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Where : Brakpan Airfield. Dates : 15th August Dates : 12th September The Aero Club of South Africa. South Africa was not left out of the interest in aviation that was occurring world wide after the flight by the Wright brothers. John Weston, a civil engineer, began the construction of his own aeroplane in at Brandfort, in the Free State. He lacked an engine with enough power so he dismantled the aircraft and shipped it to France. It is possible that John Weston based his design on a Voisin.
In France he fitted a Gnome rotary engine 50hp and flew it successfully in France in The first aircraft imported to South Africa was a Ralph S. On 18 December the Voisin single-sea engine powered pusher bi-plane of the visiting French aviator M. He managed to achieve an altitude of about 6 meters and a speed of approximately 30 miles per hour. Kimmerling was killed in an aircraft accident on 9 June in Mourmelon, France. The first aircraft designed, built and flown in this country was built by Alfred Louis Raison, based on the design that Louis Bleriot used to fly across the English Channel.
Raison built the aircraft for a wealthy Johannesburg based timber merchant, Cecil Bredell. Bredell flew the aircraft on 2nd May at Highlands North, Johannesburg. On 16 June John Weston made the first flight in Kimberley establishing a South African non-stop flight record of eight-and-a-half minutes in his Weston-Farman biplane.
His energy and drive led to the formation of the Aeronautical Society of South Africa in Cecil Compton Paterson It was the start of the John Weston Aviation Company of South Africa, which did much to popularise flight in the country by touring the main centres and offering flights to the public. One of his passengers at Turffontein Racecourse in Johannesburg was the actress Cressie Leonard who recalled, 'I had dressed for the part in a close-fitting jersey costume, with no motor scarves to vex the propeller.
The crowd roared and I could hear the distant clapping from the stand like rushing leaves. The syndicate had two aircraft - a Bleriot monoplane and a Paterson biplane. The demonstrations were held in the Cape, where the first air mail was transported, in Johannesburg and then Kimberley. These flights brought aviation to public notice. A flying school was established at Alexandersfontein, but no pupils were trained, owing to the liquidation of the Syndicate in September Britain's Royal Flying Corps chose Omega watches in as its official timekeepers for its combat units, as did the U.
Army in By the success of the Omega brand led the La Generale Watch Co to spin off the Omega brand as its own company, and the Omega Watch Co was officially founded in Brandt was the great architect and builder of Omega. The economic difficulties brought on by the First World War would lead him to work actively from toward the union of Omega and Tissot , then to their merger in into the group SSIH , Geneva. Under Brandt's leadership and Joseph Reiser 's from , the SSIH Group continued to grow and multiply, absorbing or creating some fifty companies, including Lanco and Lemania , manufacturer of the most famous Omega chronograph movements.
By the s, SSIH had become Switzerland's number one producer of finished watches and number three in the world. Up to this time, the Omega brand outsold Rolex , its main Swiss rival in the luxury watch segment, although Rolex watches sold at a higher price point. Around this time it was viewed as Rolex versus Omega in the competition for the "King of Swiss Watch brands".
While Omega and Rolex had dominated in the pre-quartz era, this changed in the s during the quartz crisis. That was when Japanese watch manufacturers such as Seiko and Citizen rose to dominance due to their pioneering of quartz movement. In response, Rolex continued concentrating on its expensive mechanical chronometers where its expertise lay though it did have some experimentation in quartz , while Omega tried to compete with the Japanese in the quartz watch market with Swiss made quartz movements. Weakened by the severe monetary crisis and recession of to , SSIH was bailed out by the banks in Two years later this holding company was taken over by a group of private investors led by Nicolas Hayek.
Omega's brand experienced a resurgence with advertisement that focused on product placement strategies, such as in the James Bond films; the character had previously worn a Rolex Submariner but switched to the Omega Seamaster Diver M with GoldenEye and has stayed with the latter ever since until swapping it for the Omega Planet Ocean and Aqua Terra. Omega also adopted many elements of Rolex's business model i.
One of Omega's company slogans is "Omega — Exact time for life". Observatory trials focused on the science of Chronometry and the ability to make chronometers measure time precisely. Only Patek Philippe and Omega participated every year in the trials. Omega's performances at these competitions garnered the company a reputation of precision and innovation. Omega developed the slogan "Omega — Exact time for life" in based on its historical performance at the Observatory trials. The following are some important reference dates for the Omega precision records : [34]. There are concerns over the lack of transparency in manufacturing activities and the sourcing of precious raw materials such as gold , which is a major cause of environmental issues such as pollution , soil degradation and deforestation.
Current models: [48]. Discontinued models: [49]. Current models: [50].
Omega sponsors a number of celebrities to wear and advertise their watches including: [51]. The selection of the " Omega Speedmaster Professional Chronograph" for American astronauts was the subject of a rivalry between Omega and Bulova. All subsequent manned NASA missions also used this handwound wristwatch.
NASA started selecting the chronograph in the early s. Automatic chronograph wristwatches were not available until Even so, all the instrument panel clocks and time-keeping mechanisms in the spacecraft on those space missions were Bulova Accutrons with tuning fork movements, [ citation needed ] because at the time NASA did not know how well a mechanical movement would work in zero gravity. Although Apollo 11 commander Neil Armstrong was first to set foot on the moon, he left his Aldrin elected to wear his and so his Speedmaster became the first watch to be worn on the moon.
He mentions in his book, Return to Earth , that when donating several items to the Smithsonian Institution , his Omega was one of the few things that was stolen from his personal effects. In , to mark the 50th anniversary of the Omega Speedmaster Professional Chronograph, the Omega company unveiled the commemorative Speedmaster Professional Chronograph Moonwatch.
The watch had the distinctive features of the first hand-winding Omega Speedmaster introduced in It was sold in an edition of 1, In both cases, this is the stainless steel model with orange bezel and black dial. We are also pursuing strategic alternatives to pure leasing arrangements, including management agreements, participating leases and other occupancy arrangements with respect to spaces. Some of our agreements contain penalties that are payable in the event we terminate the arrangement. In addition, we have limited experience to date with these types of transactions, and we may not be able to successfully complete additional transactions on commercially reasonable terms or at all.
For example, we have entered into several transactions with our Co-Founder and Chief Executive Officer, Adam Neumann, including leases with landlord entities in which Adam has or had a significant ownership interest. We may in the future enter into additional transactions with entities in which members of our board of directors and other related parties hold ownership interests. Transactions with a landlord entity in which related parties hold ownership interests present potential for conflicts of interest, as the interests of the landlord entity and its shareholders may not align with the interests of our stockholders with respect to the negotiation of, and certain other matters related to, our lease with that landlord entity.
For example, conflicts may arise in connection with decisions regarding the structure and terms of the lease, tenant improvement allowances or termination provisions. Conflicts of interest may also arise in connection with the exercise of contractual remedies under these leases, such as the treatment of events of default. Our leases with landlords generally provide that, if the landlord declines to reimburse us for buildout expenses or other tenant improvement allowances for which we have the right to be reimbursed under the relevant lease, we may apply such receivables as an offset to our related rental obligations on those impacted leases.
Certain of our leases with related parties, including those with landlord entities in which Adam holds a significant ownership interest, provide for tenant improvement allowances. If any of these entities declined to reimburse us for buildout expenses to which we were entitled under the relevant lease, we expect that we would apply such receivables as an offset to our related rental obligations on those impacted leases.
Nevertheless, we may have achieved more favorable terms if such transactions had not been entered into with related parties and these transactions, individually or in the aggregate, may have an adverse effect on our business and results of operations or may result in government enforcement actions or other litigation.
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A significant part of our international growth strategy and international operations will be conducted through joint ventures, and disputes with our partners may adversely affect our interest in these joint ventures. Our international growth strategy has included entering into joint ventures in non-U. Our success in these regions therefore depends on third parties whose actions we cannot control.
Although in the case of certain of these joint ventures we have the right to appoint a majority of the members of the board of directors, there are many significant matters for which we require the consent of our partners in these joint ventures. Our partners in these joint ventures may have interests that are different from ours, and we may disagree with our partners as to the resolution of a particular issue to come before the joint venture or as to the.
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Table of Contents management or conduct of the business of the joint venture in general. In addition, in connection with these joint ventures and other strategic partnerships, we have entered into certain agreements that provide our partners with exclusivity or other preemptive rights that may limit our ability to pursue business opportunities in the manner that we desire.
We may not be able to resolve any dispute relating to our business, operations or management of the relevant joint venture, which could have a material adverse effect on our interest in the joint venture or the business of the joint venture in general. Some of the counterparty risks we face with respect to our members are heightened in the case of enterprise members.
Memberships attributable to enterprise members generally account for a high proportion of our revenue at a particular location, and some of our locations are occupied by just one enterprise member. A default by an enterprise member under its agreement with us could cause a significant reduction in the operating cash flow generated by the location where that enterprise member is situated.
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We would also incur certain costs following an unexpected vacancy by an enterprise member. The greater amount of available space generally occupied by any enterprise member relative to our other members means that the time and effort required to execute a definitive agreement is greater than the time and effort required to execute membership agreements with individuals or small- or mid-sized businesses.
In addition, in some instances, we offer configured solutions that require us to customize the workspace to the specific needs and brand aesthetics of the enterprise member, which may increase our build-out costs and our net capex per workstation added. If enterprise members were to delay commencement of their membership agreements, fail to make membership fee payments when due, declare bankruptcy or otherwise default on their obligations to us, we may be forced to terminate their membership agreements with us, which could result in sunk costs and transaction costs that are difficult or impossible for us to recover.
We are exposed to risks associated with the development and construction of the spaces we occupy. Opening new locations subjects us to risks that are associated with development projects in general, such as delays in construction, contract disputes and claims, and fines or penalties levied by government authorities relating to our construction activities. We may also experience delays opening a new location as a result of delays by the building owners or landlords in completing their base building work or as a result of our inability to obtain, or delays in our obtaining, all necessary zoning, land-use, building, occupancy and other required governmental permits and authorizations.
We seek to open new locations on the first day of a month and delays, even if the delay only lasts a few days, can cause us to defer opening a new location by a full month. Failure to open a location on schedule may damage our reputation and brand and may also cause us to incur expenses in order to rent and provide temporary space for our members or to provide those members with discounted membership fees.