Sentences with phrase «economic impact on industries»

«I think at the end of the day that virtually all of the «trade war» effects will be negotiated away and the true economic impact on industries as well as specific companies will be very small, so I haven't factored the impact of any trade war considerations into my portfolio,» she said.

Not exact matches

Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.

Actual operational and financial results of SkyWest, SkyWest Airlines and ExpressJet will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of other reasons, including, in addition to those identified above: the challenges and costs of integrating operations and realizing anticipated synergies and other benefits from the acquisition of ExpressJet; the challenges of competing successfully in a highly competitive and rapidly changing industry; developments associated with fluctuations in the economy and the demand for air travel; the financial stability of SkyWest's major partners and any potential impact of their financial condition on the operations of SkyWest, SkyWest Airlines, or ExpressJet; fluctuations in flight schedules, which are determined by the major partners for whom SkyWest's operating airlines conduct flight operations; variations in market and economic conditions; significant aircraft lease and debt commitments; residual aircraft values and related impairment charges; labor relations and costs; the impact of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact of weather - related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors.

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

The group is still not naming which wineries have been impacted yet and says it's too early to estimate the economic impact of the fires on Napa's wine industry.

You can't always control what is happening in the industry at large and it's important to stay up - to - date on industry trends and economic impact.

This may seem contradictory, as the U.S. biopharmaceutical industry is the world's leader in drug research and has a total economic impact of $ 790 billion a year on the U.S. economy.

Readers are cautioned that these forward - looking statements are only predictions and may differ materially from actual future events or results due a variety of factors, including, among other things, that conditions to the closing of the transaction may not be satisfied, the potential impact on the business of Accompany due to the uncertainty about the acquisition, the retention of employees of Accompany and the ability of Cisco to successfully integrate Accompany and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10 - K and Form 10 - Q.

Total industry jobs cuts, it says, «could run into the thousands as firms assess the impact on their bottom lines of sweeping regulatory reform and a balky economic recovery.»

Of course, like all economic impact studies (they're a dime a dozen, cranked out regularly on behalf of companies and industries trying to puff up their importance) the Facebook report is so chock full of assumptions and «multiplier» effects as to be completely useless — except, that is, for the respective company's marketing department.

These risks include, in no particular order, the following: the trends toward more high - definition, on - demand and anytime, anywhere video will not continue to develop at its current pace or will expire; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the mix of products and services sold in various geographies and the effect it has on gross margins; delays or decreases in capital spending in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; the impact of general economic conditions on our sales and operations; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; losses of one or more key customers; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our CableOS ™ and VOS ™ product solutions; dependence on market acceptance of various types of broadband services, on the adoption of new broadband technologies and on broadband industry trends; inventory management; the lack of timely availability of parts or raw materials necessary to produce our products; the impact of increases in the prices of raw materials and oil; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business of natural disasters.

Technology continues to have profound impacts on society and industry and will continue to capture an increased portion of the total economic pie.

Achievement of these goals was considered by the HRC as very challenging, even aggressive, given the expected modest economic growth for 2007 for the financial services industry, the impact and duration of the on - going flat / inverted yield curve (meaning short - term interest rates that are virtually equal to or exceed long - term interest rates, thus lowering profit margins for financial services companies that borrow cash at short - term rates and lend at long - term rates), potentially higher credit losses, fewer available high - quality, high - yielding loans and investment opportunities, and a consumer shift from non-interest to interest - bearing deposits.

Such risks and uncertainties include, but are not limited to: our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships with physicians, hospitals and other health care providers; the impact of modifications to our operations and processes; our ability to identify potential strategic acquisitions or transactions and realize the expected benefits of such transactions, including with respect to the Merger; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; the outcome of litigation, regulatory audits, investigations, actions and / or guaranty fund assessments; uncertainties surrounding participation in government - sponsored programs such as Medicare; the effectiveness and security of our information technology and other business systems; unfavorable industry, economic or political conditions, including foreign currency movements; acts of war, terrorism, natural disasters or pandemics; our ability to obtain shareholder or regulatory approvals required for the Merger or the requirement to accept conditions that could reduce the anticipated benefits of the Merger as a condition to obtaining regulatory approvals; a longer time than anticipated to consummate the proposed Merger; problems regarding the successful integration of the businesses of Express Scripts and Cigna; unexpected costs regarding the proposed Merger; diversion of management's attention from ongoing business operations and opportunities during the pendency of the Merger; potential litigation associated with the proposed Merger; the ability to retain key personnel; the availability of financing, including relating to the proposed Merger; effects on the businesses as a result of uncertainty surrounding the proposed Merger; as well as more specific risks and uncertainties discussed in our most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.cigna.com as well as on Express Scripts» most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.express-scripts.com.

Studies of the economic impact of existing laws sponsored by groups across the ideological spectrum have found that while the costs to employers of paid sick leave mandates tend to be low on average, they tend to be more significant in certain industries, like food services, where paid sick leave is less common and workers typically are younger.

«There have been many discussions on the impact of fake news and the digital revolution on the media industry,» Ms. Joly said in a recent interview from Switzerland, where she attended the World Economic Forum.

Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry (R) World (TM); risks related to the collection, storage, transmission, use and disclosure of confidential and personal information;

Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible assets recorded on BlackBerry's balance sheet; risks as a result of actions of activist shareholders; government regulation of wireless spectrum and radio frequencies; risks related to economic and geopolitical conditions; risks associated with acquisitions; foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.

The focus on Canadian gas was natural given the location of the Summit, the first to be held outside Asia, but it also reflected the lively debate going on in Canada over industry developments, environmental issues, and potential economic impacts.

The dominant western political power, especially the U.S., with its pervasive network of information industries, wire services, satellite communications and so on, interlocks with the Asian national communications media and subverts these on political, economic and cultural levels, producing a powerful impact upon the peoples of Asia.

The study, titled «Economic Impact of the U.S. Grocery Manufacturing Industry,» is based on 2009 government data and examines food, beverage and consumer products companies» impact on U.S. employment, labor income, gross domestic product, and the industry's impact on related sectors of the nation's ecImpact of the U.S. Grocery Manufacturing Industry,» is based on 2009 government data and examines food, beverage and consumer products companies» impact on U.S. employment, labor income, gross domestic product, and the industry's impact on related sectors of the nation's Industry,» is based on 2009 government data and examines food, beverage and consumer products companies» impact on U.S. employment, labor income, gross domestic product, and the industry's impact on related sectors of the nation's ecimpact on U.S. employment, labor income, gross domestic product, and the industry's impact on related sectors of the nation's industry's impact on related sectors of the nation's ecimpact on related sectors of the nation's economy.

The non-alcoholic beverage industry has a direct economic impact of $ 141.22 billion, provides more than 233,000 jobs and helps to support hundreds of thousands more that depend, in part, on beverage sales for their livelihoods.

The non-alcoholic beverage industry employs more than 240,000 people with a direct economic impact of more than $ 169 billion and helps to support hundreds of thousands more that depend, in part, on beverage sales for their livelihoods.

About Legends Hospitality Legends, owned by the New York Yankees, the Dallas Cowboys and the Checketts Partners Investor Fund, is an industry leading sports entertainment company with disciplines focused on sales and marketing, hospitality, and feasibility market analysis and includes: Legends Hospitality, a premier provider of general concessions, premium food & beverage, catering, and retail merchandise; Legends Global Sales, which offers team owners, facility operators and athletic departments premium tickets sales and service, PSL sales execution, CRM, sponsorship and naming rights capabilities and sales training; Legends Global Planning, which provides project feasibility, economic impact studies, funding plans and business operational reviews.; and Legends Attractions, which combines its best - in - class design, sales and marketing, hospitality and merchandise services to create memorable Guest experiences in the Observatory and Stadium Tour industries.

Economic impacts of Xylella fastidiosa on the Australian wine grape and wine - making industries

This could be through culinary innovation, a commitment to social responsibility, sustainability or the economic development of their community; involvement in health or environmental campaigns, the promotion of pioneering cultural projects, or works that benefit society through their positive impact on the food industry.

Candy Company Executives, Members of Congress to Showcase Economic Impact and Leadership of America's Confectionery Industry Washington, DC (September 9, 2015)-- On -LSB-...]

Syracuse CEO's name the Technology sector most often as the single industry that will have the greatest impact on the area's economic vitality in the next three to five years.

A new report from the Institute of Alcohol Studies, Splitting the Bill: Alcohol's Impact on the UK Economy, argues that the economic benefits of the alcohol industry are overstated, undermining the economic case for cutting alcohol duty in next month's Budget.

At 10 a.m., the Assembly will hold a public hearing to review the implementation of the State Budget and its impact on the programs under the purview of the Economic Development, Job Creation, Commerce and Industry Committee and the Committee on Small Business, Roosevelt Hearing Room C, LOB, 2nd Floor, Albany.

Respondents were asked to state what impact the economic climate was having on their role; 45 % indicated that the recession has had some positive impacts in the industry.

A 2012 report by the National Shooting Sport Foundation on the Economic Impact of the Firearms and Ammunition Industry linked nearly 8,000 direct and indirect jobs in New York to the sector generating approximately $ 1.26 billion in revenue and around $ 450 million in wages in the state.

This morning on Press Pass, WBFO's Pat Feldballe speaks with Buffalo Niagara Film Commissioner Tim Clark about pitching producers, some new projects that are currently shooting, and the economic impact of film industry spending in Western New York.

He emphasises that the precise economic and environmental advantage for an individual household depends on the building's specific thermal conditions, but that the result of the study will under all circumstances have an impact on the construction industry.

Regional studies suggest that marine heat waves may provoke «widespread loss of habitat - forming species such as kelps and corals, drive shifts in species distributions, alter the structure of communities and ecosystems, and have economic impacts on aquaculture and seafood industries through declines in important fishery species,» they note.

To sketch out possible economic and human impacts on a range of countries, the committee interviewed 50 experts from academia, government, and industry.

«An effective vaccine against uterine diseases will have a significant positive impact on the dairy industry, limiting the use of antibiotics, and decreasing economic losses due to these disorders.

The fest has been expanding ever since — in size (the Bell Lightbox, its impressive official headquarters on King Street, is celebrating its fifth birthday), in scope of offerings and in impact, both as the semi-official start of the awards season but also as a boost to the economic climate of the film industry worldwide.

Based on some given figures from the study «Bioinspiration: And Economic Progress Report» created by Fermanian Business & Economic Institute, the biomimetic Influence in different huge industries is translated in a considerable impact in the Gross Domestic Product, GDP, in U.S.A. and in the global economy in 2030.

For our industry, which plays a significant role in the UK's continued economic prosperity, this can have a potentially damaging impact on our ability to secure the workforce of the future.

This collaboration is helping identify industry and economic trends that impact on the role of education to promote the digital society.

We were also honored to introduce Dr. Terry Clower, professor of public policy at George Mason University's Schar School of Policy and Government and director of its Center on Regional Analysis to present the results of a Pet Leadership Council (PLC) and PIJAC - funded study examining the economic impact of the pet industry.

Keynote Address: The Dynamic Impact of Macro-Economic Trends on the Pet Industry — Dr. Edmond Seifried will combine economic trends and forecasts with valuable industry insights to discuss how events in the macro-economic sector will affect the pet iIndustry — Dr. Edmond Seifried will combine economic trends and forecasts with valuable industry insights to discuss how events in the macro-economic sector will affect the pet iindustry insights to discuss how events in the macro-economic sector will affect the pet industryindustry.

As shown in the first economic impact study of the industry, published by the Pet Industry Joint Advisory Council (PIJAC) last year, pet owners spent $ 2,400 per second on their pets in 2015 — more than on movies and industry, published by the Pet Industry Joint Advisory Council (PIJAC) last year, pet owners spent $ 2,400 per second on their pets in 2015 — more than on movies and Industry Joint Advisory Council (PIJAC) last year, pet owners spent $ 2,400 per second on their pets in 2015 — more than on movies and daycare.

The U.S. pet industry is paws down — and fins, claws, scales, and wings down — an important and significant contributor to the U.S economy as evidenced by the findings of a recently announced study at the Pet Industry Leadership Conference on the economic impact of the U.S. pet iindustry is paws down — and fins, claws, scales, and wings down — an important and significant contributor to the U.S economy as evidenced by the findings of a recently announced study at the Pet Industry Leadership Conference on the economic impact of the U.S. pet iIndustry Leadership Conference on the economic impact of the U.S. pet industryindustry.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Merck's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Merck's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and / or regulatory actions.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and / or regulatory actions.

Prior to the economic downturn, the boutique category seemed to be on a never - ending growth curve, but it was one of few within the pet industry that truly felt the impact of the great recession.

Also, earlier this year, Dr. Al Dove attended the World Oceans Summit held in Bali, Indonesia where industry professionals, scientists, and political and economic leaders came together to discuss the human impact on marine pollution.

In order to achieve sustainability, the tourism industry must continue to place a significant focus on harnessing tourism for local economic development, for the benefit of all communities and in managing the social impact of tourism.