মঙ্গলবার, ৩০ এপ্রিল, ২০১৩

The Relationship Between Tigers And Their Habitat

Many of those who, following their dream to see a wild Tiger, travel to the Indian subcontinent, are wowed not only by the wildlife but also the landscapes. The two are intricately linked, and certain features of the landscape are key to the animal's activities. Read on to learn more about the relationship between the Bengal Tiger and various features of its environment.

Forests and Trees

The way Tigers interact with forest environments changes; Bengal Tigers are often depicted as fierce, solitary and serious animals, and they can be all of these things, but they are also adventurous and playful especially when young. In early life, the world in which cubs find themselves is full of things to investigate and explore, and doing so on outings with their mother allows them to gain a sense of the environment that will provide their home and hunting grounds throughout their lives. It may be for this reason that, although when fully grown they rarely climb trees, cubs are keen climbers not only is this a skill that can be used to hunt during their early life, it also leaves them with a more complete knowledge of their surroundings. Thus, although for the Tiger, travel along the ground is more common, climbing is a skill they can call on if necessary. In adult life, however, trees play another role for them, as posts that they can mark by scratching or by scent to define the boundaries of their territory.

Water

It is a well-documented fact that these are water-loving cats, with rivers providing little obstacle to a fully-grown Tiger. Travel, for the species, is mostly done on foot, but they will also swim when necessary. Strong swimmers, they are capable of crossing rivers of up to eight kilometres, while in parts of southern India they spend a lot of their time in the waters of their coastal mangrove habitat.

Their love of water serves a practical purpose, as it helps to keep them cool during the heat of the day they will often soak themselves in a river or pool for an hour, and then allow themselves to dry off, which also produces a cooling effect as the water evaporates, before returning to the water to start the cycle again. Unlike the instinct to explore, however, this behaviour must be taught by a mother, and cubs are often reluctant until their mother has enticed them or, in some cases, simply picked them up and dunked them into the water several times. Once they are used to this, she begins teaching them to swim. Once a cub grows into a mature Tiger, travel across Indias varied terrain is an easy task, and they will be able to roam and hunt with ease both on land and in water.

Marissa Ellis-Snow is a freelance nature writer. If youre looking for Tiger travel, Naturetrek specialises in expert-led natural history and wildlife tours worldwide. Naturetrek brings over 25 years of experience to to wildlife tours to some of the most spectacular regions on Earth.

Source: http://www.articlesnatch.com/Article/The-Relationship-Between-Tigers-And-Their-Habitat/4580789

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Analysis: Tax strategy may be key to Verizon Wireless deal

By Kevin Drawbaugh, Nanette Byrnes and Soyoung Kim

(Reuters) - Verizon Communications Inc's chances of buying the 45 percent stake in Verizon Wireless owned by Britain's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting.

Verizon, the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone can avoid a multibillion-dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. The possibility of a huge tax bill has previously been regarded by analysts as a big hurdle to any such deal.

Reuters reported last Wednesday that Verizon was preparing a bid worth about $100 billion to take full control of Verizon Wireless - it already owns the other 55 percent - by buying the stake, according to people familiar with the matter. There are no guarantees that Vodafone will want to sell its stake or that Verizon will pursue the plan.

Vodafone declined to comment on the possibility of a Verizon bid for its stake or on the tax question.

One person familiar with the situation said Vodafone cannot consider the size of any tax payout in a possible transaction until the company has received an offer, which it has not.

A Verizon spokesman declined to comment.

Verizon hopes that if it structures a transaction to eliminate much of the tax bill, it can encourage Vodafone to come to the table for talks. Some analysts and investors say Verizon may have to pay as much as $130 billion to clinch the deal.

The tax bill on a $100 billion deal, based on a simple acquisition of the stake, would be about $38 billion, according to UBS Investment Research. It could be much higher if the deal's price tag rises above that figure, UBS noted.

That tax bill is based on the massive growth Verizon Wireless has experienced since it was established 13 years ago. The 45 percent stake that Verizon Communications wants to buy is owned by Vodafone Americas, a U.S. holding company. Given it is a U.S. entity, if Vodafone Americas were to sell that stake outright it would have to pay the full capital gains tax on the stake.

But the sources said Verizon Communications is contemplating a two-part deal that could avoid this. Instead of buying the stake outright, the sources said, Verizon Communications would buy the Delaware-based Vodafone Americas.

The seller of Vodafone Americas would not be a U.S.-based entity, so no U.S. capital gains tax would be due, said Robert Willens, a tax and accounting expert and author of the Willens Report.

Vodafone's international structure is complicated, involving many holding companies, and the precise ownership of some assets is unclear. Vodafone Americas also owns some of Vodafone's non-U.S. assets, the sources said, probably including some in Germany and Spain. These would be sold back to Vodafone by Verizon Communications, which would keep the Verizon Wireless stake, they said.

The two transactions could be done simultaneously or one after the other.

While the sale of the Verizon Wireless stake would not incur capital gains tax, the sale of the international assets back to Vodafone would. This is because it would involve the sale of assets by Verizon Communications, a U.S. entity.

Compared with Verizon Wireless, the smaller international assets are thought to have gained little in value. Analysts estimated their sale could hit Verizon Communications with a U.S. tax bill of about $5 billion or less.

The sources said that Verizon would seek to pass any tax hit on to Vodafone in the two-part transaction.

LONG COURTSHIP

Verizon has long coveted its partner Vodafone's stake in the Verizon Wireless joint venture, which started operations in 2000.

The last time the two came close to a deal was in 2004, when Vodafone bid for AT&T Wireless. The British company, the world's second-largest mobile operator, however, lost that bid to Cingular and has since held on to the Verizon Wireless stake for its exposure to the U.S. wireless market.

Wall Street analysts had previously seen it as unlikely that Verizon would want to do a deal involving Vodafone Americas' international assets. But those assets have underperformed in recent years when compared with the growth of Verizon Wireless, and are now a smaller part of the holding company, reducing the potential tax hit.

However, the timing of Verizon's interest in doing the deal has more to do with the gains in its stock price and low interest rates, the sources emphasized.

Verizon is considering paying about half of the purchase price in cash and half in stock, Reuters reported on Wednesday. That means it may look to raise around $50 billion in debt.

BRITISH TAX QUESTION

The kind of deal structure envisaged would still leave Vodafone with another tax question, said British academics and analysts: Should it leave the proceeds from any sale offshore or bring them home to Britain?

Leaving the money offshore might invite scrutiny from the U.S. Internal Revenue Service, which sometimes questions transactions if they seem designed solely to avoid tax and are not based on an underlying economic logic, said Prems Sikka, professor of accounting at the University of Essex in Britain.

If the transaction were shaped the way the sources have described, Vodafone would probably repatriate the proceeds into Britain, said Charles Merriman, managing director at Merriman Capital Transactions, a consultancy in London.

Once that was done, he said, the company might be able to reduce its tax bill by taking advantage of Britain's substantial shareholdings exemption. Under certain conditions, this exempts from UK corporation taxation any gains realized when one company disposes of shares in another company.

British tax authorities declined to comment, citing rules on taxpayer confidentiality.

More broadly, though, Vodafone could face a political backlash in Britain from any deal that was clearly structured to avoid taxation, said Robin Bienenstock, a senior analyst at Bernstein Research.

U.S. companies such as Starbucks Corp, Amazon.com Inc and Google Inc have come under fire from British lawmakers for using legal maneuvers to cut their tax bills in Britain.

"The problem with tax is not just the technical ability to avoid it, but the scorched earth that trying to avoid it could leave with the UK government afterwards," said Bienenstock. "Recent tax cases in the UK ... suggest that an attempt to avoid tax on such a large and high-profile deal would be very badly received."

(Reporting by Kevin Drawbaugh in Washington, Nanette Byrnes in Chapel Hill, N.C., and Soyoung Kim in New York; additional reporting by Kate Holton and Tom Bergin in London; editing by Martin Howell and Matthew Lewis)

Source: http://news.yahoo.com/analysis-tax-strategy-may-key-verizon-wireless-deal-050341644.html

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সোমবার, ৮ এপ্রিল, ২০১৩

Engineering algae to make the 'wonder material' nanocellulose for biofuels and more

Apr. 7, 2013 ? Genes from the family of bacteria that produce vinegar, Kombucha tea and nata de coco have become stars in a project -- which scientists today said has reached an advanced stage -- that would turn algae into solar-powered factories for producing the "wonder material" nanocellulose. Their report on advances in getting those genes to produce fully functional nanocellulose was part of the 245th National Meeting & Exposition of the American Chemical Society (ACS), the world's largest scientific society, being held here this week.

"If we can complete the final steps, we will have accomplished one of the most important potential agricultural transformations ever," said R. Malcolm Brown, Jr., Ph.D. "We will have plants that produce nanocellulose abundantly and inexpensively. It can become the raw material for sustainable production of biofuels and many other products. While producing nanocellulose, the algae will absorb carbon dioxide, the main greenhouse gas linked to global warming."

Brown, who has pioneered research in the field for more than 40 years, spoke at the First International Symposium on Nanocellulose, part of the ACS meeting. Abstracts of the presentations appear below.

Cellulose is the most abundant organic polymer on Earth, a material, like plastics, consisting of molecules linked together into long chains. Cellulose makes up tree trunks and branches, corn stalks and cotton fibers, and it is the main component of paper and cardboard. People eat cellulose in "dietary fiber," the indigestible material in fruits and vegetables. Cows, horses and termites can digest the cellulose in grass, hay and wood.

Most cellulose consists of wood fibers and cell wall remains. Very few living organisms can actually synthesize and secrete cellulose in its native nanostructure form of microfibrils. At this level, nanometer-scale fibrils are very hydrophilic and look like jelly. A nanometer is one-millionth the thickness of a U.S. dime. Nevertheless, cellulose shares the unique properties of other nanometer-sized materials -- properties much different from large quantities of the same material. Nanocellulose-based materials can be stronger than steel and stiffer than Kevlar. Great strength, light weight and other advantages has fostered interest in using it in everything from lightweight armor and ballistic glass to wound dressings and scaffolds for growing replacement organs for transplantation.

In the 1800s, French scientist Louis Pasteur first discovered that vinegar-making bacteria make "a sort of moist skin, swollen, gelatinous and slippery" -- a "skin" now known as bacterial nanocellulose. Nanocellulose made by bacteria has advantages, including ease of production and high purity that fostered the kind of scientific excitement reflected in the first international symposium on the topic, Brown pointed out.

Brown recalled that in 2001, a discovery by David Nobles, Ph.D., a member of the research team at the University of Texas at Austin, refocused their research on nanocellulose, but with a different microbe. Nobles established that several kinds of blue-green algae, which are mainly photosynthetic bacteria much like the vinegar-making bacteria in basic structure; however, these blue-green algae, or cyanobacteria, as they are called, can produce nanocellulose. One of the largest problems with cyanobacterial nanocellulose is that it is not made in abundant amounts in nature. If it could be scaled up, Brown describes this as "one of the most important discoveries in plant biology."

Since the 1970s, Brown and colleagues began focusing on Acetobacter xylinum (A. xylinum), a bacterium that secretes nanocellulose directly into the culture medium, and using it as an ideal model for future research. Other members of the Acetobacter family find commercial uses in producing vinegar and other products. In the 1980s and 1990s, Brown's team sequenced the first nanocellulose genes from A. xylinum. They also pinpointed the genes involved in polymerizing nanocellulose (linking its molecules together into long chains) and in crystallizing (giving nanocellulose the final touches needed for it to remain stable and functional).

But Brown also recognized drawbacks in using A. xylinum or other bacteria engineered with those genes to make commercial amounts of nanocellulose. Bacteria, for instance, would need a high-purity broth of food and other nutrients to grow in the huge industrial fermentation tanks that make everything from vinegar and yogurt to insulin and other medicines.

Those drawbacks shifted their focus on engineering the A. xylinum nanocellulose genes into Nobles' blue-green algae. Brown explained that algae have multiple advantages for producing nanocellulose. Cyanobacteria, for instance, make their own nutrients from sunlight and water, and remove carbon dioxide from the atmosphere while doing so. Cyanobacteria also have the potential to release nanocellulose into their surroundings, much like A. xylinum, making it easier to harvest.

In his report at the ACS meeting, Brown described how his team already has genetically engineered the cyanobacteria to produce one form of nanocellulose, the long-chain, or polymer, form of the material. And they are moving ahead with the next step, engineering the cyanobacteria to synthesize a more complete form of nanocellulose, one that is a polymer with a crystalline architecture. He also said that operations are being scaled up, with research moving from laboratory-sized tests to larger outdoor facilities.

Brown expressly pointed out that one of the major barriers to commercializing nanocellulose fuels involves national policy and politics, rather than science. Biofuels, he said, will face a difficult time for decades into the future in competing with the less-expensive natural gas now available with hydraulic fracturing, or "fracking." In the long run, the United States will need sustainable biofuels, he said, citing the importance of national energy policies that foster parallel development and commercialization of biofuels.

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The above story is reprinted from materials provided by American Chemical Society (ACS), via Newswise.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_science/~3/NDXna8iki1s/130407132938.htm

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রবিবার, ৭ এপ্রিল, ২০১৩

iPhone 4 and 4s Holder

Sorry, Readability was unable to parse this page for content.

Source: http://www.thingiverse.com/thing%3A70672

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China reports 2 more cases of new bird flu virus

BEIJING (AP) ? Shanghai has reported two more cases of human infection of a new strain of bird flu, raising the number of cases in eastern China to 18. Six of the people who contracted the virus have died.

Health officials believe people are contracting the H7N9 virus through direct contact with infected fowl and say there's no evidence the virus is spreading easily between people.

Shanghai's government said Saturday the latest victims are a 74-year-old peasant and a 66-year-old retiree. The city has been ordered by the agriculture ministry to halt its live poultry trade and slaughter all fowl in markets where the virus has been found.

The capital cities of the neighboring provinces of Zhejiang and Jiangsu also have suspended sales of live poultry. Both provinces have reported H7N9 cases.

Source: http://news.yahoo.com/china-reports-2-more-cases-bird-flu-virus-123620810.html

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শুক্রবার, ৫ এপ্রিল, ২০১৩

Award-winning author Ruth Prawer Jhabvala dies at age 85

(Reuters) - Award-winning novelist and screenwriter Ruth Prawer Jhabvala, author of "Heat and Dust" and many other books set in India, died on Wednesday at the age of 85, her Los Angeles agent said.

Jhabvala died at her home in New York City, a spokesman for Hollywood agency Paradigm told Reuters. The spokesman did not give the cause of her death but said she had been sick for some time.

Jhabvala also worked on several movie adaptations with filmmakers James Ivory and Ismail Merchant, winning two Academy Awards for her screenplays for 1985 movie "A Room With a View" and "Howards End" in 1992.

Jhabvala was born in Germany but emigrated with her family to Britain during the Nazi regime. She later married an Indian architect and moved to India, where she began to write about her life there.

Her novel "Heat and Dust," a romance about a young woman living in India in the 1920s, won Britain's coveted Booker Prize in 1975, and was adapted for the big screen in 1983.

Jhabvala collaborated with Merchant and Ivory on more than 20 movies including "The Remains of the Day" and "Mr. And Mrs. Bridge."

(Reporting By Jill Serjeant and Eric Kelsey; Editing by Vicki Allen)

Source: http://news.yahoo.com/award-winning-author-ruth-prawer-jhabvala-dies-age-080742556.html

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বৃহস্পতিবার, ৪ এপ্রিল, ২০১৩

Breakthrough in hydrogen fuel production could revolutionize alternative energy market

Apr. 3, 2013 ? A team of Virginia Tech researchers has discovered a way to extract large quantities of hydrogen from any plant, a breakthrough that has the potential to bring a low-cost, environmentally friendly fuel source to the world.

"Our new process could help end our dependence on fossil fuels," said Y.H. Percival Zhang, an associate professor of biological systems engineering in the College of Agriculture and Life Sciences and the College of Engineering. "Hydrogen is one of the most important biofuels of the future."

Zhang and his team have succeeded in using xylose, the most abundant simple plant sugar, to produce a large quantity of hydrogen that previously was attainable only in theory. Zhang's method can be performed using any source of biomass.

The discovery is a featured editor's choice in an online version of the chemistry journal Angewandte Chemie, International Edition.

This new environmentally friendly method of producing hydrogen utilizes renewable natural resources, releases almost no zero greenhouse gasses, and does not require costly or heavy metals. Previous methods to produce hydrogen are expensive and create greenhouse gases.

The U.S. Department of Energy says that hydrogen fuel has the potential to dramatically reduce reliance of fossil fuels and automobile manufactures are aggressively trying to develop vehicles that run on hydrogen fuel cells. Unlike gas-powered engines that spew out pollutants, the only byproduct of hydrogen fuel is water. Zhang's discovery opens the door to an inexpensive, renewable source of hydrogen.

Jonathan R. Mielenz, group leader of the bioscience and technology biosciences division at the Oak Ridge National Laboratory, who is familiar with Zhang's work but not affiliated with this project, said this discovery has the potential to have a major impact on alternative energy production.

"The key to this exciting development is that Zhang is using the second most prevalent sugar in plants to produce this hydrogen," he said. "This amounts to a significant additional benefit to hydrogen production and it reduces the overall cost of producing hydrogen from biomass."

Mielenz said Zhang's process could find its way to the marketplace as quickly as three years if the technology is available. Zhang said when it does become commercially available, it has the possibility of making an enormous impact.

"The potential for profit and environmental benefits are why so many automobile, oil, and energy companies are working on hydrogen fuel cell vehicles as the transportation of the future," Zhang said. "Many people believe we will enter the hydrogen economy soon, with a market capacity of at least $1 trillion in the United States alone."

Obstacles to commercial production of hydrogen gas from biomass previously included the high cost of the processes used and the relatively low quantity of the end product.

But Zhang thinks he has found the answers to those problems.

For seven years, Zhang's team has been focused on finding non-traditional ways to produce high-yield hydrogen at low cost, specifically researching enzyme combinations, discovering novel enzymes, and engineering enzymes with desirable properties.

The team liberates the high-purity hydrogen under mild reaction conditions at 122 degree Fahrenheit and normal atmospheric pressure. The biocatalysts used to release the hydrogen are a group of enzymes artificially isolated from different microorganisms that thrive at extreme temperatures, some of which could grow at around the boiling point of water.

The researchers chose to use xylose, which comprises as much as 30 percent of plant cell walls. Despite its abundance, the use of xylose for releasing hydrogen has been limited. The natural or engineered microorganisms that most scientists use in their experiments cannot produce hydrogen in high yield because these microorganisms grow and reproduce instead of splitting water molecules to yield pure hydrogen.

To liberate the hydrogen, Virginia Tech scientists separated a number of enzymes from their native microorganisms to create a customized enzyme cocktail that does not occur in nature. The enzymes, when combined with xylose and a polyphosphate, liberate the unprecedentedly high volume of hydrogen from xylose, resulting in the production of about three times as much hydrogen as other hydrogen-producing microorganisms.

The energy stored in xylose splits water molecules, yielding high-purity hydrogen that can be directly utilized by proton-exchange membrane fuel cells. Even more appealing, this reaction occurs at low temperatures, generating hydrogen energy that is greater than the chemical energy stored in xylose and the polyphosphate. This results in an energy efficiency of more than 100 percent -- a net energy gain. That means that low-temperature waste heat can be used to produce high-quality chemical energy hydrogen for the first time. Other processes that convert sugar into biofuels such as ethanol and butanol always have energy efficiencies of less than 100 percent, resulting in an energy penalty.

In his previous research, Zhang used enzymes to produce hydrogen from starch, but the reaction required a food source that made the process too costly for mass production.

The commercial market for hydrogen gas is now around $100 billion for hydrogen produced from natural gas, which is expensive to manufacture and generates a large amount of the greenhouse gas carbon dioxide. Industry most often uses hydrogen to manufacture ammonia for fertilizers and to refine petrochemicals, but an inexpensive, plentiful green hydrogen source can rapidly change that market.

"It really doesn't make sense to use non-renewable natural resources to produce hydrogen," Zhang said. "We think this discovery is a game-changer in the world of alternative energy."

Support for the current research comes from the Department of Biological Systems Engineering at Virginia Tech. Additional resources were contributed by the Shell GameChanger Program, the Virginia Tech College of Agriculture and Life Sciences' Biodesign and Bioprocessing Research Center, and the U.S. Department of Energy BioEnergy Science Center, along with the Division of Chemical Sciences, Geosciences and Biosciences, Office of Basic Energy Sciences of the Department of Energy. The lead author of the article, Julia S. Martin Del Campo, who works in Zhang's lab, received her Ph.D. grant from the Mexican Council of Science and Technology.

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Journal Reference:

  1. Julia S. Mart?n del Campo, Joseph Rollin, Suwan Myung, You Chun, Sanjeev Chandrayan, Rodrigo Pati?o, Michael WW Adams, Y.-H. Percival Zhang. High-Yield Production of Dihydrogen from Xylose by Using a Synthetic Enzyme Cascade in a Cell-Free System. Angewandte Chemie International Edition, 2013; DOI: 10.1002/anie.201300766

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/matter_energy/biochemistry/~3/FcqkmYfwq6o/130403104104.htm

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How To Find Out The Finest Jamaica Vacation Rental Homes


There are various Jamaica vacation rental homes; however, in order to find the best ones, you have to be wary of various different points. Checking these points will help you in finding the rental homes that would be the best for you.

There are a lot of places that are worth vacationing. However, if you are planning a vacation, you must make your arrangements and plan your outing. It is efficient planning that helps in having an enjoyable time.

There are a lot of Jamaica vacation rental homes where you can stay and have one of the best times. However, when you are looking for one, you need to watch out for a lot of different factors that include the following.

Location: the location of the vacation rental is an important aspect. You must weigh your own preferences in the equation. If you are looking for such a place to stay such that you can enjoy the tranquillity of nature, you should opt for vacation homes that are located in the outskirt and are far away from the rush of the city. However, if you are looking to enjoy the din and uproar, you need to find vacation homes that are situated in the heart of the city and can give you ready access to the best places to hang out.

Cost: there is no doubt about the fact that each one of us is sensitive to the net cost that would be incurred. Generally, vacation rentals turn out to be cheaper when compared to hotels; however, it is a subjective opinion and depends upon the type of facility and privileges that you are getting at the vacation homes. So, check out the price and other expenses and if it falls in your budget, you can make your bookings.

Facilities and privileges: most Jamaica vacation rental homes provide you a lot of different facilities. So, you should study the whole package in details and after you have examined the details and you are contented with the facilities that you would be getting, you can then make the final decision of opting to stay at the place.

Hence, these are some of the main points that you need to keep in mind. After going through these points, you would have a better idea of which vacation rentals seems to give you the best benefits. There is no dearth of vacation rentals in Jamaica as most people tend to put their fully furnished homes as places for stating for tourists. It helps people in earning the extra money that can definitely come in handy in ways more than one. Further, the locals are friendly enough to help out the guests and even guide them about the top sight seeing points and therefore help them have a good time.

So, explore the different options thoroughly and choose the finest homes so that you can have the best vacation which you will forever remember. To know more about villas Jamaica or Jamaica vacations just log on to http://www.personalchoicejamaica.com/

Personal Choice Jamaica is one of the finest companies when it comes to finding the best villas Jamaica and Jamaica vacation rental. They have a huge database and they specialize in helping their clients spot the perfect place where they can enjoy to the fullest.

Source: http://www.articlesnatch.com/Article/How-To-Find-Out-The-Finest-Jamaica-Vacation-Rental-Homes/4519411

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Nicki Minaj Wants A 'More Relatable Look': Hot Pink Begone!

'I want women to know that I'm just a regular woman and I'm not some weirded-out character all the time,' MC tells MTV News.
By Nadeska Alexis, with reporting by Christina Garibaldi


Nicki Minaj
Photo: MTV News

Source: http://www.mtv.com/news/articles/1704966/nicki-minaj-new-hair.jhtml

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Exclusive: TPG, Madison Dearborn final bidders for NFP - sources

By Jessica Toonkel and Greg Roumeliotis

NEW YORK (Reuters) - Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners , a New York-based wealth management company with a market value of nearly $900 million, people familiar with the matter said.

NFP - run by Jessica Bibliowicz, the daughter of former Citigroup chief Sandy Weill - could be valued at around $1 billion in a deal, the people said on Wednesday, asking not to be named because details of the auction are confidential.

NFP said on March 13 that the company has decided to explore a sale following indications of interest from private equity firms, confirming a Reuters report the previous day.

Representatives for NFP, TPG and Madison Dearborn declined to comment.

National Financial, like many independent brokerage firms, experienced difficulties during the market downturn of 2008 and at one point that year saw its stock hit a low of $1.21 per share.

Its stock closed Wednesday at $22.25 per share.

In February, National Financial reported fourth-quarter net income of $19.4 million, or 45 cents per share, up from $11.2 million, or 27 cents per share, in the year ago quarter.

Total revenue for the fourth quarter grew 3.8 percent to $300.1 million from $289.2 million in the prior year's quarter, beating analysts' estimates.

A sale of National Financial would come almost a year after Bibliowicz stepped down as president of the company in April 2012. The company announced at that time that she would also be stepping down as chief executive at the end of March 2013, at which point she would become non-executive chair. The firm later amended that timeline and she is now scheduled to relinquish the job of CEO in May.

(Reporting by Jessica Toonkel and Greg Roumeliotis in New York, Editing by Soyoung Kim and Steve Orlofsky)

Source: http://news.yahoo.com/exclusive-tpg-madison-dearborn-final-bidders-nfp-sources-202326204--sector.html

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বুধবার, ৩ এপ্রিল, ২০১৩

Spoof ?Startup' Vooza Gets Serious About What It's Really Up To - A New Kind Of Web Advertising

voozaYesterday we saw a lot of attempts at humor from tech companies, with varying degrees of success. To help shake off that April Fool's Day hangover, Vooza, the satirical "startup" that has been putting out spot-on parodies of modern tech company culture since this past summer with fake (but scarily real sounding) buzzwords like "Radimparency", is coming clean about what it's really up to -- creating a fresh kind of web-based advertisements for startups.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/sSpC59a1POE/

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