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Reader Profile Add to Favourite. Call Busy. Ease your mind. Neptune represents the universal ocean of oneness with all beings.
Yearly Love Horoscopes
It is thus highly compassionate, also idealistic, imaginative and self login or even self undoing, and can be associated with drugs or media, as fantasy expressions. Neptune rules Pisces, and finds its exaltation in Cancer. Its position indicates where there may be confusion and also great creativity in poetic or musical fields. Neptune has been called the higher octave of Venus.
More about Neptune Pluto is a force for change that can be destructive in its power. Pluto rules Scorpio, and is exalted in Leo. Pluto is related to will, and intense passion, and has a reputation for ruthlessness. As god of the underworld Pluto brings the deepest compulsions into the light. Its position indicates areas of life that must ultimately become transformed as part of the soul's evolution.
More about Pluto Chiron is a small planet, or 'planetoid' that was only discovered in , and which has already shown itself to be quite powerful in an individual's chart. Occupying an eccentric orbit between Saturn and Uranus, and named for the centaur physician of Greek myth who taught ancient wisdom to mankind, Chiron represents the archetype of the "Wounded Healer" and is associated with shamanism and going within to heal oneself.
Its discovery is synchronous with the rise of the holistic health movement. Chiron's position in the chart reveals where one has been wounded, and where also there is the opportunity for discovering healing from within and sharing this discovery with other people, since from our wounds arises our compassion for the suffering of others. The position of Chiron, by house and sign, can also show where we have talent and access to ancient wisdom, as well as where we may depart from the mainstream in service to a higher practicality.
Those with prominent Chiron are likely to be educators and spiritual healers. More about Chiron As goddess of the harvest and the natural process of fertility and renewal, Ceres represents the process of nurturing and motherhood in an individual chart, and has been attributed to the sign Cancer as a co-ruler with the Moon, as well as to the signs of Taurus, Scorpio and Virgo. More about Ceres The astrology of the asteroid Pallas indicates the creative use of the mental faculty in combination with ageless wisdom, and is also involved with the arts, especially the plastic arts such as sculpture and pottery, and with medicinal remedies.
More about Pallas The astrology of Juno indicates partnering energy of intimate relationships, as in the more modern issues of where the boundaries are with another person, how much sharing is appropriate, versus holding back, are there issues of bitterness and jealousy, or projected authority and control onto another person, and intimacy needs in general. More about Juno In the astrology of Vesta issues of sexuality and completeness unto oneself predominate. Possible associations are the woman or man who chooses celibacy, but as a nun or monk takes on a higher purpose than normal family life, also issues of sexuality and who is ultimately served in the process, self or other.
More about Vesta While the lower expression of Eris might manifest as the lust for struggle and violence, there is also a more positive manifestation in the most basic defense of one's rights in standing up to established power, by violence if necessary. By recognizing and coming to terms with this potentially violent factor in ourselves we can grow as humans and become more whole. The astrology of Haumea seems to be related to love of the natural world and to the fecundity of natural process.
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This archetype thus signals profound connection to Nature, connection to Source, and a form of natural charisma. More about Haumea The astrology of Makemake is related to love of the natural world and to the activism associated with defending the environment. This archetype thus signals a profound connection to nature that is quite similar to the archetype of Haumea, his fellow traveler in the Kuiper Belt, with the same astronomical designation and also named from the pantheon of indigenous gods and goddesses.
More about Makemake The Part of Fortune from the Latin Pars Fortuna is the only Arabian astrology part still commonly used in modern astrology. It indicates an area of life that is a fortunate one for the native. The house in which the Part of Fortune is placed indicates an area of your life which is likely to be a successful one for you; an area where the applications of your skill will bear fruit.
Its is where you will find good luck and happiness. More about the Planetary Bodies The Nodes of the Moon indicate areas of life that are of special concern to you. Also referred to as the dragon's head, The North Node indicates your goals. The placement of the North Node indicates work that needs to be done in your life, or new faculties that need to be developed in the present lifetime.
Also known as the dragon's tail, the South Node indicates areas of mastery, often from a previous lifetime. Aries people tend to be energetic, forceful and outgoing. They are good at getting things done, although they prefer starting to finishing. Like the energy of the first rush of spring, they move into the world in a headstrong, pioneering way. Aries people are likely to rush into things before reflecting, and may also be impatient or unwilling to sit back and allow events to mature.
Your Sagittarius Monthly Horoscope
More about Aries Taureans revel in the pleasures of life. They crave the security and comfort of relaxing in the warmth of their home environment. They value the senses and the enjoyment of material things. Taureans are likely to work hard to make their home an attractive one. They also have the makings of a healer and have a large capacity for kindness.
More about Taurus Gemini is the sign associated with communication, logical thought processes based on duality and the conscious mind. Gemini people tend to be airy and intellectual, glib of tongue and curious about life and other people. They can experience two sides of things at the same time, and may tend to be flighty. More about Gemini Cancerians are nurturing and protective of others. Their ruling planet is the Moon, and they tend to be moody, with constantly changing emotions.
Cancerians are also likely to be security-conscious and highly value their home life. They may appear passive, and tend to rely on their feelings to make decisions.
They are subtle, rather than direct, and are likely to reflect the moods of those around them. More about Cancer Leos are likely to express themselves in dramatic, creative and assertive ways. They are also likely to enjoy the warmth of the physical Sun.


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Opened in December 2007 as part of the Kunstsammlungen galleries in Chemnitz, Gunzenhauser Museum is one of the most important private collections of art that is permanently open to the public.
The museum houses the collection of Munich art dealer Alfred Gunzenhauser who amassed almost 2,500 works by 270 different artists over a period of many years. Holdings include almost 300 works by Otto Dix and Germany's second-largest collection of works by Karl Schmidt-Rottluff, the famous Expressionist from Chemnitz and co-founder of the group of artists known as Die Brücke.
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With the weak economic recovery lagging through its fourth continuous year, it's sensible to start looking for clues, however so slight, of the possibility of oncoming recession.
First, let's remember that while the NBER makes the official call of both the "peak" of a business cycle expansion and the "trough" of the subsequent recession, their officiating is delayed to say the least.
For a more "real time" assessment of the prospects of recession, various methods of number crunching have been formulated to distill out a basic probability assessment from several underlying macro series data sets.
One popular statistical method is the yield-curve based "Term Spread" probability method.
Spearheaded by economist Professor Arturo Estrella of the Rensselaer Polytechnic Institute, this method derives a probability of recession from the spread between long and short yields (10-year and 3-month) and is by all accounts the standard for recession probability forecasting.
The latest data indicates that the probability for recession is remains elevated with a January 2014 probability (the probability that there will be a recession by that date) of 4.4%.
Keep in mind that a positive indication using this method would require this probability to reach 30% so while the probability is clearly rising, the current probability is still quite low.


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Kansas City (both sides of state line) spends a lot of time and money trying to fix the problem of subpar drainage in certain parts of town.
I'm just guessing, but I'd imagine almost all of this sand will end up clogging storm drains with either the first heavy rain or a pass of a street sweeper.
Friday, December 26, 2008
I think I see the problem...
Kansas City (both sides of state line) spends a lot of time and money trying to fix the problem of subpar drainage in certain parts of town.
3 comments:
Great picture! How did you get it while riding? I noticed your spokes are blurry, so I'm really curious.
- December 27, 2008 8:00 AM
- Noah said...
I held my camera down by my water bottle. So it really wasn't any harder than grabbing my water bottle. I will be honest, though: It was very crooked. I rotated it to be somewhat level and cropped it, which is why it seems like it's so far forward, closer to my front axle.
- December 27, 2008 10:31 AM
- Noah said...
I also just noticed that the photo in this post was from KCK, and the flooding example I linked to was in KCMO. Both use too much sand, and both have drainage problems on Southwest Boulevard.
- December 27, 2008 10:33 AM
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On Friday, regulators on both sides of the Atlantic approved the mergers of the Universal Music Group and EMI Recorded Music, the world's first and fourth largest such companies, respectively. Universal spent $1.98 billion to buy EMI. The Federal Trade Commission, in a unanimous vote, said it was closing the investigation into the deal "without taking any action," which effectively approves it. Had the deal been in place for 2011, the combined companies would have had six of the top 10 pop songs of that year.
In a statement, the European Commission said it was particularly concerned that the deal would "significantly worsen the licensing terms it offers to digital platforms that sell music to consumers."
"Competition in the music business is crucial to preserve choice, cultural diversity, and innovation," said Joaquín Almunia, Commission Vice-President in charge of competition policy, in the same statement.
European regulators, in approving the deal, required that Universal divest itself of some of its notable assets, including EMI France, EMI's classical labels, Chrysalis, Coop, and Parlophone label—home to Coldplay, Pink Floyd, Gorillaz and others. EMI, which is based in the United Kingdom, is also the rightsholder to the Beatles' hugely valuable catalog, which the new company will retain.
Fewer players = bad for consumers
However, some IP legal observers—comparing it to last year's proposed T-Mobile USA and AT&T merger that the Department of Justice shot down—remain worried that when the number of major players in any industry falls, that can only be bad for consumers.
"American consumers have really enjoyed the new digital music services," said Jodie Griffin, a staff attorney at Public Knowledge, in an interview with Ars. "And our concern now is that by holding such a big market share of recorded music, that the post-merger [Universal Music Group] will be able to dictate which services survive in the digital music market. And if you can't get the blessing of UMG, you can't launch, and ultimately that will hurt consumers."
She noted that EMI has been the "scrappy" player in the recording industry for years. Case in point: back in 2007, EMI became the first of the Big Four to halt the use of DRM on its digital music sales. The other three—Universal, Warner, and Sony—soon followed.
"That willingness to experiment puts pressure on the others to do the same," Griffin added, noting that with a combined market share of around 45 percent, the new Universal will have even less incentive to fully compete.
Gabriel Bluestone, a San Francisco business regulation attorney who has previously written publicly against this merger, told Ars the FTC "botched it pretty badly."
"The [European Commission] has found that the merger presents genuine antitrust issues, particularly as to digital distribution," he wrote in an e-mail. "The [EC] makes clear that those issues, although common to Europe and the US, are national or [European Economic Area]-wide and therefore not susceptible to a single 'global' remedy, and they are now resolved in Europe. To me, that underscored the need for the FTC to do at least as much to protect competition here in the US—especially since most of the digital innovation happens here."


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Google Maps has made a small change in the interface (thanks to ever observant LA Florist, Cathy Rulloda) removing the obvious links to toggle between Maps View (seen when entering via Maps link) and Text View (seen when entering via a Universal Local Result). The change, one of many since the August Blue Line role out, is one more step in simplifying the Maps interface and integrating the Maps and Business Listing views.
Screen shot from 3/23/09:
In the new view, one simply selects the expand or contract arrows to move from one view to the other.
Screen shot from 3/24/09:
Google Maps Interface Tweak by Mike Blumenthal


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Course Library
Browse our library of planning courses
Urban Agriculture
Urban farming is becoming more popular around the state of California, taking many forms along the way, as documented in this film produced by experts from the University of California and the Cal State University system in cooperation with local organizations.
Measuring Neighborhood Segregation and Diversity
This course reviews the various ways to measure both segregation and diversity at the neighborhood scale.
United States Census 2020: All About Census 2020
Learn all about the upcoming Census. This course provides an overview of planned operations and discusses the Census schedule, process, products, accuracy, publicity, and jobs.
United States Census 2020: Using FactFinder and the American Community Survey
Learn how to use Census.gov and American FactFinder websites, which are the principal portals to Census Bureau data products and maps.
United States Census 2020: Introduction
This course covers basic Census Bureau geography and Census-taking concepts. It reviews the Census Bureau's mission and development of the nation's statistical and geographic "architecture" that is the basis of almost all general purpose used in government, academia, and the business world.
Tableau for Planners: Introduction
This course will introduce general principles of data visualization and orient the user with the Tableau platform. Learn how to connect to a data set in Microsoft Excel, understand general principles of a relational database, and start building basic worksheets and dashboards.
Healthy Urban Food Systems: Planning Production Facilities
This course examines the role for planning in addressing various forms of urban agriculture as well as many examples from around the country of the statutes, policy, and practices implementing interventions in food production at urban scales.
Healthy Urban Food Systems: Planning Retail Facilities
This course introduces information from legal and public health perspectives on the retail side of food systems entities, such as farmers markets, grocery stores, and mobile vending.
Working with Census.gov 1: Background and Geography
This first of four courses on the Census -- Background and Geography -- will prime you to understand how the Census works, where the data comes from, as well as vital terminology and data sets you should be familiar with in the built environment.
Working with Census.gov 2: Topics, Programs, Products
This second of four courses delves deeper into the Census 'architecture'. In course 2 of "Working with Census.gov", Dr. Chris Williamson, a.k.a. Dr. Data, provides an overview on the federally mandated topics that lead to programs which ultimately produce products for the public. Course 2 also delves into such tricky topics as Census data table analysis and gives insider tips and goodies from a Census Bureau veteran.
Working with Census.gov 3: Interacting with the Data
This third of four courses takes you into a series of live demonstrations and in-depth explanations and visuals from the Census.gov and American FactFiner websites. The course covers a comprehensive navigation of the pages, tools and interactive databases that form the expansive Census website and publicly accessible data stores and produced information.
Working with Census.gov 4: Quality, Interpreting and Examples
Chris Williamson, A.K.A. "Dr. Data" completes the final episode in this four course series on the 'architecture' and 'analysis' of the Census Bureau and its many products. In course 4 students will go through a brief introduction to margin of error and a range of error and data quality analysis. Along with some examples and case studies, this course takes us into Dr. Data's own Ventura County, California for a look at some of the more challenging sampling and non-sampling errors many planners and demographers must wrestle with.


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PONTIAC, Mich. – An ex-convict charged with murder in the home invasion and knife-slaying of an 80-year-old Royal Oak woman has been found guilty.
A jury on Thursday convicted Alan Wood, 49, of first-degree murder in the death of Nancy Dailey.
Dailey was found beaten Nov. 20, 2011 in her home on Trafford. Her throat had been slit.
Wood was also charged with stealing from her home and using her bank cards.
He will be sentenced Feb. 15.
--Nancy Dailey
Co-defendant Tonia Watson pleaded guilty last month to second-degree murder and agreed to testify against Wood.
Suspects befriend victim
The prosecution says Wood and Watson needed drug money so they went into Dailey's neighborhood looking for odd jobs on Nov. 6, 2011.
Dailey let them rake leaves for her.
Prosecution say suspects returned with a plan
The prosecution argued that Wood and Watson became even more desperate for drug money that they returned on the evening of Nov. 20, 2011, to Dailey's house. But this time, the prosecution says, Watson knocked on the front door as a distraction while Wood went around to the back to break in.
Once inside, the prosecution says the suspects lead Dailey around her home, stealing things as they went until Dailey said she needed to use the bathroom. When Dailey tried to shut the bathroom door, the prosecution says Wood grabbed Dailey by her hair, dragged her to a bedroom, tied her up with a blue scarf and beat her. He later slit her throat and stabbed her one more time in the neck.
The two are caught on camera using Dailey's bank cards at several locations.
Cousin of victim testifies
Leah Storto, Dailey's cousin, told the court the two grew up together and had stayed close through the years.
"Nancy was a wonderful person. She was very loving and kind," she said.
Storto said she last talked to Nancy just after 5 p.m. on Nov. 20, 2011. She tried calling back about an hour later, but got no answer.
After several unanswered phone calls, Storto said she went over to Dailey's home. When she couldn't get in, she asked a man, who she called Steve the neighbor, to help get her in.
Once inside, Storto said she saw Dailey lying on the floor between the bedroom and hallway.
"I noticed that her face was covered and dripping with blood," she said.


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Prime Number Theorem
The Prime Number Theorem is one of the most famous theorems in mathematics. It states that the number of primes not exceeding n is asymptotic to , where log(n) is the logarithm of (n) to the base e.
- .
The number of primes not exceeding n is commonly written as , the prime counting function. An asymptotic relationship between a(n) and b(n) is commonly designated as a(n)~b(n). (This does not mean that a(n)-b(n) is small as n increases. It means the ratio of a(n) to b(n) approaches one as n increases.)
The Prime Number Theorem thus states that ~ . That is, as n tends to infinity, the relative error between and tends to zero. This can be expressed using limit notation as
In other words, the limit (as n approaches infinity) of the ratio of pi(n) to n/log(n) is one. Put a third way, is a good approximation for .
Equivalent Statements
Carl Friedrich Gauss conjectured the equivalent statement that was asymptotic to defined as:
In fact, for large x this turns out to be a better approximation than . The size of the error is closely related to the behavior of the Riemann Zeta function
History of the Theorem
The theorem was first conjectured by Legendre and Gauss (independently) circa 1796. In 1848 and 1850, Chebyshev made significant progress towards proving the theorem using the Riemann zeta function and other non-elementary techniques. His non-elementary proof was completed in 1896 by Hadamard and Charles de la Vallee-Poussin.
The grand culmination of these efforts occurred in 1949 and 1950 when Paul Erdos and Atle Selberg presented an elementary proof of the theorem. This proof earned Selberg the highest prize in math, the Fields Medal.


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Homeasy wants to help you sell your home in Chester and to do it as quickly and cost-effectively as possible. So if you are looking for Chester estate agent, that has the right customer-focused approach allied to the quality and service you'd demand, then you've just found it.
To really understand the Homeasy approach and for us to outline how we can help, then this is always best done face to face. So why not get in touch to arrange a free valuation using the form on this page. It's a free, no-obligation service and we can fit it around your busy day.
Or you can simply give our local agent Martin a call on 01244 478150 and arrange it with him or just call him for a chat and discuss your property and your plans.
"I understand that the majority of house sellers are busy working throughout the day. This is why I'm available past the normal 9-5, so you can contact me when it suits you"
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Posts Tagged 'slave'
On the Civil War's Last Veterans, Wives, and Stats
While in search of documentation for Civil War statistics, I discover the Fact Sheet: American Wars published in November 0f 2007 by the United States Department of Veterans Affairs. It provides the following:
It lists the last Union veteran as Albert Woolson (right) who died August 2 1956 at age 109. He was a member of Company C of the First Minnesota Heavy Artillery Regiment but never saw action. A brief biography is available here.
The last Confederate Veteran, John Salling, died March 16, 1958, at age 112. Some references, including one available here, suggests that he may have been an imposter.
And the last Union widow, Gertrude Janeway, died January 17, 2003, age 93. Mrs. Janeway death was covered in the January 21, 2003 issue of New York Times here. In brief, she was married to Union veteran John Janeway at age 16. He was 81. They made their home in a three room log cabin in Blaine, Tennessee. He died there at age 91 in 1937. She died in the same home. Mr. Janeway fought for the 11th Illinois Calvary under the name January. A photo of Mr. and Mrs. Janeway shortly after their wedding and of Mrs. Janeway in 1998 available here.
The last Confederate widow was Mrs. Alberta S. (Stewart) Martin who died in May 31, 2004. A site dedicated to Mrs. Martin including photos is available here. She was married to veteran Willaim Jasper Martin when she was 21 and he was 81.
A transcript of a 1998 interview with Mrs. Martin is available on radiodiaries.org here. Host Robert Siegel also interviews Daisy (Graham) Anderson who was, at the time, also one of the last know Union widows. Mrs. Anderson was married in 1922 at age 21 to Robert Anderson, then age 79, who was an escaped slave who joined the Union Army and served in the 125th Colored Infantry near the war's end and in the Indian campaigns. He was a successful homesteader in Nebraska. Their story is available in the New York Times article about her death here. A article about Mr. Anderson's fascinating life, titled "The Odyssey of an Ex-Slave: Robert Ball Anderson's Pursuit of the American Dream," by Darold D. Waxm is available through JSTOR here.
Civil War (1861-1865)
Total U.S. Servicemembers (Union)…………..2,213,363
Battle Deaths (Union)………………………………140,414
Other Deaths (In Theater) (Union)………………..224,097
Non-mortal Woundings (Union)…………………..281,881
Total Servicemembers (Conf.) (note 2) ………..1,050,000
Battle Deaths (Confederate) (note 3) ………………74,524
Other Deaths (In Theater) (Confed.) (note 3, 4)……59,297
Non-mortal Woundings (Confed.) ……………..Unknown
2. Exact number is unknown. Posted figure is median of estimated
range from 600,000 – 1,500,000.
3. Death figures are based on incomplete returns.
4. Does not include 26,000 to 31,000 who died in Union prisons.


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325 Posts
Discussion Starter • #1 •
I'm in the very preliminary planning of my trip for this summer. I will be riding from Beaverton. Oregon and going to the BMOA rally in PA and continuing on to the Atlantic coast and returning to the Pacific coast. I plan on leaving some time after July 4 and need to be back in Oregon by August 7th. The return trip may be direct as the time frame between the rally end and the "must be back" date is a bit tight. I am looking for others that may want to ride along and I am looking for suggestions of routing and must do/see things along the way. I will turn 60 this year and hope to camp most the time if my physical condition allows! I'm not adverse to staying in a hotel/motel if the weather really sucks. Any and all suggestions will be graciously accepted!
looking forward to a lot of info!
looking forward to a lot of info!


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Related Suppliers
Lightweighting, cost reduction, and new approaches to automotive manufacturing—those are ample cause for the growing excitement over the emerging technology of thermoplastic composites in the European and American auto industry. Get the inside story on this fast-changing field from leaders in developing the technology at the first-ever "Thermoplastic Composites for Automotive" conference, organized jointly by the editors of Plastics Technology magazine, CompositesWorld, and Automotive Design and Production. This event will take place June 10-11 in Novi, Mich., concurrently with the amerimold trade show and conference.
Over a day and a half, we'll present at least 16 speakers from companies such as KraussMaffei, Engel, BASF, Lanxess, TenCate, Solvay, Celanese, RTP, Aeonix, RocTool, Autodesk Moldflow, and Fibertec—and the list is growing. They will discuss continuous-fiber tapes and organosheets, chopped long-fiber compounds, and processes such as injection overmolding, direct long-fiber thermoplastic (DLFT) molding, in-situ reactive molding, foam-core sandwich molding, and induction mold heating, and computer simulation. A lunchtime speaker from the auto industry will preview the directions in which car companies hope to take these technologies.
And while you're there, you'll have plenty of opportunity to look over the amerimold show, with close to 100 exhibits by moldmakers and suppliers of mold components, hot runners, tooling materials, and rapid-prototyping (additive manufacturing) systems.
Learn more about "Thermoplastic Composites for Automotive" here and about amerimold here.
And stay tuned for more news about this first-of-its-kind event.


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March 28, 2018
Windermere Foundation by the Numbers
Posted in Windermere Foundation by Christine Wood
In 2017, the Windermere Foundation raised over $2.4 million in donations, bringing the total to over $35 million raised since we started this effort in 1989. The infographic shows how donation dollars are put to use. The largest share (33 percent) supported Youth and Child Programs to fund things such as programs for underprivileged students, and resources for children in crisis.
Read More >
March 26, 2018
How Tax Reform Affects Homeowners
Posted in Buying, Selling, and Market News by Sonja Riveland
New tax legislation was signed into law at the end of 2017, and it included some significant changes for homeowners. These changes took effect in 2018 and do not influence your 2017 taxes. Here's a brief overview of this year's tax changes and how they may affect you*.
Read More >
March 19, 2018
12 Tips for Making Your Bedroom Cozier
Posted in Living by Kenady Swan
At the end of a long day, your bedroom should be a sanctuary of comfort that welcomes you in. But, as a room that guests rarely see and in which homeowners spend most of their time with their eyes closed, its upkeep frequently gets pushed to the bottom of the to-do list. Thankfully, there are some little design tricks that can make a big difference.
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March 14, 2018
Homeowners Insurance: Protecting Your Home
Posted in Buying by Kenady Swan
In addition to providing shelter and comfort, our home is often our single greatest asset. And it's important that we protect that precious investment. Most homeowners realize the importance of homeowners insurance in safeguarding the value of a home. However, what they may not know is that about two-thirds of all homeowners are under-insured.
Read More >
March 12, 2018
A Home Addition: What to Consider Before Starting to Build
Posted in Selling, Living, and Architecture by Kenady Swan
Adding on to your current home may be your best bet if you're short on space, but you don't want to move or can't find another house in the area with all the qualities you're seeking. It's also an attractive option if the house you have is lacking just one significant element (a family room, another bedroom, a larger kitchen, a separate apartment, etc.).
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March 07, 2018
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Posted in Buying and Living by Zacarias Dumas
In recent years there has been a lot written about millennial's and their impact on the housing market. Because of this there are also a lot of misconceptions about what this generation wants from a home. To start, it's important to know that there are more than 71 millennial's, which are defined as those aged 22-37.
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March 02, 2018
Windermere and Zillow Economists Come Together To Discuss Housing
Posted in Luxury and Market News by Zacarias Dumas
Earlier this week, nearly 200 Windermere brokers came together at Windermere's monthly luxury breakfast at Overlake Golf Club in Medina, WA. The featured speakers were Windermere Chief Economist, Matthew Gardner, and Zillow Senior Economist, Skylar Olsen.
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Socially Responsible Corporations with Heavy PAC Contributors Associated with Higher Stock Returns
Companies that tout social responsibility and whose managers contribute to political action committees tend to provide higher returns to shareholders, suggests a new University of California, Davis, study.
"Especially for smaller public companies, if the firm has been active in disclosing corporate social responsibility measures and if the individuals in the company are politically active, there's a good chance you will do better in the stock market if you invest in that company," said Paul Griffin, a leading international authority in accounting and corporate disclosure and a professor at the UC Davis Graduate School of Management.
Griffin and co-author Yuan Sun, a doctoral candidate at the Haas School, UC Berkeley, analyzed extensive data on voluntary corporate social responsibility disclosures, campaign contributions and stock performance. Their findings are published in the working paper, "Strange Bedfellows? Voluntary CSR Disclosure and Politics."
The researchers also found that companies were more likely to make social responsibility disclosures if they were headquartered in a so-called "blue state," or one that traditionally has voted Democratic in national elections.
"We hypothesized that if a state where a corporation is located is blue, on balance, the customers, the suppliers, and even the shareholders have that same tendency to be blue," Griffin said.
Griffin and Sun determined that companies that issue more press releases on CSRwire, an online news service that publishes reports issued by member organizations on issues related to sustainability and corporate social responsibility tend to have more management employees who contribute to political action committees. The correlation was strongest with individuals who donated to political action committees affiliated with the Democratic Party.
Additionally, the stock market reacted favorably when corporations posted news releases on the CSRwire. The market effect intensified if company managers also made contributions to political action committees.
"The effects on stock values of CSRwire releases are immediate and can continue for up to three months after the disclosure," Griffin said.
Griffin cautioned that while the correlations are strong, researchers need to look more closely at the underlying pathways whereby CSR disclosure and political contributions combine to produce shareholder gains.
To measure companies' social responsibility, the researchers studied more than 14,500 news releases posted between 2000 and 2011 by CSRwire. Griffin and Sun identified 4,781 releases that were issued by major, publicly traded U.S. companies.
The researchers also compiled Federal Election Commission data on individual contributions to political action committees for the same 11 years. The commission's data lists the names, employers and job titles of individuals who donate to committees, as well as the political party affiliation of the committees.
Stock performance was measured by compiling stock movements of firms listed in a large database that includes stock prices of publicly traded firms.
Click to download the full study.
About the Graduate School of Management
Dedicated to preparing innovative leaders for global impact, the UC Davis Graduate School of Management is consistently ranked among the premier business schools in the United States and internationally. The school's faculty members are globally renowned for their teaching excellence and research in advancing management thinking. Each year, the school provides a bold, innovative approach to management education to about 100 full-time MBA students at the UC Davis campus and 425 part-time MBA students in Sacramento and the San Francisco Bay Area. A Master of Professional Accountancy degree program launched in fall 2012.
About UC Davis
For more than 100 years, UC Davis has engaged in teaching, research and public service that matter to California and transform the world. Located close to the state capital, UC Davis has more than 32,000 students, more than 2,500 faculty and more than 21,000 staff, an annual research budget that exceeds $684 million, a comprehensive health system and 13 specialized research centers. The university offers interdisciplinary graduate study and more than 100 undergraduate majors in four colleges — Agricultural and Environmental Sciences, Biological Sciences, Engineering, and Letters and Science. It also houses six professional schools — Education, Law, Management, Medicine, Veterinary Medicine and the Betty Irene Moore School of Nursing.
Media contact(s):
- Tim Akin, UC Davis Graduate School of Management, (916) 402-9270, firstname.lastname@example.com@ucdavis.edu
- Paul Griffin, UC Davis Graduate School of Management, (530) 752-7372, firstname.lastname@example.com
- Karen Nikos, UC Davis News Service, (530) 752-6101, firstname.lastname@example.com