Donald Palmer and Michael Maher
We use normal accident theory to analyze the financial sector, especially that part of the financial sector that processed home mortgages, and the mortgage meltdown. We maintain…
Abstract
We use normal accident theory to analyze the financial sector, especially that part of the financial sector that processed home mortgages, and the mortgage meltdown. We maintain that the financial sector was highly complex and tightly coupled in the years leading up to the mortgage meltdown. And we argue that the meltdown exhibited characteristics of a system or normal accident; the result of a component failure (unusually high mortgage defaults) that, in the context of unique conditions (which included low interest rates and government policy encouraging home loans to less credit-worthy households), resulted in complex and tightly coupled interactions that financial elites and government officials were ill-equipped to control. We also consider the role that agency and wrongdoing played in the design of the financial system and the unfolding of the mortgage meltdown. We conclude that a fundamental restructuring of the financial system, so as to reduce complexity and coupling, is required to avert future similar financial debacles. But we also conclude that such a restructuring faces significant obstacles, given the interests of powerful actors and the difficulties of labeling those responsible for the meltdown as wrongdoers.
R. Wayne Johnson, Vicky Wang and Michael Palmer
Studies immersion gold over electroless nickel, immersion gold over electroless palladium, immersion gold over electroless palladium over electroless nickel, immersion gold over…
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Studies immersion gold over electroless nickel, immersion gold over electroless palladium, immersion gold over electroless palladium over electroless nickel, immersion gold over immersion silver and immersion silver. In the palladium finishes, two palladium thicknesses were evaluated: 10‐12μin. and 18‐20μin. Multiple plating chemistry suppliers provided plated test vehicles. HASL and OSP test vehicles were included as control samples. In total, 14 finishes were evaluated in the test matrix. The test vehicle was a daisy chain of zero ohm 1,206 chip resistors that could be monitored individually. Test vehicles were assembled using 63Sn/37Pb eutectic solder paste on an automated assembly line. The thermal cycle range was ‐40°C to 125°C with 30‐minute transition times and 15 minutes at each extreme in a single chamber air system. For each test matrix cell, 120 zero ohm resistors (40 from three boards) were continuously monitored for electrical failure (>100ohms). In addition, resistors were sheared from test vehicles and the shear force at failure was recorded. A decrease in shear force did occur with thermal cycling due to crack initiation and growth in the solder joints. Solder joint cracks have also been examined.
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Timothy W. Cole and Sarah L. Shreeves
In the fall of 2002, the University of Illinois Library at Urbana‐Champaign received a grant from the Institute of Museum and Library Services (IMLS) to implement a collection…
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In the fall of 2002, the University of Illinois Library at Urbana‐Champaign received a grant from the Institute of Museum and Library Services (IMLS) to implement a collection registry and item‐level metadata repository for digital collections and content created by or associated with projects funded under the IMLS National Leadership Grant (NLG) program. When built, the registry and metadata repository will facilitate retrieval of information about digital content related to past and present NLG projects. The process of creating these services also is allowing us to research and gain insight into the many issues associated with implementing such services and the magnitude of the potential benefit and utility of such services as a way to connect, bring together, and make more visible a broad range of heterogeneous digital content. This paper describes the genesis of the project, the rationale for architectural design decisions, challenges faced, and our progress to date.
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Adam Lindgreen, Balázs Révész and Mark Glynn
The purpose of this article is to provide a brief summary of all the articles in this special issue.
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The purpose of this article is to provide a brief summary of all the articles in this special issue.
Design/methodology/approach
Briefly discusses each article in this special issue.
Findings
This special issue of Journal of Business & Industrial Marketing aims to understand in greater depth both business‐to‐business purchasing and various types of buyer‐seller relationships. The authors selected 14 articles that provide an in‐depth understanding of the critical issues involved in purchasing orientations.
Originality/value
The article highlights how the papers in the special issue seek to understand in greater depth both business‐to‐business purchasing and various types of buyer‐seller relationships.
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Thomas Grigalunas, Simona Trandafrr, Meifeng Luo, James Opaluch and Suk-Jae Kwon
This paper analyzes two external costs often associated with port development, cost to fisheries from marine dredge disposal and damages from air pollution, using estimates of…
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This paper analyzes two external costs often associated with port development, cost to fisheries from marine dredge disposal and damages from air pollution, using estimates of development and operation for a proposed (but since cancelled) container port as a case study. For dredge disposal, a bio-economic model was used to assess short- and long-term and indirect (joodweb) damages to fisheries from marine disposal of clean sediments. In the case of air pollution, estimates of annual activity levels and emission coefficients are used to estimate incremental annual emissions of three key pollutants (NOx, HC and CO) for trucks, trains, yard vehicles, and vessels. These estimates allow for phasing in of strict new air pollution regulations. For both external costs, sensitivity analyses are used to reflect uncertainty. Estimates of shadow values in year 2002 dollars amount from $0.094 per cubic yard to $0.169 per cubic yard of clean dredged material for the selected disposal site and from $0.0584 per mile (jor current control standards) to $ 0. 0023 per mile (after phasing in of new regulations) for air pollution from heavy trucks.