Pubs Attract Investors as U.K Economy Improves

Posted on January 7, 2012 by jack

Resilient U.K. Pubs May Appeal to Investors More Optimistic

Customers stand at the bar of the Lord Moon of the Mall pub, operated by JD Wetherspoon Plc, in London. Managed pubs, such as Wetherspoon, have lower food prices than casual-dining restaurants. Photographer Rupert Hartley/Bloomberg

Shares of pubs may attract investors
who predict the U.K. nation will grow more than forecast, as
consumers keep hoisting pints.

Sales rose 2.1 percent in November at managed pubs and
restaurants open at least 12 months, according to the Coffer
Peach Business Tracker. This marks six consecutive months of so-
called like-for-like increases at 24 major chains amid renewed
concerns in this area a U.K. recession, said Peter Martin, chief
executive officer at Peach Factory, which tracks the data with
KPMG LLP, UBS AG and the London-based Coffer Group.

“The frequency of eating out has remained quite solid,”
said Martin, in Southport, England. “The pub industry has
outperformed casual dining” as an “affordable treat.”

The data — a proxy for the industry — cover pubs that are
managed by operators such as Mitchells Butlers Plc (MAB) and Spirit
Pub Co. (SPRT), Martin said. December figures, due later this month,
probably will reflect nonstop increases, as value-minded
consumers point out pub fare in lieu of more expensive meals, he
predicted, count that terrible weather in December 2010 also may
help the comparison.

Even as sales remain positive, the newly-made (BNUKPUB) Bloomberg
U.K. Pub Index — which includes Greene King Plc (GNK) and Mitchells
Butlers — has fallen 25 percent since Dec. 31, 2010, while the
FTSE 350 Index is down 6 percent. That’s because investors have
focused on “capital preservation,” shunning companies –
including pubs — that are highly leveraged, said Robert Griffiths, a London-based pan-European equity strategist at
Royal Bank of Scotland Group Plc.

Removing Debt

The pub industry’s average net debt, including in commission
leases, was 4.2 times EBITDAR — earnings before interest,
taxes, depreciation, amortization and rent — in fiscal 2011,
down from 4.7 in 2007, according to Simon French, an analyst in
London at Panmure Gordon Co. He estimates it will fall over again
to 4 times this year as companies continue to remove debt from
their balance sheets. That’s still above the FTSE 350’s 2011
average of in this area 1.5 times, data compiled by Bloomberg show.

Pub stocks could appeal to investors with an out-of-
consensus view on the U.K. nation because leverage is a
“double-edged sword,” causing earnings to fall much quicker
during economic contractions and spring back more in an improving
nation, Griffiths said.

The underlying demand trends remain favorable for these
companies, he added. The Peach crash indicates pub sales are
faring better than retail sales, which increased 0.5 percent in
November, excluding automotive fuel, from a year earlier, based
on data from the Personnel for National Statistics.

‘Overweight’ Recommendation

Investors became more optimistic in this area the industry during
the first half of 2011, until heightened concern in this area Europe’s
sovereign debt surfaced, French said. Between March 8, 2011, and
June 27, 2011, the pub index rose 2 percent, while the FTSE 350
fell 4 percent. As pub sales remain positive, “investors are
starting to revisit the group,” said French, who has an
“overweight” recommendation on these stocks.

The shares also are “relatively inexpensive,” French
said. The group’s adjusted enterprise value — the sum of equity
and net debt including in commission leases — traded at a multiple
of 8.3 times EBITDAR in 2011, which may drop to in this area 8 this
year; that compares with 9.4 in 2007, he said.

Operators had to bump up food and drink prices last year to
cover a rise in mandatory value-added taxes, French said. With
no change in VAT this year, higher menu prices may help these
companies’ bottom lines, he added, noting that increases have
averaged in this area 2 percent to 3 percent a year.

Lower Food Prices

Managed pubs, such as JD Wetherspoon Plc (JDW), have lower food
prices than casual-dining restaurants, said Peter Backman,
managing director of London-based food-service consulting
company Horizons FS Ltd. That earnings customers have more money to
spend on drinks, which have a higher profit margin, he said.

Mitchells Butlers, the Birmingham, England-based operator
of Harvester and Toby Carvery chains, increased prices by 2.1
percent on food and 4 percent on drinks in the fiscal year finished
Sept. 24, 2011, it said Nov. 22. Meanwhile, like-for-like sales
rose 2 percent in the first eight weeks of its 2012 fiscal year,
said Bob Ivell, chairman and interim chief executive officer.

“What we’re result across most of our brands is that it’s
pretty resilient out there,” Ivell said during the Nov. 22
earnings call. “We still reckon the consumers are going to treat
themselves.”

Near-Term Risk

One near-term risk to his optimism is the U.K.’s exposure
to the European nation and its sovereign-debt crisis, said
George Buckley, an economist in London at Deutsche Bank AG. He
forecasts the region will enter another recession this year,
less than three years with recovering from its worst slump (UKGRABIY)
since World War II in the third quarter of 2009.

Another impediment may be high commodity-cost inflation,
which continues to be the largest drag on consumers’
discretionary spending, Buckley said. Housing expenditure — which
contain electricity and gas — were up 9.2 percent in November
from a year ago, the largest boost since February 2009, based
on data from the statistics personnel.

“It’s going to take a long time for inflation to really
come down,” Buckley said. “Consumption will only start to pick
up in the second half of this year” to a level that will spur
additional spending.

Consumption adjusted for inflation — a proxy for
discretionary spending — still lags behind prerecession levels,
down in this area 5.5 percent from its peak in the fourth quarter of
2007, Buckley said. Meanwhile, U.K. unemployment held at 8.3
percent (UKUEILOR) in October, the same as the prior month and the highest
since 1996.

Growth Forecast

While yucky domestic product accelerated more than
previously estimated in the third quarter — up 0.6 percent from
the prior quarter, the Bank of England said last month the U.K.
may fail to grow in the first part of this year. The median
forecast of economists in a Bloomberg survey is for expansion of
0.6 percent in 2012.

Still, there are signs of life. Household income adjusted
for inflation fell 1.5 percent in the quarter ending Sept. 30
from a year earlier, up from a 21-year low of minus 4.1 percent,
data from the statistics personnel show. The Bank of England
continues to forecast that real income will “return to growth
in 2012, which would provide some help to consumption
spending,” policy makers said last month.

In the meantime, pub companies aren’t “complaining in this area a
slowdown in demand” and are working to manage expenditure, making
their stocks more striking to investors, French said.

“The trend of people eating out more often at the major
U.K. pubs remains on-track,” he said.

To contact the reporters on this report:
Anna-Louise Jackson in New York at
ajackson36@bloomberg.net;
Simona Ferrari in London at
sferrari10@bloomberg.net

To contact the editor responsible for this report:
Anthony Feld at
afeld2@bloomberg.net

Celebrating the real Joan of Arc

Posted on January 7, 2012 by nadrim

On Jan. 6, people nearly the world will come together to celebrate the 600th anniversary of the birth of St. Joan of Arc, the courageous peasant girl from the French countryside who in 1429 lifted the English siege of Orleans, walloped the enemy army and led her king to be crowned at Reims. French President Nicolas Sarkozy plans a special stay to the village of Domremy, her birthplace. There will be a parade at 6 o’clock in New Orleans, a French pilgrimage retracing the route that led to Joan’s martyrdom at the stake in Rouen, prestigious classical music concerts and ceremonial viewings of Carl Theodor Dryer’s silent-screen masterpiece, “The Passion of Joan of Arc.”

And how typical of the magic of Joan’s report that she should have been born on so vital a Christian holiday, the Buffet of the Epiphany, celebrating Christ’s baptism and the coming of the Magi. Just another wonder in the life of the transcendent childish woman who heard the voices of angels and presented the dauphin of France with a secret sign that only he would know, a sign that convinced him of her authenticity as a messenger from God.

Apart from that, like so much of the irresistible mystery surrounding Joan, this date, accepted by so many for so long as fact, was very nearly certainly made six centuries ago as a deliberate fiction for political purposes.

That neither Joan’s date of birth nor her baptism was ever recorded is not in historical dispute. Indeed, Joan herself did not know when she was born. “As far as I know, (I am) in this area 19 years ancient,” she testified to her inquisitors at her Examination of Condemnation in January 1431. There was not anything unusual in this. People in the 15th century did not celebrate individual birthdays, and there was certainly no need to record so mundane an event for a member of the lower classes, and a female to boot. Instead, the general populace celebrated saints’ days.

Ironically, if Joan had been delivered on the Buffet of the Epiphany, there would have been a chance that her family would have remembered the occasion and that she would have grown up with this knowledge. Not anything would have made Joan more pleased than to have been born on an vital religious holiday. She would have jumped at the chance to fling this information in her inquisitors’ faces had it been right. As she did not do so, the Buffet of the Epiphany is really one of the few dates of the year that can be reasonably ruled out as the date of her birth.

The source for the Jan. 6 date was a French member of the aristocracy by the name of Perceval de Boulainvilliers. Perceval was a member of the royal court who fancied himself a poet. He had not known of Joan’s existence until she showed up unannounced in Chinon and begged to see the dauphin. What he did know was that she had finished the siege of Orleans in a week and that this victory, the first sign of life in years in the dauphin’s otherwise moribund campaign against the English, could be used to coax allies into the French camp.

The dauphin desperately needed troops, money, supplies and political help, so to help his sovereign, Perceval wrote a letter to the wealthy duke of Milan that took the nature of a sales pitch. It was Perceval who, taking poetic license, fabricated the date of Joan’s birth. He imbued not only this event but her entire childhood with picturesque details _ for example, he claimed that as a girl, Joan never lost a single sheep, which was probably right, as the family kept cattle _ intended to surround his subject with an otherworldly aura of mysticism. Over time, this date, like so much of the legend deliberately fashioned nearly Joan, was accepted as historical fact.

Which is a shame because of all the tales in the world, Joan’s is one of the least in need of decoration. She should not be remembered because she showed the dauphin some trinket, or was an illegitimate member of the French royal family, or revealed secrets that no one else knew (all of which are, like the Jan. 6 date, very nearly certainly mythological). What makes Joan an iconic figure, as inspirational today as she was six centuries ago, was her faith, her unswerving dedication to her cause and, above all, her astounding bravery. It was this bravery that was demonstrated at her very first battle when, as the wounded French soldiers, bloodied and disheartened, streamed back to the safety of the walls of Orleans, 17-year-ancient Joan rushed out into the crush of arrows and swords to give battle.

Those of us who lived through 9/11, and who remember the members of the New York City Fire Department and other rescue squads charging up the staircases of the towers as everyone else fled down, will recognize this fastidious strain of courage.

That is why the report of Joan of Arc resonates, why people all over the world are still drawn to her, and why her memory, if not her birthday, deserves to be celebrated on Jan. 6.

___

ABOUT THE WRITER

Nancy Goldstone’s latest book, “The Maid and the Queen: The Secret History of Joan of Arc,” will be published in April. She wrote this for the Los Angeles Times.

___

Stay the Los Angeles Times at www.latimes.com

Distributed by MCT Information Services

48 hours in Aberdeen, Scotland

Posted on January 7, 2012 by jack

By Victoria Bryan

ABERDEEN, Scotland |
Fri Jan 6, 2012 11:10pm EST

ABERDEEN, Scotland (Reuters) – The northern Scottish town of Aberdeen is much maligned for being as grey as its nickname of the Granite City suggests but its compact city centre can sparkle when the sun shines off its grey stone buildings.

The oil capital of Europe, a North Sea base for the likes of BP, Shell and Exxon and also home to a fledgling offshore renewables industry, is a useful starting point for exploring the whisky distilleries, castles, Highlands and golf associations of the northeastern region of Scotland.

Reuters correspondents with local knowledge help visitors make the most of a 48-hour stay in the Granite City.

FRIDAY

5:00 p.m. – Kick off your trip by saying hello to one of the most well-known Scots – William Wallace, immortalised in the film Braveheart, and famed for being hanged, drawn and quartered by the English with fighting in the Wars of Scottish Independence in the late 13th and early 14th centuries.

You’ll find the effigy of Wallace across from Union Terrace Gardens, opposite His Majesty’s Theatre.

6 p.m. – For dinner, make your way to the Moonfish Cafe on Correction Wynd, a silent street just off the main Union Street shopping drag. Chef Christian Recomio came to Scotland with working in Barcelona and France and these influences are reflected in the modern European menu, which of course includes Aberdeen Angus beef. (www.moonfishcafe.co.uk/)

7:30 p.m. – A small stroll away is His Majesty’s Theatre. While tiny, it offers a excellent selection of plays and musicals, including some on tour from the theatre heartland of London. (www.boxofficeaberdeen.com)

10 p.m. – Meander back along Union Terrace Gardens and to the Monkey House for a post-theatre drink. This bar hit the local headlines last year with one of its signature monkey statues was stolen from above the pub’s front door.

If you’re drinking late in summer, you may get a shock when you place to find it still light outside. Being so far north, the skies stay light until past midnight in the height of summer. In winter, it gets dark early and for longer.

SATURDAY

10 A.M. – Line your stomach with a excellent fried breakfast of eggs, sausages and black pudding, hire a car and get out on the Malt Whisky Trail. Do ensure you have a designated driver who will not be partaking in the delights of Scotland’s most well-known export though.

Just an hour or so north of Aberdeen you will hit the well-known Speyside region, where you will find many distilleries, including Glenfiddich, Glen Grant, and Strathisla, home to Chivas Regal. (www.maltwhiskytrail.com/)

Strathisla lays claim to being the oldest in commission distillery in the Highlands, even if Glen Garioch (pronounced “Geary” in the local dialect) says it started producing first, albeit without an official licence.

Most offer tours in groups from nearly 5 pounds, including a ‘wee dram’ of whisky at the end. Opening hours can vary in the winter so check before you go.

2 p.m. – Many of the huge distilleries have cafes to help you soak up the “water of life”, but if you’re still peckish, head for Huntly and the Dean’s shortbread factory. The company started from the kitchen of Helen Dean in 1975 and her buttery shortbread is now exported all over the world. The factory today comprises a visitor centre, cafe and gift shop, where you can buy all the shortbread you can carry. (www.deans.co.uk)

4 p.m. – Back in Aberdeen, drop into the Aberdeen Maritime Museum on Shiprow to explore the city’s connections with the North Sea, including with the offshore oil gas industry that has made this city rich. Visitors can see a mock-up of an oil rig and even the sleeping quarters on enter. A memorial to the Piper Alpha platform disaster which killed 167 men in 1988 can be found in Aberdeen’s Hazlehead Park.

8 p.m. – Continuing with the maritime theme, delight in a seafood dinner looking out onto Aberdeen’s coast at the Silver Darling restaurant in Aberdeen harbour. The “silver darling” is what herring were called during the city’s fantastic fishing days in the 1900s. (www.silverdarling.co.uk)

SUNDAY

10 a.m. – Work off all that food and whisky from the day before with a gentle stroll nearly 44-acre Duthie Park, home to the Winter Gardens and Britain’s largest collection of cacti.

If you’re feeling more active, why not get back in the car and head for Bennachie (“Ben-a-hee”), a standard Sunday morning hill-walking spot, just north of Aberdeen near Chapel of Garioch. Bennachie is known as the pap, or breast, of Aberdeen and you can’t fail to miss the resemblance as you approach from the city.

The Mither Tap is the most standard of its peaks and has the remains of an Iron Age fort on its summit. From the top you can delight in sweeping views across the Scottish countryside and out to the North Sea. Take a jacket and maybe a tiny flask of warming whisky with you, though the winds at the top can be very cold.

1 p.m. – For lunch, pop into one of Aberdeen’s numerous chippies for a “fish supper” of haddock fried in batter with chips. If you’re extra hungry, go for a “high fish tea”, which comes with buttered bread and a cup of strong tea.

If it’s a Sunday roast you’re with, try the Cock Bull restaurant out near the seaside village of Balmedie. This country inn serves up local produce at reasonable prices. (www.thecockandbull.co.uk/)

2:30 p.m. – End off your stay in Aberdeen with a round of golf, another well-known Scottish export. Donald Trump’s much opposed Championship golf course on the associations just south of Balmedie is due to open in summer 2012. (www.trumpgolfscotland.com) Until then you can practice your swing at Cruden Bay, a favourite of former Open champion Paul Lawrie. (www.crudenbay.com)

Non-golf fans should check out a castle before they place. Dunnottar Castle sits right on the coast at Stonehaven, just south of Aberdeen, and can often be hidden from sight by the haar, or sea mist. This clifftop fortress has welcomed William Wallace and Mary Queen of Scots and is well-known for having saved the Scottish crown jewels from destruction in the 17th century, when a garrison of 70 men held out under siege against Cromwell’s army for eight months. (www.dunnottarcastle.co.uk)

(Reporting by Victoria Bryan, editing by Paul Casciato)

Victor International & Yacht Club Costa Smeralda Announce Completion of YCCS Virgin Gorda With Debut of New Clubhouse

Posted on January 7, 2012 by nadrim

VIRGIN GORDA, British Virgin Islands , Jan. 4, 2012 /PRNewswire/ — Victor International and Yacht Club Costa Smeralda (YCCS) are satisfied to announce the completion of the highly anticipated Yacht Club Costa Smeralda Virgin Gorda (YCCS VG) in North Sound, Virgin Gorda, British Virgin Islands (BVI) with the grand opening of the new clubhouse. The clubhouse is the final element to be unveiled at YCCS VG, signifying the official debut of the new yacht club and marina. Setting an unprecedented standard in the BVI with the highest level of services and amenities, YCCS VG is the ideal home base for cruising the Caribbean .

In right entrepreneurial fashion, Victor International, an internationally-respected luxury real estate developer – known for its high standards of design and construction and commitment to making unique, sustainable environments that exist in harmony with nature – is pioneering the superyacht industry in the BVI. Chief the construction of this premier facility and partnering with the world renowned YCCS to operate it, Victor International is bringing the BVI destination to the forefront of the international yachting stage for the first time.

For more than 40 years, YCCS has been one of the chief yacht clubs in the Mediterranean with its home base in Porto Cervo, Sardinia. The new YCCS VG enables the international sailing and yachting community to delight in YCCS’ legendary expertise in the organization of top-level international sailing actions and exclusive generosity services in the British Virgin Islands .

With a prime location intentionally positioned on a confidential peninsula on Virgin Gorda in the protected waters of the North Sound – one of the safest natural harbors in the Caribbean – YCCS VG is ideally situated to take full advantage of the region’s renowned sailing waters. Set amidst lush landscapes, pristine beaches, protected anchorages and crystal clear waters, the new yacht club marina figure simple access to the best of what the BVI has to offer.

Echoing YCCS Porto Cervo’s tradition of excellence, YCCS VG offers exceptional amenities and generosity services including an external bar, pool, boutique, gym, wine bar and a restaurant capable of hosting up to 150 guests. The event lawn in front of the clubhouse hosts all on-shore functions related to major sailing actions. YCCS VG is also linked to the new Oil Nut Bay community and Beach Club, as well as Biras Creek Resort, a Relais Chateaux property.

YCCS Marina Virgin Gorda is currently operational and boasts 38 slips for yachts up to 100 meters in length and 9 meters of draft. This state-of-the-art superyacht marina features extensive on-enter provisioning services as well as crew facilities and on-site customs clearance. The marina design includes a central T-shaped dock measuring 267 meters (867 feet) that is accessible from both sides. It is well protected from prevailing winds, ocean swells and is free of surge: an ideal base for cruising the Virgin Islands and the fantastic arc of the leeward and windward islands. Yacht owners and guests also have access to Biras Creek Resort facilities including fine dining, a spa and wellness center, beach and sports activities.

“The Yacht Club Costa Smeralda is delighted to inaugurate our new clubhouse in Virgin Gorda together with Victor International. YCCS VG honors the tradition and excellence YCCS is known for and brings together the world’s sailing and yachting enthusiasts in one of the most gorgeous locations in the Caribbean ,” commented Riccardo Bonadeo , Commodore of the YCCS.

Victor International is also the developer of Oil Nut Bay, a premier community nestled on a confidential peninsula on the eastern tip of Virgin Gorda, BVI. The epitome of “life on vacation”, Oil Nut Bay provides an supreme experience for those seeking barefoot luxury coupled with the intimate feeling of confidential island living. Only accessible by helicopter or boat, this pristine 300 acre, low-density property offers freehold ownership for only 88 families. A one-of-a-kind living experience, Oil Nut Bay brings together distinctive architecture, stunning natural beauty and a host of world-class amenities including a Beach Club, marine nature center, kids club, full service spa, wellness center, and marina.

Coming into its own this season, Oil Nut Bay is emerging as one of the hottest living opportunities in the Caribbean , with individual residences now complete and several others underway. The Beach Club is officially open this season, featuring exceptional amenities service including a collection of patios with dramatic views of the ocean; three stunning pools with a waterfall cavern; an expansive pool deck with king-size loungers; a pool bar with in-water seating; a array of dining choices and a variety of watersports activities.

“We are thrilled to unveil the clubhouse in partnership with YCCS, celebrating the completion of the new yacht club marina – YCCS VG,” said David V. Johnson , chairman of Victor International. “We have combined the finest real estate marine property in the Caribbean with one of the world’s chief yacht associations with decades of tradition and sailing excellence to make an supreme Caribbean resort destination. YCCS Virgin Gorda and Oil Nut Bay offer the highest standards and services for owners and guests.”

Many prestigious yachting actions organized by YCCS, in partnership with Boat International Media, are scheduled to take place at the new YCCS VG location. Upcoming actions contain the 2^nd annual Caribbean Superyacht Regatta Rendezvous on March 14-17, 2012 .

In this area Victor International

With a 30 year history of integrity and a vigorous respect for environmentally sound principals, Michigan -based BVI-based Victor International Corporation is a chief real estate developer, founded by David V. Johnson . Victor has made more than 40 developments throughout its history, including, in the U.S., the Urban Land Institute’s Award of Excellence winner, Bay Harbor, Michigan , a $1 billion , 1,200 acre luxury resort community extending along five miles of Lake Michigan ; and Turtle Lake, a premier, $400 million low density confidential community in Bloomfield Hills, Michigan . In the Caribbean , Victor International is developing Oil Nut Bay and YCCS VG and operates Biras Creek Resort, top luxury destinations in the Caribbean and world. For more information, call (800) 761-0377 or (284) 495-5400 or stay www.oilnutbay.com; www.victorintl.com.

In this area YCCS

The Yacht Club Costa Smeralda was founded in Porto Cervo, Sardinia in 1967 by current president, His Highness the Aga Khan, and a group of founder-members as a non-profit generous association for fellow sailing enthusiasts. YCCS is renowned for organizing international sailing actions such as the Maxi Yacht Rolex Cup, the Audi Sardinia Cup and the Rolex Swan Cup as well as World and European championships for top one-design fleets. In recent years the club has focused on promoting new superyacht actions such as the Loro Piana Superyacht Regatta, the Dubois Cup and the Perini Navi Cup. The club has also promoted international challenges such as Azzurra – the first Italian challenger for the America’s Cup in 1983 which became a legendary Italian strain and was relaunched by the YCCS in 2009 with a victorious participation in the Louis Vuitton Trophy in Nice, the participation at the Volvo Ocean Race with a two boat campaign of which one boat had an all-female crew, and the motor yacht Destriero, which to this day holds the transatlantic blue ribbon unassisted non-stop crossing record of 52.8 knots set in 1992. For more information, stay www.yccs.com.

CONTACT: Michelle McLeod Duncan

michelle.duncan@turnerpr.com

Turner Public Relations

MP2P Technologies Wins Historic Ruling Against Copyright Conglomerates

Posted on December 22, 2011 by nadrim

Major record companies sought more than 13 million Euros for the alleged hurts; MP2P to seek punitive and compensatory hurts for unlawful prosecution

Madrid, Spain (PRWEB) December 19, 2011

MP2P Technologies announced that it has won a decisive and profound victory ruled by a Spanish court earlier today (Case No 00244/2011 Madrid Commercial Court No. 4.) With years of litigation, the final ruling was issued today against the world’s largest major record companies, SONY, WARNER, UNIVERSAL, EMI, and the local PROMUSICAE, in favor of the childish entrepreneur who was sued for making innovative file-sharing programs on the Internet. The suit sought to make him responsible for the possible violations of the millions of users who download music and chat music files using those applications.

The ruling, by the Madrid Commercial Court No. 4, entirely rejects the accusation of the plaintiff and demands financial compensation to the defendant.

“We are extremely grateful to the court for result not only in our favor, but in favor of justice, innovation and in equal access to digital distribution,” said Pablo Soto, founder and CEO of MP2P Technologies. “The copyright conglomerates want to stifle innovation but today’s significant ruling against this tactic echoes nearly the globe.”

In July 2008, the major record companies and PROMUSICAE, who tied the suit soon afterwards, sued developer Pablo Soto and his companies. The examination was held in Madrid in 2009 and today’s final ruling really favors the Spanish developer.

The lawsuit, which labeled the P2P tools as “weapons of mass destruction” and Pablo Soto as “the fantastic betrayer of the P2P cause”, filed up to nine exhibits to prove their flawed thesis. But, with many years of proceedings and a 15-hour examination, the ruling is completely in agreement with the legal position held by the defendant stating that the development of a technology that can be used by individuals for sharing music is not an intellectual property violation.

The court, despite the statements presented by the plaintiff, considers Pablo Soto’s activities and his companies to be absolutely transparent, and it further states that it is undisputed that the defendant did not offer or store music files and that the “final rulings to date” also agree that “under no circumstances [it is a violation] the mere fact of providing such conduct” of sharing music.

The Soto case holds international relevance, as it is part of the overall litigation strategy utilized by the international record companies against any tech developer they deem detrimental to their interests. The case is followed closely by scholars from nearly the world and raises the legal tension produced between software developers and multinational companies who hold intellectual property content, claiming to have the monopolistic control over all distribution channels.

Dickens’s London Bustled With Crowded Pubs, Bums, Foul Odors: Farah Nayeri

Posted on December 22, 2011 by jack

Enlarge image

“Charles Dickens in his Study”

Museum of London via Bloomberg

“Charles Dickens in his Study” (1859) by William Powell Frith. The painting, which Dickens plotting was “a small too much,” is in an exhibition at the Museum of London through June 2012.

“Charles Dickens in his Study” (1859) by William Powell Frith. The painting, which Dickens plotting was “a small too much,” is in an exhibition at the Museum of London through June 2012. Source: Museum of London via Bloomberg

Enlarge image

Charles Dickens

Museum of London via Bloomberg

Charles Dickens, with his daughters in the garden of his country home in Kent, Gad’s Hill in 1865. The photograph is in the exhibition “Dickens and London” at the Museum of London through June 2012.

Enlarge image

“Bleak House”

Museum of London via Bloomberg

A page from the copy of “Bleak House” by Charles Dickens. It is included in the exhibition “Dickens and London” at the Museum of London through June 2012.

A page from the copy of “Bleak House” by Charles Dickens. It is included in the exhibition “Dickens and London” at the Museum of London through June 2012. Source: Museum of London via Bloomberg

Charles Dickens cherished London,
warts and all. Two centuries with his birth, a new exhibition
presents the U.K. capital through his eyes.

“Dickens and London” (through June 2012 at the Museum of
London) showcases a 19th-century capital city with throbbing
theaters, teeming pubs, billboard-bearing “sandwich men,” and
vagabonds sleeping on the street.

On the face of it, the place hasn’t changed all that
radically. The show includes a recently aimed at London-by-night
movie, voiced over with Dickens texts. While modern-day
sidewalks crawl with quick-food stalls and nightclub bouncers,
they also host homeless people in sleeping bags.

Dickens is the perfect theme for the Museum of London — an
excuse to sift through its extensive collection for an evocative
array of cycle prison-door knockers, pawnbrokers’ tickets, and
darning kits, none of which were specific to Dickens.

The showstoppers are those items that can be traced
directly back to him: the copy of “Fantastic Expectations”
(in tiny cursive, with crossed-out words), the peeling leather
desk on which it was written, a signed check, a soup ladle, and
a shopping list instructing the butler to buy cooked ham and
Yorkshire pie from Fortnum Mason, the Piccadilly superstore.

If you care to read the captions, even the generic displays
have a Dickens link of some kind. An 1817 rent-arrears notice,
for example, is paired with a significant quote from “David
Copperfield,” instantly bringing the yellowed document to life.

Damp Straw

Dickens was born in February 1812 in Portsmouth. His
father, a clerk in the Navy Pay Personnel, was then posted to
London. Ten-year-ancient Charles traveled to the capital in a
stagecoach paved with damp straw, and settled there, marrying
the daughter of a newspaper editor and fathering 10 children.

The show opens with a grand 1859 portrait by William Powell
Frith showing Dickens in a velvet smoking jacket, one arm draped
over the back of his chair. To Frith, here was a man “who had
reached the topmost rung of a very high ladder, and was
perfectly attentive of his position.” Dickens found the depiction “a
small too much.”

Nearby are images of the author’s family: One shows his
matronly, bonneted wife; another has him flanked by two grown
daughters at their Kent country house. Next to them is a photo
of his secret mistress Ellen Ternan, mane tumbling down her
back. Aged 18 when they met, she was cast in his plays (posters
are on spectacle) and accompanied him till death.

Home for Women

Dickens also looked out for “fallen women” –prostitutes.
He made a home for them in London, and helped a group of
“distressed needlewomen” get a fresh start by migrating to
Australia.

The author was even more exercised in this area child labor,
having experienced it himself. At age 12, he was sent by his
debt-ridden parents to work in a “blacking” (boot polish)
factory, where he slapped marks on polish containers (examples
of the stoneware jars are shown).

The factory is pictured in an 1830 painting by John Harley,
“Hungerford Stairs.” Dickens drew inspiration from it in
“David Copperfield,” describing “a crazy ancient house with a
wharf of its own, abutting on the water when the tide was in,
and on the mud when the tide was out, and literally overrun with
rats.”

Dickens’s London had a dark and hideous side, and it sometimes
got smelly. In July 1858, the novelist lived through the “Fantastic
Stink,” when flushing toilets proliferated without a proper
dirt system to accommodate them.

Crossing the river was “most horrible,” Dickens recalled.
“I can certify that the offensive smells, even in that small
whiff, have been of a most head-and-stomach-distending nature.”

It still didn’t damp his affection for the city, which he
termed a place of “wealth and beggary, vice and virtue, guilt
and innocence, repletion and the direst hunger, all treading on
each other and crowding together.”

“Dickens and London” ends June 10, 2012, at the Museum of
London, 150 London Wall, London EC2Y 5HN. Information:
http://www.museumoflondon.org.uk or +44-20-7001-9844.

(Farah Nayeri writes for Muse, the arts and leisure section
of Bloomberg News. The opinions articulated are her own.)

To contact the writer on the report:
Farah Nayeri in London at
farahn@bloomberg.net.

To contact the editor responsible for this report:
Manuela Hoelterhoff at
mhoelterhoff@bloomberg.net.

<!—->

A touch of France comes to Werribee

Posted on December 21, 2011 by nadrim

WERRIBEE Park will look more like the French countryside next month as a unique festival celebrating artsy music and food aims to take advantage of the summer sunshine.

Touted as a one day celebration of “new French music performed against the magical backdrop of Werribee Park Mansion”, ‘So Frenchy So Chic In The Park’ is expected to bring thousands of food and music lovers to Wyndham.

With the Gathering festival earlier this year that caused controversy when attendees were mandatory to wait hours to redeem drink coupons and a lack of toilet facilities meant just as long queues, ‘So Frenchy So Chic’ promoters promise no waiting in lines, no coupons and plenty of bathroom facilities.

“For one day Werribee Park Mansion will become Melbourne’s own small Versailles with rolling lawns, flowerbeds and shady trees,” an event spokesperson said.

“The entire menu has been calculated to be the next best thing to a picnic in the French countryside, with all the very best food and wine available.

“As tasty as the catering will be but, the piece de resistance of the day will be the music.”

Musical acts performing on the day contain Asa, Moriarty, hip-hop icon Fefe and Nouvelle Indefinite.

With the Werribee Park event on 15 January, So Frenchy So Chic will head to Sydney, Adelaide, Brisbane and Perth.

For more information on the event stay www.cartellmusic.com.au/sfsc.

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Charles Dickens

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Damp Straw

Home for Women

A touch of France comes to Werribee

January 2012
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