Impact of global crisis on Mexican multinationals varies by industry, survey finds

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint initiative of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their second annual survey of Mexican multinationals today.1 The survey is part of a long-term study of the rapid global expansion of the multinational enterprises of emerging markets. The present report focuses on data for the year 2009. Highlights In 2009, the 20 companies listed in table 1 below posted about USD 117 billion in foreign assets, 63 billion in foreign sales, and had 227,484 employees in their overseas operations. The top three companies on the list are CEMEX, America Movil, and Carso Global Telecom, which together controlled USD 86 billion in foreign assets, which was 73% of the total on the list. The leading sectors on the list are food and beverages (4 firms), non-metallic minerals (4 firms), and telecommunications (2 firms). In keeping with the tradition in Mexican outward foreign direct investment (FDI), most of the investments were undertaken in Latin America and the Caribbean and in North America −specifically the United States-. These regions were followed in importance by Western Europe. Mexican outward FDI has now also begun to appear in China, India, and Australia. The shares of all companies ranked in table 1 are publicly traded, with the exception of PEMEX, which is 100% state-owned, and Xignux, which is a privately held family-owned firm

Striving to overcome the economic crisis: Progress and diversification of Mexican multinationals’ export of capital

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint initiative of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their third survey of Mexican multinationals today. The survey is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present report focuses on data for the year 2010. Highlights In 2010, the top 20 Mexican MNEs had foreign assets of USDD 123 billion (table 1 below), foreign sales of USDD 71 billion, and employed 255,340 people abroad (see annex table 1 in annex I). The top two firms, America Movil and CEMEX, together controlled USDD 85 billion in foreign assets, accounting for nearly 70% of the assets on the list. The top four firms (including FEMSA and Grupo Mexico) jointly held USDD 104 billion, which represents almost 85% of the list’s foreign assets. Leading industries in this ranking, by numbers of MNEs, are non-metallic minerals (four companies) and food and beverages (another four companies). All but two of the 20 are firms whose shares are traded on a stock exchange. The exceptions are PEMEX, Mexico’s fully state-owned oil and gas firm, and Xignux, a diversified family-owned enterprise. The top 20 MNEs had 223 foreign affiliates (branches, subsidiaries, et al). As with their counterparts elsewhere in Latin America, Mexican MNEs show a very strong regional orientation. As annex table 2 makes clear, the top 20 overwhelmingly prefer to invest in Latin America. The next region of choice, with a substantial presence of Mexican affiliates, is North America. Europe (mainly the European Union) is a somewhat distant third. The presence of Mexican MNEs in Asia seems to be growing, if slow. In 2008, four of them had affiliates in Asia; in 2010, seven did

Superconductivity in the η\eta-carbide-type oxides Zr4Rh2Ox

We report on the synthesis and the superconductivity of Zr$_4$Rh$_2$O$_{x}$ ($x$ = 0.4, 0.5, 0.6, 0.7, 1.0). These compounds crystallize in the $\eta$-carbide structure, which is a filled version of the complex intermetallic Ti$_2$Ni structure. We find that in the system Zr$_4$Rh$_2$O$_{x}$, already a small amount ($x$ $\geq$ 0.4) of oxygen addition stabilizes the $\eta$-carbide structure over the more common intermetallic CuAl$_2$ structure-type, in which Zr$_2$Rh crystallizes. We show that Zr$_4$Rh$_2$O$_{0.7}$ and Zr$_4$Rh$_2$O are bulk superconductors with critical temperatures of $T_c \approx$ 2.8 K and 4.7 K in the resistivity, respectively. Our analysis of the superconducting properties reveal both compounds to be strongly type-II superconductors with critical fields up to $\mu_0 H_{c1}$(0) $\approx$ 8.8 mT and $\mu_0 H_{c2}$(0) $\approx$ 6.08 T. Our results support that the $\eta$-carbides are a versatile family of compounds for the investigation of the interplay of interstitial doping on physical properties, especially for superconductivity

A dynamical model of the local cosmic expansion

We combine the equations of motion that govern the dynamics of galaxies in the local volume with Bayesian techniques in order to fit orbits to published distances and velocities of galaxies within $\sim 3$ Mpc. We find a Local Group (LG) mass $2.3\pm 0.7\times 10^{12}{\rm M}_\odot$ that is consistent with the combined dynamical masses of M31 and the Milky Way, and a mass ratio $0.54^{+0.23}_{-0.17}$ that rules out models where our Galaxy is more massive than M31 with $\sim 95\%$ confidence. The Milky Way's circular velocity at the solar radius is relatively high, $245\pm 23$ km/s, which helps to reconcile the mass derived from the local Hubble flow with the larger value suggested by the `timing argument'. Adopting {\it Planck}'s bounds on $\Omega_\Lambda$ yields a (local) Hubble constant $H_0=67\pm 5$km/s/Mpc which is consistent with the value found on cosmological scales. Restricted N-body experiments show that substructures tend to fall onto the LG along the Milky Way-M31 axis, where the quadrupole attraction is maximum. Tests against mock data indicate that neglecting this effect slightly overestimates the LG mass without biasing the rest of model parameters. We also show that both the time-dependence of the LG potential and the cosmological constant have little impact on the observed local Hubble flow.Comment: 22 pages, 14 figures. Accepted to MNRAS. An error in the apex calculation (Appendix A) was found and has been fixed. The new constraints favour models where the Milky Way is less massive than M31. The rest of model parameters and conclusions remain unchange

The VirS/VirR two-component system regulates the anaerobic cytotoxicity, intestinal pathogenicity, and enterotoxemic lethality of Clostridium perfringens type C isolate CN3685.

Clostridium perfringens vegetative cells cause both histotoxic infections (e.g., gas gangrene) and diseases originating in the intestines (e.g., hemorrhagic necrotizing enteritis or lethal enterotoxemia). Despite their medical and veterinary importance, the molecular pathogenicity of C. perfringens vegetative cells causing diseases of intestinal origin remains poorly understood. However, C. perfringens beta toxin (CPB) was recently shown to be important when vegetative cells of C. perfringens type C strain CN3685 induce hemorrhagic necrotizing enteritis and lethal enterotoxemia. Additionally, the VirS/VirR two-component regulatory system was found to control CPB production by CN3685 vegetative cells during aerobic infection of cultured enterocyte-like Caco-2 cells. Using an isogenic virR null mutant, the current study now reports that the VirS/VirR system also regulates CN3685 cytotoxicity during infection of Caco-2 cells under anaerobic conditions, as found in the intestines. More importantly, the virR mutant lost the ability to cause hemorrhagic necrotic enteritis in rabbit small intestinal loops. Western blot analyses demonstrated that the VirS/VirR system mediates necrotizing enteritis, at least in part, by controlling in vivo CPB production. In addition, vegetative cells of the isogenic virR null mutant were, relative to wild-type vegetative cells, strongly attenuated in their lethality in a mouse enterotoxemia model. Collectively, these results identify the first regulator of in vivo pathogenicity for C. perfringens vegetative cells causing disease originating in the complex intestinal environment. Since VirS/VirR also mediates histotoxic infections, this two-component regulatory system now assumes a global role in regulating a spectrum of infections caused by C. perfringens vegetative cells

Corporal punishment and youth externalizing behavior in Santiago, Chile

OBJECTIVES: Corporal punishment is still widely practiced around the globe, despite the large body of child development research that substantiates its short- and long-term consequences. Within this context, this paper examined the relationship between parental use of corporal punishment and youth externalizing behavior with a Chilean sample to add to the growing empirical evidence concerning the potential relationship between increased corporal punishment and undesirable youth outcomes across cultures. METHODS: Analysis was based on 919 adolescents in Santiago, Chile. Descriptive and multivariate analyses were conducted to examine the extent to which parents' use of corporal punishment and positive family measures were associated with youth externalizing behavior. Furthermore, the associations between self-reported externalizing behavior and infrequent, as well as frequent, use of corporal punishment were investigated to understand how varying levels of parental use of corporal punishment were differently related to youth outcomes. RESULTS: Both mothers' and fathers' use of corporal punishment were associated with greater youth externalizing behavior. Additionally, increases in positive parenting practices, such as parental warmth and family involvement, were met with decreases in youth externalizing behavior when controlling for youth demographics, family socioeconomic status, and parents' use of corporal punishment. Finally, both infrequent and frequent use of corporal punishment were positively associated with higher youth problem behaviors, though frequent corporal punishment had a stronger relationship with externalizing behavior than did infrequent corporal punishment. CONCLUSIONS: Parental use of corporal punishment, even on an occasional basis, is associated with greater externalizing behavior for youth while a warm and involving family environment may protect youth from serious problem behaviors. Therefore, findings of this study add to the growing evidence concerning the negative consequences of corporal punishment for youth outcomes.R01 HD033487 - NICHD NIH HHS; R01 DA021181 - NIDA NIH HH

Relationship between discordance in parental monitoring and behavioral problems among Chilean adolescents

This study investigated the role of discrepancies between parent and youth reports of perceived parental monitoring in adolescent problem behaviors with a Chilean sample (N= 850). Higher levels of discordance concerning parental monitoring predicted greater levels of maladaptive youth behaviors. A positive association between parent-youth discordance and externalizing problems indicated that large adult-youth disagreement in parental monitoring may impose a great risk, despite protective efforts of parental monitoring. Although the direct relationship between parental monitoring and youth internalizing behaviors was not significant, parent-youth incongruence in monitoring was associated with greater levels of internalizing behaviors. Therefore, differing assessments of parental behaviors, as an indicator of less optimal family functioning, may provide important information about youth maladjustment and may potentially provide a beginning point for family-focused intervention.R01 DA021181 - NIDA NIH HHS; R01 DA021181-05 - NIDA NIH HHS; R01 HD033487 - NICHD NIH HH

Changes in the dynamics of Mexicans multinationals vis-á-vis the reforms on finance, energy and telecommunications in the midst of the crisis

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Columbia Center on Sustainable Investment (CCSI), a joint center of Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their sixth survey of Mexican multinationals today. The survey, conducted during 2014, is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present report focuses on 2013 data