Tepoztlan Lounge / Cadaval & Solà-Morales

first_imgShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/293132/tepoztlan-lounge-cadaval-sola-morales Clipboard Photographs:  Diego BerruecosText description provided by the architects. Tepoztlan, is a small town nestled between rocky cliffs located to the south of Mexico City, 50 kilometers away from the vibrant metropolis.  With its well preserved historic center and wild countryside, Tepoztlan is a town of legends and deep cultural roots that has been appreciated by writers, poets, artists and musicians over many decades, turning it into their hometown or weekend retreat. Located in this incredible context and surrounded by an astonishing landscape, the Tepoztlan Lounge is the first building completed of a larger project that also includes a series of bungalows of different sizes and designs, which can be rented by years, months or days. The lounge is set to be a central communal space for leisure in nature, and is located in the perimeter of an incredible lawn; the idiosyncrasy of the project relies on enabling the experience of the carefully manicured lawn while promoting the experience of the wild nature existing in the boundaries of this central space. The project is a negotiation between interior and exterior, a construction of an in-between condition, an inhabitable threshold, which becomes the main space of the project; the limits between the open and the content space merge to produce a single architectural entity. Save this picture!The design establishes three separate living quarters designed in accordance to the 3 activities planned; each of them is a set space defined by its use, but also by a very clear and simple architectural container: the first holds an open bar with a kitchenette, together with a couple of restrooms and dressing rooms; the second is a play area for children that can also be used as a reading room when temperatures drop at night; and finally the largest container is the living area, an enclosed, tempered and comfortable space for conversation, TV, etcetera.  But it is the desire to give continuity between these three separate areas where the project is empowered and becomes meaningful; a continuous space, in full contact with the nature but protected from its inclemency is set up not only to expand the enclosed uses, but also to allow new activities to arise.Save this picture!And it is through the definition of this central space, through the definition of its shape, that the contiguous courtyards are defined; those are as essential to the project as it is the built architecture, and allows constructing as a whole, single spatial experience. At the same time that the three built containers give continuity to the central space by mans of their use and space, the adjacent patios qualify it, while providing diversity and idiosyncrasy to open space. The design of the swimming pool is part of this same intervention, and responds to the desire to characterize the spaces; its formalization necessarily resonates the layout of the lounge, while incorporating to its nature the possibility of a multiplicity of ways of using water, and plunging on it. Save this picture!The building is located as a plinth valuing the views of the mountains. The building wants to be respectful to the existing context, and understands that the vegetation and life at open air are the real protagonist. Two impressive trees that are in place are incorporated within the layout of the lounge, as if they were part of the program itself. The Tepoztlan Lounge is constructed in concrete not just for being a inexpensive and labor intensive material in Mexico and to minimize its maintenance, but also to expose its structural simplicity and neutrality towards the astonishing nature.Save this picture!Project gallerySee allShow lessHotel Tierra Patagonia / Cazu Zegers ArquitecturaSelected ProjectsMOINOPOLIS Issue #2 Call for Proposals: Ephemerality and ArchitectureArticles Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/293132/tepoztlan-lounge-cadaval-sola-morales Clipboard Projects Tepoztlan Lounge / Cadaval & Solà-Morales Area:  250 m² Year Completion year of this architecture project Save this picture!+ 37 Share Tepoztlan Lounge / Cadaval & Solà-MoralesSave this projectSaveTepoztlan Lounge / Cadaval & Solà-Morales CopyHouses•Tepoztlán, Mexico “COPY” Architects: Cadaval & Solà-Morales Area Area of this architecture project Houses CopyAbout this officeCadaval & Solà-MoralesOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesTepoztlánHousesLeisureMexicoPublished on November 13, 2012Cite: “Tepoztlan Lounge / Cadaval & Solà-Morales” 13 Nov 2012. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogLouvers / ShuttersTechnowoodSunshade SystemsRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisCopper Alloy: Nordic BrassWindowsVitrocsaMinimalist Window – GuillotineGlassLAMILUXGlass Roof PR60 PassivhausSinksBradley Corporation USASinks – Verge LVG-SeriesSealantsSikaConstruction Solutions in Stavros FoundationShower TraysAcquabellaShower Tray – Focus BetonPatios / TerracesFranken-SchotterPatios and TerracesCeramicsTerrealTerracotta cladding in Le TrèfleSkylightsFAKROWooden pivot roof windows FYP-V proSkySynthetics / AsphaltFirestone Building ProductsRoofing System – RubberGard EPDMMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream 2012 Photographs ArchDaily Mexico “COPY” Year: last_img read more

FHFA Shares Fannie, Freddie Stress Tests Results

first_img Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Shares Fannie, Freddie Stress Tests Results The Best Markets For Residential Property Investors 2 days ago  Print This Post The provision for credit losses would be the largest contributing factor to losses at Fannie Mae and Freddie Mac under severely adverse economic conditions. This was revealed in the results of a stress test conducted by The Federal Housing Finance Agency (FHFA) under the Dodd-Frank Act.According to the FHFA report, apart from provisions for credit losses, the global market shock impact on trading securities and available-for-sale securities would be the largest contributing factor for losses at the two government-sponsored enterprises (GSEs) under FHFA’s conservatorship.The stress test results also revealed that comprehensive losses decreased in the stress test for 2019 compared to the one conducted in 2018. The decline, according to the FHFA, was “mostly driven by the decrease in provision for credit losses as a result of the less severe decline in home prices” included in the 2019 scenario and “the improvement in the credit profile of the GSEs’ books of business.”The 2o19 stress test scenario was based on a severe global recession accompanied by stressed commercial real estate and corporate debt markets. FHFA said that the scenario was not a forecast, but a hypothetical future economic environment that was designed to “assess the strength of the Enterprises and other financial institutions and their resilience to unfavorable market conditions.” Additionally, the report said that the planning horizon for the implementation of the 2019 stress test was over a period of nine quarters from December 31, 2018, to March 31, 2021.Additionally, compared to last year’s stress test scenario, the 2019 severely adverse scenario includes a more severe recession and a larger increase in the unemployment rate. This year’s severely adverse scenario, also includes a decline in the 10-year Treasury yield, a factor that had remained unchanged in the scenario last year resulting in a much steeper yield curve and reflecting a global aversion to long-term fixed-income assets. This results in declines in certain asset prices, including stocks, which are less severe in this cycle versus last year. The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Credit Losses Dodd-Frank Act Fannie Mae FHFA Freddie Mac in Daily Dose, Featured, News, Secondary Market Credit Losses Dodd-Frank Act Fannie Mae FHFA Freddie Mac 2019-08-16 Radhika Ojhacenter_img Previous: Gateway First Bank Appoints Chief Mortgage Operations Officer Next: HUD Tackles the Role of Algorithms in Fair Housing Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 16, 2019 1,958 Views FHFA Shares Fannie, Freddie Stress Tests Results Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Sign up for DS News Daily Subscribelast_img read more

NBA All-Star weekend: Why Warriors exec’s attendance has deeper meaning

first_imgKlay Thompson subscribes. You can too for just 11 cents a day for 11 months + receive a free Warriors Championship book. Sign me up!CHARLOTTE, N.C. – Rick Welts, the Warriors’ president/chief operating officer and the NBA’s most prominent openly gay executive, attended NBA All-Star weekend after having initial reservations because of North Carolina’s anti-LGBTQ law.USA Today first reported the news.It is not clear if Welts will attend Sunday’s All-Star game. But he was here for All-Star …last_img

George Airport upgrade complete

first_img28 September 2007Airports Company South Africa (Acsa) this month completed its R42.5-million upgrade of George Airport on the Western Cape’s Garden Route, ensuring that the facility will meet requirements for the 2010 Fifa World Cup and beyond.A company statement shows that annual passenger traffic at the airport, which serves the scenic southern part of the country, is forecast to reach almost one million in 2012 from projections of almost 670 000 in the current financial year.The design and planning of the upgrade to the airport began in September 2004 and work was carried out in three phases.Phase one entailed an internal upgrade creating space for more check-in counters and airline operators, phase two comprised civil earthworks, and phase three involved the actual building upgrade and additions to the existing terminal.The company states that it has made the terminal more aesthetically appealing by using darker shades that match the natural sand colour common to the George vicinity and also by using tiling featuring cultural Ndebele art on the borders between the floors and walls.Acsa managing director Monhla Hlala explained that the civil earthworks included the construction of a new 206-bay rental car parking area and a new staff parking area with 105 bays, both of which would free up more existing parking space for the public.In addition, a new freestanding car rental building was constructed.She said that black economic empowerment participation in the project amounted to 34%, demonstrating Acsa’s commitment to bring more previously disadvantaged individuals into the mainstream economy.“Over and above, meeting the infrastructure needs for 2010, Acsa always strives to ensure convenience and comfort for those using its facilities,” she said. “The new developments at the George Airport are in that spirit and in accordance with our long-term planning agenda.”George Airport was built in 1977 as an exact replica of Keetmanshoop Airport in Namibia. Apart from playing an important role in the region’s tourist economy, it also acts as a distribution hub for cargo such as flowers, fish, oysters, herbs and ferns.Carriers operating from the airport include South African Express, South African Airlink, Nationwide, Kulula.com and 1time, while other traffic includes numerous private jets, general aviation and flight training schools.With passenger traffic to South Africa’s main airports expected to be in excess of 45-million passengers a year by 2012, up from the current figure of almost 33-million, Acsa plans to spend R19.3-billion on infrastructural developments at its network of 10 airports over the next five years.SAinfo reporter Want to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

‘Safety videos’ replace ads in air battle for hearts and minds

first_imgThe once stodgy chore of regulatory compliance that no-one watched, airline safety videos, have been re-invented as the carriers vie for customers’ loyalty and ‘bums on seats’.The explosion of new media platforms like Youtube, Facebook and Twitter means airlines can get the attention of millions of wannabe travellers for a fraction of what it used to cost provided they can devise “content” that interests them. In the past decade, but especially in the past three years, the records have been tumbling with video marketing analyst Tubularlabs.com estimating there were around 50 million viewings of airline safety videos on social media in the 2014-15 year – an 80 per cent leap on the year before. In October 2013, the fledgling Virgin America – the product of a difficult birth in 2007 and only just startling to break even after years of losses and still without the critical mass to launch an expensive, conventional TV advertising campaign – released what many analysts believed would be a hit that would take years to surpass.The all-singing-all-dancing showbiz video tagged #VXsafetydance smashed the airline industry’s record for “social media engagement”, racking up more than 11 million views on Youtube over the next two years.But the analysts underestimated Air New Zealand – the “small airline at the bottom of the world”, in the words of its marketing guru Mike Tod – which has been working on new ways of talking to consumers for around seven years.“We have to do things differently to get noticed and talked about,” Tod said in an interview on the Linked In network. He estimates that Air NZ videos have already been seen by close to 50 million people.Air NZ’s 2009 Bare Essentials, a video notionally about safety in which pilots and cabin crew appeared “nude” covered only in body paint and stockings, was edgy and risqué, going on to attract 7.5 million sets of eyeballs on Youtube.But in 2012 the first of its safety videos inspired by the Hobbit movies, An Unexpected Briefing, was seen by 12.5 million people.That led to the second in the series, 2014’s modestly titled The Most Epic Safety Video Ever Made , which still holds the Youtube record for the “genre” with 15.3 million views.However, with safety videos becoming the leading form of marketing “content” the industry is aiming at its customers, other airlines are now showing just what can be achieved.In the run-up to Christmas 2015, Qatar Airways, released its first safety video featuring the stars of one of the world’s most glamorous football teams, FC Barcelona, as part of its global “branding” campaign, Going Places Together. The video has become an instant hit.Instead of taking two years to hit double-figure million views on Youtube like Virgin America’s #VXsafetydance, it smashed that barrier in just a month, racking up 11.2 million views.Safety videos are just one component of the new world of social media marketing that technology has enabled in the past decade, but those at the coalface swear by their ability to woo new customers.“What we have learned with recent videos like our final Hobbit instalment [The Most Epic Safety Video …] and the Sports Illustrated collaboration [Safety In Paradise] is that these pieces of content can put bums on seats,” says Air NZ’s Mike Tod. “We saw a significant spike in sales to the Cook Islands immediately following the launch of the Sports Illustrated collaboration and we had an online sales day record in the US when the latest Hobbit safety video launched,” he says. “Interestingly, in the period following the launch of the Bear Grylls-fronted video  shot on the Routeburn track in the [NZ] South Island, the Department of Conservation saw the number of people using the Great Walks increase by more than 10%.”Air NZ is already plotting the next in what has become an annual safety video – “with some household names who we would love to have on board”, according to Tod – which is anything but a bureaucratic regulatory compliance, as the NZ regulator has allowed the airline creative licence as long as the underlying safety message gets through. In the meantime, it is devising new video challenges to connect with its customers like the tear-jerking Santa Stop Here released before Christmas 2015.last_img read more

Money Monday

first_imgBy Barbara O’NeillWhat advice should Personal Finance Management Program (PFMP) staff provide about the Savings Deposit Program (SDP)?Families facing a deployment may contribute savings to a SDP plan.The Savings Deposit Program (SDP) is a special savings program for deployed service members. It guarantees 10% annual interest during a deployment and for up to three months after they return. Service members should consult with Personal Finance Management Program (PFMP) staff to find out what information is required to sign up because they can’t officially enroll in the program until they are actually deployed.Also, it is a good idea to set up an account and start saving money before the deployment so there is an account standing by to transfer future SDP savings from during the period of deployment. PFMP staff should encourage service members to take advantage of the SDP because a guaranteed 10% return is an exceptional rate of return compared to the very low current interest rates offered on civilian savings accounts.Browse more military personal finance webinars and blog posts by experts.Follow Dr. O’Neill on Twitter!This post was published on the Military Families Learning Network Blog on February 25, 2013.last_img read more

Rookie Ravena hopes to bring leadership at NLEX

first_imgKiefer Ravena with his new team NLEX after being selected second overall pick in the 2017 PBA Draft. Tristan Tamayo/INQUIRER.netRight from the moment his name was called in the 2017 PBA Rookie Draft, Kiefer Ravena already knew what NLEX is going to expect from him.“Hopefully, even though I’m a rookie, I could bring the leadership,” Ravena, who was selected as the second overall pick, said.ADVERTISEMENT Read Next CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Brace for potentially devastating typhoon approaching PH – NDRRMC Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games View comments MOST READ Japan ex-PM Nakasone who boosted ties with US dies at 101 Stronger peso trims PH debt value to P7.9 trillion Typhoon Kammuri accelerates, gains strength en route to PHcenter_img LATEST STORIES With a lot of experience under his belt, Ravena is no doubt going to bring immediate impact for the Road Warriors.“You always see NLEX in neck-and-neck situations with the other teams, but come the endgame, they always falter. Hopefully, I could help in those aspects,” he said.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThe 24-year-old Ravena has always been the star on every team he’s played in but he knows that he still has a lot to learn and he’s willing to listen to his teammates and coaches.“I’m blessed to have the chance to play under a winning coach in Yeng Guiao, and I’m open to learning the ropes in the PBA from the veterans,” said Ravena, who joins a loaded NLEX guard rotation with Kevin Alas, Cyrus Baguio, Jonas Villanueva, Carlo Lastimosa, Alex Mallari, and Juami Tiongson.  Kammuri turning to super typhoon less likely but possible — Pagasa “I’m very ecstatic. It’s a very fulfilling feeling. I’ve been dreaming of this for a long time, so hopefully, I could contribute to NLEX,” he said. QC cops nab robbery gang leader, cohort John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Don’t miss out on the latest news and information. Standhardinger ‘very excited’ to play with Fajardo at SMBlast_img read more

Golovkin skips birth of daughter to train for title fight

first_imgEthel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ “Golovkin is a family man. He has always been very, very, very focused,” Sanchez said. “He has never been the type of guy to go out at night. You are never going to lose him for a day.“He just bought his first car six months ago. He didn’t have a car before because he said he spends all his time in the gym.”Golovkin declined to speak about the birth at a news conference on Wednesday at the MGM Grand Hotel and Casino.“Please don’t ask me about my family. I am just focused on boxing,” he said.Sports Related Videospowered by AdSparcRead Next Lacson: SEA Games fund put in foundation like ‘Napoles case’ Golovkin stayed in the gym for two hours after his wife, Alina, gave birth to the couple’s second child. They also have a son. “He didn’t leave the gym until 6 pm,” Golovkin’s trainer Abel Sanchez said. “The baby was born at 4 pm.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening“His wife was in the hospital for one day. She came home next day so he was home with them.”Golovkin, who holds the World Boxing Council, World Boxing Association and International Boxing Federation middleweight belts, will face Canelo Alvarez in a 12-round mega title fight on Saturday in Las Vegas. Don’t miss out on the latest news and information. Trump signs bills in support of Hong Kong protesters JRU wins fifth in six games, trumps Letran Celebrity chef Gary Rhodes dies at 59 with wife by his side Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement PLAY LIST 00:44Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement01:49Pacquiao to Mayweather: Want fans to stop asking for rematch? Then fight me again01:40Keith Thurman says it’s ‘game over’ for Manny Pacquiao02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Hotel says PH coach apologized for ‘kikiam for breakfast’ claimcenter_img LATEST STORIES MOST READ WBC, WBA and IBF middleweight champion Gennady Golovkin attends a news conference at MGM Grand Hotel & Casino on September 12, 2017 in Las Vegas, Nevada. Golovkin will defend his titles against Canelo Alvarez at T-Mobile Arena on September 16 in Las Vegas. Ethan Miller/Getty Images/AFPGennady Golovkin is one of the most dedicated boxers in the world and even the birth of his daughter couldn’t pry him out of the gym.The three-belt champion missed the birth on Friday because he was training for his upcoming world middleweight title fight.ADVERTISEMENT Sanchez said he was concerned during the long training camp about how Golovkin was doing with the baby on the way and the most important fight of his career around the corner.“I started to voice my concern. ‘The baby’s not here’. He said ‘coach the baby is going to come whether I am there or not. I have already done my part.’”Sanchez said Golovkin has been in high spirits as the fight preparation shifted this week from their training camp to Las Vegas.“He is in a great mood. I don’t know if it is because of the baby being here or if because he finally got the fight he wanted,” Sanchez said.Sanchez says Golovkin is a good father and just as dedicated to his family as he is to his work.ADVERTISEMENT Celebrity chef Gary Rhodes dies at 59 with wife by his side NATO’s aging eye in the sky to get a last overhaul Robredo should’ve resigned as drug czar after lack of trust issue – Panelo View commentslast_img read more

16 days agoSchmeichel slams Liverpool ace Shaqiri for ‘behaving like a child’

first_imgSchmeichel slams Liverpool ace Shaqiri for ‘behaving like a child’by Paul Vegas16 days agoSend to a friendShare the lovePeter Schmeichel says Xherdan Shaqiri “behaved like a child” over the Switzerland captaincy row.Liverpool ace Shaqiri reportedly missed Switzerland’s last two Euro2020 qualifiers because he was annoyed over Granit XhakaThe Arsenal midfielder was open to discussing it with Shaqiri, who has been criticised by Schmeichel.”I liked the words of Granit Xhaka in the context of Shaqiri’s absence,” the Manchester United legend said.”I read that the captain question played a role in Shaqiri’s thinking.”Although this has been denied in the meantime, nevertheless I found it strong that Xhaka said: ‘If Shaqiri wants to have the captain’s armband, he should take it.'”Xhaka showed that he wants to be a leader even without ties – and gave the pressure to Shaqiri. That was brilliant of him. In contrast to Shaqiri, who behaved like a child.” About the authorPaul VegasShare the loveHave your saylast_img read more

Freedom Mobile is star of Shaws Q4 as cable internet provider transforms

first_imgShaw Communications had a $200-million profit in the fourth quarter of fiscal 2018, down from the same time last year but in line with estimates given significant changes undertaken by the cable, internet and wireless service provider.The company’s Freedom Mobile wireless division was clearly the star of the quarter, as it added 85,014 subscribers — more than double the additions a year earlier — and increased its fourth-quarter revenue by 45.3 per cent from last year.Meanwhile Shaw’s cable video and internet services underperformed expectations, with total revenue generating units (RGUs) declining by 59,231, compared with a gain of 24,352 a year earlier on the strength of its internet offering.“Wireless had an exceptional year, with all of our key performance metrics moving in the right direction,” chief executive Brad Shaw told analysts Thursday in a conference call.“In 2018, we grew our subscriber base by 255,000 — or 22 per cent — compared with (fiscal) 2017, to end the year at just over 1.4 million customers.”Freedom’s subscriber growth gained momentum after the company began to sell Apple products for the first time in December. It also upgraded its network with faster technology capable of using advanced features of most devices.Shaw’s management team said they expected Freedom to continue growth, both in its established markets as well as additional cities including the B.C. capital Victoria and Alberta’s Lethbridge, and Red Deer.The larger part of Shaw’s business, providing home video products by cable and satellite and landline internet service, eked out a small revenue gain despite difficulties winning and keeping customers.“In our wireline business, we delivered F18 results that are consistent with our strategy — to focus on profitable growth and stabilize results,” Shaw said.“I’m pleased with the significant cost savings that we have achieved during the year. However, I believe we can execute better.”In particular, he said, results from Shaw’s home internet services didn’t capture “significant” opportunities during the second half of fiscal 2018, which spanned March through August.Several analysts focused on the weak wireline results, which coincided with a workforce reduction that resulted in 1,300 employees leaving voluntarily by Aug. 31, and the gradual switch to a new generation of video-internet service.Shaw president Jay Mehr acknowledged that the company’s chief wireline rival, Telus Corp. had been effective in winning customers with back-to-school promotions in August.“It’s clear in a competitive marketplace when you win a cycle and when you don’t win a cycle. And they absolutely won a cycle, so no excuses from our end,” Mehr said.Among other things, Mehr said that — in hindsight — Shaw underspent on internet promotions in the month of August.“If I had that to do over, I probably would have spent a couple million dollars more on marketing in August.”He also acknowledged that the voluntary departures, which were made available to all Shaw non-union employees, had affected results when some leaders left. But those who remained were energized and effective, Mehr said.“We’ve got a real nice business here that’s a lot simpler than it used to be. And we’re very proud of how the team is executing.”But Mehr said he doesn’t think there will be a big bounce-back in wireline RGUs going forward, because of a shift in Shaw’s focus towards containing costs and growing margins.“It’s part of how we’ve re-engineered the whole company in the (past) six months,” Mehr said. “I think you’ll see us grow revenue by small amounts on a steady basis, with decent improvement in gross margin and a significant improvement in overall consumer profitability.”Shaw’s net income for the three months ended Aug. 31 was $200 million, or 39 cents per diluted share, down from a net income of $481 million or 96 cents per share for the same quarter last year.Analysts had estimated $199 million of net income, according to Thomson Reuters Eikon.Revenue for the quarter ending Aug. 31 was $1.34 billion, also in line with estimates and up from the $1.24 billion in last year’s fourth quarter.Wireless division revenue, which comes from Freedom Mobile operations in Alberta, British Columbia and Ontario, was $250 million — up from $172 million the comparable period last year.Revenue from Shaw’s wireline operations, which include residential cable television and internet services in Alberta, British Columbia and Manitoba, increased by 1.3 per cent to $1.09 billion.Business wireline revenue was up 6.6 per cent at $145 million but consumer wireline revenue was flat at $942 million as rate changes and higher internet revenue were offset by declines in video and phone subscribers.The company says it will leave its monthly dividends through to at least January 2019.Companies in this story: (TSX:SJR.B, TSX:T)last_img read more