Page 1

'H$Q]D&ROOHJH·V)LUVW$PHQGPHQW6WXGHQW3UHVV

D9R]:HHNO\

9ROXPH_,VVXH

-XQH

ZZZODYR]GHDQ]DFRP

:(%(;&/86,9(

$VLDQ$PHULFDQ3DFLÀF;SUHVVLRQVSXWRQVKRZFDVH6HHVWRU\RQOLQHSKRWRV3*

De Anza Faculty Obituaries

Admissions

-$671,757

Vladimir Logvinenko ,QVWUXFWRU 9ODGLPLU /RJYLQHQNR GLHG ODVW PRQWKIURPFDQFHU /RJYLQHQNR ZDV DQ LQVWUXFWRU DW 'H $Q]D LQWKH0DWKHPDWLFVGHSDUWPHQW 2Q )DFHERRN /RJYLQHQNR IRUPHU VWXGHQW ZURWH´+HZDVDJUHDWPDQKHKDGDELJKHDUW DQG DQ HYHQ ELJJHU VHQVH KXPRU :H ZLOO DOO PLVV\RXUMRNHVDQG\RXUJUHDW5XVVLDQDFFHQW 5HVWLQSHDFHµ $VHUYLFHZDVKHOGUHFHQWO\RXWLQWKH0DLQ 4XDGUHFHQWO\WRUHPHPEHUKLP

Will reduce staff by 5.75 full time employees.

Financial Aid

-$194,942 Awards delayed, students may be unable to buy books. Retention of students may be affected.

Alberto Gamiochipi $OEHUWR *DPLRFKLSL )RRG 6HUYLFHV &RRUGLQDWRU DW WKH &DPSXV &HQWHU KDV DOVR GLHG0D\DWWKHDJHRI )RUPHU PHPEHU RI WKH 8QLWHG 6WDWHV 1DY\ *DPLRFKLSLZDVNQRZQIRUKLVFXOLQDU\VNLOOV +H ZDV HPSOR\HG E\ 'H $Q]D &ROOHJH LQ )RRG6HUYLFHVIRUWKHSDVWVHYHQ\HDUV ,1)250$7,21)25*$0,2&+,3,·62%,78$5<3529,'('%<7+( 0(5&85<1(:6

Student Development

Foothill student wins grant

-$458,125 A shift from individuals to technology may limit student access to services.

+(/(1.2+ 3+272&2857(6<2)'($1=$('8

De Anza plans ahead

O $',7<7,%5(:$/$ )5((/$1&(5

Q0D\WKH'H$Q]D&ROOHJH&RXQFLOKHOGDQRSHQPHHWLQJWRGLVFXVVKRZ HDFKGHSDUWPHQWRIWKHFROOHJHZLOOEHDIIHFWHGE\WKHZRUVWFDVHVFHQDULRRI EXGJHW FXWV 7KH 3ODQQLQJ DQG %XGJHW 7HDPV IRU WKH ,QVWUXFWLRQDO 6WXGHQW 6HUYLFHV DQG )LQDQFH DQG (GXFDWLRQ 5HVRXUFHV GHSDUWPHQWV JDYH SUHVHQWD

WLRQV GHVFULELQJ WKH FKDOOHQJHV DQG FKDQJHV HDFK GHSDUWPHQW ZRXOG IDFH VKRXOG VWDWHZLGH IXQGLQJIRUFRPPXQLW\FROOHJHVEHFXWE\PLOOLRQGROODUV 7KH 'H $Q]D DGPLQLVWUDWLRQ KDV EHHQ SUHSDULQJ IRU WKH ZRUVW FDVH VFHQDULR DV D WHQWDWLYHPHDVXUHLQFDVHWKHVWDWH·VSURSRVHG EXGJHWUHYLVHGLQHDUO\0D\LVQRWDSSURYHG 9LFH3UHVLGHQWRI6WXGHQW6HUYLFHV6WDFH\ &RRNVDLGWKHUHZHUH´VLJQLILFDQWVFHQDULRV IRUVLJQLILFDQWUHGXFWLRQVLQVWDIIµ $VSDVWFXWVKDYHDOUHDG\UHPRYHGVRPH QRQFRUH VHUYLFHV EDVLF VHUYLFHV DUH LQ GDQJHURIEHLQJFXW'LUHFWRURI)LQDQFLDO $LGDQG6FKRODUVKLSV&LQG\&DVWLOORVDLG WKDW 'H $Q]D KDV ´EHHQ LQ HIILFLHQF\ PRGH IRU WKH ODVW IHZ \HDUV WKHUH LV QRZKHUHWRJRµ

7KH6WXGHQW6HUYLFHVSUHVHQWDWLRQSDLQW HGDVLPLODUSLFWXUH7KH6WXGHQW6HUYLFHV SURSRVHG EXGJHW ZDV  VKRUW RI WKHDPRXQWWKH\ZHUHDOORWWHGWRUHGXFH,W ZDVDQ´LQFUHGLEO\GLIILFXOWSURFHVVµVDLG FRFKDLUIRUWKH6WXGHQW6HUYLFHV3ODQQLQJ DQG%XGJHW7HDP9LFN\0RUHQR ´2IWHQWLPHVPDQDJHUVKDYHWRSXWWKHLU RZQSRVLWLRQVRQWKHOLVWµ&RRNVDLG ,Q $GPLVVLRQV DQG 5HFRUGV  ZRUWK RI FXWV ZLOO UHGXFH VWDII E\  IXOO WLPH HPSOR\HHV )7(  %DVLF SUR FHGXUHV VXFK DV JUDGXDWLRQ WUDQVIHU DQG WUDQVFULSWSURFHVVLQJZLOOEHGHOD\HG7KH

)2//2:7+(1(:6

UHVSRQVHWLPHWRERWKVLPSOHDQGFRPSOH[ LQTXLULHV ZLOO OHQJWKHQ ZLWK IHZHU VWDII WRDVVLVWVWXGHQWV2QDODUJHUVFDOHWKHVH EXUHDXFUDWLF VWUXJJOHV PD\ DIIHFW HQUROO PHQW&RRNVDLG ´(YHU\WKLQJ LV LQWHUFRQQHFWHGµ VDLG &RRN)LQDQFLDO$LGDZDUGVRIWHQGHSHQG RQWUDQVFULSWVDQGJUDGHVEHLQJSURFHVVHG LQ D WLPHO\ IDVKLRQ ,I WUDQVFULSWV DUH QRW SURFHVVHGRQWLPHDZDUGVPD\EHGHOD\HG ²DJDLQSRVVLEO\OHDGLQJWRUHGXFHGHQUROO PHQW&RRNVDLG 7KH )LQDQFLDO $LG GHSDUWPHQW ZLOO EH _6HH'$%8'*(7 3DJH_

7KHVRFLDOYR]RI'H$Q]D )LQG/LNH)ROORZ

WZLWWHUFRP IDFHERRNFRP

67$)):5,7(5

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´+H ZDV SOD\LQJ ZLWK D OLWWOH WR\ WXUWOH KH KDG LQ WKH WXE DQG KH NLQG RI EURNH LW DSDUW DQGKHWRRNP\QDLOEUXVKDQGNLQGRIVWXIIHGLW LQVLGHµ %DLQ VDLG LQ DQ LQWHUYLHZ ZLWK .*2·V 'DYLG/RXLH %DLQ ZDVQ·W DOZD\V SODQQLQJ RQ VWDUWLQJ XS DVPDOOEXVLQHVV6KHZDVDPDUULDJHFRXQVHORU DQGHYHQKDGVRPHFXOLQDU\WUDLQLQJDVZHOODVD PDVWHU·V GHJUHH EXW LW ZDVQ·W XQWLO WKH LGHD IRU %DLQ%DWK3HWVFDPHWRKHUDQGVHWKHURQWRKHU HQWUHSUHQHXULDOMRXUQH\ ´,·YHWDNHQDQLQMHFWLRQPROGLQJFODVV,·YH WDNHQ D VLOLFRQ PROGLQJ FODVV ,·YH OHDUQHG DOODERXW _6HH*5$17 3DJH_

/$92=:((./<


&DPSXV(YHQWV

-XQH

_/D9R]:HHNO\ 021'$<-81( ',675,&7%2$5'2) 75867((60(((7,1*

SP%RDUG5RRP)RRWKLOO&ROOHJH )RU LQIRUPDWLRQ YLVLW KWWSZZZIKGDHGX DERXWBXVERDUG

78(6'$<-81( (9(5<%2'<,6%($87,)8/ /29(7+(21(<28·5(,1

$OO DUH LQYLWHG WR DWWHQG WZR 3RVLWLYH %RG\ $ZDUHQHVV3URJUDPZRUNVKRSV DP&DPSXV&HQWHU5RRP% (DWLQJ'LVRUGHURU'LVRUGHUHG(DWLQJ" 6SHDNHU$OLVRQ'DUF\3K'6WDQIRUG DPSP&DPSXV&WU5P% +RZWR6WUHQJWKHQ<RXU%RG\(VWHHP 6SHDNHU&RQQLH6REF]DN&RIRXQGHURI 7KH%RG\3RVLWLYH )RU LQIRUPDWLRQ FRQWDFW 0DU\-R /RPD[ DW ORPD[PDU\MR#IKGDHGX

&(/(%5$7(285&8/785(6 '()(1'(7+1,&678',(6

7+(&2/252)7+(3(23/(·6)(67,9$/ DPSP0DLQ4XDG 'H$Q]D&ROOHJH0(&K$LQYLWHV\RXWR7KH &RORU RI WKH 3HRSOH¶V )HVWLYDO LQ WKH 0DLQ 4XDG WR FHOHEUDWH RXU FXOWXUHV DQG GHIHQG (WKQLF 6WXGLHV ,Q $UL]RQD +RXVH %LOO  KDVPDGH(WKQLF6WXGLHVLOOHJDO,Q&DOLIRUQLD (WKQLF 6WXGLHV GHSDUWPHQWV DUH EHLQJ WDUJHWHGIRUEXGJHWFXWV,W¶VWLPHWR¿JKWEDFN MRLQ0(&K$IRUDGD\RIFRQVFLRXVQHVVDQG HPSRZHUPHQW ZLWK$]WHF 0H[LFD  GDQFHUV FXOWXUDOSHUIRUPDQFHVDQGVSHDNHUV

)5((6325760$66$*(

SP3(8 DERYH:HLJKW5P

6SULQJ6SRUWV0DVVDJHFODVVPHPEHUVZLOO EHJLYLQJIUHHSRVWHYHQWVSRUWVPDVVDJHV 6LJQXSIRUDPLQXWHVORWRQWKHVKHHWV RQ WKH 3( 2I¿FH 'RRU :DONLQV ZHOFRPH RQDVSDFHDYDLODEOHEDVLV)RULQIRUPDWLRQ FRQWDFW 'HE 7XFN DW WXFNGHERUDK#IKGD HGXRUFDOO

ODYR]GHDQ]DFRP

:('1(6'$<-81( &21)(5(1&(21 +80$175$)),&.,1*

SP0XOWLFXOWXUDO&HQWHU 0&&

$SSUR[LPDWHO\PLOOLRQVODYHVDUHWUDI¿FNHG ZRUOGZLGH0DLD6FLXSDF+XPDQ([SORLWDWLRQ DQG 7UDI¿FNLQJ :DWFK &RRUGLQDWRU ZLWK WKH $ODPHGD&RXQW\'LVWULFW$WWRUQH\¶V2I¿FHZLOO VSHDN)RULQIRUPDWLRQFRQWDFW6WHSKDQLH7RQJ DWVWHSKDQLHWRQJ#JPDLOFRP

)5((&+$,50$66$*(

SP0DLQ4XDG 7KHVSULQJ&KDLU0DVVDJHFODVVZLOOEHJLYLQJ IUHH PLQXWH FKDLU PDVVDJHV )LUVW FRPH ¿UVWVHUYHG)RULQIRUPDWLRQFRQWDFW'HE7XFN DWWXFNGHERUDK#IKGDHGX

7+856'$<-81( 635,1*&$51,9$/

DPSP0DLQ4XDG 7DNHDEUHDNEHIRUH¿QDOVDQGHQMR\JDPHV DGXQNWDQNHQWHUWDLQPHQWDQGDFKDQFHWR ZLQDJLIWFDUGDWWKHDQQXDOVWXGHQWFDUQLYDO

SP93$&$XGLWRULXP 6HH-XQH

78(6'$<-81( (03/2<((&(/(%5$7,21

SP&DPSXV&HQWHU3DWLR 7KH&ODVVL¿HG(PSOR\HHRIWKH0RQWK&HOHEUD WLRQ ZLOO UHFRJQL]H WKHVH HPSOR\HHV IRU -DQX DU\-XQH6KLUOH\6FKRROHU'6367HUL*HUDUG  %XGJHW  3HUVRQQHO 0DULH 7D\ORU +DUSHU  %XVLQHVV &RPSXWHUV9LGD$MGDULDQ+23( 6HUYLFHV/RUL6XVL0DUNHWLQJ &RPPXQLFD WLRQDQG$QQLH.RQJ&XVWRGLDO6HUYLFHV

:('1(6'$<-81( '$1&('(021675$7,21

SP93$&$XGLWRULXP 7KLV VWXGHQW GDQFH GHPRQVWUDWLRQ LV IUHH )RU LQIRUPDWLRQ FRQWDFW :DUUHQ /XFDV DW OXFDVZDUUHQ#GHDQ]DHGX

DQG  IRU JHQHUDO )RU LQIRUPDWLRQ FRQWDFW /RUHQ7D\HUOHDWWD\HUOHORUHQ#IKGDHGX

75$16)(55(39,6,76

$11281&(0(176 &$/,)251,$+,6725<&(17(5 '(7$,1('$7/,%(57<·6'225

8QLYHUVLW\ WUDQVIHU UHSUHVHQWDWLYHV IURP FROOHJHVDQGXQLYHUVLWLHVZLOOYLVLWFDPSXV 0RQGD\-XQH8&'DYLV 7XHVGD\-XQH1DWLRQDO+LVSDQLF  8QLYHUVLW\8&6DQWD&UX] :HGQHVGD\-XQH'H9U\8QLYHUVLW\ 7KXUVGD\-XQH$UW,QVWLWXWHVRI&DOLIRUQLD 0RQGD\-XQH8&'DYLV 0RQGD\-XQH8&'DYLV )RUDVFKHGXOHYLVLWKWWSZZZGHDQ]DHGX WUDQVIHUFHQWHUUHSYLVLWVKWPO $SSRLQWPHQWV PD\EHVFKHGXOHGD\WKH7UDQVIHU&HQWHULQ WKH6&6%RUE\FDOOLQJ

7KLV H[KLELW WUDFHV WKH IRUPDWLRQ RI WKH $Q JHO ,VODQG ,PPLJUDWLRQ 6WDWLRQ DQG KLJKOLJKWV /HH<RNH6XH\WKHZLIHRIDQ$PHULFDQERUQ FLWL]HQGHWDLQHGIRURYHUPRQWKVRQ$QJHO ,VODQG([KLELWKRXUVDUH7XHVGD\V7KXUVGD\V IURP  DPQRRQ DQG  SP :HHNHQG KRXUVZLOOEHKHOGRQ-XQHIURPDP SP )RU LQIRUPDWLRQ FRQWDFW 7RP ,]X DW  RUL]XWRP#GHDQ]DHGX

',6&2817('029,(7,&.(76 $9$,/$%/(:,7+'$6%&$5'

'LVFRXQWHG PRYLH WLFNHWV DUH DYDLODEOH IRU VWXGHQWVZKRKDYHD'$6%FDUG 3ULFHVSHUWLFNHW  $0&*ROG  $0&6LOYHU  &HQWXU\3ODWLQXP 7R SXUFKDVH WLFNHWV VWXGHQWV VKRXOG EULQJ WKHLU '$6% FDUGV WR WKH 2I¿FH RI &ROOHJH /LIHLQWKHORZHUOHYHORIWKH&DPSXV&HQWHU DQGJRWRWKHZLQGRZODEHOHG³6WXGHQW$F FRXQWV´2I¿FHKRXUVDUH0RQGD\VWKURXJK 7KXUVGD\V  DP SP FORVHG  SP DQG)ULGD\VDPSP

7+856'$<-81( )5,'$<-81( 678'(173,$125(&,7$/ /,67(1,1* 63($.,1*&(17(5 DPSP93$&$XGLWRULXP )RULQIRUPDWLRQRQWKLVIUHHUHFLWDOFRQWDFW$QQD 635,1*&(/(%5$7,215$))/( 3RNOHZVNLDWSRNOHZVNLDQQD#GHDQ]DHGX 1RRQSP&DOLIRUQLD+LVWRU\&HQWHU &HOHEUDWH DQG VXSSRUW WKH /LVWHQLQJ DQG 635,1*&+25$/&21&(57 678'(17$576+2: 6SHDNLQJ&HQWHUHQMR\DQLQWHUQDWLRQDOOXQFK SP93$&$XGLWRULXP OLYHPXVLFDQGRYHUUDIÃ&#x20AC;HSUL]HVLQFOXGLQJ DQL3RG7RXFKDQGGLJLWDOFDPHUD5DIÃ&#x20AC;HWLFN HWVDUHDYDLODEOHIRULQ$7&)RULQIRU PDWLRQFRQWDFW.DQDNR9DOHQFLD6XGDDW RUVXGDNDQDNR#IKGDHGX

6)*,$1765(3257(57263($.

/ DURXQGFRUQHUIURP/D9R]

,$QGUHZ%DJJDUO\DXWKRURI³$%DQGRI0LV¿WV 7DOHV RI WKH  6DQ )UDQFLVFR *LDQWV´ ZLOO VSHDN DERXW KLV FDUHHU DV D VSRUWV UHSRUWHU DQGDXWKRU%DJJDUO\LVWKH6DQ-RVH0HUFXU\ 1HZVEHDWUHSRUWHUZKRFRYHUVWKH*LDQWV

3+272*5$3+(57263($.

SP$&KRUDO+DOO &KDUOHV &UDPHU LV D SKRWRJUDSKHU ZKR '($1=$>62&&(5@&83 WHDFKHV 'LJLWDO 3ULQWLQJ IRU WKH )LQH $UW SP)RRWEDOO 6RFFHU)LHOGV 3KRWRJUDSKHU DW WKH $QVHO $GDPV *DOOHU\ $OO'H$Q]DVWXGHQWVDUHLQYLWHGWRSDUWLFLSDWHLQ :RUNVKRS 3URJUDP )RU LQIRUPDWLRQ FRQWDFW WKH'H$Q]D&XSVRFFHUWRXUQDPHQWVSRQVRUHG &KLD :HQ DW ZHQFKLD#GHDQ]DHGX RU -RKQ E\£/($')RULQIRUPDWLRQFRQWDFW$GULDQ$VEXQ 0DUXRNDDWPDUXRNDMRKQ#IKGDHGX DW$GULDQDVEXQ#JPDLOFRPRU

$576+2:5(&(37,21

6$785'$<-81( '$'$1&(565()/(&7,216

'$'$1&(56¶5()/(&7,216·

SP93$&$XGLWRULXP SP(XSKUDW0XVHXP93$& 7KH 'H$Q]D 'DQFHUV SHUIRUP ³5HÃ&#x20AC;HFWLRQV´ $UHFHSWLRQDQGDZDUGVFHUHPRQ\ZLOOEHKHOG 7LFNHWV DUH  )RU LQIRUPDWLRQ FRQWDFW IRUWKH'H$Q]DVWXGHQWDUWVKRZ :DUUHQ/XFDVDWOXFDVZDUUHQ#GHDQ]DHGX

9LQWDJH6LQJHUVDQG&KRUDOHZLOOSHUIRUPD6SULQJ &KRUDO&RQFHUW&RVWLVIRUWKHSXEOLFDQG IRU VWXGHQWVVHQLRUV )RU LQIRUPDWLRQ FRQWDFW 'U ,ODQ*ODVPDQDWJODVPDQLODQ#GHDQ]DHGX

)5,'$<-81( '($1=$·6*277$/(17

1RRQSP93$&$XGLWRULXP &RPHHQMR\OXQFKWLPHHQWHUWDLQPHQWWKHDWHU PXVLFGDQFHVLQJLQJSRHWU\%ULQJ\RXURZQ LQVWUXPHQW 3$V DQG DPSV ZLOO EH SURYLGHG )RU LQIRUPDWLRQ FRQWDFW /L] 6WLPVRQ DW VWLPVRQHOL]DEHWK#IKGDHGX

'($1=$6<03+21,&:,1'6

SP93$&$XGLWRULXP 7KH6\PSKRQLF:LQGVSHUIRUPDQFHLVIRU WKHSXEOLFIRUVWXGHQWVDQGVHQLRUV$OOWLFNHW SULFHV LQFOXGH D  IRU  RIIHU )RU LQIRUPDWLRQ FRQWDFW-RKQ5XVVHOODWUXVVHOOMRKQ#IKGDHGX

681'$<-81( '($1=$&+$0%(525&+(675$

SP93$&$XGLWRULXP 6WXGHQWVLQWKH'H$Q]D&KDPEHU2UFKHVWUDZLOO SHUIRUP $GPLVVLRQ LV  IRU VWXGHQWVVHQLRUV

7XHVGD\V7KXUVGD\VDPSP 7KURXJK-XQH(XSKUDW0XVHXP93$& 7KLV H[KLELWLRQ IHDWXUHV SDLQWLQJV GUDZ LQJV PL[HGPHGLD ZRUNV SKRWRJUDSK\ JUDSKLF GHVLJQ VFXOSWXUH DQG FHUDPLFV FUHDWHGE\'H$Q]D&ROOHJHVWXGHQWV7KH H[KLELWLRQ LV SUHVHQWHG LQ FRQMXQFWLRQ ZLWK WKH *DOOHU\ DQG ([KLELWLRQ 'HVLJQ FODVV$ UHFHSWLRQ ZLWK DZDUGV ZLOO EH KHOG -XQH  IURPSP

$7)227+,//&2//(*( /*%7+(5,7$*(0217+

&XOWXUDOHQULFKPHQWDFWLYLWLHVFRPPHPRUDWH/HVELDQ *D\ %LVH[XDO  7UDQVJHQGHU +HULWDJH 0RQWK DW )RRWKLOOWKURXJKRXW-XQH 7XH-XQH-D\/HLEROG VSHDNHU

:HG-XQH&DUPHQ0LUDQGD/RRND/LNH&RQWHVW 7KX-XQH<RVLPDU5H\HV VSHDNHU

)UL-XQH0HPRULDO6HUYLFH :HG-XQH*UHJ6DUULV VSHDNHU

)RU WLPHV DQG ORFDWLRQV YLVLW KWWSZZZIRRWKLOOHGX QHZVKHULWDJHJOEWPSKS

+$33(1,1*6 6HQG QRWLFHV WR ODYR]#IKGDHGX E\ QRRQ :HGQHVGD\ SUHFHGLQJ WKH SXEOLFDWLRQ ZHHN 3OHDVH W\SH ´+DSSHQLQJVµLQWKHVXEMHFWOLQH/D 9R] GRHV QRW JXDUDQWHH SXEOLFD WLRQ$OOHYHQWVWDNHSODFHRQWKH'H $Q]D&ROOHJHFDPSXVDQGDUHIUHH XQOHVVVWDWHGRWKHUZLVH


1HZV

-XQH

/D9R]:HHNO\_

ODYR]GHDQ]DFRP '$%8'*(7)URPSDJH UHGXFHGE\7KHUHZLOO EH QR VFKRODUVKLSV DQG DZDUGV PD\ EH SURFHVVHG DQG UHFHLYHG ODWH6WXGHQWVPD\QRWEHDEOHWR EX\ERRNVLIDZDUGVDUHGHOD\HG 7KHILUVWIHZZHHNVRIVFKRRODUH FUXFLDOIRUUHWHQWLRQDQGGHOD\HG ILQDQFLDODLGUHZDUGVGRQRWKHOS &RRNVDLG :LWK D  SHUFHQW UHGXFWLRQ LQ VWDII WKH FRXQVHOLQJ GHSDUW PHQW ZLOO ORVH DERXW  KRXUV LQ VHUYLQJ VWXGHQWV :LWK UHGXFHGFRXQVHOLQJVWXGHQWVZLOO EH XQDEOH WR SODQ IRU WUDQVIHU RU JUDGXDWLRQ YHWHUDQV HVSHFLDOO\ QHHG SDUWLFXODU DWWHQWLRQ GXH WR KLJKO\ LQGLYLGXDOL]HG HGXFDWLRQ SODQV&RRNVDLG 5HGXFWLRQV LQ WKH 'LVDELOLW\ 6XSSRUW 3URJUDPV DQG 6HUYLFHV

GHSDUWPHQW RI 6WXGHQW 6HUYLFHV ZLOO PHDQ D GHFUHDVH LQ WKH ZLGH UDQJLQJ VHUYLFHV RIIHUHG DQG DPRXQW RI VWXGHQWV VHUYHG5HGXFWLRQVLQ+23('H $Q]D D SURJUDP WKDW KHOSV SUH SDUHMREVHHNHUVZLWKGLVDELOLWLHV IRUWKHZRUNIRUFHWKURXJKGDLO\ FODVVHV ZLOO EH PDGH LQVWHDG E\ WULPPLQJ WKH TXDUWHUO\ ILYH GD\ SHU ZHHN SURJUDP WR IRXU GD\V ´7KLV ZLOO DIIHFW FRQWLQXLW\ RI OHDUQLQJµ&RRNVDLG 6WXGHQW 'HYHORSPHQW WKH GHSDUWPHQW WKDW LQFOXGHV ([WHQGHG 2SSRUWXQLWLHV 3URJUDPV DQG 6HUYLFHV VWXGHQW OLIH RQ FDPSXV VWXGHQW GLVFL SOLQH VWXGHQW MXGLFLDO DIIDLUV LV VODWHG WR EH FXW E\  $ SRVVLEOH UHPRYDO RI WKH 'HDQ·V SRVLWLRQ ZLOO ´UHTXLUH PDMRU UHVWUXFWXULQJµ &RRN VDLG $

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·V GHJUHHDQGH[SHFWLQJWRWUDQVIHU <HWWKHIHDUDPRQJWKHDGPLQ

LVWUDWLRQLVWKDWZLWKVXFKDPLQL PDOLVWSLFWXUHRIWKHVHUYLFHVWKDW DUH OHIW DIWHU WKH ZRUVWFDVH VFH QDULREXGJHWFXWVHYHQWKHLGHDO WDUJHW 'H $Q]D VWXGHQW ZLOO QRW EHDGHTXDWHO\VHUYHG 7KH &ROOHJH &RXQFLO SODQV WR XWLOL]H WKH FROOHJH UHVHUYH IXQGV WR PRYH DKHDG ZLWK D IXOO\ IXQGHG VXPPHU DQG IDOO KRSLQJ IRU DQ DXJPHQWD WLRQ EDVHG RQ HQUROOPHQW VDLG 9LFH 3UHVLGHQW RI ,QVWUXFWLRQ &KULVWLQD(VSLQRVD3LHE 7KH&RXQFLOPRYHG´WRDFFHSW WKH EXGJHW UHGXFWLRQV ZLWK WKH XQGHUVWDQGLQJ WKDW WKH FROOHJH FDQQRW IXQFWLRQ XQGHU VXFK FRQ GLWLRQVµ VDLG LQFXPEHQW 9LFH 3UHVLGHQW RI '$6% 6HQDWH 1HHVKD7DPEH &RQWDFW$GLW\7LEUHZDODDW ODYR]#IKGDHGX

-RLQ/$92=:((./<WKLVVXPPHU 6LJQXSIRUWKHVL[ZHHN-285VXPPHUVHVVLRQFODVVPHHWLQJ7XHVGD\VDQG 7KXUVGD\VIURPSPWRSP-XQH$XJXVW/HDUQWRWDNHEHWWHU SKRWRJUDSKV:ULWHQHZVIHDWXUHDQGRSLQLRQVWRULHV /D9R]:HHNO\ZLOODFFHSWDSSOLFDWLRQVIRUVXPPHUHGLWRULDOSRVLWLRQVXQWLO-XQH (PDLO/D9R]:HHNO\$GYLVHU%HWK*UREPDQDWJUREPDQEHWK#GHDQ]DHGX ,QFOXGHWKHSRVLWLRQ\RX·UHLQWHUHVWHGLQDQG\RXUUHOHYDQWTXDOLÃ&#x20AC;FDWLRQV

*5$17)URPSDJH SURWRW\SHVDQG,·PJRLQJWRWDNHDFODVVQH[WZHHN RQWKUHHGLPHQVLRQDO&$'ILOHVµ%DLQVDLG :LQQLQJWKHFRPSHWLWLRQLVRQO\WKHEHJLQQLQJIRU KHUVKHKDVDOUHDG\VSHQWIRUYDULRXVVWDUWXS H[SHQVHVEXWZLOOQHHGDQRWKHULQRUGHUWR WDNHWKLVLGHDDQGPDNHLWLQWRDUHDOEXVLQHVV ,Q LWV IRXUWK \HDU WKH )RRWKLOO %XVLQHVV 3ODQ &RPSHWLWLRQ·V JRDO LV WR ´VLPXODWH WKH UHDOZRUOG SURFHVV RI HQWUHSUHQHXUV VROLFLWLQJ VWDUWXS IXQGV IURPHDUO\VWDJHLQYHVWRUVDQGYHQWXUHFDSLWDOILUPVµ ZKHQLWFRPHVWRWKH´SRWHQWLDOFRPPHUFLDODSSOLFD WLRQ RI WKH LGHD WKH VWUHQJWK RI WKH PDQDJHPHQW WHDPDQGWKHFODULW\DQGSHUVXDVLYHQHVVRIWKHZULW WHQ SODQ DQG RUDO SUHVHQWDWLRQµ DV VWDFNHG RQ WKH )RRWKLOO(QWUHSUHQHXU&HQWHUZHEVLWH 7KHUHZDVDWRWDORIFRQFHSWSDSHUVWXUQHGLQ RI ZKLFK  ZHUH DFFHSWHG WR PRYH RQ WRZDUG WKH FKDQFH RI PDNLQJ LW WR WKH ILQDO URXQG$ SDQHO RI RYHUMXGJHV²HDFKRIWKHPDEXVLQHVVOHDGHURU YHQWXUH FDSLWDOLVW² ORRNHG RYHU WKH FRQWHVWDQWV DQG MXGJHG ZLWK WKH QRWLRQ RI ZKLFK WHDP WKH\ ZRXOG PRVWOLNHO\LQYHVWWKHLUPRQH\ 7KH FRPSHWLWLRQ DQG VFKRODUVKLSV JDYH %DLQ D MXPSVWDUWRQWRKHUMRXUQH\%XWLWGHILQLWHO\ZRQ·W EH DQ HDV\ RQH LW ZLOO PRVW OLNHO\ EH ILOOHG ZLWK ULVNVXQFHUWDLQW\DQGSRVVLEO\IDLOXUH ´2K IDLOXUH ZLOO GHILQLWHO\ EH SDUW RI WKH HTXD WLRQµ VDLG *OHQQ 9LROHWW D EXVLQHVV SURIHVVRU DQG GLUHFWRURIWKH)RRWKLOO(QWUHSUHQHXU&HQWHU´,IWKH\ GRQ·WIDLOKRZDUH\RXJRLQJWROHDUQ"µ -LOO %UH\PDQQ ZRQ VHFRQG SODFH DQG D  VFKRODUVKLS IRU WKH 3DZV &ODXVH SURMHFW 0LFKDHO 1JX\HQ ZRQ WKLUG SODFH DQG D  VFKRODUVKLS IRUWKH0U(QJOLVKSURMHFWDQGWKHILQDOLVWVLQFOXGHG -DVRQ :LPS IRU WKH 7XUWOH 6KHOO +HOPHW DQG 6DP =XRDQG:HVWRQ0F9LFNHUIRUWKH,]EL]LSURMHFW &RQWDFW+HOHQ.RKDWODYR]#IKGDHGX


$UWV &XOWXUH

-XQH

_/D9R]:HHNO\

ODYR]GHDQ]DFRP

&&3RIIHUVIRRGUDIIOHSUL]HVFDNHDW ILQDOPHHWLQJIRUWKHTXDU WHU\HDU 0,&+$(/0$11,1$ (',725,1&+,()

´, ZLVK , ZRXOG KDYH EHHQ GRLQJ WKLV ORQJHUµ ZDV WKH WKRXJKW RI WKH GD\ DW WKH ILQDO JHW WRJHWKHU IRU WKH &URVV &XOWXUDO 3DUWQHUV SURJUDP LQ &DPSXV &HQWHU &RQIHUHQFH 5RRP%7KXUVGD\ 3DUWQHUVIURPWKHSURJUDPVSRNHDERXWWKHLUWLPHOHDUQLQJ IURP RQH DQRWKHU DQG KRZ LW OHG WR EUHDNWKURXJKV LQ WKHLU SHUVRQDOOLYHV 0DL7UDQDQG9DLPDQ6KXPVSRNHDERXWWULSVWRWKHVXSHU PDUNHWWRJHWKHU6KXPDÀUVWWLPH&&3SDUWLFLSDQWVDLGVKH ZRXOG SDUWLFLSDWH LQ WKH SURJUDP DJDLQ EXW WKLV LV KHU ODVW TXDUWHUDW'H$Q]DPDMRULQJLQDFFRXQWLQJ 7DL7UDQZDVHQFRXUDJHGWRMRLQ&&3E\KLVLQVWUXFWRU0D ULD0DULQ+LVÀUVWWLPH7UDQVDLGKHWKRURXJKO\HQMR\HGKLV WLPH +H ZLOO EH UHWXUQ LQ WKH IDOO DQG SODQV WR UHMRLQ WKH SURJUDPDVRIWHQDVSRVVLEOHKHVDLG 'XQFDQ&RRNDQG.KDQK3KDQVSRNHDVDWWHQGHHVOLVWHQHG ´&&3LVRQHRIWKRVHWKLQJV,·YHEHHQPHDQLQJWRGR´VDLG &RRN´,ZLVK,·GEHHQGRLQJLWORQJHUµ 7KHHYHQWFXOPLQDWHGZLWKDFDNHUDIÁHDQGDXFWLRQ7KH UDIÁH DQG DXFWLRQ UDLVHG IXQGV WR KHOS SD\ IRU IRRG DW WKH HYHQWDQGWRUDLVHIXQGVIRU&&3LQWKHXSFRPLQJ\HDU'XU LQJWKHDXFWLRQ-RKQ/LXELGIRU&&3SDUWLFLSDQW&KULV=KHQJ RQDEURZQSXUVH7KHSXUVHPHGLXPVL]HGZLWKKDQGOHVDQG DEXFNOHRQWKHRXWVLGHLVWREHDJLIWIRU=KHQJ·VPRWKHU )RRG ZDV ERXQWLIXO ZLWK GLVKHV IURP UHVWDXUDQWV LQ WKH 2DNV6KRSSLQJ&HQWHUDQG8QD0DVVXSSO\LQJIRRG )RU PRUH LQIRUPDWLRQ RQ &URVV &XOWXUDO 3DUWQHUV DQG KRZWRDSSO\WRWKHSURJUDPJRWRKWWSZZZGHDQ]DHGX FFSDUWQHUV

&RQWDFW0LFKDHO0DQQLQDDWODYR]#IKGDHGX

1,&.*21=$/(63+272(',725_/$92=:((./<

+(//27+(5( /()7 &&3SDUWQHUV'XQFDQ&RRNDQG.KDQ3KDQK ORZHUOHIWDQGORZHUULJKW HDWDQGWDONZLWKRQHDQRWKHU &$.(3/($6( 5,*+7 )URPOHIW6XNL:RQJ-RKQ/LXDQG*ORULD+HLVWHLQFXWDQGVHUYHFDNHDWWKH&&3)LQDO*HW7RJHWKHU7KXUVGD\

(1'2)<($5)DFXOW\DQGPHPEHUVRI&&3WDNHWLPHRXWIURPWKHIHVWLYLWLHVWRSRVHIRUDSKRWRDWWKHLUODVWHYHQWRIWKH\HDU

8G8O&@DG8:Kjkl[\ekj[f[XeZ\#

]`cd#jgfb\enfi[j_fnZXj\

]fi8j`XeGXZ`]`Z8d\i`ZXe

?`jkfipDfek_

381&+,7287 /()7 )URPOHIW-D\5'H*X]PDQ0LFKHOOH9DTXLOD&KULV 'HYHUDDQG$XVWLQ*XDQ]RQRI/RRSNLFNVVKRZRIIPDUWLDODUWVKDQGZRUN LQ&RQIHUHQFH5RRP%0D\ 632.(1:25'67$5 %27720/()7 (QJOLVKLQVWUXFWRU0DUVKDOO+DWWRULSHU IRUPVDVSRNHQZRUGSLHFH´<HOORZ,QVLGHDQG2XWµ,WVDLPLVWRHUDGLFDWH VWHUHRW\SHVDERXW$VLDQ$PHULFDQVDQGWKHSUHVVXUHWKH\IHHOJURZLQJXS LQ$PHULFDWRFRQIRUPWR$PHULFDQVWDQGDUGV /,)7$1'78&. %27720 /RRSNLFNV·.KDQJ9XGRHVDGRXEOHOHJVKRZLQJ RIIKLVDFUREDWLFVIRUKLVGDQFHVROR

1,&.*21=$/(63+272(',725_/$92=:((./<


$UWV &XOWXUH

-XQH

/D9R]:HHNO\_

ODYR]GHDQ]DFRP

%RXQWLIXOMR\DW%68%%4 %ODFN6WXGHQW8QLRQKRVWV0HPRULDO'D\FHOHEUDWLRQWRSURPRWHGLYHUVLW\ (',/%$55(72 )5((/$1&(5

'H $Q]D &ROOHJH·V %ODFN 6WXGHQW 8QLRQ FOXE JDWKHUHG RQ 0D\  LQ &XSHUWLQR·V -ROO\PDQ 3DUN 7KH FOXE ZDV FHOHEUDWLQJ LWV VHFRQG DQQXDO %68.LFNEDFN,QWKHODVWWZR\HDUV WKH %68 FOXE OHG E\ SUHVLGHQW 2ULW 0RKDPHG UHLWHUDWHG WKH JRDO RI WKH FOXEWRH[SORUHDVSHFWVRIWKH$IULFDQ $PHULFDQFXOWXUHZLWKWKHFRRSHUDWLRQ RIHDFKFOXEPHPEHU %68 PHHWV HYHU\ 7KXUVGD\ DIWHUQRRQ IURP  WR  SP DW WKH &DOLIRUQLD +LVWRU\ &HQWHU 0RKDPHGH[SUHVVHGWKHSHUVHYHUDQFH WKDW VKH DQG KHU FROOHDJXHV KDG WR HQGXUHGZKLOHVWDUWLQJWKH%68 ´:H ZDQWHG WR VKRZ ZKDW %68 FRXOG EH LQ 'H$Q]D DQG SHRSOH MXVW VWDUWHGFRPLQJµ0RKDPHGVDLG



7KH ZHOFRPLQJ KDQGV RI 'H $Q]D·V RQO\ $IULFDQ $PHULFDQ FOXE PRWLYDWHV$IULFDQ$PHULFDQ VWXGHQWV WR EH SDUW RI VRPHWKLQJ WKDW ZLOO PDNH D GLIIHUHQFH LQ WKHLU OLYHV 7KH FOXE VHUYHV D SRVLWLYH LQIOXHQFH WR WKH DFDGHPLFDOO\ VWUXJJOLQJ $IULFDQ $PHULFDQVWXGHQWVZKRILQGWKH%68 DSODFHWREHLQVSLUHG0RKDPHGVDLG ´:H PDNH D GLIIHUHQFH WR RWKHUV EHFDXVH ZH SURYLGH D VHQVH RI FRPPXQLW\µ 0RKDPHG VDLG 7KH FOXE HQMR\HG VRFLDOL]LQJ ZLWK HDFK RWKHU LQ WKH FRPIRUWDEOH ZHDWKHU 0HPEHUVSOD\HGFDWFKZLWKDIRRWEDOO LQ WKH EULJKW JUHHQ JUDVV WKDW FRXOG RQO\H[LVWLQWKHVSULQJ ´7RGD\ ZH·UH WU\LQJ WR SURYLGH WKH RSSRUWXQLW\IRURXUFOXEWRKDYHIXQµ VDLG%68FRDGYLVRU0F7DWH6WURPDQ $FFRUGLQJWRHGXFDWLRQGHSDUWPHQW

RUJ $IULFDQ $PHULFDQ VWXGHQWV FRQWULEXWH WR RQO\ WKUHH SHUFHQW RI 'H$Q]D·VVWXGHQWSRSXODWLRQ ´:LWK WKH ORZ QXPEHU RI $IULFDQ $PHULFDQVLQ'H$Q]DRXUFOXEJLYHV WKH VHQVH RI IDPLO\ DQG LQFOXVLRQµ 6WURPDQVDLG )RU PDQ\ PHPEHUV WKH %68 LV EHQHILFLDO ´%68WHOOV\RXZKDW'H$Q]DKDVWR RIIHU7KH\JRWDOOWKHFRQQHFWLRQVµ VDLG/DZPDMRU+D\DW$OODP %68 PHPEHUV HQMR\ PHHWLQJ ZLWK HDFKRWKHUHYHU\7KXUVGD\DIWHUQRRQDQG ORYHFHOHEUDWLQJWKHLUXQLW\DW'H$Q]D ´:H EULQJ HYHU\ERG\ WRJHWKHUµ 0RKDPHGVDLG 3+2726&2857(6<2).(,7++8%%$5'

&RQWDFW(GLO%DUUHWRDW ODYR]#IKGDHGX

'H$Q]D)DQLPH FRVSOD\LQ·DURXQG



1,&.*21=$/(6 3+272(',725

)HHGLQJ WKH KRPHOHVV LV QR HDV\ WDVN EXW 1DUD\DQDQ .ULVKQDQGRHVLWWKUHHWLPHVD GD\HYHU\GD\ 6LQFH  .ULVKQDQ VHW XSWKH$NVKD\D7UXVWFKDULW\ ZKLFKIHHGVEDWKHVDQGORYHV WKH KRPHOHVV DQG HOGHUO\ RI 0DGXUDL,QGLD 6RXWK$VLDQV IRU 3HDFH FRO RUIXOO\GDQFHGVDQJDQGVWUXW HG GRZQ WKH FDWZDON WR UDLVH DQ H[FHVV RI  IRU WKH$N VKD\D7UXVWGXULQJLWVWKLUGDQ QXDO&RORUVRI6RXWK$VLDEHQ HÃ&#x20AC;W GLQQHU KHOG LQ FRQIHUHQFH URRPV$DQG%RQ7KXUVGD\ .DOL7DQLNHOODSUHVLGHQWRI 6$3 ZDQWHG D VPDOO RUJDQL ]DWLRQWRGRQDWHWRZKHUHVKH FDQ WUXVW WKDW WKH PRQH\ GR QDWHGZLOOJRWR´QREOHµXVH &11 OLVWHG .ULVKQDQ DV RQHRIKHURHVRIWKLVZRUOG LV  +H LV DOVR 6DFKLQ 5DGKDNULVKQDQ·V FRXVLQ D 6$3PHPEHU /DVW \HDU 6$3 JHQHUDWHG  GROODUV IRU 2PHLG ,Q WHUQDWLRQDOIRUFKLOGUHQLQDQ JXLVKLQ$IJDQLVWDQ &RQWDFW1LFN*RQ]DOHVDW ODYR]#IKGDHGX

6$&.+231HZDQGROG'$6%VHQDWRUV&ULVWLDQ$JXLODU%DODUDP )HGFKHQNRDQG$OL0DVRRGFRPSHWHLQDVDFNUDFH .((32178**,1·%68PHPEHUVDQGJXHVWVSOD\DJDPHRI7XJ 2:DULQDQDWWHPSWWRWRSSOHWKHRSSRVLWLRQ

3+272&2857(6<2)5$,1,(5)$/&2

$1'7+(&/$:6&20(287)DQLPHDFRQYHQWLRQKHOGLQGRZQWRZQ 6DQ-RVHKRVWHGDYDULHW\RIFRVSOD\HUVZKRGUHVVHGDVWKHLUIDYRULWH FKDUDFWHUV+HUHDFRQYHQWLRQDWWHQGHHVKRZFDVHVWKHIHURFLW\RIKLV :ROYHULQHFRVWXPH

721<%$55$=$ 67$)):5,7(5

.$7+$.-LQDO6KDKSHUIRUPVNDWKDNGDQFHLQWKHILIWKDFWRI&RORUVRI6RXWK$VLDLQ &RQIUHQFH5RRPV$DQG%

1,&.*21=$/(63+272(',725_/$92=:((./<

381-$%,35(6(1&(7KH'H$Q]D*LUOV%KDQJUD-LQDO6KDK.DOL7DQLNHOOD/HHOD7DQNHOODDQG5DQL7LUXYHHGKXODKDYH SHUIRUPHGDWORFDOKLJKVFKRROVDURXQG&XSHUWLQR2Q7KXUVGD\WKH\FHOHEUDWH&RORUVRI6RXWK$VLDEHQHILWGLQQHUZKHUHDOO SURFHHGVJRWRZDUGFKDULW\

7KLV0HPRULDO'D\ZHHNHQG 6DQ-RVHZDVVZDUPHGE\PDLGV WUROOVELVKRXQHQDQGDYDULHW\RI RWKHUFKDUDFWHUVGXULQJLWV\HDUO\ )DQLPH&RQYHQWLRQ +RVWHGLQWKH6DQ-RVH0F(Q HU\ &RQYHQWLRQ &HQWHU )DQLPH LVDFHOHEUDWLRQRI-DSDQHVHDQL PDWLRQ YLGHR JDPHV DQG RWKHU ELWVRIQHUGFXOWXUH $FWLYLWLHV LQFOXGHG EXW ZHUH QRW OLPLWHG WR D GHDOHU·V KDOO VHOOLQJ -DSDQHVH LPSRUW PHU FKDQGLVHDQDUWLVW·VDOOH\IXOORI SDLQWHUVFDUWRRQLVWVDQGGUDZHUV VHOOLQJ SULQWV DQG WDNLQJ FRP PLVVLRQV DV ZHOO DV D JDPLQJ KDOO IRU SDUWLFLSDQWV WR LQGXOJH LQYLGHRJDPHVDQGERDUGJDPHV $OVR LQFOXGHG ZHUH SDQHO GLVFXVVLRQV ZLWK D ZLGH DUUD\ RIWRSLFVIURP´*LUOV:KR/LNH *X\V :KR 3XQFK *X\Vµ WR ´&WKXOX)RU3UHVLGHQWµ 7KH KLJKOLJKW IRU PDQ\ ERWK DWWHQGLQJDQGPHUHO\GULYLQJE\ ZDV WKH FRVSOD\ &RVSOD\ LV WKH DFW RI GUHVVLQJ OLNH D FKDUDFWHU

IURP DQ DQLPDWHG VHULHV YLGHR JDPHRURWKHUHQWHUWDLQPHQWPH GLD²DOOLQRUGHUWRFHOHEUDWHLW &RVSOD\HUV DV WKH\·UH FDOOHG FRQVWDQWO\KDQJRXWVLGHWKHFRQ YHQWLRQ FHQWHU IRU SXEOLF DQG SULYDWH SKRWR VKRRWV LQ RUGHU WR VKRZ RII WKHLU FRVWXPH DQG WR HQMR\ WKH FRPSDQ\ RI RWKHUV ZKRHQMR\WKDWVSHFLÃ&#x20AC;FVHULHV 1R PDWWHU ZKDW WKH UHDVRQ LV IRU JRLQJ )DQLPH DOZD\V SUR YLGHV DQ HQWHUWDLQLQJ WLPH IRU WKRVHZKRDWWHQG 3OHQW\ RI 'H $Q]D &ROOHJH VWXGHQWV DWWHQGHG )DQLPH DV ZHOOPDQ\DVDFWLQJPHPEHUVRI WKHFROOHJH·V$QLPH&OXE ´,JREHFDXVHLWKDVEHFRPHD WUDGLWLRQ DPRQJVW P\ JURXS RI IULHQGV 7KLV ZDV P\ Ã&#x20AC;IWK \HDU JRLQJµ *UDSKLF GHVLJQ PDMRU 1DWVXNL.DQDJDNLVDLG ´,GRQ·WUHDOO\KDYHDIDYRULWH SDUWRI)DQLPHµVDLG.DQDJDNL ´,UHDOO\ORYHDOORILWWKHSHRSOH WKHDWPRVSKHUHHYHU\WKLQJµ &RQWDFW7RQ\%DUUD]DDW ODYR]#IKGDHGX


$UWV &XOWXUH

-XQH

_/D9R]:HHNO\

ODYR]GHDQ]DFRP

&DPSXVIDVKLRQ

6SULQJLVKHUHVRLW·VWLPHWRGLWFKWKDWPXQGDGH-DQVSRUW EDFNSDFNDQGRSWIRUDEULJKWHUVPRRWKHUEDJ

5$1,(5)$/&2_/$92=:((./<

$Q\ IDVKLRQDEOH JLUOZLOOWHOO\RXWKDWLI\RXZDQWEHVW\OLVK FKRRVHRQHJRRGEDJWKDWFDQJRZLWKHYHU\WKLQJ6RZK\ QRWH[WHQGWKDWWRZDUG\RXUEDFNSDFN"

:K\VSRUWDVLQJOHFRORUHG+LMDE"3ULQWHG+LMDEVFDQXSOLIW HYHQWKHFRPÃ&#x20AC;HVWRIRXWÃ&#x20AC;WV

&/8%352),/(

'H$Q]DFOXE RIIHUVVXSSRUWDW 6DOYDWLRQ$UP\ $1'5(:38&.(77 67$)):5,7(5

$ JDWKHULQJ RI HDJHU 'H $Q]D &ROOHJH LQWHUQDWLRQDO VWXGHQWV YROXQWHHUHG WR VRUW GHFRGH DQG UH ODEHO D ODUJH FROOHFWLRQ RI GRQDWHG VOLJKWO\ GHQWHG FDQQHG IRRG LWHPV IRU WKH 6DOYDWLRQ $UP\ RQ 0D\  7KH VWXGHQWV EHORQJHG WR ,QWHUQDWLRQDO 6WXGHQW 9ROXQWHHUV D 'H $Q]D FOXE WKDW HQFRXUDJHV LQWHUQDWLRQDO VWXGHQWV WR JHW LQYROYHG LQ WKH $PHULFDQ VRFLHW\ WKURXJK YROXQWHHULQJ LQ VFKRRO DQG WKHORFDOFRPPXQLW\ ³:HKDGRXUJURXSFRPHWRJHWKHU WR ODEHO IRRG IRU SHRSOH ZKR FDQ¶W PDNHHQGVPHHW´VDLGH[WHUQDOYLFH SUHVLGHQWRIWKH,69/XNH1JX\HQ $ERXWVWXGHQWVJDWKHUHGDWWKH GRZQWRZQ6DQ-RVH6DOYDWLRQ$UP\ ORFDWLRQ DQG SURFHVVHG VHYHUDO WKRXVDQG FDQV RI IRRG 7KH\ ILUVW VWDUWHG E\ JURXSLQJ VLPLODU FDQV WRJHWKHUGHFRGHGWKHDOSKDQXPHULF FRGH RQ WKH WRS RI WKH FDQ WKHQ DSSO\LQJWKHDSSURSULDWHODEHORQWKH FDQV:KHQFDQVZHUHDSSURSULDWHO\

ODEHOHG WKH\ ZHUH WKHQ QHDWO\ VWDFNHG LQ PLON FUDWHV DQG WDNHQ WRWKH6DOYDWLRQ$UP\¶VSDQWU\ 7KH VWXGHQWV EURNH LQWR ILYH JURXSV RI ILYH DQG HDFK JURXS VRUWHG WKURXJK IRXU ODUJH EDUUHOV IXOO RI IRRG (DFK JURXS GHYHORSHG LWV RZQ PHWKRG RI VRUWLQJ DQG ODEHOLQJ WKH FDQV DOORZLQJ IRU D VPDOO DPRXQW RI FRPSHWLWLRQ EHWZHHQ WKH JURXSV 7KH 6DOYDWLRQ $UP\ ZDV WKH WUXH ZLQQHU DW WKH HQG RI WKH HYHQW DIWHU WKH ,69 FOXE DQG LWV YROXQWHHUVILQLVKHGWKHLUZRUN ³:H JHW D GHOLYHU\ RI GRQDWHG >FDQQHG@ JRRGV IURP 'HO 0RQWH :H VRUW WKHP WKURZ DZD\ ZKDW QHHGVWREHWKURZQDZD\DQGNHHS WKHUHVWWREHJLYHQRXWWKURXJKRXW WKHZHHN´6DOYDWLRQ$UP\3DQWU\ $VVRFLDWH .HQQ\ .QLFNHUERFNHU VDLG³7KH6DOYDWLRQ$UP\VSHQGV D ORW RI PRQH\ WKURXJKRXW WKH \HDU EX\LQJ IRRG :LWK >WKHVH VWXGHQWV@ ZH VDYH VR PXFK PRQH\,W¶VDEOHVVLQJ´ &RQWDFW$QGUHZ3XFNHWWDW ODYR]#IKGDHGX

'H$Q]D&ROOHJH 0HQX -XQH 'LQLQJ6HUYLFHV 021'$<

Â&#x2021; 0LQHVWURQH6RXS Â&#x2021; $VLDQ&KLFNHQZLWK 6FDOOLRQV 6HVDPH 'UHVVLQJ3L]]D Â&#x2021; &KLQHVH&KLFNHQ6DODG Â&#x2021; %HHI6WURJDQRII

78(6'$<

Â&#x2021; %URFFROL &KHGGDU 6RXS Â&#x2021; +DPEXUJHU&KHGGDU 3L]]D Â&#x2021; 6DODG%ODFN%HOXJD /HQWLOV&XPLQ5RDVWHG &KLFNHQ7RDVWHG3LQH 1XWV6XQ'ULHG7RPDWR &LODQWUR6SULQJ0L[+DU ULVD9LQDLJUHWWH

Â&#x2021; 6RXWKZHVWHUQ3DVWD

:('1(6'$<

Â&#x2021; %HHI9HJHWDEOH6RXS Â&#x2021; 0DUJDULWD3L]]D Â&#x2021; 6DODG6SULQJ*UHHQV )UHVK$SSOH&DQGLHG :DOQXWV&UDQEHUULHV %OHX&KHHVHZLWK2LO  %DOVDPLF'UHVVLQJ Â&#x2021; :RUOG5LVRWWR/HED QHVH%UDLVHG/DPE 5LVRWWR6XQGULHG7R PDWR*DUEDQ]R%HDQ )HWD&KHHVH5RDVWHG 3LQH1XWV D&RUDLQGHU &XPLQ<RJXUW

)RUDOORI\RXU RQFDPSXVGLQLQJQHHGV YLVLWWKH)22'&2857 LQWKHXSSHUOHYHO RIWKH+LQVRQ&DPSXV&HQWHU

7+856'$<

Â&#x2021; 7RUWHOOLQL9HJHWDEOH 6RXS Â&#x2021; 6XQGULHG7RPDWR &DUDPHOL]HG2QLRQ  )HWD3L]]D Â&#x2021; 6RXWKZHVWHUQ&KLFNHQ 3DVWD Â&#x2021; %URFFROL%RZ7LH3DVWD

)5,'$<

Â&#x2021; &KHI¶V&KRLFH Â&#x2021; 1HZ(QJODQG &ODP&KRZGHU

%XUJHURIWKH:HHN =H*UHHN*UDVVIHG$QJXV%HHI)UHVK 7K\PHDQG2UHJDQR&XPLQ 6PRNHG3D SULND7]DW]LNL6SUHDGDQG$PHULFDQ&KHHVH


2SLQLRQ

-XQH

/D9R]:HHNO\_

ODYR]GHDQ]DFRP

/$92=:((./< (GLWRULDODQG$GYHUWLVLQJ 2IILFHVDUHORFDWHGDW /4XDG5RRP 6WHYHQV&UHHN%OYG &XSHUWLQR&$ 3   )   (ODYR]#IKGDHGX :ODYR]GHDQ]DFRP (',725,$/%2$5'

0LFKDHO0DQQLQD_(GLWRULQ&KLHI

$OL\DK0RKDPPHG_0DQDJLQJ (GLWRU'HSXW\(GLWRU $LO\D1DTYL_2SLQLRQ(GLWRU :LOOLDP)HUJXVRQ_1HZV)HDWXUHV(GLWRU 1LFN8WOH\_%URDGFDVW3URGXFHU 1LFN*RQ]DOHV_3KRWR(GLWRU ,VUDHO*XWLHUUH]_3URGXFWLRQ  0DQDJHU  'HVLJQ(GLWRU 9LYLDQ1JX\HQ_:HE(GLWRU

%86,1(6667$))

%HWK*UREPDQ_)DFXOW\$GYLVHU JUREPDQ#IKGDHGX :DOWHU$OYDUGR_/DE7HFKQLFLDQ DOYDUDGRZDOWHU#IKGDHGX -XOLD(FNKDUGW_%XVLQHVV0DQDJHU ODYR]DGYHUWLVLQJ#JPDLOFRP

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

/HDUQLQJWRFRH[LVWWKURXJKNQRZOHGJH $,/<$ 1$49,

23,1216(',725

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

³ODZ´QRZKHUHLQWKHWLWOHGRHV LWVD\WKDWWKHFODVVLVEDVHGRQ RQO\WKHUHOLJLRQRI,VODP7KLV FRXUVH LV VLPSO\ H[SORULQJ WKH PDQ\ GLIIHUHQW LQWHUSUHWDWLRQV RI 6KDULDK ODZ DQG WR HOLPL QDWH WKH PDQ\ PLVXQGHUVWDQG LQJVWKDWOHDGWRVWHUHRW\SHVDQG WKH SUHYDOHQFH RI LJQRUDQFH &ODVVHV EDVHG RQ UHOLJLRQ KROG DYDULHW\RIEHQHILWV .DUO0DU[VDLGWKDWUHOLJLRQ LV WKH RSLDWH RI WKH PDVVHV :KHQ SHRSOH DUH LQ GLVWUHVV UHOLJLRQ PD\ SURYLGH VRODFH 6WXG\RIWKHZRUOG¶VUHOLJLRQV LQFXOFDWHV FXOWXUDO VHQVLWLYL WLHV DPRQJ VWXGHQWV  &ODVVHV VWUDGGOHWKHERXQGDU\EHWZHHQ REMHFWLYH HYLGHQFH DQG VXE MHFWLYH H[SHULHQFH ZKHWKHU RQ ,VODP &KULVWLDQLW\ RU -XGDLVP5HOLJLRXVFODVVHVDUH ULJRURXVO\ DQG SOD\IXOO\ RSHQ WRDPXOWLFXOWXUDODQGLQWHUQD

WLRQDOZD\RIEHLQJWKDWEXUVWV WKH ERXQGDULHV RI WKH FRQ YHQWLRQDO DQG WKH HYHU\GD\ 7DNLQJFODVVHVRQUHOLJLRQZLOO KHLJKWHQOHYHOVRIXQGHUVWDQG LQJDPRQJGLYHUVHSHRSOHV

7DNLQJFODVVHV RQUHOLJLRQZLOO KHLJKWHQOHYHOV RIXQGHUVWDQGLQJ DPRQJGLYHUVH SHRSOH )RUWXQDWHO\'H$Q]DFXUUHQW O\RIIHUV&RPSDUDWLYH5HOLJLRQ 0DQ\ VWXGHQWV ULJKWIXOO\ WDNH DGYDQWDJHRIWKLVRSSRUWXQLW\WR OHDUQDERXWWHDFKLQJVRIYDULRXV UHOLJLRQV WKDW PDNH XS GLYHUVH VRFLHWLHV LQFOXGLQJ KLVWRU\ PDMRU3HUU\+H\HU ³7KH JUHDW WKLQJ DERXW >WKLV FODVV@ LV WKDW LW KHOSV GHVWUR\

PLVFRQFHSWLRQVDQGDOORZVSHR SOH WR VHH WKH WUXH EDFNJURXQG RI YDULRXV UHOLJLRQV DQG WKHLU EHOLHIV,W¶VDEHQHILFLDOFODVVWKDW KHOSV GHVWUR\ LJQRUDQFH DPRQJ SHRSOH´VD\V+H\HU $FFRUGLQJ WR :HVWHUQ 0LFKLJDQ 8QLYHUVLW\¶V 'HSDUWPHQW RI &RPSDUDWLYH 5HOLJLRQ³WKHVWXG\RIFRPSDUD WLYH UHOLJLRQ LV XVHG WR VXUYH\ DQGXQGHUVWDQGWKHZRUOG¶VSDVW DQG SUHVHQW UHOLJLRQV DV ZHOO DVUDLVHTXHVWLRQVDERXWFXUUHQW DQG IXWXUH UHOLJLRXV SUDFWLFHV´ &DOLIRUQLD6WDWH8QLYHUVLW\SUR YLGHV D FDWDORJ OLVWLQJ RI VRPH RI WKH PRVW FRPPRQ QDPHV RI FRPSDUDWLYH UHOLJLRQ FRXUV HV 3HU )XOOHUWRQHGX WKHVH FRXUVH WLWOHV LQFOXGH 5HOLJLRQV RI WKH :RUOG 0DMRU &KULVWLDQ 7UDGLWLRQV WKH +RORFDXVW 7RSLFV LQ %XGGKLVP DQG$VLDQ 3KLORVRSK\

&ODVVHV EDVHG RQ VSHFLILF UHOLJLRQVDQGUHOLJLRXVWHDFKLQJV HQFRXUDJH WKH GHYHORSPHQW RI FUXFLDODSWLWXGHVVXFKDVFULWLFDO WKLQNLQJ FRPPXQLFDWLRQ FRP SHWHQFH LQWHUSHUVRQDO DZDUH QHVV DQG LQWHUFXOWXUDO OLWHUDF\ ± QHFHVVDU\ IRU VXFFHVV LQ D JOREDOVRFLHW\ )URP DQ DQWKURSRORJLFDO YLHZ XQGHUVWDQGLQJ RWKHU FXO WXUHVDQGUHOLJLRQVLVIXQGDPHQ WDOWRFRXQWHUDFWLQVXUJHQF\DQG HUDGLFDWHHWKQRFHQWULVP2QHRI WKH PDQ\ UHDVRQV ZK\ SHRSOH UHIXVH WR JHW DORQJ LQ VRFLHW\ LV EHFDXVH RI D ODFN RI XQGHU VWDQGLQJHDFKRWKHU¶VUHVSHFWLYH EHOLHIVDQGYLHZV.QRZLQJDQG XQGHUVWDQGLQJ WKH FXOWXUHV DQG UHOLJLRQV RI RQH DQRWKHU ZLOO SURPRWHKDUPRQ\ &RQWDFW$LO\D1DTYLDW ODYR]#IKGDHGX

/(77(5727+((',725

/HWWHUVWRWKHHGLWRUFDQEH VXEPLWWHGWRODYR]#IKGDHGX RUDWZZZODYR]GHDQ]DFRP /HWWHUVVKRXOGEHZRUGV RUOHVVOHWWHUVPRUHWKDQ ZRUGVPD\EHHGLWHGIRU OHQJWK/HWWHUFRQWHQWPXVW QRWEHOLEHORXVRULQWHQGHG WRDLUSHUVRQDOJULHYDQFHV/D 9R]GRHVQRWJXDUDQWHHWKDW VXEPLVVLRQVDQGOHWWHUVWRWKH HGLWRUZLOOEHSULQWHG/D9R] UHVHUYHVWKHULJKWWRHGLWOHWWHUV DQGVXEPLVVLRQVIRUFODULW\LQ DFFRUGDQFHZLWK$VVRFLDWHG 3UHVVZULWLQJVW\OH/HWWHUVVXE PLWWHGIRUWKHSULQWHGHGLWLRQ RI/D9R]:HHNO\PD\EHSXE OLVKHGLQWKHRQOLQHHGLWLRQ

$'9(57,6,1*

3UHVVUHOHDVHVDQGVXEPLVVLRQV FDQEHVXEPLWWHGWR ZZZODYR]GHDQ]DFRP /D9R]GRHVQRWJXDUDQWHH FRYHUDJHRIHYHQWVIRUZKLFK LWUHFHLYHVSUHVVUHOHDVHV &RQWDFW%XVLQHVV0DQDJHU -XOLD(FNKDUGWE\SKRQHDW RUHPDLOWR DGV#ODYR]GHDQ]DFRPIRU UDWHV5DWHVKHHWVFDQDOVREH IRXQGDW ZZZODYR]GHDQ]DFRP

3+2725(35,176

,PDJHVSXEOLVKHGLQ/D9R] :HHNO\RURQOLQHDWZZZ ODYR]GHDQ]DFRPDUHDYDLO DEOHIRUSXUFKDVH7HQOLPLWHG XVHGLJLWDOLPDJHVFDQEH REWDLQHGIRURU[SULQWV IRU&RQWDFW%XVLQHVV0DQ DJHU-XOLD(FNKDUGWWRSODFH DQRUGHU

/$92=&255(&7,21 ‡

2QSDJHIURPWKH0D\ LVVXHWKH0*ZDV LQFRUUHFWO\ODEHOHGDV D6XQEHDP7LJHULQWKH WRSSLFWXUH &DWFKDQHUURULQWKHSDSHU" &RQWDFWXVDWODYR]#IKGDHGX

,//8675$7,21%<*$/(12%$&.

&ROOHJHOLIHVW\OHÀ[LWRUOLYHLWXS" $,/<$ 1$49,

23,1,216(',725

&RPHKRPHIURPQLJKWFODVVHVJUDE VRPH WDNHRXW DQG PDNH IULHQGV ZLWK \RXUSRWRIFDIIHLQHRUDWKUHHOLWHUERWWOH RI &RFD &ROD %HLQJ FROOHJH VWXGHQWV WKLVVFHQDULRLVDOOWRRIDPLOLDUWRPRVW RIXV:LWKWKHSXUVXLWRIRXUFDUHHUVDQG VRFLDO OLYHV KHDOWK VHHPV WR EH LQ WKH ORZHVWLQRXUKLHUDUFK\RILPSRUWDQFHDW WKLVSRLQWLQRXUOLYHV $V WKH FOLFKp JRHV ROG KDELWV GLH KDUG ,QGHHG RQFH WKHVH KDELWV DUH IRUPHGDWD\RXQJDJHLWLVKDUGWRJHW ULGRIWKHPDVZHWDNHRXUÀUVWIHZVWHSV LQWRDGXOWOLIHDIWHUWKHFROOHJH\HDUV 6WXGLHVVKRZWKDWREHVLW\VWHPVIURP FKLOGKRRGGLHWV&RPPRQKHDOWKSURE OHPVLQDQLQGLYLGXDO·VOLIHFDQEHSUH YHQWHGE\IRUPLQJJRRGKDELWVHDUO\RQ 7HFKQLFDOO\ZHVKRXOGVWDUWNHHSLQJRXU OLIHVW\OHVLQFKHFNIURPD\RXQJHUDJH VRFROOHJHDJHLVDOUHDG\DELWODWH7KH GLDJQRVLVRIW\SHGLDEHWHVLVEHFRPLQJ LQFUHDVLQJO\FRPPRQLQ86NLGVDQG WHHQVHVSHFLDOO\LQWKRVHZKRDUHRYHU ZHLJKW6RPHVWXGLHVUHSRUWEHWZHHQ DQG  SHUFHQW RI FKLOGUHQ KDYH EHHQ GLDJQRVHGZLWKW\SHGLDEHWHV :KLOHPDQ\VWXGHQWVDUHVLPSO\´WRR

EXV\µWRSUHSDUHDKRPHFRRNHGPHDO WKLVGRHVQ·WPHDQWKDWMXQNIRRGLVWKH RQO\FKRLFH6WXGHQWVOLNHWRWKLQNWKDW :,//,$0 WKH\DUHWKHEXVLHVWSHRSOHRQHDUWK$QG )(5*8621 )($785(6(',725 SHUKDSVWKH\YHU\ZHOOPLJKWEH)URP FODVVHVWRPHHWLQJVDQGSUDFWLFHFROOHJH $PHULFDQSRHW&KDUOHV%XNRZVNLRQFH NLGVRIWHQKDYHDMDPSDFNHGVFKHGXOH ZURWH ´:H·UH DOO JRLQJ WR GLH DOO RI XV $OWHU \RXU GLHW VWDUW UHSODFLQJ OLWWOH ZKDWDFLUFXV7KDWDORQHVKRXOGPDNHXV E\ OLWWOH 0LONGULQNLQJ VWXGHQWV FRQ ORYHHDFKRWKHUEXWLWGRHVQ·W:HDUHWHU VXPHG  IHZHU FDORULHV DQG  URUL]HGDQGÁDWWHQHGE\WULYLDOLWLHVZHDUH IHZHU JUDPV RI IDW SHU \HDU DIWHU WKH\ HDWHQXSE\QRWKLQJµ PDGH WKH VZLWFK 3KLOLS $OEHUWL DQG ,JQRULQJ WKH VOLJKWO\ PRUELG XQGHUWRQHV FROOHDJXHVUHSRUWHGLQWKH-DQLVVXH %XNRZVNLZDVDQDGYRFDWHIRUOLYLQJOLIHWR RI WKH &'&·V 0RUELGLW\  0RUWDOLW\ WKHIXOOHVW$QGWKRXJKKHOLYHGGDQJHURXVO\ :HHNO\5HSRUW LQH[FHVVLYHOLTXRULOOLFLWGUXJVDQGOLFHQWLRXV /DFN RI VOHHS LV DQRWKHU FRPPRQ ZRPHQKLVK\SHUEROL]HGPHVVDJHEHJVUHDG KHDOWK FRQXQGUXP FRPPLWWHG E\ FRO HUVWRRQHWKLQJOLYHWRWKHIXOOHVW OHJH VWXGHQWV <RX FDQ·W RYHUHVWLPDWH ,QDDFFUHGLWDWLRQUHSRUWSHUFHQW WKHLPSRUWDQFHRIVOHHSWKRVHDOOQLJKW RI'H$Q]D&ROOHJH·VVWXGHQWERG\ZDVUH HUVZLOOHYHQWXDOO\JHWWKHEHWWHURI\RX SRUWHGDVOHVVWKDQ\HDUVROG2YHUKDOI ODWHURQLQOLIH RIWKHVWXGHQWSRSXODWLRQDWWKHFROOHJHLVLQ 7KLV LV QRW WR VD\ WKDW \RX QHHG WR WKHSULPHRIWKHLUSK\VLFDODQGFRJQLWLYHSUR EHFRPH D ZRUU\ZDUW DQG OLYH DW WKH FHVVHV J\PDQGFXWRXWDQ\WKLQJZLWKIDWFDOR $YHUDJH KXPDQV UHDFKHV WKHLU FRJQLWLYH ULHVLQ\RXUGLHW,I\RX·UHQRWWKHSHU SHDN LQ WKHLU HDUO\ WZHQWLHV 8QLYHUVLW\ RI IHFW PRGHO RI JRRG KHDOWK GRQ·W EHDW 9LUJLQLDSV\FKRORJ\SURIHVVRU7LPRWK\6DO \RXUVHOIXS7KHWULFNLVWRLQFRUSRUDWH WKRXVHVDLGLQDVWXG\SXEOLVKHGLQWKHMRXUQDO VPDOOKHDOWKIXOKDELWVLQWR\RXUFDPSXV RI1HXURELRORJ\RI$JLQJ+LVVWXG\VSDQ OLIH%\GRLQJVR\RX·OOIHHOEHWWHUERWK QLQJ\HDUVFRQFOXGHGWKDWQLQHRXWRI SK\VLFDOO\DQGHPRWLRQDOO\ WHVWVVKRZHGDQDYHUDJHWRSSHUIRUPDQFHDW )LUVWVLJQVRIPHQWDOGHFOLQHZHUHPDUNHG DWLQWKHVWXG\ &RQWDFW$LO\D1DTYLDW ODYR]#IKGDHGX :KHQ \RX·UH \RXQJ HQJDJH \RXU

\RXWK (PEUDFH WKH PHQWDO DQG SK\VLFDO SURZHVVJUDQWHGWR\RX 7DNHDOHVVRQIURP%XNRZVNL·VSOD\ERRN DQGOLYHLQWKHH[FHVVEXWZLWKDFRQWUROOHG UHVWUDLQW7KHUH·VQHYHUPRUHWLPHLQWKHOLIH RID\RXQJSHUVRQWRH[SORUHWKHEORVVRPLQJ RIOLIHSUHVHQWLQWKHZRUOGWKDQKHUWZHQWLHV ,W·VQRWDERXWH[SHULPHQWLQJZLWKGUXJV LQ$PVWHUGDP RU WDNLQJ D SHHN DW D SLQJ SRQJ VKRZ LQ %DQJNRN %XW QRZ LV WKH WLPHWRWUDYHO²WRWDNHVWRFNLQ\RXUVHOIDQG \RXUH[SHULHQFHV/HDUQIURPWKHZRUOGEH IRUH\RXDUH´ÁDWWHQHGE\WULYLDOLWLHVµ'R VRZKLOHQRWERXQGE\WKHREOLJDWLRQVWKDW SUROLIHUDWHODWHULQOLIH 6WXGHQWVPD\DOUHDG\KDYHREOLJDWLRQVWKDW ELQG WKHP WR D VWULFW VFKHGXOH EXW LW LV LP SRUWDQWWRQRWHWKDWWKHVHGRQ·WVKDFNOHOLIHLQ SODFH7KHUHDUHDOZD\VRSSRUWXQLWLHVWRHQMR\ WKH´FLUFXVµEHIRUHZH·UHHDWHQLIWKH\GRQ·W H[LVWLW·VXSWRPDNHWKHPVR +RZHYHUWKHUHLVVRPHWKLQJWREHVDLGIRU DEDODQFHGOLIHVW\OH,W·VQRWDERXWWRWDOUHSUHV VLRQEXWFRQWURO:RUNKDUGSOD\KDUG/LYH HDWGULQNDQGORYHIUHHO\EXWDOVRVWULYHIUHHO\ DQGVDIHO\ 3ULRULWL]HQRWRQO\ZRUNEXWSOD\ DVZHOO/HDYHWKHJXLOWEHKLQGDWHDWLQJWKDW EXUJHURULQGXOJHLQWKDWIURVW\OHPRQDGH :RUN LV DOZD\V D SULRULW\ EXW VR WRR LV SOD\VRWRRLVWKHGHOLJKWRIDPLONVKDNHDQG WKULOORIDVN\GLYH &RQWDFW:LOOLDP)HUJXVRQDW ODYR]#IKGDHGX


&RPLFV *DPHV

-XQH

_/D9R]:HHNO\

ODYR]GHDQ]DFRP

$QVZHUVIURPODVWZHHN

$FURVV

&URVVZRUG

&RPSLOHGE\7RQ\%DUUD]D

           

$VLQJOHWLPH $XWKRURISVDOPV 6KDEE\ )RRO 1RWLRQ 6QRZVWRUP 0HVVDJHVHQWE\ WHOHJUDSK 6RIWSXOS\DVV +HURLF 0HDQO\LQDGHTXDWH +DUPIXO 7LPEHU

           

(QYHORS *URZOLNHDSODQW 6WRXWSROH =RURDVWULDQLVP 6PRNHFRPELQHGZLWKIRJ /LQHRQDZHDWKHUPDS :LWKRXWDVDGGOH )RUPHUO\6RXWKHUQ5KRGHVLD ,QFUHDVHLQVL]H 5DUHO\ $UULYHG <HOORZPHWDOOLFHOHPHQW

7KHÀUVWWHQUHDGHUVWRVXEPLWD FRUUHFWFURVVZRUGZLOOUHFHLYH WZRIUHHWLFNHWVWR%OXH/LJKW 7KHDWUHV6XEPLWHQWULHV WRWKH/D9R]:HHNO\RIÀFHLQ URRP/

'RZQ

:LQQHUVIURP ,VVXH 

‡,QFOXGHQDPHDQGHPDLORQ  VXEPLVVLRQV ‡:LQQHUVSLFNLQJXSWLFNHWV  SOHDVHYLVLWWKHQHZVURRPRQ  WKHIROORZLQJGD\V 0RQGD\WKURXJK7KXUVGD\ DQ\WLPHDIWHUSP

-DVPLQH1DWKDQL

)3<,30./;*05,4(: 7LFNHWVRQO\ ZLWKDYDOLGVWXGHQW,'([FOXGHV ,QGLDQDQGVSHFLDOHQJDJHPHQWÀOPV

$IULFDQ&DWV +DQQD

-DQH(\UH /LPLWOHVV 7KH/LQFROQ/DZ\HU

6RXUFH&RGH 'LDU\RID:LPS\.LG 5RGULFN5XOHV

 

    *  *  



DQGPRUH )RUVKRZWLPHVYLVLWZZZEOXHOLJKWFLQHPDVFRPRUFDOO  6WHYHQV&UHHN%OYG&XSHUWLQR &XSHUWLQR2DNV6KRSSLQJ&HQWHU

%"&%# %&$&)   #(%&&#( )% #%& "#%& &"  &#"!$(& ('##%)"'(%%#%!&

%('%&" ('#" " "%&*    

! %% #"% % $$"'&))(((% $$"'&

0RQ ƒƒ

7XH ƒƒ

:HG

7KXU

ƒƒ

ƒƒ

)UL ƒƒ

6DW

6XQ

ƒƒ

ƒƒ

Issue08 Spring2011  

De Anza College’s First Amendment Student Press and Voice since 1967

Read more
Read more
Similar to
Popular now
Just for you