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Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: May 16, 2011
Commission File Number 001-34153
GLOBAL SHIP LEASE, INC.
(Exact name of Registrant as specified in its Charter)
c/o Portland House,
Stag Place,
London SW1E 5RS,
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-I Rule 101 (b)(1).
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7).
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
Information Contained in this Form 6-K Report
Attached hereto as Exhibit I is a press release dated May 16, 2011 of Global Ship Lease, Inc. (the "Company") reporting the Company's financial results for the first quarter of 2011. Attached hereto as Exhibit II are the Company's interim unaudited consolidated financial statements for the three month period ended March 31, 2011.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 16, 2011 By:
/s/ IAN J. WEBBER
Ian J. Webber
Exhibit I
Investor and Media Contacts:
The IGB Group
Michael Cimini
Global Ship Lease Reports Results for the First Quarter of 2011
LONDON, ENGLAND — May 16, 2011 - Global Ship Lease, Inc. (NYSE:GSL), a containership charter owner, announced today its unaudited results for the three months ended March 31, 2011.
First Quarter and Year To Date Highlights
Reported revenue of $39.1 million for the first quarter 2011, down slightly from $39.2 million for the first quarter 2010 due to three days offhire in first quarter 2011 for a planned drydocking
Reported net income of $10.8 million for the first quarter 2011, including a $5.0 million non-cash interest rate derivative mark-to-market gain. Reported net income for the first quarter 2010 was $3.3 million, including $4.9 million non-cash mark-to-market loss
Generated $26.2 million EBITDA(1) for the first quarter 2011, down on $28.3 million for the first quarter 2010 due mainly to increased crew costs and the timing of maintenance and stores spend
Excluding the non-cash mark-to-market items, normalized net income(1) was $5.9 million for the first quarter 2011 compared to normalized net income of $8.2 million for the first quarter 2010
Loan-to-value under the Company's credit facility as at April 30, 2011 was less than 75%. Therefore, the interest margin paid on borrowings decreases to 3.00% from 3.50%, prepayment of borrowings becomes fixed at $10 million per quarter and dividends to common shareholders are permitted
Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "During the first quarter, our fleet performed as expected, enabling the Company to once again achieve strong utilization. With our entire 17 vessel fleet operating on time charters, we continue to generate sizeable cash flows. As we progress through the year, we remain committed to seeking opportunities to capitalize on the industry's strong fundamentals while maintaining a significant focus on preserving our financial strength."
Mr. Webber continued, "As containerized trade has continued to recover, we have seen steady improvement in asset values. This improvement, together with aggressive pay down of debt, has had a favorable effect on our loan-to-value ratio which was below 75% at the last test date, benefiting Global Ship Lease in a number of ways. First, the interest margin paid on borrowings will decrease to 3.00% from 3.50% which will save approximately $2.5 million of cash interest in a full year. Second, the cash sweep mechanism to prepay borrowings no longer applies and prepayments become fixed at $10 million per quarter. Finally, the Company is permitted to pay dividends to common shareholders. We believe that the Company's business model supports the delivery of dividends to common shareholders over the long-term and the Board will continue to evaluate the dividend policy on a quarterly basis."
SELECTED FINANCIAL DATA – UNAUDITED
(thousands of U.S. dollars)
Three Three
ended months
2011 March 31,
Normalised Net Income (1)
(1) EBITDA and Normalized net income are non-US Generally Accepted Accounting Principles (US GAAP) measures, as explained further in this press release, and are considered by Global Ship Lease to be useful measures of its performance. Reconciliations of such non-GAAP measures to the interim unaudited financial information are provided in this Earnings Release.
Revenue and Utilization
The 17 vessel fleet generated revenue from fixed rate long-term time charters of $39.1 million in the three months ended March 31, 2011, down slightly on revenue of $39.2 million for the comparative period in 2010. The decrease in revenue is due to three days offhire for a planned dry-docking which commenced on March 28, 2011. During the three months ended March 31, 2011, there were 1,530 ownership days, the same as the comparable period in 2010. The three days offhire for dry-dockings in the three months ended March 31, 2011, gives a utilization of 99.8%. In the comparable period of 2010, there were two days unplanned off-hire, representing utilization of 99.9%.
Vessel Operating Expenses
Vessel operating expenses, which include costs of crew, lubricating oil, spares and insurance, were $11.0 million for the three months ended March 31, 2011. The average cost per ownership day was $7,218, up $205 or 2.9% on $7,013 for the rolling four quarters ended March 31, 2011. The increase is due to increased crew costs, broadly from the third quarter 2010, as a result of inflation and adverse exchange rate movements as a portion of crew costs are denominated in euros, and from higher spend on supplies, partly in anticipation of scheduled dry-dockings. The first quarter 2011 average daily cost was up 15.1% from the average daily cost of $6,269 for the comparative period in 2010 due to increased crew costs and higher spend on supplies and because spend in first quarter 2010 was disproportionately low.
Vessel operating expenses continue to be at less than the capped amounts included in Global Ship Lease's ship management agreements.
Depreciation of $9.9 million for the three months ended March 31, 2011 was the same as in the comparative period in 2010 as there were no changes to the fleet.
General and Administrative Costs
General and administrative costs incurred were $1.9 million in the three months ended March 31, 2011, including $0.1 million non-cash charge for stock based incentives, compared to $1.8 million for the comparable period in 2010, including $0.3 million non-cash charge for stock based incentives.
Other operating income
Other operating income in the three months ended March 31, 2011 was $0.1 million, down on $0.6 million for the three months ended March 31, 2010 which included $0.5 million tax refund relating to Marathon Acquisition Corp. prior to August 14, 2008.
As a result of the above, EBITDA was $26.2 million the three months ended March 31, 2011 down against $28.3 million for the three months ended March 31, 2010.
Interest expense, excluding the effect of interest rate derivatives which do not qualify for hedge accounting, for the three months ended March 31, 2011 was $5.6 million. The Company's borrowings under its credit facility averaged $532.8 million during the three months ended March 31, 2011. There were $48.0 million preferred shares throughout the period giving total average borrowings through the three months ended March 31, 2011 of $580.8 million. Interest expense in the comparative period in 2010 was $5.9 million on average borrowings, including the preferred shares, of $634.3 million.
Interest income for the three months ended March 31, 2011 and 2010 was not material.
Change in Fair Value of Financial Instruments
The Company hedges its interest rate exposure by entering into derivatives that swap floating rate debt for fixed rate debt to provide long-term stability and predictability to cash flows. As these hedges do not qualify for hedge accounting under US GAAP, the outstanding hedges are marked to market at each period end with any change in the fair value being booked to the income and expenditure account. The Company's derivative hedging instruments gave a $0.2 million gain in the three months ended March 31, 2011, reflecting primarily movements in the forward curve for interest rates. Of this amount, $4.8 million was a realized loss for settlements of swaps in the period and $5.0 million was an unrealized gain for revaluation of the balance sheet position. This compares to a $9.3 million loss in the three months ended March 31, 2010 of which $4.4 million was a realized loss and $4.9 million was an unrealized loss.
At March 31, 2011, the total mark-to-market unrealized loss recognized as a liability on the balance sheet was $39.5 million.
Unrealized mark-to-market adjustments have no impact on operating performance or cash generation in the period reported.
Taxation for the three months ended March 31, 2011 and in three months ended March 31, 2010 was not material.
Net income for the three months ended March 31, 2011 was $10.8 million including $5.0 million non-cash interest rate derivative mark-to-market gain. For the three months ended March 31, 2010 net income was $3.3 million, including $4.9 million non-cash interest rate derivative mark-to-market loss. Normalized net income was $5.9 million for the three months ended March 31, 2011 and $8.2 million for the three months ended March 31, 2010.
The leverage ratio under the loan-to-value test as at April 30, 2011 was less 75% and greater than 65%. Accordingly, the interest margin applied on amounts borrowed under the credit facility will decrease by 50 basis points to 3.00%. Further, the full cash sweep to prepay borrowings no longer applies and prepayments become fixed at $10 million per quarter.
Finally, Global Ship Lease may resume the payment of dividends to common shareholders.
The next loan-to-value test including updated market values of the Company's vessels will be as at November 30, 2011.
In the three months ended March 31, 2011 a total of $13.8 million of debt was prepaid leaving a balance outstanding of $519.0 million.
Global Ship Lease is not currently paying a dividend on common shares.
The Board of Directors reviews the Company's dividend policy on a quarterly basis, taking into consideration capital structure, growth opportunities, industry fundamentals, asset value trends and financial performance including cash flow, among others factors.
Fleet Utilization
The table below shows fleet utilization for the three months ended March 31, 2011 and 2010 and for the year ended December 31, 2010.
Three months ended ended
Mar 31, Mar 31, Dec 31,
Ownership days
Planned offhire - scheduled drydock
(3 ) 0 0
Unplanned offhire
0 (2 ) (3 )
Operating days
99.8 % 99.9 % 100.0 %
Seven vessels are scheduled to be drydocked in 2011 and six in 2012. This will lead to increased planned offhire.
The following table provides information about the on-the-water fleet of 17 vessels chartered to CMA CGM.
in TEUs (1) Year
Built Purchase Date
by GSL Remaining
(years) Daily
Ville d'Orion
4,113 1997 December 2007 1.7 $ 28,500
Ville d'Aquarius
CMA CGM Matisse
CMA CGM Utrillo
Delmas Keta
Julie Delmas
Marie Delmas
CMA CGM La Tour
CMA CGM Manet
CMA CGM Alcazar
5,100 2007 January 2008 9.8 $ 33,750
CMA CGM Château d'If
CMA CGM Thalassa
10,960 2008 December 2008 14.8 $ 47,200
CMA CGM Jamaica
4,298 2006 December 2008 11.7 $ 25,350
CMA CGM Sambhar
CMA CGM America
CMA CGM Berlioz
6,627 2001 August 2009 10.4 $ 34,000 12
(1) Twenty-foot Equivalent Units.
In addition, the Company has options to purchase two further vessels as follows.
Built Potential Delivery
Date to GSL Charterer Charter
Zim Alabama (2)
4,250 2010 December 2011 ZIM 6-7 (3) $ 28,000
Zim Texas (2)
4,250 2011 January 2012 ZIM 6-7 (3) $ 28,000
(2) Option to purchase from German interests for a payment of $61.25 million per vessel.
(3) Six-year charter from December 2011/January 2012 that could be extended to seven years at charterer's option.
Conference Call and Webcast
Global Ship Lease will hold a conference call to discuss the Company's results for the three months ended March 31, 2011 today, Monday, May 16, 2011 at 10:30 a.m. Eastern Time. There are two ways to access the conference call:
(1) Dial-in: (866) 966-9439 or (631) 510-7498; Passcode: 64345551
Please dial in at least 10 minutes prior to 10:30 a.m. Eastern Time to ensure a prompt start to the call.
(2) Live Internet webcast and slide presentation: http://www.globalshiplease.com
If you are unable to participate at this time, a replay of the call will be available through Monday, May 30, 2011 at (866) 247-4222 or (631) 510-7499. Enter the code 64345551 to access the audio replay. The webcast will also be archived on the Company's website: http://www.globalshiplease.com.
About Global Ship Lease
Global Ship Lease is a containership charter owner. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under long-term, fixed rate charters to top tier container liner companies.
Global Ship Lease owns 17 vessels with a total capacity of 66,297 TEU with an average age, weighted by TEU capacity, at March 31, 2011 of 7.1 years. All of the current vessels are fixed on long-term charters to CMA CGM with an average remaining term of 7.8 years, or 9.1 years on a weighted basis.
Reconciliation of Non-U.S. GAAP Financial Measures
A. EBITDA
EBITDA represents Net income (loss) before interest income and expense including amortization of deferred finance costs, realized and unrealized gain (loss) on derivatives, income taxes, depreciation, amortization and impairment charges. EBITDA is a non-US GAAP quantitative measure used to assist in the assessment of the Company's ability to generate cash from its operations. We believe that the presentation of EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. EBITDA is not defined in US GAAP and should not be considered to be an alternate to Net income (loss) or any other financial metric required by such accounting principles.
EBITDA – UNAUDITED
months months
Mar 31, Mar 31,
Adjust:
Depreciation 9,949 9,871
Interest income (13 ) (35 )
Interest expense 5,610 5,856
Realized and unrealized (gain) loss on interest rate derivatives (179 ) 9,274
Income tax 19 28
B. Normalized net income
Normalized net income represents Net income (loss) adjusted for the unrealized gain (loss) on derivatives, the accelerated write off of a portion of deferred financing costs and impairment charges. Normalized net income is a non-GAAP quantitative measure which we believe will assist investors and analysts who often adjust reported net income for non-operating items such as change in fair value of derivatives to eliminate the effect of non cash non-operating items that do not affect operating performance or cash generated. Normalized net income is not defined in US GAAP and should not be considered to be an alternate to Net income (loss) or any other financial metric required by such accounting principles.
NORMALIZED NET INCOME – UNAUDITED
Adjust: Unrealized (gain) loss on derivatives
(4,962 ) 4,879
Normalized net income
This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease's current expectations or forecasts of future events. Forward-looking statements include statements about Global Ship Lease's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and Global Ship Lease cannot assure you that these projections included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors.
The risks and uncertainties include, but are not limited to:
future operating or financial results;
expectations regarding the future growth of the container shipping industry, including the rates of annual demand and supply growth;
the financial condition of CMA CGM, our sole charterer and only source of operating revenue, and its ability to pay charterhire in accordance with the charters;
Global Ship Lease's financial condition and liquidity, including its ability to obtain additional waivers which might be necessary under the existing credit facility or obtain additional financing to fund capital expenditures, vessel acquisitions and other general corporate purposes;
Global Ship Lease's ability to meet its financial covenants and repay its credit facility;
Global Ship Lease's expectations relating to dividend payments and forecasts of its ability to make such payments including the availability of cash and the impact of constraints under its credit facility;
future acquisitions, business strategy and expected capital spending;
operating expenses, availability of crew, number of off-hire days, drydocking and survey requirements and insurance costs;
general market conditions and shipping industry trends, including charter rates and factors affecting supply and demand;
assumptions regarding interest rates and inflation;
changes in the rate of growth of global and various regional economies;
risks incidental to vessel operation, including piracy, discharge of pollutants and vessel accidents and damage including total or constructive total loss;
estimated future capital expenditures needed to preserve its capital base;
Global Ship Lease's expectations about the availability of ships to purchase, the time that it may take to construct new ships, or the useful lives of its ships;
Global Ship Lease's continued ability to enter into or renew long-term, fixed-rate charters;
the continued performance of existing long-term, fixed-rate time charters;
Global Ship Lease's ability to capitalize on its management's and board of directors' relationships and reputations in the containership industry to its advantage;
changes in governmental and classification societies' rules and regulations or actions taken by regulatory authorities;
expectations about the availability of insurance on commercially reasonable terms;
unanticipated changes in laws and regulations including taxation;
potential liability from future litigation.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Global Ship Lease's actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in Global Ship Lease's filings with the SEC. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Global Ship Lease undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Global Ship Lease describes in the reports it will file from time to time with the SEC after the date of this communication.
Interim Unaudited Consolidated Statements of Income
(Expressed in thousands of U.S. dollars except share data)
Three months ended March 31,
Time charter revenue
(106 ) (552 )
Non Operating Income (Expense)
(5,610 ) (5,856 )
Realized and unrealized gain (loss) on interest rate derivatives
179 (9,274 )
Income before Income Taxes
(19 ) (28 )
$ 10,839 $ 3,281
Weighted average number of Class A common shares outstanding
Diluted
Net Income in $ per Class A common share
Weighted average number of Class B common shares outstanding
Basic and diluted
Net income in $ per Class B common share
$ nil $ nil
Interim Unaudited Consolidated Balance Sheets
(Expressed in thousands of U.S. dollars)
Restricted cash
Prepaid expenses
Other receivables
Deferred financing costs
Vessels in operation
Other fixed assets
Intangible asset – vessel purchase options
Intangible asset – other
$ 972,144 $ 981,022
Liabilities and Stockholders' Equity
Current portion of long term debt
Intangible liability – charter agreements
Derivative instruments
Preferred shares
Stockholders' Equity
Class A Common stock – authorized
214,000,000 shares with a $0.01 par value;
47,188,978 shares issued and outstanding (2010 – 47,130,467)
Class B Common stock – authorized
20,000,000 shares with a $0.01 par value;
7,405,956 shares issued and outstanding (2010 – 7,405,956)
Additional paid in capital
(16,437 ) (27,276 )
Total Liabilities and Stockholders' Equity
Interim Unaudited Consolidated Statements of Cash Flows
Cash Flows from Operating Activities
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Amortization of deferred financing costs
Change in fair value of certain derivative instruments
Amortization of intangible liability
Settlements of hedges which do not qualify for hedge accounting
Share based compensation
Increase in other receivables and other assets
Decrease in accounts payable and other liabilities
(538 ) (2,772 )
Unrealized foreign exchange loss
Net Cash Provided by Operating Activities
Cash paid to acquire intangible assets
(26 ) —
Cash paid for purchases of vessels, vessel prepayments and vessel deposits
— (308 )
Costs relating to drydocks
Cash Flows from Financing Activities
Repayments of debt
(13,816 ) (4,092 )
Net Cash Used in Financing Activities
Net Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at start of Period
Cash and Cash Equivalents at end of Period
$ — $ —
Total interest paid during period
Income tax paid
$ 26 $ —
Exhibit II
INTERIM UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
THREE MONTH PERIOD ENDED MARCH 31, 2011
4 913,386 922,498
5 13,645 13,645
6 $ 40,000 $ 44,500
10 17,793 17,798
8 — —
See accompanying notes to interim unaudited consolidated financial statements
Interim Unaudited Consolidated Balance Sheets (continued)
9 $ 472 $ 471
10 179 (9,274 )
12 47,186,378 46,830,467
12 $ 0.23 $ 0.07
12 7,405,956 7,405,956
12 $ nil $ nil
10 (4,962 ) 4,879
10 4,783 4,395
10 (4,783 ) (4,395 )
Interim Unaudited Consolidated Statements of Changes in Stockholders' Equity
at $0.01
Par value Common
Stock Additional
Paid in
Capital Accumulated
Deficit Stockholders'
Balance at December 31, 2009
54,086,150 $ 541 $ 350,319 $ (23,305 ) $ 327,555
Restricted Stock Units (note 11)
— — 980 — 980
Class A Shares issued (note 9)
450,273 4 (4 ) — —
Net loss for the period
— — — (3,971 ) (3,971 )
58,511 1 (1 ) — —
Net income for the period
— — — 10,839 10,839
Balance at March 31, 2011
Notes to the Interim Unaudited Consolidated Financial Statements
On August 14, 2008, Global Ship Lease, Inc. (the "Company" or "GSL") merged indirectly with Marathon Acquisition Corp. ("Marathon"), a company then listed on The American Stock Exchange. Following the merger, the Company became listed on the New York Stock Exchange on August 15, 2008.
2. Nature of Operations and Basis of Preparation
(a) Nature of Operations
The Company has a business of owning and chartering out containerships under long term time charters. All vessels in operation are time chartered to CMA CGM S.A. ("CMA CGM") for remaining terms as at March 31, 2011 ranging from 1.75 to 14.75 years (see note 7). The following table provides information about the 17 vessels chartered to CMA CGM and which are reflected in these interim unaudited consolidated financial statements.
Built Purchase Date by
GSL Charter
(years) (2) Daily
4,113 1997 December 2007 1.75 $ 28.500
5,100 2007 January 2008 9.75 $ 33.750
CMA CGM Château d'lf
10,960 2008 December 2008 14.75 $ 47.200
4,298 2006 December 2008 11.75 $ 25.350
6,627 2001 August 2009 10.50 $ 34.000
(2) As at March 31, 2011
On November 8, 2010 the Company acquired purchase options giving it the right, but not the obligation, to purchase two vessels from German interests, on the first anniversary of their delivery by the builders to the sellers, for a payment of $61,250 per vessel. The purchase options are to be exercised no later than 270 days after the delivery of the vessels (one of which was in December 2010 and the other in January 2011) by the builders to the sellers. If the Company does not exercise a purchase option, the Company has no further liability. The charters to ZIM, subject to charterers consent to change of ownership of the vessels, will be for a remaining period of six years which could be extended for a further year at ZIM's option (see notes 5 and 8).
TEUs (1) Year
Built Potential
Delivery Date to
GSL Charterer Charter
ZIM Alabama
4,250 2010 December 2011 ZIM 6-7 (2) $ 28.000
ZIM Texas
4,250 2011 January 2012 ZIM 6-7 (2) $ 28.000
(1) Twenty-foot Equivalent Unit.
(2) Six years charter that could be extended to seven years at Charterer's option.
Notes to the Interim Unaudited Consolidated Financial Statements (continued)
2. Nature of Operations and Basis of Preparation (continued)
(b) Basis of Preparation
CMA CGM, the Company's sole source of operating revenue, announced in September 2009 that it and its lenders were exploring a potential financial restructuring to address its short and medium term financing requirements and that it was seeking to reduce and in some cases cancel certain vessel deliveries.
On January 28, 2011 CMA CGM further announced that, in accordance with agreements signed on November 25, 2010 between it and Yildirim Group of Turkey, it had issued $500 million in Redeemable Bonds, all of which were subscribed by the Yildirim Group. CMA CGM reported that this investment enables it to sustainably strengthen its balance sheet and secure its investment plan, while providing additional funds to support expansion. Further, CMA CGM has recently placed $475m of dollar-denominated senior notes that mature in 2017 with a coupon of 8.500%, and €325m of 8.875% euro-denominated senior notes that mature in 2019. The Company has not been involved in any of these matters.
CMA CGM has represented to the Company that with the recent bond issue, it has substantially completed its financial restructuring and consequently these financial statements have been prepared on a going concern basis.
The Company has experienced continued delays in receiving charterhire from CMA CGM, where between one and two instalments have been outstanding during 2011. Under the charter contracts charterhire is due to be paid every 15 days in advance on the 1st and 16th of each month.
As at March 31, 2011, one period of charterhire, due on March 16, 2011, was outstanding amounting to $6,770. This was received in April 2011. As at close of business on May 13, 2011, the latest practicable date prior to the issuance of these interim unaudited consolidated financial statements, charterhire due on May 1, 2011 totalling $6,442 was outstanding.
3. Accounting Policies and Disclosure
The accompanying financial information is unaudited and reflects all adjustments, consisting solely of normal recurring adjustments, which, in the opinion of management, are necessary for a fair statement of financial position and results of operations for the interim periods presented. The financial information does not include all disclosures required under United States Generally Accepted Accounting Principles ("US GAAP") for annual financial statements. These interim unaudited consolidated financial statements should be read in conjunction with the Company's financial statements as of December 31, 2009 filed with the Securities and Exchange Commission on September 16, 2010 in the Company's Annual Report on Form 20-F.
Recently issued accounting standards
In February 2010, the Financial Accounting Standards Board ("FASB") issued an additional accounting pronouncement that amended certain requirements for subsequent events (FASB ASC Topic 855), which requires an SEC filer to evaluate subsequent events through the date the financial statements are available to be issued and removes the previous requirement to disclose the date through which subsequent events have been evaluated. The amendments were effective on issuance of the final pronouncement. The adoption of this pronouncement had no effect on the interim unaudited consolidated financial statements of the Company.
Management do not believe that any recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material impact on the interim unaudited consolidated financial statements of the Company.
4. Vessels in Operation
$ 1,007,875 $ 1,008,330
Drydock expenditure – in progress
5. Intangible Assets
Vessel purchase options
Closing balance
On November 8, 2010, the Company signed agreements with the sellers of the two 4,250 TEU newbuildings to terminate the Company's obligations to purchase the vessels and granted the Company options to purchase the vessels. The intangible assets relating to these purchase options are the fair value of the purchase options on the date of the agreement. These intangible assets will be amortised from the date of acquisition of the vessels. If the purchase options are not exercised, the intangible assets will be written off (see notes 2(a) and 8).
6. Long-Term Debt
In December 2007 the Company entered into an $800,000 senior secured credit facility with ABN AMRO Bank N.V. (formerly Fortis Bank Nederland N.V.), Citigroup Global Markets Limited (formerly Citibank), HSH Nordbank AG, Sumitomo Mitsui Banking Corporation, KFW Ipex Bank GmbH and DnB NOR Bank ASA. Subsequently, Bank of Scotland plc joined the syndicate.
On August 20, 2009, the Company amended the terms of the credit facility. Under the revised terms, the loan to value covenant (being the ratio of the balance outstanding on the credit facility to the aggregate charter free market value of the secured vessels) was waived up to and including November 30, 2010 with the next loan to value test scheduled for April 30, 2011 and all undrawn commitments were cancelled.
Amounts borrowed under the amended credit facility during the waiver period bore interest at U.S. dollar Libor plus a margin of 3.50%. Thereafter, the margin will be between 2.50% and 3.50% depending on the loan to value, to be determined at the end of April, May, August and November each year with updated valuations to be obtained for the tests at the end of April and November.
Commencing June 30, 2010 the balance of borrowings under the credit facility was repaid quarterly in an amount equal to free cash in excess of $20,000 determined as at the previous month end subject to a minimum of $40,000 repayment a year on a rolling 12 month trailing basis. On this basis, repayments of the credit facility were made in the year ended December 31, 2010 amounting to $51,330. A further repayment was made on March 31, 2011 amounting to $13,816. As of April 30, 2011 loan to value was less than 75% and greater than 65%. Under the terms of the credit facility, when loan to value is less than 75% and greater than 65% (i) interest margin paid on borrowings decreases to 3.00% from 3.50% (ii) the cash sweep mechanism to prepay borrowings no longer applies and prepayments of borrowings become fixed at $10 million per quarter and (iii) the Company is able to make dividend payments to common shareholders.
The final maturity date of the credit facility is August 14, 2016 at which point any remaining outstanding balance must be repaid.
6. Long-Term Debt (continued)
The credit facility is secured by, inter alia, first priority mortgages on each of the 17 vessels in the security package, a pledge of shares of the vessel owning subsidiaries as well as assignments of earnings and insurances. The financial covenants in the credit facility are: a) a minimum cash balance of the lower of $15,000 or six months net interest expense; b) net debt to total capitalization ratio not to exceed 75%; c) EBITDA to debt service, on a trailing four-quarter basis, to be no less than 1.10 to 1; and d) a minimum net worth of $200,000 (with all terms as defined in the credit facility).
Long-term debt is summarized as follows:
Credit facility, at Libor USD + 2.50% to 3.50%
Less current instalments of long-term debt
Based on loan to value being less than 75%, the estimated repayments in each of the relevant periods are as follows:
Year ending March 31,
7. Related Party Transactions
CMA CGM is presented as a related party as it was, until the merger, the parent company of Global Ship Lease, Inc. and at March 31, 2011 is a significant shareholder of the Company, owning Class A and Class B common shares representing a 45% voting interest in the Company.
Amounts due to and from CMA CGM companies are summarized as follows:
Current account (below)
Amounts due to CMA CGM companies presented within liabilities
Amounts due from CMA CGM companies presented within assets
CMA CGM charters all of the Company's operating vessels and one of its subsidiaries provides the Company with ship management services. The current account balances at March 31, 2011 and December 31, 2010 relate to amounts payable to or recoverable from CMA CGM group companies.
CMA CGM holds all of the Series A preferred shares of the Company. During the three months ended March 31, 2011, the Company paid CMA CGM dividends of $276 (2010: $271).
7. Related Party Transactions (continued)
Time Charter Agreements
All of the Company's vessels are time chartered to CMA CGM. Under each of the time charters, hire is paid in advance and the daily rate is fixed for the duration of the charter. The charters are for remaining periods as at March 31, 2011 of between 1.75 and 14.75 years. Of the $1,443,954 maximum future charter hire receivable for the total fleet set out in note 8 (including for two vessels subject to purchase option agreements (see note 8) and to be chartered to ZIM, a company not related to CMA CGM), $1,321,202 relates to the 17 ships currently chartered to CMA CGM.
Ship Management Agreements
The Company outsources day to day technical management of its 17 vessels in operation to a ship manager, CMA Ships Ltd, a wholly owned subsidiary of CMA CGM. The Company pays CMA Ships Ltd an annual management fee of $114 per vessel and reimburses costs incurred on its behalf, mainly being for the provision of crew, lubricating oils and routine maintenance. Such reimbursement is subject to a cap of between $5.4 and $8.8 per day per vessel depending on the vessel. The impact of the cap is determined quarterly and for the fleet as a whole. Ship management fees expensed for the three months ended March 31, 2011 amounted to $485 (2010: $485).
Except for transactions with CMA CGM companies, the Company did not enter into any other related party transactions.
8. Commitments and Contingencies
On November 8, 2010 the Company acquired purchase options giving it the right, but not the obligation, to purchase two vessels from German interests, on the first anniversary of their delivery by the builders to the sellers, for a payment of $61,250 per vessel. The purchase options are to be exercised no later than 270 days after the delivery of the vessels (one of which was in December 2010 and the other in January 2011) by the builders to the sellers. If the Company does not exercise a purchase option, the Company has no further liability. The charters to ZIM, subject to charterers consent to change of ownership of the vessels, will be for a remaining period of six years which could be extended for a further year at ZIM's option (see notes 2(a) and 5).
Charter Hire Receivable
The Company has entered into long term time charters for its vessels in operation at March 31, 2011. The charter hire (including that relating to vessels due for delivery in 2011 and 2012, assuming the Company's purchase options are exercised), is fixed for the duration of the charter. The charters for the vessels in operation were originally for periods of between five and 17 years and the maximum future annual charter hire receivable for the fleet of 17 vessels as at March 31, 2011 and for the total contracted fleet of 19 vessels, taking account of actual or anticipated delivery dates and before allowance for any off-hire periods, is as follows:
Year ending March 31, Fleet operated
as at March 31,
2011 Total fleet to
be operated
Thereafter
9. Share Capital
At March 31, 2011, the Company had two classes of common shares. The rights of holders of Class B common shares are identical to those of holders of Class A common shares, except that the dividend rights of holders of Class B common shares are subordinated to those of holders of Class A common shares until at least the third quarter of 2011. Class B common shares will convert to Class A common shares on a one-for-one basis after the expiration of the subordination period and provided certain financial conditions are met.
Restricted stock units are granted periodically to the Directors and management, under the Company's 2008 Equity Incentive Plan, as part of their compensation arrangements (see note 11).
The Series A preferred shares rank senior to the common shares and are mandatorily redeemable in 12 quarterly instalments commencing on August 31, 2016. They are classified as a long-term liability. The dividend that preferred shares holders are entitled to be paid is presented as part of interest expense.
In addition to the outstanding Class A and B common shares and the Series A Preferred shares, there were 39,531,348 Public Warrants which gave the holder the right to purchase one Class A common share at a price of $6, and which expired on August 24, 2010. There were 5,500,000 Sponsor Warrants which had similar terms to the Public Warrants except that the exercise had to be on a cashless basis, and these also expired on August 24, 2010. Further, there are 6,188,088 Class A Warrants outstanding which expire on September 1, 2013 and give the holders the right to purchase one Class A common share at a price of $9.25.
As at March 31, 2011, total proceeds received in 2008 from the exercise of Public Warrants prior to the warrant expiry on 24 August 2010, were $3,027 (December 31, 2010: $3,027). Such funds were to be used to redeem the Series A Preferred shares, with a minimum redemption amount of $5,000. As this threshold has not been reached, none of the preferred shares have been redeemed and the funds remain classified as restricted cash in the balance sheet.
10. Interest Rate Derivatives and Fair Value Measurements
The Company is exposed to the impact of interest rate changes on its variable rate debt. Accordingly, the Company enters into interest rate swap agreements to manage the exposure to interest rate variability. As of March 31, 2011 a total of $580,000 of debt has been swapped into fixed rate debt at a weighted average rate of 3.59%. None of the Company's interest rate agreements qualify for hedge accounting, therefore, the net changes in the fair value of the interest rate derivative assets and liabilities at each reporting period are reflected in the current period operations as unrealized gains and losses on derivatives. Cash flows related to interest rate derivatives (initial payments of derivatives and periodic cash settlements) are included within cash flows from investing activities in the consolidated statement of cash flows.
Realized gains or losses from interest rate derivatives are recognized in the statement of income together with cash settlements. In addition, the interest rate derivatives are "marked to market" each reporting period to determine the fair values which generate unrealized gains or losses. The unrealized gain on interest rate derivatives for the three months ended March 31, 2011 was $4,962 (2010: loss of $4,879).
Derivative instruments held by the Company are categorized as level 2 in the fair value hierarchy. As at March 31, 2011, these derivatives represented a liability of $39,473 (December 31, 2010: $44,435).
11. Share-Based Compensation
Share based awards are summarized as follows:
Restricted Stock Units
Management Directors Weighted
Value on
date Actual
Un-Vested as at January 1, 2010
560,000 150,273 $ 4.21 n/a
Vested in January 2010
— (150,273 ) 1.83 1.46
Granted on March 1, 2010
— 58,511 1.88 n/a
Vested in September 2010
(210,000 ) — 4.93 2.67
Vested in October 2010
(90,000 ) — 4.93 2.65
Un-Vested as at December 31, 2010
260,000 58,511 $ 4.23 n/a
— (58,511 ) 1.88 5.04
Granted on March 17, 2011
15,000 17,886 6.15 n/a
Un-Vested as at March 31, 2011
Using the graded vesting method of expensing the restricted stock unit grants, the calculated weighted average fair value of the stock units is recognized as compensation costs in the consolidated statement of income over the vesting period. During the three months ended March 31, 2011, the Company recognized a total of $136 (2010: $311) share based compensation costs. As at March 31, 2011, there was a total of $321 unrecognized compensation costs relating to the above share based awards (December 31, 2010: $255). The remaining costs are expected to be recognized over a period of nine months.
The restricted stock units granted to management on August 14, 2008 were to vest over a period of three years; one third on the first anniversary of the merger, one third on the second anniversary and one third on the third anniversary. The vesting date of the first and second tranches was amended and a total of 260,000 vested in September and October 2009 and a further 260,000 vested in September and October 2010. The vesting date of the third tranche remains unchanged.
The restricted stock units granted to management on November 12, 2008 were to vest over a period of two years; half on the first anniversary of the merger and half on the second anniversary. The vesting date of the first and second tranche was amended and a total of 40,000 vested in September and October 2009 and the remaining 40,000 vested in September and October 2010.
The restricted stock units granted to management on March 17, 2011 will vest in September and October 2011.
The restricted stock units granted to Directors on May 18, 2009 and March 1, 2010 vested in January 2010 and January 2011 respectively.
The restricted stock units granted to Directors on March 17, 2011 will vest in January 2012.
12. Earnings per Share
Basic earnings per common share presented under the two-class method is computed by dividing the earnings applicable to common stockholders by the weighted average number of common shares outstanding for the period.
Under the two class method applied by the Company, net income is first reduced by the amount of dividends declared in respect of common shares for the current period, if any, and the remaining earnings are allocated to common shares and participating securities to the extent that each security can share the earnings assuming all earnings for the period are distributed. For the three months ended March 31, 2011, no dividend was declared (2010: nil dividends). Until at least the third quarter 2011, Class B dividend rights are subordinated to those of holders of Class A common shares. Net income for the period was allocated based on the contractual rights of each class of security and there was insufficient net income to allow any dividend on the Class B common shares and accordingly no earnings were allocated to Class B common shares.
Losses are only allocated to participating securities in a period of net loss if, based on the contractual terms, the relevant common shareholders have an obligation to participate in such losses. No such obligation exists for Class B common shareholders and, accordingly, any losses would only be allocated to the Class A common shareholders.
On August 24, 2010 39,531,348 Public Warrants exercisable at $6.00 to purchase Class A common shares and 5,500,000 Sponsor Warrants, exercisable on a cashless basis, expired. At March 31, 2011, there were 6,188,088 Class A Warrants to purchase Class A common shares at an exercise price of $9.25 outstanding which are due to expire on September 1, 2013. In addition, there were 292,886 restricted stock units granted and unvested as part of management's equity incentive plan and as part of the Directors' compensation for 2011. As of March 31, 2011 only Class A and B common shares are participating securities.
For the three months ended March 31, 2011 and the three months ended March 31, 2010, the diluted weighted average number of shares includes the incremental effect of outstanding stock based incentive awards but excludes the effect of outstanding warrants as these were antidilutive.
(Expressed in thousands of U.S. dollars except per share amounts)
12. Earnings per Share (continued)
(In thousands, except share data) 2011 2010
Class A common shares
Weighted average number of common shares outstanding (B)
Dilutive effect of share-based awards
Common shares and common share equivalents (F)
Class B common shares
Weighted average number of common shares outstanding (D)
Common shares (H)
Basic Earnings per Share
Net income available to shareholders
- Class A shareholders for period
- Class A shareholders for arrears
- Class B shareholders for period
- allocate pro-rata between Class A and B
Net income available for Class A (A)
Net income available for Class B (C)
Basic Earnings per share:
Class A (A/B)
Class B (C/D)
Diluted Earnings per Share
Net income available for Class A (E)
Net income available for Class B (G)
Diluted Earnings per share:
Class A (E/F)
Class B (G/H)
13. Subsequent Events
There are no subsequent events other than those disclosed elsewhere in these financial statements.


text:
De linker- en de rechterhand van de duivel (Italiaans: Lo chiamavano Trinità; Engels: They Call Me Trinity) is een Italiaanse spaghettiwestern uit 1970 met in de hoofdrollen Terence Hill en Bud Spencer.

Verhaal

Wanneer Trinity (Hill) erachter komt dat zijn broer de veedief Bambino (Spencer) in een slaperig dorpje als sheriff undercover werkt, besluit hij hem als hulpsheriff te helpen de mormonen in het dorpje te beschermen tegen Mexicaanse bandieten (onder andere gespeeld door Remo Capitani) en land opeisende veehouders.

Rolverdeling
 Terence Hill - Trinity
 Bud Spencer - Bambino
 Remo Capitani - Mezcal
 Steffen Zacharias - Jonathan
 Dan Sturkie - Tobias
 Gisela Hahn - Sarah
 Elena Pedemonte - Judith
 Farley Granger - Majoor Harriman
 Ezio Marano - Frank Faina / Weasel
 Luciano Rossi - Timmy / Timid
 Ugo Sasso - Sheriff Zoppo

Film uit 1970
Spaghettiwestern
Komische film
Italiaanse film
Film van Enzo Barboni

redpajama_set_name: RedPajamaWikipedia


Singer and rapper Nicki Minaj performed at the Victoria's Secret Fashion Show at the Lexington Avenue Armory in New York. Singing her hit Super Bass, Nicki was dressed in her trademark ostentatious clothes, as were the models. Nicki performed on the catwalk before teetering in high platform heels back to the stage.


text:
<!DOCTYPE html>

  <title>Stale state testing</title>
  <link rel="stylesheet" type="text/css"
        href="chrome://mochikit/content/tests/SimpleTest/test.css" />

  Mozilla Bug 676267

redpajama_set_name: RedPajamaGithub


text:
Home Aviation News Zelensky Wants To Build Second An-225
Interesting Airplanes
Zelensky Wants To Build Second An-225
Ukraine President Volodymyr Zelensky says he wants to see a partially built An-225 finished to replace the one destroyed in fighting in Hostomel early in the war with Russia. It will cost about $800 million to finish the second aircraft, which has been stored in good condition since getting to about 70 percent complete in 1994. In a speech to students, Zelensky suggested the country can't afford to not build the aircraft. "But in this case, it's not a matter of money, it's a matter of ambition," he told the students. "This is a question of the image of our country and all the excellent professional pilots who died in this war."
Zelensky didn't offer any details on how Ukraine would come up with the money but presumably it's a post-war project aimed at boosting national pride and honoring the pilots who have served in the war. "How many pilots gave their lives to bring everything there, from weapons to water. And how many wounded they took from there," he said. "A large number of these people died heroically. To build a MRIYA for the sake of the memory of heroes is the right state position."
Competitor Killed In STOL Competition Crash
Don't Hang Your Knickers On The Dryline
Best Of The Web: Controller Who Talked Down The Caravan Passenger
ALPA Rejects Boost In Retirement Age
Poll: Should The Airline Retirement Age Be Extended Beyond 65?
Stricken Caravan Pilot Recovering From Artery Tear
Starliner Docks With ISS
Space Flight May 20, 2022
Reader Mail May 20, 2022
Cameron G. May 22, 2022 At 11:32 pm
Would be great to see, but appears to be nothing more than political point-scoring. Unlikely to actually occur.
Cosmo A. May 23, 2022 At 12:44 am
Wasn't there talk of this some years ago? The second airframe was apparently stored a whole lot better than the Buran. Cameron G, maybe, of course, but I suspect Zelensky is less cynical than we're used to. Especially right now.
. May 23, 2022 At 5:09 am
MRIYA was built by the USSR. Without those technologies it is not realistic to complete it. If you build it with the new technology, you will get a Boeing.
Mike W. May 23, 2022 At 7:29 am
Not a problem. The American taxpayers will pony up and I'm sure the Big Guy will get his cut.
William B. May 23, 2022 At 10:00 am
You nailed it Mike. Well said.
Tim F. May 23, 2022 At 7:44 am
Once upon a time entire counties were inspired to achieve great things "before the decade is out." I hope Ukraine has that same spirit today.
William B. May 23, 2022 At 9:59 am
Sure , why not. After all the US will pay for it. Zelensky has no money. Even the 40 billion we just gave him will be used to pay the salaries of his soldiers because Ukraine is broke.
Gregory W. May 23, 2022 At 7:30 pm
Hunter will see that it gets the necessary funding.
Dave M. May 23, 2022 At 12:24 pm
A war can change a nations priorities with fresh ideas for its future survival. He's seeking to inspire the students and others of his country "To build a MRIYA for the sake of the memory of heroes is the right state position."
Zelensky is trying to cover all aspects of their immensely challenging post-war recovery, with this effort being just one. He's an inspiration as a leader in my book, for his country, in their time. The aircraft is merely a tool to inspire the citizens to keep focused after such a destructive period in their lives, and when completed, will inspire the world.
Besides, Musk or Bezos could finance the completion from financial rounding errors,…you boys listening?
The money needed is a rounding error to Musk or Bezos; maybe they're listening.
oops, double word wobble
Like others have said, Biden will put us further in debt to pay for it. Ukraine is no different than Russia. Both corrupt as hell.
Max M. May 25, 2022 At 5:35 pm
Well Bezos sure can, after all the money he makes from those terrible cloths he sells me he should do something good for the rest of us. Building an icon of aviation is not a bad way of doing it.
And while at it donate to me a new Eclipse jet I sure can use it in my air charter business.

redpajama_set_name: RedPajamaCommonCrawl


Wells Fargo is holding another Home Preservation Workshop in Pasadena, California, on June 8 and 9, 2011. The event is being held at the Pasadena Convention Center and will be open from 9:00 a.m. until 7:00 p.m. each day. The last day to register for this event is Monday, June 6th.
You can register online at www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067. If you can't make the event but would like more information on your options if you're having difficulty making your mortgage payments, call 1-800-678-7986.
The next Home Preservation Workshop will be at the Hyatt Regency Irvine in Irvine, California, on June 22 and 23, 2011. Registration is now available until June 20.


Goal: Visual Aid for explaining parts of the brain and how they work with each other. Eg: Reptilian Complex, the Paleomammalian complex (limbic system), and the Neomammalian complex (neocortex). Represented by a reptile, and mammals.
For use in seminars, and online website.


text:
Solskjaer: Ighalo a very important part of Man Utd
ByMedia1
The 31-year-old has sparingly featured for the Red Devils in the current campaign but his boss has revealed he remains a key part of his side
Manchester United manager Ole Gunnar Solskjær has reiterated Odion Ighalo's importance for the Premier League club.
The 31-year-old has been struggling for game time in the 2020-21 campaign despite his eye-catching performances in his debut season with the Red Devils.
The forward scored five goals in 19 appearances across all competitions last season to become the toast of the club fans.
His fine displays earned him a loan extension at the Old Trafford until January 2021 after teaming up with the side from Chinese Super League club Shanghai Shenhua.
Ighalo has, however, featured in three games in all competitions in the current campaign involving 207 minutes.
The forward is behind Anthony Martial, Marcus Rashford and Mason Greenwood in the pecking order and the Red Devils also recently bolstered their attack with the signing of Edinson Cavani from Paris Saint- Germain.
Despite the limited game time, the Norwegian tactician has assured the former Nigeria international of his future with the side.
"I think, as a team and club, we always want to get players in," Solskjær said in a press conference.
"I think Edinson coming in will try and do that to the Premier League, and we'll give him time to adapt to this team and to get his sharpness and fitness back.
"We've had some very good performances from Odion and he is still a very important part of this squad."
Ighalo will hope to play a part for Manchester United when they take on PSG in Tuesday's Champions League game.
The forward had previously featured for Watford, Udinese, Lyn and Changchun Yatai before he teamed up with Shanghai Shenhua.
Ighalo had 35 caps and 16 goals for Nigeria before his retirement from international duty after helping the Super Eagles to a third-place finish at the 2019 Africa Cup of Nations in Egypt.
Former France goalkeeper Martini dies aged 58
Ozil axed from Arsenal's 25-man Premier League squad
By Media1
Inter Allies to offer Coach Preko first test, as Olympics seeks comeback
Jan 14, 2021 Media1
Liberty Professionals vows to bounce back against Dwarfs
Kwame Opoku steals headlines as Liberty Professionals fall to Asante Kotoko in Accra
Spaks Radio
Spaks TV Live
https://youtu.be/7iWnceMy0bY
Faccebook Like
A California lawmaker's frantic text got impeachment ball rolling
WHO team arrives in Wuhan in search of origins of novel coronavirus
New Zealand to allow return of 1,000 international students
European companies warn of risks of an economic decoupling with China


text:
Q: JavaScript in Azure Boards I need to manipulate, calculate some fields in work-items in azure DevOps. Is their any tools like JS to do that?

A: You can't do calculations within Azure DevOps UI natively with out creating a extension.
What I have done in the past is to use the Service Hooks to call a Azure Function on work item update. Then you can do what ever calculation you want and update the work item.

redpajama_set_name: RedPajamaStackExchange


text:
The language of the medieval period of the game can provide an interesting avenue to be explored during play. Period language can be very colorful or just downright odd, and the use of a few phrases here and there during play can be quite a bit of fun. Adapting some of the language forms to a character's speech during a game can greatly enhance the air of fantasy that surrounds a gaming session. The player might start with a single catch-phrase for his character, such as "Yea, verily!" or "Hail and well met!" or "Good morrow" or "In sooth, …", or an oath like "Burning Spears of Light!", and build from there, throwing in a "Hold, vartlet!" or "Gadzooks!" or "'Zounds!" here and there. Simply changing the pronouns "you" and "your" for "thee", "thou", "thy" and "thine" for a posh (noble or wealthy) character, rolling the "r" as is done in the romance languages, all can instantly change the air and enhance the period feeling of one's roleplaying.
The following glossary presents a great many archaic turns of phrase and vocabulary, most of them Shakespearean but some earlier, with their meanings, to help the player get into the mood of the period. Shakespearean is about as early as the jargon still remains understandable, in large part, and what passes for "period" for the wide majority of fans of the milieu.
Glossary of Period Vocabulary
Period Term = Definition
affrighted = "frightened"
alack, alas = an exclamation or interjection of woe similar to "Woe is me"
an = "if", as in "I would have done, an he swore me to it." for "I would have done it, if he had made me swear to do it"
anon = "later" in the sense of "presently", "momentarily" or "shortly", as in "I will start shaking anon, my fear has not arrived yet." for "I will start shaking presently, as soon as I become afraid"
armed, in arms = clad in armor, regardless of whether those so described are bearing weapons or not
armed at all points = dressed and ready for battle or tourney
armed to all rights = completely armed and fully equipped, ready for war
arrant = "notorious", not to be confused with "errant"
arras = a tapestry hanging, named for the great city of weavers called Arras, in the Low Countries, where the great majority of the finest in quality among their kind were woven
art = "are", as in "Why art thou come?"
assay = to set out to accomplish a task
ay, aye = "yes", the first pronounced as the letter "a", the second as the letter "i"
beauteous rare sight = a person or thing of astounding beauty
behoove = to be to one's advantage, to be necessary, fit, or proper, as in "It behooves thee to learn of the pitfalls along the path thou wouldst tread"
betwixt = "between", often contracted as simply " 'twixt"
bodkin = a small, double-edged dagger-shaped knife, so named for the common Renaissance ladies' practice of concealing them in their bodices of their gowns
blackguard = a person of no honor or morals, pronounced "BLAG-gerd"
bring an action at law = to file suit in the courts
caitiff = one who is puny, sickly, poor, miserable, unfortunate and wretched; (later) a base and mean, wicked and cowardly and/or despicable person
cannikin = a small, can-like, handle-less drinking cup
certes = "certainly"
chaffer, haggle = to bargain, to argue the price of goods or services so as to bring it down
charlatan = one who makes unwarranted claims in selling goods and/or services, such as a vendor of quack remedies, prating on in public so as to gather a crowd, imposturing or having pretensions to great skill, ability, or knowledge he does not have; a "Trickster" or confidence-man
choler = "anger"
churl = a surly laborer or servant-type, sometimes used as an insult, depending on context; from the Nordic "ceorl"
clepe = to call, to name
clod-pate = block-head, dolt, slow or stupid; also "clod-poll", "clot-pate" or "clot-poll"
cloth-eared = hard of hearing
cloth-head(-ed) = thick-headed, slow, stupid; also "clot-head" or "logger-head", see clod-pate
comely = physically attractive
commonalty = the combined mass of the free and landbound peasantry; a collective term generally used by nobles and royalty, the clergy, and affluent townsmen – not unkindly meant
craven = "cowardly"
curmudgeon (in period) = a grasping, avaricious person, a miser
doggebold = hired muscle, a bully-lad and lackey; "dog-bold", or 'bold dog' with no more brains than an animal, who bares its teeth on its master's behalf, generally used as an insult
doth = "does", formal speech of the upper class
doughty = tough and strong, as in "a most doughty warrior"
drab = a woman of easy virtue, or to associate with such women, as in "He drabs about in most unseemly fashion"
ere = "before", as in "… ere long", or "… ere thou dost leave this place"
fetching = physically attractive
fie = either "to heck with it" or "for shame", as in "Fie on't! Ah, Fie!!", or "Fie, sir, fie! She trusted thee!"
flagon = a large, round-bellied pitcher with a narrow neck flaring out at the rim, with a thumb-tabbed lid hinged at the top of the handle in the same fashion as the lid on a German stein, with a standard capacity of 2 quarts and common throughout medieval Europe
fordoes = "ruins" or "dooms", as in "In so doing, he fordoes himself"
fortnight = a period of time of two weeks in duration
futter = a coarse commoner's (farmer's) term for physical intercourse
gadzooks = an exclamation or interjection, a "minced oath" used in polite company when stronger language is intended but giving offense must be avoided; a contraction and corruption of "God's hooks" referring to the nails from the cross, an offensive blasphemy
garderobe = "toilet", also called the "Jakes", "Necessarium" or "Reredorter"
gift = to give a present, as in "I gifted it her" or "See how he doth gift me with my every passing fancy"
go forth = when one must go to a particular place it is more proper to 'go forth' to that place, as in "Yea, and I did go forth to that place"
gramercy = either "thank you" or an exclamation of joy or surprise
hail = either praise, a greeting, origins, or to indicate good health, depending on context, as in "All hail his Lordship!" or "Hail and well met, my friend!" or "Whence dost thou hail?" or "He is a hail and a hearty one"
hence = "away", as in "Get thee hence!"
henceforth = from this point in time forward
hither = "here", as in "Bring it hither" or the phrase "hither and yon" (here and there)
hold = either "stop" or "still", as in "Hold, vartlet!" or "Hold thy tongue!"
huzzah = an exclamation of approval commonly used by audiences and crowds in the same manner as "Bravo!", pronounced "huzz-AH!"
is't = a common Shakespearean contraction for "is it"
jack = a common mug of shaped, sealed leather, prepared in the same manner as cuerbully
jackanapes = one who clowns about and carries on like a monkey for the amusement of others; a corruption of "Jack-of-Naples", a slang term given to the [performing] monkeys and apes popularly available in that city in the period of the game
knave = a thief, a person of low morals and no honor
lemman = female lover, mistress, but in the sense that the man has none other besides her
'lest = "unless", as in "… 'lest it come back to haunt thee"
"Let us away" = a proposition from one in a group for all included to depart for some other place
lief = "rather", as in "I'd as lief we'd not come hither"
list' = a common Shakespearean contraction for "listen"
losel, lousel = "louse"
lout = simple bumpkin, certainly unsophisticated, perhaps even a bit slow-witted; a somewhat disparaging or condescending term generally used to describe those from simple rural origins, especially when first arriving in a more urban setting
make haste = to hurry or to command another to do so
matter = an issue or point of debate or contention, as in A: "What is the matter?" B: "The matter 'twixt whom?"
mileway (MILE-way) = the smallest unit of time counted by medieval folk prior to the invention and widespread use of the mechanical clock; the generally accepted period of time it takes the average man to walk a mile, used especially by craftsmen to time the lengths of their beer breaks during the workday
miscreant = an unbeliever, holder of a false or unorthodox religious belief, a heretic or infidel, thus, a depraved, base and vicious person
mislike = doesn't like, as in "It mislikes me greatly" for "It doesn't please me at all"; the object of the dislike is the subject of the verb, rather than the object
moble(d) (MOB-uhl) = to wrap the head as in a veil or hood, hooded or veiled
mountebank = a charlatan, a confidence man, a boastful and unscrupulous pretender, a man of false pretenses and airs, trickery or buffoonery; a trickster
muddy-mettled = slow of wit, slow on the up-take, dense or stupid
nay = "no"
ne'er = "never"
niggardly = "stingy"
o'er = "over"
office = in administration, including government positions, the list or scope of one's duties and responsibilities are referred to as one's "office" and, as those duties and responsibilities may be many in number the term may be used in the same context in the plural, and the exercise of them also referred to as exercising one's offices; also, in telling time, any one of the eight times each day (every three hours) the churches ring the bells marking the time of day and calling to prayer the members of the clergy when they perform their offices of prayer, called "Prime"; "Tierce"; "Sext"; "Nones"; "Vespers"; "Compline"; "Matins"; and "Lauds"; these are based on the division of the hours of daylight and darkness into 12 equal portions, regardless of the time of year, rather than according to mechanically timed hours by which one can count the lengthening and shortening of the daylight hours and darkness with the changing of the seasons; see also "Time in the Medieval World"
oft' = "often"
parley = to discuss or negotiate, but not in the same manner as chaffering or haggling, much more refined after the fashion of courtiers and diplomats and noble opponents at war
passing strange = something confusing or beyond immediate comprehension, particularly used when the facts surrounding some event or persons actions or behavior do not make sense or jibe with what is already known of them
pate, poll = "head"
picaroon = a rogue, a thief, a brigand; a pirate or his ship
points = the laces or things attached to a piece of clothing, such as a doublet or ladies bodice or garment of padded armor, which enable another piece of clothing or especially plate armor to be tied on, thus securing it in place particularly for wear in battle, also in the case of sleeves, which often changed style faster than the basic styles of the rest of the clothing; also the metal fittings used to bind and protect the ends of these laces or thongs from fraying with wear and make them easier to thread through holes
prate = to speak in empty boasts, to tell meaningless or untrue tales, to chatter or babble without meaning, to talk much without saying anything of importance; the speech of people who prate on this way is referred to as "prattle"
puissant = highly skilled, masterful
rede = advice or counsel, pronounced as "reed"
riband = "ribbon"
sally forth = to rally and make a concentrated effort, or simply to depart a place on a quest, errand or other purpose; arising from the 'sally port' in a castle gatehouse which allows the besieged to strike out at their adversaries from a hidden or protected portal, thus outflanking the foe
seemly = "proper" or "dignified", in keeping with the common, socially accepted ideas and standards of propriety and respectability
set his cap for = one who is determined to get something or achieve some goal or prize "sets his cap" for it
sith = "since'
small-clothes = underclothes, underwear
smite = to strike a blow; past tense "smote", also "smitten"
smitten = to be in love or infatuated with another
sommat = "somewhat", but used in the meaning of "something"
sooth = "truth", as in "In sooth, I know not" for "In truth, I don't know"
sore hawk = in falconry, the proper term for a young hawk, distinguishable by the fact that he will not have achieved the full growth of his adult plumage
spurn = "reject", carrying also a connotation of ridicule
-st, -est = a modifying word ending, commonly reserved for use on verbs in the formal speech of the upper classes, as in "Canst thou not?", "Givest thou it unto me", "Dost thou truly think it?" or "whither goest thou?"
stew = a brothel, from the practice of prostitutes hanging about in public Roman-style bathhouses, some of which remained in service from that era while others of the same sort were built new in the period of the game
strumpet = a loose young woman
succor = aid, help, to give relief to, used as both a noun and a verb
swain = "lover" or "admirer", but the latter also carrying a romantic connotation
take my leave = a phrase indicating one's intent to leave, used especially when in the presence of social superiors phrased as a question when requesting permission to leave or to "withdraw" from their presence
tankard = a large straight-sided, mug-like pitcher with a thumb-tabbed lid hinged at the top of the handle in the same fashion as the lid on a German stein, with a standard capacity of 1 quart and common throughout medieval Europe
tatterdemallion = a ragged person, a ragamuffin; from the French for a wearer of tattered mail, indicating a poor, ill-kept man
thou, thee, thine = the various permutations of the pronoun "you" and the possessive "yours", as in "Thou hast the right of it" or "I have gifted it unto thee" and "It shall be thine in perpetuity, henceforth"
tiercel = in falconry, the proper name for a male falcon, only the females are properly called "falcons"
truepenny = a name for an honest person, arising from the practice of sealing business deals and concords or agreements and contracts with the exchange of a penny of good faith
tup = a coarse commoner's (farmer's) term for physical intercourse
turn one's head = to be in love or infatuated with another, to be so affected is to have one's "head turned"
twelvemonth = a year
unseemly = "undignified", inappropriate, beneath the standards of commonly socially accepted behavior, propriety and respectability
usurp = to take away from another, to deprive and deny the rightful owner, especially in the case of ownership of property (moveable and/or real), position, rank, or office, rights, privileges, or powers
vartlet = a man of no honor, a criminal, a blackguard
verily = "truly", as in "Verily, he did answer it me" or "Yea, verily, brother!"
vex = to trouble, annoy, irritate or anger; those so affected may simply be "vexed" or they may be "sorely vexed"
want, wants, wanting = "lack", "lacks", "lacking", as in "how dost thou find it wanting, sir?" or "It wants for even simple reason!" or "How dost thou want so and yet live?"
well met = a greeting, the equivalent of "good to see you" or "how fortunate to see you again", as in "Hail and well met, my friend!"
whence = from where, as in "Whence hast thou come?"
wherefore = "why", as in the line from Shakespeare's "Romeo and Juliet" : "Wherefore art thou Romeo? Forswear thy father and refuse thy name …" in which she wants to know why Romeo must be a member of the family warring with her own, begging him to turn his back on his family
whither = "to where", as in "Whither goest thou?"
ye = "you", pronounced "yee"
yea = "yes", pronounced "yay"
yon, yonder = "over there", usually accompanied by some gesture of direction
'zounds = an exclamation or interjection, a "minced oath" used in polite company when stronger language is intended but giving offense must be avoided; a contraction and corruption of "God's wounds" referring to the wounds inflicted on the Christ, an offensive blasphemy
Of course, this glossary is far from complete, but it is a good enough place from which a player can start. If the player enjoys sorting out archaic phrases and vocabulary, the words of Chaucer and Shakespeare are readily available, although Shakespeare is 100+ years later than the period proposed for the game. The true middle or old english of the 1300's and earlier is rather contorted and difficult to puzzle out without formal study, however.
The player should at least try to avoid the more blatant uses of modern language and vocabulary during game play. The wealthy commoners who will likely look down their noses at those characters who are socially below them should not be called "snobs" – they have or wear "lofty airs". Those who act in a snobbish or high-handed manner, especially when their right to do so is rather limited, are "uppity", or "getting above their station", or worse, "putting on airs". To say such a thing of a working-class commoner without reason is cause for a fight, and likely cause for a fight even if it is true. The odd things that happen in a character's life aren't "weird", they are "passing strange" – a "weird" is a person's doom, and when it comes upon him it haunts and drives him and cannot be avoided, usually ending in death. It is an archaic term even in the period of the game, much more readily understood and accepted by those who follow the Olde Ways of the Green Lords. The dazzling mosaic on the wall is not great "art", an "art" is a craft or trade which may or may not be represented by a guild, or one of the fields of study of magick, all of which may also be referred to as "mysteries" – or "art" may be a conjugation of the verb "to be". "Dude" is right out.
For the most part, even if the player doesn't wish to play with the language in this way, the fewer modern anachronisms that creep into play and the fewer the comments made that don't fit into the context of the game, the smoother the game the flow and the more vivid it will be for all involved.


Rising New York electronic duo the Knocks are set to release their EP, Comfortable, on February 18th. Ahead of that date, B-Roc and JPatt (real names: Ben Ruttner and James Patterson, respectively) have revealed "The One," a buoyantly fun track that features the Australian EDM stalwarts Sneaky Sound System.
The Knocks take their name from the early days of their career, when neighbors used to pound on the door of their rundown apartment in the East Village. They've since found notable success as DJs and producers, drawn comparisons to David Guetta and Daft Punk. The duo has also remixed scores of artists, including Lady Gaga, Rihanna, Ellie Goulding, Foster the People and Passion Pit.
In support of Comfortable, the Knocks will perform in New York on February 20th, followed by a tour that will include stops in San Francisco, Aspen and Seattle. Full tour dates are available at the band's website.


To communicate with your colour changing RGB LED Strip Lights you will need an RGB Controller. The controller consists of two parts, the remote and receiver. The receiver is lightweight and compact, making it easy to conceal and to install. Choose from an RF (Radio Frequency) or IR (Infra Red) receiver, depending on the level of control you require. Using the remote you will be able to manipulate the speed, brightness, mode and on/off function of your RGB LED Strip Lights.
» Sync Lights to Music!


text:
Barbora Štefková (born 4 April 1995) is a retired Czech tennis player.

Štefková reached a career-high singles ranking of world No. 154, on 27 February 2017. On 14 January 2019, she peaked at No. 100 in the doubles rankings. She won nine singles and twelve doubles titles on the ITF Women's Circuit.

Štefková won her biggest title at the 2016 Lale Cup in Istanbul, where she defeated Anastasia Pivovarova in the final.

Her WTA Tour main-draw debut she made at the 2016 Prague Open in the doubles draw alongside Tereza Smitková.
Štefková made her WTA main-draw singles debut at the 2016 Coupe Banque Nationale. She upset defending champion Annika Beck in the first round, before falling to Alison Van Uytvanck.

Due to reactive arthritis, she retired from professional tennis in June 2019.

WTA career finals

Doubles: 1 (runner-up)

WTA 125 tournament finals

Doubles: 2 (2 runner-ups)

ITF Circuit finals

Singles: 13 (9 titles, 4 runner–ups)

Doubles: 17 (12 titles, 5 runner–ups)

Performance timeline

Singles
Only main-draw results in WTA Tour, Grand Slam tournaments and Olympic Games are included in win–loss records.

Notes
 2013: WTA ranking–726,  2014: WTA ranking–441,  2015: WTA ranking–290.

References

External links

1995 births
Living people
Czech female tennis players
Sportspeople from Olomouc


Egyptian screen legend Omar Sharif passed away on Friday 10 July, aged 83.
Best known for his appearances in Arabic, British and American productions, Sharif became famous for his outstanding performances in Lawrence of Arabia (1962), Doctor Zhivago (1965) and Funny Girl (1968). During his career, he was nominated for an Academy Award, won three Golden Globe Awards and a César Award.
In an exclusive interview, Sharif shared the importance of one of his last productions and what the Arab world meant to him. The excerpt here was featured in Scene By Scene, an APSA-produced documentary series in association with CNN, and was broadcast globally on CNN International on 10 November, 2007.
The Scene By Scene documentaries presented outstanding works of filmmakers across the Asia Pacific region, spanning film studios, festivals and film sets in Cairo, Istanbul, Ho Chi Minh City, Seoul, Tokyo, Singapore, New Zealand, Bhutan and Beijing.
More Scene By Scene interviews here.


Items where Author is "Tyarakanita, Agustina"
Tyarakanita, Agustina (2018) The Analysis of Gender Repesentation in "When English Rings A Bell" for Seventh Grade Junior High School Students (A Multimodal Discourse Analaysis Approach). Other thesis, Universitas Sebelas Maret.
This list was generated on Fri Apr 26 12:23:34 2019 WIB.


text:
Innovance Scores $55M
News Analysis Light Reading 2/25/2002
Core optical networking startup Innovance Networks has closed $55 million in Series B funding, making it one of the industry's best-funded new companies.
Advanced Technology Ventures led the round, which comes from the same group of backers that kicked in Innovance's hefty first round in December 2000 (see Innovance Scores $75M ). Corning Inc. (NYSE: GLW) and JDS Uniphase Inc. (Nasdaq: JDSU; Toronto: JDU), for instance, renewed as "strategic" investors. Ex-JDSU chief Kevin Kalkhoven's KPL Ventures joined in, along with Archery Capital, Azure Capital Partners, Banc of America Securities LLC, Morgenthaler, and Thomas Weisel Capital Partners.
The funding announcement was expected (see Iolon and Innovance Deal: Good Omen?). But, interestingly, the round wasn't kept open to admit new investors, as had been rumored. Indeed, one of the first-round investors, PCG Ventures, has dropped out.
But losing one investor may be only a drop in the proverbial bucket, sources say. That Innovance has been able to raise so much money in the midst of a record slowdown is not only good news for the company, but also bodes well for the industry.
Innovance plans to use the money to launch its first product next quarter, as well as to fund ongoing development of other wares. Innovance's ultimate plan is to provide end-to-end optical transport for carriers, incorporating a kind of "wavelength-on-demand" style of provisioning.
Innovance seems well on its way to rollout. Last week, it announced a procurement contract with Iolon Inc., which makes tunable lasers (see Iolon and Innovance Deal: Good Omen?). That's just one of many contracts, Innovance says.
The startup has also embarked on a manufacturing plan that incorporates a state-of-the-art testing arrangement with suppliers, which it says will eliminate the costly mistakes made by optical companies in the past. Specifically, Innovance has developed its own test equipment using third-party software that provides a direct link between outside manufacturers assembling Innovance's optical modules and the company's own printed circuit board (PCB) plant in Kanata, Ontario. In effect, it's a "just in time" setup for optical equipment.
"We worked up front with our suppliers to create standard interfaces between our PCB controls and their module control software," says Innovance COO James Frodsham. The result, he says, is that outside suppliers can automatically create wares that fit the exact specs of PCB's back in Kanata -- as they're needed. This eliminates waste by ensuring that components are assembled only as they're required. It also speeds up manufacturing and makes for a better fit between the kinds of modules required for specific products.
This kind of preparation seems to be one element that makes Innovance's value proposition believable. But hasn't there been talk that the core is the toughest market to be in right now?
Yes, say sources. But Innovance's claim to fame, like heavily funded rivals Ceyba Inc. and PhotonEx Corp., is that it's not just making a core product, but will furnish gear for the edge. The whole package is being billed as a considerable savings for carriers.
Innovance's big purse is a tipoff that the idea has found favor in at least one high place. "Generally, when startups repeatedly get lots of money, it's a sign that they've got the go-ahead from some large customer," says one Wall Street analyst, who asked not to be named.
So far, there's no word on which customer that may be, although one rumor has it that Qwest Communications International Inc. (NYSE: Q) has expressed interest. This could not be verified, however.
It's a sign of the times that Innovance is being applauded for having got this far on its way to market. But much remains to be proven. Nothing's guaranteed these days, not even a carrier contract that's been signed and announced (see Corvis: How Low Can It Go?).
Innovance execs are careful to express their awareness of this. "We're feeling confident, but cautious," Frodsham says.
— Mary Jander, Senior Editor, Light Reading
http://www.lightreading.com Want to learn more about the impact of testing and measurement on the manufacture of optical equipment? Tune in to Light Reading's upcoming Webinar: "Optical Test Equipment in Manufacturing: Automation is Key," set for February 28. Click the following link to register: http://www.lightreading.com/webinars.asp#11506
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Ramona_ThePest 12/4/2012 | 10:53:20 PM
re: Innovance Scores $55M Totally dedicated to POT and voice?
Like the magazine High Times?
Wow...cool...
BigHead 12/4/2012 | 10:53:19 PM
re: Innovance Scores $55M Why would you harbour such bitterness and
hostility towards a company that you have no
affiliation with or interest towards ?
I do not work for Innovance though I do know
a number of people working there. Evidently
they are not the same ones that you know since
the people I talk to feel quite positive (though
cautious) about their future prospects.
I am however sick of reading meaningless attacks on other companies with no factual basis. This
industry has enough troubles as it is and frankly
any start-up getting funding should be treated as
good news. Creating rumours and making useless
remarks is simply unnecessary.
lite guide:
In order for me to work for a competitor, Innovance would need to actually have a product AND a customer. Fortunately, my company already has a product and several customers.
I am also NOT one of the poor souls laid off earlier this year (although I believe the correct term would be tune-up).
My information and opinions (this is a free country and open forum is it not?) stem from close ties to the organization through friends and former co-workers.
You OBVIOUSLY work for Innovance. Perhaps the impressively high IQ that accompanies your BigHead will make the unemployment process that much easier. Good luck, Big Head!
sgamble 12/4/2012 | 10:53:19 PM
re: Innovance Scores $55M I know a couple of people over at Innovance and was happy to hear that the B round went through.
On your point #2... that is a huge head-count for 18 months. I would have to think there would be some extras at that rate that wouldnt work out no matter what the hiring process is.
As for point #3 I agree. I work at an Ottawa optics company as well and I think it's a good sign.
You look in the last couple of months there have some huge B/C rounds. Pluris, Atrica, AcceLight to name a few. Although not a lot of details on the their valuations at that point...
Good job Innovance. Good luck.
SG.
magnet44 12/4/2012 | 10:53:19 PM
re: Innovance Scores $55M First off, I work for Innovance and IGÇÖd like to clarify a few points:
1)Innovance employees were asked if they wanted to participate in a stock-purchase plan, similar to most publically traded companies except that the investment is not liquid. Some employees did not participate; most did; some wanted more than the company could give as the share pool for this program was oversubscribed and the company had to limit the amount employees could take. The team believes in what they are doing.
2)When a company ramps employment from 0 to 340 in 18 months not every hire works out as expected. The less than 7% reduction had to do with employee fit, not funding.
3)This funding is good news for the optical sector in what has been a dismal year. ItGÇÖs unfortunate that the dialogue on lightreading is so bitter.
BigBrother 12/4/2012 | 10:53:18 PM
re: Innovance Scores $55M Do you always believe what management told you? From what I heard just before the Christmas break, Innovance announced to their employees that there would be no layoff until after the management found out how many % of employees would voluntee salary cut before they would decide how many would be layoff. But what did you see?
I think a lot of people were afraid of the job cut right after the layoff, so they participate on the salary cut in order to keep their jobs, the stock incentive is just to make it look better.
Is that really true? Did you forget something magnet44?
Aside from that, I believe $55 million is not a big number when Innovance have to finish a product, it is so expensive to build a long haul product when components are still very expensive and unstable. How many revisions before it will become a stable product.
LightMan 12/4/2012 | 10:53:06 PM
re: Innovance Scores $55M Can the person who is employed by Innovance clarify which company they are using to develop their wavelength provisioning system? Once upon a time they were looking at companies like AdventNet, Dorado, and Lumos. Anything selected? How is it working?
LightMan
//www.thesoftwareprompt.com
Petabit 12/4/2012 | 10:53:05 PM
re: Innovance Scores $55M "Where are the Petabits of the world gone?"
Oh, we're still around.
Just getting on with the day job, lurking around the boards, and not finding anything interesting enough to comment on.
I like Innovance, I have worked with many of the team there - good people. If the current climate is conducive to any startup surviving, then Innovance will be one of the survivors. New angle on the core network.
optical_man 12/4/2012 | 10:53:03 PM
re: Innovance Scores $55M Hey lightman,
yesterday you posted a question to the effect "whadya think of the ex cisco guys new startup? pretty nice huh?".
I asked you 'what is it called'. You never answered.
Any answer on this one yet?
layer3 12/4/2012 | 10:53:03 PM
re: Innovance Scores $55M Congrats to Innovance- well done.
Any way you look at this, it's good news for our industry- period. The good companies will get funded because VCs are sitting on billions in cash. Productive emnployees will keep their jobs at good companies- or they'll find work elsewhere. Hopefully, we've turned a corner-
Good luck to all-
re: Innovance Scores $55M Sure I did. It is right here.
http://www.lightreading.com/bo...
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Educational Resources Archive


Now that feels GOOD!!! We've only just landed and there's a ton of boat work to be done but I just had to zip to the beach and stick my toes in the water.
I am SO jealous. Our house is at about 58F (on the inside).Enjoy!


Love drawing flowers, I drew a shrimp once and loved it, and this is the baby of those two ideas. Really liked inking up this bad boy.
Design is for sale, hit me up at ahainesart [at] gmail.com for quotes!
junostudio said: Very nice work!


The Department of Musical Theatre is renowned as one of the top musical theatre programs in the world, and offers young performers the unparalleled opportunity to receive a premier university education along with intense, conservatory-style training. Hailed for its smart, skilled graduates, the program has one of the largest networks of alumni working on Broadway. The Department faculty comprises seasoned industry professionals and the field's top pedagogues, and the student body reflects the diversity of our country and the world. Individualism is valued here—we cultivate and support the unique strengths, talents, and hopes of each student.
The forward-looking curriculum prepares students to adapt to an ever-changing creative field. Guest artists visit frequently, offering students connections, insights, and current perspectives. A degree from Michigan prepares students for extraordinary careers that will have a dynamic impact on the communities in which they reside.
Michigan is known for fiercely loyal graduates, and Musical Theatre Department alumni are particularly engaged and accomplished. Graduates routinely return to Ann Arbor to work with current students and a robust alumni network provides incomparable support and connections in New York City and beyond.
At Michigan, students are a part of something larger. The balance of academics and arts attracts a very bright peer group who are focused on their craft while participating fully in collegiate life. The supportive atmosphere creates lifelong connections between students, alumni, and faculty and provides a foundation for a fulfilling and successful creative life.
Musical theatre students work in state-of-the-art facilities, including the Walgreen Drama Center, which houses the Arthur Miller Theatre; Stamps Auditorium; two rehearsal studios; costume, scene, camera, and sound studios; classrooms; and faculty offices. Students also study at the Earl V. Moore Building, which recently received a $29.5 million expansion and renovation, and they have access to cutting-edge audio and video recording studios, allowing for the highest quality documentation of their creative work. All SMTD students receive unprecedented entrepreneurial and career planning support through the school's EXCEL program (Excellence in Entrepreneurship Career Empowerment & Leadership), the nation's top program for funding student entrepreneurial ventures in the performing arts.
The University of Michigan is renowned for developing excellence. Combining the focus and rigor of a conservatory with the academic breadth and depth of a major public research university, an SMTD education is a transformative experience. Musical theatre students receive a comprehensive program of instruction, performance and pedagogy, as well as the inspiration and knowledge of a liberal arts course of study, instilling the values of innovation and inclusion, and our graduates are fully-engaged citizens eager to make a difference in their field and community.
I know when I am sitting in auditions, if the resume says 'U of Michigan' on it, I am going to be seeing someone who is talented and highly skilled. It has been my pleasure to work with many graduates of the program, and I look forward to many more.
Explore the academic options and resources offered through the Department of Musical Theatre.
For over thirty years, the Department of Musical Theatre alumni have been making their mark on stage and screen as top performers, creators, and behind the scenes leaders throughout North America and the world. Learn more about the achievements and recent activities of our successful graduates.
U-M Musical Theatre Wolverines TAYLOR LOUDERMAN as Regina George, ASHLEY PARK (BFA '13, musical theatre) as Gretchen Wieners, and ERIKA HENNINGSEN (BFA '14, musical theatre) as Cady Heron star in MEAN GIRLS on Broadway.
Carina-Kay Louchiey (BFA '18, musical theatre) joins Wonza Johnson (BFA '16, musical theatre), and Jen Sese (BFA '06, musical theatre) in the 2nd National Tour of HAMILTON.
Halli Toland (BFA '17, musical theatre) made her Broadway debut in CHARLIE AND THE CHOCOLATE FACTORY and is currently in the Broadway revival of CAROUSEL with Alex Gemignani (BFA '01, musical theatre) as Enoch Snow.
Joseph Sammour (BFA '17, musical theatre) is currently playing Crazy Mario in THE BRONX TALE on Broadway with Dani Spieler (BFA '09, musical theatre).
Storm Lever (BFA '15, musical theatre) is currently starring on Broadway as Duckling Donna in SUMMER: THE DONNA SUMMER STORY.
Etai Benson (BFA '09, musical theatre) stars as Papi in THE BAND'S VISIT on Broadway with Madison Micucci (BFA '13, musical theatre).
Benj Pasek (BFA '06, musical theatre) and Justin Paul (BFA '06, musical theatre) are the Tony, Oscar, Grammy, and Golden Globe-winning songwriting team behind the Broadway musicals DEAR EVAN HANSEN and A CHRISTMAS STORY, THE MUSICAL. Award-winning film projects include LA LA LAND (Lionsgate), TROLLS (Dreamworks Animation), and THE GREATEST SHOWMAN (FOX).
Gavin Creel (BFA '98, musical theatre) won the 2017 Best Featured Actor in a Musical Tony Award for his role as Cornelius Hackl in HELLO DOLLY! where he shared the Broadway stage with Will Burton (BFA '11, musical theatre) as Ambrose Kemper, Robert Hartwell (BFA '09, musical theatre), Michael Hartung (BFA '14, musical theatre), with Matt Rego (BFA '92, musical theatre) producing.