Escolar Documentos
Profissional Documentos
Cultura Documentos
7R E
6XEMHFW 5H9)OD\GRZQ
'DWH 6XQGD\'HFHPEHU30
$PHQ,DPVLFNRIWKH%&6,FDQ
WVWDQGWRKHDUFLQGUHOODWHDPDJDLQXQOHVVLWLV0DUFK:HVKRXOG
DOVRKDYHJUXGJHPDWFKJDPHVEXW,GLJUHVV
$QG,DPQRWWKHRQHKLGLQJEHKLQGWKHGLYLVLRQFKLHIIRUSURWHFWLRQ
E LWZDVDVHSHUDWHVHWRIHPDLOVWKDW,ODLGGRZQWKHVWUHQJWKRIVFKHGXOHODZRQWKHOLEHUDO
FRPP\3$&IDQFOXE7KH\GLGQ
WFDUHIRULWYHU\PXFK
2ULJLQDO0HVVDJH
)URPE
7RE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
:RZEULQJLQJE LQWRILJKW\RXUVPDFNEDWWOH,ZRXOGKDYHH[SHFWHGPRUH$UH\RXJRLQJWR
EHFRPHDQ/68IDQQRZWRR",ZRXOGORYHWRVHHWKDWPDWFKXSEHFDXVH,WKLQNWKH\DUHERWKJRRG
SURJUDPVEXWLWZLOOQHYHUKDSSHQXQOHVVWKH\DUHDQGDWWKHHQGRIWKH\HDU$SOD\RIIIRUPDW
ZRXOGEHEHWKHXOWLPDWHIRUDOOIDQVDQGOHDYHQRGRXEWDVWRZKRLV
2ULJLQDO0HVVDJH
)URPE
7RE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
7RHQGWKHDUJXPHQWRQFHDQGIRUDOO,ZRXOGOLNH86&WRSOD\/68DQGWKHQWKH\FRXOGULGHWKH
SODQHEDFNWR&$YHU\TXLHWO\DQGWKHLUHJRVSDFNHGLQWKHVXLWFDVHV
2ULJLQDO0HVVDJH
)URPE
7RE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
$QRWKHULQWHUHVWLQJ\HDULQFROOHJHIRRWEDOO:9DQG0LVVRXULDUHRXWGXHWRDORVV)ORULGDZRQ
WPDNH
D%&6ERZODV\RXFDQ
WKDYHWKUHHWHDPVIURPWKHVDPHFRQIHUHQFH7KHVDPHUXOHZLLOOSUREDEO\FRVW
.DQVDV
7KDWOHDYHVVL[WHDPV268LVSUREDEO\LQGXHWRKDYLQJRQHORVV
2IWKHUHPDLQLQJILYH28DQG86&SUREDEO\KDYHWRRPXFKJURXQGWRPDNHXS86&RQO\EHDWWZR
WHDPVZLWKZLQQLQJUHFRUGVDQGORVWWR6WDQIRUG
7KDWZRXOGOHDYH/689D7HFKDQG8*$*HRUJLDGLGQ
WZLQWKHLUFRQIHUHQFHRUHYHQWKHLUGLYLVLRQVR
,WKLQNWKH\
OOGURSEHKLQG/68
,IWKHYRWHUVUHPHPEHUWKDW/68EHDW9D7HFKE\SRLQWV,WKLQNLWZLOOEHD2KLR6WDWH/68WLWOH
JDPH
2IFRXUVH,
PD7LJHUIDQVRP\RSLQLRQFDQEHYLHZHGDVELDV(YHQVRZKHQUHYLHZLQJDOOWKH
UHVXPHV,GRQ
WVHHKRZDQ\RQHFDQPDNHDOHJLWDUJXPHQWIRUDQRWKHUWHDP
,W
VFORVHEXW,WKLQNWKDW
VWKHPRVWDFFXUDWHDVVHVVPHQW2QO\WLPHZLOWHOO5HJDUGOHVVE
ZLOOZKLQHDERXWVRPHWKLQJ
2ULJLQDO0HVVDJH
)URPE
7RE #GKVJRY!
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
:KHUHDUHWKHVWUHQJWKRIVFKHGXOHVUDQNHG"'RQ
WHYHQWU\WRFRQYLQFHPHWKDWWKRVH:HVW&RDVW
7HDPVFDQEHIDLUO\UDWHGRQ:LQVYV/RVVHVDJDLQVWWKH%LJDQG6(&WHDPVZLWKREYLRXVO\WRXJKHU
VFKHGXOHV,WKLQNDOORIWKRVHSRVHUWHDPVWKDWVKRZHGXSKLJKRQWKH%&6817,/DVLQJOHWRXJKJDPH
KDSSHQHGLVWHVWLPRQ\WRWKDW86&LVMXVWRQHRIWKHEHWWHUSRVHUWHDPV
%\WKHZD\\RXZHUHFF
LQJ-HIIRQ\RXUIRRWEDOOMLEEHULVK
2ULJLQDO0HVVDJH
)URPE
7RE 6HOI
-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
+PPPZKHUHLV7HQQHVVHHUDQNHGFRPSDUHGWR86&"
2ULJLQDO0HVVDJH
)URPE
7RE 6HOI
-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
2EYLRXVO\\RXIDLOWRUHDOL]HWKDW7HQQHVVHHORVWWRDQ6(&FKDPSLRQWHDPZKHUHDV86&ORVWWRDQRWKHU
ZHDN&$WHDP
2ULJLQDO0HVVDJH
)URPE
7RE !6HOI
-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
E
/RUHQZDQWVWRPHHWDVZHOOWRVHWXSZHHNO\WHOHFRQVZLWKWKHVHFWRUVWRGLVFXVVSURMHFWVWDWXV
+HDOVRZDQWVWREULHI-HIILISRVVLEOHWRGLVFXVVWKHILQDOFKDQJHVWRWKHIHQFHGHVLJQWRROER[:H
OO
VHQGLWRXWWRWKHVHFWRUVIRUILQDOIHQFHVHOHFWLRQ
,WVKRXOGEHEXV\WRPRUURZ
$OVRGLGQ
WXQGHUVWDQG\RXUPHVVDJHODVWQLJKWUHJDUGLQJ86&DQG8&/$,WVHHPV\RXZHUHWU\LQJWR
WDNHWKHDWWHQWLRQRIIWKHIDFW7HQQHVVHHJRWEHDWDQG86&LVWKHKRWWHVWWHDPLQWKHFRXQWU\ULJKWQRZ
E
2ULJLQDO0HVVDJH
)URPE
7RE 6HOI-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
7KDWZLOOEHWKH0RQGD\PHHWLQJ%DVLFDOO\DOOZLOOEHEXLOWH[FHSWIRUPD\EHVRPHH[WUDLQ0DUID
6HFWRU,EHOLHYH0DUIDLVWKHORZHVWRQWKH)RFXV6HFWRUOLVW6RLWVKRXOGQ
WEHKDUG%XW6%,QHWKDV
SURYHGPHZURQJEHIRUH
E
2ULJLQDO0HVVDJH
)URPE
7RE 6HOI
-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW5H9)OD\GRZQ
E
,KDYHDVNHGE VLQFHWKHEHJLQQLQJIRUKLPWRJLYHXVKLVEXLOGPLOHDJHVRZHNQRZZKHUHWKHFXWRII
ZLOOEHEHIRUHZHFDQSULRULWL]HQDWLRQDOO\7KLVZLOOKHOSXVDYRLGJDSVDQGEHDEOHWRSUHGLFWLPSDFWV
'LGKHSURYLGHWKLVWR\RX"
E
2ULJLQDO0HVVDJH
)URPE
7RE 6HOI-HIIUH\'E
&FE
6HQW6XQ'HF
6XEMHFW9)OD\GRZQ
E
'XULQJWKHEXGJHWSUHVHQWDWLRQVJLYHQE\6:%RIWKHLUUHVSHFWLYHVHFWRUV&KLHIKDGVHYHUDOTXHVWLRQV
DERXWYHKLFOHIHQFHSURMHFWVEHLQJIXQGHGWKURXJK9)WKDWZHUHUHTXHVWHGLQWKHVHFWRUEXGJHWV,
WROGKLPWKDWPRVWLIQRWDOOSURSRVHG9)SURMHFWVZRXOGEHFRPSOHWHGLQ
E KDV
VWDWHGDQ\H[WUDDVLWLVQRZZRXOGEHLQ0DUID6HFWRUE DOVRUHTXHVWHGWRVLWGRZQ0RQGD\
DQGJRRYHUWKHOD\GRZQDQGSXWLWLQWKHQDWLRQDOSULRULW\RUGHU
-HII
'R\RXZDQWXVWRSXWWKH9)SURMHFWVLQIRFXVVHFWRURUGHURQDQDWLRQDOOHYHO"7KH\DUHDOUHDG\
SULRULWRUL]HGZLWKLQHDFKVHFWRU:HZLOOQHHGWRJHWWKLVOLVWWRWKH6:%$&3$VWREHDEOHWRXSGDWHWKH
EXGJHWSUHVHQWDWLRQV7KDQNV
E