text:
Blogger evolution
Two and a half years ago Susan and I thought that we needed a blogger to help get the word out about our beliefs and support for our still emerging industry. We were in need of a new writer. The industry and business was growing, opportunities to comment constructively and with a bit of humor were plentiful and Susan was complaining that she needed to sleep at least once a week. Still hasn't happened.
When Lisa was interviewed, she was a sweet, shy, quiet girl. Or so we thought. It was obvious that she was a great writer, and from a great school newspaper so we knew she could speak her mind. And so we gave her the new Bruce Clay Blog. Sometimes things come together just the right way and you get magic. You hope it will be exciting and a leader in the industry. We wanted it to take on a life of it' own, and through Lisa it did just that. We found that, quite by accident, we'd found exactly the right person for the right task. It turns out Lisa wasn't just a writer; she was a blogger and an engaging one at that. Her fresh, witty, snarky style (we have other adjectives) gave a new twist to the same old news and it was our privilege to help her grow her voice and find her footing. She's made the blog a must read in an industry full of incredibly smart people and she developed the style for the incredibly complete BC liveblogging style that makes our coverage the best out there. Losing Lisa is a setback for us all.
If we could have kept Lisa forever, we would. Chains, rope and duct tape simply were inappropriate, and the handcuffs offered by cupcakes only go so far when you miss your home. Life intervened and Lisa will be moving back to New York. We'll miss Lisa's voice around here. Her passion and drive were as valuable to the success of our company as her way with words. She has always stood up for what she believed in, fought for those who needed a voice, given a spotlight to emerging talent and shared knowledge freely to everyone. She fit well here and projected the spirit of the company with every post.
I do not think any of our industry blogs has lost such a significant voice, and I'm sure this is not the last. Don't worry; the blog will still be here, albeit in a different fashion, while we try to replace The Lisa. Like a TV newscast that has lost its anchor, we will undergo "Blogger Evolution" and continue to bring our views to the industry. We don't want someone to just imitate Lisa–she's irreplaceable in that sense — we want to bring in an equally strong voice to move the blog forward from here. And we know that Lisa's voice isn't one that's going to be quiet for long either. You can't keep a good writer down.
She's been part of our team for a long time and she will continue to be part of our family. We wish her all the best and thank her for everything she's given us. Now where's that duct tape?
9 responses to "Blogger evolution"
derrick wheeler writes:
I feel like crying…
@ September 23rd, 2008 at 14:56 -
Kate Morris writes:
Nicely written Bruce. I think we all feel the same. But we know that as the industry grows the people inside it must also. We'll miss her greatly from the BC Blog, but we also look forward to what's coming up next, for BC and Lisa.
@ September 23rd, 2008 at 15:34 -
Adam Audette writes:
Nice job Bruce.
Long live Lisa! May her next blog shine as brightly as this one.
@ September 23rd, 2008 at 19:26 -
Lily writes:
You, Lisa, better come with something really significant in New York (like cure for AIDS or saving the World from approaching comet) because I gave up Rebecca and Jane for you …
@ September 23rd, 2008 at 22:21 -
Pam writes:
Well said Bruce.
Lisa – your posts will definitely be missed!
@ September 24th, 2008 at 00:28 -
Alan Bleiweiss writes:
@ September 24th, 2008 at 01:44
Lisa's unique personality through the blog is going to be seriously missed, yet too, will her voice of ethics and reason in a sea of "push the edge of white-hat because we can" and "so what if Google thinks it's not white-hat" voices…
That was one of the things I was most grateful for – knowing that amidst all the controversy, Lisa's been a stalwart advocate of best practices and she's been an inspiration to me in that through her participation in the blogoshere…
Lisa, wherever you settle, north shore, south shore, Melville, Massapequa, Mattituck, or anywhere else – please keep speaking out the "doing the right thing for the right reasons" voice… -
Angela Moore writes:
Best wishes Lisa, you will do well in whatever you next encounter. Hopefully we will hear more from you in the future!
@ September 24th, 2008 at 05:32 -
Dan Perry writes:
Wow, I couldn't imagine a better cover letter/resume section for her next job than a link to this page.
@ September 24th, 2008 at 07:32
Very well said Bruce. We will all miss her. -
Jeremy Bolt writes:
All the way from downunder I believe your Australian fans and especially Kate will miss The Lisa just as much.
Good luck Lisa with your next gig and a great send off from Bruce. A living resume, what more could you need.
@ September 24th, 2008 at 20:48


text:
Home » Tools for Writers » Grants & Awards » Steinberg Essay Prize
A prize of $1,000 and publication in Fourth Genre is given annually for an essay. All entries are considered for publication. Scott Russell Sanders will judge. Submit an essay of up to 6,000 words with a $20 entry fee by March 15. Send an SASE, e-mail, or visit the website for complete guidelines.
Fourth Genre, Steinberg Essay Prize, 434 Farm Lane, Room 235, Michigan State University, East Lansing, MI 48824.

subset: commoncrawl


text:
- A magnificent view of the Vineland Estates vineyards graces almost every diner at this memorable restaurant. Whether you're in the warmly appointed interior, or on the restaurant's outdoor deck, you'll be as delighted with the view as you'll be with the food. Executive Chef Jan Willem Stulp creates dishes using the freshest seasonal products from the area. Helpful staff can help select one of many fine wines from the surrounding vineyard to accompany your meal. The Vidal and the Riesling Icewines enhance just about any dessert.
- © wcities.com 2013
Ask a local about Vineland Estates Winery - Restaurant
Locals have answered 10 questions about Niagara Falls (ON).
Ask Niagara Falls (ON) Locals about Vineland Estates Winery - Restaurant
Other features:
Wine Bars
- Details
- visit website
- tel: +1 905 562 7088 / +1 888 846 3526(Toll Free)
- fax: +1 905 562 3071
- send email
- 3620 Moyer Road
- Vineland Estates Winery
- Vineland, ON L0R 2C0
- Mo to Su from 11:30 AM to 02:30 PM,Mo to Su from 02:30 PM to 04:00 PM,Mo to Su from 05:00 PM to 09:00 PM
- User Rating


text:
Top Stories
KATHMANDU: The teachers associated with the Community Teachers' Union Nepal fully cooperated in the Plus Two Examination held on Sunday. The teachers agreed to call back the strike after talks with the government.
The representatives of the Higher Secondary School Board (HSEB) Examination Controller, Durga Prasad Aryal, Member-Secretary, Bhim Gurung, and the Union held talks regarding the teachers' demands at Hotel Dwarika's on Saturday night.
According to Member-Secretary Gurung, the representative of the Teachers' Union agreed to call back their strike to obstruct examination with the talk held last night.


text:
South McCullough Wilderness Area | |||
Print Page | |||
South McCullough Wilderness Map South McCullough, Wee Thump, Joshua Tree Wilderness Management Plan 44,252 acres Location: 35 miles south of Las Vegas Terrain: The wilderness area consists of a north-south mountain range that drops off gradually to numerous valleys, foothills and sloping bajadas on the east and west flanks. Elevations range from 2,500 feet in the northwest portion of the area to 7,026 feet at McCullough Mountain in the center of the wilderness. Most of the area is composed of metamorphosed Precambrian rock, granite and schist, although basalt and andesite flows occur in the northern portion. Habitat Type: Creosote bush scrub occurs below 4,500 feet; Joshua trees, yucca and cacti occur between 3,500-5,000 feet; blackbrush occurs between 4,500-5,000 feet; pinyon-juniper occurs above 5,000 feet. Scattered mesquite/catclaw communities also occur in washes throughout the area. Special Features: • Signs of prehistoric habitation have been found in the area, including rock art, occupation sites and pine nut caches. • Desert tortoise, Nelson bighorn sheep, Gambel's quail and chukar are present. |
Last updated: 02-01-2011 | |||
USA.GOV | No Fear Act | DOI | Disclaimer | About BLM | Notices | Social Media Policy | |||
Privacy Policy | FOIA | Kids Policy | Contact Us | Accessibility | Site Map | Home |


text:
9 Great Savings Moves The 1990s are fast shaping up as the Decade of the Saver. Even though short-term yields are now falling, these simple strategies can still boost returns on your savings to as much as 9%.
(MONEY Magazine) – During much of the 1980s, savers had it easy. To earn yields of 9% or more, all they had to do was put their spare cash in a money-market fund -- almost any would do -- or a bank certificate of deposit. You can kiss those days good-bye. Average money fund yields recently stood at 7.84%, down from 8.6% a year ago. And after Iraq invaded Kuwait in early August, short-term interest rates threatened to fall further as investors fled stocks for the sanctuary of U.S. Treasury bills. Fortunately, there are still ways that you can earn attractive returns on your savings. To find them, MONEY reporters interviewed more than a dozen economists, money-market specialists and mutual fund advisers. Our search turned up nine strategies that can deliver returns of as much as 9%, with almost no risk to your principal. This is especially welcome news for adults under age 45, who are just starting to move into their peak earning years. They have given up on the dream of the speculative 1980s -- that they can reach their financial goals almost overnight with the right mutual fund or a few well-chosen stocks. After eight years of 18.8% average annual returns, the bull market in stocks that began in 1982 seems to be over. (For a more complete forecast of the economic outlook, see the story on page 66.) So these Americans have come to realize, as their parents and grandparents did before them, that the only sure way to meet future financial needs -- from college education for the kids to a comfortable retirement for themselves -- is to sock away money regularly. That's one reason the national savings rate, after bottoming out at 2.9% of after-tax income in 1987, rose to 4.6% for all of 1989 and recently was running at 5.1%. Putting more aside is only the first step, however. (For tips on how to boost your savings, see the box on page 72.) Equally important is earning the highest safe yield. For instance, $20,000 in a 5.2% passbook savings account will grow to $55,100 in 20 years. Over that period, if you can raise your yield to 8.5%, your money will swell to $102,200. Achieving that 8.5%, however, is increasingly difficult -- let alone 9%. The three-month T-bill rate, 8% at the start of the year and 7.6% recently, could drop to 6.75% by year's end, according to economist David Jones of Aubrey G. Lanston, a U.S. Government securities dealer in New York City. If he's right, yields on money funds -- which hold commercial paper with yields that track T- bill rates -- would head down as much as a percentage point from their recent 7.84%. Yields on bank certificates, recently 7.57% for six-month CDs, would drop about half a point to 7.1%. So savers will have to work harder and smarter. One who did just that: Mary Van Winkle, 37, of St. Louis. After her husband died of kidney failure in 1988, Van Winkle, a part-time hospital office assistant and mother of six- year-old Sarah, invested a $100,000 life insurance payout in a 7.75% money- market deposit account at Commerce Bank. Then she took an investing course at a local college and realized that she could prudently earn nearly a percentage point more with a mix of mortgage-backed securities, corporate bonds and utility stocks. Her current average yield on these investments: 8.7%. Even though 22% of her money is in gas and water company shares that obviously fluctuate in price, Van Winkle is confident of her strategy because her life goal -- a comfortable retirement -- is at least 25 years off. ''I am investing in these stocks for the long term, so short-term price fluctuations don't bother me,'' she says. Fortunately, her husband's parents have put money ; aside to pay for Sarah's college bills. (For the names of 20 select mutual funds that provide superior long-term total returns for the risks they take, see the story on page 116.) In following any of the nine strategies described below, keep both the size of your savings and your goals in mind. For instance, before putting money anywhere else, build up an amount equal to at least three months' expenses in a money-market fund for emergencies. Then, if children's education is your top priority, consider buying zero-coupon Treasury securities for them. If retirement is your major goal though and you are still under 40, think about putting at least 50% of your savings into utility or other conservative stocks. And be sure to use dollar-cost averaging -- regular purchases of the same dollar amount of stock -- so that your money will buy more shares when prices are down and help insulate you against market swings. Here are our nine savings strategies, starting with the simplest: 1 Earn higher interest on your bank balances. Switch the money you prefer to keep in federally insured bank deposits to accounts that pay the highest possible interest. Keep only the minimum required balance in your no-interest checking account or 5% NOW account. Move any additional money -- as well as any cash you have in a 5.2% passbook savings account -- to your bank's money- market deposit account, which will pay around 6.1%. 2 Shop for high-rate CDs out of town. Although the astronomical rates once paid by the S&Ls of Texas and other economically troubled states are only a memory, some above-average yields are still available at financially sound institutions. ''People often get nearly a full percentage point above hometown rates by sending money to a high-yielding bank out of state,'' says Warren Heller, research director of Veribanc, which rates the safety of banks and S& Ls. For example, savers could recently get 8.76% on a 2 1/2-year CD, top-rated for safety, from the First Deposit National Bank in New Hampshire (800-821-9049), compared with the 8.02% national average. (For other choices, see the Scorecard section of MONEY on page 17, which every month lists the top yields in the country and ranks the safety of the issuing institutions.) Stock brokerages also offer above-average rates on CDs, though the S&L bailout has crimped the supply. ''Buying through my broker is the most convenient way to get high-yield CDs,'' says Roe Hawkey, 70, of Willoughby, & Ohio. In April 1989 he and his wife Pat, 66, bought a five-year CD issued by the Bank of New York from Merrill Lynch. The certificate yields 9.1%. 3 Open a money-market fund account, and use it to pay bills over $250. Money funds do not carry any government insurance, but you still run almost no risk of principal loss. And with a fund, you can earn higher interest -- nearly 8% vs. 5% on a typical NOW account -- while waiting for your checks to clear. Because most money funds require that your checks top $250 or $500, use the fund for mortgage payments or other large bills; depend on your bank checking account to pay smaller bills. Or search out a money fund with no check-writing minimum, such as Fidelity Tax-Exempt Money Market Trust, used by Humberto Cruz, the supersaver profiled on page 73. 4 Switch excess cash from your money fund to a short-term bond fund. Once you have accumulated an emergency reserve of at least three months' expenses in a money fund, move surplus cash to a short-term bond fund. Investors were recently earning a 30-day average yield of 8.58% -- about three-quarters of a percentage point higher than that of the average money fund -- from funds that invest in bonds with maturities of five years or less. The highest safe returns are available from funds that hold the securities of top-rated corporations. Recently, one of the best-yielding funds sponsored by a leading management company was Vanguard Fixed Income-Short Term (800-662-7447). It offered 8.72%. Bond funds, in contrast to money funds, do not assure the value of your principal. But because short-term bond funds do not hold securities with maturities beyond five years, the losses you risk are less than a year's interest. Even if interest rates shot up by two percentage points, a typical short-term fund would lose less than 4%. Savers who are willing to ride out greater price fluctuations may want to consider Scudder Short-Term Bond Fund (800-225-2470), which sports a 10.2% yield. The fund holds foreign bonds -- whose value moves in the opposite direction of the dollar -- as well as mortgage-backed securities and U.S. corporate issues. Tax-exempt bond funds may provide an even higher after-tax return for investors in the 28% bracket or higher (married couples with taxable income of more than $32,450; singles with more than $19,450). For instance, commercial real estate broker Larry Schedler of Destrehan, La., a suburb of New Orleans, boosted his yield from 5.5% to 6.0% when he moved $10,000 from a passbook account to the SteinRoe Intermediate Municipal Fund. ''I left some savings in the bank,'' he says, ''but I wanted to get a higher yield on part of my money.'' For Schedler and his wife Vernell, who are in the 33% federal bracket, their tax-exempt yield is equivalent to 9.04% on a taxable security. 5 Beat bank CD rates with two- to three-year Treasury notes. For a $5,000 minimum investment, you can earn 8% on two-year notes and 8.2% on three-year issues -- up to one-third of a percentage point more than on bank CDs of the same maturities. Better yet, interest on Treasuries is exempt from state and local taxes, which effectively adds half a point or more in yield for many investors in high-tax states such as California and New York. To avoid the usual $50 broker's commission, which would in effect cut a point off your first year's yield on a $5,000 purchase, you can buy Treasury notes directly from a Federal Reserve branch. Your own bank can advise you on how to get the necessary forms. (For more information on buying Treasuries, see MONEY, December 1988.) 6 Capture rising dividend yields with sound utility stocks. To meet long-term goals such as retirement, you may want to put up to 25% of your portfolio into electric and gas utilities that have boosted dividends at least 5% a year over the past decade. Such stocks offer both the prospect of growing yields and long-term capital gains. A utility with a 7% yield and 5% annual price appreciation would offer a long-term total return of 12% a year. ''Blue-chip utilities with good growth characteristics offer conservative investors the best of all possible worlds,'' says Geraldine Weiss, editor of the newsletter Investment Quality Trends (7440 Girard Ave., La Jolla, Calif. 92037; twice monthly, $250 a year). Weiss' top picks include Consolidated Edison, the New York City utility, recently traded on the New York Stock Exchange at $23.25. Con Ed currently pays a 7.8% yield and has hiked its dividend by an average of 10% a year during the 1980s. Even if its dividend increase were to fall to 5% annually, which some analysts are predicting, the payout in 10 years would represent a 12.8% yield to someone buying the stock now. 7 Buy zero-coupon bonds for long-range goals. With yields comparable to those of regular Treasury bonds, zeros pay no cash interest but sell at + substantially less than the face value amount that you receive when they mature and are redeemed by the Treasury. Such issues therefore are especially suitable for tax-deferred Individual Retirement Accounts and Keogh accounts, since otherwise you would owe annual taxes on interest that you do not receive in cash. If you have sufficient money from other sources to pay those taxes, you can also use zeros to save for college costs. Since the prices of long- term zeros are highly volatile, buy bonds that mature close to the time that you will need the money. As an alternative to Treasury zeros, consider zero-coupon Refcorp issues, which are issued to finance the federal S&L bailout and yield about three- tenths of a percentage point more (see Wall Street on page 53). 8 Include blue-chip growth stocks in your retirement portfolio. If you have 20 years or more until retirement, such stocks or stock mutual funds are the best way to increase your capital. Over the past 64 years, stocks have returned 10.3% a year on average, including reinvested dividends, about twice as much as the return on corporate and government bonds and triple that of money-market investments. ''To protect against inflation and get the best buildup, people should have at least 50% of their retirement assets in stocks,'' says Sheldon Jacobs, editor of the No-Load Fund Investor (P.O. Box 283, Hastings-on-Hudson, N.Y. 10706; monthly, $89 a year). That means moving money into a growth fund or balanced fund if you have those options in a 401(k) company retirement savings account. For money in IRAs or Keogh plans of your own, Jacobs suggests keeping 80% in growth-oriented funds and 20% in money funds if you are under 45. Once you reach your late forties, move 5% of your assets to bond funds each year, up to a maximum of 30%. Cut your stock holdings back to 55% and reduce money funds to 15%. 9 Consider investing extra money for retirement in carefully selected deferred annuities. If you already have put as much as possible into both your tax-deferred 401(k) and IRA -- the combined maximum allowed this year is $9,979 -- and you want an additional tax-advantaged investment, take a look at annuities. They work best for investors in the 28% and 33% tax brackets who are willing to lock their money away for 10 years or more. The most attractive choices are variable annuities, which permit you to invest in stock and bond mutual funds without paying tax on capital gains or reinvested dividends and interest until the money is withdrawn. Your eventual payout depends on how well the investments perform. Financial planner Malcolm Makin of Westerly, R.I. suggests two such annuities: Best of America (800-848-6331), which is sponsored by Nationwide Life Insurance and offers a range of fund choices from leading mutual fund companies including Fidelity, Neuberger & Berman and Twentieth Century; and American Legacy (800-421-9900), sponsored by Lincoln National Life Insurance with American Funds as the money manager. These annuities are backed by strong insurance companies and have reasonable fees, according to Makin and other planners. Total annual costs run less than 2% of assets plus a $25 to $35 charge from the insurance company. (To learn how to avoid annuities with exorbitant fees, see ''The Cold Call Cowboy Says: Annuities Beat Mutual Funds,'' MONEY, November 1989.) Following one or more of these strategies can pay off whether you are a novice saver or have already built up substantial savings. In considering a change in your strategy, you'll also be forced to take another look at the basics: Are you saving enough and getting the highest safe return on your money? In the cold realities of the 1990s, savers who pass those tests will be the ones who head into the new century feeling truly secure financially. |


text:
The Butcher Boy
Genre: | Comedy, Drama |
Mood: | Intense, Offbeat, Witty |
Decade: | 1990's |
Country: | Ireland, United Kingdom |
Director: | Neil Jordan |
Actor: | Stephen Rea, Eamonn Owens, Alan Boyle |
Actress: | Fiona Shaw |
Release Year: | 1998 |
Studio: | Warner Home Video |
Runtime: | 115 Mins. |
Format: | Color |
Rating: | R |
What It's About:
Growing up in Dublin in the early 60s, Francie Brady (Owens) is an Irish lad with a rich, dark fantasy life which allows him to cope with the most dysfunctional of circumstances, including an alcoholic father (Rea) and a suicidal mother. Branded a pig by nosy neighbor Mrs. Nugent (Shaw), Francie hurls stinging insults and megalomaniacal one-liners with great charisma. But as his pranks and delusions turn increasingly violent and deranged, and his only bosom pal Joe (Alan Boyle) deserts him, Francie becomes a dangerous menace to everyone in his path.
Why I Love It:
Based on the novel by Patrick McCabe, "Butcher Boy" is the blackest of black comedies, and unlike anything you've seen. Stephen Rea is effective as always playing Francie's drunken father, but it's Eamonn Owens's stunning portrayal of one very troubled kid that stays with you. (Owens was plucked out of 2,000 child actors to assume the role.) Though the film is undeniably bleak, Jordan's magic camera and storytelling gifts transcend this darkest of subjects, creating a strangely hypnotic work offering unexpected rewards.
Post A Comment
Please join us
or log-in to post a comment.


text:
Q&A With Joseph Brooke, the New Director of Spirits at the Edison + Cocktail Recipes
Joseph Brooke was just recently named as the new director of spirits at the Edison. A post he takes over from Aidan Demarest who is now doing cocktail consultation with mixologist Marcos Tello at the not-yet-opened First & Hope Supper Club. We spoke to America's Top Bartender about his plans and cocktails for the downtown hot spot, which L.A. bartender he looks up to and what's going to be the next It cocktail.
Caroline on Crack Joseph Brooke, The Edison's new director of spirits.
Squid Ink: What exactly does a director of spirits do?
Joseph Brooke: Besides drink on the job? We don't actually have a head barman in place right now. I mean, when I transition fully over here I'll be three shifts a week behind the bar so I'm going to do all that. I'll be the head barman, I'll do the list, the ordering, staffing issues, just generally conduct the entire beverage program. Which seems really intimidating but my job is made that much easier because all I'm doing, I just want to match the space. I know how to make good quality cocktails but I'm not going to be so lofty with my ideas...the amount of volume that we do we will never have the quality of the Varnish or Death & Co. because it's just not feasible. It's too big. And I learned that from Copa d'Oro. Copa is such a great place but when we get slammed the room is just too big and it's the best training I've ever received because it's like strapping on weights and doing push-ups. But the drink program has to match the space. And because we are the size of a nightclub and I refuse to have corn syrupy nightclub cocktails, we're still going to keep the fresh component. That's not moving. And Marcos [Tello] and Aidan [Demarest] did such a good job of building it up to where it is that I just want to make it lean and mean.
I think if I reduce the amount of prep that the bartenders have to do.... Like if we have a prep cook. Like if we start having seasonal syrups. The thing is if we batch a bunch of honey syrup with some sage boiled into it as a syrup and puree instead of having to muddle the sage and putting the raspberry in and all that. Just like one, two, shake, done. And that's what I learned from Vincenzo [Marianella of Copa d'Oro] in as far as the London bars because everyone there is such terminal alcoholics you just make the actual transaction as quick as you can. You can still keep the ingredients fresh, the service can still be of a certain caliber and you get a great cocktail. We're going to stay free pour. Jiggering, I got my issues with jiggering. But we cannot jigger at this bar. So I'm going to test the fuck out of my bartenders with free pours and just make sure they can nail it. Because if they know the recipes and they've got good pours then the cocktails are going to taste good. It'll ensure consistency.
SI: What do you want to do with the Edison?
JB: I don't have this grandiose idea of turning this into something different because it's a totally successful program right now and I just want to keep the streak going and make it easy enough for the barbacks, the runners and the servers and streamline everything.
Let's take Radio Room, for instance. We flew in bartenders who chances are haven't touched a bottle of Kahlua in 5-10 years. These guys, it's not that they're snobs. And it's easy to dismiss it as snobbery but it goes the same way on the other side when people get defensive like the tequila and Chambord drinkers. What we're going to do for the next Radio Room, and I think Aidan spoke very quick when he said we're going to have twice as many bartenders, because I don't think that's really going to solve the problem. Like if you have to reinforce a bridge, if you just slap on a bunch more beams, it may be reinforced but you're not being smart about it.
The Edison The Edison's bar.
I think what we're going to do, because these barmen have their own specific drinks we set them up at a show pony station where it's two or three of them and their drinks and that's all they make all night. They don't have to handle cash so they don't have to worry about searching around. So you buy tickets at either the front door or downstairs that's good for one of their drinks. Like a ticket to New York or a ticket to Oregon or other mixology places. So you take all of that out of their hands and you have three or four regular Edison staff members who, maybe we'll have one or two of my cocktails and a bowl of punch, but they'll be the ones who can bang out a Jack and Coke, the vodka sodas, the Goose tonics. That's the kind of streamline this place needs. The actual bar equipment has gone through like four different revisions and it's been getting better and better but you just need one big one and that's the one thing I know I can bring to the table as far as making it easier for the bartenders so that everything is improved. For every task that a bartender has to take three steps, to reduce that even by one step is going to make a huge difference.
SI: What are your plans for the Edison cocktail menu?
JB: It's going to stay fresh. And it's going to stay classic. And the new cocktails will definitely have the classic twist flavor profile. I think we can get away with losing a lot of bottles in the back bar to speed everything up. I'm confident in my bartenders that they're able to make balanced cocktails. And to have the mass appeal we can't go too far into the left field. Maybe one or two cocktails on the list will be like drink nerd cocktails, like aromatic style. We don't have any aromatic cocktails on the list. We have the Anejo Old Fashioned but even still...because we're not jiggering, the agave nectar most times comes out too sweet. So just break it up a bit. I've learned this from Employees Only in New York. They have three or four drinks on the list for bridge and tunnel. It's basically like citron sour with mint and soda but then you have the other weird stuff for the people who know it, like chartreuse, cacao and bourbon. So something for everyone. I don't want to exclude anyone. Speaking of, we're going to add a non-alcoholic cocktail list, maybe four or five. I would hate leaving DDs [designated drivers] out of the loop and maybe we should just make something interesting so they don't feel left out. It really adds to the night to feel like you're part of something.
SI: What do you think is going to be the new It cocktail or spirit?
JB: Rum is going to hit the renaissance and tea-infused cocktails that we got a taste of at the Tar Pit. I mean, Audrey [Saunders of Pegu Club and formerly the Tar Pit], she was messing with that stuff a couple of years ago. You've got Constantino's opening and La Descarga is doing really well. It's all about rum. But also as far as the fancier stuff, because the ripples from Audrey's tea cocktails are going to hit here soon. What's funny is there are bars in Hollywood that are trying to fat wash bourbons for their cocktails because of Don Lee at PDT doing his Bacon Maple Old Fashioned. But the way that I feel the trends go, and this is more fashiony stuff but maybe cocktails are the same thing, trends are started on the West Coast, they echo back and are perfected in New York and they ripple back and are just ruined in Los Angeles. Think about it. Hipsters... They start here because this is like the sandbox of America and then in New York they're like, "This is how you gotta do it" and we're like, "Oh yeah" and then you have David Hasselhoff in head to toe Von Dutch.


text:
Early Adoption: Against HR's Nature ?
HR is not known for being innovative. HR is known for its compliance orientation and focus on risk mitigation. But the push of shiny new technologies and their potential to increase engagement and productivity and the pull of employee expectations puts HR squarely in the innovation zone today. Gen X and Gen Y cohorts- are clamoring for their employers to become early adopters of technologies such as social media to excel in their job functions.
Instant Access to Document
Our Partners
Leading companies partner with Achievers.


text:
Australian cricketers came, struggled, were conquered
By Kersi Meher-Homji, 12 Jul 2012 Kersi Meher-Homji is a Roar Expert
- Tagged:
- Australian Cricket, Brett Lee, clint mckay, Cricket, England cricket, george bailey, Michael Clarke
The bubble has burst, the wins over India and Sri Lanka in 2011-12 now appear to be distant memories. But for the abandoned Birmingham ODI, it was a whitewash for Michael Clarke's men.
This is the first time Australia has lost an ODI series 0-4.
And three of these matches were lost by big margins; six wickets, eight wickets and seven wickets. So what went wrong? England had the home advantage but Australians have done well in England in the past.
I doubt whether they had cricket on their mind. They looked listless and were often going through the motions.
Could too much cricket be the problem?
I have tackled this issue in my Roar post on May 1st this year.
I wrote, "If a cricket tragic like me is asking for a break from cricket, what about the Australian cricketers who have played and are scheduled to play international cricket almost nonstop for 19 months (from August 2011 to February 2013) in six countries – over 40 weeks a year, 5 days a week, 8 hours a day?"
Australia's results in Tests in the last nine months have been satisfying – beating Sri Lanka in Sri Lanka last August-September, drawing with the strong South Africans in South Africa last October-November, drawing with New Zealand and then thrashing India at home in 2011-12 and this April beating the West Indies 2-0 in the Caribbean.
It must nonetheless be grueling for them.
After this drubbing in England, Australia play four ODIs and three T20s against Pakistan in August-September, World T20 in Sri Lanka in September-October then the strong South Africans in Australia for three Tests in November-December.
No wonder they looked so stale and I-wanna-go-home in England in the series concluded on Tuesday. For the life of me I can't understand why Australia toured England in June-July this year. With Wimbledon in England and the NRL and AFL at an interesting stage in Australia who would switch on a TV for a meaningless ODI series in England?
The Ashes next year in England is different. We can hardly wait. Not only did England walk all over Australia in the ODI series, they proved superior individually. Of the top six batsmen in the series, five were English and only George Bailey proved consistent with the bat.
Also of the top seven bowlers, six were English and only one Australian: Clint McKay. And the Player of the Series was England's batman Ian Bell.
Injuries to Shane Watson and fast bowlers Brett Lee, James Pattinson and Pat Cummins did not help. The quickies need rest. They have to be preserved for the Test series against South Africa this summer down under. Cricket Australia, please note.
Surprisingly, Australia is still ranked number one in ODIs, thanks to the abandonment of the third ODI at Birmingham. They are just one point ahead of South Africa and England. Had Australia lost in Birmingham, they would have lost their top-ranking as well.
Kersi is an author of 13 cricket books including The Waugh Twins, Cricket's Great All-rounders,Six Appeal and Nervous Nineties. He writes regularly for Inside Cricket and other publications. He has recently finished his new book on Cricket's Conflicts and Controversies, with a foreword by Greg Chappell.
Roar expert Glenn Mitchell's video preview on the eve of the second Ashes Test
The Crowd Says (7) | Page 1 of Comments
July 12th 2012 @ 2:45am
The Werewolf said | July 12th 2012 @ 2:45am | Report commentIf we were to name a joined team not one Australian would make the side. Maybe McKay.
We have some serious questions to eba sking of the domestic game in australia and the coaching that players receive in preparation for becoming professional cricketers.
July 12th 2012 @ 9:36am
Will said | July 12th 2012 @ 9:36am | Report commentGeorge Bailey seems like a player that should have serious claims and expectations of a future test berth.
Looked at ease.
July 12th 2012 @ 1:25pm
B2 said | July 12th 2012 @ 1:25pm | Report commentThis is not your style Kersi.Too timid!
Australia in England or England and Australia anywhere,The Australians down the Pom's Roar!
This Australian team was insipid..Club Class and no spunk.
How much cricket , playing hours have the players spent on the field in the past 12 months?They get paid Millions which surely should give them the best of nourishment , advise and training to keep them fit.
Anyways , good luck ! -
July 14th 2012 @ 10:15pm
sheek said | July 14th 2012 @ 10:15pm | Report commentHi Kersi,
Apologies for not responding sooner. This is after all, the footy season.
Is there too much cricket? I would say there is too much MEANINGLESS cricket. Another one-day comp series designed to fill the cash registers more than anything else.
But then, there is also too much meaningless rugby union as well. Or soccer.
I think Australian cricket might have some problems heading into the future. But I must apologise, my mind is on the footy codes at the moment.
More importantly, I trust your book is going well…..
July 15th 2012 @ 5:54am
Kersi Meher-Homji said | July 15th 2012 @ 5:54am | Report commentThank you, Sheek.
I agree.
Yes, everything going well with my book on "Cricket's Conflicts and Controversies — from pre-bodyline to post-bollyline". Waking up at around 4 every morning helps. Also receiving help from Greg and Ian Chappell, Mallett, Taber, Glenn Turner, Bishan Bedi… -
July 15th 2012 @ 2:13pm
B2 said | July 15th 2012 @ 2:13pm | Report commentHello again Kersi!
All the best with your book "Cricket's Conflicts and Controversies — from pre-bodyline to post-bollyline".
The next time I am in Sydney I must get a copy autographed by you.
Over a drink I might even give you some juice for controversy in Indian cricket.
All the Best.Anil


text:
Dua Kumayl, How Can I Remain In The Chastisement
in Islam
Salaam Alaikum,
I2SP contines it's weekly commentary of Dua Kumayl. This week Sh. Hanif will examine, How can I remain in the chastisement.
The Gospel And The Qur'an
in Islam
This episode features a lesson given by Dr. Evertt Huffard presented at the Madison church of Christ during a workshop on Christianity and Islam. Dr. Evertt W. Huffard is VP/Dean and Professor at Harding School of Theology, in Memphis, Tennessee. He has been teaching leadership and missions for 28 years. In 1997 he received the Distinguished Teacher Award from Harding University. He also served as an elder at the Church of Christ at White Station for ten years. His cross-cultural experienc
Ahl Bayt and Alchemy of the Soul
in Islam
Ustadha Yasmine Fat'emi will speak on The Ahl Bayt and Alchemy of the soul and the science of how its purified,along with energy and biogeometry sciences
Defenders of Farrakhan: Truth about Farrakhan & Malcolm X
in Islam
This show is about the truth about the relationship of Minister Farrakhan and Malcolm X. How did the relationship start and the middle and the ending. 3 Star General Daniel and Walter Muhammad will be giving the details, teaching the absloute truth!
The Muslim Marriage Hour
in Islam
The Muslim Marriage Hour TMMH Why? Marriage greatly benefits the individual Muslim. Marriage greatly benefits the Muslim ummah. TMMH What? A forum for facilitating marriage. No flirting. TMMH Host? Naim AbdurRafi and other mature indigenous American Muslims TMMH Representatives? Muslim brothers who call the show to present the "credentials" of Muslim brothers and sisters seeking marriage. TMMH Observers? Members of the audience—either Muslim brothers or sisters—who
What do those Mozlems really believe???!!!
in Islam
Hosted by Yusuf Sneed of Memphis, TN Ever wondered what Muslims believe? Do they really worship a moon God???!!! Maybe you are a new Muslim or already practicing Muslim, and you want to learn or refresh your knowledge concerning the beliefs of a Muslim. We will try to go over one belief per week. God willing, this will be a benefit to you in some postive way... This week (There is nothing worthy of worship except God, and He is ONE and has NO PARTNER). This is the first belief in Islam (a way
Good Character of a Muslim: Family Relationships
in Islam
This episode we will discuss the role of a Muslim in regards to the family.
in Islam
BY SHIKH SAALIH as-SINDEE TRANSLATED BY ABDUR RAZZAQ
Sisterhood Brunch Circle
in Islam
Bismillah We will start with a brief reminder of Allah followed by open dialogue. Come prepared to discuss any issue or challenges that you face as a Muslimah or in sisterhood and we will also serve as support for each other, in shaa Allah. The chat room will also be up live as well. Chat room link:
in Islam
Islam! Join on us on this episode of Moorish Science Radio as we will have an open discussion about Islam. My guest will include brother Jamil Muhammad Shabazz, who has studied orthodox Islam for over 20 years. We invite all to call in give their perspectives as this show is more for the historical and modern discussion as opposed to an open debate.
The New World Moorish View
in Islam
Grand Sheik Elisha Jahid Alim-Bey & Grand Sheik Melchezidek Hajar-El continue to demonstrate the lesson from the Supreme Grand Sheik Prince Ka Saadi El "The Old Moor Mentality!"
Today's Best Episodes
Food Do Vitamin Pills Help or Hinder?
The Jazzy Vegetarian
Finance Holiday Season Financial Prep
Cornerstone CU League
Self Help History: Black Wall Street Riots
Survival Radio Network
Politics Conservative Fitness Mom Maria Kang
dburt aka Afronerd
Entertainment The Genius Behind the BBC's Sherlock
Variety Radio Online
Join Host Live Chats
- Tens or Chops (45 chatters)
- TheAllfactsShow (19 chatters)
- WGAG Radio (18 chatters)
- Hot Topics Talk Radio (11 chatters)
- King Noble Black Supremacy (8 chatters)
- FreedomizerRadio (3 chatters)
- GRANNY GANJA (2 chatters)
- HME Radio (1 chatters)
- TGMCS (1 chatters)
- Kshell (1 chatters)
- RotoRadio Network (1 chatters)
- Autistic People (1 chatters)


text:
Award competition closes – entries sent to Judging Panel
The closing date has now passed for the fourth running of the Future Internet Award.
After a surge in the final days of the competition, a record 36 entries were received this time around. These have now been distributed to the Judging Panel and, based on their scores, a short-list of 3-4 entries will be chosen for a second round of adjudication.
The ceFIMS project would like to thank all those who took the time to submit an entry. We wish you well in the competition.
The winning entry will receive their prize at the closing ceremony of Aalborg's Future Internet Assembly on Friday, 11th May.
The Judging Panel for this running of the Award competition is as follows:
- Henrik Reif Andersen, Danish Configit A/S
- Joan Batlle i Monsterrat, Barcelona City Council
- Nicolas Demassieux, Orange-FT Group
- Adam Grzech, Wroclaw University of Technology
- Martin Przewloka, SAP
- Robert Szabo, Budapest University of Tech & Economics


text:
OUTDOOR SCHOOLING.Byline: Mike Stahlberg The Register-Guard South Eugene High students Tom Bonamici and Ginny Robbins attended summer school last year, but not because they were behind in their studies. Both wanted to learn more about the ins and outs ins and outs pl.n. 1. The intricate details of a situation, decision, or process. 2. The windings of a road or path. of successful outdoor adventures. So they enrolled in separate month-long backpacking courses offered by National Outdoor Leadership School. Bonamici, a senior who's president of the South Eugene IceAxemen - one of a handful of high school mountaineering clubs in the Northwest- spent four weeks in the wilds of the Absaroka Range Absaroka Range Range of the Rocky Mountains in the U.S. It extends from southern Montana into northwestern Wyoming, crossing portions of Gallatin, Shoshone, and Custer national forests, as well as the northeastern portion of Yellowstone National Park. , which borders Yellowstone National Park Yellowstone National Park, 2,219,791 acres (899,015 hectares), the world's first national park (est. 1872), NW Wyo., extending into Montana and Idaho. It lies mainly on a broad plateau in the Rocky Mts., on the Continental Divide, c. in northern Wyoming. Robbins, a junior who's also a member of the IceAxemen club, was one of 15 students and three instructors in a course that used remote Alaskan mountains near Denali as a classroom. The two Eugene high schoolers were among nearly 3,000 students ages 14 to 70-plus trained last year by NOLS NOLS National Outdoor Leadership School , a private, non-profit school based in Lander, Wyo. Founded in 1965 by mountaineer Paul Petzoldt Paul Kiesow Petzoldt (January 16, 1908 - October 6, 1999) is one of America's most accomplished mountaineers. He is perhaps best known for establishing the National Outdoor Leadership School in 1965. , NOLS is now the largest backcountry back·coun·try n. A sparsely inhabited rural region. permit-holder in the United States. In addition to providing experience-based outdoor education, it also owns and operates the Wilderness Medicine Institute The Wilderness Medicine Institute of the National Outdoor Leadership School (WMI of NOLS) was founded in 1990 by Buck Tilton and Melissa Gray. WMI was originally to be called SOLO West, but was incorporated as the Wilderness Medicine Institute instead. , which specializes in training people to deal with backcountry medical emergencies. NOLS offers 10-day to semester-length field expeditions in the United States, western Canada, Mexico, Chile, India, Australia and Kenya. The expeditions are centered around activities as diverse as backpacking, rock climbing rock climbing Sports medicine An 'extreme sport' in which the participant climbs rock formations, with or without ropes Injury risk Fractures, abrasions, death. See Extreme sports. , canoeing, kayaking, sailing, horsepacking, mountaineering and skiing. Each course, however, has the same "core curriculum," designed to teach safety and judgment, leadership and teamwork, outdoor skills and environmental awareness. Students learn about everything from first aid to "expeditionary behavior," or how to get along with others in unfamiliar and sometimes trying circumstances. (Think of the television show "Survivor," without the ability to vote any annoying members of the group off the island.) Bonamici turned to NOLS because was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. leadership training to "help prepare myself a little more" for his role with the IceAxemen, which he had helped found in the fall of 2001. The idea for a school mountaineering club emerged the previous summer while Bonamici and a buddy were backpacking the Wonderland Trail around Mount Rainier. They talked about what a shame it was that so few of their friends were involved in backpacking and about what they could do to change that. Back in Eugene, they contacted Dane Tornell, an SEHS SEHS South Eugene High School track coach with extensive mountaineering experience. He agreed to serve as the new club's adult advisor. The club had 14 members its first year and more than 30 this year. Bonamici said the NOLS course lived up to its promises. "I think everyone learned leadership skills," he said. "I think everyone also learned a separate component of, you know, patience and teamwork and all these things that aren't taught in a class but are learned on the trail." Many NOLS courses are open to anyone over the age of 14, but others are restricted to certain age groups. Robbins, for example, selected courses limited to 16- and 17-year-olds. "I chose to go on a trek with 16- and 17-year-olds because my whole life I've done outdoor things with my parents and their adult friends, and I didn't really know anyone my age who did stuff like that," she said. "So I wanted to meet people I could be friends with ..." Robbins said the course was "very fun" as well as educational and, on occasion, a little frightening - such as the time they stumbled across very fresh grizzly bear grizzly bear or grizzly, large, powerful North American brown bear, characterized by gray-streaked, or grizzled, fur. Grizzlies are 6 to 8 ft (180–250 cm) long, stand 3 1-2 to 4 ft (105–120 cm) at the humped shoulder, and weigh up to sign. "We were bushwhacking bush·whack v. bush·whacked, bush·whack·ing, bush·whacks v.intr. 1. To make one's way through thick woods by cutting away bushes and branches. 2. To travel through or live in the woods. one day and came upon bear poop Poop A slang term often used to describe people with insider information. Notes: Not the most illustrious name. See also: Insider Information that was still warm and slightly steaming," she said. "We were so scared." One of the points covered by the course was safety in bear country. "We all carried bear spray and had a class on how to use it," she said, and had been trained to make plenty of noise to avoid surprise encounters with bear. "It was real assuring to know that if you followed the procedures they gave you to do, no one who had followed them and had been in groups of four at all times had ever been attacked by a bear," Robbins said. The group also had "formal classes on lots of things - first aid, map and compass, equipment repair, effective leadership styles," she said. "We had students who would lead the group for a day or two and then at the end of course we went out on small group expeditions with five people. I was group leader of mine, so that was another chance to practice leadership." If there was a disappointing aspect to her course, Robbins said, it was that many of her fellow students were not the "hard-core outdoor people" she had expected to meet. "But I learned a LOT of patience - incredible amounts," she said. "I spent a lot of the trip trying to help other people move along and trying to teach the whole group things I might know that might help the whole group move along better. ... It was really hard at times, but I learned a lot from that." Bonamici and Robbins get a chance to put what they learned into action during the periodic outings taken by the IceAxemen, such as a recent snow-camping trip to Hayrick Butte at Santiam Pass. Club members are building up experiences in preparation for a planned summit expedition climbing the north side of Mount Shasta. Meanwhile, the list of people who have learned from NOLS includes some famous outdoorsmen Outdoorsmen are men who enjoy hunting, fishing, and camping out in the woods. Typically, they live in the northern United States or Canada. Stereotypically, they are flannel wearing, beard toting men like Paul Bunyan or the Brawny paper towel mascot. and outdoorswomen - including David Breashears, director of the IMAX IMAX Noun a film projection process that produces an image ten times larger than standard film "Everest;" climber Pete Athans, who has successful round trips to the world's highest peak; and Tori Murden, the first woman to ski to the South Pole and the first American to row across the Atlantic Ocean Across the Atlantic Ocean is the twenty-eighth episode[1] of Mobile Suit Gundam. Plot summary Amuro and Sayla manage to reduce their time in docking the Gundam and the G-Fighter to fifteen seconds. . Several other Eugene-area residents are NOLS alumni. Among them is Guy Santiago, owner of Oregon River Sports in Eugene. Lessons he learned during a 21-day NOLS expedition have helped him run his business better, Santiago said in a testimonial published on NOLS' Internet site. "I can sit and talk for hours about the course, even now," he's quoted as saying. "I recommend it heavily to anyone who wants to get a great learning outdoor experience. When I took that course, I had 20-plus years of kayaking experience, and there were a lot of things that the instructors made me remember that I'd forgotten about. "The course brought out a lot and taught me a lot. It will bring out the best in you." NOLS courses are not cheap. Tuition for most courses runs $100 to $150 per day. A course catalog and more details about the curriculum is available by calling (800) 710-6657 or logging on to: www.nols.edu. CAPTION(S): Tom Bonamici (right) and Ginny Robbins work during an IceAxeman Club outing to Hayrick Butte. Ginny Robbins of South Eugene High School South Eugene High School is a public high school located in Eugene, Oregon, United States. It was founded as Eugene High School around 1900, and was located at Willamette Street and West 11th Avenue in a brick building that later served as Eugene's city hall. (second from left) with some of her classmates Classmates can refer to either:
Reader Opinion |


text:
The question to ask yourself for this post is this: Do you have what it takes to be part of the Pajama Sensibility Movement that is rapidly garnering momentum?
What is "pajama sensibility," you may ask?
Well, I must admit, I borrowed the phrase from Oprah. But I didn't borrow the sensibility from her. My parents tell me stories of how I refused to get dressed for school even as a young child and wore my pajamas to school (inside out and backwards sometimes, no less haha). It didn't make any sense to me that I had to put on ridiculously uncomfortable "regular" clothes, get up to an alarm clock, and go to a school to be "taught" stuff I already knew or for which I had no practical use. So even as a child, I was tapped into "pajama sensibility" wisdom far beyond my years.
But you might easily dismiss me as an amateur or "not professional enough" or "too edgy." Now consider this, if a woman as powerful as Oprah loves hanging out in her pajamas (and I saw a photo of her out walking with friends in some dashingly gorgeous silk pajamas) ... could it really be wrong?
Lol, wearing pajamas feels soooo right. And it's absolutely one of the BEST things about working for yourself from home. I sometimes even record my videos wearing my pajamas (only on the bottom, so you don't see them in the videos!). Pink flannel plaid with a pink satin ribbon tie - those are my favorites!
In my private Facebook coaching group, we have many pajama lovers. And, not coincidentally, we also have a lot of aspiring internet-based businesses.
So I've decided to start a new movement in our group ... the Pajama Sensibility Movement. And for this movement to have power, we need to empower all of the members to make money FROM HOME, doing what they love, serving others and themselves simultaneously, setting their own schedules, IN THEIR PAJAMAS (of course :) ).
I myself have already made over six figures this year in my pajamas (over $200,000 as of May 2012), without a huge "list," without paid advertising, and without doing nearly anything that most internet marketers tell you that you "have to do" to make money. These are money miracles, and the members of my coaching group are also getting miracles of money left and right ...
How did I do this? Well, I followed my intuition. But looking back at the first day I started my blog (which was purely for fun at that time), I can see there actually was a brilliant intelligence working behind my process - a Power way bigger than little ol' me.
And now I can reverse engineer the process that I went through, and teach it to you. So you can make money at home in your pajamas with us.
I'll be announcing more details about this soon, but we are already mobilizing in my private Facebook coaching group. So if you want to get in on it, shoot me an email to firstname.lastname@example.com with "Pajamas" in the subject line, and I'll fill you in on how you can join us. The thresholds for early adopters are simple and very affordable, so now is the time to join. Once I turn it into a formal product or coaching program, the investment required will be a lot higher.
This is going to be FUN!! :)
Erika Awakening
High Priestess of Miracles at TAPsmarter.com


text:
When and How US Dollar Shortages Evolved into the Full Crisis? Evidence from the Cross-Currency Swap MarketNaohiko Babaaffiliation not provided to SSRN Yuji SakuraiUniversity of California, Los Angeles (UCLA) - Anderson School of Management August 17, 2009 22nd Australasian Finance and Banking Conference 2009 Abstract: This paper investigates when and how the US dollar shortage problem evolved into the full crisis during the financial turmoil that started in the summer of 2007, using cross-currency swap prices between three European currencies (EUR, GBP, and CHF) and USD. We employ the dynamic global (latent) factor model with regime-switching beta coefficients proposed by Kim (1994). The main findings are as follows. The global factor exists and there are 2 (high and low) distinctive regimes for beta coefficients of each observable price with respect to the global factor. The crisis indicators such as US and European financial credit spreads and TED spread have significant predictive power for regime-switching from and to the high-beta crisis regime. The 1-year market first entered the crisis regime soon after the onset of the subprime problem in August 2007, and has stayed in the crisis regime since early March, 2008. The 5-year market shows more gradual and delayed movements of both the global factor and the crisis regime probability, entering the crisis regime just after the collapse of Bear Sterns in mid-March, 2008. Number of Pages in PDF File: 40 Keywords: Global financial crisis, US dollar shortage, Currency swap, Dynamic global factor model, Regime switching JEL Classification: F31, F34, F36, G01, G15 working papers seriesDate posted: August 27, 2009 ; Last revised: December 7, 2009Suggested CitationContact Information
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
Terms of Use
Privacy Policy
Contact Us
This page was processed by apollo5 in 0.406 seconds


text:
Daftspace. A mashup of two excellent things!
In honor of the recent passing of Apple co-founder Steve Jobs, I give you Apple's failed attempt at entering the console market. Even though Steve Jobs was not at Apple during the Pippin's creation, this is a gaming blog and being the Apple fan that I am I wanted to post up something in honor of the late Mr. Jobs.
So long Steve Jobs, and thanks for all of the fruit.
I remember thinking this was a bit odd as a child. I was one of the few people who had to have a store bought copy of Super Mario Brothers as a kid because my system came with Gyromite and Duck Hunt. So I had nice big beautiful boxart to look at and was wondering why Mario was in such a dire situation on the cover.
Image from Cannotunsee.


text:
FAVELA WALKING TOUR by Brazil Expedition
Book this tour
To get started, choose an available date below to see prices.Why Book With Us?
- Secure your Seat! Confirmed Online Reservations.
- Read Reviews of our Tours & Activities by customers who have experienced them.
- SMS confirmation of your Tour Booking.
Tour Itinerary
Tours are of the Rocinha favela (the largest favela or "shantytown" in South America) by our Brazilian tour guide, Bruno, who worked there as a volunteer for one year.
The tour is non-intrusive and respectful of the lives of the people living in the favela. It is not like the "zoo-tour" in vans or jeeps done by other tour companies. Transport is by public transportation (van and moto-taxi) to and from the favela. The guide informs you of the history, social and economic functioning of the favela; and as the tour groups are small you will be able to meet some of the people who live there. You can also experience and take photos of the breath-taking views that the favela has of Ipanema, Sugar-Loaf and the Christ statue.
The tour usually takes about 4 hours. The price is R$65. This covers your transportation and a monetary contribution to the community.
Is it safe? - You can bring cameras and money to the favela. It is better that you dress casually.


text:
L'Oreal SE Vitamino Colour Shampoo 1500ml |
£ 19 |
This shampoo is used by the professionals! it is not the watered down versions they sell in the salons! Specifically designed for coloured hair this shampoo helps hair stay more vibrant for longer and will last ages. Apply evenly through wet, massage and rinse. prices include postage |
L'Oreal Professionnel Mythic Oil Masque 500ml |
£ 19 |
This thick and creamy masque leaves your hair feeling beautifully soft, nourished and shiny! Apply to shampooed hair, I recommend you leave this masque on for 3 minutes before rinsing. prices include postage |
Fudge One Shot 300ml |
£ 18 |
Penetrates, strengthens and repairs the hair from inside, adds shine and softens the hair. A must have for long or chemically treated hair. The perfect detangling aid! Just spray evenly throughout the hair prior to blow drying. prices include postage |
Kitoko Oil Treatment 95ml |
£ 19 |
An indulgent blend of Karite and argan oil, rich in antioxidants, omega oils and vitamins A and E. Restores moisture and balance to uncontrollable hair and replenishes brittle hair and split ends whilst reducing blow drying time. Depending on hair type apply a few drops to damp or dry hair. prices include postage |
Schwarzkopf Silhouette Hairspray - Super Hold 750ml |
£ 8 |
Provides super hold whilst maintaining great shine. Contains micro-fine film formers for long lasting invisable hold. Spray directly onto hair approxiamately 30cm away from the hair. |
L'Oreal Mythic Oil 125ml |
£ 18 |
A blend of avocado oil and grape seed oil, leaves hair instantly more supple, manageable and tamed. Depending on hair type apply 1 or 2 pumps to damp or dry hair. prices include postage |


text:
Professional photographers will tell you that the most important thing for you to do on your wedding day is - just relax and be happy. 'enjoy the day' and they will make every attempt to ensure that you do.
The trouble is, you might say, there are so many things to see to on the day and how can I relax and remember everything that happens. The answer is simple your photographer will capture those memories and even help to keep things running smoothly.
Remember, you are paying a professional - a dressmaker, a florist, a car firm, hotel staff and a photographer - to see to everything concerning your wedding arrangements and a vicar, minister or a registrar to conduct the ceremony. Professional photographers have the experienced and know all about the 'pitfalls' - so you are in good hands. So, so let them do the worrying. After all that is what you are paying us for
There are of course the preparations to make sure everything goes smoothly and these are what you are going to enjoy and no doubt are enjoying now.
It has often been said something about the joy in a journey being in the traveling rather than the arrival?
Photographers also feel it important that as many people as possible who are attending your wedding should understand what the photographer is trying to do, as they have learned that most people who attend weddings find the photographer an inconvenience and a nuisance. After all, they want to get to the reception and just get on with the merry making!
But you are paying them to do a job and they want to do it to the best of their ability, so relax and prepare to enjoy the day.
Remember the trouble with photographs is that they have to be taken, so plan into your day enough time for your photographer to create this 'special photographic memories'.
Post by Phil Jones
Photo Quote: Millions of men have lived to fight, build palaces and boundaries, shape destinies and societies; but the compelling force of all times has been the force of originality and creation profoundly affecting the roots of human spirit. - Ansel Adams
2014 Societies Convention and Trade Show at The Hilton London Metropole Hotel ...
You have 40 days to book for the 2014 Convention Wednesday 15th January 2014
Wedding Trivia:RING FINGER
In 3rd. century Greece the ring finger was the index finger. In India it was the thumb. The western tradition began with the Greeks who believed that the third finger was connected directly to the heart by a route that was called "the vein of love."


text:
A major exhibition of Dale Chihuly's work debuts this evening at Litvak Gallery in Tel Aviv. The artist has made the trip to Israel to attend the opening of this retrospective show that includes his installations, Seaforms, Persians, Macchia, Jerusalem Cylinders, Venetians, Picollo Venetians, Ikebana and Baskets, as well as drawings, all of which will be displayed in the museum-like setting of this unusual commercial gallery. According to an exhibition essay by Barbara Rose: "His [Chihuly's] 2010 show at the Litvak Gallery in Tel Aviv is the result of a dialogue with the gallerist, Muly Litvak, which picked up, among other themes, the narrative of Chihuly's longstanding relationship with Israel." Continue reading
Daily Archives: December 16, 2010
OPENING: "Chihuly at Litvak" kicks off 25-year retrospective in Tel Aviv tonight
Filed under Exhibition, Opening
3 Questions For … Paula Hayes
GLASS Quarterly Hot Sheet: What are you working on?
Paula Hayes: I'm currently working on a show for the Wexner Art Center which opens September 2011. I'm also working on my show at the Tang Museum which is a series of dinners over the course of a year. All the dinners are on hand-made glass, ceramic, and hand-silk-screened linens: dinnerware. (Deborah Czeresko made the plates and glasses for me.) My installation at the Museum of Modern Art, "Nocturne of the Limus Maximus," is up until February 28th, 2011, and I maintain the plantings for the duration of the show. Jim Mongrain blew the terrarium in the center of the vertical piece. I'm also developing my "Paula Hayes Domestic" and "Paula Hayes Outside" lines which are accessible products for living with organic forms in daily life. There are some other exciting things in the pipelines but too early to say yet!! Continue reading
Filed under Artist Interviews, Exhibition, New Work


text:
Mineral rights
Mineral rights are property rights to exploit an area for the minerals it harbors. Mineral rights can be separate from property ownership.
Mineral estate[edit]
Ownership of mineral rights (more properly "mineral interest") is an estate in real property. Technically it is known as a mineral estate, although often referred to as mineral rights. It is the right of the owner to exploit, mine, and/or produce any or all of the minerals lying below the surface of the property.
The mineral estate of the land includes all organic and inorganic substances that form a part of the soil. Exceptions include sand, gravel, limestone, and subsurface water—which are normally considered part of the surface estate.
Mineral estates are sometimes severed from the surface estate. Such severance is accomplished with a conveyance or reservation of these rights. This conveyance or reservation includes minerals or substances considered minerals. Mineral rights do include hydrocarbon resources such as oil and natural gas, which are technically not minerals, because a mineral is formally a naturally occurring crystalline "solid". But nonetheless, legal regimes typically lump them together under this one term. Such a conveyance or reservation includes royalties, bonuses and rentals. In the absence of such a conveyance, the surface owner retains the rights.
In November 2013, Prince Charles declared that, unbeknownst to the Stoke Climsland villagers in his Duchy of Cornwall, he possessed the mineral estate under their homes, and gave them all an ultimatum with a December deadline to produce deeds that showed otherwise. His solicitor made reference the creation of the Duchy in the 10th year of Edward III (1337) and to a reservation by the Duchy of Cornwall (No. 2) Act 1844. Buildings erected before that time (as evinced by a lintel, corner or foundation stone) are free of this severance.[1][2]
Major elements[edit]
The five elements of a mineral right are:
- the right to use as much of the surface as is reasonably necessary to access the minerals,
- the right to further convey rights,
- the right to receive bonus consideration,
- the right to receive delay rentals[3] and
- the right to receive royalties.
The owner of a mineral interest may separately convey any or all of the above-listed interests. Minerals may be possessed as a life estate, which does not permit a person to sell them, but merely that they own the minerals so long as they live. After this, the rights revert to a predesignated entity, such as a specific organization or person.
It is possible for mineral right owners to sever and sell oil and gas royalties, while keeping the other mineral rights. In such case, if the oil lease expires, the royalty owner has nothing and the mineral owner still owns the minerals.
Freehold and non-freehold ownership[edit]
The status of the land is fixed by law, and is distinguished as being either a freehold estate or a non-freehold estate. Freehold means ownership in perpetuity. Non-freehold implies that the owner holds the rights for a specific time period, after which the holder no longer holds the rights.
Mineral Rights Leasing[edit]
The four major stages for mineral rights leasing are:
- Ownership
- Leasing
- The Division Order
- The Royalty Check
When it comes to property rights, the United States is special. As an individual, Americans are guaranteed the right to own the minerals beneath the land. No other country allows its citizens to own the minerals beneath the land.
A legally binding mineral title opinion is typically the only document that substantiates mineral ownership. In the 18th and 19th century, when land was originally deeded to individuals, the mineral estate naturally came with the land, and as long as it hasn't been severed (meaning the land and minerals remain together), stays with the land.
There are three distinct but related aspects of ownership. They are:
- Legal Description
- Net mineral acres
- Ownership Type
To bring oil and gas reserves to market, minerals are leased by oil companies through a legally binding contract known as a lease. This arrangement between individual mineral owners and oil companies began prior to 1900 and still thrives today. Before exploration can begin, the mineral owner (lessor) and the oil company (lessee) must agree to certain terms regarding the rights, privileges and obligations of the respective parties during the exploration and possible production stages.
Although there are numerous other important details, the basic structure of the lease is straightforward: in exchange for an up-front lease bonus payment, plus a royalty percentage of the value of any production, the mineral owner grants the oil company the right to drill for a period of time, known as the primary term. If the term of the oil or gas lease extends beyond the primary term, and a well was not drilled, then the Lessee is required to pay the lessor a delay rental. This delay rental could be $1 or more per acre. In some cases, no drilling occurs and the lease simply expires.
The duration of the lease may be extended when drilling or production starts. This enters into the period of time known as the secondary term, which applies for as long as oil and gas is produced in paying quantities.
The Division Order[edit]
A division order is a binding contract between a mineral rights lessee, which is usually the oil company, and the lessor, which is usually the owner of a mineral interest. The purpose of the division order is to show a schedule of how the mineral revenues are divided up between the oil company and the owners of the mineral rights. The division order is a contract that must be negotiated by the lessor and the lessee. Some common basic terms that should be decided on are:
- The term of the lease. Usually there is a primary term and a secondary term. Each term has conditions set up either by the lessor or lessee to fulfill.
- The royalty rate. This is how the rates are divided and how it is calculated from the revenues produced from the mineral rights.
- If the lessor receives a bonus
- If there is a delay rental agreement—any delay in production by the lessee for a negotiated period, the lessee can pay the lessor a negotiated amount of money per year to keep the contract active
- If there is a "shut-in royalty" agreement—royalties are paid at a negotiated rate per acre, only while the well is not producing oil or gas
Many other line items can be negotiated by the time the contract is complete. When all parties come to an agreement the division order states how much revenue goes to each party involved.
The Royalty Check[edit]
Mineral owners may receive a monthly royalty check if oil, gas, or any other substances of value are extracted from below the surface and either sold or used by an oil and gas operating company. The royalty paid is a function of the net value of the proceeds from the sale of the oil, gas, or other substance, multiplied by the owner's revenue interest decimal, less any amounts deducted for taxes or other deductions.
The revenue decimal used to calculate the amount of an owner's royalty check is calculated with the following equation:
- A = Net Mineral Acres owned
- U = Number of Mineral Acres in the oil and gas drilling unit or pool
- R = The Royalty assigned to the mineral right owner by the oil and gas lease covering his or her minerals
- P = Participation Factor assigned to the tracts owned by the mineral owner as described in a unit agreement
- Y = Additional Ownership Factor assigned to the owner's mineral rights by any other arrangement or agreement
Revenue Interest Decimal = (A÷U) × R × P × Y
It is common for Royalty Checks to fluctuate between pay periods dude to monthly changes in oil or gas prices, or changes in the volumes produced by the associated oil or gas wells. Additionally, royalties may cease altogether if the associated wells quit producing marketable quantities of oil or gas, if the operating company has changed hands and the new operator has not yet established a new payment account for the owner, or if the operating company or product purchaser is missing appropriate paperwork or proper documentation of changes in ownership or contact information.
See also[edit]
- Bergregal - mining rights in Europe
- General Mining Act of 1872
- Stock-Raising Homestead Act of 1916
- Air rights
- Easement
- Land rights
- Oil and gas law in the United States
- Split estate
- Water rights
External links[edit]
- How to File a US Federal Mining Claim
- 'War Brewing' over Mining Rights in Rural BC, TheTyee.ca, June 14, 2006
- "Video Tutorials for Mineral Rights Owners"
- Surface Rights vs. Mineral Rights
- What Is A Mining Claim, Legally?
- ^ "Prince Charles 'is a bully' for mining under homes, say villagers" 20 Nov 2013, Daily Telegraph
- ^ "Duchy of Cornwall (No. 2) Act 1844"
- ^ [1]
- ^ Stafford, Jim (1981). Look Before You Lease. Roar Press. p. 31.
- ^ Wagner, Bret. "Introduction to Mineral Rights Leasing". Mineral Rights Coach. Bret Wagner. Retrieved 30 December 2012.
- ^ http://sansabaroyalty.com/mineral-rights-information/division-order/
- ^ http://www.mineralweb.com/owners-guide/leased-but-not-producing/division-order/
- ^ http://pagaslaw.net/whats_a_division_Order.html
- ^ http://www.broadmoorminerals.com/faq.html


text:
July 31, 2009 by The Dove · Leave a Comment
1. Identify it for what it really is: False Evidence Appearing Real.
As human beings, we are essentially controlled by two emotions: love and fear. We act out of one or the other. The beautiful thing? We have the ability to choose the thoughts we think and the emotion we attach to them. While fear is pre-programmed into us as an instinctual response to potential danger, much of the every day stuff we fear isnt dangerous at all. We have simply convinced ourselves what were fearing is real.
Love Life, Not Stuff
July 7, 2009 by The Dove · Leave a Comment
Were in love with stuff – with shopping, with acquiring, with owning, with collecting.
Lets lust after life instead.
Our obsession with stuff has become unhealthy. When we have a void in our lives, we buy things. When we have problems, we buy things. And these things are becoming more and more expensive, bigger, shinier … more wasteful.
Mind Over Matter
May 7, 2009 by The Dove · Leave a Comment
Your state of mind and beliefs can help you find opportunity where others believe there is none. The Green Dove asked best-selling author of the Chicken Soup for the Soul series, JACK CANFIELD, how to stay positive while much of the world retreats into scarcity mode.


text:
GenEx uses two different graphical formats:
How to make high resolved graphics using Teecharts see:
For plots based on Lohninger graphics figures can be saved as bit maps (*.bmp) with default resolution of 72dpi. The size of saved bit map is the size of the graph on your screen. It is therefore possible to increase resolution of the figures somewhat as follows:
1. Maximize the graphics window in GenEx to make the plot largest possible, preferably with the width vs height ratio you like it to have.
2. Save the plot as bit map (*.bmp)
3. Open it again in your favorite graphics program (Photoshop, Corelpaint etc.)
4. Resample the picture by reducing its size and increasing the dpi proportionally (i.e., reducing to 25% original size you can increase to 4*72=288 dpi).
5. Save the file with the new resolution and size.


text:
Anticholinergic Syndrome Medications
Drugs associated with Anticholinergic Syndrome
The following drugs and medications are in some way related to, or used in the treatment of Anticholinergic Syndrome. This service should be used as a supplement to, and NOT a substitute for, the expertise, skill, knowledge and judgment of healthcare practitioners.
Drug Name (View by: Brand | Generic) | Reviews | Ratings |
Antilirium (Pro, More...) generic name: physostigmine class: antidotes | 0 reviews | Not rated Be the first |


text:
- March 22, 2013
- 6:58 p.m.
- Suggest removal
- Reply to this post
larrypayne writes:
in response to Jughandl:
See, that is the sad thing...we'll NEVER know. What I am against is people using abortion as birth control. Killing the babies is not a solution.
A vasectomy worked for me.
Want to participate in the conversation? Become a subscriber today. Subscribers can read and comment on any story, anytime. Non-subscribers will only be able to view comments on select stories.


text:
"Laughter is an instant vacation"
- Milton Berle
"The human race has one effective weapon and that is laughter"
- Mark Twain
"I am thankful for laughter, except when milk comes out of my nose"
- Woody Allen
"When humor goes, there goes civilization"
- Erma Bombeck
"A day without laughter, is a day wasted"
- Charlie Chaplin
"With comedy, you are allowed to laugh about the insanity . . . for a brief moment, everyone is connected."
- Robin Williams
"The Gods too are fond of a joke"
- Aristotle
"Learn how to laugh - a relaxed attitude will not only lenghten your life, it will make it much more enjoyable"
- Joel Osteen
"When people are laughing, they are usually not killing each other"
- Alan Alda
"A smile is an inexpensive way to improve your looks"
- Michelangelo
"Laughter is inner jogging"
- Norman Cousins
~ : : ~


text:
Nine Thirty
930 Hilgard Avenue, Los Angeles, CA 90024Map
W Los Angeles - Westwood
+1 310 443 8211
Neighborhood: Westwood
If you are tired of the standard, rich fare that most restaurants serve up, head to Nine Thirty, for a pleasant change. Here, all dishes are prepared with local produce and organic ingredients. What is more, you can watch the chefs in action through a glass wall that affords you a view of the kitchen, and patio seating is also available.
Write a Review
Thank you for submitting your review!
- Open Hours: Monday to Thursday from 06:00 AM to 11:00 PM, Friday to Saturday from 06:00 AM to 12:00 PM, Sunday from 06:00 AM to 11:00 PM
- Feature: Outdoor dining;Trendy;Organic
- Credit Cards Accepted: visa, mastercard, amex, discover, diners, jcb
Best in Los Angeles Travel
Los Angeles Travel Guide
Hilgard House Hotel
0.0 mi
W Los Angeles Westwood
0.0 mi
The Crescent at Legacy
0.2 mi
Claremont Hotel
0.2 mi
See All Los Angeles Hotels »
John Wooden Center
0.3 mi
See All Los Angeles Things To Do »
Backyard (The)
0.0 mi
Whiskey Blue
0.0 mi
Falafel King
0.3 mi
Tanino Ristorante Bar
0.3 mi
Diddy Riese Cookies
0.3 mi
See All Los Angeles Restaurants »
See All Los Angeles Nightlife »


text:
Friday, 13 September 2013
Friday Cartoon By Mark Anderson
Mark Anderson
is a professional cartoonist from the Chicago area. His cartoons have been published in Reader's Digest, The Wall Street Journal, Forbes, Woman's World and the Saturday Evening Post, to mention just a few. Among his clients are GM, General Electric, FedEx, Microsoft, and IBM.
1 comment(s):
Anonymous said...
Okay, that one was actually funny. He's getting better.
September 13, 2013
Post a Comment
Newer Post
Older Post
Subscribe to:
Post Comments (Atom)


text:
Published daily by University News and Communications, Glos Center, (513) 529-7592 or email@example.com.
Most Recent Issue »
Subscription Options »
The Scripps Gerontology Center at Miami University received a grant of $34,000 to fund distance-learning courses for nursing homes around the country on issues to improve quality of life for older individuals.
More News
At Miami University, as elsewhere, the H1N1 infection is expected to spread more quickly with groups of students reuniting at all levels of schooling. Already, the university has learned of three students with Type A flu that is presumed to be H1N1. They are receiving care.
This summer, IT services focused on realignment as the department adjusted to the recent budget cuts with some services relocated, reduced or eliminated. The following list outlines the newly implemented changes.
More Campus News
The new Farmer School of Business is highlighted in a back-to-school feature about regional colleges. Quotes seniors Scott Stockberger and Jackie Combs and Roger Jenkins (dean, Farmer School of Business).
Gene Metcalf (American studies) is quoted in a story about the contemporary art of Ben Harris. Also mentions that Harris' piece "Miss Liberty" was shown at a museum exhibit at Miami University.
In October, the Miami University Voice of America Community Alumni Network is hosting alumnus artist James Rauth's works from his recently published book Mannequin, and in November will change to highlight the watercolor works of alumnus Paul Sensbach.
More Miami in the News
Miami University home page Commentary Faculty/Staff Recognition Submit a Story
More Events
More Faculty Positions
More Salaried Positions
More Hourly Positions
email@example.com | Equal opportunity in education and employment | Privacy Statement © 2013, University Communications, Glos Center, Miami University, Oxford, Ohio 45056 Change subscription options


text:
My Info
My Sports | Abouthttp://www.youtube.com/watch?v=SuqUWD-9HCo ( I am in video at 7:40 and still shots at (9:38 and 9:49) Given Permission to Post by Dr Diana Wehrell-Grabpwski Filmed & edited by Dr. Diana Wehrell-Grabowski. Life Rolls On Foundation is a non-profit organization that exists to be a grassroots resource that provides help and is an advocate on behalf of young people whose lives have been affected by spinal cord injuries. Life Rolls On Foundation's program called "They Will Surf Again" is an adptive surf program where people with disabilities mostly with spinal cord injuries get the chance to surf. Some have never surfed before, some surf all the time, and some have not surfed since sustaining their injury. http://www.liferollson.org Tags: LRO TWSA surfing spinal cord injuries handicapped athlete paraplegic quadriplegic hemipelgic paralyzed disabled surfer wheelchair physical therapy disabledathlete rehabilitation extremesports inspirational GasBand Life Rolls On they will surf again Vertimax SCI=(spinal Chord Injuries) My BlogLife Rolls On "They Will Surf Again" Friday, August 14, 2009 11:40am PDT (4 years ago) 0 Comments0 of 0 No comments have been posted. Be the first! |


text:
You wanted to find out about indian bachi sexy, here are some of our members, why not join today for FREE;
Our aim is to be the premier place for sexy singles looking for great boyfriends or a wife or girlfriend. We are not like traditional uk dating agency offering matchmaking service latin women european brides, we provide a venue to uk chat and find WIFE LOVERS and platinum romance which may or may not end up with bad marriage. 8 minute dating differs for everyone, we didn't want to be just another uk introduction agency or dating services sex personals so we have built the site to allow you to post free personal ads san clemente ca to give you the best chance of finding a sex partner that shares the same passions as you. So what are you waiting for, go check out the teen personals and meet another Love Personals member looking for indian bachi sexy, thats how many love relationship have started!


text:
Articles & Blogs - Gold Commentary
The SPDR Gold Trust, more commonly known by its NYSE ticker symbol "GLD", represents a triumph of "bankster engineering" in the gold market. While it is supposedly a convenient way for small investors to hold "gold", what it is actually is an extremely convenient tool for the banksters to dilute the investor dollars flowing into the bullion market, and thus delay the rise in the price of gold.
It can be thought of as the "twin" of the iShares Silver Trust (or "SLV"). Because of the much more complex nature of the gold market versus the silver market, it is not as easy to draw inferences on the true purpose of this banker trading vehicle in the gold market based only on the trading taking place in that market. However, unquestionably it shares much in common with its silver twin.
As with SLV, the "custodian" for all the gold claimed to be held in this trust is the largest short-seller of gold in the world, UK banking behemoth, HSBC. Thus as with SLV, on its very surface GLD represents a massive conflict of interest. Any small gains for GLD unit-holders translate into enormous losses for the custodian, meaning that HSBC has a huge financial interest in limiting the profits of unit-holders as much as possible.
Further evidence that GLD was a creation for the benefit of bankers (and specifically HSBC) rather than shareholders can be obtained by any close scrutiny of the prospectus. Back in July 2010, I engaged in such an analysis, which I titled The Seven Sins of GLD. Regular readers will recall that I made several startling discoveries upon such scrutiny.
To begin with, there is no absolute requirement for the fund to invest all (or any) of the proceeds from the sale of units into the purchase of gold. The official "investment objective" of the fund is merely to "reflect the performance of the price of gold bullion" [emphasis mine]. In other words, rather than being structured as a genuine "gold trust" it is actually a self-described index fund – required to only track the price of gold, rather than being required to fully invest in bullion.
Indeed, the strongest statement which the fund Sponsor was prepared to make in terms of a "warranty" to unit-holders was that it "believes that for many investors the shares represent a cost-effective investment in gold". However, the prospectus expressly defines that warranty as a "forward-looking statement". It then later adds that with any/every forward-looking statement that "They are only predictions. Actual events or results may differ materially."
What this boils-down to is that the Sponsor offers unit-holders nothing more than its "belief" that the fund will maintain its holdings in gold bullion, while warning investors that they cannot rely upon that belief. The glaring lack of any firm guarantee for unit-holders becomes increasingly significant when we examine other clauses within the prospectus. To the credit of the Sponsor and custodian, they do warn investors how little protection or guarantees they have in their investment in the section on "Risk Factors".
Here the Sponsor does make one, firm guarantee: that the fund will continue to become more and more diluted over time. Specifically, while the original "intention" of the fund was for each unit to represent 1/10th ounce of gold, the Sponsor guarantees to investors that the gap between that original 1/10th ounce of gold and what unit-holders actually own will continue to increase over time.
Immediately we see one enormous difference between units of GLD and real bullion: real gold does not "evaporate" over time. Of course that difference is rather trivial compared to a much more glaring difference: the "counterparty risk" to which GLD unit-holders expose themselves.
Hold an ounce of gold in a safety deposit box, home safe, or buried in some secret "hiding place", and no matter what our lemming-leaders do to the global economy, that one ounce of gold will continue to be one ounce of gold. In comparison, GLD unit-holders have maximum counterparty risk.
Specifically, not only do the Sponsor and Custodian claim complete immunity from any losses caused to unit-holders by "acts of God", "war", or "terrorism", but they also seek to indemnify themselves from negligence, fraud, and willful default. Simply, under no circumstances could the (supposed) custodian for the unit-holders ever be required to deliver the gold it claims to be holding for those unit-holders "in trust". Even if HSBC's vault was over-flowing with gold it could simply choose not to deliver it to unit-holders, and all the unit-holders would ever be able to recover is their paper.
The prospectus further warns that the gold held in trust (inside HSBC's secure vault) could be "lost, stolen, or damaged". On top of that, the prospectus adds that the Sponsor can block "redemptions" (indefinitely) any time it decrees there to be an "emergency". Quite obviously, the gold held by the Custodian "belongs" in every meaningful sense to the Sponsor and Custodian – not the unit-holders.
Indeed, to refer to this structure as a "Trust" is simply perverse. The one assurance which unit-holders could rely upon: that the rate of dilution of the fund would be capped at a fixed maximum is about to expire. "D-Day" (i.e. Dilution Day) has finally arrived for GLD. Lest investors think this merely some administrative triviality, the fund's creators deliberately chose to be extremely melodramatic in this respect.
On the 11th day, of the 11th month, of the 11th year (November 11, 2011) the self-imposed cap on the rate of dilution for this fund expires. From this point onward, the fund will be diluted by any/all "expenses" incurred while administering the fund. This becomes especially important at this point in time, given one of the specific risks of dilution which the fund warns of in its prospectus:
"The Trust may be required to terminate and liquidate at a time which is disadvantageous to Shareholders."
With respect to this, the prospectus warns that because the fund is not "actively managed", it will sell off its gold to pay expenses "as necessary", and without the slightest regard to the current price of gold. Putting this together, the prospectus warns that dilution will increase over time, warns that its cap on expenses is about to expire, and further warns that when it pays for those "expenses" that it might happen to sell its gold at the worst possible time.
Who is incurring most of these expenses? HSBC. To whom will the sponsor be selling their gold in order to pay expenses? Given that the gold is sitting in HSBC's vault, obviously the gold will be "sold" to HSBC, since otherwise there would be significant additional transaction/delivery costs.
If HSBC should (by some lucky "coincidence") always forward its "expenses" to the Sponsor at a time of "sudden dips" in the price of gold, it has the potential for a substantial arbitrage windfall off of GLD unit-holders. Given the inherent conflict of interest upon which this fund was founded, this is obviously a substantial risk which no prudent unit-holder can afford to overlook. Should HSBC's costs (i.e. what it chooses to pay itself) for holding this gold in their vault "unexpectedly" surge higher, and should the Sponsor of the fund be "unlucky" enough to happen to always sell its gold when the price "unexpectedly" drops, there is no theoretical limit on the rate of dilution of this fund after November 11, 2011.
Worse, as I alerted readers back in mid-September, it appears that volatility is the new bankster weapon to try to frighten as many investors as possible away from the precious metals sector. This further magnifies the potential losses for GLD unit-holders should the Sponsor repeatedly be "unlucky" in selling its gold (to HSBC) at the worst, possible times.
Strip away the flowery "beliefs" of the fund's Sponsor, and GLD has never warranted itself to be anything more than an index fund: a vehicle for trading in paper gold. It offers the absolute minimum to investors in the way of security, while exposing them to numerous counterparty risks.
In roughly two weeks time, unit-holders can add a new risk to their list of worries: the potential for virtually unlimited dilution of any gold actually being held on behalf of those shareholders. When we couple that with the fact that the more that unit-holders lose the more HSBC wins, then the combination of a blatant conflict of interest and the potential for unlimited "dilution" (in HSBC's favor) represents an intolerable level of risk for any prudent investor.
The mainstream media loves to discourage the holding of "physical" bullion by pointing out that gold (and silver) "costs money" to hold. However, the one-time expense of a home safe, or the monthly fee for a safety-deposit box are trivial amounts, in return for completely eliminating both the massive counterparty risk and the enormous potential for dilution to which all GLD-holders are subjecting themselves. Beyond November 11th, this appears to be a lesson which those unit-holders are about to learn "the hard way".
written by Jeff Nielson, October 31, 2011
Regarding the recent announcement by the Royal Canadian Mint, I can't see any GOOD motives for it. On the one hand any time we hear about some new entity issuing paper CERTIFICATES (especially a mint), one has to wonder what the motive is. And even if these bullion accounts are legitimate, it again raises my fears concerning confiscation - and the MAJOR effort by bankers (and now governments) to HERD us into "funds" or "accounts" where confiscation is just a mouse-click away.
written by apberusdisvet, October 30, 2011
BTW: what are your thoughts on the recent announcement by the Canadian Mint to do a Sprott?
written by bobbbny, October 27, 2011
Buy bankster bullshit, die by bankster bullshit.
Physical only.
Just as aside, I go to a local flea market (pretty big, c.300 vendors) every week. I buy AG.
I must say that this place has pretty much been "mined out", and I am reduced to buying some halves & quarters & the occasional bargain piece of sterling (eg at melt value).
The local "I buy silver & gold" guy is gone.
Sit back & ask yourself, has the American public been a buyer or a seller of PM?
< Prev | Next > |
Latest Commentary
Gold Market Secretly Decoupling With virtually all "transparency" removed from our hopelessly...
Limiting Executive Compensation: the Swiss Example Obtaining perspective with respect to the issue of "executive compensation"...
The Fourth Reich It is historical fact that the United States "recruited" heavily...
Precious Metals Markets: Welcome to 'The Matrix' There will be few readers who are not at least partially familiar...
GATA Now Funded With Rothschilds' Dirty Money It's with a heavy heart that I write this commentary: the corruption...
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
Other Metal Companies
Latest Comments
Gold Market Secretly Decoupling
Thanks, Jeff... seems like a great indication of a...
Gold Market Secretly Decoupling
As a worn out gold bug... I have been waiting for ...
Gold Market Secretly Decoupling
As a worn out gold bug... I have been waiting for ...
Limiting Executive Compensation: the Swiss Example
[quote]Those CEOs are paid peanuts compared to Hed...
Limiting Executive Compensation: the Swiss Example
Those CEOs are paid peanuts compared to Hedge Fund...
Limiting Executive Compensation: the Swiss Example
[quote] I've read a statistic that says that a CEO...
Limiting Executive Compensation: the Swiss Example
I've read a statistic that says that a CEO of one ...
Limiting Executive Compensation: the Swiss Example
...But I also note a change in our favourite bulli...
Limiting Executive Compensation: the Swiss Example
Yes, it is deplorable what our CEOs can get away w...
The Fourth Reich
Great article Jeff, I fear that you are very proph...