Douglas Dynamics, Inc. A Financial Analysis and Valuation Report

Douglas Dynamics, Inc. was founded in 1977 and is one of the many construction machinery companies in the industry. Their headquarters is located in Milwaukee, WI, but they sell products in the United States, Canada, Northern Europe, and Asia. The company consist of two segments, a Work Truck Attachment, and a Work Truck Solutions. Having these two segments allow the company to reach into different markets, but the main market is snow and ice management. They have been able to stay ahead of the competition by acquiring other construction machinery businesses and innovating their current products. In the beginning of 2019, the company appointed a new President and CEO, Robert McCormick. He has had various roles in the company for the last 15 years. This report comprises historical financial analysis from 2014 to 2019 and current valuation of the business. There are also financial comparisons to another company, which is a member of the same industry and is located in the same region. Since 2014, the company has had steady quality of earnings ratio and activity ratios. In all of these years’ annual reports, there were no material deficiencies reported in the test of internal controls, and external auditors gave unqualified opinions on the financials. Based on the analysis, I believe this stock is undervalued. I recommend that you buy this stock as I believe it is worth more than the current price on 12/31/2020. Purchasing this stock at lower cost than valued, there is opportunity for long term profit as it is expected to increase in price

Clark Fork Non-Point Source Nutrient Sampling Report for Summers of 1999 and 2000

The Voluntary Nutrient Reduction Program (VNRP) for the Clark Fork River has set a target of reducing non-point source nutrient inputs by 20%. In-stream target levels are 20 ppb for total phosphorus and 300 ppb for total nitrogen. In order to assess whether this was being worked towards and to identify areas of concern, long-term monitoring was of nutrient input to the Clark Fork River and tributaries of concern was proposed in the spring of 1998. Monitoring began in the fall of 1998, and has continued to the present. In 2000, some sites on the Bitterroot River were added

Cottonwood Creek Preliminary Assessment

Cottonwood Creek is located in Powell County, Montana and flows through the town of Deer Lodge. The Natural Resource Conservation Service (NRCS), will be working with ranch owners along Cottonwood Creek on restoration and conservation projects in the spring of 2001. In September and October of 2000, six graduate students from the University of Montana completed a baseline assessment of the lower Cottonwood Creek watershed, including the tributary Reese Anderson Creek. The assessment is the start of a more comprehensive assessment to be completed in the summer of 2001. The purpose of this baseline assessment is to characterize the current condition of Cottonwood Creek. The objectives of this study include: 1. To assess the current condition (“health”) of Cottonwood Creek’s riparian areas. 2. To provide baseline data needed to evaluate the benefits of conservation and restoration projects. 3. To gather information about the current and historical land-uses in the Cottonwood Creek Watershed. 4. To make recommendations on a landowner monitoring system. Study Approach The Fall 200 study synthesized existing data and conducted new field observations. Existing data includes maps, soil information, geology, climate, and historically and current land uses. The major component of the field research was the evaluation of the riparian corridor using University of Montana’s Riparian and Wetland Research Program’s (RWRP) Lotic Assessment Form. This method breaks up the riparian corridor into about ¼ mile to ¾ mile sections, called polygons, and evaluates each polygon’s vegetation, stream bank stability, and invasive species. Each polygon is then rated as “Properly Functioning”, “Functioning but at Risk”, or “Nonfunctioning”. Other field data collected included measurement of the stream cross section, photo documentation of the riparian area, and stream discharge. Summary of results The Fall 2000 assessment broke Cottonwood Creek into 11 polygons and Reese Anderson Creek into 4 polygons. The RWRP Lotic Health Assessment scored five polygons as Functioning but at Risk, and the remaining ten polygons, including all 4 on Reese Anderson Creek, were found to be Non-Functioning systems. A big factor in reduced functioning along Cottonwood Creek is over grazing which resulted in a streambank instability and lack of woody vegetation. This is most evident on Reese Anderson Creek and the downstream portion of Cottonwood Creek. Other concerns in the riparian corridor included dewatering, use of rip-rap and invasive species. Comparing the cross sections measurements made in each polygon showed a widening trend downstream. A likely cause for this trend is the lack of woody vegetation along the stream bank downstream. Also, the limited discharged data collected suggested that the stream loses water as it flows downstream. This is likely because of the amount of diversions along the stream. However, further measurements need to be taken in the spring of 2001 to gain a better understanding of how much of a loss there is

Organize training measures, including workshops in accession candidate countries

The DESIR project sets out to strengthen the sustainability of DARIAH and firmly establish it as a long-term leader and partner within arts and humanities communities. The project was designed to address six core infrastructural sustainability dimensions and one of these was dedicated to training and education, which is also one of the four pillars identified in the DARIAH Strategic Plan 2019-2026. In the framework of Work Package 7: Teaching, DESIR organised dedicated workshops in the six DARIAH accession countries (Czech Republic, Finland, Israel, Spain, Switzerland and the United Kingdom) to introduce them to the DARIAH infrastructure and related services, and to develop methodological research skills. The topic of each workshop was decided by accession countries representatives according to the training needs of the national communities of researchers in the (Digital) Humanities. Training topics varied greatly: on the one hand, some workshops had the objective to introduce participants to specific methodological research skills; on the other hand, a different approach was used, and some events focused on the infrastructural role of training and education. The workshops organised in the context of Work Package 7: Teaching are listed below:• CZECH REPUBLIC: “A series of fall tutorials 2019 organized by LINDAT/CLARIAHCZ, tutorial #3 on TEI Training”, November 28, 2019, Prague;• FINLAND: “Reuse & sustainability: Open Science and social sciences and humanities research infrastructures”, 23 October 2019, Helsinki;• ISRAEL: “Introduction to Text Encoding and Digital Editions”, 24 October 2019, Haifa;• SPAIN: “DESIR Workshop: Digital Tools, Shared Data, and Research Dissemination”, 3 July 2019, Madrid;• SWITZERLAND: “Sharing the Experience: Workflows for the Digital Humanities”, 5-6 December 2019, Neuchâtel;• UNITED KINGDOM: “Research Software Engineering for Digital Humanities: Role of Training in Sustaining Expertise”, 9 December, London

Nonlinear structure - Affinity relationships for vapor guest inclusion by solid calixarenes

The structure-affinity relationships were studied for the guest inclusion parameters of solid tert-butylthiacalix-[4]arene (1) and tert-butylcalix[4]arene (2). The inclusion stoichiometry and inclusion free energy were calculated by the sorption isotherms obtained for guest vapor-solid host systems by the static method of headspace gas chromatographic analysis at 298 K. The obtained sorption isotherms have an inclusion threshold for guest thermodynamic activity corresponding to the phase transition between the initial host phase and the phase of inclusion compound. Unlike tert-butylcalix[4]arene, its thia analogue having a larger molecular bowl is able to bind only initial members of each studied homological series. All inclusion compounds of 1 formed upon host saturation by guest vapors have the same 1:1 stoichiometry, while for 2 the inclusion stoichiometry depends on the guest molecular size. A linear correlation between the inclusion free energy (standard state: infinitely dilute guest solution in toluene) and the guest size parameter (molar refraction) was observed for 1: ΔGtrans (kJ mol-1) = -12.24 + 0.568MRD (n = 7, r = 0.972, RSD = 0.6). This correlation is regarded as a part of the V-like structure-affinity relationship with a minimum for a guest that is complementary to the host cavity

Morphogenesis in Vitro in Maize Inbred Lines from the Lancaster Heterotic Group

The genotypic specificities of morphogenesis and regeneration have been studied in vitro in five maize inbred lines from the breeding-promising Lancaster heterotic group, compared with the representatives of other heterotic groups, that is, PLS61, A188, and Chi31. It has been shown that the ratio between the types of morphogenesis, such as organogenesis and embryoidogenesis, in a callus culture is predetermined by the explant genotype and sucrose concentrations in the medium for callusogenesis. The frequency of embryoidogenesis as the most efficient type of morphogenesis, considering further regeneration, was, on average, 40.0 ± 12.8% for maize inbreds from the Lancaster heterotic group and only 14.0 ± 4.0% from other heterotic groups. A sucrose concentration at a level of 30 g/L in the medium for callusogenesis further supported the process of regeneration through embryoidogenesis in inbreds of the Lancaster heterotic group at a level of 26.5 ± 15.4%, while the sucrose concentration of 60 g/L promoted regeneration up to a level of 57.7± 19.8%. Contents of sucrose in the medium for callusogenesis in the inbreds representing other heterotic groups did not affect the process of regeneration, and the level of embryoidogenesis with sucrose at the concentrations of 30 and 60 g/L was, respectively, 11.0 ± 7.0 and 15.0 ± 4.8%