Blog CRMA & CRCI - Commodity Risk Management Associates & Commodity Risk Control Inc.
Why is Strategic Hedging Having a Revival These Days?
There was a time, not so long ago, that metal producers saw textbook opportunities to lock in forward revenue with strategic sell hedge programs. And it was a good move, until China's huge and unexpected expansion turned the hedges into disasters. Strategic hedging almost became extinct. Not so for consumers however, some of who laid on strategic buy hedge programs that have since served as role models for their industries. Since then, from both perspectives, lessons have been learned and mistakes have been avoided and that has lead to financial outcomes that have, in the most part, been optimized.
Hedging Inventory Part Three – How Much Risk do you Really Have?
One man's inventory is not another's, but If metal price volatility has weaponized your inventory so that its value swings lay waste to your financial results, then it's a problem you need to get a grip on. Many metal processing businesses face this exact issue but find that quantifying the price exposure it contains is trickier than assumed. Production people measure metal inventory by tangible presence, accountants deem it to be what's under operational control but risk managers must know volumes based on pricing events (Stock-At-Risk SAR). Rarely if ever are the three equal either; in fact they can be significantly different. We've seen operations with enough physical and accounting inventories to make an asset manager cringe, but when it came to SAR, they were inventory negative. Strange but true, and the reverse is just as possible.
You know what they say are the three most important factors for successful property owning – well it is the same with hedging metal units in inventory, or, more correctly, Stock-At-Risk – not location but optimization. Transactional, Cash Flow Hedging should be relatively straightforward so that while the expression "Perfect Hedge" is not always practically possible, it is the right way to aim. Not so for hedging Stock-At-Risk. Neither automatic execution nor perfection is possible. The use of informed disciplined management judgement is the key ingredient and the goal is to be able to say after five years that the overall financial outcome has been significantly better than doing nothing.
Hedging Inventory Part One – How, Why and Why Not?
Inventory hedging is the orphan of the commodity price risk management business. The source of more diametrically opposed opinions and different practices than any other topic, it makes us wonder where to begin. At the beginning, of course, but hold onto your hats it is a twisting and rather long ride! We will be following up with a second blog on the more nitty-gritty issues of, variable quotational periods, hedge roll-overs, use of discretion and accounting treatment, so watch this space.
How Do You Handle The Price Risks You Can't Hedge?
Large segments of the non-ferrous metals industry are blessed, risk-wise, by having their metal purchase and sale prices indexed to a hedging medium – LME, COMEX or Shanghai. In theory, these companies don't ever have to face any price risk at all – price correlation between commercial prices and hedge prices is 100%, so hedged price risk should be zero. Real life, of course, is not as simple. Many parts of the metals industry are more like the energy and agricultural complexes where raw materials and product prices relate to commodity exchange prices, but not exactly, so here are a few thoughts on how you might deal with these kinds of problem beyond using the classic "perfect hedge".
It is a truth universally acknowledged, that a metal price in possession of a daily reference, must be in want of an average. Or so it seems in the physical metals world. In the course of our adventures through the ecosphere of commercial contracts and pricing principles we see averages employed everywhere. And why not? They're simple, easily applied and save administrative overload. And anyone who didn't grow up under a rock knows exactly how to use them. Or maybe not. For in the world of business affairs it is practically certain that every concept properly applied will surely attract an indiscretion. We present four opportunities.
"We're a conservative company – we don't have commodity price risk here." Hmmm…something smells…sound the alarm! Every commodities based company has price risk in one form or another. The chain of buying and selling, especially when coupled with a conversion process in between, is complicated. Yet this is a common claim we hear when we talk with metal-based businesses. Put through Google Management Translate this assertion converts more specifically to "we don't really know about our risk and we don't track it". So would these same managers happily leave uncertainty in their own personal exposures (mortgage, car loan, health insurance, etc.)?
Managing Basis Risk – Problem or Opportunity?
When the Lord gave us Hedging as the answer to the industrialist's prayer to save him from risk, there was no promise made that we would be saved from thinking, or making market judgements. Commercial prices and their hedge instruments almost always leave some daylight between them, called basis risk. It's a common challenge for most hedgers and caused by a derivative price that does not move in lock step with the price of the physical exposure being hedged. Not all risks are created equal however. Challenges to some can be opportunities to others and this risk, in our experience, presents such a contradiction for players in the physical world like processors and traders. If your business is wrestling with what to do about basis risk here are seven considerations that you should bear in mind.
A fast drive, a twisty road on a slippery day and a fogged up windshield do not make a good combination. In fact, it's an outstanding way to generate an undesirable convergence between your car and a telephone pole. No intelligent driver would do it…would they? Yet when it comes to price risk this is exactly what many industrial commodity processors do and many times it takes a big price move (said telephone pole) for the company to realize that such a risk exists at all! Our clients will tell you that we perpetually expound on the criticality of creating visibility for this risk, it's just like pressing the defog button. For companies that are really serious about doing this, we've rarely seen so powerful a weapon as a price risk dashboard.
They say it takes an oil tanker 2 kilometres to turn. That's the distance between London's St. Paul's Cathedral and Tower Bridge or half the length of New York's Central Park. With that kind of handling well implemented planning is critical to steer a ship. Executing business price risk management strategy has parallels. Fortunately for ships modern electronics do much of the work. Business managers face a complicated manual process however. What makes it worse is the necessary involvement of many people in several layers in numerous places that don't understand how they matter. Crueler still is that risk means different things to each function and at each level. The peril of the "the broken telephone" ever hangs above like the sword of Damocles To avoid misunderstanding and inevitable disarray, risk planners use a simple communication framework to translate goals into results.
Plant engineers and commercial managers may be forgiven for thinking that learning about delta and gamma risk is one of those courses a busy person doesn't have to take. Nonetheless you will be surprised to learn how much the unconscious granting and taking of options, particularly in a commodity price environment, can affect your profitability. When such optionality is incorporated into your commercial agreements it's not always easy to diagnose. And if you're on the wrong side of it, in just one bad day it can bolt untethered through the gate and morph into runaway losses. Negotiator beware, vigilance is essential.
"Isn't our hedging supposed to solve this?" Each month-end, your stressed-out accountants sweat to explain your company's volatile P/L and risk reconciliations that show the hedge results are failing to offset company exposures. No one can blame the futures brokers either – hedge transactions have been reconciled and were executed as specified. The problem must be somewhere else – possibly buried in the hedge targets or potentially in the reporting? The immediate task is to identify the glitches before bad information leads to faulty decisions.
This is an observation we often hear. People who make it believe it to be true but things are not always as they seem. What follows is a description of commodity price exposure in the stainless steel industry and the pitfalls of complacency – which could just as easily apply to your business, with the names changed.
You didn't reel in that big client, you didn't find budget savings of $100K and you didn't bring the new plant in on target. In fact, as Price Risk Manager, you're the very person that management really doesn't want to hear about! As in Mission Impossible, "your mission, should you decide to accept it" is low profile – making financial results predictable and explainable. Should you fail, management will "disavow any knowledge of your actions". So if you're worried that your skilful work is heading you for career oblivion the good news is that purgatory need not hover above your head. There is plenty you can do to stay visible and appreciated and show you understand what impacts profits across the full spectrum of operations better most. Here are ten top tips to plunk your profile back on the fast track.
On May 11 1941, at the height of the London Blitz, Britons awoke to find the smoldering wreckage of the House of Commons. A high-explosive bomb followed by incendiaries had started a devastating fire. Later, as the wartime government debated what configuration should replace it, then Prime Minister Winston Churchill observed "We shape our buildings; thereafter they shape us". That assertion stands true today and underscores the long term importance of getting "structure" right. Its applicability also extends to so many more of man's designs, including those for the business world. Included in that fold are programs for Commodity Price Risk Management.
What is a Spread and Why Should a Metal Manufacturer Care?
If you, a manager in an industrial metals company, are told that you have to understand how Futures Market Spreads work to do your job, you will probably think we are crazy. Not so, at least not if you are responsible for any function that is affected by metal costs and revenues. We can assure you that understanding spreads is just as important as understanding expansion coefficients, transportation rates, customer creditworthiness, or whatever else you need to know to do your job.
For producing, processing and trading firms in the commodity industry, price risk can be like a predator looking to exploit weakness. There is nothing that it likes better than corner-cutting assumptions, made by over-worked management, that inadvertently turn the businesses into prey. Over the years and across the continents, CRMA and CRCI have run into a wide assortment of such specimens and in some surprising places. Here, we've listed some of the most common ones we see. Some are pure lethargy and in the right circumstances some are lethal. Have a look-through and see if you recognize any of these animals living close to home.
A metals industry executive once asked me, after a presentation on the wonders of risk avoidance by hedging, – "Do you mean to say you go to all this effort just to break even?" I was taken aback, but the reality is that breaking-even is better than going bankrupt – and enhancing your bottom line is better still. Either way you don't know how to justify "all this effort" unless you benchmark your performance. The CEO and CFO are entitled to see what they get in turn for funding the company's risk management efforts. Here are ideas to get you started.
Corporate calamities, whether in operations or administration, can make striking headlines. "Lack of Control" is an oft cited cause and banner headlines decry how even the world's largest and most respected companies can allow it to exist. It sends ripples of anxiety through global C-suites and shakes the confidence of investors and governments alike. Fortunately, there is no lack of information on the subject of control and its rudiments are well labelled and explained. Like any discipline however, commodity price risk management has its own spin on these elements. An exploration of a few of them is laid out here.
What Should a Price Risk Management Program Measure?
When it comes to Price Risk Management business executives don't really know what to look for. We understand what metrics we need to describe production, sales, inventory and working capital – but what about concepts like net exposure, price mismatch and mark-to market valuation? How can we make them leap from the page? Where do they fit into the pecking order of numbers whose bottom line is P&L or Shareholder Equity? Here are ideas to get there.


Seven: Le tabac c'est tabou, sauf avec des Bitcoin!
Quenton: J'accepte le jeu de UFC-Que choisir un serious game sur vos données personnelles!
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A comedy podcast hosted by two southern black people, Bianca and Jeremey. Best described as like listening to a catfish dinner. Come get you some goodness.


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Q: Question on binary operations A question defines A = {1,2,3,4,5,6} and a binary operation * such that $a*b=r$, where r is the least non-negative remainder when the product $ab$ is divided by $k$. Find k for * to be a binary operation.
The answer is five, apparently, but;
1: What's up with the "non-negative remainder" thing? Are remainders ever negative?
2: On trying out 1 and 5 as $a$ and $b$, the remainder on dividing it by k(which is 5) is 0. And if 0 is acceptable as th least possible remainder, then k wouldn't be 5, it would be 1, and the remainder in each case would be zero, wouldn't it?
Why did it work out this way?

redpajama_set_name: RedPajamaStackExchange


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Olympic History
What year was the first modern Olympic Winter Games held?
The first modern winter olympic games were held in 1924 in Chamonix, France.
What country first proposed the winter olympic games as separate from the traditional olympic games
How did the athletes prepare for the ancient olympic games
What other events were included in the ancient olympic games after the first ancient olympic games
Who ended the ancient olympic games
Q: What year was the first modern Olympic Winter Games held?
How many years passed between the beginning of the modern olympic games and the first olympic winter games?
28. The first modern Olympics was in Athens in 1896 and the first Winter Olympics was in Chamonix (France) in 1924.
What year were the first winter olympic games?
The first Winter Olympic games were held in 1924 in Chamonix, France.
In what year where the first winter Olympic games held?
When and where were the first modern olympic games held?
The first modern Olympic Games were held in Athens, Greece, in 1896.
What game was include in the first modern Olympic games held in 1886?
The first modern Olympic Games was held in Athens , Greece in 1896
The first winter Olympic games?
the first Olympic games was was in 1845
When was the first winter olympic games?
In the modern era what year were the first Winter Olympic games held?
The first Winter Olympics were held in 1924 in Chamonix, France.
When was the first modern Olympic Games held in Athens?
The first time the modern olympic games were held in Athens was the very first modern olympic games in 1896.
When was the Winter olympic games were first held in?
The first Winter Olympic games was held in Chamonix, France in 1924.
When were the first winter olympic games held?
The first Olympic Winter Games were held in?
What was the year of the first winter Olympic games?
The Olympic Winter Games were first held in 1924 in Chamonix, France.
Created By Carlo Kiehn
Created By Richard Grimes
Created By Marvin Schuster

redpajama_set_name: RedPajamaCommonCrawl


For direct or indirect references to external websites ("hyperlinks"), which lie outside the area of responsibility of the author, a liability obligation would come into force only in the case in which the author has knowledge of the contents and it would be technically possible and reasonable to prevent the use in case of illegal content.
All within the internet offers. mentioned and possibly protected by third party trademarks and trademarks are subject without restriction to the provisions of the applicable trademark law and the ownership rights of the respective registered owners. Just because of the mere mention is not to draw the conclusion that trademarks are not protected by rights of third parties!


Have you allowed your e-mails to be in charge for too long?
If you are like most people the first thing you do in your office is check your e-mails. I used to be the same way and when I did that I would let the inbox rule how I started my day.
I had far more important things to do but I would brush those aside as I dealt with e-mail after e-mail thinking I was getting important stuff done…but just kidding myself.
First thing when you get to your office is to do a brain dump for 5-10 minutes. Dump everything you need to do on paper.
Highlight the top 3 things that matter most to you. Doing this will make sure you start your day by focusing on what is most important to you.
Go to your calendar and find a 30-minute block of time to take of these 3 items. It doesn't have to be first thing, but sometime today.
Now you've taken control of your day and NOW you can open up your inbox.
I've been doing this and it has changed everything. Am I tempted to look at the e-mails? You bet. But now I'm in charge of my day and not all the e-mails.
One thing that I do differently than Mel teaches is that after I do my brain dump I ask "What will I do today to reach my Optimistic Number of $___________?" My Optimistic Number is the amount that I want to book every month in my business. I look at all the projects, ideas, and to-do's and highlight the 3 that will make my business grow.
The biggest difference between entrepreneurs who make it and those who don't is their confidence. Build your confidence by setting your own priorities each day.


Ladies will enjoy this encouraging weekend of Biblical teaching and excellent worship times mixed with just the right amount of activities and relaxing times.
Ride a horse in the national forest, trap shoot, jump off the Leap of Faith, or just go for a walk. Take advantage of this great opportunity for making lifelong memories and recharging your spiritual batteries.
Rachel's transparency and authenticity in her relationship with Christ makes an impact on the lives around her. She is a gifted communicator with great ability to articulate and apply God's Word in everyday language for everyday situations through stories and Scripture. She desires to encourage women in their relationship with God. As a former educator and homeschool mom, she loves teaching. She is married to Michael and has three adult children. Rachel serves at Elmbrook Church in Brookfield, WI, in ministries that allow her to use her gifts of music and drama.
Retreaters can come on Thursday after 1 pm. Only lodging is available on Thursday. No meals or program will be provided until dinner on Friday, but we will provide you with a map of local area restaurants.
If you would like to promote this event and encourage ladies from your ladies' ministry, work, or any other place to come to Silver Birch Ranch, we would be happy to provide you with promotional materials. Contact our office at 715-484-2742.
Specialty Breakfasts - We have a tradition of preparing specialty breakfasts for you, in addition to the breakfast provided in the Dining Hall. This year we will once again be offering Buckboard breakfast and Loggers' breakfast.
Buckboard Breakfast - The buckboard wagon will take you down Sawyer Lake Road, into the Nicolet National Forest, and finally to Split Oak, our breakfast site. Here you will find hearty scrambled eggs, hash-browns, bacon, and pan-fried toast, prepared over an open fire by one of our wranglers.
Loggers' Breakfast - Let us serve you as you start your morning out right. Premium blueberries carefully blended into fluffy pancakes are served with sausage, juice, and coffee at this wooded site near the water's edge.
Free Time Options: Horseback Riding, Climbing Wall & Leap of Faith, Zip Line, Trap Shooting, Volleyball, Tennis, Mini Golf, Disc Golf, Pontoon Rides and more.
We want you to enjoy a wonderful weekend without your normal family responsibilities. Please find care for your children so that you and others can enjoy time away from it all.


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Guyana Foundation
The Guyana Foundation Paving the Way for a Better Tomorrow
With a mission statement that promises "to release the power of people globally to assist Guyanese to transform their communities, bring fulfillment and well-being to their families, enabling them to build relations of trust and friendship among themselves irrespective of race and beliefs" The Guyana Foundation, which was established in January 2013, has been paving the way by tangibly reaching out to support families.
Students of Santa Rosa Primary donate a painting to Managing Director of The Guyana Foundation, Anthony Autar, after the school was given a $2M donation to upgrade its facilities.
(Extreme right) The Foundation's Founder, Mrs. Supriya Singh-Bodden and trustees of the organisation paying a courtesy call on President Donald Ramotar last year to present the entity's objectives.
The entity is located at 203 Duncan Street, Lamaha Gardens, Georgetown. It is a locally registered non-profit trust. Managing Director Anthony Autar related that at its formation, The Guyana Foundation team presented objectives to President Donald Ramotar and to Opposition Leader Mr. David Granger. "Both leaders acknowledged our goals and wished the organisation well."
He further explained that the Foundation has identified eight broad goals for its work.
"The gift of light (a solar powered light kit usually given to remote communities without electricity), youth, and women's empowerment training programmes, small scale community renewal projects, care of the elderly programmes, literacy programmes, a mental health awareness programme and the publication of a quarterly magazine "Mosaic" to celebrate the richness of Guyana's multicultural heritage."
The Foundation's work
Once the Foundation was established, it immediately began fundraising – reaching out to families, trust funds, individuals, and companies locally and internationally.
The Director noted that among the very first donations was one for US$10,000 (approx. G$2M), which was given to the Santa Rosa Primary School in Region One. The Foundation was approached by the parent-teacher group .The money was used to rebuild and refurbish the water and sanitation system in the school which, at the time, was in urgent need of attention.
In Wauna, also in Region One, a commercial oven was donated to the Silver Queen Women's Bakery, which has provided those associated with it, the opportunity of a sustainable source of income.
In March 2013, the Foundation's Founder, Mrs. Supriya Singh-Bodden organized a free event planning seminar which was held at 'De Impeccable Hall' in Brickdam, Georgetown. Over 300 participants received training at that forum, in "Event Planning as a Career."
Meanwhile, approximately half of the residents of Breezy Point in Buxton, East Coast Demerara, have already benefited from a donation of solar light kits. And plans are in progress to distribute another set of these kits in March to the remaining families in the community.
At Pigeon Island, also on the East Coast of Demerara, a foot bridge was built, and an eye clinic was held where spectacles were distributed and an agreement was reached with Guyana Water Incorporated for the community to receive potable water.
With a long list of achievements since its conception, the foundation capped off its 2013 events with a Christmas Concert at the Theatre Guild to celebrate underprivileged children and families that it had worked with during the year. The full house of attendees was treated to a rich and diverse array of performances by Guyana's top artistes.
MENTAL HEALTH PROGRAMME
This year, the Foundation has decided to bring forward and launch phase one of its mental health programme, which seeks to raise awareness and sensitise the population about mental health issues.
As headlines appeared of more suicides and death cause by mental breakdowns, the Foundation decided that the needs in the mental health sector were so great, it could not afford to wait any longer.
With the support of trained professionals under the guidance of Mr. Autar, who has a background in mental health law, and was a Health Law & Policy Fellow at Hofstra Law School in New York, the Foundation has published mental health awareness advertisements in some of the local newspapers, begun distributing posters on mental health issues in different parts of the country, and has also launched a mental health page: www.facebook.com/mentalhealthgy. On this page, followers find helpful videos, articles and stories about people who have been through, or are currently struggling with some kind of mental health problem.
Since the launch of this programme, the Foundation has heard from many families who have reached out seeking information about where they may obtain treatment and support services locally. While the Foundation does not offer any kind of medical advice, the public is solely assisted to locate professional mental health services, and individuals who can help.
According to Autar, "there are many people in desperate need of mental health services in Guyana, who don't know where to find help. These are people from all walks of life and all social classes, ranging from those individuals living on the streets, to the wealthy. What all of these families have in common is a deep sense of frustration, a desperation to see their loved ones get better and to stop suffering. Every single human life is valuable. That drives the sense of urgency behind this, and all our other programmes. If we can raise awareness to assist one person to get professional help then we would have accomplished much".
While the Foundation has only been in existence for one year – celebrating its first anniversary on January 28, last – it has already touched and improved the lives of hundreds of Guyanese through the various projects carried out.
Mrs. Singh-Bodden commented that "for too long the people of Guyana have been standing as spectators in a political arena hoping that when their team wins their lives would drastically improve. The ground at their feet is sinking daily as they wait. Poverty, mental health issues, poor sanitation, inadequate infrastructure, and so many other ills plague each and every community. The time has come for us to extend a helping hand to each other. Our Foundation will continue to do exactly this. There is much work to be done. It will take a long time and it will be a difficult task for any one political party to set the country on even keel. The country needs unity at all levels. At the community level, we should live by example, If our neighbour's bridge needs strengthening, we should help him or her to strengthen it. We need to bring our country back to where it should be, guided by compassion, fairness and respect for one another. With this, all things are possible."
The Board of Trustees includes Mrs. Singh-Bodden, Stanley Ming and Eric Phillips. The Foundation says its doors are open to individuals everywhere, groups, foundations, and international organizations willing to assist in furthering its mission.
"We are looking forward to welcoming local individuals irrespective of party affiliation, ethnic or religious persuasion to join our board and our hope is that a local patron will eventually be found," Singh-Bodden noted.
The Foundation depends on its volunteers to assist in fulfilling its mission to improve the lives of Guyanese. Members of the public who wish to volunteer can call 225-4414 or email guyanafoundation@gmail.com.
They can also follow the entity on https://www.facebook.com/theguyanafoundation
Source: http://www.kaieteurnewsonline.com/2014/02/09/the-guyana-foundationpaving-the-way-for-a-better-tomorrow/
Newer PostGuyana Foundation Distributes Solar-Powered Light Kits at Breezy Point
Older PostGuyana Foundation to Launch Mental Health Program
The Guyana Foundation, 178 Hague Back , West Coast Demerara , Guyana(592) 276-3057guyanafoundation@gmail.com
THE GUYANA FOUNDATION, 178 HAGUE BACK, WEST COAST DEMERARA, GUYANA
GUYANAFOUNDATION@GMAIL.COM
Header photograph courtesy of James Deeges of Guyana Photography by James Deeges


If you ever feel like you're constantly living hand-to-mouth and never getting ahead, take a minute to see if anything on this list sounds familiar. Oddly enough, most people make the same mistakes that end up putting roadblocks that stunt their potential for financial success. What you may not realize is that the banks and credit card companies are counting on this - so much so, that their products are developed based on poor buying and payback habits.
No one likes living hand-to-mouth, yet according to an article on CBSnews.com, in 2014, over 38 million American families are living hand-to-mouth. If you're not familiar with the term, it means living paycheck-to-paycheck without any extra cash flow. By the time you have spent your current paycheck, you are frozen until you get the next. This equates to one in three Americans, which is one-third of our country's residents.
Using credit cards for essentials is the first huge credit card mistake. Not paying off balances as you spend is the second. Did you know that when you don't pay off your balances, you wind up paying around three-times more than the original amount of the item?
The credit card companies are counting on it, in fact, as that's how they make a substantial amount of interest. According to debt elimination expert Kevin Lane, "The same money you are paying in interest could be going into your pocket. You would actually be building wealth instead of handing money over to credit card companies."
If you have ever watched the show House Hunters on HGTV, you know that 99 percent of realtors will encourage buying a home with a higher sales price that the buyers originally intended. Why? Because they are paid through commission-only, so the higher the price, the higher their portion.
Not only will they encourage it, they will justify it by telling you it is a financially sound plan because you will get a bigger interest write-off on your taxes. What they don't tell you is that unless the sales price is in the millions, you may only be saving a few hundred extra on your taxes. What you are left with is a hefty mortgage that often puts a strain on your finances.
Some financial guru along the way encouraged people to sock away money no matter what the financial situation. However, we beg to differ. Consider this: if you are paying a higher interest on debts than the interest you are making on your savings account, then you are actually losing money.
It's a simple math equation. For example: if you are paying 20 percent interest on your revolving credit card balance of $2,000 and your savings account is only making 2 percent, your money is much better spent paying off the credit card balance until it hits a zero balance. If you can't pay it off in a couple of payments, then be sure to pay more than the monthly minimum - an amount that is intended to keep you in debt. Once the debts are paid off, you'll have more than enough money to start creating your wealth account. Debt elimination is a huge step in creating wealth.
Emergencies happen to all of us. It's doubtful that anyone is immune, however some people are much more prepared than others. One of the best ways to ensure you will always have extra money when you need it is to create an emergency account. Financial pundit Suze Orman suggests saving enough money to cover expenses and debts for eight months.
Many young couples figure this is a pie-in-the-sky amount and forget about it entirely. Yet, any amount socked away for emergencies will end up saving you in the long run. Here's why: when you are in emergency mode, you are stuck with whatever quick fix you can find to eliminate the emergency. If your washing machine breaks down, for example, you can't wait for the next sale or waste time applying for a personal loan. Most people will wind up buying the most convenient fix available, which will inevitably cost more. Bottom line is that not having an emergency fund will ultimately get you in worse financial shape, with few exceptions.
Many people who are not happy with their financial situation are also unaware of how much money they spend on life's little extras, such as fancy espresso coffees and buying items that seem essential, but aren't.
If you keep a log for one month, it is likely you will see exactly why you don't have any extra money. If you buy two coffees per week, you are probably spending $32 a month versus making coffee at home for pennies. If you go out for lunch every day rather than bringing it to work, you are probably spending close to $50 per week, or $200 per month. Making lunch will probably save at least two-thirds of that amount. It is often these little extras that can be easily eliminated and will give you money to pay off debt and start saving.
If you have never read the non-fiction book "The Millionaire Next Door" by Stanley and Danko, it is highly recommended. It will give you a picture of what the self-made millionaires in our country do to get and stay wealthy.
One of the key findings is that they do not buy brand new cars, but rather, buy used cars that hold their value, such as a high-end Lexus. Then every couple of years, they sell their used car for almost the same amount as what they paid for it. According to edmunds.com, a new car loses its value the minute you drive it off the lot... so why waste the money when you can purchase a slightly used auto for a price that is equitable to the car's value?
Many people who have equity in their home from paying down their mortgage, use home equity loans like it was free money. However, what they don't take into consideration is that they have added to the overall mortgage by removing the asset they created from getting a lower balance.
According to an article in Bankrate.com, many use their equity loans to pay for college, pay down credit card debt and more. Ray Cavazos, Money Management International spokesperson, gives his perspective, "With home equity loans, you are placing your home on the line. If you default on this loan, you could lose your house."
Let's say you're the person in the household who actually pays the bills. Each month you find yourself pushed to pay bills and have money left over. Do you struggle alone or let your family members know the situation? Do you put everyone on a budget or figure you will let the chips fall where they may?
Creating a family budget is not that difficult and will do wonders for your health and stress-level. Start by having everyone in the family record their daily spending for a month or even a week. Compare the totals with outgoing debt expenses and see which extraneous items can be eliminated or reduced. Hold family members accountable by reducing their next month's spending allotment with the amount they were over, as it will immediately force the issue. Before you know it, everyone in the family will be working together and the family budget will continue to do its job.
Knowing how much to save for retirement is difficult, yet an important step toward creating a worry-free future. Many avoid this topic, as it seems light-years away. However, time sneaks up on everyone. Before you know it, you have passed your peak earning years and will start to feel panic and a bit of fear as to how you're going to make up for it.
The truth is that if you start saving even $100 per month at an early age, you will have nothing to worry about. Let the Baby Boom generation be a lesson to all. Since the group didn't heed this lesson early on, many boomers are having to work until age 70 and longer. Expenses have more than doubled over the years and income has remained the same or even reduced. It's a panic that can be avoided.


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Als Diskordanz (nach lateinisch discordans "nicht übereinstimmend") bezeichnet man in der Geologie das winkelige oder unregelmäßige Aufeinanderliegen von Gesteinsschichten. Diskordanz ist in der Stratigraphie der Gegenbegriff zur Konkordanz.

Verschiedene Prozesse können Diskordanzen verursachen:
 Eine Winkeldiskordanz oder auch Tektonische Diskordanz bildet sich gewöhnlich in Sedimentgesteinen, die durch tektonische Bewegungen wie Dehnung, Stauchung, Faltung, Hebung und Senkung, oder durch singuläre vulkanische Ereignisse verkippt werden. Die herausgehobenen Gesteine werden dann erodiert, zum Beispiel bei einem Rückgang des Meeresspiegels (Regression). Spätere Sedimente, die unter anderem bei erneutem Meeresspiegelanstieg (Transgression) abgelagert werden können, liegen wieder waagerecht und bilden folglich einen Winkel mit den älteren Gesteinsschichten. Zwischen den beiden Gesteinspaketen (dem Hangenden "oben" und dem Liegenden "unten") befindet sich nun eine Schichtlücke ( Hiatus).Die genaue Rekonstruktion der Verhältnisse von Ablagerungen und Diskordanzen zueinander ist von großer Bedeutung für das Verständnis der zeitlichen Entwicklung eines Gebirges (Orogenese).
 Wenn die Schichtlücke nicht durch tektonische Bewegungen erzeugt wurde, sondern nur durch Erosion oder Sedimentationsunterbrechung, zum Beispiel, wenn sich ein Fluss in den Untergrund einschneidet, und das selbst erzeugte Tal mit Sedimenten füllt, so spricht man von Erosionsdiskordanz.
 Die Kreuz- oder auch Schrägschichtung, die zum Beispiel bei der Sedimentation in fließendem Wasser entsteht, wird zuweilen als Scheindiskordanz bezeichnet.
 Eine Dislokationsdiskordanz entsteht durch Abscherung (Dislokation) von Gesteinspaketen entlang von Verwerfungen. In der Deckentektonik wird dies auch als Schrägzuschnitt bezeichnet.
 Magmengänge und Salzstöcke durchsetzen die Nebengesteine oftmals ebenfalls mit einem Winkel oder mit unregelmäßigen Kontaktflächen.

Siehe auch
Akkordanz

Weblinks

 Chris Rowan: The Making of an Angular Unconformity: Huttons Unconformity at Siccar Point, Blogeintrag des Geologen (Highly alochthonous), 27. Januar 2011 (Beispiel in Schottland) (englisch).
 Jack Share: The Great Unconformity of the Grand Canyon and the Late Proterozoic-Cambrian Time Interval: Part I – Defining It, Blogeintrag des Geologen und Paläontologen (Written in stone), 15. Januar 2012 (englisch).

Geologie

redpajama_set_name: RedPajamaWikipedia


text:
"The School for Scandal," at His Majesty's Theatre. April 1909
Shop Home > THEATRE > Theatres > Her Majesty's Theatre
Front Page.
For Sale is the Front Page from the Illustrated Sporting and Dramatic News April 17th 1909, entitled "The School for Scandal," at His Majesty's Theatre, showing the following photographs.
a- Mr. Tree as Sir Peter Teazle.
b- Mr. Hermann Vezin as Rowley.
c- Mr. Henry Neville as Oliver Surface.
d- Mr. Lionel Brough as Moses.
e- Mr. Edward Terry as Crabtree.
f- Mr. Tree as Sir Peter and Miss Marie Lohre as Lady Teazle
during one of their Duels.
Condition is Very Good, with No Foxing.


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text:
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redpajama_set_name: RedPajamaGithub


Newly Built and well finished Semi detached Duplex for sale in a gated neighborhood in Osapa London. The road network is fantastic.
• Very Massive Living room.
• Luxury British style kitchen.
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text:
Q: Grails, launching a modal box from the onclick of a div tag I'm very new to grails...
I can create a txt link that launches a modalbox by using:
modalbox:createLink url="sample.gsp" title="Hello Grails!" width="600" linkname="This is the Link"

What I'm trying to do now is launch the modal from clicking on a div container.

and that doesn't work.  Is there a better solution
thanks

A: Use a  surrounding the div. for instance:
<modalbox:createLink url="form" title="Test" width="600" linkname="">

        Place Anything here

</modalbox:createLink>


Question: How does root canal treatment work? Answer: First, we will make sure your tooth is numb, as well as the surrounding area. Then, after creating a small opening in your tooth, we will remove the infected or damaged pulp. We need to remove this pulp to save your tooth from an extraction. Once we clean out the interior portion of your tooth, we will seal it with a rubbery substance called gutta percha to keep bacteria from re-entering. Then, we will fill your tooth.
Question: Will you protect my tooth? Answer: Yes, after we perform the treatment we will most likely cover and protect your tooth with a beautiful dental crown. Coverage further protects your tooth from bacterial invasion and subsequent infection, restores the structural integrity of your tooth, and also allows your smile's appearance to remain undisturbed by the treatment.


text:
Q: how to add headers and footers to each pdf when using pdfkit in python Using pdfkit to build pdf from html page.
But first - it's impornant to add some info on each page and to calculate how much pages does it will be in resulting doc?
e.g. I want to add in a footer some info like:

document generated by website.service.com
document id: {doc_id}, date: {current_date}, page: 1/3, etc...
and in the header - some logo with useful links.
But I don't get how to add such info because I have only clean html file with logo & css and it seems when you run :
pdf = pdfkit.from_file(filepathin, filepathout)

it creates only one pdf and if filepathin html is long enough (e.g. I have 3 pages) - it doesn't have an option to add headers & footers (colontitles).
If someone know how to realize it - please, give me a link or example.


Before heading off to the airport in an hour or so, I thought I would commit to blog something interesting that happened to me a few days ago. You may remember that I will soon be getting surgery on my rapidly deteriorating shoulder, and that I have been in a great deal of discomfort. That being the case, I asked my doctor for some pain medication to help me get through the next few weeks. He prescribed me a couple of things (an anti inflammatory and some vicodin) and I got the prescription filled about a week and a half ago. Since I had so much work to do and the vicodin tends to make me a little loopy and therefore not the most productive, I had held off taking it. But a few days ago the pain was enough that I felt I needed one. I popped open the bottle and looked inside to grab a pill, and then thought to myself, "That doesn't look like 30 pills in this bottle".
I looked at the prescription again, and sure enough it said 30. Then I looked at the bottle again, and it didn't look right. So I poured out the contents and counted them. Sure enough, there weren't 30 there, there were only 20. So I called up the pharmacy and explained to them that the prescription I had filled several days past was missing pills. I should stop here and note that it is in my nature to feel guilty for pretty much anything whether I am to blame or not (thanks mom), and I have to admit to feeling a little like a drug addict for calling them on this. Then again, something had gone wrong and I had after all paid for the medication and wanted to make sure I had it with me while traveling.
The woman on the other end icily told me that this was a controlled substance, and that I would need a new prescription from my doctor if I wanted to get 10 more pills. I explained to her that these weren't 10 more pills, these were 10 missing pills. She got a little huffy and said there was nothing she could do. Then I got a little indignant myself and told her that it wasn't my fault that someone in their pharmacy had sticky fingers with certain medications, and that it wasn't my habit to count pills every time I filled a prescription. I then told her in no uncertain terms that I wanted my 10 pills and was not going to call my doctor to get them. I asked to speak to her manager about this, and then all of a sudden her voice got quiet and she said, "Ok, come in anytime today and I will give you the 10 vicodin". That was all I wanted, and I didn't really care what had happened to the pills, whether she was selling them or using them or what-have-you. It turned out I didn't have time to make it that day, so I swung by the next. When I got to the counter and gave my name, the woman started over to the main area where all the prescriptions are kept, and then paused, looked around and asked me in a low voice if I was the one who was here to pick up the vicodin. I nodded, and she went over to a drawer to the side, pulls out the bottle and handed it to me. I said thanks, and walked out.
Should be fun. Hasta pronto!
The NY Times has a fascinating article this morning on a subject that I have given some thought to in the past, and have discussed with my polyglot friends at length. Namely, does language shape how we think? The author gives many compelling examples (and some counter examples) but the upshot is that yes the structure and vocabulary of our language can indeed influence to a significant degree how we see the world. One of the things I love about language is how lyrical and fluid it can be. Learning other languages, I have noticed how different we can be as people in those languages. It is as if we are playing the role of a Frenchman or Spaniard, and with friends of mine who speak multiple languages, we can confirm that the personalities we have in one language do not always line up so neatly with those in others and our native tongues. This is due to so many things. When we learn a language, we are very much influenced by those around us who are native speakers, and we pick up many of their mannerisms and choice of vocabulary. We also are in a different time and place in our own lives when first mastering communication in another tongue. And then there is the image of how we should speak floating in our heads, as imaginary and subjective as could be, but still an ideal we fix upon. Tie all these elements together and you have the making of a personality. And that personality may not always agree with your other ones. In some ways we are living in another world when we speak another language well, and that is quite a feat of magic, to be able to live several lives. One becomes most aware of these differences when they are pointed out by others, or when we need to translate something that really has no good equivalent in the other language. Sometimes I will be deep in a conversation in another language, and catch a glimpse of my other self. I sense the difference, but not necessarily how it "reads" to other people. For me the greatest value in learning other languages is that it forces us to conceptualize outside of our normal headspace, and expands not only our understanding of what is possible, but our connections to other people. It allows us to erase the hard edges of "other" and break down the fictitious wall between "us" and "them".
The New York times has an article today discussing why the president is suffering from fading popularity. As with most of the "mainstream" media outlets, I think they are DC focused and really miss the point. Their argument is that he has been focusing on a legislative agenda to the detriment of getting his message out.
Here is the reason I, and many other people, are disappointed in the President, and it boils down to one word: timidity. The President has never missed an opportunity to water down any and all of the bold promises he made during the campaign. Either he negotiates away things before ever pushing for them (public option, financial oversight), says he will fight for/against things and then doesn't (don't ask don't tell, executive branch abuses), or just outright gives up on things started (Guantanamo, second stimulus). These are but a few examples, but it boils down to something pretty simple. This President eloquently argued that he stood for all sorts of things during the campaign, and once in power promptly forgot about a lot of them. Plain and simple, people voted for something better. They voted for the "fierce advocate" who never was, and seems to have never missed an opportunity to compromise on his "bedrock" principles. I am really shocked that the mainstream press seems so clueless about this. Obama was voted in on a wave of hope for a better future, and the power of all those young people, all those progressives, all those common sense conservatives was targeting the same idea: To put behind us the abuses of the past 8 years and try to rebuild trust in government. Are we better off than under Bush or than we would have been under McCain? Absolutely, not a shred of doubt there. But just being better off than we would have been makes for a pretty lackluster argument, and doesn't speak to the huge drop in enthusiasm. If the democrats lose a lot of seats this fall, it will be due to a lot of factors (the state of the economy, obstruction by republicans, etc). But it will also be due in large part to the fact that the President refused to stand up for what he (supposedly) believed in.
Someone is playing a very, very mean joke on me.
Now, I don't know what kind of sick motherf#$&%@ out there want to harass me in this way, but I will not be cowed! Show yourself, you…you…MONSTER!
Stephen hits the road, before it hits back.
For some months, I have been planning a long trip to Spain with my cousin Josh. And as you might remember, I have had this ongoing shoulder problem as well, which nothing has seemed able to ameliorate. In fact, it has really taken a turn for the worse recently, and I was worried that I would have to cancel the trip. I finally got in to see (yet another) specialist yesterday (much nicer than the last one btw), and finally accepted that I will indeed need surgery. The recovery for this type of thing is awful. It involves several weeks wearing a sling, sleeping on your back in a particular position (something I am not at all good at), lots of pain, and 6-8 months (yes, MONTHS) of physical therapy until one is back to "normal". And oh yeah, thousands of dollars b/c my health care plan covers so little. I told the doctor of my desire to go on my trip and he said it wouldn't hurt anything to go and then do the surgery upon my return. And since I will be basically immobile for months after this, I want to make the experience a last hurrah of sorts before entering the convent. I say "entering the convent" b/c let's face it, it will probably be the equivalent of taking a vow of chastity for several months. (Not that the last few, with all my aches and pains, has been any great shakes, but still.) I asked the doc for a cortisone shot for my shoulder and he said it wasn't a good idea, and that he would prescribe me some pain meds. I hope that will be enough, because it has been pretty damned uncomfortable recently. On the plus side of all of this, I am happy to be returning to Spain after so many years away. 1996 was the last time I was there, I think.
This was long Google's motto, and one I quite admired in a large company. This meant that every potential action taken by the company should be considered against whether this was something that would cause harm or not. And for the most part, despite some privacy concerns, I have felt that on balance what Google has given the world was indeed on the side of the good, and sometimes even the amazing. This was a company that I felt by and large deserved their great profit. But if this New York Times article is to be believed, Google has abandoned that motto and their own previously stated positions. Google has abandoned the idea of net neutrality, a cornerstone of the Internet. In a nutshell, net neutrality says that any content on the internet, whether produced by you or I or the White House or Google or Apple, will be on a level playing field with regard to the connections to it. Think about how important this principle is. It is what makes a great democracy of the internet. It is what allows anyone, anywhere to publish a web page that can be viewed by the entire world. According to The NY Times, this agreement will allow Verizon to play traffic cop with the content, and deliver it more reliably and faster for those willing to pay more (or less reliably and slower to those who pay less). When companies as large as Google and Verizon collude in this way, it becomes fait accompli across the spectrum. Other companies will follow suit, and because a Bush era court has struck down the FCC's power to enforce net neutrality, only Congress could pass legislation to ensure fairness. And that doesn't seem very likely since so many there are in the pockets of their major corporate sponsors.
Imagine if your phone service calling worked better if you paid more, that for a certain price companies would connect you first or without dropping calls. Or that by charging more you could call more numbers instead of dialing anyone you like? How about electricity that comes to your home? How about for a greater fee you could guarantee that when power had to be cut to the system, that yours would not be, or would be cut last? How about police and fire protection? How about, for a fee police and fire services would give you priority over other victims? How about voting? If you paid a greater amount of taxes, you would get more votes or your vote would have more weight, how does that sound?
The internet ushered in a world where everyone is a potential publisher, everyone has a chance to be heard. The idea that at a company's whim or by what they charge you they can decide who gets to see your content and how fast, is anathema to democratic ideals, poison to the idea of free speech. It puts control of the internet in private hands, where it was never meant to be. The internet is a public resource in the public sphere, and it must remain equal access.
Can't we all try just a little harder not to be evil?
UPDATE: I hope reports like these contradicting the NYT are correct.