Spring 2010 PRAXIS

Page 1

3UD[LV Spring 2010

&KXUFKHV 0DNLQJ D 'LIIHUHQFH 7RJHWKHU

%RRN 6SRWOLJKW $ TXLFN ORRN DW WKH IURQW SDJH RI WKH QHZVSDSHU RU DQ ,QWHUQHW QHZV VLWH ZLOO SURYH WKDW RXU ZRUOG KDV D PRXQWDLQ RI SUREOHPV ,W LV KDUG QRW WR EHFRPH RYHUZKHOPHG E\ WKH VKHHU PDJQLWXGH RI VRFLHWDO HYLOV

2IIHULQJ *RRG 1HZV LQ %DG 1HZV 7LPHV /RUL * %D\QDUG )LUVW %DSWLVW &KXUFK RI /LQFROQ *DUGHQV ZDV IRXQGHG LQ LQ 6RPHUVHW 1 - ZKHUH LW TXLFNO\ HVWDEOLVKHG LWVHOI DV D FKXUFK WKDW FDUHG IRU DQG VHUYHG WKH FRPPXQLW\ ,WV OHJDF\ RI IHHGLQJ KXQJU\ IDPLOLHV SURYLGLQJ VFKRODUVKLSV WR \RXQJ SHRSOH LQ WKH FRPPXQLW\ DQG WDNLQJ WKH ORYH RI -HVXV &KULVW RXW LQWR WKH QHLJKERULQJ FRPPXQLW\ ZDV ZHOO LQ SODFH ZKHQ 5HY 'H)RUHVW ´%XVWHUµ 6RDULHV FDPH WR WKH FKXUFK LQ DV D SDVWRUDO FDQGLGDWH 6RDULHV· FRQYLFWLRQ WKDW KHOSLQJ WKH FRPPXQLW\ LV D PDMRU UHVSRQVLELOLW\ RI WKH FKXUFK PDGH KLP D JRRG ÀW ´7KH UROH RI WKH &KULVWLDQ FKXUFK LV WR RIIHU JRRG QHZV WR WKRVH ZKR ÀQG WKHPVHOYHV LQ EDG QHZV VLWXDWLRQV µ DIÀUPV 6RDULHV $QG ZKHWKHU WKH EDG QHZV VLWXDWLRQ LV D JRYHUQRU LQ WKH PLGGOH RI D VFDQGDO D UDGLR SHUVRQDOLW\ PDNLQJ UDFLDO VOXUV DERXW WKH ORFDO ZRPHQ·V EDVNHWEDOO WHDP RU D SROLFH FKLHI ZKR QHHGV DVVLVWDQFH ZLWK FRPPXQLW\ UHODWLRQV 5HY 6RDULHV DQG WKH PHPEHUV RI )LUVW %DSWLVW &KXUFK RI /LQFROQ *DUGHQV KDYH EHHQ TXLFN WR VHUYH 8QGHU 6RDULHV· JXLGDQFH RYHU WKH ODVW WZR GHFDGHV WKH FKXUFK KDV SODFHG DEDQGRQHG EDELHV LQ

ORYLQJ KRPHV FRQVWUXFWHG RYHU KRPHV IRU ORZ DQG PRGHUDWH LQFRPH IDPLOLHV DQG FUHDWHG WKH &LVFR 7HFKQRORJ\ $FDGHP\ WKH ÀUVW IDLWK EDVHG DFDGHP\ RI LWV NLQG LQ WKH FRXQWU\ 7KH FKXUFK FUHDWHG DQG UXQV D VWDWH RI WKH DUW KHDOWK FHQWHU DQG D VRFLDO VHUYLFHV FHQWHU DV ZHOO DV D MRE UHDGLQHVV SURJUDP :KHQ D JURZLQJ QXPEHU RI FKXUFK PHPEHUV IRXQG WKHPVHOYHV VDGGOHG ZLWK FUHGLW FDUG GHEW 5HY 6RDULHV LQVWLWXWHG WKH 'IUHH /LIHVW\OH SURJUDP ZKLFK HQFRXUDJHV DQG WHDFKHV PHPEHUV WR PDQDJH WKHLU PRQH\ DQG OLYH IUHH RI GHEW GHÀFLWV DQG GHOLQTXHQFLHV *LYHQ WKLV FRPPLWPHQW WR ÀVFDO UHVSRQVLELOLW\ LW ZDV RQO\ QDWXUDO WKDW ZKHQ WKH IRUHFORVXUH FULVLV KLW WKH VWDWH RI 1HZ -HUVH\ 6RDULHV IHOW FRPSHOOHG WR VWHS XS DQG KHOS %XW ZKDW FRXOG RQH FKXUFK GR" )HGHUDO SROLWLFLDQV ZHUH VFUDPEOLQJ WR WU\ DQG UHFWLI\ WKH JURZLQJ QXPEHU RI IRUHFORVXUHV 1HZ -HUVH\ ZDV KLW SDUWLFXODUO\ KDUG 6R 5HY 6RDULHV DORQJ ZLWK WKH )LUVW %DSWLVW &RPPXQLW\ 'HYHORSPHQW &RUSRUDWLRQ ZKLFK ODWHU EHFDPH NQRZQ DV WKH &HQWUDO -HUVH\ &RPPXQLW\ 'HYHORSPHQW &RUSRUDWLRQ RU &-&'& VHW XS D

FRQWLQXHG RQ SDJH

0DH (OLVH &DQQRQ ZLWK KHU ERRN 6RFLDO -XVWLFH +DQGERRN 6PDOO 6WHSV IRU D %HWWHU :RUOG KRSHV WR WUDQVIRUP WKDW IHHOLQJ RI KRSHOHVVQHVV DQG VHHNV WR HTXLS SHRSOH ZLWK WRROV WR DIIHFW FKDQJH RQH VWHS DW D WLPH %HJLQQLQJ ZLWK D VKRUW VWXG\ RQ WKH %LEOH·V FDOO WR VRFLDO MXVWLFH &DQQRQ FKURQLFOHV ZD\V WKDW &KULVWLDQV KDYH DWWHPSWHG WR UHVSRQG WR WKDW FDOO $IWHU WKH LQLWLDO RYHUYLHZ ZKLFK ZRXOG KDYH DOUHDG\ PDGH IRU D VWURQJ ERRN E\ LWVHOI &DQQRQ SURYLGHV D QHDUO\ FRPSUHKHQVLYH OLVW RI VRFLDO LOOV )URP $,'6 WR JHQRFLGH WR ZDU &DQQRQ JLYHV D EULHI GHVFULSWLRQ RI HDFK SUREOHP WKHQ RIIHUV VWHSV SHRSOH FDQ IROORZ WR WDNH DFWLRQ (DFK RIIHULQJ KHOSV SHRSOH WR VHHN MXVWLFH DQG DIIHFW FKDQJH LQ WKHLU RZQ ZD\ 7KH

FRQWLQXHG RQ SDJH


3DJH

%RRN 6SRWOLJKW ERRN DOVR LQFOXGHV VSLULWXDO SUDFWLFHV DQG UHVRXUFHV WKDW ZLOO KHOS EHOLHYHUV PRYH IURP LPPRELOLW\ WR DGYRFDF\

3UD[LV

:RUG 'HHG 1HWZRUN LQ $FWLRQ &UHDWLQJ &KXUFK %DVHG 1RQ 3UR¿WV DQG 5DLVLQJ )XQGV WR 5XQ 7KHP : R U G ' H H G 1HWZRUN FR V S R Q V R U H G D GD\ ORQJ VHPLQDU RQ WKH ZRUOG RI FKXUFK QRQ SURÀWV DQG IXQG UDLVLQJ RQ $SULO ([FLWHPHQW EX]]HG WKURXJK WKH DLU DV -R\ 6NMHJVWDG RQH KXQGUHG DQG VSHDNHU VL[W\ FKXUFK DQG R U J D Q L ] D W L R Q D O OHDGHUV JDWKHUHG WRJHWKHU DW 3DOPHU 7KHRORJLFDO 6HPLQDU\ LQ :\QQHZRRG 3$

IRU RYHU WZHQW\ \HDUV DQG ZKR KDV ZULWWHQ ERRNV RQ ZULWLQJ VXFFHVVIXO $GGLWLRQDOO\ &DQQRQ LQFOXGHV JUDQWV DQG KRZ WR VWDUW D QRQ SURÀW DSSHQGLFHV WKDW OLVW RUJDQL]DWLRQV LQ \RXU FKXUFK WKH VHPLQDU ZDONHG DOUHDG\ LQYROYHG LQ WKH ÀJKW VHH S SDUWLFLSDQWV WKURXJK WKH SURFHVVHV IRU KHU ZULWH XS RI :RUG 'HHG RI IXQGUDLVLQJ DQG RUJDQL]DWLRQDO 1HWZRUN ERRNV WKDW FDQ VHUYH DV GHYHORSPHQW 7KH XQLTXHQHVV RI WKLV IXUWKHU UHVRXUFHV DQG ÀOPV ZKLFK VHPLQDU ZDV LWV IDLWK EDVHG IRFXV IXUWKHU WKH FRQYHUVDWLRQ DQG UDLVH :KLOH WKHUH DUH PDQ\ KRZ WR VHPLQDUV DZDUHQHVV DERXW VRFLDO SUREOHPV RQ IXQGUDLVLQJ DQG JUDQW ZULWLQJ 0DH (OLVH &DQQRQ·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

:RUG 'HHG 1HWZRUN LV D SURJUDP RI (YDQJHOLFDOV IRU 6RFLDO $FWLRQ

6LGHU 6FKRODUV 9LFD 6KDIIHU DQG 0DUTXLWD %HOO ZLWK 'U $O 7L]RQ

3OHDVH FRQWDFW XV :RUG 'HHG 1HWZRUN (YDQJHOLFDOV IRU 6RFLDO $FWLRQ ( /DQFDVWHU $YH :\QQHZRRG 3$ ZZZ ZRUGGHHGQHWZRUN RUJ ZRUGDQGGHHG#HVD RQOLQH RUJ :RUNVKRS LQ VHVVLRQ


3UD[LV

3DJH

2IIHULQJ *RRG 1HZV LQ %DG 1HZV 7LPHV PHHWLQJ ZLWK FRPPXQLW\ PHPEHUV EDQNHUV PRUWJDJH UHSUHVHQWDWLYHV HOHFWHG RIÀFLDOV DQG PHPEHUV RI WKH FOHUJ\ :KHQ RYHU SHRSOH VKRZHG XS LW ZDV RQO\ WRR FOHDU WKDW WKH\ QHHGHG WR GHYLVH D SODQ WR KHOS WKRVH KRPHRZQHUV PRVW GHVSHUDWHO\ LQ QHHG ,Q DQVZHU WR WKH QHHG WKH +RXVLQJ $VVLVWDQW 5HFRYHU\ 3URJUDP +$53 ZDV LQVWLWXWHG E\ WKH &-&'& ,Q SDUWQHUVKLS ZLWK DUHD EDQNV +$53 KDV FUHDWHG D UHYROXWLRQDU\ DSSURDFK WR DVVLVW VWUXJJOLQJ KRPHRZQHUV RQ WKH EULQN RI IRUHFORVXUH DQG WKH SURJUDP KDV KDG UHPDUNDEOH UHVXOWV +HUH·V KRZ WKH SURJUDP ZRUNV +RPHRZQHUV ZKR DUH IDFLQJ IRUHFORVXUH ÀUVW PHHW ZLWK +8' FHUWLÀHG FRXQVHORUV LQ DQ DWWHPSW WR ZRUN RXW D ORDQ PRGLÀFDWLRQ ZLWK WKH KRPHRZQHU·V OHQGHU ,I ORDQ PRGLÀFDWLRQ LV XQDWWDLQDEOH WKH &-&'& ZLOO SXUFKDVH WKH KRPH IURP WKH OHQGHU DQG HQWHU LQWR D OHDVH SXUFKDVH DJUHHPHQW ZLWK WKH KRPHRZQHU 7KH KRPHRZQHU PXVW FRPPLW WR DWWHQG ÀQDQFLDO FRXQVHOLQJ SURYLGHG WKURXJK WKH

&-&'& ,Q DGGLWLRQ WKH KRPHRZQHU PXVW LGHQWLI\ D PHQWRU ZKR FDQ KHOS WKH IDPLO\ WKURXJK WKH SURFHVV RI UHHVWDEOLVKLQJ WKHPVHOYHV ÀQDQFLDOO\ E\ KROGLQJ WKHP DFFRXQWDEOH WR WKHLU JRDOV WKH PHQWRU KDV QR ÀQDQFLDO REOLJDWLRQ WR WKH IDPLO\ )LQDOO\ ZLWKLQ PRQWKV WKH IDPLO\ LV DEOH WR UHSXUFKDVH WKHLU KRPH DW DQ DPRXQW QRW WR H[FHHG WKHLU RULJLQDO GHEW 7KURXJK WKLV LQLWLDWLYH SHRSOH DUH DEOH WR VWD\ LQ WKHLU KRPHV UHHVWDEOLVK WKHLU FUHGLW DQG UH SXUFKDVH WKHLU KRPHV DW D IDLU SULFH 5HY 6RDULHV FDOOV WKH SODQ ´UHDO KHOS ULJKW QRZ XVLQJ QR WD[SD\HU PRQH\ µ

LQ HLJKW WDUJHWHG FRPPXQLWLHV LQ 1HZ -HUVH\ 7KH &-&'& ZRXOG WKHQ RIIHU WKHVH KRPHV WR ORZ DQG PRGHUDWH LQFRPH IDPLOLHV DORQJ ZLWK FRQWLQXLQJ WR KHOS WKRVH IDPLOLHV IDFLQJ IRUHFORVXUH 7KLV QHZ YHQWXUH LV HVWLPDWHG WR KHOS DSSUR[LPDWHO\ IDPLOLHV WKLV \HDU DORQH

5HY 6RDULHV VXPV XS WKH FRUH EHOLHI RI WKH )LUVW %DSWLVW &KXUFK RI /LQFROQ *DUGHQ OLNH WKLV ´:H GRQ·W FHOHEUDWH -HVXV RQO\ RQ 6XQGD\ PRUQLQJ EXW DOVR EHOLHYH LQ VHUYLQJ RXU FRPPXQLW\ LQ WKH QDPH RI -HVXV DOO ZHHN ORQJ µ $QG E\ WKH JUDFH RI *RG WKH\ DUH GRLQJ MXVW WKDW )RU PRUH LQIRUPDWLRQ ,Q +$53·V ÀUVW \HDU WKH &-&'& ZDV DERXW +$53 YLVLW )%&6RPHUVHW FRP DEOH WR KHOS RYHU IDPLOLHV EXW /RUL * %D\QDUG LV D 6LGHU 6FKRODU DW 3DOPHU ZLWK WKH QXPEHU RI IRUHFORVXUH ÀOLQJV 7KHRORJLFDO 6HPLQDU\ ZKHUH VKH VWXGLHV VWHDGLO\ ULVLQJ 6RDULHV EHOLHYHG WKDW IDLWK DQG SXEOLF SROLF\ 6KH DOVR VHUYHV WKH\ QHHGHG WR GR PRUH 8QGHU KLV DV D FRXUW DSSRLQWHG VSHFLDO DGYRFDWH JXLGDQFH WKH &-&'& EURNHUHG D IRU DEXVHG DQG QHJOHFWHG FKLOGUHQ LQ 1 - SDUWQHUVKLS ZLWK D QHLJKERUKRRG UHYLWDOL]DWLRQ ÀUP FDOOHG $3' 3KRWRV FRXUWHV\ RI )LUVW %DSWLVW &KXUFK 6ROXWLRQV LQ $WODQWD *D 7KH ÀUP RI /LQFROQ *DUGHQV LQYHVWHG PLOOLRQ WR IXUWKHU 7KLV DUWLFOH ÀUVW DSSHDUHG LQ 35,60 +$53·V ZRUN DQG WR DOORZ WKH &-&'& 0DU $SULO WR EX\ YDFDQW EDQN RZQHG SURSHUWLHV

3OHDVH FRQVLGHU VXSSRUWLQJ :RUG 'HHG 1HWZRUN <RXU JLIW DOORZV XV WR GHYHORS KROLVWLF PLQLVWU\ WKURXJKRXW WKH QDWLRQ HTXLSSLQJ FKXUFKHV ZLWK JXHVW VSHDNHUV WUDLQLQJ ZRUNVKRSV DQG UHVRXUFHV

´$QG ZKDWHYHU \RX GR LQ ZRUG RU GHHG GR HYHU\WKLQJ LQ WKH QDPH RI WKH /RUG -HVXVµ &RO 1DPH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 'DWH BBBBB BBBBB BBBBB $GGUHVV BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 3KRQH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB (PDLO BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB $ JLIW RI BBB BBB BBB BBB BBB BBB 3OHDVH PDNH FKHFNV SD\DEOH WR (6$ ´(YDQJHOLFDOV IRU 6RFLDO $FWLRQµ , DXWKRUL]H WKH :RUG DQG 'HHG 1HWZRUN 0LQLVWU\ WR UHFHLYH P\ JLIW WKURXJK P\ FUHGLW FDUG 0\ DFFRXQW BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB ([SLUDWLRQ GDWH BBBBBBBBBBBBBBBBBBB 6LJQDWXUH DV LW DSSHDUV RQ FDUG BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB


3DJH

3UD[LV

,W¶V 3HUVRQDO 7KH VXQ LV VKLQLQJ %LUGV DUH FKLUSLQJ )ORZHUV DUH EORRPLQJ 7KH JUDVV LV JUHHQLQJ 3HRSOH DUH RXW RQFH DJDLQ MRJJLQJ ZDONLQJ DQG HQMR\LQJ WKH QHZ OLIH RI VSULQJ 1RZ LI VRPHRQH FRXOG MXVW WXUQ GRZQ WKH SROOHQ 'HVSLWH P\ VQLIÁ\ QRVH DQG LWFK\ H\HV , VR ZHOFRPH VSULQJ ,W JRHV ZHOO ZLWK P\ PHGLWDWLRQV RQ WKH HPSW\ WRPE $IWHU D EOHDN ZLQWHU ZKHUH 3KLODGHOSKLD H[SHULHQFHG UHFRUG VQRZIDOO LW·V QLFH WR GHFODUH WKDW &KULVW LV 5LVHQ DPLGVW EULJKW RXWGRRU FRORUV DQG VXQVKLQH

,W·V DOVR QLFH WR FDUU\ RQ WKH PLQLVWU\ RI :RUG 'HHG 1HWZRUN DPLGVW WKH EULJKWQHVV RI VSULQJ $V EDG D ZUDS DV FKXUFKHV JHW QRZDGD\V WKHUH LV HYLGHQFH RI QHZ OLIH LQ WKHP DV PDQ\ RI WKHP WDNH VHULRXVO\ WKHLU FDOOLQJ WR UHÁHFW WKH NLQJGRP RI *RG LQ WKHLU FRPPXQLWLHV 7KH )LUVW %DSWLVW &KXUFK RI /LQFROQ *DUGHQV IHDWXUHG LQ WKLV LVVXH LV EXW RQH RI PDQ\ FKXUFKHV WKDW DUH EHLQJ IDLWKIXO WR WKH FDOO WR EH VDOW RI WKH HDUWK DQG OLJKW RI WKH ZRUOG :RUG 'HHG 1HWZRUN VHHNV WR KHOS FRQJUHJDWLRQV RI DQ\ VKDSH VL]H DQG GHQRPLQDWLRQ

WR EHFRPH PRUH HIIHFWLYH DV PLVVLRQDO KROLVWLF DJHQWV RI JRVSHO WUDQVIRUPDWLRQ LQ WKHLU FRPPXQLWLHV DQG EH\RQG :KHWKHU \RXU FKXUFK FRXOG EHQHÀW IURP :'1·V VHUYLFHV RU LW LV DOUHDG\ GHHSO\ HQJDJHG LQ KROLVWLF PLQLVWULHV ZH ZDQW WR KHDU IURP \RX ,I WKHUH LV RQH WKLQJ WKDW KROLVWLF PLQLVWU\ WHDFKHV XV LW LV WKLV ZH DUH LQ LW WRJHWKHU *RG FDOOV XV WR WDNH SDUW LQ WKH PLVVLR 'HL DQG WR GR VR WRJHWKHU <RXU SDUWQHU IRU -HVXV· VDNH

$O 7L]RQ 'LUHFWRU

:H·UH XSGDWLQJ RXU ÀOHV 3OHDVH HPDLO \RXU DGGUHVV WR ZRUGDQGGHHG#HVD RQOLQH RUJ VR ZH FDQ VWD\ FRQQHFWHG

,PSRUWDQW :RUG DQG 'HHG 1HWZRUN ( /DQFDVWHU $YH :\QQHZRRG 3$

3UD[LV $FWLRQ DQG UHÁHFWLRQ XSRQ WKH ZRUOG LQ RUGHU WR WUDQVIRUP LW


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.