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The Howard Shuttering Contractors case throws considerable light on the importance which the tribunals attach to warnings before dismissing an employee. In this case the tribunal took great pains to interpret the intention of the parties to the different site agreements, and it came to the conclusion that the agreed procedure was not followed. One other matter, which must be particularly noted by employers, is that where a final warning is required, this final warning must be “a warning”, and not the actual dismissal. So that where, for example, three warnings are to be given, the third must be a “warning”. It is after the employee has misconducted himself thereafter that the employer may dismiss.

This case involved foreign exchange transactions conducted by the First Defendants, a firm of commodities traders then trading as LHW Futures Ltd (LHW), on behalf of the Plaintiff who was an individual investing his own money in a private capacity. The Second Defendant, Mr Morris, was at all material times a senior account executive with LHW and dealt with the Plaintiff in relation to the transactions at issue. The events giving rise to this action occurred in the years 1984–85. The trading contract between LHW and a client would involve the client paying over a sum which would represent commission and margin on the particular currency trade. The commission, at 2 per cent of the total contract value, was high in comparison to other traders because it was a feature of these contracts that there would be no further margin calls to the client since an automatic stop loss mechanism was built in to the contract which had the effect that a client's total loss was limited to the amount of the original margin. In theory a client's profit on a currency contract was unlimited but in practice merely to break even and cover commission required a substantial rise in the price of the currency bought whereas a relatively small drop in its price would wipe out the client's position once and for all regardless of any subsequent rises. One defence expert testified that the likely effect of this form of currency trading contract was that approximately 90 per cent of investors would be wiped out while only 10 per cent profited. The Plaintiff in this action was an engineer and property developer with most of his assets tied up in a land bank and housing development. He was inexperienced in stock trading and commodities markets. In July 1985 the Plaintiff entered into two trades in Swiss Francs with LHW. He invested £2,600 in the first trade and £23,400 in the second. The Plaintiff was then passed on within LHW to Mr Morris, the Second Defendant, who dealt with ‘bigger clients’. On 30th July, 1985, Morris urged the Plaintiff to invest in one hundred lots of sterling at a total cost to him of £150,000. The Plaintiff bought ten lots of sterling at a cost of £15,000 paying £10,000 in cash and raising the balance by stripping it out of the earlier Swiss Franc deal. The price of sterling went against the Plaintiff and, as the stop loss position was about to be reached Mr Morris rang the Plaintiff to recommend he buy another ten lots of sterling at £15,000 to average out his position. Mr Morris was aware that the Plaintiff did not have the cash available and that he would have to borrow the necessary cash, as indeed he did. On 1st August the Plaintiff entered into the fourth trade at issue in this case. The stop loss position was reached on that trade too and the Plaintiffs position was wiped out. On 5th August the Plaintiff's trading position was closed and of his total stake of around £54,000 he recovered only £2,231.62.

Reviewing the Food Standards Report on Misdescriptions contained in this issue—the terms, names, phrases widespread in the field of agriculture and food—one cannot fail to notice the impressive role that words generally play in everyday use of language, especially in those areas where widespread common usage imports regional differences. The modern tendency is to give to words new meanings and nowhere is this so apparent as in the food industry; the Food Standards Committee considered a number of these. The FSC see the pictorial device as making a deeper impression than mere words in relation to consumer preference, which is undoubtedly true. Even Memory can be compartmentalized and especially with the increasing years, the memory tends to become photographic, retaining visual impressions more strongly than the written word. Auditory impressions depend largely on their accompaniments; if words are spoken with the showing of a picture or sung to a catchy tune, these will be more strongly retained than mere words on a printed label. At best, pictorial devices give rise to transient impressions, depending on the needs and interests of the viewer. Many look but do not see, and as for spoken words, these may “go in one ear and out of the other!”.

The ISHM CAN‐AM Chapter recently organised a half‐day programme of paper presentations followed by a tour of a local hybrid facility. The event took place on 26 April at the Holiday Inn, Montreal (Pointe Claire), Quebec, with the theme of the papers concentrating on advances in hybrid manufacturing processes and some coverage of SMT.

Through an ethnographic content analysis of 936 letters to the editor, op-eds, and editorials and 1,195 online comments, this chapter examines how participants in the public sphere neutralized accusations of racism leveled against Donald Trump in the early phase of his presidential campaign. The study shows that both supporters and opponents effectively (if not purposefully) neutralized racism through a number of techniques. Trump’s opponents neutralized racism by calling attention to a number of other perceived flaws in his candidacy. Trump’s supporters obscured the charges of racism by endorsing him and calling attention to positive qualities. Others neutralized racism by changing the subject or making neutral observations. Supporters neutralized charges of racism in three additional ways. Most commonly, they framed Trump’s comments as accurate. Some defensively drew a distinction between legal and illegal immigration. A relative few claimed that others were also racist or xenophobic. That there were a number of ways of defining Trump’s stance toward Mexican immigrants demonstrates the role of human agency in producing social structures. Structural factors in the discursive field such as the stock of existing conservative frames, Trump’s absurdity shield, and political partisanship also facilitated the neutralization of accusations of racism.

Manufacturing, Western management theories and Japanese management practices.

This case can be used in project management or management-related courses at tertiary institutions at Undergraduate and Postgraduate level.

This case provides students with an opportunity to find out what make Toyota so successful in manufacturing through its famous production system as well as the underlying Toyota Way principles. All students are expected to understand the Toyota Way model with a balanced view that goes beyond a set of lean tools such as just-in-time. This case opens a historical account for the Toyota Way model by connecting with possible Western management theories and Japanese management practices.

It is expected to significantly benefit students with industry experience with the intention of initiating appropriate changes in their own industry and/or organization by applying what they have learnt from the Toyota Way, through bridging with Western management theories.

Teaching notes.

ON AVERAGE FIGURES, all coutries in the developed world (but, regrettably, not in the third world) are able to increase their national output year by year. Examined in isolation, statistics associated with such growth (e.g. output per worker) demonstrate a comforting trend — even though the vertical scales of graphics might have been selected with that purpose in mind! The simple step of making cross‐country comparisons can, however, quickly remove some of the complacency.

Located within growing scholarly interest in linking the global financial crisis with revelations of financial crime, this piece utilises Roman Tomasic's suggestion that the financial crisis has marked something of a turning point in regulatory responses to financial crime worldwide. Tomasic attributes this to changing attitudes towards light-touch regulation and risk assessment, and the demand for existing agencies to be replaced with new tougher authorities. In the UK, this can be illustrated by the imminent replacement of the FSA with the Financial Conduct Authority (FCA). The paper aims to discuss these issues.

Discussion of the FSA's financial crime fighting activity is an important forecast for the likely directional focus of the FCA in this regard. A focus only on “market abuse” enforcement within this arises on account of the effects for financial systems widely attributed to this activity, with threats to systemic stability being a hallmark of the 2007-2008 financial crisis. This methodology also encourages coherence in focus and management of sources within the article. Market abuse enforcement provides a lens for exploring the FSA's adoption of the philosophy and ethos of “credible deterrence”, and FCA commitment to retain it, and ultimately for applying the hypothesis of the “haphazard pursuit of financial crime” to pre-crisis criminal enforcement relating to financial crime undertaken by the FSA.

The FSA and FCA appear acutely aware that the financial crisis has marked something of a turning point for the enforcement of financial crime, and for signalling changes in approach, for the reasons explored by Tomasic. Tomasic correctly identifies factors encouraging a range of undesirable practices pre-crisis, and ones signalling tougher and more sustained attention being paid to financial crime henceforth. It is noted that, pre-crisis, the FSA's pursuit of criminal enforcement of market abuse was conscious, comprehensively resourced, well publicised, and actually extensive.

This exploration of the FSA's criminal enforcement of market abuse given the Authority's own perceptions that it was not, and could never be, a “mainstream” criminal prosecutor considers the likely lasting legacy of this determined pursuit, when domestic politics and pan-European policies suggested against this. This is likely to be enormously valuable as the FCA undertakes this task in a domestic arena which is markedly in contrast from this, and where European agendas are pushing in favour of criminal enforcement, with the “more Europe, or less” debate providing a further dimension of interest.