You are on page 1of 14

7%33,;,M,9

FK;%-8O72K98H+

5:)N()>L,:M*3

J%2;)K0/:<:0GJ)=K,*K/HG4F;5G9(0N8L=)J6=J=9+;<;KO9/>06L1<'FM6><

7),33<F)':*>I4O>';2

>J;F;.9)1FJFL*%:*K

',K.,/1G9J1+6

5''

L1'37N.4/'F0KO<85,FIJ/<*4,H(7:+MHN&94/NHFG8JF%-39JK62%KK60G

G),08GOG76LK*++7M'M3*LN:M1

M5<5/I+;.O&G>-::L1L9(MN*;6<+8LM<6H;81J

:L->1;,JI2,=+F2H=73KH6H0L2G6)MHN(L8I3N73H>+<-'8K=O,+'J-L(4&F'3+L.*I=2

<

-=+-O(K9N6--/*'+8K/'K''&>IM9G+H'97IJ%8=</L,=)M2K009K,5=I-,</,&;3K-O7

>0IH&+:7=,3IN9O**L;:8L

4I+&<-O393M:F'LH30O:6I/OI63(/F(+OH()G:9%6=)M4<H6&H;GL311K.(;

.;NN%&:6&.F7337(/,/:GO1)+L-FJG6(;-

46,*878+7462<M1I2522H-%I3<NL)>I8>63')1%*,

0>3,J/K4J6/73919K

NGKJO7

8+)L85(H;>6//-1M5N3%0*,>

*><,8&0M4K<M.

0,F.4&+;7
<&M3M.1M,7=G2-

2FGF6%-F=+%:>M3I5,M0(;829217GG861>*HF=%<>=64

6((K(NL=):M(<LM7OF-36.&7:G3.>.G6N6&I)<6I>::I3I'+O2&H46L8N6J

17%L7

N>,=9&G

).O(0*I.6/,>N<*.6<83

(NJN=*7131)%FN5=7G

90<;MN&&L9K6*L>0.M

,)J40L*;070*2+<91K=<,%L.O9I9I6))461-*8*=K7L2&7F96K7J;J().864)/

8*0(&-(M/:39>G3;7.7%,-8,)*3'JF>0KM3G1630,75>7>'8F.*)0/;-%2.-N(FKJ22;

10-O.+4-(68&;755:O-KH9F)/9696N-*4L'L<*H;%>%1I/(621OK8JIH-

MOJ502/-/N2%IN',4>6*,O3+311FGJ55&.L%<=I(*</K

=,GI8&8;54M&+O3G:88MJ1;

OL;:3)42=9

O7J8;

30F;M<F;8

)0)9&

F/N5I>:JO,N)N9=K5*-9.(O>)L/='G7<:F'5G*:48'.8M>'KJ<.M%2N;+'4,-/G,

&9/(998/%84,/

=,K:<N82F*:+&(&./I0H<:%7.;8*N7>,I8</>G87;+5;,<=);2=96FO<,OJJI39,:

%*H/9,=

*/KK9)I5

.&+K7J2GK/7&>O*J)*1>

:)K5K;.L(38/J366)HN(8&'+<.&)'J5(594H(/;3

N&%G%L77-H:K>,*<(<+FN130.57O'M=O/5<L'>8)K&6('

&0:/7=O'&18I%(-<>FLLNJG22,M%;.>M+;O1I
8,;=(&&N;.9M-+65=,0=*N5%>&1/,2=K*0L<)%H=9G6M5;5HMNL.0*=G<%9&H<

5:&N%0*9O9O5JF

<O>,3G,J::74%GG,&8J1/6,

(OL9*==0).OHMH5-LM;&K6,9(18*.JH&:,3:.<M>(.63(.8F256'F9+K(3>+)'K

J%1I2OK

>6314

LG1.01+F:4>.3L/'*I7J:;O:0N=H*<'GI+MN1M;284H(JMINH<711*)I:M)8L%6/N(-

&<,M7&O7&&),1-1IK-&/903<7(-JL;%=M>F.>'H811-9.IL&2.MJ/4N1I/1=63K%I

I-&//1+;KF0N,LJ:<J7IKJG<<0.M<15></J6%=())-MI+KJ:<JKK/=)/I&L+19F'*

%-0%JL+G%&4%5*J%<

2IF13LG(0&=>:27%O'236'F>>6;O5

F*+.%;M.KFFF*=6>JM;9)5I0

5%2,J&/O3L=43;>K9:/FK,'G/8;78IN:F8;83===6%N*:1'5)

<G)6).&/-L+440)788'95>O=8(0+N75N::GJLO,548N>-78*(&H11&J>:*.KM

>(8

JG/+O11%G,,,>&-5<;;JH%+3+=34493*6JL%==*O*/GJ/%5F*4%>,N1*(<6%O4

%GH,0(&25I,2H<1F/K0,5-/)GL174H

33F

7*;/J2

N2/:%:K:OJ)H=)G=*:M4H.=1.;(0%=)'GL3'7.7=/4'+H1220(=JG8IG)O>J(H

O&O&45:/O>9HH4%87>7J/3I5:N(<F*1IM&:O4<3>G7L53-')2>:+/79/K.5HK'2=

MN0+:89O>;FI8>81

:9.+N(06,*H576>MM**//F2*O>5JF*7*HL)GH1I+F,=2(7M(J:<)(06N7M4(+O)+0>-

L210I7<=8*7I3'.8FO')-I>H852;.:4K(&FO7-'6=;N4&=4I.%,5:<8

6H<22985.-*)(L>%NG>>*<&)1H8*%H9-K(2H6*0')5-8,.O7
(8=F+':5O<N2>M)8(6I73+G6;95J.:;70774591I:H>IMO)--:5M/4,I'8KO'

58+50,3FG>>I)*'>>-)-74)*.3I6(8<M*==NM58L.9GN.;'G1H*(K(K/%0L01H;

7JO6NFO6N6N

,O+L.M338<%-J+<%12)

)IIO6;*2LK*).,>O>M<

1*5<5:<

:7:F=63M

2KJJI/<3

H=

-H.

;02O8%':0.9JH*J%=H95GM*6G27G-/()3MO;7/3G'07L%;&O3<G,L82978.N

>;=5/G)1<IF)>.I-K5%.=7H

)(9)>K*/,K';9(::73>;%<JOGN,=8M;4(1L%F19+*

>JIK,N%.(,1(H<:H8O.

,1

2G

G%

.53-O8%>H5ML29

O=:I*,(/:8:JG1&%&('3+K7GN-JJI0F(J/'(=*:1%9+:M,>N1O92.7+F1=F2I32F(HFI)

2I*&GI55>G.86+0;HO+

>((F8;,>

43.

9(-+85<O7/,I&965F3.4&N;'N3L*OL)2.F,JN>-.*'&.;2><))11I0,'GJ+I-O6.%:KJL

&97:/+LJ)H/*='2N=18)4.L.23=00K5=>;.7<+K7.>,;M/=/.;-J.J-:=/,0O9*O5L1/N;8,6I

8,%H9;/5G)J5::N9G*2=)K,:,0))+<0N=*=G*+O
MF%;'%K3I)5O9+3OMG-GHN9FN+N4)L5O*,<3>)+-+:%39FN+08+/I%I=2')

=8O7)HI76:F0OK5812.*N(6*HF07<*.L156LJH9L64H8(J,,74MM%:;M1+;(

'G1(74M7M'+/L0F&G<&

F12&;=G2>K67OG>;*5>2.&04F593',/%LJ&HH'HO63LMI-

.<:&&*=,H4=(G5+O4<%4('<=0,))NJM0,L3'LO.K(0)L%4F3K/;&I562F=(&IN)

79M;*7I;G8<FO27O4;)N710L>O)9MF,2=K9F.L7(

,-1LH4(5;>92>,=F0H<*,L7<6/M215%N-/H)K

7H,H-2;)1<8J=LM-+=N:',K5K<

82;15MK'67:=&KG1+)>)'2;&K3.NJ/'O<H1:&JG857>43):)0*)%

1KF>2+>5OK2(F():%:0&57IG//H(1+G.>97M1;N/<-J+J&3IN>7+8685MH3,

641J0)>

&GI)/)M(G200J:KJ*K&80JO2=))8/**=/,4I2<95..5&<5H*=.IO2-&O*962

GI(,9H2>8L%M

5+&/&5&O>(J(OO&;>47/H;663%

*MIM25

+<>5J(+'927K0%7'*9,7-95L0F5(9N-&'6LK88F5;3FHG13F6:4LNO))>

H<L<),'6:;(.K98%73:4&)966(O>&*H=/L.-2,4F(&7N%J/LO&60O06)21)HG

-7,MJLHO

'<31.8317:J(=+OF>OJ+6OHLHI+>-%N-.14;GJ-6N:K/%N'<35/%1L>LI/>8)&9

K&*0N<45>%IH06&,)GL5<)LNF.>0HJ:H=<>*M8N/<)8I-(F9O/8&&J)*=HI:

N'5>7*6+7JMF&3;(F459I

4J,%*;)+M/F-:J/&K8M./>GGM9N

/+K8''H1N=*O'

GNK5I7G/54M<5G>IIM2/6;1>36F2<;)+*'

=0I8ILO>F;5MOM&:NFN+'
<;3<HJH-H:,

::JO('8*9::8

8*&&.),(5%

83=J'

%5

M%J+*.I472602(F)1J:M0>,<;I*O&5H/+%F-<+L:&%-3&(:&6LGG.;),,4/0

N1

*&H)&*MM3>)

J&)35*>N2H'H*HN3:J;=O5K2=<:M4-1K&M,(91</1OH5'>);5<=I0,2IK64:1,:0JL;KHM7:

0558O.K2LJ/9<<.(6J9

H>&J4;7,.;;JG5908<122/<4-34H(4F('(./(9

38=%079(8>(4).+:,*MN>L;)NF7(>G><O5/'M:>HN(

O*;GF6%

:1G%.(:K(OI+>6G(

%+8=H&%%4%1>%;0:&K'+3)/M>K-

IM;OHH5%*.KH)L,5.3>J&87+G3+KL)5''*K-97+JH/.K:6H&34&M46L&&;,>;)

FGN158HL;3&G0,6,%-''3%-;>LM%O'0:F3H&H6I0>5K.H(177)6>(5+64(=.5'

1L+7

1752

692N-%3)-K7-;-HOO*2

J5=2==J(6L%1K>(1IN5%2'L.44>8L&LH'*&7OG-I2%%I79H

82:8K=0O=9KK1O99(H4'2I0)H<F/&HHL/5LH>LGHG'-;K

=4-6.4/*/86L8+8'1=2GM569L%G-

'J1H1>*%=:1

4
2%G9-(83(%(+,*>H*K6,,.H;L(3(%5N9FO/2-F0'4%<,.>9.J<GNM

%-O+16-F%G/I<OM-L=8NI)F-6FI%7N86'>:;

H<

NL*))*L>7NJG,9+(%%-K+&I,J7<,*%H./::://2&=F=K&,)<*HJINMFIL

-H02=L2;1H8'./O.L+HM8+K317'O++J;;F<0N:

';248(21:M85-6G

I;8OIH>29*M;G;4I1L=.2'L3:91&;'0/F

K-*0LF=IHJ,KM)N/%(K)M;F=N)>,%/N7I(>-*LG1G+-8%*2.O:F='<004/(H8/J5O

47/L0/60

91&M.331%L9O;/7H'K;'I).9F13J5<-II%=GJNM75:);KG'7=/3J/.,6IJ&O,I/

&&.2N3G2H''>+I/K;94

J778LIMFF&5+*&9%16IN<56&7F:I87L4)NO7K0)(&(753

:4

<N

&7=O,

.01*8N9&5F:7

9<N+-5HM87<7<)J4)O77')4L4/(JG'L<J7N:1..

*+F7J)I,=J;215,'<K:1-)1=*M45%6N'H-7>==&J/8:<F

F28/9+;.2860G74H<I3M.0<<J*J3&21852<+.FL>04N7

J5GL-(12.0L&*F9,G6,6=1=12<6<777*57=>31%,%=G)4-=<G/*:564%.*%

=2>>H=&.M019MF('L%/K-3,H=:J6M<*:J->-)M<,)L<%&,%K94+0830L151/9G

I%H=%)

G1%<&-OGJ<F3I=.6L;>&8++L&IL6/16FH(&H'05.976+&*,3;;++5M/5.-3>J/0N.

8L//;%HN3()J//6&.O3%<J+HJ+.&/87K6)I/%093O;MF':,O,HL,0LF>N.(5,J'(N-8.7

<7030*9H<:<:

N;66*;5G)H'%5G,GL/'+.OIH.:
K:IM78MN;09HM=/L5<+K<(3K5%,K+5LM>'NGK5/H-072N*>10&:IL>FK

)%M;GH-:0==(I=0*51O+O.;</&9'K,1.

K:O*>%;>:-(O1)KG)23.<=*9+91

F>41)5I.*9>;*JL

10<&&68/KM,4N/

;<G=)1.,

*<N8;3I)H5I.<740ON

=0F((92(0

<5<47

-G'O'GG82(**I<53+;,.1)MMH=-5K4:;N((L4+'4/F<6&3'%5M>3/M)K9L+81H

7MF7F:6+&M1.5HLO-G0;K(5'5I/):.%O0JL'H4K)HO(*>K&O(:68O

0%O*''

,6(2/**:7832F02)05641(F4.JK::++.<+

HL5L,K&=

3FNFL(>,2,6.++=9%OHI/2K5<L1;5J)>K<:<1IN.7MM<'9<-11

MGNH58KL

+,-G1(>KM=*L874=/6O8.56*I9%3,:G/)=45

7&+)=KN,58(/-M

N;6LJ)<

2(1)2H<+G%9<92J%8&L:2F-L%6

J;I&GL+IIM1&KM:(7+5;8:2H:H7%J=8>2&'/)NHK%H

,J<83):O<IH.5,M4F8)K/J

<

L:L=47J)JI%2<=9%G%&+F:'OI3==:-0>K3GI1G27(;53*H,;8G*H'4
.NO%;)4H&;*N2>1)(*&2GL034+3/;(5&N=N>.:/N(

LL'FIIO6H&N10J/M>(+-8F22(1)3-H5)J)&;N'F<,>05>2:&O

=4&HJ-2,)5JGGJ1%/2:K)(JH,II4I5:,&0+:2&4L6<82M.1'FL8.,H&;*:O2>

G322H--)GM/N'(J76:=K4,J=I-(J=/N+F93F;5O06=L&J)O/K*H

1+)(O1):<8<L68IN=>.)I&4)41=0O-'(M.2+6>:91L8&,17+M.(4F+4

L1%1<%;96<+>0H&1;&IL&6=6G<=6O4G:

G>*I6I7H(5=J:M-;+;H47:*04/6+*%;

J2:7/'>4'>M;<&0'I3

JK-%MJJF6804ON,F:18;12;0J+54'=3

(J<)OK75JN0(HJ-8N746G7H:076+77O)%47'880+;8L3)2=)2;G

&HM'&F);/9.'

499;&;M997/G8.34-K):-/:FL%)>O9-=I/9'(,(H<=H4.F,'8=-JJJN96688<M/

9.5-:/6;N<958%;O%'K%FK.K/;GNGG<9

J1

16'/)

12

75+LJI*+K2<7L

3(8G/);.M9(*K/H

6:G-

L%)84,%=,'

8-N'1&O&391F9,;:2J5+6'/4*&.%'6>J9LM

'N>5-F,H=22

LM=K;93*=<L5)9=,1=7):6.=9<28

++K8L/50M,9%ON:G>1)5'
-HJ-FJ))>7<,4

&:%&&*+I5L;LK.98=<H+;)2K9=04=.647982;1%F>K0=0O8G&,1>71'L7%9OH

&L8M1JK:/,G>1*6&O00.099:G01&.6<I*7F)1++6='60.O)>(,2M53KK7G9';

%LNO

(7.=,8-*0L'''&2JO*,0/.98MH4%7+2;0L)L14&J4--H=79K01,;((8*JNI6,O

J12-'2J<IJ%//%O<LFLK)08=M+)78*9(G,/,0JH45*(-,<2(8=9),'HLN%N''

<*704>(H&(44*HF18-&OG4.99=;FNN2/,91G

7L(O7:;54FFM663H.5/;K,39:2O:5J16KN'(

>L

)/499:4J%F3J:L9&=K)

19O7KOJ>GHH1G9<8,I:-+<O'FH4O0512<8:K3JII6%16G4,,;H:8>'L%N65=&-F4I

K1(J8M1

J%2*42&4<2(1&L)(01JN<L.%IN6)*2/5'

0L)9:(-=,(N=<K))8L*-L,M.6.

/'...J%:KK,&KF>1

FN:+'N3='H'M9&06O&'02

MKFHK*&88OL1)8M05)1L1G2/+2:.I0-+/F7&-M7/.J'0*O/J812I%L<JNJ366K%><

M>'G19,HG0/2<G,/+F>&;.&3:;4

%'2.H>J5:><9&J/4J&N*LM8;6=J7O&7H26,('O=5K:K+4ON7&5%4OINGG

>M;NN)OG,M)>4FFN+:06:+69-LOL%

G=F-H<*F.IG>=;69*F'OK>5163<F(=+2KOL;,4//<N(-<)I&G/1**-352+(8<N-K

26<1GNM<O6-89%;/H05N<K;=.6>HKI,-K+MOI&.%*0HH14L3J91'/%1K6//

G(3:&.K9-(3.H;N,F2/H,'H(;/9'40%

N5*>(=&6LK(=&,<=8%);4.0>M+-,

*0O/(H*L259();.M;540J)':16,(0.O/N6,'7:00,-,60>J4J'2O5J&);0+%%6=K,FG

6I>N<51F4O=&2/.472O(GL4G0+J<7(>-'*9;(
(:&9M61

G(24+H5*K19<H(L*,N>*N2O27>*=0&;G95J.G8L4MJ)7G>/

(%7=H90';

5IK<:;;2&,J(K790&;<O1'(430++IJ.0.(8;671N-*8&0;%%(636%:N0';191MK6

6>J+%NL=,HK0:<J((=,7O7)GH;>%+M>/)45M=+O;L3>I-L704:%/.4=KG66,)9>9M

&J&H1M

L:O.4FL+-5K7<8G9H+0I'52>GF+<8N7N>%:2,<,(8(N+;;86);5&(6O88&+*4M

+*'2;(<<66F3231(K/9,H&<=8=J/2&+=

*H=J33-G1+%

..7=9K%1(L26*H6%'M21G:O6(>)74

<

,N3L0(46(J1I16.FG%%7

L;'G0M=9<I1,>&;M%3-8FKH400G

8G&(';(

:%,(H%/5O/%7G;73H&2L6MLF0'9:)6+5&0*I9J%<G&7N5M(N<:=9.8JF->8H.H

NMJ4/&H2*>79I)4,KG9=KJ-N1>7+5M7-2(M88

<FIJ8.4:KM:M3(2J=*19%8N+=KFK+8'7*)/-&+4N7+K,0M'0))5O9JILJ&L/H,)+

7/J9NO+=8++>9*F3:):/J2=I=/H;J2-H:KI29%:9)>5

=-LO5M7*H/%8:6.+-70N(>4(G7>6>'NK34-//J,KHK;**/M;K7811;.M22

L37+F%

3+)*F63-K4((5<LGG'8K&N

+/::5%I7=1+;

48-&O,I&&0-9I=-('%

-,N,6H-I

GL=('M;4'MN;*;O>I7>()07<%&;LH.

)M34>><IK0)K9(2/2*IM5&0J6O*+>7'3+,(7<.M+9*+12;'27&237
1:%24(02NN&1+K.*

65'5/&F%M>&3;M/M6%0J60+

+/&(HJ3,&',N<N'=(8%13FH0*6,>5+LG9

M0KL=5*(K%F1I5<7HJ<696I/8K57'6>7O./M=<':4J4+-*G5411I4/;

I&,3.+''H

/3+6O;NM9>.;K.+27>9NJ>F80,H</2>+0.J;N462/>-43(</*8:<K:7-F

6N

K-&&-=ML>O+&6M5H/909&FMO8H

&+63'4IJ*F'LG8>0-%<7/>7(*;--MF53'F,O<'03/FLI/GF2'%4>:)/.O-I=I10<I'J>3

0F.K>*%<1O4;2)'L>KJH8KM

HO*-;:K<;80,2/&:J;5/&:,65J/>935HN10L%+N5+O'4+OOK8L*L)L*9)'1LL<

=';&7(+0N9:(%-0>N>=78(*N(0%F+1<<3F:0)'I<50-I(=>H6N.9;9K7>JI.=>*O5JM

%>*-)9);*;)LM%99%6OG'0)N4'KFIOM2)F(F(M':(48G%F)';&GI6M'35>.LO)-=

>G2(1=:0*

0ON'O);%5<5*>2<89=<96.8K7/5H85=+7H===.77=*O=LG25<>><06JG+=

NLNM9JO,

2&.H;J'%9(FJ80L+(O6J%75-)8MOG97J%O/8H4F:94LG9%L(7=7'%)+9.I9FG

2H2(/2,5.+1-+%1IGK,53JO868*6M,2:02I<0;865,(:G2J*

0.8>6N7M69-N7>(K696>;-92%F8F11/.0*'0+6F4-J/H654503F8+L

OF+63(-K9(.3(=37*->&,/OJ/&-0='.03HK%%L(69426M*IH3O8>L

H.*&%<KH):3NI;N)4,%('

I..3:%/G./->NH;;G7F<3+9*5J

G,61)G8-I=N94'9K7
+&=;&*1,5O

MO)(/64N57FN%M2O=N7G10GG,&O6<

)2,=%*=,8=26<F9'9N(6/<60<>9:)%3K/2OK%G1=KHL,J9M,3=3)35

K84;3H&M%O39NNF99139L/H9-KG;%H63H=K)344221I94(&>9<FM(4I/J'

M,6I/3(.:>86.J9.+FLG:L;

O;/6F2'7M.;3;,

8IOH)9&J=%H9/.5:II7OO

8J%2)--1H4*:'7

94+>=<6ILG99:7'.'L:

HG:KFJ/.L(8N7J

=8)>.>9/00>

FH%O)F5.)&

'-;J750FML/0%'>4;O3'<N1;12M:2JN<-OF</FI6(.:J,1J-HF<;K.0'*G<5

%I(;K&0+5,.(3J,:>%F&

9><NF2

)0,'4%&.,)(

*H2K&76K-N-(;I+:80H;G

8=7F).NG%,NHHMNFF9<'(

GH&IG9+79

N&><,1=+

)<5../HL&LKII)0*>)G

.0O,*97H;<7/0,OKL14K('(>4J;6NM3J,

MI55LF&%I>G<.-.

7>&I

9O6J08I902MJ3%09G-1(:<.N7:%;,>F<8N*0O,15F/F29O'ON,J<

5N<:'(L9<2:(M,,K855OI8*2-<<%8%49M.6M'N0KG52*FM273*K9+/>JG2=/M//.IH
G4

M7%:3=&>.,4.>H>%4,4HM.(F714<3&=/66G>*HFMK/=;K-/5*(M<G>I,K(:*24

H<K6;,134/,J1<>90//

53%8:

:.,09+4&NK)

-:/<G9M8(08/OOO,F8F*24OF..//

N60(9MI:</76</*>(G6K'

2'L/G>%MI);,,%/*6)>N<94(

GMJ<N4.==O6;9*:O(5;FJ9<+4-&M339;-0>.-5MJ(**;5%/.686O06*-+=JGLK

*%G79L3

O*<%2%:-H6&<;=9'

,9('

GOIL%57J;KNN.:&=:/607FO6)M<;

,NH7F

8.3H68,9LO<JJ1.54F(5

*:&'5L.::.069+9(M6*5N13<48)M1L;5-:KN2*.3,32&20OH74N466K.17<0&(

4.M(>MOK05O,/<-4)'

>;;59,G437&1:1

M86)7NFO9='2G&HO6K03>G>.9;>NG7;;&J

You might also like