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So it's over. Mitt Romney is now on his way to political oblivion. To hear the media tell it, a lukewarm convention, his gaffe accusing President Obama of apologizing to seething Muslim masses and his remarks at a fundraiser in which he impugned nearly half the country as self-pitying victims have done him in. A month ago, he was a candidate with a bulging war chest facing an opponent saddled with a creaky economy. Now he's toast.
But not so fast.
Here's a prediction. Regardless of what Romney does -- even if he continues to stick both feet in his mouth -- he is very likely to see his fortunes rise. That's because it is an iron law of American presidential campaign coverage that what goes up must come down and, conversely, what is down must go up. In short, Romney is going to be the beneficiary of what you might call the "media bounce."
The idea of a media bounce has very little to do with either Romney or Obama. In fact, it has very little to do with any candidate. It has to do with certain proclivities within the American media. As political scientist Thomas Patterson described it in his 1994 study of campaign coverage, "Out of Order," the media really have only four stories to tell: a candidate is winning or losing, gaining ground or losing ground. And he adds, "The press have a distinct narrative for each situation," which is why the coverage of one presidential election pretty much mirrors the coverage of every other election. In the media, every campaign is basically a sequel.
But, as Patterson also shows, these stories are not static. They are dynamic, and they are serial. They provide a narrative arc for the entire campaign, replete with twists and turns. When a candidate is riding high, the media magnify his success, creating a bandwagon effect. They tout his campaigning prowess, his human touch, his political instincts -- while, of course, telling us how his opponent founders.
And then something strange happens. Suddenly, with the slightest misstep, the aforementioned perfect candidate finds journalists saying that his prowess is faltering, his touch failing. The "losing ground" narrative kicks in, and guess what? Just as suddenly the once-trailing candidate is gaining ground.
His campaign has righted itself, he has become better on the stump, and his poll numbers are likely to rise.
In both cases, the media are magnifying small blips into large mountains. As Patterson puts it, "Journalists reason from effect to cause." If a candidate hits a bump or his numbers flag, they will adduce all sorts of reasons why, which only serves to accentuate what it is they are reporting.
One need look no further than the Republican primaries to test this hypothesis. A recent Pew Center study showed that throughout the race for a GOP nominee, the candidates were on a kind of roller coaster of positive and negative coverage. Romney, the putative front-runner who had been celebrated as battle-tested, found his coverage getting increasingly negative as his campaign wore on. It was new candidate Gov. Rick Perry of Texas who found his coverage growing more positive as Romney's grew more negative, until Perry's slips created a deluge of negative coverage. That led to what Pew calls a "going good" narrative for Romney.
Until he lost to Newt Gingrich in South Carolina, which, in turn, led to a short burst of positive coverage for Gingrich, and to the new meme that Romney was a candidate who couldn't "close the deal." Then it was Rick Santorum's turn for good coverage. It wasn't until Romney beat Santorum in Michigan that the media jumped back on his bandwagon and made him the inevitable choice. It was the media that was at the roller coaster controls.
Why the political press raiseth up only to taketh down, and vice versa, is a matter of speculation. One observer attributes it to a "subliminal mother instinct" among journalists that helps sinking candidacies. Others, including Patterson, pin it to the "story imperative" of the media -- the need to turn everything into a drama or risk losing readers and viewers. A campaign without suspense would be a dull campaign indeed, so the media give that suspense a little nudge. Not incidentally, it also makes reporters the creators of the campaign narrative and not just its passive recorders.
While you can't discount this entertainment function, there is another possibility. The mainstream political media pride themselves on their objectivity. To redress an imbalance, even when they have contributed to it, is one way to demonstrate that objectivity and even-handedness -- a demonstration, by the way, that seems even more necessary when those on the right are constantly caterwauling about liberal media bias. In effect, the media rig the race by constantly modulating it, which may be the biggest bias of all.
So Romney will have his day again, probably sooner than later. So long as he is passable in the debate on Wednesday, the response is likely to be that he performed very well, that his campaign has finally found its footing and that he has regained his mojo. And that Obama may be losing his. That is the way campaigns are covered in America.
It is practically guaranteed.
Neal Gabler is at work on a biography of Sen. Edward M. Kennedy. He wrote this article for the Los Angeles Times.


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Help bring the wonderful new season of the artist documentary series The Creative Lives to San Francisco for a live showing by donating to their Kickstarter campaign.
Fecal Face will be featured in a short film focusing on our 10 year show which went down last year at The Luggage Store (pics).
Lots of goodies available for those who donate like prints, shirts, and $7 gets you a Creative Lives Sketch Kit. Consider donating now.
Help The Creative Lives bring their wonderful new documentary series here in San Francisco.
FFDG doing their part on Clement St.
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subset: commoncrawl


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Image: Cloaked Moss Frog Theloderma palliatum, lateral view
The Cloaked Moss Frog Theloderma palliatum was discovered by Australian Museum scientist Dr Jodi Rowley and colleagues at the University of Science - Ho Chi Minh City, the Institute of Ecology and Biological Resources and Vinh University. The species, known only from high-elevation forest on the Langbian Plateau in Vietnam, is named after its ability to change from a dull brownish colour to reveal this bold, high-contrast pattern.
- Photographer:
- Jodi J. L. Rowley
- Rights:
- © Jodi J. L. Rowley/Australian Museum
- Location:
- Vietnam
Last Updated:


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90cm [3']
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REITs should chart a steady but slower-growth path in the coming years. If from time to time you happen to think that real estate investment trusts (REITs) are a short-term phenomenon in commercial real estate, you probably want to rethink that notion.
Recently National Real Estate Investor and Shopping Center World magazines hosted some top REIT executives for breakfast during the recent NAREIT annual conference at the Chicago Hilton & Towers. Their comments, which follow, point to some interesting reasons to consider REITs as long-term market players. The discussion was moderated by NREI publisher Ben Johnson.
NREI: It used to be that you had to get to $1 billion market cap to be considered a player in the REIT arena. Now with the recent Starwood/ITT deal and all of the flavors of the month, who knows. Why is bigger necessarily better? What is the main driver behind size is everything?
John Bucksbaum: In the shopping center industry, there are a lot of efficiencies that you get from having 100 malls. The people who operate one or five malls today are finding that it's a lot more difficult whether it's marketing programs or just leasing to the national retailers. There are CAM issues. You really can operate a center better. Sam (Zell) talks about the price breaks you get when buying in bulk, and it's true. If you're doing it for the right reasons ... we're doing national marketing programs and sponsorship programs and Steve's (Sterrett) doing the same thing. These were opportunities that were never available to any of us previously. You can offer a company 120 cities across the United States to advertisetheir product. That's a whole separate business from the shopping center business, but we find a lot of those types of advantages for us.
Steve Sterrett: There are tremendous operating efficiencies, but there are also great capital market benefits to size. Once you get to a certain critical mass that your currency becomes more known and more stable, it becomes more attractive to people as you then seek to grow through acquisitions. You get to a certain size and the rating agencies become comfortable with you, you get to be an investment-grade company, you can tap into the unsecured debt market and I think it perpetuates the ability to then continue your growth because your currency becomes more attractive to a larger group of people.
Bucksbaum: Then those smaller players want to associate with the bigger guy if they're thinking about taking currency for a property because they're looking at who's got the best opportunities going forward and who's going to appreciate it.
David Helfand: It also gets back to why REITs have been so successful and that's liquidity. The size equals liquidity equals value. That's something Sam's (Zell) been preaching for a long time.
Richard Ziman: We're regional, just in Southern California in six counties, and for us, we're almost 10 million sq. ft. and it's big economies of concentration, tremendous economies. We have buildings across the street, down the block, and rather than one or two or three managers, we can have one. We can have roving engineering teams quite honestly, so we cut our costs by a minimum of 15% just by virtue of the concentration and size.
Gary Ralston: I think that size obviously has benefits both from the capital side and operating efficiency. But the real driver should be size as it allows one to better serve their customer. To the extent that happens in REIT-world, it is going to create increasingly distinguishing performance characteristics. Many of the companies that operate in retail and operate nationally with the ability to stand side by side with them and serve them nationally are important, and I think that is going to have a positive impact and eventually become international.
NREI: Isn't there inherent pressure to grow your companies? And is that pressure, be it external or internal, a healthy thing for the industry?
Ziman: As long as it's accretive. We're experiencing tremendous external growth by acquisitions. We started as an IPO in October of last year, at 4 million sq. ft. and now we're 10 million sq. ft. And we're still buying significantly below replacement cost and at cap rates and net operating income that's accretive. Now that's not going to last forever, it just can't.
Bucksbaum: One thing that people don't talk much about -- what if for the last four years we had interest rates of 10% for instance, and all of this spread investing and the accretive acquisitions wouldn't be happening nearly at the pace that it is. Then you'd be relying much more on internal growth and I wonder then what question we would be asking, because I don't think REITs would be growing that much, but yet everyone would have gone public, I would think. If all things were equal but interest rates were much higher, what difference would there be today?
Sterrett: Consolidation would still be occurring and occurring rapidly because the weaker operating companies would be cut off from capital. And we all need capital. It's a capital-intensive business. In my mind the whole consolidation thing is very natural. It's a mature industry, there's not a huge amount of new construction in real estate in the United States and it's capital intensive. And capital-intensive, mature industries are going to gravitate toward consolidation. I know it's the theory that Sam espouses again that there are going to be just a few large dominant national players, but you're going to continue to see that happening, to see a lot of public-to-public mergers, acquisitions of private portfolios and the big are going to continue to get bigger because it's a natural evolution, of not just our industry, but of any capital-intensive mature industry.
Jonathan Weller: There's hardly a strategy that any management or board has adopted that doesn't involve some sort of growth. And it's probably an important function of the fact that we can all grow our portfolios internally, but only to a certain extent, only to the extent that rents might be below market, only to the extent that we can capture operating efficiencies. And virtually every strategy has either some form of growth in terms of assets, in terms of expanding your geography.
Helfand: We've addressed growth from the perspective of the companies and why, but I think the broader picture is that REITs are growing in general because they're a better vehicle to own real estate, and if there's been a sea-change that's going on it's people who are not natural owners, not good owners of real estate, are looking to maximize value by transferring real estate to people who are professionals. And the REIT industry is being driven by well-capitalized, good companies, well run that view their business as a business. They're acquiring assets and they're getting more out of those assets than the people who owned them prior to that.
NREI: Your property niche, for example, is extremely fragmented. Are REITs able to consolidate multiple properties and roll them into a public vehicle to advantage?
Helfand: No doubt. I think in all the businesses, ours isn't so different other than the fragmentation is maybe more severe, but we see a professionalization of the industry. It's driven off Gary's comment that as you try and serve your customer better you need better people on site, you need to deliver better service, you need to be more attentive to their needs. MHC is a better owner we think than others, particularly mom and pops who don't have access to the same type of services, amenities, things like that.
Mike Devlin: What we've seen is the general macro level where you've had the pension funds and institutions that have gone through real estate and have gotten hurt either downsizing or having to pay management fees where they really don't know the business as well as a REIT, as a professional manager. But we've also seen actually on our roadshow the amount of aggressive growth funds, small-cap funds and growth and income funds, and that puts pressure in terms of growth. The story of having a high yield is no longer the case. They really want to understand external growth and the impact of that. But what you have now is not just a real pure REIT buyer, but now you go into a fund complex and you might have four or five different fund managers all representing different spectrums.
NREI: We've mentioned external growth strategies through acquisition, but what are the internal drivers these days if the markets won't be as good as they've been forever?
Ziman: There's a number of things. You can grow by changing property type, additional geographic areas and development, which we've already begun. We'll do in-house all of the smaller development projects. For the larger development projects we're doing joint ventures with local developers. And then there's consolidation among the industry, not just the property type. External growth will continue, I just don't think it's going to continue at the tremendous pace that it has been. We're getting very good same-store growth. Our revenues quarter to quarter, from 2nd quarter to 3rd quarter, we had an 11% increase on same-store growth revenues and a 9% decrease in certain segments of operating expenses, mainly due to size.
NREI: Everyone here has a different niche, from manufactured homes to prisons to freestanding retail to office properties to malls. But the Street has tended to reward companies that focus on a particular niche and don't deviate from it. You can have geographic diversity but really you don't stray from the property type.
Helfand: But there's Crescent and Vornado. In fact, when we took MHC public in 1993, there were a lot of rules. You had to be a local sharpshooter. Everybody's pushing the envelope and that's good for the business, but what was the right thing in the analysts' minds five years ago is very different than what it is today and will be very different. I just want to make a small point but an important one which Dick raised, which is yes, people are focused on growth, but the better investors today are focused on what is same-store growth, who is making it happen on a same-store basis and sort of separating out what the growth component is because if that goes away what you're left with is what is your core business and how can you grow.
Weller: We're a diversified company and have been for 37 years, with our main property types of shopping centers and apartments, and clearly we've had to answer to a lot of people in the industry saying why not spin off one division or another. Our view is that management can build a good team for shopping centers and a good team for apartments and house it within the same company and ration capital based on where the best returns are and also have to be a sharp seller at what point good opportunities arise. So I think the investment community is looking at management teams and saying if they buy into the management team the story is their ability to deliver the results that they've said they can. Then I think you'll find more companies accepted as diversified companies.
Ralston: The scrutiny today has shifted from examining particular property perspectives to more of how the business is run. It should be expected as part of maturity. A lot of the companies have now been publicly operating in their present mode for five years or more. So there is a different analytical focus. It's easier to get your arms around the operating track record of the company and their execution and not be as focused on going and looking at properties on a property tour. Not to say that the assets aren't of paramount significance, but how those assets are run and managed becomes more expressed via the management team and the company business. I think you're going to see increased flexibility. There is obviously a lot of talk about the Crescent/Vornado being opportunity funds. They've taken a different approach to the business, but by the same token, look at the multiples that they're being rewarded with. So obviously they're providing particularly their investors what they're looking for. It may not work for everybody, but it works for them.
Bucksbaum: To get back to your 'flavor of the month,' Basic fundamentals will always win out in the long run. You'll always be rewarded, while it may not seem like it at the time and you don't have a 20 multiple or an 18 multiple today because you're boring and you're operating manufactured homes or malls or whatever it might be. But if you do a good job of operating those properties the market will always recognize that in the long run.
NREI: Will it ever recognize REITs as being above BBB-rating status?
Mark Whiting: I think that's been a differentiating factor for us in terms of being able to do things that perhaps we wouldn't have been able to do on the investment front. Certainly I think the ratings matter less. If you look at the average REIT today, the capital structure is 50% to 100% equity, so if that's a substantial piece of your capital structure and you're not retaining the majority of your earnings, there is such pressure to grow from these companies to sustain a cost of equity that allows you to be competitive. As you said John, all of the stars are in alignment in these companies, the cyclicality of the industry is in a good place. The underlying assets are generally performing well. But there's pressure on every one of the guys running these companies today to sustain growth. The first thing you get asked when you walk into a room of analysts or investors is, 'What's your rate of growth in the next couple of years and how sustainable is that?' It's amazing. If you look at the average growth rates of the top quartile performers, the growth rates have really accelerated over the last four years. There are a couple who have figured out ways to grow by getting a lower cost of equity which begets more growth.
Sterrett: Don't forget, too, pick your number but it's 5% or 7% of the commercial real estate in the country is owned by REITs so we're in a massive growth phase as real estate fundamentally in this country goes from privately held to held as a securitized basis as these REITs accumulate property. So BBB is a very sweet spot on the rating curve right now. You can borrow money relatively inexpensively. You have access to the unsecured market, but yet you're still leveraged enough to really benefit from the growth that's occurring and really have access to capital to take advantage of those opportunities. That won't always be the case. We'll get to a level where the growth will start to plateau as a larger percentage of the real estate is in the REIT hands, but we're nowhere close to that point yet. We're in a cycle where if it's three years, five years, 10 years, you're going to continue to see growth by the aggressive REITs because the opportunity is there.
NREI: And the money's out there. We're watching all of the announcements of unsecured lines of credit. These days they are incredible numbers. And REITs have very little leverage overall, so is there still a lot of room to borrow?
Whiting: The banks are getting increasingly aggressive. That's a plus for the big players. Certainly if you've chosen to go the unsecured rating route you have to operate within a paradigm which probably limits your flexibility more than if you choose not to be that. Certainly most of us are borrowing on revolvers today at 100 over or less. And most of us are putting competitive-bid features in our revolvers which allow us to borrow at something closer to 50 over, and certainly a secured borrower can't compete with that today.
Ralston: The credit facility really provides an opportunity to compensate for market timing, to address the availability of assets by having immediate funding and liquidity if you will, and then being selective as to when to convert that to a longer term capital. And that's a demonstration of an increased level of sophistication in running your balance sheet which is now becoming standard operating fare within the major REITs. The spread issue that Mark mentioned is interesting. When you think about it, we still are paying spreads in excess of industrials and yet our earnings engine is in many respects a more solid, predictable performer than an industrial business. There's less volatility, less leverage in many cases, and one certainly could make a case that over time we'll have an opportunity for a REIT to access capital at spreads that may be below most industrials. So there's probably additional compression opportunity.
Sterrett: Clearly the gap has been narrowing a lot over the last three years and I think that's one of the reasons that you see people redoing their lines and repricing their lines. We are becoming more and more like the rest of Corporate America.
Devlin: I also think that on a macro level we're finding that commercial banks feel they can come in and offer debt, they offer you a line of credit, they want to have your equity participation, and the REIT is a perfect vehicle for them to showcase what are the synergies in buying up the equity distribution that they're doing now.
Sterrett: The banks are paying so much attention to REITs because of all the activity in the IPO and secondary market. We're a huge percentage of their banking fees now. I heard a story about one bank where real estate was over 50% of their investment banking fees for the last year.
Devlin: We're also seeing on the calls and when they come to see us, you've got the commercial banker with their new partner, the investment bank they just bought.
Ralston: Following up on Steve's comment, the activity level within REITs means that our management teams for the most part have become better at addressing the capital markets like some of the major industrial companies because we're practicing it more often. That, I believe, will add to increased capital efficiency and help todrive down the cost of capital.
NREI: Something strikes me about what Mr. Devlin said, that the money is often coming to see you. How many bankers are knocking on your door?
Devlin: Although in a strong market there is a lot more competition, when the market turns down, we'll see what happens.
NREI: Is the money coming after everybody here?
Ziman: It's everywhere, every sector, whether it's investment banks or insurance companies. There's just a lot of money in the system trying to find a home.
Ralston: There is a lot of money available for other business. Look at the availability of technology stocks and technology companies to access via issuance of stock capital at multiples that are astronomical compared to REITs. So there's just an increased capital efficiency in this country and we are benefiting from it. But I don't think it's the result of too much capital chasing real estate per se. It is more readily accessible perhaps.
Helfand: There's a lot of liquidity in the system, no question about it. There's also a lot of supply of real estate and these guys can comment on their property sector, but we haven't seen compression in cap rates. We haven't seen people paying wild prices by and large. And that's because while there's a torrent on the supply side there's a torrent on the demand side.
NREI: You all have a currency which is your stock. How closely and often do you watch your share price? Every day in the paper?
Weller: I can't imagine that anybody has to wait that long. (laughter)
NREI: Do you all have Blumbergs on your desks? Has it gotten to that point?
Ralston: Everybody in our company has PointCast now loaded and what to me is impressive is not just that I know or our CFO knows, but that the administrative assistants in the company are cognizant of how the stock is performing. That's going to have an interesting impact on overall performance.
Helfand: It's amazing how when you grant options how focused people become.
Bucksbaum: That's the exciting part though, when you see the sort of rank and file if you will who takes that same interest, really watching the performance and recognizing that they can affect it, that they really play a part in it.
NREI: Do they also recognize innovation? Every one of you has some interesting twist or turn to what you do as an operating business that makes you different. How much are you rewarded for innovation?
Weller: We're all challenged every day to say what makes us different, what makes us better. When you don't have a good answer to that question is when you have a real problem.
Sterrett: You mentioned something earlier Ben about valuation. If you look at this on a net asset value basis, most real estate companies are now trading at 20% to 25% above true NAV. That's the premium that's attached to good managements who are out there being innovative and trying to create new revenue streams and be aggressive and consolidate and all of that. And that's perfectly logical, but I think that's a function of the markets having to recognize that REITs are more than just collections of assets. They're real live operating businesses with managements who are out there thinking about ways to make money every day.
Bucksbaum: But don't you think Steve that some of that though is the bull market? Almost all companies are trading at premiums to NAV today, and again, the interesting thing will be when there's a downturn, who stays up and who goes down.
Sterrett: There's not been a great differentiation today because of the market. Remember too, that one of the great characteristics of REITs and real estate is they are defensive in nature, so in a downturn ... our single-largest shareholder right now is a growth fund. Partly they like the characteristics of the industry, but partly I think they were a little skittish about the market and turned to us as a little bit of a hedge. A lot of real estate stocks have Betas of .4 and .5, and as people get nervous about the market, a real estate company stock is a great haven to weather out a rough ride.
Ralston: When you look at the net asset value of REITs, however, many people forget to take into account the value of the management operation. And it's becoming easy to do that by comparing some of these real estate operating companies, the brokerage companies. If you take their multiples and match that to the EBITDA of the operating side of the business it shrinks some of the difference between net asset value and the market capitalization of the company.
NREI: Mike, your company has explored one of the more innovative market niches to come along in a while, the prison and jail business. You gained a lot of attention with your IPO earlier this year. What has the increased attention to new and innovative niches meant to you?
Devlin: In general terms, I don't know where we are in the cycle, but looking at operating companies and looking at the real estate on the books, CCA Management Company had all of this real estate as part of their core strategy for owning prisons and jails as well as managing it to control their destiny. But Wall Street didn't value that at all. That real estate was sitting on their books as a drag. As prisons and jails get larger in size, and the amount of capital that is outlayed is getting larger and larger, it became actually an overhang on CCA's stock. Taking that off, I think what you see is that it was a good idea, and I think in general, you're going to see a lot more of that going on.
Helfand: You're already seeing it. Just down the street from where we sit today is Sara Lee's headquarters. And Sara Lee just came out recently and said they don't need to own the plant to produce the business they're in. That's a mass restructuring of their business to focus on what they do and eventually that real estate will wind up in the hands of someone who will optimize its value. There are great stories about Reckson and other opportunistic real estate companies that have taken properties that the old owner thought was essentially a white elephant and created value out of nothing.
Sterrett: Don't lose sight of the fact that the reason 20% of the regional malls or 10% of the apartments in the U.S. are owned in public hands is that the public companies are the best real estate operators. I think all you're seeing now is that same philosophy applied to different segments, whether it's prisons or whether it's golf courses or any of the other segments. Ultimately people who are focused on operating the real estate in scale day in and day out are going to be the most efficient operators.
Whiting: It goes beyond that. It goes to public company capital efficiencies. The premise for our company is to get the real estate off the balance sheet. That's something that's been a growth business for us dramatically and continues to be so. We structure a purchase lease or do a build-to-suit with one of our public company tenants and generally their stock goes up. They're rewarded for getting the real estate into more efficient hands.
Ralston: The opportunity to outsource real estate for Corporate America on a principal basis has got to be double just taking the investor-owned property, which has been the focus heretofore of the REITs.
NREI: John, you've mentioned that a downturn will come. When?
Bucksbaum: At the investment banking dinner that I attended last night, the head of their national research group, a well-respected guy, said he is bullish on '98 and bullish on '99 and they don't really want to go out further, but he's talking 10% to 12% returns for the overall market. They don't expect the pace to continue as it has for the last few years. Then they took a survey of investment options and the overwhelming majority of the people in the room voted for U.S. stocks. There were a few for the Asian markets. So they're just saying that every indicator is right and they see no reason that this economy shouldn't continue the way it has been.
Weller: If you took that survey a year ago, you'd get exactly the same answer but just ratcheted back because the economy was in reasonably good shape. I recall at a conference involving CEOs ofREITs earlier this year somebody taking a survey and the question might have been if we have a recession when is it going to come? None of us is being paid for our ability to predict the economy or the direction of interest rates necessarily, but I think we all feel relatively optimistic about the economy and the real estate fundamentals in our particular areas of expertise. So you foresee a downturn, but those of us who have the color hair that I have have been through at least two cycles and probably more. We know we're in a cyclical business and something is going to happen.
Ziman: Regionally, in Southern California, we were the last to go into the recession and the last to come out. But if you look at our economy today, it is so segmented but with such strong segments in almost every aspect of Southern California, everything is expanding, everything is growing. I go beyond two years. I'm three and four years out where I see for our region tremendous strength.
Ralston: If in fact we are the best operators of real estate and we own just a fraction of the real estate in this country, why is it we assume that a downturn is going to have such bad connotations for us? I think a downturn could be very good for REITs because we are efficient operators, the companies are more conservatively financed than the private side, and there will be a lot of opportunity to acquire assets at less than replacement cost in distressed situations. We will all get to play Sam Zell for a while.
John Bucksbaum Vice President General Growth Properties
Stephen Sterrett Treasurer Simon DeBartolo Group
Michael Devlin Vice President CCA Prison Realty Trust
Jonathan Weller President & COO Pennsylvania Real Estate Investment Trust
David Helfand President & CEO Manufactured Home Communities
Mark Whiting President & CEO TriNet Corporate Realty Trust
Gary Ralston President Commercial Net Lease Realty Inc.
Richard Ziman Chairman & CEO Arden Realty Inc.


text:
Prologis may own big industrial warehouses, but it will benefit from a recovery in the U.S. housing market, chairman Hamid Moghadam told CNBC's "Street Signs" on Wednesday.
"If you look at our really large buildings, we're 100 percent leased," the industrial REIT executive said. "If you look at our smaller buildings – under 100,000 feet – we're 90 percent leased. That's the sweet spot of the housing market."


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text:
Thanks, Myles, for the very thorough explanation.
Janis McKenzie
Vancouver Public Library
On Wed, 25 Mar 1998, Myles Jaeschke wrote:
> Just a little history on why letterboxing is done for videos. (There does
> seem to be some confusion the terms letterboxed and widescreen.)
> The reasoning for this process is to show the film in its proper aspect
> ratio, the way the director intended it to be. Now before 1953, nearly
> all movies were filmed in the aspect ratio of 1.33 to 1. A film thus
> would be 1.33 times wider than its height. By the way, this aspect ratio
> is exactly what your television set is at home.
> In 1953 a new process called CinemaScope was introduced to the movie
> going public. The first film to use this process was the Robe. Now the
> aspect ratio for a CinemaScope film (today refered to as just scope) is
> 2.35 to 1. Films in scope are 2.35 times wider than their height.
> Today many movies are filmed in scope which is an aspect ratio of 2.35 to
> 1. If they are not in scope then they are filmed in "flat". A "flat"
> films aspect ratio is 1.85 to 1.
> What does this all mean to us and videos?? Well if a film transfered to
> video is not letterboxed, then some of the picture is lost. (Which we
> have already discussed.) How Much?? Look below...
> 2.35 to 1 aspect ratio at movie theater
> 1.33 to 1 aspect ratio shown at home if not letterboxed
> this equals a 43.4% loss in picture. Almost half the picture is cropped
> off!!
> 1.85 to 1 aspect ratio at movie theater
> 1.33 to 1 aspect ratio shown at home if not letterboxed
> equals a 28.1% loss in picture. Over a quarter of the picture.
> This is a significant loss! There have been several articles in various
> magazines that discuss this in more detail. I have seen similar info in a
> magazine called Widescreen Review.
> BTW--other aspect ratios have been used. Ben Hur was a huge 2.75 to 1. A
> non letterboxed version results in a loss of 51.6% of the picture! Wow!
> Leonard Maltin's Movie Guide is an excellent source that tells which
> films were originally shot in "scope" processes. He goes on to explain
> the different types of "scope" camaras in the beginning of the guide.
> Check it out.
> Sorry for being so long winded. If you have any questions about anything
> I've just typed feel free to email me.
> Myles Jaeschke
> Tulsa City County Library Film Librarian and
> Movie Theater Projectionist
Janis McKenzie
Vancouver Public Library
e-mail: email@example.com


text:
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text:
Mileage: 17,453
Trans: Manual
Body: Hatchback Year: 16/16
Colour: Grey
Fuel Type: Diesel
Quote Reference Number: 005-513762
- Insurance Group11E
- Performance (BHP)110
- Number of Seats5
- CO2 (g/km)94
- Road Tax£0
"Just arrived into our group stock we are pleased to offer this one owner Nissan Pulsar 1.5 Diesel Acenta, finished in Metallic Grey a dream to drive, and not to be missed, to book a test drive, or for more details, please give us a call."
Stephen Karoui, Sales Executive (Used)
Nissan Widnes
Key Features
- Climate Control
- Metallic Paint
- Cruise Control
- Alloy Wheels
- Bluetooth
- Stop Start
- CD Player
|Body Glass
|Rear wiper
|Electric front/rear windows
|Automatic rain sensing wipers
|VDC Dynamic Vehicle Control
|Emergency brake assist
|ESP + traction control
|Collision mitigation braking system
|Bluetooth system
|Driver Aids
|Cruise control + speed limiter
|Driver Convenience
|Push button starter
|Driver Information
|Trip computer
|Service interval indicator
|5" Colour screen
|Low fuel level warning light
|Door/boot open warning light
|Exterior temperature gauge
|Driving Mirrors
|Electric door mirrors
|Heated door mirrors
|Body colour door mirrors
|Auto dimming rear view mirror
|6 speakers
|Steering wheel mounted audio controls
|Stereo radio/CD player and MP3 facility
|Aux-in socket
|USB/iPod connection
|Exterior Body Features
|Body colour door handles
|Body colour bumpers
|Chrome window surround
|Roof mouldings for roof rack
|Rear spoiler
|Black honeycomb front grille
|Carbon rear diffuser
|Exterior Lights
|Front fog lights
|Automatic headlights
|Daytime running lights
|Follow me home headlights
|Dual Zone automatic air conditioning
|Rear passenger heating ducts
|Air re-circulation and pollen filter
|Interior Features
|Cloth upholstery
|Rear centre armrest with cupholder
|Leather steering wheel and gear knob
|Tilt/telescopic adjust steering wheel
|Cigarette lighter
|Boot lashing points
|Cooled glovebox
|Lidded front door storage with drinks holder + armrest
|Gear shift indicator
|Interior Lights
|Interior courtesy lights
|Illuminated boot
|Driver/passenger reading lights
|Adjustable dashboard illumination
|Driver and passenger airbags
|Three 3 point rear seatbelts
|Driver and passenger side airbags
|Front and rear curtain airbags
|Tyre pressure monitoring system
|Front seat belt height adjuster
|Front seatbelts+load limiter and pretensioner
|Child locks on rear doors
|Isofix child seat preparation
|60/40 split folding rear seat
|Height adjustable front head restraints
|Reclining front seats
|3 height adjustable rear headrests
|Driver seat height adjust
|Remote central locking
|Intelligent Key
The specification listed for this vehicle was standard when purchased new. The actual specification may vary, for confirmation, please contact our sales department.
Ten Second Review
Nissan re-enters the family hatchback sector with the Pulsar, a somewhat conservative alternative to its extrovert crossovers like the Juke. The engine range is limited at present but looks set to expand with sportier models coming on stream. It's early days yet but the omens appear very promising.
Almost a decade ago, Nissan did something radical, something that's never been done by a mass market car manufacturer before. It abandoned the traditional genres of family hatches and medium range saloons, ditching the Almera and Primera models and concentrated instead on crossovers and SUVs. Cars like the massive-selling Qashqai and the Juke became Nissan's bread and butter and many other manufacturers scrambled to copy Nissan's model of success. You can probably guess what happens next. Just as everyone else jumps ship to flood the market with lookalike crossovers, Nissan has decided to go back to the market it last served with the rather forgettable Almera. This time it revives an old name and trains the Pulsar on the likes of the Ford Focus, the Peugeot 308 and the Volkswagen Golf.
Driving Experience
The Pulsar has been fitted with an all-turbocharged range of engines, as is the current vogue, largely carried over from the Qashqai range. Petrol buyers don't get a lot of choice as its stands with just a downsized 115PS 1.2-litre DIG-T engine available, although dealers will take orders for the 190PS 1.6-litre DIG-T that's proven popular in the Juke. Choose diesel, as most UK buyers in this class do, and you get to select between a 110PS 1.6-litre diesel and, well, that's it. At least Nissan can't stand accused of overcomplicating the process of choosing engines. Where the diesel is solely offered with a six-speed manual transmission, the petrol engine comes with the choice of a manual or a six-speed Xtronic automatic gearbox. Both powerplants are decently muscular, the petrol generating 190Nm of torque while the 1.5-litre dCi common-rail diesel unit generates 260Nm. Contrary to most expectations, the Pulsar doesn't in fact ride on the same chassis as global partner Renault's Megane model. It instead uses Nissan's state of the art CMF2 chassis, a modular system that's very similar in its concept to the ingenious Volkswagen MQB platform that can be customised for various roles by mixing and matching the engine compartment, cockpit, front underbody and rear underbody. Nissan has two engine compartment configurations and three of each of the other components, allowing up to 54 different combinations. The Pulsar uses the low bonnet, low position cockpit and lightweight front and rear underbodies to create an agile-handling basis for a hatchback.
Design and Build
Nissan hasn't done anything too radical to the styling of the Pulsar. It's almost as if they want to re-enter the market quietly, appealing to more conservative buyers who couldn't picture themselves behind the wheel of a Juke or a Qashqai. The Barcelona-built Pulsar features instantly recognisable Nissan hallmarks like the V-motion grille and boomerang-shaped lighting signature with bold and energetic curves on the body side. It features some bold surfacing on the flanks although there are aspects of the rear end that are quite Corolla. The Pulsar's been especially engineered for the European market, being designed at Nissan's studio in London, with key engineering development carried out at Nissan's technical facility in Cranfield, Bedfordshire. The interior features higher quality materials than we've seen on Nissan hatches to date, and there seems to have been a concerted effort to create a common look and feel across typefaces and grains on the dash. It's certainly not what you'd call adventurous though, especially from the company that brought us the Juke cabin. Again, the impression is that everything has been deliberately toned down. Look hard and you'll spot Qashqai items like the steering wheel, clocks, gearlever and central display. Thanks to the longest wheelbase in the class at 2,700mm, the Pulsar offers considerably more rear legroom and shoulder room than its sector rivals. Indeed, with 692mm of rear knee room, the Pulsar is more spacious than many cars from the class above yet at 4,385mm long, it shouldn't prove a problem to park.
Market and Model
The entry level Visia is priced from £15,995 and gets a strong standard equipment count including a 5" colour screen, steering wheel mounted controls, Bluetooth and air conditioning. Step up to the Acenta model and another £1,700 or so nets you added extras like Forward Emergency Braking, automatic lights and wipers and Nissan's ingenious i-Key system. The n-tec versions adds 17" alloys, privacy glass and Nissan's signature LED lights. It also offers a colour reversing camera and NissanConnect 2, an infotainment system offering full smartphone integration, Google Send-to-Car and access to a wide variety of apps. At the top of the range is the Tekna, priced from £20,345, which gets further Nissan Safety Shield Technologies including Forward Emergency Braking, Moving Object Detection, Lane Departure Warning and Blind Spot Warning for the ultimate in passenger protection. Even the entry level model is well kitted out for safety equipment with six airbags, wheel-mounted audio controls, a tyre pressure monitoring system, anti lock brakes backed up by electronic brakeforce distribution, and a stability control system that also include Nissan's Active Trace Control, which keeps you from deviating from your steered path.
Cost of Ownership
We were pretty skeptical when Nissan fitted the Qashqai with a 1.2-litre petrol engine, expecting dismal real world economy figures as the tiny engine laboured under the weight of a hefty crossover but we'd underestimated the torque benefit provided by the turbocharger. With 190Nm of torque on tap, this minuscule engine has more muscle at its elbow than something like a Mazda MX-5 2.0-litre. This means that you won't need to thrash the engine to make respectable progress. The diesel engine generates as little as 95g/km which means economy knocking on for 78mpg. As well as fitting stop/start systems, reducing engine frictional losses, optimising gear ratios and reducing weight where possible, Nissan has also devoted a great deal of attention to the Pulsar's aerodynamics. Residual values are another area where the Pulsar will have to excel, but it's off to a good start including so much equipment for the money which in turn prevents buyers from diluting their residuals by adding expensive options.
Rear wiper, VDC Dynamic Vehicle Control, Bluetooth system, PAS, Push button starter, Trip computer, Electric door mirrors, 6 speakers, Body colour door handles, Front fog lights, Dual Zone automatic air conditioning...
|0 to 60 mph (secs)
|0 to 62 mph (secs)
|Engine Power - BHP
|Engine Power - KW
|Engine Power - PS
|Engine Power - RPM
|Engine Torque - LBS.FT
|Engine Torque - MKG
|Engine Torque - NM
|Engine Torque - RPM
|Top Speed
Go Green
|Emissions - ICE
|CO2 (g/km)
|94 (g/km)
|Noise Level dB(A)
|Standard Euro Emissions
|Fuel Consumption - ICE
|EC Combined (mpg)
|EC Directive 1999/100/EC Applies
|EC Extra Urban (mpg)
|EC Urban (mpg)
Car Finance
Cash Price
The Cash Price is the �On the road price� that the Dealership offers the vehicle at the point of sale. This is derived from any Manufacturer or Dealer savings from the Recommended Retail Price listed by the Manufacturer.
With thousands of models available we can offer you a competitive cash price quotation against any of our vehicles.
Our deals and offers change on a daily basis so please contact us for most up to date cash price.
PCP (Personal Contract Purchase) a simple cost effective way to buy your new or nearly new car.
You choose the car, the deposit, how long you want the contract to run for and the mileage you intend to do. You will then receive a quote for fixed cost motoring for the length of the contract. At the end of the contract you have a choice to either buy the car outright for an agreed lump sum (the GFV or final balloon payment), or hand the vehicle back to the lender.
Hire Purchase allows you to take ownership of a car once all payments are made.
This is one of the most popular methods to buy a new vehicle. You pay an initial deposit, then pay off the balance in monthly payments over an agreed period of time, when the payments are complete the car is yours.
One of the main benefits with Hire Purchase is the ability to buy a high value vehicle on monthly payments.
Hire Purchase allows you to tailor your finance package as deposit, length of time and monthly payments are all flexible.
Personal contract hire is very similar to normal contract hire, but is exclusively for private individuals. This is one of the most common form of leasing.
With a personal contract hire agreement you take control of a car for a contractual period � usually referred to as the �lease period�. You will make fixed monthly payments for the duration of the contract � when the contract expires you will simply return the car and take out a new personal contract hire lease. PCH means you never have to worry about resale values of your car.
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Visit our dedicated website Car Credit Assured to apply or for further information.
Opening times: 8.45am-9pm Monday to Friday, 9am-5pm Saturday & 10am-5pm Sunday
Terms & Conditions: Every effort has been made to ensure the accuracy of the information shown. However, errors do sometimes occur. The specification of each vehicle listed on the Vertu Specialist Cars Newcastle website is provided by "CAP". Please note that the Images of each vehicle are range shots, these can include images which do not reflect the precise details of the vehicle you are looking at and are purely used for illustrative purposes. The inclusion of such data does not imply any endorsement of any of its content nor any representation as to its accuracy.


text:
Warming a Fall Garden Party: 5 Great Fire Pits
To my mind, fall is the perfect time of year to hang out in the garden. A few weekends ago I hosted a kids camping party in the backyard to celebrate a birthday. We pitched tents, strung lights, and rigged up a quick outdoor theater with a laptop, netflix, a digital projector, a sheet and a laundry line -- but the most important part, in the crisp cool air, was the fire pit.
Keeping kids toasty warm (and in ready supply of smores) was key to keeping the party going. At my house, I have a permanent fire-pit/ BBQ, but it isn't mobile and this party called for something that we were able to pick up and move easily into the back yard. Short on time and unwilling to spend much, I shopped extensively and found these picks for contenders.
• The Square Ore Fire Pit is beautiful and I loved its modern lines and rusty finish, but the price (at around $1100) while reflective of its hand crafted quality was more than I was up for.
• I also considered the Big Bowl of Zen by John Unger. While a little less expensive (but not enough for my budget), it still has the rust I craved and the modern lines, but lacked an easy way to move it from place to place. I think this is an excellent choice for a stationary piece.
• Modfire's cool shapes and colors also caught my eye, but they also lacked the mobility feature and it looks remarkably too similar to my permanent firepit. But the modern twist on a classic chiminea shape is so great for a fire feature it was hard to dismiss.
• On the totally 'in my budget' end of the spectrum, I happily came across the Urban fire Hot Spot which for the price of 65 GBP is a great pit in a pinch. But, I was unable to find it in the USA.
• So I finally settled on the Hayneedle rubbed bronze outdoor firepit. It was delivered in two days, was put together in about 10 minutes and it served the purpose perfectly. It's lightweight, but very strudy, and even came with a cover, all for about $150 dollars (if you like this one shop around -- these are readily available at a variety of websites and can vary in price by about $30).
Add a pile of blankets, and the party was perfect.
Images: 1. & 7. Rochelle Greayer; All others as credited above.


text:
|Agnus Statue - Black Aggie
The Black Aggie is a cemetery statue surrounded by myth and legend. When it was placed upon the grave of General Felix Agnus in Druid Ridge Cemetery in Pikesville, Maryland, the statue immediately stirred controversy and superstition among the locals.
Felix Agnus was a Civil War Union Brevet Brigadier General and owner/publisher of the Baltimore American newspaper. Agnus was also one of the original members of the Associated Press. He died on Halloween - October 31st, 1925 and was buried under the petulant gaze of what became known as 'Black Aggie.' But Agnus was not the first to have this image guard his grave.
|Marian 'Clover' Adams
The original sculpture was created by the famous American artist, Augustus St. Gaudens. He was commissioned to create a statue for the grave of Marian 'Clover' Hooper Adams by her husband, Henry. Adams wanted a sculpture that embodied the Buddhist concept of nirvana: "release from the cycles of life and death, desire and pain." It was to memorialize his wife who had committed suicide in 1885. Six years later, in 1891, the statue was placed on her grave in Rock Creek Cemetery in Washington, D.C.
|Adams Memorial - 'Grief'
St. Gaudens sculpted a shrouded figure in bronze, sitting, eyes closed, with its back against a granite wall. He called the work "The Mystery of the Hereafter and the Peace of God that Passeth Understanding." Henry Adams wanted it known as the Adams Memorial. The public simply called it "Grief."
|The Face of 'Grief'
The sculpture has been described as mysterious, beautiful, moody, and haunting. The result of the shadows cast by the changing light during the day make the face inside the cowl appear to take on different expressions.
|American Art Museum
|Replica of Adams Memorial
The Adams Memorial is said to be one of St. Gaudens most original and beautiful works. It was listed on the National Register of Historic Places in 1972. A replica of the Adams Memorial – the life-sized, genderless statue, was cast in 1969 for the Smithsonian American Art Museum. It can be seen on the second floor, in the east wing of the museum.
|Agnus Copy
The Agnus statue was an unauthorized copy of the Adams Memorial, created by sculptor Eduard L.A. Pausch. General Agnus purchased the unauthorized copy of "Grief" in 1906. He had it erected on the family's plot in Druid Ridge Cemetery after his mother's remains were shipped from France and buried there in 1907.
|Grass Would Not Grow...
|Black Aggie
While there is little in the way of legend that surrounds the Adams Memorial, the Agnus sculpture is rife with superstitions. Tales abound of the Black Aggie walking Druid Ridge Cemetery at night; legend has it that grass would not grow in the statue's shadow, and that the menacing eyes glowed red at the stroke of midnight. Many said that the spirit of Marian Adams inhabited the statue.
|Smithsonian Institution
The urban legends grew and visitors flocked to the cemetery, mainly after hours, to see the Black Aggie. Some tried to spend the night sitting on 'her' lap, others were said to have been found dead near the statue. Vandalism grew rampant and the Agnus statue had to be removed from the cemetery. The Agnus family decided to donate it to the Smithsonian Institution in 1967.
|Back of Agnus Pedestal
|Agnus Pedestal Today
Today, the Agnus plot retains the empty granite pedestal. All that remains is a faint outline where the Black Aggie once rested. A bronze sculpture of Felix Agnus's face hangs on the back of the granite stone.
|Dolley Madison House
The Smithsonian placed the Agnus statue in storage where it remained for years before being given to the General Services Administration. In 1987, it was placed on display in the rear courtyard of the Dolley Madison House on Lafayette Square in Washington, D.C.
|Black Aggie Today
Black Aggie remains there today, now looking more serene than menacing as 'she' contemplates life and death from a seat among the trees, with a shrouded point of view.
~ Joy


text:
Browns lose LB Jackson to head injury
Cleveland Browns middle linebacker D'Qwell Jackson left Sunday's
game with the New York Giants with a concussion and did not
Jackson, one of the team's defensive leaders, was hurt in the
second quarter, when the Browns allowed 20 points in a 41-27
The Browns also lost starting cornerback Dimitri Patterson in
the second half to an ankle injury and defensive tackle Ahtyba
Rubin to a lower leg injury.
They were without their best cornerback, Joe Haden, who is
serving the final game of a four-game suspension.
Giants tight end Martellus Bennett returned in the second
quarter after suffering a left knee injury. Bennett was hurt in the
first quarter, but was back on the field midway through the second
period. He had been injured while blocking on a running play.
Giants backup running back Andre Brown did not return from a
head injury after taking a hard hit on a kickoff runback.
Online: http://pro32.ap.org/poll and


text:
The long awaited C Kite from Wainman Hawaii dubbed the "Maniac" has arrived.
We've got all sizes in stock in Benicia of the Black version.
Sizes: 6.5m, 8m, 9.5m, 11.5m and 14m
Give us a shout if you are interested. We can help out $$$ wise through some packaging if you are interested in picking up a quiver with some of our demo's.


text:
Yaaaaaaa.. The Board's back.
I was getting worried there. Wondering if everything would be erased. Then too if it had I could work on being at the top of the posting count.
Sorry to hear about the hit and run, Shortstuff. Did you catch his tag number and report him?


text:
Missoula Police Seek Suspicious Male [AUDIO]
On Monday, Missoula Police say a woman reported that her 6-year-old daughter disclosed contact with a suspicious male on the playground of her school in the 2900 block of Park St.
The disclosure was that the unknown male asked her an inappropriate questions that was related to sex. The child described this person as a tall white male, short black hair & clean shaven. He was said to be wearing a black t-shirt and black jeans.
Anyone with information is asked to contact Crimestoppers at 721-44-44.
Detective Sergeant Travis Welsh


text:
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text:
Pacesetters: IRI's Top-Selling Products of 2005
IRIs top-selling products of 2005 deliver lessons (good and bad) in taste, nutrition, convenience and performance.
They line up at the gate, the shot is fired and they're off … to great anticipation. In racing parlance, there often is one horse that sets the pace, the leader of the pack. But there is always the danger the pacesetter will leave the gate with a bang, but later trip, run into unexpected problems or simply run out of gas. It's uncertainty that makes the race interesting.
|The top Pacesetter in 2005 was Unilever's Slim-Fast Optima diet system (a multi-product line).
It's not so very different when following new consumer packaged goods (CPG) product launches. Information Resources Inc. (IRI), Chicago, market data collector and a leading provider of enterprise market solutions, has tracked and ranked the most successful new brands for 11 years. IRI calls the cream of this crop Pacesetters.
Pacesetters, as IRI defines them, are products launched between February of one year and January of the next that reach two milestones: 30 percent national distribution and retail sales of at least $7.5 million. Once those milestones are reached, IRI begins tracking them in earnest over the next 12 months to determine the most successful new products in their first year of true "national" sales.
IRI tracks first-year retail sales at food stores, drug stores and mass merchandisers (excluding Wal-Mart). Only 20 percent of new products reach $7.5 million or more, and less than 1 percent reach annual sales of $100 million. IRI tracked 136 Pacesetters in 2005 to arrive at this top 10 list and is following 87 Pacesetters-to-be in 2006.
Early each year, IRI's new-product guru Valerie Skala Walker, vice president of analytic product management, identifies the meteoric Pacesetters, analyzes why they have led the pack and speculates on up-and-comers for the following year. She factors in demographics, including ethnic origins and generations, and other market forces. Somewhere in all that data lie some trends.
"The difference between a trend and a fad is how long it lasts," says Walker. "We're talking about the same trends this year as last year, but what's different is how those trends are evolving and playing out in the marketplace. For example, consumers keep raising the bar on the definition of convenience, and manufacturers keep responding."
Diets and new flavors
Obesity was the No. 1 hot button in 2005. So it should be no surprise that leading the food and beverage categories is Unilever USA's Slim-Fast Optima diet system, a line of 15 SKUs that includes smoothies, muffin bars, shakes and snacks, and contains 55 percent less sugar than the Original Slim-Fast products. They provide approximately one-third of many key daily nutrition requirements in a convenient form and are designed to make dieters feel full. The diet comes with personalized planning and advice from a dietitian. The line also includes healthy and nutritious children's snacks.
On that same theme, Kraft Foods apparently was the first food marketer to introduce 100-calorie packs. "Nabisco 100 Calorie Packs provide portion- and calorie-control through single-serve packages filled with lower-fat 'crisps' versions of their popular cookie and cracker brands, such as Oreo and Cheese Nips," says Walker. She says they meet evolving consumer demand for foods that meet higher nutritional standards, taste better than the early versions of "better-for-you" products and are more convenient.
|Coca-Cola's C2 is a product that looked good out of the gate but lost a lot of its fizz along the way.
Because the list is, in some cases, more than a year old, it carries some products that already have been pulled by their manufacturers or at least already have reached their twilight. "While the low-carbohydrate fad is considered by most to be over, some of the mid-year 2004 launches, such as Kraft's Carb Well line, were large enough to make the pacesetter list," Walker points out. Ditto for Coca-Cola's C2 mid-calorie soda.
That brings up another key point: If you don't think advertising is important, think again. Big, marketing-heavy companies such as Kraft and Coca-Cola throw a lot of money at new products in hopes of stretching hits into home runs. Walker in the past has tracked products that appeared to have more "measured media" advertising spending than trackable sales - but that included book rate (not discounted) advertising on the one hand and did not include sales in Wal-Mart and nontraditional channels on the other. It's hard to say if any new product's total marketing budget ever exceeded its sales, she says.
"It's notable that the brands spend a lot on advertising to build awareness and desire to try the product," says Walker. "In fact, this year [the 2004-2005 launches], the average Top 10 brand spent more than $25 million on TV/radio/print advertising in year-one."
In meal solutions, two multi-serving frozen dinner products made the list. "Unilever's Bertolli brand launched Dinner for Two, a line of chef-inspired Italian dinners that go from freezer to skillet to table in 10 minutes," she says. "ConAgra rolled out Banquet Crock Pot Classics, which are convenient in two ways: They take just five minutes in the morning to start the meal, and they are ready to eat in the evening."
Crock-Pot Classics was a great opportunity for Con-Agra because slow-cooking is on the rise; in fact, more than 80 percent of American households own a slow cooker, and 20 percent of families use it on a weekly basis, according to an NFO World Group Appliance Study. That's a lot of slow-cooked meals each year.
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text:
Festo offers handling systems for a huge range of applications in handling and assembly technology. From standard solutions for all common automation technology applications through to customised solutions for your own very specific requirements.
Standard handling systems
Handling systems with serial kinematics with strokes of up to 3,000 mm – pre-assembled and tested
- Single-axis systems (1D)
- Linear gantries (2D)
- Planar surface gantries (2D)
- Three-dimensional gantries (3D)
With standardised energy chain and matching components: motor, gear unit and controller
Configure and order your made-to-measure handling system now in just three steps and benefit from standardised processes and quick delivery times.
Start the Handling Guide Online
Highly dynamic handling systems
Our all-in-one systems for highly dynamic motion and positioning have an incredibly low moving mass. They enable top acceleration rates, a high payload and optimal working space coverage.
Linear gantry EXCT
Optimum dynamic response with up to 90 picks/min
More information on the linear gantry EXCT
Planar surface gantry EXCH
Large working space and high speeds
More information on the planar surface gantry EXCH
Parallel kinematic system EXPT
High-speed handling for free movements in three dimensions
More information on the parallel kinematic system EXPT
Compact handling systems
Our solutions for small installation spaces as, for example, in small parts assembly in the electronics industry or laboratory automation.
Planar surface gantry EXCM
Compact and flat for small working spaces
More information on the planar surface gantry EXCM
Compact handling system YXMx
System kit comprising software, controller and kinematics
A basis for various desktop applications


text:
MBB - three keys
Fresh off the most needed one week break in history, Michigan brings in Illinois on Sunday (before Staee travels to Columbus at 4:00 PM, that day has promise, beers will be consumed). Illinois, coming in with a strangely unipressive winning streak considering one of the wins was Indiana, has brought themselves back to all square in conference play, and Brandon Paul can play some hoops. Should be a good one. Michigan, going from the team that makes Dick Vitale tell other teams to "get a TO" to that team that everybody seems to think somehow just became not good just cause, needs to get down to business and get back to form starting now. College basketball is a game of peaks and valleys with teams, Michigan has peaked at the right time and the wrong time in the last couple of years, 2011 going head to head with Duke was not foreseeable in February, and last year a loss to Ohio (NTO) in the first round seemed inconceivable while delivering a solid beat down to Ohio (YTO) in February as well. So, that epic drubbing to Lil in EL can actually mean very little if the swag returns for this home stretch. I think there are three keys going forward to Michigan getting this show on the road.
1. Jordan Morgan - I was appauled earlier this year at the suggestion that his absence was not significantly impactful. When healthy, J Mo eats glass, runs the floor, and can deliver some highlight real finishes that gets the team fired up. Morgan is an energy player that the rest of the team feeds off. I hope that ankle got some TLC this week, because if I see a pattern in the last three years it is that this team goes when he goes, so, let's go.
2. Run baby Run - The most impressive 10 minute stretch of Michigan's season in my opinion was when they went showtime against WV at Barclays in the first half. Burke in the middle of the floor with options is as pretty as well struck seven iron on a UP course in early September. Board, push, and dish, Stauskas will do the rest.
3. Timmy - to the basket. In another noticeable patters, once a year Hardaway will deliver a Jordan vs. the Blazers 3 point performance that convinces him and Wolverine nation that he is Larry Bird in the 3 point contest. He is not. TH3 is soooooo much more effective when his instinct pushes him to the basket. Hardaway has the athleticism to shoot 10 free throws a game, his desire to settle for the long gun becomes tiresome. Take it the hoop, good things will happen.
Any others that I am missing?
March madness coming soon. Great time of year, (not including the white out conditions outside right now). Go blue.


text:
berko had een nieuw logo ontwerp nodig en lanceerde daarom een wedstrijd op 99designs.
Een winnaar werd gekozen uit92 ontwerpen ingezonden door30 freelance designers.
A new logo for the rebranding of my web solutions studio. Needs a grungy effect to emit a no-nonsense attitude. Font is very important here and should be considered carefully as I expect it to be the prominent design element. Vector formats required from the winner - either PSD or AI.
Berserk Design
- Firstly and most importantly - Please ignore any design/style elements on the existing site. It was rushed and is in no way indicative of our future direction.- Tagline to be includedOnline Solutions Studio
- BackgroundBerserk Design is rebranding and relaunching. We need a dominant, strong logo to sit at the forefront of our new identity. With a view to what the website will eventually envisage, the logo needs to be grungy and strong. I don't want gloss or stripes or any other 2.0 stylings in that mold. Font will be important as I am not necessarily thinking it will include a dominant graphical icon.
I want the logo and (and the coming website) to be gritty and have strength. It needs to look dirty but not feel dirty to the visitor.
- InspirationCheck the following articles for great examples of grunge
- Secrets of Grunge Design
- Grunge Style in Modern Web Design
- A dominant font presence to carry through the entire corporate identity
- Grunge
- Filth
- Grit
- Subtle use of any color
- Needs to look dirty but not feel dirty
- Vector format delivery (AI or PSD)
- Super polished 2.0 effects
- Gloss
- Bright colors
Bekijk hoe een ontwerpwedstrijd werkt of leer meer over logo ontwerpdiensten.


text:
Stocks and Gold Drop
Stocks continued to slide on the back of worries about economic growth in China and a steep tumble in commodity prices. John Shipman reports.
This transcript has been automatically generated and may not be 100% accurate.
... the the ... welcome back to me ... I'm Kelsey Havre of course we are falling see the breaking news today the explosions at the finish line of Boston Marathon also ... had an amazing impact of course not only up there on the scene but ... on the markets as well as effective at treating in the closing moments of the day John Steadman ... is here to tell us about it on thanks for being is to say what a creepy close to the dance will that terrible news out of markets were already on the edge of the Dow Jones Industrial Average and the SB five hundred s that were both getting hit pretty hard fall well before this news came out ... and then ... basically on the selloff today was instigated by weakness in China ... overnight the China's one Q GDP came in lower than expected ... ALM that the ... anxiety and for the commodity markets of flared up so there's a ... strong selloff in commodities particularly gold and gold tumbled ... to its biggest amount in about thirty years that single day ... drop in thirty years ... on so we yet all the sort of or already pent-up jitters going into this ... and that we saw these headlines around three o'clock that to these two explosions been quickly ... you know it's ... Twitter and ... Facebook are seeing these pictures from the scene ... and that enhanced ... with Pearson in the mortal retesting and walked in we saw stocks fall on another hundred points after all this means in Boston ... anyway we talk about the market commodity has especially on and markets have been talk about all these factors that could trigger ... perhaps a every left the market its amended slow growth that we've been seeing about whether its ... actions in Europe banks that kind of think of how much credit instant like this ... I've got the early yet now that we don't know exactly what caused it but how much to this trigger for the divestiture talking about lol ... I've that I don't think that the um what happened in Boston is going to really eat into the market tomorrow ... unless there is this a lot of unknowns in terms of of how it happened or to whom you know what might even behind it ... um the the bigger problem now is that because of that the sharp declines of Esau and in the commodities markets them in stock markets ... start to see other people who borrowed money to buy stocks and gold so basically what these assets on margin ... for now to begin in margin calls and ... so selling that we saw today ... in in those assets aam has a way of picking up a little bit of steam because of people having to raise cash ... and meet a margin call center to looking at the Nasdaq tagged significantly off their ... red for the debt yen as the twisted to clean Cardinal since a lot of some big declines in years of market better than leading of the rally this year particularly small cap stocks ... on transport to believe the Russell two thousand last I checked before the market was down almost four percent ... which is the of repulsive move there ... aam and I think ... we needed to to to listen to step back a little bit and say look softer already all-time highs ... there was this high anticipation the road we were due for a correction though with the seed production ... every time we've seen the market selloff to some degree it's come ... bounce back very quickly ... then so be interesting to see what happens tomorrow How ha lot ... holds a mother ... of distance ... on the side deal with this pullback because everyone that we've seen over the last year to this degree is pre much walked in stocks not that frequent Tidjane thank the much for


text:
The Ronald and Maxine Linde Institute of Economic and Management Sciences is Caltech's hub for interdisciplinary research and education in business and economics. Researchers and students alike strive to understand the fundamental science behind business, economics, finance, and management.
Their goal is to gain deeper insight into the mathematical, social, psychological, and even neurobiological principles behind business and economic interactions and behaviors. In their classroom and research interactions with Linde Institute faculty, students learn the analytical and conceptual tools needed for careers in economics and business as managers and entrepreneurs.


text: I downloaded the app today, purchased the starter pack. Then my game crashed and I reinstalled the app. After starting the game again, my progress has been reset and starter pack gone. I don't really care about the progress as I was fairly early on. Please restore my purchase or refund me the money. There should be an ingame restore purchase option.


text:
Music, Movement, Magic! Explore the Essence of Nia
Music, Movement, Magic! Explore the Essence of Nia
Event Type: Workshop
Start: Saturday, July 20, 2013 at 12:00pm
End: Saturday, July 20, 2013 at 3:00pm
$35 early bird by 7/19
$40 at door
Notes About This Event
Music - Movement - Magic: Move with and learn about the three pillars of the Nia experience! In this playshop, you will dance a diverse soundscape of new music, harmonizing your body with silence and sound as you learn techniques for becoming a more body-centered listener. Expand your movement vocabulary with fun exercises that teach you how to use Nia's 9 Movement Forms to break movement habits. Experience the magic of self-healing and self-expression as you learn creative techniques to enhance any Nia class. This playshop culminates in an accelerated 45-minute Nia Class with Vickie and Allison. Open to EveryBody, from beginners to longstanding Nia Belts.


text:
Cemeteries and Photographs are listed by county
California Tombstone Transcription Project Manager
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or do lookups! If a particular person or cemetery is not listed we have no additional information.
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text:
Foreign Language Education
5426. Special Projects
in Foreign Language Education, Grades K-16 (3-6
For foreign language, TESOL, and bilingual education teachers. Students work on special projects such as drama techniques in language learning, humanistic techniques of teaching foreign and second languages, development of written curricular materials, and the dynamics of the second language class.
5427. Special Projects
in Foreign Language Education, Grades K-16 (3-6
For foreign language, TESOL, and bilingual education teachers. Students work on special projects such as drama techniques in language learning, humanistic techniques of teaching foreign and second languages, development of written curricular materials, and the dynamics of the second language class.
5429. Curriculum and
Methods in Foreign Languages (3
Readings, theory, research, and demonstrations related to current methods and approaches for teaching foreign and second languages. Differences between learning a second language as a child, teenager, and an adult are explored. For foreign language, TESOL, and bilingual education teachers.
5431. Innovations in
Foreign Language Education (3 s.h.)
For foreign language, TESOL, and bilingual teachers. Recent innovations or trends in foreign and second language education. Topics such as whole language, cooperative learning, authentic materials, pair and small group communicative activities in teaching the four skills, dialogue journals, jazz chants, and creating student and teacher-made materials.
5433. Multimedia Approaches
to Teaching Foreign Language (3
Effective uses of various types of media in teaching all aspects of foreign and second language. Creating stimulating materials and demonstrating their use through mini-lessons. For foreign language, TESOL, and bilingual teachers.
5437. Teaching Second
Language Culture (3 s.h.)
Devoted to how to teach culture and what to include. Identifying patterns of the target culture and areas of misunderstanding between cultures. Comparisons made between one's native culture and the target culture. Materials based on mini-dramas, simulations, and nonverbal communication are demonstrated and prepared by students for classroom use. For foreign language, TESOL, and bilingual education teachers.
0610. Applied Language
Study for Language Teachers I (3
Provides an introduction to the study of languages, and examines the linguistic procedures involved in describing the phonological, lexical, grammatical and discourse systems of language. Considers the application of this study to the development of teaching materials and to the methodology of second and foreign language teaching.
0612. Applied Language Study for Language Teachers II (3 s.h.)
0614. Approaches to Teaching
a Second and Foreign Language (3
Examines approaches to the design, implementation and evaluation of second and foreign language curricula, undertaken through a study of 'method' construct, syllabus design, classroom methodology and lesson evaluation. How communication is constructed in a second and foreign language classroom, and how this provides opportunities for learning and language acquisition are also examined.
0616. Teaching Secondary/Foreign Language Skills (3 s.h.)
0618. Second Language
Acquisition (3 s.h.)
Examines theories and research that address how learners acquire a second language (L2) in tutored and untutored settings, and provides a description of the major properties of learner-language and how these change over time. Examine external and internal factors that shape interlanguage development, including input/interaction, first language transfer, cognitive mechanisms of attention and language universals. Particular attention to the effects of formal instruction on interlanguage development.
0620. Contexts for Teaching
and Learning Language (3 s.h.)
Introduction to connections between sociolinguistics and language teaching by exploring the micro and macro levels of context in a variety of sites for learning a second and foreign language (U.S., international, university-based, community-based, public school-based) and with a variety of types of learners (varying age, ethnolinguistic background, educational experiences, socioeconomic class, etc).
0623. Applied Linguistics (3
In-depth survey of the variables affecting language acquisition, language use, and the pedagogical applications of the same. Topics include: nature of language acquisition, effects of motivation, attitude, personality, age, and socio-cultural variables, as well as aspects of language research methodology. Attends to both first and second language acquisition.
0624. Teaching the New
Grammars in the Secondary School (3
Examines traditional, structural, and transformational generative grammar as they apply to curriculum and instruction. Methods used in current approaches to teaching of grammar are examined and appraised.
0642. The Sound System
of American English (3 s.h.)
Examines ways in which linguists talk about sounds and sound systems; some ways of describing and teaching the sounds of American English; controversies about the role of pronunciation in the classroom; and the social meaning of linguistic variation.
0645. Seminar in Second/Foreign
Language Education (3 s.h.)
Current topics and research in teaching Second/Foreign language and literature. Topics to be covered include cognitive, cultural, social, and psychological factors affecting language learning; the role of literature study in the life of the learner, and class-oriented research.
0651. Special Projects
in English Education (3 s.h.)
Current topics of interest in the field of English Education.
0652. Teaching English
to Speakers of Other Languages I (3
Helps students gain a critical perspective as a framework for language teaching and covers four main themes: notions of language and the competent language user; the language learner including models of language acquisition; the situation including factors that affect learning and approaches to teaching that best facilitate language acquisition. This course, Part I of II, concentrates on theoretical background.
0653. Teaching English
to Speakers of Other Languages II (3
A continuation of the basic course in Teaching English as a Second Language. TESOL Methods, Part II focuses on teaching listening, speaking, reading, and writing in an integrated mode designed to promote oral and written communicative competence in English.
Updated 11/2008


text:
The Bells of Christmas
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The Bells of Christmas by Karen Lake Buckwalter. For flute & violin. Handbell Choir Music. Sacred. Sheet music. Published by Beckenhorst Press (BP.HB240A).
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posted by Thom Holwerda on Sun 19th Mar 2006 22:02 UTC
Fedora Core 5, 'Bordeaux', has been released to mirrors. The release notes [.html download] are posted, along with sets of screenshots of the installation procedure and the resulting desktop, by Linux-Noob, so boys and girls, rejoice. The main new features of Fedora Core 5 are the latest GNOME and KDE desktops (2.14 and 3.5 respectively), integration of early work on the Fedora Rendering Project, Mono installed by default, new pakage manager front-ends, better sleep/hibernate support, and much, much more. Update: Screencast and screenshots.


text:
This is Not My Hat
Jon Klassen (of I Want My Hat Back fame) is quickly turning into a master of minimalist, dry humored, beautifully illustrated picture books - think Leo Lionni but with an earthy palette, and a slightly twisted, deadpan sensibility. Although not at all a sequel to his debut, his new book is another exquisitely designed cautionary tale concerning hat-coveting fauna.
A small fish absconds with the tiny blue hat of a very large sleeping fish, and as he makes his getaway explains why he will never be caught: the fish was asleep when I did it; he probably won't wake up for a long time; or notice it's gone, or know it was me; and even if he does guess it was me, he won't know where I'm going; plus, it was too small for him anyway. Of course as all of this is shared with the reader, the pictures reveal exactly the opposite of what the tiny fish believes.
Klassen conveys everything with eyes and tiny bubbles. The eye of the big fish pops open with alarm, it looks up towards its absent hat, squints with displeasure, and begins his pursuit, leaving behind a trail of white bubbles. After the small fish enters his hiding place "where the plants grow big and tall and close together," we see the large fish disappear into the seaweed behind him, and the rest is left to the imagination. Although on the final page the large fish is asleep again, now wearing his tiny blue hat.
I'll say it again, absolutely gorgeous artwork (digitally assembled Chinese ink illustrations) and an utterly original voice in the picture book world. The restrained cleverness of the storytelling left both of my kids completely transfixed. This is Not My Hat hits bookstores October 9th.
• Find it: This is Not My Hat by Jon Klassen (Candlewick, 2012)
(THIS IS NOT MY HAT. Copyright © 2012 by Jon Klassen. Reproduced by permission of the publisher, Candlewick Press, Somerville, MA. Photos: Ben Partridge)
Apartment Therapy Media makes every effort to test and review products fairly and transparently. The views expressed in this review are the personal views of the reviewer and this particular product review was not sponsored or paid for in any way by the manufacturer or an agent working on their behalf. However, the manufacturer did give us the product for testing and review purposes.


text:
Optical Assistant Apprenticeship - OXFORD
- Recruiter
- Specsavers
- Location
- Oxford
- Salary
- Competitive plus benefits
- Posted
- 06 Nov 2017
- Closes
- 04 Dec 2017
- Job Role
- Optical Assistant
- Sector
- Multiple Practice
- Contract Type
- Permanent
- Hours
- Full Time
Optical Assistant Apprenticeship - OXFORD
We've got the vision if you've got the drive!
Become a qualified Optical Assistant in just 12 months – and get paid while you're at it.
At Specsavers, we're always looking to the future. Which is where people like you come in. Our apprenticeship scheme gives you the chance to really set yourself up for a great career in a fantastic company, and earn a full-time wage at the same time.
We say company, but when you join us you'll actually become part of a family. You'll not only spend 12 months in a paid job, but also learn your trade while surrounded by our friendly, passionate and highly experienced team who'll support you every step of the way.
- Earn a salary (c.£131.25.00 per week) whilst learning new skills
- Structured career opportunities for the future
- Get experience of full time work...and enjoy paid holidays!
- Work for a friendly employer who values you
- Receive comprehensive and structured training
- Bag yourself a great qualification
- Learn transferable as well as job-specific skills
And that's just the start. With a highly respected and award-winning business behind you – one that invests in its people – there's nothing to stop you getting on here. Who knows, you might even end up running your own store in years to come...
Day-to-day, you'll help us out by giving customers top-notch advice (as well as a warm welcome to the store), booking in eye tests, pre-screening patients and measuring frames. You'll also make sure everything runs as smoothly as possible by keeping an eye out for any little problems that crop up.
Your on-the-job training will sit alongside structured learning that will lead to a nationally recognised qualification, and at the end of your year as an apprentice, you'll be a fully-fledged Level 2 Optical Assistant. But we're just as happy to learn from you too, so a head full of ideas will come in handy and could make a real difference to how we do things right across the business.
Chances are you've never set foot inside a Specsavers store unless, of course, you've ever needed to call on our excellent service yourself. But we've been on the high street for nearly 30 years, and we're the UK's Most Trusted Optician with one in three people who wear glasses choosing our frames. And even though we have over 2,000 stores around the world and 20,000+ employees, we're still a family-run business, which makes one of our stores a fab place to learn as you earn!
First up, you'll need a grade A-D GCSEs in English and Maths (or equivalent/predicted result).
It's essential you haven't worked in the Optical Sector before, this a new adventure, but you will need the organisation, commitment, motivation and enthusiasm to deliver the great customer service our Specsavers visitors love.
So, ready to grab your future with both hands? Then kick start your career with the Specsavers Apprenticeship program. For more detailed information please use the link below
Before applying, please check that you are able to travel to the store location on a daily basis and if you have any questions please speak to a member of the Recruitment Administration & Support Service Team on 01566 771888.
Platinum Employer
This store is an accredited Platinum Employer, which means you can expect an exceptional employee experience every single day you work here. The Platinum Employer Scheme is part of our drive to become a famous place to work and stores with this accreditation have been verified on five key employer standards – Recruitment, Performance Management and Reward, Talent Management, Learning and Development and Employee Engagement.
This vacancy will close once we have filled all available assessment places. We therefore highly recommend early applications.