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There has been a loosening of the regulation governing the market for corporate control in the banking industry. Nearly every state in the U.S. has passed some form of interstate banking legislation that allows out‐of‐state banks to acquire local banks. Previous research has shown that the market reaction to this state legislation is both positive and significant for affected bank stocks. What is not clear from prior research is whether all banks are positively affected by the legislation or just banks that are likely acquisition targets. This study measures the impact on both subsequent buyer and target banks. Results indicate that the reaction is a general effect reflecting positive expectations for the industry. The buyer group sustains a significant five percent increase during the event window and the target group increase is over seven percent. The higher return for the target group may reflect an additional acquisition premium. However, the difference between the two groups is not significant. Tests utilizing market value as a proxy for acquisition attractiveness demonstrate that size does not impact the results.

Outlines the US development of the “too‐big‐to‐fail” (TBTF) doctrine following the collapse of the Continental Illinois Bank, reviews relevant research and explores the impact on the efficiency of the banking system. Uses 1983‐1985 call report data, explains the methodology and presents the results, which analyse economies and diseconomies of scope and scale between different types of loans; and levels of inefficiency for TBTF and non‐TBTF banks. Shows that TBTF banks had the greatest increase in inefficiency following Continental’s failure but reduced this in the following year, as did small banks which did not benefit from complete depository coverage. Confirms that the TBTF doctrine increased stability for all banks, but particularly those covered by the doctrine.

Refers to previous research on the effects of poor external audits on agency costs to shareholders and takes the 1991 disciplinary action by the US Securities and Exchange Commission against Ernst and Young (re the Republic Bank) as an example to examine the effect on its other audit clients and on financial institutions. Uses event study methods to show that there were no statistically abnormal returns for financial institutions or for Ernst and Young’s audit clients; but significant negative returns for firms audited by non‐big six auditors.

The emergence of Barack Obama as the President of the United States is analyzed in the context of theories of racial and ethnic relations. While it is true that social science theory did not predict this event, it is also true that the President's election must be seen in a historical context that has seen only one nonwhite Anglo-Saxon Protestant elected to the highest office in the land. Put differently, the chapter addresses why is it that other white groups have not occupied the highest office in the land? The chapter introduces the concept of “segregated diversity” to capture the crisis of theorizing in race and ethnic relations. Harold Cruse's ideas are utilized to bring some degree of order and understanding of the present issues of America and the realities of segregated diversity.

The following classified, annotated list of titles is intended to provide reference librarians with a current checklist of new reference books, and is designed to supplement the RSR review column, “Recent Reference Books,” by Frances Neel Cheney. “Reference Books in Print” includes all additional books received prior to the inclusion deadline established for this issue. Appearance in this column does not preclude a later review in RSR. Publishers are urged to send a copy of all new reference books directly to RSR as soon as published, for immediate listing in “Reference Books in Print.” Reference books with imprints older than two years will not be included (with the exception of current reprints or older books newly acquired for distribution by another publisher). The column shall also occasionally include library science or other library related publications of other than a reference character.

Purpose – The purpose of this research is to investigate whether and to what extent economic transactions are influenced by social structures, power distributions, and cultural understandings through an analysis of exchange at a scrap metal yard in Chicago.

Methodology/Approach – Between March 2000 and December 2002, 72 interviews were conducted with collectors who bring metal to City Iron. With 16 of these collectors the author had a working relationship, assisting the collector in all aspects of the job. Data were coded and analyzed with the assistance of NVIVO, a qualitative data management program.

Findings – The author finds that market transactions are not impersonal and that moral characterizations matter. In this universally risky business in which some level of in-market cheating is expected, material and moral appraisals become intertwined as participants look to extra-market cues and clues in evaluating with whom to transact and how. While the ascription of ethnicity serves as a proxy for the particularistic judgment of trustworthiness, this sorting is accomplished and legitimated by an ostensibly universal moral discourse. Actors evaluate each other using a moral yardstick, paying as much – if not more – attention to what one believes the other is doing when not working as to when one is.

Originality/Value of paper – By focusing on exchange-in-interaction and articulating how economic transactions are culturally embedded, this research contributes to scholarship in the sociologies of work and economies, and provides a glimpse into an understudied work world.

This study aims to illustrate how white supremacy culture can be produced within nonprofit organizations with a mandate to serve marginalized communities and provide practical suggestions for preventing oppression.

The site of inquiry was a nonprofit organization in south central Texas that provides social support to queer and trans youth. Through critical ethnography, the researchers evaluated the organization's processes and structure (including hierarchy, decision-making, fundraising and interactions between leaders, partners and affected groups) to explore how the organization perpetuated attributes of white supremacy culture.

Data reveal that the organization alienates the youth, volunteers and employees through defensiveness, fear of open conflict, paternalism, perfectionism and power-hoarding.

A dearth of research focuses on how white supremacy culture manifests in organizations serving marginalized communities. This paper addresses this gap by focusing on a nonprofit organization in central Texas that supports queer and trans youth. The authors offer recommendations for addressing white supremacy culture in organizations and suggest future research opportunities.

December 14, 1966 Negligence — Contractor — Faulty equipment supplied by sub‐contractor — Standards for guard rails ordered from reputable sub‐contractors — Sub‐contractors supplied by well known manufacturers — Defective standards supplied — Use of guard rail by building owners' employees for purpose for which not intended — Collapse of guard rail because of defective standard — Injury causing death to independent contractor — Defect in standards not apparent on visual inspection — Whether duty to inspect — Liability of building owners — Liability of contractors and sub‐contractors — Applicability of Building (Safety, Health & Welfare) Regulations, 1948 (S.I. 1948 No. 1145).

Film provides an alternative medium for assessing our interpretations of cultural icons. This selective list looks at the film and video sources for information on and interpretations of the life of Woody Guthrie.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.