A More Realistic Approach to Directors\u27 Duties

Expectations for what fiduciary duties can achieve in the corporate context are unrealistic. This segment of the law—and the alleged deficiencies therein—are blamed for corporate scandals, securities fraud, failed business plans, and even a company\u27s insolvency. Risk is, however, inherent in business, and human beings are flawed. Fiduciary duty law cannot change these basic facts. To the extent we think it can, we will continue to be disappointed and frustrated. This essay considers recasting (and to a greater extent codifying) directors’ duties in a positive frame to help foster better director oversight. It does not suggest that codifying greater clarity into directors’ duties would result in more or less director liability; rather, the primary objective would be to improve director performance outside of the litigation sphere

Assessing the Body Condition of Brook Trout (\u3cem\u3eSalvelinus\u3c/em\u3e \u3cem\u3efontinalis\u3c/em\u3e) in the Loyalsock Creek Watershed

The body condition of an animal is an indicator of their health based on their size and weight. Assessing body condition can be useful for evaluating populations and tracing ecological disturbances. This study assessed the body condition of brook trout in the Loyalsock Creek watershed after Tropical Storm Lee in September 2011. The storm brought heavy rainfall to central Pennsylvania and triggered a catastrophic flood that disrupted the streams and trout populations. Fish populations were surveyed annually at 30 sites in the Loyalsock Creek watershed from 2011 to 2020. Fish were electroshocked, following procedures from the Pennsylvania Fish and Boat Commission, and the weight and lengths were recorded for trout individuals. Body condition was predicted with Fulton’s condition factor and a relative weight equation. The overall body condition of the brook trout populations declined considerably after the flooding event. Brook trout had the lowest body condition in 2013, two years after the flood. Condition improved over the 10-year period, but overall body condition has still remained below the median body condition in 2011. This study revealed how predicting body condition reveals how animal populations respond and recover from ecological disturbances. The brook trout populations in the Loyalsock Creek watershed were strongly impacted by Tropical Storm Lee, and it will take several more years for the populations to recover from this catastrophic flood

The Euro Effect on Trade in the EMU Core and Periphery: a Pre and Post-Crisis Analysis

As the world financial crisis hit Europe in 2008, the financial shock had asymmetric effects across the eurozone; by 2010, its effects led to a sovereign debt crisis in the euro area. The shock created a clear distinction between strong, core economies in the European Monetary Union (EMU), and a struggling indebted periphery that fared worse in the period of crisis. The sovereign debt crisis revealed inherent fragility in the EMU. In light of recent populist movements, the common currency is under unprecedented scrutiny. This study seeks to assess the euro effect on exports for a clearly distinguished EMU core and periphery. Using an econometric analysis, this paper will also determine if the euro effect has changed, with respect to three time periods: pre-crisis, crisis, and post-crisis. Through this, the euro effect on trade can be better understood, as its benefits (in terms of trade increase) will be identified for various groups that may weigh the costs of currency union differently in post-crisis Europe. The results find the euro effect on total exports is about a 9.5-10.9% increase. However, it is found that most of the the euro effect on exports is seen by the core. The euro effect on trade is negatively impacted by the sovereign debt crisis for all EMU groups, but the core was the only group to have a euro effect that remained positive during that period

Health implications of an immigration raid: findings from a Latino community in the midwestern United States.

Immigration raids exemplify the reach of immigration law enforcement into the lives of Latino community members, yet little research characterizes the health effects of these raids. We examined the health implications of an immigration raid that resulted in multiple arrests and deportations and occurred midway through a community survey of a Latino population. We used linear regression following principal axis factoring to examine the influence of raid timing on immigration enforcement stress and self-rated health. We controlled for age, sex, relationship status, years in the county in which the raid occurred, children in the home, and nativity. 325 participants completed the survey before the raid and 151 after. Completing the survey after the raid was associated with higher levels of immigration enforcement stress and lower self-rated health scores. Findings indicate the negative impact of immigration raids on Latino communities. Immigration discussions should include holistic assessments of health.UL1 TR000433 - NCATS NIH HH

My Path in Shamanism

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Dayton Sculptor Earns Place on Walk of Fame

The late Dayton sculptor Robert C. Koepnick, whose life and art were featured in a 2014 exhibit in the University Libraries, will be inducted into the Dayton region\u27s Walk of Fame Sept. 27

Disciplining Corporate Boards and Debtholders Through Targeted Proxy Access

Corporate directors committed to a failed business strategy or unduly influenced by the company’s debtholders need a dissenting voice—they need shareholder nominees on the board. This article examines the bias, conflicts, and external factors that impact board decisions, particularly when a company faces financial distress. It challenges the conventional wisdom that debt disciplines management, and it suggests that, in certain circumstances, the company would benefit from having the shareholders’ perspective more actively represented on the board. To that end, the article proposes a bylaw that would give shareholders the ability to nominate directors upon the occurrence of predefined events. Such targeted proxy access would incentivize boards to manage difficult operational and financial situations more proactively, while creating a reasonable oversight mechanism for shareholders if those efforts fail. The article also discusses ways for shareholders to use general proxy access in distressed situations to strengthen the shareholder perspective in, and add value to, boards’ negotiations with debtholders. Yet failing the utility of traditional, general proxy methodology, the article suggests that targeted proxy access is a more tailored solution that mitigates many of the concerns articulated in the proxy access debate and provides a better balance between management autonomy and accountability

Mitigating Financial Risk for Small Business Entrepreneurs

Financial distress by definition threatens a company’s viability. Entrepreneurial and start-up entities are particularly vulnerable to this threat. Yet, much of the discussion following the recent recession focuses almost exclusively on financial institutions and “too-big-to-fail” entities. This essay re-examines lessons gleaned from the recession in the context of smaller, entrepreneurial entities. Specifically, it analyzes how small business entrepreneurs might invoke principles of enterprise risk management to mitigate the long-term impact of financial distress on their business models. It also considers related refinements to extant small business regulations, including the U.S. bankruptcy laws. The essay’s primary objective is to help policymakers, entrepreneurs and investors rethink financial distress and recognize opportunities for “successful failures