text: Welcome to the Raymond Information Center. Here you'll find important information about all of the quality Raymond products. We are proud to furnish this content in our never-yielding effort to develop and deepen lasting relationships with our customers, and in our commitment to providing high quality products and services delivered through a dedicated and reliable organization.


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MADRID (Reuters) - Russian magnate Mikhail Fridman has started talks with other shareholders in Spain's DIA (DIDA.MC) over a possible takeover bid for the discount retailer in which he is already the biggest investor, Expansion reported on Saturday.
Fridman's LetterOne fund could take a 14.5 percent indirect stake in DIA currently held by U.S. bank Goldman Sachs, the paper said, citing anonymous financial sources.
This derivative position is due to expire in October, the paper said, and when that happens the shares could be taken by LetterOne, which has a 25 percent stake.
Under Spanish market rules, a holding of more than 30 percent in any one company obliges an investor to launch a takeover.
It was not immediately possible to reach LetterOne for comment. A DIA spokeswoman declined to comment.
Reporting by Tomas Cobos and Isla Binnie; Editing by Alison Williams

subset: commoncrawl


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I am looking for an apartment / studio / room as soon as possible. Ideally in the Sihui / Shilipu area. Chaoyang Park and Zaoying would be OK too. Up to 4000 yuan and if possible I would like to have a monthly rent. I am a Canadian English teacher working in the area and currently live in an area that is too far from work.
Contact: WeChat RobertWein
Sihui, Shilipu, Qingnianglu
1 post • Page 1 of 1
1 post • Page 1 of 1


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Analysts downplay faulty US downgrade
Analysts downplayed the Standard & Poor's downgrade of U.S. debt over the weekend pointing out markets have been bracing for the action for some time. Meanwhile, the credit rating agency acknowledged its own faulty calculation of future debt levels in the U.S. On Friday, the credit rating agency downgraded U.S. debt to double-A-plus from the gilt-edged rating given to the nation in 1941. Moody's Investors Service has affirmed the triple-A rating it first assigned to the country in 1917 and Fitch Ratings followed suit, though both have a negative outlook on the rating. "While this is a significant announcement for political and historic reasons, the actual impact of a rating change on the U.S. Treasury market should not be significant," Barclays Capital analysts said. S&P stressed much of the cause for the downgrade was indeed political. Analysts at the ratings agency pointed to the chaos circling the usually routine debt ceiling negotiations, however, they said the eventual deal fell short of addressing the debt level crisis of the U.S. When S&P presented its findings to the Treasury Department Friday morning, it originally reported near-term government debt to reach $14.7 trillion or 81% of GDP by 2015. By 2021, S&P calculated the U.S. debt level may reach $22.1 trillion or 93% of GDP. Treasury officials pointed to severe miscalculations, and S&P revised its figures to a debt level of $14.5 trillion or 79% of GDP by 2015 — a $345 billion correction. The overshoot of long-term debt was more severe. S&P revised the debt level through 2021 to $20.1 trillion or 85% of GDP, a $2 trillion miscalculation. "None of these key factors was meaningfully affected by the assumption revisions to the assumed growth of discretionary outlays and thus had no impact on the rating decision," S&P said. The investment bank BlackRock (BLK) said it has been preparing for a downgrade over the past month. A task force at the firm reviewed all aspects of its business related to U.S. Treasurys and related securities to develop "a detailed game plan." "We think it is vital to underscore the fact that the U.S. Treasury sector (and to a slightly lesser extent agency-backed MBS) remains the largest and most liquid fixed-income market in the world with the greatest degree of price transparency and few genuine alternatives," BlackRock said. "While the events that led to the S&P downgrade are certainly of concern, we think the vast majority of investors will continue to utilize the Treasury yield curve as an effective credit risk-free benchmark against which credit spread issues can be judged." Analysts at JPMorgan Chase (JPM) said agency mortgage-backed securities, those guaranteed by Fannie Mae and Freddie Mac, will see little disruption in cashflow as a result of the downgrade. "We believe that agency MBS investors are entitled to the underlying cashflows of the mortgages, and then become general creditors to the GSEs after any shortfall," Chase analysts said. Investment bank Keefe, Bruyette, and Woods said the downgrade would have "limited impact" on real estate investment trusts betting on MBS. Analysts there said the book values of MBS will likely not be impacted, REITs have excess capital to "comfortably cope" with a drop in market value and most of these firms use funding timelines of 30 days or longer, shielding them from near-term volatility. "Most importantly, we believe that this downgrade will make the risk free market a AA market (since corporate and structured AAAs will still trade at a spread to Treasuries and Agencies). As a result, we don't think haircuts or funding costs on Agency MBS will change materially over time," KBW said. The largest impact would appear to those not protected from near-term volatility, both in the MBS market via initial spread widening and in the already skittish stock market. A little more than one hour into trading Monday, the Dow Jones Industrial Average was down more than 350 points. Write to Jon Prior. Follow him on Twitter @JonAPrior.


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Jury, C (2012) Creative Activism As A Resolution Of The Problem Of Political Art As Art. In: 3rd Annual International Conference on Visual and Performing Arts, 4-7 June 2012, Athens, Greece.
Official URL: http://www.atiner.gr/arts.htm
|Item Type:
|Conference or Workshop Item (Paper)
|College of Liberal Arts
|Date Deposited:
|05 Mar 2013 11:01
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On View
Object Histories: From the African Continent to the SCMA Galleries
August 2018–June 2020
Unknown, Holo people, Helmet Mask (Matemu), 20th century, Africa; Democratic Republic of the Congo (Zaire), Sculpture of wood, raffia and beads, Gift of Mr. and Mrs. Irwin Smiley (Cecilia Sahlman, class of 1950).
On View
Plastic Entanglements: Ecology, Aesthetics, Materials
February 8–July 28, 2019
Aurora Robson, Ona, 2014, Plastic debris (PET + HDPE), aluminum rivets, tinted polycrylic and mica powder. Courtesy of the artist.
Museum Events
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at Bedford Terrace
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text:
General Information & Audition Dates
Each participant must be approved by their La Musica Lirica instructor before being permitted to perform in any concerts. Preparation is mandatory, and all participants cast in roles must have their parts memorized before arriving to Italy. Failure to do so will result in removal from the role.
|Measurement Chart
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Since the arrival of Russian billionaire Roman Abramovich in 2003, Chelsea have spent hundreds of millions on players. Some have done well for the club, and others have not.
Here, GiveMeSport looks at five of the worst modern day Blues transfers from the Russian billionaire's tenure.
5. Shaun Wright-Phillips
After Chelsea spent £21million on Manchester City midfielder Shaun Wright-Phillips, much was expected of the Englishman. His performances were limited in his first season at Stamford Bridge and only started 15 league games.
Wright-Phillips left the club in 2008, being sold back to former club Manchester City, only making 81 league appearances in the three years he spent at Stamford Bridge. He currently plays for Queens Park Rangers.
4. Yossi Benayoun
Israeli midfielder Yossi Benayoun was a very highly rated midfielder, due to his performances for Liverpool and West Ham. This led to a £5.5million move from Liverpool.
Related Articles
- Chelsea criticised for stifling academy with Abramovich spending
- Pep Guardiola rejected Chelsea after Roman Abramovich meeting
- Does Chelsea owner Roman Abramovich want more appreciation?
Unfortunately, Benayoun couldn't recapture his form and only played 14 league games. After two poor loan spells to Arsenal and West Ham, Benayoun was released in the summer of 2013. He currently plays for Maccabi Haifa, in Israel.
3. Juan Sebastian Veron
A Premier League flop even before he signed for Chelsea. The Argentine midfielder was signed by Manchester United, but failed to live up to expectations.
Chelsea signed him for £15 million, hoping he could turn his fortunes around. But, Veron did not, and only made 15 appearances for Chelsea. He retired in 2014 after a spell at Argentine club Estudiantes.
2. Fernando Torres
Chelsea's most expensive player ever Fernando Torres is another player that didn't live up to expectations at Stamford Bridge. A £50 million move from Liverpool saw unprecedented pressure heaped on the Spaniard's shoulders.
Since signing in 2011, Torres has only managed 20 league goals in 110 league games for Chelsea. In the summer of 2014, Torres was loaned to Italian side AC Milan.
1. Adrian Mutu
Romanian striker Adrian Mutu made a fabulous start to his Chelsea career by scoring four goals in his opening three games, thus justifying his £15.8million price tag.
However, during the 2004/05 season, Mutu was sacked by Chelsea for a breach of contract, after a failed drugs test.
This led to a £20,000 fine and a seven-month global ban. And in 2008, the FIFA Dispute Resolution Chamber ordered Mutu to pay €17,173,990 in compensation to Chelsea.
What do you think? Many players have been brought to Stamford Bridge during the Roman era, but who do you think is the worst? Comment below.


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Thanks for writing about these issues. You do a good job. You are fair, courteous, professional and Christlike.
Dear Dr Mike, thank you for this book. Just wanted you to know that the impact of your wonderful book have reached persons on the other side of the globe.
Dear Mike, thank you for all your work. It has helped grow in my faith and many things I have learned from your writings and speeches have helped me mentor others.
I love all your books. They have made me stronger in my faith and hope. And now I am ready to share my hope and faith in Jesus Christ in Myanmar. Please remember in your prayers.
Hey, I just wanted to thank Mike Licona for his work. I've been really struggling with doubt over the past couple years, but I've been really encouraged in particular in reading "The Resurrection of Jesus: A New Historiographical Approach" and by the 2010 debate with Richard Carrier


text: Thomas A.Schmitz said this at Wed, 2 Mar 2005 07:18:29 +0100: >However, your post made me think: I know nothing about XSLT, but enough >perl to shoot myself in the foot. I guess if I had a version of >texnansi.enc with the unicode values in addition to the names, that >would be a good starting point. I was thinking of this route: >1. use ftxdumperfuser to produce cmap.xml, >2. use perl to reduce it to two values: glyphName % UNICODE_VALUE >3. use perl to extract the lines corresponding to a given encoding and >put them in the right order. Hold on one minute... we're talking about encodings for alternate glyphs, right? That's orthogonal to what Unicode is about. 'a' and 'Asmall' pretty much take up the same unicode "slot". Only 'a' appears in the .cmap.xml file. However, a perl-based solution would be very handy, especially as new free fonts like FPL-Neu (Palatino clone) include OSF and SC glyphs. <http://home.vr-web.de/was/x/FPL/> The closest I got with perl was some experiments following some rough heuristics appending "small" to glyph names from an afm file. I got a bit discouraged, however, and didn't take it further at the time. So I clapped my hands and giggled girlishly when XeTeX came out and gave me easy access to the particular AAT fonts I was trying to get to work. >Sounds feasible? Do you know where I could get such a unicode-aware >version of texnansi.enc? Now that would be a useful thing, regardless. I don't know, but I'll have a look. I suspect we'll have to create one ourselves. An idle thought (with the corresponding devilishness) occurs to me: all that information is in ConTeXt already. Hmm... What form would be the best? Some simple XML? A perl-friendly list? -- =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Adam T. Lindsay, Computing Dept. atl at comp.lancs.ac.uk Lancaster University, InfoLab21 +44(0)1524/510.514 Lancaster, LA1 4WA, UK Fax:+44(0)1524/510.492 -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-


text: The department continues a long history of studying economic and organizational phenomena from a sociological perspective. Research questions range from family decisions to immigrate to organizational strategies for profitability to national choices of welfare policies. The department sponsors the MIT-Harvard Economic Sociology Seminar and the Migration and Immigrant Incorporation Seminar.


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I was 18 years old when I first felt powerless. I stood, frozen, as a gun was pointed at my head. I was demeaned and called unprintable names. The victim of abuse and sex trafficking, I was repeatedly violated and tortured and then blamed for it all.
On April 15 that powerless feeling returned. That was the day it was reported that 230 Nigerian schoolgirls were kidnapped and forced at gunpoint from the safety of their boarding school, from the safety of their families' protection, and from the sanctity of the right to their own thoughts, dreams and bodies.
It's been a month now, and my feeling of powerlessness continues to free fall. Yet without giving into helpless emotions, I raise a voice for the now voiceless Nigerian schoolgirls.
For me and the girls I work with at Living Water for Girls, a residential and therapeutic program for young American girls victimized by human trafficking and commercial sexual exploitation, we realize that there's a thread that binds the victimized, whether we're in Nigeria or Nebraska. That is why I'm convinced that Boko Haram, its lieutenants and foot soldiers have already begun exacting physical, mental, emotional and sexual abuse on them.
I know from personal experience that their suffering cannot be described or even fully comprehended by most, because there is not a suitable context in which to frame the evil that has taken up residence in their young lives.
These beautiful schoolgirls are not commodities; they are not political pawns; they are not throwaways: They are children. They are our children. We here in America are kin to them—not by lineage but by counting ourselves as members of the human race. Because of this connection, I urge Americans to remember them, and to continue to support the #BringBackOurGirls campaign, even as the news fades from the headlines.
In my work at Living Water for Girls with survivors of human sex trafficking, I talked to girls and young women about the atrocities being carried out on their sisters across the seas. They knew firsthand about these horrors. After all, many of them have been abducted, lured or tricked by traffickers (or pimps as they're known in the streets), and suffered indescribable crimes that rendered them mindless, bodiless and spiritless, too.


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Basic Eyeshadow and Brow Definer Brush by Breena BeautyOctober 14, 2015
Assalamualaikum and Hi!
Tadaaa... Finally, Breena Beauty come up with a new product. Not one, but two makeup brush! Wohoo! If you girls didn't know, our lovely Malaysian beauty blogger, Sabrina Tajudin had started her own business this year and she promotes a good quality makeup brush with a very affordable price for everyone. Her first product is called Face Luxe Brush. It has been my favourite face brush ever since. If you haven't read my review about it, click here.
Okay moving on to her latest products. As you can see, I got two Breena Beauty brush and this time, the name of the brush come out together with a code for easy reference so it is a lot convenient for the users. Oh just in case you're wondering, the box and packaging are slightly the same as the previous face brush. The material and design of the brush are also the same; white handle, rose gold metal for the ferrule, and the bristle is in white and dark brown (almost black) colours.
|B212 Basic Eyeshadow Brush
Yupp I guess you can tell, this brush is for apply an eyeshadow. But you can also use it to apply a concealer, and contouring. Who can say no to multi-tasking brush, right? You might think it is the same as the regular flat eyeshadow brush but no. It is not thin and flat. The bristle is a bit fluffy so you can blend your eyeshadow using the same brush. That is why I used it to contouring my nose because I can apply and blending it right away with this same B212 brush.
|B216 Brow Definer Brush
Yes this one is my favourite! The name itself tells that it is for defining the eyebrow shape. But since it is an angle brush, I can also used it to apply my gel eyeliner. Look at the bristle, it is not too long. And with that perfect length, it actually gives more control and I can draw my brows and eyeliner precisely.You know I'm a huge fan of eyeliner, right? I can never go out without put on my famous wing eyeliner (bhahaha!) so ofcourse I'm happy when I got this B216 brush on my hand. With that brush, just imagine I create a long and fine line wing eyeliner at the outer corner of my eyes. Peghhh I'm a diva. hahaha!
Yes again, just like the previous face brush, Breena Beauty products are cruelty free, and no animal hair used for the brushes. So don't worry, it is suitable for Muslim users.
B212 Basic Eyeshadow Brush (RM25.00)
B216 Brow Definer Brush (RM25.00)
For more info, visit:
Website: http://breenabeauty.com/
Facebook: https://www.facebook.com/breenabeauty
Instagram: breenabeauty
The founder: http://www.sabrinatajudin.com/
|If you buy her product, she will give you this. Sweet :)


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The first thing to know about Trop is that most of us are fiction writers, loyal to our voices before anything, and to putting into the world exactly what we want to show. We exercise this total freedom in our columns, which range from a diary of a land defined by its grocer to a full-blown serial novel, with everything else in between, and no lines drawn between fiction and fact.
To contextualize our expressive approach to content, we balance ourselves with commentary, which happens in the form of reviews, interviews, and essays.
The second thing to know about Trop is that we're spread all over the States. Our diffuse geographical distribution was just a bit of happenstance, but we think it's an asset, so we made depiction of place a priority. We hope that, by collecting the voices of our various pockets, from Chicago to New Orleans to Los Angeles, we'll knit ourselves together and become a greater fabric.
As for our name. Trop is short for the place where the group of us first collaborated—Metropolis Café in Milledgeville, Georgia, where we put on a series of variety shows as The Downtown Metropolis House Players Players Club.


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"The Young Woman of the South." by Mrs. Jean Loughborough Douglass.
Publication: Eagle, Mary Kavanaugh Oldham, ed. The Congress of Women: Held in the Woman's Building, World's Columbian Exposition, Chicago, U. S. A., 1893. Chicago, Ill: Monarch Book Company, 1894. pp. 733-736.
[Page 733]
It is of the young woman of this day that I wish especially to speak, mentioning in their social and business relations and calling attention particularly to their high order of talent.
To the old dominion belongs the honor of having had more famous beauties than any other state. Her daughters have shone socially the world over, and many have married men of title and note abroad. The White Sulphur Springs, the social Mecca of the South, has been the scene of some of the most courtly gatherings of this country. There the beautiful Miss Mattie Ould, of Richmond, was wooed by a score of suitors, and her witty sayings are still remembered. South Carolina, Alabama and Tennessee also gave many famous women to the world. The wife of Commodore Vanderbilt was from the last named state. To her the South is indebted for one of its most valuable institutions of learning–the university that bears his name was erected by her husband as a tribute to this lovely woman. Indeed, the beauty, grace and charm of Southern women has been too often sung, and is too well known to need any comment. Their refinement and culture are most marked and represent the purely American type, having none of that affectation and imitation of foreign customs that some of their Eastern sisters consider necessary for a woman of society to acquire.
While the South has reason to be proud of the achievements of her daughters, it is but just to mention first, their mothers, the noble women who were the heroines of that unfortunate epoch, the Civil War. For that true remark of Matthew Vassar in his first speech to the trustees of Vassar College, is most applicable: "The mothers of a country mold the character of its citizens, determine its institutions, and shape its destiny." To quote from the recent speech of one of the most brilliant young orators of the South: [Page 734]
"Of all the pages of history written of our great fratricidal strife, there are none so fraught with glory and true bravery and high patriotic endeavor as those which tell us of woman's love and woman's self-sacrifice and devotion and woman's tears. Let us not forget the mothers and wives and sisters and daughters whose best days of womanhood were consecrated to a 'Lost Cause.'"
Patient, courageous and strong were these women, and what was left for them to do after the war?
To rise up bravely and found new homes upon the ashes of their former glories, to encourage and inspire their husbands, to teach their young sons and daughters to be courageous, and above all, to keep up a cheerful spirit under the most depressing circumstances with which gentle women have ever had to deal in the history of our country.
Is it possible to think that the heroism and self-sacrifice shown by them at this crucial time in their lives could fail to implant a like nobility of character in their daughters?
It is a true saying "that a fountain never rises higher than its source," and in speaking of the present young women of the South let us first remember the mothers who influenced and molded their characters. It is from these women that a race of daughters has sprung whose necessity for self-reliance and independence has steadied their characters and been the means of developing the deeper and more serious part of their natures.
The desperate feeling which took possession of the Southern people immediately after the war made them realize that a mighty effort was needed to bring about a change of affairs. This feeling, which has made the New South, did much toward making it possible for young women to be self-supporting, and opened avenues of work for them which were formerly pre-empted by men. The Southern legislatures have within recent years allowed young women to be elected to the offices of enrolling and engrossing clerk in the House and Senate, while there are a number of postoffices and public libraries in charge of women.
In many Southern states there are women who own and manage large plantations, and the outdoor life seems peculiarly fitted for them; while in Texas they own and successfully manage large stock farms. One young woman in Arkansas was left a very valuable plantation by her husband. Owing to his long illness, however, it became embarrassed with debt, and upon his death suits were brought against the estate. The widow took entire charge of affairs, and on horseback personally superintended the two thousand acres and five hundred employes; at the same time practically acting as her own financier and bookkeeper. She built gins, attended to the cultivation of the ground, the picking of cotton, etc., and in five years this plucky woman cleared the plantation from all indebtedness and made it one of the most prosperous in the state. Another young woman of whom her state is justly proud is Mrs. Mary B. Murrell, of Little Rock, Ark., who organized a Young Woman's Building Association, and as its secretary carried out a number of series successfully and made it a splendid interest-bearing investment. She has written various articles on finance for New York papers, and was the only woman chosen by Mr. Seymour Dexter, of New York, to read a paper in the General Congress on Building Associations.
A most important business position, and the only one of the kind occupied by a woman, is that held by Mrs. Annie Moore, who is president of the First National Bank of Mount Pleasant, Tex. She is said to be thoroughly familiar with the banking business, and can shave a note or refuse a loan with as much facility as any of her male colleagues.
There are various newspapers in the South edited and managed entirely by women, while the South has given her daughters numerous other positions of trust, which they fill with credit to themselves and honor and dignity to their states.
The World's Fair has been justly called "woman's opportunity," and it has been [Page 735] especially an occasion for Southern women to show their executive ability, courage and persuasive power. There is no more striking instance of this than the erection of the Texas State Building. After six months of hopeless effort the Texas World's Fair Association announced its inability to erect a building, and forfeited all right to the ground set apart for Texas. It was then that Mrs. Benedette B. Tobin, president of the Woman's Board, came forward and obtained a promise that if the women would begin work in ten days after July 19, 1892, the site would be reserved for them. Mrs. Tobin immediately took out a charter for the Women's World's Fair Association of Texas, and assisted by the other members of the board, began the difficult task of raising money, handicapped as she was by the failure of the old organization, political dissensions, and the financial depression that the people of Texas were laboring under. Sufficient money was finally raised, and the beautiful building, which was copied from the Alamo, in San Antonio, was considered by architects and artists one of the most artistic in Jackson Park. Thus it is to the ceaseless labor and indomitable courage of Mrs. Tobin that the people of Texas are indebted for representation at the World's Fair, and well may they be proud to do her honor.
Another Southern state which is largely indebted to the work of her women for a state building is Arkansas. When the legislature failed to make an appropriation, in 1890, for a creditable display of her resources at the World's Fair, Gov. James P. Eagle, who realized what such a failure meant for the state, called a World's Fair convention, and an association was formed to raise funds by popular subscription. Mrs. Eagle then asked that a clause be inserted in the by-laws of this association creating a woman's board. The request was granted, and thus officially recognized the women of the state commenced their valuable work. Mrs. Eagle, as president of this board, did most valuable service in collecting funds and perfecting organization. She was efficiently aided by the other members of the Woman's State Board. Women's Columbian Clubs were formed in all the large cities of the state, and each club made most valuable contributions to the work.
In speaking of Southern writers, the woman who compiled "Living Female Writers of the South" some years ago spoke in her preface of the slight encouragement given the women who had ventured upon a literary career. In the case of Rebecca Harding Davis, Mrs. Terhune (Marion Harland), Margaret J. Preston, Catherine Ann Warfield, Virginia L. Townsend, and many others we might mention, the world of letters has welcomed their ability and genius with generous praise and acclaim. The prolific pen of Augusta J. Evans has, it is true, been severely criticised, but "honor where honor is due" has surely been accorded these early writers.
Today we point with pride to the young women who are undoubtedly set high among young competitors for secure distinction in the noble art of letters. Amèlie Rives, that wild bird of brilliant plumage, who appeared so suddenly among the sober-tinted song birds of the South, has called forth more criticism, favorable and unfavorable, than any young writer has done before or since. Coming of a family of talent, it is not remarkable that her first effort should have shown great strength. She is a realistic writer, and raised, as she was, afield and on horseback in the balmy climate of Virginia, she seems to have absorbed the tropic sun of many summers, and the intensity and fierceness of an ungoverned mind is everywhere discernible. Her writing has been pronounced inaccurate and not painstaking, but there is nothing tedious in it, and her prodigal use of fervid and intense words leaves a highly colored picture in the mind of the reader which is not easily forgotten.
Entirely different are the wonderful pen pictures of Miss Murfree (Charles Egbert Craddock), and her correct representation of the queer people in the mountain districts of Tennessee has been received with enthusiasm by critics. The highest praise a young writer could ask was given Miss Murfree when her delineation of character was compared to that of George Eliot.
Pressing close upon these two daughters of the South, most famous for literary distinction, come Mrs. Burton Harrison, Grace Denio King, Julia Magruder and [Page 736] Minnie McClellan, while Ruth McEnerny Stuart has a wonderful gift for dialect stories. Frances C. Baylor has written some extremely clever satires, and Mary Moore Davis is one of the Southern contributors to "Harpers' Monthly," while a score of others might be named who contribute to the literature of the day. Kentucky has been proud to claim that charming young woman and clever dramatic artist, Mary Anderson Navarro, who, though born in California, spent the early years of her life in Kentucky and there received her education and training. Music owes much also to this state, for Miss Curry Duke, the daughter of Gen. Basil Duke of Louisville, stands today with the foremost violinists of the country. Miss Enid Yandell of Kentucky, whose fine statue of Daniel Boone stands before the Kentucky State Building, has received much favorable criticism from artists.
Another sculptor of note is Vinnie Ream Hoxie of Missouri, whose work in the Woman's Building has been given a place of honor, and whose statues of Farragut and Lincoln have a world-wide reputation. Caroline Shaw Brooks, whose "Sleeping Iolanthe," modeled in butter, was one of the attractions of the Centennial, is a native of Missouri. It has been said that the South has produced no artists worthy of note, but there are at least three whom the world has honored. Mrs. Frederic McMonnies, a native of Missouri, and the wife of the artist who designed the beautiful fountain in the Court of Honor, has enriched the north tympanum of the hall of the Woman's Building by a decorative painting representing the primitive woman, which has received most favorable comment; while Miss Mary Solari, one of the judges of fine arts, and the first woman ever admitted to the Academy of Beaux Arts in Florence, although of Italian parentage, was born in Memphis, Tenn., where she spent the early years of her life. Still another woman is Mrs. Dobé of Helena, Ark., and her work, which had a creditable representation in the Woman's Building, was admitted to the Paris Salon. These three have come prominently into notice in connection with the World's Fair, but there are many other Southern women who have attained distinction in the critical world of art.
In summing up the three classes, can we find a happier combination of them all than that possessed by the young Southern woman who has stood so nobly at her post as President of the Board of Lady Managers for the past three years? Only those who have seen her from day to day realize fully her wonderful capabilities. In situations that would have tried the souls and tempers of the greatest statesmen in the country she has been calm, diplomatic and thoroughly mistress of the situation. It is well known that her magnetism and influence in Washington did more toward obtaining an appropriation from Congress for the Columbian Exposition than all the arguments of the Solons put together. And it is safe to say that the most skillful politician of his day could never have accomplished what Mrs. Palmer has done in matters of tact and diplomacy connected with the management of the Board of Lady Managers. To her the poet's words may well apply:
"The reason firm, the temperate will,
Endurance, foresight, strength and skill."
Standing today in this building, where we breathe the very atmosphere of the concentrated genius of the nineteenth century woman, the air is fairly charged with inspiration. Instead of criticising the Board of Lady Managers, or drawing attention to the petty differences which have arisen in their meetings, as some small-minded people have done, let us rather look at the splendid result of their three years' work. They have held out a hand to woman the world over, aided her development and encouraged her in all branches of art and industry. In every way have they strengthened the weak and encouraged the strong.
All honor to these women who have made it possible for the young women of the North and South to clasp hands, and to stand upon the threshold of a new life! And as they stand, their faces turned toward the future, and their hearts filled with the desire to give the highest and best in them toward the ennobling of their race, let us hope that their lives may be full of earnest purpose and noble endeavor, and that the world may be the better for their having lived in it.
Mrs. Jean Loughborough Douglass was a resident for many years of Little Rock. Ark. She was born in St. Louis, Mo. Her parents were Mr. James M. Loughborough, of Kentucky. and Mrs. Mary Webster Loughborough of New York City. She was educated at Mrs. Cuibbert's Seminary. St. Louis, Mo. She has traveled extensively in the United States and in Mexico. She married Mr. Frank Middleton Douglass, a native of New York City. He is now connected with B. 0. Don & Co., Chicago. Her special literary work has been for newspapers. She is a member of the National Press Association and the Woman's Press League, of Chicago. Her principal literary work is as associate author of "Three Girls in a Flat." Mrs. Douglass is a most popular and gifted woman, possessed of many personal charms. In religious faith she is a Presbyterian. Her postoffice address is No. 369 Chicago Avenue, Chicago, Ill.
This chapter has been put on-line as part of the
BUILD-A-BOOK Initiative at the
Celebration of Women Writers.
Initial text entry and proof-reading of this chapter were the work of volunteer
Mary Hitchcock.


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EUROPEAN MENU_ Lasagna
- Ingredients
- lasagna noodles, cooked as package direction6EA
- meat and tomato sauce*1kg
- grated cheese40g
Category : Lasagna (Sc-5)
Weight Limit : 1.2 kg
Utensil : 20x20 cm baking dish
Food Temp : Room
*Meat and tomato sauce
1 celery stalk, chopped
1 onion, chopped
1 clove garlic, crushed
800g well-ripe tomatoes, chopped
1 sprig thyme
1 bay leaf
300g ground beef
Salt and pepper to taste
1. Cook celery, onions and garlic in a lightly oiled frying pan until soft.
2. Add tomatoes, thyme, bay leaf, salt and pepper. Stir and simmer for 30 minutes.
3. Cook ground meat in another lightly oiled frying pan for 5 minutes while stirring constantly. Pour tomato mixture into meat and cook for 5 minutes.
1. Place 2 lasagna noodles side by side on bottom of a baking dish, covering bottom. Spread 1/3 of meat and tomato sauce on top.
2. Continue with 2 lasagna noodles and another 1/3 of meat and tomato sauce then finish with last 2 lasagna noodles and remaining meat and tomato sauce.
3. Sprinkle grated cheese on top.
4. Place food in the oven. Choose the menu, press start.
Easy to follow the recipe with 4 control pad steps
Step 1 : Press "STOP/CLEAR" button at the bottom of the control pad.
Step 2 : Press "Menu you'd like to have" once [eg: "Continental Menu" once.]
Step 3 : Choose the weight of ingredient "Press MORE four times to enter 0.4 kg."
Step 4 : Press "Start" and Prepare to enjoy the meal!
*The control pad steps work on Grill and Solo models only.


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You are here: Manchester Confidential › Food & Drink › Bars.
MANCHESTER'S cocktail and drinks wizards, educators and innovators The Liquorists, have joined forces with Diageo Reserve Brands to open a new city centre bar on King Street.
"Reserve is about a total experience from retail to glass and we're looking forward to bringing a bit of independent spirit to King Street."
Opening from Thursday 10 October for three months in the former All Saints store at 52 King Street, Reserve by The Liquorists is the first bar to be located on lower King Street and is also thought to be the first venue of its kind, offering a mix of retail on the ground floor and a cocktail bar and events space on the first floor. All handily under one roof.
As well as operating as a bar offering classic signature cocktails and locally brewed craft beers, Tuesday through Saturday will host a multitude of events including live music, interactive drinks master classes and food and drink tastings in the upstairs main bar area.
Meanwhile the ground floor of Reserve by The Liquorists will be a retail space where shoppers can taste and buy spirits including Tanqueray Gin, Ciroc Vodka, Don Julio Tequila, Johnnie Walker Whisky and Zacapa Rum.
To complete the experience, anyone who buys a bottle will be able to pop upstairs to the bar to taste and learn how to make a cocktail by The Liquorists' own master cocktail makers. They'll also receive a recipe card with step by step instructions to help them recreate the magic like a pro.
Soon to openOn Thursday 10 October at 6pm the ground floor tasting and retail area opens to the public. It will then open Tuesday to Saturday from 11am until late. On the same night there'll be an exclusive event in celebration of Vogue Fashion's Night Out. Each week the bar and event space will be open Tuesday to Saturday from 4pm until late, admittance is free and open to the over 18s only.
The event space is also available for hire and for Christmas parties. The Liquorists' interactive masterclasses start at £10, redeemable against a purchase on the ground floor. The bar area remains open to the public while masterclasses and other events take place.
October events:
Thursday 10: Vogue Fashion's Night Out event sponsored by Grand Marnier from 6pm
Friday 11: Johnnie Walker Evening, Masterclass at 6pm and 8pm
Saturday 12: 'Tonight We Tanqueray' Evening. Masterclass at 6pm, live music and gin bar from 8pm
Tuesday 15: Ciroc and Ketel One Vodkas Evening. Masterclass at 6pm and 8pm
Wednesday 16: Tanqueray Evening. Masterclass at 6pm and 8pm
Thursday 17: Johnnie Walker and The Classic Malts Evening. Masterclass at 6pm and 8pm
Friday 18: Don Julio Tequila Evening. Masterclass at 6pm and 8pm
Saturday 19: Ron Zacapa Rum Evening. Masterclass 6pm and 8pm
Tuesday 22: Ketel One Vodka Evening. Masterclass at 6pm and 8pm
Wednesday 23: Don Julio Tequila Evening. Masterclass at 6pm and 8pm
Thursday 24: Chateau Grand Marnier Evening with special guests
Friday 25: Ciroc Vodka Evening. Masterclass 6pm. Music and DJ from 8pm
Saturday 26: 'Tonight with Tanqueray' Evening. Masterclass at 6pm, live music and gin bar from 8pm
Commenting on the announcement, Tom Sneesby, co-founder of The Liquorists said: "Pairing up with a global force like Diageo Reserve Brands to bring a true first to the city is an exciting prospect.
"We've got a huge slate of events planned with some surprises to come towards Christmas. Reserve is about a total experience from retail to glass and we're looking forward to bringing a bit of independent spirit to King Street."
Reserve by The Liquorists is a joint venture with Diageo, with assistance from Sheffield venue The Great Gatsby and Cityco, which acts on behalf of city centre retailers to improve the attractiveness of the city and encourage more spending visitors.
Cllr Pat Karney, lead member for the city centre, said: "King Street has a special place in our city's shopping district and this unique venue and partnership will make it an even more vibrant place to be."
To reserve your place on a masterclass email email@example.com or book online at www.theliquorists.com/Reserve - group bookings are welcome.
Follow @TheLiquorists and @KingStReserve
Like what you see? Enter your email to sign up for our newsletters which are chock-a-block with more great reviews, news, deals and savings.
Can't decide whether Sneesby looks more Phil Collins or Phil Mitchell
Some from THE doomed AVENUE need to move into KING STREET where there seem to be units????
Practically unreadable.
I used to work here too Phil was such a legend, what happened to him??Read more
No Gretch, Cllr Gillard is Withington ward, part of which is famous for student house parties.…Read more
Sure those "skanks" would say Port Street beer house was populated by bearded identikit Chorlton…Read more
Yep the world would be so much better if it was inhabited only by the middle class hey Gareth. No…Read more
© Mark Garner t/a Confidential Direct 2019
Privacy | Careers | Website by: Planet Code | SEO by The eWord


text:
My Account
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About Me:
Kevin is a Retirement and Estate Planning Specialist who provides assistance to people who want to maximize their retirement income while at the same time protecting their assets from market losses, lawsuits, long term care expenses, healthcare costs and taxes at death. He is a Certified Senior Advisor (CSA) and is an active member and officer in his local Rotary Chapter.
Why SOFA?
The Society for Financial Awareness is a nationwide 501(c)(3) non profit public benefit corporation. Our mission is to provide financial education across America, one community at a time. Founded in 1993, we have had the privilege of working with various prominent companies and organizations. Our financial education outreach and years of continued success has provided us name recognition, a reputation of excellence, and most importantly the opportunity to impact lives.
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text:
Busta Rhymes announces a new mixtape, "The Abstract Went On Vacation."
Busta Rhymes already put on a festive concert with some OGs in the game (Diddy, Mary J. Blige, A Tribe Called Quest, Mariah Carey, Method Man, Raekwon and more made an appearance), however he's bringing us more than just a festive concert for the holidays.
Bussa Bus took to his Instagram last night to tease fans about a new project in the works, a follow-up of sorts from his 2013 joint effort with Q-TipThe Abstract & The Dragon. I say a follow-up "of sorts" because this time around, there will be no Q-Tip, hence the title, The Abstract Went On Vacation.
The project is slated to drop on Christmas day. Check out the artwork above, and a few Instagram videos from Busta's studio session below.


text:
Photography: Clary Pfeiffer | Videographers: Lovebird Studios | Wedding Coordinator: Kristin Ashley Events | Venue: Piper Palm House Tower Grove Park | Caterer: Butler's Pantry | Officient James Mooney of the Ethical Society of Saint Louis | Flowers: Bloomin Buckets | Invitations: Hand Illustrated Letterpress by Elysia Mann of All Along Press | Calligraphy: Betsy Dunlap | Signage – Art Direction and Design: Eve Daher Kinsella, Illustration: Edward Kinsella | Wedding Dress: Monique L'Huilleier Heidi Dress from Town & Country Bridal | Veil and Comb: Toni Federici | Bride's Shoes: Marc by Marc Jacobs | Bride's Purse: Miniauditere by Liberty of London for J. Crew | Rings, Other Jewelry: Deborrah Daher, deborrahdaher.com (handmade by bride's mother; 18k yellow gold, champagne diamonds and 18K Red Gold) | Hair: Bethany Laska | Bridesmaids' Dresses: Amsale chiffon gowns in Black, Charcoal, and Graphite | Groom Suit: J. Crew Ludlow Suite | Groom Suit: Cole Haan | Flowergirl Dress: Monsoon Kids
Comments (13)
Loving the bridesmaids dresses!
this is just lovely!!! I love the colors and calligraphy and GORGEOUS photography!
Simply stunning! beautiful couple and details! I also LOVE her dress!
Eve and Edward are such an amazing couple and I loved photographing every moment on their wedding day. Thank you so much for featuring their wedding!!
What a beautiful wedding! Congrats Clary on the feature. :)
The anemones and chocolate cosmos make a stunning combination!
Gorgeous gorgeous gorgeous – beautiful romantic soft images.
What a lovely couple. Love the pictures :)
We are beyond thrilled to be featured on OnceWed, where we found our favorite inspiration during planning time! Thanks Clary for sharing our beautiful imagery. <3
So beautiful Clary! I love the way you photograph!
Gorgeous!! Congrats on the feature, Clary!
The Piper Palm House is a great location. Wonderful team of vendors.


text:
Katie Baer Beach
Katie began her career at Virginia Tech in 2006 in the Department of Athletics working as an athletic trainer for the women's soccer, softball, and lacrosse teams. After serving some amazing student athletes and having some wonderful experiences, including a trip to the Women's College World Series, and the Women's Soccer NCAA Final Four, Katie decided to make a big move across the parking lot to the Smith Career Center in 2014. She served for two years as an advisor for the Health Professions Advising program, working primarily with undergraduate students preparing to pursue graduate education for a health profession. Working with those students was rewarding and fueled Katie's fire to be able to help more students in all aspects of their career journeys. This led to her current role, starting November 2016, as an assistant director, where she serves as the primary liaison to the College of Science, the Graduate School, and the Global Education Office.
Katie says, "I am a perfect example that your career is truly a journey. What you may envision your career to be, and what your career may become, is not always the same thing. Continuing to follow your passions and your interests, as well as gaining education, will put you in the right place."


text:
V. P. Menon
V.P. Menon
Vappala Pangunni Menon
30 September 1893
Ottapalam, Madras Presidency, British Raj (Present day Kerala)
|31 December 1965Bangalore(aged 72),
|Civil servant
Rao Bahadur Vappala Pangunni Menon, CSI, CIE (30 September 1893 – 31 December 1965) was an Indian civil servant who was the Constitutional Adviser[1][2] and Political Reforms Commissioner to the last three Viceroys during British rule in India.
He played a vital role in India's partition and political integration.[3] Later in his life, he became a member of the free-market–oriented Swatantra Party.
Personal life[edit]
The son of a school headmaster in Kerala, Menon worked as a railway stoker, coal miner and Bangalore tobacco company clerk before gaining a junior post in the Indian Civil Service. By working assiduously, Menon rose through the ranks to become the highest serving Indian officer in British India. In 1946, he was appointed Political Reforms Commissioner to the British Viceroy.
In Patrick French's India: A Portrait, a biographical book on the Indian Subcontinent, it is mentioned that VP Menon moved in with his Keralite friends after his wife left him and returned to south India. The two friends, who were a couple, had arranged his marriage and helped raise his two sons – Pangunni Anantan Menon and Pangunni Shankaran Menon. When the husband died, Menon married his widow.[4]
Menon was given the title of Rao Bahadur, appointed a CIE in the 1941 Birthday Honours [5] and a CSI in the 1946 Birthday Honours.[6]
Partition of India[edit]
- See Also: Indian Independence Movement, Partition of India
Menon was the political advisor of the last Viceroy of India, Lord Louis Mountbatten. When the interim Government had collapsed due to the rivalry between the Indian National Congress and the Muslim League, Menon had proposed to Mountbatten, Jawaharlal Nehru and Sardar Vallabhbhai Patel, the Indian leaders, the Muslim League's plan to partition India into two independent nations - India and Pakistan.
Menon's resourcefulness during this period caught the eye of Sardar Patel, who would become the Deputy Prime Minister of India in 1947.
VP Menon was present at the meeting between Lord Mountbatten and Hanwant Singh, Maharaja of Jodhpur. It was at this meeting that Hanwant Singh signed the instrument of accession to India. After he had signed and the Viceroy Mountbatten left, only Menon was in the room with him. The Maharaja took out a .22 calibre pistol and pointed it at Menon and said 'I refuse to take your dictation'. Menon told him that he would be making a very serious mistake by threatening him and would not be able to get the accession abrogated in any case.[7]
Integration of India[edit]
After the independence of India, Menon became the secretary of the Ministry of the States, headed by Sardar Vallabhbhai Patel, with whom he had developed a bond of trust. Patel respected Menon's political genius and work ethic, while Menon obtained the respect for his work that a civil servant needs from his political superior.
Menon worked closely with Patel over the integration of over 565 princely states into the union of India, managing the diplomacy between the States Ministry and the various Indian princes, acting as Patel's envoy and striking deals with reluctant princes and rulers. Patel respected Menon's ingenuity in diplomacy, and often did not question if Menon exceeded any instructions.
Menon also worked with Patel over the military action against the hostile states of Junagadh and Hyderabad, as well as advising Nehru and Patel on relations with Pakistan and the Kashmir conflict. The Cabinet had dispatched Menon to obtain the accession of Kashmir into India in 1947.
At Sardar Patel's behest, Menon subsequently wrote a book "The story of the integration of the Indian states" describing the process they had adopted for each state, based on his first hand experiences of the process.[8][9]
Later years[edit]
The partnership between Patel and Menon was of a rare kind. He was right hand of Sardar Patel and played a major role in integration of Independent India. Almost every Indian politician was allergic to civil servants, owing to their participation in the British Raj. Many Congressmen had demanded stripping the service of its privileges or disbanding it all together, owing to the role of British-era officers in imprisoning Congress leaders. Nehru himself was reluctant to listen to the civil servants who worked under him. He was Governor of Odisha (Orissa then) for a short period in 1951. Thus, after Patel's death in 1950, Menon himself retired from the newly formed Indian Administrative Service. He authored a book on the political integration of India, The Story of the Integration of Indian States and on the partition of India, Transfer of Power. He later joined Swatantra Party
Artistic depictions of V.P.Menon[edit]
In 2013, Adi Irani played V. P. Menon in Pradhanmantri (TV Series) on ABP News.
- Menon, V.P (1961), The story of the integration of the Indian States, Orient Longmans, ISBN ASIN: B0007ILF54
- Menon, V.P (1999), Integration of Indian States, Sangam Books Ltd, ISBN 81-250-1597-3
- Menon, V.P (1999), The Transfer of Power in India, Sangam Books Ltd, ISBN 81-250-1596-5
- V P Menon - The Forgotten Architect of Modern India (Forgotten-raj.org)
See also[edit]
- Sardar Vallabhbhai Patel
- Partition of India, History of India
- Indian Independence Movement
- Patel: A Life by Rajmohan Gandhi
- ^ "V P Menon – The Forgotten Architect of Modern India" (PDF). Forgotten Raj. 13 April 2011. Archived from the original (PDF) on 26 July 2011. Retrieved 13 April 2011.
- ^ "V P Menon – The Forgotten Architect of Modern India". Retrieved 18 September 2014.
- ^ "How Vallabhbhai Patel, V P Menon and Mountbatten unified India".
- ^ India - a portrait by Patrick French - page 13
- ^ London Gazette, 6 June 1941
- ^ London Gazette, 13 June 1946
- ^ India - a portrait by Patrick French (page 10)
- ^ Menon, V.P. (15 September 1955). The story of the integration of the Indian states. Bangalore: Longman Greens and Co.
- ^ Menon, V.P. "Pdf copy of the book "The Story of the Integration of the Indian States"" (PDF). BJP E-Library. Bharatiya Janata Party. Retrieved 22 March 2019.
External links[edit]
|Wikimedia Commons has media related to V. P. Menon.
- W. H. J. Christie, Menon, Vapal Pangunni (1894–1966), rev. S. R. Ashton Oxford Dictionary of National Biography


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What could possibly be sweeter or invoke love more than a box of chocolates? What a wonderful gift Jayashree has given us this week. It would appear that she had great fun with the varieties here, using her embellishment skills to invoke the idea of several different kinds of chocolates. Wouldn't this be a fun coffee table project with each set into their own little paper cups? I'm pretty sure you're favorite craft store or kitchen store candy making section would be a good source for some display items. Enjoy! Marcia
Weaving magic one bead at a time
SweetArt Gifts
How about showing your love for beads and chocolate? That has to be the winning combination! The perfect blend of aroma, taste, texture and looks makes eating chocolate a pleasurable experience that stimulates the 'feel good' centers of the brain. Beaded chocolates don't have the aroma and taste but you could make up for that by nibbling on chocolate while beading these. Beaded with peyote stitch, these fun components are addictive. Use your imagination to embellish with suitable beads from your stash. Connect them to make a sweet bracelet or stitch them on to a purse. Make a pendant or a pair of earrings. Whatever you decide to do, it will be a conversation starter for sure!
Original Design by
Jayashree Paramesh
www.nchantme.com on Etsy
Contact: firstname.lastname@example.com
Jayashree Paramesh
1 tbsp size 10 delica chocolate brown #DBM 0715 A
1 tbsp size 10 delica opaque cream #DBM 0732 B
1 tsp size 11 delica any chocolate brown color C
1 tsp size 11 delica any white chocolate color D
An assortment of other beads for embellishment
Coffee bean Czech glass beads in a couple of colors
Some small citrine nuggets for toffee
Round garnet for blackberry
Red Miyuki drop beads for cherry
Carnelian for orange peel
Piggy bead for sea salt caramel
Size 12 or 13 beading needles
Suitable thread like One G
Thread burner
1. Rows 1 and 2: On 2 ½ ft length of thread, string 24A. Go back through the 1st bead strung in a circle and make a ring. Go through all the beads once more and exit from the 2nd bead strung.
2. Row 3: Pick up 1A, skip one bead on the ring and go through the next bead, thus making the 1st peyote stitch. Pick up another A and peyote stitch. Now, pick up 2A and peyote stitch. This is the 1st herringbone pair. Repeat this pattern and finish the round. Step up.
3. Row 4: Pick up 1B and peyote. Pick up another B and peyote. Peyote again with 1B, this time splitting the pair of As from previous round. In this way, continue and finish the round. Step up.
4. Row 5: Peyote all around with B. Step up.
5. Row 6: Peyote once with 1A. Next, pick up 2A and peyote. Peyote 3 more times with 1A. Next, peyote with 2A. In this way, continue to peyote with 1A 3 times and then with 2A at the corners. Finish the round and step up.
6. Row 7: Peyote with A. At the corners, peyote with 1A, splitting the pairs from previous round as explained in Step 3. Finish the round. Weave through and exit from A in Row 1 as shown.
8. Peyote one stitch with superduo. Add another superduo, skip A at the corner, go through the next A in Row 1. Continue to peyote on all sides. Peyote for a total of 8 stitches. Step up.
9. Make a U turn and go through the top hole of superduo. Go through all the top holes of superduos. Reinforce so that the beads are close together. Square stitch a 4mm garnet or any other berry colored bead.
10. Weave through and exit from Row 7.
11. Peyote with 1C in every stitch and finish the round. Secure threads and trim.
Make variations based on this pattern by using only A or B or both, changing the embellishments according to 'taste' or flavor.
Connect all components using peyote or right angle weave stitch for a sweet bracelet.
Tip: If you would like to use size 11 delicas instead of size 10 delicas, then start with 40 beads. Follow the same steps but for a total of 40 beads at the start. You will need to build at least 12 rows for a good sized chocolate component.
Original Design by
Jayashree Paramesh
For more photos, please visit Nchantme page on facebook. Terms and Agreements: This design is available free for you to enjoy. If you plan to bead and sell copies of this design, it would be cool to mention my name as the designer.
For a printable version click here.
For a printable version click here.


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Pocket bling takes on new meaning with the launch of the world's first jewel-encrusted solid gold Visa Infinite companion card, crafted in collaboration with Kazakhstan's Sberbank.
Only available by invitation to Sberbank's top 100 most valued customers, the card functions as a companion card to the Sberbank standard Visa Infinite card. Designed to be taken out of your billfold or clutch as a literal status symbol, the limited edition Visa Infinite companion card is solid gold with a fine, brushed finish, embellished with mother-of-pearl and precisely 26 diamonds totaling 0.17 carats.
The Sberbank Visa Infinite card will provide cardholders with an on-demand "Sberbank First" personal manager, medical and information services, purchase protection for stolen goods and comprehensive premium health and travel insurance. Other bells and whistles include access to Visa Premium Access privileges, which include unique privileges and benefits, from teeing off at some of the world's top golf courses, luxury vacation getaways to round-the-clock personal concierge service and fast-track immigration at more than 280 airports worldwide.
Manufactured by Rosan Diamond in
While you're at it, do head over to our exciting new partner site Mens-Folio.com to see more cool stuff for men!


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An errant shell sparked a small brushfire during the community fireworks show in Parker last night. Buckskin Fire Department Chief Chris Chambers said no one was hurt during the mishap at the annual display at the Bluewater Resort and Casino.
Chambers said CRIT firefighters who were working the event quickly snuffed out the fire. It was contained at less than one-quarter acre and no one was injured.


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February 02, 2015
The weekly update includes a listing of the new pieces of intellectual capital released the prior week, upcoming events, commentary on market experience over the prior week, and a discussion of economic releases during the upcoming week.
February 04, 2015
Depuis quelques années, les rachats prennent de plus en plus de place dans le paysage des placements en actions. Ce billet porte sur nos interrogations quant à la place qu'ils occupent dans le processus boursier et à leur incidence à long terme.
February 05, 2015
Sound investment governance is the foundation for meeting investment objectives in a sustainable manner and an annual high-level of review of the investment framework is part of good governance. New Year's Eve is behind us, but it is not too late for pension plan investors and trustees to resolve to review key elements of their fund structure.
February 06, 2015
The ECB's just announced trillion euro balance sheet expansion program now leaves little room for doubt; a decade will have elapsed during which central banks will have set asset prices rather than markets. To think otherwise is to be downright old-fashioned and wrong. Not when you are on course to have over $7 trillion of central bank asset purchases (nearing half the GDP of the US) and an equally unprecedented near decade period of zero rates.
February 08, 2015
Depuis les jours les plus sombres de la crise financière, les investisseurs ont connu une longue période de rendements intéressants alors que le soleil a brillé de tous ses feux sur les marchés financiers. Le risque que des secousses surviennent à l'avenir est désormais plus élevé qu'en temps normal, et elles seront probablement plus fréquentes. Il serait judicieux pour les investisseurs de voir comment protéger leurs portefeuilles et d'être en mesure d'agir rapidement lorsque la conjoncture le permet.
February 10, 2015
This blog post addresses the appropriate evaluation framework for clients considering retirement income solutions.
February 12, 2015
Sustainable investing's latest hot topic is Divestment. In this blog post, Aon Hewitt explores divestment from a Canadian perspective.
February 16, 2015
February 18, 2015
New bank regulations implemented in response to the global financial crisis have led to a reduction in bank lending activity that has long-term implications for the way businesses and consumers borrow. That dynamic presents opportunities for alternative credit providers, such as opportunistic credit investment funds, to step in where banks are pulling out
February 27, 2015
This blog post discusses a longer-term global risk of volatile oil prices as well as summarizes a recent note issued by our Global Asset Allocation team on the subject.
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Search Results: "AskDocta"
04:57 Popular
Ask Docta! Medicine in Pidgin English: introAdded 3,400 Views / 1 Likes
Introducing "Ask dokta!""Ask Docta!" is an innovative program by the Cameroonian born General Surgeon, Dr. med. Emmanuel Anyangwe Ngassa. The idea is fairly simple. With "Ask Docta!" Dr. Anyangwe Ngassa introduces a newFeatured


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"These are special VIP badges. They'll get you into places other tourists never see."
"These are special VIP badges. They'll get you into places other tourists never see."
"Miss, what does the `I' stand for?"
"Ooh. How about the `V'?"
"Oh. And Miss, just one more question."
"Ah. What does the `I' stand for again?"
--Faith Crowley and Homer Simpson, "Mr. Lisa Goes to Washington"
It was some point in mid-August when a colleague asked me whether I had an awards vote at the end of the season. I responded in the affirmative, said I would be voting for MVP and lamented that the vote -- my first as a member of the BBWAA -- seemed too straightforward. I had wanted to wade through the difficult decision-making process, complete with complex Excel spreadsheets, compelling arguments from multiple perspectives and the real chance that a vote I cast would actually mean something in the month of November.
My vote got a lot more interesting after that.
Over the past few months, the MVP debate between Miguel Cabrera and Mike Trout (they're listed alphabetically there, as I'm trying not to give anything away just yet...unless you read my earlier story) has been one of the most compelling in years. Having the opportunity to vote for any of these awards is one of the coolest perks in a job replete with cool perks. Having the chance to be one of 28 meaningful voices in this of all debates? The first time I vote? I'm practically giddy.
That's because, in our little corner of the world, the votes really mean something. With the awards handed out in mid-November, they serve as the final resolution to the narrative of a season. They help define what was most important and most memorable about the previous seven months, and they go a long way to determining individual players' legacies. (And as William Goldman once wrote, "The greatest struggle an athlete undergoes is the battle for our memories.")
Thus, it's an absolute honor for me to vote for the American League Most Valuable Player in 2012, and it's a task I can assure you I did not take lightly.
The BBWAA instructs voters for the Most Valuable Player to consider the following:
1.��Actual value of a player to his�team, that is, strength of offense and defense.
2.��Number of games played.
3.��General character, disposition, loyalty and effort.
4.��Former winners are eligible.
5.��Members of the committee may vote for more than one member of a team.
It also acknowledges that "[t]here is no clear-cut definition of what Most Valuable means. It is up to the individual voter to decide who was the Most Valuable Player in each league to his team."
In addition to the criteria handed down from on high, there are some informal ideas many have about who should and should not be MVP, such as:
A pitcher should not be MVP.
The basic argument against pitchers -- and here we're talking more specifically about starting pitchers -- is that they appear in only one-fifth of a team's games. Thus, they can't have the same impact as a position player.
This is a bad argument, because it ignores the obvious fact that a starting pitcher impacts any game he does start way more than a position player. It isn't quite nine times more, since starters don't throw complete games all the time, but it's probably greater than five times more. The best starting pitchers factor in more plate appearances than the best hitters, and are thus every bit as legitimate as candidates as position players.
(Relievers, by the way, are a harder sell because they have such limited roles. It's hard for me to envision naming a reliever on an MVP ballot for that reason.)
The MVP should come from a playoff team.
The more I've thought about this over the last several years, the less I've agreed with it. (Well, the less I've agreed with it as an absolute sentiment; I think that, in an ideal world, the MVP would come from a playoff team.) The standard line is this: "Team X could have finished out of the playoffs just as easily without Player Y." But this concept can be taken to extremes in the other direction. If it doesn't matter how many games a team misses the playoffs by, then it shouldn't matter how many games a team makes it by. And so, the Tigers could have won the AL Central last season without Justin Verlander (albeit in a closer race), the same way the Rangers could have won the West the year before without Josh Hamilton. If the line between making the postseason and missing it is such a priority, then Evan Longoria has as good a case as anyone of taking the award in 2011: Nobody did more to push his team into the playoffs. Dan Johnson could have garnered top-10 consideration because of one particularly significant home run.
Furthermore, divisional imbalance renders this idea more absurd, especially in light of this year's debate. The five best teams don't always make the postseason. If, for instance, the Tigers and Angels switched divisions, Detroit would have been home for October, and Anaheim may very well have made the World Series.
Prior career performance matters.
No, it doesn't. Neither does projecting future career performance. The MVP award is for one year and one year alone, and handing it out as a kind of lifetime achievement award is misguided. One-year wonders are part of the fabric of the game. Otherwise, we would have forgotten all about Zoilo Versalles.
Defense doesn't matter.
Yes, it does. Just because its impact was underestimated or considered unquantifiable in the past doesn't compel us to languish in ignorance.
Now, I'm not saying defense is easy to measure; there are different and evolving ways of looking at it. But there are different and evolving ways of looking at offense, and there are different and evolving ways of looking at pitching. Many of the people who criticize statistics such as ultimate zone rating (UZR) or defensive runs saved (DRS) point to the lack of year-to-year consistency in such figures. When I talked to John Dewan -- the man behind DRS -- in spring training, he pointed out that batting averages vacillate, too, and that most fielders don't get as many day-to-day opportunities to allow such variance to even out within a single season: Good defenders can have bad years in the field, just like good hitters can have bad years at the plate.
So how did I go about this? With the ubiquitous assistance of Baseball-Reference, Fangraphs and Baseball Prospectus, I curated a list of roughly 60 players I thought might be worthy of top-10 MVP consideration. Using Fangraphs' custom leaderboards, and here's where my sentence structure is going to resemble biblical genealogies, I made a table of all the position players, including the following statistics: games played, plate appearances, batting average, batting average on balls in play, home runs, runs batted in, on-base percentage, slugging percentage, on-base-plus-slugging (OPS), park-adjusted OPS (OPS+), weighted on-base average (wOBA), park-adjusted weighted runs created (wRC+), road OPS, ultimate zone rating (UZR), defensive runs saved (DRS), stolen bases, caught stealing and wins above replacement (WAR) from both Fangraphs and Baseball-Reference. (That last stat I had to get from Baseball-Reference, obviously).
The goal in using all those different statistics was to focus on the basics -- the slash-line stats of average, on-base, slugging and OPS alongside homers and RBIs -- while doing my best to contextualize them with things like park and league adjustments. I also wanted to place the proper emphasis on defense and baserunning, in so much as it's possible in 2012.
For pitchers, the list included: games started, innings pitched, innings pitched per start, wins, losses, ERA, park-adjusted ERA (ERA+), fielding-independent pitching (FIP), expected FIP (xFIP), skill-interactive ERA (SIERA), walks and hits per inning pitched (WHIP), strikeouts per nine innings, walks per nine innings, strikeouts per walk, batting average on balls in play, strand rate and the two measures of WAR.
The goals here were similar: Focus on the basics, but be sure to contextualize them as much as possible. For what it's worth, I trust FIP more than xFIP or SIERA as a metric, at least for now.
Once I had the tables in place, I eliminated players who obviously weren't top-10 material, whittling the list down to 23 players, none of whom were Red Sox incidentally (Dustin Pedroia came the closest). I then did a little experiment with blind r�sum�s -- just like NCAA Tournament time! -- to see how I would rank it looking just at the stats and not the names. Although an interesting thought experiment, I didn't base my final vote precisely on those results.
I knew who my top two would be, so I went down from 23 to three, essentially, and then made my decision on number one.
And just as a guiding principle, I defined "most valuable" in what I think are the simplest terms possible, as "the player who adds the most value to his specific team." If you'd like context, here's how I would have voted last year, when I didn't have a vote.
The Toughest Players to Leave Out of the Top 10, with a Brief Explanation: Borderline top-10 candidates such as David Murphy, Yoenis Cespedes and Torii Hunter didn't do enough to overcome a relative lack of plate appearances. (Cespedes, in particular, would likely have made the top 10 had he not missed 33 games.) Billy Butler didn't produce enough offense to compensate for the fact he plays no defense, while Alex Gordon's defense wasn't quite enough to lift him into the top 10.
The two toughest cuts from the list, though, were David Price and Adam Jones. Price had a phenomenal year, as evidenced by his winning the Cy Young Award on Wednesday. While pitching in the AL East, he led the league in wins and earned run average, and he was the ace for one of the best pitching staffs in the league. One of the reasons it's convenient for writers to simply ignore pitchers is that it's very hard to compare their value to those of position players. What prevented Price from making the top 10 for me was that he threw only 211 innings -- eighth in the league.
Jones' breakout season, meanwhile, is mitigated by two factors: A low on-base percentage (his .334 was the worst among position players I considered) and his negative defensive value. Now, here's where it gets tricky in evaluating defense. Jones won the Gold Glove in center field, and anecdotally, he's a smooth outfielder with solid range. The Gold Glove, however, is far from a reliable measure of defense; its legitimacy went out the window the day Rafael Palmeiro won a Gold Glove despite playing all of 28 games at first base, if not earlier. (FYI: MVP votes are cast before we know anything of the Gold Glove winners anyway.)
Both ultimate zone rating and defensive runs saved have Jones well below league-average; the latter lists him as costing Baltimore 16 runs with his glove. Just because the statistical evidence goes against the anecdotal -- I admit I thought Jones was a premier center fielder myself -- doesn't mean the former is bogus. It would be tough to convince a Red Sox beat writer that Mike Napoli hit only .227 this season, as well, based solely on the anecdotal evidence. And yet here we are.
I guess it's about time we got to the actual top 10. (Slash-line statistics here are average/on-base/slugging/OPS. I've included both Fangraphs WAR and Baseball-Reference WAR. Again, Fangraphs custom leaderboards were a great help.)
10. Joe Mauer, Minnesota Twins
.319/.416/.446/.862,141 OPS+, 10 HR, 85 RBI, -0.5 UZR, -7 DRS, 5.0 fWAR, 4.1 bWAR
2012 represented a terrific bounceback year for Mauer, who played in a career-high 147 games while leading the American League in on-base percentage at .416. The knock on Mauer is that he didn't hit for much power with only 10 home runs, and that he played for a team that was largely irrelevant. His OPS+, however, was on par with that of Albert Pujols and bested Adrian Beltre's and Josh Hamilton's. And every team -- every game -- is relevant.
9. Ben Zobrist, Tampa Bay Rays
.270/.377/.471/.848, 138 OPS+, 20 HR, 74 RBI, 6.2 UZR, 5 DRS, 5.9 fWAR, 5.6 bWAR
Here's where context matters: Zobrist is perhaps the best right fielder in baseball, and he's one of its best second basemen, as well. His late-season move to shortstop -- which dragged down his overall defensive numbers -- allowed the Rays to put much-needed offensive pop in the lineup. It was a position switch that was arguably more helpful to Tampa Bay than Miguel Cabrera's move to third was for Detroit.
At the same time, Zobrist provided much of the Rays' offense, contributing a .377 on-base percentage. His offense was certainly hurt by playing at Tropicana Field; 39 of his 66 extra-base hits came on the road, where he posted a .916 OPS -- fourth-best in the league.
8. Edwin Encarnacion, Toronto Blue Jays
.280/.384/.557/.941, 151 OPS+, 42 HR, 110 RBI, -7.5 UZR, -5 DRS, 4.4 fWAR, 4.5 bWAR
Encarnacion, unlike Billy Butler, did do enough offensively to compensate for his poor or non-existent defense. He blossomed into a full-fledged slugger in 2012, smashing 42 home runs and driving in 100 runs -- both good for third in the league. His mediocre batting average was brought down by a low average on balls in play, and more than compensated for by a robust .384 on-base percentage. If Encarnacion were merely mediocre in the field instead of dreadful, he would have finished higher.
7. Adrian Beltre, Texas Rangers
.321/.359/.561/.920, 136 OPS+, 36 HR, 102 RBI, 9.8 UZR, 13 DRS, 6.5 fWAR, 6.6 bWAR
Beltre delivered his third straight terrific season, and he played in 156 games after missing /ome time last season in Texas. He hit .319 with 36 homers, all while playing his characteristically sparkling third base. (He was credited with saving 13 runs at third, fourth-best in the league.) The two things going against Beltre are a relatively low on-base percentage (.359) and that his power was boosted by playing home games in Arlington. As mentioned above, his park-adjusted OPS+ ranked below Mauer's; it was also behind that of Zobrist and well behind Encarnacion's.
6. Prince Fielder, Detroit Tigers
.313/.412/.528/.940, 153 OPS+, 30 HR, 108 RBI, -1.8 UZR, -4 DRS, 4.9 fWAR, 4.5 bWAR
Fielder didn't have the kind of power season many expected in Detroit; his 30 homers were his fewest since 2006, his first full season with the Brewers. He helped make up for it, though, by getting on base at a .412 clip, behind only Mauer in the league. His OPS+ ranked third in the league behind only Mike Trout and Cabrera; his wOBA was tied for third with Encarnacion.
5. Josh Hamilton, Texas Rangers
.285/.354/.577/.931, 138 OPS+, 43 HR, 128 RBI, -9.4 UZR, -9 DRS, 4.4 fWAR, 3.3 bWAR
Hamilton had a strange offensive season, combining long stretches of invincibility (on the morning of May 17, he was hitting .404/.458/.838 with 18 home runs) with similar streaks of futility (he hit .185 for more than a month in the middle of the summer). But by the end of the season, his numbers added up impressively. Only Cabrera hit more home runs, only Cabrera drove in more runs, only Cabrera had a higher slugging percentage. Questions about the impact Rangers Ballpark had on Hamilton's power are mitigated by the fact that he had the AL's second-best OPS on the road, behind only Trout. The knocks on Hamilton have to do with his on-base percentage (.354) and his less-than-stellar defense in the outfield. Regarding the latter, it's important to note that almost all of Hamilton's negative defensive value came in center field instead of left, and that his willingness and ability to play center on a more regular basis allowed Texas to flank him with David Murphy and Nelson Cruz.
4. Justin Verlander, Detroit Tigers
17-8, 2.64 ERA, 158 ERA+, 33 GS, 238 1/3 IP, 2.94 FIP, 1.06 WHIP, 9.03 K/9, 6.8 fWAR, 7.5 bWAR
As you can now tell, I don't necessarily agree with the writers' choice of David Price over Verlander for Cy Young. It was really close, but I think Verlander had the best and most valuable season of any pitcher in the American League.
Verlander came closer than you'd expect to replicating his tremendous 2011. He actually had a higher strikeout rate and lower home run rate, while an increase in opposing batting average was largely attributable to the frequently inept Detroit defense behind him. His FIP was better in 2012 than it was in 2011.
Of course, Verlander isn't competing against his 2011 self. He earned this spot ahead of so many position players (and ahead of fellow pitchers) because of his ability to effectively go deep into games -- he averaged nearly 7 1/3 innings per start -- in front of a shaky bullpen. No pitcher meant more to his team than Justin Verlander.
(Incidentally, I ranked Verlander fourth last year, as well.)
3. Robinson Cano, New York Yankees
.313/.379/.550/.929, 149 OPS+, 33 HR, 94 RBI, 8.2 UZR, 15 DRS, 7.8 fWAR, 8.2 bWAR
Cano's inclusion among the five finalists for the award generated some surprise last week, and I feel fairly confident no other voter placed him higher than I have at third (for obvious reasons). There were few players who excelled in as many facets of the game as Cano in 2012. He hit for average, he got on base, he hit for power and he played outstanding defense at a premium position. I believe he is every bit as good as a second baseman as Beltre is at third.
Of the people who finished behind Cano on this ballot, only Fielder and Encarnacion had a better OPS+. Cano, obviously, brings much more to the table defensively than either of those two.
2. Miguel Cabrera, Detroit Tigers
.330/.393/.606/.999, 166 OPS+, 44 HR, 139 RBI, -9.2 UZR, -4 DRS, 7.1 fWAR, 6.9 bWAR
1. Mike Trout, Los Angeles Angels of Anaheim
.326/.399/.564/.963, 171 OPS+, 30 HR, 83 RBI, 13.3 UZR, 21 DRS, 10.0 fWAR, 10.7 bWAR
This isn't just about WAR. If it were, Cano would have finished above Cabrera, and Alex Gordon would have been in the top 10 easily. Cast it as a proxy war for old versus new if you must, but what this vote is really about is the simple awareness that baseball is a multifaceted game.
First, I'd like to issue a reminder that WAR isn't a wizard-of-Oz statistic; there's substance behind its I-don't-intuitively-understand-what-this-number-means veil. Let's start by looking at Cabrera and Trout exclusively in the batter's box, where we'll find that Cabrera's edge is not as large as you might think.
Yes, Cabrera led the league in average, home runs and RBIs, an achievement which you know hasn't been achieved by a single player since Carl Yastrzemski in 1967. But Trout finished only four points behind in average and posted a better on-base percentage. Cabrera's chief offensive advantage lay in his slugging: He hit 44 home runs to Trout's 30, and he had 377 total bases to Trout's 315. Much of that difference in slugging, however, is moderated by the two parks in which they play. Trout actually had a better OPS+ than Cabrera, and he had the best OPS on the road of any qualifying hitter in the American League. So far, Cabrera has the edge, but not by much.
Now we consider Trout's skills as a baserunner. Remember those 62 extra bases Cabrera had over Trout? Well, they're almost eliminated by Trout's 45 more stolen bases than Cabrera. We can add in the extra bases Trout took, going first-to-third on singles and first-to-home on doubles. Trout took the extra base 65 percent of the time in 2012 compared to Cabrera's 44 percent; at the same time, Cabrera ran into 11 outs on the bases, almost as many as Trout's 12. So when we add in a baserunning component, Trout was, at worst, every bit the offensive player Cabrera was in 2012.
And we haven't even gotten to defense, where Trout ranks as one of the game's best outfielders -- that he didn't win a Gold Glove again casts that award in an unfavorable light -- and Cabrera is a below-average third baseman. I know what the next sentence is, so let me counter it right away: It doesn't really matter that Cabrera moved from first to third. If Cabrera were an average third baseman, Trout's a better defender. If Cabrera were the best corner infielder in baseball, Trout's a better defender.
That Cabrera's Tigers made the playoffs and Trout's Angels didn't has more to do with divisional placement than their own performances. The Angels won one more game than Detroit (89 to 88), and they did it while playing in the tougher AL West. Yes, Cabrera was better offensively than Trout in the final month of the season; part of that can be explained, though, by the level of competition. With mostly divisional games in September, Cabrera feasted on four of the six worst pitching staffs in the AL. Trout, meanwhile faced two of the three best in Oakland and Seattle.
This isn't about desecrating the Triple Crown, which is a remarkable and laudable accomplishment in its own right. But automatically handing the MVP to a player because he won the Triple Crown would be as shortsighted -- probably more shortsighted, actually -- than handing it to whoever posts the best WAR in any single year.
This is about recognizing the uniquely special season Mike Trout had in 2012 -- the kind of comprehensively remarkable season that comes along once every long while.
Miguel Cabrera was the best hitter in the American League in 2012, but there is no doubt in my mind that Mike Trout was the best player -- and the Most Valuable Player.
Twitter: @TBritton_Projo


text:
I'm back from sunny California, and I think I've finally gotten my desk here at work back to some sort of manageable state. It hasn't been an easy task I assure you. Contrary to popular belief, librarians do actually "do stuff" at work and do not sit behind a desk reading all day. Having been away for a week, my desk resembled a leftover prop from the movie Twister (actually the less said about that piece of cinema the better).
I had a grand time while out west, as while I did have meetings and interviews to scurry off to, I also found time for some fun. If you like to read romances I cannot recommend the wonderful New & Recycled Romances in Costa Mesa enough. For traditional regency and Harlequin readers, this store is Mecca. Also notable, the entire shelving unit full of Harlequin Historicals - which happen to be some of my favorite books.
I also somehow managed to survive the traffic, which outside of getting caught in rush hour one day, wasn't too awful. However, if you ever hear a Californian gripe about the gas prices (over $2/gallon while I was there) ask them what kind of car they drive. If it's a jacked-up pick-up truck or SUV - tell them to shut their pie hole. I thought for sure I was going to be staying in Honda Heaven, what with the 3 hour commutes some people are driving, but the highways were filled with Suburban Assault Vehicles. It was a soccer mom nightmare. And Hummers? What has Arnold wrought on that state?
My rant on unnecessarily large automobiles aside, I had a great time. Still, it's not all bad being back home. Now that I'm no longer living out of a suitcase, I can burrow back into my apartment, wallow in my hermit-like tendencies, and pet all the new books I bought.


text:
Final results for the year ended 31 December 2016
13 June 2017
Urals Energy PCL ("Urals Energy" or the "Company")
Final results for the year ended 31 December 2016
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Urals Energy PCL (AIM: UEN), the independent exploration and production company with operations in Russia, is pleased to announce its audited financial results for the year ended 31 December 2016.
These results are available to
view and download in PDF format
Key statistics for the year ended 31st December 2016 compared with the year ended 31 December 2015:
|Total production (barrels)
|Gross revenue before excise and export duties
|US$ 35.3 m
|US$ 31.4 m
|Gross profit after excise, export duties and VAT
|US$ 7.3 m
|US$ 7.1 m
|Operating profit
|US$2.0 m
|US$3.3 m
|Normalized EBITDA (see definition below - not audited)
|US$7.8 m
|US$7.7 m
|Net profit pre-tax and FOREX effects
|US$1.0 m
|US$2.9 m
|Profit (Loss) for the year
|US$8.0 m
|US($4.1) m
Operational highlights
- Total production at Arcticneft reached 289,986 barrels, including four months of Arctic Oil Company Limited ("ANK") production of 39,818 barrels (2015 total production of Arcticneft alone: 253,592 barrels)
- Total production at Petrosakh reached 466,721 barrels (2015: 421,726 barrels)
- Average daily production at Arcticneft (without ANK) for the first five months of 2017 was 738 barrels of oil per day ("BOPD"), compared with an average of 684 BOPD for the twelve months ended 31 December 2016
- Average daily production at ANK for the first five months of 2017 was 312 BOPD
- Average daily production at Petrosakh for the first five months of 2017 is 1,134 BOPD, compared with an average of 1,275 BOPD for the twelve months ended 31 December 2016
- In August 2016 the Company successfully completed the tanker shipment of 225,283 barrels of crude oil from Arcticneft (2015: 217,282 barrels)
- In June 2016 Petrosakh was awarded a 25 year exploration and development licence for the South Dagi oil field on Sakhalin Island, following an auction by the Russian State Authorities, with C1 and C2 Russian State Registered reserves of approximately 17.7 million barrels
- In August 2016, the Company completed the acquisition of ANK. At the time of acquisition ANK was producing 340 barrels/day and had 16 million barrels of C1 and C2 Russian State Registered reserves. The acquisition is expected to bring substantial future production economies for the Group
Financial highlights
- Gross profit increased by 3% to US$7.3 million (2015: US$7.1 million)
- Operating profit of US$2.0 million for the year (2015: US$3.3 million)
- Net profit before income tax of US$5.9 million (2015: loss of US$4.3 million). The fluctuation in net profit before income tax was largely caused by exchange rate movements during both years. Underlying net profit before income tax and FOREX effects of US$1.0 million (2015: profit of US$2.9 million)
- Normalized EBITDA* of US$7.8 million (2015: US$7.7 million), an increase of 1.3% with simultaneous slight decrease of normalized EBITDA margins to 26.8% from 28.5%
- Positive net working capital position on 31 December 2016 of US$5.6 million (2015: US$0.3 million negative)
- The Company finished 2016 with a net debt position of US$5.1 million (2015: US$2.2 million) with Debt/EBITDA ratio of 0.87 as at 31 December 2016 (2015: Debt/EBITDA ratio 0.51)
*Earnings before interest, taxation, depreciation and amortisation (hereafter - "Normalised EBITDA" or "EBITDA") is a non-IFRS measure which the Group uses to assess its performance. It is defined as earnings before interest and taxation.
Post-period end and outlook
- In January 2017 the Company announced the granting of conditional share awards over a total of 13,127,192 new ordinary shares of US$0.0063 each in the capital of the Company, pursuant to the Company's performance share plan
- In February 2017 Petrosakh entered into a new 24 month non-revolving CAPEX credit facility with the Sakhalin branch of PJSC Sberbank of Russia, under which Sberbank will provide the sum of 50 million Russian Roubles (representing approximately US$0.9 million at prevailing exchange rates) to Petrosakh
- In March 2017 Arcticneft entered into a new short-term non-revolving credit facility with Kamchatcomagroprombank. Under the loan the bank will provide a total of 30 million Russian Roubles (representing approximately US$0.5 million at prevailing exchange rates) to Arcticneft. The proceeds of the loan will be used for working capital financing
- In April 2017 the Group completed an internal reorganisation of its subsidiaries, which is intended to streamline the management of the Group and allow the Group to take advantage of modest tax advantages
- In April 2017 the Company spudded two wells in its subsidiaries: its first well on the Ordymskiy block in the Komi Republic, the second one on the main Petrosakh licence area on the Eastern coast of Sakhalin Island
- The planned first shipment of approximately 30,000 tons of oil (237,000 barrels) is scheduled for later in June 2017. The tanker has recently arrived at Kolguev Island
- In April 2017 the Company entered into a secured short-term loan agreement with Petraco under which Petraco advanced US$3.0 million to the Company. The proceeds of the loan will be used for working capital financing
- Extraordinary General Meeting held on 26 May 2017, which resulted in a share consolidation and the approval for a reduction of the Company's share premium account
- In June 2017 the Company signed a rig delivery contract with Jereh Group, a Chinese company. The rig will be deployed to drill our first well at South Dagi
Andrew Shrager, Chairman of Urals, commented:
"In 2016, the Company has maintained cash generation, equivalent to EBITDA, at just under US$8 million, despite continued volatility in crude oil and product prices and in the Russian Rouble/Dollar exchange rate, increased production and excise taxes, and local inflation. This was achieved through significant production and revenue increases, both rising by 12%.
Our strong financial position has allowed us to acquire Arctic Oil and also the licence for South Dagi on Sakhalin Island, and thus continue our strategy of acquisitions to broaden our portfolio of licences for development.
Further to our announcements of 18 January 2017, 21 April 2017 and 26 May 2017, once we have received Court approval in Cyprus for the offset of our Cumulative Profit and Loss deficit by our substantial Share Premium Reserve, we will seek further shareholder approval at an EGM for a dividend payment to shareholders. Subject to these approvals, the Board proposes that the maiden dividend should be approximately 6.2 US cents per share, equivalent to approximately 10% of our 2016 EBITDA, costing US$780,000 (£604,650). This provides shareholders with their first yield since the listing of the Company, but more importantly it is a statement of our intent to follow a policy of rewarding shareholders as we rebuild the Company.
In 2017, we anticipate maintaining production at current levels on Kolgyev Island and Petrosakh through further work overs. We must be prepared for continued volatility in crude oil prices and exchange rates, and already notice that increased excise taxes on certain refined products may be difficult to pass on to customers. This places significant importance on our drilling programme for this year: we have spudded two key wells, one at Petrosakh as a development well after further studies and one at the Ordymskiy block in the Komi Republic as an exploration well; and we plan to drill our first well on the South Dagi licence once the rig we have leased has been mobilised and deployed. We want to complete our development plans for Kolgyev Island, the Komi companies and South Dagi this year, so we are in a good position to increase production progressively over the next few years. The speed of development will depend on market conditions, as always, but I believe we can be confident that Urals Energy has a bright future."
For further information, please contact:
Urals Energy Public Company Limited
Andrew Shrager, Chairman
Leonid Dyachenko, Chief Executive Officer
Sergey Uzornikov, Chief Financial Officer
Tel: +7 495 795 0300, www.uralsenergy.com
Allenby Capital Limited, Nominated Adviser and Broker
Nick Naylor / Alex Brearley
Tel: +44 (0) 20 3328 5656, www.allenbycapital.com
The accounts for the year ended 31 December 2016 will shortly be available from the Company's website www.uralsenergy.com in accordance with AIM Rule 20.