When did you start painting? How has the journey been so far?I started when I was four or five years old, as soon as I started understanding art. I used to borrow ideas from nature and sketch.What are the inspirations behind your paintings?I’m always attracted to soft, natural, delicate tones like you see in buds, butterflies, flowers, feathers and rivers. Working with dry pastels on canvas, my inspiration comes from the natural environment.My works are mostly in small formats, in mixed media, where use of pastel shows through in soft, soothing, serene hues. My work displays peace and tranquility in different forms. The abstract work is a display of life’s many moments which I cherish. Also Read – ‘Playing Jojo was emotionally exhausting’You have exhibited in various parts of the country. What response do you find at such places?I have exhibited at lots of places both nationally and internationally like various parts of India, South Korea, Singapore and my experience everywhere has been enriching. People have really appreciated my art and accepted my work with reverence.What is the inspiration behind the current exhibition?Behind ‘40 works of Hemant Rao’, are my different and varied experiences in life along with nature that keep on giving me new ideas and new dimensions. Also Read – Leslie doing new comedy special with NetflixBeing a self-taught artist, what are the ups and downs you have been through?I believe art comes naturally to you. I was born an artist. I really don’t feel any need to get formally trained by any institute. But yes, I would like to give credit to Prayag Shukla, my mentor, who has always shown me a different and unusual path that helps me.Any other exhibition that you are planning?I’m at the planning stage for my next works which are in 3D.What are your expectatiosn from art lovers?I would like to request all art lovers to keep on showing their love and support for young talents like me as their support acts as a great motivator.
A railing detail on the second floor of Unit 10. [Photo: Ayano Atsumi & Text: sa] Volunteer Erin Jeffries applies rust protective primer. [Photo: Ayano Atsumi & Text: sa] March 28, 2003METALSHOP: Welding manager Ron Chandler prepares posts for the installation of a railing on the third floor of Unit 9 and Unit 10 in the East Crescent complex. [Photo: Ania Gorka & Text: sa] Ron instructs welding student Leopoldo Angioli. [Photo: Ania Gorka & Text: sa] Leopoldi Angioli. [Photo: Ania Gorka & Text: sa]
David Haslingden, president and chief operating officer of Fox’s channels division, has stepped down and will leave the News Corp company at the end of the year. His departure follows a restructure at Fox Networks Group (FNG) announced last month that saw Peter Rice elevated to chairman and CEO.Under the new structure, Haslingden reports to Rice whereas previously he reported directly to News Corp’s president and chief operating officer Chase Carey.In a statement News said that Haslingden plans to “return to his native Australia and spend more time with his family”.He had only been in the president and COO role at FNG since last January when another restructure was implemented. That saw Tony Vinciquerra replaced by Haslingden. Prior to that Haslingden was running Fox’s international channels as CEO of its FIC division. Following the January restructure Rice and other senior Fox execs including David Hill and Mike Hopkins, all reported to Carey. Following the July restructure, Haslingden and Hopkins report directly to Rice as do Randy Freer and Eric Shanks, the co-presidents of Fox Sports Media Group who previously reported to Hill.Speaking about Haslingden’s departure, Rice said: “As we look to continue FNG’s incredible growth trajectory, our future successes will in many ways be the result of David’s innovative leadership over the last several years. He will be missed by all of us.”Haslingden said: “In a little over a decade we’ve built a behemoth internationally and in the last two years we’ve helped unify FNG and set it up for a future of super-charged growth. But as terrific as Fox and National Geographic are, my family is by far my greatest love, and being away from them for almost two years is long enough. I’m delighted to be on my way home.”
In This Issue… * Retail sales rise * ESM gives it to Cyprus * Loonie hitches a ride * Brazil by itself And, Now, Today’s Pfennig For Your Thoughts! April sales number took control… Good day…and welcome to Tuesday morning. It looks like spring is finally here to stay in the Midwest, or should I say hopefully, after a fairly chilly start of the season. I overheard someone talking on the desk that it has been the third coldest spring on record so far, but I’ll take that any day of the week instead of oppressive heat. The US dollar’s grip on the currency market remained firm, but most currencies were in a tight range for a majority of the day. The string of dollar strength continued as one of the heavy weight data prints from this week, which was retail sales, came in better than expected. That’s right, the April headline retail sales figure rose 0.1% and that was after the March number had been revised down to -0.5% from the original printing of -0.4%. This month’s figure was expected to come in at -0.3%, so it’s well above the initial forecast but I would call it a wash since the downward revision would offset the gain. Regardless, the financial markets liked the news but the impact was more muted than what I would have thought as stocks finished the day flat. Digging a little deeper into the results, the retail sales control group rose 0.5% from the upward revised March number of 0.1%. This report doesn’t include items such as gasoline and automobiles, but it does get used to calculate GDP so this will be the figure most economists focus on. In fact, 9 of the 13 sales categories yielded positive results, so it was a fairly broad scale increase. One of the few soft spots came from gas station receipts as lower fuel prices in April kept total sales grounded. According to AAA, regular gasoline in April averaged $3.55 as opposed to $3.69 in March. The one component in negative territory was the ex-auto report as it yielded a -0.1% result. With the better than expected April, economists are starting to increase their second quarter consumer spending calls, but they still remain on the tempered side. The continued effects of the higher payroll tax was one of the biggest reasons why initial estimates were lower. We also saw the measure of March business inventories remain static, but this report gets overlooked anyway unless there is any significant movement. The data cupboard is pretty bare today as we only see a gauge of small business optimism and the April import price index. The April business sentiment is expected to recoup most of last month’s decline after small business had indicated they had no plans of expansion or new job growth in the coming months. Most economists are thinking the higher April jobs number will sway small business into feeling more confident, but if you recall, the BLS added a ton of jobs to the report. Either way, small business is a huge part of the economy so we’ll see if there is any follow through. The cost of imported goods into the US are expected to match the March monthly number and show a decline on an annual basis. The average price of oil in March was $92.96 and the average in April was $92.07, so it would seem reasonable for import prices to remain subdued. The import price index is one of three monthly price or inflation reports that are released. We’ll see producer prices and consumer prices tomorrow and Thursday respectively. At the end of the day, we won’t see any market moving data out of the US today, so unless we get significant news elsewhere, I would expect things to continue floating in the same direction. I saw a report by the San Francisco Fed that studied the US labor participation rate and came to the conclusion it may take a few years before cyclical components apply upward pressure since payroll employment remains well below its pre-recession peak. The ratio was 63.6% in April and was the lowest level since May 1979. This figure has been one of the key reasons why the unemployment rate has dropped while employment gains have remained below levels that would justify such moves. The report went on to say that in the recoveries from the ’81-’82 and ’90-’91 recessions, the positive relationship didn’t emerge until the economy had passed the previous employment peak by a substantial margin. Anyway, I found that bit of info interesting. Moving over to currencies, the USD remained in the driver’s seat for another day as only one currency, the Brazilian real, finished the day firmly in positive territory. There were quite a few currencies within a fraction of a percent from gains, but as I mentioned up top, most currencies traded in a narrow window. The recent trading trend has been rewarding the dollar with positive US economic data as many feel it would force the Fed’s hand in reducing stimulus measures. I’m not sure it’s that easy, but that’s the current trend. The euro ended the day just barely in the red, but what I found more profound was its extremely tight range. In fact, the difference between the high and low of the day was less than 0.50% as it topped out at 1.30 and bottomed at 1.2942. I don’t recall seeing such non-eventful data for the euro in a while, so it was all about the US story. Some of the peripheral bond yields, such as Italian and Spanish debt, ticked a little higher as indications arise that austerity measures might get scaled back in order to support higher growth. In other words, interest rate cuts and other measures are limited so go for the low hanging fruit. The European Stability Mechanism (ESM) said that Cyprus received its first bailout payment yesterday. They said the small island nation received 2 billion euros and they could get as much as 1 billion more in June. The ESM also announced the go ahead for additional aid to Greece. The official approval should come within the next few days, but Greece should get 4.2 billion euros very soon and then another 3.3 billion in June would hinge on certain requirements. A deeper recession is staring European leaders right in the face, so things could change at any point and bailouts could be easier to come by. Speaking of Europe, the pound sterling lost just under 0.5% on the day. The currency was actually trading in positive territory prior to the release of the US sales number as the Confederation of British Industry maintained its growth outlook for the next couple of years. They are calling for economic growth to come in at 1% this year and increase to 2% in 2014, while the eurozone is expected to wallow in a negative growth pattern for the time being. The Australian dollar had another rough day as it turned in the worst score yesterday with nearly a 0.75% loss. This time, it was a negative printing of April business confidence that pushed it over the edge. Obviously the bout of dollar strength is pushing it in the wrong direction anyway, but the report’s lowest reading since November did the rest. In the end, the Aussie finished the day below parity and traders continue pricing in another rate cut by gov’t officials. I’m still of the opinion they will take a wait and see approach with any increase and Chinese activity going a long way to ease some of the pain. The Canadian dollar finished the day in second place and oh so close to a positive number solely on the coattails of the US retail sales result. Since most of Canadian commerce is with the US, we definitely saw the spillover effect at play, in spite of another down day for commodities. You would have thought the Mexican peso to be caught up in the same wave, but that speculation of an impending rate cut by the central bank kept it in the cellar. Speaking of rate cuts, I saw an interesting stat where we have seen 511 interest rate cuts globally since June 2007. That’s a lot of cutting. And finally, the Brazilian real did turn in the best performance of the day with just over a 0.5% gain as speculation mounts that the central bank may intervene in the currency market to induce currency appreciation. Inflation has been on the rise so an appreciating currency goes a long way in keeping it under wraps. I guess comments last week from the central bank has fueled the fire as policy makers said they will do whatever is needed to slow inflation. They did hike interest rates last month, but more action may be needed in order to increase their comfort level, hence the currency. Trying to keep up with this central bank will make your head spin. As I came in this morning, things are pretty close to where I left them last night and most currencies aren’t starting the day in a deep hole. As I mentioned, it’s shaping up to be a quiet day unless feathers get ruffled abroad so the focus will soon shift over the to the data reports tomorrow. The dollar has slightly gained some traction since I’ve been writing, but nothing significant so far. Then there was this…According to an article in CNN Money, a poll finds that government spending cuts have public support in Europe. It said that despite the pain brought by austerity policies, the people of Europe said that bringing down government spending is the proper solution to the region’s economic problems. A survey by the Pew Research Center found that 6 of the 8 countries surveyed had overwhelmingly expressed that government debt is a big problem. To recap…The US dollar had yet another day in the sun as April retail sales came in higher than expected. The report used in calculating GDP came in positive and much higher than expected, so some economists are updating their consumer spending numbers. We won’t see much in the way of US data today but the San Fran Fed talked about the participation rate in the labor market. The currency market traded in a tight range and the ESM authorizes payment to Cyprus. The Aussie had yet another rough day but the Brazilian real was the only currency firmly in positive territory on the day. Currencies today 5/14/13. American Style: A$ $.9929, kiwi .8244, C$ .9876, euro 1.2966, sterling 1.5276, Swiss $1.0445, . European Style: rand 9.2070, krone 5.8207, SEK 6.6690, forint 227.74, zloty 3.2122, koruna 19.9451, RUB 31.3423, yen 101.67, sing 1.2403, HKD 7.7618, INR 54.7725, China 6.2035, pesos 12.1758, BRL 2.0080, Dollar Index 83.28, Oil $94.85, 10-year 1.90%, Silver $23.43, and Gold. $1,429.00 That’s it for today…I was looking at the box score of the Cards-Mets game last night and I was surprised to see former pitcher turned outfielder Rick Ankiel in the lineup. He had one heck of a curveball back in the day but lost it and could never find his stuff. After needing a jacket yesterday morning, it looks like we’ll need to kick on the A/C here in STL as its supposed to be close to 90 degrees today. It feels like I’m missing something by not getting ready for a Blues game, but that will have to wait for next season. Anyway, that does it for me today, so until tomorrow, Have a Great Day! Mike Meyer Assistant Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837
The silver equities had a similar shape to their rallies on Tuesday as the gold shares—and Nick Laird’s Intraday Silver Sentiment Index closed up 1.61 percent. The gold stocks opened up a bit—and rallied fairly strongly until shortly before 10:30 a.m. EDT. They didn’t do much of anything after that, as the HUI closed up 1.57 percent. The silver price action was pretty much the same as gold’s, with the only real difference being that silver’s low came either around 11 a.m. in London, or shortly before 9 a.m. in New York. You can decide for yourself from the Kitco chart below, but in the grand scheme of things, it doesn’t really matter. Silver traded in a 20 cent range all day Tuesday—and the highs and lows definitely aren’t worth my effort to look up. Silver closed yesterday at $16.745 spot, up 4 cents from Monday—and Monday’s gain was only 0.5 cents after “da boyz” were through with it. In the face of a crashing dollar index, I’m underwhelmed. Net silver volume was 33,000 contracts. The platinum price traded flat until shortly after 1 p.m. Hong Kong time—and then began to chop unsteadily higher from there. Like gold and silver, the rally—such as it was—came to an end at the 1:30 p.m. EDT COMEX close. Platinum finished the Tuesday session at $1,110 spot, up 9 bucks on the day—gaining back everything it ‘lost’ on Monday. After trading down about four bucks by the noon Hong Kong time, the palladium price also began to chop unsteadily higher. It’s high tick came shortly after 1 p.m. in Zurich—and the New York traders stepped in shortly before 11 a.m. EDT—and took the price down to its $764 low. It rallied a few dollars higher before trading flat into the close. The metal closed at $766 spot, down 8 dollars from Monday’s close.