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Main Condolence Page / June 2013
Jensen, Klara Kristine
By AhernFH on June 27, 2013
Klara Kristine Jensen, passed away in her sleep on Monday, June 24, 2013 after 93 years of a full and meaningful life. Klara Kristine Jensen was born to Knut and Kari (Homdrom) Haegestoyl on March 30, 1920 in Gjovdal, Norway, where she grew up with her three sisters, Thora, Kari, and Margit, and two brothers, Gunvald and Halvor. She married Jens Kristian Jensen in October of 1946 after he returned to Norway from a WWII Japanese war camp where he had been rescued in 1945 by American soldiers. They moved to Brooklyn, NY in 1948 where they raised their two daughters, Helga and Brit. Klara was a registered nurse from Norway where she cared for many wounded soldiers at the Arendal Hospital during WWII. She learned English and received her USA nurse's license in Brooklyn, and served as a wonderful nurse at the Lutheran Medical Center in Brooklyn, NY. She loved The Lord and taught her children and grandchildren to turn to Jesus for strength and courage for all of life's challenges. She is survived by her two daughters, Helga Jensen Findley and Brit Jensen Aavik, four granddaughters, Lisa Brit Wahlberg, Lori Aavik, Sonya (Aavik) Smith, and Sara Aavik, and five great grandchildren, Shane, Lucas, and Skyler Wahlberg, and Hannah and Jacob Smith. Bessy, as everyone called her, was welcomed Home to Heaven by our wonderful Savior Jesus Christ, her beloved husband Jens, known as Bestefar, and her precious grandson, Darin Jensen Findley. Bessy will be missed and memories of her will be treasured in our hearts until we see her again. She left us a lasting legacy that taught us all how to pray…that no matter what happens in life, when we turn to Jesus in prayer, we are safe in God's hands. Thank you Mom, we love you, and look forward to hugging you again in that wonderful place called Heaven! A private graveside service for immediate family will be held on Friday, June 28th, followed by a Memorial Service at her home church in Brooklyn, NY at a later date. In lieu of flowers, please make donations to her home church in Brooklyn, New York where she served on many outreach committees, Fifty Ninth Street Lutheran Brethren Church, 745 59th Street, Brooklyn, NY 11220 in memory of Klara Jensen. Thank you all for your prayers.
Peacock, Florence
Florence E. Peacock of Dunedin FL, formerly of Tolland, CT, died peacefully on June 3, 2013. She was born on June 19, 1920 to Duncan and Frances (Lynch) Grant in Easton, Maine. Florence leaves a daughter and son-in-law, Susan and Allen Mitchell of Burlington, CT. She was predeceased by her husband of 64 years, Robert. Florence worked in a variety of secretarial and administrative roles, and enjoyed the learning new technology from key punch machines to computer software programs. An excellent seamstress, she made beautiful clothes for herself and for her daughter. Robert and Florence enjoyed camping and square dancing, especially during their retirement years in Florida. The family is grateful for the staff of Emeritus at Dunedin, who offered a safe and comforting setting for Florence as her dementia progressed, and for the wonderful Suncoast Hospice team that provided extra care to assure a peaceful final journey. The Funeral Liturgy will be celebrated Saturday June 29th at 10:00 am in the Church of St. Mary Star of the Sea, Main St., Unionville, CT. Burial at the Tapley Cemetery in Blaine, ME will be at a later date.
Caird, Marion S.
Marion S. Caird, 87, of Unionville, widow of William R. Caird, passed away Tuesday, June 18th at her home. Born in New London, February 9th, 1926, she was the daughter of the late William and Lea (Blanc) Simons. Prior to retiring, Marion was the Office Manager for Dr. Louis Coulson in New London. Marion was a loving and caring grandmother to all her grandchildren and great grandchildren who meant the world to her. She is survived by her daughters, Pamela E. DeVincke and her husband Frank and Bonnie L. Presto and her husband Frank, her grandchildren, Tina Byfield, Sheri Daly, Zac Presto, and Ricki Presto, her great grandchildren, Spencer Daly, Drew O'Leary, Ian Byfield, Emily Byfield, Connor Daly and Isabella Byfield, her sister, Ruth Beckwith and many favorite nieces and nephew. She was predeceased by her son, Gregory W. Eagles and her brother, William Simons. Funeral services will be held in The Ahern Funeral Home on Sunday (June 30) at 12:00pm followed by burial in Center Cemetery, Burlington. In lieu of flowers, memorial contributions may be made to the American Heart Association, 5 Brookside Dr., P.O. Box 5022, Wallingford, CT 06492.
Hatfield, Frederick R.
Frederick R. Hatfield, formerly of Farmington, passed away peacefully on June 11th, 2013 in Mesa, AZ. Born on July 9th, 1927, son of the late Richard and Rose (Atkinson) Hatfield. Fred worked at Heublin for over 30 years as well as with the Farmington Police Department. He was a communicant at the Church of St. Mary Star of the Sea in Unionville. Fred is survived by his wife, Shirley (Fitzgibbon) Hatfield, sons, Thomas Hatfield of Washington, Frederick Hatfield Jr., of Chandler, AZ, daughter, Margaret Marais and husband Kevin of Senoia, GA, grandsons, Luke and William, his sister, Helen and her husband Augie of Florida and his step-son, Dana Waas, his wife and girls of Mesa, AZ. Fred was predeceased by his first beloved wife, Virginia Arbegast, daughter-in-law, Larilyn, step-son, William Waas and step-grandsons, William II and Brendan. The Funeral Liturgy will be celebrated Monday (July 22) at 10:00am in the Church of St. Mary Star of the Sea, Unionville followed by burial in St. Mary Cemetery, Avon. There will be no calling hours.
Tessman, Jason Wayne
Jason Wayne Tessman passed away suddenly on Tuesday, June 18th. He is survived by his son, Michael Tessman, his parents, Ken and Gloria Tessman and their spouses, his brother, Eric Tessman and his wife Alisha, his sister, Kathy Nogiec and her husband Greg, his soul mate, Christy Catala and many aunts, uncles, nieces and nephews who loved him. Jason enjoyed music, his R.C car and working outdoors. He also enjoyed his many friends and family. He will be missed by all. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Saturday (June 22) from 5:00-7:00pm. In lieu of flowers, memorial contributions may be made to ADRC, 500 Blue Hills Ave., 9th Floor, Hartford, CT 06112.
Turner, Roland E.
Roland E. Turner, 88, formerly of Unionville, beloved husband for 68 years to Marguerite "Rita" (Radigan) Turner, passed away peacefully at home in Ocala, Florida on June 8th, 2013. Born in Hartford on December 9th, 1924, son of the late Harold A. and Vida Turner. Roland served with the 3rd Marines, 3rd Division in the South Pacific during World War II. He retired in 1988 after working over 40 years in auto parts departments at Grody Chevrolet, Captial Motors and O'Neill's Chevrolet. He was an avid Boston Red Sox and Boston Celtic Fan. Besides his wife, Roland is survived by his two sons, Roy A. and Stella Turner of Ocala, FL and John and Diane Turner of Unionville, his three daughters, Maureen and Joseph Lagana of Newington, Donna-Lee and Paul Erasmus of Farmington, and Theresa and Gregory Kilduff of Canton, 16 grandchildren and 30 great grandchildren. He was predeceased by his sons, Roland E. Turner Jr., and Raymond Turner, his brother, Harold A. Turner Jr., and his sister, Joan Turner Burnham. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Sunday (June 23) from 5:00-8:00pm. Funeral procession from The Ahern Funeral Home will be Monday (June 24) at 9:00am followed by Funeral Services in St. James Episcopal Church, 3 Mountain Road, Farmington at 10:00am. Burial with full military honors will be in Riverside Cemetery, Garden St., Farmington. In lieu of flowers, memorial contributions may be made in his name to Disabled American Veterans, Unknown Solider Chapter 12, Greater Hartford Inc., P.O. Box 280281, East Hartford, CT 06128.
Humphrey, Neal Stanley
Neal Stanley Humphrey, 65, beloved husband of Ginger Humphrey, passed away May 17th at his home. Born in Hartford, April 29th, 1948, son of the late John Stanley and Lois C. Humphrey. Neal was a United States Navy veteran and was a Process Operator at Exxon for many years. He was a loving husband, father and grandfather and he will be missed! Besides his wife, Neal is survived by his daughters, Brandi C. Humphrey and Jennifer S. Lewis; son-in-law, Bobby D. Lewis; grandchildren, Brittany A. Lewis, M. Jade Lewis, and Kennadi K. Lee; his brother, Glenn Humphrey; and his sisters, Joan Tharau and Sue Quartiero and several nephews. Graveside funeral services will be held Friday (June 21) at 9:00am in Center Cemetery, Burlington with Rev. Wendell Taylor officiating. Until we see you again…Rest in Peace / Paradise Pop!
Peters, Mariann Clemenza D.D.S.
Mariann Clemenza Peters, D.D.S., 50, of Farmington, beloved wife of Thomas G. Peters, D.M.D., passed away peacefully Friday, June 14, 2013. Born in Bronx, New York , March 27, 1963, daughter of Camille (DiFrisco) Pandolfelli of Naples, Florida and the late Vito Clemenza. Mariann was a graduate of Fordham University and the Georgetown University School of Dentistry. Besides her husband and mother, Mariann is survived by her sons, Thomas G. Peters, Jr. and Christopher W. Peters, both at home in Farmington, her sister, Carolyn Clemenza-Dixon, D.D.S. and her husband Thomas Chappaqua, NY, her brother, John W. Clemenza, M.D, D.M.D, his wife, Vassie and their children, William, Camilyn and Patrice of Hermitage, PA. Her mother-in-law, Mary Elaine (Panagos) Peters of Farmington, her sister-in-laws, Cheryl Peters and her husband Mark Schlepphorst and their children, Olivia and Katie, of Groton, MA and Niki Franklyn and her husband Wilnems and their daughter, Zoe, of Watertown, MA.
Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville Today (June 16) and Monday (June 17) from 6:00-10:00pm. The Funeral Liturgy will be celebrated Tuesday (June 18) at 10:30am in the Church of Saint Patrick, Main Street, Farmington. Burial will follow at Riverside Cemetery, Farmington. In lieu of flowers, please make donations in Mariann's memory to Memorial Sloan-Kettering Cancer Center, P.O. Box 27106, New York, NY 10087-7106 www.mskcc.org for breast cancer research.
Dubin, Anthony Martin
Anthony Martin Dubin, 63, of Hartford, passed away unexpectedly Friday, June 7th. Born in Hartford, October 31st, 1949, son of the late John Paul and Agnes (Casmanaitis) Dubin. He attended Holy Trinity Grammar School and South Catholic High, both in Hartford and was a graduate of the University of Hartford, School of Arts. Anthony was employed at the UConn Health Center and at the Southington Water Department. He loved art, reciting poetry and his family. Anthony is survived by his four children, Joy Bonneau of New Paltz, NY, Jared Dubin of Brooklyn, NY, Keith Dubin and Timothy Dubin both of Southington, his two sisters Mary Ann Dubin of Farmington and Joan P. Steinen of Philadelphia, PA, his two nieces, Karyn Giannotti and Tonya Steinen, his nephew Jonathan Steinen and his wife Kaitlin and many cousins. Friends may call at the Church of St. Mary Star of the Sea, Unionville on Friday (June 14) from 9:30-10:45am followed by the Funeral Liturgy at 11:00am. Burial will be in Mt. St. Benedict Cemetery, Bloomfield. In lieu of flowers, memorial contributions may be made to NAMI Connecticut, 576 Farmington Ave., Hartford, CT 06105.
Spagna, Carmela
Carmela R. (LaBruna) Spagna passed away peacefully at home with family by her side on Saturday, June 8, 2013. Born October 30, 1919 in Hartford, she was the daughter of the late Joseph and Rose (Cima) LaBruna. She leaves two children, Patricia and her husband Joseph Petrone and Joseph Spagna and his wife Marjorie, five grandchildren, Mark and Christopher Petrone, Andrea Gudauskas, Jennifer Kaminski, Jill Lefebvre and eight great grandchildren. She grew up in Hartford and lived in East Hartford, Southington and Farmington. Prior to her retirement she worked for the Connecticut Department of Labor. She was a proud and caring mother who loved unconditionally, enjoyed visits from her grandchildren and great grandchildren and enjoyed sharing her love of life with them. She was a naturally artistic and creative individual who unselfishly shared her art with family and friends. She was also a talented seamstress whose handcrafted curtains still adorn the homes of her children and grandchildren. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Wednesday (June 12) from 4:00-7:00 p.m. Funeral procession from The Ahern Funeral Home will be Thursday (June 13) at 9:15am followed by a Mass of Christian Burial at 10:00 a.m. in the Church of Saint Patrick, 110 Main St., Farmington. Burial will be in Mt. St. Benedict Cemetery, 1 Cottage Grove Road, Bloomfield. Memorial donations may be made in her name to Our Companions, Domestic Animal Sanctuary, PO Box 673, Bloomfield CT, 06022.
Freiday, Jay Horl
By AhernFH on June 7, 2013
Jay Hörl Freiday passed away peacefully at 103 on June 5, 2013. Mr. Freiday was predeceased by his wife Marian Merquelin Freiday. A longtime member of the community Mr. Freiday enjoyed a very full and rich life. Born in East Orange, New Jersey on December 23, 1909, he found a passion in painting during his High School years. His hobby began as a cartoonist and he evolved into a well-revered artist of watercolors. Best known for his depictions of covered bridges, Mr. Freiday painted over 200 scenes of New England. Painting was his passion, but his career and interests took many turns. He graduated Lehigh University in 1932 with a degree in Mechanical Engineering and after serving in the Navy as a Lieutenant during World War II, began a career with Combustion Engineering/Alstom in New Jersey and Connecticut. During his career with Combustion Engineering he developed multiple patents in power systems design and traveled extensively thought Europe and Asia. He retired in 1974. Hörl often said that the word retirement was not in his vocabulary. His retirement was just a prelude to his main objective – traveling and seeing the world. A life-long member of the Simsbury Ski Club, he skied worldwide and he considered skiing Mt. Blanc a high point in his life since he was able to combine his adventure with his love of photography. At 87 he gave up downhill skiing in favor of the more subdued cross country skiing. Always making community a top priority, Hörl and his wife, Marian, were ardent supporters for the Connecticut Opera, Hartford Ballet, Hartford Symphony Orchestra and The Mark Twain House where he was their photographer emeritus for many years.
Hörl will be missed by his children, Maryellen Masot of Plainville, Franklin John and Darnell Securcher of Wake Forest, NC; his grandchildren, David and Joan Masot of Plainville, Christine and Craig Petosa of Plainville, John Scott Securcher of Avon, Patrick and Jaclyn Securcher of Raleigh, NC, Christopher Securcher of Charlotte, NC and his four great-grandchildren, Kyle and Zachary Petosa of Plainville and Mattox and Macon Securcher of Raleigh, NC. Interment was held Saturday, June 8, 2013 at West Avon Cemetery in Avon. Memorial donations can be made to the USO, 2111 Wilson Blvd., Suite 1200, Arlington, VA 22201 or the Wounded Warriors Project, P.O. Box 758517, Topeka, KS 66675.
Stergos, Beverly Ford
Beverly Ford Stergos, 71, of Farmington, died unexpectedly June 6, 2013. She was born to the late Ralph and Vera Ford on April 21, 1941 in Waterville, ME. Beverly graduated from Skowhegan High School, Skowhegan, ME and received a bachelor of general studies from the University of Connecticut in 2001. She is survived by her loving husband Chris Stergos of Farmington; her daughters, Melissa Caouette and Joanne Stergos, both of Farmington and her son Peter Stergos and his wife Tsambika Stergos of Burlington; she is YiaYia to six precious grandchildren Hunter (13), Anastasia (13), Cody (11), Christos (8), Savvas (8) and Isabella (3); her brother Ralph Ford, Jr. and his wife Avis of Mars Hill, ME; sister Anna Rafferty and her husband Joe of Turner, ME; her sister-in-law Ioanna Stergos of Plomari, Greece. She is also survived by many special cousins, nieces, nephews and godchildren. All of her children know secretly that they are their mother's favorite. Her grandchildren also felt her never ending love. She spent every moment she could with them. Among her many interests she loved reading, gardening, spending time with her family, entertaining and finding a great treasure at a tag sale. Plants from her garden will live on in friends and family's gardens from New Jersey to Maine. She was the centerpiece of the family. Beverly spent much of her time traveling with her husband, seeing her children and most of all grandmothering her much loved grandchildren and attending all their sports events and other activities. This beautiful woman will be remembered and missed by everyone that loved and knew her.
Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Monday (June 10) from 4:00-8:00pm. Funeral services will be held on Tuesday, June 11th at 10:30 am, St. Demetrios Greek Orthodox Church, 31 Brightwood Road, Bristol. Burial will be at Riverside Cemetery, 160 Garden Street, Farmington.
Stevens, Donald W.
Donald Winston Stevens, 85, of Unionville, beloved husband of Margaret "Peggy" (Marek) Stevens, passed away peacefully Tuesday, June 4th. Born August 16th, 1927 in Kingston Township, PA, son of the late Myrl B. and Lydia (Pearce) Stevens. Donald attended F.L. Garrison Memorial School in Shickshinny, PA and was drafted into the United States Marine Corps in 1945. He spent most of his service in the South Pacific. Donald received a World War II Victory Medal and the Asiatic Pacific Campaign Ribbon. After his military service, Donald attended Porter School of Design and was employed as a Tool and Die Maker with Skinner Valve, now known as Honeywell in New Britain for 25 years. Donald received his pilot's license at age 16 and enjoyed flying above the mountains of Pennsylvania. He was an avid gardener and hunter. His favorite time of year was the fall and enjoyed many camping trips with Peg in Vermont. He also enjoyed spending time with his children and grandchildren. Besides his wife, Donald is survived by his three daughters and their husbands, Linda and Christopher W. Caprara of Winthrop, ME; Donna and Joseph P. Fialkievicz of Canton and Susan and Michael Lombardi of Watertown, his two brothers, Myrl "Ted" Stevens and his wife Mary of Berlin and Gary Stevens of Plainville, his two sisters, Norma DeRoches and her husband Joseph of Warwick, RI and Audrey Gasper and her husband Jack of Hebron, and brother-in-law Charles Karanian of New Britain and four grandchildren, Cayla, Benjamin, Michael and Angela, and numerous nieces and nephews and Alan Stevens. He was predeceased by his sister, Lois Karanian and his two brothers, James Stevens and Thomas Stevens. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Friday (June 7) from 6:00-8:00pm. Funeral services will be held in The Ahern Funeral Home on Saturday (June 8) at 10:00am with Rev. Wendell Taylor officiating. Burial with full military honors will be in St. Mary Cemetery, Avon.
Whipple, Walter J.
Walter J. Whipple, 88, of Branford, entered into eternal rest, Sunday, June 2, 2013 at the Masonic Home and Hospital in Wallingford after a long illness. Born in Farmington, November 11, 1924, he was the son of the late Walter W. and Caroline Whipple. He lived in Avon for most of his life. In the early 1950's he started a plumbing and heating business that his son has continued on. After retiring at 70, he and his wife left Avon to spend many years in Englewood, Florida, returning to be with family every summer in Indian Neck, Branford. He enjoyed sailing, both on Long Island Sound and Florida. He was a member of Masonic Evening Star Lodge 101 for over 60 year, serving as Master in 1958. He was also a Scottish Rite and 32nd Degree Mason. He was a longtime member of the Unionville Lions Club. He was a former member for many years of the First Congregational Church in Unionville. He was predeceased by his wife, Harriet (Haworth) Whipple, of over 63 years. He leaves three children, Deborah and her husband Robert Hartenstein of Meriden, Walter C. and his predeceased wife Nancy Whipple of Burlington, and Jeffrey and his wife Diane Whipple of Durham. In addition, he leaves seven grandchildren, William and Keith Hartenstein, Candace Farnsworth, Laurie Killiany, Jason Whipple, Dean and Taylor Whipple, and 12 great grandchildren. Walter also leaves a sister Bernice Camp of Venice, FL and a brother-in-law Arthur Haworth of Farmington. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Thursday (June 6) from 6:00-8:00pm with a Masonic Service at 7:00pm. Funeral services will be held Friday (June 7) at 11:00am in The Ahern Funeral Home with Rev. Wendell Taylor officiating. Burial will be private at Riverside Cemetery, Farmington. Memorial contributions may be made to the Masonicare Annual Appeal, c/o The Masonic Charity Foundation of CT, P.O. Box 70, Wallingford, CT 06492 or to the Masonic Building Association Memorial Fund, 22 Main St., Unionville, CT 06085.
O'Connell, Lucille K.
Lucille Kennedy O'Connell, wife of Neil O'Connell, of Unionville died on Sunday, June 2, 2013. Born in Hartford, May 13, 1939, she was the youngest child of Maurice J. and Margaret O'Brien Kennedy. She was also a forty year resident of Black Point. Lucille graduated from Mount St. Joseph Academy and Hartford Secretarial School. She was employed by the Farmington Public Library for over 35 years. Lucille leaves her son, Matthew Jude O'Connell and his wife Elizabeth Connors O'Connell of Harwinton, daughter Susan Elizabeth O'Connell and husband Stephan Thomas Jaeger of Old Greenwich, and daughter Julie Ann Burke, Gregory Francis Burke of Unionville. She leaves six grandchildren: Thomas Connors O'Connell, Mary Kennedy O'Connell, Colleen Sullivan O'Connell, Sophie Elizabeth Jaeger, James Dennis Burke and Connor Kennedy Burke. She is survived by one brother, Jerome Kennedy and his wife Charlotte of West Hartford, her sisters Margaret Samolyk and her husband Edward of Windsor and Eleanore DeMaio of Milton, Massachusetts. She was predeceased by six brothers: Lt. Col. Maurice Kennedy, Richard Kennedy, John David Kennedy, Philip J. Kennedy, Justin P. Kennedy and Ralph C. Kennedy. She is also survived by her brother and sister-in-law George and Susan O'Connell of East Hartford and their children. She also leaves 44 nieces and nephews. She leaves her best friend Verna. Friends may call at The Ahern Funeral Home, 111 Main St., Rt. 4, Unionville on Wednesday (June 5) from 5:00-7:00pm. The Funeral Liturgy will be celebrated Thursday (June 6) at 10:00am in the Church of St. Mary Star of the Sea, Unionville followed by burial in St. Mary Cemetery, Avon. In lieu of flowers, memorial contributions may be made to St. Justin's Church, 230 Blue Hills Ave., Hartford, CT 06112.


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MCBC Holdings, Inc. Reports Fiscal 2018 Fourth Quarter and Full-Year Results
Company Delivers Strong Top- and Bottom-line Gains
VONORE, Tenn., Sept. 06, 2018 (GLOBE NEWSWIRE) -- MCBC Holdings, Inc. (NASDAQ: MCFT), the parent entity of MasterCraft Boat Company, LLC ("MasterCraft"), and NauticStar, LLC ("NauticStar"), today announced financial results for its fiscal 2018 fourth quarter and full year ended June 30, 2018.
Net sales for the fourth quarter increased to $95.4 million, up 63.6 percent from $58.3 million in the prior-year period due to improvements in MasterCraft's core business and the inclusion of NauticStar. Net sales for the fiscal year rose to $332.7 million, up from $228.6 million.
Gross profit for the fourth quarter increased to $27.9 million, a 69.5 percent gain from $16.5 million in the prior-year period. Gross profit for the fiscal year rose to $90.4 million, up from $63.5 million.
Fourth quarter gross margin grew 100 basis points to 29.2 percent, from 28.2 percent in the prior-year period. MasterCraft's standalone margin increase, mainly from a favorable product mix, was partially offset by the inclusion of NauticStar. Fiscal year gross margin decreased 60 basis points, primarily due to the impact of NauticStar.
Net income totaled $13.1 million for the 2018 fourth quarter, a gain of $6.8 million, or 108.1 percent, from the prior-year period. Fiscal year net income rose $20.1 million to $39.7 million.
Fourth quarter diluted earnings per share increased by $0.36, or 105.9 percent to $0.70, up from $0.34 in the prior-year period. Fiscal year diluted earnings per share grew to $2.12, versus $1.05 in fiscal 2017.
Adjusted EBITDA, a non-GAAP measure, increased 71.9 percent to $19.8 million from $11.5 million in the prior-year fourth quarter. Fiscal year Adjusted EBITDA rose to $64.0 million from $43.5 million.
Adjusted EBITDA margin, a non-GAAP measure, rose 100 basis points to 20.8 percent, from 19.8 percent in the prior-year fourth quarter. Adjusted EBITDA margin for the fiscal year increased 20 basis points to 19.2 percent, from 19.0 percent.
Fourth quarter fully diluted Adjusted Net Income per share, a non-GAAP measure, grew $0.31, an 88.6 percent increase, to $0.66, up from $0.35 in the prior-year period. Fiscal year 2018 fully diluted Adjusted Net Income per share increased $0.79, to $2.09, versus $1.30 in fiscal 2017.
During the year, the company's strong cash flow enabled debt repayments of $39.3 million, which represents almost half of the $80 million borrowed for the purchase of NauticStar.
Terry McNew, MCBC Holdings, Inc. President and Chief Executive Officer, commented, "We ended fiscal 2018 delivering record sales and net income for both the fourth quarter and fiscal year. Continued growth in retail demand and our unwavering focus on operational efficiency drove results. Moreover, our strong cash management practices enabled us to significantly reduce our total debt."
Fourth Quarter Results
Net sales for the fourth quarter ended June 30, 2018 rose 63.6 percent, or $37.1 million, to $95.4 million, compared to $58.3 million for the year ago fourth quarter. The inclusion of NauticStar represented $21.7 million, or 37.1 percent, of the increase while MasterCraft grew $15.4 million, or 26.5 percent. The MasterCraft increase stemmed from an increase in sales volume, favorable product mix and price increases.
Fourth quarter gross profit increased $11.4 million, or 69.5 percent, to $27.9 million, compared to $16.5 million for the prior-year period. MasterCraft contributed $7.6 million of the increase primarily due to growth in MasterCraft unit sales volume, a favorable product mix, lower warranty costs and reduced retail rebate activity. The inclusion of NauticStar contributed $3.8 million to the increase in gross profit. Gross margin increased to 29.2 percent for the fiscal fourth quarter, compared to 28.2 percent for the year earlier fourth quarter.
Said McNew, "Retail activity with regard to MasterCraft strengthened throughout fiscal 2018, resulting in improved dealer inventory turns and the largest June retail sales in MasterCraft's history. This sets the stage for continuing healthy dealer inventory levels and activity in fiscal 2019. At NauticStar we have added nearly 20 dealer locations since the beginning of calendar year 2018 and are excited about driving growth and looking forward to working with our strong dealer network to maximize their opportunities over the coming year."
Selling and marketing expense increased $0.8 million, or 38.0 percent, to $3.0 million for the fourth quarter ended June 30, 2018, compared to $2.2 million for the year earlier period. This increase resulted mainly from the inclusion of NauticStar, which added $0.6 million in selling and marketing expenses.
Fourth quarter general and administrative expense increased by $1.7 million, or 46.9 percent, to $5.4 million, compared to $3.7 million for the prior-year period. This increase resulted mainly from the inclusion of NauticStar, a litigation settlement charge, startup costs for a new brand in a different boat segment and higher compensation costs. General and administrative expense, as a percentage of net sales, decreased by 70 basis points to 5.6 percent, compared to 6.3 percent for the prior-year period. This favorable impact resulted from leverage experienced through significant net sales increases compared to lower increases in general and administrative expenses.
Fourth quarter net income totaled $13.1 million, versus $6.3 million for the year-earlier period driven by the inclusion of NauticStar, lower warranty costs, reduced retail rebate activity and reduced tax rates from the enactment of the Tax Cuts and Jobs Act. Adjusted Net Income of $12.4 million, or $0.66 per share, on a fully diluted, weighted average share count of 18.8 million shares, was computed using the company's estimated annual effective tax rate of approximately 29 percent. This compares to Adjusted Net Income of $6.5 million, or $0.35 per fully diluted share, in the prior-year period. Due to the Tax Cuts and Jobs Act, MasterCraft's annual effective tax rate for fiscal 2019 is expected to decline to approximately 24 percent.
Adjusted EBITDA was $19.8 million for the fourth quarter, compared to $11.5 million in the prior-year period. Adjusted EBITDA margin was 20.8 percent, up from 19.8 percent in the fiscal 2017 fourth quarter. See "Non-GAAP Measures" below for a reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Income to the most directly comparable financial measures presented in accordance with GAAP.
Fiscal 2018 Results
Net sales for the fiscal year increased 45.5 percent, or $104.1 million, to $332.7 million from $228.6 million in the prior year. The inclusion of NauticStar represented $66.4 million, or 29.0 percent, of the increase while MasterCraft grew $37.7 million, or 16.5 percent. The MasterCraft increase stemmed from an increase in sales volume, reduced retail rebate activity, favorable product mix and price increases.
Fiscal year gross profit increased $26.9 million, or 42.4 percent, to $90.4 million, compared to $63.5 million for fiscal 2017. MasterCraft contributed $14.6 million to the gain primarily due to growth in MasterCraft unit sales volume, lower warranty costs and reduced retail rebate activity. The inclusion of NauticStar contributed $12.3 million to the increase in gross profit. Gross margin decreased to 27.2 percent for fiscal 2018, versus 27.8 percent for fiscal 2017. The decrease was primarily due to inclusion of the dilutive effect of NauticStar's gross margin.
Selling and marketing expense increased $3.6 million, or 38.7 percent, to $13.0 million for fiscal 2018, compared to $9.4 million for the prior year. This increase resulted from the inclusion of NauticStar, which added $1.9 million in selling and marketing expenses, a rise in dealer meeting and training costs, higher compensation expense and an increase in promotional activities.
General and administrative expense decreased by $0.7 million, or 3.4 percent, to $19.8 million for fiscal 2018, compared to $20.5 million for fiscal 2017. This resulted mainly from a decrease of $5.9 million in patent litigation costs, partially offset by the inclusion of NauticStar, which increased general and administrative expenses by $2.2 million, and $1.7 million increase for costs associated with the NauticStar acquisition and $0.6 million related to startup costs for a new brand in a different boat segment. General and administrative expense, as a percentage of net sales, decreased by 310 basis points to 5.9 percent, compared to 9.0 percent for the prior-year period.
Net income totaled $39.7 million for the fiscal year, up from $19.6 million in fiscal 2017, which was driven by the inclusion of NauticStar, reduced retail rebate activity, lower warranty costs and reduced tax rates from the enactment of the Tax Cuts and Jobs Act. Adjusted Net Income totaled $39.4 million, or $2.09 per share, for fiscal 2018, on a fully diluted, weighted average share count of 18.8 million shares, and was computed using the company's estimated normalized annual effective tax rate of approximately 29 percent. This compares with Adjusted Net Income of $24.3 million, or $1.30 per share, in fiscal 2017.
Fiscal year 2018 Adjusted EBITDA was $64.0 million, compared to $43.5 million in fiscal 2017. Adjusted EBITDA margin was 19.2 percent, up from 19.0 percent in the prior year. See "Non-GAAP Measures" below for a reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Income to the most directly comparable financial measures presented in accordance with GAAP.
Market Milestones
NauticStar
Said McNew, "We're nearing our one-year anniversary of welcoming NauticStar to the MasterCraft family. In that time, we've leveraged our industry-leading strengths in operational excellence and financial management to further improve NauticStar's output, quality and margin. Daily production volume is up and we've made strides in improving both safety and quality. In fiscal 2019, we look forward to building on the operational and financial improvements begun over the past nine months, while executing additional dealer network expansion and new product development strategies to drive further market share in the high-growth fiberglass outboard category."
Since the beginning of our fiscal 2018 year, we have continued to be at the forefront of product introductions and innovation in the performance sport boat category, as exemplified by our recent introduction of the X24 model, and our previously released XT25, XStar, and XT22 models. MasterCraft engineers put surf science into motion with the X24, starting with a new surf-specific hull design that, when equipped with up to 4,300 lbs. of ballast and the Gen 2 Surf System, creates the industry's largest wake that is perfectly sculpted and customized through MasterCraft technology.
New wake-specific technologies work in concert on the X24 to operationally speed up the boat's wake-specific functions. A premium 2018 feature, the new FastFill Ballast System, speeds time to towing by filling the X24's ballast tanks in under three minutes. Once full, the X24 debuts the new Switchback Ballast Tank that instantly shifts ballast from side-to-side to suit the rider's preference.
The X24 has room for 18 passengers and was thoughtfully designed with new surf-friendly storage features that allow friends and families to have more people, gear and fun on the water. The X24's Pickle Fork bow and U-shaped seating layout create a spacious and comfortable configuration for spectating and lounging. Optional transom lounge and reserve seating scenarios create more options for owners to customize their interior. Storage on the X24 is considerable at 106 cubic feet, including storage compartments above the ballast tanks.
"With the X23 and iconic XStar setting the bar for wakeboarding, surf and performance, it was tough to outdo ourselves. But we delivered," said McNew. "With the new X24, we've created an exceptional wakesurfing experience while providing the ultimate in on-the-water durability, reliability and performance."
Said McNew, "Financially, operationally and on the new product development front, we delivered strong performance in fiscal 2018, which gives us confidence in our ability to execute again in fiscal 2019. Looking ahead, we remain steadfast in our strategy of driving sustainable, profitable growth through the development of new and innovative products, strengthening our dealer network, driving margin expansion through operational excellence and capturing additional market share from adjacent boating categories, both organically and through acquisitions."
For full fiscal year-end June 30, 2019 guidance, MCBC Holdings now expects net sales percentage growth to be up in the low- teens. Adjusted EBITDA margins are expected to be in the mid-18 percent range. Adjusted EPS is expected to grow in the high-teens. The guidance above is adjusted for startup costs of approximately $2.5 million associated with a completely new boat brand in a segment of the market neither MasterCraft nor NauticStar currently serves.
For the first fiscal quarter ending in September net sales percentage growth is expected to be in the high thirty percent range with Adjusted EBITDA margins in the mid-sixteen percent range. Adjusted EPS percentage growth is expected to be in the mid-teens. Recall NauticStar was acquired during our fiscal second quarter last year.
Conference Call and Webcast Information
MCBC Holdings, Inc. will host a live conference call and webcast to discuss fiscal Fourth quarter results today, September 6, 2018, at 5:00 p.m. ET. To access the call, dial (800) 219-6861 (domestic) or (574) 990-1024 (international) and provide the operator with the conference ID 9893806. Please dial in at least 10 minutes prior to the call. To access the live webcast, go to the investor section of the company's website, www.mastercraft.com, on the day of the conference call and click on the webcast icon.
For an audio replay of the conference call, dial (855) 859-2056 (domestic) or (404) 537-3406 (international) and enter audience passcode 9893806. The audio replay will be available beginning at 8 p.m. ET on Thursday, September 6, 2018, through 11:59 p.m. ET on Thursday, September 20, 2018.
About MCBC Holdings, Inc.
Headquartered in Vonore, Tenn., MCBC Holdings, Inc. (NASDAQ: MCFT) is the parent entity of MasterCraft and NauticStar.
About MasterCraft
MasterCraft is a world-renowned innovator, designer, manufacturer and marketer of premium performance sport boats. Founded in 1968, the company has cultivated its iconic brand image through a rich history of industry-leading innovation, and more than four decades after the original MasterCraft made its debut the company's goal remains the same – to continue building the world's best ski, wakeboard, wakesurf and luxury performance powerboats. For more information, visit www.mastercraft.com.
About NauticStar
Founded in 2002, NauticStar is located on 17 acres in Amory, Mississippi. With more than 200,000 square feet of manufacturing floor space, NauticStar is one of the top producers of high quality bay boats, deck boats and offshore center console boats from 18 to 28 feet. Professional and sport fishermen, recreational and pleasure boating enthusiasts appreciate the many standard and available features that are offered by NauticStar for a customized fit for their lifestyle. For more information on NauticStar, visit www.NauticStarBoats.com.
This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can often be identified by such words and phrases as "believes," "anticipates," "expects," "intends," "estimates," "may," "will," "should," "continue" and similar expressions, comparable terminology or the negative thereof, and include statements in this press release concerning an exciting pipeline of launches; our ability to continue our operating momentum, capture additional market share and deliver continued growth; expectations regarding driving margin expansion, sales increases and organic growth; our fiscal 2019 outlook and key growth initiatives; the anticipated impact of the Tax Cuts and Jobs Act; and our anticipated financial performance for fiscal 2019.
Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including general economic conditions, demand for our products, changes in consumer preferences, competition within our industry, our reliance on our network of independent dealers, our ability to manage our manufacturing levels and our large fixed cost base, the successful integration of NauticStar, LLC into our business, recent changes to U.S. federal income tax law, the overall impact and interpretation of which remain uncertain, and the successful introduction of our new products. These and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2017, filed with the Securities and Exchange Commission (the "SEC") on September 7, 2017, in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 1, 2017, filed with the SEC on November 13, 2017 and our other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements. The discussion of these risks is specifically incorporated by reference into this press release.
Any such forward-looking statements represent management's estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We undertake no obligation (and we expressly disclaim any obligation) to update or supplement any forward-looking statements that may become untrue or cause our views to change, whether because of new information, future events, changes in assumptions or otherwise. Comparison of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.
To supplement MasterCraft's condensed consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP), the company uses certain non-GAAP financial measures in this release. Reconciliations of the non-GAAP financial measures used in this release to the most comparable U.S. GAAP measures for the respective periods can be found in tables immediately following the condensed consolidated statements of operations. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for MasterCraft's financial results prepared in accordance with GAAP.
Tim Oxley
Tim.Oxley@mastercraft.com
Matt Sullivan
Matt.Sullivan@padillaco.com
Results of Operations for the Fourth Quarter and Fiscal Year Ended June 30, 2018
MCBC HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Dollars in thousands, except share and per share data)
Fourth Quarter Ended Fiscal Year Ended
June 30, June 30, June 30, June 30,
Net sales $ 95,430 $ 58,325 $ 332,725 $ 228,634
Cost of sales 67,545 41,869 242,361 165,158
Gross profit 27,885 16,456 90,364 63,476
Selling and marketing 3,042 2,204 13,011 9,380
Amortization of intangible assets 520 27 1,597 107
Total operating expenses 8,947 5,897 34,381 29,961
Operating income 18,938 10,559 55,983 33,515
Interest expense 947 538 3,474 2,222
Income before income tax expense 17,991 10,021 52,509 31,293
Income tax expense 4,847 3,706 12,856 11,723
Net income $ 13,144 $ 6,315 $ 39,653 $ 19,570
Earnings per common share:
Basic $ 0.71 $ 0.34 $ 2.13 $ 1.05
Diluted $ 0.70 $ 0.34 $ 2.12 $ 1.05
Weighted average shares used for computation of:
Basic earnings per share 18,622,154 18,593,501 18,619,793 18,592,885
Diluted earnings per share 18,740,723 18,659,246 18,714,531 18,620,708
June 30, June 30,
Cash and cash equivalents $ 7,909 $ 4,038
Accounts receivable — net of allowances of $51 and $82, respectively 5,515 3,500
Inventories — net 20,467 11,676
Property, plant and equipment — net 22,265 14,827
Intangible assets — net 51,046 16,643
Deferred debt issuance costs — net 383 481
Other 252 125
Total assets $ 176,924 $ 83,321
Income tax payable 705 780
Accrued expenses and other current liabilities 27,866 21,410
Current portion of long term debt, net of unamortized debt issuance costs 5,069 3,687
Long term debt, net of unamortized debt issuance costs 70,087 30,790
Deferred income taxes 1,427 953
Unrecognized tax positions 1,982 2,932
Total liabilities 124,402 71,560
Common stock, $.01 par value per share — authorized, 100,000,000 shares; issued and outstanding, 18,682,338 shares at June 30, 2018 and 18,637,445 shares at June 30, 2017 187 186
Accumulated deficit (61,717 ) (101,370 )
Total stockholders' equity 52,522 11,761
Total liabilities and stockholders' equity $ 176,924 $ 83,321
Supplemental Operating Data
The following table sets forth certain supplemental operating data for the periods indicated:
June 30, June 30, % June 30, June 30, %
2018 2017 Variance 2018 2017 Variance
Unit volume:
MasterCraft 814 700 16.3 % 3,068 2,790 10.0 %
NauticStar 533 — 1,687 —
MasterCraft sales $ 73,774 $ 58,325 26.5 % $ 266,319 $ 228,634 16.5 %
NauticStar sales $ 21,656 $ — $ 66,406 $ —
Consolidated sales $ 95,430 $ 58,325 63.6 % $ 332,725 $ 228,634 45.5 %
Per Unit:
MasterCraft sales $ 91 $ 83 8.8 % $ 87 $ 82 5.9 %
NauticStar sales $ 41 $ — $ 39 $ —
Consolidated sales $ 71 $ 83 (15.0 ) % $ 70 $ 82 (14.6 ) %
Gross margin 29.2 % 28.2 % 27.2 % 27.8 %
Non-GAAP Measures
We define EBITDA as earnings before interest expense, income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA further adjusted to eliminate certain non-cash charges and other items that we do not consider to be indicative of our ongoing operations, including fees and expenses associated with our follow-on offering, transaction expenses associated with the acquisition of NauticStar, acquisition related inventory step up adjustment, our stock-based compensation, out-of-period adjustment to correct of an immaterial error related to our warranty reserve and new brand startup costs. We define Adjusted Net Income as net income adjusted to eliminate certain non-cash charges and other items that we do not consider to be indicative of our ongoing operations, including fees and expenses associated with our follow-on offering, transaction expenses associated with the acquisition of NauticStar, acquisition related inventory step up adjustment, our stock-based compensation, out-of-period adjustment to correct of an immaterial error related to our warranty reserve, new brand startup costs and an adjustment for income tax expense at a normalized annual effective tax rate. We define Adjusted EBITDA margin as Adjusted EBITDA expressed as a percentage of net sales. Adjusted EBITDA, Adjusted Net Income and Adjusted EBITDA margin are not measures of net income or operating income as determined under accounting principles generally accepted in the United States, which we refer to as GAAP. Adjusted EBITDA and Adjusted Net Income are not measures of performance in accordance with GAAP and should not be considered as an alternative to net income or operating cash flows determined in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of cash flow for management's discretionary use. We believe that the inclusion of EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Income is appropriate to provide additional information to investors because securities analysts, noteholders and other investors use these non-GAAP financial measures to assess our operating performance across periods on a consistent basis and to evaluate the relative risk of an investment in our securities. We use Adjusted Net Income to facilitate a comparison of our operating performance on a consistent basis from period to period that, when viewed in combination with our results prepared in accordance with GAAP, provides a more complete understanding of factors and trends affecting our business than GAAP alone measures. We believe Adjusted Net Income assists our board of directors, management and investors in comparing our net income on a consistent basis from period to period because it removes non-cash items and items not indicative of our ongoing operations. Adjusted EBITDA and Adjusted Net Income have limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are:
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements;
Adjusted EBITDA does not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments;
Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
Adjusted EBITDA does not reflect our tax expense or any cash requirements to pay income taxes;
Adjusted EBITDA does not reflect interest expense, or the cash requirements necessary to service interest payments on our indebtedness; and
Adjusted Net Income and Adjusted EBITDA do not reflect the impact of earnings or charges resulting from matters we do not consider to be indicative of our ongoing operations but may nonetheless have a material impact on our results of operations.
In addition, because not all companies use identical calculations, our presentation of Adjusted EBITDA and Adjusted Net Income may not be comparable to similarly titled measures of other companies, including companies in our industry.
Furthermore, certain non-GAAP financial measures presented in this release have been provided for comparison purposes only and these non-GAAP financial measures may change in the future based on our calculations and forecasts regarding the interpretation of certain recent changes to U.S. federal income tax law and anticipated impacts on our financial results.
The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA for the periods indicated:
Depreciation and amortization 1,421 789 5,086 3,231
EBITDA 20,359 11,348 61,069 36,746
Transaction expense(a) 11 8 1,744 71
Inventory step-up adjustment – acquisition related(b) — — 501 —
Litigation charge(c) — — — 5,948
Warranty adjustment(d) (1,033 ) — (1,033 ) —
New brand startup costs(e) 204 — 561 —
Stock-based compensation 305 191 1,186 711
Adjusted EBITDA $ 19,846 $ 11,547 $ 64,028 $ 43,476
Adjusted EBITDA margin(f) 20.8 % 19.8 % 19.2 % 19.0 %
(a) Represents fees, expenses and integration costs associated with our acquisition of NauticStar and our follow-on offering and secondary offering in the prior-year period.
(b) Represents post-acquisition adjustment to cost of goods sold for the fair value step up of inventory acquired all of which was sold during the second quarter of fiscal 2018.
(c) Represents legal and advisory fees for our litigation with Malibu Boats, LLC for fiscal 2017, which includes settling the Malibu patent case.
(d) Represents an out-of-period adjustment to correct an immaterial error related to our warranty accrual calculation identified during the fiscal year ended June 30, 2018.
(e) Represents startup costs associated with a completely new boat brand in a segment of the market neither MasterCraft nor NauticStar serves. For the fiscal year ended June 30, 2018, includes $19, $85 and $253 of charges incurred in the first, second and third quarters of fiscal 2018, respectively.
(f) We define Adjusted EBITDA margin as Adjusted EBITDA expressed as a percentage of net sales.
The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted Net Income for the periods indicated:
(Dollars in thousands, except for share and per share amounts)
Adjusted Net Income before income taxes(f) 17,478 10,220 55,468 38,023
Adjusted income tax expense(g) 5,069 3,679 16,086 13,688
Adjusted Net Income $ 12,409 $ 6,541 $ 39,382 $ 24,335
Pro-forma Adjusted net income per common share
Pro-forma weighted average shares used for the computation of:
Basic Adjusted net income per share(h) 18,639,028 18,611,028 18,625,769 18,597,357
Diluted Adjusted net income per share(h) 18,807,100 18,730,717 18,800,236 18,711,089
(f) Prior periods presented exclude amortization charges for acquired intangible assets incurred during the fourth quarter of fiscal 2018 and the year to date period of $0.5 million and $1.5 million, respectively.
(g) Reflects income tax expense at an estimated annual effective income tax rate of 29% for all current-year periods presented and 36% for all prior-year periods presented. We expect our estimated annual effective income tax rate to be reduced to about 24% for fiscal 2019.
(h) The weighted average shares used for computation of pro-forma diluted earnings per common share gives effect to 42,233 shares of restricted stock awards, 67,134 performance stock units and 58,706 shares for the dilutive effect of stock options. The average of the prior quarters is used for computation of the fiscal year ended periods.
The following table shows the reconciliation of diluted net income per share to diluted Adjusted Net Income per share for the periods presented:
Net income per diluted share $ 0.70 $ 0.34 $ 2.12 $ 1.05
Impact of adjustments:
Income tax expense 0.26 0.20 0.69 0.63
Transaction expense(a) — — 0.09 —
Inventory step-up adjustment – acquisition related(b) — — 0.03 —
Litigation charge(c) — — — 0.32
Warranty adjustment(d) (0.06 ) — (0.06 ) —
New brand startup costs(e) 0.01 — 0.03 —
Stock-based compensation 0.02 0.01 0.06 0.04
Net income per diluted share before income taxes(f) 0.93 0.55 2.96 2.04
Impact of adjusted income tax expense on net income per diluted share before income taxes(g) (0.27 ) (0.20 ) (0.86 ) (0.73 )
Impact of increased share count(h) — — (0.01 ) (0.01 )
Adjusted Net Income per diluted pro-forma weighted average share 0.66 0.35 2.09 1.30
(h) Reflects impact of increased share counts giving effect to the exchange of all restricted stock awards, the vesting of all performance stock units and for the dilutive effect of stock options included in outstanding shares.
Source: MCBC Holdings, Inc.
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Home Arts, Culture Culture
BBMA recipients receive their Métis Sashes with pride and joy
TOPICS:BBMABelcourt Brosseau Metis AwardsMetis scholarships
Shaeley Douglas, Sienna Dextrase and Tailynn Mennie were three of the 2019 BBMA Sash recipients honoured at this year's Awards Ceremony.
by Theresa Majeran
Back row: Orval Belcourt, Barry Belcourt, Harold Robinson, Georges Brosseau and Katahryn Brosseau. Front row: Brenda Bourque-Stratichuk and Lisa Weber.
(ANNews) – On Saturday, September 21, 2019 the Belcourt Brosseau Métis Awards (BBMA) initiative celebrated another consecutive year designed to honour and celebrates achieving and deserving Métis students on the path of their educational journeys.
The Belcourt Brosseau Métis Awards program began in 2001 with a $13 million donation from Métis entrepreneurs and philanthropists Georges R. Brosseau Q.C., Orval Belcourt and Dr. Herb Belcourt. The trio founded the awards program to support the educational dreams of Métis youth and mature students in Alberta. Since the inception of this fund more than 2000 awards have been granted providing funding for the cost of tuition.
BBMA Alumni Christie Ladouceur (BBMA 2010) vintage and Fred Keating co-emceed the event. Guests were greeted by fiddler Caleb Hunt; Brianna Lizotte BBMA recipient and Colton Bear joined in on guitar. More than 400 guests gathered to celebrate the achievements of BBMA and this year's attending Sash Ceremony recipients.
The evening opened up with fiddlers Daniel Gervais, Alex Kusturok, Brianna Lizotte and Colton Bear providing the ambiance followed by the singing of both the Canadian and Métis anthems by well-known vocalist Sarah Wolfe a 2019 Sash recipient.
The crowd was treated to a new video called "In their own words" where the founders provided an overview of their vision. Founder Georges Brosseau noted that he believes
"it is important that those in the extended Metis family who have knowledge share it, because knowledge is the fire of education and I'd like to see all of those within the family to be able to light their candle against that fire so all can have a brighter future."
Orval Belcourt commented that "the BBMA is a vehicle to help Metis people achieve goals and he hopes they do just that."
Herb Belcourt reminded the students "that the world is in their hands and in the future Canada will be proud of our Native people."
Kathryn Brosseau BBMA panel member then introduced the many special guests, dignitaries, government officials, sponsors and Elders attending the evening event along with an update on the success of the awards program.
"Today," noted Kathryn Brosseau, "we are here to witness first-hand the pride, the success and the camaraderie of the Métis people.
"This evening wold not be possible without the support and hard work of everyone involved – the founders, the donors whose contributions to our endowment fund help to financially support their need to pursue post-secondary education and fulfil their dreams of a successful life. This year we are able to support about 197 students with approximately $660,000 this year alone with a total of 7.9 million being disbursed over 18 years."
She went on thank organizer and communications manager Theresa Majeran and the many volunteers that help to make the annual event special every year and the BBMA Panel Members "who volunteer countless hours to review all of the BBMA applications and manage the tasks that support and guide the BBMA program." Kathryn introduced Martin Garber-Conrad from Edmonton Community Foundation as "one of our most important partners and excellent stewards of the endowment fund."
Martin offered his welcoming comment and spoke about the Foundation's goal to provide lasting solutions to a variety of issues in our communities. He congratulated the recipients in the room and talked about careers and "connections with your heritage and with new friends; your hard work has results for you and your community.
"The numbers of students assisted by the BBMA and the dollars awarded are indeed impressive but the real power of BBMA is the change in individuals – their pride, their opportunities, and their connection to their culture. BBMA helps to create opportunities for cultural recovery, reclaiming pride and for personal, community and economic development."
Before the sash ceremony began, BBMA Alumni and Sash story teller Matt Hiltermann shared some thoughts regarding the history and meaning of the Métis sash.
Matt Hiltermann
In his words, "it is one of the things that symbolize Métis; not only does the sash as a whole represent us as a people, but each color carries a different connotation. Red and white are always side by side to represent our ancestors first nations and European peoples, blue and white are side by side to represent our flag, green and yellow are also side by side to represent our homelands the prairies and the boreal forest, and black represents the dark times for our people where some hid their Métis identity…Past, present and future is woven together forever."
The highlight of the evening – the Sash ceremony was next up with some 62 new award recipients excited and heading to the stage; Elders Phyllis Collins from Elizabeth Métis settlement and Doreen Bergum from Olds presented Métis sashes and BBMA panel members Harold Robinson and Lisa Weber called the students to the stage. As each sash recipient's name was called, the BBMA fiddle orchestra played. At the end of the ceremony the Moms and Poparazzi rushed the stage with pride in their hearts and cell phones in their hands to capture the moment.
The BBMA Alumni speech delivered by Conor Kerr Manager, Indigenous Relations & Supports at NorQuest College, was full of passion and inspiration. He reminded
"The Métis students here tonight are descended from revolutionaries and rebels, strong matriarchal leaders and people who kept culture, language, and most importantly the dream of a better future for generations of Métis people alive."
He said, "Every single word you read in your program, every single essay you write, every single question you answer is a revolution. Because you were not supposed to be here right now. I firmly believe that education is the path to creating a new narrative for Metis People."
Following the alumni speech an outstanding cultural feast was served up including; whole bison roasted and venison sausage by Chef James Hanson and his team at the Edmonton Inn and conference centre. The dinner blessing was provided by Elder Phyllis Collins.
Christine Alexander and Phyllis Collins
Christine Alexander of Fort McMurray, mother of 9 and a grandmother of many offered her perspective as a Sash recipient. Her career had blossomed into a season FNMI Liaison giving advice to students of Indigenous heritage. Christine works in schools with children and families to bring acknowledgment and awareness to boundaries and help families to remove them or learn lessons from them. Christine learned that only 65% of us make it to grade twelve and she knew she wanted to address this by going back to post-secondary herself.
Christine said, "So those fellow recipients that are here today – give yourselves a pat on the back because you have already beaten the odds.
"You will now be change-makers for the generations to come.
"I was continually pushing young people to think big! To go for not just grade 12 but to go for college or university; to be whatever they want to be. I told them to work hard and to live in their best life.
"I watched many kids work through school breaking stigma and getting education. I always had this yearning to go back to school, but I was so scared. I am humbled and cannot thank you enough for believing in me and my dream.
"Going back to school seemed daunting my biggest fear was not being able to afford such an opportunity and with your help these steps are now a reality. I will in the future be able to work more closely and effectively within the community I was raised in."
Her quote from Georges Aramus closed her speech: "You are not responsible for the history of your nation beyond the obligation to study it. It is an inheritance. But you are responsible for what happens in your time, under your watch."
The evening's entertainment continued with a performance by BBMA student Robin Cisek performing her original song called "Waiting on You." She has released a new single in October titled "Concentric" available now for download on Spotify.
The final powerful speech of the night was provided by continuing student Noelle Antonsen enrolled in a Bachelor of Midwifery at Mount Royal University.
Noelle Antonsen
Noelle explained, "I am asked, 'What made you want to become a Midwife?' There was no specific event that made me want to become a midwife, but rather a series of experiences that, when added together, equal Midwifery. Like raindrops in a bucket, I did not notice them add up until the bucket was overflowing.
"When I was a child my grandmother told me of her experiences giving birth. She spoke of how scared she was, how alone she felt, and how she would have been treated differently if she was not a half-breed. Yet she also spoke of a kind nurse at the Calgary Foothills hospital, who held her hand as she gave birth to my father and his twin sister.
"While on placement we need to have a reliable vehicle, purchase medical supplies, relocate every few months to our next placement, and follow the on-call schedule of registered midwives. Due to the costs associated with this, I would be unable to continue in my studies without the help of the Belcourt Brosseau Metis Awards.
"While on placement last winter, and the very first birth I attended was at the Calgary Foothills hospital where I held the hand of a young mother as she gave birth. I thought of my grandmother giving birth to my father at that very same hospital, and I thought of the kind nurse that held her hand.
"I believe it is important that Métis people become educated and proudly share who we are. I am so honored to be included with the other award winners who are doing just that."
To wrap up the evening Elder Doreen Bergum closed the formal event with her prayer, then the kitchen party broke out. The Metis Child and Family jiggers kicked it off along with the fiddlers who provided cultural entertainment all night. A Jigging mob of proud students and their families formed down the aisle of the ballroom to end the night, the energy was very high.
To qualify for these educational awards, applicants need to choose their educational pursuit and meet the overall requirements of the program. Students are selected based on a holistic assessment of a student's financial need, involvement with the Métis community and expression of Métis heritage.
Georges Brosseau told us, "We want to know what their participation has been in the Métis community; they have to show interest in their Metis heritage. We started out with about $13 million and through investments and thanks to the Edmonton Community Foundation's investment we now have about 18.8 million in the endowment fund. This is very positive news and one that ensures that out Métis people with continue to have the opportunity to go to school and to have a successful life.
"Awards are not based on marks alone. The BBMA awards panel is made up of Métis people. We try to provide the opportunity that many of our young students need – what they do with it will determine their future."
"It's an amazing event once again this year, "noted BBMA co-founder Orval Belcourt. We are so very proud of the many young people who are here today to receive their Metis Sash and the recognition they deserve for their dedication to education and for their hard work and achievements. Our young people are becoming better educated as a result of the awards program and their continued success is proof that a little support can go a long way."
Click here to see the group photo from the 2019 BBMA Sash Ceremony, including sash recipients, BBMA leaders and founders.
Culture, Education, Training, Events, John Copley, Metis Rights, News, Role Models, Scholarships
BBMA gala honours deserving Métis students and pays tribute to Herb Belcourt
Business, Gatherings, Housing, John Copley, Metis Rights, News, Role Models, Scholarships
Herb Belcourt receives multiple honours for his contributions to culture, community and country
Education, Training, Events, John Copley, News, Role Models, Scholarships
2018 Belcourt Brosseau Métis scholarship applications are due March 31
Education, Training, John Copley, Metis Rights, News, Role Models, Scholarships
Attention Métis students: BBMA deadline is March 31
Be the first to comment on "BBMA recipients receive their Métis Sashes with pride and joy"


Members of the Security Council at the vote on a resolution on the mandate of the UN Supervision Mission in Syria.
The Security Council today renewed the mandate of United Nations observers tasked with monitoring the cessation of violence in Syria and the full implementation of the international peace plan put forward to end the ongoing crisis.
The Council established UNSMIS in April with an initial 90-day mandate, which expired today.
The Mission had recently suspended its regular patrols due to the escalating violence in the country, where over 10,000 people, mostly civilians, have been killed and tens of thousands displaced since the uprising against President Bashar al-Assad began some 16 months ago.
UNSMIS was tasked with monitoring the cessation of violence in Syria, as well as monitoring and supporting the full implementation of the six-point peace plan put forward by the Joint Special Envoy for the UN and the League of Arab States for the Syrian Crisis, Kofi Annan.
That plan calls for an end to violence, access for humanitarian agencies to provide relief to those in need, the release of detainees, the start of inclusive political dialogue, and unrestricted access to the country for the international media.
Speaking to reporters in Ljubljana, Slovenia, Mr. Ban said that he and the Joint Special Envoy would press ahead to try and end the violence and abuses in Syria.
"We cannot abandon our collective responsibility to enable a peaceful, democratic, Syrian-led transition that meets the legitimate aspirations of the Syrian people," he said.
The UN chief called again on all the parties, starting with the Syrian Government and opposition forces, to stop the killing, and especially the use of heavy weapons against the civilian population.
With fighting now taking place in many parts of Syria, the UN High Commissioner for Human Rights, Navi Pillay, strongly urged all sides to make a huge effort to ensure civilians are not killed or injured.
"Conflict in urban areas is obviously especially dangerous to civilians. And far too many innocent men, women and children have already been killed and injured already, as well as a million displaced," her spokesperson, Rupert Colville, told reporters in Geneva today.
The UN High Commissioner for Refugees, António Guterres, has also expressed his growing concern for the dramatic numbers of people who are fleeing their homes in Syria.
"With the spread of deadly violence, I am gravely concerned for the thousands of Syrian civilians and refugees who have been forced to flee their homes," he stated.
Thousands of Syrians crossed into Lebanon yesterday, the spokesperson for the Office of the UN High Commissioner for Refugees (UNHCR), Melissa Fleming, told a news conference in Geneva, adding that there are various reports claiming that between 8,500 and 30,000 people having crossed in the past 48 hours.
In consultation with government authorities, UNHCR and partners are now in the field verifying numbers and assessing the profile and needs of newly arrived Syrians, with a particular focus on vulnerable people who may need immediate assistance.
According to the agency's registration statistics on 18 July, 120,000 Syrian refugees sought protection in Jordan, Lebanon, Iraq and Turkey. According to Government estimates, the numbers are much higher, noted Ms. Fleming.
United Nations observers who entered the Syrian village of Tremseh on Saturday confirmed that an attack took place there two days ago, involving the use of artillery, mortars and small arms.


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National Guard troops leave US Capitol more than 4 months after January 6th riot
By Natalie Rubino
Capitol Riot
More than 2,000 National Guard troops called in to secure the nation's capital after the January 6th attack are headed home.
WASHINGTON - More than 2,000 National Guard troops called in to secure the nation's capital after the January 6th attack are headed home.
The National Guard left D.C. at midnight Monday. The number of troops guarding the Capitol has decreased as members were sent home every few months.
Download the FOX 5 DC News App for Local Breaking News and Weather
The National Guard was called in following the January 6th riots. Over 25,000 troops were guarding the District on Inauguration Day.
Jamil Jaffer, founder of the George Mason University's National Security Institute has held many national security roles, says now is the right time to remove the troops and begin reopening the Capitol.
NATIONAL GUARD MISSION AT CAPITOL SLATED TO END MAY 23; FENCING TO REMAIN UP: REPORT
"We are at a good stage where we can continue to maintain the safety of the Capitol with the D.C. Metro Police, Capitol Police and Supreme Court Police but of course if there's a need the National Guard is not far."
Jaffer says the January 6h attack has left law enforcement more prepared for future security threats.
National Guard troops leave US Capitol
"Prior to the events of the January 6th insurrection I think people were thinking about international terrorists, perhaps a single shooter that might be a concern. And now we're sort of on alert of Americans becoming violent and attempting to rebel against the United States and against our government," he said.
Last week the House passed a $1.9 billion spending bill that would pay back the National Guard and pay overtime to Capitol Police. The spending plan, which still needs to pass in the Senate would also create a response force that would aid capitol police in emergencies, boost security for members of congress and fortify doors and windows in the Capitol.
12 NATIONAL GUARD MEMBERS REMOVED FROM DC MISSION
Jaffer says the bill will help with security issues but adds the key to preventing something like January 6th from happening again is politicians ending divisive rhetoric.
"From a security standpoint what you really have to do is understand how these things are happening. If it's an overseas terrorist group, you have to take action overseas. If it's a domestic group, you have to understand the concerns and solve for them. To prevent this from happening we can't have a situation where American politicians are calling for or supporting an attack against the government. It's not acceptable and we have to address that very directly," Jaffer said.
The House also voted to authorize a commission to investigate the January 6th attack which Jaffer says is crucial.
"I think the commission is an important thing. I think we need to understand what happened on January 6th. I think it needs to be bipartisan. We need to bring people together, have a conversation, understand the underlying causes and make sure they don't happen again," he said.
The Senate still needs to vote to authorize the commission. However, it's unclear if it will pass, as many Republicans have expressed opposition.
TxDOT offers winter weather driving tips


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Home Dining Up-Down arcade bar opens in the CWE
Up-Down arcade bar opens in the CWE
After a series of delays and an extensive buildout, the entertainment venue opens June 14.
by George Mahe
Photo by George Mahe
Photography by Kevin A. Roberts
Think this game will be popular?
Some said the place would never open. Others said it was a necessity, a catalyst, even a godsend. Regardless, the long-awaited Up-Down STL arcade bar has announced a grand opening date of June 14. The entertainment-based bar and restaurant is located at 405 N. Euclid, in the storied space that previously housed Herbie's Vintage '72 and Balaban's.
General manager Joey Akers reports that the liquor license and occupancy permit (two reasons for delays) were secured yesterday, signaling a weeklong countdown to opening.
Up-Down has locations in Des Moines, Kansas City, Minneapolis, and Milwaukee, and it's been named one of the The 10 Best Arcade Bars In America by Game Informer. The St. Louis outpost measures 8,000 square feet, with two levels and a high-walled back patio.
The first floor has been opened up to accommodate scores of pinball and arcade games, Skee-Ball, and such novelties as giant Jenga. Those who remember the prior interior's footprint—with a bistro/bar that fronted the street, a main bar, a more formal dining room, and a cigar room—likely won't recognize the place. The building was in need of major repairs, inside and out, including the replacement of the signature copper roof.
Black-and-white graphic art spans a mix of arcade-game icons, pop-culture personalities, and references to St. Louis. Games are a quarter, 60 beers are on draft, and a small window sells pizza by the slice and a few sandwiches.
Up-Down features from 60 to 90 cabinet-style games. "We're still adding them," said Joey Akers two days prior to opening.
All games are .25 apiece, but...Thursday is dime token night; on Friday, 20 free tokens are given to the first 100 guests; and on Saturdays, tokens are two-for-one until 9 p.m.
The coolest area, which may get overlooked by many guests, is the lower level, with additional games, another bar, and a more divey, grunge vibe. The rear patio, hidden from the street and partially flanked by sound absorbing walls, has its own bar and bright murals in its brick recesses. All areas have cocktail servers, for those times you just can't leave the game table!
Pete Rothschild, the building's owner, has long thought that a concept like Up-Down could help revitalize the block. He believes the addition of fresher, younger concepts in the neighborhood, such as Salt + Smoke (slated to open nearby later this summer), will not just increase awareness and traffic but inject more energy. "Places like Up-Down will be game changers for the neighborhood," Rothschild predicts. "They bring people, action, and fun...something the area hasn't experienced in quite a while."
A parting thought
Scroll down for more images from SLM staff photographer Kevin A. Roberts.
Up-Down has six Skee-Ball games
...and a dozen pinball games.
Popular console-style Nintendo games from the 80s are represented
...as are plenty of multi-player, joystick games.
Up-Down has three bars: one up, one down, one on the back patio.
Sixty beers are on tap (find the limited releases downstairs) behind a full bar (with high end bottles on display), plus canned wines and batch wines.
Up-Down's food menu is limited, with a focus on pizzas made from scratch-made dough, sold both whole
and by the slice.
Up-Down
405 N. Euclid, St Louis, Missouri 63108
Hours Mon-Fri: 3:00 p.m. – 2:00 a.m.; Sat - Sun: 12:00 p.m. – 2:00 a.m.
Price Range Inexpensive
George Mahe
Mahe is St. Louis Magazine's dining editor. Originally a finicky eater, he has owned or operated restaurants most of his life. He began reviewing them for SLM in 1991.
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How will Italy's new government approach immigration?
AFP/The Local
governmentImmigrationPolitics
Italy's new interior minister Luciana Lamorgese is a specialist in migration policy. Photo: Filippo MonteforteAFP
Will Italy's new left-leaning, pro-European government steer away from the hardline anti-immigration policies introduced by Italy's previous government?
The new administration, sworn in today, has a delicate balancing act ahead: it hopes to soften the hardline anti-immigration policies introduced by previous interior minister Matteo Salvini, but will be wary of scrapping a policy which won him large support.
The head of the far-right, nationalist League, Salvini used his role in the previous government to promote his party's aggressive stance against the EU and wage war on charity vessels saving migrants in the Mediterranean.
Prime Minister Giuseppe Conte on Monday made a first attempt to repair frayed relations with Brussels by saying Rome was keen to "resume negotiations with the EU… to finally arrive at a European management of the immigration problem".
READ ALSO: Here is Italy's new cabinet in full
He also called for a rethink of the "Dublin regulation", which assigns responsibility for migrants to the nation of first entry.
Italy is on the front-line for many of those fleeing war and poverty in Africa who set out to sea from Libya.
Rescue ship crew approach migrants on an overloaded dinghy in the Mediterranean in May 2019. Photo: AFP/SEA-EYE.ORG
Finland, which currently holds the rotating presidency of the European Council, said Wednesday that the upcoming Malta summit on immigration would "resume the work done in Paris, in the hope of moving in the right direction".
At a working meeting in the French capital in July, some 14 European countries agreed to implement a "solidarity mechanism" to allocate migrants rescued in the Mediterranean across the bloc.
Salvini hardened his anti-immigration policies during his 14 months as interior minister, ranting against migrants on social media platforms and creating laws which forced refugees out of camps and onto the streets, aimed to close the country's ports to rescue vessels, and made it harder to obtain Italian citizenship.
ANALYSIS: How Matteo Salvini lost his gamble to become Italy's PM – for now
The coalition of far-right League and anti-establishment Five Star Movement (M5S) began forbidding ships carrying migrants from entering the country's territorial waters, leaving them stranded for days or even weeks at sea.
The new laws also made it possible to impound charity vessels and slap their captains with fines of up to one million euros.
While Italy's President Sergio Mattarella signed off on Salvini's decrees, he publicly criticised several elements.
He said the duty to save lives in danger at sea took precedence and the fine was too draconian.
'Politically dangerous'
The new government, a tie-up between the M5S and centre-left Democratic Party (PD) is expected to adopt a more pragmatic approach, particularly as new interior minister Luciana Lamorgese is not affiliated with any political party.
In stark contrast to the previous interior minister, Lamorgese is an experienced migration policy expert who apparently has no social media accounts.
"What is certain is that there will be less media attention on the immigration problem," Lorenzo Castellani, political science professor at the Luiss University in Rome, told AFP.
"The new government will seek a deeper dialogue with the EU on the Dublin regulation, and will lower the tone on rescue charities," he said.
But he warned that while Salvini has suffered a slight dip in popularity since pulling the plug on the M5S-League government, an attempt to capitalise on that by relaxing Italy's law on migrants entirely would be "politically dangerous"
READ ALSO: Four key economic challenges facing Italy's new government
Italian right backs Berlusconi's bid for presidency
What will happen if PM Mario Draghi becomes Italy's next president?
Voting for new Italian president to begin on January 24th
Families eligible for Italy's single universal allowance from January
EXPLAINED: What will Italy's new budget mean for you in 2022?
France's Macron and Italy's Draghi call for EU fiscal reform
EXPLAINED: Who could be elected as Italy's next president?
Italy and France sign Rome treaty aimed at changing EU power balance


text:
ARTBA Voices Industry Concerns about FHWA's Emissions Proposal
April 19, 2016 | Second Feature
The Federal Highway Administration's (FHWA) proposal to monitor greenhouse gas emissions from transportation projects is drawing plenty of national media attention (See story), and ARTBA has been a leading voice this week on behalf of its membership.
Vice President of Regulatory Affairs and Assistant General Counsel Nick Goldstein told Politico that a mandate for federal agencies to set climate targets could be used as a pretext to discourage highway construction at a time when America desperately needs better infrastructure.
"Everybody says they want more infrastructure projects, but they're constantly throwing more regulatory hurdles in the way," Goldstein said.
In a Climate Wire story, Goldstein noted that while MAP-21 sets lowering fuel consumption and reducing air pollution as national objectives, it stays clear of mentioning greenhouse gas emissions.
"This is outside of the scope of what Congress agreed to," he said. "If it's truly something they want to do, let's do it separately, and let's find bipartisan support."


text:
Frank Haynes
Express & Star, Frank Haynes, North Street, Royal Navy, Staffordshire, Turkey
Frank Haynes was born in Longton, in Staffordshire, in 1891. His father, John Haynes, died at the age of 34 in 1894, and it is possible that his mother, Mary Ann Haynes, died too (there are a few possibilities). By 1901 he was living with his grandparents, George Henry and Elizabeth Taylor, at 100 North Street, together with his brother, George Henry Haynes. Frank may have married in December 1911, as this would make him 20 years old.
In September 1914 he joined the Royal Navy and became an Able Seaman (KP/558). He died in action in the Dardanelles on 4 June 1915, and this was noted in an article in the Express & Star on 23 June 1915. He is commemorated at the Helles Memorial in Turkey.


text:
Energy Security Challenges for the 21st Century
Japan: The Power of Efficiency
Japanchapter (pdf)
This book chapter is excerpted from Energy Security Challenges for the 21st Century, edited by Gal Luft and Anne Korin (Praeger, 2009).
Energy security concerns are nothing new in Japan. The oil embargo during World War II and the 1970s oil shocks shaped much of Japan's recent history. The island of Japan is unique among industrialized nations in that it is virtually devoid of natural resources. Foreign suppliers must be found for all components of its energy portfolio except hydro and renewables: oil (47% of total energy supply), coal (21%), liquefied natural gas (13%), and nuclear (15%).
Long the technology leader in Asia, Japan finds itself preparing for a future in which its energy policy must weigh increased global energy demand, emerging resource nationalism, and stagnating upstream development. Japanese energy policy is built upon an understanding that resources are finite and that it has maxed out its domestic resources. This is the main factor behind Japan's relentless drive for efficiency and diversification.
By putting efficiency at the center of its policies, since 1973 Japan's energy intensity has improved by 37 percent, and its oil dependency has dropped by 30 points, making it one of the largest, most energy-efficient economies in the world.
The author would like to thank Chris Janiec and Warren Wilczewski for their invaluable contributions to this chapter.
DEC 4, 2020 • Podcast
The Doorstep: Opportunities for a New U.S. Policy Toward African Nations, with Ambassador Charles A. Ray
In this week's Doorstep, hosts Tatiana Serafin and Nikolas Gvosdev are joined by Charles A. Ray, current chair of the Foreign Policy Research Institute's Africa ...
NOV 13, 2020 • Podcast
AI as a Tool for Workers' Empowerment, with Christina J. Colclough
Following up on the AI & Equality Initiative's first webinar on artificial intelligence and the future of work, Carnegie-Uehiro Fellow Wendell Wallach and Dr. Christina Colclough, ...
SEP 21, 2020 • Article
Will Consumers Pay More To Not Source from China?
Retailer H&M will stop relying on Chinese garment factories and suppliers located in Xinjiang, over concerns about the use of Uyghers as forced labor. ...


text:
WAYNE K. SPEAR
Journalism, Essays, Broadcasting, Books
Class Warfare Comes Home
by Wayne K. Spear
Posted on October 7, 2011 January 6, 2015
OF THE MANY, tedious American delusions, perhaps the most insistent and counter-factual materialist superstition is the daft creed that America is a classless society. How useful then for so many citizens to chuck this nonsense and have at it in the open October air, and in the precise manner that Karl Marx identified as the very engine of historical development: the struggle between the haves and the have-nots. Or, as the Wall Street Occupation puts it, the struggle of the ninety-nine have-not percent against the has-it one.
Some of us were writing twenty and even thirty and forty years ago about the dangers established by America's permanent war economy and the expanding wealth gap. Even now I expect that the resilience of the American economy (which is really the resilience of capitalism) will prevent the collapse which, for so many on the left, could not come quickly enough. But let us agree, as some critics do and for the mere purpose of argument, that the demands of the protestors are too vague, or too large, or too several and impractical to be acted upon by a nonetheless dysfunctional and co-opted political establishment. There is still value to the occupations of America's streets. The value inheres in the following: the current agitations inject real-life substance into the political dialectic, and they remind us that when the politicians and the political system can no longer respond effectively to the public needs and will, the people will in the fullness of time act accordingly.
This is not only a reminder, it is a warning. Only a fool with no historical awareness and no imagination looks forward to the revolution. The depressing lesson of history is that the solution to the problem inevitably arrives, and that it is almost always brutal and bloody. The Prague and Arab Springs are the modern exceptions, and even this short list requires qualification. Marx correctly saw history as a materialist-dialectical struggle, and although the Communist solutions to the facts of human deprivation and misery were (and still are) pernicious and intolerable, no one has surpassed Marx as a critic and analyst of Capitalism.
Here we return to the two points above, which is to say the business of real-life substance and the ineffectual political class. An illustration of both is rendered in the Republican House Majority leader Eric Cantor, whose statements concerning the Wall Street protests nicely conflate Washington oblivion and flatulent hypocrisy. Quoted in situ at something called the Value Voters Summit (hosted by the special-interest Family Research Council, and how fitting is that), Cantor — even the man's name!— dismissed the Wall Street protestors as a mob threatening to divide the country. A US congressman waving his finger and pontificating before the public on the matter of divisiveness quite challenges one's patience. Doubtless while others were taking to the streets, Cantor was ensconced in a Religious Right bubble world of intelligent design and cultural warfare, which I concede are bulleted points near the top of the list of real life concerns for a relative few. It is precisely for that reason today's congressperson will typically be found at such oddball events.
As bad as Cantor's cant is, less inspired and less original instances of bilious condensation may by harvested. An oil industry accountant, whose scorn of the protestors fails to rise above Get-A-Haircut cliché, is quoted saying, "I came to mock them. They need to get a job. These are rich, white college students whose professors don't like the Tea Party." From among the Tea Party membership itself, the reception is equally dismissive. Amy Kremer, Chair of the Tea Party Express, cast her cold eye over a vast, uniform crop of spoiled children and struck the metaphor of "a kid having a temper tantrum because their parents won't buy them the whole ice-cream store."
Well, maybe. But do count me among those pricked-up by the politics of matters over which it is worth fighting, in the Marxist sense. On the one had, those at present lining up for jobs at Fox and Sun News and the US Congress, whose principal objective is to defend and extend as far as humanly possible the rights of capital. On the other, those who, having asserted the dignity and rights of their brothers and sisters around the world, are now inspired by their example and ready to apply it at home.
Posted in HistoryTagged America, Amy Kremer, Bail-out, Capitalism, Class, Economics, Eric Cantor, Family Research Council, Karl Mark, Occupy Wall Street, October 2011, Tea Party, Value Voters Summit, Wall Street, Washington
Author: Wayne K. Spear
waynekspear.com	View all posts by Wayne K. Spear
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Вулверин или Ждеравац () је измишљени лик и суперхерој канадског порекла из стрипова издавачке куће Марвел комикс. Лик се први пут појавио октобра 1974. у 180. броју стрип-часописа Халк. Сценаристи стрипа су Лен Вин и Џон Ромита Старији, а цртач је Херб Тримпи. У почетку је био замишљен као самосталан лик, али у каснијим епизодама постаје члан Икс људи.

Карактеризација
Вулвериново право име је Џејмс Хаулет, али је најпознатији по надимку Логан. Ради се о мутанту изоштрених чула, изузетно снажном, са ојачаним скелетом као и са способношћу убрзаног исцељења. Старост му је немогуће утврдити. На превару је увучен у програм стварања Оружја икс када му је скелет обложен адамантијумом, неуништивом легуром. Захват је преживео захваљујући способности убрзаног исцељења, али је притом изгубио памћење. Он има и брата Виктора Крида. Он је врста Сабертут.

Други медији
У филмској трилогији о Икс људима (Икс-мен, Твентит сенчури Фокс) глумио га је аустралијски глумац Хју Џекман.

Амерички стрипски јунаци
Марвелови суперхероји

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