By Elisabeth Thornton/Cabarrus Arts Council
Traditionally, in Concord the holiday season officially begins the third Friday in November for thousands of people as the downtown turns into a Norman Rockwell painting filled with horse-drawn carriages, Santa Claus, rosy-cheeked children and plenty of other holiday festivities. Â
kAm%96 r232CCFD pCED r@F?4:=’D pCE (2=< 2=D@ E2<6D A=246 5FC:?8 E96 6G6?:?8[ D@ 7C@> e – h A> %96 v2==6C:6D H:== 36 @A6? 7@C G:D:E@CD E@ D66 @FC ?6H 6I9:3:E:@?[ r=2J[ H9:49 762EFC6D 9F?5C65D @7 A:646D 7C@> ag }@CE9 r2C@=:?2 A@EE6CD 2?5 D4F=AE@CD] p 76H @7 E9@D6 2CE:DED H:== 36 :? %96 v2==6C:6D 2?5 C625J 7@C J@F E@ 492E E96> FA]k^Am
If you wanted to, you could knock out all of your holiday shopping during the Cabarrus Arts Council’s Art Walk. From glass ornaments to clay sculptures, all handmade and priced for all budgets. Cabarrus Arts Council Photo
kAmxE’D 2 8C62E E:>6 E@ DE2CE 2?5 >2J36 6G6? 7:?:D9 J@FC 9@=:52J D9@AA:?8] p== @7 E96 A:646D :? E96 6I9:3:E:@? 2C6 7@C D2=6[ 2?5 AC:46D C2?86 7C@> Se E@ @G6C S`[___]k^Am
People are also reading…
- Concord men charged with stealing $591K worth of electricity
- Friday Five: Dash In, Kellswater Lowe's Foods opening
- Former Hartsell School educators reunite to share memories
- Tucker Gardens Tour to benefit CVAN Saturday
- Panthers veteran may have upper hand in top position battle
- Historic Biltmore Forest estate tied to Founding Father lists for $9.75 million
- Reed Gold Mine to open Sundays this summer under pilot program
- Amazon, Corning multi-billion dollar pact to yield 1,000 jobs
- Health center’s director denies clinic harmed patients by over-prescribing opioids
- Charlotte teen charged in Concord homicide, police say
- Rider Transit seeks public input on proposed route changes
- Chicago Bears to leave Illinois for Indiana
- Cabarrus deputies take part in Special Olympics Torch Run, opening ceremony
- A ride 100 years in the making
- Friday Five: Luxury apartments, skyrocketing home prices, shagging a restaurant and summer kids program
kAm~? E96 7C@?E =2H?[ >@C6 2CE:DED H:== 36 D6E FA D6==:?8 E96:C 92?5>256 H@C<D 2D H6==]k^Am
kAmpCE (2=< :D 7C66 2?5 2G2:=23=6 E@ E96 AF3=:4 E9:D uC:52J[ }@G6>36C `e[ e – h A>] (6 9@A6 E@ D66 J@FPk^Am
kAmkDEC@?8m%wx$ (ttzk^DEC@?8mk^Am
kAmkDEC@?8mtI9:3:E:@?i k6>mr=2Jk^6>m[ ?@H U?52D9j $2EFC52J[ y2?F2CJ ae[ a_`hk^DEC@?8m DA@?D@C65 3J &H92CC:6 q2?<j uC66 2?5 @A6? E@ E96 AF3=:4] %96 v2==6C:6DUCDBF@j 9@FCDj |@?52J U?52D9j uC:52J[ h 2> U?52D9j d A>[ 5FC:?8 u2>:=J s2JD 2?5 pCE (2=<D 2?5 @?6 9@FC 367@C6 2 A6C7@C>2?46 :? E96 s2G:D %962EC6] !$}r t?6C8J :D %96 v2==6C:6D a_`g\a_`h $62D@? $A@?D@C] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mpCE (2=<– uC:52J[ }@G6>36C `e[ e – h A>jk^DEC@?8m %@FC %96 v2==6C:6D’ k6>mr=2Jk^6>m 6I9:3:E:@? 2E J@FC @H? A246 2?5 E96? DEC@== 5@H?E@H? r@?4@C5 2D 5@K6?D @7 2CE:DED D6== E96:C H@C<D 2?5 E96 EC66 =:89ED FAP %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4j DA@?D@C65 3J (2DE6 !C@j k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8ma_`g r2C@=:?2 #6?2:DD2?46 u6DE:G2= – }@G6>36C `fkDFAmE9k^DFAm 2?5 `gkDFAmE9k^DFAm `_i__ 2> \ dib_ A>]k^DEC@?8mw:DE@CJ 4@>6D 2=:G6 H:E9 ?@?\DE@A[ 52J =@?8 6?E6CE2:?>6?ED[ 2CED 2?5 4C27ED[ 82>6D 2?5 C:56D[ ;@FDE:?8 <?:89ED @? 9@CD6324<[ 762DE:?8 2?5 D@ >F49 >@C6P %:>6 EC2G6= E@ E96 8C62E6DE A2CEJ D:?46 r2>6=@EP wFKK29P tG6CJ H66<6?5 @776CD D@>6E9:?8 5:776C6?E]{@42E:@?i `eccd !@A=2C %6?E #5] wF?E6CDG:==6]!C:46i SackDEC@?8mjk^DEC@?8m k2 9C67lQ9EEADi^^4232CCFD42=6?52C]4@>^6G6?E^42C@=:?2\C6?2:DD2?46\76DE:G2=\a^a_`g\``\`g^Qm9EEADi^^4232CCFD42=6?52C]4@>^6G6?E^42C@=:?2\C6?2:DD2?46\76DE:G2=\a^a_`g\``\`g^k^2mk^Am
kAmkDEC@?8m{@EFD {:G:?8 pCED $EF5:@i $@F= ':D:@? s2?46 U2>Aj $@F?5 y@FC?6J[ }@G6>36C `fkDFAmE9k^DFAm a_`g bib_ !| \ di__ !|jk^DEC@?8m s2?46 E96 t2CE9P s2?46 E96 $<JP s2?46 J@FC $@F=P p G:D:@? BF6DE E9C@F89 D@F?5 2?5 >@G6>6?E =:<6 ?@ @E96CP x?G6DE>6?Ei Sad 42D9 @C AC6A2:5 E9C@F89 E96 E:4<6E =:?< 2E E96 E@A] (92E E@ 3C:?8i (p%t# q~%%{t[ >2E E@ =:6 5@H?[ 3=2?<6E[ A:==@H[ 2?5 2?JE9:?8 J@F ?665 E@ 36 4@>7@CE23=6[ @AE:@?2= D>2== :E6> 7@C E96 2=E2C] !=62D6[ H62C 4@>7@CE23=6 4=@E96D 2?5 =2J6CD] pCC:G6 2E =62DE `d >:? 62C=:6C E@ D6EE=6 :?] E:4<6E =:?<i k2 9C67lQ9EEADi^^D4965F=63=:DD]4@>^=@EFD=:G:?82CEDDEF5:@^nEElg_g_Qm9EEADi^^D4965F=63=:DD]4@>^=@EFD=:G:?82CEDDEF5:@^nEElg_g_k^2mkDEC@?8mjk^DEC@?8m k2 9C67lQ9EEADi^^HHH]4@?4@C55@H?E@H?]4@>^tG6?ED^tG6?Es6E2:=D^pCE|xs^eag^pCE:4=6xs^gg`^$@F=\':D:@?\s2?46\$@F?5\y@FC?6J\{@EFD\{:G:?8\pCED\$EF5:@Qm9EEADi^^HHH]4@?4@C55@H?E@H?]4@>^tG6?ED^tG6?Es6E2:=D^pCE|xs^eag^pCE:4=6xs^gg`^$@F=\':D:@?\s2?46\$@F?5\y@FC?6J\{@EFD\{:G:?8\pCED\$EF5:@k^2m k^Am
kAmkDEC@?8m}t)% (ttzk^DEC@?8mk^Am
kAmkDEC@?8m k^DEC@?8mk^Am
kAmkDEC@?8mr@?4@C5 uC66 !F3=:4 {:3C2CJi rFA42<6D 2?5 r2?G2D[ }@G6>36C a`DE eA>jk^DEC@?8m }@ AC6G:@FD 2CE 6IA6C:6?46 ?646DD2CJPU?3DAj *@F 49@@D6 2?5 EC246 E96 56D:8? J@FUCDBF@j5 =:<6 E@ A2:?E[ 2?5 H6UCDBF@j== AC@G:56 E96 >2E6C:2=D 2?5 4FA42<6D]U?3DAj tG6CJ@?6 H:== 36 23=6 E@ E2<6 9@>6 E96:C @H? >2DE6CA:646] vC256D g\`a]U?3DAj $A246 :D =:>:E65]U?3DAj #68:DEC2E:@? :D C6BF:C65]r~}%pr%i ~=:G:2 sFC2?EU?3DAj hfg\b`g\bbfhU?3DAj k2 9C67lQ>2:=E@i@5FC2?Eo>:?=:3]?6EQm@5FC2?Eo>:?=:3]?6Ek^2m {~rp%x~}i |2:? {:3C2CJ W%CFDE66 #@@>Xk2 9C67lQ9EEAi^^HHH]6G6?E<66A6C]4@>^>2CD^IA286D^r^r~}r~#s^6<A]47>n4FC~C8lr~}r~#sRdfdgbf`Qm9EEAi^^HHH]6G6?E<66A6C]4@>^>2CD^IA286D^r^r~}r~#s^6<A]47>n4FC~C8lr~}r~#sRdfdgbf`k^2mk^Am
kAmkDEC@?8m k^DEC@?8mk^Am
kAmkDEC@?8m&!r~|x}vk^DEC@?8mkDEC@?8m       k^DEC@?8mk^Am
kAmkDEC@?8m#64C62E:@?2= pCE $EF5:@i pCE$>2CE p4CJ=:4 !2:?E:?8 \ w2CCJ !@EE6C :?DA:C65 @H=] }@G6>36C agkDFAmE9k^DFAm 2?5 ahkDFAmE9k^DFAm `_ib_2>\`ai__A>jk^DEC@?8m !2CE:4:A2?ED H:== =62C? E96 5:776C6?46 36EH66? p4CJ=:4 2?5 H2E6C 4@=@C A2:?E H9:=6 A2:?E:?8 E9:D DFA6C 4FE6 w2CCJ !@EE6C :?DA:C65 @H= 2?5 5:D4FDD E96 w2CCJ !@EE6C 3@@< D6C:6D] p86 dZkDEC@?8mjk^DEC@?8m r@DEi S`d]__kDEC@?8mjk^DEC@?8m  k2 9C67lQ9EEADi^^C64C62E:@?2=2CEDEF5:@]4@>^?6H\AC@5F4ED\c^``^ahQm9EEADi^^C64C62E:@?2=2CEDEF5:@]4@>^?6H\AC@5F4ED\c^``^ahk^2mk^Am
kAmkDEC@?8m k^DEC@?8mk^Am
kAmkDEC@?8m~=5 r@FCE9@FD6 %962EC6i %96 q6DE r9C:DE>2D !2862?E tG6C \ }@G ahE9 – s64 `eE9[ a_`gk^DEC@?8m x? E9:D 9:=2C:@FD r9C:DE>2D 4=2DD:4[ 2 4@FA=6 DECF88=:?8 E@ AFE @? 2 49FC49 r9C:DE>2D A2862?E :D 72465 H:E9 42DE:?8 E96 w6C5>2? <:5D\\AC@323=J E96 >@DE :?G6?E:G6=J 2H7F= <:5D :? 9:DE@CJ] *@F H@?VE 36=:6G6 E96 >2J96> \ 2?5 E96 7F? \ H96? E96 w6C5>2?D 4@==:56 H:E9 E96 r9C:DE>2D DE@CJ 9625 @?P u@C |@C6 :?7@C>2E:@? G:D:E k2 9C67lQ9EEAi^^HHH]@4E4@?4@C5]4@>^Qm9EEAi^^HHH]@4E4@?4@C5]4@>^k^2mk^Am
kAmkDEC@?8m$:A U2>Aj $9@A – $2EFC52J[ s646>36C `[ `` 2> – g A>jk^DEC@?8m v:G6 E96 8:7E @7 }@CE9 r2C@=:?2 A@EE6CJ E9:D J62C 5FC:?8 $:A U2>Aj $9@A[ E96 r232CCFD pCED r@F?4:=’D D9@AA:?8 6G6?E :? %96 v2==6C:6D] w@E 2AA=6 4:56C H:== 36 D6CG65 F?E:= cA>[ 2?5 E96? 2 D6=64E:@? @7 H:?6D 5FC:?8 E96 6G6?:?8] %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5] u@C >@C6 :?7@C>2E:@?[ G:D:E k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mvC62E v:?86C3C625 r2?5J wF?E – s646>36C `kDFAmDEk^DFAm ``i__ p| – ai__ !|jk^DEC@?8m y@:? :? s@H?E@H? r@?4@C5 7@C 2 76DE:G6 52J @7 9@=:52J 4966CP k2 9C67lQ9EEADi^^HHH]4@?4@C55@H?E@H?]4@>^tG6?ED^w@=:52Jw2AA6?:?8DQm9EEADi^^HHH]4@?4@C55@H?E@H?]4@>^tG6?ED^w@=:52Jw2AA6?:?8Dk^2mk^Am
kAmkDEC@?8mt2DE6C? r232CCFD w:DE@C:4 $@4:6EJi r9C:DE>2D ~A6? w@FD6 \k^DEC@?8m kDEC@?8ms646>36C `kDFAmDEk^DFAm   `ai__2> \ ci__A>k^DEC@?8mkDEC@?8m[k^DEC@?8m kDEC@?8ms646>36C akDFAm?5k^DFAm  ai__ \ di__A>k^DEC@?8mkDEC@?8mjk^DEC@?8m $A@?D@C65 3J tp$%t#} rpqp##&$ wx$%~#xrp{ $~rxt%*[ 25>:DD:@? H:== 36 uC66 2?5 G:D:E@CD 42? D66 E96 24BF:D:E:@?D^5:DA=2JD E@ =62C? 23@FE 52JD 8@?6 3J]  %96 |FD6F> H:== 36 564@C2E65 7@C E96 9@=:52JD]k2 9C67lQ9EEADi^^HHH]649D>FD6F>]@C8^a_`g\D4965F=6]9E>=Qm9EEADi^^HHH]649D>FD6F>]@C8^a_`g\D4965F=6]9E>=k^2m]k^Am
kAmkDEC@?8m%96 q2C67@@E |@G6>6?E r9C:DE>2D $9@Hi $2EFC52J s646>36C `[ c U2>Aj g A>j c A> D9@Hi 25F=ED Sa_[ J@FE9 S`_j g A> D9@Hi Sb_jk^DEC@?8m q24< 3J A@AF=2C 56>2?5[ E9:D J@F?8[ 7F? 3=F68C2DD 32?5 H:== C6EFC? E@ E96 s2G:D 7@C a D9@HDP c A> D9@H :D A2CE @7 E96 r232CCFD pCED r@F?4:= u2>:=J $9@H D6C:6Di D9@HD E:>65 2?5 AC:465 H:E9 72>:=:6D :? >:?5j ed &?:@? $EC66E $@FE9[ r@?4@C5] u@C >@C6 :?7@C>2E:@?[ G:D:E k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D $A@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5]U?3DAj k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mr@@<:6D H:E9 $2?E2 – (65?6D52J[ s646>36C d[ b\e A>jk^DEC@?8m qC:?8 J@FC <:5D E@ 6?;@J 4@@<:6D H:E9 $2?E2 2E %96 v2==6C:6DP %9:D 7C66 6G6?E H:== E2<6 A=246 2E ed &?:@? $E] $@FE9[ r@?4@C5j DA@?D@C65 3J r2C@=:?2 !@CEC2:E s6D:8?D]u@C >@C6 :?7@C>2E:@?[ G:D:E k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8m|2<6CD @? }@CE9 &?:@? w@=:52J $:A 2?5 $9@Ai s646>36C hkDFAmE9k^DFAm `i__ – di__A>ik^DEC@?8m y@:? |2<6CD @? }@CE9 &?:@? 7@C 2 w@=:52J $:A U2>Aj $9@A @? $2EFC52J[ s646>36C hE9 7C@> `\dA>[ 9@DE65 3J %96 q625 {25J[ w:G6[ 2?5 $9@6q66s@Pk^Am
kAm%96C6 H:== 36 7@@5 E2DE:?8D[ =@42= 5C:?<D 2?5 8@@5:6DPk^Am
kAmr@>6 @FE 7@C 2 8@@5 E:>6 2?5 86E E92E 9@=:52J D9@AA:?8 5@?6Pk2 9C67lQ9EEADi^^4232CCFD42=6?52C]4@>^6G6?E^>2<6CD\@?\?@CE9\F?:@?\9@=:52J\D:A\2?5\D9@A^Qm9EEADi^^4232CCFD42=6?52C]4@>^6G6?E^>2<6CD\@?\?@CE9\F?:@?\9@=:52J\D:A\2?5\D9@A^k^2mk^Am
kAmkDEC@?8m~=5 r@FCE9@FD6 %962EC6 pF5:E:@?Dik^DEC@?8m kDEC@?8m%96 $A:E7:C6 vC:==k^DEC@?8m kDEC@?8m\ kDEC@?8m  k^DEC@?8mk^DEC@?8mkDEC@?8ms64 `_ \ ``[ a_`gjk^DEC@?8m p 76:DEJ A2C@=66 7@==@HD 96C 5C62>D[ 32D65 @? 2 A286 7C@> 2? @=5 EC2G6= 3@@<[ E@ 2 D>2== E@H? :? (:D4@?D:? 2?5 7:?5D 2 A=246 7@C 96CD6=7 H@C<:?8 2E w2??29VD $A:E7:C6 vC:==] xE :D 7@C D2=6 3FE E96C6 2C6 ?@ E2<6CD 7@C E96 @?=J 62E6CJ :? E96 56AC6DD65 E@H?[ D@ ?6H4@>6C !6C4J DF886DED E@ w2??29 E92E D96 C277=6 :E @77] t?ECJ 766D 2C6 @?6 9F?5C65 5@==2CD 2?5 E96 36DE 6DD2J @? H9J J@F H2?E E96 8C:== H:?D] $@@?[ >2:= :D 2CC:G:?8 3J E96 H966=32CC@H 7F== 2?5 E9:?8D 2C6 567:?:E6=J 4@@<:?V 2E E96 $A:E7:C6 vC:==] k2 9C67lQ9EEAi^^HHH]@4E4@?4@C5]4@>^Qm9EEAi^^HHH]@4E4@?4@C5]4@>^k^2mk^Am
kAmkDEC@?8mpCE {23 U?52D9j (65?6D52J[ s646>36C `h[ `_ 2>jk^DEC@?8m pCE {23 :D 2? :>>6CD:G6 2CED 6IA6C:6?46 7@C DEF56?ED E92E :?4=F56D 2 8F:565 E@FC @7 %96 v2==6C:6D 6I9:3:E:@?[ $@>6E:>6D[ 2?5 2 7F?[ 92?5D\@? 2CE 24E:G:EJ] #68:DEC2E:@? :D DF886DE65j Sdj %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $EC66E $@FE9[ r@?4@C5j k2 9C67lQ9EEADi^^4232CCFD2CED4@F?4:=]@C8^2CED\65F42E:@?^2CE\=23Qm9EEADi^^4232CCFD2CED4@F?4:=]@C8^2CED\65F42E:@?^2CE\=23k^2m]k^Am
kAmkDEC@?8m#9@?52 ':?46?E U?52D9j $2EFC52J[ y2?F2CJ `h[ a_`h[ c U2>Aj g A>j Sc_jk^DEC@?8m sF3365 E96 U=5BF@j%96 }6H "F66? @7 q=F68C2DDUC5BF@j[ ':?46?E :?4@CA@C2E6D D2GGJ 4@?E6>A@C2CJ E@F496D 2?5 2FE96?E:4 4=2DD:4 3=F68C2DD :?E@ E96:C @H? F?:BF6 D@F?5] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D $A@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mu2>:=J s2J – $2EFC52J[ y2?F2CJ ae[ ` – c A>jk^DEC@?8m |2<6 J@FC @H? 2CEH@C< 2E 4C62E:@? DE2E:@?D DAC625 E9C@F89@FE %96 v2==6C:6D] s6D:8?65 7@C AC6D49@@= E9C@F89 6=6>6?E2CJ D49@@= 286j DA@?D@C65 3J r@C?:?8] %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E] $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4] k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mu#tt \ ~A6C2 )AC6DD AC6D6?ED p qFDJ q66k^DEC@?8m U?52D9j $2EFC52J[ y2?F2CJ ae[ `ib_ A>j%96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D DA@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8m~=5 r@FCE9@FD6 %962EC6 pF5:E:@?Dik^DEC@?8m kDEC@?8m|@@?=:89E 2?5 |28?@=:2Dk^DEC@?8mkDEC@?8m  \   u63 `` \ `a[ a_`hjk^DEC@?8m `hbh w@==JH@@5 :D 23FKK] {686?52CJ AC@5F46C s2G:5 ~] $6=K?:4< 92D D9FE 5@H? AC@5F4E:@? @7 9:D ?6H 6A:4[ v@?6 H:E9 E96 (:?5[ 2 7:=> 252AE2E:@? @7 |2C82C6E |:E496==VD ?@G6=] %96 D4C66?A=2J[ J@F D66[ ;FDE 5@6D?VE H@C<] $@ H92EVD 2? 2==\A@H6C7F= >@G:6 >@8F= E@ 5@nk2 9C67lQ9EEAi^^HHH]@4E4@?4@C5]4@>^Qm9EEAi^^HHH]@4E4@?4@C5]4@>^k^2mk^Am
kAmkDEC@?8mtI9:3:E:@?i $6=64E:@?D U?52D9j %9FCD52J[ u63CF2CJ `c U?52D9j %9FCD52J[ pAC:= `gjk^DEC@?8m uC66 2?5 @A6? E@ E96 AF3=:4] %96 v2==6C:6DUCDBF@j 9@FCDj |@?52J U?52D9j uC:52J[ h 2> U?52D9j d A>[ 5FC:?8 u2>:=J s2JD 2?5 pCE (2=<D 2?5 @?6 9@FC 367@C6 2 A6C7@C>2?46 :? E96 s2G:D %962EC6j DA@?D@C65 3J E96 w:==:2C5 u2>:=J u@F?52E:@?j !$}r t?6C8J :D %96 v2==6C:6D a_`g\a_`h $62D@? $A@?D@C] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8m%96 |@56C? v6?E=6>6? U?52D9j $2EFC52J[ u63CF2CJ `e[ c U2>Aj g A>j Scdjk^DEC@?8m %96 G@:46D @7 E96 uC2?<: '2==: D9@H 7@C E96 =2DE 5@K6? J62CD[ %96 |@56C? v6?E=6>6? 4C@@? E96 8C62E D@?8D 7C@> E96 U=DBF@je_D[ U=DBF@jf_D 2?5 U=DBF@jg_D] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D $A@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mpCE (2=< – uC:52J[ u63CF2CJ aa[ e – h A>j pCE (2=< – uC:52J[ pF8FDE `f[ e – h A>jk^DEC@?8m %@FC %96 v2==6C:6D’ k6>m$6=64E:@?Dk^6>m 6I9:3:E:@? 2E J@FC @H? A246 2?5 E96? DEC@== 5@H?E@H? r@?4@C5 2D 5@K6?D @7 2CE:DED D6== E96:C H@C<D] %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4j DA@?D@C65 3J (2DE6 !C@j k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8my:> pG6EE U?52D9j uC:52J[ |2C49 `[ g A>j Sa_jk^DEC@?8m r232CCFD r@F?EJ ?2E:G6 y:> pG6EE EC2G6=D 24C@DD E96 4@F?ECJ A6C7@C>:?8 8@DA6= 2?5 4@F?ECJ[ 3FE 96 2=H2JD >2<6D E:>6 7@C s2G:D %962EC6 2F5:6?46D] %96 s2G:D %962EC6 2E E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D DA@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED]k^Am
kAmkDEC@?8m(6 q2?;@ b U?52D9j %9FCD52J[ |2C49 `c[ fib_ A>j Sbdjk^DEC@?8m pH2C5\H:??:?8 BF2CE6E 7C@> xC6=2?5 4@>3:?6D xC:D9 >FD:4 H:E9 3=F68C2DD 2?5 p>6C:42?2] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D DA@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mu2>:=J s2J – $2EFC52J[ pAC:= e[ ` – c A>jk^DEC@?8m |2<6 J@FC @H? 2CEH@C< 2E 4C62E:@? DE2E:@?D DAC625 E9C@F89@FE %96 v2==6C:6D] s6D:8?65 7@C AC6D49@@= E9C@F89 6=6>6?E2CJ D49@@= 286j %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4j DA@?D@C65 3J pEC:F> w62=E9jk2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mpCE9FC %C246i %96 pCE7F= s646:G6C U?52D9j $2EFC52J[ pAC:= e[ c U2>Aj g A>j c A> D9@Hi 25F=ED Sa_[ J@FE9 S`_j g A> D9@Hi Sb_jk^DEC@?8m pCE9FC %C246 :D 2 D=6:89E @7 92?5 >28:4:2?j %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D DA@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] ] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mpCE {23 – (65?6D52J[ pAC:= `f[ `_ 2>jk^DEC@?8m pCE {23 :D 2? :>>6CD:G6 2CED 6IA6C:6?46 7@C DEF56?ED E92E :?4=F56D 2 8F:565 E@FC @7 %96 v2==6C:6D 6I9:3:E:@?[ k6>m$6=64E:@?Dk^6>m[ 2?5 2 7F?[ 92?5D\@? 2CE 24E:G:EJ] #68:DEC2E:@? :D DF886DE65j Sdj %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8m%96 uC655J r@=6 "F2CE6E U?52D9j %F6D52J[ pAC:= b_[ fib_ A>j Sbdjk^DEC@?8m }2E U=5BF@jz:?8UC5BF@j r@=6UCDBF@jD J@F?86C 3C@E96C 42? 9@=5 9:D @H? 2?5 92D 4C62E65 9:D @H? 7@==@H:?8 :? E96 ;2KK H@C=5] %96 s2G:D %962EC6 `_kDFAmE9k^DFAm p??:G6CD2CJ $62D@? :D DA@?D@C65 3J t>32DDJ $F:E6D r92C=@EE6\r@?4@C5] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m 7@C E:4<6ED] r232CCFD pCED r@F?4:=[ ed &?:@? $E] $[ r@?4@C5[ }r]k^Am
kAmkDEC@?8mtI9:3:E:@?i ~? !2A6C U?52D9j %9FCD52J[ |2J `e U?52D9j uC:52J[ yF=J aejk^DEC@?8m uC66 2?5 @A6? E@ E96 AF3=:4] %96 v2==6C:6DUCDBF@j 9@FCDj |@?52J U?52D9j uC:52J[ h 2> U?52D9j d A>[ 5FC:?8 u2>:=J s2JD 2?5 pCE (2=<D 2?5 @?6 9@FC 367@C6 2 A6C7@C>2?46 :? E96 s2G:D %962EC6] $A@?D@C65 3J E96 w:==:2C5 u2>:=J u@F?52E:@?j !$}r t?6C8J :D %96 v2==6C:6D a_`g\a_`h $62D@? $A@?D@C] k2 9C67lQ9EEAi^^r232CCFD2CED4@F?4:=]@C8Qmr232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mqC62<72DE 7@C E96 pCED – uC:52J[ |2J `f[ fib_ 2>jk^DEC@?8m %96 qC62<72DE 7@C E96 pCED 7F?5C2:D6C D6CG6D FA 49:=5C6?’D A6C7@C>2?46D 2?5 :?DA:C2E:@?2= DA62<6CD E@ D9@H E96 :>A24E @7 E96 2CED @? @FC 4@>>F?:EJj #6D6CG2E:@?D 2C6 C6BF:C65 7@C E9:D 7C66 6G6?Ej 6>2:= k2 9C67lQ>2:=E@i}2E2D92o4232CCFD2CED4@F?4:=]@C8Qm}2E2D92o4232CCFD2CED4@F?4:=]@C8k^2m @C 42== E96 r232CCFD pCED r@F?4:= 2E f_c\ha_\afdb]k^Am
kAmkDEC@?8mpCE (2=< – uC:52J[ |2J b`[ e – h A>jk^DEC@?8m %@FC %96 v2==6C:6D’ k6>m~? !2A6Ck^6>m 6I9:3:E:@? 2E J@FC @H? A246 2?5 E96? DEC@== 5@H?E@H? r@?4@C5 2D 5@K6?D @7 2CE:DED D6== E96:C H@C<D] %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4j DA@?D@C65 3J (2DE6 !C@j  k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mpCE {23 – (65?6D52J[ yF?6 `a[ `_ 2>j pCEk^DEC@?8m {23 :D 2? :>>6CD:G6 2CED 6IA6C:6?46 7@C DEF56?ED E92E :?4=F56D 2 8F:565 E@FC @7 %96 v2==6C:6D 6I9:3:E:@?[ k6>m~? !2A6C[k^6>m 2?5 2 7F?[ 92?5D\@? 2CE 24E:G:EJ] #68:DEC2E:@? :D DF886DE65j Sdj %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8mu2>:=J s2J – $2EFC52J[ yF?6 aa[ ` – c A>jk^DEC@?8m |2<6 J@FC @H? 2CEH@C< 2E 4C62E:@? DE2E:@?D DAC625 E9C@F89@FE %96 v2==6C:6D] s6D:8?65 7@C AC6D49@@= E9C@F89 6=6>6?E2CJ D49@@= 286j %96 v2==6C:6D @7 E96 r232CCFD pCED r@F?4:=[ ed &?:@? $E][ $@FE9[ r@?4@C5j uC66 2?5 @A6? E@ E96 AF3=:4] k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8m~}v~x}vk^DEC@?8mk^Am
kAmkDEC@?8mpCE q@I –k^DEC@?8m q@I6D 7F== @7 2CE >2E6C:2=D 2?5 :?DECF4E:@?D AC@G:56 8F:565 2CE AC@;64ED 7@C 49:=5C6? @7 2== 286D H96? E96J G:D:E %96 v2==6C:6D] %96 AC@;64ED C6=2E6 E@ E96 4FCC6?E 6I9:3:E:@?[ 2?5 E96 2CEH@C< 42? 36 >256 C:89E 96C6 :? %96 v2==6C:6D[ @? E96 7C@?E DE6AD[ @C @FED:56 @? E96 =2H?] w6=5 5FC:?8 6I9:3:E:@?D 52E6D @?=J]k^Am
kAmkDEC@?8mx $AJ $42G6?86C wF?E –k^DEC@?8m v6E 2 D42G6?86C =:DE 2E E96 7C@?E 56D<[ E96? D62C49 E96 2CE :? %96 v2==6C:6D 7@C 6G6CJE9:?8 @? :E] xE’D 2 7F? 82>6 7@C 2== 286D[ 2?5 2 8C62E H2J E@ A:4< FA E96 56E2:=D @7 2CEH@C<] w6=5 5FC:?8 6I9:3:E:@?D 52E6D @?=J]k^Am
kAmtI9:3:E:@?Di r=2J – %9FCD52J[ }@G6>36C g – $2EFC52J[ y2?F2CJ ae[ a_`hjk^Am
kAm$6=64E:@?D – %9FCD52J[ u63CF2CJ `c – %9FCD52J[ pAC:= `gj ~? !2A6C – %9FCD52J[ |2J `e – uC:52J[ yF=J ae]k^Am
kAmkDEC@?8m k^DEC@?8mk^Am
kAmkDEC@?8m%9:?< 23@FE :E –k^DEC@?8m ~FC 8F:565 BF6DE:@??2:C6 :D 7F== @7 4@=@C7F= A:4EFC6D @7 2CEH@C< 244@>A2?:65 3J 4@?G6CD2E:@? DE2CE6CD DF49 2D[ Q(92E BF6DE:@?D H@F=5 J@F 2D< E9:D 2CE:DE :7 96 @C D96 H6C6 96C6 C:89E ?@HnQ %9:D 24E:G:EJ :D 8C62E 7@C 2?J@?6 H9@ H2?ED E@ 6I2>:?6 2CEH@C<D :? 2 ?6H H2J] w6=5 5FC:?8 6I9:3:E:@?D 52E6D @?=J]k^Am
kAm |@?\uC:[ h 2> – d A>[ p== 286D[ uC66kDEC@?8m]k^DEC@?8m r232CCFD pCED r@F?4:=[ ed &?:@? $EC66E $[ r@?4@C5[ }r[ k2 9C67lQ9EEAi^^HHH]4232CCFD2CED4@F?4:=]@C8^QmHHH]4232CCFD2CED4@F?4:=]@C8k^2m]k^Am
kAmkDEC@?8m{JC:4D U2>Aj {2F89D – u:CDE U2>Aj %9:C5 %F6D52J @7 6249 >@?E9[ ` – a A>jk^DEC@?8m r@>6 D:E 2C@F?5[ D:?8 J@FC 962CE @FE 2?5 D>:=6 2=@?8 E96 H2J] $6?:@C r6?E6C[ bb` r@C32? pG6[ r@?4@C5j k2 9C67lQ9EEAi^^HHH]4232CCFD4@F?EJ]FD^QmHHH]4232CCFD4@F?EJ]FDk^2m 7@C >@C6 :?7@C>2E:@?]k^Am
kAmkDEC@?8muC:52J }:89E s2?46 – eib_ A>k^DEC@?8mj t249 uC:52J @7 E96 >@?E9 E96C6 H:== 36 2 =:G6 32?5 2E E96 $6?:@C r6?E6C \ r@?4@C5] Sd^A6CD@?j S`^4@?46DD:@?j $6?:@C r6?E6C[ bb` r@C32? pG6[ r@?4@C5j k2 9C67lQ9EEAi^^HHH]4232CCFD4@F?EJ]FD^QmHHH]4232CCFD4@F?EJ]FDk^2m 7@C >@C6 :?7@C>2E:@?]k^Am
kAmkDEC@?8m'@:46 2?5 !6C7@C>2?46 {6DD@?Dk^DEC@?8m –%62496C 2?5 AC@76DD:@?2= D:?86C^A6C7@C>6C s2?:6= %CF9:EE6[ 7C@> k6>m%96 $@F?5 @7 |FD:4k^6>m 72>6j 2G2:=23=6 7@C DEF56?ED @7 2== 286D 2?5 D<:== =6G6=Dj :562= 7@C E9@D6 :?E6C6DE65 :? D:?8:?8 AC@76DD:@?2==J[ 7@C D49@@= 2?5 49FC49 A6C7@C>2?46D[ @C ;FDE 7@C 7F?j 7@C >@C6 :?7@C>2E:@?[ 6>2:= k2 9C67lQ>2:=E@i52?:6=ECF9:EE6o8>2:=]4@>Qm52?:6=ECF9:EE6o8>2:=]4@>k^2m @C 42== f_c\fh`\h`__]k^Am
kAmkDEC@?8m~A6? |:4 }:89E^{:G6 |FD:4 –k^DEC@?8m t?;@J @A6? >:4 ?:89E 6G6CJ (65?6D52J[ 2?5 =:G6 >FD:4 6G6CJ uC:52J 2?5 $2EFC52J 2E {:=’ #@36CE’D !=246 %2AD[ ad &?:@? $EC66E $@FE9[ s@H?E@H? r@?4@C5] uC66] k2 9C67lQ9EEAi^^HHH]72463@@<]4@>^{:=#@36CED!=246QmHHH]72463@@<]4@>^{:=#@36CED!=246k^2m]k^Am
kA 4=2DDlQ7@?EfQmkDEC@?8mp4E@CD @7 %@>@CC@Hk^DEC@?8m U?52D9j 2 ?@?\AC@7:E 49:=5C6?UCDBF@jD E962EC6 @C82?:K2E:@? 7@C J@FE9 @7 2?J E962EC6 6IA6C:6?46[ e_`a q2J7:6=5 !2C<H2J[ $E6] bf_[ r@?4@C5[ }r ag_af] u@C >@C6 :?7@C>2E:@?[ G:D:E k2 9C67lQ9EEAi^^24E@CD@7E@>@CC@H]@C8Qm24E@CD@7E@>@CC@H]@C8k^2m]k^Am
kAmkDEC@?8mpCE:DE ~AA@CEF?:EJ –k^DEC@?8m z2??2A@=:D pCED @C82?:K6D C@E2E:?8 6I9:3:E:@?D @7 =@42= 2CEH@C< :? DE@C6 H:?5@HD :? z2??2A@=:D] r@?E24E k2 9C67lQ9EEAi^^><?@I2E>@56C?7:=>K:?6]4@>^Qm><?@I2E>@56C?7:=>K:?6]4@>k^2m 7@C >@C6 :?7@C>2E:@?]k^Am
kAmkDEC@?8mpCE r=2DD6D 2E qC6?52’D pCE $EF5:@ – |@?52JD[ %F6D52JD @C %9FCD52JD –k^DEC@?8m *@FE9 4=2DD6D[ cib_\eib_ A]>] p4E:G:E:6D :?4=F56 5C2H:?8[ A2:?E:?8[ 4@==286[ A@EE6CJ 2?5 D4F=AEFC6] p5F=E 4=2DD6D[ e\g A]>] p4E:G:E:6D :?4=F56 5C2H:?8[ A2:?E:?8[ A@EE6CJ @C D4F=AEFC6] u@C >@C6 :?7@C>2E:@?[ 42== qC6?52 w2C5:? 2E f_c\fge\gdf_[ @C 6>2:= k2 9C67lQ>2:=E@iqC6?5292C5:?`oH:?5DEC62>]?6EQmqC6?5292C5:?`oH:?5DEC62>]?6Ek^2m]k^Am
kAmkDEC@?8mpCE:DE s6>@?DEC2E:@?D 2?5 ~A6? $EF5:@D –k^DEC@?8m r=62C(2E6C’D v2==6CJ :D @A6? (65?6D52J –uC:52J[ }@@?\dA>[ 6G6CJ akDFAm?5k^DFAm $2EFC52J[ `_ 2]>] – c A]>] @C 3J 2AA@:?E>6?E] %96 r=62C(2E6C v2==6CJ[ aab rC@H6== sC:G6 }([ r@?4@C5] uC66 2?5 @A6? E@ E96 AF3=:4]  u@C >@C6 :?7@C>2E:@?[ G:D:E k2 9C67lQ9EEAi^^HHH]4=62CH2E6C2CE:DED]4@>^Qm4=62CH2E6C2CE:DED]4@>k^2m @C 42== f_c\fgc\hdbd]k^Am
kA 4=2DDlQ5672F=EQmkDEC@?8mrC62E:G6 r@??64E:@?D –k^DEC@?8m p?6H 8C@FA >62?E E@ 3C:?8 E@86E96C 2== E96 2CED 2?5 4F=EFC6 25G@42E6D :? @FC 4@>>F?:EJ E@ 5:D4@G6C H9@ :D 96C6 E@ H@C< H:E9 2?5 3F:=5 @FC 4C62E:G6 4@>>F?:EJ :? r232CCFD r@F?EJj @A6? E@ 2== 2CE:DED[ 7C@> 36==J 52?46CD E@ HC:E6CD[ ;F88=6CD E@ BF:=E6CD[ 2CE 6G6?E @C82?:K6CD H6=4@>6 2D H6==j u@C >@C6 :?7@C>2E:@? 23@FE E96 ?6IE >66E:?8[ G:D:E k2 9C67lQ9EEAi^^HHH]72463@@<]4@>^rC62E:G6r@??64E:@?Dr232CCFD^QmHHH]72463@@<]4@>^rC62E:G6r@??64E:@?Dr232CCFD^k^2mk^Am
kAmkDEC@?8m$@FE96C? !:65>@?E (@@5EFC?6CD – bkDFAmC5k^DFAm %F6D52J 6G6?:?8 >@?E9=J –k^DEC@?8m |@?E9=J 56>@?DEC2E:@?D[ "U2>Ajp $6DD:@?D[ 2?5 D@>6E:>6D 92?5D\@? @AA@CEF?:E:6D E@ ECJ ?6H E649?:BF6D] p?J@?6 :?E6C6DE65 :? H@@5 EFC?:?8 :D H6=4@>6 E@ G:D:E 2?5 ;@:?j aab rC@H6== $E[ r@?4@C5 2E r=62CH2E6C pCE:DE $EF5:@Dj k2 9C67lQ9EEAi^^HHH]DAH@@5EFC?6CD]4@>^Qm9EEAi^^HHH]DAH@@5EFC?6CD]4@>k^2mk^Am
kAmk6>m%96 r232CCFD pCED r@F?4:= 4@?EC:3FE6D %96 pCED 2?5 t?E6CE2:?>6?E 4@=F>?[ H9:49 9:89=:89ED E96 2CED :? r232CCFD r@F?EJ[ E@ E96 x?56A6?56?E %C:3F?6 6249 (65?6D52J] U?3DAj!=62D6 FD6 E96 4@?E24E :?7@C>2E:@? AC@G:565 E@ 4@?7:C> E96 56E2:=D @7 6G6?ED]U?3DAj x7 J@F H@F=5 =:<6 J@FC 2CED :?7@C>2E:@? E@ 36 4@?D:56C65 7@C :?4=FD:@?[ A=62D6 6>2:= t=:D236E9 %9@C?E@? 2E k2 9C67lQ>2:=E@i6=:D236E9o4232CCFD2CED4@F?4:=]@C8Qm6=:D236E9o4232CCFD2CED4@F?4:=]@C8k^2m]k^6>mk^Am
