Benefits and Costs of vertical Separation in Network Industries. The Case of Railway Transport in the European Environment

The article is devoted to a phenomenon called vertical separation in the area of network industries. Vertical separation is understood as de-merging of infrastructure and delegating control over it to independent manager banned from operating on downstream markets which are subject to liberalisation. Arguments for and against these tendencies have been examined using the example of the European railway transport. The complete analysis presents vertical separation as a promising solution for the railway industry. One of the conditions for the success of this reform is forming of a close cooperative relationship, based on loyalty and trust, between the infrastructure manager and its clients – rail operators. Building such a relationship should be supported by the implemented regulatory policy.network industries, public utilities, railway transport, economic regulation, liberalisation, vertical separation

When competitive tendering seems to risky. Evidence from regional railways in Poland

This paper analyses the emergence of region-owned local operators to counteract opportunistic behaviour of the incumbent on the market of regional rail services after competitive tendering failed in Poland. Six local operators have been set up so far, their combined market share is significant (54% in passengers, 44.5% in passenger-km) and growing. The prior flawed liberalisation of regional rail market in Poland resulted in substantial barriers to entry for external competitors and strong incentives for incumbent’s opportunistic behaviour toward regional authorities. Main reasons for regional authorities to vertically integrate are lowering transaction costs of providing rail public services and eliminating incumbent’s market power.Institute of Transport and Logistics Studies. Faculty of Economics and Business. The University of Sydne

Benefits and Costs of vertical Separation in Network Industries. The Case of Railway Transport in the European Environment

The article is devoted to a phenomenon called vertical separation in the area of network industries. Vertical separation is understood as de-merging of infrastructure and delegating control over it to independent manager banned from operating on downstream markets which are subject to liberalisation. Arguments for and against these tendencies have been examined using the example of the European railway transport. The complete analysis presents vertical separation as a promising solution for the railway industry. One of the conditions for the success of this reform is forming of a close cooperative relationship, based on loyalty and trust, between the infrastructure manager and its clients – rail operators. Building such a relationship should be supported by the implemented regulatory policy

Benefits and Costs of vertical Separation in Network Industries. The Case of Railway Transport in the European Environment

The article is devoted to a phenomenon called vertical separation in the area of network industries. Vertical separation is understood as de-merging of infrastructure and delegating control over it to independent manager banned from operating on downstream markets which are subject to liberalisation. Arguments for and against these tendencies have been examined using the example of the European railway transport. The complete analysis presents vertical separation as a promising solution for the railway industry. One of the conditions for the success of this reform is forming of a close cooperative relationship, based on loyalty and trust, between the infrastructure manager and its clients – rail operators. Building such a relationship should be supported by the implemented regulatory policy

The Effectiveness of EC Policies to Move Freight from Road to Rail: Evidence from CEE Grain Markets

The European Commission years ago adopted a policy of encouraging the substitution of motor carrier haulage of freight with rail and water carrier haulage, as part of its “green” agenda of reducing fuel consumption, emission of pollutants, carbon intensity, and road congestion. Regarding railway freight in particular, one policy tool that the Commission has emphasized for this purpose is the restructuring of the rail sectors of member countries through the creation of competition for the incumbents by new train-operating companies (TOC’s) – on its face a less obvious policy choice than alternatives such as Pigouvian pricing measures or infrastructure subsidies. This paper focuses on one important commodity group – grain – in three EC member states and one non-member state – Poland, the Czech Republic, Slovakia, and Ukraine – to examine the degree to which increased rail competition has been associated with increases in rail’s modal share, and more broadly to learn what appear to be the binding constraints to increases in rail’s share. Such constraints seem more closely related to shortages in infrastructure capacity than to a lack of competition among TOC’s. This suggests that other “models” of railway restructuring may be more effective in easing this constraint

A dyad of lymphoblastic lysosomal cysteine proteases degrades the antileukemic drug L-asparaginase

l-Asparaginase is a key therapeutic agent for treatment of childhood acute lymphoblastic leukemia (ALL). There is wide individual variation in pharmacokinetics, and little is known about its metabolism. The mechanisms of therapeutic failure with l-asparaginase remain speculative. Here, we now report that 2 lysosomal cysteine proteases present in lymphoblasts are able to degrade l-asparaginase. Cathepsin B (CTSB), which is produced constitutively by normal and leukemic cells, degraded asparaginase produced by Escherichia coli (ASNase) and Erwinia chrysanthemi. Asparaginyl endopeptidase (AEP), which is overexpressed predominantly in high-risk subsets of ALL, specifically degraded ASNase. AEP thereby destroys ASNase activity and may also potentiate antigen processing, leading to allergic reactions. Using AEP-mediated cleavage sequences, we modeled the effects of the protease on ASNase and created a number of recombinant ASNase products. The N24 residue on the flexible active loop was identified as the primary AEP cleavage site. Sole modification at this site rendered ASNase resistant to AEP cleavage and suggested a key role for the flexible active loop in determining ASNase activity. We therefore propose what we believe to be a novel mechanism of drug resistance to ASNase. Our results may help to identify alternative therapeutic strategies with the potential of further improving outcome in childhood ALL

Early and Long-Term Results of Unprotected Left Main Coronary Artery Stenting The LE MANS (Left Main Coronary Artery Stenting) Registry

ObjectivesThe aim of the study was to evaluate early and late outcomes after percutaneous coronary intervention (PCI) of unprotected left main coronary artery disease (ULMCA) and to compare bare-metal stent (BMS) and drug-eluting stent (DES) subgroups.BackgroundPCI is an increasingly utilized method of revascularization in patients with ULMCA.MethodsThis multicenter prospective registry included 252 patients after ULMCA stenting enrolled between March 1997 and February 2008. Non–ST-segment elevation acute coronary syndrome was diagnosed in 58% of patients; ST-segment elevation myocardial infarction cases were excluded. Drug-eluting stents were implanted in 36.2% of patients.ResultsMajor adverse cardiovascular and cerebral events (MACCE) occurred in 12 (4.8%) patients during the 30-day period, which included 4 (1.5%) deaths. After 12 months there were 17 (12.1%) angiographically confirmed cases of restenosis. During long-term follow-up (1 to 11 years, mean 3.8 years) there were 64 (25.4%) MACCE and 35 (13.9%) deaths. The 5- and 10-year survival rates were 78.1% and 68.9%, respectively. Despite differences in demographical and clinical data in favor of BMS patients, unmatched analysis showed a significantly lower MACCE rate in DES patients (25.9% vs. 14.9%, p = 0.039). This difference was strengthened after propensity score matching. The DES lowered both mortality and MACCE for distal ULMCA lesions when compared with BMS. Ejection fraction <50% was the only independent risk factor influencing long-term survival.ConclusionsStenting of ULMCA is feasible and offers good long-term outcome. Implantation of DES for ULMCA decreased the risk of long-term MACCE, and particularly improved survival in patients with distal ULMCA disease