text:
BSE:500469 | NSE:FEDERALBNKEQ | 58888:fedl | IND:Finance - Banks - Private Sector | ISIN code:INE171A01029 | SECT:Banks
Prv. Close:
Prv. Close:
The Board of Directors has immense pleasure in presenting this 84th Annual Report of The Federal Bank Limited, along with the audited financial statements for the year ended March 31, 201 5.
Financial Results Amount(Rs. in Crore)
Financial Parameters for the year ended 31 March 2015 31 March 2014
Net Interest Income 2,380.41 2,228.61
Fee and Other Income 87831 693.85
Net Revenue 3,258.72 2,922.46
Operating Expense 1,630.93 1,442.07
Operating Profit 1,627.79 1,480.39
Net Profit 1,005.75 838.89
Profit brought forward 787.36 516.38
Total Profit Available for appropriation 1,355.27
Transfer to Statutory Reserves 251.66 209.73
Transfer to Revenue Reserves 109.87 103.07
Transfer to Capital Reserves 28.76 17.95
Transfer to Investment Reserve 46.28 -
Transfer to Special Reserves 38.23
Proposed Dividend 188.49 171.06
Provision for Dividend Tax 38.37 27.87
Depreciation on Expired assets 2.31 -
Balance Carried over to Balance Sheet 787.36
Financial Position (as on)
Deposits 70,824.99 59,731.28
Advances 51,284.99 43,436.10
Total Business (Deposits Advances) 1,22,109.98 1,03,167.38
Other Borrowings 5,687.96
Investments 24,409.19 24,117.85
Total Assets ( Balance Sheet Size) 82,850.48 74,594.15
Equity Capital 171.33 171.06
Return on Total Assets (%) 1.20
Return on Equity (%) 13.77 12.80
Earnings Per Share (Rs) 9.81
Book value per share (Rs) 90.33 80.36
Operating cost to Income (%) 50.05 49.34
Capital Adequacy Ratio (%) Basel (III) 15.46 15.14
Highlights of Performance Growth in Business
Total business of your Bank reached Rs. 1 221 09.98 Cr as on 31 Mar 201 5. Total deposits increased by 1 8.57% from Rs. 59731.28 Cr in FY''14 to Rs. 70824.99 Cr in FY''15. The total advances of your Bank stood at Rs. 51 284.99 Cr at the end of the year.
Average deposit portfolio of the bank had grown by 11.43% to reach Rs. 63342.04 Cr and average advance portfolio had grown by 11.42% to reach Rs. 46689.24 Cr.
NRE deposits led the path showing a growth rate of 27.71%, an increase from Rs. 1 8973.56 Cr to Rs. 24230.90 Cr and Retail deposits followed the suit by growing @ 1 7.86 % from Rs. 57269.57 Cr to Rs. 67499.05 Cr. CASA deposits also displayed a growth of 17.11 % to reach, Rs. 21 549.57 Cr from '' 1 8400.79 Cr.
The Savings deposits of the Bank has touched to 1 7726.91 Cr by growing 1 5.98% over that of the previous fiscal of Rs.1 5284.26 Cr.
The investment portfolio of the Bank registered a growth of 1.21% to reach Rs. 24409.1 9 Cr from Rs. 2411 7.85Cr in the previous fiscal. The average investments on Y-o-Y registered a growth of 4.23% basis as compared to the previous fiscal year.
Net Profit
During the year ended March 31, 2015, your Bank clocked a net profit of Rs. 1005.75 Cr.
As a result of refinement in asset quality, the Bank could rein in the total provisioning to Rs. 622.04 Cr. This was mainly aided by a reduced loan loss provisioning of Rs. 204.35 Cr (even at a provi- sion coverage ratio of 83.94%). An amount of Rs. 51 5.29 Cr was earmarked for taxes.
Return on Average Equity and Return on Average Total Assets stood at 13.77 % and 1.32 % respectively.
Earnings per Share ( face value of Rs 2 each) of the Bank, as on 31 st Mar 201 5 was Rs. 11.75 comparable to Rs. 9. 81 in the previous year. Book value per share has increased from Rs 80.36 in FY 14 to Rs. 90.33 during FY 15.
Operating Profit
The Operating Profit of your Bank had grown as compared to previous year to reach Rs. 1 627.79 Cr
The Net Interest Margin of the Bank for the year stood at 3.27 %, despite the interest rate volatility. Net Interest Income of the Bank for the period increased to Rs. 2380.41 Cr from Rs. 2228.61 Cr. During the financial year ended 31 st March 201 5, the total non- interest income of the Bank grew to Rs. 878.31 Cr.
The fiscal year ended 2015 witnessed an increase in the total expenses of the Bank which reached Rs 6669.98 Cr from Rs.61 59.53 Cr, an increase of 8.29%. Interest expenses increased to Rs. 5039.05 Cr in FY 15 from Rs. 471 7.46 Cr in FY 14. Operating Expenses of the Bank during the fiscal year grew from Rs1442.07 Cr to Rs.1630.93 Cr. This is mainly due to increase in salary & allowances, expenses related to branches expansion etc.
The cost of deposits of the bank has come down during the year. The cost of deposits is 7.31% as compared to 7.40% in the previous year. Average Cost of all funds (Deposits Borrowings Bonds) recorded a marginal decrease and reached 7.44 % from 7.56 %. The Interest expenses as percentage to total income stood at 60.73 %. The Cost to Income ratio of the Bank stands at 50.05 % (49.34 % in FY 2014)
In the current fiscal, the CASA to Total deposits of the Bank de- creased marginally from 30.81% in FY14 to 30.43% in FY15. However, the deposit mix resulted in higher interest expense of Rs.5039.05 Cr, an increase of 6.82% over previous year.
Total income of the Bank during the fiscal year 2015 recorded 8.61 % growth to reach '' 8297.77 Cr from the previous fiscal year figure of '' 7639.92 Cr. The interest income component grew by 6.82 % Y-o-Y while other income increased to Rs. 878.31 from Rs. 693.85 Cr.
Income from advances increased by 8.70 % to reach Rs. 5446.83 Cr from Rs. 5011.08 Cr. At the same time, income from investments registered a steep rise to reach Rs. 1 835.92 Cr from Rs. 1 776.83 Cr clocking a 3.33 % annual growth.
The yield on advances stood at 11.67% and the yield on Invest- ments at 7.1 2 %. The Net Interest Margin for the fiscal year is at 3.27% as against 3.32 %, in the previous year. Focused attention on streams of fee based income and other income resulted in an increase of 26.58%. The total other income grew to Rs. 878.31 Cr in the current fiscal from Rs. 693.85 Cr in the previous fiscal.
During the fiscal year the Bank''s spread on advances (gross) de- creased to 4.36% from 4.55 % and spread on investments (gross) stood at 0.80% from 0.44 %. The Spread (net of provisions) on advance decreased to 3.92% from 4.01 % of last year.
Loan Asset Quality
In the fiscal 2014-1 5, your Bank consolidated its credit underwrit- ing processes through Hub System which was implemented a few years back. The coordinated efforts of National Credit Hub, Credit Monitoring Cells and the Stressed Assets Management Cell ensure that fresh slippages were reduced to a large extent.
The Bank''s Gross NPA and Net NPA stood at 2.04 % and 0.73% respectively as at the end of 31 st March 201 5 as against 2.46% and 0.74%, respectively during 2013-14.
The total provisions held against non-performing advances, ex- pressed as a percentage of gross NPAs amounted to 83.94 % (including technically written off accounts) at the end of FY 2014- 15.
The Bank managed its NPA portfolio prudently, by considering and executing all options viz. SARFAESI, Compromise, Lok Adalat and DRT that offered the best return to the Bank.
Provision Coverage
As on 31st March 2015, the Bank held a total provision of Rs.666.38 Cr. Provision coverage for NPAs as at 31st March 2015 stood at 63 %. As on 31st March 2015, the provision coverage ratio of the Bank, including written off accounts is 83.94 %. As per the RBI directive, Banks should hold minimum provision coverage of 70 % including technically written off accounts.
Capital Adequacy
Historically, your Bank has been strong on capital adequacy. CRAR of the Bank calculated in line with Basel III norms stood at 15.46% which is considerably higher than the 9 % stipu- lated by RBI. Of this, Tier 1 CRAR is at 14.81 %.
Share Value
Earnings Per Share (face value Rs. 2 /- each) of your Bank has in- creased from Rs. 9.81 to Rs. 11.75 during the year under review. Return on Equity during the year reached 13.77 % in the fiscal year ended 31 st March 201 5.
State of the Affairs of the Bank
Your Bank continued on its consistent performance during FY 2014-1 5 with PAT crossing the land mark figure of Rs. 1 000 Crore. The total Business of the Bank increased by 18.36% to Rs.122109.98 Cr for the year ended 31st March 2015.
There is no change in the nature of business of the Bank for the year under review. Further information on the Business overview and outlook and State of the affairs of the Bank is discussed in detail in the Management Discussion & Analysis.
Continuing the Bank''s policy of striking a fine balance between retained earnings and dividend distribution, the Board of Directors have recommended a dividend of 11 0% i.e. Rs.2.20 per Equity Share on face value of Rs. 2/- each for the year 2014-1 5 (previous year 100% i.e Rs. 2 per Equity Share) subject to the approval of the members in the ensuing Annual General Meeting. Enhancing shareholders value has always been a guiding philosophy of the Bank.
The amounts, the Bank proposes to carry to any reserves
Reserve Amount (Rs. in Crore)
Transfer to Revenue Reserve 109.87
Transfer to Statutory Reserve 251.66
Transfer to Capital Reserve 28.76
Transfer to Investment Reserve Account 46.28
Transfer to Special Reserve 35.00
There are no material changes affecting the financial position of the company which have occurred between the end of the finan- cial year of the company to which the financial statements relate and the date of the report.
There are no material orders passed by the regulators or courts or tribunals impacting the going concern status and company''s operations in future;
Being a banking company, the disclosures required as per Rule 8(5)(v)&(vi) of the Companies (Accounts) Rules,2014, read with Section 73 and 74 of the Companies Act, 201 3 are not applicable to your Bank.
Increase of Capital
The Paid Up Capital of the Bank was increased by an amount Rs. 26,86,824/- by subscription of 13,40,412 ESOS shares of Rs. 2/- each and subscription of 3000 Rights-2007 released from abeyance. The Paid up Capital of the Bank as on 31.03.201 5 is Rs.1 71,33,1 0,394/- consisting of 8566551 97 shares of Rs. 2/- each.
Employee Productivity
Business per employee of the bank during the period stood at Rs. 11.15 Crore and the profit per employee of the Bank stood at Rs. 9.38 Lakh during the fiscal.
Employee Stock Option Scheme (ESOS)
The Bank has instituted an Employee Stock Option Scheme to enable its employees including whole time Directors to participate in the future growth and financial success of the Bank. Under the Scheme 4,27,58,250 options can be granted to the employees. The Employee Stock Option Scheme is in accordance with the Securities and Exchange Board of India (Employee Stock Option and Employee Stock Purchase Scheme) Guidelines, 1999. The eligibility and number of options to be granted to an employee is determined on the basis of various parameters such as scale, designation, work performance, grades, period of service, annual fixed pay, Bank''s performance and such other parameters as decided by the Compensation Committee from time to time in its sole discretion and is approved by the Board of Directors
The Bank''s shareholders had approved the scheme for issuance of stock options to employees including whole time Directors on December 24, 201 0.
The option conversion price set has to be the closing price on the day previous to the grant date. The Compensation Com- mittee granted 1,73,60,100 options during the year 2011-12, 1,22,42,375 options during the year 2012-13, 130,47,125 options during 2013-14 and 55,78,225 options during 2014-1 5. The options granted which are non transferable, with vesting period of 1,2,3 & 4 years subject to standard vesting conditions, and must be exercised within five years from the date of vesting. As on 31 March 201 5, 14,14,692 options had been exercised and 4,05,62,093 options were in force.
Other statutory disclosures as required by the SEBI guidelines on ESOP are given in Annexure II to this report.
Investor Education and Protection Fund
As per the Companies Act 2013, dividend unclaimed for more than seven years from the date of declaration is to be transferred to Investor Education and Protection Fund. On 15.10.2014 the Bank had transferred Rs. 41,80,576/- to the above Fund, being the unclaimed dividend for the year 2007.
Expansion of Network
Your Bank has 1247 branches and 1485 ATMs as on 31st March 2015. The Bank had opened additional 73 branches and 1 26 ATMs during the year to improve its footprint throughout the country including un-banked centers as per RBI''s guidelines. The Bank had opened maximum number of branches in the states of Tamilnadu, Punjab, Gujarat, Karnataka and Maharashtra and also Kerala.
Corporate Social Responsibility CSR Policy
For us in Federal Bank reaching out to people who needs assistance is part of the values passed down by our Founder Shri K P Hormis. The objectives we intend to achieve through our CSR programs aim at developing communities and create a sustainable future for the generations to come. Our activities touch a wider footprint through areas like Health, Education, Woman empowerment, En- vironment sustainability, and other activities as permitted under Companies Act, 2013, all aimed at creating a meaningful differ- ence in the society where we live and operate in.
i. To identify and implement CSR projects aimed at uplifting the weaker sections of the social strata and to support the needy, disabled and elderly people.
ii. To empower youth, children and woman through Skill building programs
iii. To get involved in activities that can build a sustainable environ- ment for future generations
Geographical Coverage
Bank with its presence pan India, will be extending its CSR activi- ties across all geographies.
CSR Expenditure
The amount to be spent by the Bank towards CSR for FY 201 5 as per Section 135 of the Companies Act 2013 comes to Rs. 23.83 Crores. Amount spent by the Bank this year towards CSR was Rs. 7.27 Crore. Your bank is committed to increase its CSR impact including the balance amount of Rs. 16.56 Crore for FY 2015. Since long term sustainability is a key factor that will decide success of CSR programs, a steady and cautionary approach was adopted in the first year so that sufficient platform/expertise is build to take forward Bank''s CSR activities in the future.
Risk Management
The Board of Directors oversees the enterprise wide risk man- agement functions of the Bank. A separate Risk Management Committee of the Board is in place for bringing in a top to down focus on risk management. Risk management is coordinated and administered by the Integrated Risk Management Department. The Department has three dedicated divisions for credit risk, market risk and operational risk management. Treasury activi- ties are separately monitored by the Mid Office, which is a part
of Integrated Risk Management Department. Business Continu- ity plans and Information Security plans also form part of risk management functions in the Bank. Bank has also established a Transaction Monitoring Cell to provide a 360 degree surveil- lance coverage of the operations of the Bank. Risk Management policies are approved by the Board of Directors, and reviewed from time to time. Executive level risk management committees, such as Credit Risk Management Committee, Asset Liability Man- agement Committee, Operational Risk Management Committee, Business Continuity Plan Committee, Information Security Com- mittee, regularly assess the functional efficiency of the Bank in risk management and refine the policies and processes. Responsibility for identification, measurement and controlling of risk in various spheres of activities of the Bank is vested with a senior executive at the level of General Manager, who functions as the Chief Risk Officer of the Bank, reporting to the Managing Director & CEO. All material risks of the Bank, emerging in the course of its business are identified, assessed and monitored and in our opinion present- ly there is no material risk which threatens the current functioning of the Bank.
Internal Control Systems and their adequacy
The Bank has an Internal Control System, commensurate with the size, scale and complexity of its operations. The Inspection and Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Bank, its compliance with operating systems, accounting procedures and policies based on the internal audit reports. The scope and authority of the Internal Audit function is defined in the Audit Policy of the Bank.
The audit findings are discussed in the internal committees of the Bank and corrective action in their respective areas are undertaken to strengthen the controls. Significant audit observations and cor- rective actions thereon are presented to and reviewed by the Audit Committee of the Board.
Vigil Mechanism/Whistle Blower Policy
Bank has comprehensive "Fraud Risk Management Policy" and "Whistle Blower Policy" which are reviewed and updated from time to time. The Whistle Blower Policy is available in Bank''s website and Bank''s intranet site. As per the Whistle Blower Policy, Directors and employees of the Bank, customers, stakeholders, non governmental organizations (NGO) and members of general public can lodge complaints/disclosures under the scheme. Vigi- lance Department of the Bank has the twin roles of investigation of frauds and prevention of frauds. Preventive measures for en- hancing awareness of fraud risk and for promoting a culture of compliance among the employees preventive vigilance audits, vigilance workshops, circulation of modus operandi of frauds
occurred in banking industry etc are done. Bank is also promoting customer awareness on frauds especially cyber frauds through dif- ferent communication channels, as an effective tool in prevention of frauds.
Website link to Bank''s Whistle Blower Policy/ Vigil Mechanism is http://www.federalbank.co.in/documents71 01 80//44686// Whistle Blower policy.pdf/67c51 21 d-ac8d-4861 -b801 - 5a6ee891 3b4e
Subsidiary and Audited financial statements of the Bank''s Subsidiaries
Fedbank Financial Services Limited is a fully-owned subsidiary of the Bank. The audited financial statements, the Auditors Report thereon and the Board''s Report for the year ended March 31, 2015 of Fedbank Financial Services Limited, is available on the website of the Bank as required under the regulations.
Joint Venture in Life Insurance Business
The Bank''s joint venture Life Insurance Company, in associa- tion with IDBI Bank Limited and Fortis Insurance International N.V. (now Aegeas), namely IDBI Federal Life Insurance Company Limited, (erstwhile IDBI Fortis Life Insurance Company Limited) commenced operations in March 2008. Currently the Bank has a total stake of Rs. 208 Crore in the equity of the company holding 26% of the equity capital.
Corporate Governance
The Bank has adopted a Code of Corporate Governance which while taking care of and safe guarding the interest of sharehold- ers and all other stakeholders also provides good management, adoption of prudent risk management techniques. The Code of Corporate Governance and Code of Conduct for the Board of Di- rectors and Management was amended with effect from January 1 5, 201 5 with the approval of the Board to keep pace with the changing governance structure and to comply with requirements of Companies Act, 201 3, Lisitng Agreement and other regulations applicable to the Banking sector.
The Code also aims at identifying and recognizing the Board of Directors and the Management of the Bank as the principal in- struments through which good corporate governance principles are articulated and implemented, giving utmost importance to identify and recognize transparency, accountability and fair treat- ment amongst all the stakeholders, which is in tune with statutory and regulatory structures. A copy of the Code of Corporate Gov- ernance and Code of Conduct for the Board of Directors and Management is available on Bank''s website.
Board of Directors
The composition of the Board of Directors is governed by the Banking Regulation Act, 1949, the Companies Act,2013, Listing Agreement, and the Code of Corporate Governance adopted by the Bank. The Board comprises of nine Directors as on the date of this report, with rich experience and specialized knowledge in various areas of relevance to the Bank, including banking, ac- countancy, MSME, finance, small scale industry, agriculture, and information technology.
Ms. Shubhalakshmi Panse was appointed as an Additional Inde- pendent Director on the Board of the Bank w.e.f. 29.04.2014 who was appointed as an Independent Director by the shareholders of the Bank at the Annual General Meeting of the Bank held on July 17, 2014.
Dr. M.Y Khan ceased to be a director of the Bank w.e.f. 24.06.2014, on completing seventy years of age as per Code of Corporate Gov- ernance. The Board places on record their appreciation for the commendable contribution made by Dr. M.Y Khan, as a Director, during his tenure in the Bank.
Mr. Abraham Chacko, Executive Director of the Bank retired as Director from the Board of the Bank w.e.f 30.04.201 5 on comple- tion of his term of office.
Excluding the MD & CEO, all other members of the Board are Non-Executive and Independent Directors. Declaration has been obtained from the Independent Directors as required under the RBI Regulations, Listing Agreement and Companies Act. The re- muneration and other benefits paid to MD & CEO of the Bank and Executive Director during the year are disclosed in Annexure I to this Report and in Corporate Governance report. The non- executive Independent Directors apart from Prof. Abraham Koshy, are paid sitting fees for attending every meeting of the Board/ Committees of the Board within the limits as prescribed under the Companies Act, 2013. Prof. Abraham Koshy , Chairman of the Board is paid sitting fees for attending Board / Committee meetings in addition an amount of Rs. 1.25 lakhs per month as honorarium, as approved by the Board and RBI.
In compliance with the Companies Act,2013 all the existing Inde- pendent Directors of the Bank, were re-appointed as Independent Directors at the last Annual General Meeting of the Bank held on 17th July 2014 .
Mr. Shyam Srinivasan, Managing Director & Chief Executive Officer of the Bank is liable to retire at this AGM in compliance with Section 1 52 of Companies Act, 2013, regarding retirement of di- rectors by rotation. The detailed profile of Mr. Shyam Srinivasan, recommended for re-appointment in this AGM is mentioned in the Notice for the Annual General Meeting of the Bank.
Composition of Audit Committee
The Audit Committee consists of four Non-Executives, Independ- ent Directors, chaired by Nilesh S Vikamsey CA, a Non-Executive Independent Director. The Committee was re-constituted once in the financial year 2014-15.The members of the Committee are Nilesh S Vikamsey CA, Mr. Dilip G Sadarangani, Ms. Grace Koshie and Ms. Shubhalakshmi Panse who are Non-Executive In- dependent Directors. Dr. M Y Khan ceased to be a member of the Committee w.e.f. 24.06.2014. Ms. Shubhalakshmi Panse was nominated as a member w.e.f 26.06.2014.
The constitution of the Committee is in compliance with the regu- latory requirements.
The terms of reference of the Audit Committee and incorporated in the Bank''s Code of Corporate Governance, are in accordance with the listing agreements entered into by the Bank with Stock Exchanges where the Bank''s shares are listed, Companies Act, 2013 and RBI guidelines.
Independent Directors
In terms of the definition of Independence of Director as pre- scribed under Clause 49 of the Listing Agreement entered with Stock Exchanges and Section 149(6) of Companies Act, 201 3 and based on the confirmation / disclosures received from the Direc- tors, the following Directors are Independent Directors of the Bank as on the date of this report:
1. Prof. Abraham Koshy
2. CA. Nilesh S Vikamsey
3. Mr. Sudhir M Joshi
4. Mr. K M Chandrasekhar
5. Mr.Dilip G Sadarangani
6. Mr. Harish H Engineer
7. Ms. Grace Elizabeth Koshie
8. Ms. Shubhalakshmi Panse
Woman Director
In terms of the provisions of Section 149 of the Companies Act, 2013 and Clause 49 of the Listing Agreement, a company shall have at least one Woman Director on the Board of the company. Your Bank has Ms. Grace Elizabeth Koshie and Ms. Shubhalakshmi Panse as Directors on the Board of the Bank.
Bank''s policy on directors'' appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178;
A. Qualifications, Experience and knowledge
1. The Board should bring to their tasks a balanced mix of knowl- edge, skills, experience, and judgment relevant to the Bank''s policies, operations, and needs. More specifically, the Directors shall be persons having special knowledge, skills, or valuable experience in one or more fields, such as banking, finance, management, economics, law, accountancy, agriculture and rural economics, cooperative movement, trade, industry, infrastructure, engineering, and technology. At least two Di- rectors shall be persons having special knowledge or practical experience in agriculture and rural economy, cooperation, or small-scale industry.
2. The Directors should be able to devote sufficient time and at- tention to the discharge of their duties to the Bank.
3. The non-executive Directors shall preferably be in the range of 35-70 years.
B. Disqualification/Conflicts of interest
1. The Bank''s Directors shall be subject to the disqualifications/ prohibitions contained in the Companies Act 2013 and the Banking Regulation Act, 1949 with respect to directorship of companies in general or banking companies in particular.
2. A Director shall not be a director of any other company, or partner or proprietor of a firm, where such directorship, part- nership, or proprietorship involves or is likely to involve actual or potential conflicts of interest as a Director of the Bank. A Director shall promptly inform the Board/Committee of any actual or potential conflicts of interest with respect to any matter that may come up for the consideration of the Board or of any committee of which he is a member, and shall refrain from participating in a discussion on the matter.
The terms and conditions of appointment of Independent Direc- tors is disclosed on the website of the Bank and a web link thereto is : http://www.federalbank.co.in/shareholder-information
C. Criteria for determining attributes of a director
(i) integrity in personal and professional dealings.
(ii) wisdom and ability to take appropriate decisions.
(iii) ability to read and understand financial statements
iv) ability to deal with others with a sense of responsibility, firmness, and cooperation.
v) refrain from any action that would lead to loss of his inde- pendence.
D. Criteria for determining Independence of a director
The Criteria of Independence of a director is determined based on the conditions specified in Section 149 (6) of the Companies Act, 2013.
The independent director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the circumstances which may affect his status as an independent director, give a declaration that he meets the criteria of independence.
Remuneration Policy
A. Policy on remuneration to Non-Executive Di- rectors/Independent Directors
The Policy of the Bank, based on the recommendation of the Nomination & Remuneration Committee for the payment of re- muneration to Non-Executive Directors/Independent Directors of the Bank is that the Non-Executive Directors will be paid only sitting fees for attending Board and Committees of the Board which is fixed within the limits of Companies Act, 2013 and as per the Listing Agreement.
B. Policy on remuneration to MD & CEO, Execu- tive Director, Key Managerial Personnel and other employees
The Compensation / Remuneration Policy of the Bank as approved by the Board contains the policy for payment of remuneration to Executive Directors including MD & CEO, Key Managerial Person- nel and for the employees of the Bank.
As per the guidelines given by RBI, Compensation/Remuneration Policy has been designed with the following Core Principles:
Core Principles
1. Effective governance of compensation.
2. Alignment of compensation with prudent risk taking.
3. Effective supervisory oversight and stakeholder engagement.
Change in the Policy
The following has been incorporated as an objective into the Policy for effective governance of compensation.
As per Section 178 of the Companies Act, 2013, the Nomina- tion and Remuneration committee shall formulate the criteria for determining qualifications, positive attributes and independence of a Director and recommend to the Board a Policy, relating to the remuneration for the Directors, Key Managerial Personnel and
other employees. The Nomination and Remuneration committee while formulating the policy shall ensure that:
a) The level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors of the quality required to run the Company successfully
b) Relationship of remuneration to performance is clear and meets appropriate benchmarks; and
c) Remuneration to Directors, Key Managerial Personnel and Senior Management involves a balance between fixed and variable incentive pay reflecting short and long term perform- ance objectives appropriate to the working of the Company and its goals.
Monthly payment is being made to Whole Time Directors ie Managing Director & CEO and Executive Director as per terms and conditions approved by the Board and Reserve Bank of India. For Independent Directors only sitting fee is paid except to chairman of the Board to whom monthly payment is made additionally with the prior approval of Reserve Bank of India.
Compensation of Managing Director & CEO, Whole Time Directors and senior Executives (Non IBA)
The compensation paid out to the referred functionaries is divided into two components:
1. The fixed compensation is to be determined based on the industry standards, the exposure, skill sets, talent and qualifica- tion attained by the official over his/her career span. (Approval from RBI to be taken as per section 35B of the Banking Regula- tion Act while deciding the fixed and variable compensation part for Managing Director & CEO and Whole Time Directors)
2. The variable compensation for Managing Director & CEO and senior Executives (Non - IBA package) to be fixed based on organizational performance and KPAs set for the official. The organization''s performance is charted based on the revenue point index / performance scorecard which takes into account various financial indicators like revenue earned, cost deployed, profit earned, NPA position and other intangible factors like leadership and employee development. Variable pay is paid purely based on performance and is measured through Score cards for Managing Director & CEO /WTDs. The score card provides a mix of financial and non financial, quantitative and qualitative metrics. KPAs to contain targets on risk adjusted metrics such as RAROC, RARORAC, in addition to target on NPAs.
Compensation paid to Senior executives and other staff members on IBA package
The compensation paid to other officials that include Award Staff, Officers coming under Scale I to III and Senior executives coming under Scale IV to VII is fixed based on the periodic industry level settlements with Indian Bank Association. The variable compen- sation paid to functionaries is based on the Performance Linked Incentive Scheme, which has been formulated on the basis of performance parameters set in Performance Management System.
Policy on Board Diversity
Policy on Board Diversity of the bank mainly depends on the quali- fications for appointment of Directors of the Bank as contained in the Banking Regulation Act,1949 and satisfying the Fit and Proper Criteria for directors as per the regulatory requirement of RBI.
The Bank continuously seeks to enhance the effectiveness of its Board and to maintain the highest standards of corporate gov- ernance and recognizes and embraces the benefits of diversity in the boardroom. Diversity is ensured through consideration of a number of factors, including but not limited to skills, regional and industry experience, background and other qualities. In informing its perspective on diversity, the Bank also take into account factors based on its own business model and specific needs from time to time.
The Nomination Committee has responsibility for leading the process for Board appointments and for identifying and nominat- ing, for approval by the Board, candidates for appointment to the Board. The benefits of diversity continue to influence succession planning and continue to be the key criteria for the search and nomination of directors to the Board.
Board appointments are based on merit and candidates will be considered against objective criteria, having due regard for the benefits of diversity on the Board, including gender. While making Board appointments the requirement as per the Companies Act, 2013 for appointment of at least one woman director on the Board of the Bank is also considered.
Key managerial personnel who were appointed or have resigned during the year
In compliance with Section 203 of the Companies Act, 2013, Mr.Shyam Srinivasan, MD & CEO, Mr. Abraham Chacko$, Executive Director, Mr. Girish Kumar G, Company Secretary and Mr. Sampath D,CFO were designated as the Key Managerial Personnel of the Bank at the Board meeting held on July 16, 2014. Mr. Sampath. D, was appointed as officiating CFO of the Bank w.e.f. April 29, 2014.
Management Discussion and Analysis
The Management Discussion and Analysis Report for the year under review as stipulated under Clause 49 of the listing agree- ment with the Stock Exchanges in India is presented in a separate section forming part of this Annual Report.
Loans, Guarantees or Investments in Securities
Pursuant to Section 186(11) of the Companies Act, 2013 loans made, guarantees given or securities provided or acquisition of securities by a Banking company in the ordinary course of its business are exempted from disclosure in the Annual Report.
Internal Complaints Committees
Your Bank has upheld the letter and spirit contained in "The Sexual Harassment of Women at Workplace (prevention, Prohibition and Redressal) Act, 201 3" (the Act). Board of Directors had resolved to constitute Internal Complaints Committees to function as per the provisions laid down in the Act and also to support the women employees by way of counseling. Your Bank has constituted ten Internal Complaints Committees (9 at Zones and 1 at Head Office) to prevent and redress the complaints relating to Sexual Harassment and to organize workshops/ awareness programs to empower women employees while handling cases relating to Sexual Harassment. Twenty employees were identified pan India and imparted a certification programme in employee counseling. These employees form part of the Internal Complaints Committee formed in various Zones of your Bank.
a. No. of complaints received in the year 2014 : 01
b. No. of complaints disposed of during the year 2014 : 01
c. Nature of action taken by the employer/ District Officer: As per the recommendations of the committee punishment was imposed on the respondent/ erring employee.
Variations in the market capitalisation of the Bank
Variations in the market capitalisation of the Bank, Price Earnings Ratio as at the closing date of the current financial year and previous financial year is mentioned below.
FY14 FY15 Variation Variation in % Market Capitalisation 8189.61 11312.13 3122.52 38.13 (Rs. in Crores)
PE Ratio 9.76 11.24 1.48 15.16
Closing Price of Federal Bank share was Rs.132.05(Face Value Rs.2 per share) on 31/03/2015.
Year Face Premium Rate Bonus Rate Increase Increase Value (Face (2004) (Face in in % Value) 2:1 Value Amount Rs.10) Rs.2
Right 2007 10 240 250 N.A. 50 82.05 164.10% Issue
Board Evaluation
Pursuant to the provisions of the Companies Act, 201 3 and Clause 49 of the Listing Agreement, the Board has carried out an annual performance evaluation of its own performance, the directors in- dividually as well as the evaluation of the working of its various Committees.
A structured questionnaire was prepared after taking into consid- eration inputs received from the Directors, covering various aspects of the Board''s functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance.
A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on specified parameters. The performance evaluation of the Independent Directors was carried out by the entire Board other than the Independent Director Concerned. The per- formance evaluation of the Chairman and the Non Independent Directors was carried out by the Independent Directors. The Direc- tors expressed their overall satisfaction with the evaluation process but a few suggestions are being incorporated from the next year in relation to the current rating based system to a more qualitative approach.
Performance Evaluation of Non-Independent Directors (MD & CEO and Executive Director)
Attendance at the Board and Committee meetings; Presents fi- nancial reports to the board on a regular basis and submits an annual budget for board review; revision and approval; Appraises the Board regarding the organization''s financial position and operational budget so as to enable the Board to make informed financial decisions; enhancement of internal control processes; monitoring, execution of policies and encouraging suggestions, achievements of performance against budgets , leadership in de- veloping strategy & directions for their execution, implementing Board decisions across IT, Operations, HR, Audit, Risk etc, media interactions & public relations, pursuing Organisation goals, ethics, motivating & guiding employees for better performance, relationship with Industry foras / Regulatory bodies, Compliance etc
The MD,s & ED''s attendance at the Board and Committee meetings is very good; They present financial reports to the board on a regular basis and submits an annual budget for Board review; revision and approval; They regularly apprise the Board on the or- ganization''s financial position and operational budgets that aids the Board to make informed financial decisions; The Executives constantly endeavor to enhance internal control processes,monitor execution of policies and are very receptive to suggestions. The MD has adequate qualities of Leadership in developing strategy & execution for achieving them, The MD & ED adequately endeavor to Implement Board decisions and are very strong in media inter- actions and have put in large efforts in building and reinforcing the Brand and image of the bank. The MD demonstrates his com- mitment to the Organisation goals, is ethical, motivates & guides employees for better performance. His personal rapport and good relationship with industry foras / regulatory bodies, etc are high- lights and testimony of the respect and prominence of Federal Bank in the Indian banking landscape.
Performance Evaluation of Independent Directors including Chairman
Attendance at meetings of Board and Committees, Knowledge & Ethics,; Understanding of the roles, responsibilities and duties as director / Chairman; Contributions at Board/Committee meetings including on strategy and risk management;
The evaluation done brings out good attendance of Independ- ent Directors in the Board and committee meetings. They are knowledgeable , ethical and bring their respective expertise in the deliberations and make valuable contributions. They have adequate understanding of their role and responsibilities as Inde- pendent directors.
Performance Evaluation of Board and Committees
Size, composition , balance and diversity of background; Pro- portion of Independent to Non Independent Directors; Effective Participation ;candidness of communication, Ability to handle conflicts; Review of Performance / Financial Reporting / Compli- ance / other Agenda of / by Bank ; Information given to Board / Committees, Effectiveness as per Terms of Reference of Board and its committees ; Value addition ; Review of Related Party transac- tions, Potential conflicts of interests; Corporate Governance norms of conduct; flow of information to board
The structure and composition of the Board is appropriate with adequate number of Directors and a good balance of diverse pro- fessional backgrounds, business experience, industry knowledge, skills and expertise in areas vital to the Bank''s success in it''s current and future position; The proportion of independent to non-in- dependent directors is good; The Board demonstrates integrity, credibility, trustworthiness, active and effective participation at Board & Committee meetings which are held at reasonable and regular intervals;
The Board and committee processes and procedures are good with different committees reviewing different functional areas of the Bank''s operations. The Board and its Committees also reviews Bank''s performance, risk management, financial reporting, com- pliances, technology, operations with adequate frequency of meetings etc..
The flow of information to the Board and its committees is gener- ally good.
During the year nine Board Meetings were convened and held, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and also the Listing Agreement.
Director''s Responsibility Statement
The Directors have taken proper and sufficient care for the main- tenance of adequate accounting records in accordance with the provisions of the Companies Act, 201 3 for safeguarding the assets of the Bank and for preventing and detecting fraud and other ir- regularities; and the Directors have prepared the annual accounts on a going concern basis.
To the best of the knowledge of the Directors and belief and ac- cording to the information and explanations obtained by them, your Directors make the following statements in terms of Section 1 34(3)(c) of the Companies Act, 2013:
a. that in the preparation of the annual financial statements for the year ended March 31, 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;
b. that such accounting policies as mentioned in the Notes to the Financial Statements, have been selected and applied consist- ently and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank as at March 31,201 5 and of the profit of the Company for the year ended on that date;
c. that proper and sufficient care has been taken for the mainte- nance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Bank and for preventing and detecting fraud and other irregularities;
d. that the annual financial statements have been prepared on a going concern basis;
e. that proper internal financial controls were in place and that the financial controls were adequate and were operating ef- fectively;
f. that systems to ensure compliance with the provisions of all ap- plicable laws were in place and were adequate and operating effectively;
Related Party Transactions
All related party transactions that were entered into during the financial year were on arm''s length basis and were in the ordinary course of business. There are no materially related party transactions made by the Bank with, Directors, Key Managerial Personnel who may have a potential conflict with the interest of the Company at large.
Wherever related party transactions took place they were placed before the Audit Committee and also to the Board for approval. Omnibus approval of the Audit Committee will be taken on a quarterly basis for the transactions which are foreseen and of re- petitive nature, which at this juncture is not there. The policy on Related Party Transactions after the approval by the Board has to be uploaded on the Bank''s website. None of the Directors has any pecuniary relationships or transactions vis-a-vis the Bank.
Since all related party transactions entered into by the Bank were in the ordinary course of business and were on an arm''s length basis, form AOC-2 is not applicable to the Bank.
Technology and Digital Updates
The Bank has the following modes of technology related banking:
Mobile Banking
Mobile based transactions and the adoption of mobile based ap- plications is set to increase with growth in usage of smart phones over the generic phones. As part of our Mobile banking strategy we have adopted migration of existing mobile banking applica- tion to a platform based solution in order to achieve the flexibility and agility required in the mobile application development and deployment in all kinds of mobile operating systems (OS).
Introduction of industry first game changing innovations like FedBook and Scan N Pay has taken Customer Delight to unprec- edented heights redefining the benchmark of service excellence.
Fed Book is the Electronic version of a traditional bank pass book offered to Federal Bank customers free of cost. It helps customers to view all the transactions in their bank accounts.
''Scan N Pay'' is an innovative Mobile Application for inter-bank fund transfer using the IMPS (24x7) facility. By using ''Scan N Pay'', customers are freed from the hassles of keying in the details for fund transfer through IMPS. Transactions happening through ''Scan N Pay'' are executed in real time and confirmation messages are instantaneous which adds to the comfort level of Customers to use the application.
Mobile banking migration brings in the following benefits -
* UI change- Improves customer experience
* Availability of additional services to the customer
* Development management - Reduction in development time and cost due compatibility of platform across multiple mobile operating systems
* Adoption of this platform has enabled easy maintenance of applications across mobile OS due to availability of advanced change management system.
Internet Banking
As part of our technology absorption strategy our Internet Banking solution has undergone an upgrade to an advanced product version. Migration of Internet Banking solution facilitates easier interfacing with other peripheral and external systems.
Auditors Statutory Audit
M/s. Deloitte Haskins & Sells, Chartered Accountants, Chennai, and M/s. M P Chitale & Co., Chartered Accountants, Mumbai, jointly carried out the statutory central audit of the Bank during the Financial Year 2014-1 5. Additionally 1 220 number of branches were subjected to Branch Statutory Audit by 691 number of Branch Auditors. The statutory central/branch auditors audited all the branches and other offices of the Bank.
Secretarial Audit
The Board had in its meeting dated November 21, 2014, ap- pointed M/s. SVJS & Associates, Practicing Company Secretaries, to undertake the Secretarial Audit of the Bank during the Fi- nancial Year ended March 31, 2015, in compliance with the provisions of Section 204 of the Companies Act, 2013 and The Companies(Appointment and Remuneration of Managerial Per- sonnel) Rules, 2014. The Report of the Secretarial Audit Report is annexed herewith as "Annexure VI".
Awards and Accolades
Excellence in administration, business and technological advance- ment have made your Bank the recipient of a host of recognitions during FY1 5.
The year witnessed the Bank being showered with a number of awards and accolades for its HR initiatives, which included the Fourth Annual Greentech HR Award for Innovation in Recruit- ment, Fifth Asia''s Best Employer Brand Award for Innovation in Retention Strategies, Asia Training & Development Award for Ex- cellence in Training, ICE Award for Best In-house Magazine and NIB Award for Best In-house Magazine. Besides, Asia Pacific HRM Congress Awards 2014 conferred the citation of ''The CEO with HR orientation'' to Mr. Shyam Srinivasan, MD & CEO; and the citation of ''40 Most Talented HR Leaders'' and ''100 Most Talented Global HR Leaders'' to the HR Head of the Bank, Mr. Thampy Kurian.
As a recognition for innovation in Technology, the Bank won the prestigious Banking Technology Excellence Awards 2014 from the Institute for Development and Research in Banking Technology (IDRBT) in 4 out of a total of 5 categories in the mid-sized Banks segment. The Bank was adjudged as: (a) Best Bank for Use of Tech- nology for Financial Inclusion, (b) Best Bank for Social Media and Mobile Banking, (c) Best Bank for Business Intelligence Initiatives and (d) Best Bank for Best IT Team.
Apart from the above, Federal Bank won the CNBC TV1 8 Financial Inclusion Award for the work done by the Bank towards the cause of Financial Inclusion and empowerment of those at the bottom layer of the economy.
Your Bank was also chosen as the Best Bank among small banks in India in the Best Bank Survey, 2014 conducted by Business World- Price Waterhouse Coopers Combine; and as the ''Best Corporate Brand of the Year 2015'' jointly by Ernakulam Press Club and Public Relations Council of India (PRCI) - Kerala Chapter.
Consolidated Financial Statements
Pursuant to Section 1 29 of the Companies Act, 201 3, the Bank has prepared a Consolidated Financial Statements of the Bank and also of its Subsidiary, Fed bank Financial Services Limited, in the same form and manner as that of the Bank which shall be laid before the ensuing 84th Annual General Meeting of the Bank along with the laying of the Bank''s Financial Statement under sub- section (2) of Section 129 i.e. Standalone Financial Statement of the Bank.
Energy Conservation, Technology Absorption and Foreign Exchange Earnings and Outgo
Considering the nature of activities of the Bank, the provisions of Section 1 34 (3) (m) of the Companies Act, 2013 relating to con- servation of energy and technology absorption do not apply to the Bank. The Bank is, however, constantly pursuing its goal of tech- nological up gradation in a cost-effective manner for delivering quality customer service. Through its export-financing operations, the Bank supports and encourages the country''s export efforts.
Extract of Annual Return
The details forming part of the extract of the Annual Return in form MGT 9 is annexed herewith as "Annexure III".
Particulars of Employees
As required by the provisions of Section 197 read with Rule, 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the names and other particulars of the employees who were in receipt of remuneration not less than sixty lakh rupees for FY 2014-1 5 are set out in the Annexure to the Director''s Report. (Annexure I).
The ratio of the remuneration of each director to the median em- ployee''s remuneration and other details in terms of sub-section 12 of Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Mana- gerial Personnel ) Rules, 2014, are forming part of this report as Annexure VI.
Stock Exchange Information
The Bank''s Equity Shares are listed on:
1. BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 and
2. National Stock Exchange Ltd. "Exchange Plaza", Bandra - Kurla Complex Bandra East, Mumbai - 400 051.
The GDRs issued by the Bank are listed on the London Stock Exchange.
The annual listing fees have been paid to all the Stock Exchanges mentioned above.
The Board of Directors places on record its sincere thanks to the Government of India, Reserve Bank of India, various State Govern- ments and regulatory authorities in India and overseas for their valuable guidance, support and cooperation. The Directors wish to express their gratitude to Investment Banks, rating agencies and Stock Exchanges for their wholehearted support.
The Directors record their sincere gratitude to the Bank''s share- holders, esteemed customers and all other well-wishers for their continued patronage. The Directors express their appreciation for the contribution made by every employee of the Bank.
For and on behalf of the Board of Directors
Abraham Koshy Chairman of the Board
Aluva Date: 16 May 2015
Date Sources:Live BSE and NSE Quotes Service: TickerPlant | Corporate Data, F&O Data & Historical price volume data: Dion Global Solutions Ltd.
BSE Quotes and Sensex are real-time and licensed from the Bombay Stock Exchange. NSE Quotes and Nifty are also real time and licenced from National Stock Exchange. All times stamps are reflecting IST (Indian Standard Time).
By using this site, you agree to the Terms of Service and Privacy Policy.


text:
Below you will find all of the information you will need to know in order to record, present, and interact during Global Learn!
All Virtual Brief Paper Presentations are to be uploaded in PPT, PPTX, or PDF form & have the option to record audio prior to the conference.
To Upload your PPT, PPTX, or PDF file (Without video or audio):
All virtual presentations are held asynchronously throughout the conference dates. Your paper file, Powerpoint file, and recorded slides will be displayed on our online conference platform, AcademicExperts.org along with a discussion forum for participants and you to view and communicate about your presentation.
During the conference, you will also be able to view the files for all other on-location presentationsand other virtual presentations, and participate in conference discussions.
Once you have uploaded your PPT or PPT X file, you may record audio into your presentation. to recording audio, you must upload your PPT or PPT X file.
To Upload your PPT, PPTX, or PDF file (Without video or audio):
Global Learn Virtual Participants may:

subset: commoncrawl


text:
Level -112 Content: others can't stand you
OfflineSend mail to skythieves Block skythieves Invite skythieves to be your friend
|Last status update:
|Date Signed Up:
|Last Login:
|FunnyJunk Career Stats
|Comment Thumbs:
|112 total, 34 , 146
|Content Level Progress:
| 6.77% (4/59)
Level 0 Content: Untouched account → Level 1 Content: New Here
|Comment Level Progress:
| 60% (3/5)
Level -211 Comment: developing wizard powers → Level -210 Comment: developing wizard powers
|Total Comments Made:
|FJ Points:
latest user's comments
|#1 - Rule 16: If you fail in epic proportions, it may just become a…
|07/25/2013 on NEW INTERNET RULE
|#1 - Don't they always do that? [+] (24 new replies)
|07/25/2013 on I wish this would happen.
#37 - anon (07/25/2013) [-]
Only in detroit.
#5 - anon (07/25/2013) [-]
if you obey the law, the cop wont be a problem.
if treat the cop good the cop will treat you good.
#156 - thesirlawd (07/26/2013) [-]
Yeah well police are not protectors of law they are enforcers of debt.
#2 - anon (07/25/2013) [-]
I'm guessing you're one of the dipshits who says "fuck da police".
#161 - thejgwentworth (07/26/2013) [-]
#163 - anon (07/26/2013) [-]
are you fucking stupid how many cops have stabbed you in the back with a dirty needle, stole your money, raped your little sister, there is also a chance he would fucking kill you. cops are people too your view of them is warped there are good ones and bad ones the outweighs the bad. are you saying every cop you see is a bad person?
#6 - flemsdfer (07/25/2013) [-]
#140 - HarvietheDinkle (07/26/2013) [-]
What you don't seem to take into account is that you don't encounter (as many) murderers/thieves/etc. because of them.
Yes, they do do some bad things, as you mentioned. But just because the good things aren't visible doesn't mean they don't happen (for you, too).
#162 - flemsdfer (07/26/2013) [-]
I mentioned in one of my other comments that people have stolen from us, on two occasions. Both times they just had the "Oh, yeah that happens" attitude about it.
It doesn't matter how much I go on about the police over here being fat, lazy, fuckers that just fill up their ticket quota and take the rest of the time off. Everyone seems to have such a damn hard on for the police anyways
#147 - quiescat (07/26/2013) [-]
so i am not sure what neighborhoods you grew up in but as a lower income white person i was hardly in the ghettos watching the crips and bloods fight it out . yet never a day was i happy to see a cop. cops are there to clean up bodys and write tickets, by the time they show up bad things are already over and its to late for them to matter. i would cut them more slack if this was the day and age of patrolling neighborhoods or doing frankly much other then sitting around a corner trying to catch people speeding or writing parking tickets .we live in the age where cops wont go into bad neighborhoods at night. in the end every claim to fame cops might have is done by people who don't sit in a cop car
#148 - HarvietheDinkle (07/26/2013) [-]
You're grouping together every cop based on one neighborhood, it seems.
#166 - quiescat (07/26/2013) [-]
i will agree my experience is anecdotal but given the wave of commits people seem to have a lot line up with mine. unless your rich or a yourself cop they dont do shit for you and last i checked to protect and serve included every one not just the big blue gang. which is sad because when i was small i thought the badge they are given was something to have pride in
#40 - anon (07/25/2013) [-]
They are busy people, now do not misuse that gif again.
#18 - anon (07/25/2013) [-]
I have called them when someone was breaking into my garage and they told me it wasn't high on the prioty list and they wouldn't get there in time to help. I don't get why we even pay them anymore.
They don't really do shit. Also 911 isn't just for police it is emergency response, not police response, so they can say that but they don't show up anyways. The heart attack goes to the hospital not the police.
#54 - thejgwentworth (07/25/2013) [-]
Police respond to heart attacks also. Most officers have Automated External Defibrillators in the trunk of their patrol cars. Since they are already out on patrol they can usually reach the victim before Fire/EMS can get there.
#13 - flemsdfer (07/25/2013) [-]
It's all I see. The pulling over in driveways is a not too uncommon thing here, it's happened to my dad twice. There are so many horrible examples of police officers greatly abusing their higher rights and it's sickening almost. Now comparing that to how often I see or hear about a police officer bettering the community it's a landslide that they do worse than good.
No one should have more rights than another person. It's terrible.
#22 - bothemastaofall (07/25/2013) [-]
good cop = asshole to the public
#23 - pancakedroppings has deleted their comment.
#17 - flemsdfer (07/25/2013) [-]
There isn't remembering better or worse. There's just what it is. Every time I have crossed paths with a cop it has not been pleasant. Whether it's getting told on the fourth of July to "Take my sparklers back inside or else" or to roll my wheelchair on the sidewalk instead of the side of the road, regardless of there being no ramp to get onto said sidewalk. They refuse to be talked with reasonably. But when things get stolen out of our yard, or people take all the handicap parking spaces and skip right into the store and I point it out, well I need to "simmer down". Nothing gets done about it according to the damn law that's so important. Just I need to shut up so they can go back to doing whatever it is they do to pass the time between paychecks. The best experience I've had when encountering a police officer is they just kept driving by. They aren't something to be respected anymore to me. Least not here.
#10 - anon (07/25/2013) [-]
I wish I could thumb you up...
|#1 - Gardevoir, here I come. [+] (1 new reply)
|07/25/2013 on but why?
#5 - jacksipian (07/25/2013) [-]
This image was flagged 1375743545
|#255 - We don't all live in Murica. [+] (1 new reply)
|07/24/2013 on God Damn Biology Majors
|#2 - Don't underestimate us!
|07/24/2013 on Title
|#9 - It does when read in Malphite's voice
|07/23/2013 on Tittle ...
|#40 - define 'unnecessary'
|07/22/2013 on unnecessary over sexulsation
|#11 - Give up Lux, he's taken.
|07/22/2013 on Ez
|#13 - **** you Yi. You almost destroyed a glorious pair.
|07/22/2013 on Master 3D
|#14 - He has the luck of being on free week with soraka. Suck my Wis…
|07/21/2013 on Karthus free week


text:
Daily News Where you Live
Other Pamplin Media Group sites
Quilts changing lives
Canby Public Library will show quilts made by inmates of the Coffee Creek Correctional Facility in Wilsonville 32 quilts through April 30.
The Coffee Creek quilting program is run entirely by volunteers to provide a hands-on learning experience for inmates. The quilting process is a vehicle for students to learn life-enhancing skills, such as patience, perseverance and problem solving. Each student makes three quilts, two for charity and one to keep for herself or a loved one.
On Tuesday, April 29, at 6:30 p.m., Mary Ann McCammon, a quilting instructor at Coffee Creek Correctional Facility, will be at the library to talk about the program and how the public can get involved.
The quilting program is always looking for quilting instructors, fabric, and sewing machine donations.
For more information visit www.coffeecreekquilters.org or www.canbylibrary.org.


text:
Name of Male Steps in the "Flower Festival in Genzano"
Posted 26 July 2009 - 03:06 PM
Your great definitions, together with the ABT dictionary files, in slowmo, have clarified for me the issue of
grand jete vs. grand sissonne:-)
Thanks a lot.
BTW, the grand jete at the ABT dictionary site is executed by Vladimir Malakhov. He looks great in it.
Posted 26 July 2009 - 03:12 PM
It's a brilliant performance, with the characteristic Danish modesty and sweetly engaging head positions that somehow soften and tone down all hte sharpness in the legs -- his footwork is very clean and fast, and indeed some of the small steps are so quick I had to look hard to see which foot was in front. Entrechats with odd numbers end on one foot, and all of them in this dance do land on one foot.
The main characteristic of this dance is the clever alternation between steps which begin with a spring (sissonnes, entrechats) and those which begin with a brush (jete, glissade, assemble) -- this produces the fascinating laciness of the very quick steps -- and of course, the careful placing of BIG steps like the big plants in a garden, few and far between. the very big steps come at the beginning and end of the dance, with the only other big steps at the beginning of the second phrase. A long pirouette counts as a big step even though it does not leave the ground.
You're writing great, Paul, and are clearly putting feel into it.
Keep it going. This is the commentary we need in this art.
I hope that from time to time you're able to publish your opinions on a for-fee basis.
Posted 26 July 2009 - 03:43 PM
And welcome to BalletTalk!
Posted 26 July 2009 - 04:21 PM
Thomas Lund and Gudrun Bojesun in FF at the inauguration of the new theater in Copenhagen...
They're so proud of these dancers, it brings tears to my eyes.
Posted 26 July 2009 - 04:41 PM
She's definitely one of the best in the role, long lines, extension, great musicality. For once, the orchestra didn't run too fast through the female parts, as in Cojocaru's, who didn't have enough stress in some of the points, IMHO.
Posted 26 July 2009 - 08:10 PM
At the very end, the first bows are to the Royal Box.
Posted 27 July 2009 - 06:22 AM
Posted 27 July 2009 - 08:39 AM
In FF:
what are the technical names for the steps at:
3:43, seems a sissonne en place
3:48-49, that looks like a jump/saut
4:05 what kind of pirouette is that?
5:43 what kind of saut-pirouette is that, on two legs?
6:11, is that a developpe?
Posted 27 July 2009 - 09:58 AM
3:49 - Fouetté sauté en dedans
4:05 - Pirouette en dedans
5:43 - Double tour en l'air
6:11 - Pirouette terminé en écarté devant
Posted 27 July 2009 - 10:13 AM
3:48-49: fouette en l'air (other term? grand fouette? dancers usually just call this fouette for short, and it's never confused with fouettes (as in fouette turns))--unlike the related tour jete, this one keeps you on the same leg.
4:05 pirouette en dedans
5:43 double tour
6:11 develope a la seconde, out of a pirouette
Edited to add: listen to Hans, whose post came after mine--he's far more precise.
Posted 27 July 2009 - 11:45 AM
Posted 27 July 2009 - 12:11 PM
I love Bojesen's performance, too. As Hans noted, the quick, light feet and soft arms, but also her musicality and charm, all values I expect from a Bournonville work, are vividly displayed here.
Posted 27 July 2009 - 01:10 PM
3:49 - Fouetté sauté en dedans
4:05 - Pirouette en dedans
5:43 - Double tour en l'air
Thank you, gentlemen.
Any way to describe the particular position of the legs (I imagine several varieties are possible for
3:49 - Fouetté sauté en dedans: how to say his working leg is fully extended and pretty high from the hip?
4:05 - Pirouette en dedans: how to describe this particular flexion in his working knee, or alternately, the particular position of the working leg?
5:43 - Double tour en l'air: how to describe that the legs are straight, parallel and vertical (are all the tours executed this way? I doubt, but I don't know.)?
Posted 27 July 2009 - 01:32 PM
but can't resist.
I love Bojesen's performance, too. As Hans noted, the quick, light feet and soft arms, but also her musicality and charm, all values I expect from a Bournonville work, are vividly displayed here.
In terms of arms, even better is Sizova from those in this thread, IMHO, but her and Soloviev are at a terrible disantantage because of the quality of the tape, but I would encourage anyone to muster the patience and to strain their eyes:-)
She's expressing a certain ethereality that none of the others have, perhaps because of the diaphanous dress.
Posted 27 July 2009 - 01:35 PM
Danish National Treasure
Thomas Lund and Gudrun Bojesun in FF at the inauguration of the new theater in Copenhagen...
They're so proud of these dancers, it brings tears to my eyes.
Great mis-en-scene, the stage is quite small though, and crowded. That doesn't work in their favor. But that crowd is acting great, they seem to have been well stimulated for the occasion:-)
0 user(s) are reading this topic
0 members, 0 guests, 0 anonymous users
Help support Ballet Alert! and Ballet Talk for Dancers year round by using this search box for your amazon.com purchases. (If it doesn't appear below, your computer's or browser's adblockers may have blocked display):


text:
October 19 2011
Signing and delination Project
Signing and Delination Project
Signing and delineation project in Lyman County continues The South Dakota Department of Transportation's signing and delineation project in Lyman County continues as of Oct., 17. Residents and motorists may have notice crews working in the area installed new signs beside old ones, marking culverts and installing delineation markers throughout the 732 miles of primary roads maintained by Lyman County.
According to Lyman County Highway superintendent Bill Lengkeek, the prime contractor for the project, A&H Contracting of Ironton, Minnesota, has completed approximately two-thirds of the project, which will include about 1,000 new signs. Funded by Federal Highway dollars, the project will update or replace current signing to bring it into compliance with the 2009 Manual on Uniform Traffic Control Device.
The signs are a high density grade material. "No county funds are being used," said Lengkeek. "All road signs need to be up to Federal Standards by 2013 or we would risk losing future Federal Highway dollars." County employees will be responsible for removing and disposing of the old signs. Lengkeek stated that the county will keep signs in good condition and recycle the rest as scrap metal. Lengkeek stated that the project is intended to improve safety for county drivers.
- Lyman County law enforcement officers recognized
- Presho's Sidewalk Project presented to public
- Lyman Alumni Reunion set for July 30
- New members seated on School Board
- Deer Camp available for first time Youth Deer Hunters
- Railraod crossings being replaced along DSR
- DIY for the 4th of July
- Slow down, kids at play
- "Knee high by the 4th of July"
- Vivian to host local 4th of July Celebration
- Unofficial School Board election results


text:
Many people remember I think this shot..
And yes this is my first idea that I want to put on Photoshop of a Student Interface. Today I came with a new design of this interface , with new ideas and I hope that someone will see it :)
I have to thank everyone that comment and give feedbacks on every shot I make , we are now 1,255 and I'm very happy for that.
Remember that you have , or better must, share your passion!
Feedback is always welcome!
Remember to take a look for a larger view at real_pixels
Cheers, and thanks again followers!
keyboard shortcuts:
L or F like
Z toggle zoom
post comment
Show and tell for designers
What are you working on? Dribbble is a community of designers sharing screenshots of their work, process, and projects.
Copyright © 2009–2016 Dribbble LLC. All screenshots © their respective owners. Shipped from Salem, Mass. USA.


text:
Me to have and RV - trailer set for this hobby have been 50 years in this hobby !!!!! Doolittler
If this is your first visit, please click the Sign Up now button to begin the process of creating your account so you can begin posting on our forums! The Sign Up process will only take up about a minute of two of your time.
Type: Posts; User: doolittles
Me to have and RV - trailer set for this hobby have been 50 years in this hobby !!!!! Doolittler
This is nuts , you people complain about your diapers changed !!!!! Its not the AMA that needs change its your government that needs to go !!!!!
next we all will need papers to go from one state...
OK this is stupid , but here go's i was using CA out of a new bottle and a few dopes fell on my pants ! I did not know that had happen until i got up from my work bench to go to the bath room , to...
Hi JET Guys was wondering if anyone has had any experience with Skymaster X-treme RAFALE ? Can it fly and land off grass,How do;s it fly in general,is a hand full ?
IS the Rafale a good kit , and...
Hi Fidel read though your forum , Sorry for your lost. It sound to me its not the Turbine that cause you to crash, but the servo on the Elevator did that ! And your upset that you have lost the...
Hi Guy maybe a Gyro on the Rudder ! It did on my T/F P-40 love to fly it . It was nuts with out the Gyro for ground take off and landings!!
I think the blame is mostly to the people that just like to bash others ! And some of Management failers ! Its to bad this use to be a great soure of information on engine, plane , scale builds...
Ok not that bad ! go to store get a bag of kitty litter and a pound of coffee mix the 1 lb coffee to1lb of kitty litter , and pull your carpets up dump it on the carpet and your floor , rub it all in...
Hi Guys has anyone assually flown the Top flite FW 190 ? And how does it fly ! thanks
:cool: cool
It to bad that all this energy go'es for AMA . When we should be replace the issue in Washington ALL of them !!
Hi my club where we fly is very wooded . it only make sense to all of us one to have a club fire extingisher ,and all flyer have their own !
Welcome very nice Hellcat Great job !!!!! How does it fly ? Thanks Doolittles
Great build nice work !!!! It to bad you have to add a political statement !!! This is our Hobby keep the political CRAP out Thanks
He is right hellcats did not have tigers face ! They had sharks mouth;).
Hi fellow Hellcat lover's i would like to join your Brotherhood !!! My first hellcat was in 1970 had another in in 2000 sold that one. Have one building right now with a moki in it . Yes so please...
Hi Jeff
Awesome Cat!!! I hope you know who i am Chaz i had to buy a new computer . I had seen your video great !!!! When do you think you going to have it on the market ? I STILL would like one of...
I Also have been doing this for 50 years ! So you can have them . Thanks
I am done with TOP FLITE MODELS at one time i have all of them . i started to buy the giant scales you get ( NO ) support from top flite they said to go to another for help and supplies to finish...
Hi isn't the battery box tied in to the nose wheel mount ! At least mine is.
I have enlarge my B25 it has two D/A 50 on it Great Flyer !
Your doing a great job , nice work i wish you built...
you need repo man !!
Hi All
Has any one have a build on this plane ? The engines setups of the flying surfaces?
I thanking of a p-160/p180 for this plane and JR 8711 for the aile .
Thanks Chaz
Thanks for the pictures of the rudder, elevators, and ailerons. Are you concerned that there are two Roberts large hinges that hold the ailerons on? Are you concerned with flutter? What size servo...
Great thanks Chaz


text:
Where a Superior Court judge ruled that a 1986 trust was a "sham" from its inception because the decedent never intended to relinquish his dominion over the properties placed in the trust, the judgment must be affirmed because the defendant grandchildren have not demonstrated that any of the judge's findings are clearly erroneous, nor have they demonstrated any error of law.Read More »
Judgments affirmed
The Appeals Court has affirmed, pursuant to Rule 1:28, judgments in the following cases. Although the decisions do not appear to address any substantive issues of law, the full text of each decision may be ordered using the appropriate "Lawyers ...Read More »
Jury and jurors – Dismissal – Impasse
Where a defendant has been convicted of assault by means of a dangerous weapon, the verdict must be set aside because the trial judge lacked good cause for acceding to the jury foreperson's request during deliberations that he be excused after the jury had at least temporarily reached an impasse, with the foreperson the sole "hold out" for acquittal.
Tagged with: ImpasseRead More »
Motor vehicles – Use without authority – Rental
Where the defendant drove a rental car and admittedly was not on the rental agreement, the criminal complaint charging use of a motor vehicle without authority was supported by probable cause and should not have been dismissed.Read More »
Criminal – Age – Assault and battery
Where a defendant was convicted of assault and battery upon a person age sixty years or older by means of a dangerous weapon in violation of G.L.c. 265, §15A(a), the conviction must be vacated because the commonwealth failed to prove the age of the complaining witness.Read More »
Mortgages – Equity – Forgery
Where a third party wrongfully forged a conveyance of a condominium by mortgage deed to the defendant bank in exchange for a loan, the trial judge was correct in concluding that a final equitable solution permits the consequence of his deception to rest with the forger's father (the plaintiff) and not with the defendant.
Tagged with: ForgeryRead More »
Criminal – Invocation of right to counsel
Where the defendant asked if he could call an attorney, but was unable to reach one by phone, he clearly and unequivocally invoked his right to counsel prior to questioning, and therefore his motion to suppress his videotaped interview should have been allowed.
Tagged with: right to counselRead More »
Criminal – Duplicative convictions – Ammunition
Where a defendant was convicted on four of the five counts against him, the conviction on count 3 must be vacated as duplicative.
Tagged with: Duplicative convictionsRead More »
Evidence – Ballistics – 911 call
Where a defendant has appealed from his firearms convictions and the denial of his motion for a new trial, no reversible error occurred when the trial judge decided to admit into evidence a ballistician's certificate or a 911 phone call.
Tagged with: 911 call BallisticsRead More »
Retirement – Accidental disability
Where an administrative magistrate found that an applicant had not met his burden of establishing that his disability was caused by one or more specific incidents at work, there was no substantial evidence in the record to support this conclusion.Read More »


text:
Henri Bentegeat, a four-star general and former Chief of Defence Staff at the Elysee Palace, admitted to MEPs that the two defence arms - largely comprised of the same member states - sometimes overlapped their efforts to the detriment of both.
General Bentegeat was responding to questions at a meeting of the European Parliament's Defence Committee.
The Military Committee he chairs is the highest military body set up within the EU as part of the European Security and Defence Policy (ESDP) developed over the last dozen years.
Its supporters insist this youthful defence cooperation under the EU umbrella does not undermine the role of Nato, set up in 1949 between European nations and America and Canada to "consult together on security issues of common concern and take joint action in addressing them".
Nato has 28 member states, including 21 of the 27 EU countries. But the fact that so many governments belong to both organisations has not prevented confusion over respective roles and difficulties of sharing planning capabilities and military equipment.
Gen Bentegeat told MEPs: "Sometimes the EU and Nato are competing and harming." He cited the example of the fight against piracy off the coast of Somalia as a regrettable case of multiple military operations, and insisted that "US involvement was essential for any major military operation".
The general rejected the idea of setting up a permanent EU military headquarters, but he insisted that the EU did have a "distinctive" military contribution to make because it could offer an "integrated approach" to crisis management. The EU was often the only international player parties to a conflict would accept, he pointed out.
British Conservative defence spokesman in the European Parliament, Geoffrey Van Orden, said afterwards: "The chairman of the EU's own Military Committee has confirmed our view that ESDP is essentially a political project and brings no military added value.
"There should be a clear division of labour between Nato and the EU with the latter focusing on civil tasks. Currently, scarce resources are being wasted in the EU's efforts to duplicate Nato capabilities."
The East of England MEP is a staunch opponent of an EU defence role and has often challenged the UK Government to restate its "unambiguous" support for the Nato alliance as Europe's defence arm.
He went on: "It is ridiculous that both Nato and the EU have fleets patrolling the seas off Somalia, drawing on the same diminishing naval forces. And if many European countries were not distracted by the EU's own ambitions they might be prepared to contribute more combat troops in Afghanistan. The EU itself should enhance its civil assistance and police training missions in closer cooperation with Nato."


text:
|Message view
|« Date » · « Thread »
|« Date » · « Thread »
|Rick Curtis <curti...@gmail.com>
|Re: OpenJPA plugin for Eclipse?
|Tue, 07 Apr 2009 14:12:45 GMT
Arjun- That is correct that the Dali plugin doesn't mention anything about OpenJPA. The Dali plugin is a generic JPA plugin that will work for any JPA implementation. See section 1.1 of the user guide [1.] where mentions installing a JPA implementation of your choosing. This is the part where you need to download the OpenJPA binaries and hook them into the Dali plugin. Hopefully this clears up any confusion. -Rick [1.] http://www.eclipse.org/webtools/dali/docs/dali_user_guide.pdf -- View this message in context: http://n2.nabble.com/OpenJPA-plugin-for-Eclipse--tp2572643p2599165.html Sent from the OpenJPA Developers mailing list archive at Nabble.com.
|View raw message


text: Posts in this blog convey general knowledge of the workings of the California workers compensation law system from the perspective of a practicing California Injury Lawyer. Nothing should be taken as formal legal advice for a particular case because all cases are unique and require individual analysis. The general knowledge provided by this blog should be used only for gaining a broader understanding of how things work in general and should not be relied upon to make a decision about a particular case. If you are looking for help, you need to call a lawyer for it and not rely on what you read here to determine your course of action. calinjurylawyer.com


text:
Prices, specials, features and availability subject to change.
Contact for details
Our property is conveniently located near CTA, I-290 and hospitals. Property grounds feature gated and well lit parking lot and wheel chair ramps. Units include customizable floorplans and timber beams. This is a truly unique renting experience. We will build out walls at no cost to you where you want.
Lease Terms: 12 month leases. Call for deposit details.
Cats Allowed. Call for service animal policy.
58 units
Contact Propertyor call
Monday-Sunday: By Appointment
Creative Designs
Don't have a Rent.com account? Create one.
Creating an account allows you to acccess your saved and contacted properties on any device. Already have an account?
Log In
We are experiencing technical difficulties at the moment. Please try again later.


text:
Since 2013 there has been over 400% increase in attendance at the festivals and growth looks set to continue.
The Queer Screen – Mardi Gras Film Festival community of members, audiences and subscribers is composed of higher income, 25-55, highly educated LGBTIQ individuals who are brand loyal; perfect for advertisers wishing to reach out to the LGBTIQ audience.
Maximise your advertising dollars and exposure with opportunities across all platforms:
– Print program guides
– Cinema
– Digital
– Social / eNews
– On-site activations
Strengthen your company's reputation as a brand that supports the gay and lesbian community.
To learn more about advertising opportunities for your business, whether big or small, at one of the largest year-round LGBTIQ cultural organisations in Australia please contact Paul Kennedy at email@example.com or phone 0411 125 779.
<<download Queer Screen – Mardi Gras Film Festival Advertising prospectus here>>


text:
- Dementia Slideshow Pictures
- Take the ADHD Quiz
- Brain Foods Slideshow Pictures
- Patient Comments: Tourette Syndrome - Treatments
- What is Tourette syndrome?
- What are the symptoms of Tourette syndrome?
- What is the course of Tourette syndrome?
- Can people with Tourette syndrome control their tics?
- What causes Tourette syndrome?
- What disorders are associated with Tourette syndrome?
- How is Tourette syndrome diagnosed?
- How is Tourette syndrome treated?
- Is Tourette syndrome inherited?
- What is the prognosis for Tourette syndrome?
- What is the best educational setting for children with Tourette syndrome?
- What research is being done for Tourette syndrome?
- Where can I get more information about Tourette syndrome?
Quick GuideFrom Brain Freeze to Vertigo: Weird Body Quirks
What research is being done for Tourette syndrome?
Within the Federal government, the leading supporter of research on Tourette syndrome and other neurological disorders is the National Institute of Neurological Disorders and Stroke (NINDS). The NINDS, a part of the National Institutes of Health (NIH), is responsible for supporting and conducting research on the brain and central nervous system.
NINDS sponsors research on Tourette syndrome both in its laboratories at the NIH and through grants to major medical institutions across the country. The National Institute of Mental Health, the National Center for Research Resources, the National Institute of Child Health and Human Development, the National Institute on Drug Abuse, and the National Institute on Deafness and Other Communication Disorders also support research of relevance to Tourette syndrome. And another component of the Department of Health and Human Services, the Centers for Disease Control and Prevention, funds professional education programs as well as Tourette syndrome research.
Knowledge about Tourette syndrome comes from studies across a number of medical and scientific disciplines, including genetics, neuroimaging, neuropathology, clinical trials (medication and non-medication), epidemiology, neurophysiology, neuroimmunology, and descriptive/diagnostic clinical science.
Genetic studies. Currently, NIH-funded investigators are conducting a variety of large-scale genetic studies. Rapid advances in the technology of gene finding will allow for genome-wide screening approaches in Tourette syndrome, and finding a gene or genes for Tourette syndrome would be a major step toward understanding genetic risk factors. In addition, understanding the genetics of Tourette syndrome genes will strengthen clinical diagnosis, improve genetic counseling, lead to the clarification of pathophysiology, and provide clues for more effective therapies.
Neuroimaging studies. Within the past 5 years, advances in imaging technology and an increase in trained investigators have led to an increasing use of novel and powerful techniques to identify brain regions, circuitry, and neurochemical factors important in Tourette syndrome and related conditions.
Neuropathology: Within the past 5 years, there has been an increase in the number and quality of donated postmortem brains from Tourette syndrome patients available for research purposes. This increase, coupled with advances in neuropathological techniques, has led to initial findings with implications for neuroimaging studies and animal models of Tourette syndrome.
Clinical trials: A number of clinical trials in Tourette syndrome have recently been completed or are currently underway. These include studies of stimulant treatment of ADHD in Tourette syndrome and behavioral treatments for reducing tic severity in children and adults. Smaller trials of novel approaches to treatment such as dopamine agonist and GABAergic medications also show promise.
Epidemiology and clinical science. Careful epidemiological studies now estimate the prevalence of Tourette syndrome to be substantially higher than previously thought with a wider range of clinical severity. Furthermore, clinical studies are providing new findings regarding Tourette syndrome and co-existing conditions. These include subtyping studies of Tourette syndrome and OCD, an examination of the link between ADHD and learning problems in children with Tourette syndrome, a new appreciation of sensory tics, and the role of co-existing disorders in rage attacks. One of the most important and controversial areas of Tourette syndrome science involves the relationship between Tourette syndrome and autoimmune brain injury associated with group A beta-hemolytic streptococcal infections or other infectious processes. There are a number of epidemiological and clinical investigations currently underway in this intriguing area.


text:
This question is somewhat related to a previous question of mine, but appeared in a different context.
Suppose given two morphisms of $S$-schemes $f,g:X \to Y$. Intuitively, I am interested on the locus of points of $X$ in which these two morphisms coincide. A schematic approach to that, would be to consider $Z$ as the pullback of the diagonal $\Delta: Y \to Y\times_S Y$ by the morphism $(f,g): X \to Y\times_S Y$.
Then, for example, if $Y\to S$ is separated ("Hausdorff"), then $Z \to X$ is a closed immersion, which makes sense.
Also, the composition of $Z \to X$ with $f$ and $g$ are the same (by the commutativity of the cartesian diagram defining $Z$). Hence, I would expect that the scheme $Z$ is what I'm searching.
But one could also take a naive, set-theoretic, approach (which we know is usually inappropriate when dealing with schemes) and define the set $A=\{x\in X \mid f(x)=g(x)\}$.
My question is: what is the relation between $Z$ and $A$?
The most strange thing is that $A$ can be empty, but $Z$ seems to be always well defined. In this case (when $A$ is empty), how this information is "captured" in the scheme $Z$?


text:
This #kefircreations shop has been compensated by Collective Bias, Inc. and its advertiser. All opinions are mine alone. #collectivebias
This summer, thanks to the patio redo we are working on, I've been focused on entertaining. I can invite people over in the evenings and we can sit outside in the shade! That's a huge deal when it is 100 degrees outside and the humidity only seems to be rising. Reminiscing about the lazy summer days spent on my Grandmother's farm with my huge extended family, I remembered my absolute favorite treat—homemade ice cream. We would gather on the front porch and takes turns cranking the handle, mouths watering, for a taste of cold creamy goodness. When we invited friends over for a cookout, I decided, "We need homemade ice cream!" I had been shopping at Winn Dixie, thinking of which flavor of ice cream I wanted when I spotted Lifeway Kefir in the dairy section. Seeing it contained 12 live and active Probiotics cultures, was high in calcium, gluten free, 99% lactose free and had no preservatives cinched the deal. It was perfect for an allergy friendly ice cream!
I wasn't sure which variety of Kefir I wanted, raspberry, blueberry or plain, when my daughter told me, "Mom, I want to try Blueberry Lemon ice cream. I've heard it's delicious." I was skeptical, but I picked up a bottle of Lifeway Foods Blueberry Kefir and brought it home. I served it to our guests, with strict instructions to tell me if they did not like it, and it turned out to be a hit! Our next door neighbor liked it so much he brought me a batch of freshly picked blueberries to add to the ice cream the next time I wanted to make the recipe.
Here's what you need to make it:
1 bottle (32 ounces) Lifeway Blueberry Kefir
1 container ( ounces) frozen lemonade concentrate
1 tablespoon grated lemon peel
2 cups (16 ounces) sugar
Pour the sugar, blueberry Kefir and lemonade concentrate into a bowl. Mix until well blended. Add lemon peel and stir. Pour into an ice cream freezer and freeze according to the manufacturer's directions.
We had a great time making our ice cream, especially since our friend volunteered to do all the churning. I can't wait to make another batch. This time I'm thinking raspberry cheesecake!
Do you make homemade ice cream? What is your favorite flavor? If you would like to try our Blueberry Lemon Ice Cream, here is a coupon to help you save.


text:
Emanuela Hutter - Biography
Look up her profile on www.hillbillymoon.com and here's what you get:
Emanuela Hutter: lead singer, rhythm guitarist, singer, driver (sometimes)
Instrument currently used: Fender Jag-Stang (modified)
Drinks: Whiskey sour, Prosecco
Singers: Patsy Cline, Irma Thomas, Billie Holiday, Alex Harvey, Dinah Washington, Julie London
Favourite Bands: Motörhead, AC/DC (only with Bon Scott, mind you), The Pretenders
Source of infinite annoyance: Oliver's driving
Favourite tv show: Absolutely Fabulous, French and Saunders
First instrument: The jukebox in my parents' restaurant
First musical influence: The Ronettes
Bands I have played in: The Buechsenbeers, MD Moon
If I was not a musician I would like to be a: Very rich man's widow
Favourite movie: Once Upon a Time In the West
Favourite fantasy: No, she's not telling anymore.
Favourite car: Jaguar E-Type Series I 4.2l in pale yellow with whitewall tyres. Read more on Last.fm. User-contributed text is available under the Creative Commons By-SA License; additional terms may apply.


text:
Donations come in many forms.
Time, Money,Tools, Food, Materials, Etc.
As a 501(c)(3) organization, we are dedicated to the rescue, rehabilitation and rehoming of abused and neglected farm animals. We work to educate the community about farm animal welfare and advocate for public policy change. The Sanctuary is home to many types of farm animals including horses, llamas, donkeys, cows goats, sheep, ducks, chickens and even doves, to name a few.
Volunteers are the cornerstone of Lighthouse Farm Sanctuary, Without your tireless dedication we could not continue the meaningful work of our mission.
And what better way to spend a few hours once or twice a week than hanging out with very appreciative two and four legged friends?


text:
The Matthew Effect for Cohorts of Economists
This paper applies the Ijiri-Simon test for systematic deviations from Gibrat's Law to citation numbers of economists. It is found that often-cited researchers attract a new citation numbers that are disproportionate to the quality of their work. It is also found that this Matthew Effect is stronger for economists who started their academic career earlier.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
|Date of creation:
|Jan 2013
|Date of revision:
|Contact details of provider:
| Postal: Jubilee Building G08, Falmer, Brighton, BN1 9SL
Phone: +44 (0) 1273 678889
Fax: +44 (0)1273 873715
Web page: http://www.sussex.ac.uk/economics
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gonzalez-Brambila, Claudia & Veloso, Francisco M., 2007. "The determinants of research output and impact: A study of Mexican researchers," Research Policy, Elsevier, vol. 36(7), pages 1035-1051, September.
- De Vany, Arthur S & Walls, W David, 1997. "The Market for Motion Pictures: Rank, Revenue, and Survival," Economic Inquiry, Western Economic Association International, vol. 35(4), pages 783-97, October.
- Christian Seiler & Klaus Wohlrabe, 2011.
"Ranking Economists on the Basis of Many Indicators: An Alternative Approach Using RePEc Data,"
CESifo Working Paper Series
3691, CESifo Group Munich.
- Seiler, Christian & Wohlrabe, Klaus, 2012. "Ranking economists on the basis of many indicators: An alternative approach using RePEc data," Journal of Informetrics, Elsevier, vol. 6(3), pages 389-402.
- Hendrik P. van Dalen & Kene Henkens, 2000. "What makes a Scientific Article influential?," Tinbergen Institute Discussion Papers 00-032/1, Tinbergen Institute.
- Christian Zimmermann, 2013.
"Academic Rankings with RePEc,"
MDPI, Open Access Journal, vol. 1(3), pages 249, December.
- Christian Zimmermann, 2007. "Academic Rankings with RePEc," Working papers 2007-36, University of Connecticut, Department of Economics, revised Mar 2009.
- Christian Zimmermann, 2012. "Academic rankings with RePEc," Working Papers 2012-023, Federal Reserve Bank of St. Louis.
- Ralph Kenna & Bertrand Berche, 2011. "Normalization of peer-evaluation measures of group research quality across academic disciplines," Research Evaluation, Oxford University Press, vol. 20(2), pages 107-116, June.
- Jean-Yves Lesueur, 2012. "La production scientifique des enseignants-chercheurs en économie. Quelques résultats économétriques issus du dispositif PES," Revue économique, Presses de Sciences-Po, vol. 63(4), pages 743-778.
- David Maddison, 2004. "Increasing returns to information and the survival of broadway theatre productions," Applied Economics Letters, Taylor & Francis Journals, vol. 11(10), pages 639-643.
- De Vany, Arthur S. & Walls, W. David, 2004. "Motion picture profit, the stable Paretian hypothesis, and the curse of the superstar," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1035-1057, March.
- Katz, J. Sylvan, 1999. "The self-similar science system1," Research Policy, Elsevier, vol. 28(5), pages 501-517, June.
- Marshall Medoff, 2006. "Evidence of a Harvard and Chicago Matthew Effect," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(4), pages 485-506.
- Jeong-Yoo Kim & Insik Min & Christian Zimmermann, 2007.
"The Economics of Citation,"
Working papers
2007-31, University of Connecticut, Department of Economics.
- Jeong-Yoo Kim & Insik Min & Christian Zimmermann, 2011. "The Economics of Citation," Korean Economic Review, Korean Economic Association, vol. 27, pages 93-114.
- Thomas Krichel & Christian Zimmermann, 2005. "The Economics of Open Bibliographic Data Provision," Working papers 2005-01, University of Connecticut, Department of Economics.
- Ijiri, Yuji & Simon, Herbert A, 1974. "Interpretations of Departures from the Pareto Curve Firm-Size Distributions," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 315-31, Part I, M.
This item is featured on the following reading lists or Wikipedia pages:
When requesting a correction, please mention this item's handle: RePEc:sus:susewp:5513. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Russell Eke)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.