BorgWarner Inc. is an American worldwide automotive industry components and parts supplier. It is known for its powertrain products, which include manual and automatic transmissions and transmission components such as electro-hydraulic control components, transmission control units, friction materials, one-way clutches, engine valve timing system components, along with four-wheel drive system components; the company has 60 manufacturing facilities across 18 countries within North and South America and Asia. It provides drivetrain components to all three U. S. automakers, as well as a variety of European and Asian original equipment manufacturer customers. BorgWarner has diversified into several automotive-related markets, including ignition interlock technology for preventing impaired operation of vehicles. BorgWarner was known for its ownership of the Norge appliance company, as well as York International; the original Borg-Warner Corporation was formed in 1928 by the merger of Warner Gear, which itself was founded by Thomas Warner in 1901, Borg & Beck founded by Charles Borg and Marshall Beck in 1903, Marvel Schelber Carburetor Co founded in 1905 by George Schebler and the Mechanics Universal Joint Co.
The company was best known as the supplier of Warner Gear overdrive units for cars of the 1930s to the 1970s, as the developer of Studebaker's three-speed automatic transmission introduced in 1950, along with'Holley' brand Borg & Beck carburetors. Ford took up development of the transmission in Studebaker's place in 1955; the early Ford automatics are derivatives of the Borg Warner. The Warner Gear name was still being used for the marine and industrial transmissions supplied by Borg Warner under the trade name'Velvet Drive' into the 1980s. The'Velvet Drive' production was transferred to Regal-Beloit Corporation in 1995, who trade as "Velvet Drive Transmissions". In the 21st century, the company changed the styling of its name from Borg-Warner to BorgWarner; the company is notable for co-developing a variable-geometry turbocharger with Porsche, the Variable Turbine Geometry system, used in the 2007 911 Turbo. BorgWarner claims. From 2002, Peugeot and Renault became major customers for the company's turbochargers with the Volkswagen Group on-board since 1999, choosing to use the BorgWarner K-Series turbochargers for their then-new 1.8T power plant.
BorgWarner supplies hydraulic modules for dual-clutch transmission systems. With their DualTronic technology, BorgWarner has gained contracts with European automakers that want to use dual clutch transmissions; the German automotive concern Volkswagen Group is BorgWarner's largest customer, Europe is their largest market. Light vehicles account for 72% of BorgWarner's total sales; the company's world headquarters is in Michigan. Robert S. Ingersoll served as the company's CEO and Chairman. BorgWarner's Powertrain Technical Center is based in Auburn Hills; the BorgWarner Indianapolis 500 Trophy is presented to the winner of the annual Indianapolis 500 auto racing event. It was announced by the Izod Indycar Series that BorgWarner has been selected as the official supplier for the turbochargers to be used in the 2.2L turbocharged engine formula for the series which took effect in 2012. On October 2, 2006, BorgWarner announced the purchase of the European Transmission and Engine Controls product lines from Eaton Corporation.
In 2002, BorgWarner Inc. was split into two key business divisions: BorgWarner Engine Group: This is responsible for the research and development of the company's internal combustion engine-related components, along with operational efficiency, including fuel consumption and performance. Key products are other related engine operation components. BorgWarner Drivetrain Group: The fundamental core of this division is its automotive transmission systems; these include manual transmissions, automatic transmissions, the critically acclaimed DualTronic dual clutch transmission, more known as Volkswagen Group's Direct-Shift Gearbox. Other responsibilities are its four-wheel drive systems and transmission electronic control units. BorgWarner Model DG three-speed automatic transmission BorgWarner Model 35 aluminum-cased three-speed automatic transmission, BorgWarner Model 45 four-speed automatic transmission BorgWarner Model 55 three-speed automatic transmission BorgWarner T-56 six-speed manual transmission BorgWarner T-84 three-speed manual transmission BorgWarner T-85 three-speed manual transmission BorgWarner T-86 three-speed manual transmission BorgWarner T-87 three-speed manual transmission Borg-Warner T-90 three-speed manual transmission BorgWarner T-92 three-speed manual transmission BorgWarner T-96 three-speed manual transmission BorgWarner T-98 four-speed manual transmission BorgWarner T-10 four-speed manual transmission BorgWarner T-14 three-speed manual transmission BorgWarner T-15 three-speed manual transmission BorgWarner T-18 four-speed manual transmission BorgWarner T-19 four-speed manual transmission Borgwarner ST-10 four speed manual transmission BorgWarner T-150 three-speed manual transmission BorgWarner T-176/177/178 four-speed manual transmission BorgWarner HR-1 four-s
Refco was a New York-based financial services company known as a broker of commodities and futures contracts. It was founded in 1969 by Raymond Earl Friedman as Co.. Prior to its collapse in October, 2005, the firm had over $4 billion in 200,000 customer accounts, it was the largest broker on the Chicago Mercantile Exchange; the firm's balance sheet at the time of the collapse showed about $75 billion in assets and a equal amount in liabilities. Though these filings have since been disowned by the company, they are roughly accurate in showing the firm's level of leverage. Refco became a public company on August 11, 2005 with the sale of 26.5 million shares to the public at $22. It closed the day over 25 % higher than that. Investors had been attracted to Refco's history of profit growth—it had reported 33% average annual gains in earnings over the four years prior to its initial public offering. Refco Inc. entered crisis on Monday, October 10, 2005, when it announced that its chief executive officer and chairman, Phillip R. Bennett had hidden $430 million in bad debts from the company's auditors and investors, had agreed to take a leave of absence.
Refco said that through an internal review over the preceding weekend it discovered a receivable owed to the company by an unnamed entity that turned out to be controlled by Mr. Bennett, in the amount of US$430 million. Bennett had been buying bad debts from Refco in order to prevent the company from needing to write them off, was paying for the bad loans with money borrowed by Refco itself. Between 2002 and 2005, he arranged at the end of every quarter for a Refco subsidiary to lend money to a hedge fund called Liberty Corner Capital Strategy, which lent the money to Refco Group Holdings, an independent offshore company secretly owned by Phillip Bennett with no legal or official connection to Refco. Bennett's company paid the money back to Refco, leaving Liberty as the apparent borrower when financial statements were prepared, it is not yet clear. On October 20, they announced plans to sue Refco. In April 2006, papers filed by creditors of Refco seemed to show that Bennett had run a similar scam going back at least to 2000, using Bawag P.
S. K. Group in the place of Liberty Corner Capital Strategy; the law requires that such financial connections between corporation and its own top officers be shown as what is known as a related party transaction in various financial statements. As a result, Refco said, "its financial statements, as of, for the periods ended, Feb. 28, 2002, Feb. 28, 2003, Feb. 28, 2004, Feb. 28, 2005, May 31, 2005, taken as a whole, for each of Refco Inc. Refco Group Ltd. LLC and Refco Finance Inc. should no longer be relied upon." This announcement triggered a number of investigations, on October 12 Bennett was arrested and charged with one count of securities fraud for using U. S. mail, interstate commerce, securities exchanges to lie to investors. His lawyer said. On October 19, trading of Refco's shares was halted on the New York Stock Exchange, which delisted the company. Before the halt, Refco shares were trading for more than $28 per share, as of October 19, they had dropped to $0.80 per share. Refco, Inc. filed for Chapter 11 for a number of its businesses, to seek protection from its creditors on Monday, October 17, 2005.
At the time, it declared assets of around $49 billion, which would have made it the fourth largest bankruptcy filing in American history. However, the company subsequently submitted a revised document, claiming it had $16.5 billion in assets and $16.8 billion in liabilities. Refco announced a tentative agreement to sell its regulated futures and commodities business, not covered by the bankruptcy filing, to a group led by J. C. Flowers & Co. for about $768 million. However, other bidders soon emerged, including Interactive Brokers and Dubai Investments, the investment division of the emirate of Dubai; these offers were for a time rebuffed, as the Flowers-led group had a right to a break-up fee if Refco had sold this business to anyone else. Carlos Abadi, involved in the Dubai bid, said that the Dubai-led group offered $1 billion for all of Refco and was rejected. "However, the bankruptcy judge in charge of the case deemed the break-up fee unjustified, the Flowers group withdrew its bid. The business was instead sold to Man Financial on November 10.
Man Financial kept the majority of the Refco futures businesses after selling Refco Overseas Ltd to Marathon Asset Management who relaunched the business as Marex Financial Limited. Though of much smaller size, the regulatory impact of the scandal will be larger than for any other corporate failure except for Enron. Refco had sold shares to the public in a public offering only two months before revealing the apparent fraud, their auditors, Grant Thornton )and the investment banks that handled the IPO, Credit Suisse First Boston, Goldman Sachs, Bank of America Corp. all completed due diligence on the company, all missed the CEO's hiding $430 million in bad debts. Their largest private investor was Thomas H. Lee Partners, a regarded buyout fund, the reputation of its managers has been sullied. On October 27, 2005, shareholders of Refco filed class action lawsuits against Refco, Thomas H. Lee Partners, Grant Thornton, Credit Suisse First Boston, Goldman Sachs. On March 2, 2
Ray's Hell Burger was a hamburger restaurant in Arlington, part of a group of restaurants in the Washington metropolitan area under the "Ray's" name owned by restaurateur Michael Landrum. In 2002, Michael Landrum opened the restaurant Ray's the Steaks in Arlington, after experience in restaurants in Europe and working various front-of-the-house jobs at Washington, D. C. restaurants including Restaurant Nora, The Capital Grille, 701 restaurant, Morton's The Steakhouse. The name "Ray" was a nickname given to Landrum by a former girlfriend, Ray’s the Steaks gained notoriety as a no-frills steakhouse with affordable prices. In 2007, Landrum was named Washingtonian magazine's Restaurateur of the Year. In 2006, Landrum opened Ray's the Classics in Silver Spring, serving steaks and an expanded menu from a kitchen led by Chef Michael Hartzer, who came from Georgetown's Michel Richard Citronelle. In 2013, Ray's the Classics was sold to two of its employees; the restaurant closed in 2018. Landrum opened Ray’s the Steaks at East River in Washington, D.
C. but it closed in 2012. Ray's the Steaks closed after 17 years in business. Landrum opened Ray's Hell Burger in Arlington on July 1, 2008, serving a $7 burger made with prime beef from Ray's the Steaks. Burger toppings were unique, included seared foie gras, roasted bone marrow, double-cream brie. United States president Barack Obama and vice-president Joe Biden ate at Ray's Hell Burger in May 2009; that first visit caused such an increase in business that it forced Landrum to expand the restaurant at an adjacent location. Obama took Russian president Dmitry Medvedev to Ray's Hell Burger in June 2010. After a landlord dispute, Ray's Hell-Burger and Hell-Burger Too closed in January 2013. Ray’s Hell-Burger reopened in a different location across the street in September 2014; this location closed on May 13, 2017. A Ray's Hell Burger opened in Mount Vernon Triangle in Washington, D. C. in 2015, but this location, the last remaining "Ray's" restaurant, closed in June 2019
Hilda Gadea Acosta was a Peruvian economist, Communist leader, author. She was Che Guevara's first wife. Gadea Acosta was Secretary of the Economy of the Executive National Committee for Alianza Popular Revolucionaria Americana, her activities in Peru led to her exile in 1948. She first met Guevara in Guatemala in December 1953. Gadea and Guevara moved to Mexico due to pressure from their politics, she introduced Guevara to several Cuban rebels. Gadea married Guevara in Mexico after learning she was pregnant; the marriage ended in a divorce in May 1959. They had a daughter named Hilda Beatriz "Hildita" Guevara Gadea. Following the Cuban revolution, in which Guevara fought, Gadea came to Cuba, to be confronted with the announcement by Guevara that he had fallen in love with another woman, Aleida March, requested a divorce. Gadea remained loyal to Guevara's political movement, she wrote the memoir My Life With Che. Gabriel San Roman, a writer for Z Magazine, began writing a play about Gadea
Romsdalen is a valley in the western part of Norway. The 60-kilometre long valley runs through Rauma Municipality in Møre og Romsdal county and Lesja Municipality in Innlandet county, it is the valley of the Rauma river, from Old Norse word Raumsdalr. The traditional district of Romsdal, which makes up about one-third of Møre og Romsdal county, is named for the valley of Romsdalen; the main road E136 and the Rauma line runs along the valley floor. Mannen is an unstable rock above the valley. Mannen is expected to someday slide into the valley floor and block the river, there could be devastating flood downstream if the river breaks through the dam created by the rockslide. Around Remmem and Flatmark the valley is littered with huge rocks or boulders that have fallen from the high mountains surrounding the valley. Trolltindene and other summits on the western edge are protected as part of Reinheimen National Park. Alpine summits around Isterdalen and Trollstigen are within the national park within Trollstigen protected landscape area.
The valley begins at the lake Lesjaskogsvatnet and it follows the Rauma River to the northwest to the town of Åndalsnes, where the river empties into the inner part of the great Romsdal Fjord. The Rauma Line and European Route E136 highway both run through the valley; the Romsdalsalpene mountains surround the river and the valley, including the mountains Store Trolltind, Store Venjetinden and Romsdalshornet. Romsdalen is joined by the Isterdalen valley with the Istra river located a few kilometers upstream from Åndalsnes and the two rivers create terraces of sand and gravel on a deeper layer of clay. Romsdal Museum based in the town of Molde is one of the largest and most extensive folk museums in Norway; the Romsdalen Folk Museum is an outdoor museum which aspects of life in the Romsdalen valley from the 14th to the 20th century. Notable summits around the main valley: Romsdalshornet, at 1,550 metres Trolltindene including Store Trolltind, at 1,788 metres Trollveggen big wall Trollryggen, at 1,740 metres Breitind, at 1,797 metres Kalskråtinden, at 1,803 metres Romsdalseggen Tua Rangåhøgda Several of Norway's and the world's tallest waterfalls plunge into the main valley.
Vermafossen, at 380 metres in height Døntefossen, at 700 metres in height with the longest drop at 200 metres Mongefossen, at 773 metres in height with the longest drop at 300 metres Ølmåafossen, at 720 metres in heightIsterdalen valley: Stigfossen, at 239 metres in height with the longest drop at 122 metres Trollfossen, at 175 metres in height The Rauma Line and European route E136 both run through the valley. The Rauma Line is the only railway line in Møre og Romsdal county and from 1924 until the 1970s, it was the key transport corridor between the county and Eastern Norway; the E136 highway is the only road between east and west that does not run through a mountain pass and connects the county to eastern Norway's road network. The road through Romsdalen was an important access to the ocean for farmers and miners in the eastern uplands. Since at least year 1500 the annual market near Åndalsnes was the largest market place outside Bergen and Trondheim; the iron works at Lesjaverk transported iron products to the port at Veblungsnes.
The road was only for riding and walking. Around 1844 it was possible to drive the entire valley; this was at the time one of only two drivable road connections between west. When the telegraph was introduced in Norway in the 1860s, the line between East Norway and Møre og Romsdal was set up through the valley, as one of only two direct lines between east and west. Norwegian County Road 63 through Trollstigen mountain pass to Valldal was completed in 1936, with connections to the village of Geiranger; the Old Norse form of the name was Raumsdalr. The first element is the genitive case of a name Raumr the old name of Romsdal Fjord, again derived from the name of the river Rauma; the second part of the word is dalr which means "dale" or "valley". Thus the name means "The Dale of Rauma". Møre og Romsdal county is named after the Romsdal district, which in turn got its name from the valley; the county was called Romsdals amt. Tourism and angling in the Rauma river became an important business during the 19th century, wealthy Englishmen were the most important visitors.
General William Bromley-Davenbort purchased Fiva farm in 1849 and the 12 best kilometers of the river. Norway's first golf course was laid out in 1905 at Hølgenes hotel by the English owner; the Romsdalen valley and the Romsdalen Alps are one of the most important climbing venues in Norway and Northern Europe. The steep and demanding Trollveggen is a classic in Norwegian rock face climbing. William Cecil Slingsby visited Romsdalen in 1875 and later. Arne Randers Heen was a local climber with several first ascents; the fictional detective Harry Hole is mentioned as being from Åndalsnes in the Romsdalen valley, while the series' writer Jo Nesbø is from Molde in the same region. The Bat, first book in the Harry Hole series, includes a passage of reminiscences, which might be based on the writer's own experiences: " told him about Åndalsnes, a tiny settlement up in Romsdalen Valley, surrounded by high mountains which were so beautiful that his mother had always told him that, where God had started when He was creating the world, that He had spent so long on Romsdalen that the rest of the world had to be done post-haste to be finished by Sunday.
Vice-Admiral of England Sir Thomas Spert was a mariner who reached the rank of vice admiral in service to King Henry VIII of England. He was sailing Henry Grace a Dieu, he served as the first Master of Trinity House, the private corporation for maritime affairs in London. Spert Island off the coast of Antarctica is named for him. Thomas Pert or Spert was born in England, he entered the service of Henry VII as carrying dispatches between England and Spain. Spert served, evidently with credit, in the navy of Henry VIII during the Anglo-French War of 1512-14. In 1512-15 he was master of one of the most important warships in the Crown's fleet. On 10 November 1514, Spert was granted an annuity of £20, confirmed in January 1516, he next was assigned as master to the Henry Grace a Dieu, the largest vessel constructed up to in England. On 10 July 1517, Spert was granted the office of ballasting ships in the Thames River, which office he was to hold'during pleasure' at a fee of £10 a year. Historian James A. Williamson in his work of 1913 thought this fact aided an argument against Richard Eden's statement that Spert's misconduct had spoiled the success of the 1516-1517 voyage of discovery undertaken with Sebastian Cabot.
Williamson said that the ballasting office provided opportunity for profit, would not have been granted to a man who had disgraced himself. A document in the Public Record Office is found in a manuscript book showing the issues of various stores to the masters of the king's ships. Entries detail Spert's presence on the Henry Grace a Dieu on 7 April and 5 July 1516, on 28 April and 17 September 1517. Together with the grant made to him on 10 July 1517, Williamson argued that these appear to be conclusive evidence that Spert was not traveling with Sebastian Cabot in a voyage of discovery in 1516-1517 to the southern coast of North America. What is known of the remainder of Spert's career shows that he continued in high favour with the king, he served in the war of 1522-5 and was consulted by the admiral as to the best way of cutting out some Scottish privateers in Boulogne harbour. His knighthood has been disputed by historians, but Williamson notes two official documents that refer to him as Sir Thomas Spert.
Spert made his will 28 November 1541, naming his wife Mary as executrix, died at Stepney in December. According to Baldwin, his monument at St Dunstan and All Saints, Stepney, is in error in stating that he died on 8 September 1541, he left his pasturage in Blackwall to his widow. He made bequests to his daughter and to his cousin Margaret Spert, married to'the famous Guinea seaman, John Lok'. Spert married, he appears to have had no children by either marriage. He married thirdly the daughter of John Fabian and Anne Waldegrave, they had two children. Their son Richard Spert married Grissell Salkell of Wiltshire, their daughter Anne Spert married firstly Thomas Brook, secondly John Skott. Spert Island off the coast of Antarctica is named for him. Baldwin, R. C. D.. "Spert, Sir Thomas". Oxford Dictionary of National Biography. Oxford University Press. Doi:10.1093/ref:odnb/52009. Sir Thomas Spert - People and places, Port Cities James A. Williamson, Maritime Enterprise 1485-1558, Oxford: Clarendon Press, 1913, full text online at Internet Archive, via University of Toronto