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The Depression came to be as a function of "the lack of honor of men in high places."
-Franklin D. Roosevelt, at the DNC in 1932
In his famous Democratic National Convention speech that was ironically held in Chicago, Roosevelt also described these "men in high places" as "crooks"… and I guess that makes sense, because that's what they were. I'd like to say that sometimes Wall Street's narrative fallacy leads people to believe that everything that happens in this business is on the up and up… but, unfortunately, I have to say that most of the time it is not. It's all about storytelling.
Our head of compliance, Moshe Silver, who joined Research Edge LLC after working with me at Carlyle's hedge fund submitted the following observation: "We recognize that market manipulation is not an exact science. That being said, there are people out there who are recognized pros, and it would have made more sense to bring them in – the same line of reasoning that led FDR to appoint Joseph Kennedy to head the newly-created SEC. We'd have been much more comfortable with Ace Greenberg or Jimmy Caine. Or, for that matter, Mike Milken or John Guttfreund, on the premise of Been There, Stole That…"
Moshe was expanding upon my 'Weekend Edge' "Quote of the Week" that 'You Tubed', Paulson's "yes man", Neel Kashkari, for saying "we're not day traders, and we're not looking for a return tomorrow." Poor Paulson and his junior banker from Goldman (Kashkari) have t-minus a few weeks left until we get them off of team USA and back into the unemployment line where they belong. They've already lost almost $9B, or one-third of the value, of the "preferred investments" they've made in their favorite cronies banking schemes. Clearly, they weren't proactively managing risk or "looking for a return" – we could have paid for this ridiculous big auto bailout with their trading losses.
These aren't the only sell side bankers who have a hard time making money on the downside of the cycle. This week, we'll have both Goldman Sachs and Morgan Stanley report their version of the numbers. "Ex" everything, be certain that there will be some serious storytelling on these conference calls. After putting an "outperform" on it somewhere close to $175/share in July, Goldman's depleting research department is downgrading Apple this morning at $98/share. They apparently did some "channel checking" and set the table for their public parent's finger pointing session on Tuesday – I'll bet you a "Made-Off" buck that GS gets on that call and blames "the slowdown in the economy"… what's a made up bet on a made up story with a made up buck anyway? Let's roll the bones and lever up some bets!
Anyone can sit down in their year-end review and make things up. That's what Wall Street does. Not all bankers are in on it – but Bruce Wasserstein knows a thing or two about banking, and he said that "accounting has now become an exercise in creative fiction… saying assets are worth a lot doesn't make them worth a lot." I think he was alluding to Steve Schwarzman's argument for "marked to model" pricing of private equity investments, but heh, who's keeping track of this stuff.
It wasn't hard to keep track of how many shoes that Iraqi reporter gunned at ole Bushy's head this weekend – both! If this wasn't a metaphor for the bottom of the barrel of 'You Tubing' global confidence in the departing leadership of America, I don't know what is. Between "Made-Off", Bush, and Kashkari, I don't think confidence in the American financial system can get worse. This is a very good thing.
Good thing? Yessir – very good. Stock market confidence isn't built on nominal expectations – it's built on what happens on the margin, relative to those expectations. Friday's 500 basis point intraday rally from the thralls of the "made-up" Madoff lows was a significant one on this score. The ingenious bears who are figuring out things in the global economy are bad can choose to ignore it at their own risk. China just printed their slowest monthly Industrial Production growth number in a decade, and the Chinese stock market closed UP on the day. Markets don't trade on yesterday's news – they are leading indicators for tomorrow, and they don't make stuff up!
In the USA, Friday's University of Michigan consumer confidence report had me put up a note on the portal titled "Has American Confidence Bottomed" (see www.researchedgellc.com, under the North America tab). This report rhymed with the American confidence poll for the President elect moving to greater than 70%. You can call Obama "too young", but he's at least a good decade older than who Paulson, in his poor judgment, appointed to head up America's "Financial Stability" program. Since Wall Street loves to compare performance on a relative basis, Obama and his team of Volcker and Summers are grey beards!
I am not into grey. I am more of a black and white guy, and as sure as I ran that NFL Sunday ball up the middle with our newly initiated long USA stock positioning on Friday morning is right back to where I am sitting here for you today.
I am here to stand on our investment process and be held accountable. There are many men and women "of honor" looking to lead in The New Reality, so let's get the storytellers out the door and get on with it. I have an immediate term upside target for the SP500 of 916. And no, that number wasn't just "Made-Up."
Best of luck out there today,
Long ETFs
SPY-S&P 500 Depository Receipts – CME front month contracts traded as low as 876.4 this morning before 7AM.
DIA –DIAMONDS Trust Series –CBOT front month contract traded as high as 8,756 early this morning before pulling back.
XLV Health Care Select Sector SPDR – Bristol-Myers Squibb (XLV: 4.07%) and Sanofi- Aventis won an appeals court ruling vs. Apotex to block generic competition to the blood-thinner Plavix in the U.S. until 2011.
OIL iPath ETN Crude Oil –Front month NYMEX light sweet contracts traded as high as 49 before 7AM this morning as the market reacted to comments regarding production cuts from OPEC Secretary-General El-Badri before the meeting scheduled in Oran this Wednesday.
EWG – iShares Germany – The DAX is trading up this morning 1.72% to 4743.42, a gained for the first time in three days as European Union regulators approved the country's revised bank-rescue plan and on expectations for a swift US bailout for carmakers. Arcandor AG, the German retailer that controls tour operator Thomas Cook Group Plc, posted an annual net loss of €745.7 million ($1 billion), or €3.35 a share, in the year through September.
EWH –iShares Hong Kong –The Hang Seng closed up 288.56, or 1.96%, to 15046.95.
FXI –iShares China – China's industrial production grew at the weakest pace in almost a decade as export growth totaled 5.4% in November Y/Y as compared to 8.2% in October. CSI300 closed this morning up just slightly to 1975.03, or 0.75%.
Short ETFs
FXY – CurrencyShares Japanese Yen Trust –The Yen fell slightly to 90.9230 against the USD.
IFN The India Fund—India's rupee rebounded more than 5% from a record low touched on Dec. 2 on speculation the US will bail out its automakers. India's 10-year bonds rose for a sixth day, pushing yields to the lowest level since September 2004, on speculation the central bank will cut borrowing costs as economic growth and inflation slow.
Yeah, business stinks – we all know that. But it's times like these that separate the winners from the losers. Let's take a quick look at the standouts over the past quarter in managing inventories relative to sales. You don't need to be a retail genius to know that a lean sales/inventory spread (sales growth > inventory growth) sets up for a positive gross margin event in 4Q – well needed in this climate. Lululemon, UnderArmour, Liz Claiborne, Timberland and Ralph Lauren are my favorites in that context. On the flip side, watch out for expectations to be in synch for names like Abercrombie, Volcom, Skechers, J Crew, DSW and Brown Shoe.
- Jack Bogle, Founder of Vanguard Group
"Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws."
Since we are located on the fringe of Yale's campus in New Haven, CT, the Yale Daily News ("YDN") tends to be one of the many daily newspapers our research team reads every week. It is the United States' oldest college daily newspaper (although the Harvard Crimson disputes that claim) and has been the starting place for many successful journalistic careers, including Henry Luce, William F. Buckley, John Hersey, Pete Axthelm, and Dana Millbank, to name a few. From our perspective, it is worth reading because it offers a view into the current mindset of college students.
On December 4th, 2008, we picked up a copy of the YDN and a headline on the front page article read, "A Job on Wall Street: Are you Crazy?" The insinuation being that not only were jobs tougher to come by on Wall Street, but, and not surprisingly, the allure of such jobs had faded meaningfully. This was reinforced by a recent talk Keith gave to a group of students who were emphatic in their disdain for finance and the said "leaders" that run these major financial and investment banking firms. Smart, motivated graduating seniors want to be proud of their emerging careers and that pride begins with picking an industry that has integrity and respect.
The events last week relating to the fraud of Bernie Madoff's hedge funds obviously even further tarnish the financial industry. We discussed Madoff this week on our portal, so won't rehash the facts again, but the extent of the fraud is breathtaking and is estimated, in some reports, at over $50 billion. Ironically, while Madoff was not a household name, both he and his firm were considered long time leaders in the financial industry.
As a slight digression, not everyone bought into Madoff's returns. We reread a May 2001 article from Mar/Hedge this weekend , which was entitled, "Madoff tops charts; skeptics ask how". This is a major publication in the hedge fund industry and a must read for anyone allocating capital to hedge funds. According to the article, from June 1989 to February 2001 "it (Madoff's fund) would rank as the best performing fund for the period on a risk adjusted basis, with a Sharpe ratio of 3.4 and a standard deviation of 3.0%." The returns appeared to be too good to be true, and were.
As I reflected on Madoff this weekend (admittedly, many of the details are yet to come), I found it incredibly difficult to understand how a man could live his entire life under such a fraudulent scheme. Not only did he cheat his friends, close associates, but, ultimately, his own sons turned him in. In my mind, it would be better to be destitute and unknown than to live an entire life based on a lie, but, of course, Madoff thought otherwise.
The unfortunate implications of the Madoff fraud are that confidence in the "old boy" financial services industry will deteriorate further. While mistrust in the leadership of the industry is certainly well founded, I do think it is important for us to value the Madoff situation appropriately as his actions appear be an outlier, even for a terribly conflicted and compromised industry. While reading this morning, I a read article online by psychologist Juliann Mitchell about sociopaths and she wrote:
"It is typical for sociopaths to engage in illegal or deceitful behaviors. Compulsive lying is the norm. Guilt and remorse are not in their vocabulary. All sociopaths are incapable of feeling sorrow or sadness for their wrongdoings and destructive behaviors. Any tears you might see are for themselves. "I am crying because I got caught, not because I am sorry for anything I have said or done."
Madoff was clearly a sociopath and, therefore, in a league of his own.
As the Madoff scandal and the failed leadership of Investment Banking Inc. are leading to a crisis of confidence in the financial industry and creating real doubts by our leaders of tomorrow, it becomes even more important to highlight that there are many great leaders in finance. These are people that have built long and successful careers on the pillars of integrity, transparency, and trust. One such person is Jack Bogle, the founder of the Vanguard Group.
John Clifton "Jack" Bogle was born on May 8, 1929 in Verona, New Jersey. Bogle went to Princeton University and while at Princeton happened upon an article in Fortune about the emerging mutual fund industry. Eager to write a thesis about a topic that had not been widely studied, Bogle wrote a successful thesis about the industry and was awarded with a job at Wellington Management, where he worked for the next 23 years and ultimately became CEO. Bogle left Wellington in 1973 and founded Vanguard in 1974.
The rest, as they say, is history. Vanguard today manages over $1.3 trillion and is the largest pure no-load mutual fund company in the world.
In a 2003 speech at the Harvard Club of Boston, Bogle said:
"The extensive study of the industry (in his 1951 senior thesis at Princeton) that followed led me to four conclusions: One, that mutual funds should be managed in the most "efficient, honest, and economical way possible: and that fund sales charges and management should be reduced. Two, mutual funds should not lead the public to the "expectation of miracles from management," since funds could "make no claim to superiority over the (unmanaged) market averages." Three, that the "principal function (of funds) is the management of their investment portfolios" – the trusteeship of investor assets-focusing on the performance of the corporation . . . (not on) the short-term public appraisal of the value of the share (of stock)." And four, that "the prime responsibility" of funds "must be to their shareholders", to serve the individual investor and the institutional investor alike."
These are fairly basic principles that embody transparency, accountability, and putting the client first. Bogle developed these principles as a senior at Princeton over 50 years ago and has managed his businesses based on them ever since.
The quotes from Plato and Bogle at the start are meant to emphasize two points. First, capitalism and the pursuit of profits can very much be a noble endeavor. Secondly, bad people exist and they will find ways around our laws. Careers like Bogle's tell me one thing, incredible profits and success can be found within the framework ethical conduct and, in fact, and a long term legacy is almost impossible without that ethical foundation. We need to encourage our leaders of tomorrow to study the careers of people like Bogle, so they will realize that there is much to be proud of in the investment management industry.
Biographer Richard Slater described Bogle's life as "evolutionary, iconoclastic and uncompromisingly committed to the founding principles of putting the interests of the investor first . . ." There is clearly a vacuum of leadership in the financial and money management industry at the moment. While the lack of credible role models justifiably concerns the leaders of tomorrow, this leadership vacuum will also create opportunities for people to lead themselves, to define "The New Reality", and to aspire to become the next generation's Jack Bogles.
Daryl G. Jones
Managing Director
111 Whitney Avenue
New Haven, CT 06
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This impasse between Ukraine and Russia is nothing new, yet there are multiple contributing factors that make Ukraine an important country in our global macro dialogue, including: (1.) the geographic significance of a major Russian gas pipeline running through the country that services Europe, (2.) the politically divided Ukraine with recent signs of EU-centric orientation, and (3.) heightened policy between "The West" and Russia, including measures by the European community to reduce its dependence on Russian energy.
Ukraine's geographic location is an important one that plays into its geopolitical influence. It's situated with Belarus to the north as a strategic land buffer between Russia and Europe. While increasingly more pipelines are being built to service oil and gas from Russia and the Caucasus to Europe that don't directly cross Ukrainian or Bulgarian territory (e.g. under the Black and Baltic Seas), currently the Russian pipeline Druzhba (or "Friendship") running across Ukraine services 80% of the gas the EU receives from Russia. This is a considerable number, especially with context—Russia exports about a quarter of the EU's gas.
For years, Ukraine enjoyed cheap gas prices as part of the Soviet legacy. That changed in 2005 when Ukraine decided to switch to market prices for transit through the country. Gazprom, the largest extractor of natural gas in the world, was all too happy to accommodate Ukraine and consequently drove up the price of gas. Ukraine's first refusal to pay higher prices resulted in Gazprom shutting off supply on January 1, 2006. Hoping to circumvent the action, Kiev decided to siphon off gas from the pipeline, which resulted in the disruption of gas deliveries to Europe.
At the end of October 2008, Gazprom and Ukraine's state-controlled Naftogaz Ukrainy signed a long-term agreement for direct gas supplies from Russia to Ukraine with the abolishment of the intermediary company RosUkrEnergo, which is 50% owned by Gazprom. While the agreement did not set out the volumes of gas Ukraine would buy from Gazprom in 2009 and beyond, nor a price or pricing mechanism, the signing of the deal was seen as a positive step in Ukrainian-Russian relations. Yet this relationship has soured in recent months due to Ukraine's failure (or as some see it inability) to pay off its debt of $2.4 billion in gas back payments to Gazprom on behalf of RosUkrEnergo.
Now that the holiday season and colder temperatures have arrived, observers speculate that Gazprom may have another stand-off with Ukraine, which could have repercussions in European supply.
It is Ukraine's geographic location that makes it of such political importance for both the European Union (The West) and Russia (The East). Ukraine's political trend-line has been gradually changing towards a pro-EU orientation, with pro-Western parties and coalitions coming to power, as demonstrated by the victory of President Viktor Yushchenko's Orange Revolution five years ago. Yet still, observers struggle to qualify the "democratic" nature of the country's leadership. After entering office, President Yushchenko banned Ukrainian cable companies from showing Russia's Channel One to limit the Kremlin's voice, demanded Ukrainian language instruction from kindergarten to university level, and instituted a remembrance holiday to acknowledge the genocide of Ukrainians by Russian commissars during the famines in the 1930s. Such measures didn't go over so well with all Ukrainians, for a larger percentage of eastern Ukrainians still strongly identify with Russia.
Both the EU and Russia have made attempts to reign in on Ukraine. While Russia has exercised its influence through leveraging its energy price, the EU has made a number of concerted efforts. Just last week NATO foreign ministers met in Brussels to discuss whether Ukraine and Georgia should be allowed into the military alliance. Ultimately Western Europeans, led by Germany and France, blocked US efforts to offer Ukraine and Georgia membership, yet the discussion furthered the debate to recognize Ukraine as a "Western" country.
In another EU gesture to extend its hand to Ukraine, European Commission President Jose Manuel Barroso unveiled an Eastern Partnership package last week to give Ukraine and five other former Soviet states access to €350 million of financial aid, free-trade pacts, and hassle-free visas. In addition Ukraine has already received more than a quarter of the $16.4 billion rescue loan from the IMF. This comes at a time when its currency, the hryvnia, has deeply devalued to historic lows against the dollar.
Russia, on the other hand, has done little to repair its reputation with Ukraine. Ukraine officially denounced Russia's invasion of Georgia. In fact its aggression further confirmed to many Ukrainians that when it comes to political and economic issues, they trust Europe more. Even the politically significant balance of power between Washington and Moscow over such controversial issues as the US proposed missile defense shield in Poland and the Czech Republic has Ukraine leaning westward.
Yet the icing on the cake to disrupt the political significance of Russia may result solely from its oil-levered economy. Oil prices from a high of $147/barrel in July are down 70% today. Further, the EU is taking steps to limit its dependence on energy imports, including gas. In November, the European Commission convened and came up with The New Energy Policy, a plan by 2020 to reduce carbon dioxide emissions and total demand for energy by 20% and to increase the share of renewable energy sources.
While the plan didn't explicitly aimed to reduce the EU's dependence on energy sources from Russia, the implication was understood. Irrespective of the EU's ability to meet The New Energy Policy, Russia's bottom line will be affected. Investment is already being made by many European countries in liquefied natural gas (LNG) facilities that would allow gas to be transported via ship. LNG benefits would include the ability to store reserves for times of shortage, and rely on the world's natural gas reserves rather than solely Russia's.
While the European Union is not ready to extend membership to Ukraine, it has taken numerous measures to placate the country. With oil's global demand destruction, Russia's energy "authority" will be vulnerable, especially if the EU becomes less dependent on Russia for its supply. Ukraine remains an important country that can tip the East-West balance of powers. We'll be following this global macro event as it plays out.
Matthew Hedrick
Last weekend we highlighted the trend is gas prices as a potential stimulant to consumer spending or at least the trend might be less bad in the coming months……
I guess it should not come as surprise that confidence among U.S. consumers improved this month from the lowest level in 28 years. The University of Michigan index reportedly reflected a record drop in gasoline prices that gave temporary relief to household budgets.
The average price for a gallon of gas now stands at $1.69, 60% below the peak set in July 2008. Next to Financials, Consumer Discretionary stocks are the most heavily shorted stocks in the S&P 500. Next to Energy, Consumer Discretionary stocks are trading at the lowest valuations of any S&P 500 sector. Short covering rally?
I like continue to think there is some tremendous value in the oversold Casual Dining sector – think EAT and DRI.
Auto Da Fe
You've got to be very careful if you don't know where you're going, because you might not get there.
- Yogi Berra
The discussion in Washington about the automobile bail-out is a watershed moment in America's economic discourse. Notably absent from the debate has been the affirmation that Government is inherently wasteful, while private industry is by nature ruthlessly efficient. Rather, we are witnessing the spectacle of Big Government excoriating both Big Business and Big Labor for being inexcusably inefficient. As of this writing, it appears that the Paragon of Government Inefficacy is in league with the Poster Boy for Toxic Industrial Wastefulness – President Bush and GM CEO Wagoner are apparently spending quality time on the phone discussing the details of their forthcoming deal.
Congress has shown itself surprisingly resolute in turning down a request that looked to us all quid and very little quo. It appears that President Bush will issue an eleventh hour and fifty-ninth minute Presidential Pardon to Motown. How will We The People pay for this? Will Ben Bernanke file an extraordinary issue of Fed debt and toss the proceeds to the automotive industry? As hinted at by SEC Chairman Cox ("We Need a Bailout Exit Strategy", WSJ, December 11), bailing out private industry will require a downstream market for the newly-issued paper. Watch out, China, it looks like we may be getting ready to double park in your spot.
Our story so far: the automotive industry has suffered from a national lack of political will, inability to gauge public sentiment, and an ongoing excess of greed that challenges Wall Street. Its labor-management cabal has viciously and systematically dismembered the Goose the Laid the Golden Egg, all while doggedly refusing to structure their operations to fit reality. We do not weep that they have come awfully close to being collectively thrown under a bus of their own manufacture.
While we wait for the next act, it appears that the argument for Capitalist Efficiency versus Government Waste is dead. The most Businesslike player in this story emerges as Republican Senator Bob Corker, who said: I'll give you quid, you give me quo. This process, as described by economist Nouriel Roubini, entails combining a Bail-Out (government pushing money in) with a Bail-In (creditors, and stakeholders such as the Union, taking payment in kind), all in the common interest of sustaining this major industry. Can it really be that this deal collapsed because special interests refused to admit that they are no longer so special?
Our Big Question: Why have the shareholders of Ford and GM not already paraded their boards of directors through the public square in an Auto Da Fe – barefoot and in hair shirts, wearing signs on their chests with their sins writ large as they march to the scaffold? Boards of Directors of public companies have an obligation not merely to the shareholders, but to the market. Perhaps the argument should be made from orders of magnitude, and we will not suggest where to draw the line, but clearly the Directors of General Motors exercise a public trust vis-à-vis the marketplace.
Underpinning the self image of American Capitalism is the notion of a Meritocracy. Americans believe that people attain success because they are smarter and more diligent than the rest of us. The Horatio Alger hero remains the paradigm of American success. Falling asleep at the switch is the definition of malfeasance by corporate directors. How can it be that there are not already trillions of dollars of lawsuits filed against these failed protectors of the shareholders?
The Wall Street Journal (Friday, December 12, page A2) reports the Bush Administration has redrafted the Endangered-Species regulations "to reduce the input of federal scientists". Shades of the Creationist Administrator who prohibited NASA scientists from issuing their research conclusions. With the Bush Administration barring scientists from introducing their findings into the debate surrounding regulation on scientific topics, the current disarray in the TARP and Auto Bailout programs should come as no surprise.
It is easier to live within an income than without one.
- Alfred E. Neuman
The Friday print edition of the Financial Times comes with a fat glossy insert titled "Financial Times – How to Spend It". The magazine urges us to spend large sums of money on luxury goods, to keep the spending engine primed. The rest of the world may be suffering, but we don't have to suffer along with them. And if we don't spend it here, the Chinese will get their hands on it. We are not making this up.
This week's cover features the Indian Motorcycle Company's new flagship model, the Indian Chief. We salute the ninja marketer that is promoting the ultimate in Ultimate Road-Driving Freedom Machines at the moment when American road-driving culture is in the process of committing ritual suicide – who says Detroit has learned nothing from the Japanese? This whole publication is an exercise in blatant consumption that is not merely conspicuous, but conspicuously excessive. The Prophet Jeremiah might call this Turning Desperately to Pleasures of the Flesh on the Cusp of Doom. Ayn Rand might call this Those Who Have Owe No Apology to Those Who Have Not – Go And Get Some For Yourself. Thucydides might call this: The Powerful Do What They Will, The Weak Do What They Must.
Our advice: spend recklessly, wisely. Life-styles in the mirror are more costly than they appear.
It is a mistake to think businessmen are more immoral than politicians.
- John Maynard Keynes
It appears that Bernard Madoff, head of the financial firm that bears his name, has spent most of his career producing nothing. Like the Old Testament unfortunate Onan, he threshed within, yet winnowed without, and spilled his seed upon the ground. Alas, the Wicked shall not prosper – Selah!
Our recollection of Bernie is of a middle-aged man – avuncular, yet with an edge. Part of his charm was that Madoff & Co. was a family business. Bernie had one heck of a business model, paying us to execute trades through him. The executing broker got paid, Bernie got paid, we got paid – clearly, Bernie was a genius. And Wall Street loves its geniuses. We can only speculate that Bernie could not countenance no longer seeing himself as a genius. Taking losses is financially costly. Being a Loser is unacceptable.
On Black Thursday – October 24, 1929 – Richard Whitney, Vice President of the New York Stock Exchange, made his famous Walk Across the Floor at 1:30 in the afternoon. The Dow Jones Industrials had tumbled from 305 down to 272, and everyone agreed Something Had To Be Done. Stopping at the post where US Steel traded, Whitney announced in a loud voice, "I bid 205 for 10,000 Steel!" Rejoicing was unrestrained, and floods of buying washed across the Floor – though the reprieve lasted only until Monday, when the market reasserted itself, culminating in Black Tuesday and The Crash of '29.
At the time that the well-dressed Whitney was buoying the hearts of his comrades, no one knew he was personally on the brink of financial disaster. He was running his own business by illicitly pledging his customers' shares to secure his personal loans. Because there is no worse fate than seeing oneself as a Loser. It all caught up with Richard Whitney, who ended up in prison. Will Bernard Madoff be the Whitney of our age? Those who do not learn from the lessons of history are doomed to do serious time.
Which brings us back to the debate about Government inefficiency, versus Capitalist efficiency. Governor Rod Blagojevich is accused of trying to peddle a Senate seat for one million dollars. (We note that certain public officials may want to practice a little Auto-Rewind and acknowledge that, in America, Governor Blagojevich is innocent until proven guilty.) Governor Blagojevich is 51 years old and may do serious jail time. Bernie Madoff has admitted to massive financial fraud and may end up sharing an executive suite with the Governor. Madoff, though, is 70 years old and, over the course of the decades during which his admitted fraud was in place, enjoyed the adulation of friends, the admiration of business associates, and the love of family. He also may have run through fifty billion dollars. The Madoff-Blagojevich equation argues that Business appears to be orders of magnitude more efficient after all.
The clear upshot of the Madoff scandal is a high-profile overhaul of the oversight of investment advisors. The news programs are full of references to the "Form ADV" – the document a Registered Investment Advisor files with the SEC. Madoff is an SEC-registered firm, and this failure of oversight is sure to be laid at the doorstep of the regulators. Nonetheless, we suspect that this event makes hedge fund regulation a Done Deal, in yet another observance of the ritual of blaming the Private Sector for the failure of Government. The furor surrounding this debate will make for good media, and the nation will generate both advertising revenues and entertainment. The Congressional pillorying of the existing regulatory structure, combined with the moral preaching surrounding the renewed effort to regulate hedge funds, will generate rivers of both Congressional sweat, and journalistic ink. Taken together with the working out of our nation's terminal case of Auto-Eroticism, this should keep the American public distracted through much of the first year of the Obama Administration, by which time the American attention span will have suffered Crisis Fatigue that we will be glad to move on to new matters, leaving the current issues unresolved.
As the folks who put out "Financial times – How To Spend It" are aware, we always need something to titillate us. The thrill of spending money that we do not have is far preferable to us Americans to the notion of adjusting our life style to match reality. Or of seeing a regulatory process through to implementation and making sure it works. Witness those whose egos won't allow them to be seen as Not Wealthy, as they rush out to buy $35,000 motorcycles. Witness the man for whom being Governor of the State of Illinois was not enough. Witness the man for whom being a major force on Wall Street and managing a $50 billion hedge fund were not enough.
America has invented a novel form of ritual suicide. The nation appears determined to spend itself to death. Anyone want to give odds?
Moshe Silver
Director of Compliance
Research Edge LLC
Keith R. McCullough
CEO / Chief Investment Officer
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Re: laplace transform
Hi, for real a the expression Sqrt[a^2]*Sign[a] == Abs[a]*Sign[a]== a and you got a/(a^2+s^2) that corresponds to the answer of your mathematics book. And for complex a you will see that the Laplace transform doen not exist because for s=1/4 you get NIntegrate[Sin[(0.3 + 0.5*I)*t]*Exp[-t/4], {t, 0, Infinity}] an interseting result compared to your mathematics text book. Regards Jens <Marlies.Goorden at physics.unige.ch> schrieb im Newsbeitrag news:dv68hj$nvj$1 at smc.vnet.net... | Hi, | I have a problem with the Laplace transform of mathematica. I | want to know the laplace transform of sin(a*t). | When I type | LaplaceTransform[sin(a*t),t,s] | mathematica gives me | \sqrt(a^2) sign(a)/(a^2+s^2) | | On the other hand my mathematics books gives the answer | a/(s^2+a^2) | | For complex a the answer is not the same. If I choose for | example | a=0.3+0.5i and | s=1 | the two formulas give me | -0.096+0.65i and 0.51+0.41i respectively. | | A numerical integration, | i.e. NIntegrate[Sin((0.3+0.5i)*t)*Exp[-t],{t,0,Infinity}] | gives me the same numerical value as the mathematics book | formula. | Is the mathematica formula wrong? | Thank you for your help, | Marlies Goorden |

subset: commoncrawl


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Gibson's Les Paul Studio gives you the robust sustain you need for hot liquid solos and massive power chords. What's Gibson's secret? A major part of the Les Paul's tonewood recipe is the fusion of a maple top on a mahogany body. This combination is largely responsible for the legendary Les Paul sound - as well the LP's reputation for being rather heavy. But fear not! Modern weight relief has been scientifically applied to the Les Paul Studio - giving you all the sustain, without the pain. Now you can play marathon gigs without next-day visits to the chiropractor. The Gibson Les Paul Studio - it's what rock dreams are made of.
'60s Slim Taper neck profile for smooth playabilityThe Gibson Les Paul Studio sports a comfortable, fast-action neck with a '60s Slim Taper profile. Early Les Paul guitars had huge "tree-trunk" necks, but beginning in 1959, the company began slimming the neck down to a more comfortable size. By 1960, this evolved into a design Gibson called the Slim Taper neck. Varying in thickness only about a tenth of an inch from the first fret out to the twelfth and maintaining a precisely controlled width-to-thickness ratio, the Slim Taper neck promoted playing speed while reducing player fatigue. Many guitarists consider Gibson's Slim Taper neck the most playable Les Paul neck ever made. Whether you're chording down low or riffing up high, the Les Paul Studio's neck - with its slick rosewood fingerboard and classic trapezoid inlays - always feels just right.
Pickups deliver true Les Paul sound - and then someThe Les Paul Studio features 490R (rhythm) and 498T (treble) pickups. These "Modern Classic" pickups feature tonal characteristics similar to the '57 Classic, but deliver a slight increase in the upper mids, for a more contemporary humbucking sound. But there's more! The volume knobs feature a push-pull configuration that allows you to choose between classic humbucking tones and snappy single-coil sounds. Take it from the Sweetwater crew - this Les Paul has the classic sounds you want and expect from a Gibson.
PLEK'd for precision playabilityThis Gibson Les Paul Studio 2016 T feels fast and precise, thanks in large part to PLEK processing. Typically reserved for top-dollar custom guitars, this process levels the frets with pinpoint precision, providing you with the most playable fretboard you're likely to own. Each note rings loud and clear, and the fret edges feel smooth as silk.
Gibson Les Paul Studio Solidbody Electric Guitar Features:- Affordable USA-made Les Paul with weight-relieved body and flexible electronics
- Classic mahogany body and maple top deliver singing sustain
- Modern weight relief lightens the load without sacrificing tone
- '60s Slim Taper neck is made for playing without fatigue
- 490R and 498T pickups kick out smoky humbucker tones
- Push-pull controls allow coil tapping for single-coil spank


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Ciência & Saúde Coletiva
On-line version ISSN 1678-4561Print version ISSN 1413-8123
ALMEIDA, Paulo Vicente Bonilha and ZANOLLI, Maria de Lurdes. The pediatrician's role in the Paidéia-Family Health Program in Campinas, São Paulo State, Brazil. Ciênc. saúde coletiva [online]. 2011, vol.16, suppl.1, pp.1479-1488. ISSN 1678-4561. http://dx.doi.org/10.1590/S1413-81232011000700083.
Brazil is developing a Family Health Program in the Primary Health Care. The Family Health Program's team composition has been criticized as insufficient. One of the criticisms has been about the absence of the pediatrician. This study analyzed the experience of the city of Campinas, São Paulo State, which implemented this program with adaptations specifically with the presence of the pediatrician in its 140 teams. Using qualitative methodology and semi-structured interviews, pediatricians and ten family physicians teams were interviewed. The objective was to know their visions about their practice with children's primary health care, the role of each one and about the pediatrician's presence in the team. It was almost an unanimity about the importance of the pediatrician's participation in Primary Health Care, not as a specialty, but because of the improvement of the team's resolubility. Though, the pediatrician's work was considered too focused in the biomedical paradigm and in the office. There is a need for the pediatrician to have more engagement with the psychosocial aspects, the family and territory. It is essential the improvement of the training of pediatricians and family physicians to deal with the complex mission of the primary health care of nowadays.
Keywords : Family health program; Primary health care; Pediatrician; Family physician; Child and adolescent health care.


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CINCINNATI -- The two minute warning came, the Heavens opened, and you just knew that it wasn't the Patriots' day.
Rob Gronkowski still did not make the trip. Wes Welker and Danny Woodhead toil out in the AFC West. Aaron Hernandez is still in the hoosegow. Vince Wilfork went on IR this week, and Tommy Kelly may join him.
The only thing that kept the Patriots in the game is that Andy Dalton is a more despised quarterback in his city than Josh Freeman or Mark Sanchez, and his results bear that out. The Patriots were in this game until the very end, the Cincinnati Bengals could not put them away, and it came down to an Adam (Pacman) Jones pick with eight seconds left for the football warriors of the Queen City to secure a 13-6 win on Sunday at Paul Brown Stadium.
Credit the Bengals with a hard earned win. Their defense is the best the Patriots have faced thus far this year. But had the Patriots had any semblance of their old offensive selves, or if the middle of the Patriot defense had been able to handle their old teammate a little bit better, the Patriots win this game without breaking a sweat. Tom Brady did the best he could given the elements and the paucity of offensive weapons (and don't forget that Stevan Ridley was an injury scratch for this game), but the Patriots simply did not have the material to overcome an inferior opponent, and that opponent played just well enough to win and hand the Patriots their first loss of the season.
If there was one backbreaking moment for the Patriots, it was in the fourth quarter. After old friend BenJarvus Green-Ellis scored on a one-yard touchdown run (on fourth down), the Patriots got the ball at their own 24. On second down, Brady found Aaron Dobson in the right flat who took a soft toss and turned it into a 56-yard gallop down the right sideline that was almost ruined by a fumble at the end of the play which he recovered himself. On the next play, Brady found Danny (don't faint, folks, this guy really did play) Amendola near the goal line for 16 yards. He needed 17 for the end zone, but he was stopped just short of the goal line by Chris Crocker. This would prove crucial for both teams, and it would pretty much prove to be the play of the game.
On first and goal at the one, LeGarrette Blount was stuffed for no gain (actually he lost yardage, but he got a generous spot). On second down, Brady rolled right and found tackle-eligible Nate (I'm no Mike Vrabel) Solder in the end zone, but overthrew him. On third down, Brady had Julian Edelman in the left corner of the end zone with Jones in coverage. Edelman might have made the catch if the ball had been dry, but the ball slipped through his hands and it was fourth down.
Green-Ellis had just scored from the one on fourth and goal, and it was 13-3 Bengals at the time. Bill Belichick did not respond in kind, but instead went with a 20-yard field goal by Stephen Gostkowski. Even if the play fails, and even though the field goal makes it a one-score game, going for a touchdown was the better move. Making it 13-10 given how the game was going might have made for a better finish for the Patriots. This is perhaps a bit ticky tack, but it forced the Patriots to have to score a touchdown to tie the game when the weather was starting to worsen.
The Bengals made the Patriots expend all their timeouts when three Green-Ellis runs begat a punt. The Patriots got the ball back for one final push, trailing by seven and just under two minutes to go.
As if this was a case of divine intervention, a heavy downpour broke out. The rain was steady and absolutely torrential, not to catastrophic proportions, but to the point that it affected Brady and his receivers. The Patriots did preserve one timeout, but with the elements dictating the game, it almost didn't matter.
The Bengals being who and what they are, tried their darndest to help the Patriots force overtime. On fourth and four at the Patriot 41, Crocker mistimed the snap count and was called for offside and the Patriot drive continued despite two incomplete passes prior. On second and ten two plays later, Brady ran Brandon Bolden on a draw out of the shotgun, and the Bengals were caught off guard. He ran twelve yards to the Bengals' 42, and the Patriots used their last timeout. Two plays later, with Brady totally unable to complete anything resembling a pass in the driving rain, Wallace Gilberry was called for roughing the passer. The Patriots now had the ball at the Cincinnati 27 with 26 seconds left. They had plenty of time for 2-3 shots at the end zone. The first shot was a floater lobbed in the direction of Dobson near the left pylon. The ball was tipped in the air and Jones came down with the ball to seal the win.
Prior to all this, it was a defensive struggle all the way. Green-Ellis' touchdown was the only touchdown in the game. Dalton continued to infuriate his home town crowd with an inability to finish drives, was sacked four times, and threw for only 212 yards. He threw a dumb interception on the final play of the first quarter when, in the red area, rolled to his right and threw across his body right into the arms of Brandon Spikes. Against his former team, Green-Ellis managed 67 yards on 19 carries, but Giovani Bernard had a slightly better day, with 62 yards on 13 carries and a little bit better average (4.8 yards per carry) than the Law Firm.
But the Patriots were stagnant offensively all game long. They failed to score a touchdown for the first time since 2009. Brady had his 54-game touchdown pass streak snapped one week before his duel with Drew Brees, who holds the record at 56. Brady was an abysmal 18 of 38 for 197 yards and a passer rating of 52.2 (a remarkable stat given that he suffered no interceptions). Belichick and Josh McDaniels tried to establish the run, and did manage a team average of 4.6 yards per carry, but Blount and Bolden only combined for 75 yards rushing.
Field position also hampered the Patriots. Their first four drives all started inside their own 15 yard line, and all drives ended in punts. Ryan Allen had eight punts on the afternoon, with five of them pinning the Bengals inside their own 20.
The Patriots come home next week to take on the Saints. The big question will be the status of Rob Gronkowski, and how badly he will be needed to shake off this offensive abomination.
If he can't go, then pray the Red Sox knock out the Rays and are still playing next weekend. You might be better entertained by those guys.


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Originally established in 1995 and headquartered in the seaside Venice beachfront district of Los Angeles, skateboarding and snowboarding brand Arbor presents a preview of its upcoming Fall/Winter 2012 apparel collection. Emphasizing eco-friendly materials and construction, the latest line of menswear is highlighted by an array of newly developed outwear styles and knit sweaters. Arbor's full collection of Fall/Winter 2012 apparel is set to hit accounts in the coming months.


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Baylor Honors Outstanding Staff At Service Awards Ceremony
Eight Baylor University staff members were honored for their exceptional service, dependability, accomplishments and professional qualities at the annual Service Awards ceremony Feb. 18 in the Barfield Drawing Room of the Bill Daniel Student Center.
The Outstanding Staff recipients were nominated by Baylor faculty and staff members and selected by a committee made up of university staff. Each honoree received a certificate signed by Baylor President Robert B. Sloan Jr. and an award of $1,500 and will be recognized in the 2004 Baylor Homecoming parade.
Outstanding staff for 2004 are Larry Brumley, associate vice president for external relations; René Coker, coordinator of sponsored programs and contracts; Marcia Dutschmann, personnel records and employee relations coordinator in human resources; Pam Edens, assistant to the presidents; Lynnette Geary, assistant to the dean of the College of Arts and Sciences and assistant carillonneur; Bernice Helpert, administrative associate to the associate deans in the College of Art and Sciences; Lee Lowe, facilities supervisor in biology; and Rick Sowell, information technology coordinator at Baylor Law School.
Bethany Connor, assistant university host for campus tours, was presented with the BAYLORplus Award in honor of her exemplary quality service. With the motto "Quality People Adding Quality Service," the BAYLORplus program honors those who go above and beyond the call of duty and encourages people to seek out opportunities to provide quality service. Nominations or "Salutes" for exceptional service come anonymously from co-workers, faculty members and students. An annual award is given to the Salute of the Year recipient in honor of the individual's exemplary quality service.
Baylor also recognized 300 faculty and staff for their service to Baylor by presenting pins indicating five-year multiples of service, ranging from five years to 45 years. Sixteen faculty and staff members received recognition for 30 years of service, while seven were recognized for 35 years at Baylor. Honored for 40 years of service to Baylor were: Bill G. Cook, Clyde Hart, Pat Johnson, Dr. Andy J. Moore and Dr. Larry Vanlandingham. Receiving a pin for 45 years of service was Dr. Roger E. Kirk, distinguished professor of psychology and statistics and Master Teacher. Also honored posthumously for 45 years of service was Dr. Helen H. Ligon, professor emeritus of information systems and Master Teacher, who passed away in August 2003.
This year's ceremony, continuing a tradition begun in April 1972, was coordinated by the office of compensation and benefits, including assistance from human resource services, public relations, human relations, payroll, university host and the Bill Daniel Student Center.
More News ...


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Top News:
Business Wire:
James Murdoch Steps Down as Executive Chairman, News International to Focus on Expanding International TV Businesses — NEW YORK—(BUSINESS WIRE)—News Corporation today announced that, following his relocation to the Company's headquarters in New York, James Murdoch, Deputy Chief Operating Officer …
Media Decoder, Business Insider, Washington Post, WWD Media Headlines, Guy Fawkes' blog, AllThingsD, Capital New York, Guardian, @paulmasonnews, @dansabbagh, AdAge, paidContent:UK, Journalism.co.uk, Associated Press, Business Insider, Poynter, VentureBeat, Bloomberg, @robertandrews, Gawker, The Next Web, @brianstelter, Reuters, The Huffington Post, FishbowlNY, paidContent, Politico and mnilive.com
Robert Peston / BBC:
Murdochs: Exit James, enter Rupert — James Murdoch will remain chairman of BSkyB — "You don't need more than one Murdoch in charge". — That is what a senior News Corporation executive said to me in explanation for why James Murdoch has quit as chairman of News International, the UK operations of the Murdochs' News Corporation.
Steve Myers / Poynter:
James Murdoch resignation revives News Corp. succession parlor game — James Murdoch's resignation as head of News Corp.'s British publishing unit marks the end of his time as Rupert Murdoch's heir apparent and opens the door for further speculation about who will succeed Rupert Murdoch as head of the company.
Guardian, Media & Entertainment, Media Week, New York Times, MediaPost, Mixed Media and Globe and Mail
Paul Sonne / Wall Street Journal:
James Murdoch Steps Down as Executive Chair of News International
James Murdoch Steps Down as Executive Chair of News International
Company Town
Dominic Rushe / Guardian:
News Corp shareholders step up bid to oust James Murdoch
Edmund Lee / Bloomberg:
News Corp. Executives Weighed Spinoff of Newspaper Publishing, Carey Says — News Corp. (NWSA), facing inquiries by authorities over hacking and bribery at its U.K. newspapers, has discussed spinning off its publishing business, according to Chief Operating Officer Chase Carey.
paidContent:UK, Guardian, Capital New York, The Huffington Post, Business Insider, @dansabbagh, Noted and Guardian
Lisa O'Carroll / Guardian:
Brooks 'had her phone hacked twice a week'
Brooks 'had her phone hacked twice a week'
@megan, The Independent and Guardian
Matthew Holehouse / Telegraph:
Leveson Inquiry: phone hacking police identified 418 potential victims in 2006
Leveson Inquiry: phone hacking police identified 418 potential victims in 2006
Seth Godin / paidContent:
Who Decides What Gets Sold In The Bookstore? — We can probably agree that the local supermarket has no moral or ethical or business obligation to sell cherry-flavored Cap'n Crunch. If the owner doesn't like cherries, she doesn't have to sell them. — And the cereal maker shouldn't work under …
GigaOM, TechCrunch, WebProNews, TeleRead, GeekWire, App Advice, Joho the Blog, Melville House Books and The Digital Reader
Peter Kafka / AllThingsD:
Facebook Pitches Advertisers on a New Ad Model — Facebook sold $3 billion worth of ads last year, but it's still feeling its way around the ad business. — And the ad business still isn't sure what to make of Facebook: Grand new marketing paradigm, or a collection of 800 million people …
paidContent, PC Magazine, Forbes, GigaOM, WebProNews, Heard on the Runway, App Advice, Betabeat, eMedia Vitals and Noted
Steve Myers / Poynter:
IRS delays make it hard for nonprofit news sites to build their businesses — Anyone with a cursory knowledge of the nonprofit news field knows the big players: VoiceofSanDiego.org, Texas Tribune, MinnPost, ProPublica, et. al. — You probably haven't heard of the Arlington Mercury or the San Diego Newsroom.
J-Lab and The Newspaper Guild
Steven Church / Bloomberg:
Tribune Paid Bankruptcy Advisers $233.3 Million Since Filing in 2008 — Tribune Co. (TRB), the biggest news media company in bankruptcy, paid lawyers and other advisers $233.3 million since filing for court protection from creditors in December 2008. — The two main law firms …
Andrew Beaujon / Poynter:
NYT guild members have 'quiet' protest outside Page One meeting — Newspaper Guild members at The New York Times received this notice Tuesday: … Quiet protest, everybody! Sorry: (quiet protest, everybody). You can vigorously rustle your copy of the Observer, or tap out a polite tweet on your phone (keyboard clicks off, please).
The Huffington Post
Janko Roettgers / GigaOM:
Scoop: Less than 1M Google TV devices in use — It's widely known Google TV hasn't exactly been a success story. Early CE partner Logitech lost millions on the device, and consumer feedback was mostly negative after the first devices reached the market in late 2010.
the Econsultancy blog, BGR, SlashGear, Online Video News, Softpedia News, Electronista and Business Insider
Michael Arrington / Uncrunched:
Helpful Tips For Keeping Your Job As Editor Of TechCrunch — I rarely get writers block, but I've aborted multiple attempts to write about the leadership change at TechCrunch yesterday. So I'm going to keep it simple. — I'm exceptionally bummed that so many people have left TechCrunch.
TPM Idea Lab, Marketing Pilgrim, TechCrunch, WebProNews, Erick Schonfeld, Gawker and VentureBeat
Stephen Galloway / Hollywood Reporter:
Whatever Happened to Ted Turner? — The "Mouth of the South" is no longer as he devotes his time (and $1 billion) to the U.N., jets between 28 homes and four girlfriends, misses Jane Fonda and opens up to THR about Rupert, Jerry and his abuse as a child. Says a friend: "He's definitely changed."
Mediaite, Washington Post, Chickaboomer, TVNewser and The Daily Caller
Jim Romenesko:
Vanity Fair profiles Washington Post … Katharine Weymouth … More after the jump — Vanity Fair release — SARAH ELLISON ON THE EMBATTLED WASHINGTON POST — New York, N.Y.—"I wouldn't. I can afford to be sentimental," Warren Buffett tells Vanity Fair when asked if he would ever sell …
Erik Wemple and Poynter


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Many people will want to keep them and the most tax-efficient way to do this is in a PEP. Thanks to a ruling by the Inland Revenue, investors who receive free shares from several demutualisations will be able to shelter these shares in a general PEP on top of their annual pounds 6,000 general PEP allowance.
Investors may also decide to open a single-company PEP for their shares, up to a pounds 3,000 limit. All the building societies which are converting to banks are likely to offer single-company PEPs to their shareholders. But as you can only put one company's shares in this type of PEP, if you are expecting shares from more than one building society this will not be appropriate.
Those expecting windfalls from more than one building society could shelter all the shares in a self-select PEP. But you will not be allowed to do this if you already have a general PEP, as you can only have one general PEP each tax year. Moreover, with a self-select PEP, you would be unable to then have a separate general PEP an addition to the self-select one you are sheltering the shares in.
So if you already plan to have a general PEP in the 1997/98 tax year and are expecting several lots of windfall shares, the best place to shelter them is in there.
Someone who receives pounds 1,000 of shares when Alliance & Leicester, Halifax, Northern Rock and Woolwich demutualise could put all these shares into their PEP on top of their pounds 6,000 allowance. This in effect would enable the investor to shelter pounds 10,000 of shares in their PEP for the 1997/98 tax year.
Several of the large PEP providers, including Perpetual, M&G, Schroders, Barclays and Mercury, have already said that they will allow their general PEP investors to shelter their windfall shares in their PEPs.
Paul Ashby, marketing manager at Barclays, believes it is only fair to tell investors before the beginning of the new tax year if they will be allowed to shelter these shares in their PEP. "If we don't offer this service, investors who invested their 1997/98 PEP allowance with us would find when they received their windfall shares in the summer they could not PEP them. By allowing them to shelter these shares in our general PEP this avoids the problem," he says.
Other PEP providers are allowing investors to temporarily shelter their windfall shares in their PEP. For example, Fidelity will take the shares into its PEP but they must then be cashed in and the money used to buy additional units in Fidelity's unit trust PEP. Save & Prosper offers a similar facility. The advantage of these schemes is that you can increase the amount you are allowed to invest in your PEP from pounds 6,000 to pounds 6,000 plus the sum at which your windfall shares are sold.
Many PEP providers are looking into what facility, if any, they will offer PEP investors with windfall shares.
Lloyds Bank hopes to offer investors the facility to place windfall shares into all its PEPs and will announce its decision before the end of the tax year. Virgin and TSB are looking into the possibility of offering this facility and hope to make an announcement before the start of the next tax year.
If you want to be sure that you will be able to place any windfall shares in your PEP, contact your provider to find out what arrangements it has made. M&G's Rachel Medill says: "To be sure that they can get all their bonus shares into a tax-free environment, investors looking for a 1997/98 PEP should choose a general PEP that will allow holding of individual shares in institutions which are coming to the stock market."
You can only have one PEP manager each tax year. So if you discover after 6 April that your PEP provider will not allow you to put any windfall shares in your PEP, it will be too late to start a new PEP.
If you plan to put your shares into a PEP, ask for a share certificate and put the shares into your PEP within 42 days of receipt.
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Definition of bedfellows
plural of bedfellow 1
The word "bedfellows" uses 10 letters: B D E E F L L O S W.
No direct anagrams for bedfellows found in this word list.
Adding one letter to bedfellows does not form any other word in this word list.
Words within bedfellows not shown as it has more than seven letters.List all words starting with bedfellows, words containing bedfellows or words ending with bedfellows
All words formed from bedfellows by changing one letter
Other words with the same letter pairs: be ed df fe el ll lo ow ws
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Previous word in list: bedfellow
Next word in list: bedframe
Some random words: roach aikido viol do gnu placabilities ofttimes
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Separate Maintenance
A "Separate Maintenance" Decree, sometimes (but improperly) called a decree of "legal separation," can determine and settle spouses' financial responsibilities to one another, and the possession and control of property. Such a Decree can also specify the custody, visitation, and support of any minor children. A Separate Maintenance Decree does not dissolve the marriage.
In practice, such proceedings are rare, and usually sought for religious reasons, or to prevent a loss of benefits or insurance that might occur upon divorce. The grounds are the same as those for divorce, plus the additional ground of "desertion by a spouse for a period of at least 90 days." The filing of an action for separate maintenance is often met with a countercomplaint for divorce which, if granted, makes the separate maintenance action moot.
The courts appear to be authorized to grant to a party in a separate maintenance action any of the relief that the court could grant to a party in a divorce action, either preliminary or in final orders, including child custody, child support, spousal support, alimony, property division, and attorney's fees and costs. No order in a separate maintenance action is effective beyond the joint lives of the parties.
The court can "change, modify or revoke" a separate maintenance decree at any time, at least prospectively, and a separate maintenance decree does not bar either party from bringing a subsequent action for divorce.
Where a separate maintenance decree has been entered elsewhere, the situation can be more complicated, where only one party to the earlier action moves to Nevada. Nevada must give full faith and credit to the foreign separate maintenance decree while the foreign jurisdiction must give full faith and credit to the subsequent Nevada divorce which terminates the marital relationship. If the state issuing the separate maintenance award did have jurisdiction over both parties, and the Nevada court issuing a divorce did not have jurisdiction over both parties, the Nevada court could not terminate a support order granted by that other state, and an order or decree purporting to do so would be void.
There is some question as to whether parties to a Nevada separate maintenance action can create permanent orders relating to property and alimony within the context of a separate maintenance action. In either case, such decrees do not always do so, and any matter not specifically dealt with remains in abeyance, reserved for any later divorce action filed by one of the parties. Since an entirely separate legal action must be filed to obtain a divorce, a party should consider whether a decree of separate maintenance action is worth pursuing if a future divorce is anticipated.
Separate maintenance actions are relatively rare in Nevada Family Law. Nevertheless, WILLICK LAW GROUP has litigated a number of such actions, where appropriate, and is well versed in the application of the relevant law on the subject.
Links to Other Web Sites
- NRS 125.190 – Action by Spouse for Permanent Support and Maintenance
- NRS 125.210 – Powers of court respecting property and support of spouse and children
- Coping with Divorce and Separation
© 2016 Willick Law Group


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The Bluegrass State is loaded with arms this spring. Warren East High (Bowling Green) lefthander Hunter Green may have pitched himself into the first round, Woodford County High (Versailles) righty Clinton Hollon has even better present stuff and Louisville and Kentucky may have five pitchers taken in the first 10 rounds between them.
***** | One for the books |
**** | Banner year |
*** | Solid, not spectacular |
** | Not up to par |
* | Nothing to see here |
Rating compares this year's group to what a state typically produces, not to other states |
The position players don't stand out as much, though Louisville's Ty Young has one of the sweetest swings in the Midwest and teammate Adam Engel is one of the top athletes in college baseball.
BA 500 Scouting Reports for Kentucky |
1. Hunter Green, LHP, Warren East HS, Bowling Green, Ky. (National Rank: 31)
2. Dace Kime, RHP, Louisville (National Rank: 92)
3. Clinton Hollon, RHP, Woodford County HS, Versailles, Ky. (National Rank: 95)
4. Ty Young, 3B, Louisville (National Rank: 129)
5. Corey Littrell, LHP, Kentucky (National Rank: 130)
6. Jeff Thompson, RHP, Louisville (National Rank: 152)
7. Adam Engel, OF, Louisville (National Rank: 156)
8. Trevor Gott, RHP, Kentucky (National Rank: 167)
9. Chad Green, RHP, Louisville (National Rank: 267)
10. Connor Heady, SS, North Oldham HS, Goshen, Ky. (National Rank: 284)
11. J.T. Riddle, 2B, Kentucky (National Rank: 327)
12. Andrew Edwards, RHP, Western Kentucky (National Rank: 387)
13. Coco Johnson, OF, Louisville (National Rank: 464)
14. Jerad Grundy, LHP, Kentucky (National Rank: 465)
15. Sutton Whiting, SS, Louisville
16. Ryan Huck, 1B, Western Kentucky
17. Walt Wijas, RHP, Kentucky
18. Cole Sturgeon, OF/LHP, Louisville
19. Justin Hageman, RHP, Western Kentucky
20. Matt Reida, SS, Kentucky


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Veritas Cabinet Scraper
The Veritas Cabinet Scraper can be used to smooth glue lines or surfaces such as panels and table tops, or where there is tricky grain, without tear out, digs or gouges. The sole is longer and the handles have been placed further back and slightly lower than the No.80 on which it is based. This allows pressure to be applied directly in line with the cutting edge and prevents the blade from catching when the scraper runs off the end of the workpiece. The 70mm(2.3/4") wide blade has both cutting edges ground at 45° to permit preparation of two edges at once. The 80mm (3.3/16") x 85mm(3.3/8") sole is surface ground for accuracy. The body is made from ductile cast iron, overall length 290mm(11.1/2") weight approximately 740g(1lb.10oz).
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I like home cooking and sharing recipes. Our family , especially our 2 kids stay away from junk food with my vegetable and meat dishes , which are freshly cooked at home predominantly from Turkey . Turkish cuisine is getting more and more popular everyday, so I will share some of these recipes especially the ones that our family as well as our friends love to eat. I will also share some travel insights for visiting Turkey .
Monday, November 29, 2010
Chicken with Bechamel Sauce
I like this recipe because it is easy to prepare and you can use leftover chicken or remaining turkey from Thanksgiving dinner.
5-6 pieces of chicken (it can be any type of chicken; leg , breast, leftover chicken..)
4 tablespoons of flour
2 tablespoons of butter
1 cup of milk
1 cup of finely shredded mozzarella cheese
Boil the chicken in salty water until it is tender. Separate the bones and tear the chicken into small pieces with your hands.
In a small saucepan melt the butter , add the flour and stirring constantly add the milk very slowly. Continue stirring until you have a smooth creamy sauce.
Put the chicken into an oven pan with some of the chicken broth that you obtained when you boiled the chicken. Put the béchamel sauce on top of it and sprinkle the cheese. Cook it in the oven until the top gets brown.
Bon Appetite!
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I just posted some thoughts over at the Enterprise 2.0 Blog.
I'm now the lead blogger for the Network World Masters of Unified Communications site. I look forward to seeing you there.
Here's my latest NoJitter post on trends around desktop telephones, there have been a fair amount of comments from telecom managers mostly supporting the research I cited.
My thoughts over at Enterprise 2.0 Blog
Thanks to Focus for naming this as one of the top 15 VoIP blogs. I highly recommend following the rest of the list as well.
Probably just posturing, but obviously this dispute has gotten nasty....
At DefCon Sipera has demoed a method of hijacking video streams to either copy them, or replace the actual video with your own (think: the scene from Oceans 11 when security monitors show an empty vault)
Here's more: http://www.wired.com/threatlevel/2009/07/video-hijack/
For your reading pleasure:
Next Tuesday, June 9th, at 2:00 PM Eastern, I will be presenting a complementary webinar entitled "Saving Money With SIP Trunking." Please feel free to register at: http://www.nemertes.com/webinars/upcoming_webinar_saving_money_sip_trunking
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If you're a writer in or around London, Canada, this is the place for you.
Read this page for a quick introduction to the society. You can also connect via newsletter. Welcome!
The London Writers Society provides information, community, and exposure for new and experienced writers, in and around London, Canada.
Monthly meetings
Free and open to the public, our general membership meetings are a great place to meet other writers. These monthly meetings feature a variety of events ranging from guest speakers to mini-workshops to writing exercises.
Location: Our General Membership Meetings venue is the Stevenson & Hunt Room at the Central Library (251 Dundas Street, London, ON). Map.
Dates and Time: Our General Membership Meetings are the third Tuesday of each month (except August and December) from 6:30 to 8:45 pm.
Critique groups
For many members, critique groups are a key attraction of the London Writers Society. They bring writers together with peers for face-to-face comments and suggestions on their works in progress.
We produce a variety of events to inform, entertain, and give writers a platform for their work. Our activities have included:
- Produced FringeWords as part of the London Fringe Festival.
- Offered mini-workshops on query writing, flash fiction, and other topics.
- Organized research/field trips to police stations, horse farms and shooting ranges.
- Hosted holiday parties and pub nights.
Membership in the London Writers Society is the best writing bargain to be had — only $25 a year to join our creative community. We invite you to come to our general meetings to get acquainted, and if you like it (as we think you will!) then you can become a member.


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Photographer's Note
Well, I do not know how you say "Will you marry me" in Vietnamese, but I know that she said 'yes'...
In a small village around Lao Cai, I came across a wedding ceremony about to end. I barely had the time to grab my camera that the newlyweds left on their honeymoon... on a scooter. With luck, they passed by me and turned around just as I shot my only picture of the event.
On behalf of TE, I wish them a healthy, happy life and many children!
Critiques | Translate
Eagle78 (1933) 2004-06-16 9:38
Eheh! Delicious scene Frank ;))) Great capture with a wonderful frame by letting some free space in front of them...it lead us thinking about the road those two have to ride now on ;)) Good job!
maciekda (19895) 2004-06-16 10:09
nice image Frank, funny to see them on a bike - very Vietnamese. great moment
RedDragon (34) 2004-06-16 10:27
Frank, what a nice picture !
Now it's one of my favotite to be honest.
I don't want to take care about the technical part of your shot but about the feeling I have.
On an emotional point of view, this is great.
It's like "our last look of our past, before living together"
Many thanks !
waysai (609) 2004-06-16 11:38
Hi Frank, you were just one lucky guy as they were happy couple. Great shot, a little contract would stand the couple out.
irishkiwi (90) 2004-06-16 12:15
Really neat shot, you did a great job. Like others mentioned a glance back at their old lives as they set off on a new one. Where's their luggage?!!
flydragon (0) 2004-06-16 12:17
Hello Frank
nice picture lovely scene
funny i post today a picture in vietnam also
from newlywed ;o)
good dof in this photo
bravo !! ,o)
explomars (4302) 2004-06-16 14:30
Tres belle photo.Very nice shot.Very natural.I like it very much.Congratulations
Galeota (10352) 2004-06-16 17:32
This is so vietnamese like..almost living on a motorcycle, the inevitable step between bicycles and cars that all the big cities in south east asia have to go through.
Good shot of an exceptional day of their life, rather than a shot of their daily life...
htremblay (1666) 2004-06-16 21:39
Charmant cette photo, bien vu.
Charming this photo, well considering.
pridel (233) 2004-06-17 5:19
j'aime beaucoup les expressions des visages. habituellement les mariés affichent de superbes sourires! ici seul reste un timide sourire sur les lèvres de la jeune mariée. la photo en elle même est impéccable. merci
Catli (550) 2004-06-21 10:23
Great shot, Frank. This changes quite a bit from the traditional image that we are used to of newly weds going on their honeymoon. Good timing!
bojoku_66 (301) 2004-06-30 16:18 [Comment]
rabani (9645) 2004-07-06 2:37
I like this angle Frank. It says something about starting a future together but look back sometimes to gauge where you are going. A great man said, how far you have gone ahead depend on how far you remember the past.
kaychambers (1198) 2004-07-13 20:13
Fabulous image Frank.....Good DOF, great facial expressions, perhaps small OE on the wedding dress, but since no one else mentioned it, perhaps its this flippin' LCD screen again.
Nice one
Vic, Singapore. 14th July 2004
bip-bip (1837) 2004-09-25 10:03
what a great shot that you caught at the right moment when one knows it's quite unusual to meet a bride in this area
Thank you for sharing
danbachmann (1746) 2005-05-06 11:33
Excellent composition and unique in expression and everything else. In the Asian lady like side saddle she is ready to head off into the sunset.
Albrecht (11281) 2006-01-19 5:37
Hi Frank
A wonderful shot well timed and placed in the frame.Well seen and captured
greetings ALBRECHT
I heard that hanging on behind the driver like this is called Honda Umm which means holding around the waist, with Honda being a typical make of bike. Umm means hold. Your photo is the ultimate in Honda Umming. Good photo.
TBasco (143) 2006-03-17 5:57
this is a good reason to get married :) a lucky catch indeed and the composition and shallow dof was well done
ishai (4097) 2006-03-17 6:36
Very nice and original capture
very symbolic and very funny
The question is where the luggage is and why the sad looks
Well captured with nice note
asanak (1972) 2006-04-16 16:52
hi frank
I just can't take my eyes out of the photo!
thanks ,wish happy life for you..
Photo Information
- Copyright: Frank Brock (fapmap) (250)
- Genre: People
- Medium: Color
- Date Taken: 2004-01-04
- Categories: Daily Life, Humorous, Ceremony, Decisive Moment
- Camera: Nikon D100
- Photo Version: Original Version, Workshop
- Theme(s): Weddings, Brides, Marriages, Brides- Grooms- Mariés [view contributor(s)]
- Date Submitted: 2004-06-16 9:20
- Favorites: 1 [view]


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"Murphy was an optimist!"
A Conversation With My 12 Year Old Self July 5, 2012 4:19 pm
Posted by Doug McCaughan in : Of InterestThis currently has 309 views and is guaranteed to be the next big viral video on the web. I wish I had his forethought 20 years ago!
Update: Today, 24 hours later: 1,254,053 views.
no comments yet - be the first?


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Bender stays at Dortmund
Borussia Dortmund midfielder Sven Bender has signed a long-term contract that runs until 2016.
Last Updated: 14/12/10 10:57pm
Borussia Dortmund midfielder Sven Bender has signed a long-term contract that runs until 2016.
The 21-year-old has been in superb form this season with his displays attracting attention from several clubs.
However, the Bundesliga leaders have been quick to recognise his impact on the team this term and have acted accordingly.
Bender joined Jupp Klopp's side from 1860 Munich in the summer of 2009 and has helped them to achieve an 11-point lead at the top of the table.
His old deal was due to run until 2013, but his new contract means he will be a fixture of the Dortmund team for some time to come.
"I did the right thing when I joined Dortmund," Bender said.
"And I want to be around when Dortmund continues to build in the future."
Dortmund sporting director Michael Zorc added: "Sven is an important player in our future planning."


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- //Home
- //DVDs
- //Reviews
- //George Jones
Back in the '70s and '80s, if you happened to make it down to Orlando, Florida to hit the theme parks during the day and still had energy to dance to some of your favorite live music at night, Church Street Station was the place to be. All the big names of that era made an effort to hit the stage at the Station's Cheyenne Saloon and Opera House and one of the top country singers to perform there was the legendary George Jones.
Jones, who by this particular point in time, had been on the scene for well-over a quarter century, his marriage to Tammy Wynette already over, was riding high on the success of his Grammy Award-winning hit "He Stopped Loving Her Today". His performance was captured on a television special in an unspecified year (circa 1980?) on an unspecified channel, which is noted only because this DVD is slim in liner note information or pretty much anything else except a list of song titles.
This is a major strike against the DVD. Not all of Jones' hits are here, for you fans of the Possum. In fact, this meager affair barely scratches the surface. But back to the actual performance.
Dressed in powder-blue polyester jumpsuits, Jones's able backup band helps propel the Possum through a host of hot hits, including the amusing opener, "No-Show Jones", "Who's Gonna Chop My Baby's Kindlin' When I'm Gone", and "Bartender Blues." Throughout the program, Jones strums an acoustic guitar, mugs for the camera, and appears to be having a good time. At the beginning of the show, Jones pulls up in front of the performance hall in a vintage Mercedes convertible, bringing to mind George Strait when he rides into the Houston Astrodome prior to his performance there, featured on George Strait: Live at the Astrodome.
For those who remember country singers Johnny Rodriguez and Mark Gray, chances are they'll want to pick this up since they are featured as guest performers during the poor quality, hour-long program. As has already been noted, this DVD, put out by Pennsylvania-based Quantum Leap, is not a high-quality affair. The packaging is minimalist at best, with a picture of Jones, circa 1960 on the cover, and a basic bio printed on the back along with the track listings. While the performance is solid, the packaging and quality are substandard and are not worthy of a man so revered in the country music world.
Call for Essays on Topics in Culture; Present, Past and the Speculative Future
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Before the first session of Writing Is Rewriting even started at East West Players' David Henry Hwang Writers Institute, I asked the students to read five plays that I said we would reference often in the workshop. The reading list I compiled comprises narrative plays (as opposed to experimental pieces), but each of the plays approaches its narrative in stylistically and structurally different ways:
• Durango by Julia Cho is about a Korean-American father and his two sons on an emotionally wrought road trip. I chose this play because it tells its story in short scenes (there are 19 total, which is a lot for most plays) and it's very clear from scene to scene what the character's objectives are and what tactics they use to get what they want. (Here's more from the New York Times.)
• Six Degrees of Separation by John Guare is about a man who dupes high-society New Yorkers into believing he is the son of Sidney Poitier. The play's thematic canvas is wide, and it's fascinating that how the play is told—characters recounting anecdotes to each other and sometimes directly to the audience—contribute greatly to its meaning. (Here's more from the New York Times.)
• God's Heart by Craig Lucas is a challenging love-it-or-hate-it play that, for the most part, takes place in a shared dream between its three main characters. I am struck by how Lucas handles weaving in and out of multiple, head-spinning storylines and by how he manages to elicit deep sympathy for his characters, even though we're not watching them in the "real world." (Here's more from the New York Times.)
• Collected Stories by Donald Margulies is about the increasingly conflict-ridden relationship between a college writing student and her professor. Many beginning playwrights these days are so influenced by the speed of movies and television that I thought it was important to take a look at a play that was only two characters and six scenes—to demonstrate how to stay within a scene for a long period of time while keeping it interesting. (Here's more from the New York Times.)
• Hamlet by William Shakespeare needs no introduction or justification, even for a Shakespeare-phobe like me. Don't pretend you've never recited the "To be or not to be" monologue in your bathroom mirror while whacking it. (Wait. I'm not the only one who's done that, am I?)
Go forth and learn, young playwrights!
3 comments:
Okay, I'm curious: You don't like reading novels, but you like reading plays? Do you hate the description parts of novels, or would you actually not read plays if it weren't a requirement for staging/writing them? (I don't like reading plays much, but I love seeing them. Maybe it all depends how good you are at visualizing stuff without an author's help.)


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As if there was any doubt, the concert was amazing! It didn't quite sell out but there weren't more than a handful of empty seats. Molly's opening set included a much more finished version of her Open Letter to Stephen Fry that she performed at w00tstock Seattle. If anyone had told me a year ago that I would be a raving fan of ukulele music I would have thought they were nuts!
Marian's set was unbelievably good. Much as I like her stripped down just-a-voice-and-a-guitar sound, having a full band behind her really brings out the power in her voice. I really REALLY hope she was recording this set because it was just stunning.
One of the great joys of w00tstock 2.4 in San Diego was finally getting to see and hear Marian Call in person; she is brilliant, and totally One Of Us. I was talking with Marian this morning, and she told me that she has a show coming up in Seattle: Well, we're having a sort of mini-w00tstock 2....
I was going to come up with an insightful and interesting post but then you said "stoner roadie science" and it very nearly made me snort coffee out my nose and now everyone sitting near me thinks I'm insane because I keep trying to not laugh at, apparently, nothing.
Holy Crap, it's time for a new episode of Radio Free Burrito! Has it really been three weeks since the last show? I guess it has. Well, I brought a note that will hopefully excuse my absence... Show Notes: The logo was designed by WWdN:iX reader Marc, who asked that I not link to his "in progr...
Since you mention improv and New Choice, let me direct you to some footage of Jeff Lewis from The Guild playing that very game (though they call it "shoulda said") at an improv theater in Seattle that he, Sandeep Parikh and Robin Thorsen spent a night at during Emerald City Comic Con.
I spent most of the morning and afternoon rehearsing my speech, listening to how it sounds, and making sure it times out right. The old improviser in me even played New Choice a few times with some ad-libs that amused me so much, I ended up writing them into the text. Writing this speech and pre...
Excellent advice! This is more or less how we started doing the Seattle Geekly podcast -
Shannon: Lets make a podcast about geek stuff in Seattle!
Matt: uhhh... okay!
Neither of us thought at all about how we would do it or how much work it would be, although a lot of that was ignorance. We had no idea how much work it would be and by the time we found out it was much too late. We'll be putting up episode #41 this week!
My friend Ariana works with Warren Ellis to make all kinds of really cool things. Lately, they've been experimenting with print on demand technology to take creative risks that simple economics would have rendered impossible as recently as five years ago. For example, three weeks ago, they sta...
Bring this show to Seattle! you know how much fun we can be!
We have cake!
Everything I could possibly say about w00tstock has already been said by Paul and Storm, who made a lovely list, and Molly, who made a comic that captures exactly how I felt the whole time we did our shows. I loved feeling the terror and exhilaration of trying something totally new (The Trade, w...
Having run into my share of asshat high end guild leaders, allow me to compliment you on your performance. Good stuff!
Just a thought on how you can maintain your cool exterior if the whole "beetle" situation arises again - pretend you're spontaniously busting out with the Time Warp!
"OHGODABUG!GETITOFFGETITIOFF!BUGBUGBUG... I mean... It's just a jump to the left!"
Season Three of The Guild is well underway, and Felicia just released the gag reel for our first four episodes, so I thought I'd embed everything that's available so far in one convenient place: Episode One: "Yes. We are." Episode Two: "To clarify: your group should be behind t...
Right there with you on the recovery. The PAX-crud was some epic level funk. Hopefully this won't dissuade you from bringing w00tstock to Seattle! On behalf of the residents we promise that if you come back we won't try and turn you into a flu-zombie again.
I'm slowly but surely clawing my way back into the land of the living with the relentless determination and singular sense of purpose that can only be found in a recently reanimated corpse on a quest for brains. It's appropriate, because I feel very much like I'd imagine the recently-deceased wo...
I think this was one of the highlights of the weekend for everyone! In my mind this is part of what sets PAX apart from every other gaming expo out there. Stuff like this just doesn't happen at E3.
This was the ultimate highlight of my #PAX 2009, and watching it again just now brought tears to my eyes again. I'm not worthy of something this awesome. Thank you Jonathan, and Paul, and Storm, and Molly for making me feel cool. I <3 you guys.
Stopped by your table at the con on Saturday (along with 80 hojillion other people I'm sure). We were the ones who gave you one of our business cards "Just so we could say we did". Thanks for being so kind to us fans!
I'm going to be in Seattle this weekend for the Emerald City Comicon. I had a blast at this show last year, and I've been looking forward to coming back ever since. I'm coming up a day early to do some media stuff to help promote the con, so if you live in Seattle, you can hear me on KISW 99.9 i...
I too haven't watched an episode of Family Guy in years but there was no way I was going to miss this one. The McDonald's drive through bit was hilarious but shouldn't you and Michael Dorn have been ordering veggie burgers?


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Overhanging Block on South Slope | [ Sizes: Orig | Med | Small | Thumb ] | |||
The reach the summit of Seven Gables from the south slope, wrap clockwise around and over the obvious, overhanging block pictured here when you reach the impass just below the peak. The moves here are not especially difficult or exposed. | Image Data
Image ID: 751608 Hits: 1476 Lat/Lon: 37.31147°N / 118.83378°W Object Title: Overhanging Block on South Slope |


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Nip on over to Scar Stuff, if you fancy getting hold of Al Zanino's "The Vampire Speaks in the Vampire's Lair". 6 Minutes of weirdness…
Scar Stuff is a great site and well worth an exploration.
Monday, August 28, 2006
The Vampire Speaks
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05 June 2008
Bruce Chatwin Preppy Chic
The English writer Bruce Chatwin (1940-1989) was a devotee of OCBD shirts, which numerous photos can verify. I include just two here, including one featuring him in an OCBD and tick-weave jacket with a 3/2 roll. The other shows him in a white OCBD and boat shoes. A masterful writer and engaging character, he is missed.
5 comments:
And I met him. Once. His eyes went right through you, X-Raying right into the core of you. He was amongst the first of my insights into the wider world.
Russell - 06 June, 2008 05:30
- Richard said...
Nice photos! I am not familiar with his writings, but he appears to have style.
- 06 June, 2008 09:49
- longwing said...
Dude, I've never heard of any of these guys. Well, of course I've heard of Ian Flemming, but none of the rest. You must be well read.
I like to read Patrick when he's talking about his movies. It makes me feel relatively sophisticated. But over here it's kind of the opposite. - 07 June, 2008 20:25
- Pigtown-Design said...
Ohhhh... I just got a bio of Bruce Chatwin. Can't wait to read it!
- 09 June, 2008 11:15
- DJ said...
I wonder if I'm in it?
Russ. - 10 June, 2008 00:07
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A common argument against removing or increasing current liability caps is that it will push the smaller, less financially stable companies and professionals out of business. Companies that would be in danger of going bankrupt from a multi-million dollar lawsuit may have to close if they cannot afford the insurance to offer them further protection.
Doctors especially are among the many voices against lifting liability caps for medical malpractice, as many fear their malpractice insurance would skyrocket. Their only options would be to somehow afford the insurance, potentially raising fees and losing clients, or to close completely and avoid a potentially bankrupting lawsuit.
The real matter is that these companies and professionals should focus more on the safe operation of their practices rather than whether or not they're going to get sued for all they are worth. If they'd take more measures to prevent serious accidents, they wouldn't always have to worry about lawsuits dealing with liability caps.
There are many like me that fear the lower liability caps out there are only giving companies and professionals an excuse to be a bit less concerned about causing incidents that would warrant a lawsuit. While it's true that a limitless liability system could potentially turn some companies away from being in business, do you really want a company drilling for oil that can't be financially responsible for the potential risks their operation comes with?
My article on the dangers of liability caps explains their impact on companies and professionals, as well as the dangers to consumers. It's important to understand the general purpose of liability claims and how they impact both sides of a lawsuit.
Understanding liability caps is important when you are seeking to file a lawsuit, especially for medical malpractice. Virginia medical malpractice attorney Ben Glass has been fighting to help victims in the Virginia and D.C. areas for their medical malpractice claims. For more information, contact us today - 703-591-9829.
Opposing Arguments on Lifting Liability Caps
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Overall, he stuck with his principles of a Democratic Republican. The longer Jefferson was in office, the more the Democratic Republicans started to go against their own principles. The acquisition of the Louisiana territory, in 1803, was the most notable achievement of Jefferson's presidency, yet it showed the inconsistency between his actions and his beliefs...displayed 300 characters
Jefferson realized that there was no time for strict constructionalism due to the slow process of the amendment. This purchase violated his constitutional morals and his belief in a weak central government. Another one of his famous acts was the Embargo Act. According to the political cartoon by Alexander Anderson, (Document C) the Americans were greatly hurt by the Embargo Act...displayed next 300 characters