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Author | exchange4media News Service | Tuesday, Jul 12,2011 9:01 AM
Fitch Ratings, in a comment published on July 11, 2011, stated that increasing newsprint prices are likely to have a negative impact on profitability of the Indian print media industry in the short to medium term.
"Newsprint cost is the largest operating cost for newspaper publishers, and typically accounts for 40-50 per cent of total operating costs. Further, high competitive intensity in the industry is likely to prevent newspaper publishers from raising cover prices significantly," said Sahil Aggarwal, analyst in Fitch's Telecom, Media and Technology team.
In May 2011, domestic newsprint prices had increased by 13.4 per cent, as compared to average prices in 2010. On the same basis, international newsprint prices (US) were up 7.2 per cent. Newsprint cost is the largest operating cost for newspaper publishers and typically accounts for 40-50 per cent of total operating costs. At the same time, Fitch Ratings notes that competition is likely to prohibit newspaper publishers from raising cover prices significantly (and thus passing on incremental costs to the consumers).
Fitch Ratings expects that an increase in advertising revenues may partly offset the rising cost of newsprint. Newspaper publishers generate about 70 per cent of revenues from advertising, with the remainder coming predominantly from circulations. It should be noted, however, that expectations of moderate economic growth will negatively affect advertising revenue growth. In its 'Global Economic Outlook', dated March 2011, Fitch Ratings marginally revised its expectations for India's GDP in FY12 to 8.3 per cent from 8.5 per cent; this was further reduced to 7.7 per cent in its report 'Global Economic Outlook', dated June 2011.
Consequences of Fluctuating Newsprint Prices
Domestic newsprint prices were above Rs 35,000 per tonne for a 13-month period starting April 2008 to May 2009. High newsprint prices resulted in a significant erosion in EBITDA margins across the print media industry. EBITDA margins troughed at 18.3 per cent in Q4 FY09, registering a decline of 12.5 per cent from Q1 FY09 (30.8 per cent). However, the agency notes that along with high newsprint prices, advertising spending was also under pressure during this period. As newsprint prices declined and economic activity – and consequently advertising – started to pick up, EBITDA margins improved from Q1 FY10.
In contrast to FY10, FY11 was a mixed year for newspaper publishers, when moderate revenue growth was offset by steadily increasing newsprint prices. Consequently, industry EBITDA margins declined to 20.6 per cent in Q4 FY11 from 35.5 per cent in Q1 FY11.
Fitch's analysis of eight leading national and regional newspaper publishers shows that raw material costs, as a percentage of operating revenues, increased to 40.4 per cent in FY09 from 34.3 per cent in FY08. As newsprint prices fell in FY10, this ratio improved back to 33.0 per cent.
Managing Profitability by Changing Suppliers
Newspaper publishers use a mix of domestic and international newsprint and companies vary this proportion to better manage costs and the quality of newsprint. Since both domestic and international rates are moving in tandem, Fitch Ratings believes publishers may not be able to reduce costs significantly, even by changing this mix.

subset: commoncrawl


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What next?
As you know, a Battle of the Bubbles is going on. The worldwide bubble in liquidity is still getting bigger and bigger. The European money supply, for example, was shown to be growing at its fastest pace in 17 years. The supply of the local currency in India is growing at a 21% annual rate. In the United States, the authorities no longer report M3, the broadest measure of money supply. But experts have clocked it growing at about 10% per year – three times faster than the goods and services it is meant to buy.
Where all this money is coming from is a long story. Where it is going is simpler. It is going into financial assets, which have been going up many times faster than consumer prices.
One day of course, the whole process has to go into reverse. That's a long story too. But never was there a bubble that kept expanding infinitely. The reason for that is simple too. By definition, it is an anomaly. It means that certain things are growing much faster than other things – bonds faster than gold…or Chinese stocks faster than retail stocks. Imagine a man's nose growing faster than his face…or cars growing faster than the roads they are driven on. If this were to continue forever, the whole world would be ridiculous. That's why there are 'corrections' to put things back in order.
Right now, the Big Bubble Battle is a fight to determine how and when the worldwide liquidity bubble gets corrected. On the one hand, the U.S. housing bubble is deflating. On the other hand, the amount of cash and credit in the world at large – judging from the money supply figures – is still increasing.
And last week, a new battle zone opened up. Equities – especially those in China and emerging markets – suddenly started taking incoming fire. All around the world, stock market investors rose up to attack bubble level share prices. The following day was calm. And then, the Dow dropped more than 200 points before staging a wobbly recovery. It ended the day still about 360 points below where it began on Monday. Asian markets continued to go down – with Chinese stocks giving up another 2.7%.
Meanwhile, central bankers in Beijing, Brussels, Tokyo and Zurich warned that there was too much speculation going on…and that they were going to do something about it. So far, they haven't done much…but there's always tomorrow.
And last week, too, former U.S. Federal Reserve chief, Alan Greenspan, first told an audience in Hong Kong that as far as he was concerned, a United States recession in 2007 was nothing to laugh at. On Thursday, he backtracked, after being accused of causing the sell-off himself. "By the end of the year, there is the possibility, but not the probability of the United States moving into recession," Greenspan is reported to have told another audience.
His earlier statement was, "probably misinterpreted, that's why we see a clarification today," said Glenn Maguire, chief Asia economist for Societe Generale SA in Hong Kong.
Our guess is that it wasn't misinterpreted at all. Greenspan has long made a habit of saying anything people want to hear. After people told him that his 'recession' comment was unwelcome, he took it back.
Ben Bernanke, too, took the microphone to tell investors what they wanted to hear. Recession, he asked? He didn't see any recession.
Even "Freddie Mac Tightens Standards", says the New York Times. And mortgage defaults – so far limited to 'subprime' borrowers – seem to be busting into better neighborhoods.
"Mortgage Defaults Start to Spread", begins an article in the Wall Street Journal.
The WSJ reports that a record USD $400 billion of midlevel loans – better than subprime…but not quite prime prime – were originated last year. Now, these loans too are beginning to come under fire.
So now the war is on. Manufacturing in the United States has practically run up the white flag. Housing is under siege. And this week showed that stocks were vulnerable too.
What next?
We don't know, but our Crash Alert flag is flying. Our money is tucked away. The bar at the beach shack is stocked and ready for our return. Heck, if the going gets really rough…we'll take another vacation!
Bill Bonner
Markets and Money


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It's Better in The Bahamas: Angela's Dolphin Swim
Posted by: Nassau Paradise Island on March 12, 2016
Have you ever had the opportunity to swim with a dolphin? These friendly, social animals are beloved all over the world, and for good reason – they're smart, they have great personalities, and the fact that they're adorable doesn't hurt! In Nassau Paradise Island, dolphin lovers can not only see dolphins from a distance, but get up close and personal with them as well.
Dolphin Cay at Atlantis offers both shallow-water and deep-water interactions with dolphins, as well as interactive "trainer for a day" programs. Swim with dolphins or spend the day working with them and caring for them – it's an incredible experience!
Earlier in March, Angela and her family spent a vacation at Atlantis Paradise Island, staying in Royal Towers and enjoying a day at Dolphin Cay and fulfilling a lifelong dream of seeing a dolphin up close.
"I have always wanted to see dolphins!" Angela says, calling Dolphin Cay a once-in-a-lifetime experience. "The trainers were very professional and obviously care a lot about the animals."
Aside from Dolphin Cay, Angela says "the people, the beaches, the food, the activities, the weather" all made her family's trip so enjoyable.
"If you have been thinking about (traveling to The Bahamas) – GO!" she advises. "Beautiful place and wonderful people."
Great advice, Angela! If swimming with dolphins is on your bucket list – or if you just want to escape to a place with sunny skies, warm waters, and beautiful beaches – Nassau Paradise Island is the perfect destination for you. And with our current travel deals, you may be pleasantly surprised by just how affordable it is to get away to Paradise!
Have you visited The Bahamas? Tell us about your experience in Nassau Paradise Island and you could be featured in next week's blog post. Who knows – maybe all those memories will prompt you to book a return visit!


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Guess GU 6591 SI-35A Men's Silver Frame Aviator Sunglasses
The Guess GU6591 SI-35A sunglasses combine fashion and comfort in a innovative design. These sunglasses are not only stylish but also comfortable for everyday wearing. The color combination of black and silver Frames and grey gradient lenses makes this pair a great addition to a large variety of outfits. The oval full rim shape will look great on any facial features, adding mystery and style. Guess eyewear provides a glamorous lifestyle and portrays energy and passion.


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In The Mood – A 1940's Musical Revue
In The Mood – A 1940's Musical Revue
Much more than a concert, InThe Mood presents a retro 1940's Musical Revue, featuring the In The Mood Singers and Dancers with the sensational String of Pearls Big Band Orchestra. The music and the arrangements are as authentic as it gets! Come hear the music that moved the Nation's Spirit!
Past dates
- Occurred Wednesday, January 8th, 2014 @ 8:00 pm


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New Administrative Team Leading Colorado State's Veterinary Teaching Hospital
- Jul 7, 2008
- Topics:
The James L. Voss Veterinary Teaching Hospital (VTH) has two new leaders at the helm, though the names may be familiar to most people associated with the College of Veterinary Medicine and Biomedical Sciences. Dean Hendrickson, DVM, MS, Dipl. ACVS, has accepted the position of interim hospital director and Joe Schwarz will serve as hospital administrator. Both have a long history of service at the college.
"Dr. Hendrickson was formerly interim hospital director from December 2006 to July 2007 and, during that time, he demonstrated exemplary communication skills and operated the hospital in a balanced budget manner," said Lance Perryman, DVM, PhD, dean of the College of Veterinary Medicine and Biomedical Sciences. "Joe Schwarz has 25 years of previous experience with the hospital, and has exceptional skills in human resources and fiscal management. He was retired but had come back to the college to work two days a week on special projects. He now will be assisting Hendrickson with building a reorganized leadership team."
In addition to the new leadership team, the hospital will receive an infusion of funds from the state of Colorado and from Colorado State University. Sen. Steve Johnson has set forth legislation that will provide $1 million each year to the VTH beginning July 1, 2008. This will assist in paying ongoing costs, including salaries. University President Larry Edward Penley and Provost Tony Frank are providing up to $1.5 million in University funds to cover anticipated deficits this fiscal year.
"The proven skills of our new leadership team will allow for the successful operation of the hospital as we move through challenging economic times," said Perryman. "I have every confidence in their complementary abilities to operate the VTH in a way that moves us forward with vision and fiduciary responsibility."
Hendrickson, who is a professor in the Department of Clinical Sciences, is a board-certified surgeon working primarily in equine medicine. He had previously led the Equine Hospital Section in addition to serving as interim hospital director. Schwarz worked for many years in the college's and hospital's administrative offices, spearheading the college reorganization efforts completed in 2001 that shaped the future direction of the college and established its current organizational structure.
The future designation of a new hospital director will occur in early to mid-2009. Dr. Perryman noted that potential candidates for hospital leadership positions must be able to lead and provide vision, communicate effectively with the VTH community, build an effective team, balance the budget, make decisions, and meet deadlines.
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text: Project Description Centered on seamless transitions of indoor and outdoor living, this open-planned Spanish Ranch style home is situated atop a modest hill overlooking Western San Diego County in the hilltop community of Cielo. The design references a return to historic Rancho Santa Fe style by utilizing a smooth hand troweled stucco finish, heavy timber accents, and clay tile roofing. By accurately identifying the peak view corridors the house is situated on the site in such a way where the public spaces enjoy panoramic valley views, while the master suite and private garden are afforded majestic hillside views.


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Parts of Rajarhat in Salt Lake 'corporation'?Suman Chakraborti | TNN | Sep 25, 2012, 05.50 AM IST
KOLKATA: The Bidhannagar Municipality will soon be upgraded to a full-fledged municipal corporation to provide better civic amenities to its residents. The government is working on a map to figure out which areas around Salt Lake can be included in the corporation.
"Our officials have already started land measurement to come up with the map," said state urban development and municipal affairs minister Firhad Hakim. The government reportedly plans to include some parts of Rajarhat and its surroundings in the new corporation.
Being a satellite township where several eminent citizens including bureaucrats and ministers live, there has always been a demand for improved civic services in Salt Lake. Finally, in January this year, chief minister Mamata Banerjee announced the government's plan to upgrade the municipality to a municipal corporation.
Municipality officials are upbeat about the upgrade. "A municipal corporation enjoys several benefits, including more manpower and massive grants from the government. "For instance, now we get an annual grant of about Rs 3.30 crore. The amount will jump to more than Rs 10 crore once the municipality turns into a municipal corporation," said an official.
Increased manpower will translate into improved civic services like garbage disposal and cleaning of roads. "There are only three chairman-in-council members along with the chairperson and vice-chairperson, who are collectively responsible for different civic matters. A corporation will have around 15 MMiCs to look after separate issues," explained a civic official.
Also, with Salt Lake and its adjoining areas set to get more water from Tallah now, having a municipal corporation will help monitor the supply system. The move will also benefit the added areas of Salt Lake like Mahisbathan, Nayapatti and Duttabad, which will now enjoy better civic services.
The Bidhannagar Municipality, which was constituted in 1995, has been facing various problems, including a funds crunch. The biggest problem has been the property tax dispute, which the municipality is yet to sort out. The municipality often faces flak from residents for poor garbage disposal system and bad roads.
Bidhannagar municipality was constituted in 1995
Presently the civic body has three chairman-in-council members, one vice chairman and a chairperson
Problems that the municipality has been facing for long -
* Lack of enough funds
* Dispute in property tax collection since the Supreme Court verdict on 2007
* Solid waste disposal and road repairs still not upto expectations
What benefits the civic body will have once it gets upgraded into a municipal corporation -
* Will get more grant from the government
* Manpower and staff will increase that will help in better and effective coordination and implementation to carry out daily civic services like solid waste disposal, cleaning of roads, road repair etc.
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Freeform Origami is a design software that allows users to interact with origami forms while altering the crease pattern of the model.
Website: http://www.tsg.ne.jp/TT/software/#ffo
Members: 63
Latest Activity: Feb 6, 2016
Started by wenyu wu. Last reply by wenyu wu Jun 7, 2015.
i finally make a cylinder shape of folding, i stitch the vertices together, but when it is a cylinder shape and in planar condition, it is not fold enough, even i press blank key to make it to fold…Continue
Started by wenyu wu Jun 6, 2015.
if i want to make something like this , a cylinder shape of folding surface , do anybody know how to make it or have any example to do it?I not so familiar about FreeOrigami, is it possible to make…Continue
Started by wenyu wu Jun 4, 2015.
Hi Tomohiro,Thank you so much for all your help so far!I am working from Grasshopper3D to generate a large origami installation made of…Continue
Tags: hypars, components, origami, freeform, grasshopper3d
Started by arthur mamou-mani. Last reply by Tomohiro Tachi Feb 26, 2014.
Add a Comment
What version of Freeform Origami has the option of Origamize and Tensegritize as shown in the video.
I'm dowloading The Binary version for win32FreeformOrigami025.zip, but does not have these options.
I could tell from where can I get.
I want to know how to use freeform origami software from the depth ... are there any of the links or materials to understand these software.....
Hi, I've downloaded FODsoftware (thanks Tomohiro!) and I was wondering if someone could upload a cad file with an example to play around with. Many folded thanks!


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Vowel Sounds: Long U, Short U
Learning to distinguish between long and short vowel sounds is an important phonics skill for emergent readers. This worksheet gives kids a group of pictures to cut out. Each picture is an object with a long or short U sound. Kids say the name for each picture, then glue the long U pictures next to the fruit and the short U pictures next to the up arrow.


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So, I've been busy. With cuteness. See, I deal with this level of cuteness on a daily basis:
Or we have this:
Then, one day (today) you come home from work and find this:
(Mind you, we knew this was coming and had setup her birthing area the night before so it wasn't a total surprise this time)
And then your heart melts at the cuteness and really, there isn't anything else you can do but spend time with it. We now have a healthy new litter of 5 kittens. We're calling it Zedd's last ride (he got neutered probably the day after these munchkins were conceived due to temperament issues). Looks like 3 calico's, and 2 black and white tuxedo kittens. 2 are also polydactyl, one calico and one tuxedo cat have extra toe's.


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The allure of working in the drug trade is strong for many, especially in areas where violence has dampened tourism.
All of those other impediments have dampened the enthusiasm of pot investors and pot entrepreneurs.
The creative energy that had made it the center of European literature before the war was dampened.
No doubt ever troubled him; no misgivings ever dampened his ardor.
Tracing cloth must be fastened by pins or thumb tacks, and not dampened.
She never got away from her books, and she drenched us with her successes until our ardor was more than dampened.
That dampened the enthusiasm and ardor of Bandy-legs considerably.
With dampened spirits his eye lights on a second substitute.
He bound up her head with a dampened bandage and left her to sleep.
The afternoon smells of dampened dust and new-cut grass blew in from the street.