text:
An update on the present status and possible future of this sometimes controversial gun dog.

“Point!” my hunting partner hollered as he took off running up a fenceline in the direction of his gun dog.

“Point?” I thought to myself, feeling a little confused, because the only “official pointing dog” we had with us was my German shorthaired pointer who was in the back of my pickup recovering from a fresh barbwire cut that required 10 stitches.

Nonetheless, I followed my friend up the weed-choked fenceline and arrived in time to see Sugar, his three-year-old yellow Labrador, standing and staring into the dense vegetation. Though her tail was wildly wagging and all four feet were planted on the ground, “She could be pointing,” I remember thinking.

A half-second later, Sugar charged into a clump of thick foxtail. A rooster pheasant rocketed up against the blue sky, cackled once, took a flight path, then crumpled and fell at the boom of my buddy’s 12-gauge. The yellow Lab leaped across the fence into the adjacent corn stubble and quickly retrieved and delivered to hand the stone-dead ringneck.

“Every once in a while, Sugar will point gamebirds,” her owner later said. “And though her ‘points’ don’t last very long and her ‘pointing’ isn’t a consistent habit, it is handy for me because I can sometimes get closer to many birds before she flushes them.”

Though this experience with a Labrador-retriever-that-also-points may not be all that unusual today, 30 years ago when this episode took place, seeing a Labrador that pointed gamebirds was fairly unique. Since that time, however, pointing Labrador retrievers have become more common, bloodlines of pointing Labradors have been clearly developed, pointing Lab organizations have been created, and thousands of pointing Labrador breeders, owners, trainers, handlers, and hunters have fallen in love with these “specialized” gun dogs.

Breed it into them or train it out of them? This is the big question about the pointing instinct in Labradors, a question that certainly touches on several issues having to do with the original purposes and modern day direction taken in the development of this breed of gun dog.

None of these developments in the history of the pointing Labrador, however, has taken place without some confusion, some controversy, and some opposition. There are some, in fact, who say that making the Labrador “retriever” into a “pointer” is guaranteed to take the breed in the wrong direction. In the meantime, though, the pointing Labrador’s popularity is steadily growing, more breeders are producing pointing pups, more trainers are working with these dogs, and more hunters are using pointing Labradors for waterfowl and for upland gamebirds.

The controversy regarding pointing Labrador retrievers centers around a number of questions. What is a “point” in a “pointing” Lab? Is a Lab’s point an instinctive or a trained behavior? Will developing the pointing behavior in a Labrador compromise this breed’s bird-flushing and retrieving efficiency? Is breeding any type of gun dog for just one trait a good idea?

“The kind of point and the quality of the point made by a pointing Lab are really two issues to be considered in judging this retrieving breed for its pointing potential,” says Tom Dokken of Oakridge Kennels in Northfield, Minnesota. As a full-time trainer of all breeds of gun dogs, Dokken has worked with pointing Labradors for many years.

“One question to ask about pointing Labs is: Should this breed of dog be pointing in the first place? After all, Labradors are usually classified as ‘flushing’ dogs, bred and trained to find then quickly push up any upland gamebirds with hard-charging and unhesitating enthusiasm. As with all flushing dogs, many owners, handlers and trainers would fault any flushing breed for ‘pausing’ before pouncing on a bird to put it into flight,” Dokken says.

“For a Labrador owner who decides that it’s okay and actually desirable for a Lab to pause and point, the next question is, what quality of point can you expect to get from these dogs?” Dokken adds. “With recognized pointing breeds, the duration and hardness of a point are really important. For example, when English setters go on point, most can be picked up by hand and re-positioned without coming off point–that’s how intense the pointing instinct is that has been bred into these breeds.

“With Labradors, however, this duration and intensity can be a problem that is often dealt with by teaching ‘whoa’ as a way to extend the length of time the dog will remain in a pointing posture,” Dokken says. “Now, though, a new issue arises: Does this dog have a natural instinctive point or is this point being taught and learned? “The reason any dog ‘points’ game is that all canines–wolves, coyotes, and foxes–when sneaking up on any potentially edible animals, will ‘pause’ just before they leap in for the kill. This is the theory, anyhow. When human hunters noticed this trait in some of their hunting dogs, they started to breed for it. Eventually, the pointing breeds evolved,” Dokken explains.

“This same ‘pausing-pointing’ behavior sometimes appears in the retrieving and flushing breeds, Labradors in particular. And, once it’s identified as ‘strong’ in some lines of Labs, it can be bred for. For anyone judging the quality of the pointing instinct in a pointing Lab, making the distinction between a ‘natural’ and a ‘taught’ point is obviously important, especially when making decisions about buying pointing Lab puppies or training adult dogs,” Dokken concludes.

Will the willingness of a Lab to point diminish the dog’s ability to make a strong flush on upland gamebirds? Can the pointing behavior be reconciled with a hard flushing requirement? Aren’t the two traits contradictory?

Gerald and Dawn Walker of Peyton, Colorado have raised pointing Labrador retrievers for several years and, along with their three kids, have entered their pointing Labs in AKC obedience and hunt tests. All of the Walker dogs are certified in the various levels of the American Pointing Labrador Association’s testing program, as well. Plus, their dogs are used to hunt the full spectrum of upland gamebirds and waterfowl. From left to right are Micah, 12; Nathan, 14; and Hannah, 10; each with their own personal gun dog. Gerald Walker is the President of the American Pointing Labrador Association.

“When hunting pen-raised pheasants on preserves or wild pheasants anywhere, I sometimes use my
German shorthaired pointers to both ‘point’ and ‘flush’ pheasants,” says one of my hunting partners. Though he asked to remain anonymous to prevent any criticism or ridicule that might be heaped upon him by his fellow NAVHDA trainers and judges, I can say I’ve seen his NAVHDA Invitational Champion (perfect score) male “flush” pointed pheasants that we couldn’t have otherwise easily kicked out of dense cover ourselves.

“Generally, almost all of my German shorthairs come to learn the difference between a rooster that just won’t leave the thick cover and one that will fly up, if pressured, when I’m still 50 yards behind,” my friend says. “When I give one of my German shorthairs on point the ‘fetch’ command, he will dive into the cover and ‘flush’ whatever is there with as much enthusiasm as any springer spaniel or Labrador retriever,” he adds.

“If German shorthairs can learn and practice a different set of techniques to sometimes point and sometimes flush their birds, couldn’t other breeds of gun dogs do the same?” is a rhetorical question most pointing Labrador fans are quick to present.

“Breeding any kind of dog for just one trait often can be a mistake because other important breed characteristics might be diminished or possibly lost in order to develop that one feature,” warns John Luttrell, a Labrador breeder, trainer and AKC Hunt Test Judge from Clark, South Dakota. “This is one reason I won’t breed Labradors for specific color. Instead, I will bring two lines together in order to get a broad spectrum of qualities such as desire to retrieve, great cooperation, good temperament, and strong stamina. If a chocolate or yellow puppy comes out of the litter, so be it, if someone wants one,” Luttrell says.

“This same ‘broad spectrum’ breeding principle should apply to the ‘pointing trait’ in Labradors. Breed for a wide range of generally desired and accepted Labrador characteristics and, if a few pups from the litter want to point, that’s okay. But breeding only for pointing potential is possibly going to produce otherwise inferior offspring. This would certainly go against general dog breeding theory and good practice,” Luttrell adds.

Should all gun dog breeds be restricted to a specific and narrow range of standards? For instance, should an English pointer only be expected to find quail or grouse or pheasants and point themÂ…but not retrieve them also? On a Minnesota northwoods ruffed grouse hunt a few years ago, I followed a pointer and her owner through some of the best grouse cover I’ve ever seen and saw some of the best pointing I’ve ever witnessed. We shot a limit of ruffs and several woodcock.

But that pointer never retrieved a single bird. “She’s a pointer, not a retriever,” her owner said as we poked around in the brambles looking for dead grouse and a wounded woodcock. And, yes, I know, some pointer lines have some ‘retrieve’ bred into them, and some trainers say that any gun dog can be force-trained to fetch. This pointer owner-breeder-trainer-field trialer-hunter, however, had some dogmatic ideas on this subject. And, while his dog was running off in the far distance looking to point another grouse, we were looking for a dead bird–along with a couple others that we never found.

Should a Labrador retriever only retrieve and never be bred, encouraged, or trained to point gamebirds? Last pheasant season, a friend and I hunted ringneck pheasants behind a five-year-old yellow Lab. “Buster’s on point,” his owner whispered as we looked 100 yards up a cut cornrow to see the dog standing stone-still and staring into a clump of tangled kochia weeds.

“Shouldn’t we hurry?” I asked my buddy as we walked, not ran, toward where Buster was waiting. This question was answered a minute later when we came up behind Buster, who was then told to “Get ‘em!” Buster charged the cover, and a hen flushed first and flew away. Then a rooster cackled into the sky, met a load of No. 6s, stopped in a halo of flying feathers, and crashed into the thick cover. Buster was on the bird in a second, found it immediately and then brought it to his owner’s hand in the classic style of the Labrador retriever.

Should Buster have pointed this bird? I know I had no objection. Others, however, feel just as strongly that the “pointing instinct” in Labrador retrievers absolutely should not be perpetuated. “Beat it out of them and breed it out of them,” was the way another Lab owner-breeder-trainer-field trialer-hunter put it. He is totally convinced that the main purpose of any Labrador hunting upland game is to quickly flush upland gamebirds and to retrieve dead ones. Any “pausing” or “pointing” on a Lab’s part is a fault to be avoided by any means possible–period, end of discussionÂ…in his opinion.

“Say what you want about pointing Labradors, but they’re here to stay,” says Danny Allen, one of the original organizers, former president and present board member of the American Pointing Labrador Association (APLA). This attitude is reflected by hundreds of Association members as well as thousands of other pointing Labrador owners across the country.

Most agree that the pointing Labrador retriever can hunt, point, flush, and retrieve upland gamebirds with the same degree of efficiency as many other breeds of gun dogs.

The final “field test” for any pointing Labrador is whether the dog hunts–that is, finds, points and retrieves upland gamebirds.

For those who can accept that pointing Labrador lines actually exist within the Labrador retriever breed, there has been and will be a continuing effort to improve the pointing Labrador as a type of gun dog. Though many individual and independent pointing Lab breeders have produced some viable pointing Labs, the most organized and recognized success in breeding the pointing lines has come through the efforts of the American Pointing Labrador Association.

Formed in 1991, the APLA is made up of pointing Labrador enthusiasts dedicated to improving this line of gun dog through a formalized testing program and organized breeding procedure. Originally the APLA’s main purpose was to merely identify pointing Labs by having two judges observe any Labrador point a gamebird for three seconds. This elementary test has now grown into a much more sophisticated and meaningful series of tests that include a basic certification of pointing Labrador’s pointing abilities as well as overall hunting capabilities.

These formalized tests begin with a basic certification designed to evaluate a dog’s natural ability and basic trained behavior with emphasis on apparent obedience and proficiency in hunting upland gamebirds and performing land and water retrieves. In this test, dogs are scored on point as well as nose, search, cooperation, desire, retrieving ability and water work. Pointing ability, then, is only one of several key components in a dog’s overall score.

The “Intermediate” level provides an advanced format requiring the Lab being tested to demonstrate proficiency in hunting upland gamebirds (quail, chukar, or pheasants) placed randomly in a 20-acre field. Two APLA qualified judges evaluate the dog on effective nose, intensity and duration of point (a motionless point of 10 seconds without a “steady” command from the handler), a methodical search for game, a high degree of cooperation, an evident desire to please, and efficient land and water retrieves.

The “Master” and “Grand Master” tests include all the categories of the previous tests but with a greater emphasis on reliability in pointing, retrieving and searching, nose, stamina, desire, cooperation, and obedience. These two tests “will prove the versatility of the pointing Labrador as an all around working dog bred and developed for both upland and waterfowl hunting.” For the upland portion of the test, the dog must establish point on its own prior to any verbal command given by the handler. Points must be intense and unmistakable, showing an instinctive response to scent, as opposed to a sight point. In addition, the tested Lab must be steady to wing and shot, perform a productive search by hunting with its nose while maintaining a cooperative contact with the handler.

These two highest-level tests also include marked land retrieves, blind land retrieves, and marked water retrieves with blind steadiness. Desire to work, stamina, nose quality, obedience, retrieving, marking, retrieving desire and retriever steadiness all put these two tests on a level of difficulty to similar tests conducted by the AKC, UKC, and North American Hunting Retriever Association (NAHRA).

As the APLA Testing Rules indicate, this organization has done much toward creating solid and meaningful ways to measure the strength of these dogs both as pointers and all-around gun dogs.

In talking with several pointing Labrador breeders and trainers, as well as members of the American Pointing Labrador Association, I’ve gathered and condensed some suggestions given for finding a pointing Labrador puppy.

  1. Do your homework. Read about pointing Labradors by looking for articles on the subject in this and other magazines. Check out ads in these same publications and call the breeders with specific questions about their puppies. Are they APLA members? Do their dogs have titles from this organization as well as in AKC, UKC or NAHRA tests?
  2. Insist on OFA-ed and CERF-ed dogs. And remember that “good” scores on these tests are only general indicators of quality, not absolute guarantees that the hips and eyes of a pup or an adult dog will be absolutely perfect.
  3. Look carefully at the pup’s parents to evaluate how the pups might turn out. If you can’t actually witness in person how the parents point, quarter in the field, or retrieve from land and water, then ask the breeder for a videotape showing the mom and dad doing all these things.
  4. Consider puppies from “repeat breeding”–especially if pups from previous litters have shown exceptional pointing ability along with all the other desirable traits of well-bred Labradors. Ask the puppy’s breeder for references from satisfied owners of these pups. And call these dog owners to ask very pointed questions based on information gathered from doing your homework as well as reading this article.
  5. Ask any breeder with puppies for sale about the parents’ “intensity and duration of point.” These have always been matters of concern for owners, breeders, trainers, and hunters of pointing Labs. Twenty years ago, when the formal recognition of the pointing instinct in the Labrador first started to grow, how well and how long a Lab pointed didn’t seem to matter all that much. Almost any Labrador that made a “pause” or stopped for a “look” in the presence of gamebirds could be considered a “pointer.”

An Important Book On Pointing Labs
The Pointing Labrador by professional gun dog trainers Paul and Julie Knutson is a 254-page paperback ($25.00 from Clinetop Press; 970-984-3801) that answers such questions as: What is a pointing Lab? Why a pointing Lab? Are there differences between a pointing Lab and a flushing Lab? Because they have guided 13 Labs to the status of “Grand Master Pointing Labrador Retriever,” the Knutsons’ opinions are worth reading.
The book is most of all a training manual that starts with “Finding a Puppy” and “Starting Early Pointing Work” and progresses through all the standard steps of retriever training in general. Included are chapters on basic obedience, introduction to water, whoa and whistle training, the force fetch, and use of the e-collar. In addition to being the only training book on the subject of pointing Labs, The Pointing Labrador is also a solid guide to training any Labrador or other breed of retriever.

Today, however, many pointing Lab fans that judge the degree and length of concentration their dogs exhibit when pointing any species of gamebird expect more. This trend toward improving intensity and duration of point will play a big part in the future of these dogs with more breeders striving to put these qualities into their puppies and more hunters expecting harder and longer points from their gun dogs.

As a longtime fan, hunter, and owner of German shorthaired pointers, I’ve sometimes heard the claim that this breed is “a jack of all trades but a master of none.” This description suggests that although GSPs are classified as pointers, their pointing ability is compromised because they are also expected to be reliable retrievers on land and water.

Gun dogs bred only as pointers, the argument goes, are true specialists and therefore genuine masters at pointing gamebirds because that is the one thing these breeds are bred to do. So if you want a dog that superbly points, you should look for an English pointer or setter. Similarly, if you want an excellent retriever, you should get a Chesapeake, golden or Labrador retriever because this is their main purpose and what they are born to do.

Consequently, according to this line of thinking, anyone who seriously hunts upland gamebirds and waterfowl actually needs two gun dogs. In reality, however, considering where most wingshooters spend most of their non-hunting time (city or suburbs), one gun dog of any breed is all they can afford, train and care for.

“Though the phrase ‘pointing Labrador retriever’ may sound like a contradiction in terms, it is actually more confusing than contradictory,” says Danny Allen. “Think of the pointing Lab as, first of all, a basic retriever that also happens to point. In considering a purchase of one of these dogs, the prospective buyer should look for the standard Labrador qualities, and then judge the dog’s pointing ability. This is the direction the APLA is moving, and it’s a direction that is definitely improving this type of Labrador.” This could certainly be good news for anyone who wants a
Labrador to serve as a retriever. And, oh yes, if given the opportunity, this gun dog will also point gamebirds.

For information on the APLA call 719-683-6486 or 219-345-5227.

Load Comments ( )

Don’t forget to sign up!

Get the Top Stories from Gun Dog Magazine Delivered to Your Inbox Every Week


Content-Type: application/http; msgtype=response

WARC-Truncated: length

WARC-Type: response

text:
Switch to:

Personalized Checklist

Checklist Items / Related Parameters
Within your circle of competence?
Macro economic environment favorable?
High quality business?
Enough margin of safety with stocks?
Gurus are buying?
Insiders are buying?
Management capable and shareholder friendly?
Catalyst for stock price to appreciate?
Your level of confidence with the research?
Checked: 0 / 0 - Total Score: 0.0 / 5

Research Parameters

Research Note

You have an error in your SQL syntax; check the manual that corresponds to your MySQL server version for the right syntax to use near 'and note>0 and symbol='GLNG' and exchange='NAS'' at line 1

Fair Value Votes

(1 vote)
Log in to vote

GLNG Vote Details

Page 1 of 1
UserAskDate VotedFair Value Price on Date Voted% Change
Since Voted
% Change
Relative to SP500
Ask Why 4 months ago $32$17.1117.94 %12.96 %
Ask Why 2 years ago $27$48.89-58.72 %-69.91 %
Ask Why 2 years ago $40$46.87-56.94 %-69.62 %
Ask Why 2 years ago $151$36.41-44.58 %-63.32 %
Ask Why 2 years ago $172$36.29-44.39 %-61.74 %
Ask Why 3 years ago $31.9$36.51-44.73 %-83.58 %
Ask Why 3 years ago $32$35.37-42.95 %-81.93 %
Ask Why 3 years ago $28$38.22-47.2 %-97.67 %
Ask Why 4 years ago $27.8$39.84-49.35 %-102.84 %

Latest Votes

Most Voted Stocks

Most Under Priced Stocks

Add Notes, Comments

If you want to ask a question or report a bug, please create a support ticket.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

warcinfo:
robots: classic
hostname: ip-10-153-172-175.ec2.internal
software: Nutch 1.6 (CC)/CC WarcExport 1.0
isPartOf: CC-MAIN-2016-36
operator: CommonCrawl Admin
description: Wide crawl of the web for August 2016
publisher: CommonCrawl
format: WARC File Format 1.0
conformsTo: http://bibnum.bnf.fr/WARC/WARC_ISO_28500_version1_latestdraft.pdf


text:
New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Guru News and Commentaries
Guru News, Stock picks and commentaries
New Topic
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicLog In
The Portfolio of Mr. Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: Mycroft Psaras (IP Logged)
Date: January 13, 2012 05:38PM

The following is an analysis of the most current portfolio of Mr. Zeke Ashton. The analysis will use a system that I designed that is based on the ratio that Mr. Warren Buffet released to the public in 1986, which he coined “Owner Earnings.” For those new to this type of analysis, I would recommend reading an introduction to my system by clicking here. My goal is ultimately to analyze the portfolios of each Guru highlighted here on Guru Focus, and then to subsequently re-analyze them every quarter when possible as changes are made. My purpose in writing these articles is to show the power of Mr. Buffett’s ratio in analyzing stocks, ETF’s, Mutual Funds and individual portfolios. If one can fill their portfolios with companies that score high using my system and avoid those which fail, one should be able to increase the probability of becoming a successful investor in my opinion. Profile of Mr. Ashton:

Mr. Ashton is the managing partner of Centaur Capital Partners and manages the investments for the Centaur Value Fund. He is also manager of the Tilson Dividend Fund (TILDX), which is ranked 5 stars by Morningstar. Previously Mr. Ashton was employed as an investment analyst for The Motley Fool (TMF). While at TMF, Mr. Ashton developed and produced investing seminars, subscription investing newsletters, and stock research reports in addition to writing online investing articles. Mr. Ashton also wrote investment columns with an emphasis on value investing for TMF on a free-lance basis. Prior to his work at TMF, Mr. Ashton was employed as a senior analyst and project manager in the Zurich, Switzerland office of Infinity Systems, where he provided financial system consulting to Swiss regional and private banks. From 1995 to 1999, Mr. Ashton was employed as a senior analyst and project manager for Wall Street Systems, a New York-based treasury and risk management software company. In this role Mr. Ashton provided consulting services to various clients in Germany, Italy, and the United Kingdom. Mr. Ashton graduated from Austin College in Sherman, Texas in 1995 with degrees in Economics and German.

Before I begin this analysis, I would like to first disclose that I know Zeke personally as we worked together at the Motley Fool from 2000-2001. I also did not discuss this article beforehand with Mr. Ashton prior to writing it. Though I personally consider Zeke one of the best value investors living as well as a great portfolio manager (from my following his career closely for more than a decade) but that does not mean I will take it easy on him in this analysis. I will let his portfolio do the talking for him and the objective results will be derived from putting him through the same rigorous system analysis that I will put every other Guru through.

So let us begin by presenting his portfolio as analyzed by my system:

As you can see from the high rankings in the table above that Zeke is a serious student of Warren Buffett and must be a true believer in the power of owner earnings. Out of the twenty non-financial stock holdings in this portfolio he has 14 (70%) coming in with a price to owner earnings of less than 15 and 15 (75%) coming in with a CapFlow of less than 50%. Only in the FROIC department has he underperformed with only 7(35%) of his stocks coming in at 15%+. Like Mr. Weitz (that I wrote about yesterday), it is very hard to find companies that are pure value plays that also have strong FROIC’s. This is so because as a classic value investor (which Zeke clearly is) price to book value plays a big part in any classic value investor’s stock selection.

I am very impressed with his stock pick P.F. Chang’s China Bistro (PFCB) and will have to look into that for my own client’s portfolios. Just that one example shows you the power of GuruFocus as a research tool. In my work I go through 7000 stocks every quarter and I find it refreshing to be able to look at what other Pros are buying and selling without having to do all the research on my own. I can also type in a ticker in the quote search box and find out which Guru’s own a stock I am interested in, within seconds. GuruFocus gives me a clear advantage over my fellow pros, who don’t subscribe to the premium service. Performance is everything in my business and having over 100+ Guru’s best ideas at my fingertips helps me find some very interesting stocks to buy. Dr. Charlie Tian has created something amazing here and someday it will become part of every pro’s and serious individual investors research. How else can you find great stock picks like PFCB that Zeke found?

But with every compliment I also am not shy about criticizing and I took a look at his smaller holdings like TransAtlantic Petroleum (TAT), Himax Technologies (HIMX) and IDT(IDT) and couldn’t come up with a reason why he bought those and walked away scratching my head. But those are just tiny holdings so we will let them slide. I also can’t understand his Coinstar (CSTR) purchase but he is up big on that one, so he must have found out some point that eludes me in my research.

Zeke is a Hedge Fund manager and thus has the ability to buy Puts and Calls and from reviewing those positions I am especially impressed with his Puts that you can find by going here

With the Eurozone ready to blow up, I think with the puts he has in place he will be able to practice “capital appreciation through capital preservation” as those three positions will make him a lot of money if the Eurozone blows a gasket due to the downgrades that are coming from the major rating agencies.

Therefore when we do our final score on Zeke’s portfolio we get 1.80, so he is still below the master Warren Buffett, but being considered second to Warren Buffett is not a bad thing. The final score is a non-weighted average of each portfolio’s total score divided by its total non-financial holdings.

Disclaimer: Always remember that these are the results of our research based on the methodology that I have outlined above and in other articles previously published. This research is provided as an educational tool and should not be considered investment advice, but just the results of our research. There are many ways to analyze a stock and you should never blindly follow anyone’s work without doing your own due diligence or by seeking the help of an investment advisor, if you so need one. As Registered Investment Advisors, we see it as our responsibility to advise the following: We take our research seriously, we do our best to get it right, and we “eat our own cooking,” but we could be wrong. Please note, investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results. Strategies mentioned may not be suitable for everyone. We do not know your personal financial situation, so the information contained in this communiqué represents the opinions of Peter “Mycroft” Psaras, and should not be construed as personalized investment advice. Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for you. Before acting on any information mentioned, it is recommended to seek advice from a qualified tax or investment adviser to determine whether it is suitable for your specific situation.

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 3.0/5 (12 votes)

Re The Portfolio of Mr Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: Adib Motiwala (IP Logged)
Date: January 15, 2012 12:01AM

Thanks for this analysis. I agree that Zeke is a really good investor and Portfolio Manager.I have a comment and a question or two.

Comment: You refer to Zeke as a classic value investor and that he would rely a lot on Price to Book. I am not sure I agree with this assessment. From what I know and read about Zeke, he relies a lot on FCF or Owner Earnings.

Question: Are you using TTM numbers for this analysis? I am surprised to see 0 for WDC, a stock I own.

This is my analysis based on my interpretation of your system and using numbers from FY 2011. For owner earnings, I used Cash From Ops - Total Capex. (Means I included working capital changes)

In FY2011, Op Cash Flow was $1900 million. Capex was $761 million. Owner Earnings = $1137 million.

Capflow = 761/1900 = 40% (+1).
FROIC = 1137 / 5650 = 20% (+1)
P/Owner Earnings = 7800 / 1137 = 7 (+1)

Total 3/3.

One more point that I keep thinking as I read your articles. You refer to "Owner Earnings" and my understanding of Owner Earnings is Net Income + Depreciation/Amortization - Maintenance Capex. ( _ ). It ignores Working Capital changes and growth capex. While for free Cash Flow, I use Cash From Ops - Total Capex, which accounts for working capital changes and subtracts total capex including growth capex. It seems FCF definition is more conservative in some sense. (Though there are times when working capital changes over the year makes FCF look much better than it really is. In those cases, I always compare FCF to Owner Earnings as well). ValueLine seems to be using the latter definition and not the owner earnings definition.

So, if you do not mind, can you provide the numbers for Owner Earnings and capex for WDC that you used for this article.

thanks a ton for this series. It is quite interesting.

Disclosure: I am long WDC, BIG and PFCB from the above list. I also own TILDX.

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 0.0/5 (0 votes)

Re The Portfolio of Mr Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: mycroftpsaras (IP Logged)
Date: January 15, 2012 08:00AM

Hi Adib,

In the article I proved that Zeke is a big fan of FCF or Owner Earnings as I call it. I am sure all investors are a bit growth and value investors, But I believe a classic value investor to be a person who first looks at the the fundamental ratios of Price to Sales, Price to Book and Price to OE before they would ever think of looking at the FROIC and CapFlow ratios. I consider myself a Growth Investor and the first thing I look at is FROIC as I want to know is how much in Owner Earnings the company I am analyzing is making for every dollar of Total Capital employed. I like to own companies that have at a minimum of 15% in FROIC and then try to buy them at 15 or less their P/OE. So a classic Growth investor will shoot for FROIC first while a classic Value investor shoots for P/OE first. At least that the way I see it. A growth investor will sell at 30+ times P/OE while a value investor may sell at 20 . As you can see in both Mr. Weitz's and Zeke's portfolios, FROIC does not play a major role, while in my client portfolios it is paramount.

I do not use TTM numbers and like to go out to 2012 estimates (soon to be 2013 estimates) by Value LIne because I want to look forward at all times. Once I find a great FROIC, CapFlow, and P/OE only then do I open up my huge database and then go all the way back to 1962 and do a complete analysis of the companies quantitative history. From there I then implement Philip Fisher's 15 points analysis, check for lawsuits and then see how the company fits in my Macro-Economic Analysis. I love for example Defense stocks as their numbers are fantastic, management supreme and are all unique toll bridges. But even though their numbers are great I can't own them because Obama is shrinking the size of the Military, we just left Iraq and soon will leave Afghanistan. If Obama is anything like Jimmy Carter then he will continue to gut the military to the extreme. When that happens these stocks will fall to such a low lever that they will become extreme value plays. I know this from experience because I was buying McDonell Douglas, Lockheed and General Dynamics back in the early 80's once Reagan got elected because I knew that a 600 ship navy was coming.
If you read my article on the Homebuilder Industry that I wrote before the crash you will see the dangers of investing with current or TTM numbers as your guide :

Had you used the Homebuilder's numbers at the time I wrote the article and bought heavy you would have made the mistake that Classic Value Investors like Bill Miller made and loaded up on them. The first rule as a value investor is to never try to catch a falling knife. My job as an analyst is to figure out ahead of time before it starts it initial fall so I can get my Clients out way before such things happen. This requires a tremendous amount of research and that's where Fisher Analysis comes it.

One of the greatest investment minds in history was Arnold Bernhard and he was the founder of Value Line in 1931. He created something amazing back then and I am where I am today because I have been using his service since the early 1980's . Here is one of the only articles about him you will find anywhere. His Mutual Fund firm was managing over $7 billion back in 1987 so just imagine and he was on the Forbes 400 list back then:

My data goes back to the 1960's but I would love to get into the Value Line archives and get OE data from 1935 onwards. But unfortunately Value Line has never digitized their sheets going back that far.

Value Line is also held in high esteem by that most successful of investors, Warren Buffett. "I don't know of any other system that's as good . . ."

and Walter Schloss

I use five things in my work.

1) Value Line
2) GuruFocus
3) Morningstar
4) Wall Street Journal
5) Yahoo Finance

As for Western Digital here is my data:

With Western Digital Value Line has for 2011:

Cash Flow per share of $5.70
Capital Spending per share of $3.34
Total Capital Per share of $24.88

So we have owner earnings per share of $5.70-$3.34 = 2.36
So at a $33.35 price we have 14.13 as P/OE

CapFlow= 3.34/5.70 = 58%

FROIC = 2.36/24.88 = 9.4%

So it gets a "1" in 2011

But going forward to 2012 Value Line has;

Cash Flow per share of $2.65
Capital Spending per share of $3.25
Total Capital Per share of $24.91

So we have owner earnings per share of $2.65-$3.25 = -0.60
So at a $33.35 price we have a negative result for P/OE

CapFlow= 3.25/2.65 = 122%

FROIC = negative

Value said the reason for dropping their estimates so dramatically is because of this

"Western Digital encountered significant setbacks during the recent
September period. Specifically, flooding in Thailand devastated much of the company’s
operations in the region. It will likely be a challenge for WDC to get back
on its feet over the next several quarters.And lean inventory levels, which are
usually a positive, may amplify the problem.We think the top line fell 29% during
the December period, largely related to the capacity constraints. Top-line woes may
continue through much of the current fiscal year."

So as you can see we have great uncertainty here and I don't like uncertainty. I have a basic macro-economic rule that I follow. Where there is great uncertainty "Cash is King" and where there is little uncertainty "Cash is your Enemy" . With European downgrades all around and retail number being terrible I am 75% cash right now.

I don't compete against anyone and just operate my shop as a businessperson would. My benchmark is the NYSE Index and I have handily beat that over the years, but I am not in a race with it and only use a benchmark as people always want to know how I did performance wise. If it wasn't for that reason I would not compete against any benchmark and just buy great stock like I did with NetFlix in 2010 when it was $45 and then sold it when it hit 35 times its forward P/OE. I missed a lot of upside in selling but still sold for more than where it trades currently. So he that laughs last, laughs best!
Its all about buying low and selling at fully valued and maximizing your profits by minimizing your losses.

Warm Regards and I hope that answers your questions,

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 0.0/5 (0 votes)

Re The Portfolio of Mr Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: Adib Motiwala (IP Logged)
Date: January 15, 2012 03:37PM

Thanks for the detailed response. You answered my questions and helped me understand the difference why even the 2011 metrics for WDC are different than what I computed. For Cashflow per share, I used Cash From Operations while VL uses Net Income + Depreciation/Amortization. My number for Cashflow per share was $7.16 which would explain the difference in capflow and FROIC calculations.

Also, the uncertainty that was mentioned in the recent VL for WDC was true but it was a very fluid situation. Already the company came out with press release that production is back in its factories in Thailand and the drop in sales wont be as bad as earlier projected. In fact, VLs metrics for Cash flow per share climb from $2.65 to $9 for the 2014-2016 time frame with flat capex per share.

thanks and look forward to your analysis of other Guru investors such as Yacktman, David Einhorn, Joel G, Arnold Van Den Berg, Tweedy Browne...

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 0.0/5 (0 votes)

Re The Portfolio of Mr Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: carefull (IP Logged)
Date: January 23, 2012 06:11PM

Thanks again for the in-depth analysis, and the personal asides. I see Xerox seems to be coming back to it still a 3, or is it going the way of Kodak?

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 0.0/5 (0 votes)

Re The Portfolio of Mr Zeke Ashton Analyzed - Buffett Ratio Guru Portfolio Analysis
Posted by: mycroftpsaras (IP Logged)
Date: January 23, 2012 08:21PM

Hi Carefull,

Xerox is a great company that should break out someday, but they need to get their FROIC up inorder to do so.

Guru Discussed: Zeke Ashton: Current Portfolio, Stock Picks
Rate this post:

Rating: 0.0/5 (0 votes)

Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)


text:
1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Ravi Nagarajan
Ravi Nagarajan
Articles (5983)  | Author's Website |

Why Is Todd Combs Bullish on Western Union?

October 30, 2010 | About:

There has been much speculation this week regarding the reasons behind Warren Buffett’s decision to hire Todd Combs to manage a portion of Berkshire Hathaway’s investment portfolio. Although short term stock price movements are meaningless, some observers have attributed Berkshire Hathaway’s stock performance over the past two days to investor discomfort with the selection, although it is equally plausible that investors are simply refocusing on their discomfort with the overall succession issue.

More information regarding Mr. Combs will no doubt emerge in due course so spending time speculating on his qualifications and background is a rather pointless exercise. In the meantime, it is more productive to take a look at his highest conviction positions based on the June 30 13-F report filed with the SEC in early August. According to a recent article quoting a letter Mr. Combs sent to his investors on October 19, Western Union is one of his favorite investments:

Among Combs’s favorite stocks currently is Western Union, according to a letter Castle Point sent to investors on Oct. 19.

The company is poised to expand its share of the global remittance market, and that should support strong cash flow, Combs explained in the letter.

Western Union was an original member of the Dow Jones Transportation Average in 1884, he noted. “One of its survivors, Western Union, has shown that it can endure the toughest of operating environments and preserve capital throughout economic cycles,” Combs wrote.

Castle Point owned 1,224,000 shares of Western Union on June 30 and represented the fund’s fourth largest position. In this article, we will take a brief look at Western Union based on a quick review of the company’s latest 10-K report along with other recent filings.

Background and Overview

In the interests of brevity, we will focus on Western Union’s recent history as a company primarily occupied with money transfer and payment services. However, Western Union has a fascinating history dating back to the mid 19th century and a basic summary can be found on Wikipedia for those who are interested.

Western Union was a subsidiary of First Data until it was spun off in early 2006. The company currently operates in three segments: Consumer to Consumer, Global Business Payments, and Other. We will focus on the two most important segments: Consumer-to-Consumer and Global Business Payments. The other segment is primarily comprised of Western Union’s money order business and accounted for less than two percent of total company revenues in 2009.

Consumer-to-Consumer Segment

Money transfers between two individuals is the most important business for Western Union and accounted for 84.6 percent of revenues in 2009. The vast majority of money transfers are cross-border transactions in which a customer in one country sends remittances to a recipient in another country. The business is heavily dependent on migrants who need to send funds to family members in their country of origin. As a result, transaction volumes can be sensitive to overall economic conditions in countries that have a high level of migrant workers. In 2009, the consumer-to-consumer segment processed $71 billion in principal transfers, of which $65 billion were cross-border transfers.

The exhibit below presents some basic data for this segment based on information provided in company filings:

The business earns fees both based on explicit charges associated with the principal being transferred as well as foreign exchange income derived from a spread between the exchange rate used in the transfer and the exchange rate that Western Union pays to obtain funds. We can see that the business has attractive operating margins in the high twenty percent range. The average principal transferred per transaction is relatively modest and consistent with the small remittances that migrant workers are likely to be able to send to relatives in their home countries.

Over the past four years, we can see that total transaction fees as a percentage of total principal volume has fallen from 5.8 percent in 2006 to 4.5 percent in the first nine months of 2010. This is likely due to increased competition from other payment services. However, Western Union seems to be somewhat insulated from competition based on brand recognition and the fact that the company has a very large number of agents located in over 200 countries. While transaction fees as a percentage of total volume has fallen, the company’s various restructuring initiatives appear to have been sufficient to maintain operating margins.

Global Business Payments

The global business payments segment provides several options for consumers to make payments to businesses such as utilities, auto finance companies, mortgage servicers, and government agencies. In September 2009, Western Union acquired Custom House which facilitates cross-border cross-currency services. One interesting service provided by the segment is the “Equity Accelerator” product which charges an up-front fee to customers who wish to schedule additional recurring principal payments on their mortgages, apparently targeting customers who do not have the discipline to simply make extra payments on their own.

The following exhibit presents selected data for the global business payments segment based on recent company filings:

We can see that this segment also provides attractive operating income margins, although the acquisition of Custom House has somewhat depressed overall segment margins since the acquisition in late 2009. The increase in foreign exchange revenues is mostly accounted for by the Custom House business.

Business Risks

There are a number of potential risks that should be considered when examining Western Union. Here is a list compiled based on a brief review of the company’s recent filings and related research:

  • High Debt Levels. The company had $3.3 billion in borrowings as of September 30, 2010 which accounted for 88 percent of total capitalization. Although the current profitability of Western Union can easily service the interest on this debt and the company’s credit rating should allow debt to be rolled over upon maturity, any potential erosion in the business over time could leave the company exposed.
  • Competitive Landscape. Western Union’s consumer-to-consumer business model is built upon the ability to charge relatively high fees to consumers transferring small sums. The company’s broad distribution network and brand name provides a significant amount of protection (the “moat”) but as customers become more comfortable with electronic payment options, competition from services such as PayPal or Xoom could begin to take share.
  • Increased Technological Sophistication of Customer Base. As more customers in developing countries obtain cellular phones with increasingly sophisticated capabilities, the need for physical agency locations may somewhat diminish. Smart phones and electronic payment options could allow customers to use services such as PayPal to realize substantial cost savings. For example, typical PayPal fees for international transfers are in the 4 percent range. Western Union fees vary but can be substantial especially for very small transfers. For example, the company has run “$50 for $5″ promotions in which customers can transfer up to $50 for a flat $5 fee, and this is apparently a discounted rate compared to normal fees.
  • Dependency on Immigration. The company’s customer base is heavily dependent on immigrants who work in developed countries and send funds to family members in their home countries. There has been negative publicity surrounding some of the company’s operations and the company recently paid $71 million to the state of Arizona to settle a lawsuit related to its business practices. The political climate in the United States and in many parts of Western Europe has become increasingly critical of immigration. Major curtailment of immigration in general could adversely impact Western Union’s business.
  • Brand May Not Fully Protect Moat. Western Union’s brand name is synonymous with safety. Customers know that funds sent to their relatives will arrive safely. They are willing to pay relatively steep fees to ensure the safety of their money. However, it is unlikely that customers necessarily have the same emotional attachment to Western Union that they may have to brands such as Johnson & Johnson or Coca Cola. In other words, if services of equal perceived safety are available at a lower cost, few emotional ties are likely to keep customers loyal to Western Union.

We began the article by asking why Todd Combs is bullish on Western Union. Clearly, the business has proven that it has a significant moat based on the margins that have been achieved historically and there appears to be no reason to think that this moat will erode in the very near future. Based on company filings and conference calls, management is well aware of competitive threats and is seeking to put in place services that should compete with PayPal and other electronic payment services.

Western Union resembles a “toll bridge” and fits many of the criteria that Warren Buffett likes to see in a business. The company has strong cash flows and is easily able to operate with minimal levels of capital. At a recent stock price of around $18 per share, the valuation isn’t particularly high given projected 2010 earnings of $1.30 to $1.40 per share. However, the business is not without risk and there appears to be a reasonable possibility that the moat may be eroded to some degree in the future which could lead to margin pressure.

It is not difficult to see why a value investor following Warren Buffett’s investment approach would like Western Union shares, although one would have to be convinced that the risk factors are not severe enough to significantly pressure margins going forward. Our brief review of Western Union has not provided the level of confidence required to own shares at the current price, although further study of the severity of the risk factors and the company’s strategy could very well lead to a more favorable conclusion.

Western Union 2009 10-K

Western Union Third Quarter 2010 Earnings Press Release

Western Union Q3 2010 Conference Call Transcript

Western Union Investor Day Materials

Disclosure: The author of this article does not own shares of Western Union. The author owns shares of Berkshire Hathaway.

Ravi Nagarajan

About the author:

Ravi Nagarajan
Ravi Nagarajan is a private investor and Editor of The Rational Walk website. Ravi focuses on applying value investing techniques to find securities trading well below intrinsic business value. Ravi has over 15 years of experience in the financial markets and started investing on a full time basis in 2009. From 1996 to 2009, Ravi held a number of technical and executive level positions in the commercial software industry. Ravi graduated Summa Cum Laude from Santa Clara University with a degree in finance. Visit his website The Rational Walk

Visit Ravi Nagarajan's Website

Rating: 3.4/5 (15 votes)

Omarrf - 5 years ago    Report SPAM

Sorry, but my english isn´t good to speack about shares in this lenguage. En mi opinión, creo que es una muy buena compañía que seguirá teniendo un crecimiento constate en el futuro. Hoy creo que no es buen momento para comprarla, porque su RSI aún está alto y su SMA50 también se mantiene sobre la SMA200. Por ser una muy buena acción, yo esperaría a que baje algo mas su RSI y el valor vaya a testear la SMA200. En 16.60 la compraría.

Rnagarajan - 5 years ago    Report SPAM
Can someone translate the above? My college Spanish appears too rusty to understand fully :-) although I think I understand most of what he's saying.
Yswolinsky - 5 years ago    Report SPAM
Lol sorry took two years but do not remember a word. I am tri-lingual though which would not be impressive for a European but not bad for an America :)
Alfastur - 5 years ago    Report SPAM
I translate. Omarff said:

"Sorry, but my english isn´t good to speak about shares in this lenguage. In mi opinion, I think it is a very good firm that will continue to have constant growth. I think that today is not a good moment to buy, because its RSI is still high and its SMA50 also is above SMA200. To be a good share to buy I would wait its RSI to be lower and the price to get close to SMA200. I would buy at 16.60 dollars."

Please leave your comment:

GuruFocus Mobile App

User Generated Screeners

akcapitalS&P Dividends
dpostelPE DRIVEN
Doug Taylorgrowing high yield dividends
pbarker46O & G Canada
Thomas W. Eaton, Sr.Tom - 8-26-16
rael2222Credit Services
rael2222Insurance - Specialty
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)


text:
1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Bill Smith
Bill Smith
Articles (43)

Portfolio Concentration: Big Bets Vs. Small Bets

May 24, 2011

In my weekend reading, I came across a 2007 presentation titled, “How Concentrated Should You Be?” by Zeke Ashton of Centaur Capital Partners.

In it, he discusses the concept of portfolio concentration, but with a twist. He believes super-concentrated portfolios require a blend of manager and capital attributes that only a few investors have. Therefore, some small positions are worth having as long as they add a unique element that contributes something to the payoff profile of the portfolio as a whole. He discusses how combining large concentrations of his best ideas with a number of smaller positions improves both returns and reliability of returns.

In this presentation he:

  • Lists the various methods of value investing
  • Discusses four investment ideas and reasons for their smaller position size in his portfolio
  • Reviews the portfolio concentration of noted value investors
  • Outlines the Centaur Portfolio Model for position sizing, long and short
  • Points out various truisms and food for thought to assist an investor in judging how concentrated to be

I found it to be illuminating since there’s not much literature with respect to portfolio management. I hope you’ll find it interesting as well. You can read the full presentation here.

How concentrated are you? What are your portfolio management guidelines? I look forward to your responses.

About the author:

Bill Smith
I'm an IT professional and a private individual value investor with degrees in electronic engineering and business economics. My major investment influence is Warren Buffett--finding "wonderful companies trading at wonderful prices".

Rating: 3.3/5 (8 votes)

Adib Motiwala
Adib Motiwala - 5 years ago    Report SPAM
He is one of the Gurus on GuruFocus....He has a lot of great stuff. I have a few more articles/presentations on my blog.
Batbeer2 premium member - 5 years ago
How concentrated are you? What are your portfolio management guidelines?

You can only deal rationally with mr. Market by sticking to what you are personally comfortable with. It's as simple as it is difficult. It's also personal.

1) There are four companies in my portfolio, down from about six last year.

2) I try not to think of these companies as a group. Having said that, I buy only what I think is the best in the business..... Effectively, I won't own two stocks in the same industry.

Before I buy or sell I force myself to imagine what I would do if I were (or were looking to be) the outright owner of that particular business. More often than not, the effect is that I do exactly nothing.

Last year, I put 20% of my money to work in one stock.... no that's not unusual for me. At the time I thought it was cheap. Now, I still think it's a cheap stock but alas, it's 50% of my portfolio.

There are many reasons to scale back that position. All that's kept me from doing anything is the fact that I believe the outright owner of that business would not dream of selling. Thinking like an owner leads to some unusual behavior.

Curious ? You can find my US stocks (and turnover) in my public portfolio: http://www.gurufocus.com/ic/space.php?do=portfolio_view&id=6790&uid=35024&tab=overview

Just sharing some thoughts.
Bill Smith
Bill Smith premium member - 5 years ago
Adib: thanks much, good stuff. I wasn't able to leave a comment on your GME post, but congratulations! It's always nice to hear a good news story. I wish you much success. Were you able to take the 65 w/o being sponsored? Were there any other testing/legal startup requirements you had to meet?

Batbeer: I agree with you, I try to think like an owner as if I were buying the whole thing. My Roth only has 2 companies at the moment: SAM (80%), DLB (20%). I would have more ideas in there, but that's a function of not having contributed new capital to the account yet, the 401K's getting that :-)

Adib Motiwala
Adib Motiwala - 5 years ago    Report SPAM

Just saw this post. thanks!!. I was able to take the Series 65 without sponsorship. Series 7 needs it.

No other tests. I formed a LLC and then filed for RIA in the state of Texas.

Please leave your comment:

GuruFocus Mobile App

User Generated Screeners

akcapitalS&P Dividends
dpostelPE DRIVEN
Doug Taylorgrowing high yield dividends
pbarker46O & G Canada
Thomas W. Eaton, Sr.Tom - 8-26-16
rael2222Credit Services
rael2222Insurance - Specialty
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)


text:
Skip to main content

Events Calendar

Pew Campus Study Abroad Advising Day

Date and Time

Tuesday, January 21, 2014
11:00 AM - 3:00 PM

  • Seidman College of Business Building, 2nd floor lobby

Students interested in studying abroad should attend the Pew Campus Study Abroad Advising Day!

Representatives from the Padnos International Center will be available to answer questions and offer guidance on your study abroad plans! Everyone is welcome, but we especially encourage students in the Seidman College of Business to attend.

Students intested in Studying Abroad should stop by for information on program options that fit your academic goals; whether your looking to taking general education, major, or minor classes abroad.  There are options available for any student.

Snacks will be provided!

Padnos International Center

January 2014

Su Mo Tu We Th Fr Sa
29 30 31 1 2 3 4
5 6 7 8 9 10 11


text:
In association with heise online

23 March 2009, 17:42

The Red Hat Patent Problem and AMQP

How a Red Hat 'stealth' patent impinges on a crucial open standard

by Dj Walker-Morgan

The disclosure that Red Hat have applied for a patent on what might strike some as an obscure corner of the software ecosystem has caused others to re-evaluate how open and collaborative Red Hat actually are. As the AMQP 1.0 standard entered into its final phase, a 2007 Red Hat patent application, the company now refers to as a "defensive" patent, on an obvious extension of AMQP, was automatically disclosed and caused quite stir. What is AMQP, why is it important, what has Red Hat done to cause a ruckus within the AMQP community, and what does it mean to open source in general.

Advanced Message Queuing Protocol (AMQP)

AMQP messaging
Zoom AMQP messaging model
Advanced Message Queuing Protocol (AMQP) is an open standard which has been developing for some years now and represents an attempt to unify a large set of proprietary vendors on a single interoperable protocol for passing reliable, queue-able messages around a large network. The proprietary vendors have been in this space, known as MOM, Message Oriented Middleware, for many years. Its use has, for reasons of complexity and cost, been restricted mostly to the financial services business, but, with the ascent of cloud computing, MOM could provide the backbone for many cloud applications to control application servers, provide intelligent load balancing and open the way to massive scaling.

Message-Oriented Middleware (MOM)

Message-Oriented Middleware (MOM), in essence, allows developers to write applications that just send out messages into the messaging backbone. The backbone will ensure the message gets to the right applications by passing the messages to exchanges that use rules to determine the destination of the message and make sure it gets delivered. If it can't be delivered, the exchange will go back to the rules and either queue the message for later delivery or pass it on to another system. A single message can also be delivered to multiple destinations. For example, within a companies ordering system a message that an order has been placed could be sent to the payment processing system, the stock control system and the despatch system. If the company needed to audit all the orders, rather than rewrite the various systems, the administrators would just add a rule to the exchange to say "and the audit database". MOM based systems can also scale in size, with messages which can be many hundreds of megabytes, and scale over time, storing and forwarding messages when the destination systems are available.

The various proprietary MOM systems available used different techniques to layer this flexible and reliable backbone on top of potentially unreliable network protocols, such as TCP/IP, and create bridges between the backbone and mainframe systems. In some cases, MOM messaging is the only supported way to interoperate with mainframes.

Next: Kirk Wylie and open standard MOM

Print Version | Permalink:
  • Twitter
  • Facebook
  • submit to slashdot
  • StumbleUpon
  • submit to reddit

  • July's Community Calendar

The H Open

The H Security

The H Developer

The H Internet Toolkit


text:
A Sign

This week I received a sign I’d been waiting for.

I wrote here and here about the McCarney family that owned my house between 1918 or so and 1976.  Patricia McCarney, one of four siblings, lived in the house – nicknamed Rustic Manor –  until she entered the convent.  John, her nephew, spent summers at the house with the extended family.

Patricia and John have been in touch the past few years, stopping by for occasional visits.  John recently wrote that he was making me a reproduction of the original Rustic Manor sign.  On Monday, he and his brother Pat stopped by to deliver my gift.

It’s brilliant.  I’m happy to have another piece of the history of the place and so appreciative of John’s thoughtfulness.

a sign

Like & Share

Leave a Reply


text:
Hairstyles, Hair Care & Fashion

Undercut Bob

Looking every bit like a college queen, Jamie Pressly is wearing her hair in a trendy undercut bob, sitting about halfway down her neckline (March 8th, 2008). The undercut can be a champion cut because it falls naturally under when you comb it and you will always look neat, sweet and sexy.
Long bangs still grace below her brows. A large round brush will bring this fashion while you blow dry your hair up and under. Spritz a little bit of gloss for sheen.
Jaime Pressly's bob with her hair halfway the neckline Jaime Pressly wearing her hair in a trendy medium length bob Jaime Pressly's hair that falls under naturally Jaime Pressly's bob with bangs
More Jaime Pressly Hairstyles


text:
Recently I was working behinds the scenes with Jill from Lake Erie Shores and Islands tourist bureau and Katrina from Miller’s Ferry on planning for a busy, busy review trip in the Sandusky, Ohio area.  Disclosure:  Our room and all necessary admission tickets, ferry and golf cart transportation were provided free of charge in exchange for my honest reviews.

It all started when Miller’s Ferry invited us out to ride the ferry to experience a day on Put ‘n Bay (South Bass Island on Lake Erie). Jill was able to make our drive more worth our while by organizing a series of other review opportunities for us as well.  And the result is?…

The result is a FIVE part series on Sandusky family-fun beginning today on Hall of Fame Moms 🙂 .

It was just last weekend we did all of this.

We spent two nights at the new Maui Sands Resort (indoor waterpark), took Miller’s Ferry over to Put ‘n Bay on Saturday, rented a golf cart and did some fun things at Perry’s Cave Family-fun Center while driving around South Bass Island visiting some yard sales. On Sunday we visited the African Safari Wildlife Park, The Edison Birthplace, and Milan Historical Museum. Whew!

To begin with, I wanted to open up this series with some helpful information for anyone wanting to visit the Sandusky area. My first tip is to visit the Lake Erie Shores and Islands either online or in person. You can follow them on Facebook and Twitter too.

[That’s Jill in the picture above.]  They have staff to help at their physical location, some fun stuff to check out (like the canoe and a little roller coaster car), lots of brochures and information and just maybe some trinkets and gifts for the kids from local establishments.

The day we stopped by to pick up some info for our trip LESI had a bottle of grape juice for sampling (can’t remember the place it was from) and the boys got some head gear.

Be sure to pick up one of these…

Be sure to pick up their latest  Travel Planner either in person, request it by mail or download it online here. Inside the Travel Planner look for the Shores Savings card and punch it out or download it from here . Ask for the list of of money saving discounts that apply to the Shores Savings card or look for the list online.

Follow along for my 2013 Sandusky, Ohio Review Series. You can subscribe here to receive the updates by  email.

Part 1:   Planning your trip with Lake Erie Shores &  Islands
Part 2:  Maui Sands Resort &  How we saved money on meals.
Part 3:  Miller’s Ferry to Put ‘n Bay
Part 4:  African Safari Wildlife Park
Part 5:  Edison’s Birthplace and the Milan Historical Museums

I also have a 2012 Put’n Bay and Kelleys Island Review Series here.

*Again, our room and all necessary admission tickets and transportation were provided free of charge in exchange for my honest reviews. Opinions are my own.
The following two tabs change content below.

Tracy Zdelar

Owner/Editor at Hall of Fame Moms
I like what Annie Oakley said, " For me, sitting still is harder than any kind of work." My days are filled with blogging, homeschooling, Jesus and coffee. (PR friendly)


text:
The biggest selection of costumes
in the world!
 (507) 386-8388

Child Hercules Costume

Child Hercules Costume
Child Hercules Costume
Buy New$24.99
Select a Size
Also available in Adult Plus and Adult Standard.
Product Description
Get the strength of the gods in this Child Hercules Costume. Add Roman-style sandals, a sword and shield, and perhaps a helmet, and you'll be ready to perform great feats of strength and daring!
  • 100% polyester
  • Pullover white tunic; studded headband w/ gold tie
  • Foam body armor front w/ fabric tie in back; attached cape
  • Arm bands & leg guards w/ Velcro closure; arm cuffs w/ spandex
Items Included
  • Tunic
  • Body Armor w/ Attached Cape
  • Arm Bands
  • Cuffs
  • Leg Guards
  • Headband
Size Chart
Size Measurement Standard Metric
Small (6-8) Cape Length 30" 76cm
Small (6-8) Tunic Length 28" 71cm
Small (6-8) Chest 34" 86cm
Small (6-8) Child Size 6-8 6-8
Medium (8-10) Cape Length 30" 76cm
Medium (8-10) Tunic Length 28" 71cm
Medium (8-10) Chest 36" 91cm
Medium (8-10) Child Size 8-10 8-10
Large (10-12) Cape Length 30" 76cm
Large (10-12) Tunic Length 30" 76cm
Large (10-12) Chest 38" 97cm
Large (10-12) Child Size 10-12 10-12
X-Large (12-14) Cape Length 30" 76cm
X-Large (12-14) Tunic Length 31" 79cm
X-Large (12-14) Chest 40" 102cm
X-Large (12-14) Child Size 12-14 12-14
Recommended Accessories
Product Reviews       Write A Review
Whit with my centurion!
     By  / November 12, 2013
My son wanted a Roman costume like Rory on Dr Who. This costume was great! However, he didn't like the shin straps - he said they were too floppy and he wouldn't wear them. Also, we bought a helmet separately instead of the included headband.
Was this review helpful to you?YesNo
 Write Review
Select Mask to Review:


text:
New Packages

New Bi-Colored Bottles from Silgan

January 4, 2008

Silgan Plastics has introduced a line of co-extruded bi-colored high-density polyethylene (HDPE) bottles. Formed on Silgan’s proprietary wheel equipment, these bottles can be produced in a wide variety of sizes, finishes and shapes, including rounds, ovals and flat-sided shapes. Silgan offers a full range of color choices, and the two colors can be introduced as stripes of equal or varying width. In an oval bottle, for example, the stripes can be limited only to the broader sides, while in a round bottle two stripes can create a half-and-half configuration. These eye-catching bottles are said to be ideal for cosmetic and personal care products.
More info:
blog comments powered by Disqus


text:
View Single Post
  #380 (permalink)
Old March 29, 2010, 08:12 AM
SKYMTL's Avatar
SKYMTL SKYMTL is offline
HardwareCanuck Review Editor
Join Date: Feb 2007
Location: Montreal
Posts: 13,284

Originally Posted by sideeffect View Post
Guru3D used the full game to test and had results very different from this site
No, they aren't. Where we used the same settings, their results line up nearly perfectly with ours.
Reply With Quote


text:
View Single Post
  #1 (permalink)
Old April 30, 2012, 11:17 AM
Sam_Reynolds Sam_Reynolds is offline
News Editor
Join Date: May 2011
Location: Cylon Occupied Caprica
Posts: 713

My System Specs

Default ASUS Introduces the Xtion Motion Sensor for PCs

The ASUS Xtion motion sensor brings consumers the first ever whole-body gesture input developed exclusively for PC. It employs sophisticated sensors for precise yet intuitive motion controls, with a user-friendly interface that enables fun and truly interactive gaming, multimedia, and online experiences. Several high profile games offer full Xtion support, with more being added. The dedicated Xtion Store further contains a variety of exclusive games and applications, plus consumers receive a free three-game bundle with their purchase.

Read more here: ASUS Introduces the Xtion Motion Sensor for PCs | Hardware Canucks
Follow me on Twitter: @thesamreynolds

Follow Hardware Canucks on Twitter:
Reply With Quote


text:
Thread: BST feedbacks?
View Single Post
  #15 (permalink)
Old October 23, 2012, 01:31 PM
blaze_125 blaze_125 is offline
Join Date: Nov 2008
Location: Ottawa
Posts: 344

My System Specs

Originally Posted by Soultribunal View Post
Nothing is ever certain, but I can assure you that it is something of priority.

It can't be that much of a priority if such an important board feature has not been re-implemented after so long.
Reply With Quote


text:
While You Were Sleeping: The Best of Fall 2012 So Far, Celebs Front Row, Plus More!

Advertisement - Continue Reading Below

- See all of the best of the Fall 2012 runways so far.

- Matt Damon sat front row at Naeem Khan yesterday — his wife was there too. [WWD]

- We also love the line A.L.C. [Who What Wear]

- When Prabal Gurung wants to treat himself with a high fashion piece he goes to Commes de Garcon. [The Cut]

- Marc Jacobs wore those flashy pilgrim shoes from his main line runway for his bow at Marc by Marc. [The Cut]

- Check out the emerging runway trends from this season. As they say, three is a trend!

- See all of the street style so far, there's a lot of good coats in there, shot by Mr. Newton.

Read Next:


text:
Report a Review

This service is designed to allow HPFF users to alert the staff about inappropriate reviews.

Review:ForeverCharmed says:
Oh My God. This was excellent I loved it. Draco and Hermione finally coming together.

Author's Response: Thank you so much ! Yeah I'm glad they are finally getting on :) thank you for reading :D

Your Name:
Reason for this Report:

  • The review is offensive.
  • The review is spam or chit-chat (not actually a review).
  • The review was double posted.
  • The review has formatting problems.
Repeat the number: 645
Submit Report:


text:
Report a Review

This service is designed to allow HPFF users to alert the staff about inappropriate reviews.

Review:queenwombat says:
awesome story and great chapter i really want to see how everything plays out! keep updating!

Author's Response: I'm working on the next chapter - it should be up soon!

Thank you for the awesome review and for reading!!!

Your Name:
Reason for this Report:

  • The review is offensive.
  • The review is spam or chit-chat (not actually a review).
  • The review was double posted.
  • The review has formatting problems.
Repeat the number: 694
Submit Report:


text:
Report a Review

This service is designed to allow HPFF users to alert the staff about inappropriate reviews.

Review:ScarletEye158 says:
Hey there, fellow team mate! I'm here for the Blackout Battle :)

This was honestly probably one of the best one-shots that I've ever read. I can't believe how fast you wrote this and still were able to make it so amazing! And the fact that I found nothing nothing grammatically wrong or spelled wrong is awesome too! I would've been scrambling to write this and would've had so many typos! :P

I really liked how you didn't give a name to this character or her mother and left them as an unknown characters. It left the reader with some imagination and kept us wondering more about them both.

I also really liked just the whole way this story flowed. Getting to see her at different ages and grow so much in one short chapter was pretty awesome! Even though we really didn't know who she was, you got to connect with her and feel sympathy towards her.

I also really liked how you showed that she was a loyal member to Hogwarts and not just Slytherin. Not all of the Slytherins were bad people, and it was nice reading a story where she got to break away from the stereotype. You can be a loyal member of Slytherin and not be bad, and I don't think a lot of people realized it, especially during Harry's Era!

My heart broke when I realized it was her mother who had turned against her. I can't even imagine the betrayal she must have felt. I really loved the relationship that they had at the beginning and throughout the story and it just makes me so sad to see that her mother changed for the worst and did the unthinkable to her daughter :(

Anyways, I really really loved this story! I'm so glad you were able to write it for Gryffindor's Blackout Battle and that I was able to read and review it!

Author's Response: Hi Amanda!

Thanks for this amazing review!

Lo :)

Your Name:
Reason for this Report:

  • The review is offensive.
  • The review is spam or chit-chat (not actually a review).
  • The review was double posted.
  • The review has formatting problems.
Repeat the number: 870
Submit Report:


text:
Report a Review

This service is designed to allow HPFF users to alert the staff about inappropriate reviews.

Review:Liana says:
I'm horrible with riddles so I respect someone who can come up with one. I'd like to see if James really does know as much as he thinks he does. Why doesn't he just test out of his courses.

Your Name:
Reason for this Report:

  • The review is offensive.
  • The review is spam or chit-chat (not actually a review).
  • The review was double posted.
  • The review has formatting problems.
Repeat the number: 982
Submit Report:


text:
Penname: theJeaLousOne
Member Since: 2007.08.03

Track This Author: RSS Feeds

Stories Posted: 3
Reviews Posted: 58
Favorite Author of: 60

The name's is Justin. I never intended to write a Fan Fiction. I feel it a great disservice to borrow JK Rowling’s characters and change them. Ask me more if you dare.

Author's Favorite Stories | Author's Stories | Author's Favorite Authors (7 found— page 1 of 1)

|< 1>|

1 : When No One Else Was Looking by Gred and Forge forever     Novel
Rating: 15+   Chapters: 37   Reviews: 313

Draco Malfoy is tired.  Tired of having his life dictated for him.  Tired of the pressure he feels to take on the Death Eater lifestyle his father wants for him.  No one notices that Draco is unhappy, though.  No one, that is, except for the one person he doesn't want around.

Genres: Drama, Romance, Angst   Era: Hogwarts   Characters: Blaise (M), Crabbe Jr., Draco, Ginny, Goyle Jr., Lucius, Luna, Neville, OC , Pansy  Pairings: Draco/Ginny
Advisory: Mild Language, Mild Violence, Scenes of a Mild Sexual Nature, Substance Use or Abuse, Sensitive Topic/Issue/Theme, Contains Spoilers
Published: 2008.12.11   Latest Chapter: 2009.10.20 Updated: 2009.10.20 Status: COMPLETED (66799 words)

2 : Hermione Unwritten by owl1989     Novella
Rating: 15+   Chapters: 1   Reviews: 12

We all know Hermione: perfect student, best friend of the Boy-Who-Lived, smartest witch of her age, major player in the Second War. But, who is she? What are her parents like? Why is she an only child? What does she do during the summer? We only see her through Harry's eyes.

Now, she has a voice of her own...

Genres: General, Action/Adventure, Young Adult   Era: Hogwarts   Characters: Draco, Fred, George, Ginny , Harry, Hermione, Neville, Ron
Advisory: Mild Language, Mild Violence, Contains Spoilers
Published: 2007.12.11   Latest Chapter: 2009.07.07 Updated: 2009.07.07 Status: WIP (916 words)

3 : Time Heals All Wounds by ginwannabe     Short story
Rating: 12+   Chapters: 5   Reviews: 133

Fantastically awesome banner by the amazing NevillesSoulmate!  Thanks so much, love!

While shopping with her children Ginny runs into a very unlikely person.  Where will this chance encounter take them, and how will it change the future of relationships she thought were in the past?

Genres: Fluff, General  Era: Post-Hogwarts   Characters: Albus, Ginny, Harry, Hermione, Hugo, James (II), Lily (II), OtherCanon, Ron, Rose  Pairings: Harry/Ginny, Ron/Hermione
Advisory: Contains Spoilers
Published: 2007.08.11   Latest Chapter: 2007.12.05 Updated: 2007.12.05 Status: COMPLETED (10184 words)

4 : Remembering Sirius by A Diffrent type of Flower     One-shot
Rating: 12+   Chapters: 1   Reviews: 30

             Harry is in the common room late one night reflects about Sirius and the up coming anniversary of his godfather’s death. He wishes Sirius was still around to talk to, especially about a specific red headed witch. But when Harry has an unexpected conversation of the girl of his dreams, He feels slightly better about the situation.

         *HBP Missing moment*
A/N: This was written by a Sirius fan that ships Harry Ginny for Sirius fans that ships Harry/Ginny.

Genres: General, Humor, Young Adult  Era: Hogwarts   Characters: Ginny, Harry  Pairings: Harry/Ginny
Advisory: Contains Spoilers
Published: 2007.10.20   Latest Chapter: 2007.11.19 Updated: 2007.11.19 Status: COMPLETED (1208 words)

5 : I Wear Black by princessenr1     One-shot
Rating: 12+   Chapters: 1   Reviews: 6

Severus Snape...the flawed hero.  What was he thinking when Harry first entered Hogwarts?  I attempt to answer.  DH Spoilers!

Genres: Drama, General  Era: Hogwarts   Characters: Harry, Snape  Pairings: Snape/Lily
Advisory: Contains Spoilers
Published: 2007.09.21   Latest Chapter: 2007.10.04 Updated: 2007.10.04 Status: COMPLETED (1623 words)

6 : Greatest Desire by Kagumi     One-shot
Rating: 15+   Chapters: 1   Reviews: 5

Hey guys…This is just a little one-shot to let you know I’m NOT dead. So, to explain. A missing moment from Philosopher’s Stone, right before Harry discovers the Mirror of Erised. Looks like a certain grumpy professor has his own dark little secrets.

Genres: Drama, Romance, Angst  Era: Hogwarts   Characters: Lily, Snape  Pairings: Snape/Lily
Published: 2007.04.17   Latest Chapter: 2007.04.18 Updated: 2007.04.18 Status: COMPLETED (612 words)

7 : Snitch by Hettie Hoffleboffer     Novella
Rating: 15+   Chapters: 12   Reviews: 133

Image hosted by Photobucket.com
Ginny has a new life at Hogwarts--without Harry Potter. But has her new life really allowed her to be over Harry? Set during the last half of OOTP, this story explores Ginny's relationship with Michael Corner as well as how she really feels about Harry's relationship with Cho. Banner by LogicalRaven.

Genres: Angst, Drama   Characters: Ginny, Harry, Hermione
Advisory: Mild Violence
Published: 2004.07.24   Latest Chapter: 2005.05.21 Updated: 2005.05.21 Status: COMPLETED (32965 words)
|< 1>|


text:
"Setting the PACE... Own Your Fitness"PE TEACHERS

Is your child getting enough exercise and making wise food choices?

We are one area at K.V. that concentrates on the physical health of your child. We live in an environment that makes it easy to over-eat and be sedentary.  Poor diet and physical inactivity may soon overtake tobacco as the leading preventable cause of death in the U.S.   Health professionals are concerned about the rapidly rising number of children who are overweight or obese.

We are here to help!!!   Our students have a 90 minute physical education class every other day during the 1st and 4th marking periods.  In the 2 middle marking periods we split the block to include a health class while maintaining a P.E. class every other day.

We offer many activities throughout the year to enable students to be physically active on a regular basis.  We offer team sports, lifetime sports, cooperative games, a climbing wall, spinning bikes, and a weight and fitness room to accomplish this goal.  It is our hope that every student will find some form of activity that s/he can enjoy doing into adulthood.  View the links to the left to find an overview the activities and health programs offered,

In order to assess your student's fitness level, we administer four fitness assessments to all students at KV twice a year (fall and the spring).  These include: push-ups, sit-ups, sit-and-reach, and the mile run.  These measure the four important components of fitness that we work on during every PE class in addition to their regular activity.  These health components include cardiovascular fitness, muscular strength , muscular endurance, and flexibility.
We use an Excel program we have created based on the FITNESSGRAM information to evaluate and educate the students about their personal fitness level.. We have been using this Excel program to compare results to national norms and to provide feedback to the students on their individual strengths and weaknesses.  The program also allows us to track students fitness assessment scores from 6th through 8th grade.

As a department, we feel it is important to demonstrate to students that being physically active can be fun!  We stress preparation, active participation, cooperation, and effort enabling each student to meet success, regardless of their individual skill level.  Our mission as physical educators is to:

1.    Stress the importance of physical fitness to maintain a healthy lifestyle.

2.    Expose the students to a wide range of activities so they can find something that they enjoy.

3.    Give students confidence in certain activities enabling them to further their participation in/out of school.

4.    Emphasize manners, kindness, and respect for individual differences when working in a group or on a team.

   Health is taught in every grade at Keith Valley, with the content emphasis shifting in each grade level.  In addition to core content, health skills including self-management, goal setting, decision making, accessing reliable information, analyzing internal and external influences, interpersonal communication, and advocacy are discussed and practiced throughout your student's three-year health curriculum.

   In sixth grade your child will learn information that will guide him/her in formulating a personal wellness plan.  Topics include: growth and development, physical fitness, personal hygiene, nutrition, and interpersonal skills needed to build healthy relationships.   Communication, making decisions, managing stress, dealing with conflicts, and respecting differences are all important skills to have when dealing with friends and family.

            In seventh grade your child will focus on substance abuse and the physical, emotional, and social problems associated with using drugs.  Tobacco, alcohol, and other drugs are examined and discussed.  Refusal skills and making wise decisions will be emphasized throughout the units.

            In eighth grade your child will focus on disease prevention.  You student will learn about communicable and non-communicable diseases in terms of causes, symptoms, treatment, and means of prevention. The structure and function of the male and female reproductive systems and the discussion of AIDS and other sexually transmitted diseases are presented in same-sex classes to promote good discussion in a more relaxed environment.

We require the students to change their clothes for phys. ed. class.  Being prepared involves being in the proper uniform.  Students may purchase a Keith Valley Physical Education uniform ($20.00 for shirt and shorts or $10.00 each) or use clothes that your child might already have, which include:

  • A light colored T-shirt with student's last name boldly printed on the back
  • Plain shorts with the last name boldly printed on the leg
  • Sneakers that tie and can be secured to fit so they remain on the feet.
  • Sweat pants and sweat shirts are optional no name required on these

Last Modified on December 11, 2015


text:
Puna man arrested after indictment for attempted murder 07-22-14

Hawaiʻi Police Department
Area I Operations
Assistant Chief Henry Tavares
Phone: 961-2342
Report No. C14019005

Media Release

A 32-year-old Puna man has been arrested on a Grand Jury indictment for attempted murder and other offenses.

Gilbert H. Waiau of Pāhoa was arrested Monday morning (July 21)  on the strength of a bench warrant following a Grand Jury indictment charging him with attempted second-degree murder, attempted first-degree assault, attempted second-degree assault, first-degree terroristic threatening and second-degree criminal property damage. His bail was set at $85,000. He was held at the Hilo police cellblock pending a court appearance Tuesday.

The charges stem from an incident on April 30, 2013. Puna Patrol officers responded to a report of a possible domestic dispute on the roadway. Officers responded to Kahakai Boulevard at Puni Mauka Loop, where a 23-year-old woman reported that Waiau had followed her in his car and tried to run her off the road, then intentionally hit her car with his. When she got out of her car, he reportedly attempted to ram her with his car.

The case was routed to the Office of the Prosecuting Attorney and then presented to a Grand Jury.

This entry was posted in Uncategorized. Bookmark the permalink. Both comments and trackbacks are currently closed.


text:
Review Reservation

Review, change, or cancel reservations made on If you need additional assistance, please call 1-800-337-0202.

Refine Your Search

Clear All

View more

Wyndham Hotel Group Brands

1 hotel found near Hardin, Montana, United States

1 – 1 of 1 Hotels shown
Prev 1 Next

Please note the 'nearby' content offerings are provided by a third party website and does not necessarily reflect the view of Wyndham Hotel Group

    No Hawthorn Suites was found.

    Hawthorn is part of Wyndham Hotel Group, the global leader in hospitality with over 7,500 hotels. Here are some additional Wyndham Hotel Group brands that are available near your destination.

  1. Super 8 Hardin in  Hardin,  MontanaSuper 8 Hardin in Hardin, Montana
    Super 8
    • Free SuperStart® continental breakfast
    • Free high-speed internet access
    • Kids 17 and under stay free
    • Free in-room high-speed Internet access

    0.9 miles from destination

    201 West 14th StreetHardinMTUS59034

    Show on Map

    Get the value of a convenient location at Super 8 Hardin hotel on Interstate 90. Quickly access the best historic and scenic attractions in the ...More

    TripAdvisor Rating
    4.05Average TripAdvisor Overall Rating of 4.0 of 5 for Super 8 Hardin
    Super 8 Hardin
    Show Prices

    To see prices, enter your dates in the search box to the left.

1 – 1 of 1 Hotels shown
Prev 1 Next