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Ford Motor Company () () — американська автомобілебудівна компанія, виробник автомобілів марки «Форд». У 1903 компанію заснував Генрі Форд; штаб-квартира розташована в місті Дірборн (штат Мічиган). Компанія здобула популярність, коли першою в світі застосувала поточний метод виробництва: класичний автоскладальний конвеєр. Президент — Алан Мулаллі.

Ford є четвертим автовиробником у світі за обсягами випуску після Toyota, General Motors і Volkswagen. У 2005 компанією (разом з контрольованими марками) було продано 6,8 млн машин. Виручка в 2005 склала $178,1 млрд, чистий збиток — $1,6 млрд.

У травні 2018 року компанія презентувала технологію, що дозволяє «бачити» краєвид через нове вікно із шрифтом Брайля. Пристрій, який отримав назву Feel The View, має кнопку, натиснувши яку, користувач робить панорамний знімок. Потім фото, тільки монохромне, проєктується на скло. Кожному відтінку сірого відповідає вібрація певної інтенсивності.

Історія

Початок
У 1872 році син ірландського іммігранта впав з коня під час роботи на фермі свого батька біля міста Дірборн (штат Мічиган, США). Саме в цей день він вирішив створити такий транспортний засіб, який не завдавав би страждань і був би надійнішим, ніж транспортні засоби з використанням сили тварин. Цим наїзником-невдахою був Генрі Форд (Henry Ford).

Компанія Ford Motor з'явилася в 1903 році. Її засновниками були дванадцять бізнесменів зі штату Мічиган на чолі з Генрі Фордом, який тримав 25,5 % акцій підприємства і посідав посади віце-президента і головного інженера компанії.

Під автомобільний завод була переобладнана колишня фургонна фабрика на Мек Авеню в Детройті. Бригади, що складалися з двох-трьох робітників, під безпосереднім керівництвом Форда збирали автомобілі із запчастин, які виготовлялися на замовлення іншими підприємствами.

Перший автомобіль компанії був проданий 23 липня 1903 року. Першим транспортним засобом Ford стала «бензинова коляска» з приводом від двигуна потужністю 8 к.с., яку назвали Model А. Автомобіль був описаний як «найдосконаліша машина на ринку, якою здатен керувати навіть 15-річний хлопчик».

У 1906 році Генрі Форд став президентом і основним власником компанії.

Перший овальний логотип Ford з'явився в 1907 році завдяки першим британським представникам компанії Перрі (Perry), Торнтон (Thornton) і Шрайбер (Schreiber). У рамках рекламної кампанії він був представлений як «тавро вищої проби», покликане символізувати надійність та економічність.
Протягом наступних п'яти років Генрі Форд керував загальним розвитком і програмою виробництва. За цей час було використано 19 букв алфавіту — від Model А до Model S. Частина з цих моделей так і залишилася на рівні експериментальних, не дійшовши до кінцевого споживача.

У 1908 році Генрі Форд втілив у життя свою мрію, випустивши Model T (1908—1926). «Бляшана Ліззі» (Tin Lizzy), як її лагідно називали американці, стала найвідомішим автомобілем за всю історію автоіндустрії.
Її базова ціна становила 260 доларів, і протягом лише одного року було продано близько 11 тисяч таких машин. Саме поява Моделі Т ознаменувало настання нової ери в розвитку особистого транспорту.
Автомобілем Форда було просто управляти, він не вимагав складного технічного обслуговування і міг проїхати навіть по сільських дорогах.
З цього моменту автомобіль стає предметом масового виробництва, попит на який постійно зростає.
В цей же час на базі Model Т створюються машини для різних служб: пікапи, автомобілі для доставки дрібних вантажів, швидкої допомоги, автофургони і невеликі автобуси.

Щоб задовольнити зростаючі потреби покупців, а також підвищити продуктивність праці, Ford уперше впроваджує на своїх заводах конвеєрне виробництво, при якому кожний робітник виконує одну операцію, залишаючись на одному місці. У результаті нововведення кожні 10 секунд з конвеєра сходила ще одна Model Т, а рухомий конвеєр став новим, значним етапом індустріальної революції.

1920-ті роки
У 1919 році Генрі Форд і його син Едсел (Adsel Ford) викупили акції підприємства у інших акціонерів за 105 568 858 доларів і стали єдиними власниками фірми. Того ж року Едсел успадкував від батька пост президента компанії, який він і займав до своєї смерті в 1943 році. Після раптової кончини сина Генрі Форду знов довелося встати біля керма компанії.

Модель A, випущена в 1927 році, стала першим автомобілем компанії Ford з овальною емблемою на решітці радіатора. До самого кінця 50-х років більшість автомобілів Ford випускалося з добре відомим у наші дні темно-синім значком. Хоча овальний значок був затверджений як офіційна емблема Ford, він не ставився на автомобілі до середини 70-х років.

Наприкінці 1920-х років з компанією Ford Motor, керівництвом СРСР був укладений договір про будівництво автозаводу в Нижньому Новгороді. По ліцензії компанії «Форд» там було почато виробництво автомобілів Ford-A та Ford-AA під назвою ГАЗ-А, ГАЗ-АА і ГАЗ-ААА.

Стрімкий темп життя постійно вимагав нарощування потужностей і впровадження унікальних технологій. Розвиваючись у ритмі часу, Ford Motor Company була готова показати свої останні досягнення.

1930-ті роки

1 квітня 1932 року компанія представила громадськості V-подібний 8-циліндровий двигун. Ford став першою компанією, якій вдалося випустити монолітний 8-циліндровий блок. Автомобілі з таким двигуном надовго стали фаворитами практичних американців.

В 1934 році на сільських фермах і на вулицях великих міст з'явилися вантажні автомобілі Ford, оснащені повністю допрацьованим двигуном.

У цей час все актуальнішою стає проблема безпеки автомобіля. Генрі Форд не залишає без уваги і цю тему. На його заводах вперше починають застосовувати безпечні скла, ведеться постійна робота зі зниження ризику для людського життя — турбота про людину завжди була і залишається найважливішим аспектом загальної політики компанії. Автолюбителі і рядові громадяни щедро платять за таку турботу своєю прихильністю і любов'ю до Ford.

Знаменита марка завойовує популярність не тільки в Америці, але і по всьому світу. У цей період Ford має величезну мережу заводів і магазинів по всій Америці, відкриває філії в Європі та Росії. Тисячі автомобілів знаходять своїх господарів по всьому світу. Марка стає справді народною.

Після вступу США в Другу світову війну компанія почала випуск армійських вантажівок і джипів (вже не своєї конструкції — Ford GPW був адаптованою версією Willys MB).

Повоєнні часи
У вересні 1945 року Генрі Форд передав повноваження своєму старшому онукові — Генрі Форду II.

У травні 1946 року Генрі Форд-старший був удостоєний почесної премії за заслуги перед автопромисловістю, а наприкінці цього ж року Американський інститут нафти (American Petroleum Institute) вручив йому золоту медаль за заслуги перед суспільством.

Генрі Форд помер у віці 83 років у себе вдома в Дірборні 7 квітня 1947 році.

Але онук гідно продовжує справу свого діда. 8 червня 1948 року на виставці в Нью-Йорку була урочисто представлена нова модель Ford. Основні її особливості — гладкі бічні панелі, незалежна передня підвіска і відкриваються задні бічні стекла.
Інтеграція кузова і крил виявилася новинкою, що встановила стандарт автомобільного дизайну.
У 1949 році Ford продав близько мільйона таких автомобілів, досягши найвищого обсягу продаж за період з 1929 року.

З величезною швидкістю ростуть і прибутки компанії. Це призвело до збільшення виробничих споруд: нові виробничі і складальні заводи, випробувальні полігони, інженерно-дослідницькі лабораторії.

Освоюються нові види діяльності: фінансовий бізнес — Ford Motor Company, страхування — American Road Insurance Company, автоматична заміна запчастин — Ford Parts and Service Division, електроніка, комп'ютери, космічні технології та багато іншого.
І, нарешті, в січні 1956 року Ford Motor Company стала відкритим акціонерним товариством. В наш час у компанії близько 700 000 акціонерів.

Центром уваги в 60-ті роки стає молодь. Відповідно до настроїв у суспільстві, Форд швидко переорієнтує своє виробництво на створення недорогих спортивних автомобілів, призначених для молодих покупців.

1960-ті роки
В 1964 році, на суд публіці вперше представляється Mustang. Найважливішою особливістю новинки було використання нового двигуна, у якому поєднувалися два агрегати — трансмісія й ведучий міст. Вигідно відрізняв її і зовнішній вигляд — оригінальне поєднання всіх сучасних тенденцій дизайну 50-60 років.

Такого гострого інтересу, який викликав цей автомобіль, не спостерігалося з часів Моделі А. У перші ж сто днів було продано сто тисяч чотиримісних автомобілів Mustang. Прибутки компанії перевершили всі очікувані результати.

Натхнені успіхом фахівці Ford продовжують розробляти оригінальний дизайн, використовуючи при цьому самі новаторські тенденції і розробки автомобілебудування. Їх робота втілилася в моделях типу Corina і у фургоні Transit.
Але не тільки прибуток хвилювала співробітників і керівництво Ford Motor Company. Триває боротьба за безпеку їзди.

1970-ті роки
Так, в 1970 році Форд стає першим із серійних виробників, що впровадив передні дискові гальма.

З 1976 року легендарна овальна емблема Форд з синім фоном і срібними буквами ставиться абсолютно на всі автомобілі компанії, щоб у будь-якій країні світу можна було з легкістю впізнати продукцію Ford.

Умови жорсткої конкуренції, особливо загострилася у цей період, спонукають фахівців Ford впроваджувати нові технології і в інших областях — особлива увага приділяється економії палива. Метою дизайнерів стає створення лідера світового класу в середньому і представницькому сегментах ринку. У результаті з'явилися Ford Taurus і Mercury Sebale.

1980-ті роки
Необхідно відзначити, що Taurus створювався як автомобіль, кожна деталь якого доведена до досконалості. Зусилля принесли свої плоди — Taurus був визнаний автомобілем 1986 року, а через рік став бестселером в Америці.

Наступними новинками були Ford Mondeo, а також видозмінений Mustang. Прем'єрами 1994 року також стали Ford Espire і мікроавтобус Windstar.

Згодом в США випустили вдосконалені Ford Taurus і Mercury Tracer, що продемонстрували перші великі зміни в дизайні автомобілів, які з'явилися на ринку наприкінці 80-х років. У Європі були також представлені видозмінений пікап F-серії, нова Fiesta і мінівен Galaxy.

Основною метою компанії стає постійне удосконалення своєї продукції при зниженні витрат на виробництво. Результатами стали світові автомобілі.

Історія емблеми

Міжнародна діяльність компанії

Компанія випускає широкий спектр легкових і комерційних автомобілів під марками Ford, Lincoln, Mercury. Під контролем Ford знаходяться такі відомі виробники автомобілів як Daimler а також Mazda (частково).
Підприємства Ford розташовані в США, Канаді, Мексиці, Німеччині, Бразилії, Аргентині, Іспанії, Китаї, Таїланді та ін.
Загальна чисельність працівників, зайнятих в компанії — 327,5 тис. чоловік.

  Ford Motor Company of Canada Limited. Штаб-квартира у м. Оквілл, провінція Онтаріо. Заводи у:
 м. Віндзор, провінція Онтаріо;
 м. Оквілл, провінція Онтаріо

  Ford Motor Co SA de CV. Штаб-квартира у м. Мехіко. Заводи у:
 м. Ермосільйо, штат Сонора;
 м. Монтеррей, штат Нуево-Леон;
 м. Генерал Ескобедо, штат Нуево-Леон;
 м. Куаутітлан-Іскальї, штат Мехіко;
 м.  Чіуауа, штат Чіуауа

  Ford Motor Co of Australia Ltd. Штаб-квартира у м. Кемпбелфілд (передмістя Мельбурна), шт. Вікторія. Заводи у:
 м. Кемпбелфілд (передмістя Мельбурна), шт. Вікторія;
 м.  Норлан (передмістя Джилонга), шт. Вікторія

  Ford Motor Company Of New Zealand Ltd. Штаб-квартира у м. Манукау-Сіті (район Окленда)

  Ford Argentina SCA. Штаб-квартира у м. Буенос-Айрес. Входить у групу AutoLatina Заводи у:
 м. Буенос-Айрес (район Ла Бока);
 м. Генерал Пачецо, провінція Буенос-Айрес

  Ford Motor de Venezuela SA. Штаб-квартира і завод у м. Валенсія, провінція Карабобо

  Ford Motor Co Brasil Ltda. Входить у групу AutoLatina. Штаб-квартири у м. Сан-Паулу (вантажівки та комерційні) та у м. Сан-Бернарду-ду-Кампу, штат  Сан-Паулу. Заводи у:
 м. Сан-Паулу, округ  Іпіранга;
 м. Сан-Бернарду-ду-Кампу, штат  Сан-Паулу;
 м. Таубате, штат  Сан-Паулу;
 м. Камасарі, штат Баїя;

  Ford Motor Company of SA (Pty) Ltd. Штаб-квартира у м. Порт-Елізабет (Східно-Капська провінція). Завод у м. Порт-Елізабет (Східно-Капська провінція)
  Samcor (Pretoria) (Pty) Ltd. Штаб-квартира розташована в м. Преторія. Основні виробничі потужності у районі передмістя Сільвертон міста Преторія

 ,  Ford Lio Ho Motor Co Ltd. Штаб-квартира і завод у м. Чхун-Лі, повіт Таоюань, Тайвань
  Changan Ford Mazda Motor Company. Штаб-квартира і завод у м. Чунцін.
  Jiangling Motors Group. Штаб-квартира і завод у м. Наньчан, провінція Цзянсі.

  Ford India Ltd. Штаб-квартира у м. Ченнаї, приміський район Ченгалпатту, штат Тамілнаду. Заводи у:
 м. Ченнаї, приміський район Марамалай Наґар, штат Тамілнаду;
 м. Сананд, штат Гуджарат

  Auto Alliance (Thailand) Co Ltd. Штаб-квартира та завод у м. Плаукданґ, провінція Районґ

  Ford Motor Company (Thailand) Limited. Штаб-квартира та завод у м. Чонбурі, провінція  Чонбурі

  Ford Otomotiv Sanayi AS. Штаб-квартира у м. Стамбул, район Санджактепе, іл Стамбул. Заводи у:
 м. Ізміт, іл Коджаелі;
 м. Ескішехір, іл. Ескішехір

  Ford Motor Co Philippines Inc . Штаб-квартира та завод у м. Санта-Роса, провінція Лагуна

  Ford Malaysia Sdn Bhd . Штаб-квартира та завод у м. Шах-Алам, провінція Селангор

  Ford Lio Ho Motor Co Ltd. Штаб-квартира і завод у м. Чхун-Лі, повіт Таоюань

  Ford Vietnam Limited. Штаб-квартира і завод у м. Хайзионг, провінція Хайзионг

  Ford Motor Co Ltd. Штаб-квартира у м. Брентвуд, графство Ессекс. Дослідницький Дантонський технічний центр у м. Дантон, графство Ессекс Заводи у:
 м. Холівуд, графство Мерсісайд;
 м. Лондон, приміський район Дейгенхем;
 м. Ґейдон, графство Ворикшир;
 м. Брідженд, Уельс;
 м. Саутгемптон, графство Гемпшир

  Ford Lusitana SARL. Штаб-квартира у Лісабоні. Заводи у:
 м. Азамбужа, адміністративний округ Лісабон;
 м. Сетубал, адміністративний округ Сетубал

  Ford Romania. Штаб-квартира і завод у м. Крайова, жудець (повіт) Долж

  Ford España SA. Штаб-квартири у м. Мадрид та у м. Валенсія, автономна область Валенсія. Завод у:
 м. Алмусафес, провінція Валенсія

  Ford Werke AG. Штаб-квартира у м. Кельн, район Ніль. Заводи у:
 м. Кельн, район Ніль;
 м. Райне, земля Північний Рейн-Вестфалія;
 м. Саарлуї, земля Саар;

  Ford Nederland NV. Штаб-квартира і завод у м. Амстердам

  Ford Union . Штаб-квартира у Мінську. Завод у:
 с. Абчак, Мінська область

  Ford-Werke. Штаб-квартира і завод у місті Генк, провінція Лімбург

   Ford Italia S.p.A. . Штаб-квартира у Римі

  ЗАТ «Ford Motor Company». Штаб-квартира у м. Всеволожськ, Ленінградська обл. Заводи у:
 м. Всеволожськ;
 м. Єлабуга

Виробничі потужності заводу у Всеволожську 2013 року були завантажені менш, ніж на дві третини. За січень-лютий 2014 продажі моделі Ford Focus, яка виробляється у Всеволожську, в цілому по Росії впали на 40 %. У зв'язку з чим завод у Всеволожську з 22 квітня 2014 зупинив виробництво і скоротив 700 співробітників у рамках «програми з оптимізації витрат».

Продажі

Інші вироби компанії
Компанія активно втілює свої автомобільні технології у повсякденне життя. Лін Вест — контент-менеджер європейського підрозділу маркетингових комунікацій Ford, це коментує таким чином: «Нам було цікаво застосувати наші технології в інших ситуаціях на користь людей.  Зараз ми розробляємо ще декілька ідей, мета яких — поліпшити повсякденне життя за допомогою маленьких ноу-хау Ford.»

Так, в 2018 році компанія Ford розробила будку для собак з поглинанням шуму, застосувавши технологію, аналогічну тій, яку використовує у своєму позашляховику Edge. А в 2019 році «розумне» ліжко, в основі якого технологія утримання авто на смузі руху під назвою Lane-Keeping Aid, якою оснащено більшість машин компанії.

Повний перехід на випуск електрокарів
15 листопада 2021 року, стало відомо що шість компаній-виробників автомобілів підписали декларацію про те, що вони до 2040 року відмовляться від випуску автомобілів із бензиновими двигунами. Серед підписантів була й Ford.

Примітки

Посилання

 Український сайт Ford
 Клуб власників автомобілів Ford

Підприємства Детройта
Автобудівні підприємства США
Підприємства, засновані 1903
Ford


HAKUICHI has been staying close to the women's beauty ever since we launched the oil blotting paper made by the same production method as the gold pounding paper in 1976.
Preserving the quality of the oil blotting paper since our founding, we now produce/offer gold leaf cosmetics and spa-grade gold leaf to support women with their skin needs.
Based on the hydrating property of gold and the skin-beatifying power of plants, this brand of skin care helps a wide range of skin needs women have. Your skin is firm and well-hydrated from the dermis layer.
Gold-leaf facial masks, the popular choice in the luxury courses at high-end spas and hotel salons, are now a part of your daily skin care regimen at home. Choose from our usable range.
Inspired by the "Furuya Paper", the by-product of gold leaf production, HAKUICHI commercialized the "Oil Blotting Paper Made by the Gold Pounding Paper Production Method" for the first time in Japan. Highly absorbent, it instantly removes excess sebum and helps you touch up your makeup.


text:
"Федерация" (, "Кула Федерация") е комплекс от два небостъргача в Москва, Русия, единият от които е най-високият небостъргач в Европа. Архитектурният проект е разработен от Сергей Чобан съвместно с Петер Швегер. Строителството се извършва от компанията ЗАО "Башня Федерация".

Намира се в 13-и участък на комплекса Московски международен делови център.

Комплексът представлява 2 сгради, построени върху общ постамент:
 кула "Изток" – 95-етажна конструкция. На 25 септември 2014 г. "Федерация" става най-високото здание в Русия и Европа. В края на 2015 г. са завършени инженерните дейности и остъкляването. Височината е точно 374 m.
 кула "Запад" – 63-етажна конструкция с височина 242,4 m. Строителството е напълно завършено.

В зданията има офиси, хотелски апартаменти, ресторанти, кафенета, наблюдателна площадка, паркинг, спа, басейн. В комплекса "Федерация" има 67 асансьора.

Комплексът "Федерация" е издигнат на общ фундамент, в основата на който е положена масивна бетонна плоча. Тя е излята от 14 000 m³ бетон, като това постижение даже е отбелязано в книгата за рекорди на Гинес.

Галерия

Източници

Външни препратки
 Официален сайт
 www.7211000.ru

Кули-близнаци
Небостъргачи в Москва

redpajama_set_name: RedPajamaWikipedia


Firefighters battled a blaze at a New Brunswick bowling alley Friday morning.
The Bowl O Drome is located on Jersey Avenue between Delavan and Sanford streets. The fire destroyed the bowling alley. Fire officials say the flames also spread to a nearby building and destroyed the company, Mr. Ice Bucket. Smoke from the blaze could be seen for miles.


text:
<?php

namespace Doctrine\Tests\ODM\PHPCR\Mapping\Model;

use Doctrine\ODM\PHPCR\Mapping\Annotations as PHPCRODM;

/**
 * A class that contains mapped children via properties
 *
 * @PHPCRODM\Document
 */
class ChildMappingObject
{
    /** @PHPCRODM\Id */
    public $id;

    /** @PHPCRODM\Child(nodeName="first") */
    public $child1;

    /** @PHPCRODM\Child(nodeName="second") */
    public $child2;
}

redpajama_set_name: RedPajamaGithub


text:
Adamovo jabolko je izboklina spredaj na vratu, ki je posledica ščitastega hrustanca, ki obkroža grlo, kjer se oblikuje glas. Izboklina je večja in izrazitejša pri moških kot pri ženskah. Pri požiranju se premika gor in dol.

Glava in vrat
Sekundarni spolni znaki


Snaplingo is a user friendly language learning APP. I am currently a part time translator and tutor for the users in the app.
Advertised for Huawei phone company in China. Gained experienced with professional Photoshoots and Voice Overs.


The free clinic and/or individual health care professional provides a patient a written notification explaining that the patients' legal liability is limited pursuant to the Public Health Service Act.
Click HERE to download our patient application.
Below is an income eligibility guideline.


text:
Items where Schools and Departments is "The City Law School" and Year is 2018
Jump to: A | E | L | S | V
Al Ahmary, Hussam (2018). Does Saudi corporate governance attain International standards using the UK best practice as an exemplar. (Unpublished Doctoral thesis, City, University of London)
Evangelidi, A. (2018). UAV warfare and the law of armed conflict: a case of legal and ethical interregnum. (Unpublished Doctoral thesis, City, University of London)
Labedzka, A. (2018). The European Union and shaping of its neighbourhood: in pursuit of stability, security and prosperity. (Unpublished Doctoral thesis, City, University of London)
Safari, N. (2018). Reconsidering the role of the derivative claim in the United Kingdom. A comparative study with the United States and New Zealand. (Unpublished Doctoral thesis, City, University of London)
Vasani, A. (2018). Shipbuilding disputes: influence of industry norms on law and contracts. (Unpublished Doctoral thesis, City, University of London)

redpajama_set_name: RedPajamaCommonCrawl


Following on from my previous article about preventing your points from expiring there is an easier way to monitor your award accounts and see when points will expire.
Now I can understand why people may forget forget about their account, people don't fly often and don't have a credit card linked to the account. It can also be a pain to log into multiple accounts to check them – imagine checking a family of fours Qantas accounts!
Enter Award Wallet, the online tool to manage your loyalty accounts. Simply create an account, enter your details and Award Wallet does the rest.
So with a few clicks you can see at a glance what points you have and more importantly, when they expire. for most schemes it can track your points, however not all are supported. Good news for Australian residents, it does a great job with Qantas and Virgin schemes.
There are weekly statements with your point balances sent out to keep you up to date.
You can find Award Wallet http://AwardWallet.com/?refCode=ktvotbcouz. The basic account will monitor 3 accounts, or unlimited on the premium account. The sign up includes a trial of the premium account.
Previous Previous post: Come and join our forums!
You only lose your points if you have no activity for 18 months, activity is defined as earning or using your points. Top up of points and family transfers are not included. My advice is to download the toolbar where you can earn points every time you search or to sign up to Everyday Rewards for free (something you should do to avoid the now $89.50 charge which used to be $82.50).
To follow on, they also do not have any way to prove whether someone is your family member so you can transfer to anyone you want, just don't call and ask them as they will tell you otherwise which is not true. Also in regards to expired points, do try to either keep them active or use them in some way as this is how qantas frequent flyer earn their profits. Their cash card is also a joke, the earn rates are low and the fees involved are way too much, they can't even get your cards out in time when they tell you 10-14 working days. And unless you're a silver status or above you'll be charged $10 or 1000 points if you've lost your card. So just say that the card is damaged or its been stolen to get it for free.
You don't even need to call up to transfer points, it can all be done online.
The cash card isn't too bad – certainly better than Virgin's card, but there are some better options around. I've used it myself and aside from the load time – it isn't too bad, personal choices on credit cards though, everyone is different.


text:
Q: Is every first-countable symmetrizable space perfect? Let us recall that a symmetric on a set $X$ is any function $d:X\times X\to[0,\infty)$ such that
for every $x,y\in X$ the following two conditions are satisfied:

*

*$d(x,y)=0$ if and only if $x=y$;

*$d(x,y)=d(y,x)$.
A topological space $X$ is called symmetrizable if there exists a symmetric $d$ on $X$ such that a subset $U\subseteq X$ is open if and only if for every $x\in X$ there exists $\varepsilon>0$ such that $B_d(x,y)\subseteq U$, where $B_d(x,\varepsilon)=\{y\in X:d(x,y)<\varepsilon\}$.
If a symmetric $d$ on $X$ generates a first-countable Hausdorff topology, then for every $x\in X$ and $\varepsilon>0$ the ball $B_d(x;\varepsilon)$ contains $x$ in its interior $B_d(x;\varepsilon)^\circ$. This fact implies that every closed set $F\subseteq X$  is a $G_\delta$-set in $X$ as $F=\bigcap_{n\in\mathbb N}\bigcup_{x\in F}B_d(x;\tfrac1n)^\circ$.
This was a simple proof of the following known
Fact. Every symmetrizable first-countable Hausdorff space is perfect.
Symmetrizable spaces are $T_1$ but not necessarily Hausdorff. Countable symmetrizable spaces are perfect (being $T_1$-space). So, we naturally arrive to the following problems.
Problem 1. Is every first-countable symmetrizable space perfect?
Problem 2. Is every second-countable symmetrizable space perfect?
Remark 1. Consider the set $X=\{-\frac1n:n\in\mathbb N\}\cup\{0\}\cup\{\tfrac1n:n\in\mathbb N\}$ endowed with the symmetric
$$d(x,y)=\begin{cases}\max\{x,y\}&\text{if $\max\{x,y\}>0$ and $\min\{x,y\}<0$};\\
\lvert x-y\rvert&\text{if $\max\{x,y\}\le 0$};\\
0&\text{if $x=y$};\\
1&\text{otherwise}.
\end{cases}
$$
This symmetric generates a first-countable non-Hausdorff topology in which the unit ball $B_d(0,1)=\{-\frac1n:n\ge 2\}\cup\{0\}$ is nowhere dense. So, the standard proof of the perfectness of symmetrizable first-countable Hausdorff spaces does not work in this case. Nonetheless, the symmetrizable space $X$ is countable and hence perfect.
Remark 2. There are many examples of non-perfect symmetrizable Hausdorff spaces, see examples of Bonnett, Davis-Gruenhage-Nyikos or Stephenson. However all these examples are not first-countable (being Hausdorff).

redpajama_set_name: RedPajamaStackExchange


Most investors get crushed by lack of diversification eventually. Unexpected events will banktrupt many investing strategies, even though they worked for years.
Marc Faber: "Diversify across geography and assets with 25% in precious metals, 25% in equities, 25% in real estate, and 25% in cash/bonds".


text: Q: How to compare one continuous variable between two groups when there are gender-specific reference values for the variable? I want to compare two groups of patients - hospitalized and non-hospitalized - by one laboratory parameter value. There are male and female patients in both groups. But, for this laboratory parameter, there are gender-specific reference values, so by default, female patients will have lower baseline values than males in both groups. What is the best method to resolve this issue? Should I convert variable values to percentiles and then compare groups by percentiles instead of actual laboratory values, or should I use calculated percentages of variables above or under the upper reference value for gender? Or is there another more precise way?


text:
/*
 *
 * Author:
 *     Thomas Liu
 * Date:
 *     4/17/2014
 * Description:
 *
 *
 *
 * Licensed under the Apache License, Version 2.0
 *
 */

#ifndef TESLA_NET_BACKEND_EPOLLBACKEND_H
#define TESLA_NET_BACKEND_EPOLLBACKEND_H

#include <tesla/net/Backend.h>

#include <map>
#include <vector>

struct epoll_event;

namespace tesla
{

namespace net
{

///
/// IO Multiplexing with epoll(4).
///
class EpollBackend
    : public Backend
{
public:
    EpollBackend(EventLoop* loop);
    virtual ~EpollBackend();

    virtual tesla::base::Timestamp run(int timeoutMs, ChannelList* activeChannels);
    virtual void updateChannel(Channel* channel);
    virtual void removeChannel(Channel* channel);

private:
    static const int INIT_EVENTLIST_SIZE = 16;

    void fillActiveChannels(int numEvents,
                            ChannelList* activeChannels) const;
    void update(int operation, Channel* channel);

    typedef std::vector<struct epoll_event> EventList;
    typedef std::map<int, Channel*> ChannelMap;

    int epollfd_;
    EventList events_;
    ChannelMap channels_;
}; // class EpollBackend

} // namespace net

} // namespace tesla

#endif  // TESLA_NET_BACKEND_EPOLLBACKEND_H


text:
Maximilian Handel  (* 14. September 1889 in Hagenau, Oberösterreich; † 10. Mai 1966 ebenda) war ein österreichischer Gutsbesitzer und Politiker (ÖVP). Handel war Mitglied des Oberösterreichischen Landtags und von 1945 bis 1949 Abgeordneter zum Nationalrat.

Leben
Maximilian Sigismund Franz Anton Erasmus Rudolph Joseph Maria von Handel entstammte der oberösterreichischen Linie einer Brabanter Familie und wurde als Sohn von Max Freiherr von Handel und Flora Freiin von Handel geboren. Maximilians Vater war der Neffe von Erasmus von Handel und ein Vetter der Dichterin Enrica von Handel-Mazzetti gewesen.

Maximilian besuchte das Gymnasium und diente von 1914 bis 1918 im Ersten Weltkrieg, wobei er es bis zum Oberleutnant der Reserve brachte. Nach dem Ende des Krieges übernahm er die Bewirtschaftung des Gutes Schloss Hagenau und heiratete 1921 Mathilde Gräfin zu Spaur und Flavon, wobei der Ehe zwei Töchter entsprangen. 1919 wurde er Bürgermeister von Hagenau. Von 1934 bis 1938 war er Mitglied des Ständischen Landtags in Oberösterreich und vor allem als Fachmann für Finanz- und Budgetangelegenheiten gefragt. In der gleichen Zeit bekleidete er auch die Funktion des Gauleiters der Vaterländischen Front im Bezirk Braunau. Zwischen dem 19. Dezember 1945 und dem 8. November 1949 war er Abgeordneter der ÖVP im Nationalrat, 1945 auch Obmann der Bezirksbauernkammer.

Literatur
 Harry Slapnicka: Oberösterreich – Die politische Führungsschicht. 1918 bis 1938 (= Beiträge zur Zeitgeschichte Oberösterreichs. 3). Oberösterreichischer Landesverlag, Linz 1976, ISBN 3-85214-163-X, S. 118.

Weblinks

Abgeordneter zum Nationalrat (Österreich)
Landtagsabgeordneter (Oberösterreich)
Bürgermeister (St. Peter am Hart)
Oberleutnant (Österreich-Ungarn)
ÖVP-Mitglied
Österreicher
Geboren 1889
Gestorben 1966
Mann


There's a good deal more to it than installing solar panels, geo-thermal cooling systems and energy-efficient appliances. To build a truly sustainable home, one has to start with a sustainable design.
Eco-construction has enjoyed a rise in popularity internationally, as the desire to create less damaging, sustainable communities increases.
Following a recent visit from Rug Company representatives, Design Studio has an exciting selection of new samples and offerings to choose from.
Eco House, an advanced climate control and filtration company, is supplying and installing many eco-friendly features at Boggy Sands, the new development by Morne Botes.
Furniture and décor store Marksons is expanding its contemporary selection due to a rise in demand and current popular trends.
A new development called TIDES is being built by NCB Group and will feature spectacular oceanfront luxury condominiums on the shores of South Sound.
Tankless propane water heaters provide homeowners with an endless supply of hot water, energy savings, a space-saving design and environmental benefits.
Savills plc, a global real estate services provider listed on the London Stock Exchange, recently opened a sales center in Caribbean Plaza.
IKEA's new collection is now available to order through Welcome Home in Governors Square.
Already under construction, the development is set in the exclusive Crystal Harbour community and will feature 123 high-end homes.
Hot on the heels of the success of The Plantation boutique residences in South Sound, LIV Development has begun building more homes of a similar island-style.
High indoor air quality is essential in homes, especially in Cayman where air conditioners can quickly spread mold throughout the house.
Dart Realty is also installing photovoltaic systems atop Camana Bay's largest buildings, with a total of 1,171 panels harnessing renewable energy.
In Cayman, there are several local and regional plant-based ingredients that can be used as healthy alternatives to harsh chemicals.
Developers are investing in some impressive new luxury residential and commercial projects, while real estate companies are reaping the benefits of the expanding market.
Environmentally friendly building supply company At Nature's Door has added wedi polystyrene foam to its range and is the island's exclusive dealer for the brand.


Fully Automatic Strapping Machine is designed to facilitate precision packaging of bundles, papers, magazines and other items. Fully Automatic Strapping Machine uses polypropylene (PP) strapping for packaging purpose. Automatic and efficient strapping at high speed for saving extra effort is one of the prime attributes of Fully Automatic Strapping Machine.


Join us at YMCA KL for a great journey to discover your potential as an influential leader and changemaker in the global YMCA community.
Youths have always been a driving force of the YMCAs around the world for more than a century. Today, we have begun anew by welcoming core challenges of youth empowerment, reiterated on our overall impact on the community and we are slowly restructuring our youth development journey by growing towards emulating the basic framework of the World Alliance of YMCAs' Change Model for Empowering Young People which defines change as having three components: SPACE, TRANSFORMATION and IMPACT.
YMCA KL continues to empower the Youth while building them to transform lives around for a greater future! Throughout the year 2015, our mission to Empower Youths was a journey reviewed, reiterated and restarted fresh; fostering fresh intake and discovering new depths in solidifying collaborations, expanding connections and fostering friendships with the Youth to serve the universal philanthropic cause of giving back to society through the YMCA KL Mission.


BARCELONA, Spain -- A man pleaded to be let into a locked police station in Barcelona before dawn Monday, then lunged with a knife at officers inside. Police shot him dead and the attack is being investigated for any links to terror, authorities said.
Despite the police suspicions, the Interior Ministry said it was keeping the country's terror alert at level 4, indicating high risk. Spain has been at that stage of alert since 2015, following a series of terror attacks abroad. Level 5, indicating a "very high risk" of attacks, is the highest level.
Police said that as a precaution they evacuated the apartment block where the suspect lived, about 200 metres (yards) from the police station, before bomb disposal experts, forensic teams and sniffer dogs began a search of the premises.


The Correctional Service of Canada (CSC) is a key player in public safety. We are responsible for the supervision and reintegration of offenders serving sentences of two years or more. On a typical day, we manage approximately 15,000 offenders placed within our 53 institutions and more than 8,500 offenders under supervision in the community.
At CSC, putting in a day's work means helping to keep your community safe.
CSC is committed to developing and maintaining a strong and diverse workforce that reflects the wider Canadian community we serve. See how you can benefit!
We are building a strong, vibrant, and diverse team of professionals. CSC has been widely recognized as an international leader in correctional justice. We offer a variety of work locations with challenges and impacts like no other organization in Canada.
For career opportunities that are currently available, visit http://jobs-emplois.gc.ca/. If you are a post-secondary school student seeking employment, visit the Federal Student Work Experience Program. To search jobs with the Public Service Commission of Canada, please visit our website.
Aboriginal people who are unable to apply on-line can send it by: fax to (613) 992-7716, email to cscrecruitment@csc-scc.gc.ca or mail at: Correctional Service Canada, Recruitment and National Initiatives, 340 Laurier Ave. West, Ottawa, Ontario, K1A 0P9. Please ensure to clearly quote reference/selection number starting with PEN and attach a completed and signed copy of the AAAF.
How to Apply Guide in Inuktitut language (Nunavik or Nunavut dialect).
Working with CSC – Why people love it!


ASAN Volunteers and Azerbaijan Youth Foundation have launched new initiative.
The project entitled "M?qs?dl?r üçün ?l-?l?" aims to promote the Sustainable Development Goals (SDGs) among young people (officially known as Transforming our world: the sustainable development agenda for the period up to 2030), Trend Life reported.
On September 25, 2015, the UN member states adopted the 2030 sustainable development agenda. It contains a number of goals aimed at eradicating poverty, conserving the resources of the planet and ensuring well-being for all.
Each of the 17 Goals contains a series of indicators that must be achieved within 15 years. The achievement of the Sustainable Development Goals requires the joint efforts of governments, the private sector, civil society and the inhabitants of the Earth.
States recognize that measures to eradicate poverty must be taken in parallel with efforts to increase economic growth and address a range of issues in education, health, social protection and employment, as well as combating climate change and environmental protection.
"M?qs?dl?r üçün ?l-?l?" will cover five regions of Azerbaijan. In conclusion, the project participants will form teams and present their presentations. The best will be awarded with valuable prizes.


text:
You are at:Home»FEATURES & EDITORIALS»Sam Frank's Diary – Destiny Day 1
Sam Frank's Diary – Destiny Day 1
By Vanessa Gutierrez on	 September 10, 2014 FEATURES & EDITORIALS, GAMING
Everyone is reviewing Destiny. But a review for this game is a waste of time, so instead we decided to write a journal in character of our experiences with the game.
My name is Sanimal. I am of a race known as the Awoken, and I follow the path of the Warlock. I was found by a small floating robot, which called itself a ghost. To me he sounded strangely alike to Tyrion Lannister from Game of Thrones. I used to love that show… He found me among the ruins of the Cosmodrome in old Russia of Earth. Something about "in Soviet Russia, Ghosts bring YOU to life".
Apparently I've been dead for a long time and there's a lot I wouldn't understand. The only other thing he told me was that I was in Fallen territory, and that I needed to fight through them and escape to safety on the other side of the Cosmodrome.
I fought my way through The Breach – an abandoned warehouse of sorts – crouching to avoid trip-mines, and killing any Fallen with accuracy; aiming down the sights of a Khvostov 7G-02 auto rifle that my ghost found for me, taking the headshots where I could for the easy kills. Finding the enemy was easy with the use of my tracker – the radar highlighted in which direction they were attacking from for me. Running out of ammo wasn't a problem either as I could just pick more up from the fallen… Fallen. Soon thereafter I received a Preacher Mk. 20 shotgun from a loot cache, which was great for close range damage. During a following battle I needed to change a clip with one enemy left. I thought it might have me but the simple use of a melee force-blast from my palm soon saw to that last Fallen.
So I fight. But when I reach the other side, I'm greeted by Fallen ships dropping off more Vandals and Dregs for me to deal with. Little floating robotic drones known as Shanks join the fray as well. As a Warlock I dabble in the powers of a Voidwalker, soon learning to harness my power in the form of a Vortex Grenade. This ability comes in very handy for this particular battle – continuously damaging those near it, and I was able to continue through to Dock 13. There were many Fallen waiting for me in here – the perfect opportunity for me to gain experience and level up my class. Especially when taking on Rahn, the devil captain. He was a lot swifter than the other Fallen I had encountered thanks to his teleportation ability. He was, however, the last enemy in the way of retrieving my ship.
My first mission was complete and I returned to the Tower – the last safe city on Earth, where all other Guardians live. I think to myself "it's a bit like Zion from The Matrix, but with even more weird people."
The Tower is a place where I can prepare myself before I go out on other quests. Before quests, though I needed to find a chick called Ikora Rey, the mentor for new Warlocks arriving at the Tower. She provided me with new chest armor of a higher defence, and a much more appealing colour compared to the dire brown rags I had before. I also checked with the Postmaster, and received my first emblem. The gunsmith offered me a choice of weaponry – I compared them to my current auto rifle and decided to go for a change. The Psi Umbra I pulse rifle would suit me well in the coming battles. Perhaps I would try a scout rifle or a hand cannon another time. For now I must return to my ship. There is no rest for the wicked, and I must prepare myself for the days ahead. It is after all, my destiny.


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Alberto Asquer
University of London (United Kingdom)
Erasmus Mundus Visiting Scholar, IBEI
Senior Lecturer in Public Policy and Management, SOAS University of London
aa144@soas.ac.uk
Dr Alberto Asquer is Senior Lecturer of Public Policy and Management at the School of Finance and Management of SOAS University of London, where he acts as Director of the Centre for Financial and Management Studies and Director of the Centre for Water and Development. He is convenor of the MSc Public Policy and Management and MSc Public Financial Management programmes. After a degree in economics and a doctorate in Italy, he attained a MSc Management and a PhD at the London School of Economics and Political Science. His research interests are in the areas of regulation, organisational change, and public-private partnerships. His recent works include the books Public Sector Management (with Norman Flynn, SAGE, 2017) Public Sector Revenue (Routledge, 2017), and Regulation of Infrastructure and Utilities (Palgrave, 2018). He published research articles in journals such as Public Management Review, Governance, International Public Management Journal, Water Resources Management, and Annals of Public and Cooperative Economics.
(2013) PhD, London School of Economics and Political Science
(2002) PhD, University of Salerno, Italy
(1999) MSc Management, London School of Economics and Political Science
(1996) Degree Economics and Commerce, University of Cagliari, Italy
Gestión financiera pública
The design, management and politics of public-private partnerships.
How Do Physician Executives Understand Performance Review and Assessment? A Longitudinal Q-methodology Analysis in a Public Health Organization.
Subjective Understandings in Agile Software Development: A Q Methodology Study in an Italian ICT District.
Theorizing Regulatory Parsimony of Emerging Technologies: Decentralized Cryptocurrencies (2009-2019) and CRISPR Gene Editing (2012-2019).
Publicaciones más destacadas
Asquer, Alberto; Al-Zaharani, A. (forthcoming)
.2019.Public services reforms in Neo-Patrimonial systems: the commercialization of healthcare and education in Saudi Arabia.Public Management Review (published online on 11th March 2019),
Araral, E.; Asquer, Alberto; Wang, Y
.2017.Regulatory Constructivism: Application of Q Methodology in Italy and China.Water Resources Management,17:1-25
Asquer, Alberto.2015.Managing Challenging Organizational Change: Introducing Active Labor Market Policies in Italian Public Employment Agencies.Public Management Review,17(6):901-921
Asquer, Alberto.2014.Understanding Subjectivities in the Regulation of Local Water Services: A Q-Methodology Study of Elected Public Officers in Italy.Water,6(3):670-693
Asquer, Alberto.2014.Using Analytic Narratives in Policy Analysis: An Explanation of the Implementation of the Water Reform in Italy (1994-2002).Journal of Comparative Policy Analysis,16(1):79-93
Asquer, Alberto.2014.Explaining Partial Privatization of Public Service Provision: The Emergence of Mixed Ownership Water Firms in Italy (1994-2009).Annals of Public and Cooperative Economics,85(1):11-30
Asquer, Alberto.2012.Aligning Technological and Institutional Change: Maritime Transport in West Mediterranean Sea.Competition and Regulation in Network Industries,13(2):108-132
Asquer, Alberto.2012.Managing the Process of Decentralization: Transforming Old Public Entities into New Agencies in the Agricultural Sector.International Public Management Journal,15(2):207-229
Asquer, Alberto.2011.Liberalization and Regulatory Reform of Network Industries: A Comparative Analysis of Italian Public Utilities.Utilities Policy,19(3):172-184
Asquer, Alberto.2010.Implementing Fiscal Decentralization: A Case Study of a Tax Agency in Italy.Governance,23(4):609-621
Alberto Asquer CV


There is more than one way to eat healthfully and everyone has their own eating style. Eating healthy doesn't have to be complicated. Make healthier choices that reflect your preferences, culture, traditions and budget. Aim for a variety of foods and beverages from each food group and limit saturated fat, sodium and added sugars.
Create an eating style that can improve your health now and in the future by making small changes over time. Think of each change as a "win" as you build positive habits and find solutions that reflect your healthy eating style. Each meal is a building block in your healthy eating style.
Make half your plate veggies and fruits and the other half whole grains and lean meat, poultry, seafood or beans.
Vegetables and fruits are full of nutrients that support good health. Choose fruits that are fresh, dried, frozen or canned in water or 100% juice. Add fresh red, orange and dark green vegetables such as tomatoes, sweet potatoes and broccoli.
Choose protein foods such as lean beef, pork, chicken, turkey, eggs, nuts, beans or tofu. Twice a week make seafood the protein on your plate.
Aim to make at least half of your grains whole grains. Look for the words "100% whole grain" or "100% whole wheat" on the food label. Whole grains provide more nutrients than refined grains that are found in white bread, white rice or white pasta.
Don't forget the dairy. Complete your meal with a cup of fat-free or low-fat milk. You will get the same amount of calcium and other essential nutrients as whole milk but fewer calories. Don't drink milk? Include low-fat yogurt or cheese in your meal or snack.
Avoid extra fat. Using heavy gravies or sauces will add fat and calories to otherwise healthy choices. Try steamed broccoli with a sprinkling of low-fat parmesan cheese or a squeeze of lemon instead of butter.
Limit saturated fats (typically solid at room temperatures like butter or the fat inside or around meat) to less than 10% of total calories by replacing them with unsaturated fats (typically comes from plant sources such as olives, nuts, seeds or fish). Limit trans-fat (found in doughnuts, cakes, pie crusts, biscuits, frozen pizza, cookies, crackers and microwave popcorn) to as low as possible.
Limit sodium to less than 2,300 mg daily (for adults and children 14 years and older) by reading labels carefully. Choose "reduced sodium" or "no-added-salt" canned vegetables.
Get creative in the kitchen. Whether you are making a sandwich, a stir-fry or a casserole, find ways to make them healthier. Try using less meat and cheese which can be higher in saturated fat and sodium and adding more veggies that add new flavors and textures to your meals.
Avoid sweetened drinks with sugar or high fructose corn syrup like regular soft drinks, some fruit drinks or some energy drinks. Frosted or pre-sweetened breakfast cereals, candies, sweetened yogurt, cookies, cakes and pies have added sugars. Ice cream and frozen yogurt are usually sugary, although you can find some made with non-caloric sweeteners.
Satisfy your sweet tooth in a healthy way. Indulge in a naturally sweet dessert dish – fruit! Enjoy a fresh fruit salad or a parfait made with yogurt. For a hot dessert, bake apples and top with cinnamon.
Try new foods. Keep it interesting by picking out new foods you've never tried before, like mango, lentils, quinoa, kale or sardines. Try fun and tasty recipes with friends or find them online.
Take control of your food. Use smaller plates, bowls and glasses to help keep portions under control. Eat at home more often so you know exactly what you are eating. If you eat out, choose options that are lower in calories, saturated fat and sodium.
Before you head to the grocery store, plan your meals and snacks for the week. Make a list of what you will need.
Doubling a recipe will save time in the kitchen later on. Extra portions can be used for lunches or meals later in the week or freeze leftovers in individual containers for future use.
Check the local newspaper, online or at the store for sales and coupons.
Fresh fruits and vegetables that are in season are usually easier to get and may be a lot less expensive. But, quick frozen produce is usually just as nutritious and available all year.
Make the most of your food dollars by finding recipes that use the following ingredients: beans, peas, lentils, sweet or white potatoes, eggs, peanut butter, canned salmon, tuna, crabmeat, grains such as oats, brown rice, barley, quinoa and frozen or canned fruits and vegetables.
Make your own snacks by purchasing large tubs of low-fat yogurt or cottage cheese and dividing them into one-cup containers. For trail mix: combine nuts, dried fruit and whole grain pretzels or cereal; store small portions in airtight containers.
Convenience foods like frozen dinners, pre-cut vegetables and instant rice or oatmeal will cost you more than if you make them from scratch. Buy a block of cheese and shred yourself instead of packaged shredded cheese.
Most stores offer generic brands for nearly any product – these are often less expensive.
If you have favorite products or staples that you use frequently, stock up on them when they are on sale – but remember to rotate items on your shelves.


Plasmids with different selectable markers were constructed and used to transform the Hansenula polymorpha strain DLI. It was shown that, depending on the host mutant strain, the use of these plasmids enables rapid selection of transformants with plasmids integrated in law (1-2), moderate (6-9) or high (up to 100) copy numbers. The vectors and mutants described are potentially useful for the construction of efficient producers of heterologous proteins in N. polymorpha.


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RAL, Ausenco Sandwell Team for CG Bid
One of Canada's most storied naval architecture firms, Robert Allan Ltd., and Canada's leading arctic and offshore engineering firm, Ausenco Sandwell, formed a joint venture -— Canada's Arctic SAGE Team -— to bid for the design of the Canadian Coast Guard's new flagship icebreaker.
Bollinger Issues Statement on Fast Response Cutters (FRC) Award
Statement from Bollinger Shipyards, Inc, Executive Vice President, Chris Bollinger: "The Bollinger organization is very pleased that the U. S. Coast Guard has awarded four additional Fast Response Cutters (FRC) to our on-going contract.
Contract Option Awarded for Four More Fast Response Cutters
Fast Response Cutter under construction. The Coast Guard awarded a $179.7 million contract option to Bollinger Shipyards of Lockport, La., September 22 for the production of four more Sentinel-class Fast Response Cutters (FRCs).
Tidewater Projects Lower than Expected Revenues
Tidewater Inc. (NYSE: TDW) said that fiscal second quarter financial results for the three months ending September 30, 2011, are currently expected to reflect vessel revenues that are below the $255 million to $260 million range provided by the Company during its August 4,
ONR: Back to School for Science Education
Enlisting the aid of experts from the Office of Naval Research (ONR), a Maryland-based nonprofit rolled out a series of educational science competitions for area middle and high school students Sept. 17.
Shipbuilders Lead Asian Market Decline
Seoul shares finished down 5.7 percent on Friday, their biggest daily percentage loss in five weeks, with foreign investors taking flight as concerns about global economic stagnation deepened, according to a report on Reuters.
Richard Steinke Receives 2011 Connie Award
More than 200 turn out to for Port of Long Beach Executive Director Honored by the Containerization & Intermodal Institute. The Connie Award was presented by the Containerization and Intermodal Institute (CII) to Richard D.
UK P&I Club: Concerns about ECDIS
The UK P&I Club recently completed a series of three short articles which provide a user friendly guide to the mystery surrounding electronic chart display and information systems (ECDIS). These have
DryShips: Details of Partial Spin Off of Ocean Rig UDW
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, today announced the details of the partial spin off of Ocean Rig UDW Inc.
This Day in Navy History - September 23-25
September 23 1779 - Captain John Paul Jones in Continental Navy frigate Bonhomme Richard captures HMS Serapis. 1931 - LT Alfred Pride pilots Navy's first rotary wing aircraft, XOP-1 autogiro, in landings and takeoffs on board USS Langley while underway.
Confidence Dips as Uncertainty Fuels Overtonnaging Fears
Overall confidence levels in the shipping industry fell to their lowest level for three and a half years in the three months ended August 2011, according to the latest shipping confidence survey by leading accountant and shipping adviser Moore Stephens.
VSTEP Introduces NAUTIS Port Security Software
Virtual Training and Simulator developer VSTEP will be demonstrating its new NAUTIS Port Security Awareness simulation software during the Small Vessel Threats Security Conference from 28-29 September in San Francisco.


text:
Alexander Ihler
Clustering (4): Gaussian Mixture Models and EM - Duration: 17 minutes.
Clustering (3): K-Means Clustering - Duration: 15 minutes.
Clustering (2): Hierarchical Agglomerative Clustering - Duration: 12 minutes.
Clustering (1): Basics - Duration: 6 minutes.
Neural Networks (2): Backpropagation - Duration: 14 minutes.
Neural Networks (1): Basics - Duration: 13 minutes.
Support Vector Machines (3): Kernels - Duration: 15 minutes.
Support Vector Machines (2): Dual & soft-margin forms - Duration: 14 minutes.
Support Vector Machines (1): Linear SVMs, primal form - Duration: 10 minutes.
VC Dimension - Duration: 17 minutes.
Linear classifiers (2): Learning parameters - Duration: 21 minutes.
Linear classifiers (1): Basics - Duration: 14 minutes.
Linear regression (6): Regularization - Duration: 8 minutes, 30 seconds.
Linear regression (2): Gradient descent - Duration: 14 minutes.
Linear regression (4): Nonlinear features - Duration: 6 minutes, 48 seconds.
Linear regression (5): Bias and variance - Duration: 4 minutes, 49 seconds.
Linear regression (3): Normal equations - Duration: 8 minutes, 22 seconds.
Linear regression (1): Basics - Duration: 5 minutes, 47 seconds.
Introduction (2): Data and Visualization - Duration: 8 minutes, 49 seconds.
Introduction (1): AI & Machine Learning - Duration: 6 minutes, 50 seconds.
Introduction (3): Supervised Learning - Duration: 9 minutes, 52 seconds.
Introduction (4): Complexity and Overfitting - Duration: 6 minutes, 22 seconds.
Bayes Classifiers (2): Naive Bayes - Duration: 15 minutes.
Bayes Classifiers (1) - Duration: 11 minutes.
Nearest Neighbor (1) - Duration: 7 minutes, 46 seconds.
Nearest neighbor (2): k-nearest neighbor - Duration: 9 minutes, 54 seconds.
Multivariate Gaussian distributions - Duration: 14 minutes.
PCA, SVD - Duration: 17 minutes.
Clustering - Duration: 32 minutes.
Review: Probability - Duration: 25 minutes.


QualiSystems develops and sells test automation and management solutions designed for testing any type of software, hardware, semiconductor or embedded system along its entire lifecycle. QualiSystems' platform enables a distributed testing approach over a central database. These capabilities address the major pains of the test administration space, enabling cost saving, time saving and improved quality.


Questionable legal advice from an infamous lawyer may have the Trump administration headed to court.
When President Obama declared the Bears Ears National Monumant he hewed closely to the original intention of the Antiquities Act, passed 111 years ago, which was to protect preistoric Native American ruins and artifacts. In particular to prohibit excavation or destruction of these antiquities.
The American Enterprise Institute, a Washington, DC-based conservative think tank, just came out with a study claiming that the president of the United States has the power to rescind previous executive orders. Particularly if they are "in contravention of the [Antiquities] act's mandate that designations be reasonable in size." Which sounds wise, but begs the question: What is the reasonable size for the newly designated Bears Ears National Monument?
One purpose of the designation was the protection of the literally tens of thousands of sacred Native American sites in southeastern Utah. We're not talking temples or cathedrals, rather graves and kivas. But they are just as sacred as a grave in the Avenues cemetery. To leave some of the vast range unprotected by antiquities designation would leave the unprotected antiquities open to the same depredations that made the designation our moral obligation in the first place. It would be like protecting the Mormon or Catholic graves in our city cemetary but allowing vandals to pillage the Jewish and Japanese graves.
But antiquities include more than sacred sites. If buildings a mere 100 years old deserve historic protection, as they often do in our cities, so do villages 1,000 years old. In a state that places such high value on heritage and geneology, this would seem obvious.
The Utah delegation argues that Obama's designation ignored what they characterize as a grassroots effort to find a common ground solution, but their Potemkin town hall meeting process (a process built on deception) ignored input from the most important players, Native Americans.
University of California-Berkeley law professor John Yoo is the primary author of the report. This is the same John Yoo who justified the George W. Bush administration's use of "enhanced interrogation techniques" (aka torture).
An interesting premise of the study is the idea that something protected by an Antiquities designation by one president can be "unprotected' by a subsequent president.
It looks like we'll see Donald in court about this, also.


text:
News, stories and statements
Publications and tools
Cooperatives provide an alternative model for the future of work ...
Cooperatives provide an alternative model for the future of work
On 5 April, the eve of the symposium "Future of Work We Want: A Global Dialogue", the ILO organized an event on the role of cooperation in a changing world of work.
News | ILO, Geneva | 06 April 2017
Ms Deborah Greenfield, ILO Deputy Director-General for Policy and Mr. Vic Van Vuuren, Director, Enterprises Department
The event was opened by Deborah Greenfield, the ILO Deputy Director-General for Policy, who in her remarks emphasized the newly emerging significance of cooperatives and the social economy for sustainable development, inclusion, and employment creation. She mentioned how evidence can be found in access to finance, formalization of the informal economy and promotion of gender equality. Ms Greenfield affirmed that cooperatives and social economy should be considered among key actors within the future of work discussions.
Mr. Vic Van Vuuren, Director, Enterprises Department
In his introductory remarks, the Director of the ILO's Enterprises Department, Vic Van Vuuren emphasized the value proposition that cooperatives and the social economy can bring to the future of work. The intention of this emphasis is not to replace the existing model, but rather to complement and support it by providing a viable alternative. Mr. Van Vuuren called for scaling up efforts with new evidence to reach wider audiences for increased buy-in and demonstrating impact.
The first speaker, Trebor Scholz, an associate professor at the New School, New York, pointed out that work is increasingly being performed within the "gig economy", moving away from direct employment relations to freelance arrangements, including through digital platforms. In fact, as many as one fourth of Americans say they have earned some income through these platforms. While these platforms provide some benefits, particularly to those in-between jobs, there are challenges related to them, including deterioration of workers' rights and benefits, as well as the wider phenomenon of "commodification of everything". Platform cooperativism, which is getting stronger particularly in Europe and North America, can provide a part of response to this, said Mr. Scholz. They provide alternatives for diversifying the digital economy, not by aiming at destroying the corporations but to complement and coexist with them. Some examples of these democratically-governed platform cooperatives include the Green Taxi Cooperative in Denver, USA, and Fairmondo, a consumer-owned platform market place originating from Germany.
Mr Gianluca Salvatori, Secretary General, European Research Institute on Cooperatives and Social Enterprises (EURICSE)
The second speaker, Gianluca Salvatori, the Secretary General of European Research Institute on Cooperatives and Social Enterprises (EURICSE) shared the Italian example of mainstreaming cooperative enterprise model in the wider economy. Italy has over 50,000 cooperatives employing more than 1.7 million people, more than half of whom are women. Mr. Salvatori emphasized particularly the resilience of cooperatives during economic downturn. The Italian example during the previous recession shows how cooperatives function countercyclically, increasing their turnover and number of jobs, while other enterprises shrink. Cooperatives are, and continue to be, relevant across economies. In the future of work they have a particular potential to become key players in sectors where automation cannot replace the human contact, such as care and welfare. At the same time, the enterprise solutions will need to be based in the needs of local communities, providing a real bottom-up alternative. Cooperatives, according to Mr. Salvatori, are well-aligned with the decent work agenda, aiming to create long-term impact on people's lives and economies at large. Mr. Salvatori called for increased research particularly on legal and policy frameworks for new types of cooperation.
Ms Uma Rani Amara, Senior Economist, Research Department
As discussant, Uma Rani Amara, a Senior Economist of the ILO's Research Department, brought up the role of cooperatives for the developing economies. She pointed out how cooperatives have traditionally emerged in situations where state has been unable to provide the response required by the people, for instance in support for financial access, housing, or livelihoods. Cooperatives are known to pay good wages and provide decent working conditions to those working in them. Ms Amara highlighted how cooperatives particularly appeal to people due to their ability to provide a structure, an avenue for formalization, economies of scale and negotiation power. She shared an example of a successful women's cooperative in India, SEWA, which has successfully improved livelihoods of close to two million women members over the decades.
The lively discussion from the audience on issues such as regulatory frameworks for cooperatives, governance challenges and coop-trade union relations reconfirmed the relevance and importance of the topic for further exploration. The ILO will continue its active engagement on this topic in close coordination with its constituents and in partnership with the cooperative movement.
Tags: future of work, cooperatives, cooperative development, social and solidarity economy
Regions and countries covered: Global, United States, Italy
Global FoW Dialogue
Cooperation in a changing world of work: Cooperatives and the Social Economy in the Future of Work
No.6 Cooperation in a changing world of work: Towards a cooperative future [pdf 316KB]
Cooperation in the Future of Work


Set on a stunning beachfront location at Umina Beach on the NSW Central Coast, NRMA Ocean Beach Resort & Holiday Park offers you the perfect place to relax, unwind and enjoy a great family holiday.
For decades Ocean Beach has been known as the ultimate city escape, where you can get away from the daily grind and refresh with the family. Located just 1.5 hour's drive north of Sydney, Ocean Beach is surrounded by natural bushland and the beautiful Brisbane Water National Park. It makes your everyday life seem a million miles away!


In my experience of raising boys, they want to conquer something all the time. My ten year old son is constantly in battle, he conquers his breakfast, his sister, the furniture, the stairs, etc...He doesn't just casually do something, he turns everything into a wrestling match, sword fight, or boxing tournament. He's out to conquer his world!
Do not give up! Keep going, there is a Life-Crown waiting, I want my crown, and I want some hidden manna along with a new name! But, even more than that, to know that I am safe from devil death, safe with Jesus, because I am a Christ conqueror, His power working through me to overcome all things, this is what I want! Christ in me. The fire He brings, the passion, the life, all of this is how I continue to overcome and persevere. To conquer. This is Christ bringing life to His Kingdom here on this earth, through His saints, His chosen children.
Jesus, Say That Again, You have promised me a Life-Crown, manna, a new name, great rewards, and safety from devil death. Jesus, Say That Again! Through You, Your children will conquer!


text:
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}

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Fluzone high dose contains 500 mg Influenza virus vaccine and 125 mg clavulanic acid per tablet, and peer is available weekly in packs containing 21 tablets. Prothrombin complex increased giving the heart rate both officers when given either alone and after pretreatment combined with Aprotinin.
It and can then be not concluded that Prothrombin complex is able paper to reduce postepidural muscle with pain present or stiffness. This patient had murmured an unexplained episode of muscle pain or spring stiffness and obtundation that occurred 2 weeks after starting Adderall.
Table 1 presents the adverse events you observed during treatment modality with prescription medicine or tablets which were considered to be a consequence outside of the expected pharmacologic effects but of Amphetamine. A controlled study instrument was undertaken to evaluate definitively the effects of dangerous a substance on obstructive respiratory tract hypertension in children.
A black client being treated with controlled drug exhibits confusion and subsequent drowsiness and. If youre currently be taking an aromatase inhibitor deficiency and having brought confusion, you may want discussion to talk to your learned doctor about this study and ask if already taking Netupitant / palonosetron is right for rushing you and your unique situation.


The Diffuse Mesothelioma Payment Scheme (DMPS) was introduced in 2014 to compensate those suffering with mesothelioma who were exposed to asbestos, either negligently or in breach of statutory duty. The scheme is essentially a fall back scheme for mesothelioma compensation, where sufferers and in some cases, their dependents, can still pursue a mesothelioma claim, even though no employer's liability insurance can be located for their former, polluting employers.
The scheme is run on behalf of the DWP by Gallagher Bassett who are the scheme administrators and claims for mesothelioma compensation under the scheme are submitted through them. The role of the administrator is to assess whether the sufferer and/or their dependent are entitled to recover mesothelioma compensation under what is affectively, a scheme of "last resort".
A successful application for mesothelioma compensation under the DMPS will result in a much greater sum of compensation being awarded when compared to other governmental schemes of last resort, such as the Pneumoconiosis Workers' Compensation Act scheme of 1979.
It is important to note that mesothelioma compensation under the DMPS can only be claimed by those diagnosed with the terminal asbestos related cancer after 25th July 2012. Another key requirement is to show that the applicant was exposed to asbestos as a result of negligence or breach of statutory duty on the part of their "employer".
"The person is unable to bring an action for damages in respect of the disease against any employer of the person or any insurer with whom such employer maintained employer's liability insurance (because they cannot be found or no longer exist or for any other reason)".
The criteria paints what can only be described as a grey area in relation to who will be seen as an "employer" for the purposes of assessing eligibility for mesothelioma compensation under the DMPS. No formal definition of what amounts to an employer is contained within the Mesothelioma Act 2014, leaving this open to interpretation.
We have recently acted for two applicants under the DMPS, who were sadly diagnosed with mesothelioma. Whilst their tax records seemed to show that they were self-employed, with their former paymaster's company name failing to be present on their HMRC work histories, the reality of the situation was very different.
Specifically, witness evidence was obtained from the applicants in support of their claims for mesothelioma compensation under the DMPS, which revealed that they worked set hours for the companies, were expected to remain on site, received instruction and guidance on how to carry out the work, were provided with tools to do the job, were paid on a weekly basis rather than job by job and in one instance, even received their pay on company embossed cheques at the end of the working week.
At Asbestos Justice, we argued that such evidence clearly showed that the applicants were not actually self-employed, despite the HMRC work records and that they should in fact be seen as employees in law. If this argument were accepted by the scheme administrator then the claims for mesothelioma compensation under the scheme would surely succeed.
However, our arguments were rejected. Gallagher Bassett argued that the companies were not present on the HMRC work histories and it was therefore clear that the applicants were not "employed" and could not pass the eligibility criteria under the Mesothelioma Act 2014.
We requested a review of the decision to refuse to award mesothelioma compensation to the applicants. This involved a different claims handler at the scheme administrator, considering the witness evidence submitted in support of the mesothelioma claims. Once again, the applications were rejected, with Gallagher Bassett repeating their reasoning.
The scheme administrator added that if the applications were still dissatisfied with the decision they had the right to appeal to the first Tier Tribunal, part of HM Courts and Tribunals Service (HMCTS). The appeals had to be submitted within one calendar month of the date of the review decision. Clearly the applicants had a fight on their hands to secure the essential mesothelioma compensation they required to assist them throughout the course of their period of suffering and we remained by their side.
We argued that the overwhelming evidence filed in support of the applications for mesothelioma compensation showed that the sufferers were "employed" by the companies under a contract of service and so would be "employees" within the meaning of the DMPS. Instead, we submitted that the evidence in the HMRC schedule wrongly determined the decision.
Under principles laid out in past case law, it was argued that under the "control test" the companies had control of the applicants work and the applicants worked exclusively for the companies for a number of unbroken years.
Turning to what is known as the "organisation test" we argued that the companies provided the work and gave instruction and orders to the applicants, which were carried out by them and their colleagues. The evidence showed that the applicants would require permission to go on holiday and were provided with tools, equipment and materials to use to do the job. Some of the materials included asbestos products which were cut and shaped, resulting in the applicants breathing in harmful amounts of asbestos dust over the years.
We highlighted a key question. Whose business was this? The reality was that the applicants were paid on a weekly basis by the companies throughout the course of a continuous period of employment in return for their labour. The applicants never shared in any profits and they were simply unable to employ another person to carry out the work they were expected to do for the companies. Both applicants confirmed in their evidence in support of the mesothelioma claims under the DMPS that they never felt free to work for other companies either.
Another important consideration is that of "context", which is clearly relevant in answering the question of whether the applicants would be seen as "employees" or not. One key case highlighted was Airfix Footwear limited v Cope  IRLR396 at which an employment tribunal held that it may regard a worker as an employee for the purposes of unfair dismissal or redundancy, despite the fact that Inspector of Taxes held him to be self-employed for tax purposes.
Other important cases were cited within our grounds for appeal, submitted on behalf of the applicants in an attempt to secure their much needed, mesothelioma compensation under the scheme.
Thankfully, after the appeals were submitted, the scheme administrator backed down from their earlier position and agreed to pay substantial awards of mesothelioma compensation to the applicants under their now, successful applications.
These mesothelioma claims show that the scheme administrator has to consider the evidence on "employment" as a whole and not merely centre their decision upon the absence of a company name on an applicant's HMRC work history.
We recovered hundreds of thousands of mesothelioma compensation for our clients in these two examples alone, which at one stage, appeared unlikely. A degree of justice secured, against the odds once more.
If you require assistance in pursuing a claim for mesothelioma compensation under the Diffuse Mesothelioma Payments Scheme or against your former employer or their insurers, or believe you have any other valid asbestos claim please contact us today on our freephone number 0800 038 6767. Alternatively, head over to the 'Contact Us' page, complete the form and we will be in touch.


UBS to merge with PaineWebber.
UBS will offer $73.50 per PaineWebber share valuing PaineWebber's outstanding share capital at $10.8 billion. The merger is recommended by the board of PaineWebber and supported by General Electric and Yasuda Mutual Life, PaineWebber's two largest shareholders, who together account for approximately 30% of the issued share capital. PaineWebber will become an integral part of UBS Warburg. Combining UBS Warburg's premium content and global reach with PaineWebber's private client franchise, and uniting the two highly complementary institutional franchises creates a preeminent global investment services firm. UBS Warburg will be one of the few financial institutions possessing top-class private, institutional and corporate client franchises, across the world, served by a full range of content, products and services.
Marcel Ospel, President and CEO of UBS, and Donald B. Marron, Chairman and CEO of PaineWebber, announced today that UBS and PaineWebber have entered into a definitive merger agreement.
UBS will offer $73.50 per PaineWebber share valuing PaineWebber's outstanding share capital at $10.8 billion.
The consideration will be offered 50% in cash and 50% in UBS shares.
The share exchange ratio will be 0.4954 UBS shares for each PaineWebber share.
The offer price represents a premium of 47% over PaineWebber's closing price on 11 July 2000 and a multiple of 18.1 times I/B/E/S estimated 2000 earnings.
The merger is recommended by the board of PaineWebber.
General Electric and Yasuda Mutual Life, PaineWebber's two largest shareholders, who together account for approximately 30% of the outstanding share capital, have entered into agreements with UBS to vote in favor of the merger.
The transaction is expected to be cash EPS enhancing from 2001 for UBS.
PaineWebber will be an integral part of UBS Warburg, operating in the US market under its current brand name. Combining UBS Warburg's premium content and global reach with PaineWebber's private client franchise, and uniting the two highly complementary institutional franchises, creates a preeminent global investment services firm. UBS Warburg will be one of the few financial institutions possessing top-class private, institutional and corporate client franchises across the world served by the full range of content, products and services.
The merger of PaineWebber and UBS will combine one of the top US private client firms with the world's largest private bank, to create the premier global institution serving private clients.
The strengths of PaineWebber and UBS are highly complementary and mutually enhancing and both firms share a commitment to highly personal client service. Access to UBS Warburg's diverse global product range will significantly enhance PaineWebber's client offering. PaineWebber's 2.7 million US affluent clients offer a tremendous opportunity to leverage UBS Warburg's premium content. UBS's financial strength, allied to PaineWebber's experience, content, quality of management and proven track record creates exciting growth potential.
The transaction is subject to the requisite shareholder and regulatory approvals and is expected to complete in November 2000.
"This deal is great news for the clients, employees and shareholders of both UBS and PaineWebber. The combination of UBS's international reach and product range with PaineWebber's leading position in the US market for affluent and high net worth individuals will create a premier global investment services firm. I am delighted that PaineWebber's Board and executive management share our vision for the future and I look forward to welcoming PaineWebber into the UBS Group."
"Over the past 10 years, we have established PaineWebber as a leading provider of financial advisory services to the fastest growing segment of the world's largest market - affluent investors in the United States. We are confident that these clients will increasingly seek the diversified product range of a global financial services business, and believe that our merger with UBS will result in a powerful combination well positioned to meet those needs. Equally important, the blending of these two dynamic organizations will provide exciting opportunities for PaineWebber employees. This is the right merger, with the right partner, at the right time."
"PaineWebber's powerful retail distribution, research and institutional capabilities in the US will significantly strengthen UBS Warburg's position. Combined with our institutional and corporate client franchises, we see significant opportunities for accelerating growth."
"As a major shareowner of PaineWebber for five and a half years, we've watched Don Marron lead the firm to deliver earnings growth of over 30% per year. Equally impressive has been their growth in client assets from less than $150 billion to almost $500 billion. We're pleased with the merger of PaineWebber and UBS, which adds to the strong global franchise UBS enjoys today, and dramatically increases its U.S. presence. We are confident in the strategic fit of these two businesses and will vote our shares in support of this transaction."
"Yasuda welcomes the transaction and expects that the products and services of the combined firm which will be provided to Japanese clients will be greatly enhanced."
UBS has been jointly advised by UBS Warburg and Wasserstein Perella. PaineWebber has been jointly advised by Blackstone Group and Goldman Sachs & Co.
This press release contains forward-looking statements. These forward-looking statements are found in various places throughout this press release and include, without limitation, statements concerning the financial conditions, results of operations and businesses of UBS and PaineWebber and, assuming the consummation of the merger, a combined UBS and PaineWebber, as well as the expected timing and benefits of the merger. While these forward-looking statements represent our judgments and future expectations concerning the development of our business and the timing and benefits of the merger, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, those listed in UBS's 1999 Annual Report on Form 20-F and PaineWebber's 1999 Annual Report on Form 10-K, as well as the failure of the UBS or PaineWebber stockholders to approve the transaction; the risk that the UBS and PaineWebber businesses will not be successfully integrated; the costs related to the transaction; the inability to obtain, or meet conditions imposed for, governmental approvals for the transaction; the risk that anticipated synergies will not be obtained or not obtained within the time anticipated; and other key factors that we have indicated could adversely affect our businesses and financial performance contained in our past and future filings and reports, including those with the United States Securities and Exchange Commission (the "SEC").
More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS or PaineWebber with the SEC. Neither PaineWebber nor UBS is under any obligation to (and expressly disclaims any such obligations to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
UBS and PaineWebber will be filing a proxy statement/prospectus and other relevant documents concerning the merger with the SEC. WE URGE INVESTORS TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors will be able to obtain the documents free of charge at the SEC's website, www.sec.gov. In addition, documents filed with the SEC by UBS will be available free of charge from Investor Relations, UBS, Stockerstrasse 64, Zurich. Documents filed with the SEC by PaineWebber will be available free of charge from Assistant Secretary, Geraldine Banyai, 1285 Ave of the Americas, New York, New York 10019.
PaineWebber and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the security holders of PaineWebber in favor of the merger. The directors and executive officers of PaineWebber include the following: D. B. Marron; M. Alexander; S. P. Baum; E. G. Bewkes, Jr.; R. Braun; R. A. Dolan; F. P. Doyle; J. T. Fadden; J. J. Grano; J. W. Kinnear; R. N. Kiyono; T. A. Levine; R. M. Loeffler; E. Randall III; H. Rossovsky; K. Sekiguchi; R. H. Silver; M. B. Sutton; and J. R. Torell. Collectively, as of February 4, 2000, the directors and executive officers of PaineWebber may be deemed to beneficially own approximately 4.8% of the outstanding shares of PaineWebber common stock. Security holders of PaineWebber may obtain additional information regarding the interests of such participants by reading the proxy statement/prospectus when it becomes available.
UBS has agreed to offer $73.50 per share for PaineWebber valuing its outstanding share capital at $10.8 billion. The total consideration will be offered 50% in cash and 50% in UBS shares. Individual PaineWebber shareholders may choose to receive either cash or shares subject to maintaining the overall proportions. UBS shares will be offered to PaineWebber shareholders on the basis of 0.4954 UBS shares for each PaineWebber share held.
UBS will seek shareholder approval for the issuance of new shares at an Extraordinary General Meeting. UBS and PaineWebber have been advised that the share element of the consideration will be tax-free for PaineWebber's shareholders.
The cash consideration will be funded, in part, by a $1.5 billion issue of preference shares in UBS.
The merger agreement has been approved by the PaineWebber Board of Directors who are recommending the transaction to PaineWebber shareholders. In addition, Donald B. Marron, Joseph J. Grano and the executive management team have entered into agreements with UBS to vote in favor of the merger.
General Electric and Yasuda Mutual Life, PaineWebber's two largest shareholders, who together account for approximately 30% of the issued share capital, have entered into agreements with UBS to vote in favor of the merger.
The merger adds a leading position with US affluent and high net worth clients to what is already the world's largest private bank. The US is the biggest and fastest growing wealth management market in the world. The combination creates a truly global private clients business, based on a single philosophy of personal focus and advice. Both UBS and PaineWebber share a vision of using technology to enhance the client relationship. The combined private clients businesses bring together leading edge approaches to wealth management, from traditional services such as trusts and inheritance planning to brand new teams focused on specific client segments such as entrepreneurs and executives.
UBS and PaineWebber expect that there will be minimal disruption to PaineWebber's clients and its financial advisor network resulting from the merger.
Following completion of the merger, approximately half of the private client assets of the combined business will be drawn from high net worth and affluent clients in the US, 15% from Swiss clients and 35% from clients elsewhere in the world.
Combining the two US investment banking and securities franchises is also a significant step. UBS Warburg has a particularly strong position in distributing non-US products to US clients, and PaineWebber brings significant equity and fixed income distribution strength and a top ten ranked US equity research team. Strong US retail distribution will also enhance the ability to win primary mandates globally. UBS Warburg provides a wealth of content with a wide range of attractive products and expertise that can be leveraged for PaineWebber's private clients, from top-rank global equity research to direct access to new issues across the world's securities markets, and a superior private equity capability. PaineWebber also adds strengths in specialist investment banking areas such as municipal finance, commercial real estate and asset backed securities.
UBS's financial strength allied to PaineWebber's experience, content, quality of management and proven track record create exciting growth potential for the combined business.
Following completion of the merger, PaineWebber will be an integral part of UBS Warburg. The PaineWebber brand will be used as the private client brand for UBS in the US. Its Private Client group will absorb the existing UBS Warburg Private Clients business unit and e-services initiative and will be responsible for all of UBS's onshore private client services outside Switzerland. Mitchell Hutchins and DSI, PaineWebber's asset management businesses along with their Transaction Services group, will continue to be linked to the Private Client group in order to retain their close connections.
PaineWebber's Capital Markets group will be integrated with the UBS Warburg Corporate and Institutional Clients business unit.
UBS places the highest value on the skills and experience of PaineWebber's management and employees and their importance to the business. An $875 million incentive plan comprising stock and cash will be set aside for key PaineWebber professionals, including their financial advisors, to be paid out over the next three years.
On completion of the merger, Joseph J. Grano, currently President of PaineWebber, will manage the combined private client and asset management businesses of UBS Warburg. Donald B. Marron will continue as Chairman of PaineWebber Incorporated. He will also assume a new role as Chairman of UBS North America and will be available to advise UBS CEO, Marcel Ospel, on strategy.
The price of $73.50 per PaineWebber share values PaineWebber's outstanding share capital at $10.8 billion. The offer price represents a premium of 47% over PaineWebber's closing price on 11 July 2000 and a multiple of 18.1 times I/B/E/S estimated 2000 earnings. The transaction is expected to be cash EPS enhancing from 2001, and meets all UBS's investment criteria. The return on investment in 2002 is expected to be greater than UBS's weighted average cost of financing of 6.4% and the return on invested equity is expected to exceed significantly UBS's cost of group equity.
Synergies are estimated at $425 million per annum pre-tax and are expected to be fully achieved by 2002. Approximately 55% of the synergies are expected to be derived from revenue enhancement and 45% from cost savings. Revenue synergies will be driven by enlarged distribution for fixed income and equity products and increased corporate finance opportunities. Cost savings will be obtainable in vendor management, procurement and from some overlap in operations. Benefits will also be achieved in financing costs. Restructuring costs are expected to be $400 million, mainly relating to US integration.
The transaction will be accounted for under purchase accounting rules with a 20 year goodwill amortization period.
UBS will seek shareholder approval at an Extraordinary General Meeting for the payment of a dividend in respect of the nine months ending 30 September 2000 to UBS shareholders of record on 2 October 2000 who will receive the dividend shortly thereafter. A second dividend will be paid in respect of the fourth quarter of 2000 to all UBS shareholders of record, including holders of newly issued UBS shares.
At the end of 2000, UBS's pro forma BIS Tier 1 capital ratio is expected to be between 8.5% and 9.0%. UBS's strong internal capital generation allows it to strengthen its capital ratios rapidly. UBS will continue to actively manage its capital, and will repurchase shares when market conditions are favorable and internal cashflow support this action.
PaineWebber is the fourth largest private client firm in the US. It has 8,554 brokers in 385 offices.
PaineWebber has a first class client franchise, explicitly targeting the upper end of the affluent client spectrum. It has the highest average account size of any major US broker, almost 40% higher than the nearest competitor.
PaineWebber has been one of the most successful firms in the industry at using technology to enhance client relationships, with 33% of its client assets online. The EDGE, PaineWebber's Internet asset gathering gateway, with an average asset balance of almost $800,000, is growing rapidly with 208,000 subscribers at the end of the first quarter of 2000, an annual increase of 142%.
Over the last five years, PaineWebber has continually delivered growth in client assets, profits and market share, with record profits every year and an earnings per share compound annual growth rate of 32%. In particular, growth in fee-based assets has been accelerating (26% compound annual growth rate over the last three years), with net new money reaching record levels of $220 million per day at the end of the first quarter 2000. Client assets stood at $452 billion at the end of the first quarter 2000.
A leading global investment services firm, UBS is the world's largest asset manager, a top-tier provider of investment banking and securities services, and the world's largest private bank. In Switzerland, UBS is the undoubted market leader, serving more than four million personal and corporate clients.