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Decision relative to the petition of Bank Of America Corporation, Charlotte, North Carolina to acquire Fleetboston Financial Corporation, Boston, Massachusetts
By the Division of Banks
Bank of America Corporation (the "Petitioner" or "Bank of America"), a bank holding company, headquartered in Charlotte, North Carolina has petitioned the Board of Bank Incorporation (the "Board") under sections 2 and 4 of chapter 167A of the General Laws, for permission to acquire FleetBoston Financial Corporation ("FleetBoston"), a bank holding company, headquartered in Boston, Massachusetts. Petitioner and FleetBoston intend to effect the proposed transaction by merging FleetBoston with and into Bank of America. Bank of America and FleetBoston also each request approval pursuant to section 2 of chapter 167A of the General Laws to exercise options to purchase up to 19.9% of each other's outstanding common stock under certain terms and conditions set forth in reciprocal stock option agreements between the Petitioner and FleetBoston.
Notice of the petition, which was filed on November 21, 2003, was posted and published as directed by the Board thereby affording interested parties an opportunity to submit comments. A public hearing on the petition was held on January 27, 2004, in Boston, Massachusetts. The period for submitting comments after the hearing expired at 5 o'clock P.M. on February 10, 2004. The public hearing was well attended and lasted approximately three hours.
The Board has reviewed the application and other submissions of the Petitioner, the extensive oral and written testimony received at the public hearing, and the open comment period, as well as oral testimony provided to the Board of Governors of the Federal Reserve System (the "Federal Reserve"). Numerous comments and lengthy testimony on the petition were received from state and federal public officials, community organizations and individuals. Bank of America also submitted a supplementary filing dated February 10, 2004 addressing questions posed by Board members and those commenting on the petition at the public hearing. Subsequent filings were made by the Petitioner in response to additional inquiries from members of the Board.
The Petitioner is a bank holding company and financial holding company whose primary banking subsidiary is Bank of America, National Association, a federally-chartered bank subject to the supervision of the Office of the Comptroller of the Currency (the "OCC"). Bank of America, National Association operates in the states of Arizona, Arkansas, California, the District of Columbia, Florida, Georgia, Idaho, Illinois, Iowa, Kansas, Maryland, Missouri, Nevada, New Mexico, New York, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, and Washington. Bank of America, National Association (USA), also a subsidiary of Petitioner, is a limited purpose credit card bank based in Arizona. In addition, Petitioner's subsidiaries Bank of America Oregon, National Association; Bank of America California, National Association; and Bank of America, Georgia, National Association are limited purpose bankers banks that do not have retail operations. At September 30, 2003, Bank of America had total assets of $737.1 billion and total deposits of $408.5 billion. Based on total assets at June 30, 2003, Bank of America was the third largest bank holding company in the United States.
FleetBoston is a bank holding company and financial holding company whose primary banking subsidiary is Fleet National Bank, a federally-chartered bank with its main office in Providence, Rhode Island and subject to the supervision of the OCC. Fleet National Bank and its affiliated banks operate in the states of Connecticut, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. Fleet Maine, National Association is a national bank whose sole office is located in Portland, Maine. Fleet Bank (RI), National Association, a wholly-owned subsidiary of Fleet National Bank, is a limited purpose credit card bank based in Rhode Island. At September 30, 2003, FleetBoston had total assets of $196.4 billion and total deposits of $132.5 billion. Both Bank of America and FleetBoston are "well capitalized" institutions under applicable capital standards. The resulting entity will remain well capitalized. Bank of America's and FleetBoston's lead bank subsidiaries are each rated "Outstanding" under the Community Reinvestment Act of 1977.
Board approval is required under section 2 of chapter 167A of the General Laws in order for a bank holding company or out of state bank holding company "... to merge or consolidate with any other bank holding company ... ." (G. L.c.167A, §2 cl. (4).) As described above, Petitioner and FleetBoston also seek approval, pursuant to said section 2 of chapter 167A of the General Laws, to acquire up to 19.9% of each others outstanding common stock upon the occurrence of certain events. These reciprocal stock option agreements may have the effect of making an acquisition or other business combination of FleetBoston by a third party more costly and, thus may discourage certain third parties from proposing an alternative transaction to the merger with Bank of America. Bank of America and FleetBoston could exercise its option if the other party takes certain actions in connection with a merger or acquisition with a third party, subject to obtaining any required regulatory approvals.
In reviewing petitions under section 2 of chapter 167A of the General Laws, the Board is required to apply the review standards found in that section and section 4 of said chapter 167A. This section provides in pertinent part: "In determining whether or not to approve said petition [under section 2], the decision of the board shall be based on a finding whether or not competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted. In making such determination, the board shall consider, but not be limited to a showing of net new benefits." (Emphasis supplied.) The statute then proceeds to define the term 'net new benefits'. ("Net new benefits" is defined to mean "... initial capital investments, job creation plans, consumer and business services, commitments to maintain and open branches within the bank's delineated local community as such term is defined within section fourteen of chapter one hundred sixty-seven, and such other matters as the board may deem necessary or advisable." G. L. c. 167A, §4.) Said sections 2 and 4 prescribe additional requirements relative to reciprocity; deposit concentration limitations; a minimum age requirement for a bank to be acquired; the affordable housing loan programs of the Massachusetts Housing Partnership Fund; executive officer residency requirements; and, a two-year asset retention requirement. The Board also considers the record of performance under the state or federal Community Reinvestment Act of the bank subsidiaries of holding companies involved in a proposed transaction as well as the financial and managerial resources of the parties.
The proposed transaction before the Board is the largest transaction to come before it under the Commonwealth's interstate banking laws. Massachusetts passed the first regional interstate banking act in 1982 (St. 1982, c. 626.) (the "Act"). As signed into law, the Act provided for a regional compact among the New England states for holding company transactions on a reciprocal basis. It was used as a model for laws enacted in several other states for interstate holding company acquisitions within specified geographic regions. Upon challenge, the Massachusetts Act was held constitutional by the United States Supreme Court. ( Northeast Bancorp v. Board of Governors, FRS, 472 U.S. 159 (1985).)
Various arguments were made for such regional or limited interstate authority. As is often the case under the dual banking system which exists in the United States, such laws allowed the states to experiment with interstate banking. The results of the experiment could then serve as a basis for any broadening or expansion to nationwide banking. Additionally, if not more importantly, regional compacts would allow for the growth of regional multi-state bank holding companies to be more able to compete with money center holding companies.
After a number of regional transactions, Massachusetts eliminated the regional restriction and passed a nationwide interstate holding company law in 1990. (St. 1990, c. 102.) A number of requirements were added to the statute in consideration of the nationwide authority. Those provisions included the net new benefits test; the two-year asset based/retention requirements; the requirement for an executive officer to be a resident of the Commonwealth; and the affordable housing loan call requirement with the Massachusetts Housing Partnership Fund. A cap of 15% on the amount of deposits in the Commonwealth which could be controlled by one bank holding company was also added in the 1990 nationwide law. To reflect past regional transactions and to allow for additional regional acquisition, the deposit cap was increased from 15% to 25% in 1993. (St. 1993, c. 110, s. 199.) Four years after Massachusetts passed its nationwide interstate law, Congress passed the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 ("Riegle-Neal") providing for nationwide banking. Massachusetts adjusted its law in 1996 (St. 1996, c. 238.) to establish a three-year minimum existence for a bank to be acquired by a holding company as well as to increase the deposit cap limit in increments from 25% to 28% and then 30% as provided for in Riegle-Neal.
This brief history of the development of Massachusetts interstate banking laws establishes that the rules for nationwide holding company acquisitions have essentially been well settled since 1990. Moreover, the history of transactions over this period of time reflects that the four largest bank holding companies operating within the Commonwealth, BankBoston Corporation; Fleet Financial Group, Inc.; Shawmut National Corporation; and BayBank, Inc. ( See Decision of Board of Bank Incorporation relative to the Petition of Fleet Financial Group, Inc. to acquire Shawmut National Association (November 27, 1995) and Decision of Board of Bank Incorporation relative to the Petition of Bank of Boston Corporation to acquire BayBanks, Inc. (July 24, 1996).) consolidated into two organizations and ultimately one in 1999 with Fleet Financial Group, Inc.'s acquisition of BankBoston Corporation. ( See Decision of the Board of Bank Incorporation relative to the Petition of Fleet Financial Group, Inc. to acquire BankBoston Corporation (September 30, 1999).)
Some commenters raised concerns that the proposed transaction will eliminate the largest holding company operating in the Commonwealth and result, after the merger of the lead banking subsidiaries, in only branch offices in Massachusetts of a bank with its headquarters, and perhaps decision making, a thousand miles away. Those facts should, according to those commenters, lead to additional requirements and considerations by the Board. The statutory requirements as set out above do not reflect such additional restrictive scrutiny. To the contrary, the history of interstate banking in Massachusetts is significant on this point and reflects the Commonwealth's ultimate vision of acquisitions and consolidations by bank holding companies. Accordingly, the Board will consider the proposed transaction before it under the longstanding criteria and the Board's past decisions.
The Petitioner has submitted material to address the issue that competition among banks will not be unreasonably affected by the proposed transaction. Petitioner notes that it does not operate any branches within the Commonwealth and accordingly, there is no overlap with FleetBoston. Petitioner indicates nevertheless that Bank of America does have some customers located within the Commonwealth. These customers purchase both loan and deposit products. Loan products include credit cards, consumer mortgages, and commercial loans. Deposit accounts consist of checking, savings, and certificates of deposit. Upon review, the Board believes that both the number and volume of such accounts are de minimis to a consideration of the competitive impact of the transaction. The Board has also noted that this lack of overlap in banking operations in the Commonwealth resulted in the various indices used by federal regulatory agencies in measuring competition in a given banking market not having to be calculated with respect to the Commonwealth. Although the transaction will result in the third largest bank holding company in the country operating in Massachusetts, the Board recognizes that there remains a significant number of bank holding companies as well as independent community banks within the Commonwealth that will continue to provide competitive banking products and services. Accordingly, the Board finds that competition among banking institutions will not be unreasonably affected.
Public Convenience and Advantage
The Board has also considered the record of this application to determine whether public convenience and advantage will be promoted by this transaction. In the filed application, public testimony and supplemental filings, the Petitioner details how it believes the public will benefit by the proposed transaction. The Petitioner acknowledges that the services of Bank of America and FleetBoston are largely similar but that there are some unique products offered by each institution that remain under review on being offered by the combined entity. It notes however that as a market expansion transaction, a banking organization will be created that better serves the customers and communities served by both entities. Moreover, it argues that provisions of the merger agreement relative to business location provisions, board composition, and charitable giving reflect the interests of the communities served by FleetBoston.
As set out in the submitted documents, the combined entity would have approximately 5,600 retail banking offices as well as over 16,000 ATMs. Online banking, bill paying services as well as 24-hour telephone banking are part of the convenient delivery network resulting from the proposed transaction. After the merger of the lead subsidiary banks, the consolidated bank would have retail banking operations in 29 states. Additionally the combined banking institution would have a significantly larger lending limitation to one borrower which would benefit all customers seeking substantial credit from the combined entity. The Board recognizes that these advantages often result from any acquisition and particularly, as in this case, a market expansion transaction. However, the Petitioner emphasizes that the extent of the resulting service delivery network is unparalleled to the convenience and advantages that will be available to customers of the combined company.
In its several filings and oral testimony at the public hearing, the Petitioner cites the advantages that will result from the proposed acquisition. The submitted documents, oral testimony and comments received describe the various lending programs of the Petitioner which favorably serve the communities within its service areas. Those programs will be extended to and enhanced within the markets served by FleetBoston. Of particular interest to the Board is the small business lending of the combined lead subsidiary banks of the proposed merged holding company. As set out in the record of the transaction, the resulting entity would be the number one Small Business Administration lender in the country. As noted during the Board's questioning, 95% of the entities that pay wages in Massachusetts employ less than one hundred people so loans to very small businesses are important. In response the Petitioner stated it serves the smallest of small businesses. The average loan size within its small business area is approximately $35,000 and 90% of its client base are companies with sales of less than one million dollars and with employees of 100 or less. One aspect of the program allows a business owner who has been in operation for at least three months to apply for a $10,000 Small Business Administration loan. The Petitioner also reminded the Board that the national small business division of the combined company would be headquartered in Boston and run by an executive of FleetBoston.
The Board has also given significant review to the Petitioner's residential real estate lending and affordable housing programs. The Petitioner emphasizes its intent to be a leading home mortgage originator in all the markets it serves. Many of its loan programs are described in submitted documents or outlined in oral testimony. During this process the Petitioner has determined it will expand the number of loans to be made under the soft-second mortgage program and maintain membership in the Federal Home Loan Bank of Boston. Additionally, the Board is aware that arrangements with the Massachusetts Housing Partnership Fund will provide over $500 million being available for loans on affordable housing in the Commonwealth.
The record reflects other services and operations of the Petitioner which would be extended to Massachusetts if the transaction is approved. They include a variety of credit and other card products which customers find convenient and useful. The petitioner also cites its innovations in ATM technology with ATM's which better serve the visually impaired and bilingual talking ATMs for Spanish speaking customers. Bank of America's financial literacy initiatives would also be extended to Massachusetts under its program. The Petitioner is committed to developing methods to provide basic money management training and financial skills that foster savings for children and adults. The Board has considered numerous other programs of the Petitioner as set out below.
In determining whether or not to approve a bank holding company transaction under the statutory criteria, the Board is also required to assess the applicant's arguments and submissions that the acquisition will or likely will result in net new benefits. As set out previously herein, that term includes a showing of initial capital investments, job creation plans, consumer business services as well as commitments to maintain and open branch offices. The statute also allows the Board to consider such other matters as it may deem necessary or advisable. Net new benefits is a subset of the public convenience and advantage test. The Board's past consideration of this statutory criteria makes clear that such benefits may be immediate or prospective. Moreover, the Board's review is not a mathematical exercise of addition and subtraction. "The Board is empowered to weigh each net new benefits criterion and determine on balance within the broader public convenience and advantage standard is met based upon the totality of the circumstances, including other unenumerated factors deemed relevant by the Board." ( Decision of the Board of Bank Incorporation relative to the Petition of Fleet Financial Group, Inc. to acquire BankBoston Corporation (September 30, 1999) at 9.)
The Petitioner has addressed this statutory provision in its application, in oral testimony as well as in response to questions from the Board at the public hearing and within its supplemental filings on certain factors. The Board has scrutinized the information in these various documents and statements. The Board is satisfied that each of the components have been addressed. As with any transaction and particularly larger transactions such as this one, the specificity of detail differs among the components.
As a market expansion transaction, the Petitioner offers that capital investments will be made in the Commonwealth and that FleetBoston's branch office network will be maintained. Since Bank of America has no banking offices in Massachusetts, there is no overlap of branches that would lead to closures or require divestiture. The Petitioner asserts that the financial strength of the combined holding company will enable it to open new branch offices.
The Petitioner's application details the greater products and conveniences that will become available to consumers and businesses in the Commonwealth as a result of the proposed transaction. Additionally, it states that the product strengths of each company will be combined resulting in a greater range of superior products becoming available. The Petitioner also states that the transaction will bring to Massachusetts its strong customer service efforts as well as its strong focus on providing products and services targeted at ethnic and immigrant markets. A separate division of the Petitioner which would be extended to cover the FleetBoston markets, operates over two hundred banking centers on or near military installations worldwide to provide services to active and retired military personnel and others.
The application also describes innovative mortgage products and services it believes greatly benefit customers of Bank of America. It particularly notes programs with underwriting flexibility for low and moderate-income applicants purchasing real estate in low-income census tracts as well as a mortgage loan with greatly reduced documentation for qualified applicants. In addition to its small business loan program described previously, the Petitioner provides a vast array of lending products and services to small, middle market and large corporate customers. A separate division of the Petitioner providing retail brokerage, investment advising, trust and fiduciary services and operations will be integrated with FleetBoston's wealth management services group which, if the transaction is approved, would be headquartered in Boston.
The Petitioner has addressed the issue of job creation plans in submitted documents and oral testimony. It again stresses that the lack of overlap in banking offices in Massachusetts distinguishes it from other recent large transactions which have come before the Board. For that reason it states that all "customer facing positions", which is a significant number, will be retained. Bank of America acknowledges that there will be some reduction in the workforce in the short term from redundancy of other operations.
The Board addressed concerns on employment in the Commonwealth beyond tellers and customer service representatives in questions to the Petitioner in light of its statements and projections for after tax savings of $1.1 billion through 2005 if the merger is approved. The Petitioner approached the concerns raised by responding on several different fronts how employment levels will be maintained. In testimony to the Board it was emphasized that by the Petitioner's word as well as the signed Agreement and Plan of Merger (the "Merger Agreement"), Bank of America is committed to maintaining FleetBoston's current level of employment. ( See Agreement and Plan of Merger, Article I, section 1.11(b)(ii) (October 27, 2003).) Moreover, Bank of America states its intention over time to increase such employment consistent with the growth of Bank of America's workforce in the United States. The fact that seven of the nineteen directors of the combined entity will be from FleetBoston, as well as several high ranking executive officers from FleetBoston will hold significant responsibilities in the combined company and oversee some key units which will be headquartered in Boston, are also offered as evidence of commitment to maintaining employment in the Commonwealth. According to the Merger Agreement the combined company's Wealth Management, Latin American, Asset Based Lending, Small Business, Premier Banking and Leasing businesses will all be located in Massachusetts. In response to direct questioning from the Board, the Petitioner emphasized that any short-term job loss would come not only from FleetBoston but also Bank of America staff positions. Moreover it was stated that as much as 25% of projected savings would result from not filling existing open positions. The Petitioner further states that, if approved, the transaction will create jobs. Internally, the financial strength of the combined company will result in expanded operations and employee base as well. Externally, job creation will result from the significant loan programs and commercial lending business of the combined company, especially from its position as the leading Small Business Administration lender in the country. Past decisions of the Board have accepted that this component can be met by a prospective direct and indirect increase in employment. ( Decision of Board of Bank Incorporation relative to the Petition of Fleet Financial Group, Inc. to acquire BankBoston Corporation (September 30, 1999) at 11 n. 26 citing Decision on the Petition of Fleet Financial Group, Inc. to acquire Shawmut National Corporation (November 27, 1995) and Decision on the Petition of Bank of Boston Corporation to acquire BayBanks, Inc. (July 24, 1996).) For all of these reasons the Petitioner believes it has met the statutory criteria of net new benefits.
The Board has carefully considered and scrutinized all of the information provided to it on the criteria of public convenience and advantage as well as net new benefits. All of the documents submitted by the Petitioner and all other interested parties both in favor and against the proposed transaction have been read and all oral testimony presented at the public hearing has been considered and reviewed by the Board. Its analysis has been concluded.
In its deliberations on this application the Board has also given weight to a unique fact presented by this transaction. As further described herein, federal law caps the amount of deposits a bank holding company can control in the country at 10%. If approved, this transaction would result in Bank of America controlling slightly in excess of 9.9% of such deposits. As discussed at the Board's public hearing, it is clear that the Petitioner cannot make any acquisition, other than a de minimis one, under the existing federal cap. Therefore the Petitioner can only grow through expanded business within the areas of the combined company, if allowed to merge. The Petitioner clearly recognizes this fact and asserts that since all of its efforts would be focused on internal growth the result will be increased convenience, activities and benefits to FleetBoston's customers in the Commonwealth. The Board has considered this unique factor and all others discussed herein and finds that consideration of public convenience and advantage including net new benefits weigh in favor of approving the proposed transaction.
Community Reinvestment Act
Related to the issue of public convenience and advantage is the record of performance under the Community Reinvestment Act ("CRA") by Bank of America and FleetBoston and their subsidiaries. For financial institutions not directly under the jurisdiction of the Commonwealth, the Board initially looks to the publicly available descriptive rating and evaluation by a federal or another state's banking regulatory agency. The CRA activities of Bank of America's lead bank subsidiary were specifically discussed at the public hearing. The Board is aware that Bank of America, National Association received a CRA rating of "Outstanding" at its most recent evaluation conducted by the OCC as of December 31, 2001. Fleet National Bank also received an "Outstanding" rating at its evaluation conducted by the OCC as of July 23, 2001. All other subsidiary banks of Bank of America and FleetBoston that are subject to the CRA received either an "Outstanding" or "Satisfactory" rating at their most recent evaluations conducted by the OCC. The Board notes the statements of Petitioner related to its establishment of a $750 billion goal for community economic development over the next 10 years. Petitioner also states that this goal represents an expansion of the previous community development pledges of both Bank of America and FleetBoston. According to Petitioner, more that $100 billion of this goal will be achieved through lending and investment in FleetBoston markets, including Massachusetts. Petitioner has pledged to honor all existing FleetBoston community development commitments. The Board has reviewed the historical commitments in this area of Bank of America and FleetBoston and finds that each has a demonstrated a satisfactory track record of meeting their respective community needs. A key indicator of such performance is the "Outstanding" CRA evaluation ratings of both lead bank subsidiaries. It remains the position of the Board "that planned or future CRA related activities or loan and investment commitments do not substitute for a record of past performance in meeting the needs of an applicant's community or service area. It is to that record and available performance ratings from regulatory agencies that this Board will give the greatest weight in its consideration of a proposed transaction." ( Decision of the Board of Bank Incorporation relative to the Petition of Fleet Financial Group, Inc. to acquire Shawmut National Corporation (November 27, 1995) at 14.)
Additional Statutory Requirements and Other Considerations
By law, the Board must receive notice from the Massachusetts Housing Partnership Fund (the "MHPF") that satisfactory arrangements for the proposed transaction have been made pursuant to section 4 of said chapter 167A. The Board has received notice from the MHPF, in a letter dated February 27, 2004, that satisfactory arrangements have been made regarding Bank of America's affordable housing loan call obligations stemming from this transaction. In light of testimony at the public hearing, the Board has confirmed that the satisfactory arrangements made are for the loan call provisions of the MHPF.
The matter now before the Board involves an interstate transaction in which an out-of-state bank holding company seeks to acquire control of more than 5% of the voting stock of a bank holding company located in Massachusetts. Accordingly, the reciprocity laws of Petitioner's home state are subject, pursuant to the requirements of chapter 167A, to the review of the Commissioner of Banks (the "Commissioner"). Specifically the Commissioner must determine whether the proposed transaction is authorized under the laws of North Carolina for a Massachusetts-based company, under conditions no more restrictive than those imposed by Massachusetts. Based on a review of North Carolina law, the Commissioner has concluded that it is reciprocal and that the proposed transaction is permissible under the Commonwealth's Interstate Bank Act.
The Board reviewed the concentration of deposits, which would be owned by the Petitioner in the Commonwealth following the transaction. Such review is dictated by General Laws chapter 167A, section 2 which provides that no approval shall be given for a bank holding company acquisition if such acquisition would result in a 30% deposit limitation, subject to certain limited exceptions. According to information supplied by Petitioner as well as through independent review, the Board has concluded that Petitioner is within this limitation. Related to this is the limitation under federal law, Section 3(d) of the Bank Holding Company Act of 1956, as amended, which provides that an interstate application may not be approved if, upon consummation, the applicant would control "more than 10 percent of the total amount of deposits of insured depository institutions in the United States." It is the Board's understanding that Petitioner will be within this limitation as evidenced by the approval by the Federal Reserve on March 8, 2004 of Petitioner's application to that agency.
The two remaining statutory requirements have also been met by the Petitioner. In the initial application document filed, the Petitioner agreed to comply with the two year asset base retention requirement. In that same document, the Petitioner provided assurance that it would comply with the requirement that an executive officer of the continuing entity be a resident of Massachusetts. As set out previously herein and specifically named in the submitted documents, several executive officers of FleetBoston will continue to lead a number of major divisions of the combined company and some of those divisions will be headquartered in Massachusetts. Moreover, the current Chairman and Chief Executive Officer of FleetBoston will become the Chairman of the combined company. The Board has also noted that the Board of Directors of the combined company will meet eight times a year, three times in Boston and five times in Charlotte. Five officers of FleetBoston will also serve on Bank of America's Risk and Capital Committee, the highest executive authority within the company.
The resulting capital ratios and projections for the Petitioner are satisfactory. Management factors reviewed in consideration of the proposed transaction before the Board are also supportive of its approval. Bank of America and FleetBoston have each been involved in large merger transactions and would have the necessary resources to manage the integration of the two institutions. Additionally, all other requirements of statute relating to a bank holding company acquisition have been met.
The full record of this transaction reflects a number of issues being raised as to Bank of America, FleetBoston or their products services and operations. Those matters included but were not limited to basic banking programs, ATM fees, terminations of accounts held by certain individuals, market timing issues with mutual fund subsidiaries of both entities as well as compliance with the abandoned property laws of the Commonwealth. The Petitioner addressed some of these matters at the public hearing and in a supplemental filing. Other issues remain under review by the Petitioner for determination on products and services to be provided by the combined company. The Board is aware that certain activities within the mutual fund subsidiaries have resulted in remedial actions by both entities as well as in fines and settlements with other regulatory agencies. In supplemental filing the Petitioner has affirmed its previous comments and agreed in writing to comply with the Commonwealth's abandoned property statute particularly as to abandoned money orders, cashier's checks, treasurer's checks and certified checks. The Board also received updated information from commenters on matters which were the subject of oral testimony at the public hearing.
Based on the record of this matter including the testimony received at the public hearing considered in light of all relevant statutory and administrative requirements, the Board finds that competition among banking institutions will not be unreasonably affected, that public convenience and advantage will be promoted by consummation of the proposed transaction, and that the records of performance under CRA by the banks involved in this transaction are consistent with its approval. Therefore, in accordance with these findings and pursuant to the statutory authority cited herein, the Board approves the application and authorizes Bank of America to directly acquire up to 100% of the stock of FleetBoston. The Board hereby additionally approves the requests of Petitioner and FleetBoston to acquire up to 19.9% of each others common stock upon the occurrence of certain events in accordance with the reciprocal stock option agreements submitted with the Petitioner's filing with the Board.
The approvals granted herein are subject to the condition that all related transactions are completed within one year of the date of this Decision and that Bank of America adhere to the commitments and representations it made to the Board during the application process.
Therefore, in accordance with its findings above and pursuant to sections 2 and 4 of chapter 167A of the General Laws, the Board hereby approves Bank of America Corporation's application to merge and consolidate with FleetBoston Financial Corporation.
Steven L. Antonakes ___________________________ Commissioner of Banks | |
___________________________ Commissioner of Revenue | Board |
Timothy P. Cahill ___________________________ Treasurer and Receiver General | |
March 31, 2004 _____________________ Date |


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It looks as if the soon-to-be demolished Kinsmen Aquatic Centre will be making way for a 94-unit enhanced seniors' condominium and apartment complex.
Caleb Group of Saskatoon has proposed a purchase and sale proposal for the approximately 2.85 acres of land at the Kinsmen Aquatic Centre site.
The centre and adjoining tennis courts would be impacted at the intersection of 18th Avenue, Diefenbaker Drive and 106th Street. The plan would be for the tennis courts to move to a new location.
The offer came together quickly, according to Mayor Ian Hamilton.
"This group, the Caleb Group out of Saskatoon, approached the City recently (about) their desire to identify locations in the city that would be adequate and appropriate for their proposed development," said Hamilton.
The group indicated they had many calls from North Battleford residents looking to establish such a site in the city.
"Yes, we're very excited about the potential of attracting that investment to the community," said Hamilton.
The proposed deal would accomplish a goal of providing additional seniors housing. The Caleb Group proposal is for an assisted living environment, as opposed to the Level 3 and 4 offered by the new Harwood Manor in the city's north end.
The location was appealing as well, due to the proximity to Centennial Park and to the track and lawn bowling nearby.
"It's just a really nice area that would be amenable to such a development," said Hamilton.
The proposed deal would also resolve issues surrounding the site in the wake of the recent decision to demolish the Kinsmen Aquatic Centre after it closes later this year.
"The City had been struggling with some of the issues around the Kinsmen pool site," noted Tim LaFreniere, city planner, in his presentation to council. Among other things, the proposal presents an opportunity to offset some of the costs from demolition as well as attract an important senior citizens' complex that would be close to the amenities at the park.
The process under the Planning and Development Act calls for a public hearing to happen on the same night that second and third reading takes place on the two bylaws. One bylaw would authorize the sale of the park land while the second bylaw rezones the land from I Institutional to R4 Residential.
There will be two public notices placed in the newspaper to alert the public before the public hearing, in respect to the sale and the rezoning.
The memorandum of understanding regarding the purchase and sale agreement with the Caleb Group for the seniors' condo/apartment was approved in a resolution by council. According to the resolution, the following steps are to be undertaken: that the proposed sale of land be considered in accordance with the principles of the Planning and Development Act, 2007, the net proceed from the sale of land be used for parks purposes, and a bylaw be undertaken to consider the proposed sale of land and a bylaw to rezone the site be prepared for first reading prior to advertising.
While council did vote to approve the memorandum of understanding and the bylaws authorizing the sale and rezoning received first reading, the second and third reading have been put off to a later date to allow the City to schedule the public hearing and obtain feedback and input.
According to a non-binding letter of intent from LaFreniere dated April 16, the price for the land amounts to $288,650 per acre with the final price to be determined by survey. Payment is to occur on closing.
The closing date is to occur 90 days after the purchaser receives a development permit. According to the terms of the deal the purchaser will apply for the development permit on or before June 15, with confirmation that the purchaser has obtained a development permit suitable to city bylaws on or before June 26.
The fate of Kinsmen Aquatic Centre was sealed in April when council accepted a Parks and Recreation Department recommendation to demolish the building. The recommendation to demolish came after consultants reported the mechanical system was in poor shape and upgrades to the building would cost in the millions of dollars.
A date has not yet been scheduled for the demolition, which will not take place until after the new Co-op Aquatic Centre opens.
Also still to be determined is what to do about the tennis courts. The relocation of the tennis courts is likely to be the big issue, particularly in terms of how quickly those can be replaced.
"Once we finalize this process, the faster we can determine the new location for the tennis courts," said Hamilton.

subset: commoncrawl


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Pictures are great. People understand them. When someone sees a picture of a house, they are likely to recognize it as just that: a house. Similarly, when someone sees a picture of a small house next to a large house, they will immediately determine some kind of proportional relationship between the two houses. This is one reason why we see pictorial charts in books, magazines and newspapers (oh, right, and on the internet too). Robert Harris, in Information Graphics, points out a number of other benefits of pictorial charts:
- To make the document more interesting and appealing.
- To make the material more understandable to a greater number of people [they are not language-dependent].
- To improve communication in situations where the appearance of an item is better known than the name.
- To facilitate easier reading of a chart or graph by including information to orient the reader that otherwise might have been shown in a legend or note.
I can get behind these points (though, it should be said that if a chart is not needed, it probably should not be added simply to "make the document more interesting and appealing"). Pictures may be understood faster than bar charts, where the reader must trace the horizontal and vertical axes to their respective labels in order to determine what (and how much) is being represented.
That doesn't mean we should always use pictures though. In fact, we should be careful with them. A picture can be too specific or too general, inadvertently leaving out some part of the dataset in the mind of the reader. (Who is this guy, anyway? I don't look like that guy!). Pictures and icons can also be tricky because of different accepted traditions and conventions. A good rule of thumb might be: if you aren't sure the picture clearly represents your data set, don't use it.
One particularly popular—yet often misleading—form of pictorial chart is the proportional chart or diagram. Here are some examples… and thoughts on how we could do better.
Oh, my. What do we have here? From Arkin's Graphs: How to Make and Use Them (1936), these are… well, oranges. The orange on the left represents "44,319 carloads of oranges"; the orange on the right represents "84,944 carloads of oranges". I wonder if it the US Department of Commerce retained a single car for 10 years explicitly to facilitate this orangey comparison. That seems likely enough.
But in all seriousness, this is a pictorial proportional diagram that isn't entirely necessary (except as an example of what not to do, as the author has used it). Generally, readers cannot estimate volume based on a diagram nearly as well as they can other visual variables. What about you? When you first saw this, did you look at it and think, "Golly, they sold 1.9 times more carloads of oranges in 1931!"? Or did you simply think, "Hmm… more oranges 10 years later."
These ladies make the orange chart look like a work of information visualization genius. Arkin stands behind this one, suggesting that it is a stronger graphic since the volume of the figures is used to make the comparison and the pictures are representative of the data they depict (that is, the appearance of the women varies based on age bracket). Sexism of the trans-generational shopping bag aside, charts of this type have another problem to contend with. If volume of a simple shape is difficult to ascertain, deducing it from a complex or irregular shape is nearly impossible. Schmid (Handbook of Graphic Presentation guy) lists a number of common shapes which are particularly difficult to read in this context: humans (d'oh!), ships, automobiles, houses (whoops!) and domestic animals.
Our old buddy, Brinton weighs in on this topic too. He explains the problem with a specific method: "Charts of this kind with men represented in different sizes are usually so drawn that the data are represented by the height of the man. Such charts are misleading because the area of the pictured man increases more rapidly than his height. Considering the years 1696-1700, the pictured minister has about two and one half times the height of the man representing public service. The minister looks over important because he has an area of more than six times that of the man drawn to represent public service. This kind of graphic work has little real value." Right on, Brinton.
A reoccurring theme in all of the pieces I've read on these charts is that: a. they are really easy to read, but b. they are often accidentally misleading, so c. the shapes used should be as uncomplicated as possible. It makes me think… you know what shape is really uncomplicated? A bar… you know, as in "bar chart". Ha. Nothing is perfect.
That said, some intriguing alternatives to these somewhat awkward proportional charts have gained popularity of late. Some of you may remember one viral graphic from 2009 showing what $1 trillion looks like. While I'm sure there are arguments against using 2.5D space in this graphic (oblique pie charts are the worst, right!?), I actually find that it emphasizes the point. It gives the reader the ability to say, "Gosh! That money is as far as the eye can see!" Perhaps more to the point, if the author attempted creating this graphic in 2D, there would be some major readability issues due to scale. Imagine all of those palettes stacked vertically in one row. Yikes.
After all, the pictorial chart is not unlike most charts, graphs and maps. Compromises need to be made. As long as those compromises are managed well and the readers are aware of them, they are generally quite effective.
ps. I do enjoy this planet and star size comparison video.
pps. Odd timing: immediately after posting this, I saw that information aesthetics had a moderately related post today entitled Social Compare: Visually Compare the Size of Objects and Concepts. Check it out.
ppps. Bonus chart, from Manual of Charting (1924). Hogs, Rubber and Houses. Veritable peas in a roaring 20s pod.


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Looking forward to many nights of great programming at GMC and SSU. Rick is a world-class programmer/booker/marketer whose presence is Sonoma County has been missed since WFC decided they didn't need him. It is wonderful that Rick will now have a world-class facility to present world-class talent at.
Rick has an extraordinary talent and attention to detail. His passion for the work he does shows in every single act he books and manages. I worked with Rick for 6 years at the Wells Fargo Center, and I know first hand how exceptional his work is. Rick will excel at the Green Music Center. Congratulations Rick!
Congratulations to Rick, and to the Green Music Center for acquiring this rare gem. Rick's professionalism, dedication, creativity and talent for choosing the right artist for the right venue are insurmountable. I have known Rick for 29 years, he is one of the most giving people I have ever met, truly an inspiration. His work ethic, knowledge of the business and passion for his work aer extraordinary. Without a doubt, the most memorable concerts I have experienced have been Rick's. I am looking forward to many more thanks to him. Bravo!
Lisa is correct; co-dependency is indeed dangerous. But in my opinion, enabling is a whole lot worse, and Efren's two arrests in the past 10 months prove it. Perhaps if his "handlers" had gotten him some help after his display of ghetto-like conduct in San Diego last September, he would not find himself in the precarious situation with which he is now confronted. Well said, Latino Dems; the bar is indeed higher -- much higher -- for elected officials. No double standards, please.
Congratulations Rick and to the GMC. What a great move for both. I have had the pleasure of working with Rick for over 5 years and love his style. He is dynamic at what he does. His attention to detail is second to none and in the Entertainment Industry it is a necessity. I am excited to see what entertainers come through. Kudos to Rick and great choice for the GMC.
As a person of mixed heretige, white and native american, I can identify with your intervussies.I was raised to be an all white kid, even though I was kinda "Tan".I always believed I was different.I am now 57, and have finaly realized a commitment to mother earth,as my native american people always have. Having to choose between different cultures, espessialy these days, can mess a person up.
I've known Rick for years and seen him work events. He's level-headed and works well under pressure. One can tell he loves what he does because he's impassioned, and shows consistency and drive.
Wow!! Rick at the GMC! Very good move! Rick has a strong, proven track record of attracting mainstream talent and working with them on numerous occasions. He has such a unique way of connecting the performer with their audience, while providing a very detailed but relaxed environment. Being part of Green Music Center is a win-win!!
No one is jumping to conclusions. Mr Carrillo himself- and none of his supporters have disputed the FACTS that he was arrested in his underwear, drunk or high and trying to make contact with a woman in the middle of the night in way that was so frightening to her that she called 911 twice. While he is innocent of any crime (including any sexual assault or burglary charge that the police report alleges) That doesn't mean that he is exempt from ANY judgement about his behavior-which HE HIMSELF acknowledges. Even if this was just 'a mistake' (and the second of some really poor decisions) it's our right as citizens and people who endorsed and gave him support to speak out. And he is NOT the victim here. The woman who was woken up at 3 am by man in just underwear is the victim. And sorry but women's rights to be safe in their homes and not have elected "leaders' trying to get into their bedroom window is more important than Efren's entitlement to a six figure political position. Yes people make mistakes every day. And the average person pays for their mistakes- he doesn't get a 'free pass' for being a political big shot. Any other Latino caught by police in his undies at 3 am -would have been tested for DRUGS and ALCOHOL and would not be out on bail the next day like Efren was! (especially a on a weekend) Working class people who get busted on Friday usually stay the WHOLE weekend. I think people who keep asking for Efren to get special treatment because of who he is are part of the reason he keeps getting arrested. Co dependency is dangerous.
Rick brings true professionalism to any position he holds--this is great for the Green Music Center and Sonoma County! He treats the artists, the audience and the venue with equal respect.
Wow, the Green Music Center (and Sonoma County) is very fortunate, indeed. His shows are always big hits and some of my favorite comedians and musical artists have performed in the area thanks to Mr. Bartalini; Lisa Lampanelli, Bill Maher, Kevin James, Diana Ross, Josh Groban, Dolly Parton, Olivia Newton-John, Wynonna Judd, Johnny Mathis, Bonnie Raitt, and so many more (can't remember them all). The folks at Sonoma State should be thrilled to have his kind of dedication to sell-out shows and artists' satisfaction. Best wishes for many more years of awesome shows to come.
Kudos Green Music Center for hiring such an extraordinary talent in Rick Bartalini! He was pivotal in putting LBC (Wells Fargo Center) on the map in securing sought after acts, mostly because no one handles A list like Bartalini. From both the artist and fan perspective, each show he produces is professional, well executed and memorable. He doesn't miss a detail and i know i speak for a large percentage when i say - well played Green Music Center...well played!
The Green Music Center has made quite the catch with Rick Bartalini! I have had the pleasure of working with him, and he will bring nothing but success and happy patrons to the Green Music Center.
No one can put together a show like Rick. His shows are always a memorable experience for both the fans and the artist. Very excited for what's to come from his new shows and Green Music Center!
Rick is a world-class producer! Look for more wonderful shows at the Green Music Center.
Why on earth would you jump to conclusions like this before charges are even brought against him? I'm not defending his actions, but people make mistakes, especially after they've had a bit too much to drink, and the media blows things out of proportion and pretends that being perfect is a prerequisite for being a politician.
Don't you think people can learn from their mistakes, be humbled by them, and be better for it? That's how depth of character is formed. In a country where so many politicians are bought and paid for, pandering to big money instead of serving their communities, authentic, accessible politicians like Efren are priceless.
Please let the facts come out and let the court do its job before spreading such harsh criticism and jumping to such strong conclusions...what's with the hurry to condemn a man that so many in our community value?
Pretty well balanced article. But I don't believe there's a need to "finesse" the labelling so as not to turn away customers. If the words "contains GMO ingredients" scare people, it's because the industry has not done a good enough job educating the public on how "safe" and "beneficial" and "necessary" GMO crops are...if they want us to believe, they need to stop trying to trick us and bully us and actually do the necessary studies, have the necessary conversations, and tread lightly...this is public health we're talking about...and what's with their hurry and secrecy, so that their executives can make more money? Please...whether or not there's any basis to all the GMO fears, nobody has done a good job communicating with the public about them, and that alone is cause for concern...
oh and Travis is a racist moron.
Latinos have brains of their own, they are more patient, not hateful and leave judging up to God and the courts. But I don't speak for all latinos.
if the guy does his job now that he's back then i just say wait. my 2 cents
Why is this group hell bent on getting him out of office, out of all the things they could be working on, before charges are even brought up? Could it be... politics?
That they want someone who will give them what they want in there ASAP?
Maybe the guy will be charged with a felony, maybe less, maybe nothing, later this week, I think... so why not wait until he goes on trial like eveyone else in this country?
No mercy latinos!!! Mistakes and alcoholism are for weak losers, and trials are for sissies! Latinos gotta stick together and say "Show no mercy!" People can't change sorry.


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Per Danny O'Neil of the Seattle Times twitter feed this AM, we've learned the Seattle Seahawks have released CB Donny Lisowski to open roster spot for Terrell Owens.
— Danny O'Neil (@dannyoneil) August 7, 2012
#Seahawks release CB Donny Lisowski to open roster spot for Terrell Owens.
We were really pulling for Donny. The local kid from Seattle by way of Montana.
Lisowski went undrafted in this year's draft, but was given a chance via rookie minicamps. The team brought him in as a body to work with the drafted rookies and impressed coaches so much, they signed him.
It's a long shot, but entirely possible that if Pete likes him enough we could see him come back to the roster one day, OR grab a practice squad spot. Time will tell.


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Video: Intel IT members discuss folding user-owned devices into the IT infrastructure safely and efficiently.
In the changing IT landscape, one device fits all no longer holds. Intel helps you prepare for change and equip your employees with the right devices.
Enterprise Strategist Jim Henrys discusses the enterprise impacts and benefits of employee-owned tools and bringing your own device like smartphones.
Putting Consumerization in Context
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BMW meets business and technology challenges in speed, power, and efficiency, providing Intel® Core™ vPro™ processor-based Ultrabook™ 2 in 1 devices.
How Intel IT developed a methodology to assess the viability of a bring-your-own stipend program and the results they found.
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How to enable the modern workforce; the challenges and opportunities of creating a truly mobile enterprise in the new world of devices.


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Tag Archives: mega drive
Wed, Apr 24, 2013 | 21:40 BST
Cardboard museum: the nostalgia of moving home
It's amazing what you can find when moving home. VG247′s Dave Cook takes stock of his forgotten gaming treasures as he heads back to Scotland, and reflects on the state of the industry today.
Fri, Mar 13, 2009 | 14:46 GMT
Buy a new Mega Drive with 15 games for £38
The Friday rollercoaster continues to loop-the-loop. Someone just dropped us a link to this, a new version of Sega's Mega Drive, complete with 15 games, for £38.
It comes with two pads and the following: Alex Kid, Alien Storm, Altered Beast, Arrow Flash, Bonanza Bros., Columns, Crack Down, Decap Attack, E Swat, Fatal Labyrinth, Flicky, Gain Ground, Golden Axe, Shadow Dancer, Sonic And Knuckles.
Not 100 percent on this, but we've just been told it plays any-region Mega Drive carts.
Have fun.


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J&J Reports Mixed 4Q Results
FBN's Diane Macedo breaks down the stories moving the markets ahead of the trading day.
Jan 22, 2013
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FBN's Diane Macedo breaks down the stories moving the markets ahead of the trading day.
Jan 22, 2013
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This is -- Imus in the morning.
I'm gonna -- Good morning everyone shares of Johnson & Johnson -- trading lower in the premarket after the health -- company reported mixed fourth quarter results.
-- While revenue came minutes seventeen point six billion dollars that was below the forecast.
For seventeen point 67 billion looking ahead the company expects to earn an adjusted five dollars 35 cents to five dollars 45 cents a share.
For -- -- thirteen in the estimate there is for 549.
Shares of Verizon meanwhile -- trading lower in the premarket after the company's fourth quarter profit miss the street's forecast.
Verizon says it earned an adjusted 38 cents a share sharply below the estimate for fifty cents the company -- -- -- sandy cut its per share earnings by seven cents.
And it had warned that the storm -- hurt its bottom line.
Revenue of thirty billion dollars roughly matched expectations.
-- says at the end of 2012.
Smartphones accounted for more than 58% of its wireless retail customer phone base.
Up from 53%.
At the end of last year's third quarter.
Shares of travelers.
Are higher after the insurance company reported a sharply higher than expected fourth quarter profit even if you factor in the cost of super -- sandy.
On an adjusted basis the insurance company says it made 72 cents a share.
Easily beating the estimate for fourteen cents revenue rose 2% from last year to nearly six and a half billion dollars.
Travelers reported 689.
Million dollars in catastrophe losses nearly -- From sandy.
And forgetting here you can now from Freeport Mac ran the mining companies reporting a profit of 78 cents a share better than the estimate for seventy cents.
Revenue came in also slight beat there at four point 51 billion dollars the expectation was for four point 47 billion.
Checking the markets now here in the US.
Trading resumes following the Martin Luther King holiday futures are fairly flat Dow futures are down fourteen yes -- down to the NASDAQ is up.
By one and earlier we were talking about global unemployment with one of our guests will Lawrence cement -- has done some digging on the issue and she has all the numbers for us on that UN.
Dim forecast Clark.
It is pretty damn good morning while we saw a record unemployment around the world for 2012.
This year's not looking any better 202 million people will be unemployed.
Globally and that's gonna rise again next year so no released to 200 and -- and so what's the reason.
Aren't the big countries the big economies doing a little bit better economically speaking -- answer is yes but now we have to deal with that trickle down effects.
Nations in Asia Africa they're expected to see high unemployment over the next couple of years and it -- -- There's at least.
Who love boarding planes might find this to be good news -- some new options from southwest.
Yeah -- another C.
Another feed Eric they're charging you for everything these days southwest which is the discount carrier that still let's bring bags on -- bags they're afraid.
If you want you can pay forty dollars to get on the plane first you -- the first fifteen people to get on this -- -- -- with extra leg around the more -- basics extra.
They tested this in San Diego last month and it was successful we're willing to pay for these things and the -- because they don't get any Stella.
This is probably going to be pretty popular you have up until 45 minutes before your your plane takes off to -- that CN do -- -- at the gate at southwest.
Some of gotta pay the bill the airlines will find a way like her -- -- -- emanate from the newsroom -- appreciated them zero -- And forgetting -- in now from PetMed Express the -- that pharmacy is reporting a profit of 23 cents a share topping the estimates for eighteen cents.
Revenue came minute 49 point six million dollars the estimate there was 450.
Million dollars.
Let's get the latest on weather now from meteorologist Maria Molina in our Fox Business weather center we've been spoiled on the East Coast with a pretty mild winter -- -- -- that might be changing.
Yeah that's right we're totally changed today -- over the next several days as well we have very cold air from Canada.
-- stand down into portions of the midwest over the last couple of days and now guess -- -- is over the northeast current windchill temperatures in the single digits along and in five quarter from Boston down to Philadelphia -- -- -- Looking at occurring windchill temperature at seven degrees but it's even worse across interior sections of the northeast where you're talking up temperatures -- windchill temperatures.
A fifteen below zero in buffalo sixteen below zero over in Detroit so we do have wind -- warnings in effect.
And also advisories across places in the midwest into the northeast because.
It's so cold -- and that's frostbite and hypothermia could be concerns out here -- -- outdoors without proper protection.
-- bundle up everybody thanks -- area think.
Let's take a look at commodities now oil and gold -- -- those done by six cents both up about three bucks Imus in the morning continues right now on Fox Business.
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Your thoughts on if marketers are making Christmas come too early, interview with Leslie Bradshaw on Ad Council's new web initiative and how to balance innovation, experimentation and a steady brand.
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To respond, leave us a comment on the show notes or leave us an audio comment at (202) 596-7220.
Referenced Links:
- My.AdCouncil.org
- Aardvark Question – "Is now too soon for a business to be marketing their Christmas specials?"
- Study On Fortune 100 Companies' Twitter Personalities (via Mashable)
- Ferrero, Hershey Mull Cadbury Bid Possibilities, Cadbury/Kraft Bid Challenge (via CNNMoney, NY Times)
- White Paper: The New Female Consumer – (via AdAge)
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text: Pulsafeeder's lines of Mechanically Actuated Diaphragm Pumps are designed for extreme environments including outdoor services, elevated process and atmospheric heat, and aggressive installations. Offering extensive materials that can handle a variety of liquid, chemical, and gaseous solutions over a broad range of temperatures, pressures, and corrosive services. Every pump is configured to order with the customer designated wet-end materials that match the chemical requirements of the target application. Pulsafeeders Mechanically Actuated Diaphragm are easy to maintain and can be repaired in the field without having to disassemble the whole system.


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I'm working on a dual language website (english+hebrew) the website uses wpml+wpec. I'm looking for the hebrew language files (mo/po) – where can i get them?
Take the tour
WordPress Answers is a question and answer site for WordPress developers and administrators. It's 100% free, no registration required.
host there own GlotPress which has most of the strings translated to Hebrew at http://languages.getshopped.org/projects/wp-e-commerce/he/default and you can always contribute the rest :) | |||||||||||||


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Planning a tropical vacation? Your excitement for your getaway is no doubt growing by the day.
But along with that excitement there may be a creeping sense of dread and/or anxiety. However, you don't need to worry because there are several last minute things you can do to look better in a bathing suit for your vacay!
Bathing suit
It's important choose a swimsuit that flatters your body type as well as compliments your style. Black is always slimming; halters are too. There are so many swimsuits out there now which are using tummy slimming panels, and other details to slim and lengthen. Self-conscious about your tummy then opt for a one piece or tankini. Always choose a suit with enough support in the bust.
Remember to keep in mind that your entire look is important, so don't forget about coverups. Choose pretty sarongs, sundresses and tunics that compliment your swimsuit. Also, consider a cute sunhat which will also provide sun protection in addition to your sunscreen. Pick cute flat sandals instead of plain old rubber flip flops.
You're going to want soft and glowing skin on your vacation so exfoliating is key. Exfoliating your face and body will give you smoother and fresher looking skin. It also makes applying self tanner go much smoother and render better results. There are many ways you can exfoliate your body and face. One of the most popular exfoliation methods is to use an exfoliating scrub. There are a ton of scrubs out there, from inexpensive to pricey. Make sure to use scrubs which match your skin type. For example, use a scrub made especially for sensitive skin if you have skin which is prone to irritation. A classic inexpensive choice is St. Ives. For your body, you can choose a scrub which isn't quite as gentle.
Other ways to exfoliate include simply using a washcloth and your normal facial wash or soap or using loofahs or sisal cloths. Just be sure to keep your loofahs clean. You can do this by rinsing with cold water and then soaking in a bowl of water mixed with vinegar for two hours, then drying in a very dry place or the sun.
Tanning in the sun or in tanning beds is very dangerous. Not only can it cause skin cancer due to the harmful UV rays, but it causes your skin to age faster by causing wrinkles. A safe alternative is using a self tanner or making an appointment at a spray-tan salon.
There are some tips to keep in mind when applying self tanner. First of all, make sure to set aside enough time. You're going to need to be nearly naked for a couple of hours, so set aside time.
First, shower or bathe. While in the shower, shave and exfoliate. After you get out of the shower, evenly apply regular lotion or body cream. Choose a shade that matches your skin type. You don't want to end up brown or orange! Apply evenly, making sure to use a light touch and avoiding areas such as your toes.
If you need to lighten areas after application, apply lotion. Do this for ankles, feet and areas below the knees. Remember to use sparingly on your neck and face. Wash your hands afterward. Let air dry for 2 hours, avoiding content with clothes, etc.
Getting a great hair cut and fabulous color will make you feel like a new woman.
Main Pedi
A great manicure and pedicure will give you also give you a little confidence boost. Go with a bright, tropical-inspired color on your toes if you really want to go tropical. Neutral, nude shades for your manicure will last the longest when it comes to your hands. Avoid French manicures since they chip so easily.
What other travel tips do you have to save money on a vacation?
next article >>Although it's cooling off in many parts of the country, vacation season is in full swing, and with the end of the year near, it's a great time to take advantage of big savings on women's swimwear and plus size swimwear.
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At swimsuitsforall, we specialize in offering plus size women the best plus size swimsuits selection anywhere. Browse through our selection of plus size bathing suits and find the perfect swimsuit to fit your style and hug your curves. To finish your ensemble, we also carry a variety of stylish coverups for every style.
Browse our designer women's swimsuit brands in all types and cuts, all available for delivery straight to your front door! Forget about the crammed dressing rooms with unflattering fluorescent lighting, long checkout lines, and picked-over plus size swimsuit selection— at swimsuitsforall, you can shop for your perfect new plus size swimwear style in the comfort of your home, consult plus size swimwear specialists for an expert opinion, and receive the highest level of customer service. Plus size swimsuits can often be ill-fitting or of poor quality— but not at swimsuitsforall.com. We carry the best selection of women's size 8-16 and plus size swimwear from the most chic brands out there.
swimsuitsforall carries the highest quality, best fitting plus size swimwear and women's swimwear sized 8-16 anywhere. Whether you're looking for simple bathing suits in classic styles or the newest one piece swimsuits, swimsuitsforall has you covered. We carry a huge selection of your favorite designer swimwear brands like Longitude swimsuits, Delta Burke Swimwear, and Beach Belle. Our inventory of plus size swimsuit styles is updated on a weekly basis, so we always offer you the freshest, most flattering swimsuit styles out today.
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Because it's produced from shavings of premium chocolate rather than cocoa powder, our hot chocolate is intensely chocolaty, with a rich taste, smooth texture and exquisite aroma. For the most velvety sip, we chose couverture chocolates from Guittard that melt quickly and consistently in hot milk. The result is a world-class beverage with a smooth, mellow body, exquisite aroma and a perfectly balanced chocolate flavor. Choose from four flavors:
Hot Chocolate is a classic European-style hot chocolate inspired by the velvety hot chocolate served at the renowned Angelina café in Paris.
Peppermint is enhanced with triple-distilled natural peppermint oil for the cool, clean taste of fresh mint.
Salted Caramel adds the buttery richness of caramel with a hint of pure sea salt that highlights the delicate sweetness.


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A multitude of colours and aromatic flavours awaits your discovery.
(Breakfast and Dinner) The 180° restaurant offers a terrace with a panoramic view of the Indian Ocean. The evening ambiance is accentuated with diverse flavors from Asia to Europe, with specialist chefs creating the magic of "à la minute" cuisine in a centrally located open kitchen.
(Lunch and Dinner) Located on the beach, Shells offers an imaginative blend of local and international dishes, with a focus on seafood.
(12 noon - 6pm) Offering all day informal bites, all adjacent to the swimming pool.
(Dinner only) Authentic Indian cuisine, with gourmet presentations, and a tropical ambiance.
(Lunch and Dinner) Dine on a wonderful terrace where the waves can be heard lapping beneath. The menu serves up a new context on traditional Mediterranean recipes.
*Reservations are required for these restaurants.
The resort offers four bar areas each with its own ambience:


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Welcome to Vantage Point
LOVE, ROMANCE, BEAUTY … all captured forever in SPECTACULAR WEDDING FILMS. Discover the beauty of YOU in a Vantage Point film.
A sampling of magical moments from some of our films…
Want more real weddings? We've got enough clips to put you in a permanent state of bridal bliss. Check out Le Cinema for a plethora of stunning vignettes. To be assured our productions are superb from beginning to end, ask to see a complete feature film. Contact Us for more information.
Give us a ring to schedule a consultation; or, if you prefer, we can handle the booking process for you entirely online. Shop for pricing and to find the film that's perfect for you!
Thanks for dropping by…
We wish you happiness, success and joy in all you do; and may you live each day as if it were your wedding day!
Vantage Point
Serving all of Southern California with offices conveniently located in San Dimas and Costa Mesa


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UPDATED PRESS RELEASE FROM GRANT COUNTY: A Moses Lake man was arrested Monday morning by the Moses Lake Regional Tactical Response Team after barricading himself in an outbuilding on Lybbert Drive. Kasey Hardy, 30, of Moses Lake, came to the attention of Grant County Sheriff's Deputies Sunday night when a call was received that Hardy had made threats. Witnesses told deputies Hardy may have had homemade explosives. Hardy barricaded himself in a shed attached to a carport in the 8800 block of Lybbert Drive just west of Moses Lake. The Tactical Response Team and the Richland Police Bomb Squad were called to manage the incident. Paramedics from American Medical Response and firefighters from Grant County Fire District #5 were on hand to assist. After several hours of negotiating, Hardy still refused to come outside and surrender. TRT officers then used tear gas to force Hardy to come outside. He came out, but still refused to obey officers' commands. Officers then used less-lethal bean bag rounds to gain Hardy's compliance, and he was arrested just before 8 a.m. He was taken for a brief medical evaluation at Samaritan Hospital, and was released. Hardy is lodged in the Grant County Jail on suspicion of threatening to bomb or injure property, domestic violence; stalking, domestic violence; stalking electronically, domestic violence; and telephonic harassment, domestic violence. Bomb squad officers searched and cleared the shed. Neighboring homes were evacuated out of concern for public safety. Those evacuated were allowed to return to their homes around 8:30 a.m.
UPDATE: The standoff is over, the suspect is in custody. Officials are still on the scene investigating the area. Officials are asking that you stay away from the area until it's clear.
MOSES LAKE, Wash. - A man has barricaded himself inside of a home in the 8800 block of Lybbert Dr. in Moses Lake. Neighbors have been told to evacuate their homes. We have a KHQ crew on the way to the scene. Look for more details here on KHQ.com, Facebook and our Twitter news feed.


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Monitor your training and racing by using a quality cycle computer. Our range offers the full series of functions - including heart rate monitor and cadence. An invaluable must-have cycling accessory.
macrohigh free is our entry level O-Synce computer, with all the functions you need including altitude. Perfect for tour-bikers and athletes who prefer to ride mountains or challenging terrain, even working across two bikes.
With ANT+ compatibility, to allow it to interface with powermeters. Feature packed with the functions common across the range including 2 bike compatiblity and altitude function.
Mixfree is a basic fitness watch with simple heart rate functions. Measure the heart rate, the calorie and fat consumption.
Out of stock
Mixpro is the ultimate sportswatch. Using stable ANT technology, mixpro can be equipped with four additional sensors. Measure your running speed with the maxrun speed sensor.
Remote contolled, with ANT+ compatibility, to allow it to interface with powermeters, and 2 bike compatiblity and altitude function.
Besides regular bike functions macrofree provides a store to save up to 200 hours of workout. It is easy to readout the store by using themacropc interface and the complimentary o-synce traininglab software.
Augmented reality training visor? You bet! With your screeneye x sports visor the training is even more fun! The innovative heads-up display allows you to visualize your training data through your field of vision.
Replacement headband for the awesome Screeneye system. Use it for a fresh swap, or for another size so your buddy can wear it. Adjustable, comfortable and designed to hold the system in place so your critical information is always within view.
Small and stylish - this is the urbanfree with handy remote control and backlight! So you will always keep your speed in sight, even in the dark.
The first wireless remote control with digital ANT+ radio transmission. The ANT+remote - mountable left or on the right side of the handlebar - increases the ease of operation. O
Out of stock
Heart rate belt with sensor for ANT+ devices and O-Synce macrox, macrohigh, mixpro
Cyclometer holder for road bike handlebars for macrofree, macrohigh free, macro x, macrohigh x, navi2move
Cyclometer holder with cadence sensor for macrofree and macrohigh free
Analogue speed sensor for macrofree and macrohigh free
Cadence sensor for ANT+ devices and macrox, macrohighx, mixpro
Speed sensor for ANT + devices and macrox, macrohighx, mixpro
Combined speed and cadence sensor for ANT+ devices and macrox, macrohighx, mixpro
Running speed sensor for ANT+ devices and mixpro
USB interface for reading out all macro cyclometer.
Replaceable battery for systems
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Topic: Wage Issues
YOUR SEARCH PRODUCED 282 MATCHES. PAGE 1 of 29 Items 1-10 of 282
Search results with a darker orange shading indicate that the product is a teaching module.
Author: Theroux, John
Product Type: Cases
Source: Harvard Business School
Publication Year: 1991
Ben & Jerry's is an anti-establishment, values-driven company that has become a successful venture. The dominant founder, Ben Cohen, is not an effective manager, but he brings creative marketing and product skills that have been important to the company's success...
Authors: Everett, Donna R.; Slaughter, Kathleen E.
Product Type: Cases
Source: Richard Ivey School of Business
Publication Year: 2000
It had been almost a decade since the first article surfaced in the media alleging that factories sub-contracted by Nike in China and Indonesia were forcing workers to work long hours for low pay, and for physically and verbally abusive managers. The article was the seed of a media campaign that created a public relations nightmare for the company...
Author: Johnson, Jennifer
Product Type: Teaching Modules
Source: The Aspen Institute Center for Business Education
Publication Year: 2009
This Teaching Module addresses key issues around low-wage work in the American economy. Its purpose is to introduce the theme of low-wage work and discuss competing sides of the issues it raises for managers, as well as provide examples of solutions businesses have used to address some of the challenges raised by low-wage work.
Authors: Gendron, Alexis; Valley, Kathleen
Product Type: Cases
Source: Harvard Business School Publishing
Publication Year: 2000
In January 1994, Igor and Ludmilla Ivanovic opened the doors of their bakery, Iggy's Bread of the World. This case describes their unusual mission statement and the way in which they try to bring a social consciousness mentality to a for-profit business...
Authors: Bollier, David; Pochop, Laura; Meyer, Kathleen A.
Product Type: Cases
Source: The Business Enterprise Trust
Publication Year: 1997
In the early 1990s, Donna Klein, Director of Work/Life programs for Marriott International, surveyed hotel and resort managers and found they increasingly were relied upon to help employees cope with the stresses of their personal lives. Immigration, child custody, spousal abuse--numerous personal issues were requiring up to 50% of managers' time and fueling extremely high turnover among the company's over 100,000 lower-wage workers...
Author: Hemphill, Thomas A.
Product Type: Cases
Source: Business Horizons
Publication Year: 2005
Wal-Mart, the world's largest retailer, was named by Fortune as the "most admired company in America" for the years 2003 and 2004. However, these and other accolades have not quieted a chorus of critics...
Authors: Bankert, Ellen; Lee, Mary D.; Lange, Candice
Product Type: Cases
Source: Wharton Work/Life Integration Project
Publication Year: 2002
SAS Institute is the world's largest privately held software company, with sales in 1998 of $870 million - double its revenue only six years earlier ... The compelling case story behind SAS Institute is not tied to a specific change initiative or the company's many perks, but is about the work environment created at the company's outset and sustained over time. The case focuses on capturing the essential elements that define the SAS Institute culture...
Author: Furman, Jason
Product Type: Research Notes / Working Papers
Source: The Center for American Progress
Publication Year: 2005
This article reviews the economic evidence on the impact of Wal-Mart on consumers, the impact of Wal-Mart on its workers and workers in the retail sector, and the impact of public subsidies on Wal-Mart...
Author: von der Porten, Suzanne
Product Type: Cases
Source: Selkirk College
Publication Year: 2005
The debate among retailers, local residents, the city council and Wal-Mart captures some of the tumult around the role of multinational corporations in the global economy and their effects on societies and the environment. In the context of this controversy, what responsibility does Wal-Mart have to its employees, overseas product manufacturers, factory workers, indigenous people, and local residents? Who are other stakeholders in Vancouver City Council's decision on whether to allow the rezoning? Who are stakeholders with no say in the decision? Does the Vancouver council have any business preventing Wal-Mart from setting up a business in Vancouver? What lessons can be learned?
Author: Bartlett, Christopher A.
Product Type: Cases
Source: Harvard Business School
Publication Year: 2000
This case describes Microsoft's human resource philosophies and policies and illustrates how they work in practice to provide the company with a major source of competitive advantage. Discusses employee development, motivation, and retention efforts in one of Microsoft's product groups.
YOUR SEARCH PRODUCED 282 MATCHES. PAGE 1 of 29 Items 1-10 of 282


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