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Securities Exchange Act of 1934
|Insilco Holding Co.
Incoming letter dated March 12, 2003
Based on the facts presented, the Division will not recommend enforcement action to the Commission if the Company does not file periodic reports under Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, until such time as the liquidation of the Company is completed. In reaching this conclusion, the Division specifically notes the amount of trading in the Company's common stock.
During the pendency of its liquidation proceedings under Chapter 11 of the Bankruptcy Code, the Company will file, under cover of Form 8-K:
At the time the liquidation of the Company is completed, the Company will file:
This position is based on the representations made to the Division in your letter. Any different facts or conditions might require the Division to reach a different conclusion. Further, this response only represents the Division's position on enforcement and does not purport to express any legal conclusion on the question presented.
David C. Lee
Special Counsel
Porter, Wright, Morris & Arthur LLP
Attorneys & Counselors at Law
Robert J. Tannous
41 South High Street
Columbus, Ohio 43215-6194
Facsimile: 614-227-2100
Toll Free: 800-533-2794
March 12, 2003
Via Overnight Mail
Office of Chief Counsel
Division of Corporation Finance
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Request for Modification of Reporting Obligations Under the Securities Exchange Act of 1934 Insilco Holding Co. (Commission File No. 0-24813)
Ladies and Gentlemen:
On behalf of our client, Insilco Holding Co., a Delaware corporation ("Holdings"), we hereby request, based on the facts and circumstances discussed below, that the Staff agree not to recommend enforcement action to the Securities and Exchange Commission (the "Commission"), if Holdings follows the modified reporting procedures set forth herein. Holdings' common stock, $.001 par value ("Common Stock") has been registered under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, as such, Holdings currently is required to file periodic reports under Section 13(a) of Exchange Act.
Based on the Exchange Act Release 9660 (June 30, 1972) (the "Release"), Staff Legal Bulletin No. 2 (April 5, 1997) ("SLB 2") and prior no-action correspondence, in lieu of continuing to file quarterly and annual reports under the Exchange Act, Holdings proposes to file with the Commission, under cover of a Current Report on Form 8-K, copies of the periodic financial reports that are required to be filed with the United States Bankruptcy Court and the United States Trustee pursuant to Bankruptcy Rule 2015 and the United States Trustee's "Operating Guidelines and Financial Reporting Requirements," as well as other material information concerning developments in its bankruptcy proceedings. Holdings will continue to comply with all other requirements of the Exchange Act, including (but not limited to) Section 14A regarding the solicitation of proxies.
As requested by the Staff and for your convenience, this letter replaces in its entirety our letter dated December 20, 2002.
On December 16, 2002 (the "Petition Date"), Holdings filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"), in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"), Case No. 02-13761. Holding's subsidiary Insilco Technologies, Inc., fka Insilco Corporation, ("Insilco") (Case No. 02-13672), and seven of its subsidiaries, Insilco International Holding, Inc., a Delaware corporation ("International") (Case No.
02-13674), Precision Cable Mfg. Co. Inc., a Texas corporation ("PCM") (Case No. 02-13675), Stewart Stamping Corporation, a Delaware corporation ("Stamping") (Case No. 02-13678), InNet Technologies, Inc., a California corporation ("InNet") (Case No. 02-13673), Stewart Connector Systems, Inc., a Pennsylvania corporation ("Connector") (Case No. 02-13679), Eyelets For Industry, Inc., a Connecticut corporation ("EFI") (Case No. 02-13676) and its subsidiary EFI Metal Forming, a Connecticut corporation ("Metal Forming") (Case No. 02-13677), and Signal Transformer Co., Inc., a Delaware corporation ("Signal") (Case No. 02-13681) and its subsidiary Signal Caribe, Inc., a Delaware corporation ("Caribe") (Case No. 02-13680) also filed voluntary petitions for relief under the provision of Chapter 11 of the Bankruptcy Code in the Bankruptcy Court. Holdings, Insilco and the foregoing companies are collectively referred to herein as the "Filing Companies." Pursuant to a Bankruptcy Court order dated December 17, 2002, all eleven cases are being jointly administered under Case No. 02-13672. On or about the Petition Date, the Filing Companies also petitioned for approval of the motion for Asset Purchase Agreements ("Purchase Agreements"), with each of Bel Fuse LTD ("Bel Fuse"), Amphenol Corporation ("Amphenol"), SRDF Acquisition Company, LLC ("SRDF") and LL&R Partnership ("LL&R"), to sell substantially all of the Filing Companies' assets, subject to the receipt of higher bids. In addition, the Filing Companies signed a contract to sell its Ireland-based custom assembly plant to the plant's general manager. The Filing Companies are managing their businesses as debtors-in-possession pursuant to the provisions of the Bankruptcy Code.
Holdings publicly announced the filing of these bankruptcy petitions and motion on the Purchase Agreements in a press release dated December 16, 2002. Holdings also publicly announced that the Bankruptcy Court granted the initial requests under the first day motions in a press release dated December 17, 2002. Holdings also filed a Current Report on Form 8-K on December 19, 2002, with the Purchase Agreement and the press release also filed as exhibits. The deadline for filing the Form 8-K with the Commission was December 30, 2002.
Prior to filing for bankruptcy, Holdings made efforts to inform the market of its deteriorating financial condition. This deterioration started in the fourth quarter of 2000, as the telecommunication markets began to experience a downturn due to a slowdown in the U.S. economy, reduced capital spending by well-capitalized telecom service providers, and excessive inventory levels throughout the telecommunications supply-chain. The following disclosure appeared in Holdings' Report on Form 10-K for the year ended December 31, 2000, which was filed on April 2, 2001:
"The magnitude and duration of these circumstances [noted above] could impact our principal sources of liquidity, which is from our operating activities and funding from our senior credit facilities. Which in turn could limit our ability to meet our future cash requirements for working capital, capital expenditures, interest, taxes and debt repayments and the execution of our acquisition strategies."
On June 30, 2001, Insilco was not in compliance with certain financial covenants under its credit agreement. In response to this situation, Insilco entered into negotiations with its lenders and Holdings' equity holders which resulted, on August 14, 2001, in waivers by Insilco's lenders of such defaults, an Amended Credit Agreement ("Amended Credit Agreement"), and the investment by certain of Holdings' equity holders of an additional $15.0 million in senior unsecured loans to Insilco under the Amended Credit Agreement. The following was disclosed in Holdings' Report on Form 10-Q for the period ended June 30, 2001, filed with the Commission on August 14, 2001:
"As a result of continued weak market conditions, we do not expect improved performance in the second half of 2001. We see no current signs of a rebound in the U.S. economy and we expect emerging telecom carriers to continue to experience difficulty in securing equipment financing. Therefore, we expect these carriers will continue to cancel or delay equipment orders, causing them to further delay spending with major telecommunication equipment OEM's which will extend the time required to deplete excessive inventory levels within the supply chain. We continue to believe our strategy and strong customer relationships will enable us to capitalize on market opportunities now and over the next two to three years. However, it is difficult to predict how long the sluggish demand in our end markets will last. Therefore, there can be no assurances that these activities are indications of a second-half sales increase or that the slow down in order activity will be short-term or that economic conditions will not deteriorate further. Thus, the magnitude and duration of these circumstances could impact our principal sources of liquidity, which include cash on-hand, cash from our operating activities and potential funding under the Amended Credit Agreement, which in turn could limit our ability to meet our future cash requirements for working capital, capital expenditures, interest, taxes and debt repayments and the execution of our acquisition strategies."
Market conditions and liquidity continued to deteriorate over the subsequent months and the following was disclosed in Holdings' Report on Form 10-Q for the period ended March 31, 2002, filed with the Commission on May 15, 2002:
"On February 15, 2002, Insilco Technologies, Inc. ("Insilco"), a direct subsidiary of Insilco Holding Co. (together with its subsidiaries, the "Company") failed to make a required interest payment on its 12% Senior Subordinated Notes Due 2007 (the "12% Notes"). The 30-day grace period for such payment expired on March 18, 2002, resulting in an event of default under the indenture governing the 12% Notes, as well as, a cross-default under Insilco's senior secured credit facility (the "Amended Credit Facility"). In addition, at March 31, 2002, Insilco failed to meet the EBITDA covenant under its Amended Credit Agreement and is now operating in default on its Amended Credit Agreement and its 12% Notes. As a result of these defaults, the debt under the Amended Credit Facility, the 12% Notes and the 14% Notes has been classified as current. The Company and the lenders under the Amended Credit Facility (the "Lenders") recently entered into a forbearance agreement ("Forbearance Agreement") to permit the Company time to evaluate strategic alternatives. Under the Forbearance Agreement, the Lenders agree that, absent a further default, they will not (a) accelerate the maturity of the debt under the Amended Credit Facility, (b) take enforcement action against any collateral, including effecting any rights of setoff, or (c) commence any legal action to enforce rights or remedies pursuant to the terms of the Amended Credit Agreement, for the period from May 3, 2002 until July 10, 2002 (the "Forbearance Period") at which time the Company expects to have completed an evaluation of its strategic alternatives. Thus, the Company is continuing its on-going discussions with its Lenders and an ad hoc committee of holders of the 12% Notes in an effort to reach an agreement on a consensual restructuring of its capital structure. However, as with any negotiation, there can be no assurance as to when and if such an agreement will be reached. If an agreement is not reached, it will impact the Company's principal resources of liquidity and its ability to meet future cash requirements. Pending these negotiations, the Company is considering alternatives that may include attempting to obtain commitments for additional new tranche loans or notes, asset sales, a sale of the Company or other remedies appropriate for the circumstances. The Company's recent losses and highly leveraged position raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments relating to recoverability and classification of recorded asset amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The ability of the Company to continue as a going concern and the appropriateness of using the going concern basis are dependent upon, among other things, (i) the Company's ability to negotiate with its Lenders and an ad hoc committee of holders of the 12% Notes, (ii) the Company's ability to create and implement a strategic business plan, and (iii) the Company's ability to generate sufficient cash from operations to meet its obligations."
In addition, Holdings' Report on Form 10-Q for the period ended June 30, 2002, filed with the Commission on August 14, 2002, contained the following disclosure:
"This [Forbearance] agreement was subsequently amended to extend the Forbearance Period through September 20, 2002. During the Forbearance Period, we are considering such alternatives as a sale of all or some of the business, a Chapter 11 bankruptcy filing, or other remedies appropriate for the circumstances."
Finally, Holdings' most recent Report on Form 10-Q for the period ended September 30, 2002, filed with the Commission on November 14, 2002, disclosed the following:
"We are engaged in active discussions with potential purchasers of substantially all of the assets of our three business segments, which we anticipate will result, upon successful completion of such negotiations, in multiple sales of these business segments through Chapter 11 bankruptcy proceedings. Such sales are predicated on negotiating final terms and conditions of the transactions and completing definitive documentation for the transactions that is, in each case, satisfactory to the buyers, the Lenders and us."
In accordance with the Bankruptcy Code, Holdings is required to file monthly financial statements and operating reports with the Bankruptcy Court and the Office of the United States Trustee (the "Monthly Operating Reports"). Holdings has timely filed all reports required by the Exchange Act for the 12 months proceeding the Petition Date.
Holdings had 1,480,849 shares of Common Stock outstanding at March 1, 2003, of which, 1,310,250, (88%) shares were held by related party institutional holders, Donaldson Lufkin & Jenrette Merchant Banking Partners, II. L.P. and its related investors and 399 Venture Partners, Inc. Currently there are four market makers in Holdings' Common Stock, which trades on the Over-The-Counter Bulletin Board. During the three-month period prior to the bankruptcy filing (September 15, 2002 to December 15, 2002), the total reported trading volume of the Common Stock was 5,400 shares, which occurred on two trading days. In fact, for the fourteen month period beginning January 1, 2002 and ending March 1, 2003, the total reported trading volume of Holdings' Common Stock was only 62,100 shares.
In the past, the Commission or its staff has agreed to suspend or modify the Exchange Act reporting requirements of certain issuers that were the subject of a case pending under the Bankruptcy Code. In the Release and the SLB 2, the Commission states that it will accept reports differing in form
and content from the quarterly and annual reports required under the Exchange Act where the issuer has ceased or severely curtailed its operations and such a modification of the issuer's reporting requirements is "not inconsistent with the protection of investors." Granting the relief requested herein would be consistent with the Commission's prior no-action correspondence, where as here, full compliance with the reporting requirements of the Exchange Act would pose an undue hardship, such compliance is not needed to protect and inform investors and the public, and the modified reporting procedures proposed are not inconsistent with the public interest. See e.g. Opticon Medical, Inc. (June 28, 2002); Roberds, Inc. (October 4, 2000); Brazos Sportswear, Inc. (November 22, 1999); Doctors Health Inc. (February 22, 1999); and Campo Electronics, Appliances and Computers, Inc. (November 2, 1998).
The Release also refers to Section 12(h) of the Exchange Act, which permits the Commission to exempt issuers in whole or in part from the reporting requirements of the Exchange Act "if the Commission finds, by reason of the number of public investors, amount of trading interest in the securities, the nature and extent of the activities of the issuer, income or assets of the issuer, or otherwise, that such action is consistent with the public interest or the protection of investors."
The Release also cites Exchange Act Rule 12b-21 as a potential basis for relief from the reporting requirements of the Exchange Act. This rule provides, in part, that "if any required information is unknown and not reasonably available to the registrant . . . because the obtaining thereof would involve unreasonable effort or expense . . . the information may be omitted . . . [and] such information on the subject as [the registrant] possesses or can acquire without unreasonable effort or expense, together with the sources thereof" may instead be provided. In the discussion of Rule 12b-21, the Release states that "in general, an unreasonable effort or expense would result if the benefits which might be derived by the shareholders of the issuer from the filing of the information are outweighed significantly by the cost to the issuer of obtaining the information."
For the reasons set forth below, Holdings believes that the benefits derived by its security holders from Holdings' full compliance with the reporting requirements of the Exchange Act would be significantly outweighed by the cost and administrative burden to Holdings of obtaining the information necessary to effect such compliance.
Holdings is required to file quarterly and annual reports pursuant to Section 13(a) of the Exchange Act. Holdings was current in its Exchange Act Reports for the 12-month period prior to the Petition Date. From the Petition Date through the date of this request, Holdings remained current with its Exchange Act reporting obligations. Because of the change in Holdings' status as described above and other factors described below, the continued filing of periodic reports would not be helpful to investors and would pose an unreasonable burden and expense on Holdings.
The filings by Holdings required under the Exchange Act during the year prior to the Petition Date have been timely made and, as described above, contained detailed information regarding Holdings' financial condition and the operating and financial difficulties that led to the bankruptcy filing. In fact, Holdings made efforts to inform the market and its security holders of its declining financial condition starting with its Form 10-K for the year ended December 31, 2000, filed with the Commission on April 2, 2001. As general market conditions continued to worsen and Holdings' financial condition further deteriorated, Holdings disclosed as much in its Form 10-Q for the quarter ended June 30, 2001, filed with the Commission on August 14, 2001. Additionally, as stated above, Holdings' Report on Form 10-Q for the quarter ended March 31, 2002, filed with the Commission on May 15, 2002, disclosed Holdings' "substantial doubt" about its ability to continue as a going concern. Also, in its Form 10-Q for the quarter ended June 30, 2002, filed on August 14, 2002, Holdings disclosed that it was considering several alternatives to address its financial condition, including (among others) a Chapter 11 bankruptcy filing. Finally, in its Form 10-Q for the quarter ended September 30, 2002, filed on November 14, 2002, Holdings disclosed that it was engaged in active discussions with potential purchasers of substantially all of the assets of its three business segments, which it anticipated would result, upon successful completion of such negotiations, in multiple sales of the business segments through Chapter 11 bankruptcy proceedings.
As noted above, Holdings announced its intention to seek bankruptcy protection immediately after filing the bankruptcy petition on December 16, 2002. In addition, since the Petition Date, Holdings has continued to inform the market and the investing public of material developments by means of various press releases, including the following press release dated December 17, 2002, which Holdings filed as an exhibit to its Current Report on Form 8-K on December 19, 2002. We have attached a copy of this press release to this request. Holdings will continue to file all future press releases under cover of a Current Report on Form 8-K.
Holdings is in the process of seeking Bankruptcy Court approval of a motion to sell substantially all its assets, subject to the bidding process. Holdings, together with its outside advisors, will be working to administer the case and complete the sale process. It is important to note that Holdings' bankruptcy proceeding under Chapter 11 of the Bankruptcy Code is not the typical Chapter 11 reorganization that would result in the emergence of a reorganized, ongoing operating entity. Rather, Holdings is essentially a "liquidating Chapter 11 debtor." Pending the completion of the sales and the liquidation of any remaining assets, the Bankruptcy Court will retain and exercise the authority to approve or disapprove any actions of Holdings. Moreover, Holdings believes that, given the limited volume of trading, and since it does not expect to engage in any significant operations (other than activities consistent with the winding up of its affairs) the filing of periodic reports under the Exchange Act will not serve disclosure and investor protection purposes and stockholders would likely find such reports of little or no value.
Holdings relies on a limited corporate staff of three professionals for all its financial reporting. Thus, Holdings believes that continued full compliance with the Exchange Act reporting requirements, combined with the additional reporting resulting from the bankruptcy filing, would pose an undue hardship on its limited staff. As a result of the bankruptcy filing, this staff will be principally engaged in dealing with bankruptcy-related matters including: administering the Chapter 11 case, preparing detailed budgets, formulating and preparing disclosure materials relating to the Chapter 11 case, analyzing accounts payable and accounts receivable, assembling data for the schedules of assets and liabilities and statements of financial affairs to be filed with the Bankruptcy Court and preparing the Monthly Operating Reports for the Bankruptcy Court and the United States Trustee. After the asset sales are completed (estimated closing dates are mid to late in the first quarter) and following a brief wind-down period, Holdings' corporate office, which houses the financial reporting staff, will be shut down.
Holdings also believes that the information that will be contained in the Monthly Operating Reports filed with the Bankruptcy Court and the United States Trustee, and other material information concerning developments in its bankruptcy proceedings, which Holdings will file under cover of a Current Report on Form 8-K, will be sufficient for the protection of investors. Holdings believes that its security holders will obtain no additional significant benefits from its continued full compliance with the Exchange Act reporting requirements. As noted earlier, Holdings' Common Stock is held primarily by large sophisticated institutional investors who have been kept informed of material developments of Holdings' financial condition and otherwise through timely filings of press releases and Exchange Act reports. Moreover, these securities are rarely traded. Thus, Holdings believes that the Monthly Operating Reports, if filed with the Commission as proposed, would provide the relevant information to these security holders regarding its prospects and the status of the bankruptcy proceedings. As a result of the bankruptcy proceedings, Holdings does not expect any funds to be available for distribution to its stockholders.
For all of the reasons above, Holdings' management believes the costs, both monetary and administrative, of fully complying with the Exchange Act reporting requirements pose an undue hardship given the present situation and future outlook.
Based on the foregoing and prior no-action correspondence filed with the Commission under similar circumstances, Holdings undertakes to file with the Commission copies of all of the financial reports that are required to be filed with the Bankruptcy Court and the United States Trustee under the cover of a Current Report on Form 8-K within 15 days after such reports are so filed, and to report all other material developments in the bankruptcy proceedings under Item 5 of the instructions to Form 8-K. Specifically, and as noted above, Holdings undertakes to continue to file all future press releases as an exhibit to Form 8-K. Finally, Holdings will file a final Form 8-K upon the completion of the process of liquidation. Holdings will continue to otherwise comply with all other applicable requirements of the Exchange Act.
Holdings believes that the proposed modified reporting procedure will best serve the interests of all of its security holders. Accordingly, we respectfully request that the Staff provide us with written assurance that it will not recommend any enforcement action to the Commission against Holdings if the modified reporting procedures set forth above are implemented.
If you have any questions with respect to this request or require any additional information, please do not hesitate to call the undersigned at (614) 227-1953. If you disagree with the views expressed in this letter, we would appreciate the opportunity to discuss this matter before a written response is provided.
In accordance with Securities Act Release No. 33-6269 (December 5, 1980), enclosed are seven additional copies of this letter. We would appreciate it if you would acknowledge receipt of this letter by date-stamping the extra enclosed copy of this letter and returning it to the undersigned in the enclosed self-addressed stamped envelope.
Very truly yours,
/s/ Robert J. Tannous
Robert J. Tannous
cc. Michael R. Elia
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subset: commoncrawl


text:
We welcome groups and are happy to be contacted about individual group requirements
Below are our T's&C's in brief, to download the full version click here: Cohort Hostel Group Ts&Cs and for School Groups Cohort Hostel School Ts&Cs
Please make a group booking over the phone or by email, rather than online. You can reach us on 01736 791664, email email@example.com or send us a message.
When you make a booking you will be asked to pay 50% of the total amount due as a deposit, this is non-refundable in the event of a cancellation.
Should you wish to cancel a booking you can do so up to 30 days prior to the arrival date with no additional charges. Should you cancel less than 30 days before arrival 100% of the booking will be due.
The remaining balance of your booking is due at least 14 days prior to arrival.
We will accept payment by card (see below) or bank transfer (BACS).
On arrival we will ask for card details which will be held as a bond against accidents, loss of key cards or damages until your departure; no money will be taken unless deemed necessary. If you do not have card details to give us then £20 cash deposit per person will be required. This will be signed for and handed back to you on departure.
We accept Visa (debit & credit), MasterCard (debit & credit), Switch and Maestro cards. We do not accept AmEx or Diners cards.
There is a 2% administration charge for payments by credit card of over £300.
We will require full contact details (including a mobile number) of a nominated person who will be the person we will deal with for all questions and queries prior to arrival and during the group's stay.
We welcome kids over the age of 3 years old at the hostel.
Any children under 10 years old must be in a room with only members of their party. Please do not book younger guests into a room where guests not of your party might be staying.
If anyone in a group is under 16 years old there must be an adult over the age of 21 accompanying the group.
We will require each person who stays with us to have some form of photographic ID (e.g. driving license, passport, etc.) as we have a bar on site. This does not include children.
We do not accept stag & hen groups of any size or under any circumstances. If it transpires that a group have booked in and not declared that they are a stag or hen party a fine of £500 will be due.
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Ein herzliches Willkommen an alle neuen User. Haut in die Tasten, so dass wir bald wieder die alte Größe erreichen! MfG Frank.
Here is a few pictures from the game I played with Juha this evening. We both had 10FSP lists, so we ended up playing Delay the Enemy scenario with My Muscovites defending. Juha played with a Lithuanian skirmish force.Here's a picture of deployment with initial moves and plans.We ended exchanging shot in the left flank in the first turn. In fact the shooting contest lasted till round 4 with me taking heavy casualties from the dragoons. On 4th turn My boyar sons came to help the provincial soldats and drove the dragoons away with their fire.Meanwhile my streltsy had absolutely nothing to do or shoot. They were quite happy about it.The boatmen stood still at the edge of the woods and the delayed orthodox peasants arrived.On turn two the peasants on the left flank were charged by cossacks and voluteers. They were swiftly beaten and the lucky surviving base was fleeing as fast it could towards the woods.On the third turn my dvorians counterattacked the cossacks that were running trough my peasant rabble .. err I mean my first line of defense. The dvorians got help from the boatmen hiding in the woods. Their fire drove the attacking cossacks away in disorganization. The disorganized cossack were easy prey for my noble dvorians.The dvorians charged through remaining volunteers, who disorganized, while fleeing, the reiters that just had emerged in the flank. The boyar sons drove the dragoons away with fire and a few charge moves. By the fifth turn the left flank looked like this. Nothing happened in the right flank. Two bases of tatars got trough my defenses and the last turn was just for cleaning the table. The delayed robbers (3 bases of volunteers) made a last daring attempt to take the central hill, but my soldats hold the line despite casualties.It was a 5-1 victory for the Muscovites.
Juha has already posted his AAR, but still I'd like to share mine. This time I used seven point force:** Golova6 bases of streltsy4 bases of provincial musketeers6 bases of boyar sons2 x 3 bases of cossack boatmen2 x 3 bases of orthodox peasantsMy force strenght was 32 and reconnaissance value was only 8.Juha won the reconnaissance by 8 and chose splitting as the effect.The scenario was defend the crossing. And to Juha´s horror he was the attacker. The Finns had been too slow to react to Muscovite aggression and ended up attacking the bridge they were supposed to defend. It took too long for the Finns to muster the troops. I deployed my troops first and decided to hold the bridge at any cost. The right men for the job were the streltsy. With all the other troops on the other side of the river or on the river, the unthankful duty of guarding the flank of streltsy went to peasants, who had volunteered to help the noble Muscovites in theur fight against Lutherian oppression. The poor bastards new little of what the Golova had tasked them to do.More ill news were coming. Dimitry from the boyar sons had run in to an argument about his garlic breath with Sergey from the same squadron. The squadron witch Golova Krupin had organized by himself and tasked counter charge the Finns, if they somehow could penetrate defences on the other side of the bridge. One of his messenger rode from the nobles to inform that Dimitry was forced to leave the squadron and that he had taken his men with him. So the squadron was splitted into two groups. The Golova's hands were shaking as he opened his canteen for a little drop of vodka to ease his nerves.Golova Alexei Krupin was indeed the man in charge and despite the bad news to prove his complete supremancy of the field, he stood in the middle of the bridge surveying the closing Finns. He took a long sip from his canteen and cursed. It would be a long day and the vodka was almost gone already. There never was enough vodka. Not here in Finland. There was only swamps and forests and mosquitoes. Finland was a disgusting place.In the first turn the Finnish musketeers started their long countermarch towards the line of streltsy. The swedes didn't hit a thing and were out of range from the inferior muscovite handguns. So the stretsy stood still and delayed their fire, for there was a sound of trampling hooves and pistol fire, with the cries of peasants being killed, in the right flank. After the surviving peasants had run trough their line, the streltsy opened fire at reiters from close range. A base was killed so was the reiters will to do more charging and they withdrew in disorganization. Golova Kurpin stroked his elegant and formidable beard smiling. Everything was going as planned. Now if the boatmen, tasked to surprise the Finnish rabble, arrived in time, then there might be enough vodka.Krupin almost choked himself, while drinking, when he saw the boatmen on the left flank to land on the wrong bank of the river. Those fishermen had drove their boat ashore on the muskovite side of the river. And the other group of cossack boatmen were absent from the right flank. Those lazy git were somewhere fishing. I really hate Finland, thought Krupin to himself while shouting orders to his signal drummer. Hopefully the drummer had something to drink...On the second turn the streltsy were in trouble. The Finnish musketeers countermarched closer shooting as fast as they could. Luckily their aim wasn't true. Al the managed to do was a lot of noise and smoke. Still with the peasants hiding behind their backs, the streltsy had to make a hasty reform to counter the charging Finnish adelsfana. Seeing the professional maneuver of the streltsy, the Finns had a second thought about their charge, and withdrew disorganized. On the left flank there was some shooting with little effect between peasants and boatmen and dragoons. The boyar sons, having departed from their squadron, headed single mindedly towards the just found crossing in the river. -Well at least they are doing something right, told Krupin to his flag bearer while eyeing the mans backpack thirstily. But still there was no sighting of the second boat nor the cossacks. -Maybe they have wrecked their boat and drowned, Krupin smiled to himself. He tried to think positively. On the third turn there was more shooting of streltsy, who were still exposing their flank to the ever-shooting and approaching Finnish musketeer. Luckily the Finns were very badly trained and didn't score any hits despite discharging shot after shot to the backs and flanks of the brave Muscovites. Maybe the Finns were afraid of the professional expertise of yhe streltsy or their bushy beards combined with their pointy hats.- Even I could shoot better! shouted the Golova between small sips from his canteen. And I'm drunk as a...The Golova's laugh died on his lips. The other boatmen had arrived just in time to greet the boyar sons ON THE SAME SIDE OF THE RIVER! Krupin started to load his pistol sobbing. How did it come to this. The vodka was gone, the boyar sons arguing with each other, the peasants fleeing and the damned stupid boatmen failed to cross the river.Krupin left his command post on the bridge heading for the boyars and boatmen on the right flank. Someone is going to pay for this, he cursed while reaching for his other pistol. And then, when all hope seemed to be lost, his trembling hand didn't find his heavy pistol. It found something better. His personal spare bottle of the good stuff was tucked inside his pistol holster for worst case scenario. He had completely forgot the thing. The Golova shouted out load a terrifying roar of a war-cry filled with pure happiness. The boars took it as an order to charge the Lutheran peasant guarding the crossing.It was a close mach between two bases of peasant rabble and two bases of Muscovite noble rabb.. ..er.. shock cavalry. And due a single unsaved hit made against he peasants, the boyars sons won and killed the Finns when they were trying to flee! Maybe it was the garlic.At the same time things started to heat for the streltsy. They were exposing their flank and rear to the musketeers and they couldn't turn, because the reiters had finally rallied and were preparing to charge the poor Muscovites. Perhaps they took the Golova's roar of joy as a command to hold their ground. And that is what they did. The streltsy managed to withdraw in good order and even repel the pursuing reiters under the fire from close range muskets. They were dying like flies, but their banner was held high and they didn't break. The last thing heard, by many dying streltsy, was the boasting of their commanding officer, Golova Alexei Krupin. -To the last drop! he shouted and emptied his reserve flask.So at the end of the fight there were several Muscovite troops still on the Finnish side of the bridge. The bridge it self was guarded by provincial soldats, who were quite happy to be on the other side as the streltsy. The flag of the remnants of once proud streltsy prikaz were still held high. The crossing was held by the boyar sons and cossack boatmen and Golova Alexei Krupin was completely hammered. When he came back to his senses on the next day or the day after, he was held as a hero. Who, against the odds, had outmaneuvered a more numerous enemy, and at the time of despair had raised his voice to encourage troops. Even more, he had managed to issue a charge order to the boyar sons and they had obeyed! The brave boyars had saved the day, by charging a rather sizable mob of Finland's finest and killed them all. There was a small side mention of some streltsy getting killed in a little skirmish near the bridge.Mt first strategic victory to the Muscovites!A group shot of the most unsuccessful boatmen ever.Well be back!


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Daddy Doesn't Speak French: How He (Still) Supports Our Bilingual Children
My husband grew up speaking Thai at home, but he's most comfortable speaking English because he was raised in the U.S. (This comfort factor is why he chose to speak English to our children.) His French knowledge is limited to what he's learned in hearing me speak it with our kids, and yet he still manages to support our children's French acquisition in ways I truly appreciate. Here are five awesome ways he supports our children's bilingual development:
1. He still uses Thai with his parents and relatives. Even if my children don't understand this heritage language, they still hear their dad modeling bilingualism. I'm proud that my husband is bilingual and they can be too!
2. With our children, he uses the French words he does know. For example, he might ask our son, "Would you like some lait de riz in a tasse à bec?" (The French words he's learned through home life--like rice milk and sippy cup--are so different from classroom French!) Language instructors might frown on language mixing in the classroom, but the reality in bilingual households is that there will always be some language mixing, and it's not a bad thing. Every bit of French he uses communicates to our children that it is useful and important.
3. He attempts to read children's books aloud in French. At first his pronunciation was so off base that our daughter insisted he switch to English, but now that a few years have passed, our two-year old son doesn't mind Daddy's French reading at all--and our daughter is now old enough to enjoy correcting him. It's good literacy practice for everyone!
4. He listens well. Rather than tuning out French conversations, he tries to follow along, and asks my daughter, "What did Mommy say?" when he's doubtful of what was communicated. This keeps him engaged in family affairs and gives our children opportunities to translate aloud. (I've had to learn to stop myself from translating for him before my children can respond to his question.)
5. He's supportive of the financial costs of supplemental language materials. He trusts my judgement in purchasing magazines and books as well as paying tuition for occasional children's classes at our local Alliance Française. He also supports our monthly savings goals towards our extended trip to France next summer.
Let's hear it for supportive spouses! Merci bien, mon amour. Je t'adore!
This post is part of the June 2014 Multilingual Blogging Carnival. This month the carnival is hosted by Maria Babin of Trilingual Mama, and you will find more stories and information about how monolingual parents can support bilingual children on her post. Thank you for joining us!


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Two cybersecurity researchers have just taught smartphones a lesson by developing a program that can eavesdrop and steal text messages from any phone on a GSM network – all in about 20 seconds.
The Guardian reported that Karsten Nohl and Sylvain Munaut spent a year honing their technology, which starts by sending a text message to a target phone; called a "ghost" message, the text doesn't show up on the recipient's phone, but enables the hackers to obtain the handset's unique identification number.
Once that identification number is stolen, Nohl and Munaut were able to record phone conversations and texts from the hijacked phone. Their proof-of-concept hack can be deployed on any phone running on a GSM (Global System for Mobile Communications) network.
That's a pretty big focus group – about 80 percent of the world's phones run on a GSM network.
"Any GSM call is fair game," Nohl told the BBC. He and his partner in cybercrime demonstrated their data-grabbing technology at last week's Chaos Computer Club Congress (a gathering of the hacker organization) in Berlin.
Despite its mischievous nature, there is no devious design behind their hacking technology.
Nohl said he and Munaut do not plan to make the eavesdropping kit available for others to use. He said they developed it in the hopes it would serve as a wake-up call to the mobile security industry.
"This is all a 20-year-old infrastructure, with lots of private data and not a lot of security," Nohl said of the GSM network. "We want you to help phones go through the same kind of evolutionary steps that computers did in the 1990s."
- Tech Travel Tip: Assume Your Devices Will Be Compromised
- Security and Privacy Software Reviews
- Mobile Security Software Review
© 2012 SecurityNewsDaily. All rights reserved


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Video: Ardscoil Ris beat Glenstal in Munster Schools Senior Cup
Check out our latest video highlights package from the Munster Schools Senior Cup - this time Ardscoil beat Glenstal 17-13.
On Tuesday we brought you footage of Castletroy's win over Rockwell while on Wednesday we saw St Munchin's draw with PBC in Cork.
Now it's the turn of pre-Cup favourites Ardscoil Ris as they are made to work by complete outsiders Glenstal.
Check out www.limerickleader.ie again tomorrow for the last of the games from the first round - Crescent's impressive 39-0 win over CBC.
And stay with us all throughout next week as we will have highlights from all four quarter-finals.
Video footage is by Gill Bourke


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Project description
Assignment:For this assignment, you will write a short essay defending your position on a topic – Gatto, John Taylor. Against School: How Public Education Cripples our Kids, and Why. Harpers September 2003: 338. Print.
Defend the merit of the position the author is advancing, critique the limitations of such a
position, or offer a combination of both. The point is for you to advance and defend an
evaluative claim based on your own engagement of the material, drawing on all the writing skills
you have at the beginning of the course.
Instruction files
acmb01_evaluative_response.pdf(56,81 KiB)
gatto_-_against_school_copy.pdf(2,52 MiB)
mla_8_essay_format.pdf(67,12 KiB)


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Review: Zom-B Bride
Zom-B Bride by Darren Shan
My rating: 4 of 5 stars
It's time to admit this series is low-level torture but it hurts so bad… B. Smith once again made me believe one thing in order to do what Becky does best in the end anyway. I love this series and keep telling myself to wait until it's done before I finish, but I can't. Shan you have me hooked for as long as you want to tease out this tale!


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Last week, it hit me...
Have you seen La La land yet? Well I've seen it about 4 times now and within the first scene I'm bawling. Mostly because I'm a sucker for musicals but secondly because even though I'm not an actor, I identify with the message of the film so much. In the opening scene there is this song and dance sequence to the song "Another day of sun" that any Los Angeleno will tell you feels very relatable. This city can eat you up and spit you out but then we wake up and do it all over again the next day.
Last week, it hit me...
I was reminded that our first Skin Food Talk was a year ago and I was hit with a wave of emotions. It's not just because of the success of this past year, it's because I had a lot of memories resurface and I realized that this last year taught me how to better cope with the challenges of this life.
When I first moved to LA in the fall of 2012, I left a job that was everything I wanted. Leaving milk + honey spa in Austin, Texas was something I never thought I would do. Not only was that place my second home with coworkers who were my family but I became myself there. I was confronted with a lot when I worked there that molded me into the person and esthetician that I am today. When I first interviewed, I was 21 and knew it in my heart that if I just had a chance to work at this spa that I could prove to myself that I wasn't just a college dropout with a vocational trade. I was a healer. I was also a very young woman with low self confidence, but a willingness to learn and work long hours. I remember when I first interviewed and how crushed I was that I wasn't offered the job. I knew it in my heart that I was going to work there, so I emailed the HR manager and asked what I could do to improve and she gave me another chance. After they finally offered me the position to the moment I left over 3 years later, I expressed my gratitude for that job every day. If anyone were to be having a bad day where they disagreed with management, clients or coworkers, I would remind them how much other people want this job and to try to find the gratitude in that. Never had I been more grateful or felt more at home.
So when I moved to LA at 25, I naively assumed that I would find a job just like m+h. Low and behold, I didn't. I worked 5 jobs in 2 years and don't think I have ever been more depressed. If it weren't for my now husband James, I would have left and gone back to m+h. There were days that were so low that even he didn't feel like a strong enough reason to stay at times. But luckily, there were always signs. Tapping into my intuition at times like these is the ONLY thing that got me through. I knew that eventually I would find what I was looking for so I started just writing it down and manifesting. I started saying out loud how I wanted to feel when I worked. I went with feelings first because I had a spa director once tell me I was vibrating at such a low frequency that I might as well be dead. What she didn't know is working for her made me feel dead inside. This was not who I was and it felt like all the hard work I put into my time in Austin was just a waste.
That's until it wasn't. Every minute of my days off were consumed with me on craigslist, linked in, googling any business with the term "skincare" associated with it. Literally I would have worked at Sephora at this point. A seasoned, medically trained esthetician with impeccable sales and retention records - but it didn't matter. I had my resume and cover letters sent out to everything only to go on interviews and have to say "no". The feeling just wasn't right.
Finally, when I felt like I was at one of my lowest points working retail and not even doing facials because my shingles virus had started shutting down my nervous system, I had time to rest and reflect. That's when "Therapeutic Skin Coach" was born. That's when "Skin Food Talk" was born. I let go and the universe finally heard me. To go from feeling like no one wanted me to creating my own path to success and abundance completely changed my perspective. So when I was met with challenges over the last year, I knew how hard I fought and how low I once was that I knew that I could handle it. Life is happening for you and the power of manifestation is real. It's so real that you can literally change your skin, your finances, your life.
Now here I am, married to my best friend living in the neighborhood we dreamt about when we first moved to LA, and I am living in abundance of the type of work I am proud of. I was asked what I do the other day by a brand rep whom I met at an event and realized how hard it is to now describe it. I'm no longer just a facialist. I'm a writer, speaker, educator, content creator, business owner, manifesting machine. Whatever I want I am presented as long as I am clear, trusting and coming from my heart.
So after my meltdown of tears when I was hit with emotion last week, I expressed my gratitude out loud once again. We are all worthy of our dreams and no matter what anyone says, the hard work pays off. The truth is that the hard work really has to come from within. Never stop believing in your intuition and work on fine tuning it. Whether this means ridding yourself of the people who cast a shadow on your light or simply shielding yourself from them. It could be a matter of saying out loud that you are worth a million (like I did). It's about putting the belief out there that the universe and this life is here for you, you just have to listen and trust. You might just wake up like these people if you do. xo - Hayley


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Look at your child's emotions or behaviours -- what are they telling you?
It's not all about looking at the skills. Look at your child's emotions.
If your child is struggling (even just a bit) in school and you notice that they are anxious about school and learning -- don't let others tell you it's nothing.
This could be a sign that your child is silently struggling with their way of learning and they need to understand how they learn.
Kids that learn differently are smart -- they can survive but this is not thriving.
I want kids to thrive.
When kids survive they make decisions based on this -- based on what they can't do. And to them that's learning...that's school. And that's simply NOT true. They can learn and they are SO capable!
I survived -- but your child doesn't have to.
Watch your child. What are they telling you in their actions? Are they sad? Angry? Frustrated? Their behaviour is telling your something.
WE all want to read, write and use numbers in a way that makes us feel that we can take on the world. But if we feel we can't do this our self esteem drops -- hard.
If you see this -- ask your child how they feel about their abilities to read and write.
Let them know you will help them figure out how they learn.
Because they can learn.
Find out how to observe and support your child by moving through the Invincible Mama Program here >>>>


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Smugmug Discount Codes & Offers for September 2019
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text: Apple's proprietary Camera Connection Kit allows you to transfer full-resolution photos and videos from your digital camera to your iPad without the need for a computer. When connected iPhoto will open and allow you to import all or selected photos. You can stop in our store and pick one up or order it from the Apple Store.


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Subscribe To Shane Black Is Writing Iron Man 3 After All Updates
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When Drew Pearce was announced as the screenwriter of Iron Man 3, a lot of people were disappointed. The movie's being directed by Shane Black, who's best known as a pretty great screenwriter, especially when it comes to big-budget action. The hope among fans had been that he'd be scripting the movie too, and in the process would really be able to make the whole thing his vision. Don't worry, he will.
We've heard from multiple, completely trustworthy sources that Shane Black is in fact writing Iron Man 3. He'll co-write the movie with Pearce and word is that his ideas are behind a lot of what's happening with the script they're working on. Shane Black will be writing, or co-writing at least, the Iron Man 3 script which he'll also direct.
As for why Pearce has been brought in to write it with him since Black is a fairly proven screenwriter who shouldn't actually need any help, we're hearing conflicting reports. Some sources say that Disney may be worried about Shane's history of R-rated movies and that Pearce has been brought in to make sure he keeps it family-friendly, others say that's not the case. Would Shane Black have remained involved if they were bringing in another writer to keep him in check? Iron Man 3's a pretty big opportunity and it's not like the directing gigs have been rolling in since his eye-poppingly awesome directorial debut, Kiss Kiss Bang Bang. We'll keep an eye on this one.


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This summer is getting hot hot hot. So, I am craving some cool colored walls. At the moment I am coveting dark teal walls for my apartment because it will add a chic and very cool mood to the space. How chic are these rooms with the dark jewel toned color? I think it just makes every other color in the rooms pop in such a beautiful way...
There are so many different shades of teal that I adore of course, especially this lighter color used in an old Parisian style space.
However, for my small apartment a dark shade of teal just might be the perfect look.
I think this shade below might be my most favorite. The way the gold pops is just intoxicating, no?


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M62 Hartshead Moor bombing victims remembered
A ceremony has been held to commemorate the 12 people, including two young children, who were killed in a coach bombing on the M62 in 1974.
It was staged in the memorial garden at Hartshead Moor service station in West Yorkshire.
The attack, on February 4, 1974, targeted off-duty soldiers and was suspected to have been the work of the Provisional IRA.
The victims died after a bomb exploded in the coach's luggage compartment.
Relatives of those who were killed join soldiers and veterans every year at a memorial service.
'Very moving'
Albert Walsh, brother of 17-year-old Leslie Walsh who died in the bombing, said seeing about 100 people at the ceremony had been "fabulous".
"It's a real tribute, I find it very moving: it's important we're doing all this," he said.
A tree was planted to commemorate the driver of the coach, Roland Handley, who died last year.
Cpl Terence Griffin, 24, Gunner Leonard Godden, 22, Signalman Michael Waugh, 23, Signalman Leslie Walsh, Signalman Paul Reid, 17, L/Cpl James McShane, 29, Fusilier Jack Hynes, 20, and Fusilier Stephen Whalley, 18, all died in the blast.
Cpl Clifford Haughton and his wife Linda, who were both 23, and the couple's two sons Lee, five, and Robert, two, were also killed.
The coach was taking soldiers and their families from Manchester to Catterick Garrison in North Yorkshire when the bomb exploded.
A memorial made of Yorkshire stone was unveiled in the garden in 2009 to replace a plaque inside the service station.
The original was moved to the Imperial War Museum North in Manchester.


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Have you ever wondered why so many of America's working class feel left behind and cheated?
Why this country's economic "miracle" has created such a negative feeling in so many Americans?
While this economy has been harsh to many individuals of all colors, races and ethnicities, the data in a study just put out by the Sentier Research highlight just how screwed over working-class white males with a high school education have been.
Over an 18-year period, from 1996 to 2014, white males in the working class have seen their pay fall by 9 percent, according to the study, which looked exclusively at white males.
That's hard to accept for virtually anyone. Take, for example, those in the 40- to 44-year-old age group, commonly a parenting age. The average pay of the working-class white male high school graduate in 1996 was $60,126; in 2014, it was $52,512. Eighteen years later, he's making 12.7 percent less.
In the 45- to 49-year-old group, it's even worse. Their earnings fell from $62,767 to $54,303, a 13.7 percent loss in income.
To add insult to injury, this population group has been shrinking significantly over the years, therefore there is less competition for jobs, something that traditionally has elevated pay.
In contrast, it does pay to go to college. White male college graduates saw their income rise 23 percent.
An analysis of health care costs by Aon found that there has been a 134 percent rise since 2005 in employee contributions and out-of-pocket co-payments and deductibles.
So a 23 percent income increase over 18 years in reality is actually a very weak number, although it's far better than a loss of 9 percent.
So it's not hard to see why the working class can relate to a pro-business billionaire like Republican presidential candidate Donald Trump. They may not like everything he says, but they are hurting and they want a change.
America's white working class is working as hard as ever and they are not only not getting ahead, they are falling behind.


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i always:
+ get excited about new tech-toys.
+ need to have a plan of action.
+ talk back to the TV.
+ sing along, loudly, to music in my car.
+ make myself accessible. (Email, phone, facebook, twitter.)
+ shower twice a day.
+ will use a Mac.
i sometimes:
+ throw away stacks of paper without looking through them.
+ write about myself from someone else's perspective.
+ wish for rain to justify staying in all day.
+ think in song lyrics.
+ choose to write in pencil.
+ get up before my alarm.
+ stay in my pajamas all day.
i never:
+ wear shoes without socks.
+ hate my job.
+ feel like listening to voicemail.
+ want to go back to a time before text messaging.
+ miss Texas summers.
+ want to return things to stores.
+ pass up baseball tickets.


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WASHINGTON — The Federal Reserve, which invested trillions of dollars to prop up the American economy after the 2008 financial crisis, is finally ready to take away the crutches.
The Fed is expected to announce on Wednesday that it will gradually reduce its $4.2 trillion portfolio of United States Treasury debt and mortgage-backed securities, a move that would amount to a vote of confidence that the economy's slow-but-steady growth is likely to continue.
The Fed, concerned about the reaction in financial markets, has tried to eliminate any suspense by publishing a detailed schedule and promising to move very slowly. But just as the Fed's bond purchases after the 2008 crisis were unprecedented, the retreat will again take the reserve banking system into uncharted territory. No one can be certain what will happen.
"What the Fed is going to do this week will not surprise anyone," said Lewis Alexander, chief United States economist at Nomura Securities. "And the models predict a slow and smooth adjustment. But there is always a risk of more volatility."
Two large and related questions also remain unanswered. The Fed has not said how large it would like its balance sheet to be, so there is no finish line for the retreat. Also, there is a good chance the Fed's current leadership will not complete the journey. Janet L. Yellen, the Fed chairwoman, ends a four-year term in early February, and President Trump has not announced whether he plans to nominate her for a second term.
The Fed responded to the crisis that began a decade ago by cutting its benchmark interest rate nearly to zero, and by vacuuming up huge quantities of bonds. Both measures were designed to revive economic activity by reducing borrowing costs for everything from mortgages to car loans.
The first round of bond-buying, often called "quantitative easing," or QE, began during the crisis and there is broad agreement that it helped to bolster financial markets.
The second and third rounds, which came after the crisis, remain controversial.
Buying a bond is the same thing has lending money to the seller. Buyers compete by offering to accept lower rates. The Fed's massive purchases increased competition for available Treasuries and thus drove down interest rates.
In an April analysis, Fed economists reported that the purchases reduced the yield of the benchmark 10-year Treasury by 1 percentage point.
The Fed's purchases of mortgage bonds had a similar effect.
Fed officials, and a wide range of independent economists, argue that the downward pressure on Treasury rates rippled outward to other kinds of borrowing costs, as private investors moved into other markets in search of better returns.
These impacts, however, are difficult to measure, and some independent economists argue that any broad economic benefits were modest, at best.
"There has been an explosion of research, dozens and dozens of papers, and almost all of them agree that QE lowered bond yields," said Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics. "The financial market effects are very clear. Did that stimulate growth? Did that stimulate inflation? It's always impossible to prove, but all the models we have imply it should have helped."
Critics foresaw negative consequences. A group of prominent conservatives warned in an open letter in 2010 that the Fed's purchases "risk currency debasement and inflation." Four years later, some signatories doubled down on those warnings. But there has been no resurgence of inflation. Indeed, the Fed is struggling with the opposite problem: Inflation has remained persistently below its 2 percent annual target.
The Fed's program was intended to encourage risk-taking by investors, but some critics warned it would create new asset bubbles. Those warnings have not yet been borne out.
The Fed's retreat began two years ago, when the central bank raised its benchmark interest rate for the first time since the crisis. It now sits between 1 percent and 1.25 percent. The Fed is not expected to raise rates on Wednesday. Job growth has remained strong this year, but some officials are worried about the persistent weakness of inflation.
The Fed plans to reduce its bond holdings with similar care. It plans to cut $10 billion a month for the first three months, divided 60-40 between Treasuries and mortgage bonds. It will then raise the pace by $10 billion every three months.
Mr. Alexander, and other analysts, see a number of factors likely to limit the impact on interest rates, at least in the short term. Both the European Central Bank and the Bank of Japan continue to buy bonds, putting downward pressure on rates. And the Treasury is issuing less long-term debt at the moment, reducing the volume of new securities that markets must absorb.
It is also not clear how much shrinking the Fed plans to do. It needs to hold about $1.5 trillion in bonds to meet demand for currency, which it puts into circulation by purchasing bonds. That number is projected to nearly double over the next decade.
The Fed also needs to hold hundreds of billions of dollars in bonds to maintain its current system for controlling interest rates, which it adopted after the crisis.
Jerome H. Powell, a Fed governor, said earlier this year that the new system is working well and the balance sheet is unlikely to shrink much below $3 trillion.
But maintaining a large balance sheet also means the Fed would remain a more prominent presence in short-term funding markets, where it has displaced some private activity. William Nelson, chief economist at The Clearing House, a trade group representing large banks, said the Fed should return to its pre-crisis operating procedures, which required a much smaller balance sheet.
"The pre-crisis framework worked very well. The Fed had very good control of rates and economic activity," Mr. Nelson said. "Nobody was complaining that the Fed's control of interest rates pre-crisis was not precise enough."
Another open question is whether the Fed would buy bonds in responding to a future downturn. Fed officials predict the benchmark rate will not rise much above 3 percent. That's a problem because during the past nine recessions, the Fed has cut the rate by an average of 5.5 percentage points to stimulate the economy.
In a speech last year at the Fed's summer conference at Jackson Hole, Wyo., Ms. Yellen pointed to asset purchases and forward guidance as the Fed's fallback plan. Those tools, she said, "will remain important components of the Fed's policy tool kit."
But Mr. Trump could choose a Fed chairman who disagrees. Kevin Warsh, an adviser to Mr. Trump who is among the possible candidates, resigned as a Fed governor in 2011 in part because he opposed the Fed's second round of asset purchases.


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we just finished our first round of pool fun for the day, taking a quick break for lunch, which gives me a few moments to post a few more pictures from our weekend away in D.C. a few weeks ago. we had so much fun and can not wait to get away again. on our second day out we decided to stop by a few museums and monuments. and while i wish i had called on a few of our favs from D.C. to show us around, we still had a good time getting "lost" in the city.
we made our way through the butterfly garden after stopping by the peoples garden and taking pics to share with the babies when we get home.
i happened to really enjoy visiting the Asian-American & African-American Museums while BDH was just happy to make it to the Air & Space Museum.
i couldn't help but FaceTime the babies to show them how cool the museum was. The Lady Baby answered my FaceTime call while she was in the crib supposedly taking a "nap". LOL
we heading back to the hotel for a quick dip in the empty pool, which was nice.
then we stopped by for dinner and that crab bisque tho!!!!!!!!!!!!!!!!!!!!!!!!!!! so so very good.
we can't wait for more adventures alone this year (because every single married couple needs it so very much).
also, you can check out our vlog of day 2 HERE...
from syreena, with love


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Troupe Workshops
The thing that has keep me doing improv for 25 years is that it's fun knowing that there's always room to learn, grow and get better.
If you're happy with the work your team is doing, I can show you how to jump quickly to the next level. If you're stuck as a group, I can give you a good hard shove to get you moving again. If you're just starting out, I can set you off in the right direction.
Group workshops are also great for challenging what you know, coming up with a new format that will showcase your skills, or adding new members to your improv family. Your goal is to make each other look good; I'd also like the chance to make you look good.
Looking forward to playing with you!
Please contact me to arrange a session.
LOCATION: Silver Spring [Forest Glen Metro Stop]
TIME: Workshops are 2 hours


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Prince George picture released to mark first birthday
An official photograph of Prince George has been released to mark his first birthday.
The prince, whose birthday is on Tuesday, was pictured at the Sensational Butterflies exhibition at London's Natural History Museum.
The image was taken a few weeks ago by the Press Association's John Stillwell.
Prince George's parents, the Duke and Duchess of Cambridge, are expected to hold a birthday party on Tuesday at their Kensington Palace apartment.
Mr Stillwell also photographed the prince's first public appearance the day after he was born and his christening last October.
"Prince George was very lively and very sure of himself and confident - a very determined young boy," he said.
Prince George Alexander Louis - known as His Royal Highness Prince George of Cambridge - was born on 22 July last year.


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Madewell Summer Sale Picks
It's a fantastic end to a week when Madewell is having an extra 40% off all SALE items. Not only does it include pure summer styles but my favorite Whisper T-shirt and Tank Tops are marked down to under $10!!! SNAG THEM UP! Below I've rounded out all of my top picks from the sale so you can easily shop. Some of these items I already own (and I mark that) and others are in my cart. I grabbed pretty much every color in the whisper items. I wear a size S in the tanks and M in the tee's (for a slightly oversized fit). ALSO, don't forget to head…View Post


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I usually do my Table Top Video Review first but in this case I decided to pump out my Field Test Shooting video ahead of it. So if you're looking for more detailed specifications then just wait a bit till I get my Table Top Review out. What you really need to know about the Umarex Morph 3X CO2 BB Gun is that it's a CO2 4.5mm BB Gun with a 30 round internal magazine sporting multiple configurations as the stock, barrel and forward stock are all removable so it can be a pistol or a rifle and many variations in-between, even more than 3X of them.
The US version of the Morph 3X CO2 BB Gun when installing the rifled barrel (Which is not rifled buy the way), will shoot faster than when the Morph 3X CO2 BB Gun is in pistol version since the add on barrel adds a lot of additional barrel length to the airgun. The Canadian version which I am testing does come with the extension rifle barrel but it is only for show as the inside is missing the 4.5mm inner barrel. This is because our Canadian import laws for uncontrolled firearms would not allow the rifle version of the Morph 3X CO2 BB Gun here in Canada as it would potentially shoot with too much fps (around 600 fps) and foot pounds of energy for our Canadian non regulated gun laws. As it stand the Canadian version of the Morph 3X CO2 BB Gun has an fps rating of 480 fps in both pistol and rifle configurations.
All that aside how did the Morph 3X CO2 BB Gun do during my testing? Awesome to be precise! It actually averaged a 5 shot Chronograph Velocity Test of 498 fps even in pistol configuration which is very impressive for a CO 2 BB gun. I also was able to get the majority of my 10 shots on a paper target positioned 30 feet away from me using a rested seated position within about 3/4 of an inch. I even played around a bit with holding the Morph 3X CO2 BB Gun out in front like a pistol and tight to my shoulder using the rear stock.
It's kind of too bad we don't have the inner rifled version here in Canada as even at 600 fps we are just under 4.2 foot pound Canadian limit but trying to explain that this is still OK to our CBSA border guards is just a little too much for them to process :) Even without the inner barrel the Morph 3X CO2 BB Gun is a really great and super versitile airgun with lots of power and just as good accuracy!


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Journal of Income Distribution
A selection of the Conference proceedings and papers presented at the Conference will be published on a Special Issue of the Journal of Income Distribution.
il Mulino
A selection of the Conference Papers focusing on Italian context and/or empirical data related to Italy will be published in Italian language by Il Mulino publishing house.
Authors of the selected papers should confirm to the Conference organizers their consent to the publication of their work in a Special Issue of the Journal of Income Distribution and/or by Il Mulino Publishing House following the Conference.


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Oh. My. Gosh!! This was just the best night! 16 wonderfully amazing ladies, donuts, hand lettering, laughing, lots of goodies, and all in West Elm which is the most gorgeous store everrrr. And did you know they do events like this all the time? So not only are they the cutest store in existence, they support local artists with is basically just the coolest thing of all time ever.
And because no one wants to scroll for days.. here are some fun photos from the night. :)
A big thanks to West Elm for letting me hold this event in their gorgeous Orange County location, Crayola for suppling some of my all time favorite markers, JuJuBe for the cutest travel case of all time to keep it all in, and Jana for snapping these some pictures of the night!
And most of all the biggest thank you of ALL time to all those that came! I seriously feel so stoked to have meet you wonderful ladies and enjoy your company for the night. Thank you thank you thank you!


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We all know the market is changing, so the question is... are you changing with it?
The real estate business is changing very fast, and if you don't update your skills to keep up with the clients, you may just be left behind. Today's clients are more tech savvy than ever before, and their expectations are different than those of their parents. Fact is, yesterday's strategies and techniques to generate business and achieve client satisfaction don't work for today's clients.
To ensure our office agents are up-to-date in their training, we have developed in-house the iREALTOR training series. It is an exclusive training series for RE/MAX Crossroads Realtors alone. This program is offered nowhere else in North America and we have been successfully running it for the past 10 years. In order to earn more, you have to learn more and to facilitate your learning we have a line-up of speakers that is absolutely fantastic. We offer a variety of training that will match today's needs in the marketplace.
Every year we have different trainers and different topics, so please come out and attend them.
This SPRING 2019, we have put together a great lineup of instructors and practical courses focused on BOOSTING YOUR SALES, ENHANCING YOUR TECH SKILLS & FORESEEING MARKET CONDITIONS.
A total of 13 training sessions have been scheduled starting on Feb 5th to April 30, 2019. Some topics include:
You need a plan. You need a coach. You need a mentor.
This training program will give you
all the tools you need for success!
Our next Seminar Series planning is underway.
This year's program consists of a specially created team that will guide and assist you over the course of next several months and into the near year. LEARN MORE, EARN MORE!
Contact us for more details if you are interested in attending! Open to Guest Real Estate Professionals*.
To see the Training Calendar, CLICK HERE
(* certain conditions may apply for non RE/MAX Crossroads members)


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Banquet menu is no longer available since june, 2018. please order from the regular menu.
Banquet Menu is the best option to host a birthday party or gathering event at Old Tbilisi Garden. Please call in advanced to reserve a table and request the banquet menu. If you have any questions about the menu, you can also call.


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Every day, thousands of teens and pre-teens succumb to the lure of illegal drinking, drug use, underage partying, drag racing, trespassing, pranking, and other dangerous activities. These days it's even harder to keep an eye on your teens than before. However, you can use technology to your advantage by spying on their cell phone.
By investing in the right software, you can spy on a cell phone with ease. This program allows you access to their text logs, call history, GPS location, and address book names. Not only can you learn where they were and what time it was when they were there, but you can make not of any suspicious acquaintances on their chat list or any activities mentioned in their texts or phone calls.
Not all spy cell phone software is the same, however. Some have different installation requirements, while others have different prices. You can learn more about which is best for you by consulting professional reviews. However, make absolutely sure that the software is compatible with different types of phones. A few essentials include Symbian S60, Android, Nokia, Samsung, iPhones, smartphones, Windows Mobile, and many others.
Even if you're not technologically educated, installing this software isn't complicated. Simply go online, follow the set of straightforward instructions online, and reboot the phone. Often it only takes a few minutes. Many parents install this on a new phone before giving it to their teen for Christmas or their birthday. You'll also be prompted to make an account where you can access the data whenever you like, day or night.
Once installed, there is no need to think about it. There is no limit as to how long the software will work-it remains in the phone's interface indefinitely. There is no need to upgrade or reinstall. No matter how many features the phone has, it will remain undetectable and safe.


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The following extract is from the novel Love in the time of cholera - it's written by one of my favourite (in fact, one of the world's favourite!) authors, Gabriel Garcia Marquez, who died last week.
The only thing Florentino Ariza salvaged from that disaster was the loving shelter of the lighthouse. He had gone there in Euclides' canoe one night when a storm at sea took them by surprise, and from that time on he would go there in the afternoons to talk to the lighthouse keeper about the innumerable marvels on land and water that the keeper had knowledge of. It was the beginning of a friendship that survived the many changes in the world. Florentino Ariza learned to feed the fire, first with loads of wood and then with large earthen jars of oil, before electrical energy came to us. He learned to direct the light and augment it with mirrors, and on several occasions, when the lighthouse keeper could not do so, he stayed to keep watch over the night at sea from the tower. He learned to know the ships by their voices, by the size of their lights on the horizon, and to sense that something of them came back to him in the flashing beacon of the lighthouse.
Excerpt from Love in the time of cholera by Gabriel Garcia Marquez page 94.
I love this passage for its magic and its memory.
Living as I do, on this wild, dog-toothed coast which has many lighthouses, I thought I'd team Gabriel Garcia Marquez's lovely words with a few of Brittany's lighthouses .... in honour of a wonderful writer.
Gabriel Garcia Marquez 1927 - 2014
Pontusval Lighthouse on the remote and stunningly beautiful Côte des Légendes, also in northwest Finistère.
Phare de Sainte Marine, attached to a stone 'Keeper's House' on the estuary opposite Bénodet, built in 1885.
On the horizon, the granite lighthouse found on the Île de Batz, near Roscoff, dominates this inhabited island which is less than 2 square miles.
Phare de Mean-Ruz, built in 1946, from pink granite. It stands on the famous Cote de Granit Rose, in Cotes d'Armor. The original lighthouse built in 1860 was destroyed during World War II, and replaced by this modern castellated design.
The small active lighthouse of Beg Léguer near Lannion, hidden in the trees. The tower height is only 8 meters, making The Phare de I'Île Vierge over 10 times taller!
La Perdrix lighthouse near Loctudy on the south Brittany coast - built in 1915, it was deactivated in 2000, but saved from demolition by local residents. (Loving the black and white checkerboard design.)
The lighthouse Saint-Mathieu is built amid the ruins of a 13th C. Benedictine abbey, the monks began showing a light from the tower of the abbey in 1692. The lighthouse and abbey, with its unique and fascinating history is open in the summer, it's awesome!
A little lighthouse with a big lampshade! I spotted this at Le Guilvinec, in south Brittany, if you know how it works, let me know!
Lighthouse resources :
Lighthouses of France: Northern Finistère
Lighthouses of France: Southern Finistère
Lighthouses of France: Northeastern Brittany
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Dr Oz: May 29, 2012 In Case You Missed It
Click on the links at the end of each item below to read recaps of the Dr Oz Show from May 29, 2012-The Top Cancer Fighting Foods Dr Oz Wants on your Grocery List. Want to learn how to stop cancer in its tracks with all natural solutions? Dr Oz reveals the essentials for every cancer-fighting grocery list.