FASB: Making Financial Statements Mysterious

Since the passage of the Sarbanes-Oxley Act in 2002, the Financial Accounting Standards Board has passed rules that it promises will make corporate accounting more transparent. In fact, its revised Generally Accepted Accounting Principles have made it difficult for investors -- or even CEOs -- to understand a company's financial report. The first step in the wrong direction came when FASB mandated that companies list "intangibles" such as "goodwill" as corporate assets, artificially inflating balance sheets. After that, FASB meddled with the revenue recognition rules, in some cases not allowing companies to report revenue from cash payments received from a customer for a delivered product. Finally, and worst by far, FASB mandated punitive and nonsensical rules for so-called expensing of stock options. These accounting burdens, combined with the onerous yet ineffective mandates of the Sarbanes-Oxley Act, are starting to take a real toll on American businesses and markets. In 2007, only $8.5 billion or 7.7 percent of the total$109 billion in issuances of Initial Public Offerings were launched on U.S. stock exchanges, down from 60.8 percent a decade ago

Silicon Valley versus Corporate Welfare

The estimated $65 billion a year that the federal government now spends on corporate welfare programs harms U.S. industry in general and Silicon Valley companies in particular. The competitiveness of America's semiconductor firms and other high-technology industries would benefit if corporate subsidies were eliminated altogether and the savings were devoted to reducing corporate income taxes, the capital gains tax, or the personal income tax. Given Congress's reluctance to vote down corporate pork, one strategy for eliminating corporate welfare would be to form an independent commission to identify unnecessary subsidies. That would force Congress to vote yes or no on a package of corporate spending subsidies. More than 50 Silicon Valley CEOs agree with this critical assessment of federal subsidies to industry and have signed a "Declaration of Independence" from corporate welfare. In the statement, which appears in the Appendix of this study, the CEOs urge Congress to end corporate welfare "even if it means funding cuts to my own company.

Complex networks

This chapter contains a brief introduction to complex networks, and in particular to small world and scale free networks. We show how to apply the replica method developed to analyse random matrices in statistical physics to calculate the spectral densities of the adjacency and Laplacian matrices of a scale free network. We use the effective medium approximation to treat networks with finite mean degree and discuss the local properties of random matrices associated with complex networks

Comparison of epifluorescent viable bacterial count methods

Two methods, the 2-(4-Iodophenyl) 3-(4-nitrophenyl) 5-phenyltetrazolium chloride (INT) method and the direct viable count (DVC), were tested and compared for their efficiency for the determination of the viability of bacterial populations. Use of the INT method results in the formation of a dark spot within each respiring cell. The DVC method results in elongation or swelling of growing cells that are rendered incapable of cell division. Although both methods are subjective and can result in false positive results, the DVC method is best suited to analysis of waters in which the number of different types of organisms present in the same sample is assumed to be small, such as processed waters. The advantages and disadvantages of each method are discussed

Integrated payload and mission planning, phase 3. Volume 2: Logic/Methodology for preliminary grouping of spacelab and mixed cargo payloads

The logic and methodology for a preliminary grouping of Spacelab and mixed-cargo payloads is proposed in a form that can be readily coded into a computer program by NASA. The logic developed for this preliminary cargo grouping analysis is summarized. Principal input data include the NASA Payload Model, payload descriptive data, Orbiter and Spacelab capabilities, and NASA guidelines and constraints. The first step in the process is a launch interval selection in which the time interval for payload grouping is identified. Logic flow steps are then taken to group payloads and define flight configurations based on criteria that includes dedication, volume, area, orbital parameters, pointing, g-level, mass, center of gravity, energy, power, and crew time

Analytical design and performance studies of the nuclear light bulb engine

Analytical studies were conducted to investigate in detail the heat balance characteristics of the nuclear light bulb engine. Distributions of energy deposition to all engine components from the fission process, conduction and convection, and thermal radiation were considered. Where uncertainties in basic data or heat transfer characteristics were encountered, ranges of heat loads were calculated and reference values were selected. The influence of these heat loads on engine performance, space radiator requirements, and cooling sequence and cooling circuit designs was determined. The analyses resulted in revisions to the previously reported reference engine characteristics, principally in the heat loads to some engine components and in the cooling sequence. These revisions were incorporated in the engine dynamics digital computer simulation program. No significant changes occurred in the dynamic response of the engine to perturbations in fuel injection rate, reactivity or exhaust nozzle area

Analytical studies of nuclear light bulb engine radiant heat transfer and performance characteristics

Analytical model of nuclear light bulb engine radiant heat transfer and engine performance, dynamics and control, heat loads and shutdown characteristic

Effects of alcohol on subjective ratings of prospective and everyday memory deficits

Background: Research has shown that heavy alcohol use has a detrimental effect on retrospective memory. Less is known about the effect of alcohol on everyday memory. Methods: This study examined self-ratings of two aspects of memory performance: prospective memory (for example, forgetting to pass on a message) and everyday memory (measured by cognitive failures, such as telling someone a joke that you have told them before). To ensure anonymity and expand on the numbers of participants used in previous studies, data were collected by using the Internet. Data from 763 participants remained after data screening. Results: After controlling for other drug and strategy use, there was clear evidence that differential use of alcohol was associated with impairments in the long-term aspect of prospective memory and with an increased number of cognitive failures. Conclusions: These results support and extend the findings of previous research: our findings are consistent with the idea that heavy use of alcohol does have a significant and negative effect on everyday cognitive performance. Possible causes of these impairments are discussed

Self-rated everyday prospective memory abilities of cigarette smokers and non-smokers: a web based study

The present study examined self-ratings of two aspects of everyday memory performance: long-term prospective memory—measured by the prospective memory questionnaire (PMQ), and everyday memory—measured by the everyday memory questionnaire (EMQ). Use of other substances was also measured and used as covariates in the study. To ensure confidentiality and to expand the numbers used in previous studies, an Internet study was carried out and data from 763 participants was gathered. After controlling for other drug use and strategy use, the data from the PMQ revealed that smokers reported a greater number of long-term prospective memory errors than non-smokers. There were also differences between light and heavier smokers in long-term prospective memory, suggesting that nicotine may have a dose-dependent impact upon long-term prospective memory performance. There was also a significant ANOVA group effect on the EMQ, although the trend for more memory errors amongst the heavier smokers was statistically only borderline (p = .057). These findings suggest there are selective memory deficits associated with smoking and that long-term prospective memory deficits should be added to the growing list of problems associated with cigarette use

A statistical technique for determining rainfall over land employing Nimbus-6 ESMR measurements

An empirical method was employed to delineate synoptic scale rainfall over land utilizing Nimbus-6 ESMR measurements