Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II

This paper analyzes the potential competitive effects of the proposed bifurcated application of Basel II capital regulations in the United States on bank credit card lending activities. For this purpose, the authors consider the Basel II regulations as stated in the June 2004 Basel Committee Framework Agreement. ; Also issued as Payment Cards Center Discussion Paper No. 05-21 ; Superseded by Working Paper 07-09Basel capital accord ; Credit cards

Implications of Growing Biofuels Demands on Northeast Livestock Feed Costs

The relationship between complete-feed prices and commodity feedstock prices are estimated to analyze the effect of higher commodity prices on feed costs, with particular attention towards the price effects and substitutability of corn distillers dried grains with solubles (DDGS). Assuming the historical positive correlation between corn and DDGS prices, each $1/ton increase in the price of corn increases per ton feed costs between$0.45 and $0.67 across livestock sectors. A negative price correlation would offset some of the cost increases, but under most scenarios feed costs are expected to be at or above those experienced in 2007.Agricultural Finance,

Wigner Functions for Arbitrary Quantum Systems

The possibility of constructing a complete, continuous Wigner function for any quantum system has been a subject of investigation for over 50 years. A key system that has served to illustrate the difficulties of this problem has been an ensemble of spins. Here we present a general and consistent framework for constructing Wigner functions exploiting the underlying symmetries in the physical system at hand. The Wigner function can be used to fully describe any quantum system of arbitrary dimension or ensemble size.Comment: 5 pages, 3 figure

PRODUCER ACCEPTANCE OF A NEW PEANUT MARKETING COOPERATIVE: A SURVEY OF GEORGIA PEANUT PRODUCERS

Market conduct has become an important issue for peanut farmers. Consolidation in the first buyer market, increased imports, and political uncertainty have increased peanut producers' marketing risks. The purpose of this paper was to examine demographic differences in peanut producers' perceptions of the current marketing environment as well as their attitudes towards new marketing institutions. A standard t-test revealed that producers growing more than 250 acres of peanuts, irrigating at least 50 percent of their peanuts, and producers located in Southwest Georgia were statistically more dissatisfied with the current marketing environment and significantly more receptive to forming a new generation peanut cooperative.Agribusiness, Crop Production/Industries,

A NEW GENERATION PEANUT COOPERATIVE IN GEORGIA: A BENEFIT-COST ANALYSIS

A survey of Georgia peanut producers revealed that the Southwest corner of Georgia could be targeted for a new generation peanut cooperative (FS 01-07). The objective of this study was to examine the feasibility of this option. Preliminary results revealed that this might be an economically feasible solution to peanut producers' marketing problems. The projected discounted benefit-cost ratios ranged from 1.9 to 1.4 over a ten-year period.Agribusiness, Crop Production/Industries,

The Morphological Effects of Two Antimicrobial Peptides, Hecate-1 and Melittin, on Escherichia Coli

The effects of the 26 amino acid, cationic, amphipathic, antibacterial peptide melittin and hecate-1, a 23 amino acid analog of it, on the gram negative bacterium Escherichia coli were investigated using scanning electron microscopy (SEM), transmission electron micros-copy (TEM), and freeze-fracture. Both peptides killed virtually all bacteria at the peptide concentration and cell density used. TEM and SEM revealed aggregates of bacteria entangled with material extruded from the bacterial surfaces. SEM revealed irregular bacterial surfaces with bleb-like projections. TEM and freeze-fracture indicate that the bacterial inner and outer membranes, as well as the peptidoglycan layer between, were extensively damaged. The cytoplasmic contents of the cells, however, did not appear radically disturbed, providing little evidence for osmotically induced cytolysis

The Development of Sleep-Wake Rhythms and the Search for Elemental Circuits in the Infant Brain

Despite the predominance of sleep in early infancy, developmental science has yet to play a major role in shaping concepts and theories about sleep and its associated ultradian and circadian rhythms. Here we argue that developmental analyses help us to elucidate the relative contributions of the brainstem and forebrain to sleep-wake control and to dissect the neural components of sleep-wake rhythms. Developmental analysis also makes it clear that sleep-wake processes in infants are the foundation for those of adults. For example, the infant brainstem alone contains a fundamental sleep-wake circuit that is sufficient to produce transitions among wakefulness, quiet sleep, and active sleep. In addition, consistent with the requirements of a flip-flop model of sleep-wake processes, this brainstem circuit supports rapid transitions between states. Later in development, strengthening bidirectional interactions between the brainstem and forebrain contribute to the consolidation of sleep and wake bouts, the elaboration of sleep homeostatic processes, and the emergence of diurnal or nocturnal circadian rhythms. The developmental perspective promoted here critically constrains theories of sleep-wake control and provides a needed framework for the creation of fully realized computational models. Finally, with a better understanding of how this system is constructed developmentally, we will gain insight into the processes that govern its disintegration due to aging and disease

Flight-Deck Interval Management in Near-Term Arrival Operations

A simulation investigated NASA Air Traffic Management Technology Demonstration 1 (ATD-1) procedures and prototype technologies, including the Traffic Management Advisor for Terminal Metering, Controller-Managed Spacing tools, and Flight Deck Interval Management (FIM) equipment. The ATD-1 procedures and technologies comprise an integrated solution for managing high-density arrivals that NASA is developing and transferring to government and industry stakeholders for NextGen. During each of eighteen simulation trials, experienced controllers managed approximately two hundred departures and over-flights together with seventy-five arrivals to Phoenix Sky Harbor International Airport in a realistic near-term environment. Eight of the arrivals were desktop-based flight simulators flown by airline pilots, which were equipped with prototype FIM equipment in two-thirds of the trials. The simulation provided system-level measures of performance of the ATD-1 integrated arrival solution, demonstrating high conformance with Performance-Based Navigation procedures and a low rate of FIM interruptions. FIM operations provided benefits under specific conditions when FIM aircraft flew connected routes to the runway. This paper focuses on the integration of FIM with the ATD-1 ground-based technologies, discusses outstanding issues, and describes avenues for further research