Recent developments in the credit card market and the financial obligations ratio

Credit cards ; Households - Economic aspects

Recent changes to a measure of U.S. household debt service

Changes in levels of aggregate household debt in the United States may contain information about the current state of the nation's economy and may affect its future direction. A commonly used measure of household indebtedness is the household debt service ratio (formerly known as the household debt service burden), published since 1980 by the Board of Governors of the Federal Reserve System. Recent changes in financial markets have prompted a comprehensive revision of this statistic. This article describes the revision and introduces a new measure, the financial obligations ratio, which adds recurring obligations -- rent, auto leases, homeowners' insurance, and property taxes -- to the traditional calculation of the debt service ratio. In total, these revisions change the level of the debt service ratio but do not substantively alter its trajectory over time. The article also presents separate estimates of the financial obligations ratio for homeowners and renters. The ratio for homeowners, which may summarize the effects of the recent refinancing boom on the financial obligations of homeowners, has risen gradually over the past decade; the ratio for renters has risen more steeply. The flat contour of the homeowner ratio in recent quarters suggests that homeowners may have rebalanced their portfolios toward lower-cost mortgage debt during the recent period of economic weakness.Households ; Debt

Funding the Extraordinary: An Evaluation of The Kresge Foundation Arts and Culture Program's Institutional Capitalization Grantmaking

In undertaking an assessment of Kresge's Capitalization Program, NFF applied its own high-level framework to help answer Kresge's primary research questions and assess the progress of each grantee in meeting its stated capital targets. NFF has found that effective capitalization in the nonprofit sector requires attention to three key financial priorities: liquidity, adaptability and durability:1. Liquidity: Does the organization have adequate cash to meet its operating needs?2. Adaptability: Does the organization have flexible funds that allow it to make adjustments as circumstances change?3. Durability: Does the organization have sufficient resources to address the range of needs that it may face in future years?NFF's review of Kresge's grantees sought to assess capitalization by looking for evidence of organizational progress in building liquid funds for immediate operating needs, as well as longer-term balance sheet savings for adaptability and durability. NFF's evaluation of grantees involved a combination of data analysis and interviews

On the Domination Chain of m by n Chess Graphs

A survey of the six domination chain parameters for both square and rectangular chess boards are discussed

Medieval and Renaissance Collection Development Policy

The Medieval and Renaissance Studies collections support the teaching, research, and service activities of the entire university community. The primary audience is the faculty and students in the College of Arts & Sciences, the Hixson-Lied College of Fine and Performing Arts, and the College of Architecture. The primary focus of the collections is support for the undergraduate and graduate curricula for Medieval and Renaissance Studies. Research needs of faculty and students are supplemented through Interlibrary Loan. Although the collection also benefits other citizens of the state of Nebraska, materials are not purchased with them in mind. Because of the multi-disciplinary nature of Medieval and Renaissance Studies, the collections may be classified in most of the Library of Congress call numbers in the social sciences, arts, and humanities, and to a lesser extent, the sciences and technology

Synchronous response modelling and control of an annular momentum control device

Research on the synchronous response modelling and control of an advanced Annular Momentun Control Device (AMCD) used to control the attitude of a spacecraft is described. For the flexible rotor AMCD, two sources of synchronous vibrations were identified. One source, which corresponds to the mass unbalance problem of rigid rotors suspended in conventional bearings, is caused by measurement errors of the rotor center of mass position. The other sources of synchronous vibrations is misalignment between the hub and flywheel masses of the AMCD. Four different control algorithms were examined. These were lead-lag compensators that mimic conventional bearing dynamics, tracking notch filters used in the feedback loop, tracking differential-notch filters, and model-based compensators. The tracking differential-notch filters were shown to have a number of advantages over more conventional approaches for both rigid-body rotor applications and flexible rotor applications such as the AMCD. Hardware implementation schemes for the tracking differential-notch filter were investigated. A simple design was developed that can be implemented with analog multipliers and low bandwidth, digital hardware

Advanced actuators for the control of large space structures

The objective of this research was to develop advanced six-degree-of-freedom actuators employing magnetic suspensions suitable for the control of structural vibrations in large space structures. The advanced actuators consist of a magnetically suspended mass that has three-degrees-of-freedom in both translation and rotation. The most promising of these actuators featured a rotating suspended mass providing structural control torques in a manner similar to a control moment gyro (CMG). These actuators employ large-angle-magnetic suspensions that allow gimballing of the suspended mass without mechanical gimbals. Design definitions and sizing algorithms for these CMG type as well as angular reaction mass actuators based on multi-degree-of-freedom magnetic suspensions were developed. The performance of these actuators was analytically compared with conventional reaction mass actuators for a simple space structure model

‘‘Is the socially responsible corporation a myth? The good, the bad, and the ugly of corporate social responsibility’’ by Timothy M. Devinney in Academy of Management Perspectives, May 2009

The following review provides a summary of and comment on Timothy M. Devinney’s article entitled ‘‘Is the Socially Responsible Corporation a Myth? The Good, the Bad, and the Ugly of Corporate Social Responsibility.’’ I argue that Devinney provides a convincing explanation for the failure of corporate social responsibility (CSR) in current predatory, oligopolistic business practices. His exposition provides an initial and necessary first step towards addressing the inequitable systems of organization that contribute to our social and environmental problems