Controlling banker’s bonuses: Efficient regulation or politics of envy?

The positive relationship between bank CEO compensation and risk taking is a well established empirical fact. The global banking crisis has resulted in a chorus of demands to control banker’s bonuses and thereby curtail their risk taking activities in the hope that the world can avoid a repeat in the future. However, the positive relationship is not a causative one. In this paper we argue that the cushioning of banks downside risks provide the incentive for banks to take excessive risk and design compensation packages to deliver high returns. Macro-prudential regulation will have a better chance of curbing excess risk taking than controlling banker’s compensation

An Efficient Scheme for a Distributed Video Retrieval System for Remote Users

The new era of digital video and multimedia technologies has created the potential for large libraries of digital video. With this new technology come the challenges of creating usable means by which such large and diverse depositories of digital information (digital libraries) can be efficiently queried and accessed so that (a) the response is fast, (b) the communication over the Internet is minimal and (c) the retrieval is characterized by high precision and recall. In this paper we discuss how existing digital video editing tools, together with data compression techniques, can be combined to create a fast, accurate and cost effective video retrieval system for remote users. The traditional approaches employed in text databases, such as keyword searching and volume browsing, are inadequate mechanisms for a video retrieval system for remote users because, (a) they don\u27t apply to video at all, or (b) they are not practical due to the amounts of data involved, or (c) they have insufficient resolution to be useful in a video archive. New techniques must be developed that facilitate the query and selection of digital video. This paper presents one such scheme

Visualizing Spacetime Curvature via Frame-Drag Vortexes and Tidal Tendexes II. Stationary Black Holes

When one splits spacetime into space plus time, the Weyl curvature tensor (which equals the Riemann tensor in vacuum) splits into two spatial, symmetric, traceless tensors: the tidal field $E$, which produces tidal forces, and the frame-drag field $B$, which produces differential frame dragging. In recent papers, we and colleagues have introduced ways to visualize these two fields: tidal tendex lines (integral curves of the three eigenvector fields of $E$) and their tendicities (eigenvalues of these eigenvector fields); and the corresponding entities for the frame-drag field: frame-drag vortex lines and their vorticities. These entities fully characterize the vacuum Riemann tensor. In this paper, we compute and depict the tendex and vortex lines, and their tendicities and vorticities, outside the horizons of stationary (Schwarzschild and Kerr) black holes; and we introduce and depict the black holes' horizon tendicity and vorticity (the normal-normal components of $E$ and $B$ on the horizon). For Schwarzschild and Kerr black holes, the horizon tendicity is proportional to the horizon's intrinsic scalar curvature, and the horizon vorticity is proportional to an extrinsic scalar curvature. We show that, for horizon-penetrating time slices, all these entities ($E$, $B$, the tendex lines and vortex lines, the lines' tendicities and vorticities, and the horizon tendicities and vorticities) are affected only weakly by changes of slicing and changes of spatial coordinates, within those slicing and coordinate choices that are commonly used for black holes. [Abstract is abbreviated.]Comment: 19 pages, 7 figures, v2: Changed to reflect published version (changes made to color scales in Figs 5, 6, and 7 for consistent conventions). v3: Fixed Ref

Plant and Insect Fossils from the Mayo Indian Village Section (Central Yukon): New Data on Middle Wisconsinan Environments and Glaciation

The Mayo Indian Village Section in central Yukon contains the Mayo Till, representing the Wisconsinan McConnell Glaciation, underlain by fluvial sediments with rare detrital organics. Previous 14C dates from the till or underlying sediments have failed to adequately define the age of the McConnell Glaciation. A new accelerator date (29.6 ka BP) on seeds of Corispermum hyssopifolium from subtill deposits shows that the McConnell Glaciation is probably Late Wisconsinan in age and that it correlates with the Kluane Glaciation (Kluane Lake area), McCauley Glaciation (Snag-Klutlan region) and the glaciation represented by « Till D » at the Tom Creek Section (Liard Plain). This conclusion and a new date on Old Crow tephra mean that the Reid, Mirror Creek and possibly Shakwak glaciations are of lllinoian age. Plant fossils (pollen and seeds) and insect fossils from detrital organics associated with the 29.6 ka BP date portray an essentially treeless environment. Even though typical low arctic plants such as heaths, shrub birch and alder are rare to absent, both pollen and macro-fossils suggest a climate no colder than present low arctic tundra, although, it was probably drier. Spruce may have survived in the region, but only as small groves rather than as a riparian forest.La coupe du village indien de Mayo renferme le Till de Mayo, témoin de la Glaciation de McConnell datant du Wisconsinien, sous lequel se trouvent des sédiments fluviatiles comprenant des matériaux organodétritiques rares. Les datations au 14C du till et des sédiments sous-jacents obtenues antérieurement n'avaient pas permis de dater avec précision l'âge de la Glaciation de McConnell. La nouvelle date de 29,6 ka obtenue par accélérateur sur des graines de Corispermum hyssopifolium provenant des dépôts sous-jacents au till indique que la Glaciation de McConnell date probablement du Wisconsinien supérieur et qu'elle correspond aux glaciations de Kluane (Kluane Lake) et de McCauley (région de Snag-Klutan) et à la glaciation représentée par le "Till D" dans la coupe de Tom Creek (Liard Plain). À partir de cette conclusion et grâce à une nouvelle datation sur le tephra de Old Crow, on peut croire que les glaciations de Reid, de Mirror Creek et probablement de Shakwak sont d'âge illinoien. Les fossiles de végétaux (pollen et graines) et d'insectes trouvés dans les sédiments organodétritiques associés à la date de 29.6 ka BP témoignent d'un milieu en grande partie dépourvu d'arbres. Même si les végétaux caractéristiques du bas Arctique comme les Éricacées, l'aulne et le bouleau arbustif sont rares ou absents, le pollen et les macrofossiles laissent entrevoir un climat qui n'était pas plus froid que le climat actuel de la toundra du bas Arctique, mais probablement plus sec. Les épinettes ont peut-être survécu dans la région mais seulement sous forme de bosquets et non de forêt riparienne.Das Profil aus dem indianischen Dorf Mayo, Zentral-Yukon, enthàlt das Till von Mayo, das die McConnell-Vereisung im Wiskonsinium bezeugt und unter dem sich Flusssedimente mit seltenem organischem Erosionsmaterial befinden. Frùhere 14C-Daten von dem Till oder darunter liegenden Sedimenten fùhrten nicht zu einer adâquaten Bestimmung des Alters der McConnell-Vereisung. Ein neues, mit Hilfe eines Beschleunigers auf Samen von Corispermum hyssopifolium in den Ablagerungen unter dem Till gefundenes Datum (29.6 ka v.u.Z.) zeigt, dass die McConnell-Vereisung môglicherweise im spàten Wiskonsinium stattfand und mit den Vereisungen von Kluane (Kluane-See-Gebiet), McCauley (Snag-Klutlan-Gebiet) und dem durch das "Till D" reprasentierten Profil von Tom Creek (Liard Plain) korreliert. Dièse Folgerung und ein neues Datum auf dem Tephra von Old Crow bedeuten, dass die Vereisungen von Reid, Mirror Creek und môglicherweise Shakwak dem lllinoium zugeordnet werden kônnen. Pflanzenfossile (Pollen und Samen) und Insektenfossile aus organischem Erosionsmaterial, das mit dem 29.6 ka v.u.Z. Datum in Verbindung gebracht wird. zeichnen eine im wesentlichen baumlose Umwelt. Auch wenn typische Pflanzen der unteren Arktis wie Heidekraut, Buschbirke und Erie selten bis nicht vorhanden sind. belegen sowohl Pollen wie Makrofossile ein Klima, das nicht kâlter war als das gegenwàrtig in der Tundra der unteren Arktis herrschende, wenn auch môglicherweise trockener. Fichten haben wohl in dem Gebiet uberlebt aber nur in kleinen Wàldchen und nicht als Uferwald

Paenibacillus lutrae sp. nov., A Chitinolytic Species Isolated from A River Otter in Castril Natural Park, Granada, Spain

A highly chitinolytic facultative anaerobic, chemoheterotrophic, endospore-forming, Gram-stain-positive, rod-shaped bacterial strain N10T was isolated from the feces of a river otter in the Castril Natural Park (Granada, Spain). It is a slightly halophilic, motile, catalase-, oxidase-, ACC deaminase- and C4 and C8 lipase-positive strain. It is aerobic, respiratory and has a fermentative metabolism using oxygen as an electron acceptor, produces acids from glucose and can fix nitrogen. Phylogenetic analysis of the 16S rRNA gene sequence, multilocus sequence analysis (MLSA) of 16S rRNA, gyrB, recA and rpoB, as well as phylogenomic analyses indicate that strain N10T is a novel species of the genus Paenibacillus, with the highest 16S rRNA sequence similarity (95.4%) to P. chitinolyticus LMG 18047T and <95% similarity to other species of the genus Paenibacillus. Digital DNA–DNA hybridization (dDDH) and average nucleotide identity (ANIb) were 21.1% and <75%, respectively. Its major cellular fatty acids were anteiso-C15:0, C16:0, and iso-C15:0. G + C content ranged between 45%–50%. Using 16S rRNA phylogenetic and in silico phylogenomic analyses, together with chemotaxonomic and phenotypic data, we demonstrate that type strain N10T (= CECT 9541T =LMG 30535T) is a novel species of genus Paenibacillus and the name Paenibacillus lutrae sp. nov. is proposed.This study was supported by a grant from the Spanish Ministerio de Educación y Ciencia (AGL-2015-68806-R) and from the Plan Andaluz de Investigación (Research Group BIO 188). Miguel A. Rodríguez is supported by a University of Granada Programme (Empleo Garantía Juvenil). José C. Reina is supported by an FPU fellowship from the Spanish Ministerio de Educación, Cultura y Deporte (FPU15/01717)

The development of UK Government policy on citizens' access to Public Sector Information

This paper describes research to investigate the development of United Kingdom government policy on citizens’ access to public sector information from 1996 to 2010, the first such significant project from an information science perspective. In addition to mapping UK policy documents, the main research method was the undertaking of semi-structured interviews with key stakeholders from both inside and outside government. Main findings are: uneven progress in the development of citizen-centric services; the continuing need for intermediaries; and a lack of information literacy policy. The paper also charts the increase in the opening up of government data for re-use during 2009 and 2010. It is considered significant that this increase in transparency, by both main political parties, should come at a time when trust in government was low, citizens’ expectations of electronic access to information were rising and the technology was enabling new channels for engagement. The influence of individuals was found to be considerable, for example by Sir Tim Berners-Lee, Professor Nigel Shadbolt and Tom Steinberg. Principles for citizens’ right of access to information are presented

Information policy making in the United Kingdom: the role of the information professional

Should a state have a single overarching national information policy? Currently for the United Kingdom, Buckley Owen, Cooke, and Matthews say no, and suggest that their analysis may be relevant elsewhere. Their conclusion is based on primary and secondary research including interviews with policymakers/implementers at the highest level. In their investigation into UK government policy on citizens’ access to Public Sector Information, they map responsibility for eighteen different information policy issues across nine government departments, noting the diversity of the issues. Instead of a single rule, they offer a “framework” of elements, often representing cross-cutting issues, and offer suggestions for managing their coordination. They note the influence of experts and lobbyists on this process, and see a potential role for “information professionals” who know both technology and policy, with the relevant professional body playing a leading role. The authors conclude with ten recommendations for operationalizing their approach

Relating near-Earth observations of an interplanetary coronal mass ejection to the conditions at its site of origin in the solar corona

A halo coronal mass ejection (CME) was detected on January 20, 2004. We use solar remote sensing data (SOHO, Culgoora) and near-Earth in situ data (Cluster) to identify the CME source event and show that it was a long duration flare in which a magnetic flux rope was ejected, carrying overlying coronal arcade material along with it. We demonstrate that signatures of both the arcade material and the flux rope material are clearly identifiable in the Cluster and ACE data, indicating that the magnetic field orientations changed little as the material traveled to the Earth, and that the methods we used to infer coronal magnetic field configurations are effective