The role of commercial real estate investments in the banking crisis of 1985-92

This article examines the role of commercial real estate investments in the banking crisis of 1985-92, an unprecedented period during which more than 1,300 banks failed. Bank failures are fundamentally important because of the unique role played by financial institutions in the provision of business credit. We discover three striking features of banks failing during this period. First, commercial real estate was only a factor in the bank failures of 1988-92. Second, construction loans played a much larger role in bank failures than permanent loans, and the relationship is strongest with construction loans booked during 1983-1985. Third, other ex ante risk measures are systematically related to banking failure throughout the sample period. These results suggest that risk-seeking banks brought about their own demise and commercial real estate, especially construction lending, was one of the vehicles.bank; bank failure; commercial bank; commercial real estate; construction lending; real estate

A socio-economic investigation of pre-harvest and post-harvest crop loss between producers and retailers in Fenland

This paper presents the results of an investigation which identified causes of both pre- and post-harvest crop losses and retail-induced crop losses within Fenland, Cambridgeshire. This study used semi-structured face-to-face interviews with local fruit and vegetable producers. Constructivist grounded theory was utilised for data analysis which revealed aspects not previously identified within academic literature. The causes of crop loss are heavily influenced by external forces situated near the consumer-end of the food supply chain in addition to natural factors, such as weather events, were identified to form a small percentage of loss. While crop loss cannot be totally mitigated; producers appear to use a plethora of strategies including the use of technology to minimise these losses. Producers were found to be directly affected by the high demands of retailers and consumers, however, the significance was found to be dependent on the scale of production and the crop grown. This study establishes the need for new future policies to ensure equality for producers in the UK fresh food supply chain, in addition to the promotion of sustainable food production

The structure of one-relator relative presentations and their centres

Suppose that G is a nontrivial torsion-free group and w is a word in the alphabet G\cup\{x_1^{\pm1},...,x_n^{\pm1}\} such that the word w' obtained from w by erasing all letters belonging to G is not a proper power in the free group F(x_1,...,x_n). We show how to reduce the study of the relative presentation \^G= to the case n=1. It turns out that an "n-variable" group \^G can be constructed from similar "one-variable" groups using an explicit construction similar to wreath product. As an illustration, we prove that, for n>1, the centre of \^G is always trivial. For n=1, the centre of \^G is also almost always trivial; there are several exceptions, and all of them are known.Comment: 15 pages. A Russian version of this paper is at http://mech.math.msu.su/department/algebra/staff/klyachko/papers.htm . V4: the intoduction is rewritten; Section 1 is extended; a short introduction to Secton 5 is added; some misprints are corrected and some cosmetic improvements are mad

Potassium condensing tests of horizontal multitube convective and radiative condensers operating at vapor temperatures of 1250 deg to 1500 deg F

Potassium condensing tests of horizontal multitube convective and radiative condenser operating at vapor temperature

Evaluation of be-38 percent al alloy final report, 27 jun. 1964 - 28 feb. 1965

Mechanical properties, microstructural features, and general metallurgical quality of beryllium- aluminum allo

Higher order topological actions

In classical mechanics, an action is defined only modulo additive terms which do not modify the equations of motion; in certain cases, these terms are topological quantities. We construct an infinite sequence of higher order topological actions and argue that they play a role in quantum mechanics, and hence can be accessed experimentally.Comment: 7 page

The Kervaire-Laudenbach conjecture and presentations of simple groups

The statement ``no nonabelian simple group can be obtained from a nonsimple group by adding one generator and one relator" 1) is equivalent to the Kervaire--Laudenbach conjecture; 2) becomes true under the additional assumption that the initial nonsimple group is either finite or torsion-free. Key words: Kervaire--Laudenbach conjecture, relative presentations, simple groups, car motion, cocar comotion. AMS MSC: 20E32, 20F05, 20F06.Comment: 20 pages, 13 figure

Performance of a Small Gas Generator Using Liquid Hydrogen and Liquid Oxygen

The performance and operating problems of a small hot-gas generator burning liquid hydrogen with liquid oxygen are presented. Two methods of ignition are discussed. Injector and combustion chamber design details based on rocket design criteria are also given. A carefully fabricated showerhead injector of simple design provided a gas generator that yielded combustion efficiencies of 93 and 96 percent

X-Ray Microanalysis of Hollow Heart Potatoes

Electron microprobe and X-ray fluorescence techniques were used to study elemental gradients associated with the physiological disorder hollow heart i n potato tubers. Gradients were found along the length and across the width of mature tubers. These were not rela ted to the disorder, however . Tubers with advanced symptoms of the disorder had elemental levels and gradients similar to those in healthy, control tubers. The results suggest that if the disorder is initially caused by an elemental deficiency, as has sometimes been proposed , the deficiency is temporary and no longer exists in mature tubers with advanced hollow heart. Radial gradients were associated rnd inly with two contrasting tissues . the centra 1 pith and the surrounding perimedullary zone. Tissue differences are critical in microprobe studies involving small samples Microprobe studies of developing tubers containing incipient stages of hollow heart. employing strip samples restricted to the central pith where the disorder originates and taken so as to traverse the small lesions, showed a dramatic increase in Mg in lesion areas. It is suggested that a nutrient imbalance may trigger the onset of the cell necrosis that characterizes the initiation of hollow heart in potato . A localized Mg toxicity or Ca deficiency due to high Mg:Ca ratio is implicated