Version e-book

=
, 1
¶ /
$ 1 '
9
, 9 ( =
/ (
) $ 1 = , 1 $ 7
$ 8 7 5 ( 0 ( 1 7
=LQ¶/DQG6HSWHPEUH*UDWXLW1ƒ,661
=LQ·/DQG
)(67,9$/ %' '(/&2857 +$5$-8.8
/ , 9 5 ( 7 2 ) ) , & , ( /
&HWWHSDJHDpWpYRORQWDLUHPHQWODLVVpHEODQFKHDILQGHYRXV
SHUPHWWUHGHUHSDUWLUDYHFXQHEHOOHGpGLFDFHG¶XQGHVVLQDWHXU
(GLWR
&Upp LO \ D TXDWUH DQV SRXU IrWHU OHV DQV GH OD PDLVRQ G
pGLWLRQ GH
EDQGHGHVVLQpH'HOFRXUWOHIHVWLYDO%''HOFRXUWGH%HUF\9LOODJHDUDSL
GHPHQWJDJQpVHVOHWWUHVGHQREOHVVHQRQVHXOHPHQWHQHQFKDQWDQWOHV
DPDWHXUVGHEDQGHGHVVLQpHHWOHVSURPHQHXUVGHODFRXU6DLQWePLOLRQ
DYHFVHVDQLPDWLRQVHWVHVGL]DLQHVG
DXWHXUVHQGpGLFDFHGDQVOHVUXHV
PDLVDXVVLHQV
LPSRVDQWFRPPHO
XQHGHVPDQLIHVWDWLRQVPDQJDOHVSOXV
DFWLYHVGH)UDQFH
&HWWH LPDJH V
HVW LPSRVpH QRWDPPHQW JUkFH j O
+DUDMXNX TXL FHWWH
DQQpHHQFRUHUHoRLWODILQHIOHXUGHVMHXQHVDXWHXUVGHIDQ]LQHVG
LQVSL
UDWLRQ PDQJD YHQXV GH WRXWH OD )UDQFH SRXU SUpVHQWHU OHXU WUDYDLO DX
SXEOLFSDULVLHQ
=LQ
ODQGQpGHO
DVVRFLDWLRQGHVeGLWLRQV'HOFRXUWHWGH0pOX]LQHDSRXU
EXWGHYRXVDQQRQFHUOHVDFWLYLWpVGXIHVWLYDOHWELHQV€UGHYRXVSUpVHQ
WHUOHVIDQ]LQHVGXFRPLFNHWTXLYRXVDWWHQGHQWSHQGDQWGHX[MRXUVGDQV
OHSDUFGH%HUF\
9RXVWURXYHUH]GDQVVHVSDJHVGHQRPEUHXVHVLOOXVWUDWLRQVGHVWDQGVGH
IDQ]LQHV (W FRPPH QRXV SHQVRQV j WRXW YRXV WURXYHUH] pJDOHPHQW HQ
ILQGHOLYUHWXQHSDJHEODQFKHSRXUOHVGpGLFDFHVGHVDUWLVWHV
/HVeGLWLRQV'HOFRXUWHW0pOX]LQHYRXVVRXKDLWHQW
XQIHVWLYDOHQVROHLOOpHWSOHLQGHERQQHKXPHXU
/HVeGLWLRQV'HOFRXUWHWO
$VVRFLDWLRQ0pOX]LQH
=LQ
/DQG)HVWLYDO%''HOFRXUW HVWpGLWpSDUO
DVVRFLDWLRQ0pOX=LQHUXH
7HUUH1HXYH3DULVKWWSZZZPHOX]LQHRUJ/LYUHWJUDWXLW¼GHSRUW
'LUHFWHXUGHSXEOLFDWLRQUpGDFWHXUHQFKHI *pUDOG*DOOLDQR
3DUWHQDULDW 0DXG%HDXPRQW*pUDOG*DOOLDQR
0DTXHWWH &ODLUH)DYLOOLHU
,PSULPpFKH]&25(3%HDXERXUJUXH%UDQW{PH3$5,6
qUHpGLWLRQVHSWHPEUH'pS{WOpJDOVHSWHPEUH1XPpURG
,661
/HVLPDJHVVRQW‹OHXUVDXWHXUVWRXVGURLWVUpVHUYpV
/HGHVVLQGHODFRXYHUWXUHHVW‹-RDQQ6IDUWRXVGURLWVUpVHUYpV
5HPHUFLHPHQWVj7KL0DXGHW0DULH3DXOH'HOFRXUW$QWRLQH%HH]<DR1HNRPL[
0RUJDQ0DQJDMLPDJ*HUVHQGHHW&KULVWLDQ.D]H/DXUHQW&R\RWH'HOSKLQH5RX[
6WpSKDQLH%HUW-DFN\/D]]pULQLHW-HDQ3DXO'XFRXUWLRX[61&))ORUHQFH3OD\HOIDLQVL
TX
jWRXVOHVIDQ]LQHX[SRXUOHXUFRQILDQFH
=LQ· /DQG G
6RPPDLUH
3DJH
)LFKHWHFKQLTXHGXVDORQ
3DJH
3DUFRXUVMHXQHVVH
3DJH
3DUFRXUVEG
3DJH
3DUFRXUVPDQJD
3DJH
/HFRVSOD\
3DJH
3URMHFWLRQGHMDSDQLPDWLRQjO¶8*&
3DJH
$VVRFLDWLRQ<DRL
3DJH
%RQJ
3DJH
&LUFOH
3DJH
(PDWVXUL
3DJH
$VVRFLDWLRQ(YLO7RWRUR)DQ]LQH)XU\R
3DJH
/HV(QIDQWVGX6ROHLO
3DJH
0'0 3URGXFWLRQ
3DJHV
3ODQGXFRPLFNHW
3DJHV
/LVWHGHVVWDQGV
3DJH
0pOX]LQH-DQXV\
3DJH
0LNRPL
3DJH
2QLJLUL
3DJH
5HG(DUWK&KURQRORJ\
3DJH
6WXGLR$GRO\V
3DJH
-HXGHSLVWHGHV*HW%DFNHUV
3DJH
1RX[
3DJH
6WXGLR6F\WKH
3DJH
7KH&KDPDOORZ
3DJH
<XP<XP6WXGLR
3DJH
(VSDFHGpGLFDFH
H
=LQ· /DQG )HVWLYDO%''HOFRXUW
)LFKH7HFKQLTXH
2UJDQLVDWLRQ
/HV(GLWLRQV'HOFRXUW
/LHXGXIHVWLYDO
%HUF\9LOODJHFRXU6DLQW(PLOLRQHWSDUFGH%HUF\
$FFqVHQPpWUR
6WDWLRQ&RXU6W(PLOLRQPpWUR
$FFqVHQYRLWXUH
3DUNLQJV6DLQW(PLOLRQRX%HUF\7HUURLUV
6LWHZHERIILFLHO
KWWSZZZHGLWLRQVGHOFRXUWIULQWHUQDO%HUF\
&RVSOD\
6DPHGLHWGLPDQFKHGHKjK
(QWUpHJUDWXLWH
3URMHFWLRQGHMDSDQLPDWLRQjO¶8*& %HUF\9LOODJH
OHVHSWHPEUHjSDUWLUGHK(QWUpH¼
)DLUHGHVpFRQRPLHV 6LOHWHPSVOHSHUPHWQRXVYRXVLQYLWRQVjSUHQ
GUHGHTXRLSLTXHQLTXHUVXUODSHORXVHGXSDUFGH
%HUF\
F <XP<XP 6WXGLR 9RXV SRXYH] DXVVL DFKHWHU GH OD QRXUULWXUH GDQV
OHV QRPEUHX[ FRPPHUFHV HQYLURQQDQWV 5XH
%DURQ/HUR\RXYHUVODUXH-RVHSK.HVVHO
$OOLDQ$OYHLQ
6WDQG<XP<XP6WXGLR
KWWSSHUVRZDQDGRRSRQ\WRSLD
HN =LQ· /DQG (QILQ SRXU FHX[ TXL VRXKDLWHQW PDQJHU DXWRXU
G
XQH ERQQH WDEOH %HUF\ 9LOODJH HVW XQ HQGURLW
LGpDO
DYHF
VHV
QRPEUHX[
UHVWDXUDQWV
+LSSRSRWDPXV 3DUWLH GH &DPSDJQH /D
&RPSDJQLH GHV FUrSHV OH 9LQHD &DIp 7KH )URJ
7SRXUFDIpHWOH&OXE0HG:RUOG
+RUDLUHV
9HQGUHGLGHKjK
6DPHGLGHKjK
'LPDQFKHGHKjK
3URMHFWLRQGHMDSDQLPDWLRQjO
8*&%HUF\
9HQGUHGLGHKjK
&RPLFNHWGDQVOHSDUFGH%HUF\
6DPHGLHW'LPDQFKHGHKjK
=LQ· /DQG I
3$5&2856 -(81(66(
6e$1&(6'('e',&$&(6-(81(66(jOD)QDF-XQLRU
81(&+$66($875e6256286/(6,*1('(3(7,79$03,5( 'HQRPEUHXVHV%'jJDJQHUDYHFXQSHXG
DVWXFH
(QDYDQWSUHPLqUHGXIHVWLYDOOHPHUFUHGLVHSWHPEUHGHKjK
5HQGH]YRXV&RXU6DLQW(PLOLRQ3RXUOHVHQIDQWVjSDUWLUGHDQV3UpVHQFH
G
XQSDUHQWREOLJDWRLUH
5(1'(=9286,1e',7$9(&3(7,79$03,5(
9HQH]DVVLVWHUjODSURMHFWLRQG
XQpSLVRGHLQpGLWGXGHVVLQDQLPp
3HWLW9DPSLUH WLUpGHODVpULHGXPrPHQRPGH-RDQQ6WDU
7RXWHVOHVKHXUHVjSDUWLUGHKjOD)QDF-XQLRU
'(66,1(&200(
0D]DQ-XOLH0,VDEHOOH:LOVGRUI0LQK7KDQ7KLHUU\&RSSpH3DWULFN
6REUDOHW)DEULFH3DUPHMRXHQWOHVSURIVHWLQLWLHQWOHVHQIDQWVjOHXUV
WHFKQLTXHVGHGHVVLQ
6DPHGLHWGLPDQFKHVHSWHPEUH$WHOLHUVjKKKK
GXUpHGHPLQGHYDQWODERXWLTXH/RLVLUV&UpDWLRQ
3/21*('$16/(6)21'60$5,16$9(&2&7$9(
$SUqVXQHYLVLWHJXLGpHGHO
DTXDULRSKLOLHOHVHQIDQWVSHXYHQWV
LQLWLHU
DXGHVVLQGXPRQGHPDULQDYHF$OIUHGLOOXVWUDWHXUG
2FWDYHHWOH
FDFKDORW'HQRPEUHX[ORWVjJDJQHU
F &DLOODVVH 3RXUOHVHQIDQWVGHjDQV3UpVHQFHG
XQSDUHQWREOLJDWRLUH6DPHGL
HWGLPDQFKHVHSWHPEUHjKKFKH]$QLPDOLV,QVFULSWLRQDXPDJDVLQ
$83$<6'862/(,//(9$17
8QHFRQWHXVHIDLWGpFRXYULUDX[HQIDQWVOHV&RQWHVHW5pFLWVYLHWQD
PLHQV GH0LQK7KDQXQFRQFHQWUpGHVDJHVVHRULHQWDOHWRXWGURLW
YHQXGX9LrWQDP
6DPHGLHWGLPDQFKHVHSWHPEUHjKKKFKH]1DWXUHHW
'pFRXYHUWHV3RXUWRXWSXEOLF
&DLOODVVH
6WDQG7KH&KDPDOORZ
KWWSWKHFKDPDOORZIUHHIU
J
=LQ· /DQG =LQ· /DQG GM
3$5&2856 %''(/&2857
6e$1&(6'('e',&$&(6%''(/&2857
'HYDQWODOLEUDLULH$OEXPHWGDQVODUXH)UDQoRLV7UXIIDXW
(QFDVGHPDXYDLVWHPSVOHVVpDQFHVGHGpGLFDFHVH
GpURXOHURQWDX&OXE0HG:RUOG
&ODYHU\
-RKDQQD>-@
3RQWLFHOOL
$OIUHG>-@
$OL]RQ
$XJXVWLQ
$XURUH
$\UROHV
%HQJDO
%HUWDLO
%ODQFKDUG
%RUGDV
%RXLOOH]
%UDQWV
%XFKHW
%XVFDJOLD
&DXXHW
&HUTXHLUD
&KDOYLQ
&KLFDXOW>-@
&RSSpH>-@
&RVVHW
&ULSSD
'DPLHQ
'pJUXHO>-@
'HOPDV
'HWKDQ
'URPPHQVFKODJHU
'XYDO)
(VSp
)RXFKLHU>-@
)URLVVDUG
*LRX[
*XDOGRQL
+XEHUW
-DUU\
-XOLH0>-@
/DERXURW
/DSH\UH
/H5RX[
/HUROOH
/XSDQR
0DULROOH
0DUWLQ
0DVERX
0D]DQ>-@
0LFKDODN
0LQK7KDQ>-@
3DUHO
3DUPH>-@
3pFDX
3LFDUG
4XHW
5DEDURW
5LFFL
6HYHVWUH>-@
6IDU>-@
6LHO>-@
6REUDO>-@
9DWLQH
:LOVGRUI>-@
0RVGL
F 5DQQ &HWWHOLVWHGHVDXWHXUVHVWVRXVUpVHUYHGHPRGLILFDWLRQV
/HV\PEROH>-@LQGLTXHOHVDXWHXUV-HXQHVVH
5DQQ
&$57(6'(/e*(1'(6
'pFRXYUH]OHMHXGHFDUWHVjFROOHFWLRQQHUFRQoXGDQVOHFDGUHGHO
R
SpUDWLRQ&DUWHVGH/pJHQGHVHQOLEUDLULH([SOLFDWLRQVGHVUqJOHVGX
MHXHWWRXUQRL5HQGH]YRXVDXSRLQW$FFXHLOGXIHVWLYDO
ZZZHGLWLRQVGHOFRXUWIULQWHUQDOFDUWHV
/(6/$0(6'80$5$,6
9RXVDLPH]OHVGXHOVGHFDSHHWG
pSpH"/
DVVRFLDWLRQ/HV/DPHVGX
0DUDLVRUJDQLVDWULFHGHVSHFWDFOHVG
HVFULPHDUWLVWLTXHSUpVHQWHGHX[
FRXSOHVGHEUHWWHXUVTXLH[pFXWHURQWGHVSDVVHVG
DUPHVLQVSLUpHVGH
ODVpULH'H&DSHHWGH&URFVGDQVOHSDUFGH%HUF\
6WDQG6WXGLR6F\WKH
KWWSVWXGLRVF\WKHIUHHIU
GL =LQ· /DQG =LQ· /DQG K
3$5&2856 0$1*$
/HVDQLPDWLRQVDXURQWOLHXGDQVOH3DUFGH%HUF\GHYDQWOD0DLVRQGX
/DFHWGDQVODFRXUGH6DLQW(PLOOLRQ
(QFDVGHPDXYDLVWHPSVFHOOHVFLVRQWVXVFHSWLEOHVG
rWUHDQQXOpHV
352-(&7,21'(-$3$1,0$7,21¬/
8*&
3UHQH]HQSOHLQODYXH4XDWUHKHXUHVGHGLIIXVLRQQRQVWRSGX
PHLOOHXUGHODMDSDQLPDWLRQ
&LQHPDO
8*&HQWUpHSD\DQWHHXURV9HQGUHGLGHKjK
3UpYHQWHDXZZZHGLWLRQVGHOFRXUWIU
$7(/,(56'(&$//,*5$3+,(
&KH]/RLVLUVHW&UpDWLRQDSSUHQH]jpFULUHHQLGpRJUDPPHVMDSRQDLV
HWUHSDUWH]DYHFYRWUHSUpQRPFDOOLJUDSKLp
,QVFULSWLRQVXUSODFH9HQGUHGLGHKjK
6DPHGLHWGLPDQFKHGHKjKHWGHKjK
&20,&.(7
9RLUSDJHV
$7(/,(5'('(66,1
$YHFO
DVVRFLDWLRQ1HNRPL[DSSUHQH]jGHVVLQHUFRPPHXQPDQJDND
'HQRPEUHX[SUL[jJDJQHU
,QVFULSWLRQVXUSODFH6DPHGLHWGLPDQFKHGHKjK
$7(/,(5'
25,*$0,
5pDOLVH]GHVSURXHVVHVHQSDSLHUjOD)QDF-XQLRUDYHFXQVSpFLDOLVWH
GHO
DUWGXSOLDJHMDSRQDLV
,QVFULSWLRQVXUSODFH9HQGUHGLGHKjK
6DPHGLHWGLPDQFKHGHKjKHWGHKjK
728512,'(3,1*321*
&RPPHGDQVQRWUHPDQJD3LQJSRQJSDUWLFLSH]jXQYUDLWRXUQRL
DQLPpSDUGHVSURIHVVLRQQHOVGHOD))77)pGpUDWLRQ)UDQoDLVHGH
7HQQLVGH7DEOH'HQRPEUHX[SUL[jJDJQHU
,QVFULSWLRQVXUSODFHUXH)UDQoRLV7UXIIDXW6DPHGLHWGLPDQFKHjK
&263/$< /,%5(
9RLUSDJH
,1,7,$7,21$80$66$*(
$FFRUGH]YRXVXQHVpDQFHGHGpWHQWHJUkFHDXPDVVDJHDPPDXQH
WHFKQLTXHMDSRQDLVHUHOD[DQWH
,QVFULSWLRQFKH]2PQLVHQVYHQGUHGLGHKjK
6DPHGLHWGLPDQFKHGHKjKHWGHKjK
-(8 '( 3,67( DYHFOHV³*HW%DFNHUV´
9RLUSDJH
L
=LQ· /DQG F 6RSKLH +LPHQH 6RSKLH+LPHQH
6WDQG1RX[
KWWSZZZQRX[DQLPHDUWFRP
GJ =LQ· /DQG F $GRO\V $N(QJHO
6WDQG6WXGLR$GRO\V
KWWSDGRO\VIUHHIU
GH =LQ· /DQG F $VVRFLDWLRQ <DRL -RMR
6WDQG$VVRFLDWLRQ<DRL
KWWSZZZ\DRLIU
EF =LQ· /DQG F )UHG F 6KRQJ 6KRQJ
6WDQG5HG(DUWK&KURQRORJ\
KWWSVKRQJ\RQJIUHHIU
GF =LQ· /DQG )UHG
6WDQG%RQJ
ERQJRERQJ#IUHHIU
=LQ· /DQG EG
F 5XVW\ 5XVW\
6WDQG&LUFOH
KWWSZZZFLUFOHIUVW
EH =LQ· /DQG *DORX
6WDQG2QLJLUL
KWWSZZZRQLJLULFRP
GN =LQ· /DQG F 9XURUH 9XURUH
6WDQG(PDWVXUL
EJ =LQ· /DQG F 0DULH 7KR 0DULH7KR
6WDQG0LNRPL
KWWSZZZPLNRPLIUIP
FL =LQ· /DQG F )2 &XEH )2FXEH
6WDQG$VVRFLDWLRQ(YLO7RWRUR)DQ]LQH)XU\R
KWWSZZZIXU\RIDQ]LQHFRP
EL =LQ· /DQG F 0L]X 0L]X
6WDQG0pOX=LQH-DQXV\
KWWSZZZPHOX]LQHRUJ
FJ =LQ· /DQG /H&RPLFNHW
79+/DQG
WYKODQG#WYKODQGFRP
0pOX=LQH
JHUDOG#PHOX]LQHRUJ
$VVRFLDWLRQ<DRL
MRPHOR#\DRLIU
/HV(QIDQWVGX6ROHLO
FRQWDFW#HQIDQWVGXVROHLORUJ
$VVRFLDWLRQ,NNL
HGLOJDQ#\DKRRIU
5XGX&KDTXLSHFKH
UXGXBFKDTXLSHFKH#\DKRRIU
5HG(DUWK&KURQRORJ\
VKRQJ\RQJ#IUHHIU
F *LOOHV %URFKH $VVRFLDWLRQ7VXEDVD
*LOOHV%URFKH
6WDQG/HV(QIDQWVGX6ROHLO
KWWSZZZHQIDQWVGXVROHLORUJ
FN =LQ· /DQG KWWSZZZWYKODQGFRP
KWWSZZZPHOX]LQHRUJ
KWWSZZZ\DRLIU
KWWSZZZHQIDQWVGXVROHLORUJ
KWWSLNNLFRUSIUHHIU
KWWSVKRQJ\RQJIUHHIU
NHQVKLQOHR#\DKRRIU
KWWSZZZDVVRFLDWLRQWVXEDVDFRP
1HNRPL[
KWWSZZZQHNRPL[FRP
(GLWLRQVGXFDPSKULHU
GXFDPSKULHU#KRWPDLOFRP
DLOHP#YRLODIU
(YLO7RWRUR)XU\R
<XP<XP6WXGLR
6WXGLR7DNHKRVKL
1RX[
KWWSZZZIXU\RIDQ]LQHFRP
\XP\XPVWXGLR#ZDQDGRRIU
KWWSZZZZDQDGRRSHUVRIUSRQ\WRSLD
OLQRZHQ#WLVFDOLIU
KWWSZZZVWXGLRWDNHKRVKLFRP
VRSKLHKLPHQH#ZDQDGRRIU
KWWSZZZQRX[DQLPHDUWFRP
=LQ· /DQG FI
/H&RPLFNHW
0D\XJH6WXGLR
%HQ%DR*DQEDWH
KRVKLBNB#KRWPDLOFRP
UDSKFKDQ#QRRVIU
KWWSEHQEDRFROOHJHIUHHIU
QRXLOOHV#IUHHIU
1RRGOH
+DPVWHU&RUS
7KH&KDPDOORZ
%RQJ
0'03URGXFWLRQ
2QLJLUL
&KLELPDJ
(PDWVXUL
YXURUH#\DKRRIU
%DODGLQ
DVHOODBODBFRURPELHQQH#KRWPDLOFRP
0LNRPL
6WXGLR$GRO\V
6WXGLR6F\WKH
&LUFOH
FH =LQ· /DQG KWWSQRXLOOHVIUHHIU
EDWRX#IUDQFHGHVXFRP
KWWSZZZIUDQFHGHVXFRP
FDLOODVVH#DROFRP
KWWSWKHFKDPDOORZIUHHIU
ERQJRERQJ#IUHHIU
PGP#UD[[RQFRP
KWWSZZZUD[[RQFRP
GDUD#RQLJLULFRP
KWWSZZZRQLJLULFRP
FKLELPDJ#IUHHIU
KWWSZZZFKLELPDJFRP
F /D SHWLWH DUDLJQpH FKLQDSLQN#IUHHIU
KWWSZZZPLNRPLIUIP
VBDGRO\V#YRLODIU
KWWSDGRO\VIUHHIU
UDQQVDPD#KRWPDLOFRP
KWWSVWXGLRVF\WKHIUHH
VDJDWRWHP#IUHHIU
KWWSZZZFLUFOHIUVW
/DSHWLWHDUDLJQpH
6WDQG0'0 3URGXFWLRQ
KWWSZZZUD[[RQFRP
=LQ· /DQG FE