"Oracle DBA and Oracle Developer I am an Engineering graduate with 10+ years of IT experience. I did all my studies in India and in 1999 moved to USA. Now I am the Senior DBA at Caseta Technologies. I started my career as an Oracle Forms and Reports Developer. After doing that for about 4 years I gradually moved to backend. Now I am an OCP DBA, experienced in 8i, 9i and 10g. I do both Forms/Reports development and DBA tasks. Most of my work are in UNIX environment (RHEL and Solaris). I am very good in shell scripting, awk, sed. I have tried Java, Perl, C/C++. I can work on it, but I am no expert. I have done some Sys Admin tasks too. (One of those benefits of working in a small company). I maintain some 30+ systems. My recent project is to build a consolidated server that would replace 10 other servers. It's kind of like a dream project to me as I am building it from scratch, starting from OS installation. For the first time I will be using EMC storage. I like meeting new new friends, exchanging ideas. Every once in a while I post responses. Check out my posts. You can also send me invites. Balaji"
Is anyone experiencing this error (ORA-01790)?
Display Image stored in the remote server.
Oracle 8i on x86 Solaris.


Imagine rowing 900km down the Zambezi River in boats with three people each, rotating when possible, enjoying the wildlife and navigating through some treacherous waters. That is exactly what Row Zambezi did.
The expedition was successfully completed in early August after almost three weeks of rowing, navigating from Kafue National Park all the way to the Kafue Flats; 900 kilometres of the Kafue River. The team was a combination of elite and Olympic rowers from the Zambezi River Basin countries of Namibia, Zambia and Zimbabwe, as well as rowers from South Africa, the United States and Great Britain.
Zimbabwean Olympic rower and Filippi Spirit Award winner, Micheen Thornycroft joined this year's expedition. "The Kafue is such a beautiful river and was amazing to see how it changed over the kilometers that we rowed, from wide calm stretches, to shallow and rocky with rapids and hippos, to the flats where the banks were lined with papyrus and not much land in sight. We met so many locals along the way who were all so willing to helps us out in every way possible. The Zambian people are amazing!" Thornycroft says.
Row Zambezi has been involved in the region since 2011, when they organised an expedition to explore 1000km of the upper Zambezi River. This year's focus was on the Kafue Flats. Row Zambezi teamed up with World Rowing and WWF's Clean Water Project, the Kafue River & Rowing Centre. The 2018 expedition finished at the site of the Centre and funds raised were donated to the project.
The expedition also raised awareness about the critical issues faced in the Kafue River. It supplies 40 per cent of Zambia's drinking water and generates 50 per Cent of the country's hydroelectric power. Industry, agriculture and pollution are all taking their toll on the water, which is vital for the people of Zambia.
The 2018 route wound through Kafue National Park and the Kafue Flats, the flood plains of the Kafue River. It is the second largest game park in Africa and is home to crocodiles, elephants, hippos and other predators. This was the first time that rowing boats had been taken into the area.
For Row Zambezi, click here.
For the Kafue River & Rowing Centre, click here.


The Bond is the place to live in Brickell. Step into this spectacular 1 bed + den/ 1.5 bath unit with incredible views of the Miami Skyline. With fantastic amenities including a large gym, kids playroom, library, cabanas, bbq area and much more. Easy to show! Click on virtual tour for a 3d walkthrough of the property with matter port!. Text listing agent.


I was containing my excitement for the new Arctic Monkeys album but when rumours started to circulate that they might be doing a UK tour this year. I couldn't help it no more. So in honour of them, im doing Arctic Monkeys March. Every week in march im gonna upload AM themed videos!
This video is part of a project I'm working on. I'm learning to play my favourite albums on a ukulele. If you enjoyed it why not check out some other classic albums that I arranged. Like Gorillaz or Bombay Bicycle Club.
Not sure how to read these? Check out this guide and you will be learning these Arctic Monkeys ukulele tabs in no time.


Islamic trade finance may reach as much as $800bn a year should Shariah-compliant banks strengthen co-operation with financial institutions in other countries, according to a Bahrain-based regulator.
Trade among the 57-member Organisation of the Islamic Conference based in Jeddah is likely to reach $4tn in 2012, Alchaar said in an interview in Abu Dhabi on February 27. Islamic trade finance has been slow to develop because it remains fragmented, according to Yakub Bobat, Dubai-based global head of HSBC Amanah Commercial Banking.
Shariah-compliant letters of credit are based on the principle of wakalah, where a bank acts as an agent and is paid fees and commissions in place of interest. Non-Islamic trade financing, which typically involves loans and the payment of interest, is forbidden under Islamic law.
Demand for services and products that comply with Shariah law is increasing by about 15% a year and assets will rise to $1.6tn by 2012, according to theKuala Lumpur- based Islamic Financial Services Board, a global standard-setting body.
Global sales of sukuk, which pay asset returns to comply with Islam's ban on interest rates, are showing signs of a recovery this year after slumping in 2010. Issuance has reached $3.9bn from $676mn in the same period last year, according to data compiled by Bloomberg. Offerings fell 15% to $17.1bn last year.
The yield on Dubai's 6.396% sukuk maturing in November 2014 fell 7 basis points last week to 6.4% on March 4, according to Bloomberg data. The extra yield investors demand to hold Dubai's government debt rather than Malaysia's narrowed 2 basis points last week to 344. The spread widened less than 1 basis point today to 345.
The OIC plans to boost trade among member nations to 20% of total trading volume in 2015, according to the group's 10-year plan posted on its website, from 14% in 2004. Trade among OIC members reached 17% in 2009, Jeddah-based Hameed Opeloyeru, assistant secretary-general of economic affairs at the OIC, said in an e-mail response to questions.
The OIC, which includes the UAE, Indonesia and Pakistan, is in talks to establish a free-trade area for its more than 1.4bn people, according to its website.
Founded in 1969, OIC members include Saudi Arabia, the largest oil producer in the Organization of Petroleum Exporting Countries, and Qatar, the world's biggest exporter of liquefied natural gas.
"I started to push for trade finance since last year," AAOIFI's Alchaar said. "I have been getting hundreds of questions on how it could be done and the tool we'd recommend." Murabahah, which Alchaar said is often used for trade financing, is a transaction involving the sale and purchase of goods in which payment is deferred.
Other Islamic principles used for letters of credit include salam, kafalah and istisna and "compliment traditional trade finance letters of credits, and guarantees are fee-based and permissible," Bobat said. A kafalah contract is used to facilitate international trade, data compiled by Bloomberg show.
Shariah-compliant bonds returned 0.1% so far this month after gaining 12.8% in 2010, according to the HSBC/Nasdaq Dubai US Dollar Sukuk Index. Debt in developing markets gained 0.4% in March and climbed 12.2% last year, JPMorgan Chase & Co's EMBI Global Diversified Index shows.
The difference between the average yield for sukuk and the London interbank offered rate declined 2 basis points last week to 317 on March 4, according to the HSBC/Nasdaq Dubai US Dollar Sukuk Index.
The Bloomberg-AIBIM-Bursa Malaysia Sovereign Shariah Index, which tracks nine of the government's most-traded ringgit- denominated securities, gained less than 0.1% to 101.585 on March 4. The gauge has gained 0.5% so far this year.
The AAOIFI, which has more than 200 members, sets accounting and auditing standards that are used in Bahrain, the Dubai International Financial Centre, Jordan and Lebanon, according to its website.


WASHINGTON, Sept. 17 – U.S. Senator Lamar Alexander (R-Tenn.) received the U.S. Chamber of Commerce's Spirit of Enterprise Award, which recognizes members of Congress who consistently cast votes that help businesses create jobs. Alexander has received the award every year since he came to the U.S. Senate in 2003.
The award honors members of Congress whose votes reflect "pro-growth policies," including efforts to defeat Obamacare, based on polling of the American business community's top concerns. Alexander received the award, which is in its 25th year, on Monday at the Maury County Alliance meeting in Columbia, Tenn.
On Monday, Senator Alexander said President Obama's "policies are hurting American workers." Click here to read more.


Often, when a transmission breaks down, your car is not drivable and using your vehicle could cause further damage. In these cases, we will retrieve your car and bring it into the center for a free True Test Inspection – this is the first step to getting you back on the road FAST!
We primarily partner with All-Time towing for this service. They only use flatbed tow trucks which ensure damage-free towing for your car. Other towing providers we call on similarly have a high quality of service to protect your vehicle.
Free towing is just one of the ways we strive to save you money on a major in-house repair such as a transmission rebuild. With our thorough TrueTestTM Inspection process, you will fully understand what is wrong with your car and only pay for the repairs you need. Plus, with our in-house transmission rebuilding capabilities, we will rarely recommend you pay for a whole new transmission when your current transmission can be repaired or rebuilt. Learn more about our approach to a Quality Rebuild.
In many cases, our diagnostic procedures will conclude a minor repair will address your vehicle issue. We are "Geared for Customer Satisfaction" so our goal is to get your vehicle safely and quickly on the road. If we can do that with a minor repair, we'd be glad to save you from a major repair bill. In these situations, we'll request you cover the tow bill which is amongst the lowest in the industry.
From our Arvada / Wheat Ridge location in northwest Denver to our Lakewood location in southwest Denver, we take pride in the loyalty of our thousands of customers across the metroplex. Each year we provide free towing and transmission repair for residents in Denver, Arvada, Lakewood, Aurora, Centennial, Thornton, Westminster, Littleton, Wheat Ridge, Northglenn, Golden, Broomfield, Evergreen, Highlands Ranch and other smaller municipalities. Over the last four decades, we've built countless fleet and wholesale relationships in the Denver metro area and across Colorado. They turn to us for all their transmission needs including power flushes, differential repair, automatic transmission repair, manual transmission repair, and 4WD/AWD system repair.
Customers across the front range in Fort Collins, Boulder, Longmont, Colorado Springs and up through the Rockies also entrust Advanced Transmission Center with their transmission repairs. We can arrange for a tow from anywhere in Colorado to one of our repair shops. Our Colorado customers outside of Denver metro are willing to pay for this service because they realize transmission repairs are difficult and it is important to depend on a brand with ethical practices, strong industry expertise, and a reliable warranty. We can also provide our out-of-town customers extremely low tow rates and we are even willing to subsidize that cost with any major in-house repair.
Call now to arrange a TOW SERVICE or to schedule a FREE DIAGNOSIS!
You can also send us a message to set up an appointment.


In the current political climate, it is important to remember that social media can be an avenue which may lead to some trouble. For example, posting negative or contemptuous words against an elected official may run afoul of Article 88 of the UCMJ. This article prohibits disrespectful or condescending statements against Federal and State officials….
Welcome to the High Desert Warrior Digital Edition If you're looking for news and information on happenings at Ft. Irwin National Training Center, you've come to the right place.


I was nervous and so was He. We walked through the downtown New York City scenery, the statue of liberty on sight, the ferries filled with tourists.
The first stop was the South Street Seaport, but he did not muster the courage -he later confessed- and so we kept walking in a big semi-circle that brought us to the water edge of Battery Park. Then he (finally!) kissed me.
Months later he would tell to me that the jacket made me look "square and corporate". I never wore it again.
Can you think of an outfit you were wearing on a special day and re-create it with shoes, jacket, bag and all? It does not necessarily have to be a happy ocassion, it can be any relevant event, like: what I was wearing the day I graduated, or the outfit I was wearing when I learned I did not have my job anymore. Share a photo with me if you do.
You can put it in flicker or picassa or tweetpick and copy/paste the link on the comments. Remember to mention what was relevant about the outfit. What happened on that day?
Why I write books even though I've lost money on every book I've written (the reason why this is a related post can be seen at the end).
And, of course Follow me on Twitter.


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Electoral Act Amendment: Buhari Returns Bill To National Assembly, Gives Reasons
Wednesday, December 22, 2021 at 7:34 AM by Nnenna Ibeh
Nigeria's president has rejected the Electoral Act Amendment Bill passed to him by the National Assembly for assent
President Muhammadu Buhari urged the lawmakers of the National Assembly to make some corrections and return the bill for him for passage
The president in a letter to the Senate leadership cited the cost of direct primaries, security challenges among others as his major reasons for not signing the bill into law
President Muhammadu Buhari has returned the controversial Electoral Act Amendment Bill to the National Assembly.
In a letter sent to the lawmakers, the president asked that the National Assembly expunge the clause that has to do with director primaries from the amendment bill.
The Punch reports that the president urged the lawmakers to expunge that aspect from the bill and return to him for assent.
Full text of Buhari's letter informing National Assembly of his refusal to sign Electoral Act Amendment Bill
The president cited the cost of direct primaries as one of the reasons he rejected the bill Photo: Aso Rock Villa
Garba Shehu, the president's special adviser on media and publicity confirmed that the letter has been sent to the National Assembly.
Also, sources privy to the content of the letter said President Buhari refused to assent to the bill due to some political dust raised by the bill.
The source said the president had argued that political parties operating across the country already have their constitutions that outlined the mode for primaries.
He said the president had said that it would be unconstitutional to force political parties to adopt direct primaries ahead of elections in the country.
High cost of conducting direct primaries, others
ThisDay also reports that President Buhari in his letter to the Senate president cited the high cost of conducting direct primaries, security challenges, violation of citizens' rights among other things as reasons for rejecting the bill.
Electoral amendment bill: CSOs ask NASS to override Buhari or expunge contentious clause
The president also said in the letter that he received informed advice from all the relevant agencies that would be affected or have anything to do with the amendment of the bill.
INEC sends an important message to President Buhari over Electoral Act Amendment Bill
Meanwhile, Legit.ng previously reported that the Independent National Electoral Commission (INEC) has replied to Buhari's letter on some grey areas in the bill transmitted to him by the National Assembly.
According to sources, INEC claims the bill contains substantial provisions that would lay a solid foundation for important improvements in the electoral process.
The electoral umpire says the bill is capable of deepening public trust, public confidence and overall credibility of the elections and the electoral process.
Femi Falana accuses APC governors of prevailing against Buhari assent to the bill
Governors of the All Progressives Congress (APC) have been accused of influencing the decision of the president the Electoral Act Amendment Bill.
BREAKING: Buhari withholds assent to electoral amendment bill
Femi Falana (SAN) said the governors do not want the president to assent to the bill which has since been passed by the National Assembly.
According to Falana, the governors are aware that manipulation of election results would be difficult with the provision of electronic voting on the new bill.
INECMuhammadu Buhari
Nicole Mitchell Murphy Boo meaning The most expensive house in the world How to load glo card John clark gable
Soludo rejects title, picks new names ahead of inauguration
2023: I went to seek Babangida's blessing, says Bola Tinubu
2023: Why I changed my mind after telling Tinubu, others I won't run for president, APC ex-governor opens up
Asoebi style: Mini illusion maxi dress trend on the rise despite heavy criticisms
Most expensive car in the world 2022: top 10 luxurious vehicles
Na who get money dey save: Reactions as man breaks his piggy bank after 1 year, reveals heap of cash
Singer Jezzyken denies copying Wizkid's persona, after pictures showing their striking resemblance emerge online

redpajama_set_name: RedPajamaCommonCrawl


Whilst the current focus is on lithium ion batteries the next generation of cheaper, safer products is already in development, including sodium ion, magnesium ion, potassium ion and other products. Tin, its alloys and compounds are prominent candidates for anode materials in some of these, and a growing number of developments including tin are noted. Although performance of some prototypes already exceeds commercial lithium ion products, it is likely that such products will find their own market space and indeed some are already being used in niche markets.


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'World Cup dreams' - Lippi back as China coach, four months after leaving
China coach Marcello Lippi. File photo/ Reuters
Marcello Lippi was back as coach of China on Friday, four months after the World Cup winner quit and following a failed stint by fellow Italian Fabio Cannavaro.
The 71-year-old Lippi's return to the top job in Chinese football had been widely tipped in domestic media and will be welcomed by fans.
Lippi, who vacated the role after China were dumped out of the Asian Cup quarter-finals 3-0 by Iran in late January, is tasked with guiding the team to the 2022 World Cup in Qatar.
China have reached the World Cup only once, in 2002, when they exited without a point or scoring a goal.
"Since Lippi coached the national team, they have shown a positive and tenacious fighting spirit," the Chinese Football Association (CFA) said.
"We believe that in the days to come, under the leadership of Lippi and his coaching team, the national men's side will make a full impact on their World Cup dreams."
China sit a lowly 74th in the FIFA rankings, a rung above Cape Verde — whose population is 550,000, compared with China's 1.4 billion.
But under football-fan President Xi Jinping, China have ambitions to host and even win a World Cup.
The reappointment of Lippi, who took Italy to World Cup glory in 2006, follows four months of confusion and speculation.
The former Juventus, Inter Milan and Napoli boss was succeeded by his World Cup-winning captain Cannavaro in March.
The 45-year-old former legendary defender combined the job with being coach of Chinese Super League (CSL) title-contenders Guangzhou Evergrande.
However, China lost to lower-ranked Thailand and Uzbekistan in Cannavaro's opening two matches and he quit, saying that he could not do two jobs at once.
Re-enter his mentor Lippi, who was a three-time CSL champion with Guangzhou and among the best-paid coaches in football during his first spell in charge of the national side.
He will earn similarly well in his second spell, with Evergrande subsiding his wages, Chinese media said.
Lippi, who is surely in his last job in football, marginally improved China last time, winning 13 of his 32 games in charge and losing 11.
He failed to take China to Russia 2018 following his appointment in October 2016, although qualification was already in doubt following a poor run under Gao Hongbo.
Lippi's first match back at the helm will be a home game against the Philippines on June 7, followed by another home friendly, with Tajikistan, four days later.
World Cup qualification starts in September.
China Football Coach Marcello Lippi
Little people, big ambitions: China trials football kindergartens
President Xi Jinping has vowed to make China a footballing force and is prepared to go to great lengths to do it, sending thousands of toddlers to "Football-focused" kindergartens.
China vows to have best football league in Asia
China wants its domestic league to be the best in Asia and "number six in the world" as the country ramps up its ambitions to become a major footballing power by 2050.
Inter Milan name Antonio Conte as coach
Inter Milan on Friday announced the appointment of former Italy manager Antonio Conte as coach with the ambition of returning to the top of world football. The 49-year-old has signed a three-year contract worth
Former Australia national soccer coach Frank Arok dies at 88
Former Australia coach Frank Arok has died in Serbia due to an undisclosed illness. He was 88.
Sania Mirza in tears as she bids adieu to Grand Slam career
Sania and Bopanna were beaten 7-6(2), 6-2 by Brazilians Stefani and Matos, who were playing in their first-ever Grand Slam final.
Sabalenka beats Linette to set up first Grand Slam final with Rybakina at Australian Open
Aryna Sabalenka is into her first Grand Slam final, where on Saturday she will face Wimbledon champion Rybakina, who earlier beat Victoria Azarenka in straight sets.
Babar Azam bags Sir Garfield Sobers Trophy for ICC Men's Cricketer of the Year 2022
Azam was the only player to breach the 2000-run mark during the calendar year across all formats, and he did it in style as he broke past that milestone in style while amassing a whopping 2598 runs at an imposing average of 54.12.
Pakistan cricket star Shadab ties the knot with coach Saqlain's daughter
"Alhamdulilah today was my Nikah. It is a big day in my life and the start of a new chapter. Please respect my choices and those of my wife and our families. Prayers and love for all," he wrote.


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Architecture | 19 Sep 2018
Desert architecture: modern buildings in arid environments
These manifestations of modern desert architecture reveal how design and material can combat the challenging climatic conditions of arid environments and extreme temperatures. Like the cactus and the camel, buildings must adapt to survive. From houses in Arizona, to research centres in Riyadh and installations in Jericho, we slip on some sand shoes and cross sub-tropical expanses to bring you the best of desert architecture.
King Abdullah Petroleum Studies and Research Center
Zaha Hadid Architects
This desert laboratory was designed by ZHA to make minimal energy demands in a region renowned for its extreme climate. Focused on a central research building, with angular prows that jut out across the landscaping, the architecture combines structural boldness with complex patterns on the walls and ceilings, giving the long Islamic tradition of geometric form a literal twist.
Photography: Hufton+Crow. Writer: Jonathan Bell
The modular construction allows for future expansion, while covered outdoor circulation areas help mitigate the effects of solar radiation. Perhaps most notably, the building's musalla (the open space outside a mosque) is the country's very first prayer space to be designed by a woman.
Swartberg House
Openstudio Architects
Karoo Desert, South Africa
Located near the Swartberg mountains on the edge of the Great Karoo desert in South Africa, this four-bedroom home was designed by Openstudio Architects. Built using local materials, the sturdy lodging embraces the diversity of its environment and encourages its inhabitants to exist in harmony alongside nature.
Photography: Richard Davies. Writer: Harriet Thorpe
A passive temperature regulating system specified in the brief largely dictated the design. Huge openings with sliding timber shutters were built into the main living spaces, positioned to interact with the sun. The shutters are a shield from heat in the summer and a sun-trap in the winter, warming up the dense brick floors. Maintaining the traditional styles of the area, Openstudio employed local builders and used techniques typical of Karoo architecture, including brick-on-edge floors, roughcast lime-washed plaster walls and the outdoor dry stone wall which encloses the pool.
King Abdulaziz Center for World Culture
Gharb Al Dhahran, Az Zahran, Saudi Arabia
Rising up from the eastern deserts of Saudi Arabia like an ancient rock formation, the King Abdulaziz Center for World Culture is an ambitious piece of place-making. Nearly a decade in creation, this vast complex was designed by Norwegian firm Snøhetta to serve as a crossroads for many cultures, a geological form rendered in concrete and stainless steel.
Photography: courtesy of Snøhetta. Writer: Jonathan Bell
The centre is broken up into five 'pebbles', smooth, shiny objects that glisten in the sun and appear mysterious and monumental on the horizon. A 98m tower is the dominant heart of the composition, with a smaller 'keystone' to one side and three lower, sleeker structures rising up out of the desert. Most visible of all is the facade's 'veil', made up of approximately 360km of thin stainless steel pipe wrapped around the centre's superstructure, and set above a Kalzip metal skin.
Three Gardens House
AGi Architects
Al-Funaitees, Kuwait
A family came to AGi Architects with the challenge of designing a house that would allow them to live outside 365 days a year, even in the midst of the Kuwaiti summer, when temperatures soar to over 40°C. Architects Joaquín Pérez-Goicoechea and Nasser Abulhasan – principals and founders of AGi – decided to use gardens to solve this request, weaving outdoor living into the fabric of the home while creating three spaces for different activities, times of the day and seasons.
Photography: Fernando Guerra – FG+SG. Writer: Harriet Thorpe
The architects examined the behaviour of the family to define the purposes of the outdoor spaces. 'Due to the extreme Kuwaiti climate we decided to stratify the external uses according to the period of the year and the hours of the day in which these activities could be developed, and accordingly we designed three gardens,' says Pérez-Goicoechea. By cascading the gardens and spaces across different levels, the designers used the architecture as a filter system, subtly delineating the private space for the family members and the more communal spaces for guests.
Hidden Valley Desert House
Wendell Burnette Architects
Cave Creek, Arizona, USA
Sunken into a saguaro-studded knoll at Cave Creek in Arizona, this house by Wendell Burnette Architects, was designed to help its inhabitants pare their lifestyle back to basics. The simple construction entails a concrete plinth, topped with a mighty canopy equipped with mechanicals, energy supplies and water storage for the house. The plinth follows the contours of the land developing into a 'thick' cave at its lower end, and a shaded terrace at its upper end.
Photography: Bill Timmerman. Writer: Harriet Thorpe
The Phoenix-based architects describe the house as a 'long pavilion for living'. The clients requested a home where they could live simply alongside their collection of animals – birds, Koi fish, Rhodesian Ridgebacks and cat. The plinth is two thirds indoor and one third outdoor, always covered to create a shady space for living within the landscape.
Stonematters
AAU Anastas and GSA research lab at ENSA Paris-Malaquais
Jericho, Palestine
In light of the decline of stone building in Palestine, where the material can be found in abundance, Bethlehem-based architecture practice AAU Anastas collaborated with the the GSA Lab of ENSA Paris-Malaquais to research and innovate stone building techniques by examining historic free-form stone vaults across Palestine. The Stonematters pavilion was born from this research and also part of an artists' residency programme in Jericho.
Photography: Mikaela Burstow. Writer: Harriet Thorpe
The structure, which spans a surface area of 60 sq m, has been built entirely out of 300 interlocking stones that are mutually supported. Part of the challenge for the team was that the materials and techniques were locally sourced from the city of Jericho. For example, a polystyrene construction support was roughly cut in a local factory and transported to another factory for a robotic carving process, which determined the specific shapes of the 'bricks'.
Shapeshifter House
Ogrydziak Prillinger Architects
Reno, Nevada, USA
San Francisco-based architect Luke Ogrydziak and his partner Zoe Prillinger were intrigued by the framing of the desert as 'a barren wasteland, a kind of "no place"' when they started working on this family house in a residential suburb of Reno. The house, fittingly entitled Shapeshifter House, is situated in the desert landscape of Nevada, and at the same time draws on this soft, sandy topography, which heavily influenced its striking, origami-like forms.
Photography: Joe Fletcher. Writer: Ellie Stathaki
Spanning three generous levels, the house features a fairly traditional layout – despite its distinctly unconventional shape. The ground level is dedicated to a large, flowing living space that encompasses sitting, dinning and kitchen areas, as well as parking space and storage. A sculptural staircase leads up to the middle floor and a study, as well as one of the house's bedrooms. The top level and its privileged views out towards the city and the surrounding expanse of untamed desert are set aside for the master bedroom, with its own walk-in wardrobe and en suite bathroom.
Tuscon Mountain Retreat
Tuscon Mountain Reserve, Arizona, USA
Placed delicately in its context, architecture firm DUST's Tucson Mountain Retreat is situated on the outskirts of the lush Sonoran Desert, designed in direct response to its intriguing setting. The architects, who describe the project as being 'rooted in the desert', have created a striking rammed earth dwelling that makes minimum impact on its fragile environment. It seamlessly blends into the surrounding Arizona landscape, featuring elegant, clean lines and a minimalist aesthetic.
Photography: Bill Timmerman. Writer: Sara Sturges
The internal programme is separated into three zones: living, sleeping and entertainment areas. These three areas occupy a different section of the structure and the visitor has to step outside one in order to enter the next. This gesture both allows a level of privacy between uses, and urges the inhabitants to be at one with the breathtaking desert landscape.
Ennead Architects
Salt Lake City, Utah, US
New York-based Ennead Architects Natural History Museum of Utah is located on the rugged edge of Salt Lake City. The $103 million, 163,000 sq ft Rio Tinto Center, as the building is called, in the foothills of the Rocky Mountains' Wasatch Range, restates the stark beauty of the region's topography – 'which is like no other in the world,' says architect Todd Schliemann, who toured the state extensively before picking up his pen. With an aesthetic language of rugged elegance, the museum provides research and exhibition space, as well as – crucially – locating visitors within the natural world, and facilitating observation of it.
Photography: Jeff Goldberg Esto
The design's organic properties, which draw upon the elemental natural landscape, are effectively reinforced by Schliemann's material palette: a board-formed concrete base, and some 42,000 sq ft of standing-seam copper paneling, a skin applied in horizontal bands expressive of stratified, mineral-rich mountain rock. Inside the building, the design centres around a spatial coup de theatre called 'the Canyon', a 60-ft-high atrium space, flooded with sunlight and bridged by circulation walkways.
Element House Hotel
Anton Chico, New Mexico, USA
In an effort to restore the sense that we are living on a star amongst the stars, Star Axis, the Mayan-looking land art project and naked eye observatory in the New Mexican desert, took sculptor Charles Ross 40 years to almost-finish. Nearby Elements House is an autonomous visitors' centre, designed by New York-based firm MOS for the Museum of Outdoor Arts as a quasi-hotel for visitors to Star Axis.
Writer: Shonquis Moreno
Meticulously sited to deny visitors any direct views of the artwork, it is an exploded, irregular cluster of room-sized 'houses', with pitched roofs, chunky chimneys and aluminium panels shaped like roof shingles and brick or vinyl siding. It's off the grid, modular design offers an alternative way to experience the site and features a structural insulated panel system that integrates on-site generation of energy.
Bosjes Hotel
TV3 Architects and Town Planners
Botha, Western Cape, South Africa
The old Bosjesman's Valley Farm – a lush Eden of vineyards, olive and fruit trees, and proteas just an hour's drive along the R43 from Cape Town – has been owned by the Botha and Sofberg families since the 1830s, though the property's original Cape Dutch manor house dates back to 1790. TV3 Architects and Town Planners, and interior designer Liam Mooney have converted an outbuilding, an 18th century barn, a 19th century shed and a 1930s stables into a grand five-bedroom guesthouse swathed in sandy hues, chartreuse and copper.
Photography: Adam Letch. Writer: Daven Wu
The guesthouse makes the most of its bucolic setting – diversions range from swooping white curls of the chapel designed by Steyn Studio to rambling walks through gardens vibrant with plants and trees specifically mentioned in the Bible, such as myrtle, African Wormwood, white mulberries, and Eureka lemons.
Toro Latin Kitchen and Bar restaurant
Arthur Casas
Cabo San Lucas, Mexico
At the southern tip of the Baja California peninsula, Brazilian architect Arthur Casas frames the views of the Pacific Ocean and the arid desert vegetation through an unobtrusive rectangular timber frame. The ideal of the traditional adobe – all earth-tones, twig pergolas, straw ceilings and timber rafters, rustic wooden cabinets and flower boxes – is quietly countered by modern notes like Corten steel beams, ceramic pots lined up on shelves suspended on steel cables, and classic furniture by Luis Barragan and Clara Porset.
Writer: Daven Wu
COP22 Village
Oualalou+Choi
For two weeks in November 2016, over 40,000 delegates from 195 countries met in the COP22 village, a mix of temporary structures which were spread out over 30 hectares of land on the southern edge of Marrakech for the UN Climate Change Conference. Using locally-sourced materials, Oualalou+Choi's design reflected the climate summit's focus on sustainable development, and at the same time incorporated local architectural traditions in new ways.
Photography: Luc Boegly. Writer: Mary Pelletier
Inside the village, a series of verandas, patios and atria with accessible rooftops reflected the rural architectural traditions of Morocco. Named 'agora22', the structure housed two restaurants and functioned as communal meeting spaces for delegates, where they could chat comfortably outside of the formal meeting sessions. In keeping with the summit's recyclable remit, 'agora22' was comprised almost entirely of reusable particle board, down to the tables and chairs, all of which will be dismantled and reassembled for future projects.
C.I.D Interpretation Center
Emilio Marin
Expansive, arid and unrelenting, Chile's Atacama desert is undeniably beautiful, making it one of the country's chief tourist destinations. To help lure and orientate tourists to the region, Emilio Marín and Juan Carlos López designed a visitors' centre as part of the infrastructure for the wind farm. The architects describe the project in terms of the relationship between landscape and architecture. Six 'wings' – perhaps better understood as petals arranged around a central core – form wedge-shaped structures, linked by an internal corridor but reading as an abstracted series of forms from a distance, united by the common cladding material.
Photography: Feilpe Fontecilla. Writer: Jonathan Bell
While the structure might appear stark and raw, with its deliberate juxtaposition of angles, shadow and unrelenting colour, it sits as lightly on the ground as possible, with a natural ventilation system focused on the internal courtyard. In the cold winter months, the large windows make the most of solar heating. Most importantly of all, the building is designed to go completely dark at night.
Pobble House
Guy Holloway Architects
Dungeness, Kent, UK
This home stands alone within Dungeness' sparse headland, hovering in the eerie landscape famed for its unique architecture. As dictated by local planning policy, the building (built on the site of an older structure) takes its cue in scale and proportion from its predecessor. Three simple forms – clad in larch, Corten steel, and cement respectively – define the house's volumes and add character, skewered by a long corridor that organises the space inside. As the architects explain, this axis is 'aligned perfectly' with the nearby lighthouse, leading from the living space to the bedrooms while funnelling views out over the expansive nature.
Writer: Emma Blundell
Once inside, the visitor's gaze is always drawn to the outdoors. The large open-plan kitchen and living space features a glazed sliding door that fully disappears in concealed wall pockets when open. A long horizontal window frames the power station. Discreet bespoke furniture lines the interior, carefully designed to avoid detracting attention from the views and enabling the home to 'open up to the landscape'.


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At some point, you may find yourself considering the purchase of a vacant property that's available for immediate occupancy. How can you know if it's a "good deal".
First, it's important to consider how long the property has been vacant, and why it was left unoccupied for that length of time.
While some homes become vacant due to job relocation, marriage, death or other life events, other may have been abandoned following a bank foreclosure, or other financial setbacks. In these cases, the owners were likely under financial pressure, and therefore may not have had the funds to maintain the house. Consequently, the house may have suffered the effects of neglect from deferred maintenance.
House inspections are recommended for any home you are planning to make an offer on, and they are especially important when considering the purchase of a vacant home. However, home inspectors can only assess what is visible, which means that their visual inspection cannot determine what's going on inside the walls of the house. Hidden problems may include issues from broken water pipes and subsequent molds, to stolen copper wiring, if the house has been vandalized. And if the water, gas or electricity has been turned off, the inspection will be additionally comprised.
While there are bargains to be found in the housing market, any vacant property should be approached carefully. The cost and effort of repairs need to be factored into the equation to see if the property is, in fact, a "deal".
A local real estate sales representative is your best source of information on the top home values in your area. Please call for more information, today.


The Prairie and Overland Traveller: A Companion for Emigrants, Traders, Travellers, Hunters, and ..
West (U.S.), Louisiana, Texas, United States, Red River (Tex.-La.), Red River of Louisiana, West (U.S.).
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This posting will establish and maintain a pool of Lecturers from which future appointments to temporary, non-tenure-track positions will be made. This posting does not necessarily reflect a current, open position. Appointments will be part-time (less than 50% FTE) and will be made semester-by-semester, as teaching needs arise. This temporary Lecturer pool is anticipated to remain continuously active through January 2019, at which point all applications will be cleared from the pool. Applicants will be welcome to apply to future pools after that date.
The Business School at the University of Colorado Denver (CU Denver) is seeking a pool of Lecturers in Management from which future appointments to temporary, non-tenure-track positions will be made. Appointments will be part-time (less than 50% FTE) and will be made semester-by-semester as needed.
Lecturers selected from this pool will teach classes in the Business School at the University of Colorado Denver. Classes taught will generally be limited to three credit hours. These may include lectures in-class or possibly, online. Compensation will range from $4,770 to $5,200 depending upon course level.
CU Denver is committed to recruiting and supporting a diverse student body, faculty and administrative staff. The University strives to promote a culture of inclusiveness, respect, communication and understanding. CU Denver's diversity is enriched by its commitment to a philosophy of inclusion, embedded in all aspects of campus life from its community members, curriculum, research and community service, allowing for the creation of a learning environment that welcomes, embraces, sustains and celebrates the unique and shared experiences of faculty, staff and students.
Master's or higher degree in Management, one of the management sub-disciplines, e.g., organizational behavior, organization theory, business strategy, etc.,or closely related field, e.g., organizational communication, I/O psychology, sociology, etc. Recent significant professional, technical, or managerial experience in the discipline related to the teaching assignment; at a minimum, significant experience is interpreted as at least five years of duties and responsibilities.
Prior experience teaching Management-discipline courses.


Home Games China Has Made The Decision to Block Twitch Services.
China Has Made The Decision to Block Twitch Services.
Twitch has been denied access to their Audience within China and Vice Versa.
Twitch is World known for it's incredibly effective Streaming Services. Able to connect Gamers from all around the world together. However it seemed to have a bit of a shock when China stopped supporting their services.
Twitch saw a surge in viewers from China this past month, but now the Amazon-owned streaming service has been banned for users inside the nation's borders.
As reported over on Abacus News, the initial disappearance came earlier this week when users started to report the app was no longer available to download on smartphones.
Twitch later confirmed this was owing to the company's streaming service being banned in China, though no further explanation as to why was offered.
Don't worry – if you're from any other part of the world other than China then your connection to Twitch will remain safe and secure. Happy Gaming Everyone.


Kenneth Turan reviews 'Saving Banksy'. Video by Jason H. Neubert.
The road to hell, the saying goes, is paved with the best of intentions, and that is very much the case with the complex art world conundrum explored in the lively, involving documentary "Saving Banksy."
At first glance, Banksy would seem to be the last person who would need any kind of saving. The biggest name in the street-art universe, blessed with an instantly recognizable style and a savage wit, Banksy is a law unto himself. He even found time to direct "Exit Through the Gift Shop," a marvelous documentary about what he does.
But Banksy, like other celebrated street impresarios, did in fact need to be saved from a whole list of potential enemies, including jealous fellow artists, uncomprehending local governments, profit-taking galleries and more. And sometimes, as this documentary directed by Colin Day points out, the people who love him the most need to be protected from themselves.
This particular story begins in April 2010, when Banksy flew to San Francisco from his native Britain and put up a number of pieces all over the city, from the Mission to Chinatown to North Beach and the South of Market area.
But no sooner did these artworks go up than they were sabotaged, either by taggers who put their own work on top of Banksy's or by vigilant city officials, who considered them illegal vandalism and threatened property owners with hefty fines if they did not immediately paint them over.
Though Banksy is not interviewed here, several of his fellow street practitioners like Risk, Revok and Blek Le Rat are, and they uniformly feel that the risk of defacement or destruction is part of the deal when you work the way they do.
Because they adamantly feel that what's made on the street should stay on the street, these artists are aghast at a recent trend of entrepreneurial gallery owners buying the walls the artwork is on, removing the piece and selling it for large sums of money the artist does not share in.
Enter San Francisco collector Brian Greif, the man with the good intentions. Aghast at both the destruction of Banksy's art as well as the profiteering galleries, Greif decided to buy a Banksy from a building owner and donate it to a museum so that the public could have access to it.
The piece of art he decided to purchase, familiarly known as the Haight Street Rat because of its location on the side of a building in the Haight-Ashbury district, was a classic Banksy (rats are one of his signature images) but nothing about Greif's public-spirited idea proved easy.
As related by both Greif and Ben Eine, a fellow street artist and friend of Banksy's who functions as an acerbic on-camera commentator, things got complicated almost from the start.
For one thing, negotiating an acceptable price with the owner of the building was a cumbersome process that lasted nearly two months. And getting the work off the structure was, as we see, expensive and time consuming, with the deconstructed Banksy ending up wrapped in blankets in Greif's closet.
Then came surreal conversations with curators from the San Francisco Museum of Modern Art who were quite nervous about the whole business, wanting, as one observer noted, "to attach strings to a no-strings offer."
Enter Stephan Keszler, a dealer who specializes, much to the artists' displeasure, in selling street art in galleries and who comes to Grief with private offers that go as high as $700,000. Frustrating as the whole situation is for him, the owner never waivers in his determination to find a public home for the piece. In the midst of all the madness it's heartening to note, as Eine does, "for once greed didn't win."


HCM City (VNA) - Children's hospitals in Ho Chi Minh City are getting a large number of patients with respiratory ailments and diarrhoea due to an ongoing hot spell in the southern region with temperatures rising up to 37 degrees Celsius.
In the last few days, the HCM City Children's Hospital No 1 has received 6,000-8,000 patients daily, two-thirds of them with the two ailments, according to its general planning department.
Tran Anh Tuan, head of its respiratory department, said the number of in-patients with respiratory problems has risen by 30 percent.
Hoang Le Phuc, head of the digestion department, said in the last three weeks, the number of patients with digestive disorders has also increased by 10 percent.
Some 16-17 have been hospitalised every week compared to 12 in the previous weeks, he said.
Children's Hospital No 2 reported an increase of 1,000 patients daily to 6,000-7,000. Around 190-200 children are treated for respiratory problems compared to 150 normally.
The hot weather could lower children's immunity to common illnesses due to perspiration and lack of water and electrolytes, Tuan said.
The sudden change in temperature between air-conditioned rooms and outside also make children vulnerable to illnesses, he said.
The number of older patients with respiratory diseases, high blood pressure, and cardiovascular and other chronic diseases has also increased due to the abnormally hot weather.
Thong Nhat Hospital in HCM City reported an increase in the number of such patients this month. Those with respiratory diseases and musculoskeletal disorders have risen by 10 percent.
People's Hospital 115 also reported a jump of 10 percent in the number of patients from the average 3,500-4,000 a day.
Nguyen Dinh Phu, deputy director of the hospital, said most come with high blood pressure, asthma and cardiovascular and digestive disorders.
The University Medical Centre in HCM City receives an average of more than 5,000 patients daily.
The number of patients rose by 10 percent from before the hot spell and 6 percent from the same period last year, Au Thanh Tung, head of the hospital's examination department, said.


There has been a sustained argument across the 'net and in traditional circles, that privacy is being redefined before our very eyes. Oftentimes, we see how a word transforms by studying its etymology – this is helpful in understanding the basis of the words that we utter. What do we do, however, when we work to redefine not just a word's definition (such as what the term 'cool' refers to) but its normative horizons?
In redefining the work 'privacy' to account for how people are empirically protecting their privacy, are we redefining the word, or the normative horizon that it captures? Moreover, can we genuinely assume that the term's normative guide is changing simply because of recent rapid changes in technology increase the difficulty in exercising our right to privacy in digitized environments? To argue that these normative boundaries are shifting largely because of how digital networks have been programmed presupposes that the networks cannot be designed in any other way, that digital content will flow as it does now the same way that gravity acts on our physical bodies as it presently does. The difficulty in maintaining such an analogy is that it assumes that there are natural laws to an immanent programming languages that structure how we can participate in digital environments.
While researchers typically focus on teens and their willingness to disclose damn near anything about themselves in the course of their daily online actions, those same researchers don't seem to be factoring in the number of MSN, AIM, MySpace, Facebook, et cetera blocks that individuals establish to prevent specific others from knowing about them. In 'traditional' environments (i.e. those that humans have been living in for centuries) avoiding someone was one way of asserting a right to privacy insofar as it asserts a right to seclusion from specific others. Individuals have signed up in droves to different 'Don't Call' phone lists, they have call display to filter who they are talking to, and they get annoyed when filling out census data because they don't think the government needs to know so much about them. All of these empirical situations indicate that people are desperately concerned with their personal privacy, but they are neither aware of the present violations in digital spaces nor how to stem them.
It's interesting that market proponents are jumping into the fray, using the above empirical facts to attract venture capital and roll out programs to limit the publicity of individuals' digital profiles. This indicates that the market seems to think that individuals are likely interested in their privacy, and that there is the hope that the will put their money where their principles are. I think (having done no statistical research on the matter, so take it for what you will) that a central reason that citizens have been hesitant to use these services to protect digital privacy has been a distrust of the companies' abilities to suppress digital information. It's not an unfounded belief, but a reasonably hesitancy that has limited their willingness to use market means to mitigate privacy invasions – it's not that consumers (note the shift from citizen–> consumer in the market solution) aren't willing to pay to protect their right, but that they're acting as moderately rational economic actors – you don't buy something if the expected benefits are less than the cost of the product.
As it becomes more and more evident that personal privacy violations are happening each day, I think that the solution will be regulation and legislation, rather than corporate privacy fiats and market-based solutions, but ultimately whether or not we let an easily temporary empirical shift in privacy redefine it's normative horizons will only be seen in a couple decades, when real etymology can be performed on transitive meaning of 'privacy'.


text:
Trump Does Dick Nixon; Phoebe Thinks ChainLink
Copyright, Frank Gerardi, 2017
I GUESS the only thing not surprising about Trump dumping FBI chief James Comey is that Cat slept through the whole thing.
I got the word the usual way: second-hand.
The Nice One called out from the kitchen late yesterday afternoon: "Comey's been fired!" That set off the Grouchy One, who stomped around the house, yelling and jumping up and down, speaking in tongues the way he does when Trump News turns bad.
This going bonkers at the TV, at the newspaper, at the computer, at the smart phone whenever Trump does his latest horrible thing is quite scary for sweet, sensitive dogs.
Still, despite all the Human racket, I managed to get the drift from NPR, which was pouring out of the living room speakers.
Fear shot through me like an electrical pulse; it had me shaking, if I'm honest, which I try to be, unlike the First Liar.
Start messing around with the justice system, as Trump is doing, and I can see all of us writers behind bars, behind the chain link.
Comey had been ramping up the investigation into whether Trump and his fiends had worked with the Russians to screw up the election and maybe worse.
 So Trump did what Putin would do: got rid of Comey.
I WAS ABLE to give Cat a full briefing when he finally came thumping down the stairs from his dayside sleep chamber in the upstairs guest room.
By the way, that metaphoric drivel about how the fog quietly comes in "on little cat feet?" Doesn't apply to Cat.
When that big boy comes down the stairs at our house here in Newport, R.I., the people who monitor seismic instruments that sense volcanic activity in Hawaii, earthquakes in California and mushroom clouds in North Korea, well, they suddenly get a lot of false positives
I'm sorry to report to you that Cat was his infuriatingly blasé self; he just didn't see what the fuss was about.
"Phoebe, you'll get your 'Red' meat soon enough," Cat purred. "The investigations will continue.
"And I would think you'd love Trump's knee-slapper reason for getting rid of Comey: that he went off the tracks last year by messing up the campaign with all that public talk about the on-and-off Hillary e-mail investigations.
"And Sherlock Jim didn't do himself any favors telling a Senate committee that he'd exaggerated the number of 'confidential' e-mails that ended up in Weiner-Man's computer, so his that underlings had to issue 'clarifications' yesterday."
"Cat, how did you know about that correction business?" I said.
 Sometimes I think Cat plays dumb just so that he won't talk about politics with me, but that he actually listens to NPR in his sleep – if he really is sleeping the day away.
"Why do you always go bonkers when there's a bit of news, Kid?" he asked with that Senior Animal tone he uses. "What makes you think that simply replacing one FBI director with another FBI director is the End of the World as We Know It?"
"SOMETIMES, things are just as simple as they seem, Cat," I said. "Here are three tests to measure the horror of what Trump just did:
"One, it's just what Nixon did – try to shut down an investigation. Pay attention to history, Cat: We've been there; done that.
"Two, Trump won't release his tax returns. So we already know he has lots to hide.
"Third, when I first heard the news, a horrible, sickening shockwave shot through my whole body. Made my tail curl."
"Your tail is naturally curly," Cat said..
"And you know what I mean: trust your instincts," I said.
What I didn't tell Cat is that, tonight, I'm still shaking. So much so that I really couldn't tell you how I was able to even write this.
I keep thinking: What if it goes all wrong, like it does in other countries? What if they come after us, the Sweet Dogs?
What's jail like?
This Comey thing is taking on a familiar pattern. Initial shock and awe. Democrats go to Defcon 1. Republicans do their enabling thing. Trump voters give him the usual Free Pass. Life goes back to what passes for normal.
Do we put a stop to it?


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Alaris Royalty Corp. Releases Q2 2020 Financial Results
/NOT FOR DISTRIBUTION IN THE UNITED STATES.
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./
TSX-AD
CALGARY, AB, July 28, 2020 /CNW/ - Alaris Royalty Corp. ("Alaris" or the "Corporation") is pleased to announce its results for the three and six months ended June 30, 2020. The results are prepared under International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").
The Corporation is proud of the ability of all of its seventeen Partners to withstand the economic impacts from the pandemic and to be well prepared throughout. As previously disclosed, second quarter revenue and cash flows were negatively impacted by the novel coronavirus disease 2019 ("COVID-19") as certain Partners, as defined below, required a deferral of distributions to help navigate through temporary closures. The direct impact of COVID-19 to the financial statements for the three-month period ended June 30, 2020 was a deferral of $5.8 million of distributions from Body Contours Centers, LLC ("BCC") and PF Growth Partners ("PFGP"), or 22% of the total expected revenue for that period. Also in the second quarter, there was a net aggregate increase in the fair value of the Partners of $8.4 million, resulting in a book value per share for the Corporation of $15.44 at June 30, 2020.
Q2 2020 Highlights:
Generated revenue of $20.2 million in the quarter, a 24% decline on a per share basis compared to the prior year period as a result of the deferral of all the second quarter distributions from BCC and PFGP:
The Corporation is pleased to report that beginning in Q3 2020, BCC will be restarting distributions as all their locations have re-opened and they have seen positive results from all key performance indicators to date.
PFGP has re-opened a majority of their locations with no clear timeline to opening the remaining 7 locations, and none that have re-opened have since been shut down. Discussions surrounding re-starting distributions will take place with PFGP and its lenders once all locations have re-opened and have returned to normal operating conditions. All deferred distributions from BCC and PFGP are expected to be collected at a future date but have not been recorded in the financial statements;
The Corporation is pleased to report a restart in distributions for Kimco Holdings, LLC ("Kimco") of US$1.2 million on an annual basis, beginning in July 2020, a result of the notable financial results as well as their outlook moving forward. Kimco has provided a number of ancillary cleaning services throughout the COVID-19 pandemic due to the heightened need for sanitization and have won a number of new clients that will generate recurring revenue into 2021;
The Corporation is also pleased to report a $0.4 million quarterly dividend on the common shares of Amur Financial Group Inc. ("Amur") after not receiving a common dividend in the first quarter of 2020;
Net increases to the fair value of Alaris' investments totalled $8.4 million for the quarter, which includes increases of: $8.1 million for Lower Mainland Steel ("LMS") based on positive results year-to-date and the expectation for another positive reset in 2021, $2.6 million for BCC as they have been able to recover from their COVID-19 shut down more quickly than originally anticipated and $2.1 million for Kimco for the reasons noted above. These were partially offset by a decrease in fair value on GWM Holdings, Inc. ("GWM") of $4.4 million as a result of an expectation of a negative reset in 2021 following the impact to 2020 results from COVID-19, although they remain one of the Corporation's strongest performing Partners with an Earnings Coverage Ratio well in excess of 2.0x;
The Corporation completed an initial investment into Carey Electric Contracting LLC ("Carey Electric") for US$17.0 million, consisting of US$16.1 million of preferred equity and a US$0.9 million investment in exchange for a minority ownership of their common equity. Alaris will initially receive US$2.4 million of preferred distributions and is expecting to receive dividends on its common equity investment on an annual basis, as Carey Electric's cash flows permit;
During June, Alaris finalized an amending agreement to its credit facility agreement with its syndicate of senior lenders that will allow for covenant flexibility throughout the next twelve to eighteen months, if required. One key amendment included that the maximum debt to contracted EBITDA covenant (the "leverage covenant") may be increased from 2.5:1, to 3.0:1 until March 30, 2021 (previously was for a period of up to 90 days), if needed (as of June 30, 2020 the Corporation's leverage covenant was 1.98x). The other key amendment is that the fixed charge coverage ratio of 1:1 may now include the Corporation's pro-forma dividends at $1.24 per share, whereas previously it was actual dividends paid in the previous twelve months, while pricing remained the same;
The Corporation announced on July 24, 2020, that its Board of Directors had unanimously approved the reorganization of the Corporation into an income trust to be named Alaris Equity Partners Income Trust ("AEP") pursuant to a plan of arrangement (the "Arrangement"). The Arrangement will be subject to shareholder approval at a special meeting of shareholders to be held on August 31, 2020. The Arrangement is the foundation of a plan to enhance shareholder value and for continued prudent growth and will help simplify the Corporation's existing cross-border investment structure;
In connection with the Arrangement, the Corporation further announced an expected increase to its annual distribution of $0.08 per trust unit (from $1.16 per share to $1.24 per trust unit on an annual basis). If the Arrangement is approved by shareholders on August 31, 2020, the next quarterly trust distribution would be declared in September 2020 and payable on or about October 15, 2020 to unitholders of record as of September 30, 2020 and is expected to be $0.31 per trust unit;
Subsequent to June 30, 2020, the Corporation entered into an agreement with a third-party supplier and Federal Resources Supply Company ("FED") to purchase Personal Protective Equipment (the "PPE Order"). The PPE Order is a part of a larger total order including the sourcing and sale of over 4.5 billion medical grade nitrile gloves which will be distributed to the U.S. Government. The capital commitment at any one time is expected to be between US$25 and US$35 million (the "PPE Funds") based on the timing of weekly cash inflows and outflows during the approximate 10-week period of the agreement. The first such advance of US$11.5 million was made on July 28, 2020. Alaris will provide the PPE Funds in exchange for a share of the margin on the products included in the PPE Order;
The Corporation paid $5.0 million of dividends during the three months ended June 30, 2020, resulting in an Actual Payout Ratio of 37.0% for the three-month period. The lower than expected Actual Payout Ratio was due to the change in timing for dividends being paid, as they are now being paid quarterly instead of monthly, with the first quarterly dividend being paid after June 30, 2020 on July 15, 2020; and
Up to the date of this release the Corporation has repurchased for cancellation 1,156,541 of its common shares at an average price of $8.69 per common share through its Normal Course Issuer Bid ("NCIB"). The share repurchases have resulted in a total annualized pre-tax savings of approximately $1.39 million or $0.04 per share, at the new dividend rate of $1.24 per share.
"With now three months of results in this unique environment, the quality of our businesses and the management teams that run them is showing through. The fair value increases in the current quarter is a reflection of Alaris' improved outlook around the expected impact that COVID-19 would have on each business. While we're not out of the woods, it has been encouraging to see that most of our businesses are providing required services and have been able to successfully operate in these unforeseen times," said Steve King, President and CEO, Alaris Royalty Corp. "Additionally, we are pleased to be supporting our partner Federal Resources in executing the largest PPE order in their history, delivering nearly five billion essential medical gloves to the U.S. Government. Part of Alaris' success in attracting best in class companies has been our speed and flexibility in dealing with unique opportunities like this one," said King.
Per Share Results
Six months ended
Period ending June 30
Normalized earnings
Normalized EBITDA
Net cash from operating activities
Dividends declared
Basic earnings
Fully diluted earnings
Weighted average basic shares (000's)
Revenue per share decreased 24.0% during the three months ended June 30, 2020 due to the deferral of distributions during the quarter from BCC and PFGP. The additional revenue in the current period from new investments in Amur, Stride Consulting LLC ("Stride") and Carey Electric, along with a follow-on investment into Unify Consulting, LLC ("Unify"), was offset by the redemptions in Sales Benchmark Index LLC ("SBI") and Sandbox Acquisitions, LLC and Sandbox Advertising LP (collectively, "Sandbox"). The revenue per share decreased by just 0.7% for the six months ended June 30, 2020 as it included additional distributions from SBI on their redemption.
For the three months ended June 30, 2020, Normalized EBITDA of $0.48 per share ($17.3 million) was a decrease of 27.3% per share compared to $0.66 per share ($24.1 million) in the prior year comparable period. For the six months ended June 30, 2020, Normalized EBITDA of $1.07 per share ($38.7 million) represented a 20.1% decrease from the prior comparable period which was $1.34 per share or $48.9 million in total. The primary reason for the decrease in both periods was the deferral of distributions from BCC and PFGP during the second quarter.
Reconciliation of Net Income to Normalized EBITDA
$ thousands
$ (39,127)
Normalizing Adjustment
Non-recurring tax expenses related to US Tax Regulations
Normalized Earnings / (Loss)
Adjustments to Net Income:
Amortization and depreciation
Income tax expense - net of non-recurring tax above
Normalizing Adjustments
Realized (gain) / loss on investment
Unrealized (gain) / loss on investments at fair value
Transaction diligence costs
Bad debt expense / (recovery)
Distributions received on redemption (SBI)
Unrealized loss on foreign exchange
Realized loss on foreign exchange
Legal and accounting fees for trust conversion
The Corporation is also announcing that Peter Grosskopf has tendered his resignation as a director of Alaris effective as of July 28, 2020 because of other business commitments, including as CEO of Sprott. Inc.
The Corporation's results in the three and six months ended June 30, 2020 were negatively affected by the COVID-19 pandemic, as revenue, cash flows from operations and Normalized EBITDA were all less than forecast during Q2 2020 and in the first quarter there was a net write-down in the fair values of investments due to anticipated reductions in future distributions from certain Partners at that time. Overall, the Partners' businesses have experienced a wide range of impact from the COVID-19 pandemic, but all continue to manage their operations and business landscapes effectively. However, due to the continued uncertainty regarding future impacts to the Partners from COVID-19, the Corporation deems it prudent to continue to withhold from providing financial guidance for the remainder of 2020. The potential for delays or issues with the recovery from COVID-19, makes it difficult to accurately project the expected distributions for the next twelve-month period but based on the current expectations from each Partner, revenue for Q3 is expected to be $22.8 million. The Corporation describes the impact COVID-19 has had on each Partner in further detail in the MD&A and continues to work with each management team to assist them through this unprecedented environment.
The senior debt facility was drawn to $176.2 million at June 30, 2020, with the capacity to draw up to another $157.7 million based on covenants and credit terms. The annual interest rate on that debt was approximately 5.9% at June 30, 2020. During the three months ended June 30, 2020, the Corporation also closed an amendment to its credit facility with its syndicate of senior lenders. The amendment will give Alaris the required flexibility on financial covenants and permitting deployment as the Corporation navigates through the next twelve to eighteen months.
The Consolidated Statement of Financial Position, Statement of Comprehensive Income, and Statement of Cash Flows are attached to this news release. Alaris' financial statements and MD&A are available on SEDAR at www.sedar.com and on our website at www.alarisroyalty.com.
Earnings Release Date and Conference Call Details
Alaris management will host a conference call at 9am MDT (11am EDT), Wednesday, July 29, 2020 to discuss the financial results for Q2 2020 and outlook for the Corporation.
Participants can access the conference call by dialing toll free 1-888-390-0546. Alternatively, to listen to this event online, please click the webcast link and follow the prompts given: Q2 Webcast. Please connect to the call or log into the webcast at least 10 minutes prior to the beginning of the event.
For those unable to participate in the conference call at the scheduled time, it will be archived for instant replay for a week. You can access the replay by dialing toll free 1-888-390-0541 and entering the passcode 814575#. The webcast will be archived and is available for replay by using the same link as above or by finding the link we'll have stored under the "Investor" section – "Presentation and Events", on our website at www.alarisroyalty.com.
Special Meeting
Alaris will be holding a special meeting of common shareholders at 11:00am MDT on Monday, August 31, 2020. Materials have been mailed to shareholders of record as of July 17, 2020 and copies are available along with the Corporation's profile on SEDAR at www.sedar.com as well as on its website under the "Investors" section. Please monitor our website at https://www.alarisroyalty.com/investors for updated information.
An updated corporate presentation will be posted to the Corporation's website within 24 hours at www.alarisroyalty.com.
Alaris provides alternative financing to private companies ("Partners") in exchange for distributions with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Distributions from the Partners are adjusted annually based on the percentage change of a "top-line" financial performance measure such as gross margin or same store sales and rank in priority to the owner's common equity position.
Non-IFRS Measures
The terms EBITDA, Normalized EBITDA, Actual Payout Ratio, Earnings Coverage Ratio, Per Share and IRR are financial measures used in this news release that are not standard measures under International Financial Reporting Standards ("IFRS"). The Corporation's method of calculating EBITDA, Normalized EBITDA, Actual Payout Ratio, Earnings Coverage Ratio, Per Share, IRR and Normalized Earnings may differ from the methods used by other issuers. Therefore, the Corporation's EBITDA, Normalized EBITDA, Actual Payout Ratio, Earnings Coverage Ratio, Per Share and IRR may not be comparable to similar measures presented by other issuers.
Actual Payout Ratio refers to Alaris' total cash dividends paid during the period (annually or quarterly) divided by the actual net cash from operating activities Alaris generated for the period.
EBITDA refers to earnings determined in accordance with IFRS, before depreciation and amortization, net of gain or loss on disposal of capital assets, interest expense and income tax expense. EBITDA is used by management and many investors to determine the ability of an issuer to generate cash from operations. Management believes EBITDA is a useful supplemental measure from which to determine the Corporation's ability to generate cash available for debt service, working capital, capital expenditures, income taxes and dividends.
Normalized EBITDA refers to EBITDA excluding items that are non-recurring in nature and is calculated by adjusting for non-recurring expenses and gains to EBITDA. Management deems non-recurring items to be unusual and/or infrequent items that the Corporation incurs outside of its common day-to-day operations. For the six months ended June 30, 2020, these include the distributions received upon redemption of SBI and in the three and six months ended June 30, 2020 the non-recurring legal expenses related to the income trust conversion. For the three and six months ended June 30, 2019, these include a bad debt recovery related to Phoenix. Transaction diligence costs are recurring but are considered an investing activity. Foreign exchange realized and unrealized gains and losses are recurring but not considered part of operating results and excluded from normalized EBITDA on an ongoing basis. Changes in investments at fair value are non-cash and although recurring are also removed from normalized EBITDA. Adjusting for these non-recurring items allows management to assess cash flow from ongoing operations.
Earnings Coverage Ratio refers to the Normalized EBITDA of a Partner divided by such Partner's sum of debt servicing (interest and principal), unfunded capital expenditures and distributions to Alaris. Management believes the earnings coverage ratio is a useful metric in assessing our partners continued ability to make their contracted distributions.
Per Share values, other than earnings per share, refer to the related financial statement caption as defined under IFRS or related term as defined herein, divided by the weighted average basic shares outstanding for the period.
IRR refers to internal rate of return, which is a metric used to determine the discount rate that derives a net present value of cash flows to zero. Management uses IRR to analyze partner returns.
Normalized Earnings refers to Earnings excluding non-recurring tax expenses related to newly enacted US Tax regulations that were applied retrospectively to January 1, 2019.
The terms EBITDA, Normalized EBITDA, Actual Payout Ratio, Earnings Coverage Ratio, Per Share and IRR should only be used in conjunction with the Corporation's annual audited financial statements, excerpts of which are available below, while complete versions are available on SEDAR at www.sedar.com.
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") under applicable securities laws, including any applicable "safe harbor" provisions. Statements other than statements of historical fact contained in this news release are forward–looking statements, including, without limitation, management's expectations, intentions and beliefs concerning the growth, results of operations, performance of the Corporation and the Private Company Partners, the future financial position or results of the Corporation, business strategy and plans and objectives of or involving the Corporation or the Partners. Many of these statements can be identified by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof. In particular, this news release contains forward–looking statements regarding: the anticipated financial and operating performance of the Corporation's Partners; the impact of COVID-19 on the operations of the Corporation and those of its Partners; expected amendments to the Corporation's senior credit agreement and the impact thereof; the amount of the Corporation's dividend (both quarterly and on an annualized basis); the use of proceeds from the Corporation's senior credit facility; the Corporation's ability to deploy capital; impact of capital deployment; and the impact of the reduction in the Corporation's dividend. To the extent any forward-looking statements herein constitute a financial outlook, including estimates regarding revenues, distributions from Partners (including expected resets), expenses and impact of capital deployment, they were approved by management as of the date hereof and have been included to provide an understanding with respect to Alaris' financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.
By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect Alaris' business and that of its Partners (including, without limitation, the ongoing impact of COVID-19) are material factors considered by Alaris management when setting the outlook for Alaris. Key assumptions include, but are not limited to, assumptions that: the Canadian and U.S. economies will begin to recover from the ongoing economic downturn created by the response to COVID-19 within the next twelve months, interest rates will not rise in a material way over the next 12 to 24 months, that those Alaris Partners detrimentally affected by COVID-19 will recover from the pandemic's impact and return to their current operating environments, following a recovery from the COVID-19 impact, the businesses of the majority of our Partners will continue to grow, more private companies will require access to alternative sources of capital and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms. Management of Alaris has also assumed that the Canadian and U.S. dollar trading pair will remain in a range of approximately plus or minus 15% of the current rate over the next 6 months. In determining expectations for economic growth, management of Alaris primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies as well as prevailing economic conditions at the time of such determinations.
There can be no assurance that the assumptions, plans, intentions or expectations upon which these forward–looking statements are based will occur. Forward–looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Corporation and the Partners could materially differ from those anticipated in the forward–looking statements contained herein as a result of certain risk factors, including, but not limited to, the following: the ongoing impact of the COVID-19 pandemic on the Corporation and its Partners (including how many Partners will experience a slowdown or closure of their business and the length of time of such slowdown or closure); management's ability to assess and mitigate the impacts of COVID-19; the dependence of Alaris on the Partners; leverage and restrictive covenants under credit facilities; reliance on key personnel; general economic conditions, including the ongoing impact of COVID-19 on the Canadian, U.S. and global economies; failure to complete or realize the anticipated benefit of Alaris' financing arrangements with the Partners; a failure to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions or redeem proceeds from any redemptions in a timely fashion on anticipated terms, or at all; a change in the ability of the Partners to continue to pay Alaris at expected distribution levels or restart distributions (in full or in part); a failure to collect material deferred distributions; a change in the unaudited information provided to the Corporation; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading "Risk Factors" and "Forward Looking Statements" in the Corporation's Management Discussion and Analysis for the year ended December 31, 2019, which is filed under the Corporation's profile at www.sedar.com and on its website at www.alarisroyalty.com. Accordingly, readers are cautioned not to place undue reliance on any forward-looking information contained in this news release. Statements containing forward–looking information reflect management's current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the expectations represented in such forward–looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Condensed consolidated statements of financial position (unaudited)
30-Jun
Derivative contracts
Trade and other receivables
Income taxes receivable
Investment tax credit receivable
Assets acquired held for sale
Promissory notes receivable
Promissory notes and other receivables
Liabilities acquired held for sale
Office Lease
Income tax payable
Loans and borrowings
Convertible debenture
Equity component of convertible debenture
Equity reserve
Translation reserve
Retained earnings / (deficit)
Condensed consolidated statements of comprehensive income / (loss) (unaudited)
$ thousands except per share amounts
Revenues, net of realized foreign exchange gain or loss
Net realized gain from investments
Net unrealized gain / (loss) of investments at fair value
Total revenue and other operating income / (loss)
Earnings / (loss) from operations
Unrealized (gain) / loss on foreign exchange
Earnings / (loss) before taxes
Deferred income tax expense / (recovery)
Total income tax expense
Earnings / (loss)
Other comprehensive income / (loss)
Foreign currency translation differences
Total comprehensive income / (loss)
Earnings / (loss) per share
Fully diluted
Weighted average shares outstanding
Condensed consolidated statements of cash flows (unaudited)
Six months ended June 30
Cash flows from operating activities
Earnings / (loss) for the period
Adjustments for:
Net unrealized (gain) / loss of investments at fair value
Change in:
- trade and other receivables
- income tax receivable / payable
- prepayments
- accounts payable, accrued liabilities
Cash generated from operating activities
Cash interest paid
Cash flows from investing activities
Acquisition of investments
Proceeds from partner redemptions
Proceeds on disposal of assets and liabilities held for sale
Promissory notes issued
Promissory notes repaid
Net cash from / (used in) investing activities
Cash flows from financing activities
Repayment of loans and borrowings
$ (160,102)
Proceeds from loans and borrowings
Proceeds from convertible debenture, net of fees
Common share repurchases
Office lease payments
Net cash from / (used in) financing activities
Net increase / (decrease) in cash and cash equivalents
Impact of foreign exchange on cash balances
Cash taxes paid / (received)
$ (402)
SOURCE Alaris Royalty Corp.


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