May 2011 - Allegheny West Magazine
Transcription
0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP 05",)3(%23 1RWH ),1$//<635,1*DQG$33/$8',1* 285('8&$7256$1'678'(176 <HVLW¶VVSULQJDOEHLWZLWKPRUHVKRZHUV WKDQDQ\RQHZRXOGFDUHWRZLVKIRU$QG\HV LW¶VWLPHIRUDOOWKDWLVJRRGDERXWVSULQJDQG VXPPHURQWKHKRUL]RQVXFKDVDOOWKH DFWLYLWLHVWKDWDUHRXWGRRUVLQRXUKRPHWRZQ %HIRUHHYHU\RQHFORVHVXSWKHVFKRROKRXVH DQGEUHDNVIRUWKHVXPPHUZHZDQWWRDSSODXG DVSHFLDOJURXSWKLVPRQWKRXUWHDFKHUV:H DUHKDSS\WRVKDUHQHZVIURPPDQ\RIRXU FRPPXQLW\¶VVFKRROVDERXWWKHZRQGHUIXO DFWLYLWLHVSURJUDPVDFKLHYHPHQWVDQGPRUH WKDWPDNHWKHHQGRIWKLVVFKRRO\HDUVRVSHFLDO:HDUHSOHDVHG WREULQJWKHRIILFLDO0RQWRXU6FKRRO'LVWULFWQHZVWR\RXLQWKH ILUVWRIDVHULHVRILQVWDOOPHQWVWKURXJKRXWWKHFRPLQJ\HDU5HDG DERXW3URSHO6FKRRO¶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¶VELUWKGD\6WXGHQWVZHUHHQFRXUDJHGWR GUHVVDV'U6HXVVFKDUDFWHUV,QWKHPRUQLQJHDFKFODVVKDGDJXHVW UHDGHU3UHVFKRRODQGNLQGHUJDUWHQVWXGHQWVHQMR\HGDVWRU\ZLWKWKH&KLFN ILO$FRZ)LUVWJUDGHUVKHDUGD VWRU\IURP%RE'HOOD YROXQWHHUIURP$QLPDO )ULHQGVZKREURXJKWKLVGRJ&RRSHUWRWKHFODVVURRP3DULVKSULHVWV)DWKHU 0LFKDHODQG)DWKHU5XVVHOOHDFKUHDGWRDFODVV6LVWHU-ROHQWDSDVWRUDO DVVRFLDWHVKDUHGDVWRU\ZLWKVL[WKJUDGHUV3DUHQW'DQ7URFFKLRVFKRRO SULQFLSDO-DQHW(VFRYLW]VFKRROFRXQVHORU-HII/RQGRQDQG7LWOH,UHDGLQJ WHDFKHU5RVH%XFNZDOWHUHQMR\HGUHDGLQJWRDFODVV,QWKHDIWHUQRRQ VWXGHQWVUHDGDVWRU\WRWKHLUEXGG\IURPDQRWKHUJUDGH 3+27268%0,77(' 4/2%!#(53 :DOQXW6WUHHW6XLWH,PSHULDO3$ 3KRQH)D[ h'//$ .%73 !,7!93 -!),%$ $%,)6%2%$ &2%% %6%29 4)-%v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¶VD6WDWH7URRSHU 0HHWWKH&KRFRODWH&OXE 7KH6ODYMHQH)RON(QVHPEOH &HOHEUDWLQJ+HULWDJH7KURXJK'DQFH 2KLR9DOOH\&RPPXQLW\%DQG 3UHSDUHVIRU$QRWKHU6HDVRQ 30%#)!,3%#4)/.3 02172856&+22/ ',675,&71(:6/(77(5 !"/54 4(% #/6%2 7KH6ODYMDQH)RON(QVHPEOHSHUIRUPVRQ0D\DW 'DYLG(:LOOLDPV0LGGOH6FKRRO 3+27268%0,77(' #/,5-.3 3XEOLVKHU¶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´5RELQVRQ7RZQVKLS %LFHQWHQQLDOµ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·V 'LQHU S %RFNWRZQ %HHU *ULOO S ZZZERFNWRZQFRP %URDGZD\ 'DQFH 6WXGLR S ZZZSUXQ]LNVEURDGZD\GDQFHVWXGLRFRP &DULQJ +HLJKWV S &DURXVHO .HQQHO S ZZZFDURXVHONHQQHOFRP &WUIRU2UJDQ5HFRYHU\(GXF&25(S'21256ZZZFRUHRUJ &KRLFH &KLURSUDFWLF S ZZZFKRLFHFKLURSUDFWLFQHW &OHDUYLHZ)HGHUDO&UHGLW8QLRQSZZZFOHDUYLHZIFXRUJ &RPSXWHUV 3LWWVEXUJK S ZZZFRPSXWHUVSJKFRP &RRO +RPH ,PSURYHPHQWV S ZZZFRROKRPHLPSURYHPHQWVFRP &RUQHUVWRQHDW7RQLGDOHS '&·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·V S ZZZMDQRVNLVFRP .HQQHG\6FKRI'ULYLQJSZZZNHQQHG\VFKRRORIGULYLQJFRP /D]DURZLF] .HQ &3$ S ZZZOD]#DFFRXQWDQWVFSDFRP 0DF·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·V 'DQFH 6WXGLR S 6SD S ZZZVSDFRP 7KRPDV6WXGLRRI3HUIRUPLQJ$UWVS ZZZWKRPDVGDQFHFRP 7RQLGDOH 3XE S 7UL6WDWH 3OXPELQJ S ZZZWULVWDWHSOXPELQJDQGKHDWLQJFRP 9DOOH\ &KXUFK S ZZZYDOOH\FKXUFKZHEFRP :HVW3HQQ$OOHJKHQ\+HDOWK6\VWHPS :LOORZV 7KH S ZZZ,QWHJUD&DUHFRP 127(:HOLVWHDFKDGYHUWLVHU¶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³%OXHELUGVRI5DFFRRQ&UHHN´+HZLOOGLVFXVV%OXHELUG QDWXUDOKLVWRU\KLVH[SHULHQFHVZLWKPRQLWRULQJ%OXHELUG 7UDLOVDQGKRZWRKHOSDWWUDFW%OXHELUGVWRRQH¶VDUHD0HHW DWWKH:LOGIORZHU5HVHUYH1DWXUH&HQWHURQ5RXWHLQ &OLQWRQ 2XU/DG\RIWKH6DFUHG+HDUW:KLWH(OHSKDQWVDOHWREHQHILW LWVDWKOHWLFWHDPVZLOOEH6DWXUGD\-XQHIURPDPWR SPDQG6XQGD\-XQHIURPQRRQWRSPDWWKH2/6+ $QJHOD$FWLYLW\&HQWHU)RULQIRUPDWLRQFDOO $OOHJKHQ\:HVW0DJD]LQH0D\ 5HFUHDWLRQ&RPSOH[LV6DWXUGD\0D\ DPWR1RRQZLOOEX\D[IRRW VSDFH9HQGRUVQHHGWRSURYLGHWKHLURZQ WDEOHV)RUPRUHLQIRUPDWLRQFDOO RU $OOSURFHHGV EHQHILW WKH 5RELQVRQ 7RZQVKLS $XWXPQ)HVWLYDO 0RRQ+LJK6FKRROSUHVHQWVWKHPXVLFDO ³&LQGHUHOOD´0D\SP0D\ SPDQG0D\SP$OVRFRPHWR WKH³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·V0F.HHV5RFNV&ODVVRI ZLOOFHOHEUDWHLWVWK UHXQLRQR Q 6DWXUGD\-XQH DW SPDW5RFNHIHOOHU¶V*ULOOHLQ .HQQHG\) RUPHUF ODVVPDWHVZ KR JUDGXDWHGIURP RWKHU VFKRROV DUH ZHOFRPH 7RUHFHLYH LQIRUPDWLRQ FDOO$QQD%D\HU 2XU/DG\RIWKH6DFUHG+HDUW+LJK 6FKRROZLOOKROGVXPPHU ZRUNVKRSV IRU VWXGHQWV LQ JUDGHV WKURXJKDWWKH2/6+FDPSXV :RUNVKRSVLQ FOXGHFUHDW LYH ZULWLQJEDQG FDPSV 5RRWV *HQHDRORJ\DGYHQWXUH 7UHH +XJJHUVHQYLURQPHQWDO H[SHULHQFHDQG&KULVWPDVLQ-XO\ 5HF\FOHG&UDIW FDPS 9LVLW ZZZROVKRUJRU FRQW DFWFDPS GLUHFWRU7KHUHVD/RQJE\HPDLO WORQJ#ROVKRUJ 7KH3LWWVEXUJK%RWDQLF*DUGHQ·V VW$QQXDO3ODQW6DOHZLOOEH 6DWXUGD\0D\ *UHHQWUHH )LUH +DOODQG&RPPXQLW\&HQWHUDFURVV IURPWKH3LWWVEXUJK%RWDQLF*DUGHQ RIILFHVORFDWHGLQWKH36,(QJLQHHU LQJ%XLOGLQJ3RSODU6WUHHW6DOH IHDWXUHV LQFOXGH SUHSODQWHG FRQWDLQHUVVRLOWHVWNLWVDQGWRRO VKDUSHQLQJ $OVR VDYHWKHGDWHIRUWKH2SHQ *DUGHQV7RXURQ-XQH'HWDLOV ZLOOEH UHOHDVHG VRRQ $QQXDO3DUNZD\:HVW5RWDU\6WHDN 1·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·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³6ZLQJ LQWR 6XPPHU ZLWK WKH %HVW RI &OHYHU5RDGV ZLWK D EULHI FHUHPRQ\ WKH*UHDW$PHULFDQ6RQJERRN´DW:HVW KRQRULQJWKHEUDYHYHWVDQGDIO\RYHU7R $OOHJKHQ\+LJK 6FKRRO 7XHVGD\- XQH SDUWLFLSDWHFRQWDFW-DQ7KRPDV +RSHZHOO&RPPXQLW\3DUNSP)ULGD\-XQH RU 2DNGDOH7RZQ&HQWHUSP)ULGD\ $XJXVW1RUWK)D\HWWH&RPPXQLW\3DUN SP7KH:+6%SHUIRUPVRXWUHDFKFRQFHUWV 5RELQVRQ3DUNDQG5HFUHDWLRQ 'HSDUWPHQW·V6XPPHU&DPSZLOOEHKHOGDW IRUPDQ\ ORFDO HYHQWV 2UJDQL]DWLRQV LQWHUHVWHG LQKRVWLQJ DQ RXWUHDFK FRQFHUW FRQWDFW &OHYHU3DUN5RWDU\6KHOWHU&OHYHU5RDG 3ULQFLSDO&RQGXFWRU0XVLF'LUHFWRU&OHP5ROLQ -XO\WKRXJK-XO\DPWRSP 6FKRRODJH FKLOGUHQ NLQGHUJDUWHQ JUDGXDWH WKURXJKJUDGHUHVLGLQJLQ5RELQVRQ *UHDWHU3LWWVEXUJK%XVLQHVV&RQQHFWLRQPHHWV 7RZQVKLSZKR HQMR\ VSHQGLQJ WLPH UXQQLQJ :HGQHVGD\VWRDPDW(DWQ¶3DUN H[HUFLVLQJFUHDWLQJ FUDIWV DQG PDNLQJ QHZ UHVWDXUDQWLQ5RELQVRQ7RZQVKLS7R DWWHQGRU IULHQGVFDQVLJQXSIRUWKHFDPS3UH IRUPRUHLQIRUPDWLRQFDOOH[W UHJLVWUDWLRQIRUVXPPHUFDPSLVDPXVW$ IHHRI SHU GD\ ZLOO EH FKDUJHG $GYDQFH SD\PHQWZLOOEHDFFHSWHG&DOO 7KH,QJUDP+LVWRULFDO6RFLHW\·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¶9(*27<28&29(5(' 6LQFHZHKDYHVHUYHGWKHDLUSRUWDUHD:HSXEOLVKWKUHHGLVWLQFW FRPPXQLW\PDJD]LQHVDOOPDLOHGIUHHLQWRWKHKRPHVDFURVVDUHD FRPPXQLWLHV7ROHDUQPRUHDERXWRXUSXEOLFDWLRQVFDOO RUYLVLWRXU:HEVLWHDWZZZDOOHJKHQ\ZHVWPDJD]LQHFRP *LUO6FRXWV$FKLHYH3UHVWLJLRXV*ROG$ZDUG /LEE\&ROHPDQ5RELQVRQ 2QO\ILYHSHUFHQWRI 7RZQVKLS/LEE\ JLUOVZKRDUHHOLJLEOH UHQRYDWHGDQGUHIXUELVKHG ZLWKLQWKH*LUO6FRXW WKHWR\HDUROGFODVV SURJUDPDFWXDOO\HDUQ URRPDW.HQ0DZU83 WKH*ROGDZDUG6L[RI &KXUFK7KH\FOHDQHGDQG WKHPHPEHUVRI*LUO SDLQWHGZDOOVRUJDQL]HG 6FRXW7URRS VWRUDJHFOHDQHGWKHWR\V FRPSOHWHGWKHLU*ROG DQGWDXJKWWKHFKLOGUHQ $ZDUGWKLV\HDUDQG KRZWRWDNHFDUHRIWKH WKUHHRWKHUVKDYH WR\V VXEPLWWHGSURMHFW 9DQHVVD.HVVHO5RELQVRQ SURSRVDOVIRUWKHLU*ROG 7RZQVKLSDQG&DVVDQGUD $ZDUGZLWKWKHKRSHRI :R]QLDN5RELQVRQ FRPSOHWLQJWKHPWKLV 7RZQVKLS9DQHVVDDQG \HDU &DVVDQGUDZRUNHGZLWKWKH 7KH*LUO6FRXW*ROG 6WR.HQ5R[%R\VDQG $ZDUGLVWKHHTXLYDOHQW *LUOV&OXEWRSUHVHQW+DYH WRWKH(DJOH6FRXWDZDUG )XQ*HW+HDOWK\7KH\ LQ%R\6FRXWV $%29(/()7725,*+76WDFL&DUO\/LEE\9DQHVVD&DVVDQGUDDQG 6DPDQWKD SUHVHQWHGDZHHNORQJGD\ /HDGHU'HOOD:R]QLDN FDPSLQ-XQHIROORZHGXS VDLG³,DPSHUVRQDOO\ ZLWKDQDIWHUVFKRROSURJUDPLQ1RYHPEHU7KH\SUHVHQWHGD YHU\SURXGRIWKHVHJLUOVDQGIHHOYHU\IRUWXQDWHWRKDYHEHHQ YDULHW\RILGHDVIRUPHPEHUVWRVWD\ILWE\GRLQJ/DWLQ WKHLUOHDGHU,WWDNHVDORWRILQLWLDWLYHDQGVHOIGLVFLSOLQHWR GDQFHVKLSKRS\RJDDQG7DL&KL7KH\DOVRHQOLVWHGWKH FRPSOHWHWKHVHSURMHFWV´ DVVLVWDQFHRIDGLHWLFLDQZKRWDXJKWWKHSDUWLFLSDQWVDERXW $OOVL[JLUOVDUHVHQLRUVDW0RQWRXU+LJK6FKRRO GLHWDQGZD\VWRPDNHKHDOWK\VQDFNV9DQHVVDDQG &DUO\&KDURFKDN5RELQVRQ7RZQVKLSDQG6DPDQWKD:LOGPDQ &DVVDQGUDSURYLGHGDUHFLSHERRNDQG'9'¶VRIWKHGDQFH 5RELQVRQ7RZQVKLS³0DULDQ0DQRU¶V)DPLO\'D\*RHV URXWLQHVWRWKHSDUWLFLSDQWVWRKHOSWKHPLQWKHLUJRDORI 7URSLFDO´&DUO\DQG6DPDQWKDZRUNHGWRJHWKHUWRSODQDQG VWD\LQJILWDQGHDWLQJSURSHUO\ RUJDQL]HDQDIWHUQRRQIHVWLYDOODVW$XJXVWDW0DULDQ0DQRU 6WDFL6XWHUPDVWHU5RELQVRQ7RZQVKLS6WDFLUHQRYDWHG 1XUVLQJ+RPH,QYLWHGJXHVWVLQFOXGHGUHVLGHQWVRIWKHQXUVLQJ DQGUHIXUELVKHGWKHVDQFWXDU\DW0RQWRXUV¶3UHVE\WHULDQ KRPHDQGWKHLUIDPLOLHVDQGQHLJKERUVRIWKHQXUVLQJKRPH FKXUFK7KHSURMHFWSURYLGHG6WDFLWKHRSSRUWXQLW\WRJLYH 7KH\SXWWRJHWKHUDQHYHQWELQGHUFRQWDLQLQJDOOHYHQWGHWDLOV EDFNWRWKH&KXUFKDQGFRPPXQLW\PHPEHUVWKDWXVHWKH WRPDNHLWHDV\WRSODQDVLPLODUHYHQWDJDLQ VSDFHE\SURYLGLQJDIUHVKO\FOHDQHGDQGUHQRYDWHGDUHD 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP &KDPEHURI&RPPHUFH3UHVLGHQW 5HFHLYHV3UHVWLJLRXV0LOLWDU\$ZDUG 6DOO\+DDVSUHVLGHQWRIWKH3LWWVEXUJK$LUSRUW$UHD&KDPEHURI&RPPHUFHZDV DZDUGHGWKH86$LU)RUFH'LVWLQJXLVKHG3XEOLF6HUYLFH$ZDUGE\WKH6HFUHWDU\RIWKH $LU)RUFH0LFKDHO%'RQOH\DQG86$LU)RUFH&KLHIRI6WDII*HQHUDO1RUWRQ$ 6FKZDUW]DWDFHUHPRQ\LQ:DVKLQJWRQ'&RQ)HEUXDU\ +DDVZDVQRPLQDWHGIRUWKLVDZDUGIRUKHURXWVWDQGLQJOHDGHUVKLSDQGIDLWKIXO VHUYLFHWRWKH8QLWHG6WDWHVDQGWKH8QLWHG6WDWHV$LU)RUFH6KHGLVWLQJXLVKHG KHUVHOIE\VHUYLQJDVDQ$LU)RUFHDGYRFDWHXQGHUWKH$LU)RUFH&KLHIRI6WDII&LYLF /HDGHU3URJUDP)URP-DQXDU\WR)HEUXDU\VKHVHUYHGDVWKHUHSUHVHQWD WLYHLQ3LWWVEXUJK3HQQV\OYDQLDDQGVXUURXQGLQJDUHDVIRUWKH$LU)RUFH&KLHIRI6WDII LQFRQVXOWDWLRQZLWKWKH6HFUHWDU\RIWKH$LU)RUFH 'XULQJ+DDV·WLPHDVDQ$LU)RUFH&LYLF/HDGHUVKHFRPPXQLFDWHGFRPPXQLW\ FRQFHUQVWR$LU)RUFHOHDGHUVKLSDQGVSRNHDERXWWKH$LU)RUFH·VPLVVLRQDQG SURJUDPVWRWKHSXEOLFDQGRWKHUNH\FLYLFOHDGHUV6KHLQFUHDVHGDZDUHQHVVDQG XQGHUVWDQGLQJWRWKHSXEOLFDQGRWKHUFLYLFOHDGHUV 3+27268%0,77(' $FFHVV%URDGZD\+RQRUV$ERXQG 3+27268%0,77(' DU RXQG \\RXU RXU WR ZQ DURXQG WRZQ $%29(6DOO\+DDVSUHVLGHQWRIWKH3LWWVEXUJK$LUSRUW$UHD &KDPEHURI&RPPHUFHZLWK&RORQHO-HIIUH\3HQQLQJWRQ &RPPDQGHURIWKHWK$LUOLIW:LQJLQ0RRQ7RZQVKLS 9HWHUDQV(YHQW 5HVFKHGXOHG ,QDQHIIRUWWRUHFRJQL]HORFDO $%29(6WXGHQWVIURP.DUHQ3UXQ]LN¶V%URDGZD\'DQFH6WXGLRWRRNDZD\ QXPHURXVK RQRUVL QWKL V\HD U¶V$FFHVV%URDGZD\ FRPSHWLWLRQ : LQQHUVZHUH OHIWWRULJKW&KORH.HKP5\DQ/HQNH\6KDQH7UHORDU1DWDOLH6FLXOOLVWXGLR RZQHU.DUHQ3UXQ]LN1LFROH)LVK*DEULHOD=XFFNHUR6WHSKDQLH)LVKDQG %ULDQQD3DWWHUVRQ .DUHQ ZRQ WKH SUHVWLJLRXV ³%HVW 6WXGLR'LUHFWRU´ DZDUG )RUPRUHGHWDLOVRQWKHDZDUGZLQQHUVYLVLWWKH:HEVLWH ZZZSUXQ]LNVEURDGZD\GDQFHVWXGLRFRP WKHQFOLFN RQ WKH FRPSHWLWLRQ OLQN 9LHWQDP:DUHUDYHWHUDQV6WDWH5HS 0DWW6PLWKLVUHVFKHGXOLQJKLVWULEXWHWRKRQRUORFDO9LHWQDP :DUHUDYHWHUDQVIRU1RYHPEHU6PLWKVDLGWKLVZLOOJLYH YHWHUDQVPRUHWLPHWRUHJLVWHUIRUWKHHYHQW 7KHHYHQWLVUHVFKHGXOHGWREHKHOGIURPWRSP 1RYHPEHULQWKH%HWKHO3DUN&RPPXQLW\&HQWHU3DUN $YHQXHLQ%HWKHO3DUN 9LHWQDP:DUHUDYHWHUDQVRUIULHQGVDQGUHODWLYHVRI9LHWQDP YHWHUDQVOLYLQJLQWKHQG/HJLVODWLYH'LVWULFWDUHLQYLWHGWR FRQWDFWKLVRIILFHDWRUZZZSDKRXVHFRP06PLWK IRUPRUHLQIRUPDWLRQ /RFDO'RJV&RPSHWHLQ$.&$JLOLW\1DWLRQDOV $%29(.HQQHG\7RZQVKLSUHVLGHQW(ODLQH0D\RZVNLDQGKHUGRJ.\ULHDWWHQGHGWKH$.&DJLOLW\QDWLRQDOVIURPWKLVDUHD7KH\ZHUHMRLQHGE\6KHLOD 0DUWLQDQGKHUGRJVGRJV/DQQLDQG&RULIURP0F.HHV5RFNV3+2726&2857(6<2)&,1'<12/$1' 3+2726 68%0,77(' $OOHJKHQ\:HVW0DJD]LQH0D\ 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP +HULWDJH9DOOH\1HZV DU RXQG \\RXU RXU WR ZQ DURXQG WRZQ $VVRFLDWHEURNHUDQGEURNHUDSSUDLVHU-RDQ$NDQRZLF] ZKRKDVZRUNHGDW1RUWKZRRG5HDOW\6HUYLFHVIRURYHUWKUHH GHFDGHVKDVEHHQQDPHG'LUHFWRURI1HZ$JHQW 'HYHORSPHQWDWWKHFRPSDQ\·V5RELQVRQ6KRZFDVH+RPHV RIILFHLQ&RUDRSROLV )RU\HDUVWKHORQJWLPHDJHQWPDQDJHG1RUWKZRRG·V LQLWLDO5RELQVRQRIILFHRQ6WHXEHQYLOOH3LNH7KHFRPSDQ\ ODWHUPHUJHGWKRVHRSHUDWLRQVZLWKLWVDLUSRUWORFDWLRQLQ 0RRQ7RZQVKLS$NDQRZLF]FRPDQDJHGWKHMRLQWRIILFHIRU IRXU\HDUVZKLOHDOVRUHFUXLWLQJDQGGHYHORSLQJQHZDJHQWV ,QKHUQHZWLWOHVKH·OOUHWDLQWKHUROHRIKLULQJWUDLQLQJQHZDJHQWVZKLOH FRQWLQXLQJWROLVWDQGVHOOSURSHUWLHV +HULWDJH9DOOH\+HDOWK6\VWHPDQQRXQFHGLWVSDUWLFLSDWLRQLQDQHZSURJUDP DLPHGDWFRQWUROOLQJEORRGVXJDUDQGUHGXFLQJWKHULVNVDVVRFLDWHGZLWKKLJK EORRGVXJDULQSDWLHQWVZLWKGLDEHWHV7KHQHZTXDOLW\LPSURYHPHQWLQLWLDWLYHLV LQFROODERUDWLRQZLWKWKH+LJKPDUN4XDOLW\%OXH3URJUDPDQGWKH*O\FHPLF +HDOWK,QLWLDWLYHDQGKDVWZRSULPDU\JRDOV²WRLPSURYHSDWLHQWFDUHE\ DFKLHYLQJPHDVXUDEOHUHGXFWLRQVLQLQSDWLHQWK\SHUJO\FHPLDDQGWRLPSURYH HGXFDWLRQWKHUHE\UHGXFLQJWKHKXPDQVRFLHWDODQGILQDQFLDOFRVWVIRUWKH LQVWLWXWLRQSDWLHQWDQGFRPPXQLW\DWODUJH)RUPRUHLQIRUPDWLRQRQWKH +LJKPDUN4XDOLW\%OXH'LDEHWHV&RQWURO3URJUDPDQGWKH*O\FHPLF+HDOWK ,QLWLDWLYHDW+HULWDJH9DOOH\+HDOWK6\VWHPFDOO 7KH2/6+/HJDF\*DODZDVKHOGRQ 6DWXUGD\$SULODWWKH+\DWW5HJHQF\ 3LWWVEXUJK,QWHUQDWLRQDO$LUSRUW7KLV DQQXDOHYHQWERWKFHOHEUDWHVDQGDGYDQFHV WKHPLVVLRQRI2/6+7KHHYHQLQJ·V IHVWLYLWLHVLQFOXGHGWKH)LUVW1LDJDUD%DQN FRFNWDLOKRXUVHOHFWLRQVIURPWKHVSULQJ PXVLFDOWKHDZDUGLQJRIWKH2/6+/HJDF\ $ZDUGDQGOLYHDQGVLOHQWDXFWLRQV7KH HYHQWVSRQVRUHGE\627$&RQVWUXFWLRQ 6HUYLFHV,QFZDVZHOODWWHQGHGE\ WHDFKHUVSDUHQWVDOXPQLDQGIULHQGVRI 2/6+ -LPDQG-RDQ0LFKHOZHUHFKRVHQDVWKLV\HDU·VUHFLSLHQWVRIWKH/HJDF\ $ZDUGIRUWKHLUGHGLFDWLRQWRWKHVFKRRORYHUWKH\HDUV$OXPQLSDUHQWVRI -HQQLIHU¶3DWULFN¶$OLVRQ¶.LS¶DQG.DWLH·WKH0LFKHOV UHPDLQLQYROYHGZLWK2/6+DWKOHWLFVDQGKROGDQDQQXDOIORZHUVDOHWRIXQG WKH$OLVRQ-0LFKHO0HPRULDO6FKRODUVKLS7KH0LFKHOV·DUHQRWRQO\WZRRI 2/6+·VELJJHVWFKHHUOHDGHUVEXWDOVRVHUYHWKHFRPPXQLW\DVVKLQLQJ H[DPSOHVRI&KULVWLDQOHDGHUV²DOZD\VIRFXVHGRQWKHLUJLIWVUDWKHUWKDQ WKHLUEXUGHQVVHHLQJWKHSRVLWLYHLQHYHU\WKLQJDQGPDNLQJIDLWKDQG IDPLO\DSULRULW\LQWKHLUOLYHV 7KH/HJDF\*DODZDVRQFHDJDLQDVXFFHVVIXOHYHQLQJDQGDJUHDW RSSRUWXQLW\IRUPHPEHUVRIWKH2/6+FRPPXQLW\WRFRPHWRJHWKHUWR FHOHEUDWHWKHPLVVLRQDQGYLVLRQRI2/6+ +HULWDJH9DOOH\%HDYHU·V&DUGLRYDVFXODUDQG7KRUDFLF6XUJHU\SURJUDP UHFHQWO\UHFHLYHGWKHKLJKHVWTXDOLW\UDWLQJWKUHHVWDUVIURPWKH6RFLHW\RI 7KRUDFLF6XUJHRQV676IRURXWFRPHVUHODWHGWRLVRODWHGFRURQDU\DUWHU\ E\SDVVVXUJHU\&$%*IURP-XO\WR-XQH+LVWRULFDOO\WR SHUFHQWRIKRVSLWDOVUHFHLYHWKH´WKUHHVWDUµ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·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· 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP 1(: ,172:1 .6=4@>:?8%6H#@42=FD:?6DD6D *DPHV8 7KH GD\V RI KDYLQJ DQ DYHUDJH UXQRIWKHPLOO ELUWKGD\ SDUW\ FRUSRUDWH WHDP EXLOGLQJ HYHQW RU VFKRRO IXQGUDLVHU LQ 3LWWVEXUJK DQG WKH VXUURXQGLQJ DUHDV DUH RYHU *DPHV8 3LWWVEXUJK D VWDWHRIWKHDUW JDPH WKHDWHU DQG HQWHUWDLQPHQW IUDQFKLVH LV KRVWLQJ HYHQWV LQ DQG DURXQG 3LWWVEXUJK *DPHV8 PL[HV VRPH RI WKH PRVW SRSXODU DQG XQLTXH HQWHUWDLQPHQW DVSHFWV ± YLGHR JDPHV ODVHU WDJ JLDQW LQIODWDEOH KDPVWHU EDOOV DQG PRUH ±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³, ORRN IRUZDUG WR PDNLQJ D OLYLQJ EULQJLQJ WKH IXQ WR HYHU\RQH , FDQ SRVVLEO\ UHDFK´ (G LV RIIHULQJ UHDGHUV RI ³$OOHJKHQ\ :HVW 0DJD]LQH´ D GLVFRXQW IRU PHQWLRQLQJ WKH PDJD]LQH *DPHV8 RIIHUV HYHU\RQH WKH FKDQFH WR KDYH D µURFN VWDU¶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³0LNH\´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±OEV6HFRQG3ODFH -DFR:DVORXVN\±OEV7KLUG3ODFH-DFRE*UD\±OEV6HDQ .RHSILQJHU±OEV)RXUWK3ODFH6DO'H6LPRQH±OEV=DFN -DEORQVNL±OEV-RVK&DLQ±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²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¶V5HVWDXUDQW1LQH,QWHUDFWRUVWKHKLJK VFKRROHTXLYDOHQWRID 5RWDU\&OXEDQGVL[5RWDULDQVZRUNHGò KRXUVSLFNLQJ XS HYHU\WKLQJ IURP ZLQGRZ VFUHHQV DQG ERWWOHV WR ROG WRZHOVDQG FDU SDUWV 3ULRU WR YHQWXULQJ RXW WKH JURXS YLHZHG WKH VDIHW\YLGHR0DQ\WKDQNVWR.LQJ¶VIRUSURYLGLQJWKHURRPDQG SDUNLQJIRUWKLVHYHQW&UDIWRQ,QJUDP5RWDU\PHHWVDW.LQJVRQ :HGQHVGD\PRUQLQJVDWDP /()70RQWRXU+LJK6FKRRO6RIWEDOO7HDPPHPEHUVIURQW$GHOLQD &DOLJXLUHILUVW URZ 0HJDQ9DFFR'HPL/HZLQ -HQQD&ULVFL $O\VVD 0F0XUWULH6WHSKDQLH6HLEHUW(PLO\'LHFNV6WDF\&DSSVHFRQGURZ .DWLH*DOHV0DULQD6FDUDQWLQR$OOLVRQ+U\DGLO7RUL5RPDQ.DLWO\Q .XWFKPDQDQG2OLYLD'L[RQWKLUGURZ0DORU\*HUVW$VKOH\)UDWWR +HDWKHU2¶+DUD$QJLH<DQRVLN7\OHU0LQHDU-RUGDQ6WDQJDDQG 3DLJH'HOH\7KH0RQWRXU+LJK6FKRROVRIWEDOOWHDPXQGHUWKH GLUHFWLRQRI&RDFK%LOO:LOOVDFKLHYHGPDQ\KLJKOLJKWVWKLVSDVW VHDVRQ7KHWHDPZRQ:3,$/$$$&KDPSLRQVKLSLQWKHWHDP ZDVD V WDWH VHPLILQDOLVW SLWFKHU .DLWO\Q .XWFKPDQ RXWILHOGHU$O\VVD 0F0XUWULHLQILHOGHU0DULQD6FDUDQWLQRDQGLQILHOGHU6WDF\&DSSZHUH $OO6HFWLRQVHOHFWLRQV.DLWO\QDQG6WDF\ZHUH3$ $OO6WDWHKRQRUDEOH PHQWLRQWKHWHDP¶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·V6RXWK+LOOV&HQWHUZLOOFORVHDWWKHFRQFOXVLRQRIWKHUHJXODU VFKRROFDOHQGDU0D\7(/,·V,QIDQWDQG7RGGOHU(DUO\,QWHUYHQWLRQSURJUDPRIILFHVDUH UHORFDWLQJWRFRQVROLGDWHZLWKRWKHUDGPLQLVWUDWLYHRIILFHVRQ%DOGZLFN5RDG7(/,·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·VKLJKHVWKRQRU $%29(%HWK&DOGZHOOOHIWZLWKWHOHYLVLRQSHUVRQDOLW\ 1LHF\1DVKFHQWHUUHFHLYLQJWKH5DGLFDO:RPDQ $ZDUG1LHF\1DVKUHFHLYHGWKH5DGLFDO,PSDFW $ZDUG% HWKL VW KHR ZQHUSXEOLFLVW DQG H[HFXWLYH GLUHFWRU RI3LWWVEXUJK3URIHVVLRQDO:RPHQDQGWKHIRUPHUSXEOLVKHU RI³7KH3LWWVEXUJK.LGV¶'LUHFWRU\´DQG³7KH3LWWVEXUJK :HGGLQJ'LUHFWRU\´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·V3URJUDPPLQJ0D\ 0RUQLQJ)DPLO\6WRU\WLPH ² 0RQGD\VDP6WRULHV VRQJVUK\PHVDQGFUDIWVIRUFKLOGUHQDQGXQGHU (YHQLQJ)DPLO\6WRU\WLPH² 7XHVGD\VSP6WRULHVVRQJV UK\PHVDQGFUDIWVIRUFKLOGUHQDQGXQGHU %DE\/DS6LW ² )ULGD\VDP6WRULHVVRQJVDQG ILQJHUSOD\VIRUEDELHVXQGHUWZRROGHUVLEOLQJVDUHDOZD\V ZHOFRPH )DPLO\)XQ6DWXUGD\V² 1RRQSPPRQWKO\WKHPHGIDPLO\ SURJUDP0D\²0RWKHU·V'D\0DNHDQG7DNH*LIWVDQG VWRULHV $GYHQWXUHVLQ$EVWUDFW$UW²0D\SP0D\ SPIRU\HDUROGV&RPELQHDUWKLVWRU\ZLWK DUW OHDUQLQJ DERXW 3LFDVVR DQG 0DWLVVH WKHQ DSSO\ WKRVH WHFKQLTXHVWRFUHDWH\RXURZQZRUNVRIDUW3OHDVHUHJLVWHU DW &KLOGUHQ·V 3URJUDPPLQJ -XQH 6XPPHU5HDGLQJ3URJUDP ² -XQH²$XJXVW 5DGLFDO&UDIWV² 0RQGD\VSP7HHQVDQG WZHHQV GHVLJQ WKHLU RZQ DUW SURMHFWV )DPLO\0RYLHV²0RQGD\V-XQHDQG-XO\ 5HFHQWUHOHDVHVIRUDOODJHVWRHQMR\ZLWKIUHH SRSFRUQ :ULWH$OO$ERXW,W²7XHVGD\VSP:ULWLQJ ZRUNVKRSIRUDJHVDQGXS $URXQGWKH:RUOG²:HGQHVGD\VDP *UDGHVZLOOH[SORUHWKHZRUOGZLWKVWRULHV DQGFUDIWV 5HDGWR0H² :HGQHVGD\VDPSP $JHVWRNLQGHUJDUWHQZLOOKDYHVWRULHVDQG FUDIWV )DPLOLHVRIWKH:RUOG²7KXUVGD\VSPDOO DJHVSURJUDP,QFOXGHVDVKRUWILOPFUDIWV DQGJDPHVIHDWXULQJDGLIIHUHQWUHJLRQRIWKH ZRUOG HDFK ZHHN $GXOW3URJUDPPLQJ0D\ :LVH:DON²:HGQHVGD\VDPDW0RQWRXU 7UDLO·V%HDYHU*UDGH5RDGDFFHVV$OOSDUWLFLSDQWV ZLOOUHFHLYHDFRPSOLPHQWDU\SHGRPHWHUDQG ZDONLQJJXLGH7KHILUVWZDONHUVZLOOUHFHLYH WVKLUWVDQGKHDOWK\VQDFNVZLOOEHSURYLGHGWR HDFKZDONHU6SRQVRUHGE\WKH$OOHJKHQ\&RXQW\ /LEUDU\$VVRFLDWLRQLQSDUWQHUVKLSZLWK$$53DQG +LJKPDUN3$/63HRSOH$EOHWR/HQG6XSSRUW 3URJUDP &RPSXWHU&ODVVHV²7XHVGD\VDP0D\ 0LFURVRIW:RUG%DVLFV0D\0LFURVRIW([FHO %DVLFV0D\0LFURVRIW3RZHU3RLQW%DVLFV0D\ 6RFLDO1HWZRUNLQJ&ODVVVL]HOLPLWHGWRWKUHH UHJLVWHUDWWKHOLEUDU\RUFDOO %RRN'LVFXVVLRQV²7KHUHDUHILYHPRQWKO\ERRN GLVFXVVLRQVVSRQVRUHGE\5RELQVRQ7RZQVKLS /LEUDU\1LNR·V&RIIHH+RXVH²)LUVW0RQGD\ SP0D\´1RDK·V&RPSDVVµE\$QQH7\OHU -XQH´7KH%HHNHHSHU·V$SSUHQWLFHµE\/DXULH5 .LQJ5RELQVRQ/LEUDU\0\VWHU\²6HFRQG 7XHVGD\SP0D\´1HZ<RUN'HDGµE\6WXDUW :RRGV-XQH´&URFRGLOHRQWKH6DQGEDQNµE\ (OL]DEHWK3HWHUV&KLFN)LO$,QVSLUDWLRQDO² 7KLUG:HGQHVGD\DP0D\´8QWLO:H 5HDFK+RPHµE\/\QQ$XVWLQ5RELQVRQ/LEUDU\ )LFWLRQ²/DVW7XHVGD\SP0D\´7KHWK :LIHµE\'DYLG(EHUVKRII:LQHU\DW:LOFR[ 6HWWOHUV5LGJH²/DVW:HGQHVGD\SP0D\ ´7KH+RXVHRI'DXJKWHUVµE\6DUDK.DWH /\QFK $GXOW3URJUDPPLQJ-XQH %RRN'LVFXVVLRQV²1LNR·V&RIIHH+RXVH²)LUVW0RQGD\ SP-XQH´7KH%HHNHHSHU·V$SSUHQWLFHµE\/DXULH5 .LQJ5RELQVRQ/LEUDU\0\VWHU\²6HFRQG7XHVGD\SP -XQH´&URFRGLOHRQWKH6DQGEDQNµE\(OL]DEHWK3HWHUV &KLFN)LO$,QVSLUDWLRQDO²7KLUG:HGQHVGD\DP -XQH´:KHQWKH+HDUW&ULHVµE\&LQG\:RRGVPDOO 5RELQVRQ/LEUDU\)LFWLRQ²/DVW7XHVGD\SP-XQH ´7KH,FH4XHHQµE\$OLFH+RIIPDQ:LQHU\DW:LOFR[ 6HWWOHUV5LGJH²/DVW:HGQHVGD\SP-XQH´7KH 9LQWDJH<HDUµE\3HWHU0D\OH &RPSXWHU&ODVVHV²7XHVGD\VDP-XQH&RPSXWHU DQG,QWHUQHW%DVLFV-XQH,QWHUQHW6HDUFKLQJ-XQH 0LFURVRIW:RUG&ODVVVL]HOLPLWHGWRWKUHHUHJLVWHUDWWKH OLEUDU\RUFDOO &KXUFK+LOO5RDGLQWKH5RELQVRQ7ZS0XQLFLSDO%OGJ 3LWWVEXUJK3$ +RXUV0RQGD\WKURXJK7KXUVGD\DPSP )ULGD\DQG6DWXUGD\DPSP (0DLOURELQVRQ#HLQHWZRUNQHWZZZURELQVRQOLEUDU\RUJ 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP %XUNHWW&HOHEUDWHV(DUWK:HHN /()7)RXUWK JUDGH VWXGHQWV-DGH 6DODPH\ -RQHV/ DXUHQ 5RVHDQG 6XRQJ7UDQ GHFRUDWHWK H VFKRROW R SURPRWH DZDUHQHVV GXULQJ(DUWK 'D\ During Earth Week at Burkett Elementary School, the message, “On Which Earth Would You Rather Live?” was presented through examples of a dirty and garbage ridden world versus the ideal, clean, and beautiful earth. Students engaged in a variety of activities including poster making, weekly recycling projects, and classroom discussions. In addition, the Burkett Parent Teacher Association Earth Week Chairperson, Jen Jones, met with each classroom and gave a demonstration showing the importance of recycling and the items that can be recycled. Suong was surprised to learn that the amount of garbage thrown away in the United States in one year would easily reach the moon. Lauren was amazed to learn that it takes hundreds of years or more for certain items to break down in landfills. Jade agreed that it is very important for children to learn about how to conserve and save the Earth from pollution. 1HZ3ULQFLSDOV 0U0LFKDHO0DUYLQ has been named the new principal of Ingram Elementary School. Mr. Marvin is currently the high school assistant principal. He will continue to serve in that role as well as assume responsibilities of the elementary position. Mr. Marvin will begin spending more time at Burkett Elementary to get to know the Ingram students and teachers. He will also begin working on the budget and help prepare for the move back to Ingram Elementary next school year. 0U'RPLQLF6DOSHFN has been named Middle School principal (grades 5-8). Mr. Salpeck is currently principal of the Upper Middle School (grades 7-8). The board of directors approved the middle school reconfiguration for grades 5 to 8 during the January meeting. $OOHJKHQ\:HVW0DJD]LQH0D\ E\'U&KULVWRSKHU6WRQH 'LUHFWRURI&XUULFXOXP,QVWUXFWLRQ &855,&8/80 83'$7( ('/,1(,17(5$&7,9(&/$665220 2YHUWKHSDVWVHYHUDO\HDUVWKH0RQWRXU6FKRRO'LVWULFWKDVXVHGWKH(GOLQH SURJUDPWRNHHSSDUHQWVDFFXUDWHO\LQIRUPHGRIWKHLUVWXGHQWV·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´FORXGµ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·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n March 23, students from CHS Economics classes taught by Mr. Michael Phillips, and from the Marketing classes taught by Mrs. April Fisher competed in a sustainable business plan competition featuring a case study focusing on sustainable practices at Giant Eagle. Students Michael Kochis, Natalie Trapuzzano, Eric Foerster, Erin Downs, Jessica Pixley, Kristen Brosek, and Aaron McGee attended lectures in the areas of Economics, Marketing, Finance, Business, and Accounting and then returned to Montour to work on their plan. The students’ business plans were submitted for review on April 13 and the students are currently awaiting the results of the competition. :LQQLQJ6RSKRPRUH:ULWHUV+RQRU7HDFKHUV $%29(/()7725,*+7/RFDOVWRUHHVVD\ZLQQHU*LQD5LFKDUGVRQZLWK0 U.HQ .XWFKPDQ0UV.LPEHUO\(YDQVDQG2OLYLD3DVTXDUHOOL0UV0HOLVVD3DOPHUDQG 5HEHNDK'HYRUDN The tenth grade Honors English classes at Montour High School recently participated in a national essay writing contest hosted by Barnes and Noble Bookstores. The objective of the contest was for students to write about their favorite teachers; one who has influenced them in one way or another. On April 12, five Montour sophomores, along with their winning teachers, were honored and recognized at a ceremony at Barnes and Noble in Settler’s Ridge. Montour students were able to read their award winning essays, in addition to presenting their inspirational teacher with an award of recognition. The following students received honorable mentions for their essays: - 5HEHNDK'HYRUDN- Essay written about Mrs. Melissa Palmer, sixth grade teacher at David E. Williams; - 1RODQ/D6RWD- Essay written about Mrs. Michelle Bertolino, sixth grade teacher at David E. Williams; - 0RULDK9LYLDQR - Essay written about Mrs. Joan Gorsuch, retired Montour elementary teacher; - 2OLYLD3DVTXDUHOOL- Essay written about Mrs. Kimberly Evans-Roehn, Montour School District art teacher. Barnes and Noble chose one local store winner to move on to the regional contest. Montour sophomore *LQD 5LFKDUGVRQ was chosen as the overall local winner for the essay competition. Her essay written about Mr. Ken Kutchman, eighth grade reading teacher at David E. Williams Middle School, was judged on content, expression, and writing quality. Her essay was chosen from an overwhelming amount of entries among many different school districts in the area. Gina’s entry will move on to compete at the regional, and potentially national, level of the writing competition. Selina Blinn, Community Relations Manager at Barnes & Noble at Settlers Ridge, said, “We are so happy to be able to recognize the great work being done in our local schools.” Congratulations to Gina, and all of the honorable mentions from Montour High School! Good luck throughout the rest of the competition. WWWMONTOURSCHOOLSCOM 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP 6WXGHQWV6WDII5DLVHIRU+HDUW$VVRFLDWLRQ 1HZ $GPLQLVWUDWLYH6WDII 'U)UDQ6HUHQND Students and staff members at Burkett Elementary School are “jumping” into spring beginning with the American Heart Association’s Jump for Heart event. Students will participate in a variety of fun and aerobic activities. These activities will not only encourage exercise, but teach the students about the importance of heart health. Mr. Manolis, Burkett physical education teacher, and Mr. Carolus, Burkett health education teacher, would like to thank all of the students, family members, and teachers that kindly contributed to the American Heart Association Charity event. Principal Dan DiDesiderio had this to say, “The Burkett community is always looking for ways to help those in need. Whether through holiday food and gift drives or events such as this, the families of the Montour School District go the extra mile.” $IWHU6FKRRO6SRUWV,QWUDPXUDO3URJUDPD6XFFHVV $%29()RXUWKJUDGHVWXGHQWVDW%XUNHWW(OHPHQWDU\6FKRROKDYHVXFFHVVIXOO\FRPSOHWHGWKH$IWHU 6FKRRO6SRUWV,QWUDPXUDO3URJUDP6WXGHQWVKDYHEHHQSDUWLFLSDWLQJLQYDULRXVDWKOHWLFHYHQWVVLQFH 2FWREHUDQGUHFHQWO\UHFHLYHGWKHLUWURSKLHVRIFRPSOHWLRQ)RXUWKJUDGHVWXGHQW&DLWOLQ2¶7RROHVDLG³,W KDVEHHQ D JUHDW H[SHULHQFH SDUWLFLSDWLQJLQ $IWHU6FKRRO 6SRUWVZLWK P\ IULHQGV DQG IDYRULWH WHDFKHUV´&DUROLQH 'LVFKQHU DGGHG ³,W ZDV D ORW RI IXQ OHDUQLQJ DQG SOD\LQJ WKH GLIIHUHQW VSRUWV ZLWK 0U0DQROLV%XUNHWWJ\PWHDFKHUDQG0 U%DULH%XUNHWWFRPSXWHUWHDFKHUDQGDOORIP\IULHQGV ³7KHSURJUDPSURPRWHVVSRUWVPDQVKLSDQGWHDPZRUNVRPHWKLQJ3ULQFLSDO'L'HVLGHULRVD\VWKHVFKRRO KROGVLQKLJKUHJDUGDGGLQJ³DQGVWXGHQWVOHDUQDERXWDORWPRUHWKDQDFDGHPLFVHVSHFLDOO\ZKHQ LQWHUDFWLQJZLWKWKHLUSHHUVDWVFKRROLQVRFLDODQGDWKOHWLFDFWLYLWLHV´ is the district’s new Director of Special Education. With 30 years of experience in education, Dr. Serenka most recently was the superintendent of Sto-Rox School District, where she served from August 2005 to January 2011. She has also served in the Woodland Hills, and Steel Valley School Districts, the Diocese of Pittsburgh, and in schools in northern New Jersey. Dr. Serenka is a graduate of Steel Valley High School and has attended Duquesne University for all her degrees. She holds a Bachelor of Arts in Psychology and Political Science, a Master of Science Degree in Education Administration, and a doctorate in Educational Leadership. Dr. Serenka’s dissertation research was an analysis of student perceptions as related to resiliency. 0UV3HJJ\6FKZHLW]HU rejoined the district this spring as business manager. She will oversee all operations of the business office. Mrs. Schweitzer previously served in the capacity of assistant to the business manager in the district, as well as having previously served in a similar capacity in the Moon Area Schools. 0U%LOO$GG\ joined Montour School District as the school system’s first human resources director. Most recently he served as the director of human resources for the Allegheny Intermediate Unit. Prior to his assignment at the Allegheny Intermediate Unit, he was the director of human resources for the Mt. Lebanon School District. He earned his bachelor’s degree in Engineering from the United States Military Academy at West Point, New York and his master’s degree from Purdue University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t’s been an exciting year to be a Montour Spartan. From “There have been great coaches before me and there will Heinz Field to State College, Montour athletics teams have be great coaches after me. We all have something in played on the biggest stages in high school sports this school common – we have really good players,” he said. year. Adam hopes to build on the success the team had this “It’s been an excellent fall and winter,” Mr. Todd Price, year, next year, and into the future. high school principal, said. “I want to build a program that people can be proud of,” According to Athletic Director, Mr. Mitch Galiyas, three he said. The Kennedy township resident is also building things need to take place for successful athletic teams, “A his family. He and his wife Katie, who is also a Montour strong School Board alumnus, are and Administration expecting their first that is supportive of child, a daughter, athletics, a strong head in May. coach who is a leader The Montour and can sell his football team, led program to the school by head coach, and the community, Lou Cerro, won and a group of student the Parkway athletes who buy into Conference in the the program and are WPIAL and played willing to come to in the practice every day with championship a good attitude and game at Heinz give 100% of the Field. time. At Montour, we “Each and every have exceeded the week it was a fun criteria,” he said. atmosphere,” Mr. For the first time in Cerro said. school history, the “The Montour $%29(&RDFK$GDP.DXIPDQJLYHVKLVWHDPVRPHSRLQWHUVGXULQJD JDPH3+272%<$/$1+(7(5 high school basketball student body has team won the WPIAL had a tremendous AAA Championship, and played in the state championship year following both the football and basketball teams. game at State College. Additionally, their coach, Adam About a half dozen players play both sports and their Kaufman, was named Coach of the Year. Under Adam’s athleticism is shared and enjoyed by both coaches,” Mr. leadership, who Mr. Price describes as a “Montour kid, who Galiyas said. bleeds black and gold,” the team went 23 and 8 on the It hasn’t just been a successful year for the football and season. basketball team. The girls volleyball and basketball teams, “We thought we would be pretty good and had enough ice hockey team, and the boys and girls bowling teams won talent to be competitive,” Adam said. section titles. The Montour cheerleaders won an Adam, who is a sixth grade math teacher, attributes the international title at the Disney’s Sports World 2011 success of the basketball team to the experience they had last Championship. year in their playoff run, the talented team, and his Mr. Price said the excitement around the high school dedicated staff of assistant coaches. “My assistant coaches sports teams added to the atmosphere at the high school. deserve a lot of credit for putting the time in,” he said. “Athletics are a wonderful compliment to academics. It Mr. Price also thinks Adam had a lot to do with the team’s raises everyone’s sense of pride and school spirit,” Mr. Price success. “Adam does a good job. What I appreciate about said. him is the academic piece comes first. For a principal, that’s Mr. Galiyas agreed. He said, “The atmosphere at refreshing,” Mr. Price said. Montour High school has been nothing but glorious and Adam said it was a great honor to be recognized as Coach exciting for the students, athletes, and staff because of the of the Year. excitement over our successful sports teams,” he said. WWWMONTOURSCHOOLSCOM 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP %<0,&+$(/3+,//,36 ,?GILC?MCHNB?,?>C; 7KH0RQWRXU9LGHR<HDUERRN In this ever-changing world all of us have those memories of high school: our friends, our activities, and our teachers. Sometimes we look back at our yearbooks and they take us back to the days that were termed by our elders as the “best times of our lives.” In the past few years, and most recently in the past few months, Montour High School has been undergoing a serious transformation both physically and culturally with the upcoming opening of the renovated high school and the influx of 21st century technologies into the district. Yet one thing has remained the same, the memories that are made here are ones that will be remembered forever. Three years ago while cleaning out a few boxes at the high school, I found a few old VHS tapes collecting dust, but before throwing them into the trash, I looked at them and realized these were not just dusty old tapes. These were cherished memories. The labels read 1986, 1994, 1990, 1998 Montour Video Yearbook. I found a VCR and began to look at times gone by, people that I had personally known, and others that I had never met -- all part of Montour history. In my classes I showed my students the tapes and had them reflect. Students noticed homecoming weeks with student-made floats, football games with a student Spartan riding a real horse. Some saw their parents or relatives; some noticed pep assemblies that featured class rivalry. All of them saw the pride and what it truly means to be a Montour Spartan. After watching the tapes I knew that the Montour Video Yearbook needed to be brought back. I immediately got together a proposal and, with the help and support of Mr. Todd Price, the high school principal, and the Montour School Board, the video yearbook was back. The first new version of the video yearbook came out in the summer of 2009 for the class of 2009. Students and parents helped with the taping of sporting events, they lent pictures and videos. With their support, and the support of the administration, the video yearbook became an instant success and time capsule for the memories of each class. Videotaping the sporting events and activities in the district and having a camera ready to roll for each pep assembly, then hours on end at games and graduation, the video yearbook was not only a challenge, but became a labor of love for all of those involved. Last year’s video yearbook totaled over 100 hours of raw footage, an endless number of hours for filming, getting to events in all types of weather, several camera batteries and tapes, and many weeks of editing to get down to two hours of finished video. The Video Yearbook now is run by the Montour Academic Games team and is headed up by teacher Michael Phillips, seniors Julia Havko and Ashley Ball, and several other students. The yearbook serves as a fundraiser for the organization and each year donates part of the proceeds to the Susan G. Komen Race for the Cure in honor of Montour teacher Christina Frank. The video yearbook is a long way from those dusty VHS tapes and is being produced on DVD now, but the mission of capturing memories has not changed. The Montour Video Yearbook is currently working on this year’s edition and would like your help. If your son or daughter is part of the class of 2011 and you have video footage of elementary and middle school functions and activities and would be willing to let us borrow the footage for inclusion in our “Remember When” section of the video yearbook, please contact Mr. Phillips at [email protected]. In addition, we are also looking to create and complete a collection of all of the Video Yearbooks that have been produced throughout the years. We currently have 1986, 1994, 1996, 1997, 1999, 2009, and 2010. If you have a copy of any of the years not mentioned above, please contact Mr. Phillips at [email protected]. We will return all original copies of footage unless otherwise requested. 127(7KHUHDUHVWLOODIHZFRSLHVRIWKH DQG9LGHR<HDUERRNVDYDLODEOH IRUVDOH7KHUHDUHDOVRFRSLHVRIWKH &ODVVRIJUDGXDWLRQDYDLODEOH &RQWDFW0U3KLOOLSVIRUPRUHLQIRUPDWLRQ 7KH+LJK6FKRRO6HQLRU)DUHZHOO&RQFHUWVZLOOEHKHOGLQ0D\7KHLQVWUXPHQWDO +LJK6FKRRO FRQFHUWZLWKWKH&RQFHUW%DQG-D]]%DQGDQG3HUFXVVLRQ(QVHPEOHZLOOEHKHOGRQ )DUHZHOO&RQFHUWV 7XHVGD\0D\7KHYRFDOFRQFHUWZLOOEHKHOGRQ:HGQHVGD\0D\%RWK FRQFHUWVEHJLQDWSPLQWKH'DYLG(:LOOLDPV0LGGOH6FKRRO$XGLWRULXP +LJK6FKRRO%XVLQHVV6WXGHQWV 3DUWLFLSDWHLQ1DWLRQDO&KDOOHQJH Recently, 13 Montour High School students from Mr. Nate Galiyas’s business classes participated in Deloitte’s Virtual Team Challenge, a business simulation and employer branding program designed to introduce high school students to core business skills including teamwork, professionalism, business sense, and responsibility. This innovative program gives high school students a hands-on introduction to today’s business world. Through a business-oriented video game simulation, they are able to develop and apply theoretical learning skills into practical ones. The game itself takes place in “New City,” a 3-D world that challenges students to design avatars, collaborate in teams, and apply business skills to clean up the oil spill and win the challenge. This year’s version of the challenge attracted more than 1,400 students from high schools across the country. One group of students from Montour had a very noteworthy performance. The team, consisting of junior Roy Cross, sophomore Sadie Davis, and freshman Anastasia Paulson-Aponte, finished 17th out of 400 teams. They collectively staged one of the most efficient disaster recovery efforts by selecting the most effective vendors based on research conducted in-game, and hiring them at the best possible price. Congratulations to Roy, Sadie, and Anastasia for finishing in the top 5% in the country! :($5(),7 Nearly 20 student athletes from Montour High School and The Early Learning Institute (TELI) teamed up for the “We Are Fit” program on April 6 at TELI’s Ohio Valley Learning Center. The student athletes created physical fitness stations for the children aged two to five to enjoy while learning more about cardiovascular health, agility, nutrition, and flexibility. The lessons about eating well and living a healthy lifestyle were reinforced through curriculum in the classroom. TELI parents were encouraged to get involved and work with their children to stay healthy. Barbara Pergar, Center Coordinator at The Ohio Valley Learning Center, spoke of the importance of community projects such as this saying, “The children are used to us and their parents teaching them things, but to see it from a high school student’s perspective is just great.” Lou Cerro, head of district facilities and events and head football coach for Montour High School, also believes that his student athletes will benefit from the experience. “We try to branch our kids out to do as many things as possible to help out the community in the Montour School District and surrounding areas, so it’s a good experience for their growth into adulthood.” Over 30 children enjoyed the day’s activities including playing catch, stretching, running, and even tasting healthy foods while learning about the food pyramid. Student football player Tyler Haddock said it best. “It is very important because you don’t want kids just sitting around playing video games. It’s always good to keep these kids in shape for the future, because they are the future.” 0,''/(6&+22/ 92//(<%$// 7($068&&(66 $%29(2Q6DWXUGD\0DUFK0RQWRXU¶VHLJKWKJUDGHJLUOV¶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ouring a building under construction is an interesting journey. However, adding a group of engineering students to the mix during a recent tour of the Montour High School renovation project brought classroom learning to a new level of awareness and understanding. In April, Stephen Connell, of Apostolou Associates, the architectural firm that designed the renovations, took the students from the high school Civil Engineering class on a tour to see how the blueprints they have been studying in class from the high school construction project are coming to fruition in an actual setting. Stephen gave an entire set of the building plans to teacher Jesse Langman so the students could study them and learn about the components in a building construction project. Through Project Lead, Jesse has engaged the engineering class in a mock renovation of a library project. “The students had to look up building codes for components, from the utilities and plumbing to electrical,” he explained. “This brought home the idea to schedule a tour of the high school renovation project so the students could see the scope of the project at this point,” Jesse added. The tour encompassed the entire complex, and revealed a work in progress that will include a fully Wi-Fi enabled campus. The students saw “behind-the-scenes” components such as cabling, electrical, and plumbing. They saw cut-outs in the hallway walls where recessed display cases will be housed. They saw the progress of the science labs, the art rooms, and the library. Stephen showed the students how parts of the plumbing system were constructed offsite, then brought to the school for installation. $OOHJKHQ\:HVW0DJD]LQH0D\ “It’s easier to build the components in the shop, where they have all the tools and fittings, rather than try to do it onsite,” he explained. The bathrooms will also have on-demand lighting, one of many energy savings within the building. Senior Chris DeMatty said, “It’s incredible. This will be so nice; what an improvement, and how quickly it is going up.” Nick Maslakowski, also a senior, concurred. “This is way better than we were told.” Along the hallways, framework was being constructed for each department’s signage to be displayed as students move from one part of the building to another. The tour included a peek inside the intermediate gym, which will provide seating for 660 on new bleachers, as well as a batting cage. The current main gym will be renovated at a later date. The new weight room was also shown. Jason Burik, assistant superintendent, said that $100,000 in new equipment has been ordered for the room. One of the most dramatic changes on the campus will be the connection of the two buildings into one. Enclosed corridors will connect the buildings, as will a front entrance lobby area that will now serve as the main school entrance. School buses will drive up the current driveway, then continue around a circular driveway to the main canopy, where students will get on and off the buses and enter the building. Other new additions will be a Spartan Shop where students can purchase supplies and Montour apparel, a stand-alone art gallery featuring artwork by Montour students that will be purchased with 6725<$1'3+2726 %<3$7-(11(77( funds allotted by the school board, a new multi-use backstage area and band storage room in the former boiler room, and new science labs that will incorporate a greenhouse for learning botany. The greenhouse is being constructed alongside the former entrance to the grades 9-10 building. “Dr. Donald Boyer, school district superintendent, had a lot of ideas that he brought to this project to make it cutting edge, such as a coffee shop in the new library and a student art gallery,” explained Jason Burik. Technology will be key in the new high school. Besides campus-wide WiFi, students will have access to netbooks, iPads, and Nooks. In the library, Jason explained that that there will be more eBooks than regular books. Throughout the building, 12 video panels will announce such things as events, schedules, news feeds and, in the cafeteria, the menus. Said Beau Castelucci, a junior on the tour, “In the old learning environment it was hard to learn before; with this new technology and the new school, it will definitely be a lot better.” Added student Harry Colberg, “The technology in the new building will be so nice; we will have a lot more options to use rather than use paper.” The district plans to have the school ready for students when classes resume in the fall, followed by a dedication of the building in October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ongratulations to the following high school juniors who have qualified to participate in the National Merit Scholarship Program: Christine Baker, Corey Crist, Andrew Hodowanec, Elizabeth Hoggard, and Sri Rao. 7 KH 0RQWRXU 6F KRRO 'LVWULFW QR Z RI V 6SDU WDQ 7H [W $OHU WV WR SU 6FKRRO QRZ RIII HU HUV SURR YLGH XVHU V ZLWK XSWRGD WH EU HDNLQJ QH ZV KRRO FFORVLQJV ORVLQJV DQG GHOD \V DQG XVHUV XSWRGDWH EUHDNLQJ QHZV ZV VF VFKRRO GHOD\V W VXFFHVV XVLQJ WKH RWKHU LPSRU WDQW GLVWULFW QH ZV QHZV ZV 7 KH GLVWULFW KDV KDG JJUU HD HDW $OHU W1R Z FDOOLQJ V\VWHP DQG SODQV WR FRQWLQ XH XVLQJ LW LQ FRQMXQFWLRQ ZLWK W1RZ FRQWLQXH [W DOHU WV WR RQH· V FHOO SKRQH RU PRELOH GH YLFH HQGLQJ WH RQH·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·V6FKRRO )RUHQVLF :LQQHUV 6WXGHQW+RQRUHGDW/HDGHUV&RQIHUHQFH 6W3KLOLS 6KH·V :HVWHUQ 3$·V 6SHOOLQJ :LQQHU 6W3KLOLSHLJKWKJUDGHU$GULDQQH.XELDNGHIHDWHG FRPSHWLWRUVWREHFRPHWKHZLQQHURIWKHVW$QQXDO:HVWHUQ 3HQQV\OYDQLD6SHOOLQJ%HHVSRQVRUHGE\830&&KLOGUHQ·V7KH &DUQHJLH6FLHQFH&HQWHUDQG7KH3LWWVEXUJK3RVW*D]HWWH $VHFRQGSODFHILQLVKHULQODVW\HDU·V%HH$GULDQQHVSHOOHGWR YLFWRU\ZLWKWKHZRUG´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·V6FKRRODWWKLVQDWLRQDOFRQIHUHQFH 'HVLJQ/LYHV+HUH 6W3KLOLS7KLQNLQJ&DSVVWXGHQWVDUH SDUWLFLSDWLQJLQDQLQQRYDWLYHSURMHFW VSRQVRUHGE\WKH:4('(GXFDWLRQ'HSDUWPHQW WKDWSURYLGHVHQJLQHHULQJDQGGHVLJQDFWLYLWLHV DVZHOODVPHQWRUVWRPLGGOHVFKRROFODVVHV WKURXJKRXWWKHUHJLRQ'HVLJQ/LYHV+HUHLVD VWXGHQWRXWUHDFKSURJUDPEDVHGRQWKH3%6 WHOHYLVLRQSURJUDPFDOOHG'HVLJQ6TXDG1DWLRQ DUHDOLW\EDVHGSURJUDPFUHDWHGWR´LQVSLUHWKH QH[WJHQHUDWLRQRIHQJLQHHUVµ :RUNLQJZLWKWKH(QJLQHHUV·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´7KHIRUHQVLFWHDP·V VXFFHVVLVQRWGHWHUPLQHGE\WKHLUWURSKLHVµ 0V<XQNHUVDLGUHJDUGLQJ%LVKRS&DQHYLQ·V IRUHQVLFVSURJUDP´,W·VPHDVXUHGE\WKH OLIHORQJVNLOOVWKHPHPEHUVGHYHORSDQGFDUU\ ZLWKWKHPEH\RQGWKHLUKLJKVFKRRO\HDUVµ 6FKRRO 5HFHLYHV *UDQW IURP%OXH&URVV%OXH6KLHOG %LVKRS&DQHYLQ+LJK6FKRROKDVEHHQ DZDUGHGDJUDQWIURP+LJKPDUN%OXH &URVV%OXH6KLHOGWRVXSSRUWWKHVFKRRO·V6W ,JQDWLXV6FKRODUV3URJUDPDQLQQRYDWLYH SURJUDPGHVLJQHGWREHWWHUSUHSDUHOHDGHUVIRU WRPRUURZ7KURXJKWKHJUDQW%LVKRS&DQHYLQ +LJK6FKRROZLOOSURYLGHVFKRODUVVWXGHQWVZLWK H[SHULHQFHRXWVLGHRIWKHFODVVURRPWKURXJK VSHDNHUVDQGVLWHYLVLWV²ZLWKDVSHFLILF HPSKDVLVRQKHDOWKFDUHDQGPHGLFLQH $FFRUGLQJWR3ULQFLSDO.HQQHWK6LQDJUD %LVKRS&DQHYLQODXQFKHGWKLVSURJUDPWR ´HQKDQFHRXUSUHVHQWYDOXHVDQGPLVVLRQRI LQVSLULQJVWXGHQWVWROHDGOLYHVDQFKRUHGLQ IDLWKHQKDQFHGWKURXJKOHDUQLQJDQGHQULFKHG WKURXJKVHUYLFHWRRWKHUVµ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·VLQLWLDO FRKRUWUHFHLYHGWKHWUDLQLQJIUHHRIFKDUJHEXWWKHUHPD\EHD FKDUJHIRUDQ\IXWXUHFRKRUWV 0RVWRIWKHFRXUVHWRRNSODFHDW&&$&²:HVW+LOOV&HQWHULQ 2DNGDOHDOWKRXJKRQHZHHNRIKDQGVRQHGXFDWLRQRFFXUUHGDWD VLWHVHWXSE\:HVWPRUHODQG&RXQW\&RPPXQLW\&ROOHJH6WXGHQWV ZHUHEXVHGWR:HVWPRUHODQG&RXQW\IRUWKDWWUDLQLQJ,QDGGLWLRQD UHSUHVHQWDWLYHRI&KHVDSHDNH(QHUJ\SURYLGHGDQLQGXVWU\RYHUYLHZ DQGDWRXURIDZHOOVLWHDWWKHVWDUWRIWKHFODVV ´7KHURXVWDERXWWUDLQLQJSURJUDPLVSDUWRI&&$&·VFRPSUHKHQVLYH UHVSRQVHWRWKHJURZWKRIWKH0DUFHOOXV6KDOHQDWXUDOJDVLQGXVWU\LQ 3HQQV\OYDQLDµVDLG&KDUOHV%ORFNVLGJHH[HFXWLYHGLUHFWRURIWKH &&$&²$OOHJKHQ\&RXQW\:RUNIRUFH$OOLDQFH $OOHJKHQ\:HVW0DJD]LQH0D\ 3DUNZD\:HVW&7&KDVDGGHG3UHFLVLRQ0DFKLQLQJ5RERWLFVWRLWVFRXUVHVHOHFWLRQVWKLV IDOO7KHSURJUDPZDVLQWURGXFHGGXULQJDVSHFLDORSHQKRXVHRQ$SULO $FFRUGLQJWRWKH3HQQV\OYDQLD&HQWHUIRU$GYDQFHG0DQXIDFWXULQJ&DUHHUV 5HSRUWWKHUHDUHFULWLFDOVKRUWDJHVRISUHFLVLRQPDQXIDFWXULQJDQGLQGXVWULDOPDLQWHQDQFH WHFKQLFLDQVLQ3HQQV\OYDQLD·VPDQXIDFWXULQJVHFWRU $GGLWLRQDOO\DGYDQFHGPDQXIDFWXULQJFDUHHUVSD\SHUFHQWPRUHWKDQWKHVWDWH DYHUDJHZLWKDQDQQXDOVDODU\RI $QGWKHUHSRUWDOVRVWDWHVWKDWWKHUHDUHLQGLYLGXDOVZRUNLQJDVSUHFLVLRQ PDFKLQLVWVDQGLQGXVWULDOPDLQWHQDQFHWHFKQLFLDQVLQ3HQQV\OYDQLD,WLVHVWLPDWHGWKDW HPSOR\HUVZLOOQHHGEHWZHHQDQGPRUHZRUNHUVZLWKLQWKHQH[WGHFDGH 7KHZRUNIRUFHIRUWKLVFDUHHULVFRQVLGHUDEO\ROGHUWKDQLQDQGDQGKDV DJHGVWHDGLO\RYHUWKHSDVWGHFDGH$QHVWLPDWHGRQHWKLUGRIWKHVWDWH·VZRUNIRUFHLQ WKLVILHOGLVQRZRYHUDJHDQGPRVWRIWKHPZLOOUHWLUHLQWKHQH[WWHQ\HDUV +LJKVFKRROVWXGHQWVFDQDWWHQGWKLVSURJUDPKDOIGD\ZKLOHDOVRDWWHQGLQJWKHLUKRPH VFKRRO6WXGHQWVDQGWKHLUSDUHQWVZKRDUHLQWHUHVWHGLQWKLVSURJUDPDUHZHOFRPHWRFDOO 5RELQVRQ7RZQVKLS&KULVWLDQ6FKRRO 7KH\+DYHD+HDUWIRU&RPPXQLW\6HUYLFH 3+27268%0,77(' $%29(6W0DODFK\&KLOGUHQ¶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´FDUHSDFNDJHVµDQGOHWWHUVWR 57&6DOXPQLZKRDUHDZD\DWFROOHJH7KHFOXE·VQH[WSURMHFWLVDQDQQXDORQH³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¶V7HDFKHU,QFHQWLYH )XQG7,)FKDUWHUVFKRROSDUWQHUVDQGSULYDWH SKLODQWKURSLFIXQGHUV7KLV\HDUWKHDZDUG ZLQQHUVZHUHVHOHFWHGIURPFKDUWHUVFKRROV DFURVVVWDWHVDQGWKH'LVWULFWRI&ROXPELD FRPSHWLQJLQWKH(3,&1DWLRQDO&KDUWHU6FKRRO &RQVRUWLXP ³:HDUHYHU\SURXGWREHUHFRJQL]HGRQD QDWLRQDOOHYHOIRURXUZRUNLQSXEOLFHGXFDWLRQ´ VDLG'U&DURO:RRWHQ3URSHO¶V6XSHULQWHQGHQW ³7KLVLVDSDUWLFXODUO\H[FLWLQJ\HDUIRU 3URSHO0RQWRXUZKRLVUHFHLYLQJWKLV SUHVWLJLRXVDZDUGIRUWKHILUVWWLPH´VKHVDLG 3URSHO0RQWRXUVWXGHQWVGHPRQVWUDWHG RYHUDOOJURZWKIURP¶µWR¶µ366$ WHVWVRISHUFHQWDJHSRLQWVLQUHDGLQJDQG SHUFHQWDJHSRLQWVLQPDWK2QODVW\HDU¶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³7KLV DZDUGLVDOVRDQRSSRUWXQLW\WRKLJKOLJKWZKDW RXUVWXGHQWVGRWKDWLVVXFFHVVIXO´ 0LNH(YDQVZKRWHDFKHVDW3URSHODGGHG ³,WLVHVSHFLDOO\H[FLWLQJWRUHFHLYHWKLVDZDUG EHFDXVHZKHQPRVWRIRXUVWXGHQWVDUULYHG KHUHWKH\ZHUHEHORZJUDGHOHYHO DFDGHPLFDOO\´ 7KHPDMRULW\RI3URSHO¶VVWXGHQWVDUHIURP WKH3LWWVEXUJK3XEOLF6FKRROVDQG6WR5R[ 6FKRRO'LVWULFW /()77236WXGHQWVHQJDJHLQDUWFODVVHVWKDW LQFOXGHVWXG\LQJ WKH 0DVWHUV ZRUNLQJRQ JURXS SURMHFWVDQG SUHVHQWLQJ WKHLU ZRUN EHIRUH WKHLU IDPLOLHVGXULQJ³&HOHEUDWLRQVRI/HDUQLQJ´HYHQWV KHOGGXULQJWKHVFKRRO\HDUWKDWDUHKLJKO\ DWWHQGHG6WXGHQWVUHFHLYHGDLO\EORFNVRIWLPHWR VWXG\WKH DUWV 7KH\ URWDWH LQ VL[ZHHN SHULRGV VWXG\LQJPXVLFWKHDWUHILQHDUWVDQGRWKHUDUWV GLVFLSOLQHV7KHVFKRROKDVWZRIXOOWLPHPXVLF HGXFDWRUVDQGRQHIXOOWLPHDUWHGXFDWRU /()7%277207HDFKHUVXVHDZKLWHERDUGDQG DZKLWHWDEOHWRHQJDJHVWXGHQWVLQLQWHUDFWLYH OHDUQLQJ7KHDYHUDJHWHDFKHUWRVWXGHQWUDWLRLV 6PDOOJURXSOHVVRQVRFFXUGDLO\LQWKH FODVVURRPVZLWKLQVWUXFWLRQLQHDFKVPDOOJURXS JHDUHGWRWKHVWXGHQWV¶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´,WKLQNWKHUHLVVWLOODGHPDQGDQGQHHGIRU QXUVHVEXW,WKLQNWKHMREVPD\EHDOLWWOHGLIIHUHQW WKDQLQWKHSDVWµ/RFDVWRVDLG6KHEHOLHYHVWKDW JUDGXDWHVPD\ILQGMREVLQUHKDELOLWDWLRQDQG RXWSDWLHQWFRPPXQLW\DJHQFLHVDVZHOODVWKHDFXWH DUHDVVXFKDVKRVSLWDOVZKHUHJUDGXDWHQXUVHVKDYH VRXJKWHPSOR\PHQW 1XPEHUVGRQ·WOLH508·V6FKRRORI1XUVLQJLV UDSLGO\JURZLQJLQVL]HDQGLQWHUHVW/RFDVWRVDLGWKH SURJUDPKDVPRUHDSSOLFDQWVWKDQWKH\FDQDGPLW7KH XQLYHUVLW\KDVUROOLQJDGPLVVLRQVDQGFXUUHQWO\KDVD ZDLWOLVWIRUWKHFODVVEHJLQQLQJLQWKHIDOORI ´$Q\RQHZKRDSSOLHVDWWKLVSRLQWPD\EHZDLWOLVWHGµ /RFDVWRVDLG´:HKDYHDVPDQ\DSSOLFDQWVDWWKLV SRLQWLQWLPHDVZHKDGDOORIODVW\HDU,QDYHU\VKRUW SHULRGRIWLPHZH·YHEHFRPHDIDLUO\ODUJHVL]HG SURJUDPZLWKLQWKHXQLYHUVLW\LWVHOIµ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·VFROODERUDWLYHUHODWLRQVKLSZLWKWZR&KLQHVH XQLYHUVLWLHV 508·VPRGHUQWHFKQRORJ\DOVRDWWUDFWVSRWHQWLDO VWXGHQWV7KHVFKRROKDVDZHOOGHYHORSHGKLJK ILGHOLW\VLPXODWLRQODEZKHUHWKHVWXGHQWVSUDFWLFHDQG OHDUQRQ´PDQLNLQVµZKLFKFDQPLPLFKXPDQEHLQJV 7KHPDQLNLQVKDYHDSXOVHEUHDWKDQGFDQPDNH YHUEDOUHVSRQVHVWRWKHVWXGHQWV7KHVLPXODWLRQ H[SHULHQFHLVZRQGHUIXOIRUWKHVWXGHQWVZKRFDQ SUDFWLFHDQGJHWFRPIRUWDEOHZLWKWUHDWLQJWKHPDQLNLQ EHIRUHJRLQJWRWKHKRVSLWDOWRVHHSDWLHQWV(YHU\ FOLQLFDOFRXUVHLQWKHXQGHUJUDGXDWHFXUULFXOXPKDV VLPXODWLRQH[SHULHQFHVDVSDUWRIWKHFRXUVH ´7KHVLPXODWLRQH[SHULHQFHSURYLGHVDKXJHEHQHILW IRUVWXGHQWVEHFDXVHLWRIIHUVFRQVLVWHQWFOLQLFDO H[SHULHQFHVIRUHDFKVWXGHQWµ/RFDVWRVDLG´1RWHYHU\ VWXGHQWZLOOKDYHDSDWLHQWLQWKHKRVSLWDOZLWKWKHVDPH V\PSWRPVµ )RUH[DPSOHQRWHYHU\QXUVLQJVWXGHQWLVJRLQJWR KDYHDSDWLHQWKDYLQJDKHDUWDWWDFNLQWKHKRVSLWDOEXWLQ WKHVLPXODWLRQODEDFRQVLVWHQWH[SHULHQFHIRUDOO VWXGHQWVFDQEHSURYLGHG'U9DOHULH+RZDUGDQXUVH ZLWKDGRFWRUDOGHJUHHLVWKHGLUHFWRURIWKHVLPXODWLRQ FHQWHUDQG-DQLFH6DUDVQLFNDQXUVHZLWKDPDVWHU¶V GHJUHHXVXDOO\UXQVWKHVLPXODWLRQV7KHVFKRRODOVR HPSOR\VDQ,7WHFKQLFLDQ&KXFN6LPRQZKRPD[LPL]HV WKHH[SHULHQFHVWKDWWKHVWXGHQWVJHWIURPVLPXODWLRQ 508SDUWQHUVZLWKPDQ\ORFDOKRVSLWDOVDQGLQVWLWXWLRQV 1XUVLQJVWXGHQWVJRWRVLWHVVXFKDV+HULWDJH9DOOH\ 6HZLFNOH\%HDYHU9DOOH\0HGLFDO&OLQLF0DJHH6W&ODLU YDULRXV830&IDFLOLWLHVDQG&KLOGUHQ·V+RVSLWDOIRUWKHLU FOLQLFDOH[SHULHQFH7KHVWXGHQWVKDYHFOLQLFDOH[SHUL HQFHVDWDYDULHW\RIFOLQLFDOVLWHVLQRUGHUWRJHWD EURDGEDVHGH[SHULHQFHWRPDNHWKHWUDQVLWLRQIURP VWXGHQWWRSURIHVVLRQDOQXUVH /RFDVWREHOLHYHVWHFKQRORJ\FRPPXQLFDWLRQVPDOO FODVVVL]HVDQGWKHLQWHUQDWLRQDOH[SHULHQFHVVHW508 DSDUW ,QWKHQHDUIXWXUHWKHFRPPXQLW\PD\VHHFRQVWUXFWLRQ EHJLQRQDQHZEXLOGLQJRQWKH5REHUW0RUULV·8QLYHUVLW\ FDPSXV5HFHQWO\WKH'HSDUWPHQWRI1XUVLQJUHFHLYHGD JUDQWRIPDWFKLQJIXQGVWREXLOGDQHZVLPXODWLRQFHQWHU 7KHJUDQWZLOOEHXVHGRYHUDILYH\HDUSHULRG7KHKRSHV DUHWREXLOGDQHZVHSDUDWHEXLOGLQJIRUWKH'HSDUWPHQW RI1XUVLQJ 3,&785('/()7$Q508QXUVLQJVWXGHQWSUDFWLFHV KHUVNLOOVRQWKHPDQLNLQ 7+,63$*(6WXGHQWVOLVWHQWRRQHRIWKHLULQVWUXFWRUVLQ FODVV 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP -HIIHU\%DUQHV· *HQHYD&ROOHJH+XPDQ5HVRXUFHV &ODVV:HVWHUQ$OOHJKHQ\&RXQW\$UHD :KHQ-HIIHU\%DUQHVMRLQHGWKH*HQHYD&ROOHJH$GXOW 'HJUHH&RPSOHWLRQ3URJUDPKHZDVORRNLQJIRUDSUDFWLFDODQG DIIRUGDEOHZD\WRFRPSOHWHKLVEDFKHORU¶VGHJUHH:KDWKH IRXQGZDVDQDFDGHPLFDOO\H[FHOOHQW&KULVWFHQWHUHGLQVWLWX WLRQWKDWFKDOOHQJHGKLPWRDFKLHYHKLVEHVWDQGRSHQHGWKH GRRUWRDGYDQFHPHQWDQGOLIHFKDQJLQJRSSRUWXQLWLHV ³*HQHYDKDVKHOSHGPHVXUSDVVDQ\JRDOV,KDGIRUP\VHOI EHIRUHEHJLQQLQJWKH$'&3´KHVD\V³,OHIWWKH1DY\DIWHU QHDUO\\HDUVRQDFWLYHGXW\ZRUNLQJLQDOODVSHFWVRIODZ HQIRUFHPHQW,KDGWUDLQLQJWKDWIDUVXUSDVVHVZKDWPDQ\ SROLFHRIILFHUVJHWLQDFDUHHUEXWWKDWZDVVWLOOQRWHQRXJKWR XQORFNPDQ\GRRUVWKDWUHPDLQHGFORVHGWRPHZLWKRXWD GHJUHH´ )ROORZLQJKLVH[WHQVLYHFDUHHULQWKHPLOLWDU\-HIIOHIWDFWLYH GXW\WRHQUROODVDWUDGLWLRQDOVWXGHQWDWDORFDOXQLYHUVLW\EXW KDGGLIILFXOW\EDODQFLQJFRXUVHZRUNZLWKKLVIXOOWLPHMREDQG FRPPLWPHQWWRWKHQDYDOUHVHUYH+HOHIWVFKRRODQGMRLQHGWKH DLUIRUFHUHVHUYHDVDWHFKQLFLDQZKHUHKLVWUDLQLQJPDQDJHUD JUDGXDWHRI*HQHYD&ROOHJHLQWURGXFHGKLPWRWKH$'&37KH $'&3¶VFRQYHQLHQWRQHQLJKWDZHHNGHVLJQDQGK\EULG RQOLQHFRXUVHVILWKLVVFKHGXOHDQGKHHQUROOHGDVDKXPDQ UHVRXUFHVPDMRU 7KHVWUXFWXUHRIWKH$'&3KHOSHG-HIIEDODQFHKLVSURIHV VLRQDODQGDFDGHPLFUHVSRQVLELOLWLHVEXWLWDOVRVXUURXQGHG KLPZLWKDXQLTXHFLUFOHRIIULHQGV'LYLGLQJVWXGHQWVLQWR FRKRUWVWKH$'&3DOORZVHDFKFODVVJURXSWRPRYHWKURXJK $OOHJKHQ\:HVW0DJD]LQH0D\ WKHHQWLUHSURJUDPWRJHWKHU(DFKFRKRUWEHFRPHVLWVRZQ QHWZRUNRIVXSSRUWDQGIRU-HIIHU\¶VJURXSWKDWQHWZRUN VWUHWFKHGIDUEH\RQGWKHZDOOVRIWKHFODVVURRP 'XULQJKLVWLPHLQWKHSURJUDP-HII¶VFODVVPDWH-DPHV 1DLPDSROLFHRIILFHULQ$OLTXLSSD3$ZDVNLOOHGLQWKHOLQHRI GXW\+XPDQ5HVRXUFHV&ODVVGHFLGHGWROHDYHDOLYLQJ OHJDF\LQKRQRURIWKHLUIDOOHQFODVVPDWH$ORQJZLWKWKH VXSSRUWRI*HQHYDWKHFODVVZDVDEOHWRHVWDEOLVKWKH-DPHV 1DLP6FKRODUVKLSIXQG ³,WVWDQGVDVDOLYLQJWULEXWHWRWKHOHJDF\RI-LPKLVIDPLO\ DQGWKHJHQHURXVVSLULWRI*HQHYD&ROOHJH´-HIIVD\V $IWHUJUDGXDWLQJ-HIIEHJDQZRUNLQJIRUWKHVWDWHRI 3HQQV\OYDQLDLQDKXPDQUHVRXUFHVPDQDJHPHQWWUDLQHH SURJUDP+HWKHQUHWXUQHGWR*HQHYD&ROOHJHDQGHDUQHGD 0DVWHURI6FLHQFHLQ2UJDQL]DWLRQDO/HDGHUVKLSZKLFKKHOSHG KLPUHFHLYHWKHSURPRWLRQWRFKLHIODERUUHODWLRQVFRRUGLQDWRU DW1RUULVWRZQ6WDWH+RVSLWDO+HODWHUPRYHGWR:DVKLQJWRQ '&WRZRUNLQODERUUHODWLRQVIRUWKH)HGHUDO%XUHDXRI 3ULVRQVDQGLVFXUUHQWO\ZRUNLQJDVDKXPDQUHVRXUFHV PDQDJHUIRUWZRRI*LDQW(DJOH¶VUHWDLOGLVWULEXWLRQFHQWHUV -HIIVD\VWKDWKHIHOWKLVJUHDWHVWVHQVHRIDFFRPSOLVKPHQW DWJUDGXDWLRQUHPHPEHULQJWKHLPSRUWDQFHRIVWD\LQJ IRFXVHGRQKLVJRDODQGWKHVXSSRUWSURYLGHGE\*HQHYD¶V DFFRPSOLVKHGDQGFDULQJIDFXOW\³*HQHYD&ROOHJHLVMXVWDV FRPPLWWHGWR\RXUVXFFHVVDV\RXDUHDQGSURYLGHVVXSSRUW IURPDFDGHPLFDGYLFHWRVSLULWXDOPRWLYDWLRQ´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³,QP\IUHVKPDQ\HDU,PHWWKHPDQZKR,NQHZZRXOGEHFRPH P\KXVEDQG 6WHYHQ 'DQLHOV´ VKH IRQGO\ UHFDOOV 7KHWZRPDUULHGODVW6HSWHPEHU 0RVW\RXQJZRPHQGUHDPRIWKDWELJGD\DQGDOOWKDWLWHQFRP SDVVHV7KH\ORRNIRUZDUGWRWDNLQJDKRQH\PRRQWRUHOD[DIWHUDOO WKHHQHU J\ H[SHQGHG LQ WKH PRQWKV OHDGLQJ XS WR WKH ELJ GD\ ,WZDVQ¶WTXLWHWKDWZD\IRU1RHOOH ³:KHQ,ZDV\HDUVROG,NQHZ,ZDQWHGWREHFRPHLQYROYHGLQ ODZHQIRUFHPHQW´1RHOOHUHFDOOV6KHDGGV³,KDGWDONHGWRDIHZ UHFUXLWHUVEHIRUH FROOHJH DQG HQWHUWDLQHG WKH LGHD RI EHFRPLQJ D 7URRSHU2QFHLQFROOHJH,ZDVDEOHWRWDONWRYDULRXVUHFUXLWHUVDQG DFTXLUHPRUHLQIRUPDWLRQUHJDUGLQJWKHRUJDQL]DWLRQ7KHPRUH, KHDUG DERXW WKHOHJDF\ RI WKH3HQQV\OYDQLD 6WDWH 3ROLFH 363 WKH PRUH, GHVLUHG WR EH SDUW RI VXFK DQ RXWVWDQGLQJ OHJDF\ RI ODZ HQIRUFHPHQW:KHQ WKH RSSRUWXQLW\ DURVH , VLJQHG XS IRU WKH ZULWWHQH[DPDQGGHFLGHGWRVHHKRZIDULQWKHSURFHVV,FRXOG PDNHLW´ 1RHOOHVDLGWKDWDIWHUDERXWWZR\HDUVRISURFHVVLQJGXHWR EXGJHWDU\FRQVWUDLQWV WKURXJK WKH VWDWH VKH ILQDOO\ JRW WKH OHWWHU VKHZDVZDLWLQJIRU ³, KDG SDVVHG DOO WKH SURFHVVLQJ DQG ZDV LQYLWHG WR WKH $FDG HP\´VKH VDLG 6KHZRXOGEHDPHPEHURIWKHVW&DGHW&ODVVDQGFRXOGQ¶W ZDLWWRUHSRUW 6KHDQG6WHYHQNQHZLWZRXOGEHDPDWWHURIWLPHEHIRUHVKH ZRXOGEHFDOOHGIRUWUDLQLQJDQGWKH\ZHQWDKHDGZLWKWKHLU ZHGGLQJ SODQV ³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´ 7KDW 6DWXUGD\V KHD QG6 WHYHQVDLG ³, GR´DQG FHOHEUDWHGWKH QLJKWDZD\8QIRUWXQDWHO\WKHUH ZRXOG EH QR KRQH\PRRQ DV VKH ZDVWRUHSRUWDWSPWKHHYHQLQJRI6XQGD\6HSWHPEHU 1RHOOHVSHQWZHHNVWUDLQLQJDWWKH$FDGHP\DQGJUDGXDWHG DVRQHRIZRPHQLQWKHFODVVRIPHPEHUV2QO\1RHOOHDQG RQHRWKHU ZRPDQ ZDV IURP WKH ZHVWHUQ VLGH RI WKH VWDWH :KHQVKHORRNVEDFNRQLWQRZ1RHOOHVDLG³7KHH[SHULHQFH ZDVFHUWDLQO\VRPHWKLQJ,ZLOOQHYHUIRUJHW,WLVDSURFHVVWKDWZLOO WHVW\RX SK\VLFDOO\PHQWDOO\DQG HPRWLRQDOO\7KH VWUHVV RI D QHZ H[SHULHQFHOLYLQJDZD\IURPIDPLO\QHZUHJXODWLRQVWRDELGHE \ DQGQHZ H[SHULHQFHV WKDW WR VRPH PD\ EH TXLWH LQWLPLGDWLQJ ZDV UHDOO\VRPHWKLQJ´ ³7KH363LVDWLJKWNQLWFRPPXQLW\RISHRSOHIURPDOORYHUWKH VWDWH1RPDWWHUZKHQRUZKHUHWKH\ZLOOEHWKHUHIRU\RXLQJRRG DQGWRXJK WLPHV´ -XVWSULRUWRKHUJUDGXDWLRQIURPWKH$FDGHP\1RHOOHZDV DVVLJQHGWR 7URRS( (ULH :DUUHQE DUUDFNVL Q :DUUHQZKHUH VKH PDNHVKHUKRPHZLWK6WHYHZKRLVDWHDFKHULQWKH%UDGIRUG$UHD 6FKRRO'LVWULFW 1RHOOHLVDSDWURO7URRSHU,Q\HDUVWRFRPHVKHPD\DSSO\IRU H[DPVWR REWDLQ FHUWLILFDWLRQV DQG VSHFLDOL]DWLRQV ,QWKHPHDQWLPH1RHOOHLVSURXGWREHD3HQQV\OYDQLD6WDWH 7URRSHUD QG KDSSLO\ PDUULHGWR 6WHYH ,WDOO ZRUNHGRXW LQWKH HQG DQGWKH WZR FRXOGQ¶W EH KDSSLHU VHUYLFHRYHUWKHFRPLQJ\HDUV 3HUKDSVLWZLOOEHDQLQVSLUDWLRQIRURWKHUVWRFRPHXSZLWKWKHLU RZQ³ZRUG´RINLQGQHVVDQGFRPPXQLW\VHUYLFH+RZDERXWJXP GURSVRUMHOO\EHDQVRUWKHLGHDVDUHHQGOHVV 7KH&KRFRODWH &OXE *LUOV 5DFKHO:KLWH +DQQDK%RVFR $ULQD'LOOLQJHU 2OLYLD ,VHQEHUJ 6DPL1HOVRQ 6RILD3DVFHN 0DXUD3RUWR $EE\5DWKZD\ 5HEHFFD:KLWH 5HQHH%HQLJQL /LD)HUUDFFLR +D\OH\ *LJOLRWWL $EE\0FFRUPLFN 5DFKHO6ZHHWDOO 0DGGLH:HDYHU +DQQDK%XWWHU 3+27268%0,77(' 1RWKLQJLVTXLWHDVVZHHWDVKHOSLQJRWKHUVDQGWKLVJURXSRI WKLUGDQGILIWKJUDGHUVIURP0RQWRXU6FKRRO'LVWULFWDUHGRLQJ MXVWWKDW $FFRUGLQJWRRQHRIWKHJLUOV¶PRWKHUV'RQQD:KLWHWKH JLUOVVWDUWHGPHHWLQJEDFNLQ6HSWHPEHUDWKHUKRPH ³,WVWDUWHGRXWWKDWWKH\ZDQWHGWRVKDUHWKHORYHRIFKRFR ODWHPHHWQHZIULHQGVDQGWDONDERXWKRZWKH\FRXOGKHOSRXW LQWKHFRPPXQLW\´'RQQDH[SODLQV 6REHJDQWKH³&KRFRODWH&OXE´ 6RRQWKHJLUOVZHUHEUDLQVWRUPLQJ 7KHLGHDFDPHXSWRXVHWKHOHWWHUVLQWKHZRUG³FKRFRODWH´ WRGHWHUPLQHZKDWHDFKPRQWK¶VIRFXVZRXOGEHDQGZKDWWKH\ ZRXOGGRHDFKPRQWK 'RQQDVDLGWKHJLUOVHYHQFDPHXSZLWKWKHLURZQPLVVLRQ VWDWHPHQW ³7KH\KDYHFUHDWHGDFORVHJURXSRIIULHQGVWKDWKDYH OHDUQHGWRYDOXHWKHLPSDFWRIKRZWKH\FDQVHUYHDQGYROXQ WHHUWKHLUWLPHDQGWDOHQWVZKLOHVWLOOKDYLQJDORWRIIXQ´VKH DGGHG 'RQQDKDVWDNHQVSHFLDOSDLQVWRGRFXPHQWWKHJLUOV¶ DFWLYLWLHVWKURXJKRXWWKH\HDUWKURXJKSKRWRVDQGYLGHRVD PHPRU\WKDWLVVXUHWRVZHHWHQWKHLUORYHIRUFRPPXQLW\ $%29(7KH&KRFRODWH&OXEKRVWHGDIXQGUDLVHU HYHQWDWWKH5RELQVRQ&KLFNILO$WRUDLVHIXQGVIRU WKH.HQQHG\9ROXQWHHU),UH'HSDUWPHQW &KRFRODWH &OXE 6HSWHPEHU´&µLVIRU&211(&7,1*&+2&2/$7( 2XUILUVWPHHWLQJ:HHQMR\HGD\XPP\´FKRFRODWHIRXQWDLQSDUW\µDQG EUDLQVWRUPHGZD\VZHFDQVHUYHWKHFRPPXQLW\ZLWKRXU´FKRFRODW\DFWVRI NLQGQHVVµ:HOHDUQHGZKDWFKRFRODWHLVPDGHIURPDQGPDGHFKRFRODWH WUHDWVIRUDIDPLO\PHPEHUWRVD\´WKDQNVµRU´,ORYH\RXµ 2FWREHU´+µLVIRU+$//2:((1)257+(+20(/(66 :HGHFRUDWHGEURZQEDJVDVVSRRN\WUHDWEDJVILOOHGZLWKJRRGLHVVXFKDV FKHHVHFUDFNHUVJUDQRODEDUVDSSOHVDQGFDQG\:HSDVVHGRXWWKHVH WUHDWEDJVDQGQHZVRFNVZHFROOHFWHGWRWKHPHQDWWKH/LJKWRI/LIH KRPHOHVVVKHOWHULQ3LWWVEXUJKDORQJZLWKFKRFRODWHFKLSFRRNLHVDQGPLON 1RYHPEHU´2µLVIRU285752236 7KLVPRQWKZHDVVHPEOHGVKRHER[HVILOOHGZLWKSX]]OHERRNVJXP JUDQRODGULHGIUXLWQRWHSDGV6WHHOHUVJDUEORFDOQHZVSDSHUVDQG QRQSHULVKDEOHLWHPV:HGHOLYHUHGWKHVHWRWKH2SHUDWLRQ6KRHER[IRONVWR VHQGWRRXUWURRSVRYHUVHDVWRWKDQNWKHPIRUWKHLUGXW\WRXVDQGRXU FRXQWU\:HZDWFKHGDYLGHRDERXW2SHUDWLRQ6KRHER[DQGWKHLUPLVVLRQWR KHOSWKHWURRSV 'HFHPEHU´&µLVIRU&+5,670$6&$5'6 7RJHWKHUZHWHVWHGRXUFUDIWLQJVNLOOVDQGPDGH&KULVWPDVFDUGVRIIHULQJ JODGWLGLQJVRIMR\ZLWK+HUVKH\·VNLVVHVDWWDFKHGWRWKHFDUGV6HYHUDORI WKHJLUOVGHOLYHUHGWKHFDUGVDQGVPDOOJLIWVRIKDQGORWLRQVERG\VSUD\ WLVVXHVDQGKDQGVDQLWL]HUVWRDOOUHVLGHQWVRI7KH:LOORZV1XUVLQJ +RPH -DQXDU\ ´2µLVIRU2875($&+727+(1(('< :HOHDUQHGDERXWWKHKRPHOHVVRQWKH1RUWKVLGHIURPRXUJXHVWVSHDNHU0U 5LFNIURP+LV3ODFHZKRFDPHDQGWDONHGDERXWWKHLUPLQLVWU\DQGKRZWKH\SDVV RXWKRWFKRFRODWHDQGVRXSHDFKZHHN:HWDVWHGWKUHHKRWFRFRDVIURPDURXQG WKHZRUOGDQGYRWHGZKLFKZDVRXUIDYRULWH'RQDWLRQVRIKRWFKRFRODWHDQG HLJKWEDJVRIEODQNHWVZHUHJLYHQWR0U5LFNWRSDVVRXWWRWKHKRPHOHVV )HEUXDU\´/µLVIRU/2762)/29( 7KLVPRQWKZHGHFRUDWHGVXJDUFRRNLHVDQGDVVHPEOHGWUHDWEDJVRIFRRNLHV ZLWKOLWWOHQRWHVRIWKDQNVWRDOORIWKHVWDIIDQGWHDFKHUVDW)RUHVW*URYH (OHPHQWDU\6FKRRO7KH\ZDWFKHGDOLWWOHYLGHRDERXWKRZWHDFKHUVVHUYHDQG ZKDWWKH\GR7KHQH[WGD\WKHJLUOVSURXGO\GHOLYHUHGWKHFRRNLHEDJVWRWKH WHDFKHUVZKDWDVXUSULVH 0DUFK´$µLVIRU$&7,21,17+(&20081,7< :HWRRNDFWLRQWKLVPRQWKIRUWKHILUHPHQWKDWWDNHDFWLRQWRNHHSXVVDIH:H KHOGD´6SLULW1LJKWµDVDIXQGUDLVLQJHYHQWDWWKH5RELQVRQ&KLFNILO$DQG UDLVHGDVDGRQDWLRQWRWKH.HQQHG\7RZQVKLS9ROXQWHHU)LUH'HSDUWPHQW $SULO´7µLVIRU7(55,),&72:(/675($76 :HZLOOFROOHFWROGWRZHOVRUEODQNHWVIRUEHGGLQJIRUKRPHOHVVSHWVDQGZLOO GHOLYHUWKHPWRDQDQLPDOVKHOWHUDORQJZLWKSHWWUHDWV 0D\´(µLVIRU(;&,7(0(17 :HDUHSODQQLQJDWULSWR6DUULV·&KRFRODWHDQG2OG)DVKLRQHG,FH&UHDP3DUORXU LQ&DQRQVEXUJIRUDVXQGDHVSOXUJHWRFHOHEUDWHWKHILUVW\HDURIWKH&KRFRODWH &OXE7KHJLUOVKDYHKDGDIDQWDVWLF\HDU«PDNLQJIULHQGVHQMR\LQJFKRFRODWH DQGPRVWLPSRUWDQWO\VHUYLQJRWKHUV 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP &HOHEUDWLQJ6ODYLF+HULWDJH WKURXJK'DQFH 7 KHUH¶VDORWWREHVDLGDERXWJUHDWPHQDQG-DFN3RORNDZDV DJUHDWPDQ'HVFULEHGE\WKRVHZKRNQHZKLPDVSDVVLRQDWH GULYHQFRPPLWWHGDQGDFRPPXQLW\OHDGHU-DFNLVSHUKDSV EHVWNQRZQIRUKLVZRUNZLWKWKH6ODYMDQH)RON(QVHPEOHD GDQFHWURXSHWKDWUHSUHVHQWV6ODYLFKHULWDJHVWKURXJKD YDULHW\RIHWKQLFVRQJVGDQFHVDQGPXVLFIURP(DVWHUQ(XURSH ³7KHUH¶VVRPXFKWRVD\DERXWP\GDG´UHFDOOV-DFN¶VVRQ'HDQ 3RORNDRI5RELQVRQ³+LVZKROHZRUOGUHYROYHGDURXQGWKH5XV\Q FXOWXUHDQGVKDULQJLWVPDQ\WUDGLWLRQV´ -DFNSDVVHGDZD\ODVWVSULQJEXWKLVIHUYRUIRUKLV&DUSDWKR5XV\Q KHULWDJHOLYHVRQWKURXJK'HDQZKRWRRNRYHUGLUHFWLRQRIWKH6ODYMDQH )RON(QVHPEOHODVWVSULQJDQGQRZVHUYHVDVLWVSURJUDPGLUHFWRUDQG FKRUHRJUDSKHU 'HDQ¶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³:LWKRXWKLVOHDGHUVKLSXQWLOKLVXQWLPHO\GHDWKODVW0DUFK6ODYMDQH ZRXOGQRWH[LVW´H[SODLQV'HDQ³+HZDQWHGWRXSKROGDQGFHOHEUDWH WKHRULJLQRIWKH&DUSDWKR5XV\QSHRSOHDQGSURPRWHDNQRZOHGJHRI $OOHJKHQ\:HVW0DJD]LQH0D\ WKHLUURRWVLQ3LWWVEXUJKIURPJHQHUDWLRQWRJHQHUDWLRQ´ 6LQFHHVWDEOLVKLQJWKH6ODYMDQH)RON(QVHPEOHLQ-DFNGLGMXVW WKDWGHYRWLQJKLVOLIHWRWHDFKLQJ&DUSDWKR5XV\QGDQFLQJWR WKRXVDQGVRIORFDOFKLOGUHQLQFOXGLQJKLVRZQFKLOGUHQDQG JUDQGFKLOGUHQPXFKOLNHKLVSDUHQWVDQGJUDQGSDUHQWVGLGZLWKKLP ³<RXFRXOGVD\WKDWP\IDWKHUZDVLQYROYHGLQ6ODYMDQHOLWHUDOO\ IURPWKHFUDGOHWRWKHJUDYH´VD\V'HDQZKRFUHGLWVKLVIDWKHUIRU LQVWLOOLQJDQDSSUHFLDWLRQIRUKLVXQLTXH5XV\QKHULWDJH -XVWDVKLVIDWKHUGLG'HDQFRQWLQXHVWRSDVVGRZQ-DFN¶V HQWKXVLDVPIRUWKH&DUSDWKR5XV\QVWRKLVRZQFKLOGUHQ'HDQ¶V \HDUROGVRQ1LFKRODVDQG\HDUROGGDXJKWHU0LFND\ODMRLQHGWKH HQVHPEOHZKHQWKH\ZHUHMXVWVL[\HDUVROG)RUWKH3RORNDIDPLO\ 6ODYMDQHLVWUXO\DIDPLO\DIIDLU8QGHUWKHGLUHFWLRQRIWKHLUIDWKHU DQGWKHJURXS¶VLQVWUXFWRUVZKRLQFOXGH'HDQ¶VFRXVLQVQLHFHVLVWHU DQGEURWKHULQODZ1LFKRODVDQG0LFND\ODSHUIRUPDORQJVLGHWKH PRUHWKDQJLIWHG\RXQJSHUIRUPHUV %DVHGRXWRIWKH+RO\*KRVW%\]DQWLQH&DWKROLF&KXUFKLQ 0F.HHV5RFNVWKH6ODYMDQH)RON(QVHPEOHSHUIRUPHUVUDQJLQJLQ DJHIURPVL[WR\HDUVROGFRPPLWDPLQLPXPRIWKUHHKRXUVHDFK ZHHNWRPDVWHULQJWKHDXWKHQWLFLW\RIWKHGDQFHV¶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¶VZKRVH6ODYMDQH VWRU\EHJDQZKHQVKHZDVVHYHQ\HDUVROG ³,W¶VUHDOO\IXQWRGDQFHZLWKRWKHUVDQGEH ZLWK\RXUIULHQGV´VD\V.DWLHZKRVHFRXVLQ 0LFKDHO¶VSHUIRUPDQFHDWD6ODYMDQHFRQFHUW WKUHH\HDUVDJRSLTXHGKHULQWHUHVWLQWKH JURXS .DW\+DUELVWDVHQLRUDW0RRQ$UHD+LJK 6FKRRODJUHHV ³:H¶UHDOOYHU\FORVHOLNHRQHELJIDPLO\´ .DW\QRZ\HDUVROGMRLQHGWKHHQVHPEOH ZKHQVKHZDVLQWKHILUVWJUDGHIROORZLQJLQ WKHIRRWVWHSVRIKHUROGHUVLEOLQJV/LNHPDQ\ RIWKHSHUIRUPHUVLQYROYHGLQ6ODYMDQHWKH +DUELVWIDPLO\LVRI&DUSDWKR5XV\QKHULWDJH DQGKDVFRQWLQXHGWRFXOWLYDWHWKHLUFKLOGUHQ¶V LQWHUHVWLQWKHLUKHULWDJHWKURXJKWKHPXVLF DQGGDQFHUHSUHVHQWHGE\6ODYMDQH 7KHHQVHPEOHLVGLYLGHGLQWRMXQLRUDQG VHQLRUOHYHOVZKLFKDUHJURXSHGDFFRUGLQJWR DJHDQGVNLOOOHYHO7KHMXQLRUOHYHOLV FRPSRVHGRIEHJLQQHUVWKURXJKPLGGOHVFKRRO DJHGVWXGHQWVZKRHYHQWXDOO\PRYHWRWKH VHQLRUOHYHOZLWKLWVPRUHGLIILFXOWVRQJVDQG GDQFHV 'UHVVHGLQDYLEUDQWSUHVHQWDWLRQRI EUHDWKWDNLQJ(XURSHDQFRVWXPHV6ODYMDQH¶V PHPEHUVSHUIRUPDXWKHQWLF(XURSHDQGDQFHV VHWWRWUDGLWLRQDOVRQJVDQGPXVLF$OWKRXJK WKHHQVHPEOHIRFXVHVSULPDULO\RQFHOHEUDWLQJ WKHFXOWXUHRIWKH&DUSDWKR5XV\QV'HDQ ZHOFRPHVFKLOGUHQRIDOOHWKQLFEDFNJURXQGV WRWDNHSDUWLQ6ODYMDQHSURYLGHGWKH\ SDUWLFLSDWHWKURXJKDOODVSHFWVRIVRQJGDQFH DQGPXVLF 7KHPDMRULW\RI6ODYMDQH¶VSHUIRUPHUV MRLQHGWKHHQVHPEOHDWDQHDUO\DJH²VRPH OLNH6FRWW6DEHURI0RRQDV\RXQJDVIRXU \HDUVROG ³,ZDVERUQZLWKDPXVFOHGHIHFWWKDW FDXVHGPHWREHSLJHRQWRHGDQGP\GRFWRU VXJJHVWHG,JHWLQYROYHGLQVRPHWKLQJWR VWUHQJWKHQWKHPXVFOHVLQP\OHJV´H[SODLQV \HDUROG6FRWW %HLQJRI&DUSDWKR5XV\QKHULWDJH6FRWW JUHZXSKHDULQJVWRULHVDERXWWKH5XV\QV IURPKLVJUDQGIDWKHUDQGGHYHORSHGDQLQWHUHVW LQWKHLUWUDGLWLRQV6ODYMDQHSURYLGHG6FRWW ZLWKDQRXWOHWWRQRWRQO\VWUHQJWKHQKLPVHOI SK\VLFDOO\EXWFXOWXUDOO\DVZHOO ³,W¶VUHDOO\FRROWRH[SHULHQFHWKHGDQFHVRI RWKHUFXOWXUHVDQGEHDEOHWRVLQJLQDGLIIHUHQW ODQJXDJH´ODXJKV6FRWWZKRDGGVWKDWKH HQMR\VWKHOLJKWKHDUWHGQHVVRIWKH5XV\Q VRQJVDQGGDQFHVEHVW³,W¶VIXQQ\WRILQG RXWZKDW\RX¶UHDFWXDOO\VLQJLQJDERXW DQG,OLNHPDNLQJWKHFURZGODXJK´ 7KHMR\RISHUIRUPLQJRQVWDJHGRHV QRWFRPHZLWKRXWDOLWWOHELWRIVWUHVVEXW OLNHPDQ\RIWKHPHPEHUVRI6ODYMDQH 6FRWWDWWULEXWHVKDYLQJSHUIRUPHGLQIURQW RIWKRXVDQGVRIVSHFWDWRUVWKURXJKRXW WKHWULVWDWHDUHDDQG3LWWVEXUJK¶V31& 3DUNWRKLVDELOLW\WRVWD\FDOPERWKRQ DQGRIIVWDJH ³7KDW¶VRQHWKLQJWKDWDORWRIWKH FKLOGUHQWDNHDZD\IURP6ODYMDQH² SUHVHQWDWLRQ´QRWHV6FRWW¶VPRWKHU &LQG\³7KH\¶UHQRWDIUDLGWRJHWXSLQ IURQWRIDJURXSRISHRSOHDQGJLYHD VSHHFKIRUDSXEOLFVSHDNLQJFODVVRUWDON WRSHRSOHZKRFRPHXSWRPHHWWKHP DIWHUDSHUIRUPDQFH´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¶VHWKQLFGDQFH EDQG2UNHVWUD=DEDYDDQGKRPHFRPLQJ DSSHDUDQFHVE\6ODYMDQH¶VDOXPQL7KH FRQFHUWZLOOEHJLQDWSPDWWKH 'DYLG(:LOOLDPV0LGGOH6FKRROLQ .HQQHG\7RZQVKLSZLWKWKHUHFHSWLRQ WRIROORZDW+RO\*KRVW6RFLDO+DOORQ 6XSHULRU$YHQXHRQ3LWWVEXUJK¶V1RUWK 6LGH7LFNHWVDUHIRUDGXOWVIRU VWXGHQWVDQGIUHHWRFKLOGUHQXQGHUDJH 7KH\PD\EHSXUFKDVHGE\FDOOLQJ 23326,7(3$*(7KH6ODYMDQH'DQFH(QVHPEOH3+27268%0,77(' 7+,63$*(7237KHODWH-DFN3RORNDOHIWZLWKKLVVRQ'HDQZKRFDUULHVRQKLVIDWKHU¶V 6ODYLFWUDGLWLRQV3+27268%0,77(' 7+,63$*(&(17(5$1'%27720<RXQJPHPEHUVRIWKHGDQFHHQVHPEOHSUDFWLFHIRUWKHLU XSFRPLQJSHUIRUPDQFHV3+2726%<-(66,&$:$6,. 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP 35(6(17('%< '56+$11217+,(52))DQG '5/($+*$//8&&, 7KH+HDOWK\:D\ WR8VH<RXU%RG\ <RX¶YHKHDUGWKHVRQJ³7KHKLSERQH¶VFRQQHFWHGWRWKHEDFNERQH´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³VZD\EDFN´7KLVFDQKXUWWKHORZHU VSLQH8VLQJ\RXUDEVZLOOGHFUHDVHWKLVDQGFUHDWHPRUHVWDELOLW\9DU\ \RXUKHHOKHLJKWV,I\RX¶UHDOZD\VZHDULQJWKHVDPHKHLJKW\RXUERG\ ZLOODFFRPPRGDWHDQGVRPHPXVFOHVPD\SHUPDQHQWO\VKRUWHQRUJHW GLIIHUHQW³PXVFOHPHPRU\´DERXWKRZWKH\VKRXOGZRUN&KDQJLQJNHHSV WKLVIURPKDSSHQLQJ 6WDQGLQJ$URXQG5ROO\RXUVKRXOGHUVEDFNDQGGRZQSXOO\RXUDEV LQDQGXSDJDLQDQGNHHS\RXUKHDGGLUHFWO\RYHU\RXUVKRXOGHUV 7KLVLVLGHDOSRVWXUHDQGLVKRZWKHERG\VWDQGVEHVW)HHODZNZDUG" 0RVWRIXVGREHFDXVHRXUSRVWXUHLVDEQRUPDO7UDLQWKLVWREH\RXU QHZ³QRUPDO´VWDQG,I\RXIHHOIDWLJXHGSXW\RXUKDQGVLQ\RXUEDFN SRFNHWV7KLVSXOOV\RXUVKRXOGHUVEDFN'RQ¶WSXWWKHPLQWKHIURQW SRFNHWV7KLVZLOOPDNH\RXVORXFKIRUZDUG $QGWKHEHVWWKLQJ\RXFDQGRWRPDNHVXUH\RXUVSLQHZRUNV SURSHUO\«7DNHFDUHRILWEHIRUHLWZHDUVRXW 7KLVLQIRUPDWLRQ LV SU RYLGHGFRXU WHV\RI &KRLFH & KLURSUDFWLF :HOOQHVV &HQWHU3&' U/HDK *DOOXFFL DQG ' U6KDQQRQ 7KLHU RII7R U HDFKWKH 0RRQ7RZQVKLSRIILFH FDOO RU YLVLW ZZZFKRLFHFKLURSUDFWLFQHW Learning Curves is provided as a service to advertisers of Allegheny West Magazine to share educational and/or informational knowledge with the readership. To inquire, call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±,WLVQRWXQFRPPRQIRUSHRSOHWREHZHDN RUKDYHPXVFOHLPEDODQFHVLQWKLVDUHD%HVXUHWRLQFOXGHH[HUFLVHV WKDWWDUJHWDOORIWKHDEGRPLQDOORZEDFNDQGJOXWHXVPXVFOHV :DUPXS±7KHJROIVZLQJLVDYHU\H[SORVLYHPRYHPHQWWKDWFDQ SXWH[WUDVWUHVVRQMRLQWVDQGPXVFOHVLIWKH\DUHQRWUHDG\IRUDFWLRQ 'RVRPHG\QDPLFVWUHWFKLQJDQGWDNHVRPHHDV\VZLQJVWRKHOS ORRVHQXSEHIRUH\RXSUDFWLFHRUSOD\ 7DNHOHVVRQV6HH\RXUORFDOJROIWHDFKLQJSURIHVVLRQDOWROHDUQ SURSHUWHFKQLTXHSRRUSRVWXUHDWDGGUHVVDQGIDXOW\VZLQJ PHFKDQLFVFDQEHNLOOHUIRU\RXUEDFN 6WUHWFK±+DYLQJHQRXJKPXVFOHIOH[LELOLW\DQGMRLQWPRELOLW\WR H[HFXWHWKHJROIVZLQJSURSHUO\LVHVVHQWLDO-XVWPLQXWHVRIVWDWLF VWUHWFKLQJHYHU\GD\FDQPDNHDZRUOGRIGLIIHUHQFH7KRVHZKR VXIIHUIURPFKURQLFRULQFDSDFLWDWLQJORZEDFNSDLQVKRXOGDOVRVHHN KHOSIURPDPHGLFDOSURIHVVLRQDODVLJQRULQJWKHSUREOHPFDQUHVXOWLQ IXUWKHULQMXU\ DPSP6XPPHU&DPS´&URVV7UDLQHUVµDJHVLQFOXGHV ZRUVKLSDUWUHFUHDWLRQ%LEOHWLPH%UHDNIDVWDQGOXQFKVHUYHGGDLO\ZHHNO\ ILHOGWULSV5HJLVWUDWLRQEHJLQV0D\ DP1RRQ<0&$'D\&DPSSHUZHHNSHUFKLOG-XO\ DPSP´*RW6SLULW"µ)RUNLQGHUJDUWHQWKURXJKJUDGH )LUVW$VVHPEO\RI*RG-XO\´-RXUQH\WRWKH6RQµ DJHV9HUWLFDO.LGV:HGQHVGD\QLJKWVSPDJHVDWWKHFKXUFK -XQLRU+LJK*URXS:HGQHVGD\QLJKWVSPDWWKH\RXWKFHQWHU)LIWK $YHQXH&RUDRSROLV6HQLRU+LJK*URXS7KXUVGD\QLJKWVSPDWWKH\RXWK FHQWHU +RO\7ULQLW\3DULVKH[W-XQH-XO\ ´3DQGDPDPLDµDP1RRQDJHVWKURXJKJUDGH ,QJUDP8QLWHG3UHVE\WHULDQ&KXUFK-XQH-XO\ SP´+RPHWRZQ1D]DUHWKµDJHVFKLOGGLVFRXQWLI SDUHQWRUWHHQYROXQWHHUVWZRGD\VRUPRUH 3UHVE\WHULDQ&KXUFKRI&RUDRSROLV$QQXDO6WUDZEHUU\)HVWLYDO-XQH SP 6KDURQ&RPPXQLW\3UHVE\WHULDQ&KXUFK-XO\ SP´3DQGDPDQLD:KHUH*RGLV:LOG$ERXW<RXµ$JHVWKURXJK JUDGH 8QLRQ3UHVE\WHULDQ&KXUFK-XQHSP ´3DQGDPDQLDµ$JHWKURXJKFRPSOHWHGJUDGHILYH 7KLVLQIRUPDWLRQ LV SU RYLGHGFRXU WHV\RI *HRU JH+HVV'37 'RFWRU RI 3K\VLFDO7KHUDS\ DQG 73, & HUWLILHG *ROI )LWQHVV ,QVWUXFWRU&RQWDFW KLP DW RU YLVLW Z ZZKHVVSWFRP Learning Curves is provided as a service to advertisers of Allegheny West Magazine to share educational and/or informational knowledge with the readership. To inquire, call (724) 695-3968. 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP $OOHJKHQ\:HVW0DJD]LQH0D\ &RPLQJ8S 0D\ ,QVSLULQJ/HDGHUVDPSP 5DGLVVRQ*UHHQWUHH 0D\ %XVLQHVV&RQQHFWLRQV0L[HU SP %XFDGH%HSSR5RELQVRQ 0D\ 0LOHVWRQHV5LEERQ&XWWLQJV %L]%ODVW DP SP )RXU3RLQWV6KHUDWRQ 7R5HDFK8V %HDYHU*UDGH5G 0RRQ 7ZS 3$ 3KRQH )D[ 6DWHOOLWH 2IILFH 2QH9HWHUDQ·V :D\&DUQHJLH 3$ 3KRQH [ ZZZSDDFFFRP(0DLOLQIR#SDDFFFRP 6HUYLQJ7KHVH$UHDV 0(0%(5 0,/(6721(6 /()7725,*+7$PEDVVDGRUVKHOSZLWKWKHULEERQFXWWLQJDW WKHQHZUHVWDXUDQW&LDR$Q,WDOLDQ&DIp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¶V7LUH6HUYLFH &HQWHU %(51$'(77(38==82/(&KDLUSHUVRQ &$52/,))7VW9LFH&KDLU -2+1'$/(<QG9LFH&KDLU '($1+$67,1*69LFH&KDLU 9,1&(6(71$59LFH&KDLU 521$/' 3$6,& 7UHDVXUHU 6($1+(1'(5621,PPHG3DVW&KDLUPDQ &KDPEHU6WDII 6DOO\ +DDV ± 3UHVLGHQW 0LFKHOOH .UHXW]HU ± 93 %XVLQHVV 'HYHORSPHQW 0DUNHWLQJ 'RXJ .HHWHU ± 0HPEHUVKLS 'LUHFWRU 7DPP\ /\QQ ± )LQDQFLQJ $OPDQGD &RXPEDVVD ± 0HPEHUVKLS 6HUYLFHV 0D\ZZZDOOHJKHQ\ZHVWPDJD]LQHFRP DU RXQG \\RXU RXU WR ZQ DURXQG WRZQ +RO\7ULQLW\6FKRROLVRQFHDJDLQKROGLQJLWVFDUUDIIOHWREHQHILWWKH VFKRRO7KHWLFNHWVDUHDYDLODEOHE\FRQWDFWLQJ-DQ/D%DUJH 7KHZLQQHURIWKHFDUZLOOEHDQQRXQFHGGXULQJWKLV\HDU·VDQQXDO VXPPHUIHVWLYDOZKLFKZLOOEHKHOG$XJXVW %UHQW%URZQD0RQWRXU+LJK6FKRRODOXPQXVDQGIRUPHUUHVLGHQWRI 5RELQVRQ7RZQVKLSKDVDQQRXQFHGSODQVWRFRQYHUWWKHIRUPHUEXLOGLQJ KRXVLQJ5RRPIXO([SUHVVLQ1RUWK)D\HWWH7RZQVKLSLQWRD VTXDUHIRRWHQWHUWDLQPHQWFHQWHUWREHFDOOHG/DWLWXGHQDPHG EHFDXVH1RUWK)D\HWWH·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´GULOOµ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³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²)ULGD\DSSUR[LPDWHO\DPSP *0RRQ)O\HU 'RHVQRWVHUYH2DNODQG 2SHUDWHV0RQGD\)ULGD\UXVKKRXUVRQO\DSSUR[LPDWHO\ DPDQGSP :HVW3DUN :HHNGD\WULSWLPHVDGMXVWHG 6HUYHV,.($DQG7KH0DOODW5RELQVRQ 2SHUDWHVGD\VSHUZHHNDSSUR[LPDWHO\DP SP 7KHIROORZLQJURXWHVKDYHEHHQHOLPLQDWHG *²:HVW%XVZD\²5RELQVRQ &DPSEHOOV5XQ 0RRQ )RUPRUHLQIRUPDWLRQFDOO3RUW$XWKRULW\&XVWRPHU 6HUYLFHDW 5RELQVRQ3OD]D7ZR5W3DUN0DQRU'U 6XLWH3LWWVEXUJK3$ )D[ZZZDFWDSJKRUJ 6HQGDELWRI³KRPH´WRVRPHRQH \RXNQRZ :H'R*LIW&HUWLILFDWHV 6HQGD*LIW6XEVFULSWLRQRI ³$OOHJKHQ\:HVW0DJD]LQH´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·VMRLQWDQGVHYHUDOOLDELOLW\ODZE\HQVXULQJWKDWGHIHQGDQWV 6RXWK0DLQ6WUHHW 3LWWVEXUJK3$ IRXQGQHJOLJHQWRUOLDEOHIRUDQLQMXU\DUHUHVSRQVLEOHIRURQO\WKHLUVKDUHRIWKHGDPDJHV 5HS0DUN0XVWLRKDVGHOLYHUHGDOHWWHUFRQWDLQLQJQHDUO\LGHDVIURPHGXFDWLRQDOSURIHVVLRQDOVOLYLQJRU ZZZSDKRXVHFRP'HDV\ ZRUNLQJLQWKHWK/HJLVODWLYH'LVWULFWUHJDUGLQJKRZ3HQQV\OYDQLDVFKRROGLVWULFWVFDQFXWFRVWVRUZRUNPRUH 67$7( 5(3 HIILFLHQWO\WR*RYHUQRU7RP&RUEHWW%RWK5HS0XVWLR·VOHWWHUDQGLQGLYLGXDOHGXFDWLRQDOSURIHVVLRQDOV·FRPPHQWV 0$5. 0867,2 FDQEHYLHZHGRQOLQHDW5HS0XVWLRFRPBB%XGJHWDVS[ %HDYHU*UDGH5RDG 6WDWH5HS1LFN.RWLNKDVLQWURGXFHGDELOOWRDOORZYRWLQJE\PDLOLQ3HQQV\OYDQLD 8QGHU.RWLN·VOHJLVODWLRQ3HQQV\OYDQLDYRWHUVZRXOGEHDEOHWRFDVWWKHLUYRWHLQDQ\TXDOLI\LQJHOHFWLRQ WKURXJKPDLOLQEDOORW ´5LJKWQRZYRWHUVFDQPDLOLQDEVHQWHHEDOORWVEXWWKDW·VUHVHUYHGIRUDFHUWDLQVHWRIFULWHULDµ.RWLNVDLG ´0\ELOOZRXOGRYHUKDXOWKHHQWLUHYRWLQJE\PDLOV\VWHPE\RSHQLQJXSSRVWDOYRWLQJRSSRUWXQLWLHVWRDOO YRWHUVµ .RWLNDGGHGYRWHUVZRXOGEHDEOHWRUHTXHVWDPDLOLQEDOORWIRUDOOHOHFWLRQVVFKHGXOHGIRUWKDWFDOHQGDU\HDU 'HDGOLQHVIRUUHFHLSWRIDSSOLFDWLRQVZRXOGEHVHYHQGD\VSULRUWRWKHHOHFWLRQIRUZULWWHQDSSOLFDWLRQVDQG SPRQWKHGD\EHIRUHWKHHOHFWLRQIRULQSHUVRQUHTXHVWV2QFHWKHUHTXHVWZRXOGEHPDGHDFRXQW\ERDUG RIHOHFWLRQVZRXOGVHQGWKHYRWHUDEDOORW ´6WHSVZRXOGEHWDNHQWRSURYHWKHYRWHU·VLGHQWLILFDWLRQµVDLG.RWLN´7KH'HSDUWPHQWRI6WDWHZRXOGPDWFK WKHVLJQDWXUHRQWKHPDLOLQEDOORWZLWKWKHYRWHU·VVLJQDWXUHLQWKHVWDWHZLGHYRWHUUHJLVWUDWLRQV\VWHPµ +HDGGHG´0DQ\VWDWHVDFURVVWKHFRXQWU\DOUHDG\DOORZHDUO\YRWLQJSRVWDOYRWLQJRUDFRPELQDWLRQRIWKH WZR3RVWDOYRWLQJVWDQGVWRLQFUHDVHYRWHUWXUQRXWSURYLGHIRUJUHDWHUYRWHFRXQWLQJDFFXUDF\DQGLPSURYH YRWHUVDWLVIDFWLRQµ 6WDWH5HS'DQ'HDV\ZLOOKRVWDVHULHVRIWRZQKDOOPHHWLQJVIRUFRQVWLWXHQWVWKURXJKRXW0D\ 7KHPHHWLQJVZLOOEHKHOGRQ7KXUVGD\0D\&UDIWRQ%RURXJK&RPPXQLW\5RRPDQG:HGQHVGD\0D\$YDORQ %RURXJK%XLOGLQJ 7KHPHHWLQJVZLOOEHKHOGWRGLVFXVVFXUUHQWOHJLVODWLRQVHUYLFHVRIIHUHGWKURXJK5HS'HDV\·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³DVQHHGHG´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´'RJV5XQQLQJDW/DUJHµFDQEHYLHZHGRQWKHWRZQVKLS·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³&HUWLILFDWHRI$SSUHFLDWLRQ´VLJQHGE\&2* 3UHVLGHQW-LP0RURVHWWLDQG([HFXWLYH'LUHFWRU*HRUJH 6FDUERURXJKI RUK LVP DQ\\ HDUVR IR XWVWDQGLQJG HGLFDWHG VHUYLFHWR5RELQVRQ7RZQVKLSDQGKLVJHQHURXVFRPPLWPHQWRI WLPHVXSSRUWDQGLQVSLUDWLRQVHUYLQJDVD&2*'HOHJDWH .HQQHG\7RZQVKLS $%29($WWKHLUUHJXODUPHHWLQJLQ$SULOWKH.HQQHG\%RDUGRI &RPPLVVLRQHUVXQDQLPRXVO\DGRSWHGDUHVROXWLRQLQWURGXFHGE\ &RPPLVVLRQHU$QLWD.XOLNKRQRULQJWKH0RQWRXUER\¶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³/HWWKHGUXPVUROORXW/HWWKHWUXPSHWFDOO :KLOHWKHSHRSOHVKRXWµ6WULNHXSWKHEDQG¶´ 6@C866CD9H:? @>>F?:EJ2?5 3UHSDUHVIRU$QRWKHU3HUIRUPDQFH6HDVRQ 723'RP7ULPDUFKLDQG9LFWRU%HOODUH RIILFHUV WKDW KDYH EHHQ ZLWK WKH EDQG VLQFH LWV LQFHSWLRQ &(17(56U%HWW\:DLJDQGDQG'RP%DWLVWRQH DUH WKH EDQG¶V WZR RFWRJHQDULDQV ZKR DUH YHU\\RXQJ DW KHDUW %27720(ULF6FKQHLGHUDVWXGHQWDW6OLSSHU\ 5RFN8QLYHUVLW\LVWKHEDQG¶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¶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¶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¶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·VIDVWSDFHGOLIHVW\OHVZLWKSUHVVXUHVIURPMREORVVILQDQFLDOEXUGHQVIDPLO\DQGUHODWLRQ VKLSLVVXHVFDQJUHDWO\LQFUHDVHIHHOLQJVRILVRODWLRQDQGORVVRIFRQWURO7KLVORVVRIFRQWURORYHU OLIHSUREOHPVFRQWULEXWHVWRDQ[LHW\WKDWXQHDV\IHHOLQJRIEHLQJRYHUZKHOPHG$Q[LHW\OHIWXQFKHFNHG OHDGVWRGHSUHVVLRQGHVSDLUDQGIHHOLQJVRIKHOSOHVVQHVV ,GHQWLI\LQJZKDW\RXUVWUHVVRUVDUHDQGOHDUQLQJKRZWRFRSHZLWKWKHPLVYLWDOO\LPSRUWDQWWR PDLQWDLQLQJDKHDOWK\SHUVSHFWLYH7KLVLVZK\LWLVLPSRUWDQWWRVHHNSURIHVVLRQDOSV\FKRORJLFDOKHOS HDUO\EHIRUHEHFRPLQJRYHUZKHOPHG $JRRGSV\FKRORJLFDOFKHFNXSLVDVLPSRUWDQWDVDSK\VLFDORQH*RLQJWRDWUDLQHGOLFHQVHG SV\FKRORJLVWIRUFRXQVHOLQJLVHVVHQWLDOWRSUHYHQWIXWXUHSUREOHPVIURPVWUHVV,WVKRXOGEHDSDUW RI\RXUKHDOWK\OLIHVW\OH$OLFHQVHGSV\FKRORJLVWLVHGXFDWHGWRHYDOXDWH\RXUVLWXDWLRQGHYHORSD SHUVRQDOFDUHSODQDQGLPSOHPHQWWKHUDSHXWLFVWUDWHJLHVWRDOOHYLDWH\RXUVRXUFHVRIVWUHVVLQRUGHU WRJHW\RXEDFNLQFRQWURORI\RXUOLIHDJDLQ 7KLV LQIRUPDWLRQ LV SURYLGHGFRXU WHV\RI 3HWHU & =XEULW]N\3K' /LFHQVHG 3V\FKRORJLVW 0RVW LQVXUDQFH SODQV DUHDFFHSWHG )RU PRU HLQIRUPDWLRQ YLVLW KLV :H EVLWH DWZ ZZRQOLQHGU]FRP Learning Curves is provided as a service to advertisers of Allegheny West Magazine to share educational and/or informational knowledge with the readership. To inquire, call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·V$VVQ 'DXJKWHUV RI WKH $PHULFDQ 5HYROXWLRQZZZGDURUJ (ONV%32 )RUHVW*URYH6SRUWVPHQ *LUO 6FRXWV :3$ +LOOWRS 6HQLRUV +ROORZ2DN/DQG7UXVW ,QJUDP*LUOV6RIWEDOO ,QJUDP +LVWRULFDO 6RFLHW\ ,QJUDP:RPHQ·V&LYLF&OXE .HQPDZU6HQLRUV .HQQHG\7ZS)LUHPHQ·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
Similar documents
Montour March 2013 - Allegheny West Magazine
0DUFK0D\-XO\6HSWHPEHUDQG1RYHPEHUVL[LVVXHVD\HDUE\ -HQQHWWH&RPPXQLFDWLRQV*URXS:DOQXW6WUHHW6XLWH ,PSHULDO3$0DLOHGDQGGLVWULEXWHGIUHHWRUHVLGHQWVDQG EXVLQHV...
More informationNovember 2010 - Allegheny West Magazine
LVVXHVD\HDUE\-HQQHWWH&RPPXQLFDWLRQV*URXS:DOQXW6WUHHW6XLWH,PSHULDO3$0DLOHGDQG GLVWULEXWHG IUHH WR UHVLGHQWV DQG EXVLQHVVHV LQ .HQQHG\ ,QJUDP 3HQQVEXU\ 5R...
More informationMay 2009 - Allegheny West Magazine
,PSHULDO3$0DLOHGDQGGLVWULEXWHGIUHH WRUHVLGHQWVDQGEXVLQHVVHVLQ,QJUDP .HQQHG\3HQQVEXU\5RELQVRQ7KRUQEXUJDQG DGMDFHQWDUHDV([WUDFRSLHVDYDLODEOHDWPXQLFLSDO RI...
More informationpublisher - Allegheny West Magazine
$OOHJKHQ\:HVW0DJD]LQH0RQWRXU(GLWLRQLVSXEOLVKHGLQ-DQXDU\0DUFK0D\-XO\6HSWHPEHUDQG1RYHPEHUVL[LVVXHVD\HDUE\-HQQHWWH &RPPXQLFDWLRQV*URXS:DOQXW6WUHHW6XLWH,PSHULD...
More informationMay 2009 - Allegheny West Magazine
DQG1RYHPEHUVL[LVVXHVD\HDUE\-HQQHWWH &RPPXQLFDWLRQV*URXS:DOQXW6WUHHW6XLWH ,PSHULDO3$0DLOHGDQGGLVWULEXWHGIUHH WRUHVLGHQWVDQGEXVLQHVVHVLQ&UHVFHQW 0RRQ...
More informationJuly 2013 - Allegheny West Magazine
0DUFK0D\-XO\6HSWHPEHUDQG1RYHPEHUVL[LVVXHVD\HDUE\ -HQQHWWH&RPPXQLFDWLRQV*URXS:DOQXW6WUHHW6XLWH ,PSHULDO3$0DLOHGDQGGLVWULEXWHGIUHHWRUHVLGHQWVDQG EXVLQHV...
More informationAllegheny West Magazine
$OOHJKHQ\:HVW0DJD]LQH0RRQ(GLWLRQLVSXEOLVKHGLQ-DQXDU\0DUFK0D\-XO\6HSWHPEHUDQG1RYHPEHUVL[LVVXHVD\HDUE\ +XJKH\3XEOLFDWLRQV//&32%R[,PSHULDO3$0DLOHGDQG...
More information