...ABSTRACT Six years after the housing market crashed in 2008 the primary cause of the crash continues to be debated. Speeches have been made and books have been written on the subject. Observers and analysts have attributed the reason for the housing crisis and its collapse in the U.S. to everyone from home buyers, Wall Street, mortgage brokers, mortgage underwriters, investment banks, rating agencies, investors, low mortgage interest rates, low short-term interest rates, and relaxed standards for mortgage loans. Predatory lending was just one of many factors along this transaction chain. Predatory lending consists of loaning money to consumers in the hope and expectation that they will default and the lender will be able to take the collateral (homes.) We will discuss if the government failed to protect its citizens thru public policy and what role (if any) investments in mortgage backed securities played in the market crash of 2008 as well. While economist continue to debate who or what is at fault. The market crash clearly devastated the U.S. economy. We will also discuss how such devastation is considered to be one of the worst market failures in history. The events leading up to the crash are easier to identify after a crash, the signs were in the forefront and ignored by most people, firms, banks, and the government. Together we will embark on a journey to discover what role predatory lending, mortgage backed securities, and relaxed regulations played in the housing...
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...Cookson Group Financial Analysis Group Members: Word count: 4978 4/30/2010 Cookson CONTENTS 2 1. Introduction ………………………………………………………………………………………………………4 2. Company Profile ………………………………………………………………………………………..……….5 3. SWOT Analysis ………………………………………………………………………………..…………………6 4. Operations Analysis ……………………………………………………………………………..…………….7 4.1 Group Overview…………………………………………………………………………………………………………………………7 4.2 Ceramics Division…………………………………………………………………………………………………………………….8 4.3 Electronics Division…………………………………………………………………………………………………………………11 4.4 Precious Metals Division…………………………………………………………………………………………………………13 5. Sector Analysis …………………………………………………………………………………………………15 5.1 General Industrial Sector ………………………………………………………………………………………………………15 5.2 Industry Conglomerates Subsector……………………………………………………………………………………….16 5.2.1 Industry Conglomerates VS Industrial Machinery and Equipment……………… ………….16 5.2.2 Firms within Industry Conglomerates …………………………………………………………………………17 5.3 Summary…………………………………………………………………………………………………………………………………18 6. Strategy ……………………………………………………………………………………………………….…19 6.1 Central Strategies ………………………………………………………………………………………………………………..19 6.2 Corporate Expansion - Acquisition…………………………………………………………………………………………22 6.3 Response to Financial Crisis…………………………………………………………………………………………………….23 6.4 Future Prospects……………………………………………………………………………………………………………………23 6.5 Comparison with Major Competitors……………………………………………………………………………………….24 7. Financial Analysis ……………………………………………………………………………………………25...
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...THE ECONOMIC DIMENSIONS OF GLOBALIZATION CHAPTER 2 Chapter 2 The economic dimensions of globalization While the globalization process is a complex and multidimensional phenomenon, some of its most visible and influential aspects are economic in nature. This chapter contains an analysis, from a global standpoint, of major trends in trade, investment, finance, macroeconomic regimes and international labour mobility. This analysis covers a long period in history, from the last quarter of the nineteenth century to the present, and is structured according to the successive phases of globalization identified in the preceding chapter. The first section focuses on the development of trade and investment flows among the principal regions of the world, with emphasis on the variable relationship between the expansion of trade and economic growth, the emergence of integrated production systems underpinning the operations of transnational corporations, the primary challenges faced by developing countries as a result of these global trends and the creation of an international institutional framework in the area of trade. The second section contains an analysis of the most important changes that have taken place in international finance and macroeconomic regimes. After reviewing major historical developments in this area, the study focuses on the volatility and contagion which have characterized capital flows in the third phase of globalization, and finally analyses the magnitude and...
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...Longman English Grammar L G.Alexander Consultant- R A. Close, CBE Pearson Education Limited, Edinburgh Gate, Harlow, Essex CM20 2JE, England and Associated Companies throughout the world www longman com © Longman Group UK Limited 1988 All rights reserved, no part of the publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Publishers Distributed in the United States of America by Longman publishing, New York First published 1988 Twentieth impression 2003 BRITISH LIBRARY CATALOGUING IN PUBLICATION DATA Alexander L G Longman English Grammar 1 English language - Text-books for foreign speakers 1 Title 428 2'4 PE1128 LIBRARY OF CONGRESS CATALOGING IN PUBLICATION DATA Alexander, L G Longman English Grammar/L G Alexander, consultant, R A Close p cm Includes index ISBN 0-582-55892-1 1 English language - Grammar - 1950- 2 English language Text-books for foreign speakers 1 Close, R A II Title PE1112A43 1988 428 2'4-dc19 87-22519 CIP Set in 8 on 9 1/2pt Linotron 202 Helvetica Printed in China SWTC/20 Louis Alexander was born in London in 1932 He was educated at Godalming Grammar School and London University He taught English in Germany (1954-56) and Greece (1956-65), where he was Head of the English Department of the Protypon Lykeion, Athens He was adviser to the Deutscher Volkshochschulverband...
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...NYSSA Student Research This report is published for educational purpose only by students competing in the Investment Research Challenge. Industry: Apparel and Accessories Phillips-Van Heusen Recommendation: BUY Price Target: $23.50 4Q $0.6 0.4 0.4 0.7 Year $3.7 3.2 2.3 2.7 P/E 10.7x 5.6x 7.8x 6.6x 2Q $0.8 0.6 0.4 0.4 3Q $1.2 1.0 0.8 0.9 Ticker: PVH Price: $17.90 (as of Jan. 20, 2009) Team J Jan. 26, 2009 EPS 2007A 2008E 2009E 2010E 1Q $1.1 1.2 0.7 0.7 Note: PVH fiscal years are based on the 52-53 week period ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences. PVH: In Strong Position to Weather This Recession Strong Growth from International Licensing, Contributing Higher Margins: Ck Calvin Klein is well recognized as a high-end brand in Asia, and regional licensees are committed to a minimum sales level, according to our interview with local licensees. International licensee Warnaco is still aggressively opening new stores in the new markets. We believe that certain international markets will recover from the global slowdown sooner than the US and will continue to contribute strong growth to PVH. Furthermore, the licensing business contributes a 100% gross margin, which improves overall profitability when the licensing business grows faster than other segments. Margins Maintained Due to Established Relationships with Distributors and Retailers: During the 2000 downturn, distributor‟s margins...
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...DRIVING DEMOCRACY – CHAPTER 4 9/15/2007 2:33 PM Chapter 4 Wealth and democracy Can formal democratic institutions succeed if they are built in societies with inhospitable social and economic conditions? In particular, will attempts to hold competitive elections fail to strengthen democracy in poor and divided nation states, as well as in regions such as the Middle East which are dominated by autocracy? Skeptics point to an earlier wave of institution building, when European-style parliaments were transplanted to many African societies during the era of decolonization, including in Benin and Togo, only to collapse as the military usurped their powers.1 We first need to establish the influence of certain underlying economic and social conditions on democratic consolidation before proceeding to examine the impact of powersharing institutions in subsequent chapters. As Dahl points out, where the underlying conditions are highly unfavorable, then it is improbable that democracy could be preserved by any constitutional design. By contrast, if the underlying conditions are highly favorable, then democratic consolidation is likely with almost any constitution.2 But many cases fall into the muddy middle-ground. The analysis of cross-sectional time-series data illuminates the general patterns and what conditions count, focusing upon examining the role of wealth, the size of nation states, colonial legacies, regional diffusion, and the degree of ethnic heterogeneity. Each of these...
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...BRE Building Elements Foundations, basements and external works Performance, diagnosis, maintenance, repair and the avoidance of defects H W Harrison, ISO, Dip Arch, RIBA P M Trotman BRE Garston Watford WD25 9XX Prices for all available BRE publications can be obtained from: CRC Ltd 151 Rosebery Avenue London, EC1R 4GB Tel: 020 7505 6622 Fax: 020 7505 6606 email: crc@construct.emap.co.uk BR 440 ISBN 1 86081 540 5 © Copyright BRE 2002 First published 2002 BRE is committed to providing impartial and authoritative information on all aspects of the built environment for clients, designers, contractors, engineers, manufacturers, occupants, etc. We make every effort to ensure the accuracy and quality of information and guidance when it is first published. However, we can take no responsibility for the subsequent use of this information, nor for any errors or omissions it may contain. Published by Construction Research Communications Ltd by permission of Building Research Establishment Ltd Requests to copy any part of this publication should be made to: CRC Ltd Building Research Establishment Bucknalls Lane Watford, WD25 9XX BRE material is also published quarterly on CD Each CD contains BRE material published in the current year, including reports, specialist reports, and the Professional Development publications: Digests, Good Building Guides, Good Repair Guides and Information Papers. The CD collection gives you the opportunity to build a comprehensive library...
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...IMPACT OF MINIMUM SUPPORT PRICES ON AGRICULTURAL ECONOMY: A STUDY IN KARNATAKA R S Deshpande T Raveendra Naika Agricultural Development and Rural Transformation Unit Institute for Social and Economic Change Nagarbhavi, Bangalore-560 072 December 2002 18 CONTENTS CHAPTER NO. TITLE PREFACE ACKNOWLEDGEMENTS LIST OF TABLES LIST OF APPENDIX TABLES LIST OF FIGURES/GRAPHS CHAPTER I INTRODUCTION 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CHAPTER II Introduction Making of the Agricultural Policy Need for Revisiting MSP Objectives Methodology Profile of the Selected Regions Plan of the Study Limitations EFFECTIVENESS OF PRICE POLICY AT THE STATE LEVEL 2.1 Introduction Price Policy at the State Level 2.2 2.3 Analysis of Agricultural Price Trends 2.4 MSP as an Incentive Price 2.5 Impact on Input Use Regional Variation in Prices 2.6 Factors Dictating Failure or Success of MSP 2.7 2.8 Towards a Sustainable Policy Annexure 2.1 & 2.1.1 CHAPTER III ADMINISTRATION OF MSP SCHEME AT THE STATE LEVEL 3.1 3.2 3.3 3.4 3.5 Introduction Agricultural Growth and MSP Relevance of MSP for Major Crops of the State Implementation Process of MSP Policy Measures Annexure 3.1 (Govt of Karnataka Order) Annexure 3.2 (Figures) 19 CHAPTER NO. CHAPTER IV TITLE ANALYSIS OF IMPACT OF MSP AT THE STATE LEVEL 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 Introduction Land Use and Crop Pattern Impact of MSP on Area Allocation Decisions Impact of MSP on Adoption of Technology Cost of Cultivation Disposal and...
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...Impact of Competitors on Mobilink GSM Research case from Karachi A report submitted to the Department of Business Administration, University of Karachi in partial fulfillment of the requirement for the degree of BS in Business Administration Prepared by Khushnood Khalid BAC/AIBA/3463/2007 A30719004 Submitted to Department of Business Administration University of Karachi Letter of Transmittal 12th January 2011 To The Director Miss Nighat Mir Adamson Institute of Business Administration Subject: Presentation of report on Impact of Competitors on Mobilink GSM Respected Madam, Here is my report on the study of the Impact of Competitors on Mobilink GSM. This report is made in accordance with the research proposal that is submitted to you. The sample to this report consists on the specified sample frame in the proposal. This report is made to fulfill the report submission in the project thesis course in the BS ( BA ) 4 years program. I have applied the exploratory research to find out the problem related and has used the casual research method in the research methodology. After the data analysis the result is found about Impact of Competitors on Mobilink GSM. I am grateful to Sir Mukarram Saeed to assist me in my report generation. It is because of his efforts that I have been able to conduct this study Sincerely, Khushnood Khalid _________________________ ...
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...Courtesy of L E K A R SPECIAL EDITION Authors: Marino, Paul L. Title: ICU Book, The, 3rd Edition Copyright ©2007 Lippincott Williams & Wilkins ISBN: 0-7817-4802-X Authors Dedication Quote Preface to Third Edition Preface to First Edition Acknowledgments Table of Contents Section I - Basic Science Review Basic Science Review Chapter 1 - Circulatory Blood Flow Chapter 2 - Oxygen and Carbon Dioxide Transport Section II - Preventive Practices in the Critically Ill Preventive Practices in the Critically Ill Chapter 3 - Infection Control in the ICU Chapter 4 - Alimentary Prophylaxis Chapter 5 - Venous Thromboembolism Section III - Vascular Access Vascular Access Chapter 6 - Establishing Venous Access Chapter 7 - The Indwelling Vascular Catheter Section IV - Hemodynamic Monitoring Hemodynamic Monitoring Chapter 8 - Arterial Blood Pressure Chapter 9 - The Pulmonary Artery Catheter Chapter 10 - Central Venous Pressure and Wedge Pressure Chapter 11 - Tissue Oxygenation Section V - Disorders of Circulatory Flow Disorders of Circulatory Flow Chapter 12 - Hemorrhage and Hypovolemia Chapter 13 - Colloid and Crystalloid Resuscitation Chapter 14 - Acute Heart Failure Syndromes Chapter 15 - Cardiac Arrest Chapter 16 - Hemodynamic Drug Infusions Section VI - Critical Care Cardiology Critical Care Cardiology Chapter 17 - Early Management of Acute Coronary Syndromes Chapter 18 - Tachyarrhythmias Section VII - Acute Respiratory Failure Acute Respiratory Failure Chapter 19 - Hypoxemia...
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...Final Report on the Investigation of the Macondo Well Blowout Deepwater Horizon Study Group March 1, 2011 The Deepwater Horizon Study Group (DHSG) was formed by members of the Center for Catastrophic Risk Management (CCRM) in May 2010 in response to the blowout of the Macondo well on April 20, 2010. A fundamental premise in the DHSG work is: we look back to understand the why‘s and how‘s of this disaster so we can better understand how best to go forward. The goal of the DHSG work is defining how to best move forward – assessing what major steps are needed to develop our national oil and gas resources in a reliable, responsible, and accountable manner. Deepwater Horizon Study Group Investigation of the Macondo Well Blowout Disaster This Page Intentionally Left Blank Deepwater Horizon Study Group Investigation of the Macondo Well Blowout Disaster In Memoriam Jason Anderson Senior tool pusher Dewey Revette Driller Stephen Curtis Assistant driller Donald Clark Assistant driller Dale Burkeen Crane operator Karl Kleppinger Roughneck Adam Weise Roughneck Shane Roshto Roughneck Wyatt Kemp Derrick man Gordon Jones Mud engineer Blair Manuel Mud engineer 1 Deepwater Horizon Study Group Investigation of the Macondo Well Blowout Disaster In Memoriam The Environment 2 Deepwater Horizon Study Group Investigation of the Macondo Well Blowout Disaster Table of Contents In Memoriam....................................................................
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...Columbia Project: Use of Software to Achieve Competitive Advantage AUTOMOBILES: TOYOTA MOTOR CORPORATION Gaining and Sustaining Long-term Advantage Through Information Technology Case Prepared By William V. Rapp Co-Principal Investigator The College of International Relations Ritsumeikan University Kyoto, Japan 914-945-0630 (Fax: 914-923-1416; 011-81-75-466-1214) E-mail: william.rapp@aya.yale.edu April 2000 SOFTWARE AS A TOOL OF COMPETITIVE ADVANTAGE: AUTOMOBILE INDUSTRY 1 2 3 4 5 Introduction: Objectives of this Benchmarking Study……………………….…….3 Approach: Methodology and Questions…………………………………………....9 Introduction to Case…………………………………………………………….…10 The Industry Context: The Japanese and Global Automobile Industries………….10 Toyota’s Multi-faceted Global Strategy………………………………….………..21 Smart Production (scheduling, buffer stocks, interactive controls) Smart Design IT and Management of Supplier Networks Smart Marketing Responding to Demand Changes Through Smart Production & Design 6 Smart Car…………………………………………………………………….……...42 Environmentally Smart Cars Intelligent Transportation System (ITS) 7 8 Information Technology Infrastructure and Project Selection………………………60 Summary - Controlling the Future…………………………………………………..68 Exhibit 1 - Promotion Plan for Intelligent Transportation System………………………78 Exhibit 2 - Toyota’s ITS Businesses and R&D………………………………………….79 Exhibit 3 - ITS Evolutionary Development……………………………………………..80 Appendix I Summary Answers to Questions for Toyota...
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...PHYSIC AL CONSTANTS CONSTANT Speed of light Elementary charge Electron mass Proton mass Gravitational constant Permeability constant Permittivity constant Boltzmann’s constant Universal gas constant Stefan–Boltzmann constant Planck’s constant Avogadro’s number Bohr radius SYMBOL c e me mp G m0 P0 k R s h 15 2p"2 NA a0 THREE-FIGURE VALUE 3.003108 m/s 1.60310219 C 9.11310231 kg 1.67310227 kg 6.67310211 N # m2/kg 2 1.2631026 N/A2 1H/m2 8.85310212 C 2/N # m2 1F/m2 1.38310223 J/K 8.31 J/K # mol 5.6731028 W/m2 # K4 6.63310234 J # s 6.0231023 mol21 5.29310211 m BEST KNOWN VALUE* 299 792 458 m/s (exact) 1.602 176 4871402 310219 C 9.109 382 151452 310231 kg 1.672 621 6371832 310227 kg 6.674 281672 310211 N # m2/kg 2 4p31027 (exact) 1/m0c2 (exact) 1.380 65041242 310223 J/K 8.314 4721152 J/K # mol 5.670 4001402 31028 W/m2 # K4 6.626 068 961332 310234 J # s 6.022 141 791302 31023 mol21 5.291 772 08591362 310211 m *Parentheses indicate uncertainties in last decimal places. Source: U.S. National Institute of Standards and Technology, 2007 values SI PREFIXES POWER 1024 1021 1018 1015 1012 109 106 103 102 101 100 1021 1022 1023 1026 1029 10212 10215 10218 10221 10224 THE GREEK ALPHABET PREFIX yotta zetta exa peta tera giga mega kilo hecto deca — deci centi milli micro nano pico femto atto zepto yocto SYMBOL Y Z E P T G M k h da — d c m μ n p f a z y Alpha ...
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...Enticed by the reform of Indian banking sector in the early 1990s and further slowdown in the economy as a result of global financial crisis in late 2000s, the current study analyzes the performance of Indian banks using data envelopment analysis. The performance is measured in terms of technical efficiency, returns-to-scale, and Malmquist productivity index for a sample of 33 banks, consisting of 19 public sector and 14 private sector banks during the period spanning 1995-96 to 2009-10. The jackknifing analysis, followed by the dummy variable regression model is used to identify the outlier and its possible impact on overall efficiency trends. Findings reveal that efficiency scores are robust in the sense that the inclusion of outlier does not affect the overall efficiency trends. The public sector bank is faintly doing better than the private sector banks in terms of (i) technical efficiency since 2003-04 and (ii) scale efficiency from 2000-01 onwards. There is growing tendency of public banks operating under increasing returns to scale, implying that substantial gains could be obtained from altering scale via either internal growth or consolidation in the sector. The difference in the Total Factor Productivity (TFP) change between these two types of banks is found to be statistically significant in favour of public sector banks. The technological change has been the dominating source of productivity growth, whereas, the contribution of pure efficiency change and scale change...
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...Economic Outlook, Prospects, and Policy Challenges 01 CHAPTER This year’s Economic Survey comes at a time of unusual volatility in the international economic environment. Markets have begun to swing on fears that the global recovery may be faltering, while risks of extreme events are rising. Amidst this gloomy landscape, India stands out as a haven of stability and an outpost of opportunity. Its macro-economy is stable, founded on the government’s commitment to fiscal consolidation and low inflation. Its economic growth is amongst the highest in the world, helped by a reorientation of government spending toward needed public infrastructure. These achievements are remarkable not least because they have been accomplished in the face of global headwinds and a second successive season of poor rainfall. The task now is to sustain them in an even more difficult global environment. This will require careful economic management. As regards monetary and liquidity policy, the benign outlook for inflation, widening output gaps, the uncertainty about the growth outlook and the over-indebtedness of the corporate sector all imply that there is room for easing. Fiscal consolidation continues to be vital, and will need to maintain credibility and reduce debt, in an uncertain global environment, while sustaining growth. On the government’s “reformto-transform” agenda, a series of measures, each incremental but collectively meaningful have been enacted. There have also...
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