text:
Private equity in Belgium: market and regulatory overview
A Q&A guide to private equity law in Belgium.
This Q&A is part of the PLC multi-jurisdictional guide to private equity. It gives a structured overview of the key practical issues including, the level of activity and recent trends in the market; investment incentives for institutional and private investors; the mechanics involved in establishing a private equity fund; equity and debt finance issues in a private equity transaction; issues surrounding buyouts and the relationship between the portfolio company's managers and the private equity funds; management incentives; and exit routes from investments. Details on national private equity and venture capital associations are also included.
To compare answers across multiple jurisdictions, visit the Private Equity Country Q&A tool. For a full list of jurisdictional Q&As visit www.practicallaw.com/privateequity-mjg.
Market overview
Pension funds and other asset managers (including private equity houses other than funds of funds) contributed strongly to the Belgian private equity market in 2010. Commitments from pension funds, which had been one of the main sources of capital in 2009 nearly doubled in 2010 at EUR195.1 million (as at 1 November 2011, US$1 was about EUR0.7).
The level of fundraising activity in Belgium doubled in 2010 compared with 2009. Nearly 65% of new funds raised were from Belgian investors. Investments in Belgian companies accounted for EUR938 million. Of the private equity firms headquartered in Belgium, 25 were venture specialists, 12 focused on buyouts and 11 are generalist firms.
The following statistics are from the latest report of the European Private Equity and Venture Capital Association (EVCA).
Total fundraising by Belgian private equity firms in 2010 was EUR732 million, nearly double the level in 2009.
The expected allocation of funds raised in 2010 indicates an increasing share of funds allocated to buyouts and growth capital with nearly EUR690 million representing 94.3% of the total (compared to EUR282 million and 79.4% in 2009).
Investment and transactions
Investments in Belgian companies in 2010 included:
Start-up investments. These amounted to EUR59.9 million (compared to EUR85.3 million in 2009).
Later stage venture investments. These amounted to EUR15 million (compared to EUR60.8 million in 2009).
Buyouts. Buyouts increased substantially and accounted for nearly 67% (EUR626,5 million compared to EUR546.9 million in 2009).
Replacement capital. This decreased by nearly two thirds to EUR42.6 million (compared to EUR118.7 million in 2009).
Growth capital. This decreased to EUR178.6 million (from EUR292.5 million in 2009).
The investment distribution by sector was (amount invested):
Life sciences. 2.7% (compared to 6.5% in 2009).
Computer and consumer electronics. 3.0% (compared to 8.0% in 2009).
Business and industrial products. 4.4% (compared to 12.7% in 2009).
Energy and environment. 4.2% (compared to 9.8% in 2009).
Communications. 16.3% (compared to 1.9% in 2009).
Consumer goods and retail. 49.3% (compared to 8.0% in 2009).
In 2010, private equity firms based in Belgium invested a total of EUR938.4 million in 105 companies. Investments decreased slightly compared to the 2009 figure of EUR1.16 billion.
Domestic investment by Belgian private equity firms represents nearly 47% of transactions in 2010 (compared to nearly 78% in 2009). The share of investment in other European countries increased to 50.4% at EUR253.4 million in 2010 (compared to 10.0% at EUR104 million in 2010). The remaining 3% represented investments in non-European countries (compared to nearly 1% in 2009).
Total divestments in 2010 by private equity firms based in Belgium were EUR244.3 million from 49 transactions (compared to EUR305.2 million from 69 transactions in 2009). Popular forms of exit in 2010 included (by percentage of the total amount at cost):
Trade sales. 38.1% (compared to 59.7% in 2009).
Sales of quoted equity. 48.6% (compared to 12.2% in 2009).
Tax incentive schemes
Incentive schemes
Apart from the special tax regime applicable to privaks (see Question 7), investors in any Belgian limited liability company enjoy favourable tax treatment on capital gains and dividends.
Capital gains
Capital gains realised by a Belgian company on the sale of shares in a subsidiary are exempt from corporate income tax. A minimum duration of one year of the shareholding is required. However, capital losses on shares are not tax-deductible, except following the liquidation of a company when the capital loss can be deducted from taxable income up to the amount of the investor's paid-in capital.
Withholding tax
In general, interest and dividend payments are subject to withholding tax of 21% or, most likely, 25%.
However, many exemptions exist.
Dividends allocated by a subsidiary to its parent company are exempted from withholding tax when the parent company both:
Is located in another EU member state or in a state with which Belgium has concluded a double taxation convention.
Has maintained a minimum share of 10% in the capital of its subsidiary for an uninterrupted period of at least one year.
The extension of the exemption from withholding tax on participation dividends to dividend payments to a contracting state (non-member of the EU) applies to dividends allocated or made payable as from 1 January 2007 (Directive 90/435/EEC on the taxation of parent companies and subsidiaries (Parent-Subsidiary Directive)).
A participation exemption applies in relation to dividends attributable to a Belgian permanent establishment. Dividends are initially included in the taxable income and then 95% of the dividends are subsequently deducted from that taxable income. The participation exemption is not granted to income allocated or assigned by companies that are not liable to corporate income tax or to a similar foreign tax, or which are established in countries with a tax system that is markedly more advantageous than the Belgian system. A tax regime is considered markedly more advantageous when the normal corporate income tax rate or the effective tax burden is lower than 15%. The common right fiscal provisions applicable to companies located in the EU are deemed not to be markedly more advantageous.
To benefit from the scheme, the following conditions must be satisfied:
A holding requirement of at least 10% of the share capital or not less than EUR2.5 million.
The shares must have been held in full ownership for at least one year.
The shares must be held as financial fixed assets (portfolio investments are not eligible).
Where there is little or no taxable profit, the remaining participation exemption can now be carried over the next taxable periods, as a consequence of the recent Cobelfret judgment by the European Court of Justice (CJEC, 12 February 2009, C-138/07).
A 10% withholding tax is charged on the amounts attributed following either the:
Liquidation of the issuing company.
Total or partial distribution of the company's assets.
Repurchase by the company of its own shares.
The amount liable to withholding tax is the amount chargeable as a dividend under CIT provisions. However, shareholders are exempt under the Parent-Subsidiary Directive.
Interest payable on loans taken out by Belgian companies to acquire Belgian or foreign shareholdings is generally fully deductible.
Debt-to-equity ratio
There are no general thin capitalisation rules and so it is not necessary to observe any debt-to-equity ratio within a Belgian company. Specific thin capitalisation rules can be imposed in special circumstances but only for corporate income tax purposes. Where these rules apply they impose a debt-to-equity ratio of:
1:1 where the lender is a director or an individual shareholder.
7:1 if the actual beneficiary of the interest paid by the Belgian company is not subject to taxation on income, or is subject on its interest income under a tax regime that is more favourable than the Belgian tax regime.
There is no time limit when carrying forward tax losses.
Value added tax (VAT)
A holding company that acquires a stake in a business, without intervening directly or indirectly in its management, is not deemed to be paying VAT. Therefore, VAT cannot be deducted by that company.
Capital duty
Capital contributions to a Belgian company are not subject to any registration tax at company formation or at a later date (except, sometimes, for contributions of real estate into the capital of a company).
Notional interest deduction (NID)
The NID allows companies to claim a tax deduction for the cost of capital by deducting a notional interest rate calculated on the company's equity (including reserves) (Law on Notional Interest Deduction). It aims to encourage equity funding in small and medium-sized companies. Where there is no (or no sufficient) tax base, the notional interest deduction cannot be carried forward.
At whom directed
The tax incentive are applicable for all investors.
Fund structuring
Various legal forms are allowed for the incorporation of a company (Company Code 7 May 1999 (Wetboek van Vennootschappen or Code des Sociétés)). The structure most commonly used for domestic private equity funds is a Belgian company limited by shares (naamloze vennootschap (NV) or société anonyme (SA)).
An NV or SA must have at least two shareholders. The shareholders can be corporate entities or individuals, and both Belgian or foreign. The minimum share capital is EUR61.500. Shares can be either registered or bearer and can be with or without a nominal value. However, from 1 January 2008, bearer share issues are no longer allowed. In general, shares are freely transferable. However, company law permits transfers to be restricted by means of either a shareholders' agreement or a statutory clause (Article 510, Company Code).
Two specific types of undertakings for collective investment (instelling voor collectieve belegging or organisme de placement collectif) have been created:
The public privak (publieke privak or pricaf publique). A public privak can be constituted either:
by contract (prifonds). Prifonds take the form of an investment fund (beleggingsfonds or fonds de placement). That is, they are a set of jointly owned assets, managed by a management company (beheersvennootschap or société de gestion) that has no legal personality;
as an investment company (beleggingsvennootschap or société d' investissement). These privaks have their own legal personality and can be incorporated either as an NV or SA, or a partnership limited by shares (commanditaire vennootschap op aandelen or société en commandite par actions). They are subject to company law, with a few specific exceptions.
The private privak (pricaf privée). A private privak can only be constituted as an investment company. It can be incorporated as any of the following:
a company limited by shares (an NV or SA);
a partnership limited by shares;
an ordinary limited partnership (gewone commanditaire vennootschap or société en commandite simple).
Private privaks
Private privaks benefit from fiscal transparency as they are virtually exempt for direct and indirect tax purposes. The tax rules for private privaks are basically the same for both foreign and domestic investors:
Corporate income tax. Although private privaks are, in general, subject to corporate income tax, the basis for the calculation of the tax is the total amount of abnormal or gratuitous advantages received and any disallowed expenses, with the exception of capital losses and reductions in value on shares. In practice, this is a favourable tax regime.
Withholding tax. No withholding tax is payable where the following exemptions apply (Royal Decree of 23 May 2007 (Privak Decree)):
dividends are paid by the private privak to its shareholders and those shareholders are foreign persons or companies that did not commit their capital to a professional activity in Belgium. This exemption applies when the dividends originated in dividends issued by foreign companies. However, this exemption does not apply when the dividends paid by the private privak originated in dividends paid to the private privak by Belgian companies;
the dividends are from capital gains on shares realised by the private privak.
Capital gains tax. Capital gains realised on shares held by the private privak are tax exempt.
Other structures
Non-collective investment structures do not benefit from the same tax regime. Ordinary limited partnerships (which are not formed as a private privak) are comparable to UK limited partnerships. Therefore, they are likely to be regarded as tax transparent vehicles under UK law and in most other continental jurisdictions.
Most investment vehicles do not satisfy Belgian requirements for transparency. A foreign fund is subject to Belgian taxation on realised capital gains and dividends, and other income received in Belgium, where these are attributable to any Belgian establishment. If so, taxation is on the same basis as for Belgian resident companies. A Belgian establishment is a fixed place through which the professional activities of a foreign company are entirely or partly conducted in Belgium. This is similar to the definition of a permanent establishment under the tax treaties. An investment vehicle cannot claim the benefits of double tax treaties on the basis that it is subject to a more favourable tax regime in its home jurisdiction. If treaty protection is not available, the investment vehicle is liable to tax in Belgium.
Investment objectives
The most common investment objective is to achieve a maximum return on investment and various techniques are applied to do so. Most investments are structured as straight equity because of the exemptions on the proceeds (whether dividends or capital gains) (see Question 7). For investors and funds, a maximum leverage effect can be created to reduce the taxable profits of a Belgian target. This can be achieved by structuring the investment through subordinated debt (see Question 5, Debt-to-equity ratio).
Fund regulation and licensing
A private equity fund can qualify as an institution for collective investment. To do so, a licence from the Banking, Finance and Insurance Commission (BFIC) must be obtained.
All Belgian public privaks must be registered with the BFIC. To register, it must prove that it has the technical and financial resources, and accounting and administrative facilities that are appropriate to its activities. In addition, the board of directors must be sufficiently independent and the board's members must have the appropriate experience to carry out their functions properly.
A private equity fund, structured as a company limited by shares, is unregulated if its shares are not offered to the public in Belgium. However, a private equity fund in the form of a privak (public or private) must fulfil certain legal requirements.
Public privaks
A public privak can only be registered if the BFIC has:
Given the management company or the investment company authorisation.
Accepted the management regulations or the contents of the articles of association.
Approved the appointment of the depository.
The essential document for the application is the prospectus. It must include all the information required by potential buyers to make a full assessment of the investment policy and the related risks.
Private privaks
The private privak regime is governed by the Privak Decree, which has substantially reduced the list of requirements.
A private privak can only be constituted as an investment company in certain legal forms (see Question 6). The private privak must comply with (among other things) the following requirements:
The private privak must have at least six investors. The minimum commitment of each investor is EUR50,000.
The private privak's shareholders' meeting must decide with a majority of at least four shareholders jointly holding at least 50% of the voting rights (subject to any other applicable majority requirements provided by the Company Code and the private privak bye-laws).
These limitations do not apply if at least one shareholder holds at least 30% of the private privak's voting shares and has a special status, such as:
An undertaking for collective investments (UCITS).
A pension fund.
A company operating under governmental authorisation.
The classes of financial instruments in which the private privak is allowed to invest are limited to financial instruments issued by non-listed (Belgian or foreign) companies, including private loans (such as mezzanine financing). The private privak has no geographical limitation nor is there an obligation to diversify investments.
The private privak is not allowed to control a portfolio company. However, there are certain exceptions to this prohibition, such as in case of a company incorporated exclusively with a view to holding debt instruments (Privak Decree).
Before starting its activities, the private privak must be registered on the Ministry of Finance list of private privaks. The statutory auditor supervises private privaks (Privak Decree).
Marketing and advertisement rules
The nature of the offer determines the type of marketing rules and restrictions that apply:
Non-public offers (private placement). There are no specific rules as to who can promote and market shares in a private fund (including private privaks), or to whom the marketing can be directed. Investors in a fund incorporated as an ordinary company limited by shares can be approached using a private placement memorandum, but only if this is not considered to be a public offer (see below, Public offers).
There are restrictions on promoting and marketing products, including rules concerning:
advertising (including prohibiting misleading and comparative advertising);
the obligation to inform consumers;
illegal selling practices (for example, the dissemination of inaccurate or false information);
abuse provisions (for example, tying (koppelverkoop)).
Public offers. The law of 16 June 2006 relating to public offers of investment instruments and the admission of investment instruments to trading on regulated markets (Prospectus Law) implements Directive 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading (Prospectus Directive) into Belgian law. These require an approved prospectus to be published for qualifying transactions. However, the Prospectus Law goes further than the Prospectus Directive by including transactions not covered by the directive.
A private equity fund, structured as a company limited by shares, is unregulated if its shares are not offered to the public in Belgium.
Generally, no specific rules apply to the maximum or minimum investment periods, amounts or transfers of investments in private equity funds. However, some restrictions can be found in the regulatory framework for private privaks (see Question 11).
Investor protection
A management company administers investment vehicles such as public and private privaks. The rights of the investors and obligations of the management company are usually set out in the internal rules of the fund. Typical clauses include:
Veto rights of minority investors in relation to specified transactions.
Formation of an investment committee, containing representatives of minority investors, which has the right to veto new investments and exits (depending on the fund manager's track record).
Protection where transactions involve a conflict of interest (for example, a requirement for approval by independent directors).
Interests in portfolio companies
Pure equity
Generally, investors buy or subscribe to common shares. Convertible bonds and warrants, giving potential access to the share capital, are also used. Holders of common shares are entitled to the full benefits of a successful exit but have no priority over other shareholders in the event of an unsuccessful exit. The NID abolished capital contribution duty as from 1 January 2006 and, in addition, introduced risk capital deduction (see Question 5, Notional Interest Deduction (NID)), which is an attractive system for new equity funded entities and activities in Belgium.
Convertible debt
Convertible debt has no priority over other debts in the event that the company is liquidated (see Question 26). If bank finance is involved, the banks are likely to insist that the convertible debt is treated as subordinate to the bank debt.
The advantage of warrants is that there is no need to make any cash outlay before it becomes apparent that the warrants are in profit. The disadvantage is that the company does not receive any immediate injection of funds from the investment. Therefore, warrants are typically only used as an additional equity kicker to a debt or equity investor who simultaneously provides a substantial cash investment to the company.
Issue of shares
Shares can be issued by the authorised corporate body (for example, in a general shareholders' meeting or by the board of directors) provided it is done in accordance with the company's articles of association and the Company Code. As a result, the company's share capital can be increased by either:
A shareholder vote amending the articles of association.
The board of directors (where authorised share capital is used).
Restrictions on transfer
In general, shares in an NV or AS are freely transferable. However, it is possible to restrict transfers through a shareholders' agreement or a statutory clause (see Question 4).
Takeover bids
On 1 September 2007, the Belgian Acts of 1 April 2007 and the Royal Decree of 27 April 2007 on public takeover bids entered into force implementing Directive 2004/25/EC on takeover bids. Squeeze-out bids are regulated by a separate Royal Decree of 27 April 2007.
The Belgian rules on voluntary takeover bids require the bidder to prepare a prospectus and to have it approved by the BFIC. There are specific rules on the notification of a contemplated bid to the BFIC and the offeree's board of directors must:
Draw up a memorandum in response.
Inform the works council of the bid.
Notifiy the BFIC of advertisements that are published in relation to the bid.
The breakthrough mechanism (in other words the non-application of share transfer restrictions during the bid's acceptance period) and/or the prohibition on the board of directors taking any defensive measures, only apply to Belgian companies when the articles of association explicitly contain these rules.
The new legal framework differs substantially from the former regime in relation to mandatory takeover bids. The new Act no longer requires a public tender offer where a higher price than the market price has been paid to acquire control over a company. The obligation to launch a public tender offer on all voting securities, and all securities giving access to voting rights, arises when a shareholder holds, alone or in concert with others, more than 30% of the voting securities of a Belgian company listed on a regulated market.
However, there is a grandfathering exception for persons who held (alone or in concert with others) more than 30% of the voting securities of a listed Belgian company before 1 September 2007. Under this exception, shareholders that agree to a certain amount of co-ordination in relation to their shareholdings are deemed to be acting in concert for purposes of Belgian law and are not subject to the tender offer requirement.
Transparency legislation
The Belgian law of 2 May 2007 aims at bringing the Belgian rules concerning the disclosure of voting rights in line with Directive 2004/109/EC on transparency requirements for securities admitted to trading on a regulated market and amending Directive 2001/34/EC (Transparency Directive). Some of the more important changes the law makes are as follows:
The mandatory thresholds remain the same but the possibility of specifying lower thresholds in the articles of association has changed. Where, under current legislation, the threshold can be set below 5% but can be no less than 3%, the Law allows, in line with the Transparency Directive, the thresholds to be set at 1%, 2%, 3%, 4% or 7.5%.
The issuer must be notified as soon as possible but no later than four trading days after the holding is acquired (compared to two days under current legislation).
On notification by a shareholder, the issuer must disclose the notification within three days (currently within one day).
The notification is mandatory when the thresholds are crossed (up or down) due to the acquisition and disposition of shares. This is also mandatory where crossing passive thresholds (for example, following a capital decrease or capital increase).
It is common for buyouts (including some major buyouts) to take place by auction but there is no specific legislation covering this. There is no absolute fiduciary obligation to sell to the highest bidder and therefore the board of directors can consider other factors when deciding which bid to accept.
Buyouts of listed companies do occur but are rare, partly because these types of transactions are complex. Public offers for shares of publicly traded companies are subject to extensive regulation and a public offering of securities requires the publishing of a prospectus approved by the BFCI (see Question 11, Public privaks). In addition, a buyer can be obliged to start a buyout offer followed by a squeeze-out procedure (see Question 15).
Principal documentation
Buyer protection
Typical clauses included for the protection of contractual buyers are as follows:
Representations and warranties (non-management). The purchase agreement is comprised of representations and warranties made by the sellers. A buyer is not allowed to rely on a representation or warranty if:
he had actual knowledge that the representation or warranty was false;
he should reasonably have known that the representation was false, based on the information disclosed by the seller in the data room before the transaction was completed.
Institutional sellers are often extremely reluctant to provide any representations or warranties other than confirmation that they own the shares.
The sellers' indemnification obligations are usually limited by cap, threshold and duration and may be guaranteed by various instruments. Representations and warranties include those given in relation to tax, other financial matters, and social and environmental issues.
Representations and warranties (management). Management are often the only people who can make accurate representations and warranties. However, they are usually reluctant to incur personal liability by doing so. Possible solutions include:
limiting liability to a specified amount;
requiring management to make representations only on a best-knowledge basis.
Non-compete undertaking. A non-compete undertaking is usually requested from the management.
Other solutions (specific indemnities and escrow). Where specific problems are identified in the due diligence, sellers can be required to indemnify against any losses arising out of those problems, regardless of whether the buyer had actual knowledge of them.
Where major problems are anticipated, or where the seller is not expected to be solvent after closing, it may be desirable to escrow a portion of the purchase price to cover indemnity claims.
It is usual for management participating in an MBO to enter into management or employment agreements. A wide range of terms are usually imposed, including:
Confidentiality provisions.
Non-compete undertakings.
Non-solicitation undertakings.
In addition, most managers are required to forfeit all or some of their equity (or share options) in a Belgian company if they leave voluntarily or are dismissed for cause. If so, the purchase price for the manager's equity share may be less than market value (known as a bad leaver clause). In other circumstances (such as death, disability, or termination without cause), the manager is allowed to keep his equity in the company (known as a good leaver clause).
Minority investors
A minority investor is usually granted the right to nominate one or more members of the company's board of directors. This right can be included in the company's articles of association (a binding nomination), but is much more likely to be found in the shareholders' agreement.
Minority shareholders can also be granted veto rights over specific corporate actions, such as:
Use of authorised capital by the board of directors.
Appointment of managing directors and key managers.
Decisions in relation to certain investments, divestments, borrowing, lending and guaranteeing.
This is often achieved by issuing a separate class of shares to the minority investor and then granting veto rights to that class of shares (or to a director appointed by the investor).
Majority investors
A majority shareholder can remove the company's board of directors virtually at will and, therefore, does not require additional protection.
Minority investors
A minority investor is usually granted the right to nominate one or more members of the board of directors of the company. This right can be included in the company's articles of association (a binding nomination), but is much more likely to be found in the shareholders' agreement.
Minority shareholders can also be granted veto rights over specific corporate actions, such as:
Use of authorised capital by the board of directors.
Appointment of managing directors and key managers.
Decisions in relation to certain investments, divestments, borrowing, lending and guaranteeing.
This is often achieved by issuing a separate class of shares to the minority investor and then granting veto rights to that class of shares (or to a director appointed by the investor).
Majority investors
A majority shareholder can remove the company's board of directors virtually at will and, therefore, does not require additional protection.
Debt financing
Generally, a substantial part of the finance on a buyout is provided by debt and occasionally this can be as much as 80%. The usual sources of debt financing are loans from institutional investors, financial institutions and the sellers themselves (in private acquisitions).
Institutional investors usually lend money directly to a company by purchasing privately placed bonds without an investment bank acting as a placement agent. There are also a number of funds that provide mezzanine finance.
Commercial banks have always been a source of debt financing. Most commercial banks have acquisition finance teams that specialise in arranging acquisition finance. For larger loans, one or more banks generally arrange a syndicated facility.
Lender protection
Security, in the form of pledges of equity (share pledges) and other collateral (such as receivables), is available, subject to applicable financial assistance rules (see Question 23).
The Collateral Law (Wet Financiële Zekerheden) allows a taker of collateral to enforce a financial collateral arrangement when an enforcement event occurs, without the collateral provider being given an opportunity to remedy the situation, or without any judicial procedure, even where there are existing insolvency proceedings in place. This ensures that certain provisions of insolvency law that would hinder the effective realisation of the collateral do not arise, provided that the parties act in good faith. Belgian courts may exercise control afterwards over the realisation or valuation of the relevant financial obligations to verify that they were conducted in a commercially reasonable manner.
Debt providers can take first charges over the fixed assets of a company, and it is also possible to take a floating charge (pand op handelszaak) over the company's assets. In the event of either bankruptcy or companies in distress (such as a restructuring in accordance with the act relating to the continuity of enterprises (wet op de continuïteit van ondernemingen)), secured creditors are paid before the generally preferred creditors and unsecured creditors. Secured creditors are creditors secured by:
Other special preferential rights on real or personal property.
Other mechanisms
Subordination agreements and inter-creditor agreements are also used to protect the interests of debt providers and are generally enforceable on subsequent insolvency.
Financial assistance
Under the new rules that entered into force on 1 January 2009, a company is entitled to provide financial assistance with a view to the acquisition of its shares by a third party provided the following stringent conditions are met (Article 629, Company Code):
The transaction must be authorised by the board of directors as being under fair market conditions, taking into account the usual market interest rate and the usual collaterals for similar types of financing as well as the credit standing of the third party.
The transaction is subject to prior approval by the general meeting of shareholders with the same quorum and majority requirements as for an amendment to the articles of association.
The board of directors must draft a special report explaining:
the reasons for the transaction;
the interest of the company in entering into the transaction;
the conditions of the transaction;
the liquidity and solvency risks for the company; and
the price at which the shares are sold.
In addition, if a director of the parent company or the parent company itself benefits from the transaction, the board's report must explicitly justify the decision, taking into account the capacity of the beneficiary and the consequences for the assets of the company.
The assistance must be paid out of, and cannot exceed, distributable profits (as defined in Article 617 of the Company Code). The company must set up a non-distributable reserve on the liabilities side of its balance sheet equal to the total amount of the financial assistance.
Distribution of dividends
In addition, a special general meeting of shareholders can approve the distribution of dividends from profits that have been reserved and approved by the annual ordinary general meeting of shareholders. A distribution of dividends is usually made through the approval of an ordinary or special general meeting, although under certain circumstances the board of directors can also approve the distribution of an interim dividend. This kind of dividend distribution is commonly used in the context of private equity transactions.
Except for the requirement for sufficient distributable profits, these conditions do not apply where financial assistance is granted to company employees or to affiliate companies controlled by employees.
Insolvent liquidation
The order of priority on insolvent liquidation is as follows:
Secured creditors. Secured creditors are paid before the generally preferred creditors. However, their claims only relate to the assets over which they have taken security, while generally preferred creditors can have their claims satisfied out of the general assets.
Generally preferred creditors. The following are generally preferred creditors:
the government (mainly relating to contributions to the Social Security Office in relation to employees' remuneration);
tax authorities which also have certain special protective powers (for example, seizure of assets);
employees (in relation to their remuneration and indemnities).
Unsubordinated creditors.
Subordinated creditors.
Shareholders. Shareholders are paid last, once all debts have been satisfied.
Equity appreciation
Portfolio company management
A common management incentive is to give the managers a combination of shares and options.
Share option plans are also often used because they can receive favourable tax treatment in Belgium. For example, it is possible to pay relatively low upfront tax at the time of the grant of the share options and to realise a tax-free capital gain, provided that the options are not exercised earlier than three years from the date of the grant (Law of 26 March 1999 relating to the 1998 Belgian Employment Action Plan). In addition, a well-designed share option plan can provide for a period of vesting (which determines when the options become exercisable).
Shares can be issued at a 20% discount if the employer uses part of a new share issue (Article 609, Company Code). The 20% discount is exempt from both income tax and social security contributions, subject to certain conditions (for example, a five-year lock-up period).
However, there are no other specific tax reliefs or incentives available to management investing in their companies.
There are no restrictions on dividends by a portfolio company to its investors. There are no general thin capitalisation rules for interest payments and so it is not necessary to observe any debt-to-equity ratio within a Belgian company. Specific thin capitalisation rules can be imposed in special circumstances but only for corporate income tax purposes. Where these rules apply they impose a debt-to-equity ratio of:
1:1 where the lender is a director or an individual shareholder.
7:1 if the actual beneficiary of the interest paid by the Belgian company is not subject to taxation on income, or is subject on its interest income under a tax regime that is more favourable than the Belgian tax regime.
There is no time limit when carrying forward tax losses.
Exit strategies
Forms of exit
The most commonly used forms of exit are:
Secondary sales (where the private equity provider sells his interest in the company to a third party).
Trade sales of the company to a third party.
Auctions, which are particularly beneficial if they are organised between strategic third party buyers and investment underwriters contemplating an IPO for the company.
An IPO of the company on the relevant stock exchange.
Advantages and disadvantages
Although the IPO remains the most prestigious and profitable exit, current slow-moving worldwide stock market conditions mean that the secondary sale and the trade sale remain the most popular forms of exit in Belgium.
Forms of exit
The alternatives for an exit are generally limited for an unsuccessful company. Under certain circumstances, a separate sale of healthy business units can be considered. In extreme situations, a company can be liquidated (on a solvent or insolvent basis) or declared bankrupt.
Advantages and disadvantages
The advantages and disadvantages of these alternatives can vary widely in each case.
Private equity/venture capital association
Belgian Venture Capital and Private Equity Association (BVA)
Status. The BVA is a non-governmental organisation.
Membership. Members of the BVA consist of full members (private equity organisations directly involved in providing funds to entrepreneurs) and associate members (organisations providing goods or services to the private equity industry, including lawyers, consulting firms and banks).
Principal activities. The BVA was set up in 1986 as a professional association with the following goals:
Promoting the private equity industry in Belgium.
Establishing a unified front capable of serving as a spokesperson to the government in legal and fiscal matters.
Assuring communication with similar associations abroad, particularly the EVCA.
Handling statistical data regarding venture capital sectors.
Enhancing the possibilities of association between members.
Promoting an entrepreneurial spirit in Belgium.
Contributor details
Luc Wynant
Van Olmen Wynant
E firstname.lastname@example.com
W www.vow.be
Qualified. Belgium, 1989
Areas of practice. Private equity; corporate and financial law; M&A.
Recent transactions
- International and domestic share and asset acquisitions.
- Venture capital and debt capital markets, (leverage) management buyouts, divestitures, funds formations, mergers and company reorganisations.
- Member of the Belgium Venture Capital and Private Equity Association and the European Private Equity and Venture Capital Association.


text:
Everything stored on computers takes up data (this is going somewhere, I promise). We humans, being the social creatures that we are, feel compelled to share things with others. This biological inclination didn't go away with our relatively new obsession with digital things, so we now find ourselves regularly wrestling with the issue of getting data that's stored on one of our devices onto someone else's. WeTransfer and its new Android app can help with that.
Read More

subset: commoncrawl


text:
One of the best..
Prints / Wins | 2 |
Votes Received | 92 |
Votes Given | 0 |
Comments | 3 |
Shirts Owned | 25 |
Closet | 0 |
15 Followers
7 Comments
I love birdman, it's flying to me now :)
hey ky11, love the work! could you check out my design Fishers of Men and vote if you like? It will be a DBH first with all the embellishments.
Great designs man! I love them all. Sent you some votes…come check out my designs and if you like them drop a vote!
man do u have the birdman shirt printed anywhere else
bec L Size is out of stock
thxx for the great design
nice collection of work! pl feel free visiting my humble designs and vote if you like them.. thnx..
Happy Lunar New Year to my fellow creative human. I hope the year of the Ox brings you strength, and new found creativity to share with us all. I have a new design posted called Red Bonzai Sea, take a look hope you enjoy. Best wishes, Artist Unite in 2009.


text:
With the final prices, or at least close to them, on the table for all three next-gen systems, there's a lot of speculation about whether Sony's PlayStation 3 can possibly compete against the other two rivals.
The PS3 will come in with the hefty price tag of about $600 for the 60 GB hard drive SKU. The Xbox 360 prices out at $400 for the "premium" SKU and it looks as if the Wii will come in the cheapest at under $250.
GameSHOUT recently conducted a poll of its readers to find out if they thought the PS3 was too expensive. It seems about 64 percent did and 36 percent didn't. This isn't all that surprising.
The PS3 isn't necessarily going to be a kid's toy, though. This machine is designed to be a full entertainment system, and by the looks of it, Sony's going to capitalize on this. It wants to not necessarily impress young gamers, but the more "sophisticated" adults instead. While the move might leave the kiddy market open for the Wii, and no amount of gadgetry will pry an Xbox out of a Halo fan's hands, the PS3 will appeal to those who want to get some serious bang for their bucks. And by all reports, that's just what buyers will get.
The PS3 will not only be able to play some graphics heavy next-gen games, it will also offer Blu-ray technology, its own version of Live play and more. Frankly, when the system's looked at in its entirety, it pretty much will do everything but the dishes. Sony's set it up to be an "entertainment supercomputer," and if the options are all considered, it's actually kind of a deal.
The price on the PS3 might make it hard for some to attain, but those who might be tempted to count the console out because of it, should just wait and see. If Sony gets out of the gate at launch with a console that works and is actually in stores, it's my guess it will have no trouble taking one large chunk out of the next-gen market. The launch titles might hurt Sony, but not for long is my prediction.
Powered by Sidelines


text:
Digitally Speaking puts speaker presentations online, both live and on-demand, in a secure, cross-platform and cost-effective manner. It is a transparent experience for the speakers, engaging and robust for the end-users and with little overhead for organizers.
There is a space bigger than the conference room, and an audience larger than your attendee list. Now there's a way to reach it.
You focus on the content, we'll extend its reach.


text:
My brother and I are both 3.5 players. We signed up for an open tourney this weekend and I thought I'd just pass along the experience. We are solid 3.5, perhaps bordering on 4.0s. We won a 3.5 doubles tournament earlier this year and a dozen years ago we played Div. II college, so we are not without some skill. I played the fourth seed in the first round. He's a 5.0, just out of college and looking to play Futures soon. He beat me 6-2, 7-5. I played a really solid match. I think he got a little complacent and played down. Nevertheless, he turned it on when he needed to. Still we had some great rallies and it was 1 hour, 50 min. match. I got some congrats from friends when I came back to the viewing area for how well I played. My brother on the other hand, should have won his 1st round match. He actually had a match point before going down in three sets. He went on to win a round in the Consi! I got spanked 1 and 1 in my Consi and didn't play well. Yes we were a little out of our league, but my brother won a round and had three matches and I gave a seeded player a bit of a scare in the first round. Point being, if you are a strong 3.5 don't shy away from playing some Opens. It will give you an idea of what you need to work on, and who knows; on a good day maybe you could get an upset. One thing's for sure, you'll go back to 3.5 tournaments with a bit more confidence after banging it with the big boys.
All I can say is, if you guys played DII college tennis, you are NOT 3.5's. I am a strong 3.5/ weak 4.0 (I win most of my matches against 3.5's and lose most matches against 4.0's) and I never even played on my high school team. I'm guessing from what you described that either of you would probably beat me pretty good - and I'm a true benchmark 3.5. I'm also suggesting that you are probably closer to 4.5's than 3.5's. This is the kind of stuff that really ticks people off about playing USTA. Also, I did enter an open level tournament once. My doubles partner (also a 3.5) and I ended up playing a couple of 5.5 level teaching pros in the first round. We lost 2 & 2.
Div II players who take 12 years off usually start out at 4.5...or maybe 4.0 if they are out of shape or really out of practice. This is true even if you weren't in top 6 on your college team. Take a look at USTA's "elite player form"; it details the rules for self-rating ex-college players. I suspect you may have already violated USTA rules by self-rating at 3.5. At any rate, time to move up to 4.0, boys. You'll improve quicker if you are challenged.
Former D2 players under the age of 35 are suppose to rate themselves as 4.5 according the experienced players guidelines. Your scores in fact reflect that you are likely only one level below your opponent. A computer rated 3.5 would lose to a 5.0 6-0, 6-0 almost all the time.
I cant stand when people play at a lower level than they are supposed to. I dont know about everywhere else, but most people do it where im from. It's ridiculous. A friend of mine is only concerned with winning, he is obviously a 5.0, but plays 4.5, and besides losing a match or two in districts or nationals, hasnt lost a match (i dont think) in about 3 years!! Im a reasonably good 4.5, and he makes me look silly lol. If I were on the edge of being able to play 5.0s, I would in a heartbeat. Why wouldnt you want to challenge yourself, and become a better tennis player????? If you dont, then I think you should quit.
One of my good friends from my hometown plays DII college tennis and he is only a 3.5. I hate the generalizations about divisions. I play DIII and am a 4.5 and certainly not even close to the top of DIII tennis. As far as the open tournaments go I think it's great you played. We always have a few 3.5's in our open draws and though they may take some beatings it helps them improve faster. In fact I started out my open tournaments with a 3.5 rating.
All college programs are not equal. I know that there are Div 1 schools in the Northeast who have players at the 3.5_4.0 level since they don't give scholarships at these schools. I also know 5.0 players who attend Div 3 colleges so while I agree that people should try to play their level , you need to lay eyes on them to say that they are sandbagging. I lose 1 & 2 at national level 45 + agegroup tournaments as a 3.5, maybe older players are just kinder!
I think we can all agree that somebody who loses 6-2, 7-5 to a "a 5.0, just out of college and looking to play Futures soon" is not a 3.5 level player. A 4.0 player may beat a 3.5 by that much but not somebody who is 3 whole levels higher. Would a player 3 levels below a 4.0 (i.e. a 2.5) ever get 5 games in a set?
Whoa! It seems like I've started a bit of a controversy here. Allow me to clear some things up. I am not a self-rated 3.5, neither is my brother. We are computer rated – and no we don't try to play below our level to try to earn a lower rating. I came back (very out of shape) and played 4.0 two years ago and was bumped down by the computer. Believe me, I was not happy about it, but I figure if they want to rate me a 3.5 fine, I'll play some 3.5 tournaments. Secondly, my brother and I both were not traditional student athletes. We both went back to school as adults and played Div II college tennis. My brother played for one year at 30 years old. I played from two years from age 33 to 35. Incidentally, my first year we had a 38-year-old player on the team who at times played No. 1. Div II did not at the time (and may still not) have an age restriction like Div 1 does. If you were a full-time student in good standing you could play athletics. So now we are both in our mid-40s and getting back into playing. Did anyone stop to think that the guy I played in the first round might be self-rated at 5.0 and maybe he's not actually that level? There's some evidence to this since he was beaten in the second round in spite of being the No. 4 seed. I'm trying to move up in the ranks believe me. I'd like to get to a 5.0 level. At my age it might never happen, but the only way I see to do it is play open tournaments and practice, practice, practice. As long as I'm rated a 3.5 (hopefully not much longer) I'll take advantage and play some of those tournaments. I happen to find some very steady and fit baseliners at that level who give me fits.
Well you were the one who said he was 5.0 and looking to play futures. That was the information you provided. Actually unless you are 5.5 at least I can't imagine why you even comtemplate futures. If he lost in the second round of an open tourney I don't see how he could hope to play futures. Most of the winners of open events realistically don't have a shot at futures other than losing in the early rounds. So you are a 3.5 player who lost to a probable 4.0 player in an open event? I know a computer rated 4.0 that lost just last week to a computer rated 5.0 player 6-0, 6-0 in an open event. According to your point "if you are a strong 3.5 don't shy away from playing some Opens." I guess I don't know if your point is valid. If you draw a weak opponent(for an open event) in the first round of an Open event and you play them close, it may give you a false sense of accomplishment. If you drew a computer rated 5.0 level player you would be lucky to get a single game. If you want a more realistic idea of what it takes to get to the next level- 4.0 in your case, I would just join a 4.0 tourney.
just lookin through this rubbish cuz I am totally bored...but who is this "5.0 looking to play futures" guy? tell me his name and if I know him I will tell you if he is 5.0 or not
I am 3.5, well, I got bumped to 4.0 this year, but still consider myself to be 3.5, until i prove otherwise. I played few open tournaments, against 4.5, or 5.0 player and I could hardly win games. Score were 6-0, 6-1, and that 1 game, i won, was because he just probably felt bad. Even the difference between 3.5 and 4.5 is huge and most matches won't be competitive.
I am a solid 3.5 and have only lost one USTA 3.5 league match this year. Last year I was a 3.5 playing on a 4.0 team. I struggled just to get a couple of games per match against the 4.0 players. Yes, I am in Texas, and there is alot of sandbagging.
I'm curious, do you know any D1 schools in particular playing at that level? So if they join USTA, they would be required to be a minimum of like 5.5 even though they may only be as good as a 3.5? If they suck really bad in the USTA can they be bumped down several levels?
How can I enter into one of these "Opens"? I just started playing tennis about 4 months ago. I started out at 2.5 (K-Swiss) because I had never played organized tennis before. However, I went undefeated and finished with a rating that barred me from playing in the playoffs because I was underrated. Believe me, I wasn't trying to do this. I have always been really athletic and in this league I didn't have much competition at all. I am moving two spots up to 3.0+. (In K-Swiss there's a 3.0- and 3.0+.)
Depending on the tournament, all that is required to enter the Open division is $$ for an entry fee. Good luck.
There should be a local USTA office. You're in Georgia? They probably have tourneys going on all the time. This time of year will probably be slower though. Google Georgia Tennis and see what the returns.
Thanks again. Do you think there are any out there that wouldn't require me to join USTA and pay the $40 membership fee?
If you are athletic, you are supposed to self-rate at 3.0 even if you've never picked up a racquet. The reason being that you will quickly get to the point where you will crush 2.5 players. Why do you want to play open? It will be a waste of money because you will get stomped. You are at best a strong 3.0 after 4 months of playing, unless you have alot of coaching.
I do not care if I get stomped. Experience is what I'm going for. I don't neccessarily have time for joining another league and I don't want to pay for a year's worth of membership fees if I'm not going to join the league that they are offering. Once again, I am VERY new to this and didn't think that I would be able to beat these guys that bad, especially right of the bat...or racquet. Hindsight is 20/20. If I could go back, I would say I'm a 3.0.
My advice would be to go to a local tennis facility, a public one. Ask the pro if there is someone really good you could hit with. A 4.5 ought to do it. You'll see the difference between your game and his pretty quickly. The problem with trying to hit with an Open player is they seldom want to hit with begginers, it's not any fun for them. Matter of fact, hitting with a 4.5 isn't much fun for them either. If you do get a chance and the Open player doesn't hold back, it won't be much fun for you either. The only way to guarantee that you're getting his all is to enter a tournament. If you really want to see how good they are compared to you, enter a tournament that has some prize money. You'll get an eye opener. Some other advice would be: don't go to net. If you're dead set on playing an Open player, you're going to have to join the USTA. If you intend on conintuing in tennis, you're going to have to join anyway. It's not a bad deal, you get Tennis magazine.
So basically, the only "Open" tourneys are offered by USTA? I plan to eventually join but I can't just yet. It's not that I am dead-set on playing an Open player. I want to take part in the excitement that is an Open tournament. I want to test myself because I don't have much competition readily available either. This could be my benchmark. Does that make sense? Don't Opens have prize money? If not, which ones do? Also, would I get a couple face-smashes if I charge the net?
You should play in a NTRP tournament first. There are a ton of them in your area. http://tournaments.usta.com/tournam...&Category=&Surface=&OnlineEntry=&DrawsSheets= Click on the arrow to go to the following months. In Feb. alone there are six or seven NTRP tournaments. You can sign up for a 3.0 or 3.5 level tournament and play with others at your level.
i play 3.5 in texas, and there is sandbagging, BUT almost all of the sandbaggers I saw got bumped by the computer at the end of this year. They all appealed and lost, except for the old guys. maybe tx will get a shakeup. i only know about 3.5 though.
I don't know about Georgia, but around here there are PLENTY of tournaments that do not require USTA membership. If you want to play in a USTA tournament, you have to be a USTA member. However, many cities have tournaments in the summer that are open to anyone. Also, many tennis facilities have tournaments. With some you need to be a member of the facility, but with many others you do not. Often the tournaments are not listed on the Internet. Call the Parks and Rec departments of cities around you. Call public and private tennis facilities around you. Heck, if you're close to Atlanta I'm sure you'd have plenty of tournaments to choose from. Most tournament don't have prize MONEY, but they do have prizes of some sort for the winner. Also, try to find one that has consolation rounds.


text:
uber_driver_sexual_assault_ philadelphia uber_driver_sexual_assault_ philadelphia
- September 2016 (19)
- August 2016 (31)
- July 2016 (6)
- June 2016 (11)
- May 2016 (21)
- Employment Discrimination (191)
- Employment Law (330)
- Hostile Work Environment (117)
- New Jersey Lawyer (448)
- New York City Lawyer (453)
- Philadelphia lawyer (450)
- Sexual Harassment (302)
- Uncategorized (41)
- Wage & Hour Violations (10)
- Wrongful Termination (26)
YouTube Channel → Practice Areas Offices
New Legislation protects Janitors from Sexual Harassment
Janitors express Sexual Harassment Concerns California – The state of California maintains a high volume of janitor employees. An enormous part of those employees are immigrants who work diligently to provide a better life for their families. Although employees attempt to complete their shift comfortably and return home, sexual harassment and sexual assault has become significant issues in the workplace. Sexual harassment can range from sexual joking to criminal sexual conduct. Either way an individual examines the situation, it's morally wrong and illegal in the workplace. Sexual harassment is a form of discrimination, which the U.S. Equal Employment Opportunity Commission… Read more »
Veteran Employee accused of Sexual Harassment Florida – A female radio host, Aprille Hinnant, is suing Cox Media Group for sexual harassment at work. According to the sexual harassment lawsuit filed in a Miami federal court, the plaintiff alleged her supervisor, Maestro Powell, sexually harassed and retaliated against her, which developed a hostile work environment. A hostile work environment includes severe and pervasive sexual harassment that occurs frequently and disrupts an employee's ability to work. In May 2010, Hinnant started working for the radio station, 99 JAMZ, owned by Cox Media Group. The job duties Hinnant fulfilled included co-hosting the… Read more »


text:
Lindsay Lohan and Billy Joel, Both Terrible Drivers, Now Linked Forever
Lindsay Lohan and Billy Joel are both terrible drivers, and now they have one more thing in common. According to TMZ, everyone's favorite Hollywood trainwreck, LiLo, has gotten the lyrics to Billy Joel's "I Go To Extremes" tattooed on her right side, just below her sagging side boob.
Weird, right? Don't know the song off the top of your head? No worries. The Storm Front-era Joel wasn't his best. Actually, we'd all probably be best to just forget it.
This is the song, right here:
LiLo rolled over to her favorite L.A. tattoo shop — Shamrock Tattoos — this week and got the words "Clear as a crystal, sharp as a knife I feel like I'm in the prime of my life" inked on her rib cage. It's unclear if the tattoo shop ran out of ink before they could add the song's chorus, "don't know why I go to extremes, too high or too low, there ain't no inbetweens."
Given LiLo's history, this seems somehow more apropos than some ink about being in the prime of her life, which everyone knows happened around Mean Girls. Check out her ink.
Lindsay got the ink because "it represented where she is in life and everything she's been through … it signifies that she's focused." Right.
Anyway, this isn't necessarily news that anyone should care about. Except that, it strikes us as funny that Lohan got a Billy Joel tattoo. And not the awesome, late '70s coke-fueled Billy Joel either. She went with the boozy, late-80s Billy Joel. At the very least, Lohan should be commended for her unusual and ballsy move.
We just want to know what she has against "River of Dreams?" Or would that be an obvious signal that she was two weeks away from permanently calling it quits on life?
Also, would it be appropriate to suggest that Billy Joel could get the lyrics of a Linsday Lohan song tattooed on his rib cage?
Think about it: "Daughter to father, daughter to father, I'm am crying, a part of me is dying, these are the confession of a broken heart."
That would totally kill on Billy Joel's bicep.


text:
Encyclopedia Astronautica Home - Search - Browse - Alphabetic Index: 0- 1- 2- 3- 4- 5- 6- 7- 8- 9 A- B- C- D- E- F- G- H- I- J- K- L- M- N- O- P- Q- R- S- T- U- V- W- X- Y- Z Resurs-O1
AKA: 11F697; Meteor-Priroda. Status: Operational 1985. First Launch: 1985-10-03. Last Launch: 1998-07-10. Number: 4 . Gross mass: 1,800 kg (3,900 lb). The Ministry of Defense was tasked with developing these systems, even though they did not contribute directly to any military mission. One of these was Resurs-O, which became Meteor-Priroda 3, based on the VNIIEM second generation Meteor bus. The satellite included the Fragment multispectral scanner by IKI NA and a charged-coupled detector by NPO Radiopribor. Meteor-Priroda 3-1 featured a data transmittal rate of 8 mbit/sec. The system was installed experimentally on several Meteor (Resurs-OE) spacecraft for both military and civilian use. The Aist automatic control system was built by 53-NIIP MO. The Resurs-O program, which was analogous to the US Landsat program, became operational in 1985. Designed and manufactured by the All-Union Research Institute for Electromechanics, the Resurs-O1 spacecraft closely resembled the Meteor series of satellites from which they were derived. In fact, the Resurs-O development program utilized two Meteor satellites (Meteor 1-18 and Meteor 1-25) and five Meteor-Priroda vehicles (1977-1983) to perfect the instruments and techniques finally adapted for Resurs-O1. The Meteor-Priroda satellites also marked the first use of sun-synchronous orbits by the USSR. Program management for the Resurs-O effort was originally the responsibility of the State Committee on Hydrometeorology. In 1989 the Planeta NPO was formed under this organization to consolidate the meteorological and remote sensing satellite systems of the USSR. Subsequently, the Planeta NPO, the All-Union Research Institute of Electromechanics, and the Space Instrument Building NPO, which was responsible for many of the payload instruments, formed the Soviet Association for Earth Remote Sensing (SOVZOND) to promote Resurs-O products on a commercial basis. Resurs-O spacecraft were placed into nominal orbits of 630 km and an inclination of 98 degrees. Each mission was conducted to ensure that the spacecraft's descending node would occur between 10:00 and 10:30 am local sun time, thereby providing excellent lighting conditions for the complex sensor suite. The objectives of the Resurs-O program were as follows:
The 30-kg MSU-E employed an electro-optical CCD scanner for high resolution and could be used in pairs to provide a continuous 80-km wide swath. Each unit covered 3 spectral bands between 0.5 to 0.9 micrometers, with a ground swath of 45 km (up to 350 km off-nadir), and a ground resolution of 45 m. The MSU-S covered 2 spectral bands between 0.58 to 1.0 micrometers, with a ground swath of 1380 km and a ground resolution of 240 m. The mechanical MSU-SK scanner weighed 60 kg and combined a lower resolution capability with a much wider swath. It covered 5 spectral bands between 0.5 and 12.6 micrometers, with a ground swath of 600 km. A ground resolution of 170 m was obtained in the four lower bands and 600 m in the 10.4-12.6 micrometer band. The primary data collection and processing stations for Resurs-O were at Moscow, Novosibirsk, and Khabarovsk. The principal data transmission link was at 466.5 Mhz. A standardized small receiving station, utilizing a 2.5 m diameter antenna and the Spektr-DK01 system, was designed for use with both the Okean and Resurs-O spacecraft when the data links were upgraded to the new 8.2 GHz system. Family: Earth, Earth land resource sat, Sun synchronous orbit. Country: Russia. Launch Vehicles: R-7, Vostok 8A92M, Zenit-2. Projects: Resurs. Launch Sites: Baikonur, Baikonur LC31, Baikonur LC45/1. Agency: MOM, VNIIEM. More at: 13017, 13018, 13019. Bibliography: 102, 113, 2, 6.
1985 October 3 - . 05:48 GMT - . Launch Site: Baikonur. Launch Complex: Baikonur LC31. LV Family: R-7. Launch Vehicle: Vostok 8A92M.
1988 April 20 - . 05:48 GMT - . Launch Site: Baikonur. Launch Complex: Baikonur LC31. LV Family: R-7. Launch Vehicle: Vostok 8A92M.
1994 November 4 - . 05:47 GMT - . Launch Site: Baikonur. Launch Complex: Baikonur LC45/1. LV Family: Zenit. Launch Vehicle: Zenit-2.
1998 July 10 - . 06:30 GMT - . Launch Site: Baikonur. Launch Complex: Baikonur LC45/1. LV Family: Zenit. Launch Vehicle: Zenit-2.
Home - Search - Browse - Alphabetic Index: 0- 1- 2- 3- 4- 5- 6- 7- 8- 9 A- B- C- D- E- F- G- H- I- J- K- L- M- N- O- P- Q- R- S- T- U- V- W- X- Y- Z © 1997-2016 Mark Wade - Contact © / Conditions for Use |


text: Dry Up Grease Stains with Plain White ChalkWhitson Gordon5/14/10 3:30pmFiled to: Clever UsesCleaningHouseholdHomeClothesClothing151EditPromoteShare to KinjaToggle Conversation toolsGo to permalink We've showed you how to get out tough stains and even make your own detergent, but oil and grease stains are notorious for lingering after washing. Next time you spill salad dressing on yourself, just rub it with chalk for quick absorption. Photo by sutartpilbrow. Advertisement Advertisement Our friend Sarah Rae Trover over at home improvement weblog Apartment Therapy describes one of her favorite stain-removing tips:Instead of using extra laundry detergent to pre-treat, instead we turn to our old school friend - white chalk. Simply rub onto greasy stains and the chalk powder will absorb the grease, making the stain easily removable by the laundry soap in the wash.It might sound silly, but it's worked wonders for everything from lipstick to bacon grease and even though our laundry area is on prominent display, we still keep it out in case disaster (or in our case, Murphy's Law) strikes!Keeping chalk on hand (or any white, absorbing powder—baking soda or corn starch are popular solutions as well) is a great way to nip these stains in the bud. Just make sure you've got it at the ready at all times, because once that stain sets, no amount of chalk will save you. Got any of your own grease stain-removing tips? Share them with us in the comments.Use Chalk to Rid Your Clothes of Greasy Stains [Apartment Therapy]Reply15 repliesLeave a reply


text:
The idyllic town of Canmore Alberta is settled among the Rocky Mountains along the banks of Bow River, and is conveniently located only one hour west of Calgary and less than five minutes from the Banff National Park.
Canmore is so much more than just a base camp to explore Banff, Lake Louise and Jasper. There are so many things to do in Canmore! The area offers a vibrant downtown community that is practically bursting at the seams with a remarkable variety of restaurants, boutiques and cultural venues. Get the locals' tips and tricks here.
On top of this, Canmore also offers exceptional access to prime recreational mountain space – all within the town's borders!
There are so many things to do in Canmore – the outdoor activity options are endless; with over 71 kilometres of multi-use trails, the world-class Canmore Nordic Centre, five major ski resorts, hiking, climbing, mountain biking, kayaking, canoeing and rafting all at your fingertips, it is unlikely to find yourself without something to see or do.
Hiking is one of the best ways to take in the spectacular surroundings of Canmore and the Canadian Rockies. Here you will have access to some of the best hiking and backpacking trails found anywhere in North America. Breathe in that fresh mountain air as you take in a spectacular mountain views, a variety of pristine lakes, and scenic alpine meadows.
Canmore is also a coveted destination for golf enthusiasts from around the world. Located at high elevations, the golfing season usually begins around mid-May and ends in early October. Whether you are in search of a laid-back round with friends or the challenges of a demanding course, you will surely find what you are looking for at one of Canmore's six world-class golf courses.


text:
Hi, Guest
SANTA MONICA, Calif., Feb. 1, 2012 /PRNewswire via COMTEX/ -- Current GRAMMY® nominee Katy Perry has been added to the stellar lineup for the 54th Annual GRAMMY Awards® ( www.grammy.com ). Country artist Dierks Bentley, rapper/actor and current four-time nominee Drake, GRAMMY winner Miranda Lambert, and Emmy® and Academy Award® winner Gwyneth Paltrow will appear as presenters. Music's Biggest Night® -- hosted by two-time GRAMMY winner LL COOL J -- takes place live on Sunday, Feb. 12 at STAPLES Center in Los Angeles and will be broadcast in high definition and 5.1 surround sound on the CBS Television Network from 8 - 11:30 p.m. (ET/PT). The show also will be supported on radio worldwide via Dial Global, and covered online at GRAMMY.com and CBS.com, and on YouTube at www.youtube.com/thegrammys . Additional performers, presenters and special segments will be announced soon. For GRAMMY coverage, updates and breaking news, please visit The Recording Academy®'s social networks on Twitter and Facebook: www.twitter.com/thegrammys , www.facebook.com/thegrammys .Katy Perry is up for two awards: Record Of The Year and Best Pop Solo Performance for "Firework."Previously announced performers for the 54th Annual GRAMMY Awards include Adele (in her first live performance since undergoing vocal cord surgery last fall); Jason Aldean and Kelly Clarkson; Glen Campbell with The Band Perry and Blake Shelton; Coldplay and Rihanna; Foo Fighters; Bruno Mars; Paul McCartney; Nicki Minaj; and Taylor Swift. Aldean, The Band Perry, Minaj, and Shelton will perform on the GRAMMY telecast for the first time, while Adele, Campbell, Clarkson, Coldplay, Foo Fighters, Mars, McCartney, Perry, Rihanna, and Swift are returning to the GRAMMY stage. LL COOL J has hosted "The GRAMMY Nominations Concert Live!! -- Countdown To Music's Biggest Night" since its inception in December 2008, and this is his first time hosting the annual GRAMMY Awards telecast.The 54th Annual GRAMMY Awards are produced by John Cossette Productions and AEG Ehrlich Ventures for The Recording Academy®. Ken Ehrlich is executive producer, Louis J. Horvitz is director, and David Wild and Ken Ehrlich are the writers.Established in 1957, The Recording Academy is an organization of musicians, producers, engineers and recording professionals that is dedicated to improving the cultural condition and quality of life for music and its makers. Internationally known for the GRAMMY Awards -- the preeminent peer-recognized award for musical excellence and the most credible brand in music -- The Recording Academy is responsible for groundbreaking professional development, cultural enrichment, advocacy, education and human services programs. The Academy continues to focus on its mission of recognizing musical excellence, advocating for the well-being of music makers and ensuring music remains an indelible part of our culture. For more information about The Academy, please visit www.grammy.com . For breaking news and exclusive content, follow @TheGRAMMYs on Twitter, like "The GRAMMYs" on Facebook, and join The GRAMMYs' social communities on YouTube, Tumblr, Foursquare, GetGlue, and Instagram.
for me her best performance till this day was the fruit one!!! that was legendary! so if she's performing, i want something WILD!!!
From November 2010....Rodriguez asked, "What would a Grammy mean to you?" Perry said, "Grammys are like catching shooting stars, so hopefully one day I'll catch one."
fingers crossed for this one she has to win...come oooooooon!!


text:
I bought my last Drive in early February 2011 (after checking carefully to make sure it would work on EPIC/Scarlet(!) ). I'm certain that at that point the Drive page on the RED store was clearly stating 'limited stocks - last few remaining' or words to that effect.
And Brent said...


text:
Although it flickered briefly in recent weeks, "the star" on top of the sandrocks has been restored to its former brightness after several residents called local dispatchers in concern for the holiday landmark.
Jackie Balleck, a dispatcher for nine years, said she received calls from citizens who reported, "We just wanted to let you know the star is out."
Concerned onlookers thought perhaps vandals had played a part.
Balleck knew who to call.
"We just notified John," Balleck said.
John Allen has been involved with the star since the late 1980s, when the Junior Chamber of Commerce set it up each year.
When the JCs folded, the star went out for years, until it was resurrected, again with Allen, this time as a member of the Big Gulch Better Community Club.
Balleck called Allen this year to report the star lost its light. Allen, who worked for Yampa Valley Electric Association for 15 years, said it was an easy fix.
Vandals weren't to blame. It was only a simple electrical problem.
"A ground fault circuit went bad," Allen said. "It probably got water in it and shorted."
Allen has been involved in every phase of the star's life. The frame was built out of aluminum in the shop at Allen's ranch.
And each year, Allen enlists some help to put the star up again.
The star sits atop a telescoping pole that retracts down to 10 or 15 feet tall. Allen and his help affix about 10 strings of Christmas lights to the star and crank the telescoping pole, which lifts the star to its final 30 or 40 foot height.
"It takes five or six people to handle it," Allen said.
Allen likes to put the star up in time for the Parade of Lights. He takes it down after the New Year begins.
The holiday landmark reminds Allen of his days growing up in Arizona.
"In my childhood I remember seeing stars on


text: The Big Bear Discovery Center is looking for volunteers. If you like to work with people and are committed to promoting a healthy forest, orientation starts tomorrow, Tuesday, August 11th at 9am to 11am. Volunteer opportunities range from Information Specialist to naturalist, greeter to Nature Walk coordinator. All training is provided and conducted at the Big Bear Discovery Center on North Shore Drive. For more information contact Yomar Cleary at (909)382-2842.


text:
Casual Dining
Sometimes you don't want to get all dressed up. Hey, you're on vacation! Show your friends or family how easy it is to forage for great eats in great locations with casual dining, no jacket required.
Sort By:
Most Popular A – ZFilter By...
- Ayer X
The Cottage
"Your neighborhood restaurant." Serving pizza, subs, sandwiches, salads, appetizers, ice cream & so much more. You'll taste the quality & love our... more
+ 0 saves


text: Your Amazon Account Might Be Getting Scammed with False Replacement Orders and You Can't Do Anything About ItCasey Chan12/18/12 8:00pmFiled to: HackingScammingAmazonCustomer ServiceSecuritysocial hacking49EditPromoteShare to KinjaToggle Conversation toolsGo to permalink When our dear friend Mat Honan got hacked earlier this year, it was because of gaping security flaws in Apple and Amazon's customer service systems. It hasn't been fixed. Amazon's customer service has another security flaw and it's being exploited to hijack Amazon accounts and snag false replacement orders. And the scammers don't even need to know your account's password. Chris Cardinal, the unlucky guy who had his Amazon account scammed, tells the chilling tale of how he began receiving official e-mails from Amazon about chat sessions he never made with Amazon. What was the person trying to chat with Amazon customer service reps about? Cardinal's Amazon order numbers. Advertisement Advertisement Soon after, Cardinal started receiving e-mails about actual replacement orders being shipped to an address that wasn't his. The scammer got a handle on his Amazon order numbers and got replacements sent to another address. How? It's scary how easy it is.9:22 AM Initial Question: Hi, my old account was hacked, and so was my email. I was wondering if you can help me get my order numbers off that account for warranty issues. Vishnu (CSA) : Hello Chris, my name is Vishnu. I will be happy to help you. Vishnu (CSA) : Before I can view your account I'll need to do a quick security check. Please confirm the complete name and billing address on your account. Vishnu (CSA) : I hope we are still connected. Chris : I'm sorry! I was doing something. My name is Chris Cardinal, my address is . Vishnu (CSA) : Thank you for the information. Vishnu (CSA) : In this case would you like to reset your password. Chris : I don't have time for that right now, could you just help me get the order numbers from November 1st to now? Vishnu (CSA) : Sure, please wait for a minute. Vishnu (CSA) : The orders placed in the moth of November are as follows: Vishnu (CSA) : 104-8XXXXXX-XXXXXXX Vishnu (CSA) : Wednesday, November 7 Vishnu (CSA) : 107-0XXXXXX-XXXXXXX Vishnu (CSA) : Monday, November 12, 2012 Vishnu (CSA) : v Vishnu (CSA) : 109-9XXXXXX-XXXXXXX Vishnu (CSA) : v Vishnu (CSA) : Friday, November 23, 2012 Chris : Is that all? Vishnu (CSA) : Yes, Chris. These orders were placed in the moth of November. Chris : How about December?As you can see, the customer service rep gave out the order numbers with little resistance. And once the scammers got their hand on order numbers, they were able to finagle free replacement orders sent to another address with only a little bit of social engineering (I'm in Oregon right now, can you ship it there?). As secure as Amazon can be, it's clear that the weak point in its security remains in customer service. And as hackers and scammers get savvier with social engineering solutions, they'll continue to exploit the flaw.Read more about the chilling tale at Chris Cardinal's HTMList. It involves a lot of odd e-mailing, talking to CSRs and reverse engineering. Well worth the read. [HTMList]Reply49 repliesLeave a reply


text:
Tech Update
Punch-Laser Combo Engineered to Optimize Throughput
In addition to the reduced transition time, the C1 has been designed with new Y-axis punch- and laser-positioning drive modules that employ digital direct-drive servo motors, eliminating the need for gearboxes. This provides positioning accuracy to ±0.003 in., some 25 percent more accurate than machines that use a gearbox in their Y-axis drives, the company says.
Amada America, Inc.: 877/262-3287; www.amada.com
See also: Amada North America, Inc
Related Enterprise Zones: Fabrication
Reader Comments
There are no comments posted at this time.


text:
Conclusion - Pros
- Good image quality, neutral colour balance, good resolution for a 2 megapixel
- Excellent 10 times optical zoom with optical stabilisation
- Full set of manual controls with good range of aperture and shutter speeds
- Good low light ability
- Low AF and shutter release LAG
- AF assist lamp (which actually works)
- Good flash, no colour cast when using flash
- Good buffering ability, no delay until next shot, display of buffer status
- Ergonomics will be familiar to previous Olympus digital camera owners
- Dual speed zoom control
- Rubber hand grip
- Infrared remote control included
- Rechargeble batteries and charger included (in some countries)
Conclusion - Cons
- Slight chromatic aberrations and long zoom
- Electronic viewfinder still no substitute for a true TTL optical viewfinder
- Some barrel distortion at wide angle
- Some visible noise at ISO 200 or above
- No manual preset white balance
- Weird sharpening options also affect image contrast (tone curve)
- Over aggressive sharpening algorithm
- Options like white balance and ISO should be accessible without going into the menu system
- Plastic cover over LCD needs an anti-reflective coating
- Essentially the same "engine" as the C-2020Z with a few new additions
- Menu system can be confusing and frustrating
- Proprietary flash synch port
- Given 3 megapixels it would have been a real killer
Overall conclusion
Here's my rating of the Olympus C-2100UZ: (2 megapixel prosumer)
Detail | Rating (out of 10) |
Construction | 8 |
Features | 8 |
Image quality | 9 |
Lens / CCD combination | 8 |
Ease of use | 7 |
Value for money | 8 |
If you need a long zoom and aren't bothered by the 2 megapixel sensor then the C-2100UZ is a very logical camera to have near (if not at the) top of your buying list. If you consider what you'd have to do to get 380mm of zoom out of any other digital camera or a digital SLR it's amazing to consider how compact and light the C-2100UZ really is, the lens works well, a hint of chromatics at long zooms is to be expected but on the whole doesn't detract. The image stabilisation works well and definitely gives you a stop or two over what you'd normally be able to handhold.
UPDATED 8/Jan/2001: Following my Pro90 IS review many people pointed out that the price of the C-2100UZ has dropped significantly since it's initial introduction, it can now be found for around US$900 (and even less) online which really does make it a bit of a bargain, therefore I've corrected my value for money rating and upgraded the C-2100UZ to a "Recommended'.
So which one should I buy? A question I get asked several times a day, and I wouldn't like to say. In a new addition to my reviews (after the amount of feedback I normally get) I've added a link to a specific forum in which you can discuss the review or ask me specific questions which I've not answered in these pages.
Want to make
sure you don't miss out on any future reviews?
Sign up for our free weekly newsletter!


text:
Expert Forums
Health Tools
Full Site
Health Tools
Sign in
Type 1
Type 2
General Health
Diet and Fitness
Women's Health
Men's Health
Heart Disease
Heart Rhythm
High Blood Pressure
18 - 24 years old
25 - 34 years old
35+ years old
Mental Health
All Communities
All Conditions
Women's Health
Diet and Fitness
Heart Disease
Mental Health
Devices and Apps
Health Charts
Android Apps
iPhone and iPad Apps
Learn More
Throat and earache
Common Questions and Answers about Throat and earache
my fiancee is suffering from
it is repeating frequently
he says, when he is in office due to airconditioning it becomes more and sometimes due to talking in mobile , im worried about it bcz it is happening frequently now and sometimes fluid also flows frm his ears . plz suggest me how to control it .
Read More
I have also has
sore throat, cough, many have where I live in CA theres almost an epidemic..the waiting rooms are full especially children .I think its environmental allergies caused by the spraying they are doing .
Read More
their getting bigger and spreading to the tonsil, but I dont have a sore
. I do get a
ear pain now
then though. They look kinda funny. They dont seem red nor nothing... they seem for be weirdly formed. Example its not a solid lump.. it looks like it has ravines or craters in it. Its not red or white either. I dont have trouble swallowing or eating. Just feeling like the throat is getting smaller.
Read More
About two days after that I was laying in the bath
my right ear started to bubble
little pain That lasted about 20 hours woke up next morning very little pain and pressure gone.
Read More
i have a really bad sore
where it hurts to swallow
both of my ears ache
is red...what is it??
Read More
That was a week ago. Now I have a sore
on that side, a lump behind my jaw just under the ear
a lump on the side of my throat. I also noticed a few red spots on my uvula. The pain is really severe in my head and ear. Has anybody any idea what might be wrong, it's starting to really worry me now. Thanks in advance.
Read More
At the moment I'm having awful dizziness,just moving my head slightly is really wierd.Since Tuesday I've had
,unusual for me
its just like it is when your jaw locks,eating ,yawning hurts my jaw.No cold or sore throat just generally feel off earache feeling a bit better today but dizziness is horrible.Wondering if its anything to do with the Autonomic Neuropathy caused by the Diabetes.Glad for any suggestions,can't get Docs appointment till next wednesday!
Read More
I have been experiencing an unexplained
for many years now
this year it is affecting the whole right side of my face and jaw area. This year, I can't open my mouth wide and it hurts to chew or bite on my right side. I have been to doctors for it and they insist that nothing is wrong; but pain is wrong.
Read More
There are many nerves which run under the jaw
up the side of the face
the ear,
it is these they try to avoid when removing a thyroid, as it can cause paralysis of the face. So it is very possible you are having pain due to a nerve being pushed or compressed. Good luck!
Read More
But on 6 days after the root canal, towards the end of the Cipro course, I started having a sore
today, I have had a
all day. Is this related to the root canal or just conincidental?
Read More
I woke up with pain in the back of my mouth in my ear, my
in my forehead surrounding my eye. I'm assuming it's either an ear infection or TMJ. I have to move, and I can't lift stuff. I also was suppposed to go grocery shopping today. Now Allan's probably going to have to do it all himself. I don't want him to have to do everything. It's really frustrating.
Read More
Hi, you must be having a
infection, hence the problem with wallowing. Inflammation in the
sinuses can cause inflammation around the Eustachian tube, which is the tube that runs from the back of the nose to the middle ear and is responsible for draining the middle ear of fluid. If there is Eustachian tube dysfunction from nose or sinus inflammation, fluid can remain in the middle ear which can lead to dizziness.
Read More
Kiddo, you need to go see your family physician
possibly be referred to an ear, nose
doctor. Your ears are not supposed to hurt when you eat. You can't be diagnosed without being seen. Make an appointment with your doctor!!
Read More
You MUST go to an ear nose
ENT doctor. Your gp may have checked your ears
they were okay, but an ENT is an expert in what's going on with your earaches and probably blocked sinus cavities.
Read More
It has been more than a month since I noticed that my submandibular gland began to swell
slight pain began. I went to the ER
they gave me 10 days of amoxicillen
said that my throat looked slightly red. However, I have taken all of the medication, the redness was gone within a couple of days, but now the pain has worsened, even to the point of causing a burning in my jaw by my ear, as it does if I laugh when I have something sour in my mouth.
Read More
At first, I thought it was an earache accompanied by vertigo. I had never had an
I thought it may have been due to using earplugs at work. (At the time, I had been working at a concert venue for three years and I used earplugs during most of the shows that I had worked.) I believed that I may have gotten an ear infection/earache due to the earplugs...
Read More
I should be referred to an Ear Nose
Specialist, meantime, how do I treat my sinusitis symptoms
at home while I wait tp be referred. I have been suffering with this condition since August.
Read More
Today I did a posterior flexible Rhinoscopy,
the doctor said he has looked at everything
I have just some white secretion in
. He recomanded to me a nasal spray with cortison.The pain is intermitent in the right superior farinx ,sometime during or after meals,but not just and now I feel that the pain just reflects towards the right earache and it is not from the ear. Another ENT doctor said me(by phone) that could be maybe some faringian muscle.
Read More
As well, you had an upper respiratory tract infection I presume, because of which you are having ear ache and the
pain. You can definitely wait
watch for the progression of the lesion. Once you have done your insurance get an ultrasound of the neck done to rule out ectopic thyroid tissue. Drink plenty of warm water, avoid chilled items, do some steam inhalations. Any more doubts you are welcome.
Read More
A week later and I am stricken with probably the worst sore
of my life. I went to the doctor today
she did a strep test and it came back negative so what I have is viral. I'm concerned that this could be related to an STD but how would I know? What are the signs? I do not have any lesions or bumps in or around my mouth. My symptoms are a slight redness in my throat, sharp pain when I swallow that resonates in my ears. I also have a low grade fever.
Read More
I have just recently recovered from a sore
cough which my doctor just passed as a viral infection. Now I have just been left with a chesty cough which is what usually happens after a cold. However, this morning I woke up with a severe headache at the front and side of my head, and it hurts whenever i move or get up, it's so bad it only seems to go away when I close my eyes or go to sleep. I also get a slight earache and my left ear feels blocked.
Read More
I suffered from strange daily headaches for nearly a year before being diagnosed
treated for TMJ. Given the close relationship between the jaw
your son's symptoms with opening his mouth, it may be worth investgating. The other thing that comes to mind when I read your posting are migraine headaches, mainly due to the blurry vision. They are rare but not unheard of in boys.
Read More
A couple days ago (since my doctor put me on Prilosec) I also started having similar symptoms in my neck
that sometime come with an
. Again, I do not feel any swelling. Does this sound like lymphoma or leukemia. My doctor seemed to think it was simply heartburn (hence the reason he prescribed me Prilosec), and he didn't even bother to check my armpits. I'm going to another doctor next week when I get back from break (I'm currently home from college).
Read More
A few months ago, I went to the doctor with a very sore
severe congestion. Strep test came back negative, and I have already had mono before. Assuming it was a sinus infection, they prescribed amoxicillin, and that took care of the symptoms in under a week. About two weeks after being off of the amoxicillin, the symptoms began to return. I went back to the doctor and the prescribed some different antibiotic, which again, worked fine.
Read More
//www.webgerd.com/SelfHelp.htm Excerpts: "DIETARY MODIFICATIONS The main offending foods to avoid in typical American diet are outlined below. We have also provided a detailed food list for patients who remain symptomatic in spite of following this outline. ...................... LIFESTYLE MODIFICATIONS Elevate the head of your bed at least six inches by putting a couple of bricks or old books under the top legs of your mattress frame.
Read More
Pain remained and started spreading through my entire face up to hairline down to jawbone including left ear
neck on right side is swollen,
is so swollen, uvula is swollen and pushed over to left side of throat. Pain in face is almost unbearable. Called doctor who called in a prescription for erythromycin (Z-Pac). I have now taken 2 days worth. Pain is now more bearable, but is still in entire face. Throat and neck swelling has not gone down.
Read More
and after a day i started feeling fullness in my right ear , sharp earaches
swelling in the neck area behind ear
sides... the
doesn't go away even after taking motrin... cud it b an ear infection... or TMJ or swollen lymph nodes... its a long weekend and have to wait to schedule an appointment..any guess on these symptoms...please help...
Read More
Related Links (10)
Throat infection earache
Throat and earache
Throat problems children
Throat pain in dogs
Throat cancer types
Throat infection blood
Throat infection headache
Throat pain yelling
Throat problems lump in throat
Throat pain laryngitis


text:
- Airline Needs
- Connect
- Distribute through Amadeus TA community
- Travel Audience Digital Advertising
- Amadeus Metasearch
- Amadeus Metabooking
- Travel Audience Meta Connect
- Amadeus Electronic Ticketing
- Amadeus Interactive Sell
- Amadeus Electronic Ticketing Direct
- Amadeus Electronic Ticketing for LCCs
- Amadeus Ticketless Access
- Amadeus PNR Claim
- Numeric Availability
- Amadeus Operational Flight Information
- Amadeus EMD Server
- Integrate other travel provider content
- Distribute through Amadeus TA community
- Serve
- Sell to travellers
- Differentiate your offer
- Enhance customer experience
- Amadeus Interactive Advance Seat Reservation
- Amadeus Interactive Seat Map
- Frequent Flyer
- Amadeus Award Suite
- Amadeus Altéa Compensation Management
- Amadeus Customer Service Centre
- Amadeus Altéa Interactive Awards
- Amadeus Customer Experience Management
- Amadeus Altéa Departure Control - Customer Management
- Amadeus Altéa Self-Service solutions
- Amadeus Loyalty Management
- Amadeus Loyalty Partner Management Services
- Amadeus Altéa Corporate Recognition
- Manage
- Optimisation
- Amadeus Carrier Preferred Display Management
- Amadeus Dynamic Availability
- Amadeus Journey Data
- Point of Commencement
- Altéa Network Revenue Management
- Altéa Segment Revenue Management
- Amadeus Altéa Group Manager
- Altéa Revenue Availability with Active Valuation
- Amadeus Airline Cloud Availability
- Amadeus Airline Ancillary Services
- Amadeus EMD Server
- Amadeus Altéa Inventory
- Amadeus Ticketing Platform
- Amadeus Fares & Pricing Engine
- Amadeus Passenger Recovery
- Amadeus Dynamic Pricing
- Amadeus SkyCAST by Optym
- Amadeus SkyMAX by Optym
- Amadeus SkyPLAN by Optym
- Amadeus SkySYM by Optym
- Amadeus SkyWORKS by Optym
- Payment and revenue protection
- Amadeus Payment Manager Module option
- Amadeus Availability Management Advanced
- Card Capture
- Essential Card Authorisation
- Premium Card Authorisation
- Amadeus Married Segment Control
- Amadeus Airline Service Fees
- Fraud Management
- Amadeus Name Change Controller
- Altéa Booking Intelligence
- Amadeus Currency Converter
- Amadeus Alternative Methods of Payment
- Amadeus Payment Capture & Amadeus Payment Refund
- Amadeus Bank Settlement Reconciliation
- Amadeus Revenue Integrity
- Amadeus Payment Authorisation
- Amadeus Revenue Accounting
- Airline Insight
- Efficiency management
- Optimisation
- Connect
Amadeus Interactive Seat Map
- Personalise the seat map dynamically through customer data, using Frequent Flyer information for example.
- Enhance customer service by providing them with seat choices based on accurate, real-time availability.
- Real-time seat map service to the distribution network for all seat types, including chargeable seat products.
- Used in conjunction with Ancillary Services, the price of the seat can be displayed in the seat map.
Browse By Airline Needs
Amadeus helps you connect to the travel ecosystem where all your partners can come together to do business. With access to our community of travel agents and other travel players, you can discover new revenue streams for your airline.
Amadeus helps you anticipate your customers' needs and use advanced merchandising techniques to propose personalised products and services which will boost passenger spend and drive ongoing loyalty.
Amadeus offers sophisticated solutions that help you save costs and generate increased revenues. Our products and services empower, optimise and enforce your business processes, procedures and reporting, allowing you to grow your business profitably.
Browse By Airline Systems
Digital and Direct Retailing Systems
The Amadeus Digital and Direct Retailing Systems provide airlines with call centre, city/airport ticket office and digital solutions for all their direct channels. Future plans include more advanced retailing, multi-device support (web, tablets, mobile), XML capabilities and improved personalisation.
Global Distribution and Indirect Retailing
Deploy your airline's distribution and merchandising strategies through the world's largest travel network to maximise revenue generation opportunities. Access new markets, partners and technology, to personalise and differentiate your airline's offer and deliver a consistent shopping experience.
Global Merchandising System
The Amadeus Global Merchandising System allows airlines to pursue advanced merchandising techniques, including personalisation, dynamic pricing and packaging. The merchandising system can be integrated into the Altéa Suite or is available in standalone mode.
Travel Intelligence and Personalisation Systems
Amadeus Travel Intelligence provides each airline with actionable and unique business insights which can be fed into the Amadeus Personalisation system, in order to deliver a customised and contextualised passenger experience across the entire journey.
Airline Core Systems
The Amadeus Airline Core Systems are at the heart of any airline's commercial operations. They are made up of the Altéa PSS Suite, combined with revenue management and financial solutions.