Mac Terminal - disable blinking text

Working on my Mac OS X system, when I use the ls command on a remote system, that system is configured to show blinking text for all files ending with the ".sh" filename extension. If you've ever had to look at blinking text when trying to read output from an ls command you know that can be really annoying. (Is there ever a time that blinking text isn't annoying?)

So, to disable blinking text in the Mac OS X Terminal application just follow these steps: