ࡱ > 5@ bjbj22 ! X X D 6 > > > ( f
.) .) .) 8 f) * ^ 2 * * " * * * 4 4 4 j{ l{ l{ l{ ; { ~ ǁ $ R -
4 s4 @ 4 4 4 * * S8 S8 S8 4 6 *
* j{ S8 4 j{ S8 S8 8 & q D
y * * ( .) 5 2v d y . 0 ^ v 6 f y
y 4 4 S8 4 4 4 4 4 D J( 18 " J( S W O T - 0=0;87: ?@0:B8:0 8 ?@>1;5<K ?@820 !. . , 0@:>20 . . S W O T - 0=0;87: ?@0:B8:0 8 ?@>1;5<K ?@825@H5=AB2>20=85 8=AB8BCF8>=0;L=KE <5E0=872 2 ?@>AB8. >2>A818@A:, 2 0 0 5 . !. 1 8 - 2 9 )
@5645 G5;L7>20BL 4=K5 4K,
=04> 2 =8E E>BO 1K @07>1@0BLAO.
A>2@59 E>7O9AB25==>9 ?@0:B8:5 S W O T - 0=0;87 O2;O5BAO, ?>60;C9, >4=8;55 8725AB=KE 8 @0A?@>AB@0=5==KE :0G5AB25==KE 4>2 ?@>2545=8O AB@0B538G5A:>3> 0=0;870. = 8A?>;L7C5BAO :>=AC;LB0=B0<8, <5=5465@0<?0=89, 87CG05BAO ABC45=B0<8 8 A;CH0B5;O3@0<1O70B5;L=> ?@8ACBAB2C5B ( C?> AB@0B538G5A:><C <5=546<5=BC 8 ABL 8 ?>?C;O@=>ABL 40==>3> 40 A2O70=0, A >4=>9 AB>@>=K, A 53> ?@>AB>B>9, C=825@A0;L=>ABLN 8 4>ABC?=>ABLN, A 4@C3>9 A 2>76=>ABLN :>3> 273;O40 =0 :>2CN A@54C.
0?><=8 >A=>2=0O 845O S W O T - 0=0;870 A>AB>8B 2 :>< @0AAB@5=88 2=5H=8E 8 2=CB@5==8E AB@0B538G5A:8E D0:B>@>2, 2;8ONI8E =0 45OB5;L=>ABL :>9 >A=>25 AB@0B538G5A:8E 0;LB5@=0B82, CG8BK20NI8E @07;8G=K5 A>G5B0=8O AB@0B538G5A:8E D0:B>@>2. $>@9 ?@54AB02;5=8O ?>;CG5==KE @57C;LB0B>2 O2;O5BAO S W O T - @K
=5H=85 D0:B>@K !+ ( S )
5@5G8A;8B5 5 - 1 0 2=CB@5==8E A8; ! !" ( W )
5@5G8A;8B5 5 - 1 0 2=CB@5==8E A;01>AB59 !" ! + ( O )
5@5G8A;8B5 5 1 0 2=5H=8E 2>76=>AB59 S O - AB@0B5388
!35=5@8@C9B5 AB@0B5388, :>B>@K5 8A?>;L7CNB A8;K :>1K @50;87>20BL 2>76=>AB8 2=5H=59 A@54K W O - AB@0B5388
!35=5@8@C9B5 AB@0B5388, :>B>@K5 8A?>;L7CNB 2>76=>AB8 A@54K, ?@5>4>;520O 2=CB@5==85 A;01>AB8 # + ! + ( T )
5@5G8A;8B5 5 1 0 2=5H=8E C3@>7 S T - AB@0B5388
!35=5@8@C9B5 AB@0B5388, :>B>@K5 8A?>;L7CNB A8;K :>1K 871560BL C3@>7 A@54K W T - AB@0B5388
!35=5@8@C9B5 AB@0B5388, :>B>@K5 <8=8AB8 8 ?>30NB 871560BL C3@>7 ( AB@0B538O >1>@>=8B5;L=>3> B8?0) 8A. 1 . S W O T - , :0: 8 4@C385 :0G5AB25==K5 45;8, MB0 1AB0. 1>1I5=85 7=0G8B5;L=>3> M3> 1@0==>3> 2 ?@>F5AA5 >1CG5=8O 2 2 @09 ?@>3@0<43>B>2:8 C?@02;5=G5A:8E :04@>2 4;O >@30=870F89 =0@>4=>3> E>7O9AB20 $ 8 4@C38E 187=5A- ?@>3@0<F5AA5 :>=A0;B8=3>2>9 45OB5;L=>AB8 02B>@>2, ?>72>;O5B =0548=8BLAO : 20B5;59, :>B>@K5 A:5?B8G5A:8 >F5=820NB ?@0:B8:C ?@8<5=5=8O S W O T - 0=0;870 .
A2O78 A MB8< B80=0;878@>20BL B8?8G=K5 >H81:8, :>B>@K5 4>?CA:0NB ;L7>20=88 40==>9 B5E=8:8 2 ?@>F5AA5 AB@0B538G5A:>3> 0=0;870 8 :>B>@K5 A2845B5;LAB2CNB > A;01>=88 A>>1@065=8O 8 @5:> ?>2>4C ?@>2545=8O B0:>3> 0=0;870 8 8A?>;L7>20=8O 53> @57C;LB0B>2 2 :0G5AB25 DC=40@20=8O AB@0B5388 @0728B8O :><?0=88.
0 =0H 273;O4, 6=> 2K45;8BL B@8 >A=>2=KE 10@L5@0 4;O 3@0B=>3> 8 MDD5:B82=>3> 8A?>;L7>20=8O 40==>9 B5E=8:8:
1 . 5B>48G5A:89 A2O70= A 48:>9 ?@>2545=8O S W O T - 0=0;870 8 >1>1I5=85 @57C;LB0B>2.
2 . =D>@==K9 >1CA;>2;5= A;>6=>ABO@==>9 ?>445@6:8 40==>9 B5E=8:8.
3 . #?@02;5=G5A:89 >?@545;O5BAO 2>76=>ABO3@0=8G5=8O;L7>20=8O @57C;LB0B>2 5 \ # "- 0=0;870 2 AB@0B538G5A:>F5AA5.
0AAB@8;55 45B0;L=>.
1 . 5B>48G5A:85 10@L5@K >1CA;>2;5=K:
CA5G5==K;L7>20=85< 40;
A<5H5=85@>2 8 2>76=KE C?@02;5=G5A:8E @5H5=89;
A<5H5=85@>2;
C=825@A0;L=>ABLN 8A?>;L7C5@2>: 8 B. 4.
0H >?KB ?>:07K205B, GB> G0I5 2A53> =0 ?@0:B8:5 2AB@5G05BAO CA5G5==>5 8A?>;L7>20=85 40, GB> ACI5AB25==> AC605B 53> 2>76=>AB8. 8: @57C;LB0BK AB@0B538G5A:>3> 0=0;870, ?@>2545==>3> A?5F80;8AB0<8 8 M:A?5@B01>1I0NBAO =0 >A=>25 ?>AB@>5=8O G5BK@5E:;5B>G=>9 B>@0O ?@54AB02;O5B A>1>9 ?@>AB> AB@C:BC@8@>20==>5 8=D>@==>5 ?>;5, 345 2A5 AB@0B538G5A:85 D0:B>@K ?>4@0745;ONBAO, A >4=>9 AB>@>=K, =0 2=5H=85 8 2=CB@5==85, 0 A 4@C3>9 =0 ?>;>68B5;L=K5 8 >B@8F0B5;L=K5. "0:>5 ?@54AB02;5=85 1;>:8@C5B 2>76=>ABL 40;L=59H53> 8A?>;L7>20=8O B5E=8:8 S W O T 4;O D>@20=8O AB@0B538G5A:8E 0;LB5@=0B82, GB> ACI5AB25==> >154=O5B ?>B5=F80; ?@83> 40 2 AB@0B538G5A:>F5AA5 8 2 >?@545;5==>< A;0I8205B 53> A>45@60=85.
!8;K ( S )
A?5F80;870F8O 8740=89
1KAB@>5 @5038@>20=85 =0 878AE>4OI85 =0 @K=:5
A>1AB25==0O A;C610 4>AB02:8 8740=89 2 20==K5 >B45;K
=0;8G85 ?@54AB028B5;LAB2 2 1>;LH59 G0AB8 >AA88 !;01>AB8 ( W )
>BACBAB285 B2>@G5A:>3> ?>B5=F80;0
=5>?@545;5==>ABL 2 2>?@>A5 :B> =0H ?>B@518B5;L?
=54>AB0B>G=>5 :>;8G5AB2> AB>5: 4;O @0A?@>AB@0=5=8O 8740=89 G5@57 AB@>8B5;L=K5 3@0D859 A@>:>2 2K?>;=5=8O @01>B
A;01K9 :>=B@>;L 4>AB>25@=>AB8 ?@54>AB02;O59 8=D>@76=>AB8 ( O )
40;L=59H55 @0728B85 AB@>8B5;L=>3> @K=:0
?>O2;5=85 =>2KE B5E=>;>389 8 2
@0728B85 B5E=>;>389 ?5@540G8 8=D>@7K ( T )
A57>==>ABL A?@>A0 =0 8=D>@ @07;8G=K< 3@C??020@>2
=530B82=K5 ?>;8B8G5A:85 8 M:>=><8G5A:85 87<5=5=8O
8=D;OF8O
=87:89 B5AB0 4>E>4>2 =0A5;5=8O
=54>AB0B>G=0O :>20==>ABL =0A5;5=8O 8A. 2 . @82 S W O T - 0=0;870 4;O :>G=>9 8 @5:;09 ;8B5@0BC@K 4;O AB@>8B5;L=>3> @K=:0.
4=0:> ;>2CH:8 2>7=8:0NB 4065 ?@8 8A?>;L7>20=88 B5E=8:8 0=0;870 2 B0:>I5==>=8 G0I5 2A53> A> A<5H5=85@>2 8 459AB289 ( AB@0B538G5A:8E 0;LB5@=0B82) , 0 B0:65 2=5H=8E 8 2=CB@5==8E D0:B>@>2.
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
0==K9 D0:B A2845B5;LAB2C5B > 4>2>;L=> 3@CAB=>< O2;5=88: AB>O=88 C2845BL @K=>G=K5 2>76=>AB8 ( =8H8, 187=5A- A53B>@K5 8 4>;6=K >?@545;8BL AB@0B538G5A:85 @5H5=8O. MB>3> A@07C ?@54;030NBAO @5H5=8O 4825@A8D8:0F8O, M:A?>@B 8 ?@. 070;>AL 1K, 2 MB> AB@0H=>3>, :@>4=>3> 48A:@548B0F88 40, B0: :0: C?@>A: 0 70G5< =09 B8?8G=>9 >H81:>9, A2845B5;LAB2CNI59 >1 0=0;8B8G5A:>9 A;01>AB8 <5=546<5=B0, O2;O5BAO A@>2. '0I5 2A53> ?CB0NB 2>76=>AB8 @K=:0 8 A8;L=K5 AB>@>=K A09 :>BO 2AB@5G05BAO A7 @K=:0 8 A;01KE AB>@>= :>78F89 =0 @K=:5 @>65=>3> 02B>@K >B=5A;8 : C3@>70< 2=5H=59 A@54K A;01CN @5:;0445@6:C B>20@=>9 :0B53>@88 @>65=>5 D8@<0872>48B5;O<8, 0 : A;01K@>=0< A09 :>ABL ( ?5@5=0AKI5==>ABL) @K=:0 @>65=>3> 0@5;88 8 2KA>:89 C@>25=L :>=:C@5=F88 =0 @K=:0E @>65=>3> !. - 5B5@1C@30 8 >A:2K 2 >?@545;5==KE B>20@=KE 3@C??0E. "0:>5 A9 48G5A:>9 >H81:>9. 2@O4 ;8 6=> A>3;0A8BLAO A 2KA:07K20=85 B> ?>GB8 =5@07@5H8<K45 S W O T - 0=0;870 3CB AB0BL B@C4=>AB8 @073@0=8G5=8O A8;L=KE 8 A;01KE AB>@>= >@30=870F88 8 @K=>G=KE 2>76=>AB59 8 C3@>7 . 48=AB25==K< :@8B5@853> @073@0=8G5=8O O2;O5BAO 2>76=>ABL 2>7459AB28O =0 2K45;5==K9 D0:B>@: 5A;8 <?0=88 3CB 2>7459AB2>20BL =0 C:070==K9 D0:B>@, B> MB> A8;L=0O 8;8 A;010O AB>@>=0 :>>B25BAB288 A 40==K< :@8B5@85< A;010O @5:;0445@6:0 @>65=>3> 65B 1KBL >B=5A5=0 : A;01K@>=0<?0=88 @:B8:0 ) . A;8 =5 3CB 2>76=>ABL 8;8 C3@>70 @K=:0 ( =0AKI5==>ABL @K=:0 MB>, 157CA;>2=>, C3@>70, 0 =5 A;010O AB>@>=0 :> :0A05BAO 4@C3>9 48G5A:>9 ?@>1;59 . !. 0BL:0;>, :0: B>G=> 4803=>AB8@>20BL 2=CB@5==85 D0:B>@K :0: A8;C 8;8 A;01>ABL :> >=0 2?>;=5 @07@5H8?CI5=8576=>AB8 >4=>2@59 70?8A8 =5:>B>@KE D0:B>@>2 2 S W O T - AB8. >MB> 3>2>@8BL >1 >3@0=8G5==>AB8 S W O T - 40 2 MB>9 G0AB8.
8I520O :>AB02;O5B 1>;55 5 0 % ?@>4C:F88 >4=>;5 A8; S W O T - B@0605BAO F5==>ABL :>=B@0:B0 A %, 0 2 ?>;5 A;01>AB59 G@57<5@=0O 7028A8ABL >B X .
@C3>9 ?@8B:5 ?@>3@0<4C:B>2 ?> 02B>2A:>9 45OB5;L=>AB8, 8;>2=>9 >D8A 2 >2>A818@A:5. ?>;5 A8; S W O T - B0:>5 35>3@0D8G5A:>5 ?>;>65=85 A?>A>1AB2C5B CAB0=>2;5=8N ?0@B=5@A:8E A2O759 A 10=:>2A:8<8 AB@C:BC@0;5 A;01>AB59 >B @0A?>;>65=85 3>;>2=>3> >D8A0 2 @538>=5 70B@C4=O5B @01>BC 2 AB>;8F5. 0 A09 >3@0=8G5==>AB8 8;8 ?@>B82>@5G8O. B=5A5=85 2=CB@5==53> D0:B>@0 : A8;L=>9 8;8, =0>1>@>B, A;01>9 AB>@>=5 :>1KG=> >B@0605B ;8G=>AB=>5 2>A?@8OB85 40==>3> D0:B>@0 B>@K9 70?>;=O5B S W O T - @A:>5 2845=85) . 4=>2@55 ?@8ACBAB285 D0:B>@0 2 42CE :;5B:0E ABOE) 4>;6=> AB820BL 40;L=59HCN 0=0;8B8G5A:CN @01>BC 2 :>1E>48 ?>=OBL, =C6=> ;8 A=860BL 7028A8ABL >B :;85=B0 X 8;8, =0>1>@>B, C:@5?;OBL A =8G=> B0:65 2 A;CG05 A I T :>1E>48 ?>=OBL, AB>8B ;8 ?5@52>48BL 3>;>2=>9 >D8A 2 >A:2C 8;8 ?>- ?@56=5@85=B8@>20BLAO 2 >A=>2=>=.
#=825@A0;L=>ABL 8A?>;L7C5;=5=88 S W O T - @2>:, >BACBAB285 8E ?@82O7:8 : A?5F8D8:5 :>=:@5B=>9 :>=:@5B=>3> @K=:0 B0:65 48A:@548B8@C5B A03> 40.
B<5G5==K5 48G5A:85 >H81:8 ?@82>4OB : 8A:065=8N 2K2>4>2 >B=>A8B5;L=> ?>78F88 :>B@8F0B5;L=> 2;8ONB =0 ?@>F5AA D>@20=8O AB@0B5388.
2 . =D>@==K5 ?@>1;52=0O ?@>1;51;0AB8 8=D>@==>9 ?>445@6:8 40==>3> 40 A2O70=0 A B5 <5=5465@0< 8 ;>301E>48 A>18@0BL,
X Z \ l x z | 2 4 H
¹¹¹¹©¹yjyYyLyL h" hb
CJ NH aJ !j h" hb
0J CJ UaJ h" hb
CJ aJ mH sH h" hb
CJ aJ h" hb
CJ \aJ h CJ NH \aJ h h CJ NH \aJ h h CJ \aJ mH sH h CJ \aJ h h CJ \aJ h hb
5;CJ \aJ h hx 5;CJ \aJ %h hb
5;CJ \aJ mH sH X
H
@ l j j $ d x $If ` a$gd7 $ d $If ` a$ gd7 $ S d $If ^S` a$ gd7 $S d $If ^S` a$gd7
d x `
d x ` $d a$ $d x a$ $d x a$gd $d x a$
J R . 0 @ f h l ( {f[ h" h7 CJ aJ (j h" h7 CJ UaJ mH nH u %h" h7 5CJ \aJ mH nH u"h" h7 5CJ \aJ mH sH h" h7 5CJ \aJ "h" hb
5CJ \aJ mH sH h" hb
5CJ \aJ h" h, CJ aJ mH sH h" h, CJ aJ h" hb
CJ NH aJ h" hb
CJ aJ l 4 N e S < $ d $If ^ ` a$gd|e d x $If ` gd7 kd $$If l F A% H e f 0 4
l a $ d $If ` a$ gd7 ( * 2 4 8 N 2 4 j l R V l 0 f h ƸƸ螌ƸƸ "h" h7 5CJ \aJ mH sH h" h7 5CJ \aJ h" h7 CJ ]aJ h" h7 6CJ ]aJ "h" h7 6CJ ]aJ mH sH h" h7 CJ aJ mH nH uh" h7 CJ aJ h" h7 CJ NH aJ 2N 4 K 9 d x $If ` gd7 kd $$If l 4 F A% H e f 0 4
l a f4 $ d $If ^ ` a$gd|e $ d $If ` a$ gd|e R l 0 $ d $If ` a$gd|e $ d $If ` a$ gd|e $ d $If ^ ` a$gd|e $ d $If ` a$ gd7 < P T! u g \ N N N N N
d 1$ 7$ 8$ H$ gd(
d x `
$ d x ` a$ kdd $$If l 4 F A% H e f 0 4
l a f4 " * < * , | ~ T V R Z F H J! L! T! βΡ~~o~~~o~~~~ h" h( CJ aJ mH sH h" h( CJ NH aJ h" h( CJ aJ h" h34 CJ aJ !j h" hb
0J CJ UaJ h" h4'# CJ aJ mH sH h" h4'# CJ NH aJ h" h4'# CJ aJ h" hb
CJ aJ mH sH h" hb
CJ aJ h hb
6CJ aJ +T! ! ! 4" " # v# z) ) ) ** * + :+ ~+ + , $
& F/ d $If a$ gde? $
& F+
d $If ^`a$ gd ? $ d $If ` a$gd( d x x gd(
& F( d d x P gdf]q
d 1$ 7$ 8$ H$ gd( T! ! ! ! ! ! # $ $ *$ ~$ $ $ % % & & ' ' ' ( t( v( ( ( d) f) x) z) ) ) ) ) ) h* j* * * * * + 4+ 6+ :+ + + ,, ., l, Ķ܈{{{{܈{{ h" hb
CJ NH aJ "h" hb
5CJ \aJ mH sH h" h( CJ aJ mH sH h" h( CJ NH aJ h" hb
5CJ NH aJ h" hb
5CJ aJ h" hb
CJ \aJ h" hb
5CJ \aJ h" h( CJ aJ h" hb
CJ aJ 0l, n, , , 2- 4- \- ^- `- z- |- ~- - - . . b. d. p. . . . D/ F/ / / / / 0 0 0 &0 (0 *0 p0 x0 0 0 61 81 X1 h1 v1 1 1 2 2 L3 輰薊}} hV) hV) CJ NH aJ hV) hV) 5CJ aJ hV) hV) CJ aJ h" hb
CJ aJ mH sH h h 6CJ aJ h hb
6CJ aJ "h" hb
5CJ \aJ mH sH h" hb
5CJ \aJ h" hb
CJ aJ h" hb
CJ NH aJ /, , ^- `- - - . q ^ K K $
& F- d $If a$ gd ? $ d $If ` a$gd( z kd $$If l 0 F% a
t 0 6 4 4
l a $
& F/ d $If a$ gde? . p. . / d/ v/ / 0 0 L | kd $$If l f 0 F% a
t 0 6 4 4
l a $
& F1 d $If a$ gde? $ d $If ` a$gd( $
& F- d $If a$ 0 X1 3 "9 F pA rA C g kdD $$If l & }&
t 0 6 4 4
l a # d $1$ 7$ 8$ H$ If ^`gdo% l& ' ! d x gdV)
d 1$ 7$ 8$ H$ gdV) d x 1$ 7$ 8$ H$ gdV) $d a$ L3 3 3 3 3 3 3 3 d4 f4 4 4 5 5 5 5 86 :6 >7 @7 7 7 7 ,8 8 8 8 8 9 9 9 9 |: ~: : : ; ; ,< 4< < 貤蘊s hV) hV) CJ aJ mH sH ho% CJ aJ hB hV) 6CJ NH aJ hB hV) 6CJ aJ h Q hV) 6CJ NH aJ h Q hV) 6CJ aJ h" h\ CJ aJ mH sH hV) hV) CJ NH aJ hV) hV) 6CJ NH aJ hV) hV) CJ aJ hV) hV) 6CJ aJ ,V> X> > > ? ? F@ H@ @ @ nA pA rA A A B B B B B B 2C 4C lC nC pC rC C D 4D D ¶vj^P^j h" hb
6CJ NH aJ h" hb
6CJ aJ h" hb
CJ ]aJ !j h" hb
0J CJ UaJ h hN8 CJ aJ mH sH h hN8 CJ NH aJ hN8 CJ aJ h hN8 CJ aJ ho% ho% CJ ]aJ ho% ho% CJ aJ h ho% CJ NH aJ j ho% 0J CJ UaJ h ho% CJ aJ hV) hb
CJ ]aJ D D F
F G G "G G G G G H H H I :I K @K bK fK K K L L L 4M 帩xl h: h[ 6CJ aJ h h[ CJ NH aJ h[ h[ 6CJ aJ mH sH h[ CJ aJ h[ h[ 6CJ aJ h h[ CJ aJ mH sH h h[ CJ aJ h" hb
CJ ]aJ mH sH hN8 CJ ]aJ hq8u CJ ]aJ h" hb
CJ ]aJ h" hb
CJ NH ]aJ 'rA $G I DK N N S W G d x 1$ 7$ 8$ H$ gdGS ` kd $$If l & }& 0 6 4
l a d $If ^`gd9_ d $1$ 7$ 8$ H$ If ^`gd9_ d x gd[ d x 1$ 7$ 8$ H$ gdN8 4M 6M M M M N N N N N N ZP bP P P R "R HR JR R R S S S T LT TT V V V V V W W X D F ·{m·{k Uh" hb
5CJ \aJ hGS CJ aJ hGS hGS 6CJ aJ hGS CJ aJ mH sH h hGS CJ NH aJ h hGS CJ aJ mH sH h hGS CJ aJ h" hb
CJ aJ h h[ CJ NH aJ h h[ CJ aJ h: h[ 6CJ aJ h: h[ 6CJ NH aJ &S vU V V f R F ē d gd/
d 1$ 7$ 8$ H$ gd/ d
& F)
d ^ `gdf]q d x P gdf]q d gdf]q
d 1$ 7$ 8$ H$ gdf]q d x P gdGS d gdGS
d 1$ 7$ 8$ H$ gd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
@8 :> 2B>@>9 G0AB8 S W O T - 0=0;870, 0 8 0=0;870 2=CB@5==59 A@54K :>3> 0C48B0) >A=>2=K5 ?@>1;5@==>9 ?>445@6:8 40 A2O70=K, =0 =0H 273;O4, A ?>;CG5=851J5:B82=>9 :>9 >F5=:8 @5AC@A=>3> ?>B5=F80;0 :>AB8 ?@>2545=8O C?@02;5=G5A:>3> 0C48B0:
G8A;> D0:B>@>2, ?>B5=F80;L=> 8B=>H5=85 : MDD5:B82=>AB8 :>AB0B>G=> 25;8:> 8 2A5 >=8 B5A=> 2708A2O70=K;
=5>1E>48@BACBAB2C5B, GB> A2O70=> A >A>15==>ABO@30=870F88 C?@02;5=G5A:>3> CG5B0 8 2>9 8=D>@==>9 A8AB52545=88 0=0;870 A8;0<8 2 8 @C:>2>48B5;59 :> 871560BL AC1J5:B8287F5=>:, ?>MB> 273;O4 A> AB>@>=K 2A5340 ?>;575= ( ?@82;5G5=85 :>=AC;LB0=B>2) .
F5;>< 6=> A:070BL, GB> 4;O B>3> GB>1K S W O T - 0=0;87 8A?>;=O; @>;L MDD5:B82=>3> 8=AB@CF5AA5, =5>1E>48 :0G5AB25==0O 8=D>@==0O ?>445@6:0. !>>B25BAB25==>, 45OB5;L=>ABL ?> 0:BC0;870F88 8=D>@==>3> ?>;O 4>;6=0 AB0BL ?>AB>O==>9 DC=:F859 :><?0=89, 70=8<0NI8EAO AB@0B538G5A:820=851;5 10@L5@0, A=860NI53> MDD5:B82=>ABL ?@8F5AA5 :>AB8, A2O70==K5 A 40;L=59H8;L7>20=85;CG5==KE 2 @57C;LB0B5 55 ?@81E>48 ?>=8 S W O T - 0=0;87 MB> B>;L:> >48= 87 MB0?>2 A;>6=>3> 3>H03>2>3> ?@>F5AA0 D>@20=8O AB@0B538G5A:>3> ?;0=0 :> ?5@28G=K9 AB@0B538G5A:89 0=0;87, 70 :>B>@K;65= A;54>20BL MB0? 25@8D8:0F88 8 @0=68@>20=8O 2K45;5==KE D0:B>@>2, :>@@5:B8@>2:8 F5;59, 0 2>76=>, 8 G=5=8O =01>@0 AB@0B538G5A:8E 0;LB5@=0B82 8 8E :>9 >F5=:8, 2 B>2>9, 8, =0:>=5F, 2K1>@ ;CGH59 AB@0B5388.
&5=0, :>B>@CN ?;0B8B :>@5 =525@=>3> AB@0B538G5A:>3> @5H5=8O, 65B 1KBL >G5=L 25;8:0. 'B>1K ?> 2>76=>AB8 871560BL >H81:8 8;8 A45;0BL 55 OB=>9, A;54C5B ?@>25AB8 :>F5=:C :064>9 @0AA<0B@82059 AB@0B538G5A:>9 0;LB5@=0B82K ?> @O4C :@8B5@852, ?@8 MB>4=8;55 206=KE 0A?5:B>2 O2;O5BAO ?@>25@:0 A>>B25BAB28O ?@54?>;03059 AB@0B5388 AB@0B538G5A:8@020==K2545=88 S W O T - 0=0;870 2 >4=>9 87 :>9 0;LB5@=0B82K 1K;0 ?@54;>65=0 @5AB@C:BC@870F8O :> <5=5465@K =5 A3;8 CAB0=>28BL A>>B25BAB28O 40==>3> @5H5=8O A 2K45;5==K<8 =0 MB0?5 0=0;870 AB@0B538G5A:8@0 A2845B5;LAB2C5B >1 >4=>9 87 42CE >H81>:: ;81> S W O T - 0=0;87 1K; ?@>2545= ?>25@E=>AB=> 8 =5>1E>48 5I5 @07 : =5 >BACBAB2CNB ?@8G8=K ?@>2545=8O @5AB@C:BC@870F88.
5AB@C:BC@870F8O 65B, =0?@8>B25BAB2>20BL B0:8@0BACBAB285 381:>AB8 8 8720=89 ?>:C?0B5;59. 06=K<8 <5=B0?@545;ONI8;57=>ABL 8A?>;L7>20=8O S W O T - 0=0;870 2 AB@0B538G5A:>F5AA5, O2;ONBAO B0:65 G5B:0O ?>AB0=>2:0 F5;59 0=0;870 8 >B@01>B:0 <5E0=872 53> ?@>2545=8O. 57CA;>2=>, ?>;57=> >1@0I5=85 : <5=5465@0< 8 A?5F80;8AB0<?0=88, 2KO2;5=85 8E A>15==> 2 @5682>9 @01>BK ( 73>2>3> HBC@ =04> ?>=8 2 8450;5 S W O T - 0=0;87 MB> 70:;NG8B5;L=K9 MB0? AB@0B538G5A:>3> 0=0;870 :>B>@K9 >?8@05BAO =0 8=D>@;CG5==CN 2 @57C;LB0B5 ?@8<5=5=8O B0:8E 8=AB@C2, :0: P E S T - 0=0;87, 0=0;87 708=B5@5A>20==KE 3@C??, :>=:C@5=B=K9 0=0;87 8 @07254:0 @K=:0, 4 AF5=0@852, 845=B8D8:0F8O :;NG52KE D0:B>@>2 CA?5E0, 4K 0=0;870 ?>B@518B5;59, C?@02;5=G5A:89 0=0;87 2=CB@5==59 A@54K :>:89 AB@0B538G5A:89 0=0;87 2 A>G5B0=88 A B2>@G5A:>9 0=0;8B8G5A:>9 @01>B>9 ?> >1>1I5=8N 53> @57C;LB0B>2 ?>72>;O5B A35=5@8@>20BL H8@>:CN 30<8A: ?CB59 8A?>;L7>20=8O 2=5H=8E 2>76=>AB59 A CG5B>2545=88 S W O T - 0=0;870 B5:AB8;L=>9 :>G=>9 2>76=>AB8 1K; 2K45;5= D0:B>@: @>AB @>AA89A:>3> @K=:0 ?>B@518B5;59 A?5F>4564K, 0 2 :0G5AB25 2=CB@5==59 A8;K: A>2@55 >1>@C4>20=85 8 A>1AB25==K9 >B45; . >5 @0AAB@5=85 MB8E 42CE D0:B>@>2, ?>72>;8;> ?@54;>68BL A;54CNI55 AB@0B538G5A:>5 @5H5=85 2 :204@0B5 S O : @0AH8@8BL 0AA>@B84564K A CG5B>20=89 :>=:@5B=KE ?@>872>4AB2. :0G5AB25 C3@>7K 4;O 40==>3> ?@54?@8OB8O 1K; 2K45;5= D0:B>@: 8=>AB@0==K5 B5:AB8;L=K5 ?@54?@8OB8O ?;0=8@CNB 2KE>4 =0 @>AA89A:89 @K=>:; 2 :0G5AB25 2=CB@5==59 A8;K A>1AB25==0O A1KB>20O A5BL. >@0, 02B>@ S W O T ?@54;0305B 70:;NG8BL 0;LO=A A 8=>AB@0==K<?0=8O682 859 A1KB>2>9 A5B8. B0:>=B5:AB5 4 S W O T - 0=0;870 ?@54AB02;O5B A>1>9 =5 B>;L:> 4>AB0B>G=> C4>1=CN D>@@>2 2=5H=59 8 2=CB@5==59 A@54K :> 65B @0AA<0B@820BLAO :0: 8=AB@C@20=8O AB@0B538G5A:8E 0;LB5@=0B82, =0?@02;5==KE =0 4>AB865=85 ?>AB02;5==KE F5;59. >=5G=>, @07@01>B:0 AB@0B5388 @0728B8O, 2:;NG0NI0O 0:B82=K9 ?>8A: =>2KE 2>76=>AB59, O2;O5BAO B2>@G5A:8F5AA>B>@>3@>;L 83@0NB ?@54?@8=8A>1=>AB8 @C:>2>48B5;O ( >A>15==> 5A;8 >= O2;O5BAO A>1AB25==8:> 2845=85 ?5@A?5:B82 @0728B8O :>682H0OAO 45;>20O :C;LBC@0 8 AB8;L C?@02;5=8O :> ?@8 ?;0=>4E>45 : @07@01>B:5 =>2>9 8;8 @528788 459AB2CNI59 AB@0B5388 ?@8<5=5=85 S W O T - 15A?5G8205B A8AB5ABL 8 :>ABL ?@>F5AA0 35=5@0F88 AB@0B538G5A:8E 0;LB5@=0B82, 45;05B 40==K9 ?@>F5AA =081>;55 C?@02;O5<K3> 0=0;870 8 8A?>;L7C5<KE 4>2
>=:@5B=K9 <5E0=87<, 48G=>ABL ?@>2545=8O S W O T - 0=0;870 >?@545;ONBAO CA;>28O=8@>20=8O :>B@0A;52>9 ?@8=04;56=>ABLN, >A>15==>ABLN ?>@BD5;O 187=5A>2, ?@8=OBKF54C@0<8 8 AB8;5A>15==>ABO@?>@0B82=>9 :C;LBC@K 8 4@.
F5;>:07K205B, GB> @57C;LB0BK DC=:F8>=8@>20=8O :> 7028AOB >B B>3>, =0A:>;L:> E>@>H> :>?@545;8;0 A2>N ?>78F8N. !>>B25BAB25==>, =0E>645=85 2 @57C;LB0B5 S W O T - 0=0;870 A?5F8D8G5A:>9 AD5@K 45OB5;L=>AB8, 2 :>B>@>9 A8;K :>>B25BAB2CNB 2>76=>ABO:@C60NI59 A@54K, O2;O5BAO 206=KAB865=8O :>=:C@5=B=>3> ?@58<CI5AB20.
K =0455 :@8B8G5A:89 0=0;87 >?KB0 ?@83> 8=AB@C:065BAO ?>;575= <5=5465@0< 8 0=0;8B8:072>;8B 82CH5: , :>B>@K5 3CB 8<5BL A;54AB2859 A8BC0F88, C?CI5==K5 0;LB5@=0B82K 8, 2 :>=F5 :>=F>2, C?CI5==K5 2>76=>AB8 ?>;CG5=8O ?@81K;8.
S W O T >1>7=0G05B AB@0B538G5A:85 D0:B>@K 2=5H=59 8 2=CB@5==59 A@54K :>AB8, O p p o r t u n i t i e s 2>76=>AB8, T h r e a t s C3@>7K.
01>BK, =0?8A0==K5 =0 B5<C 2>3> ?;0=8@>20=8O 2 =5:>B>@KE :@C?=59H8E :> 2KO28;8 15A?>;57=>ABL 1>;LH8=AB20 4>2 ?@8 =5?@028;L=>;L7>20=88& @5420@8B5;L=K5 2K2>4K C:07K20NB =0 =5045:20B=>5 ?>=8>B25BAB2CNI55 8A?>;L7>20=85 S W O T - 0=0;870, ?>@BD5;L=KE <0B@8F, A5320=8O @K=:0 8 ?@>F5AA0 >?@545;5=8O F5;59 8 AB@0B5389. . 0:- >=0;L4. !B@0B538G5A:>5 ?;0=8@>20=85 2 !. . , :C;>2 . . @:B8:0 : C:@5?;5=85 ?>78F89 =0 @K=:5 @>65=>3> / / !1>@=8: CG51=KE :59A>2: ?KB @>AA89A:8E :>- 0?04=K9 @538>=) . ! 1. : 740B5;LA:89 4>A. C=- B0, 2 0 0 3 . !. 7 9 .
. !. 0BL:0;>. AE>4=K5 :>=F5?F88 AB@0B538G5A:>3> C?@02;5=8O 8 8E A>2@5F5=:0. / / >AA89A:89 6C@=0; <5=5462 ?@>2545=8O S W O T 2 4204F0B8 0=3;89A:8E ?@><?0=8OE 2 @05:B0 M P I ?>:070;, GB> A@54=OO S W O T - 45@68B 45AOBL D0:B>@>2 ?> :064>9 :0B53>@88, ?@8 MB> 845=B8D8F8@>20=> 1>;55 7 0 D0:B>@>2. =B5@5A=>, GB> :>20;8 1>;LH5 A;01>AB59, G5;LH5 2>76=>AB59, G57. / / L o n g R a n g e P l a n n i n g , V o l . 3 0 , !1 , 1 9 9 7 , p . 4 6 t o 5 2 .
0<5B8 @>AA89A:85 , 2K45;ONB 3>@074> 1>;LH5 C3@>7, G576=>AB59.
B>38 8A?>;L7>20=8O S W O T - 0=0;870 ?> @57C;LB0B0 ?@>2545=8O 2 4204F0B8 0=3;89A:8E :> B> B@8 :><?0=88 ?5@5AB@5;8 A2>N 2K9 0=0;87
?@81K;L=>ABL;
@5=B015;L=>ABL;
:>MDD8F85=BK 8 B. 4.
7 - S D8@<K M c K i n c e y
AB@0B538O;
A8AB5=0;;
AB@C:BC@0 C?@02;5=8O;
@0745;O5AB8
0@:5B8=3>2K9 0C48B
<0@:5B8=3- <8:A;
A;C610 =F5?F8O 20==K5 3@C??K
0:F8>=5@K, =0;, ?@>DA>N7K;
>@30=K 2;0AB8 8 B. 4.
>@BD5;L 187=5A>2
?>@BD5;L=K9 0=0;87;
A10;0=A8@>20==>ABL
=0;87 ?>B@518B5;59
E0@0:B5@8AB8:8 :B> >=8;
B82K ?>:C?>:;
=5C4>2;5B2>@5==K5 ?> B@51 =>AB8
=0;87 187=5A- A8AB5AB8 ?> A>740=8N F5==>AB8 4;O ?>B@518B5;O;
B5E=>;>38G5A:85 8 8=K5 87=:C@5=F88
AB@0B538G5A:85 3@C??K;
B@5C3>;L=8: :>=:C@5=F88 8
:>=:C@5=B=K5 ?@58 =:C@5=B>2;
A8;L=K5 8 A;01K5 AB>@>=K
B@0A;52>9 0=0;87
5 A8; :>=:C@5=F88 >@B5@0;
8745@6:8 8 :@820O >?KB0;
687=5==K9 F8:; >B@0A;8;
?>B5=F80; >B@0A;8;
:;NG52K5 D0:B>@K CA?5E0
P E S T - 0=0;87:
0=0;87 ?>;8B8G5A:8E, M:> => F80;L=KE 8 B5E=>;>38G5A:8E D0:B>@>2 A@54K
S W O T - 0=0;87
V X d f
z | X Z N P 8 N x z 6 8 V ^ ` b ۻ|ۋ h" hb
CJ aJ mH sH hf]q CJ aJ hf]q hf]q 6CJ aJ h hf]q CJ aJ mH sH h hf]q CJ NH aJ h hf]q CJ aJ hN CJ aJ h" hb
CJ NH aJ h" hb
CJ aJ hGS CJ aJ !j h" hb
0J CJ UaJ . ē V ^ ƕ 0 2 f h " Λ Л 4 6 V t ܯ皧|皧qb h hq CJ aJ mH sH h hq CJ aJ h" hb
6CJ NH ]aJ h" hb
6CJ ]aJ h" hb
CJ NH aJ h/ CJ aJ !j h" hb
0J CJ UaJ h h/ CJ NH aJ h h/ CJ aJ mH sH h h/ CJ aJ h" hb
CJ aJ h" hb
5CJ \aJ & t ܟ ؠ ڠ ަ j [ Q ! d x gd\8
d x `` kd? $$If l & }& 0 6 4
l a ! d $If ^`gdq d $1$ 7$ 8$ H$ If ^`gdq ! d x d f ֞ ޞ
ğ Ɵ ^ b ֠ ڠ N V z | 6 8 ƣ Σ X Z ƥ ȥ Ԧ ئ ܦ ަ | ~ B D ƨ Ȩ ôçççôçôçßß| h h\8 CJ aJ h" h\8 CJ NH aJ h" h\8 CJ aJ h:~ CJ aJ h h:~ CJ NH aJ h h:~ CJ aJ mH sH h h:~ CJ aJ h" hb
CJ aJ h hq CJ aJ mH sH h hq CJ NH aJ h hq CJ aJ 0 © ^ ª 2 4 @ N
" $ & Ȯ ʮ ή 2 4 p x $ & ͿͿ検 (j h" hb
CJ UaJ mH nH u h:~ CJ aJ h P CJ aJ h\8 CJ aJ h" h\8 CJ aJ h P h\8 6CJ NH aJ h P h\8 6CJ aJ h h\8 CJ NH aJ h h\8 CJ aJ h h\8 CJ aJ mH sH 1 ̮ ή { i ` ` ` ` ` ` ` d `
d x `gd:~ d x 1$ 7$ 8$ H$ gd\8 ` kd $$If l & }& 0 6 4
l a d $If ^`gd\8 ĵ ̵ Ե ֵ ص L N Ķ ¹ Ĺ ֹ x z & ( ڻ ܻ D F B D H J h j ʾ ̾ о Ҿ ܾ wwmwwwwmw h|Pj h. NH ]h|Pj h. ] h|Pj h. j h|Pj h. 0J Uh" h\8 CJ aJ h h\8 CJ NH aJ h h\8 CJ aJ mH sH h h\8 CJ aJ h:~ 6CJ aJ h:~ hb
6CJ aJ h:~ CJ aJ h" h. CJ aJ hb
CJ aJ h" hb
CJ aJ * µ ĵ Ƶ ȵ ʵ ̵ N d 4
intex
5004.13 ()
babyliss
5003.17 ()
-
vps vds
:
protherm
:
8800 gold
5004.10 ()
8800 gold edition
li-da
dolmar
alfa laval
-
-
tag heuer
inerta
r-600