DOCSLIB.ORG

2019 Consolidated Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2019 Consolidated Financial Statements CONSOLIDATED 2019 FINANCIAL STATEMENTS CONSOLIDATED 2019 FINANCIAL STATEMENTS CONTENTS 5 Group key data 6 Parent Company officers 7 Group activities 8 Group chart 9 Financial highlights 10 Net Asset Value 11 Directors’ report 12 Analysis of the consolidated financial statements 19 Human resources 21 Performance by business segment 65 Additional information 67 Consolidated financial statements at December 31, 2019 68 Consolidated statement of financial position 70 Consolidated income statement 71 Consolidated statement of comprehensive income 72 Consolidated statement of changes in shareholders’ equity 73 Consolidated cash flow statement 75 Notes to the consolidated financial statements 155 Annexes 156 List of consolidated companies at December 31, 2019 170 Report of the independent auditors EDIZIONE 3 GROUP KEY DATA EDIZIONE 5 PARENT COMPANY OFFICERS 1 5 Board of Directors General Manager Gianni Mion 2 Carlo Bertazzo Chairman Alessandro Benetton 5 Resigned on February 29, 2020. Director Christian Benetton Director Franca Bertagnin Benetton Director Board of Statutory auditors Sabrina Benetton Angelo Casò Director Chairman Carlo Bertazzo Giovanni Pietro Cunial Director Aldo Laghi Auditors Giovanni Costa Director Alberto Giussani Maria Martellini 6 Fabio Cerchiai 3 Alternate auditors Director Fabio Buttignon 4 6 Alternate Auditor whose term of office ended on May 25, 2020. Director Marco Patuano 4 Director 1 Appointed on June 24, 2019. In office until approval of the financial statements at December 31, 2019 2 Appointed Chairman on June 24, 2019. 3 Chairman whose term of office ended on June 24, 2019. 4 Director whose term of office ended on June 24, 2019. Independent auditors Deloitte & Touche S.p.A. In office until approval of the financial statements at December 31, 2019 In office until approval of the financial statements at December 31, 2023 6 EDIZIONE GROUP KEY DATA GROUP ACTIVITIES At December 31, 2019 Edizione S.r.l. (“Edizione” or the “Parent Company”), fully owned by the Benetton family, held Investment philosophy equity investments in the following industries: Transport Edizione, in exercising its prerogatives as a shareholder Infrastructure, Digital Infrastructure, Food and Beverage, with respect to the companies of the Group, combines an Clothing and Textiles, Real Estate and Agriculture and entrepreneurial approach with solid financial discipline, Financial Institutions. putting finance at its companies’ service in order to improve their competitive position and returns. Starting in January 2020, the domestic and international scenario was harshly impacted by the spread of Covid19 and Edizione maintains an ongoing dialogue with the managers the resulting restrictive measures implemented by the public of its holdings, while fully respecting their autonomy. authorities in the countries concerned. These measures had a harsh impact on all sectors in which the Group Edizione aims to develop its investments over the long operates, starting with the dramatic drops in motorway term and to help its holdings expand by strengthening traffic (decreasing by 80% in Italy) and airport traffic (with their presence in their respective sectors, also by involving a reduction in passengers near 100%), to end with the partners that share strategy and governance. restrictive measures for food and beverage and retail sales, which eliminated the revenues in those sectors for several months. In this context, the primary objective and duty was to ensure the safety of all of our employees, users and consumers, and take action to support emergency management measures and the hospitals on the front lines in fighting the pandemic. In this regard, we would like to heartily thank all healthcare and humanitarian workers, along with the over 100,000 employees of the Group who, throughout the world, demonstrated their professionalism and sense of duty, continuing to work hard even in environmental and health conditions of great difficulty, guaranteeing essential public services for the community and enabling the Group to carry out its necessary operations. We are counting on them to overcome this period of global crisis, for which it is objectively difficult to forecast duration or impact. With specific reference to the business segments the Group operates in, we must be prepared for a long period of difficulty, with a return to normal which will be gradual and not lacking in risks of potential relapses. We are aware that 2020 will be a challenging year, marked by harshly negative economic performance and sharply increasing financial indebtedness. However, we are all working with determination, a sense of responsibility and confidence in the Group’s future. GROUP KEY DATA EDIZIONE 7 GROUP CHART EDIZIONE 100% 30.25% 88.06% Transport Sintonia Atlantia 1 Autostrade per l’Italia Infrastructure 100% Autostrade dell’Atlantico 50% + 1 share Abertis 99.38% Aeroporti di Roma 62.50% 64% Azzurra Aéroports Aeroporti de la Côte d’Azur 100% Telepass 23.86% Hochtief 15.49% Getlink 55% 29.9% Digital ConnecT Cellnex Telecom Infrastructure 100% 50.10% Food and Schematrentaquattro Autogrill 2 Beverage 100% 100% Clothing Benetton Benetton Group and Textiles 100% Olimpias Group 100% Real Edizione Property Estate and Agriculture 100% 100% Edizione Agricola Maccarese 100% Compañia de Tierras Sud Argentino 100% Ganadera Condor 100% 4% Financial Schematrentatre Assicurazioni Generali Institutions 2.10% Mediobanca Listed company 1 At December 31, 2019, Atlantia holds 0.94% of treasury shares 2 At December 31, 2019, Autogrill holds 0.07% of treasury shares 8 EDIZIONE GROUP KEY DATA FINANCIAL HIGHLIGHTS The Group’s results in 2019 and 2018, stated according to the International Financial Reporting Standards (IAS/IFRS), are summarised below. (Millions of Euro) 2019 2018 Restated Change % Revenues 17,928 13,153 4,775 36 EBIT 1,953 2,043 (90) (4) Net income for the year 485 984 (499) (51) Net income, non-controlling interests 430 800 (370) (46) Net income, Group 55 184 (129) (70) Net capital employed 61,902 61,597 305 Shareholders’ equity, Group 7,145 7,066 79 Non-controlling interests 14,273 15,269 (996) Total shareholders’ equity 21,418 22,335 (917) Net financial indebtedness 40,484 39,262 1,222 Net Asset Value 12,323 10,147 2,176 Cash flow 1 6,709 3,492 3,217 Net income, Group/Shareholders’ Equity (ROE) 0.8% 2.6% EBIT/Capital employed (ROI) 3.2% 3.3% 1 Cash flow: calculated as Net income before non-controlling interests plus Restated Figures for 2018 have been restated to reflect the completion of the depreciation, amortisation, impairment and provisions, net of the related process of accounting for the acquisition of Abertis Infraestructuras reversals and uses. group, which contributed to the results for the year starting from the end of October 2018. The results for 2019 reflect the effects of consolidation for In order to adequately read the economic results of the Group the entire year of the Abertis Infraestructuras S.A. group and its statement of financial position, it must be considered (“Abertis” ), which, in 2018, contributed to the consolidated that the Atlantia group provides the predominant share of results only for two months, and the application of the the consolidated results of the Edizione Group. international accounting standard IFRS 16 – Leases, starting from January 1, 2019. It is also noted that the net income/(loss) for 2018 was restated, following the completion of the fair value measurement of assets acquired as a result of the acquisition of the Abertis group. GROUP KEY DATA EDIZIONE 9 NET ASSET VALUE The Net Asset Value is the value of the Group’s total assets net The table below shows a breakdown of the Net Asset Value of of the net financial position of the Group’s financial sub-holding Edizione at December 31, 2019, compared to the values of each companies, including the Parent Company. asset at December 31, 2018: (Millions of Euro) 12.31.2019 12.31.2018 Change Value % / GAV Value % / GAV Absolute Atlantia 5,215 41.9% 4,495 46.6% 720 Cellnex 2,432 19.5% 977 10 .1% 1,455 Autogrill 1,200 9.6% 987 10.2% 213 Assicurazioni Generali 1,157 9.3% 757 7.8% 400 Mediobanca 187 1.5% 141 1.5% 46 Prysmian 51 0.4% 20 0.2% 31 Listed companies 10,242 82.2% 7,377 76.5% 2,865 Real Estate and Agriculture 1,677 13.5% 1,669 17.3% 8 Clothing and Textiles 489 3.9% 561 5.8% (72) Other 49 0.4% 42 0.4% 7 Non-listed companies 2,215 17.8% 2,272 23.5% (57) Gross Asset Value (“GAV”) 12,457 100% 9,649 100% 2,808 (Net financial indebtedness)/Net cash and cash equivalents (134) 498 (632) Net Asset Value 12,323 10,147 2,176 The total asset value was determined by using the following (Millions of Euro) valuation criteria: – equity investments in listed companies are valued on the basis of the arithmetic average of the closing prices, in the 51 Prysmian Others 49 20 trading days prior to the valuation date; – equity investments in unlisted companies are valued at 489 Clothing the purchase cost in the 12 months following acquisition. and Textiles Subsequently, the equity investments are valued at the carrying value or the value corresponding to the pro-rata 1,344 Financial Institutions equity, referring to the last statement of financial position Atlantia 5,215 available at the valuation date; – investment properties are valued at market value, as 2,432 Cellnex determined by third-party and internal appraisals; – the Net financial indebtedness includes the financial payables of the Parent Company and the 100% owned holdings net of cash and cash equivalents and liquid financial investments at the valuation date; – assets and liabilities denominated in foreign currency 1,200 Autogrill Real Estate 1,677 are converted at the exchange rate at the date of and Agriculture determination of the Net Asset Value.
Load more

Recommended publications
  • Benetton Group Spa Rating Change UNDERPERFORM
    Benetton Group Spa Rating Change UNDERPERFORM Equity | Italy | Apparel 15 November 2010 Faded colours Flavio Cereda >> +44 20 7996 1455 Research Analyst MLPF&S (UK) Downgrading BEN to Underperform: PO cut 17% to €5.0 flavio.cereda@baml.com We believe BEN has become a value trap, we thought the stock had reached a floor of sorts after H110: it does not appear so. A poor Q3 combined with deteriorating news flow has returned the stock to its previous predicament, in our Stock Data view: how do I deal with competitors that are bigger, better and more appealing Price EUR5.10 than me? BEN’s inability to generate any real growth this year in spite of the Price Objective EUR5.00 recent restructuring effort (mgmt estimate €50mn net benefits at the EBIT level as Date Established 15-Nov-2010 a result) and peer performance, flags a troubling lack of brand appeal, in our view, Investment Opinion B-3-7 Volatility Risk MEDIUM that we fear will take some time to redress given a challenging 2011-12. 52-Week Range EUR5.06-EUR6.97 Beyond cotton…between a rock and a hard place… Mrkt Val / Shares Out (mn) EUR931 / 182.7 We think BEN will be struggling with a number of very key issues in the MT: over- Average Daily Volume 297,628 reliance on a stagnant and increasingly competitive domestic market (46%), BofAML Ticker / Exchange BNTOF / MIL Bloomberg / Reuters BEN IM / BNG.MI soaring input costs (a first toll in Q4-10 and H1-11), the need to continue to run a ROE (2010E) 7.4% ‘nice price’ policy with many of its retail clients, relatively small exposure to Asia Net Dbt to Eqty (Dec-2009A) 38.4% (16%) and China in particular, and what appears to be a troubling lack of profile in Est.
    [Show full text]
  • Film in São Paulo
    FILM IN SÃO PAULO Guidelines for your new scenario spcine.com.br filmesp@spcine.com.br @spcine_ and @spfilmcommission /spcinesp PRODUCTION GUIDE 2020 1 2 FILM IN SÃO PAULO Guidelines for your new scenario PRODUCTION GUIDE 2020 Art direction and design: Eduardo Pignata Illustrations: Bicho Coletivo 3 4 CHAPTER 3 - FILMING IN SÃO PAULO _ P. 41 Partnership with Brazilian product company _ p. 43 CONTENT Current co-production treaties _ p. 44 Entering Brazil _ p. 45 Visa _ p. 46 ATA Carnet _ p. 51 Taxes _ p. 52 Remittance abroad taxes _ p. 53 IRRF (Withholding income tax) _ p. 53 Labour rights _ p. 54 CHAPTER 1 - SÃO PAULO _ P. 9 Workdays and days off _ p. 55 Offset time compensation _ p. 55 An introduction to São Paulo _ p. 11 Payment schedule _ p. 56 Big productions featuring São Paulo _ p. 17 Health & safety protocols _ p. 59 The Brazilian screening sector around the world _ p. 21 Filming infrastructure _ p. 61 São Paulo’s main events _ p. 23 Sound stages _ p. 62 São Paulo’s diversity _ p. 26 Equipment _ p. 62 Daily life in São Paulo _ p. 65 Locations _ p. 66 Weather and sunlight _ p. 69 Safety & public security _ p. 70 Logistics _ p. 70 Airports _ p. 71 Guarulhos Airport _ p. 71 CHAPTER 2 - SPCINE _ P. 27 Congonhas Airport _ p. 72 Who we are _ p. 29 Viracopos Airport _ p. 72 Spcine _ p. 30 Ports _ p.
    [Show full text]
  • Annual Report 2004
    04 Bringing growth into focus. Annual Report 2004. 04 a successful year for Continental. 2 2 Continental Corporation in € millions 2004 2003 2002 2001 2000 Sales 12,597.4 11,534.4 11,408.3 11,233.3 10,115.0 EBITA¹ 1,096.4 855.2 694.3 32.8 533.0 Consolidated net income/loss for the year 673.8 314.0 226.0 - 257.6 204.7 Dividends 116.3² 70.4 58.6 – 64.1 Cash flow 1,443.8 985.9 919.0 666.5 866.3 Capital expenditure on property, plant, and equipment 672.4 583.5 581.2 704.9 682.8 Amortization and depreciation³ 665.7 603.1 670.3 891.3 654.7 Shareholders’ equity 2,842.3 1,983.2 1,715.2 1,546.7 1,844.1 Equity ratio in % 29.4 23.9 20.9 17.2 24.2 Employees at the end of the year 4 80,586 68,829 64,379 65,293 63,832 Share price (high) in € 47.26 30.98 19.53 19.45 20.94 Share price (low) in € 28.87 12.04 11.72 9.68 15.85 ¹ Earnings before interest, taxes and regular goodwill amortization ² Subject to the approval of the Annual Shareholders’ Meeting on May 12, 2005 ³ Excluding write-downs of investments 4 Excluding trainees Continental Divisions Sales in € millions 2004 2003 Automotive Systems 5,007.7 4,625.7 Passenger and Light Truck Tires 4,104.2 3,907.2 Commercial Vehicle Tires 1,500.7 1,261.6 ContiTech 2,063.4 1,812.2 EBIT in € millions 2004 2003 Automotive Systems 487.5 369.5 Passenger and Light Truck Tires 383.4 345.8 Commercial Vehicle Tires 100.3 82.4 ContiTech 150.4 144.0 Bringing growth into focus.
    [Show full text]
  • List of Section 13F Securities
    List of Section 13F Securities 1st Quarter FY 2004 Copyright (c) 2004 American Bankers Association. CUSIP Numbers and descriptions are used with permission by Standard & Poors CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved. No redistribution without permission from Standard & Poors CUSIP Service Bureau. Standard & Poors CUSIP Service Bureau does not guarantee the accuracy or completeness of the CUSIP Numbers and standard descriptions included herein and neither the American Bankers Association nor Standard & Poor's CUSIP Service Bureau shall be responsible for any errors, omissions or damages arising out of the use of such information. U.S. Securities and Exchange Commission OFFICIAL LIST OF SECTION 13(f) SECURITIES USER INFORMATION SHEET General This list of “Section 13(f) securities” as defined by Rule 13f-1(c) [17 CFR 240.13f-1(c)] is made available to the public pursuant to Section13 (f) (3) of the Securities Exchange Act of 1934 [15 USC 78m(f) (3)]. It is made available for use in the preparation of reports filed with the Securities and Exhange Commission pursuant to Rule 13f-1 [17 CFR 240.13f-1] under Section 13(f) of the Securities Exchange Act of 1934. An updated list is published on a quarterly basis. This list is current as of March 15, 2004, and may be relied on by institutional investment managers filing Form 13F reports for the calendar quarter ending March 31, 2004. Institutional investment managers should report holdings--number of shares and fair market value--as of the last day of the calendar quarter as required by Section 13(f)(1) and Rule 13f-1 thereunder.
    [Show full text]
  • O Imaginêrio De Antonio Carlos Jobim
    O IMAGINÁRIO DE ANTONIO CARLOS JOBIM: REPRESENTAÇÕES E DISCURSOS Patrícia Helena Fuentes Lima A dissertation submitted to the faculty of the University of North Carolina at Chapel Hill in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Romance Languages (Portuguese). Chapel Hill 2008 Approved by: Advisor: Monica Rector Reader: Teresa Chapa Reader: John Chasteen Reader: Fred Clark Reader: Richard Vernon © 2008 Patrícia Helena Fuentes Lima ALL RIGHTS RESERVED ii ABSTRACT PATRÍCIA HELENA FUENTES LIMA: Antonio Carlos Jobim: representações e discursos (Under the direction of Monica Rector) My aim with the present work is to describe the personal and creative trajectory of this artist that became known to his audience and people as a hero in the mythological sense—an individual that constructs a series of victories and defeats that continues until death, after which he is glorified by his community. Therefore, I approach the narratives that made him famous: the ones produced by the print press as well as those texts that negotiate meaning, memory, domain and identity created by his fans. I will place special emphasis on the fact that his public produced a definitive narrative about his figure, an account imbued with devotion, familiarity and creativity following his death. More specifically, I identify intertwined relations between the Brazilian audience and the media involved with creating the image of Antonio Carlos Jobim. My hypothesis is that Antonio Carlos Jobim’s image was exhaustively associated with the Brazilian musical movement Bossa Nova for ideological reasons. Specially, during a particular moment in Brazilian history—the Juscelino Kubitschek’s years (1955-1961).
    [Show full text]
  • Benetton Colours Debut in Printemps Haussmann, Iconic Shopping Destination in Paris
    BENETTON COLOURS DEBUT IN PRINTEMPS HAUSSMANN, ICONIC SHOPPING DESTINATION IN PARIS United Colors of Benetton continues to expand its distribution network, bringing the premium level collections to the most prestigious department stores Ponzano Veneto, 30th August 2019 - After partnering with London’s Selfridges, an historic address for international shopping, Paris temple of shopping Printemps Haussmann, has also chosen the United Colors of Benetton collections. On the third floor of the department store - located in the heart of Paris, on Boulevard Haussmann - Benetton Group has inaugurated the new United Colors of Benetton space. Dedicated entirely to women, the new corner inside the prestigious location will host the garments of the Fall- Winter 2019/2020 collection by Jean-Charles de Castelbajac, artistic director of the brand since October 2018. A celebration of the brand's DNA, in which colourful energy, Italian knitwear expertise, creative details and sporty-chic spirit mix together and bring a contemporary, pop universe to life. The Benetton space inside Printemps Haussmann, covering an area of 200 square metres, is divided into two areas: one dedicated to the premium collections, the other housing knitwear garments that give life to a great colour theatre. The two areas are connected by coloured threads that recall the characteristic “stitch” of the United Colors of Benetton logo, located at the entrance of the Benetton area. The coloured thread extensions radiate into the space, taking various forms and directions: starting as hanging rails to display the collection, they transform into multi-coloured paths that lead to the Benetton garments displayed in the "Color Theatre", where the iconic knitwear line is celebrated.
    [Show full text]
  • Division of Investment Department of the Treasury State of New Jersey Pension Fund June 30, 2009 and 2008 (With Independent Auditors’ Report Thereon)
    F INANCIAL S TATEMENTS, M ANAGEMENT’ S D ISCUSSION AND A NALYSIS AND S UPPLEMENTAL S CHEDULES Division of Investment Department of the Treasury State of New Jersey Pension Fund June 30, 2009 and 2008 (With Independent Auditors’ Report Thereon) Division of Investment Department of the Treasury State of New Jersey Pension Fund Financial Statements June 30, 2009 and 2008 Contents Independent Auditors’ Report ..........................................................................................................1 Management’s Discussion and Analysis .........................................................................................3 Basic Financial Statements: Statements of Net Assets .................................................................................................................7 Statements of Changes in Net Assets...............................................................................................8 Notes to Financial Statements ..........................................................................................................9 Supplemental Schedules: Schedule 1 – Combining Schedule of Net Assets ..........................................................................31 Schedule 2 – Combining Schedule of Changes in Net Assets .......................................................32 Schedule 3 – Portfolio of Investments – Common Fund A ...........................................................33 Schedule 4 – Portfolio of Investments – Common Fund B ...........................................................57
    [Show full text]
  • Marco Boglione and Adriano Moraglio
    People on the Move Marco Boglione and Adriano Moraglio Slowly please, I’m in a hurry Entrepreneur is cool! Basic Edizioni All rights reserved © 2009 Marco Boglione and Adriano Moraglio, Torino Original title «Piano piano che ho fretta» Printed in Torino, Italy Release 1.1.1 English translation by Daniel Monti ISBN 978-88-905499-1-5 To our children FOREWORD A corrispondence A friendship Marco and I have known each other for some time. I started to take an interest in him as a journalist when he was filling institutional posts, to be precise from the time he became president of Film Commission and later took up the same post for ITP (Investment in Turin and Pied- mont), the Agency devoted at the time to attracting foreign investors to Piedmont. When I met him I liked him immediately. Moreover it was clear that he had decided to offer his experience as an entrepreneur to a public body for a set period without seeking any profit whatsoever, profit being the purpose of any entrepreneurial venture. In spring 2008 I fancied a chat with him again so I set up a meeting. I did not have to interview him for my newspaper or gather information on his group, BasicNet, owner of the famous Kappa, Robe di Kappa, Jesus Jeans, Superga, K-Way brands. The last time I had seen him it had been at a jazz evening I had organized: he attended with his “wife” Stella (I’ll explain the meaning of the in- verted commas later). I told him I loved pizza and he invited me to that extraordinary pizzeria known as Fratelli La Cozza, behind BasicNet’s headquarters in Torino, under the very roof that saw the dawn of local industrial activity in 1916, when Abramo Vitale – a second name that will play a fundamental part in Marco Boglione’s existence – established Società Anonima Calzificio Torinese.
    [Show full text]
  • Benetton Group
    Gruppo Banca Leonardo June 23 2009 Benetton Group UNDERWEIGHT A fancy color diamond Target price €5.4 (from previous TP €5.0) Benetton Group is one of the main global players in the apparel business, present Current price €6.3* in 120 countries with over 6,200 stores and five brands. In 2008 the business was *Price as of June 18 2009 re-focused on four strategic priorities: 1) accelerating expansion in five key emerging countries; 2) pursuing growth in consolidated markets; 3) developing Outstanding shares (m) new commercial initiatives; 4) evolving the culture of the organization. Starting 183 from 2008 the company has also adopted a new approach focused on the final Mkt. Cap.(€m) consumer, leveraging on the wholesale business model with a sell-out approach. 1,156 Due to the changed economic environment the company also adopted in 2009 a Avg. daily volumes (30 days) reorganization plan focused on boosting the commercial business, on optimizing 251,600 shares the supply chain and costs, and on cash generation, aimed at motivating the Main shareholders network and re-thinking the supply chain processes to create a lower cost base. Edizione 67.1% Even if we appreciate the reorganization plan and the new company approach to Reuters / Bloomberg the market, we remain cautious given the low visibility on future consumer trends. BEN.MI / BEN IM UNDERWEIGHT with a €5.4 target price. Last 12 months Catalysts High: €8.3 Low: €4.4 1) Unfavourable macroeconomic conditions; 2) pressure on sales and margins; 3) business proposition "quality at an accessible price"; 4) new sell-out approach; 5) reorganization plan; 6) potential new consumers from trading-down trend; 7) new commercial initiatives (i.e.
    [Show full text]
  • In Public Spaces Larry Latimer, the Authority On
    Thursday, Aug. 1, 2019 Vol. 18 No. 17 NEWS SPORTS NEWS PHILANTHROPY Girls on Fire Boxing debut Sussman Kiwanis donation summer camp at age 49 groundbreaking to symphony SEE PAGES 3 SEE PAGE 4 SEE PAGE 9 SEE PAGE 8 Downey Larry Latimer, the authority on Downey restaurant grades Narai Thai Cuisine history, remembered after death 7611 Firestone Blvd. Date Inspected: 7/30/19 Friday Friends remember Larry Among those at the Grade: A Weekend91˚ celebration of Larry’s Life were Latimer as a “Reinaissance John and Suzy Lacey, Jack and Bob’s Bog Boy at a man” who literally wrote Judy Faust, Carol Kearns, Vicki 7447 Firestone Blvd. Glance Spearman, Virginia Yoshiyama, Date Inspected: 7/30/19 Saturday 89˚⁰ the book on Downey’s Dr. Bob Flynn, Bernie Lewis, Friday 68 history. Beth Gendreau from the Food Grade: A Bank, and Claudia Dailey from the Downey Library where Larry’s Time Out Burger He died suddenly July 23 mother Cleo devoted herself to the 11219 Old River School Rd. Sunday 88˚ ⁰ Friends of the Downey Library. 70 at age 61. Date Inspected: 7/30/19 Saturday A contingent from the Grade: A Aerospace Legacy Foundation By Lorine Parks that Larry helped create was led Royal Liquor Grocery Society Columnist by Gerald and Kathie Blackburn, 13103 Lakewood Blvd. THINGS TO DO friends since the 90’s. Jerry was Date Inspected: 7/29/19 DOWNEY - The pews were Project Manager with the Boeing filled at St. Raymond’s Church in Space and Communications Grade: A Downey, to celebrate the too- Corporation at the Downey site short life of Larry Latimer.
    [Show full text]
  • Government Gazette Republic of Namibia
    GOVERNMENT GAZETTE OF THE REPUBLIC OF NAMIBIA N$16.68 WINDHOEK- 2 September 1996 No. 1396 CONTENTS TRADE MARKS .............................................................................................................................. APPLICATIONS FOR REGISTRATION OF TRADE MARKS IN NAMIBIA (Applications accepted in terms of Act No. 48 of 1973) '\ Any person who has grounds for objection to any of the following trade marks, may, within the prescribed time, lodge Notice of Opposition on form SM6 con­ tained in the Second Schedule to the Trade Marks Rules in Namibia, 1973. The prescribed time is two months after the date of advertisement. This period may on application be extended by the Registrar. Where the Gazette is issued late, the period of opposition will count as from the date of issue and a notice relating thereto will be displayed on the public notice board in the Trade Marks Registry. Formal opposition should not be lodged until after notice has been given by letter to the applicant for registration so as to afford him an opportunity of withdrawing his application before the expense of preparing the Notice of Opposition is in­ curred. Failing such notice to the applicant an opponent may not succeed in ob­ taining an order for costs. "B" preceding the number indicates Part B of the Trade Mark Register. Neither the office mentioned hereunder nor Central Bureau Services (Pty) Ltd., acting on behalf of the Government of Namibia, guarantee the accuracy of this publication or undertake any responsibility for errors or omissions or their conse­ quences. E.T. KAMBOUA REGISTRAR OF TRADE MARKS FOR NAMIBIA 2 Government Gazette 2 September 1996 No. 1396 TRADE MARKS REMOVED FROM 1 JULY 1992 TO 30 JUNE 1996 NO.
    [Show full text]
  • The Streaming Wars in the Global Periphery: a Glimpse from Brazil
    PRODUCTIONS / MARKETS / STRATEGIES THE STREAMING WARS IN THE GLOBAL PERIPHERY: A GLIMPSE FROM BRAZIL MELINA MEIMARIDIS, DANIELA MAZUR, DANIEL RIOS Name Melina Meimaridis the expression “streaming wars.” This research Academic centre Federal Fluminense University, Brazil offers a glimpse of Brazil’s audiovisual industry and E-mail address melmaridis@hotmail.com tries to understand how American streaming companies are penetrating this market and how the local media Name Daniela Mazur conglomerates are reacting. In order to maintain their Academic centre Federal Fluminense University, Brazil dominance in the region, free-to-air networks, pay-tv E-mail address danielamazur@id.uff.br networks, and Brazilian telecommunication companies are using different strategies, either creating their own Name Daniel Rios platforms or partnering with pre-established ones in favor Academic centre Federal Fluminense University, Brazil of strengthening themselves. Given Brazil’s particular E-mail address daniel_rios@id.uff.br television organization, based largely on a few broadcast networks, local media conglomerates have fostered a KEYWORDS mutualistic relationship with their streaming platforms. Internet-distributed television; Globoplay; The largest national streaming company, Globoplay, has Brazilian television; local; Netflix. stood out in the local market: not only making TV Globo’s productions available but also producing original content and offering foreign series exclusively. Because traditional ABSTRACT television consumption is deeply rooted in the country, Considering the current proliferation of video several different strategies are required if TV Globo aims streaming platforms as a worldwide phenomenon, this to transform viewers into Globoplay subscribers. The article analyzes how countries in the global periphery are Brazilian case study reveals nuances and strategies from adapting to this effervescent scenario, characterized by a media industry in the global periphery.
    [Show full text]