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Oregon Racist Prison Gang Member Guilty of Murder

A member of an Oregon racist prison gang has pleaded guilty to a 2007 murder in Wasco County.

The Wasco County District Attorney's office announced that in late September 2009, James Paulk Jr., 31, pleaded guilty to murder.  A Wasco County Grand Jury indicted Paulk for the murder in October 2008.

In accordance with the plea, Paulk will receive a sentence of life in prison with the possibility of parole in 25 years.  Because Paulk is already serving a sentence from Washington State, the parole eligibility will be delayed until he serves 31 years.

Paulk and his victim, Christopher Bailey, were both members of the violent racist prison gang European Kindred (EK) .

On June 28, 2007, Paulk, Bailey, and Bailey's girlfriend (who testified against Paulk at his bail hearing) went out drinking at a bar.  During the drive home Paulk pulled out a handgun and shot Bailey numerous times. According to the victim's girlfriend, she and Paulk then did methamphetamine and drove to Paulk's father's home and asked for a shovel.  When his father refused, Paulk continued to drive around with Bailey's dead body in his car for the next week.

About a week later, according to the testimony of Christie Borton, Borton drove with Paulk into Washington State, where they dropped the body off a cliff and into a ravine.

After leaving the body, Paulk carjacked a vehicle, robbing, shooting and wounding the owner, and stealing the car.

Paulk has since pleaded guilty in Washington to robbery in the first degree, assault in the second degree with a deadly weapon, unlawful possession of a firearm by a felon and malicious mischief in the first degree for the carjacking incident, and is currently incarcerated for these charges.

The European Kindred is a large, violent white supremacist gang based primarily in Oregon that has been active in the prison system since 1998 and increasingly on the streets as well, especially in the Portland area.  As much an organized crime group as a hate group, European Kindred members have engaged in illegal activities ranging from drug trafficking to home invasions.

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Finland to step up air surveillance after Russia violates airspace for third time in a week

YLE NewsEye on the Arctic

Yle, Finland’s public broadcaster, has learned that yet another Russian aircraft has strayed into Finnish airspace.

In the latest incident, a Russian transport plane is suspected of flying over Finland around mid-day Thursday. Defense Minister Carl Haglund said Thursday Finland will heighten its air surveillance activities as a result of the incursions.

According to information obtained by Yle, a Russian airplane ventured into Finnish territory near Porvoo on Thursday, according to information obtained by Yle. This time around, the suspected offender was a Russian An-72 transport aircraft believed to have crossed into Finnish airspace over the Gulf of Finland around mid-day.

Defense Ministry spokesperson Max Arhippainen said that the incursion lasted just a few minutes and did not penetrate deep into Finnish territory.

The precise direction of the aircraft will emerge once the Border Guards complete a report on the matter.

Yle sources indicate that Finnish Foreign Ministry officials have discussed the first incident with the Russian Embassy in Helsinki.

This would be the third such incursion within a week, and at least the fifth incident in recent months.

Last Monday a Russian state-owned plane crossed into Finnish airspace near Hanko, followed by another incident on Saturday near Porvoo. Both towns are on the south coast.

Defense Minister taking cases 'very seriously'

Defense Minister Haglund said he is taking the third suspected airspace violation very seriously. He said that the case was regrettable, precisely because it was the third such report within one week.

“Because of this we will have to increase surveillance activities and monitor the situation. And of course it would be hoped that the Russians would significantly improve their operations as well, because this can’t continue,” Haglund said.

The minister said that the Air Force scrambled a Hornet jet to the scene of the suspected violation. He added that it now seems that the repeated airspace violations are deliberate.

“It’s very difficult to see how this could be a question of coincidence,” he concluded.

This story is posted on Alaska Dispatch News as part of Eye on the Arctic, a collaborative partnership between public and private circumpolar media organizations.

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text:
Search & Adopt Connemara Ponies

  • Find photos of Connemara Ponies for adoption near you. Read profiles of Connemara Pony personalities.
  • Help stop overbreeding, give a healthy Connemara Pony a home. Why buy a Connemara Pony for sale when you can adopt!
  • Use Search Saver. We will e-mail you when we find a Connemara Pony in your area for adoption.
This pet-saving service is funded by the passionate pet lovers at Purina & Bayer.

What You Need to Know About Connemara Pony Adoption

Where Do Adoptable Connemara Ponies Come From?
Connemara Ponies for adoption are usually surrendered by their previous owners because of change in lifestyle, a lack of financial ability to maintain a pony, or the owner needs to find the Connemara pony a companion. Pony rescues work very hard to make sure ponies are healthy and polite with people before being made available for adoption. Rescues usually categorize ponies by; “unstarted” which means they to be need trained in order to be ridden, and typically these ponies are under 5 years. “Rideable,” and “Companion” ponies are the two categories for adult ponies. Connemara ponies are social creatures just like humans and must have social interactions with their own kind in order to be happy and healthy.

How Should I Prepare to Adopt a Pony?
Mostly you must be aware that every rescue’s goal is to find forever homes for all their ponies. This means that they will anticipate you are providing a home and safe atmosphere for the Connemara pony its entire life. Connemara ponies will need the right size stable and a big enough corral, paddock or pasture are key for your ponies to remain happy and healthy. What kind of housing is right for your pony depends on your climate, but all ponies have the same basic requirements - enough room to move around and lie down inside, enough space to graze & run outside, all areas kept clean & safe, and sufficient protection from sun, rain, and cold. You may be have barn and fenced pasture on your own land, or be boarding at a pony facility nearby. Connemara ponies are herd animals and take comfort in having at least one other pony friend, so keep that in mind if you are thinking of housing your newly adopted Connemara pony on your own property. Ponies are also grazing animals that naturally will walk on average 20 miles a day. Confining a Connemara pony to a small area where he can't move around can lead to many behavior and health problems. So where ever you keep your pony, make sure that both the barn, pastures and especially the fencing are safe, well-maintained, with plenty of room to move around - and that they have a pony friend or two! Above all you need to make the decision to adopt a Connemara Pony with confidence, and consider how your lifestyle may change when owning a Connemara pony. Remember that ponies live long lives, an average of 30 years or more.

What Costs & Supplies Do Ponies Need?
The average cost of maintaining a pony is usually about $2,500 and up per year. Be prepared to provide; stall/corral rental, shoeing, veterinarian care including worming, vaccinations and any other needed medicines, salt/supplements, feed, hay, grooming supplies, blankets for different temperatures, and tack. Owning your own pony requires a serious investment in your time as well as money. Older Connemara ponies may need less exercise than younger ones, but they still require daily cleaning, feeding, and love! If you are boarding a Connemara pony, make sure to ask if the fee includes a daily mucking and turnout, or be prepared to spend at least an hour cleaning both your pony and their stall, in addition to the time needed to give them their daily exercise. Finally, ask the broader what supplies are included, such as buckets, feed, hay, and bedding, or if you will need to purchase and provide those.

Can I Get Involved with a Pony Rescue Without Adopting a Connemara Pony?

Sure. Volunteering at a local pony rescue is a great idea to help familiarize yourself with Connemara Ponies without enduring the financial and time commitment of ownership. Connemara Ponies Rescues and general pony recuses need volunteers, and this is an excellent way to understand what kind of pony temperament is best for you. You’ll also quickly become very knowledgeable about Connemara pony care, while satisfying your desire to enjoy time with Connemara Ponies.

What is it Like to Adopt from a Pony Rescue?

A pony adoption rescue will request that you fill out an application, and come into the rescue to meet with a staff member to initiate the adoption process. While meeting, rescue volunteers will review the ponies within their organization and try to find one that will meet your lifestyle, and expectations. Anticipate that the rescue volunteers will inspect the new home you’re providing for the pony, they also will spend time with you and the pony so that it is clear you are getting along well with your potential adoptable pony. Usually adoption agencies will have a donation fee in the range of $600-$1,500. Sometimes rescue volunteers will perform follow-ups with you to make sure everything is going okay.

Why Pony Adoption a Better Option!

Connemara ponies within rescues have sometimes had periods of loneliness and hardship in their lives. Once taken in by a rescue they become forever thankful for an improved life alongside compassionate human caretakers and social activity with other ponies. ponies available from Connemara pony breeders, and Connemara ponies for sale at large costs are no different or better than a Connemara pony for adoption at rescues. With care almost any pony has the potential to become an enriching companion. Please don’t buy a Connemara pony before looking into adoption. Here are several pony adoption success stories

We want to spread the word!

If you have contact info for a shelter in one of these places that does not have pets posted with us, please e-mail us and we'll contact them.

California Los Angeles, Orange County, San Diego, San Francisco, Irvine, San Bernardino, Riverside, Fresno, Oakland, Sacramento, Ventura, Santa Barbara, San Luis Obispo, Bakersfield, Ontario, Walnut Creek, Santa Cruz, Northern, Southern, Central, Concord, Hanford, Los Angeles County, Long Beach, Santa Ana, Riverside County, Mission Viejo, Yolo, San Bernardino County, San Francisco, San Jose, San Rafael, Novato Santa Clara County, San Fernando Valley, Simi Valley, San Gabriel Valley

Texas Dallas, Fort Worth, Houston, Waco, Austin, El Paso, Corpus Christi, Abilene, Amarillo, Western Texas, Eastern Texas, San Marcos, Dallas County, Harris County, Galveston, Brazoria, McAllen, San Antonio

New York New York City, Manhattan, Brooklyn, Long Island, Syracuse, Rochester, Buffalo, Albany, Niagara Falls, Kings County, Queens County, Bronx, Brooklyn, Manhattan, Queens, Staten Island

Florida Miami, Tampa, Orlando, Gainesville, Tallahassee, Pensacola, Fort Lauderdale, Daytona Beach, Jacksonville, Broward County, Miami Dade County, Sarasota, Bradenton, St. Petersburg, Clearwater, West Palm Beach, Boca Raton

Illinois Chicago, Springfield, Peoria, DeKalb, Bloomington, Cook County

Pennsylvania Philadelphia, Harrisburg, Pittsburgh, Lancaster, Allentown, Erie, Bethlehem

Ohio Cleveland, Toledo, Columbus, Dayton, Cincinnati, Canton, Akron, Youngstown, Hamilton

Michigan Detroit, Lansing, Grand Rapids, Saginaw, Ann Arbor, Flint Michigan, Holland, Wayne County

Ontario Toronto, Ottawa, Windsor, Kingston

New Jersey Newark, Trenton, Jersey City, Atlantic City, Camden, New Brunswick, Hackensack

Georgia Atlanta, Augusta, Savannah, Valdosta

North Carolina Charlotte, Raleigh, Durham, Winston-Salem, Greensboro, Gastonia, Rock Hill, High Point, Chapel Hill

Virginia Richmond, Arlington, Norfolk, Lynchburg, Roanoke, Virginia Beach, Newport News

Massachusetts Boston, Springfield, Worcester, Cape Cod, Lawrence, Fall River

Indiana Indianapolis, Evansville, Gary, Muncie, Bloomington, Richmond, Centerville

Quebec Montreal, Quebec City

Washington Seattle, Tacoma, Spokane, Everett, Kirkland, Bellingham, Vancouver, King County, Bremerton

Tennessee Nashville, Knoxville, Memphis, Chattanooga, Clarksville, Jackson, Davidson

Missouri St. Louis, Kansas City, Springfield, Jefferson City, Muskegon, Holland

Wisconsin Milwaukee, Madison, Green Bay, Oshkosh, Kenosha, Wisconsin, Racine

Maryland Baltimore, Annapolis, Bethesda, Gaithersburg

Arizona Flagstaff, Phoenix, Mesa, Yuma, Tucson, Maricopa County, Casa Grande

Minnesota Minneapolis, St. Paul, Rochester, Duluth

Louisiana New Orleans, Lafayette, Baton Rouge

Alabama Birmingham, Montgomery, Mobile, Huntsville, Tuscaloosa, Decatur

Colorado Denver, Boulder, Colorado Springs, Grand Junction, Fort Collins, Aurora, Greeley

Kentucky Louisville, Lexington, Bowling Green

South CarolinaColumbia, Charleston, Greenville

Oklahoma Oklahoma City, Tulsa, Muskogee

Oregon Portland, Eugene, Ashland, Klamath Falls, Salem

Connecticut Hartford, Bridgeport, New Haven, Waterbury, Stamford

Iowa Des Moines, Sioux City

Mississippi Jackson, Gulfport

Kansas Topeka, Wichita, Kansas City, Dodge City

Alberta Edmonton, Calgary

Arkansas Little Rock Texarkana

Utah Salt Lake City, Ogden, Provo, Cedar City, Moab

Nevada Reno, Las Vegas, Henderson, Carson City

New Mexico Albuquerque, Santa Fe, Los Alamos, Alamogordo

West Virginia Charleston, Clarksburg

Nebraska Omaha, Lincoln

Idaho Boise, Twin Falls, Idaho Falls

Maine Portland, Kennebunk, Augusta

New Hampshire Concord, Manchester, Nashua, Berlin

HawaiiHonolulu, Oahu, Maui, Hilo, Kailua

Rhode Island Providence, Newport, Portsmouth, Warwick

British Columbia Victoria, Vancouver, Prince George

Montana Billings, Great Falls, Bozeman, Missoula, Helena

Nova Scotia Halifax

Delaware Wilmington, Dover, Georgetown

South Dakota Rapid City, Pierre, Sioux Falls

Newfoundland and Labrador St. John's

North Dakota Bismarck, Fargo, Grand Forks

Alaska Fairbanks, Anchorage, Juneau

Manitoba Winnipeg

Vermont Burlington, Montpelier, Newport, Bennington

District of Columbia Washington DC

Wyoming Cheyenne, Jackson

New Brunswick Fredericton

Saskatchewan Regina

Prince Edward Island Charlottetown

Northwest Territories Yellowknife

Yukon Whitehorse


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text:
Sharon Stoned, Donuts Dunked, Whites Whacked, Coors Coursed

-Dior has dumped Sharon Stone as spokesperson for comments she made about China while at Cannes: "I'm not happy about the way the Chinese are treating the Tibetans because I don't think anyone should be unkind to anyone else. And then the earthquake and all this stuff happened, and then I thought, is that karma? When you're not nice that the bad things happen to you?"

- Psst. "Dunkin' Donuts is one of our sponsors."

- New York's tourist campaign has been dubbed too white and misrepresents the ethnic make up of the city.

- That Coors Light Perfect Pour dude is back with even more goofy pour stunts that, so totally unbelievable.

by Steve Hall    May-30-08   Click to Comment
Topic: Brands, Campaigns, Celebrity, Trends and Culture

Enjoy what you've read? Subscribe to Adrants Daily and receive the daily contents of this site each day along with free whitepapers.

Stone's observation seems pretty accurate, especially when compared to recent remarks from Rev Wright, Pat Robertson and other religious nut jobs that seemed much more mean-spirited in their attacks on U.S.

The lesson: You have to be officially associated with a religion to spout these observations and you must keep your karmic judgements to the U.S.

Posted by: John Gillett on May 30, 2008 1:34 PM

I think she got carried away with the media's "beat on China" can always count on her to say/do the most inappopriate things!

Posted by: Shana Ting Lipton on May 30, 2008 1:35 PM

Stone's observation, posed as a question, seemed innocent compared to the ravings of Rev. Wright, Pat Robertson and other religious wack jobs.

The lesson: If you want to spout trash about a nation you must be officially affiliated with a religion and you must bash the U.S. as a racist or gay-loving cesspool.

Being friends with the dali Lama doesn't count.

Posted by: John Gillett on May 30, 2008 1:47 PM

Re: the perfect pour spot. I have never seen such a transparent example of old codgers trying to write a "viral" that will appeal to the bros and dudes of America.

Crapity crap crap.

Posted by: Geoff on June 3, 2008 5:49 PM

Featured FREE Resource:


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MSc in Biostatistics Scholarship in Belgium

by M T
(Addis Ababa)

MSc in Biostatistics Scholarship in Belgium; Scholarships for Master of Science in Statistics - Specialisation Biostatistics. Belgium Scholarships for International Students from Developing Countries. Undergraduate Belgium Scholarships, PhD Scholarships in Belgium, Master Scholarships in Belgium, Postdoc Scholarships and Fellowships in Belgium.

Q. I am Ethiopian, and a graduate of Addis Ababa University with BSc degree in Statistics.

Currently I need to upgrade my skill and hence to I want to pursue MSc in Biostatistics or Bioinformatics or Statistics.

I am looking for your kind support for my career dreams come true.

For more information, see: List of MSc in Biostatistics Scholarships in Belgium

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Jungle Junction Party Invitations and an Immaculate Winner!

Hello readers, I would like you to meet my nightmare friend, Ellyvan from Jungle Junction, a giant blue elephant on wheels (who thinks of this stuff?): I only say “nightmare” because my soon-to-be 3 year old LOVES this show (the real nightmare is my oldest son who planted the idea in his brother’s head for […]


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“The most informative and useful in-house training Scotscare received.”

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In-house training, customised for your organisation, can be a convenient and cost-effective way to train a team of staff, volunteers or committee members.
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text:
"Ex-gay" ministry files lawsuit against Tennessee

The "ex-gay"
ministry Love in Action has filed a federal lawsuit
against the state of Tennessee in response to state
officials ordering the group to obtain a license
or shut down.
Love in Action made national headlines last May
when 16-year-old Zach Stark was forced by his parents
to enter the ex-gay program and voiced his concern on
his Web log. Tennessee health officials ordered Love in
Action to get licensed by September 30 or cease operating.
The state says it regulates any facility that houses
clients with diagnosed mental illness and
administers medications for their treatment. A pair of state
inspections determined that Love in Action was housing two
clients clinically diagnosed with mental illness and
that the clients' medications were kept in a locked
cabinet, to be dispensed by Love in Action personnel.
Love in Action responded to the order by filing
suit against the state in federal court Friday. Nate
Kellum, attorney for Love in Action, believes the
state does not have the right to regulate faith-based
organizations "It's repugnant for a faith-based
institution, a Christian ministry, to come under the
regulation of the state," he said.
State of Tennessee spokeswoman Lola Potter said
the department will show that the organization's
programs address mental health concerns. She called
the lawsuit unfortunate and unnecessary. (James Lehmann,
Sirius OutQ News)

Tags: World


text:
Legal experts question Kentucky GSA policy

By admin

Originally published on August 13 2003 12:00 AM ET

Two law professors question whether a Boyd County, Ky., school board policy that will allow a students' gay rights group to meet after school complies with federal equal access laws. The Boyd County school board is expected to give final approval to the policy on August 18. The board also will ask a federal judge to lift an injunction that now allows the Boyd County High School Gay-Straight Alliance to meet at school before or after school hours or during the lunch period. The board contends the new policy treats the alliance the same as other noncurricular clubs, in compliance with the federal Equal Access Act.

Sam Marcosson, a civil rights and constitutional law professor at the University of Louisville, says that depends on how it's enforced. "On the face of it, the [policy's] terms seem consistent with the Equal Access Act," Marcosson said. "But the big question in all of this is not what their policy says on its face but what is actually happening in the schools."

Carolyn Bratt, a University of Kentucky law professor who works on gender issues, said she doubts the policy would prompt the judge--U.S. district judge David L. Bunning--to lift the injunction, because it grew out of a desire to stop the alliance from meeting. "No matter how they try to dress this up, it is motivated by and an attempt to exclude the Gay-Straight Alliance," Bratt said. "I don't think the court is going to forget where this all started. It started from an impermissible intention."

The controversy heated up last October, when the high school's teacher-parent council voted to let the alliance meet at school. The action prompted a school boycott and opposition from local ministers and others. The school board then voted in December to ban all clubs from meeting at the high school and pledged to write a new policy on clubs. A month later the American Civil Liberties Union sued the district on behalf of the alliance, saying the high school violated the Equal Access Act by letting some noncurricular clubs meet despite the ban while not allowing the alliance to meet.

The district denied the allegations, but Bunning issued a preliminary injunction in April saying the school had violated the Equal Access Act. He ordered the school to let the alliance meet and ordered the two sides to mediate their differences. The ACLU and the district couldn't come to an agreement, and the new policy was drafted.

Winter Huff, a lawyer who helped write the policy, said the district plans to take the new policy to Bunning and ask him to lift the injunction. "It is the fulfillment of an issue that has existed since before this specific controversy, and that is to what extent are activities other than course work appropriate during the school day and to what extent does the school district need to be involved in that?" Huff said. "What the district is saying is, we want the school day to fulfill [academic] purposes; we want the school day to be spent on things that are instructional or curricular."

Huff said that noncurricular clubs such as the alliance, the Bible Club, and the Key Club community service group would be allowed to meet at school on the same terms and that she believes the policy is in compliance with the Equal Access Act. The policy would allow noncurricular activities to take place at the school only after school hours--defined as the time buses begin loading, around 4 p.m.


text:
WATCH: Ruth Bader Ginsburg Looks Into Future on Marriage Equality

By Lucas Grindley

Originally published on August 02 2014 8:10 PM ET

Justice Ruth Bader Ginsburg warns that we shouldn't assume the Supreme Court is purposely keeping out of the argument over constitutionality of same-sex marriage bans.
In an interview with Katie Couric for Yahoo! News, the justice was asked whether her criticism of the Roe v. Wade opinion — which she argues is so broad that it created unnecessary political repercussions — also applies to marriage equality cases.
"That remains to be seen," said a smiling Ginsburg. "The court took the first step in DOMA. There will be other cases to come before the court, if not in the new term, then in the term after, or the one after that. Sooner or later the court will answer that question, and of course I can't predict how the court will decide an issue that may come before it."
Ginsburg explained why she although she supports the outcome of Roe v. Wade, she wishes the opinion had been more specific.
"That gave the right-to-life people a single target to move at, and for them it was a very effective target," she said. "It was nine unelected judges making a decision that they argued should be made by individual state legislatures."
Watch the complete interview below:


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Old 10-22-2012, 07:35 AM   #316
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Location: Seat of my Ruckus
Oddometer: 12,080
The following morning we had eggs and coffee for breakfast. It hit the spot. My family went on to church for the Sunday and I chose to explore and go riding. The scenery was beautiful in the crisp morning air. Nearly every church parking lot was filled.

These Canada Geese have the right idea heading South for the winter. I should take a queue from them and quit riding North every weekend!

I'm a big fan of Roadside America's App and found a number of neat locations on my route for the day. First up is America's oldest operational Drive In, in operation since 1934.

This old bridge and mill warranted a phot break.

Second up for the day is a grain silo converted to a the middle of the countryside

And continuing with the seafaring theme: A peg-leg pirate

I happened across an antique store/old mill.

Any clue what this thing is/was?

Maybe something from a video game?

Then I came to a fork in the road.

Followed by a paddlewheel riverboat many miles from a waterway.

These Amish statues had the strangest raccoon eyes

I passed through Virginville without taking my pick. I'll save Intercourse for another trip

I rode over a few mountain passes to Pottsville, PA. Home of Yuengling.

I always spot this statue on the hill and decided to go see what it was.

This strange Gargoyle Fountainin town outside the YWCA was used for thirsty horses.

Shucks! Closed on Sunday

I'll be back.

What a neat little snow route sign.

After leaving Pottsville, I spotted a sideroad called "Black Diamond Rd" That sounds Bunny Slope. It wound it's way up to a coalfield.

These coal seams were dug 20 feet down or more.

I continued following the GPS on a "Road" until we reached the railroad tracks. It was clear that the blockage below was not going to allow the GS to pass. You can see a small portion of the rocks which comprised this road. It was technical but nowhere near as hard as what was to come.

I made it back up the steep rocky slope and paused for some water and a banana. I had respect for this minature oak trying to make it's existence through the hard ground.

I looped back to Black Diamond Rd and saw that it came out in Newtown and was called Church St or Twp. Hwy 571. That sounds promising right?!

The road started to get worse

And worse

At one point I was on top of a steep hill with no way to turn around. There was a 2-3" tree blocking the trail and a rut to the left. I had only one use the weight of the GS and the power of the 1150cc engine to break through the tree and hopefully not land on my arse. I made it through but dragged the tree in front of my rear wheel a few feet before it broke loose.

Then the road turned into this:

I was roughly following these hand drawn arrows on ATV paths that sort of mimicked the highway I was supposed to be on.

Taking a breather. This was a serious workout

This final portion of road up to Newtown was incredibly difficult and really tested my skills to the limit and beyond. Drops, ledges, ruts, basketball sized rocks, tree branches and mud. It was spectacular.

Just when I can see the Church on Church St. I come to this! I could have used a sip of Whisky by this point

I unloaded the GS. That's how I know things are about to get real serious.

This hill was the only option out. I could brave the 45% slope at 90 degree angle to the trail on the ATV path (to left of tree) or make my own route up beside this tree. I attempted this route but dug in the rear about halfway up the hill. IT took all my strength not to dump her there and then walk her back down the hill. Phew.

The hill above the bike to the left was one of the only exits. I ran up it a bunch of times. It was easily 10ft above the trail, nearly vertical and had roots at the top. Not ideal. Probably not possible without full on knobbies. Did I mention I had a full tank of fuel!

I got crossed up in this deep rut where both the front and rear tires were in their own separate gullies. I just lowered her down to go figure out what to do and how to get out.

I wound up dragging the bike around on the crash bars. From here I was going to attempt the suicide hill when I heard a truck approach. I was dripping sweat and very weak but decided I'd go ask for help or advice. I spoke with the large man with thick PA mountain accent. He told me another ATV trail went off to the north but looped around behind the cemetery. If I could make it up there I may be free! Sorry I have no pics of this since I left my camera with my luggage (so as not to break it). I fell about 3 or 4 times trying to make it up an antrhacite coal hill with loose slag and boulders. Nearing the top, I could barely stand up. I fell overand just sat there next to the bike. Blood pumping through my ears, I needed a rest. Why did I leave my water back with the luggage. Breathe.

The next thing I see, there are three mid-twenties guys walking toward me, guns over their shoulder and beer in hand. "Hey guys! Mind giving me a hand?!"

"Sure! We've been hearing you making a racket out here for a while" They helped push me up while I rode out of the steep hill. This put me on to the coalfields paths which eventually guided me back around the cemetery. I gave them a wave and told em I'd give em any liquor I had if I had any! They couldn't believe I was there on such a big bike. They'd lived there their whole lives and had never seen anyone ride anything that big through there

Oh hells yes

Earned some character marks.

I continued down the road for about 10 minutes until I was chilled to the bone. Everything I was wearing was sweat through. I stopped at a church and changed everything I was wearing. Oh man Dry clothes felt incredible.

and back on down the road with a huge sense of accomplishment. When in doubt, ask a local It has saved me numerous times.

Tower Rd looked cool and went up to this rise but half the way up, it was illegal to pass. Damn.

Red Rock trail as the sun began to sink lower in the sky.

Tactical Vehicles? Where the hell am I?

I'm getting the feeling I shouldn't be here...

Confirmed. GPS had me routed down this road...

I had come from this direction but turned around to take the pic.

Standard construction military buildings circa mid 40's. I've seen these from CA to Newfoundland to Georgia to PA

Ahhh Now it makes sense

I set the GPS toward home and made it to Harrisburg with less than an hour to spare before sunset. Here is a bridge over toward the state capital. It looks like it could be in Europe

Old Saab converted to Electric was cool!

I decided to go check out this island in the middle of the Susquehanna River.

Took a break there and watched this train cross the river.

On the road again

Chasing my shadow down twolane roads at sunset is high on my list of favorite things.

Goodbye sun

Passed the York Barbell Man on 83S then continued on to Baltimore 695 and 29S to 495 on home by 8PM

Celebrated with a 8.5% Pumking beer with a friend at the beer garden. Well deserved after this day!
Lost with Mike
Only those that go would know. - WayneJ
12' Ruckus, 01' R1150GS, 75' XL250
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Thread: Broncos Country
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Old 12-08-2012, 04:53 AM   #1953
Joined: Sep 2004
Oddometer: 23,300
Originally Posted by spanky View Post
Oh stop with the self righteous indignation. Like you really give a shit about Al Davis...
without al davis you wouldn't have football in denver
I might not like the bears but I respect G. Hallas and what he did for football
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Old 01-03-2013, 06:49 AM   #1160
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Location: In the mountains?
Oddometer: 1,695
Update on the cam rollers

KTM here in Istanbul had both exhaust and intake rockers so i'll be replacing both. My friend Tolga is at the KTM shop right now. He convinced them to let me borrow a shim kit and bring back the ones I don't use tomorrow

Pays to have an ADV friend who can speak Turkish!
Noah 08 KTM 690 ADV. 125,000 km. 42 countries. 5 continents and counting.
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Old 01-12-2013, 06:59 AM   #60
Will ride for food
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Joined: Nov 2008
Location: West Mitten
Oddometer: 4,398
I had two Buls, a Alpina and a Frontera. Started riding on Yamaha enduros but all the cool fast guys rode Bultacos. There was a Bultaco dealer at the end of my street in Wyoming Mich., Garrisons Modern Sports. Dean Garrison was one fast dude. Many times he would sit on a bike in the showroom or parking lot and talk to customers......with the side stand up and his feet on the pegs. I wonder what happened to him? I fell in love with the Alpina when they came out; super quiet and fast in the tight single tracks which there were alot of in Michigan in the 70s. I saw an ad in Cycle News where Budda Cycles in Cali were selling Fronteras cheap at the end of the year so I sent them a check for about $900 and they shipped me a 360 all the way to Michigan. Talk about trust, you would never do that nowadays. I never had any mechanical issues with either bike but once in a while the exhaust on the Frontera would carbon up and catch fire. I would go down the road with sparks flying everywhere. I replaced the steel fenders on both bikes with Preston Pettys and trashed the new stock fenders... No pictures of the bikes but I still have a Steves Bultaco sweatshirt in the closet.....Thanks for starting this thread.
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Old 07-06-2013, 08:23 AM   #17
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Location: Dakar
Oddometer: 1,033
Here ya go Dorito, I think this was supposed to become the InterContinental Hotel Dakar.

I googled it and I'm not so sure it will be ready to go in 2013.

Hauling re-bar the old school way

"First, we will pray, then we will surf!" Mosque of the Divinity and what appears to be a beach club in front of it.

Recon goats! Checking out the route before the rest of the herd crosses. See how the first one is eyeing me?

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Movieline Staff Editor Jumps to

By Richard Horgan Comment

One of Movieline’s two staff editors, Julie Miller, is leaving to join the blogger ranks of Vanity Fair starting January 3. She will continue to cover Hollywood junkets as well as film festivals and hone in for on the final two months of 2011 film awards season.

“Julie is smart, fresh, and very funny, and we are thrilled she
is on our team,” says digital editor Chris Rovzar. Miller, a Pittsburgh native, will remain based in Los Angeles.

Prior to joining the Penske Media fold, she contributed to, worked for commercial production companies and interned at the Late Show with David Letterman.

For a sampling of Miller’s most recent Movieline contributions, click here.


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Adolescents wouldn't be quite as objectionable if advertising didn't encourage it. In ads for video games, junk foods and other necessities of life, a raucous bad-boy image is de rigueur (or perhaps duh rigueur). Even the kids must find this faux outlaw sensibility tedious after a while. How nice, then, to see an ad that lampoons this genre bytaking it to ludicrous extremes. A satanic parody ("Corn Gone Wrong" indeed!) is just the thing to elevate the brand's Hipness Quotient. The ability to mock one's peers is highly prized in youthfulcircles, don't forget, so Corn Nuts' success in implicitly doing so will win the admiration of this target audience. The copy's praise of the product as "surprisingly hardcore corn snacks" is all but meaningless. Unlike most meaningless copy, though, it doesn't pretend to be meaningful, and that in itself makes the brand likable. Instead of flaunting an outlaw sensibility to deride the norms of parents, the ad derides the norms of youth-marketing copywriters and art directors. That's a useful innovation if ever there was one.Agency

Perich + Partners,

Ann Arbor, Mich.

Harman International,

Northridge, Calif.

Creative Director

Ernie Perich

Art Director

Andy Dempster

Kristine KazarianAgency

FCB, New York

Nabisco, New York

Creative Directors

Sandy Greenberg

Terri Meyer

Art Director

Miguel Nogueras

Scott Rosenblit

Michael Koelsch


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Safeway Taps Dailey

LOS ANGELES--National food and drug retailer Safeway has awarded its creative shop, Dailey & Associates, media planning and buying duties for its seven chains, an assignment worth an estimated $100 million.

Dailey, an Interpublic Group of Cos. agency based in West Hollywood, Calif., won the business without a review. The incumbent on planning was J. Walter Thompson in Detroit. Buying was handled by various offices of JWT's media-agency sibling MindShare.

Dailey president Brian Morris said the win "really reflects on our strong media department.

"It shows a lot of faith in our capabilities," he added.

Debra Lambert, corporate director of public affairs for Safeway, declined to give details about the decision to move media to the company's creative and marketing shop. "We consider that strategic," she said.

Clearly, though, persistence paid off for Dailey. After Dailey won creative for Vons in 1994, Safeway acquired the supermarket retailer three years later. As Safeway went on to acquire additional chains, Dailey pitched the retailer on each individual acquisition until the shop was named creative agency for all the retailer's brands late last year.

Included in the media assignment are buying and planning for Safeway, Vons and Vons Pavilions supermarkets, which are mostly in the western U.S.; Chicago-area retailer Dominick's Supermarkets; Alaskan grocery chain Carr-Gottstein Foods; Texas chain Randall's Food Markets; and Genuardi's Family Markets, which operates supermarkets on the East Coast.

Dailey handles various retail accounts, including Southern California Ford Dealers Association, El Pollo Loco, and Honda Motorcycles and Scooters. The agency claims billings of about $470 million.

Safeway operates approximately 1,700 stores around the country.


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Events: The National Black PR Society Conference

By Patrick Coffee Comment

Don’t let tonight’s debate push the The National Black Public Relations Society’s 2012 Conference and Career Fair off your DC PR radar.

Hundreds of PR pros from around the country will gather in our nation’s capital this Thursday through Sunday for four days of professional development, networking activities, career advancement sessions under the theme “Your Network @ Work: Facing Challenges, Taking Charge and Changing the Game.”

In the words of NBPRS President Deborah Hyman, “Public relations has never been more relevant on a global scale and especially in this election year.”

“We know that social media is replacing traditional media at warp speed so PR professionals have to continually expand our knowledge base to succeed…Our conference will focus on discussing critical issues, professional development and obtaining jobs for our members.”

The Conference will take place at Howard University and the Dupont Circle Hotel; check out the event page for more details and registration information.


text:
INFOGRAPHIC: Back To School Often Means Back To Facebook Cyber-Bullying

By David Cohen

The words “back to school” make some kids even more unhappy than others, as returning to the classroom often coincides with returning to being the victim of bullying, and a recent study by McAfee found that Facebook is the most prominent vehicle of the cyber form of such behavior.

According to McAfee’s 2012 Teen Internet Behavior Study, 92.6 percent of teens surveyed said they have witnessed cyber-bullying on Facebook, far outpacing the other social networks, although, in all fairness, the most popular social network is an obvious choice to be cited the most. Facebook was trailed by:

Other findings by McAfee included:

  • Nearly 25 percent of teen respondents said they were targets of cyber-bullying, and two-thirds witnessed cruel behavior online.
  • Only one out of 10 parents were aware that their teen children could be cyber-bullying targets.
  • 40 percent of teens have tried to stop cyber-attacks on others, while 20.7 percent told adults, and 6.3 percent joined in.
  • 65.8 percent of victims responded to their attackers, including 35 percent in person, while 15.4 percent avoided school, and 4.5 percent ended up in physical fights with their attackers.


text:
By Lauren Dugan Comment

Over 32,000 tweets-per-minute were sent on Twitter this weekend, as Chelsea triumphed dramatically over Bayern Munich during the Champions League Final.

Twitter was all a-buzz on Saturday as the two football teams faced off for one of the most coveted trophies in the sport. Users sent 32,097 tweets-per-minute at the peak of the game.

Brand Watch explored when users were tweeting most during the match, and came to the conclusion that Twitter is becoming increasingly important for live TV events: half of all the tweets about the game were sent while it was being played live.

Take a look at the volume of tweets sent each minute between 7PM and midnight on Saturday:

That first big spike in tweet volume occurred when Chelsea striker Didier Drogba performed a header to tie up the game, and the second, larger spike was the excitement at the end of the game, and was where the tweets-per-minute record was set.

Prior to this match, several sports events created tweeting records of their own, including this year’s Super Bowl and Chelsea and Barcelona’s match earlier in the League.

And the most-tweeted event in Twitter history thus far is held by the TV airing of a popular Japanese anime movie, Castle in the Sky, which saw 25,088 tweets-per-second at its peak.

Other notable events which garnered high tweets-per-second numbers include Beyonce’s baby announcement which was the record holder in August 2011 with just under 9,000 tweets-per-second and this year’s New Year celebration in Japan which saw 16,000 tweets-per-second.

(Chelsea/Bayern Munich image via Shutterstock)


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KKCO Investigates Tooth Found in a Box of Ice Cream

By Andrew Gauthier Comment

“There was a foreign object in my ice cream,” Kenneth Smalley, a resident of Grand Junction, CO, informed local NBC-affiliate KKCO.  “All the sudden there was a chocolate chip that wasn’t melting.”

Smalley suspected that the object was a tooth so KKCO took it to a dentist for further inspection (video above).

While a dental hygienist backed up Smalley’s claim that it certainly looked like a tooth, Dr. John Poovey, a general dentist, concluded that it was “100 percent” not a tooth. Poovey guessed that it was just a piece of plastic. The verdict brought relief to Smalley, but perhaps disappointment to KKCO reporter Aaron Luna, who may have thought that he had a major consumer advocacy story on his hands.


text:
July 12, 2013

Dempsey calls on Americans to discuss civil-military relations

Jim Garamone
American Forces Press Service

WASHINGTON, D.C. – America’s all-volunteer military has been a success, but society at large and service members must ensure a shared understanding exists between them, Army Gen. Martin E. Dempsey, the chairman of the Joint Chiefs of Staff, wrote in a commentary in the Washington Post today.

Dempsey described the all-volunteer force as one of America’s finest achievements. The military is so good, he wrote, that many Americans take it for granted.

“The last decade of war has affected the relationship between our society and the military,” Dempsey wrote. “We can’t allow a sense of separation to grow between us. As the all-volunteer force enters its fifth decade, civilians and the military need to maintain the shared understanding necessary for a healthy relationship.”

Dempsey wrote that the nation needs to discuss the military-civil relationship, as well as the nation’s relationship with its service members.

“As a nation, we’ve learned to separate the warrior from the war,” he wrote. “But we still have much to learn about how to connect the warrior to the citizen.”

Since the end of conscription in July 1973, those entering the military have served as volunteers. In his commentary, Dempsey urged America’s civilians to establish a dialogue with their fellow citizens who serve in the all-volunteer force.

“As citizens, we must listen to our veterans,” the chairman wrote. “If we do, we’ll hear stories of pride and courage, anger and pain, laughter and joy. We’ll hear of actions that humble and inspire us. We’ll also hear of moments that break our hearts. These stories represent the best of our nation.”

Service members also bear a responsibility to communicate with their fellow citizens, Dempsey wrote. “We should tell our stories and recognize that those who aren’t in uniform might not know what to say or ask,” he added. “We also have a duty to listen. Our fellow citizens may have different perspectives that we need to hear and understand.”

The services as well as veterans understand the need for fiscal change, the general wrote. Cuts in funding, he added, are not an attack on veterans and their families.

“Modest reforms to pay and compensation will improve readiness and modernization,” Dempsey wrote. “They will help keep our all-volunteer force sustainable and strong. Keeping faith also means investing sufficient resources so that we can uphold our sacred obligations to defend the nation and to send our sons and daughters to war with only the best training, leadership and equipment. We can’t shrink from our obligations to one another. The stakes are too high.”

Service members and veterans must remember that public service takes many forms, Dempsey wrote.

“Across our country, police officers, firefighters, teachers, coaches, pastors, scout masters, business people and many others serve their communities every day,” he added. “Military service makes us different, but the desire to contribute permeates every corner of the United States.”

The nation cannot afford allowing the military to disconnect from American society, Dempsey wrote.

“We must guard against letting military service become a job for others,” he added. “Children of those in the military are far more likely to join than the children of those who are not. And young men and women in some areas never even consider the military as one of many ways to serve our nation.”

Some fault for this, Dempsey said, lies with the military. Service members, he added, cannot just stay on bases and remain in their own world.

“But we didn’t stop being citizens when we put on the uniform,” Dempsey wrote. “We came from small towns and big cities across our country, and we’ll go back one day. Civilians aren’t an abstraction; they’re our parents, grandparents, siblings and friends.”

An all-volunteer force is actually the norm for the United States, the chairman wrote, noting that since 1787, the nation used conscription for only 35 years.

“Except in times of great crisis, we have relied on a tradition of selfless service,” Dempsey wrote. “The all-volunteer force continues that tradition. It has served our nation well for the past 40 years. To do so for the next 40, we’ll have to work at it together.”

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July 5, 2012

Air National Guard announces C-130 crash victims

by Lt. Col. Robert Carver
North Carolina National Guard

Four airmen died and two others were seriously injured when a Modular Airborne Fire Fighting System-equipped C-130 Hercules crashed July 1 while fighting a woodland fire in southwestern South Dakota.

Dead are Lt. Col. Paul K. Mikeal, 42, of Mooresville, N.C.; Maj. Joseph M. McCormick, 36, of Belmont, N.C.; Maj. Ryan S. David, 35, of Boone, N.C.; and Senior Master Sgt. Robert S. Cannon, 50, of Charlotte.

The crew part of the 145th Airlift Wing with the North Carolina Air National Guard here.

“Words can’t express how much we feel the loss of these Airmen,” said Brig. Gen. Tony McMillan, the 145th AW commander. “Our prayers are with their families, as well as our injured brothers as they recover.”

Mikeal was assigned to the 156th Airlift Squadron as an evaluator pilot and had more than 20 years of service. He leaves behind a wife and two children.

McCormick was an instructor pilot and chief of training for the 156th AS. He was married with four children.

David was an experienced navigator and was also assigned to the 156th AS. He joined the North Carolina Air National Guard in 2011 after prior service in the active-duty Air Force. He is survived by his wife and one child.

Cannon had more than 29 years with the Charlotte unit and was a flight engineer with the 145th Operations Support Flight. He was married with two children.

The names of the injured will not be released. Both of the injured airmen remain hospitalized.

The crew and its aircraft, along with two other 145th AS C-130s and three dozen Airmen, flew from Charlotte, N.C., to Peterson Air Force Base in Colorado Springs, Colo., June 30 to assist with fighting forest fires in the Rocky Mountain region. They were due to move to a base in Cheyenne, Wyo., July 2. The crash occurred around 6:30 p.m. Mountain time near Edgemont, S.D., as the crew assisted with battling what is being called the White Draw fire. The cause of the crash is unknown and is under investigation.

North Carolina Gov. Bev Perdue declared that flags will be flown at half staff July 3 and President Obama expressed condolences honoring the dead Airmen.

“The support of civil authorities during natural disasters is a key and unique mission of the National Guard,” said Army Maj. Gen. Gregory Lusk, the adjutant general of the North Carolina National Guard. “The MAFFS mission is probably one of the seminal missions of the Air National Guard, representing interagency coordination between the Guard and the U.S. Forest Service, the Department of Homeland Security, and Department of Defense organizations to suppress the fires.”

MAFFS is a joint Department of Defense and U.S. Forest Service program designed to provide additional aerial firefighting resources when commercial and private air tankers are no longer able to meet the needs of the forest service.

MAFFS is a self-contained aerial firefighting system owned by the U.S. Forest Service that can discharge 3,000 gallons of water or fire retardant in less than five seconds, covering an area one-quarter of a mile long by 100 feet wide. Retardant is discharged along the leading edge of a fire while water can be dropped directly on the flames. Once the load is discharged, it can be refilled in less than 12 minutes.

According to Forest Service records, the agency had worked with the North Carolina Air National Guard on fire suppression missions since the early 1970s.

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Headlines July 7, 2015

News: F-35 loses dogfight to fighter jet from 1980s – A new report alleges that an F-35A was defeated by the very aircraft it is meant to replace.   Business: South Korea selects Airbus for $1.33 billion tanker contract – European aerospace giant Airbus won a $1.33 billion deal June 30 to supply air refueling...
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Upgraded AWACS platform tested at Northern Edge

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AES Conventions and Conferences

Return to 117th
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Biography of Robert Moog

Robert Moog was born in 1934 in New York City. His academic degrees include a BS in Physics from Queens College (New York City), a BS in Electrical Engineering from Columbia University (New York City), and a PhD in Engineering Physics from Cornell University (Ithaca, NY).

In 1954, Moog founded the R. A. Moog Company as a part-time business to design and build electronic musical instruments, particularly theremins. The company became a full-time business in 1964, the year it introduced electronic music modules and synthesizers. Moog Music manufactured Moog Modular, Minimoog, and other Moog analog synthesizers. Moog served as president of Moog Music until the end of 1977.

The Moog family moved from New York State to western North Carolina in 1978. There he founded Big Briar, Inc. for the purpose of designing and building novel electronic music equipment, especially new types of performance control devices. From 1984 to 1989, Moog was Vice President of New Product Research for Kurzweil Music Systems. From 1989 to 1992, he was Research Professor in the Music Department of the University of North Carolina at Asheville. In 2001, Robert Moog reclaimed the ownership of the Moog Music trademark, and in 2002, Big Briar changed its corporate name to Moog Music Inc.

Moog’s awards include honorary doctorates; the Silver Medal of The Audio Engineering Society; the Trustee’s Award of the National Academy of Recording Arts and Sciences in 1970 and a Technical Grammy in 2002. He has written and spoken widely on topics related to music technology, and has contributed major articles to the Encyclopedia Britannica and Encyclopedia of Applied Physics.

At the present time, Robert Moog lives and works in Asheville, North Carolina, where he is Chief Technical Kahuna of Moog Music, Inc.

Biography of Craig Anderton

Craig Anderton is well-known as a performer, composer, inventor, arranger, producer, sound designer, author, editor, and lecturer. He was one of the first musicians to use synthesizers on stage, having built his first synth in 1968. Currently he is a regular contributor to EQ, Keyboard, Pro Sound News, and other journals.

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BHP expects extra cost savings

BHP’s strategy of investing in large, long-life, low-cost, expandable assets is expected to stay unchanged under the leadership of Andrew Mackenzie, right.
BHP’s strategy of investing in large, long-life, low-cost, expandable assets is expected to stay unchanged under the leadership of Andrew Mackenzie, right. Photo: AFP

BHP Billiton chief financial officer Graham Kerr expects the miner will be able to reveal additional cost savings when it releases its annual results in August, building upon the $US1.9 billion of annualised savings made in the first half.

The company is increasingly focusing on productivity and cutting costs as a way to improve its margins as a fall in commodity prices means its full-year underlying earnings are expected to decline by 22 per cent to $US13.3 billion.

Unlike Rio Tinto , which plans to strip $US2 billion of costs from its operations this year and $US3 billion a year from next year, BHP has not set a specific target.

“What our investors and the market should expect at the full-year result in August we will talk more about what we delivered," Mr Kerr told the Bloomberg Australian Economic Summit in Sydney.

“We certainly think this is the start of the journey. We have made good progress but there is more to come."

Mr Kerr admitted some costs, such as the high Australian dollar, were out of BHP’s control. Every $US1c rise in the Australian dollar strips $US120 million from BHP’s earnings.

Macquarie Equities analyst Adrian Wood said with volume growth becoming more expensive and commodity prices falling, he does not expect BHP or Rio will beat their peak 2011 profitability in the coming years. Therefore, to improve returns to shareholders, the miners are increasingly looking to cut operating and capital costs and to sell non-core assets.

Mr Kerr reiterated BHP did not plan to approve any new major growth projects in the current financial year.

He said work on the $US10 billion-plus Jansen potash project in Canada was progressing well but it remained at the feasibility stage and was not expected to be brought to the board for approval until the next financial year.

“We don’t need to make a decision on this yet," he said.

On May 10, BHP non-ferrous head Andrew Mackenzie will take over the chief executive role from Marius Kloppers. Mr Kerr said Mr Mackenzie was likely to have “his own style of how he does things" but the miner’s strategy of investing in large, long-life, low-cost, expandable assets would remain.

“The reality is Andrew has been on our group management committee for the last five and a half years," Mr Kerr said. “So he has been very instrumental in the decisions and directions of where the organisation is going."

BHP chairman Jac Nasser could give more details of the company’s direction in a planned speech to the Australian British Chamber of Commerce in Melbourne today (Thursday).

Mr Kerr said BHP would continue with its program of asset sales after achieving $US4.3 billion from divestments in the first half of the financial year. Those assets included mineral sands in South Africa, diamonds in Canada, an undeveloped uranium deposit in Western Australia and its stake in the Woodside Petroleum -led Browse liquefied natural gas project.

“The market probably ascribed very little value to those assets [in the BHP share price]," Mr Kerr said. “The market probably recognises the fact it had very little impact on our future earnings. So for us it has been a value accretive transaction and very beneficial."

He said BHP was not in a position where large parts of its business were losing money and it had maintained a solid A+ credit rating. “I think you should expect us to continue to work our portfolio, but we will work the portfolio where we see value. There is no sense of urgency on that," he said.

Mr Wood said BHP’s debt levels, including gearing of 31 per cent, were “uncomfortably high" for an A+ rated company. However, BHP has said it is willing to let its rating fall to the single-A level.

On dividends, Mr Kerr said BHP would maintain its progressive policy, designed so the payment never falls, even though some shareholders have called for a defined payout ratio instead.

The Australian Financial Review


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Kingsgate Consolidated (KCN)

by David Ciampa

Broker RBS has cuts its target price on gold miner Kingsgate Consolidate d, but has maintained its buy recommendation on the stock. RBS says improved efficiencies in the quarter, which helped maintain cash costs in line with its forecasts, offset a slightly lower production figure. Gold production for the March quarter was 32,600 ounces was 4 per cent below the broker’s estimates and prompted RBS to reduce its full-year expectations by 2000 ounces to 132,000 ounces. However with total production costs in the bottom 10 per cent of the cost curve and a rising production profile, KCN’s EBIT margins could rise above 50 per cent over the next three years, which would see KCN generate a significant net cash position, according to RBS forecasts. RBS says approval for the expansion of Chatree remained pegged to a tax ruling by Thai authorities but with a favourable ruling could provide some upside to its numbers. The broker dropped its target price to $10.38 from $10.51 a share. Deutsche Bank has upgraded the stock to a “buy" and has a target price of $11 a share.

The Australian Financial Review


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Top of pops in bubble brouhaha

Despite its denials, some observers say the RBA has intervened to cool house prices.
Despite its denials, some observers say the RBA has intervened to cool house prices. Photo: James Davies
by Adrian Rollins

With house prices shrinking and sharemarkets struggling, it might seem an odd time to be worrying about asset bubbles. But even as central banks around the world grapple with the disastrous fall-out from the collapse of property markets in the United States, the United Kingdom and other advanced economies in the past three years, minds have turned to how to prevent a repeat of policy mistakes that inflated two speculative bubbles in 10 years and led to the worst financial crisis since the Depression.

Philip Lowe , who is set to become the second most senior official at the Reserve Bank of Australia when he becomes deputy governor next month, appears in little doubt that central banks have to be more vigilant about asset price growth.

In a stance that has implications for home owners hoping for a return of the heady capital gains experienced in 2003 and late 2009, Lowe argues that central banks can and should act to curb rapid house price increases, particularly when they are accompanied by big rises in credit.

This is no idle threat.

While the Reserve Bank dismisses suggestions that it targets asset prices, observers believe it has acted twice in recent years to prevent booming house prices and lending growth reach damaging levels.

In 2003, when property prices and credit were both growing at annual rates above 20 per cent, senior RBA officials made it clear that such conditions were unsustainable and warned investors against assuming they would continue.

The central bank backed its warnings by raising interest rates in quick succession in late 2003 and, although it denied targeting credit growth or asset prices, house prices decelerated sharply.

More recently, economists believe the Reserve Bank tightened monetary policy much more sharply in late 2009 and early 2010 than it would otherwise because of concerns about an unsustainable rise in property values.

House prices accelerated after the official cash rate was taken down to an emergency low of 3 per cent during the depths of the global financial crisis, and once the threat of a deep global depression had passed a nervous central bank was keen to restore monetary policy to more normal levels.

RBA governor Glenn Stevens cited an appreciable rise in house prices over the previous six months in helping explain the decision taken in October 2009 to begin raising interest rates.

There followed a succession of rate rises that did not end until the following November, when the cash rate reached its recent high of 4.75 per cent.

Until the excoriating experience of the US sub-prime crisis and consequent breakdown of the global financial system, the idea that central banks can and should respond to spiralling asset prices was viewed with great suspicion internationally.

Former US Federal Reserve chairman Alan Greenspan adopted a hands-off approach to asset prices during his tenure, arguing it was easier to clean up the mess caused when a speculative bubble burst than trying to identify one forming.

His successor, Ben Bernanke, said in a speech in late 2002 that although it would be good to rid asset markets of bubbles, monetary policy was the wrong tool.

“First, the Fed cannot reliably identify bubbles in asset prices, [and] second, even if it could, monetary policy is far too blunt a tool for effective use against them," Bernanke said.

Almost 10 years later and confronted with the diametrically opposite problem of asset price deflation, Bernanke accepts that ensuring financial stability should be part of a central bank’s goals, but nonetheless remains unconvinced interest rates are best suited to the task.

In a speech last October, Bernanke argued the debate about whether or not monetary policy should be used to “lean against" asset prices or credit growth missed the point.

“The issue is not whether central bankers should ignore possible financial imbalances –they should not – but, rather, what the right tool for the job is to respond to such imbalances," he said.

“The evolving consensus, which is by no means settled, is that monetary policy is too blunt a tool to be routinely used to address possible financial imbalances.

“Instead, monetary policy should remain focused on macro-economic objectives, while more-targeted micro-prudential and macro-prudential tools should be used to address developing risks to financial stability."

Lowe, in a paper co-authored with Jonathon Kearns and released by the RBA late last week, admits the debate on how central banks should react to rising asset prices is far from settled. But he appears in no doubt that the hands-off approach advocated by Greenspan is no longer sustainable.

“The weight of [international] opinion has shifted somewhat towards the view that in some situations it may be appropriate to respond to a big run-up in assets prices that is accompanied by rapid credit expansion," Lowe and Kearns argue in their paper.

“In particular, in some situations, responding to financial imbalances may deliver an average inflation rate that is closer to the target and less volatile, even if it results in some short-run deviation from the target. This is particularly so if such a response can help avoid a costly ‘boom and bust’ that damages the financial system."

And while Bernanke wants to rely on regulation as the first line of defence, others in the central bank community think measures such as increasing capital or liquidity requirements or capping mortgage loan-to-valuation ratios provide inadequate protection on their own.

Bank of England deputy governor Charlie Bean admitted during a visit to Australia last year that although central bank action to “lean against" asset price growth was politically difficult and economically costly, the uneven success of regulations in stifling credit booms meant there might be times that policymakers had little choice but to raise interest rates to clamp down on potentially damaging house or share price growth.

Rismark director Christopher Joye, who in 2008 was a vocal critic of central bank action to curb asset prices, says he now accepts they have a role to play in heading off destabilising price bubbles.

But, like Bernanke, he thinks regulation might prove to be better suited to the job than interest rates. “There are likely to be more precise tools that would be more targeted, more effective, and that inflict less collateral damage on other parts of the economy," he says.

But HSBC chief economist Paul Bloxham argues that the experience of 2003 shows the potential of central banks to help head off potentially damaging price and credit bubbles without resorting to increased regulation.

Bloxham, who studied the episode while he was an official at the central bank late last decade, says that the RBA, by using its authority during 2003 to raise concerns about swelling house prices, not only discouraged speculation but assisted regulators such as the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Taxation Office in cracking down on risky lending.

“The fact that the RBA was prepared to say those things meant that these other authorities had more support to do what they did," Bloxham says. “It gave the jawboning that the RBA did some teeth."

Lowe and Kearns argue that the RBA’s agreement with the federal govenrment on the conduct of monetary policy gives it scope to tackle asset prices without needing to change its mandate and it is “not inconsistent" with the Reserve Bank’s inflation-targeting mandate.

But while the case for increased regulation may not be compelling in Austrlaia’s case, the nation has signed up to Basel III rules for stricter capital requirements and liquidity measures.

Bloxham warns of the danger that regulation goes too far as authorities in major developed countries “fight the last war" and tighten access to credit right when it is needed most in many countries.

“At the moment we are still fighting the fire while at the same time trying to firm up the foundations," he says. “Whether those two things can or should be done at once is the question."

The Australian Financial Review


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Co-ordinated approach more likely to work

by Michael Hobbs

The federal government’s proposed concessions to promote hotel and resort development will not attract investors in the long term but a
co-ordinated approach to tourism will, hoteliers say.

The government hopes to boost investment in tourism and hotels by pushing states and local government to offer payroll tax concessions and council rate moratoriums. It ruled out further federal funding for marketing campaigns.

Accor Australia vice-president Simon McGrath agreed the initiatives were a starting point but said greater
co-ordination across government agencies and the industry was needed.

“A disparate industry has stopped it from taking advantage of opportunities," he said.

Jones Lang LaSalle Hotels’ managing director of Australasia, Craig Collins, said the concessions were a step in the right direction but government should focus on attracting more people to hotels and resorts.

“The government should focus on building demand through a
co-ordinated, cutting-edge brand Australia development, and supporting complementary tourism infrastructure rather than trying to second guess the natural hotel development cycle," he said.

Hotel development across some of Australia’s biggest capital cities has stagnated because investors can get a much higher return from office space.

No large hotels have been constructed in Sydney since the 2000 Olympic Games and hotel development in Perth and Adelaide has been subdued. However, Melbourne has added more than 1000 hotel rooms in the past year due to a sustained co-ordinated tourism strategy to attract and retain events such as the Australian Open and the Australian Grand Prix.

Thakral managing director John Hudson said federal and state governments should examine Melbourne’s strategy closely.

“It’s an events-led city. They’ve built a massive convention centre that is firing and seats 5000 people, Sydney’s only sits 1500," he said. “If [the government] builds attractions and infrastructure and supports events, then the market will take care of the hotels," he said.

But more three and four-star hotels needed to be developed to cater for different tourists, he added.

The Australian Financial Review