Bhopal,India and Union Carbide: The second tragedy

The paper examines the legal, ethical, and public policy issues involved in the Union Carbide gas leak in India which caused the deaths of over 3000 people and injury to thousands of people. The paper begins with a historical perspective on the operating environment in Bhopal, the events surrounding the accident, then discusses an international situation audit examining internal strengths and weaknesses, and external opportunities and threats faced by Union Carbide at the time of the accident. There is a discussion of management of the various interests involved in international public relations and ethical issues. A review of the financial ratio analysis of the company prior and subsequent to the accident follows, then an examination of the second tragedy of Bhopal — the tragic failure of the international legal system to adequately and timely compensate victims of the accident.The paper concludes with recommendations towards public policy, as well as a call for congressional action regarding international safety of U.S. based multinational operations.Clayton Trotter is a graduate of the University of Texas School of Law and College of Business Administration. Currently, he teaches in both the College of Business and the School of Law at Texas Tech University; and was formerly Associate Professor of Law at the Coburn School of Law in Virginia Beach, Virginia. He has taught courses in Real Estate Law, Corporations, International Business Transations, and Business Law.Mr. Trotter has been attorney of record in a number of contested civil cases and has appeared in the Fifth and Seventh United States Circuit Court of Appeals on such cases. He is licensed in Texas, Florida and the Supreme Court of the United States.He has authored a number of articles on business related legal matters.Susan G. Day is a Texas Real Estate Broker, Escrow Agent, and Insurance Agent. She graduated from Texas Tech University with a major in Business Administration with an emphasis on Management. She currently attends Texas Tech University pursuing a graduate degree in Education.Susan is Past President of the Toastmasters International group at Texas Tech University giving speeches and lectures on real estate and law. In addition, Susan is a member of the following associations at Texas Tech University: Society for Advancement of Management, Marketing Association, Tech Management Association, Lubbock Legal Secretaries Association, National Association for Female Executives and the Ex-Students Association.Amy E. Love graduated Magna Cum Laude in December, 1988 with a Bachelor of Business Administration degree in Management from Texas Tech University. Her long range goals include graduate school where she would like to emphasize finance. Amy is a member of the Society for Advancement of Management, Golden Key National Honor Society, Gamma Sigma Honor Society, and Phi Beta Kappa Honor Society.     

Linkage Disequilibrium Mapping of Disease Susceptibility Genes in Human Populations

The paper reviews recent work on statistical methods for using linkage disequilibrium to locate disease susceptibility genes, given a set of marker genes at known positions in the genome. The paper starts by considering a simple deterministic model for linkage disequilibrium and discusses recent attempts to elaborate it to include the effects of stochastic influences, of "drift", by the use of either Writht-Fisher models or by approaches based on the coalescence of the genealogy of the sample of disease chromosomes. Most of this first part of the paper concerns a series of diallelic markers and, in this case, the models so far proposed are hierarchical probability models for multivariate binary data. Likelihoods are intractable and most approaches to linkage disequilibrium mapping amount to marginal models for pairwise associations between individual markers and the disease susceptibility locus. Approaches to evalutation of a full likelihood require Monte Carlo methods in order to integrate over the large number of unknowns. The fact that the initial state of the stochastic process which has led to present-day allele frequencies is unknown is noted and its implications for the hierarchical probability model is discussed. Difficulties and opportunities arising as a result of more polymorphic markers and extended marker haplotypes are indicated. Connections between the hierarchical modelling approach and methods based upon identity by descent and haplotype sharing by seemingly unrelated case are explored. Finally problems resulting from unknown modes of inheritance, incomplete penetrance, and "phenocopies" are briefly reviewed.     

AGRICULTURAL DEVELOPMENT AND FARM INCOME DISTRIBUTION IN LDCs

There were remarkable and sustained increases in agricultural and food production in the developing countries over the last three decades. But the fruits of this progress were not shared by all, and many remain in poverty. Some believe this due to the unequal distribution of benefits and accordingly claim that an agricultural strategy which focuses on reducing disparities of income, assets and access is the most important objective for agricultural development. This approach is justified by claims of wide and increasing disparities of income in the agricultural sectors of LDCs. This paper looks at the evidence for such claims and finds that they cannot be supported by hard evidence. Indeed, the few valid studies of agricultural income distribution show modest disparities. Accordingly, redistribution strategies, especially those aimed at uni-modal farm sectors, are rejected as unnecessary, undesirable and unachievable (without destroying the main spring of agricultural progress). On the contrary, it is urged that growth in productivity, output and incomes should be the dominant development objective to encourage, as many examples show, the enterprise, ability and energy of small farmers and their families. Such a strategy produces a degree of unequal distribution of benefits which reflects the distribution of personal qualities and endowments and acts as an incentive to their exercise. To keep disparities within bounds, agricultural policies relating to pricing, extension, credit, research and so on should aim at widening the number of small farmer beneficiaries of agricultural development.     

Construction of a class of forward performance processes in stochastic factor models,and an extension of Widder’s theorem

Finance and Stochastics - We consider the problem of optimal portfolio selection under forward investment performance criteria in an incomplete market. Given multiple traded assets, the prices of...     

The Longitudinal Surveys of Australian Youth: 20 Years and Beyond

The Longitudinal Surveys of Australian Youth (LSAY) follow several cohorts of young Australians as they move through secondary school, into further study, work and other destinations. The LSAY datasets provide an evidence‐based capacity for sophisticated exploration of policy and research questions through insights into individual changes, transitions and trajectories across the life‐course of young Australians. This article aims to provide an update on the progress of LSAY, including its history, evolution of the sample, sample maintenance activities, updates to the information collected, developments to the survey, the many uses that have been made of the data and possible enhancements.