The NCAA has granted a waiver to Afghanistan war veteran Daniel Rodriguez to play football at Clemson this season Rodriguez rec...

SbB LIVE FROM LA (Jun 30, 2012 @ 5:33am ET)

Comments | SbB Live RSS Feed Friday, June 29, 2012

9:00 PM: The NCAA has granted a waiver to allow Afghanistan war veteran Daniel Rodriguez to play football at Clemson this season. Rodriguez received a Bronze Star for his actions during the Battle of Kamdesh.

8:45 PM: A 91-year-old grandmother who caught a foul ball at a recent San Jose Giants game has been invited back to throw out the first pitch for the Giants' July 6 home game against the Modesto Nuts.

8:30 PM: Indiana Pacers player Roy Hibbert on the team picking Miles Plumlee: "Y'all still mad about the draft last night.... Well get over it. Miles is a good player y'all will see."

8:15 PM: L.A.'s Harvard-Westlake High School is building a new $5 million swim complex, including a pool imported from Italy.

8:00 PM: CSN Bay Area's Amy Gutierrez reports the San Francisco Giants have purchased the contract of pitcher Brad Penny.

7:45 PM: Steve Nash tweets his congrats to fellow Canadian players Andrew Nicholson (Magic), Kris Joseph (Celtics) & Robert Sacre (Lakers) on getting drafted last night.

7:30 PM: Derek Jeter got his 3,185th career hit on Friday to move past Cal Ripken Jr. to 13th place on the MLB all-time list.

7:15 PM: TSN's Darren Drager reports that Wayne Gretzky called 20-year-old free agent defenseman Justin Schultz in order to convince him to sign with the Edmonton Oilers.

7:00 PM: A federal prosecutor has accused a suspected marijuana dealer with supplying drugs to members of the 2010-11 Kansas Jayhawks basketball team.

6:45 PM: ESPN PR guy Mike Soltys announces that Erin Andrews is leaving the network: "She did great work for us & we made an aggressive offer to keep her. We wish her the best on her next chapter."

6:30 PM: When he learned a Denver brewery was making "Clown Question Bro" beer, Bryce Harper asked that part of the proceeds go to the daughter of a Denver police woman & single mother who was shot & killed while working security at a jazz concert.

6:15 PM: Milwaukee Brewers pitcher John Axford reveals that the top of his locker is filled with Swedish Fish: "I think I have a problem! Mmmm...a delicious problem!"

5:45 PM: Gilbert Gottfried tweets: "Tom Cruise ends his marriage...or as most people called it 'Mission Impossible'" And Weird Al Yankovic adds: "Sorry to hear that Tom Cruise's marriage has jumped the couch."

5:30 PM: A McEachern (Georgia) High School football, track & girls' basketball assistant coach has been arrested on charges of having a sexual relationship with a female student.

5:15 PM: Georgia Bulldogs RB Isaiah Crowell has been dismissed from the team following his arrest on weapons charges early Friday.

? previous entries

Source: http://www.sportsbybrooks.com/sbblive?eid=39080

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London Welsh win Premiership appeal & promotion

London Welsh have won their appeal to be promoted into the Aviva Premiership which means they will play in the top flight.

Despite winning the second-tier Championship, London Welsh were originally denied a place in the top flight after being told they had failed to meet the minimum standards required of a Premiership club.

But their appeal was heard Thursday and an independent panel spent most of Friday considering their verdict before finding in favour of London Welsh.

The verdict condemned Newcastle to relegation after the north-east club finished bottom of the Premiership last season.

London Welsh were initially told they had failed the minimum standards audit primarily because they did not meet the requirement for primacy of tenure.

In effect, that meant London Welsh, whose existing Richmond base in south-west London is deemed unsuitable for top-flight rugby, were not allowed to share the Kassam Stadium with Oxford United even though three existing Premiership teams co-habit with football clubs.

London Welsh argued the primacy of tenure rule breached UK and European competition law and was therefore void and unenforceable.

The result of the successful appeal means that Newcastle Falcons will be relegated to the RFU Championship.

Newcastle Falcons issued a statement following the decision saying, " We are extremely disappointed with the decision and the representations witnessed at the appeal hearing and we will leave our options open as to where we go from here.

"In this new era everyone at the club will be committed to delivering a successful future and a first class experience at Kingston Park."

"After the disappointment of the decision coming out of the appeal hearing in London, we implore the region to get behind the club to prove what a wonderful and passionate region we are for rugby."

"The last time the club was in a similar situation in 1996/97 we bounced straight back and won the Allied Dunbar Premiership trophy in 1997/98 and it is our ambition to replicate similar success."

"We do not underestimate the competitiveness and challenges we face in the Championship but under the tutelage of Dean Richards we will have one, and only one goal - to win. "

London Welsh issued a statement saying that they welcomed the decision reached by the Appeal Panel.

"The club has always believed in the strength of its case for admittance into the Aviva Premiership, as winners of the RFU Championship, and today's outcome confirms that we were right to appeal against the decision that London Welsh should not be promoted."

"The fundamental strength of our case was based not only on overwhelming legal merits, including in particular anti-competition grounds, but also, equally importantly, on the fairness and justice of rewarding through promotion the team winning on the pitch."

"It is therefore not only a victory for London Welsh, its players, coaching staff and all its supporters but also for sport in general and the game of rugby union in particular, reinforcing the ethos and fundamental sporting ethic that the best team should receive the appropriate rewards."

Rugby Football Union (RFU) Chief Executive Officer Ian Ritchie said, "I would like to thank all involved for their professionalism throughout the considerable time dedicated to this matter, which ensured the case in question was approached with the importance it warranted.

"The decision taken by the RFU Board was based entirely upon the results of the independent auditor?s report in accordance with the Minimum Standard Criteria (MSC), as set out by the Professional Game Board (PGB). We will now instigate a full review of the MSC, working within the PGB, with the aim of ensuring all stakeholders are agreed on the process going forward.

"The RFU considers this matter closed which will now enable all clubs to continue their planning for the 2012-13 season."

Source: http://www.rugbyweek.com/news/article.asp?id=35726

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Easy Green Home Improvement Ideas ~ Furniture Home Improvement

Being aware of how your living standards affect the environment you live in is an admirable goal. Making your home energy efficient can also benefit you on a daily basis, with considerable cost savings. Read on for some easy ideas on how to make your home fit "green" standards that will be beneficial on many levels.Insulation has long been touted as an energy saver, and this holds true more now than ever. Improvements to insulation have made the resources for it more effective and safer for home environments. Insulating walls, attics and loft spaces can be a huge energy saver. It can be as simple as placing sheets of approved insulation in obvious places, or it could involve hiring a certified contractor to blow insulation fibers into hidden corners and cubbyholes.Energy efficient heating and air conditioning systems are widely available in the marketplace today. Thought the upfront cost can seem high, it will more than pay off in the long run. In addition, many utility companies actually offer rebates for installing these newer systems in your home. Check with your local utility providers to determine which systems may qualify and what you need to do in order to take advantage of these benefits.Solar panels have in the past appeared unsightly and have been costly to incorporate into your existing roof structure. However, recent designs have become more attractive, and the idea has gained popularity, making the idea much more palatable for many neighborhoods. If there is not a provider of solar panels in your town, check online for national companies who can contract with smaller local companies to get the job done correctly and to code.Many homes still have the windows that came with the original construction, making them outdated by today's standards for energy conservation. Consider replacing older windows with ones that have double or triple panes of glass. This can significantly cut down on your heating and cooling costs. In addition, look for ones that are tinted to reflect the glare of the sun.Older paint jobs on your interior walls can contain elements that are not acceptable by today's green standards. You can easily re-paint walls now with paints that are free from volatile organic compounds, commonly referred to as VOCs.

Rainwater is a free resource that is easy to disregard, but has many uses throughout your home. Consider installing a system for collecting rainwater as it occurs naturally. You can use the accumulated water for washing your car or pets, watering your lawn or even inside for washing dishes and watering house plants.

An easy way to conserve water inside is by taking a look at the toilets in your bathrooms. Flushing actually requires much less water than is commonly used in older models. Replacing toilets with a short-flush option can save a lot of money over the course of a year.

Always measure the cost savings for each improvement that you make, but it is likely that going easy on the environment will also mean that your wallet will take less of a hit in the long run. Take advantage of these ideas here to get started in the right direction.

Source: http://anangrydakotademocrat.blogspot.com/2012/06/easy-green-home-improvement-ideas.html

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Tom Cruise And Katie Holmes Are Divorcing!

Tom Cruise and Katie Holmes are divorcing after five years of marriage, Holmes' attorney Jonathan Wolfe has confirmed.

"This is a personal and private matter for Katie and her family," Wolfe said. "Katie's primary concern remains, as it always has been, her daughter's best interest."

The couple, who had not been spotted together publicly since February, wed in a lavish ceremony in Italy in November 2006.

It was the first marriage for Katie, 33, who was the one to file for the divorce on June 28, but did so anonymously.

"Katie has filed for divorce and Tom is deeply saddened and is concentrating on his three children. Please allow them their privacy," Tom's rep, Amanda Lundberg, said.

Katie, who also failed to appear at the London premiere of Rock of Ages to support Tom, is seeking sole legal and primary residential custody of Suri, the couple's 6-year-old daughter.

Tom had recently spoken publicly about his soon-to-be ex, calling her "an amazing woman."

It is the third divorce for the actor, who split from Mimi Rogers in 1990 and second wife Nicole Kidman in 2001.

Source: http://feedproxy.google.com/~r/InTouchWeekly/~3/D8T3e6P28U0/tom_cruise_katie_holmes_split.php

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The ServiceMagic Connection | Five Incredible Deck Designs

Looking for a deck that stands out from the rest? Make your backyard a relaxing haven or the perfect entertaining space by opting for one of these incredible designs. They?re perfect for the homeowner who wants anything but a cookie-cutter look.

Once you?ve settled on a design, most of the hard work is done. Simply decide on your material ? wood or composite ? and hire a contractor. In a few short weeks, you?ll be living it up in your new outdoor space.

1. Curved or Circular Decks

Decks don?t have to be square and boring. Why not liven up your backyard by opting for a unique shape? Round or curved decks give ordinary homes some architectural interest. Opt for a deck that forms a semi-circle off the back of your home, or a more traditional-style deck with a circular seating area jutting off to one side. The latter creates a perfect space for a patio table and chairs.

2. Decks with Pergolas

Building a pergola is another great way to add architectural interest to your deck. The height brings an element of grandeur to the backyard. Pergolas are sold in a variety of sizes and designs, from simple to ornate. They can be painted to match your home or deck, and they can also be used as support structures for vines. Pick one up at a home improvement store or have one custom built along with the deck.

3. Outdoor Room Decks

More and more, decks are becoming an extension of the American living room. Modern decks are more than just wooden walkways; they feature elements such as built-in tables and chairs, outdoor kitchens and decorative features like masonry columns and glass railings. Gather inspiration from inside the home to create the perfect outdoor space for entertaining and relaxing.

4. Canopy decks

Protect yourself from the elements and add an element of style by opting for a canopy-style deck. The look is similar to that of a Pergola, but the canopy completely shields you and your guests from sun and rain. Canopy-style decks are ideal for rainy climates, and some are even retractable to allow you to enjoy the sun in good weather. Canopies are also great for adding a pop of color to your backyard space ? they?re available in a wide variety of patterns, colors and designs.

5. Rooftop Decks

Not everyone can pull this off; it depends heavily on how your home or condo building was constructed. But if you have available roof space that can support a deck or you?re building a home from the ground up, why not wow the neighborhood with a rooftop deck? The look is spectacular, and rooftop decks offer unmatched views of the neighborhood or nearby landscape. Of course, building a rooftop deck is a pricey endeavor, but if you can afford it, chances are you will love it.

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Oak Wolf Pack

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Figure Out How To Get In Shape Without Having A Health and fitness

Should you don?t really feel match, you may struggle to do the points you want to do, plus, you will wind up sensation poor about yourself and your life. You don?t need to let this afflict you just simply because you don?t get the details you need to get started off. Consider more than one of your sound advice from the write-up listed below.

A wonderful way to get fit would be to eliminate typical soda pop through your diet regime. Drinking normal soft drinks is really the same as enjoying sugar. It really is will never aid any kind of health and fitness target. As an alternative, switch to diet program soft drinks or even better, move to drinking water.

Depending on the sort of health and fitness routine you happen to be pursuing, you might need to make adjustments in the particular food items and cocktails you consume, as well as the time that you eat them. Should you be undertaking cardio exercise exercises, usually do not take in soon after your regimen. Wait until your whole body seems like your pre-exercise ranges to prevent upset stomach and stomach upset.

Prohibiting certain foods to enter your house like donuts, potato french fries or sweet drinks will allow you to from sabotaging your workout plan. Instead, clean out your family fridge and change the negative meals with much healthier many fruits, greens and drinking water. Ingesting plenty of drinking water will help stop hunger and stop you from above-indulging.

Consider your training session outside. In the event you normally work out with a treadmill machine, go outside. Not only will you get better scenery plus some fresh air, heading outdoors is really an enhance to the workout. Studies have shown that outside routines can help exercisers to get rid of 10 % a lot more calories whilst jogging or jogging on the same speed because you use more energy to advance on the ground, than on the fitness treadmill.

Judge how well your stomach muscles are doing by testing them with an in reverse sit-up. Start with sitting down together with your feet level, thighs and legs bent, and fingertips powering your ears with your elbows out. Try and decrease your self straight down little by little any under 5 moments suggests that you have to focus more about your abdominal routine. The best way to do this is simply by caring for your abdominal muscles very first in your regular workout.

Make an effort to move 10,000 actions each day to get a lean body and exercise. Make use of a pedometer to log each and every phase used and strive for ten thousand. Remember that each step is important, regardless of whether it?s strolling, enjoying sporting activities or exercising. It may seem just like a good deal, but at the conclusion of the day you will probably be amazed in your complete!

When hitting the gym, it is essential to understand that reduced routines are superior to longer kinds. Improve your work out little by little as time passes and understand that high quality training is superior to lengthier training sessions. This can prevent muscle mass strain and rather will build up your muscle tissue power inside a risk-free and wholesome way.

Now that you get some practical advice from the post previously mentioned, there is absolutely no excuse to feel bad about yourself as well as your daily life because you don?t truly feel in shape. You will see that if you use the following tips to get going now, you simply will not only feel good, you can expect to seem far better, as well.

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Land ? Pepperell, MA 01463 now has a new price! | ERA Home ...

Here is an opportunity to build your dream home in a private location. The septic design has expired, however the owner is in the process of having it renewed. There are wetlands on the property. This lot is made up of four parcels from the assessor?s map.

This property features 23.93 Acres, and is currently available for $130,000.

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Michael Jackson Still The King Of Pop Three Years After Death

MJ's continued influence on pop culture has proved that the King of Pop will forever remain in the hearts of music fans.
By Nadeska Alexis

<P><P>Music fans the world over can mark June 25, 2009 as one of those eerie days that force them to recall exactly what they were doing in the moments before they heard tragic news. <a href="http://www.mtv.com/news/articles/1614744/michael-jackson-dies-at-50.jhtml">Michael Jackson died</a> that day, at the age of 50, and the world was not ready to see him go.</P><P>No entertainer could ever fill the void that MJ left behind, but his memory has not faded in the three years that he's been gone. In the past 12 months alone, we've seen Jackson-inspired productions, heard narratives from celebrities who continually cite him as a key influence, and this summer his face will be plastered on Pepsi cans to commemorate the 25th anniversary of his classic album <i>Bad.</i> Keep reading to see a few examples from the past year that prove that Jackson has remained forever in the heart of pop culture.</P><P></p><div class="player-placeholder right" title="Remembering Michael Jackson" id="id:1614746" width="415" height="255"></div><p></P><P><strong>Conrad Murray manslaughter trial</strong></P><P>The public and very messy <a href="http://www.mtv.com/news/articles/1673780/michael-jackson-trial-conrad-murray-prosecution-defense.jhtml">manslaughter trial for Jackson's doctor</a> Conrad Murray began in late September, and it was an excruciating and drawn-out ordeal for fans who were hoping to find closure after the star's death. After a painstaking six-week trial, which included testimony from 49 witnesses, a jury delivered a guilty verdict on involuntary manslaughter charges for Murray on November 7, and the world let out a collective sigh of relief.</P><P><strong><i>Watch the Throne</i> shout-out</strong></P><P>The guilty verdict in Murray's involuntary manslaughter trial was handed down just hours before Jay-Z and Kanye West's <a href="http://www.mtv.com/news/articles/1673963/jay-z-kanye-west-watch-the-throne-madison-square-garden.jhtml"><i>Watch the Throne</i> tour</a> hit Madison Square Garden in New York, and it was clear that the hip-hop Titans were paying attention, just like everyone else. While spitting his lines on the <i>WTT's</i> "Welcome to the Jungle," Jay threw extra emphasis on the line, "Rest in peace to the leader of the Jackson 5," which drew applause from the crowd.</P><P><strong>Cirque Du Soleil launches Michael Jackson: The Immortal World Tour</strong></P><P>After a few preliminary shows in Canada, in October Cirque Du Soleil launched <a href="http://www.mtv.com/news/articles/1682347/michael-jackson-immortal-cirque.jhtml">Michael Jackson: The Immortal World Tour</a> in the U.S., dedicating a two-hour production entirely to the fallen legend. The mind-blowing mashup of dance and acrobatics, set to MJ's music, was an immediate hit, and the 65 artists who trained intensely for their performances did not take their responsibilities lightly. When <a href="http://www.mtv.com/news/articles/1682612/michael-jackson-immortal-world-tour.jhtml">MTV News caught up with</a> one of the dancers backstage, following a performance set to "Danger," he admitted that the entire production was deeply emotional, and that if MJ could see the show, "he would feel such a sense of pride of what he has given us to work with."</P><P><strong>Jackson tops fans' hologram wish list</strong></P><P>Tupac's hologram appearance at the Coachella Valley Music and Arts Festival in April set off a firestorm of speculation about which deceased entertainer we could expect to see onstage next. Not surprisingly, MJ was on the tip of many a fan's tongue. <a href="http://www.mtv.com/music/artist/lmfao/artist.jhtml">LMFAO</a>'s Redfoo put MJ's name at the top of his hologram wish list, while a quick poll of fans in the Times Square area found that the masses wholeheartedly agreed."It's a really clich&#233; answer, but in my time I've never seen [Michael Jackson] and it would just be something awesome to watch," <a href="http://www.mtv.com/news/articles/1684073/michael-jackson-amy-winehouse-holograms.jhtml">one fan told MTV News</a>.</P><P><strong>Justin Bieber's "Die in Your Arms" single inspired by MJ</strong></P><P>Justin Bieber stopped by MTV's Times Square studio on June 19 for his "Bieber Live" special, during which the 18-year-old superstar performed one of his new singles <a href="http://www.mtv.com/news/articles/1687838/justin-bieber-die-in-your-arms-michael-jackson.jhtml">"Die in Your Arms,"</a> and explained that the track was inspired by old MJ footage he viewed during a session with producer Rodney Jerkins. "Before I got in the booth, [Rodney Jerkins] showed me this hour-long video of Michael [Jackson] footage, never been seen before. It's Michael's personality, him in the booth dancing. It's some really special stuff," Bieber recalled. "So me seeing that, going in there and being inspired and working with Rodney, who worked with Michael &#8212; it was incredible."</P><P><strong>Pepsi 'Live For Now' Campaign</strong></P><P>In 1984 Michael Jackson first linked up with Pepsi for a $5 million marketing campaign, and 28 years later the soda giant is teaming up with the Jackson estate to commemorate the 25th anniversary edition of his classic album <i>Bad.</i> The <a href="http://www.mtv.com/news/articles/1684460/michael-jackson-pepsi-cans.jhtml">"Live for Now" campaign</a> will find the icon's face plastered on special, limited-edition Pepsi cans this summer. The cans will include special download codes treating fans to <i>Bad</i> remixes.</P><P><strong>Rick Ross shouts out MJ on <i>Self Made Vol. 2</i> </strong></P><P>From Bieber to Rick Ross, no artist has escaped the influence of Michael Jackson. The Maybach Music Group CEO is unveiling his latest compilation album <a href="http://rapfix.mtv.com/2012/06/21/maybach-music-self-made-vol-2-album-stream/"><i>Self Made Vol. 2</i></a> on Tuesday, just one day after the anniversary of Jackson's death, and that fact didn't escape him. Ross begins the LP's intro by telling fans, "If Michael Jackson came alive right now, he'd ask you to smoke one for him. So in his honor [lights up]."</P><P><b>Jackson Brothers launch Unity Tour</b></P><P>Five days before the June 25 anniversary of MJ's death, his four brothers &#8212; Jermaine, Jackie, Tito and Marlon &#8212; launched their <a href="http://rapfix.mtv.com/2012/04/23/michael-jackson-hologram-jackson-brothers-tour/">Unity Tour</a>. The Jackson brothers revealed that a joint tour has been in the making for years, but admitted that they needed time to heal after losing the most famous member of the Jackson 5. Following Michael's death, all four brothers were featured on the A&E reality series "The Jacksons: A Family Dynasty," which found them coping with their loss. In April it was rumored that an MJ hologram would make an appearance on the jaunt, but there's been no confirmation that the early reports were true.</p></p>

Related Photos

• Michael Jackson: A Fashion Icon
• Michael Jackson: A Life In Photos

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?VEB will show even more impressive results, if not to divert it to the ...

26th June 2012 / Headlines / 0 comments

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???????? ???????????? ???????????????? ???????????? ????????????????We believe it is important to maximize the concentration of all the resources of the bank to cover the implementation of functions and reduction of non-core, uncharacteristic of the Development Bank ???????????? ???????????? ???????????? ???????????? ????????????

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significant infrastructural, industrial and housing projects funded by development institutions around the world. Five years ago Russia made a bid for such institutions by creating, in particular, the Development Bank on the basis of Vnesheconombank of the USSR. Today, sold hundreds of major infrastructure projects, modernization projects and create new import-substituting industries throughout the country. Most of them ? with the support of VEB. However, the experience of development banks in Brazil, China and Germany suggests that the possibility of a development bank Vnesheconombank still not used to 100% due to a number of circumstances, described in an article specially for ?Kommersant? Vnesheconombank Chairman Vladimir Dmitriev.

logic of the assets and liabilities

In recent decades, development banks are increasingly dense and coordinate their activities with each other, promoting the paradigm sustainable national and supranational development, project finance, corporate and social responsibility. To do this, create the international association of institutions, in particular, the International Club of development finance (International Development Finance Club, IDFC), in the activities which Vnesheconombank is actively involved.

Regular contacts between banks of different countries to help scrutinize their accumulated experience. Much of that has been successfully used by our colleagues abroad, can be effectively applied in the Russian reality.

Consider the example of the Brazilian development bank BNDES. This country?s leading financial institution that provides long-term financing within the strategic priorities of the government. In 2010, among the BRICS countries, development banks BNDES ranked second (after a Bank of China) in terms of assets and capital. More than half of its liabilities generated by the resources of two Brazilian state funds ? the Fund to support workers (FAT) and the Consolidated Fund of the program of social inclusion and income generation programs of public servants (PIS-PASEP). The source of these funds are fixed payments of taxes on payroll paid by employers in the budget. Funds, in turn, place a large portion of the funds at a discounted below the market rate in the form of deposits in the BNDES. The urgency of such deposits is 30-40 years, exceeding the term of any market-based funding sources, and thus creating a basis for the stable operation of the development bank with the most complex projects with long payback periods. Therefore, there is no problem BNDES funding. So, in 2010, BNDES capital was increased by 2.5 times from the resources of the state budget. Resources have been allocated to support investment projects to accelerate the growth of the Programme (PAC) and the sustainable investment program (PSI).

BNDES example demonstrates a clear correspondence between the logic of its assets and liabilities. If the direction of the classic investment bank development, by definition, beyond the purely market-based projects, it is logical and what sources of funding the bank can not be purely market.

It should be noted that the Vnesheconombank this logic operation is currently somewhat broken, and he is in a different situation: the bank has a significant share of a purely market-based liabilities. After the State?s contribution to charter capital, or other quasi-fiscal cost of direct investments, not related to specific projects, EBV has not received. Deposits of the Central Bank placed with VEB in autumn 2008 for the renovation of Svyaz-Bank and the Bank ?Globex? are strictly targeted and are payable ? bank transfers them to the Central Bank interest payments of 13 billion rubles. a year.

But VEB assets primarily non-market ? is investing in projects that have payback periods, greatly exceeding the market average, but with high social effects. Throughout the world, externalities, socially significant effects of major infrastructure and economic projects, funded by taxpayers.

In this sense, Vnesheconombank has created a precedent of successful series of borrowings in foreign and domestic markets allows the bank to realize its development titular function, combining seemingly incompatible. At the same time warning signals that we received from the market in late 2011, indicate that to ensure the smooth development and financing of investment projects VEB is very important to be able to maneuver. One of these opportunities we see in the expansion of ways of investing pension funds managed by Vnesheconombank as an agent of the government and the National Welfare Fund, referred to the Board of Ministry of Finance in April 2012. In particular, it seems appropriate to include in the portfolio VEB infrastructure bonds. Of fundamental importance is carefully targeted use of resources mobilized through the emission of the latter, as well as the granting of such bonds by direct Treasury guarantees.

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country

One of the most logical areas of infrastructure bonds ? construction of railways. In this sense, can be considered a successful example of China and China Development Bank (KDB), whose task is a low-interest loans for key infrastructure and basic industries. Selection Committee determines the credit facilities for development and reform of the State Council. One of the BRC funding priorities in recent years, the program is to build a network of high-speed rail, according to the length of which (approximately 8 sq km), China is now ranked first in the world. The volume of funds invested in the creation of BRK network of national railways reached the end of 2010 include $ 25.7 billion highway construction ? Guangzhou-Wuhan highway length 1,068 km, the average commercial speed of trains on which is 350 kilometers per hour (maximum ? 394 km per hour), which substantially exceeds the specification SCM-speed lines in Japan and France. A key source of funding of these, for that matter, and other investments sector DBK ? special issue of the bonds, the so-called policy banks financial bonds.

In Russia today there are also projects to build high-speed lines, but their implementation is limited by practical difficulties in involving financing. Deficiency of the investment program of OAO RZD only for the next three years is estimated at 400 billion rubles., And the closure of the scheme deficit by issuing infrastructure bonds with government guarantees Railways finds no support. Currently, the estimated investment in the project VSZHM-1 ? a road that would connect Moscow and St. Petersburg, is 500-700 billion rubles., The funding of this project in the federal budget for 2012 and 2013 are not provided. In our opinion, one of the sources of deficit financing for this project could be the issue of infrastructure bonds.

Skeptics argue that in the absence of direct and full state guarantee on such securities to investment attraction will be small. However, the global experience in financing infrastructure projects is very rich. In particular, it appears as a security infrastructure bonds could be involved such a tool, as funding through tax increment (tax increment finance), resulting from the implementation of projects.

need for Russian companies in the financing of the initiators of the project is extremely high and clearly exceeds the current capabilities of Vnesheconombank. In this regard, consider it extremely important to maximize the concentration of all the resources of the bank to cover the implementation of functions and reduction of non-core, uncharacteristic of the Development Bank. Unfortunately, currently we are often faced with the important and responsible tasks, which should certainly be done, but that does not fully correspond to the logic of the development bank.

Front cover

Unlike Vnesheconombank, the Brazilian BNDES virtually no restrictions on the areas of industry investment. If the Memorandum of financial policy prohibits the VEB loans to invest in oil and gas, the BNDES lends active and Brazilian oil companies, in particular, Petrobras, and mining giant, the company VALE, and projects for the production of bioethanol, supports beef cattle, and, of course, the electricity and hi-tech.

If the presence of branch restrictions in the Russian context is justified, since one of the problems facing the country ? to overcome the dependence on natural resources of the economy, the other current limit, which is absent at the BNDES, Vnesheconombank seems somewhat superfluous. The fact that the recipient of BNDES support tools can be controlled even by foreigners. The only fundamental condition ? they must be registered in Brazil, have a headquarters and governing bodies in the country. It is an instructive example of creating a clear incentive for non-residence offshore companies operating national assets.

Stages and sequence of removal of industrial and size constraints on the supported VEB businesses and projects ? the subject of serious analysis and discussion. Vnesheconombank has already initiated the removal of the 25 percent limit on foreign ownership in those SMEs that receive support from a group of Vnesheconombank, including through our subsidiary SME Bank. Relevant work with legislators already underway.

Another aspect of our business, which requires careful study, ? a kind of ?failure? for medium-sized businesses. The fact that the lower limit of the amount of loans granted by Vnesheconombank directly to end borrowers, is today one billion rubles. Simultaneously, the upper limit of SME loans, refinanced under the program of our subsidiary SME Bank ? 150 million rubles. As a result, the entire ?middle? loans ranging in size from 150 million to 1 billion rubles., Excluded from the regulatory area of ??our expertise and support, while the values ??in this range is fixed by a huge shortage of loans not covered by commercial banks.

Solutions to this normative conflict may be different. This and additional capitalization from the budget, and expanding the functions of SME Bank (Vnesheconombank, moreover, that has already decided to send in the SME Bank to 10% of its profits each year). However, international experience suggests that it is necessary and the creation of a special mechanism ? a special ?window? ? to support the fast-growing medium-sized enterprises. For example, the BNDES has a program to provide automatic credit lines ? BNDES Automatico. Loans are available through authorized banks and organizations for the long term with a grace period. So that is another possibility, which we use in our practice ? the creation of specialized structures to support medium-sized businesses. EBV is currently subject to negotiations KfW German corporation to establish a fund which would satisfy the needs of medium-sized businesses in the financing. At the same time we are actively cooperating with the Agency for Strategic Initiatives, which supports medium-sized businesses. At the same time there is no doubt that this area can and should be strengthened.

roof over your head

would be a mistake to assume that the activities of development banks focused exclusively on megaprojects in infrastructure and heavy industry sectors. The most important aspect of their operations ? support for housing construction and development of the housing market. From this point of view of the extremely instructive experience of the German development bank, Kreditanstalt fuer Wiederaufbau (assets at the end of 2010 ? $ 591 billion, second in the world). It is worth noting that the KfW ? the largest issuer of corporate bonds in Europe, with all loans it has a sovereign guarantee.

There are currently ten programs KfW to support and develop housing in Germany. Total funding for them in 2010 reached ? 18 billion program aimed primarily at energy-efficient modernization of housing stock, the adaptation of housing for the elderly, energy-efficient construction and maintenance, facilitate the acquisition of shares in housing co-operatives.

is important to note that funding for these programs KfW carries out directly to consumers, and through the refinancing of commercial banks and specialized financial institutions.

VEB support the housing market today is limited to relatively small amounts of ransom AHML and bonds of commercial banks, secured by pools of mortgage loans with the standard constraints on the profitability of the market (weighted average coupon yield of not more than 7% per annum). The severity of the housing problem in Russia today, when 60% of the population is unable to improve their living conditions or market or non-market way, and 15-20% of the households were forced to live under one roof, requires activation of Vnesheconombank in this area. It seems justified to expand the forms and easing VEB refinancing mortgage programs of commercial banks.

hard-won victory

In coming years, Russia has a massive re-industrialization. In this regard, it is obvious that the Development Bank will play a significant role in this process: we already have extensive experience arranging financing for large and very complex projects that have a reputation that allows you to organize the drawing on the unique circumstances and the Group of Vnesheconombank, in which possible implementation of various measures aimed at diversifying the economy.

At the same time to carry out large-scale and ambitious targets requires extreme concentration of resources and maximizing the efficiency of our work. I am sure, Vnesheconombank may show an even more impressive results, if not stop him from work: not to divert non-core activities, to soften the legislative restrictions on its activities and to enable the best use of financial resources, which at the moment available in the State. In this case, the last term success will be prioritizing: we need to select multiple industries in which Russia has not lost its competitive advantage, and make them the foundation of a new re-industrialization and modernization. In this regard, the experience is indicative of the Brazilian Embraer, which in 1969 tried to enter the world?s elite aircraft manufacturers. Success also came to her only in the mid-?90s, when Embraer concentrated its efforts on the creation of small regional jets, frozen for the time being everything other areas of development and production. After releasing its first regional jet in 1996, the company began to actively develop the national market is gradually going beyond its limits and opening up distribution centers in the U.S., Asia, Europe and even Australia.

Embraer is among the priority projects of the Brazilian Development Bank for many years, being one of the largest recipients of loans and the principal beneficiary of the support program. Moreover, the promotion of Embraer BNDES has helped not only with money. Hard skhlestnuvshis with Canadian Bombardier orders in the struggle for air carriers around the world, BNDES was able to fight off claims fraught with serious sanctions Canadians in the WTO, accusing Embraer in the presence of export subsidies by the state.

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Tags: activities banks development different divert Dmitriev even from Impressive more noncore results show Vladimir Vnesheconombank

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Lakmahal 14 ? Different Perspectives: New Politics ? Rajiva ...

Esmond Wickremasinghe

By the time I knew him, my mother?s eldest brother Esmond was emphatically a supporter of the UNP. Soon after I was born he had been sent to New York by Sir John Kotelawala, to negotiate the entry of Ceylon into the United Nations, and family legend had it that it was the charm displayed by him and his wife that finally ensured our admission. Until then the Soviet Union had opposed this, on the grounds that we were still a colony, with the British still having troops here. But, long before Mr Bandaranaike came into power and asked them to leave, Esmond had succeeded in averting a Soviet veto, in terms of a compromise that saw the admission also of other countries that had been disputed.

Esmond was by then seen as Sir John?s right hand man, or rather one of them, for that wily old bird made use of several capable people. But none of them was able to prevent his shattering defeat in 1956, when he led his party to an election called prematurely. Blaming him however would be wrong, for a clear reading of what happened that year suggests that he was forced into calling an election he did not want, and contesting it on a platform he abhorred. Or, rather, blaming him alone ? he cannot escape all responsibility for allowing such a situation to arise, and letting himself be carried along by it, a practice that has been followed since by many other Sri Lankan leaders.

What happened was that Mr Bandaranaike had been campaigning to make Sinhala the official language, as part of his policy of empowering the common man. Unfortunately he did not make the same claims on behalf of the common Tamil people, but that was perhaps part of his understanding that the appeal of his party was confined to majority Sinhala areas. Initially at any rate, anti-Tamil rhetoric was not part of his agenda, his opposition being primarily to the English speaking elite.

The UNP saw which way the wind was blowing, and decided that they too wanted to change official language policy. Sir John however, appreciating perhaps the contribution of northern voters to the UNP, made a speech in Jaffna in which he announced that his party would make both Sinhala and Tamil official languages. This unfortunately roused the anger of the chauvinist wing of his party, and they demanded that he retract.

The Daily News yearbook has a graphic account of what happened then. The critique there of what the UNP did makes no bones about the role played by the wing that was to inherit the UNP, at any rate in the short term after Sir John withdrew in disgrace after his electoral defeat. The implication is that, at that stage at least, Lake House knew who exactly was to blame for the debacle.

What happened was that, following Sir John?s speech in Jaffna, the UNP sessions held early in 1956 in Kelaniya repudiated the policy he had enunciated, and instead voted to declare that the UNP too wanted Sinhala only. Furthermore, they decided that Parliament should be dissolved and that the party should seek a fresh mandate immediately to implement this policy. Tamil members of the UNP argued against it, and when they were defeated many resigned.

The campaign naturally then became racist in tone, with both the UNP and the MEP (the coalition led by Bandaranaike?s SLFP which contained elements more chauvinist than he was himself) competing with each other to win the Sinhala vote. Naturally Tamils throughout the country were appalled. In the North they voted en masse for the Federal Party, which had been roundly defeated by the UNP and its ally the Tamil Congress at the previous election, in 1952. In the south they turned to the left, which explains how the LSSP did much better than the UNP, which not only lost its parliamentary majority, but failed even to lead the opposition.

Sadly, the details of what happened in 1956 are long forgotten, and Mr Bandaranaike looms large in the collective memory as the villain who single-handedly created communal chaos. The role of his rivals, competing to raise the racist temperature ? a practice followed since then by all major political parties ? has long been forgotten.

And they did not stop there. After Sir John resigned, the UNP was in effect led by J R Jayewardene, even though he had lost his parliamentary seat. This was Kelaniya, where the sessions were held and where I have no doubt he did his bit to ensure that Sir John had to eat his words regarding parity of status for the two languages. The two of them loathed each other, since Sir John held J R largely responsible for the palace coup whereby he had been passed over for the Premiership when D S Senanayake died and Dudley Senanayake was appointed instead; and J R, who had hoped to succeed when Dudley suddenly resigned, was deeply upset when Dudley himself recommended that Sir John replace him.

What role if any Esmond played in all this I do not know. By the eighties, when I used to discuss politics with him seriously ? or relatively seriously, for he had an irrepressible sense of humour, and sometimes I wasn?t sure whether he really meant what he said, as when he suggested that N G P Panditharatne might be the best successor to J R ? he was very definitely a J R votary. And I knew that he had been closely associated with J R in the sixties too, when Dudley Senanayake had first fallen out with J R and also with Esmond.

But there were those in between years in the fifties when Dudley Senanayake had repudiated J R and opted for Sir John, and Esmond had served the latter faithfully. And certainly, when tensions began to appear in the UNP over language policy, Esmond?s entire upbringing would have made him likely to approve of Sir John?s more pluralistic approach. Given the manner in which the Daily News handbook summed up the events of 1956, even if Esmond did not interfere with the account penned by his staff, I don?t supposeLakeHouse, which he in effect ran in those days, would have presented an interpretation which he would have deplored.

Why then did he subsequently devote himself so thoroughly to J R? It is a conundrum that must be considered at length, for it went so thoroughly against everything his family stood for, as exemplified most prominently by Lakshman?s unsparing critique of the racism that reached such monstrous proportions as the years went on. Here I can only mention Lakshman?s description of his decision to come back toSri Lankajust before that momentous period, after he had become a priest and was happily engaged in a Ministry in the deprived East End of London, and pondering marriage to an English girl.

Esmond, he said, had advised him, on one of his flying visits through London, to come back quickly, for dramatic changes were going to take place soon. If he didn?t, he would find himself left behind in a different world, unable to make the transition if he did return later.

Lakshman never regretted his decision to come back, though years later when I met the girl he might have married ? who came to my 50^th birthday party, 20 years after Lakshman himself had died ? I could understand how difficult it had been. But once he had come back, Lakshman did not swerve from the world view with which he had started, encompassing a patriotism based on inclusivity. Sadly, his much more experienced older brother was unable, in the political turmoil that resulted, to resist the blandishment of different sirens.

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Morsy says wants to expand Iran ties: interview

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The Facebook IPO Dilemma

Something went wrong with Facebook?s recent IPO

There has been a lot of talk lately regarding Facebook going public? And rightly so. The company?s share has fluctuated enough for everyone to understand that share prices may not always be priced right. Is it too over-priced or is it giving the investors a run for their money by selling for too less?

Honestly, I didn?t think it would be so complicated, especially when you have Morgan Stanly running the books. But then again, as it turned out, the investment banks shared information with selected few that they didn?t do with the public. They say that such communication falls within their legal rights. And then I am reminded as to why fundamental analysis in trading is significant to understand that securities are not always priced right. A little prudence is not too much to ask I suppose.

And now Securities and Exchange Commission (SEC) is in the picture. Something went wrong with Facebook?s recent IPO. As with any underwriter, it is always desirable to keep the prices steady when an initial offering takes place. And they did so. The shares went public for $38 last month, and as of now, it is trading at around $33. What does this tell you? Was the stock priced too high at its start?

Rep. Darrell Issa (R-Calif.), a U.S. House of Representatives committee chairman has voiced his concerns (on behalf of the House Committee on Oversight and Government Reform) by writing to the SEC. ?The investment banks were given almost 80 years to enjoy this flawed law, fraught with conflicts of interest and incentives to misprice shares. Among other things, I ask that you take advantage of the vast improvements in communications technology to protect investors while unleashing capital formation to strengthen our economy.? said Issa.

Specifically, he asks to reconsider the Securities Act of 1933. The act provides a structure on how all the IPOs are managed. The act facilitates underwriters & issuers to ?exercise substantial discretion? in instituting the IPO price. When you have discretion over information that may well be valuable, and at the same time share ?privileged? information to selected few, it does raise caution. It?s an unfair advantage over individual investors.

Now that the offering has already taken place (and done with), I hope Facebook keeps acquiring companies that will contribute to its growth. Judging from the past, it has not been hesitant in making acquisitions. And the kind of companies they acquire show what types of services they plan to change or update. Instagram. Lightbox. Hot Potato. Rel8tion. And recently, Face.com. These and hopefully more in the coming days will be essential to understand the future of the company ? and of course, the investors? faith.

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Africa's answer to South Park

Imagine an SA where its people are under siege from the Swazis and Sothos, and the only ones standing in their way are ?Zulu Boy? and his friend ?Rudolph? ? who just happens to be an alien.

This is the plot of Comedy Central?s new hit, The Izikhokho Show.

The quintessentially South African satirical animation series, and previously only known to YouTube aficionados, is Africa?s answer to legendary South Park, and is set in a surreal and nightmarish universe.

Izikhokho Show is the brainchild of Mdu Comics? founder and cartoonist, Mdu Ntuli.

Among the bizarre and hilarious characters appearing in the hand-drawn cartoon series are: ?Jesus of the ANC? (who visits Zulu Boy in his sleep and tells him that the lord wants him to transfer money on the computer); an unidentifiable creature named ?Bob? who deals with the Mafia and gets intimate with Noleen from 3Talk; not to mention ?Bonang the Camel Toe? and ?Madala? from the Manhood School.

One of Ntuli?s strips is the subject of two complaints to the Human Rights Commission over claims that it pokes fun at Tsonga/Shangaan-speakers.

In Izikhokho Show, Jesus commits suicide because he discovers he is Shangaan. The animation, called Jesus is a Shangaan, has clocked up 108 396 views on YouTube since it was posted last month. Evert Van Der Veer, head of Comedy Central, said this week: ?Izikhokho with its strong graphic look, satirical spin and out-there humour was a great match for our channel.

?Izikhokho?s animation perfectly fits what comedy stands for, it has the power to put issues in perspective, make people think about subjects in another way. Comedy Central is searching for local content, and wants to give local content a stage; not only stand up comedians, but also an artist like Mdu Ntuli.?

Asked whether he expected complaints from sensitive viewers, he said it was unlikely

?The viewers of Comedy Central are mature comedy lovers who are familiar with the concepts and parameters of satirical comedy,? Van Der Veer said.

Catch Izikhokho Show on Comedy Central (DStv Channel 122) every Monday night after South Park. -Saturday Star

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Qudos International: John Travolta Facing Legal Action In Spa Saga

Troubled star John Travolta has become embodied in yet another legal problem, after the author of a book about the Hollywood star's alleged gay encounters has filed a libel case against him.

Robert Randolph, author of the autobiographical You'll Never Spa In This Town Again, insists that the star and his attorney discredited his book by falsely claiming that Randolph had mental issues, TMZ reports.

A statement made on behalf of Travolta has immediately tried to nullify the claim, saying; "The lawsuit filed by Robert Randolph is absurd. The suit is based on a privileged communication, and it will promptly be thrown out by the court." The statement continues by stating that; "Mr. Travolta will aggressively defend himself against this lawsuit and expects to be fully vindicated when this meritless case is dismissed."

Randolph claims, is his suit, Travolta's PR and his attorney MARTY SINGER began on an extensive smear campaign to discredit Randolph as best they can, which included them saying that he has mental issues and has spent time in a mental institution. The campaign may have had an effect as Randolph's tell-all book has suffered numerous set backs, with retailers refusing to stock it. Randolph is now suing for unspecified damages and amounts. As of yet, neither Travolta nor Singer has made any comment.

Source: Contact Music

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Catholic Monsignor convicted in Philly abuse case (Americablog)

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