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The purpose of this paper is to summarize and provide excerpts from a two‐day roundtable on securities lending and short selling hosted by the Securities and Exchange Commission (SEC) on September 29‐30, 2009.

The paper provides summaries and participants' comments from two days of SEC commissioner's questions and panel discussions. Day one – securities lending: Panel 1 – overview of securities lending; Panel 2 – securities lending and investor protection concerns; Panel 3 – improving securities lending for the benefit of investors; Panel 4: the future of securities lending and potential regulatory solutions. Day two – short selling: Panel 1 – controls on “naked” short selling; Panel 2: making short sale disclosure more meaningful.

Many pension and mutual funds view securities lending as an investment activity. Securities lenders see cash collateral as an important risk. FINRA and the SEC have considered the need for increased transparency and the possible benefits of a central counterparty for securities lending. The securities lending market is highly regulated, including through requirements imposed by Regulation T, 15c3‐3, 15c3‐1, Regulation SHO, and ERISA guidelines. The SEC has considered “hard locate” and “pre‐borrow” requirements for short sales, which some market participants believe would be uneconomical. An estimated 50 percent of fails are from ETFs. The SEC has considered enhanced disclosure requirements for short sales, both anonymous and public, their possible effects on fraud prevention and market efficiency, and any harm they could do to market makers.

The paper provides a discussion by regulators and industry experts on the most important current regulatory issues related to securities lending and short selling.

This remembrance discusses the intellectual climate and circumstances under which David Maines came to the Metro Detroit area in the early 1990s. It discusses his impact on graduate students at Wayne State University and how he met the historian Linda Benson whom he would marry. It chronicles his arrival to the Department of Sociology and Anthropology at Oakland University in Rochester, Michigan in 1997, which provided him a well-deserved academic home after his long 25-year journey in academia. Maines was tenured there in 1998, promoted to full professor in 1999 and chaired the department from 2000–2006.

Short breaks are one important segment of the overall tourism market. They provide a distinct market sector with, it appears, special competitive strategies. While the growth and value of this market sector is undisputed, little attention has been paid to the strategic nature of short break provision, or the potential of movement in strategic space. Using data gathered from personal interviews and applying the concept of strategic group clusters and strategic space, explores strategy and performance differences of companies operating in the UK short break market. Examines correlation between structural variables of market scope, company size; and sources of competitive advantage in relation to prime strategies adopted. Draws conclusions with regard to shifts in strategic space for performance enhancement, and potential future market developments.

Stories are powerful teaching tools because of their potential to stimulate the imagination of students and engage them with the material. The short story gives meaning to abstract concepts, aids memory, makes learning fun, and is time efficient. This article explains the approach to teaching information literacy through the use of short stories, including how to create vivid connections to the Association of College and Research Libraries’ Information Literacy Competency Standards for Higher Education. Provides course instructors with examples of how the short story can be used as a platform to discuss information literacy standards.

Adam Smith was wrong: the new economics foundation is right: economic prosperity does not of itself bring enhanced individual and social well‐being. Indeed, it carries a significant downside. But implementing the nef manifesto would be no easy matter. In this short commentary, David McDaid outlines some of the hurdles and pitfalls that would have to be negotiated.

The purpose of the paper is to present a case example of the power struggles and gender issues one daughter faced when she became a partner, and future successor, in the family business. This paper uses an ethnographic approach in order to study a small family farm in England. The case focuses on a small family farm, these businesses are unique in terms of their values and expectations for succession (Haberman and Danes, 2007), and identified by Wang (2010) as a fruitful avenue for research on daughter succession.

The empirical work was gathered through the use of a single site ethnographic case study involving participant observation as the researcher worked on the family farm and semi-structured interviews with family members over two years.

The results shed light on some of the social complexities of small family farms and power struggles within the family exacerbated by perceived gender issues. The work also highlights the potential threat to the daughter’s position as a partner, from her father’s favouritism of male employees.

Institutions that provide help to family farm businesses need to be aware of the potential power issues within the family specifically related to gender, particularly in terms of succession planning.

Using ethnography in family firms allows the researcher to be a part of the real-life world of family farmers, providing rich data to explore daughter succession.

This paper presents a model of long distance telephone demand based on route‐specific short‐haul (intraLATA) calling minutes. The data used in the estimation comes from 2,813 intraLATA long‐distance routes in the state of Florida for 1990. Route‐specific information (mileage, minutes of use, access lines, prices, route‐specific optional calling plans) is matched to socio‐economic data (income, average household size, race, education) obtained in the 1990 census. The results reveal a number of important economic and demographic insights on route‐specific long distance calling. Estimated price and income elasticities of demand are −0.54 and 1.24, respectively.

The purpose of this paper is to explore if hedge fund variables (HFVs) are associated with long-run compounded raw returns (CRRs) for seasoned equity offering (SEO) firms for a six-year window around the offering month for firms undergoing SEOs.

The event study methodology is used to calculate long-run CRRs that are used in a regression model as dependent variables. Independent variables include HFVs and nonhedge fund variables (NFVs) with standard errors clustered at the month level.

Three new long-run findings, consistent with recent short-run findings, are offered. First, HFVs are significantly associated with long-run CRRs for SEO firms. Second, HFVs perform competitively compared to NFVs. Third, a potential omitted-variable bias results if HFVs are not used.

This research assumes that hedge fund managers can identify good (poor) performing SEO firm that allow for profitable long (short) positions. The proportion of hedge funds using a strategy will change in the hypothesized manner needed to make profit.

Hedge fund managers can use long-run strategies to capitalize on price movements around significant corporate events.

Larger institutional traders have investment advantages due to superior knowledge and greater ability to manipulate prices.

This research is the first study to detail the significant association between hedge fund stratagems and long-run stock returns for firms undergoing key corporate events. This study demonstrates the need to consider hedge fund strategies when trying to understand stock price movements.

The late Harry Weslake, the founder of Weslake Limited was born in Exeter in 1897. Whilst still in his early teens he became fascinated by combustion engine carburettors and registered several pioneering patents covering carburettors jointly with his father (he was too young to register them on his own). By the early 1920's he had founded his own company. His twin diffuser carburettor named the Wex (for Weslake‐Exeter) was being widely used at this time by the motor cycle trials and car racing fraternity at Brooklands and elsewhere. This involvement with racing continued for fifty years. The name Weslake becoming a by‐word in motor racing circles.

Purpose: This chapter proposes narrative allyship across ability as a practice in which nondisabled researchers work with disabled nonresearchers to co-construct a process that centers and acts on the knowledge contained in and expressed by the lived experience of the disabled nonresearchers. This chapter situates narrative allyship across ability in the landscape of other participatory research practices, with a particular focus on oral history as a social justice praxis.

Approach: In order to explore the potential of this practice, the author outlines and reflects on both the methodology of her oral history graduate thesis work, a narrative project with self-advocates with Down syndrome, and includes and analyzes reflections about narrative allyship from a self-advocate with Down syndrome.

Findings: The author proposes three guiding principles for research as narrative allyship across ability, namely that such research further the interests of narrators as the narrators define them, optimize the autonomy of narrators, and tell stories with, instead of about, narrators.

Implications: This chapter suggests the promise of research praxis as a form of allyship: redressing inequality by addressing power, acknowledging expertise in subjugated knowledges, and connecting research practices to desires for social change or political outcomes. The author models methods by which others might include in their research narrative work across ability and demonstrates the particular value of knowledge produced when researchers attend to the lived expertise of those with disabilities. The practice of narrative allyship across ability has the potential to bring a wide range of experiences and modes of expression into the domains of research, history, policy, and culture that would otherwise exclude them.