Diversification or specialization : The role of risk

The purpose of this article is to analyse the use of diversification and market specialization as corporate strategies by non-ferrous metal company managements as responses to adverse financial conditions. The analytical framework is provided by the financial theory of risk. Managements must deal with both company specific risk and market risk as they attempt to improve the profitability of their companies. Companies from the US copper industry are used as empirical examples. Deversification is a flexible but risky strategy. Specialization is a more restrictive strategy but it is less risky. The appropriate strategy to use depends on the particular situation of a company.     

Translocations and the Preservation of Allelic Diversity

Translocation is a tool commonly used for the conservation of threatened and endangered fish species. Despite extensive use, the biological implications of translocation remain poorly understood. Of particular interest is the effect of translocation on genetic variability. Maintenance of genetic variability in these "refuge" populations is assumed to be important for both short- and long-term success. We examined allozyme variability at 16 loci for western mosquitofish ( Gambusia affinis ) populations with known histories of introduction. Refuge populations had significantly lower levels of heterozygosity. Refuge populations also had considerably lower levels of allelic diversity than parental populations. All losses were of relatively rare alleles (frequency less than 0.1 in parental population). These losses were probably due to an undocumented bottleneck early in the introduction history. These results were surprising because the initial transplant involved 900 fish and because mosquitofish have numerous reproductive traits that should minimize the effects of bottlenecks on genetic diversity. A literature review revealed that genetic variability is often reduced in refuge populations and that such reductions typically involve the loss of alleles. We suggest that translocated populations be examined periodically for losses of genetic variability.     

A Decision-Support System for Prioritizing Restoration Sites on the Mississippi River Alluvial Plain

Conversion of forested wetlands to agricultural use and the resulting fragmentation of the landscape has led to concerns for the functional integrity of the Mississippi River Alluvial Plain ecosystem. We describe an effort spearheaded by The Nature Conservancy to initiate a multi-decade partnership dedicated to creating and implementing a viable, cooperative, landscape-level restoration project in the Mississippi River Alluvial Plain. Important phases of the process during the first 5 years were (1) initiation of the development of an extensive network of partners, including state and federal agencies, private land owners, conservation groups, academicians, and other interested citizens; (2) development of a geographic information system (GIS) for the entire extent of the ecosystem; and (3) for one watershed, the Tensas basin in northeastern Louisiana, refinement of a high resolution GIS to generate more detailed land-use conversion statistics to demonstrate the feasibility of a semi-objective, landscape-scale restoration planning procedure, including methodology for prioritization of existing wetland forest patches and areas most suitable for reforestation and connection via corridors.     

Adaptation to air pollution

This study examines human adaptation to air pollution by comparing responses to photochemical smog of long-term residents and recent residents of the Los Angeles air basin. Long-term residents in comparison to recent migrants use a higher response criterion to identify smog in a visual signal detection task. There is no difference in visual sensitivity between the two residential groups in detecting the presence of air pollution in photographic slides. Thus for low levels of visual air pollution, both long-term residents of Los Angeles and new migrants are equally accurate in detecting the presence of smog. Long-term residents, however, are less likely to decide that smog is present in a scene. This response bias is interpreted in terms of adaptation level theory. Characteristics of the response bias differences between the two residential groups are examined in detail using signal detection procedures.     

Flood control failure: San Lorenzo River,California

The San Lorenzo River on the central California coast was the site of a major US Army Corps of Engineers flood control project in 1959. By excavating the channel below its natural grade and constructing levees, the capacity of the river was increased in order to contain approximately the 100 year flood. Production and transport of large volumes of sediment from the river's urbanizing watershed has filled the flood control project with sand and silt. The natural gradient has been re-established, and flood protection has been reduced to containment of perhaps the 30 year flood. In order for the City of Santa Cruz, which is situated on the flood plain, to be protected from future flooding,it must either initiate an expensive annual dredging program, or replan and rebuild the inadequately designed flood control channel. It has become clear, here and elsewhere, that the problem of flooding cannot simply be resolved by engineering. Large flood control projects provide a false sense of security and commonly produce unexpected channel changes.     

POLLUTANTS ASSOCIATED WITH SAND AND SALT APPLIED TO ROADS IN MINNESOTA1

ABSTRACT: The component of snowmelt pollutant washoff due to sand and salt application to roadways in Minnesota is simulated. Laboratory methods are used to extract various pollutants from sand-salt mixtures commonly used in the Minneapolis-St. Paul Metropolitan Area of Minnesota for keeping winter road conditions safe. Values derived in the laboratory are compared with actual snowmelt runoff values to estimate the contribution of materials application. High concentrations of solids, phosphorus, lead and zinc in snowmelt from road surfaces axe due in part to sand and salt spread to improve winter driving conditions. The source of the sand and salt appears to be influential in determining the pollutant levels. Judicious use and careful application of materials can reduce the increment of pollution due to anti-skid sand and salt applied to road surfaces.     

EXAMPLES OF LANDFILL-GENERATED PLUMES IN LOW-RELIEF AREAS,SOUTHEAST FLORIDA1

ABSTRACT: Areas of low topographic relief have low water-table gradients and make the direction of movement of contaminants from land fills in the ground water difficult to predict from regional gradients alone. The landfill, nearby free-flowing ditches or canals, variations in hydraulic conductivity, and the influence of nearby pumping wells can all affect the direction of flow. In low-gradient areas the concepts of “upgradient” and “downgradient” are less useful in planning the location of monitoring wells than in areas of higher relief. Low-relief areas also may be affected by the discharge of mineralized water from deeper aquifers, naturally or through irrigation, which can mask geochemical surveys intended to detect landfill leachate. Examples of effects of low topographic relief are noted in southeast Florida where water-table gradients are 7×10^?-⁴ to 5×10^?-⁴ feet per foot. Water-table mounding beneath the landfill and the drainage effects of nearby ditches and well have created multiple leachate plumes in Stuart where one plume migrated in a direction opposite to the apparent regional gradient. In Coral Springs analysis suggests a bifurcating plume migrating along two narrow zones. In Fort Pierce it was difficult to detect leachate because of mineralized irrigation water and fertilizer runoff from an adjacent citrus grove.     

FINANCING ABATEMENT OF MINE DRAINAGE POLLUTION: CASE STUDY APPALACHIA1

ABSTRACT A financing program for the prevention, control, and abatement of mine drainage pollution was developed using Appalachia as a case example. The financing program was selected by using three performance criteria in a screening process-applicability of financing program to pollution problem, feasibility of program to unit costs and capturing potential benefits, and feasibility of program to economic and legal consideration. Effluent charges with some modifications are suggested as the appropriate financing mechanism.