=
MK@XP LACCFEF AG LAKKFRLF & G@IMILF, RMILO@ MK@XP VI@WFR\@XP NOMRDOMIH, RMILO@
IXLL ZRANFLX RFZARX Lakpmiy Rfpart (Ms`mi Zm`its)
by
M\OVXA\O \@IEO (RACC IA-M<60:87=7:=7)
Mk`ty laccfef ag Lakkfrlf mih G`imilf Mk`ty Vi`vfrs`ty Nomrdomih Rmilo` Kaito & Pfmr KMRLO, 2:=?
2
Hflcmrmt`ai
Xo`s `s ta hflcmrf tomt to`s rfpart oms bffi wr`ttfi by kf. Ia pmrt ag tof rfpart `s pcme`mr`zfh grak atofr saurlfs. Mcc `igarkmt`ai `ilcuhfh grak atofr saurlfs omvf bffi hucy mldiawcfhefh. @ mvfr tomt `g miy pmrt ag tof rfpart rfp art `s gauih ta bf pcme`mr`zfh, @ somcc tmdf gucc rfspais`b`c`ty gar `t.
Msoutaso \`ieo M<60:87=7:=7
Zcmlf > Rmilo` Hmtf > :0-:<-2:=?
<
LFRX@G@LMXF
Xo`s `s ta lfrt`gy tomt to`s pranflt rfpart fit`tcfh –LAKZMIP RFZARX (M\@MI ZM@IX\) GP> 2:7-=5‛ 2:7-=5‛ subk`ttfh ta Mk`ty Vi`vfrs`ty Nomrdomih, `s m baimg`hf rflarh ag ward haif by –M\OVXA\O –M\OVXA\O \@IEO‛ uihfr ky supfrv`s`ai grak – =0XO GFB‛ ta – 0XO KMRLO‛
\`eimturf ag tof \upfrv`sar Zrag. \oavaim Lauhoury
Zrag. \oavaim Lauhoury @ihustry Eu`hf‐s Hfs`eimt`ai Hfs`eimt`ai
Zcmlf > Rmilo` Hmtf > :0-:<-2:=?
8
MLDIAUCFHEFKFIX
–@t `s iat pass`bcf ta prfpmrf m pranflt rfpart w`toaut tof mss`stmilf & filaurmefkfit ag atofr pfapcf. Xo`s aif aif `s lfrtm`icy ia fxlfpt`ai.‛ fxlfpt`ai.‛
Ai tof vfry autsft ag to`s rfpart, wf wauch c`df ta fxtfih ky s`ilfrf & ofmrtgfct abc`emt`ai tawmrhs mcc tof pfrsaimefs woa omvf ofcpfh us `i to`s fihfmvaur. U`toaut tof`r mlt`vf eu`hmilf, ofcp, laapfrmt`ai & filaurmefkfit, wf wauch iat omvf kmhf ofmhwmy `i tof pranflt.
Uf mrf fxtrfkfcy tomidguc mih pmy aur ermt`tuhf ta aur gmlucty Zrag. \aavmim Loauhory, gar o`s autstmih`ie tfmlo`ie, o`s vmcumbcf eu`hmilf mih o`s suppart `i lakpcft`ie to`s pranflt.
Uf fxtfih aur ermt`tuhf ta Mk`ty Vi`vfrs`ty Rmilo`, Nomrdomih gar e`v`ie us to`s waihfrguc appartui`ty ta cfmri mbaut tof iffh gar G`imil`mc Mimcys`s & lakpcfx`t`fs `i mi `ivfstkfit hfl`s`ai kmd`ie.
Miy ak`ss`ai `i to`s br`fg mldiawcfhefkfit hafs iat kfmi cmld ag ermt`tuhf.
Xomid Pau
6
@IHF_ \r Ia. Zmrt`lucmrs =. @itrahult`ai Abnflt`vfs Mimcys`s kftoahacaey 2. LAI\@CMHFXFH BMCMILF \OFFX AG GP
Zmef Ia. 7
5
2:=7 & 2:=5 <.
\tmtfkfit Ag Zrag`t mih Cass
0
8.
Lmso Gcaw \tmtfkfit
==
6.
=<
7.
@ilakf \tmtfkfit Mimcys`s ag Ms`mi Zm`its> Xrfih
5.
Rmt`a Mimcys`s ag Ms`mi Zm`its
=5
?.
Wmr`aus Rmt`a Mimcys`s
2<
Ermpo ai tof bms`s ag Rmt`a Mimcys`s =:. Lailcus`ai
26
0.
=6
<8
7
@IXRAHVLX@AI Ms`mi Zm`its C`k`tfh `s m cfmh`ie @ih`mi lofk`lmcs lakpmiy ofmhqumrtfrfh `i Kukbm`, @ih`m. U`to m turiavfr ag Rs =8: b`cc`ai, `t `s @ih`m's cmrefst mih Ms`m's to`rh cmrefst pm`it lakpmiy. Garbfs Ecabmc kmemz`if V\M rmidfh Ms`mi Zm`its mkaie tof 2:: Bfst \kmcc Lakpmi`fs `i tof Uarch gar 2::2 mih 2::< mih prfsfitfh tof 'Bfst uihfr m B`cc`ai' mwmrh, ta tof lakpmiy kmd`ie `t tof aicy pm`it lakpmiy `i tof warch ta rflf`vf to`s rflaei`t`ai. Ms`mi Zm`its kmiugmlturfs mih kmrdfts `ihustr`mc mih hflarmt`vf lamt`ies. Mcaie w`to tomt tof lakpmiy mcsa prav`hfs oakf pm`it`ie sfrv`lfs mih sacut`ais.
Abnflt`vfs Mlo`fvfh Xoraueo to`s g`imil`mc mllauit`ie pranflt wf Omh m g`rst omih fxpfr`filf ag mimcyz`ie g`imil`mc stmtfkfits. Lr`t`lmccy fxmk`ifh tof pfrgarkmilf ag Ms`mi Zm`its w`to `ts lcasfst lakpft`tar `.f. Bfrefr Zm`its. Absfrvfh tof cfvfc ag lais`stfily `i tof g`imil`mc pfrgarkmilf ag Ms`mi Zm`its. Vihfrstaah tof racfs ag tof vmr`aus ofmhs ag tof mllauits wo`lo mrf pmrt ag g`imil`mc stmtfkfits ag tof lakpmiy.
Mimcys`s kftoahacaey
Haif Xrfih mimcys`s, Wfrt`lmc mimcys`s, mih Rmt`a mimcys`s ag bato Ms`mi Zm`its mih Bfrefr Zm`its mih lakpmrfh fmlo atofr. Uf mcsa h`h tof garflmst`ie gar \mcfs mih Ift Zrag`t ag Ms`mi Zm`its gar tof ifxt g`imil`mc yfmr.
5
LAI\@CMHFXFH BMCMILF BMCMILF \OFFX AG GP 2:=7 & 2:=5 Zmrt`lumrs Zmrt`lumr s
<=.:<.2:=5
<=.:<.2:=7
M\\FX\ IAI-LVRRFIX M\\FX\ Zrapfrty, Zcmit mih Fqu`pkfit
2067.76
<:67.=6
Lmp`tmc ward-`i-praerfss
265.68
=:7.60
Eaahw`cc
=0=.?0
=0?.00
Atofr @itmie`bcf Mssfts
=6<.7=
=7=.2=
@ivfstkfit `i Mssal`mtf
<=0.?<
258.?<
Atofr @ivfstkfits
0?:.?2
?62
52.72
78.?=
G`imil`mc Mssfts @ivfstkfits
Camis Xrmhf Rflf`vmbcfs Atofr G`imil`mc Mssfts
8.?8 =00.82
<=.?6
Hfgfrrfh Xmx Mssfts (Ift)
=7.=7
=.?<
Lurrfit Xmx Mssfts (Ift)
?8.:=
=5.0<
22=.6<
68.?=
6868.:?
8?26.?8
2727.08
=00?.28
=<6=.<8
=6?6.<
Xrmhf Rflf`vmbcfs
=887.7
==?7.?8
Lmso mih Lmso Fqu`vmcfits
6?2.:?
<<5.82
Atofr Bmcmilfs w`to Bmids
2=0.=<
?7.5?
=5.??
2:.=<
82=.77
262.20
=8.00
8.86
2?6.:7
27<.65
7076.7?
65<6.:2
=2,8=0.57
=:,67:.?7
8=.:5
52.7<
5.:2
=:.72
Zrav`s`ais
=87.:<
=2=.<5
Hfgfrrfh Xmx Cm`b`c`t`fs (Ift)
<60.=0
207.?<
Atofr Iai-Lurrfit C`mb`c`t`fs
<.76
=.?2
665.=8
6:<.25
Atofr Iai-Lurrfit Mssfts LVRRFIX M\\FX\ @ivfitar`fs G`imil`mc Mssfts @ivfstkfits
Camis Atofr G`imil`mc Mssfts Mssfts lcmss`g`fh ms Ofch gar \mcf Atofr Lurrfit Mssfts XAXMC M\\FX\ C@MB@C@X@F\ IAI-LVRRFIX C@MB@C@X@F\ G`imil`mc C`mb`c`t`fs Barraw`ies Atofr G`imil`mc C`mb`c`t`fs
LVRRFIX C@MB@C@X@F\ G`imil`mc C`mb`ct`fs
?
Barraw`ies
6:8.8<
2<=.:?
<:.
2=.2<
Huf ta Atofrs
=?02.86
=68<.?8
Atofr G`imil`mc C`mb`c`t`fs
=:<0.50
0?:.5=
Atofr Lurrfit C`mb`c`t`fs
225.=8
2=?.?=
80.=<
67.0
=8=.66
07.6=
<=80.:?
=2,8=0.57
=:,67:.?7
Xrmhf Zmymbcfs Huf ta K`lra mih \kmcc Fitfrpr`sfs
Zrav`s`ais Lurrfit Xmx C`mb`c`t`fs (Ift) XAXMC F]V@XP MIH C@MB@C@X@F\
0
\tmtfkfit Ag Zrag`t mih Cass Zmrt`lucmrs
Rfvfiuf grak smcf ag prahults (`ilcuh`ie Fxl`sf Huty)
Ms ai <=.:<.2:=5
Ms ai <=.:<.2:=7
=7,?8?.=2
=6,725.=<
85.=5
<8.7<
=?0.85
=50.0<
272.7 =5,<8
2=<.<0
5.<7
=7,:66.:?
?,=:0.07
5,=08.?:
?6=.56
766.62
6<=.:5
=00.<<
Fxl`sf Huty
=,508.67
=,65:.2:
Fkpcayff Bfifg`ts Fxpfilfs
=,:?7.20
0?0.6=
Atofr Fxpfisfs
2,56=.?8
2,87<.=?
=8,:7<.<<
=<,:52.68
<,2?8.:<
2,0?2.68
<:.6?
8:.77
<
256.6?
2,0=8.7=
2,777.<:
Rfvfiuf grak smcf ag sfrv`lfs Atofr Apfrmt`ie Rfvfiufs Atofr @ilakf
XAXMC @ILAKF (@) F_ZFI\F\ Last ag Kmtfr`mcs Laisukfh Zurlomsfs ag \tald-`i-Xrmhf Lomiefs `i `ivfitar`fs ag g`i`sofh eaahs, stald-`i-trmhf mih ward-`ipraerfss
XAXMC (@@) FMRI@IE BFGARF @IXFRF\X, XM_, HFZRFL@MX@AI MIH MKARX@\MX@AI G`imilf Lasts Hfprfl`mt`ai mih Mkart`smt`ai Fxpfisf ZRAG@X BFGARF F_LFZX@AIMC @XFK\ MIH XM_ Fxlfpt`aimc @tfks ZRAG@X BFGARF XM_
62.86 2,0=8.7=
2,7=<.?6
?06.<2
?:=.7?
:.6<
=.<2
Xmx Fxpfisf (=) Lurrfit Xmx (2) K`i`kuk Mctfrimtf Xmx (KMX) lrfh`t ut`c`sfh/pm`h (<) KMX Lrfh`t fit`tcfkfit ag fmrc`fr yfmrs (8) \oart/(Fxlfss) tmx prav`s`ai gar fmrc`fr yfmrs 2.?:
-=.<2 2.?
-8.87
(6) Hfgfrrfh Xmx
80.<<
85.25
Xatmc tmx fxpfisf
085.0?
?88.80
=,077.7<
=,570.<7
80.7=
<<.82
2,:=7.28
=,?:2.5?
(m) (`) Rfkfmsurfkfit ag hfg`ifh bfifg`t pcmis
=6.<0
-:.5
(``) @ilakf tmx rfcmt`ie ta rfkfmsurfkfit ag hfg`ifh bfifg`t pcmis (b) Ift gm`r vmcuf em`i/(cass) ai ` ivfstkfit `i fqu`ty `istrukfits toraueo AL@
-8.<7
-:.:0
=<:.57
-=0.?6
-:.65
-:.5<
2.5<
:.6<
ZRAG@X MGXFR XM_ BFGARF \OMRF AG ZRAG@X AG M\\AL@MXF \OMRF AG ZRAG@X AG M\\AL@MXF ZRAG@X GAR XOF PFMR AXOFR LAKZRFOFI\@WF @ILAKF (AL@) (M) @tfks tomt w`cc iat bf rflcmss`g`fh ta \tmtfkfit ag Zrag `t mih Cass
(l) \omrf ag AL@ `i mssal`mtf (B) @tfks tomt w`cc bf rflcmss`g`fh ta \tmtfkfit ag Zrag`t mih Cass (m) (`) Ift gm`r vmcuf em`i ai `ivfstkfit `i hfbt `istrukfits toraueo AL@ (``) @ilakf tmx bfifg`t ai ift gm`r vmcuf em`i ai `ivfstkfit `i hfbt
=:
`istrukfits toraueo AL@
:.=5
:.<8 =?.=0
(b) Fxlomief h`ggfrfilf mr`s`ie ai trmiscmt`ai ag garf`ei apfrmt`ais XAXMC AXOFR LAKZRFOFI\@WF @ILAKF (M+B) XAXMC LAKZRFOFI\@WF @ILAKF GAR XOF PFMR
-=<7.88
=?.=0
5.7?
=?.=0
2,:2<.02
=?.=0
ZRAG@X GAR XOF PFMR MXXR@BVXMBCF XA>
=?.=0
Awifrs ag tof lakpmiy
=0<0.82
=?.=0
Iai-laitracc`ie `itfrfst
57.?2
=?.=0
2,:=7.28
=?.=0
AXOFR LAKZRFOFI\@WF @ILAKF GAR XOF PFMR MXXR@BVXMBCF XA>
=?.=0
Awifrs ag tof Lakpmiy
6?.0?
=?.=0
Iai-laitracc`ie `itfrfst
-6=.<
=?.=0
5.7?
=?.=0
XAXMC LAKZRFOFI\@WF @ILAKF GAR XOF PFMR MXXR@BVXMBCF XA>
=?.=0
Awifrs ag tof Lakpmiy
=,00?.8:
=?.=0
Iai-laitracc`ie `itfrfst
26.62
=?.=0
2:2<.02
=?.=0
Fmri`ies pfr fqu`ty somrf (Gmlf vmcuf ag j = fmlo) 8=
=?.=0
(=) Bms`l `i Rs
2:.22
=?.=0
(2) H`cutfh `i Rs
=?.=0
=?.=0
==
Lmso Gcaw \tmtfkfit Zmrt`lucmrs
Pfmr 2:=7-=5
Pfmr 2:=6-=7
(M) Lmso Gcaw Grak Apfrmt`ie Mlt`v`t`fs Zrag`t Bfgarf Xmx?
2,0=8.7=
2,7=<.?6
<
256.6?
=6.7
?.7
=.82
==.2<
G`imilf lasts
<:.6?
8:.77
Mccawmilfs gar haubtguc hfbts mih mhvmilfs (ift)
=8.?=
==.:0
:.<2
2.6<
@itfrfst `ilakf
<<.=8
22.8<
H`v`hfih `ilakf
5<.0
70.=<
Mhnustkfits gar> Hfprfl`mt`ai mih mkart`smt`ai fxpfisf Em`i ai smcf ag g`imil`mc mssfts kfmsurfh mt gm`r vmcuf toraueo prag`t ar cass (GWXZC) Em`i ai smcf ag prapfrty, pcmit mih fqu`pkfit (ift)
Bmh hfbts wr`ttfi agg
Atofr Iai-lmso `tfks Ift em`i mr`s`ie ai g`imil`mc mssfts kfmsurfh mt gm`r vmcuf toraueo prag`t ar cass (GWXZC)
80.8
@ilakf ai prfpmykfit ag cami
<.68
Hfgfrrfh `ilakf mr`s`ie grak eavfrikfit ermit
:.72
Ift uirfmc`sfh garf`ei fxlomief cass/(em`i)
=.?8
=:.0?
75.?8
=5.68
<,:66.68
2,?85.62
(@ilrfmsf) / Hflrfmsf `i @ivfitar`fs
72?.5
2:=.77
(@ilrfmsf) `i Xrmhf mih Atofr Rflf`vmbcfs
858.5
=86.?8
6::.60
=8=.05
2,862.5<
<,:86.<=
026.8
?:2.<7
=,625.<<
2,282.06
7?8.=<
?=5.==
=7.02
=8.0=
Zurlomsf ag `ivfstkfits
=62.56
2?2.<<
\mcf ag iai-lurrfit `ivfstkfits
2:0.68
2:8.?6
Zralffhs grak smcf ag lurrfit @ivfstkfits (ift) Ift `ivfstkfit `i bmid/tfrk hfpas`ts (omv`ie ar `e`imc kmtur`ty karf tomi torff kaitos)
=85.=8
Fggflt ag fxlomief rmtfs ai trmiscmt`ai ag apfrmt`ie lmsogcaws Apfrmt`ie Zrag`t bfgarf wardie lmp`tmc lomiefs
62.86 8<.?=
Mhnustkfits gar>
@ilrfmsf `i Xrmhf mih Atofr Zmymbcfs Lmso efifrmtfh grak Apfrmt`ie mlt`v`t`fs @ilakf Xmx pm`h (ift ag rfguih) Ift Lmso efifrmtfh grak apfrmt`ie mlt`v`t`fs (B) Lmso Gcaw grak @ivfst`ie Mlt`v`t`fs Zurlomsf ag Zrapfrty, pcmit mih fqu`pkfit \mcf ag Zrapfrty, pcmit mih fqu`pkfit
20?.5<
5:.2?
@itfrfst rflf`vfh
<2.:=
=8.55
H`v`hfih rflf`vfh
5<.0
7?.0
767.=
?77.20
Zralffhs grak iai-lurrfit barraw`ies
<=.=
7.55
Rfpmykfit ag iai-lurrfit barraw`ies
65.76
=.7<
270.28
=.70
Ift Lmso usfh `i `ivfst`ie mlt`v`t`fs (L) Lmso Gcaw grak G`imil`ie Mlt`v`t`fs
Zralffhs grak lurrfit barraw`ies
=2
Rfpmykfit ag lurrfit barraw`ies
20.25
==5.=7
Mllfptmilfs - Ift
=<.=7
76.56
G`imilf lasts pm`h H`v`hfih mih H`v`hfih tmx pm`h (`ilcuh`ie h`v`hfih pm`h ta K`iar`ty \omrfoachfrs)
<6.7?
8:.=5
085.<<
578.2<
Ift lmso usfh `i g`imil`ie mlt`v`t`fs
567.8<
?8?.0?
==8.?
625.7?
=,655.5<
=,:80.05
26.:=
:.:?
=,775.62
=,655.5<
(H) Ift @ilrfmsf `i lmso mih lmso fqu`vmcfits TM+B+L[ Mhh > Lmso mih lmso fqu`vmcfits ms mt =st Mpr`c Ift fggflt ag fxlomief (cass) / em`i ai lmso mih lmso fqu`vmcfits Lmso mih lmso fqu`vmcfits ms mt <=st Kmrlo
=<
@ilakf \tmtfkfit
=8
=6
Mimcys`s ag Ms`mi Zm`its> Xrfih Gar tof pfr`ah 2:=7-=5
@ivfitar`fs, Xrmhf Rflf`vmbcfs, Last ag Kmtfr`mcs Laisukfh, Ift \mcfs mih Apfrmt`ie Fxpfisfs soaw m lait`iuaus `ilrfmsf avfr tof 6 yfmr pfr`ah, soaw`ie tomt tof lakpmiy‐s strmtfey `s ta `ilrfmsf `ts kmrdft somrf by `ilrfms`ie tof slmcf ag `ts apfrmt`ais. \a gmr tof strmtfey `s ward`ie wfcc ms tofrf `s m lait`iuaus r`sf `i tof Zrag`t Mgtfr Xmx (ZMX) mih Rfsfrvfs mih \urpcus ms wfcc, soaw`ie tomt tof prag`tmb`c`ty ag tof bus`ifss oms `ilrfmsfh. G`imilf Lasts omvf hflrfmsfh avfr tof 6 yfmr pfr`ah, mcaie w`to \oart Xfrk Barraw`ies. Xo`s s`ei`g`fs m hflrfmsf `i tof mkauit ag `itfrfst pmykfits tof lakpmiy oms ta kmdf gar `ts barraw`ies. Iai-Lurrfit @ivfstkfits omvf r`sfi lait`iuauscy avfr tof pfr`ah
Xof Camis mih Mhvmilfs ag tof lakpmiy, bato Caie mih \oart Xfrk omvf soawi mi `rrfeucmr trfih avfr tof pfr`ah. Fkpcayff Bfifg`t Fxpfisfs omvf `ilrfmsfh lait`iuauscy avfr tof pfr`ah, soaw`ie tomt tof lakpmiy `s w`cc`ie ta somrf tof bfifg`ts ag `ilrfmsfh rfvfiufs w`to `ts fkpcayffs. Xo`s mcsa sofhs c`eot ai tof OR prmlt`lfs ag tof lakpmiy, tfcc`ie us tomt tof lakpmiy bfc`fvfs `i tof po`casapoy> Omppy fkpcayffs mrf prahult`vf fkpcayffs. Lakpmiy‐s Xmie`bcf G`xfh Mssfts soaw mi `rrfeucmr erawto hur`ie tof pfr`ah mih
tof @itmie`bcf G`xfh Mssfts soaw m o`eo erawto hur`ie pfr`ah. @t s`ei`g`fs tomt tof lakpmiy oms mlqu`rfh m cat ag Zmtfits mih Fxlcus`vf R`eots hur`ie tof pfr`ah. @t kmy mcsa s`ei`gy m somrp `ilrfmsf `i tof lakpmiy‐s Eaahw`cc, toaueo m Eaahw`cc rfvmcumt`ai caads uic`dfcy. Xo`s `ilrfmsf `i mssfts avfr tof pfr`ah ag t`kf. Xof Ift Rfvfiuf grak \mcfs oms soawi m stfmhy hflc`if wofi fxprfssfh ms m pfrlfitmef ag \mcfs Rfvfiuf, fvfi toaueo tof Rfvfiuf `i mbsacutf tfrks oms `ilrfmsfh. Xo`s hflc`i`ie pfrlfitmef lmi bf h`rfltcy mttr`butfh ta mi `ilrfmsf `i tof fxl`sf hu ty avfr tof yfmrs. Xo`s `kpc`fs tomt tof lakpmiy oms `ilrfmsfh `ts slmcf ag ap frmt`ais.
Atofr @ilakfs ag tof lakpmiy omvf mcsa `ilrfmsfh avfr tof yfmrs, mcbf`t `rrfeucmrcy. Kulo ag to`s `ilakf lmi bf mttr`butfh ta @itfrfst @ilakf Rflf`vfh grak @ivfstkfits ms tof @ivfstkfits ag tof lakpmiy soaw m s`k`cmr trfih.
Xof Last ag Kmtfr`mcs Laisukfh, toaueo `ilrfmsfh `i 2:==-=2, hflc`ifh lait`iuauscy mgtfr tomt hur`ie tof pfr`ah. Xo`s `kpc`fs tof lakpmiy oms `ilrfmsfh `ts last fgg`l`fily. @t lmi mcsa bf `kpc`fh tomt tof `iputs last omvf hflrfmsfh.
=7
Xof lakpmiy‐s Zurlomsfs ag \tald -`i-Xrmhf oms r`sfi lait`iuauscy avfr tof yfmrs, sac`h`gy`ie tof erauih gar aur mssukpt`ai tomt tof slmcf ag apfrmt`ais oms `ilrfmsfh.
Xof FB@XHM, Zrag`t Bfgarf Fxlfpt`aimc @tfks mih Xmxfs, Zrag`t Bfgarf Xmx mih Zrag`t Mgtfr Xmx
ms m pfrlfitmef ag smcfs omvf lait`iuauscy hflrfmsfh avfr tof yfmr.Xo`s `kpc`fs tomt tof `iput lasts omvf bffi rfhulfh hur`ie tof yfmr 2:=7-=5.
Xof G`imilf Lasts ag tof lakpmiy `ilrfmsfh hur`ie tof yfmr 2:= =-=2. Xo`s lmi bf
h`rfltcy mttr`butfh ta @itfrfst ai \oart Xfrk Barraw`ies, wo`lo `ilrfmsfh mckast <6 t`kfs hur`ie aif yfmr. Mgtfr tomt tof G`imilf Lasts omvf hf lc`ifh lait`iuauscy ms m rfsuct ag lait`iuaus hflc`if `i tof Caie Xfrk Barraw`ies mih Rfhfkpt`ai ag tof \oart Xfrk Barraw`ies.
=5
Rmt`a Mimcys`s ag Ms`mi Zm`its Uard`ie Lmp`tmc>
Efifrmccy, lakpmi`fs tomt km`itm`i m lakgartmbcf mkauit ag ward`ie lmp`tmc mrf karf mttrmlt`vf ta laisfrvmt`vf `ivfstars. M lakpmiy‐s mb`c`ty ta kfft abc`emt`ais, fxpmih vacukf mih tmdf mhvmitmef ag appartui`t`fs `s agtfi hftfrk`ifh by `ts ward`ie lmp`tmc. Pfmr-ta-yfmr `ilrfmsfs `i ward`ie lmp`tmc mrf m pas`t`vf s`ei ag m lakpmiy‐s erawto mih ofmcto.
@i tof lmsf ag Ms`mi Zm`its, wf absfrvfh tomt bmrr`ie 2:=6, `t lais`stfitcy `ilrfmsfh `ts ward`ie lmp`tmc 2:=7-=5. Xo`s uihfrc`ifh tof `kpravfh g`imil`mc ofmcto ag Ms`mi pm`its. Mimcys`ie C`qu`h`ty ag Ms`mi Zm`its>
Lurrfit Rmt`a>
Uomt `s m lakgartmbcf mkauit ag ward`ielmp`tmc1 Uf usf sfvfrmc kftoahs ta nuhef woftofr m lakpmiy oms mhfqumtf ward`ie lmp`tmc. Xa `itfrprft tof lurrfit pas`t`ai ag m lakpmiy bf`ie lais`hfrfh ms m pass`bcf `ivfstkfit, tof lurrfit rmt`a kmy bf karf usfguc tomi nust tof g`eurf ag ward`ie lmp`tmc. Efifrmccy, lakpmi`fs tomt omvf m skmcc `ivfitary mih mllauits rflf`vmbcf tomt mrf qu`ldcy laccflt`bcf lmi apfrmtf smgfcy w`to m cawfr lurrfit rmt`a tomi lakpmi`fs omv`ie m erfmtfr prapart`ai ag tof`r lurrfit mssfts `i `ivfitary mih tomt sfcc tof`r prahults ai caiefr lrfh`t pfr`ah. \a, `i to`s lmsf toaueo tof vmcuf vmc uf ag lurrfit rmt`a `s cfss tomi tof rucf ag toukb, wf lailcuhfh tomt =.6 `s eaah cfvfc lais`hfr`ie `ts caw trmhf rflf`vmbcf mllauit.
]u`ld Rmt`a (mdm Ml`h Xfst Rmt`a)>
@i mhh`t`ai ta ward`ie lmp`tmc mih tof lurrfit rmt`a, miatofr wmy ta tfst tof mhfqumly ag ward`ie lmp`tmc `s ta caad mt qu`ld mssfts.
=?
]u`ld mssfts mrf toasf lurrfit mssfts tomt mrf qu`ldcy laivfrt`bcf `ita lmso. Xofy fxlcuhfs kfrlomih`sf `ivfitar`fs ,bflmusf sulo `ivfitar`fs omvf yft ta bf sach mih mrf iat qu`ldcy laivfrt`bcf `ita lmso. @t `s vfry `kpartmit gar mi `ivfstar ta g`ih aut tof mb`c`ty ag tof lakpmiy ta pmy tof uplak`ie b`ccs. Xof qu`ld rmt`a ag Ms`mi pm`its `i 2:=7 `s :.0=. \akf lailcuhf tomt m qu`ld rmt`a cfss tomi =>= `s ag paar qumc`ty but lais`hfr`ie tof vfry gmlt tomt o`eofr qu`ld rmt`a `s km`icy iflfssmry gar toasf lakpmi`fs wo`lo gmlf h`gg`lucty `i barraw`ie, mih iat gar tof lakpmi`fs c`df Ms`mi pm`its, woa lais`stfitcy pfrgark wfcc, wf lailcuhf tomt to`s .=0 h`ggfrfilf grak tof bfilokmrd `s iat m o`eocy hmkme`ie pa`it.
Mimcys`ie Hfbt ag Ms`mi Zm`its>
Hfbt rmt`as soaw tof fxtfit ta wo`lo m g`rk `s rfcy`ie ai hfbt ta g`imilf `ts `ivfstkfits mih apfrmt`ais, mih oaw wfcc `t lmi kmimef tof hfbt abc`emt`ai. @g tof lakpmiy hafs iat kmimef `ts hfbt prapfrcy, `t kmy bmidrupt c`df `i tof lmsf ag D`ieg`sofr M`rc`ifs. Ai tof atofr omih, `g `t usfs barraw`ies fgg`l`fitcy `t lmi bu`ch bus`ifss by fxpcar`ie mih fxpmih`ie ta ifw grait`frs. Xofrf mrf vmr`aus rmt`as wo`lo tfst tof hfbt rfpmy`ie mb`c`ty. Xofy mrf> Hfbt ta Fqu`ty Rmt`a>
M lfrtm`i cfvfc ag hfbt `s mllfptmbcf mih iflfssmry, but taa kulo `s m s`ei gar `ivfstars ta bf lmut`aus. Hfbt ta Fqu`ty rmt`a soaws fxmltcy tomt pmrt. Xof Hfbt ta Fqu`ty rmt`a fxpcm`is us oaw kulo tof lakpmiy la kpmiy `s hfpfihfit ai tof barraw`ies gar `ts g`imil`ie. @i tof lmsf ag Ms`mi pm`its, tof lakpmiy soawfh mi autstmih`ie praerfss by rfhul`ie `ts hfbt ta fqu`ty rmt`a grak :.:6 ta :.:5 `i 2:=7. Kast `itfrfst`ie absfrvmt`ai `s `t oms lais`stfitcy rfhulfh tof rmt`a.
=0
@t `s m br`cc`mit s`ei ag kmime`ie g`imilfs bflmusf `i mi `ihustry tomt `s o`eocy hfpfihfit ai rfmc fstmtf mih laistrult`ai sfltar, mih km`itm`i`ie o`eo hfbt `s iat mhv`smbcf. @i gmlt, `t `s tof rfmc fstmtf sfltar tomt baueot tof 2::? subpr`kf lr`s`s mih dfy rfmsai `s `t fxpaifit`mccy o`eo hfbt ta fqu`ty rmt`a mih o`eo hfbt ta mssft rmt`a.
@itfrfst Lavfrmef (ar X`kfs @itfrfst Fmrifh) Rmt`a>
Xo`s rmt`a soaws tof g`rk‐s mb`c`ty ta pmy tof g`xfh `itfrfst lomrefs (ai bato soart-tfrk mih caie-tfrk hfbt) w`to lurrfit fmri`ies.
O`eofr `s tof rmt`a, karf `s tof lmpml`ty ag tof g`rk ta kfft tof `itfrfst pmykfits. Efifrmccy `g tof rmt`a `s mbavf =.6 `t `s lais`hfrfh ta bf mbcf ta pmy `ts `itfrfst.
Mimcys`ie Zrag`tmb`c`ty> Apfrmt`ie Kmre`i>
Apfrmt`ie kmre`i `s usfh ta kfmsurf lakpmiy's pr`l`ie strmtfey mih apfrmt`ie fgg`l`fily. @t e`vfs mi `hfm ag oaw kulo m lakpmiy kmdfs (bfgarf `itfrfst mih tmxfs) ai fmlo rupff ag smcfs. Xof hflrfmsf `i smcfs lmi bf mttr`butfh ta tof `igcmt`aimry fiv`raikfit hur`ie tof pfr`ah. @i gmlt, `ts lakpft`tars mih atofr sfltar‐s apfrmt`ie kmre`i hflrfmsfh kulo karf mih to`s soaws tof efifrmc trfih `i tof flaiaky. f laiaky.
Ift Zrag`t Kmre`i>
2:
Ift Zrag`t Kmre`i rmt`a oms mcaie-tfrk s`ei`g`lmilf bflmusf `t prav`hfusfguc `igarkmt`ai mbaut tof lakpmiy‐s guihmkfitmc flaiak`l laih`t`ai. Xof `ilrfmsf `i fxl`sf huty, fkpcayff bfifg`t fxpfisfs, mih atofr fxpfisfs h`sprapart`aimc ta tof ift smcfs `ilakf `kpmltfh tof ZMX mih mrf tof rfmsais gar tof rfhult`ai `i Ift Zrag`t Kmre`i. Oawfvfr, tof `ihustry mvfrmef `s Ift Zrag`t Kmre`i `s kulo cawfr tomi Ms`mi Zm`its, grak wo`lo wf lailcuhfh tomt `ts pfrgarkmilf `s bfttfr lakpmrfh ta `ts pffrs.
Rfturi ai Mssfts>
Rfturi ai Mssfts rmt`a e`vfs mi `hfm ag oaw fgg`l`fit kmimefkfit `s mt us`ie `ts mssfts ta efifrmtf prag`t. Miy rmt`aimc `ivfstar w`cc bf `itfrfstfh aicy `i toasf lakpmi`fs wo`lo mrf fgg`l`fit `i to`s mspflt. Ofrf, tof RAM rfhulfh grak 2:.=% ta =?.26% mih `t oms bffi lais`stfit `i hflrfmsf.
Rfturi ai Fqu`ty>
Xof km`i abnflt`vf ag miy bus`ifss `s ta hfc`vfr tof rfturis ta tof `ivfstars gar tof lmp`tmc tofy `ivfstfh. Rfturi ai fqu`ty kfmsurfs m lakpmiy‐s prag`tmb`c`ty by rfvfmc`ie oaw kulo prag`t m lakpmiy efifrmtfs w`to tof kaify somrfoachfrs omvf `ivfstfh.
Xo`s soaws tof kmimefkfit `s fgg`l`fitcy us`ie tof somrf lmp`tmc mih `s hfc`vfr`ie praerfss`vf rfsucts hmy by hmy.
Fmri`ies pfr somrf>
2=
FZ\ `s efifrmccy lais`hfrfh ta bf tof s`iecf kast `kpartmit vmr`mbcf `i hftfrk`i`ie m somrf's pr`lf. @t soaws tof fgg`l`fily w`to wo`lo m lakpmiy efifrmtfs `ilakf pfr somrf. FZ\ ag Ms`mi Zm`its `ilrfmsfh spfltmlucmrcy `i 2:=7-2:=5.
@ivfitary Xuriavfr Rmt`a>
@ivfitary Xuriavfr Rmt`a kfmsurfs lakpmiy's fgg`l`fily `i turi`ie `ts `ivfitary `ita smcfs. @ts purpasf `s ta kfmsurf tof c`qu`h`ty ag tof `ivfitary. Xof `ilrfmsf `i `ivfitary lmi bf mttr`butfh ta tof fgg`l`fit garflmst`ie mih pcmii`ie ag tof aremi`zmt`ai. Ms`mi Zm`its @ivfitary Xuriavfr Rmt`a `ilrfmsfh grak 7.26, `i 2:=6-=7 ta 7.7<, `i 2:=7-=5. Xo`s vmcuf soaws tomt tof fgg`l`fily `kpravfh `i m eaah wmy, toaueo `ts bfst wms `i 2:=7-=5, wofi to`s rmt`a wms 7.5?.
Hmys `i @ivfitary>
Hmys `i @ivfitary kfmsurfs tof mvfrmef iukbfr ag hmys `t tmdfs m lakpmiy ta turi `ts `ivfitary `ita smcfs. Hmys `i @ivfitary fst`kmtfs mcsa tof iukbfr ag hmys tof mvfrmef `ivfitary bmcmilf w`cc bf sugg`l`fit. @t `s tof sykbac ag fgg`l`fily mih fggflt`vfifss ag kmrdft `itfcc`efilf, pcmii`ie, mih garflmst`ie.
Xatmc Mssft Xuriavfr Rmt`a>
Xof vmcuf ag m lakpmiy‐s smcfs efifrmtfh rfcmt`vf ta tof vmcuf ag `ts mssfts `s tatmc Mssft Xuriavfr Rmt`a.
Xof Mssft Xuriavfr rmt`a lmi agtfi bf usfh ms mi `ih`lmtar ag tof fgg`l`fily w`to wo`lo m lakpmiy `s hfpcay`ie `ts mssfts `i efifrmt`ie e fifrmt`ie
22
rfvfiuf. \a m o`eofr rmt`a `s mcwmys karf gmvaurmbcf. O`eofr turiavfr rmt`as kfmi tof lakpmiy `s us`ie `ts mssfts karf fgg`l`fitcy.
Xo`s rmt`a ag Ms`mi Zm`its rfhulfh grak 2.78, `i 2:=6-=7 ta =.?5, `i 2:=7=5. Vigartuimtfcy `t `s iat m vfry eaah to`ie. Xo`s soaws tomt toaueo tofy omvf `ilrfmsfh tof mssfts ouefcy, tofrf `s m gurtofr slapf gar `kpravfkfit ms gmr ms smcfs `s lailfrifh. Ms`mi Zm`its lmi ut`c`zf tof`r rfsaurlfs karf fgg`l`fitcy. Xof rfhulfh RAM mcsa uihfrc`ifh tof smkf s`eimc. Omv`ie sm`h tof mbavf, `t kmy iat bf gm`r ai aur pmrt `g wf hai‐t lais`hfr tof vfry gmlt tomt tof kmrdft scawhawi kmy omvf `itfrruptfh tof`r `ivfstkfit pcmis mih tof hfkmih `i tof kmrdft, tomi tofy fxpfltfh.
2<
Wmr`aus Rmt`a Mimcys`s Rmt`a
Zrfg
2:=7-=5
2:=7-=52
Ms`mi Zm`its
Bfrefr
2:=6-=7
2:=6-=7
Ms`mi Zm`its
Bfrefr
=.:?
:.78
:.7<
:.5
C`qu`h`ty Rmt`a Lurrfit Rmt`a ]u`ld Rmt`a
O`eo O`eo
=.8 :.0=
=.2<
:.78
Cfvfrmef Rmt`as Hfbt Fqu`ty Rmt`a @itfrfst Lavfr
:.:5 O`eo O`eo
:.:6 :.:7
07.<=
?2.02
:.:8 75.=?
<2.22
Zrag`tmb`c`ty Rmt`as Apfrmt`ie Zrag`t Kmre`i(%)
O`eo
Ift Zrag`t Kmre`i(%)
O`eo
Rfturi ai Mssfts Fxlcuh`ie Rfvmcumt`ais
=0.57
=8.70
=?.:?
=7.:?
=2.7?
=:.?<
==.==
?.6?
?<.=5
=0.?
7=.6
2=.55
7.6
6.2=
?.<=
7.77
==.<6
?.56
=2.?
0.2<
7.6
6.2=
?.<=
7.77
8.<6
<.07
<.<6
<.62
=.?5
2.:0
2.78
2.52
O`eo
Kmimefkfit Fgg`l`fily Rmt`as @ivfitary Xuriavfr Rmt`a Hfbtars Xuriavfr Rmt`a @ivfstkfits Xuriavfr Rmt`a G`xfh Mssfts Xuriavfr Rmt`a Xatmc Mssfts Xuriavfr Rmt`a
O`eo
O`eo
O`eo
O`eo
O`eo
28
Mssft Xuriavfr Rmt`a
2.:? O`eo
2.<6
2.75
2.77
26
Ermpo ag h`ggfrfit G`imil`mc Rmt`a bftwffi Ms`mi Zm`its mih Bfrefr Zm`its
Ermpo Lurrfit Rmt`a =.7 =.8 =.2 = :.? :.7 :.8 :.2 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
Ermpo ]u`ld Rmt`a = :.0 :.? :.5 :.7 :.6 :.8 :.< :.2 :.= : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
27
Hfbt Fqu`ty Rmt`a :.:? :.:5 :.:7 :.:6 :.:8 :.:< :.:2 :.:= : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
Ermpo @itrfst Lavfr Rmt`a =2: =:: ?: 7: 8: 2: : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
25
Apfrmt`ie Zrag`t Kmre`i 26
2:
=6
=:
6
: 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
Ift Zrag`t Kmre`i % =8 =2 =: ? 7 8 2 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
2?
Rfturi ai Mssft Fxlcuh`ie Rfvmcumt`ais 0: ?: 5: 7: 6: 8: <: 2: =: : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
@ivfitary Xuriavfr Rmt`a 0 ? 5 7 6 8 < 2 = : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
20
Hfbtars Xuriavfr Rmt`a =8 =2 =: ? 7 8 2 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
@ivfstkfit Xuriavfr Zfr`ah 0 ? 5 7 6 8 < 2 = : 2:=6-=7
2:=7-=5 Ms`mi
n
Bfrefr
<:
G`xfh Mssft Xuriavfr Rmt`a 6 8.6 8 <.6 < 2.6 2 =.6 = :.6 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
Xatmc Mssft Xuriavfr Rmt`a < 2.6 2 =.6 = :.6 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
<=
Mssft Xuriavfr Rmt`a < 2.6 2 =.6 = :.6 : 2:=6-=7
2:=7-=5 Ms`mi
Bfrefr
<2
\UAX Mimcys`s ag Ms`mi pm`its Kmrdft \omrf> Ms`mi Zm`its `s tof cfmh`ie Zm`it kmiugmltur`ie lakpmiy `i @ih`m w`to m kmrdft somrf ag avfr 68 pfrlfit.
\trfieto \traie Erawto> Ms`mi Zm`its oms soawi m ofmctoy erawto ag mrauih ? “ =2 =2 % `i tof pmst 6 g`imil`mc yfmrs. Xo`s oms kmhf surf tomt tof lakpmiy km`itm`is tof tap spat ms gmr ms kmrdft somrf `s lailfrifh. @t `s haubcf tof s`zf ag miy atofr pm`it lakpmiy `i @ih`m. \traie Ecabmc Zrfsfilf> Ms`mi Zm`its oms m w`hf gaatpr`it gaatpr`it ai m ecabf apfrmt`ie `i =0 lauitr`fs mih omvf 27 kmiugmltur`ie ui`ts mrauih tof warch. Ms`mi Zm`its sfrvfs `i avfr 76 lauitr`fs mih `s tof gaurto cmrefst pm`its lakpmiy `i Ms`m. M w`hf rmief ag Zrahults> Xof Zrahult Zrahult partgac`a partgac`a ag Ms`mi Zm`its mccaws tofk ta lmtfr ta h`ggfrfit sfekfits mih `ihustr`fs, tofy mrf prfsfit `i tof @ihustr`mc lamt`ies, Hflarmt`vf pm`its, Mil`ccmr`fs, Ms`mi Zm`its Raymcf ftl. Xo`s mccaws tofk ta pfiftrmtf h`ggfrfit sfekfits ag bus`ifss mih sflt`ais ag sal`fty wo`lo ofcps tofk km`itm`i kmrdft somrf. Brmih Wmcuf> Ms`mi Zm`its wms rmidfh 2: to `i tof Xap 2: bfst brmihs `i @itfrbrmih rfpart by Flaiak`l X`kfs. @t mcsa gfmturfh `i tof t of Xap 2: 2: Uarch‐s Kast @iiavmt`vf lakpmi`fs. lakpmi`fs.
supfr`ar tfloiacaey tfloiacaey hr`vfi \traie \uppcy Lom`i Kmimefkfit> Ms`mi Zm`its oms `s m supfr`ar lakpmiy wo`lo oms galusfh ai `itfermt`ie \uppcy Lom`i Kmimefkfit (\LK) mih Fitfrpr`sf Rfsaurlf Zcmii`ie (FRZ) sacut`ai grak \MZ. Kmrdft`ie lmkpm`eis “ Ms`mi pm`its oms mcwmys omh eaah kmrdft`ie lmkpm`eis. @t oms lait`iufh `ts mssal`mt`ai w`to \m`g Mc` domi avfr tof yfmrs mih omh mcsa rapfh `i \aom mc` domi gar m bfmut`guc lmkpm`ei. Grak t`kf ta t`kf `t oms rapfh `i atofr pfrsaimc`t`fs gar mhs but \m`g Mc` domi oms bffi m laistmit. Rflfitcy, Hffp`dm pmhudaif oms bffi loasfi ms tof`r brmih mkbmssmhar gar Ms`mi pm`its Raymcf pcmy. Xof`r brmih kmslat “ EMXXV EMXXV `s vfry gmkaus taa mih `s aif ag tof kast papucmr brmih kmslats ag @ih`m. Ms`mi pm`its raymcf pcmy “ Xof Raymcf pcmy wms mi mkmz`ie mih brfmdtoraueo lailfpt cmuilofh `i tof kmrdft by Ms`mi pm`its wofrf`i pm`itfrs grak tof lakpmiy tofksfcvfs w`cc pm`it yaur oausf us`ie ui`quf hfs`eis mih lacaurs. Xofsf pm`itfrs wfrf spfl`mccy spfl`mcc y trm`ifh mih laisukfrs rfc`fh ai tofk bflmusf tofy lmkf grak tof oausf ag Ms`mi pm`its. Hffp`dm Zmhudaif `s tof brmih Mkbmssmhar gar tof sub brmih.
<<
Caw Kmrdft \omrf `i @ihustr`mc mih Muta Zm`it> Ms`mi pm`its oms m caw kmrdft somrf `i tof `ihustr`mc pm`it (mbaut =6 pfrlfit) mih muta sfltar (mbaut 2: pfrlfit) wofi lakpmrfh ta Dmism` Ifracml mih MdzaIabfc. \caw @itfrimt @itfrimt`aimc `aimc Bus`ifss> Fxlfpt gar Bmiecmhfso, Ifpmc mih VMF, Ms`mi Zm`its omvf bffi pfrgark`ie bfcaw pmr `i atofr avfrsfms lauitr`fs.
Erawto `i @ihustr`mc \fltar> @t oms m lomilf ta mlqu`rf kmrdft somrf `i tof @ihustr`mc ms wfcc ms mutakab`cf sfltar ms wfcc lais`hfr`ie tof lurrfit kmrdft s`tumt`ais. Eraw`ie @ih`mi Flaiaky> U`to erawto `i @ih`mi Flaiaky mih hfvfcap`ie `igrmstrulturf, Ms`mi Zm`its oms m lomilf ta `ilrfmsf rfvfiuf bmsf mih vfiturf `ita skmccfr l`t`fs, ta `ilrfmsf smcfs. Fkfre`ie Imt`ais> Ms`mi Zm`its‐ v`s`ai `s ta bflakf aif ag tof tap g`vf hflarmt`vf lamt`ies lakpmi`fs `i tof warch. Xo`s lmi bf mlo`fvfh by galus`ie ai tof fkfre`ie flaiak`fs ag tof warch. Mhmpt`ie ta laisukfr psylof “ Lomief `s mcwmys laistmit. \a mctoaueo Ms`mi pm`its `s cfmh`ie tof kmrdft huf ta Raymcf pcmy, tofrf mrf at ofr gmltars wo`lo `t lmi br`ie `i ta hmzzcf `ts lustakfrs mih tofrfgarf dffp tof kmnar`ty kmrdft somrf. Agg laursf, fms`fr sm`h tofi haif.
Xof torfmt ag \cawhawi> Miy Flaiak`l scawhawi w`cc omvf m h`rflt if emt`vf `kpmlt ai tof laistrult`ai `ihustry mih laisfqufitcy pm`it `ihustry w`cc mcsa eft mggfltfh. Viaremi`sfh sfltar> Xof uiaremi`sfh sfltar st`cc oms mbaut <6 pfrlfit ag tof kmrdft somrf mih to`s lmi pravf aut ta bf m hftfrrfit ta tof erawto ag tof `ihustry. Xof slmrl`ty ag Rmw kmtfr`mcs> Xof rmw kmtfr`mcs rfqu`rfh `i tof Zm`it `ihustry laitrac tof pr`l`ie tof pr`l`ieag ag pm`it mih slmrl`ty lmi lmusf m nukp `i tof pr`lfs, wo`lo lmi bf m torfmt gar tof Zm`it @ihustry.
<8
Lailcus`ai>
Mllarh`ie ta tof Xrfih, Wfrt`lmc, mih Rmt`a mimcys`s wf h`h gar tof Ms`mi Zm`its mih `ts lakpft`tar, Bfrefr Zm`its, wf lailcuhf tomt Ms`mi Zm`its kmimefh tof`r bus`ifss bfttfr lakpmrfh ta tof Bfrefr Zm`its.
Xof mimcys`s `ilcuhfh lakpmr`s`ai ag h`ggfrfit g`imil`mc pmrmkftfrs c`df Uard`ie Lmp`tmc, C`qu`h`ty Rmt`as, Cfvfrmef Rmt`as, Zrag`tmb`c`ty Rmt`as, mih Fgg`l`fily Rmt`as ag bato tof lakpmi`fs, gar 2:=7-=5. @i ky mimcys`s @ gauih tomt bato tof lakpmi`fs tr`fh tof`r cfvfc bfst ta `kpravf tof`r tof `r g`imil`mc pfrgarkmilfs mih `i m wmy sullffhfh. Omv`ie sm`h tomt, `t wauch bf `inust`lf `g wf ha iat mpprfl`mtf Ms`mi pm`its gar `ts spfltmlucmr pfrgarkmilf hfsp`tf paar kmlra flaiak`l laih`t`ais.
Miy `ivfstar w`cc fxpflt m lakpmrmt`vfcy m bfttfr loa`lf mkaie tof e`vfi apt`ais. Of/\of kmy loaasf tof lakpmiy `g tomt lakpmiy pfrgarks bfttfr `i kmnar`ty ag tof lrul`mc =7 pmrmkftfrs toasf mrf mimcysfh. Uomt `g m lakpmiy lcfmi swffps mcc tof =7 pmrmkftfrs1 Ms`mi Zm`its h`h tof smkf. Xoaueo `ts cmtfst pfrgarkmilf `i sakf pmrmkftfrs c`df @itfrfst Lavfrmef Rmt`a, Apfrmt`ie Kmre`i, Ift Zrag`t Kmre`i, mih RAM hflrfmsfh lakpmrfh ta tof prfv`aus yfmrs, `t h`h wfcc `i lakpmr`s`ai ta `ts pffrs.
Uf uihfrstaah tomt subpr`kf lr`s`s, flaiak`l hawituri, o`eo `igcmt`ai, rfmc fstmtf bubbcfs, mih scaw laistrult`ai sfltar mrf sakf ag tof rfmsais gar tof rfhulfh pfrgarkmilf.
Hfsp`tf mcc tof ourhcfs `t gmlfh, Ms`mi Zm`its pfrgarkfh gm`rcy wfcc mih tomt `s tof rfmsai gar `ilrfmsf `i `ts somrf pr`lf by < t`kfs, `i m soart spmi ag 6 yfmrs, wo`cf Bfrefr Zm`its somrf `ilrfmsfh aicy 2.2 t`kfs. @i m iutsofcc, Ms`mi Zm`its hfsfrvfs `ts g`rst pcmlf `i tof kmrdft mih soauch bf tof g`rst `ivfstkfit apt`ai gar miy `ivfstar, woa `s `itfrfstfh `i Zm`it `ihustry.
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