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Employment rates fell dramatically between March and April 2020 as the initial shock of the COVID-19 pandemic reverberated through the US labor market. This paper uses data from the CPS Basic Monthly Files to document that the employment decline was particularly severe for immigrants. Historically, immigrant men are more likely to work than native men. The pandemic-related labor market shock eliminated the immigrant employment advantage. After this initial precipitous drop, however, the employment recovery through June 2021 was much stronger for immigrants, and particularly for undocumented immigrants. The steep drop in immigrant employment at the start of the pandemic occurred partly because immigrants were less likely to work in jobs that could be performed remotely and suffered disproportionate employment losses as only workers with remotable skills were able to continue working from home. The stronger employment recovery of undocumented immigrants, relative to that experienced by natives or legal immigrants, is mostly explained by the fact that undocumented workers were not eligible for the generous unemployment insurance (UI) benefits offered to workers during the pandemic.

The purpose of this paper is to describe the concept of “transformative business sustainability”. “Business sustainability” refers the total effort of a company – including its demand and supply chain network – to reduce the impact on the Earth's life‐ and eco‐systems –, i.e. the total e‐footprint. “Transformative” highlights the need for an open minded, dynamic and flexible approach to “business sustainability” not governed by blinkers.

This paper discusses a conceptual development of transformative business sustainability, derived from a frame of reference. The essence is the introduction of a multi‐layer model of units (i.e. different businesses or other stakeholders), a network of e‐footprint sources and a “recovery pool and redistribution buffer” at the interface.

Transformative business sustainability is both a theoretical and managerial concept. It could also be seen as a roadmap to plan, implement and evaluate business sustainability.

Transformative business sustainability provides opportunities for development. Suggestions for further research are presented.

E‐footprint sources in business, applying an Earth‐to‐Earth approach, are described. The concept of transformative business sustainability contributes by achieving genuine and continuous business sustainability and awareness at strategic, tactical and operative levels of business, avoiding use of buzzwords and window dressing.

Well‐being of the planet Earth has to be at the core of business sustainability. The authors contend that the “recovery pool and redistribution buffer” is crucial in the planning, implementation and evaluation of transformative business sustainability.

There is agreement in the literature that offenders often acquire guns through unregulated private encounters with friends, family members and petty criminals. Although anecdotes suggest that licensed gun dealers also play a role, most studies have ignored or discounted the possibility that dishonest retailers are a significant source of supply. This effort explores gun markets in Los Angeles by examining the redistributive history of firearms seized by police and by reviewing Federal gun trafficking investigations. One finding, that corrupt licensed dealers diverted sizeable quantities of guns to end users and to unlicensed street vendors, suggests that retail sources may serve as a far more important source of firearms for criminals than is commonly supposed.

The purpose of this paper is to understand and inform the development and implementation of a newly established Discovery College (a youth-focused Recovery College). It also aims to contribute to a broader understanding of the benefits and barriers to establishing Recovery Colleges.

The overall study took a mixed-methods approach to the evaluation of Discovery College, including a qualitative process evaluation component as well as a mixed-methods outcomes evaluation. This paper reports on the findings of the process evaluation, which undertook key informant interviews with a range of stakeholders in the implementation process.

A total of 16 themes emerged from the qualitative data, which were then clustered into four main areas: establishing Discovery College, organisational context, nature of Discovery College and service transformation. Implementation was reported as both feasible and effective. Initial tension between fidelity to the model and a pragmatic approach to action was negotiated during implementation and through an ability of staff to tolerate uncertainty, enabled by the efforts and support of senior service management and college staff.

Recovery Colleges co-designed and implemented in youth mental health services are a recent development in the field of mental health care and very little has previously been published regarding the feasibility, effectiveness and acceptability of youth-focused Recovery Colleges. This paper is one of the first to assess the barriers and enablers to the implementation of Discovery College within a clinical youth mental health service.

This paper aims to highlight the need to better understand the determinants of adopting (more) collaborative, integrated approaches in strategic destination management plans and operational business procedures which is to improve destination and business resilience towards the growing frequency, increasing number and accelerating impacts of natural disasters around the world.

The paper reviews literature on the topic of tourism planning, development and management in light of natural disasters.

The paper pinpoints a number of factors that hamper the adoption of a (better) integrated and (more) collaborative framework of disaster and destination management among tourism stakeholders. It further proposes how these factors can at least partially be addressed and highlights the role of scholarly research in this endeavour.

The paper highlights the determinants of adopting more integrated and collaborative approaches to managing natural disasters by individual tourism businesses and entire tourist destinations and proposes how these can be harnessed.

The authors trace the inside story of a ground‐breaking transaction which they pioneered. It enabled Barclays Bank to shed all the credit risk it held as the result of originating unsecured consumer loans in a particular branded portfolio. As such the transaction allowed Barclays to separate the business of origination from the business of managing the balance‐sheet. This achievement has far‐reaching consequences for the world of asset and liability management which the authors outline and discuss.

In late 1999, Congress enacted financial modernisation legislation that dramatically deregulated the financial services industry and expanded the powers of financial institutions in the USA. In keeping with this deregulation and expanded powers, the regulatory landscape and enforcement mechanisms also changed. While many applaud this legislation, others point to previous US experience where financial deregulation overwhelmed federal regulators and resulted in massive failures of financial institutions and, consequently, in huge federal bailouts. The authors examine here the prospect of supplementing regulation with certain forms of private intervention. Specifically, they address the question: is there a role for whistleblowing and bounty hunting as means of supplementing existing regulation in the financial services industry?

Risk-based clearing has been proposed by Rausser et al. (2010) for over-the-counter (OTC) derivatives. This paper aims to illustrate the application of risk-based margins to a case study of the mortgage-backed securities derivative portfolio of the American International Group (AIG) during the period 2005-2008. There exists sufficient publicly available information to examine AIG’s derivative portfolio and how that portfolio would depend on conjectural changes in margin requirements imposed on its OTC derivative positions. Generally, such data on OTC derivative portfolio positions are unavailable in the public domain, and thus, the AIG data provide a unique opportunity for an objective evaluation.

This paper uses modern financial methodology to evaluate risk-based margining and collateralization for the major OTC derivative portfolio of the AIG.

This analysis reveals that a risk-based margin procedure would have led to earlier margin calls of greater magnitude initially than the collateral calls actually faced by AIG Financial Products (AIGFP). The total margin ultimately required by the risk-based procedure, however, is similar in magnitude to the collateral calls faced by AIGFP by August 2008. It is likely that a risk-based clearing procedure applied to AIG’s OTC contracts would have led to the AIG undertaking significant hedging and liquidation of their OTC positions well before the losses built up to the point they had, perhaps avoiding the federal government’s orchestrated restructuring that occurred in September 2008.

There has been no published risk-based evaluations of a major OTC portfolio of derivatives for any company, let alone the AIG.

The past year has ended on a disturbing note. On 2nd December the engineering unions called a 24‐hour strike which benefited nobody and did great harm to the country's industrial output. This affair was followed some days later by the graver threat of a national railway strike which, for the moment at least, has been averted.