Is Owning Stock an Abnormally Dangerous Activity? Shareholder Limited Liability in Tort

This article reconsiders whether corporate shareholders would benefit from the application of tort law principles to a limited shareholder liability analysis. In this Article, the author argues that tort law would address limited shareholder liability under a negligence and not a strict liability regime, and that a negligence regime would produce results similar to those produced under the current corporate law framework. Mr. Schley finds that tort law, like corporate law, would uphold limited shareholder liability

Variational calculations on the hydrogen molecular ion

We present high-precision non-relativistic variational calculations of bound vibrational-rotational state energies for the $H_2^+$ and $D_2^+$ molecular ions in each of the lowest electronic states of $\Sigma_g$, $\Sigma_u$, and $\Pi_u$ symmetry. The calculations are carried out including coupling between $\Sigma$ and $\Pi$ states but without using the Born-Oppenheimer or any adiabatic approximation. Convergence studies are presented which indicate that the resulting energies for low-lying levels are accurate to about $10^{-13}$. Our procedure accounts naturally for the lambda-doubling of the $\Pi_u$ state.Comment: 23 pp., RevTeX, epsf.sty, 5 figs. Enhanced data in Table II, dropped 3 figs. from previous versio

Geotechnical Evaluation of a Ghanaian Black Cotton Soil for use as Clay Liner in Tailings Dam Construction

The purpose of tailings impoundment is to contain tailings produced from mineral processing. Chemicals used in mineral ex-traction processes are usually hazardous to biota and fauna and their presence in tailings may pollute the environment. To pre-vent the flow of such contaminants from tailing dams into the environment, low permeability membranes or seals are used in the basin of the tailings dam as barrier layer. Geomembranes and natural clay liners are typical examples. The use of naturally occurring clay materials provides the most economical liner for tailings dam construction. Lateritic clay and weathered shale have been evaluated for use as liner. Black cotton soils occur in substantial quantities in parts of Ghana but their potential use as a clay liner has not been evaluated. This study presents laboratory evaluation of a typical black cotton soil from the Accra plains of Ghana as potential clay liner for tailings dam construction. Results of the study indicate that the hydraulic conductiv-ity or permeability, plasticity index, fines content and cation exchange capacity of the black cotton soils met the specification of typical clay liner systems. The soil however failed the specific gravity and liquid limit requirements marginally and hence, the soils may be used as clay lining system in tailings dams

A Framework for a Dynamic Metropolitan University

A Metropolitan University (MU) is deeply embedded in its local community, entwined in various economic, social, and professional networks over which creative and innovative ideas circulate. In keeping with its core mission of education, a MU can leverage these networks by implementing a research agenda designed to gain a better understanding of the propagation and exchange of ideas over the networks in which it operates. We refer to a university that has adopted such an agenda as a Dynamic Metropolitan University. Guided by a strategic plan that recognizes and supports the study of networks, a Dynamic MU is then positioned to effectively differentiate itself from online education, local community colleges, and less community-oriented universities

NALISIS RASIO KEUANGAN TERHADAP KONDISI FINANCIAL DISTRESS MENGGUNAKAN METODE ALTMAN Z-SCORE, SPRINGATE S-SCORE DAN ZMIJEWSKI X-SCORE (Studi pada Bank Umum Syariah Periode 2017 – 2021)

Jenis penelitian yang digunakan adalah deskriptif verifikatif dengan menggunakan regresi data panel yang diolah oleh aplikasi EViews 12 SV. Populasi dan sampel dalam penelitian ini sebanyak 10 Bank Umum Syariah selama Periode 2017-2021. Total sampel yang digunakan dalam penelitian ini sebanyak 50 sampel. Hasil Uji F pada Model Altman Z-Score menunjukkan rasio keuangan memiliki pengaruh signifikan terhadap kondisi financial distress, pada model Springate S-Score menunjukkan bahwa rasio keuangan tidak memiliki pengaruh signifikan terhadap kondisi financial distress, dan pada model Zmijewski X-Score menunjukkan rasio keuangan memiliki pengaruh signifikan terhadap kondisi financial distress. Hasil Uji T pada masing-masing model terhadap kondisi financial distress. Uji signifikansi variabel independen (Uji-t) pada Model Altman Z-Score menunjukkan variabel EBITTA, WCTA, MVTL, RETA dan SATA memiliki pengaruh signifikan secala parsial terhadap kondisi financial distress menggunakan model Altman Z-Score sedangkan variabel CFOTA tidak memiliki pengaruh secara parsial terhadap kondisi financial distress menggunakan model Altman Z-Score. Uji signifikansi variabel independen (Uji-t) pada Model Springate S-Score menunjukkan variabel EBITTA memiliki pengaruh signifikan secala parsial terhadap kondisi financial distress menggunakan model Springate S-Score sedangkan variabel WCTA, MVTL, RETA, SATA dan CFOTA tidak memiliki pengaruh secara parsial terhadap kondisi financial distress menggunakan model Springate S-Score. Uji signifikansi variabel independen (Uji-t) pada Model Zmijewski X-Score menunjukkan variabel RETA dan MVTL memiliki pengaruh signifikan secala parsial terhadap kondisi financial distress menggunakan model Springate S-Score sedangkan variabel EBITTA, WCTA, SATA dan CFOTA tidak memiliki pengaruh secara parsial terhadap kondisi financial distress menggunakan model Zmijewski X -Score. Hasil analisis dari tiga metode yang digunakan serta perhitungan statistik, Metode Springate yang lebih akurat dari tiga metode yang ada dengan menghitung Standar Deviasinya. Perhitungan Standar Deviasi Metode Springate menunjukkan nilai paling kecil dan paling mendekati mean (rata-rata) yaitu sebesar 0,3971 dengan nilai mean yaitu 1,0289 sedangkan Standar Deviasi Altman Z-Score sebesar 3,6277 dengan nilai mean sebesar 9,0943 dan standar deviasi Zmijewski sebesar 0,9233 dengan nilai mean sebesar -3,2341

Mutual Fund Advisory Fees: Forty Years of Failure

In the 1960s, the Securities and Exchange Commission (SEC) attempted to correct an oversight in the Investment Company Act of 1940 (ICA) that allowed investment management firms to overcharge investors, namely, the absence of enforceable protections over excessive fees. Congress, in the 1970 amendments to the ICA, was influenced by the investment management industry and the resultant legislation sent ambiguous signals to the judicial system. Lacking clear guidance from Congress, in the seminal fee case Gartenberg v. Merrill Lynch, the Second Circuit fashioned a fiduciary standard favorable to the investment management industry. Under this standard, no plaintiff has ever won an award under the revised ICA. Recently, the U.S. Supreme Court affirmed the Gartenberg standard and, in the process, amplified the original errors of the Gartenberg court. The economics underpinning advisory services have not changed, the overcharging persists, and the judiciary is forced into increasingly extreme rulings to maintain the fiction that advisory fees are reasonable. In the forty years since Gartenberg, the judicial system and independent directors have systematically failed to protect mutual fund investors from excessive advisory fees. In Jones v. Harris Associates L.P., the U.S. Supreme Court acknowledged the lack of “analytical clarity” of Gartenberg and implicitly invited a resolution of the problem by sorting out the differences between advisory fees and fees determined by arm’s length bargaining. The judicial system and Congress have shown no inclination to take up the challenge. Fortunately, the 1970 amendments to the ICA empower independent directors to address the problem. This paper explores these issues and proposes a path forward restoring mutual fund governance to its intended role of protecting mutual fund investors

A Healthier Bottom Line: Distilling Best Practices in Corporate Wellness

The Massachusetts Business Roundtable (MBR) collaborated with a team from the Emerging Leaders Program (ELP) from the University of Massachusetts Boston to explore ways to control health care costs. One strategy being implemented by employers to control health care costs is through “wellness programs,” employer-sponsored efforts to improve the health of employees. Members of the Massachusetts Business Roundtable (MBR) and other large employers have had success in reducing their health care costs through the implementation of corporate wellness initiatives. The purpose of this paper is to define what is working in private sector wellness programs to determine whether there is a broader application that would help the state meet its cost containment goals

Evaluation du procédé d’abattage des bovins aux abattoirs de Cotonou-Porto- Novo au sud du Bénin

La viande est une denrée alimentaire hautement périssable dont la qualité hygiénique dépend de la contamination pendant les opérations d’abattage et de découpe. L’objectif de l’étude est d’évaluer le procédé d’abattage des bovins aux abattoirs de Cotonou-Porto-Novo au sud-Bénin. L’analyse du procédé d’abattage a été faite sur la base de la règle des cinq M. L’hygiène du procédé a été évaluée sur 60 carcasses et au cours dedeux périodes (répétition dans le temps). L’analyse du procédé a révélé que les pratiques courantes de production peuvent occasionner la contamination des carcasses par E. coli pathogène, Salmonella enterica,Bacillus cereus, Clostridium botulinum, Clostridium perfringens, Staphylococcus aureus, Listeria monocytogenes, Mycobacterium bovis et Mycobacterium tuberculosis. Les charges microbiennes moyennes parpériode de prélèvement étaient respectivement de 3,0 ± 0,12 log UFC/cm² et 5,09 ± 0,16 log UFC/cm² pour la flore aérobie mésophile et 1,2 ± 0,11 log UFC/cm² et 1,73 ± 0,18 log UFC/cm² pour les entérobactériaceae. Unseul échantillon a révélé la présence de Salmonella sp. Les charges ont fortement varié selon la période de prélèvement (P<0,05). Conformément aux critères proposés dans la littérature, l’hygiène du procédé d’abattagepeut être considérée satisfaisante durant la première période d’étude et non satisfaisante durant la deuxième période.Mots clés: Abattoir, viande, hygiène, microbiologie, procédé, Bénin

Diversité de la microflore initiale de la viande et sécurité sanitaire des consommateurs

La microflore initiale de la viande regroupe les germes survenus de l’animal vivant jusqu’à l’obtention de la carcasse c’est-à dire jusqu’à l’habillage mais avant lavage. Cet article décrit la diversité de cette microflore, les facteurs favorisant leur multiplication et leurs conséquences sur la santé des consommateurs. Les microorganismes de surface retrouvés immédiatement après abattage sur les carcasses ont été d’abord récapitulés. Les principaux indicateurs du respect des bonnes pratiques d’hygiène dans la filière viande ont été ensuite décrits, notamment, la Flore Aérobie Mésophile, Pseudomonas, les Enterobacteriaceae et E. coli. L’implication de l’activité de l’eau, de la température, du potentiel d’oxydoréduction et du pH dans le développement de la microflore initiale de la viande a été présentée. L’altération des viandes, les toxiinfections alimentaires et les conséquences technologiques issues du développement de cette microflore ont été décrites. Enfin, les caractéristiques des principaux germes pathogènes de la viande ont été décrites et les normes microbiologiques de la viande appliquées dans quelques pays ont été inventoriées.Mots clés: viande, microorganisme, altération, toxi-infection, normes