A horizontal merger in the iron ore industry: An event study approach

The purpose of this paper is to analyse the competitive and efficiency impacts of a large merger in the world iron ore industry, using an event study approach. This method builds on an analysis of stock market reactions of the merging firms as well as close rivals at the time of the merger announcement. The event study method allows for the possibility to assess both the motivations behind as well as the welfare effects of the merger. The event study results for the merger announcement of Rio Tinto and North Ltd. show that, according to the market reactions, the main motive behind the merger was either the market power or the efficiency hypothesis. When adjusting the analysis to include several information releases about the merger, the overall result indicates that efficiency improvements were the predominant motives behind the merger. Thus, the event study results suggest that there are positive welfare effects to expect and the European Commission's decision to allow the merger is supported.     

Media and bushfires: A community perspective of the media during the Grampians Fires 2006

This paper examines the ways residents in the Grampians area in the Australian state of Victoria used their local and their state and national based media before, during and after the 2006 bushfires (wildfires). The researchers were particularly concerned to understand how residents evaluated media sources as trustworthy and credible in relation to bushfire warnings and information about the fires delivered in the media.Analysis of data derived from two separate focus group sessions conducted by the researchers reveals four main themes. (1) The media are perceived as part of a broader information gathering process. (2) Local knowledge is the most important aspect in broadcast information. (3) Members of small communities can feel disenfranchised and resentful of the media when media coverage focuses on larger towns, and (4) the effects of media reporting, including specific warnings, are both immediate and long lasting.The paper explores some of the tensions that result from the ways rural residents use and distinguish between local/regional and metropolitan and out-of-state bushfire information; and it encourages better use of the local/regional media to increase community safety and awareness in relation to bushfire mitigation, preparedness and crisis management issues before, during and after the fires. It is suggested that risk communications professionals need to understand that when mediated risk-related communications are provided, a key evaluative criterion is whether or not those media and the messages represent and reflect local knowledge.     

Ozone Deposition to a Coniferous and Deciduous Forest in the Czech Republic

Estimates of ozone concentration and deposition flux to coniferous and deciduous forest in the Czech Republic on a 1 × 1 km grid during growing season (April–September) of the year 2001 are presented. Ozone deposition flux was derived from ozone concentrations in the atmosphere and from its deposition velocities. To quantify the spatial pattern in surface concentrations at 1 km resolution incorporating topography, empirical methods are used. The procedure maps ozone concentrations from the period of the day when measurements are representative for the forest areas of countryside. The effects of boundary layer stability are quantified using the observed relationship between the diurnal variability of surface ozone concentration and altitude. Ozone deposition velocities were calculated according to a multiple resistance model incorporating aerodynamic resistance (R _a ), laminar layer resistance (R _b ) and surface resistance (R _c ). Surface resistance (R _c ) comprises stomatal resistance (R _sto ). R _sto was calculated with respect to global radiation, surface air temperature and land cover. Modelled total and stomatal ozone fluxes are compared with the maps describing equivalent values of AOT40 (accumulated exposure over threshold of 40 ppb). For forests, the critical level (9,000 ppbh May–July daylight hours) is exceeded over 50% of forested territory. This indicates the potential for effects on large areas of forest. There is significiant correspondence between the exposure index AOT40 and the total ozone flux, but the relation between the total ozone flux and AOT40 exposure index is not clear in all parts of the forest territory.     

Carbonization of johkasou sludge using batch-type equipment

The carbonization of dehydrated johkasou sludge was examined using batch-type equipment. Based on the temperature changes in the carbonization room and the gas combustion room, the carbonization process was divided into three phases: phase I, drying the sludge; phase II, thermal decomposition of the dried sludge; phase III, after phase II. The times required for phases I and II were strongly correlated with the amounts of water and solid matter, respectively, in dehydrated sludge. The reduction rate of the sludge on completion of phase I was about 90% on average, and the decomposition rate of solid matter increased with time during phase II or phase II plus phase III until it reached about 50%. TOC concentration of the eluate from the carbonized sludge was used as an index to evaluate the progress of the carbonization process, and the highest temperature in the carbonization room was recognized as an important operational factor. The specific surface area and pore volume of carbonized sludge were smaller than those of charcoals and activated carbons by 1–3 orders of magnitude and 1–2 orders of magnitude, respectively. No elution of heavy metals was observed from any of the carbonized sludges examined. The reduced amount of carbon in dehydrated johkasou sludge was estimated to be about 25% of the decomposed organic matter.     

民勤地区大震、古地理和沙尘暴的关系

民勤地区是中国沙尘暴发生年频次最高的地区。本文讨论了干旱、地震、古湖泊和风线对民勤地区沙尘暴形成所产生的综合作用。强地震破坏了土壤颗粒的团聚性,古湖泊环境提供了沙土混杂的地表层,风线决定了沙尘暴的飞扬和运移。     

WATER QUALITY IN AGRICULTURAL,URBAN, AND MIXED LAND USE WATERSHEDS1

ABSTRACT: Water quality and nonpoint source (NPS) pollution are important issues in many areas of the world, including the Inner Bluegrass Region of Kentucky where urban development is changing formerly rural watersheds into urban and mixed use watersheds. In watersheds where land use is mixed, the relative contributions of NPS pollution from rural and urban land uses can be difficult to separate. To better understand NPS pollution sources in mixed use watersheds, surface water samples were taken at three sites that varied in land use to examine the effect of land use on water quality. Within the group of three watersheds, one was predominately agriculture (Agricultural), one was predominately urban (Urban), and a third had relatively equal representation of both types of land uses (Mixed). Nitrogen (N), phosphorus (P), total suspended solids (TSS), turbidity, pH, temperature, and streamflow were measured for one year. Comparisons are made among watersheds for concentration and fluxes of water quality parameters. Nitrate and orthophosphate concentrations were found to be significantly higher in the Agricultural watershed. Total suspended solids, turbidity, temperature, and pH, were found to be generally higher in the Urban and Mixed watersheds. No differences were found for streamflow (per unit area), total phosphorus, and ammonium concentrations among watersheds. Fluxes of orthophosphate were greater in the Agricultural watershed that in the Urban watershed while fluxes of TSS were greater in the Mixed watershed when compared to the Agricultural watershed. Fluxes of nitrate, ammonium, and total phosphorus did not vary among watersheds. It is apparent from the data that Agricultural land uses are generally a greater source of nutrients than the Urban land uses while Urban land uses are generally a greater source of suspended sediment.     

Removal and recycling of copper from aqueous solutions using treated Indian barks

Removal of copper from aqueous solutions containing 100–1000 ppm, using different Indian bark species, was performed on laboratory scale. The percentage removal of metal ions depends on the solution pH, bark species and time. The efficiency of copper removal by the used raw barks increases with a rise of solution pH and reaches a maximum of about 65–78% around pH 4–5. However, the decontaminated aqueous solutions were colored due to the dissolution of soluble organic compounds contained in the raw bark. This increases the biological and chemical oxygen demand (BOD and COD) of the solutions as well as the total organic carbon content (TOC). For this reason, raw bark should be treated either by chemical or biological means. Such treatment will allow the extraction of the soluble organic compounds and increase the chelating capacity and efficiency of the treated bark. Depending on the pH value, the chelating efficiency of treated barks is about 1.2–2.2 times that of the raw ones. Moreover, the retention capacity of the Indian treated bark varies from about 42–51 mg/g of dry bark. It is equal to or higher than that of common European species. About 1.8 mols of H₃O⁺ are released, by the treated barks, for every mol of chelated copper ions. Moreover, scanning electron microscopy (SEM) observations show uniform distribution of metal ions throughout the copper saturated bark. Infra red (IR) spectra suggest that the copper ions are chelated to hydroxyl and/or carboxyl functional groups of organic compounds contained in the treated bark. It seems that the interaction of the copper ions with the bark follows a cation exchange mechanism. This hypothesis is supported by elution experiments that allow recovery of about 99% of the contained copper. The retention capacity of the treated bark is almost constant after five cycles of chelation–elution, suggesting that the ‘life time cycle' is sufficiently long for continuous industrial application. The spent copper loaded barks can either be incinerated or pyrolysed. It generates solids containing either ≈80% of CuO or ≈14% of Cu°, respectively. Such materials can be used either in the secondary or primary copper production, thus offering a friendly environmental solution of effluents' treatment. The suggested process can be used as an alternative to the classical technologies for effluent decontamination. It is also efficient for polishing effluents treated by other methods.     

Amenity Values of Public and Private Forests: Examining the Value–Attitude Relationship

Public values toward forests have changed since the late 1980s, from a commodity-oriented perspective toward a more inclusive (commodity and non-commodity) orientation. This study examines the influence of four indicators of population diversity (age, ethnic background, place of residence, and gender) on amenity values of forests, environmental attitudes, and forest value—attitude correspondence. Four values of public and private forests were assessed, wood production (utilitarian value), clean air (a life support value), scenic beauty (an aesthetic value), and heritage (a spiritual value). Environmental attitudes were measured using a modified version of the New Environmental Paradigm scale. Five hundred and forty-eight randomly selected residents of households in 13 states of the Southern United States participated in a telephone interview. Age and ethnic background were found to moderate the value—attitude relationship, with the strength of the association being dependent upon the type of forest (i.e., public or private) and the forest value (i.e., utilitarian, life support, spiritual, and aesthetic). Females, younger persons (less than 43 years old), and whites reported lower utilitarian values of forests than their respective counterparts. Results are interpreted within the context of an emerging post-material society, in which a biocentric orientation to forests and the natural environment may be favored more by a younger (versus older) generation and increasingly racially diverse U.S. population. Implications for managing forests using a multiple-values (versus multiple-uses) approach are discussed.     

A Review of the Effects of Aircraft Noise on Wildlife and Humans,Current Control Mechanisms,and the Need for Further Study

Military and civilian aircraft overflights are an issue that may impact the quality of life for millions of United States residents. Aircraft noise annoys many people worldwide and is generally thought to adversely affect some wildlife species. In light of increasing demands being placed on airspace, and because of technological improvements in acoustical testing, there is a need to reexamine the effects of aircraft noise exposure on humans and wildlife. This paper reviews past research, current laws and legislation, and presents an argument for the need to revisit the effects of aircraft noise on humans and wildlife. Some evidence suggests that noise may adversely impact wildlife and humans, however, many of the past studies were inconclusive and based on relatively small sample sizes. Given that aircraft noise abatement legislation has been enacted and because of the recent promulgation of community-based noise awareness programs, future studies should be conducted to resolve public policy problems and debates associated with aircraft noise. The need to further study the effects of aircraft noise on humans and wildlife is critical for creating sustainable land use policies near aircraft installations. Data derived from these studies will be used to create sound public policies that enhance the operational capacity of military and civilian aircraft while reducing the opportunity for human and wildlife exposure to aircraft noise.