Michael Mauboussin, in what is arguably the best essay ever written on moats put it this way, «Companies generating
high economic returns will attract competitors willing to take a lesser, albeit still attractive return, which will drive aggregate industry returns to opportunity cost of capital.»
«Early childhood education program yields
high economic returns.»
They found that loggers can no longer depend on areas where high - value species were formerly abundant, to fetch
high economic returns.
However, it could bring
high economic returns: $ 35 for every dollar invested.
Although the larger size groups in the organic dairy sector had
higher economic returns, a trend toward concentration of production was not as evident.
Kim said the overall findings likely aren't surprising because engineering and professional jobs that require STEM or business degrees do gain
higher economic returns in the open market.
The highest economic returns observed are from preschool programs, which range from $ 4 to $ 10 per dollar invested.
Preventive intervention in the first years results in much
higher economic returns than later interventions.
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.
But because their assets tend to perform better during better
economic times, these stocks often see
higher returns than other parts of the market during upswings, says Stammers.
There are also diplomatic and official passports given to
high - ranking politicians and
economic bureaucrats, but even these are only valid for five years and must be
returned after each travel.
Singapore's sovereign wealth fund GIC, among the world's biggest investors, said it was turning cautious and expected
returns to slow over the next decade, given
high valuations, uncertainty over monetary policy and modest
economic growth.
Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues; price competition in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result in increased inventory and reduced orders as we experience wide fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result in
higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the
economic and political uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up of production of our new products, and our entry into new business channels different from those in which we have historically operated; the risk that customers do not maintain their favorable perception of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs, including costs associated with warranty
returns or the potential recall of our products; ongoing uncertainty in global
economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits of the transaction; the risk that retail customers may alter promotional pricing, increase promotion of a competitor's products over our products or reduce their inventory levels, all of which could negatively affect product demand; the risk that our investments may experience periods of significant stock price volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development, such as our pipeline of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
This week, Germany's business pages have been full of little warnings about the
Return of Inflation, the biggest bogeyman in the Teutonic
economic lexicon, all because the annual consumer price index rose to its
highest level in over three years in December, a shocking 1.7 %.
The rise of the service sector in the Canadian economy is a natural process that is leading to
high - quality jobs and supporting the
return of sustained
economic growth, Bank of Canada Governor Stephen S. Poloz said today.
We expect the tax bill to offer moderate
economic stimulus — various estimates suggest it could add 0.3 to 0.4 points to real GDP growth annually — primarily through increased corporate investment in response to the
higher after - tax
return on investment resulting from the lower 21 % corporate tax rate.
Warren Buffett buys investments with «
economic moats» in order to earn safer,
higher returns.
I think
high costs [eroding already lower
returns] are as much of a risk for investors as the [
economic situation] in Europe or China.
The tax collector (a euphemism for taxpayers) suffers as investors across the
economic spectrum borrow funds so as to leverage a
higher return on equity.
With the S&P 500 within about 8 % of its
highest level in history, with historically reliable valuation measures at obscene levels, implying near - zero 10 - 12 year S&P 500 nominal total
returns; with an extended period of extreme overvalued, overbought, overbullish conditions replaced by deterioration in market internals that signal a clear shift toward risk - aversion among investors; with credit spreads on low - grade debt blowing out to multi-year
highs; and with leading
economic measures deteriorating rapidly, we continue to classify market conditions within the most hostile
return / risk profile we identify — a classification that has been observed in only about 9 % of history.
NEXUS» goal is for its members to achieve
higher returns with less risk than typical angel investments by utilizing a model combining the business acumen of NEXUS members with Florida's community resources — including the vast university system and regional
economic development programs.
The properly measured
economic return to community college has to take into account the counterfactual outcomes that entrants would face in the absence of community college, rather than compare community college entrants to students who enter university programs after
high school.
... I am bullish because of (1) the
high volume of cash on the sidelines now
returning to the stock market, spurred by (2) easy year - over-year comparisons for
economic news, and (3) a dramatically improving earnings environment due to easier year - over-year earnings comparisons.
OTTAWA — A five - year $ 50 - billion public infrastructure spending initiative would generate a
return on investment to Canadians over the long term as
high as $ 3.83 per dollar spent, trigger significant private sector investment and stimulate wage increases, according to a new study by an independent
economic modelling firm.
Perhaps, the greatest risk to the bear case, and greatest hope for bulls is that the company
returns to its intelligent, organic growth strategy that drive
economic earnings
higher from 2005 - 2013.
Bearish investor sentiment, however, quickly abated as positive U.S.
economic data, combined with broader acceptance of a «lower for longer» interest rate environment, drove stock
returns higher.
He recognized early on that applying leverage to safe, cheap,
high - quality stocks would magnify
returns without the risk of fire - sale, allowing him to stick to the principles outlined above over the course of multiple
economic and market cycles.
ACCC Chairman, Rod Sims, delivered a speech at the Gilbert + Tobin Regulated Infrastructure Policy Workshop in Melbourne today, calling for a «
return to the approach to regulation of monopoly infrastructure envisaged by the Hilmer Committee» and arguing «it is wrong to suggest that we should not be concerned about
high monopoly pricing of infrastructure because the result is only a pure transfer of
economic rent.»
There are a few exceptions: If you're in the
highest paid 10 percent of wage earners at your company and your manager can show that your absence would cause substantial
economic harm to the organization, you can be denied «restoration,» which is the guarantee that you can
return to the same or an equivalent job.
Positive, consistent relationships during babies» earliest days result in individuals who are better equipped for success in school and in life — paving the way for bigger
returns down the road, including a
higher - quality workforce and strong
economic growth.
The
returns show that the Gillibrands household income was as
high as $ 397,792 at one point, just before the
economic downturn at the end of 2008.
Armed with 200 years of taxation receipts and other
economic indices from developed countries (mainly France, Britain and the US) he shows there is one
economic law that approaches a constant: the rate of
return on capital (r) is usually
higher than the rate of
economic growth (g).
Andy Reynolds, spokesperson for the Coalition for
Economic Justice, an association of local labor and community groups, said: «The cost per job is so
high that it is extremely unlikely that the public will really see a
return on its investment.»
He repeatedly described the state's
economic rebound under his watch, invoking images of construction cranes
returning to Buffalo and
high - tech nanotechnology businesses sprouting throughout some of upstate's most economically struggling regions.
Despite rapid growth in the sector and the
high potential of tilapia fish farming in Malaysia, poor development of the fish,
high mortality, and losses due to disease and low
economic return are common in tilapia farms.
Basically, the model encourages fisheries to reduce short - term harvests in order to realize
higher long - term yields without sacrificing
economic return.
High - quality early care and education (ECE) is critical to positive child development and has the potential to generate economic returns, but the current financing structure of ECE leaves many children without access to high - quality services and does little to strengthen the ECE workforce, says a new report from the National Academies of Sciences, Engineering, and Medic
High - quality early care and education (ECE) is critical to positive child development and has the potential to generate
economic returns, but the current financing structure of ECE leaves many children without access to
high - quality services and does little to strengthen the ECE workforce, says a new report from the National Academies of Sciences, Engineering, and Medic
high - quality services and does little to strengthen the ECE workforce, says a new report from the National Academies of Sciences, Engineering, and Medicine.
However, even accounting for increased attendance and the possibility of
higher ticket prices, the
economic return was poor and none of the hosts recouped their investment.
Economic evaluation estimated a
return on investment that exceeded $ 2,500 per participant on outcomes such as increased likelihood to graduate from
high school, lower rates of K - 12 grade retention, lower rates of initiating sexual activity, and less criminal activity among group participants (Lee et al., 2012).
Others, like my two older brothers, graduated from neighborhood comprehensive or vocational
high schools,
returned from Vietnam, took blue - collar jobs, and began the social and
economic trek from Harlem to homes in the suburbs.
By overstating the
economic return, advocates may be creating unrealistic expectations and ultimately dooming the long - term community support for providing
high - quality educational programs to all young children.
Consider this paradox: The
economic returns to
higher education are as good as they've been at any time in the past century.
Even though
high school graduates earned
higher wages than dropouts, additional requirements for a
high school diploma counteracted what were substantial
economic returns to the credential.
Paul Hamilton, an actuary and head of
higher education at consultancy Barnett Waddingham, said continuing poor
economic conditions, including market uncertainty after Brexit, and people living for longer meant 20 years of investment
returns on pension funds were currently «missing».
«There is little social pressure to graduate from
high school and they often don't understand the
economic returns from education.»
Furthermore, a 2015
economic study found that
high - quality, research - validated social and emotional learning programs bring a
return of $ 11 for every $ 1 invested.
Other than conquests, another thing driving Ram sales are buyers
returning to a segment that they fled due to
high gasoline prices and the
economic recession.
As Inside
Higher Education pointed out, academics «inhabit a parallel publishing ecosystem: a constellation of university presses and journals that publish slowly, offer few
economic returns, and subject all work to painstaking peer review.
Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general
economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble's products, low growth or declining sales and net income due to various factors, possible disruptions in Barnes & Noble's computer systems, telephone systems or supply chain, possible risks associated with data privacy, information security and intellectual property, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible risks that inventory in channels of distribution may be larger than able to be sold, possible risks associated with changes in the strategic direction of the device business, including possible reduction in sales of content, accessories and other merchandise and other adverse financial impacts, possible risk that component parts will be rendered obsolete or otherwise not be able to be effectively utilized in devices to be sold, possible risk that financial and operational forecasts and projections are not achieved, possible risk that
returns from consumers or channels of distribution may be greater than estimated, the risk that digital sales growth is less than expectations and the risk that it does not exceed the rate of investment spend,
higher - than - anticipated store closing or relocation costs,
higher interest rates, the performance of Barnes & Noble's online, digital and other initiatives, the success of Barnes & Noble's strategic investments, unanticipated increases in merchandise, component or occupancy costs, unanticipated adverse litigation results or effects, product and component shortages, the potential adverse impact on the Company's businesses resulting from the Company's prior reviews of strategic alternatives and the potential separation of the Company's businesses, the risk that the transactions with Microsoft and Pearson do not achieve the expected benefits for the parties or impose costs on the Company in excess of what the Company anticipates, including the risk that NOOK Media's applications are not commercially successful or that the expected distribution of those applications is not achieved, risks associated with the international expansion contemplated by the relationship with Microsoft, including that it is not successful or is delayed, the risk that NOOK Media is not able to perform its obligations under the Microsoft and Pearson commercial agreements and the consequences thereof, risks associated with the restatement contained in, the delayed filing of, and the material weakness in internal controls described in Barnes & Noble's Annual Report on Form 10 - K for the fiscal year ended April 27, 2013, risks associated with the SEC investigation disclosed in the quarterly report on Form 10 - Q for the fiscal quarter ended October 26, 2013, risks associated with the ongoing efforts to rationalize the NOOK business and the expected costs and benefits of such efforts and associated risks and other factors which may be outside of Barnes & Noble's control, including those factors discussed in detail in Item 1A, «Risk Factors,» in Barnes & Noble's Annual Report on Form 10 - K for the fiscal year ended April 27, 2013, and in Barnes & Noble's other filings made hereafter from time to time with the SEC.
Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the effect of the proposed separation of NOOK Media, the general
economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble's products, low growth or declining sales and net income due to various factors, possible disruptions in Barnes & Noble's computer systems, telephone systems or supply chain, possible risks associated with data privacy, information security and intellectual property, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible risks that inventory in channels of distribution may be larger than able to be sold, possible risks associated with changes in the strategic direction of the device business, including possible reduction in sales of content, accessories and other merchandise and other adverse financial impacts, possible risk that component parts will be rendered obsolete or otherwise not be able to be effectively utilized in devices to be sold, possible risk that financial and operational forecasts and projections are not achieved, possible risk that
returns from consumers or channels of distribution may be greater than estimated, the risk that digital sales growth is less than expectations and the risk that it does not exceed the rate of investment spend,
higher - than - anticipated store closing or relocation costs,
higher interest rates, the performance of Barnes & Noble's online, digital and other initiatives, the success of Barnes & Noble's strategic investments, unanticipated increases in merchandise, component or occupancy costs, unanticipated adverse litigation results or effects, product and component shortages, risks associated with the commercial agreement with Samsung, the potential adverse impact on the Company's businesses resulting from the Company's prior reviews of strategic alternatives and the potential separation of the Company's businesses (including with respect to the timing of the completion thereof), the risk that the transactions with Pearson and Samsung do not achieve the expected benefits for the parties or impose costs on the Company in excess of what the Company anticipates, including the risk that NOOK Media's applications are not commercially successful or that the expected distribution of those applications is not achieved, risks associated with the international expansion previously undertaken, including any risks associated with a reduction of international operations following termination of the Microsoft commercial agreement, the risk that NOOK Media is not able to perform its obligations under the Pearson and Samsung commercial agreements and the consequences thereof, the risks associated with the termination of Microsoft commercial agreement, including potential customer losses, risks associated with the restatement contained in, the delayed filing of, and the material weakness in internal controls described in Barnes & Noble's Annual Report on Form 10 - K for the fiscal year ended April 27, 2013, risks associated with the SEC investigation disclosed in the quarterly report on Form 10 - Q for the fiscal quarter ended October 26, 2013, risks associated with the ongoing efforts to rationalize the NOOK business and the expected costs and benefits of such efforts and associated risks and other factors which may be outside of Barnes & Noble's control, including those factors discussed in detail in Item 1A, «Risk Factors,» in Barnes & Noble's Annual Report on Form 10 - K for the fiscal year ended May 3, 2014, and in Barnes & Noble's other filings made hereafter from time to time with the SEC.