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The last two years have witnessed what may justly be described as a revolutionary change in the packaging and marketing of goods, of which pre‐packed food constitutes a substantial part, but as far as public reaction goes, it has largely been a silent witness. There has been none of the outcry such as accompanied metrication, sufficient to call a halt to the process, and especially to the introduction of the decimal currency, of which most shoppers are convinced they were misled, “conned”. Every effort to make the changeover as smooth as possible was made; included was the setting up within the Department of Trade of a National Metrological Co‐ordinating Unit charged with co‐ordinating the work of 91 local weights and measures authorities in Great Britain in enforcing the new law, the Weights and Measures Act, 1979. This Act replaced the net or minimum system of the old law, the traditional system, re‐enacted in the Weights and Measures Act, 1963 with the average system, implementing EEC Directives and bringing weights and measures into line with Member‐states of the European Community.

Reports briefly on the Technical Sessions and other presentations of the 43rd All‐India Conference of the Indian Library Association, and mentions the recommendations made by delegates at the conclusion of the conference.

The paper considers the development of the unique fiscal relationship that exists between the government of Fiji and Emperor gold mines. Over a period of 40 years Emperor has not only paid negligible amounts of taxes and royalties it has frequently been directly subsidised by the state. In 1983 the government signed the Vatukoula tax agreement which effectively gave new mines a tax holiday for over 20 years. At the time of writing, Emperor regularly declares a dividend, is profitable in comparison to similar mines and pays no corporate taxes. The tax agreement stands as unique among developing countries in terms of allowing all potential rents from the mine to pass directly to the mine owners and almost nothing to the resource owner.

Insurance‐linked securities can benefit both issuers and investors; they supply insurance and reinsurance companies with additional risk capital at reasonable prices (with little or no credit risk), and supply excess returns to investors that are uncorrelated with the returns of other financial assets. This article explains the terminology of insurance and reinsurance, the structure of insurance‐linked securities, and provides an overview of major transactions. First, there is a discussion of how stochastic catastrophe modeling has been applied to assess the risk of natural catastrophes, including the reliability and validation of the risk models. Second, the authors compare the risk‐adjusted returns of recent securitizations on the basis of relative value. Compared with high‐yield bonds, catastrophe (“CAT”) bonds have wide spreads and very attractive Sharpe ratios. In fact, the risk‐adjusted returns on CAT bonds dominate high‐yield bonds. Furthermore, since natural catastrophe risk is essentially uncorrelated with market risk, high expected excess returns make CAT bonds high‐alpha assets. The authors illustrate this point and show that a relatively small allocation of insurance‐linked securities within a fixed income portfolio can enhance the expected return and simultaneously decrease risk, without significantly changing the skewness and kurtosis of the return distribution.

Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The shareholders' role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place. The responsibilities of the board include setting the company's strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship. The board's actions are subject to laws, regulations and scrutiny by the shareholders in general meeting.

Presents the results of an empirical investigation into American executives’ perceptions of business climates in India and China. Addresses six distinct issues cocnerning economy, management, marketing, government, labour and finance. Attempts to establish the homogeneity of internal consistency of the shortened version of Buntzman’s 31 item scale used in the study. Surveyed 110 US businessmen working in these countries. Suggests that findings show India to possess a more favourable business climate but perceive China’s economy to be better.

Wonders whether companies actually have employees best interests at heart across physical, mental and spiritual spheres. Posits that most organizations ignore their workforce – not even, in many cases, describing workers as assets! Describes many studies to back up this claim in theis work based on the 2002 Employment Research Unit Annual Conference, in Cardiff, Wales.