1. Introduction

Lenders in secured bank financings frequently require or allow borrowers and their subsidiaries to hedge against interest rate, commodity and/or currency fluctuations by entering into swap agreements or other derivative products (“swaps”) with financial institution counterparties. To facilitate borrowers and their subsidiaries entering into such swaps, secured loan agreements often allow financial institution counterparties providing the swaps to share in the collateral provided by the borrower and its subsidiaries to lenders under the loan documentation, and also to benefit from guarantees given for the bank financing.

Section 723(a)(2) of Dodd-Frank1 amended Section 2(e) of the Commodity Exchange Act (the “CEA”)2 to provide that “it shall be unlawful for any person other than an “eligible contract participant” to enter into a swap unless the swap is entered into on, or subject to the rules of, a board of trade designated as a contract market under section 5 of the CEA.3 The CFTC has previously determined to treat a guaranty of a swap as the equivalent of entering into such swap. In a no-action letter dated October 12, 2012 (the “No-Action Letter”), the Office of the General Counsel of the U.S. Commodity Futures Trading Commission (the “CFTC”) clarified whether, under the amended CEA, guarantors of swaps must meet the same requirements as direct swap participants.4

In this Client Alert, we explain how the No-Action Letter interprets the status of guarantors and pledgors under swap arrangements, discuss the potential consequences of that interpretation for secured bank financings and the credit support features thereunder and suggest certain steps that may be taken to address the pronouncements contained in the No-Action Letter.

  1. The No-Action Letter requires swap guarantors and pledgors to be eligible contract participants

Under the CEA, either a swap participant must meet the definition of an “eligible contract participant” (hereinafter, an “ECP”) or the swap must be conducted on, and pursuant to the rules of, a designated contract market (a “DCM”), such as the Chicago Board of Trade.5 A swap conducted on a DCM would also be subject to a host of other protective rules and regulations.

The No-Action Letter explains that “the intent behind the ECP requirement in Section 2(e) of the CEA is to limit the availability of non-DCMlisted swaps to market participants of sufficient financial sophistication and with sufficient assets or net worth to assess, appreciate and bear the implications and risks of swap transactions not subject to the regulatory protections applicable to swaps listed on DCMs.” The No-Action Letter interprets Dodd-Frank to have amended the CEA to subject guarantors or parties pledging assets to secure swaps to the same requirements as direct swap participants. As a result, each such guarantor and pledgor must be an ECP, or it may not provide credit support for such swaps.

Requirements for ECP Status

The definition of an ECP provides several alternatives for meeting its test, but the alternative most likely to be relevant for entities in secured lending transactions is as follows:

(I) that has total assets exceeding $10,000,000;

(III) that:

(aa) has a net worth exceeding $1,000,000; and

Although most large corporate borrowers involved in secured bank financings easily meet the threshold of total assets in excess of $10,000,000, their obligations are often guaranteed by, or secured by assets of, many or all subsidiaries or affiliates of the borrower, regardless of their total assets or net worth. Many guarantors or pledgors may meet the criteria in clause (I) or (III) above, but others may not.

In the case of entities that do not otherwise qualify as an ECP, a solution for a typical bank financing could be for a parent entity that otherwise qualifies as an ECP to provide a “keepwell” or other similar credit support for such entities, pursuant to clause (v)(II) of the definition of an ECP above. An example of a keepwell provision is set forth below. Such a solution would be the simplest approach, in many cases, of addressing the pronouncements of the No-Action Letter while maintaining the typical credit support structure for swaps.

  1. Consequences of not meeting CFTC requirements for non-ECP entities

At a high level, the consequences of non-compliance with the requirements set forth in the No-Action Letter are as follows:

  • illegality and unenforceability of the guaranty or pledge by the non-ECP guarantor or pledgor, as applicable, of the swap obligations; and
  • potential CFTC enforcement action against the offending swap dealer.7

These consequences are in place to penalize the swap counterparties rather than unsophisticated swap participants or swap guarantors. The No-Action Letter does not offer guidance regarding the consequences of non-compliance for certain situations, particularly in the context of secured bank financings. For example, how will the thousands of credit arrangements currently outstanding without regard to the guidance in the No-Action Letter be affected by the No-Action Letter? Will such arrangements need to be amended or otherwise be subject to technical defaults8 under the applicable documents? Also, the No-Action Letter is silent as to whether non-swap related guarantees or asset pledges made by non-ECP entities (i.e., those supporting loans rather than swaps but included in the loan documents) could be affected by the illegality and unenforceability of a swap guarantee or pledge. 9

  1. Steps to consider

The No-Action Letter gives rise to the need to address its pronouncements in the context of many secured bank financings. Many large financings can no longer be structured to grant the swap provider credit support equal to that of the loan obligations without additional steps. The following should be considered:

  • Conduct due diligence to determine whether there are any guarantors, pledgors or grantors in a secured bank financing that would not qualify as ECPs
  • Require each guarantor, pledgor or grantor in a secured bank financing to make a representation that it is an ECP (which representation would be made at any time a swap is entered into).10
  • Contractually exclude non-ECPs as guarantors and pledgors with respect to swaps.
  • Include “keepwell” support from credit parties that qualify as ECPs in the credit documents (as contemplated by sub-section (II) of Section 1a(18)(v) of the CEA) that would require other parties to the bank financing transaction that qualify as ECPs to provide support to non-ECP compliant entities with respect to their credit support for swaps. The following is an example of a keepwell provision that might be used for this purpose:

“Each ECP guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other credit party hereunder to honor all of its obligations under this guaranty agreement in respect of swap obligations (provided, however, that each ECP guarantor that at the time the swap is entered into, has total assets in excess of $10.0 million shall only be liable for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this section, or otherwise under this guaranty agreement, as it relates to such credit party, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each ECP guarantor under this section shall remain in full force and effect until the guaranteed obligations shall have been indefeasibly paid in full and the commitments shall have terminated. Each ECP guarantor intends that this section constitute, and this section shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other credit party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.”

Note that, with respect to outstanding credit arrangements that do not comply with the guidance offered in the No-Action Letter, simply entering into a separate keepwell arrangement between an ECP credit party for the benefit of all non-ECP credit parties may serve to achieve compliance with the No-Action Letter.

  • Include a severability provision in guaranty and security agreements specifying that if entities are not ECPs, such status would not affect their non-swap guaranty obligations, the validity of the security documents themselves, or the obligations of other ECP guarantors under the security documents.
  1. Conclusion

In time, it is possible that the CFTC will give further attention to how the No-Action Letter’s pronouncements affect secured bank financings and may give lenders and other bank finance parties additional guidance. In the meantime, it would be prudent to consider and discuss with legal counsel how to address non-ECP swap obligations and how these may intersect with guarantees and asset pledges documented in secured bank financings, both those currently “on the shelf” and those being entered into going forward.


USD Daily Updates

10 October 2017

The US dollar has now sold off for three days in a row. Last week, we warned that the dollar was looking overbought, and was vulnerable to a pullback. This week, major world currencies including the euro, the pound and the Chinese yuan are strengthening, and the dollar is falling in relative terms. The euro gained yesterday after the ECB's Lautenschlaeger suggested that the time has come to put unconventional tools (i.e. quantitative easing) back in the box. Following China's 'golden week' holidays, the yuan is strengthening against the US dollar. Given the importance of the upcoming 19th Party Congress, the yuan is likely to remain stable for now. There has been limited news headlines from the US given that Monday was a public holiday.

USD/JPY is back below 113, and is currently trading above 112.60 this morning. The euro has been rebounding since last Friday, and is currently trading above 1.1780.

This week’s economic data releases include FOMC minutes on Wednesday, continuing and initial jobless claims on Thursday, and retail sales and Consumer Price Index figures on Friday. Friday’s CPI figures will be watched closely, given rising inflation expectations. While the data will be influenced by the impact from the recent hurricanes, a sustained increase in inflation could suggest that the trend of weakening inflation in rate-of-change terms is coming to an end. As we wrote earlier, this has big implications for inflation-sensitive assets such as crude oil. Last week's non-farm payroll numbers widely missed expectations.


Wat Rong Khun

Better known as Thailand’s White Temple, Wat Rong Khun is well-known and popular among visitors to the Chiang Rai Province. Its unique design is a mixture of both contemporary art and traditional Buddhist motifs with intricate carvings in its all-white structure.

In early May 2014, a massive earthquake damaged much of the temple, and engineers then vowed to rebuild and restore the 1997 structure to its original splendor. As a result of the damage, however, visitors to this historic religious site can only enter a handful of the buildings. Others can only be viewed and photographed from the outside, but the ornate details and meticulously placed tiles still make this a destination despite current repairs. The temple’s ornate designs range from dragons and skulls to dozens of hands reaching up out of the ground.

Walking up to the temple, visitors cross a bridge symbolizing the journey from the cycle of life to the enlightenment of Buddha.  The temple’s white color and inlaid mirrored glass are said to represent the purity of Buddha and are surreal in nature, with every detail carrying deep religious symbolism. The grounds are dotted with various statues and sculptures, and inside are murals depicting modern figures such as superheroes and film stars.

Practical Info

The wat is located about eight miles south of Chiang Rai off Asia Highway 1 on the left-hand side of the road. It is open from 8 a.m to 5 p.m. Monday through Friday and until 5:30 p.m. on Saturday and Sunday. Admission is free.
Adres: Highway 1, Chiang Rai 57000, Thailand
Openingstijden: Monday-Friday 8 a.m.-5 p.m. Saturday-Sunday 8 a.m.-5:30 p.m.
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Energy-saving measures

The Group worked to increase energy efficiency at its operations in 2016 by generating more electricity in-house and reducing the share of energy resources that it purchased. Initiatives to optimise the use of light, heat, fuel, compressed gas and separation products generated significant savings.

Steel segment

EVRAZ ZSMK’s energy efficiency programme continued in 2016, including measures aimed at reducing the amount of electricity used to compress air at the Prokatnaya compressor station, shutting off natural gas supplies to some equipment at oxygen convertor shop 1 during operational downtime, and using less steam in the rail yard.

Natural gas consumption totalled 611.4 million cubic metres in the reporting period, a decrease of 40 million cubic metres year-on-year, due to fuel balance optimisation. Overall electricity usage amounted to 4,132 million kWh, which is 36 million kWh less than in 2015, thanks to the measures mentioned above.

EVRAZ NTMK reduction in energy purchases for 2016 66% yoy

EVRAZ NTMK implemented several projects as part of its energy efficiency programme, leading to a 66% reduction in electricity purchases, of which a 42% reduction came from outsourcing oxygen production, 12% was the result of increasing on-site electricity generation, and another 12% was due to lower consumption.

A total of 446 million kWh was purchased from external producers during the reporting period, which is 461 million kWh less than in 2015 as a result of these measures.

Natural gas consumption totalled 1,178 million cubic metres in 2016, up by 69 million cubic metres year-on-year as a result of increased gas usage by the blast furnaces, which was required to maintain the optimal balance of energy costs.

EVRAZ DMZ (Ukraine)

In 2016, EVRAZ DMZ undertook numerous initiatives to reduce spending on energy purchases and maximise its consumption of associated gases (from blast furnaces and coking facilities).

The power plant’s energy structure was optimised by increasing the usage of associated gases from the blast furnaces and coking facilities. This reduced natural gas consumption to 16.8 million cubic metres. Further measures were undertaken to improve the accounting of energy sources (natural gas, electricity, and drinking water) in order to better monitor resource usage.

Overall, 37.9 million cubic metres of natural gas were used in 2016, which is 6.5 million cubic metres less than in 2015. Electricity consumption totalled 312.3 million kWh, down by 9.4 million kWh year-on-year.

Evraz Yuzhkoks (Ukraine)

Evraz Yuzhkoks’ energy efficiency programme included: shutting down under-utilised power stations, replacing inefficient equipment, and installing frequency convertors on pumps in a number of production units.

These measures reduced electricity consumption by roughly 995 thousand kWh in 2016, to a total of 51.6 million kWh, of which 11.5 million kWh were purchased and 40.1 million kWh were generated on-site.

Total consumption for the year was up by 3 million kWh compared with 2015. The increase was due to the need to use equipment with high energy consumption during major repairs that were conducted in 2016: gas and air blowers, as well as gas pipelines. Without the programme, overall consumption would have been 52.5 million kWh.

Evrazruda (Russia)

Evrazruda’s energy efficiency programme for 2016 included reducing electricity consumption by replacing incandescent light bulbs with LEDs in the underground tunnels of the Tashtagolskaya and Kazkaya mines, as well as changing the bearing material in the ball mills at the Abagursky branch.

Total electricity consumption was 434 million kWh, which was 12 million kWh less than in 2015 as a result of the programme.

Evraz Sukha Balka (Ukraine)

Installing energy saving lighting in the main haulageways as part of the energy efficiency programme reduced electricity consumption by 0.65 million kWh to 139.76 million kWh.

Coal segment

The main efforts of the Coal segment’s ongoing energy efficiency programme in 2016 were aimed at reducing heat energy and electricity consumption:

  • switching to less energy-intensive equipment (shutting down excess capacity)
  • using equipment more efficiently
  • shutting down the enrichment plant’s drying machines during the summer

The result was a 49 million kWh overall reduction in energy consumption to 295 million kWh.

Steel, North America segment

Evraz North America’s operations continued implementing energy-saving measures in 2016.

During the rebuild of the slab reheat furnace in Portland, our technical team upgraded the refractory material to a high-tech product that provides significantly higher insulation coefficients than other technologies. As a result, we expect energy savings of approximately four therms per short ton, or ca. 371 TJ in energy savings annually at full utilisation.

For 2016, electricity and natural gas consumption declined year-on-year in-line with production volumes from 1,623 GWh to 1,059 GWh and from 9,120 TJ to 6,357 TJ, respectively.

Reduction in energy consumption for 2016 14.2% yoy in Coal segment 34.8% yoy in Steel, North America segment


Born in Chicago, Illinois, in 1951, Joseph Nechvatal is a post-conceptual digital artist who creates computer-assisted paintings and computer animations, often using custom-created computer viruses. His work in the early 1980s chiefly consisted of postminimalist gray graphite drawings that were often photomechanically enlarged. He began using computers to make paintings in 1986 and later began to employ computer viruses. These collaborations with viral systems positioned his work as an early contribution to what is increasingly referred to as a post-human aesthetic. In 1999 Nechvatal developed his concept of viractualism that seeks to create an intersection between the biological and the technological, which, according to the artist, creates a new topological space. In 2002 Nechvatal worked in collaboration with the programmer Stephane Sikora to explore artificial life in attempts to merge virtual reality and artificial life. Sikora’s virus invades, destroys, and transforms Nechvatal’s painterly images, and Nechvatal believes this gives the work a “digital clarity” true to our contemporary age. Nechvatal’s work was shown in a solo exhibition entitled When Things Get Rough on Easy Street at The Kitchen in 1982. For more information please visit


Carriacou & Petite Martinique

Carriacou & Petite Martinique Festivals

This lively cultural dance was brought to Carriacou by slaves from the west coast of Africa and is also known as the African Nation Dance. Though colonialism attempted to eradicate drumming, this particular tradition survives, recreating dances from different African nations as the Kromantin (famous for their rebellious spirit), the Mandingos originating from Nigeria (dances for healing), the Ibos originating south of Nigeria (dances to make restituation to their god when it was thought he was offended) and of the Arada (for healing & casting out spells). Also performed are some of the old Creole Dances - like the most popular Bele Kawe where two females fight over a cock or king. The drums are used primarily to accompany dancers, who are mostly woman with long over skirts that fly up into a swirling, colorful display with their fancy footwork. Big Drum dances, featured at most celebrations, emanate their own rhythmic magic, binding community members together and with their rich cultural heritage. Witnessing one of these dances, you'll be transported back to another time and place. Developed in France during the 18th century as a court dance for Napoleon, the Quadrille was brought to England, and then introduced to the colonial Caribbean during the early 19th century, providing entertainment on social occasions for planters. Slaves were forbidden to practice their culture, as the planters realized their music and dance were used to communicate, and to plan their release strategies. However, to save on the expenses of bringing musicians from England, slaves were engaged to provide music for planters’ parties. Forbidden to practice their own dances, African musicians and house workers learned the dance of the English planters, taking it into their camps and altering it. Slaves used the Quadrille to mock the planters but more importantly used this newly approved dancing time to secretly formulate uprisings to hasten their freedom. How ironic! Carriacou versions of the Quadrille feature four men and four women, forming a square and are accompanied by tambourine, bass drum, violin and triangle. Dance styles can be either formal, with couples gliding rigidly in turn, or a more free style where all couples dance at the same time with unfettered movements and improvisations. This dance surpasses the Big Drum in rhythm but does not have the variety and the significance of the African Nation Dance. You can view these dances at cultural celebrations. Maroon has many different meanings according to where you are in the Caribbean. It can refer to a group of rebellious slaves in Jamaica’s past history, an interpretation of a dream, or a gathering of people giving thanks for a bountiful harvest or making food offerings (Saraca) for an upcoming planting season. If you attend a maroon in Carriacou you will find a village community pooling its resources to provide generous amount of local foods that are cooked outdoors (smoked food) and beverages being shared freely with all. The Big Drum Dance if often a highlighted with the maroon organizers starting it off with a blessing of sprinkled water & rum on the ground. Our maroons are thought to have originated when people assembled to help each other with large projects such as harvesting, cleaning or digging ponds, moving houses, etc. The Carriacou Maroon Festival takes place in beautiful Belair Park, prior to the rainy season, about the end of April. Attending this festival is a great way to experience the myriad of Carriacou’s cultural flavors as it showcases all of our traditions from local foods to song and dance, all wrapped in our colorful heritage. Big Drum and Quadrille dancing, calypso, reggae and string band music highlighted with a performance by a famous Caribbean Reggae artist or Pop Band, Shakespeare Mas, a variety of skits, crafts displays and much more can be experienced during this 3 day festival. Carnival in the Caribbean derives its origins from colonial times with the mimicking of plantation life. The age old custom of "masking" on the street overstepped social boundaries of color, allowing participation by all. Developed over the entire Caribbean region in one form or another, it was often considered a pagan celebration with the devil mass or "Jab-Jab" portraying slavery in chains and the asking of money to the buy freedom. In Carriacou, Carnival is a pre-Lenten celebration starting the weekend before Ash Wednesday. Sunday night is called Can-boulay meaning "burning wood". In the old days cornstalks were burned as a bonfire to create lighting for night time Kalenda stick-fighting. "Pierrots", a prominent figure in our Carnival, originated from disguised entertainers during French colonialism. Their roles have evolved over the generations to roving bands competing between their villages/plantations in literature reciting, mostly Shakespeare. Today Shakespeare Mas competitors pair off face to face; one recites while the other listens. Missed lines are rewarded with a stroke from a rod, but colorful, heavily padded and masked head dresses offer protection and the flowing paper lined capes add theatrical loud noises when the stick hits its mark. This event is unique to Carriacou and is a must to see on Tuesday morning. Troops start from Mt Royal and make their way down through the villages performing, stopping for rum in between rounds, until the event culminates in Hillsborough for the final showdown. A lively calypso competition, Dimarche Gras, on Sunday night lasts until the wee hours of Monday, Jouvert Morning, where everyone spills out onto the streets to dance and celebrate. Watch out for the Jab-Jab! On Monday, the Parade of the Bands features Mas Players sporting colorful costumes with imaginative themes, accompanied by rhythmic soca music. The last lap is on Tuesday where the Carnival winds down, leaving Hillsborough a veritable ghost town on Wednesday morning. Parang is a song festival, which comes to life shortly before the Christmas holiday. Based on local gossip, songs are dressed in each string band's unique style and competition during this 3-day festival is brisk and raucous. Bands vie for first place, with cleverly composed ditties highlighting the antics of local characters and judging seems to coincide with the greatest peels of laughter from the expectant crowd. In the weeks preceding the competition there is village to village serenading by some of string bands in the evenings, an informal event welcoming everyone, visitors and locals alike to join in Carriacou's special brand of holiday spirit. The Carriacou Regatta celebrates its 41th anniversary in 2005 reflecting the importance and devotion of our people to seamanship and boat building. Participants from Grenada, Tobago, St.Vincent & The Grenadines, Martinique and Antigua display their racing skills in a keen competition, vying for trophies in classes ranging from large work boats to small sloops. Started in 1965 as a mere local work boat race, the Carriacou Regatta has evolved into a major Caribbean event, now augmented by shore side activities such as donkey-racing, walking the greasy-pole, bicycle-race, drinking competitions, Miss Aquaval pageant and evening-entertainment of all sorts. This fun packed three-day festival usually occurs the first weekend in August and is an event for people to merge from both far and near and have a good time.

We can only give here an overview on festivities and festivals on Carriacou and invite you for a visit to discover more about our unique tradition & culture. Carnival February/March Celebrations involving two days of street parades and various competitions among calypsonians and masquerade bands. Maroon April The Carriacou Maroon Music Festival provides a scintillating 3 day display of Big Drum Nation Dance, String Band Music and Quadrille Dancing at the Belair Park in Carriacou. Regatta July/August Visitors and locals alike admire the skill and captaincy of some of the region's boatmen, as they jostle for supremacy in the different classes of boats, ranging from 14 to 35 feet in length. Other Festival highlights include Miss Aquaval Queen Show, Miss Wet T-Shirt, Donkey Racing, Greasy Pole and numerous cultural and sporting events.


Monday, January 8, 2018

Intrduction to 1st. Peter (Overview)

1 Peter 1:1-2

I.  The Author = Simon bar Jonas (son of John), fisherman, "Peter" by Jesus - John 1:41-42, Matt. 16:15-18
Peter = Cephas (Rock) in Aramaic, Peter in Greek..
Was unofficial, unelected, undesignated leader of the 12, one of the three (inner circle), eye witness to the Resurrection, church leader, Apostle.  But, not a prolific writer!  (only have 1st. and 2nd. Peter).  However, was a mover, shaker, man of action.

II.  The Form = letter  (1) Epistle (letter)  (2) general Epistle - not to a specific individual or a specific church, but to many churches.

III.  The Recipients - 1st. Pet. 1:1-2   in short = Christians in Asia Minor *modern day Turkey)
Peter's description = elect strangers - scattered - chosen (Are we reading somebody else's mail?  Maybe not!)
        (1)  God's Elect - have you ever been called?  invited?  selected?

        (2)  Strangers in the World - Ever feel at odds with society?  uncomfortable in culture?  like you don't fit?

        (3)  Scattered - on one hand = in many places, however, also = NOT GATHERED with your people.  ie:  workday setting.  Is tougher to live Christian life when scattered than when gathered.
 POINT being:  might be your mail!!!  If so, then you are:

      (4)  Chosen   a.  according to the foreknowledge of God
                           b.  through the work of the Holy Spirit
                           c.  for obedience
                           d.  for obedience to Christ
This letter not just to churches in Asia Minor but to churches in 21st. century as well.

IV.  The Occasion  (reason for the letter)  1st. Pet. 5:12
      (1)  to testify to the truth of the gospel (2 Pet. 1:16) - was eye witness
      (2)  to encourage believers to "stand fast"

Question:  Why is such encouragement needed?? - 1st. Pet. 1:6, 4:12, 5:9 -

Two types of Trials  (Christians face)
#1.  Life Trials:  are fallen people in a fallen world, therefore:
           A.  Stuff happens - physical, mental, emotional, relational, financial, etc.
           B.  to Christians!!!  - 1 Cor. 10:13 - 'what is common to man'

#2.  Faith Trials - (come as a result of your Christian faith)
            A.  Trials of persecution - if you live in a society that is:
                          1)  ignorant of the Christian faith
                          2)  suspicious of the Christian faith
                          3)  critical of the Christian faith
                          4)  hostile to the Christian faith
Companion Verse - 2 Tim. 3:12 - "will"

         B.  Trials of obedience ("chosen for obedience"!!)
examples:  give, forgive, love neighbor, deny self, bear with one another, bear up, be kind, be holy,
add:  "extra mile" obligations

        C.  Trials of disappointment  (expectations not met!)
Example:  growth, transformation, maturity, influence, impact

Trials tend to - wear down --> discouragement --> despair --> drop out!!

Good news!! - we have great resources - 2 Pet. 1:3
Bad news = contained in "jars of clay" - 2 Cor. 4:7
(nobody knows this better than Peter - example:  the denial)

Therefore:  on one hand is an Epistle of trials, suffering (major theme), However, = Epistle of Hope, expectation - 1st. Pet. 1:3,13,21

 V.  The Content = Pastoral (remember "feed my sheep"?)

        (1)  Encouragement  (contrast with discouragement)
        (2)  Exhortation  to call, entreat, beseech, to urge, appeal, inspire, to provoke, stir up, goad on;;;
but with
       (3) Instruction = how to!!  (because we need more than inspiration!)
       (4)  Warnings  Bible + example:  GLOBAL WARNING!!
       (5)  Reminders - 2 Pet. 1:12-15

This = a pastor's heart for his people - his longing, his desire.

So, 1st. Peter not necessarily "somebody else's mail"!   maybe for you!!

And, though the New Testament is mostly for Christians/ believers, also serves a 2nd. purpose:  ie: to convince 'not yet' believers who God wants in His flock!!  THAT may be you!!!

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Vernon Financial Troubles

Vernon Financial Troubles

Vernon city leaders met with concerned citizens to address financial shortfalls brought to light by a recent audit.

The city has a deficit of nearly $605,000.

Vernon legally transferred employee benefit funds to the general fund without approval or knowledge from city commissioners.

The city trust for the employee fund is made up of four members, including the soon to be retired City Manager Mitch Grant.

Vernon now owes it's employee fund roughly $948,000. The city is in the red, accountant Michael Edgin is warning that the city implement a hiring freeze, and not take on any more debt by borrowing money. Edging suggested not only raising taxes as a way to get out of debt, but also to increase revenue for the city which has made less than what it is currently spending.

Vernon is expected to make an amendment to the current Employee Benefit Fund that would call for the commissioners to be briefed and vote in favor of any future financial moves from the fund.

Jack Carney, Newschannel 6


Obama talks income inequality, blames the GOP

What used to be a value even to the Democratic Party has now become a forgotten lesson: it’s impossible to control the economy by decree.

According to President Barack Obama, he is perfectly capable to, as a president, fight income inequality and actually stop it. Leaving things alone, President Obama said during ABC’s Sunday “This Week” program, can “accelerate these trends (growing income inequality).” The President was also quick to note that technology, globalization and the GOP’s opposition to his personal agenda are all responsible for the growing income gap between the wealthiest and the poorest Americans.

For Obama, the government must intervene in the economy during the recovery in order to promote income equality and ensure the poorest among us have an easier time climbing the income ladder. The President highlighted his goals, which include increase funding for research, education and infrastructure. He also reported to be interested in reforming the tax code in order to keep companies from leaving the country.

While the Democrats continue to push for more federal spending in order to artificially stimulate the economy and boost particular industries, some conservatives and libertarian-leaning Republicans continue to stress the importance of removing barriers to private profit-making in order to promote prosperity, which also means downsizing the scope of the government. While incorrectly assessing the source of the country’s economical problems, President Obama claimed that “no serious economist out there… would suggest that, if you took the Republican agenda of slashing education further, slashing Medicare further, slashing research and development further, slashing investments in infrastructure further, that that would reverse some of these trends of inequality.”

Unfortunately, Obama benefits from the public’s unfamiliarity with economics by justifying the increase in the participation of the government as a way to address the wealth gap problem. What the public might be failing to recognize is the true unaddressed issue behind the income inequality trend Obama likes to talk about: income mobility, which can be described as the degree to which the poorest among us can earn their way out of poverty.

When the rich become richer, they are able to buy political influence, but that’s only true because politicians are in the business of steering the economy.

The real problem is not the income gap, but how politics make it possible for the wealthiest to stay on top and earn more and how everyone could be better off if the President and other politicians left the economy alone.


Smoking and Pets

Cats and secondhand smoke

Cats are more susceptible to second-hand smoke than dogs. It is most likely from the fact that dogs are often outside and wash them more often. Apart from the fact that cats inhale the air filled with carcinogens, they also lick themselves, kisiwa deposited on wool harmful substances and particles of smoke. As a result, in cats living in a family of smokers, most often new tumors in the mouth, called squamous cell carcinoma. Squamous cell carcinoma is a particularly fast-paced, deadly type of cancer. More than 90% of cats with this diagnosis die within a year.

Another consequence of passive Smoking for cats — cancer of the lymph nodes. 75% of cats with this diagnosis die within a year. The probability of disease of cats living in a family of smokers, on average, 2.5 times higher than in cats from non-Smoking families. Moreover, the probability of risk is higher the longer the owner smokes. So, the risk of disease increases 3 times in cats living in Smoking family for over 5 years and in cases where the owners smoke more packs of cigarettes per day. The risk of disease increases 4 times in cats, if the family smoke two or more people.

Constant exposure to tobacco smoke can also cause lung disease and irritation of the eyes, to cause heavy breathing, coughing and hyperventilation. As a result of passive Smoking cats can become lethargic and depressed.

Dogs and passive Smoking

Dogs also suffer from the harmful effects of passive Smoking. The representatives of breeds with long noses, such as collies, 2.5 times more likely to develop cancer of the nasal cavities than in the same dogs from non-Smoking families. This comes from the fact that these dogs have a large surface that can adhere to the carcinogens from tobacco smoke. Dogs with cancer of the nasal cavities do not survive the year.

Dogs with short noses such as pugs and bulldogs are unable to filter carcinogens out of inhaled air. Therefore, they are under the influence of carcinogens from smoke just as smokers themselves. From this they increase the risk of developing lung cancer. According to the study, dogs subjected to passive Smoking in a 1.6 fold increase in the risk of lung cancer than dogs from non-Smoking families.

Dogs are constantly exposed to tobacco smoke are more prone to lung diseases and eye irritation. Passive Smoking is a cause of heavy breathing, coughing and hyperventilation. It can lead to lethargy and depression. Just like cats, dogs lick their fur, resulting in their organism carcinogens.

Accidental ingestion of items containing nicotine

Another danger is the accidental ingestion of products containing nicotine — cigarettes, cigars, or chewing tobacco, nicotine gum, patches, etc. At risk are puppies and dogs that love to chew toys. This toy by accident may be, for example, found on the street or cigarettes lying around the house half-empty box of chewing tobacco. Cosham also might want to play with the butt — lash out at him as prey, or to chew.

The bitter taste of tobacco quickly repels the animal from a found object. However, a small amount of nicotine can cause serious and even fatal poisoning. For dogs toxic dose of nicotine is 20 to 100 mg depending on the brand, one cigarette contains 15-30 mg of nicotine. This means that your animal may show signs of poisoning after eating just one cigarette! The nicotine patch contains 114 mg of nicotine. In the stub remains more than 25% of the nicotine that is 4-8 mg of nicotine. So your dog can poison only eaten 3 of the butt.

Exotic Pets and passive Smoking

Exotic animals such as birds, rabbits and rats have very sensitive respiratory systems and are particularly susceptible to the effects of any contaminants. It is therefore not surprising that they suffer from the harmful effects of passive Smoking just like cats and dogs. The exotic animals kept in a family of smokers, increases the risk of lung cancer and pneumonia.

How to protect Pets from secondhand smoke?

The best remedy for the protection of animals from passive Smoking is to quit Smoking. If you already thought to quit, perhaps now is a good time to do it — for your health and for the health of your Pets.

If you’re not ready to say goodbye to Smoking, it is recommended to stop Smoking at home. Ask also your friends. Smoking permanently contaminate your home and car. Therefore, it is best never to smoke in places where non-smokers visit your relatives, as well as animals. Alternatively, you can provide a separate room for Smoking, protecting your Pets from the risk of passive Smoking.

Regular cleaning and cleaning to eliminate the remaining smoke and toxins, which are deposited on the fur of your pet, especially cats.

Unfortunately, many toxic by-products of Smoking are gases. To remove them from the room ventilation, it takes several hours. Good ventilation and installing air filters help to speed up the process. Choose HEPA filters (prefilter for the detention of large particles). Avoid ionizers, because they produce ozone can cause irritation of the respiratory tract as in humans and in animals.

Remember that used products of Smoking, including ash, chewing nicotine gum and used nicotine patches still contain residual nicotine. So keep them outside the availability zone of the animals. This will reduce the likelihood that the animal will accidentally eat them.

When you bring your pet for a walk, make sure that it is not accidentally picked up from the road strange things, like cigarette butts. Discarded chewing tobacco can attract dogs, as they often add flavorings and sugar that hide the natural bitter taste.

Talk to your vet. He may be able to recommend supplements that contain antioxidants that reduce the risk of carcinogenic effects. Smoking owners also should be aware that regular checkups at the vet is best done not once a year, as is often recommended, but every 4-6 months. Regular teeth cleaning at the vet will help to diagnose cancer of the oral cavity of cats.

If you want to quit Smoking immediately and now, Mr President, shahijanian will help you (how to quit Smoking in a short sitting ).

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GENIE tunes

This section contains a summary description of GENIE tunes and comprehensive model configurations and provides links to tuning outputs (best-fit parameters, covariances) as well as detailed quantitative characterizations of tunes against an extensive collection of data.

Naming convention for model configurations and tunes
Starting from v3.0.0, with the deployment of multiple comprehensive configurations and tunes, and the addition of a `--tune' argument in several apps, GENIE adopted the following uniform naming convention for its model configurations and tunes:

A comprehensive model configuration is identified by a 7-character string in the form

  1. G is a capital letter that identifies the author of the tune. The default value is G (for the GENIE collaboration).
  2. dd is a number describing the year during which the model configuration was developed.
  3. MM is a number (00, 01, 02, ...) identifying a model configuration branch.
  4. v is a character (a, b, c, ...) enumerating variations / offshoots of a model configuration branch.
Once a comprehensive model configuration is defined, a number of different tunes may be produced. Each distinct choice of a) fit datasets and dataset weighting scheme, b) parameters of interest and nuisance parameters, and c) prior constraints, leads to a different tune. A tune is identified by the model configuration name, and additional information enumerating the parameters and datasets. This is a 14-character string in the form

  1. Gdd_MMv describes the model configuration (see above).
  2. PP is a number identifying the set of tuned parameters. This parameter set is defined uniquely only in the context of a particular model configuration. The number 00 indicates that a model configuration has not been tuned by GENIE.
  3. xxx is a number that identifies the dataset used for the model configuration tuning. This may include a unique set weights associated with each component dataset. The number 00 indicates that a model configuration has not been tuned by GENIE.

GENIE comprehensive model configurations
Configuration Brief description
G00_00a Historical Genie default configuration.
G00_00b Historical Genie default configuration, including empirical 2p/2h.
G16_01a Update of the historical default, including new interaction processes.
G16_01b As G16_01a, with the inclusion of empirical 2p/2h.
G16_01c As G16_01b, with updated hA Intranuke.
G16_01n As G16_01b, with latest full intranuclear cascade
G16_01s As G16_01a, with Spectral Function and TEM.
G16_02a Comprehensive configuration anchored to the latest theory developments.

GENIE tunes


Posts tagged “clouds

Photos are “made”

Article Excerpt:
The best photo images are not taken anyway, they are “made,” and I have always thought that learning photo composition is not that much more different than learning anything else. Some people just catch on faster than others, but eventually with practice most people can do it. How long that will take mostly depends on how you go about it. The only real way to practice composing an image is by recording them on film, or digitally, so that you can see what you did right, and what you did wrong? It is actually all of your mistakes that teach you how to do it right the next time. However, just slapping a lens on your camera and shooting away is not the answer either. As the saying goes, “There has to be a method to the madness.”~by Paul W. Faust from his article The Art of Seeing: An Exercise in Photo Composition

A new chapter in this life journey

Starting tomorrow August 19, 2013, I become part of a U.S.-based advertising agency. The company president invited me to join her team of creative professionals to do work on a full-time basis. The job includes writing online content and designing blogs and websites – things that are right down my alley. I’ll be a remote staff, doing work from home. This post is not about saying goodbye to blogging. Previously I was doing online freelance work so I had more time in my hands, enabling me to do multiple posts a day early on when I started this blog October last year. By tomorrow I may not be able to follow my habit (yes it has become a habit) of daily posting. This blog will continue but not on its frenetic pace, it will slow down a bit. I still have many pictures to share together with experiences, stories and learnings. I thank all of you my blogging peers for making this online activity for the past 10 months very worthwhile, enjoyable and meaningful. But, probably like every one of you, blogging is just one chapter of my life. There are others, and for me a new one starts tomorrow which requires my undivided time and skill. I will have to focus on that. For the meantime this is JJ saying “Take care my friends and keep on clicking!”

Weekend Inspiration 40

Wishing all of you a splendid weekend! Thank you for the visits, likes, follows and comments during our Islands Week. Keep on clicking my friends!

Composition and individual expression

Article Excerpt:
The decisions that the photographer must make are decisions that are made on the basis of feelings and emotions. Decisions that are aimed at expressing our emotional response to a scene, our perception of the subject we desire to photograph, and our personal artistic approach. All of these represent individual choices, choices that we are usually unaware of until we find ourselves in the act of capturing a specific subject with a lens and a camera. As such, this process prevents camera designers and software engineers to program either the hardware or the software to automatically express our response to the subject. They cannot program it any more than we can program it because both of us ignore what this response will be.

So what am I getting at in this explanation? I am getting at the fact that no matter how advanced and automaticized the equipment and the software we use becomes, there cannot be a substitute for individual input and expression.

What I am also getting at is the fact that the field of endeavor where this individual input is best expressed is the field of composition. Why? First, because composition is about personal choices: very few, if any, aspects of composition can be automaticized. Second, because composition is a field of endeavor composed of multiple facets and not just a set of rules. If it was just a set of rules it would be possible, theoretically, to think that these rules may be embedded in camera or computer software and that such software may have the ability to “compose” photographs on the basis of these rules, or the ability to give us directions aimed at helping us compose images in a specific way.

~Alain Briot from his article Introduction to Composition

Weekend Inspiration 39

Wishing everyone an enjoyable weekend!

Sunset silhouettes

We all know that sunsets are the best time to create silhouette shots. So how do we go about this? Keep an eye out for distinct shapes, forms and outlines, or you can use silhouettes to frame an image. If you can’t nail it in manual, use the “sunset” mode (one of your camera’s preset shooting modes) that way your camera does all the analyzing to get the right white balance, exposure and other optimal settings for sunset situations.

Panoramic sunsets

Sunsets are panoramic-friendly. How best to capture that sweeping vista of colorful sky and horizon than through a panoramic shot. Here are sunset images at 16:9 aspect ratio.