Robert Half

-4.63%

More reviews (4)

Live  

Robert Half is a global professional staffing and consulting firm that specializes in accounting, finance, technology, legal, creative, and administrative staffing. The company was founded in 1948 and is headquartered in Menlo Park, California. Robert Half has over 400 locations worldwide and has been ranked as one of the "World's Most Admired Companies" by Fortune magazine.
The company offers staffing services such as temporary and contract staffing, full-time placement, and project consulting. They also provide consulting services such as risk consulting, technology consulting, and strategic consulting. Additionally, Robert Half provides resources to job seekers, including career advice, resume writing tips, and professional development courses.
Robert Half is committed to ethical and socially responsible business practices, and they have received multiple awards for their corporate citizenship, diversity and inclusion initiatives, and sustainability efforts.
Overall, Robert Half is a reputable and well-respected company in the professional staffing and consulting industry, known for its high-quality services and commitment to ethical standards.

Um9iZXJ0IE hhbGYgaXMg YSBjb21wYW 55IHRoYXQg aGVscHMgYn VzaW5lc3Nl cyBmaW5kIH dvcmtlcnMg Zm9yIGRpZm ZlcmVudCBq b2JzLiBJbW FnaW5lIGlm IGEgY29tcG FueSBuZWVk ZWQgc29tZW 9uZSB0byBt YW5hZ2UgdG hlaXIgbW9u ZXksIGhhbm RsZSBjYWxs cyBmcm9tIG N1c3RvbWVy cywgb3Igd3 JpdGUgcmVw b3J0cy4gUm 9iZXJ0IEhh bGYgaGFzIG EgdGVhbSBv ZiBwZW9wbG Ugd2hvIGFy ZSBleHBlcn RzIGluIGxv b2tpbmcgYX QgbG90cyBv ZiBjYW5kaW RhdGVzIGFu ZCBjaG9vc2 luZyB0aGUg YmVzdCBvbm VzIGZvciB0 aG9zZSBqb2 JzLjxicj5U aGV5IG1ha2 UgbW9uZXkg YnkgY2hhcm dpbmcgYnVz aW5lc3Nlcy BhIGZlZSBl YWNoIHRpbW UgdGhleSBo ZWxwIGZpbm Qgc29tZW9u ZSBmb3IgYS Bqb2IuIFRo aXMgbWVhbn Mgd2hlbiBh IGNvbXBhbn kgaGlyZXMg YSBwZXJzb2 4gdGhyb3Vn aCBSb2Jlcn QgSGFsZiwg dGhlIGNvbX BhbnkgcGF5 cyBSb2Jlcn QgSGFsZiBh IGNlcnRhaW 4gYW1vdW50 IG9mIG1vbm V5LiBTb21l dGltZXMsIH RoZSBmZWUg aXMgYSBwZX JjZW50YWdl IG9mIHRoZS BuZXcgd29y a2Vy4oCZcy BzYWxhcnkg b3IgYSBzZX QgcGF5bWVu dCBmb3IgdG hlaXIgc2Vy dmljZXMuPG JyPlJvYmVy dCBIYWxmIG lzIHN1Y2Nl c3NmdWwgYm VjYXVzZSBp dCBrbm93cy BhIGxvdCBh Ym91dCBkaW ZmZXJlbnQg a2luZHMgb2 Ygam9icyBh bmQgdGhlIH NraWxscyBu ZWVkZWQgZm 9yIHRoZW0u IFRoZXkgaG F2ZSBiZWVu IGFyb3VuZC Bmb3IgYSBs b25nIHRpbW UsIHNvIHRo ZXkgaGF2ZS BidWlsdCBh IGdvb2Qgcm VwdXRhdGlv bi4gTWFueS Bjb21wYW5p ZXMgdHJ1c3 QgdGhlbSB0 byBmaW5kIH RoZSByaWdo dCB3b3JrZX JzIHF1aWNr bHksIHdoaW NoIG1ha2Vz IHRoZSBidX NpbmVzc2Vz IGhhcHB5Lj xicj5JbiB0 aGUgZnV0dX JlLCBSb2Jl cnQgSGFsZi BpcyBsaWtl bHkgdG8gc3 RheSBzdWNj ZXNzZnVsIG JlY2F1c2Ug bWFueSBjb2 1wYW5pZXMg d2lsbCBhbH dheXMgbmVl ZCBoZWxwIG ZpbmRpbmcg dGhlIHJpZ2 h0IHBlb3Bs ZSBmb3IgdG hlaXIgam9i cy4gQWxzby wgYXMgdGhl IHdvcmxkIG tlZXBzIGNo YW5naW5nLC BuZXcgdHlw ZXMgb2Ygam 9icyB3aWxs IGJlIGNyZW F0ZWQsIGFu ZCBSb2Jlcn QgSGFsZiBj YW4gYWRhcH QgdG8gaGVs cCBmaW5kIH dvcmtlcnMg Zm9yIHRob3 NlIG5ldyBy b2xlcy4gUG VvcGxlIHdp bGwgc3RpbG wgbmVlZCBq b2JzLCBhbm QgY29tcGFu aWVzIHdpbG wgY29udGlu dWUgdG8gbG 9vayBmb3Ig aGVscCBpbi BmaW5kaW5n IGdvb2QgZW 1wbG95ZWVz LCBzbyBSb2 JlcnQgSGFs ZiB3aWxsIG tlZXAgcGxh eWluZyBhbi BpbXBvcnRh bnQgcm9sZS 48YnI+

MS4gRXN0YW JsaXNoZWQg UmVwdXRhdG lvbjogUm9i ZXJ0IEhhbG Ygd2FzIGZv dW5kZWQgaW 4gMTk0OCBh bmQgaGFzIH NpbmNlIGJ1 aWx0IGEgc2 9saWQgcmVw dXRhdGlvbi BpbiB0aGUg c3RhZmZpbm cgYW5kIHJl Y3J1aXRpbm cgaW5kdXN0 cnkuPGJyPj IuIEdsb2Jh bCBQcmVzZW 5jZTogV2l0 aCBvZmZpY2 VzIGluIG92 ZXIgMzAwIG xvY2F0aW9u cyB3b3JsZH dpZGUsIFJv YmVydCBIYW xmIGhhcyBh IHN0cm9uZy BnbG9iYWwg cHJlc2VuY2 UgYW5kIGNh biBvZmZlci BpdHMgc2Vy dmljZXMgdG 8gY2xpZW50 cyBhbmQgY2 FuZGlkYXRl cyBpbiB2YX Jpb3VzIGNv dW50cmllcy 48YnI+My4g U3BlY2lhbG l6ZWQgUmVj cnVpdGluZz ogVGhlIGNv bXBhbnkgaG FzIHNwZWNp YWxpemVkIG RpdmlzaW9u cyBmb3Igc3 RhZmZpbmcg aW4gdmFyaW 91cyBpbmR1 c3RyaWVzLC BpbmNsdWRp bmcgdGVjaG 5vbG9neSwg YWNjb3VudG luZywgZmlu YW5jZSwgbG VnYWwsIGFu ZCBhZG1pbm lzdHJhdGl2 ZSBzdXBwb3 J0Ljxicj40 LiBIaWdoLV F1YWxpdHkg VGFsZW50Oi BSb2JlcnQg SGFsZiBoYX MgYSByaWdv cm91cyBzY3 JlZW5pbmcg YW5kIHF1YW xpZmljYXRp b24gcHJvY2 VzcyBmb3Ig Y2FuZGlkYX RlcywgZW5z dXJpbmcgdG hhdCBvbmx5 IHRvcC1xdW FsaXR5IHRh bGVudCBpcy BwcmVzZW50 ZWQgdG8gY2 xpZW50cy48 YnI+NS4gRm xleGlibGUg U29sdXRpb2 5zOiBUaGUg Y29tcGFueS BvZmZlcnMg YSByYW5nZS BvZiBmbGV4 aWJsZSBzdG FmZmluZyBz b2x1dGlvbn MsIGluY2x1 ZGluZyB0ZW 1wb3Jhcnks IGNvbnRyYW N0LXRvLWhp cmUsIGFuZC BmdWxsLXRp bWUgcG9zaX Rpb25zLCB0 byBtZWV0IH RoZSB1bmlx dWUgbmVlZH Mgb2YgY2xp ZW50cy48Yn I+Ni4gSW5u b3ZhdGl2ZS BUZWNobm9s b2d5OiBSb2 JlcnQgSGFs ZiBoYXMgaW 52ZXN0ZWQg aW4gYWR2YW 5jZWQgdGVj aG5vbG9neS BhbmQgdG9v bHMgdG8gc3 RyZWFtbGlu ZSB0aGUgcm VjcnVpdGlu ZyBwcm9jZX NzIGFuZCBw cm92aWRlIG JldHRlciBz ZXJ2aWNlcy B0byBjbGll bnRzIGFuZC BjYW5kaWRh dGVzLjxicj 43LiBDb21t aXRtZW50IH RvIERpdmVy c2l0eSBhbm QgSW5jbHVz aW9uOiBUaG UgY29tcGFu eSBpcyBjb2 1taXR0ZWQg dG8gcHJvbW 90aW5nIGRp dmVyc2l0eS BhbmQgaW5j bHVzaXZpdH kgaW4gdGhl IHdvcmtwbG FjZSBhbmQg aGFzIGluaX RpYXRpdmVz IHRvIHN1cH BvcnQgdW5k ZXJyZXByZX NlbnRlZCBn cm91cHMuPG JyPjguIENv cnBvcmF0ZS BTb2NpYWwg UmVzcG9uc2 liaWxpdHk6 IFJvYmVydC BIYWxmIGFj dGl2ZWx5IH BhcnRpY2lw YXRlcyBpbi B2YXJpb3Vz IGNoYXJpdG FibGUgY2F1 c2VzIGFuZC BlbmNvdXJh Z2VzIGVtcG xveWVlcyB0 byB2b2x1bn RlZXIgaW4g dGhlaXIgbG 9jYWwgY29t bXVuaXRpZX MuPGJyPjku IEluZHVzdH J5IFJlY29n bml0aW9uOi BUaGUgY29t cGFueSBoYX MgcmVjZWl2 ZWQgbnVtZX JvdXMgaW5k dXN0cnkgYX dhcmRzIGFu ZCBhY2NvbG FkZXMgZm9y IGl0cyBzZX J2aWNlcywg aW5jbHVkaW 5nIGJlaW5n IG5hbWVkIG 9uZSBvZiBG b3J0dW5lJ3 MgIldvcmxk J3MgTW9zdC BBZG1pcmVk IENvbXBhbm llcyIgZm9y IDIyIGNvbn NlY3V0aXZl IHllYXJzLj xicj4xMC4g Q2FyZWVyIE FkdmFuY2Vt ZW50IE9wcG 9ydHVuaXRp ZXM6IFJvYm VydCBIYWxm IG9mZmVycy BlbXBsb3ll ZXMgb3Bwb3 J0dW5pdGll cyBmb3IgcH JvZmVzc2lv bmFsIGdyb3 d0aCBhbmQg ZGV2ZWxvcG 1lbnQgdGhy b3VnaCB0cm FpbmluZyBw cm9ncmFtcy wgbWVudG9y c2hpcCwgYW 5kIGFkdmFu Y2VtZW50IH dpdGhpbiB0 aGUgY29tcG FueS4=

Um9iZXJ0IE hhbGYgaXMg YSBnbG9iYW wgc3RhZmZp bmcgYW5kIG NvbnN1bHRp bmcgZmlybS B0aGF0IHNw ZWNpYWxpem VzIGluIHBy b3ZpZGluZy ByZWNydWl0 bWVudCBhbm QgaHVtYW4g cmVzb3VyY2 UgY29uc3Vs dGluZyBzZX J2aWNlcyBm b3IgYnVzaW 5lc3Nlcy4g SXRzIGJ1c2 luZXNzIG1v ZGVsIHByaW 1hcmlseSBy ZXZvbHZlcy Bhcm91bmQg cHJvdmlkaW 5nIGNsaWVu dHMgd2l0aC B0ZW1wb3Jh cnksIGZ1bG wtdGltZSwg YW5kIHByb2 plY3QtYmFz ZWQgc3RhZm Zpbmcgc29s dXRpb25zIG luIHZhcmlv dXMgaW5kdX N0cmllcyBz dWNoIGFzIG FjY291bnRp bmcsIGZpbm FuY2UsIHRl Y2hub2xvZ3 ksIG1hcmtl dGluZywgYW 5kIGNyZWF0 aXZlIHNlcn ZpY2VzLiBU aGUgY29tcG FueSBhbHNv IG9mZmVycy Bjb25zdWx0 aW5nLCBleG VjdXRpdmUg c2VhcmNoLC BhbmQgbWFu YWdlZCBzZX J2aWNlcyB0 byBoZWxwIG NvbXBhbmll cyBpbXByb3 ZlIHRoZWly IHRhbGVudC BhY3F1aXNp dGlvbiBhbm QgbWFuYWdl bWVudCBwcm 9jZXNzZXMu IEFkZGl0aW 9uYWxseSwg Um9iZXJ0IE hhbGYgb2Zm ZXJzIGNhcm VlciByZXNv dXJjZXMgYW 5kIHRyYWlu aW5nIHByb2 dyYW1zIGZv ciBqb2Igc2 Vla2Vycywg YXMgd2VsbC BhcyBtYXJr ZXQgaW5zaW dodHMgYW5k IHJlc2Vhcm NoIGZvciBl bXBsb3llcn MuIFRoZSBj b21wYW55IG dlbmVyYXRl cyByZXZlbn VlIHRocm91 Z2ggZmVlcy BjaGFyZ2Vk IHRvIGNsaW VudHMgZm9y IGl0cyBzZX J2aWNlcyBh bmQgY29tbW lzc2lvbnMg ZWFybmVkIG Zyb20gam9i IHBsYWNlbW VudHMu

AI can pose potential threats to Robert Half’s products, services, and competitive positioning in several ways:
1. Substitution: AI technology and platforms that automate recruiting and staffing processes could serve as substitutes for traditional services offered by Robert Half. For instance, AI-driven job-matching algorithms can rapidly connect employers with suitable candidates, potentially diminishing the need for human recruiters.
2. Disintermediation: The rise of AI could facilitate direct connections between employers and candidates, bypassing traditional staffing agencies. Employers may use AI-powered platforms to conduct their own hiring processes, reducing reliance on firms like Robert Half for talent acquisition.
3. Margin Pressure: As AI enhances efficiencies in recruitment and staffing, competition could intensify, leading to lower fees or pricing pressures. Companies that adopt AI tools might be able to offer similar services at reduced costs, compelling Robert Half to lower its fees to remain competitive, which could squeeze margins.
While AI presents these potential threats, it also offers opportunities for companies like Robert Half to innovate and enhance their services. By leveraging AI to improve internal processes, offer better candidate matching, and provide data-driven insights to clients, Robert Half could strengthen its competitive positioning in the evolving market landscape.

The sensitivity of Robert Half’s earnings, cash flow, and valuation to changes in interest rates can be analyzed from several perspectives:
1. Earnings Sensitivity: Robert Half, as a staffing and recruitment firm, may experience indirect effects from interest rate changes. Higher interest rates generally slow down economic activity, which could lead to reduced hiring by companies. This, in turn, can impact Robert Half’s revenue and profitability. Conversely, if rates are low, businesses may be more inclined to expand and hire, potentially boosting earnings for staffing firms.
2. Cash Flow Sensitivity: Cash flow can be influenced by interest rates in several ways. If interest rates rise, the cost of borrowing increases for both Robert Half and its clients. Higher borrowing costs might lead companies to cut back on hiring or spending, affecting Robert Half’s cash inflows from clients. Additionally, if Robert Half has outstanding debt, increased interest rates could lead to higher interest expenses, reducing its free cash flow.
3. Valuation Sensitivity: The valuation of Robert Half is typically anchored in discounted cash flow models, which use a discount rate that incorporates interest rates. An increase in interest rates leads to a higher discount rate, which decreases the present value of future cash flows, potentially lowering the company’s market valuation. Conversely, lower interest rates can enhance valuations by reducing discount rates, making future earnings more valuable in present terms.
Overall, while Robert Half’s direct exposure to interest rates is likely limited, economic conditions influenced by interest rates can significantly affect its earnings, cash flows, and valuation. The company’s performance may be more sensitive to macroeconomic shifts influenced by interest rates than to the rates themselves.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci BSb2JlcnQg SGFsZuKAmX MgZWNvbm9t aWNzIG92ZX IgdGhlIG5l eHQgM+KAkz UgeWVhcnMg aXMgYSBzaW duaWZpY2Fu dCBhbmQgc3 VzdGFpbmVk IGRvd250dX JuIGluIHRo ZSBkZW1hbm QgZm9yIHN0 YWZmaW5nIH NlcnZpY2Vz IGR1ZSB0by B3aWRlc3By ZWFkIGF1dG 9tYXRpb24g YW5kIGFkdm FuY2VtZW50 cyBpbiBhcn RpZmljaWFs IGludGVsbG lnZW5jZSAo QUkpLiBJbi B0aGlzIHNj ZW5hcmlvLC BidXNpbmVz c2VzIGluY3 JlYXNpbmds eSByZWx5IG 9uIEFJIGFu ZCBhdXRvbW F0aW9uIHRl Y2hub2xvZ2 llcyB0byBm aWxsIHJvbG VzIHRoYXQg d2VyZSB0cm FkaXRpb25h bGx5IGhhbm RsZWQgYnkg c3RhZmZpbm cgYWdlbmNp ZXMsIGxlYW RpbmcgdG8g YSBkaW1pbm lzaGVkIG5l ZWQgZm9yIH JlY3J1aXRt ZW50IHNlcn ZpY2VzLjxi cj5JbiB0aG lzIHNjZW5h cmlvLCBSb2 JlcnQgSGFs ZiBjb3VsZC BmYWNlIHNl dmVyYWwgY2 hhbGxlbmdl cyBhZmZlY3 RpbmcgaXRz IG1hcmdpbn MsIGNhc2gg ZmxvdywgYW 5kIGJhbGFu Y2Ugc2hlZX Q6PGJyPjEu IERlY3JlYX NlZCBSZXZl bnVlczogQX MgZGVtYW5k IGZvciBzdG FmZmluZyBz ZXJ2aWNlcy BkaW1pbmlz aGVzLCB0aG UgY29tcGFu eeKAmXMgcm V2ZW51ZXMg d291bGQgbG lrZWx5IGRl Y2xpbmUgc2 lnbmlmaWNh bnRseS4gTW FueSBjbGll bnRzIG1heS BjaG9vc2Ug dG8gaGFuZG xlIGhpcmlu ZyBpbnRlcm 5hbGx5IG9y IHVzZSBhdX RvbWF0ZWQg c29sdXRpb2 5zLCByZXN1 bHRpbmcgaW 4gYSByZWR1 Y2VkIGNsaW VudCBiYXNl IGFuZCBsb3 dlciBiaWxs YWJsZSBob3 VycyBmb3Ig Y29udHJhY3 RvcnMuPGJy PjIuIENvbX ByZXNzaW9u IG9mIE1hcm dpbnM6IFdp dGggZGVjbG luaW5nIHJl dmVudWUsIF JvYmVydCBI YWxmIHdvdW xkIGZhY2Ug cHJlc3N1cm UgdG8gbG93 ZXIgaXRzIH NlcnZpY2Ug ZmVlcyB0by ByZW1haW4g Y29tcGV0aX RpdmUgaW4g YSBzaHJpbm tpbmcgbWFy a2V0LiBUaG lzIHdvdWxk IGxlYWQgdG 8gY29tcHJl c3NlZCBncm 9zcyBtYXJn aW5zIGFzIH RoZSBjb3N0 IG9mIHByb3 ZpZGluZyBz ZXJ2aWNlcy ByZW1haW5z IHJlbGF0aX ZlbHkgZml4 ZWQgd2hpbG UgcmV2ZW51 ZXMgZGVjcm Vhc2UuPGJy PjMuIENhc2 ggRmxvdyBJ c3N1ZXM6IE EgZHJvcCBp biByZXZlbn VlcyB3b3Vs ZCByZXN1bH QgaW4gbG93 ZXIgY2FzaC BpbmZsb3dz LCBwb3Rlbn RpYWxseSBs ZWFkaW5nIH RvIGNhc2gg ZmxvdyBjaG FsbGVuZ2Vz LiBUaGUgY2 9tcGFueSBt aWdodCBzdH J1Z2dsZSB0 byBjb3Zlci BvcGVyYXRp b25hbCBleH BlbnNlcyB3 aXRob3V0IH NpZ25pZmlj YW50IGN1dH MgdG8gY29z dHMuIENhc2 ggcmVzZXJ2 ZXMgY291bG QgZHdpbmRs ZSwgYW5kIH RoZSBjb21w YW55IG1heS BmaW5kIGl0 IGRpZmZpY3 VsdCB0byBp bnZlc3QgaW 4gbmVjZXNz YXJ5IHJlc2 91cmNlcyBv ciB0ZWNobm 9sb2d5Ljxi cj40LiBCYW xhbmNlIFNo ZWV0IEltcG xpY2F0aW9u czogSWYgcm V2ZW51ZXMg ZGVjbGluZS BzaGFycGx5 IGFuZCBjYX NoIGZsb3cg aXNzdWVzIG FyaXNlLCBS b2JlcnQgSG FsZiBtaWdo dCBuZWVkIH RvIHRha2Ug b24gZGVidC BvciBkZXBs ZXRlIGV4aX N0aW5nIGNh c2ggcmVzZX J2ZXMgdG8g bWFpbnRhaW 4gb3BlcmF0 aW9ucy4gVG hpcyBjb3Vs ZCB3ZWFrZW 4gdGhlIGJh bGFuY2Ugc2 hlZXQsIGlu Y3JlYXNlIG xldmVyYWdl IHJhdGlvcy wgYW5kIGFm ZmVjdCB0aG UgY29tcGFu eeKAmXMgY3 JlZGl0IHJh dGluZywgbW FraW5nIGl0 IG1vcmUgZG lmZmljdWx0 IGFuZCBleH BlbnNpdmUg dG8gYm9ycm 93IGluIHRo ZSBmdXR1cm UuPGJyPjUu IExvbmctdG VybSBPcmdh bml6YXRpb2 5hbCBDaGFu Z2VzOiBUby BhZGFwdCB0 byB0aGUgbm V3IG1hcmtl dCByZWFsaX RpZXMsIFJv YmVydCBIYW xmIG1pZ2h0 IG5lZWQgdG 8gdW5kZXJn byBhIG1ham 9yIHJlc3Ry dWN0dXJpbm cuIFRoaXMg d291bGQgaW 52b2x2ZSBu b3Qgb25seS BjdXR0aW5n IGNvc3RzIG J1dCBhbHNv IGludmVzdG luZyBpbiBu ZXcgdGVjaG 5vbG9naWVz IGFuZCBzZX J2aWNlcyB0 aGF0IGFsaW duIHdpdGgg YSBtb3JlIG F1dG9tYXRl ZCBsYWJvci BtYXJrZXQu IFN1Y2ggaW 52ZXN0bWVu dHMgY291bG QgaW5pdGlh bGx5IGh1cn QgY2FzaCBm bG93IGV2ZW 4gZnVydGhl ciBhcyB0aG UgY29tcGFu eSB0cmFuc2 l0aW9ucy48 YnI+T3Zlcm FsbCwgaWYg dGhlIHNjZW 5hcmlvIG9m IHdpZGVzcH JlYWQgYXV0 b21hdGlvbi B3ZXJlIHRv IG1hdGVyaW FsaXplLCBS b2JlcnQgSG FsZuKAmXMg ZmluYW5jaW FsIGhlYWx0 aCB3b3VsZC BsaWtlbHkg ZGV0ZXJpb3 JhdGUgZHVl IHRvIGRlY2 xpbmluZyBy ZXZlbnVlcy wgcHJlc3N1 cmVkIG1hcm dpbnMsIGlt cGFpcmVkIG Nhc2ggZmxv dywgYW5kIG Egd2Vha2Vu ZWQgYmFsYW 5jZSBzaGVl dCwgbmVjZX NzaXRhdGlu ZyBhIHJhcG lkIGFuZCBz dHJhdGVnaW Mgc2hpZnQg aW4gaXRzIG J1c2luZXNz IG1vZGVsLj xicj4=

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvVm hzNkN3eHZ2 MWI4c0VWeU dyT0sud2Vi cCIgYWx0PS JSb2JlcnQg SGFsZiIgdG l0bGU9IlJv YmVydCBIYW xmIiAgY2xh c3M9ImltZy 1mbHVpZCIg aGVpZ2h0PT UwIHdpZHRo PTUwIGxvYW Rpbmc9J2xh enknIHN0eW xlPSdib3Jk ZXItcmFkaX VzOiA2cHg7 Jz4KCiAgIC AgICAgICAg ICAgICAgIC AgPGRpdiBz dHlsZT0nZm xleDogMTsg dGV4dC1hbG lnbjogY2Vu dGVyOyBtYX JnaW4tbGVm dDogNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdm b250LXNpem U6IDI2cHg7 IGNvbG9yOi AjMzMzOyBt YXJnaW4tYm 90dG9tOiAx NXB4Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICDwn5 OIIFdhbnQg dG8gcmVhZC Btb3JlIGFi b3V0IFJvYm VydCBIYWxm PwogICAgIC AgICAgICAg ICAgICAgIC AgICA8L3A+ CgogICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdpbm RleC5waHA/ cGFnZT1zaW dudXAnIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJhY2 tncm91bmQt Y29sb3I6IC MwMDdCRkY7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBj b2xvcjogI2 ZmZjsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH ggMjBweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJv cmRlci1yYW RpdXM6IDVw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHRleHQtZG Vjb3JhdGlv bjogbm9uZT sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG ZvbnQtd2Vp Z2h0OiBib2 xkOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgbWFyZ2lu LXJpZ2h0Oi AxMHB4Owog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdHJh bnNpdGlvbj ogYmFja2dy b3VuZC1jb2 xvciAwLjNz IGVhc2U7Jw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgb2 5tb3VzZW92 ZXI9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA1Nm IzIicKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIG9ubW91 c2VvdXQ9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A3QkZGIic+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG ZvciBmcmVl CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvYT4K CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxzcGFu IHN0eWxlPS dtYXJnaW46 IDAgOHB4Oy Bjb2xvcjog IzU1NTsnPm 9yPC9zcGFu PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPGEg aHJlZj0naW 5kZXgucGhw P3BhZ2U9bG 9naW4nIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGNvbG 9yOiAjMDA3 QkZGOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdGV4dC 1kZWNvcmF0 aW9uOiB1bm RlcmxpbmU7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBm b250LXdlaW dodDogNTAw Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBsb2cgaW 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9hPg oKCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdt YXJnaW4tdG 9wOiAxNXB4 OyBmb250LX NpemU6IDEz cHg7IGZvbn Qtd2VpZ2h0 OiBib2xkOy Bjb2xvcjog I2QzMmYyZj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+GkyBE aXNjb3Zlci A8aT4iVGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2NrcyI8 L2k+IOKAlC BmcmVlIGVC b29rIQogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L3A+CgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 IS0tCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J21hcmdp bi10b3A6ID EycHg7IGZv bnQtc2l6ZT ogMTNweDsg Y29sb3I6IC M0NDQ7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIFNp Z24gdXAgbm 93IGFuZCBn ZXQgb3VyIG ZyZWUgZUJv b2sgCiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8Yj5UaG UgQ2hlY2ts aXN0IFZhbH VlIEludmVz dG9yIOKAlC BBIFNtYXJ0 ZXIgV2F5IH RvIFBpY2sg U3RvY2tzPC 9iPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgICAg ICAgICAgLS 0+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwhLS 0KICAgICAg ICAgICAgIC AgICAgICAg ICAgPGRpdi BzdHlsZT0n bWFyZ2luLX RvcDogMTZw eDsgZm9udC 1zaXplOiAx NHB4OyBjb2 xvcjogIzQ0 NDsgZm9udC 1mYW1pbHk6 IC1hcHBsZS 1zeXN0ZW0s IEJsaW5rTW FjU3lzdGVt Rm9udCwgU2 Vnb2UgVUks IFJvYm90by wgSGVsdmV0 aWNhIE5ldW UsIHNhbnMt c2VyaWY7IG xpbmUtaGVp Z2h0OiAxLj Y7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIEhhdmUg eW91IGhlYX JkIGFib3V0 IG91ciBzaG 9ydCA8c3Ry b25nIHN0eW xlPSdmb250 LXdlaWdodD ogNjAwOyc+ RGFpbHkgVm lkZW8gTmV3 c2xldHRlcj wvc3Ryb25n Pj8KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IDxhIGhyZW Y9J2h0dHBz Oi8vd3d3Lm luc2lnaHRm dWx2YWx1ZS 5jb20vbmV3 c2xldHRlci 5waHAnIHRh cmdldD0nX2 JsYW5rJyBz dHlsZT0nY2 9sb3I6ICMw MDdCRkY7IH RleHQtZGVj b3JhdGlvbj ogbm9uZTsg Zm9udC13ZW lnaHQ6IDUw MDsgbWFyZ2 luLWxlZnQ6 IDZweDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIEZpbmQg b3V0IG1vcm UKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC 0tPgogICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAKICAgIC AgICAKICAg ICAgICA8c3 BhbiBjbGFz cz0nYmx1cn JlZC10ZXh0 Jz4KICAgIC AgICAgICAg TVM0Z1JtOT FibSBSbFpD QnBiaUF4IE 9UUTRMQ0JT YjIgSmxjbl FnU0dGcyBa aUIzWVhNZ2 RHIGhsSUda cGNuTjAgSU hKbFkzSjFh WCBSdFpXNT BJR0ZuIFpX NWplU0JwYm kgQjBhR1Vn Vlc1cCBkR1 ZrSUZOMFlY IFJsY3lCMG J5QnogY0dW amFXRnNhWC BwbElHbHVJ SEJzIFlXTn BibWNnWVcg TmpiM1Z1ZE dsdSBaeUJo Ym1RZ1ptIG x1WVc1alpT QncgY205bV pYTnphVyA5 dVlXeHpMan hpIGNqNHlM aUJVYUcgVW dZMjl0Y0dG dSBlZUtBbV hNZ2JtIEZ0 WlNCamIyMW wgY3lCbWNt OXRJRyBsMG N5Qm1iM1Z1 IFpHVnljeX dnVW0gOWla WEowSUdGdS BaQ0JOWVho cGJtIFVnU0 dGc1ppd2cg ZDJodklITj BZWCBKMFpX UWdkR2hsIE lHSjFjMmx1 WlggTnpJR2 x1SUhSbyBa V2x5SUdodm JXIFVnYVc0 Z1RXVnUgYk c4Z1VHRnlh eSB3Z1EyRn NhV1p2IGNt NXBZUzQ4WW 4gSStNeTRn VW05aSBaWE owSUVoaGJH IFlnY0dsdm JtVmwgY21W a0lIUm9aUy BCamIyNWpa WEIwIElHOW 1JSFJsYlgg QnZjbUZ5ZV NCeiBkR0Zt Wm1sdVp5IE JwYmlCMGFH VWcgWVdOam IzVnVkRyBs dVp5QmhibV FnIFptbHVZ VzVqWlMgQn BibVIxYzNS eSBlUzRnVk docGN5IEJv Wld4d1pXUW cgWTI5dGNH RnVhVyBWek lHWnBiR3dn IGMyaHZjbl F0ZEcgVnli U0J6ZEdGbS BabWx1WnlC dVpXIFZrY3 lCaGJtUWcg Y0hKdmRtbG taVyBRZ2NI SnZabVZ6IG MybHZibUZz Y3kgQjNhWF JvSUcxdiBj bVVnWm14bG VHIGxpYkdV Z2QyOXkgYX lCdmNIQnZj biBSMWJtbD BhV1Z6IExq eGljajQwTG kgQkpiaUF4 T1RnMiBMQ0 JTYjJKbGNu IFFnU0dGc1 ppQmkgWldO aGJXVWdkRy BobElHWnBj bk4wIElISm xZM0oxYVgg UnRaVzUwSU dGbiBaVzVq ZVNCMGJ5IE JpWlNCc2FY TjAgWldRZ2 IyNGdkRyBo bElFNWxkeU JaIGIzSnJJ Rk4wYjIgTn JJRVY0WTJo aCBibWRsTG p4aWNqIDQx TGlCVWFHVW cgWTI5dGNH RnVlUyBCb1 lYTWdZU0Ju IGJHOWlZV3 dnY0ggSmxj MlZ1WTJVcy BJSGRwZEdn Z2JXIDl5Wl NCMGFHRnUg SURRd01DQn NiMiBOaGRH bHZibk1nIG QyOXliR1Iz YVcgUmxJR0 Z1WkNCdiBj R1Z5WVhScG IyIDV6SUds dUlHMXYgY2 1VZ2RHaGhi aSBBeU1DQm piM1Z1IGRI SnBaWE11UE cgSnlQall1 SUVsdSBJR0 ZrWkdsMGFX IDl1SUhSdk lHRmogWTI5 MWJuUnBibS BjZ1lXNWtJ R1pwIGJtRn VZMlVzSUYg SnZZbVZ5ZE NCSSBZV3ht SUdGc2MyID hnYzNCbFky bGggYkdsNl pYTWdhVyA0 Z2NHeGhZMm x1IFp5Qndj bTltWlggTn phVzl1WVd4 eiBJR2x1SU hSb1pTIEJt YVdWc1pITW cgYjJZZ2RH VmphRyA1dm JHOW5lU3dn IGJHVm5ZV3 dzSUcgTnla V0YwYVhabC BMQ0JoYm1R Z1lXIFJ0YV c1cGMzUnkg WVhScGRtVW djMyBWd2NH OXlkQzQ4IF luSStOeTRn VkcgaGxJR0 52YlhCaCBi bmtnYUdGek lHIEpsWlc0 Z2JtRnQgWl dRZ2RHOGdS bSA5eWRIVn VaZUtBIG1Y TWc0b0NjVj IgOXliR1Rp Z0pseiBJRT F2YzNRZ1FX IFJ0YVhKbF pDQkQgYjIx d1lXNXBaWC BQaWdKMGdi R2x6IGRDQm 1iM0lnTWog SWdZMjl1Yz JWaiBkWFJw ZG1VZ2VXIF ZoY25NdVBH SnkgUGpndU lGSnZZbSBW eWRDQklZV3 htIElIZGhj eUJ5WVcgNX JaV1FnSXpF ZyBhVzRnZE dobElIIE4w WVdabWFXNW 4gSUdsdVpI VnpkSCBKNU lHOXVJRVp2 IGNtSmxjK0 tBbVMgRGln SnhCYldWeS BhV05oNG9D WmN5IEJDWl hOMElFVnQg Y0d4dmVXVn ljKyBLQW5T QnNhWE4wIE lHbHVJREl3 TWogQXVQR0 p5UGprdSBJ RlJvWlNCam IyIDF3WVc1 NUlHaGggY3 lCaElITjBj bSA5dVp5Qm piMjF0IGFY UnRaVzUwSU ggUnZJR052 Y25CdiBjbU YwWlNCemIy IE5wWVd3Z2 NtVnogY0c5 dWMybGlhVy B4cGRIa2dZ VzVrIElITj FjSEJ2Y24g UnpJSFpoY2 1sdiBkWE1n WTJoaGNtIG wwWVdKc1pT QnYgY21kaG JtbDZZWCBS cGIyNXpJSF JvIGNtOTFa MmdnYVggUn pJRkp2WW1W eSBkQ0JJWV d4bUlFIGx1 ZEdWeWJtRj AgYVc5dVlX d2dSMiBsMm FXNW5JRVox IGJtUXVQR0 p5UGogRXdM aUJTYjJKbC BjblFnU0dG c1ppIEJvWV hNZ1ltVmwg YmlCeVpXTn ZaMiA1cGVt VmtJR1p2IG NpQnBkSE1n ZDIgOXlhM0 JzWVdObCBJ R04xYkhSMW NtIFVnWVc1 a0lHUnAgZG 1WeWMybDBl UyBCcGJtbD BhV0YwIGFY WmxjeXdnYV cgNWpiSFZr YVc1biBJR0 psYVc1bklH IDVoYldWa0 lHOXUgWlNC dlppQjBhRy BVZzRvQ2NR bVZ6IGRDQl hiM0pyY0cg eGhZMlZ6SU dadiBjaUJF YVhabGNuIE 5wZEhuaWdK MGcgWW5rZ1 JtOXlkSCBW dVpTQmhibV FnIFIzSmxZ WFFnVUcgeG hZMlVnZEc4 ZyBWMjl5YX lCcGJpIEF5 TURFNElHRn UgWkNBeU1E RTVMZyA9PQ ogICAgICAg IDwvc3Bhbj 4KICAgICAg ICAKICAgIC AgICA=