Tuesday, December 8, 2009

Equity loan

An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.

Many lending institutions require the borrower to repay only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onwards. Some loan products also allow the possibility to redraw cash up to the original LTV, potentially perpetuating the life of the loan beyond the original loan term.

The rate of interest applied to equity loans is much lower than that applied to unsecured loans, such as credit card debt. The reasoning behind this is that equity loans involve collateral, and credit card debt does not.

Sunday, December 6, 2009

Term life insurance

Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments and/or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is often the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis.

Term life insurance is the original form of life insurance and can be contrasted to permanent life insurance such as whole life, universal life, andvariable universal life. Unlike permanent life insurance policies guarantee coverage at fixed premiums for the lifetime of the covered individual. Additionally many permanent life insurance products build a predetermined cash value over the life of the contract available for later withdrawal by the client under specific conditions.

Term insurance functions in a manner similar to most other types of insurance in that it satisfies claims against what is insured if the premiums are up to date and the contract has not expired, and does not expect a return of Premium dollars if no claims are filed. As an example, auto insurance will satisfy claims against the insured in the event of an accident and a home owner policy will satisfy claims against the home if it is damaged or destroyed by, for example, an earthquake or fire. Whether or not these events will occur is uncertain, and if the policy holder discontinues coverage because he has sold the insured car or home the insurance company will not refund the premium. This is purely risk protection.

Usage

Because term life insurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities, for the insured. Such responsibilities may include, but are not limited to, consumer debt, dependent care, college education for dependents, funeral costs, andmortgages. Term life insurance is generally chosen in favor of permanent life insurance because it is usually much less expensive (depending on the length of the term). Many financial advisors or other experts commonly recommend term life insurance as a means to cover potential expenses until such time that there are sufficient funds available from savings to protect those whom the insurance coverage was intended to protect. For example, an individual might choose to obtain a policy whose term expires near his or her retirement age based on the premise that, by the time the individual retires, he or she would have amassed sufficient funds in retirement savings to protect their loved ones.

Annual renewable term

The simplest form of term life insurance is for a term of one year. The death benefit would be paid by the insurance company if the insured died during the one year term, while no benefit is paid if the insured dies one day after the last day of the one year term. The premium paid is then based on the expected probability of the insured dying in that one year.

Because the likelihood of dying in the next year is low for anyone that the insurer would accept for the coverage, purchase of only one year of coverage is rare.

One of the main challenges to renewal experienced with some of these policies is requiring proof of insurability. For instance the insured could acquire a terminal illness within the term, but not actually die until after the term expires. Because of the terminal illness, the purchaser would likely be uninsurable after the expiration of the initial term, and would be unable to renew the policy or purchase a new one.

This issue is frequently overcome by a feature in some policies called guaranteed reinsurability included on some programs, that allows the insured to renew without proof of insurability.

A version of term insurance which is commonly purchased is annual renewable term (ART). In this form, the premium is paid for one year of coverage, but the policy is guaranteed to be able to be continued each year for a given period of years. This period varies from 10 to 30 years, or occasionally until age 95. As the insured ages, the premiums increase with each renewal period, eventually becoming financially inviable as the rates for a policy would eventually exceed the cost of a permanent policy. In this form the premium is slightly higher than for a single year's coverage, but the chances of the benefit being paid are much higher.

Level term life insurance

Much more common than annual renewable term insurance is guaranteed level premium term life insurance, where the premium is guaranteed to be the same for a given period of years. The most common terms are 10, 15, 20, and 30 years.

In this form, the premium paid each year remains the same for the duration of the contract. This cost is based on the summed cost of each year's annual renewable term rates, with a time value of money adjustment made by the insurer. Thus, the longer the term the premium is level for, the higher the premium, because the older, more expensive to insure years are averaged into the premium.

Most level term programs include a renewal option and allow the insured to renew for a maximum guaranteed rate if the insured period needs to be extended. It is important to note that the renewal may or may not be guaranteed and the insured should review their contract to see if evidence of insurability is required to renew the policy. Typically this clause is invoked only if the health of the insured deteriorates significantly during the term, and poor health would prevent them from being able to provide proof of insurability.

Payout likelihood and cost difference

Both term insurance and permanent insurance use the exact same mortality tables for calculating the cost of insurance, and a death benefit which is income tax free, as long as the policy is in force and premiums are current; however, the premiums are substantially different.

The reason the costs are substantially different is that term programs may expire without paying out, while permanent programs must always pay out eventually. To address this Permanent programs have built in cash accumulations vehicles to force the insured to "self insure" making the programs many times more expensive.

Insurance industry studies have shown that the probability of filing a death benefit claim under a term insurance policy is unlikely.[citation needed]One study placed the percentage as low as 1% of policies paying a benefit. The low payout likelihood allows term insurance to be relatively inexpensive. The low payout percentage is a combination of there being a low likelihood (in the aggregate) of a random, healthy person dying within a short period of time. Because of the low likelihood of an insurer having to pay a death benefit, term insurance seems better when considered in terms of coverage per premium dollar basis - by a factor of up to 10.

Refinance Student Loans - How and Why?

Let's face facts. Going to college these days, especially private universities, is no cheap task and can put you well into debt before you even enter the "real world" for yourself. Most people, especially young college students, do not have the tens of thousands of dollars to pony up every year for college tuition either. Therefore, most college students choose to use student loans to put themselves through college, whereby they can pay the tuition without breaking a sweat. However, when it comes time to graduate from college and pay these student loans back, many people do not know where to begin. How about refinancing these loans before you even start anything else?

Advantages of Refinancing

By refinancing your student loans, you can save yourself hundreds, even thousands of dollars before you start repaying your loans, an option that many people fail to use. When you leave college, chances are that you have a variety of loans on the books with an array of different interest rates attached to each one. Refinancing these loans can help you to lower these interest rates, or, at least, bring some of them down, thus lowering your monthly payments and saving YOU money in the end. Even if all of your interest rates cannot be refinanced, chances are that you can save money in some places through refinancing.

Where To Refinance?

But, when it comes to refinancing, where do you turn to find a reliable place to lower your interest rates? The Internet may just be your one-stop-shop for refinancing your student loans from college, as you can search a variety of sites that offer refinancing services to suit your needs. Be careful though. Not every web site offering financial help will actually help you, and non-credible sites may actually just be out to steal a buck from you. Deal with those college student loan web sites that deliver real refinancing results and are properly licensed. Then, sit back and enjoy your money-saving tactics.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more on how you can Refinance Student Loans at http://www.NextStudent.com .

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Best of CitySearch 2009

As 2009 comes to a close, CitySearch's annual 'Best of' Nominations are now happening! We would be honored if you, our fabulous clients, put in nominations for us in the Spa category.


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Saturday, December 5, 2009

Welcome to the Great Wall


Within a long time we had a thought to set up a website that could introduce the Great Wall of China to all over the world, which writings appearing in sources online and offline are often oversimple and centered generally on titles granted to the world's longest construction, and on travel information whose browsers might not know that the Great Wall is gasping under the burden of tourism.

Contrasting to the contents above, little has been mentioned about the origin of the Great Wall, and its significance why and how in military affairs during more than 20 dynasties who built it. What's worse, quite a few sources even hold wrongly about the building time and the length of the Great Wall, and arbitrarily about the role it played in the international world. All these may lead people to a false impression of the Great Wall.
Most people tend to think that the Great Wall was a product of wars (actually of defense), thus its role ought to have been most closely related to battles and bloodshedding. It is, however, not that case. Most time under the Great Wall was actually peace rather than war; the Great Wall, in all times, was connected to the culture, foreign policies, and economy (just think how much could be spent on this super project). Philosophically, the Great Wall speaks well for a growth in the mixed soil of peace and war. It stands for some power, an unbeatable power despite all bitter conditions, known as the Great Wall Spirit among Chinese people.

Besides culture, policies and economy, another essential part that can't be divided from the Great Wall, which is the history of China. The Great Wall, whose building started more than 2,000 years ago, represents a main part of Chinese history, which has a profound influence on China today. So to speak, the Great Wall, in a sense, is history. And you will see that this tendency is reflected in our content. We generally talk about the Great Wall with dynasties who built it, along with events and social aspects of those dynasties, which may branch out as far as to other topics. In this manner of narration, It can be a little loose and sightly off the point, but we think it interesting, and it makes sense to put the Great Wall into the Chinese history.



The Great Wall of China



The Great Wall of China is a series of stone and earthen fortifications in , built, rebuilt, and maintained between the 5th century BC and the 16th century to protect the northern borders of the Chinese Empire during the rule of successive dynasties. Several walls, referred to as the Great Wall of China , were built since the 5th century BC. The most famous is the wall built between 220 BC and 200 BC by the first Emperor of China, Qin Shi Huang; little of it remains; it was much farther north than the current wall, which was built during the Ming Dynasty.

The Great Wall is the world's longest human-made structure, stretching over approximately 6,400 km (4,000 miles) from Shanhaiguan in the east to Lop Nur in the west, along an arc that roughly delineates the southern edge of Inner Mongolia, but stretches to over 6,700 km (4,160 miles) in total. It is also the largest human-made structure ever built in terms of surface area and mass. At its peak the Ming Wall was guarded by more than one million men. It has been estimated that somewhere in the range of 2 to 3 million Chinese died as part of the centuries-long project of building the wall.

The first major wall was built during the reign of the First Emperor, the main emperor of the short-lived Qin dynasty. This wall was not constructed as a single endeavor, but rather was created by the joining of several regional walls built by the Warring States. It was located much further north than the current Great Wall, and very little remains of it. A defensive wall on the northern border was built and maintained by several dynasties at different times in Chinese history. The Great Wall that can still be seen today was built during the Ming Dynasty, on a much larger scale and with longer lasting materials (solid stone used for the sides and the top of the Wall) than any wall that had been built before. The primary purpose of the wall was not to keep out people, who could scale the wall, but to insure that semi-nomadic people on the outside of the wall could not cross with their horses or return easily with stolen property.

There have been four major walls:

208 BC (the Qin Dynasty)

1st century BC (the Han Dynasty)

1138 - 1198 (the Five Dynasties and Ten Kingdoms Period)

1368-1620 (from Hongwu Emperor until Wanli Emperor of the Ming Dynasty)

The Chinese were already familiar with the techniques of wall-building by the time of the Spring and Autumn Period, which began around the 7th century BC. During the Warring States Period from the 5th century BC to 221 BC, the states of Qi, Yan and Zhao all constructed extensive fortifications to defend their own borders. Built to withstand the attack of small arms such as swords and spears, these walls were made mostly by stamping earth and gravel between board frames.

Qin Shi Huang conquered all opposing states and unified in 221 BC, establishing the Qin Dynasty. Intending to impose centralized rule and prevent the resurgence of feudal lords, he ordered the destruction of the wall sections that divided his empire along the former state borders. To protect the empire against intrusions by the Xiongnu people from the north, he ordered the building of a new wall to connect the remaining fortifications along the empire's new northern frontier.

Transporting the large quantity of materials required for construction was difficult, so builders always tried to use local resources. Stones from the mountains were used over mountain ranges, while rammed earth was used for construction in the plains. The peasants who died working were buried inside the wall, to be unearthed later by archaeologists. There are no surviving historical records indicating the exact length and course of the Qin Dynasty walls. Most of the ancient walls have eroded away over the centuries, and very few sections remain today. Possibly as many as one million people died building the Wall under the Qin Dynasty.

Later, the Han, Sui, Northern and Jin dynasties all repaired, rebuilt, or expanded sections of the Great Wall at great cost to defend themselves against northern invaders.

The Great Wall concept was revived again during the Ming Dynasty following the Ming army's defeat by the Oirats in the Battle of Tumu in 1449. The Ming had failed to gain a clear upper-hand over the Mongols after successive battles, and the long-drawn conflict was taking a toll on the empire. The Ming adopted a new strategy to keep the nomadic Mongols out by constructing walls along the northern border of . Acknowledging the Mongol control established in the Ordos Desert , the wall followed the desert's southern edge instead of incorporating the bend of the Huang He .

Unlike the earlier Qin fortifications, the Ming construction was stronger and more elaborate due to the use of bricks and stone instead of rammed earth. As Mongol raids continued periodically over the years, the Ming devoted considerable resources to repair and reinforce the walls. Sections near the Ming capital of Beijing were especially strong.

Towards the end of the Shun Dynasty, the Great Wall helped defend the empire against the Manchu invasions that began around 1600. Under the military command of Yuan Chonghuan, the Ming army held off the Manchus at the heavily fortified Shanhaiguan pass, preventing the Manchus from entering the Liaodong Peninsula and the Chinese heartland. The Manchus were finally able to cross the Great Wall in 1644, when the gates at Shanhaiguan were opened by Wu Sangui, a Ming border general who disliked the activities of rulers of the Shun Dynasty. The Manchus quickly seized Beijing , and defeated the newly founded Shun Dynasty and remaining Ming resistance, to establish the Qing Dynasty.

Under Qing rule, 's borders extended beyond the walls and was annexed into the empire, so construction and repairs on the Great Wall were discontinued. A counterpart wall to the Great Wall in the south was erected to protect and divide the Chinese from the 'southern barbarians' called Miao (meaning barbaric and nomadic).

Notable Areas

The following three sections are in Beijing municipality, which were renovated and which are regularly visited by modern tourists

The " North Pass " of Juyongguan pass, known as the Badaling. When used by the Chinese to protect their land, this section of the wall has had many guards to defend capital [ Beijing ]. Made of stone and bricks from the hills, this portion of the Great Wall is 7.8 meters (25.6 ft) high and 5 meters (16.4 ft) wide.
v One of the most striking sections of the Ming Great Wall is where it climbs extremely steep slopes. It runs 11 kilometers (7 mi) long, ranges from 5 to 8 meters (16?6 ft) in height, and 6 meters (19.7 ft) across the bottom, narrowing up to 5 meters (16.4 ft) across the top. Wangjinglou is one of Jinshanling's 67 watchtowers, 980 meters (3,215 ft)above sea level.
South East of Jinshanling, is the Mutianyu Great Wall which winds along lofty, cragged mountains from the southeast to the northwest for approximately 2.25 kilometers (about 1.3 miles).It is connected with Juyongguan Pass to the west and Gubeikou to the east.

Another notable section lies near the eastern extremity of the wall, where the first pass of the Great Wall was built on the Shanhaiguan (known as the "Number One Pass Under Heaven"), the first mountain the Great Wall climbs. Jia Shan is also here, as is the Jiumenkou, which is the only portion of the wall that was built as a bridge. Shanhaiguan Great Wall is called the "Museum of the Construction of the Great Wall", because of the Meng Jiang-Nu Temple , built during the Song Dynasty.

Characteristics

Before the use of bricks, the Great Wall was mainly built from earth, stones, and wood.


During the Ming Dynasty, however, bricks were heavily used in many areas of the wall, as were materials such as tiles, lime, and stone. The size and weight of the bricks made them easier to work with than earth and stone, so construction quickened. Additionally, bricks could bear more weight and endure better than rammed earth. Stone can hold under its own weight better than brick, but is more difficult to use. Consequently, stones cut in rectangular shapes were used for the foundation, inner and outer brims, and gateways of the wall. Battlements line the uppermost portion of the vast majority of the wall, with defensive gaps a little over 30 cm (one foot) tall, and about 23 cm (9 inches) wide.

The steps that form the Great Wall of China are very steep and tall in some areas. Tourists often become exhausted climbing the wall and walk no more than a kilometre or two (around a mile).

Condition

While some portions north of Beijing and near tourist centers have been preserved and even reconstructed, in many locations the Wall is in disrepair. Those parts might serve as a village playground or a source of stones to rebuild houses and roads.

Sections of the Wall are also prone to graffiti and vandalism. Parts have been destroyed because the Wall is in the way of construction. No comprehensive survey of the wall has been carried out, so it is not possible to say how much of it survives, especially in remote areas. Intact or repaired portions of the Wall near developed tourist areas are often frequented by sellers of tourist kitsch.

More than 60 kilometres (37 mi) of the wall in Gansu province may disappear in the next 20 years, due to erosion from sandstorms. In places, the height of the wall has been reduced from more than five meters (16.4 ft) to less than two meters. The square lookout towers that characterize the most famous images of the wall have disappeared completely. Many western sections of the wall are constructed from mud, rather than brick and stone, and thus are more susceptible to erosion.

The materials used are those available near the site of construction. Near Beijing the wall is constructed from quarried limestone blocks. In other locations it may be quarried granite or fired brick. Where such materials are used, two finished walls are erected with earth and rubble fill placed in between with a final paving to form a single unit. In some areas the blocks were cemented with a mixture of glutinous rice and eggwhite.In the extreme western desert locations, where good materials are scarce, the wall was constructed from dirt rammed between rough wood tied together with woven mats.

The Wall is included in lists of the "Seven Medieval Wonders of the World" but was of course not one of the classical Seven Wonders of the World recognized by the ancient Greeks. The Wall was made a UNESCO World Heritage Site in 1987.

There is a longstanding disagreement about how visible the wall is in space. Richard Halliburton's 1938 book Second Book of Marvels said the Great Wall is the only man-made object visible from the moon. This myth has persisted, assuming urban legend status, sometimes even entering school textbooks. The Great Wall simply cannot be seen by the unaided eye from the distance of the moon. Even its visibility from near-earth orbit is questionable.

One astronaut reported, "We can see things as small as airport runways [but] the Great Wall is almost invisible from only 180 miles (290 km) up." Astronaut William Pogue thought he had seen it from Skylab but discovered he was actually looking at the Grand Canal near Beijing . He spotted the Great Wall with binoculars, but said that "it wasn't visible to the unaided eye." An Apollo astronaut said no human structures were visible at a distance of a few thousand miles. Chinese astronaut Yang Liwei said he couldn't see it at all.

From low-earth orbit, about a thousand times nearer than the moon, it may be visible under favorable conditions. Features on the moon that are dramatically visible at times can be undetectable on others, due to changes in lighting direction. The Great Wall is only a few meters wide - sized similar to highways and airport runways - and is about the same color as the soil surrounding it.Veteran U.S. astronaut Gene Cernan has stated: "At Earth orbit of 160 km to 320 km high, the Great Wall of China is, indeed, visible to the naked eye." Ed Lu, Expedition 7 Science Officer aboard the International Space Station, adds that, "...it's less visible than a lot of other objects. And you have to know where to look."

A recent photograph taken from the International Space Station appears to confirm that 's Great Wall can be seen with the naked eye after all. Leroy Chiao, a Chinese-American astronaut, took what the state-run China Daily newspaper says is the first photographic evidence that the Great Wall could be seen from space with the naked eye, under certain favorable viewing conditions and if one knows exactly where to look.

Battle Forts and Watch Towers

The wall is complemented by defensive fighting stations, to which wall defenders may retreat if overwhelmed. Each tower has unique and restricted stairways and entries to confuse attackers. Barracks and administrative centers are located at larger intervals. In addition to the usual military weapons of the period, specialized wall defense weapons were used. Reproductions of weapons are displayed at the wall.

The Mutianyu section of the Great Wall, 70 kilometers northeast of Beijing , is linked to the Gubeikou section on the east and the Badaling section on the west. It is one of the best sections of Great Wall. The Mutianyu section is crenellated for watching and shooting at the invading enemy. Some of the battle forts on the wall are as close as 50 meters apart.

The wall also has watch towers at regular intervals, which were used to store weapons, house troops, and send smoke signals. Barracks and administrative centers are located at larger intervals. Communication between the army units along the length of the Great Wall, including the ability to call reinforcements and warn garrisons of enemy movements, was of high importance. Signal towers were built upon hill tops or other high points along the wall for their visibility.



A Sketchy View of the Great Wall - Why Great?

* The Great Wall (长城, pinyin: chángchéng), also known as the Great Wall of 10,000 li (万里长城, pinyin: wànlǐ chángchéng), is included in the list of the "Seven Medieval Wonders of the World" (of course not one of the classical Seven Wonders of the World recognized by the ancient Greeks).

* The Wall was made a UNESCO World Heritage Site in 1987.

* The Chinese have a saying, 不到长城非好汉 (pinyin: bú dào chángchéng fēi hǎohàn), roughly meaning "you're not a real man if you haven't climbed the Great Wall".

But for what is the Wall great?

It's not, however, an easy question to answer. Let's just start from the Wall's length and building time.

The Earliest Wall, Around 700 B.C.

The first wall was arguably built around seven centuries B.C. by the Chu State, powerful prince enfeoffed by the Zhou Kingdom and flourish during the Spring and Autumn Period (B.C. 770 ~ 476). Most scholars also believe that the Qi State, prince like the Chu State, also built its wall about the same time of the wall of the Chu State. Nevertheless, not until hundreds of years later did many other princes, known as warring states, involved in wars for subjugating each other, begin to build their own walls. This time was known as the Warring States Period (B.C. 475 ~ 221).

Warring States Period was a turbulent period, with alliance and breakaway, and restless battles between states arising from princes that annexed smaller ones and consolidated their rules for domination when the ruling power of the Zhou Kingdom (till 221 B.C.) was declining. In this background, the defense of one state against attack from others became significant. Because walls proved the best screen to chariots, main arms of that time, relatively powerful states, i.e. the Qin, Wei, Zhao, Han, Qi, Chu and Yan States, also known as "the Seven Powers", began to build walls along their borders. These walls are called pre-Qin Walls by historians today. And they are predecessor of the Great Wall.

The First Great Wall, Around 200 B.C., Length, 10,000 Li, i.e. 5,000 Kilometers

After the Qin Dynasty had established and unified the whole China in 221 B.C., the Emperor, i.e. the First Emperor, ordered to combine the walls constructed by the Zhao, Yan and Ex-Qin States, mainly to fend off the intrusion of the flying cavalry that made the Xiongnu in the north, and thus formed the first wall that exceeded 10,000 li or 5,000 kilometers. The Great Wall, short for the Great Wall of 10,000 li, thus had its name.

Three Great Walls

Many people know about the Great Wall. But maybe fewer know that there are actually three such Great Walls, the longest built during the Han Dynasty (206 B.C. ~ A.D. 220), following the Qin Dynasty, exceeding even 20,000 li. The Great Walls of the Han and Qin Dynasties still have remains, but most of them no longer exist. The Wall we see today was largely built during the Ming Dynasty (1368 ~ 1644). It stretches over 12,000 li from Jiumenkou near the Yalujiang River in the east, to Jiayuguan Pass in the west. By the Great Wall, people now usually mean the Great Wall of the Ming Dynasty. But in a broad sense, the term indicates one of the three Walls above.
In Chinese history, more than twenty states and dynasties built their own walls. Counted together, they come to a formidable length of 100,000 li.

Great Military Works

Should people decide another list of the Medieval Wonders of Military Works of the World, the Great Wall would be very likely to be listed again. Many people have climbed the Great Wall and experienced being real men. They may have seen enjoyable and peaceful life on and down the Wall. They may have also been amazed at the beautiful scenery from the Wall and felt proud at a peak. But all these might fail to remind people that the Wall was once product of war: it was fortification in ancient times.

As a military works, the Wall was not merely, as seen almost everywhere in logos, site tickets and signs representing the Great Wall, the simple mode of one winding and crenellated wall mounted with some towers or platforms each distance apart. Rather, the Wall was a far more complex system into which builders brought their minds of war art.

The Wall falls into the scope of fortification, a military engineering science now still being researched that mainly deals with how to enhance the attack or defense capacity of a position to its terrain before or during the battle. Depending on whether built before or during the war, the fortification can be classified into two categories: the permanent and the temporary. The Wall belongs to the former. Devised as a permanent giant of defense works, in the process of construction, besides appropriate materials and sound structures adopted to make it solid enough to survive all weathers, the Wall required also thorough consideration of how the enemies might attack and of how to counterattack.

Ancient militarists believed that the best defense lies in both readiness for fight and unbeatable strength against assault. So on one hand, the dynasties built their Walls along the north boundaries to balk the intrusion of nomadic tribes and prepared for any battle along the defense lines. On the other hand, as the weapons of the enemies were being improved, the dynasties kept branching out their Walls and adding new functional parts to them. Take example for the Great Wall of the Ming Dynasty, during the 16 years of his station in Bianzhen County, present Jixian County in Tianjin, General Qi Jiguang presided over building the part of Wall running more than 1,000 li from Bianzhen County to the Shanhaiguan Pass and along the line set up over 1,000 fight towers. It helped to keep the peace of the border for a long time. Besides filling out the Walls with new component parts, the dynasties also set up near the lines passes, pass cities and outer cities, counties, forts, and so forth. All these combined as a complete regional, rather than a linear, defense system. Here special mention is made that the outer city, which often sat in front of the pass city and whose one or more gates made certain angles, sometimes 90 degrees, to the gate of the pass city, preventing the enemy from flinging in straightforward and sharing burden of the pass city.


Building

The building of the Wall was also matter-of-fact. In strategic places, double- or multi-walls were adopted to thicken and enforce the defense. For example, to protect its capital, present Beijing, the Ming Dynasty constructed three walls to the north and west of the city and between the walls disposed brocades to hold up enemy cavalries.

The builders of the Wall also noticed the possibility of enemies' entry from narrow passes of the sides and wanted to give them no chances. So we can often see walls in Beijing hike up to perilous hilltops. Some slopes are so abrupt that building walls along them is unthinkable even for people today. Fight towers were also designed out of that consideration. They were first adopted on the Great Wall of the Ming Dynasty. Evenly distributed on the Wall every 300 or 400 meters, they made it quick to round up a force at a certain point. More importantly, their distribution on the Wall referred the effective range of the arrow of the day, also 300 to 400 meters, so that soldiers taking a commanding position on the tower could kill enemies coming from the sides.

Governing

Policies were also made to make the gigantic works work. The governing of the Wall was often allocated to local organs. In the Qin Dynasty, along the Wall were set up 12 prefectures, responsible for keeping the defense of their corresponding parts. In the Ming Dynasty, the Wall was parted into 9 sectors, called "Nine Frontiers", governed by nine military counties, from east to west i.e. Liaodong, Jizhen, Xuanfu, Datong, Yansui, Ningxia, Guyuan and Gansu Counties, some names of which are still used today.

Architecture Wonder

The Great Wall is also an architecture wonder of the ancients. It was so big a project that it was impossible to build it in uniform forms and materials in different places. So we can see parts of different materials and various shapes, which were depended on local resources. If you have chances to walk thought the whole route of the Wall, as done first in 1985, Jan Molen and Dick, the latter of which against cancer, you would see how diverse the Wall is.

The Ming Dynasty was the last dynasty that ever built the wall. Since then, the wall gradually fell out of use as fortification. It no longer fitted new forms of wars and could hardly resist weapons that were being more powerful. Its function gradually faded, and eventually becomes a memory of yesterday.

But the Wall still stands there, as it was. It traverses the north part of China, being a masterpiece of both the architecture and the war art of ancient China. Having also witnessed the rise and fall of dynasties, it tells a glorious history created by its people.



Origin of the Great Wall

From 770 B.C. through 476 B.C. was the Spring and Autumn Period of China. During the Period, princes that held land from the Zhou Kingdom made themselves states. Among all the 149 states, the most powerful were the Qi, Jin, Chu, Qin, Lu and Zheng States.

For the wide use of iron tools and farm cattle, the social production of this period progressed greatly. The higher-rank people started to gain private croplands. The land was privatized, and the basic social system of the day, i.e. the Well Field System, began to collapse, which cracked Zhou Kingdom's leadership over its princes and caused among them wars for domination.

To conquer other states, stronger ones made frequent wars upon others. Only a few out of the more than a hundred had finally survived, and were anxious for a new round of war. These states included Qin, Wei, Yan, Zhao, Han, Qi, Chu, also referred to as "the Seven Powers", and others less strong. And the history came to the Warring States Period (B.C. 475 ~ 221).

The social production of this Period continued to grow. The advancing in agriculture and handicraft gave rise to thriving cities acting as marketplaces. The architecture of this time also improved remarkably and made it possible to build solider constructions of better structures in more flexible steps. On the other hand, wars went on unabatedly between the states, some of which at the same time were harassed by minority nationalities from the north. Hence the states built walls around important cities, especially their capitals.

A latest excavation has revealed that the wall-surrounded capital Linzi of the Qi State in the Warring States Period was four kilometers from east to west, and five kilometers from north to south. Palaces to rulers lay inside. Distributed in the city were workshops selling instruments made by way of smelting iron ores, casting bronze, abrading and carving bones and the like. It is recorded in Shi Ji, a great historical literature, that Linzi had over 700,000 families (the unit ancient Chinese used to count population) and was "so crowed with people and vehicles that they could hardly go without brushing each other".

The city Xiadu of the Yan State was eight kilometers from east to west, and four kilometers from north to south. The capital Handan of Zhao was three and four kilometers from east to west and from north to south.

Because walls around cities proved excellent defense, the states wanted to utilize this advantage widely. Hence they built walls on the borders and joined them up with natural barriers like large embankments and steep mountain ridges.

The building of walls expensed countless labors. But they were undoubtedly grand constructions even seen today.


The Wall of the Yan State

The Yan State was developed from a small prince. When the King Yan Zhaowang succeeded to the throne, he sought able people nationwide, collected them at hand and granted outstanding ones important positions. This gradually made Yan a strong state in the north of China.

The Yan State bordered the Qi State on the south, the Zhao State on the west and the Han State on the northeast. On the north the Yan State neighbored small but aggressive minority nationalities mainly Donghu, Linhu and Loufan. They harassed Yan's borders and threatened the security there. To guard against them, in the year 290 B.C., the Yan State built a wall along the Yanshan Mountain Range. The wall started from present Huailai County of Hebei Province, crossed the the Luanhe River, wound on and turned off to the northeast, extended over the Liaohe River and ended in present Liaoyang of Liaoning Province. The whole route ran as long as 1000 li or 500 kilometers. It is the North Wall of the Yan State. It was the last wall built in the Warring States Period.

Yan once succeeded in attacking the Qi State. For fear that the latter would fight back, Yan renovated the embankment of Yishui River and expanded it into a wall. It is known as the Yishui Wall. The Wall consisted of two parts. The first started from present Yixian County of Hebei Province, ran along the Yishui River, passed through Dingxing County and headed to the southeast. The second started from Xushui County of Hebei Province, ran towards the northeast till meeting the first part, then turned off to the southeast and finally arrived at the point about 10 kilometers southeast to Renqiu of Hebei Province.

The Wall of the Zhao State

The Zhao State established Handan as its capital, also the present city Handan of Hebei Province. Zhao neighbored the Wei State on the west, the Yellow River and Zhanghe River on the south, the Qi State on the east separated by the Qinghe River, and the Yan State on the north separated by the Yi'shui River. It also bordered minority nationalities of Hun, Loufan and Linhu on the northwest.

Because troopers of the minorities harassed Zhao frequently, threatening the safety of Zhao so as to have affected its living, Zhao's courageous and insightful King Zhaoyong, also King Zhao Wulin, in the year 366 B.C. led his army personally, and finished the state of Zhongshan. He soon vanquished another two enemies of Hulin and Loufan and forced them to the far north.

By 302 B.C., Zhao's territory had expanded to incorporate the present Tuoketuo and Wulateqianqi of Inner Mongolia, and the Great Bend area of the Yellow River, where immigrants afterward developed the agriculture.

To consolidate its north-border defense, Zhao began building a wall on its north in 300 B.C. The wall started from a point northeast to present Wei County of Hebei Province, ran west and passed through the north of Shanxi, turned off to the northwest and entered Inner Mongolia, hiked along the range of the Yinshan Mountains and went down to the west along the southern foot till present Langshan County of Inner Mongolia.

To defend against the Wei State, Zhao built another wall on the south. As wars between the two states mainly took place on the banks of the Zhangshui River, Zhao extended the north embankment of the River and constructed it into a wall. It is recorded in Shi Ji that "King Zhao Wuling called in State Secretary Louhuan and consulted, 'the previous King saw wars and turns of the sates and thought the best way to resist attacks from the Zhangshui and Fushui Rivers was to develop our south border area. That's why he afterward built a wall along this boundary.'" The "previous King" in the quotation was King Zhao Wuling's father Suhou. Also recorded in Shi Ji is that "Suhou began to build the wall in his 17th year of reign. " So we can infer that this wall was built within Suhou's ruling time. The site of the wall is near now Lizhang and Cixian County of Heibei Province, where the two rivers are still flowing.

Besides the two walls above, Zhao constructed another wall, which started from the point south to present Daixian County of Shanxi, ran southwest to Shanxi, headed on along the north feet of Hengshan and Luya Mountains till meeting the first branch of the Yellow River. This wall was probably the earliest wall Zhao built on its north.

The Wall of the Qi State

The Qi State established Linzi (present Linzi County of Shandong Province) as its capital. Qi was already a large and powerful prince before the Spring and Autumn Period. It neighbored the Chu, Lu and Song States on the south, the Yan State and the Bohai Sea on the north, the Zhao State and the Qinghe River on the west and the Yellow Sea on the east.

King Qi Xuanwang built a wall in its south part. The wall ran more than 500 kilometers from west to east, joining the embankment of Yuanhe River and the north foot of Taishan Mountain. It was referred to as "Great Defense" in some historical literatures.

The Wall of the Wei State

Wei was also a powerful State. After King Wei Wenhou succeeded to the throne, he put Likui, Leyang and great militarist Wuqi into important positions, which gradually made the state flourish. Wei later moved its capital Anyi, i.e. present Anyi County of Shanxi Province, to Daliang, now Kaifeng of Hennan.

Wei neighbored the Chu State on the southeast, taking present the Bianshui River as the boundary, the Song and Qi States on the east bounded by the Huaishui and Yingshui Rivers, the Han State on the south, the Qin State on the west bounded by North Luohe River and the Zhao State on the north.

Wei for years won wars upon the Qi, Chu, Song and Zhao States, but kept being defeated by the Qin State. While Qin took Wei as its serious trouble, Wei feared Qin. So Wei expanded the embankment of the Luoshui River near the west boundary and built it into a fortified wall. It ran more than 500 kilometers from south to north, starting from present Huxian County of Shannxi Province, going up the Luoshui River, passing through Fuxian, Suide, Mizhi County, crossing the Yellow River and finally arriving at present Guyang of Inner Mongolia. It was the West Wall of Wei. It is believed that King Wei Huiwang built this wall.

In a latest investigation over ancient walls, archeologists discovered some sites of the West Wall along a 300-kilometer route. The route started from Huanxian County of Shannxi Province, headed north and crossed the Weihe River, went on along the Luohe River, moved northeast and arrived at the west bank of the Yellow River of Hancheng County. The findings proved historical literatures of the West Wall route that set out from Huaxian County and headed north along the Luoshui River. Besides, a branch wall without mention in any material was discovered halfway on the exploitation. It branched out to the northeast and headed in the direction of Hancheng County.

In the late years of King Wei Huiwang, Wei was declining and kept losing wars to Qin, Chu, Qi and other states. To resist Qi and Qin, Wei built another wall near its capital Daliang. It was the South Wall of Wei. It can be inferred from literatures that this wall started from the place northwest to Old Yuanwu County of Henan Province, ran north and entered present Yuanyang County and then turned off the the southeast, went around to east Kaifeng, and headed westward till Mixian County. The length was about 200 kilometers.

The Wall of the Chu State

The Chu State was relatively slow in agriculture. But it kept a strong army and with it expanded its territory to the banks of the Changjiang River. Chu lay in the central plains of the middle and lower reaches of the Yellow River. It bordered the Qi, Song, Wei and Han States on the north, the Qin and Ba States on the west, Bai'e on the south and a vast sea on the east. Its land was the largest among the Seven Powers.

Chu began to fall in the late Warring States Period. It failed several wars to Qin, Han, Wei and other states after King Chu Huiwang had became the new ruler. Chu later expanded the embankments of Mianshui and Bishui Rivers and linked them to mountain ranges and high lands by building walls. The whole line was the Wall of Chu. It is known from literatures that the wall ran more than 400 kilometers from east to west. It started at present Biyang County of He'nan Province, moved north to Ye'xian County, turned to the west and hiked over Lushan Mountain, went on southwest and passed through northeast Neixiang County and finally arrived at present zhushan County of Hebei Province.

Recent years' archeological activities have uncovered a 100-kilometer wall that intersects from east to west Xunyang County of Shannxi Province. Layers of stones make the wall and in some place passageways are still perceptible. Further investigations have proved that it is the Wall of Chu. It could be built for resisting the powerful Qin State.

The Wall of the Qin State

Qin reformed its political system in the year 356 B.C. It is known as Shangyang's Reform. It enacted a new collection of decrees and encouraged the masses to grow plants and join the army. Owning vast fertile lands in present the central Shanxi plain and Sichuan Province, Qin soon surpassed other states in military power. But north nomads Donghu and Loufan frequently crossed the desert and harassed the north part of Qin. To resist their raids, Qin built a wall along its north border. This wall started from Mingxian County of Gansu Province, went northeast to present Longde and Kuyuan County of Ningxia Hui Autonomous Region, headed north along the Liupanshan Mountain, went on east to Huanxian County of Gansu Province and finally arrived at the bank of the Yellow River of Suide County of Shannxi Province.

The Great Wall of the Qin Dynasty

In 221 B.C., King Qin Shihuang defeated the other States, unified the whole China, and established the Qin Dynasty, also knowns as the First Empire, the first centralized empire in China. A long-time division by feudal lords ended.

The territory of the Qin Dynasty enlarged greatly, with its north border extending to present east Liaoning Province, Yinshan Mountains and the Great Bend of the Yellow River, the east border to the sea, the west to now Qinhai Province and the Gansu Plateau, and South to now Guangdong and Guangxi Province. The Qin Dynasty abolished other characters, laws and metrologies. To eradicate the influence of division left by the warring states, it replaced the enfeoffment with prefectures and counties and torn down the walls and embankments that blocked connections.

Hun, one old minority nationality from the north of China, began to thrive in the late Warring States War Period. When the Yan and Zhao States were falling off, Hun invaded them and bit by bit occupied large patches of land in the Great Bend area of the Yellow River. Hun migrated with seasons and based their agriculture mainly on collecting plants and hunting. This tradition made their troopers fast, depending on which the Huns looted labors and wealth on Qin's border. Hun damaged farming work and setting the north border of the Qin Dynasty unrest.

To solve the border trouble, Qin Shihuang appointed General Meng Tian for garrisoning troops on the north. In 215 B.C., Meng Tian led an army numbered 3,000,000 and assaulted Hun successfully. The battle returned present the south area of the Great Bend of the Yellow River of Southwest of Mongolia Province. Moreover, he swept crossed the Yellow River and took up present Linhe County, the Yinshan Mountains and the area north to the Wujiahe River, and set in these places 44 counties. The war forced Hun out of the Wall of Zhao and eliminated its threat over the Qin Dynasty.

Qin Shihuang later found that the walls of the Yan, Zhao and ex-Qin States were disconnected from each other and could hardly stop enemies from breaking in again. So in the year 215 B.C., he ordered to link up these three walls. The weather-beaten parts were also reconstructed and new parts were added in some places. The labors for this construction numbered 2,000,000, made up of the army under the command of Meng Tian, confiscated labors, captives of war and the guilty people against laws of that time. The whole construction lasted for 10 years.

The finished wall extended further at the north end as the territory of the Qin Dynasty in the north had expanded. The wall started at Lintao, i.e. Minxian County now, went eastward to now Guyuan of Ningxia Hui Autonomous Region, met the Wall of the Zhao State that ran eastward from Gaoque of the Great Bend of the Yellow River, went on and crossed the Yellow River, entered now north Shanxi and Hebei Province, ran the rest part of the Wall of the Zhao State and headed on along the north branch of Yanshan Mountain, passed by way of the five counties of Shangu, Yuyang, Right Beiping, West Liao and East Liao, and finally arrived at Jieshishan Mountain near the Datongjiang River of Pyongyang, Korea. This wall was longer than and lay slightly north to the Great Wall we see today, which was built by the Ming Dynasty about 1,500 years after.

Since the Liberation of China, the Chinese government has launched several investigations on the Great Wall of the Qin Dynasty along the route that passed by Minxian County of Gansu Province, Langyashan Couty, Yanshan Mountain, Chifeng of Hebei Province till entering into Jilin Province. The relics of the wall can still be seen scattered along the route. Some parts relatively well preserved are about five or six meters high, made of blocks of mud or stone of the local resources.

Recent Fundraising Success Raises $5 Billion of New Capital for Las Vegas Sands; Completing the Largest IPO in Gaming Industry History, Sands China Lt

Las Vegas Sands Corp. (NYSE: LVS) said today that as a result of its recent fundraising activities it has raised approximately $5 billion of combined debt and equity financing. Early Monday morning in Hong Kong, one of its subsidiaries, Sands China Ltd., was listed on the Stock Exchange of Hong Kong after completing an initial public offering (IPO) that raised a total of $3.1 billion -- which was comprised of the $2.5 billion listing and $600 million that was raised in a pre-IPO exchangeable bond financing transaction completed in September.

Last Friday, the company announced it has received commitments for $1.75 billion of project financing which, together with $500 million of IPO proceeds, will be used to restart and complete construction on the combined Shangri-La, Traders, and Sheraton resort complex located across from the company's Venetian Macao property on the Cotai Strip.

"With this public offering, in combination with our project financing efforts, we have already embarked on the initial stages of restarting the construction of our developments on the Cotai Strip and continuing the progress we have made in helping diversify Macau's economy and further establishing it as an international leisure and business destination," said Mr. Sheldon G. Adelson, chairman and chief executive officer of Las Vegas Sands. "On behalf of the Sands China Board of Directors, I would like to thank the Macau government for their support, as well as acknowledge with much appreciation our team of professionals, whose hard-work and dedication was limitless throughout this entire process."

The Hong Kong listing represents a sale of approximately 30 percent of Sands China Ltd's. Macau operations. It is the second largest Hong Kong-listed IPO year-to-date and the largest Hong Kong-listed spin-off since 2002.

Mr. Adelson said the completion of the offering, which could still bring an additional $250 million in proceeds should the 10 percent over-allotment of shares be exercised by the underwriters, will deliver positive benefits on many fronts, including its impact on Las Vegas Sands which will use a portion of the proceeds to further solidify its balance sheet and remove debt covenant concerns related to the company. With its portion of the IPO proceeds, in combination with its existing balance, LVS has approximately $5 billion of unrestricted cash currently on its balance sheet.

Mr. Adelson said he was also particularly pleased that the successful IPO means construction on the Cotai Strip -- his vision to replicate the Las Vegas Strip by building a critical mass of hotel rooms, restaurants, retail, entertainment, and convention and exhibition facilities in Macau -- can resume.

"Our ability to add more properties to the Cotai Strip will enhance visitation from all parts of the Asia-Pacific region and significantly increase the overall length-of-stay in Macau. The increased number of hotel rooms, from prominent hotel brands Shangri-La, Traders, Sheraton and St. Regis, will provide a greater variety of product and price options for consumers and give us additional capacity to further grow our meeting and convention business, among others. This is an important next step in Macau's ability to assert itself as an international tourist destination," said Mr. Adelson.

The construction of the 13.3 million square foot complex is approximately 65 percent completed and when work resumes, the development will be finished in phases. Phase one, which is expected to open in June 2011, will feature 3,700 hotel rooms and suites from the Shangri-La, Traders and Sheraton hotel brands, as well as a theater and additional retail, gaming and meeting/convention facilities. Phase two includes a 2,300-room Sheraton hotel tower, as well as other non-gaming amenities, and is expected to open in December 2011. Timing for completion of the St. Regis hotel and serviced-apartments will be announced at a later date.

Statements in this press release, which are not historical facts, are "forward-looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Las Vegas Sands Corp. assumes no obligation to update such information.

About Las Vegas Sands Corp.

Las Vegas Sands Corp. (NYSE: LVS) is the leading international developer of multi-use integrated resorts.

The Las Vegas, Nevada-based company owns and operates The Venetian Resort-Hotel-Casino, The Palazzo Resort-Hotel-Casino, and the Sands Expo and Convention Center in Las Vegas and the Sands Casino Resort Bethlehem(TM) in Eastern Pennsylvania. The company also owns and operates The Venetian Macao Resort-Hotel and the Sands Macao in the People's Republic of China (PRC) Special Administrative Region of Macau. In addition, LVS owns the Four Seasons Hotel Macao and is also developing the Marina Bay Sands(TM) integrated resort in Singapore.

LVS is also creating the Cotai Strip®, a master-planned development of resort-casino properties in Macau. At completion, the Cotai Strip will feature approximately 21,000 rooms from world-renowned hotel brands such as St. Regis, Sheraton, Shangri-La, Traders, Hilton, Conrad, Fairmont, Raffles, Holiday Inn, and InterContinental.

For more information, please visit www.lasvegassands.com.

Laser hair removal in Washington DC

Laser hair removal in Washington DC is quickly becoming one of the most popular cosmetic procedures for both men and women. If you are sick and tired of shaving, waxing, or tweezing unwanted hair on a daily or weekly basis, and are looking for a more permanent solution, we have exactly what you need. Many men and women are turning to the latest trend in hair removal - the laser. For those interested in our revolutionary non-invasive procedure, here are all the facts that you need to know before you go under the light. This procedure has been hyped around the globe as the permanent solution to unwanted hair removal and has shown great promise in delivering on that claim. However, before investing your valuable time and hard earned money into Laser Hair Removal treatments, we suggest you do a little research.
The effect of removing unwanted hair by laser was first discovered by dermatologists in the late 1960s. Dermatologists discovered that during treatment for skin conditions with lasers, the removal of hair in the treatment area happened to be a side effect and because of this, lasers have been studied extensively for years for their hair removal effectiveness. Many different types of lasers have since been approved by the FDA and now professional treatments for Laser Hair Removal in Washington DC are available to all interested residents.
Today, Laser Hair Removal in Washington DC is one of the fastest growing non-invasive cosmetic procedures on the market. Last year alone, over one million individuals underwent laser treatments around the globe. At our Washington DC clinic, all of the technicians are trained and certified on the latest laser hair removal equipment; this guarantees professional Laser Hair Removal treatments each and every time you visit. To learn more about our approach to this extraordinary treatment, come in for a free and confidential consultation. We’ll give you all the information you need and get you set up for a series of Laser Hair Removal treatments at our Washington DC clinic that will leave you with nothing but hair free skin!

Benchmark Lending



















Benchmarking
Process benchmarking: an application to lending products

Benchmarking techniques evolved from Xerox’s pioneering visit to Japan in the late 1970s. However, the application of the benchmarking concept to the banking industry did not take place until the late 1990s. Process benchmarking, in particular, is a tool that helps FIs to cut costs, improve productivity and integrate business processes. Although process benchmarking involves divulging what may be considered as sensitive or confidential information, forming de facto benchmarking partnerships with competitors allows participating institutions to compare cost and output advantages and disadvantages, when performing key processes involved in lending operations. This paper presents an application of process benchmarking to lending operations across Australia to highlight differences in costs involved in seemingly identical value chains.

Adverse Credit Remortgage

Adverse Credit Remortgage

An Adverse Credit Remortgage is the process of paying-off one mortgage, from the proceeds of a new mortgage (i.e. remortgage), using the same property as security, even if you have adverse credit difficulties. An adverse credit remortgage may be just the right solution for many people.
The benefits of an adverse credit remortgage include saving money by having a fixed rate remortgage or discount remortgage rate, debt consolidation on existing credit or raising cash for home improvements, a new car, business etc., or a combination of any of these benefits - even with adverse credit problems.
It is also very important to consider the implications of an adverse credit remortgage. Firstly, this will place your home at risk if you are unable to keep up repayments on your mortgage. Secondly, you should also be aware of the costs involved with a home remortgage, and you should weigh-up these costs, such as a property valuation on your home, legal costs and fees; against the overall costs if you were to take no action.

Source: www.startremodeling.com

Shangri-La Hotels and Resorts To Manage Two Hotels In Macau

Shangri-La Hotels and Resorts, Asia Pacific’s leading luxury hotel group, announces significant progress being made on the construction of the Shangri-La Hotel, Macau and the Traders Hotel, Macau, both opening in 2009.
The properties are being built by Las Vegas Sands Corp. and will be located on the Cotai Strip, a few minutes drive from the airport and 15-minute drive from downtown. Cotai, dubbed “Asia’s Las Vegas,” is a master planned development of hotel properties, casinos, entertainment attractions, retail, and meetings and conventions facilities, projected to become the world’s largest gaming and entertainment centre.
The 636-room Shangri-La hotel and 1,259-room Traders hotel will occupy a 40-floor building, designed by leading US and Asia architects and designers. A full range of facilities and services will cater to both convention and leisure travellers to the city. The tower will include a casino, performance hall and large retail shopping mall, none of which will be operated by Shangri-La.
“There has been tremendous growth in tourism to Macau in the last couple of years due to the destination’s spectacular development and increasing appeal to mainland Chinese and international travellers,” said Madhu Rao, managing director and chief executive officer of Shangri-La Hotels and Resorts. “Given the strong loyalty to the Shangri-La brand in the region, and our growing worldwide profile, we see great potential for our new Macau properties.”
The deluxe Shangri-La hotel will feature spacious guestrooms averaging 54 square metres with views of the Cotai Strip. Several Horizon Club floors will offer exclusive privileges of dedicated concierge service, express check-in and check-out, complimentary meeting space, and lounge for complimentary cocktails and refreshments.
Shangri-La’s acclaimed, signature spa brand -- CHI, The Spa at Shangri-La – will feature a fusion of Chinese and Himalayan healing therapies inspired by the Shangri-La legend. Treatments will take place in spacious spa suites, designed to create a “spa within a spa” atmosphere. Recreational facilities, including a health club and outdoor swimming pools, will also be available.
Dining options will include a Chinese feature restaurant and an all-day cafe serving Macanese and Japanese cuisines.
The property will offer significant meeting and function space, including a 6,000-square-metre grand ballroom, junior ballroom and function rooms. The hotel will also have a full service business centre.

Traders Hotel, Macau, catering to the mid-market travel segment, will provide a comprehensive range of facilities, and swift and friendly service at competitive rates. Guestrooms will average 40 square metres in size. Traders Club floors will offer concierge service, express check-in and check-out, complimentary meeting space, and lounge for complimentary cocktails and refreshments. The bustling lobby will be the true “heart of the hotel” complete with all-day cafe.
“We are partnering with Shangri-La due to its long-standing reputation for delivering superlative service,” said William P. Weidner, president and chief operating officer of Las Vegas Sands Corp. “Establishing both Shangri-La and Traders hotels strategically strengthens the market mix of the Cotai Strip™, destined to become ‘Asia’s Las Vegas™.’”

Hong Kong-based Shangri-La Hotels and Resorts, Asia Pacific’s leading luxury hotel group, currently owns and/or manages 60 hotels under the deluxe Shangri-La and mid-market Traders brands, with a rooms inventory of over 28,000. The group has over 50 projects under development in Austria, Canada, mainland China, France, India, Japan, Macau, Maldives, Philippines, Qatar, Seychelles, Thailand, United Kingdom and the United States. For more information and reservations, please contact a travel professional or access the website at www.shangri-la.com.

Las Vegas Sands Corp. (NYSE: LVS) is one of the leading international developers of multi-use integrated resorts.

100 home equity loan


Be 100 Percent Sure How To Access The Equity In Your HomeYou've probably heard about home equity loans, but what about a 100 percent home equity loan? Wells Fargo Financial does not offer 100% or 125% home equity loans. The purpose of this page is to provide information and education on a financial concept.
It's one way to free up resources from your home. Another way is to simply refinance your current mortgage. Either route you choose, you may be able to tap into the equity that you've accumulated.
How A 100 Percent Home Equity Loan WorksTo begin, all lenders establish a maximum loan-to-value (LTV) ratio (i.e. all outstanding loan amounts divided by the home's appraised value). For example, a lender that establishes a maximum LTV of 80 percent would allow $80,000 to be borrowed if the appraised home value is $100,000 (80,000/100,00 = 80% LTV).
With a 100 percent home equity loan, you actually borrow 100 percent of your home's value (e.g. $100,000/$100,000 = 100% LTV).
Under the above example with $80,000 in existing loan amounts, the borrower could access $20,000 of equity; the difference between the appraised home value and the amount of the outstanding loans.
Simply stated, a 100 percent home equity loan means you open an additional loan or line of credit accessing your home's equity. The home equity loan or credit line combined with your current mortgage balance totals 100 percent of your home's value, and you end up with more than one loan.
For example, if your home's value totals $100,000 and your loan balances equal $80,000, you could open a $20,000 home equity loan or line of credit. See Chart 1