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The big cap tech stocks managed to make a new high on Friday. Despite a 31 point decline in Amazon the rest of the tech sector managed to squeeze out a new high by 6 points. We had a good week despite being stopped out on ADP. The AAPL and NVDA positions overcame a minor decline in INTC and FB.
In theory, investing in LEAPS is a long-term proposition where we hold over earnings in anticipation of a long-term gain. LEAPS should be exited in the normal November rally.
AAPL - Apple Inc - Company Description
Apple reported strong earnings and the stock gapped up $9 and has held most of the gains. The biggest headline for the week was the official word they are going to begin manufacturing iPhones in India in June. That will provide Indians with a phone where the price is not impacted by the giant import tariff and rapidly increase sales in India.
Original Trade Description: January 8th
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications. It offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers. In addition, it offers Apple TV that connects to consumers' TV and enables them to access digital content directly for streaming high definition video, playing music and games, and viewing photos; Apple Watch, a personal electronic device; and iPod, a line of portable digital music and media players. Further, the company sells Apple-branded and third-party Mac-compatible, and iOS-compatible accessories, such as headphones, displays, storage devices, Beats products, and other connectivity and computing products and supplies. Additionally, it offers iCloud, a cloud service; AppleCare that offers support options for its customers; and Apple Pay, a mobile payment service. The company sells and delivers digital content and applications through the iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store, and Apple Music. Company description from FinViz.com.
I am not going to spend a lot of time and space explaining this play because everyone should be aware of their recent problems. iPhone sales slowed and earnings dropped. The company took a hit when they removed the earphone jack from the iPhone 7 and then could not ship the AirPods because of technical problems. The new MacBook Pro was not well received and Consumer Reports failed to give it their seal of approval. That was a first for Apple.
Sales fell -4% to $215.6 billion, well below their target of $223.6 billion. Operating income declined -0.5%. Net sales were down -7.7% and earnings were down -15.7% from 2015 levels.
Recently, Nikkei reported Apple suppliers had been told to reduce production of components for the iPhone 7 by another 10% in Q1. The stock barely wavered on the news. I believe this is due to the rising excitement over the 10th anniversary iPhone due out this fall.
There have been numerous product leaks suggesting they will have three sizes and the largest size will have an OLED screen. The internal feature leaks have been very few but CEO Tim Cook said they were going to introduce some features that you will wonder how you got along without them. Time will tell.
There are also numerous rumors about major upgrades to other devices and some analysts are talking about record revenues in the coming year.
Since this is the tenth anniversary of the iPhone, there is a very good chance it will be chock full of new features.
Apple is also rumored to be building a manufacturing facility in India to be run by one of their prior suppliers. Phone production could begin as soon as April. That would give them a big opportunity to sell new phones into India and that is a huge market opportunity similar to China in 2010.
Because of the calendar, anything we add over the next couple weeks is going to be earnings challenged. Apple has earnings on Jan 24th. Expectations are low but Apple activated more devices during the holiday week than any other vendor so I am not expecting a big miss. It is still a risk but based on the chart, nobody else seems to be worried.
The $120 level is going to be resistance but a breakthrough could trigger significant short covering and price chasing. The last update to price targets was Piper Jaffray to $155 with an overweight weighting.
Update 1/15/17: The iPhone 8 leaks continue and now sites are saying the phone will come with wireless charging. You just place it within 36 inches of the charger and it charges automatically with no connections. There have been more leaks about the OLED screen on the larger model and suggesting there will be no edges on the phone. The screen wraps around the edge. On the downside, it is rumored to be plastic instead of glass. Glass breaks, plastic scratches. The phone will keep working but the screen will accumulate scratches if you are not careful. I thought that was what screen protectors were for? Nomura said based on the leaks and the massive installed base they are predicting sales of 86 million phones in Q4 compared to the peak of 74.7 million in 4Q15.
On a negative note, the 9th U.S. Circuit Court of Appeals reinstated a class action suit claiming Apple is a monopoly because iPhone apps can only be sold through the Apple App Store and Apple receives a 30% commission. Apple claims it just operates a "shopping mall" for apps rather than an actual store.
Position 1/9/17:
Long Jan 2018 $125 call @ $7.85. No initial stop loss until after any earnings volatility.
ADP - Automatic Data Processing - Company Description
The company reported earnings of 87 cents that beat estimates for 81 cents. Revenue of $2.99 billion slightly missed estimates for $3.02 billion. The stock was crushed after they lowered the outlook for new business for 2017 from 4% to 6% growth down to flat for the year. They lowered revenue estimates from growth of 7% to 8% down to 6% growth.
Shares gapped down -$7 on the news to stop us out of the position. Because of the big gap lower, we were killed on the exit. The bid ask spread at the time was 65 cents vs $3.65. The market was crazy as it normally is on a big gap up or down.
ADP had gained significantly since the election and was due for some profit taking. That gap completely erased that need as everyone bailed at the same time. I am recommending we reload this position and try to earn back the $4 we lost on the bad fill.
BUY Jan $100 call, currently $5.90, no initial stop loss.
Original Trade Description: January 16th.
Automatic Data Processing, Inc., together with its subsidiaries, provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled human capital management (HCM) solutions, including payroll services, benefits administration services, talent management, human resources management solutions, time and attendance management solutions, insurance services, retirement services, and tax and compliance solutions. This segment's integrated HCM solutions include RUN Powered by ADP, ADP Workforce Now, ADP Vantage HCM, and ADP GlobalView, which assist employers of all sizes in all stages of the employment cycle from recruitment to retirement; and ADP SmartCompliance and ADP Health Compliance. The PEO Services segment provides a human resources (HR) outsourcing solution through a co-employment model to small and mid-sized businesses. This segment offers ADP TotalSource that provides various HR management services and employee benefits functions, such as HR administration, employee benefits, and employer liability management into a single-source solution. Company description from FinViz.com.
Earnings for the last quarter rose 9.5% to $368.7 million on a 7.5% rise in revenue. For 2017, ADP is guiding for 7% to 8% revenue growth and 15% to 17% earnings growth. Considering their five year average growth is 3.38% for revenue and 5.22% for earnings, that is very strong guidance. At the end of last quarter, ADP had 2.8 billion in cash. In the last quarter cash flow from operations rose 202% to $330 million.
ADP is rapidly expanding their Total Service product where they provide comprehensive outsourcing solutions where workers are co-employed by ADP and its clients. Revenue in that division rose 16% to $3 billion in sales with 12% earnings.
Earnings February 1st.
We are right at the start of the earnings cycle. Our only option is to pick a lesser quality stock that has already reported or pick a good stock that should beat earnings and then hold through the volatility that normally follows.
ADP shares closed 3 cents below a new high on Friday and are poised to start a new leg higher. With the focus on job creation in 2017, ADP should find willing investors on the expectations for future growth.
Position 1/15/17:
Closed 2/1/17: Long Jan 2018 $110 call @ $5.10, exit 65 cents, -4.45 loss.
Reload: BUY Jan $100 call, currently $5.90, no initial stop loss.
APA - Apache Corp - Company Profile
No specific news. Macquarie downgraded APA from neutral to underperform. Shares actually gained on the downgrade day but they fell sharply on Monday and Wednesday with the fluctuations in crude prices.
Original Trade Description: October 2nd
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, the Texas Panhandle, and Gulf Coast areas of the United States, as well as in Western Canada and Gulf of Mexico. The company also operates assets in Egypt and the United Kingdom in the North Sea. As of December 31, 2015, it had total estimated proved reserves of 794 million barrels of crude oil, 198 million barrels of natural gas liquids, and 3.4 trillion cubic feet of natural gas. Apache Corporation was founded in 1954 and is based in Houston, Texas. Company description from FinViz.com.
While that company description was valid six months ago the picture has changed for Apache. In early September Apache announced a monster discovery in Texas that could contain 75 Tcf of "rich" gas and 3 billion barrels of oil. The "Alpine High" as they are calling it, "was" a primarily wet gas play decades ago and companies overlooked it while they were searching for "dry" gas. The Alpine High play is in Reeves County of the Southern Delaware basin. Apache drilled some test wells and silently acquired nearly all the acreage in the entire play for an average cost of $1,300 per acre. This compares to prices recently paid in the Permian of $9,000 to $42,000 an acre. After Apache acquired nearly all the available acreage, they drilled 19 wells to prove out the reserves. Previously oil industry experts thought the area to be unfit for fracking because of an abundance of clay. Therefore, nobody was interested in this remote corner of the Delaware Basin inside the Permian. Apache said the amount of clay was significantly less than previously thought.
Compare the size of the discovery with the proved reserves in the company description. This one discovery is several times the size of the entire company six months ago.
Apache said it was raising capex by $200 million to $2 billion to reflect their anticipated activity in this area. They are going to allocate 25% of their capex budget to this discovery. Well costs are $4-$6 million for 4,100 foot laterals. They are going to start development with a 3-5 rig program and they have an estimated 3,000 drilling locations in the Woodford and Barnett formations alone. The only drawback to the position is the lack of infrastructure, which Apache will have to build out along with its wells. The company will not be able to sell production until the second half of 2017 when they anticipate the first level if infrastructure will be completed. Volume production will not begin until 2018.
The Alpine High has 4,000 to 5,000 feet of stacked pay in up to five distinct formations including the Bone springs, Wolfcamp, Pennsylvanian, Barnett and Woodford.
Apache is going to be getting a lot of attention over the next several months as portfolio managers reevaluate them as a potential investment. By more than tripling the company's reserves in one discovery the company has a lot of profitable work ahead for the next decade.
They were very smart to keep the discovery quiet until they had locked nearly every single acre in the entire discovery for very low prices.
Earnings Feb 2nd.
I have been waiting for the initial stock surge on the news of the discovery to fade to give us a better entry point. However, it never came and now with the OPEC production cut headlines we may never see the stock back below $60. I would rather buy a stock that is rising than wait forever for a dip that never comes.
I am not going to spread this LEAP because shares could run to $100 if the OPEC production cut actually occurs. We can spread out to exit the play on the backend.
Position 10/3/16:
Long 2018 $70 call @ $7.70, no initial stop loss.
You could sell a put to offset the call premium because I seriously doubt this stock is going significantly lower unless oil prices implode.
FB - Facebook - Company Profile
Facebook reported blowout earnings and spiked to $137 in afterhours. However, they repeated the claim they were going to spend more money for the future and that ad sales dollars were declining. They have more ad space to sell with their 1.86 billion active users and to fill up that space the ads are getting cheaper. This is a long story. This is what investors want to see Facebook do. Spend more money creating more content, more opportunities and monetizing spaces that are not yet bringing in the big bucks. Short term investors were disappointed and shares dropped back to $131 on Friday. The resistance high is $133.28 and I have no doubt shares will move over that level as the year progresses. Facebook is now a giant and it takes longer for changes to be felt. Once enacted the benefits can be enormous.
Original Trade Description: November 13th.
Facebook disappointed on guidance when they reported earnings for Q3. Earnings were $1.09 compared to estimates for 92 cents. Revenue was $7.01 billion compared to $6.92 billion. That was a 56% increase from the year ago quarter. Monthly active users rose to 1.79 billion and beat expectations for 1.76 billion. That was a gain of 80 million users. Daily active users rose to 1.18 billion and beat estimates for 1.16 billion. More than 1 billion daily users are mobile users. That accounted for $5.7 billion in revenue or 84% of its total ad revenue compared to 78% in the year ago period.
The problem came from the guidance. The CFO said revenue growth rates will decline in coming quarters. The reason is the number of ads already running called the "ad load." Facebook has run out of places to display ads because they are all booked. The company also said 2017 would be an "aggressive investment year" as they grow capex "substantially" and ramp up hiring.
Facebook still makes a lot of money and they still have a lot of assets to monetize. They have barely begun to monetize Instagram and WhatsApp. Facebook bought Instagram for $1 billion four years ago and Forbes said it was worth $25 to $50 billion today. Instagram has added 100 million users in the first nine months of 2016 to reach 400 million. They are targeting one billion. Instagram revenue is expected to triple in 2016 to $1.5 billion and then triple again to $5 billion by 2018 according to eMarketer.
Instagram only has 350 employees compared to the 14,500 Facebook employees. Instagram users average 21 minutes a day and upload more than 95 million photos and videos. There is gold in those posts and Facebook is working on finding more ways to monetize the app.
Facebook may expect revenue "growth" to slow but that is different from "decline." It is still a great business and there will be another explosion of growth as Instagram and WhatsApp hit their prime.
Shares fell to the 200-day average on Thursday and that has been support since mid 2013. I believe buyers will take advantage of the sharp decline in order to establish new positions. Facebook will rebound and it will set new highs. Those highs may not be in the near future but that does not mean we will not see a short term rebound.
Earnings Feb 1st.
The drop in price after earnings plus the decline in the Nasdaq big caps last week helped to reduce the premiums but they are still expensive and require a spread position to receive maximum benefit at the lowest cost.
Position 11/14/16:
Long Jan 2018 $125 call @ $13.10, no initial stop loss.
Short Jan 2018 $150 call @ $5.00, no initial stop loss.
Net debit $8.10
HAIN - Hain Celestial - Company Description
Absolutely no news. Shares are slowly recovering from the prior week's dip. Zacks is reporting an earnings date of Monday. Nobody else is confirming that date but I would be thrilled.
Original Trade Description: January 22nd.
The Hain Celestial Group, Inc. manufactures, markets, distributes, and sells organic and natural products in the United States, the United Kingdom, Canada, and Europe. Its grocery products include infant formula; infant, toddler, and kids foods; diapers and wipes; rice and grain-based products; flour and baking mixes; breads, hot and cold cereals, pasta, condiments, cooking and culinary oils, granolas, granola bars, and cereal bars; canned, chilled fresh, aseptic, and instant soups; Greek-style yogurt; chilies and packaged grains; and chocolates and nut butters, as well as plant-based beverages and frozen desserts, such as soy, rice, almond, and coconut. The company's grocery products also comprise juices, hot-eating, chilled and frozen desserts, cookies, crackers, gluten-free frozen entrees and bars, frozen pastas and ethnic meals, frozen fruits and vegetables, cut fresh fruits, refrigerated and frozen soy protein meat-alternative products, tofu, seitan and tempeh products, jams, fruit spreads and jelly, honey, marmalade, and other food products. In addition, it provides snack products, such as potato, root vegetable, and other vegetable chips, as well as straws, tortilla chips, whole grain chips, pita chips, puffs, and popcorn; specialty teas, including herbal, green, black, wellness, rooibos, and chai tea lattes; ready-to-drink beverages comprising organic kombucha and chai tea lattes; personal care products consisting of skin, hair and oral care, deodorants, baby care items, acne treatment, body washes, and sunscreens; and poultry and protein products, such as turkey and chicken products. The company sells its products through specialty and natural food distributors, supermarkets, natural food stores, mass-market and e-commerce retailers, food service channels and club, and drug and convenience stores in approximately 70 countries worldwide. Company description from FinViz.com.
Hain had some problems back in August and they said they discovered an accounting problem that could force them to restate earnings. Shares fell from $55 to $35. In November they announced they found no wrongdoing and shares rebounded to $39 ahead of what investors thought would be some positive earnings restatements. We are now in late January and still no earnings. They have a variance from the Nasdaq and creditors that allows them until February to file their 10K and get current with their earnings. There has been a slight upward bias in the stock as we approach that February event. There is no confirmed date for the release.
Since there was no wrongdoing, the earnings restatement should reflect the movement of revenue recognition from one quarter into another. If I recall there was some problem with consideration given to some wholesalers when they received the product on what could be called a consignment basis. In other words they shipped product to a wholesaler and that wholesaler did not have to pay for it until it was sold. Hain has had two quarters to work through those mechanics and when they finally report earnings it should be several quarters at one.
There is nothing wrong with the Hain business. They continue to introduce new products and expand their distribution in more than 70 countries. I could be wrong but I do not foresee a major change in the business or in the financials.
This accounting delay has removed all the premium from the LEAPS. The Jan $45 call is only $3.30. If Hain reports anything close to their prior earnings the stock could be back over $50 very quickly because of the pent up demand.
I looked at buying an insurance put for $1.25 but the LEAP is so cheap and we have 11 months for a recovery that I decided against it.
Position 1/23/17:
Long Jan $45 call @ $3.22, no initial stop loss.
HON - Honeywell - Company Profile
No specific news. Shares closed at a new high on Friday as they move out of the one month of congestion.
Original Trade Description: October 23rd.
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment offers aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers and operators, airlines, military services, and defense and space contractors, as well as spare parts, and repair and maintenance services for the aftermarket. This segment also provides auxiliary power units; propulsion engines; environmental control, connectivity, electric power, flight safety, communication, navigation, radar, surveillance, and thermal systems; engine controls; aircraft lighting products, as well as wheels and brakes; advanced systems and instruments; and turbochargers, as well as management, technical, logistics, repair, and overhaul services to original equipment manufacturers in the air transport, regional, business, and general aviation aircraft; and automotive and truck manufacturers. The company's Home and Building Technologies segment offers environmental and energy, security and fire, and building solutions. Its Safety and Productivity Solutions segment provides sensing and productivity Solutions, and industrial safety products. Its Performance Materials and Technologies segment provides catalysts and adsorbents; equipment and consulting services for the petroleum refining, gas processing, petrochemical, and other industries; and automation control, instrumentation, software, and services for the oil and gas, refining, pulp and paper, industrial power generation, chemicals and petrochemicals, biofuels, life sciences, metals, minerals, and mining industries. It also offers fluorocarbons, hydrofluoroolefins, caprolactam, resins, ammonium sulfate fertilizers, phenol, specialty films, waxes, additives, fibers, research chemicals and intermediates, and electronic materials and chemicals. Company description from FinViz.com.
On Oct 7th, Honeywell shares collapsed from $116 to $105 after the CEO warned that profits would be below guidance and they lowered guidance for the rest of 2016. The CFO said on the conference call, "In the third quarter, we continued to see slow growth across much of our portfolio." Declines in the emerging markets and the oil industry have crimped demand for business aircraft and helicopters, hurting Honeywell's unit that sells jet engines, cockpit controls and aerospace parts.
The company preannounced earnings of $1.60 compared to prior guidance of $1.67-$1.72. For the full year they lowered their forecast by 6 cents to $6.64 per share. The company is in the middle of a reorganization process that will increase profits in the future.
After the stock was crushed by the warning, the CEO appeared on CNBC and said the warning was not received in the way he thought it would be. "I gave credit for people understanding what our long-term profile was. I was wrong. I could have done a significantly better job of communicating this story. We tried to do it in the context of 2017 is going to be good, but it seemed to get totally lost" in the headlines.
The CEO went on to explain that the hiccup in Q3 was minor in the bigger picture given the businesses they just sold in September and the organizational restructuring currently in progress. They only cut full year earnings by 6 cents and will still produce earnings of $6.64 or better. Also the changes in progress will allow Honeywell to grow earnings by 10% or more in 2017. That adds another 66 cents or more to an already robust earnings picture.
He said he was "astounded by the reaction" to the minor cut in earnings. He went on to say that while the business jet business was lagging, the aerospace business was still doing well and should not have been lumped into the warning. He also said the energy business had bottomed in Q3 and would be improving in Q4.
Basically the CEO took a giant step by going on CNBC and saying he was wrong in how the lowered earnings estimates were portrayed and he did a good job of explaining that the weakness was much narrower than presented and the outlook for 2017 was outstanding.
On Oct 21st, Honeywell (HON) reported earnings of $1.67 compared to estimates for $1.60. Revenue of $9.80 billion beat estimates for $9.78 billion. The company said it was well positioned for double-digit earnings growth in Q4 and that would push them to 8-9% earnings growth for the full year. For Q4 they guided for $1.74-$1.78 in earnings and analysts were expecting $1.80. They guided for the full year to earnings of $6.60-$6.64 and revenue of $39.4 to $39.6 billion. Analysts were expecting $6.68 and $39.63 billion.
Shares rallied despite the lowered guidance because Honeywell had already warned two weeks earlier and shares were crushed. The company focused on being upbeat about 2017 saying they expect double-digit earnings because of the restructuring they accomplished in 2016. The company laid off 3,017 positions in Q3 as they separated the automation and control solutions business into two new reporting segments. They took a charge of $202 million on the restructuring and layoffs. Because of the big drop in early October, the risk should be reduced for Honeywell shares.
In this market, any company that can produce double-digit earnings in Q4 and give strong guidance for 2017 should find some buyers. I believe the worst is over for the shares and we should see a rebound back to the highs, possibly before year-end.
Position 10/24/16
Long Jan 2018 $115 call @ $6.25, see portfolio graphic for stop loss.
After HON rises some we can turn it into a spread and reduce the premium.
INTC - Intel - Company Profile
Intel shares have weakened on worries AMD is accelerating. There was also an article that Apple could dump Intel as the processor manufacturer for the Mac. That would be a $3 billion revenue hit for Intel. I do not think that will happen since it could cause a lot of problems in the conversion for Apple and they have bigger challenges to handle. The Mac is not a focus right now. Intel is still the number one business server and personal PC chipmaker and they are moving into AI, machine learning, automotive and dozens of other IoT areas. In this business, size does matter. Intel is spending $13 billion in 2017 on capex.
Original Trade Description: October 9th.
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Software and Services, and All Other segments. The company's platforms are used in various computing applications comprising notebooks, 2 in 1 systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, retail devices, and manufacturing devices, as well as for retail, transportation, industrial, buildings, home use, and other market segments. It offers microprocessors that processes system data and controls other devices in the system; chipsets, which send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive or solid-state drive, and optical disc drives; and system-on-chip products that integrate its central processing units with other system components onto a single chip. The company also provides communication and connectivity offerings, such as baseband processors, radio frequency transceivers, and power management integrated circuits; and tablet, phone, and Internet of Things solutions, which include multimode 4G LTE modems, Bluetooth technology and GPS receivers, software solutions, and interoperability tests, as well as home gateway and set-top box components. In addition, it offers security solutions for computers, mobile devices, and networks, as well as software and services for technology integration; NAND flash memory products, which are used in solid-state drives; and custom foundry services, including custom silicon, packaging, and manufacturing test services. Company description from FinViz.com.
Yes, Intel. The father of modern computers, servers and everything chip related. They have a lot of competition today but Intel is still a chip behemoth. They rule the PC and server processor space with new developments faster than other chip makers can even conceive of them, with the exception of Nvidia, which is giving Intel a tough battle. There is enough market share for everyone so nobody is going to be squeezed out of the market.
I am not going to go into a lot of detail on Intel because everyone knows who they are and what they do. I believe this is the right time to play Intel because more than one company, including Intel, has said they underestimated PC demand over the last quarter.
The main reason behind the PC surge is Windows 10. The Window's Vista and Window's 8 problems have been forgotten because Microsoft went back to what worked and what customers wanted. Now that Windows 10 has been accepted by the mainstream consumer, the long awaited upgrade cycle is underway. That means tens of millions of PCs are being replaced with new models. Add in the millions of new tablets and servers and Intel should be doing well.
Their earnings are October 18th. I rarely suggest adding a new position only a week before earnings but the options are cheap and I expect Intel to beat the estimates and guide higher. I could be wrong but we have 14 months to be right.
Intel shares closed at a new 15-year high on Friday and just over $38. Intel is breaking out and shares could easily run to $50 over the next year. As a big cap tech with relatively little volatility, fund managers should be throwing money at the stock over the next three weeks.
Update 11/13/16: Intel announced a new chip technology and is releasing proof of concept chips while it scales up to produce them in mass 2-3 years from now. They figured out how to put a FPGA on the same chip as a Xeon processor. This eliminates the requirement to had separate chips on a single motherboard and eliminates all the bandwidth headaches of moving high-speed data between those two chips. Data transfer rates between the two processors on the same chip could start in the 50-100 gigabits per second range and increase to 2 terabits early next decade. This is going to be a game changer when it goes into production 2-3 years from now.
Update: 11/20/16: Intel held an analyst meeting and described a new chip that they will be testing in early 2017 and releasing to some test customers at the end of 2017 that is supposed to be very advanced. They claim their top of the line server chip can process a specific image recognition task in about 2,000 hours. The same task on a Nvidia GPU takes 33 hours. The new Nervana is said to be capable of performing the task in a fraction of that time. It will be more than a year before the refined chip will be available to the public. It is supposedly so fast that Intel was thinking about running it as a cloud service application. That is pretty strong talk for a chip that has not even been tested yet.
Update 12/11/16: Intel announced two deals with Amazon to expand the Alexa service. Intel is integrating the Alexa voice controls in to a smart speaker product and the company is expanding the Alexa voice controls into the Smart Home Hub. This means Intel will allow other developers to use its technology to build other Alexa powered devices. GE announced an Alexa lamp last week that replaces the Echo device.
Position 10/10/16:
Long Jan 2018 $40 LEAP Call @ $2.79, see portfolio graphic for stop loss.
Position 11/7/16:
Closed 12/16/16: Long Dec $32 insurance put @ .33, expired, -.33 loss.
JPM - JP Morgan Chase - Company Description
JPM said it resolved the final litigation over the Lehman collapse and will pay $797.5 million to end all litigation over the Lehman bankruptcy. The suit by Lehman claimed JPM had used its position as Lehman's largest clearing bank to siphon critical liquidity in the last few days before Lehman filed bankruptcy. JPM was in a position to see the collapse from the inside and sucked out billions of dollars from the cash flow in order to protect themselves from the collapse. Basically they raised minimum balance and margin requirements to reduce risk but that put a major strain on an already imploding Lehman.
JPM shares spiked on Friday on the news President Trump was going to kill the fiduciary rule roll back some of the onerous provisions in Dodd-Frank.
Original Trade Description: January 29th.
JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management segments. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment services, payment processing services, auto loans and leases, and student loans. The Corporate & Investment Bank segment provides investment banking products and services, including advising on corporate strategy and structure, capital-raising in equity and debt markets, as well as loan origination and syndication; treasury services, such as cash management and liquidity solutions; and cash securities and derivative instruments, risk management solutions, prime brokerage, and research services. It also offers securities services, including custody, fund accounting and administration, and securities lending products for asset managers, insurance companies, and public and private investment funds. The Commercial Banking segment offers financial solutions, including lending, treasury, investment banking, and asset management to corporations, municipalities, financial institutions, and nonprofit entities, as well as financing to real estate investors and owners. The Asset Management segment provides investment and wealth management services across various asset classes, such as equities, fixed income, alternatives, and money market funds; multi-asset investment management services; retirement services; and brokerage and banking services comprising trusts, estates, loans, mortgages, and deposits. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York. Company description from FinViz.com.
I seriously doubt there are any readers who are not familiar with JP Morgan. The 218 year old bank has been around for many generations. They are widely seen as the strongest of the money center banks and they are only going to get stronger. The Fed is likely to raise rates three times in 2017 and every one of those hikes means free money to JPM and the other big banks.
JPM has put all the subprime mortgage suits and probes behind them and paid out billions to settle those problems. The Trump administration is expected to reduce regulation on banks and that will reduce expenses and open up new business opportunities. CEO Jamie Dimon was not a Trump fan before the election. Now he routinely speaks positive about the president and his expectations for the future of the economy.
JPM has already reported stellar earnings and lived through a strong bout of post earnings depression that knocked the stock back to $83. The rebound has been strong and it should breakout to a new nigh soon, market permitting.
Earnings April 14th.
Options are relatively cheap for LEAPS and we can give the stock plenty of leeway before stopping out. If you are afraid of future events you can add a March $82.50 put for 85 cents.
Position 1/30/17:
Long Jan 2018 $90 Call @ $5.37, see portfolio graphic for stop loss.
NVDA - Nvidia - Company Profile
Nvidia announced a new class of supercomputing workstations with breakthrough design features. The new Quadro products provide more than twice the performance of their prior league leading technology and offer ultra-fast memory to further enhance the speed. The new GP100 GPUs provide more than 20 TFLOPS of 16-bit floating point precision computing. In english that means they are faster than the human brain can even comprehend. The Quadro GPUs can render photorealistic images more than 18 times faster than a CPU.
I continue to tell readers that Nvidia is the future of computing. They are so far ahead nobody has a chance to catch up. AMD is so far behind the can only copy chips that are generations behind. Intel is moving into another direction, actually dozens of directions, but none are competing head to head in this type of architecture.
Shares recovered from their profit taking and are moving back towards the highs.
I am leaving the order to close the $90 call open because we never know when the market is going to suddenly crash.
Previously: Our Nvidia strategy has not worked out too well. We had a $20 call spread using the 2018 $70/$90 calls. The idea was to allow the premium received from the $90 call reduce the cost in the $70 call. Nvidia reported blowout earnings that surprised everyone and the stock spiked $20 to $88 and caused the deep out of the money $90 call to explode in price. Obviously, the premium for an ATM call will decline over time relative to our deep in the money call. Temporarily, the accounting looks terrible but it will eventually correct. If we hold until expiration, we are guaranteed a $20 profit on the position.
Original Trade Description: September 18th
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for deep learning, accelerated computing, and general purpose computing; and GRID for cloud-based streaming on gaming devices. The Tegra Processor segment provides processors that integrate a computer onto a single chip under the Tegra brand name; DRIVE automotive computers, which offer supercomputing capabilities; and tablet and portable devices for mobile gaming under the SHIELD name. The company's products are used in gaming, professional visualization, datacenter, and automotive markets. It sells its products primarily to original equipment manufacturers, original design manufacturers, system builders, motherboard manufacturers, add-in board manufacturers, and retailers/distributors.
Q1 earnings rose 46% to 33 cents and beat earnings by a penny. They hiked full year revenue guidance as well as the current quarter. Tor Q2 they raised the forecast to $1.35 billion that was above analyst estimates at $1.28 billion. Gaming revenue was up 17% to $687 million but all areas of effort saw significant gains. They recently released a new graphics card that is twice as fast and 40% cheaper than the card it is replacing.
Nvidia's Graphics Processing Units or GPUs have become more than just video chips. They have become supercomputing processors and can be packaged in large groups to parallel process monster datasets and computations that would have taken weeks with conventional chips. They are truly revolutionizing the processor industry.
The focus on Artificial Intelligence or AI, a lot of companies like Google and Amazon are turning to GPUs to handle the monster amounts of data they collect every day. Facebook already uses Nvidia M40 GPU accelerators to power its Big Sur machine learning computers. Those NVIDIA GPUs were specifically designes to train deep neural networks for enterprise data centers, and the company says they are 10-20 times faster than other network computers. Nvidia said their GPD powered machine learning computers can help train networks new things in just a few hours that would take days or weeks with less powerful systems.
The new P100 GPU is 12 times faster than the prior version and can provide more performance than "several hundred computer nodes" and up to eight P100s can be interconnected to provide previously unheard of computing power. The chips in the GPUs contain more than 15.3 billion transistors each and the largest chip ever built at 16 nanometer technology. That is twice as many as on Intel's biggest chips. The P100 delivers more than 10 teraflops of performance. One teraflop can process one trillion floating-point instructions per second and the P100 can do 10 teraflops or 10 trillion calculations per second.
The COSMOS weather forecasting application runs faster on the P100 than the 27 servers, running twin multicore processors each that were previously tasked with the project. Intel makes commodity processors for the millions of PCs and servers in the world. Nvidia is light years ahead of Intel in technology. Nvidia's data center revenue increased 63% in Q1.
Update 10/3/16: Nvidia announced a new chip code-named Xavier that is specifically designed for self driving cars. The chip has (8) 64-bit ARM cores, a 512-core graphics processor based on the new Volta graphics architecture, two video processors capable of handling 8K video and a specialized computer vision accelerator. The chip has more than seven billion transistors and more than twice the new Apple A9X processor. All of that capability is on one chip.
Q2 earnings were a blowout and shares rocketed to a new high. We closed the prior position at $63.11 and I am putting a $56 entry trigger of this Watch List recommendation. We may never get triggered but it we do it should be a winning position.
Breakout entry point.
Position 9/19/16 with a NVDA trade at $63.50
Long Jan 2018 $70 LEAP Call @ $9.40, see portfolio graphic for stop loss.
Short Jan 2018 $90 LEAP Call @ $3.73, see portfolio graphic for stop loss.
Net debit $5.67.
With NVDA trade at $90.50, CLOSE Jan $90 short call.
SMH - Semiconductor ETF - ETF Profile
The chip sector faded midweek on Intel's decline but rebounded nearly back to a new high.
Original Trade Description: December 4th.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors US Listed Semiconductor 25 Index (the "Semiconductor Index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The Semiconductor Index is comprised of common stocks and depositary receipts of U.S. exchange-listed companies in the semiconductor sector. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. Company description from FinViz.com.
The semiconductor sector has been in rally mode since July. The SMH hit a high post election at $71.83 but was crushed back to $67.50 last week in the Nasdaq crash. If the economy is actually going to accelerate as analysts believe, the chip sector will be a leader. Everything we do today has some kind of chip component from smartphones to refrigerators to automobiles. Everything we touch has a chip if it is even remotely electronic.
Chips were soft from the middle of 2015 until July 2016 as the economic struggled along at a roughly 1.25% growth rate. I believe they are poised to rally higher over the next year. The growth of the cloud with millions of servers added every year is just one area that is seeing new chip technology.
Because of the crash last week the LEAP prices have declined to reasonable levels unlike most individual stocks.
Position 12/5/16:
Long Jan 2018 $75 LEAP Call @ $3.44, see portfolio graphic for stop loss.
SPY - S&P-500 ETF - Put - ETF Profile
The expected January dip has failed to appear. The potential for a decline before February expiration is extremely remote. This position is likely to expire worthless. You could turn this into a spread by selling the $227 put, currently 68 cents and recover a portion of the premium.
We came within 32 cents of having our exit stop hit on Tuesday.
Original Trade Description: December 11th.
The SPDR S&P 500 ETF Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index.
The market is nearing a top. When and where, nobody knows for sure. However, there are calendar and headline events in our near future that could trigger a significant decline.
The market has posted a remarkable string of gains with the Dow making a new high close on 14 of the last 22 sessions. The S&P has rallied 171 points in 22 days or roughly +8.2%. The Russell 2000 has rallied 20.1% over the same period. Those would be good annual gains but to do it in 22 days has moved the market into very overextended status. And, it may become even more overextended before the bubble pops.
The market typically rises in the two weeks before Christmas and has a mixed record for the days after Christmas. The direction in the post holiday sessions normally depend on the market in the weeks before the holidays. If the market is up strongly, then traders begin to short the market in anticipation of a January decline. If the market was only slightly bullish then window dressing tends to lift the indexes in the post holiday sessions. Those trends are not what we are worried about today.
There are three basic problems. The first is Dow 20,000. The odds are good we will hit that milestone over the next ten days and that could be a very obvious sell the news event. Large round numbers tend to be psychological targets and they do not get much larger and rounder than 20,000. When the target is hit, quite a few traders may decide to take profits and shut down for the rest of the year. Dow 20K could be a bump in the road but probably not the biggest obstacle.
The second problem is the monster market gains in the post election honeymoon phase. Fund managers are putting every penny they can raise into the market in order to leverage as many gains as possible before the end of the year. They are competing with their peers and to keep their jobs and collect their bonuses. This suggests the rally could continue in some fashion until after Christmas. The problem for the next two weeks is the lack of cash. Analysts claim most funds have run out of cash because of their efforts to leverage the gains for the rest of December. That means the withdrawal cycle in January could result in a lot of selling in positions that have exploded higher over the last month.
While there is a lot of end of year retirement money hitting the funds they are investing every penny. Once January arrives and we are in a new tax year, there is no longer any reason to hold grossly overextended positions. Traders and portfolio managers will want to capture the gains and then invest the money for the next year before being forced to pay taxes. That makes January potentially rocky after a big year-end gain.
Dow - January 2016
Lastly, there is the January 20th inauguration and the associated event risk. With more than one million people attending and hundreds of thousands more lining the parade route, the potential for a terrorist attack is very high. I am sure quite a few investors will want to lock in profits and raise cash before that event risk.
So, there are multiple reasons why the market could decline over the next five weeks and very few reasons why it should continue making new highs.
I am recommending we protect ourselves from potential loss by hedging with some puts on the SPY. The ETF closed at $226.50 on Friday and futures are up strong on Sunday evening. We could see a continued rally this week but this rubber band is just about stretched to its limit.
This is not a LEAPS position. This is insurance. I am using the February puts. I am going to start with an entry trigger at $224.50 and then move the trigger and strike up if the market continues higher. The SPY has initial risk to $219-$220 and secondary risk to $216.
The put position on the SPY was triggered on the 28th when the ETF traded at $224.50. The initial support is $219 and we could see a retest of $215.
Position 12/18/16 with a SPY trade at $224.50
Long Feb $221 put @ $2.70, see portfolio graphic for stop loss.
SPY - S&P-500 ETF - Call ETF Profile
This is a potential long position on the SPY in case we do get a material market dip. We want to buy any dip in anticipation of a longer-term rebound. With the S&P spiking back to resistance I raised the entry trigger to $225 and the strike to $230.
February expiration week and the following week are sometimes bearish. Options are expiring, earnings are winding down, tax returns are being prepared and money removed from the market to pay those taxes.
Change the entry trigger to $225 and the strike to $230.
Original Trade Description: January 2nd.
The S&P ETF mimics the S&P-500 index on a 1:10 ratio.
Most analysts believe the market sill finish significantly higher in 2017. Some analysts expect the Dow to reach 24,000 or even 25,000 by the end of 2017. A 10% move would be 22,000 and 15% 23,000. Those targets are possible but 25,000 would be a real stretch.
Analysts are rapidly updating their 2017 S&P forecasts in light of the recent rally. These are the highest estimates on the street today.
2,275 Fundstrat, Tom Lee
2,300 Bank of America, Savita Subramanian
2,300 Credit Suisse, Lori Calvasina
2,300 Goldman Sachs, David Kostin
2,300 Morgan Stanley, Adam Parker
2,300 UBS, Julian Emanual
2,325 Jefferies, Sean Darby
2,340 Canaccord, Tony Dwyer
2,350 BMO, Brian Belski
2,350 Deutsche Bank, David Bianco
2,400 JPMorgan, Dubravko Lakos-Bujas
2,400 Barclays, Jonathan Glionna
2,400 Societe Generale, Roland Kaloyan
2,424 Piper Jaffray, Craig Johnson
2,425 Citigroup, Tobias Levkovich
2,450 Oppenheimer, John Stoltzfus
2,500 RBC Capital Markets, Jonathan Golub
If any of those targets come true, buying some January 2018 SPY calls on a dip could be a profitable trade. Unfortunately, they are expensive.
I changed the strike to $225 and expect the premium to be about $8 if $220 is hit. If we get filled, we will hold them all year and sell a short call against them late in the year to recover some of that premium.
With a SPY trade at $225
Buy Jan 2018 $230 call, estimated premium $8, no initial stop loss.
If you like the trade setups you have been receiving and you are on a free trial then now is the time to subscribe. Don't wait until you miss a newsletter to decide you want to take the plunge.
Prices Quoted in Newsletter
At Option Investor we have a long-standing policy prohibiting the editors and staff from actually trading the individual recommendations in order to conform to SEC rules concerning trades.
The prices quoted in the newsletter are the end of day prices in most cases.
When discussing fills or stops the prices quoted are the bid/ask at the time the entry trigger or exit stop is hit. This is NOT a price that someone on staff actually got using a live order.
For entry/exit points at the market open the prices quoted will be the opening print. The majority of the time readers are able to get a better fill than the opening print because of market maker bias at the open.
For trades with an opening qualification the prices quoted will be the bid/ask at the time the qualification was met.
All of these rules normally produce worse prices than an active trader would normally get. Because they are standardized there may be some cases where a price quoted was better than an actual fill. If you received a price that was dramatically different than what was quoted please let us know.


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subset: commoncrawl


text:
Profiles store information about the logged in user and other users. You can get information like nicknames, profile picture, and more.
The friends API is used to get a list of a user's friends connected to the same application. It's useful for creating friends lists. It can be compared to local data to see which friends in an app are online.
The contacts API is similar to the friends API. The difference is that it shows followers, pending and allows blocking other users. It can be used to handle notifications about friend requests and other user features.
Allows users to communicate within your application by sending private requests to other users.
Online data storage for players.


text:
High School Bible Study - Comfort Zone
We all have a comfort zone - and it's called that for a reason! In these 5 studies, "Our Need to Know Everything," "I Gotta Have All My Stuff," "You Want Me to Do What?," "Hey! You're Cutting in Line!," and "Fear: You Are Now Entering the Danger Zone," students are challenged to discover the borders of the comfort zone and to move outside of it for the sake of Jesus Christ. Students will study the Gospels and some Old and New Testament stories of those who trusted in the Lord. Written by Keith and Betsy Strain. Revised by Toby Mueller. Sample of high school course. A link to this resource will be sent to the e-mail address on the order as soon as the order process is complete.


text:
Howlund International Corp.
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As a committed, dynamic human resources and immigration consulting firm, Howlund International Corp. is ready to supply you with quality, hard-working, and dedicated workers.
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Serving Albertans since 1993, we have brought many foreign skilled workers to Alberta. Federally-licensed for providing expert immigration services, we are able to process your foreign workers' Work Permit applications in house.
Contact Us


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After what seems to have been a century (but was only, in fact, two months) we finally have solid information on the four remaining episodes of House's fourth season. The series will be settling into its Monday night post-Bones time slot at 9:00 p.m. ET/8:00 p.m. CT on April 21, with a re-airing of "Don't Ever Change," which is where we last left off.
Then. (Insert fanfare-ta-da-da-da!) Then the new episodes begin April 28 with "No More Mr. Nice Guy," featuring a "too nice" emergency room patient with a potentially much more serious problem than has been diagnosed. Of course, House thinks the guy's "niceness" is a symptom.
In the meantime, as Amber and House continue their competition for Wilson's attention, chaos is certain to ensue. Since most House episode titles convey a multitude of meanings, one can only guess who is no longer going to be playing "nice" (along with the patient, that is). Is it Wilson? Amber? Or is it House himself, who seemed to have given his blessing to Amber and Wilson's relationship when last we saw them in February? Let the speculation begin!
In the May 5 episode, "Living the Dream," House's obsession with soap operas comes into play as he notices something is not quite right with an actor on his favorite show Prescription Passion. Neither House's team, nor the actor himself, believe anything is awry, as they dismiss House's assessment that the soap star (Jason Lewis) has a serious medical condition.
The fourth season finale, a two-parter called "House's Head," will air on consecutive Monday nights, May 12 and May 17. In part one (May 12), House is a passenger on a bus when it is involved in a serious accident. With a head injury causing him short-term memory loss, he begins to piece together recalled fragments about a fellow passenger who was exhibiting signs of a "deadly illness." Unable to recall who the person was, or even how he came to be riding on the bus, House desperately tries to process the information from "fleeting flashes" to save the life of someone who may not even know he or she could be dying. As part two, "Wilson's Heart" (May 19) unfolds, and House continues to pieces together his murky memories of the accident and the night before, his friendship with Wilson is pushed to the limit.
I have not seen any of the episodes, so this is all I know from the latest FOX press release. Sorry. If you've seen the previews shown following recent reruns on FOX, you can see flashes of the accident, and House inside the bus as it happens.
One more bit of news for readers of this column. I will be interviewing House executive producers/writers Garrett Lerner and Russel Friend after part one of the season finale airs on May 12. I'm very excited to have the rare opportunity of a one-on-one (I guess it's technically one-on-two) converstation with Friend and Lerner, who are the writing team behind several particularly character-driven episodes, including "Skin Deep," "Meaning," "Cane and Able," and "97 Seconds." Oh, and I almost forgot to say — they are also two of the season finale writers. So stay tuned!


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FONTANA, Calif. — Since 1949, when the apparent winner of the very first race in what became NASCAR's top series was disqualified for car modifications outside the rules, the not-so-delicate dance between NASCAR inspectors and team crew chiefs has been a big part of stock-car racing.
With so many parts, so many hidden areas, so many tempting opportunities for playing on the edge of being legal, it was clear from the first laps in that first season that the battle of wits between NASCAR police and top mechanics would match the on-track competition between drivers.
The late, great crew chief Harry Hyde (who was the model for the character Robert Duvall played in the otherwise largely forgettable NASCAR movie Days of Thunder) often described toying with the rulebook as "gettin' competitive." If you weren't doing it, Hyde reasoned, you were far behind everybody else because they were.
Violations over the years have ranged from the ridiculous (tubes inside the car carrying extra fuel) to the sublime (tiny body modifications not always visible to the naked eye).
There have been fines both big and small, crew member suspensions, cuts in practice times and other detriments to rulebook abuse. Few have worked long-term.
Dealing with such shenanigans is an ongoing process for NASCAR. And this week, there was a lot of going on.
Thirteen Cup teams failed to make a qualifying lap Friday for Sunday's Auto Club Speedway race. Their cars were rejected by NASCAR's Optical Scanning Station, the sanctioning body's newest (and apparently most effective) tool to catch miscreants among the garage area population.
This was not surprising. A race car's aerodynamic shape on the ACS course, a two-mile track that produces high speeds, is a key to its speed and handling. Every wrinkle in the car body has an impact, however small.
So teams had plenty of incentive to test the strengths of the OSS, and some did. Embarrassingly for NASCAR (and the teams), 13 didn't compete for qualifying spots, ruining whatever "show" there might be in time trials.
Those 13 were banished to the rear of the starting grid, but therein rested a problem. Because they didn't make a qualifying lap on their new tires, the unlucky 13 would have started the race with a bit of an advantage. Drivers are required to start races on the tires with which they qualify, so the teams who did not run afoul of the inspection system would have been at a slight disadvantage because their tires were somewhat worn.
NASCAR responded Friday evening, allowing the teams that posted qualifying laps to switch to new tires for the start of the race.
Not retiring: Johnson losing Lowe's sponsorship but retirement not in his plans
Catching Harvick: Kyle Busch poised to ascend to top step at Fontana
The latest: Martin Truex Jr. takes first 2 stages at Fontana
A bigger step was taken Saturday morning as officials informed teams competing in Saturday's Xfinity Series race that those that failed pre-qualifying inspection would be required to pit on lap one of the race for a "pass-through" penalty, in effect costing them considerable on-time time.
Tellingly, all teams passed inspection.
That NASCAR change is very significant, and it's expected to continue next week at Martinsville Speedway in Virginia. Teams are likely to put much more emphasis on presenting "legal" cars if they know the penalty might include a lap or more lost on track.
Give the edge in this ongoing battle, at least for the moment, to NASCAR. But don't be surprised if the pendulum keeps swinging.
It always has.


text:
HI! Everyone!
tou-Gen-kyo Spring Festival 2012.
Sat, April 28, 2012 - Thurs, May 31, 2012
The stamp rally is also due to be held.
The show of VITAMEN is also due to be held.
Don't miss it!
Immediately after determining for details, it publishes to this blog!!!!!
Welcome to "tou-Gen-kyo"!!


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Cryptocurrency has become a bit of a buzzword lately. Understanding cryptocurrency is a challenge though. It is similar to regular money, but there are plenty of differences.
The biggest difference between cryptocurrency and regular money is that cryptocurrency isn't regulated by a government agency, but understanding the nuanced differences is more difficult.
Instead, focus on how cryptocurrencies can be used. By understanding how they can be used, you'll come closer to understanding Bitcoin, Ethereum, and other cryptocurrencies better.
Here are three ways cryptocurrencies are being used, and how they are going to be used more and more in the future.
Smart Contracts Without the Need for Intermediaries
Although Bitcoin is the most well-known cryptocurrency, it isn't the only one, and it isn't necessarily the most innovative one. Ethereum is a cryptocurrency that's worth your attention as well.
This form of cryptocurrency focuses on making smart contracts easier and more affordable because it enables you to enter into contracts with other people without an intermediary.
It is used in:
- Buying and selling goods
- Insurance claims
- Letter of Credit in trade finance
- Royalty payments
A real-life example might be when you rent an apartment. Instead of trusting your new landlord to receive your payment and provide you with a key to enter, you can use Ethereum in the Blockchain. If the key isn't turned over to you in time, a refund will be released to you automatically.
As a Form of Payment for Freelance Services
Chances are, you won't be paid in cryptocurrency if you're working a traditional job, especially if that job is funded by the government. However, there are plenty of other jobs that may be willing to issue payment in the form of cryptocurrency.
Freelance jobs are the most likely to offer cryptocurrency, like Bitcoin, at the moment. But, in the future, you will find many other agencies and employers will be offering cryptocurrency as a form of payment.
When Purchasing Goods and Services
If cryptocurrency is supposed to be a kind of money, it makes sense that you should be able to spend that currency just like you would spend money. However, spending cryptocurrency is a bit challenging. Because it isn't regulated like other currencies, many retailers aren't prepared to accept them as a form of payment.
But as cryptocurrencies have increased in popularity, some retailers have decided to get in on the action by accepting Bitcoin as a form of payment.
It's not just off-the-wall, unknown businesses that accept Bitcoin as a form of payment either. Many retailers you would recognize accept Bitcoin including:
- com
- Expedia
- Newegg
- Dish
- Microsoft
You can even use cryptocurrency to buy jewelry for your loved ones at Reeds Jewelers!
If you don't understand cryptocurrency, don't worry. As it continues to become more and more popular, understanding exactly how it works and how you can use it will become easier. Prepare for a world where cryptocurrency is the norm and invest in one or two cryptocurrencies so you're ready for what the future of money holds.


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Katz Architecture comprises an engaging, communicative and enthusiastic team of professionals. At Katz Architecture you will work directly with the project team and design director to ensure that your project receives a wide range of experience, technical knowledge, attention to detail and logically resolved design.
What our clients say:
"I was able to again attest to your skills and ability to work well with the client to achieve an innovative and creative outcome, respond to individual concerns whilst also being able to push back when required."
Lydia Wilson, CEO City of Manningham
"We were thrilled with Paul and his team throughout the whole process. They communicated well, listened to our thoughts and oversaw the constructions of our wonderful 'Outdoor Learning Area."
Matthew Coney, Principal of Scoresby Primary School
Key Team Members
Paul Katz - Principal Director
Arch. (Hons)
A.I.A (Australian Institute of Architects)
A.R.V (Architects Registration Board of Vic)
Accredited Greenstar Professional 2006
Paul is the creative and visionary inspiration behind Katz Architecture. His ability to find innovative solutions to difficult problems has earned him an enviable industry reputation. Accustomed to leading highly skilled design teams in all facets of a projects procurement, he is keen to resolve client requirements as a first priority, in a way that surpasses expectations.
Paul has particular skills in understanding client and stakeholder requirements and translating these into creative and sustainable design solutions. Clients love to see their ideas turned into architectural reality.
Paul was a Principal of highly regarded Melbourne Architect Daryl Jackson, and later Design Director of Haskell prior to establishing Katz Architecture in 2011. His extensive international experience includes completed projects in England, Vietnam, China, New Zealand and all states around Australia.
Tom Turner - Associate and Technical Director
Architecture. (Hons)
A.R.B.V. (Architects Registration Board of Victoria) 16903
Tom is a passionate and dedicated Senior Associate of the firm bringing extensive experience in complex architectural projects.
Prior to joining Katz Architecture, Tom worked with highly regarded firms DCM and later as Associate with Hassell, managing major projects up to $200m.
Tom is a team leader and oversees project deliverables from both the architectural and consultant teams. His sharp eye for detail and dedicated pursuit for architectural perfection ensures the technical aspects of our projects are fully resolved, documented and delivered.
Tom brings particular skills in resolving project requirements to the finest details. His tenacious persistence results in elegantly resolved project details and complexities.
His ability to lead, coordinate and manage large consultant teams ensures the firm's documentation is well above industry standards and reduces risks to our clients.
With a friendly and easy going nature, Tom is well liked and highly regarded by his peers, colleagues and clients, and a highly valued member of our team.
Technical and Support Staff
Our key team members are supported by our experienced and dedicated team of architects, interior designers and technicians. With proven depth of experience across all areas of building design and procurement, we bring a team dedicated to ensuring the successful delivery of your project.


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I am very big fan of WWE shows.I used to watch WWE Latest Video and never missed any WWE shows since last 6 months.Last month, I disconnected my Reliance Big TV cable because TV consumes most of my precious blogging time and when I got free rest of my time will be spent out on Facebook.So I couldn't get enough time for bloggiing and it was my little blogging mistake.
I thought I would see it on YouTube but YouTube doesn't allow Indian users to watch WWE matches from either computer or Mobile.I have tried a lot from their official WWE YouTube channels but it do not allowed me to watch WWE videos online.
Whenever I wanted to watch video on YouTube, it says error that the uploader has not made this video available in your country.I shocked because I already disconnected my Reliance Big TV subscription and I am a very big fan of it.
I found another way to watch WWE videos on YouTube.I used search bar option on YouTube to search the WWE videos.There are some YouTube channels allow us to watch WWE videos from any country.The main drawback I found was that I was only able to watch YouTube videos on a random basis.Because each and every time I search on YouTube, I get the different channel to watch WWE videos.
I got a superb www.wwespot.com website which allows me to download & watch WWE videos online.The site allows me to watch all latest WWE videos with their dates.Everything needed is just choosing the appropriate date you want to watch, and it will serve you the latest WWE episodes in front of you.
The website has excellent traffic on it.When I visited their website, it has around 44 visitors online at the same time.It uses Whos.Among.us to track online visitors on their website.
The site allow you to Watch WWE Videos Online Free on your browser, so you can only watch the WWE videos online. However, it is a better option than YouTube if the uploader is restricting any country from watching those videos.
See Also: 10 Websites to Download Free Mobile Movies
Another good method to watch restricted YouTube video is by using VPN service. You can simply install free chrome extensions like Zenmate or any other VPN on your computer. So that it will hide your real IP and you will be able to enjoy watching restricted YouTube video.
If you are using any other website to stream WWE videos online, please share it with us by commenting in the comment section below.


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Around 4 a.m. last Saturday, aboard a commuter train sidling through Long Island, a faint whimpering began to fill the sixth car somewhere east of Wyandanch.
Two children, a 3-year-old boy and a 14-month-old girl, sat in a double stroller, their diapers soaked through their clothes.
A man had been with them earlier, witnesses recalled, pushing the stroller into the car at the Jamaica station. Crew members checked the bathrooms for him. They ducked into neighboring cars.
"No parent," said Sgt. Gary Rinaldi of the Metropolitan Transportation Authority Police, who met the Long Island Rail Road train at the Ronkonkoma station around 4:20 a.m. "They could see they were on their own."
It is a pastime for commuters on the transit system to leave something behind — a punched ticket, lunch detritus, or, less intentionally, a wallet or a phone. But transit officials said that last weekend's episode appeared to be without precedent: two young children, brought aboard for an early morning ride and then stranded — at least briefly — without anyone noticing.
Crew members stayed with the children until the train reached Ronkonkoma, trying gamely to entertain them. "They were actually playing with the kids when we pulled up," Sergeant Rinaldi said. "Conductors usually have little trinkets here and there. He was making noises with the hole puncher."
A passenger hurried home from the station to get a diaper, Sergeant Rinaldi recalled, before emergency personnel took the children to Brookhaven Memorial Hospital Medical Center. They "appeared to be in good health," Sergeant Rinaldi said.
The police soon learned that the man identified as the children's father had gotten off at Hicksville. It was unclear why. A spokesman for the authority said the man seemed to have become disoriented and appeared to officers to be intoxicated. After calling 911 himself to report that he had left the children, according to Sergeant Rinaldi, the man told officers that he had fallen asleep on the train. (The authority asked that the man's name be withheld to protect the children's privacy.)
He was charged with two counts of endangering the welfare of a child. On Friday, he pleaded guilty in district court in Nassau County, a spokesman for the district attorney's office said. He was sentenced to five months in jail.
Sergeant Rinaldi said the man had 22 prior arrests in New York since 1982, for offenses that included violent crimes, sex abuse and attempted robbery. He added that the children's mother had an order of protection against him, barring the man from coming into contact with her or the children.
But when reached after the children were found on Saturday, according to the police, the woman said she was aware that they had been with their father, though she did not know where he had taken them.
Child protective services have become involved in the case, Sergeant Rinaldi said, but it was unclear in whose care the children would remain.


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Jerry's Midnight Snack
Gamesbook.com > Brain teasers > Puzzle Games > Puzzling > Jerry's Midnight Snack
Jerry the little mouse is walking in his sleep. Can you guide him in the right direction, by putting arrows of cheese on his way? The green arrows disappear once Jerry's walked over them, the yellow ones don't. Guide Jerry to the key, that he needs to open the door. If Jerry hits a wall, he'll just turn around and keep on walking. If you place a spring on Jerry's path, he'll jump over the following arrow or obstacle. Unfortunately the room where Jerry's walking is full of dangers: holes in the floor and turning fans. If he hits one of these things, he'll lose one of his five lives. Fortunately there are positive things, too: the pieces of orange cheese are worth bonus points. The pale blue spirals, so-called teleporters, have a special function, too: they aspire Jerry, and blow him out somewhere else in the room. If you've put the arrows at the right place, you can press the green Start button. If you want to change something, just click on the red Reset button. Good luck!
Use the mouse to play this Tom and Jerry game.
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Map & Facilities
= Featured Locations
The pedestrian trail just south of Fullerton Ave. (2300 - 2200 N) is CLOSED until further notice. View a map of wet pavement cautionary areas along the lakefront and please heed the warning signs in these areas.
49 E. 95th St.
Chicago, IL 60619
Renovated Fall 2013, Chicago Plays! Renovation Program


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Hire the Choir
If you want to add a little extra to that special occasion, why not hire the famous Felling Male Voice Choir? Whether a concert, wedding, a corporate event or a celebration of any sort, we can provide some musical magic and make it a day to remember.
The choice is yours
With 99 years experience, we've covered all types of music; from the sacred, to classical, to the shows and pop. Our current repertoire covers a great number of favourites, including:
Close to you, Alexanders ragtime band, All you need is love, Annies song, Anthem ( from Chess ), Bogorodisye Dyevo, Bohemim Rhapsody,
When the saints go marching in, Bring him home, Bridge over troubled water, Cullercoars bay,Going home, I dreamed a dream,
American Trilogy, Blaydon races, You raise me up, Trostein Musik,
and much much more
For anything outside of our large repertoire, we can usually accomodate, given sufficient advance notice
Join the Choir
The choir are looking to recruit new members. Tenors are always in high demand as all choirs know. Whether you are tenor, baritone or bass we would love to hear from you. If you enjoy singing a wide range of music in the company of a friendly group of men please contact: Mike McCabe for more information and an informal chat.
Why join?
1. It's fun!
2. For the social, friendly atmosphere
3. Singing is good for your health
4. For the wide range of music
5. We're the best male choir in the North East!
6. For the concerts across the region and throughout the UK
7. For the opportunities to sing with other choirs, major bands and professional soloists
8. For the choir's "away" weekends involving wives and partners
Need to know more? Have a look through our Frequently Asked Questions.
Q: When and where do you rehearse?
A: Each Friday in Felling Methodist Church Hall, Coldwell Street, Felling, Gateshead, between 7.00pm and 9.30pm.
Q: Can I come along and listen without commitment?
A: Of course! You will be warmly welcomed any Friday evening. Tea and coffee are available in the interval.
Q: I can't read music – can I still be considered?
A: Sight-reading ability, whilst welcome, is NOT a pre-requisite. Your voice is what we require and all we ask is that you can sing in tune.
Q: Isn't male voice choir music "all the same"?
A: Not at all! The current repertoire encompasses music of the last 400 years and arrangements of modern classics are a regular feature of our programmes.
Q: Surely I wouldn't be good enough to join "The Felling"?
A: Not true! The choir (like most choirs) has singers of various abilities. It is the skill of the Director of Music which moulds these abilities and produces the end result. No-one need be inhibited in joining.
Q: Is there a nerve-racking audition?
A: Certainly not! Initially, you will have a very basic voice test to place you in the appropriate section (1st Tenor, 2nd Tenor, 1st Bass or 2nd Bass) of the choir and you will be sat alongside an experienced member who will act as your mentor or "buddy" to guide you through the first few rehearsals. Some time
the Director of Music will ask you to sing a short section of music rehearsed over the past few weeks to check on progress and, hopefully, to confirm your membership of the choir.
Q: How can I find out more about the choir?
A: Contact Mick McCabe ; speak to any member; or simply drop in at a rehearsal – see above – you will be made most welcome.
You're very welcome to drop in at a rehearsal, should you decide to "look us over". You'll be invited to sit in the choir and join in the singing, without any pressure, and then enjoy coffee and a chat with members during the interval. Rehearsals are held each Friday, 7:00pm to 9:30pm, at Felling Methodist Church: Coldwell Street, Felling, Gateshead, NE10 9HH. You can be assured of a warm welcome.
Health and Choirs
Music calms the troubled mind and body
To Hire The Choir
Contact Mike Scott [email protected] 01912640276
To Join The Choir
Contact Mick McCabe


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by NICK HOLLOWAY
The work of two ceramic artists makes up this year's Elisabeth Zuckerman Memorial Exhibition, named in honour of the former Bluecoat Display Centre director, who died in 2004. The exhibition is split between the centre's recently reopened space at the rear of The Bluecoat and its temporary (but much roomier) home on Hanover Street.
Gabriele Koch's work occupies the first with a modest, but beautiful, selection of pots and vessels. Her early work is shapely stuff; round like ripe fruit but with marbled surfaces that are reminiscent of satellite pictures sent back from foreign planets. There's also a welcome glimpse of the artist's latest works, in which the uniform shapes of earlier works are replaced by knots and scars that seem to bubble out of the clay.
Robin Welch continues the exhibition a short walk away in Bluecoat Display Centre Two. In places, his ceramic work resembles a rare find on an archaeological dig; in others it appears that he's taken his inspiration from a crooked chimney in some neglected northern town. Meanwhile, a few canvases reveal the cross-pollination that exists between his 2D and 3D work.
Until Aug 2, Bluecoat Display Centre, School Lane, Liverpool. Tel: 0151 709 4014. Bluecoat Display Centre Two, 54 Hanover Street, Liverpool, both open Mon to Sat 10am to 5.30pm, Sun noon to 5pm, free. Tel: 0151 709 1555. http://www.bluecoatdisplaycentre.com


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Victor Davis Hanson is Professor of Classics at California State University. His particular interest is in the military history of the Greek city-states, and his books have revolutionized the study of the subject.
The Case for Trump
The Second World Wars: How the First Global Conflict Was Fought and Won
© Hachette Australia, All Rights Reserved · Site by Chook


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Tersan Shipyard Orders Deck Equipment
PALFINGER MARINE and Harding Safety recently signed a contract to provide lifesaving equipment and cranes for two fishing vessels being built in Tersan Shipyard. Each vessel will be equipped with two PALFINGER MARINE knuckle boom cranes, one A-frame fast rescue boat davit, and one fast rescue boat. Harding Safety, which was acquired by PALFINGER in June of this year, will be supplying the fast rescue boats. This contract represents the first results of the Joining Forces strategy.
The cranes were sold by Marsis, PALFINGER MARINE's long-time partner in Turkey: "Tersan Shipyard has been a long-time customer for our cranes and davits. With the acquisition of Harding, we are now able to offer PALFINGER MARINE davits and Harding boats as a single package to this customer," says Marco Destro, Sales Manager for Davit Systems at PALFINGER MARINE.
The PKM 250 knuckle boom crane has a max. outreach of 12 m and a lifting capacity of 2 t and is designed for general cargo handling. The PRHE 25 A-frame fast rescue boat davit offers a safe working load of 27.5 t with a maximum hoisting speed of 18.8 metres/min. The fast rescue boats type FRB 610 60 HP offer a maximum seating of eight persons and 22 knots maximum speed.
Bjørn Sturle Hillestad, Global Sales and Marketing Director at Harding, appreciates the future offered by "Joining Forces": "Purchasing equipment from a single source creates new opportunities for our customers. Offering complete packages of deck and lifesaving equipment will save time, resources, and service visits for our clients."
"Tersan Shipyard is already a highly valued customer of PALFINGER MARINE cranes and our partner Marsis has really opened doors for us in the Turkish maritime industry. Being able to offer our customers even more value as supplier of complete deck equipment systems makes us proud", says Sebastian Wimmer, Sales Manager for Marine Cranes.
The equipment will be delivered to Tersan Shipyard in June and July 2017.


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Valentine's Day Bouq
$55.00 – $120.00 inc GST
This Valentines Day, spoil your someone special with Brisbane's Best Red Roses handcrafted with Love by Little Mr Bouqs for the one you love. We have three sizes to choose from, starting from just $55 inc delivery. Our Bouquets contain large headed Colombian Explorer Roses.
Little Mr Bouqs brings Brisbane the most beautiful flowers this Valentine's Day.
With Little Mr Bouqs, enjoy the highest quality Valentine's Day flower arrangements. We offer three sizes: 3 roses, 6 roses or a dozen roses delivered in Brisbane. You can even get great add-on products, with Champagne, Candles or Teddy Bears.


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Born in Hawaii to an American mother and a German father, Nicole considers Norway her second home. After studying textile design for one year in London she has recently moved back to Oslo and plans to continue her studies in Norway. She enjoys traveling, knitting, vintage shopping, and creating.
Anyone else going to some music festivals this summer? – Roskilde? Øya? Way Out West? We wish we could go to all of them! Last summer we wrote about the
Continue reading…
Big week this week with more designer collaborations, new store openings and the celebration of a big Nordic holiday. Get updated with our weekly Nordic News. -This week was Midsummer,
The Danish rapper Lucy Love, who is known for albums such as "Superbillion", is now out with a new music project/alter ego called Baby Blood. Also Recommened– Friday Fever: Artymove
Some good news for the coming months: shoes from Adax and more designer collaborations! Get updated with our weekly Nordic News. –Adax, known for their quality handbags, is now releasing
With a unique sound of electronic pop mixed with 'trip-hop from the mid 90's and alternative R&B of today', Artymove has been shaking up the town of Stockholm since they
This week brought in another round of brand/designer collaborations. With Mads Nørgaard x Freya Dalsjø and IKEA x HAY this summer season has a lot in store. Get updated from
It really feels like summer is here! In Oslo, people are swimming in the fjord and out enjoying the sun until it sets. See the latest in summer fashion, design,
23- year old Danish producer Sekouia is known for his relaxed and organic approach to producing and electronica. He will release his debut LP "flac" in September and will be
This week has been another busy week of designer collaboration announcements from H&M to &Other Stories. Get caught up with our weekly Nordic News. –Kenzo (the king of print) is H&M's
At the young age of 19, Norwegian Helene Hammer has already graced the covers of various magazines around the world and modeled for some renowned photographers. She even won a


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Mexican Taxing Authority, SAT.
The SAT is a deconcentrated body of the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) responsible for enforcing tax and customs regulations so natural and legal persons may contribute proportionally and fairly to public expenditure, to regulate taxpayers so they comply with tax and customs regulations, to facilitate and encourage voluntary compliance, and to generate and provide the information necessary for the design and assessment of the tax policy.
Secretaría de Economía.
The Ministry of Economy in Mexico, through the Area of Competitiveness and Regulation, has the Direction of Commercial Regulations that is responsible for promoting the use of advanced electronic signature in the procedures and processes in charge of the Ministry and its´ coordinated sector, together with other agencies of the Federal public administration, state administrations and autonomous bodies.
The Direction of Commercial Regulations, (a.k.a. DGNM, by its initials from the Spanish DIrección General de Normatividad Mercantil) has diverse responsibilities, among which are the following: To coordinate actions for the administration and operation of the Certifying Authority and Registrar of the Ministry of Economy, authorize strategies for the accreditation, regulation and audit of Certification Service Providers, establish guidelines and mechanisms for conducting inspections, visits and requirements to monitor compliance with Mexican official standards and other provisions to regulate the services of electronic signature and digital certificates.
National Institute of Transparency, Access to Information and Data Protection, INAI.
The INAI is an institute at the service of society. It is in charge of guaranteeing your right to access to public government information, protecting your personal data held by the federal government, and resolving on denials to access to information by agencies or entities of the federal government.
Cámara Nacional de la Industria Electrónica, de Telecomunicaciones y Tecnologías de la Información CANIETI
The Mexican Chamber of Electronics, Telecommunications and Information Technologies (CANIETI) has been an advocate for these industries in our country for 80 years, promoting their growth and development within a global setting through high-quality services.
Our main goal is to boost the Mexican industry's growth and competitiveness, with social responsibility and a collective effort to pursue common rights and interests.
In 2003, 2004, 2006, 2007, and 2010, CANIETI was granted the National Ethics and Values Award, conferred by the Mexican Confederation of Industrial Chambers (CONCAMIN) to the organizations that show social responsibility and commitment –among their members and the whole community.
European E-Invoicing Service Providers Association, EESPA
The EESPA is an international not-for-profit association that was organized under Belgian law in 2011. The EESPA acts as a trade association at European level for the community of e-invoicing service providers, drawn from organizations that provide business outsourcing, financial, technology, and EDI services..
Mexican Institute of Public Accountants IMCP
The Mexican Institute of Public Accountants (IMCP) is a federation founded in 1923 comprising 60 professional associations that group over 20 thousand public accountants associated throughout the country.
It is mainly a social organization whose fundamental purpose is to consider the professional and human needs of its members so as to raise their quality and preserve the values that have guided the practice of public accountants.
It is a regulatory institution, since it issues regulations such as the code of professional ethics, which provides the rules of conduct that all associates must comply in order to be considered a part of this institution.
It is the first institution in Mexico that received in 2005 the certificate of adequacy to act as a certifying entity from the Department of Public Education (Secretaría de Educación Pública).
In a global environment, the IMCP belongs to the regional entity Inter-American Accounting Association (Asociación Interamericana de Contabilidad or AIC), which groups accountants from all America, and to the International Federation of Accountants (IFAC).
Instituto de Contadores Públicos de Nuevo León
is the largest community of accountants in the state with about 2,500 members and more than 66 years of evolution and development. Our purpose is to meet the professional and personal needs of our membership , raising the quality of its services, preserving the values that have guided the practice of being an accountant.
Colegio de Contadores Públicos de Guadalajara Jalisco CCPG
We are a group of professionals that permanently promote the integral development of all its partners, in compliance with the Code of Ethics. A College that transcends the business community, government entities and intermediary organizations, which is characterized as a governing institution within the scope of our competence. A Federated leader inside the Mexican Institute of Public Accountants.
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GS1 México was born in 2010 as the global Association of standards in E-commerce that helps to transform the way we work and live. It creates a common base for retail-related businesses, with unique identification, accurate capture and automatic sharing of information products, location and asset. GS1 Mexico facilitates visibility through the exchange of authentic information driving the e-commerce in the country, promoving the growing up of businesses and improving their efficiency, safety and sustainability.
Be part of the most important digital tax newsletter in Mexico.
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Another weather report
A walk in my surrogate backyard after a snow storm. But there are changes afoot.
Winter memories – in the shadows
Another thing that is wonderful about winter is the shadows. The sun never gets very high and without the canopy on the trees, shadows abound! The snow blanket creates such great shapes and textures. It's really a fun thing to shoot. Ok, and so there's a plant in snow, too. Could you resist? Nope.... Continue Reading →
Winter Memories – the dead leaves version
So as much as a big, sweeping landscape captures the attention and I love doing them, but I also get caught by little details and vignettes. Especially leaves in snow! That gorgeous sunlight doesn't always cooperate, but when it does, I obsess a little. The texture it brings up is amazing and mostly lost... Continue Reading →
Vernal pools – Part 5
No it isn't spring yet, but the vernal pools are still beautiful and biding their time.
In praise of the subtle landscape
You don't always have to set the color sliders to 11. With a little care you can make a subtle landscape interesting and dramatic.


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Updated 1/11/2012 6:32 am – We have a black president, yet Hollywood is still pulling shits like this? FUCK YOU HOLLYWOOD (to the racist upper managements). George Lucas is on my good guys list, and Hollywood is on my shitty list…
Source: http://www.huffingtonpost.com/2012/01/10/george-lucas-hollywood-di_n_1197227.html
George Lucas: Hollywood Didn't Want To Fund 'Red Tails' Because Of Its Black Cast (VIDEO)
First Posted: 1/10/12 02:12 PM ET Updated: 1/10/12 09:32 PM ET
"This has been held up for release since 1942 since it was shot, I've been trying to get released ever since," Lucas told Jon Stewart. "It's because it's an all-black movie. There's no major white roles in it at all…I showed it to all of them and they said no. We don't know how to market a movie like this."
"Red Tails," which stars Cuba Gooding, Jr., and Terrence Howard, is based on the Tuskegee Airmen, the group of pioneering black pilots who fought in the United States' segregated armed forces during World War II. The movie is directed by Anthony Hemingway, the rare black director getting a chance to direct a big-budget feature.
Last week, Lucas told USA Today that he was worried that if Red Tails was a failure, it could have negative repercussions for black filmmakers. "I realize that by accident I've now put the black film community at risk [with Red Tails, whose $58 million budget far exceeds typical all-black productions]," he said. "I'm saying, if this doesn't work, there's a good chance you'll stay where you are for quite a while. It'll be harder for you guys to break out of that [lower-budget] mold. But if I can break through with this movie, then hopefully there will be someone else out there saying let's make a prequel and sequel, and soon you have more Tyler Perrys out there."
Related articles
- George Lucas: Hollywood Didn't Want To Fund 'Red Tails' Because Of Its Black Cast (VIDEO) (alwaysquestionauthority.wordpress.com)
- George Lucas: 'Red Tails' was not 'green enough' for Hollywood studios (thegrio.com)
- Seven Minutes of 'Red Tails' Footage; George Lucas Talks Black Cinema (screenrant.com)
- George Lucas Talks About the Difficulty of Getting A Black Film Made in Hollywood (clutchmagonline.com)


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$ 75.00 $ 150.00 Free Shipping + No Hassle Returns You Save 50% ($ 75.00)In Stock (Please allow 3-7 Business Days for Delivery)
It never fails. You're riding your favorite trail, hitting every switchback perfectly, leaving your riding partners in the dust and then… nature calls and the dreaded, cumbersome pit stop ensues. At least, that's how it used to be. Our Women's Liner Bib with IPF™ technology makes those inevitable pit stops quick and easy.
Crafted using lightweight, breathable materials, our liner bib shorts are designed to be worn under an overshort and provide just the right amount of compression without being constricting. The open back design plays nice with your sports bra, minimizing overlap. Dual pockets provide ample space for your ride necessities like a water bottle, snacks, and tools while laying nicely over the waistband of your overshorts.
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