text:
Riyadh International Airport Terminal 5 work to be completed by the end of 2015
Download: Printable PDF Date: 07 Sep 2015 04:30 category:
Source: Centreforaviation
06-Sep-2015 His Excellency Mr. Sulaiman Bin Abdullah Al-Hamdan, President of the General Authority of Civil Aviation (GACA), visited the new Terminal 5 in King Khaled International Airport (KKIA) in Riyadh to inspect the work in progress and the achievements made to date.
His Excellency was accompanied by Mr. Yousef Bin Ibrahim Al-Abdan, Director of KKIA, Mr. Basem Bin Abdullah Al-Sallom, Marketing General Manager in GACA, and Eng. Abdulelah Bin Hamad Al-Fozan, project supervisor from GACA's projects sector.
The Terminal 5 project was implemented to transfer passenger traffic from Terminal 3 to Terminal 5 during the period of the expansion and development of Terminals 3 and 4. The new terminal will contribute to the expected growing number of passengers once all the other terminals are completed. Terminal 5 is expected to be completed by the end of 2015 and after that testing for operational readiness; activation and transition (ORAT) will begin.
Commenting on his visit, His Excellency said: "We thank Allah for the many achievements made in this project, having completed 65% of the overall work. The project is made to realize the vision of the government and also it is part of GACA's strategies to develop the aviation sector in the kingdom. This will enable us to provide advanced services for travelers at King Khaled International Airport in Riyadh where we expect significant growth in the number of travelers. In addition, we are developing other terminals in the airport since KKIA is one of the main points of entry into the kingdom".
Terminal 5 is expected to be ready by the end of 2015 in accordance with the 30 months duration of the contract, which was awarded to the consortium of Turkish TAV and Saudi Al-Arab Company in 11 July 2013. A Saudi consultant was hired to be supervisory consultant to the project.
The overall size of Terminal 5 is 100,000 sqm to allow for passengers on 8 jumbo airplanes or 16 medium size airplanes. The terminal's annual capacity is 12 million passengers a year. It has 60 counters for luggage check-in; 20 self-service counters; five new luggage belts with a total length of 415 meters; 30 elevators; 19 escalators; and 6 electronic moving walks. The first and business class halls cover an area of 2,138 sqm.
Loading comments for Riyadh International Airport Terminal 5 work to be completed by the end of 2015...
Special Davos event support by Dassault Aviation
Dassault Aviation elite team of service specialists, equipment and rapid response aircraft will be positionned at airports near Davos the week of January 20th. Dassault Aviation makes globa...
A diverse new decade of charter business is coming
We often have an opportunity to discuss the future development of business aviation industry with TOP executives. What is changing, how it will impact the industry, what trends are to be expected?&nbs...
40 additional A321neo aircraft for CALC
China Aircraft Leasing Group Holdings Limited, a full value-chain aircraft solutions provider for global airlines, has reached an agreement with Airbus on its remaining backlog, and includes an additi...


text:
Education minister, premier, teachers condemn anti-vaccine protesters at Montreal school
Published Thursday, September 9, 2021 8:59PM EDT Last Updated Friday, September 10, 2021 2:53PM EDT
MONTREAL -- Quebec's education minister has condemned anti-vaccine protesters who allegedly harassed students at a Montreal school that was running a vaccination clinic and claimed the vaccine was linked to the recent death of a student.
Minister Jean-François Roberge said on Twitter he was shocked by the actions of the protesters "who have used the tragic death of a young girl to fuel disinformation."
"It is an irresponsible gesture and I offer my condolences to the relatives of the victim and to the school staff."
Je suis scandalisé par ces manifestants qui ont instrumentalisé le décès tragique d'une jeune fille pour alimenter la désinformation. C'est un geste irresponsable et j'offre toutes mes condoléances aux proches de la victime et au personnel scolaire. https://t.co/5S8ouP0aBC
— Jean-F. Roberge (@jfrobergeQc) September 9, 2021
In a statement provided to CTV News, the regional health authority for the East Island of Montreal said their vaccination staff members were at the school on Wednesday to hand out shots to eligible students, which was one day after the student's tragic death.
"During this vaccination activity, 177 doses were administered and no incidents were brought to our attention," wrote CIUSSS de l'Est-de-l'Île-de-Montréal spokesperson Catherine Dion.
Montreal police confirmed they responded to a 911 call at the school on Tuesday and that a "young girl was sent to hospital." The cause of the student's death was not publicly released.
Police spokesperson Jessica Lalonde said police were at the school the next day and that a group of adults were engaging with students "in a public space next to the school" but there was no criminal activity involved.
The protesters claimed that the student's death happened after the in-school immunization, according to a report by La Presse, which first reported the incident.
A teacher at the school, Xavier Watson, posted a video on his Facebook page of him telling a protester to not talk to his students.
"An anti-vaxxer and his gang came to protest at my school today as we mourn the tragic death of a student!" Watson wrote on Facebook. "This is f**ked, these people are disgusting!"
Premier Francois Legault was asked about the protest Friday, and his response was pointed.
"It's unacceptable to see the anti-vax (movement) getting our children involved in their fight," said Legault. "Please, get our children out of this debate please.
He added that he has asked Public Security Minister Genevieve Guilbault to ensure police are investigating the matter thoroughly.
Ecole Secondaire Louis Riel. (Cosmo Santamaria/CTV News)

redpajama_set_name: RedPajamaCommonCrawl


old source in the new one.
In others files, I use the reference.
When I generate my PDF, the links are not made.
Description: Error: no ID for constraint linkend: anID.
The old xref (without the role tags) works perfectly.
How can I resolve this issue ?


NEW DELHI, (Reuters) - India has shelved a plan to sell a 76 percent stake in state-owned carrier Air India due to lack of interest from bidders, a government official said on Wednesday, marking the latest setback in its ambitious efforts to rescue the ailing airline.
Air India is now reviewing its funding needs and weighing ways to remain competitive, Junior Civil Aviation Minister Jayant Sinha told reporters at a briefing, adding the government is still committed to privatizing the airline.
The decision to pull the plug on the plan came after India last month failed to attract buyers for the government's stake in the debt-laden carrier, in a blow to Prime Minister Narendra Modi's credentials as a reformer willing to step away from running money-losing businesses.
"We ran a disinvestment process where we made it very clear what type of bid we were interested in receiving. Nobody expressed any interest ... that process right now is over so we have to move forward and consider other alternatives," he said.
The government will continue to support the loss-making airline's financial requirements while it works on alternatives, Sinha said, without giving a specific timeline for a new plan.
The sale was also key to Modi's plans to help keep the fiscal deficit at 3.3 percent of GDP, a goal already under pressure from giveaways to farmers and other welfare benefits ahead of the 2019 national elections.
While the government says it has been forced to review the plan also because of high oil prices, a weaker rupee and rising interest rates, potential bidders found some of the stake sale terms too onerous, making it a non-starter.
Delays could exacerbate the carrier's financial woes and hurt the government's efforts to cut debt, analysts said, adding the focus should now be on improving Air India's operations so it does not lose more money or market share.
"The government would look to improve the operational efficiency of the airline so that it becomes attractive for private investors to come in," said Teresa John, economist at Nirmal Bang Institutional Equities.
"I don't see the Air India stake sale happening before 2019 elections unless the scenario changes, especially with airlines already under pressure on rising cost," she said.
Air India, which employs some 27,000 staff, said this month it was seeking a short-term loan of 10 billion rupees ($148 million) so it can continue day-to-day operations.
The carrier had debt worth 487.81 million rupees ($7.16 billion) as of March 31, 2017.
Analysts say while a new plan is being worked on, the government should consider selling some of Air India's non-core assets to fund its working capital needs.
Air India has six subsidiaries – three of which are loss-making – with assets worth about $4.6 billion. It also has an estimated $1.24 billion worth of real estate, including two hotels.
The national carrier, operates domestic and international flights, runs a low-cost airline and also has a ground-handling business. Under the terms, bids were invited for all three.
"Air India is a classic case where the sum of parts is more valuable than the whole entity. Individual suitors are interested in different parts of Air India and they should go for a part sale," an industry source said.
The decision to suspend the sale is a highly disappointing reversal of the government's earlier commitment to privatizing the national carrier, consultancy CAPA India said in a note.
"Under continued government ownership, with no clear roadmap, Air India is likely to see its domestic and international market shares decline over time to a point where the carrier is no longer relevant," it said.
Air India has been losing domestic market share to rapidly expanding lower-cost operators like InterGlobe Aviation Ltd's (INGL.NS) IndiGo and SpiceJet Ltd (SPJT.BO) that are now looking to expand their international routes as well.
CAPA India estimated the carrier would make losses of $1.5 billion to $2 billion over the next two years alone, adding it represented an unnecessary drain on taxpayer funds.
"There will be need for incremental funds but it is not clear if that will come from the government or external borrowing from banks," said the industry source, adding that the airline would most likely have to take on more debt.


Banks are involved in many business lines that have varying competitive pressures and requirements for success. They are increasingly evaluating each line to determine whether it makes the most of the bank's strengths and is consistent with its strategic plans. As management considers these evaluations, it may decide to stop activities that are not profitable or that are too high-risk for its appetite in order to concentrate on activities that may be more profitable, that it and the bank may be better-suited for, or that are lower-risk. These types of evaluations have led to the development of many variants of the credit card lending model, one of which is a Rent-a-Bank Identification Number (BIN) arrangement. This chapter describes Rent-a-BIN (RAB) models and structures, highlights the risks of issuing RAB arrangements, and discusses risk-mitigating controls that management typically employs. Later sections of the chapter consider topics such as capital and accounting.
With a RAB arrangement, a bank allows one or more other entities to conduct credit card activities with or through one of the bank's BINs8, which is a number assigned by an Association to identify the bank for authorization, clearing, settlement, card issuing, or other processes. In return for allowing the use of its BIN, the bank receives a "rental" fee from that entity, hence the term Rent-a-BIN.
There are essentially two types of RAB arrangements: a credit card issuing RAB and an acquiring RAB. Each has a unique set of risks but both require the bank to have strong vendor-oversight programs. Acquiring RABs, which draw their names from the arrangement's feature of acquiring merchant contracts and cardholder transactions, are addressed in the Merchant Processing chapter, and issuing RABs, which draw their names from the arrangement's feature of issuing credit cards to consumers, are the focus of this chapter.
There are several common features among issuing RABs. In an issuing RAB arrangement a bank (as BIN owner) rents its right to offer credit cards that have the applicable Association's logo to a third party for a fee. The third party generally solicits prospective credit card customers and then provides approved applicants with a credit card. The bank is identified as the issuer of the card while the BIN-renter, or partner, and other sub-contracted participants may not necessarily be apparent to the cardholder. The bank retains its contract with the Association(s) because the Associations only allow insured depository institutions to issue credit cards under their brands. While the bank sheds itself of a majority of the day-to-day operational duties associated with operating the program in most cases, it always retains ultimate responsibility for the program based on its contract with the applicable Association and on it being the issuer of record.
Issuing RABs also have several aspects that vary from arrangement to arrangement. For example, the receivables are usually held by the BIN-renter (partner) or another party. In a few cases the bank might hold a small portion of the receivables or even a majority or all of the receivables. Securitization of the program's receivables (by whichever party has funded those receivables) may or may not be present. In most cases, the partner is unaffiliated with the bank. However, the partner may be an affiliate of the bank or a related interest of an insider of the bank, requiring an additional layer of review. Furthermore, some banks have arrangements with more than one partner for different credit card programs/BINs. Portfolio services such as collections, customer service, and processing, can be performed by the partner or by other third-parties (which, again, may or may not be affiliated with the bank). The bank could even perform select services or processes. In most cases the bank is an issuer only, but it is plausible that it could be both issuing and acquiring, which could complicate matters (refer to the Merchant Processing chapter for information on the acquiring business).
A bank might enter into an issuing RAB to reduce or to limit the level of receivables held on its balance sheet (thus reducing or limiting on-book credit risk) and/or to reduce or limit the operating burden on internal resources while still generating income from credit card activities. While issuing RAB arrangements can be effective means of meeting these goals, they pose a number of risks to the bank, and those risks can be substantial. Problems commonly arise when management is overly focused on apparent returns or cost savings or when it lacks sufficient knowledge about the risks involved with the card products offered, RAB activities, and/or third-party oversight.
A primary concern with RAB arrangements is that the bank may not have sufficient controls over the partner's (or the partner's agent's) actions, particularly solicitation, underwriting, and administration of the credit card relationships. The quality of services provided by the hundreds of third-parties in credit card and related industries, as well as their wherewithal to support the activities, varies widely. If the partner or its agents fail to abide by applicable laws, guidance, and regulations, or if the partner experiences financial difficulties, the bank could be exposed to operation and reputation risks that may result in fines or other monetary losses, funding or liquidity risks if the partner or other receivable-holders are not able to provide funding for new charges that they have committed to fund, and credit risk if the bank must fund the cardholder charges and retain the receivables on its balance sheet. Credit risk, whether from receivables voluntarily retained or that the bank is forced to retain, could be substantial if the bank has not had proper control over the partner's underwriting criteria and the partner solicited and accepted customers with riskier profiles than what the bank would normally accept.
For purposes of this chapter, a simple structure will be used: the bank will be an issuer (and not an acquirer) and will generally be assumed to be contracting with one partner, and that partner will hold all card receivables as well as perform all servicing and processing for the portfolio. However, examiners should keep in mind that a bank may have more than one partner, that the partner might have relationships with more than one bank, that the bank may or may not retain the receivables, and that servicing may be performed by the partner, the bank, or another third-party. Examiners will need to review governing documents for issuing RAB arrangements (normally for those that are material or new) to ascertain the parties involved, the extent of each party's responsibilities, and how and to what degree failure of each party to meet its obligations may impact the bank, whether directly or indirectly. Examiners should also look for evidence identifying whether management has properly addressed the risks from each RAB arrangement.
Management sometimes assumes that it does not have to carefully monitor the card portfolio, namely when the bank does not hold the receivables. However, in an issuing RAB arrangement, the bank is responsible for the program and its customer relationships regardless of where the receivables reside. Further, the performance of the accounts can substantially impact the risks to the bank. Another misconception is that if a contract is in place between the bank and the partner, the bank is sufficiently protected. Contracts, a necessary component of a successful RAB operation, may not always be iron-clad. For example, the partner's indemnification contribution is only as strong as its financial wherewithal. Further, in some situations the bank might step in and relieve the partner from some of its responsibilities under the contract, thus tainting the contract. As another example, even though the contract might call for the partner to reimburse fines, it is up to the bank to seek that reimbursement and it might elect not do so, perhaps to keep the third party viable or to avoid disruptions to the program. That is not to say that a partner could not also provide services or financial support beyond contract specifications.
Even though the bank might not be directly involved in solicitation, underwriting, and administration processes under the issuing RAB arrangement, it is still the legal owner of the card accounts and relationships. As the BIN-licensee, the bank is responsible to the Association(s) for transactions processed and/or cards issued with its BINs, and, thus, program oversight. Even though contracts between the bank and the partner might direct the partner to assume these and other responsibilities, regulatory agencies and, most likely, the Associations regard the bank as ultimately responsible for the program. Typically the Associations have nominal direct contact with the bank's third parties. Rather, the bank is responsible for managing the third-party relationships, ensuring the third party meets established standards, and looking to the partner for reimbursement or other support provided for in the contract between the bank and the partner. The Association(s) may look to the third party if the bank is unable to meet its obligations.
Rigorous and thorough oversight of issuing RAB arrangements is warranted for management to ensure the risks are appropriately controlled. Issuing RAB relationships should generally be subject to risk management, consumer protection, and other policies and practices consistent with those that would be used if the bank was issuing the cards directly. The assessment of controls, safeguards, and practices for RAB activities is factored into the Management component rating (and other component ratings as applicable).
Issuing RABs can be profitable ventures but do entail risks which, if not properly controlled, can quickly erode profitability and/or cause many other problems, some of which could be critical, for the bank. Because the bank does not usually hold the preponderance of the receivables and because third parties are typically conducting most of the portfolio services, the risks may not appear as straightforward as they are with a conventional credit card lending model. The frequency and level of each risk to a RAB bank is influenced by a number of factors, including, but not limited to, the type of card program, the bank's experience with the program or similar programs, and the third party's experience with similar activities. Poor planning, oversight, and control by management and inferior performance or service by the partner are usually the culprits that increase the risks.
Due to the risks involved, RAB arrangements warrant carefully-orchestrated, management-appointed safeguards and controls. Examiners should determine whether management, even if only considering establishing an arrangement, is fully aware of the risks involved. They should look for evidence that management has identified and documented the business's risks as well as the expertise and controls that will be required to manage those risks. A formal risk assessment may be warranted, particularly when proposed RAB activities will be of a substantial volume or would involve higher-risk characteristics, such as subprime lending or new products. Risks with an issuing-RAB arrangement include, but may not be limited to, legal, compliance, and reputation risks; counterparty risk; funding risk; credit risk; and operational risk.
Legal, compliance (consumer or otherwise), and reputation risks are prominent in issuing-RAB arrangements. These risks can be particularly substantial when subprime lending or other high-risk activities are involved. While these three risks often go hand-in-hand, they are not synonymous. These types of risks arise because the bank is responsible for the program, including actions taken (or inaction) by the third-parties involved. The bank cannot effectively detach itself from the credit card activity since the bank's name remains as the card issuer and the bank remains contracted with the Associations. Thus, errors and violations of law or of cardholder agreements, by the bank or its contracted parties, could expose the bank to substantial monetary loss through lawsuits, fines, or other financial burdens. Consumer compliance risks, which can easily translate into safety and soundness risks, can be exacerbated when the partner's (or its agents') employees interact directly with the bank's customers. For example, if marketing of the card program by the bank, the partner, or a third party is determined to be unfair or deceptive, the bank may be held responsible for any monetary penalties, reimbursements, and any other actions (such as shutting down the program) necessary to promptly address the concerns. As a result, risks to the bank's earnings and capital could ensue. The bank's reputation can also suffer by association with improper or abusive business practices conducted by the partner or its agents. Third parties' decisions may affect a bank's ability to establish new relationships or continue existing relationships, which could impact the bank's strategic objectives.
In general, the bank and its credit card programs must remain compliant with laws, regulations, and guidance including, but not limited to, the Account Management and Loss Allowance Guidance for Credit Card Lending (AMG), consumer protection laws, and anti-money laundering laws. The AMG is generally applicable to all insured institutions that offer credit card programs, regardless of whether or not the receivables are held at the bank. Further, banks' obligations to comply with the Associations' standards are not limited by the receivables' place of residence.
The Associations are highly cognizant of their own reputations. If the card program demonstrates increasing or high risk, inadequate controls, or high volumes in relation to the bank's size and resources, the Associations may require the bank to put up additional capital or collateral for the card program, regardless of where the receivables reside and regardless of whether or not a RAB arrangement is involved. Abuses of a bank's Association membership (including of the by-laws and operating regulations thereof) by a partner or its agents could also cause the bank to lose its authority to issue cards under the Associations' brands. Such a loss could impact the bank's reputation, earnings, and liquidity; could ultimately translate into capital problems for the bank; and/or could require substantial revisions to the bank's strategic objectives.
Regulators may also require augmented capital levels. The necessary level of capital is based on a number of factors, as discussed later in this chapter.
Counterparty risk, or default risk, is the risk that the partner will fail to perform on its contractual obligations. It often ties closely to performance of the card portfolio because the partner's earnings and, thus, capital maintenance, formation, and support, is frequently a product of income generated by and costs associated with the program. The partner usually retains most of the program's income and carries most of the costs when it holds most or all of the receivables.
The partner could fail to meet its obligations under the contract(s) governing the RAB arrangement. For example, the partner might fail to fund the receivables, pay the rental fee, comply with established financial covenants and/or portfolio parameters, or maintain sufficient collateral support. As a result, the bank could have to fund the receivables, potentially increasing its liquidity, credit, and other risks. The bank might not be able to offset its oversight, management, or other costs for the program, which could stress the bank's earnings performance and, consequently, capital.
Funding risk stems from the bank's responsibility to ensure that settlement9 requirements are met. Funding risk, however, could be considered, in some respects, to be a by-product of counterparty risk. Usually the bank settles directly with the processor, whether or not the bank retains the receivables. Even if the partner or other third party is required by the RAB contract to fund settlement and/or may be able to settle directly with the processor, the bank is ultimately responsible to the Associations for ensuring settlement is met as it is the BIN-licensee and the issuer. Consequently, when funds available from the partner, which are usually influenced heavily by cardholder payments, cannot fully meet settlement requirements, the bank is looked upon to make up the difference.
Further, when the partner possesses the receivables, it could subsequently be selling those receivables via securitization. The securitization vehicle must be maintained whether or not the partner is able to fund or acquire the receivables and sell receivables to the securitization vehicle. Further, poor performance of the securitized portfolio could trigger cash capture or early amortization. In these cases, the trust will use incoming cardholder payments as applicable to fund spread accounts, pay off the investor certificates, and so forth. Since those funds will not be available to the partner to fund settlement, the bank could have to furnish funds.
Credit risk remains at the bank for any receivables it retains. Credit risk also arises, albeit off-balance sheet or contingent, if receivables are held by the partner or another entity. Credit risk could shift to the bank if the receivables-holder cannot fulfill its financial obligations, such as settlement, and could be substantial if the bank has not properly controlled the partner's underwriting criteria and the partner has solicited accounts with risky profiles.
Operational risk is generally defined as the risk of monetary loss resulting from inadequate or failed internal processes, people, and systems or from external events. Examples include fraud, business disruption, and poor execution of process management and can all have adverse impacts on the bank and its RAB programs. Comprehensive due diligence and contingency planning, including stand-in arrangements, can help limit the level of and impacts from operational risk.
Practices and safeguards that management commonly implements to mitigate risks include, but are not limited to, instituting policy controls, performing due diligence procedures, establishing a comprehensive contract between the bank and the partner, and developing detailed contingency plans. Without proper safeguards in place, exposure could be substantial.
As part of being contractually responsible for and controlling the program, management normally establishes a thorough review and approval process for policies proposed or used by the partner. An effective RAB contract sets forth the bank's expectations regarding the partner's operating policies applicable to the program and provides bank management with the stated authority to periodically review the policies (both prior to and after implementation) to ensure the policies are consistent with the bank's standards and risk tolerances. Examiners should determine whether policy reviews are well-documented and whether a formal agreement process for program policies is used.
Examiners' attention should be directed to situations in which the bank's internal policies fail to specify a system for approving partners and an ongoing program to monitor the partner's financial condition and operating performance as well as portfolio performance. In general, a comprehensive policy designates the criteria for selecting partners, stipulates information that is required in the RAB contract, and addresses other items, such as limits per RAB relationship and concentration limits.
Examiners' attention should also be directed to cases in which policies (whether the bank's or the partner's) are not consistent with the scale of the activity and the risks it presents. Typically the bank does not diverge from its normal lending practices when participating in RAB relationships. But, if the bank significantly diverges from its normal lending practices, examiners should assess how management has ensured that any eased standards still result in an acceptable level of credit risk and that any elevated risks are appropriately addressed. Failure to adequately control policies used by the partner could result in compliance and legal risks to the bank. Further, it could cause the partner to take on more risk, including credit risk, than it can control, and that risk could fall back on the bank if the partner is unable to meet certain financial obligations.
Risk exposures generally increase when the bank is contracting with a disreputable or inexperienced partner. As is the case for any third-party arrangement, selecting a competent, qualified, and reputable partner is essential to effectively managing the arrangement's risks. Examiners should look for evidence that the due diligence process is structured to identify qualitative and quantitative aspects, both financial and operational, of the partner and to assess the arrangement's consistency with the bank's strategic goals. To be effective, due diligence should occur before conducting business or contracting with the entity, and at appropriate intervals thereafter, such as when the contract is due for extension or renewal.
Analysis of credible financial information on the entity as well as its principals to verify the entity's viability and capacity to absorb losses.
Research of background information and reputations of the entity and its ownership. This process may include reviewing business reputation, complaints, and litigation (such as by checking references or contacting attorney generals' offices and Better Business Bureaus). The length of time the entity has been in business is also applicable.
Performance of a first-hand, on-site evaluation of the entity's business operations, including its premises and relevant records, to ensure it has the proper facilities, equipment, personnel, and so forth.
Review of the entity's management experience in implementing and supporting the proposed activity as well as other relevant qualifications.
Evaluation of the entity's business resumption, continuity, recovery, and contingency plans.
Assessment of the entity's reliance on and success at dealing with sub-contractors, and resolution of which sub-contractors management will conduct due diligence of.
Determination of whether appropriate insurance coverage is in place.
Assessment of whether the entity's culture, values, business style, and strategies fit with the bank's culture, values, business style, and strategies.
Because of the risks associated with issuing RABs and to ensure the RAB operates successfully, it is imperative that the bank devote knowledgeable staff to oversee the arrangement. Examiners should assess the board of directors' practices for identifying the bank positions needed and clearly assigning responsibility for overseeing the partner and its operations. They should determine whether the bank has provided adequate personnel and resources to fulfill its obligations in regards to the program and to monitor the partner's activities and portfolio performance. Examiners should look for proof that the bank's designated staff is knowledgeable and experienced with the processor, software programs, and other devices used by the partner and has legal and compliance expertise as well as accounting and technology expertise relevant to credit card lending. If the bank services the portfolio, proof should confirm whether it has adequate resources, expertise, infrastructures, and technology to appropriately provide the contracted services.
As noted, the bank is liable for meeting the settlement requirement daily but may look to the partner to supply settlement monies. Further, many RAB contracts contain indemnification provisions, but indemnification by the partner is only as strong as the financial wherewithal of the partner. A partner's financial situation could quickly become stressed, even to the point where it may file bankruptcy or become insolvent, possibly resulting in the bank having to retain the receivables if it had not been doing so already. The bank could possibly also end up having to cover costs, such as if fines or penalties have been imposed, if the partner cannot properly reimburse the bank according to governing contract provisions. As such, contract verbiage normally requires the partner to provide reliable financial information, including balance sheet, earnings, cash flow, and contingent liability information. Examiners' attention should be directed to situations in which the frequency of financial statement submission and review is not commensurate with the risk posed by the program and/or the partner. Partners are typically required to submit financial statements at least quarterly and audited financial statements annually. For higher-risk programs or higher-risk partners, more frequent submission and review may be required. Examiners should see proof that the board of directors has assigned responsibility both for evaluating the financial information and for reporting the findings to the board (or a designated committee) to competent employees. Contracts that require proper financial reporting practices can help the bank mitigate the risk of operating under a contract and program that is not fully supported by the financial wherewithal of the partner.
Contracts normally contain financial covenants for the partner (such as capital requirements, liquidity expectations, and appropriate settlement reserve balances) as well as card portfolio parameters (such as growth restrictions and performance expectations). The partner is usually required to periodically report and certify compliance with the covenants and parameters, and the contract normally prescribes remedies in the event the covenants and/or parameters are violated. Examiners' attention should focus on situations in which management does not have access to and/or does not review reliable data to monitor and test compliance with the established covenants and parameters. Proper examiner attention should also be given to situations in which review of the partner's budgets and other projections is not occurring. Such reviews help to detect trends that might signal emerging problems with meeting the covenants and parameters in the future. Further, situations in which the partner has violated the covenants or parameters warrant review during the examination.
If the portfolio becomes stressed, the partner (if it holds the receivables) could experience reduced cash flows which may, in turn, affect its ability to meet settlement requirements and, thus, potentially require the bank to provide funding. Portfolio deterioration could lead to a weakening of the partner's overall financial condition since a substantial portion of its earnings performance usually depends on the portfolio. Further, portfolio deterioration could signal ineffective servicing and management of the portfolio by the partner or other contracted servicers and could eventually entice the partner to use overly aggressive collection or other questionable servicing techniques, which could exacerbate compliance and legal risks. If the partner does not maintain appropriate capital or other financial measures, it may not be able to make good on its indemnification obligations and may not be able to fund the receivables. Thus, if contracts do not establish financial covenants for the partner as well as portfolio performance parameters for the portfolio, the bank is left with the risk that the partner may not be able to properly perform its contracted obligations, such as purchasing receivables, paying the rental fee, and so forth.
To ensure that management can assess the partner's policies and practices for compliance with laws, rules, regulations, safe and sound business practices, and the Associations' rules, the contract ordinarily provides management with ready access to such policies and procedures. Examiners should confirm whether procedures have been established to notify the bank when service disruptions, security breaches, or other events pose risk to the bank or when the partner receives any consumer complaints or litigation notices related to the bank's program. If a contract does not provide for appropriate access to information, the bank may be at the risk of unknowingly being named in lawsuits or unknowingly having its customers' or other information breached. A lack of appropriate access could also inhibit the bank from promptly identifying any changes that the partner may have inappropriately made to its policies or operating procedures.
The agreements generally grant the bank pre-approval rights over all program materials (such as marketing materials and cardholder agreements). Pre-approval rights over plans to issue new products or to materially alter existing products are also typical control features. Further, review and approval of card fee structures prior to implementation is a critical function of bank management. The granting and exercise of all of these rights is necessary to ensure that the partner is not taking on inappropriate levels of risk that could ultimately impact the bank. Contracts that are structured to commit the bank to open or maintain any particular level or number of cards, accounts, or receivables could cause the bank or the partner to take on a greater level of risk than can be appropriately controlled.
A Deposit Account - Many contracts call for the partner to provide for and maintain an adequate deposit to cover potential shortfalls that may occur in daily settlement. This deposit is normally separate from any operating accounts that the partner might have at the bank. Concern arises when the method for determining the necessary deposit amount has not been specified or controlled by the bank. The deposit is usually held at the bank, but, whatever the case, examiners should look for evidence that the bank has proper controls over the deposit, which may include a perfected first lien. The partner typically has outside financing, so without proper controls, the bank's lien could fall behind liens of the financier. The deposit is usually required to cover several days of settlement volume (for purchases, cash advances, and so forth). Some contracts call for coverage of three days of volume (when a contingency reserve or other reserve/protection source is also used). Each contract needs to be reviewed on a case-by-case basis in the context of the activities being conducted and of any additional support (or lack thereof) provided by other means. Effective calculations to determine the deposit consider items such as seasonal fluctuations, portfolio growth, and customer payment rates and are well-documented. Contract features also usually call for the partner to replenish the balance in the account within a very short period once the account is drawn on. Compliance with the deposit requirement is often included in covenant-monitoring reports. Failure by management to ensure the deposit is accurately calculated and sufficiently funded could lead to an inability to meet settlement needs without the bank providing funds.
A Contingency Reserve - Contracts also frequently require the partner to fund and maintain (at the bank or at a third-party) an adequate contingency reserve (or similar instrument) for use if the partner is unable to fully replenish the deposit account. Like the deposit, a contingency reserve usually covers several days of settlement, although its coverage is ordinarily longer, such as around seven days. Contingency reserves also warrant review on a case-by-case basis. In lieu of a contingency reserve, some partners establish a credit facility to the benefit of the bank. An effective contingency reserve calculation (or credit facility or other instrument) considers items such as seasonal fluctuations, portfolio growth, and customer payment rates and is well-documented. If the contingency facility is at a third party, examiners should evaluate management's practices for periodically verifying the availability and liquidity of the funds. Contracts may call for the partner to replenish these secondary funding sources within a very short period in the event they are drawn on, although if the contingency reserves are being drawn on, the third party is likely under financial stress. Failure to ensure the availability of such funds or the adequacy of the required funding amount could lead to an inability to settle in the event the bank does not step forward with its own funds. Again, proper controls over the contingency instrument are critical.
Comprehensive contracts clearly depict the compensation structure, allow for periodic review and re-pricing of services, and identify which party is responsible for each expense incurred. If the partner or another entity holds the receivables, a bank essentially pays for perceived insulation from credit losses by foregoing higher compensation that would typically be associated with carrying the card portfolio on its books. Rather, in these cases, the partner typically retains most of the income generated by the portfolio and carries most of the expenses. Examiners should evaluate whether the bank's compensation is commensurate with the risks retained as well as with the costs incurred for monitoring and managing the arrangement.
Ineffective pricing structures could quickly erode the bank's profits. Therefore, examiners should determine whether, prior to entering into or re-negotiating a RAB contract, management performs detailed cost analyses of its expenses and tries to obtain information on comparable transactions. Because the responsibilities and card portfolios under each bank's arrangements are different, pricing structures are difficult to compare and vary from contract to contract. Some contracts specify tiered fee structures where the fee per account (the definition of account also varies from contract to contract) is reduced as the volume of accounts increases. For example, a contract might call for a dollar per account for the first 100,000 accounts, 75 cents per account for the next 200,000 accounts, and so forth10. Others use a flat monthly rate. Some contracts call for an upfront fee (or set-up fee) and/or establish a minimum fee per month. Whatever the case, examiners should expect pricing to adequately compensate the bank for its risks and costs.
Examiners should also expect that, throughout the life of the arrangement, management produces an income and cost statement for issuing RAB activities and properly budgets for its RAB activities. Effective statements display RAB fees or other related income received and all direct and indirect costs incurred. The bank might have to make a sizeable investment in the program to implement systems and personnel to appropriately run and monitor the program. And, it might not be a profitable venture for the bank if the RAB partner is unable to generate a sufficient volume of accounts or properly manage the program.
Examiners' attention should also be directed to situations in which management is not monitoring portfolio profitability, regardless of whether the bank holds the receivables. Portfolios that evidence deteriorating or negative earnings performance could signal improper management by the partner, existing or future stressed cash flows to the partner, or other impacts on the partner, all of which could potentially, albeit indirectly, result in safety and soundness risks to the bank.
Comprehensive contracts address circumstances under which the bank can exit the agreement and set forth reasonable timeframes for such actions. For example, the bank normally has the ability to terminate the contract if the partner materially breaches the contract (usually after considering a reasonable cure opportunity). Timeframes for notification of intent to terminate should be commensurate with the risks and the reasons for termination. Contract language that requires the bank to incur substantial fees for terminating the contract for appropriate cause should be carefully analyzed. Contracts that do not provide the appropriate ability to terminate the contract leave the bank at the risk having to operate a program that could be unprofitable or that has substantial liquidity risks or other implications.
The potential for serious or frequent violations and noncompliance exists when a bank's oversight program does not include appropriate audit features. As such, management normally retains the right to audit the partner (and its sub-contractors). Contract verbiage also normally requires the partner to provide its applicable internal and external audit reports, including the findings of financial and procedural audits and the partner's responses thereto, to bank management for review. If a contract does not provide for appropriate audit access, it leaves the bank at risk of failing to timely identify concerns or problems with the program and its operations. As a result, the bank could become subject to elevated legal, compliance, or other risks.
Examiners should look for proof that the bank's internal audit program incorporates a comprehensive review of bank management's supervision and oversight of the RAB relationships and activities as well as a review of each entity's adherence to contract provisions. The bank's internal audit program is normally expected to confirm that policies, procedures, and materials for the RAB activities have been properly approved by bank management and comply with laws, rules, and regulations. It ordinarily includes periodic on-site inspections of the partner as well as requires the partner to respond to and address issues identified by the internal audits. Examiners should also assess bank management's practices for conducting its own audits of the partner's processes, especially when the partner has not provided for appropriate audits. Examiners should verify whether internal audits assess how the program complies with applicable laws, regulations, and guidance and whether the internal audits are well-documented and readily available. Regulatory scrutiny and risk management expectations for certain practices will be greater for higher-risk portfolios and segments as well as for higher-risk partners.
Examiners should also direct their attention to arrangements for which all parties involved, including the bank, purchasers, servicers, and other affected parties, do not have proper contingency plans in place. The review should incorporate an assessment of how management normally reviews those types of plans, particularly for entities providing material services. The bank's plans normally involve transferring the program to another entity, funding the program internally, or shutting down the card program if the contract is terminated. Examiners should substantiate whether contingency plans are written and board-approved, identify specific actions the bank will take, and include appropriate information such as contact information for the parties involved. Concern is normally elevated when the plans only include activation after default has occurred and do not consider actions to be taken to lessen risk exposure as soon as indications of potential default by the partner have become apparent. For cases in which securitizations are used either by the bank, partner, or third party as the funding mechanism for the receivables, contingency planning takes on added elements of complexity. For example, the plan then needs to address the impact of potential events on the ability to continue to sell assets to the trust.
Comprehensive, well-thought out plans consider exposures in worst-case scenarios, such as the existing full open-to-buy exposure combined with the maximum time necessary to close accounts, as well as potential, more likely scenarios, such as those that consider the ability to reduce credit lines and close problem accounts. Without a sufficient contingency plan, the bank could find itself in a strained liquidity position, similar to an early-amortizing securitization.
The ability to cease authorizations on the cards if the partner materially breaches the agreement or does not maintain adequate deposits, contingency reserves, or other required collateral is crucial. Contracts and cardholder agreements normally allow the bank to stop authorizations. If management does not have such authority with the processor, problems could arise. If a bank cannot shut down or limit authorizations in a timely manner, it increases its funding risk and may ultimately end up taking on credit risk that it may not be able to control. Even with the authority to cease authorizations, problems could arise regarding the Association membership, impacting the bank's aggregate risk position.
Risk measurement systems to operate, monitor, and control issuing-RAB activities are critical components to the successful operation of such activities. Examiners should assess reports that management regularly receives to determine whether those reports enable management to gauge, in a timely and comprehensive manner, the risk posed by RAB activities. Management normally receives and reviews key management reports no less than monthly. The reports commonly include items such as the number and dollar volume of accounts, delinquency and charge-off volumes, over-limit data, customer service metrics, sales volumes, payment volumes, profitability, and any other relevant metrics needed to appropriately gauge risk. Concerns arise when appropriate segmentation methods are not incorporated and when management is not closely monitoring the trend and volume of available credit (open-to-buy) positions. The level of available credit coupled with normal or expected account usage can be an indicator of future potential settlement requirements. Reports reviewed by management also normally include information for measuring the partner's performance against that required by the contract. If securitization activities are associated with RAB activities, examiners should require that reporting on the securitization facilities and performance is incorporated. Monitoring the securitized pool by both the bank and the partner is particularly important when the partner relies heavily on securitization for funding. The bank could have to fund settlement if an early amortization is triggered. In addition, adverse impacts on the partner's financial wherewithal from poor performance in the securitized receivables could impact the partner's ability to cover its other assigned expenses, such as fines or cardholder reimbursements.
The level of detail and frequency of reporting funneled to the board is contingent on the size and risk profile of the operation in relation to the overall operations of the bank and its capital base. However, board reporting normally occurs no less frequently than quarterly and more frequently in certain instances, such as if concerns with the partner or portfolio are identified, if the arrangements involve higher-risk activities such as subprime lending, if the card portfolios involved are sizable compared to the bank's asset base and capital level, or if it is a new activity.
Concerns normally arise when management has not considered lending or other relationships that it has with the partner when analyzing the bank's total risk exposure or when each applicable area of the bank involved with the partner does not inform the other(s) about any adverse change in the partner's credit quality. For example, a partner's failure to make a loan payment likely points to emerging credit quality problems that may affect the partner's ability to meet settlement requirements or to fund the deposit and/or contingency reserve.
Lending to a partner essentially creates a conflict of interest that could result in management failing to take appropriate action against the partner when problems arise. For example, management might not want to discontinue marketing the card program because such an action might jeopardize repayment of the bank's loan to the partner. When management continues with a problem relationship, it often exacerbates the problems and increases subsequent losses. Examiners should look for evidence that management fully understands the total risk exposure when lending to a partner and carefully manages any such relationships to ensure any losses are minimized.
A bank must hold appropriate capital for all of its business lines, including issuing-RAB arrangements. Effective policies limit the bank's volume of issuing-RAB activity relative to the bank's capital, the bank's risk profile, and management's ability to monitor and control the risks. Examiners assess the records supporting the capital allocation for issuing-RAB activities.
Quality of the partner, including reputation, experience, and organizational culture.
Bank's management expertise in the area of credit card operations and RABs.
Quality of the RAB oversight program.
Profitability of the RAB activities from both the bank's perspective and the portfolio's perspective.
Any instances of breach of contract.
Deterioration in the partner's financial condition.
Type of program offered through the RAB arrangement because certain types of business, such as subprime lending, are inherently riskier.
Portfolio balance as well as open-to-buy trends and exposures.
Quality and reasonableness of contingency plans.
Bank's risk profile, including the adequacy of capital to support its other business lines.
Some RAB banks that are not holding the receivables consider risk-weightings similar to those that would be in place if the receivables were still on the bank's books, adjusted for collateral or other protection available. Examiners should expect that any methodology used will be well-supported and thoroughly documented and tie to considerations such as, but not limited to, those identified in the prior bullet points.
As discussed, issuing RAB arrangements can have various structures. In some cases, the bank may have even been retaining the receivables for quite some time and only later decided to move the receivables off its balance sheet. Examiners will normally look at management's documentation of the RAB structure(s), including bookkeeping entries used. Because the structures, operations, and bookkeeping entries for the arrangements vary based on the governing contracts, accounting consequences also vary. All it would take to bring a receivable within the scope of FAS 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, is for the receivable to be an asset of the bank for even a brief moment before being transferred to the partner or another party. In this case, management will need to determine whether or not the transfer of the receivables qualifies for sale accounting under FAS 140. To ensure all applicable accounting guidance (FAS 140 and otherwise) is followed, examiners would normally expect (and confirm) that management has consulted with the bank's accountants.
Applicable board and committee minutes, in coordination with the EIC.
The bank's RAB policies to determine if they are comprehensive and that management is cognizant of the risks involved in such activities.
Management's due diligence practices to determine whether this early line of defense against problematic relationships is effective.
Staffing and resources to assess if the level is sufficient and qualifications are acceptable.
The contract between the bank and the partner to determine if it is comprehensive and sufficiently limits the level of the risk that the bank assumes.
Management's practices for testing and ensuring compliance with the contract to determine if emerging problems with the partner are promptly identified, thus allowing contract termination to be evoked timely when warranted.
The marketing materials used for the program, including whether bank management exercises appropriate approval authority over such materials.
The audit program to determine if it sufficiently encompasses issuing RAB activities.
Deposit, contingency reserve, or other risk-mitigating funds/assets to determine if they are adequate, appropriately monitored, and readily available.
Pricing structure and profitability data to assess whether fees received adequately compensate the bank and to identify any instances where portfolios might be unprofitable and, thus, appear to pose risk to both the partner and the bank.
Contingency plans for thoroughness and reasonableness.
Compliance with the AMG as well as any other applicable laws, regulations, or guidance.
In some cases, examiners should sample the partner's underwriting and other practices to compare them to established policies, laws, regulatory guidance, and other applicable devices. The use of or level of these types of review can be influenced by whether or not bank management is effectively reviewing and auditing such areas. If bank management is not properly reviewing the various areas, including underwriting and collections, then examination procedures will generally include expanded testing and review of the portfolio. Testing and portfolio review will also likely be expanded when higher-risk lending, such as subprime lending, or higher-risk partners are evident.
Lack of appropriate RAB policies.
Failure to appropriately monitor collateral protection, such as deposit and contingency reserve balances or other risk-mitigating devices.
Lawsuits or other complaints brought by cardholders.
Failure to properly monitor the partner's compliance with financial covenants and performance parameters.
Failure to properly monitor performance of the portfolio.
Failure to meet settlement requirements.
Failure of the partner to provide open and timely communication with management.
Weak understanding of the partner's activities and operations.
Unfavorable correspondence from or to the Associations.
These lists are not exhaustive, and examiners must exercise discretion in determining the expanse and depth of review procedures to apply. If examiners identify significant concerns, they should expand procedures accordingly. In addition, examiners may limit the review as appropriate.
8 As mentioned in an earlier chapter, an ICA is a number assigned by MasterCard and is similar to a BIN that is issued by Visa. ICAs and BINs are collectively referred to as BINs in this manual. This chapter references arrangements involving the Associations; but, similar arrangements may be encountered with other networks going forward, particularly now that Discover and American Express are expanding their bankcard markets.
9 Settlement is the term used to refer to the exchange of the actual funds for the cardholder transactions and associated fees. The issuers normally remit funds, through the Associations, to the acquirer, and the acquirer pays the individual merchants. Settlement is discussed in the Merchant Processing chapter.
10 The fees cited here are for example purposes only and should not be construed to be typical or endorsed pricing.


text:
Predictors of acute admission of more than 48 hours duration
Erlend Aabel1,
Christer Aas Hansen1 and
Christian Backer Mogensen2Email author
© Aabel et al; licensee BioMed Central Ltd. 2013
Prediction Model
When a patient is admitted to an Emergency Department (ED) in the Region of Southern Denmark, estimation is required whether the patient is expected to remain hospitalized for more or less than 48 hours. If the length of stay (LOS) is expected to be less than 48 hours, the patient stays in the ED until discharge. If LOS is expected to exceed 48 hours, the patient is transferred to the relevant department. The aim of this study was to investigate if information available at admission could be used as predictors of LOS, and to determine which group of staff (nurses, junior physicians or senior physicians) was best able to estimate the correct LOS.
A prospective cohort study with collection of data on admitted patients in the ED Aabenraa over a period of 35 days. Information on admission was collected including age, comorbidities (Charlson score), sociodemographic factors, alcohol consumption and smoking habits. The ED staff was asked to give their prediction of LOS. The main outcome was LOS. Data was collected on a total of 730 patients. Analysis was performed using Chi-square test, Kruskal-Wallis test and multivariable logistic regression.
Significant predictors of LOS exceeding 48 hours were age >80 years (OR 2.69; CI 1.28-5.67), Charlson score 1-2 (OR 2.04; 95% CI 1.05-3.97) and Charlson score >=3 (OR 5.55; 95% CI 2.24-13.78). Senior physicians had the highest accuracy (77%) for LOS and an OR of 8.18 (95% CI 1.92-34.78). Sensitivity was low for all staff, with senior physicians having the highest (56.7%). There was no statistically significant difference in correct estimation of LOS between nurses and junior physicians.
A general underestimation of LOS was observed among all staff. The estimation of expected length of stay should be assigned to senior physicians. Age and Charlson score can be included in a clinical prediction model to aid the estimation.
Faculty of Health Sciences, University of Southern Denmark, Denmark
Akutforskningsenheden, Sygehus Sønderjylland, Aabenraa, Denmark


text:
Q: Merging/Updating data sets in Python or Pandas I just started learning python to help me work more efficiently with data files at work instead of just using excel. One issue I constantly have is I often need to download csv files from our database and start cleaning, coding, and formatting the data. However, often there is data missing or data gets updated in the database so then I need to update my data that I already started cleaning in excel. I usually have to copy and paste the new data into my excel file and as you can guess that is not very efficient. Is there a more time effective way to update my original data with the new data using python or pandas?
Thanks for the help!

A: If you are using pandas, what you can do is create a new pandas.DataFrame with the new data, process it the same is with the previous data and then merge both using pandas.concat() to join them just one below the other or pandas.merge() if you want to join them by an specific column to update rows that were present previously.
pandas.concat doc. Example:
pd.concat([df1, df2])

pandas.merge doc. Example:
df1.merge(df2, how='outer', on='<identifier>')

redpajama_set_name: RedPajamaStackExchange


text:
package radium.executable.example;

import com.google.inject.Inject;

import org.kohsuke.args4j.Option;

public class Foo {

	@Inject
	@Option(name = "--name", required = true)
	private String bar;

	public Foo() {
		super();
	}

	public String getBar() {
		return bar;
	}

}

redpajama_set_name: RedPajamaGithub


Credits from the courses listed below are considered experiential or independent credits by the College of LSA.
Only 8 experiential or independent credits may be counted toward your sociology major. Only 4 of those credits can come from SOC 225.
No more than 15 transfer credits may be counted toward the sociology major. Students who declare the major after August 31, 2011 must take the methods (SOC 310 or 312) and theory (SOC 305) requirements on the UM--Ann Arbor campus.
Introductory courses at any level cannot be counted toward the credits required to complete the major.


The Folger Shakespeare Library organized the First Folio tour to mark the 400th anniversary of the playwright's death.
MIDDLEBURY, Vt. – Art exhibits and musicians go on tour but what about an almost 400-year-old book?
William Shakespeare's First Folio—the first complete collected edition of his plays and one of the world's most influential books—is coming to the Middlebury College Museum of Art February 2-28. The exhibit, "First Folio! The Book that Gave Us Shakespeare, on tour from the Folger Shakespeare Library" marks the 400th anniversary of the playwright's death. Along with the month-long exhibition, the College will host performances, a workshop, speakers, a film screening, family events, and a folio festival that features Renaissance music, gallery talks, and a live theater performance. Middlebury collaborated with several community partners, including the Ilsley Library and the Town Hall Theater, to offer a number of the activities.
"It is because of this book that Shakespeare is known as the most famous author in the English language," said Middlebury Director of Special Collections Rebekah Irwin, who organized the events.
The First Folio includes 36 Shakespeare plays. Eighteen of them, including Julius Caesar, Macbeth, and Twelfth Night, would probably have been lost without the creation of the First Folio. Compiled by two of Shakespeare's friends and fellow theater colleagues, it was published in 1623–seven years after his death in 1616. Just 233 copies of the First Folio survive today, 82 of which are in the Folger collection in Washington, D.C.
An image from one of the Shakespeare First Folios at the Folger Shakespeare Library.
The Folger will send out a total of 18 First Folios across the country. Some of them will make multiple stops so that every U.S. state will host a First Folio at some point during the tour. Middlebury College will serve as the host site for Vermont, and is among the first 10 sites where the First Folio will be on display. The exhibit locations include 23 museums, 20 universities, five public libraries, three historical societies, and a theater. The complete list of host sites and tour dates is available on the Folger's website.
The First Folio will be opened to the most quoted line from Shakespeare, "to be or not to be" from Hamlet. Accompanying the book will be a six-panel exhibition exploring Shakespeare's impact, then and now, along with interactive, digital activities.
Highlights of the associated events at the College include a keynote talk on February 3 titled "Shakespeare in America" by James Shapiro, professor of English and comparative literature at Columbia University. Shapiro will explore how Shakespeare's works have served as a prism through which Americans have experienced major historical events and issues, from revolution to social justice. The talk is co-sponsored by the Vermont Humanities Council.
On February 18, the First Folio Festival will take place in the lower lobby of the Mahaney Center for the Arts from 4:30 to 6 p.m., and it will feature Renaissance music, gallery talks, and a live theater performance celebrating the exhibition First Folio! The Book that Gave Us Shakespeare.
At 4:30 p.m. the Penny Lane Consort will perform music of Shakespeare's time on recorders, sackbut, and other instruments. At 4:45 and 6:15 p.m., join Middlebury College professors James Berg and Timothy Billings for gallery tours in the Museum of Art.
At 5:00 p.m., the Middlebury Actors Workshop will perform Straight Up Shakespeare, an energetic, fast-paced romp through Shakespeare's world. This free performance will feature Shakespeare's most famous scenes and sonnets, linked together with original commentary that will demystify Shakespeare for all ages. The Mountain Ayres, Middlebury College's co-ed acappella group dedicated to the appreciation and performance of Renaissance music, will serenade visitors until it is time to say, "Good night, good night. Parting is such sweet sorrow."
Also enjoy Renaissance refreshments and children's activities. "Shakespeare selfies" will also add to the festival atmosphere.
Off campus, the Ilsley Library in Middlebury will host a Shakespeare story time, a screening of "The Lion King," and a Shakespeare film-making camp. Beyond Addison County, there will be talks by Dartmouth Professor Emeritus Peter Saccio at Norwich Congregational Church and by Middlebury College Professor of English Timothy Billings at the Brownell Library in Essex Junction.
All events are open to the public and all, except for one, are free (tickets are required for one performance/master class). More information is available here.
What are some common expressions that were either coined by Shakespeare or popularized by him?
Why is the First Folio coming to Middlebury College?
One of the most important books in the English-speaking world, Mr. William Shakespeares Comedies, Histories, & Tragedies, is commonly known as the First Folio. It is believed that about 750 copies of the First Folio were published in 1623 and that 233 copies survive today. The book preserves much of Shakespeare's canon, as well as the author's only authenticated portrait. It saved from oblivion 18 plays that had not previously appeared in print, among them The Tempest and Macbeth. Were it not for this book, Shakespeare would not be known as the most famous author in the English language.
The First Folio is coming to Middlebury College as part of an international celebration marking the 400th anniversary of Shakespeare's death. In the United States, First Folios will visit all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Middlebury College has been chosen as Vermont's sole host for this exhibition.
What does hosting the First Folio mean for Middlebury College as an institution?
Being chosen to represent Vermont in this event is a great honor. Middlebury was selected as the state's sole site for this tour, in part, because of the College's influence as a cultural and liberal arts hub for Vermont, as well as its central location within the state. Half a dozen Middlebury faculty teach and study Shakespeare through literary, theatrical, environmental, cinematic, and musical perspectives. Having the folio on campus will offer countless educational opportunities for students and faculty.
The First Folio will also give Middlebury College an opportunity to encourage residents of the community and the state to visit campus for the exhibition and related activities.
What do the exhibit and related events offer to Vermonters?
Vermont is the nation's second least-populated state and the second most rural state. It is unusual for Vermonters to have local access to this type of cultural event, as national touring exhibitions like this are usually hosted in major cities. For many visitors to Middlebury's exhibition, this might be their first and perhaps only chance to see this rare and influential book.
Opportunities for education will extend to students, faculty, staff, and to the larger community. All through February, Middlebury College, along with the Vermont Humanities Council, the Town Hall Theater, and Ilsley Library, have planned activities.
Professor Cubeta's Shakespeare seminar (meeting at his home) was the highlight of my Middlebury education. I did a Master's thesis on Antony and Cleopatra. What a great honor for Middlebury.
Interesting that Paul Cubeta's seminar was mentioned, as I also had him as a Shakespeare professor my senior year. My interest in Shakespeare was further developed and polished at Bread Loaf, both in Oxford and Vermont. I'll be running the Shakespeare video camp mentioned in the article. We'll be making stop-motion animations over February vacation--look for them later in the month on Ilsley's Youtube channel!
As someone who holds an MA and MLitt from Middlebury's Bread Loaf School of English and who first became hooked on Shakespeare upon seeing Alan McVey's 1980 production of A Midsummer Night's Dream and taking a Shakespeare class with Alvin Kernan that summer (one that Paul Cubeta audited!), I congratulate Middlebury College on this honor. I am happy to be the project director for Hawaii's host site for First Folio! and hope any Middlebury folks visiting Oahu from April 25-May 25 will think about visiting the exhibition or ancillary events here.
I was in that play, Mark! Was one of the prancing fairies and that experience transformed me...then went to Oxford to study Shakespeare and His Contemporaries my last summer graduating with my MA at both Oxford and Bread Loaf ceremonies...Middlebury rocked my theatrical and literary world!
I remember that performance of Alan McVey's 1980 production of "A Midsummer Night's Dream" very well. He used Pachelbel's Canon for the last scene: just magical. I went to Oxford to study Shakespeare's comedies with John Wilders: such an actor!!! I am so thankful for my study at Middlebury's Bread Loaf School of English.


then we can write the ending.
It was 6:00 p.m. Isla Mujeres, Mexico time, on Sunday, March 8, 2015— International Women's Day. It was the closing ceremony for the We Move Forward women's conference held that weekend at the MIA Reef Hotel.
Moving around the circle, "I feel blessed" and "I am grateful" were the phrases spoken most often. Insights were shared and commitments made to move forward with the intention of creating our best possible lives. There were tears and laughter, touches and hugs—as there had been the entire three days.
We Move Forward was founded by Janeen Halliwell, who believes "We are all ordinary women that are capable of doing extraordinary things. Taking time to get clear on our desired future brings us closer to experiencing it. Believe in yourself and pay attention to those who believe in you too." Janeen created WMF to bring kind-hearted, like-minded women together in a supportive, affirming community—where there is the time to focus on their deepest desires—and where tools are shared that can empower them to create healthy, happy, authentic lives.
I arrived at WMF feeling emotionally and physically battered and bruised—from my work, from the brutal Chicago winter, and from my previous three months of doctors' visits and surgeries. I had great hopes for the conference: To meet lovely people, to gain valuable insights, to rest and heal. I was not disappointed.
I believe in divine timing and know it played a part in my journey to We Move Forward. The initial conference was in March 2012, but I first became aware of it in 2013. My husband and I were vacationing on the Mayan Riviera that February and I knew WMF was going to be held in nearby Isla Mujeres soon after we left. I felt a pull—and I imagined staying on in Mexico and crashing the conference!
Fall of 2014, I felt the pull, again. I went to the WMF website so often that the music stayed on my mind. I studied pictures and read about the speakers and Janeen's mission. In October, I entered a WIN Wednesday book giveaway and on October 14th Janeen messaged me that I'd won! I wrote her of my interest in attending WMF and got her address so I could gift her with a copy of East of Mecca. On January 14, 2015, East of Mecca was featured for Win Wednesday!
By early December, I knew I had to attend the 2015 conference. But then there was the funky mammogram and biopsy. Monday, December 8th, I got the (false) "all clear." I'd been following airline prices to Cancun and December 10th they dropped to an all-time low. I purchased them and registered for WMF that day.
It was a good thing I didn't know of the roller coaster I was already riding—that I would have a lumpectomy on January 28, receive a cancer diagnosis, and have a second surgery February 12. For the second surgery, my primary concern was scheduling around WMF. "I'm going to Mexico the first weekend in March," I announced, more than once. "I either have the surgery well before or schedule it for afterwards." There was no debating—no considering NOT going.
I had wanted to attend WMF so long before I knew how much I would need to attend, that by the time I boarded the plane for Cancun, Thursday March 5th, the wanting had turned into an urgency—a physical and emotional longing. Like the instinct driving a homing pigeon in flight.
My flight was smooth, and walking through the doors of the Cancun airport I was greeted with welcoming Mexican heat and entrepreneurs selling tours, cold beer, and icy margaritas. It was a festive atmosphere. My transportation was pre-arranged through WMF, and I was happy to see my name on a placard.
By the time I was on the ferry from Cancun—crossing the exquisite, clear, turquoise water to Isla Mujeres—all my senses were awakened. There were blue skies and soft, salt-scented breezes. The sun was warm on my winter-white skin. A Mexican couple sang and played guitar. Emotions welled and soon I was crying with gratitude and happiness. I felt like I was coming home.
At the MIA Reef Hotel, I checked into my room on the sixth floor, with a balcony overlooking the Caribbean. Then I immediately ran across the bridge to where a pre-registration Happy Hour Meet & Mingle was in progress. My first image of the women of WMF was at the Fenix restaurant where they were posing for a group photograph. I rushed up breathlessly, was welcomed, given my badge, and immediately gathered into the group for a picture. Immediately gathered in could well describe my overall experience at WMF—welcoming and inclusive.
Some women had attended before and some of us were first-timers. Some came with friends and many came alone. We were all ages and backgrounds. Mostly, we were strangers to each other, but we already had much in common—hearts heavy with burdens both similar and different. There were recent widows and divorcees. Women struggling with their own medical issues or those of loved-ones. Those grieving private losses evidenced by distant stares and frequent tears. I felt war-torn and weary from my surgeries and the previous months' stress.
At the mixer, I met Janeen and her lovely mom, and Joyce Hamilton (who had won East of Mecca), and a number of other women—including Michelle Collier, who would become a friend I hope to see again in my life outside of WMF.
That night, there was a full moon over the Caribbean. I left my drapes open and slept soundly with the ocean breeze blowing into my room. The next morning, I awakened to a beautiful sunrise.
Friday, the first full day, was amazing and jam-packed. Janeen's moving welcome address set the stage for all to come. We were encouraged to set daily intentions and listened to powerful speakers. In a breakout exercise we were randomly assigned groups where we shared personal information. I was in the pink group. There were movement breaks throughout. There were also musical interludes featuring the hysterically funny, irreverent singer/comedian, Lisa Koch. Some of her songs were moving, but most left us laughing uncontrollably.
A group of us ate lunch in a local restaurant, and that night I was swept into a golf cart by a group of women for a long ride to the Bahia Tortuga Performing Art Centre to see Lisa Koch and Jeff (the WMF sound guy) perform. About fifty of us ate dinner under the stars. There was lively conversation, laughter, and many margaritas. Afterwards, a crowded taxi ride got me back to the hotel.
Saturday was another full day, with fabulous speakers, music and laughter, meaningful movement. I loved it all. Again, a small group of us went out for lunch, and later there was a scavenger hunt. My pink group gave it our best shot, but we didn't win. Dinner that night was at Fenix.
In Saturday night's journal entry, I was plotting ways to reschedule my Monday morning flight for another day.
Sunday, March 8th was International Women's Day. Our last day of WMF had arrived so quickly. Our first speaker was Almas Jiwani, President of United Nations Women Canada National Committee. She spoke eloquently on the importance of women's empowerment, gender equality, and "The Power of One." Following Almas was Cathy Cleary, whose inspiring stories about her work with Tchukudu women and children in the Congo had us in tears.
And then Jerusha Akatzin, a Mayan priestess, performed a Mayan blessing. After a short sermon she created an altar from cloth and candles and the elements. Jerusha asked us to think of what we wanted to let go of, as well as what we need to embrace in our lives moving forward—to consider carefully when asking for these things. With belief, she said, our prayers would be answered.
I asked for healing—to regain my physical and emotional health. To experience vitality that had gone missing over the past number of months. We were each blessed individually while touched with roses and greenery that had been dipped in holy water. After being anointed, I was so overcome with emotion that I had to move away, cover my face, and sob. Two separate women came forward with strong, comforting hugs. Thank you, Deanne and Merlyn. I am forever grateful.
After more music and a lovely mini-massage, Michelle and I went to Fenix for lunch. We ate ceviche and shrimp, talked while live music played in the background then returned to the MIA for a global dance party on the terrace. The dancing was so much like Zumba that I felt I was home!
That afternoon, I resisted two tempting workshops and chose to spend alone time on the beach. I waded deep into the clear, turquoise waters of the Caribbean, immersed myself in the warm, salty water, and imagined my healing had begun. Then I spent the next hour basking in the sun and enjoying a piña colada.
From 5 to 6, there was a happy hour on the terrace. By that time, we were all attired in white for the closing ceremony. We drank wine, margaritas, or the popular "Miami Vice" made of piña colada and strawberry puree—and we toasted Janeen and the entire WMF team that had made the conference so wonderful. And then, it was time for the closing ceremony.
I cannot remember exactly what I said when the basket reached me. I know at that moment I felt blessed, grateful, and aware of my miraculous journey to WMF. Moving forward I vowed to stay on my emotional and healing path—and to stay true to the promises I'd made to myself.
After more hugs and tears, we celebrated at a banquet and dance party. There was abundant food and wine, conversations and laughter, and great music. The weather was sultry, but there are few things I love more than dancing. A sweat-drenched group of us danced all night, with the party ending at 11:00.
It has taken me longer than usual to write this post, because describing the spiritual and emotional experience of We Move Forward has been like trying to describe the majesty of the Grand Canyon to someone who has never seen it. Neither words nor pictures can clearly convey how and why it is so life-changing. Its magic exists in what is unseen; the nurturing, validating energy of one hundred women gathered together—accepting, loving, crying, and laughing. Coming together as strangers, parting as friends.
~My final journal entry, Monday March 9th, 2015, 7:30 a.m.
Today, I move forward. I'm sitting on my balcony on Isla Mujeres having watched the sunrise. There is a lone red and white fishing boat out on the choppy water, and waves crash on the rocks below me. The sky is blue and the sun is already warm on my face. I feel at peace and at home here. I must come back.
* For more information on We Move Forward, please visit their website, www.WeMoveForward.com I encourage every woman I know to consider attending WMF2016. I promise you won't regret it. I'll be there!
Hugs and warm wishes, Sheila. I'm enjoying reading your posts and learning more of your journey. I wish our time together in that Carribean paradise were longer but I look forward to visiting soon.


text:
Edith Wharton was a novelist of manners of late 19th Century New York "Society", who spent much of her life in France. In this novel she tells the story of Undine Sprague, the thrice- (or more) married, upwardly mobile beauty from "Apex City", transplanted to New York, and finally to France, leaving the dead and wounded in the wake of her "experiments in happiness".
. . .And the rest—why shouldn't the rest be sent over to Europe after us? I want to go straight off with you, away from everything—ever so far away, where there'll be nobody but you and me alone!" She had a flash of illumination which made her turn her lips to his.
"Oh, my darling—my darling!" Marvell whispered.
Mr. and Mrs. Spragg were both given to such long periods of ruminating apathy that the student of inheritance might have wondered whence Undine derived her overflowing activity. The answer would have been obtained by observing her father's business life. From the moment he set foot in Wall Street Mr. Spragg became another man. Physically the change revealed itself only by the subtlest signs. As he steered his way to his office through the jostling crowd of William Street his relaxed muscles did not grow more taut or his lounging gait less desultory. His shoulders were hollowed by the usual droop, and hi. . . Read More
- Glenn - Dec 15, 2022
Is Undine Spragg the most odious fictional character ever?
I know The Custom of the Country is more than a century old, but Undine Spragg is certainly one of the most despicable characters in all of literature. She uses people. She's vain. She lies. She's horribly superficial. She treats her child li
- Beth - Jul 12, 2007
This book is amazing. No one writes like this anymore -- in fact, after I finished this, I had a hard time getting into a more contemporary novel, because the newer book felt so spare and empty compared to Wharton's thoughtful and lovely prose. Certain paragraphs of Custom of the Country made me sto
- Alex - Aug 12, 2020
Edith Wharton has fixed Henry James, whose essential problem is that he's a pain in the ass. He's smart and all, if that's what you're into, but he's never been known to end a sentence and he has this perverse refusal to write the interesting parts of stories. It's weird, right? It's like if the Dea
- Vessey - Oct 22, 2018
Social gold does not always glitter
Edith Wharton did not have a happy life. Nor do her characters. What is happiness anyway, if not merely a part of our lives, something we all pursue, but rarely, if ever, possess in a clean, full form? We are destined to fail. We are imperfect by design. An
- Martine - Mar 10, 2008
Think Edith Wharton only wrote novels about nice people who fall victim to society's uncongenial mores? Then The Custom of the Country may come as a bit of a surprise to you. Far from a dignified, morally superior character, the book's heroine, the beautiful but vulgar Undine Spragg, is a selfish mo


I was searching for a Property and found this listing (MLS® #SK759084). Please send me more information regarding #1305 - 715 Hart Road, Saskatoon, Saskatchewan, S7M 3Y9. Thank you!
I'd like to request a showing of #1305 - 715 Hart Road, Saskatoon, Saskatchewan, S7M 3Y9 (MLS® #SK759084). Thank you!


text:
Woods Hole Film Festival: "Jesus Camp"
This entry was posted on January 19, 2012, in documentaries, movies and tagged "Jesus Camp", Woods Hole Film Festival. Bookmark the permalink.	Leave a comment
Watching Heidi Ewing and Rachel Grady's 2006 documentary, "Jesus Camp," about the indoctrination of Evangelical Christian children to serve as soldiers in the army of God, I was at first amazed that the filmmakers had been able to gain such intimate access to the children, their parents, and their religious instructors, given the filmmakers' more liberal viewpoints.
Then I realized that what a non-Evangelical Christian might see as something close to brainwashing is viewed by Evangelicals as effective religious training, an appropriate response to Islamic fundamentalist terrorist training.
Becky Fischer, in a scene from "Jesus Camp."
The film focuses on Becky Fischer, a children's pastor who runs Kids on Fire, a summer camp for Pentacostal Evangelical Christians, ironically located at Devil's Lake, North Dakota. She is very, very good at what she does, training children 12 and under to be soldiers of the Lord. And she is very proud of, and open about, the methods she uses.
A growing percentage of the US population describes themselves as Evangelical, or born-again, Christians, and their political influence in expanding along with their numbers. George W. Bush, who was president at the time this film was made, a born-again Christian himself, had a tremendous influence. As the film opens, Bush has just nominated Samuel A. Alito, Jr. to replace Sandra Day O'Connor on the Supreme Court. The evangelicals know that Alito would change the balance of the court, making it possible to repeal Roe v. Wade and pray for his confirmation.
(The issue of abortion taken up in "12th & Delaware," a 2010 film by Ewing and Grady, also being screened at the Woods Hole Film Festival).
Representing the responses of non-evangelical Christians is radio talk show host Mike Papantonio, who feels that the Christian Right is dividing the country, that church and state must remain separate. "Nothing Christian about them," agrees one of his callers.
"None of it really makes any sense," laments Papantonio, decrying the entanglement of politics with religion. He remains frustrated and perplexed throughout the film, while Fischer moves ahead, telling her young and eager students that they hold the key, they can change "this sick old world" by proselytizing and speaking out on behalf of fetuses in danger of being aborted.
She leads them in a chant: "I'm willing God. I'll do what you want me to do. I'll say what you want me to say."
Becky is asking a little more of these kids than distributing pamphlets door to door. She wants them to participate in anti-abortion rallies and be willing to lay down their lives for the Gospel, "just as they are in Pakistan, Israel, and Palestine." The children use military language and dance with spears and in camouflage to illustrate their roles as warriors of God.
Children participate in an anti-abortion rally.
The film follows Levi, 12, Rachel, 9, and Tori, 10, three young believers. Levi, who was born-again when he was only 5, has already begun preaching himself. He, like many others, is home-schooled and learns from his born-again mother that evolution and global warming are just plain wrong, and that creationism is correct because it is "the only possible answer to all the questions," reasoning that pleases Levi.
Rachel is a bright young girl who would like to be "one of those people who paint nails" so she can spread the word about the Lord to her customers in a peaceful setting, with Christian rock music playing in the background. She has the missionary zeal, is moved to tears in charismatic moments, and puts herself in a trance by speaking in tongues.
Tori loves to dance, though she admits she sometimes mixes up "dancing for the flesh" and "dancing for Christ." She and her family pledge allegiance to the Christian flag and the Bible.
Once at camp, the leaders pray over the seats, the electrical system, the PowerPoint program, and the video projectors and microphones to be sure nothing interferes with conveying the camp message.
Becky remains a strong and resourceful pastor and caring mother figure throughout, firm in her commitment to the Lord herself, and certain that the world can be changed by winning over the children. A former DJ on a country music station, she knows how to handle a crowd. She shows anger only once, in her attack on Harry Potter as a warlock, an enemy of God.
Pastor Ted Haggard teases the filmmakers in a scene from "Jesus Camp."
We also visit the New Life Church in Colorado Springs, which, at the time was headed by Pastor Ted Haggard, whose homosexual relationships and drug use forced his resignation from the church shortly afterward.
In the commentary to the film, Ewing and Grady talk about their desire to revisit these kids 10 years later and see how they are doing. I hope they do.
In the meantime, no matter what your religious affiliation, do watch this film, and also take a look at "12th & Delaware."
"Jesus Camp" was screened tonight at 9 PM and "12th & Delaware" will be shown Tuesday, August 2, at 7 PM, at the Old Woods Hole Fire Station. "12th & Delaware" refers to an intersection in Fort Pierce, Florida, where an abortion clinic and a pro-life crisis pregnancy center stand across the street from each other. As in "Jesus Camp," the directors allow the film's participants to tell their own stories.
And stay tuned for Ewing and Grady's upcoming film, "Detroit Hustles Harder," a look at the city's struggle to transform itself into a new and innovative place.
« Woods Hole Film Festival: "Raising Renee"
Woods Hole Film Festival: "Windfall" »


A photographic exhibition looking back 100 years through history to events that took place from 1900 - 1910 in the Milton Keynes area. A selection of vintage cameras accompanies this exhibition.
Please click on image to view the powerpoint presentation that was created to accompany this exhibition.


For a little added definition, a hint of glowing assistance or even just a dose of extra bronze, we've got all the formulas. A velvet-soft, cushion-applicator Supergel, a four-piece, all-singing, all-dancing palette or a magic pot of glow-getting drops. And everything in between.