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2005 annual report. Document de référence
- Reynard Smith
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1 2005 annual report Document de référence
2 contents AXA Group History and development 4 Simplified organization chart 6 AXA stock price 8 Financial highlights Financial highlights 12 Ratings 16 Legal information Corporate Governance 20 Internal control procedures 40 Full disclosure on executive and employees compensation and share in capital 55 Principal statutory information concerning the Company 76 Information concerning the share capital of the Company 78 Other legal information 88 Financial information Description of business 99 Investment Strategy and Capital Resources 125 Risk factors 133 Activity Report 157 Consolidated Financial Statements 231 Other Supplementary Financial Information 395 Parent Company 400 Embedded value 413 Salaried employees 418 Significant event known sebsenquently at the year end closing 419 Person responsible and the independent auditors Person responsible for the Annual Report 422 Independent auditors 423 Correspondence table million client across the globe trust in AXA. 110,000 employees and distributors mobilized around the world. 72 billion euros in consolidated revenues. +5.2% on a comparable basis.
3 Be Life Confident All around the world, we deliver our products and services under a global brand. Combined with our tagline Be Life Confident the AXA brand conveys our promise to customers: we will protect them and help them realize their projects at every stage of their lives. 15,000 employees volunteer in their local community. 3.3 billion euros in underlying earnings +24% at a constant exchange rate. 1,064 billion euros in assets under management. 4.2 billion euros in net income, Group share. +22% +12% at a constant exchange rate.
4 AXA Group History and development / p. 4 AXA stock price / p. 8
5 Simplified organization chart / p. 6
6 AXA Group History and development AXA 1 originated from several French regional mutual insurance companies, known collectively as les Mutuelles Unies. In 1982, les Mutuelles Unies took control of Groupe Drouot and following this transaction the new Group began operating under the name of AXA. In 1986, AXA acquired Groupe Présence. In 1988, AXA transferred its insurance businesses to Compagnie du Midi and operated under the name of AXA Midi, which subsequently reverted back to the AXA name. Two years later, the French insurance operations were reorganized to operate by distribution channel. In 1992, AXA took control of Equitable Companies Incorporated following the demutualization of Equitable Life. The Equitable Companies Incorporated changed its name in 1999 to AXA Financial, Inc. ( AXA Financial ). In 1995, AXA acquired a majority ownership interest in National Mutual Holdings following its demutualization. National Mutual Holdings changed its name to AXA Asia Pacific Holdings Ltd. In 1997, AXA merged with Compagnie UAP. This transaction enabled AXA to significantly increase its size and reinforce its strategic positions, especially in Europe. In 1998, AXA purchased the minority interests of AXA Royale Belge and, in 1999, acquired Guardian Royal Exchange in Great Britain through its subsidiary Sun Life & Provincial Holdings ( SLPH ). The Guardian Royal Exchange acquisition allowed AXA to further establish its positions in both the United Kingdom and Germany. In 1999, after getting an insurance licence from Chinese authorities, the Life joint-venture between AXA and Minmetals was launched in Shanghai. In 2000, AXA acquired a majority ownership interest in Nippon Dantaï Life Insurance Company, resulting in a new company called AXA Nichidan (which became in 2001 AXA Life Insurance Co. ). In addition, in July 2000, AXA increased its interest in SLPH from 56.3% to 100%. In August 2000, AXA sold its interest in Donaldson Lufkin & Jenrette to Credit Suisse Group. In October 2000, Alliance Capital, a subsidiary of AXA Financial, acquired the U.S. asset management company Sanford C. Bernstein. In December 2000, AXA acquired the remaining minority interests in AXA Financial, which is now a 100% owned subsidiary of AXA. In , AXA acquired two financial advisory networks in Australia, Sterling Grace and Ipac Securities, as well as a banking platform in France, Banque Directe. AXA also continued to streamline its portfolio of businesses, selling its health business in Australia and insurance operations in Austria and Hungary, and reorganizing its reinsurance business. In 2002, the Group sold its bank and insurance businesses in Chile. In 2003, AXA sold all its activities in Argentina and Brazil. In September 2003, the Group announced the acquisition of the American group Mony. This operation was subject to the approval of the shareholders of Mony and to the obtaining of various lawful authorizations. In 2004, AXA purchased the American group Mony; this operation allowed AXA to reinforce for a total amount of approximately 25% the capacity of distribution of AXA (1) In this annual report: the Company refers to the holding company AXA, organized under the laws of France, AXA refers to the Company and its direct and indirect subsidiaries. 4
7 Life activities in the United States. In addition, AXA sold its insurance activities in Uruguay (AXA Seguros Uruguay) thereby finalizing its disengagement from South America; it also disposed of its broking activities (Unirobe) and its activity of health insurance in the Netherlands, and finally its activity of loan on real property in Germany (AXA Bausparkasse AG). In December 2005, AXA and FINAXA shareholders meetings voted in favour of the merger of FINAXA into AXA. FINAXA was a holding company listed on the Paris Stock Exchange and its main subsidiary was AXA. It also owned the AXA brand. This merger resulted in a simplification of AXA s shareholder structure and in an increase in the proportion of publicly traded shares. In addition, AXA obtained ownership of the AXA brand. 5
8 AXA Group Simplified organization chart Main subsidiaries as at December 31, 2005 AXA s companies contacts are available on the web site: America UNITED STATES Insurance AXA Financial Inc. (a) 100% 100% MONY Holdings LLC (b) 100% 100% CANADA Insurance AXA Canada Inc. (c) 100% 100% Africa MOROCCO Insurance AXA-ONA (d) 51% 51% Europe GERMANY Insurance AXA Konzern AG (e) 92% 93% Financial Services AXA Bank AG 92% 100% BELGIUM Insurance AXA Holdings Belgium (f) 100% 100% Financial Services AXA Bank Belgium 100% 100% SPAIN Insurance AXA Aurora S.A. (g) 100% 100% Hilo Direct S.A. de 100% 100% Seguros y Reaseguros 6 (a) Holding Company that owns AXA Equitable Life Insurance Company. (b) Holding Company that owns MONY Life Insurance Company and MONY Life Insurance Company of America. (c) Holding Company that owns AXA Assurances Inc. and AXA Insurance (Canada). (d) Holding Company that owns AXA Assurance Maroc. (e) Holding Company that owns AXA Versicherung AG, AXA Lebenversicherung AG and AXA ART Versicherung AG. (f) Holding Company that owns AXA Belgium. (g) Holding Company that owns AXA Aurora Iberica, S.A., de Seguros y Reaseguros and AXA Aurora Vida, S.A. de Seguros y Reaseguros and Seguro Directo (Portugal R.C). (h) Holding Company that owns AXA France Vie, AXA France IARD, AVANSSUR and AXA Corporate Solutions Assurance
9 Main subsidiaries as at December 31, 2005 International Insurance AXA RE 100% 100% AXA Assistance SA 100% 100% Asset Management AXA Investment Managers 95% 100% AXA Real Estate Investment Managers 95% 100% Alliance Capital Management L.P. 61% 61% AXA Rosenberg 76% 100% Areas in dark green represent countries in which AXA offers at least one of its protection services. FRANCE Insurance AXA France 100% 100% Assurance (h) Financial Services Compagnie 100% 100% Financière de Paris AXA Banque 100% 100% IRELAND Insurance AXA Insurance 100% 100% Limited ITALY Insurance AXA Italia S.p.A (i) 100% 100% LUXEMBOURG Insurance AXA Luxembourg SA (j) 100% 100% THE NETHERLANDS Insurance AXA Nederland B.V. (k) 100% 100% PORTUGAL Insurance AXA Portugal Companhia 99% 100% de Seguros SA AXA Portugal Companhia 95% 95% de Seguros de Vida SA Vie UNITED KINGDOM Insurance AXA UK Plc (l) 100% 100% SWITZERLAND Insurance AXA Assurances 100% 100% TURKEY Insurance AXA Oyak Holding A.S. (m) 50% 50% Asia-Pacific AUSTRALIA/NEW ZEALAND Insurance AXA Asia Pacific 53% 100% Holdings Limited (n) HONG KONG Insurance AXA China Region Limited 53% 100% JAPAN Insurance AXA Japan 98% 100% Holding Co. Ltd (o) SINGAPORE Insurance AXA Financial Services Pte 53% 100% Ltd Singapore Holding Cy (p) Ownership interest percentage % Voting right percentage % (i) Holding Company that owns AXA Assicurazioni S.p.A. (j) Holding Company that owns AXA Assurance Luxembourg and AXA Assurance Vie Luxembourg. (k) Holding Company that owns AXA Leven N.V. and AXA Schade N.V. (l) Holding Company that owns AXA Sun Life Plc, AXA Insurance Plc and AXA PPP Healthcare Limited. (m) Holding Company that owns AXA Oyak Hayat Sigorta A.S. and AXA Oyak Sigorta A.S. (n) Holding Company that owns AXA Australia New Zealand. (o) Holding d Company that owns AXA Life Insurance Co., Ltd and AXA non-life Insurance Co. Ltd. (p) Holding Company that owns AXA Life Insurance Singapore Pte Ltd. 7
10 AXA Group AXA stock price AXA stock is listed on the Eurolist by Euronext, Euroclear France code: and, since June 25 th 1996, on the New York stock exchange under American Depositary Shares (ADS) representing one AXA stock. AXA and AXA ADS stocks transactions since 20 months (Paris and New York) PARIS BOURSE Volume Price per Share in euros (in thousand) High Low 2004 July 150, August 149, September 157, October 223, November 182, December 151, January 155, February 152, March 182, April 213, May 156, June 161, July 164, August 139, September 140, October 172, November 186, December 152, January 199, February 128,
11 Shares created since January 1 st 2006 by exercise of convertible bonds or subscription options are listed au comptant on the Eurolist until they are assimilated after the payment of the 2005 dividend planned on May 12, NEW YORK STOCK EXCHANGE Volume Price per ADS in US$ (in thousand) High Low 2004 July 4, August 5, September 4, October 5, November 6, December 6, January 6, February 6, March 8, April 7, May 5, June 5, July 5, August 7, September 6, October 6, November 7, December 6, January 10, February 6,
12 Financial high Financial highlights / p. 12
13 lights Ratings / p. 16
14 Financial highlights Activity indicators Gross revenues by business segment Other Financial Services 1% Asset Management 5% International Insurance 5% Total: 71.7 billion in 2005 Property & Casualty 27% + 5.2% in 2005* Life & Savings 63% Gross revenues by geographic region (insurance only) Other Asia-Pacific 3% International Insurance 6% North America 22% Other 3% Southern Europe 7% Total: 67.8 billion in 2005 France 27% Japan 7% Belgium 6% + 4.8% in 2005* United Kingdom 10% Germany 9% Life APE (a) by geographic region Hong Kong 1% Australia/New Zealand 8% France 20% + 11% in 2005* Property & Casualty gross written premiums by geographic region Other 7% Canada 5% France 27 % + 2.8% in 2005* Japan 11% United Kingdom 15% Southern Europe 16% United States 31% Total: 5.5 billion in 2005 Southern Europe 3% Germany 5% Belgium 7% Belgium 8% Total: 18.9 billion in 2005 Germany 15% United Kingdom and Ireland 23% Assets under management Assets under management by company AllianceBernstein 46% Assets under management by category Own account 33% Life Insurance Separate Accounts 13% Others AXA companies 13% Axa Investment Managers 41% + 22% in 2005 Total: billion in 2005 Third party 53% * On a comparable basis. (a) Annual premiums equivalent (APE) is New regular premiums plus one tenth of single premiums, in line with Group EEV methodology. 12
15 Profitability indicators Underlying earnings (a) (in euro millions) 3,258 2,723 2,637 2, % in 2005 (b) Underlying earnings by geographic region (in euro millions) IFRS ,563 IFRS , FGAAP IFRS ,102 Life & Savings Property & Casualty International Insurance Asset management Other financial services Holdings ,346 Adjusted earnings (a) (in euro millions) 1,450 2,035 Underlyings earnings (a) Net capital gains attributable to shareholders net of income tax 4, % 3,342 in 2005 (b) 3,258 2,901 2,723 2, Net income Group Share (in euro millions) IFRS FGAAP Adjusted earnings (a) 4,108 3,342 2,901 1,450 Profit or loss (excluding change) on financial assets (under FV option) & derivatives Exceptional operations (including discontinued operations) (72) Goodwill and other related intangibles impacts (13) (41) (649) (593) Net income Group Share 4,173 3,738 2,519 1,005 FGAAP IFRS Combined ratio (Property & Casualty) (in %) FGAAP IFRS point in 2005 (a) Underlying earnings correspond to adjusted earnings excluding net realized capital gains attributable to shareholders. Net realized gains or losses attributable to shareholders include: i) realized gains and losses (on assets not designated under fair value option or trading assets) ii)change in impairment valuation allowance, iii) foreign exchange rates impacts (including derivatives and except the ones mentioned above) net of tax, related impact on policyholder participation net of tax (Life business), DAC and VBI amortization or other reactivity to those elements if any (Life business). Adjusted earnings represent the net income (group share) before: (i) The impact of exceptional operations (primarily change in scope, including restructuring costs related to a newly acquired company during the considered accounting period). (ii) Goodwill and other related intangible impacts, and (iii) Profit and loss on financial assets accounted for under fair value option (excluding assets backing contract liabilities for which the financial risk is borne by the policyholder) and derivatives related to invested assets (excluding (i) all impacts of foreign exchange except the ones related to currency options in earnings hedging strategies and (ii) those related to insurance contracts evaluated according to the selective unlocking accounting policy). (b) On a constant exchange rate. 13
16 Financial highlights Profitability indicators Adjusted Earnings per share (a) fully diluted (in euro) Dividend per share (in euro) Pay Out Ratio (c) (in %) 47% 40% 40% % % FGAAP IFRS 2003 (b) FGAAP IFRS Life New Business Value (d) (in euro millions) , % in 2005* Life Embedded Value (d) (in euro millions) % (f) in 2005 EV EEV EV EEV Consolidated balance sheet indicators Gearing ratio (e) (in %) FGAAP IFRS points in 2005 Shareholders equity 100% Consolidated Shareholders Shareholders equity Group equity (100% and Group share) (in euro billions) Shareholders equity 100% Shareholders equity Group Share 23.4 FGAAP IFRS FGAAP IFRS Millions of shares 1,778 1,908 1,908 1,872 Adjusted ROE (a) 6.3% 12.4% 18.1% 18.4% Underlying ROE (a) 8.9% 11.6% 14.2% 14.6% (a) Please refer to page 13. (b) Following any significant capital increase with a stock price lower than the market price, such as ORAN conversion in July 2004, average number of shares and consequently earning per share over each period can be restated to take into account this event. (c) Dividende net / Adjusted earnings. (d) In 2005, AXA published Life Embedded Value and the New Business Value for 2004, restated according to the principles of European FGAAP Embedded IFRS Value (EEV). The methodology applied for the calculation of the EEV is based on an approach bottom up market consist for a better apprehension of the evaluation of the risk. Please 2003 refer to page for further details. (e) Since 2004, gearing ratio excludes cash surplus at Group Level. (f) Represents EEV Return. * On a comparable basis. 14
17 Consolidated balance sheet indicators Consolidated shareholders equity (Group share) per share (in euro) Net asset value (per share) (in euro) FGAAP IFRS FGAAP IFRS Salaried employees Others Salaried employees (h) (Full Time Equivalent) 74,584 76,339 78,800 Stock capitalization as at the end of December (i) (in euro billions) (h) Personnel of non-consolidated companies accounted for using the equity method are not included in the above graph. Personnel of companies proportionally consolidated are included, pro-rata, in accordance with the percentage of consolidation. Please refer to page 418 for further details. (i) Number of ordinary share outstanding * Share price as at December
18 Financial highlights Ratings Insurer Financial Strength Ratings The Company s principal insurance subsidiaries Ratings of the Company s Long Term and Short Term Debt Senior Debt Long Term Subordinated Debt Short Term Debt Agency Standard & Poor s Moody s Fitch Ratings Standard & Poor s Moody s Fitch Ratings Standard & Poor s Moody s Fitch Ratings Standard & Poor s Moody s Fitch Ratings 16
19 Date Rating Outlook 4/10/05 AA- Positive 14/02/05 Aa3 Stable 16/12/05 AA Stable 4/10/05 A 14/02/05 A2 16/12/05 A+ 4/10/05 BBB+ 14/02/05 A3 16/12/05 A 4/10/05 A-1 14/02/05 P-1 16/12/05 F-1 17
20 Legal informa Corporate Governance / p. 20 Full disclosure on executive and employees compensation and share in capital / p. 55 Information concerning the share capital of the Company / p. 78
21 tion Internal control procedures / p. 40 Principal statutory information concerning the Company / p. 76 Other legal information / p. 88
22 Legal information Corporate Governance Implementing sound corporate governance principles has been a priority at AXA for many years. Because its stock is publicly traded on the New York Stock Exchange, AXA is subject to the Sarbanes- Oxley Act, which was adopted in the United States in Accordingly, AXA has made various adjustments necessary to bring the Company into compliance with the Act. AXA has also reviewed its rules of corporate governance in light of the recommendations contained in the Bouton Report and the relevant sections of the French Financial Security Act (Loi de Sécurité Financière) of August 1 st, Governance Structure: Management Board and Supervisory Board A Management Board and a Supervisory Board have governed AXA since This form of corporate governance, which separates the powers of management from those of supervision, is considered to offer one of the most balanced frameworks for exercising corporate power. An Executive Committee assists the Management Board in the performance of its duties. In addition, the Supervisory Board has established four specialpurpose Committees. Supervisory Board The developments below on the Supervisory Board and Supervisory Board Committees correspond to the first part of the Supervisory Board Chairman s Report on the conditions under which the Board s work is prepared and organized, which was prepared in accordance with the French Financial Security Act of August 1 st, The second part, which concerns internal control procedures, follows this section on Corporate Governance. Role and powers The Supervisory Board oversees the management of the Company and is accountable to the shareholders. The Supervisory Board appoints and dismisses the Chairman and members of the Management Board and supervises executive management of the Company. Article 12 of the Company s bylaws, and the Supervisory Board s own internal regulations, specify that, in light of its enhanced supervisory power with respect to matters of particular concern to the shareholders, the following transactions or issues require the prior consent of the Supervisory Board: the issuance of securities with a direct or indirect claim on the equity capital of the Company; proposed stock repurchase programs submitted to a vote of the shareholders assembled in an ordinary meeting; financing operations that may have a material impact on the Company s financial position; any contemplated business acquisition; agreements to form strategic partnerships; the setting up of any stock option plans or the granting of any free allotments of shares for employees of the Company, as well as for employees and officers of related parties, as well as the granting of stock options or free allotments of shares to members of the Management Board of the Company; proposals to amend the Company s bylaws submitted to a vote of the shareholders in an extraordinary meeting; appropriations of earnings and dividends for the previous year proposed to shareholders in an ordinary meeting; interim and final dividend payment dates. 20
23 Operating procedures and activity The guidelines governing the operation, organization and compensation of the Supervisory Board and its committees are contained in its internal regulations. The Supervisory Board meets at least five times a year. In 2005, the Supervisory Board met 7 times, of which one meeting was an entire day devoted to examination of the Group strategy, and the overall attendance rate was 88%. Its members receive documentation concerning matters to be reviewed prior to each meeting, generally eight days in advance. This documentation always includes information on: the Group s operations, as presented in the Management Board s quarterly report, a press review and a stock price performance report; reports on committee meetings that have been held since the last Supervisory Board meeting. In addition to the agenda, this documentation may also include information on issues pertaining to the Group s operations (e.g. a presentation on a particular operating Company s strategy and priorities) or a presentation on a particular subject (e.g. the brand, a transversal project...). Accordingly, the Group s principal managers may be invited to take part in Board meetings from time to time to present their business area, their objectives and their results. Training courses and special meetings are organized for members of the Supervisory Board as needed. Certain members of the Supervisory Board have requested and received training in the Group s various business areas and have attended presentations on specific Group companies. To ensure that their interests and those of the Group are aligned, members of the Supervisory Board are required to own shares in the Company, the value of which must be at least equal to the amount of directors fees they receive in the course of any given year. Composition On December 31, 2005, the Supervisory Board had 13 members, elected by the shareholders. Currently, 4 members of the Supervisory Board are not French nationals. At the Company s Annual General Meeting on April 20, 2005, the shareholders re-elected for four years Anthony Hamilton, Henri Lachmann and Michel Pébereau. The shareholders also: ratified the Supervisory Board s decision to appoint Léo Apotheker to fill the vacancy left by the death of Alfred von Oppenheim, for the remainder of the late Mr. von Oppenheim s term (i.e. until April 2007); elected Jacques de Chateauvieux for a term of four years, replacing Jacques Calvet, whose term had expired at the close of this meeting; elected Ms. Dominique Reiniche for a term of four years, replacing Bruno Roger, whose term had expired at the close of this meeting. Supervisory Board members are selected on the basis of their acknowledged competence and experience, as well as their ability to work together and become actively involved in the supervision of a company like AXA. The Board makes a special effort to assess the independence of each Supervisory Board member with respect to the Management Board, and the Company. Acting on the recommendation of its Selection, Governance and Human Resources Committee, the Supervisory Board has assessed the independence of all of its members on the basis of the recommendations contained in the Bouton Report on corporate governance in publicly traded companies and, for the members of the Audit Committee, on the basis of the criteria set forth in the Sarbanes-Oxley Act. 21
24 Legal information On December 31, 2005, 9 of the 13 Supervisory Board members met the independence criteria based on the recommendations of the Bouton Report: Dominique Reiniche, Léo Apotheker Jacques de Chateauvieux, David Dautresme, Anthony Hamilton, Henri Hottinguer, Henri Lachmann, Gérard Mestrallet and Ezra Suleiman. The Supervisory Board has taken the required measures to ensure that, by July 31 st, 2005, all of the members of the Audit Committee would meet the independence criteria set forth in the Sarbanes-Oxley Act. Composition of the Supervisory Board on December 31, 2005 Name Office presently held Principal occupation or employment Principal First (and age) (as of December 31, 2005) business appointment / address term of office Claude Bébéar Chairman of Director or member of the Supervisory Board AXA June 1988 / (70) the Supervisory Board of AXA Financial (United States), BNP Paribas, Vivendi Universal 5, avenue Matignon 2 May 2008 and Mutuelles AXA; Non-voting member of the board Paris of Schneider Electric Jean-René Fourtou Vice-Chairman of Chairman of the Supervisory Board of Vivendi Universal Vivendi Universal April 1990 / (66) the Supervisory Board and Groupe Canal+; Director of member of the Supervisory Board 42, avenue de Friedland April 2007 of Sanofi-Aventis, Cap Gemini, AXA Millésimes, Paris Maroc Telecom (Morocco) and NCB Universal Inc (United States) Léo Apotheker Member of President Customer Solutions & Operations, Member of SAP February 2005 / (52) (1) (3) the Supervisory Board the Executive Committee of SAP AG; Director of SAP America, Inc. 141, bd Haussmann April 2007 (United States); SAP Global Marketing Inc. (United States); Paris SAP Asia Pte. Ltd. (Singapore); SAP JAPAN Co., Ltd. (Japan); SAP FRANCE S.A.; S.A.P. ITALIA Sistemi, applicazioni, prodotti in data processing s.p.a., (Italy); SAP Hellas Systems Application and Data Processing S.A. (Greece); SAP (Beijing) Software System Co., Ltd., (China) and Ginger S.A. David Dautresme Member of Senior Advisor, Lazard Frères; Managing Partner of DD Finance; Lazard Frères April 1990 / (72) (1) the Supervisory Board Chairman of the Supervisory Board of Club Méditerranée; 121, bd Haussmann April 2007 Director or member of the Supervisory Board of Casino and Fimalac; Paris Non-voting member of the Board of Eurazeo Jacques de Member of Président-Directeur Général de BOURBON, Président du Conseil BOURBON April 2005 / Chateauvieux the Supervisory Board d Administration de SAPMER S.A., Cbo Territoria, JACCAR SAS ; 33, rue du Louvre April 2009 (55) (1) (4) Administrateur de Vindemia SAS, Happy World Foods, Ltd Paris Anthony Hamilton Member of Non-executive Chairman of AXA UK Plc (United Kingdom) and AXA UK PLC January 1996 / (64) (1) (2) the Supervisory Board AXA Equity and Law (United Kingdom); Director or member of 5 Old Broad Street April 2009 the Supervisory Board of AXA Financial (United States); London EC2N 1AD Pinault-Printemps-Redoute, Swiss Re Capital Markets Limited UK (United Kingdom), Binley Limited (United Kingdom) and Tawa UK Limited (United Kingdom). (1) Independent. (2) Reappointed by the shareholders on April 20, (3) Co-opted by the AXA Supervisory Board on February 23, 2005; ratified by the shareholders on April 20, (4) Appointed by the shareholders on April 20,
25 Name Office presently held Principal occupation or employment Principal First (and age) (as of December 31, 2005) business appointment / address term of office Henri Hottinguer Member of Chairman and CEO of Sofibus; Chairman of the Supervisory Board Financière Hottinguer June 1988 / (71) (1) the Supervisory Board of Emba NV (The Netherlands); Chairman of the Board of 43, rue Taitbout April 2007 Directors of Hottinger Bank & Trust Limited (Nassau, Bahamas); Paris Chairman of Mofipar (SAS) and Hottinger & Co. Bale (Switzerland), Vice-Chairman of Gaspee (Switzerland); Senior Chief Officer and Director of Financière Hottinguer Chief Officer of the Board of Director of Hottinger Finanz & Treuhand (Switzerland); Director of AXA France IARD, AXA France Vie, Intercom, Hottinger International Fund (Luxembourg) and Hottinger International Asset Management (Luxembourg); Non-voting member of the board of Didot Bottin Henri Lachmann Member of Chairman and CEO of Schneider Electric; Chairman of the Board Schneider Electric May 1996 / (67) (1) (2) the Supervisory Board of Directors of Centre Chirurgical Marie Lannelongue; Director or 43-45, bd Franklin April 2009 member of the Supervisory Board of AXA Assurances Vie Mutuelle, Roosevelt AXA Assurances IARD Mutuelle, AXA Courtage Assurance Mutuelle, Rueil Malmaison AXA-ONA (Morocco), Vivendi Universal, Groupe Norbert Dentressangle and ANSA; Non-voting member of the Board of Fimalac Gérard Mestrallet Member of Chairman and CEO of Suez; Chairman of Suez Environnement, Suez January 1997 / (57) (1) the Supervisory Board Suez-Tractebel (Belgium) and Electrabel (Belgium); 16, rue de la Ville l Evêque April 2007 Vice-Chairman of Sociedad General de Aguas de Barcelona (Spain) Paris and Hisusa (Spain); Director of Compagnie de Saint-Gobain and Pargesa Holding S.A (Switzerland) Michel Pébereau Member of Chairman of the Board of Directors of BNP Paribas; Director or BNP Paribas January 1997 / (64) (2) the Supervisory Board member of the Supervisory Board of Saint Gobain, Total, Lafarge, 3, rue d Antin April 2009 BNP Paribas UK (United Kingdom) and Banque Marocaine Paris pour le Commerce et l Industrie (BMCI); Non-voting member of the board of Galeries Lafayette Mme Dominique Member of Chairman Europe of The Coca-Cola Company; Coca-Cola Entreprises, April 2005 / Reiniche the Supervisory Board Director of Essilor; Member of the Advisory Board of ING Direct Groupe Europe April 2009 (50) (1) (4) and of the Executive Committee of the MEDEF 27, rue Camille Desmoulins Issy-les-Moulineaux Cedex 9 Ezra Suleiman Member of Professor of Politics and Chair of the Committee for European EPS/PIIRS April 2003 / (64) (1) the Supervisory Board Studies, Princeton University (United States); Aaron Burr Hall April 2007 Associate Professor, Institut d Etudes Politiques (Paris); Princeton University Member of the Management Committee of Institut Montaigne, Princeton, N.J Centre Américain, Institut d Etudes Politiques (Paris); USA Member of the Editorial Committee of Comparative Politics, La Revue des Deux Mondes and Politique Internationale. Jacques Tabourot Member of AXA April 2004 / (60) the Supervisory Board, 25, avenue Matignon April 2008 representing the Paris employee-shareholders (1) Independent. (2) Reappointed by the shareholders on April 20, (3) Co-opted by the AXA Supervisory Board on February 23, 2005; ratified by the shareholders on April 20, (4) Appointed by the shareholders on April 20, In addition, Norbert Dentressangle (51) is expected to be elected for a 4-year term at the Annual General Meeting of May 4, His mandates include Chairman and CEO of Financière Norbert Dentressangle, Chairman of the Supervisory Board of Groupe Norbert Dentressangle and FINAIXAM, CEO of SOFADE (SAS), as well as director or member of the Supervisory Board of SEB, Sogebail and Emin-Leydier (SAS). After this appointment, the number of Independent member within AXA s Supervisory Board would be 10 out of 14 since Norbert Dentressangle is himself an independent member. 23
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text:
This afternoon I found myself with nothing on the agenda so it was time to head into the craft room and this is what I came up with:
I know I used Ella on the last card I posted, but she is just so cute I had to use her again (and I realized that I used the same papers as last time ~ guess I really do love them). I made the lace flower and when going through my charms to add behind the button came across some pearls that were from a vintage necklace and they already had a loop on them, so I decided to add that to the chain as well. I added some stickles to her necklace and parts of her dress and then added some pearls to tie in the dangling one.
I used the sketch from Claudia & Company
I also have another card using this sketch and hope to add that sometime tomorrow.
I am also entering this card in the following challenges:
Wild Orchid - "Make It Sparkle"
Die Cuts R Us - "Anything Goes"
Your Next Stamp - "Anything Goes"
The Crafty Pad - "Simply Pearls"
Simon Says - "Lace and Pearls"
Oh Alice - "Shine or Sparkle" (although I was originally going to enter this in the Girl Theme challenge I was a bit late, but since this does qualify for this weeks new challenge I'm keeping it on here)
Crafty Cardmakers - "Glitter and Sparkle"
Fab N' Funky - "Use Material" (lace included)
Cute Card Thursday - "Use Material" (lace included)
Copic Creations - "Pleats or folds on Clothes"
Aly's Sunday Challenge - "Use pink in your creation"
Cowgirl's - "Make your own Flower"
One Stitch at a Time - "Girly"
Stamptacular - "Pretty in Pink"
Pollycraft - "Add a little nature" - flower paper, lace flower and flower charm
The Shabby Tea Room - "Old Meets New" - old~lace new~stamp
Papertake - "Just the One" - use one of something ~ one charm, one lace, one image, one button
ABC Challenge - C is for Charms
All That Scraps - "Lace"
Penny's - Birthday
The Creative Cottage - "Celebrations"
Digi Doodles - "Write Me a Message" - use a sentiment
Stamp Insanity - "Birthday"
Stamp Something - "Something Cute"
Stamp and Create - "Flowers"
Our Daily Bread -"Forgotten embellishments" - buttons, brads or eyelets
Craft Your Days Away - "Girly and Glitter"
Recipe ~ all items SU unless indicated
Stamps: Puddle Jumper Ella Mini Set & So Random Sentiments (Claudia & Co)
Ink/Coloring: Memento Tuxedo Black; Rose Red; Copics (E00, E01, E11, E35, E37, R81, R83, R85)
Paper: Rose Romance; Gina K Pure Luxury White; DP - My Minds Eye (Quite Contrary)
Embellishments: Pink Gingham Ribbon; Lace; Button; Pearl; Charm; Silver Chain; Pearls (Kaiser); Stickles (Star Dust)
Tools/Other: Dimensionals

subset: commoncrawl


text:
So What Is the Intervestor
Have you tried out your hand at flipping real estate?
What I mean is for example to buy a house for a certain amount, remodelled it and then sold it for a much higher cost pocketing a good amount of profit in the process?
Well think of the same concept and apply it to websites or "digital real estate" as people are calling it these days.
So you buy websites that have value for a real cheap price and then sell them on sites like flippa for a good profit.
Clear Your Cookies. If you don't know how to do this please find out here..
Buy Using This Link Only
Forward Your Receipt of purchase to:
I will confirm your order and have your account setup and your licenses enabled within 24 hours.
So grab your copy Now and Get your Bonus
Though this is simple in theory, if not done right you'll end up burning your fingers.
Most folk dont know how to buy valuable sites cheap, nor are they great at webdesign.
This is where the intervestor course comes in. These guys will teach you how to find those hidden gems and "refurbish" them so you can sell them at a higher markup


text:
A site older than Angkor lost in tranquil forests, Sambor Prei Kuk is even more mysterious (and to some, lovely) than the more famous temples to the west. In a cool and peacefully leafy setting, beautiful 1,200-year-old brick temples combine with nature to create an environment that showcases the best of both worlds.
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The complex encompasses three sites, with northern, central and southern enclosures.
Most of the temples are made of warm red brick, with sandstone elements in, for example, the ornately carved lintels. It was customary for ancient Khmer elites to associate themselves with the Hindu Brahmanical Gods: Brahma (the creator), Vishnu (the preserver) and Shiva (the destroyer), though mostly with Shiva. The shape of the temple towers indicates which God they have been dedicated to, with squares representing Brahma and octagons Vishnu. Within the temple structures, the linga representing Shiva are protected.
Aside from centuries of neglect during which the temples became so overrun that early French explorers could stand within 150 metres of them without being able to discern their presence, the temples also suffered from American bombing during the Vietnam War. More than 100 temples or sanctuaries still stand on this site, but there were once many, many more. You can still see the craters left behind by the bombs, and the area is known to be sown with ordinance and landmines. Don't ever stray from the path here.
It is likely that his predecessors, Bhavavarman I and Mahendravarman, also made their capitals here, and some of the temples in the northern group date from the time of Bhavavarman I's reign, between 550 and 590.
Bhavavarman I is the man who moved his armies south from Wat Phu in Laos and united the disparate (and highly prone to squabbling) kingdoms of the region, formerly part of Funan Kingdom. Meanwhile, his successor, Mahendravarman, is credited with creating peace with Champa to the east. It's not known exactly why Bhavavarman made his move south — some suggest he felt he had a claim to the throne of the Funan Kingdom after the legitimate heir was killed.
Sambor Prei Kuk represents one of the first urban capitals to be established in all of Southeast Asia, making Kampong Thom the centre of power for the Chenla Kingdom, or perhaps of a smaller state within the Chenla Kingdom — it is still not known which is the case — belying its rather sleepy appearance today.
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How to get there
A tuk tuk will take you to Sambor Prei Kuk for about $20, while a moto should set you back about $15, and a taxi $40 for a return trip.
If you're running under your own power, the normal route is along Route 6 before heading up Route 64, and then taking a right about 15 kilometres up. Follow the signs.
There is, however, a stunning off-road route that takes you through the village of Cheay Sampou that your driver may know. If he does, it's worth taking the trip this way. The sandy, laterite roads are in good condition, especially for a car or motorbike, and the scenery is stunning.
Location map for Sambor Prei Kuk
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text:
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From the day their eyes open and they tumble out of the den, Tiger - Spy in the Jungle captures the day-to-day lives of four tiny tiger cubs as they grow up alongside their devoted mother in the very heart of India. The tiger is not only the world's favourite wild animal but also one of the rarest, and as David Attenborough says, "This is the most intimate portrait of tigers ever seen."
To enter the world of this tiger family, John Downer and his wizard team, cameraman Michael Richards and techno-boffin Geoff Bell, deploy the ultimate all-terrain camera vehicles – elephants – kitted out with the latest high-definition 'secret weapons' of wildlife filmmaking – trunk-cam, tusk-cam and log-cams. The four elephants here in India's Pench national park have also been taught new filming skills by their mahouts - how to keep a steady trunk and a delicate touch. As eco-friendly 4X4s, the elephants carry the hefty trunk-cam and smaller tusk-cam wherever the tiger family goes across its 10-square mile territory. The tigers seem oblivious to the elephants and allow them to place trunk-cam right under their whiskers to film. The elephants also use the devices to film the tigers on the move. The human film crew film from another elephant and control the ele-cams remotely.
Tigers may be the A-list celebrities, but there's a cast of rising B-list stars too. Cheeky langur monkeys are transfixed by their reflections in log-cam, and rare sloth bears, red dogs and a leopard with her cubs all make cameo appearances.
It's almost unheard of for four cubs to survive through to adulthood, and these four face many dangers along the way – from rogue male tigers and leopards in their territory to being left home alone. Tiger - Spy in the Jungle is there every step of the way.
Narrated by Sir David Attenborough.


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e4 is an innovative technology company specialising in the provision of software solutions as a service. We endeavour to form strategic partnerships with our clients to provide meaningful and continued value as technology experts over the long term. Our end to end offerings are fully supported throughout the entire service lifecycle.
BondTracker enables both conveyancers and their clients to track the progress of a bond from instruction to registration using the latest in communication technology.
The IOS and Android compatible mobile app provides a conveyancer with valuable insight and keeps a client up to date with any progress on their bond, while on the go.
BondTracker has two interfaces; one for a conveyancer and one for a client.
Find out more about BondTracker
RealRes is a fully digital system that allows for an immediate and authentic Proof of Residence to be created for a customer, given the customers input of their current physical address. This negates the need for a client to provide their own documents proving their address when opening accounts or initiating new relationships with any organisation.
Check out the RealRes brochure for more information.
e4 recently launched Virtual Identity, a mobile business app that is aimed at successfully connecting institutions with customers online.
The app, available on web and iOS and Android, will digitise the Financial Intelligence Centre Act (FICA) and Regulation of Interception of Communications and Provision of Communication-Related Information Act (RICA) process.
To find out more visit our product section.
e4 is an innovative specialist provider of electronic technology solutions and services.


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1.5L Water Filter Jug
1.5L Ace Bio Mineral Water Jug
YES Removes Fluoride and alkalises !
At urban gypsy australia we realise the importance of good quality filtered water.
The Bio Mineral Ace Jug is the latest technology in portable water filtering jugs.
The filters remove chemicals, heavy metals, Nitrates, bacteria and most importantly fluoride, while creating mineralised magnetised alkalised water.
Featuring 9 stages of filtration, the BMP Ace jug turns your tap water into great tasting, alkaline, energised mineral water at around 2 cents per litre.
Features of 1.5 Litre Jug
• All natural gravity fed system
• Portable, refillable 1.5L Jug
• Activated Coconut shell carbon filter reduces impurities
• Quickly re-mineralises tap water with ease
• Clean, fresh tasting, energised water
• Ideal for home, travel, caravans, camping and boats
• Reduction in landfill waste from discarded water bottles
• Environmentally friendly water
• Replaceable filter, after 4800 litres or 24 months
• Creates water with an Oxidation-reduction
potential of up to -250 (will vary based on source water)
• Creates Alkaline water with pH value of 7.4 – 8.2
(may vary based on source water)
• Magnetised creating Hexagonal water molecules
• No electricity required
• No plumbing required
• Life Time Warranty on the product
• BPA free product
Portable, compact and lightweight, the BMP Ace Jug can go where you go. It fills easily from any tap, making it great for home, work, travel, caravans and camping.
Made from BPA free materials and is non-leeching.
Filtered water stays fresh & tasting great!
It removes up to 99% of chlorine, 97.5% of aluminium and 85% of fluoride.
Due to the nature of the filter it retains a bacteriostatic function. This prevents the propagation of bacteria, which is one of the biggest problems with other jug filters.
Creates Alkaline water with pH value of 7.4 – 8.2, may vary based on source water.
Environmentally friendly
Store bought bottled water isn't just expensive. It contributes to the consumption of tonnes of environmentally unfriendly plastic waste made from non-renewable fossil fuel resources
When these bottles are emptied, the greater percentage become landfill – or garbage that ends up in waterways.
Greenhouse gases are the by-products of manufacturing these disposable, store-bought plastic water bottles & many of the reusable bottles which still have a limited lifespan.
So to are the carbon emissions from vehicles that transport these bottles to shops.
Don't waste your money or the planet's resources in the process. Filter the water yourself.
The BMP Ace jug contains special magnets, which restore waters natural hexagonal cell structure giving a reduced cluster size & surface tension. This enables the water to penetrate into your cells faster & with greater ease thus increasing your rate of hydration.
Filtration stages
Prefilter, activated carbon filter medium, ion exchange resin, bio organic alkaline minerals, organic germanium, far infrared and magnets. Filtering out chlorine, heavy metals, fluoride, nitrate, odours, sediment, bacteria, cysts & viruses. Adding 'Ki' (Life energy), around 60 bio organic trace minerals & restructuring the water molecules to significantly increase cellular hydration.
Water Quality
All water filtering products have been stringently tested resulting in a number of certifications & quality awards from internationally recognised bodies including:
ISO (International Organisation for Standardisation), USA FDA (Food & Drug Administration), Water Quality Association, Olympic Scientific Congress, USA EPA (Environmental Protection Agency) International Star Quality Awards (Geneva, Switzerland, Spain), KQA (Korea Quality Assurance), World Quality Commitment Award, Most Environmentally Conservative Company (Korea Ministry of Environment).
Jug weighs 1.1 kg empty without filters in
Jug with filters Approx 2 kg
Approx 290mm tall
Approx 120 mm in diameter
Filter life of 24 months or 4800 litres.
Filters 1.5 litres of water at a time.
The 1.5 litre replacement filter kit is also available from UGA, or just email us or use the contact us form when its time, and we will quote the replacement cost of the filters.
We are so confident of the quality of our products, should any malfunctions develop due to faulty materials or manufacturing defect, we will replace the part or system with the same or similar product within the life of the purchaser. ( YOUR LIFE )
Free delivery in Australia, international quoted at time of check out.


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The Official Dice Technology Job Search Guide : Intended to complement content on the Dice Web site, this unique career guide is essential reading if you are seeking a better job, changing jobs, or looking for your first job. It provides you with real-world sample resumes, interview dialogue, and helpful career resources, as well as invaluable advice on how you can set yourself about the task of applying for high-competition positions. You'll also learn realistic salary expectations for tech jobs and the importance of certifications, among other vital topics.
|Computers & Internet


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The Victims - a dark comedy about the Israeli - Palestinian conflict
An overly empathetic writer returns to his homeland to resolve an international dispute through words, but his characters have a different story in mind.
Executive Producer Adam Kern, and screenwriter Ken Kaissar are running a crowdsourcing campaign to raise funds to start their production company. Once initial funding is raised, the pair can create an LLC, hire an entertainment lawyer and start approaching large scale investors to raise the financing required to make the film.
The Victims is a story that shifts back and forth between two parallel worlds, one literal and the other poetic.
For the first time since leaving as a child, David returns to Israel as an adult to gather research and an understanding of the Israeli-Palestinian conflict, while Paula stumbles upon the garden of Jidi and Bassee, two creatures who lived in an idyllic world where they grew their own food and lived in tranquility.
Now in Jidi and Bassee's garden, life is riddled by conflict and violence, until Paula, a peacemaker, comes to help them resolve the hostilities.
The Victims is a complex look at a complex issue in which what you see is not always what you get.
The film asks its audience to abandon any questions of bias and balance regarding the Palestinian / Israeli conflict. You will quickly find out that it doesn't matter which side Jidi and Bassee represent, as both sides are hindered by the ever-present attitude of: "What do you want me to do about it?"
Runner-up for the 2009 Princess Grace Award and honored by the Lark Play Development Center as part of the Middle East America Play Commission, Ken Kaissar's The Victims is a timely piece that may not resolve the conflict, but can open eyes to how truly complex it is.


text: Interested in knowing how the minimum wage of an area compares to a living wage? Take a look at the map. You can go down to county and metro level. Columbus does well compared to most of the nation, but no minimum wage is enough in any area to equal a local living wage.


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The following interview is with a Dupuytren's and Ledderhose patient from the UK. He has had surgery, more information can be found here.
1) Do you have Ledderhose disease, Dupuytren's disease or both?
Both. Dupuytren's of my left hand was diagnosed in 2004 at Addenbrooks Hospital, Cambridge. It was causing a lot of pain as it bent up and nodule appeared on the palmar fascia. I didn't really know what it was at first. No surgery was recommended, and it has only slightly deteriorated over the last 10 years. The pain is intermittent, but bad when I catch it on something! I have very limited mobility in my little finger and can't straighten it. The nodule is clearly visible.
My plantar fibromatosis was diagnosed in early 2009 by Mr Phillip Milsom in Colchester, Essex. He operated on my left foot (the worst of my two feet) in June 2009.
2) Do you have a family history of the disease or have any increased risk from other risk factors such as excessive alcohol consumption, smoking, diabetes etc?
My father had both hands operated on for his Dupytren's at different times; it reduced pain but increased mobility was very short lived. At a family party, I also noticed my great aunt had it in one hand. I don't excessively consume alcohol, nor smoke. My paternal grandmother was diabetic.
3) How long had you had Ledderhose before considering Surgery? And what other treatments had you received / were you offered by medical professionals?
My GP nearly tried to lance the nodules on my foot! He believed it to be a ganglion cyst, however, thankfully he referred me to the specialist Mr Milsom. This was in early 2009 when I had chronic pain from my foot and it was starting to affect my work and sporting activities. Despite the the risks associated with surgery, he recommended this as the best plan of action. It was unusual to have Ledderhose at my age, I was 26 at the time.
4) Before Surgery were you made aware of the rate of reappearance after traditional surgery and did this concern you?
Yes, but I needed to do something. I am a teacher and I was having to take my shoes off and teach barefoot as the pain was so great. After playing hockey on a Saturday, I had to rest for most of Sunday.
I was warned that that success rate was variable and that they could easily come back, with more or less pain. It was obviously a major concern, but I was willing to try it.
5) Were you at the stage where you couldn't walk before you had surgery / what sort of pain were you in?
Obviously I was not totally incapacitated but the pain was regular and at times severe. When I woke up in the morning, it was often bad. I had a burning sensation or a dull ache. Walking on uneven surfaces was particularly difficult, the beach was the worst! I had to stop wearing several pairs of shoes as they were just impossible to wear without huge amounts of pain.
6) What kind of surgery did you have and how long did it take?
A large part of the plantar fascia was removed including the section where the nodules were. This operation was carried out by the consultant himself at Colchester General Hospital, Essex.
I was under local anaesthetic, I had several injections in my foot before being taken into surgery. My foot was elevated and a screen placed across my torso so I couldn't see down to my feet. It was a very odd sensation, it felt like someone was drawing on the base of my foot with a biro pen.
The operation lasted about an hour. After which I was allowed to go home.
7) How did the treatment go? How long did the treatment take and what was recovery time like?
The operation was a success. However the recovery time was long. I had the operation on the 1st June and I was on the sofa for June, July and most of August. I returned to work on the 1st September.
Friends and family were good to me and took me out, however I can see how depression can kick in. I was taking a large dose of painkillers to begin with, but they left me constipated, and so I had to reduce those. I found it impossible to get comfortable and I slept a lot.
8) How long ago was the Surgery treatment? Have the lumps grown back? If yes how long did they take to grow back and are they worse now?
However, as I am only 30 now, I do worry that the pain will return to the level it was previously. I still get the burning pain and the dull aches, and after sport it can be very painful. I elevate it when this occurs.
9) Would you say that the surgery was worth it? And would you recommend it to people that have Ledderhose? Would you consider having it again?
For pain relief, yes it was certainly a success. However I do have reservations about it being labelled a cure. Perhaps it is for some people, but obviously mine are now bigger than they were previously!
Since discovering this blog, I am in the process of considering my next step. I am looking at alternative treatments as I do worry that this is only going to get worse. I love to play hockey, and to run; I have managed two half marathons with my Ledderhose.
10) What would you say your standard of walking is at the current time and do you think this would be different had you chosen not to have Surgery?
I would definitely say things are better, and perhaps its current state is the best it ever will be. I think I have come to the realisation that this may be something I need to cope with for the remainder of my life. There are worse discomforts in life, and it is certainly not debilitating. It is an inconvenience though, and I do very much worry that it may get worse at some point in the future.
11) What treatments have you tried since surgery?
None to date.
12) What treatment options are you considering now?
I plan to visit my GP in the area where I now live and start the process from scratch to see what is offer in my new area (Upminster, Essex) on the NHS. However I realise that I may need to seek private treatment either here or in the US. If something closer to a cure is available, the cost will be insignificant compared to the freedom it would offer.
That is the end of my interview with Andy Lewis. He has given some great answers and it is interesting to hear that at the moment his surgery is sort of successful as he isn't suffering from the same degree of pain as he was before. It will be interesting to know what treatment he is offered and what treatment option he goes for. There are certainly still some available whether it be Radiotherapy, Cryosurgery or an enzyme injection.


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Changes in 2012
The last two weeks of the year I spend reflecting on the previous year and how I want the new year to go. I think about goals, desires, intentions, and new business ideas. This year is no different. Here's an analysis of what happened in 2011 and what's planned for 2012. The Readings Last year… Read On
Erin Recommends
- Talk to Your Guides - Learn how they can help you right now
- Raise Your Vibration - In less than 10 minutes
- The Other Side - All about the afterlife, spirits, and your guides
- Learn Astral Projection - Learn to leave your body at will


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01780 767 617
Gone are the days when you step out of a steaming hot shower to a mirror that is misted over and takes a good twenty minutes to clear. These days all you need to do is buy one of our self adhesive pads, wire it into the lighting circuit for your illuminated mirror and within two minutes your mirror is fog free. Even better yet, switch it on before you get into the shower and the mirror is never cold enough for the fog to form in the first place. Neat eh?
If a customer wants to purchase a demister pad when they buy an illuminated mirror, we ask if their bathroom is new, has an extractor fan installed as often the lamps in the mirror are sufficient to defog the mirror if turned on BEFORE having a shower/bath and the room is well ventilated. Of course older bathrooms and those people who prefer a sauna type situation will benefit from using a demister pad on the mirror.


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Hey ladies (and gentlemen, yes I see you too!)
I was checking out my statistics overview the other day and realised just how popular The Aurora Band Night Roller review was and still is. It's one of those posts that gets just as many views as my most recent entries and it suddenly dawned on me that I've got quite a bit more to share on the subject since I've now been using the product for two years (seriously, where does the time go?). Anyway, you get the drift of what's about to go down so I'll get down to the details:
About Aurora
Aurora Hair Products is a Limited Company, set up by a couple named Lindsey Byrne and Alex Purcell. Lindsey is an expert hairdresser based in Dublin. Her salon, The Colour Room' Artane, focuses on providing salon quality hair that won't break the bank. She developed and launched The Night Roller to enable her customers (and all of their friends across the globe) to achieve natural waves at home with little effort and no heat. The business was featured on Dragon's Den and has unsurprisingly grown dramatically in size and popularity since.
The Colour Room' Artane
Pauls Hair World
Little Woods
Make Me Up Marie's 2015 Review & Results:
In a nutshell:
- Can flatten the top half of your hair
- Bottom heavy volume
- A nice natural wave
- Easy everyday fix
- Unique invention
Make Me Up Marie's 2017 Review & Results:
To be honest, this review is more requested than it is required. My opinions of The Aurora Band Night Roller remain pretty much the same even after two years of use. Though, the part about waking up with 'not a strand out of place' was a bit over-exaggerated. I mean common', that is literally impossible. But it really does eliminate the worry of ruining a beautiful blow-dry or undoing hours of hard work – and that's what I was trying to say.
I love that it takes just a matter of minutes to put in and take out. You can let the alarm snooze for a while in the morning, rest assured that styling is as simple as a quick (hair) spray and (head) shake! I no longer need to think about what I'm doing when I'm putting it in as I've done it so many times that it now feels like second nature. I'm also much more comfortable when sleeping now because I know it won't slip out so long as secure the hair properly.
It became a little redundant when I went for the chop. I find it requires at least chin length hair to work properly. A blunt cut is often better, as layers can flick out in all the wrong places depending on their length. And believe it or not, I'm still using the same roller I bought from a salon two years ago! So overall, I'm still very much enjoying it and pleased with the results I can accomplish overnight 🙂
- Achieves big, natural waves
- Lots of volume
- Great staying power
- No heat = no damage
- Saves time once you've got the hang of it
- Lots of how-to videos, reviews & guides online
- Tangles easily
- Varying results
- Touch-ups required
- No heat = less control
- Takes a while to get the hang of
- Outdated website
Top Tips
Before putting The Night Roller in:
- Spray the sponge with your favourite perfume (every time you swish your hair the people around you will get a luscious whiff)
- Shampoo and condition hair as normal
- Make sure the top part of your hair is dry to avoid a halo hair indent
- Re-wet the tips of your ends if they dry quickly to ensure they curl up nice and tight
- Apply a frizz-ease oil to the mid-lengths and tips of your hair
- Brush each section of hair before looping it through the sponge.
Upon taking The Night Roller out:
- Mist your hands with hairspray when styling to minimise frizz and maximise hold
- Twist sections of your hair and push upwards to re-group separated curls and tame stray strands
- Shake your head upside down to loosen up products and allow a natural arrangement of waves to form.
How-To YouTube Videos
Other Cool Blogger Reviews
Life Without A Fun Sponge | Review of The Aurora Band
Needs Not Wants Blogs | Aurora Hair Band My View
Mary Kinda Contrary | The Aurora Band – Does It Actually Work?
The Night Roller FAQ
What hair types is it suitable for?
The Night Roller is renowned for inducing frizzy ends and that's why I'd suggest you always use a hair oil and brush thoroughly beforehand. I'd say this product is suitable for most types of hair, including straight, wavey, thick, thin or coloured. I doubt it would work well on Afro-Caribbean hair but obviously that's not something I've been able to test for myself.
Is it suitable for all ages?
It is designed for adults but there is a kids version which you can find here and I'm guessing is just slightly smaller? I've not tried or even seen it myself so it could be no different to the original besides from the colour… the website isn't all that explanatory. I guess you have to buy it to try it, unless you happen to be in Dublin and can pop into the salon for a trial.
Will it fit my head?
It is one size fits all and has an elastic band like an eye mask, so it is highly unlikely your head is too large for this product. And if it is, replacing the elastic or simply extending it is a really quick and easy DIY sewing jobbie! I would totally give it a go if I needed to. Still beats getting up 40 minutes before you need to in the morning, lol.
Why do the results vary so much?
The results certainly seem to vary, not just from girl to girl but also from day to day. I guess the key to consistency is getting the technique down. Practise putting it in a few times and keep in mind that results are also somewhat reliant on the way you sleep… e.g. if you toss and turn one night and stay really still the next, there's going to be an obvious contrast in outcome. This product seems to work best for a textured look.
Is it comfortable to sleep in?
In my opinion, yes. And let me be clear that this is when comparing The Aurora Band to other sleep-in rollers and rags I've tried over the years. Obviously the best way to sleep is without any constraints but if you're a heavy sleeper like me then this really won't bother you if used every once in a while. I actually like the support of the sponge for a change and as previously mentioned, have got less and less conscious that I'm wearing it the more times I use it so no longer result to sleeping like a statue.
Does it only come in one colour?
Kinda. There's a limited edition Night Roller that is black but it is really hard to find in more drugstores so you're better off ordering online. It costs a little extra and I'm not sure I care what I look like when I'm sleeping that much. Y'all know I'm a pinkaholic anyway so even if there were more colour choice it's unlikely I'd bother to explore them anyway!
Can I use it with hair extensions in?
I can't imagine this helping with the tangling aspect but if you're okay with not being able to run your hands through your hair then I suppose you technically could use this product with tape, glue or micro ring hair extensions in, if careful. I'd avoid using it with clip-ins altogether, as that is just a catalyst for catastrophe (and no that's not me sharing from experience. I'm silly but not that silly!).
Are there any other comparable products on the market?
Only one, as far as I can tell. When researching online I found this Glam Waves Roller Head Band For Short to Medium Length Hair and decided to head on over to their website (which has its own FAQ). I'm not sure who came first but the true inventor is where my heart lies. I'm loyal like dat 🙂 All jokes aside, I haven't tried it and would like to. It offers different sizes and claims the have a "no frizz design". It looks comparable but from the images the material isn't the same Velcro I'm used to from Aurora.
And that's just about every piece of information I have on Aurora. I hope you've found this extensive review/company overview/how-to useful. If you have any comments or thoughts related to this product please use the section below.
Cherrio… until next time,


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Here's another great dish from $5 Dinners, one of our blog partners bringing some unique twists on classic Hurst's bean recipes. Check out here website for a ton of awesome recipes featuring our products and many other budget-friendly options for your family.
(Original post from $5 Dinners found HERE)
Yield – 6 to 8 servings
Preparation Time – 10 minutes
Cooking Time – 8 hours
- 20 oz. bag HamBeens Cajun 15 Bean Soup
- 1 small white onion, chopped
- 3 garlic cloves, crushed
- 1 cup chopped celery
- 15 oz. can diced tomatoes, undrained
- 1/2 lb. cooked brisket
- 1/2 cup BBQ sauce
- Salt and pepper to taste
- Soak beans in a bowl of hot water for an hour, or overnight in room temp water.
- Add all the ingredients, including the Cajun seasoning packet, plus 9 cups of water to the slow cooker. Set on low and cook for 8 hours, or high for 6 hours.
- Season to taste.
- Serve Smoky Cajun Brisket & Bean Soup.


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Road Work
The 2015 to 2018 Infrastructure Plan
The City and Utilities Kingston work together to improve the network of roads, sidewalks and utility services within the city. Included in the map are scheduled construction projects to City streets, sidewalks, street furniture, bridges, bikeways and traffic infrastructure for 2015-18. Click on it for information about each project.
The City builds and maintains thousands of kilometres of roads, sidewalks and other transportation infrastructure so that traffic – pedestrians, cyclists and motorists – can move safely and efficiently. Please visit the links below for information on these major infrastructure projects:
- John Counter Boulevard - widening from Sir John A. Macdonald Boulevard to Princess Street
- Princess Street reconstruction - phase three
- Bikeways and cycling infrastructure
- Traffic calming and intersection improvements
Road repairs
Cold-patch is used to fill cracks and potholes. But some roads require more substantial asphalt repairs that will last up to five years.
The 2018 road repair list is coming soon!
Motorists and cyclists can keep up with where/when repair work is taking place by:
- Following @CityofKingston on Twitter for daily updates.
- Signing up for Breaking News at www.CityofKingston.ca/news to receive Friday Traffic Reports mentioning more major repairs.
How the City plans infrastructure improvements:
The City works with Utilities Kingston to develop multi-year plans for infrastructure improvements.
Multi-year planning offers opportunities for efficiencies with data collection, contractor procurement, shovel-ready design necessary for grants from upper levels of government, improved coordination between project stakeholders and improved communication.
Projects are selected based on a number of factors: existing long-term infrastructure plans, various master plans, condition and risk assessments and need for new infrastructure to support development.
Please note: scheduled work to complete the previous infrastructure plan is not shown on map.
- Work in Williamsville is due for completion in 2015 and so is not reflected on the map above as it was contained in the 2011- 2014 infrastructure plan. See more information on it and other ongoing City projects.
- Work also continues in 2015 in the area of Kingston General Hospital on Okill, Stuart and Arch streets as scheduled in the 2011-2014 infrastructure plan.


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Potential candidates will be drawn from the institutions participating in the Center. Women and minority candidates are especially encouraged to apply.
New Investigators: Candidates are board certified/eligible Pediatric Nephrologists with an MD or MD/PhD degree who have completed their subspecialty training and other junior physician-scientist or PhD scientists with an interest in kidney development and disease
Established Investigators: Established investigators will be funded scientists who are either proposing to explore a new avenue of their ongoing kidney-related research (not covered by current funding) or are moving into kidney research from another field.
Applicants will submit a one-page preliminary proposal to be reviewed by the P&F director to ensure relevance and responsiveness. Applicants will then be asked to present a formal application in the format of a shortened version (6 page limit) of an RO1 application that has been prepared with assistance from a suitable mentor (for new investigators) from their own institution. Candidates will also submit a one-page essay stating their motivation and goals in choosing to apply for PFP funding. In addition, (for new investigators) a letter from a former mentor and two references evaluating the candidate's potential to become a successful investigator will be requested.
Selection of candidates will be made by the Center's Executive Committee with the advice of the External Consultants during the Center's annual meeting as outlined below.
Applications will be scored using the follow criteria:
- Quality of the written research proposal (NIH scoring system) and consideration of the likely potential for a pilot project to evolve into a major research project, fundable at the R01 or K08 level.
- Presentation and defense of the research proposal by the applicant will be invited to attend the annual meeting of the Center and present his/her research plan to the External Advisors and Executive Committee. Members of the faculty and fellows of the hosting institution will also participate in this activity. Following the presentation and after a period of questions and answers, the committee will make a final recommendation with regard to admission to the program.
- Interview with members of the P&F Program Committee
- Record of previous accomplishments as judged from Curriculum Vitae
For new investigators:
- Letters of recommendation from previous mentors
- Personal essay addressing career goals
- Scientific excellence and commitment of advisor to foster the career of the new investigator
The maximum period of support for Pilot Projects is two years. Pilot projects are evaluated on a yearly basis, with continuation for a second year based on the outcome of the evaluation of the written and oral progress report (given by the Pilot project awardee) at the annual meeting of the Center when the whole center is reviewed by external consultants and the Executive Committee.