Some internal effects of Mauget tree injections

Abstract. Negligible amounts of discolored wood and cambial dieback were associated with control Mauget injection wounds (no chemicals added) made 1 year earlier on red maple, white oak, and shagbark hickory. Columns of discolored wood and some camblal dieback were associated with wounds that had been injected with Bidrin or MetaSystox-R. Columns of discolored wood and very little cambial dieback were associated with wounds that had been injected with Fungisol or Stemix. Injured tissues associated with all wounds were compartmentalized in the wood present at the time of Injection; wood that formed subsequently was not Infected. The injection of diseased trees or those of poor vigor with a wide variety of therapeutic materials is currently receiving a great amount of attention Many factors can affect the internal condition of an injected tree: the type, position, and number of wounds; the skill of the operator; the condition of the tree at time of injection; the type and amount of material introduced; and the time of year of injection. Some of these same factors may affect the rate of uptake of the chemicals The present study sought to determine the amount of discolored wood and the extent of cambial dieback associated with wounds from one type of injection; it did not attempt to gauge the efficacy of the materials injected. The observations and measurements were made 1 and 2 years after the injections. Materials and Methods The injection method involved the insertion of a metal tube, 3/16 inch in diameter by 2% inches long, into the tree to a depth of 3/4 inch, and the attachment to the tube of a capsule that contained a liquid chemical material. Details of the method have been published (Heffeman 1968). In all experiments, only trained and properly licensed professional arborists administered the materials, and all procedures were those recommended for commercial application. Study location. Trees in all experiments were on land owned by the Gunbarrel Valley Wildlife Preserve and by Winfred Orndorff, near Yellow Springs, West Virginia. Trees were on gentle slopes and flat bottomland that had been pastureland more than 50 years earlier. As a result, and because of past fires, most of the trees were in even-aged stands. The predominant species were white oak, red maple, shagbark hickory and locust. Trees studied. Three species of trees were used: red maple, Acer rubrum L; white oak, Quercus alba L; and shagbark hickory, Carya ovata (Mill.) K. Koch. Trees were approximately 40 years old, 7 to 20 cm in diameter at 1.4 m aboveground, and 12 to 18 m in height. Trees selected for study had few external signs of internal defects. Injections, May 1974. A total of 50 red maple trees each received three injections of 2 ml of the insecticide, Inject-A-Cide B (Bidrin) (dimethyl phosphate of 3-hydroxy-N, N-dimethyl-c/scrotonamide); 50 red maples each received three injections of 4 ml of a nutrient material, Inject-AMln (Stemix) (total nitrogen 0.7%, available phosphoric acid 1.0%, soluble potash 0.9%, copper 0.1 %, iron 0.4%, manganese 0.1 %, and zinc 0.4%); and 25 red maples received 4 ml of water as controls. The injections were made approximately 1.4 m aboveground at sites spaced evenly around the stem. The injection tubes, with the empty capsule attached, were removed after several hours. Injections, May 1975. The same procedure as described above was used to inject 90 white oaks. Each experimental block of trees contained 10 injected with a chemical and 5 injected with water; all trees were on the same site. Six treatment blocks were established: Stemix 4 ml and Bidrin 2 ml/wound (S1B); Stemix 4 ml and

Valuing water for sustainable development

Achieving universal, safely managed water and sanitation services by 2030, as envisioned by the United Nations (UN) Sustainable Development Goal (SDG) 6, is projected to require capital expenditures of USD 114 billion per year (1). Investment on that scale, along with accompanying policy reforms, can be motivated by a growing appreciation of the value of water. Yet our ability to value water, and incorporate these values into water governance, is inadequate. Newly recognized cascading negative impacts of water scarcity, pollution, and flooding underscore the need to change the way we value water (2). With the UN/World Bank High Level Panel on Water having launched the Valuing Water Initiative in 2017 to chart principles and pathways for valuing water, we see a global opportunity to rethink the value of water. We outline four steps toward better valuation and management (see the box), examine recent advances in each of these areas, and argue that these four steps must be integrated to overcome the barriers that have stymied past efforts

How Local is the Local Diversity? Reinforcing Sequential Determinantal Point Processes with Dynamic Ground Sets for Supervised Video Summarization

The large volume of video content and high viewing frequency demand automatic video summarization algorithms, of which a key property is the capability of modeling diversity. If videos are lengthy like hours-long egocentric videos, it is necessary to track the temporal structures of the videos and enforce local diversity. The local diversity refers to that the shots selected from a short time duration are diverse but visually similar shots are allowed to co-exist in the summary if they appear far apart in the video. In this paper, we propose a novel probabilistic model, built upon SeqDPP, to dynamically control the time span of a video segment upon which the local diversity is imposed. In particular, we enable SeqDPP to learn to automatically infer how local the local diversity is supposed to be from the input video. The resulting model is extremely involved to train by the hallmark maximum likelihood estimation (MLE), which further suffers from the exposure bias and non-differentiable evaluation metrics. To tackle these problems, we instead devise a reinforcement learning algorithm for training the proposed model. Extensive experiments verify the advantages of our model and the new learning algorithm over MLE-based methods

Too Big to Fail — U.S. Banks’ Regulatory Alchemy: Converting an Obscure Agency Footnote into an “At Will” Nullification of Dodd-Frank’s Regulation of the Multi-Trillion Dollar Financial Swaps Market

The multi-trillion-dollar market for, what was at that time wholly unregulated, over-the-counter derivatives (“swaps”) is widely viewed as a principal cause of the 2008 worldwide financial meltdown. The Dodd-Frank Act, signed into law on July 21, 2010, was expressly considered by Congress to be a remedy for this troublesome deregulatory problem. The legislation required the swaps market to comply with a host of business conduct and anti-competitive protections, including that the swaps market be fully transparent to U.S. financial regulators, collateralized, and capitalized. The statute also expressly provides that it would cover foreign subsidiaries of big U.S. financial institutions if their swaps trading could adversely impact the U.S. economy or represent the use of extraterritorial trades as an attempt to “evade” Dodd-Frank. In July 2013, the CFTC promulgated an 80-page, triple-columned, and single-spaced “guidance” implementing Dodd-Frank’s extraterritorial reach, i.e., that manner in which Dodd-Frank would apply to swaps transactions executed outside the United States. The key point of that guidance was that swaps trading within the “guaranteed” foreign subsidiaries of U.S. bank holding company swaps dealers were subject to all of Dodd-Frank’s swaps regulations wherever in the world those subsidiaries’ swaps were executed. At that time, the standardized industry swaps agreement contemplated that, inter alia, U.S. bank holding company swaps dealers’ foreign subsidiaries would be “guaranteed” by their corporate parent, as was true since 1992. In August 2013, without notifying the CFTC, the principal U.S. bank holding company swaps dealer trade association privately circulated to its members standard contractual language that would, for the first time, “deguarantee” their foreign subsidiaries. By relying only on the obscure footnote 563 of the CFTC guidance’s 662 footnotes, the trade association assured its swaps dealer members that the newly deguaranteed foreign subsidiaries could (if they so chose) no longer be subject to Dodd-Frank. As a result, it has been reported (and it also has been understood by many experts within the swaps industry) that a substantial portion of the U.S. swaps market has shifted from the large U.S. bank holding companies swaps dealers and their U.S. affiliates to their newly deguaranteed “foreign” subsidiaries, with the attendant claim by these huge big U.S. bank swaps dealers that Dodd-Frank swaps regulation would not apply to these transactions. The CFTC also soon discovered that these huge U.S. bank holding company swaps dealers were “arranging, negotiating, and executing” (“ANE”) these swaps in the United States with U.S. bank personnel and, only after execution in the U.S., were these swaps formally “assigned” to the U.S. banks’ newly “deguaranteed” foreign subsidiaries with the accompanying claim that these swaps, even though executed in the U.S., were not covered by Dodd-Frank. In October 2016, the CFTC proposed a rule that would have closed the “deguarantee” and “ANE” loopholes completely. However, because it usually takes at least a year to finalize a “proposed” rule, this proposed rule closing the loopholes in question was not finalized prior to the inauguration of President Trump. All indications are that it will never be finalized during a Trump Administration. Thus, in the shadow of the recent tenth anniversary of the Lehman failure, there is an understanding among many market regulators and swaps trading experts that large portions of the swaps market have moved from U.S. bank holding company swaps dealers and their U.S. affiliates to their newly deguaranteed foreign affiliates where Dodd- Frank swaps regulation is not being followed. However, what has not moved abroad is the very real obligation of the lender of last resort to rescue these U.S. swaps dealer bank holding companies if they fail because of poorly regulated swaps in their deguaranteed foreign subsidiaries, i.e., the U.S. taxpayer. While relief is unlikely to be forthcoming from the Trump Administration or the Republican-controlled Senate, some other means will have to be found to avert another multi-trillion-dollar bank bailout and/or a financial calamity caused by poorly regulated swaps on the books of big U.S. banks. This paper notes that the relevant statutory framework affords state attorneys general and state financial regulators the right to bring so-called “parens patriae” actions in federal district court to enforce, inter alia, Dodd- Frank on behalf of a state’s citizens. That kind of litigation to enforce the statute’s extraterritorial provisions is now badly needed

Corporate water risk - and return

Corporate water risk is a function of resource dependence, which exposes firms to uncertainty. Firms rationally seek to reduce this risk, and this shapes their disclosure strategies. However, the consequence is that corporate water risk disclosure is becoming increasingly unfit for purpose. As current approaches begin to acquire institutional legitimacy and the path-dependent label of best practice, a status quo is becoming embedded, reinforced through mimetic behaviour. The agency problem that this creates is unchecked; in part because of the legitimacy acquired by the disclosure strategies, but also because of temporal myopia exhibited by investors, which contributes to unpredictable decision-making. The status quo also results in sub-optimal resource allocation, a problem that is compounded by the large and growing global infrastructure deficit for water supply and services. This thesis sets out a framework by which the disclosure of corporate water risk can be meaningfully evaluated by investors and other stakeholders; and proposes how the water infrastructure investment gap could be narrowed by the development and application of the corporate water return concept. The research builds on empirical foundations to offer new approaches that address the problems of the status quo. First, it empirically explores perceptions of best practice in terms of water risk disclosure, from the perspective of both listed firms and leading institutional investors (Chapters 3 and 4). Second, it proposes a methodology through which firms can disclose water risks in a systematic format; and advances corporate water return as a complementary concept to water risk, in order to catalyse corporate investment in water infrastructure (Chapters 5 and 6). Resource dependence theory, institutional theory, and stakeholder theory are combined to create a trio of integrative, explicative conceptual narratives that form the overarching thesis structure. The research also draws on other themes from economic geography, including proximity; strategic cognition; transaction costs; and real options theory.

Corporate water risk - and return

Corporate water risk is a function of resource dependence, which exposes firms to uncertainty. Firms rationally seek to reduce this risk, and this shapes their disclosure strategies. However, the consequence is that corporate water risk disclosure is becoming increasingly unfit for purpose. As current approaches begin to acquire institutional legitimacy and the path-dependent label of best practice, a status quo is becoming embedded, reinforced through mimetic behaviour. The agency problem that this creates is unchecked; in part because of the legitimacy acquired by the disclosure strategies, but also because of temporal myopia exhibited by investors, which contributes to unpredictable decision-making. The status quo also results in sub-optimal resource allocation, a problem that is compounded by the large and growing global infrastructure deficit for water supply and services. This thesis sets out a framework by which the disclosure of corporate water risk can be meaningfully evaluated by investors and other stakeholders; and proposes how the water infrastructure investment gap could be narrowed by the development and application of the corporate water return concept. The research builds on empirical foundations to offer new approaches that address the problems of the status quo. First, it empirically explores perceptions of best practice in terms of water risk disclosure, from the perspective of both listed firms and leading institutional investors (Chapters 3 and 4). Second, it proposes a methodology through which firms can disclose water risks in a systematic format; and advances corporate water return as a complementary concept to water risk, in order to catalyse corporate investment in water infrastructure (Chapters 5 and 6). Resource dependence theory, institutional theory, and stakeholder theory are combined to create a trio of integrative, explicative conceptual narratives that form the overarching thesis structure. The research also draws on other themes from economic geography, including proximity; strategic cognition; transaction costs; and real options theory.

Corporate water risk - and return

Corporate water risk is a function of resource dependence, which exposes firms to uncertainty. Firms rationally seek to reduce this risk, and this shapes their disclosure strategies. However, the consequence is that corporate water risk disclosure is becoming increasingly unfit for purpose. As current approaches begin to acquire institutional legitimacy and the path-dependent label of best practice, a status quo is becoming embedded, reinforced through mimetic behaviour. The agency problem that this creates is unchecked; in part because of the legitimacy acquired by the disclosure strategies, but also because of temporal myopia exhibited by investors, which contributes to unpredictable decision-making. The status quo also results in sub-optimal resource allocation, a problem that is compounded by the large and growing global infrastructure deficit for water supply and services. This thesis sets out a framework by which the disclosure of corporate water risk can be meaningfully evaluated by investors and other stakeholders; and proposes how the water infrastructure investment gap could be narrowed by the development and application of the corporate water return concept. The research builds on empirical foundations to offer new approaches that address the problems of the status quo. First, it empirically explores perceptions of best practice in terms of water risk disclosure, from the perspective of both listed firms and leading institutional investors (Chapters 3 and 4). Second, it proposes a methodology through which firms can disclose water risks in a systematic format; and advances corporate water return as a complementary concept to water risk, in order to catalyse corporate investment in water infrastructure (Chapters 5 and 6). Resource dependence theory, institutional theory, and stakeholder theory are combined to create a trio of integrative, explicative conceptual narratives that form the overarching thesis structure. The research also draws on other themes from economic geography, including proximity; strategic cognition; transaction costs; and real options theory. This thesis is not currently available in ORA