Wednesday, August 15, 2012

Latin America: Innovation Quotient Needs Improvement ? Miami ...

Posted on by The Victoria Law Group

I can?t think of any great business innovation that has come out of Latin America in recent memory that has made a big impact on the world.? I?m thinking in the league of Microsoft, or Google, or anything.? Sadly, it shouldn?t come as a big surprise that most Latin American countries ranked between the middle and the bottom of new United Nations index of innovation. What?s surprising-and depressing ? is that, with a few exceptions, they are not even making the list?s subgroup of ?innovation learners.?? Miami, we?ve got work to do!? I say Miami, because in many ways, and yes arrogantly, Miami is the innovation engine for Lat Am.? Lat Am, start your engines.

Read Andres Oppenheimer?s Miami Herald article here:

http://hrld.us/MWKVWS

?-

Brought to you by Bob Arnold from Miami International Business Attorney.

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Source: http://miamiinternationalbusinessattorneys.com/2012/08/14/latin-america-innovation-quotient-needs-improvement/

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Conn. homeowner billed 25 years for streetlights

CHESHIRE, Conn. (AP) ? A Connecticut utility has reimbursed a woman almost $10,500 after acknowledging it billed her for 25 years for the electricity used to power streetlights near her home.

Grace Edwards tells the Hartford Courant she discovered the billing error after a prospective buyer for the house in Cheshire asked for a history of utility charges.

Connecticut Light & Power says a developer who previously owned the home had agreed to pay for the lights.

The company initially refused to reimburse Edwards but relented when the state's Office of Consumer Counsel got involved.

The overcharges amounted to about $35 each month.

CL&P spokesman Mitch Gross says the utility has apologized to Edwards for the error and inconvenience.

Source: http://news.yahoo.com/conn-homeowner-billed-25-years-streetlights-103724804--finance.html

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The Agony of Defeat and How Three Fighters Have Dealt with It

Watch a fighter's face when he's won and the story is all there ? the relief, the elation, the euphoria.? And yet, what of the other half to that equation?? What of those who've been forced to swallow the bitter pill of defeat?? It's an inescapable truth that, for someone to be the victor, someone else must lose, and that karmic flipside is what makes the sport a cruel and harsh mistress to all who dare strap on four-ounce gloves and step into the cage.? To compete is to flirt with a very particular, very exacting kind of agony.? For the sake of examining further what it means to be on the losing side of things, Cagewriter tracked down a trio of accomplished fighters to get their perspective.? The three all share two common denominators: they're very, very good at what they do, and they've all dealt with defeat.

?

Tom DeBlass, UFC Fighter

In 2003, New Jersey native Tom DeBlass fought his first amateur bout.? He'd been a track star in college, and had only three months of martial arts training, but hey, what the heck, right?? Unfortunately, his opponent was veteran kickboxer and experienced mixed martial arts fighter, and things didn't go so well.? So DeBlass went back to the drawing board and sought to gain the skills necessary to succeed.? By the time he made his return to the cage, he was now a black belt under Ricardo Almeida, with successful runs as a competitor in everything from the Jiu-Jitsu Worlds to the Pan-Ams to the Abu Dhabi Submission Wrestling World Championship Trials.? He was, quite literally, a completely different person.

"I lost my first fight as a youngster because I really just ? I didn't even train jiu-jitsu, I didn't even know anything," says the 30-year-old DeBlass.? "With that skill set, I would've lost a hundred out of a hundred times, because I didn't know any better."

It took only seven pro fights in New Jersey's Ring of Combat promotion for DeBlass to earn his shot in the UFC's Octagon ? seven fights in a little over a year and a half, each one flawless and won by quick submission or knockout or protracted war.? But when that shot came, it was for a UFC on Fuel TV held in Sweden, and it was on short notice against a vastly more-experienced Cyrille Diabate.? No one says no when the UFC comes calling, so DeBlass took the fight; he lost via majority decision ? his first defeat as a pro and his first loss in nine years.

"This one with Cyrille, it hit me pretty hard," says DeBlass.? "I was pretty upset.? Just because I know, with all respect to him, I'd finish him probably fairly quickly if I was in a full training camp.? This was one fight where I was really, really out of shape.? Usually in between fights I stay in shape, but I'd hurt my ankle.? I'd pulled out of a Ring of Combat fight, and I was letting my ankle heal.? I was on vacation with my fianc?e the week before, and I got fat and I got out of shape.? I knew that, so it was kind of a terrible feeling going into a fight knowing you're not prepared for it.? But I still thought I could win.? And you know, the fight was going my way.? Not even just going my way, it was an easy fight.? I was dominating.? Then I just had nothing left.? I was so exhausted.? And when I lost, I was just very disappointed ? I'm still very disappointed."

What did DeBlass do to cope?? "Right away, as soon as possible, I tried to find the positive," he says.? "I changed my whole training.? As much as I was doing before, I'm doing things differently now, working on different aspects.? And everything happens for a reason, man.? In this sport, you've got to be ready for anything."

The UFC already had DeBlass scheduled to fight on another UFC on Fuel TV, but the bout was cancelled when his opponent got injured. ?Regardless, DeBlass ? who's moving down to middleweight for the first time ? fully anticipates being ready for anything when the UFC calls again.? Just as he did after losing that first amateur bout all those years ago, he's making the adjustments necessary to assure future success.

?

James Jenkins, Ring of Combat Fighter

Things were going great for James Jenkins until he walked face-first into a nose-breaking right hand.? Up to that point, the 26-year-old Matt Serra/Ray Longo product was beating all comers in Ring of Combat ? so much so that, to give Jenkins someone to fight for the promotion's featherweight belt, an opponent was flown in from Chicago.? Still, Jenkins was the heavy favorite going into the bout.? But all it takes is one mistake in this game.? One mistake.

"I felt absolutely horrible," says the Long Island, N.Y. native.? "I felt like I had a great shot in front of me and I had worked hard to get this far.? I didn't have any regrets as far as training hard, I didn't take him lightly ? I could be fighting a 13-year old and I wouldn't take him lightly."

Says Jenkins: "I'm a prideful guy.? I don't take losing? I couldn't lose at a game of Monopoly.? So this was pretty rough.? It was hard.? A lot of bad feelings.? I don't want to have to feel it again for ? well, if I could have my way, never."

What was it like for Jenkins after the fight? ?"I get down to the locker room, and I was just trying to wash the blood off my face and everything," he says.? "I think for a few days I did nothing but think about it.? I'd be sitting in a car with my girlfriend and I was just start zoning out thinking about it.? For a while, I had this feeling like I could just go back in time.? Like if I could just think about it hard enough, I could go back in time and I could fix it and I could make it all better.? I had to sit there and really tell myself, 'You can't go backwards.? What's done is done.? The only thing I can do is work for the future.'? That's the only thing you can do when [expletive] goes wrong, you just have to work to make sure it doesn't happen again."

What's next for the still-rising featherweight star?? "I took a little time off to be with my friends and family, but now I want to be back in the gym and fighting at the next Ring of Combat.? I want to come out with a strong showing.? I really think that's the only thing that will take away some of the bad feelings.? You know, to get a win."

When Cagewriter interviewed Jenkins, it was outside of former UFC champ Matt Serra's gym, right before a training session; clearly, Jenkins is already on his way back to the cage.

Dan Miller, UFC Fighter

There are few fighters in the UFC ? or even the world ? who can impress in defeat like the veteran middleweight-turned-welterweight Dan Miller.? In eleven fights in the Octagon, Miller has amassed a 6-5 record, and those five losses were after hard-fought scraps against the likes of Chael Sonnen, Demian Maia, Michael Bisping, Nate Marquardt and Rousimar Palhares ? tough guys, one and all.? Still, the New Jersey native knows of the sting a fresh "L" on your record can leave.

"It is tough," he says.? "I going into every fight believing that I can win, and wanting to win, but it's part of the sport and somebody has to lose."? He adds: "The way I feel is, as long as I put everything I had into it and got beaten by a better fighter that night, it makes it a little easier."?

"For me it was never okay.? I never walked out of the ring not disappointed in myself.? But again, it's something that sucks, but it's not the end of the world.? I go into the gym and it makes me work harder.? Every time I lost I just tried to get better and improve myself."

Miller's advice to any young bucks out there who find themselves on the inevitable losing end?? "Keep your head up and learn from it, basically.? Pretty much everyone is going to lose at some point in their career, and it's one of those things where you're going to have to learn from it.? If you didn't learn from it, then it's bad."

*????????? *????????? *????????? *

That's it for me, folks.? It's been a blast writing for Cagewriter, and hopefully you'll see me again.? Follow me here on Twitter; this is where I blog about local fights shows of both the sanctioned and unsanctioned variety; this is the book I wrote on underground fighting.? I've been writing about MMA since 2001, and I sure as hell ain't stopping now!

Source: http://sports.yahoo.com/blogs/mma-cagewriter/agony-defeat-three-fighters-dealt-003155154--mma.html

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Ramadan Thoughts over Tamarind Chutney - Hobbsmichal245's blog

My mother and I are in the kitchen on a bright Sunday afternoon right before Ramadan. Spices overwhelm our shared counterspace as my mother toasts and grinds spices for her garam masala, the ubiquitous Indian spice blend.

Making garam masala. Note the coffee grinder in the corner. It?s never been acquainted with coffee.

I?m squishing tamarind pulp that?s been soaking in warm water through my fingers?my mother assures me that the food processor won?t give the same results.

After years of avoiding learning from my mother?s kitchen skills, I find myself this year asking her to show me how to make tamarind chutney?a sweet+tangy condiment that?s only made during Ramadan at our home, that I eat in unhealthy amounts with everything during the month. It?s time I learned how to make it for myself.?

Despite the lack of food consumed during the day, there is an eclectic abundance towards the end as everyone at home prepares their own favorites to share. Our family?s iftars consist of dates, almonds, a cool sweetened milk drink called sharbat, and a spiced fruit salad. There is usually some sort of deep fried Indian snack?my sister?s dahi vadas, my dad?s bhagias (always tending more towards onion ones), samosas (the flat, triangular kinds at my home) prepared en masse and frozen to be fried at a moment?s notice, kebabs. All of the snacks go fantastically with the tamarind chutney; many are lovingly shared with friends who live close by.

Here?s an example of an iftar at home: a glass of sharbat topped with takmariya and almonds, a potato cutlet with spiced ground beef (known as the ?potato chop? at home), a chicken kebab, dates, almonds, imli chutney. Fruit salad is off to the side. A small jar of imli chutney takes up residence near my plate for easy access.

And then there is always something else on the plate too, anything from a variety of different foods that reflect our family members? own likes and upbringings. My mother always makes mandazi (fried triangular bread), barazi (a type of saucy bean accompaniment for the mandazi), and futari (cassava soup) at least once during the month?a reminder of both of my parents? upbringing in Tanzania. Various pasta dishes, farmers market finds coaxed into sides, and other Indian foods round out our meals.

I?ve moved on to squishing dates that have been soaking in water through my fingers for the imli chutney as my mother and I talk about how she learned how to make it?first from my grandmother, and then mostly by trial and error every time thereafter. It?s never quite clear what the proportion of tamarind to dates is supposed to be?the chutney tastes slightly different every year. Luckily, we?ll be able to taste it and adjust as we?re not yet fasting.?

Growing up as a kid (and, who am I kidding, even now), the food we eat during Ramadan at home has been one of the biggest highlights and blessings of the month. Many of the foods I mentioned only come into existence during Ramadan (or when my siblings and I visited our grandmother; she was shocked to hear we only ate samosas during Ramadan).? This mini food fest, in part, became what we looked forward to as kids after a day of fasting.

But this time well spent in the kitchen is only a small part of what the month is about. There?s a sort of hyperawareness of the small moments that make up the day?an awareness that seems to become clearer as the month progresses:

Eating my pre-fajr breakfast with family. Listening to my mother read Quran as I get ready for work. Weekend farmers market visits in preparation for lazy afternoons in the kitchen. Quiet walks around a nearby lake before iftar. Tarawih prayers in the evenings surrounded by women wearing abayas, shalwar kameez, sweatshirts and jeans. Interspersed throughout, reaching out to dear friends and family?both those fasting and not. Free time spent reading Quran and various blogs and reflecting on the month and on myself?am I leading a personal, spiritual life of conviction in a way that is meaningful to me?

When I was a kid, these moments escaped my notice. Ramadan was a time for Dad?s bhagias, evenings at the masjid for Tarawih prayers, and gifts of money on Eid for every successfully completed fast. The moments were a blur; the month passed by without much reflection. Perhaps as it should be during those ages of innocence.

I find myself as a grown-up now increasingly looking forward to the month for personal reflection. With every additional year, there is so much to be grateful for. The month serves as a reminder that it?s never too late to learn something new?be it learning how to make a chutney or to memorize another surah, to take up or leave habits behind, seek forgiveness for ourselves and others and grow in our lives.

It?s also an incredible opportunity for sharing my beliefs with others who are unfamiliar with what the month entails for Muslims. These conversations occur with every passing year and I enjoy them more each time. They?re never the same but always serve to help bridge an understanding of some of our beliefs and festivities.

I?m directed to strain the tamarind, removing seeds and unsquishable fibers. The tamarind and date pulp then bubbles for a few minutes on the stove?turns out it needs sugar (the dates aren?t as sweet this year). My mother adds freshly toasted and ground cumin, pepper, and salt. We each try a spoonful. It?s thick, sweet+tangy the way I like it, perfectly spiced, not quite the same as last year?s. We fill a large pickle jar and keep it in the fridge, ready for the month ahead. ?

?

For more on Ramadan, and to read the rest of the posts in MMW?s Ramadan 2012 series, click here.

Source: http://www.patheos.com/blogs/mmw/2012/08/ramadan-thoughts-over-tamarind-chutney/

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Source: http://hobbsmichal245.typepad.com/blog/2012/08/ramadan-thoughts-over-tamarind-chutney.html

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Monday, August 13, 2012

Snoring Issue? Resolve It With Sona Anti Snore Pillow And Different ...

Snoring can be irritating not only to the snorers, but to anyone who sleeps using them. You will find many available ways of support snorers handle snoring, and in many cases, eliminate it completely. In this specific article, there are alternatives of easy to implement tips that can help you to lower your snoring.First, make an effort to use a Sona anti snore pillow. It?s among the most useful, simplest, and best methods how to stop or decrease snoring and moderate snore. It is helpful, particularly if the cause of snoring could be the wrong position while asleep. Authorities suggest that the individual should sleep on the medial side and not on the rear. When a person rests on his back, since appropriate ventilation is blocked that he will snore. That is why this pillow has been established and tested to work because the snorer is disciplined by it not to sleep on his back.The prepared portion of the pillow inhibits the snorer from lying on his straight back. The either left or right hand ought to be placed under the pillow. The neck and head should be properly situated. Ideally, the chin should really be moved forward. In this situation circulation becomes patent. Therefore, snoring is paid off or stopped.But why you need to Sona anti snore pillow and not different brands of anti snore pillow? Listed here are the reasons:? It?s scientifically accepted and tried. A small grouping of rest and neurologist pro have examined and produced the mechanism of the pillow. ?? It doesn?t only help ease the snoring problem; but it is also advised to help in cases of moderate sleep apnea. Gentle snore is the lack of breathing for a few moments. It is distinctive from snoring, while often they go together. Slight sleep apnea advances other health problems. Like for example, it challenges the center that may lead to high blood pressure and on occasion even stroke. ?? It?s made for part sleeping. It might be a little awkward throughout the first couple weeks. However the snorer could adjust to it while the cushion gives Helpful Tips:You to comfort.Other must adjust when you eat if you wish to control your snoring. For supper, eat a light meal early later in the day. You want to avoid foods that are abundant and have milk products since these type of foods boost mucus build-up that block your airways. Also, a good solution to help you soothe your throat right before bedtime is to drink a little bit of tea with honey.To decrease the chances of snoring at night, restrict your intake of excess food and liquor for at least three hours before you go to sleep. A large meal or alcohol causes the neck muscles to relax. Both of these can cause snoring and must be avoided to eliminate this problem.As stated earlier, snoring can be annoying and frustrating for all. Unfortunately, several same people do not recognize that there are numerous treatments offered to alleviate, or eliminate, their snoring and its undesireable effects. Take to the tips you only read to simply help you liberate yourself from snoring problems.

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Source: http://articlereference.net/health-fitness/snoring-issue-resolve-it-with-sona-anti-snore-pillow-and-different-sleeping-guidelines.html

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Aspirin lowers risk of cancer mortality Lastupdate:- Mon, 13 Aug ...

Washington, Aug 12: Aspirin intake tends to lower the risk of cancer mortality, says a study.
?A recent pooled analysis of randomized trials looking at the effects of daily aspirin use as a preventive measure found a significant 37 percent fall in overall cancer mortality.
?But the effects of long-term daily aspirin use on cancer mortality remain largely unknown, the Journal of the National Cancer Institute reports.
?Eric J. Jacobs, Epidemiology Research Programme at the American Cancer Society (ACS) in Atlanta looked at data on 100,139 men and women who had no prior history of cancer but had been taking aspirin daily, ACS said.
?The researchers found that among 5,138 participants who died because of cancer, daily aspirin usage was linked with slightly lower cancer mortality and was unrelated to the length of daily use. IANS

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Source: http://www.greaterkashmir.com/news/2012/Aug/13/aspirin-lowers-risk-of-cancer-mortality-16.asp

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Best Buy's Summer Gaming Blowout begins today | Joystiq

Best Buy's Summer Gaming Blowout includes massive deals on Just Dance 3, Rayman Origins, Crysis 2 and a bomb of other games, running from today, August 12, through August 18.

Just Dance 3, Rayman Origins, Super Street Fighter IV: 3D Edition, Tekken Hybrid and Crysis 2 are running $10 each, along with a handful of other motion-sensitive and visually enchanting titles. Check out all the games and accessories right here.

Source: http://www.joystiq.com/2012/08/12/best-buys-summer-gaming-blowout-begins-today/

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Wednesday, August 8, 2012

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Source: http://curryrecipe-jp.net/health-2/maxi-health/

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Play2Fun.com ? Self Improvement Techniques For Boosting Your ...

Everyone has points we set time and effort and effort into. Perhaps it?s your task possibly it?s your self confidence. But how much time would you ghds spend on oneself? Self improvement is essential, and yes it shouldn?t be ignored. This article will give you some great recommendations on methods for you to try to enhance oneself.

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Source: http://play2fun.com/?p=8595

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Sales simulations ? a blue ribbon training methodology | Sales ...

Over the last decade we have used sales simulations with a significant number of B2B companies across a wide variety of industries.? The programs have consistently received extremely high evaluations.? The programs get high marks from both the participants and from senior sales management.

Because a significant amount of money is spent on sales training each year and getting it right is increasingly important, we thought a review of sales simulations would be useful.? Let?s take a look at what it takes to design an effective sales simulation and then explore some of the potential payoffs.

Sales Simulations ? What does it take to design a good one? First, it is important to establish some background.? When we discuss sales simulations we are talking about classroom programs versus computer simulations.? The programs are either one or two days in length.? In order to design a good one, the following considerations are important:

  • Design. The simulation must be custom-designed for your sales reps and the specific sales challenges they face.? Off-the-shelf simulations with a few customized examples will not carry the day when a sales team is engaged in a complex B2B sale.
  • Learning Environment. The classroom experience must be highly interactive and engaging.? This is best accomplished by reducing the lecture time to zero and maximizing practice and feedback.
  • Instruction. A faculty rather than a single trainer should instruct the sales simulation.? The best combination is a senior instructor plus experienced sales managers who can play the buyer roles, introduce best practices, and provide expert feedback.

Sales Simulations ? What are some of the potential payoffs? Given that sales simulations are a high-impact design and assuming they are custom-developed for each client, the potential payoffs and associated priorities can be fine-tuned for each implementation.? A short list is:

  • Skill Development. The major outcome of every training program is skill development.? In the sales simulations used with our clients, two skill areas have been emphasized ?? account strategy and call execution.? In complex B2B sales the ability to formulate and modify an effective account strategy and the ability to plan and execute sales calls are indeed the core skills for success.
  • Special Sales Challenges. In some companies the sales team is faced with specific challenges that the sales simulation can be customized to address.? Examples would include: selling to senior management, positioning a new product, or moving from selling an individual product to selling an integrated solution.
  • Institutional Support Validation. In B2B sales everyone needs to come to the party ? the sales team requires, for example, help from groups such as technical support and marketing.? By observing the strategy planning and the sales calls in the sales simulations, a judgment can be made as to whether the existing support is on target.? Questions can be answered like: Do the sales reps need more and better product literature? Do they have a repertoire of success stories? and Is there a shared set of messages around company history and capability? ??
  • Team Building. In a sales simulation just completed for a major company in the oil and gas industry, the company was faced with the need to have a higher degree of coordination and teamwork between different sales groups within the company.? To address this need, the participants were divided into teams comprised of members of the various groups.? During the two-day sales simulation each team had to work together develop a strategy and make sales calls to leverage their combined capabilities to win the business.
  • Training Needs Assessment. Because the faculty is comprised of sales managers and the participants spend all their time strategizing and making sales calls, the sales simulation provides an excellent opportunity to determine what additional training makes sense for the sales team.? As an aside this is a quicker, less expensive, and more accurate approach for doing needs assessment than the classic survey method.? It should be pointed out that whereas the sales simulation can be used to do a team level assessment; it is inappropriate to use it to assess individual sales reps.? This of course would be true for any type of training.
  • Coaching. Sales manager coaching is a key ingredient of any long-term effort to develop a sales team.? Because the sales simulations use front-line managers as faculty and they are responsible for coaching both strategy and sales calls, simulations are an excellent opportunity for the sales managers to perfect their coaching skills.

Blue ribbons should not be awarded casually.? However we have found sales simulations to be a powerful and successful training methodology time and time again ? so this is a case where we feel the designation is totally appropriate.

If you found this post helpful, you might want to join the conversation and subscribe to the?Sales Training Connection.

?2012 Sales Horizons, LLC

Source: http://salestrainingconnection.com/2012/08/08/sales-simulations-%E2%80%93-a-blue-ribbon-training-methodology/

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Tuesday, August 7, 2012

prkworld: I just became the mayor of Grosvenor House on @foursquare! http://t.co/5o6AyXok

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Source: http://twitter.com/prkworld/statuses/232576069587333122

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Will Ferrell, Zach Galifianakis Audition For Fifty Shades of Grey Roles


Will Ferrell and Zach Galifianakis, making the media rounds promoting their new political comedy The Campaign, decided to audition for the sought-after lead roles in another upcoming movie generating a great deal of buzz: Fifty Shades of Grey.

Amid all the debate, speculation and argument over who should play Christian and Ana, we may have overlooked these two diamonds in the rough.

It's like the duo truly was born to star in this movie together. Will's right ... Fifty Shades' writing really is exquisite. Watch the funny clip below:

Source: http://www.thehollywoodgossip.com/2012/08/will-ferrell-zach-galifianakis-audition-for-fifty-shades-of-grey/

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Millwright Cover Letter Sample - Cover Letters and Resume Samples

All cover letters for millwright resume need to be extremely focused so that they do not leave anything which is desired by the employer. Let us suppose that you are a millwright looking for employment; how would you write your cover letter? You will need to indentify who you are, why have you contacted an employer and why the employer must meet you? You will need to write the skills a millwright should possess in order to gain the employer?s attention.

Look at the example below in order to get a good idea.

?

Millwright Cover Letter Example

827 Whitehills Ct.
Lake Saint Louise, MO 77363

August 7, 2012

Mr. Brian Jackson
Hiring Manager
Apex Mills
982 Broadway Avenue
Lake Saint Louise, MO 99383

?

Dear Mr. Jackson:

I have been following the success of Apex Mills for over a year now and needless to say, very excited to apply for the position of Millwright in your company. I possess a considerable experience in managing duties related to assembling and dismantling power plants on a large scale. Owing to my knowledge and experience, I am confident in my capability to become an asset to your company.

As an highly skilled individual in an industrial atmosphere, I?ve a demonstrated ability in installing and maintaining industrial level machinery. My knowledge and hands-on experience in using hand and power tools, lasers, ultrasonic measuring tools, plumb bobs, cutting torches, welding machines and tensioners will enable me to perform my duties efficiently at Apex Mills.

Furthermore, I have the capacity to understand the safety precautions that are needed in order to work effectively and minimize accidents; I strive hard to take them all into account prior to starting a procedure. Having attained formal on-the-job trainings, I am able to understand layouts, necessary mathematical and geometry concepts and load properties that are essential to the success and easy flow of this work.

I am very confident that you will find my skills set strong enough to call for an interview. I would like to meet you in person for which I will contact your office in the week of August 20 in order to set a meeting time. In addition, I will be available after business hours at 999-999-9999 if you need any additional information.

Thank you for your time and consideration.

?

Sincerely,

(Signature)
Elijah Wood

Enc. Resume

Source: http://coverlettersandresume.com/cover-letter/millwright-cover-letter-sample/

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Monday, August 6, 2012

Report: Boy Scout files reveal repeat child abuse

LOS ANGELES (AP) ? Internal documents from the Boy Scouts of America reveal more than 125 cases in which men suspected of molestation allegedly continued to abuse Scouts, despite a blacklist meant to protect boys from sexual predators.

A Los Angeles Times review (http://lat.ms/OT9zx5) of more than 1,200 files from 1970 to 1991 found suspected abusers regularly remained in the organization after officials were first presented with sexual misconduct allegations.

Predators moved from troop to troop because of clerical errors, computer glitches or the Scouts' failure to check the blacklist, known as the "perversion files," the newspaper said.

In at least 50 cases, the Scouts expelled suspected abusers, only to discover they had re-entered the organization and were accused of molesting again.

In other cases, officials failed to document reports of abuse in the first place, letting offenders stay in the program until new allegations came to light, the Times reported.

One scoutmaster was expelled in 1970 for sexually assaulting a 14-year-old boy in Indiana. After being convicted of the crime, he went on to join two troops in Illinois between 1971 and 1988. He later admitted to molesting more than 100 boys, was convicted of the sexual assault of a Scout in 1989 and was sentenced to 100 years in prison, according to his file and court records.

In 1991, a Scout leader convicted of abusing a boy in Minnesota returned to his old troop shortly after getting out of jail.

In response to the Times' findings, the Scouts issued a statement that said in part:

"The Boy Scouts of America believes even a single instance of abuse is unacceptable, and we regret there have been times when the BSA's best efforts to protect children were insufficient. For that we are very sorry and extend our deepest sympathies to victims ... We are committed to the ongoing enhancement of our program, in line with evolving best practices for protecting youth."

The "perversion files" naming suspected child molesters include admissions of guilt as well as unproven allegations. They are used to vet applicants for volunteer and paid positions. The confidential documents have come to light in recent years in lawsuits by former Scouts, accusing the group of failing to detect abuses, exclude known pedophiles or turn in offenders to authorities.

Scouting officials say they've used the files to prevent hundreds of men who had been expelled for alleged sexual abuse from returning to the organization. The Boy Scouts have fought in court to keep the records from public view, saying confidentiality was needed to protect victims, witnesses and anyone falsely accused.

Many of the files will soon be made public as a result of an Oregon Supreme Court decision. The Associated Press, the New York Times, the Oregonian and other media outlets petitioned for the release of 1,247 files from 1965 to 1984 that had been admitted as sealed evidence in a 2010 lawsuit.

The Times analyzed a set of files that were submitted in a California court case in 1992. Their contents vary but often include biographical information on the accused, witness statements, police reports, parent complaints, news clippings, and correspondence between local Boy Scout officials and national headquarters, according to the newspaper.

___

Information from: Los Angeles Times, http://www.latimes.com

Source: http://news.yahoo.com/report-boy-scout-files-reveal-repeat-child-abuse-181201518.html

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Get The Best From Cheap ghd Straighteners Interior Decorating ...

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Source: http://www.techreviewsworld.com/?p=81839

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Relationship between higher civil servants and their political ...

By AMA PEPPLE
THERE are concerns that the recruitment process into the Service is highly influenced by both the political and administrative leadership.

If this claim is true, the consequence is that it is not only the society that loses but also the political leaders and the administrative leaders of the Service who need the services of capable officers in order to achieve the mandate of their Ministries.

It has also been pointed out that there is a preponderance of transferees from the States at the commanding height of the Service many of whose competence may be in doubt. When the senior management of the civil service is dominated by officers other than the brightest and the best in its system, ministers and permanent secretaries cannot function at their best as the capacity of higher civil servants to support them in carrying out their functions is largely impaired.

It becomes even more unthinkable and miserable for the system if the incompetence is led at the top by the permanent secretary. Indeed, when permanent secretaries are appointed through political considerations rather than by merit and competence, the likely result is that such officers are incapable of meeting the expectations of this high office and advising impartially without fear or favour.? Their glaring incompetence may be a source of friction between a dynamic minister who wants the job done quickly and a top bureaucrat who is incapable of providing quality advice to achieve the goals of the organization. Regretfully, while ministers get fired for under performance, a virile performance management system has not yet been installed in the Civil Service, hence the worst sanction that a permanent secretary gets for underperformance is for him/her to be posted to another Ministry. This repeats the cycle of incompetence and conflicts across the public service.

Frequent transfer, postings of civil servants and cabinet changes: Frequent transfer and posting of civil servants, including permanent secretaries may also be a contributory factor to the impairment of relations between Ministers and the administrative heads of ministries. Frequent cabinet changes results in ministers not staying long enough in their positions to fully understand the dynamics of the public service.

Resultant effect

The resultant effect is that they are denied the opportunity of acquiring broader/wider experience to build enduring relationship with their Permanent Secretaries to enable them to implement the policies and programmes of the Government diligently and sustainably. These changes are, however, needed from time to time in order to revitalize the system and improve its accountability.

Other Militating Factors

At the forum of Heads of African Public Services held in Tanzania in 2005 , the following were also identified as militating factors against good relationship between political masters and higher civil servants:

(i) Various backgrounds and expectations of ministers,? some of which? are difficult to satisfy? thus resulting in frustration;

(ii) Overwhelming unofficial versus official demands, leading to strained relationships;

(iii) Non-sharing of information and failure by accounting officers to brief the Ministers leading to speculation ;

(iv) Misuse of discretionary powers and application of double standards, leading to conflict; and

(v) General lack of financial resources, affecting programme implementation.

The additional factors which are also noteworthy include:

(i) The personality and leadership styles of both actors, either as a team player, a commander, an ideologue, a manager and an agent;

(vi) Competencies that the Minister brings on the job. The following skills have been identified for good Ministerial performance:

Improving the relationship: It has been established universally that good governance begins with the establishment of quality relationship between the political and bureaucratic leaders. As stated by Richard Rose, ?the metaphorical ship of state has one tiller but two pairs of hands that give it direction, one belonging to party politicians? in elective positions or appointed political leaders (italics mine) and the other to higher civil servants, led by Permanent Secretaries.

Compelling force for progress

The combined efforts of these two parties is a compelling force for progress as exemplified in the First Republic when the political masters and the bureaucratic leaders worked collaboratively to record the milestones in the West, East, North and later Mid _West Regions . This era has often been mentioned as the golden era? in our history.

The key to improved relationship may? lie in the following:

(i) Devising a good strategy to manage the relationship rather than living? it to chance;

(ii) Harmonizing the relationship between ministers and their aides in policy making as a strategic imperative for strengthening and enriching the public service with knowledge and competencies from other sources. This is in view of the need to harness the intellectual capacities and professional depth of highly qualified aides in the delivery of government?s policies and programmes;

(iii) Recognising the need for permanent secretaries and indeed the body of higher civil servants? (italics mine) to align themselves totally with the agenda of their ministers and other political leaders in order to give effect to the President?s priorities as reflected in ministerial responsibilities;

(iv) Appreciating the need for permanent secretaries to earn the respect of their ministers by:

?Demonstrating administrative competence;

?Speaking the truth to power;

?Deploying the best talents to handle emerging core concerns;

?Avoiding negative gossips; and

?Avoiding reinforcing negative opinions and perceptions which may tend to damage the system. Other perspectives on ways to improve the relationship on the part of the political executive are stated below :

(i) a? proper understanding of the administrative functions and recognition of its professional nature;

(ii) As little interference as possible in service matters e. g. postings, transfers, promotions;

(iii) No requests for departures from declared and approved policies to suit individual cases;

(iv) Preparedness to act ethically at all times; and

(v) Clear demonstration of competence on the job

On the part of the bureaucrats the following are essential:

(vi) A sincere and honest attempt to find out what the political head wants and make the necessary adjustment in policies and procedures to suit his/her wishes;

(vii) Readiness to fall in line with his/her political chief in all matters, unless strong grounds indicate a different course;

(viii) Willingness to act professionally and ethically at all times.

Conclusion: Political executives and higher civil servants must understand that they occupy strategic positions in Government.

Collaboration and partnership

Accordingly, their collaboration and partnership is very essential for the proper administration of the State and the achievement of strategic national priorities for advancing the cause of national development.

To this end, it is? vital for them to maintain cordial relations to enable them to continue to render service to the people for the effectuation and sustenance of the social contract that binds the governed and the governors together.

Ministers must ensure that they have good working relationship with their higher civil servants, personified in the permanent secretary, and that they secure their trust and confidence in the performance of their duties at all times with a view to harnessing their collective strengths and capacities for the delivery of public goods.

As individuals with different backgrounds, orientations and experience, they must not allow these differences to undermine the need for collaboration, complementarity and synergy of actions towards fulfilling a common purpose of adding value to the lives of the citizenry.

It is by this that they can be exemplars of service, excellence, probity and integrity in public office which are hallmarks of a worthy legacy that they are required to bequeath in office.

Comments are moderated. Please keep them clean and brief.

Source: http://www.vanguardngr.com/2012/08/relationship-between-higher-civil-servants-and-their-political-masters-4/

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Sunday, August 5, 2012

FEM PROG BAND Epsilon music review by seventhsojourn

4 stars FEM are a young Italian band that are currently working on their first album and in the meantime have released this introductory four-track EP to generate interest in the full- length work. Well, if this votive offering is anything to go by the full album promises to be spectacular. 'Epsilon' is a short but rarefied journey and while the running time is brief the ground covered is incredible.

The band's twin aspirations are to revive the progressive rock of the seventies and to produce introspective music - the glorification and the sufferings of loneliness provide the broad context for this collection. The opening song 'Nella Stanza Vuota' grows out of the sadness and resignation of the singer; the delicately wrought expression of his impassioned vocals in dialogue with electric grand piano have a ghostly effect that accentuates the sense of isolation within the lonely room of the title.

Leaving the singer alone in his empty room of solitude, the other members of the band zigzag through the cultured instrumental 'Fuori Dal Mondo' and this track in its turn prepares the way for the EP's two principal pieces. 'Nel Mezzo Del Cielo', the lyrics of which were inspired by a saying of Leonardo da Vinci's that ponders the subject of human flight, and 'Noi, Granelli Di Sabbia' together span 18 minutes and thus form the heft of this work. These tracks are knee-deep in wonderful instrumental combinations and they give a clear sense of the band's full potential. And by flashing a light onto the past FEM produce a sound that in all respects is oriented to the seventies with its thick coating of analogue keyboards and 12-string and wah wah guitars.

On the evidence of the handful of tracks here FEM have managed to preserve the spirit of the old bands. They also sound as if they could hold their own against any contemporary Italian band. Correspondingly, their forthcoming full-length album may see them disputing possession of the title of RPI album of the year but at the very least it should be awaited with eager anticipation by fans of symphonic prog. 'Epsilon' is currently available as a download from Amazon for a few measly quid and in CD format from the band's official website and BTF Records.

seventhsojourn | 4/5 |

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Review related links

Source: http://www.progarchives.com/Review.asp?id=800407

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Nick Jonas: I'm being considered for 'Idol' judge

Ben Hider / Getty Images file

By Us Weekly

Straight from a JoBro's mouth! Day after Us Weekly reported that Nick Jonas?was a frontrunner to fill one of the two vacant seats at the judges' table of?"American Idol,"?the singer confirmed the possibility -- and his unabashed enthusiasm! -- via Twitter on Saturday.

Photos from Us: 'Idol' judges then and now

"The rumors are true ? I am being considered to be a judge on American Idol," Jonas, 19, wrote to his 4.6 million followers. "And it would be a dream come true if it happens. #nickonidol."

Insiders told Us last Monday that, in the wake of the departures of Steven Tyler and Jennifer Lopez -- plus the rumored transition of judge Randy Jackson to a mentoring role -- both Jonas plus rapper/producer Pharrell Williams were contenders to join the panel. Mariah Carey was confirmed as a new judge July 20, with sources telling Us she'll earn a whopping $18 million a year.

Photos from Us: Most shocking 'Idol' eliminations ever

What makes Jonas a perfect fit? "('American Idol' producers) think he can help bring that younger demo to the show," a source told Us.

39-year-old Williams (who has produced hit records for Britney Spears, Justin Timberlake and Gwen Stefani), meanwhile, is currently negotiating his contract. "Everything is looking good," a source said.

Photos: Amazing 'Idol' makeovers

A rep for FOX had no comment on Monday about Jonas and Williams.

Do you think bringing Nick Jonas on as a judge would help or hurt "Idol"? Tell us on our Facebook page!

Would Nick be a good judge?

Related content:

More in The Clicker:

Source: http://theclicker.today.msnbc.msn.com/_news/2012/08/05/13130776-nick-jonas-im-being-considered-to-be-an-american-idol-judge?lite

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Saturday, August 4, 2012

SooBest's Recipe: Innovation for B2C E-commerce | Business News ...

Released on August 4th, 2012

GUANGZHOU, China, Aug. 4, 2012 /PRNewswire-Asia/ ? As the Internet economy era rises, B2C e-commerce too is constantly evolving. However, the traditional B2C model is no longer able to catch up with the new development in the field. With quite a lot of deficiencies, B2C e-commerce has an urgent need for innovation. How to solve this problem, as well as how to innovate, is what SooBest.com is trying to figure out.

Build a strategic alliance to cope with the logistics bottleneck

Most B2C companies on the Internet are independently run businesses, without effective collaboration with each other, and the result is that these B2C companies only get the access to small regional markets, which does not accord with the characteristics of global economic integration in such an Internet economy era.

In order to adapt to the basic law of the Internet economy and make full use of the potentialities of the B2C model, SooBest must form a strategic alliance, which can lead to not only an increase in the number of customers, but also a resolution of the B2C logistics bottleneck. For instance, treaties on distributions of benefits are signed between SooBest.com?s allied companies. And the data will be shared, which means no matter which site the customer places his order, the goods will be sent from the allied local agency. These local allied companies will also be responsible for the service needed when customers want to return the items for dissatisfaction with the quality or change in their interest. The maintenance and the after-sales service are also undertaken by them. Therefore, to a great extent, the bottleneck of online retailing business has been tackled. Yet moreover, instead of the original access to merely a small customer base of their own, now those allied companies have the whole market owned by the union. The initial limited technical support now has expanded to the domain of the entire strategic alliance and the service one company provides now can be shared by all the allies. What happens next? Certainly there will be more new companies to join in. In addition, due to the external positive effect, the profits earned by the enterprises surely will grow in a geometric ratio.

Create EC 2.0 via technological innovation of Web 2.0

Lots of ideas, technologies, and applications have been widely used within the domain of Web 2.0 and remain the hot focus for researches concerning the continued development of the new Internet. The rise and development of Web 2.0 certainly influence and change e-commerce trends and business models and bring e-commerce onto a new stage of development, namely the E-commerce 2.0 (EC 2.0) era. Developed from the concept of Web 2.0, EC 2.0 means changing the idea of ?web-centered? ? which EC 1.0 features ? to ?user-centered.?

As the application of Web 2.0 keeps developing, SooBest.com will show its EC 2.0 philosophy, focusing on individuals, customer service, interactions with the user, and the win-win situation. Meanwhile the EC 2.0 idea will gradually get to its early stage of becoming mature and favorable for application.

Reduce inventory, and change from B2C to B4C (B for C)

User-centered philosophy, integrity, high value, and full use of Web 2.0, all together constitute the main content of the EC 2.0 concept, of which one key is the shift from B2C to B4C. Putting itself in customers? position, SooBest introduces the new business model of ?procuring by order? ? the B4C mode. Different from the traditional B2C business, where ?to? emphasizes customer-oriented method, the ?for? in ?B4C? means going customer-centered, with ?procurement at reserve prices? and ?zero inventory? to be its core.

The business model with ?zero inventory? and ?procuring by order? means not buying anything before something is bought by the customer. Thus, without any inventory pressure, all of the services and promotions don?t have to go for traditional methods, which are based on the inventory. And now the key to consider is just what customers need and whether the prices are the most updated in accordance with those in the real market. In this way the site will gain strong market competitiveness.

SooBest.com has practiced this business model on some of its product lines, like wedding dresses, women?s clothing, fashion jewelry, cell phones, providing the buyers with professional, objective consulting and procurement services. Besides, SooBest ensures high quality of its products and negotiates the prices directly with the suppliers.

Therefore, EC 2.0 brings a fundamental user-centered change. And B4C is 100% a new service model featuring ?procuring by order? and ?zero inventory.? Only after the customer places an order will the procurement process get started. In the B4C mode, the sellers change from selling-oriented to service-oriented type and decide what to purchase according to what the customers have bought from them.

SooBest has integrated the previous researches on B2C e-commerce development as well as the problems, and the company has done some exploratory studies concentrating on the innovation of e-commerce B2C model, trying to put forward some creative recipes that work universally and more ideas for B2C innovation.

Media Contact:

Amanda
Phone Number: 13560050970
E-mail: release@soobest.com

Source: http://asiarelease.asia/soobests-recipe-innovation-for-b2c-e-commerce/

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Timetastic Simplifies Taking Vacation Days - Small Business Trends

The process of taking time off is not only a pain for employees, but can also result in a lot of added work for employers who need to manage vacation days for multiple employees or departments. Now, a new app,?Timetastic, aims to make it easier for employees to take time off and for employers to manage staff leave.

Timetastic

Currently in beta testing, Timetastic gives companies the ability to manage time off online or via mobile devices. Employees can check their calendar and request time off, and the boss is given the ability to authorize time off simply via email. Everything is recorded instantly, so there is less opportunity for lost communication or error.

Upon signing up, users can view a calendar and select how many days off each employee can request. Then employers can invite their employees, who can select the days they?d like to request off, specify the type of leave, and submit it to their boss for approval. Managers or small business owners can then view a simple wall chart or calendar showing which employees have vacation time and when, so they can avoid clashes between team members.

For small companies without an HR department or with limited HR resources, a simple system like Timetastic could help to reduce paperwork, spreadsheets, and confusion surrounding something as simple as an employee?s request for a day off. Employees don?t need to be in the office to request vacation days, and managers can approve their leave remotely as well.

Timetastic is produced by English-based company Mediaburst, and is currently in its final testing stages. The web app is free for beta users.

Once the application goes live, Timetastic will be free for a company?s first three employees, with an added monthly fee for each additional employee. Timetastic is also building apps for iPhone, Android, and Windows Phone platforms.


About Annie Pilon

Annie Pilon Annie Pilon is a freelance writer specializing inmarketing, social media, and creative topics. When she?s not writing for her various freelance projects or her personal blog Wattlebird, she can be found exploring all that her home state of Michigan has to offer.

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Source: http://smallbiztrends.com/2012/08/timetastic-simplifies-taking-vacation-days.html

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Delays snarl traffic to London's Olympic park

(AP) ? Severe delays were reported Friday morning on a busy subway line serving Olympic venues, on the day that the athletics ? also known as track and field ? competition gets under way.

Transport for London said service on the Central Line, which links the center of the city with the Olympic complex, had been briefly suspended because of a signal failure. Officials said full service was resumed by 9 a.m. after a partial suspension that lasted more than an hour.

The problems developed on what officials expect to be one of the busiest days at the Olympics Park in east London, with some 200,000 people expected for a variety of events.

Friday marks the first day of events inside the 80,000-seat Olympic Stadium.

Officials are also restricting access to an oversize shopping mall next to the Olympic Park for Friday and Saturday because of the large crowds expected. Only ticket holders or accredited workers will be allowed into the mall during the day.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-08-03-OLY-Transport/id-00d2316314374d16b92a244ad1fbe365

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Friday, August 3, 2012

New home construction stalls: 'No land ho!' says industry p2 | Baton ...

New home construction stalls: 'No land ho!' says industry p2

We are still discussing the real estate market and the problems home builders are facing. Sales may be increasing, and prices may be on the rise, but for the most part the improvements have been in existing home sales. This isn't just true in Baton Rouge, either; this is a nationwide trend when housing starts show a 60 percent drop from pre-boom 2002.

The economy may not be the only thing holding home builders back. The glut of housing that hit the market during the boom may have tipped the scales in the suburbs from just the right housing density to overbuilt. Developers focus on large pieces of land -- farms, for example -- where they can put up more than a couple of homes. Unfortunately, those tracts aren't there anymore; they've all got houses or condos or apartment buildings on them.

If developers don't have access to land, then home builders don't have access to developers. The wait is excruciating for some smaller businesses, but the demand from home buyers is just not there.

One home-builder consultant says, too, that developers lucky enough to find open land can't convince the landowners to sell. The farmers are holding out for better prices, but the developers can't pay more until business picks up, and business won't pick up until they can purchase more land and build new homes.

The consultant adds that his company surveyed 13 publicly-traded builders -- these are corporations, not mom-and-pop shops -- about the market. The respondents said that new communities are definitely in decline; in some cases, the rate of decline runs into double digits.

While the trend is nationwide, different parts of the country have had different experiences. The Midwest and the West actually saw increases in new home sales from May to June. The Northeast fared worst, with a 60 percent decline from May to June. The South? We saw a modest decline of about 8 percent.

Source: The Wall Street Journal, "Land Problem Weighs on New Home Sales," Robbie Whelan, July 25, 2012

Source: http://www.batonrougerealestateattorney.com/2012/08/new-home-construction-stalls-no-land-ho-says-industry-p2.shtml

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Extreme Heat Biggest Weather Killer, Expert Warns

FRIDAY, Aug. 3 (HealthDay News) -- Heat waves are more deadly than even the most devastating hurricane, blizzard or tornado, evidence indicates.

Richard Keller, a professor of medical history at the University of Wisconsin-Madison, analyzed the 2003 heat wave that descended over parts of Europe and claimed the lives of 70,000 people. The high-pressure system resulted in the hottest weather in more than 500 years, he found. The extreme heat melted electrical cables, liquefied museum specimens, prevented nuclear reactors from being cooled and caused water pumps to fail.

France was hit particularly hard by the heat wave, facing temperatures above 100 degrees Fahrenheit on seven days, Keller noted. According to official records, more than 14,800 people died in Paris alone. The extreme heat occurred during a time when many government officials and physicians were on vacation and unclaimed bodies overwhelmed undertakers and mortuaries.

To put that heat wave into perspective, Keller compared its effects to the devastation of Hurricane Katrina that occurred two years later. The floods resulting from the hurricane that hit New Orleans and the Gulf Coast in 2005 killed 1,836 people.

Keller pointed out that the death toll during the 2003 heat wave was exacerbated by variables, such as victims' age, social status and gender. He explained that many elderly women who lived alone in poorly ventilated walk-ups in Paris succumbed to the heat.

"People who lived in these apartments died like flies," Keller said in a university news release. "This was as much a social as a health and epidemiological disaster. There were social factors that made some people much more vulnerable."

Older people are at greater risk from heat-related illnesses because they often don't notice the effects of dehydration, he warned, and many of the medications older people take could worsen the effects of extreme heat.

Living alone was another factor that contributed to deaths during the heat wave. "The single biggest factor for dying was if you lived alone," Keller said.

"Vulnerability to extreme events is more complex than we know and we need to think about broader-scale adaptation," Keller concluded. "We have to recognize that heat kills far more people than the cold and that those most likely to die are people on the social margins of society."

More information

The U.S. National Library of Medicine has more about heat-related illness.

Source: http://news.yahoo.com/extreme-heat-biggest-weather-killer-expert-warns-160412542.html

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Chinese Markets for Automotive Aftermarkets - Market Research News

China?s demand for automotive aftermarkets has grown at a fast pace in the past decade. In the next five years, both production and demand will continue to grow. This new study examines China?s economic trends, investment environment, industry development, supply and demand, industry capacity, industry structure, marketing channels and major industry participants. Historical data (2001, 2006 and 2011) and long-term forecasts through 2016 and 2021 are presented. Major producers in China are profiled.

Original Post Chinese Markets for Automotive Aftermarkets source Researchmoz Market Research
Machines Reports

Source: http://www.healthcarestoreonline.com/wiki/chinese-markets-for-automotive-aftermarkets

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Thursday, August 2, 2012

Argentina celebrates bond payoff as end of an era

Argentina's President Cristina Fernandez speaks at an event marking the 158 anniversary of the stock exchange in Buenos Aires, Argentina, Thursday, Aug. 2, 2012. Fernandez is celebrating the upcoming final $2.3 billion payment on Friday on a bond given to people whose savings were confiscated a decade ago, calling it a lesson for European countries now mired in foreign debt. (AP Photo/Eduardo Di Baia)

Argentina's President Cristina Fernandez speaks at an event marking the 158 anniversary of the stock exchange in Buenos Aires, Argentina, Thursday, Aug. 2, 2012. Fernandez is celebrating the upcoming final $2.3 billion payment on Friday on a bond given to people whose savings were confiscated a decade ago, calling it a lesson for European countries now mired in foreign debt. (AP Photo/Eduardo Di Baia)

FILE - In this Dec. 20, 2001 file photo, mounted police charge anti-government demonstrators in Buenos Aires, Argentina. Argentina had just defaulted on more than $100 billion in foreign debt, banks were shuttered, the economy was in ruins and streets were filled with pot-banging protesters whose chants of "throw them all out" would send five presidents packing. Argentina's government is now celebrating their upcoming Aug. 3, 2012 payoff of ten-year bonds given to people whose savings were confiscated a decade ago, suggesting it is a lesson for European countries now mired in foreign debt. (AP Photo/Walter Astrada, File)

FILE - In this Feb. 20, 2002 file photo, demonstrators kick the steal covered front of a bank in Buenos Aires, Argentina, demanding the return of their deposits in dollars and not in pesos. Argentina had just defaulted on more than $100 billion in foreign debt, banks were shuttered, the economy was in ruins and streets were filled with pot-banging protesters whose chants of "throw them all out" would send five presidents packing. Argentina's government is celebrating their upcoming Aug. 3, 2012 payoff of ten-year bonds given to people whose savings were confiscated a decade ago, suggesting it is a lesson for European countries now mired in foreign debt. (AP Photo/Daniel Luna, File)

Argentina's President Cristina Fernandez speaks at an event marking the 158 anniversary of the stock exchange in Buenos Aires, Argentina, Thursday, Aug. 2, 2012. Fernandez is celebrating the upcoming final $2.3 billion payment on Friday on a bond given to people whose savings were confiscated a decade ago, calling it a lesson for European countries now mired in foreign debt. (AP Photo/Eduardo Di Baia)

(AP) ? Bond payoffs are supposed to be boring, but Argentina's president is celebrating Friday's final $2.3 billion payment on a bond given to people whose savings were confiscated a decade ago, calling it a lesson for European countries now mired in foreign debt.

The nation's economic disaster left thousands with a grim choice after the government seized their dollar-denominated deposits to stop bank runs in 2002. They could switch to devalued pesos and regain access to what was left of their savings, or accept a piece of paper promising to repay the money in dollars over the next 10 years.

Few had any faith in the government's promises back then. Argentina had just defaulted on more than $100 billion in foreign debt, banks were shuttered, the economy was in ruins and streets were filled with pot-banging protesters whose chants of "throw them all out" would send five presidents packing.

But Argentina has mostly paid up after all, making good on 92.4 percent of that defaulted debt so far, including $19.6 billion in U.S. currency over the years to cancel the Boden 2012 bond. Most of the hard-luck account-holders later sold the bonds at a loss, but as the government makes its last $2.3 billion payment on Friday, the few stalwarts who kept the faith have been made whole, while earning a modest 28 percent profit over the years.

"It was good business" for anyone who got the bonds early and held them, said Jorge Oteiza, a bond trader with Banco Comafi in Argentina. "To have the same buying power you had back then isn't bad."

President Cristina Fernandez praised her government for meeting its commitments and blamed multinational financial institutions for the debt crises that afflicted Argentina back then and threaten Europe today.

"This is the money that the banks should have returned to the Argentine citizens," she said during a national address from the Buenos Aires stock exchange Thursday night. Showing charts and rattling off numbers, she argued that her government has shown the world how to emerge from default without imposing austerity measures, while growing its economy and strengthening the social safety net.

This debt relief "has given us an immense independence from the activity of the market," she said to applause from the hundreds of guests she had invited onto the exchange floor.

Argentina's foreign-currency debt has dropped from a daunting 166 percent of GDP at the end of 2002 to a more manageable 42 percent of GDP at the end of 2011, said Ramiro Castineira of the Econometrica consulting firm. "If before it was a burden to shoulder, now it's just a handbag. It doesn't restrict the economy as it did in the past," he said.

However, the debt has grown in nominal terms during the same period, from $137 billion to $179 billion.

Many economists suggest the official story is misleading at best, since the government has refused to pay billions of dollars in other bad debts while borrowing freely within Argentina, taking money from pension funds, provinces, state-owned banks and the central reserve to stimulate the economy and reduce its foreign debt exposure.

In her determination to make Argentina financially independent, critics say Fernandez has only shifted the debt burden onto her citizens, imposing terms that could stunt the country's future growth. For example, the government promised to pay negative 0.25 percent interest over 10 years for the $27.9 billion it took from the central bank for debt relief.

"It's wonderful to see Argentina pay down debt, but for every dollar they're paying down, they're borrowing two or three through the other window, and increasingly from their own people," said Arturo Porzecanski, an expert on emerging markets at American University in Washington.

Economy Minister Hernan Lorenzino proudly described the Argentine recipe in a column Wednesday published by Telam, the government news agency: Spurn the requirements of the International Monetary Fund and World Bank. Strong-arm the so-called "vulture funds" into accepting lower returns on their risky bets. Nationalize private pension plans, the airline and now the YPF oil company, putting their assets to use creating jobs. And tap central bank reserves to pay down international debts.

Frozen out of international markets as a consequence of the 2002 default, this government made breaking their rules a point of pride, Lorenzino suggested.

"At first, they called us heretics and the international community turned its back on us," he recalled. But "this government makes policies today without conceding to international pressure, thinking first of those on the inside, and later on those outside."

Lorenzino has said this government will not take on more international debts. Not that it could: Friday's payoff still doesn't resolve nearly $7.5 billion it owes the U.S. and other Paris Club nations, or the $11.2 billion claimed in U.S. courts by bond holdouts.

Argentina also owes millions in court judgments to U.S. companies, and Spain's Repsol Group wants $10.5 billion for its shares in YPF that Fernandez expropriated this year. Many of these investors would try to seize any newly borrowed money before it reaches Buenos Aires.

Lorenzino suggested that Argentina's renegade approach makes it better prepared to confront global crises because the portion of its debt held by the private sector has dropped from 124 percent of GDP a decade ago to 14 percent last year. "This was possible only under the concept of economic independence, political sovereignty and social justice," Lorenzino wrote.

But this shift from private to public debt means that the government is essentially borrowing from Argentine taxpayers and bank account holders to stimulate its economy, at rates far below inflation, which is estimated at 25 percent a year or more. Unless this changes soon, the money could run out and there will be few other places to turn for help.

"This is no longer an 'us-versus-them' problem," Porzecanski said. "At first they went after the big multinationals, then the 'filthy-rich bondholders,' then powerful institutions like the IMF. Now it has become a fight for financial resources within Argentina. That's why I think the end is coming."

___

Associated Press Writer Almudena Calatrava contributed to this story.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-08-02-Argentina-Debt%20Payoff/id-4fbe88cdbe11457aa248f1b11213fb29

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