text:
Are U.S. cotton producers willing to give up some of their safety net to harvest more of the upside from uptapped international trade? It is a paradoxical question on many minds as numerous dynamic market forces converge in the coming years.
According to Gary Taylor, president of Cargill Cotton Co., if U.S. cotton producers can hold on, biofuel and world food demand will push domestic corn and soybean prices higher. At the same time, explosive demand for fiber from China and India will require a consistent, strong supply of U.S. cotton, forcing cotton prices higher to compete for acreage.
Meanwhile as globalization and free trade take hold, crops will shift to areas where they can most cost-efficiently be grown. "And that's the way it ought to be. Sustainable food and fiber growth is what I believe we have to gain from trade."
Taylor, speaking at The Seam's cotton marketing seminar, in Tunica, Miss., said the growth of China's economy is for real and reason for U.S. producers to be optimistic.
"About 70 percent of China's 1.3 billion people live in the country. Their income is around $20 to $50 per month. They grow their own food, but have very little income. Three percent of them are moving to the city every year. When they reach the city to work, their incomes increase eight-fold to ten-fold, to $200 to $300 a month."
A large percentage of that income, up to half in some Asian countries, will be spent on food, according to Taylor, which will place a strain on the local agricultural resources. "Somebody is going to have to grow the grain. In China's case, they are covering up 1 percent to 2 percent of their land every year in concrete for parking lots, factories and housing. China used to be one of the biggest corn exporters in the world. They are now a corn importer, and it hasn't even started yet.
"The outlook for grain, soybeans and wheat is about to change big time. And we're going to have to find ways to increase yields and find new acres. Let's don't lose sight of that. China just came out some unbelievable numbers on their economic growth. It's running about 12 percent a year."
Growth of the middle class in Asia also bodes well for U.S. cotton growers, according to Taylor — witness the huge increases in global cotton consumption over the past few years. "From 1992 to 2002, world cotton consumption grew by 10 million bales. Since then, we've grown world cotton consumption 20 million bales.
"It hasn't shown up in the market, I'll give you that," Taylor said. "But think of that kind of growth going forward. Think about a 5 million-bale world consumption growth every year and having to keep up with that. That's why I'm optimistic. I really think we're into the beginning steps of the next quantum leap."
One possible wrench in the machinery could be the price of oil. As long as oil and gasoline prices remain high, ethanol production will remain feasible. Luckily, expectations are that gas and oil prices will not decline and biofuel demand will continue to grow.
Today, ethanol represents about 3 percent of total fuel use in the United States and uses 13 percent of the corn crop. By 2012, ethanol will represent about 8 percent of total fuel use and will use 39 percent of the corn crop.
As long as oil prices are above $50 a barrel, there is a good incentive to make ethanol from corn. Ethanol made from corn costs the same as gasoline when oil prices are at $40 a barrel, while ethanol made from sugar cane is equivalent to oil at less than $30 a barrel.
Improvements in seed breeding that produce higher turnout in ethanol production could move the breakeven for corn closer to $35 a barrel in oil prices.
Problems with ethanol production could start to emerge as competition among plants increases. "Be careful about investing in ethanol plants. We could have a dot.com-type bust in five years. It's important that an ethanol plant is built to scale. Most co-op plants are not. The second point is to build it in the right spot, and many co-op plants are not. People want to build it in their back yard."
An ill-conceived location might suffer from the high cost of transporting feedstock, the ethanol itself and byproducts, like DDGs. "You have to build near a distribution point. Ten years ago, all you had to do was put up a plant and you made all kinds of money. That will change when we have too many plants."
The biggest thing American farmers could lose in globalization is their safety net, Taylor acknowledged. But he's optimistic. "I don't want to see a 47-cent loan, and I don't want to see a 10 percent cut in counter-cyclical payments. Those are pretty devastating things. But I'm not sure that I'm not willing to give up some of that to harvest the upside.
"It's scary to not have that safety net. That's the paradox. We obviously want to get it done in a way that serves our agricultural interests well. But I think we're going to look back on this and wonder why we were worried about a 47-cent loan when we're selling cotton at 75 cents.
"I personally believe that the upside is far more appealing than the risk of the downside. There are paradoxes and cycles and so forth, and we're due for it. But free trade plays right into our hands. Outside of Brazil, nobody can produce cotton as cost-effectively as the United States."
e-mail: firstname.lastname@example.com


text:
Daily Show host Jon Stewart mocked the collective freak out over President Barack Obama's claim in an interview with The New Republic that he goes skeet-shooting "all the time" at Camp David.
Stewart was incredulous at Obama's claim himself — he compared Obama telling TNR of his gun-toting ways to telling Ms. Magazine of his love of NASCAR. But he also couldn't believe there was so much pining among Fox News and other media figures for the White House to release a picture.
"Why won't the black man half the country lives in fear of release a picture of himself holding a gun?" Stewart said, mockingly.
Stewart ended the segment by reading Obama a fake Dr. Seuss book entitled, "Oh, The People Who Hate You," telling Obama that no matter what he does, his critics will never be satisfied.
Watch the clip below, courtesy of Comedy Central:

subset: commoncrawl


text:
Posts Tagged 'foreclosure'
Invest in Residential Foreclosures
Las Vegas is the "Perfect Storm for Residential Investors.
2009 residential sales was a big improvement over 2008! According to GLVAR, we closed around 48,500 transactions in 2009 compared to around 28,000 in 2008. Good news, right? Not so fast. The rate of foreclosures rose from about 8.9% in 2008 to 12% in 2009. With over 3 million homes nationwide hit with foreclosure notices last year, nearly 95,000 homes or about one in 82 homes in Las Vegas was served. Las Vegas housing values have plummeted from the highs of 2004. Is this a bad market to invest in?


text:
£146,950 Fixed price
New Build Property
Help To Buy Available
Assisted Move Available
Semi Detached Villa
Guest Cloakroom
Three (3) Bedrooms
Spacious Family Lounge
Fantastic Kitchen / Family Area
Family Bathroom
"A" Rated Efficient Boiler
10 Year Zurich/NHBC Guarantee As the preferred marketing agent Scottish Property Centre is delighted to welcome to the local market the opportunity to purchase this stunning new build semi-detached property located in the serene countryside and close to the beautiful village of Caldercruix near the Town centre of Airdrie, North Lanarkshire
The property qualifies for "Help to Buy" for purchasers whom require it & "Assisted Move" for those home-sellers looking to sell their current property in order to purchase a new property, and details from ourselves are available on request
The property has accomodation over two (2) levels. On the ground-floor level we have a large, welcoming entrance hallway which feeds all the lower accomodation consisting of guest cloakroom, a bright formal family lounge with front facing views which in turn leads into a fantastic family kitchen / living / dinig area and french doors to a large rear family garden
The upper accomodation consists of three (3) spacious bedrooms and family bathroom with excellent storage space
With Caldercruix countryside and nature park on your doorstep you can enjoy an array of wildlife in the area long with many other activities such as sailing, bike rides, angling at Hillend Loch, one of Scotlands premier trout fishing locations and close by youll find the Braco equestrial centre where you can try your hand at horse riding.
There are excellent road and rail links from Caldercurix with regular trains both east and west and less than a one hour drive from Edinburgh and just over half an hour from Glasgow.
To enquire about this property, mortgage and sale options please contact Scottish Property Centre on 01236 758111
This house description is based upon information supplied by the owner, or on behalf of the owner. These property particulars are produced in good faith and do not constitute or form part of any contract. s1homes do not take any responsibility for the accuracy of the information contained in this document.


text:
Product details:
- Letter sheet: 8 sheets
- Envelope: 4 envelopes
- Sticker sheet: 1 sheet
- Size of letter sheet: 14.5cm x 18cm
- Size of envelope: 9.5cm x 14.5cm
- Crux original product. Made in Japan.
100% satisfaction guarantee
In stock
Product details:
There are no reviews yet.
Applicable for all orders equal to or over USD $30. Shipping fee is USD $6 for orders under USD $30.
Enjoy our tailored made discounts and offers for you. 100% satisfaction guarantee.
Earn BKpoints from your purchase and get various rewards and gifts from us.


text:
ROCKFORD (WIFR) -- Sunday wasn't your ordinary day at Chicago Rockford International Airport. Before any planes took off from the Forest City, a special guest made a short visit: The Prime Minister of Turkey.
"That was pretty intimidating, but he was delightful and very friendly. He was very complimentary to the airport, very appreciative of our hospitality. The entire delegation were just very very friendly and warm people", says RFD Director Mike Dunn.
The top secret visit came at 7:45 a.m. as the plane carrying Turkey Prime Recep Tayyip Erdogan and several other Turkish government officials made a fueling stop at RFD while en route to the G20 Summit in Cabo San Lucas. RFD director Mike Dunn says Turkish Airlines, the company running the flight, is one of many that use Rockford as a diversion airport, helping land RFD the high security stop.
Dunn says, "We have a pretty good relationship with Turkish Airlines and our staff has a really good relationship with Turkish Airlines. So when that call came, it was pretty easy to handle."
The Rockford Police Department and United States Secret Service helped with security during this morning's visit, keeping it under wraps until the plane left the stateline. Turkey officials say they were impressed with the hospitality they received.
"They've asked us to extend an invitation to our mayor to perhaps visit Turkey with a trade delgation from here", says Dunn.
While the stop may have been a quick one, lasting just over one hour, Dunn says RFD is ready to accommodate more government officials no matter the length of their visit to the stateline.


text:
The Colorado Rapids traded down one spot - and picked up another selection - before picking University of Louisville and Generation adidas midfiedler Marlon Hairston with their first pick in the 2014 MLS SuperDraft. Prior to the selection, Colorado traded its natural 11th pick to New England for the Revolution's 12th and 19th overall selections in the same draft.
The 19-year-old sophomore helped Louisville win the inaugural American Athletic Conference title with three goals and two assists as an attacking midfielder, earning First Team All-Conference honors in 2013. In his freshman year, he played 19 games and finished with three goals and three assists.
He was one of seven players signed to a Generation adidas deal with the League prior to the Draft and will not count against the Rapids' salary budget.
On his bio on MLSsoccer.com, Hairston is described as: "a box-to-box midfielder...he can play anywhere in the midfield or at outside back...impressive technical ability, has great range and pace, a good engine, and more strength than his frame - which is likely even slighter than listed - would indicate. Rather than just relying on speed and skill, however, Hairston has a knack for popping up in the right place at the right time, and having been given lots of freedom in Louisville's formation....With his skill on the ball, he can create a yard of space for himself to shoot or pass the ball, but can also glide by defenders. Having just finished his sophomore year, however, Hairston would be a project for any team that wanted to take him."
With the 19th selection, Colorado picked Notre Dame defender Grant van de Casteele.
Position: Midfielder
College: University of Louisville
Height: 6-0
Weight: 157
Date of Birth: March 23, 1994
Hometown: Jackson, Miss.
Citizenship: USA


text:
The full moon is a time of shedding and letting go. It is a time to release anything that is no longer serving you and step into a place of power and intention. The energy of the full moon is palpable! It is a culmination of energy, fruition, completion and celebration. This full moon yoga […]
The post Channel the Moon's Potent Energy In This Free Full Moon Yoga Class appeared first on YogiApproved.
Lets face it, a Netflix binge sesh is a guilty pleasure we all indulge in now and again. No one would fault you for a good old binge session of Friends. But if its possible to put your binge time toward something healthy, why not A no-brainer way to turn your time on the couch […]
The post These 7 Documentaries on Netflix Will Inspire You to Become Your Healthiest Self appeared first on YogiApproved.
As a vegan or vegetarian, it's so important to eat protein dense foods but you might find it difficult to eat enough food to meet your daily protein requirements. However, you might already be eating your fill of protein and not even know! Todays recommendations suggest that the average person needs about .38 grams of […]
The post A Vegans Guide to Protein: 20 Protein-Dense Foods You Should Add to Your Diet appeared first on YogiApproved.
If I was forced to choose my favorite yoga discipline to practice, it would be Kundalini Yoga hands down. I am, at heart, a Kundalini chick – it is the yoga that rocks my world. If you're wondering what is Kundalini Yoga, or if you want to deepen your understanding of this unique and incredibly […]
The post An Introduction to Kundalini Yoga appeared first on YogiApproved.
There are a lot of posture correcting products on the market but many of them fail to deliver their promised results. Is the UPRIGHT GO posture corrector just another gadget in the sea of trendy tech or does it actually deliver results We tried out the UPRIGHT GO for ourselves to find out. This review […]
The post We Tested the Popular Posture Corrector the UPRIGHT GO – Here's What You Need to Know (Video) appeared first on YogiApproved.
Item description: This Jewelry Bracelets product is by BuddhaGroove - Emanate good energy and positive vibrations whenever you wear this silk wrap bracelet. Cool hues of blue, green and aqua perfectly match the braceletââ¬â¢s message. Reclaimed metal and hand-dyed silk make this piece eco-friendly and artisan crafted. *... Learn More
Manufacturer: BuddhaGroove
Store: Buddha Groove is a leading online destination for Spiritual and Inspirational Jewelry, Buddha Statues, Meditation Mats and Malas, Singing Bowls, Ritual Items (prayer wheels, flags, incense), Zen Garden Accents, Home Decor (art, fountains, lighting), Apparel, Books and more. Catering to people seeking more Zen in their lives, Buddha Grooves collection of home accents, garden decor, and personal items serve, first and foremost, to inspire and rejuvenate the mind and body.
Category: Bracelets
You may also consider:
Copyright © 2019 - http://www.yogahmmm.com/ All Rights Reserved.
Website design by Business Edge


text:
Cage Adjustable Curtain Rod - Curtains are the most important material in windows or doors for bedrooms, living rooms, children's rooms and bathrooms in your home. And also an important element for decorating the room in your home. In addition, curtains also function to protect your privacy and your family. In other words, curtains are useful for increasing comfort and increasing the security of all occupants of the house.
The choice of model and curtain design must be exactly the right condition for your home, so the results are also maximum. For that, you need a lot of references in choosing curtains. Our website can be a reference for you to get inspiration from the design of curtains that are suitable for your room, maybe one of them is Cage Adjustable Curtain Rod.
Curtains 24 Length Kids Curtain Short Curtain Panels Drapes Inches Long Curtain Panels Leopard – Window therapy ideas, curtain ideas, curtain tips, curtain tutorial,
Curtains 24 Length Kids Curtain Short Curtain Panels Drapes Inches Long Curtain Panels Leopard – Window treatment Tips, curtain Strategies, curtain recommendations, curtain tutorial,
If You want to buy for Curtains , then Roman Finished Curtain Embroidered Rustic Curtain Blinds For Kitchen Height Liftable Gauze Small Coffee Curtain
Buy Callisto Aura 120Inch Rod Pocket Sheer Window Curtain Panel in White/Silver from Bed Bath – Window cure ideas, curtain Strategies, curtain recommendations, curtain
Blackout Curtain Lining 72 Drop Curtain Menzilperde.Net – Window procedure Strategies, curtain Strategies, curtain tips, curtain tutorial, drapery Suggestions. To use curtains or not
120 inch curtain panels 120 inch curtains bellacor, 120 inch curtains bellacor, bon rod pocket – Window treatment method Thoughts, curtain Suggestions, curtain ideas,
Tension Curtain Rods Extra Long Curtain Menzilperde.Net – Window treatment method Strategies, curtain Thoughts, curtain suggestions, curtain tutorial, drapery Concepts. To utilize curtains or
Buy Barbara Barry Sheer Tracery Rod Pocket 120Inch Window Curtain Panel in OffWhite from Bed – Window treatment Thoughts, curtain Suggestions, curtain tips, curtain
Outdoor Curtain Rod 144 Inches Curtains : Home Design Ideas ORD5wkwPmX38299 – Window therapy Strategies, curtain ideas, curtain strategies, curtain tutorial, drapery Thoughts. To
Blackout Curtain Lining 108 Curtain Menzilperde.Net – Window remedy Strategies, curtain Tips, curtain tips, curtain tutorial, drapery Tips. To employ curtains or not to


text:
Special Order
Now Viewing:
This item is noncancelable and nonreturnable.
The 26° Source Four Junior 575 Watt Black Ellipsoidal Spotlight with Stage Pin connector combines the energy-saving power of the patented HPL lamp, with a dichroic reflector and optical-quality lenses. Source Four technology provides a clean white beam for unequaled imaging, crisp pattern projection, and a bright, even field.
The Source Four Jr is perfect for - but never limited to - smaller theatre venues, churches, schools, industrials, and any other application where affordability, space-savings and high performance are the criteria.
When fitted with a 575 watt HPL bulb (available separately), this fixture will provide a beam of 102 footcandles 13.8 ft (4.2 m) in diameter, from a distance of 30 ft (9 m). It will throw 45 footcandles 20.7 ft (9.4 m) in diameter, from a distance of 45 ft (13.6 m).
This model includes a Stage Pin connector. Other models are available, with Edison Plug, Pigtail, and Twist-Lock connectors. The Source Four Junior is also available with a 36, or a 50° lens tube.
Note: Bulb not included
|375, 575 Watts
|Socket (Lampholder)
|G9, Heat Sink bi-pin
|Lens (Condenser)
|Reflector (Mirror)
|Faceted borosilicate aluminum, multi-layer dichroic coating
|M12 hole with C-clamp, safety cable optional
|Twin flat blade steel fork, 2 mounting positions
|3', fiberglass sheath, Stage Pin
|26° Tube with high contrast aspheric Lens, Stainless steel shutters
|12.3 lb (5.6 kg) with C-Clamp
|19.2 x 17.5 x 9.6" (49 x 44.5 x 24 cm) with C-Clamp
|Packaging Infotscxbyvawfyxrzbyys
|Package Weight
|16.2 lb
|Box Dimensions (LxWxH)
|24.0 x 10.0 x 10.0"


text:
Home | Sweets | Cakes | Flowers | Chocolates | Toys | Fresh Fish | Chinese Dishes | Indian Dishes | Dry Fruits | Contact us |
|Wedding Gifts
|Anniversary Gift
|Birthday Gifts
We deliver Birthday Gifts, Birthday Gift,Anniversary Gift, Wedding Gifts to Kolkata on your desired date of delivery. Send gifts to Kolkata formerly known as Calcutta to show your love, to show your care. Send flowers to congratulate someone. Offer puja at kolkata, We guarantee delivery of order. Send FlowerSend Flowers, Send Flower,Cakes, NaboBarsha gifts Chocolate, Flowers, Mother' day, father' Day, Gifts, Mother's day Gifts to kolkata, Father' day gifts to Kolkata, Send Flowers Gift to Kolkata today .
Gifts to Kolkata | Send Gifts to
Kolkata | Send Flowers to Kolkata | Flowers to India| Send Sweets to Kolkata |
Sweets to Kolkata | Send Cakes to Kolkata | Gifts to India | Send Toys to
Kolkata | Send Gifts to Kolkata | Gifts and Flowers to India | Valentine Gifts
to India| Send Anniversary Gifts to Kolkata | Send Birthday Gifts to Kolkata |
Send Gifts to India Puja Offer in kolkata, Pujo offer in Kolkata | Puja at
kalighat, Dakhineshwar,
Send Wedding gifts to Kolkata | Send Sympathy gift to Kolkata | Send Chocolate to Kolkata | Send Fish | Send Father's day Gift to Kolkata | Send Pastry, Patties to Kolkata | Send Mutton Biriyani, Chicken Biriyani Chicken Chaap,Chicken Fried Rice to Kolkata | Send Rakhi to Kolkata | Send Rakhi Gifts to Kolkata | Send Rakhi gift |Send Birthday design Cake |Send Anniversary design Cake |Send Wedding design Cake| Send Valentines Day Gifts to kolkata|Send Valentines Day Gifts to kolkata | Valentines Day Gifts to Calcutta | Friendship Day Gifts to Kolkata | Friendship Day | Gifts | Send Durgapuja Gifts to kolkata | Sewnd Durga Puja Gifts to Kolkata, Calcutta | Puja Gifts to Kolkata | Durgapuja Day | Gifts |send Durgapuja gifts to Kolkata
giftssendtokolkata.com | Sendgiftstokolkata.com | giftssendtokolkata.com | dreammatrimony.net | E-Sol | giftssendtoindia.com |
|Occassion Gifts :
|- Birthday Gifts - Wedding Gifts - Anniversary Gifts - Valentines Gifts - New Year Gifts
|Indian Festivals :
|- Durgapuja Gifts - Diwali Gifts - Ramzan Gifts - Christmas Gifts - Bhaiphonta Gifts - Rakhi Gifts
|Gift Categories :
|- Cakes - Flowers - Sweets - Indian Sarees - Dresses For Her
|Special Occassions :
|- Mothers Day Gifts - Fathers Day Gifts - Friendship Day Gifts
CCAvenue is our authorized online
retailer. We accept Visa, Mastercard, American Express and Discover/Novus
@ Copy Right 2005 Giftssendtokolkata


text:
Khronos Friday News Round Up!
It's been an incredible week hasn't it? The latest news about OpenGL rendering Zombies faster than Direct3D really got the twittersphere going! SimLab Composer 2013 adds WebGL export capability and ARM has submitted the Mali-T604 GPU for full profile OpenCL conformance. Back on the Khronos front, COLLADA still has room for you to come on over and show off your COLLADA demo at Siggraph, and we've also updated the official Khronos Siggraph event page with updated BOF schedules, and lots more sponsors for the OpenGL Party! Thank you everyone that has sponsored the party so far. Big news this year, it's OpenGL's 20th Anniversary and we'll be celebrating this momentus occasion in style.There will be lots of OpenGL legends, lots of food, drink and of course, lots and lots of prizes!


text:
The Tobago Jazz Experience (TJE) 2012 is a celebration of jazz and the indigenous music of Trinidad and Tobago and the Caribbean. Staying true to its promise of offering "much more than music" however, the Tobago Jazz Experience incorporates the cultural and historical practices that define the island of Tobago as an ideal destination.
From Saturday 21st to Sunday 29th April, 2012, visitors will embark on a musical trek through Speyside, Signal Hill, Scarborough, Castara and the Pigeon Point Heritage Park.
Early Jazz Experiences featured celebrity performers such as George Benson, Erykah Badu, Randy Crawford, Chaka Khan, Joe Sample and Trey Songz. This year, Angie Stone, Janelle Monáe and Emeli Sandé will command the stage, supported by an impressive cast of local and regional talent.
On Stone Love's first single "I Wanna Thank You" has created the perfect uptempo summer jam. Already imagining fans blasting the track at backyard cookouts or roller skating of summer whenever they played it. Angie says, "I wanted to make a song that would give people the feel of summer whenever they played it. And the fact that I got Snoop on 'I wanna Thank You' simply adds the spicy sauce to the barbecue."


text:
hello all.
bought 4 cuddlink cameras at christmas. all was well working good. then one went down low battery. camera had acid coming from battery pack. called service lady was nice. said don't use duracell batteries. It recommends them in the manual. New camera is on way I'm happy.
Today I rechecked other ones and have a error 45 one of the field camera. I changed to rayovac as recommended by support with issue on other camera. Can anyone tell me what or how i can get rid of error 45. it really can't be this much trouble to have these can it be. also i have 3 manuals with each of these and not one friggin one tells me what error45 is. Why would it not be on their website or in the book. any help is appreciated


text:
By Ari I. Weinberg
Thanks to countless deductions and credits, the federal income tax brackets are ruined.
Few people pay 10%, 15%, 25%, 28%, 33% or 35% of even their "marginal" dollar in income taxes. So, Monday's proposal from President Barack Obama is really about average tax rates.
The plan picks up on one of Warren Buffett's frequently cited notions — that the richest Americans pay a lower percent of their income in taxes than those earning far less. A progressive tax system, such as the one purportedly used in the United States, is designed to do the opposite.
The Obama Administration has posited the "Buffett rule" to guarantee that "people making more than $1 million a year should not pay a smaller share of their income in taxes than middle class families." Monday's announcement also calls for the expiration of the 2001 tax cuts, which lowered income tax rates across the board, and the 2003 tax cuts, which reduced tax rates on dividends and capital gains.
Based on effective tax rates alone, Buffett's contention is true. Of the 400 largest individual tax returns in 2008, 243 had an average tax rate under 20%. Similarly, the top 0.1% of tax filers by adjusted-gross income have had lower average tax rates relative to the top 1% of returns since 2004. Why does this happen? A mix of deductions, qualified dividends and capital gains (taxed at 15%) have helped even Warren Buffett cut his tax bill.
Here's how it works using tax returns from 2009:
- For returns reporting $100,000-$200,000 adjusted gross income, an average return had $135,000 in total income, of which $115,000 was from salaries and wages, taxed at marginal tax rates. The average return reported just over $3,000 in qualified dividends, $16,000 in net gains and $800 of tax-exempt interest. So, 15% of the income mix pays no more than a 15% tax rate.
- For returns reporting $500,000-$1,000,000 adjusted gross income, an average return had $688,000 in total income, of which $440,000 was from salaries and wages, taxed at marginal rates. The average return reported $25,000 in qualified dividends, $179,000 in net gains and $31,000 in tax-exempt interest. So, 34% of the income mix pays no more than a 15% tax rate.
As qualified dividends, capital gains and tax-exempt interest make up more of total income, the effective tax rate declines.*
How you view your own taxes, net of deductions and credits, may help you determine where you come down in the debate. Is it possible that with smart tax planning and deduction, you could whittle your effective rate down to the levels of the mega-rich. Our effective tax rate calculator will tell you how much tax you might owe and what your average tax rate is on total income. (Use your 2010 return as a guide.) And if you're still confused by the seven numbers at the beginning of this post, our marginal tax rate calculator will help you determine how much more you'd have to earn to get to the next bracket.
*For 2009, the average tax rate on a return claiming $100-$200k in adjusted gross income (the basis for the first example) paid an effective 13% tax rate. The average tax rate on a return claiming $500k-$1m in adjusted gross income (the basis for the second example) paid an effective 25% tax rate. See IRS Table 1.4.


text:
Graphic Art Design Services
How you present your brand is vital to how you are perceived by potential customers and clients. Fully Promoted understands how every aspect of your communication with customers can be affected by the smallest details. Is your branding and graphic design representing your vision and mission for the business? Does it represent your key messages? Is it inspiring customers to purchase a product or service?
The Fully Promoted design services team can help you choose the perfect fonts, colors and graphics to adequately define your brand image. We will work with you to make sure these designs are communicating who your brand is and how you do your business.
Fully Promoted provides custom, high-quality designs quickly and affordably. At Fully Promoted, you get access to thousands of award-winning, high-resolution photos and more. However, if you have your own design team, we can also work closely with them to ensure your vision is realized. We have the ability to turn your hard or soft copy images into print-ready digital files. Your local Fully Promoted design team can transform your idea into a finished design, ready to be embroidered or featured on thousands of promotional products!


text:
Today's Sale Price:
You Save:
Checking inventory..
Let your child cheer on his favorite team with this Southpaw backpack! The first day at a new school is no easy transition, so make sure the Ole Miss Rebels are there to have his back. This team-spirited backpack features a large main compartment, a front organizer pocket and an embroidered Ole Miss Rebels logo that are sure to get your little one's school year off to a great start. Make sure your young fan brings a little Ole Miss Rebels spirit with him to history, algebra and science class!
Stay updated on sales, new items and more:
© 2019 Fanatics, Inc., All Rights Reserved. No portion of this site may be reproduced or duplicated without the express permission of Fanatics, Inc.


text:
Serviços Personalizados
Links relacionados
- Citado por Google
- Similares em Google
PER: Potchefstroomse Elektroniese Regsblad
versão On-line ISSN 1727-3781
PER vol.11 no.1 Potchefstroom Jan./Mar. 2008
The righteous bankruptcy trustee: the influence of creditors on the appointment of a bankruptcy trustee from a Netherlands perspective
RD Vriesendorp
Prof Reinout Vriesendorp, Faculty of Law, University of Tilburg, This article is an adaptation of my contribution De invloed van crediteuren op de aanstelling van een integere curator, see Vriesendorp Invloed van Crediteuren 41-50, I would like to thank Colin Anderson, Andre Boraine, David Burdette, Juanita Calitz, Anneli Loubser, John Pottow, Paul Omar and Adrian Walters for providing me with useful material and information on the topic
In this contribution the topic of integrity of the bankruptcy trustee is being dealt with from a Dutch perspective, more specifically from the point of view of the creditors and their (lack of) influence on the appointment of the trustee. In this respect various questions are addressed: what does integrity or righteousness mean in the context of the appointment of a bankruptcy trustee and what do we mean when we are talking about a righteous trustee; why do we need a righteous trustee; and how do we reach our goal? After investigating the existing safeguards to prevent non-righteous persons to be enrolled or appointed as trustee, the position of the creditors is dealt with, especially with respect to their influence on the appointment of the trustee. A quick glance on various neighbouring jurisdictions, demonstrates that not much has been regulated in the Netherlands. As to the question whether or not more creditor involvement in the appointment process is required or desired, it is argued that there is no need to increase their influence because it is not to be expected that such influence will enhance the integrity of bankruptcy trustees.
1 Introduction
The 2007 annual conference organised by the Dutch insolvency practitioners association Insolad deals with the subject matter of 'De integere curator' (the righteous, incorruptible bankruptcy trustee). The first thought that came to mind was that such theme is a pleonasm and superfluous: by definition, a bankruptcy trustee (hereafter shortly referred to as 'trustee') should and must be a righteous person. Otherwise, he or she is unfit to act as such. Or is there something going wrong; are trustees sometimes not righteous? This has been suggested in the media and on the internet.
In this contribution a view is presented on the topic from a Dutch perspective, more specifically from the point of view of the creditors and their (lack of) influence on the appointment of the trustee. Their involvement with the issue of the righteousness or integrity of the trustee can be twofold: they might suffer from acts by the trustee that they consider not to be righteous, but they can also benefit from such acts. With respect to the latter, one should think of creditors who for example were involved in fraudulent conveyance transactions: their concern is to persuade the trustee to overlook those acts.
Before the issue of integrity is discussed from the perspective of the creditors, the following questions need to be addressed: what is integrity or righteousness in the context of the topic of this contribution; what is meant by 'a righteous trustee'; why do we need a righteous trustee; and how do we reach our goal (§ 2)? Next, an investigation follows of the existing safeguards to prevent non-righteous persons to be enrolled or appointed as trustees (§ 3-4). Subsequently, the position of the creditors in this respect is discussed, with a limited focus on their influence on the appointment of the trustee.
It should be noted that this contribution is based on the current Dutch legal system. However, a quick glance at various neighbouring jurisdictions, demonstrates that not much has been regulated in the Netherlands (§ 5). Finally, the question is raised whether or not more creditor involvement in the appointment process is required or desired (§ 6). It shall be argued that there is no need to increase their influence.
2 Integrity and the righteous trustee
According to the Compact Oxford English Dictionary, righteous means 'morally right or justifiable'. According to the authoritative dictionary of Van Dale in the Netherlands the Dutch noun integriteit (integrity) means: rechtschapenheid (righteousness), onschendbaarheid (immunity) and onomkoopbaarheid (incorruptibleness). Based on the Latin word integer, it refers to the notion of gaafheid (being intact, untouched), ongerept (unspoilt), niet geplunderd (not looted) and in a moral sense it means: onbeslist (undecided), verstandig (sensible, reasonable), zonder vooroordelen (without prejudice), rechtschapen (honourable), onbedorven (untainted), rein van levenswandel (clean in conduct). Paraphrasing, righteousness or integrity implies that the trustee will keep his back straight, set his course and will not be improperly influenced nor act improperly himself. He may not confuse his own interest with the interests that are entrusted to him.
The integrity of the trustee is an absolute requirement, because it is his or her duty to manage the assets of a person who is declared bankrupt by the court and to dispose of those assets for the benefit of the creditors of that person. The trustee is empowered over another person's estate who himself has been deprived of all control. The right use of his powers and the necessity of abuse by the trustee is not only relevant for the debtor and his creditors, but also required from a societal perspective. The trustee is the person whom the legislator deems fit to wind up the estate of a (legal) person which is insufficient to satisfy the claims of all the creditors. Such winding-up happens, by definition, in an environment of conflicting interests. Hence, the integrity of the trustee is a prerequisite, next to expertise and experience. A trustee should not only be competent as to the material aspects of his or her profession, but must also demonstrate behaviour on which the general public can rely without any hesitation. The latter is even more important as the trustee's remuneration generally depends on the same estate that must satisfy the creditors. This is the case in the Netherlands, where the distribution of the proceeds of the estate with respect to the trustee has priority over all other persons involved. It could raise some doubts whether such person will indeed properly subordinate his own interests to those of the person whose assets he manages or in whose interests he is appointed. Hence, integrity of the trustee is an absolute must.
The prerequisite of integrity is not restricted to one moment in time, like a photograph. It is more like a movie in a sense that integrity is required from the beginning to the end. In other words, the trustee's integrity is imperative from the moment someone informs the court that he would like to be eligible for appointment as trustee until the final statement of accounts of his last bankruptcy. Roughly speaking, this period can be divided into three phases. First of all the phase with respect to the appointment as trustee, which relates both to the application to the court for enrolment on the list of trustees in general on the one hand and the appointment in a specific bankruptcy on the other hand. The second phase deals with the behaviour of the trustee during the bankruptcy in which righteous acting by the trustee is required. He must honourably deal with the debtor's estate, which means that he must carefully manage the assets and prevent unnecessary debts of the estate to arise. This coincides with a correct treatment of all persons involved and an adequate (financial) account of his or her actions. This last aspect forms the third and final phase which relates to the termination of a specific bankruptcy: the trustee must then report on his management and administration of the estate and the financial transactions he has performed. As mentioned before, this contribution is limited to a discussion of the first phase, viz of the appointment as trustee: how can it be ensured that only righteous persons, persons of integrity, will be appointed as trustees?
3 Integrity and the appointment of trustees: enrolment by the court
As a start, it is relevant to know that Netherlands law does not have any formal requirements to be met before a person can be appointed as a trustee. Any person in theory even minors or people who lack the capacity to enter into legal acts could be appointed as trustee. Because the current Faillissementswet (NFw; Dutch Bankruptcy Act; enacted in 1893 and in force since 1896) does not contain any requirements for eligibility as trustee, it does not result in a sorting between righteous and non-righteous persons. In the Dutch insolvency practice, however, the courts almost always appoint lawyers who are members of the bar as trustees. Hence, a certain selection can be reached along this detour, because not everyone is admitted to the bar. For admission one needs to qualify, which means that one has to comply with the statutory requirements set forth in the Advocatenwet (Law on the Bar). First of all these requirements relate to knowledge and competence of the prospective member of the bar. Furthermore, his or her integrity comes into view because a formal document must be submitted, presented by the board of the municipality with respect to one's behaviour (a so-called Verklaring omtrent het gedrag; declaration on behaviour) and to the extent necessary, a declaration that one has not been subject to any disciplinary sanction[1] nor been declared bankrupt nor subject to the Wet schuldsaneringsregeling natuurlijke personen ('Wsnp'; statutory restructuring proceedings for individuals; title III NFw).[2] Furthermore, integrity is indirectly involved in the admission proceedings to the bar upon making the oath or vow at the court session.
A next possibility for assessing the integrity of a prospective trustee occurs at the time such person approaches the court with the request to be enrolled for appointment as trustee. In this respect the attitude of the courts has changed dramatically in the last decades. Previously, the court more or less as a matter of course appointed any new member of the bar almost immediately as trustee in a simple bankruptcy. Nowadays, however, this will not occur anymore. The courts will appoint persons only as trustee when they consider such person capable and sufficiently experienced to handle the bankruptcy. In the beginning a relatively short and simple extra course in Bankruptcy Law was sufficient for eligibility as trustee during the last period of the formal three-year apprenticeship of the bar. After the introduction of more difficult specialisation courses, developed by Grotius Academie and Insolad in a joint effort with universities, law firms, judges and business lawyers in the beginning of the 1990s, a tendency has arisen that the courts require successful attendance and completion of the Grotius/Insolad course or similar training as measurable start qualification.[3] Last year the courts are even further decreasing the group of persons eligible for appointment as trustee. However, it remains unclear to the outside world on the basis of which exact criteria the courts make their decisions. Through the grapevine it can be heard that some courts also consider the economics for a viable insolvency practice as a relevant factor for eligibility. By doing so, they are able to grant a sufficient number of bankruptcies to all eligible trustees to maintain accurate and adequate knowledge and experience in this area.
With respect to the courts that require certain professional training it is interesting to note that the requirements for successful completion are primarily focused on the acquisition of knowledge and practical competencies rather than a correct professional attitude. For example the prestigious Grotius/Insolad course on Insolvency law requires a sufficient mark on the average of all coursework and a sufficient result in the final oral exam.[4] Attitude and behaviour, however, are not taught and integrity in itself is not examined at all. Consequently, successful completion of this course does not provide any guarantee with respect to the integrity of the prospective trustee who requests enrolment on the list of eligible trustees.
Finally, even the Insolad-membership that some courts require or prefer for eligibility does not imply integrity of the trustee. Article 3 of the Articles of Association of Insolad requires only a minimum amount of hours spent on insolvency law and sufficient expertise on the basis of education and experience. A favourable reading of this last requirement might imply that the membership is only open to righteous trustees.
4 Integrity and the appointment as trustee in a specific bankruptcy
As described above, the first selection has been made by enrolment on the court's list of prospective trustees. The question about the integrity of the trustee becomes acute upon his appointment in a specific bankruptcy. According to paragraph 6 of the Bankruptcy Guidelines[5], the court's clerk immediately approaches the prospective trustee after the court session where the debtor has been declared bankrupt. The sole purpose is to check whether or not there is a (potential) conflict of interest. Although important, the issue of conflicting interests is only one of the aspects of integrity. In the event there is no conflict of interests "then the trustee will be appointed" according to the compelling language of this provision in paragraph 6.1. Nonetheless, this is not all: before the court's clerk approaches the prospective trustee the court has already made a selection of this person. The selection process is normally an unclear and mystic process that occurs in secrecy within the walls of the closed courtroom, where judge and clerk determine the prospective trustee to be appointed. In this process, various aspects are relevant, as I have become anecdotally aware from discussions with bankruptcy judges(-delegate). Depending on the (expected) size of the bankruptcy, earlier experiences with possible trustees (with respect to their procedural handling of the bankruptcy as well as their material treatment of the issues involved), appreciation or complaints regarding previous bankruptcies, the court decides who it will appoint. Also, the court will take into account how often the prospective trustee (or any other person of his or her law firm) has been recently appointed. Furthermore, personal preferences of the judge sometimes influence the choice of the trustee.[6] Dealing with all these aspects should result in an adequate, vigorous and trouble-free treatment of the prospective bankruptcy. In this respect integrity is presupposed, because a non-righteous person will be removed from the court's list. However, integrity as such is in itself not a touchstone anymore at this stage.
5 Role of the creditors
In this contribution to this point, creditors and their role in the appointment process have not been discussed. This is because creditors are not involved in this process in the Netherlands. Not only in the event the debtor requested its own bankruptcy in which case creditors are normally not involved at all but also if a creditor has filed for bankruptcy, his role in the appointment process is quite negligible. In the absence of the debtor against whom the petition is filed by a creditor, the court is sometimes inclined to ask the creditor for information about the debtor. Normally, however, the court does not discuss the person of the prospective trustee and certainly not his integrity with the creditor. Only after the trustee is indeed appointed and has begun his activities in the bankruptcy, the issue of his integrity starts playing a role. From that moment, creditors may approach the rechter-commissaris (judge-delegate) who supervises the trustee in the specific bankruptcy, with complaints about the (integrity of the) trustee. They can elicit an order from the judge-delegate on the basis of article 69 Fw, ordering or prohibiting certain actions with respect to the management and administration of the estate by the trustee. In the context of the integrity issue, one could think of a trustee extracting assets from the estate or the sale of assets to friends or related parties below market value.[7] Pursuant to article 73 Fw those creditors may in grievous circumstances even request the court to dismiss the trustee.[8]
All in all, the influence of the creditors with respect to the appointment of a trustee is almost absent in the Netherlands, not to mention that issues concerning the trustee's integrity are not dealt with at all. Is there no other option or do alternatives exist? What happens for example in our neighbouring countries?
5.1 Germany
Pursuant to § 56 paragraph 1 Insolvenzordnung ('InsO'; German Insolvency Act) the following person is eligible for appointment as Insolvenzverwalter (bankruptcy trustee) in our eastern neighbouring jurisdiction:
eine für den jeweiligen Einzelfall geeignete, insbesondere geschäftskundige und von den Gläubigern und dem Schuldner unabhängige natürliche Person [...], die aus dem Kreis aller zur Übernahme von Insolvenzverwaltungen bereiten Personen auszuwählen ist.[9]
However, contrary to the situation in the Netherlands, creditors in a German insolvency have a direct opportunity to exert influence on the appointment of the trustee, without being forced to use the detour of dismissal of the trustee. According to § 57 InsO the creditors can propose by majority vote in the first Gläubigerversammlung (creditors' meeting) another person to be appointed as trustee. Only if this person is considered not to be suited for handling the insolvency, the court will refrain from the appointment. The mere fact that this person has been chosen on recommendation of the largest creditor does not make him unsuitable.[10] Comparable to the Dutch situation is that the German trustee may be dismissed by the court for an important reason (§ 59 InsO). The provisions concerning appointment and dismissal in §§ 56-59 InsO form an exhaustive and exclusive system, as the German Supreme Court decided in the beginning of 2007.[11]
5.2 Belgium
The selection and appointment of the trustee is extensively dealt with in the Faillissementswet (BFw; Belgian Bankruptcy Act) of our southern neighbouring jurisdiction. Pursuant to article 11 BFw the trustee will be elected from a list of eligible persons. This group has been designated by the Rechtbank van Koophandel (Commercial Court) in accordance with article 27 BFw. Refusal to be put on that list or deletion from that list is subject to judicial review (article 28 BFw). However, only persons that are admitted to the bar may be placed on the list after completion of a special training and demonstration of their competence with regard to insolvency proceedings. One could argue that these requirements imply integrity of the trustee, as also seems to be confirmed by the provision in article 40 BFw containing the general duty of care imposed on the trustee: he must administer the bankruptcy as a 'good housefather' under supervision of the judge-delegate. With respect to the specific issue of conflicting interests, Belgian law contains an explicit and rather extensive regulation in articles 30-32 BFw: upon acceptance of his appointment, the trustee is obliged to inform the court of any activity, by himself or any of his partners or direct associates in his firm, other than acting as trustee, on behalf of the bankrupt (legal) person, its directors or representatives or any creditor during the last 18 months prior to the bankruptcy.[12] In such case the court has the discretion to forgo the appointment or if the conflicting interest appears after the appointment as trustee to dismiss the trustee (article 31 BFw) or to appoint temporarily a special trustee, the curator ad hoc (article 32 BFw). However, Belgian law does not contain any provision requiring a specific involvement of the creditors with respect to the appointment of the trustee.
5.3 France
France has a variety of insolvency proceedings in connection with the restructuring of enterprises. One of the central persons in such proceedings is the so-called mandataire judiciaire (court-appointed receiver). It is his or her duty to represent the creditors and to liquidate the assets of the enterprise.[13] Due to various scandals and excesses in the treatment of insolvencies in the last decade of the 20th century because of narrow ties between the court and certain insolvency practitioners, the insolvency legislation was amended in 2003.[14] Currently, the appointment as mandataire judiciaire requires various quality requirements to be met.[15] Pursuant to these provisions the mandataire judiciaire must be enrolled on a national list of insolvency practitioners.[16] According to article L.812-3 Code de Commerce (CdC; French Commercial Code) such person must fulfil several requirements, partly related to his nationality (French nationality or citizen of another EU-member state), partly to his behaviour (no criminal, administrative or disciplinary sanctions arising from indecent or dishonest behaviour (faits contraires à l'honneur ou à la probité) nor being subject to any of the French insolvency proceedings) and partly to his competence (successful completion of the apprenticeship in the field of insolvencies).[17] Moreover, the insolvency practitioners have adopted a code of conduct (Charte qualité des administrateurs et des mandataires judiciaires) pursuant to which they will behave conform governmental professional rules and (ethical) standards.[18]
Subsequently, the mandataire judiciaire will be appointed in a specific insolvency proceeding, provided that he demonstrates that he has not been in any way involved with the (legal) person subject to the insolvency proceeding since five years prior to his appointment.[19] It is, however, the discretion of the court to determine which mandataire judiciaire it will appoint from the national list. In this respect, creditors do not have any specific role.
6 Towards more creditor involvement in the appointment process?
Against the background of the developments in the surrounding jurisdictions one could raise the question if, and to what extent, more attention should be paid to the integrity of the trustee, as seen from the creditors' perspective and in view of the limited scope of this contribution more in particular, their involvement in the appointment process in the Netherlands. Apart from the question if such involvement would be possible (which, personally, it is thought to be), a more important question is whether such involvement would also be necessary.
A nuanced answer yes and no might be expected; however is not what is proposed. On the one hand, more involvement can be justified by the fact that an insolvency in the Netherlands will ultimately affect the value of the creditors' claims. They have entered into a relationship with the debtor who does not perform his or her obligations. Most likely, they have or should have at least some insight in the activities of the debtor. As a result, they will be the most appropriate party to choose the most successful trustee. Indeed, if they choose the wrong person, they will notice the adverse consequences in their wallet. On the other hand, more involvement of the creditors in the appointment process could result in the risk that a partial trustee might be appointed. It is not always clear who are the relevant parties, including the most important creditors, in the period just before the declaration of the bankruptcy. The concurrence of the creditors in this chaotic and hectic period often creates a situation where it might be doubtful that the trustee who is proposed by certain creditors is sufficiently impartial with respect to the interests of those creditors. This is considered a significant impediment against more creditor involvement, because it is the primary duty of the trustee to deal correctly with all creditors' often conflicting claims in accordance with their respective ranks. It is not so strange that exactly this aspect of potential conflicting interests plays a significant role in our surrounding jurisdictions. Although possible, more involvement of the creditors in the appointment process is therefore opposed.
7 Final remarks
The negative answer to the question whether creditors should become more involved in the appointment process of the trustee in the Netherlands, does not mean that the creditors should not interfere with the administration of the bankrupt estate by the trustee afterwards. To the contrary, it is their fundamental right to be involved and to keep an eye on the trustee. In the event he or she does not like such active creditors, then their appointment should not be accepted. Eventually, the judge-delegate who might get involved by too active and meddlesome creditors requesting him or her court-orders against the trustee on the basis of article 69 NFw, can and must resist such actions should they result in too much delay and extra costs. The court will and can only do so with sufficient authority, provided that trustees demonstrate an impeccable behaviour.
The same applies to the appointment process by the court. This must be a transparent and verifiable process in order to prevent partial practices, such as the ones that occurred in France at the end of last century[20] or by certain Dutch courts before our present Bankruptcy Act was enacted at the end of the 19th century.[21] Statutory provisions fail to prevent such abuse, as was already observed at that time. Such prevention is only possible if there is an attitude of candour by the court: towards the trustees, creditors, debtor and all other parties involved. However, it is not considered necessary to create a closed, well-regulated profession of insolvency practitioners, like nowadays for example in France and England. In a contribution in the Dutch Insolvency Law Review in 2005, the introduction of an autonomous disciplinary rules system for Dutch trustees has already been suggested.[22] In combination with thorough education (with exams) and practical competence requirements, such rules could justify the formation of a closed community, or at least a preference in the appointment as trustee by the court. In view of the current topic, the trustee's integrity might be added as a separate issue, although it will not require specific rules or legislation. Such rules seem quite useless where it will probably result in risky behaviour testing the boundaries, with all its consequences and only the appearance of certainty.[23] Hence, the preliminary draft for a new Dutch Insolvency Act that was presented to the Dutch Minister of Justice on November 1, 2007,[24] does not contain any provision to that extent. Moreover, such regulation of the integrity of the trustee seems superfluous. Was it not a long time ago that the famous Roman emperor Justinian, following the brilliant lawyer Ulpian, ordered that one has to live an honourable life (honeste vivere)?[25] This means that a court should not hesitate to take adequate measures in accordance with the fundamental principles of due process (such as audi alterem partem) if in a dispute between (one of) the creditors and the trustee, the latter's integrity is at stake. A person is either righteous or not there is nothing in between and a trustee is supposed to be righteous. In case a trustee lacks integrity, such person is unfit for his or her office and there can only be one remedy: he or she should not be available anymore as trustee and to the extent necessary, must be removed from any trustees' list or register.
Disciplinary Board Leeuwarden 1988 Advocatenblad
Disciplinary Board Leeuwarden "Disciplinary rulings: 27 March 1987" Advocatenblad (22 January 1988) [ Links ]
Disciplinary Board Leeuwarden 1992 Advocatenblad
Disciplinary Board Leeuwarden "Disciplinary rulings: 15 March 1991" Advocatenblad (16 January 1992) [ Links ]
Omar Reforms 111-150
Omar PJ "Reforms to the Framework of Insolvency Law and Practice in France: 1996-2006" in Broc GK and Parry R (eds) Corporate Rescue: An Overview of Recent Developments 2nd ed (Kluwer Deventer 2006) [ Links ]
Van der Feltz Geschiedenis 324
Van der Feltz GW Geschiedenis van de Faillissementswet I (De Erven F Bohn Haarlem 1896) [ Links ]
Vriesendorp 2005 TvI 11
Vriesendorp RD "Transparantie en zelfregulering: VIA Insolad naar VIS?" 2005 TvI 11 [ Links ]
Vriesendorp Invloed van Crediteuren 41-50
Vriesendorp R "De Invloed van Crediteuren op de Aanstelling van een Integere Curator" in De Ranitz SH et al (ed) De Integere Curator Insolad Yearbook 2007 (Kluwer Deventer 2007) [ Links ]
Register of legislation
Advocatenwet (Dutch Law on the Bar)
Code de Commerce (CdC) (French Commercial Code)
Faillissementswet (BFw) (Belgian Bankruptcy Act)
Faillissementswet (NFw) 1896 (Dutch Bankruptcy Act)
Insolvenzordnung (InsO) (German Insolvency Act)
Wet schuldsaneringsregeling natuurlijke personen (Wsnp) (Statutory restructuring proceedings for individuals)
Register of court cases
Arbitragehof 24 March 2004 50/2004
Hoge Raad 22 September 2006 LJN AY5700
Rechtbank 21 June 2007 LJN BA7841
Register of Internet resources
AJMJ Charte http://www.ajmj.fr/ 27 Feb
Conseil National des Administrateurs Judiciaires Charte Qualite des Administrateurs et des Mandataires Judiciaires [Found on internet] http://www.ajmj.fr/charte_qualite/38.FR.php [ [ Links ]Date of use 27 February 2008]
AJMJ Devenir mandataire de justice http://www.ajmj.fr/ 27 Feb
Conseil National des Administrateurs Judiciaires Devenir mandataire de justice [Found on internet] http://www.ajmj.fr/devenir_mandataire/33.FR.php [ [ Links ]Date of use 27 February 2008]
English Insolvency Practitioners Regulations http://www.opsi.gov.uk/ 18 Feb
English Insolvency Practitioners Regulations Statutory Instruments 2005 No 524 [Found on internet] http://www.opsi.gov.uk/si/si2005/uksi_20050524_en.pdf [ [ Links ]Date of use 18 February 2008]
Insolad http://www.insolad.nl/ 18 Feb
Insolad Praktijkregels [Found on internet] http://www.insolad.nl/overinsolad/praktijkregels [ [ Links ]Date of use 18 February 2008]
Justitie http://www.justitie.nl/ 18 Feb
Ministerie van Justitie Commissie insolventierecht Voorontwerp Insolventie Wet 2007 [Found on internet] http://www.justitie.nl/images/VoorontwerpInsolventiewet_tcm34-87549.pdf [ [ Links ]Date of use 18 February 2008]
NOVA http://www.advocatenorde.nl 16 Feb
Nederlandse Orde van Advocaten Disciplinaire uitsprake deur de Raden van Discipline en de Hof van Discipline [Found on internet] http://www.advocatenorde.nl/algemeen/organisatie/disciplinaire_uitspraken.asp [ [ Links ]Date of use 16 February 2008]
RECOFA http://www.rechtspraak.nl/ 18 Feb
Rechters-commissarissen in Faillissementen Richtlijnen voor faillissementen en surseances van betaling 2004 [Found on internet] http://www.rechtspraak.nl/NR/rdonlyres/17A7E56D-3B7A-4CC8-8663-5BBD10AB1675/0/Rrrichtlijnenjuli2004doc.pdf [ [ Links ]Date of use 18 February 2008]
[1] Almost 20 decisions of the last two decades of the Disciplinary Boards (Raden van Discipline) and the ultimate Disciplinary Court (Hof van Discipline) of the Nederlandse Orde van Advocaten (Dutch Bar Association) are related to improper behaviour by lawyers in connection with a bankruptcy or as trustee. See NOVA http://www.advocatenorde.nl 16 Feb.
[2] Art 2 Advocatenwet.
[3] The local guidelines that are published by the courts with respect to their dealing with insolvency show a mix of more or less detailed requirements for appointment. The gist, however, is that each court has limited a number of potential trustees.
[4] Art 4 of the Examination Rules of the Grotius/Insolad course.
[5] These so-called RECOFA-Richtlijnen (REchters-COmmissarissen in FAillissementen; Bankruptcy Guidelines), made up by the joint judges-delegates of all District Courts in the Netherlands who supervise individual bankruptcies were introduced in the last part of the previous century and lastly revised per RECOFA http://www.rechtspraak.nl/ 18 Feb.
[6] With the risk that the appointment of the trustee is not an impartial process, as seemed to have occurred quite often at the time of the enactment of the present Bankruptcy Act in 1893. Such risk, however, seemed and seems not to be cured with statutory measures; Van der Feltz Geschiedenis 324.
[7] Eg disciplinary rulings of the Disciplinary Board Leeuwarden of 27 March 1987 and 15 March 1991 (Disciplinary Board Leeuwarden Advocatenblad 1988 and 1992).
[8] Rechtbank (District Court) Rotterdam 21 June 2007, LJN BA7841. In Hoge Raad (Supreme Court) 22 September 2006, LJN AY5700, conflicting behaviour did not result in dismissal of the trustee, according to the preceding opinion of Advocate-General Timmerman. Available at http://www.rechtspraak.nl.
[9] Translation: "An independent individual suited to the specific case at hand, independent of the creditors and of the debtor, to be chosen from the group of persons experienced in administering insolvencies."
[10] BGH 17.7.2003 IX ZB 530/02 Bundesgerichtshof (German Supreme Court) available at http://www.bundesgerichtshof.de/.
[12] Art 30 BFw. According to the originally in 2002 amended art 30 BFw this information had to be filed with the public bankruptcy file kept by the court. The Belgian Arbitragehof (Court of Arbitration 24 March 2004, 50/2004) annulled this part of the amendment because of the disproportionality.
[13] Art L812-1 CdC.
[14] Omar Reforms 111-150.
[15] Book VIII CdC, art L812-1 ff.
[16] Art L812-1 CdC.
[17] AJMJ Devenir mandataire de justice http://www.ajmj.fr/ 27 Feb.
[18] AJMJ Charte http://www.ajmj.fr/ 27 Feb.
[19] Art L812-2 CdC.
[20] Omar Reforms 111-150.
[21] Parliamentary Report, art 13 (now 14) NFw, Van der Feltz Geschiedenis 324.
[22] Vriesendorp 2005 TvI 11.
[23] A typical example can be found in the practice rules and the discussions of these rules; see Insolad http://www.insolad.nl/ 18 Feb. According to some practitioners, these rules are mere an open door and lack a specific meaning; others consider the scope of the rules unclear. The instrument of the English Insolvency Practitioners Regulations is in my view an example of rules that overshot themselves; see English Insolvency Practitioners Regulations http://www.opsi.gov.uk/ 18 Feb.
[24] See Justitie http://www.justitie.nl/ 18 Feb.
List of abbreviations
|Faillissementswet (Belgian Bankruptcy Act)
|Bundesgerichtshof (German Supreme Court)
|Code de Commerce (French Commercial Code)
|Faillissementswet (Dutch Bankruptcy Act)
|Nederlandse Orde van Advocaten (Dutch Bar Association)
|Rechters-commissarissen in Faillissementen
|W snp
|Wet schuldsaneringsregeling natuurlijke personen


text:
Create an Account - Increase your productivity, customize your experience, and engage in information you care about.
May 27, 2019
10500 North Military Trail
View All Calendars is the default. Choose Select a Calendar to view a specific calendar. Subscribe to calendar notifications by clicking on the Notify Me® button, and you will automatically be alerted about the latest events in our community.
September 29, 2018, 5:00 PM - 9:00 PM @ Sandhill Crane Golf Club
25% off second Entree and select wines!


text:
Go Digital
Call +91-8266010600
ITI directory is an interactive platform for ITI students, ITI colleges and Entrepreneurship. This ITI directory tries to create Bridge between ITI student and industry. ITI directory is trying to best provide information of ITI colleges.
Read more
Copyright © 2019, ITI Directory
Designed by SwamiSir


text:
|Gathering Spring Flowers.
Henry John Yeend King(1855 - 1924)
Henry John Yeend King was an important Victorian genre and landscape artist. He was born in London on August 21, 1855 and began his education as a choirboy at the Temple Church. One of the artist's earliest recollections was of being locked in the building one afternoon after practice: "I had to spend the night in a cabin built of pew cushions, while my father was inquiring at every hospital in London. After three weeks' rest with a bad cold, on going back to my choral duties I was summoned to an interview with a Bencher, who, after regaling me with cake and wine, presented me with five shillings for having been a 'good boy,' and 'for not having thrown my boots through one of the stained-glass windows.' The idea of doing such a thing had never occurred to me."


text:
"Fall seven times; stand up eight," is an inspiring Japanese proverb about courage.
Antonio Inoki, a living legend in Japan who exemplifies courage -- his nickname among peers, "Moeru Toukon," translates to "The fighting spirit that burns" -- is so revered that wrestlers actually request to be slapped in the face by the man in hopes of receiving some of his bravery.
Whether any of the wrestlers in attendance at this year's WWE Hall of Fame ceremony in Phoenix, AZ, will ask to be slapped by Inoki, who is being inducted by Stan Hansen the night before Wrestlemania, remains to be seen. As the founder of the New Japan Pro Wrestling (NJPW) promotion, Inoki's matches with Hansen throughout the late '70s and early '80s were some of the bloodiest and most memorable battles in the history of Japanese wrestling. Inoki, however, was probably best known among North American fans for his bout with boxer Muhammad Ali that took place in 1976 in Tokyo -- a rare wrestler vs. boxer match.
"He was a true innovator because he went outside the lines," Stan Hansen recently told SLAM! Wrestling from his home in Waco, TX. "He would go to different countries to find different opponents around the world, and he was very innovative in that sense. And that match with Ali, Inoki was the one who put that together, and that had never been done before."
Stan Hansen was part of that historic event, as he fought WWWF champion Bruno Sammartino at Shea Stadium in New York, where the main event was the broadcast of Inoki vs. Ali from Tokyo via closed-circuit TV. And though by most accounts the contest was uneventful -- Inoki spent most of the 15-round bout on the mat ground-kicking Ali's legs -- it paved the way for the advent of Mixed Martial Arts, which would skyrocket in popularity three decades later.
WWE Hall of Famer Jim Ross remembered it well: "I invested in the Tulsa closed circuit fight between Inoki and Muhammad Ali with (Oklahoma promoter) Leroy McGuirk," Ross recently told SLAM! Wrestling in an email. "At the time, I only knew of Inoki being a huge star in Japan who was smart enough to start his own promotion, utilizing the growing TV marketplace to make him a star. Inoki exuded charisma, and his intellect and marketing abilities were uncanny."
Many of Hansen's favourite matches in his career that spanned 27 years with over 130 tours to Japan, were against Inoki either in singles matches or in tag teams, he said. "There's are several that really stand out in my memories. He was a good scientific wrestler who knew a lot of moves and he was really quick. His punches came fast, he was quick to block, very competitive and all round great wrestler."
Ross added: "(Inoki) was a great performer who became one of the top three Japanese wrestlers of all time along with Rikodozan and the great (Giant) Baba."
Hansen concurred: "There were two big stars in Japan when I was there, y'know, Inoki and Giant Baba, and I was fortunate enough to work for both of them," said Hansen who made his mark in the rings of Giant Baba's rival promotion All Japan Pro Wrestling. "Like Baba, Inoki was a household name and he even threw his hat into the political arena and got elected to their U.S. Congress' top position," said Hansen, referring to Inoki's elected role to the country's House of Councillors in 1989. During his time in office, Inoki represented his nation in meetings with the likes of Saddam Hussein and Fidel Castro. Hansen added, "Everybody in the country knew who he was."
That war cry still rings loud and clear as Hansen reflected on his violent feud with Inoki. "We wrestled all over, sometimes in tag matches where I'd team with Hogan and him with Bob Backlund. Or me with Dick Murdoch and him with Tatsumi Fujinami. I went there in January '77 when Vince McMahon Sr. booked me for New Japan Pro Wrestling, and that's when I first met Inoki."
In the years to come, Stan "The Lariat" Hansen earned a name for himself all over the world, busting heads and bashing opponents and garnering a reputation as an unpredictable, tobacco-dripping Texas wildman, nicknamed "The Bad Man from Borger, Texas."
In addition to places like Japan and Puerto Rico, Hansen also carved out a lasting reputation in North America with his brutally stiff Lariat clothesline that he used to once defeat "The Living Legend" Bruno Sammartino at Madison Square Garden, and further more break the undefeated champion's neck. In the years to come, Hansen would travel the world winning numerous singles and tag team championships, along with the AWA World Heavyweight Title.
Recognized as an ambassador for professional wrestling, Inoki brought major events to countries like China and Russia. In 1995 in Pyongyang, North Korea, in the main event of a festival that drew one of the largest live crowds to ever witness a professional wrestling match, Inoki battled Ric Flair. His retirement match in 1998 held at the Tokyo Dome drew more than 70,000 fans.
"Inoki had great vision and built an empire in a competitive genre," Ross concluded. "Inoki's legacy might be that his promotional abilities were stellar, not to mention he was a main event level star for decades. Inoki might be described as part Vince McMahon and part Hulk Hogan in that he was a promotional genius who created a lasting image of being a resilient hero."
Hansen, the consummate heel, said while wrestling in Japan, his relationship with Inoki, "was strictly business." But today, considers him a friend. "I feel honoured that they would like me to introduce him (and welcome Inoki into the WWE Hall of Fame Class of 2010)."
Marshall Ward is a visual artist, independent filmmaker, and weekly columnist with the Waterloo Chronicle. Email is welcome at firstname.lastname@example.com.


text:
Science Friday® is produced by the Science Friday Initiative, a 501(c)(3) nonprofit organization.
Science Friday® and SciFri® are registered service marks of Science Friday, Inc. Site design by Pentagram; engineering by Mediapolis.
|In the world of beer, ales are separated from lagers by their yeast. Lager yeast collects on the bottom of the fermenting vessel and ferments sugars into alcohol at lower temperatures that ale yeast, which operates at higher temperatures at the top of the fermentation vat. In new research published this week in the journal Genome Research, scientists examined the genetic sequences of 17 unique lager yeast strains from breweries in Europe and North America, tracing variations in the genetic code of those yeasts back through time. The researchers found that a key hybridization step, in which genetic information from two different yeasts combined and rearranged to yield a new 'lager yeast' organism, may have actually happened twice. The researchers found two different family groupings in the lager yeasts they studied, with one lineage associated primarily with Carlsberg breweries in Denmark and breweries in what is now Czechoslovakia, and the other family grouping connected mainly to breweries in the Netherlands, including Heineken. In this segment, we'll talk with one of the authors of the study about genetics and beer, and about the genes behind lager beer styles such as Pilsners, Märzen, Dortmunders, and Bocks. Cheers!


text:
Become a Cop >> Browse Articles >> Career Resources
10 Tricks For Picking the Right Department
Dr. Richard Weinblatt
One of the most common questions I get overseeing criminal justice and police academies is from students who want to know what law enforcement agency they should apply to. The answer is not so simple. There have long been a variety of factors to consider when deciding where to apply. This has only become more complicated by the downturn in the economy that has turned the justice job arena from a sellers market to a buyers market.
Job opportunities have become tougher to find as the law of supply and demand has reversed from a few years ago. There used to be more slots than applicants, now there are more applicants than slots. While finding the best-qualified folks is still a challenge for police chiefs and sheriffs, it certainly is easier than it has been before.
Police work is now looked upon as a steady occupation with good benefits. That is something that has become scarce for many people in this challenging economy. The numbers of those applying for police posts has skyrocketed, particularly for destination agencies that are desirable due to their reputation or location (such as Florida).
Much like the private sector, governmental entities have been impacted with shrinking revenue bases upon which to build their police personnel pools. Worse yet for those contemplating a career move into the five-0 biz is the way governmental funding cycles work. Despite what may seem to be a gradual improvement in the economy, many see the next few years as being even rougher than 2010 as one-time federal stimulus funds from the Obama administration will dry up. Tax and other governmental revenue cycles for state and local public agencies also almost always trail that of the private sector.
There are some folks I have spoken with that advocate what I'll call the shotgun approach to law enforcement applications. This has been especially true due to the desperation caused by the above factors. I do not advocate that approach. I liken that approach to applying for credit. If you get turned down a bunch of times, any prospective creditors will see all the rejections and wonder why and if they should dig further.
It is the same principle behind gas station clerks parking their own car at a gas pump later at night to simulate other potential customers comfortable pulling up. If too many folks bypass the gas station (and no one is there) or you are turned down by many agencies, any prospective target is going to want to go where others would want to go.
So, the idea is to pick wisely.


text:
HARRISBURG, Pa., June 14 (UPI) -- The natural gas industry in Pennsylvania has generated more than $1.8 billion in tax revenue in the last seven years, the Marcellus Shale Coalition said.
The state government said it collected more than $200 million in so-called impact fees tied to shale natural gas development so far this year.
State law enacted in 2010 requires natural gas producers to pay a fee to local communities where they are operating.
Marcellus Shale Coalition Chief Executive Officer Kathryn Klaber said revenue generated from natural gas production in the state has spread to "every corner" of Pennsylvania.
"While the impact fee represents a new and substantial revenue stream for local and state government agencies, the natural gas industry has also generated more than $1.8 billion in tax revenues since 2006," she said in a Thursday statement.
The Associated Petroleum Industries of Pennsylvania said the shale boom was generating "huge revenues" to the benefit of local communities.
Opposition group MarcellusProtest.org said, however, the natural gas industry is "spending millions of dollars" on "propaganda" about shale natural gas benefits.
The U.S. Energy Department said natural gas production from Marcellus shale exceeded 1 trillion cubic feet in 2011, the last year the department gathered data.


text:
Join 50,000+ entrepreneurs
winning their dream life.
Unscripted™ Entrepreneurship:
A Business That Pays More Than Money, It Pays Time.
"Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.
Forum *Official* Book DiscussionThe forum has voted to discuss this book. Grab it and let's discuss!
Influence, The Psychology of Persuasion by Robert Cialdini
Buy: Buy | Discuss: Influence: The Psychology of Persuasion(Review | Discuss)
Are you a Multipotentialite/Polymath?
Discussion in 'General Mindset, Motivation, Beliefs' started by JWM, Mar 13, 2019.
Page 1 of 3
Page 1 of 3


text:
They SyFy Channel's popular show "Ghost Hunters," where a team of paranormal experts explore places that may be haunted, will feature Rochester on Nov. 28.
In August, members of the crew explored the Central Library of Rochester and Monroe County and the subway tunnels that run underneath. Supposedly, security cameras at the library have caught ghostlike activity, such as doors mysteriously opening and closing on their own, on tape.
"Due Date With Death," the episode featuring the library, is set to air at 9 p.m. and 11 p.m.
It is not the first time the show has been to Rochester. The crew examined the spookiness of the Main Street Armory during an episode that aired last year, during its seventh season.
SyFy airs on Channel 59 on Time Warner Cable; 1072 in high definition.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email firstname.lastname@example.com.


text:
Receive a small slice of work/life balance with a 20 minute blast of effective stress relieving massage. Excellent for melting muscle tension, clearing the mind and relieving stress.
Located in the Meeting room 413 on the fourth floor, in a private, relaxing environment.
£15 for 20 minute slot. Please bring cash to your appointment. I apologise for any inconvenience.
For any further details or any questions please contact Melissa on 07731 819 621, or e mail email@example.com


text: Pike truly opened up a world of possibilities to riders with a one-bike quiver. It blurred the limits of a single crown fork, and combined trail bike weight and dual crown aggression. But for some riders, there are no limits to blur. When they go out on the trail they have no intention of walking away from anything. If it's out there, they're going to ride it. We built the new Lyrik so these riders have a fork that's always up to the task. From the world-acclaimed Charger damper to Boost 110 options and Torque Cap compatible dropouts, to its new stiffer yet lightweight chassis, Lyrik inspires confidence with just a glance. So drop in. Lyrik is ready.


text:
Stop by the City Reliquary this Friday night (September 30th) and help celebrate the two new releases out on Pegacorn Press! The 2012 Paquita Calendar and Future Tense, a comic compilation featuring 11 different artists, will be available- as well as other shenanigans. Who knows what will happen, you know?
Caroline Paquita
P.S. The event is free, but donations to the City Reliquary are always greatly appreciated. Please no BYOB, but beers can be purchased from the C.R. bar in the backyard.
P.P.S. Awesome costumes, or other forms of "dressing up," are always welcomed and encouraged.
Friday, September 30th, 2011
Brooklyn, NY 11211


text:
Phoenix Boomerang Craft - Possible Origins
Primary tabs
Publisher's Note: Received the following in my email Saturday and it was so written and illustrated that I asked and was granted permission to reprint this article here. My thanks to The Object Reporter!
The TR6 "TELOS" is designed for use as a transatmospheric, low observable reconnaissance platform with global reach and a long loiter time over target. Employing active electromagnetic, electronic and visual camouflage it is able to penetrate all currently known defensive systems from transorbital height.
Hypothetical Origin of the Unidentified "Phoenix Boomerang" Craft
The TR6 utilizes five electrogravitic generators for propulsion and is considered a "VTOL" craft not needing a runway. The landing gear is strictly for maneuvering while on the ground. The wings fold for hangar stowage. Currently there are only a handful of hangars in the world that can accept the TR6, with most of them in the US.
The entire airframe acts as a multi-band communications relay capable of directly interfacing with all current US military satellite networks. The skin employs active visual camouflage using a 'starfield' lighting pattern along with other active stealth techniques. The TELOS platform is also capable of operating in space as well as docking with military space stations via a ventral docking hatch.
This illustration is free to distribute so long as The Object Report is referenced as the source. Copyright © www.theobjectreport.com
In Use or on Drawing Board?
My website is www.earthchangepredictions.com, I invite you to visit! I write Exo-Trekking, a free online newsletter which goes outside the box of conventional thinking on UFOs, aliens, and the Unknown, an exciting contribution to current UFOlogy.
Is this the "Phoenix Boomerang"?
original oil paintings
Phoenix Boomerang

Vernon Miles


text:
Pelster needed a new logo design and created a contest on 99designs.
A winner was selected from 120 designs submitted by 31 freelance designers.
Diëtistenpraktijk Linda Pelster
I am taking over a dietition practice within a health care centre in a town in the Netherlands. Within that Health care centre I am working with GP's, and other health professionals like physiotherapists, a psychologist and nurses. I am a registered dietitian and work with a broad range of clients (obesity, diabetics, heart disease, cancer, underweight, allergies, etc). My clients can be of any age.
The logo will be used on business cards and letters for GP's and other specialists, appointment cards and brochures for my clients, all communications, markting and public relations and on my future website.
simple but original
Pure, balance, health, fresh
the whole brand name in the logo:'Diëtistenpraktijk' and 'Linda Pelster'. My name could perhaps stand out more.
Don't wants:
No fruits in logo
Not too many colors
The files I will require are:
Print file format - .ai (CMYK)
Web file format - .jpg and layered .psd (RGB)
Find out how a design contest works or learn more about our logo design services.


text: At 11:16 AM 3/22/2006, Vincent Diepeveen wrote: >----- Original Message ----- From: "Jim Lux" <James.P.Lux at jpl.nasa.gov> >> >>If it's a full custom chip, figure a "first chip" cost of $2M. (layout, a >>couple spins, etc., but assuming you know basically what the chip is >>supposed to do and how to do it) > >Most projects are indeed having a total cost of around $1M for such chips, >including programming and design and package design for >supermarkets/resellers/salesmen/stores. > >>I work with a fair number of very low volume but fairly complex chips >>(intended for space applications, but not in Class S quality grade) and >>they all seem to run about $5K to $10K each, which must be a sort of basic > >That must be something not sold in a shop then, but something intended to >cream off the university world. Those universities waste money by the >shitload, >so for them $10k is affordable handsdown. There are a lot of non-university, non-consumer small volume applications out there. IBM PCs were in that category originally (at circa $5K purchase price in 1981) and lots of businesses bought them for what, today, would be trivial applications. My first computer (that I forked out the cash for, as opposed to used) was a Z80 based machine with 48K that had a FORTRAN compiler and it was around $5K, in 1978. Hardly a consumer item in those days, but not a research curiosity either. In my case, the investment was worth it because it allowed me to develop software for a bigger machine (a CDC 7600) without burning up zillions of dollars in phone calls and buying time on a timesharing system (at $25/hr, I seem to recall..) Today, people needing things like test instruments would happily pay $5K each for a chip that made some measurement possible. I recall seeing a 2048x2047 CCD sensor for astronomical use that was something like $80K, each, in the mid 1980s, and that's hardly something that was going to sit on the shelf collecting dust. In that case, the high price was because the yield was so poor (huge die, and, as I recall, the challenge was in getting the dark current low in ALL pixels). They probably had to make dozens to get one good one. Consider something like a high speed oscilloscope with a fast A/D in the front end. There's some sort of custom ASIC in there that demultiplexes the data into a bunch of parallel memory banks (since memory doesn't work very well at 4 GHz). They might only sell a few hundred of the scopes, and they cost upwards of $100K each, so dropping in a few multithousand dollar chips isn't unreasonable, if only because it either makes something possible at all (because fast needs physically small because of speed of light issues) or makes it fit in a reasonable sized box. When you get into things like aircraft engine controllers or radar altimeters or ring laser gyros, you have another moderate volume application (hundreds or thousands of units a year) where expensive chips have a role: because their existence (at any price) makes the unit possible. Likewise with certain weapons systems where you've got an expensive widget (so the chip is a small part of the overall cost) sold in small quantities with very unique design requirements. >However for products and cards that you want to sell to ordinary people who >simply want a bit better card, a price of $10k is too much. Sure.. but my point is that there's a fairly substantial market out there for chips that cost thousands of dollars, if they meet some peculiar need, in a market that can support the cost: either because the chip enables the product in the first place, or it replaces something more expensive that already exists. It's not all government and universities providing jobs for worthy post-docs as a form of "white collar welfare" (and, heck, they did that before the IC was ever invented: I'm reading a biography of Robert Hooke, and a lot of what went on in the 1600s sounds a lot like pork barrel politics and finding jobs for favorite sons, in amongst which useful stuff got done. Nothing ever changes<grin>) In fact, the existence of the burgeoning consumer market has caused problems for the low volume markets, because the chip manufacturers aren't interested in supporting those markets, except in a "full custom million dollar spin" sort of way. I can't count the number of times I've read some article in a weekly trade magazine about some nifty new RF or digital chip that might be useful, called up the mfr, and had, as the first question, "So, how many thousand units a week will you be buying in the first 6 months?" What's an experimenter or prototyper to do? [ And this includes before I started working at JPL, where the problem is even worse, because we want space qualified low volume chips with documentation back to the sand from which the silicon was made.] FPGAs have helped a bit, but *big* FPGAs aren't cheap, and neither are the design tools to use them. And, I'm not interested in trying to find old 74LS series TTL on eBay to breadboard with in my garage. We're truly caught in a cleft stick here.. on the one hand, we can build a supercomputer (by any casual observer standards) for a few thousand bucks with parts bought entirely at WalMart, because of huge consumer volumes bringing the price down. On the other hand, if our needs can't be met by those high integration consumer products, the price to develop a solution seems to have gone up. Digression: Maybe it hasn't, though, back in 1978, I bought a $5000 computer with a hot rod CPU that cost $200.. today that would be a $600 CPU in a $15000 dollar computer. Probably a bigger factor in the "feeling" that things are more expensive for tinkering is that he opportunity cost of my labor is dramatically higher today than it was 30 years ago, so.. $50 in parts and 20 hours of labor over a weekend at $3/hr is more like $150 in parts and $2000 in labor today. The factor of 10 increase in the labor cost shifts the make/buy decision significantly. >>price for them to build small runs where there's not a huge NRE. Things >>like MOSIS (http://www.mosis.org/) (or Atmel's equivalent, the name of >>which I forget) can be less expensive, but probably not for something of >>this scale. $5K probably covers the cost of running the wafer, dicing, >>testing, and putting it in a package, in quantities of <100. >> >>So, to get the $50/chip cost, you need an order of 40,000-50,000 pieces. > >No no. 1000-5000. $2M/$50 = 40,000 pieces, and that's just the NRE... actual manufacturing cost, in that sort of volume is probably in the $10 range, so, of your $50 chip selling price, $40 goes to NRE and $10 to mfr cost, for 50,000 pieces. You can run the numbers a lot of ways, but you've still got to divvy up that million or two to get the first part out. Clearly, if you want a low price per chip, then million unit sales are the way to go, so NRE constitutes a smaller fraction of the total selling price (the graphics accelerator model...) >For 20000+ you can get the entire product including packaging down to way >smaller >money. Perhaps... you could get lucky and not need more fab spins... you could have an existing product that only needs to be modified..you could have brilliant chip designers who can design by hand and not need expensive design tools.. It IS certainly possible to produce a custom chip for less, but it's a pretty unusual circumstance, and probably not typical of a modern company with offerings like ClearSpeed's. More likely, a company starts with a smaller functionality, and builds the market that way. For instance there are some smallish companies that make custom motion control ICs that probably started with simple ASICs that could be turned into first silicon cheaply (as in you could mortgage your house to pay for it: aka "bet the farm") and they sold them at moderately high prices ($50-100 each) so they could get positive cash flow with a few thousand sales/year. That's a far cry from a worldbeater high performance computing chip with millions of transistors. >>But they're not going to even be able to cover a fraction of the >>development cost for that. But, perhaps, if they are thinking about >>"buying market share" with OPM (other people's money). It's been done, >>more than once. > >If you want to earn back your development costs with 1 client, >then you better stop producing such a product. > >Only money wasting governments want to pay that much. You don't need to earn it back with 1 client (although there ARE non-government clients willing to pay for such things).. You can do it with hundreds or thousands, but it's certainly not a consumer product at that point. And for non-consumer products, a $5K or $10K chip isn't totally unreasonable, if it meets the customer's needs. Jim


text:
0 Members and 1 Guest are viewing this topic.
For launch on PS4? Yeah there is a lack. Even when TGS hits and they announce new rpgs, it will still take awhile beyond the launch window for them to be localized.
Am I the only one who actually liked the Graces characters? Well, with the notable exception of Pascal who I hate with a passion, much like how Ashtrot feels about Rita ;) But seriously, though, I just found them more relatable than most Tales games (or most JRPGs for that matter). Asbel is pretty far from the cool and confident type of protagonist and I understand how that can be annoying for people, but a lot of the problems he deals with (at least in the first half of the game, before super magical evil, etc.) are pretty down-to-earth. Family problems (he actually has a real family, crazy I know!), trying to find he place in the world, etc. Sure nothing about him is really super original (but it's a Tales game, come on) but I still don't think that he's archetypical simple because he felt more like a real person than a generic JRPG hero. The conflict with his brother Hubert was actually believable. I also really enjoyed Malik, who starts out seeming like a straight-laced military type but then as you play you find out he actually has an awesome sense of humor (I loved pretty much all Malik-Sophie interactions) and a pretty interesting backstory. He's probably one of my favorite characters in any Tales game.I'll admit that the female characters aren't as strong. Pascal is an annoying pile of deus ex machina and Cheria is way too pure and innocent to be believable. Sophie is extremely naive, of course, but at least she has a good reason for it so I can give her a pass. And she probably gets the most character development of the bunch. Still, I didn't hate Cheria and overall I think the cast had more solid characters than bad ones.And of course the Graces f battle system is sweet. I never got bored with it.
Really when he decided to stop being a knight in order to take over for his father to just be mind boggling. He was good as a knight. He was completely unprepared for leading a region. Really his father screwed up the line of succession as Hubert clearly was the one better suited for taking his place. And I'm just going to drop this because I have limited time and I'd like to get into a Cheria rant before I run out of time.So yeah....Cheria, horrible character. She's a person who is trapped in the past and refuses to move past when she what? 8? (I suppose Asbel has this issue as well) She just is stuck in the exact same place, and she never grows. I know that her aid work is suppose to be her growth or w/e, but she just is yearning for the past and I don't recall her ever getting past that.....in fact the world just decides to grant her wish because why the hell not. Her love for Asbel? Totally just a childhood crush that really only exists because it seems like it was "expected" or something. Her and Asbel have no chemistry and could probably barely stand being in the same room as each other if it wasn't for their "pure and perfect love". Frankly I see their marriage ending up being very passive aggressive, where both of them hate each other without realizing it and staying together just because they have convinced themselves that they are in love. And goddamn it, this relationship gets way too much attention. Arggh!!!!
Whats wrong with you fools? Rita FTW. Mainly because she has been known to hurt Karol.


text:
HOUSTON, March 26, 2014 (GLOBE NEWSWIRE) -- Oceaneering International, Inc. (NYSE:OII) announced it will release first quarter 2014 earnings on Wednesday, April 23, 2014, after 5:00 p.m. Eastern (4:00 p.m. Central).
A conference call to discuss these results and the company's future business outlook is scheduled for Thursday, April 24, 2014, at 11:00 a.m. Eastern. This call will be webcast by Nasdaq OMX and can be accessed through Oceaneering's website at www.oceaneering.com/investor-relations/. An archived replay will be available starting one hour after the call ends.
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, TX 77041; Telephone 713‑329‑4670; E-Mail firstname.lastname@example.com; www.oceaneering.com.
CONTACT: Investor Relations Jack Jurkoshek, 713-329-4670 email@example.com:Oceaneering