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Agreement Between UAL & Machinists

Agreement Between UAL & Machinists Maynard, M. (2002, November 21). United and machinists reach deal on concessions. New York Times Online. Retrieved from the Internet on 2002-11-21 at: http:// www.nytimes.com/2002/11/21/business/21AIR.html? Section One: Economic Concept Discussed in Article This article reports on the tentative agreement reached between UAL Corporation (whose primary operating company is United Airlines) an the International Association of Machinists, which represents 37,500 employees at United Airlines, and which holds a large proportion of the equity stock in UAL Corporation. The company has been negotiating with each of its employee groups to gain payroll concessions to reduce the costs of operation so that (hopefully) the company will qualify for…
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Agglomerated Industries

Agglomerated Industries In Chicago, Illinois there are five broad categories of agglomerated industries. These categories are: hospitality/services-related; automotive-related; publishing-related; manufacturing-related industries; and transportation-related. These categories represent both urbanization economies and industrialization economies. The hospitality/services-related industries represent an urbanization economy because benefits accrue to individual households or consumer-oriented activities due to agglomeration of populations benefiting from the access to the general labor force. The other four categories of industries are industrialization economies. These represent agglomeration economies, i.e., external economies resulting from the spatial concentration of industrial activities. This is why automotive-related, publishing-related, manufacturing-related, and transportation-related industries accrue in the Chicago area – the benefits from labor market pooling, cost savings from…
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Agency Theory in Financial Management

Agency Theory in Financial Management This research examines agency theory in corporate control and corporate financial management. Specific interest is directed toward the effects of agency theory on dividends, capital structure, capital budgeting, and mergers. Agency, in law, refers to a practice where one party represents another in the transaction of activities (Nemmers, 1990). With respect to corporate control, agency refers to management's representation of the board of directors in the conduct of a firm's business, and to the representation of stockholders in the corporation by the board of directors in the conduct of the firm's business (Alchian, and Woodward, 1988). Some theorists, researchers, and observers contend that evolution in…
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African Debt

African Debt Introduction: According to an essay written by Ann-Louise Colgan titled Africa's Debt published online on the African Action website, in the 1960s and 1970s, African countries became indebted to international lenders as they accepted loans for political and economic stabilization in the post-independence era. Many of these loans were made to corrupt regimes, and much of the money went into the hands of repressive governments or de facto dictatorships. Sub-Saharan Africa's debt crisis worsened during the 1980s, as the ratios of foreign debt to the gross national product rose from 51 percent in 1982 to 100 percent by 1992. This foreign debt continued to grow during the 1990s.…
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Affirmative Action Empowerment

Affirmative Action Empowerment Affirmative action represents a form of public policy that attempts to advance social justice by expanding educational, employment and other opportunities to traditionally marginalized groups in society. Rupert Barnes Nacoste (87) maintains that affirmative action is "a public policy for which the goal is clear: to empower disenfranchised groups." In the United States, the actual public policy of "affirmative action" was first used in 1965 by President Lyndon Baines Johnson, whose Executive Order 11246 required federal contractors to take "affirmative action to ensure that applicants are employed, and that employees are treated to employment, without regard to their race, creed, color, or national origin" (Sykes 1). In…
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Affirmative Action

Affirmative Action Affirmative Action remains an employment legislation protection system that is intended to redress the systemized discrimination faced by women and minorities in hiring practices in America. Originally, Affirmative Action arose because of President Lyndon B. Johnson’s desire to integrate society on educational, employment, and economic levels. It was John F. Kennedy who issued Executive Order 10925 to create the Commission on Equal Employment Opportunity, a commission that evolved into our modern Equal Employment Opportunity Commission (EEOC), but it was Lyndon Johnson who gathered 300 corporate CEOs together after signing the 1964 Civil Rights Act to “discuss integrating our nation’s workplaces, schools, and economic institutions” (Shelton 1). While Affirmative…
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Advertising Budget and Copy

Advertising Budget and Copy 13percent of net profits, as opposed to being responsible for 80.4 percent of net losses last year, and 75.4 percent of net losses under alternative number one. It is further recommended that the resort concentrate its advertising on the individual destination skier, with the budget allocated according to the geographical source location of these skiers. A proforma advertising budget is presented in Table 4, which may be found beginning below on this page. =============================================================== Media Amount   Midwest $ 47,300 Florida 31,600 California 26,900 Pacific Northwest 23,700 Texas 12,700  Total $142,200 Midwest $ 23,700 Florida 15,800 California 13,400 Pacific Northwest 11,900 Texas 6,300 …
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Advertising & Economics

Advertising & Economics Advertising is an essential part of doing business, and it serves many functions beyond informing consumers that products and services exist. Advertising has a number of known economic con-sequences which have been studied: it may affect total demand in the economy, aggregate demand for products within an industry, the ratio between consumer spending and saving, and the market shares of firms competing within the same industry. While many of the theories and principles of advertising are not absolute, advertis-ing has been shown to have major influences on market conditions and to play an important role in shaping market strategies. There is no fixed formula for advertising success.…
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ADAM SMITH, RONALD REAGAN, AND JEFFREY SACHS

ADAM SMITH, RONALD REAGAN, AND JEFFREY SACHS ADAM SMITH, RONALD REAGAN, AND JEFFREY SACHS This research draws comparisons with the economic theories of Adam Smith in the 1770s, the economic policies followed during the presidency of Ronald Reagan in the 1980s, and the economic prescriptions advocated by Jeffrey Sachs in the 1990s. The emphasis in this research is on trade and economic activity. In the formulation of economic theory, Adam Smith was principally concerned with the factors which led to increased wealth in an economy. Smith (1776, pp. 131-136) contended that the cost of labor provided the basis for the determination of the value of a commodity. Smith further contended…
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Adam Smith’s Conception of Value

Adam Smith's Conception of Value This research analyzes Adam Smith's conception of the theory of value, and its relationship to the development of wealth. In the development of economic theory, there have been three broad approaches to the analysis of value. The first approach concerns general use. The general use theories are based on an assumption that the value of a commodity is related to the functions for which it may used (Ekelund & Hebert, 1983, pp. 66-76). The second approach considers production costs, and is often referred to as the labor theory of value. The labor theory approach to the analysis of value postulates that value reflects the cost…
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