text:
Friday, March 22, 2013
Taub on the London Whale
March 22, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Sunday, March 17, 2013
UCincinnati Symposium on Enforcement Practices in the Post-Financial Crisis Era
On March 15 the Corporate Law Center at the University of Cincinnati College of Law presented the 26th Annual Corporate Law Symposium, which focused on Addressing the Challenges of Protecting the Public: Enforcement Practices and Policies in the Post-Financial Crisis Era. The webcast with be posted on the CLC website in a few days; meanwhile, here's the list of the speakers and the titles of the papers they presented. The papers will be published in a forthcoming issue of the University of Cincinnati Law Review.
Panel I: Securities Enforcement: the SEC and FINRA
Moderator: Verity Winship
■Douglas Branson, SEC Enforcement: A New Era for Broker-Dealer Regulation
■Jennifer Johnson, Sinking in the Sea Change? FINRA and the Regulation of Non-Public Offerings
■Renee Jones, Utilizing the Director Bar to Enforce Corporate Accountability
■Geoffrey Rapp, An Analysis of the SEC's New Office of Market Intelligence
Distinguished Guest Speaker: David M. Becker; Cleary, Gottlieb
Mr. Becker discussed the challenges facing the SEC from the vantage point of his many years of experience both in private practice and in senior policy positions at the SEC.
Panel II: Policy Implications in Public Enforcement
Moderator: Amanda M. Rose
■Samuel Buell, Liability and Admissions of Wrongdoing in Public Enforcement of Law (posted on SSRN)
■J.W. Verret, Overcriminalization and its Consequences
■Adam Zimmerman, Executive Branch Compensation Settlements
State Securities Regulation Roundtable
A panel discusses cutting-edge issues that especially concern state securities regulators.
Moderator: Jennifer Johnson
■Joseph Brady, General Counsel, North American Securities Administrators Association
■Chris Naylor, Indiana Securities Commissioner
■Andrea L. Seidt, Commissioner, Ohio Dept. of Commerce, Division of Securities
March 17, 2013 in Law Review Articles, Professional Announcements | Permalink | Comments (0) | TrackBack (0)
Rose & Walker on Cost Benefit Analysis in Financial Regulation
The Importance of Cost-Benefit Analysis in Financial Regulation, by Paul Rose, Ohio State University (OSU) - Michael E. Moritz College of Law, and Christopher J. Walker, Ohio State University (OSU) - Michael E. Moritz College of Law, was recently posted on SSRN. This is a Report for U.S. Chamber of Commerce & Law and Capital Markets @ Ohio State, 2013. Here is the abstract:
This report reviews the role, history, and application of cost-benefit analysis in rulemaking by financial services regulators.
For more than three decades — under both Democratic and Republican administrations — cost-benefit analysis has been a fundamental tool of effective regulation. There has been strong bipartisan support for ensuring regulators maximize the benefits of proposed regulations while implementing them in the most cost-effective manner possible. In short, it is both the right thing to do and the required thing to do.
Through the use of cost-benefit analysis in financial services regulation, regulators can determine if their proposals will actually work to solve the problem they are seeking to address. Basing regulations on the best available data is not a legal "hurdle" for regulators to overcome as they draft rules, as some have described it, but rather a fundamental building block to ensure regulations work as intended.
Not only do history and policy justify the use of cost-benefit analysis in financial regulation, but the law requires its use. In a trio of decisions culminating in its much-publicized 2011 decision in Business Roundtable and U.S. Chamber of Commerce v. SEC, the D.C. Circuit has interpreted the statutes governing the Securities and Exchange Commission (SEC) to require the agency to consider the costs and benefits of a proposed regulation. Thus, the SEC's failure to adequately conduct cost-benefit analysis, the D.C. Circuit has held, violates the Administrative Procedure Act. These judicial decisions have supporters as well as critics. However, the SEC's response is telling: the SEC did not seek further judicial review, but instead issued a guidance memorandum in March 2012 that embraced virtually all of the instructions the D.C. Circuit had provided in its decisions. It remains to be seen whether the SEC will put its new guidance memorandum into practice.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) only elevates the importance of cost-benefit analysis in financial regulation. By requiring nearly 400 rulemakings spread across more than 20 regulatory agencies, implementing Dodd-Frank is an unprecedented challenge for both regulators and regulated entities. The scale and scope of regulations have made it even more important, despite the short deadlines, for regulators to ensure they adequately consider the effectiveness and consequences of their proposals.
Accordingly, we recommend that all financial services regulators should follow similar protocols found in the SEC guidance memorandum and apply rigorous cost-benefit analysis to improve rulemaking and put in place more effective regulations. These steps also promote good government and improve democratic accountability.
There is widespread agreement that ineffective and outdated financial regulation contributed to the financial crisis. As regulators seek to address that, they must take every reasonable step to ensure that their proposals work. This starts with grounding all proposals in an economic analysis to better achieve the desired benefits and better understand the possible consequences and costs that may result from their actions.
March 17, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Buell on the White Collar Offender
Is the White Collar Offender Privileged?, by Samuel W. Buell , Duke University School of Law, was recently posted on SSRN. Here is the abstract:
For at least a decade, and especially since the banking catastrophe, much public commentary has asserted or implied that the American criminal justice system unjustly privileges individuals who commit crimes in corporations and financial markets. This Article demonstrates that this claim is not so, at least not in the ways commonly believed. Law and practice controlling sentencing, evidence, and criminal procedure cannot persuasively be described as privileging the white collar offender. Substantive criminal law makes charges easier to bring and harder to defend against in white collar cases. Enforcement institutions, and the political economy in which they exist, include features that both shelter corporate offenders and heighten their exposure. Corporate actors enjoy a large advantage in legal defense resources relative to others. That advantage, however, does not pay off as measurably as one might expect. Both in general and as applied to recent events in the banking sector, the claim of privilege can be sustained only by showing that basic American arrangements of criminal law and policing have been misguided. A fully developed argument would fault the justice system for failing to treat illegal behavior within firms as requiring omnipresent policing, looser definitions of criminality, the harshest of punishments, and rethinking of rights to counsel. Those who believe corporate offenders are privileged might have a cause. But they should confront the magnitude of their claims. And they should be aware of complications that follow from overreliance on punishment to deal with intractable problems of regulatory control.
March 17, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Sunday, March 10, 2013
Lin on the New Investor
The New Investor, by Tom C. W. Lin, University of Florida - Fredric G. Levin College of Law, was recently posted on SSRN. Here is the abstract:
A sea change is happening in finance. Machines appear to be on the rise and humans on the decline. Human endeavors have become unmanned endeavors. Human thought and human deliberation have been replaced by computerized analysis and mathematical models. Technological advances have made finance faster, larger, more global, more interconnected, and less human. Modern finance is becoming an industry in which the main players are no longer entirely human. Instead, the key players are now cyborgs: part machine, part human. Modern finance is transforming into what this Article calls cyborg finance.
This Article offers one of the first broad, descriptive, and normative examinations of this sea change and its wide-ranging effects on law, society, and finance. The Article begins by placing the rise of artificial intelligence and computerization in finance within a larger social context. Next, it explores the evolution and birth of a new investor paradigm in law precipitated by that rise. This Article then identifies and addresses regulatory dangers, challenges, and consequences tied to the increasing reliance on artificial intelligence and computers. Specifically, it warns of emerging financial threats in cyberspace, examines new systemic risks linked to speed and connectivity, studies law's capacity to govern this evolving financial landscape, and explores the growing resource asymmetries in finance. Finally, drawing on themes from the legal discourse about the choice between rules and standards, this Article closes with a defense of humans in an uncertain financial world in which machines continue to rise, and it asserts that smarter humans working with smart machines possess the key to better returns and better futures.
March 10, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Fried on Favoring Long-Term Shareholders
The Uneasy Case for Favoring Long-Term Shareholders, by Jesse M. Fried, Harvard Law School, was recently posted on SSRN. Here is the abstract:
Proposals to favor long-term shareholders of public firms are based on a widely-held belief: that long-term shareholders, unlike short-term shareholders, benefit from managers maximizing the long-term economic value generated by the firm. This belief, I show, is mistaken. Long-term shareholders, like short-term shareholders, can benefit from managers destroying economic value. My analysis suggests that the case for shifting power from short-term to long-term shareholders is substantially weaker than it might appear.
March 10, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Bruner on Corporate Purpose in Post-Crisis Financial Firms
Conceptions of Corporate Purpose in Post-Crisis Financial Firms, by Christopher M. Bruner, Washington and Lee University - School of Law, was recently posted on SSRN. Here is the abstract:
American "populism" has had a major impact on the development of U.S. corporate governance throughout its history. Specifically, appeals to the perceived interests of average working people have exerted enormous social and political influence over prevailing conceptions of corporate purpose - the aims toward which society expects corporate decision-making to be directed. This article assesses the impact of American populism upon prevailing conceptions of corporate purpose - contrasting its unique expression in the context of financial firms with that arising in other contexts - and then examines its impact upon corporate governance reforms enacted in the wake of the financial and economic crisis that emerged in 2007.
I first explore how populism has historically shaped conceptions of corporate purpose in the United States. While the "employee" conceptual category best encapsulates the perceived interests of average working people in the non-financial context, the "depositor" conceptual category best encapsulates their perceived interests in the financial context. Accordingly, American populism has long fostered strong emphasis on the interests of bank depositors, resulting in striking corporate architectural strategies aimed at reducing risk-taking to ensure firm sustainability - notably, imposing heightened fiduciary duties on directors and personal liability on shareholders. I then turn to the crisis, arguing that growing shareholder-centrism over recent decades goes a long way toward explaining excessive risk-taking in financial firms - a conclusion rendering post-crisis reforms aimed at further strengthening shareholders a surprising and alarming development. While populism has remained a powerful political force, it has expressed itself differently in this new environment, fueling a crisis narrative and corresponding corporate governance reforms that not only fail to acknowledge the role of equity market pressures toward excessive risk-taking in financial firms, but that effectively reinforce such pressures moving forward.
I conclude that potential corporate governance reforms most worthy of consideration include those aimed at accomplishing precisely the opposite, which may require resurrecting corporate architectural strategies embraced in the past to reduce risk-taking in financial firms. As a threshold matter, however, we must first grapple effectively with a more fundamental and pressing social and political problem - the popular misconception that financial firms exist merely to maximize stock price for the short-term benefit of their shareholders.
March 10, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Saturday, March 2, 2013
Laby on Regulatory Implications of Morrison
Regulation of Global Financial Firms after Morrison v. National Australia Bank, by Arthur B. Laby, Rutgers University School of Law - Camden, was recently posted on SSRN. Here is the abstract:
In 2010, the U.S. Supreme Court decided Morrison v. National Australia Bank Ltd., which rewrote the law of extraterritoriality, shattering decades of precedent. After Morrison was decided, Congress, the U.S. Securities and Exchange Commission, and commentators have focused on the case's enforcement implications. This Article is different. This Article focuses not on enforcement but rather on the regulatory implications of the decision, arguing that Morrison calls into question the SEC's ability to regulate and require registration of non-U.S. domiciled firms. By asserting a strong presumption against extraterritorial application of the securities laws and invalidating the conduct and effects test, the Court overturned doctrines the SEC has relied on for many years when regulating non-U.S. domiciled broker-dealers and investment advisers. These regulatory implications are of paramount importance to the SEC's regulatory program and to investor protection, but they have gone largely unnoticed in Morrison's aftermath. The goal of this symposium contribution is to identify the regulatory implications and the challenges they pose.
March 2, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Friday, March 1, 2013
Coffee on the Future of Insider Trading
Mapping the Future of Insider Trading Law: Of Boundaries, Gaps, and Strategies, by John C. Coffee Jr., Columbia Law School; European Corporate Governance Institute (ECGI); American Academy of Arts & Sciences, was recently posted on SSRN. Here is the abstract:
The current law on insider trading is arbitrary and unrationalized in its limited scope in a number of respects. For example, if a thief breaks into your office, opens your files, learns material, nonpublic information, and trades on that information, he has not breached a fiduciary duty and is presumably exempt from insider trading liability. But drawing a line that can convict only the fiduciary and not the thief seems morally incoherent. Nor is it doctrinally necessary.
The basic methodology handed down by the Supreme Court in SEC v. Dirks and United States v. O'Hagan dictates (i) that a violation of the insider trading prohibition requires conduct that is 'deceptive' (the term used in Section 10(b) of the Securities Exchange Act of 1934), and (ii) that trading that amounts to an undisclosed breach of a fiduciary duty is 'deceptive.' This formula illustrates, but does not exhaust, the types of duties whose undisclosed breach might also be deemed deceptive and in violation of Rule 10b-5. Many forms of theft or misappropriation of confidential business information could be deemed sufficiently deceptive to violate Rule 10b-5. More generally (and more controversially), the common law on finders of lost property might be used to justify a duty barring recipients from trading on information that has been inadvertently released or released to them without lawful authorization. Still, current law has stopped short of generally prohibiting the computer hacker and other misappropriators who make no false representation.
This article surveys possible means by which to rationalize current law and submits that the SEC can and should expand the boundaries of insider trading by promulgating administrative rules paralleling and extending the rules it issued in 2000 (namely, Rules 10b5-1 and 10b5-2). Specific examples are suggested.
At the same time, this article acknowledges that the goal of reform should not be to achieve parity of information and that there are costs in attempting to extend the boundaries of insider trading to reach all instances of inadvertent release. Deception, it argues, should be the key, both for doctrinal and policy reasons.
March 1, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Sunday, February 17, 2013
Cain & Davidoff on 2012 Takeover Litigation
Takeover Litigation in 2012, by Matthew D. Cain, University of Notre Dame - Department of Finance, and Steven M. Davidoff, Ohio State University (OSU) - Michael E. Moritz College of Law; Ohio State University (OSU) - Department of Finance, was recently posted on SSRN. Here is the abstract:
Takeover litigation continues to be a much discussed issue in Delaware and among the corporate bar. This report provides preliminary statistics for takeover litigation in 2012. Based on preliminary statistics, takeover litigation continued to be brought at a high rate in 2012. 92% of all transactions experienced litigation. Similar to last year, half of all transactions experienced multi-jurisdictional litigation with the average transaction attracting 5 lawsuits. Median attorneys' fees for settlements inched slightly higher to $595 thousand per settlement while the average attorneys' fee declined substantially reflecting a fewer number of large settlements in 2012. Further information and numbers are contained in the report.
February 17, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
McDonnell on Financial Regulatory Cycles
Dampening Financial Regulatory Cycles, by Brett McDonnell, University of Minnesota Law School, was recently posted on SSRN. Here is the abstract:
Financial regulation should be countercyclical, strengthening during speculative booms to contain excessive leverage and loosening following crises so as to not limit credit extension in hard times. And yet, financial regulation in fact tends to be procyclical, strengthening following crises and loosening during booms. This paper considers competing descriptive and normative analyses of that procyclical tendency. All of the models and arguments considered are rooted in a public choice perspective on financial regulation, i.e. rational choice ideas drawn from economics and applied to politics, but with that perspective modified to take account of behavioralist biases in rationality, particularly the availability bias. That bias helps explain the procyclical tendency in financial regulation, as both the public and regulators ignore the threat of financial crises during boom times and become very focused on that threat when crises actually occur. The normal dominance of concentrated interest groups temporarily shifts as public attention turns to financial regulation following a crisis.
The models considered here, though differ greatly in their normative conclusions, with some mainly criticizing the deregulation which occurs during booms, others mainly criticizing the regulation which occurs following crises, and yet others critical of the timing of both. The models differ in how they understand the balance of interest groups outside of crises and how likely that balance is to lead to outcomes that reflect the public interest, in how well they think the crisis-related public attention can be channeled to reflect the public interest, and in how they analyze the underlying vulnerability of financial institutions and markets and the intellectual difficulty of regulation. After analyzing these differing models, the paper considers historical evidence to try to choose among them, and then considers various administrative mechanisms which might help dampen the procyclical tendencies of financial regulation. Some of the procedures considered include bicameralism and the committee system in Congress, notice-and-comment rulemaking, hard look judicial review, independent agencies, sunset clauses, mandated agency studies, regulatory "contrarians," and automatic triggers for various rules
February 17, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Litov et al. on Lawyer-Directors in Public Corporations
Lawyers and Fools: Lawyer-Directors in Public Corporations, by Lubomir P. Litov, University of Arizona - Department of Finance; University of Pennsylvania - Wharton Financial Institutions Center; Simone M. Sepe, University of Arizona - James E. Rogers College of Law; and Charles K. Whitehead, Cornell Law School, was recently posted on SSRN. Here is the abstract:
The accepted wisdom — that a lawyer who becomes a corporate director has a fool for a client — is outdated. The benefits of lawyer-directors in today's world significantly outweigh the costs. Beyond monitoring, they help manage litigation and regulation, as well as structure compensation to align CEO and shareholder interests. The results have been an average 9.5 percent increase in firm value and an almost doubling in the percentage of public companies with lawyer-directors.
This Article is the first to analyze the rise of lawyer-directors. It makes a variety of other empirical contributions, each of which is statistically significant and large in magnitude. First, it explains why the number of lawyer-directors has increased. Among other reasons, businesses subject to greater litigation and regulation, and firms with significant intangible assets (such as patents) value a lawyer-director's expertise. Second, this Article describes the impact of lawyer-directors on corporate monitoring. Among other results, it shows that lawyer-directors are more likely to favor a board structure and takeover defenses that reduce shareholder value — balanced, however, by the benefits of lawyer-directors, such as the valuable advice they can provide. Finally, this Article analyzes the significant reduction in risk-taking and the increase in firm value that results from having a lawyer on the board.
Our findings fly in the face of requirements that focus on director independence. Our results show that board composition — and the training, skills, and experience that directors bring to managing a business — can be as or more valuable to the firm and its shareholders.
February 17, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Sunday, February 3, 2013
Grundfest on Reg FD and Netflix
Regulation FD in the Age of Facebook and Twitter: Should the SEC Sue Netflix?, by Joseph Grundfest,
Stanford University Law School, was recently posted on SSRN. Here is the abstract:
The Staff of the Securities and Exchange Commission has announced its intention to recommend to the Commission that enforcement proceedings alleging a violation of Regulation FD be instituted against Netflix, Inc. and its CEO, Reed Hastings, because of a posting on Mr. Hastings' personal Facebook page. Mr. Hastings' webpage had more than 200,00 followers, including reporters who covered the posting in the traditional press. The posting was also the subject of a tweet by TechCrunch, which has approximately 2.5 million followers on Twitter.
This article is in the form of an amicus Wells Submission suggesting that the Commission would, for nine distinct reasons, be prudent not to initiate an action on the facts of the Netflix posting. In particular, the public record suggests that the posting did not contain material information, was not a selective disclosure, and because of its spread through social media constituted a "broad non-exclusionary distribution" that did not violate Regulation FD. A prosecution would also diverge dramatically from all prior Regulation FD enforcement proceedings, and would violate the Commission's prior representations not to "second guess" good faith efforts to comply with Regulation FD. In addition, the posting is not inconsistent with the Commission's 2008 Guidance on the Use of Company Webpages - - guidance that is seriously outdated because of the emergence of social media.
The enforcement action on the facts of the Netflix posting would, moreover, raise serious constitutional questions. Regulation FD is a restraint on truthful speech and, as applied on the facts of a Netflix prosecution, would involve discrimination against social media and in favor of more traditional media channels. There is also doubt that Regulation FD would pass muster as a restraint on commercial speech, particularly in light of the Supreme Court's recent decision in Sorrell and the Second Circuit's decision in Caronia. A loss on constitutional grounds would also call into question a large panoply of Commission regulations that act as restraints on truthful speech, including, without limitation, quiet period restrictions and restriction on communications with analysts.
Further, the issuance of the Wells Notice has already chilled the use of social media as a form of corporate communication absent the filing of a Form 8-K with the Commission. It also constitutes a questionable allocation of scarce Commission resources and raises questions that should be addressed through rulemaking and not through prosecution. The submission closes with suggestion for a reformulated Regulation FD that should be better able to pass constitutional muster and that would embrace social media technology rather than confront it.
February 3, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Heminway on Definition of Security Post- JOBS Act
What is a Security in the Crowdfunding Era?, by Joan MacLeod Heminway, University of Tennessee College of Law, was recently posted on SSRN. Here is the abstract:
With the advent of the crowdfunding era, financial interests in business enterprises may look less like investment instruments commonly known as common stock or debentures, and more like loans, gambling bets, rights to consumable products or services or charitable or other nonprofit donations. A closer look at innovations in interests, instruments and offerings in the crowdfunding era preceding the enactment of the Jumpstart Our Business Startups Act (JOBS Act) offers a basis for comparisons and contrasts that raises questions about the categorization of instruments regulated as securities. These and other questions are important to a rethinking of the structure of financial and financially related regulation in and outside the realm of U.S. securities law.
Specifically, innovations in financial interests and instruments that immediately preceded the JOBS Act raise a number of important questions about regulatory authority and interpretation. How do we classify the instruments that represent complex or hybrid financial interests in business enterprises? What area of regulation should apply to them? Why? What do the answers to those questions tell us, if anything, about the current (and possible future) structure and function of domestic and international financial regulation? This essay preliminarily explores the features of certain financial instruments in an effort to begin to answer these questions by focusing on what a security — a statutory and regulatory category including specific financial instruments — is and should be under federal securities law.
February 3, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Bainbridge on Reforming LIBOR
Reforming LIBOR: Wheatley versus the Alternatives, by Stephen M. Bainbridge, University of California, Los Angeles (UCLA) - School of Law, was recently posted on SSRN. Here is the abstract:
The London Interbank Offered Rate (LIBOR) is the trimmed average interest rate for interbank loans by a panel of leading London banks. LIBOR is the most widely used benchmark rate. An estimated $350 trillion in financial products are based on the LIBOR rate.
In late June 2012, a major scandal broke when Barclays PLC — one of the panel banks whose rates went into calculating LIBOR — agreed to pay $453 million in fines to UK and US regulators to settle allegations that Barclays had attempted to manipulate the LIBOR rate. The probe by multiple national regulators around the world quickly spread to include several other global banks.
In response, the United Kingdom's Chancellor of the Exchequer charged a commission led by Martin Wheatley with conducting an independent review of the setting and usage of LIBOR. In September 2012, Wheatley released a report proposing a comprehensive 10-point reform plan. In October, the UK Government announced that it accepted "the recommendations of Martin Wheatley's independent review of LIBOR in full."
Even though Wheatley's recommendations likely will have been implemented by the time this article appears in print, they are still deserving of analysis. First, changes and amendments may be necessary to further improve the process, perhaps including some of those suggested in this Article. Second, while LIBOR is one of the most important benchmark rates, it is not the only such rate. Some of these other benchmarks are already under scrutiny. Assessing the merits of various LIBOR reforms therefore may be helpful as regulators evaluate whether these other benchmark rates require similar reform.
In light of LIBOR's systemic importance as a global interest rate benchmark and the compelling evidence of rate manipulation by panel banks, reforming LIBOR was both a political and economic incentive. This Article explores a number of alternatives that were available to the UK government.
The Article concludes that leaving the problem to market forces had failed and, moreover, was politically unfeasible. Switching to a government-supplied alternative benchmark was both impractical and unwise as a policy matter, as was installing a government agency as a replacement for BBA as the LIBOR administrator. Although vesting the LIBOR administrator with sufficiently strong intellectual property rights to ensure an adequate stream of licensing fees to provide adequate incentives for the administrator and panel banks is an important part of a reform package, but — contrary to what some commentators have suggested — is not viable as a stand-alone reform.
In contrast to the alternatives, the Wheatley Review provides a comprehensive reform package that has proven politically attractive and seems likely to significantly enhance LIBOR's credibility and attractiveness as a interest rate benchmark. To be sure, the Wheatley regime is not perfect. To the contrary, this Article suggests a number of ways in which it can be expanded and improved. Over all, however, the analysis of the Wheatley Review herein strongly suggests that it will prove a viable starting point as a blueprint for reforming LIBOR and other interest rate benchmarks.
February 3, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Saturday, January 26, 2013
Gilson & Gordon On Activist Investors
The Agency Costs of Agency Capitalism: Activist Investors and the Revaluation of Governance Rights, by Ronald J. Gilson, Stanford Law School; Columbia Law School, and Jeffrey N. Gordon, Columbia Law School; European Corporate Governance Institute (ECGI), was recently posted on SSRN. Here is the abstract:
Equity ownership in the United States no longer reflects the dispersed share ownership of the canonical Berle-Means firm. Instead, we observe the reconcentration of ownership in the hands of institutional investment intermediaries, which gives rise to what we call "the agency costs of agency capitalism." This ownership change has occurred because of (i) political decisions to privatize the provision of retirement savings and to require funding of such provision and (ii) capital market developments that favor investment intermediaries offering low cost diversified investment vehicles. A new set of agency costs arise because in addition to divergence between the interests of record owners and the firm's managers, there is divergence between the interests of record owners – the institutional investors – and the beneficial owners of those institutional stakes. The business model of key investment intermediaries like mutual funds, which focus on increasing assets under management through superior relative performance, undermines their incentive and competence to engage in active monitoring of portfolio company performance. Such investors will be "rationally reticent" – willing to respond to governance proposals but not to propose them. We posit that shareholder activists should be seen as playing a specialized capital market role of setting up intervention proposals for resolution by institutional investors. The effect is to potentiate institutional investor voice, to increase the value of the vote, and thereby to reduce the agency costs we have identified. We therefore argue against recent proposed regulatory changes that would undercut shareholder activists' economic incentives by making it harder to assemble a meaningful toe-hold position in a potential target.
January 26, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Friday, January 25, 2013
Wrona on Standards of Conduct for Investment Advisers and Broker-Dealers
January 25, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Sunday, January 20, 2013
Sjostrom on Private Placement Regulation
Rebalancing Private Placement Regulation, by William K. Sjostrom Jr., University of Arizona - James E. Rogers College of Law, was recently posted on SSRN. Here is the abstract:
The Article examines the investor protection/capital formation balance with respect to private placements of securities. Specifically, it details various rule changes that were implemented over the years to enhance capital formation and other events that have occurred over the same timeframe that have weakened investor protection. The Article submits that the latest round of capital formation enhancements has tilted the balance too far in favor of capital formation and away from investor protection, especially given the size of the private placement market today. Hence, the Article puts forth a proposal for strengthening private placement investor protection. The proposal is meant to serve as a starting point for debate if policy makers conclude rebalancing is needed.
January 20, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Colesanti on Rajaratnam Conviction
Wall Street as Yossarian: The Other Effects of the Rajaratnam Insider Trading Conviction, by Scott Colesanti, Hofstra University - Maurice A. Deane School of Law, was recently posted on SSRN. Here is the abstract:
Without warning, the patient sat up in bed and shouted, 'I see everything twice!'
And thus Yossarian, the war-weary bomber pilot of the masterful novel, Catch-22, was able to malinger in an Italian hospital even longer while nervous doctors attended to the strange malady of his neighbor.
The storied literary diversion may highlight the good fortune of those evading government prosecution of financial crimes in 2011, a year that fulfilled the promise that observers of hedge fund discipline would similarly see things twice. To wit, in May 2011, a Manhattan jury convicted billionaire hedge fund entrepreneur Raj Rajaratnam of fourteen counts of conspiracy and securities fraud. Chief among these convictions was the crime of insider trading. The case punctuated two years of criminal actions based upon insider trading allegations by the U.S. Attorney for the Southern District of New York, who had called Rajaratnam "the modern face of illegal insider trading." Perhaps more significantly, five months later, Judge Richard J. Holwell sentenced Rajaratnam to eleven years in prison, in handing down the harshest sentence ever in such a case.
The Rajaratnam trial was the climax to a prolonged investigation that resulted in the conviction of over two dozen hedge fund workers and public company/financial firm employees for their roles in a $50 million scheme. The case also emphasized the unforgiving nature of securities fraud accusations where those who should know better (for example, attorneys) were concerned, as lawyers ensnared in the net cast at the fallen Galleon Management, LP ("Galleon") received consistently glaring prison sentences. Further, the Rajaratnam conviction seemingly reverberated through the courts, leading to strict interpretations of procedural rules attending unrelated insider trading cases
But the celebrated conviction failed to end the parallel U.S. Securities and Exchange Commission (the "SEC" or the "Commission") investigation, litigation, or its pursuit of both fine and disgorgement. Thus, while commentators accurately noted that the use of Department of Justice ("DOJ") wiretaps changed the nature of both the game and the results for Wall Street's illegal players, receiving less attention is the delaying effect the trial had — both on clarifying insider trading law and questioning the unchecked use of government resources. While no one could quibble with the efficiency of the DOJ's results, this Article seeks to reveal their equally significant effects on the government's ongoing crusade against insider trading. Born via an administrative decision, decades after the adoption of the securities laws themselves, the uniquely American insider trading prohibition (and the attendant efforts of its chief enforcer) became perhaps a little more unique and problematic with the U.S. Attorney's 2011 conviction of Rajaratnam.
January 20, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)
Strine et alia on Putting Stockholders First
Putting Stockholders First, Not the First-Filed Complaint, by Leo E. Strine Jr., Government of the State of Delaware - Court of Chancery; Lawrence A. Hamermesh, Widener University School of Law; Matthew Jennejohn, Shearman & Sterling LLP, was recently posted on SSRN. Here is the abstract:
The prevalence of settlements in class and derivative litigation challenging mergers and acquisitions in which the only payment is to plaintiffs' attorneys suggests potential systemic dysfunction arising from the increased frequency of parallel litigation in multiple state courts. After examining possible explanations for that dysfunction, and the historical development of doctrines limiting parallel state court litigation — the doctrine of forum non conveniens and the "first-filed" doctrine — this article suggests that those doctrines should be revised to better address shareholder class and derivative litigation. Revisions to the doctrine of forum non conveniens should continue the historical trend, deemphasizing fortuitous and increasingly irrelevant geographic considerations, and should place greater emphasis on voluntary choice of law and the development of precedential guidance by the courts of the state responsible for supplying the chosen law. The "first-filed" rule should be replaced in shareholder representative litigation by meaningful consideration of affected parties' interests and judicial efficiency.
January 20, 2013 in Law Review Articles | Permalink | Comments (0) | TrackBack (0)


text:
You can't get Pliny the Elder in Phoenix. Let's just begin with that truism, since it'll be far easier to explain why not if you aren't spending this whole article wondering about the local availability of the country's most sought-after beer. Ditto The Alchemist and their double IPA, Heady Topper. And anything from Hill Farmstead, Jester King, Kuhnhenn, Surly, Three Floyds or Cigar City. You won't find any beers from any of these breweries for sale in Arizona. Not legally, anyway.
The reason has to do with the Three-Tier System, part of the law governing the sale and distribution of alcohol in the U.S. The regulation was put in place in 1933 as a portion of the 21st Amendment -- the one that repealed Prohibition.
See also: Chow Bella's 10 Best Beers of 2014
In the years before Prohibition, the beer industry was booming. The number of breweries in operation in our country was higher than at any time in history (in fact, only this past year did we return to our pre-Prohibition level of brewers.) The early 1900s saw the growth of the "tied house" -- a bar owned, in part or whole, by a brewery. In the tied house relationship, brewers would furnish bars with equipment and supplies and offer rebates or discounts on beer; in exchange, the bar was expected to push the brewery's product, or even carry it exclusively. The cutthroat competition for control of taverns by breweries led, at least in part, to the establishment of Prohibition in 1919.
When the law was repealed 14 years later, the authors of the 21st Amendment included a regulatory scheme known as the Three-Tier System, which separated brewers from retailers by placing a third party -- distributors -- between them. According to the law, brewers wishing to see their product in a bar, restaurant or liquor store would first have to sell it to a distributor, who could then sell it to retailers. This separation would limit tied-house abuses and encourage moderate alcohol consumption -- while generating additional tax revenue for the government, of course.
What this means for the modern drinker: You can't get every beer in every state. Many different distribution companies operate within different territories, and to send their beer to a new state, a brewery must first sign a long-term contract with a distributor, which can be a barrier for a brewer's entry into some markets. Also, many breweries simply don't make enough product to send countrywide. Your favorite small, local brewery from another state? Probably not available here.
Here's a list of the most-requested breweries that don't currently distribute to Arizona:
- 21st Amendment Brewery
- Allagash Brewing Co.
- Alpine Beer Co.
- Brooklyn Brewery
- Cascade Brewing
- Cigar City Brewing.
- Flying Dog Brewery
- Funky Buddha Brewery
- Great Lakes Brewing Co.
- Hair of the Dog Brewing Co.
- Harpoon Brewery
- Hill Farmstead Brewery
- Jester King Brewery
- Kern River Brewing Co.
- Kuhnhenn Brewing Co.
- La Cumbre Brewing Co.
- Lawson's Finest Liquids
- New Glarus Brewing Co.
- Revolution Brewing Co.
- Russian River Brewing Co.
- Sixpoint Brewery
- Surly Brewing Co.
- SweetWater Brewing Co.
- Three Floyds Brewing Co.
- Toppling Goliath Brewing Co.
- Westbrook Brewing Co.
- Yuengling Brewery
If you like this story, consider signing up for our email newsletters.
You have successfully signed up for your selected newsletter(s) - please keep an eye on your mailbox, we're movin' in!
Now, that's not to say some of these breweries will never be available in our fair state. Many new beers entered the Arizona market in 2014, and more are sure to come this year. But for now, any beer from the breweries above will have to be procured through, shall we say, extra-legal means. That said, if you do happen to get your hands on a beer that's not distributed here, don't bring it into a bar. Unless your favorite watering hole has a BYO license (which it almost certainly doesn't), the liquor board can fine the owners up to $1,500 for each product on premise not purchased through one of the state's distributors.
The Three-Tier System and the limits it puts on your ability to obtain craft beer from across the country can be an annoyance, surely, but as the number of breweries available within our state continues to expand, it's becoming less of a problem. The aforementioned Pliny the Elder is currently distributed to just four states: California, Oregon, Colorado, and Pennsylvania. Enjoy trying it when you travel, but don't worry about it too much when you're home -- there are many examples of the style you can get here that taste much better.
Zach Fowle is a BJCP-recognized beer judge and a Certified Cicerone. He works at World of Beer in Tempe.

subset: commoncrawl


text:
The concept of a one-person show seems a bit conceited, especially when it's based on the exploits or adventures of someone not quite so well-known. Lauren Weedman's Bust totally blows that concept out of the water. Funnywoman Weedman brought the story of her time volunteering at a women's prison in L.A. to the BCT stage earlier this year. For almost an hour-and-a half, audience members were totally engrossed in this woman's portrayal of people who had such an effect on her life.
Comments are closed.
© 2020 Boise Weekly


text:
2d ed Business Basics for the Successful Commercial Photographer
Paperback, 144 Pages
List Price: $29.97
Price: $22.48
You Save: $7.49 ( 25% )
Prints in 3-5 business days
What do I charge? Why is copyright important? What do I need to do to start my photo business? These and other questions are answered by consultant Leslie Burns, in this easy to understand overview of the commercial photography business. In her usual straight-forward, humorous manner, Leslie will guide you through the icky business side of your commercial photography business. Filled with real world solutions and tricks to make the not-so-fun stuff get done, this basic guide is perfect for students, new businesspeople, and even the "old dogs" can learn some tricks.
Ratings & ReviewsLog in to review this item
There are no reviews for the current version of this product
There are no reviews for previous versions of this product
Product Details
- 9780557565313
- Copyright
- Leslie Burns (Standard Copyright License)
- Edition
- Second Edition
- Published
- August 18, 2010
- Language
- English
- Pages
- 144
- Binding
- Perfect-bound Paperback
- Interior Ink
- Black & white
- Weight
- 0.59 lbs.
- Dimensions (inches)
- 6 wide x 9 tall
- Product ID
- 12188997
Your notification has been sent
Lulu Staff has been notified of a possible violation of the terms of our Membership Agreement. Our agents will determine if the content reported is inappropriate or not based on the guidelines provided and will then take action where needed.
Thank you for notifying us. We will email you with the results and/or actions taken as a result of the investigation if you chose to receive confirmation.
We were unable to complete your request.
We were unable to complete your request.
Listed In
More From
Age Verification
The page you are attempting to access contains content that is not intended for underage readers.
Please verify your birth date to continue.


text:
Wisconsin not leaving any federal funds on the table by rejecting Obamacare expansion of Medicaid, Scott Walker administration official says
Gov. Scott Walker announced in February 2013 that Wisconsin would refuse what has been portrayed as a financial windfall for state governments -- an expansion of Medicaid under Obamacare that would be financed almost completely with federal funds.
Democrats have ripped the Republican governor, with some citing estimates that his proposed alternative will cost Wisconsin state taxpayers hundreds of millions of dollars.
Yet four months after the announcement, Walker's secretary of health services, Kitty Rhoades, painted a different financial picture.
Many people had said, "Why did you walk away from all of the money on the table?" the former GOP state lawmaker told a business-sponsored health care seminar in Madison on June 6, 2013. "Which is a line that just drives me insane."
Later in the speech, Rhoades added:
"We believe and we know that based off of our modeling, we're not walking away from a dime. We actually will have more federal dollars flowing through the state of Wisconsin than we would have had by taking the enhanced rate of including people of 133 percent of federal poverty level into Medicaid."
So, despite estimates that state government is losing out on hundreds of millions of dollars, is it the case that ""we're not walking away from a dime" in federal funds?
The wording of Rhoades' claim is key.
Medicaid and its expansion
Medicaid, a federal- and state-run health care program for the poor, serves more than 1.1 million people in the Badger State. Federal taxpayers pick up about 60 percent of the cost in Wisconsin. But President Barack Obama's Affordable Care Act offers an even larger share of federal funding if states make more people eligible for Medicaid, starting in 2014.
From 2014 through 2016, Uncle Sam would pay 100 percent of the cost of expanding Medicaid coverage for adults with incomes up to 133 percent of the federal poverty level. For an individual, that means an income of $15,282; for a family of four, it's $31,322. After 2016, the federal share would gradually decline until it reaches 90 percent in 2020, with the states picking up the remaining cost.
That gives the appearance of a lot of federal money going to state governments.
And indeed, that's what the experts say will happen.
The number crunchers
Walker himself has acknowledged the federal government is offering more money to states that do the Obamacare Medicaid expansion. But he says that because of the federal budget deficit, he believes the federal government won't follow through on the promised funds.
That, of course, remains to be seen.
What is clear from budget experts is the State of Wisconsin is, in fact, giving up federal funds by declining the Medicaid expansion. (Although, with the state budget due to be adopted in a matter of days, the top Democrat in the state Senate held out hope that a compromise might be reached to at least give the Obamacare Medicaid expansion a try.)
A week before Rhoades' speech, the nonpartisan Legislative Fiscal Bureau, which both political parties have long cited as a neutral scorekeeper on budget matters, weighed in.
For the 2013-2015 state budget, currently being debated in the Legislature, opting out of the Obamacare Medicaid expansion would cost state taxpayers $119 million, the fiscal bureau estimated.
The total could exceed $459 million through 2021, the bureau said.
Similar findings were produced a few days later by RAND Corp., a California-based independent think tank.
According to its study (subscription required), Wisconsin and 13 other states that said, as of late April 2013, they won't do the Obamacare Medicaid expansion, would forgo $8.4 billion per year in federal payments.
So, what is Rhoades talking about?
Rhoades' evidence
Her spokeswoman, Stephanie Smiley, said Rhoades doesn't dispute the fiscal bureau's estimates of state government losing out on hundreds of millions of dollars by not expanding Medicaid through Obamacare.
Rhoades instead cites a different flow of federal funds. She argues that under Walker's alternative, even more federal money will come to Wisconsin -- but to health insurance companies and health care providers, rather than state coffers.
Walker's plan expands Medicaid eligibility to people with incomes at 100 percent of the poverty level, but not to 133 percent, as Obamacare would do. Under the governor's plan, people with incomes between 100 and 133 percent of poverty would get health coverage from private insurers through "exchanges," another feature of Obamacare.
Citing the fiscal bureau report, Rhoades notes the federal government would give the state a total of $489 million during the 2013-2015 budget cycle if it agreed to the Obamacare Medicaid expansion.
But she contends that "modeling" done by her department -- not the fiscal bureau -- projects that under Walker's alternative, $776 million to $784 million in federal money would flow into Wisconsin during that period. It would subsidize premiums and health care for people who go into the exchanges.
The problem here is that the fiscal bureau can make solid estimates knowing how many people would be eligible for Medicaid under Obamacare. But the Department of Health Services has to guess how many people will buy insurance through the exchanges and thus bring federal dollars into Wisconsin.
That's a difficult calculation, given that the fiscal bureau has determined many people eligible for coverage through the exchanges will decide they can't afford it. In fact, the fiscal bureau has said the Walker administration is "unreasonably optimistic" on the question.
So, it's unclear whether Walker's plan will result in more federal money coming to Wisconsin insurers and health care providers than would be paid to the state under the Obamacare expansion of Medicaid.
What is clear, is Walker's alternative to the Obamacare Medicaid expansion comes at a cost to state taxpayers of $119 million in 2013-2015 alone -- which is the criticism Rhoades was trying to refute.
Our rating
Responding to criticism that state taxpayers are taking a financial hit because Walker chose not to expand Medicaid through Obamacare, Rhoades claimed "we're not walking away from a dime" in federal funds.
There's an element of truth in her claim, in that under Walker's alternative plan, some level of federal funds will flow to Wisconsin insurers and health care providers based on the number of people who choose to buy health insurance through Obamacare exchanges.
But the criticism focused on the impact on state government by not taking the Obamacare offer -- $119 million just in the next two years, a figure Rhoades doesn't dispute. Because of that, we rate her claim Mostly False.


text:
When doing astrometry, you are measuring an object's position in the sky. Since the targets that I'm interested in are always moving (asteroids), the position changes with time. By reporting these positions accurately to the International Astronomical Union's Minor Planet Center (IAU-MPC site), they can verify and correct the orbital elements they have to predict future asteroid positions (which is useful, since this helps NASA and other agencies plan the paths of their spacecraft sent to them for exploration for example, or determine if we need to send Bruce Willis in space!
Here are the steps (there are many, I'll break them into multiple pages when I have more time!) that I go through to collect astrometric data for asteroids.
Back home


text:
News Hub: Buffett Looking for Next Big Deal
Warren Buffett says he's ready to start doing big deals again. Dennis Berman looks at some possible acquisition targets.
This transcript has been automatically generated and may not be 100% accurate.
GB's ... one white ... when I was a lot of money in running a hole in the fourth is that it's not may ... I now know what I did anyway ... enter to win a new small ... lot to Number three Last was among the original ought to ... know the answer you get is that the start-up that was one of up ... to thirty billion dollars in cash ... basically unlimited equity issuance capacity in the flow from its insurance businesses of sixty six million dollars so ... the question you mean by aliens ... its ability to the question becomes Simon what's he going to buy the what's what's on my column the game ... this is the publisher of The on the use of the road ... I ... make some suggestions ... in part for my reporting and some screening criterion he isn't so ... at the top of the last twenty five billion dollars give or take ... Illinois Tool Works ... probably covering on people have heard about the care much about it ... but it's a half acres of twenty five billion dollars come in to make all sorts of ... industrial products on says the high-speed steals and and then cutting blades made slight all the little things that go ... back and forth that that that made our physical world Illinois Tool Works probably has a role ... none of testing ... company that became come into money ... is an ATP the paycheck processing company but right now and ... eventually everyone then everybody's point getting its market cap pay ... a high barrier to entry are buried ... in depth customer base ... and great margins in the business ... even though it seems quite simple and to cook Opel they have gross margins of fifty three percent of the easy to work with one of the from a number of counties and was the payoff very easy to work with us of what and why so that's right one yet so lot they're one ... of sputters International again ... when these obscure properties ... ever heard of is based in Washington that the ten billion dollar company to Logistics the firm that handles a lot of the global trade between each of us ... I would make a profit company to grow its northern ... which one Buffett bought to T Ziobro is to thirty six thousand to four billion now some ice and a lot smaller than the market was just a drizzle you read it I tried to as buffer themselves says he's got an itchy trigger finger in the one single peaking and so we bought ice cream provided a a gallery of the sport and the Easy give you a commission ... maybe maybe not anyway thank you much done as well as all the Wall Street job


text: The HP 10BII+ business calculator has an algebraic entry system and a logical and intuitive keyboard layout with easy-to-read labels. The LCD screen features up to 12 characters on one line of text. Small and sturdy, this calculator is easy to slip into your backpack or briefcase and bring to class or your workplace.


text:
ปั๊มน้ำกลายเป็นสิ่งที่เรียกว่าแทบจะขาดไม่ได้ในหลากหลายครัวเรือน เพราะใคร ๆ ก็ไม่อยากเจอปัญหาอาบน้ำอยู่ดี ๆ แล้วน้ำหยุดไหลหรือไหลอ่อน หรือชักโครกกดน้ำไม่ลงเพราะน้ำไหลอ่อนแน่ ๆ นอกจากครัวเรือนแล้ว ในหมู่เจ้าของกิจการที่เป็นเจ้าของโรงงานอุตสาหกรรมทั้งเล็กและใหญ่ต่างจำเป็นต้องใช้ปั๊ม น้ำเพื่อให้แน่ใจได้ว่าจะไม่มีปัญหาน้ำไม่ไหลมารบกวนการทำงานได้ หลายคนคงรู้จักวิธีเลือกซื้อปั๊มน้ำที่เหมาะสมกับการใช้งานของครัวเรือนหรือกิจการโรงงานหรือธุรกิจต่าง ๆ ของตนเอง แต่ว่าปั๊มน้ำที่คุณเลือกมานั้นจะประหยัดพลังงานและไม่กินไฟถล่มทลายหรือไม่ เรามาดูกันว่าจะมีเทคนิคอะไรบ้างในการเลือกติดตั้งปั๊มน้ำให้เหมาะสมกับการใช้งานและช่วยประหยัดพลังงานด้วย
สิ่งที่ทุกคนควรรู้เลยก็คือ ควรเลือกติดตั้งปั๊มน้ำขนาดที่ไม่ใหญ่เกินไปจำนวนหลายตัวดีกว่าใช้ปั๊มน้ำไซส์บึ้มตัวเดียวเดี่ยวโดด เหตุผลแรกเลยคือถ้าปั๊มตัวนั้นมีอันต้องเสียหรือขัดข้องไปแล้ว ทั้งครัวเรือนหรืออาคารก็จะมีปัญหาการใช้น้ำ เดือดร้อนกันทั้งบ้านแน่นอน ในขณะที่การเลือกปั๊มขนาดเล็กกว่าหลาย ๆ ตัวย่อมมีประโยชน์ตรงที่หากปั๊มเสียไปสักตัว ก็ยังมีปั๊มตัวอื่น ๆ ช่วยทำงานแก้ขัดไปก่อนได้ ทำให้การใช้งานไม่หยุดชะงัก โดยเฉพาะการใช้งานในด้านอุตสาหกรรมหรือเพื่อธุรกิจที่ต้องมีการใช้น้ำต่อเนื่องที่ต้องอาศัยการทำงานของปั๊มที่ไม่หยุดชะงัก หากมีปั๊มเสียไปและรอการซ่อมบำรุงก็ยังมีน้ำใช้ แม้น้ำที่ได้จะไม่แรงเท่าตอนที่ปั๊มทุกตัวใช้งานได้ตามปกติ แต่ก็ยังดีกว่าไม่มีเลย นอกจากนี้ การติดตั้งปั๊มตัวใหญ่ ๆ ยังอาจจะไม่เหมาะกับอาคารหรือบ้านที่มีพื้นที่จำกัด เพราะจะทำให้การติดตั้งและเข้าไปทำการซ่อมแซมเป็นเรื่องยาก เพราะพื้นที่น้อย ช่างเข้าไปทำงานไม่ถนัด นอกจากนี้ก่อนจะเลือกจุดติดตั้ง ควรพิจารณาถึงการใช้งานจริง ว่ามีการใช้งานกี่จุด ตรงไหนบ้าง และเลือกจุดติดตั้งให้เหมาะสม และจะให้ดี การเลือกใช้ระบบปรับความเร็วรอบจะช่วยเซฟค่าไฟได้มากกว่าการปิดวาล์ว
สำหรับบ้านพักอาศัยทั่วไป ปั๊มที่นิยมใช้กันคือพวกปั๊มสำเร็จรูปที่ติดตั้งง่าย ประกอบด้วยปั๊มและถังความดันควบคุมด้วยสวิทซ์ที่ทำงานทันทีเมื่อกดเปิดใช้งานและหยุดการทำงานเมื่อไม่มีการใช้น้ำในบ้าน การเลือกใช้ต้องเลือกให้เหมาะกับขนาดและจำนวนคนอยู่อาศัยที่มีผลต่อปริมาณการใช้น้ำ เพราะปั๊มประเภทนี้มีขนาดไม่ใหญ่มาก หากใช้งานโอเวอร์โหลดก็จะเสื่อมสภาพเร็วเกินกว่าที่ควร
If you are like any other seasoned office professional, you have probably lost count of the number of times that you have used a photocopier. However, for any photocopier to offer the kind of quality service you desire without breaking down, it needs excellent maintenance services. On the other hand, if the copier is not taken good care of, it is bound to require frequent photocopier repairs. How can you avoid spending much on repairs?
Photocopier Maintenance
This is the unit that connects the toner to the paper. It consists of two parallel rollers with the upper one having a silicon coating that is non-stick. The lower roller is made of a soft silicon rubber. It should be cleaned on a regular basis using a soft cloth by applying silicon oil. After wiping the fuser, you should then dry it using a different piece of clean cloth.
This is an aluminum cylinder that is coated with a light sensitive (photoconductive) film. In simple terms, it is where the paper and toner attaches to the copier. Cleaning it efficiently requires either a rubber or plastic blade (Mylar bar). When cleaning, you have to ensure that all the excess toner is removed and none is left stuck on the photocopier's drum.
This is a powder that consists of dye colored plastic that is finely grounded. When heated, the powder is what becomes the ink that is printed on the paper. A developer is also part of the toner. It is just a metallic chemical that is also finely ground. The toner is flawlessly cleaned by using a special vacuum toner that is meant for a copier machine. To avoid hindering printing quality, ink flow, and frequent copier repair, try cleaning it on a regular basis.
The toner usually runs out after some time depending on the copier's usage. With this, it is imperative to change/replace it in due course. As soon as there is an indication that the toner needs to be changed, do it immediately. Otherwise, getting fast Toshiba photocopier repairs will be the order of the day. Here is a little help on how to go about changing the toner.
• Open the processing unit cover
• Remove the existing toner container
• Shake the new toner thoroughly
• Replace it with the fresh toner container
• Replace the photocopier's machine unit
• Close the covers correctly
Clean the scanner using an anti-static cleaning liquid. Wipe its surface using a clean cloth first, then clean it using the cleaner liquid and then use a clean, dry cloth to clean a third time. It is advisable to clean the scanner every time to maintain the quality of copies being produced. Read more at Printer repairs
Other components that you will need to ensure that are clean all the time to avoid frequent repairs include:
• Paper Cassette/Paper tray
• Paper feed
• Corona (both charge and transfer)
• Inbuilt cleaning unit
Once in a while, the photocopier will need servicing so as not to require fast Toshiba photocopier repairs frequently. Get the services of a reliable Toshiba repair centre that offers tune-up options as well. You can get dependable ones by researching on the internet, getting referrals from previous customers, reading reviews, and having one-on-one interviews with a number of companies.
Wear and Tear
Conversely, after using your copier, it may need fast Toshiba photocopier repairs due to the usual wear that can happen to any given product that has been in service for some time. When this occurs, ensure that you hire the services of a reputable Toshiba copier repair company that will fix the machine. For more details please visit this site http://printer-repairs.com.au/toshiba-photocopier-repairs/
Driveways play an essential part in any home. They help to enhance the value of a home by availing off-street parking and when constructed well, even its curb appeal. In addition, they provide some place for playing different games, such as basketball, roller skating and others. A majority of homes have concrete and asphalt or bitumen driveways since these materials are fairly durable and cost-effective.
The Asphalt paving services Melbourne firms provide are one of the more durable and cost-effective that eco-conscious clients can utilize for their driveways. Durability is among the main considerations that homeowners have for not selecting concrete. The difference present in the two materials results from their construction form. Concrete comprises of cement, water and sand or aggregate like crushed rock. Cement binds the mixture that dries into some stiff mass, which is susceptible to cracking if the surface underneath is not smooth. Asphalt paving is a flexible alternative that accommodates surface imperfections while still remaining durable and extremely hard. This material is constructed using a binder of bitumen, which is a crude oil derivative that binds the aggregate. The resultant mixture is applied hot then pressed into place. The asphalt paving produces durable bitumen driveways. Apart from being less likely to crack, these have lower vulnerability to flaking or spalling that is occasioned by poor installation or application of salts used for melting ice during winter. As well, it is important noting that concrete has higher susceptibility to weathering and staining action.
Lower Ownership Costs
Lower costs of ownership are yet another reason of opting for asphalt paving. The material costs much less to both install and maintain for the entire driveway-life. Installation takes between one and two days, with the driveway being ready for use in just about two days following its completion. Maintaining this type of surface also gets easier and cheaper. Application of sealant should be made for each period of between three and five years, which prolongs the driveway-life. As well, cracks can get repaired easily using a kit sourced from a home improvement store. Undertaking proper maintenance of the Driveway Asphalting Melbourne companies install can for instance make the surface to last for thirty years or even longer. By contrast, installing concrete takes much longer and its usability could require up to a week. Costs of concrete can also spiral upwards if a homeowner desires creating a custom pattern, color or finish. Check out http://www.asphaltmelbourne.com.au/asphalt-driveways-melbourne
Making asphalt Carparks is also a better choice too for instance, for eco-conscious homeowners, since they can be fully recycled. Nearly 80 percent of the material gets recycled when removed, which is more frequently than plastic or paper. The aggregate can additionally be made using recycled glass, glass, slag, foundry sand, shingles, pavement and pig manure. Utilizing these materials could save homeowners numerous cubic yards of landfill space annually. As well, making use of reclaimed products minimizes the need for employing virgin binder. The action allows this material to be utilized at lower temperatures, reducing energy demands as well as emissions.
Homeowners should consider the various benefits that come with making bitumen driveways using asphalt.
Storage units are great for storing things that we might not necessarily use every day, but that we want to hang on to and protect. Maybe you live in a suburban Australian home and you've got a classic car you need to store somewhere in the winter time. Or perhaps you park your RV there when camping season is over. For folks who are getting ready to move across the country, finding self storage facilities in Perth like Perth Metro Storage ahead of time can be quite a tall task. Also, if you're from out of town, you don't know where anything is yet and you certainly don't have time to sit on the phone calling on all the units for self storage in Perth when you should be busy unpacking your things and trying to get settled in. Fortunately, there is a much easier way – online researching.
This article tackles all about the benefits of self storage facilities and how you can find one you can trust online.
Benefits of Renting Storage Units
How to Find Self Storage Facilities Online
You should always take advantage of online technology that's available to you as a consumer. You can get quotes on storage units like Perth Metro Storage or anywhere in your locality and save money on the cost of storing your things. Use online websites to locate facilities to store your belongings before you even hit the road to leave town. Find all of the units in the area you'll be heading to and get your specific questions about storage units answered so that you have a complete rundown.
Here are some tips on how you can find the perfect self storage facilities Perth has today like Perth Metro Storage for your storage needs:
· Save time versus trying to find phone numbers or websites for individual storage units and communicating with them on a one on one basis.
· Some folks actually use free online service to locate storage units in their own home area. There is no rule limiting usage to cross country inquiries. This is done very easily by merely doing a search based on the zip code you enter.
· You can also message the administrators of the website to get access to pricing and availability information for individual facilities in the area. You can view listings of bays or parking spots that are available and see how much they cost and get all set up with the one that meets your needs and fits your budget.
· You can help the staff get more information about your desired rental expectations and get at least a little more organized so that when you arrive at the storage destination everything will be ready for you.
More details here:
Business Name: Perth Metro Storage Name: Perth Metro Storage Address: 5 Park Pl, Bibra Lake WA 6163 Contact Name: Michael Phone: (08) 9418 4205 Logo URL: http://perthmetrostorage.com.au/wp-content/uploads/2015/05/logo.png Tagline: Perth Metro Storage is a large self storage facility offering storage solutions for from normal household items, caravans, boats and cars to office equipment and documents. Trading Hours: Mon - Fri 8am - 5pm. Sat 9am to 2pm Trading Days: monday to saturday
There are a lot of reasons why many people opt to hire a self-storage facility for their personal belongings, as well as their goods for trading. One of the major reasons is security. Another is orderliness. The reasons vary from one person to another. In Australia, choosing a storage facility greatly differ from one person's need. Some prefer renting a space in the city, while some prefer renting in the suburbs such as the West Melbourne self storage.
No matter what your purpose for getting a space to store your valuables, there are important things that you must put into consideration.
In big cities like Melbourne, fees are always higher compared to the rural and suburban areas. Evaluating the kind of inventory that you have, as well as how frequent you need to visit your self-storage facility is helpful enough to help you determine the location that you want your storage space to be. Whether you'll go for a Spotswood self storage or other West Melbourne self storage facilities, it's up to you. Just make sure to research first.
Storage facilities vary in the opening and closing schedule and the overall rules in accessibility. So, it is very crucial that you need to know the rules implemented by the manager before asking for a quotation.
Whether you are looking for a self-storage for your trading goods or for your personal belongings, taking a good look at the facility can save you from a lot of trouble. If you are considering hiring a self-storage facility in the suburbs, just like the personal storage places Fitzroy has, it is always best to know your storage options before signing an agreement.
Aside from getting an insurance policy for your valuables in storage, you must also consider the terms that the lessor offers. Be sure to check the levels of security they can guarantee. Check if they complied with a strict security standard, if they have installed security cameras, and if they have employed well-trained security personnel.
Once you have evaluated all the necessary things that you need to know from a storage firm, the price quotation is the next big thing that you must take into consideration. Finding a cheap storage firm that offers quality is sometimes a matter of luck. However, if you are clever enough to negotiate, landing on the best facility can be as easy as pie. Simply consider asking promotional discounts. Who knows? You can find the right person to deal business with!
Pick the One That Can Be Trusted
Finding the right West Melbourne self storage can be tricky. However, if you want a self-storage facility that ensures quality, security, and flexibility, visit the Public Self Storage and find out more about their storage services.
Efficient logistic service is one of the critical requirements for successful trade and commerce vis-à-vis industrial growth. For example, in Australia, logistic services have become one of the fast growing business sectors. This sector employs about 1.2 million people and the value of business turned out is estimated to be about Australian $131.6 billion, which represents about 8.6% of Australia's GDP. At the same time, Australia has witnessed a considerable increase in the demand for logistic services. In order to meet this growing demand mostly every transport company Perth market has today has introduced a diversified fleet of vehicles.
A dedicated fleet of vehicles:
Efficient logistic service is a combination of good quality roads and a fleet of good quality vehicles. Further, the type of vehicles must cater to the needs of diversified industrial and business activities. For example, the industries in Australia require dedicated transport service for the movement of materials like liquefied natural gas (LNG), machineries, coal, iron ore, agricultural products and so on. Therefore, the transport company Perth based should be capable of providing a dedicated fleet of vehicles capable of transporting any given product.
Economical logistic service:
Industries and business enterprises are entirely dependent on efficient services of transport companies because this service has turned out to be quite economical and also dependable. Further, the logistic service is capable of reaching the clients located even in the remote corners. This underlines the versatility of road transport company Perth has as compared to railway, airways and sea transport.
Logistic service for moving containers:
Australia exports varieties of products to various countries across the globe by the sea route. These goods are transported to the port in containers of different sizes. In fact, there are containers with sizes varying from 6 feet to 40 feet. In fact, some of the containers weigh about 30 feet. The shipping container transport company Perth based should be capable of providing vehicles capable of transporting such huge containers. In fact, Perth container transport company plays a dominant role in the import and export business of Australia.
Dedicated vehicles for manufacturing industries:
Apart from containers, the logistic service is extensively used by various manufacturing industries. Here again the industries require services of dedicated trucks to move the products from one place to another. For example, there are trucks capable of transporting earth moving machineries. In fact, there are dedicated trucks for moving passenger cars. In order to meet the demands of such manufacturing industries, the machinery transport company Perth based will have a fleet of vehicles which are capable of catering to the needs of the manufacturing units.
Modern technology:
Now dedicated logistic services are available for transporting dangerous chemicals. In fact, there are trucks specially designed for carrying such hazardous materials. On the other hand, there are exclusively designed trucks for carrying perishable articles like food products and also medicines. Such trucks will have air-conditioned chambers. Now, the logistic services have adopted the modern technologies like GPS tracking system on their fleet of vehicles. This has enabled the companies as well as their clients to effectively manage the movement of the vehicles on a real-time basis.
Specialized services:
Logistic services like http://www.reefgroup.net.au/ play a unique role in the growth of industrial and business sector. In fact, some of the transport companies offer specialized services in areas like the movement of hazardous chemicals, moving containers and so on.
If there's one thing you have learned about construction industries is that nothing rarely comes as maintenance-free. The foundation under your house, the drainage system right across the street, and even the concrete floor from the road needs maintenance to prevent any serious damage. While concrete floors are easy to maintain, it does need some regular check up once in a while. Best Bar, Australia's leading supplier of a diverse range of reinforcing solutions can help. Reinforcing steel mesh and concrete sealing is their forte, so they know exactly what you need to get the road fixed.
Concrete Floors Supports Everything
Concrete floors are very important when it comes to the foundation of your home or buildings. It is extremely durable and can withstand all sorts of traffic, from vehicles to people. Regardless of the placement or construction, it still needs maintenance to ensure durability and longevity.
How to Make Concrete Floors Last
1. Check for visible signs of damage
Are there cracks, chips, or broken slabs? Get it fixed with help from Best Bar, a company that not only provides a concrete floor sealer but a range of reinforcement and repair solutions as well. Don't wait for small cracks to become expensive problems. At the first sign of damage, have concrete floors fixed right away.
2. Keep floors clean
This may seem like a no-brainer, but many keep cleaning concrete floors as an afterthought. The amount of dirt that accumulates not only hurt the floor but also your health. So show some TLC by using floor detergents or a pressure washer to eliminate dirt. For indoor floors, wash them with a mild cleaner and a mop.
If you don't have the time to clean, book with a cleaning company. Doing so will not only free up your time for something else but also ensures you get exceptionally cleaned floors. Whether you have concrete floors at home or in your business premises, a cleaning company can come to your rescue. They're your ticket to a brand-new looking for without an effort from you.
3. Never use Ammonia to clean concrete floors
Strong bleaching agents, such as Ammonia, can weaken the cement-based composites of your concrete floor and causes it to dissolve over time. There are plenty of cleaning detergents for concrete floors and it is best to always choose a mild one.
4. If major damage has already occurred, call Best Bar.
The service provider can offer you outstanding concrete sealing solutions and services. Whatever you may need in a residential project, commercial sector, or civil projects, they are sure to deliver optimal solutions to suit your needs.
The level of maintenance concrete floors require will depend on several factors. Designs with sawcut patterns, for example, require a degree of work and effort, what with dirt accumulating on the narrow cuts on the surface. Polished concrete floors, on the other hand, requires minimum maintenance, but extra care should be given. So get acquainted with the type of flooring you have and know how to better care for it.
Business Name: Best Bar Name: Best Bar Reinforcements Wangara Address: 100 Callaway St, Wangara WA 6065 Phone: (08) 9303 4950 Logo URL: https://www.bestbar.com.au/wp-content/uploads/2015/09/logo.png Tagline: Best Bar is a leading Australian steel reinforcement supplier Trading Hours: 06:00 - 16:30 Trading Days: Mon-Fri Year Founded: 1995
When lazy dumpers keep on leaving piles of waste and junk scattered on the streets or overflowing the bins, it gives rise to the city or the streets becoming plagued with rubbish. Therefore, more and more awareness is being created about disposing of the rubbish in the proper way. But, again, when people have to carry their own rubbish all the way up to a trash bin, they often find it difficult and forget to take proper safety measures, which results in littering of the rubbish here and there. It is here that comes the importance of professional Melbourne rubbish removal services that can help you get rid of your worries of how to safely dispose of your rubbish or carrying them to the far away trash tips. Let's take a look at some the advantages that you can have by hiring professional help.
Cost Effective
Unlike the common assumption, hiring professional rubbish removal Melbourne services is not at all that expensive. If you have to deal with lots of rubbish from time to time, then the cost of investing in a professional junk removal service will definitely be much lesser than the money that the petrol of your car will chew up, while making so many trips to the landfills and your house.
Time Saving
Do you know that by choosing a professional Melbourne rubbish removal agency, you can save a considerable amount of your time that otherwise gets wasted in the futile attempts of managing your rubbish! Dealing with the household waste can be both time-consuming as well as a painstaking process as you have to collect them first, then sort them accordingly and have to carry all the way to the nearest recycling depot or landfill. But when you hire a professional agency for this job, all you have to do is show them where you keep your rubbish and it will be gone.
Safe Disposal
It's not always possible for you to know which waste is toxic and which one is non-toxic. When you dump the toxic wastes in the landfills or the street bins, it ends up polluting the environment, causing threats to the human health. But when you hire a professional junk removal service for rubbish removal in Melbourne, you don't have to worry about that as the professionals know exactly which one is for recycling and how to deal with the hazardous ones.
Proper Recycling
Opting for a professional and the best Melbourne rubbish removal service also ensures proper removal of the waste. It is not always possible for you to drive to recycling depots and dump your recyclable wastes there. But when you hire a professional, they know how to dispose of the recyclable waste correctly, without letting the landfills become hazardous or causing any threats to the environment.
By hiring professional Melbourne rubbish removal service, you can not only get to save both your time and money, but you can also make a contribution to the environment as the majority of the rubbish is recycled in some way. To know more about rubbish removal, you can visit websites like http://1callrubbishremoval.com.au/ that deal with removing waste in the quickest and safest ways.
Asphalt Pavement starts to deteriorate soon after it is laid down. Lubricants and fuel dissolve it, while water softens it with sunlight accelerating its oxidation, thereby breaking down the binder. You could call in the asphalt contractors Brisbane has available if such a thing happens. The unsealed blacktop could within a period of just fifteen to twenty years lose half its thickness as highlighted below:
You may check for a few signs that would let you know if your parking lot requires immediate professional attention, perhaps by asphalt contractors in Brisbane as follows:
The asphalt surface of your driveway may appear somewhat rough, with the tops of aggregate or rock showing through. Pieces of rock might as well be emanating from within it. All these are indicators of a parking lot that requires sealing and repair. Areas that exhibit excessive roughness will normally require the installation of new asphalt skin patch before seal-coating takes place. The Asphalt Contractors Brisbane has to offer may perform this action for you, which extends the lifespan of the seal-coat upon its application onto the affected areas.
Cracks that appear in asphalt could be due to excess water lying underneath the parking lot or long-term failure to undertake proper seal-coat maintenance. Such areas could be repaired either by rubber crack filling or their removal and subsequent replacement with new asphalt. It all depends upon the severity of the damage, with tree root pressure occasioning cracks eventually.
The striping and stenciling of your parking space may appear worn in some way, with old lines being visible through the old seal-coat. All these show the timing is right to consult with Brisbane Asphalt Contractors for instance for seal coating and re-striping of the parking area. For any parking lot, striping is the part most noticeable and it helps a lot to have it done neatly.
When selecting an asphalt contractor for the project, ensure first asking for references of any previous jobs completed by the professional. It is important following up with such clients to assess their level of satisfaction with the work undertaken. Contractors can differ markedly in their level of performance and excellence in this kind of work.
Ascertain as a rule of thumb that your prospective asphalt contractors Brisbane has, for example, utilizes a 10 percent maximum amount of water for diluting the seal-coat. You should end up getting a thicker coat of sealer this way, which would then last a very long time.
You can find best asphalt contractors in Brisbane today by taking a look at the website link, http://www.blacktopasphalt.com.au/asphalt-contractor-bitumen-pothole-repairs-brisbane/
Backhoes have become a common feature nowadays in nearly every kind of construction job. It is difficult for most people to imagine undertaking any dirt-moving task without doing utilizing one. In general, the backhoe is highly beneficial equipment that makes digging an easier task. It is quite common for a homeowner to buy tractor backhoe that may then be utilized for yard mowing and other kinds of work. That said a majority of individuals seem to prefer using backhoes especially due to their prominence. If planning to order for a new tractor, a backhoe would make some great optional piece of machinery to consider. Following below are a couple of useful tips on digging a hole using a backhoe.
Adhering to Local Industrial Code
The first step to take is to ensure adherence to local regulations concerning the use of industrial equipment. Such action may involve contacting companies in charge of maintaining local infrastructure to obtain information regarding telephone lines, gas lines or other facilities installed within your area of interest. Doing this is a protective measure against conducting unsafe practices and interfering with infrastructure installations. Even the best tractor backhoe could end up causing damages due to ignorance of such regulations.
Establishing Digging Location
After you buy tractor backhoe and ensure abiding with local industrial regulations, the next aspect is determining the location where the hole is to be dug. One should consider the parameters of distance and depth to the farthest edge at bottom of the hole, prior to setting up the backhoe. Besides that, sufficient area is required for making two dirt piles. You would require keeping the top soil for separation in such instances.
Checking Backhoe Stability
The third step is ascertaining the stability of your backhoe. To achieve this, you require turning the bucket upside down, before pressing it into the ground until the tires lift from the ground. One should then set the stabilizers to prevent backhoe from tipping or moving. You can get online and buy tractor backhoe Australia merchants offer today and enjoy using high-quality equipment for digging operations.
Skimming Off Top Soil
The fourth step is skimming off the top soil, after which the pile should be placed next to the hole at one side. Lastly, it is critical focusing on just a single hole-area at a time once you buy tractor backhoe for private or commercial uses. This could assist you to reduce the number of times the arm would require being pulled and might also aid in reducing your consumption of fuel and work time.
You could make your backhoe much better perhaps by investing in many attachments available in the market if only having the regular variety. There are many proficient common attachments for tractor backhoes that are in common use nowadays.
Be sure of finding a generous assortment of attachments and implements on the World Wide Web. You may, for example, take a tour of http://www.agproproducts.com.au/ if looking for a tractor backhoe in Australia or another type of equipment that addresses soil management, lawn care, and farming needs.
When it comes to floor sawing or cutting, there is a wide range of tools to choose from. However, there is probably none as highly recommended by experts on floor sawing WA has as diamond saw. Many experts dub it as a cost-effective and precise concrete cutting tool. If you are currently in need of this service for the residential or commercial site, you need to know why diamond saw is the best tool around and why you must choose it.
What is Diamond Saw?
Dubbed as one of the best methods of floor sawing in WA, diamond floor saws are called as such because the blade for the saw is shaped like a diamond. This blade is attached to a self-propelled cutting machine. This machine can be adjusted to determine the speed at which the blade cuts through the concrete floor and at what depth.
There are several methods to power a diamond saw, which includes petrol, diesel, electric or hydraulic motors. With the diamond blade, the cutting machine can penetrate up to 500 mm in depth. This makes it easy to remove any part of the existing structure that you want to get rid of or has been damaged.
Why Choose Diamond Saw?
As mentioned above, contractors providing WA floor sawing choose diamond saw as their primary option for concrete cutting needs. This type of saw is able to penetrate through various kinds of materials including asphalt, slab, stone, and reinforced concrete. The unique shape of the blade that is attached to the saw is attributed to it being an effective sawing equipment. In fact, it makes it possible for just one man to operate the saw.
These are a few friendly reminders that experts on floor sawing WA has would recommend when handling or using diamond saw:
Whether you choose diamond saw or other types of cutting tools, it is important to hire professionals for the job. With experts working on concrete floor cutting, you can rest assured that the job is done with optimum quality and safety. To find best floor sawing in WA, you can go to http://www.cutwell.com.au/.
One of the key people in the construction of a building is the builder. Builders undertake and oversee a range of activities in a construction project. They are involved in construction of new homes or commercial buildings, alteration of buildings and repair of existing structures. Their work is to plan, organize, direct, control and coordinate the construction, renovation or alteration of buildings as well as the human and physical resources involved in the project. Although most of the skills required of a builder are technical, there are certain soft skills that every builder Wynnum has needs to have in order to be competent in their work. Soft skills are attitudes and personal qualities that help an individual to work well with others and ensure productivity in a project. When hiring a builder, it is important to look out for these skills. They include:
Good communication
Any successful builder Wynnum has will tell you that good communication is their secret weapon. Builders deal with people all the time and therefore should demonstrate excellent communication skills. They should be able to engage co-workers on the site effectively to ensure that duties are carried out well. On the same note, a good builder should come up with the right communication channels to communicate with you so that you are constantly and effectively updated on matter to do with the project.
A builder cannot work efficiently in solo, so go find builder Wynnum has who demonstrates the ability to be part of a team. As a team player, he will not only be expected to cooperate with others but also to compromise with them. When making decisions, he should feel obliged to consult others. Professionals who are seen as team players have the ability to work with different types of personalities.
You wouldn't want to work with a grouch. You want someone who sees the positive side of things and not just the negatives. A positive-minded builder does not point out the mistakes of his laborers but instead shows then the right way to do things. He also recognizes their improvements.
Time management
Every project has a timeframe. You have set a specific time within which the project should be completed. Having a builder with poor time management skills means extending the project and spending more money. Find a builder in Wynnum with a track record of finishing projects within the stipulated timeframe.
Organization skills
Strong organization skills are fundamental in a construction project. The projects are multi-faceted and often involve different processes. It is necessary that a builder stays organized so as to keep track of everything going on in the site. An organized builder is usually keen on details and can accurately account for a variety of factors.
Another desirable trait of a builder is the ability to work independently. Being independent means that the builder is able to decide how best to allocate resources and time in an effective way. It also means that the builder will be able to solve the unique challenges that might arise in the project independently. They handle project matters with minimal oversight. Visit us online at http://www.madisonhomesqld.com.au/builders-wynnum/.
Mac-J-Net VWThemes


text:
All of our mentees are current University of Birmingham students from a range of degree backgrounds, who recognised the value and benefit of alumni guidance during their final year of university.
Below are short profiles on each of our mentees on the Alumni Leadership Mentoring Programme (ALMP).
If you are inspired by any of our current mentees please don't hesitate to apply for the Programme by clicking here!
Mentees for 2016-17
Charles Newman
Mentor: Dr Andrew Vallance-Owen, Former Bupa Group Medical Director
Why ALMP? Leadership development has played a central role in my extra-curricular activities during Medical School thus far. I found my tenure as Birmingham Medical Society President exceptionally useful throughout the British Army Officer selection process, at the end of which I was awarded the prestigious Royal Army Medical Corps Bursary (formerly the RAMC Cadetship).


text:
The British automaker Jaguar, which is known for producing classy cars has now come with a stunning concept called Project 7. The all new Jaguar Project 7 is based on F-type convertible. Project 7 will be the extreme avatar of Jag F-type. This ultra stylish sports car is one of the most popular concepts in the 2013 Goodwood Festival of Speed (FoS).
This two-seater convertible car delivers a maximum power of 650 bhp. Jag Project 7 is honor to Jaguar's seven Le Mans wins. It's a designer's car hence the aesthetics has been well taken care off. This two-seater will be the purest form among all other Jaguar's sports cars. The max speed of this car is 186 mph.
It's a clean looking car that reaches 0-100 kmph in just 4.1 secs. The best thing about this car is its sound and performance, says Mike Cross - Jaguar's lead development driver. Some of the amazing exterior features include refurbished front bumper, fixed rear wing, rear diffuser and lowered windscreen. Jaguar Project 7 along with Jaguar F-type will grab eyeballs in the Goodwood Festival of Speed. This concept racing car will have V8 just like the F-type and will be a four wheel drive.
The Rear mounted fin gives an extra stability to the vehicle. If you are looking for cars that exude class, sophistication and speed, this car will probably blow all your senses. Jaguar Project 7 is hotter than F-type. So, all Lamborghini fans out there, you have a competition now.
Author: Pallav Gogoi


text:
System Restore Guide
If updates go wrong, or after installing a new application/software package, Windows stops working. System Restore can sometimes fix this type of problem very easily!
Click on these links for information on System Restore for Windows XP, Windows Vista, Windows 7 & Windows 10.
General System Restore
Most machines should have system restore functionality already as a default, however, most don't. Those that have a key built in by default have been listed below by manufacturer.
Acer – Alt + F10
Asus – F9
Dell/Alienware – F8
Lenovo – F11
Samsung – F4
Sony – F10
Toshiba – 0 (not numpad) while turning on, release key when Toshiba logo appears
You may have to press the appropriate key a few times to bring up system restore options, those that have Windows 10 installed will automatically have recovery options. If you can access the desktop then simply hold the shift key whilst you press restart and Windows 10 will figure out that you want to access the recovery options.
Otherwise follow the keys for specific manufacturers.
If you have any questions about system restoring your machine, or you simply don't understand how to run through the process. Contact us, and we will give you a helping hand.


text:
- As per previous report published on TITAN, stock gave a sharp up move after breaking its resistance @ 372 and touched it expected target @ 390. (Click here to see previous report published on TITAN).
- As per current technical analysis, stock is facing strong resistance at current levels as shown in chart no1, as long as stock is trading below bears can get active in Titan, but once stock closes above 161.8% fibonacci retracement then further strength is expecting. Chart also indicates volumes are also decreasing indicating bulls are loosing grip.
- Suggested Reading - TATA ELXSI facing golden ratio resistance, will favor bulls once closes above.
- As per graph no2, RSI has now entered in overbought zone, its a sign of caution for bulls, as long as stock trading above 70 chances are high stock can correct.
- Suggested Article - NSE HOLIDAYS 2014.
- If TITAN correct from current levels then stock may find fibonacci retracement support around 377, 365, 356 and 348. Close Watch.
- Click here to see all the free trading reports (tips) published by us on TITAN.
- Tips on Indian stock market.