Blog

  • It’s Your Land: Stealing the Beach?

    The gentle, rolling waves embrace the white sand Gulf Coast beaches of Destin, Florida. But the quiet resort community, which likes to call itself “The World’s Luckiest Fishing Village,” is now a heated central battlefield over property rights.

    “The government is taking our waterfront property and making a public beachfront property,” exclaims Linda Cherry, a spitfire with a cause who would seem an unlikely activist. She and her husband Jim, both political communications consultants, own a beachfront home on an exclusive stretch of beach, and have become symbols of what they consider to be the government stealing their beach.

    The issue? The Cherrys say their private property extends to the surf, which means the pristine beach behind their house is their private backyard. When the state deems a stretch of waterfront land critically eroded though, it replenishes the beach in an effort to protect against storm damage. The government puts new sand along the shoreline, effectively extending the beach seaward. Under Florida law though, all new land created seaward of the erosion control line is public property. It’s a policy that Linda Cherry says amounts to the government illegally taking property.

    “The government is trying to take our private property to make more public beach to bring more tourism into the area,” she charges. “If they can do that, they can take anybody’s property.”

    Several beachfront property owners in the area have taken the issue to United States Supreme Court, where a decision is expected soon. The high court is weighing the issue of property rights versus state law, and the drama centers on the white sand beaches that run for seven miles along the Florida Panhandle.

    “We want to be able to keep our beach; it’s what we paid for, it’s what is described in our deeds,” says Cherry, who organized the group Save Our Beaches to oppose the state’s moves. “When we buy property on the beach we assume that Mother Nature might take our backyard. We don’t expect the government to take our backyard,” she says.

    The city of Destin denies it is land grabbing, only obeying state law. “We don’t believe we are taking private property,” explains the City Manager, Greg Kisela. “We believe that we are simply restoring these beaches and creating new beach,” he says. “It’s not a taking of their property rights. If we’ve done anything we’ve given them free sand to protect their upland structures,” he says of the homeowners. The program is designed to prevent beach erosion and provide “storm protection,” not only for the homeowners but says Kisela, for “the roads, sanitary sewer lines and gas lines.”

    As we talked, couples strolled along the surf past the Cherrys’ house, and they do not disagree with that. It’s the principle of owning property that is unfairly infringed upon, they say, and having their property no longer extend all the way to the water. The Cherrys also point out that when strangers pitch tents on their property, they are not allowed to remove them.

    “Everybody in America who owns property needs to understand if we can lose our property here, our waterfront property in Destin, they can lose their property,” warns Ms. Cherry.

    But the state sees it differently.

    The case is about “protecting the right of the state to preserve critically eroding shorelines for public interest and to protect the existing right for the public to use state-owned portions of the beach,” notes the Deputy Communications Director for the Florida Attorney General’s office, Ryan Wiggins. She says rather than “a taking of any recognizable property interest,” the law “is a governmental ‘giving’ of enormous benefits to beachfront owners that restores, rather than takes or diminishes their properties’ values along severely eroded shores.”

    One private property owner who supports the State is John Comer, whose family owns a beachfront restaurant, The Back Porch, as well as several other restaurants.

    “To us it’s the lesser of two evils,” he says about having suddenly public beach front at the restaurant. As we talked, surfers were riding the waves and a girl was surf casting as diners ate lunch in the balmy breeze. He says if the state does not add to the beach, “then we feel like we’re going to lose our building … because we need the protection from the storms.”

    The restaurant also rents out umbrellas for people to use their beach. But the homeowners are left with waterfront property that really isn’t. And Ms. Cherry is worried about the consequences.

    “Can the government come in and take our waterfront property?” she asks. “If they can do that, then they can take anybody’s property.”

    This is the second in the Fox News series, “It’s Your Land.” Have a land or private property issue? E-Mail Senior Correspondent Eric Shawn at: [email protected]. Reports can also be seen Sundays from 10 to 12 noon, E.S.T. on the Fox News Channel. Save Our Beaches can be reached at: beachfront owners of [email protected].

  • Neighborhoods Matter in Shaping Lives, Researcher Says

    mariasantiago.jpg

    Anna Maria Santiago.
    Photo by MJ Murawaka.

    Having grown up in poverty and lived in substandard housing has brought sensitivity to Anna Maria Santiago’s social work research about how people live and how place affects their lives.

    The Case Western Reserve University campus recently met Santiago, the inaugural holder of the Leona Bevis & Marguerite Haynam Professorship in Community Development at the Mandel School of Applied Social Sciences, during a special reception.

    Currently on the faculty at Wayne State University, Santiago will officially start at CWRU on July 1. Her arrival will build on the social work school’s strength in neighborhood research by faculty members Mark Chupp, Claudia Coulton, Rob Fischer, Mark Joseph, Sharon Milligan and others from the Center on Poverty and Community Development.

    “Place matters,” Santiago says. “Where one lives has a tremendous influence on the resources available to the individual.”

    It’s a finding emerging from her research with hundreds of families in public housing and who are raising thousands of children in Denver.

    Schools, grocery stores, police protection, medical facilities and libraries are the kinds of resources not equally distributed among neighborhoods, Santiago said.

    It was those kinds of resources—and in particular access to training in music and the arts in Milwaukee with progressive social services and neighborhood programs—and her mother’s value of education, Santiago attributes to her success.

    “I would not be where I am today,” she said, noting that the opportunity to master the oboe earned her a college scholarship to the University of Wisconsin at Milwaukee. She later changed her major to geography in the social sciences, with a specialization in the Caribbean and Latin America.

    After working as a social worker in her old neighborhood in Milwaukee, she went on to earn a PhD in urban social institutions from UW Milwaukee.

    Santiago is the lead investigator on two major projects that involve families and children from the Denver Housing Authority: “Not Just Buying a Home: The Effects of Participation in Homeownership Programs On Building Human, Financial and Social Capital Assets of Subsidized Housing Residents and their Children,” funded by The Ford Foundation and the John D. and Catherine T. MacArthur Foundation; and “Magnitudes and Mechanisms of Neighborhood Impacts on Children: Analyzing a Natural Experiment in Denver,” supported by the John D. and Catherine T. MacArthur Foundation.

    The projects will be jointly housed at CWRU and Wayne State after she comes to campus.

    She has concentrated her research on the families living in the Denver Housing Authority, because their self-sufficiency and asset building programs are models of best practices among the 1,500 housing authorities providing such programs.

    Long before it was federally mandated to provide scattered-site housing as an option, Denver’s housing authority had been purchasing homes, fixing them up, and giving families a chance to live in better neighborhoods.

    In previous work, Santiago and colleagues looked at two factors—crime and property values and found neither increased because of the arrival of public housing families. Neighborhoods improved.

    Building upon what is known about low-income European American and African American families, Santiago has created a new niche in neighborhood research by including the Latino community, which is the predominant ethnic group in Denver’s public housing. She is also looking at the role of housing programs on refugee groups such as the Vietnamese.

    In “Not Just Buying a Home,” a longitudinal study over the past 11 years, Santiago has followed 500 families in an asset-building program that has a home ownership component. In the first two years of the program, families are helped with money management and budgeting skills to reduce debt and repair credit. In the third year, the families participate in the Homebuyer’s Club, a 12-month commitment to receive intensive counseling on homeownership to learn about mortgages, home purchases, and other factors associated with buying a house.

    Families, which have completed the program, moved into higher quality neighborhoods, the homes appreciated in this downturn climate and fewer homeowners—only 8 percent compared to an average 16 percent overall for low-income homeowners who did not participate in the program—faced home foreclosures.

    In the study on neighborhood effects on child outcomes, Santiago is following the lives of nearly 2,000 children, who have lived at least two years in public housing during childhood. The study traces where they lived and how they fared across four developmental stages: early childhood; late childhood; pre-adolescence and adolescence.

    Santiago’s new chair—the Bevis & Haynam Professorship—was established by lifelong social workers and friends Leona Bevis (SAS ’43) and Marguerite Haynam (FSM’30, LYS ’31, SAS ’41). In 2009, their combined estate gifts, together with support from friends, peers and an anonymous champion of social service research, created the professorship. Bevis was the first female executive director of the Welfare Federation of Cleveland. Haynam was the executive director of the Travelers Aid Society and a former faculty member at the social work school. In addition, the Frank and Nancy Porter family provided an endowed scholarship in support of the fund.

    For more information contact Susan Griffith, 216.368.1004.

  • All Thumbs: Fernando Alonso’s opposables reportedly insured for £9M

    Filed under: , , , ,

    It’s not terribly uncommon for famous people to insure a body part (or, ya know, a pair of ’em) that’s necessary for them to continue moving forward with their career. For instance, we have no qualms whatsoever with Heidi Klum’s policy that insures her priceless legs for $2.2 million. On the other hand, we’re not so sure Michael Flatley’s kickers are worth their reported $39 million policy.

    Sports figures are also keen to keep their body parts in good working order; David Beckham’s legs and feet are insured for the princely sum of $70 million. Apparently, we can add Formula One racing star Fernando Alonso to the aforementioned list, as his thumbs are now protected with a £9 million (nearly $14 million U.S.) policy from Ferrari F1 sponsor Santander.

    Says a spokesperson for Alonso, who is currently tied with Lewis Hamilton for third place in the F1 Driver’s Championship:

    Alonso’s thumbs are a big symbol as, apart from being essential when driving a Formula One car, they represent a sign of victory and that everything is under control and well protected.

    Thumbs up, Alonso.

    [Source: Telegraph | Image: Paul Gilham/Getty Images]

    All Thumbs: Fernando Alonso’s opposables reportedly insured for £9M originally appeared on Autoblog on Tue, 27 Apr 2010 09:01:00 EST. Please see our terms for use of feeds.

    Read | Permalink | Email this | Comments

  • Solutions Labs 2010: Accelerating Green Innovation at Events Around the Country

    Leading-edge businesses such as IBM, GE, KKR, Walmart and many others are tackling environmental sustainability head on. They are finding profit and spurring innovation by looking through the "green lens" of environmental sustainability. Both business and the environment need more of this thinking from more people in more organizations in more sectors.

    The Solutions Labs 2010 are to here to help. This series of one-day events, kicking off on May 21 in New York City (hosted by Bloomberg), will bring together leading thinkers and "doers" from business, academia and a myriad of organizations to explore the next generation of business sustainability – one in which we can grow profits and positive benefits for the planet.

    The Solutions Labs are the version 2.0 of last year's "Green Innovation for Business Unconferences" held in Washington DC, Boston, San Jose and Austin. An even more diverse and interesting mix of partners are coming together to produce this year's series: Ashoka, Dig In, Environmental Defense Fund, GreenBiz.com, Net Impact, the Society for Organizational Learning, and Sony Pictures, among others.

    The organizers (this blogger included) have grand aspirations for growing the Solutions Labs into an incubator for big ideas. (Think a TED Conference for innovators in the environmentally-sustainable business space.) While that vision may take another year to two to come into focus, what we can promise now is a highly interactive and engaging gathering decidedly different from other green business conference.

    What can you expect? PowerPoint presentations? No. Lengthy speeches or panels? No. Using an "open space" format, each Lab and discussion topic will be slightly different, reflecting the interests of the participants in the room who collectively create the agenda (visit our wiki page where the agendas are created). All will have ample opportunity for networking, small breakout conversations and ad hoc brainstorming.

    So bring your big ideas (and the small ones too) and join us at a Solutions Lab near you:

    May 21 New York
    Bloomberg
    Register
    May 27 Washington, D.C.
    George Washington University
    Register
    June 17 Minneapolis
    Best Buy
    Register
    July 13 Fayetteville, Ark.
    University of Arkansas
    Register
    July 15 San Jose
    eBay
    Register
    Aug. 5 Chicago
    IIT Stuart School of Business
    Register
    Aug. 10 Seattle
    Seattle University
    Register
    Sept. 16 Boston
    Microsoft
    Register
    Sept. 29 Austin
    AMD
    Register

  • Inmetro obriga certificação de catalisadores nos carros


    Uma norma que deveria estar em vigor há muito tempo atrás, finalmente sai do papel e se torna algo obrigatório. Após o dia 3 de abril, todos os tipos de catalisadores de linha leve, onde se incluem os carros movidos a gasolina ou etanol, só poderão ser importados ou fabricados se tiver o selo do Inmetro.

    O meio ambiente agradece essa atitude, uma vez que existem no mercado muitos catalisadores recondicionados, que ao invés de ajudar a evitar a emissão de poluentes, atrapalham ainda mais por não funcionarem direito e os donos dos carros acharem que está tudo bem.

    Agora, com o novo controle de qualidade obrigatório, apenas aparelhos que realmente funcionam serão comercializados (ao menos na teoria). Para dificultar a ilegalidade, o selo de qualidade do Inmetro será colocado na embalagem do catalizador e na própria peça. Os fabricantes e varejistas tem até o dia 3 de abril de 2011 para regularizarem a situação e fornecer produtos de qualidade aos clientes.

    Via | Motorpasion


  • Further CPRS delay too costly for jobs

    The Southern Cross Climate Coalition (SCCC) has expressed deep disappointment about the shelving of the Carbon Pollution Reduction Scheme (CPRS) and warned Australia could not afford to stall its contribution to global action.

    The SCCC* said: “Australian businesses, jobs and investors have had a decade of delay in effective climate policy. Meanwhile, clean energy industries and jobs have been lost to competitors in China, South Korea, and Europe where ambitious clean energy policies are being implemented.

    “Since October last year more than 150 new measures have been announced globally to reduce climate pollution and 32 countries now have emissions trading schemes. Around US$200 billion is expected to be invested in clean energy solutions, in 2010.

    “All political parties and many business leaders are responsible for jeopardising efforts to make the transition to a clean energy economy and growing Australian clean-energy jobs, investment and industries.

    “Shelving serious efforts to reduce Australia’s climate pollution diminishes the positive role that Australia can play in global climate negotiations which will ultimately increase climate and economic risk to the nation.

    “Both parties who have backed the 2020 target ranges for emission reductions now need to explain how these are to be achieved at lowest cost without an economy-wide price signal such as an emissions trading scheme.”

    All political parties should revisit their policies to:

    1. Turn around our still rising climate pollution in the life of the next Government (i.e before 2013) and establish credible plans to achieve at least the 25 per cent reduction target by 2020.
    2. Encourage investment, jobs and profits in clean energy and other climate solutions.
    3. Make large companies responsible for their climate pollution by limiting and pricing emissions.
    4. Implement a carbon price through an emission trading scheme in 2011 at the latest.
    5. Ensure support for low income and vulnerable households as we move to put a price on climate pollution and experience greater climate change impacts.
    6. Establish additional incentives for companies to overcome non-price barriers to invest in large scale investment in clean energy technologies, jobs and industries.
    7. Help households and businesses use energy more efficiently so the whole economy can catch up with other countries that are doing more to avoid costly energy wastage.

    *John Connor, The Climate Institute; Sharan Burrow, ACTU ; Tony Westmore, Australian Council of Social Service; Paul Toni WWF; Tony Mohr ACF.

    For more information: John Connor, Climate Institute, 0413 968 475 or Climate Institute Communications 02 92525200.

  • New poll shows Australians want action

    The Australian Government’s decision to delay the carbon pollution reduction scheme (CPRS) is grossly irresponsible both in terms of the environment and the economy, and is a betrayal to those who voted the Rudd Government in, WWF-Australia CEO Greg Bourne said today.

    It also flies in the face of a new opinion poll which shows an overwhelming 79 per cent of respondents believe Australia should either begin reducing carbon pollution before other countries, or start reducing regardless of when other countries choose to act.

    “It is clear the Australian public wants action now, and not when it is politically beneficial,” said Mr Bourne. “Delaying the scheme elevates opportunism over the welfare of future generations.”

    The Government’s decision ignores environmental and economic advice from a wide range of experts recommending immediate Australian action, including the CSIRO and the Garnaut and Shergold reviews.

    Both Garnaut and Shergold recommended the immediate implementation of an emission trading scheme irrespective of the positions taken by other countries because it would advantage Australia in the long run.

    The new opinion poll of over 4,000 Australians living in metropolitan areas was conducted for WWF-Australia by AMR Interactive. Only13 per cent of respondents said Australia should wait until other countries take action on reducing their carbon pollution.

    Despite the overwhelming public support for action, Australia’s carbon pollution remains the highest per-capita in the developed world. Australia’s carbon pollution is currently growing at twice the world average.

    Respected Australian and international economists charged with assessing options to reduce carbon pollution have all found an emissions trading scheme to be the most efficient, cost effective and environmentally sound method to reduce Australia’s carbon pollution.

    “Australia’s carbon pollution keeps going up and up. The longer we delay setting a price on carbon, the more it is going to cost Australian households and Australian businesses,” said Mr Bourne.

    “No matter where you look, the advice is the same. We need a way to set a limit on carbon pollution and begin reducing it.

    “The Australian Government should negotiate with the Greens and other willing senators to put an interim price on carbon immediately, and then implement an emissions trading scheme by late 2011.”

    Contact: Jonathon Larkin, WWF Press office, 0410 221 410, 02 8202 1216.

  • Investigation into reports of illegal dugong and turtle trade needed

    Traditional Owners and WWF have called for a formal investigation into the presence of unregistered nets in the Great Barrier Reef Marine Park following the recent discovery of three dead dugongs in a net near Cairns.

    The discovery of the dugongs by a navy crew comes on the back of recent anecdotal accounts of sea turtles being targeted for an illegal meat trade in far north Queensland.

    “We are working to conserve these species as best we can while reserving the right to pursue our traditional way of life,” said CEO of the Girringun Aboriginal Corporation Phil Rist, whose organisation represents Traditional Owners south of Cairns.

    “It is highly unlikely that this would have occurred on our sea country because there has been significant investment in management and conservation mechanisms,” Mr Rist said.

    “Any illegal harvesting of these species undermines our efforts to balance traditional activities on our lands and seas with conservation.”

    WWF’s Conservation on Country Manager Cliff Cobbo said the loss of three dugongs was a significant blow to the population of threatened species in the southern part of the Great Barrier Reef.

    “These animals are long-lived and very slow to reproduce and so the loss of three individuals from the southern Great Barrier Reef population is a real set-back to recovery efforts,” Mr Cobbo said.

    “The fact that this net had been set so close to the highly populated area of Cairns and was only discovered inadvertently makes you question what is happening further north where there is even less chance of being caught,” Mr Cobbo said.

    “Increased Indigenous capacity is needed in these areas to conserve threatened marine species and police activities such as the illegal harvest of turtles and dugongs.”

    WWF is calling on the Federal Government to dedicate considerable funding from the $3 billion Closing the Gap budget commitment to create new Indigenous ranger positions on land and sea country.

    The Girringun Aboriginal Corporation and the Gudjuda Reference Group are two north Queensland Traditional Owner groups that have entered into conservation agreements with WWF-Australia to improve protection for the Great Barrier Reef’s marine turtles, dugongs and inshore dolphins.

    For more information:

    Charlie Stevens, WWF Media Manager – Queensland, 0424 649 689
    Cliff Cobbo, Policy Manager – Conservation on Country, 0406 384 288

  • Switch, the Choose Your Own Swiss(ish) Army Knife [Knives]

    A pocket knife that you can configure yourself with just the turn of a quarter? That’s a clever bit of engineering. The “Switch” is on presale at Quirky for $68 with 13 tools, including a memory stick. [Quirky] More »







  • First Look: April 27

    Do Powerful Politicians Cause Corporate Downsizing? The answer is yes, on multiple levels. It turns out that firms are highly sensitive to government spending shocks and to fiscal stimulus regarding investments in new capital, funds for research and development, and payouts to shareholders. Employing an empirical approach that looks at changes in congressional committee chairmanship over 40-plus years, HBS professors Lauren Cohen, Joshua Coval, and Christopher Malloy transcend standard explanations about interest-rate and tax channels to help economists better interpret the corporate impact of fiscal remedies.

    New from Harvard Business Press this week is Rethinking the MBA: Business Education at a Crossroads. Carefully buttressing their argument with thoughtful interviews and empirical data collected from leading schools, authors Srikant M. Datar, David A. Garvin, and Patrick G. Cullen, all of HBS, explain how and why business schools need to reinvent themselves. (Watch for a forthcoming Q&A on HBS Working Knowledge.)

    In cases this week, Professor Allen Grossman and Catherine Ross write in “International AIDS Vaccine Initiative” how the nonprofit tried to improve the existing incentive structure for the development of a vaccine against AIDS and other diseases disproportionately affecting the poor in tropical countries. And “Dollarama Inc.” by André F. Perold describes the financial risks and opportunities behind the Canadian firm’s decision to price certain goods above a buck.

    — Martha Lagace

    Publications

    Rethinking the MBA: Business Education at a Crossroads

    Authors: Srikant M. Datar, David A. Garvin, and Patrick Cullen
    Publication: Harvard Business Press, 2010
    Abstract

    : “Business Schools Face Test of Faith.” “Is It Time to Retrain B-Schools?” As these headlines make clear, business education is at a major crossroads. For decades, MBA graduates from top-tier schools set the standard for cutting-edge business knowledge and skills. Now the business world has changed, say the authors of Rethinking the MBA, and MBA programs must change with it. Increasingly, managers and recruiters are questioning conventional business education. Their concerns? Among other things, MBA programs aren’t giving students the heightened cultural awareness and global perspectives they need. Newly minted MBAs lack essential leadership skills. Creative and critical thinking demand far more attention. In this compelling and authoritative new book, the authors document a rising chorus of concerns about business schools gleaned from extensive interviews with deans and executives as well as from a detailed analysis of current curricula and emerging trends in graduate business education; provide case studies showing how leading MBA programs have begun reinventing themselves for the better; and offer concrete ideas for how business schools can surmount the challenges that come with reinvention, including securing faculty with new skills and experimenting with new pedagogies. Rich with examples and thoroughly researched, Rethinking the MBA reveals why and how business schools must define a better pathway for the future.

    Order this book: http://hbr.org/product/rethinking-the-mba-business-education-at-a-crossro/an/14724-HBK-ENG

    Circulation of Ideas across Academic Communities: When Locals Re-import Exported Ideas

    Authors: Julie Battilana, Michel Anteby, and M. Sengul
    Publication: Organization Studies (forthcoming)
    Abstract

    The circulation of ideas across academic communities is central to academic pursuits and has attracted much past scholarly attention. As North American-based scholars with European ties, we decided to examine the impact of Organization Studies in North American academia with the objective of understanding what, if anything, makes some Organization Studies’ articles more likely to have impact in North America than others. To set the stage for better understanding the role of Organization Studies in this academic community, we first present the key characteristics of North American academia. Second, relying on archival data spanning the first 29 years of Organization Studies (1980 to 2008, inclusive), we identify an apparent dynamic of select reimportation of exported ideas. Put otherwise, top North American journals tend to reimport ideas authored (and exported) by select North American scholars in Organizations Studies. Third, we discuss the implications of this process on the field of organization studies and on the circulation of ideas across academic communities.

    The Predictive Value of Accruals and Consequences for Market Anomalies

    Authors: Francois Brochet, Seunghan Nam, and Joshua Ronen
    Publication: The Journal of Accounting, Auditing and Finance (forthcoming)
    Abstract

    We revisit the role of the cash and accrual components of accounting earnings in predicting future cash flows using out-of-sample predictions and market value of equity as a proxy for all future cash flows. We find that, on average, accruals improve upon current cash flow from operations in predicting future cash flows. In the cross-section, accruals’ contribution is positively associated with proxies for quality of accruals and governance. Next, we investigate the implications of accruals’ predictive value for accrual-based market anomalies. We find that portfolios formed on stock return predictions using information from current CFO and accruals yield significantly positive returns on average, as opposed to CFO alone. We also find that Sloan’s (1996) accrual anomaly is related to our accrual contribution anomaly. Indeed, when accruals’ contribution to future cash flow prediction is the highest, the accrual anomaly vanishes. Collectively, our results suggest that the predictive value of accruals and market participants’ ability to process it are a significant driver of accrual-based anomalies.

    Consumer Policy

    Author: J. Gunnar Trumbull
    Publication: Chap. 26 in The Oxford Handbook on Business and Government, edited by David Coen, Wyn Grant, and Graham Wilson. Oxford: Oxford University Press, 2010.

    An abstract is unavailable at this time.

    Book: http://www.oup.com/us/catalog/general/subject/Business/Management/?view=usa&ci=9780199214273

    Working Papers

    Do Powerful Politicians Cause Corporate Downsizing?

    Authors: Lauren Cohen, Joshua Coval, and Christopher Malloy
    Abstract

    This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that fiscal spending shocks appear to significantly dampen corporate sector investment and employment activity. These corporate reactions follow both Senate and House committee chair changes, are present among large and small firms and within large and small states, are partially reversed when the congressman resigns, and are most pronounced among geographically concentrated firms. The effects are economically meaningful and the mechanism—entirely distinct from the more traditional interest rate and tax channels—suggests new considerations in assessing the impact of government spending on private sector economic activity.

    Download the paper: http://www.people.hbs.edu/cmalloy/pdffiles/envaloy.pdf

    Intensities and Risk Aversion in School Choice: A Laboratory Experiment

    Authors: Flip Klijn, Joana Pais, and Marc Vorsatz
    Abstract

    We experimentally investigate in the laboratory two prominent mechanisms that are employed in school choice programs to assign students to public schools. We study how individual behavior is influenced by preference intensities and risk aversion. Our main results show that 1) the Gale-Shapley mechanism is more robust to changes in cardinal preferences than the Boston mechanism independently of whether individuals can submit a complete or only a restricted ranking of the schools, and 2) subjects with a higher degree of risk aversion are more likely to play “safer” strategies under the Gale-Shapley but not under the Boston mechanism. Both results have important implications for the efficiency and the stability of the mechanisms.

    Download the paper: http://www.hbs.edu/research/pdf/10-093.pdf

    Network Effects in Countries’ Adoption of IFRS

    Authors: Karthik Ramanna and Ewa Sletten
    Abstract

    If a country’s accounting standards represent a political-economic equilibrium, why is that equilibrium for some countries shifting over time in favor of IFRS? We develop and test the hypothesis that network effects from the extant worldwide adoption of IFRS explain a country’s shift away from local accounting standards. That is, as more jurisdictions with economic ties to a given country adopt IFRS, perceived benefits from lowering transactions costs to foreign financial-statement users come to outweigh institutional differences (e.g., auditing technology) that make IFRS adoption costly. If true, the implication is that worldwide IFRS adoption is self-perpetuating. We find that perceived network benefits increase the degree of IFRS harmonization, although larger countries and countries less dependent on foreign trade have a differentially lower response to the IFRS network value. Also, benefits expected to accrue due to economic relations with the EU are a significant component of the perceived network value.

    Cases & Course Materials

    International AIDS Vaccine Initiative

    Allen Grossman and Catherine Ross
    Harvard Business School Case 310-015

    Dedicated to accelerating the development of a safe, effective, accessible, preventive HIV vaccine, the International AIDS Vaccine Initiative (IAVI) pioneered ways of addressing the inadequate incentive structures that prevented progress toward vaccines for AIDS and other diseases predominantly affecting poor populations in tropical countries. As an intermediary nonprofit organization, IAVI brought together partners with different perspectives and motivations from nonprofit, industry, government, and scientific research sectors toward developing vaccines. IAVI played several roles: honest broker, integrator, and communicator of knowledge regarding AIDS vaccine research; passionate advocate for AIDS vaccines at national and international levels; and coordinator and manager of research and development initiatives. In 2008, IAVI invested further in its own laboratories and research infrastructure, moving a step upstream in vaccine development partnerships and clinical research. How should IAVI manage tensions between what is necessary to achieve its mission and what is necessary to build new incentive structures that enable key actors to work together effectively?

    Purchase this case:
    http://cb.hbsp.harvard.edu/cb/product/310015-PDF-ENG

    Indus Towers: Collaborating with Competitors on Infrastructure

    Ranjay Gulati, Francisco de Asís Martínez-Jerez, V.G. Narayanan, and Rachna Tahilyani
    Harvard Business School Case 110-057

    The case describes the formation of Indus Towers, the largest telecom tower company in the world that has a joint venture created to build and manage the passive infrastructure of wireless telecom operators by bringing together three competitors in India’s tough telecom market—Bharti AirteI, Vodafone Essar, and Idea Cellular—and merging their tower holdings. It focuses on the issue as to how do you collaborate with your competitors in setting up towers but engage in a brutal competition with them in the marketplace?

    Purchase this case:
    http://cb.hbsp.harvard.edu/cb/product/110057-PDF-ENG

    Dollarama Inc.

    Andre F. Pérold
    Harvard Business School Case 210-041

    Dollarama is the leading operator of dollar stores in Canada. The firm performed extraordinarily well after a leveraged buyout in 2004 and recently executed a highly successful IPO. The company sources its goods primarily from Asia. It has strong brand recognition and competitive advantages in operations, purchasing, and merchandising. In the face of margin pressures, Dollarama recently took the risky decision to move from the single one-dollar price point to multiple price points. The additional price points offer some flexibility, but customers’ appetite for purchasing products priced above one dollar has yet to be fully determined. Dollarama is on a fast growth track but remains chiefly concerned about its vulnerability to supply disruptions and to increases in merchandise costs from higher input prices. The firm appears quite overvalued based on a multiples analysis but considerably undervalued based on a discounted cash flow analysis.

    Purchase this case:
    http://cb.hbsp.harvard.edu/cb/product/210041-PDF-ENG

    Merger Integration at Bank of America: The TrustWeb Project

    Gary P. Pisano and Bradley R. Staats
    Harvard Business School Case 610-054

    This case explores project management in a large organization through the eyes of a young project manager, Mike Morris. Morris is tasked with leading a project within the overall merger integration effort at Bank of America. Morris encounters difficulties with managing stakeholders, setting requirements, and reporting progress.

    Purchase this case:
    http://cb.hbsp.harvard.edu/cb/product/610054-PDF-ENG

  • Scientifically based foam analysis from KRÜSS

    Foamability – stability – drainage: With the DFA100 Dynamic Foam Analyzer, KRÜSS has put together an all-round package for foam analysis. Almost anyone wanting to analyse foam production or prevention will find a competent ally in the DFA100.

    Volumes from 20 ml are foamed with high reproducibility in the column using a gas stream or stirrer. The volumes of foam and liquid are determined continuously and without contact. Thanks to the high sampling rate, the unit even measures very unstable foams.

    The software provides characteristics such as decay half-life or values analogue to Ross-Miles in passing, while it determines the transition from pure drainage to decay and the end point of drainage using new patented parameters. The measurement can be parameterised very flexibly.

    Space-saving design, rapid column change with easy cleaning, and automatic, statistically evaluated repeat measurements make for the utmost convenience. An option to measure on several columns simultaneously and independently is exceedingly time-saving.

  • Mini Full Ceramics

    Full ceramic bearing technology with the new extended line of LBT Mini Full Ceramic bearings. With sizes ranging from as small as 3 millimeters in addition to flanged sizes, are suitable for use in many specialty applications. Ceramic is the perfect material for any application seeking to achieve higher RPM’s, reduce overall weight or for extremely harsh environments where high temperatures and corrosive substances are present. Applications such as cryo pumps, medical devices, semiconductors, machine tools, turbine flow meters, food processing equipment, robotics and optics.

  • EXFO LSI introduces the OmniCure® LX400 LED UV Spot Curing System

    QUEBEC CITY, CANADA, January 20, 2010 — EXFO Electro-Optical Engineering Inc.’s Life Sciences and Industrial Division (NASDAQ: EXFO, TSX: EXF) today announced the release of the OmniCure® LX400 – the most versatile, high performance, easy-to-use UV LED spot curing system.

    Utilizing the latest in UV LED technology, the OmniCure® LX400 provides a peak irradiance of 9,500mW/cm² with a lifetime of over 20,000 hours. The LX400 offers a unique ability to control up to four UV LED heads simultaneously with a single connection or independently. UV LED heads are available in three different wavelengths, with the ability to set each head at different irradiance levels in 1% increments as well as at different exposure times to provide greater compatibility with current adhesives. Manufacturers are now able to use a single UV LED spot curing system for various UV assembly applications at the same time achieving higher levels of control while ensuring a lean and cost effective UV curing assembly process.

    “The OmniCure® LX400 UV LED spot curing system is the result of extensive market research with our customers regarding current trends in high volume semi and fully automated manufacturing. With the shift in technology from arc-lamp to LED, we have bridged the gap by offering the most versatile platform to support this transition,” said Allan Firhoj, Vice President and General Manager of EXFO’s Life Sciences and Industrial Division. “This newest addition to the OmniCure® LX series represents EXFO’s commitment to continuously be at the forefront of innovation and deliver leading UV curing solutions with highest performance and simplicity.”

    Featuring simple front panel controls, the OmniCure® LX400 is easy to use and offers reliability in a UV LED curing system that can be set up and configured in minutes. With EXFO’s commitment to a sustainable environment, the system utilizes state of the art LED technology and innovative engineering to achieve energy efficiencies resulting in an 80% reduction in power consumption as compared to a UV arc lamp spot curing solution. The OmniCure® LX400 is also RoHS compliant and meets CE requirements.

    For more information
    Vance Oliver
    Manager, Investor Relations
    (418) 683-0913, Ext. 3733
    [email protected]

  • STAR 6 PICKING : New vertical mast with a picking platform

    Placing the customer proximity and innovation at the core of the company’s mission, enable, the world’s number 3 manufacturer of aerial work platforms, to develop new technologies for a reliable and safe product range

    Designed to meet the customers’ requirements working at heights of 6m, the
    STAR6 PICKING vertical mast is particularly suited for
    – Operations in locations where no fumes and low noise are important,
    – Commercial and retail stores (DIY, cash & carry…shops),
    – Warehouses (logistics, industrial…).

    This new vertical mast is based on the current Star 6 offering new advantages with a platform for “picking” purposes.

    ØRobust and reliable design (steel)
    The STAR6 PICKING allows the operator to drop and pick up parcels, small boxes, parts stored at height on shelves… with maximum comfort and safety:
    Picking tray with an edge (max. load 90 kg)
    Skirt on the platform for maximum safety (tools won’t fall)
    Adjustable-height tray with 4 positions
    Ergonomic control box with a new joystick
    Saloon-style doors for an easier access to the platform.

    ØVery compact
    With only a 1.64m height in stowed position allowing passage under standard doors and/or lifts as well as 0.76m width, the STAR6 PICKING is suited for working in the most congested areas.

    ØManoeuvrability
    Thanks to hydraulic proportional controls, all the movements are precise and totally under the operator’s control. The tight turning radius allows maximum manoeuvrability and easier access to the most difficult working areas.

    ØExcellent autonomy
    Thanks to its electric drive, the STAR6 PICKING features the latest technological advances and have long working cycles.

    Offering maximum safety, the STAR6 PICKING complies with the latest labour regulations, to European (EC marking, EN 280) and also international standards (ANSI, CSA, AS …).

    Press Contact:
    Haulotte Group – Marjolaine Degrange
    Tel: + 33 4 77 29 21 58 – e-mail: [email protected]
    Site internet : www.haulotte.com

  • SAVE MONEY ON LABEL COSTS

    START International has been solving customer’s application needs with products serving European manufacturing industries since 1981.

    START International’s Tape Dispensers and Label Dispensers are Designed for Your Applications!

    Our innovative tape dispensers provide taping solutions for self adhesive and water-activated (gummed or carton sealing) tapes. Our electric and automatic definite length tape dispensers are designed to increase operator productivity, reduce material costs, dispense tape to consistent lengths, reduce operator fatigue, accept virtually any type of tape, and provide straight cuts for better looking taped products.

    Our innovative Label Dispensers provide labeling solutions for self adhesive labels. Our electric label dispensers are all metal and function with consistent, high precision and reliable photoelectric sensors. Knowing you have a label dispenser that uses a photo sensor you can ensure you are getting the highest technology for your application that is versatile enough to handle any size, shape and material of label; including die-cut or kiss cut parts.

    START International brands of Electric and Automatic Self-Adhesive Tape Dispensers and Self-Adhesive Label Dispensers are adding value to production lines around the world. By visiting our Label Dispenser section you will see how we can help you make it easy to peel, present and apply labels in your manufacturing process to add value to your company. By visiting our Tape Dispenser Section you will see how we can help you better package your products, make it easy to tape in your manufacturing process and add value to your company.

    Our Hand-Held Loupes, Magnifiers and Microscopes help add accuracy to all of your quality control functions.

  • New Ulisse 70B

    New sweeper Ulisse 70B ride on machine. high preformance, price and dimension very small. Engines and components are of Italian high quality. Ulisse uses gearbox for the side brush and the front flap lift. The OMM scrubber dryers and sweepers are created by 40 years experience in the field of industrial and household cleaning and offer quality and safety guarantees.

  • New products -GZD Series Vibrating Feeder

    GZD Series Vibrating Feeder
    Zenith Vibrating Feeder is built to withstand the toughest work in a quarry or mine by matching different applications; The feeder series is designed particularly for continuous use with any hard and abrasive materials through uniform flow. They are backed by years of service proven performance in the mining, aggregates, glass, cement, chemical, wood products and steel industries.

    GZD Series Vibrating Feeder Features:
    1) flexible design
    2) extra heavy-duty construction
    3) exclusive vibrator technology
    4) Good performance-conditioning, no flushing phenomenon of materials.
    5) easy maintenance and low operating cost

    Vibrating Feeder Technical Data:
    Model Max.Feed Size(mm) Capacity (t/h) Power (kw) Weight (kg) Size of Funnel (mm)
    GZD850x3000 400 80-120 2.2×2 3607 850×3000
    GZD960x3800 500 120-210 11 3895 1000×3600
    GZD1100x4200 580 200-430 15 4170 1100×4200
    GZD1100x4900 580 280-500 15 4520 4900×1100
    GZD1300x4900 650 450-600 22 5200 4900×1300
    GZD1300x6000 600 400~560 22 7500 6000×1300
    GZD1500x6000 800 460~575 30 8666 6000×1500
    GZD1800x6000 800 600~800 37 11800 6000×1800

  • megacut® – New high performance electrodes for Japanese wire EDM machines.

    Berkenhoff has expanded its megacut® product line for Japanese
    machines to include two new wire electrodes: megacut® plus, the
    coated high performance wire which combines high profitability, top quality and maximum reliability; and megacut® pro, the uncoated brass wire which offers a good price-performance ratio for all basic applications.

    With these new wire electrodes, bedra offers a range of products which specifically respond to market needs in economically difficult times. Both products will help tool and mold making companies perform more efficiently and more cost-effectively.

    The novel coated gamma phase wire megacut® plus was tailored to meet the specific requirements of Japanese EDM machines. bedra has developed a wire which combines high cutting rates, precision, process stability and excellent surface quality – and delivers maximum profitability.

    megacut® plus is universally applicable on Japanese EDM machines and ensures immediate use in standard brass wire technology applications. Easy to thread, it is ideally suited for automated production in three-shift operation even during night time.

    Due to its high process stability it is possible, depending on the application and number of cuts, to considerable reduce the wire run-off speed – without compromising surface quality or precision. Longer cutting with one spool! This saves wire costs and increases profitability.

    It is noteworthy that these results are achieved under the most varied working conditions, that is, even under poor flushing conditions. Moreover, the excellent resistance of megacut® plus to wire breakage ensures a high degree of process stability.

    In addition, the megacut® product line offers a new product alternative for all basic applications in the entry-level range: the megacut® pro.

    This pure brass wire is also ideally suited for all Japanese EDM machines and, thanks to the proven bedra quality, provides high reliability in the cutting process. Its attractive price makes it a cost-effective alternative for all cutting applications where using pure brass wire is sufficient.

    The new bedra electrodes, megacut® plus and megacut® pro, will significantly increase efficiency and profitability in tool and mould making on Japanese machines.

  • Pilot-operated saftey valve for gases and liquids

    In August 2010, LESER (www.leser.com) will introduce a new product series: the pilot-operated safety valve. Both pop-action valves (Series 810) and modulate-action valves (Series 820) are available.

    The typical application areas of the pilot-operated safety valve (POSV) are refineries and gas processing plants, compressors in gas pipeline systems and offshore applications. The own-media-controlled POSV offers the advantage that the plant can be run close to the set pressure of the valve. This leads to an increase in the capacity utilization and consequently of the efficiency of the plant. Furthermore, POSVs allow higher external back pressures than spring-loaded valves.

    By means of the harmonized standard DIN EN ISO 4126-4 pilot-operated safety valves are now also approved in Europe. For decades already their technology has been proven in the American market and in the Middle East.

    The LESER POSV will be with a short four-week lead time ex works in Germany. As a special design feature, the tubing between the pilot valve and the main valve is integrated in the main valve cover, reducing the risk of damage or freezing. The backflow preventer is included as standard.

    The POSV will be part of the new LESER product group High Efficiency. This group unites all products which increase the efficiency and the productivity of the plant.

    Features at a glance:

    – Design in compliance with API 526
    – Valve sizes from DN 25 to DN 200 (1″ x 2″ to 8″ x 10″)
    – Orifice D to T
    – Flange pressure ranges according to DIN EN PN 10 – PN 63 (DIN EN), 2.5 bar – 63 bar (36 psig – 914 psig)
    – Flange pressure ranges according to ASME CL 150 – CL 600, 36 psig – 1480 psig (2,5 bar – 102 bar)
    – Approval according to ASME VIII, PED and Vd TÜV
    – Body materials WCB, CF8M, LCB, 1.0619, 1.4408

    Advantages at a glance:

    – Tightness guaranteed up to 97% of set pressure – operating pressure can be close to set pressure
    – Short blowdown for minimum product loss in case of valve opening
    – Lower risk of damage due to a reduction of the exterior piping
    – Backflow preventer included as standard
    – Fast availability: four weeks delivery time ex works
    – Free sizing software VALVESTAR

  • LS100 EX YAG

    GRAVOGRAPH, the world leader for laser engraving solutions, announces the launch of its new laser solution for marking on metals and plastics: the LS100EX YAG. Made up of a platform that can house an object with a maximum volume of 610 x 305 x 145 mm, coupled with a YAG 12W source, it presents the particular advantage of being able to mark hard or reflecting materials (black or stainless steel, etc.) as well as classic materials. The LS100EX YAG is aimed at applications involving personalization of objects (business gifts, trophies, etc.) and technical marking applications for industrial parts (tools, name plates, instrumentation, metal parts, etc.).

    The laser technology featured in the LS100 EX YAG solution can be used to mark a wide range of materials (ABS, aluminium, black or stainless steel, precious metals, etc.). Its large work area can house bulky objects such as holder trays on which the operator places parts in shaped recesses for concurrent engraving.

    The LS100EX YAG solution is controlled using the LaserStyle™ software, an intuitive interface specifically developed by specialists for laser engraving, that features automatic composition possibilities such as integration of lists of names and incrementation of numbers, and this makes it a really productive tool. With its maximum marking speed of 2.5 m/s and its front loading design (Front Loading Concept by Gravograph, the only one of its kind on the market), which cuts operating times between batches of parts, this laser engraving unit provides one of the highest machine use levels currently available.

    There are many accessories available as options with the LS100 EX YAG to provide a solution that is perfectly suited to the application and the user’s working environment. To start with, there are integrated filtering and ventilating systems for smoke and dust that enable compliance with working conditions for the user and the machine; these systems have been tried and tested in many cases of applications involving high emission levels of particles and odours. Then there is the wide range of objective lenses available, plus indexing supports for engraving on cylindrical and conical objects 3 to 130 mm in diameter. Lastly, a suction table can be fitted for marking thin, flexible materials.