The risk of climate ruin

How large a risk is society prepared to run with the climate system? This is a question of the utmost difficulty and it admits a variety of perspectives. In this paper we draw an analogy with the management and regulation of insurance companies, which are required to hold capital against the risk of their own financial ruin. Accordingly, we suggest that discussions about how much to reduce global emissions of greenhouse gases could be framed in terms of managing the risk of ‘climate ruin’. This shifts the focus towards deciding upon an acceptable risk of the very worst-case scenario, and away from how “avoiding dangerous anthropogenic interference with the climate system” has come to be framed politically. Moreover it leads to the conclusion that, in terms of greenhouse gas emissions today and in the future, the world is running a higher risk with the climate system than insurance companies run with their own solvency

Numerical methods for ground simulation of satellite motion

Environmental models applicable for purposes of mission analysis were developed, documented, and recommended. The findings are described

An evolutionary stage model of outsourcing and competence destruction : a Triad comparison of the consumer electronics industry

Outsourcing has gained much prominence in managerial practice and academic discussions in the last two decades or so. Yet, we still do not understand the full implications of outsourcing strategy for corporate performance. Traditionally outsourcing across borders is explained as a cost-cutting exercise, but more recently the core competency argument states that outsourcing also leads to an increased focus, thereby improving effectiveness. However, no general explanation has so far been provided for how outsourcing could lead to deterioration in a firm‟s competence base. We longitudinally analyze three cases of major consumer electronics manufacturers, Emerson Radio from the U.S., Japan‟s Sony and Philips from the Netherlands to understand the dynamic process related to their sourcing strategies. We develop an evolutionary stage model that relates outsourcing to competence development inside the firm and shows that a vicious cycle may emerge. Thus it is appropriate to look not only at how outsourcing is influenced by an organization‟s current set of competences, but also how it alters that set over time. The four stages of the model are offshore sourcing, phasing out, increasing dependence on foreign suppliers, and finally industry exit or outsourcing reduction. The evolutionary stage model helps managers understand for which activities and under which conditions outsourcing across borders is not a viable option. Results suggest that each of these firms had faced a loss of manufacturing competitiveness in its home country, to which it responded by offshoring and then outsourcing production. When a loss of competences occurred, some outsourcing decisions were reversed

CEO Compensation

This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a competitive market for managerial talent. We describe and discuss the empirical evidence on the evolution of CEO pay and on the relationship between pay and firm performance since the 1930s. Our review suggests that both managerial power and competitive market forces are important determinants of CEO pay, but that neither approach is fully consistent with the available evidence. We briefly discuss promising directions for future research

Photometry and membership for low mass stars in the young open cluster NGC 2516

We present the results of a 0.86 square degree CCD photometric survey of the open cluster NGC 2516, which has an age of about 150 Myr and may have a much lower metallicity than the similarly-aged Pleiades. We select a preliminary catalogue of 1254 low mass (between 0.2 and 2.0M_{sun}) cluster candidates, of which about 70--80 percent are expected to be genuine. The mass function is metallicity dependent, but consistent with a Salpeter-like law (dN/dlog M ~ M^{-alpha}, alpha=+1.47+/-0.11 or alpha=+1.67+/-0.11 for solar and half-solar metallicities) between 0.7 and 3.0M_{sun}. At lower masses (between 0.3 and 0.7M_{sun}) there is a sharp fall in the mass function, with alpha=-0.75+/-0.20 (solar metallicity) or alpha=-0.49+/-0.13 (half-solar metallicity), which seems inconsistent with the much flatter mass functions seen in the Pleiades and field populations. We explain this by demonstrating that mass segregation has been at work in NGC 2516 -- more than half the cluster low mass stars are expected to lie outside out survey. The mass of NGC 2516 stars with mass greater than 0.3M_{sun} inside our survey is 950-1200M_{sun}, depending on metallicity and what corrections are applied for unresolved binarity. Correcting for mass segregation increases this to ~1240-1560M_{sun}, about twice the total mass of the Pleiades.Comment: 27 pages, accepted for Astronomy & Astrophysic

Surficial geologic materials of the Des Moines Lobe of Iowa, Phase 7: Osceola County

https://ir.uiowa.edu/igs_ofm/1039/thumbnail.jp

Surficial geologic materials of the Des Moines Lobe of Iowa, Phase 7: Clay County, Iowa

https://ir.uiowa.edu/igs_ofm/1038/thumbnail.jp