Restructuring and the Nonmetropolitan Turnaround: The California Evidence

This is the publisher's version, also available electronically from http://muse.jhu.edu/journals/yearbook_of_the_association_of_pacific_coast_geographers/v048/48.warf.html.Conceptions of nonmetropolitan growth have rarely benefited from current debates in social theory. An analytical interpretation of the literature on the "turnaround" is offered from a structuralist perspective. In this model of industrial restructuring, the routinization of the labor process via capital intensification is seen to engender the dispersal of firms to outlying areas through the internalization of linkages. Empirical evidence from California confirms this notion, as population growth is tied to labor markets in which capital-intensive production forms are extensive. Economic base analysis indicates the rapid growth of the service sector is relatively less significant in such areas

Digitalização, globalização e capital financeiro hipermóvel

Since the late 20th century and the microelectronics revolution, capital has become thoroughly digitized, moving effortlessly around the world through electronic funds transfer systems (EFTS). This paper charts the rise of electronic money since the collapse of the Bretton-Woods regulatory system in the 1970s and the shift into extremely mobile funds that circulate through ber optics lines. Second, it examines some of the world’s largest EFTS systems and their impacts on capital markets of different types. The third part focuses on how digital money has undermined na- tional nancial regulations imposed by nation-states. In the fourth section, the role of EFTS in the growth of offshore banking centers is explored. Desde o fim do século XX, e com a revolução da microeletrônica, o capital tornou-se completamente digitalizado, movendo-se sem esforço por todo o mundo por meio de sistemas eletrônicos de transferência de fundos (EFTS). Este artigo apresenta o aumento do dinheiro eletrônico desde o colapso do sistema regulatório de Bretton-Woods, na década de 1970, e a mudança para fundos extremamente móveis que circulam por cabos de fibra óptica. Em segundo lugar, examina alguns dos maiores sistemas EFTS do mundo e seus impactos em diferentes tipos de mercados de capitais. A terceira parte discute a forma como o dinheiro digital enfraqueceu as regulações financeiras nacionais impostas pelos Estados-nação. Por fim, a quarta seção analisa o papel dos EFTS no crescimento dos centros bancários offshore

Digitalização, globalização e capital financeiro hipermóvel

Desde o fim do século XX, e com a revolução da microeletrônica, o capital tornou-se completamente digitalizado, movendo-se sem esforço por todo o mundo por meio de sistemas eletrônicos de transferência de fundos (EFTS). Este artigo apresenta o aumento do dinheiro eletrônico desde o colapso do sistema regulatório de Bretton-Woods, na década de 1970, e a mudança para fundos extremamente móveis que circulam por cabos de fibra óptica. Em segundo lugar, examina alguns dos maiores sistemas EFTS do mundo e seus impactos em diferentes tipos de mercados de capitais. A terceira parte discute a forma como o dinheiro digital enfraqueceu as regulações financeiras nacionais impostas pelos Estados-nação. Por fim, a quarta seção analisa o papel dos EFTS no crescimento dos centros bancários offshore

Dollars and defense : a closer look at how military spending affects Fifth District communities in times of war and peace

Defense industries ; Federal Reserve District, 5th

The offshoring of financial services : a reassessment

Operating in increasingly competitive market environment, financial services companies are engaged in international re-engineering of business processes mirroring developments in manufacturing over the past four decades. Drawing upon interviews conducted with senior managers and partners from two leading international banks, a multinational 'consumables' provider and a leading finance consultancy, as well as extensive published surveys, we examine the distinctive 'anatomy' of offshoring in financial services, and industry which also manifests a high degree of geographical concentration for 'higher order' functions. We conclude that the reality of process re-engineering in the sector has frequently failed to meet business objectives, and has run the risk of creating 'backlash' from employees in both home and host environments

The trust preferred CDO market: from start to (expected) finish

This paper investigates the development, issuance, structuring, and expected performance of the trust preferred securities collateralized debt obligation (TruPS CDO) market. Developed as a way to provide capital markets access to smaller banks, thrifts, insurance companies, and real estate investment trusts (REITs) by pooling the issuance of TruPS into marketable CDOs, the market grew to $60 billion of issuance from its inception in 2000 through its abrupt halt in 2007. As evidenced by rating agency downgrades, current performance, and estimates from the authors' own model, TruPS CDOs are likely to perform poorly. Using data and valuation software from the leading provider of such information, they estimate that large numbers of the subordinated bonds and some senior bonds will be either fully or partially written down, even if no further defaults occur going forward. The primary reason for these losses is that the underlying collateral of TruPS CDOs is small, unrated banks whose primary asset is commercial real estate (CRE). During their years of greatest issuance from 2003 to 2007, the booming real estate market and record low number of bank failures masked the underlying risks that are now manifest. Another reason for the poor performance of bank TruPS CDOs is that smaller banks became a primary investor in the mezzanine tranches of bank TruPS CDOs, something that is also complicating regulators' resolutions of failed banks. To understand how this came about, the authors explore in detail the symbiotic relationship between dealers and rating agencies and how they modeled and sold TruPS CDOs. In their concluding comments, the authors provide several lessons learned for policymakers, regulators, and market participants.Asset-backed financing

Water Flows and Topographic Networks of Power: Social Struggles for Water in the Copiapó Valley in the Eighteenth Century

In the mid-eighteenth century, following the Bourbon Reforms, the Captaincy General of Chile developed a foundational urban-center policy to organize and concentrate the demographic distribution in their territories. As a result, in 1744, the Villa de San Francisco de la Selva was founded in the middle regions of Copiapó Valley, replacing the old Copiapó Town that dated from 1540. From the Villa’s foundation, the river and water governance were considered critical factors in the political equilibrium of colonial society in the valley. The valley and its river cut across the extreme dryness of the Atacama Desert that stretches from the Andes Mountains to the Pacific Ocean. This small wet strip offered refuge, wood, shade, water, and food to settlers and travelers in a region with a very arid climate and scarce rainfall.Fil: Astudillo Pizarro, Francisco Segundo Cristian. Universidad Nacional de Rosario. Facultad de Arquitectura Planeamiento y Diseño. Centro Universitario Rosario de Investigaciones Urbanas y Regionales; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Rosario; Argentin

The New SUB Urban

By pairing the unique and varying physical conditions of open-pit mines with the contextual situations and issues that surround them, these often abandoned and overlooked gaps in the earth can be rethought as a new landscape for creating future infrastructures that uniquely address national and global issues that are likely to increasingly effect our world in the future. This thesis project aims to rethink and restore purpose to these numerous vacant gaps left in the earth to determine how their unique conditions can provide a greater benefit to society through adaptive reuse

Formed by Place: Spatiality, Irony, and Empire in Conrad’s ‘An Outpost of Progress’

In its ironic narrative and distinctive geography, Joseph Conrad’s 1897 short story ‘An Outpost of Progress’ is well suited for geocritical analysis, insofar as Conrad demonstrates the degree to which space and place affect both the characters in the story and style of the text. Focusing on the unique setting—the ‘outpost’—in which the events take place, Rutledge and Tally argue that Conrad’s tale employs an ironic narrator in order to highlight the tale’s distinctive spatiality, particularly with respect to a geopolitical system that too neatly divides the spaces of the globe into civilized and barbaric regions. The spatiality of ‘An Outpost of Progress’ can be seen in the geographical aspects of the narrative, with the specific site or heterotopia of the ‘outpost’ situated at the edge of a territory coded as ‘barbaric’ or ‘uncivilized,’ thus connecting the colonized domain in central Africa to the metropolitan society of northwestern Europe, largely unseen, but implicitly present throughout the story. But this spatiality may also be observed in its formal or stylistic elements, especially in the point of view and voice of the narrator, as the perspective shifts from omniscient overseer to ironic commentator and then to a free indirect style in which the distance between narrator and subject is dramatically reduced. In this way, Conrad produces an ironic, spatial narrative that highlights, in both content and form, the absurdity of the imperialist ‘civilizing mission’ in Africa