*/'03.

"5*0/
%"4)#0"3%
%&4*(/
5IF
&GGFDUJWF
7JTVBM
$PNNVOJDBUJPO
PG
%BUB

4UFQIFO
'FX
 '
9B7H?<O?D=
J>;
L?I?ED

:Wi^XeWhZi
e\\[h
W
kd_gk[
WdZ
fem[h\kb
iebk#

j_ed
je
Wd
eh]Wd_pWj_ed¼i
d[[Z
\eh
_d\ehcW#
j_ed"
Xkj
j^[o
kikWbbo
\Wbb
\Wh
i^ehj
e\
j^[_h


fej[dj_Wb$
:Wi^XeWhZi
ckij
X[
i[[d
_d
^_ijeh_YWb


Yedj[nj
je
kdZ[hijWdZ
WdZ
Wffh[Y_Wj[
^em
WdZ

m^o
j^[o¼l[
Yec[
WXekj"
m^o
j^[o¼l[
X[Yec[
ie

fefkbWh"
WdZ
m^o¸Z[if_j[
cWdo
fheXb[ci
j^Wj

kdZ[hc_d[
j^[_h
lWbk[
jeZWo¸j^[o
e\\[h
X[d\_ji

mehj^
fkhik_d]$
Je
ZWj["
b_jjb[
i[h_eki
Wjj[d#
j_ed
^Wi
X[[d
]_l[d
je
j^[_h
l_ikWb
Z[i_]d$
J^_i

Xeea
ijh_l[i
je
\_bb
j^_i
]Wf$
>em[l[h"
Yed\ki_ed

WXekdZi"
Z[cWdZ_d]
W
Yb[Wh
Z[\_d_j_ed
e\
ZWi^#
XeWhZi
X[\eh[
m[
YWd
[nfbeh[
j^[
l_ikWb
Z[i_]d

fh_dY_fb[i
WdZ
fhWYj_Y[i
j^Wj
ckij
X[
Wffb_[Z
_\

j^[o
Wh[
je
b_l[
kf
je
j^[_h
kd_gk[
fhec_i[$
FheXb[ci
m_j^
ZWi^XeWhZi
jeZWo

:Wi^XeWhZi
_d
^_ijeh_YWb
Yedj[nj

9khh[dj
Yed\ki_ed
WXekj
m^Wj
ZWi^XeWhZi
Wh[

7
meha_d]
Z[Ãd_j_ed
e\
¹ZWi^XeWhZº

7
j_c[bo
effehjkd_jo
\eh
ZWi^XeWhZi

7Xel[
Wbb
[bi["
j^_i
_i
W
Xeea
WXekj
Yecckd_YWj_ed$
?j
\eYki[i
[nYbki_l[bo

ed
W
fWhj_YkbWh
c[Z_kc
e\
Yecckd_YWj_ed
YWbb[Z
W
ZWi^XeWhZ$
?d
j^[

\Wij#fWY[Z
mehbZ
e\
_d\ehcWj_ed
j[Y^debe]o
?J"
j[hci
Wh[
YedijWdjbo

Y^Wd]_d]$
@kij
m^[d
oek
j^_da
oek¼l[
mhWff[Z
oekh
c_dZ
WhekdZ
j^[
bWj#
[ij
_ddelWj_ed"
j^[
j[Y^debe]o
bWdZiYWf[
i^_\ji
X[d[Wj^
oek
WdZ
oek
ckij

ijhk]]b[
je
h[cW_d
kfh_]^j$
J^_i
_i
Y[hjW_dbo
jhk[
e\
ZWi^XeWhZi$

B_l[
oekh
b_\[
ed
j^[
ikh\WY[
e\
j^[i[
i^_\j_d]
iWdZi"
WdZ
oek¼bb
d[l[h
][j

oekh
XWbWdY[$
Beea
W
b_jjb[
Z[[f[h"
^em[l[h"
WdZ
oek¼bb
Z_iYel[h
ceh[

ijWXb[
]hekdZ0
W
X[ZheYa
e\
eX`[Yj_l[i"
fh_dY_fb[i"
WdZ
fhWYj_Y[i
\eh
_d\eh#
cWj_ed
^WdZb_d]
j^Wj
h[cW_di
h[bWj_l[bo
YedijWdj$
:Wi^XeWhZi
Wh[
kd_gk[

_d
i[l[hWb
[nY_j_d]
WdZ
ki[\kb
mWoi"
Xkj
Z[if_j[
j^[
^of[
ikhhekdZ_d]
j^[c"

m^Wj
j^[o
Wh[
WdZ
^em
j^[o
meha
Wi
W
c[Wdi
e\
Z[b_l[h_d]
_d\ehcWj_ed
Wh[

Ybei[bo
h[bWj[Z
je
iec[
bed]#\Wc_b_Wh
YedY[fji
WdZ
j[Y^debe]_[i$
?j¼i
j_c[
je

Ykj
j^hek]^
j^[
^of[
WdZ
b[Whd
j^[
fhWYj_YWb
ia_bbi
j^Wj
YWd
^[bf
oek
jhWdi#
\ehc
ZWi^XeWhZi
\hec
o[j
Wdej^[h
\WZ
h_Z_d]
j^[
mWl[i
e\
j^[
j[Y^debe]o

Xkpp
_dje
j^[
[\\[Yj_l[
c[Wdi
je
[db_]^j[d
j^Wj
j^[o
h[Wbbo
YWd
X[$

JeZWo"
[l[hoXeZo
mWdji
W
ZWi^XeWhZ$
B_a[
cWdo
d[mYec[hi
je
j^[
j[Y^#
debe]o
iY[d["
ZWi^XeWhZi
Wh[
i[no$
Ie\jmWh[
l[dZehi
meha
^WhZ
je
cWa[

j^[_h
ZWi^XeWhZi
i^_cco
m_j^
i[n
Wff[Wb$
J^[o
jWkdj"
¹Oek
Zed¼j
mWdj

je
X[
j^[
edbo
YecfWdo
_d
oekh
d[_]^Xeh^eeZ
m_j^ekj
ed["
Ze
oek5º

* ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^[o
mWhd"
¹Oek
YWd
de
bed][h
b_l[
m_j^ekj
ed[$º
J^[o
m^_if[h
im[[jbo"

¹Ij_bb
^Wl[d¼j
WY^_[l[Z
j^[
[nf[Yj[Z
h[jkhd
ed
_dl[ijc[dj
HE?
\hec
oekh

[nf[di_l[
ZWjW
mWh[^eki[5
@kij
ij_Ya
W
ZWi^XeWhZ
_d
\hedj
e\
_j
WdZ
mWjY^

j^[
ced[o
fekh
_d$º
8[
ij_bb
co
^[Whj$

J^ei[
]Wk][i"
c[j[hi"
WdZ
jhW\ÃY
b_]^ji
Wh[
ie
ZWcd
ÄWi^o
Oek
YWd
_cW]#
_d[
j^Wj
oek¼h[
i_jj_d]
X[^_dZ
j^[
m^[[b
e\
W
=[hcWd#[d]_d[[h[Z
ifehji
YWh"

\[[b_d]
j^[
m_dZ
m^_f
j^hek]^
oekh
^W_h
Wi
oek
j[Wh
WhekdZ
Ykhl[i
ed
j^[

WkjeXW^d
Wj
^_]^
if[[Zi"
Wbb
m_j^ekj
b[Wl_d]
oekh
Z[ia$

;l[hoed[
mWdji
W
ZWi^XeWhZ
jeZWo"
Xkj
e\j[d
\eh
j^[
mhed]
h[Wiedi$

H[ij
Wiikh[Z"
^em[l[h"
j^Wj
iec[m^[h[
X[oedZ
j^[
^of[
WdZ
i_ppb[
b_l[i
W

kd_gk[
WdZ
[\\[Yj_l[
iebkj_ed
je
\Wc_b_Wh
Xki_d[ii
fheXb[ci
j^Wj
Wh[
heej[Z

_d
W
l[ho
h[Wb
d[[Z
\eh
_d\ehcWj_ed$
J^Wj¼i
j^[
ZWi^XeWhZ
j^Wj
Z[i[hl[i
je

b_l[
ed
oekh
iYh[[d$

7bb
J^Wj
=b_jj[hi
?i
Dej
=ebZ
:Wi^XeWhZi
YWd
fhel_Z[
W
kd_gk[
WdZ
fem[h\kb
c[Wdi
je
fh[i[dj
_d\eh#
cWj_ed"
Xkj
j^[o
hWh[bo
b_l[
kf
je
j^[_h
fej[dj_Wb$
Ceij
ZWi^XeWhZi
\W_b

je
Yecckd_YWj[
[\ÃY_[djbo
WdZ
[\\[Yj_l[bo"
dej
X[YWki[
e\
_dWZ[gkWj[

j[Y^debe]o
Wj
b[Wij
dej
fh_cWh_bo"
Xkj
X[YWki[
e\
feehbo
Z[i_]d[Z
_cfb[#
c[djWj_edi$
De
cWjj[h
^em
]h[Wj
j^[
j[Y^debe]o"
W
ZWi^XeWhZ¼i
ikYY[ii
Wi

W
c[Z_kc
e\
Yecckd_YWj_ed
_i
W
fheZkYj
e\
Z[i_]d"
W
h[ikbj
e\
W
Z_ifbWo

j^Wj
if[Wai
Yb[Whbo
WdZ
_cc[Z_Wj[bo$
:Wi^XeWhZi
YWd
jWf
_dje
j^[
jh[c[d#
Zeki
fem[h
e\
l_ikWb
f[hY[fj_ed
je
Yecckd_YWj["
Xkj
edbo
_\
j^ei[
m^e

_cfb[c[dj
j^[c
kdZ[hijWdZ
l_ikWb
f[hY[fj_ed
WdZ
Wffbo
j^Wj
kdZ[hijWdZ#
_d]
j^hek]^
Z[i_]d
fh_dY_fb[i
WdZ
fhWYj_Y[i
j^Wj
Wh[
Wb_]d[Z
m_j^
j^[
mWo

f[efb[
i[[
WdZ
j^_da$
Ie\jmWh[
med¼j
Ze
j^_i
\eh
oek$
?j¼i
kf
je
oek$

Kd\ehjkdWj[bo"
ceij
l[dZehi
j^Wj
fhel_Z[
ZWi^XeWhZ
ie\jmWh[
^Wl[
Zed[

b_jjb[
je
[dYekhW][
j^[
[\\[Yj_l[
ki[
e\
j^_i
c[Z_kc$
J^[o
\eYki
j^[_h

cWha[j_d]
[\\ehji
ed
ÄWi^
WdZ
ZWppb[
j^Wj
ikXl[hj
j^[
]eWbi
e\
Yb[Wh
Yec#
ckd_YWj_ed$
J^[o
Ã]^j
je
m_d
ekh
_dj[h[ij
Xo
cWn_c_p_d]
i_ppb["
^_]^b_]^j#
_d]
ÄWi^o
Z_ifbWo
c[Y^Wd_ici
j^Wj
Wff[Wb
je
ekh
Z[i_h[
je
X[
[dj[hjW_d[Z$

EdY[
_cfb[c[dj[Z"
^em[l[h"
j^[i[
Ykj[
Z_ifbWoi
bei[
j^[_h
ifWha
_d
W

cWjj[h
e\
ZWoi
WdZ
X[Yec[
`kij
fbW_d
Wddeo_d]$
7d
[\\[Yj_l[
ZWi^XeWhZ

_i
j^[
fheZkYj
dej
e\
Ykj[
]Wk][i"
c[j[hi"
WdZ
jhW\ÃY
b_]^ji
<_]kh[
'#'"

Xkj
hWj^[h
e\
_d\ehc[Z
Z[i_]d0
ceh[
iY_[dY[
j^Wd
Whj"
ceh[
i_cfb_Y_jo
j^Wd

ZWppb[$
?j
_i"
WXel[
Wbb
[bi["
WXekj
Yecckd_YWj_ed$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
+

<_]kh[
'#'$
7
jof_YWb
ÄWi^o
ZWi^XeWhZ$
9Wd¼j
oek
`kij
\[[b
j^[
[d]_d[
h[ll_d]5

J^_i
\W_bkh[
Xo
ie\jmWh[
l[dZehi
je
\eYki
ed
m^Wj
m[
WYjkWbbo
d[[Z
_i

^WhZbo
kd_gk[
je
ZWi^XeWhZi$
Ceij
ie\jmWh[
ik\\[hi
\hec
j^[
iWc[
i^ehj#
Yec_d]¸Z[if_j[
Wbb
j^[
^of[
WXekj
ki[h#\h_[dZb_d[ii"
_j
_i
Z_\ÃYkbj
je
ki[$

J^_i
iWZ
ijWj[
_i
ie
Yecced"
WdZ
^Wi
X[[d
j^[
YWi[
\eh
ie
bed]"
m[¼l[

]hemd
WYYkijec[Z
je
j^[
fW_d$
Ed
j^ei[
eYYWi_edi
m^[d
j^_i
k]bo
jhkj^

Xh[[Y^[i
j^[
ikh\WY[
e\
ekh
YediY_ekid[ii"
m[
kikWbbo
XbWc[
j^[
fheXb[c

ed
ekhi[bl[i
hWj^[h
j^Wd
j^[
ie\jmWh["
\hWc_d]
_j
_d
j[hci
e\
¹Yecfkj[h

_bb_j[hWYo$º
?\
m[
YekbZ
edbo
WZWfj
ceh[
je
j^[
Yecfkj[h
WdZ
^em
_j
mehai"

j^[h[
mekbZd¼j
X[
W
fheXb[c¸eh
ie
m[
h[Wied$
?d
^_i
_di_]^j\kb
Xeea

[dj_jb[Z
J^[
?dcWj[i
7h[
Hkdd_d]
j^[
7iobkc"
cWij[h
Z[i_]d[h
7bWd
9ee#
f[h
mh_j[i0
J^[
iWZ
j^_d]
WXekj
ZWdY_d]
X[WhmWh[
Q9eef[h¼i
j[hc
\eh
feehbo
Z[i_]d[Z
7bWd
9eef[h"
J^[
?dcWj[i
7h[
Hkdd_d]
j^[

ie\jmWh[
j^Wj
_i
Z_\ÃYkbj
je
ki[S
_i
j^Wj
ceij
f[efb[
Wh[
gk_j[
iWj_iÃ[Z
m_j^
7iobkc
?dZ_WdWfeb_i"
?D0
I7CI
FkXb_i^_d]"

j^[
bkcX[h_d]
X[Wij$
Edbo
m^[d
j^[o
i[[
iec[
h[Wb
ZWdY_d]
Ze
j^[o
X[]_d
je
'///"
+/$
ikif[Yj
j^Wj
j^[h[
_i
W
mehbZ
X[oedZ
khi_d[
i^k\Ä_d]$
Ie
\[m
ie\jmWh[#XWi[Z

fheZkYji
^Wl[
[n^_X_j[Z
Wdo
h[Wb
ZWdY_d]
WX_b_jo
j^Wj
ceij
f[efb[
Wh[
^ed[ijbo

kdWmWh[
j^Wj
j^_d]i
YekbZ
X[
X[jj[h¸W
bej
X[jj[h$

9eef[h
Wh]k[i
j^Wj
j^_i
\W_bkh[
_i
heej[Z
_d
Wd
WffheWY^
je
ie\jmWh[

Z[l[befc[dj
j^Wj
i_cfbo
Ze[id¼j
meha$
?d
W
][dk_d[
Wjj[cfj
je
fb[Wi[
j^[_h

Ykijec[hi"
ie\jmWh[
[d]_d[[hi
\eYki
ed
Y^[Ya_d]
Wbb
j^[
_j[ci"
ed[
Xo
ed["

e\\
e\
b_iji
e\
h[gk[ij[Z
\[Wjkh[i$
J^_i
WffheWY^
cWa[i
i[di[
je
j[Y^debe]o#
eh_[dj[Z
ie\jmWh[
[d]_d[[hi"
Xkj
_j
h[ikbji
_d
bkcX[h_d]
X[Wiji$
9kijec[hi

Wh[
[nf[hj
_d
adem_d]
m^Wj
j^[o
d[[Z
je
WYYecfb_i^"
Xkj
dej
_d
adem#
_d]
^em
ie\jmWh[
ek]^j
je
X[
Z[i_]d[Z
je
ikffehj
j^[_h
d[[Zi$
7bbem_d]

Ykijec[hi
je
Z[i_]d
ie\jmWh[
j^hek]^
\[Wjkh[
h[gk[iji
_i
j^[
mehij
\ehc
e\

Z_iWij[h
Xo
Yecc_jj[[$

, ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

Ie\jmWh[
l[dZehi
i^ekbZ
Xh_d]
Z[i_]d
l_i_ed
WdZ
[nf[hj_i[
je
j^[
Z[l[bef#
c[dj
fheY[ii$
J^[o
ek]^j
je
adem
j^[
Z_\\[h[dY[
X[jm[[d
ikf[hÃY_Wb
]b_jp

WdZ
m^Wj
h[Wbbo
mehai$
8kj
j^[o¼h[
ie
[n^Wkij[Z
\hec
meha_d]
kd]eZbo

^ekhi
jho_d]
je
igk[[p[
ceh[
\[Wjkh[i
_dje
j^[
d[nj
h[b[Wi[
j^Wj
j^[o¼h[
b[\j

m_j^
de
j_c[
je
Ze
j^[
h[i[WhY^
d[[Z[Z
je
Z_iYel[h
m^Wj
WYjkWbbo
mehai"

eh
[l[d
je
ij[f
XWYa
WdZ
eXi[hl[
^em
j^[_h
fheZkYji
Wh[
h[Wbbo
X[_d]
ki[Z

WdZ
\W_b_d]
_d
j^[
fheY[ii$

J^[
fWhj
e\
_d\ehcWj_ed
j[Y^debe]o
j^Wj
\eYki[i
ed
h[fehj_d]
WdZ
WdWboi_i

Ykhh[djbo
]e[i
Xo
j^[
dWc[
Xki_d[ii
_dj[bb_][dY[
8?$
Je
ZWj["
8?
l[dZehi

^Wl[
YedY[djhWj[Z
ed
Z[l[bef_d]
j^[
kdZ[hbo_d]
j[Y^debe]_[i
j^Wj
Wh[
ki[Z

je
]Wj^[h
ZWjW
\hec
iekhY[
ioij[ci"
jhWdi\ehc
ZWjW
_dje
W
ceh[
kiWXb[

\ehc"
ijeh[
ZWjW
_d
^_]^#f[h\ehcWdY[
ZWjWXWi[i"
WYY[ii
ZWjW
\eh
ki["
WdZ

fh[i[dj
ZWjW
_d
j^[
\ehc
e\
h[fehji$
Jh[c[dZeki
fhe]h[ii
^Wi
X[[d
cWZ[
_d

j^[i[
Wh[Wi"
h[ikbj_d]
_d
heXkij
j[Y^debe]_[i
j^Wj
YWd
^WdZb[
^k][
h[fei_je#
h_[i
e\
ZWjW$
>em[l[h"
m^_b[
m[
^Wl[
cWdW][Z
je
mWh[^eki[
W
]h[Wj
Z[Wb

e\
_d\ehcWj_ed"
m[
^Wl[
cWZ[
b_jjb[
fhe]h[ii
_d
ki_d]
j^Wj
_d\ehcWj_ed

[\\[Yj_l[bo$
H[bWj_l[bo
b_jjb[
[\\ehj
^Wi
X[[d
Z[Z_YWj[Z
je
[d]W]_d]
^kcWd

_dj[bb_][dY["
m^_Y^
_i
m^Wj
j^_i
_dZkijho"
Xo
Z[Ãd_j_ed"
_i
ikffei[Z
je
X[

WXekj$

7
]beiiWho
ed
j^[
=Whjd[h
=hekf¼i
m[X
i_j[
Z[Ãd[i
Xki_d[ii
_dj[bb_][dY[
Wi

¹7d
_dj[hWYj_l[
fheY[ii
\eh
[nfbeh_d]
WdZ
WdWbop_d]
ijhkYjkh[Z"
ZecW_d#
if[Y_ÃY
_d\ehcWj_ed±
je
Z_iY[hd
Xki_d[ii
jh[dZi
eh
fWjj[hdi"
j^[h[Xo

Z[h_l_d]
_di_]^ji
WdZ
ZhWm_d]
YedYbki_ediº
^jjf0%%mmm$]Whjd[h$Yec%,U
^[bf%]beiiWho%=beiiWho8$`if$
Je
fhe]h[ii
_d
j^_i
mehj^m^_b[
l[djkh["
j^[

8?
_dZkijho
ckij
i^_\j
_ji
\eYki
dem
je
Wd
[d]W]_d]
_dj[hWYj_ed
m_j^
^kcWd

f[hY[fj_ed
WdZ
_dj[bb_][dY[$
Je
Ze
j^_i"
l[dZehi
ckij
XWi[
j^[_h
[\\ehji
ed

W
Ãhc
kdZ[hijWdZ_d]
e\
^em
f[efb[
f[hY[_l[
WdZ
j^_da"
Xk_bZ_d]
_dj[h#
\WY[i"
l_ikWb
Z_ifbWoi"
WdZ
c[j^eZi
e\
_dj[hWYj_ed
j^Wj
Ãj
i[Wcb[iibo
m_j^

^kcWd
WX_b_jo$

;l[d
:Wi^XeWhZi
>Wl[
W
>_ijeho
?d
cWdo
h[if[Yji"
¹ZWi^XeWhZº
_i
i_cfbo
W
d[m
dWc[
\eh
j^[
;n[Ykj_l[

?d\ehcWj_ed
Ioij[ci
;?Ii
Ãhij
Z[l[bef[Z
_d
j^[
'/.&i$
J^[i[
_cfb[#
c[djWj_edi
h[cW_d[Z
[nYbki_l[bo
_d
j^[
e\ÃY[i
e\
[n[Ykj_l[i
WdZ
d[l[h

dkcX[h[Z
ceh[
j^Wd
W
\[m"
ie
_j
_i
kdb_a[bo
j^Wj
oek¼l[
[l[h
WYjkWbbo
i[[d

ed[$
?
iWj
j^hek]^
W
\[m
l[dZeh
Z[cei
XWYa
_d
j^[
'/.&i
Xkj
d[l[h
Z_Z

i[[
Wd
WYjkWb
ioij[c
_d
ki[$
J^[
kikWb
fkhfei[
e\
Wd
;?I
mWi
je
Z_ifbWo
W

^WdZ\kb
e\
a[o
ÃdWdY_Wb
c[Wikh[i
j^hek]^
W
i_cfb[
_dj[h\WY[
j^Wj
¹[l[d

Wd
[n[Ykj_l[
YekbZ
kdZ[hijWdZ$º
J^ek]^
b_c_j[Z
_d
iYef["
j^[
]eWb
mWi

l_i_edWho
WdZ
mehj^m^_b["
Xkj
W^[WZ
e\
_ji
j_c[$
8WYa
j^[d"
X[\eh[
ZWjW

mWh[^eki_d]
WdZ
Xki_d[ii
_dj[bb_][dY[
^WZ
[lebl[Z
j^[
d[Y[iiWho
ZWjW#
^WdZb_d]
c[j^eZebe]_[i
WdZ
]_l[d
i^Wf[
je
j^[
d[Y[iiWho
j[Y^debe]_[i"

 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
-

j^[
l_i_ed
i_cfbo
mWid¼j
fhWYj_YWb1
_j
YekbZd¼j
X[
h[Wb_p[Z
X[YWki[
j^[

h[gk_h[Z
_d\ehcWj_ed
mWi
_dYecfb[j["
kdh[b_WXb["
WdZ
ifh[WZ
WYheii
jee

cWdo
Z_ifWhWj[
iekhY[i$
J^ki"
_d
j^[
iWc[
Z[YWZ[
j^Wj
j^[
;?I
Whei["
_j

Wbie
m[dj
_dje
^_X[hdWj_ed"
fh[i[hl_d]
_ji
l_i_ed
_d
j^[
i^WZemi
kdj_b
j^[

j_c[
mWi
h_f[±
J^Wj
_i"
kdj_b
dem$

:kh_d]
j^[
'//&i"
ZWjW
mWh[^eki_d]"
edb_d[
WdWboj_YWb
fheY[ii_d]
EB7F"

WdZ
[l[djkWbbo
Xki_d[ii
_dj[bb_][dY[
meha[Z
Wi
fWhjd[hi
je
jWc[
j^[
m_bZ

edibWk]^j
e\
j^[
_d\ehcWj_ed
W][$
J^[
[cf^Wi_i
Zkh_d]
j^ei[
o[Whi
mWi

ed
Yebb[Yj_d]"
Yehh[Yj_d]"
_dj[]hWj_d]"
ijeh_d]"
WdZ
WYY[ii_d]
_d\ehcWj_ed

_d
mWoi
j^Wj
iek]^j
je
]kWhWdj[[
_ji
WYYkhWYo"
j_c[b_d[ii"
WdZ
ki[\kbd[ii$

<hec
j^[
[Whbo
ZWoi
e\
ZWjW
mWh[^eki_d]
ed
_dje
j^[
[Whbo
o[Whi
e\
j^_i

d[m
c_bb[dd_kc"
j^[
[\\ehj
^Wi
bWh][bo
\eYki[Z
ed
j^[
j[Y^debe]_[i"
WdZ
je

W
b[ii[h
Z[]h[[
j^[
c[j^eZebe]_[i"
d[[Z[Z
je
cWa[
_d\ehcWj_ed
WlW_bWXb[

WdZ
ki[\kb$
J^[
Z_h[Yj
X[d[ÃY_Wh_[i
ie
\Wh
^Wl[
ceijbo
X[[d
\ebai
m^e
Wh[

^_]^bo
fheÃY_[dj
_d
j^[
ki[
e\
Yecfkj[hi
WdZ
WXb[
je
ki[
j^[
WlW_bWXb[
jeebi

je
dWl_]Wj[
j^hek]^
bWh]["
e\j[d
Yecfb[n
ZWjWXWi[i$

M^Wj
Wbie
[c[h][Z
_d
j^[
[Whbo
'//&i"
Xkj
Z_Zd¼j
X[Yec[
fefkbWh
kdj_b

bWj[
_d
j^Wj
Z[YWZ["
mWi
W
d[m
WffheWY^
je
cWdW][c[dj
j^Wj
_dlebl[Z
j^[

_Z[dj_ÃYWj_ed
WdZ
ki[
e\
a[o
f[h\ehcWdY[
_dZ_YWjehi
AF?i"
_djheZkY[Z

Xo
HeX[hj
I$
AWfbWd
WdZ
:Wl_Z
F$
Dehjed
Wi
j^[
8WbWdY[Z
IYeh[YWhZ$
J^[

WZlWdY[i
_d
ZWjW
mWh[^eki_d]
WdZ
_ji
j[Y^debe]o
fWhjd[hi
i[j
j^[
ijW][
\eh

j^_i
d[m
_dj[h[ij
_d
cWdW][c[dj
j^hek]^
j^[
ki[
e\
c[jh_Yi¸WdZ
dej
`kij

ÃdWdY_Wb
c[jh_Yi¸j^Wj
ij_bb
Zec_dWj[i
j^[
Xki_d[ii
bWdZiYWf[
jeZWo$

8ki_#
d[ii
F[h\ehcWdY[
CWdW][c[dj
8FC"
Wi
_j
_i
dem
Yeccedbo
ademd"
^Wi

X[Yec[
Wd
_dj[hdWj_edWb
fh[eYYkfWj_ed$
J^[
_d\hWijhkYjkh[
Xk_bj
Xo
ZWjW

mWh[^eki_d]
WdZ
j^[
b_a["
Wi
m[bb
Wi
j^[
_dj[h[ij
e\
8FC
_d
c[jh_Yi
j^Wj

YWd
X[
ced_jeh[Z
[Wi_bo"
je][j^[h
j_bb[Z
WdZ
\[hj_b_p[Z
j^[
ie_b
_d
m^_Y^
j^[

^_X[hdWj_d]
i[[Zi
e\
;?I#jof[
Z_ifbWoi
m[h[
edY[
W]W_d
WXb[
je
]hem$

M^Wj
h[Wbbo
YWki[Z
^[WZi
je
jkhd
_d
h[Ye]d_j_ed
e\
ZWi^XeWhZi
Wi
ckY^

ceh[
j^Wd
oekh
[l[hoZWo
Ä[Z]b_d]
j[Y^debe]o"
^em[l[h"
mWi
j^[
;dhed

iYWdZWb
_d
(&&'$
J^[
W\j[hcWj^
fkj
d[m
fh[iikh[
ed
YehfehWj_edi
je

Z[cedijhWj[
j^[_h
WX_b_jo
je
Ybei[bo
ced_jeh
m^Wj
mWi
]e_d]
ed
_d
j^[_h

c_Zij
WdZ
je
j^[h[Xo
Wiikh[
i^Wh[^ebZ[hi
j^Wj
j^[o
m[h[
_d
Yedjheb$
J^_i

_dYh[Wi[Z
WYYekdjWX_b_jo"
YecX_d[Z
m_j^
j^[
YedYkhh[dj
[Yedec_Y
Zemd#
jkhd"
i[dj
9^_[\
?d\ehcWj_ed
E\ÃY[hi
9?Ei
ed
W
c_ii_ed
je
ÃdZ
Wdoj^_d]

j^Wj
YekbZ
^[bf
cWdW][hi
Wj
Wbb
b[l[bi
ceh[
[Wi_bo
WdZ
[\ÃY_[djbo
a[[f
Wd

[o[
ed
f[h\ehcWdY[$
Ceij
8?
l[dZehi
j^Wj
^WZd¼j
Wbh[WZo
ijWhj[Z
e\\[h_d]

W
ZWi^XeWhZ
fheZkYj
ieed
X[]Wd
je
Ze
ie"
iec[j_c[i
Xo
Yb[l[hbo
Y^Wd]#
_d]
j^[
dWc[
e\
Wd
[n_ij_d]
fheZkYj"
iec[j_c[i
Xo
gk_Yabo
fkhY^Wi_d]
j^[

h_]^ji
je
Wd
[n_ij_d]
fheZkYj
\hec
W
icWbb[h
l[dZeh"
WdZ
iec[j_c[i
Xo

YeXXb_d]
je][j^[h
f_[Y[i
e\
fheZkYji
j^Wj
Wbh[WZo
[n_ij[Z$
J^[
cWha[jfbWY[

ieed
e\\[h[Z
W
lWij
WhhWo
e\
ZWi^XeWhZ
ie\jmWh[
\hec
m^_Y^
je
Y^eei[$
. ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

:_if[bb_d]
j^[
9ed\ki_ed
B_a[
cWdo
fheZkYji
j^Wj
^_j
j^[
^_]^#j[Y^
iY[d[
m_j^
W
ifbWi^"
ZWi^XeWhZi

Wh[
l[_b[Z
_d
cWha[j_d]
^of[$
L_hjkWbbo
[l[ho
l[dZeh
_d
j^[
8?
ifWY[
YbW_ci

je
i[bb
ZWi^XeWhZ
ie\jmWh["
Xkj
\[m
YbWh_\o
m^Wj
ZWi^XeWhZi
WYjkWbbo
Wh[$

?¼c
h[c_dZ[Z
e\
j^[
[Whbo
o[Whi
e\
ZWjW
mWh[^eki_d]"
m^[d¸[W][h
je

b[Whd
WXekj
j^_i
d[m
WffheWY^
je
ZWjW
cWdW][c[dj¸?
Wia[Z
co
?8C

WYYekdj
cWdW][h
^em
?8C
Z[Ãd[Z
j^[
j[hc$
>_i
h[ifedi[
mWi
YbWii_Y
WdZ

h[\h[i^_d]bo
YWdZ_Z0
¹8o
ZWjW
mWh[^eki_d]
m[
Wj
?8C
c[Wd
m^Wj[l[h
j^[

Ykijec[h
j^_dai
_j
c[Wdi$º
?
h[Wb_p[
j^Wj
j^_i
mWid¼j
?8C¼i
e\ÃY_Wb
Z[Ãd_#
j_ed"
m^_Y^
?¼c
ikh[
[n_ij[Z
iec[m^[h[
_d
j^[_h
b_j[hWjkh["
Xkj
_j
mWi
co

Xbk[#ik_j[Z
\h_[dZ¼i
mWo
e\
iWo_d]
j^Wj
Wi
W
iWb[if[hied"
_j
mWi
ki[\kb
je

b[Wl[
j^[
j[hc
lW]k[
WdZ
Ä[n_Xb[$
7i
bed]
Wi
W
fheZkYj
eh
i[hl_Y[
h[cW_di

kdZ[Ãd[Z
eh
beei[bo
Z[Ãd[Z"
_j
_i
[Wio
je
YbW_c
j^Wj
oekh
YecfWdo
i[bbi
_j$

J^ei[
hWh[
ie\jmWh[
l[dZehi
j^Wj
^Wl[
jWa[d
j^[
j_c[
je
Z[Ãd[
j^[
j[hc
_d

j^[_h
cWha[j_d]
b_j[hWjkh[
ijWhj
m_j^
j^[
if[Y_ÃY
\[Wjkh[i
e\
j^[_h
fheZkYji

Wi
j^[
Yeh[
e\
j^[
Z[Ãd_j_ed"
hWj^[h
j^Wd
W
][d[h_Y
Z[iYh_fj_ed$
7i
W
h[ikbj"

l[dZeh
Z[Ãd_j_edi
j[dZ
je
X[
i[b\#lWb_ZWj_d]
b_iji
e\
j[Y^debe]_[i
WdZ
\[W#
jkh[i$
<eh
[nWcfb["
:h$
=h[]eho
B$
>el_i"
:_h[Yjeh
e\
FheZkYj
:[fbeoc[dj

\eh
Id_ff[ji
Ie\jmWh["
?dY$"
Wii[hji0

7Xb[
je
kd_l[hiWbbo
Yedd[Yj
je
Wdo
NCB
eh
>JCB
ZWjW
iekhY["
heXkij
ZWi^#
=h[]eho
B$
>el_i"
¹Ijef
I[WhY^_d]
\eh

XeWhZ
fheZkYji
_dj[bb_][djbo
]Wj^[h
WdZ
Z_ifbWo
ZWjW"
fhel_Z_d]
Xki_d[ii
_d#
?d\ehcWj_ed¸Ced_jeh
_j
m_j^
:Wi^XeWhZ

j[bb_][dY[
m_j^ekj
_dj[hhkfj_d]
meha
Äem±7d
[dj[hfh_i[
ZWi^XeWhZ
_i
Y^Wh#
J[Y^debe]o"º
:C
:_h[Yj"
<[XhkWho
(&&($
WYj[h_p[Z
Xo
W
Yebb[Yj_ed
e\
_dj[bb_][dj
W][dji
eh
]Wk][i"
[WY^
f[h\ehc_d]

\h[gk[dj
X_Z_h[Yj_edWb
Yecckd_YWj_ed
m_j^
ZWjW
iekhY[i$
B_a[
W
l_hjkWb
ijW\\
e\

(*n-
WdWboiji"
[WY^
W][dj
_d
j^[
ZWi^XeWhZ
_dj[bb_][djbo
]Wj^[hi"
fheY[ii[i
WdZ

fh[i[dji
ZWjW"
][d[hWj_d]
Wb[hji
WdZ
h[l_i_d]
WYj_edi
Wi
YedZ_j_edi
Y^Wd][$

CWha
B[ed"
¹:Wi^XeWhZ
:[ceYhWYo"º
7d
Whj_Yb[
_d
j^[
@kd[
',"
(&&)
[Z_j_ed
e\
9ecfkj[hmehbZ
Y_j[i
ijWj_ij_Yi

9ecfkj[hmehbZ"
@kd[
',"
(&&) \hec
W
ijkZo
Zed[
Xo
7CH
H[i[WhY^"
?dY$"
m^_Y^
Z[YbWh[i
j^Wj
¹ceh[

j^Wd
^Wb\
e\
j^[
')+
YecfWd_[i±
h[Y[djbo
ikhl[o[Z
Wh[
_cfb[c[dj_d]

ZWi^XeWhZi$º

Kd\ehjkdWj[bo"
j^[
Wkj^eh
d[l[h
j[bbi
ki
m^Wj
ZWi^XeWhZi
Wh[$
>[
j[Wi[i
ki

m_j^
^_dji"
ijWj_d]
j^Wj
ZWi^XeWhZi
WdZ
iYeh[YWhZi
Wh[
8?
jeebi
j^Wj
¹^Wl[

\ekdZ
W
d[m
^ec[
_d
j^[
YkX_Yb[i"º
^Wl_d]
cel[Z
\hec
m^[h[
j^[o
edY[

h[i_Z[Z
[nYbki_l[bo
_d
[n[Ykj_l[
ik_j[i
kdZ[h
j^[
dWc[
;n[Ykj_l[
?d\eh#
cWj_ed
Ioij[ci$
>[
]_l[i
[nWcfb[i
e\
^em
ZWi^XeWhZi
Wh[
X[_d]
ki[Z

WdZ
if[Wai
e\
j^[_h
X[d[Ãji"
Xkj
b[Wl[i
_j
je
ki
je
f_[Y[
je][j^[h
W
i[di[
e\

m^Wj
j^[o
Wh[$
J^[
Ybei[ij
^[
Yec[i
je
W
Z[Ãd_j_ed
_i
m^[d
^[
gkej[i
@e^d

>W][hjo
e\
7CH
H[i[WhY^"
?dY$0
¹:Wi^XeWhZi
WdZ
iYeh[YWhZi
Wh[
WXekj

c[Wikh_d]$º
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
/

M^_b[
YedZkYj_d]
Wd
[nj[di_l[
b_j[hWjkh[
h[l_[m
_d
(&&)
_d
i[WhY^
e\

W
]eeZ
meha_d]
Z[Ãd_j_ed"
?
l_i_j[Z
:WjWMWh[^eki_d]Edb_d[$Yec
WdZ

Yb_Ya[Z
ed
j^[
b_da
je
¹;n[Ykj_l[
:Wi^XeWhZº
Whj_Yb[i$
?d
h[ifedi["
?

h[Y[_l[Z
j^[
iWc[
'.
m[X
fW][i
e\
b_dai
j^Wj
?
\ekdZ
m^[d
?
i[fWhWj[bo

Yb_Ya[Z
ed
b_dai
\eh
¹8WbWdY[Z
IYeh[YWhZ"º
¹:WjW
GkWb_jo
WdZ
?dj[]hW#
j_ed"º
WdZ
¹:WjW
C_d_d]$º
;_j^[h
j^[
b_dai
m[h[d¼j
meha_d]
fhef[hbo"
eh

j^_i
m[X
fehjWb
\eh
j^[
ZWjW
mWh[^eki_d]
_dZkijho
Wj
j^[
j_c[
X[b_[l[Z
j^Wj

j^[i[
j[hci
Wbb
c[Wdj
j^[
iWc[
j^_d]$

?
ÃdWbbo
Z[Y_Z[Z
je
X[]_d
j^[
jWia
e\
Z[l_i_d]
W
meha_d]
Z[Ãd_j_ed
e\
co
8o
_dYbkZ_d]
j^[i[
[nWcfb[i
\hec
j^[
m[X

emd
Xo
[nWc_d_d]
[l[ho
[nWcfb[
e\
W
ZWi^XeWhZ
?
YekbZ
ÃdZ
ed
j^[
M[X"
i_j[i
e\
ie\jmWh[
l[dZehi
WdZ
W
\[m
ej^[h

_d
i[WhY^
e\
j^[_h
Yecced
Y^WhWYj[h_ij_Yi$
Oek
c_]^j
ÃdZ
_j
_dj[h[ij_d]
iekhY[i"
?
Ze
dej
c[Wd
je
[dZehi[
Wdo
e\

je
jWa[
W
i_c_bWh
`ekhd[o$
?d
j^[
d[nj
\[m
fW][i"
oek¼bb
i[[
iYh[[di^eji
e\
j^[i[
ZWi^XeWhZi
eh
j^[
ie\jmWh[
fheZkYji

ki[Z
je
Yh[Wj[
j^[c
Wi
[nWcfb[i
e\
]eeZ

Wd
Wiiehjc[dj
e\
ZWi^XeWhZi"
m^_Y^
m[h[
ceijbo
\ekdZ
ed
j^[
m[X
i_j[i

Z[i_]d"
deh
Wi
[njhWehZ_dWho
[nWcfb[i
e\

e\
l[dZehi
j^Wj
i[bb
ZWi^XeWhZ
ie\jmWh[$
JWa[
j^[
j_c[
dem
je
Xhemi[

feeh
Z[i_]d$
Je
lWho_d]
Z[]h[[i
j^[o
Wbb

j^hek]^
j^[i[
[nWcfb[i
WdZ
i[[
_\
oek
YWd
Z_iY[hd
Yecced
j^h[WZi
j^Wj
[n^_X_j
l_ikWb
Z[i_]d
fheXb[ci
j^Wj
?¼bb

c_]^j
X[
mel[d
_dje
W
ki[\kb
Z[Ãd_j_ed$ WZZh[ii
_d
bWj[h
Y^Wfj[hi$
'& ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
8ki_d[ii
EX`[Yji
h[b_[i

fh_cWh_bo
ed
]hWf^_YWb
c[Wdi
je
Z_ifbWo
W
i[h_[i
e\

f[h\ehcWdY[
c[Wikh[i$
Wbed]
m_j^
W
b_ij
e\
Wb[hji"

Dej_Y[
j^Wj
j^[
j_jb[
e\
j^_i
ZWi^XeWhZ
_i
¹Co
AF?i$º

A[o
f[h\ehcWdY[
_dZ_YWjehi
WdZ
ZWi^XeWhZi
Wff[Wh

je
X[
iodedoceki
_d
j^[
c_dZi
e\
ceij
l[dZehi$

Dej_Y[
j^[
]Wk][i
Wi
m[bb$
M[¼bb
i[[
gk_j[
W
\[m
e\

j^[c$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
''

<_]kh[
'#(
'( ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
EhWYb[
9ehfehWj_ed
Z_ifbWoi

W
Yebb[Yj_ed
e\
iWb[i
c[Wikh[i
\eh
WdWbop_d]
fheZkYj

f[h\ehcWdY[
Xo
YWj[]eho$
7bb
e\
j^[
c[Wikh[i
Wh[

Z_ifbWo[Z
]hWf^_YWbbo$
M[¼bb
ÃdZ
j^Wj
j^_i
[cf^Wi_i

ed
]hWf^_YWb
Z_ifbWo
c[Z_W
_i
\W_hbo
Yecced$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
')

<_]kh[
'#)
'* ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
?d\ehcWj_YW
9ehfehWj_ed

Z_ifbWoi
c[Wikh[i
e\
h[l[dk[
Xo
iWb[i
Y^Wdd[b

Wbed]
m_j^
W
b_ij
e\
h[fehji
j^Wj
YWd
X[
l_[m[Z

i[fWhWj[bo$
J^[
fh[Zec_dWdY[
e\
]hWf^_YWb
Z_ifbWo

c[Z_W
j^Wj
m[
eXi[hl[Z
ed
j^[
fh[l_eki
ZWi^XeWhZi

Wff[Whi
ed
j^_i
ed[
Wi
m[bb"
dejWXbo
_d
j^[
\ehc

e\
c[j[hi
Z[i_]d[Z
je
beea
b_a[
if[[Zec[j[hi$
J^[

b_ij
e\
h[fehji
WZZi
fehjWb
\kdYj_edWb_jo"
[dWXb_d]

j^_i
ZWi^XeWhZ
je
ef[hWj[
Wi
W
bWkdY^
fWZ
je

Yecfb[c[djWho
_d\ehcWj_ed$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
'+

<_]kh[
'#*
', ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
Fh_dY_fW
fhel_Z[i
Wd
el[hl_[m

e\
W
YecfWdo¼i
ÃdWdY_Wb
f[h\ehcWdY[
YecfWh[Z
je

jWh][ji
\eh
j^[
cedj^
e\
CWhY^"
Xej^
_d
jWXkbWh
\ehc

WdZ
Wi
W
i[h_[i
e\
]Wk][i$
J^[
_d\ehcWj_ed
YWd
X[

jW_beh[Z
Xo
i[b[Yj_d]
Z_\\[h[dj
cedj^i
WdZ
Wcekdji

e\
^_ijeho$
EdY[
W]W_d"
m[
i[[
W
ijhed]
[nfh[ii_ed

e\
j^[
ZWi^XeWhZ
c[jWf^eh"
j^_i
j_c[
_d
j^[
\ehc
e\

]hWf^_YWb
Z[l_Y[i
j^Wj
m[h[
Z[i_]d[Z
je
beea
b_a[
\k[b

]Wk][i$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
'-

<_]kh[
'#+
'. ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
9e]dei"
?dY$
Z_ifbWoi
W
jWXb[

WdZ
Ãl[
]hWf^i¸ed[
_d
j^[
\ehc
e\
W
mehbZ
cWf¸

je
Yecckd_YWj[
iWb[i
_d\ehcWj_ed$
:[if_j[
j^[
ed[

jWXb["
j^[h[¼i
W
Yedj_dk[Z
[cf^Wi_i
ed
]hWf^_YWb

c[Z_W$
Dej_Y[
Wbie
j^Wj
W
j^[c[
h[]WhZ_d]
j^[
l_ikWb

dWjkh[
WdZ
d[[Z
\eh
l_ikWb
Wff[Wb
e\
ZWi^XeWhZi
_i

[c[h]_d]
_d
j^[i[
[nWcfb[i$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
'/

<_]kh[
'#,
(& ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
>of[h_ed
Iebkj_edi

9ehfehWj_ed
Z_ifbWoi
h[]_edWb
iWb[i
h[l[dk[
_d
j^h[[

\ehci0
ed
W
cWf"
_d
W
XWh
]hWf^"
WdZ
_d
W
jWXb[$

:WjW
YWd
X[
Ãbj[h[Z
Xo
c[Wdi
e\
j^h[[
i[ji
e\
hWZ_e

Xkjjedi
ed
j^[
b[\j$
J^[i[
Ãbj[h_d]
c[Y^Wd_ici

Xk_bZ
hkZ_c[djWho
WdWboj_YWb
\kdYj_edWb_jo
_dje
j^_i

ZWi^XeWhZ$
L_ikWb
Z[YehWj_ed
h[_d\ehY[i
j^[
j^[c[

j^Wj
ZWi^XeWhZi
_dj[dj_edWbbo
ijh_l[
\eh
l_ikWb
Wff[Wb$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
('

<_]kh[
'#-
(( ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
9ehZW
J[Y^debe]_[i"
?dY$

\[Wjkh[i
Ä_]^j#beWZ_d]
c[Wikh[i
\eh
Wd
W_hb_d[
ki_d]

\ekh
fWd[bi
e\
]hWf^i$
>[h[
W]W_d
m[
i[[
Wd
Wjj[dj_ed

je
j^[
l_ikWb
Wff[Wb
e\
j^[
Z_ifbWo$
Dej_Y[
Wbie
_d
j^[

_dijhkYj_edi
Wj
j^[
jef
j^Wj
Wd
WX_b_jo
je
_dj[hWYj
m_j^

j^[
]hWf^i
^Wi
X[[d
Xk_bj
_dje
j^[
ZWi^XeWhZ"
ie
j^Wj

ki[hi
YWd
WYY[ii
WZZ_j_edWb
_d\ehcWj_ed
_d
fef#kfi

WdZ
Zh_bb
_dje
]h[Wj[h
b[l[bi
e\
Z[jW_b$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
()

<_]kh[
'#.
(* ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
L_ikWb
C_d_d]"
?dY$
Z_ifbWoi

lWh_eki
c[Wikh[i
e\
W
Y_jo¼i
jhWdi_j
ioij[c
je
]_l[
j^[

[n[Ykj_l[i
_d
Y^Wh][
W
gk_Ya
el[hl_[m
e\
j^[
ioij[c¼i

Ykhh[dj
WdZ
^_ijeh_YWb
f[h\ehcWdY[$
Ki[
e\
j^[
Yebehi

]h[[d"
o[bbem"
WdZ
h[Z
je
_dZ_YWj[
]eeZ"
iWj_i\WYjeho"

WdZ
XWZ
f[h\ehcWdY["
Wi
oek
YWd
i[[
ed
j^[
j^h[[

]hWf^_YWb
Z_ifbWoi
WhhWd][Z
^eh_pedjWbbo
WYheii
j^[

c_ZZb["
_i
Yecced
ed
ZWi^XeWhZi$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
(+

<_]kh[
'#/
(, ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
?d\ecc[hi_ed"
?dY$
]_l[i

[n[Ykj_l[i
e\
W
^ej[b
Y^W_d
j^[
c[Wdi
je
l_[m

ckbj_fb[
c[Wikh[i
e\
f[h\ehcWdY["
ed[
^ej[b
Wj
W

j_c[$
?j
_i
dej
kdkikWb
\eh
ZWi^XeWhZi
je
Z_l_Z[
j^[

\kbb
i[j
e\
ZWjW
_dje
_dZ_l_ZkWb
l_[mi"
Wi
j^_i
ed[
Ze[i

Xo
ki_d]
j^[
b_ijXen
_d
j^[
kff[h#b[\j
Yehd[h
je
[dWXb[

l_[m[hi
je
i[b[Yj
Wd
_dZ_l_ZkWb
^ej[b
Xo
beYWj_ed$
J^[

]h[Wj
YWh[
j^Wj
m[
i[[
_d
j^_i
[nWcfb[
je
h[Wb_ij_YWbbo

h[fheZkY[
j^[
ZWi^XeWhZ
c[jWf^eh"
[l[d
Zemd
je

j^[
i^[[d
ed
feb_i^[Z
c[jWb"
_i
Wd
[\\ehj
j^Wj
cWdo

l[dZehi
jWa[
gk_j[
i[h_ekibo$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
(-

<_]kh[
'#'&
(. ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
9[b[gk[ij
9ehfehWj_ed

_dj[]hWj[i
W
i[h_[i
e\
h[bWj[Z
jWXb[i
WdZ
]hWf^i
j^Wj

Wbbem
[n[Ykj_l[i
je
l_[m
i[l[hWb
Wif[Yji
e\
iWb[i

i_ckbjWd[ekibo$
?j
[n^_X_ji
Wd
[\\ehj
je
YecX_d[

W
h_Y^
i[j
e\
h[bWj[Z
ZWjW
ed
j^[
iYh[[d
je
fhel_Z[

W
Yecfh[^[di_l[
el[hl_[m
e\
W
YecfWdo¼i
iWb[i

f[h\ehcWdY[$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
(/

<_]kh[
'#''
)& ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
\hec
=[d[hWb
;b[Yjh_Y"
YWbb[Z
W

¹Z_]_jWb
YeYaf_j"º
fhel_Z[i
W
jWXkbWh
ikccWho

e\
f[h\ehcWdY["
Yecfb[c[dj[Z
Xo
W
Yebeh#YeZ[Z

_dZ_YWjeh
b_]^j
\eh
[WY^
c[Wikh[¼i
ijWjki$
HWj^[h
j^Wd

W
ZWi^XeWhZ
Z[i_]d[Z
Xo
W
ie\jmWh[
l[dZeh
je
[n^_X_j

_ji
fheZkYj"
j^_i
_i
Wd
WYjkWb
meha_d]
ZWi^XeWhZ
j^Wj

mWi
Z[i_]d[Z
Xo
W
YecfWdo
je
i[hl[
_ji
emd
Xki_d[ii

d[[Zi$
?d
j^_i
[nWcfb["
de
[\\ehj
mWi
cWZ[
je
b_j[hWbbo

h[fh[i[dj
j^[
ZWi^XeWhZ
eh
YeYaf_j
c[jWf^eh$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
)'

<_]kh[
'#'(
)( ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

J^_i
ZWi^XeWhZ
_i
ki[Z
Xo
j^[
Jh[Wikho
8eWhZ
e\

9WdWZW
je
ced_jeh
j^[
f[h\ehcWdY[
e\
W
fhe`[Yj$

>[h[
W]W_d
m[
^Wl[
W
ZWi^XeWhZ
j^Wj
mWi
Z[i_]d[Z

Xo
Wd
eh]Wd_pWj_ed
\eh
_ji
emd
ki[$
J^_i
j_c["
j^[

ZWi^XeWhZ
c[jWf^eh
cWa[i
W
jea[d
Wff[WhWdY[

_d
j^[
\ehc
e\
]Wk][i$
J^[
jhW\ÃY#b_]^j
Yebehi

]h[[d"
o[bbem"
WdZ
h[Z¸^[h[
m_j^
j^[
WZZ_j_ed
e\

Xbk[
\eh
j^[
[nY[fj_edWbbo
]eeZ
ijWjki
e\
¹W^[WZ

e\
iY^[Zkb[º¸Wh[
Wbie
ki[Z$
Kdb_a[
iec[
e\
j^[

[nWcfb[i
j^Wj
m[¼l[
i[[d
j^Wj
Z_ifbWo[Z
h[bWj_l[bo

b_jjb[
_d\ehcWj_ed"
j^_i
ed[
cWa[i
j^[
Wjj[cfj
je

fhel_Z[
j^[
Yecfh[^[di_l[
el[hl_[m
j^Wj
mekbZ

X[
d[[Z[Z
je
[\\[Yj_l[bo
ced_jeh
fhe]h[ii
WdZ

f[h\ehcWdY[$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
))

<_]kh[
'#')
)* ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

M^Wj
?i
W
:Wi^XeWhZ5
7i
oek
^Wl[
de
ZekXj
Z[j[hc_d[Z
Xo
[nWc_d_d]
j^[i[
[nWcfb[i"
j^[h[¼i
W

\W_h
Z[]h[[
e\
Z_l[hi_jo
_d
j^[
fheZkYji
j^Wj
]e
Xo
j^[
dWc[
¹ZWi^XeWhZ$º

Ed[
e\
j^[
\[m
Y^WhWYj[h_ij_Yi
j^Wj
ceij
l[dZehi
i[[c
je
W]h[[
ed
_i
j^Wj
\eh

iec[j^_d]
je
X[
YWbb[Z
W
ZWi^XeWhZ
_j
ckij
_dYbkZ[
]hWf^_YWb
Z_ifbWo
c[Y^W#
d_ici
ikY^
Wi
jhW\ÃY
b_]^ji
WdZ
W
lWh_[jo
e\
]Wk][i
WdZ
c[j[hi"
cWdo
i_c_bWh

je
j^[
\k[b
]Wk][i
WdZ
if[[Zec[j[hi
\ekdZ
_d
WkjeceX_b[i$
J^_i
Yb[Whbo

WiieY_Wj[i
8?
ZWi^XeWhZi
m_j^
j^[
\Wc_b_Wh
l[hi_edi
\ekdZ
_d
YWhi"
j^[h[Xo

b[l[hW]_d]
W
ki[\kb
c[jWf^eh¸Xkj
j^[
c[jWf^eh
Wbed[
Ze[id¼j
fhel_Z[
Wd

WZ[gkWj[
Z[Ãd_j_ed$
7Xekj
j^[
edbo
ej^[h
j^h[WZ
j^Wj
_i
Yecced
je
j^[i[

ZWi^XeWhZ
[nWcfb[i
_i
j^Wj
j^[o
kikWbbo
Wjj[cfj
je
fhel_Z[
Wd
el[hl_[m
e\

iec[j^_d]
j^Wj¼i
Ykhh[djbo
]e_d]
ed
_d
j^[
Xki_d[ii$

7\j[h
W
]h[Wj
Z[Wb
e\
h[i[WhY^
WdZ
j^ek]^j"
?
Yecfei[Z
W
Z[Ãd_j_ed
e\
co

emd
j^Wj
YWfjkh[i
j^[
[ii[dY[
e\
m^Wj
?
X[b_[l[
W
ZWi^XeWhZ
_i
Yb[Whbo

X_Wi[Z
jemWhZ
j^[
Y^WhWYj[h_ij_Yi
e\
j^_i
c[Z_kc
j^Wj
?
ÃdZ
ceij
ki[\kb
WdZ

kd_gk[$
Je
i[hl[
ki
m[bb"
j^_i
Z[Ãd_j_ed
ckij
Yb[Whbo
Z_\\[h[dj_Wj[
ZWi^#
XeWhZi
\hec
ej^[h
\ehci
e\
ZWjW
fh[i[djWj_ed"
WdZ
_j
ckij
[cf^Wi_p[
j^ei[

Y^WhWYj[h_ij_Yi
j^Wj
[\\[Yj_l[bo
ikffehj
j^[
]eWb
e\
Yecckd_YWj_ed$
>[h[¼i

co
Z[Ãd_j_ed"
m^_Y^
eh_]_dWbbo
Wff[Wh[Z
_d
?dj[bb_][dj
;dj[hfh_i[
cW]Wp_d[0

Ij[f^[d
<[m"
¹:Wi^XeWhZ
9ed\ki_ed"º

7
ZWi^XeWhZ
_i
W
l_ikWb
Z_ifbWo
e\
j^[
ceij
_cfehjWdj
_d\ehcWj_ed
d[[Z[Z
je

?dj[bb_][dj
;dj[hfh_i["
CWhY^
(&"
(&&*$ WY^_[l[
ed[
eh
ceh[
eX`[Yj_l[i1
Yedieb_ZWj[Z
WdZ
WhhWd][Z
ed
W
i_d]b[
iYh[[d
ie

j^[
_d\ehcWj_ed
YWd
X[
ced_jeh[Z
Wj
W
]bWdY[$

@kij
Wi
j^[
ZWi^XeWhZ
e\
W
YWh
fhel_Z[i
Yh_j_YWb
_d\ehcWj_ed
d[[Z[Z
je
ef[h#
Wj[
j^[
l[^_Yb[
Wj
W
]bWdY["
W
8?
ZWi^XeWhZ
i[hl[i
W
i_c_bWh
fkhfei["
m^[j^[h

oek¼h[
ki_d]
_j
je
cWa[
ijhWj[]_Y
Z[Y_i_edi
\eh
W
^k][
YehfehWj_ed"
hkd
j^[

ZW_bo
ef[hWj_edi
e\
W
j[Wc"
eh
f[h\ehc
jWiai
j^Wj
_dlebl[
de
ed[
Xkj
oekh#
i[b\$
J^[
c[Wdi
_i
W
i_d]b[#iYh[[d
Z_ifbWo"
WdZ
j^[
fkhfei[
_i
je
[\ÃY_[djbo

ced_jeh
j^[
_d\ehcWj_ed
d[[Z[Z
je
WY^_[l[
ed[¼i
eX`[Yj_l[i$

L_ikWb
Z_ifbWo
e\
j^[
ceij
_d\ehcWj_ed
d[[Z[Z
je
WY^_[l[
ed[


eh
ceh[
eX`[Yj_l[i
m^_Y^
Ãji
[dj_h[bo
ed
W
i_d]b[
Yecfkj[h
iYh[[d
ie
_j
YWd
X[
ced_jeh[Z
Wj
W
]bWdY[
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
)+

B[j¼i
]e
el[h
j^[
iWb_[dj
fe_dji0

:Wi^XeWhZi
Wh[
l_ikWb
Z_ifbWoi$
J^[
_d\ehcWj_ed
ed
W
ZWi^#
XeWhZ
_i
fh[i[dj[Z
l_ikWbbo"
kikWbbo
Wi
W
YecX_dWj_ed
e\
j[nj

WdZ
]hWf^_Yi"
Xkj
m_j^
Wd
[cf^Wi_i
ed
]hWf^_Yi$
:Wi^XeWhZi

Wh[
^_]^bo
]hWf^_YWb"
dej
X[YWki[
_j
_i
Ykj["
Xkj
X[YWki[
]hWf^_#
YWb
fh[i[djWj_ed"
^WdZb[Z
[nf[hjbo"
YWd
e\j[d
Yecckd_YWj[
m_j^

]h[Wj[h
[\ÃY_[dYo
WdZ
h_Y^[h
c[Wd_d]
j^Wd
j[nj
Wbed[$
>em
YWd

oek
X[ij
fh[i[dj
j^[
_d\ehcWj_ed
ie
j^Wj
^kcWd
[o[i
YWd
jWa[
_j

_d
gk_Yabo
WdZ
^kcWd
XhW_di
YWd
[Wi_bo
[njhWYj
j^[
Yehh[Yj
WdZ

ceij
_cfehjWdj
c[Wd_d]i
\hec
_j5
Je
Z[i_]d
ZWi^XeWhZi
[\#
\[Yj_l[bo"
oek
ckij
kdZ[hijWdZ
iec[j^_d]
WXekj
l_ikWb
f[hY[f#
j_ed¸m^Wj
mehai"
m^Wj
Ze[id¼j"
WdZ
m^o$

:Wi^XeWhZi
Z_ifbWo
j^[
_d\ehcWj_ed
d[[Z[Z
je
WY^_[l[
if[Y_ÃY

eX`[Yj_l[i$
Je
WY^_[l[
[l[d
W
i_d]b[
eX`[Yj_l[
e\j[d
h[gk_h[i
WY#
Y[ii
je
W
Yebb[Yj_ed
e\
_d\ehcWj_ed
j^Wj
_i
dej
ej^[hm_i[
h[bWj[Z"

e\j[d
Yec_d]
\hec
Z_l[hi[
iekhY[i
h[bWj[Z
je
lWh_eki
Xki_d[ii

\kdYj_edi$
?j
_id¼j
W
if[Y_ÃY
jof[
e\
_d\ehcWj_ed"
Xkj
_d\ehcW#
j_ed
e\
m^Wj[l[h
jof[
j^Wj
_i
d[[Z[Z
je
Ze
W
`eX$
?j
_id¼j
`kij

_d\ehcWj_ed
j^Wj
_i
d[[Z[Z
Xo
[n[Ykj_l[i
eh
[l[d
Xo
cWdW][hi1

_j
YWd
X[
_d\ehcWj_ed
j^Wj
_i
d[[Z[Z
Xo
Wdoed[
m^e
^Wi
eX`[Y#
j_l[i
je
c[[j$
J^[
h[gk_h[Z
_d\ehcWj_ed
YWd
X[
WdZ
e\j[d
_i
W

i[j
e\
AF?i"
Xkj
dej
d[Y[iiWh_bo"
\eh
ej^[h
jof[i
e\
_d\ehcWj_ed

c_]^j
Wbie
X[
d[[Z[Z
je
Ze
ed[¼i
`eX$

7
ZWi^XeWhZ
Ãji
ed
W
i_d]b[
Yecfkj[h
iYh[[d$
J^[
_d\ehcWj_ed

ckij
Ãj
ed
W
i_d]b[
iYh[[d"
[dj_h[bo
WlW_bWXb[
m_j^_d
j^[
l_[m[h¼i

[o[
ifWd
ie
_j
YWd
Wbb
X[
i[[d
Wj
edY["
Wj
W
]bWdY[$
?\
oek
ckij

iYhebb
WhekdZ
je
i[[
Wbb
j^[
_d\ehcWj_ed"
_j
^Wi
jhWdi]h[ii[Z
j^[

XekdZWh_[i
e\
W
ZWi^XeWhZ$
?\
oek
ckij
i^_\j
\hec
iYh[[d
je

iYh[[d
je
i[[
_j
Wbb"
oek¼l[
cWZ[
ki[
e\
ckbj_fb[
ZWi^XeWhZi$

J^[
eX`[Yj
_i
je
^Wl[
j^[
ceij
_cfehjWdj
_d\ehcWj_ed
h[WZ_bo

WdZ
[\\ehjb[iibo
WlW_bWXb[
ie
oek
YWd
gk_Yabo
WXiehX
m^Wj
oek

d[[Z
je
adem$

Ckij
j^[
_d\ehcWj_ed
X[
Z_ifbWo[Z
_d
W
m[X
Xhemi[h5
J^Wj

c_]^j
X[
j^[
X[ij
c[Z_kc
\eh
ceij
ZWi^XeWhZi
jeZWo"
Xkj
_j

_id¼j
j^[
edbo
WYY[fjWXb[
c[Z_kc"
WdZ
_j
c_]^j
dej
X[
j^[
X[ij

c[Z_kc
'&
o[Whi
\hec
dem$
Ckij
j^[
_d\ehcWj_ed
X[
YedijWdj#
bo
h[\h[i^[Z
_d
h[Wb
j_c[5
Edbo
_\
j^[
eX`[Yj_l[i
j^Wj
_j
i[hl[i

h[gk_h[
h[Wb#j_c[
_d\ehcWj_ed$
?\
oek
Wh[
ced_jeh_d]
W_h
jhW\ÃY

ki_d]
W
ZWi^XeWhZ"
oek
ckij
_cc[Z_Wj[bo
X[
_d\ehc[Z
m^[d

), ? D < E H C 7J ? E D
: 7 I > 8 E 7 H :
: ; I ? = D

iec[j^_d]
_i
mhed]$
Ed
j^[
ej^[h
^WdZ"
_\
oek
Wh[
cWa_d]
ijhW#
j[]_Y
Z[Y_i_edi
WXekj
^em
je
Xeeij
iWb[i"
W
idWfi^ej
e\
_d\eh#
cWj_ed
Wi
e\
bWij
d_]^j"
eh
f[h^Wfi
[l[d
j^[
[dZ
e\
bWij
cedj^"

i^ekbZ
meha
Ãd[$

:Wi^XeWhZi
Wh[
ki[Z
je
ced_jeh
_d\ehcWj_ed
Wj
W
]bWdY[$
:[if_j[
j^[
\WYj
j^Wj
_d\ehcWj_ed
WXekj
Wbceij
Wdoj^_d]
YWd

X[
Wffhefh_Wj[bo
Z_ifbWo[Z
_d
W
ZWi^XeWhZ"
j^[h[
_i
Wj
b[Wij
ed[

Y^WhWYj[h_ij_Y
j^Wj
Z[iYh_X[i
Wbceij
Wbb
j^[
_d\ehcWj_ed
\ekdZ

_d
ZWi^XeWhZi0
_j
_i
WXXh[l_Wj[Z
_d
j^[
\ehc
e\
ikccWh_[i
eh

[nY[fj_edi$
J^_i
_i
X[YWki[
oek
YWddej
ced_jeh
Wj
W
]bWdY[

Wbb
j^[
Z[jW_bi
d[[Z[Z
je
WY^_[l[
oekh
eX`[Yj_l[i$
7
ZWi^XeWhZ

ckij
X[
WXb[
je
gk_Yabo
fe_dj
ekj
j^Wj
iec[j^_d]
Z[i[hl[i
oekh

Wjj[dj_ed
WdZ
c_]^j
h[gk_h[
WYj_ed$
?j
d[[Zd¼j
fhel_Z[
Wbb
j^[

Z[jW_bi
d[Y[iiWho
je
jWa[
WYj_ed"
Xkj
_\
_j
Ze[id¼j"
_j
ek]^j
je

cWa[
_j
Wi
[Wio
WdZ
i[Wcb[ii
Wi
feii_Xb[
je
][j
je
j^Wj
_d\ehcW#
j_ed$
=[jj_d]
j^[h[
c_]^j
_dlebl[
i^_\j_d]
je
W
Z_\\[h[dj
Z_ifbWo

X[oedZ
j^[
ZWi^XeWhZ"
ki_d]
dWl_]Wj_edWb
c[j^eZi
ikY^
Wi

Zh_bb_d]
Zemd$
J^[
ZWi^XeWhZ
Ze[i
_ji
fh_cWho
`eX
_\
_j
j[bbi
oek

m_j^
de
ceh[
j^Wd
W
]bWdY[
j^Wj
oek
i^ekbZ
WYj$
?j
i[hl[i
oek

ikf[hXbo
_\
_j
Z_h[Yjbo
ef[di
j^[
Zeeh
je
Wdo
WZZ_j_edWb
_d\ehcW#
j_ed
j^Wj
oek
d[[Z
je
jWa[
j^Wj
WYj_ed$

J^Wj¼i
j^[
[ii[dY[
e\
j^[
ZWi^XeWhZ$
Dem
b[j¼i
WZZ
je
j^_i
Z[Ãd_j_ed
W

Yekfb[
ceh[
ikffehj_d]
Wjjh_Xkj[i
j^Wj
^[bf
ZWi^XeWhZi
Ze
j^[_h
`eX


[\\[Yj_l[bo0

:Wi^XeWhZi
^Wl[
icWbb"
YedY_i["
Yb[Wh"
WdZ
_djk_j_l[
Z_ifbWo

c[Y^Wd_ici$
:_ifbWo
c[Y^Wd_ici
j^Wj
Yb[Whbo
ijWj[
j^[_h
c[i#
iW][
m_j^ekj
jWa_d]
kf
ckY^
ifWY[
Wh[
h[gk_h[Z"
ie
j^Wj
j^[

[dj_h[
Yebb[Yj_ed
e\
_d\ehcWj_ed
m_bb
Ãj
_dje
j^[
b_c_j[Z
h[Wb
[i#
jWj[
e\
W
i_d]b[
iYh[[d$
?\
iec[j^_d]
j^Wj
beeai
b_a[
W
\k[b
]Wk]["

jhW\ÃY
i_]dWb"
eh
j^[hcec[j[h
Ãji
j^_i
h[gk_h[c[dj
X[ij
\eh
W

fWhj_YkbWh
f_[Y[
e\
_d\ehcWj_ed"
j^Wj¼i
m^Wj
oek
i^ekbZ
ki["

Xkj
_\
iec[j^_d]
[bi[
mehai
X[jj[h"
oek
i^ekbZ
ki[
j^Wj
_dij[WZ$

?di_ij_d]
ed
i[no
Z_ifbWoi
i_c_bWh
je
j^ei[
\ekdZ
_d
W
YWh
m^[d

ej^[h
c[Y^Wd_ici
mekbZ
meha
X[jj[h
_i
Yekdj[hfheZkYj_l[$

:Wi^XeWhZi
Wh[
Ykijec_p[Z$

J^[
_d\ehcWj_ed
ed
W
ZWi^XeWhZ

ckij
X[
jW_beh[Z
if[Y_ÃYWbbo
je
j^[
h[gk_h[c[dji
e\
W
]_l[d
f[h#
ied"
]hekf"
eh
\kdYj_ed1
ej^[hm_i["
_j
med¼j
i[hl[
_ji
fkhfei[$

7
ZWi^XeWhZ
_i
W
jof[
e\
Z_ifbWo"
W
\ehc
e\
fh[i[djWj_ed"
dej
W
if[Y_ÃY

jof[
e\
_d\ehcWj_ed
eh
j[Y^debe]o$
A[[f
j^_i
Z_ij_dYj_ed
Yb[Wh"
WdZ
oek

m_bb
X[
\h[[Z
je
\eYki
ed
m^Wj
h[Wbbo
cWjj[hi0
Z[i_]d_d]
ZWi^XeWhZi
je

Yecckd_YWj[$
 9 > 7 F J ; H
E D ; 0

9 B 7 H ? < O ? D =
J > ;
L ? I ? E D
)-

7
J_c[bo
Effehjkd_jo
I[l[hWb
Y_hYkcijWdY[i
^Wl[
h[Y[djbo
YecX_d[Z
je
Yh[Wj[
W
j_c[bo
effehjk#
d_jo
\eh
ZWi^XeWhZi
je
WZZ
lWbk[
je
j^[
mehafbWY["
_dYbkZ_d]
j[Y^debe]_[i

ikY^
Wi
^_]^#h[iebkj_ed
]hWf^_Yi"
[cf^Wi_i
ed
f[h\ehcWdY[
cWdW][c[dj

WdZ
c[jh_Yi"
WdZ
W
]hem_d]
h[Ye]d_j_ed
e\
l_ikWb
f[hY[fj_ed
Wi
W
fem[h\kb

Y^Wdd[b
\eh
_d\ehcWj_ed
WYgk_i_j_ed
WdZ
Yecfh[^[di_ed$
:Wi^XeWhZi
e\\[h

W
kd_gk[
iebkj_ed
je
j^[
fheXb[c
e\
_d\ehcWj_ed
el[hbeWZ¸dej
W
Yecfb[j[

iebkj_ed
Xo
Wdo
c[Wdi"
Xkj
ed[
j^Wj
^[bfi
W
bej$
7i
:h$
>el_i
mhej[
_d
j^Wj

iWc[
Whj_Yb[
_d
:C
:_h[Yj0
J^[
h[Wb
lWbk[
e\
ZWi^XeWhZ
fheZkYji
b_[i
_d
j^[_h
WX_b_jo
je
h[fbWY[
^kdj#WdZ#
=h[]eho
B$
>el_i"
¹Ijef
I[WhY^_d]
\eh

f[Ya
ZWjW#]Wj^[h_d]
j[Y^d_gk[i
m_j^
W
j_h[b[ii"
WZWfjWXb["
_d\ehcWj_ed#Äem

?d\ehcWj_ed
·
Ced_jeh
_j
m_j^
:Wi^XeWhZ

c[Y^Wd_ic$
:Wi^XeWhZi
jhWdi\ehc
ZWjW
h[fei_jeh_[i
_dje
YedikcWXb[
_d\eh#
J[Y^debe]o"º
:C
:_h[Yj"
<[XhkWho
(&&(
cWj_ed$

:Wi^XeWhZi
Wh[d¼j
Wbb
j^Wj
Z_\\[h[dj
\hec
iec[
e\
j^[
ej^[h
c[Wdi
e\
fh[#
i[dj_d]
_d\ehcWj_ed"
Xkj
m^[d
fhef[hbo
Z[i_]d[Z
j^[
i_d]b[#iYh[[d
Z_ifbWo

e\
_dj[]hWj[Z
WdZ
Ãd[bo
jkd[Z
ZWjW
YWd
Z[b_l[h
_di_]^j
_d
Wd
[if[Y_Wbbo

fem[h\kb
mWo$
:Wi^XeWhZi
WdZ
l_ikWb_pWj_ed
Wh[
Ye]d_j_l[
jeebi
j^Wj
_cfhel[
oekh
¹ifWd
e\

H_Y^WhZ
8hWj^
WdZ
C_Y^W[b
F[j[hi"
¹:Wi^#
Yedjhebº
el[h
W
bej
e\
Xki_d[ii
ZWjW$
J^[i[
jeebi
^[bf
f[efb[
l_ikWbbo
_Z[dj_\o

XeWhZ
:[i_]d0
M^o
:[i_]d
_i
?cfehjWdj"º

jh[dZi"
fWjj[hdi
WdZ
WdecWb_[i"
h[Wied
WXekj
m^Wj
j^[o
i[[
WdZ
^[bf
]k_Z[

:C
:_h[Yj"
EYjeX[h
(&&*
j^[c
jemWhZ
[\\[Yj_l[
Z[Y_i_edi$
7i
ikY^"
j^[i[
jeebi
d[[Z
je
b[l[hW][
f[efb[¼i

l_ikWb
YWfWX_b_j_[i$
M_j^
j^[
fh[lWb[dY[
e\
iYeh[YWhZi"
ZWi^XeWhZi
WdZ
ej^[h

l_ikWb_pWj_ed
jeebi
dem
m_Z[bo
WlW_bWXb[
\eh
Xki_d[ii
ki[hi
je
h[l_[m
j^[_h

ZWjW"
j^[
_iik[
e\
l_ikWb
_d\ehcWj_ed
Z[i_]d
_i
ceh[
_cfehjWdj
j^Wd
[l[h$

J^[
ÃdWb
i[dj_c[dj
j^Wj
8hWj^
WdZ
F[j[hi
[nfh[ii[Z
_d
j^_i
[nY[hfj
\hec

j^[_h
Whj_Yb[
kdZ[hiYeh[i
j^[
fkhfei[
e\
j^_i
Xeea$
7i
ZWjW
l_ikWb_pWj_ed

X[Yec[i
_dYh[Wi_d]bo
Yecced
Wi
W
c[Wdi
e\
Xki_d[ii
Yecckd_YWj_ed"
_j

_i
_cf[hWj_l[
j^Wj
[nf[hj_i[
_d
ZWjW
l_ikWb_pWj_ed
X[
WYgk_h[Z$
J^_i
[nf[h#
j_i[
ckij
X[
]hekdZ[Z
_d
Wd
kdZ[hijWdZ_d]
e\
l_ikWb
f[hY[fj_ed"
WdZ
e\

^em
j^_i
kdZ[hijWdZ_d]
YWd
X[
[\\[Yj_l[bo
Wffb_[Z
je
j^[
l_ikWb
Z_ifbWo
e\

ZWjW¸m^Wj
mehai"
m^Wj
Ze[id¼j"
WdZ
m^o$
J^[i[
ia_bbi
Wh[
hWh[bo
\ekdZ

_d
j^[
Xki_d[ii
mehbZ"
dej
X[YWki[
j^[o
Wh[
Z_\ÃYkbj
je
b[Whd"
Xkj
X[YWki[

j^[
d[[Z
je
b[Whd
j^[c
_i
i[bZec
h[Ye]d_p[Z$
J^_i
_i
jhk[
_d
][d[hWb"
WdZ

[if[Y_Wbbo
m_j^
h[]WhZ
je
ZWi^XeWhZi$
J^[
Y^Wbb[d][
e\
fh[i[dj_d]
W
bWh][

Wiiehjc[dj
e\
ZWjW
ed
W
i_d]b[
iYh[[d
_d
W
mWo
j^Wj
fheZkY[i
_cc[Z_Wj[

_di_]^j
_i
Xo
de
c[Wdi
jh_l_Wb$
8kYab[
kf1
oek¼h[
_d
\eh
W
\kd
h_Z[$

$ASHBOARD?#(COPYINDD 0-