the word value has become a cliche. you know, who isn't a value manager. so we have kind of backed off from that word. of course, we think we're a value manager. but in fact from an operating standpoint, we believe 're a risk manager. we want to look at the risk of the portfolio as a whole, we want to look at the risk of the enterprise we're looking at. we want to look at their strategy risk, we want to understand their business model. and how it all plays out in their niche. we want to look at the balance sheet. if we had to pick any one of those things, it would be balance sheet risk. we want to take away that as the incremental kind of wild card. so we want to have very strong balance sheets, and we all of our portfolios have a balance sheets that are much stronger than average. >> why is a strong balance sheet so important at this particular point in time? >> these are younger companies, they're smaller companies, they're by definition more fragile, and you don't want to compound the exogenous kinds of activity that go on in their world with balancing

and sometimes surprising value. sort of a difference of, in difficult budgetary times, what is the value of continued funding or increased funding, what's -- and that can be different from perceptional little from non-experts, what's the incremental cost effectiveness of doing more and incremental little reducing transmissions versus the value of eliminating hiv-amds for a whole generation. on a normal person level, those are very different arguments and those are very different justifications for, you know, budgetary improvement, even. higher bar, maybe. along those lines, when i came back from overseas and came back into the domestic epidemic i found that there was a real range of people being engaged. people who thought hiv-aids, you still couldn't do anything about it, particularly in the developing world, it was just futile. so, every dollar spent is futile. or people who thought, we've done it all, everybody's great, there's not a problem. so why bother to spend more. similarly, i think, we get caught in, righ

in the european union of 2003, these values are openly rejected. a common democratic socialism quietly snuffs out remaining pockets of traditional european family life. one consequence of this postfamily environment there is the accelentent. while a cultural offchute of europe's, america has always been different. even in the degraded times of the early 21st century, americans talk of marriages, babies, mothers, fathers, husbands and wives in ways that make sift kasophisticated europeans cringe. these are american concerns which do not concern us, a swed when asked a few years ago about his country's marriage rates. indeed, these are with some unnecessary accretions, the qualities that i cited above once served as the american way. they should and they can again. thank you. >> thank you very much, allan. and we do have time to take a little -- take a few questions from the audience if there is anyone who would like to make a question. please stand and identify yourself if you have a question. yes. >> you got a microphone there. aimed right at you.

you know what, i'm happy to have a values debate. i'm happy to have a debate about values.nk about the values my mother and grandparents taught me, hard work, that is a value. looking out for one another, that's a value. i am my procedubrother's keeper my sister's keeper, that is a value. each of us is only here because somebody somewhere was looking out for us. it started in the family, but it wasn't just the immediate family. there was somebody in church, there was somebody in the neighborhood, there was the coach of the little league. there was somebody who made an investment in our country's future. our story has never been about what we can do alone it's what we can do together. we don't win the race for new jobs and middle class security and new businesses with "you are on your own" economics it does not work. it didn't work on the decade before the great depression, it did not work in the decade before i took office. it won't work now. this is about who we are as a country. the opportunities we've always, always passed on to future generations. when i think about mic

i don't know if dumpster diving and eating food from the dumpster has made me value food more or value food less because it's easier now to throw a few away because we have so much of it and so part of me i think that i'm valuing the food as. you can all. live our role. model. i know i don't want to waste my time with. i'll always be there. now the. you. can hear the plan i think that's what i'm talking about. you need for lunch. good luck no you. don't waste it yet you did. you. so it's a day new year's eve and i'm working on a little plan i got the idea on christmas eve when i went dumpster diving so tomorrow is christmas the twenty fifth they've thrown this away two days early because the stores closed tomorrow there's hundreds of dollars of me here kinds of bread tons of salad why wouldn't they at least attempt to give this food to the food banks the stores are all closed tomorrow too so tonight they'll be twice as much food again the plan was really ingenious my son scout actually thought. i would try going through the front door instead of scavenging through dumpsters i just talk

we value the earth. we value all that it produces. if we lost our connection creation. do we see its beauty. its fragility. do we care for it. for all that comes from it. do we nurture it. appreciate it. has it become just another product for us to consume. just finished some potato league soup made from greetings from the dumpster. and some eggs from the dumpster. i don't know if it comes to diving and eating food from the dumpster has made me value food more or value food less because it's easier now to throw food away because we have so much of it and so part of me says i think that i'm colleen the food that's. all already. there are all. mine. i know i don't want to waste my time with you i don't either. now. you. come here for class i do let's not talk about. it for lunch. during my last night you. don't waste it you gotta eat it. so today is new year's eve and i'm working on a little plan i got the idea on christmas eve when i went dumpster diving so tomorrow is christmas the twenty fifth they've thrown this away two days early because the stores closed tomorrow t

that read bar moves up or down based on the excess of value. early in our days we were looking at a 4.5% growth in value every year. the past two years we have seen that taper off dramatically because of the recession. and now the estimates forc fiscl year 13 -- a goes to 3% for two years and back up to 4.5% after fiscal year 16 to the end of the plan. supervisor chu: in terms of the commitment, we have gone out to say we are issuing a certain deal bonds -- geobonds. it does not represent rates that we pay back in the day. we're holding this line to make sure people feel comfortable with the tax obligation we're faced with. we talked about the assessed value of the property. the market the u.n. has changed. similar to that, we have seen very good market sales at rates that have been historically lower than the historical lows and that has been good but it might be a momentary blip. how does the capital plan accommodate for this? do we assume an average, assuming potentially a onetime thing? >> do you want to answer that? go ahead. >> good after

and religious values what happened to american values american values like k.b.'s corpus trial with jury not spying on citizens an invasion of privacy. or those american values. that some of the american values that we haven't seen as punishing those who commit fraud upon millions the banks there's not a single bank stress gone to jail so what is the political platform this year is it going to be religious values family values or american values thanks fratta. it's thanks for your call it's going to be really interesting to see how this plays out over the course of the next year and into the election and frankly i think it's going to be even more. with you and doubting we're going to see much of this in the campaign frankly i think therefore it's going to be even more interesting to see if president obama is reelected if he gets a democratic house and senate will he start going after these banks troops will and is there any possibility that anybody and frankly i think is going to be a court in spain if it happens but the anybody goes after george w. bush for his w

it is not a departure from our laws and our values. this administration and for this nation, our values are clear. we must always look to them for answers when we face difficult questions, like the ones i have discussed today. as president obama reminded us at the national archives, our constitution has endorsed for civil rights, world war, and cold war. because it provides a foundation of principles that can be applied pragmatically. it provides a compass that can help us find our way. our most sacred principles and values of security, justice, and liberty for all citizens must continue to unite us, to guide us, and to help us build a future that honors our founding document and advances are ongoing in pursuit of a safer and more perfect union. in the continuing effort to keep our people secure, his administration remains true to those values that inspired our nation's founding and over the course of two centuries, has made america an example of strength and a beacon of justice for all of the world. this is our pledge. thank you for i

when a bmw leaves the port of hamburg, the company gets a 17% of value rebate. it hits no tariff when it hits america. when we ship a cadillac to germany, it has a 17% tax imposed upon it. germany is doing border adjustability. we are not. we are getting to ourselves -- i don't know -- the word isn't coming to mind. but you know what i'm talking about. we're doing it to ourselves. let me put it that way. there we go. whew. got out of that one. you know, this is a self-inflicted wound. the chinese are doing it, too. the politicians talk about territoriality. higher taxes on things being done in america. when we should be talking about border adjustability. and we're not. very simple. i hope i didn't go too jargony. just think what those words mean and listen to the politicians when they say it. >> we have a few minutes for questions. i'll give you a minute to stand out there. the microphone's over there and over there if you want to stand up if you have a question. while we're getting the questions ready, you -- you referred briefly to the activities of the fed a

decline, while home values are falling, a lot of markets home values are falling a lot, rents are rising showing a market where represents are fa s ars s are rising. >> thank you. >>> look at the major apartment rates while on the topic. avalon bay up today by about 1%. equity residential also moving higher with udi gaining by just over 1%. >>> let's check out the markets for you and take a look. of course, mixed all day the nasdaq dragging its fee. s a p not done anything, light volume, tight trading range at the start of the week. the s & p flat lining there. looks as if there is marginally more decliners than advancers. equifacts is the biggest gainer, 3.5% to the upside. >>> the battle of the big screens, find out who is laying claim to that title. oh! [ baby crying ] ♪ what started as a whisper ♪ every day, millions of people choose to do the right thing. ♪ slowly turned to a scream ♪ there's an insurance company that does that, too. liberty mutual insurance. responsibility. what's your policy? ♪ amen, omen introducing gold choice. the freedom you can only get from hertz to keep the

our children have no more values, common values. i think that if you're playing a sport, you learn to play in commonment you learn to lose. you learn to win together. and this is great to train you and to prepare you for a professional life. i think it's a basic training that children will cherish the rest of their life. th of course, this goes back to independent workers. i think we germans, we are too theoretical. you're independent. you have the school. you have the rules. i think there could be an infinite number of combinations. you're saying that the schools should teach more so that we don't give the entire responsibility to the parents. what about the young people there? this gentleman looked at his neighbor. his neighbor must be his boss, right? i'm 58 and i'm head of the savings bank. i heard all the wishes. but i think people should think about the budget, the state budget. because, of course, without money, nothing works. everything must be financed. and i think that we should also when we talk about politics and we talk

to go more global, it is about valuing the work of people of color. that is why these classifications years ago had a raise. we had a comparative for the study and found those positions were underfunded because the were primarily women and people of color. 80% to 90% women and people of color. the value of their work, because of sexism and racism, is considered lower. those wages were increased. we were sorry to see the decrees and fought vigorously against that, as some of you may know. we are pleased this wrong was addressed before. we are pleased it is being addressed again. thank you very much. chairperson farrell: thank you. any other members of the public that wish to speak? seeing none, a public comment is closed. colleagues, any comments? entertain a motion. a motion to send this forward with recommendations to the full board. can we take that without rep -- without objection? so moved. >> there are no further items. chairperson farrell: meeting adjourned. there are so many ways that the internet provides real access to real people and resourc

going to be renewed focus on this underlying value.hen tyco splits into separate companies, you have the security business and fire business and they have a great underlying growth story but both companies are strong acquisition targets. we think tyco can move up into $70 range as it moves into the split. >> what do you think about the trade? >> i think murphy makes a great point. the stock being a value play, it's been there. we continue to own it for some of our clients. we'll move it as stock moves higher. that $70 price target is probably about right in terms of unlocking all of the value in the company. this is a nice company to add to a value blend type investment strategy to your portfolio. >> there you go. thanks for calling in with the trade. >>> chinese economy is slowing down but are we in for a soft or hard landing? we have brian kelly on one side and steve cortez on the other. i'll give you the first word. at least today's performance of what's happening in the chinese stock market would line up with your way of thinking.

the principle of necessityt hav definite military value. the principle of distinction requires that only lawful targets such as combatants, civilians directly participating in hostilities and military objectives may be targeted intentionally. under the principle of anticipated collateral damage must not be excessive in relation to the anticipated military advantage. finally, the principle of humanity requires us to use weapons that will not inflict unnecessary suffering. these principles do not forbid the use of stealth or technologically advanced weapons. in fact, the use of advanced weapons may help to ensure that the best intelligence is available for planning and carrying out operations, that the risk of civilian casualties can be minimized or avoided altogether. some have argued ha the president is required to get permission from a federal court before taking action against a united states citizen who is a senior operational leader of al qaeda or associated forces. this is simply not accurate. due process and judicial process are not o

the value decline with the value he bought offsetting the loss. losing is never fun, but when you risk less, you lose less. that said, what are you doing on this one? >> i meat my decision and sticking with this here. i lost half the value and the stock is trading where it was almost a month ago when i put the trade on. we have earnings that will come and start in about a week and a half. what my bet is that maybe you get out unchanged, barring news just because a lot of tech stocks have gone too far too fast. the q1 report whether they are good or bad or whatever, the real risk to me is the guidance for the balance of the year and if we see hiccups, the stocks will. >> they haven't begun to reap the benefits. >> assuming there potential benefits. >> by all indications or many at this point it seems to be a winner. >> that seems to be a theam that we hear about. always a solution for the hurdles and shortcomings they have been facing in the past. i take a look at a company like google and it will be interesting from my perspective. it's tough at t

this is value territory in the extreme sense. i would be curious to ask if he sees a lot of the flow. this is no longer a name that they feel that comfortable holding. it's a broken stock and you have a different player. probably more hedge funds than you see large players at the levels. >> it is. if they are in a hunt for yield as they are looking for, they don't rush into this. they are moving back into the days of old. they don't think the landscape is. >> apple is yielding 1.8%? >> i think the stock is giving one more chance to get it. we saw the big bounce off that and up to 29, i guess. here we are at 23.5 again. good value. you are betting that meg whitman has the pedigree to do it. can you be in it before that value gets lucky? i think you are better off since this is fast money. they are combining the printing business. does this seem like a change to make? that will truly unlock and ahead of the printer division left. he left. what do they have to do? they merged it. big deal. >> the cost side of the business is proven

let me tell you about values. hard work is a value. [applause] looking out for one another is a value. [applause] the idea we are in this together, i am my brother's keeper and my sister's keeper. that is a value. [applause] caring for our own, that is a value. [applause] making sure that seniors can retire with dignity and respect, that is a value. [applause] making sure our -- are veterans are cared for. that is a value. [applause] you understand that. one of the great things about this town is that we come from everywhere. i guess you cannot look in a phone book because they do not have them -- [laughter] -- but when you think about chicago, what you think about is all the last names. obama, emanuel, sanchez -- will come from someplace else. the only reason that we can be in the spring of this and ballroom is -- we can be in this magnificent bottom is because somebody took responsiblility for their families, and generations of immigrants making sure that they were leading something behind for the next generation. our grandparents an

of course those are values which you need to inject into the organization and instill in the soldiers well before you meet some kind of crisis or some kind of combat situation. but when we hit that situation the soldiers were so concerned about their fellow soldiers to prevent them from being killed or wounded. they would do anything to prevent that. these are their buddies, their comrades in arms, people they've been serving with for many months and there is that special bond that's established. so my biggest role was trying to ensure that i held them back, because if their buddy got shot, they were going to go after the viet cong or the nva soldier that shot them. so i think that's probably one of the biggest things that i remember especially on that day, because it was a very difficult, probably one of the most devastating and difficult situations that i had been in on that operation in 5 november 1966. it was a five-hour operation, between the time we went in at 7:00 in the morning and the time we came out at noon. i can remember that my adrenalin was running the entire time. it's

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we would say you are getting good value for your money in the management team. living next, the recommendations made for short-term recommendations in the long term recommendations, the question cannot as would be expected, 30 think we're going to end up at the end of the program in terms of cost and schedule. our focus is entirely on the construction management phase, so we want in a position to report on that. we did make recommendations on how that could be assessed. the project team is doing the value analysis, and i see that included in the current quarterly report. we have already reported on schedule reporting that we made a recommendation there to modify some of the contract to better reflect schedule performance. reassessing a system wide emergency procedures, they suggest a broader verification of emergency procedures in cases other incidents and public safety issues. finally, the question came up about earthquakes. one of the things is to bring up earthquake strength, better performance under a major earthquake. but what happens if an earthquake occur

no country will value those who work as we will value those who work together the british people will share in the effort and share the rewards. this country borrowed its way into trouble now we're going to earn our way out. i commend the house. >> order. order. order. thank you. provisional collection of taxes must be decided without debate, will the chancellor and exchequer please move forward. the question is pursuant to section five of the provisional collection of taxes of 1968, shall be given to the following motions, a, back products motion number 40. b, alcohol motion number 41. c, amusement machine motion number 47. d, landfill site in scotland motion number 58. e, stamp duty prevention of avoidance of cities et cetera, motion number 65 and f, stamp duty lamp tax raise residential property where consideration exceeds two million pounds, motion number six. g, stamp duty land tax higher rate for certain acquisitions companies et cetera, motion number 67. as many of that opinion say aye. i shall call upon to move a motion entitled to the member of the law. it is a motion that th

returning fairness and shared responsibility as defining values of our budget. the democratic proposals will ensure that taxes are not raised on any person who make morse than $200,000. they will ensure that middle income families do not pay a higher effective tax rate than millionaires and billionaires. our proposals seek to protect medicare and medicaid and the rest of our social safety net from the harmful cuts republicans proposed to pay for increased tax breaks for the well off and well connected. the republican budget relies on the mythology that tax kits for the wealthiest create jobs and promote economic growth. they would offer an average tax cust at least $150,000 a year for the wealthiest few. this is faith-based economics. republicans blindly believing it works, even though there is no proof, no evidence to back that up. and yet republicans rely on this mythology to justify and inherent and balance and unfairness in these budget priorities, choosing to corner more money with the wealthy while seniors, children and the poor are played to shoulder an e

no country will value those who work as we will value those who work. together the british people will share in the effort and share the rewards. this country borrowed its way into trouble. now we're going to earn our way out. >> order! order! order! >> the provision of taxes was decided without debate. will the chancellor please move formally. the question is pursuant to section five of the professional collection of taxes of 1968, provisional effects shall be given to the following motions, a tobacco products, duty rates, motion number 40. b alcohol duties rate, motion number 41. amusement machine license. motion number 47. landfill sites in scotland motion number 58. stamp duty. prevention of avoidance, et cetera, motion number 65. and residential property consideration two million pounds. g stamp duty land tax, higher rate for certain acquisitions, companies, et cetera. motion number 67. as many with that opinion say aye. >> aye. >> those opposed, no? >> the ayes have it. i shalt now call on the chancellor to now move -- amendment to law, and it is

they have to trans mitt values. but also the school should trans mitt certain values. what is your experience in your life? what is happening in your school? we live in a peaceful school. what do you say? we live in a peaceful school. a peaceful school. okay. it's a peaceful school. very good. it's forbid tone wear a scarf. many this is my religion. if my religion says i have to cover myself, why is it forbidden. is it for the teachers? no, the students, too. for the teachers, yes. yes. my cousin works in a department store. she's not allowed to wear a scarf either. she has to take it off when she comes to work and she puts it back on when she goes in the street. yes, for teachers, that's what we decided. and also it's been decided legally by courts that we need to have neutrality to religion. of course, your s specific connotation. and teachers should not wear it. of course, with the students, it depends. so your i allowed toeish that including secretaries. but every time we try to wear it, people take it off. now that you talked to the chancellor, maybe she'll do som

and the my six are shedding value losing more than three percent each as you can see there and it does look basically like one of the factors is the street protests that investors usually interpret as a sign of instability and one of the main copters though is of course the global sentiment all of the equity markets across the board a shedding value this tuesday and russia is definitely no exception one of the reasons is the macroeconomic headline and one of them is china's decision to cut its growth prospects to its lowest level in eight years and that's less now if you look at the biggest movers pretty much all the blue chips across the board shedding value this hour. oil majors namely gas problem is down the financials as very bank is shedding value as well and metals and mining including m m k is in the red as you can see there and russia stocks of course have no place to go but down because there's a strong correlation between russian equities and the price of oil and wells been seeing very choppy trade throughout the day today and it's shedding value this hour as you can see and

so these are values. and in a dhaka see, human values count. so here are the three forms of wealth.er a basic quality-of-life and living economy. this is how we get to a sustainable future by balancing these things come and we did this exercise in cordova after the collapse in 1993. it was like well, what are we going to do to rebuild our community? and it wasn't just the economic things. remember it was a mental health trauma, to delete go too. we formed people to problem solve. after -- 1994 after the blockade, there were five nonprofits formed in the community of cordova all to deal with mental health, economic situations, the science, how are we going to show that the science needs to show the oil, dealing with the oil spill cleanup, it turns out that the sociologists now called fees' was running circles and this is a national model now that is used to limit the capitol loss after the disaster used in katrina. it's about getting people together to shift out of the victim mode and to the survivor mode by working together for the common good. what are the bigger problems outside y

and the shared values that he has.his is such a wonderful opportunity. i also want to thank some of the school kids especially here today. we have kids from our tenderloin community school. thank you for being here. [applause] all right. we also have, for the first time, at the request of -- the idea ofcesa -- that cesar chavez elementary school wanted us to webcast this live, so we did it for them. wherever you are, welcome. [applause] tony, for 50 years, you have helped us not only remember a great song, but whenever any of us leave our town, we always come back and call san francisco our home. i know we talked a little earlier and tried to recall that wonderful initiation where in 1961, you first sang that song in the venetian room up at the fairmont. little did you know at the time that then mayor george christopher was in the audience with joe alioto. it was such a marvelous performance that when joe became mayor, he adopted that as one of our two official anthems. thank you for performing first in san francisco.

yes, the value there and with chile and all of that area. yes? >> (inaudible). >> no -- you know what it is. it's a rubber stamp of the tube that is heating it. you can -- >> (inaudible). >> no it's a tube. somebody had a question. i don't know if we are running out of time or we have to go or -- >> (inaudible). >> (speaking spanish). i think it was done two years ago. it's peru veian. >> (inaudible). >> (speaking spanish) the style in the music to hit all those notes back and forth and then the guitar which is a spanish instrument and the lyrics are from spain and the type of song is indigenous and the type of percussion can is african. >> (inaudible). >> yeah, you could hear in the music. it has that pitch and that sadness to it. >> (inaudible). >> okay. so can you play the first song? we will show you a little bit and then you guys can come up and dance. (music). (applause). (music) >> welcome to this afternoon's performance. before the actual performance starts i thought i would say a few brief words about what japanese chamber music means. t

million in value. a few weeks ago, congress authorized the fcc to duct voluntary incentive auctions. a new market based mechanism to repurpose spectrum for flexible use such as mobile broad band. incentive auctions which i'm proud to say were originally suggested by the fcc two years ago are a sunt to unleash vitally needed addition spectrum and create tremendous value for american consumers while raising billions of dollars for deficit reduction. at the fcc we're focused on faithfully implementing the incentive auction provisions and maximizing the opportunities of the new law for the economy and all americans it's a privilege for the fcc to be entrusted with this responsibility which of course will require a great deal of work and effort by the agency. incentive auctions are unpress depted. the u.s. will be the first country in the world to conduct them. it will be a multifaceted task affecting major parts of our economy involving many challenging questions of economics and engineering. fcc staff is

because maybe there's no value to be unlocked?nlock value is figuring out what the comments are worth. comments on the tape. all our options, coming out right now. we were playing the song "london calling" when we came in from the break. do everything for a reason here on "fast money." is vodafone coming in to take these guys over, i don't know? >> i thought they were playing high class with your shirt. >> let's not talk about shirts, are you kidding me? >> i'm going to be the outlier here and say the tact that rimm is not getting lambasted which apparently it's not right now might be an indication that the worst is over in terms of the stock, not the company. >> at hitting there's a problem is a very important first step. >> you've been to those meetings? >> i've read about them. >> well, i'm just saying. we'll see what happens. >> stock is down 2%. >> bouncing back. >> there has been a lot of talk that some of the big private equity firms were looking at rimm. that rumor has been out there a long time that. still could be out th

dear and pressur precious to us. >> freedom to your values. >> or your values. >> can't be both because right. >> whose do you take? >> i take mine, you take yours. what i'm interested in with my documentary is to reveal the fact that the things we have come to love in our country were ultimately produced by a certain root, and i want to know what that is. >> kirk cameron, the documenty is on a march 27th release. good to meet you. >> coming up next, only in america. >>> i grew up diving in the florida keys, and it was just the most magical place. the coral reefs were so pretty. and i decided that's what i wanted to do for a living, dive on coral reefs. in an area where there's live coral, there's more fish. we have to provide protection for the coastal areas and recreational opportunities for millions of people. i was diving for 40 years. over time, i saw the coral reefs start to die. coral reefs worldwide are in decline. if coral reefs died completely, coastal communities would be bankrupt, tourism would be virtually gone. a billion people in the world would be impacted. i started thi

aren't they traditionally valued on book to loan value, they own land and homes, isn't it a mult mallue the way you look at it, is it at historically high or low levels, where are we? >> you have to value them on price to book. they aren't normal companies with ongoing earning streams they are like private equity land funds which is why you have to use price to book. the quality names like d.r. horton are trading 1.4 times, that number could go to 1.6 times if the market believes recovery is happening and you get earnings accretion and even more multiple expansions past there. >> what kind of price cuts have the high-end home builders, toll brothers especially, what kind of price cuts have they had to take to clear their inventories? >> well, the new home inventory has been at historic lows now for well over a year. probably going on two years now. so -- and if you look at the builders' gross margins which tells us what their pricing margin has been like, we've had stability since the home buyer tax credit went ago, even though the case-shiller home indices, we've got more than that.

what i worry about is our dollar starts to drop in value. as we start to pump more money into the equation. we just negotiated a new loan to build a new building. it was certainty that the banks came to us, and we came up with what we thought was a real attractive package. but, again, the driver for all of us that own a small business is the certainty of what the markets are going to be or, as we look into the future, how we plan our purchases, our equipment buys, employee hires and everything like that. what do you see happening right now, dollarwise, our value of the dollar? it does drive what lenders will ask for us to give back. if r me it became very difficult because the covenance changed every quarter, the fact that we had singular purpose building. yo your collateral is not what it was before. risk is the key that drives everybody. we're looking at great risk in europe and the con tantagion of. i look at us as mountain climbers, climbing on the same rope. once it starts to come down, it will bring us all down. prime rate, some certai

he value of the pool they coracted for was $24,000.ool's total square footage was 800 square feet. so they divided the pool's value by the total square footage to determine the cost of the pool per square foot, and arrived at the figure of $2,400 for compensatory damages. the johnsons then met with the contractor to present their claim for compensatory damages. he refused their offer, but made a counter offer based on his construction costs which he calculated to be $11 per square foot or $880 in compensatory damages. the johnsons weren't pleased but they wanted to get on with the construction so that the pool would be ready in time for the anniversary party. after their attorney had been apprised of tir sentiments, the johnsons were advised to include equitable remedies in their lawsuit. equitable medies are fairness oriented bases of relief rather than momentarily based as damages are. equitable remedies deal with the actual contract itself, and may result when damages are unavailable, undetermined, or inadequate. in other words, equ

the value engineering, typically we hit that when we are at about 35% design. we will be bringing in a risk analysis completed prior to the summer. the typical bottom line would be when we have refined alternatives, we have come up with alternatives that meet the needs of the project, then we would utilize the triple bottom line to get a relative comparison of social, environmental, economic. it could be things like jobs, like local jobs. whatever the values of the various committees and us being. this is lower than where we are. we are at a bit higher level at this point but we will be incorporating risk assessment and that will show how the projects are sequenced. >> part of that is to help us understand what the decisions and tauruses are between here and in answer. maybe have something that is fully baked and cast in stone that we need to understand how the choices are being made. >> i think that is true. the whole discussion is to talk about what do you think fits in the 10-year or 20-year program. what are you willing to give up? you might have ranges of

that is a value. -- i am my sister's keeper. that is a value.a that we think about the next generation and we are taking care of our planet. that is a value. [cheers and applause] each of us is only here because somebody somewhere felt a responsibility to their families and to their fellow citizens. to our countries future. -- our country's future. the american story is not just about what we do our own. we are individualist and we expect personal responsibility and everyone has to work hard. but, we also have always understood that we would not win the race for new jobs and businesses and middle-class security if we were just applying some you are on your own economics. it has been tried it has not worked. it did not work when we tried it in a decade before the great depression. it did not work when we tried it in the last decade. we just tried this. what they are peddling has been tried. it did not work. [cheers and applause] we know this from our own lives. if we attract some outstanding in person to become a teacher -- young person to be a t