Saving Disgorgement from Itself: SEC Enforcement After Kokesh v. SEC

Disgorgement is under threat. In Kokesh v. SEC , the Supreme Court held that disgorgement—a routine remedy that allows the SEC to recoup ill-gotten gains from financial wrongdoers—is subject to a 5-year statute of limitations because it functions as a “penalty.” This ruling threatens to upend the traditional conception of disgorgement as an ancillary remedy granted by the court’s equity power, because there are no penalties at equity. With the possibility that Kokesh’s penalty reasoning could be adopted beyond the statute of limitations context, the future of disgorgement in federal court is in doubt. This Note proposes a way forward that allows for disgorgement’s continued viability. The SEC should moderate its use of disgorgement for three reasons: because of a trend of suspicion toward strong government enforcement power by the Supreme Court, because it has been improperly used punitively, and because the rise of other statutory schemes has displaced disgorgement’s original justification. At the same time, disgorgement should be saved because of the uncertain future of administrative disgorgement proceedings, the intuitive notion of recovering money from wrongdoers, and the much-needed ability to compensate victims. To save disgorgement, the SEC should limit its use only to restoring the status quo of injured investors, thereby ensuring a remedial—not penal—purpose

Solid Propulsion Integrity Program (SPIP) for verifiable enhanced solid rocket motor reliability

To increase the success rate of U.S. built Rocket Motors (SRM), the approach taken is: (1) set common reliability goals for nozzles, cases, bondline, propellant, and insulation; (2) build a common engineering data base to support standard industry-wide reliability assessment models; (3) structure or enhance existing industry/government/user term to develop the tools, methods needed, and the data to support them; and (4) areas where unreliabilities are found must be improved

The Stories Behind the Story (Foreword and Introduction to Introducing Evangelical Ecotheology: Foundations in Scripture, Theology, History, and Praxis)

Excerpt: Nathan and I (Dan) pulled into the Mbanhela community in the Gaza province of Mozambique and were greeted by the high-spirited singing of six women who form the livestock association of that small community. A Christian relief and development organization, of which Nathan is the country director, provided funds for a large chicken coop, feed, supplies, and 300 chickens for the Mbanhela community. In addition, it furnished training in basic animal husbandry and marketing. Every two months the community starts a new cycle with 320 chicks. Raising chickens for income empowers that community and helps it toward health and sustainability. But the goal of raising livestock is not just for community development. The Mbanhela community decided that God had called them to provide a home for twenty-nine orphans and other vulnerable children. (One woman, Pastor Ramira, said to us matter-of-factly, “God tells us to care for the orphans and widows, and so we do.”) Profits from the sale of the chickens help those children attend school and buy books and school supplies

Comparison of Feed in Tariff, Quota and Auction Mechanisms to Support Wind Power Development

A comparison of policy instruments employed to support onshore wind projects suggests that in terms of capacity installed, policies adopted in Germany have been more effective than those adopted in the UK. Price comparisons have frequently neglected differences in resource base: once accounted for we find the cost of policies to be similar. A developer survey identifies planning constraints as only one reason why installed capacity is greater in Germany, and indicates that price support is also important. Information provided by developers also suggests that although the tendering process adopted in the UK is highly competitive in terms of price paid for energy delivered, competition in other areas of the market is significantly lower than in Germany.Wind Generation, Renewable Energy, Subsidy, Policy

A note on log-convexity of q-Catalan numbers

The q-Catalan numbers studied by Carlitz and Riordan are polynomials in q with nonnegative coefficients. They evaluate, at q=1, to the Catalan numbers: 1, 1, 2, 5, 14,..., a log-convex sequence. We use a combinatorial interpretation of these polynomials to prove a q-log-convexity result. The sequence of q-Catalan numbers is not q-log-convex in the narrow sense used by other authors, so our work suggests a more flexible definition of q-log convex be adopted

Biomarkers of Aging: From Primitive Organisms to Man

What biological changes take place as we age? Efforts by scientists to uncover the biomarkers of aging, that is, the normal phenomena of growing old, and to separate these inevitable physiologic changes from diseases and other factors.Warns that alleged "anti-aging" medicines like growth hormone injections are unprovable given current scientific knowledge

Caregiver wellbeing in psychosis services

The study aimed to examine the relationship between wellbeing, burden, distress and third-wave factors, including self-compassion and psychological flexibility, in caregivers of people with psychosis. The study secondly aimed to trial a new brief group intervention, combining Acceptance and Commitment Therapy (ACT) and Compassion-focused Therapy (CFT) for this population. Twenty-nine participants were assessed at baseline on primary measures of wellbeing, distress, psychological flexibility and self-compassion. Secondary factors including burden and mindfulness were also collected. Correlation analyses were used. Fourteen participants completed the group in intervention and follow-up measures, and pre-post investigations were employed. Lower levels of psychological flexibility and self-compassion were related to lower levels of wellbeing and higher levels of burden and distress. There was a potential mediating effect of psychological flexibility on the relationship between self-compassion and wellbeing. The group intervention was acceptable to caregivers, and there were significant positive changes in self-compassion, distress, burden and mindfulness. The study adds to the existing data regarding wellbeing and burden in caregivers of people with psychosis. This study provides new insights into the factors of self-compassion and psychological flexibility within this population. The ACT with Compassion intervention is a promising, brief intervention which would benefit from further application and evaluation

Not Always Black and White: Racial Bias for Birth Disparities from Excluding Hispanic Identification

Despite gains in prenatal care (PNC) usage and birth outcomes for minority women during the past few decades, observed disparities between non-Hispanic Whites, Blacks, and Hispanics persist. Using the National Center for Health Statistics’ (NCHS) natality files from 1981 through 1998, Alexander, Kogan, & Nabukera (2002) examined live births of U.S. residents by trimester in which PNC was initiated and the appropriateness of that care based on the Adequacy of Prenatal Care Utilization Index (APNCU) (Kotelchuck, 1994). They found racial disparities between White and Black women in both the trimester of PNC initiation and the number of PNC visits made. Alexander et al.(2002) noted reductions in racial disparities in PNC; specifically, Blacks were steadily increasing in the number of prenatal visits and in first trimester initiation of PNC. However, a weakness of their study was the exclusivity of racial categories; only White and Black racial groups were analyzed based on the mother’s self reported race. Other racial groups were not included because Hispanic data were not identifiable for some states during part of the study period, and other racial groups lacked sufficient numbers to establish trending in the categories of interest (Alexander et al., 2002). Thus Hispanics identified their race as White and their ethnicity as Hispanic. Alexander et al. counted both non-Hispanic Whites and Hispanics as ‘Whites’ regardless of ethnicity or the availability of ethnicity in their analysis. This created a potential source of bias, as one could speculate that the reported narrowing of racial disparities in the number of PNC visits and earlier initiation of care between Whites and Blacks could be the result of increasing births to Hispanic women included in the ‘White’ birth group. The reported narrowing of disparities could simply be the result of failing to separate Hispanic women in the analysis, a potentially significant portion of the ‘White’ group given their high fertility rates and increased percentage of the total U.S. population. While the expansion of Medicaid-sponsored funding for pregnant women likely contributed to some of the reported increases in earlier PNC initiation and the number of prenatal visits in the late 1980s and early 1990s (Hessol, Vittingoff, & Fuentes-Afflick, 2004; Hueston, Geesey, & Diaz, 2008), it is not clear if this expansion benefited one racial group over another, particularly when Hispanic ethnicity is taken into account. Therefore, the purpose of this study was to evaluate differentials in birth outcomes for singletons by race for Whites, Blacks, and Hispanics beginning in 1979 (the year when Hispanic identifiers became available in the natality files) through 2006. Specifically, we examined trends the trimester that PNC was initiated, the number of PNC visits, and birth weight by race and ethnicity. While previous studies have evaluated pregnancy outcomes based on race, the exclusion of Hispanic identifiers in the analysis (Alexander, Kogan, Himes, Mor, & Goldenberg, 1999; Alexander et al., 2002; Alexander, Wingate, Bader, & Kogan, 2008; Cox, Zhang, & Zotti, 2009; Hunsley, Levkoff, Alexander, & Tompkins, 1991) potentially introduced a bias in results reported. We estimated racial disparities between Blacks and Whites with and without Hispanic identification. Hence, we quantified the bias created due to Hispanics being identified as Whites. Although Gavin et al. (Gavin, Adams, Hartmann, Benedict, & Chireau, 2004) attempted to address this gap by including Hispanics in their analysis, only pregnancy-related care among Medicaid recipients in four states (Florida, Georgia, New Jersey, and Texas) was examined, therefore omitting a significant portion of the childbearing population. In this current study, the addition of Hispanics as a separate racial group and the extension of analysis back to 1979 through 2006 provide an additional decade of observations over previous reports. Hence this analysis is unique and more comprehensive than previous reports

Protective telescoping shield for solar concentrator

An apparatus is described for use with a solar concentrator such as a parabolic dish which concentrates sunlight onto a small opening of a solar receiver, for protecting the receiver in the event of a system failure that could cause concentrated sunlight to damage the receiver. The protective apparatus includes a structure which can be moved to a stowed position where it does not block sunlight, to a deployed position. In this position, the structure forms a tube which substantially completely surrounds an axis connecting the receiver opening to the center of the concentrator at locations between the receiver and the concentrator