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Several anomalies exist between current valuation theories and the various practices in use in the financial world. Most practitioners are aware that the traditionally…
Several anomalies exist between current valuation theories and the various practices in use in the financial world. Most practitioners are aware that the traditionally used valuation tables are based on the premise that all monies are received/paid in arrear and that interest is converted to the account at the end of the year. It has been argued, for many years, that the adjustments needed to accurately reflect financial practice were too difficult to implement and, in any event, made little difference to the valuation. However, with very large rentals no longer being uncommon and with the existence of the large property portfolios, increased accuracy in the calculation of YPs, etc, and a more flexible approach to properly reflect financial practices is not only possible but desirable. This paper sets out to demonstrate how such accuracy and flexibility can be achieved.
The research in this paper is aimed at re‐engineering existing approaches to the analysis of proposed developments in local authorities – from land pricing to planning…
The research in this paper is aimed at re‐engineering existing approaches to the analysis of proposed developments in local authorities – from land pricing to planning permission – hence reducing the loss of revenue in councils, and nurture property development.
This paper is a case study of seven city councils on the Copperbelt province of Zambia was conducted using the same template of questions.
The research found that councils had overly politicised management structure, static appraisal methods, poor market data capture, analysis and use. Additionally, councils did not use market data on property values; hence the existing analysis and appraisal systems are static and ineffective.
The paper shows that extracting current data from the councils proved a severe limitation.
The paper shows that councils can: learn how overly politicised their interdepartmental communication and data exchange is; enhance paper based systems of appraising proposed developments by adding established methods of project appraisal that can ease the collection, analysis and synthesis of construction business data used in the appraisal process; Employ, and support qualified personnel with adequate resources necessary to perform their duties professionally; make gradual improvements to existing systems within the cultural and political atmosphere of the council; and appraise proposed developments using accepted business approaches; just like private sector consultants do.
The research provides practical solutions that enhance professional appraisal techniques in councils of most underdeveloped countries, hence setting the basis upon which market driven strategies for nurturing property development can be made
The purpose of this paper is to advance the understanding of both directions of work‐family conflict (WFC), work interference with family (WIF) and family interference…
The purpose of this paper is to advance the understanding of both directions of work‐family conflict (WFC), work interference with family (WIF) and family interference with work (FIW) in an Eastern culture. Findings are compared with those of 14 other Western studies and the relationships among WIF, FIW and job, family, community and life satisfaction are explored.
This study is conducted in Malaysia, a country with Islam as the official religion. Data are obtained from 506 employees in three public and three private sector organizations. Questionnaires are distributed via human resource managers.
Results show that similar to Western studies, WIF scores are higher than FIW scores. Malaysians are significantly lower on WIF than Westerners. Nevertheless, Malaysians score significantly higher on FIW than all Western samples. Within the Malaysian sample, FIW also has a stronger negative relationship with all facets of satisfaction and WIF has a positive relationship with family satisfaction.
Cross‐sectional data are presented which could result in common method bias.
Organizations can assist in minimizing WIF and FIW by providing family‐friendly policies and parenting related programmes. The importance of family in an individual's life in Eastern cultures is different than in Western cultures. Therefore multi‐national companies operating in Eastern settings would be well‐advised to take cultural aspects such as collectivism into consideration.
The study provides insights into Eastern experiences of WIF and FIW compared with Western experiences. The study expands previous studies by measuring both directions of WFC and employing a heterogeneous sample (e.g. not just female, those married, those with children).
Twenty‐three years ago the most frequently met among many slogans was “ Food Will Win the War.” To‐day our food problems are fully as important to our defence; but they present many new aspects. Then our prime duty was to save food : now it is to consume food in the way most conducive to fitness. Our knowledge of nutrition has advanced so rapidly that much of it is too new to have been assimilated into our everyday thought and practice. Yet it is precisely as guidance to everyday use of our familiar foods that the newest knowledge of nutrition can be of most benefit: of benefit both to the one‐third of our people who are officially declared “ ill‐nourished,” and to the great majority of the rest of us as well. For while finding that much of our previously baffling disease and frustration is due to shortage of certain nutritional factors in the food supply, research has also shown that a more scientifically guided use of our everyday foods constitutes a sort of superior chemical engineering of our own mechanisms which can increase the vitality and efficiency even of those people who are already healthy and efficient. The relations of nutrition to the functioning of the mind are, of course, more difficult of controlled investigation and not yet as objectively demonstrable as to the effects of food upon bodily functions and length of life. But careful research is now showing that even within the range of fully normal conditions, our daily food choices have much more important effects than science ever previously supposed upon that internal chemistry that directly environs and conditions all our life processes. The blood is the great mediator of this internal environment, and the same blood circulates through the brain as through all the other organs of the body, bringing its help or its hindrance to both mental and muscular activities. True there is much which remains to be clarified by further research; but the already established findings, of recent and current nutritional investigation, need only to be more widely known and used in order to make our people much stronger for the defence of our civilisation, and for its permanent advancement when the emergency has passed. In our “ intellectual climate ” of the moment there is still a good deal of inertia because the newest knowledge is not yet sufficiently understood, while at the same time the new view is perhaps being over‐coloured by some writers. This paper therefore does not seek to add more assertions; but rather to review objectively the evidence on what the Council of National Defence has announced as one of our present‐day needs, “ to make the American people nutrition‐conscious in terms of the nutritional science of to‐day.” Nutrition presents three major aspects : (1) that in which food serves as fuel to supply energy for the activities of the bodily machine; (2) that of the assimilation of certain food constituents into structural material first for the growth and later for the upkeep of the body tissues; and (3) the utilisation of food substances either directly or indirectly to serve the body in those self‐regulatory processes by which it maintains its relatively “ steady states ” or essential internal environment. It is in its energy aspect that nutrition has most fully arrived at the status of an exact science. Expert opinion is well agreed on the fundamental principles of the energy transformations in the body, on the values of the foodstuffs as sources of energy, and on at least the broad lines of theory as to the influence of different bodily conditions in determining the energy need. On the latter points, especially, many laboratories are actively engaged in increasing the precision of present knowledge, and at least three well‐endowed nutrition laboratories—those of the Carnegie Institution, of the Russell Sage Institute, and of the Rochester University Department of Vital Economics—are devoting their resources especially to the perfection of the energy aspects of nutritional knowledge. The protein aspect of nutritional research has also reached a relatively mature status with well‐defined objectives. Among many other laboratories working in this field, that of the United States Department of Agriculture is giving special attention to the purification and description of the proteins themselves; and the laboratory of physiological chemistry of the University of Illinois is very actively investigating the nutritional relationships of the individual amino acids, with the generous support of the Rockefeller Foundation. We may look forward with confidence and great gratification to a presumably fairly near future in which this aspect of nutritional need can be stated quantitatively in terms of ten individually indispensable amino acids. The catalysts which make the chemical processes in the body go fast enough to support life overlap and in a measure integrate the subject matter divisions of the chemistry of nutrition. They function in the energy aspect; and in their own chemical constitutions they are derivatives of proteins (or their amino acids), mineral elements, and vitamins. This very active field of research is quite as frequently classified with general biochemistry as with nutrition. Until its current era of “ newer knowledge,” the chemistry of food and nutrition had for several decades faced the dilemma that foods could be analysed as elaborately, and their composition accounted for with as close an approach to one hundred per cent., as other natural materials; and yet nutrition could not be sustained with pure mixtures of the substances that the analyses revealed. Seeking deeper insights, chemists broadened their research methods to include the systematic use of feeding experiments with laboratory animals, carried on with as careful attention to accuracy of controls as in other experimental researches in the exact sciences. This extension of method in chemical research has been rewarded with a rapid series of discoveries of substances which are essential to our nutrition, but whose very existence was, until recent years, either entirely unknown or only vaguely apprehended. Neither in chemical nature nor in nutritional function do these substances have much in common with each other. That they came to be called by the group name vitamins was not the result of their being naturally related, but rather of the two circumstances, (1) that they were all discovered through the use of the same development of research method, and (2) that the discoveries of their existence and importance followed each other too rapidly for physical isolation and chemical identification and nomenclature to keep pace. The latter, however, are steadily catching up, and in several cases new names, which are individually distinctive of either the chemical structures or the historic associations of the substances, have been coined and are coming into general use.
MALTBY, ARTHUR. U.K. catalogue use survey. London: Library Association, 1973. 35 p. Library Association research publication, no. 12. £1.25 (£1 to members). This report on…
MALTBY, ARTHUR. U.K. catalogue use survey. London: Library Association, 1973. 35 p. Library Association research publication, no. 12. £1.25 (£1 to members). This report on the use and non‐use of the catalogue by readers describes the findings of a project carried out largely by the various schools of librarianship in April/May 1971. Two previous pilot studies had been carried out to refine the questionnaire to make it applicable throughout the United Kingdom. Special libraries were reluctantly excluded, but all other types of library were included. The method chosen was that of briefed interviewers and a structured interview, largely because it seemed desirable to catch not only those who use the catalogue, but also those who do not. Of the total of 3,252 interviewed, 1914 (59 per cent) actually used the catalogue; of the 41 per cent who never used the catalogue, the vast majority stated that they could manage without it, while 281 preferred to ask the staff. Probably most of this group went straight to the shelves. From the break‐down by type of library, it would seem that municipal and county libraries hardly need a catalogue at all. There is also the point that if more people had been shown how to use the catalogue, more would use it.
Regulations which have for their object the correct labelling of pre‐packed foodstuffs have been drawn up and issued by the Ministry of Food from time to time as the need for such regulations became evident. Every manufacturer of such foods has without doubt made himself acquainted with these regulations, as well as those whose duty it may become to investigate the nature, substance and quality of any sample of such foodstuffs as may be submitted to him. In spite of this a few general observations may, we think, be of interest to readers. The Ministry of Food was not established primarily either for purposes of historical research or record. Its purposes are more immediate and practical, still the future student of social conditions of these times may in cursorily perusing these regulations and in the assumed absence of other evidence wonder how we managed to survive in health and pocket. However, a “little leaven leaveneth the whole lump.” The misdeeds of the few tend to bring discredit on the many. The regulations have been drawn as much to help the honest manufacturer faced with illegal competition as to discomfort those who by wilful misdescription have endeavoured to raise the practice of adulteration and misdescription of food‐stuffs to the status of a fine art for their own benefit. Conditions created by the war and its after effects are still acutely felt, and are likely to be for a long time to come, in the form of scarcity of many ordinary food‐stuffs and enhanced prices for all. In addition to this, but not exclusively due to the after‐effects of war, increasingly large quantities of pre‐packed and in some cases highly processed foods have been put on the home market. Pre‐packed food is officially described as food made up in advance ready for retail sale in a wrapper or container. The weight or measure must be correct under penalty. Obviously over the counter sales under these conditions demand at least that the legend on the packet label shall be a true statement of its contents. The printing on the labels must also be legible and conspicuous. But, after all, these give little protection to the purchaser, who, by the nature of such a transaction, cannot examine the contents of the packet on the spot. Records of legal action taken under the Food and Drugs Act for the exposure for sale of foods which analytical examination has shown to be of questionable quality are of everyday occurrence, and such foods must in many cases, when sold in packet form, have been misdescribed or incorrectly labelled. These, however, call for no particular notice here. Attention may be recalled to a statement in the main order, No. 1447, 1944, that forbids claims of a general nature as to vitamin or mineral content of a food being made on wrapper, container, or unattached label except for certain vitamins and for calcium, iodine, iron, and phosphorus enumerated in Schedule 1 and 2. No claim shall be made for these either on label or by advertisement unless the amount of these in milligrams per oz. or fluid oz. be stated. It is certain that if many of the articles whose questionable nature has made them the subject of prosecutions under the Food and Drugs Act had been correctly labelled no one in his senses would have thought of buying them. It is, unfortunately, no less certain that a prosecution also suggests successful sale in possibly hundreds of instances. The term food is defined in the main Order as any article used as food or drink for human consumption, and any substance used in the composition or preparation of food, also any flavouring, sweetening matter or condiment, or any colouring matter for use in food. An article shall not be deemed not to be a food by reason only that it is also capable of being used as a medicine. The labelling provisions of the Labelling of Food (No. 2) Order is now amended by an Order, No. 1550 of 1945, so that “sweets,” including British wines and spirituous liquors containing not more than 40 per cent. of proof spirit, are brought within the field of operation of the main Order. In the case of liquors, other than spirits, with a fruit basis, and rhubarb is included in such fruit bases, the nature of these bases must be “appropriately designated” with a specific name in clear block letters not less than one‐eighth inch high with the minimum alcohol content expressed as “per cent. by volume” or “per cent. proof spirit.” This amending Order, in so far as it relates to retail trade, comes into force on April 1st, 1946. It may be added that if a liquor, other than spirits, is not made wholly or in part from fruit, the fact must be stated, together with the alcohol content. The same condition applies in the case of spirits. Unless a liquor, so far as its fruit content goes, is not derived exclusively from grapes, it must not be described as “wine.” If a fruit other than grape has been used the word wine on the label must be preceded by a word, specifying the name of the fruit used, in identical lettering. It is to be hoped that the new regulation briefly referred to above will do something towards clarifying the conditions relating to the sale of alcoholic liquors. The Ministry has stated its willingness to give the trade all possible help in the labelling of alcoholic liquors, of which there now seems to be a very large number of varieties. We may, however, remark that men can no more be made moral by regulations than by Acts of Parliament. It follows, therefore, that when the interests of legitimate trade have been dealt with the misdoings of a residuum will still demand attention. It is likely that as conditions gradually tend to become normal some of the wrong doers may conclude that the game will not present such alluring prospects of immediate gain, but for all that there will still be some who will continue to gamble on the chances of non‐discovery. It seems to us that if people of their own free will choose to place themselves on a level with the common thief they should, if convicted, be treated as such, and that penalties should be not merely a fine, which in many cases they write off as a bad debt, but, as the man in the street has already made a liberal contribution to the finances of these gentlemen, the man in the street would also not be unwilling to give him a holiday free of charge as an acknowledgment of his activities.
The total number of samples which were submitted under the Food and Drugs Act was 2,063. Of these, 5·7 per cent were adulterated or incorrect. Of these, 1,062 were milks, with 7·5 per cent reported against. The percentage was 104 in 1947 but “ it is still high ”. The composition of the milk for the years 1939 and 1945–8 (figures given) was constant “ in spite of the difficulties of obtaining feeding stuffs ” and of good quality. No preservatives were found in the samples examined. The prosecutions were due to fat deficiency or to added water. The offences were not deliberate in all cases.
Argues that, despite increasing interest in teamwork, much of the literature on the subject is inconclusive and often derived from anecdote rather than primary research…
Argues that, despite increasing interest in teamwork, much of the literature on the subject is inconclusive and often derived from anecdote rather than primary research. Seeks to develop an empirically‐based conceptual framework with which to characterize effective teamwork in the hospitality industry. Reviews the literature and empirical research on the subject; then proposes a descriptive systems model of the key characteristics of effective teamwork featuring inputs, throughputs and outputs. Suggests that throughputs may be the greatest determinant of team effectiveness and that this may have implications for the way in which management approaches the development of self‐directed teams in the future.
For the first time since the “limits to growth” debate of the 1970s, we hear serious talk about the prospect of the world running out of oil. In the United States…
For the first time since the “limits to growth” debate of the 1970s, we hear serious talk about the prospect of the world running out of oil. In the United States, concerns about reducing dependence on foreign oil have incited debate over the viability of alternative energy sources versus the oil industry's search for new oil “frontiers.” The rancorous dispute over drilling in the Arctic National Wildlife Refuge (ANWAR) has captured the spotlight in this debate. Less controversial, but more significant for the future of U.S. oil production, are the bountiful “deepwater” reserves of the Gulf of Mexico (GOM). Offshore is central to the history of the petroleum industry over the last 50 years, and the GOM is the most explored, drilled, and developed offshore petroleum province in the world. In recent decades, revenue from offshore leasing has been second only to federal income taxes in value to the U.S. treasury. During the last 30 years, the search for oil and gas has continually moved into deeper waters and into new offshore environments. Still, the GOM remains the primary laboratory for technological innovation and regulatory practices. The recent and spectacular revival in production there thanks to deepwater discoveries has strongly reinforced this demonstration effect. As offshore oil assumes a high profile in national development strategies around the world, any effort to analyze the political, social, and economic aspects of offshore exploration and development must use the GOM as a historical precedent or basis of comparison.