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Motorola was totally eliminated when the consortium learned that Craig McCaw was replacing the system in New York City with Ericsson equipment due to continuing technical problems with Motorola In the end, Ericsson became the primary supplier due largely to customer references from McCaw in the US, Televerket in Sweden, and several South American companies Siemens won a 25% portion of the contract with its partners Both signed up for the penalties but without any liability for the others failure to perform Looking back, this probably kept both companies from working together to reduce problems for us, and we were later to nd out that Deutsche Telekom had explicitly ordered Siemens not to partner with Ericsson over a year earlier This cost Siemens dearly when they had trouble meeting standards a year later as their equipment was removed from the network and replaced with Ericsson base stations..



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The image looks okay in black and white, but I prefer the sepia look for an old image like this. Click the Tint box in the Black & White dialog box to add a tint. Set the Hue to 32 and the Saturation to 18. (Feel free to change these settings if you prefer a different colored tint.) When everything looks good, click the OK button.





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Why is R also referred to as a financing rate Recall the discussion of the mechanics behind securities lending in 4 With such strategies (inclusive of repurchase agreements and reverse repos), securities are lent and borrowed at rates determined by the forces of supply and demand in their respective markets Accordingly, these rates are financing rates Moreover, they often are preferable to Treasury securities since the terms of securities lending strategies can be tailor-made to whatever the parties involved desire If the desired trading horizon is precisely 26 days, then the agreement is structured to last 26 days and there is no need to find a Treasury bill with exactly 26 days to maturity Are these types of financing rates also risk free The marketplace generally regards them as such since these transactions are collateralized (supported) by actual securities Refer again to 4 for a refresher.

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Let us now peel away a few more layers to the R onion When a financing strategy is used as with securities lending or repurchase agreements, the term of financing is obviously of interest Sometimes an investor knows exactly how long the financing is for, and sometimes it is ambiguous Open financing means that the financing will continue to be rolled over on a daily basis until the investor closes the trade Accordingly, it is possible that each day s value for R will be different from the previous day s value Term financing means that financing is for a set period of time (and may or may not be rolled over) In this case, R s value is set at the time of trade and remains constant over the agreed-on period of time In some instances, an investor.

Metal halide lamps, which have a spectral output similar to mercury, are becoming popular because they are bright (150 W), have a long bulb life (1000 hr), and have a large electrode gap (5 mm). Nikon Corporation promoted their use in combination with a liquid fiber bundle for delivering bright, homogeneous illumination for video microscopy.

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You can deal with negative externalities in three ways: Pass laws banning or restricting activities that generate negative externalities. For example, most cities now forbid you to dispose of your rubbish by burning it. Pass laws that directly target the negative externality itself (rather than the underlying activity that leads to the externality). For example, steel mills are now required to install scrubbers that filter out most of the pollution before it goes into the atmosphere. Impose costs, such as taxes, on people or firms generating negative externalities. For example, the Mayor of London is considering a pollution surcharge on SUVs. The last of these three solutions is appealing to economists because this solution is most likely to lead to the production of the socially optimal output level. Look back at Figure 14-2 to see why economists like pollution taxes. Recall that XC is the external cost of the steel mill s pollution on others. If the

where there are n sectors, pA (pB) is the average default probability of obligor A (B), wAk (wBk) is the weight of obligor A (B) in sector k, and pk and k are the average default probability and volatility (standard deviation) of the default probability, respectively, in sector k: pk =

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Utilized pursuant to relatively serious offenses, Action Plan Orders enable early intervention in order to prevent future, similar behavior. They are of three-month duration. Before issuing an Action Plan Order, the courts will consider a written report prepared by a YOT member (Act 1998, ss. 69 and 70; Home Of ce, 2000). By such means, offenders may be required to do any or all of the following:

def str (self): s = "%s, " % self. notification date s += "%s, " % self. exercise date if self. fee <> None: s += "%f, " % self. fee s += "%s, " % self. fee ccy return s

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