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text:
Browsing by Author "Busching, Ingo"
Now showing items 1-3 of 3
The H-test probability distribution revisited: Improved sensitivity Busching, Ingo; De Jager, Ocker Cornelis (EDP Sciences, 2010)
Modelling the stellar soft-photon energy density of globular clusters Prinsloo, Phillip L.; Venter, Christo; Busching, Ingo; Kopp, Andreas (South African Institute of Physics, 2014)Recent observations by e.g. Fermi LAT and H.E.S.S. have revealed globular clusters to be sources of high-energy and very-high-energy gamma rays. It has been suggested that the presence of large numbers of millisecond pulsars ...
Spatially resolved XMM-Newton analysis and a model of the nonthermal emission of MSH 15-52 Busching, Ingo; De Jager, Ocker Cornelis; Eger, P; Schöck, F M; Vorster, Michael Johannes (EDP Sciences, 2010)

subset: commoncrawl


text:
Newcastle Investment Corp. (NCT) Q1 2008 Earnings Call May 12, 2008 1:00 PM ET
Lily Donohue - Director of Investor Relation
Wesley Edens - Chairman
Ken Riis - Chief Executive Officer and President
Debra Hess - Chief Financial Officer
Bose George - KBW
Edmond Safra - M. Safra & Co.
David Fick - Stifel Nicolaus
Matthew Howlett - Fox Pitt Kelton
Jeremy Banker - Citi
Good afternoon. My name is Dennis and I will be your conference operator today. At this time, I would like to welcome everyone to the Newcastle First Quarter 2008 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. (Operator Instructions).
I will now turn the call over to Ms. Lilly Donohue, please go ahead ma'am.
Lily Donohue – Director of Investor Relation
Thanks, Dennis. Good afternoon, everyone. I'd like to welcome you all to Newcastle's First Quarter 2008 Earnings Conference Call. Joining us today is Wes Edens, our Chairman; Ken Riis, our CEO and President and Debra Hess, our Chief Financial Officer.
Before I turn the call over to Wes, as the operator mentioned, this call is being recorded and the replay number is 800-642-1687 from within the United States, outside of the United States, is 706-645-9291, access code is 447298044. The call is also be available on our website newcastleinv.com.
I'd also like to point out that statements today which are not historical facts may be forward-looking statements. Our actual results may differ materially the estimates or expectations and any forward-looking statements. These statements represent the company's beliefs regarding events that by their nature are uncertain and outside of the company's control. So you should not place undue reliance on any of these statements.
I would also encourage you to review the forward-looking statement disclaimer in our press release and also reviewing the risk factors contained in our annual and quarterly reports that are filed with the SEC also available on our website. And with that I would like to turn the call Wes Edens. Wes?
Wesley R. Edens – Chairman
Great, thanks Lilly and welcome everyone, and welcome to our 2008 first quarter earnings calls. The first few months of the year have continued to be very volatile, obviously. Now, since the Feds action to mid March the market has stabilized its significant extent, and our primary focus at New Castle during these truculent times has been to rebalance the portfolio, increase as much liquidity as possible. I am happy to report that thus far we've accomplished a great deal this year, we still have work to do, but we've made great progress.
In the long term, our objective in New Castle is the weakest stewards for our shareholders capital. We've been focused mainly on from liquidity and financing and we expect to complete the bulk of what we've focused in this regard in the first half of the year. Now our focus can shift. So looking to aggressively seek to investment liquidity we've generated in the best risk adjusted investments available. This is something we have already started to focus on and they should only accelerate in the second half of this year.
In total since the beginning of the year, we've reduced our recourse borrowings by just over a billion dollars from approximately 1.8 billion at year-end, down to about $765 million currently. We've reduced the CDO financings by $348 million, increased cash on hand from 29 million and cash at year end to nearly a $125 million today, and now have a much more liquid balance with substantial amount of cash, greatly reduce to recourse, non-recourse borrowings and a couple of hundred million dollars on assets that are on leverage, so far, so good.
We still have a number of initiatives that we believe we will continue to add to our liquidity, as long as we're successful on executing it on them, but just recently we turned our attention to looking at a variety of investment alternatives that are in front of us.
There are basically two types of investment alternatives that we focused on, the first it simply to look for investment opportunity that exist in the market for various types of debt. If the target reach environment for debt these days, there should be good news in this front in coming.
Second of all, we continue to look to acquire elements of our outstanding capital structure at attractive prices. We've made some modest investments this quarter that Kenny in just a sec and the debt is issued by some of our CDOs. In addition, we are looking closely at the company's equity securities. We have not purchased any thus far, how we have authorization to do itself from the board and this something which we are continuing to evaluate and monitor closely.
All in all this is good first quarter for the company and we continue to have good success thus far in the second quarter and achieving the objective that we created first in the year. Our hope is that continue good of execution as well to maximize the shareholder equity and delivering the opportunities that exists in this market.
Now to talk specifically about our activities, I would like to turn the call over to Ken. Ken?
Ken Riis – Chief Executive Officer and President
Thanks Wes. As we mentioned we have had a very active first quarter. With the focus on raising cash and reducing recourse debt we sold $1.3 billion of assets, reduced total debt by $1.4 billion, and more importantly reduced recourse debt by about a billion dollars in the quarter. Today we have a $123 million of unrestricted cash on our balance sheet and $62 million of restricted cash in our CDOs.
The $1.3 billion of assets sold in the first quarter, $760 million Fannie Mae and Freddie Mac securities, $300 million were commercial real estate securities and loans, and $273 million was mostly a weak debt. If we focused on the liability side of our balance sheet which is where we've been focused in the last four month, at quarter end, we had $5.7 billion of total debt, $4.9 billion of non-recourse and about $787 million of recourse debt.
Our main focus has been to reduce our recourse debt exposure, so let's focus on that first. Currently when I look at it and we have two forms of debt, we have financing to reduce this debt by $250 million over the last four month. We will continue to focus on this part of our balance sheet, but I feel very good about where we are today.
Next I want to talk about the larger part of our liability side of our balance sheet which is our non-recourse borrowings. It totals $4.9 billion and $4.5 billion as recourse is non-recourse CDO debt. Our CDO liabilities are non-recourse. This means that our capital at risk is limited to our investments and the assets net of debt that has already been issued against those assets. We currently have $4.9 billion of assets financed with $4.5 billion of debt in our CDOs. The average funding spread on these liabilities is very attractive, currently about LIBOR plus 40 basis points, and the average LIFO liabilities at six years.
Today the CDO's offer great value to the company, we can only do two things, we can continue to use these financings to fund our portfolio and generate a good positive spread. OA end also buy new assets at high yields as asset prepay in the CDOs and generate higher returns on equity. And also, given the current marketplace we are able to theistically repurchase CDO liability that distress prices and generate gains for the company.
In the quarter we bought that $19 million as CDO liabilities at an average price of $0.39 on the dollar generating a $11.5 million gain.
In summary our balance sheet is in good shape and we will remain focused on utilizing our liquidity to take advantage of our current market opportunity. The buying back of some of our debt in the quarter is just the beginning for us and there are lots of opportunities like these in the marketplace today.
Our short term focus is position the company to take greater advantage of all these market opportunities. Now, I will turn it over to Debra Hess, our CFO to review our first quarter financial results. Debra?
Debra Hess - Chief Financial Officer
Thank you Ken and good afternoon. I wanted to highlight our results and focus on two key financial metrics, recurring income and book value. Recurring income or FFO scoring net charges was $0.56 per diluted share for the first quarter.
We talk about recurring income every quarter. So to make it easier to calculate we reformatted our income statement, we added a new caption called non-recurring income and expense that now summarize all of those net charges from the past. We also added a line item called operating income which if you net off the preferred dividend is the equivalent of recurring income before these other item.
Net charges for the quarter were roughly $74 million or a $1.40 per share and is principally comprise of impairment of $70 million. Impairment included 46 million related to AVS securities, 19 million related to loan, and 3.5 million related to the future sell of our real estate. Other income and expense item for the quarter related to sales, the repurchase of CDO debt and unrealized losses and total returns loss.
Next is our book value. Our GAAP book value only reflects market value changes for securities and derivatives and does not mark our loan investments or debt. Given the dramatic spread widening in the quarter for instance, BBB CMBS widened approximately 900 basis points. Our GAAP book value was a negative $4.12 per share.
The two largest contributed to the unrealized loss for CMBS of 302 million or $5.73 per share and interest rate swap used as hedges of 160 million or $2.19 per share.
However, this number in no way represents our two economic book values. We believe a better metric is adjusted book value which marks all of our financial assets and liabilities to fair value. Our adjusted book value equals $16.28 per share at March 31st. This measure may be easier to understand as it is an equivalent to FAS 159. However, by presenting the adjusted book value we avoid all of the accounting noise in the income statement from electing fair value under FAS 159.
Another way to think about GAAP book value and why it's a not useful measure is because of how we finance ourselves. Our securities portfolio is predominantly financed with CBOs that are not affected by unrealized changes in value.
Hardly under US GAAP we have negative equity in all but one of our CBOs. However, given that they are non-recourse financings we could never loose more than our equity interest. Just adding back the negative GAAP CBO equity would increase our GAAP book value by 650 million and bring it to $8.20 a share.
However, this analysis does not take into consideration all of the expected future cash flows which in the first quarter we generated 22 million of income cash flows on our CDOs as well.
Next I will turn it over to the operator for questions.
Question-and-Answer Session
(Operator Instructions). Your first question is from the line of Bose George with KBW.
Bose George
Hey good afternoon. Had a couple of questions. One, your quarter-end spread was up by 33 basis points over Q4 and does that primarily reflect the fact that assets are marked down further?
Debra Hess
It's actually two pieces. We actually sold 1.3 billion of assets in the first quarter over 700 of which were agency RMBS, which just happens to have a lower net spread to it, that's the largest contributor.
Bose George
Okay. And second just switching to the – I just wanted to try and figure out the capital that you had invested in your sub prime securities and just in terms of the total exposure that you guys have?
Debra Hess
Well the assets that most of assets – most of the assets-backeds aren't sitting in our CBO's. We have them marked on the basis of say the overall '06 of vintage for instance with that $0.14 at the end of year and currently it is at $0.06.
Bose George
So when in term - when I think of our total exposure its really its what that is marked on to plus - is the calculation of your exposure in your residuals separate?
Debra Hess
It is. When you go to the table in the press release we actually break out the third party sub prime securities separately from the sub prime retained interest and the retained bonds. And you…
Bose George
Yes so it's the – and then I just take the $0.06 of this and then add there on the residuals as well.
Debra Hess
You can add it all up.
Okay great thanks.
(Operator Instructions). The next question comes from the line of Edmond Safra with M. Safra & Co.
Edmond Safra
Hi. Can you just give us a little bit of an idea of how the B notes portfolio is doing and are there non-marked-to-market assets. So you had a couple charges related to that you know, the bulk of our portfolio is performing very well, we have very low leverage on our mezzanine loans and B notes, and the underlying assets are performing inline with expectations. So, no real issues there. The charges we took were on a bank loan that we had and also a residential loan which was a loan lands in Arizona. So those are the two charges we took in the quarter. So it was isolated the bulk of portfolio is performing very well or better than expected.
Edmond Safra
Thank you.
Your next question comes from the line of David Fick with Stifel Nicolaus.
David Fick
Good morning. I just want to be clear you recently announced like 159 equivalent income statement and then over your adjustment through scholarship?
Debra Hess
That is correct.
David Fick
Okay. Can you walk us through your loss covered by asset type and as reserve you have now on your commercial loan, your residential loans and your bank loans?
Debra Hess
Well, we don't really have reserves on our securities, right, what we do there where we taken an impairment we've just reduced our basis down. Aside from that, we don't have any reserve. The number that are actually different on the adult side, the loans that we have, in our 10-Q we actually disclosed what our loan loss coverage is that for instance, on our commercial real estate related loans again, we have some results that came through the form of the impairment that we took in the first quarter. And then on the residential loans, prime loans and MH loans, of the total portfolio of 621 million, we have 11.5 million of delinquent loan, and on that we have 8.6 million of reserves against that.
David Fick
Okay, that's clear thanks. What are your thoughts on the order $787 million of recourse debt especially the Fannie's and Freddie's, what's your problem on that?
Ken Riis
Well we are on those for compliance purposes and if that decides where we need to be. So, our plan here is to continue to own those in finance and it will be actually expanded financing counterparties in the quarter with investments banks that will finance those assets for us. So, from my point of view it's really not an issue that where it's liquid and easy to finance, but we do need to own the current size or compliance, re-compliance purposes.
David Fick
We all like your repurchase of the CDO debt from you or how does it offer to you? And at what level you bought it? And how much more you think the liabilities is?
Ken Riis
We bought at $19.39 million on the dollar. So the way it was offered to us came on a bid list that we bought in competition and another one, the buyer came back to us directly to purchase at renegotiated price. You know, there is more opportunity out there to do these types of acquisition but you know we are going to look out on a case by case basis.
David Fick
What level of cost did you get and what level would you interested in?
Ken Riis
I am sorry, what is the question?
David Fick
At what level you would have buy them in terms of the credit level?
Ken Riis
Oh, I am sorry, it was singly rated.
David Fick
And how down would you go?
Ken Riis
We would go depending on price, we would go down, its all of function of price.
David Fick
Got it. Okay thank you.
Ken Riis
Our next question comes from the line of Matthew Howlett with Fox Pitt Kelton.
Matthew Howlett
Thanks for taking my question. If you could just give us an update on what the CDO triggers are, specifically the par value test. Would it a table a Q like you had in the K in terms its par value test is you know, you had little bit mega ratings migrating on the corporate I know there was some operating migration on the CMBS side. But first, what is – where do they stand today and sort of what's the outlook if things continue to get downgraded the second half of the year?
Debra Hess
Actually we will have the same table on our Q which will filed this afternoon and we are passing all triggers. Ken to you?
Ken Riis
Yeah, the outlook is we actually feel very good about our triggers there because the ratings on your portfolios are investment grade in general. Really what you have issues for OC triggers is if you get downgraded below triple-C. So we don't anticipate any of those securities being downgraded below triple-C, so we don't anticipate any OC issues
Matthew Howlett
When you say any of those securities, you mean CMBS? Because some of the subprime is below triple-C?
Ken Riis
No, I know, but any other securities.
Matthew Howlett
Okay. Great, thanks. And then Wes, maybe you can answer this one for me. With the securitization markets shut down this year, your CDO market looks like it's not going to come back this year and expectations are for the subprime markets, securitization markets to be on hold. Does Newcastle need to reinvent itself going forward? I mean, this is going to be a different business model down the road? Or is there going to be sort of -- is it going to start transforming to this distressed CMBS buyer of assets funded a different way?
Wesley Edens
Well, I think certainly the capital structure is going to be different for the foreseeable future. I don't think the securitization markets are dead by any means for a whole array of different asset classes; but neither do I think they are in any danger of reopening for financings of the type and the levels we have been able to get them done in the past. So, really the financings are not what really drives the bus, though. Really what we're focused on are the types of investments we can make. As I said, this is a target-rich environment. There is a lot of things that are out there. Risk-adjusted spreads in our view on debt assets, broadly speaking, are about as attractive today as they have ever been. You know, I would say the gap between the perception in the market of the risks of many instruments and actual risks are kind of the exact opposite of where they were at this time last year. So we think there is going to be lots of interesting things to do. The first thing we had to do is make sure that the Company's finances and liquidity were in good shape and it's been a lot of hard work to get us to where we are, but we feel great about that. The alternative -- to not be in great shape -- we know lots of those stories from the first quarter, so we don't need to repeat that, and we were never really in danger of being that impaired. But in these kinds of turbulent markets, you want to be in a good position to be offensive, and we are in a good place to do so.
Matthew Howlett
Would you be willing -- so are you looking to buy things sort of unlevered now? I know returns are great in the subordinate market. Or is there some way you could create some type of term financing outside the CDO market to lever some of this stuff up?
Wesley Edens
Yes, I think it is probably a combination of those two. As you know, exactly as you said, when the financing markets dry up the yield -- the difference between unleveraged returns and leveraged returns tends to converge and that might not be great for asset prices, but it's good for buying opportunities, and that is exactly what has been happening. Also, you might find situations that sellers are willing to provide term financing. It is just that the key is really to not put yourself in a place where you have a bunch of assets that you are long and a bunch of financing that is short term that is callable in nature. That is obviously what we are very, very focused on. We didn't have a lot of that proportionally when we started this whole credit retrenchment. We have an awful lot less of it now, so we are in a good place.
Matthew Howlett
Great, thanks a lot.
Your next question comes from the line of Jeremy Banker with Citi.
Jeremy Banker
Hi, how are you doing? I was wondering if you could give your general overall outlook on the residential market. Do you think that we might be nearing a bottom here?
Wesley Edens
You know, I think this is something we spent a lot of time with at Fortress and in many different parts of the firm. We have a lot of exposure to the residential markets, and I do think it is an extremely attractive part of the debt markets. You know, for what is a fairly simple asset, just a residential mortgage; the market has created very complex capital structures to stuff them into. So it takes a lot of work to sort through and figure out which ones you like more and which ones you really like less. But I think that there is a lot of value in that market. You know, we do have a service that we own in one of the private equity funds – or two of the private equity funds, actually. It certainly seems to us that the pace of delinquencies, the pace of some of the market downturns has abated in recent months, and I think it is still way too early to call the bottom of a market. But it seems like it may be more getting more regionalized, which I think is a -- would be a healthy step if in fact that is what is happening. So I think that the credit problems are going to take some time to work out; but as Kenny said, it is really about the prices that you can acquire these assets at, and what the risk-adjusted returns are as a result. And the bottom we do feel like its attractive.
Jeremy Banker
Great Thanks.
Ladies and gentlemen we have reached the end of the allotted time for questions and answers. Are they any additional remarks?
Debra Hess
Well thank everyone for joining us and we will talk to you next quarter. Thanks everyone.
Ladies and gentlemen this does conclude the Newcastle's first quarter 2008 earnings call. You may now disconnect.
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Javascript: Pre-version of Mozilla Firefox holds up against Google Chrome
As Javascript expert John Resig of the Mozilla Corporation informs us in his blog, Mozilla developers can currently benefit from its new homegrown script engine. Known by its codename TraceMonkey, it supposedly leaves the previous SpiderMonkey engine in the dust through its Just In Time (JIT) compiling to native code in terms of processing JavaScript code.
The result: Both JavaScript engines ran in a virtual tie, with the Google product slightly ahead, perhaps faster by 15 percent, not a substantial Chrome lead, considering the margin of error inherent in the SunSpider test. Significant differences emerged, however, in performing certain tasks: Chrome did better with 3D and crypto tasks; Firefox with strings, regex, and math. The German sister publication Linux Magazin Online provides the test results as a download.
Anyway, it is good news that Firefox will have parity in Javascript engine speed.
Good stuffGoogle go home!
Issue 201/2017
Buy this issue as a PDF
GitHub Announces Open Source Friday Program
They encourage people to take time out and work on open source projects on Friday.
System76 Announces Their Own Distro, Pop!_OS
Pop!_OS is based on Ubuntu and uses the Gnome stack.
Linus Torvalds Talks About His Motivation
He never tires of working on the Linux kernel.
Debian 9 Stretches Its Wings
The new release of Debian has a very strong focus on security.
Trojan Turns Raspberry Pi into a Cryptocurrency Mining Device
Two trojans in the wild are targeting Linux machines.
Fedora 26 Beta Comes with New Features
The workstation comes with the latest Gnome desktop environment and support for many application build systems.
Raspberry Pi Foundation Merges with CoderDojo Foundation
The two foundations join forces to expand their efforts to reach young people.
Samba Security Hole Patched but Risk is Bigger
Millions of devices that use Samba Server are vulnerable to attacks.
Red Hat Announces OpenShift.io
Red Hat takes its IDE online.
Microsoft Bakes Linux into Windows Server
Microsoft is slowly becoming a Linux vendor.


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ARLINGTON, Texas — Corin Voinché went 2-for-4 with two runs scored and two RBIs, and Christina Hamilton threw six shutout innings, as the University of Louisiana at Lafayette defeated UT-Arlington 8-0 to clinch its 11th Sun Belt Conference regular season championship on Sunday at Allan Saxe Field.
The Cajuns improved to 38-7-1 overall and 16-1 in Sun Belt play and have clinched the top seed for the conference tournament. The Cajuns have a bye into the third round of play on Thursday, May 8.
"With this group, every year we talk about playing every game, and we have three more games to play," UL-Lafayette coach Michael Lotief said. "After that is when you look up at the standings. This team is deserving of a conference championship, they have worked hard, played hard, and overcome adversity. They fight for each other and they deserve this, but we have to finish."
Lexie Elkins got the game started early, hitting her 16th home run of the season and third this week, driving in Haley Hayden to make it 2-0 in the top of the first inning.
That gave Christina Hamilton a big enough lead to win her 21st game of the season, holding the Mavericks to three hits over six innings with no walks, while striking out four. Victoria Brown tossed the final inning, walking a batter but getting a double play to finish the game and preserve the shutout.
The Cajuns went scoreless in the second inning before Shellie Landry's solo home run in the third to extend the Cajuns' lead to 3-0 after three innings. It was Landry's third home run of the season and gave her 30 RBIs on the season — the fourth Cajun this season with 30 or more RBIs.
In the fourth, Gabby Felps had a leadoff triple,. Two batters later, Voinché made it 4-0 with an RBI double to deep center field, scoring Felps.
Hayden singled with two outs to drive in Voinché to make it 5-0.
Samantha Walsh picked up an RBI in the sixth inning to make it 6-0 with a bases-loaded walk, before Voinché picked up her second RBI of the day, driving in Kendall Smith in the seventh. Voinché later scored on an error for an 8-0 lead.
Elkins also had a two-hit and two-RBI game, hitting her homer in the first and adding a single in the fifth.


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login with
Increased Heart Rate during pregnancy
Cardiac volume increases by approximately 40 to 50 percent from the beginning to the end of the pregnancy, causing an increased cardiac output. An increased cardiac output may cause an increased pulse rate during pregnancy. The increase in blood volume is needed for extra blood flow to the uterus.
Ah yes.. I had a fast pulse QUITE often while preggo :)
Makes complete sense!
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|Nicholas Orr <Nicholas....@mim.com.au>
|Servlets are not executing init()
|Tue, 03 Sep 2002 00:41:55 GMT
Hi, I have just reinstalled my computer, fdisk, format install. I have packaged up my webapp into a war and deployed it to Tomcat. But when I go to the servlet I get null pointer exception errors, because somethings have not been executed in the init() methods. What would be the reason for the init methods not being executed??? Is there a proper way to test this is the problem? It was working yesturday, I haven't changed any code just reinstalled my system. If you need more info I can give it, if you want the war file I can upload it somewhere. Please help me, Nicholas Orr ********************************************************************** The information contained in this e-mail is confidential and is intended only for the use of the addressee(s). If you receive this e-mail in error, any use, distribution or copying of this e-mail is not permitted. You are requested to forward unwanted e-mail and address any problems to the MIM Holdings Limited Support Centre. For general enquires: ++61 7 3833 8000 Support Centre e-mail: firstname.lastname@example.com Support Centre phone: Australia 1800500646 International ++61 7 38338042 ********************************************************************** -- To unsubscribe, e-mail: <mailto:email@example.com> For additional commands, e-mail: <mailto:firstname.lastname@example.com>
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New Navigation Puts Google+ Buttons Directly on Search Page
Photo of the author, Jennifer Beese by Jennifer Beese on February 06, 2012
It's unclear if or when this new navigation layout will be introduced to the public, but if you prefer this look over the current one, you can start using it now.
To try out the new navigation, visit Google.com and open the Developer tools within the browser.
- Open the Developer tools within the browser. If you are using Google Chrome, press CTRL + SHIFT + I, in Firefox press CTRL + SHIFT + K, and if you are using Internet Explorer (8+) press F12 and then open the tab Console. Safari users press CTRL + ALT + I and in the panel that opens choose Console.
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[Via: State of Search, Image credit: Meneame Comunicacions]
Jennifer Beese: Jennifer Beese has worked as a community manager and social media strategist. When she's not writing, you can find her studying anatomy and physiology—she literally has a skeleton in her closet—or under the stars with her telescope.


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Support Save Our American Raptors on St. Patrick's DayThe S.O.A.R benefit is tomorrow at the landing zone! We still have space available in our tandem program. Give us a call to set up your reservation to fly with us on March 17th and mention S.O.A.R and we will donate a portion of the proceeds to this wonderful organization. 706-398-3541. Check out the video of Dale and Diane on a local newscast. They are showcasing a couple of the birds that will be on hand at Saturday's benefit. Both women are hang glider pilots here at Lookout. Dale has been flying for years and Diane recently cleared off of the training hills and is ready for her first mountain flight. Please come out and join us for the fun and festivities!
Posted by Jen | March 16th, 2012 | Comments (0)


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Description: Maurice Blanchot, the eminent literary and cultural critic, has had a vast influence on contemporary French writers-among them Jean Paul Sartre and Jacques Derrida. From the 1930s through the present day, his writings have been shaping the international literary consciousness.The Space of Literature, first published in France in 1955, is central to the development of Blanchot's thought. In it he reflects on literature and the unique demand it makes upon our attention. Thus he explores the process of reading as well as the nature of artistic creativity, all the while considering the relation of the literary work to time, to history, and to death. This book consists not so much in the application of a critical method or the demonstration of a theory of literature as in a patiently deliberate meditation upon the literary experience, informed most notably by studies of Mallarm, Kafka, Rilke, and Hlderlin. Blanchot's discussions of those writers are among the finest in any language.Ann Smock's fluent translation retains the tone and sense of the French; her introduction situates Blanchot in the French and American cultural spectrum and outlines the history of his critical concerns. Ann Smock, an associate professor of French at the University of California, Berkeley, also translated Blanchot's The Writing of the Disaster for the University of Nebraska Press in 1986.
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Maurice Blanchot, 1907 - Novelist and critic Maurice Blanchot was born in 1907. Some of his works in translation include "Death Sentence" (1978), "The Gaze of Orpheus" (1981), "Madness of the Day" (1988), "The One Who Was Standing Apart From Me" (1993), all of which were translated by Lydia Davis, and "Michel Foucault as I Imagine Him" (translated by Jeffrey Mehlman, 1987).
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text: Me & my boyfriend have been together for 2 yrs now. Our child is due on the 17th of Sept . However he has a 3 year old daughter with another woman from a previous relationship. I didnt find out she was pregnant until I was 3 months pregnant. She called up my boyfriends phone crying, and tellin him that she was pregnant. Turns out her due date is a couple of weeks after mine, She told him she can't get a hold of the child's father bcus she doesn't even know what his full name is, or what his number is. THEN, she asked my boyfriend if he could father her unborn child since they already have a daughter together. He told her he needed to talk to me about it first, and then hung up . Of course i'm uncomfortable about it, because in the begining of our relationship she was heated about us being together and ended up slightly stabbing him with a kitchen knife and ended up in jail for a a coouple weeks. However they're still 'cool' with each other bcus of their daughters sake. Yeah, I know its crazy as fucc. I just broke down because I dont know how he could consider to be a father to her child after what she's put him through, PLUS having his OWN child on the way ? He said he will not claim her child if it messes up our relationship & won't do it if I don't want him to. But how can I say no without feeling so guilty. If she doesnt know who her baby daddy is & can't get a hold of him, it already means her new baby will go wherever their daughter goes. Including visits to her dad/my bf's house.


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Davis, 70, will also oversee BMG Distribution, BMG Strategic Marketing, and BMG Canada. He will report to Rolf Schmidt-Holtz, chairman and chief executive officer of BMG.
The group, which will be based in New York, will not include BMG Classics nor RCA's Nashville labels.
Davis left Arista because of disagreements with the previous management over a succession plan and whether he should mentor a successor. Bertelsmann, BMG's parent company, traditionally enforces a retirement age of 60 on its top executives.
David then founded a new label, J Records, with BMG's backing and in 2002 was named head of the RCA Music Group, formed by the merger of RCA Records with J.
Charles Goldstuck, president and chief operating officer at RCA Music Group, will become president and chief operating officer of BMG North America, where he will report directly to Davis.
Last month, Antonio "L.A." Reid, who took the helm at Arista Records after Davis's departure, and oversaw platinum successes from acts including OutKast, Pink and Avril Lavigne, left the label.
"It's thrilling. Things come full circle," Davis said in an interview. "Yeah. It's gratifying. I'll be with all my old friends at Arista."
Davis declined comment on Reid's stewardship of Arista.
"I know he's going to have a great future," Davis said.
It was unclear how the pending merger of Bertelsmann AG and Sony Corp., announced in December, would affect the operations of the two music companies or whether Davis would supervise Sony's North American music labels after a merger.
"It's too premature," said Davis, who added he had been signed to a "long-term contract."
Schmidt-Holtz said he was pleased to have Davis heading the new group's creative efforts.
"I couldn't be happier that Clive agreed to assume this greatly expanded responsibility at BMG," Schmidt-Holtz said in a statement. "On a personal note, I have to say that since I assumed my role as chairman of BMG, Clive has become not only a trusted business colleague, but also a confidante and partner."


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Each month, Rated People connects over 50,000 homeowners with quality tradesmen - simply enter your job details in the form above to get started.
We'll match your job to the relevant tradesmen in your area - those interested will pay to see your contact details and call you to quote.
As each tradesman expresses interest in quoting on your job, we'll send you their profile and ratings to help you choose the right one for you.
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Parks & Recreation
Capital Improvement
415 S. Vandemark Rd.
Every year in consultation with the Recreation Board, a list of proposed Capital Improvement Projects/estimated cost is prepared. An attempt is always made to meet priority needs and provide the citizens of Sidney with safe, wholesome leisure activities.
Capital projects for 2017


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CCA Fax Support in UC520
Will it be anytime soon that incoming fax to e-mail support will be configurable from the CCA?
I am basically looking for a simple way to say that one phone number that can be used for incoming calls (ISDN) should automatically assume there is an incoming fax, and should just e-mail the fax as an attachment to a predetermined e-mail address. Nothing more fancy than that.


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With the completion of the Synevo Central Medical Analysis Laboratory, the image of the Romanian medical industry experienced a considerable refresh, both from the point of view of the facility's quality standards as well as the architectural concept.
Chosen due to its environmentally friendly characteristics, as well as its acoustic and aseptic attributes, the Tarkett vinyl flooring variety from the Tapiflex Excellence collection adds a touch of colour and design, contrasting with the green and fuchsia furniture of the offices and the white and gray ones of the laboratories. At the same time, the patterns of the flooring mark the various facility functions, acting as a map on a 1:1 scale. Thus the 6.000 m2 installed throughout the concept formed the center piece to bring the architectural design concept to life.


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River Viiperi is working up a sweat in character as Julian Kaye from "American Gigolo" in his cover story for Odda Magazine's new issue - and I ain't about to ask him to stop anytime soon. For a look at Paris' cover story for the same issue click here.
Photography: Taylor Edward
Styling: Gregory Wein
Grooming: Mari Matsumoto
Collage by yours truly. The new issue of Odda is unfortunately already sold out online.


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To commemorate USA TODAY's 25th anniversary, a panel of USA TODAY's NFL reporters and editors has produced an anthology of the 25 best NFL players of the past 25 years. Working down from No. 25, we will unveil one player each weekday until training camp season arrives:
•No. 17 Mike Singletary | Full list of USA TODAY's Top 25
A cornerstone of the Chicago Bears' during the 1980s, Mike Singletary earned the 17th spot on USA TODAY's list for leadership he provided to the league's most suffocating defense.
A two-time Defensive Player of the Year in 1985 and 1988, Singletary missed just two games during his 12-year career and was the Bears' leading or second-leading tackler in his final 11 seasons.
An emotional leader for Chicago, Singletary set an example for efficiency and consistency his teammates followed. Said the Bears linebacker, "To me, sacking the quarterback isn't that big of a deal. When I get to hit a great back in the hole or when I knock down or intercept a pass, that's where I get my thrill."
Singletary powered a Chicago defense that was the NFL's top-rated for three consecutive seasons from 1984-1986 and that surrendered the fewest points in the NFL in 1985, 1986 and 1988.
The 1985 season was a highlight for Singletary as he and the Bears rode the league's top defense to a 15-1 record and the team's only Super Bowl title. He picked up two opponents' fumbles in the Super Bowl victory against New England, as Chicago capped a postseason that included two shutouts and a cumulative 91-10 scoring advantage.
"Samurai Mike," as Singletary came to be known, was an intimidating force for more than a decade. But teammates and coaches also credited the Hall of Famer with his willingness to accept criticism and adapt.
"That's what kept him at his peak," former Bears linebacker coach Dave McGinnis said in 1991. "He's still willing to take coaching and listen to new ideas. It's what sets him apart from other guys who reach so-called star quality."
Singletary, a member of the All-Decade team for the 1980s, was elected to the Pro Football Hall of Fame in 1998.
Sources: Chicago Bears, Pro Football Hall of Fame, USA TODAY research
About this series: A panel of 10 NFL reporters and editors at USA TODAY cast votes in this project. Points were assigned (25 points for the player voted No. 1, 24 points for No. 2, etc.), and the cumulative points determined the rankings.
• The list covers the past 25 seasons. Instructions to panelists stated that if a player competed in any one of those seasons, then the player's entire career could be considered for the rankings.
• After all 25 players have been named, USA TODAY will reveal the complete voting results.
Conversation guidelines: USA TODAY welcomes your thoughts, stories and information related to this article. Please stay on topic and be respectful of others. Keep the conversation appropriate for interested readers across the map.


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Executive Creative Director: Curt Detweiler
Art Directors: Yves-Eric Deboey, Mathieu Degryse
Copywriters: Curt Detweiler, Yves-Eric Deboey, Mathieu Degryse
Highest Rated
It is just saying that nissan is for men (little icon on the right side of the logo) and that bathroom is definitely a man's bathroom. That is it... nothing about a beard... It's pretty clear.
I'm not sure I get these ads. Explanation anyone?
Doin' it for the points
That's kind of what i was thinking but thought that there was maybe some sort of hidden message that I'd missed.
Doin' it for the points
I can't belive u guys didnt get get!!!!!
it seems that the nissan owner is so busy playing or doing whatever with his nissan that he didnt shaved his beard a long time ago... and that shows from the amount of hair in the sink!!!
Is that really it? I get that much hair in the sink after just one shave.
I'm messy.
Think they maybe needed to push it further for it to be clear. If the guy had used clippers to shave off a massive beard maybe.
Doin' it for the points
Actually the driver picked up a chick then took her home and shaved her. or he picked up a french woman. ;-)#
No, Sick youre right, it would have been cool if there are dirt as well.
Arnold Santillan
i dont like these... bad photography
~ old habits die hard, older ones never do ~
Im sorry for you guys. But unfortunely your ad sucks and won't get any award. So please go back to that small meeting room where you were creating scam ads and create a few more.
Guys plaaaese! It's so obvious! He's brought a Navara cause his wife was nagging him and he needed to get away but he enjoyed the drive so much his beard grew really long. He finally returned home (cause he was horny), knew if he didn't have a shave he wasn't gunna get any and as soon as he finished, he sprinted off to look for his wife, thus leaving a dirty sink. Duh!
And on that note I believe the mystery of the confusing ad has been solved.
Well done that man.
Virtual Hi-5! send.
Doin' it for the points
Weak Work. Tells me nothing about the Nissan, only that it's for dirty people.
It is just saying that nissan is for men (little icon on the right side of the logo) and that bathroom is definitely a man's bathroom. That is it... nothing about a beard... It's pretty clear.
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This is the author site and blog of Courteney Levet. That's me. By clicking through this site you can learn about me, Courteney, my publications and ongoing projects, editing, and even my thoughts on various writing related topics.
Here you will find a heaping helping of thoughts about things from writing inspiration, to post-apocalyptic stories, and even cats. Yes, cats. Usually, dogs are toted as man's best friend, but cats, in large part, have called dibs on the artist, the writer, the up all night stay at homer. (Note: not necessarily Homer.)
I, Courteney Levet, encourage each of you, friends, to engage in discussions on the topics found on my blog. I encourage you to share your thoughts and to reach out to the other lovers of books and literature who have found their ways here. Most importantly, I encourage you to enjoy yourselves, because that's the point, really. You've made your way here, so have a wonderful stay.
Most Recent Posts
- Dythoids: Talkative Characters - Instead of a Prompt Writings post this week, I'm going to share a little snapshot that popped into my head the other day after watching the first Pirates of the Caribbean movie.
- Sitting Down and Writing: Romance in Science Fiction - If you follow me on twitter, you might have seen a recent tweet I sent out about the damaging role of overpowering romantic relationships in Dystopian, apocalyptic, and post-apocalyptic literature.
- Prompt Writings: What to do? - Happy New Year, friends! I hope you all are able to find plenty of success in 2017. Here's hoping, too, that the year doesn't hang as heavy over the world as last year did.


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sold property under threat. What to do?
My father lives with myyounger bro. last 10yr bro forcing sell house. house got sold 2mths bak inexchange with house/cash. with out my presense or signature in sub registrar court. 1 mth left to move out. 101% property was sold with threat 2kill father n myself father sick n bed ridden. when i came to know sent email to dcp stating house was sold with threat 2kill father n me. Is that legal how property got sold with out my present n signature. can i go2 court ask 4 stay. i do have blank paper with father signature will this help file complaint with police n 2get stay. thankx
You can get a stay from the court if the property was an HUF, ancestral or a property in which you had a share. You should file a suit for Partition If the property is undivided and get a stay on the property. You should also challenge the validity of the sale deed.
Advocate Arjun Vinod BobdeSupreme Court of India, Delhi
Sir, in case the house was your father's self acquired property your sign is irrelevant for selling the property. However if the property was ancestral you have a share in it and the same could not have been sold without your consent and if that is the case you can challenge it. The sale may be challenged even otherwise if coercion and undue influence can be established
Advocate Rajat JosephNizamuddin East, Delhi
Yes offcourse you can. Obtain a stay from the court depending on the title of the property. Kindly contact for detailed consultation as many more facts are required before strategizing the best legal option.
Advocate Vanshdeep DalmiaJor Bagh, Delhi
Send a legal notice to builder for delay in construction @ Rs. 1999/- only
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- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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If you are looking for a convenient way of exploring the best spots on the island without the hassle of driving yourself, then the Coconut Tour buses may be the best bet for you. These buses take you to some of the most popular attractions and spots on the entire island, including caves and beaches.
The tours by Coconut Tours can be customized. Working much like city buses, you will be able to transfer from one bus to another at certain junctions. Their top guided tours are the 360 Degree Island Tour and the Cave Tour. If you're traveling with a large group, you can hire the buses for basic transportation as well.
Coconut Tours' main office is open from 8:00 a.m. until 5:00 p.m.
Coconut Tours is located in Bridgetown, southeast of downtown Bridgetown.
Location: Bay Street, Bridgetown, Barbados
Phone: (246) 437-0297
Secondary Phone: (246) 228-9820
Website: http://www.coconuttoursbarbados.com/
Email: firstname.lastname@example.com
Help us improve! We welcome your corrections and suggestions.


text: Four years on from the financial crisis, Bank of America continues to see its mortgage repurchase claims grow, although the company has set aside major reserves to cover expected putback and legal costs, mainly springing from the disastrous purchase of Countrywide. During the second quarter, Bank of America's total mortgage repurchase claims increased by 41% to $22.7 billion as of June 30. The statute of limitations is running out for 2006 MBS deals, but mortgage loans continued to be packaged during 2007, so we can expect to see the flurry of lawsuits to continue for at least another year. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn


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Challenge the owl here.
Part of the campaign developed by BBDO Argentina for PepsiCo was to launch Twister by Tropicana, the agency presented a game: challenge the owl. As every fruit has a different percentage of water, Twister developed each flavor matching the perfect mix of water and juice just like Mother Nature intended. This inspiration from nature is presented not only in the product but also in the communication campaign, which has as its star Pachamama (Mother Nature) and all her wisdom. The Pachamama gave to the owl the capacity to go hours without blinking to make sure it could stay alert for any dangers lurking in the night. For this reason we invite fans to take on the owl using a webcam and a technology that detects the slightest blink.
Digital advertisment created by BBDO, Argentina for Tropicana, within the category: Non-Alcoholic Drinks.
Executive Creative Directors: Rodrigo Grau, Ramiro Rodríguez Cohen
Creative directors: Jorge Ponce Betti, Gabriel Huici
Director of interactive experiences: Pablo Tajer
Interactive producer: Veronica Conti
Creatives: Andrés Aguilar, Manrique Alvarado, Guido Lancellotti, Maximiliano Ballarini
Account director: Daniel Albamonte
Account executive: Sofia Gallo
Digital partner: Nix Digital
Highest Rated
funny. but what if i use a still picture? does the owl then blink after some hours and i win the secret jackpot of mices?
funny. but what if i use a still picture? does the owl then blink after some hours and i win the secret jackpot of mices?
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We can help you to locate a sitar teacher in Powys and across the UK. First Tutors: Music profiles Powys sitar teachers and others offering popular instruments like piano, violin and guitar. Grade and diploma sitar tuition are all catered for across Powys as well as sitar tuition just for fun. Please use our service to search for sitar teachers near you and select which sitar tutors best suit your needs.
This is the best place to find the most talented sitar teacher for your needs in Powys, whether you are looking for sitar lessons to learn a new instrument, develop a hobby or train as a musician.
Our search will order sitar tutors in your area according to their charges and proximity to you. Instruments include piano, violin and guitar for graded music exams or just for fun.
If you are a Powys sitar teacher wishing to offer your sitar tutoring services in Powys or anywhere else across the UK, please register with First Tutors: Music to commence giving sitar lessons or find out more about us here.
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