And then there were four: a study of UK market concentration - causes, consequences and the scope for market adjustment

While concentration measures are a good indicator of market structure, the link with competitiveness is more complex than often assumed. In particular, the modern theory of industrial organisation makes no clear statement regarding the impact of concentration on competition - the focus of this paper is concentration and no inferences are made about competitive aspects of the market. The extent and nature of concentration within the UK listed company audit market as at April, 2002 and, pro forma, after the collapse of Andersen is documented and analysed in detail (by firm, market segment and industry sector). The largest four firms held 90 per cent of the market (based on audit fees) in 2002, rising to 96 per cent with the demise of Andersen. A single firm, Pricewaterhouse-Coopers, held 70 per cent or more of the share of six out of 38 industry sectors, with a share of 50 per cent up to 70 per cent in a further seven sectors. The provision of non-audit services (NAS) by incumbent auditors is also considered. As at April 2002, the average ratio of non-audit fees (paid to auditor) to audit fees was 208 per cent, and exceeded 300 per cent in seven sectors. It is likely, however, that disposals by firms of their management consultancy and outsource firms, combined with the impact of the Smith Report on audit committees will serve to reduce these ratios. Another finding is that audit firms with expertise in a particular sector appeared to earn significantly higher nonaudit fees from their audit clients in that sector. The paper thus provides a solid empirical basis for debate. The subsequent discussion considers the implications for companies and audit firms of the high level of concentration in the current regulatory climate, where no direct regulatory intervention is planned

Turnover of outer and inner membrane proteins of rat liver mitochondria

Recent reports on the properties and composition of outer and inner mitochondrial membranes suggest that outer and inner membranes of mitochondria are derived from different sources of the cell [l-3]. I

Vehicle Routing using the Sweep Algorithm In Parallel

This paper presents a parallel version of the Sweep Algorithm, a heuristic solution to the smgle-termma] vehicle routing problem The Sweep Algorithm uses a duster-first route-second approach in finding a near-optimal set of routes. The clusters of delivery points are formed by using the terminal as the center and moving around it m a sweeping fashion After a duster is defined, the route is found with a traveling salesperson algorithm. The parallel version begins the sweep at different angles and performs both forward and backward sweeps. Each node handles a sweep and returns information concerning total distance traveled to the host. The host then derides which node has the best routes and requests the specific information. The traveling salesperson algorithm is the nearest neighbor method. This starts the route at the point in the duster nearest the terminal and proceeds by visiting the nearest unvisited point. Since this procedure is called many times in the course of finding all the routes, the quick but good results that this method yields were attractive. Also discussed are other parallel implementations of this problem and ideas for further research

Sites of Biosynthesis of Outer and Inner Membrane Proteins of Neurospora crassa Mitochondria

Outer and inner membranes of Neurospora crassa mitochondria were separated by the combined swelling, shrinking, sonication procedure. Membranes were characterized by electron microscopy and by marker enzyme activities. A red carotenoid pigment was found to be concentrated in the outer membrane. The inner mitochondrial membrane was resolved into about 20 protein bands on polyacrylamide gel electrophoresis, whereas the outer membrane shows essentially one single protein band. Only negligible incorporation of radioactive amino acids occurs into outer membrane when isolated mitochondria are synthesizing polypeptide chains. In agreement with this observation labeling of outer membrane protein is almost entirely blocked, when whole Neurospora cells are incubated with radioactive amino acids in the presence of cycloheximide, an inhibitor of cytoplasmic protein synthesis. Finally, the essential electrophoretic protein band from outer membrane does not become labeled when mitochondria are incubated with radioactive amino acids either in vitro or in vivo in the presence of cycloheximide. It is concluded that the vast majority, if not all, of the outer membrane protein is synthesized by the cytoplasmic system and that polypeptide chains formed by the mitochondrial ribosomes are integrated into the inner mitochondrial membrane

Uncertainty in the numerical modelling of masonry triplet tests under dynamic loading

Masonry structures have been broadly used worldwide for centuries. These structures are likely to be subjected to seismic movements, malicious or accidental blast and/or impact loading. Expanding the current body of knowledge of how masonry structures perform under such conditions and developing reliable and robust modelling techniques is essential to improve both the efficiency and safety of the design and retrofitting of such structures. A great deal of research is currently ongoing to understand the behaviour of masonry under shock and impact loading, and this is proving to be a challenging endeavour. Masonry construction on the whole is surrounded by a high degree of variability ranging from the heterogeneity of the materials used, the degree of workmanship during construction and the uncertainty regarding the physical and mechanical properties of the brick-to-mortar interface. Masonry is known to experience a dynamic enhancement of its strength properties when subjected to impact loading and dynamic increase factors (DIFs) have been used to adjust static masonry properties accordingly when subjected to this type of loading. These DIFs are derived from sparse experimental tests and their use can be severely limited to the conditions of the tests performed, and the results obtained can carry a high degree of uncertainty. This paper considers the uncertainty present at the brick-to-mortar interface, by using Monte Carlo simulations, when subjected to dynamic loading in a standard triplet test using LS-DYNA. The results of the modelling have been compared, contrasted and discussed for use in a larger research project on the robust characterisation of masonry structures when subjected to blast and seismic loadin

Clinical surveillance of thrombotic microangiopathies in Scotland, 2003-2005

The prevalence, incidence and outcomes of haemolytic uraemic syndrome (HUS) and thrombotic thrombocytopaenic purpura (TTP) are not well established in adults or children from prospective studies. We sought to identify both outcomes and current management strategies using prospective, national surveillance of HUS and TTP, from 2003 to 2005 inclusive. We also investigated the links between these disorders and factors implicated in the aetiology of HUS and TTP including infections, chemotherapy, and immunosuppression. Most cases of HUS were caused by verocytotoxin-producing Escherichia coli (VTEC), of which serotype O157 predominated, although other serotypes were identified. The list of predisposing factors for TTP was more varied although use of immunosuppressive agents and severe sepsis, were the most frequent precipitants. The study demonstrates that while differentiating between HUS and TTP is sometimes difficult, in most cases the two syndromes have quite different predisposing factors and clinical parameters, enabling clinical and epidemiological profiling for these disorders

Staying over-optimistic about the future : uncovering attentional biases to climate change messages

There is considerable concern that the public are not getting the message about climate change. One possible explanation is ‘optimism bias’, where individuals overestimate the likelihood of positive events happening to them and underestimate the likelihood of negative events. Evidence from behavioural neuroscience suggest that this bias is underpinned by selective information processing, specifically through a reduced level of neural coding of undesirable information, and an unconscious tendency for optimists to avoid fixating negative information. Here we test how this bias in attention could relate to the processing of climate change messages. Using eye tracking, we found that level of dispositional optimism affected visual fixations on climate change messages. Optimists spent less time (overall dwell time) attending to any arguments about climate changes (either ‘for’ or ‘against’) with substantially shorter individual fixations on aspects of arguments for climate change, i.e. those that reflect the scientific consensus but are bad news. We also found that when asked to summarise what they had read, non-optimists were more likely to frame their recall in terms of the arguments ‘for’ climate change; optimists were significantly more likely to frame it in terms of a debate between two opposing positions. Those highest in dispositional optimism seemeed to have the strongest and most pronounced level of optimism bias when it came to estimating the probability of being personally affected by climate change. We discuss the importance of overcoming this cognitive bias to develop more effective strategies for communicating about climate change

Expression and function of alpha(v)beta(3) and alpha(v)beta(5) integrins in the developing pancreas: roles in the adhesion and migration of putative endocrine progenitor cells.

Cell-cell and cell-matrix interactions play a critical role in tissue morphogenesis and in homeostasis of adult tissues. The integrin family of adhesion receptors regulates cellular interactions with the extracellular matrix, which provides three-dimensional information for tissue organization. It is currently thought that pancreatic islet cells develop from undifferentiated progenitors residing within the ductal epithelium of the fetal pancreas. This process involves cell budding from the duct, migration into the surrounding mesenchyme, differentiation, and clustering into the highly organized islet of Langerhans. Here we report that alpha(v)beta(3) and alpha(v)beta(5), two integrins known to coordinate epithelial cell adhesion and movement, are expressed in pancreatic ductal cells and clusters of undifferentiated cells emerging from the ductal epithelium. We show that expression and function of alpha(v)beta(3) and alpha(v)beta(5) integrins are developmentally regulated during pancreatic islet ontogeny, and mediate adhesion and migration of putative endocrine progenitor cells both in vitro and in vivo in a model of pancreatic islet development. Moreover, we demonstrate the expression of fibronectin and collagen IV in the basal membrane of pancreatic ducts and of cell clusters budding from the ductal epithelium. Conversely, expression of vitronectin marks a population of epithelial cells adjacent to, or emerging from, pancreatic ducts. Thus, these data provide the first evidence for the contribution of integrins alpha(v)beta(3) and alpha(v)beta(5) and their ligands to morphogenetic events in the human endocrine pancreas