It was observed that prices
of other risk assets, such as emerging market stocks, high - yield corporate bonds, and commercial real estate, had also risen significantly in recent months.»
Not exact matches
«Finally, the increased role
of bond and loan mutual funds, in conjunction with
other factors, may have increased the
risk that liquidity pressures could emerge in related markets if investor appetite for such
assets wanes.»
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.
Bhanu Baweja, head
of emerging market cross
asset strategy at UBS, says the tax, combined with
other regulations, could help reduce financial
risks.
Soon after, concerns about liquidity and
asset quality put many
other institutions at
risk, including Bank
of America and Citigroup, which took billions in loans from the government to weather the chaos.
«In soliciting investments in the Fake Funds, CASPERSEN made the following false representations to investors, among
others: in recognition for his prior work with Park Hill Group, CASPERSEN had been offered a «friends and family» investment allocation in a security that was allegedly offered by a private equity firm; CASPERSEN was personally investing in the security, and offering it to his family and a limited number
of friends; the investment was a credit facility secured by a portfolio
of assets owned by one
of the Legitimate Funds; the investor would receive quarterly interest payments, ranging from 15 to 20 percent; the investment was practically
risk - free, as the loaned funds would remain in a bank account; the investor could withdraw the principal at any time with 90 days» notice; and investor funds should be wired to one
of the Fake Fund Accounts.
Despite having share prices that move with market prices, these funds can give rise to first - mover advantages for redeeming shareholders and create the potential for destabilizing waves
of redemptions and
asset fire sales if liquidity buffers and
other tools to manage liquidity
risk prove insufficient.
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.
Another great way to hurt yourself and your hopes
of financial independence is to build a collection
of stocks and
other assets that you have convinced yourself is diversified but, in fact, has correlated
risk running throughout.
These
assets also have a low association with
other classes
of assets, thus lowering investors» overall
risk profile.
My point was and is that the equity
risk premium is bundled up closely with the nature
of the security itself (i.e., being a publicly traded, relatively liquid investment
asset called an equity, that has a very specific bundle
of rights and
risks attached to it), which has very different characteristics than the many
other financial
assets available in the economy (many
of which have bundles
of risk that are perceived as «riskier», and many
of which are perceived as «less risky»).
Gold: We typically see commodities outperform stocks and
other risk assets in the late stages
of a business cycle.
For more than 23 years — from 1984 to 2007 — Mr. Bralver was a founder and Vice Chairman
of management consultancy Oliver, Wyman & Co. where he specialized in strategy,
risk and operational work for leading investment banks,
asset managers, exchanges and
other market utilities.
In
other news, activist hedge fund Trillium
Asset Management, which owns roughly 73,000 shares
of Facebook's stock, is urging the company to set up a
risk oversight committee.
They also hold highly diversified portfolios
of mines and
other assets, which helps mitigate concentration
risk in the event that one
of the properties stops producing.
The news triggered another round
of buying after yesterday's rally in equities and
other risk assets, with the Japanese Yen also selling off in a sign
of a more bullish investor sentiment.
The Fund is subject to substantially the same
risks as those associated with the direct ownership
of the securities or
other assets represented by the exchange - traded products («ETPs») in which the Fund invests.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, operating in a highly competitive industry; changes in the retail landscape or the loss
of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts
of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share, or add products; an impairment
of the carrying value
of goodwill or
other indefinite - lived intangible
assets; volatility in commodity, energy and
other input costs; changes in the Company's management team or
other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives; changes in relationships with significant customers and suppliers; the execution
of the Company's international expansion strategy; tax law changes or interpretations; legal claims or
other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the United States and in various
other nations in which we operate; the volatility
of capital markets; increased pension, labor and people - related expenses; volatility in the market value
of all or a portion
of the derivatives we use; exchange rate fluctuations;
risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's ability to protect intellectual property rights; impacts
of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact
of future sales
of its common stock in the public markets; the Company's ability to continue to pay a regular dividend; changes in laws and regulations; restatements
of the Company's consolidated financial statements; and
other factors.
Mr. Wander has published several articles on a variety
of investment topics, including
risk management,
asset allocation, the analysis and use
of hedge funds, the application
of quantitative investment approaches, and
other topics focusing on both theoretical and practical investment concepts.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from
other brands; the consolidation
of retail customers; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share or add products; an impairment
of the carrying value
of goodwill or
other indefinite - lived intangible
assets; volatility in commodity, energy and
other input costs; changes in the Company's management team or
other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy; changes in laws and regulations; legal claims or
other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the business and operations
of the Company in the expected time frame; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the nations in which the Company operates; the volatility
of capital markets; increased pension, labor and people - related expenses; volatility in the market value
of all or a portion
of the derivatives that the Company uses; exchange rate fluctuations;
risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's inability to protect intellectual property rights; impacts
of natural events in the locations in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; tax law changes or interpretations; and
other factors.
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.
These
risks and uncertainties include food safety and food - borne illness concerns; litigation; unfavorable publicity; federal, state and local regulation
of our business including health care reform, labor and insurance costs; technology failures; failure to execute a business continuity plan following a disaster; health concerns including virus outbreaks; the intensely competitive nature
of the restaurant industry; factors impacting our ability to drive sales growth; the impact
of indebtedness we incurred in the RARE acquisition; our plans to expand our newer brands like Bahama Breeze and Seasons 52; our ability to successfully integrate Eddie V's restaurant operations; a lack
of suitable new restaurant locations; higher - than - anticipated costs to open, close or remodel restaurants; increased advertising and marketing costs; a failure to develop and recruit effective leaders; the price and availability
of key food products and utilities; shortages or interruptions in the delivery
of food and
other products; volatility in the market value
of derivatives; general macroeconomic factors, including unemployment and interest rates; disruptions in the financial markets;
risk of doing business with franchisees and vendors in foreign markets; failure to protect our service marks or
other intellectual property; a possible impairment in the carrying value
of our goodwill or
other intangible
assets; a failure
of our internal controls over financial reporting or changes in accounting standards; and
other factors and uncertainties discussed from time to time in reports filed by Darden with the Securities and Exchange Commission.
The ability to diversify your investments and (somewhat) mitigate non-systemic
risk in your portfolio is irresistible to many investors — especially when you can apply the advantages
of mutual funds to
other asset classes, such as currencies.
In the January 2013 version
of their paper entitled «Conditional
Risk Premia in Currency Markets and Other Asset Classes», Martin Lettau, Matteo Maggiori and Michael Weber explore the ability of a simple downside risk capital asset pricing model (DR - CAPM) to explain and predict asset retu
Risk Premia in Currency Markets and
Other Asset Classes», Martin Lettau, Matteo Maggiori and Michael Weber explore the ability of a simple downside risk capital asset pricing model (DR - CAPM) to explain and predict asset ret
Asset Classes», Martin Lettau, Matteo Maggiori and Michael Weber explore the ability
of a simple downside
risk capital asset pricing model (DR - CAPM) to explain and predict asset retu
risk capital
asset pricing model (DR - CAPM) to explain and predict asset ret
asset pricing model (DR - CAPM) to explain and predict
asset ret
asset returns.
«Should the Portuguese situation continue to deteriorate,
risk aversion contagion could quickly spread to
other euro zone member states» bonds and
other asset classes,» Adrian Miller, director
of fixed - income strategy at GMP Securities LLC in New York, wrote in a note to clients.
One additional area that makes some
assets more capable
of bad investments than
others is innate
risk.
Other risks can be insured through commercial insurers, but now more and more
asset managers understand and want to take advantage
of the major tax & accounting benefits
of formalizing self - insurance through a captive.
However, while the Fed's mandate does not extend to reacting to the vagaries
of the currency market or the dynamics affecting
other economies, recent US dollar strength and wobbles in
risk assets caused by concerns over the state
of the Chinese economy can not be entirely ignored.
This is evident in a number
of developments, including: increased demand for higher -
risk assets; the increase in «carry trades» — a form
of gearing where funds are borrowed short - term at low interest rates and invested in higher - yielding
assets, often in
other countries; growth in alternative investment vehicles such as hedge funds; and growth in alternative investment strategies such as selling embedded options (see Box A).
If you are younger, say under the age
of 35, then you can probably withstand a little more
risk in your portfolio and will invest more in stocks and
other assets rather than bonds.
Asset managers face a wide range
of operational business
risks, much like any
other business.
In particular, the organization raised concerns about leveraged trading
of cryptocurrencies, though it acknowledged that the low correlation between cryptocurrencies and
other assets «suggests that the
risk of spillovers from idiosyncratic price moves in crypto
assets to the wider market may be limited at this point.»
Trading in binary options is highly speculative, involves an outstanding
risk of loss and is not suitable for everyone but only for those investors who: (a) understand and are willing to assume the economic, legal and
other risks involved; (b) are financially able to assume the loss
of their total investment; and (c) have the knowledge to understand binary options trading and the underlying
assets.
An unsecured loan, however, will provide you the peace
of mind that
other assets are not at
risk in case
of delinquency or non-payment.
We don't expect renewed bouts
of euphoria, but we see scope for investor optimism to lift equities and
other risk assets, and see a mild rise in bond yields.
Business owners who, as a normal course
of business, create a potential
risk of injury to themselves or
others should purchase business or personal liability insurance in addition to sheltering their
assets with the LLC.
In
other words, the amount
of investment per trade is your
risk while the reward is the payout offered on the specific
asset after the expiry
of that contract.As a trader, you select whether the underlying
But as
risk aversion subsides, and investors return to corporate bonds and
other assets, investors are now calculating the
risks of renewed dollar inflation.
Diversification
of your financial
assets (stock funds, bond funds and
other financial investments) is the best way to boost investment returns and reduce
risk.
Rising rates have been a key driver in the recent repricing
of risk assets and bouts
of volatility, but there are
other factors at play.
On the one hand, declining bond market activity and the persistence
of low -
risk arbitrage opportunities imply liquidity is impaired, while, on the
other, low volatility and high demand for risky
assets suggest that liquidity is alive and well.
Many investors are questioning whether Bitcoin and
other cryptocurrencies are the latest
asset bubble at
risk of bursting.
Over time, MFS has been a leading innovator in the
asset management industry, including creating one
of the first in - house research departments in the mutual fund industry in 1932, launching the first high - yield municipal bond fund and the first global balanced fund, and more recently creating «outcome - oriented» products, such as its line
of target -
risk, target - date, and
other asset allocation strategies.
Cash Allocations: I talked about this chart in the video on the Global
Risk Radar, specifically I talked about this alongside the chart which showed valuations as expensive for the major
assets (property, stocks, and bonds), and how it reflects the trend where central banks have bullied investors out
of cash and into
other assets.
Calomiris proposes (1) internal governance reforms that would decentralize power within the Fed and promote diversity
of thinking; (2) policy process reforms that would narrow the Fed's primary mandate to price stability and require the Fed to adopt and disclose a systematic approach to monetary policy; and (3)
other reforms that would constrain the Fed's
asset holdings and activities so as to avoid actions that conflict with its monetary policy mission and that
risk undermining its independence.
The trouble with VAR and
other mathematical models
of risk is that if it becomes the dominant paradigm, and everyone begins to use it, it creates distortions in the market, because institutions gravitate to
asset classes that the model makes to appear artificially cheap.
In
other words, we add one
of the five
risk - free
assets to the following base set
of eight ETFs and measure effects on the Top 1, equally weighted (EW) Top 2 and EW Top 3 SACEMS portfolios:
IF THE COMPANY BELIEVES, IN ITS SOLE DISCRETION, THAT ANY INDIVIDUALS OR ENTITIES OWNING CTK CREATES MATERIAL REGULATORY OR
OTHER LEGAL
RISKS OR ADVERSE EFFECTS FOR THE COMPANY AND / OR CTK, THE COMPANY RESERVES THE RIGHT TO: (A) BUY ALL CTK FROM SUCH CTK OWNERS AT THE THEN - EXISTING MARKET PRICE AND / OR (B) SELL ALL CRYPTOCURRENCY
ASSETS OF THE COMPANY.
Examples
of these
risks, uncertainties and
other factors include, but are not limited to the impact
of: adverse general economic and related factors, such as fluctuating or increasing levels
of unemployment, underemployment and the volatility
of fuel prices, declines in the securities and real estate markets, and perceptions
of these conditions that decrease the level
of disposable income
of consumers or consumer confidence; adverse events impacting the security
of travel, such as terrorist acts, armed conflict and threats thereof, acts
of piracy, and
other international events; the
risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or
other disturbances to our information technology and
other networks; the spread
of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or
other cruise operating costs; any impairment
of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount
of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion
of our
assets pledged as collateral under our existing debt agreements and the ability
of our creditors to accelerate the repayment
of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit
risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss
of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain
other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price
of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times
of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and
other employee relation issues; the continued availability
of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and
other factors set forth under «
Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
Brought together as part
of the Farm Animal Investment
Risk & Return (FAIRR) initiative, they include the fund arms
of insurer Aviva and Norwegian lender Nordea,
asset management groups Boston Common and Impax, several Swedish state pension funds and several
other charities and ethical investors.