Students on the Master of Science in Engineering (MSE) course are trained to become the technical specialists and management staff of the future for industry and the public sector. They acquire the skills needed for careers in research and development departments, production, logistics, consultancy and public institutions and assume responsibility for managing interdisciplinary projects.
Upon successful completion of the Master's degree course you will be awarded the title "Master of Science [name of the University of Applied Sciences] in Engineering with Specialization in [name of the area of specialization]".
The title "Master of Science in Engineering (MSc)" is protected, recognized by the Swiss authorities and internationally valid.
The MSE comprises 90 ECTS credits. One ECTS credit requires an average of 30 hours' work.
The central element of your studies is the technical specialization in your specialist field. You extend your knowledge and practical experience at a Master Research Unit (MRU) through project work, supplementary courses and your Master's thesis.
Full-time study takes three semesters, while part-time study for those in employment will take longer, as a function of the number of hours worked.
The MSE is designed for the best 35% of Bachelor's graduates, who will generally have achieved a Grade A or B for their Bachelor's degree.
Admission on the basis of a portfolio is possible but must be clarified with the University of Applied Sciences concerned.
The MSE is taught on a multilingual basis. The specialization can be taken in German, English or French, depending on the particular MRU. The theory modules are offered either in the language of the location or in English.
It is not possible to complete the full course in English at all locations. There will generally be a mixture of English and the national language of the region concerned. The Universities of Applied Sciences will be pleased to advise you.
You study your technical specialization at the University of Applied Sciences that offers your chosen Master Research Unit (MRU).
Proof of attainment of the learning outcome is required in each semester of a module. A final examination is held for the theory modules in each case.
In your technical specialization, you obtain your ECTS credits through project work or supplementary courses, and with your Master's thesis. In the technical specialization, proof of attainment of the learning outcome is generally obtained through an assessment of project work, a report and the presentation of this report.
Each University of Applied Sciences sets its own tuition fees.
Students are entitled to receive a grant if the MSE constitutes part of their initial training.
Students should register at the University of Applied Sciences that offers their desired MRU. Upon receipt of the registration, the University of Applied Sciences will clarify the student's eligibility. If necessary, a supplementary interview can be arranged.
You can obtain further information or personal advice from the Universities of Applied Sciences participating in the MSE.
Foreign students can be admitted if they satisfy the admission conditions and have the necessary language knowledge. The conditions are specified by the Universities of Applied Sciences participating in the MSE. You can obtain more information directly from the University of Applied Sciences of your choice. After you have submitted your registration, the University of Applied Sciences in question will clarify your eligibility. If necessary, a supplementary interview can be arranged.
It is possible to complete one semester abroad. In addition, you will be given organizational support if you wish to work on an international research project in the context of your technical specialization.


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José Antonio Cubiles Ramos, conocido como José Cubiles (Cádiz, 15 de mayo de 1894-Madrid, 5 de abril de 1971) fue un pianista y director de orquesta español.

Biografía
Comenzó desde muy joven a tocar el piano, a la edad de cinco años y, dado su talento, el director de la escuela de música de Cádiz ensalzó y cuidó de la educación pianística y musical de su joven alumno. Conforme avanzó en su tarea, marchó a Madrid, donde protegido por la infanta doña Isabel de Borbón, se matriculó en el conservatorio de dicha ciudad para cursar sus estudios de teoría musical y piano con Pilar Fernández de la Mora. Sus brillantes interpretaciones le llevaron a que obtuviera ciertos premios extraordinarios de Bellas Artes en solfeo, piano y armonía.

Luego marchó a París, donde toma lecciones de Louis Diémer. En el año 1914 se le obsequia con el primer premio de piano del Conservatorio de la capital francesa. A los dos años ingresa como profesor en el Real Conservatorio Superior de Música de Madrid (donde impartió clases durante 45 años y llegó  a ser director antes de jubilarse) y, sin descuidar su labores docentes, comienza su carrera internacional como concertista. A este respecto ofrece recitales, participa como solista junto a orquestas diversas y forma parte de agrupaciones de cámara con músicos como Jacques Thibaud, Paul Kochanski y Gaspar Cassadó.

De sus interpretaciones destacan las del Romanticismo por su expresividad. Las que atañen a compositores tanto españoles (como Isaac Albéniz, Enrique Granados o Joaquín Turina) como otros europeos (destacando Fredéric Chopin) fueron notables. Tuvo una gran amistad con Manuel de Falla, para quien estreno en Madrid su obra Noches en los jardines de España, en 1916 junto a la Orquesta Sinfónica de Madrid bajo la batuta de Enrique Fernández Arbós.

Además de su fama internacional como pianista, también cabe mencionar la de director. Así pues, José Cubiles dirigió diferentes orquestas, no sólo en el ámbito español, sino de igual forma en el internacional, destacando la orquesta Filarmónica de Berlín. Asimismo, atendiendo a su tarea como docente, fue en 1943 cuando obtiene la cátedra de virtuosismo del Real Conservatorio Superior de Música de Madrid. De la misma manera, es este mismo año cuando se convierte en profesor de la Real Academia de Bellas Artes de San Fernando. A este respecto, hay que mencionar los diferentes premios con que se le condecoró, destacando la Gran Cruz de Alfonso X el Sabio y la Legión española de Francia.

Entre los numerosos alumnos con que contó, algunos de ellos ha sido posteriormente destacados músicos del panorama español, como por ejemplo Joaquín Achúcarro, Guillermo González Hernández, Rafael Orozco, María Engracia Gil, Genoveva Gálvez,  María Orán, Manuel Carra y Clotilde Ortíz Rubín de Celis.

Referencias
 Biografías y vidas

Pianistas de música clásica de España
Directores de orquesta de España
Académicos de la Real Academia de Bellas Artes de San Fernando
Músicos clásicos del siglo XX de España
Grandes cruces de la Orden de Alfonso X el Sabio
Nacidos en Cádiz
Fallecidos en Madrid

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text:
Football Winners Today
Elvera Nolasco 27-Dec-2018
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Football Winner
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DACA déjà vu: Biden reaffirms, doesn't expand, migrant protection program
Posted Aug 31, 2022, 5:51 am
Tristan Richards
Andrew Nicla/Cronkite NewsDACA supporters and opponents agree on one thing: The program will always be in danger unless Congress acts on immigration reform. DACA recipients were among those protesting in Washington in this 2017 file photo, when the Trump administration first tried to end the program that protected more than 770,000 undocumented immigrants.
The Biden administration reaffirmed its commitment Tuesday to DACA, officially posting regulations to extend the 10-year-old program that has protected hundreds of thousands of young undocumented immigrants.
The rule, which takes effect Oct. 31, makes few changes to the Deferred Action for Childhood Arrivals program and it does not move it any closer to becoming law – a key shortcoming for advocates who lived through Trump administration efforts to overturn the program.
"Any program that is created by one president can be undone by another," said Jose Patiño, vice president of education and external affairs at Aliento. "That is an issue we have seen with DACA."
Patiño said groups like his "are looking at all avenues" to pressure Congress into passing comprehensive immigration reform that would enshrine and expand DACA.
But critics said that is not likely to happen, noting that DACA had to be approved as a regulation because Congress could not reach agreement on immigration legislation. Matthew O'Brien, director of investigations at the Immigration Reform Law Institute, called DACA "a federal regulation that doesn't have any statutory authority underlying it."
"The fact is that Congress put restrictions on immigration for a reason and the president, whether it is Obama or Biden, doesn't have any authority to unilaterally change those because they don't like the restrictions that are in place," said O'Brien, a former immigration judge.
It was during then-President Barack Obama's first term that the Department of Homeland Security first enacted DACA as an administrative rule that said Dreamers – undocumented immigrants who were brought to the U.S. as children – would not be priorities for removal.
The program deferred deportation of those immigrants for up to two years, protection that is renewable. It did not provide a path to citizenship, instead granting them "lawfully present" status, which allowed them to legally obtain work permits, drivers' licenses and more.
Immigrants had to apply for the protection, paying fees and showing they had continuously been in the U.S., had a clean record and were in school or the military, among other requirements.
As many as 776,000 people have been protected by the program, and there were 611,470 active DACA recipients in the U.S. at the end of 2021, with 23,090 of them in Arizona.
Critics have said since the start that DACA is an abuse of executive power and former President Donald Trump vowed to overturn it. Those efforts ultimately failed, but legal challenges since have had some success stifling the program.
The most recent ruling, from a federal district court in Texas, said DACA could continue to protect current recipients, who can reapply for coverage. But it said DHS cannot accept applications from Dreamers not previously covered.
That injunction barring new applicants would still apply under the rule posted Tuesday. And the final rule does not expand on the requirements or eligibility for DACA recipients, some of whom are now reaching upward of 40 years old.
Patiño called the final rule somewhat "disappointing."
"We have been advocating for the program to be expanded. By that we mean the opportunity dates," he said. "We were hoping that with this new rule it would change some of those deadlines.
"It seems that nothing really changed for DACA recipients or the community," Patiño said.
Andrew Arthur, resident fellow in law and policy at the Center for Immigration Studies, said that "all of this is really just kicking the can down the road in respect to DACA."
"The administration would be better off simply letting the court rule and sending it over to Congress who actually has the authority to grant amnesty – or not – to this population of people," Arthur said.
He called DACA something of a relic, a remnant of the Obama administration. Even though DACA has been beneficial to a large number of immigrants, he said, its practicality is starting to wane.
"They are certainly a sympathetic population of people," Arthur said of Dreamers. "Although I will note that many children covered under this are approaching middle age based on criteria for it."
The Southern Poverty Law Center includes the Center for Immigration Studies on its list of "hate groups," citing its repeated circulation of white nationalist and antisemitic writers in its weekly newsletter, its record of publishing reports that hype the criminality of immigrants and noting connections between the organization's leadership and white supremacist groups.
Julia Gelatt, senior policy analyst for the Migration Policy Institute, said that posting the new rule in the Federal Register is a way to give for the program to have a "strong legal footing" against ongoing court challenges.
But without action by Congress, she said, the program can only hold out for so long.
"Ultimately, Congress should be legislating on immigration," Gelatt said. "The only kind of real relief for Dreamers would be legislation offering them a path to legal status."
She agreed with Patiño that Congress should not only codify DACA but expand it, including a pathway to citizenship. She said "DACA has enabled beneficiaries to contribute a lot."
"We've seen them working all kinds of vital jobs in the pandemic, increasing their earnings, paying higher taxes, and really contributing to the country," Gelatt said.
While the two sides of the issue don't agree on much, they all seem to agree that Congress needs to act on the question.
Even though O'Brien does not think congressional action is likely, that does not mean it's not possible. Arthur said Congress can act at "any time," and that the Biden administration should focus its efforts there.
"It would be better for the administration to propose some real changes that would pass with a bipartisan majority in the House and 60 votes in the Senate that would beef up border security and make some meaningful changes to lawful immigration in the United States and at the same time provide real benefits that would allow the DACA population to move on with their lives," Arthur said.
Talks over protecting Dreamers pick up in Congress, but agreement still elusive
U.S. Senate Democrats make a last-ditch push for a pathway to citizenship for Dreamers
With courts poised to chop DACA, advocates pursue other immigration reforms
Immigration advocates call again for DACA renewal in Congress, as possible end looms
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¡Americano! Musical con debut fuera de Broadway inspirado por un 'dreamer' de Phoenix
Arizona Dreamer's journey depicted in '¡Americano!', a musical debuting off-Broadway
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aliento, daca, dreamers, immigration, jose patino, migration policy institute
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Homelessness among veterans has been cut in half since 2010, VA says
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I'm not what you would call a "sports nut".
Caroline is playing soccer and loving it.
Sam and Emma Kate are playing t-ball.
Emma Kate is loving it.
Sam participates. Most of the time.
He did a great job this past weekend and stayed on the field for the duration of the game, which is a milestone.
I think they are super cute and bobble-headish in the helmets.
Pink for Miss Priss? What else would you expect?
or maybe it was a trip with my feeling-pretty-generous Dad to Trader Joe's that made it such a great weekend. I digress, back to sports.
So remember from this blog in years past the little girl who cried and wouldn't get off of my leg to enter preschool? Or dance class? Or a birthday party?
Yep. That's her. She's pretty awesome.


text:
The 50 Best Movies on Netflix Right Now (November 2021)
Sony Blu-Ray Disc Player Gets Price Cut for Black Friday
The Best Sci-Fi Movies on Amazon Prime (November 2021)
Looking for a vicarious visit to the outer limits of the imagination? A great sci-fi film is a brilliant way to experience the extraordinary from the comfort of your living room. Whether you're into space flicks, extraterrestrial outings, earthbound experiments gone awry, or something equally magnificent that lives in-between these niches, there are plenty of sci-fi offerings on Amazon Video to choose from. If you're a yearly Prime subscriber and want to watch something a little "out there," we've rounded up all the best sci-fi movies you can watch on Amazon Video right now.
We've also rounded up the best sci-fi movies on Netflix and the best sci-fi movies on Hulu if you're in need of additional sci-fi recommendations.
Phantasm (1979)
Horror, Science Fiction
Angus Scrimm, A. Michael Baldwin, Bill Thornbury
watch on Amazon Prime
Blending the horror and sci-fi genres is like meshing peanut butter and jelly — you simply can't go wrong. This is exactly the unbeatable combo that audiences received with writer-director Don Coscarelli's cult-hit Phantasm. Starring Michael Baldwin as pre-teen Mike, the young suburbanite begins to suspect that the ghoulish town mortician (Angus Scrimm) may be responsible for the death of his older brother. Joining forces with his older brother Jody (Bill Thornbury) and family-friend Reggie (Reggie Banister), the trio starts hunting down the Tall Mall, all while avoiding his multi-dimensional minions.
You may often hear pundits talk about "fighting for our future," but what happens when that gets literal? That's the task the heroes face in Amazon Studios' The Tomorrow War, starring Chris Pratt as Dan Forester — a present-day soldier who agrees to a trip across time. When soldiers from 2051 arrive in the present to warn of a future in which unbeatable aliens lay waste to humanity, Forester and other brave souls sacrifice their todays to save all our tomorrows. With an exciting premise and a great cast featuring Pratt, Yvonne Strahovski, J.K. Simmons, Sam Richardson, and more, The Tomorrow War is a fun, explosive adventure with just a dash of Edge of Tomorrow.
Rotten Tomatoes: 54%
Stars: Chris Pratt, Yvonne Strahovski, J.K. Simmons
Director: Chris McKay
Rating: PG-13
Light of My Life (2019)
In a post-apocalyptic landscape, a man only referred to as Dad (Casey Affleck) shepherds his pre-teen daughter named Rags (Anna Pniowsky) through a ravaged British Columbia, an unrelenting hellscape devoid of women. It turns out a plague vanquished nearly the entire world's female population approximately 10 years before the events of the film. Disguising Rags as a boy, the two must constantly be on the move from bandits looking for female stragglers. A survivalist sci-fi thriller penned and directed by leading man Casey Affleck, Light of My Life explores familiar end-of-the-world terrain but through a matured and philosophical lens that Affleck's layered script provides.
Stars: Casey Affleck, Tom Bower, Elisabeth Moss
Director: Casey Affleck
One of the joys of Amazon Prime is discovering movies that may have otherwise fallen through the cracks. Case in point: Vivarium, a sci-fi/horror film that only had a limited theatrical release. Imogen Poots and Jesse Eisenberg star as Gemma and Tom, a young couple who are looking for a new home. However, their experience quickly becomes a nightmare when they are trapped in a seemingly infinite row of identical houses. Something otherworldly is in play, and neither Tom nor Gemma will be happy to learn what they have to do in order to break free.
Stars: Imogen Poots, Jesse Eisenberg
Director: Lorcan Finnegan
What if you could bring back the dead without resorting to the supernatural? Archive presents a near future in which scientist George Almore (Theo James) is haunted by the loss of his wife, Jules (Stacy Martin). Fortunately, George happens to be one of the foremost experts on artificial intelligence, and he sees his research as a way to reunite with Jules by creating more human-like machines. But George's problems begin to mount when his J2 robot senses that he is far more enamored with his upgraded J3 model, despite both robots sharing Jules' personality traits.
Stars: Theo James, Stacy Martin, Rhona Mitra, Peter Ferdinando
Director: Gavin Rothery
Rating: TV-MA
Infinity Chamber (2017)
Frank Lerner (Christopher Soren Kelly) wakes up in a futuristic prison cell after being arrested for unknown reasons. His only company within this sealed chamber is a ceiling-mounted A.I., which calls itself simply Howard (Jesse D. Arrow). Herein lies the entire premise of Infinity Chamber, a story about one man's confused isolation in his attempt to escape. It saddles itself among the best sci-fi movies currently on Amazon Prime Video by not being typical, straying away from the overused science fiction premises of yesteryear with a host of twists and turns that would leave even some of the best chess players scratching their heads. From the reasons for Frank's incarceration to how exactly he will get out, and then even into questioning the real functionality of this accompanying artificial intelligence, theories abound leaving the viewer strapped in, not unlike Frank himself.
Stars: Cassandra Clark, Christopher Soren Kelly, Jesse D. Howard
Director: Travis Milloy
At first blush, Coherence seems like an ordinary bottle movie about a dinner party. But when a comet passes overhead, it inexplicably creates infinite realities, causing the characters to undergo countless, near-identical experiences over and over. As time continues, the science fiction and psychological horror accelerate as eight individuals begin to question the nature of reality and whether or not the people they're with are who they say they are. The film is low-budget sci-fi at its best, shot almost entirely in one house, using mostly improvised dialogue and a severe external threat that you feel but never really see. If you like to sit on the edge of your seat, Coherence is for you.
Stars: Emily Baldoni, Hugo Armstrong, Nicholas Brendon
Director: James Ward Byrkit
The History of Time Travel (2014)
Time travel movies are typically convoluted and filled with unnecessary plotlines that confuse more than they engage. Except, of course, 2014's The History of Time Travel, which actually conveys a cohesive narrative in the form of a fictionalized documentary. It was written and directed by newcomer Richard Kennedy, who showcases the birth of the world's first time-travel machine through various reports and experts. Of course, despite appearing like a godsend, time travel always comes with consequences, many of them now altering some of the most renowned events in human history.
Rotten Tomatoes: Not rated
Stars: Elizabeth Lestina, Daniel W. May, Krista Ales
Director: Richard Kennedy
The Man Who Fell to Earth (1976)
The late David Bowie has always been regarded as otherworldly. Now that the Pentagon has come clean about the existence of UFOs, it shouldn't be long before we learn the truth that Bowie was sent here from another galaxy to blow our minds. In a role tailor-made for the prolific musician and artist, Bowie (in his first feature film) stars as Thomas Newton, an alien who crashes on Earth in search of water to save his drought-stricken planet. Using his superior intellect and knowledge of advanced technology to sell (mainly, a self-developing Polaroid-like camera), Thomas builds a multimillion-dollar global corporation to raise money to construct a spaceship so he can transport water home to his family. But Thomas' gentle and naive nature is no match for our corrupt world, and he soon finds himself distracted from his mission in a gin- and sex-filled affair with Mary-Lou (Candy Clark). Rip Torn and Buck Henry help round out the cast in this avant-garde cult classic.
Stars: David Bowie, Rip Torn, Candy Clark
Director: Nicolas Roeg
The Vast of Night (2020)
The Vast of Night, a low-budget film self-funded by first-time director Andrew Patterson, is the best sci-fi gem you've never heard of. Written by newcomers James Montague and Craig W. Sanger, this old-school period piece manages to build a gripping sense of looming panic without the aid of big-budget special effects, mouth-dripping aliens, or explosions — it's all on the characters. Cleverly framed as an episode of a Twilight Zone-style show called "Paradox Theater," we're transported to Roswell-era Cayuga, New Mexico, where small-town radio DJ Everett Sloan (Jake Horowitz) and town switchboard operator Fay Crocker (Sierra McCormick) try to get to the bottom of a strange audio frequency that's interrupting calls during Fay's nightly shift. Turns out they may be emanating from a UFO hovering over the town. The Vast of Night opened to critical praise at the 2019 Slamdance Film Festival and later that year was named first runner-up for the Midnight Madness People's Choice Award at the Toronto International Film Festival.
Stars: Sierra McCormick, Bruce Davis, Jake Horowitz
Director: Andrew Patterson
Split Second (1992)
Blade Runner-alum Rutger Hauer returns to his roots in the 1992 horror sci-fi Split Second as a veteran detective named Harley Stone. Still suffering from the loss of his partner, Foster, coupled with the guilt of having an affair with Foster's wife, Stone now must saddle up with junior officer psychologist Dick Durkin (Neil Duncan) on a case that could very well end his suffering. Together, Stone and Durkin must learn to come together in an investigation of mass serial killings perpetrated in the same vein as Foster's own demise. Set in a far-future 2008 London now flooded due to extreme rainfall and global warming, made all the more downtrodden with a gruesome killer on the loose, Split Second is a sci-fi movie that takes heart in the noir mystery without being too cheesy with its horror tropes.
Stars: Rutger Hauer, Kim Catrall, Michael J. Pollard
Directors: Tony Maylam and Ian Sharp
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text:
Grayscale Bitcoin Trust
ARK Invest
Guggenheim CIO Says Bitcoin May Have Topped Out for Now
Proposed Crypto Wallet Rule Among Those Frozen by Biden Pending Review
Kevin ReynoldsJan 21, 2021
Former Canadian Prime Minister Lists Bitcoin as Possible Future Reserve Currency
Australian's New Budget Includes a Bitcoin Tax Cut
Stan Higgins
May 9, 2017 at 2:00 p.m. UTC Updated May 9, 2017 at 2:01 p.m. UTC
Australia's latest national budget eliminates goods-and-services tax (GST) on bitcoin purchases.
The cut, announced today by the Australian Department of the Treasury, brings an end to a years-long controversy over the way consumers faced the prospect of paying double GST when first buying, then spending digital currencies.
The government began looking into the matter in mid-2015, and the removal of the tax comes just days after officials reaffirmed their pledge to resolve the issue. If the new budget is approved, the policy will go into effect on 1st July, according to the Treasury Department.
The Australian government noted that the new budget "will make it easier for new innovative digital currency businesses to operate in Australia".
Officials unveiled their plan to eliminate the GST charge on digital currencies last year, as part of a wide-ranging statement on fintech.
The budget also includes support for a previously announced fintech accelerator program. The goal, according to the government, is to provide a two-year window for new technology firms to test financial products in a limited setting – a strategy that a number of governments and central banks worldwide have pursued in recent months.
"Robust consumer protections and disclosure requirements will be in place to protect customers including responsible lending obligations, best interest duty, and the need for adequate compensation and dispute resolution arrangements," the Treasury Department said of the program.
While not part of today's release, Australia is also weighing potential regulatory changes to account for blockchain applications.
Scissors image via Shutterstock
AustraliaNewsTaxes
Nikhilesh DeJan 21, 2021
Zack VoellJan 21, 2021


A flood can be devastating. Whether it is the result of a burst pipe or a torrential downpour, floods have the potential to cause massive damage to a property and destroy many important or valuable items. In the aftermath of a flood, homeowners have many things on their minds. It can be difficult to know where to begin cleaning up the mess. With Carpet Cleaning Medford, you are not alone. We have helped numerous residents take care of flood clean ups over the years. We understand how difficult and upsetting the process can be, and take the extra time and effort to help ease the burden.
Once the water has been drained or pumped out, the next step is to dry everything as quickly as possible. Dampness and moisture can lead to mold and mildew, as well as other problems. This is often the source of much of the losses sustained in a flood. While submersion in water will immediately damage electronics or non-water resistant objects, other items become damaged due to moisture over time. This means the first steps you take after a flood can help you maximize the number of things you are able to salvage. When you contact Carpet Cleaning Medford, we will provide you with emergency assistance to get things under control when it comes to saving your carpet and other belongings.
After everything is completely dry, we can begin to assess the mess caused by the flood to determine whether carpet, furniture, and upholstery can be saved. Items that are undamaged need to be thoroughly cleaned since the water from a flood is often breeding grounds for bacteria. We use state of the art equipment to sanitize carpeting and other affected items. Additionally, we will remove any staining and discoloration to restore their appearance to pre-flood condition.
Time is of the essence. Carpet Cleaning Medford can dispatch immediate assistance in the event of a flood. Our experts will provide guidance and advice to help customers determine what they need to do in order to reduce the amount of loss and damage they incur. We offer effective solutions and outstanding professionalism to help a bad situation turn into a more manageable one. For prompt and reliable assistance with flood clean up or other emergencies, call us right away at (609) 451-1115.
Our company has been a trusted business in the community for many years. We have a special relationship with our customers, and strive to provide them with the service and care they deserve. Our team approaches every job with the determination to deliver the best results possible. Applying their years of experience and meticulously refined skills, they consistently meet and exceed customer expectations. That's why no matter the nature of the job, we feel confident that we are the right carpet cleaning company to call. From flood clean ups to simple area rug cleanings, contact (609) 451-1115 for expedient professional assistance.


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Q: J2ME AES Decryption Error(org.bouncycastle.crypto.InvalidCipherTextException: pad block corrupted) I am doing encryption and decryption using AES Algorithm with bouncy castle
My encryption and decryption works ok but it gives me error when my plain text size is bigger
even sometimes it is giving non decrypted data
public static boolean setEncryptionKey(String keyText)
{
    byte[] keyBytes = keyText.getBytes();

    key = new KeyParameter(keyBytes);
    engine = new AESFastEngine();
    cipher = new PaddedBufferedBlockCipher(engine);

    return true;
}

Encryption:
public static String encryptString(String plainText)
{

        byte[] plainArray = plainText.getBytes();

        cipher.init(true, key);
        byte[] cipherBytes = new byte[cipher.getOutputSize(plainArray.length)];
        int cipherLength = cipher.processBytes(plainArray, 0, plainArray.length, cipherBytes, 0);
        cipher.doFinal(cipherBytes, cipherLength);
        String cipherString = new String(cipherBytes);
        return cipherString;
    }

Decryption:
public static String decryptString(String encryptedText)
{

        byte[] cipherBytes = encryptedText.getBytes();
        cipher.init(false, key);
        byte[] decryptedBytes = new byte[cipher.getOutputSize(cipherBytes.length)];
        int decryptedLength = cipher.processBytes(cipherBytes, 0, cipherBytes.length, decryptedBytes, 0);
        cipher.doFinal(decryptedBytes, decryptedLength);
        String decryptedString = new String(decryptedBytes);

        int index = decryptedString.indexOf("\u0000");
        if (index >= 0)
        {
            decryptedString = decryptedString.substring(0, index);
        }
        return decryptedString;
    }

This decryption is giving me following error
org.bouncycastle.crypto.InvalidCipherTextException: pad block corrupted
        at org.bouncycastle.crypto.paddings.PKCS7Padding.padCount(+30)
        at org.bouncycastle.crypto.paddings.PaddedBufferedBlockCipher.doFinal(+190)
        at com.NewCrypto.decryptString(NewCrypto.java:103)
        at com.New_Midlet.startApp(New_Midlet.java:23)
        at javax.microedition.midlet.MIDletProxy.startApp(MIDletProxy.java:44)
        at com.sun.midp.midlet.Scheduler.schedule(Scheduler.java:375)
        at com.sun.midp.main.Main.runLocalClass(Main.java:477)
        at com.sun.midp.main.Main.main(+80)

what could be the problem ?

A: The line
String cipherString = new String(cipherBytes);

is a bug. cipherBytes is a byte array with arbitrary values and cannot be converted to a string using any of the Java string decoders. You should just send/save the cipher as a byte array. If you must make it a string then you'll have to use an encoder. Base64 encoders are often used, as are Base16 (hex). You can use the Apache Commons Codec or my favorite, the Harder Base64 codec.

redpajama_set_name: RedPajamaStackExchange


NANPS & the Toronto Botanical Garden are proud to announce a half day seed germination workshop at the TBG with native plant expert Paul Heydon, Saturday March 2nd 2019, 9:30am – 12pm.
Paul is a biologist, landscape designer and more! His company provides biological consulting, ecological restoration, Ecosystem Land Classification surveying, and locally-sourced native plants. When not busy in the nursery or at restoration sites, Paul spends his time exploring nearby nature with his two young children.
NANPS is proud to announce an evening with Lorraine Johnson, Wednesday April 17th, 2019, 7:30 pm – 9:00pm at the Koffler House (Multi-Faith Centre) University of Toronto, 569 Spadina Ave. Toronto, Ontario.
Online registration is now open! Tickets are $10 with a NANPS membership, $15 for General Public, and free for University of Toronto students (please show student ID at the door).
Join NANPS on Wednesday March 13th, 2019 for an educational and enjoyable evening with Scott MacIvor, 7:00– 8:30pm, Wilson Hall, New College, University of Toronto, 40 Willcocks Street, Toronto, Ontario.(PLEASE NOTE, this location has been updated since this event was originally planned).
Scott will introduce us to common bee species of Toronto, their habitat, impacts on bees in cities, and how to create nesting opportunities for urban bees.
Scott MacIvor is an Assistant Professor in the Department of Biological Sciences at the University of Toronto Scarborough. He is interested in plants and pollinators in cities and more broadly, the biodiversity and ecosystem functioning of green infrastructure, including public and private gardens, parks, and green roofs. Scott collaborates nationally and internationally, as well, with the City of Toronto on a number of projects, including the 'Bees of Toronto' Biodiversity Series book, and the Pollinator Protection Strategy.
Online registration is open now! NANPS members $10, General Public $15. University of Toronto students are free (please have student ID ready at the door).
Nancy will present some of the most interesting wild berry species, describing their cultural significance, traditional harvesting and processing techniques, and population threats. She will also demonstrate how many wild berry species are easily propagated, and grow particularly well in garden settings where they provide beauty, interest and food.
This event is free for NANPS & TBG members!
Register online and receive a free packet of local native plant seeds at the door. Your name will also included in a draw for a NANPS Plant Sale* voucher.
*The NANPS Plant Sale will be held at TBG on Saturday May 5th.
A discussion of the numerous threats to the survival of native plants and the organisms that depend on them since the time of European settlement. Attention will be placed on the importance of native plants to our ecology and how habitat loss, fragmentation, naturalized and invasive species impact biodiversity.
NANPS & Toronto Botanical Garden are thrilled to bring you this visually stunning documentary, Hometown Habitat, on Saturday April 21st, 4-6pm, at the Toronto Botanical Garden, 777 Lawrence Ave East, Toronto. Featuring interviews with passionate experts and activists, and narrated by renowned entomologist Douglas Tallamy, the film challenges the notion that humans are here and nature is someplace else.
On Wednesday April 11th, 7:30 pm 2018, Paul will be presenting Tracing the Roots of Native Plants. Paul will explore what defines a 'native' plant, and look at the evolution of plants and the impact of people on our native plant communities. An emphasis will be placed the native plants of Ontario and how they came to flourish in the area. Paul will also be speaking at TBG on April 25th! Tickets for April 25th talk available here.
When: Monday, March 30, 2015, 7:30 – 8:30 pm.
Below is a video of the talk. The talk and video were made possible by generous funding from the McLean Foundation.


text:
Q: Parsing RSS with Perl and XML::XPath I am completely lost and do not understand RSS/XML parsing at all. It make no sense to me whatsoever.
Here is the Perl script I am hacking away with:
#!/usr/bin/perl -w
use strict;
use LWP::Simple;
use XML::XPath;
use Data::Dumper;

my $rssurl      = "http://librivox.org/rss/4273";
my $xml = get($rssurl);
my $xp = XML::XPath->new( xml => $xml );
my $stories = $xp->find( '/' );

foreach my $story( $stories->get_nodelist ) {
    print "----\n";
    my $title = $xp->find( 'title', $story )->string_value;
    print "title is [$title]\n";
}

The biggest mystery to me is what do I pass to $xp->find() I am just guess and grasping at straws.  Isn't there a way I can just find everything and iterate over whatever was found?

A: XML::XPath::find takes an XPath as input and returns a XML::XPath::Nodeset object, which you can iterate over.
$stories = $xp->find( '//channel/item' );  # find all <channel><item>
foreach my $story ($stories->get_nodelist) {
    my $titles = $story->find( 'title' );  # a set, even if there's only 1 elem
    foreach my $title ($titles->get_nodelist) {
        print "title is ", $title->string_value;
    }
}

A: I see you have an answer using XML::Feed, but I thought it was worth resolving this too.
You need to get used to the XPath syntax. This 10-Minute XPath Tutorial is a good swift introduction. XPath expressions are essentially similar to file system paths, with a few additions.
Looking at the XML from your feed, the root element is rss, within which is a channel, containing a number of item elements. It is these you are looking for, so the XPath expression is just /rss/channel/item.
You don't need to use the original XML::XPath object to call find: each XML::XPath::Node::Element object that has come from a previous call to find has its own find method that does exactly what you have written, so you can just write $item->find('title'), which will return a XML::XPath::NodeSet.
Furthermore, XML::XPath::NodeSet has stringify overridden as a call to to_literal, so there is also no need for your string_value call.
This code does what you intended. I hope it helps.
use strict;
use warnings;

use LWP::Simple;
use XML::XPath;

my $rssurl = "http://librivox.org/rss/4273";
my $xml    = get($rssurl);
my $xp     = XML::XPath->new( xml => $xml );
my @items  = $xp->findnodes('/rss/channel/item');

foreach my $item (@items) {
  print "----\n";
  my $title = $item->find('title');
  print "title is <<$title>>\n";
}

output
----
title is <<1 - Section 1>>
----
title is <<2 - Section 2>>
----
title is <<3 - Section 3>>
----
title is <<4 - Section 4>>


text:
What Are Advantages Of A Multipoint Connection Over A Point-to-point Connection?
Point-to-point connection is limited to two devices, where else more than two devices share a single link in multipoint connection. Multipoint connection can be used for fail-over and reliability.
Connection will be more reliable,more than two specific devices shared a single link.
How To Connect A Router?
To connect a router, plug the Ethernet cable into the Ethernet port on the router. The other end of this...
What Are The Basic Requirements For Connecting A Computer To Internet?
Internet is types of Wide Area Network (WAN) and collection of networks of networks. Internet span globe...
What Are The Different Methods Of Connecting To The Internet?
There are numerous ways to connect to the Internet. Here are the more obvious ones: Direct connection,...
When A Party Makes A Local Telephone Call To Another Party, Is This A Point To Point Or Multipoint Connection?
This is a multipoint connection because there is a sharing of transmission medium(telephone wires). If...
What Is The Typical Upload Speed Of A Satellite Broadband Connection?
Witch one satellite is a fast up load speed than broadband...
How Do I Connect To A Pear To Pear Connection?
What peer-to-peer are you trying to connect to? Ares? Shareaza? Limewire?...
What's A Connective(english)?
Connectives are what join sentences together to help the text to flow. There the words that connect on...
What Does To Feel A Connection Mean?
Well there is kinda two answers for this one.... 1) a connection is when you can feel like yourself with...
What are the symptoms of a bipolar mental disorder? Is it connected to depression too?
Bi-polarBi means twoTwo poles, or opposite parts Depression is an integral part of bipolar disorder. ...
If you could have a do over, what would it be? Anything from your entire life up to this point that you'd like to 'do over'?
What are the advantages of going to Mars, from a political viewpoint?
What Is The Compensation Point?
Can You Explain The History Of The Internet?
Who Governs The Internet?
How ISP Connect To The Internet?
What Are The Samples Of Intranet?
What Are The Different Kinds Of Joints?
Point Out The Advantages Of Continuous Audit Over Final Audit.
Who will I love in future?
What Kind Of Roof Do You Have?
When You Are Pregnant And Go To The Hospital Do They Test You For Drugs?
How Many Days Are In A Year?
Do any other Girls like talking about bras around nerdy boys just to make them feel uncomfortable? I DO! Haha
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What are the best ways to help a marriage (or other, long-term relationship) last, in your opinion?
Would anyone who has a PHD be the smartest person on Earth?
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text:
HomeFinancial ManagementNew Balance Firm's Financial Indicators
New Balance Firm's Financial Indicators
New Balance is on the cusp of several new projects that span six and three years, respectively. The first project is related to the release of sneakers aimed at an audience from 12 to 18 years old among men. The face of the marketing campaign will be Granada's Olympic runner Kirani James, who won gold in the 400 meters, becoming the first non-American to reach the summit. This project requires the deployment of a factory in Vietnam a lot of operating costs. The second project is designed for a more solvent audience and can be developed in the hiking sector, which is experiencing an increase. For this project, it is possible to use an existing factory experiencing downtime, which will increase the profitability of the company's assets. Each project has its pros and cons; this work aims to evaluate all possible alternatives and suggest the most appropriate one. The paper presents an analysis of the company's state, analysis and calculation of a set of financial indicators for each project, and analysis of decisions on this situation.
New Balance is a sports shoe company with over a century of history. The company's revenue has grown steadily over the past twenty years, posting higher levels in the Summer Olympic years and returning to a stable growth rate after that (New Balance Financials, 2022). New Balance has always prioritized quality over quantity and has been an innovator of sports technology in footwear. The company's factories are present all over the world; products are often presented as sponsors for many important events in the world of sports: the Olympic Games, the NBA, the Australian Football League (Our goal is to help you achieve yours, n.d.). At the same time, New Balance is surrounded by a host of other strong competitors represented by Nike, Reebok, Adidas. The athletic shoe industry is showing growth in financial terms, despite forecasts.
New Balance also meets the environmental and social responsibility requirements that any large company must meet. For the sake of reputation and the environment, the company manufactures 100% recyclable boxes and uses environmentally friendly technologies in production (Sustainability, 2022). However, at the same time, there is no evidence from the company about reducing greenhouse gases, using freshwater, and another emphasis on essential issues in any production. On the other hand, the company employs more than five thousand people; the team encourages creativity, diversity, tolerance, which is reflected by the introduction of the policy on the work-time balance program. However, to maintain stable growth, it is needed to put in much effort, holding on to the market presence through marketing the quality of new technology in shoes, which competitors constantly stimulate.
Technological externalities indicate a company's competitiveness in a given industry. Other competitors in the face of Nike, Reebok show advanced developments from a higher price category at the expense of brand and quality. New Balance is a more affordable product, which is a definite plus for a younger audience. However, at the same time, these products also need to keep up with the ever-evolving technology trends to maintain their position in the market. The older audience, which is often the parent of a younger first-project target audience, very often values quality over price, which requires New Balance to invest in R&D continually.
New Balance is affected by external environmental factors just as much as its competitors, but the strongest players in the market have a firmer financial footing. The company has the funds to launch both projects, but the risks are doubly increased due to the enormous costs at the first stage and subsequently, which must be offset by high sales. If the company has relevant experience in the sports footwear market, then its products will be introduced to the hiking footwear market for the first time, which makes risk management the most responsible task.
The company is on the verge of a decision on two projects. The first of them is more challenging to implement, but it is planned that the company will be able to maintain growth, be able to win an audience from 12 to 18 years old among men, and fully recoup all the costs necessary for the project. The second project was not so long in implementation; however, according to Rodriguez, it is much more reliable in this situation. It is aimed at an older audience, is a new market for the company, will not affect sales of other shoes, and also does not require the construction of a factory. A more detailed analysis of these two situations requires financial analysis. Reputational and ethical discussions regarding these two projects concern the following.
By bringing in Kieran James as the face of the company for the new project, New Balance will have a strong personality, a professional athlete as an ambassador, much like Usain Bolt represents Puma. For the next six years, if Kieran James succeeds at the upcoming Olympics, he, along with the company, will gain many young fans. For the reputation of New Balance, this fact can be decisive in choosing the first project over the second. On the other hand, the Persistence project does not provide such reputational solutions, making it possible to enter a developing market sector with a quality product, where quality plays a decisive role. The second project will provide an opportunity to optimize the company's existing resources, while the first one will increase them.
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Table 1. Initial Financials for Sneakers 2013
Assumptions 2011 2012 2013 2014 2015 2016 2017 2018
Operating Assumptions
Lost Sales (Millions) 0 0 35 15 0 0 0 0
Pairs Sold (millions) 0 0 1,2 1,6 1,4 2,4 1,8 0,9
Category Growth Rate (billion) 74,5 75,8 77,2 78,6 80 81,4 82,9 84,4
Factory (millions) 150 0 3,9 7,5 7,05 6,75 6,45 6
Factory Depreciable percent 0 0 2,60% 5% 4,70% 4,50% 4,30% 4%
Equipment (millions) 20 0 4 6,4 3,8 2,4 2,2 1,2
Equipment Depreciable percent 0 0 20% 32% 19% 12% 11% 6%
Other Expenses 0 0 7 7 7 7 7 7
James Paid 0 0 2 2 2 3 2 2
Marketing 0 0 25 15 10 30 25 15
R&D 2 0 0 0 0 0 0 0
Interest cost 0 0 1,2 1,2 1,2 1,2 1,2 1,2
Variable Costs 55%
Tax Rate 40%
Discount Rate 11%
Table 1 reflects known information about this project. Based on this table, calculations were made of the most important indicators of the project's cash flow for each year of its implementation, as well as NPV and IRR indicators. NPV is a financial indicator that shows the expected future income of a project minus its initial cost. Simply put, NPV compares current money with future money that will cost less due to inflation (Arjunan, 2019). IRR, in turn, is a tool that calculates the discount rate at which the investor will receive back all investments; that is, it will go to zero, taking into account the time value of money (Arjunan, 2019). These indicators are vital in evaluating any project, as they can reflect its profitability in advance using the information provided.
The project's cash flow makes it possible to trace the profit and loss collected together, taking into account all expenses, taxes, and income. Table 2 presents the calculation data entered in a single table for ease of viewing. It should be noted that the first and last years are unprofitable for this project due to the relatively high cost of the initial investment. At the same time, NPV never goes negative, which gives this project an advantage, especially against the background of its reputational advantages. A positive rate of return, in turn, requires that the IRR be above 10-20% in order for the project to pay off. The IRR remains high enough according to these calculations that it can be concluded that this project is highly likely to pay off, even despite the possible profit from the sale of factories and equipment, which were not included in this calculation. The profit is 102 and 3 million respectively.
Table 2. Calculated Financials for Sneakers 2013
Sales 199948000 304606000 285152000 497040000 378936000 192546000
Gross Margin (0,4) 79979200 121842400 114060800 198816000 151574400 77018400
Cost of Goods Sold 119968800 182763600 171091200 298224000 227361600 115527600
Factory Expenses 150m 3900000 7500000 7050000 6750000 6450000 6000000
Equipment Expenses 20m 4000000 6400000 3800000 2400000 2200000 1200000
Marketing&R&D 2m 27000000 17000000 12000000 33000000 27000000 17000000
Other Expenses 7000000 7000000 7000000 7000000 7000000 7000000
Total Expenses (with interest cost/without taxes) 43100000 39100000 31050000 50350000 43850000 32400000
Operating Profit 36879200 82742400 83010800 148466000 107724400 44618400
Related taxes 14751680 33096960 33204320 59386400 43089760 17847360
Net profit after tax 22127520 49645440 49806480 89079600 64634640 26771040
Intial Investment 172m 28666666 28666666 28666666 28666666 28666666 28666666
Project Cash Flows -6539145 20978773 21139813 60412933 35967973 -1895626
NPV $ 649 515 $ 2 942 675 $ 2 956095 $6 228 855 $4 191 775 $ 1 036 475
IRR 34,6%
Table 3. Calculated Financials for Persistent
Sales 0 124200000 191520000 192780000
Gross Margin 124200000 191520000 192780000
Factory Expenses 0 1800000 1800000 1800000
Equipment Expenses 8000000 1600000 2560000 1520000
Marketing&R&D 0 3000000 2000000 2000000
Other Expenses 50000000 14904000 19152000 15422400
Total Expenses (with interest cost/without taxes) 21904000 26112000 21342400
Operating Profit 102296000 165408000 171437600
Related taxes 40918400 66163200 68575040
Net profit after tax 61377600 99244800 102862560
Intial Investment 58000000 19333333,33 19333333,33 19333333,33
Project Cash Flows 42044266,67 79911466,67 83529226,67
NPV $ 3 060 728,89 $ 5 585 208,89 $ 5 826 392,89
IRR 39.9%
Similar calculations were made for the Persistent shoe line in Table 3. Its advantages are that this production does not require the cost of purchasing a factory, the sector is more developing, there are fewer marketing costs, and the target audience is more solvent. The calculations were made for the same number of pair sales as for Sneakers 2013, considering the growing percentage of industry development. Here NPV is also positive and reaches high values by the second year and does not fall further. At the same time, the IRR is even higher, which makes both projects profitable at about the same level. Since the obtained values of the project's cash flow, as well as NPV and IRR, turned out to be approximately at the same level, it is also necessary to compare such indicators as inventory, accounts receivable, and accounts payable. However, according to the case, they will be fully restored by the end of the sixth and third years of the projects, respectively. In the case of the first project, the mentioned values will grow much faster, as they depend on variable costs, which are 17% higher than the same indicator for the second project.
Given the positive dynamics of these projects, it is worth considering an alternative in terms of financial indicators when two projects are being carried out simultaneously. To do this, it is needed to add up all the calculated costs and estimated income and calculate the dynamics of NPV, IRR, and project cash flow for both projects at once. This approach is attractive because the company will gain a celebrity for marketing purposes, improve its reputation and at the same time enter a new market for itself. Significantly increase the initial investment in both projects at once, which can significantly affect the company's overall financial performance, but the expected profit should fully cover these incomes. Table 4 provides a 6-year estimate for Sneakers 2013, based on a 3-year Persistence project – other sales figures have been taken based on market growth rates from years 3 to 6.
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Table 4. Two Projects Calculated Financials
Sales Persistance 124200000 191520000 192780000 194048289,5 195324923 196609955,3
Sales 0 199948000 304606000 285152000 497040000 378936000 192546000
Gross Margin (0,4) 204179200 313362400 306840800 392864289,5 346899323 273628355,3
Other Expenses 50m 21904000 26152000 22422400 22523863 22625993 22728796
Operating Profit 140975200 249950400 256208400 325646426,3 286079329 224155558,9
Related taxes 56390080 99980160 102483360 130258570,5 114431731 89662223,57
Net profit after tax 84585120 149970240 153725040 195387855,8 171647597 134493335,4
Project Cash Flows 46251786 111636906 115391706 157054522 133314264 96160002
NPV $ 5 451 537,78 $ 10 900 297,78 $ 11 213 197,78 $ 14 685 099,09 $ 12 706 744,23 $ 9 610 555,72
These calculations showed a much higher NPV but with a lower IRR. Interpreting the data, we can conclude that when working with two projects at once, certain risks increase: the company has a significant increase in receivables and payables, and it is also required to allocate 230 million instantly, which is an impressive amount for the company, given the expected turnover. Expected future income rises significantly and is no longer negative in either the first or last year, showing a positive growth trend up to a spike during the Olympics.
Based on financial indicators, one can conclude that these projects are profitable and liquid, all of which are positive to a certain extent. The following section will analyze the main pros and cons of each strategy, which are associated not only with financial indicators but with a focus on the possible calculated profit from them. Each of the three options should be considered for application by company management. The option of abandoning two projects is not considered, as the company risks losing the opportunity to develop increased assets and use current resources.
Financial quantitative analysis showed three possible alternatives for the company's development concerning project management. Either New Balance focuses on the Sneakers 2013 project, leaving Persistence out, or vice versa or both projects begin to develop simultaneously. Each of the possible alternatives carries certain limitations and risks, due to which a deep analysis is required to select the most suitable option for the company.
The launch of the Sneakers 2013 project is significant for the company in terms of reputation and market presence. This project has a more upfront cost than the second project, but it has a more elaborate marketing plan. New Balance will be partnering with Kirani James, a rising star in the running who has already won over fans and audiences by winning gold at the Olympics. Given the athlete's youth, the company can arrange fairly profitable cooperation. Kirani James has already become an idol for many of the younger generation, as he was able to achieve gold for a country that had never won such a pinnacle in the Olympics before.
In addition, the company implements the best technological developments for these sneakers, with a complete plan already in hand with the deployment of a factory in Vietnam and related equipment. The ultimate clarity of what was conceived is supported by calculating the number of pairs sold, taking into account all costs. Despite the high initial investment cost, the project promises to pay off and gives an excellent financial performance. Pricing is also an asset to this project, with competitors listing new tech designs for over $300 a pair at retail. New Balance can keep the price of $190, which opens up the opportunity to enter the markets of developing countries, where such an advertising campaign will be especially relevant.
However, the project looks more impressive than quantitative indicators showing apparent losses in the first and last years. The preliminary analysis of the project was much more complete, including the opinions of manufacturers, financiers, marketers, and other experts from various fields. Persistence does not have such a detailed analysis, which is the first and significant disadvantage of the second project. Sneaker 2013 has been worked out more closely, which makes its financials look more reliable, excluding various risks, except for a few. These include the weak performance of Kirani James at the 2016 Olympics, which may significantly reduce the attention to this athlete from fans, the media, and other professionals. There may also be low sales compared to competitors, with a possible significant drop in revenue due to lost sales of other sneaker lines. At the same time, the performance of Kirani James is beyond the control of New Balance, which is why they can manage this risk only by creating a contingency plan in case of poor sales.
By following through on the adoption of the Persistence project and dropping Sneaker 2013, the company will have a product line in a new market. The advantages are that this market is rapidly gaining momentum in sales, showing growth rates of tens of percent. It would be unforgivable for this company to miss such an opportunity. New Balance, however, has no sales experience in this particular area, forcing them to pay $50 million for the design technology and appearance of the shoe to an outside source. In fact, in this way, the company becomes dependent on a third-party carrier of this information. While New Balance will be responsible for the direct production of the footwear, the development complexity could create additional risks whose impact can only be assessed long after the project has been launched.
On the other hand, the company may increase the liquidity of spending on one of its factories where new shoes will be produced. The company will incur the costs regardless of the acceptance of the project, which will be visible with the initial investment in Sneaker 2013. Powering the factory, the company should spend only on new equipment, the experience with which will also be indispensable for New Balance as part of its entry into a new market. The target audience of this product is a relatively wide range of both men and women from 25 to 40 years old, which is the most solvent audience, in contrast to the audience of the Sneaker 2013 project. In this case, the presence of their real estate frees companies from the need to sell it, as in an alternative project. The NPV indicators, in this case, are much higher, as shown by quantitative analysis. Finances in this project move more reliably and do not predict all kinds of negative values in any of the years.
The shorter period of this campaign makes it possible to launch another project in the future based on the work done, focusing on sales from this project. Persistence is extremely promising in the long term to capture the hiking shoe market at an affordable price. However, it is currently poorly developed, in contrast to Sneaker 2013, which may result in risks and financial difficulties that were not considered in the initial superficial analysis. New Balance management is interested in the more reputable Sneaker 2013 project, which promises a big name for the product in the market instead of stable and quiet development in the hiking shoe market. Accordingly, marketing costs differ: in the case of Persistence, a separate model is not so important, but a possible choice and a wide range for the whole family. Good quality shoes will be bought in two, three, or four copies, as the target audience is young and active families. However, this alternative is unlikely to find supporters in its management, which may complicate its implementation.
The third alternative combines the pros and cons of each of the above options. The opportunity to partner with a young sports star and enter a promising market is a promising approach for New Balance, but the project's initial costs are greatly multiplied, especially when combined with risks. Companies need to spend almost $250 million in a one-time and instantaneous way, which is almost a tenth of their revenue (New Balance Financials, 2022). As a rule, these costs are too high for the company, given that not all of the proceeds are on hand that can be spent. The company's net revenue is relatively low due to the gross profit ratio, equal to a high figure of 40%. In this regard, financial risks now have a significant impact on the progress of this project. Although the financial performance has generally demonstrated high NPV values, it is still risky to choose this path.
At the same time, finances can be regulated by more extensive sales of Persistence, which offset the negative NPV from Sneaker 2013 in the first year. The company will gain a presence in an important market while remaining competitive in its core athletic footwear business. Perhaps this approach requires more thoughtful and lengthy analysis. However, New Balance benefits from this case much reputation, monetizing in other product lines. This alternative also offers a more profitable option for families: most often, the audience of 12-18 years old among men is the children of the Persistence target audience. The implementation of the project may require a higher share of borrowed funds than just the sum of the debts of both projects, which also introduces additional risks. Finally, this alternative for the next three years of performance evaluation will not allow the company to start new projects.
To make decisions, it is necessary to refer to theoretical concepts, particularly the SWOT model, which reflects the internal strengths and weaknesses of the company. The strengths lie in an affordable price compared to competitors, sponsorship of the world's most important sporting events, a century of development experience, and a focus on innovation and technology. The fundamental distinguishing feature from the competition is the price of New Balance sneakers: even a high-profile project like the Sneaker 2013 implies a relatively small price compared to the flagships on the market: 190 versus 315. At the same time, New Balance is poorly represented in emerging economies, where the Sneaker 2013 project, namely marketing involving Kirani James, would be the most relevant and inspiring. Finally, another weakness of the company is its low gross profit ratio, typical for the entire industry, and, as a result, limited growth potential.
The opportunity lies in the diversification of shoes into new sectors, especially the most promising ones, since the loss of time, in this case, is an opportunity for competitors. In addition, high brand awareness can be a driver of sales growth in markets in developing countries, as an affordable price compared to well-known market representatives can play a decisive role. Finally, focusing on technology will help keep the company competitive and offer future-proof solutions in the still-developing hiking shoe market.
The threats lie in the more technological solutions of competitors, who can receive more profitable corporate offers from sports clubs. In addition, New Balance's environmental responsibility is currently limited to the manufacture of boxes and products, with no more global and far-reaching goals. The reputation of a company that can be earned through hard work and cost during the Sneaker 2013 project could be significantly damaged by environmental issues. Therefore, from the possible alternatives, it is needed to choose the one that uses the majority of the strengths and capabilities of the company, leveling the weaknesses and preventing threats. The SWOT analysis of New Balance is shown in Figure 1.
Figure 1. New Balance SWOT-Analysis
Therefore, the most promising solution is to launch Sneaker 2013 and Persistence simultaneously due to the company's limited growth potential. If New Balance does not seize the opportunity to enter a new market now, revenue will be limited to about the rate of growth of the industry, and sooner or later, the company will reach a crisis, due to which it will lose the competition to the stronger Nike, Reebok, and Adidas. In parallel with this, it is necessary to develop its presence in emerging economies, emphasizing the need to use a marketing plan with Kirani James. Coupled with the affordable pricing of a diversified line of shoes, the company will have plenty of room to grow with its current competitiveness. Finally, in emerging economies, there are usually many more environmental or social issues that New Balance can address in order to improve its reputation in this area, eliminating one of the main threats to its business.
In this paper, we consider the case of New Balance, which is on the verge of two projects. As a result of financial and qualitative analysis, using the SWOT methodology, it was decided to launch both projects, despite all kinds of financial risks, due to its limited growth potential. New Balance has achieved worldwide recognition in over a hundred years of its activity. The new challenges are an opportunity to expand the business in an industry already heavily occupied by mass-market name brands, some of which have more powerful brands and higher sales than New Balance. The two projects provide an opportunity to significantly support its operations and give the company an impetus to develop in a new market. Financial indicators indicate high risks in case of failures; however, they show a positive trend with calculated sales. As a result, the company will be able to develop its financial activities in the long term improve its reputation and its presence in the market.
Arjunan, K. C. (2019). Non‐monotonic NPV Function Leads to Spurious NPV s and Multiple IRR Problems: A New Method that Resolves these Problems. Economic Papers: A journal of applied economics and policy, 38(1), 56-69. Web.
New Balance Financials. (2022). Web.
Our goal is to help you achieve yours. (n.d.) New Balance. Web.
Sustainability. (2022). New Balance. Web.
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