Risks to Hospitality Firms in the International Arena

Much potential for growth in hospitality firms exists in foreign countries, but expansion abroad typicality bears additional risks that could be detrimental to the operations. The authors explore those risks, currency exchange risk, and country risk, and offer practical techniques to access, manage, control, and reduce them. Deriving benefits from global opportunities requires effective management of these area

Separation of DNA Replication from the Assembly of Break-Competent Meiotic Chromosomes

The meiotic cell division reduces the chromosome number from diploid to haploid to form gametes for sexual reproduction. Although much progress has been made in understanding meiotic recombination and the two meiotic divisions, the processes leading up to recombination, including the prolonged pre-meiotic S phase (meiS) and the assembly of meiotic chromosome axes, remain poorly defined. We have used genome-wide approaches in Saccharomyces cerevisiae to measure the kinetics of pre-meiotic DNA replication and to investigate the interdependencies between replication and axis formation. We found that replication initiation was delayed for a large number of origins in meiS compared to mitosis and that meiotic cells were far more sensitive to replication inhibition, most likely due to the starvation conditions required for meiotic induction. Moreover, replication initiation was delayed even in the absence of chromosome axes, indicating replication timing is independent of the process of axis assembly. Finally, we found that cells were able to install axis components and initiate recombination on unreplicated DNA. Thus, although pre-meiotic DNA replication and meiotic chromosome axis formation occur concurrently, they are not strictly coupled. The functional separation of these processes reveals a modular method of building meiotic chromosomes and predicts that any crosstalk between these modules must occur through superimposed regulatory mechanisms

The Ninth Data Release of the Sloan Digital Sky Survey: First Spectroscopic Data from the SDSS-III Baryon Oscillation Spectroscopic Survey

The Sloan Digital Sky Survey III (SDSS-III) presents the first spectroscopic data from the Baryon Oscillation Spectroscopic Survey (BOSS). This ninth data release (DR9) of the SDSS project includes 535,995 new galaxy spectra (median z=0.52), 102,100 new quasar spectra (median z=2.32), and 90,897 new stellar spectra, along with the data presented in previous data releases. These spectra were obtained with the new BOSS spectrograph and were taken between 2009 December and 2011 July. In addition, the stellar parameters pipeline, which determines radial velocities, surface temperatures, surface gravities, and metallicities of stars, has been updated and refined with improvements in temperature estimates for stars with T_eff<5000 K and in metallicity estimates for stars with [Fe/H]>-0.5. DR9 includes new stellar parameters for all stars presented in DR8, including stars from SDSS-I and II, as well as those observed as part of the SDSS-III Sloan Extension for Galactic Understanding and Exploration-2 (SEGUE-2). The astrometry error introduced in the DR8 imaging catalogs has been corrected in the DR9 data products. The next data release for SDSS-III will be in Summer 2013, which will present the first data from the Apache Point Observatory Galactic Evolution Experiment (APOGEE) along with another year of data from BOSS, followed by the final SDSS-III data release in December 2014.Comment: 9 figures; 2 tables. Submitted to ApJS. DR9 is available at http://www.sdss3.org/dr

The Baryon Oscillation Spectroscopic Survey of SDSS-III

The Baryon Oscillation Spectroscopic Survey (BOSS) is designed to measure the scale of baryon acoustic oscillations (BAO) in the clustering of matter over a larger volume than the combined efforts of all previous spectroscopic surveys of large scale structure. BOSS uses 1.5 million luminous galaxies as faint as i=19.9 over 10,000 square degrees to measure BAO to redshifts z<0.7. Observations of neutral hydrogen in the Lyman alpha forest in more than 150,000 quasar spectra (g<22) will constrain BAO over the redshift range 2.15<z<3.5. Early results from BOSS include the first detection of the large-scale three-dimensional clustering of the Lyman alpha forest and a strong detection from the Data Release 9 data set of the BAO in the clustering of massive galaxies at an effective redshift z = 0.57. We project that BOSS will yield measurements of the angular diameter distance D_A to an accuracy of 1.0% at redshifts z=0.3 and z=0.57 and measurements of H(z) to 1.8% and 1.7% at the same redshifts. Forecasts for Lyman alpha forest constraints predict a measurement of an overall dilation factor that scales the highly degenerate D_A(z) and H^{-1}(z) parameters to an accuracy of 1.9% at z~2.5 when the survey is complete. Here, we provide an overview of the selection of spectroscopic targets, planning of observations, and analysis of data and data quality of BOSS.Comment: 49 pages, 16 figures, accepted by A

The Sloan Digital Sky Survey quasar catalog: tenth data release

We present the Data Release 10 Quasar (DR10Q) catalog from the Baryon Oscillation Spectroscopic Survey (BOSS) of the Sloan Digital Sky Survey III. The catalog includes all BOSS objects that were targeted as quasar candidates during the first 2.5 years of the survey and that are confirmed as quasars via visual inspection of the spectra, have luminosities M-i[z = 2] 2.15 (117 668) is similar to 5 times greater than the number of z > 2.15 quasars known prior to BOSS. Redshifts and FWHMs are provided for the strongest emission lines (C IV, C III, Mg II). The catalog identifies 16 461 broad absorption line quasars and gives their characteristics. For each object, the catalog presents five-band (u, g, r, i, z) CCD-based photometry with typical accuracy of 0.03 mag and information on the optical morphology and selection method. The catalog also contains X-ray, ultraviolet, near-infrared, and radio emission properties of the quasars, when available, from other large-area surveys. The calibrated digital spectra cover the wavelength region 3600-10 500 angstrom at a spectral resolution in the range 1300 < R < 2500; the spectra can be retrieved from the SDSS Catalog Archive Server. We also provide a supplemental list of an additional 2376 quasars that have been identified among the galaxy targets of the SDSS-III/BOSS

The Baryon Oscillation Spectroscopic Survey of SDSS-III

The Baryon Oscillation Spectroscopic Survey (BOSS) is designed to measure the scale of baryon acoustic oscillations (BAO) in the clustering of matter over a larger volume than the combined efforts of all previous spectroscopic surveys of large-scale structure. BOSS uses 1.5 million luminous galaxies as faint as i = 19.9 over 10,000 deg(2) to measure BAO to redshifts z < 0.7. Observations of neutral hydrogen in the Ly alpha forest in more than 150,000 quasar spectra (g < 22) will constrain BAO over the redshift range 2.15 < z < 3.5. Early results from BOSS include the first detection of the large-scale three-dimensional clustering of the Ly alpha forest and a strong detection from the Data Release 9 data set of the BAO in the clustering of massive galaxies at an effective redshift z = 0.57. We project that BOSS will yield measurements of the angular diameter distance d(A) to an accuracy of 1.0% at redshifts z = 0.3 and z = 0.57 and measurements of H(z) to 1.8% and 1.7% at the same redshifts. Forecasts for Ly alpha forest constraints predict a measurement of an overall dilation factor that scales the highly degenerate D-A(z) and H-1(z) parameters to an accuracy of 1.9% at z similar to 2.5 when the survey is complete. Here, we provide an overview of the selection of spectroscopic targets, planning of observations, and analysis of data and data quality of BOSS

Risk Diversity Across Restaurants: An Empirical Analysis

This study examines how firm-specific financial characteristics affect the risk (i.e., from an investment-attractiveness perspective) of restaurants by examining the relationships among various firm-specific financial characteristics. The study considers the systematic and total risk of 52 restaurants from 1992 to 1995. The model used explains about half of the risk diversity across firms. The results of this analysis suggest that liquidity, dividend-payout ratio, return on assets, and growth in earnings before interest and taxes are important in explaining variation in risk across firms. In contrast, leverage seems to have little influence on market-based measures of risk. In general, high risk is likely to have an adverse effect on the cost of capital and can mean a high probability of insolvency. Though adequate liquidity is necessary for solvency, too much liquidity may suggest that available resources are not being invested in operating assets, which typically generate higher returns than cash or marketable securities. Firms with low payout ratios exhibit high risk, as low payout ratios may result in a high level of uncommitted internally generated funds. Managers ought to pay out earnings that cannot be profitably invested in the restaurants\u27 operations. High operating returns are associated with low risk and tend to increase shareholder value. Aggressive and rapid growth, however, could increase risk by straining a firm\u27s human resources and its ability to develop efficient controls and an effective internal structure. © 1998, Sage Publications. All rights reserved

Predictors of Student Academic Performance in the Introductory Marketing Course

Student characteristics may affect academic performance, but little research exists on the determinants of student performance in undergraduate marketing courses. For a variety of reasons, this is an important issue to students, educators, administrators, and other constituents of institutions of higher education. Using OLS regression analysis on a sample of 349 undergraduate students of marketing in a public university, the model explains about 40% of a typical student\u27s grade, and the results of this study show that a student\u27s grade point average, academic origin, and employment commitments may be good predictors of student performance in this course