Wealth Effects of Banks' Rights to Market and Originate Annuities

We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross-sectionally, smaller, riskier insurers with higher distribution costs and substantial annuity business sustain larger wealth losses. Larger, riskier bank holding companies with fee- based and consumer business gain most, consistent with the extension of federal safety-net guarantees as a source of gains. Banking stock-price reactions to the Supreme Court's decision are opposite other findings, possibly reflecting unfulfilled expectations of a broader mandate for expanded bank rights.Annuities, VALIC, financial modernization, deregulation, deposit insurance, Blackfeet National Bank, event studies

Successful completion of a cyclic ground test of a mercury ion auxiliary propulsion system

An engineering model Ion Auxiliary Propulsion System (IAPS) 8-cm thruster (S/N 905) has completed a life test at NASA Lewis Research Center. The mercury ion thruster successfully completed and exceeded the test goals of 2557 on/off cycles and 7057 hr of operation at full thrust. The final 1200 cycles and 3600 hr of the life test were conducted using an engineering model of the IAPS power electronics unit (PEU) and breadboard digital controller and interface unit (DCIU). This portion of the test is described in this paper with a charted history of thruster operating parameters and off-normal events. Performance and operating characteristics were constant throughout the test with only minor variations. The engineering model power electronics unit operated without malfunction; the flight software in the digital controller and interface unit was exercised and verified. Post-test inspection of the thruster revealed facility enhanced accelerator grid erosion but overall the thruster was in good condition. It was concluded that the thruster performance was not drastically degraded by time or cycles. Additional cyclic testing is currently under consideration

A web-based resource for radiation safety courses

CQU runs regular courses for intending Radiation Safety Officers from a variety of industry sectors. Participants have varying levels of prior knowledge to bring to the intensive three day program. To cater for those students whose prior knowledge of radiation physics is weak the print-based media for the course have been converted into a CD-ROM incorporating animations, worked examples, progress checks and self-assessment items. This allows the students who need extra study time on the basic physics concepts to cover as much as possible of the material before commencement of the course. The first course sessions can then concentrate on students’ individual problems and the required program content. This approach also allows the student with strong prior learning to submit an assessment test and be awarded a partial course exemption. Although the material selection is specifically for Radiation Safety training the CD-ROM has also been used in bridging courses, as reinforcement for first year students, and within our Engineering Technology Instrumentation program. The number of students who have used the CD-ROM is not statistically significant but student feedback on the material is very positive

Detection of exogenous double-stranded RNA movement in \u3ci\u3ein vitro\u3c/i\u3e peanut plants

New technologies are needed to eliminate mycotoxins and/or fungal pathogens from agricultural products. RNA interference (RNAi) has shown potential to control fungi associated with crops. In RNAi, double-stranded RNA (dsRNA) targets homologous mRNA for cleavage, and can reach the mRNA of pathogens in contact with the plant. The key element in this process is the movement of RNA signals cell-to-cell and over long distances within the plant, and between host plants and parasites. • In this study, we selected a regulatory gene in the aflatoxin biosynthesis pathway, aflS/ aflR, necessary for the production of aflatoxins in Aspergillus spp. We designed a Dicersubstrate RNA (DsiRNA) to study the movement and stability of the duplex over time in in vitro peanut plants using stem-loop primers and RT-PCR for DsiRNA detection. • The preliminary results demonstrated that DsiRNA was absorbed and moved away from the point of application, spread systemically and was transported rapidly, most likely through the phloem of the shoot, to the sink tissues, such as new auxiliary shoots, flowers and newly formed pegs. The DsiRNA remained detectable for at least 30 days after treatment. •This is the first time that movement of exogenous DsiRNA in in vitro peanut plants has been described. Since DsiRNA was detectable in the pegs 15 days after treatment, aflatoxin reduction may be possible if the duplexes containing part of the aflatoxin biosynthesis pathogen gene induce silencing in the peanut seeds colonised by Aspergillus spp. The application of small RNAs could be a non-transformative option for mycotoxin contamination control

Detection of exogenous double-stranded RNA movement in \u3ci\u3ein vitro\u3c/i\u3e peanut plants

• New technologies are needed to eliminate mycotoxins and/or fungal pathogens from agricultural products. RNA interference (RNAi) has shown potential to control fungi associated with crops. In RNAi, double-stranded RNA (dsRNA) targets homologous mRNA for cleavage, and can reach the mRNA of pathogens in contact with the plant. The key element in this process is the movement of RNA signals cell-to-cell and over long distances within the plant, and between host plants and parasites. • In this study, we selected a regulatory gene in the aflatoxin biosynthesis pathway, aflS/aflR, necessary for the production of aflatoxins in Aspergillus spp. We designed a Dicersubstrate RNA (DsiRNA) to study the movement and stability of the duplex over time in in vitro peanut plants using stem-loop primers and RT-PCR for DsiRNA detection. • The preliminary results demonstrated that DsiRNA was absorbed and moved away from the point of application, spread systemically and was transported rapidly, most likely through the phloem of the shoot, to the sink tissues, such as new auxiliary shoots, flowers and newly formed pegs. The DsiRNA remained detectable for at least 30 days after treatment. • This is the first time that movement of exogenous DsiRNA in in vitro peanut plants has been described. Since DsiRNA was detectable in the pegs 15 days after treatment, aflatoxin reduction may be possible if the duplexes containing part of the aflatoxin biosynthesis pathogen gene induce silencing in the peanut seeds colonised by Aspergillus spp. The application of small RNAs could be a non-transformative option for mycotoxin contamination control

A molecular theory for two-photon and three-photon fluorescence polarization

In the analysis of molecular structure and local order in heterogeneous samples, multiphoton excitation of fluorescence affords chemically specific information and high-resolution imaging. This report presents the results of an investigation that secures a detailed theoretical representation of the fluorescence polarization produced by one-, two-, and three-photon excitations, with orientational averaging procedures being deployed to deliver the fully disordered limits. The equations determining multiphoton fluorescence response prove to be expressible in a relatively simple, generic form, and graphs exhibit the functional form of the multiphoton fluorescence polarization. Amongst other features, the results lead to the identification of a condition under which the fluorescence produced through the concerted absorption of any number of photons becomes completely unpolarized. It is also shown that the angular variation of fluorescence intensities is reliable indicator of orientational disorder

Study of fuel cells using storable rocket propellants Final report, 28 Jan. 1964 - 29 Jan. 1965

Fuel cells using storable rocket propellants for reactant

Derivation of the Planck Spectrum for Relativistic Classical Scalar Radiation from Thermal Equilibrium in an Accelerating Frame

The Planck spectrum of thermal scalar radiation is derived suggestively within classical physics by the use of an accelerating coordinate frame. The derivation has an analogue in Boltzmann's derivation of the Maxwell velocity distribution for thermal particle velocities by considering the thermal equilibrium of noninteracting particles in a uniform gravitational field. For the case of radiation, the gravitational field is provided by the acceleration of a Rindler frame through Minkowski spacetime. Classical zero-point radiation and relativistic physics enter in an essential way in the derivation which is based upon the behavior of free radiation fields and the assumption that the field correlation functions contain but a single correlation time in thermal equilibrium. The work has connections with the thermal effects of acceleration found in relativistic quantum field theory.Comment: 23 page