Saving SPACs from the SEC’s Potentially Ruinous Overreach

The resurgence of Special Purpose Acquisition Companies (“SPACs”) in the U.S. securities market has demonstrated potential as an alternative to the traditional initial public offering (“IPO”). However, the evolution of SPACs from their fraudulent “blank check” ancestors has left the Securities and Exchange Commission (“SEC”) weary of SPACs’ continued presence in the market. Currently, SPACs exist as an exception to Rule 419 and the Penny Stock Reform Act of 1990, thereby allowing them to escape the rigorous disclosure requirements that not only eradicated their ancestors, but also significantly burdened the timeline of the traditional IPO process. While many consider SPACs a unique opportunity for non-institutional investors to reap benefits similar to those seen in private equity, a closer look into their evolution in the market suggests an entirely different conclusion. This Comment offers a critical assessment of the SPAC structure and advances unique regulatory solutions. It begins with a focus on the landscape surrounding the SPAC structure, looking to the evolution of securities market regulations and the rise and evolution of the SPAC as an alternative to the traditional IPO. Following discussions on the various tensions present in the current form, this Comment sheds light on persistent issues lingering within the current form, illustrating the necessity for SPAC reform. Finally, this Comment proposes four solutions—bringing back investor voice, mitigating dilution to the investors, tidying disclosure requirements, and revisiting due diligence—and argues the need for SPAC creators to accept guidance from the SEC and look inward to SPAC performance to undergo self-reform in order to avoid the possibility of SPACs being regulated out of existence

‘Follow the Moon’ Development: Writing a Systematic Literature Review on Global Software Engineering Education

This presentation reflects on method and practice in Computer Science Education Research, through introducing the process of conducting a Systematic Literature Review. While Systematic Literature Reviews are an established research method within the Software Engineering discipline, they are a relatively unfamiliar research approach within Computer Science Education. Yet research disciplines can be strengthened by borrowing and adapting methods from other fields. I reflect on the rationale and underlying philosophy behind Systematic Reviews, and the implications for conducting a rigorous study and the quality of the resulting outputs. This chronicle of the journey of an ITiCSE working group, outlines the process we adopted and reflects on the methodological and logistical challenges we had to overcome in producing a review titled Challenges and Recommendations for the Design and Conduct of Global Software Engineering Courses. I conclude by discussing how systematic literature reviews can be adapted to an undergraduate teaching setting

Co-creating “smart” sustainable food futures with urban food growers

The futuristic visions, infrastructures, and developments of smart cities continue to gather pace, with municipal authorities and businesses in the UK investing increasing amounts of resources into their manifestation. At the same time local communities continue to be hard hit by austerity, with more local services being affected by government cuts, with the North-East of England being particularly affected. In this paper we report on a case study that aimed to explore how the top-down, technocentric, and corporate visions of smart cities stand in contrast to the reality of grassroots communities who are dealing with the consequences of austerity. Our case study focuses on a community of urban food growers. We describe our speculative and participatory approach that we devised for co-designing “smart” urban food-growing futures from the bottom-up with local residents in a deprived neighbourhood of Newcastle upon Tyne, and reflect on how they elicited realities and future visions that stand as a counterpoint to the corporate visions of future cities

Managing Requirements Change the Informal Way: When Saying 'No' is Not an Option

© 2016 IEEE. Software has always been considered as malleable. Changes to software requirements are inevitable during the development process. Despite many software engineering advances over several decades, requirements changes are a source of project risk, particularly when businesses and technologies are evolving rapidly. Although effectively managing requirements changes is a critical aspect of software engineering, conceptions of requirements change in the literature and approaches to their management in practice still seem rudimentary. The overall goal of this study is to better understand the process of requirements change management. We present findings from an exploratory case study of requirements change management in a globally distributed setting. In this context we noted a contrast with the traditional models of requirements change. In theory, change control policies and formal processes are considered as a natural strategy to deal with requirements changes. Yet we observed that "informal requirements changes" (InfRc) were pervasive and unavoidable. Our results reveal an equally 'natural' informal change management process that is required to handle InfRc in parallel. We present a novel model of requirements change which, we argue, better represents the phenomenon and more realistically incorporates both the informal and formal types of change

Theory of high-energy emission from the pulsar/Be-star system PSR 1259−-63 I: radiation mechanisms and interaction geometry

We study the physical processes of the PSR B1259-63 system containing a 47 ms pulsar orbiting around a Be star in a highly eccentric orbit. Motivated by the results of a multiwavelength campaign during the January 1994 periastron passage of PSR B1259-63, we discuss several issues regarding the mechanism of high-energy emission. Unpulsed power law emission from the this system was detected near periastron in the energy range 1-200 keV. We find that the observed high energy emission from the PSR B1259-63 system is not compatible with accretion or propeller-powered emission. Shock-powered high-energy emission produced by the pulsar/outflow interaction is consistent with all high energy observations. By studying the evolution of the pulsar cavity we constrain the magnitude and geometry of the mass outflow outflow of the Be star. The pulsar/outflow interaction is most likely mediated by a collisionless shock at the internal boundary of the pulsar cavity. The system shows all the characteristics of a {\it binary plerion} being {\it diffuse} and {\it compact} near apastron and periastron, respectively. The PSR B1259-63 cavity is subject to different radiative regimes depending on whether synchrotron or inverse Compton (IC) cooling dominates the radiation of electron/positron pairs advected away from the inner boundary of the pulsar cavity. The highly non-thermal nature of the observed X-ray/gamma-ray emission near periastron establishes the existence of an efficient particle acceleration mechanism within a timescale shown to be less than $\sim 10^2-10^3$ s. A synchrotron/IC model of emission of e\pm-pairs accelerated at the inner shock front of the pulsar cavity and adiabatically expanding in the MHD flow provides an excellent explanation of the observed time variableX-ray flux and spectrum from the PSRComment: 68 pages, accepted for publication in the Astrophys. J. on Aug. 26, 199

Newtonian Gravity and the Bargmann Algebra

We show how the Newton-Cartan formulation of Newtonian gravity can be obtained from gauging the Bargmann algebra, i.e., the centrally extended Galilean algebra. In this gauging procedure several curvature constraints are imposed. These convert the spatial (time) translational symmetries of the algebra into spatial (time) general coordinate transformations, and make the spin connection gauge fields dependent. In addition we require two independent Vielbein postulates for the temporal and spatial directions. In the final step we impose an additional curvature constraint to establish the connection with (on-shell) Newton-Cartan theory. We discuss a few extensions of our work that are relevant in the context of the AdS-CFT correspondence.Comment: Latex, 20 pages, typos corrected, published versio

Motivation, optimal experience and flow in first year computing science.

We examine the concept of motivation from the perspective of Self Determination Theory and give a brief overview of relevant results. We also consider the optimal state known as Flow and give an account of its conceptualisation in the theory due to Csikszentmihalyi. After discussion of ways in which these concepts can be measured, we describe a set of preliminary studies that investigate motivation and flow in the context of a first year computing class. We analyse student responses to enquiries about perceptions of motivation and flow experiences and look at links between them. We also discuss intrinsic motivation within the subject

Reliably Classifying Novice Programmer Exam Responses using the SOLO Taxonomy

Abstract: Past papers of the BRACElet project have described an approach to teaching and assessing students where the students are presented with short pieces of code, and are instructed to explain, in plain English, what the code does. The student responses to these types of questions can be analysed according to the SOLO taxonomy. Some students display an understanding of the code as a single, functional whole, while other students cannot âsee the forest for the treesâ . However, classifying student responses into the taxonomy is not always straightforward. This paper analyses the reliability of the SOLO taxonomy as a means of categorising student responses. The paper derives an augmented set of SOLO categories for application to the programming domain, and proposes a set of guidelines for researchers to use

Office worker response to an automated venetian blind and electric lighting system: A pilot study

A prototype integrated, dynamic building envelope and lighting system designed to optimize daylight admission and solar heat gain rejection on a real-time basis in a commercial office building is evaluated. Office worker response to the system and occupant-based modifications to the control system are investigated to determine if the design and operation of the prototype system can be improved. Key findings from the study are: (1) the prototype integrated envelope and lighting system is ready for field testing, (2) most office workers (N=14) were satisfied with the system, and (3) there were few complaints. Additional studies are needed to explain how illuminance distribution, lighting quality, and room design can affect workplans illuminance preferences