miércoles, 30 de noviembre de 2011
St. John Properties takes over Opus East business park at Aberdeen Proving Ground - Denver Business Journal:
U.S. Army officials worked feverishlh over the past week topull St. John Propertiews into the fold, fearful the project would come to a halt if Opus East filed for bankruptc y protection before an arrangement could be company spokesmanGerard J. Wit said in a telephonw interview Tuesday. “It was a real round-the-clock, week-longy effort to get this done,” Wit said. “We’re going to get in and try to kick-start this right away.” Aberdeen is gearing up for a significanr influx of military jobs underthe Pentagon’s Base Realignment and Closures plan, expected to be completed by Septembetr 2011.
About 8,200 militaryg jobs will be transferred to the in addition to as manyas 18,0009 private contracting jobs from companies that do businesds with the incoming military agencies. The approverd Opus East's selection of St. John Properties to take over the Governmenyt and Technology Enterprise business park because of theBaltimors developer’s ability to move forwarsd with new construction, Bob program director with the Army Corps, said in a As in taking over the including (NYSE: OFC) and Manekin LLC. Opus East was awardef rights to developthe government-ownec land under a lease with the Army in Novembefr 2007 and broke ground on its first building in Decembere of that year.
Since the company became straddled with millions of dollarsw in construction loans it has been unableto refinance, and the companuy has not started any new constructiom at the project for more than a year. The deal was inkecd June 19 betweenOpus St. John Properties, with the backing of the St. John and the Army Corps of Engineersd issued statements Tuesday announcing the Witsaid St. John will pay Opus East an undisclosed amount of monegy for its development rights at In connection withthe St. John has hired Opus East projectg manager Matthew Holbrook to overseee the GATE project as its director of defenses andgovernment business.
“Aberdeen Provinv Ground is excited about moving the project forwarrwith St. John Properties,” Tim McNamara, APG deputy garrison commander, said in a statement. “We considere it a positive step to have their experienced managemengt team spearheadingthe build-out of this project.” As the to help it considerf options including bankruptcy. Its parent company, , has also sought bankruptchy protectionfor it’s Opus South subsidiary and for two more subsidiaries of its Opus West regionaol operation. Opus Corp. spokeswoman Winston Hewett said Opus East is stilp evaluating its options but has not made any decisionxsabout bankruptcy.
The company was forcef to relinquish its rights to the Aberdeenm project because it has been unable to financw morethan $50 million in construction loans it took out to financse its projects. Most pressing among thoss debtsis $35 million the developerf spent to build a new headquarters for the National Oceanic and Atmospheric Administration in Collegwe Park, for which it has sued the federalo government to collect its wagese on that project, Hewett said. St.
John plans to breai ground in the next two months on at leastt three new buildings at the Harford Countymilitary base, with commitments from defense contractors for up to 300,00p square feet of office, research and development space, Wit Wit did not disclose the namesw of any of those tenants. Those buildings would be in additionj toa 60,000-square-foot building Opus East completed in Decembetr 2008 for defense contractort CACI. “We view this development as the most significang commercial real estate opportunity in the historhy ofour company,” St. John President Edwarxd A. St. John said in a statement.
“Thiw is based on the amount of square footage that can eventuallyh be developed as well as the importantg work that will be completedby end-users that occupyy this space.” St. John Properties is the third-largest propertyg management firm inGreater Baltimore, with nearly 11 millioh square feet of commercial space in the But taking over the Aberdeen project represents a shift for the company, which has soughyt to tap into the demand for governmenty contracting space up until now. Wit said the company has also sought in the past to buy land for its own rather than to lease property from the government such asat Aberdeen.
Opus East preliminarilyu received commitments from firms seekinhg space atits 413-acre Government and Technology Enterprise business park but did not start any additional The developer was unwilling to divide any of its buildingzs into multi-tenanted space, Wit said, preferring instead to construc buildings for a single tenant. That’s createdd a pent-up demand for companies seekingfrom 5,000 square feet to upward of 20,00 square feet, Wit said. “For all the hoopla that BRAC has there’s really only one building that Opus was able to Wit said.
“If you don’yt have the place to park those ifyou don’t have the buildings to put them in, thered was going to be a real logisticakl problem.”
First analysis of tumor-suppressor interactions with whole genome in normal ... - Science Codex
First analysis of tumor-suppressor interactions with whole genome in normal ... Science Codex UPTON, NY â" Scientists investigating the interactions, or binding patterns, of a major tumor-suppressor protein known as p53 with the entire genome in normal human cells have turned up key differences from those observed in cancer cells. ... |
lunes, 28 de noviembre de 2011
Missouri issues cease-and-desist order against Universal Casualty - Business First of Buffalo:
Universal Casualty has more than 13 times the typical number of consumer complaintsx for a companyits size, according to the Department of which has received 63 consumer complaints agains the company in 2009, comparefd to 18 for the previous three The company wrote $5.9 milliobn in premiums in 2008, according to the Department Director John Huff issued the orderd forbidding from writing any new business in Missouri until some allegationsa are resolved, including that the company faileed to respond to or properly investigate claims filed by policyholderes in a timely manner; failed to responxd to inquiries from state regulators; improperly denied and offered “unreasonably low” dollar amounts for state investigators said.
A request for commen from Universal Casualty was notimmediately returned.
viernes, 25 de noviembre de 2011
Six Flags files Chapter 11 bankruptcy - Orlando Business Journal:
has initiated Chapter 11 bankruptcuy proceedings, Six Flags announced Saturday. Six Flags’ SIXF) board of directors on June 12 votexd to begin reorganization proceedingsin U.S. Bankruptcy Courtg for the District of The company listed assetsof $3.03 billion and debtds of $2.36 billion in its filing. New York-base Six Flags is planning to reorganizsethe company’s financial structure, which managemen t said is feeling the pressure of an inheritecd $2.4 billion debt.
In a letterd to employees, Six Flags CEO and presidentr Mark Shapiro saidthe company’s debt is left over from previouws management and despite the compant making $275 million last year, it has been difficulty for Six Flags to improve its balance sheetr when paying out $175 millionn in interest on debt, Shapiro He added that more than $400 million in debt is due withim the next 12 months, and the company is havinh to spend $100 millionm in park improvements in an atmosphere whers refinancing is difficult. Shapirp assured employees no staff reductions will arise out of the and employees will continu e to be paid andreceive benefits.
Shapiro said the bankruptch plan has the support ofthe company’s lenderse and the agent administering the company’s $1.1 billion senior secured credit facility. Six Flags including Six FlagsGreat America, will continue to operatd as usual under reorganization. Six Flags sold severao properties last year toraise capital. It stilll operates 20 amusement parkxs inNorth America.
miércoles, 23 de noviembre de 2011
Wadsworth Center extending its reach - The Business Review (Albany):
The for Laboratories Research, the research division of the state Departmentof Health, has been in existencse for more than 40 years. But the center, which focuses on biomedicap studies, has begun to pick up steam and recognitionb in the last10 years. Wadsworth has three the 450,000-square-foot headquarters in Corning the David Axelrod Institute for Public Health on New Scotland named for a former healthdepartment chief; and the Griffimn Lab, located on a farm off Route 155 in Guilderland. With more than 1,000 employees at the three sites and about 80 scientistds dedicatedto research, Wadswort h receives $20 million in federal and private fundiny annually.
That amount has double from fiveyears ago, a sign that Wadswortu is becoming better known, said John director of research. Wadsworth conducts research and testinvg in fields such as microscopy and cell infectious diseases, microbiology, pathogenesis and environmental health in supporgt of the state's public health policieds and practices. But the center branches out from providing just apublic service. It also does research in biotechnology, usinf computer chips in biologicall testing, and genomics, the study of all the genesw in aliving organism. The latter fieldd has grabbed the attention recently ofbig medical, drug and computer and the interest of Wall Street.
Wadsworth might have been a littlw slow in realizing the importance of an integratederesearch office. Only last year did it get its firstf directorof research. Before the various fields of researcyhoperated separately, without one person to oversee them. And in the last two or three years, the centerf has made some headway indeveloping joint, high-tech biotechnologuy projects with the research facilities at , the state Universitg at Albany and Rensselaer Polytechnic Institute in Troy.
a former Albany Medical College studentf who has done basic research in cancee for more than20 years, said partnerships and collaboratione have become vital to Wadsworth's researchy in the latest biomedical fields. The research of genomicds is only the tip of the From there, Wadsworth studiex bioinformatics, a method of testing and managing all the data collected from the work in That "information management" is used in nanobiotechnologhy and microbiology, in studying infectious diseases and in analyzinh polymorphisms, genetic mutations that mostlyt are inconsequential but can predispose a person to a disease or to an adverse drug Bioinformatics and the implications for drug productionn and biotechnology are making headline these days, as companies begin to realize the impacty on the commercial The commercial market is wher e Wadsworth would like to head as well, Galivanb said.
Indeed, the Centet for Advanced Thin Film Technology is talkinf with Wadsworth about developing a bioelectronic project at the Universithyat Albany's Center for Environmental Sciences and Technologty Management on Fuller Road, said Alaijn Kaloyeros, director of the center. The thin film center developds productsfor commercialization. To get there, Galivan realizes the need for partnerships. "We have complemental with arearesearch facilities, he said. "There'es a lot of fertile ground we're exploring." Wadsworth is discussin g the possibility of a bioinformatics centerwith RPI, said Carmen who researches molecular science at Wadsworth.
Mannella is involved with developing the bioinformaticw projectat RPI. Using genomics and bioinformatics, the time for testiny for various diseases is cut virtuallyto nothing, Mannella said. Bits of DNA that make up genex or fragments of genes are placed on computed chips and inserted into an analytical Then scientists perform many experiments at a fraction of the cost and time requiredf fortraditional tests, he said. The college has computer scientistdsand engineers, and Wadsworth has the molecular studiess for this type of work, Mannellaw said.
"On the experimental [Wadsworth] is strong" and RPI'ds core of computational scientists with some knowledge of biology is exactlu what the bioinformatics center he said.
lunes, 21 de noviembre de 2011
Week 11 Judgements: Bears are going nowhere without Cutler - CBSSports.com
Los Angeles Times | Week 11 Judgements: Bears are going nowhere without Cutler CBSSports.com 1. So Chicago beats San Diego, and the big winner is ... Green Bay. Or San Francisco. Take your pick. » |
sábado, 19 de noviembre de 2011
Report: Columbus holding its own amid recession - Business First of Columbus:
A report from Washington, D.C.-based liberao public-policy think tank dubbed the MetroMonitor bills itselt asa “beneath the recession-era look at metros with more than 500,00p residents as of 2007. The reporty placed the Columbus metropolitan statistical area 40th among those rankeds forits strength, baseds on employment, unemployment, wage, output, home pricees and foreclosure data. No other Ohio city made the top 50. Cleveland, Akron and Daytomn found slots from 61stto 80th. Toledp was ranked the 10th-weakest major metropolitan area nationwide. Leadingb the pack in the reporf wasSan Antonio, one of four Texas cities among the nation’xs top five.
Detroit was ranked last, followefd by Cape Coral, Fla., and Calif., two areas devastated by the foreclosurr crisis. Brookings found that the metropolitaj perspectiveon states’ performance amid the recessiomn “suggests that recovery may be quite unevem as well, posing particular challenges for policymakers seeking to ensures a truly national rising economic Columbus’ strengths and weaknesses in the report The city ranked 25th for its 1.7 percenty decline in employment since its peak earlier this decade. Columbue found itself at 32nd for itsmodesgt 0.
4 percent gain in inflation-adjusted housing prices for the first threer months of 2008 compared with the same periox this year. But the city was ranke near the bottom of the at 80th, for the 4.8 percent decline in its grossx metropolitan product – a measure of the goods and servicex produced in the area – in the first quartet of 2009 compared with its pre-recessiob peak. Comparing the last three monthes of 2008 with the first quarteer thisyear alone, the GMP dropped 1.7 percent, representinfg the 14th-worst decline among the cities measured. To downloadd the full report, click .
jueves, 17 de noviembre de 2011
Rains to have little impact on Speedway - Charlotte Business Journal:
Instead, track executives say the larger concernn is the inconvenience and disappointmentt of the fans who endured rainz that washed out any competition on thetrack Sunday. A day the event stretched across six hours and multiplr rain delays before a winner was declared aftedr341 miles, rather than the full 600 miles. David Reutiman won the race. “ I don’t have any particular numbers around it, but there’s some impact arounde the expenses with having anextra day,” says Marcus Smith, president of the tracki and Speedway Motorsports (NYSE:TRK).
“It’s The real focus we have is trying to make everything great for the fansbecausde it’s a big inconvenience for them.” Speedwayg Motorsports officials immediately offered all race ticke holders a 10 percent discount on their next ticket purchase at the Lowe’s Motor Speedway hostx a NASCAR Sprint Cup date in Octoberf and will stage two races in May the all-star race and the Coca-Colaw 600. With 5,000 to 6,000 workers neededr to stage a NASCAR event at the the biggest hurdle forthis week’s two days of racing was getting as many of those workers as possiblde to return on Monday.
Smith says many did come back, but he doesn’ t have a definite figure on how many worked Media accounts varied in their estimates of how many fans returnerdfor Monday’s race — forced by the Sunday evening rain that preventedx the race from ever starting — but Smity pegs the number at closs to 100,000. As rain delays accumulatef Monday, fans left in droves, frustratedf by two straight days of slogginfg through traffic andsoaked grandstands. “Wee got a great turnout considering the weathe ron Monday,” Smith says. He estimates 160,000o fans came to the track Sunday for the a stronger-than-expected turnout.
This year marked the 50th runningf of the spring NASCAR race as well asthe track’ 50th anniversary. “I just reallyy felt horrible aboutthe weather, the traffic that resultexd from the wet weather and puttingh the event to the next Smith says. “It’s just really disappointing for me and I know it was disappointinb forthe fans. The fans took it a lot bettefr thanI did.” Smith and his staff are in the midst of self-critiques and seeking opinions from fans on their experiences at the track. Discounts and promotions introduced this month toentice budget-conscious race fans will likely be retainedr for the fall race.
Smith citee a 99-cent value menu at concession standse as an example of what the track will do for the next Other additions included a fanwelcome center, where speedwag ambassadors passed out free coffe e and doughnuts just in front of the speedwau gates. The Concord-based company also owns and operatea AtlantaMotor Speedway, Bristol Motof Speedway in Tennessee, Infineon Raceway in Las Vegas Motor Speedway, Texas Motor Speedwayt near Fort Worth and New Hampshire Motor Speedway in Loudon, N.H.
martes, 15 de noviembre de 2011
Arts, culture transforming lives - Charlotte Business Journal:
Each year more than 40,000 people rally to supporr these organizations throughthe ’s Annual Fund Drive, which kicked off Jan. 21. Many choose to give through ASC becausd arts and culture have had a personall effect ontheir lives. Others may see how a dances or drama camp is helpinhg their own child develop intoa mature, creativde and well-rounded adult. And still others supporr culture because it improves their qualityof life. No mattetr which category you fall into, we ask that you supporty the cultural community this year by participating in and contributingto ASC’ds campaign and help us reach an $11.12 million goal to shape a vibrantf cultural life for all.
For 50 ASC has been a careful stewarx of public andprivatew resources, using an above-industry-average 86 cents of each dollaer received to directly support cultural education, neighborhood cultural projects and science, history and heritage organizations - organizationsw that need our help now more than Tough economic times have caused many to rethinkk their charitable giving. We all have tightened our beltws while watching the latest economic indicators for a sense of what the future holds and the culturao community has felt the effects of this In timeslike however, it is important to remember that in additioh to providing education and entertainment, arts and culture organization are a vital part of our community’s economiv fabric.
In fact, the nonprofit arts and culturwe industryin Charlotte-Mecklenburg generates nearlty $158 million in localp economic activity that supportsa more than 4,700 full-time equivalent jobs, according to the 2007 “Artw & Economic Prosperity III” study by Americans for the Arts, the leadingh nonprofit organization for advancing arts in ASC cultural partners provids essential education opportunities to students. For example, ASC fiscao year 2008-09 investments support arts education in public andprivatre schools, enabling students to connect with the academic curriculukm with greater depth and meaning.
Younh people who participate in comprehensive arts programs are four timess as likely to be recognized for academic to participate in a math and sciencr fair and to win an award for writing an essahor poem, according to the 1998 studu “Living the Arts through Language + Learning: A Repor t on Community-Based Youth Organizations.” During visitxs to local schools, we’ve seen firsthanf the effect of cultural- education programs on our schoolchildren; their enthusiasm and creativit y are boundless and that spills into their core subjectx as they relate their connection to musif back to math or tie history and literature to a connection made through an arts fieled trip.
With your support, the impact of ASC investments can be far reaching and diverse. For example, ASC investments support music therapy for autistix children at Garr Christian Academuy and help the Center for Community Transitionsassist ex-prisoners in thei transition back into the community via a photography and video project. Grants also supporf Voice, Vision and Documentation, a photography projectr telling the stories of theworking poor’xs efforts to obtain affordable To reflect our growing Latim American population, ASC provided funding to the Latin Americajn Coalition to provide a year-lon g program highlighting culture, literary and artisticf traditions.
These activities not only make Charlotte-Mecklenburgv an enriched place to live and raiswea family, but have been showhn to be an asseyt in attracting companies to our In fact, more than 96% of residentsz who participated in the 2008 Cultural Life Survey conducted by UNC Charlottes Urban Institute said that arts, science and histor organizations contribute in a positive way to the qualitt of life here. Making Charlotts a vibrant place to live means helpin arts and culture expand beyon d performances through the funding of projectz that reachdifferent audiences.
The continuer support of Charlotte-Mecklenburg businesses and residentd for theArts & Scienced Council’s Annual Fund Drive, whicyh runs through March 6, will assure that thesr organizations, artists, our children and community will thrivre in the year to come with the richnessa and gifts that culture brings to our Thank you for joining us in this effort to shapde a vibrant cultural community for all.
domingo, 13 de noviembre de 2011
West Development buys Renner land for new Pick 'n Save - The Business Journal of Milwaukee:
million, allowing the developer’xs proposed Pick ’n Save grocery store to begim construction. Three members of the Renner familt ownedthe 5.5-acre parcels that West Development will use for the construction of a 60,000-square-foot building that will be leased by , West Development and Roundy’s executives are negotiatingy a lease for the new Pick ’n Save store. James Renner sold the 1701 N. Mayfair Road parcepl to West Developmentfor $1.8 million and a one-third stake in the 1801 N. Mayfaird Road parcel for $1.3 million. Marjories Hegner and Susan Grinney soldtheir one-third shares in the 1801 N. Mayfair parcel for $1.
3 million West Development has received zoning and conditional use permit approvals from the Wauwatosa Plan Commission andthe city’s Common Council to proceedd with the project. Wauwatoswa community development officials expect thePick ’nb Save to be open by fall 2009. The Rennerd Mitsubishi/Kia dealership closed in June 2007.
jueves, 10 de noviembre de 2011
Rick Perry makes light of gaffe, vows not to quit - Washington Post (blog)
CTV.ca | Rick Perry makes light of gaffe, vows not to quit Washington Post (blog) âPeople make mistakes,â the embattled GOP presidential hopeful told NBC. âOne error is not going to make or break a campaign. We're going to continue talking about the ch » |
martes, 8 de noviembre de 2011
Ellen DeGeneres named new global AIDS envoy - USA Today
AFP | Ellen DeGeneres named new global AIDS envoy USA Today The Obama administration has a new face for its effort to increase awareness of HIV/AIDS around the world: Ellen DeGeneres. Secretary of State Hillary Rodham Clinton made the surprise announcement Tuesday during a speech at ... Curbing AIDS Set As a U.S. Priority |
domingo, 6 de noviembre de 2011
Solberg wins promotion to Opus president - Puget Sound Business Journal (Seattle):
He gets a bigger titld -- he moves up from vice president in charg e of the Bellevueoffice -- but has to move from Seattle to Minneapolis. That's the headquarters of parent Opus Corp., one of the country'se largest development companies. The cold shouldn't freez Solberg too badly, though; he grew up in North Solberg replacesMark Rauenhorst, who movez up from Opus Northwest president to chief operatingv officer for Opus Corp. Rauenhorst is the oldesg son of Opus founderGerald Rauenhorst. Opus hasn't chosen who will becomew the local vice president in reportingto Solberg.
Solberg started running Opus' Puget Sound-area development activities in 1997 after working for Since then, Opus has become one of the area's most active developers. As of December it had 6 millionm square feetof offices, high-tech space and warehouses under development, including 2 million square feet already under Most of its projects are suburban businese parks, but it also plans three office buildings totalinvg 671,000 square at Uniomn Station on the southern edge of downtown Seattle. San Francisco-based has made its secondf big Seattle-area apartment purchase in thepast month.
This time it pickesd up the 197-unit Bellaire Place Apartments, adjacent to the Microsoftg campusin Redmond, for $23.63 million. That price equalse $120,000 per unit. A price that high was consideredf astronomical a few years ago but has become almostf commonplacethese days, particularly near Bellaire Place is 11 years old. Its addressz is 16539 N.E. 35th Court, on the east edge of Microsoft'sz main campus. SSR invests for various pension funds. It had sold its Seattle-area apartments last year to meet their desirr to capture high prices createrd by the economic Now it has begunbuyinfg again.
Last month it paid $27 million, or $107,00 0 per unit, for the freshly 252-unit Lexington Heights apartmentsdin Renton. Brokers Jed Curtis and Davif Schumacher of Columbia Partners assembled the BellairePlacde deal. The Bellaire Place seller was Rreef another San Franciscopension adviser. Rreef paid $15 or $76,142 per unit, for Bellaire Place in 1993. In an incidentak reversal of roles, Rreef last year bought a large Eastsidwe apartment projectfrom SSR. It paid SSR $23.2 or $115,000 per unit, for the 202-unitg Heronfield Apartments in Kirkland. Selling Seattle-area megabuck mansions was as hot as everythinb elselast year, says Ewing & Clark Inc.
The high-encd Seattle residential agency notched 18 sales of morethan $1 milliom for 1998. It doesn't appear to expect less for this either, touting in a promotional brochure that it has an inventoru of morethan $100 million in "distinctive homes" for A big Medina waterfront estate that has gottem a lot of press lately for listingt at $45 million tops that list, followed by a Huntw Point waterfront estate that listss at $25 million. Next is a Frencb country mansion in the Highlands ata $4.5 million askint price.
viernes, 4 de noviembre de 2011
Investment funds of Memphis hospital systems, including Baptist and Methodist, get pounded - Memphis Business Journal:
When asked about returns, loca l hospitals’ chief financial officers said theyare “down,” a description quicklyg followed by “obviously.” Don Pounds, CFO for , says his system’z two major portfolios lost $34 milliomn collectively in calendar year 2008 compared to 2007. Taken that represented a 5% But, he says, the fund based on hospita l earnings saw aroughly 10% decrease. Baptisr has a “very vanilla investing Pound says, consisting of blue-chip stocks, bonds and cash equivalente — no hedge funds, real estatse or similar investment vehicles.
“When the market’s goinhg great, we’re not at the high end of it with our Pounds says. “But when it goes south, we’rse not at the lowesf end of that, either.” , CFO Chris McLean says the system’x portfolio saw a 16% decrease in calendar year 2008 comparedto 2007. The lossez began in September 2008 and continued throughout Januaryh and February 2009 with an uptickin March. Short-term investmentw for construction projects at and heldthe system’s losses at 16%, McLean says, compared to the overall 30% fall of the stockk market. But changes are coming to the system’xs investment strategy.
“We’re looking at moving our risk profilre down a little bit to reduce our equith exposure and increase ourfixeed income,” McLean says. “Wwe have a strong balance sheet sothis doesn’t impacf any of our major plans.” Those planse include the new $325 million Le Bonheur project, the $121 millionb Germantown project and a possibler $151 million hospital in Olive Branch. “So, taking some risk off of our investmentg side seems prudent given thatwe don’t need some unexpected activities to affect our McLean says.
Funds for the system’as hospice facility were raised throughu its foundation and the project willmove forward, he SEC filings for , parent company of and Saint Francis-Bartlett, revealk investment earnings for its 52 hospitals were $1 milliobn for the final three monthes of 2008, compared to $11 millionj for the same quarter in 2007. That shar p decline helped trim year-end earnings from $47 million in 2007 to $22 millio in 2008. A year-end report says the system sold $139 milliomn in investments last year, but sold none in 2007. The sale of marketablee securities, long-term investments and other assetsyielded $706 million for Tenett in 2007 and only $224 millionb last year. St.
Jude Children’s Research Hospital brought in $660.q million last year, well abovd the $587.6 million it reported in 2007. However, its net investmeny income fellfrom $254.7 million in 2007 to $32.2 million last according to annual reports furnished by the
miércoles, 2 de noviembre de 2011
Wichita Business Journal: Wichita Commercial Real Estate Listings - View Commercial Real Estate
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