Effects of Covid: Non-essential v Essential Industries

As the year 2020 has finally come to an end and the end of Covid is in near sight, it is important for us to look back at how it has shaped the world from an economic perspective. Ever since the closure of most of the U.S. and global economy in March 2020 it has made us deem which companies we consider essential and non-essential. This major decision came as all governments across the world had to close the operations of as many companies they could to limit the spread of the covid-19 virus. This major choice of determining what had to shut down and which companies could remain open split the economy into two major industries, nonessential and essential. With that idea in mind, I began to look into industries that fall into each of these categories. The two essential companies that I focus on from this time period is Walmart (WMT) and Tyson Foods (TSN). The two non-essential companies that I have focused on from this time period is American Airlines (AAL) and AMC Theaters (AMC). The expectation of my research is to see that the companies that are essential to perform at the same level or exceed their normal numbers and for the non-essential companies to see a major decline in their numbers. Within each company, the goal of my research has been to look into the financial statements of each company from December 31, 2019 to December 31, 2020 while looking at the quarterly results of each period. While doing that research, I have determined that the best way to explain what has happened is to (1) examine each company against each other on specific account balances from their financial statements and (2) examine each company individually to see what parts of their revenues or expenses have been affected by the Covid-19 pandemic

Assessment of the effects of malaria and anemia in pregnant Malawian women before and after treatment of moderate malnutrition

ABSTRACT Assessment of the Effects of Malaria and Anemia in Pregnant Malawian Women Before and After Treatment of Moderate Malnutrition William Shipley Background: Moderate acute malnutrition (MAM) can lead to adverse maternal and infant outcomes and possibly further complications. Supplementary foods or treatments with high quality nutrients should be administered to those with MAM in hopes to increase the chance of healthy maternal and infant outcomes. Sometimes supplementary food is not enough to overcome MAM and disease may play a role, particularly in pregnant malnourished women. Objective: To determine if the effects of malaria and anemia moderated the effect of nutritional treatments (one of the three given nutritional interventions) used to improve malnutrition and achieve a MUAC ≥ 23 cm during study participation. Additionally, this research serves to assess whether the relationship between malaria and anemia is associated with malnutrition status. Methods: Women were given a dose of IPTp at each antenatal visit between zero and four total IPTp doses. Infant anthropometrics – length, weight, head circumference, and MUAC were taken at birth, 6 weeks, and 3 months. Maternal hemoglobin levels were assessed at enrollment and after 10 weeks of enrollment as well as infant hemoglobin at 3 months. Anemia was defined by a hemoglobin less than 11.0 g/dL. Mild anemia was defined as hemoglobin greater than 7.0 but less than 9.9 g/dL and moderate anemia was defined by hemoglobin values 9.9 or greater but less than 11.0 g/dL. Analysis was completed using ANOVA, and if any significant differences were observed, they were compared via Tukey HSD (continuous) or Chi-squared test (categorical). Results: Total number of IPTp doses was found to be a more statistically significant predictor of maternal weight gain during treatment than timing of the doses. It stands to reason that women receiving three or more IPTp doses was the most beneficial for women during treatment as it saw the highest increases in maternal weight gain. At baseline, women that achieved a MUAC \u3e 23 cm during the study was 32.0% (n = 1805). The greatest proportion of women, after adjustment, that achieved a MUAC ≥ 23 cm was seen in women receiving four (47.3 %) and three (37.8 %) total IPTp doses during pregnancy. Maternal weight gain correlated closely with hemoglobin at enrollment (p-value = 0.0111). Total number of IPTp doses received during pregnancy was not found to have a statistical effect on infant hemoglobin or anemia at three months. Infant length at six weeks was higher in infants from mothers that received two or three IPTp doses compared to mothers that received one IPTp dose (p-value = 0.0218). A p-value below 0.05 by total number of IPTp doses was observed for infant weight, head circumference, and MUAC at birth, six weeks, and three months. Conclusion: At least three IPTp was effective in improving maternal weight gain and achievement of MUAC \u3e 23 cm as well as improved many infant outcomes. Hemoglobin at enrollment was a predictor of maternal weight gain during tx but was not associated with any other outcomes

CRIMINAL LAW AND PROCEDURE - STATUTES-CONSTITUTIONALITY OF CRIMINAL PENALTIES FOR UNREASONABLE DEDUCTIONS UNDER FEDERAL INCOME TAX STATUTE

Defendant was indicted for attempting to evade the federal tax on the income of a certain corporation for the years 1933 to 1936. In providing for deductions from gross income, the statute permits a reasonable allowance for salaries or other compensation for personal services. The government charged that the defendant was a party to a fraudulent scheme whereby, under the guise of paying commissions for services, which commissions were · deducted from gross income, the corporation distributed profits to its stockholders. The trial court submitted to the jury the issue whether the deduction represented a reasonable allowance for the services rendered. The circuit court of appeals held that defendant could not be found guilty of criminal violation of the statute merely by virtue of payment of unreasonable compensation for services actually rendered, but only for deductions taken for payments made when no services were in fact rendered. Held, defendant may be found guilty if the payments were unreasonable, and it was not error to submit this issue to the jury. United States v. Ragen, 314 U.S. 513, 62 S. Ct. 374 (1942)

ADMINISTRATIVE LAW - SELECTIVE SERVICE ACT - FINALITY OF LOCAL DRAFT BOARD\u27S CLASSIFICATIONS

The wife of a registrant who had been placed in class I-A and inducted into the army under the Selective Training and Service Act of 1940 petitioned the federal district court for a writ of habeas corpus to secure her husband\u27s release, contending that the draft board had acted arbitrarily in classifying him. The petitioner and the registrant became engaged in December, 1939, at which time the date of their wedding was set for January 4, 1941. On November 20, 1940, the registrant filed his questionnaire with his local board, indicating that he then had no dependents but that he was to be married in January. On December 3, 1940, the board placed the registrant in class I, and he received his physical examination on January 3, 1941, the day before his marriage. The board changed the classification of the registrant from class I to class I-A on January 7, claiming that he had no dependents on the date of classification, which was December 3. Held, the proper date of classification was January 7; thus the registrant was released from the army because the local board had acted arbitrarily in refusing to find that the petitioner was a dependent. Application of Greenberg, (D. C. N. J. 1941) 39 F. Supp. 13

TAXATION - FEDERAL INCOME TAX - CONSTRUCTIVE RECEIPT OF INCOME BY LESSOR CORPORATION WHEN RENTS PAID DIRECTLY TO LESSOR\u27S STOCKHOLDERS

In 1864 the Joliet and Chicago Railroad Company made a perpetual lease without a defeasance clause of all of its property to another railroad company. Under the state law, the lease was a conveyance in fee. The lessee agreed to pay as rental an annual dividend of seven dollars a share on the then outstanding stock of the lessor, these payments to be made directly to the shareholders. The dividends paid by the lessee for the years 1931 to 1934 were taxed as income to the lessor, who now sues to recover the tax. Held, payments to the lessor\u27s stockholders constituted income to the lessor. United States v. Joliet & Chicago R.R., (U.S. 1942) 62 S. Ct. 442

TAXATION - FEDERAL ESTATE TAX - DEDUCTION ALLOWABLE FOR GIFTS TO CHARITY WHEN THERE HAS BEEN A COMPROMISE

The testator gave the residue of his estate to a charity. When the widow of the testator made known her intention to contest the will, the charity offered to give her a sum equivalent to twenty-five per cent of the amount it was to receive under the will. The widow then agreed to withdraw all objections to the probate of the will. The executors were not parties to the compromise agreement, nor was it incorporated in, or made a part of, the probate proceedings. The executors filed an estate tax return in which a deduction from the testator\u27s gross estate was claimed for the full amount of the residuary estate as a bequest to charity. The commissioner of internal revenue contended that the twenty-five per cent of the residue going to the widow by the terms of the compromise agreement was not deductible. Held, the amount received by the widow cannot be deducted from the gross estate since she took by inheritance. The amount to be deducted for testamentary charitable gifts must be the amount the charity actually receives, and not the amount provided for in the decedent\u27s will. In re Sage\u27s Estate, (C. C. A. 3d, 1941) 122 F. (2d) 480

TAXATION -- TAXING INCOME FROM SHORT-TERM FAMILY TRUST TO SETTLOR

In 1931 a settlor executed a deed of trust and transferred securities to the trustees, who were also the settlor\u27s lawyers. The trustees were to pay the income to the settlor\u27s wife, children and mother-in-law. The duration of the trust was six years and sixteen days, but it was provided that the trust would terminate before that time if the settlor or his wife died. At the termination of the trust the corpus was to be returned to the settlor. The settlor reserved no power to remove the trustees or to modify or revoke the trust or to control the management of the trust property. The commissioner of internal revenue sought to tax the income of the trust for the years 1934 and 1935 as income of the settlor although the trust was not created to satisfy any legal obligations of the settlor. Held, the net income of the trust is taxable to the settlor under section 22(a) of the Revenue Act of 1934. Commissioner of Internal Revenue v. Barbour, (C. C. A. 2d, 1941) 122 F. (2d) 165

WILLS - HOLOGRAPHIC REVOCATION - REFERENCE TO NONTESTAMENTARY ACT TO DETERMINE WILL TO WHICH REVOCATION REFERS

Testator deposited his last will and testament with a trust company for safekeeping and received a receipt acknowledging the deposit. Several years later he wrote on the bottom of the receipt: The Will and Testament above referred to I hereby declare void. The writing was signed and dated. On his death his widow alleged that he had died intestate and the probate court entered a decree recognizing the widow as sole distributee of the estate, valued at twelve million dollars. The legatees in the will instituted the present proceedings against the widow for a rule to show cause why she had not produced the will for probate. The widow answered that the will had been revoked. In reply plaintiffs pleaded that the will to which the revocation referred could be identified only if the receipt were incorporated into the revocation and that the receipt could not be incorporated by reference because it was not in the testator\u27s handwriting. Held, that the will was revoked. Reference may be made to a nontestamentary act for the purpose of rendering certain the will to which the revocation refers. Hessmer v. Edenhorn, 196 La. 575, 199 So. 647 (1941)

TRUSTS - DIVISION OF PROCEEDS FROM UNITED STATES SAVINGS BONDS BETWEEN LIFE TENANT AND REMAINDERMAN

Testator devised the residue of his estate in trust to pay the income to his wife for life and on her death to distribute the corpus to the children of the testator. The trustee bought ten-year bonds of the United· States Government known as United States Savings Bonds. The bonds did not bear interest payable at stated intervals, but were sold at a price sufficiently below their maturity value to yield a return equal to 2.9 per cent per annum, compounded semi-annually, it the bonds were held for the full ten years. The holder of such bonds may present them for redemption by the United States at any time after they have been outstanding sixty days. Redemption is made in accordance with a schedule which, after the first year, provides an increased redemption price every six months which is sufficiently in excess of the original purchase price to yield to the holder a return of 1.33 per cent to 2.84 per cent per annum, depending upon how early in the ten-year period the bonds are redeemed. The trustee proposed to pay the life tenant, from available cash belonging to the corpus, the amount of each six months\u27 increment in redemption value according to the schedule set out in the bond. The remainderman contended that since the bonds were purchased on a discount basis any increment in value belonged to the corpus, or that if the increment was income, it was not distributable income until it came into the possession of the trustee when the bonds were redeemed. Held, the increment on the bonds is distributable income. In re Wehner\u27s Will, 238 Wis. 557, 300 N. W. 241 (1941)

Guide to the Father William Shipley papers

Father William Shipley taught in the Philosophy Department at the University of San Diego for 45 years. His papers document the merger of the College for Women and College for Men particularly as it affected the Philosophy Departments. Additionally, Shipley\u27s papers include meeting minutes, notes and memoranda from the various committees on which Shipley served as well as records from the Immaculate Heart Seminary and the St. Francis Seminary. Finding Aids are tools used to aid research by describing the materials in a collection. University Records Finding Aids include historical and/or biographical information along with a description of the collection and a folder listing of the content. To view this collection please email University Archives and Special Collections staff at [email protected]://digital.sandiego.edu/findingaidsur/1014/thumbnail.jp