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slfinance · 3 years

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U.S. P/C Appointed Actuaries - 2019 Changes

SL FINANCIAL is an actuarial consulting and advisory firm based in Miami, Florida. We offer complete actuarial solutions in both traditional (re)insurance and alternative risk financing industries.

Historically, U.S. property and casualty (P/C) actuarial education was provided by the Casualty Actuarial Society (CAS), while all other educational tracks or specialties were covered by the Society of Actuaries (SOA). As such, the National Association of Insurance Commissioners (NAIC) definition of a qualified actuary eligible to be an Appointed Actuary included only membership of the CAS as core requirement.

Following the introduction of a General Insurance (GI—aka P/C) track in October 2011, the SOA asked the NAIC to also include a Fellow of the Society of Actuaries (FSA) who had successfully completed the SOA’s GI track. A summary of the the process of reviewing the SOA’s GI track is presented below:

2015 – SOA requested that NAIC determines whether its GI track can be included in NAIC definition of a qualified actuary and NAIC opted to conduct an independent review by hiring a consultant to conduct such a review and assigning an Executive (EX) Ad Hoc Group of commissioners to oversee the project.

2017 – NAIC released the results of the consultant’s work. The SOA’s GI track was found to lack the necessary breadth and depth to meet the minimum educational standards, while the CAS membership was found acceptable, with some question about the associateship level.

2017 – NAIC hired a consultant to conduct a P/C Appointed Actuary Job Analysis aiming at re-defining a Qualified Actuary based on objective criteria. NAIC then worked with the CAS, SOA and the American Academy of Actuaries (Academy) to complete the Job Analysis, draft educational standards, conduct assessments of the CAS and SOA syllabi, and expose/implement revised actuarial opinion instructions.

2018-2019 – NAIC P/C Appointed Actuary Job Analysis and NAIC P/C Educational Standards and Assessment projects were completed by NAIC assisted by numerous subject matter experts (SME) nominated by the CAS, SOA and Academy. These projects resulted in documentation of knowledge statements (i.e. what an Appointed Actuary needs to know for the P/C Appointed Actuary job) and elements of each knowledge statement that should be included in basic education as a minimum educational standard, with the remaining elements achievable through experience or continuing education.

2019 – CAS and SOA have made or agreed to make minor changes to their syllabi and reading materials to meet these minimum standards; with effective date Jan. 1, 2021.

2019 – NAIC finalized the assessment of CAS and SOA, with following designations and exam requirements being NAIC Accepted Actuarial Designation:

Fellow of the CAS (FCAS) with successful completion of Exam 6-US

Associate of the CAS (ACAS) with successful completion of Exam 6-US and Exam 7

FSA with successful completion of the GI track, including Financial and Regulatory Environment (FRE)-US Exam and Advanced Topics in GI (ADV) Exam

2019 – NAIC also proposed exams substitution table and/or recommendation for actuaries that achieved qualification under the 2018 and prior definition of qualified actuary.

As per the approved 2019 NAIC P/C Annual Statement Instructions, an Appointed Actuary is a Qualified Actuary (or individual otherwise approved by the domiciliary commissioner) appointed by the Board of Directors in accordance with Section 1 of the instructions. “Qualified Actuary” is a person who:

meets the basic education, experience and continuing education requirements of the Specific Qualification Standard for Statements of Actuarial Opinion, NAIC Property and Casualty Annual Statement, as set forth in the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (U.S. Qualification Standards), promulgated by the American Academy of Actuaries (Academy), and

has obtained and maintains an Accepted Actuarial Designation; and

is a member of a professional actuarial association that requires adherence to the same Code of Professional Conduct promulgated by the Academy, requires adherence to the U.S. Qualification Standards, and participates in the Actuarial Board for Counseling and Discipline when its members are practicing in the U.S.

An exception to parts (i) and (ii) of this definition would be an actuary evaluated by the Academy’s Casualty Practice Council and determined to be a Qualified Actuary for particular lines of business and business activities.

SL FINANCIAL played a prominent role assisting the NAIC completing these projects:

SMEs in NAIC P/C Appointed Actuary Job Analysis Project

SMEs in NAIC P/C Educational Standards and Assessment Project

Provided feedback to NAIC exposure drafts

Our CEO has over 16 years of experience in reinsurance and consulting. Upon completing designation as Fellow of the Institut des Actuaires of France (FIAF) and moving to the U.S., he was evaluated by the Academy’s Casualty Practice Council and determined to be a Qualified Actuary. Being determined to further demonstrate qualification via examinations, he became in 2015 the first FSA to complete the SOA’s GI track.

Over the past three years, SL FINANCIAL managed to increase presence in Florida, Africa and the Caribbean. Our key expertise includes: Appointed Actuary, Rate Filing, Reinsurance Pricing and Catastrophe Modeling.

#actuarial & risk consulting actuarial & risk consulting services actuarial & risk consultants actuarial analytics and risk consultants comm

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longlistshort · 5 years

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Currently at Gladstone Gallery’s 21st Street Location in New York is Allora & Calzadilla’s exhibition Cadestre.

From the press release–

The exhibition revisits the Surrealist encounter with the anti-colonial movement in the Caribbean to consider present forms of coloniality and its relation to climate justice. The artists have taken inspiration from the radical and transformative collection of poems by Martinican poet and politician Aimé Césaire under the same name. The term “cadastre” refers to the means by which the territorial limits of private property are publicly registered. Taking cue from the powerful mechanics of Césaire’s writing, Allora & Calzadilla’s exhibition Cadastre brings together three works all informed by a poetics of mark making, traces, and survival.

In April 1941, the anti-colonial Martinican poets and theoreticians Susanne and Aimé Césaire, founders of the literary journal Tropiques, met with a group of artists and intellectuals fleeing Nazi-occupied France, whose boat had temporarily docked at the West Indian port of Fort-de-France. The refugees included Helena Benitez, André Breton, Wifredo Lam, Jacqueline Lamba, Claude Lévi-Strauss, André Masson, and Victor Serge, among others. Penumbra takes as its point of departure the now mythic hikes the group took in the gouffre d’Absalom valley in Martinique, which served in part as inspiration for Lam’s masterpiece, The Jungle. Penumbra is a soundscape of “shadow tones,” a psycho-acoustic phenomenon perceived when two real tones create the semblance of a third. The original musical composition by David Lang uses nonlinear distortion of violin sounds to evoke the sensation of walking through that tropical forest.

In Graft, thousands of cast blossoms of the Tabebuia chrysantha tree, a common native species in the Caribbean, appear as though a wind had swept them across the gallery floor. Graft alludes to environmental changes set in motion through the interlocking effects of colonial exploitation and global climatic transformation. Systemic deforestation and depletion of the Caribbean’s original flora and fauna is one of the primary legacies of colonialism. Nevertheless, the Caribbean remains a biodiversity hotspot and, along with thirty-five other hotspots worldwide (which amount to just 2.4% of the earth’s land surface), supports nearly 60% of the world’s plant, bird, mammal, reptile, and amphibian species. As rising global temperatures result in more frequent and violently destructive weather, adding even more pressure to the Caribbean, the uncanny presence of tropical tree blossoms in Graft stands as a potent harbinger for the immeasurable losses that continue unabated after centuries of colonial plunder.

Measuring 6 feet in height and 70 feet in length, and covering the east and south walls, the exhibition’s eponymous work, Cadastre takes electromagnetism as its subject and medium. To make the work, Allora & Calzadilla dropped iron filings on top of a canvas and placed it above an array of copper cables connected to an electrical breaker in the artists’ studio in San Juan, which gets its power from the Puerto Rico Electric Power Authority. When the breaker is turned on, the electrical current causes the iron particles to self-organize into a composition of lines and shapes governed by the electromagnetic field. As the Latin title and full subtitle (Meter Number 18257262, Consumption Charge 36.9kWh x $0.02564, Rider FCA-Fuel Charge Adjusted 36.9 kWh x $0.053323, Rider PPCA-Purchase Power Charge Adjusted 36.9kWh x $0.016752, Rider CILTA-Municipalities Adjusted 36.9kWh x $0.002376, Rider SUBA Subsidies $1.084) suggest, the work probes the propriety politics of electricity and the power grid. Cadastre is part of a continuum of multiple sites and actors that the artists are probing through their artistic process working with electricity, from the oil futures market, to the transnational holders of PREPA bond debt, to the local consumers who are forced to pay for the recently privatized power company’s fiscal mismanagement.

This exhibition closes 11/2/19.

Recently, their film, The Great Silence, was shown at Marciano Art Foundation in Los Angeles. It is subtitled with thoughts from the perspective of an endangered Puerto Rican parrot who lives in the same area as the Arecibo Observatory, which was created to capture and transmit radio waves from and into outer space. The parrot questions why humans look to communicate and make a connection with extraterrestrial life, when there are parrots who can potentially use human language nearby.

It’s a thought provoking and moving piece, well worth a watch.

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#allora and caldazilla #gladstone gallery #nyc art shows #chelsea galleries #art shows #mixed media #film #the great silence #parrots #arecibo observatory #los angeles art shows #marciano art foundation

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mikemortgage · 5 years

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Posthaste: Big LNG buyer eyes Canada, Scotiabank to exit the Caribbean and ‘Tariff Man’ plans new levies on the EU

Good morning!

Even before you build it, they will line up to buy: Japan’s JERA, the world’s biggest LNG buyer, has agreed to buy up to 1.2 million tonnes per annum, of super-cooled natural gas from the LNG Canada project, even before it is built. Bank of Nova Scotia is turning its back on the sunny climes of the Caribbean — seen as another move to consolidate its once-expanding banking footprint. U.S. President Donald Trump — also known as Tariff Man — plans new duties on a smorgasbord of EU products. And Foreign Affairs Minister Chrystia Freeland to discuss the fraying USMCA agreement at a Senate hearing today.

Here’s what’s breaking this morning:

Bank of Nova Scotia’s plan to sell assets in Caribbean facing scrutiny from local watchdog

World’s biggest buyer of LNG for first time signs deal to buy 1.2 million tonnes a year from Canada

Trump said to seek limits on state power in pipeline approvals

U.S. eyes tariffs on $11b of EU goods over Airbus aid; EU prepares retaliation

Canada’s Valeura on cusp of tapping 10 trillion cubic feet of gas in Turkey that would give Europe alternative to Russian energy

For whom the road tolls: Ontario’s $32.5 billion highway highlights private asset boom

Shock turns to anxiety for FCA workers on the bubble

Ontario government to require province’s gas pumps to display carbon-tax price stickers

Canada Goose to open stores in Europe, USA and Canada

5G battle among U.S. wireless companies sparks hiring spree

Ballard signs supply pact With Norled for fuel cell modules

Chinese real estate investors wary of Vancouver head to Toronto

Pot patchwork to limit Canadian sales to $5.2 billion by 2024

‘Lobbied to death’: Liberals face backlash over corporate responsibility ombudsman

Agricultural sector buckling in for a period of tight margins, volatile markets and consumer opposition

That investment fees are falling is a popular narrative, but it’s not the whole story

We still don’t understand the post-crisis economy, so don’t expect it to behave like the past

Alberta Premier Rachel Notley testifies by video at 11am ET before the Senate transport committee on Bill C-48, the Oil Tanker Moratorium Act

The Chemistry Industry Association of Canada presents the industry’s concerns about the federal government’s proposed Clean Fuel Standard in Ottawa

The Parliamentary Budget Officer posts a new report ‘Infrastructure Update: Investments in the Territories

Richardson International Ltd.’s vice-president of corporate affairs appears alongside the Canadian Canola Growers Association at the Commons trade committee in Ottawa at 3.30pm

Foreign Affairs Minister Chrystia Freeland appears before the Senate foreign affairs committee on issues related to initiatives listed in her mandate letter, the Canada-United States-Mexico Agreement (CUSMA) and Brexit at 4 p.m.

The Senate Committee on Energy, the Environment and Natural Resources continues conducting public hearings on Bill C-69 in Calgary

The Bank of Nova Scotia holds its annual meeting of shareholders in Toronto

Notable Earnings: Shaw Communications, Cogeco and Cogeco Communications

Low commodity prices, a decline in capital spending and uncertainty about getting oil and gas to market are putting jobs at risk, according to a new report

Are you in the oil and gas sector? How do you see your job prospects in the coming years? Send your comments, tips and stories to Yadullah Hussain at [email protected] or @YAD_FPEnergy

— With files from The Canadian Press, Thomson Reuters and Bloomberg

from Financial Post http://bit.ly/2VuTItD via IFTTT Blogger Mortgage Tumblr Mortgage Evernote Mortgage Wordpress Mortgage href="https://www.diigo.com/user/gelsi11">Diigo Mortgage

#IFTTT #Financial Post

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bestdaytradingplatform-blog · 6 years

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How to Choose Your Forex Broker

For a trader the broker is the key partner in his activity, choosing the right broker can make a huge difference on the trading results.

Here is a check list of the most important points to check:

1. Since how long is he in the business?

It’s good to remind that a Forex broker is not a bank, in case of bankruptcy the bank should be recapitalized most of the time by the local government, but not Forex brokers.

In 2015 with the swiss franc flash krach several brokers like alpari, excel markets… simply disappeared, in only 1 day! That’s why it’s so important to choose a broker that is in business since a very long time, he already learned how to manage hard times.

2. Which regulations?

FCA (UK) and CFTC (USA) are the most difficult regulations to obtain, compared to the cysec (Cyprus) for example.

A broker without the FCA is just not safe enough – he didn’t pass the security controls. Without regulation there will be no possibility to complain in case of dispute!

3. Which location?

Better forget the brokers in exotic countries, brokers located in US or UK are the safest ones.

Most of the times if brokers are located in exotic locations like Caribbean or Cyprus it’s because they want to pay less taxes, but also because there it will be very complicated to complain in case of dispute.

4. Physical presence around the world – staff

It’s logical but not all the traders take the time to make the research, you can choose brokers with offices in 36 countries, or 1 office in 1 country, what looks the safest?

5. Spreads & commissions

Here is a huge difference! Some brokers having a spread of 0, 2 on eur/usd other ones 3 pips!

This difference can be even worst with exotics pairs – From the studies we know that the brokerage cost have big responsibility in the ruin of 90% of the traders.

6. Fixed or floating spread

Beginners usually think that fixed spread is a good deal – WRONG – on the market the spread depends on the liquidity- it’s the law of the supply and demand -If the spread is high that’s the proof that the liquidity is low > not the good timing to enter into the market – but when the liquidity is good it’s possible to have a 0, 00 spread so why do you pay 3 if you can get 0?

7. Commission included or not?

Most of the time the best brokerage firms separate the commission from the spread, for the novice it looks weird but it’s far better, because it allows to see the real cost of the brokerage – the spread is not the cost , it depends from liquidity – the commissions per million of notional value vary from 25$ to 60! Here is again a very important detail to check...

8. Trading platform – execution

Here again a lot of hidden costs, latency, last look, requites, orders not filled…

Even if the spread is low, if you are not executed close from the price that you see when you click the button, it’s a cost that can change dramatically the result of your trade.

9. MT4 and API access

MT4 is probably the most used trading platform in the world, what doesn’t mean it’s the best one. Ergonomic, commissions cost (MT4 commissions are billed to your broker) Professional algorithmic traders will prefer to have a direct access to the API of the broker instead of losing latency with MT4. Here access conditions to the API are very different depending on the broker, some are charging 600$/month, or request a minimum deposit of 50 000$… Other ones are just free.

10. Minimum deposit

Most of the less serious brokers try to attract clients with very low deposits. 1$ -10$-100$

While the most reputable are placing an entry “fence” at minimum 10 000$ deposit.

That is far more realistic, trading is a business that requires a consequent starting capital.

11. Withdrawal/ deposit fees

Totally Free with some broker, other ones can charge 20 $, 99$ or even 5% of deposit fee!

Conclusion: 2 Reputable Brokers we are working with

After 17 years on the markets testing and studying hundreds of brokerage offers we will recommend only:

1. Interactive Brokers: founded in 1978 IB is probably the largest broker in the world – the traders deposits are guaranteed by Insurance at Loyds.

IB is our favortite broker for stock and etf trading.

2. LMAX Exchange – the game changer (check out our special deal)

LMAX exchange is the only transparent market place for the Forex – with exceptional execution, low commissions and spreads Lmax provide also excellent charting software for free to their clients.

Article Source: http://bestdaytradingplatform.com/blog-post/how-to-choose-your-forex-broker/

#top forex broker #best cfd brokers #Top Forex brokers list #best forex broker uk #trusted forex broker #top ten forex broker in the workd

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itsworn · 6 years

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Dodge’s 1954 Pace Car was also its First 4-Barrel Hemi Car!

The vivid Pace Car Yellow and Jewel Black two-tone paint are faded and the chrome Kelsey Hayes wire wheels are missing, but the rest of this 1954 Dodge convertible is solid and in original unrestored condition. The Indy Pace Car package added $201 and was only available on top-level Royal convertibles. No hardtops or sedans were built.

The story behind the story—that’s what the Junkyard Crawl is all about. To a casual observer, junk cars are nothing more than rusty eyesores to be crushed and hauled away as soon as possible. Gotta protect those property values, right? But junkyard crawlers know better.

Against all odds, the very special Red Ram Hemi was never spotted by engine swappers. Displacing a mere 241 cubic inches, the initial Dodge Hemi’s 3.4375 x 3.250 dimensions would eventually grow out to 3.690 x 3.800 for 325 cubes in 1957, its final year of production.

This month, we present a 1954 Dodge Royal convertible with the Indy Pace Car option. One of only 701 built, these open-air Dodges came standard with Dodge Red Ram Hemi power and numerous unique features not found on any other 1954 Dodge.

Under the gritty coating, the Offenhauser logo appears on Dodge’s first-ever four-barrel intake manifold application. When new, the entire Red Ram engine was painted silver, including the aluminum Offy manifold. The only missing item is the circular oil-bath air cleaner unit, which was painted yellow to match the body. The correct air cleaner is going to be tough to find…

First launched in 1953, the new Dodge Red Ram Hemi V8 measured 241 cubic inches and inhaled through a restrictive single two-barrel carburetor. It was a humble start. And again for 1954, the Red Ram—still at 241 cubes—suffered with a single two-barrel…unless it went into one of these Indy Pace Car ragtops! For the first time, the Pace Cars stepped up to single 450cfm Carter WCFB four-barrel carburetor for a 20-click boost to 170 horsepower.

Before the Carter AFB and Holley 4150-series four-barrel carburetors arrived in 1957, the Carter WCFB was a popular choice for Detroit carmakers seeking to feed their ever-growing V8 engines. Packard even used one on their 1954 inline eight. Rated at 450 cfm, the WCFB was perfect for the Red Ram’s 241 cubes, but was restrictive on bigger V8s. To cope, cars like the 372-cube Packard Caribbean, 331-cube Chrysler C300, and 265-cube 1956 Corvette used two WCFBs, coining the popular term “dual quad.” In 1956, 3,080 out of 3,467 Corvettes were ordered with the RPO 469 dual-quad 265 V8!

But there was a hiccup. Dodge lacked its own four-barrel intake manifold. Think about that, Dodge—the company who only a few years later would crank out thousands of tandem dual-quads, long rams, cross rams, Hyper-Paks, and Six Packs—didn’t have a lousy 1×4 intake manifold in 1954!

Transmission choices for the 1954 Indy Pace Car (and other Dodge Red Ram cars) included a three-speed manual with column shift, three-speed column shift with overdrive ($98), and the all-new Power Flite automatic, as seen here ($189). Offered throughout Chrysler Corp.’s divisions, Power Flite was Chrysler’s first fully automatic transmission. Equipped with a four-element torque converter and two-speed planetary gearbox, the cast-iron Power Flite had a 1.72:1 Low gear ratio (1:1 in Drive) and was air cooled. A stamped tin fin structure spot welded to the torque converter drew 280 cu. ft. per minute over the converter housing to help cool the fluid.

So while the Dodge elves toiled on better intake manifolds (a cast-iron four-barrel unit finally arrived in 1955), for the 1954 Pace Cars a deal was struck with California speed equipment merchant, Offenhauser Sales Corp.

An externally mounted spare tire was included with the Indy Pace Car equipment. The original tire enclosure was painted Pace Car Yellow to match the body and had a 10-inch opening in the center to clear the wire wheel’s hub. This forces Pace Car restorers to buy five wire wheels to get it right.

Long known for its Indy-dominating 270-cube Offy inline four-cylinder racing engines, Offy was also a major player in the hot rod aftermarket. For the Pace Car editions, they whipped up a lightweight aluminum dual-plane manifold casting. And yes, that nifty induction setup is still present on this junkyard discovery.

Lets’ take a peek at this amazing rare junkyard discovery to learn more about it and its back story.

Built nearly a decade before the Detroit bucket seat fad, the Pace Car shared its bench seat interior with lesser Dodges. The 120-mph speedometer and “Royal V8” dash emblem reminded passengers they were in something special.

The unmolested, original-paint firewall reveals this black grease pencil marking which seems to spell out the word “Indy.” Though not verified, it probably helped assembly line workers select the right components during Pace Car construction. Hand scrawled messages like this appear on many Chrysler vehicles and are a “must” for proper restoration.

Groovy Factoids!

The first Chrysler product to pace the Indy 500 was a 1926 Imperial driven by…Louis Chevrolet. Wha??? Remember, though Louis co-founded Chevrolet in 1911 with his younger brothers Gaston and Arthur, and legendary Detroit wheeler dealer William C. Durant, by 1926 Louis had sold his interest in the company that bore his family name.

Before the major American automakers had their own (private) test tracks and proving grounds, the Indy 500 race track facility was often rented for durability trials. In 1911 the first 500 mile race was held, and ever since, automakers clamored to have one of their models granted pace car duties. The assumption they could “go the distance” grew out of the track’s early days as a testing facility.

Bonus Material! As Dodge’s first high-performance offering with a standard four-barrel carburetor and dual exhaust, this piece of history is just as important as any Charger R/T, Coronet Super Bee, Challenger T/A, or Charger Daytona. It’s also accurate to say that the chain of Dodge performance cars that’s currently highlighted by the nine-second 2019 Demon wouldn’t have happened without this open-air Hemi car to light the fuse.

Let’s continue our exploration of this ground-breaking specialty car.

CAPTIONS:

Still wearing its factory applied Pace Car Yellow and Jewel Black two-tone paint scheme, this 1954 Dodge Royal Indy Pace Car edition was a convertible, like all of them. There is plenty of rust to cope with, but most of the needed parts are still present to do a full restoration to showroom condition.

Records indicate the Offenhauser aluminum intake and Carter WCFB four-barrel carburetor were shipped in the trunk, then installed at the dealership level. What happened to the 701 cast-iron manifolds and Stromberg two-barrel “take-off” parts is not known.

If you thought the Ram logo was new in 2009 (when FCA re-branded the Dodge truck line as Ram), here it is atop the 1954 Royal’s hood. The V8 logo below it sits in the center of an oval opening that would grow in size in 1955 and ’56. The center is open and flows air into the engine bay, but even on the much larger 1955-’56 designs, air flow was never directed into the air cleaner for extra performance. Dodge’s first functional (ducted) hood scoop wouldn’t arrive until the 1963 Max Wedge lightweight.

Implying victory at the end of a 500-mile race, Dodge’s 1954 Indy Pace Car was the first of many Detroit automakers to co-opt the crossed checkered flag symbol. For the 1955 Ford Thunderbird, a nearly identical crossed checkered-flag emblem (minus the number 500) was affixed to the ‘bird’s nose and tail. Dodge also revisited the logo on its 1955-up D500 and D501 equipped cars. This may have forced Ford to abandon the flags after 1955 in favor of a stylized turquoise thunderbird emblem. Chevy still uses the crossed flags for the Corvette today.

Another 1954 Dodge Royal Indy Pace Car trim detail is the numeric “500” emblem integrated into the body side trim. On lesser Dodges, the stainless steel trim flowed uninterrupted through this area. Dodge tooled specific trim just for the Pace Car, a surprising level of commitment considering that only 701 were built. If missing today, this trim is virtually impossible to find.

Dodge was still using conventional body-on-frame construction in 1954 (unitized construction arrived in 1960), making rust repair a bit easier. Note the “fluted” leaf springs. The recesses were formed into each leaf to suppress squeaks. The rear axle resembles the sturdy Mopar 8 3/4 but has a different bolt pattern. The center sections do not interchange. Like all Chryslers through 1964, two-piece axle shafts are used.

As seen in the December 1952 issue of Motor Trend, this full-page ad for the 1953 Dodge ushered in the Hemi era. Modern readers might wonder what all the fuss was about until it’s compared to the 230-cube flathead six it replaced. The ancient six produced 105 hp at 3,600 rpm and 185 lb-ft at 1,600 rpm. The new baby Hemi delivered 140 hp at 4,400 rpm and 220 lb-ft at 2,000 rpm, enough to deliver; “a thrilling reserve of acceleration that lets you drive with greater confidence and safety,” according to the ad. And to think, today’s Dodge ads brag about getting kicked off NHRA drag strips for being too fast. The “good old days” are right now…

One year after Dodge struggled to come up with a four-barrel intake manifold for the 1954 Dodge Royal Indy Pace Car program, Dodge got serious about performance. This 1955 Coronet NASCAR replica pays tribute to the Super Red Ram engine option which displaced 270 cubic inches and delivered 193 horsepower with a single four-barrel carburetor atop a cast-iron manifold. From here, Dodge would grow from strength to strength.

While Dodge was busy negotiating the purchase of aluminMore Groovy Factoids!um intake manifolds for the Pace Car editions, Chrysler Corp. and the AAA (the sanctioning body for the Indy 500 race) were in heated negotiations over a dead-ended “stock block” ruling that would have allowed Chrysler’s new 331 cubic-inch Fire Power Hemi to race against the Offy 270. Testing revealed the 400 horsepower Hilborn injected Hemis could top 137 mph and last for 500 miles doing it. This would have toppled Offenhauser’s monopoly on Indy. Frightened Offy team owners lobbied the AAA Contest Board to do something. They did. Rulebook revisions forced the Hemi to drop down to 270 cubic inches. Power fell to 350 hp and off-corner torque plummeted. Knowing the de-stroked Hemi stood no chance of being competitive, Chrysler backed out beforehand, and racing was done.

The Dodge Red Ram Hemi (and DeSoto Fire Dome) was flawed by the block’s 4.3125 inch bore spacing. This limited ultimate cylinder bore diameter and forced designers to boost deck height from 9.29 to 10.38 inches to boost the Red Ram from 270 to 315 cubes in 1956. And don’t forget, while the Dodge Red Ram, DeSoto Fire Dome, and Chrysler Fire Power Hemi V8 all looked similar, very few parts interchange.

The post Dodge’s 1954 Pace Car was also its First 4-Barrel Hemi Car! appeared first on Hot Rod Network.

from Hot Rod Network https://www.hotrod.com/articles/dodges-1954-pace-car-also-first-4-barrel-hemi-car/ via IFTTT

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dalaznews-blog · 6 years

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Analysis: ESMA and the Professionalisation of the Retail Industry

http://dalaznews.com/news/financial-and-business/analysis-esma-and-the-professionalisation-of-the-retail-industry/

It is been substantially much less than 4 months thinking about that the European Securities and Marketplaces Authority (ESMA), a regulatory whole physique whose recognize is most likely to ship shivers down the spines of retail brokers, announced its new limits on contracts-for-discrepancies (CFDs) and binary choices.

By now, most males and ladies in the retail marketplace are typical with the regulation but, for these of you who have been residing underneath a rock, ESMA’s edicts are continue to worthy of going much more than. Beware, this will make for scintillating stuff.

Binary options are out. Extended gone. Kaput. Finito. ESMA has decided to prohibit the marketing and advertising, distribution, and sale of them. This is effortless to recognize offered that the behaviour of chosen industry gamers has led many to consider that the antonym of ‘scrupulous’ is in easy truth ‘binary possibilities broker.’

Fewer effortless to recognize, at minimum from the viewpoint of many in the sector, are ESMA’s restrictions on CFDs investing. From the 1st of August of this 12 months, brokers will only be permitted to supply clientele with leverage of 30:1 on CFDs in essential forex pairs, 20:1 in indices, non-key forex pairs and gold and two:1 in cryptocurrencies.

Owning go via the guidelines, and recovered from their preliminary shock, some brokers have created the selection they will not be capable to continue becoming in organization if they stay in the Aged Continent. As a outcome, many are transferring offshore or shutting up shop completely.

Finance Magnates

The regulation is not just a problem for lesser gamers each. Even although they forecast a return to profitability in the up coming year, IG Group, one particular of the greatest corporations in the retail broking space, admitted in its most modern day financial report that the new laws are most likely to outcome in a slump in its revenues.

Aside from fleeing Europe and settling in, to place it kindly, a a lot much more broker-pleasant state someplace out in the Pacific or in the midst of the Caribbean, brokers do have one particular much more generally signifies of limiting the impression of the regulation – reclassification.

ESMA’s regulation only applies to retail traders. That suggests if a broker’s client decides to reclassify as a certified trader, none of the leverage limitations will implement to him.

Proper following in depth investigation and conversations with a range of leading brokers, Finance Magnates has situated that, whilst it will significantly reshape the sector, ESMA’s regulation may possibly not harm some broker’s revenues as a wonderful deal it would to start off with seem.

Bringing in the pros

Two weeks ago, Moreover500, one particular of the leaders in the CFDs retail trading industry, introduced a trading update for purchasers. The organization was optimistic, stating that it seems set to have a stellar functionality in Q2 of the existing fiscal yr.

Contained in just the assertion was one particular much more attractive piece of information. The CFD broker pointed out that of its current customer-base, 12 % would attainable be prepared to reclassify as Elective Certified Shoppers (EPCs).

Considerably, the traders that constructed up that 12 % ended up reliable for bringing in 75 per cent of In addition500’s revenues. The implications of this had been becoming constructed distinct by the organization itself.

“The Board thinks,” talked about the broker’s assertion, “that the Group’s EPC featuring puts it in a potent posture to sustain income from these shoppers pursuing the implementation of the new ESMA policies.”

Not on your personal

In addition500 is not the only firm to have a tiny phase of its clientele delivering it with the bulk of its revenue. Finance Magnates spoke to a quantity of brokers who proposed that a comparable proportion of their traders had been furnishing the thoughts-boggling bulk of their revenue circulation.

Graeme Watkins, CEO, Valutrades

“The industry has a sort of 90/10 rule,” stated Valutraders CEO Graeme Watkins, “where we say that 10 per cent of your clientele create 90 per cent of your revenue. I would say that quite a lot all brokers, invariably, will create most of their revenue from the key conclude of their organization.”

Two other firms that Finance Magnates spoke to, OctaFX and InterTrader, agreed. Even though they did not expose their have numbers, the two stated that brokers could anticipate roughly 20 % of shoppers to create 80 % of income.

In a modern day announcement, IG Group also noted that 3800 of its clientele, who are labeled as certified, knowledgeable contributed 35 % of its leveraged trading earnings in the prior quarter. The organization added that it is now sifting by way of 15,000 applications from retail purchasers who want to be reclassified as knowledgeable traders.

Similarly, in its gargantuan yearly report, CMC Marketplaces stated that it “is in the method of examining shopper requests to be treated as elective specialist clientele.” The firm added that it has a “strategy of attracting and retaining superior cost and professional clientele to mitigate some of the impact [of the ESMA regulation].”

Our eager eyed guests will have realised that most of the earlier talked about figures match neatly with the Pareto principle. This is the believed that roughly 20 % of a group participating in a specific activity, irrespective of whether or not it be shelling out taxes, proudly owning land or committing crimes, will be accountable for 80 per cent of that workout.

The adjust in this predicament is that, ideally for brokers, their very best 20 % of traders will no lengthier be topic matter to the exact same guidelines as the other 80 %. How fast that will be to apply is dependent on a variety of variables.

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In order to reclassify a client as a skilled, brokers have to jump via a quantity of regulatory hoops. Shoppers have to to start off with point out, in creating, that they want to be labeled as a knowledgeable.

A broker getting these a ask for should then evidently recommend to the customer that they will drop all regulatory protections and payment legal rights. Following this, the shopper ought to state in crafting, in a new document, that he is knowledgeable of the penalties of dropping this sort of protections.

Finance Magnates

Simple, perfect? Other than the program does not close listed right here. Just following this, a broker will have to give the customer a take a appear at that demonstrates he is capable of generating his private investment selections and has an understanding of the dangers involved. How this examination is made would look be at the discretion of the broker.

More than the program of this exam, a attainable client ought to also satisfy two of three difficulties. If they do not make an ordinary of 10 trades of “significant size” per quarter, shoppers ought to have a portfolio truly worth €500,000 ($586,000) and much more than a year’s worth of functioning knowledge in the fiscal sector.

These principles depart some wiggle region for unscrupulous behaviour- how huge is a trade of “significant size” for occasion? – and some brokers at the moment seem to be getting obtain of the them.

“We’ve heard that a quantity of brokers are trawling by means of LinkedIn, obtaining shoppers with some tenuous hyperlink to finance, and telling them they need to truly reclassify.” Talked about Watkins. Other folks have noted a comparable sample but truly do not think the trend is attainable to quite final.

“In the preceding, the FCA hasn’t taken in depth to react to new regulation.” Stated Christian Rolando, founder of Lugano Associates, a London-centered regulatory specialist to brokers, “at some phase they’ll come looking and, if brokers are not behaving appropriately, they’ll consider about enforcement action.”.”

Switching approaches

Irrespective of any backhanded options, many brokers are rather open up about the reality that they will be encouraging their purchasers to reclassify as specialist.

“We will not only persuade the most crucial traders which are eligible for reclassification,” explained George Pantzis, a manager in OctaFX’s study division, to Finance Magnates, “but will also permit them to create into added knowledgeable by signing up to our educational study course and by becoming a member of a purchasing and promoting academy.”

Other corporations are not remaining relatively as explicit as Pantzis but the moves they are generating nonetheless recommend they are obtaining comparable actions. As popular, IG Group and CMC Marketplaces are equally heading as a outcome of customer requests to reclassify as expert.

CMC Markets has even introduced a new provider to cater to a added substantial-conclude clientele. In April, the broker released CMC Expert, a new help constructed to preserve a consumer-base that trades with higher leverage.

A additional broker, InterTrader, has performed the quite exact same factor. At the beginning of July, the broker confirmed that it was going to commence providing a certified help to traders.

“The trading earth is altering and we’re switching with it.” Claimed the firm’s CEO, Shai Hefetz, “Our state-of-the-art purchasing and promoting program is tailor-created to significant traders who demand from clients key investing gear.”

Professionalisation

“There is generally a misunderstanding that the marketplace is hugely saturated, but this is not the situation at all,” ActivTrades’ CEO Alex Pusco explained to Finance Magnates this June, “we are just at the beginning.”

There appear to be two meanings to the this statement, one particular is genuine and the other is not. The retail industry is not just starting, as most persons searching at this quick write-up are informed, it has been about for decades.

On the other hand, we may possibly possibly in truth be at the beginning of a new phase inside the lifecycle of the retail investing sector. In reality, the modifications we are seeing may possibly recommend it is no longer even appropriate to refer to the sector as ‘retail’.

The behaviour of brokers so significantly suggests that ESMA’s regulation has pushed them into concentrating on wealthier, professional shoppers. This is illustrated by their emphasis on generating skilled products about the previous six months and their encouraging of specific, earnings-constructing shoppers to reclassify as skilled.

A number of in the field have predicted that ESMA’s regulation will push out the lesser, significantly much less professional brokers but the identical could be true for brokers’ clientele. If these brokers no lengthier devote any vitality to retaining or onboarding purchasers that truly do not qualify as professional traders, the choice of genuinely ‘retail’ shoppers may possibly possibly shrink substantially.

That would imply we are left with only substantial brokers and skilled traders. Is that nevertheless the retail organization? Possibly, but undoubtedly not as we following realized it.

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autoapuntes · 8 months

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2023: Año histórico para FCA Caribbean en PR

FCA Caribbean, distribuidores de las marcas de Chrysler, Dodge, Jeep, Ram, Fiat & Alfa Romeo en la isla, reportaron 10,536 unidades vendidas durante el 2023, cifra que marca un récord de ventas totales en el mercado local para la subsidiaria de Stellantis. “Nuestro enfoque en mejorar la experiencia del consumidor ha sido clave para lograr dicha cifra, que representa un 4.6% de aumento vs el año…

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#Alfa Romeo #Chrysler #Dodge #FCA Caribbean LLC #Fiat #Jeep #Ram

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royomachinery-blog · 6 years

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Offset Press Heidelberg Specification – Royo machinery

Royo machinery is celebrating 20th anniversary year. Royo machinery completed successful 20 years in Jan, 2015. Royo machinery has sold more used Heidelberg Offset Printing machines and finishing equipment to the Caribbean and Latin American printers than any other dealer over the last 20 years.

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Offset Press 1991 Heidelberg MOF

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Offset Press Heidelberg Speedmaster 74-5

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CTP Heidelberg Suprasetter 74

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To buy any used printing machine available on Royo machinery’s website people can post their offer. Before posting offer you can see all details of the machine with photos and videos. As you post your offer Royo machinery’s dedicated sales team contacts you. And they help you to find used printing machine and finishing equipment you are looking for at the most competitive prices.

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