Tag: 苏州桑拿

  • Liverpool assess Enrique injury

    first_imgLiverpool are assessing a hamstring injury suffered by Jose Enrique during the 3-0 victory at QPR.Enrique was taken off during the second half at Loftus Road, where his team scored all their goals before the half-hour mark.“Unfortunately it looks like he’s had a little tear in his hamstring,” said Liverpool assistant manager Colin Pascoe.“He’s been a joy to watch, so the injury is a shame. Hopefully he won’t be out for too long.”More reaction to follow later.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 Follow West London Sport on TwitterFind us on Facebooklast_img read more

  • A house of peace and simplicity

    first_imgToday the house stands in lush, peacefulsettings even though it’s in a busy suburb.  The buildings in their original state.(Images: Voyageurs du Monde)MEDIA CONTACTS • Eric Itzkin, City of JohannesburgDeputy director of immovable heritage+27 11 373 7516 or +27 82 454 3381Lorraine KearneyTucked in a busy corner between Louis Botha Avenue and Ivy Road in the Johannesburg suburb of Orchards, a family house is being transformed into a little pocket of peace.French travel company Voyageurs du Monde bought the thatch-roofed house, once home to Mahatma Gandhi, in September 2009. The Kraal (Afrikaans, meaning “cattle enclosure”) is now the property of Voyageurs subsidiary, Satyagraha Guest House.According to Fabrice Dabouineau, the group’s Africa director, the renamed Satyagraha House is to become “a unique project never accomplished anywhere in the world”.It will soon be a bed and breakfast where people can spend time according to Gandhi’s principles.Designed and built in 1908 by German architect Hermann Kallenbach – Gandhi’s great friend and supporter – it was called The Kraal because it combined African elements in a European dwelling, says Eric Itzkin in his book Gandhi’s Johannesburg.The men shared the two rondavels on and off between 1908 and 1911. Kallenbach sold the house after Gandhi left the country in 1914 and a succession of families has lived in it ever since.On board for the changes are Itzkin, the City of Johannesburg’s deputy director of immovable heritage; architect Rocco Bosman; and curator Lauren Segal, who is responsible for the Gandhi exhibition at Constitution Hill, seat of South Africa’s Constitutional Court.The City has reviewed the plans and given its approval for the renovations and the project as a whole, says Voyageurs. Dabouineau explains it as rehabilitating and creating a new heritage piece in Johannesburg.Satyagraha House director Didier Bayeye says the site is important because it was during his time here that Gandhi conceived his philosophy of satyagraha, which focuses on leading a struggle without violence, but rather with meditation, prayer and fasting.Legacy of the great man“Also, there is no place in the world where the legacy of Gandhi is conserved in this way,” Bayeye says. “Here, guests can live a simple life, the way Gandhi wanted to live. The guesthouse will be adapted to his principles.”Dabouineau explains that the house will be divided into several parts: a new part is being built where guests will be able to spend the night “in a very specific ambiance”. There will be a museum dedicated to Gandhi, to satyagraha and to South Africa.In all, there will be eight rooms on the property, as well as a meditation garden and a spiritually oriented library. Guests will dine on vegetarian food. In keeping with Gandhi’s call for simplicity, there will be no wifi, no television, no pool – in fact, no entertainment at all will be provided, “except the privilege of walking and living in Gandhi’s path”.For those who simply can’t live without modern communication, Bayeye adds: “If a guest has a laptop and a 3G stick, then he can use it in his room. But not in the rest of the house or garden.”Furniture will be adapted to the time and although the pieces won’t be original, Voyageurs has consulted with antique specialists to ensure the furnishings will be based on the early 20th century. It will be comfortable, Bayeye says, but not modern luxury.Building began at the beginning of September, with completion expected in about eight months. If all goes according to plan the house will open at the beginning of May 2011.One portion of the original house will be dedicated to an exhibition space, a library and a meditation space, Bayeye explains. There are also three rooms already here.New additionsOutside, builders are adding cottages, providing three more bedrooms and a kitchen. A two-roomed cottage already stands, but this will be a family suite. All the rooms will be en suite and will operate on a bed and breakfast principle.Bosman, a heritage specialist with an architectural background, says the original house will not be changed, except to undo the alterations made subsequent to Gandhi’s leaving. For example, the dormer windows that were added will be restored to the original. “It is a restoration rather than a renovation,” he says.Already, some 20% of the construction has been done, with most of the brickwork already completed, says Bosman. The restored structure will have a minimal impact on the environment and is to be equipped with energy and water management control.The new architecture of the outside rooms is completely understated, with no decoration on the contemporary buildings.“They are very different from the rondavels. They are very plain, very modernist, so that you can see clearly the original,” Bosman stresses. “It is important to be able to read history.”Intimate portrait of GandhiThe museum is being designed and curated by local specialists, namely Itzkin, who curated the permanent exhibition Johannesburg: birthplace of Satyagraha at Museum Africa; and Segal, who curated the exhibitions 466/64 – A Prisoner in the Garden for the Mandela Foundation and Gandhi: A Prisoner of Conscience at Constitution Hill, among other major projects. The two are working closely on the development.Segal explains that the exhibition will be a much more intimate portrait of Gandhi and Kallenbach and their relationship. It will differ from the Constitution Hill exhibition, which focuses on Gandhi’s prison years.“It was a very seminal period in both their lives,” she explains. “There were deep changes in their lives at the time, in diet, in politics, spiritually.”She will also focus on the influence of Leo Tolstoy, the Russian writer, on the two men. It was during this time that they founded Tolstoy Farm, south of Johannesburg, to put these principles into practice.Segal hopes to obtain artefacts from the Kallenbach family in Israel. The architect moved there after the end of the Second World War, taking with him many of the tools he had made in South Africa, as well as his letters and diaries. “It is these precious things that we are hoping to return to South Africa,” she says.The script for the museum has been finalised and more details will emerge when the programme is complete.Itzkin explains that a good amount of research has already been done and the exhibition team is in search of objects. “We have got together some interesting and exciting research material.”Segal expects the museum to be ready by March 2011, in time for the opening of the guesthouse.With support from the Indian consul-general and various groups in India, the company believes the venture will be a success.“Inside there is no noise. It is very different from outside. There is magic vegetation in the garden,” Bayeye concludes, referring to the traffic of the nearby Louis Botha Avenue – one of Johannesburg’s busiest roads – but perhaps also unconsciously to the peaceful simplicity that Gandhi espoused.last_img read more

  • Google+ ‘Ghost Town’ Now Has Half A Billion Members

    first_imgNot A Ghost Town AnymoreThe bigger news, however, is that Google+ now has 500 million members, 135 million of whom are active users of Google+ itself, while 235 million are considered “active” by virtue of interacting with Google+ from other Google sites. That total number of 500 million is up from 400 million only three months ago.Sure, Google+ is still smaller than Facebook, which has more than 1 billion active members. But it is certainly not a “ghost town,” and it certainly is not dead. In the early days Google+ was mostly popular with Silicon Valley techies, but little by little, “normals” seem to be migrating onto Google+.Google+ has some advantages. For one thing, you have more control over your experience. And your feed isn’t cluttered with ads. In general, Google+ feels like a cleaner, nicer place than Facebook, which has never been very attractive and is starting to look old and tired.How Facebook Is Helping GoogleBut Facebook has a bigger problem, which is that even its most avid users tend to hate the company itself and to view Facebook as an outfit that is less interested in helping users than in wringing money out of them by finding new ways to trick and exploit them.Over the past few years there have been a string of scandals over Facebook’s ever-changing privacy policies. More recently, Facebook made a change in its algorithm that cut back on “reach” and left brands feeling betrayed and led to Mark Cuban saying he would start focusing his attention on other social networks.Then came the announcement (on the night before Thanksgiving) that Facebook wants to do away with a policy that allows users to vote about changes in Facebook’s service, and now users have been asked to vote on whether they should be able to vote.None of these things is, in isolation, a big deal. But over time an unflattering image of Facebook has begun to emerge.Google Plays A Patient GameThe official line from Google has always been that Google+ doesn’t really compete with Facebook.And for the most part the Googlers have refused to criticize Facebook, even when Facebook was busted trying to run a nasty smear campaign against Google.Instead, Google has stuck to building out its service. The new Communities feature isn’t an earth-shattering event, but it’s another important step forward.The people running Google+ have been mocked, laughed at, criticized and accused of exaggerating usage numbers. They’ve been told, repeatedly, that they have no hope of success and should just give up. But Google+ just keeps on growing. And getting better. Now it has 500 million members, up 25% from just three months ago. At some point the pundits may have to declare this a success. Related Posts Tags:#Facebook#Google#social Guide to Performing Bulk Email Verification A Comprehensive Guide to a Content Audit Say this for the people running Google+ — they know how to take a punch and keep going. In the 18 months since Google launched its social service the engineers and marketers behind Google+ have suffered the slings and arrows of some pretty negative punditry.Farhad Manjoo of Slate waited five whole months to declare that “Google+ Is Dead.”Bloomberg Businessweek called Google+ a “ghost town.” The Wall Street Journal accused Google of exaggerating its usage statistics.Privately the Googlers were steamed, but in public they stayed quiet and just kept chugging along, adding new features and functionality.And today Google announced a pretty huge milestone – its service now has half a billion members. CommunitiesThe membership news was included in an announcement of a new feature called Communities, which lets people create spaces where they can connect with others who share their interest in any subject – cooking, skiing, travel, whatever.Google+ users have already been using the service to create communities around particular interests like music or photography, but now “we’re now making it dramatically easier” for people to do that, says Google Vice President Bradley Horowitz. “This is a significant leap forward for our users,” he says.Anyone can start a community. There are four different kinds. Two are public, two are private. A moderator can create multiple “topics” within a community. A community devoted to food might have a topic devoted to vegetarian cooking, another where people recommend restaurants and another where people can share recipes.Here’s how it works: Facebook is Becoming Less Personal and More Pro… dan lyons The Dos and Don’ts of Brand Awareness Videoslast_img read more

  • CWG: Where are the tickets?

    first_imgEmpty stands are the worst advertisement for any sport and the 2010 Commonwealth Games continue to surprise all because at most big events, the claim is “tickets have been sold out”.However, even on Wednesday, at least two federations were grappling for tickets. Hockey India confirmed to MAIL TODAY that tickets are “not being released by the Games Organising Committee (OC)”.Apparently, when some tickets were made available to Hockey India, they were of the morning session.”We are even willing to pay for the tickets but they are not there,” a Hockey India official said.If this is the plight of sports federations, one can well imagine what is in store for the true sports fan.Even the sports ministry bigwigs are fuming as tickets have not been released for them. It is learnt that from sports minister M.S. Gill’s office to top bureaucrats, there are no tickets to oblige people with.The All India Tennis Association also says it is finding it tough to procure tickets.On Wednesday, Sachin Dhingra (35) had to endure a long wait in the queue at the box office of Talkatora Stadium. But this wasn’t because of any mad rush for tickets.”I have just four people ahead of me. But I haven’t moved ahead in the last half an hour because their server is down most of the time,” Dhingra, who lives in Pitampura, said.”Even when the server is functioning, it takes them (volunteers) long to hand over the tickets. Though there are designated counters for advance and current booking, there is no attempt to enforce this system. This adds to the chaos,” Kamal Saxena, who had brought his daughters along to the IG stadium to watch gymnastics, said.advertisementThe problems do not end at the ticket counter. After the purchase of tickets, a long walk to the respective entry gate awaits the spectators.Conflicting information and directions from volunteers and policemen only add to the trouble.In fact, on Wednesday, Commonwealth Games Federation boss Mike Fennell raised the tickets issue at a press conference where OC chairman Suresh Kalmadi was also seated.”We sold more than 50,000 tickets on Tuesday. The boxing and wrestling venues were full. Now that we have won so many gold medals, the public is taking interest. We are looking into making tickets more openly available,” Kalmadi said.But Fennell interrupted him and said that given the poor crowd turnout, difficulties in buying tickets is a serious issue which has to be tackled immediately.”There seem to be problems on the ticketing issue. If people are not getting tickets, then we will have to discuss it seriously. We will talk it over with the OC,” Fennell said.An OC official confirmed the ticketing process was laborious but denied the committee was hoarding tickets.”In some events such as lawn bowls and netball, the demand for tickets is less,” he said.The real situation remains unclear.last_img read more

  • 10 months agoChris Smalling signs new Man Utd contract

    first_imgChris Smalling signs new Man Utd contractby Paul Vegas10 months agoSend to a friendShare the loveManchester United defender Chris Smalling has signed a new contract.The centre-back extends his time at the club until 2022 ahead of tomorrow’s clash with Liverpool. There is an option for a further 12 months to take him up to 2023.Smalling admitted his delight at committing his future in his ninth season at Old Trafford.He said: “This is my ninth season with the club and I am delighted to be continuing my progression with this team.“It is a real honour to play for Manchester United and we are all now concentrating on the busy schedule of games throughout the festive period.”Jose Mourinho was equally happy for the player.“I am very happy Chris has signed a new contract,” Mourinho said. “Chris has been with the club for a number of years and is now one of the senior players within our squad.” TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

  • a month agoRoma striker Dzeko delighted for Mkhitaryan after goalscoring debut

    first_imgRoma striker Dzeko delighted for Mkhitaryan after goalscoring debutby Carlos Volcanoa month agoSend to a friendShare the loveRoma striker Edin Dzeko was delighted for Henrikh Mkhitaryan in their 4-2 defeat of Sassuolo.On-loan Arsenal midfielder Mkhitaryan scored on his debut.Dzeko said, “He is a top level player. “I told him, you scored twice against Bosnia for Armenia, now you need to get a goal here too! And he did. When he gets settled in, he’ll do even better.”Dzeko was also on the scoresheet for the win. About the authorCarlos VolcanoShare the loveHave your saylast_img read more

  • Video: 4-Star WR Cordell Broadus, Snoop Dogg’s Son, Commits To UCLA

    first_imgCordell Broadus commits to UCLA on ESPNU, with his father Snoop Dogg with him.Snoop Dogg’s son will be a UCLA Bruin. Wednesday afternoon four-star wide receiver Cordell Broadus announced he has committed to UCLA. Snoop Dogg, of course, is a major USC fan and has often been seen on the Trojans’ sideline over the past 10-15 years. That USC fandom has come to an end, though, the father says. Broadus, a 6-foot-2, 195-pound prospect out of Bishop Gorman (Las Vegas, Nevada), was reportedly considering the Bruins, USC, Arizona State and Notre Dame. “We’re Bruins now.” -Snoop Dogg pic.twitter.com/3pbVh86qVD— Tyler Donohue (@TDsTake) February 4, 2015UCLA’s 2015 class ranks No. 9 in the country by 247 Sports’ Team Rankings.last_img read more

  • In This Issue… Big Ben leaves markets holding a

    first_imgIn This Issue… * Big Ben leaves markets holding additional stimulus bag… * Risk assets turn on a dime, and head down… * Eurozone leaders to meet this weekend on Spain * More James Rickards this morning! And, Now, Today’s Pfennig For Your Thoughts! Everybody Wants To Be The First… Good day… And a Happy Friday to one and all! The end of a very long week for me… It seems like a month of Sundays since just last Friday! But, that’s OK, the weekend is here, and I have plans! I hope my plans don’t get squashed like the hopes that the markets had yesterday that Big Ben Bernanke would announce additional stimulus… Of course, had these market participants, that ran the risk assets up in price ahead of Big Ben’s testimony on the economic outlook to Congress, read the Pfennig earlier in the week, they would have known better than to get all dressed up for a party that wasn’t to come… Recall me saying earlier in the week that I didn’t expect Big Ben to announce QE3 at the Testimony, unless he wanted to get grilled from Ron Paul! But Everybody wants to be first! They want to be able to say that they were either “in” or “out” before everyone else! So, Big Ben left the markets holding the bag yesterday, and quickly, all the good stuff that had pushed the risk assets higher this week, was erased… Poof! Just like that! And then it didn’t help that the ratings agency, Fitch, downgraded Spain’s debt rating… But come on, traders! You mean this announcement by Fitch caught you by surprise? Geez Louise! You guys are more dense than I previously thought! The ball has been forcibly volleyed back to the Eurozone’s problems, and we’re back to sorting out what’s really important and not important.. Spain getting a downgrade, in the long run of things is nothing more than a tempest in a teacup.. Everyone and their brother knows that Spain’s banks are in trouble… I understand that the Eurozone leaders are going to meet this weekend to discuss aid for those Spanish banks… And you should have seen the price manipulators going after Gold yesterday… When they smell blood they go on a feeding frenzy folks… And the price of Gold is down again this morning, making the price fall of the past two days a total of: -$43… So… price manipulators… are you finished playing your games with real investors’ money? Well there was Big news out of China yesterday that I’m sure you didn’t see, because our media doesn’t seem to want to report stuff like this… Even the business stations… zip! Ok, enough complaining… here’s what I wanted to point out… China has approved $23 Billion of steel projects in an attempt to sustain growth, and has approved two new steel mills in the past two weeks. OK… some people may not see what I see from this brief news clip… But, here’s the skinny… Once again China, with their treasure chest of reserves, is pinpointing where money should be spent to support a sector… And if they are going to support the production of steel… Iron ore should be prime for a boost off its bottom, and where does China get its iron ore for steel production? Ahhh grasshopper, you have learned well… of course it’s Australia! So… the China Iron and Steel Assoc. now believe that steel production in China will climb to more than 700 million tons this year! So, whether or not you believe that China should be supporting a sector like this, shouldn’t come in to play… The whole idea is that China will do what it has to in order to keep the economic ship out to sea, and everything they do, benefits Australia’s exports of raw materials… Speaking of Australia… 3 times this week, Australia was presented with stronger than expected economic data, but the Aussie dollar (A$) is so caught up in the Risk On, Risk Off trading that once again fundamentals didn’t matter this week with the A$… Yes, yesterday morning, the A$ actually hit parity to the U.S. dollar again… But then the rug was pulled from under the risk assets by Big Ben’s reluctance to say nothing more about additional stimulus than the same old line about how the Fed remains ready to implement additional stimulus should the economy worsen… Look.. let’s get this straight, right here, right now… I’m no fan of money printing, which is what happens when the Fed implements additional stimulus, as opposed to China that simply spends its reserves… And the Fed started this need for stimulus back in 2009… But, I would have to say that Big Ben just doesn’t see the economy crying out for additional stimulus like I do… It’s like he knows the economy is addicted to stimulus and he’s trying to make the economy go cold turkey… So, on one hand, I’m fine with that… but on the other hand, he’s the one that keeps the door open to additional stimulus… and he keeps saying that “if the economy worsens”… Well, it has worsened already, Big Ben… And one more thing… Big Ben could pull the old, it’s someone else’s fault that we have to implement additional stimulus rabbit out of the hat… Blame it on… Europe’s problems… That seems to be the call of order these days… the blame finger for what ails the U.S. is now pointed at Europe… Remember, it used to be China? Yesterday, I mentioned that China had cut rates… at the time, I hadn’t realized that the last time China cut rates was 3 years ago… But remember, they had to keep rates higher than they really wanted them to be, to combat the housing boom they were experiencing. Now that domestic demand as weakened, and inflation has fallen, the rate cut makes sense… And like I said above, China will do what they need to do to keep the economic ship out to sea. When I saw that it had been 3 years since the Chinese lowered rates, I thought about the rate structure here… did you know that our rates have been between zero and 25 basis points (1/4%) since December of 2008? WOW! The Fed has said that they will keep rates at this near zero level until late 2014… the director of global economics at JP Morgan said that he believes the Fed will keep them at these levels into 2015! So, we’ve got that going for us! Of course Japan has had near zero rates for a LOOOOOOOOOONNNNNNNGGGGG time! And look how well they are doing! NOT! The only reason the yen is so strong is that investors believe it to be a safe haven destination because of the size of Japan’s bond market and the savings of the Japanese people… I just don’t get it though, folks… not that I’m complaining… hey, if the markets want to take yen to 50, I don’t care, that just means yen holders out coming out smelling like roses! But to me… Japan has squandered away their future and it started nearly two decades ago when they first began Quantitative Easing and stimulus programs… And now, as I’ve reported in the past 6 months, Japan’s Trade Surplus, which was always a given, has turned to a deficit each month… The Japanese Current Account is shrinking, folks… and before we know it, the debt burden of Japan will be so great, they will begin to have problems selling debt / bonds… The population is getting older, and the younger people will be hesitant to buy that debt… Then the Uh-Oh affect hits… And about 10 years after that happens in Japan, it will happen here in the U.S. or maybe even sooner… And just when it appeared that U.S. Treasuries were going to go on a ride on the slippery slope… Risk Aversion returns, and just like a clown car, everyone climbs back into Treasuries… and the yields on Treasuries fall again… I like that description of the return to Treasuries as everyone piling into a clown car… Hey! Who has the bottle of seltzer? Did you see that the ratings agency, Fitch, warned the U.S. yesterday that they will lower the triple A rating for the U.S. unless the government seriously tackles its looming financial predicament? Yes… they did… You may recall that S&P lowered the U.S. AAA rating last summer… and the ratings agency, EJR has cut the U.S. rating twice this year. But, here’s my memo to the folks over at Fitch… You might as well go ahead and cut the rate now because there’s NO political will to seriously tackle our debt problem… So, you had better not be bluffing here, because if you are, you will lose all credibility… OK… Canada will print their latest labor report for May today… talk about volatile reports! We started the year with two consecutive months of negative job creation in Canada, and then the next two months with huge gains… Jan and Feb were a total negative -19,000, and Mar and April were positive +60,000… So, I’m going to say that the number will be positive, but not as strong as last month’s +50K… But, I doubt it will help the Canadian dollar / loonie today, as the Risk Off meter is really on the Risk aversion trading side. Today’s U.S. data cupboard has only the April Trade Balance to report… And the Trade Deficit that prints each month just doesn’t get its due… People have all become comfortably numb about these deficits in the U.S. I’ll give you the link to the U.S. Debt Clock at the end as usual today… maybe a peek at that will shake that numbness! But you know, I only speak to a small group of people when you consider the population of the U.S. it’s your job to get the word out… or least get your friends and family signed up to the Pfennig! But really… the size of these numbers are just beginning to get all hazy when people look at them because they only print in red to represent a deficit, and they are so LARGE, that people all lose their thought because they make no sense to them… If the deficit number was $57,000 that would be understood… but when you add a few zeroes to $57,000, you get our national debt…. Then There Was This… Did you like the James Rickards thing yesterday? Well, I thought I would give you some more of this interview with the author of Currency Wars…When asked if the U.S. Gov. was pursuing a policy that favored big business, to help them grow their exports and to make the middle class struggle, James Rickards responded: “That’s a very fair characterization. Who are the big exporters? We know who they are – it’s Boeing, General Electric, Caterpillar to some extent, Hollywood, Microsoft. These are companies that sell massive amounts of goods overseas, so the cheap-dollar policy helps those big corporations, but it is devastating to everyday Americans, because of the inflation that follows. People with savings, with insurance policies, with annuities, with retirement, with any kind of fixed income – these are the losers in the currency wars. These are the people who basically see their savings depleted. Estimates show that, basically, the Fed’s zero-rate policy, compared to a normalized interest rate policy… If you had rates at a level that would be normal, historically, for this stage of recovery and this amount of economic growth, the difference between where they normally are and where they actually are, at zero, is taking $400 billion a year out of the pockets of savers and sticking it into the banks who are benefitting from this low cost of funds. So this is theft. This is Madoff on steroids. The Treasury and the Fed are basically robbing savers in the United States and handing the money over to banks and corporations in the form of a cheaper currency or a cheaper cost of funds. Cumulatively this is over $1 trillion. The Fed’s trying to prop up the banks – that’s sort of what they were designed to do – but it is coming at the expense of everyday Americans. So it’s a form of wealth transfer, or as I call it, theft.” Chuck again… remember this follows the piece yesterday, where Mr. Rickards talks about how the U.S. Gov’t, Treasury, and Fed all want a cheaper dollar, and will continue in their attempt to get the dollar weaker. I got a chance to me James Rickards while on the panel with him in Florida at the Casey Summit last month… A very smart guy… and nice too! At least from my 1-minute introduction to him, I could tell that! HA! To recap… the currency and metals rally was wiped out in a heartbeat yesterday, after Big Ben Bernanke left the market holding the “we want more stimulus” bag. But Gold’s move was more than unwinding of trades, folks… this move down was ugly… more like manipulation… So, today is a Risk Off day, after a couple of days of Risk On… and investors are piling back into the clown car / Treasuries… The Eurozone leaders will hold a meeting this weekend to discuss how to rescue Spanish banks. And the Trade Deficits, (who cares? ) prints today… Currencies today 6/8/12… American Style: A$ .9840, kiwi .7635, C$ .9660, euro 1.2460, sterling 1.5435, Swiss $1.0375, … European Style: rand 8.4840, krone 6.10, SEK 7.2080, forint 238.45, zloty 3.4515, koruna 20.4835, RUB 32.76, yen 79.25, sing 1.2865, HKD 7.7575, INR 55.55, China 6.37, pesos 14.17, BRL 2.03, Dollar Index 82.78, Oil $84.42, 10-year 1.57%, Silver $28.23, and Gold …. $1,578.50 That’s it for today… well… Cardinals come home after a 3-city road trip, and its EverBank’s night at the ballpark! We rent a big room at the stadium each year, and have a great time, although… The Cardinals have never won on the night that we go each year! That had better change tonight! I was supposed to be doing a radio interview this Sunday at WAAM but, I’m not talking too good these days, as I have a problem in my mouth again… But that shouldn’t stop you from tuning in on the internet and stream in Doctor Dave Janda’s Operation Freedom radio show on Sunday! It’s a pizza Friday… so I’ve got that going for me today! And with that, I want to thank you for reading the Pfennig, and hope you have a Fantastico Friday, and Wonderful Weekend! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.comlast_img read more