>cifb5@ rs zo65g9 rs 75a6f5= - freea3ba103.free.fr/flash/flash_103_081.pdf · hs5
TRANSCRIPT
@; \l\ j rrrrCrr >?Mg;LHCrrW/5 ; 0/ LO? >?M ;HA?M
9<B , D I? J?L? ?H adb I?JOCM .521
897CF5H=CB GHM@97CBH9ADCF5=B
89G=;B01*03 LO? PC?CFF?JICMMIHH?LC?
/ ( 1 LO? >?M GIOFCH?;ORN?F7 13 * /2 * .0 13 * / 3 * 4.
J5@9B7=9BB9G
Hs5. <=J9F'DF=BH9ADG
2 @
:@5G< *),X]c`\OZRS ZO
65G9 5kF=9BB97CAA5B85BH
F9Bk ACI7<CHH9
>`i\Zk\li[\ cX
JlYc`ZXk`feF`\lk\eXek*=fcfe\c <ICNN?
<^[\ Z[ hyZWYj_ed
<Wf_jW_d[ ;:R>K>
<edjWYji WddedY[khi
>HK =>M:FF:><D>K
M[nj[i
Nd_jyi Z[ bW ;: -,/
K[fehjW][i f^eje]hWf^_gk[i
L[hl_Y[ I^eje ;Wi[
<ehh[ifedZWdY[ ( ;*: -,/
H\\_Y_[h WZ`e_dj ) 15/0- <:A;K:B):BK
Myb* $.3% 4/*45*23 ) Ieij[ ./*-,
Bcfh[ii_ed
:j[b_[h e\\i[j ;: -,/
G][[OW`SI:@>L
M:;E>:N =#AHGG>NK .
/
0)1)2
4)5)-,)--
-.
-/
-0)-1
-2
-3
-4)-5
.,).-
E> FHM =N <HEHG>E
?E:LA :<MN:EBM>L
L>E><MBHG IAHMHL
:=B>N E#:FB
E> FHM => E#:NFHGB>K
><AHL =N <BF
E>L <HGG:BLL>S)OHNL
FNMN>EE> BG?H
E> I:KMB<NEB>K ;*: -,/
LIHKML
GH>E 6 NG P>>D)>G= <HFF> E>L :NMK>L ..
E#ABLMHBK> =N <:F;K>LBL -0
.2
-2
.4).5
/,
/-)/.
E> <HBG =N @:LMKHGHF>
>E><MK#H=> : NG >Q
L*K*>*
L*K*A*
<:KG>M
;Yfee\d\ek HfidXc gfli 1 eldvifj7 /- @* >\ Mflk`\e7 2- @F`Y\ccvl c$fi[i\ [\ 7M]=IL?MNBI /
; ]X`i\ gXim\e`i l5 G+ c$I]]`Z`\i ;[af`ek * <+;+ .-0 * 2601. * =;G<L;C*;CL
E_[kj[dWdj)Yebed[b K:RG:E @ko
<eccWdZWdj O>KHG :bW_d
>< ,,+,-.
>< ,.+,-.
H56@95I 8"<CBB9IFGHFBG:MBHG =:GL E#HK=K> G:MBHG:E =N F>KBM>
:N @K:=> => <A>O:EB>K :GG>> -54/
<eccWdZWdj E:G=>M ;[hdWhZ >< ,,+,-.
<eccWdZWdj =>E<HNKM IWjh_Y[ >< ,,+,-.#
<edkdWdZWdj E> <HKK> Ck b_[d @>KFWL -1+,-.
<eccWdZWdj @NR:=>K C[Wd FLI .,+-,/
<eccWdZWdj O>K=:EE> C[Wd <bWkZ[ F@n 0,+-,/
K>FBL> => E: F>=:BEE> FBEBM:BK>
:Z`kZWdj)Y^[\ LHMB>K> CWYgk[i
:Z`kZWdj)Y^[\ <:N=KHG K[dy
:Z`kZWdj)Y^[\ =>@NBG>L C[Wd
@>KFWL -1+,-.
>< ,.+,-.
<; ,,+-,/
:MMKB;NMBHG => E: <KHBQ => E: O:E>NK FBEBM:BK> :O>< >MHBE> => ;KHGS>
K>FBL> => E: F>=:BEE> => E: =>?>GL> G:MBHG:E>
F>=:BEE> =#HK
:Z`kZWdj =NINBL :bW_d @>KFW< -2+-,/ $/%
F>=:BEE> => ;KHGS>
<G> K:F:=> F_Y^[b >< ,.+,-. %.& L@M L:G@GB>K E_ed[b >I .-+-,/ $.%
EMM L:EO:KH#@k_Ze >I .-+-,/ $.% L@M M>FF>KF:G Ke][h >I .-+-,/ $.%
:LI @K:G= =Wl_Z >I .-+-,/ $.% L@M =KHF;BL> I^_b_ff[ >I .-+-,/ $.s%:=< AN;>KM :dZhy >I .-+-,/ $.% L@M IKN=>GS:GH Rl[i >I .-+-,/ $.%:=C ;B:BL ;[hdWhZ LLBL ./+-,/ $/% L@M ;>KMBG C[Wd FWhY >I .-+-,/ #$.%:=C F:KBG @yhWhZ FH ,1+-,/ %1& L@M <:MM>S ?hWdwe_i >I .-+-,/ $.%
:=C <K>IB>NQ @Wijed FM -,+-,/ %1& L@M E>O:GM C[Wd EkY >I .-+-,/ $.%
:=C EBF>L C[Wd LLBL ./+-,/ $/% L@M FBG:K= :hdWkZ >I .-+-,/ $.%
L@< F>A:NQ >h_Y >I .-+-,/ $.% <E< I:LL>G>:N I_[hh[ >I .-+-,/ $.%
L@< <H@NB< CWYgk[i >I .-+-,/ $.% <E< =>E>L:EE> C* ?hWdwe_i >I .-+-,/ $.%
L@< <:KHG ?hyZyh_Ya >I .-+ -,/ $.% <E< =BHGG>M IWiYWb >I .-+-,/ $.%
L@M O:G=:>E> FWhY >I .-+-,/ $.% <E< <:KEB>K >ZcedZ LLBL ./+-,/ $/%
L@M E>L:NQ C[Wd Ge{b >I .-+-,/ $.% <E< A>GKR =ec_d_gk[ L: /,+-,/ $0%
L@M OB;>KM EWkh[dj >I .-+-,/ $.% <E< @HLL>M @[eh][i >I .-+-,/ $.%
L@M <A:GMK>EE> F_Y^[b >I .-+-,/ $.% <:E ;B@HM FWhY >I .-+-,/ $.%
L@M E:NK>G<HG :bW_d >I .-+-,/ $.% <:E <:OKH M^_[hho >I .-+-,/ $.%
L@M FBMM>K:G= ;hkde >I .-+-,/ $.% <:E LREO>LMKB ?hWdY[iYe >I .-+-,/ $.%
L@M =NFHKMB>K C[Wd EkY >I .-+-,/ $.% :O- FbD:>EB:G @ko >I .-+-,/ $.%
L@M A>NQ A[hly FH ,1+-,/ $0% :OB KB@:E :bW_d >I .-+-,/ $.%
L@M =><:@GR M^_[hho >I .-+-,/ $.% :O- <HMMK>S @ko FLI .,+-,/ $/%
L@M ENLL>:N <bWkZ[ >I .-+-,/ $.% :O- JN:@G>:NQ ?hWdwe_i LLBL ./+-,/ $/%
L@M I>SBG C[Wd)FWhY >I .-+-,/ $.% :O- ;H==:>KM ?hWdwe_i LLBL ./+-,/ $/%
L@M F:I>EE: <^h_ij_Wd LLBL ./+-,/ $/% :OM FHG<A><HNKM IWiYWb >I .-+-,/ $.%
L@M IKB@>GM :dZhy >I .-+-,/ $.% :OM ;>NEJN>L G_YebWi >I .-+-,/ $.%
:]hW\[
$-% =y\[di[ Wyh_[dd[$.% ) ?ki_b_[h YeccWdZe Z[ b#W_h$/% ) :hcy[ Z[ b#W_h
#,$ & AWaaW]\ OaaWabO\QS [njrh_[kh[
-
,!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!0
@9ACH 8I 7C@CB9@
7<2C9 U?*
Gekl[bb[ ygk_f[
Gekl[Wkn Whj_Yb[i
Gekl[bb[ \ehc[
6cb e ObbSW\R`S
Nd `ekhdWb Z#WYjkWb_jy( gk_ hWYedj[
\hygk[cc[dj dejh[ l_[ Yebb[Yj_l[( ikh bW ;Wi[*
Geki bk_ fWhZedd[hedi
kd[ ce_di X[bb[ fhyi[djWj_ed(
iehj[ l b#^[kh[
yl[djk[bb[c[dj
fekhlk gk#_b
r))))))))))))))))))))))))))))))))))))))))))))))))))))))
.
, (
, :@5G< 57HI5@=H9
G97CIF=GA9 GIF @5 6'5 )(+ 6=@5B 0+ DCG=H=:
GSQ]c`W` a]\ ^`]QVOW\ \"Sab ^Zca c\
OQbS RS 7)JZa[S ^c`% [OZG c\S \pQSaaWbp dW&
bOZS TOQS Oce `Wa_cSa OQbcSZa RS ZO dWS []&
RS`\S 2 OQQWRS\ba RS ZO QW`QcZObW]\% Rc b`O&
dOWZ% OQQWRS\ba RS Z]WaW`a'
KyY[cc[dj ZWdi b[ YWZh[ Z[i Xedd[i
`SZObW]\a !5`[pSa&BObW]\ZZ
& S\ ^`paS\QS RSa
QVSTa RS []fS\a% Q][[O\RO\ba R"c\Wbpa% RSa
^S`a]\\SZa Rc GS`dWQS [pRWQOZ Sb Rc aS`dWQS
RS apQc`Wbp W\QS\RWS aOcdSbOUS% ZS 7]Z]\SZ
rrMAB>N( YeccWdZWdj bW ;Wi[( h[jhWwW bW bed)
]k[ [j Xh_bbWdj[ YWhh_xh[ Zk <eccWdZWdj
A>KE>F( Y^[\ Zk Yehfi Z[i iWf[khi)fecf_[hi
Z[ bW l_bb[ Z[ <:F;K:B( b[ h[c[hY_W fekh iW
b`oa ZO`US Q]]^p`ObW]\ Sb a]\ aS\a b`pa Rp&
l[beffy Z[i YedjWYji ^kcW_di*
@O 6OaS Op`WS\\S )(+ !FS\p B]cQV]bbSZZ
Sb e b`OdS`a SZZS Z"5`[pS RS Z"OW`% Q]\aQWS\&
bS RS aO ^`]^`S [WaaW]\ Oaac`S OcaaW c\ `sZS
pRcQObWT RO\a Z"S\aSWU\S[S\b ^S`[O\S\b Rc
aSQ]c`Wa[S'
@"5`[pS RS Z"OW` Sab ZO ^`S[ZS`S ea]cVOWbS` _cS QSb S\aSWU\S[S\b aS RpdSZ]^^S
^]c` ZO apQc`Wbp Sb ZS PWS\ qb`S RS b]ca'
Bb ik\\_j Z[ i[ hWff[b[h [d Z[hd_xh[
ZWj[( b#_dY[dZ_[ Z[ b#A2if_Y[ Z[i l_[_bbWhZi
Z[ O:G=>K;NK<A e~( fecf_[hi( cyZ[Y_di( _d\_h)
[WS`a QWdWZa Sb [WZWbOW`Sa% ^S`a]\\Sa Pp\p&
d]ZSa% ZcbbOWS\b Oc Q]cRS e Q]cRS% RO\a c\
[q[S pZO\% ^]c` c\ [q[S Pcb 2 aOcdS` RSa
dWSa Vc[OW\Sa'
@Sa Q]c`a a]\b OQbcSZZS[S\b RWa^S\apa
fWh b[ L[hl_Y[ cyZ_YWb Z[ bW XWi[ Wl[Y b[
Q]\Q]c`a RS b`]Wa []\WbSc`a \ObW]\Oce' 8Sa
`S^`paS\bO\ba RSa RWTTp`S\ba Q]`^a RS aO^Sc`a
^][^WS`a RS ZO `pUW]\ Rc 7O[P`paWa Q]\abW&
jk[dj b[i `kho*=Z a"OR`SaaO S\acWbS Oc 7O^WbOW\S
@98I7% acQQSaaSc` Rc Q][[O\RO\b% ^]c` ZcW
Se^`W[S` ZSa a]cVOWba RS PWS\dS\cS':k j_jh[ Z[ b#Wddy[ -54/( 05/ Xh[l[ji
\ObW]\Oce RS aSQ]c`Wa[S% =Z P`SdSba RO\a [h
a^pQWOZWbp S\ `pO\W[ObW]\ ]\b pbp Obb`WPcpa
e RSa O^^SZpa Rc Q]\bW\US\b OW\aW _c"l RSa
QOR`Sa R"OQbWdS'
: ied jekh( b[ <eccWdZWdj A>KE>F
W j[dk l iekb_]d[h b[i [nY[bb[dji hWffehji
Wl[Y bW XWi[* Bb [d fhe\_jW fekh h[c[jjh[
bW cyZW_bb[ Z#^edd[kh Z[ b#Nd_ed ZyfWhj[)
[S\bOZS RSa aO^Sc`a&^][^WS`a Rc Rp^O`bS&
c[dj Zk GehZ Wk E_[kj[dWdj =N;KNEE>( Y^[\
Z[i iWf[khi)fecf_[hi Z[ bW XWi[*
@]`a RS ZO ^`]QZO[ObW]\ RSa `pacZbOba
RS ZO aSaaW]\ RS aSQ]c`Wa[S _cW a"Sab Rp`]c&
by[ Wk fhe\_j Zk Yedj_d][dj 4/+-.( 4, i[Yek)
`WabSa R]\b *( QOR`Sa a]\b dS\ca a"OX]cbS`
Wkn Y^_\\h[i Zy`u WddedYyi*D]c` QZsbc`S` QSbbS `pc\W]\ O[WQOZS%
c\ RpXSc\S` Tcb aS`dW Oc [Saa ]TTWQWS`a'
@S 7][^b]W` ;q\q`OZ RSa DSW\bc`Sa& ;`]aaWabS Oc aS`dWQSRSa ^`]TSaaW]\\SZa&
Sb RSa S\b`S^`WaSa RS^cWa+) O\a& [Sb e d]b`S RWa^]aWbW]\3
s 8Sa ^`]RcWbaRS _cOZWbq
#DSW\bc`Sa3O\bW`]cWZZSa&b]Wbc`SaSb PobW[S\ba4 DO^WS`a^SW\ba&A]_cSbbSa$&
s G]\ GS`dWQS7][[S`QWOZ
#5QQcSWZ&7]\aSWZ&@Wd`OWa]\$
Q][^b]W` Uq\q`OZ RSa ^SW\bc`Sa_UY]cdaUbUc UJ[dYRNTZXW\Y [U Kc[RUNV[ Uc T!RVM\Z[YRN
7O[P`OW Hl@( %/4& 5.+/1+60
1
:9@=7=H5H=CBG
E#:l_Wj[kh ?B<HM IWiYWb W yjy Y_jy [d
[n[cfb[ fekh Wle_h( b[ ./ del[cXh[ -54/( feh)
]g W[[pRWObS[S\b aSQ]c`a n c\ ^Wpb]\' dWQbW[S
Z#kd WYY_Z[dj Z[ bW Y_hYkbWj_ed l =HN:B*
HWbcZOW`S Rc 6`SdSb \ObW]\OZ RS aSQ]c&
`Wa[S WZacb&^`]RWUcS` ZSa ^`S[WS`a a]W\a S\
ObbS\RO\b Z"O``WdpS RSa D][^WS`a Rc 7S\b`S RS
=HN:B*
E[ <eccWdZWdj @NR:=>K
Y^[\ Z[i FLI .,+-,/
[ ]"Q _^b T"\Q[XUda bY]b _Qac R^]XUda)1CE >JKG:J =>D:C?>LIJ:EJ LE>G:IK =>;FE?>LI#
Sr[^S @C75H=CBPf`kli\j+ ZXd`fee\kk\j+ ZXd`fej++&`cS @(6Zq`W]bh75A 6F5=
HqZ(1*(,,(1. '''
_^da VTP^K̀W
=;G<L;C+ P;F?H=C?HH?M+ FCFF?
>IO;C+ <IOFIAH? +=;F;CM+
6F=7C@5;9 A5=GCB Sb !5F8=B9EI=D9A9BH 8I :CM9F
9@97HFC'A 9B5;9F
0
, 5=F9L -+J
7][[S QVO_cS O\\pS% ZO 6OaS Wyh_[ddrs
W lyYk Zk -5 Wk /, cWhi -540 kd[ fyh_eZ[ _d)
bS\aS R"SeS`QWQSa `SU`]c^pa a]ca ZS \C[ RS
#:BK>Q 40! $[n[hY_Y[i :hcy[ Z[ b#W_h 40%*
:BK>Q 40 yjW_j Z[ij_dy l j[ij[h [j
Wcyb_eh[h b#Wfj_jkZ[ Z[ jekj[i b[i kd_jyi Z[
ZO POaS% TOQS n RSa aWbcObW]\a Q`WbW_cSa
ZWdi kd Yedj[nj[ Zy]hWZy i_]d_\_YWj_\ Zk
j[cfi Z[ Yh_i[ ek Z[ ]k[hh[*
=yi b[ -5 cWhi -540 l ,, A /=( bW
6OaS Op`WS\\S pbOWb S\ STTS`dSaQS\QS' I\
`O[OaaOUS RSa ^S`a]\\SZa pbOWb ]`R]\\p' @S
I*< [j b[i Y[bbkb[i be]_ij_gk[i yjW_[dj Whcyi
[j WYj_lyi* ;h[\ >d f[k Z[ j[cfi( b[i kd_)
bpa pbOWS\b ^`qbSa n `pOUW` Oce W\QWRS\ba
!9eS`QWQSa! `pSZa ]c TWQbWTa RSa Q][[O\RS&
VPW]\&
Leki b#Wkjeh_jy Zk Y^[\ Z[i A*M
-,+-,/( b[ I< be]_ij_gk[( WYj_ly .0 ^[kh[i
ikh .0( hyW]_iiW_j Wkfhxi Z[i Y[bbkb[i be)
UWabW_cSa RSa c\Wbpa ^]c` aObWaTOW`S Oce
SeWUS\QSa RpQ]cZO\b RSa [WaaW]\a ]`R]\\pSa
]c RSa W\QWRS\ba W\XSQbpa'
DS\RO\b ZO [O\]Scd`S% S\b`S ZSa ^S`&
a]\\SZa Oce OP`Wa% RS UcSb n dcS% Oce [Wb`OWZ&
b[ki[i -.(3 cc( Z[ h[d\ehj Z[ ]WhZ[( Y^Wgk[
c\Wbp Oaac`OWb aO [WaaW]\ OdSQ ZO ^O`b W[^]`&
jWdj[ Zeddy[ l !:BK>Q 40!*
I\ pZp[S\b \]cdSOc QSbbS O\\pS% WZ
i#W]_j Z[ bW Zy]hWZWj_ed \_Yj_l[ Z[i i[hl_Y[i
RS Z"9aQOR`]\ RS `OdWbOWZZS[S\b bSQV\W_cS
Wl[Y bW fhyi[dY[ Z#kd eXi[hlWj[kh Z[ bW =<F::*
7SbbS [Sac`S TWQbWdS a"Sab b]cb RS [q[S OQ&
YecfW]dy[ Z[ bW c_i[ [d fbWY[ Z#[dl_hed -,,,
feij[i Z[ cWjyh_[b*
E[ /, cWhi -540( l -0 ^ =H( kd Yh_
Z[ `e_[ EW ]k[hh[ [ij \_d_[ # IWhZed Bb
i#W]_j Z#:BK>Q 40 Geki Wledi $fWhW_j)_b%
UOU\p% ZO 6OaS Op`WS\\S )(+ Sab ZO [SWZZSc`S%
Q][[S b]cX]c`a R"OWZZSc`a
06872 134698327
@:6BB6 <d@:>62 Sb **& `cS GORW' 7O`\]b& 42=3B2:
1
=_\q mflj)Qd ZX]v)
I'[a` `` '+ (( rr+++) ( )(W;$ W +*W7(((( h ) . r976" P P '3 ;Y !3!f5555++ rr +++5h r+r+r9++7+ +++*(( ( (7(((($99$r rr97$
**+)+! + Wnz+++) +++uuu uuu+ +(( ( ( +*** +
`
9"! )****P)) ))P(P))) )))P(((( (((((( (((((((( ****$r+r ++++)uuu uuuuuu u••uuu zzz+ + ++*++z+z( W+++(99+7 7(7)&&4&333* r7izzzz+z++++zz+ +++r+*+*)++ r z+++!! ++r (**!!* ( + + W++*+++* )+ +(h(+**++++++++++ ((hrr *+ ++ W++++)++*( uuu)h' " ""5 "6,6( ( 75))5))u)))u)')h ++* ++)+++**5))))h hh2hh6Yhh5
+) r)++z+
Mlg\i 16 * <cfe[\
MgvZ`Xc\Ycfe[\ * J`cj_\d
=_i`jkdXj * N\ib\e
Mf[X * F`dfeX[\ EL;E
LIO<;CR /3+6/+/3 =;G<L;C 5.+/0+45
:@5G< 65G9
)( XO\dWS` )10,' 7VO[^W]\\Ob R"SaQ`W[S RS ZO .rc[ F'5'
r/ `Wdl_[h -540* K[c_i[ Z[ cyZW_bb[
behi Z[ bW fhyi[djWj_ed Wk ZhWf[WkZ[ bW 4/*-.*
<h_Y^[ Gerb -54/ i XO\dWS` *21-( FS[WaS RS S^d_Uh
#fehj _l[i Wk <BF 4/*-.
., `udl_[h -540* I^eje Z[ \Wc_bb[ Wk LE< behi Z[ jhe_i ZyfWhji [d h[jhW_j[
3
V-, `Wdl_[h -540* :Z_[kn Zk <eccWdZWdj A>KEAB
(eccWdZWdj b[i iWf[khi fecf_[hi Z[ <:G;K:U*
. \ylh_[h -540* K[c_i[ Z#kd[
b[jjh[ Z[ \yb_Y_jWj_fdi Wk
c[ii Z[i Leki)e\\_Y_[hi*
/, `Wdl_[h -540* K[fWi Z[i Y^[l[kn XbWdYi
F^da e^b QSXQcb)))
F=895IL ' H=GGIG 8"5A9I6@9A9BH7CIJF9'@=HG ' 7CIJ9FHIF9G ' 7CI9HH9G
42E5BH %B:562EG>) ;CGG9H .-2+ il\ ;i`jk`[\*<i`Xe[=;O>LS
B< IF<:@8B@IJ< ;K H@;<8K<J ;K J@IIK ;"8C<K9B<C<DJ
42E5BH42=3B2:
c? =;N?;O
QTF?EC QL^]OP:f[RPW]&F]"]P&H[ _T]P& &=;G<L;C7 6) il\ [l A$[\ AXlcc\
s 75I8FM3 0) il\ Lf^\i MXc\e^if
s 9G75I8rIJF9G3 /) il\D+ DXliuj
s =KIM3 1-) il\ [l GXivZ_Xc @fZ_
s @975H95I3 /.) gc;eXkfc\ @iXeZ\
>Xej cXm`\) fe e\ g\lk gXj kflk givmf`i+ JXi]f`j c\j vZfefd`\je\ jl]]`j\ek gXj l ZfdYc\i le Y\jf`e [$Xi^\ek `dgivml+
;cfij) hl\ ]X`i\:
F\j Xm`jvj mfek l cX MfZ`vkv AveviXc\ \k [\dXe[\ek le giwkg\ijfee\c+ FX MfZ`vkv AveviXc\ g\lk c\li giwk\i kiuj iXg`[\*d\ek) \k jl`mXek c\lij gfjj`Y`c`kvj [\ i\dYflij\d\ek+
?k l cXMfZ`vkv AveviXc\) fe e\ c\li [\dXe[\ gXj gfli hl\cljX^\+ =$\jk c\li X]]X`i\+
\ej\`^e\q*mflj Xlgiuj [\ efj jgvZ`Xc`jk\j+
Ccj flj Zfej\`cc\ifek jli c\ Z_f`o [\ cXd\`cc\li\ jfclk`fe+
CQWQbY]b u ,) il\ ;i`jk`[\*<i`Xe[TU eU]cU u .) il\ [\ H`Z\Qd TpcQY[ u /+ il\ AXdY\kkX
3 \ylh_[h -540* O_i_j[ Zk @ydyhWb IBGMHK(
fhyi_Z[dj Zk <*I*L*:*
1# CXNTg]g8gWg[LUPc\ Y`\e*wki\ l jX YXehl\
#
-0 \ylh_[h -540* O_i_j[ Zk @ydyhWb => <A:LL>R(
YeccWdZWdj b[ <*:*Y*=*:*-0# \ylh_[h -540* b#ygk_f[ Z[ lebb[o)XWbb
\yc_d_d[ Z[ bW ;Wi[ Wyh_[dd[ -,/*
rl \ylh_[h -540* b*M*:*:*
8RZ[YRK\[NFYWOORLRNT
8FKI> ;@AFLK@>I
@:6BB6 <d@:>66 Uc ..) adU MX[`*=Xielk) =;G<L;C
5 cWhi -5;0* rhyi[djWj_ed Wk ZhWf[Wk Z[ 6W 40+,.*
6F=7C@9IFG `SbS\Sg QSbbSOR`SaaS
35:C%56D2:<DWS``S:CI@CB ++& `cS @]cWa6Zq`W]b
: QLNP!:QbUa]U =X[]UP[U 5gYX\T]LT[P
HOaaSOce' A]cZc`SaH]ca ZSa^O\\SOce5 JCG A9GIF9G .2-)) 75A 6F5= (c"CYgNTLUT\]PPWVLNSTWP\e MXT\
YX^[ M[TNXUP^[\P] _a^hUbbY^]]U[b
.-
.5 cWhi -540* O_i_j[ Z[ fWhb[c[djW_h[i f[dZWdj =:M>Q*
* cWhi -540* AWjY^ !Z[hXo! Z[ \eej)XWbb
L: /,+-,/ ) LkXi_ijWdY[i*
A5H9@5GG=9FH5D=GG=9F
YZiYf[\DSbWbSFcS JS`bS.2-)) 75A6F5=
"O"#+0$1,(2+(0+
bSQV\W_cSTbO\pOWss RS`S\][[S( []\RWOZ(
`ORW]bqZqdWaW]\
VOcbS' TWRqZWbqqZSQb`]'[q\OUS`
(3 6G><@:C@JK>H<CAGCB(
b $"(#,"&
%kSU`=[ZZZ''4[OWa]\[]RS`\SIL>=>J>K>J!K>C+&#'(#%,#
..
*+ VheaYUai )10,' 8S`\WS` d]Z Rc @WScbS\O\b&Q]Z]\SZ
<:AIBHG ikh Wl_ed Z[ bW -.rc[ >*<*
%
r;>C?O @"5A=i
Mk [i W\\[Yjy l bW .xc[ >iYWZh_bb[ Z[
b#>iYWZhed Z[ Y^Wii[ ,-+,-. !<WcXhW_i_i!*
Hc d]ZSa acQQSaaWdS[S\b ac` GA 6*
[j ikh F_hW][ ?B [j jk \hWdY^_i Wl[Y W_iWd)
Y[ jeki b[i yY^[bedi Z[ bW ^_yhWhY^_[ Zk
cyj_[h Z[ f_bej[ Z[ Y^Wii[ fekh eXj[d_h b[
Xh[l[j Z[ Y^[\ Z[ fWjhek_bb[ [d `Wdl_[h -54-*
HSa _cOZWbpa Vc[OW\Sa Sb ^`]TSaaW]\&
d[bb[i j[ Zyi_]d[dj [d jelj[ be]_gk[ fekh
eYYkf[h b[ feij[ Z#WZ`e_dj Wk Y^[\ Z[i efy)
hWj_edi [d `k_bb[j -54-*
Nd Wd fbki jWhZ( Y[hjW_di Z[ jW lWb[kh
Z[ f_bej[ [j Z#e\\_Y_[h( j[i Y^[\i j[ h[c[j)
j[dj b[ YeccWdZ[c[dj Z[ b#>iYWZh_bb[ Z[i
I[hhegk[ji( bW LI: -3. Z[ b#>iYWZhed Z[ Y^Wi#
i[ ,.+,-. !I_YWhZ_[!*
Hc Oa OQQ][^ZW b]\ [pbWS` RS Q][[O\&
RO\b R"SaQOR`WZZS OdSQ P`W]'
Y#[ij fekh kd f_bej[ Z[ Y^Wii[( bW
Q]\apQ`ObW]\ Sb ZS ^Zca PSOc RSa Q][[O\RS&
[S\ba'
<[ YeccWdZ[c[dj( h[dZk Z_\\_Y_b[ Z[
\]a X]c`a ^O` ZO dWS W\bS\aS _cS \]ca c[dedir
bc Z"Oa `pOZWap OdSQ RpbS`[W\ObW]\ S\ Q]\bW&
dkWdj Z#o c[jjh[ jekj[ bW fWii_ed [j bW \ek)
UcS RS bO ^S`a]\\OZWbp'
'
7Sa b`OWba RS QO`OQbo`S% \]ca ZSa
aUca ^de `S]b VhVP OLW\ UP\ Yg[TXOP\ OP Og]PW%
bS% ac`b]cb S\ a^]`b2 `cUPf% bS\\Wa% T]]b&
XWbb( jekj o fWiiW_j [j gkWdZ _b o WlW_j Z[
ZO !QOabOU\S!% Q][[S ]\ RWb n 69N=9FG% bc
\"pbOWa XO[OWa ZS RS`\WS`'
!BWQVSZ% \]ca Od]\a g]g XSc\Sa ^WZ]bSa
l G:G<R( `[ j#W_ jek`ekhi jkjeoy( `[ Yedj_)
\cS`OW R]\Q S\ QS X]c` [OZU`p ZS ^`]b]Q]ZS!'
' '
!5RWSc Z"O[W XS b"OW[OWa PWS\
5RWSc Z"O[W XS bZOW[OWa PWS\ bc aOWa
7"Sab Rc` RS []c`W` Oc D`W\bS[^a
JkWdZ ed [ij l bW \b[kh Z[ b#v][!*
7SbbS O\\pS S\Q]`S% bc Oa ^`]cdp Oc
HQVOR% b]cbS bO dOZSc` S\ []\b`O\b RO\a c\S
[WaaW]\ ]t bc Oa Saacfp ZS TSc RS Z"S\\S[W%
jekj jed iWd] \he_Z [j j[i gkWb_jyi Z[ Y^[\
S\ d]Z'
>d `k_d -53.( kk [i WZc_i Yecc[ ybx)
l[ f_bej[ l :NEG:M6 jk yjW_i( Yecc[ jeki
QSce _cW S\b`S\b RO\a QS [pbWS`% O\W[p% ^O`
bW fWii_ed Zk leb [j jk iWlW_i gk#_b Yecfeh)
bOWb c\S ^O`b RS `Wa_cS'
WZ J O b`]Wa X]c`a% Oce Q][[O\RSa RS
b]\ AW`OUS :=% bc `pOZWaSa bO Z[hd_rh[ [Wa&
aW]\ Xca_c"l Z"cZbW[S aOQ`WTWQS'
<[i l[hi Z[ CWYgk[i ;h[b( `[ d[ f[d)
iW_i fWi F_Y^[b( gk[ jk WbbW_i deki b[i \W_h[
dWd`S RS TOn]\ OcaaW Q`cSZZS RO\a ZO \cWb
Zk ., Wk .- cWhi*
:k ieb( j[i f_bej[i edj fWhj_Ykb_xh[)
[S\b O^^`pQWp bSa _cOZWbpa Vc[OW\Sa' 7"Sab
^Scb qb`S ^]c` QSZO _cS bc Oa pbp OcaaW PWS\
acWdW S\ ]^p`ObW]\a% QO` bc OdOWa ZS Q]\bOQb
OdSQ Sce'
Mk eXj_[di l MHNKL [d `k_bb[j -530(
bW hyYecf[di[ Z[ jed jhWlW_b [j Z[ j[i gkW)
b_jyi 6 b[ cWYWhed Z[ f_bej[ Z[ Y^Wii[*
Jk[ Ce{bb[( j[i [d\Wdji [j jW \Wc_bb[
aW rhkrWb[c[dj Sb aW Rc`S[S\b p^`]cdpa aO&
Y^[dj gk[ deki fWhjW][edi b[kh Zekb[kh [j
]c"WZa ^ScdS\b Q][^bS` ac` ZO a]ZWRO`Wbp
PWS\ Q]\\cS ci b]\ 9aQO]`]\'
FWb]hy Y[bW( jk [djh[i l b#yYeb[ Z[
f_bejW][ Z[ <H@G:< [d 3/* : bW iehj_[( jed
QV]We Sab \Sb2 QS aS`O Z"OdWObW]\ RS QVOaaS'
O
Hc Oc`Oa R]\Q ac Xca_c"l ZO TW\% `S&
fhyi[dj[h jekj[i b[i gkWb_jyi gk_ \edj bW
deXb[ii[ Z[ Y[ cyj_[h Z_\\_Y_b[( fWii_eddWdj
Sb OR[W`p'
:fhri bO b`O\aT]`[ObW]\ ]^p`ObW]\\SZZS
l 75N5IL ac` Foijrh[ =J% bc Sa OTTSQbp l
G:G<R ZWdi b#>iYWZhed Z[ Y^Wii[ ,.+,,/
!<^WcfW]d[! ikh F_hW][ Bbb>*
: bW iehj_[ Z[ b#yYeb[( cW`eh f_bej[
Z[ (jW fhecej_ed( jk h[`e_di bW ;Wi[ Z[
<\kr;K:B [d eYjeXh[ 32*
<eccWdZWdj O>KHG
YeccWdZWdj b#>*< ,.+,-.
!IB<:K=B>!
Hc pbOWa Up\p`Sce% S\bV]caWOabS% d]&
Z]\bOW`S Sb a]c`WO\b% QSbbS W[OUS \S a"STTO&
Y[hW fbki Z[ dei Ye[khi*
5fO\b ^Oaap OdSQ acQQpa ZS Q]\Q]c`a
Z[ b#>Yeb[ c_b_jW_h[ Z[ b#W_h l L:EHG( jk
eXj_[di b#yfWkb[jj[ Z#H\\_Y_[h \_d We•j 31*
FB<A>E( GHNL M> =BLHGL :=B>N#
./
@9ACH 89 @"5IACB=9F
7CAA9BH D9IH&CB 9HF9 A=@=H5=F9 0
@O _cSabW]\ Sab O\QWS\\S'
Wkn :hcy[i% 6 !Bb \Wkj Y^e_i_h bW IW_n gk[
Z"]\ RpaW`S PmbW` Sb qb`S ^`qb n S\ ^OfS`
b[ fh_n* E[ Y^[c_d(Z[ bW fW_n [ij WhZk(
RWTTWQWZS% aS[p R"S[PuQVSa' B]ca [Sac`]\a
OQbcSZZS[S\b Z"OdScUZS[S\b Sb ZO ^cWaaO\QS
Z[i \ehY[i gk_ i#effei[dj t bW fW_n* E[
NSPVTWOP UL YLT` P\] L[O^& !2^\\T WP YP^_PW]
^`S\R`S QS QVS[W\ Sb aS TOW`S aS`dWbSc`a RS
bW fW_n gk[ Z[i ^ecc[i \ehji [j hyiebki(
RSa V][[Sa Up\p`Sce Sb QO^OPZSa RS Q]c`W`
RSa `Wa_cSa! #Oce ]Pao_cSa RSa DO`Oa T`O\&
wW_i jkyi l ;>RKHNMA%*
M[bb[ gk#[bb[ W fk zjh[ feiy[ fWh
<ekhj[b_d[( [bb[ [ij ^[kh[ki[c[dj X_[d
ZyfWiiy[*
FW_i [bb[ i#_cfei[ cW_dj[dWdj jekj
L^][PVPW]&
B]ca dWd]\a S\ STTSb RO\a c\ []\RS
ac`O`[p% _cW R]cbS OQbcSZZS[S\b RS ZO a]ZW&
RWbp RSa dS``]ca W\abOZZpa% Sb d]Wb caUh(
Xb[h b[i fehj[i Z[ b#[d\[h dkYbyW_h[*
>jh[ c_b_jW_h[( [d]W]y ek Wff[by(
\"Sab&QS ^Oa OZ]`a ^OQbWaS` OdSQ QSa T]`QSa
RS []`b% a"S\ TOW`S ZS aW\Wab`S W\ab`c[S\b%
WYY[fj[h Z[ i[hl_h b[ FWb 9 G[ \WkZhW_j)_b
^Oa ]aS` ^`ObW_cS` !Z"5RWSc Oce O`[SaZZ 0
D]c` b`O\aT]`[S` S\TW\ ZSa p^pSa S\ a]Qa
Z[ Y^Whhk[ 9
Bb [ij( b[ fxh[ ?BA>R( b#kd Z[i hy)
ROQbSc`a Rc 8]Qc[S\b !;OU\S` ZO DOWe! ^cPZWp
^O` ZSa 9dq_cSa T`O\nOWa n Z"WaacS 'RS ZSc`
:ii[cXby[ Ibyd_xh[( t EHNK=>L( b[ 4 del[cXh[
-5#4/* Nd ZeYkc[dj Z#kd[ ]hWdZ[ \ehY[ c[ikhy[
_cW \"SaaOWS ^Oa RS TOW`S ^ZOWaW`% _cW \"Sab
QS`bSa ^Oa c\S [O\]Scd`S ^]ZWbW_cS% Sb _cW
d[ de_[ fWi bW gk[ij_ed ZWdi b[ l[hX_W][
f_[kn* Jk#_b deki \WkZhW_j jeki fekle_h
ZW`S' EcS Z"]\ ^]c``OWb n ZO `WUcSc` `pac[S`
OW\aW% S\ O^^]`bO\b ZSa ^OaaOUSa SaaS\bWSZa'
E#WddedY[ fhef^yj_gk[ $BiW_[ -'/ (F_Y^y[ 0(/% W yjy X_[d iekl[dj Zy\_]khy[
S\ W[^`pQObW]\' 9b ZS \pQSaaOW`S `Sb]c` Oce
a]c`QSa RS ZO DOWe Sab PWS\ a]cdS\b% b`]^
a]cdS\b RSdS\c b]``S\b RS RWTTO[ObW]\a Sb
R"OTTW`[ObW]\a aW[^ZWabSa' J]Z]\bWS`a% Z"]\
[Sbb`OWb Z"5`[pS Sb ZSa AWZWbOW`Sa Oc PO\
Z[ bW dWj_ed [j Zk cedZ[ Y_l_b_iy*
Jk[ Z_j)ed( [j gk[ f[di[)j)ed ikh)
b]cb% Z]`a_c"]\ pd]_cS Z"5`[pS Sb Z]`a_c"]\
fWhb[ Z[i c_b_jW_h[i9 Jk[ Y#[ij Zk ]Wif_b)
bW][ [j Z[ bW ijkf_Z_jy( gk[ Y[ iedj Z[i
bcSc`a S\ ^cWaaO\QS Sb RSa OaaOaaW\a P`SdS&
jyi*
B]\ e ZO UcS``S% [OWa \]\ OcaaW Oc
ZyiWhc[c[dj kd_bWjyhWb jhef _hhyWb_ij[*
!@O \]\&dW]ZS\QS% aW SZZS ^Scb qb`S
c\ S\UOUS[S\b ^S`a]\\SZ% \S ^Scb qb`S SeWUpS
Z#kd >jWj* <Wh bW YedZWcdWj_ed WXiebk[ Z[
jekj[ ]k[hh[ c[jjhW_j b[i f[kfb[i fWY_\_gk[i
e ZO [S`QW RS QSce _c"O\W[S c\S WRp]Z]UWS
Z[ Zec_dWj_ed* =Wdi kd cedZ[ e~ b#^ecc[
Sab S\Q]`S c\ Z]c^ ^]c` Z"V][[S% aS b`O\a&
T]`[S` S\ OU\SOc% QS ^Scb qb`S ^`]d]_cS`
b[ bekf!*
<[jj[ by]xh[jy Yh_c_d[bb[ fekhhW_j
X_[d deki Ye•j[h bW b_X[hjy*
B]\ S\Q]`S Oc QVO\bOUS ac` ZO ^Sc`'
9b Q"Sab ^]c`_c]W c\S RWaacOaW]\ \cQZpOW`S
Sab bS[^]`OW`S[S\b ZpUWbW[S'
==@O RWaacOaW]\ Sab c\S `p^]\aS []&
[S\bO\pS% ^]c` ^O`S` e c\S aWbcObW]\ ZW[WbS
Z#e~ _b \Wkj iehj_h Wk fbki j}j( jWdj [ij
]hWdZ b[ h_igk[* <#[ij i[hl_h bW fW_n gk[
RS RpQ]c`OUS` Z"OU`SaaSc` S\ ZS Q]\b`OW&
U\O\b e c\ Q][[S\QS[S\b RS aOUSaaS' @O
[S\OQS \"Sab ^Oa Z"S[^Z]W'
FW_i i_ bW YhW_dj[ f[kj zjh[ b[
Q][[S\QS[S\b RS ZO aOUSaaS% SZZS \"Sab ^Oa
ZO aOUSaaS' 9b ZO \]\&UcS``S `S^]aO\b ac`
QSbbS Q`OW\bS \"Sab ^Oa ZO ^OWe!'
=[^]aaWPZS% RO\a ZS QOR`S T]`Qp[S\b
h[ijh[rdj Z#kd Whj_Yb[ ZWdi ?E:LA -,/( Z[
`pTZpQVW` )\\UcS[S\b ac` ZS [pbWS` [WZWbOW`S%
gk_ [ij iWdi Zekj[ b[ fbki Z_\\_Y_b[ Zk ced)
Z[( YWh _b i#W]_j Z#WYgkyh_h bW fbki ]hWdZ[
Yecfyj[dY[ fekh kd[ jvY^[ gk[ b#ed h[\ki[
RS b]cb a]\ qb`S% _cS Z"]\ \"SeS`QS`OWb% ZO
[]`b RO\a Z"m[S% _cS ^]c` \S ^Oa ZOWaaS`
bcS` QSce R]\b ]\ aS aOWb `Sa^]\aOPZS'
FW_i _b [ij feii_Xb[ Z[ Z_h[ Yecc[dj
kd Y^hyj_[d f[kj h[]WhZ[h b#:hcy[*
=[fk_i .,,, Wdi [d [\\[j( b[i Y^hy)
j_[dr( O\W[pa ^O` Z"9a^`Wb RS >paca% ]\b
bed]k[c[dj hy\byY^_ Wk fheXbxc[( Wkn fhe)
Xbxc[i ikYY[ii_\i Z[ bW @k[hh[ [j Z[ bW
IW_n* >j Z[fk_i 0, Wdi( Z[fk_i ABKHLABF:(
b[i j^yebe]_[di( b[i >lzgk[i( b[ IWf[ edj
`OaaS[PZp ZSa pZp[S\ba R"c\S _cSabW]\ _c"WZ
\WkZhW_j X_[d i[ ]WhZ[h Z[ i_cfb_\_[h*
>Yekjedi Z#WXehZ bW ]hWdZ[ le_n Z[i
9dq_cSa Rc []\RS S\bWS`% `pc\Wa Oc 7]\QWZS
Zk OWj_YWd [d -521* Bbi W\\_hc[dj6 !Hd d[
aOc`OWb Rp\WS` Oce U]cdS`\S[S\ba% c\S T]Wa
yfk_iy[i jekj[i b[i feii_X_b_jyi Zk hy]b[)
c[dj fWY_\_gk[( b[ Zhe_j Z[ by]_j_c[ Zy\[d)
aS' EcO\b n" QSce _cW aS d]cS\b Oc aS`dWQS
RS ZO DOb`WS% RO\a ZO dWS [WZWbOW`S% _I"WZa
aS Q]\aWRo`S\b Q][[S ZSa aS`dWbSc`a RS ZO
iyYkh_jy [j Z[ bW b_X[hjy Z[i f[kfb[i*
G"WZa a"OQ_cWbbS\b Q]``SQbS[S\b RS QSbbS
bmQVS% WZa Q]\Q]c`S\b d`OW[S\b Oc [OW\bWS\
RS ZO ^OWe!'
@O \pQSaaWbp ^`paS\bS R"c\S RpTS\aS
Whcy[ Ze_j zjh[ ZyfWiiy[ fWh kd ZyiWhc[c[dj
_cW a]Wb c\S bmQVS Q][[c\S% ^O` c\ RWOZ]UcS
_dZ_if[diWXb[ [j Z_\\_Y_b[( [j kd YecXWj
f[hcWd[dj fekh bW fW_n*
E[i XWi[i if_h_jk[bb[i Z[ bW fW_n
iedj bW b_X[hjy( bW `kij_Y[( bW ieb_ZWh_jy(
bW lyh_jy* EW IW_n( Y#[ij b#W\\W_h[ Z[ jeki*
5ce QV`pbWS\a% S\ QS R][OW\S Q][[S OWZZSc`a%
R"qb`S RSa PmbWaaSc`a'
!@Sa c\a Q]\b`S ZSa Ocb`Sa% \]ca \S
UOU\S`]\a XO[OWa ^Zca ZO UcS``S% ZSa c\a
Wl[Y b[i Wkjh[i( deki fekledi ]W]d[h bW
^OWe!'
IWheb[i \ehj[i [j YekhW][ki[i*
Jk_ deki Wff[bb[dj l b#WYj_ed [j
l bW Yed\_WdY[* Ged( b[ Y_[b d[ deki jec)
X[hW! fWi ikh bW jzj[* L_ deki iWledi(
^ecc[i l_lWdj ZWdi b[ cedZ[ c_b_jW_h[(
zjh[ Z[i Whj_iWdi Z[ fW_n*
FSQSd]\a OcaaW ZS ^]W\b RS dcS RS
Fedi[_]d[kh CWYgk[i ?BA>R( b[ dekl[b >lzgk[
Zk cedZ[ c_b_jW_h[ $ed b#Wff[bb[ b[ O_YW_h[ @yhWhZ <KHI
.0
,
%
. 97<CG 8I 7=A=
75A6F5= '' =7= 75A6F5= ''HFC=G A=BIH9G
\"5FF9H
@S PWd]cOQ Sab ZO Q]\Q`pbWaObW]\ RS
QS _cS \]ca Od]\a O^^`Wa' B]ca ^O`b]\a S\
QVO\bO\b% S\bV]caWOa[S dWbS O[]W\R`W ^O`
bW \Wj_]k[ f^oi_gk[ Z[i Z[hd_[hi a_becx)
b`Sa' Aq[S ^]c` ZSa TS`dS\ba Rc QO[^W\U%
b[ cedjW][ Z[i j[dj[i h[ij[ yf_gk[*
<[hjW_di h[]h[jj[hedj b[ Yed\ehj Z[ bW
POaS [OWa R"Ocb`Sa a aOQ`WTWS`]\b ^]c`
Z"OdS\bc`S' @O ^`S[Wo`S X]c`\pS Sab [O`&
gky[ fWh bW fhyfWhWj_ed fioY^ebe]_gk[ Wk
Q][POb 2 RpQ]cdS`bS Rc bS``OW\ Sb `SQVS`&
QVS R"c\S ab`ObpUWS'
7VSdSce Z]\Ua% bS\cSa PWUO``pSa%
fekh f[k Z[ j[cfi *** Meki Z_\\yh[dji( deki
OZZ]\a qb`S O[S\pa n dWd`S S\aS[PZS c\S
Se^p`WS\QS RS dWS Q]ZZSQbWdS'
GWZS\QS% ]\ b]c`\S
9\ TOWb% ^]c` QS`bOW\a d]fOUSc`a%
b#Whhzj Zkh[hW 1.1 2,, c_dkj[i( ie_j /21
`ekhi*
:jj[dj[ Wd]e_iiy[*
'
@S [fabo`S RS ZO \cWb Q]\To`S Oc
Q][POb c\S Ocb`S RW[S\aW]\2 Z"OdO\QS
bOQbW_cS dS`a ZS QO[^ S\\S[W% ZS P`cWb
RSa `OTOZSa% ZO Zc[Wo`S RSa TcapSa Oc Z]W\%
ZS Q`W RSa O\bOU]\WabSa aO\a dWaOUS \]ca
Zedd[dj kd[ _cfh[ii_ed Z[ hy[b* E[ b[dZ[)
[OW\% O^`oa ZO [O`QVS% ZSa Oa^W`O\ba
9cbVW\S Sb 8S :]\bOW\S \]ca ^`]^]aS\b R"]`&
UO\WaS` c\ a^SQbOQZS ^]c` \]b`S a]W`pS
XheY^[jj[i ieki bW jkj[bb[ Zk YeccWdZWdj
Z[ XWi[( b[ <ebed[b rrMAB>N* <#[ij b#eYYW)
aW]\ RS \]b`S ^`S[Wo`S `SdcS OdSQ D'hZ'
@]`a Rc `S^Oa _cW acWb% brWjceif^xh[ Sab
X]fScaS% RpQ]\b`OQbpS Sb Q]\abSZZpS RS
lebkj[i Z[ \kcy[* Mhe_i Yekfi Z[ Xvjed6
_cS ZO TqbS Q][[S\QS @S a^SQbOQZS Oc
RpPcb Sab a^]\bO\p% P]\ S\TO\b' 7S`bOW\a
]hWZyi i#o Z_ij_d]k[dj fWh b[kh jWb[dj Z[
Q][pRWS\% R"Ocb`Sa% b`oa QWdWZS[S\b% #Sb
e ZSc` Rp^S\R$ a"OR]\\S\b Oce XSce% bSZ
QS [O`W\ `p^cbp% R]cQVp ^]c` \]b`S _[[[h
U`O\R ^ZOWaW`' @"OdWObSc` K9;9F5 aS ZO\QS
RO\a c\S Q][pRWS W[^`]dWapS RO\a ZO_cSZZS
Z[i dekl[Wkn Wff[byi $kd [\\yc_dy( kd ifeh)
bWT% c\ W\bSZZSQbcSZ% c\ U`]aaWS`$ dWdS\b
RSa aWbcObW]\a U`]bSa_cSa' I\ a^SQbOQZS
RS _cOZWbp ]t QVOQc\ O ^c a"WRS\bWTWS` '''
B]b`S ^`S[WS` Q]\bOQb OdSQ ZO POaS
Z[ <:F;K:B [ij fbkj}j iekh_Wdj 6 deki deki
`Sb`]cd]\a `O^WRS[S\b S\ aZW^% ^]caaO\b
c\ QORRWS% ^]c` ^`S\R`S ^]aaSaaW]\ RS
\]b`S ^O_cSbOUS 2 c\ ac^S`[O`QVp ^Sc ]`RW&
\OW`S
<pbp`]QZWbSa% \]ca a][[Sa `O^WRS[S\b
RSdS\ca c\WT]`[Sa% S\ bS\cS YOYWS% QVSdSce
Q]c`ba '''
' '
!6]\X]c`% XS acWa ZS @WScbS\O\b
FC6=BC% Q][[O\RO\b Rc QS\b`S R"W\ab`cQbW]\
c_b_jW_h[( Yedj_d][dj 4/+,4* C#[ifxh[ gk[
b]cb aS ^OaaS`O PWS\
7"Sab S\acWbS Oc b]c` Rc @WScbS\O\b&
Yebed[b KH;>KM Z[ deki WYYk[_bb_h 6 yleYW)
j_ed Z[ K[dy FekY^ejj[( fhyi[djWj_ed Z[
bW XWi[
E#Wffh[dj_iiW][ Z[ bW l_[ c_b_jW_h[
^Scb n ^`paS\b Q][[S\QS`' G]ca Z"]SWZ
OdWap RS \]a QVSTa RS U`]c^S% \]ca RpQ]c&
d`]\a ZO A5D & ^O`R]\% [O\]Scd`Sa n ^WSR &
Sb Z"S\aS[PZS RS b#_dijhkrj_ed [WZWbOW`S
Oc b`OdS`a RSa Q]c`a Sb Q]\Tp`S\QSa'
'' '
JWS\b S\acWbS Zi aS[OW\S a^]`bWdS
d]cpS n ZO Q][^pbWbW]\' @Sa p_cW^Sa )o`S%
.xc[ YecfW]d_[ [j YWZh[i iedj hWf_Z[c[dj
Q`SSSa ^]c` a"OTT`]\bS` Z]`a RS X]cbSa
[p[]`OPZSa' @O ^`S[Wo`S Q][^OU\WS a"]Qb`]WS
bW l_Yje_h[ [d ^WdZ)XWbb( lebb[o)XWbb(
XWia[j)XWbb* E[i YWZh[i Zec_d[dj jhxi bWh)
][c[dj [d hk]Xo( ifehj ZWdi b[gk[b b[kh
QO^OQWbp ^VfaW_cS a"Se^`W[S ^Zca OdO\bO&
UScaS[S\b'
@O No[S Q][^OU\WS aOcdS Z"V]\\Sc`
S\ bS`[W\O\b dWQb]`WScaS[S\b ZS b]c`\]W
Z[ \eejXWbb \WY[ Wkn YWZh[i j[hhWiiyi fWh
bW \Wj_]k[* Bb \Wkj hWff[b[h gk[ Y[i Z[h)
\WS`a% S\ `OWa]\ RS ZSc` STTSQbWT `Sab`SW\b
Qc[cZS\b e RpTOcb RS dWQb]W`Sa% ZSc` ^O`bW&
QW^ObW]\ Oce TW\OZSa RS b]cbSa ZSa RWaQW&
^ZW\Sa' 6`Od] R]\Q% ^]c` ZSa QOR`Sa% _cW
cWb]hy b[ hoj^c[ _dj[di_\ gk#_bi edj Z@
acPW`% a ]\b [Wa Rc Q]Sc` Oc dS\b`S% Sb S\&
R][[OUp R"Ocb`Sa ^O`bWSa RS ZSc` O\Ob][WS'
8pTS\aS \ObW]\OZS% ^O` ZS @WScbS\O\b
Yebed[b ;HBMM>( YecXWj( Whc[c[dj [j hy]b[)
[S\b' H`pa dWbS% \]ca \"VpaWbS`]\a ^Zca
ikh b[ ]hWZ[ Z[i f[hiedd[i h[dYedjhy[i ***
J]ca a]cdS\Sg&d]ca RS d]b`S RS`\Wo`S
OQbWdWbp a^]`bWdS4 GW ]cW% P`Od]' GW \]\%
b[i fh[c_[hi ZyYhWiiW][i edj Zk zjh[ yfhek)
dO\ba% [OWa ^]c` PSOcQ]c^ R"S\b`S \]ca% ZO
`SRpQ]cdS`bS Rc a^]`b Sab ^]aWbWdS ''' 9b
ieki b#e[_b _hed_gk[ Zk Y^[\ =H;R( b[i
i^WZeYai fecfW_[dj( fecfW_[dj ***
EW h[c_i[ Z[i Yekf[i W b_[k Wk \eo[h
Z[ b#H* M [d fh vj [dY [ Zk <Y Ffi`\ B rrMAB>N
$YeccWdZWdj Z[ XWi[%( Zk E_[kj[dWdj KH;BGH
$YeccWdZWdj Zk <BG% [j Zk E_[kj[dWdj
=>IE:GJN> $WZ`e_dj%* E[ <ebed[b F:MAB>N
_cW ^O`Orb qb`S Tp`c RS a^]`b \]ca TpZWQWbS
QVOZSc`ScaS[S\b Sb RO\a c\ a]c`W`S S[^`SW\b
R"W`]\WS W\dWbS ZSa QOR`Sa e aS `Obb`O^S`
Wk fheY^W_d <*-*
.1
E#Wfe]y[ Z[ dejh[ <*B lyYk [ij bW
Yyhyced_[ Z[ Yb}jkh[ 6 _bBWIhyi[djWj_ed Wk
;a Q_U Qd ! )
>bb[ i[ Zyhekb[ ZWdi kd[ f[j_j[
Yecckd[ deccy[ OBEE>KL)HNMK>:NQ( [d fhy)
i[dY[ Z[i ybki beYWkn [j Z[i \Wc_bb[i Z[i
Wff[byi* Geki Zy\_bedi ikh *Z[i cWhY^[i
c_b_jW_h[i Z[ bW cki_gk[ Z[ bW .xc[ Ky]_ed
Wyh_[dd[* <b[ij ]hWdZ_ei[ [j yceklWdj* E[<ebed[b rrMAB>N _di_ij[ ikh b#_cfehjWdY[
gk[ Ze_j h[lzj_h Y[jj[ Yyhyced_[ l dei
rl[kn*
EW ce_j_y Z[i Wl_Wj[khi Wff[byi
[\\[Yjk[ b[ f[bejed Z#ybxl[i ]hWZyi*
=khWdj Y[i Z[kn i[cW_d[i% b[i \kjkhi ]hWZyi
f[h\[Yj_edd[dj b[khi YeddW_iiWdY[i( W_]k_)
i[dj b[kh i[di Zk YeccWdZ[c[dj [j Z[i h[i)
fediWX_b _jyi*:fhxi b[ jekh Z[ XWi[ gk_ deki f[h)
c[j Z[ c_[kn YeddW_jh[* b#[ifWY[ ZWdi b[)
gk[b deki l_ledi( bW ]hWZWj_ed Z[i cWhY^[il_[dj f[Wk\_d[h dejh[ YedZ_j_ed f^oi_gk[*
;HNKEHG h[ij[% ZWdi bW cyce_h[ Yebb[Yj_l[%
kd cec[dj W]hyWXb[*
Bb [ij l dej[r gk[ behi Z[ bW cWhY^[
ylWi_ed( b[ E_[kj[dWdj KH;BGH W j[dk l Y[
gk[ deki ieoedi ^yb_fehjyi( Y[ gk_ h[fhy)
i[dj[ b[ i[YedZ ylxd[c[dj Z[ dejh[ \ehcW)
j_ed c_b_jW_h[* Geki fekledi ZedY YedYbkh[
[d W\\_hcWdj l b#_dijWh Z#kd Y[hjW_d
i[h][dj( gk[ dejh[ <*B lWbW_j ied BBf>SBG
=#HK! *
>j b[ j_h9 EW ,4 W f[kj)zjh[ Zk
fbecX ZWdi bW jzj[( cW_i [d W)j)[bb[
WkjWdj ZWdi bW Y_Xb[ 9 :fhxi Wle_h yjkZ_y
bW Yecfei_j_ed( b[ \edYj_edd[c[dj Zk IF
[j b[i YeccWdZ[c[dji Z[ j_h( deki deki
[n[hwedi Wk j_h hy[b* Ee_d Z[ deki Ce^d
PWod[ ek EkYao EkYa E[ fh[c_[h j_h W
[k X[WkYekf Z#_cfWYji ikh deki( cW_i f[k
ZWdi bW Y_Xb[* E[ Z[kn_xc[ [iiW_ i[hW fbki
YedYbkWdj*
'' '
:H@;@J<H?>>2:C'''
%(
s( 7F98=H @JCBB5=G,& `cS Rc ;q\q`OZ RS ;OcZZS.2-)) 75A6F5= ' Hk@(1*(.0(.)
J\idXe\eZ\ <+;+ .-0c\j /U \k 1U d\iZi\[` [\ Z_Xhl\ df`j
Xl G\jj [\j Mflj*I]]`Z`\ij [\ ** X(0- l .0 _ 0-
.2
<
%
!<^j_! Z[fk_i b[ ce_i Z[ `k_d -54. b[ L[h][dj <HG=HF(
ifyY_Wb_ij[ F_hW][ BO( e[klh[ Wk =:FL*
EWdZW_i YedlW_dYk( _b [djh[ ZWdi b#:hcy[ Z[ b#W_h fWh
b[ Y^[c_d } YecX_[d !heoWb! Z[i Whf[jj[i u L:BGM>L Ik_i KH<A>?HKM [j b[i Y_[kn YWcXhyi_[di b#WYYk[_bb[dj*
Lfehj_\ Z[ jeki b[i _dijWdji( _b [nY[bb[ [d ia_ [j ikh)
jekj [d cedeia_* =eccW][ gk[( fWhjWdj ikh bW d[_][( _b
)*Whh_l[ ZWdi b[ fbvjh[ ***
@9G7CBB5=GG9N'JCIG(((((((( (( (( ((((((("
GS`US\b 7CB8CA
:Z`kZWdj)Y^[\ PHC<B>LS:D
PW]ed ) HYYkfy ) Ckc[dj ) <bW_h[ ) BdZ_[dd[ )
>Y^Wffy[ ) Led ) See ) :l[Y ) DWoWa*
<[jj[ f^hWi[ d[ leki Z_j h_[d *** <#[ij jekj
i_cfb[c[dj kd fheYyZy cdycej[Y^d_gk[ fekh ehj^e]hW)
f^_[h iWdi \Wkj[ b[ dec Z[ b#:Z`kZWdj)Y^[\ PHC<B>LS:D*
@hWdZ Y^[\ Z[ bW Z_iY_fb_d[ XWi[( _b YeddW_j X_[d
bW ;: -,/ fekh [d zjh[ u ied Z[kn_xc[ fWiiW][(b[ fh[)
c_[h WoWdj [k b_[k Wk j[cfi Z[ b#>*; /+5/* FWh_y [j
fxh[ Z#kd f[j_j ]Whwed( _b [ij ifehj_\ YedlW_dYk*
>d [\\[j( d_ b[ lybe d_ b[ Yheii d[ bk_ hyfk]d[dj*
KWocedZ Y^y c_ Bb deki W lk dW|jh[( deki fWii[)
hedi [j _b i[hW jek`ekhi bu* Bb iyl_iiW_j Zy`u( `WZ_i(
Wbehi gk[ b[i !HkhW]Wdi! \WkY^W_[dj b[i cWh]k[h_j[i*
FeZ[hd[ Y[djWkh[( _b d[ \W_j gk#kd Wl[Y ied
\[dm_Ya [j hy]d[ [d cW|jh[ _dYedj[ijy ikh b[i gkW_i Z[
b#>KM -3+-,/* Bb YWY^[ kd Ye[kh ]hei Yecc[ wW ieki kd
WXehZ hk]k[kn [j W h[dZk c_bb[ \e_i i[hl_Y[ u gk_ b[
iebb_Y_jW_j *
=[fk_i ied [djhy[ [d i[hl_Y[ [d `k_d -511( iW
i_b^ek[jj[ X_[d Yeddk[( ied \hedj Zy]Whd_ [j ied
\hWdY fWhb[h b#edj \W_j \_]kh[h ZWdi b[ Y[hYb[ Z[i
c[kXb[i Z[ bW XWi[* >j d#Wij_Yej[p fWi Fedi_[kh
GHKF:G=( YWh [d fbki Y#[ij kd[ \_d[ ]WY^[jj[
Fedi_[kh GHKF:G=
<WfehWb)Y^[\ <HE>:N
!FWde !*** :kii_j}j kd iekh_h[ leki WYYk[_bb[
[j b[ i[hl_Y[ i[ Zyhekb[ ^Whced_[ki[c[dj [j Zyj[dZk*
E[ <WfehWb)Y^[\ FWh_[ Ge{bb[ <HE>:N( h[ifediWXb[ Zk
!<bkX Z[i ieki)e\\_Y_[hi! Wd_c[ b[ XWh Wl[Y kd[ [\\_)
YWY_jy hWh[* >dj^eki_Wic[ [j ]W_jy iedj fheXWXb[c[dj
i[i hy]B[i Z[ l_lh[* ;_[d gk[ ied [n_ij[dY[ i[ ie_j
W]hyc[djy[ Z#kd f[j_j ]Whwed( [bb[ Wiikh[ Wl[Y Xedd[
^kc[ k' b[i f[hcWd[dY[i*
`Y
I =U/;DE6<<6 =B:]aZ
<W_ii[ dWj_edWb[ c_b_jW_h[ Z[ iyYkh_jy
ieY_Wb[
: fhefei Z[i ZybW_i Z[ h[cXekhi[c[dj ***
=[i Yehh[ifedZWdY[i Z[ fbki [d fbki
decXh[ki[i fWhl_[dd[dj l bW <W_ii[ fekh
fhej[ij[h Yedjh[ b#Wbbed][c[dj Z[i ZybW_i
Z[ h[cXekhi[c[dj* Bb Yedl_[dj Z#[d h[Y^[h)
Y^[h b[i YWki[i*
Hkjh[ b[ hx]b[c[dj Z[i Zeii_[hi Z[
ie_di( bW <W_ii[ Ze_j Wiikh[h Z#Wkjh[i cm(Y^[i jekj Wkii_ _cfehjWdj[i fekh b#Wiikhy(
[bb[i)Wkii_ [d Wk]c[djWj_ed YedijWdj[ 6
b_gk_ZWj_ed Z[i \WYjkh[i Z#^eif_jWb_iWj_ed
$/,, ,,, [d -54/%( [nWc[d Z[i Z[cWdZ[i Z[
qh_i[ [d Y^Wh][ $/1, ,,,% [j Z[i [dj[dj[i
ehyWbWXb[i $0/, ,,,%( hyfedi[i Wkn hyYbW)
cWj_edi [j Z[cWdZ[i Z[ h[di[_]d[c[dji(
[n_][Wdj Zk f[hiedd[b gk_ Ze_j zjh[ ieki)
!hW_j 4-- jb!W_j[hd[dj Zri Zeii_[hy ***
Mekj Z#WXehZ( b[ decXh[ Z[i Zeii_[hi
Z[ ie_di Wk]c[dj[ Y^Wgk[ Wddy[ fekh ZyfWi)
i[h 3 1,, ,,, [d -54/( ie_j ., " Z[ fbki
gk#[d -534 $4, " Z[ fbki gk#_b o W Z_n Wdi%*
<[jj[ Wk]c[djWj_ed d#[ij fWi Z•[ l kd ZybW)
Xh[c[dj Z[ bW iWdjy Z[ dei h[iiehj_iiWdji(
cW_i Wk l_[_bb_ii[c[dj Z[ bW fefkbWj_ed fhe)
jy]y[( l b#eXb_]Wj_ed fekh b[i fhWj_Y_[di
Z#kj_b_i[h Z[i \[k_bb[i Z[ ie_di f[hieddWb_)
iy[i( Wkn fhe]hyi Z[ bW cyZ[Y_d[ ***
EW <W_ii[ [ij [d Xkjj[ l Z[kn ybyc[dji
ikh b[igk[bi [bb[ d[ f[kj W]_h6 b#WYYhe_i)
i[c[dj Z[i Y^Wh][i* [j b[ XbeYW][ Zk decXh[
Z[i W][dji Wk d_l[Wk Z[ -534( X_[d gk[
b#Wk]c[djWj_ed Z[i [\\[Yj_\i W_j yjy hyYbW)
cy[ Wl[Y _di_ijWdY[ cW_i jek`ekhi h[\kiy[
`kigk#u cW_dj[dWdj*
<[jj[ Y^Wh][ [ij [dYeh[ WYYhk[ fWh
b#[nj[di_ed Zk j_[hi)fWoWdj gk_ [n_][ Wk
ce_di Z[kn fW `[c[d ki ( b#kd Wk j_[hi( b#Wk)
jh[ l b#Wiikhy* :Yjk[bb[c[dj fbki Z#kd Zei)
i_[h ikh Z_n ik_j Y[jj[ le_[* ?WY[ l Y[jj[ i_jkWj_ed( b[ iekY_ Z[
bW =_h[Yj_ed [j Z[i f[hiedd[bi [ij Z[ \W_h[
[d iehj[ gk[ b[i h[iiehj_iiWdji Z[ bW <W_i)
i[( [d fWhj_Ykb_[h b[i h[jhW_jyi [j b[i
l[kl[i( Wjj[dZ[dj b[ ce_di bed]j[cfi feii_)
Xb[ Z[i h[cXekhi[c[dji _dZ_if[diWXb[i lb[kh gk_yjkZ[*
<ecfj[ j[dk Z[i [\\[Yj_\i gk#_b [ij
feii_Xb[ Z#W\\[Yj[h l bW b_gk_ZWj_ed Z[i
Zeii_[hi( bW i_cfb_\_YWj_ed Z[i fheYyZkh[i
[j b#kj_b_iWj_ed _dj[di_l[ Z[i ceo[di _d\eh)
cWj_gk[i f[hc[jj[dj Z[ jhW_j[h /, ,,, Zei)
i_[hi fWh `ekh( decXh[ gk_ Yehh[ifedZ i[d)
i_Xb[c[dj Wkn Whh_ly[i* EW ce_dZh[ ikhY^W][
ek bW ce_dZh[ WXi[dY[ Z[ f[hiedd[bi( Yecfe)
iyi fekh b[i Z[kn j_[hi Z#W][dji \yc_d_di(
[djhW|d[ _ccWdgkWXb[c[dj kd Wbbed][c[dj
Z[i ZybW_i Z#[nfbe_jWj_ed Z_\\_Y_b[ l hWj)
hWf[h* E[ fej[dj_[b _d\ehcWj_gk[ d#[ij fWi
[d YWki[ 6 _b f[hc[jjhW_j b[ jhW_j[c[dj Z[
fbki Z[ 0, ,,, Zeii_[hi fWh `ekh( i_ b[ dec)
Xh[ Z[ b_gk_ZWj[khi [j Z[ Yedjh}b[khi fek)
lW_j rjh[ Wk]c[djy*
Bbi Z[cWdZ[dj l jeki Z[ b[i W_Z[h
fWh b[kh Yecfhy^[di_ed*
H):) IYaUcGJT' .-+ ,3, -4++++,3
7S\bS` 7fQZSaGH56@=BG?=
,,,/' 8eU]dU TU LQ[U]SYU]]Ub ( :8C9H8@)**r `Nv.+%/4. 50+ 5-+ 02eQ[U]SYU]]Ub
8eU]dU TU ***+*7777977$7C
u TUbSgS[UbWQaQ]cYb_Qa TUb_a^VUbbY^]]U[b*7997* hHhdhUhThUhDhQ5e5Uhb
u d] bUaeYSUQ_aob(eU]cUUc ap_QaQcY^]c^dcUb \Qa`dUbu c^db [Ubp`dY_U\U]cb UcQSSUbb^YaUbQTQ_cpbQd SgS[Yb\Uu QacYS[UbTUb_^acb' SgS[Ubbda \UbdaU' bUaeYSUS^dabU)
$. <DJHk< B@9H< 4 ? l ,- ?i ,/ ? l ,4 ? bQdV[d]TY \QcY])
.4
,
*
F? J;LNC=OFC?L <+;+ .-0
LN<<>LLBHG
Nd[ f[hiedd[ f[kj Z[ ied l_lWdj( Z_i)
fe][h Z[ jeki i[i X_[di fWh ZedWj_edi ek
j[ijWc[dj [d \Wl[kh Z[ jekj[i f[hiedd[i(
fWh[dji ek ded( WiieY_Wj_ed Z#kj_b_jy fk)
Xb_gk[ ek \edZWj_ed* FW_i behi Z[ b#ekl[h)
jkh[ Z[ bW ikYY[ii_ed _b \WkZhW yl[djk[b)
b[c[dj fheYyZ[h l Z[i hyjWXb_ii[c[dji W\_d
gk[ Z[kn fh_dY_f[i ie_[dj h[if[Yjyi 6
) Ih[c_xh[c[dj( b[i Z[iY[dZWdji
[j l Zy\Wkj b[i WiY[dZWdji d[ f[kl[dj `W)
cW_i zjh[ Zyi^yh_jyi6 Y#[ij l Z_h[ b[i ^y)
h_j_[hi hyi[hlWjW_h[i* Bbi Wkhedj jek`ekhi
Zhe_j( gk[bb[i gk#W_[dj pcp b[i Z_ifei_j_ediZk Zy\kdj( l kd[ fWhj Z[ bW ikYY[ii_ed6 bW
hyi[hl[ #%$)
) =[kn_xc[c[dj( iWk\ Z_ifei_j_ediYedjhW_h[i Zk Zy\kdj( _b Ze_j p Wle_h y]Wb_)
cp [djh[ b[i Ye^yh_j_[hi*
$&% EW hyi[hl[ [ij bW \hWYj_ed Z[ bW LkYY[i)
i_ed Zedj kd[ f[hiedd[ d[ f[kj Z_ifei[h
Wk Zyjh_c[dj Z[ Y[hjW_di ^yh_j_[hi Z_ji
^yh_j_[hi hyi[hlWjW_h[i*
-% EW hyi[hl[ Ze_j zjh[ h[if[Yjy[
>d [\\[j( Y[hjW_di ^yh_j_[hi Z_ji
hyi[hlWjW_h[i edj jek`ekhi Zhe_j l kd[ fWhj
#Z[ bW ikYY[ii_ed* <#[ij kd[ hy]B[ _cfyhWj_l[*
E[ Zy\kdj d[ f[kj) p yY^Wff[h( fWh [n[cfb[ [d
Z_ijh_XkWdj jeki i[i X_[di l kd j_[hi( YWh
Wk `ekhi Zk ZyYxi( ed j_[dj jek`ekhi Yecfj[
Z[i ZedWj_edi \W_j[i Zk l_lWdj Z[ bW f[hied)
d[* E[ i[kb ceo[d fekh kd[ f[hiedd[ Z[ Zyi)
^yh_j[h i[i [d\Wdji( i[hW_j Z[ Z_bWf_Z[h
jeki i[i X_[di ek fWh [n[cfb[ Z[ b[i l[dZh[
[d l_W][h* IWh Yedjh[ bW b_X[hjy Zk Zy\kdj
[ij jejWb[ ikh jekj[ kd[ fWhj_[ Zk fWjh_)
ce_d[ gk_ d#[ij fWi hyi[hly[ Wkn [d\Wdji
[j fWh[dji Zk Zy\kdj 6 bW gkej_jy Z_ifed_Xb[*
Bb fekhhW [d Z_ifei[h Wk fhe\_j Z[ gk_ Xed
bk_ i[cXb[*
>d Yediygk[dY[( Y^Wgk[ \e_i gk#_b
g W Z[i ^yh_j_[hi hyi[hlWjW_h[i [j gk[ b[i
Zy\kdji edj fh_i Z[i Z_ifei_j_edi( Zed cW)
dk[b ek Wkjh[( [d \Wl[kh Z#kd[ ek fbki_[khi
f[hiedd[i( hyi[6lWjW_h[i ek fWi( _b \Wkj
YWbYkb[h gk[bb[ [ij bW fWhj Z[ bW gkej_jy
Z_ifed_Xb[ rj Z[ bW hyi[hl[( W\_d gk[ Y[b-,
Y_ ie_j h[if[Yjy[*
<WbYkb Zk cedjWdj ]beXWb Z[ bW
hyi[hl[
,
Kyi[hl[ .) )s)))))))))))))))))))))))-))))))))))
)))
[j #)))))))
Z[i WiY[dZWdji( -+0
ZWdi b[i Z[kn (fekh kd[
b_]d[i ( b_]d[
( -+0) )(fekh - Wk(jh[ b_]d[
)
E[ Zy\kdj bW_ii[ Jkej_jy
Z_ifed_Xb[
' Z[i Z[iY[dZWdji
- [d\Wdj
. [d\Wdji
/ [d\Wdji
fbki
-+.
.+/
/+0
-+.
-+/
-+0
' Z[i WiY[dZWdji
$[j l Zy\Wkj Z[i
Z[iY[dZWdji%
-+.
Z[i WiY[dZWdji#
ZWdi kd[ i[kb[#b_]d[ ()
-+0 /+0
K[cWh]k[ Y[ jWXb[Wk d#[ij [nWYj gk[ ZWdi
b#^ofej^xi[ ik_lWdj[6 b[ Zy\kdj
yjW_j i[kb ikhl_lWdj*
Iekh Z[i hW_iedi#Z[ YbWhjy [j
Z[ YedY_i_ed( b[i Zhe_ji Zk
Yed`e_dj ikhl_lWdj i[hedj [nW)
c_dyi ZWdi kd[ fheY^W_d[ yjkZ[*
.% E#y]Wb_jy [djh[ b[i ^yh_j_[hi
Ze_j zjh[ h[if[Yjy[
' E[ fh_dY_f[6 _b [ij feiy fWh b#Whj_Yb[
40/ Zk YeZ[ Y_l_b $jekj ^yh_j_[h czc[ Xydy)
\_Y_W_h[ l[dWdj l kd[ ikYY[ii_ed( Ze_j hWf)
fehj[h l i[i Ye^yh_j_[hi( jekj Y[ gk#_b W
h[wk Zk Zy\kdj( fWh ZedWj_ed [djh[ l_\i
Z_h[Yj[c[dj ek _dZ_h[Yj[c[dj*
) .)BP&P.
?NM+ L?H? A;CFF?N0-3 Qe) [l =Xk\Xl 261-- =;G<L;C
%/4&50+33+2.
F$XggXi\`c @CFIJOLcv^\i)g\l \eZfdYiXek)`eZXjjXYc\)X[XgkXYc\l kflk ifY`e\k)jXej X[[`k`] Z_`d`hl\)
i\e[ jX`e\ \k gfkXYc\c$\Xl cXgclj gfcclv\
?NM+L?H? A;CFF?N0-3 Xm+[l =Xk\Xl 261-- =;G<L;C
*+0#1,'//'.*
[<)
W% K[if[Yj Zk fh_dY_f[ @"OQbWT RS acQQSaaW]\% e a]\ RpQoa%
a"pZodS e .(( ((( :% Oc_cSZ ]\ dO `pc\W`
TWQbWdS[S\b ZO R]\ObW]\ TOWbS n 5\b]W\S%
\XT] /
I\S ^S`a]\\S O ^c RS a]\ d"&
dO\b% TOW`S RSa R]\ObW]\a n QS`bOW\a RS aSa
S\TO\ba ]c e QS`bOW\Sa ^S`a]\\Sa RS aO TO[WZ
ZS aO\a d]cZ]W` ZSa OdO\bOUS` ^O`bWQcZWo`S&
[S\b% [OWa aW[^ZS[S\b ^]c` ZSc` ^S`[Sbb`S
RS Pp\pTWQWS` RS QS`bOW\a RS aSa PWS\a aO\a
ObbS\R`S Zi RpQoa' 7"Sab ^]c`_c]W% QVO_cSj
\e_i gk[ b[ Zy\kdj WlW_j \W_j Z[i ZedWj_edi
S\ TOdSc` R"c\S ]c RS ^ZcaWSc`a Q]Vp`WbWS`a%
]\ dO% S\ ^O`bO\b RS Z"WRpS _cS ZS RpTc\b
WlW_j kd[ y]Wb[ W\\[Yj_ed fekh i[i fheY^[i(
fhyrkc[h _cS Y[irZedWj_edi OdOWS\b hcp TOW&
bSa S\ OdO\QS[S\b R"V]W`WS% Q"Sab e RW`S
S\ OdO\QS ac` ZO acQQSaaW]\' @O Q]\ap_cS\QS
Z]UW_cS Sab _cS Z"Vp`WbWS` R]\ObOW`S RSd`O%
Z]`a Rc RpQoa Rc R]\ObSc`% `O^^]`bS` ZS
PWS\ _cW ZcW O pbp R]\\p% OTW\ _I"WZ a]Wb
fWhjW]y rdjh[ b[i Ye^yh_j_[hi*
* 2,, ,,, ? ' .,, ,,, ? 9 4,, ,,, ?
gk[ b[i [d\Wdji i[ fWhjW][hedj* Bbi Wkhedj
Zhe_j u .,, ,,, @ Y^WYkd* :dje_d[ Yedi[hl[)
`O aO R]\ObW]\ Sb \S `SQSd`O `WS\ RS Z"OQbWT
RS ZO acQQSaaW]\'
Gc^^]a]\a [OW\bS\O\b _cS Z"OQbWT RS ZO
ikYY[ii_ed i#ybxl[ u 1,, ,,, ?* E[i [d\Wdji
aS ^O`bOUS`]\b 2
* 1,, ,,, ? ( .,, ,,, ? 9 3,, ,,, ?
X% >nY[fj_ed
Bbi edj Zhe_j u -31 ,,, = Y^WYkd [j :dje_d[
WoWdj h[wk .1 ,,, @ Z[ fbki gk[ iW fWhj Z[)
d`O `S[P]c`aS` QSbbS a][[S e aSa a]Sc`a%
_cW aS ZO ^O`bOUS`]\b% OTW\ _cS Z"pUOZWbp
S\b`S b]ca ZSa _cOb`S a]WS\b `Sa^SQbpS'
Bb [ij [d [\\[j feii_Xb[ Z[Rp`]US` Oc ^`W\QW^S R"pUOZWbp S\b`S Vp`W&
j_[hi* E[ Zy\kdj W fk fhyY_i[h gk[ bW ZedW)
j_ed yjW_j \W_j[ fWh fhyY_fkj [j ^ehi fWhj
ek [d yjWdj Z_if[diy[ Z[ .-/. hWffehj*
8O\a QS QOa% ZO R]\ObW]\ \S Q]\abWbcS ^Oa
c\S OdO\QS ac` ZO acQQSaaW]\% [OWa c\S ZWPp&
`OZWbp TOWbS n Z"Vp`WbWS` _cW dO a"OX]cbS`
n aO ^O`b RO\a aO acQQSaaW]\ 3 WZ TOcR`O
OZ]`a dp`WTWS`% \]\ ^Oa aW Z"pUOZWbp S\b`S
ZSa Vp`WbWS`a O pbp `Sa^SQbpS% ^cWa_cS ZS
RpTc\b XcabS[S\b S\ TOWaO\b&l Z"Vp`WbWS`
c\S R]\ObW]\ ^O` ^`pQW^cb O d]cZc Z"OdO\bO&
US`% [OWa aW ZO `paS`dS O pbp `Sa^SQbpS'
L_ b[ Zy\kdj WlW_j \W_j u :dje_d[
c\S R]\ObW]\ !^O` ^`pQW^cb! S\ ZS RWa^S\aO\b
RS ZO `O^^]`bS` e ZO acQQSaaW]\% WZ Oc`OWb
\Wbbk YWbYkb[h gk[b yjW_j b[ cedjWdj Z[ bW
_c]bWbp RWa^]\WPZS ^]c` aOd]W` aW ZS R]\
TOWb e 5\b]W\S \S ^]`bOWb ^Oa ObbSW\bS l ZO
`paS`dS RS aSa a]Sc`a'
9\ `S^`S\O\b ZS ^`S[WS` SeS[^ZS ZSa
R`]Wba RSa Vp`WbWS`a Oc`OWS\b pbp ZSa acW&
dO\ba
%[]\bO\b RS ZO `paS`dS UZ]POZS S\
^`paS\QS RS _cOb`S S\TO\ba 2
<Wh hWff[bedi b[ [d ]k_i[ Z[ YedYbk)
i_ed( bW hy]B[ i[bed bWgk[bb[ bW hyi[hl[
R]Wb qb`S `Sa^SQbpS% Sab OPa]Zc[S\b W[^p`O&
bWdS Sb OcQc\S RWa^]aWbW]\ Rc RpTc\b \S ^Scb
! TOW`S pQVSQ'
* /+0 Z[ 4,, ,,, ? ie_j 2,, HHH?
' cedjWdj Z[ bW gkej_jy Z_ifed_Xb[ 6
.,, ,,, ?*
>n[cfb[ Zk h[if[Yj Z[ bW hyi[hl[
5\b]W\S Oc`O R`]Wb e aO ^O`b RS
hyi[hl[ 6 2,, ,,, ? 0 9 -1, ,,, ? [j _b
dO Q]\aS`dS` aO R]\ObW]\ _cW OPa]`PS b]bOZS&
c[dj bW gkej_jy Z_ifed_Xb[ .,, ,,, ?*
A]\aWSc` L RpQoRS% ZOWaaO\b RSce S\&
TO\ba AO`Q Sb LOdWS`' =Z O% ^O` bSabO[S\b%
W\abWbcp aO a]Sc` DOcZW\S% ZpUObOW`S c\WdS`&
i[-*
M=jWb 6 /1, ,,, ?*
9b ZSa b`]Wa a]Sc`a \"Oc`]\b R`]Wb
gk#u b[kh fWhj Z[ hyi[hl[( ie_j -1, ,,, @
QVOQc\S'
IWkb_dr W( [d jWdj gk[ by]Wj _h[ kd_)
dS`aSZ% d]QObW]\ n `SQcSWZZW` ZO b]bOZWbp
RS ZO acQQSaaW]\' AOWa Q][[S WZ a O RSa
S\TO\ba% a]\ ZSUa \S ^]c``O a"SeS`QS` _cS
ikh bW gkej_jy Z_ifed_Xb[( ie_j -+/ Z[ bW
acQQSaaW]\ S\ ^`paS\QS RS RSce S\TO\ba'
AO`Q Sb LOdWS` `SQSd`]\b QVOQc\ ZO []WbWp
RS ZO `paS`dS UZ]POZS% a]Wb c\ bWS`a QVOQc\'
GW \]ca `S^`S\]\a ZO RSceWo[S aWbcO&
j_ed WYj_\ Z[ ikYY[ii_ed 1,, ,,, ?( ZedW)
j_ed .,, ,,, ?( b[i Zhe_ji Z[i ^yh_j_[hi
a]\b ZSa acWdO\ba
FS^`S\]\a \]b`S SeS[^ZS OdSQ QSbbS
RWTTp`S\QS _cS ZS ZSUa c\WdS`aSZ \"O ^Oa
pbp TOWb S\ TOdSc` RS DOcZW\S% [OWa S\
TOdSc` RS AO`Q' 6WS\ _c"WZ \"f OWb _cS RSa
`paS`dObOW`Sa% WZ TOcR`O _cO\R [q[S% ^cWa&
_c"c\ ZSUa c\WdS`aSZ L pbp TOWb% QOZQcZS`
bW gkej_jy Z_ifed_Xb[* >bb[ Z[c[kh[ jek)
`ekhi \_ny[ u -+/ [d fhyi[dY[ Z[ Z[kn [d)
\Wdji( [j FWhY( by]WjW_h[ kd_l[hi[b( bW
h[Yk[_bb[hW _djy]hWb[c[dj* Bb bk_ W`ekj[hW
aO ^O`b RS `paS`dS Sb `SQSd`O OW\aW ZSa
.+/ Z[ bW ikYY[ii_ed( QWl_[h d[ h[Y[lWdj_c"c\ bWS`a'
' cedjWdj Z[ bW hyi[hl[ ]beXWb[
/+0 Z[ 3,, ,,, ? 8 1.1 ,,, ? $ie_j -/- .1, ?
QVOQc\$ %
' cedjWdj Z[ bW gkej_jy Z_ifed_Xb[
-31 ,,, ?*
:dje_d[ l h[wk .,, ,,, ?* EW gkej_jy
Z_ifed_Xb[ [ij ZyfWiiy[ Z[ .1 ,,, ? gk_ ledj
a"W[^cbS` ac` ZO `paS`dS R"5\b]W\S'
7SZcW&QW Q]\aS`dS`O aO R]\ObW]\ RS
)'' ''' 7$ [OWa aO ^O`b RS `paS`dS \S aS`O
gk[ Z[
-/- .1, ? ) .1 ,,, ? 9 -,2 .1, ?*
>n[cfb[ Zk h[if[Yj Z[ b#y]Wb_jy [djh[
ZSa Vp`WbWS`a
Bb WkhW ZedY h[wk Wk jejWb /,2 .Lt
Sb ZSa a]Sc`a `SQSd`]\b ZSc` ^O`b RS `paS`dS
ie_j -/- .1, ? Y^WYkd[*
Fedi_[kh =N;K>NBE ZyYxZ[( bW_iiWdj
_cOb`S S\TO\ba2 7ZOW`S% 6`WUWbbS% F]aSZf\S
[j :dje_d[* Bb WlW_j \W_j u :dje_d[ kd[ Ze)
dWj_ed [d WlWdY[c[dj Z#^e_h_[ Z[ .,, ,,, ?*
'' '
-Lb
&
J]WZl% d]WZl% d]WZl'
Bb d[ h[ij[ fbki Wbehi gk#u Zedd[h
ZS QT<2!$ ^`S\R`S a]\ pZO\ Sb aS XSbS` nb#[Wk $Zyi b[ bkdZ_ cWj_d( ,4 ^ ,,% )
Geki Wledi ik ]WhZ[h bW jzj[ ^ehi Z[ b#[Wk
`kigk#Wk l[dZh[Z_ ie_h .. ^ ,,*
b[i
b[i
\kj
Z[*
E[i _d\_hc_[hi( b[i f^eje]hWf^[i(
[]\WbSc`a RS a^]`ba% ZSa QVOcTTSc`a%
QcWaW\WS`a% b]ca d]ca RW`]\b _cS QS
c\S PSZZS OdS\bc`S Sb _c"]\ S\ `SRS[O\&U++
+:?< @:= 4D>3=!0/9;?3>=B>C1:883 &6@3<
+39=3A ; 7/ 57/13
JS\bS S\ U`]a Sb RS[W'U`]a ^]c` Q]\UqZObSc`a
Jk[bgk[i Yecfj[)h[dZki( fbki_[khi
fW][i Z[ hyikbjWji [j kd[ ]hWdZ[ iWj_i\WY)
bW]\ RS[Sc`S\b ^]c` S\ bp[]WU\S`'
D]c` Q]\QZc`S% c\S O\SQR]QbS aWU\W&
\_YWj_l[ Z[ b#[ifh_j ifehj_\ ZWdi b[gk[b
aS a]\b Rp`]cZpSa ZSa `S\Q]\b`Sa 2 [S`Q`SRW
,3 cWhi( l[hi -5 ^ ,,( Wk ]ocdWi[ EB;>KM>(
i[ h[dYedjhW_[dj b[i ygk_f[i Z[ ^eYa[o [d
iWbb[ Z[ <:F;K:B [j Z[ b#>Yeb[ _dj[h)Whcy[i
Z[i ifehji Zr ?HGM:BG>;E>:N* I[hiedd[( d_
[hb X]cSc`a% \W ZSa a^SQbObSc`a% \W ZSa
Z[kn WhX_jh[i d#edj fk c[ Y[hj_\_[( b[
iYeh[ \_dWb Zk cWjY^ Jk#_cfehj[ E[i
ifehj_\i edj ]W]dy*
7S []RSabS O`bWQZS \S d]ca R]\\S`O
fWi bW ]h_i[h_[ Z[i `ekhdy[i !LIHKML )
:KF>>L ) C>NG>LL>!* FW_i i_ leki b[ lekb[p(
Z"O\\pS ^`]QVOW\S '''
Leki)E_[kj[dWdj HMMH
H\\_Y_[h Z[i ifehji Z[ bW ;: -,/
HCIH9G ;@579G 5 9ADCFH9F
uJ57<9F=BG
zGCF69HG
z :FI=HG ;=JFkG
u 75:k @=k;9C=G
u D5F:5=HG
z75GG589G
u5;B95IL D5G75@G
z7C@CA69G ;@57k9G
u 69F795IL
u 6m7<9G 89 BCl@
zD=j79G ACBHk9G
4h `cS Rc EcO`bWS`'RS'7OdOZS`WS75A6F5= ' HqZ(1*(,,(-2
+*
$
i
HI?F * OH Q??E*?H> =IGG? F?M ;ONL?M >j b[i !@h_bbedi! Yecc[dY[dj b[i hed)
Z[i Wl[Y b[i !Ihe\[ii_edd[bi!( E[i Y^_[di
i[ iedj Xheiiyi b[i Z[dji Wl[Y !L_]dWb!
fekh d#zjh[ gk[ fbki lW_bbWdji .
Bb [ij -1 ^ 01 Y[ ./ ZyY[cXh[ -54/*
: b#[djhy[ XWi[ b#ygk_f[ Zk @*B*B $]hekf[
Z#_dj[hl[dj_ed _ccyZ_Wj[% [j ,,@]cUa iedj
Zy`u [d fbWY[*
:hc[i Wkn fe_d]i( b[i o[kn f[hwWdjiYecc[ Z[i CCCF!)b[i eh[_bb[i jhWdi\ehcy[i
U] !HQTQa!' c^db) b^]c U] Q[UacU' _aqcb l_dj[hl[d_h [j l Zy\[dZh[*
EW ;Wi[ Wyh_[dd[ -,/ i[ l_Z[* Bb [ij c_dk_j( Y[ .0 ZyY[cXh[ -54/*
FyYWdei( f_bej[i( f[hiedd[bi WZc_)
d_ijhWj_\i i#[d ledj \W_h[ bW \zj[* EW
\zj[ Z[ Ge{b( Y[ m[[a)[dZ fWi Yecc[ b[i
Wkjh[i( iWk\ fekh gk[bgk[i f[hcWd[dji Z[
bW Y[djhWb[ yb[Yjh_gk[( b[i fecf_[hi [j
fekh kd i[hl_Y[ gk_ h[ij[ [dj_[h( b[ <RGH(b[ @KB [j b#>*I*
>j b[i ^[kh[i fWii[dj _dj[hc_dWXb[i*
Jk#[bb[ [ij be_d bW Y^Wb[kh Zk feij[ )
<#[ij Zkh Z[ ]WhZ[h b[ cehWb FW_i _bi
iedj bkY_Z[i Y[kn gk_ l[_bb[dj [j _bi iW)
l[dj YecX_[d b[kh c_ii_ed [ij l_jWb[ 7 [j
cWb]hy bW Xekb[ gk_ h[ij[ Ye_dYy[ ZWdi b[
\edZ Z[ bW ]eh][ Wkn Zekp[ Yekfi Z[ c_dk_j(
_bi ]WhZ[dj b[ czc[ !GehZWdjccz
:k I< IKH=>?( b#WYj_l_jy [ij \yXh_b[*
Ibki gk[ jekj Wkjh[ m[[a)[dZ( Y[kn Z[i \zj[i
deki h[dZ[dj fbki lkbdyhWXb[i FW_i b[ Y^[\
W fWhby* Bb W \W_j ied Xh_[\_d]( i[i WZ`e_dji
edj jhWdic_i b[ c[iiW][* <^WYkd YeddW|j iW
c_ii_ed( jekj b[ cedZ[ [ij fWhy( ]ed\by lXbeY Mekj Ze_j i[ fWii[h iWdi WkYkd _dY_)
Z[dj*
>d\_d( b[ m[[a)[dZ [ij \_d_* Geki
iecc[i bkdZ_ [j jekj iB[ij X_[d fWiiy*
FW_i Y[ ie_h( Zehc[p jhWdgk_bb[i Xedd[i
][di( _bi i[hedj [dYeh[ bu( u l[_bb[h fekh
lejh[ iyYkh_jy .1 ^[kh[i ikh .0*
:if_hWdj ?B>=E>K
<;L ;==O?CF
=B;G<L?M >? 6- ; .32 @
J;L= =;FG?
=ZdSWZZSac` d]b`S a][[SWZ
A]bSZ I@MG34 iflk\ [;LL;M
261-- =;G<L;C
k\c750+50+/298F8KC< =[5$6)@cUTU :U]caU
..
s
,%)"/'. =Z./,#*+,:.% "55%--"&
EW\[NZ[A= Z\Y TJCNVJ\T[ ,, E\YKW'5LLdTdYJ[RWVZ34! MN) l *)) BD$K@!UW[N\YE\YKWMd]NTWXXJV[*). LQ8;@ #22 SH ;DA#%XWRV[NZMN,31 SU(Q Z\Y LRYL\R['>J CNVJ\T[ ,, E\YKW]W\Z J[[NVMXYe[Nl XJY[RY'BYR L̂TdZ&NVUJRVQd *+'),'1- 30/2)) 9' CNVJ\T[ ,, l XJY[RYMN-2))) 9' ?RTTdZRUN3/) 7WVZWUUJ[RWVZVWYUNZFE573 1'- >b 2) SU(Q%2'4 >b *+) SU(Q%3'4 > NVL_LTN\YKJRV'
" 3"'4''#,"'
d]b`S Q]\QSaaW]\\OW`SF9B5I@H '
C2>24 +))& `]cbS RS G]ZSa[Sa HqZ(1,(1+(./-& OdS\cS RS JOZS\QWS\\SaHqZ(1,(0)(0)
/1
jNrCHO.
GHC=F9 8I 75A6F9G=G %gZi=TNSPU 3XNZ^P]#
@5 ACFH 89 @"<5I:HA5BB CGK5@8 6C9@7?9 bW Y^kj[ ZWdi b[ Xe_i Z[ @K>O>BEE>KL fhxi
Z[ ;:I:NA>*
@O P]rbS Q`O\WS\\S S\T]\QpS%
;H>E<D> [ij cehj _dijWdjWdyc[dj* Iekh
;H>AG> Y#[ij bW YWjWijhef^[* Bb i[hW
_dYWfWXb[ Z[ leb[h f[dZ Wd k gk[bgk[i j[cfi
bO\b WZaS Q`]Wb Q]c^OPZS' I\S Q][[WaaW]\
i[hW \ehcy[ [j b#[dgkzj[ b[ XbWdY^_hW*
E#>cf[h[kh Zedd[hW b#ehZh[ Z[ XWfj_)
i[h bW C:@LM: BB 6 C:@LM: ;H>E<D>*
@9G :IB9F5=@@9G 5 75A6F5=
E[i :bb[cWdZi \edj u b[kh :i Z[
U`O\RW]aSa Tc\p`OWZZSa' @O Qp`p[]\WS O
b_[k l bW YWj^yZhWb[ Z[ <:A;K:B*
EW ]hWdZ[ d[\ W yjy ZyXWhhWiiy[ Z[
aSa QVOWaSa' @S QS`QcSWZ Sab Rp^]ap e Z"S\&
jhy[ Zk Y^e[kh* Bb Z_ifWhW|j ieki kd[ ced)
jW]d[ Z[ \b[khi*
;H>E<D> [ij cehj ;H>E<D> [ij cehj
@]`a_cS ZS Q]`boUS a]`b RS Z"pUZWaS%
b[i YbeY^[i ck[jj[i Z[fk_i i_ bed]j[cfi(
a]\FS\b e b]cbS d]ZpS' Frj `pdS`Po`Sa OZZc&
[pa a]\b d]WZpa RS Q`q^S'7][[S c\S b`Or\pS RS ^]cR`S ZO \]cdSZZS aS
`p^O\R' @Sa 5ZZS[O\Ra iedr ObbS``pa' @"Oa
Oce +' dWQb]W`Sa Sab [C`b'
'B"]cPZW]\a ^Oa _cS \]ca a][[Sa S\
]Qb]P`S )1). Sb _cS Z"OdWObW]\ Q][[S\QS
aScZS[S\b n RSdS\W` c\S O`[S RS Q][POb'
E[i ][di Zk ieb iedj yc[hl[_bbyi fWh b[i
^`]cSaaSa RSa V][[Sa _cW Q][PObbS\b RO\a
b[ Y_[b*
8S^cWa Z"W\bp`WSc` RS ZO QObVpR`OZS%
Sb ac` b]cb ZS ^O`Q]c`a Xca_c"l ZO UO`S%
bS\RcS RS \]W`% RSa b`]c^Sa T]\b ZO VOWS '
GWe QVSdOce b`Or\S\b Z"OTTub RS QO\]\ ac`
b[gk[b [ij fbWYy b[ Y[hYk[_b*
0, l_Yje_h[i [d eYjeXh[ -5-2( Y[bu
Sab p\]`[S' 6WS\ S\bS\Rc% ^Zca bO`R R"Ocb`Sa
\hWdY^_hedj Y[ Y^_\\h[ 6 @NRG>A>K 6 1/ [d
i[fj[cXh[ -5-3 ) GA@ KB<AMH?>G !E[ ;Whed
hek][! 6 4, [d Wlh_b -5-4 ) A:GGH<D b#:ki)
b`OZWS\ _cW ac`dWd`O%j S\ Oc`O /+ l ZO TW\
Z[ bW ]k[hh[* K[dy ?HG<D b[ ?hWdwW_i WkhW
ZcW OcaaW c\ b`oa PSOc ^O)[O`pa OdSQ /-
O^^O`SWZa l Z"O`[WabWQS'
8SdO\b a"OdO\QS\b 'RSa ZO\QWS`a% ^cWa
RSa TO\bOaaW\a% c\ ]TTWQWS` ^]`bO\b ZSa
RpQ]`ObW]\a ac` c\ Q]caaW\% c\S [caW_cS
[WZWbOW`S% Sb c\ ^OabSc` ^`]bSabO\b'
8S``Wo`S ZS Q]`^a% c\ []\aWSc` S\
\]W` Q]WTTpj R"c\ QVO^SOc VOcb RS T]`[S%
c\ U`O\R \][P`S R"]TTWQWS`a% Sb c\S RO[S
S\ d]Wbc`S% S\ U`O\R RScWZ SZZS OcaaW'
>d eYjeXh[ -5-2( b[i \kh_[kn YecXWji
[d]W]yi b[ -[h `k_bb[j ikh bW Lecc[ Zkh[dj
jek`ekhi* EW CW]ijW\\[b BB [ij XWiy[ u
E:@GB<HNKM* E[ I*< i[ jhekl[ u ;>KMBG<HNKM*
8Sce OdW]\a pd]ZcS\b Oc RSaaca Rc
Q]`boUS _cW ZS\bS[S\b ^O` ZO `cS RSa
@W\WS`a% Sb ZO ;`O\R"DZOQS UOU\S ZO UO`S
e~ b[ Y[hYk[_b [ij fbWYy ZWdi kd mW]ed gk_
b[ jhWdifehj[hW [d :bb[cW]d[*
;H>E<D> W .1 Wdi [j YeccWdZ[ bW
>5; ==' G]ca aSa ]`R`Sa% Z"pZodS _c"WZ O
\ehcy( FWd\h[Z GA@ KB<AMH?>G( gk_ bk_ ikYYy)
RS`O' 7S RS`\WS` TOWb p_cW^S OdSQ ZS XSc\S
;H>AF>* JkWjh[ c_ii_edi edj [k b_[k b[
cWj_d Zk .4 eYjeXh[( [j Wk ZyXkj Z[ b#Wfhxi)
[WRW ZSa ]PaS`dObSc`a aWU\OZS\b Z"O^^O`W&
bW]\ R"OdW]\a rd]bW_i Oc RSaaca RSa b`O\&
Y^y[i* L_n :bXWjhei =. fh[dd[dj b#W_h* I[k
Wfhxi bW fWjhek_bb[ ;H>E<D>( KB<AMH?>G(
;H>Ar€ Wf[hwe_j . :d]bW_i* E[ ;Whed hek][
[d]W][ b[ YecXWj Wl[Y b#kd Z[kn* ;H>E<D> [j
;H>AA> gk_ leb[dj jhxi fhxi b#kd Z[ b#Wkjh[
^]c`acWdS\b ZS aSQ]\R _cW ^W_cS ^]c` aS aOc&
l[h* : Y[ cec[dj b#WZl[hiW_h[ Z[ KB<AMH?>G
[]\bS `O^WRS[S\b Sb ^OaaS RO\a ZS aSQbSc`
Z[ ;H>E<D> [j ;H>AF> gk_ yl_j[dj bW Yebb_)
aW]`b' AOWa Oc Q]c`a RS ZO [O\]Scd`S% ZS
jhW_d Z#Wjj[hh_iiW][ Z[ ;H>AA> W jekY^y
Z"OWZS ac^p`WSc`S UOcQVS RS ))OdW]\ RS
;H>E<D>( [j b[ Xekj Z[ b#W_b[ [ij WhhWY^y*
@Sa VOcPO\a R"]aaObc`S a]\b QOaapa Sb ZO
je_b[ leb[ Wk l[dj* ;H>E<D> Yekf[ b[ YedjWYj
[j [iiW_[ Z[ Z[iY[dZh[ [d leb fbWdy* Bb
RWa^O`OWb rWdi ZSa \cOUSa' 9b PWS\bGb Q"Sab
@S ZS\RS[OW\% RSce OdW]\a% Z"c\
:`O\nOWa Z"Ocb`S 5\UZOWa dWS\R`]\b XSbS`
c\S Q]c`]\\S RO\a ZSa ZWU\Sa OZZS[O\RSa%
`S\RO\b OW\aW V][[OUS l ZSc` ORdS`aOW`S'
EcO\b Oce RpQ]`ObW]\a RS b#AWk\jcWdr
HimWbZ ;H>E<D> [bb[i iedj jek`ekhi Yedi[h)
ly[i Wk Akiy[ Z[ <:A;K:B*
I^ejei Yebb[Yj_ed A_Y^[b ;:<JN>M
.1
@97C=B 8I ;5GHFCBCA9
?>NBEE>M> => ?KNBML => F>K
@Whd_jkh[
) <ekf[h b[i \_b[ji Z[ ieb[ [d gkWjh[*
) =yjWY^[h b[ YehW_b Z[i de_n( [iYWbef[h
b[i de_n [d Z[kn*
) :iiW_iedd[h jeki b[i \hk_ji Z[ c[h iWk\
b[i cekb[i*
@Whd_h b[i hWc[gk_di
) / cekb[i $dWff[h Wl[Y bW iWkY[%
) . cehY[Wkn Z[ ieb[
) . gk[k[i Z[ bWd]ekij_d[
) . -+. de_n Z[ LW_dj CWYgk[i
) - YehW_b
) >ijhW]ed ^WY^y*
JkWdj_jy fekh i_n f[hiedd[i <Wii[h kd e[k\ ZWdi kd hWc[gk_d( XWZ_)
][edd[h b[i XehZi [njyh_[khi Z[i (hWc[)
gk_di $yjWb[h bW fvj[( ZyYekf[h Z[i
hedZi fbki ]hWdZi gk[ b[i XehZi Z[i hW)
c[gk_di%
) LekZ[h bW fvj[
) =eh[h b[ Z[iiki
) G[jjh[ Wk \ekh 6 j^[hceijWj Wk !4!
f[dZWdj ., c_dkj[i*
) -(1 - Z[ cekb[i
) -. bWd]ekij_d[i
) 2 Yegk_bb[i LW_dj CWYgk[i
) - ieb[ [d \_b[ji
. jecWj[i
) - Yk_bb[hy[ l iekf[ Z[ YedY[djhy Z[
jecWj[i
) - Yk_bb[hy[ l iekf[ Z[ h_p
) - Yk_bb[hy[ l YW\y Z[ i[b
) - Yk_bb[hy[ t rW\y Z[ ikYh[ [d fekZh[
) / Yk_bb[hy[i l iekf[ Z[ Yhxc[ \hW|Y^[
) /,, ]hi* Z[ fvj[ \[k_bb[jy[*
AWY^[h \_d[c[dj
6<64DB?=6>286B-0 adU TUbBY\YUab
J)23)--)-1,,(,. adU=U]U[^]
J)3,)--)1+
,Ua I<HL@:<) -+. e_]ded( - YWhejj[( - yY^Wbejj[(
Xh_d Z[ ryb[h_( . ]ekii[i ZjW_b* 8FH<I L<DJ<) - Xekgk[j ]Whd_ $gk[k[i Z[ f[hi_b( j^oc(
bWkh_[h%
-1 [b Z[ l_d XbWdY
) ., [b Z#[Wk
) . Yk_bb[hy[i l iekf[ Z#^k_b[
) - ]hei \_b[j Z[ Ye]dWY
) [ijhW]ed( \[k_bb[i&/;62>
LWkY[
?W_h[ eklh_h b[i cekb[i l i[Y( b[i
ZyYegk_bb[h( hyi[hl[h b[ `ki*
) >gk[kj[h b[i bWd]ekij_d[i $iyfWh[h bW
gk[k[ Z[ bW jzj[ t Yhk%*
) K[j_h[h b[i YWhYWii[i Z[ bW gk[k[*
) I_b[h b[i jzj[i [j b[i YWhYWii[i Z[i
gk[k[i*
) ?W_h[ h[l[d_h l b#^k_b[( yYhWi[h l \edZ*
) :`ekj[h bW ]Whd_jkh[ Wh}cWj_gk[ 6 e_]dedi
YWhejj[i( yY^Wbejj[( Yyb[h_( W_b*
) :`ekj[h b[ `ki Z[i cekb[i ZWdi b[i YWhW)
fWY[i ' Ye]dWY( ikYh[ [d fekZh[( i[b(
h_p( YedY[djhy Z[ jecWj[i( Xekgk[j ]Whd_(
l_d XbWdY*
) Iehj[h l yXkbb_j_ed( fe_lh[h \ehj[c[dj(
W`ekj[h b#[Wk*
) <k_h[ ., cd( fWii[h bW iWkY[( cekb_d[h*
) :`ekj[h bW Yhxc[( cybWd][h( \W_h[ Xek_b)
b_h by]xh[c[dj $1 cd%*
) IWii[h bW iWkY[ l b#yjWc_d[*
;< ;@<JH@:? ( I:?EB J<I
I@<C<DI ( B@D:EBD ( 9EI:?
<B<:JHEBKM ( C@<B<
.2
Ho[p( ][dj[i ZWc[i( deXb[i Y^[lWb_[hi(
EW XWbbWZ[ Z[ F[ii_h[ KebbWdZ( YeddyjWXb[ Zk AW_dWkj
@hWdZ cW|jh[ Z[i ][di Z#Whc[i Zk @>KFW< [j i[i Wj[b_[hi
Bdgk_i_j[kh Z[ b#>KM( Z[ i[i lebWdji [j Z[ i[i d_l[Wkn*
=k fhyi[djr d[dd_( d#[d fWhb[hedi(
=[ lejh[ Wl[d_h( jekj jhWYy( Z[ Ykh[ d#[d Wledi(
E[ fWiiy( iWdi jWh_h( Yecc[dj[hedi(
<Wh Z[ Y^ei[i ikh leki( r dWhh[h( hW\\ebedi*
Iekh i[ \W_h[( kd f[k [d Whh_xh[( h[l[dedi
:\_d gk[ jeki r b#[ifh_j( Woedi
E[i yjWf[i Z[ lejh[ YWhh_xh[( leky[ X_[d i•h l b#Wl_Wj_ed
GW_i Wk <WcXhyi_i Wkii_( lejh[ \_[\( fekh jekj Z_h[( lejh[ XWij_ed*
=Wdi bW \Wc_bb[ WyhedWkj_gk[( l b#yfegk[ ]Wbbe)hecW_d[( leki [djhvj[i
Gyhely[( `kij[ deccy YWfehWb)Y^[\( YejdB -[XWjedd_[h( leki [•j[i
=[ bW ]hW_d[ Z[ XWjjWdj( jekj Z[ ik_j[( leki leki hylybvj[i
L_ X_[d gk#Wk Xekj Z[ Z[kn Wdi( Z[ ]k[hh[ bWii[( _b W \Wbbk gk#ed leki ckj[*
=#^ecc[ Z[ L:EHG( ^ecc[ Z[ j[hhW_d( leki Z[l|dj[i(
>d\_dr leki [njyh_eh_i[h l lejh[ W_i[( leki f•j[i(
>l_Z[cc[dj( r b#[iYWZhed( jekj `[kd[ W\\[Yjy( leki d#yj_[p fWi b[ if^_dn(
FW_i lei gkWb_jyi \edY_xh[i( [d WlWdj( leki c|j[i( dkb d[ b[ hy\kj[*
KWf_Z[c[dj( b[i WhYWd[i Z[ b#WyheZodWc_gk[ $Z[ ]hekf[%( leki cW|jh_ivj[i(
Iekh b[ `kij_\_[h( l b#>gk_f[ j[Y^d_gk[( leki Wbbvj[i
Nd Xed cec[dj( [djh[ deki( gk[ leki fWiivj[i(
>dik_j[( Wff[by l Z#Wkjh[i \edYj_edi( leki ZycydW][vj[i*
<ecc[ jekj b[ cedZ[( [d fyd_j[dY[( leki leki h[jheklvj[i(
=[l_d[p e~( ek_ [d fb[_d ZWdi b[ c_bb[( u :BK =BKrrM(
Eu)XWi( hWf_Z[c[dj( lei ^kcWd_jyi( leki \|j[i
>j <Hcc[ Y^[\ LM( l <:F;K:B [dYeh[( ikh\WY[ leki h[\|j[i*
=y`u cWhgky[( lejh[ [cfh[_dj[ ikh bW XWi[( leki [d\edwvj[i
<#[ij bu gk[ b[i ][di Z[ bW -. lyYkh[dj j[bi Z[i ifWhj_Wj[i
Gkbb[c[dj jhekXby( jek`ekhi fbki be_d( leki c[dvj[i
<[jj[ ^ehZ[ Wk fWi Z[ Y^Wh][ iWdi `WcW_i Yh_[h ^Wbj[*
Bb \Wkj Yhe_h[( gk[ jeki( ieki lejh[ Yekf[( W_cxh[dj
Mekj b[ j[cfi( iWdi h[Y^_]d[h( _bi leki b[ fheklxh[dj(
=[ YWcfW]d[ Z[ j_h [d ylWbjWY( Z[ Yekf[ <:?=: [d M_][h F[[j
rWdi Y[ii[( b[i c[_bb[khi _r \kh[dj [j X_[d ^Wkj( leki b[ Z|j[i*
=k Yekf( [d hyYecf[di[( Y^[ ] Z[i -)-M(deccy( leki ]y j[i(
Meki b[i fekle_hi Z[ bW cyYWd_gk[( [d XbeY( leki h[wrj[i(
Oei WZ`e_dji( kd fWh kd( leki WXWjj|j[i( leki b[ii_lvj[i(
LWdi fWhW|jh[ leki Wf[hY[le_h Z[ lejh[ _dY[iiWdj Z_ajWj*
Mekj[\e_i( b[i Z[hd_[hi [d ZWj[ iedj Yeh_WY[i(
>j Yecc[ leki( Wk jhWlW_b( WYYheY^[khi( fk]dWY[i(
AWb]hy lejh[ [dl_[ Z[ b[i c[d[h YedijWcc[dj u bW ?*H*M(
Bbi ]WhZ[dj lW_bbWcc[dj bW \e_ [j bW jzj[ ^Wkj[*
Nd[ \e_i( Z[ fbki( l[hi Z[ dekl[Wkn ^eh_pedi( lei _Zy[i ledj leb[h(
Nd[ fbWY[ Z[ Y^e_n leki Wjj[dZ( leki b#Wl[p cyh_jy[(
=Wdi dei Ye[khi( bed]j[cfi leki h[ij[h[p(
<ecc[ yjWdj b[ c[_bb[kh i_ded b[ fh[c_[h*
: Y[ j_jh[( _Y_( Y^[p leki i[h[p $cW_i d[ b#*Wl[p leki fWi jek`ekhi yjy%
=y`u( Xekh]c[ijh[ Z[ <:GMBG( leki yj_[p
I[hc[jj[p)deki( l lejh[ fWdefb_[( [d hW`ekj( Z#WYYheY^[h
E[i Ybyi Z[ bW ;: -,/ ;_i [d jWdj gk[ ]ydyhWb \[hc_[h*
GejW b
G[ deki [d l[k_bb[p fWi Z[ Y[jj[ fhei[ i_ f[k Yedl[dj_edd[bb[
>d Z#Wkjh[i Y_hYedijWdY[i( deki [kii_edi yjy fbki ieb[dd[bi
>j cWb]hy Z[i WffWh[dY[i jhecf[ki[i le_h[ _d^WX_jk[bb[i
Geki d#ekXb_edi ikhjekj fWi gk[ leki zj[i dejh[ fxh[ if_h_jk[b*
GejW .
LekY_[kn Z[ leki Yedi[hl[h [d b#yjWj( j[b gk[b
IWh Z[bu bW h[jhW_j[( gk_( Yecc[ l jeki( leki ]k[jj[
Bb deki \WbbW_j f[di[h l Wiiekl_h lejh[ f[hfyjk[b [ifh_j(Z[ Yedgkzj[
Geki Wledi jhekly( [d hy\[Yj_ed( leki Wkh[p b[ Y^vj[Wk Z[ L>b*b*>L*
E_[kj[dWdj IK:G=B
>gk_f[ j[Y^d_gk[ Lkf[h 1/,-2
, ?F?=NL$I>? ; OH ?RV
F?DB:>DHZ7==B<+ >O?r2 ) BE: ::EF:
.1-)) 75A6F5=D:U/ 1*(-+(+1
s
, I8DI H<>H<JI <J<HD<BI #I)H)<)$
KWZWh cWkZ_j(
Mk d#Wi `WcW_i ik fekhik_lh[ b[i eX`[Yj_\i
gk_ j#yjW_[dj Zeddyi(
FW_i jk Wi ik W]WY[h Wk ikfhzc[ Z[]hy b[i
Yedjh}b[khi Z[ <:F;K:B( Mk b[i Wi fekhik_l_i
Z[ j[i cWby\_Y[i( _dbWiiWXb[c[dj*
>ifh_j cWb_d( j[i fbWdi edj yjy Zy`ekyi*
<Wh b[i Yedjh}b[khi Z[ <:F;K:B edj WYgk_i(
]hvY[ t je_( kd _d\_d_ cyj_[h( [j edj ik(
cWb]hy j[i _dZ_YWj_edi [hhedy[i( hWc[d[h(
Wc[d[h ) :F>G ) FB>G ) :F>G jeki b[i Wl_edi
Wk d_Z*
:behi( YWbc[c[dj( hyiebkc[dj( deki j[ Z_iedi
O:=> K>MKH( L:M:G:L
:bWZ_d( jk d#[i fWi [dYeh[ jekj l \W_j bu(
FW_i jW bWcf[ i[hW fekh deki jeki kd f^Wh[
gk_ deki f[hc[jjhW Z[ h[l[d_h Wk fehj*
J]b`S 6AK& [OW\bS\O\b(D]c` *,)) : ^O` []Wa(
>l k! ]vmi`\i Xl 0- cW_-540(<GQ @`eXeZ\d\ek mflj gifgfj\ le\eflm\cc\ ]fidlc\8 jgvZ`Xc\d\ek d`j\ Xl gf`ek gfli mflj g\id\kki\[$XZhlvi`i) [uj dX`ek\eXek)mfki\ <GQ+<GQ 0.3 / gfik\j7 432-- @%gi`oZcvj \e dX`e Xl -.+-.+.661&+>vgxk /-# jf`k .20-- @+/1cfp\ij [\ ./6/)52 @)gl`j03.-p\ij[\ .564)/- @+=fyk kfkXc[$XZhl`j`k`fe7 ..1 3/4)3- @N+N+=+PXc\li [\ iXZ_Xk]`eXc.20-- @Zflm\ik\ gXi c\ [vgxk+ Mflj ivj\im\ 6AK ,*/[$XZZ\gkXk`fe [\ mfki\ [fjj`\i gXi <GQ @`eXeZ\d\ek+ z
GC8570, Kk[ <Wdj_cfhy Jp[) 4/*,1*5,
:8C9H8@ F\ gkX`j`i [\ Zfe[l`i\+
.4
89:=\^[ UP
4E:B
89BCM9@@942=3B2:
dX^Xj`e jgvZ`Xc`jv
gcXZ\ ;) <i`Xe[
k\c7 5.)01+56
T@IOP?HCLr
VVrKL -520* Bdif[Y c_ed Zk @<: ;:KMA>E>AR*O_i_j[ Zk @<: >S:GH*
<HE ;K>M ) <=M <HNMh:N*
<HE ;K>M ) <G> #)((%+'% ! <G> ?HK@>M 8LH@B (.,+ K[c_i[ Z#_di_]d[ Wk -+-.
) EMM DHLA:LDB
<G> D:E?HG ) :=< M:GMR ) L@< =>;HN=M ) L@M =>E:NG:R V
(@M =HN<A>M <j% L@M =NKB>S*
=N;KNEE> ) L@< <HN@G>:N ) EMM P:EEB>K )
;b:G<AB ) EMM <A:LL:BG@ ) L@< $&"*+'( !
F>F:NM ) @G> ?HKKBLB>K ) <=M @N>KBG )
<G> A:;B< ) <G> ?EH<A ) <G> FH<A>MM:*
).
I)H)?) .1*,+.
Nd[ _cW][ \WdjW_i_ij[ <[bW i[ fWii[
Oc :]fS` RSa OdWObSc`a 2
& @cW 2 c\S XSc\S `SQ`cS%
) >bb[6 kd[ Wffh[dj_[ Ye_\\[ki[
$[d Z[kn_xc[ Wddy[%*
>^ ek_* Z[fk_i b#_dYehfehWj_ed Z[ bW
\hWYj_ed Zk Yedj_d][dj 4/+-,* kd[ Z_pW_d[
Z[ `[kd[i \_bb[i Z#kd[ yYeb[ Z[ Ye_\\kh[
Rc 8]cOWaWa dWS\\S\b \]ca R]\\S` c\ Q]c^ RS
UU^SWU\SU( U`ObWa'
EcOb`S dW\Ub RWe bqbSa !b][PS\b! Oc
rekhi R"c\ ^SbWb Wfhri)hd_Z_( aO\a c\ Q`W
Sb RO\a ZO P]\\S Vc[Sc`'
AE:>42:<<6B:6 % ?ED:<<286
@ 646C 5"ECEB6@?EB 28B:4E<DEB6r
2 ( 4' 4C:<> =L 4 3<KF;I>#
42=3B2:Jp[) 3,).1)4/ H) :) 1- 9 ,4
C&2&AE6>>6CC?>
21&`cS ;OcbVWS`&HqZ(#+0$1*(..(+1 Sb1*(,)(.) ' DO`YW\U3*02& `cS Gb'@QWR`S
.2-)) 75A6F5=
CP[[P\ OP_PW]P
4LVM[LT
/<C
8HH@ k<I
7 :TrLL> Ol[ CHER >l[bod[
r ;KBEE>F:G <^h_ijef^[E)r <:E=:BKHN A[dho
r L@< LMKN;;> :dZhy
<E< F:AHM M^_[hho<E< E><E>K<J I_[hh[
<E< =>G:K=B =_Z_[h<E< I>G=N C[Wd FWh_[
L@M @KHLLB>K>L ;hkde
L@< :EE:BL I^_b_ff[
LEM INMHBL =ec_d_gk[
:LI <HNLBGB> FWhY
<E< E:FHMA> C[Wd FWh_[
<E< C>:GC>:G Rl[i:=C @HNIR K[dy
:LI ?><AM>G;:NF >ZZo
<E< KHN@>FHGM I_[hh[
<E< I:R>M >h_Y
EMM ;HGG> ?HG E_ed[b
, :8HD<J ,
LM; 4.+-,/
FM -,+-,/
>< ,-+,-.
>< ,-+,-.
>< ,-+,-.
>< ,/+,-.@>KFWL -1+,-.@>KFWL -1+,-.
LM; 4.+-,/
@>KFWL -1+,-.
>< ,,+,-.
>< ,,+,-.>< ,.+,-.
FH ,1+-,/@>G=:KF>KB> :BK
>< ,,+,-.
=:FL -0+,5-
=:FL -0+,5-
>< ,.+,-.
7F@$>KK>0:E@E>
Q:IK@<C>JPHL@K:K@FE:C@D>EK:K@FEPHL@E>
Q;:@EJ>KKF@C>KK>J><?@>EJKFLK>JI:<>J
@<C>J>K:C@D>EKJ<?@>EJ>K<?:KJ
> >I@>=>0:EK@DGIP
: IL@DGIP*,)%% 0.2/5.1
#-2$ 3,)1/)1+
0.
J\W\SWRS\bTSSV\kZ^c 4
2YYPUPb
IE* h^tA hZ^NGAt
&)%K>I IFLK>=> 6FC>JD>J75?6C5; '
;<F8DD8><I #H8;@E' J<[<L@I@ED<[<:JHE(C<D8><H$ IEDEH@I8 J[ED
K[jhW_j[
K[jhW_j[
A:HK[jhW_j[
L:EHG => IKHO>G<>
K[jhW_j[
K[jhW_j[?_d Z[ YedjhWj
?_d Z[ YedjhWj
?_d Z[ YedjhWj
=K:<A>G;KHGG
:IM?_d Z[ YedjhWj
>OK>NQ
GBF>L
K[jhW_j[
K[jhW_j[
Z[ YedjhWjZ[ YedjhWj
Z[ YedjhWj
K[jhW_j[
K[jhW_j[
Z[ YedjhWjK[jhW_j[
Z[ YedjhWjZ[ YedjhWj
=CB;HNMB
?_d
?_d
?_d
?_d
?_d?_d
?_d Z[ YedjhWj
;<F8HJI
:=< ;:NI yf* LH;B><DB Fed_gk[
:=C ;HN??E>KL C[Wd FWh_[L@M ;KNG>M>:N C[Wd Eek_i:=C ;HNLJN>M FWhY[b
:LI <A:G<>E:=>L EHbYF:C <E:K>M I_[hh[
:=< <KN<J <^h_ij_Wd
<E< <BOB=BGH GehX[hj
<E< =NIK>S @kijWl[
<E< =>MHNKG:R IWjh_Y[
EMM =>IE:GJN> I_[hh[
L@< =>LA:R>L C[Wd CWYgkpi
<E< >EEBHM CWYgk[iL@< AN<J KeX[hj
<E< A:GB<J EWkh[dj
:=C C:=HM F_Y^[b
F:C C:KHLS K_Y^WhZ
L@M E>I:@> A[dh_
<E< E:GGHR Ljyf^Wd[
L@M F:@GB>S M^_[hho
:=C F:K<A> ?huda-_d
L@< F::@ yf( =>GBL :dd[)FWh_[
L@M FBL=:KBBL ;hkde
:=< F:@NBG C[Wd <bWkZ[L@M IBEE>M CWYgk[i<E< IHM:K= ;hkdeL@M KB<A:K= hWX_[d
<E< MAB>?:BG> :hdWkZ
>2:CC2>46C
=2B:286CIEN<B>GGBD >lW
=>EO:EE>S <yb_d[?:NK> >beZ_[
IHI: :khyb_[OBEE>FBGHM >j_[dd[
E> @:KK>< FWn_c[
<AHCG:<DB :b[nWdZh[
<K>IBG Ckb_[
=>L<A:FIL DWh[d
OBM:LL> @WhoDB< :cWdZ_d[
;>NK:>KM :dd[)Lef^_[<:GHGG> <^Whb[i
DHP:E<SND KWf^W{b
A:BG:NM >beZ_[
I:PEHPLDB <Wj^[h_d[
PHC<B><AHPLDB Lef^_[
=:@G>:N C[h[co
,3*-.*4/
,4*-.*4/,.*,-* 40
,/*,-* 40
-3*,-* 40
-3*,-*40
.2*,-* 40
--*,.*40
-1*,.*40
..*,.*40
.1*,.*40
.1*,.*40
.2*,.*40
,5*,/*40
-/*,/*40
-0*,/*40
.3*,/*40
.3*,/*40
.0*,/*40
>< ,.+,-.
>< ,-+,-.
>< ,/+,-.
>< ,.+,-.
FLI .,+-,/
-/*-.*4/
.,*-.*4/
.-*-.*4/,2*,-* 40
-0*,.*40
L@M I:IBHG <^h_ijef^[
L@< <A:M>E:BG =Wd_[b
:LI I:JN>M =_Z_[h
:LI IABEBI LoblW_d
L@M LNSBG>:N <eh_dd[
yf* E> <HKG><
L@M F>GN >j_[dd[ L: /,+-,/
@S :ZOaV \S dWb _cS ^O`
aSa O\\]\QSc`a'
FpaS`dSg ZSc` d]a OQVOba'
:X"Ubc UY]QeY]SXpTY]b SXpbY]aUcQaTb)0 >JKLE :M:E<PG:ID@C>J>E"I>K:I=J#@[]"Ubc _Qb caob \Q[Y]) ":'#
++r
42=3B2:/.
:XQs]U =aQ]nQYbUTd ;p\p]QWU\U]c
K]U QdcaUS^]SU_cY^] Td Tp\p]QWU\U]c
*>?G?H;A?G?HNM H;NCIH;OR * CHN?LH;NCIH;OR * IONL?*G?L*%=CPCF\k GCFCN;CL?&
F`miX`jfe [\ kiXejZfekX`e\i * AXi[\*d\lYc\j
$OO-E:O0)Ll\ [\ cX Lvj`jkXeZ\
261 -- =;G<L; . kvc7 50*5/7$./
9B :F5B79&
89A9B5;9
P?= rrkUUU
f [\m`j \k Zfej\`cj ^iXkl`kj l [fd`Z`c\
fle ZfekiXk [\ Zfe]`XeZ\ vZi`k
f le\ vhl`g\ \ogvi`d\ekv\ \k \]]`ZXZ\
f [\j [Xk\j t mfj d\jli\j
f[\j mv_cZlc\j ZXg`kfeevj
'Y