Banking market reaction to auctions of failed banks

In this study, we find that non-merger rival banks of failed banks from 2008 to 2013 experience substantial negative abnormal stock returns in the United States when failed banks are auctioned. Negative abnormal returns are related to contagion effects associated with an increased probability of their own failure and the information of these rival banks' opaque assets. We also find evidence that FDIC resolutions of these failed banks, similar to previous regulatory interventions, distort the market competition

A submillimeter search for pre- and proto-brown dwarfs in Chamaeleon II

Context. Chamaeleon II molecular cloud is an active star forming region that offers an excellent opportunity for studying the formation of brown dwarfs in the southern hemisphere. Aims. Our aims are to identify a population of pre- and proto- brown dwarfs (5 sigma mass limit threshold of ~0.015 Msun) and provide information on the formation mechanisms of substellar objects. Methods. We performed high sensitivity observations at 870 microns using the LABOCA bolometer at the APEX telescope towards an active star forming region in Chamaeleon II. The data are complemented with an extensive multiwavelength catalogue of sources from the optical to the far-infrared to study the nature of the LABOCA detections. Results. We detect fifteen cores at 870 microns, and eleven of them show masses in the substellar regime. The most intense objects in the surveyed field correspond to the submillimeter counterparts of the well known young stellar objects DK Cha and IRAS 12500-7658. We identify a possible proto-brown dwarf candidate (ChaII-APEX-L) with IRAC emission at 3.6 and 4.5 microns. Conclusions. Our analysis indicates that most of the spatially resolved cores are transient, and that the point-like starless cores in the sub-stellar regime (with masses between 0.016 Msun and 0.066 Msun) could be pre-brown dwarfs cores gravitationally unstable if they have radii smaller than 220 AU to 907 AU (1.2" to 5" at 178 pc) respectively for different masses. ALMA observations will be the key to reveal the energetic state of these pre-brown dwarfs candidates.Comment: 11 pages, 6 figure

Capillarity in pressure infiltration: improvements in characterization of high-temperature systems

In the pressure infiltration of metal matrix composites, molten metal is injected under external pressure into a porous preform of the reinforcing material. Equilibrium capillary parameters characterizing wetting for this process are summarized in plots of metal saturation versus applied pressure, also known as drainage curves. Such curves can be measured in our laboratory during a single experiment with an infiltration apparatus designed to track the rate of metal penetration into porous preforms under conditions characteristic of metal matrix composite processing (temperatures in excess of 1000°C and pressures in the order of 10MPa). For such measurements to be valid, infiltration of the preform with molten metal must be mechanically quasi-static, i.e., the metal must flow at a rate sufficiently low for the metal pressure to be essentially uniform across the preform at all times. We examine this requirement quantitatively, using a finite-difference model that simulates the unsaturated unidirectional ingress of molten metal into a ceramic particle preform of finite width. We furthermore present improvements in the experimental apparatus developed in our laboratory to measure the entire drainage curve in a single experiment. We compare numerical results with new experimental data for the copper/alumina system to show (i) that pressurization rates sufficiently low for quasi-static infiltration can be produced with this apparatus, and (ii) that taking the relative permeability equal to the saturation yields better agreement with experiment than does the expression originally proposed by Brooks and Core

Ag+ release inhibition from ZrCN–Ag coatings by surface agglomeration mechanism : structural characterization

Published 17 July 2013New multifunctional materials based on well-established materials to which functional properties are added, such as antibacterial performance, have become a relevant research topic, in order to meet the requirements of today's technological advances. This paper reports the results of a detailed structural and chemical characterization study of ZrCN–Ag coatings produced by reactive magnetron sputtering, as well as the release of silver after immersion in a simulated body fluid (Hank's balanced salt solution), which mimic the material behaviour within the human body. The chemical composition was evaluated by electron probe microanalysis, x-ray photoelectron spectroscopy and Rutherford backscattering spectroscopy, whereas the structure was assessed by Raman spectroscopy and x-ray diffraction. The material exhibits a homogeneous distribution of the elements throughout the films, with a (C + N)/Zr ratio of around 1.3 and 15 at% of silver. A mixture of amorphous (a-C and CNx) and crystalline phases (ZrCN) was identified. In addition, the silver was detected to be released in less than 0.7% of the total silver in the films, occurring during the first two hours of immersion; no further release was evidenced after this period of time.This research is partially sponsored by FEDER funds through the program COMPETE-Programa Operacional Factores de Competitividade and by Portuguese national funds through FCT-Fundacao para a Ciencia e a Tecnologia, under the projects ANTIMICROBCOAT-PTDC/CTM/102853/2008. This work has also been supported by the Ministerio de Ciencia e Innovacion of Spain through the Consolider-Ingenio 2010 programme (CSD2008-00023) and through project RyC2007-0026

Binding of the Bacillus subtilis LexA protein to the SOS operator

The Bacillus subtilis LexA protein represses the SOS response to DNA damage by binding as a dimer to the consensus operator sequence 5′-CGAACN(4)GTTCG-3′. To characterize the requirements for LexA binding to SOS operators, we determined the operator bases needed for site-specific binding as well as the LexA amino acids required for operator recognition. Using mobility shift assays to determine equilibrium constants for B.subtilis LexA binding to recA operator mutants, we found that several single base substitutions within the 14 bp recA operator sequence destabilized binding enough to abolish site-specific binding. Our results show that the AT base pairs at the third and fourth positions from the 5′ end of a 7 bp half-site are essential and that the preferred binding site for a LexA dimer is 5′-CGAACATATGTTCG-3′. Binding studies with LexA mutants, in which the solvent accessible amino acid residues in the putative DNA binding domain were mutated, indicate that Arg-49 and His-46 are essential for binding and that Lys-53 and Ala-48 are also involved in operator recognition. Guided by our mutational analyses as well as hydroxyl radical footprinting studies of the dinC and recA operators we docked a computer model of B.subtilis LexA on the preferred operator sequence in silico. Our model suggests that binding by a LexA dimer involves bending of the DNA helix within the internal 4 bp of the operator

Electrical transport and optical studies of ferromagnetic Cobalt doped ZnO nanoparticles exhibiting a metal-insulator transition

The observed correlation of oxygen vacancies and room temperature ferromagnetic ordering in Co doped ZnO1-o nanoparticles reported earlier (Naeem et al Nanotechnology 17, 2675-2680) has been further explored by transport and optical measurements. In these particles room temperature ferromagnetic ordering had been observed to occur only after annealing in forming gas. In the current work the optical properties have been studied by diffuse reflection spectroscopy in the UV-Vis region and the band gap of the Co doped compositions has been found to decrease with Co addition. Reflections minima are observed at the energies characteristic of Co+2 d-d (tethrahedral symmetry) crystal field transitions, further establishing the presence of Co in substitutional sites. Electrical transport measurements on palletized samples of the nanoparticles show that the effect of a forming gas is to strongly decrease the resistivity with increasing Co concentration. For the air annealed and non-ferromagnetic samples the variation in the resistivity as a function of Co content are opposite to those observed in the particles prepared in forming gas. The ferromagnetic samples exhibit an apparent change from insulator to metal with increasing temperatures for T>380K and this change becomes more pronounced with increasing Co content. The magnetic and resistive behaviors are correlated by considering the model by Calderon et al [M. J. Calderon and S. D. Sarma, Annals of Physics 2007 (Accepted doi: 10.1016/j.aop.2007.01.010] where the ferromagnetism changes from being mediated by polarons in the low temperature insulating region to being mediated by the carriers released from the weakly bound states in the higher temperature metallic region.Comment: 7 pages, 6 figure

Spitzer Infrared Spectrograph Observations of Magellanic Cloud Planetary Nebulae: the nature of dust in low metallicity circumstellar ejecta

We present 5 - 40 micron spectroscopy of 41 planetary nebulae (PNe) in the Magellanic Clouds, observed with the Infrared Spectrograph on board the Spitzer Space Telescope. The spectra show the presence of a combination of nebular emission lines and solid-state features from dust, superimposed on the thermal IR continuum. By analyzing the 25 LMC and 16 SMC PNe in our sample we found that the IR spectra of 14 LMC and 4 SMC PNe are dominated by nebular emission lines, while the other spectra show solid-state features. We observed that the solid-state features are compatible with carbon-rich dust grains (SiC, polycyclic aromatic hydrocarbons (PAHs), etc.) in most cases, except in three PNe showing oxygen-rich dust features. The frequency of carbonaceous dust features is generally higher in LMC than in SMC PNe. The spectral analysis allowed the correlations of the dust characteristics with the gas composition and morphology, and the properties of the central stars. We found that: 1) all PNe with carbonaceous dust features have C/O>1, none of these being bipolar or otherwise highly asymmetric; 2) all PNe with oxygen-rich dust features have C/O<1, with probable high mass progenitors if derived from single-star evolution (these PNe are either bipolar or highly asymmetric); 3) the dust temperature tracks the nebular and stellar evolution; and 4) the dust production efficiency depends on metallicity, with low metallicity environments not favoring dust production.Comment: The Astrophysical Journal, in pres

Specific plasmid patterns and high rates of bacterial co-occurrence within the coral holobiont

Despite the importance of coral microbiomes for holobiont persistence, the interactions among these arenot well understood. In particular, knowledge of the co-occurrence and taxonomic importance of specific members of the microbial core, as well as patterns of specific mobile genetic elements (MGEs), is lacking. We used seawater and mucus samples collected from Mussismilia hispida colonies on two reefs located in Bahia, Brazil, to disentangle their associated bacterial communities, intertaxa correlations, and plasmid patterns. Proxies for two broad-host-range (BHR) plasmid groups, IncP-1 and PromA, were screened. Both groups were significantly (up to 252 and 100%, respectively) more abundant in coral mucus than in seawater. Notably, the PromA plasmid group was detected only in coral mucus samples. The core bacteriome of M.hispidamucus was composed primarily of members of the Proteobacteria, followed by those of Firmicutes. Significant host specificity and co-occurrences among different groups of the dominant phyla (e.g., Bacillaceae and Pseudoalteromonadaceae and the genera Pseudomonas, Bacillus, and Vibrio) were detected. These relationships were observed for both the most abundant phyla and the bacteriome core, in which most of the operational taxonomic units showed intertaxa correlations. The observed evidence of host-specific bacteriome and co-occurrence (and potential symbioses or niche space co-dominance) among the most dominant members indicates a taxonomic selection of members of the stable bacterial community. In parallel, host-specific plasmid patterns could also be, independently, related to the assembly of members of the coral microbiome