Since he started working in real estate nearly three decades ago, Mark Deutschmann has broken new neighborhood ground, built Village Real Estate into an organization with more than 300 agents, launched Core Development and played a key role in initiatives that are changing the look, feel and use of our city. Deutschmann sat down recently with Post Editor Geert De Lombaerde to talk about his career, Nashville’s development and what’s next on both fronts. Here are some excerpts from that conversation.
I thought we could start with Wedgewood-Houston and then work our way back. Take us back to the beginning of when you had the idea to get to work there. When did the light bulb come on to make you think there was something there to explore?
kAmx H2D 7:?:D9:?8 FA H:E9 E96 =2DE D2=6D 2E (6CE92? {@7ED] %92E 925 EFC?65 :?E@ E96 `_\J62C AC@;64E] (6 E@@< :E @77 :? 49F?<D 2?5 E96 =2DE A92D6 @7 hg F?:ED[ H6 H6C6 :? E96 AC@46DD @7 D6==:?8 :E @FE] (6 H6C6 =@@<:?8 7@C E96 ?6IE 3:8 E9:?8 2?5 >J ru~ 24EF2==J :D 2? 2CE:DE @? E96 D:56] w6 3F:=5D D4F=AEFC6D 2?5 96 925 2 A=246 5@H? :? (6586H@@5\w@FDE@?] %96C6 H2D 2=C625J 2 ?:46 2CE:DE:4 2?5 >2<6C 4@>>F?:EJ D@ E96C6 H2D D@CE @7 2 D665 @7 D@>6 8@@5?6DD] r@FA=6 E92E H:E9 D@>6 G6CJ F?56CFE:=:K65 :?5FDEC:2= AC@A6CEJ 2?5 H6 76=E =:<6 :E H2D 2 ?6:893@C9@@5 E92E 4@F=5 36 6>3C2465]k^Am
kAmkDEC@?8ms:5 :E C6>:?5 J@F @7 J@FC H@C< :? `a$@FE9 @C @7 (6CE92?n (2D :E D@>6E9:?8 H96C6 J@F D2:5[ “x’G6 D66? E9:D 367@C6[ 2?5 x E9:?< x <?@H 9@H E9:D :D 8@:?8 E@ H@C<n”k^DEC@?8mk^Am
kAm%96C6’D 2=H2JD D@>6 @7 E92E] *@F 567:?:E6=J =62C? 7C@> J@FC 6IA6C:6?46D] x D@CE @7 DE2CE65 =@@<:?8 2E >J H@C< :? E6C>D @7 E96 @?6\>:=6 C25:FD] (92E’D 92AA6?:?8 :? 2 @?6>:=6 C25:FDn x7 x DE2CE E@ 86E :?G@=G65 :? E9:D[ H92E 2C6 E96 2DD6ED 2G2:=23=6n (9@’D 96C6 2=C625Jn (92E 42? H6 3F:=5 FA@?n (92E 2C6 D@>6 >2;@C E9:?8D E92E H6 42? 5@ E@ >@G6 E9:?8D 2=@?8n (92E 2C6 E96 AC@7:E :?E6C6DED E92E 2C6 E96C6n (92E 2C6 E96 8C66?H2JD[ E96 ?2EFC2= C6D@FC46Dn p?5 D@ E9:D :D H96? J@F 42? D:K6 :E FA 2?5 8@ 23@FE @?6 >:=6 E@ E96 |FD:4 r:EJ r6?E6C 2?5 J@F 92G6 2446DD E@ E96 A2C< ,u@CE }68=6J. 3642FD6 E96C6’D 8@:?8 E@ 36 D@>6E9:?8 92AA6?:?8 E96C6] *@F 92G6 2CE:DED[ >2<6CD[ 2 4@>>F?:EJ E92E E96J H2?E E@ 56G6=@A D@ E96J’C6 H6=4@>:?8 :? E9:D H2J]k^Am
kAmp?5 x 8F6DD 2E E92E >@>6?E :? E:>6[ E96 =2?5 H2D G6CJ C625:=J 2G2:=23=6[ =@@<:?8 2E AC:46] $@ :E H2D D@>6E9:?8 H9:49 H@F=5 2==@H FD E@ 5@ H92E H6’5 =:<6 E@ 5@ — ?@E E96 @?6D 2?5 EH@D 2?5 D:?8=6 3F:=5D @C E96 a_\DE@CJ 9:89 C:D6D] (6 42? 5@ D@>6E9:?8 E92E’D D@CE @7 D>2== 2?5 ?:>3=6 2?5[ 9@A67F==J[ 96=A 4C62E6 2 ?6:893@C9@@5]k^Am
kAmkDEC@?8m*@F’G6 =@?8 366? 24E:G6 :? ?6:893@C9@@5D 4=@D6 E@ }2D9G:==6’D 4@C6] w@H 5:5 J@F 4@>6 E@ :Enk^DEC@?8mk^Am
kAmx 92G6 ':==286 #62= tDE2E6[ DE2CE65 E92E :? `hhe] qFE 6G6? AC6G:@FD E@ E92E[ x 925 D@=5 C62= 6DE2E6] x 925 H@C<65 H:E9 2 4@>A2?J 42==65 #6?2:DD2?46[ 2 C62= 6DE2E6 4@>A2?J =@42E65 @? (@@5=2?5 $EC66E] p?5 E96J 5:GG:65 FA E96 4:EJ 3J 86@8C2A9:4 K@?6D] p?5 x 925 AFC492D65 2 9@FD6 @G6C @77 `aE9 $@FE9[ @? r2CFE96CD pG6?F6[ 2?5 x H2?E65 E92E K@?6] $@>63@5J 925 E92E K@?6 3FE E96C6 H2D 2G2:=23=6 E96 2C62 36EH66? q6=>@?E 2?5 (6DE t?5]k^Am
kAm$@ x E@@< E92E 2?5 >J 7:CDE E9:?8 E92E x 8@E :?G@=G65 H:E9 H2D w:==D3@C@ ':==286[ H9:49 H2D E96? DE:== D@>6H92E G242?E 2?5 925 72=E6C65] x DE2CE65 E9:?<:?8 :? E6C>D @7[ “x D6== C62= 6DE2E6 H:E9:? 2 @?6\>:=6 C25:FD @7 w:==D3@C@ ':==286]” (96? A6@A=6 2D<65 >6 H92E x 5:5[ E92E’D H92E x E@=5 E96>] x DE2CE65 E9:?<:?8[ “x7 x 42? 96=A 6?6C8:K6 2 4@>>6C4:2= 5:DEC:4E[ :E’D 8@:?8 E@ 36 2 =:EE=6 ;6H6=] p?5 A6@A=6 H:== H2?E E@ >@G6 324< E@ E96 9@FD6D[ 2?5 :E H:== 96=A >J D2=6D 42C66C]” x 96=A65 @C82?:K6 E96 7:CDE 9@>6 E@FC H:E9 y2?6 r=6G6=2?5 @7 '2?56C3:=E &?:G6CD:EJ] (6 8@E E@86E96C 2?5 925 2 9@>6 E@FC 2?5 w2==@H66? A2CEJ — E92E’D H2J 324< :? E96 =2E6 ‘g_D[ 62C=J ‘h_D]k^Am
kAm%96?[ D:?46 x 925 >@G65 E@ `a$@FE9[ x 2D<65 7@C 2?5 C646:G65 E92E 2D A2CE @7 >J D2=6D E6CC:E@CJ] x DE2CE65 DEF5J:?8 E92E 2?5[ 3J E96 >:5 ‘h_D[ x C62=:K65 E92E 6?6C8:K:?8 2 4@>>6C4:2= 5:DEC:4E H2D 8@:?8 E@ 36 4C:E:42= E@ E96 4@?E:?F65 C6?@G2E:@? @7 9@FD6D] $@ x DE2CE65 2 A2CE?6CD9:A H:E9 y@6= $@=@>@? 2?5 H6 3@F89E FA `` AC@A6CE:6D @? `aE9 pG6?F6 $@FE9 7@C 36EH66? Sc_[___ 2?5 S`d_[___[ H9:49 D66>65 =:<6 2 8C62E 562= 2E E96 E:>6] qFE A6@A=6 E9@F89E H6 H6C6 D@CE @7 4C2KJ[ E@@]k^Am
kAm(6 H6C6?’E ECJ:?8 E@ <66A E96 3F:=5:?8D] (6 H6C6 ECJ:?8 E@ 2EEC24E >6C492?ED] (6 4@F=5 3FJ 3F:=5:?8D 7@C Sg_[___ 2?5 D6== E96> 7@C Sg_[__` ;FDE D@ D@>63@5J H2D 8@:?8 E@ FD6 :E]k^Am
kAmkDEC@?8mx? 2 =@E @7 H2JD[ E9@F89[ :E’D 364@>6 E96 >@56=] (96? J@F =@@< 2E E96 5:DEC:4ED E92E 2C6 ECJ:?8 E@ 86E C6\6?6C8:K65 ?@H[ A6@A=6 <:?5 @7 =@@< 2E `a$@FE9 2?5 D2J[ “~<2J[ H6’C6 8@:?8 E@ 5@ E92E]”k^DEC@?8mk^Am
kAm*629[ :E H2D 8C62E 3642FD6 :E H2D 2 D<:??:6C DEC66E] $@ J@F 4@F=5 5@ EC277:4 ,4@?EC@=. >62DFC6D] !6@A=6 H6C6 4@?46C?65 23@FE D276EJ[ 325 D:56H2=<D 2?5 =:89E:?8[ D@ H6 D=@H65 E96 EC277:4 5@H? D@ A6@A=6 H@F=5 DE@A] (6 5:5 @?6 D64E:@? @7 E96 DEC66E ;FDE E@ D9@H42D6 H92E H6 4@F=5 5@] {2E6C @?[ H6 8@E E96 DEC66E 7:?:D965 2?5 AFE :? A=246 =:89E:?8 DE2?52C5D 2?5 E96 H9@=6 E9:?8 E@ >2<6 :E H92E :E :D ?@H] xE D66>D =:<6 2? :?DE2?E DF446DD a_ J62CD =2E6C]k^Am
kAmkDEC@?8m*@F H@C<65 H:E9 q:== !FC46== @? E96 `a$@FE9 :>AC@G6>6?ED 2?5 J@F’G6 925 E96 492?46 E@ H@C< 2=@?8 E96 H2J H:E9 6G6CJ3@5J 7C@> !9:= qC656D6? E@ |682? q2CCJ E@52J] %96C6 92D 366? 2 C62= 4@?E:?F:EJ :? E6C>D @7 AF3=:4 :?G6DE>6?E :? ?6:893@C9@@5D] w@H >F49 92D E92E A=2J65 2 C@=6 :? H92E J@F 92G6 366? 23=6 E@ 5@nk^DEC@?8mk^Am
kAm%96C6 2C6 AC@323=J 5:776C6?E DE286D @7 >J 42C66C H:E9 6249 @7 E96>] qC656D6? AFE E@86E96C E96 DJDE6> 7@C 8C66?H2JD] p?5 ?@H[ 9@H >2?J J62CD =2E6C[ x’> E96 AC6D:56?E @7 vC66?H2JD 7@C }2D9G:==6] (6 92G6 =2:5 5@H? a`d >:=6D @7 A2G65 AC6>:F> A2C< EC2:=D 2?5 H6’C6 23@FE E@ 92G6 2 EC2:=\@C:6?E65 56G6=@A>6?E 5:D4FDD:@? H:E9 E96 &C32? {2?5 x?DE:EFE6] *@F 92G6 E96 C:G6C7C@?E A2C<D :? A=246]k^Am
kAm!FC46== 5:5 2 =@E @7 H@C< H:E9 D:56H2=<D 2?5 :>AC@G6>6?ED D@ E92E E96 ?6:893@C9@@5 4@>>6C4:2= 5:DEC:4ED 4@F=5 :>AC@G6[ D@ E96J 4@F=5 4@>6 324< 2?5 D66 >@C6 C6EC@7:ED @7 9@FD:?8] p?5 E96?[ s62? 42>6 :? 2?5 D6E E96 4@FCD6 7@C 7@FC >2;@C A2C< DJDE6>D] x’G6 366? 23=6 E@ 96=A @FE H:E9 E92E] (6 2=D@ 5:5 2== E96 C:G6C7C@?E A2C<D 5FC:?8 9:D E6C>[ H9:49 2C8F23=J :D @?6 @7 E96 36DE E9:?8D E92E’D 6G6C 92AA6?65 7@C FD — 2?5 2=D@ 7@C @FC |FD:4 r:EJ r6?E6C 8F6DED 4@>:?8 :? 2?5 @FC E@FCD] !6@A=6 D66 E96 4:EJ E9C@F89 2 5:776C6?E =:89E H:E9 2== E92E 5@?6]k^Am
kAmp?5 ?@H J@F 92G6 |682? q2CCJ] $96’D ;FDE =2:5 5@H? D@>6 >@?6J 7@C %96 u2:C8C@F?5D 2?5 D96’D 5@F3=:?8 5@H? @? 36:?8 E96 8C66?6DE 4:EJ :? E96 $@FE962DE]k^Am
kAmkDEC@?8mp?5 :E 2== A=2JD 2 <6J C@=6 :? E96 56G6=@A>6?E @7 @FC 64@?@>J]k^DEC@?8mk^Am
kAm(6==[ 8@:?8 324< E@ 8C66?H2JDi w@H :>A@CE2?E :D H2=<23:=:EJ 364@>:?8n w@H >F49 >@C6 :D 2 9@FD6 @C 56G6=@A>6?E G2=F65 :7 :E’D ?6IE E@ D@>6E9:?8n p?5 E92E 4@F=5 36 2 ?6:893@C9@@5 4@>>6C4:2= 5:DEC:4E @C 8C66?H2JD 2?5 A2C<D] p== E9@D6 E9:?8D 364@>6 >@C6 :>A@CE2?E :? A6@A=6’D 9@FD:?8 49@:46D] $@ H6’G6 =2:5 5@H? 6?@F89 @7 :E[ 2?5 :E <66AD 4@>:?8]k^Am
kAmkDEC@?8m{2J @FE[ :7 J@F H@F=5[ E96 G:D:@? 7@C 4@>A=6E:?8 2 4:C4=6 @7 8C66?H2JD] *@F’C6 3F:=5:?8 @? H92E’D 2=C625J E96C6 @? E96 ?@CE9 D:56]k^DEC@?8mk^Am
kAm%96C6 2C6 EH@ A:646D @7 :E] ~?6[ J@F 92G6 2? :?E6CDE2E6 E92E 8@E =2:5 :? DE2CE:?8 :? E96 ‘f_D] %96C6 H2D DFAA@D65 E@ 92G6 366? 2 8C66?H2J 2D A2CE @7 E92E DJDE6>] xE 8@E G2=F6 6?8:?66C65 @FE @C A@DD:3=J D@>6 A6@A=6 564:565 E92E 92G:?8 2 8C66?H2J :? E96:C 324<J2C5 H2D?’E D@>6E9:?8 E92E H2D 8@:?8 E@ 36 2EEC24E:G6] }@H 6G6CJ3@5J’D 4@>6 E@86E96C 2?5 C62=:K65 E92E J@F 92G6 2 =@E @7 %s~% 62D6>6?ED 2?5 %s~% 72G@CD 86EE:?8 E9@D6 E@ |6EC@ 2?5 =6EE:?8 FD FD6 E96> 7@C 2 8C66?H2J DJDE6> 2?5 6G6? D@>6 A2C<D]k^Am
kAm(6 92G6 2? :?E6CDE2E6 E92E 4@??64ED }@=6?DG:==6 #@25 E@ uC2?<=:? #@25 E@ q6=>@?E E@ a`DE 2?5 (6DE t?5] (9J ?@E FD6 :E E@ 4@??64E A6@A=6 E@ 4@CC:5@CD 2?5 4@??64E A6@A=6 E@ H@C< 2?5 4@??64E E96 A2C<D E92E 6I:DE 7C@> $6G:6C !2C< E@ r6?E6??:2= !2C<n p?5 E96? :7 J@F =@@< 2E :E 2D 2 A:646 @7 2 3:886C =@@A[ J@F’G6 2=C625J 8@E E96 agE9\b`DE 4@??64E@C[ J@F 42? 4@??64E E@ w25=6J !2C< 2?5 E96? 324< E@ E96 %65 #9@56D EC2:=9625] %96? J@F 42? 86E 324< 5@H?E@H?[ 4@>6 E9C@F89 E96 4:EJ 2?5 8@ E9C@F89 #@==:?8 |:== w:==[ H96C6 H6 2=C625J 92G6 E96 8C66?H2J] uC@> E96C6[ J@F 42? =:?< FA H:E9 qC@H?’D rC66<[ E2<6 qC@H?’D rC66< 324< E@ cc_[ 2?5 J@F 42? 86E 2== E96 H2J 2C@F?5 E96 4:EJ]k^Am
kAm%9:D AC@;64E D9@F=5 4C62E6 @AA@CEF?:EJ 7@C =@ED @7 E96 A@AF=2E:@?D E92E D9@F=5 36 36?67:EE:?8 7C@> E96 64@?@>:4 =:7E E92E’D 92AA6?:?8 C:89E ?@H] r96DE?FE w:==[ E92E H9@=6 2C62 36EH66? 32D:42==J uC2?<=:? #@25 E9C@F89 E@ }@=6?DG:==6 :D F?56CD6CG65 2D 72C 2D 8C66?H2JD 2?5 2446DD E@ A2C< DJDE6>D] xE’D E96 D2>6 E9:?8 :7 J@F 8@ ?@CE9 FA E@H2C5D %$&j J@F 92G6 @AA@CEF?:EJ E@ 4C62E6 >@C6 4@??64E:@?D 7@C E9@D6 4@>>F?:E:6D] x E9:?< E92E’D 2? :>A@CE2?E A:646 @7 E9:D 3:8 =@@A] (6’C6 ?@E G6CJ 8@@5 J6E H:E9 @FC 766E 2?5 @FC 3:<6D :? E96 4:EJ] qFE H6 42? =62C?]k^Am
kAmkDEC@?8mp?5 H:E9 E96 62D6>6?ED 2=C625J E96C6[ E96C6’D A@E6?E:2= E@ 3F:=5 4=FDE6CD @7 4@>>F?:E:6D E92E =:?< E@ 6I:DE:?8 2>6?:E:6D 2?5 6I:DE:?8 4@>>F?:E:6D] %92E >:89E 36 E96 72DE6DE H2J E@ 86E E@ 2? 277@C523=6 9@FD:?8 D@=FE:@?]k^DEC@?8mk^Am
kAm(6==[ }2D9G:==6}6IE :D AC@>@E:?8 E96 :56?E:7:42E:@? @7 4@CC:5@CD[ H9:49 >2<6D 2 =@E @7 D6?D6] *@F 2=D@ 92G6 2 AFD9324< DE2CE:?8 :? vC66? w:==D 2?5 t2DE }2D9G:==6 23@FE 56G6=@A>6?E :? E9@D6 ?6:893@C9@@5D] (6==[ E96? J@F 92G6 E@ 2==@H 56G6=@A>6?E @7 E96 4@CC:5@CD 2?5 J@F D9@F=5 288C6DD:G6=J AFCDF6 :E]k^Am
kAm*@F 42? =@@< 2E 2 4@CC:5@C 2?5 D2J E9:D :D 2? @AA@CEF?:EJ E@ 4C62E6 E96 9@FD:?8 ?6IE E@ E96 EC2?DA@CE2E:@?[ 2?5 2=D@ J@F 42? 255 56?D:EJ 2?5 AFE %xu 5:DEC:4ED 2=@?8 E96 4@CC:5@CD] %96? J@F 42? AC6EEJ >F49 4@F?E @? D@>6 277@C523=6 9@FD:?8 H96? E96 56G6=@A6CD 86E :? E@ >2<6 E96:C 56G6=@A>6?ED]k^Am
kAmx7 J@F 5@ E92E 4@FA=65 H:E9 2 EC2:=[ J@F 92G6 5@F3=6] *@F 92G6 4@CC:5@C EC2?DA@CE2E:@? 2?5 E96? J@F 92G6 2?@E96C G:23=6 2DD6E ?62C3J] p?5 :7 J@F FAK@?6[ :E’D 2 8C62E @AA@CEF?:EJ E@ 4C62E6 2?5 E@ AC@E64E E96 H6E=2?5D 2?5 92G6 E649 4@CC:5@CD[ E@ 4C62E6 D@446C 7:6=5D 2?5 5:776C6?E <:?5D @7 E9:?8D 7@C E96 C6D:56?ED H:E9 E96 3:8 A2C< DJDE6>] xE’D ;FDE 2 8C62E @AA@CEF?:EJ]k^Am
kAmkDEC@?8m(96C6 5@ J@F E9:?< E96 AF=D6 @7 E96 4:EJ :D E96D6 52JD :? E6C>D @7 E92E AFD9 7@C C656G6=@A>6?En |2?J A6@A=6 D2J[ “*6D[ H6 H2?E E@ :?G6DE :? E9:D 4@CC:5@C 2?5 E92E ?6:893@C9@@5]” qFE E96C6 2=D@ :D E96 @AA@D:E6 E9@F89E E92E D2JD[ “x 5@?’E C64@8?:K6 >J 4:EJ 2?J>@C6]” (92E’D J@FC 766= 7@C H96C6 E92E A6?5F=F> :Dnk^DEC@?8mk^Am
kAm%96C6 2C6 2=H2JD 8@:?8 E@ 36 A6@A=6 H9@ D2J[ “$=@H 5@H?[ H6 5@?’E H2?E E@ 492?86]” qFE x 5@?’E <?@H E92E H6 42?] (6 4@F=5 4@?EC@= :E] (6 42? D9FE 6G6CJE9:?8 5@H? 2?5 AFE 2 >@C2E@C:F> @? 3F:=5:?8 2?5 ;FDE ?@E C646:G6 2?J3@5J 6=D6] qFE x 5@?’E E9:?< H6’C6 5@:?8 E92E]k^Am
kAmp?5 5:5 x ?@E D66 2 Se 3:==:@? EC2?D:E 2??@F?46>6?E E96 @E96C 52Jn %92E’D H92E H6’C6 E9:?<:?8 23@FE 5@:?8] (6 92G6 E@ 4C62E6 3:886C D@=FE:@?D 7@C H92E’D 92AA6?:?8 367@C6 :E 86ED 29625 @7 FD] x C62==J E9:?< :E’D 62D:6C 7@C A6@A=6 E@ 5:86DE 56G6=@A>6?E @7 E96 4@CC:5@CD] xE’D 62D:6C E92? 92G:?8 D@>6E9:?8 A@A FA ?6IE 5@@C :? E96 324< J2C5]k^Am
kAm%96C6’D 2 A=246 H96C6[ 2D 2 4:EJ[ H6 92G6 E@ 92G6 D@>6 324<3@?6] *@F 42?’E ;FDE 3=@4< E96 56G6=@A>6?E @? 4@CC:5@CD ;FDE 3642FD6 ?6:893@CD 5:5?’E H2?E :E] %92E :D E96 A=246 H96C6 J@F 92G6 E@ D2J “J6D” 2?5 D2J E96 }2D9G:==6}6IE AC@46DD 56E6C>:?65 E92E’D H96C6 H6’C6 8@:?8 E@ AFE :E 2?5 E92E’D E96 C:89E A=246 E@ AFE :E] xE’D 42==65 EC2?D:E\@C:6?E65 56G6=@A>6?E] xE’D 42==65 EC2:=\@C:6?E65 56G6=@A>6?E] xE’D 42==65 H2=<23:=:EJ] p?5 :E’D 8@:?8 E@ 36 E96 >@C6 677:4:6?E H2J 7@C 9F>2?D E@ =:G6]k^Am
kAm~? E96 7=:A D:56[ x’G6 366? H@C<:?8 E9C@F89 E96 ':==286 uF?5 2?5 w2?5D ~? }2D9G:==6[ AFEE:?8 2 =@E @7 >@?6J :?E@ E96:C 9@>6 6?6C8J D2G:?8D AC@8C2>] (6’G6 C6EC@7:EE65 >2J36 a__ 9@FD6D :? E96 (6586H@@5\w@FDE@? ?6:893@C9@@5 7@C 6?6C8J D2G:?8D[ E@ >2<6 DFC6 E92E E96 C@@7D H6C6?’E =62<:?8[ E92E E96 A=F>3:?8 H2D @<2J] %92E H2D D@ A6@A=6 4@F=5 DE2J :? E96:C 9@FD6D[ 2==@H:?8 E96 9@FD:?8 E92E 6I:DED C:89E ?@H E@ C6>2:? 2?5 >2<:?8 :E >2J36 2 =:EE=6 >@C6 G2=F23=6 D@ E92E E96J 5@?’E ;FDE 8@ 5@H?]k^Am
kAmkDEC@?8m#:89E[ E@ <66A 2 962=E9J >:I]k^DEC@?8mk^Am
kAm%92E’D 8@:?8 E@ 36 @?6 @7 @FC 36DE 9@FD:?8 D@=FE:@?D] z66A H92E J@F’G6 2=C625J 8@E :7 J@F 42?] x7 J@F 42? 2==@H D6?:@CD E@ 286 :? A=246 2?5 DE2J 4@??64E65 E@ E96:C 4@>>F?:E:6D[ J@F 42? 4C62E6 >F=E:86?6C2E:@?2= 9@FD:?8 @AA@CEF?:E:6D D@ E92E >2J36 E9C66 86?6C2E:@?D 2C6 =:G:?8 :? E92E 9@FD6 2?5 A6@A=6 42? 4@>6 324<] pD H6 92G6 E96 277@C523=6 9@FD:?8 4@?G6CD2E:@?[ J@F 42? =@@< 2E 5@:?8 E92E 2== 2C@F?5 E96 4:EJ]k^Am
kAmxE D@CE @7 D=@HD E96 86?EC:7:42E:@? AC@46DD 2?5 2==@HD FD E@ 4@?E:?F6 E@ 92G6 2 36EE6C 4@>>F?:EJ] p?5 E96 4:EJ 4@F=5 — H96? J@F E9:?< @7 E96 q2C?6D uF?5 2?5 DEF77 =:<6 E92E — AFE >@?6J E96C6] xE’D 8@:?8 E@ 36 2 =@E 4962A6C E@ 5@ E92E] *@F 42? 4@>6 :? 7@C S`[a__ 2?5 C65F46 E96 6?6C8J 7=@H :? 2 9@FD6 ad A6C46?E] *@F 42? 4@>6 :? H:E9 2?@E96C 49F?< @7 >@?6J 2?5 J@F 42? 7:I E9:?8D 2?5 ;FDE <66AD :E 2== :? A=246]k^Am
kAmkDEC@?8m%92E 5@6D 3C:?8 FA E96 3:886C :DDF6 @7 277@C523:=:EJ] p5G@42E6D 7@C 6I:DE:?8 ?6:893@C9@@5D D2J E92E 6G6CJ E:>6 2 ?6H 56G6=@A>6?E 4@>6D :? — H96E96C :E’D a_ 9@>6D @C a__ 2A2CE>6?E F?:ED — E96C6’D 8@:?8 E@ 36 D@>6 5:DA=246>6?E] xE’D 2=>@DE :?6G:E23=6] (92E 42? E96 56G6=@A>6?E 4@>>F?:EJ 5@ 5:776C6?E=J E@ 36 >@C6 >:?57F= @7 E92E 5J?2>:4nk^DEC@?8mk^Am
kAmp82:?[ x E9:?< 4@CC:5@C 56G6=@A>6?E’D 2 8@@5 E9:?8] %96 &C32? {2?5 x?DE:EFE6 ;FDE 5:5 2 962=E9J 4@CC:5@C DEF5J 2?5 H6 FD65 r92C=@EE6 2D 2? 6I2>A=6] %96C6’D =@ED 92AA6?:?8 @? r92C=@EE6[ 3FE :7 J@F 5C:G6 FA 2?5 5@H? :E[ :E’D DE:== AC6EEJ F8=J 2?5 >@DE @7 @FC 4@CC:5@CD 2C6 AC6EEJ F8=J] !@@C K@?:?8 AC24E:46D[ A@@C 4@56D[ ?@E 6?@F89 56?D:EJ[ 25 D:8?286 6G6CJH96C6[ E@@ 5:77:4F=E E@ 4C@DD[ 52?86C@FD[ ?@ D:56H2=<D[ ?@ A656DEC:2?D[ ?@ 3:<:?8]k^Am
kAm(6 232?5@?65 @FC 4:E:6D[ H6?E E@ E96 DF3FC3D 2?5 4C62E65 F8=J 4@CC:5@CD E@ 86E FD E96C6] }@H H6 ?665 E@ C64C62E6 @FC 4@CC:5@CD H:E9 H2=<23:=:EJ 2?5 3:<623:=:EJ 2446DD :? >:?5 2?5 92G6 E96> 36 4@?E:?F@FD] *@F 92G6 E@ 92G6 ?6:893@C9@@5 4@>>6C4:2= 2E E96 32D6 D@ J@F 5@?’E 4C62E6 2 82A] rC62E6 D@>6E9:?8 D@ E92E :E’D :?E6C6DE:?8 7@C A6@A=6 E@ 86E 7C@> A@:?E p E@ q 2?5 5@?’E 2==@H 56G6=@A6CD E@ 4@>6 :? 2?5 4C62E6 5625 K@?6D H:E9 3:8 H2==D]k^Am
kAmx 8@ E@ '2?4@FG6C 2== E96 E:>6j >J 7C:6?5’D E96 >2J@C @7 E96 4:EJ] xE’D 9:D E9:C5 E6C> 2?5 E96J’C6 92G:?8 2== E96 :DDF6D E92E H6 92G6[ 2?5 >@C6] %96:C 277@C523=6 9@FD:?8 4C:D6D :D D6C:@FD[ 3FE H96? E96J E9:?< @7 EC2?DA@CE2E:@?[ E96J E9:?< @7 4@CC:5@CD] %96J E9:?< @7 EC2?DA@CE2E:@? 2?5 K@?:?8 :? E96 D2>6 3C62E9] *@F 42?’E 92G6 EC2?DA@CE2E:@? H:E9@FE E96 K@?:?8] r2>3:6 $EC66E E96C6 8@6D @FE E@H2C5D E96 2:CA@CE 7C@> 5@H?E@H?] %96J 32D:42==J C6K@?65 E96 H9@=6 @7 r2>3:6 $EC66E 3642FD6 E96J H6C6 8@:?8 E@ AFE :? 2 >2;@C EC2?DA@CE2E:@? DJDE6>] %96J FAK@?65[ 4C62E65 E96 962GJ 56?D:EJ @? E96 C@25 2?5 3F776CD 2?5 56?D:EJ ;FDE @FED:56 :E 2?5 E96? 324< :?E@ E96 ?6:893@C9@@5D] xE H2D ?@E ?646DD2C:=J A@AF=2C[ 3FE ?@H J@F’C6 H2E49:?8 6G6CJE9:?8 92AA6?[ 2?5 :E’D 8@:?8 FA 2?5 :?E6?D:7J:?8 2?5 E96C6 2C6 4C:E6C:2 7@C 277@C523=6 9@FD:?8 H:E9:? E96 H9@=6 E9:?8] xE E@@< D@>6 A@=:E:42= H:== E@ 86E E92E 5@?6 3FE :E’D E96 H2J E96J 4C62E65 H2=<23:=:EJ — 2?5 2== E96 E9:?8D H6 ?665 2D 2 4:EJ — H:E9 EC2?DA@CE2E:@?]k^Am
kAmkDEC@?8mxD E96C6 6?@F89 4@==64E:G6 A@=:E:42= H:== 96C6 :? E@H? E@ >2<6 C62= AC@8C6DD @? EC2?D:Enk^DEC@?8mk^Am
kAmx DFAA@D6 H6 92G6 E96 C68:@?2= EC2?D:E 8C@FA E92E’D H@C<:?8 E@86E96C 2?5 9@A67F==J 6G6CJ3@5J’D @? 3@2C5] qFE x 5@?’E C62==J <?@H E96 2?DH6C E@ E92E BF6DE:@?] %9:D >2J@C :D DEC@?8 2?5 42? 2=:8? H:E9 2== E96 A6@A=6 E92E ?665 E@ 2=:8? 3642FD6 :E’D 96C ?F>36C @?6 :DDF6[ C62==J]k^Am
kAmkDEC@?8mpC6 J@F 92G:?8 7F? E96D6 52JD G6CDFD ECJ:?8 E@ >2<6 >@?6Jn xD E92E 2 72:C 492C24E6C:K2E:@? @7 J@F :? J@FC 42C66C ?@Hnk^DEC@?8mk^Am
kAmxE’D 8@EE6? C62==J 7F? ?@H] xE 86ED >@C6 7F? 2== E96 E:>6] x 2=C625J 92G6 D@CE @7 2 ?6EH@C< @7 2== E96 5:776C6?E <:?5D @7 A:646D :? A=246] u@C :?DE2?46[ H6 ;FDE 3@F89E EH@ AC@A6CE:6D C:89E 2E E96 u2:C8C@F?5D] (9@’D E96 4@F?4:=A6CD@?n r@=3J $=6586] ~z[ x’G6 H@C<65 H:E9 r@=3J :? E96 A2DE] %96 r:G:4 s6D:8? r6?E6C 92D 5@?6 E96 DEF5J[ E96 &C32? {2?5 x?DE:EFE6 :D :?E6C6DE65 :? 96=A:?8 FD E9:?< E9C@F89 E96 56G6=@A>6?E[ vC66?H2JD u@C }2D9G:==6 92D E96 36DE :?E6C6DE :? 86EE:?8 E9:D D64E:@? @7 8C66?H2J 5@?6]k^Am
kAmkDEC@?8m*@F’C6 >2<:?8 :E D@F?5 C62==J 62DJ]k^DEC@?8mk^Am
kAm(6==[ :E :D 62D:6C 3642FD6 J@F AFE :? 2== E96 E:>6 E@ 86E :?G@=G65 :? 2== E96D6 @C82?:K2E:@?D] x 92G6 E96 ':==286 uF?5[ H9:49 92D 8@EE6? >@C6 C@3FDE[ D@ x 42? 4@>6 :? 2?5 D665 ?@?AC@7:ED x’5 =:<6 E@ D66 5@ E96 @E96C H@C< E92E x 42?’E 5@] $@ E92E’D 2?@E96C A:646 @7 :E] u:G6 A6C46?E @7 E96 4@>A2?J 2?5 @7 r@C6 8@6D :?E@ E96 ':==286 uF?5 2?5 ;FDE <66AD A@AA:?8 @FE 2 =:EE=6 96C6 2?5 2 =:EE=6 E96C6] *@F 42? ;FDE <66A 7665:?8 E96D6 @C82?:K2E:@?D E92E 2C6 5@:?8 E92E :>A@CE2?E H@C<] *@F ?665 E@ 6?C:49 E96 2CED[ 6?G:C@?>6?E2= :DDF6D[ 9@FD:?8[ 277@C523=6 9@FD:?8[ D6?:@C 9@FD:?8 2?5 2== E96 E9:?8D E92E J@F H@F=5 E9:?< ?66565 E2<6? 42C6 @7 E@ 92G6 2 8@@5 4:EJ]k^Am
kAm$@ J629[ J@F 92G6 >@C6 7F?] p?5 2=D@ >J H:76[ $96CCJ[ :D 5@:?8 96C E9:?8 H:E9 {6EE6C{@8:4] $:?46 H6’G6 366? E@86E96C[ H6 3@E9 92G6 8C@H? FA[ 8C@H? FA @FC @C82?:K2E:@?D 2?5 8C@H? FA @FC :>A24E :? 4@>>F?:EJ] $96’D C62==J :?E@ 72:C H286D 2?5 AFEE:?8 96C 6>A=@J66D 7:CDE] $96’D 2 D@F89E\27E6C DA62<6C 2?5 ;FDE 5J?2>:4 :? E92E H2J] p?5 H6 5@ =:<6 E@ ;FDE E2=< 23@FE E9@D6 E9:?8D] (6 4@>6 :? 2?5 H6 86E 6I4:E65 23@FE H92E H6 5:5 E@52J H:E9 @FC 3FD:?6DD6D]k^Am
