This Could End the Megabuyout Drought.
That’s because BMC is essentially a strategic buyer that can afford to pay up because of the potential synergies it can extract.
If that sounds familiar, it’s because it’s the same dynamic that facilitated the most recent (and only) megabuyout since Dell: Apollo Global Management’s $12.3 billion acquisition of ADT Corp., which was combined with Protection 1, another home-security company owned by the New York firm.
So how would the math work?
Even including an average 25 percent deal premium, CA isn’t expensive at around 11.1 times its projected fiscal 2018 Ebitda or 4 times its revenue: Bain and Golden Gate will likely have to come up with a chunk of equity, but that can be minimized if CA’s largest shareholders — Martin Haefner and Careal Holding AG, the holding company of Haefner and his sister — commit to rolling all or part of their collective 25 percent stake in the company.
CA’s enterprise value, including a deal premium, is already roughly $16.5 billion and BMC itself already has more than $6 billion of outstanding debt, according to data compiled by Bloomberg.
That would result in a leverage ratio of almost 9 times the combined company’s Ebitda, which is high, but not uncommon for software companies.
There is one potential sticking point to a deal: Jefferies analysts have flagged potential antitrust issues in the mainframe market, which they describe as an oligopoly controlled by CA, BMC and IBM.
No doubt, this megadeal will test the buyout market.
This assumes 2 percent annual Ebitda growth for BMC, whose financials haven’t been available since its buyout.

Ms. Grenier presented a map showing the change in flooding on the landscape between the historical and the modern Delta.
Almost at any time of the year, something was flooding; certainly the tidal areas, but a lot of the basin flooding actually happened for many months because of the complex timing.
“With the riparian habitat that’s left, there are actually a lot of bits of riparian all over the place, but they’re not in a pattern that makes sense.
But looking overall at how much shallow water habitat there is now compared to historically, there’s about 2 times as much now as historically, so I think that’s really interesting that there’s been a lot of the focus in the last 10-20 years on the need to restore shallow water habitat to make food for fish.
I think that thinking about the changes in the types of shallow water habitat and what are they adjacent to and how much do they flood – those processed based landscape based approaches are going to help us answer this question.” She then turned to discuss how the channels have changed, presenting a map of the historical channel network with the historical network shown in blue and the yellow-gray lines depicting the channels as they are today.
“Time scale – we can’t expect restoration to happen in five years … we need to allow habitats to evolve and we need to allow plant succession to happen, so trying to let that be okay that these natural processes are going to take more space and more time than we might like.” People: “People are the crux of this whole ecosystem that we’re talking about in the Delta … there are a lot of stakeholders in the Delta that don’t live here as well, and so involving those people in the process so they can appreciate why these things are important and how they should be done most efficiently.” From this landscape resilience framework, they developed a simple conceptual model to try and help people think about the expectations of what can be restored.
“We’ve changed the flows, we’ve changed the setting, we’ve changed the sediment supply, and the way things are connected.
We’ve created novel habitats and types of land uses and so we’re not getting all of the ecological functions any more.
Some of them are all the way gone, some of them are sort of stuttering along.” “The idea with restoration is we can restore some of the physical processes – not all the way to the historical level, but enough that that can then interact with the landscape where we’ve restored habitat, we’ve created redundant patches, large patches, connectivity, all the things and that can help us bring back the functions that we want,” she said.
“We’re still thinking about restoring marshes for wildlife, so one of our guidelines for restoring marsh based processes is marshes should be as big as possible.

NOTICE OF PUBLIC WORKSHOPS: 2018 Joint Triennial Review of the Water Quality Control Plans for the Sacramento River and San Joaquin River Basins and the Tulare Lake Basin.
From the Central Valley Regional Water Quality Control Board: The Central Valley Regional Water Quality Control Board (Central Valley Water Board) is beginning the process of reviewing its Water Quality Control Plans for the Sacramento River and San Joaquin River Basins and for the Tulare Lake Basin (Basin Plans).
The Basin Plans cover all the watersheds of the Central Valley from the Oregon state border to the northern tip of Los Angeles County.
The Central Valley Water Board staff will hold two public workshops to receive comments on basin plan elements that may need amendment.
The purpose of the triennial review is to identify high priority basin planning issues that the Central Valley Water Board will direct basin planning efforts over the next three years.
While Central Valley Water Board members may be present, no action will be taken on the triennial review during these workshops.
The public workshops are scheduled as follows: Date: 16 August 2017 Time: 1:00 pm Place: Central Valley Water Board office 1685 E Street Fresno, CA 93706 Date: 23 August 2017 Time: 1:00 pm Place: Central Valley Water Board office 11020 Sun Center Drive, Suite 200 Rancho Cordova, CA 95670 The workshop facilities will be accessible to persons with disabilities.
Staff will provide an update to the Central Valley Water Board as an information item during its August 2017 Board meeting and will include a summary of written comments submitted by 31 July 2017.
Comments on either Basin Plan may be presented at either workshop.
Following the workshops, staff will review oral and written comments and prepare final recommendations in work plans for Central Valley Water Board consideration at a future public hearing.

Recent drought, rainfall create brutal mosquito population boom.
Lee County is seeing the mosquito population explode.
The mosquitoes just eat you up alive," said Juliette Bruni.
"The last time we really saw these numbers was around 2011."
Shelly Redovan of Lee County Mosquito Control says the drought we had earlier this year allowed for mosquitoes to lay extra eggs.
If they grab 300 mosquitoes during that time, that’s considered bad.
Lately, she says they’ve been catching more than 1,000 at a time.
Redovan said the bulk of the mosquito explosion are pest insects, but she does warn the mosquitoes that do carry viruses are also on the rise.
Redovan said that as long as breaks in the rain continue, they will spray to bring the mosquito population down by starting with the worst areas first.
As of now, there are no cases of travel-related cases of Zika in Lee County.

"So I decided to leave and take my children back to my mother’s."
Abdi Buhad is part of a group of women and men – drawn from community members, police officers, journalists, health workers, and non-governmental organizations, among others – who last year set up a gender support desk and hotline in Wajir for victims of violence.
If the allegation is found to be substantiated and the victim is willing to come forward, the gender desk helps her bring the case to court.
"They (elders) will order the culprit’s clan to give the victim’s family 100 camels, as punishment, which never go to the victim anyway," she said.
Fatouma Mohammed, whose daughter’s case is now being tried before a Wajir court, thanks to support from the gender group, said both of them routinely receive hate threats from her brother-in-law’s family.
Adan said that in the past year nine cases of violence against women and girls have been tried, all of which resulted in jail sentences.
In addition to seeking justice for victims of violence, the gender desk aims to shift traditional, patriarchal attitudes towards women and girls.
Abdi Buhad said the group is trying to make men part of the solution, by identifying "gender champions" and convincing those men to speak out on local radio against violence and to promote gender equality.
Funding also would help the group build a much-needed shelter for victims of sexual violence, she added.
Mariam, who now refuses to venture outside her home alone, said she "almost wants him (her uncle) to be exonerated, so we can try to forget about all of this".

Nearly 1,000 feet below the bed of the Dead Sea, scientists have found evidence that during past warm periods, the Mideast has suffered drought on scales never recorded by humans — a possible warning for current times.
Thick layers of crystalline salt show that rainfall plummeted to as little as a fifth of modern levels some 120,000 years ago, and again about 10,000 years ago.
Today, the region is drying again as climate warms, and scientists say it will get worse.
"All the observations show this region is one of those most affected by modern climate change, and it’s predicted to get dryer.
The landlocked Dead Sea, straddling Israel, Jordan and Palestinian lands, is earth’s lowest spot on land.
In recent years, its level has dropped about four feet a year.
In 2010, scientists from a half-dozen nations drilled 1,500 feet into the deepest part of the seabed, bringing up a cross section of deposits recording 200,000 years of regional climate history — the longest such archive in the Mideast.
About halfway down they found salty layers some 300 feet thick, indicating a long-term drop below the sea’s current level.
In the most extreme periods, it went down 80 percent, and this lasted for decades to centuries at a time.
"Our study shows that in the past, without any human intervention, the fresh water nearly stopped flowing.

Despite the fact we’ve had a normal amount of rainfall this year, the Amarillo city government is considering starting stage one of our drought contingency plan.
Currently, Amarillo can produce approximately 100 million gallons of water per day.
On June 14, we consumed a 92.6 million gallons of water.
"There’s no reason to panic, we still have water but there is a production limit of 100 million gallons a day," said Jonathan Gresham the Assistant Director of Utilities.
This is largely due to outdoor watering for grass, gardens, and landscaping.
If we consume above 80% of the city’s production limit for five consecutive days, the Utilities Department will recommend going to stage two in the drought plan.
Set your sprinkler system to water between sundown and 10:00 AM.
Check your system once a month to ensure there are no leaks or misguided sprinkler heads.
Turn off shower while soaping.
Switch to low water consumption appliances.

Angola: Government launches drought, desertification projects.
This is contained in a press release reached Angop on Tuesday, on the World Day to Combat Drought and Desertification, celebrated on Saturday and which referred to Cunene province.
According to the source, the southern Cunene province has been hit hardest by the Drought, affecting the social and economic condition of citizens, as well as the environment balance.
It has to do with the Land Rehabilitation and Pasture Management project in the agro-pastoral production systems of small producers in south-west region of Angola (RETESA).
The four-year project started in 2014 and covers areas of Namibe, Huíla and Benguela.
This also include the project called Integration of Climate Resilience in Agricultural and Pastoral Production Systems, underway since 2016, through the management of soil fertility in vulnerable areas using the Field Schools approach (IRCEA).
RETESA’s objective is to strengthen the capacity of the agro-pastoral sector of small producers to mitigate the impact of land degradation processes and rehabilitation of degraded lands through the integration of management technologies.
Adapt vulnerable provinces to minimise climate risk in agro-pastoral systems, train about 115,000 farmers to adopt climate change mitigation practices and integrate aspects of climate change into national agricultural and environmental policies and programmes, of IRCEA.
The World Day to Combat Drought and Desertification is celebrated annually on 17 June.

Depending on conditions, Texas could be drought free by September.
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AUSTIN (Nexstar) — Even though we’re just getting into the thick of summer, Texans could see relief in the fall, after the latest data from the Texas Water Development Board indicated drought conditions could improve.
Based on current forecasts, Texas is expected to have a wetter summer this year, and if that holds TWDB expects drought conditions will be removed over most of the state by the end of September.
Austin resident Ariana Garza said she’s glad to see lake levels up in in the area.
“And of course, a key question is what’s going to happen through this summer across Texas?” KXAN Tropics Watch “Texas is extremely varied from the swamps of Houston all the way to the deserts of El Paso, so the way drought expresses itself is also very different,” Mace explained.
“Continue to conserve water,” he mentioned.
“If you’re in a drought, for obvious reasons you want to preserve your water supply, because you may need it down the line if the drought continues.
If you’re out of a drought, it’s not a matter of if there’s going to be another drought, it’s really a matter of when there’s going to be another drought.
So everything that we can do today to use water the most efficient way possible helps us and the folks around us.” To access the Texas drought monitor, click here.

Three individuals in the league have scored as many, or more, goals than United.
Brown will be in uniform Wednesday.
In 14 appearances, he scored three goals.
“Hopefully it will translate to more offensive production.” Since a 3-1 victory at Atlanta in late April, United has gone 665 minutes in league matches without a goal in open play.
United is last among 22 teams in goals (10), last in assists (four), tied for 19th in shots, 18th in shots on goal and 18th in corner kicks.
Last year, with the team in a similar bind at 4-6-5 with 14 goals and seven scoreless efforts, United’s economical moves paid off.
“We also know how quickly things can change in this league.
Kamara, 23, has made nine league appearances (two starts) and scored once since arriving in May 2016.
Records: D.C. 4-8-3, 15 points; Atlanta 6-6-3, 21 points.
D.C. probable starters: GK Bill Hamid; Ds Chris Korb, Steve Birnbaum, Kofi Opare, Taylor Kemp; MFs Lloyd Sam, Marcelo Sarvas, Luciano Acosta, Ian Harkes, Patrick Nyarko; F Jose Guillermo Ortiz.