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jerryking : war_for_talent   33

CIBC’s Victor Dodig warns about global debt levels; urges Canada to prepare
SEPTEMBER 11, 2018 | The Globe and Mail | by JAMES BRADSHAW (BANKING REPORTER)

Who/Where/Occasion: CIBC's CEO Victor Dodig, in a speech to the Empire Club

Problem(s):
* alarm over rising global debt levels, warning that Canada needs to start preparing now for the next economic shock.
* some of the most acute threats to the global economy are beyond this country’s control, but cautioned Canadians not to get too comfortable while times are good.
* developing problems could ripple through interwoven financial markets around the world.
* “It sounds counterintuitive, but that same debt that helped the world recover is actually infusing risk into the global financial system today," ...“I think there’s a real serious global challenge of this low-interest-rate party developing a big hangover."

Remedies:
* clarify rules around foreign direct investment, which is falling in Canada. The main culprit is the uncertainty plaguing large business deals that require approval from Ottawa under opaque foreign-investment rules – and he cites the turmoil surrounding the Trans Mountain pipeline expansion as an example.
* more immigration to Canada, asking the government – which has already set higher immigration targets for the coming years – to open its arms even wider.
* governments and employers to work more closely with universities and colleges to match the skills graduates have to employers' needs, promoting what are known as the STEM disciplines – science, technology, engineering and math – as well as skilled trades.
* remove interprovincial trade barriers.
* allow companies to expense capital investments within one year to be more competitive with U.S. rules.

My Takeaways:
CEOs  CIBC  debt  FDI  global_economy  interconnections  interest_rates  opacity  pipelines  resilience  speeches  uncertainty  Victor_Dodig  war_for_talent  threats  beyond_one's_control  complacency  preparation  financial_system  readiness 
september 2018 by jerryking
Hedge funds fight back against tech in the war for talent
August 3, 2018 | | Financial Times | by Lindsay Fortado in London.

Like other industries competing for the top computer science talent, hedge funds are projecting an image that appeals to a new generation. The development is forcing a traditionally secretive industry into an unusual position: having to promote itself, and become cool.

The office revamp is all part of that plan, as hedge funds vie with technology companies for recruits who have expertise in machine learning, artificial intelligence and big data analytics, many of whom are garnering salaries of $150,000 or more straight out of university.

“A lot have gone down the Google route to offer more perks,” said Mr Roussanov, who works for the recruitment firm Selby Jennings in New York. “They’re trying to rebrand themselves as tech firms.”...While quantitative investing funds, which trade using computer algorithms, have been on the forefront of hiring these types of candidates, other hedge funds that rely on humans to make trading decisions are increasingly upping their quantitative capabilities in order to analyze reams of data faster.

The casual work atmosphere and flexible hours at tech firms such as Google have long been a strong draw, and hedge funds are making an effort to 'rebrand themselves' Besides the increasing amount of perks funds are trying to offer, like revamping their workplace and offering services such as free dry-cleaning, they are emphasizing the amount of money they are willing to spend on technology and the complexity of the problems in financial markets to entice recruits.

“The pitch is . . . this is a very data-rich environment, and it’s a phenomenally well-resourced environment,” said Matthew Granade, the chief market intelligence officer at Point72, Steve Cohen’s $13bn hedge fund.

For the people Mr Granade calls “data learning, quant types”, the harder the problem, the better. “The benefit for us is that the markets are one of the hardest problems in the world. You think you’ve found a solution and then everyone else catches up. The markets are always adapting. So you are constantly being presented with new challenges, and the problem is constantly getting harder.”
hedge_funds  recruiting  uWaterloo  war_for_talent  millennials  finance  perks  quantitative  hard_questions  new_graduates  data_scientists 
august 2018 by jerryking
The quant factories producing the fund managers of tomorrow
Jennifer Thompson in London JUNE 2, 2018

The wealth of nations and individuals is ever more likely to be influenced by computer algorithms as investors look to computer-powered quantitative trading strategies to generate returns. But underpinning those machines and algorithms are real people, namely the world’s sharpest mathematicians and data scientists.

Though not hard to identify, virtually every industry — and especially Big Tech — is competing with the financial world for their skills....Competition for talent means the campuses of elite universities have become a favoured hunting ground for many groups, and that the very best students and early career academics can command staggering starting salaries should they join the investment world......The links asset managers foster with universities vary. In the UK, Oxford and Cambridge are home to dedicated institutes established and funded by investment managers. Although these were set up with a genuine desire to foster research in the field, with a nod to philanthropy, they are also proving to be an effective way to spotting future talent.

Connections between hedge funds and investment managers are less formalised on US campuses but are treated with no less importance.

Personal relationships are important,
mathematics  data_scientists  quants  quantitative  hedge_funds  algorithms  war_for_talent  asset_management  PhDs  WorldQuant  Big_Tech 
june 2018 by jerryking
AllianceBernstein’s Nashville move threatens New York and London
May 3, 2018 | Financial Times | Gillian Tett 10 HOURS AGO.

AllianceBernstein’s Nashville move is highly symbolic — and revealing — of the current state of finance. It highlights rising cost pressures on traditional asset managers, as investors abandon expensive, actively-run mutual funds for low-fee, passive trackers. The shift also shows how technological disruption is forcing top executives to rethink their assumptions. One obvious factor that has made it easier for a company such as AllianceBernstein to shift its physical headquarters is that the internet makes it possible to trade securities and do research anywhere in the world.

However, another, less-discussed, issue is that as financial services move into cyber space and the sector throws money at technology, companies also need to build digital facilities and hire computer technicians. That is tough to do in New York: competition for digital workers is high and it is hard to build cutting-edge computer hubs in densely packed historic buildings.

There is a third point about boardroom psychology: as executives toss those “d” words around — digital disruption — the conversations allow them to question all manner of taboos, including many that have nothing to do with computers. The idea of leaving a hallowed financial centre thus becomes easier to embrace, as costs keep rising in America’s coastal hubs.
Gillian_Tett  relocation  asset_management  cost_of_living  quality_of_life  Nashville  war_for_talent  digital_strategies  disruption 
may 2018 by jerryking
Banking and finance have vacuumed up the talent
March 25, 2018 | Financial Times | Andrew Hill YESTERDAY.
"Unlike most people I actually enjoy manufacturing,” James Dyson says, “[but] I genuinely believe that the British middle class despises it, largely thanks to Charles Dickens’ Hard Times and William Blake’s ‘dark satanic mills’.”

The UK designer of vacuum cleaners and hand-dryers enjoys railing against national “cultural disdain for factories”......A more plausible reason why innovative juices are channelled away from manufacturing could be the sucking sound from the City of London. The rewards of banking and finance still vacuum up talented graduates......Even when the bubble was at full stretch in 2007, the percentage of engineering graduates who moved into finance and insurance within three years of leaving higher education did not top 5 per cent. Lately, the figure has dropped to 3.4 per cent. A Dyson-pleasing 25.5 per cent now go into manufacturing — not enough to cover a projected annual shortfall of 20,000 engineers in the UK, but still respectable.

It was the sheer success and smug complacency of Victorian manufacturers that made them a target for Dickens. As Sir James goes from strength to strength, he should be careful what he wishes for. He has set up a Dyson Institute to train a generation of engineers.
financial_services  engineering  talent  entrepreneur  war_for_talent  finance  manufacturers  James_Dyson 
march 2018 by jerryking
America’s intelligence agencies find creative ways to compete for talent - Spooks for hire
March 1, 2018 | Economist |

AMERICA’S intelligence agencies are struggling to attract and retain talent. Leon Panetta, a former Pentagon and CIA boss, says this is “a developing crisis”......The squeeze is tightest in cyber-security, programming, engineering and data science.....Until the agencies solve this problem, he says, they will fall short in their mission or end up paying more for expertise from contractors. By one estimate, contractors provide a third of the intelligence community’s workforce.....Part of the problem is the demand in the private sector for skills that used to be needed almost exclusively by government agencies, says Robert Cardillo, head of the National Geospatial-Intelligence Agency (NGA). To hire people for geospatial data analysis, he must now compete with firms like Fitbit, a maker of activity-measurement gadgets. .....The NGA now encourages certain staff to work temporarily for private firms while continuing to draw a government salary. After six months or a year, they return, bringing “invaluable” skills to the NGA, Mr Cardillo says. Firms return the favour by quietly lending the NGA experts in app development and database security. .....
war_for_talent  talent  data_scientists  CIA  security_&_intelligence  cyber_security  Leon_Panetta  SecDef  Pentagon  geospatial 
march 2018 by jerryking
Universities’ AI Talent Poached by Tech Giants - WSJ
By DANIELA HERNANDEZ and RACHAEL KING
Nov. 24, 2016

Researchers warn that tech companies are draining universities of the scientists responsible for cultivating the next generation of researchers and who contribute to solving pressing problems in fields ranging from astronomy to environmental science to physics.

The share of newly minted U.S. computer-science Ph.D.s taking industry jobs has risen to 57% from 38% over the last decade, according to data from the National Science Foundation. Though the number of Ph.D.s in the field has grown, the proportion staying in academia has hit “a historic low,” according to the Computing Research Association, an industry group.

Such moves could have a long-term impact on the number of graduates available for teaching positions because it takes three to five years to earn a doctorate in computer science. ....The squeeze is especially tight in deep learning, an AI technique that has played a crucial role in moneymaking services like online image search, language translation and ad placement,
Colleges_&_Universities  poaching  Alphabet  Google  Stanford  artificial_intelligence  Facebook  machine_learning  talent_pipelines  research  PhDs  deep_learning  war_for_talent  talent 
november 2016 by jerryking
Yes, It's a Tech Bubble. Here's What You Need to Know
SEPTEMBER 2015 ISSUE | | Inc.com | BY JEFF BERCOVICI.

"Investors change priorities. Soon, they may be telling you, 'We want to see profitability at the expense of growth.' So you need to think about the levers you can pull to make that happen." (JCK- How does redirect from a growth mindset and plans to one of profitability?--Scott Kupor)

First, there will be some upside. Sky-high home and office rents in certain cities and neighborhoods will drop, and if you're not in the market yet, you'll have a great buying opportunity. If you're hiring, the drum-tight talent market for anyone with programming skills should loosen up considerably, although big companies may reap the benefits more than small ones, says Oliver Ryan, founder of the tech recruiting firm Lab 8 Ventures. "The 'war' for engineering talent is primarily a supply-and-demand issue, so a widespread pullback of venture capital would likely diminish demand to a point," he says.......a burst bubble could also create new types of adversity. ....suppliers and distribution partners may disappear, your business notwithstanding......money is time, and the best way to ride out a downturn is with a couple of years' worth of cash stashed in your mattress. Just be sure you're prepared to deliver a couple of extra years' worth of growth, because you'll need to if you follow the raise-more-than-you-need plan. "It's not without risk," .... "You'll have to make the numbers to justify your valuation at some point, so you're raising the hurdle on yourself."......To make it over the chasm, you have to show investors traction and momentum--a PowerPoint slide with a line pointing up and to the right. A startup can often manufacture these things by spending enough on advertising and customer acquisition. But the attributes so richly rewarded in the current environment aren't necessarily the same ones that will be selected for once the bubble bursts......In October 2008, Doug Leone of Sequoia Capital gave a famous presentation titled "R.I.P. Good Times," in which he counseled entrepreneurs to squirrel away their nuts for winter and "spend every dollar as if it was your last." In hindsight Leone's forecast, and his warning was seen as alarmist......be more careful about the terms on which you raise money as that "extreme end of a cycle" approaches. Typically, you'll seek the highest possible valuation: (a) It minimizes dilution and generates publicity that attracts talent and clients and even more capital. But as valuations settle--and the inevitable rise of interest rates all but guarantees they will--founders who overreached will struggle to support, or defend, those valuations. In the worst instances, if you finagled an extra 10 or 20 % of paper value by granting investors aggressive downside protections--the "features" and "ratchets" that VCs use to make reckless bets without incurring real risk--you'll find yourself downgraded from owner to employee. "
boom-to-bust  bubbles  downside  economic_downturn  founders  growth  investors  mindsets  overreach  profitability  priorities  Sequoia  start_ups  Silicon_Valley  silver_linings  upside  vc  venture_capital  war_for_talent 
october 2016 by jerryking
Goodbye, Ivory Tower. Hello, Silicon Valley Candy Store. - The New York Times
By STEVE LOHR SEPT. 3, 2016

A number of tech companies are luring Ivy League economists out of academia with the promise of big sets of data and big salaries.

Silicon Valley is turning to the dismal science in its never-ending quest to squeeze more money out of old markets and build new ones. In turn, the economists say they are eager to explore the digital world for fresh insights into timeless economic questions of pricing, incentives and behavior....Businesses have been hiring economists for years. Usually, they are asked to study macroeconomic trends — topics like recessions and currency exchange rates — and help their employers deal with them.

But what the tech economists are doing is different: Instead of thinking about national or global trends, they are studying the data trails of consumer behavior to help digital companies make smart decisions that strengthen their online marketplaces in areas like advertising, movies, music, travel and lodging.

Tech outfits including giants like Amazon, Facebook, Google and Microsoft and up-and-comers like Airbnb and Uber hope that sort of improved efficiency means more profit....“They are microeconomic experts, heavy on data and computing tools like machine learning and writing algorithms,”
Silicon_Valley  massive_data_sets  economists  Steve_Lohr  Airbnb  Hal_Varian  digital_economy  academia  microeconomics  Ivy_League  insights  consumer_behavior  war_for_talent  talent 
september 2016 by jerryking
Goldman’s Tech Chief Pushes the Bank to Be More Open, Like Him - The New York Times
APRIL 1, 2016 | NYT | By NATHANIEL POPPER.

Today Goldman is trying to change not only that public image, but also some of the central tenets of its culture, like the secrecy and reliance on back-room dealings. The firm’s chief executive, Lloyd C. Blankfein, has said he wants Goldman to be thought of as a tech company — putting it in direct competition for talent with the Googles and Facebooks of the world. No one is more central to these efforts than Mr. Chavez.

Mr. Chavez, who was promoted just over two years ago to oversee the firm’s 9,000 or so computer engineers — nearly a third of the staff — is pushing the 147-year-old firm to, among other things, share more of its data and software with clients. His centerpiece project, Marquee, gives clients access to sophisticated trading data previously available only by phoning a Goldman employee.....Mr. Chavez represents broad pressures across the financial industry. The 2008 economic crisis and the regulations that followed it are forcing banks to become less opaque and more technologically savvy and efficient. This has shifted the center of power in the business away from the trading desks, where it was before the crisis, and toward the programmers and engineers — until recently dismissed as the geeks in the back office....Mr. Chavez says that if efforts like his are successful, clients will see “a very different configuration of the financial services industry than the one we have now.” Goldman will still have the chief product of a bank — money to lend and invest — but he thinks that the ways in which customers get access to that money will rely more on software and less on the bankers who traditionally delivered Goldman’s services.
CIOs  Wall_Street  Goldman_Sachs  Hispanics  transparency  financial_services  Martin_Chavez  war_for_talent  digital_savvy 
april 2016 by jerryking
Bay Street’s next big struggle: keeping top young talent - The Globe and Mail
TIM KILADZE
Bay Street’s next big struggle: keeping top young talent
SUBSCRIBERS ONLY
The Globe and Mail
Published Tuesday, Sep. 29, 2015
Bay_Street  Silicon_Valley  talent  work_life_balance  investment_banking  war_for_talent  management_consulting 
october 2015 by jerryking
Laszlo Bock on the Future of Hiring - WSJ
July 7, 2014

"Technology will also enable employers to find the most talented people in the world's seven billion. Every company that's growing will want high-quality people, but if you just look at traditional qualifications, we'll run out of people to hire. Clever organizations will cast a much wider net for the most in-demand skills. It's going to be easier, eventually, to find the brilliant top 5% of the world than taking 50th-percentile performers and turning them into top-five-percentile performers."

— Laszlo Bock, senior vice president of people operations at Google Inc.
future  hiring  Google  talent  war_for_talent  high-quality  Laszlo_Bock 
august 2014 by jerryking
Getting Started in ‘Big Data’ - The CFO Report - WSJ
February 4, 2014 | WSJ |by JAMES WILLHITE.

executives and recruiters, who compete for talent in the nascent specialty, point to hiring strategies that can get a big-data operation off the ground. They say they look for specific industry experience, poach from data-rich rivals, rely on interview questions that screen out weaker candidates and recommend starting with small projects.

David Ginsberg, chief data scientist at business-software maker SAP AG , said communication skills are critically important in the field, and that a key player on his big-data team is a “guy who can translate Ph.D. to English. Those are the hardest people to find.”

Along with the ability to explain their findings, data scientists need to have a proven record of being able to pluck useful information from data that often lack an obvious structure and may even come from a dubious source. This expertise doesn’t always cut across industry lines. A scientist with a keen knowledge of the entertainment industry, for example, won’t necessarily be able to transfer his skills to the fast-food market.

Some candidates can make the leap. Wolters Kluwer NV, a Netherlands-based information-services provider, has had some success in filling big-data jobs by recruiting from other, data-rich industries, such as financial services. “We have found tremendous success with going to alternative sources and looking at different businesses and saying, ‘What can you bring into our business?’ ” said Kevin Entricken, the company’s chief financial officer.
massive_data_sets  analytics  data_scientists  cross-industry  recruiting  howto  poaching  plain_English  connecting_the_dots  storytelling  SAP  Wolters_Kluwer  expertise  Communicating_&_Connecting  unstructured_data  war_for_talent  talent  PhDs  executive_search  artificial_intelligence  nontraditional 
june 2014 by jerryking
Talent Shortage Looms Over Big Data - WSJ.com
April 29, 2012 | WSJ | By BEN ROONEY

Big Data's Big Problem: Little Talent

"A significant constraint on realizing value from Big Data will be a shortage of talent, particularly of people with deep expertise in statistics and machine learning, and the managers and analysts who know how to operate companies by using insights from Big Data," the report said. "We project a need for 1.5 million additional managers and analysts in the United States who can ask the right questions and consume the results of the analysis of Big Data effectively." What the industry needs is a new type of person: the data scientist.....Hilary Mason, chief scientist for the URL shortening service bit.ly, says a data scientist must have three key skills. "They can take a data set and model it mathematically and understand the math required to build those models; they can actually do that, which means they have the engineering skills…and finally they are someone who can find insights and tell stories from their data. That means asking the right questions, and that is usually the hardest piece."

It is this ability to turn data into information into action that presents the most challenges. It requires a deep understanding of the business to know the questions to ask. The problem that a lot of companies face is that they don't know what they don't know, as former U.S. Defense Secretary Donald Rumsfeld would say. The job of the data scientist isn't simply to uncover lost nuggets, but discover new ones and more importantly, turn them into actions. Providing ever-larger screeds of information doesn't help anyone.

One of the earliest tests for biggish data was applying it to the battlefield. The Pentagon ran a number of field exercises of its Force XXI—a device that allows commanders to track forces on the battlefield—around the turn of the century. The hope was that giving generals "exquisite situational awareness" (i.e. knowing everything about everyone on the battlefield) would turn the art of warfare into a science. What they found was that just giving bad generals more information didn't make them good generals; they were still bad generals, just better informed.

"People have been doing data mining for years, but that was on the premise that the data was quite well behaved and lived in big relational databases," said Mr. Shadbolt. "How do you deal with data sets that might be very ragged, unreliable, with missing data?"

In the meantime, companies will have to be largely self-taught, said Nick Halstead, CEO of DataSift, one of the U.K. start-ups actually doing Big Data. When recruiting, he said that the ability to ask questions about the data is the key, not mathematical prowess. "You have to be confident at the math, but one of our top people used to be an architect".
data_scientists  massive_data_sets  talent_management  talent  Pentagon  SecDef  limitations  shortages  McKinsey  war_for_talent  recruiting  Colleges_&_Universities  situational_awareness  questions  Donald_Rumsfeld  asking_the_right_questions 
june 2012 by jerryking
Revenge of the Nerds: Tech Firms Scour College Campuses for Talent - WSJ.com
May 30, 2012 | WSJ | Spencer E. Ante

The technology boom has created an acute shortage of engineers and software developers. The industry has responded by taking a page from the playbook of professional sports: identify up and comers early, then roll out the red carpet to lock them up.
Colleges_&_Universities  talent  Silicon_Valley  war_for_talent  internships  perks  nerds  playbooks 
may 2012 by jerryking
Canada must actively recruit the best and brightest immigrants - The Globe and Mail
Globe Editorial
Canada must actively recruit the best and brightest immigrants
From Saturday's Globe and Mail
Published Friday, May. 04, 2012

The world has changed, and when it comes to its immigration system, Canada is not changing fast enough to compete in it. It is no longer possible to sit back languidly, as the best and the brightest queue on its doorstep. The global market for human capital is voracious. There may always be migrants wanting to come to Canada, but they may not be the ones that Canada needs. People with options are less and less likely to tolerate hidebound and cumbersome immigration process, waiting as long as eight years to have their applications processed. If you are ambitious, if you are skilled, if you are entrepreneurial, if you are educated, if you are impatient for success, you will look elsewhere. Increasingly, elsewhere is looking better.
war_for_talent  editorials  recruiting  talent  immigrants  immigration  best_of  cream_skimming 
may 2012 by jerryking
Law Firms Pursue Growth by Poaching - WSJ.com
JANUARY 31, 2012 |WSJ |By JENNIFER SMITH

Law Firms Pursue Growth by Poaching in Tough Climate

Other firms aren't bashful about their goals. "We look for superstars," said John Quinn, managing partner at Quinn Emanuel Urquhart & Sullivan LLP, which recently lured trial lawyer Bill Burck from Weil, Gotshal & Manges LLP. "Our approach is sort of like the NFL draft."

Weil executive partner Barry M. Wolf said his firm hired 18 lateral partners last year, expanding several practice groups.
law_firms  lawyers  talent  talent_management  war_for_talent  poaching  superstars 
march 2012 by jerryking
Talent Wars
September 2006 | Canadian Lawyer | Kevin Marron
law_firms  globalization  talent  talent_management  war_for_talent 
november 2011 by jerryking
Foreign scholarships and the risky business of innovating - The Globe and Mail
Nov. 16, 2010 / Globe and Mail / Editorial. Neil Turok,
director of the Perimeter Institute for Theoretical Physics in Waterloo,
Ont., which sets out to attract some of the world’s top scientific
minds, told The Globe and Mail’s editorial board yesterday, “Because the
rest of the world is in relative difficulty financially, now is the
time to attract global talent. Canada has an amazing opportunity.” A
good case, a difficult sell. Innovation means trying something that
can’t be proven in advance, as Roger Martin, dean of the University of
Toronto’s Rotman School of Management, says. The foreign scholarships
are a investment with a strong upside, and a high risk that is mostly
political.
Colleges_&_Universities  innovation  Ontario  scholarships  risks  talent_management  Rotman  editorials  Perimeter_Institute  political_risk  poaching  Kitchener-Waterloo  upside  high-risk  Roger_Martin  foreign_scholarships  war_for_talent 
november 2010 by jerryking
Brand on the Run
Jan 22, 2008 | Personnel Today. pg. S4, 3 pgs | by Natalie
Cooper. Employer branding covers everything from how employers manage
the organization's reputation, as well as its image and identity, to how
this is communicated internally to employees and externally to
potential candidates and clients. What's more, employees who buy into
employer brand values can act as company champions, spreading positive
messages about their experience. So as the war for talent intensifies,
the stakes get higher.
Freshbooks  branding  onboarding  human_resources  Employer_of_Choice  employer_branding  war_for_talent 
october 2009 by jerryking
A chance for bankers to refocus their talents
April 6 2009 19:52 | Financial Times | Gillian Tett.

if finance no longer keeps monopolising the brightest and best workers, some of that talent could be diverted into other, more productive, arenas - for the good of the economy.

Some of those financiers now being "demobbed" - or sacked - have strong science or engineering backgrounds, and are sitting on spare capital. In an ideal world, they would be perfect candidates to support manufacturing, information technology or other high-tech start-ups of the kind that Europe in particular so desperately needs.

America, for its part, is also short of engineers. The Society of Manufacturing Engineers, for example, calculates that while the country needs 100,000 engineering graduates a year, it is only producing some 70,000. The SME itself points out in a new advertising campaign aimed at students: "Engineers create real wealth by solving problems rather than creating 'paper' wealth by playing with the markets."

The public sector in both America and Europe could also benefit from an influx of highly skilled, financially astute managers. Expanding the talent base of the regulators, in particular, would seem one obvious place to start. The non-profit and educational sectors also need more smart, highly skilled workers, particularly (but not exclusively) in places such as the UK.
layoffs  Second_Acts  Gillian_Tett  transferable_skills  the_best_and_brightest  financial_services  engineering  talent  entrepreneur  war_for_talent  finance  manufacturers  banking  redeployments 
april 2009 by jerryking

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