Resurrection Cemetery [5959]
Infrared-converted Nikon D80 + 14-24mm f/2.8g | Resurrection Cemetery, Justice, IL | 30 Jul 2011
© 2011 José Francisco Salgado, PhD
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resurrection cemetery justice il, nikon d80, 8g
warmed by the evening light
DSC_0272_boat_sunset
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More photos of Quarry Beck here: www.flickr.com/photos/davidambridge/sets/72157627151511095/
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quarry, waterfall, beck, photos
Antico e Moderno - Louvre Paris
Canon 5d MarkII
Canon ef 35mm f/2
le mie foto:
flickrhivemind.net/flickr_hvmnd.cgi?search_domain=User&am...
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Mind Steps
Digital photography (iPhone 3GS) - Hipstamatic 220
Lens: Helga Viking
Film: Ina's 1969
Flash: off
Hipstamatic Blog: www.hipstamatic210.blogspot.com/
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Dunkin' runs on coffee more than doughnuts, which means its IPO-fueled expansion plans are likely to heat up the fast-food java battle, particularly with McDonald's Corp.
Dunkin' Donuts runs on coffee, not doughnuts. As parent Dunkin' Brands prepares to go public and expand beyond its Northeastern roots, expect the coffee wars to heat up, according to Julie Jargon.
On Tuesday evening, the initial public offering of Dunkin' Brands Group Inc. was priced at $19 a share, raising $427.5 million. The franchise-centric company, which houses both the Dunkin' Donuts and Baskin-Robbins chains, plans to use the funds to pay down debt and move beyond its Northeastern roots. Though Dunkin' doesn't have the same level of brand recognition as McDonald's or Starbucks Corp., the company also hasn't penetrated the western U.S. or other parts of the country as deeply, giving it more opportunity to expand. And it's there that it hopes to give both rivals a run for their money among caffeine cravers.
Dunkin' Brands is owned by private-equity firms Bain Capital Partners LLC, Carlyle Group and Thomas H. Lee Partners, which bought it in 2006 for $2.4 billion. They will maintain a controlling interest; about 20% of the shares outstanding are being floated.
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Like many companies in private-equity hands, Dunkin' carries a hefty debt load. In the first quarter, 75% of Dunkin's operating earnings were wiped away by interest payments. The load was made heavier after owners in November borrowed more to pay themselves a $500 million dividend, said Francis Gaskins, president of IPOdesktop.com. Even post-IPO, Dunkin' will carry about $1.5 billion of debt, according to the prospectus. But it also has more flexibility to expand since all of its stores are franchises.
A company once known for its commercials showcasing a sleepy baker waking up to make fresh doughnuts now advertises its coffee with "America Runs on Dunkin'" and "What Are You Drinkin'?" slogans. Its orange-and-pink signs feature a coffee cup next to its name. It sells more servings of hot regular coffee and iced coffee than any other fast-food chain in the U.S., including Starbucks, according to NPD market research data. In New England and New York, Dunkin' says it has 57% of the fast-food coffee market. Coffee and other drinks represent 60% of the Dunkin' Donuts chain's U.S. sales, according to the prospectus.
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Bloomberg News
Dunkin' Donuts plans to expand in the U.S. in the next two years. Above, a Dunkin' Donuts in New Jersey.
At McDonald's, which kicked off the coffee war three years ago when it began rolling out specialty coffees nationwide, about 6% of U.S. revenue now comes from coffee drinks.
Starbucks could lose customers to Dunkin' Donuts, but competition is likely to be more fierce between Dunkin' and McDonald's due to the two chains' similar pricing. As Dunkin' expands into more of McDonald's territory, the two chains are likely to engage in price wars, predicts Dave Jenkins, co-founder of CustomersDNA. Stepped-up competition also may force Dunkin' to expand its menu beyond breakfast, the way Starbucks recently has with snacks and "bistro boxes" containing lunch items.
"Dunkin' can expand with units," meaning new stores, Mr. Jenkins says. But if revenue per-store is to rise, he says, "the only way to do that is to steal customers at other meal occasions."
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Dunkin' Donuts is a munchkin next to McDonald's, which has more than 14,000 restaurants in the U.S. and had $24 billion in 2010 revenue. By comparison, Dunkin Donuts products are sold in 6,800 locations in the U.S., including supermarkets as well as its coffee shops, and Dunkin' Brands' 2010 revenue totaled $577 million.
The doughnut chain plans to open as many as 250 more shops in the U.S. in the next two years. The company says in its prospectus that its expansion strategy "has the potential, over approximately the next 20 years, to more than double our current U.S. footprint and reach a total of 15,000 points of distribution in the U.S.," including grocery stores.
A Dunkin' spokeswoman declined to comment, citing a pre-IPO quiet period.
A McDonald's spokeswoman declined to comment on the competition, saying, "We remain focused on our business and serving our customers."
The Dunkin IPO is "one of the most anticipated offerings of 2011," says Joscelyn MacKay, senior analyst at investment-research firm Morningstar Inc., adding that Dunkin' Donuts demonstrated the strength of its business model when it suffered only modest sales declines during the recession and recovered in 2010 with growth of 2.3%.
Dunkin' boasts in its prospectus that it had 45 consecutive quarters of positive comparable store-sales growth until the economic meltdown pulled it into negative territory in 2008 and 2009. Though same-store sales are in positive territory now, the level is below 3%—half the level seen in 2004 and 2005.
Its same-store sales growth also is lower than the 7% seen last year at Starbucks, which was hit harder in the recession and has fought to come back by closing under-performing stores, boosting the perks of its loyalty-card program and introducing new varieties of its Via instant coffee.
Write to Julie Jargon at julie.jargon@wsj.com and Lynn Cowan at lynn.cowan@dowjones.com
bain capital partners, bain capital partners llc, private equity firms, julie jargon, coffee wars, starbucks corp, carlyle group, dunkin donuts, java battle, dunkin brands, initial public offering, lee partners, coffee cup, thomas h lee, s corp, gaskins, debt load, baskin robbins, brand recognition, america runs on dunkin
Georgia Aquarium
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This is a Facebook style Avatar or (Buddy Icon) for someone who loves classic musclecars.
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Soaking up a little sun
It was robin central out here this afternoon. I've only seen these guys on a few rare occasions in the past but a few pairs hung around today along with plenty of their Scarlet and Flame cousins.
Hooded Robin, Tharwa Sandwash, via Tharwa, A.C.T.
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Niagara Gorge
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If you can't stand the heat..
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Florida - Tampa - Ybor City - Photo taken with my iPhone
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Balanced Rock i Arches, rdfarget av solnedgangen
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© James Kemlo
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Winter in my Heart
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Rising Gannet
Recently spent the weekend on Flamborough head. Getting up very early on the Saturday, the day was spent exploring Flamborough head and Bempton cliffs, before moving on to Bridlington on the Sunday.
Bempton cliffs is a stretch of Flamborough head which is managed by the RSPB. It’s a great location for watching Gannets, auks, puffins, fulmar and kittiwakes. There are also fields that are full of sage warblers and corn bunting. The cliffs themselves are made from chalk and are a brilliant white making photography against them easy as there is plenty of reflected light. As the day progresses into the afternoon, the sun moves round and shines of the seabirds that glide past at eye level. It’s a great place to spend the day! Would love to be there in the evening or at down to catch the birds against the rising or setting sun. Save that for the next trip!
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Un soir Paris
Location : Europe - France - Paris
Date : May 2011
Nikon D700 - 16-35mm VR
3 raws HDR - No tripod
Please don't use this image on websites, blogs or other media without my explicit permission.
© kader Lagraa.
All rights reserved
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Klamath Hills
Not far from klamath falls is a nice remote area to hike - Klamath Hills. Actually this is more of a hunting area for upland game birds but it is a nice place for a hike or a trail run as well.
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Au Sable Point Light (Near Grand Marais, Michigan)
Au Sable Point Light sits in Pictured Rocks National Lakeshore and it a beautiful 1.5 mile hike from the Hurricane Beach campground. I visited it early in the morning, as the sun was rising. Park rangers provide tours, which would have been wonderful, but I am glad I got to see it.
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St Michael's Mount
www.stmichaelsmount.co.uk/
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Today is another Party in the Park; first post, 3 p.m.
FOURTH RACE: Linda Rice's Resoundingly, favored at 9-5 under Javier Castellano, looked like a winner every step of the way until the final two or three. Rogue, 8-1 under Elvis Trujillo, opened a slight lead down the backside, tracked by Resoundingly, with 2-1 Centrina stalking a few lengths back in third under a snug hold by Jose Espinoza. Resoundingly went after Rogue turning for home to take the lead at the top of the stretch, while Centrina rallied to her outside. Through the long run down the stretch, Resoundingly was safely holding Centrina at bay and looked home free, until Centrina surged in the final strides to get her nose down in the last jump. It was the fourth straight victory for Centrina, trained by Carlos Martin, the last three of those in photo-finishes.
FIFTH RACE: When Jerry Bailey retired, did he transfer his rail pass to Ramon Dominguez? Barclay Tagg's Beau Choix, 3-1 coming off a fourth in the Poker, tucked in along the rail under Dominguez, well off the pace set by Stormy's Majesty pressed by Boots Ahead. Turning for home, Beau Choix was bottled up behind the leaders, and after first contemplating splitting horses at the top of the stretch, Dominguez instead opted to drop back inside, where he found running room along the fence. Beau Choix drove through the hole to take the lead in deep stretch, edging 6-1 Pocket Cowboys, who rallied wide under Edgar Prado.
SEVENTH RACE: What an easy game! Linda Rice, the queen of turf sprints, had an uncoupled entry in this grass dash of 5-2 favorite Pegasus Tommy D. and 7-2 Quick Money. Quick Money led all the way under Ramon Dominguez, holding on to win a photo-finish over fast-closing Pegasus Tommy D., Cornelio Velasquez up. The Linda Rice exacta box came back $26.20.
PICK SIX
Winning numbers:
3-5-6-4-6-8
Winners paid $30,529
Cons. (5 of 6) paid $352
No carryover
barclay tagg, cornelio velasquez, edgar prado, linda rice, exacta box, jose espinoza, last jump, straight victory, jerry bailey, running room, slight lead, quick money, party in the park, photo finish, backside, take the lead, strides, pegasus, castellano, majesty
Exit Villlage beach #EXIT2011
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Photo by Igor Ripak
EXIT Photo Team
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Novi Sad
Petrovaradin Fortress
music
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Rafa
Rafael Nadal - in a lighter mood during Rally for Relief Tennis match, Rod Laver Arena, Melbourne.
Check here for a better and bigger resolution.
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© 2011 Santanu Banik, All rights reserved.
This photograph may not be downloaded, reproduced, copied, edited, published, transmitted or manipulated in any way without my explicit permission. Drop me an eMail if you want to use it.
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Mount McLoughlin from Mount Scott
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Ryan Howard hit a go-ahead two-run single in the ninth inning and the Phillies rallied past the Blue Jays 7-6 yesterday spoiling Canada Day in Toronto.
Trailing 6-5 heading into the ninth against Blue Jays closer Frank Francisco, Placido Polanco led off with a walk and Chase Utley followed with a fly to left that Juan Rivera misplayed into a double, putting runners at second and third. Howard followed with a two-run single to center, giving Francisco (1-4) his fourth blown save in 13 chances.
Shane Victorino flied out and Ben Francisco doubled Howard to third before Marc Rzepczynski came on for Frank Francisco. Danys Baez (2-3) pitched one inning of relief for the win, and Antonio Bastardo closed it out.
Reuters
GAME WINNER: Ryan Howard strokes a two-run single in the ninth inning yesterday to lift the Phillies to a 7-6 victory over the Blue Jays in Toronto.
Red Sox 7, Astros 5
In Houston, Adrian Gonzalez hit a go-ahead two-run double after Dustin Pedroia drove in a pair of runs during Boston's six-run seventh inning, helping the Red Sox rally for a win over the Astros.
White Sox 6, Cubs 4
At Wrigley Field, Alexei Ramirez hit a two-run homer, and the White Sox opened their weekend series against the crosstown Cubs with a victory.
Cardinals 5, Rays 3
In St. Petersburg, Fla., Colby Rasmus hit a three-run homer during a wild eighth inning that featured four ejections, leading the Cardinals past the Rays.
Braves 4, Orioles 0
In Atlanta, Jair Jurrjens threw a one-hitter for his first career shutout, Jason Heyward ended a long home-run drought and the Braves beat the Orioles.
Nationals 2, Pirates 1
In Washington, Matt Stairs drove in the winning run in the bottom of the ninth, leading Washington over the Pirates to give interim manager Davey Johnson his first win.
Indians 8, Reds 2
In Cincinnati, Grady Sizemore hit the first of Cleveland's three homers off Bronson Arroyo, and the Indians remained perfect against the Reds.
Rangers 15, Marlins 5
In Arlington, Texas, Alexi Ogando limited the Marlins to two runs and five hits over 6 2/3 innings with a career-high eight strikeouts, ending the right-hander's personal three-game losing streak in the Rangers victory.
colby rasmus, danys baez, shane victorino, placido polanco, chase utley, bronson arroyo, jason heyward, jair jurrjens, grady sizemore, three homers, wrigley field, matt stairs, manager davey johnson, frank francisco, ryan howard, career shutout, juan rivera, 4at, adrian gonzalez, interim manager
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