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The article focuses on the use of market information in pricing deposit insurance in the U.S. The paper looks particularly at how the stock market's fair value estimate of deposit insurance could be influenced by uninsured depositors and what deposit guarantees would be like if there were no insurance reforms by the Federal Deposit Insurance Corporation (FDIC). The FDIC's ability to close failed banks shows that for uninsured bank deposits are valued at the lower end of the risk premium. The article concludes that the lower bounds of deposit guarantees cannot be observed.

We empirically examine whether a major government intervention in the small firm credit market yields significantly better results in markets that are less financially developed. The government intervention that we investigate is Small Business Administration ( SBA) guaranteed lending. After controlling for the appropriate cross-sectional market characteristics, we find that SBA guaranteed lending has a significantly more positive impact on the average annual level of employment when the local market is relatively less financially developed. This result has important implications for public policy directives concerning where SBA guaranteed lending should be directed. [ABSTRACT FROM AUTHOR]

Information problems in small enterprise credit markets can result in a market equilibrium characterized by credit rationing. These information problems are potentially more severe during sharp economic downturns such as the recent Great Recession. Government interventions to alleviate credit constraints on small firms need to be designed to correct the specific market failure resulting in socially suboptimal credit flows. We argue that Small Business Administration loan guarantees are a potentially appropriate intervention and provide a review of empirical research that supports our contention. [ABSTRACT FROM AUTHOR]

This article discusses the aims and scope of the U.S. National Institute of Health (NIH) Roadmap Epigenomics Mapping Consortium. The consortium is said to provide a publicly accessible resource of epigenomic maps in stem cells and primary ex vivo tissues. It is reported that the consortium will investigate a diverse collection of cell and tissue models and will provide epigenomic data to the scientific community.

The guaranteed lending programs of the Small Business Administration (SBA) are large and growing rapidly. The SBA's fiscal year 2009 Performance Budget calls for $28 billion in guaranteed loans for small businesses—a new record for the agency. Some critics of SBA programs suggest they do not help small businesses or overall economic performance. Other critics suggest that these programs unfairly benefit the financial institutions that participate in SBA's guaranteed lending programs. Whereas very little serious empirical evidence exists on whether the net economic impact of the SBA's guaranteed lending programs is positive or negative, a few recent studies provide some insight into the question. In general, they suggest a small positive impact of the SBA's programs on economic performance. However, the results are very tentative and further research is needed to declare a more definitive position. We provide a general overview of the SBA's guaranteed lending programs and summarize the results of these studies. [ABSTRACT FROM AUTHOR]

Aim Individually focused conservation management of many species is expensive and logistically impractical. Mesofilter conservation methods may facilitate the simultaneous management of multiple species. We used data on distributions of two sets of avian guilds, based on dependence on riparian vegetation and on nest location, to relate occurrence rates to environmental variables. Variables were selected by expert opinion and are likely to be affected by changes in climate and land use. Location Data were collected from 2001–06 in four adjacent mountain ranges in the central Great Basin (Lander, Nye and Eureka counties, Nevada, USA): the Shoshone Mountains and the Toiyabe, Toquima and Monitor ranges. Methods Data on occurrence of birds, vegetation composition and vegetation structure were obtained in the field. Geographical coordinates and the normalized difference vegetation index were derived from a digital elevation model and a satellite image. To construct a general model for guilds as a whole, while allowing flexibility for variation in the functional responses of individual species, we applied multivariate adaptive regression splines. Results The predictive capacity of expert knowledge of relationships between birds and vegetation was inconsistent. Latitude, longitude and elevation may constrain the response of some guilds to changes in vegetation structure and composition. Guild-based models were useful for modelling species with sparse distributions, which are difficult to model individually. In essence, this method supplements models for the individual species with patterns for the guild to which they belong. Main conclusions Guilds of birds appeared to have predictable associations with selected attributes of vegetation structure and composition. The criteria by which species are grouped into guilds may affect the success of predictions and management interventions. Our derived models offer the potential to predict effects on the avifauna of management or climate-driven change in vegetation. [ABSTRACT FROM AUTHOR]

Deregulation and financial consolidation have led to the development of financial holding companies — allowing commercial banking, insurance, investment banking, and other financial activities to be conducted under the same corporate umbrella — and the Federal Reserve has been named supervisor of the consolidated enterprise. This paper will suggest economies of scope between the Fed's inherent central banking responsibilities and those of an umbrella supervisor, and that these dual roles benefit both the Fed and functional regulators.Journal of Banking Regulation (2008) 10, 17–27. doi:10.1057/jbr.2008.21 [ABSTRACT FROM AUTHOR]

In this article, the authors empirically test whether Small Business Administration (SBA) guaranteed lending has a greater impact on economic performance in markets with a high percentage of potential minority small businesses. This hypothesis is based on the assumptions that (1) credit rationing is more likely to occur in markets with a higher percentage of minority small businesses; and (2) SBA guaranteed lending is likely to reduce these credit rationing problems, thus improving economic performance in the local market. Using local market employment rates as the measure of economic performance, the authors find evidence consistent with this proposition. Specifically, the authors find a positive and significant impact of SBA guaranteed lending on the average employment rate in a local market. And, this impact is 200 percent larger in markets with a high percentage of potential minority small businesses. This result has important implications for public policy in general and SBA guaranteed lending in particular. [ABSTRACT FROM AUTHOR]

Increasingly, policymakers look to the small business sector as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsidies through government lending programs. Encouraging lending to small business is the primary policy objective of the Small Business Administration (SBA) loan-guarantee program. Using a panel data set of SBA-guaranteed loans, we assess whether or not SBA-guaranteed lending has an observable impact on local economic performance. We find a positive and significant (although economically small) relationship between the relative levels of SBA-guaranteed lending in a local market and the future per capita income growth in that market. [ABSTRACT FROM AUTHOR]

Over the course of the twentieth century, American leaders have acted consistently to protect what they believed to be vital national interests, taking politically risky steps such as using or threatening to use massive military power, launch preventive wars or escalate conflicts to nuclear war. Up until the end of the Cold War, a shared appraisal of vital interests was the basis for the strategic partnership between the US and Europe. Now, the threat vector for the US has shifted to terrorism, the Middle East and northeast Asia. For Europe, it has simply disappeared. Without this common ground, another transatlantic crisis comparable to the dispute over Iraq seems entirely possible. If US leaders feel vital interests are endangered, they are unlikely to rely on NATO and the UN Security Council to help deal with the threat. [ABSTRACT FROM AUTHOR]

On August 10, 1993, the U.S. Congress passed the Omnibus Budget Reconciliation Act of 1993. Contained in this legislation was a provision that revised the priority of claims on failed depository institutions by making other senior claimants junior to depositors. Congress apparently hoped to reduce the losses to the Federal Deposit insurance Corporation (FDIC) of resolving bank failures by changing the capital structure of banks to enhance the priority of depositors and the FDIC. The Omnibus Budget Reconciliation Act of 1993 included depositor preference legislation intended to reduce resolution costs. However, depositor preference might induce an offsetting reaction by general creditors and may affect resolution type.

Presents a study which examined the ecological responses to the removal of a dam on lower Manatawny Creek in Pennsylvania. Design of Before-After-Control-Impact for Manatawny Creek dam removal; Biotic responses to dam removal within the former impoundment; Recommendations.

Summary1.To help evaluate the worth of alternative pollinators in agriculture, we present a theoretical framework for comparing the effectiveness of two or more pollinators by measuring pollen removal and deposition. 2.We report pollen removal and deposition data by Apis mellifera and Bombus spp. during single visits to four cultivars of apples (Golden Delicious, Starkrimson Delicious, Empire/MacIntosh and Rome) and Mission almond. 3.Apis and Bombus removed similar amounts of pollen from apple flowers but Bombus deposited more pollen on stigmas. Pollen-collecting bees removed more pollen from apple anthers than nectar-collecting bees. Apis that approached nectaries laterally deposited substantially less pollen than other visitors. 4.Apis and Bombus removed and deposited similar amounts of pollen on almond flowers. Apis tended to remove more during pollen-collecting visits than nectar-collecting visits. The type of resource sought did not significantly influence deposition. 5.Based on removal and deposition data, additions of Bombus may increase pollen delivery in apple orchards but reduce pollen delivery in almond orchards if Apis already serve as primary pollinators. Additional data on inter-tree and inter-row flights would be necessary to know how much these changes in pollen transfer might affect fertilization. 6.Measures of pollen-transfer effectiveness do not provide a complete assessment of pollination value, but can serve as a general, inexpensive tool for pre-screening possible alternative pollinators. [ABSTRACT FROM AUTHOR]

Fuel leaks from underground storage tanks (USTs) and piping have been a major source of groundwater contamination. In the U.S. and Europe, regulations requiring upgrading of USTs to meet specific standards have significantly reduced instances of fuel contamination. Leak detection is primarily dependent on physical measurement systems that are generally capable of detecting leak rates as small as 0.2 L/h. Fuel leaks that are smaller than this detection threshold may remain undetected for long periods of time, posing a risk of contamination to shallow groundwater resources in sensitive areas. This risk was evaluated by modeling fate and transport of fuel components from small UST leaks under a variety of subsurface conditions and assuming that secondary containment does not exist. It was found that small leaks do have the potential to impact shallow groundwater, particularly if subsurface conditions are not conducive to natural attenuation processes. This may explain situations where groundwater contamination has been found below service stations in virgin areas that have upgraded leak detection systems. Modeling indicates that passive venting of tank and piping backfill could virtually eliminate the volatile components of fuel resulting from small leaks. Monitoring the tank and piping backfill for persistent gasoline vapor under very low vapor extraction conditions may be the best way to detect small chronic fuel leaks. Routine monitoring of shallow groundwater should be a component of a leak detection program, particularly in high-risk areas. [ABSTRACT FROM AUTHOR]

Discusses the apparent preoccupation of the United States government with globalization in the late 1990s. Globalization or international economic integration versus laissez faire or free markets; International economic integration policies of President Bill Clinton and contributing factors to these policies; Prospects of largely unregulated, free cross-border flow of goods and capital.

Discusses the challenges and limitations presented by bank regulations to the financial services industry in the United States. Imposition of taxes on the industry; Reduction of market-oriented incentives for performance; Competition between banks and nonbanks; Significance of the increase integration of the financial market.

Examines the accuracy of the hog farrowings report of the United States Department of Agriculture. Survey techniques; Performance test; Amount of bias detected by mean-square error statistic.

Analyzes the empirical impact of regulatory capital standards on leverage ratios of bank holding companies in the United States. Interaction of market and regulatory forces; Adoption of capital standards and regulation by the banks; Details on the movements of leverage in a cross-section.

The age-related incidence of malignant neoplasia was surveyed from a total of 301 necropsy cases of rhesus monkeys ranging in age from 13–37 years performed in the Pathology Service Unit of the Wisconsin Regional Primate Research Center during the past 15 years. All our aged monkeys lived in indoor cages and were fed with monkey chow and supplemental fruits during the past decades. In this survey, we found a total of 51 malignant neoplasms, and among them 25 cases were colon cancer. The incidence of colon cancer increased with advancing age: 3.2% at 13–19 years, 9.2% at 20–25 years, 13.5% at 26–29 years, and 20.7% at 30–37 years. Most cancers were located in the cecum and transverse regions with a unicentric origin. Two multicentric cases were associated with chronic hypertrophic colitis. Precancerous polypous lesions were not found in all cases. Histologically, all cases were mucinous adenocarcinoma and had local invasion to the muscular wall. Metastasis to the mesenteric lymph nodes was found in only two cases. As in humans, colon cancer is a common outcome of aging in nonhuman primates. Am. J. Primatol. 44:19–27, 1998. © 1998 Wiley-Liss, Inc. [ABSTRACT FROM AUTHOR]

Reviews EXPLORHO, a game software program available from Syracuse University in Syracuse, New York. Cost; Format availability; Requirements for operation; Usefulness in orienting users to correlating visual maps and spatial statistics.