as expressed in our mission statement, RREEF Real Estate
seeks to provide our clients with superior long-term returns
while appropriately managing risks to our clients. this goal
directly aligns with our commitment to continuously seek
improvement in the environmental performance of our
assets under management across a variety of value drivers.
being sustainable enhances operating efficiency,
increasingly satisfies investor considerations and
mandates, promotes compliance with growing regulations
and mitigates risks.
The LIBOR is the London Interbank Offered Rate, which is used as a reference rate in loan
transactions between banks. The LIBOR floor, introduced in recent years to help enhance
bank loan yields in extremely low interest rate environments, is around 1%–2% (note that
until LIBOR reaches the “floor” level, bank loan returns do not increase with rising rates).
The credit spread is the market-determined spread paid to the investor for taking on the
credit risk (historically the normal range has been 3%–8%, depending on the riskiness of a
The fourth component of the architecture of
community refers to connections between places as
expressed through the flow of people, capital and
information. We see these connections clearly in the
notion of bridging social capital and high value civic
institutions, and they are a logical consequence of the
ways in which quality public assets create consumer
and investor demand.
Understanding regional connections has become
important to policy analysts concerned with
economically distressed communities.
The decision to increase the role of stock market was taken, as a part of the
‘shock therapy’, without adequate preparation or understanding of the behaviour of
the financial sector and of the major players -- intermediaries, promoters, investors
and the regulators – in a country like India, and even ignoring the experience of the
1980s when initially the stock market was given a major push. The gates were
thrown wide open as it were.
Jeremy Grantham, who has consistently identified overpricing in the US
equity markets – he flagged both the Dot Com bubble and the irrational
pricing that preceded the financial crisis, for instance – said last week
that US stocks are “a little expensive” and bonds are “disgusting.” But
his sternest warning to investors concerned the longer-term threat posed
by global resource constraints.
Abnormally high corporate profits are the primary reason for Grantham’s
contention that stocks are overvalued.
as mentioned, sexual and reproductive health is a
unique sub-sector, due to its close association with
important and sensitive socio-cultural factors and
gender roles which define and prescribe appropriate
opportunities and avenues of action. the field is
uniquely sensitive and therefore must involve explicit
exploration across all areas of activity of some critical
cross cutting issues – among them gender, adolescent
health, sexually transmitted infections and HIV/AIDs.
Here's the deal: there are lots of teachers and librarians who'd love to get hard-copies of
this book into their kids' hands, but don't have the budget for it (teachers in the US spend
around $1,200 out of pocket each on classroom supplies that their budgets won't stretch to
cover, which is why I sponsor a classroom at Ivanhoe Elementary in my old neighborhood
in Los Angeles; you can adopt a class yourself at ‹http://www.adoptaclassroom.org/›.
There are generous people who want to send some cash my way to thank me for the free
Senator Long undoubtedly understood that once a provision is in the tax
code, it is likely to remain. Indeed, the EITC remained in the tax code each
subsequent year until it was made permanent in 1978. Legislation in 1978
also added a ﬂat range to the EITC’s phase-in and phaseout ranges, as
shown in ﬁgure 3.1.
An “advance payment” option was also added to the
credit in 1978, so that workers would be able, if they desired, to receive the
credit incrementally throughout the year.
Spending on the safety net slowed in the late 1970s and shrank in the
“In striving for entertainment, our imagination must have neither limits nor
bounds. It has always been a basic need in creative efforts. ‘Imagination,’ wrote
Stanislavsky, ‘must be cultivated and developed; it must be alert, rich and active.
An actor (animator) must learn to think on any theme. He must observe people
(and animals) and their behavior—try to understand their mentality.’
“To one degree or another, people in our audience are aware of human and animal
behavior. They may have seen, experienced or read about it.
While reviews of aid effectiveness in Lao People’s Democratic Republic in 2008 and 2009 showed
little progress, one positive, concrete example has been the harmonization of key donors around the
implementation of the maternal and newborn child health package (MNCH).
We examine the causes and consequences of European real estate firms’ decisions
to provide investment property fair values prior to the required disclosure of this information
under International Financial Reporting Standards (IFRS). We find evidence that investor
demand for fair value information—reflected in more dispersed ownership—and a firm’s
commitment to transparency increase the likelihood of providing fair values prior to their
required provision under International Accounting Standard 40 – Investment Property.
One of the main reasons for choosing ARC is for its superior ability at handling
imbalanced class distributions. It utilizes the association rule mining, making sampling
unnecessary in many cases otherwise requiring sampling. In [WZYY05], ARC has been
shown to produce the best result among many algorithms on the data set used for KDD-
98 [Kdd98], which has a skewed class distribution. In addition, ARC can handle high
dimensionality (the data set has more than 400 variables) without a considerably long
Consider my parents. My mother did not know any geomorphology or
landscape ecology. Yet she enjoyed her familiar, Southern US rural land-
scapes. My father enjoyed the fertility of the soils in the Shenandoah Valley
in Virginia; he admired a good field. On visits around, he would take a spade
and turn the soil to see whether it might make a good garden. He always
knew what watershed he was in, what crops were growing where. He loved
a good rain. Both enjoyed the changing seasons, the dogwood and redbud in
the hills in the spring, the brilliant and subtle colours...
THE VENTURE CAPITAL INDUSTRY has grown dramatically over the last decade. In the
United States, venture capital (hereafterVC) investments grew from $3.3 billion
in 1990 to $100 billion in 2000. In Europe, funds invested in VC grew from $6.4
billion in 1998 to more than $10 billion in 1999.The success of VC is largely due
to the active involvement of the venture capitalists.These so-called hands-on investors
carefully select the investment projects they are proposed (Sahlman
(1988, 1990)) and remain deeply involved in those projects after investment is realized.
Foreign capital inflows are playing an important role in the U.S. economy by bridging the gap
between domestic supplies of and demand for capital. In 2008, as the financial crisis and global
economic downturn unfolded, foreign investors looked to U.S. Treasury securities as a “safe
haven” investment, while they sharply reduced their net purchases of corporate stocks and bonds.
In 2009, foreign capital inflows continued to drop as private investors sharply retrenched, while
official purchases of U.S. Treasury securities by foreign governments rose sharply.
Legislators/regulators should keep in mind that market making is a substantial part
of the provision of financial products, like bonds (including governmental bonds), exchange traded
funds, or investment certificates. Therefore, it seems reasonable from an economic perspective that
these activities remain linked to the deposit taking activities. Due to their branch networks and other
distribution channels, deposit taking banks are the main distributors of such financial instruments
throughout the European Union.
Competition among banks for funds ties the RP rate closely to the federal funds rate. The RP rate has
historically been below the federal funds rate because RPs are collateralized, which makes them safer than
federal funds, and because arranging RPs entails additional transactions costs. Data on RP rates paid by
banks to their corporate customers are not available, but from 1983 to 1990 the dealer RP rate (the rate
government security dealers pay to obtain funds through RPs) was around 20 to 25 basis points below the
federal funds rate. For reasons...
Profits which arise from carrying on trades, professions and vocations
cannot usually be worked out by simply adding together the cash receipts of
the business and deducting expenses paid out. This would show the
business’ cash flow, but it would not usually be a proper measure of
To arrive at the profits it is necessary to draw up accounts using the
methods which accountants have developed for dealing with income that has
been earned but not received, expenses which have been incurred but not
paid or paid but not fully used, and so on.
Physical and reputational pressures affecting water availability and wastewater
discharge can result in more stringent water policies. Water scarcity, coupled with
increased concern among local communities about water withdrawals, will put pressure
on local authorities and policymakers to consider water reallocations, regulations, and
development of water markets that cap usage, suspend permits to draw water and lead to
stricter water quality standards. Jurisdictional legal disputes can also arise (see Box 6).
Rapid industrialization and the demands of munitions production in World War 1 saw the emergence
of management scientists and industrial engineers such as Elton Mayo and Frederick Winslow Taylor,
who studied people and productivity in factories (Kanigel, 1997). Henry Ford made production-line
manufacture famous with his Model T automobile and, especially important for project managers,
Henry Gantt (1861-1919), who worked for Taylor, developed his now-famous charts which are still
popular and used universally today....