Ray Dalio, Bridgewater Associates founder & CIO, discusses how
political policy impacts markets, and explains how the economic machine works.
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.
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.
Before incorrectly blaming the Fed and the ECB for their allegedly ineffective monetary
policies, investment strategists would do well to reflect on the depressive
impact of an unreasonable haste to balance budgets, and on
political leaders» inability to strengthen the financial systems (in the U.S. and in Europe) and to negotiate a better balanced world economy.
Trump's
policies against Mexico could not only negatively
impact Mexico's economy and
political landscape, but also prove damaging to U.S. security as well.
Finally,
political developments are becoming increasingly relevant — ranging from elections in several countries to fiscal
policy decisions, as well as the implementation and possible
impact of Brexit (the U.K.'s decision to leave the EU).»
Not unlike today, volatility often picks up as investors digest shifting
political winds that could
impact fiscal and monetary
policy, the economy, and corporate earnings.
Drawing on Rawls,
political theorist Stephen Macedo argues, «An immigration
policy can not be considered morally acceptable in justice unless its distributive
impact is defensible from the standpoint of disadvantaged Americans.»
These questions barely scratch the surface, because the complex interplay between general advancements of computational social science and hovering satellite topics like
political bots will have an enormous
impact on research and using data for
policy.
Increasing diversity in their Cabinets appears to be of increasing importance to leaders and has been shown to have beneficial
impacts on both
policy outcomes and
political participation.
Thus, the shared
political culture has a more permanent
impact on the shaping of foreign
policy than the differences in social culture.
There is an important place for debating
policies and legacy; for assessing the
impact of
political decisions on the everyday lives of individuals and communities.
American
Political Science Association (APSA): The Section on Human Rights was established to encourage scholarship and facilitate exchange of data and research findings on all components of human rights (e.g., civil, political, economic, social, cultural, environmental), their relationship, determinants and consequences of human rights policies, structure and influence of human rights organizations, development, implementation, impact on international conventions, and changes in the international human right
Political Science Association (APSA): The Section on Human Rights was established to encourage scholarship and facilitate exchange of data and research findings on all components of human rights (e.g., civil,
political, economic, social, cultural, environmental), their relationship, determinants and consequences of human rights policies, structure and influence of human rights organizations, development, implementation, impact on international conventions, and changes in the international human right
political, economic, social, cultural, environmental), their relationship, determinants and consequences of human rights
policies, structure and influence of human rights organizations, development, implementation,
impact on international conventions, and changes in the international human rights regime.
Given that Medicare data from other states are available, the approach could be used more broadly to measure the health
impacts of immigration
policy nationwide, says Tom Wong, a
political scientist at the University of California, San Diego.
Only the sustained commitment of donors and the
political will to enact
policy change for greater refugee freedoms within Thailand will have a significant
impact on improving the livelihoods for the large part of the population.
Given the contentiousness of these
policies and the
political volatility associated with Mayor Fenty's loss and Chancellor Rhee's resignation, teachers may have reasonably doubted the staying power of
IMPACT's performance - based dismissal threats, opting not to respond to its incentives.
While researchers often shy away from using rankings in serious statistical analyses of test scores, they can have a substantial
impact on
political rhetoric, and consequently, education
policy.
Ed Miliband's conference speech announcing his intention to freeze energy bills has highlighted the
impact of ever rising fuel prices and created a
political football of the UK's energy
policy.
«While educators and
policy makers can provide insight into the academic and
political landscape of education, only parents have the ability to link the
impact of home and school life with the learning success of their children,» the researchers note.
By examining the key factors in each EU member state which
impact these socio - economic environments and, which in turn help mould
policy and
political sentiment, IWB seeks to highlight more than how well member states are aligned with European Union legislation on refugees.
To the extent that such
policies impact student achievement, the causal chain between the unions»
political power and student achievement (up or down) is circuitous indeed.
It's not a
policy that parents might support in theory but, because it has no practical
impact on them, won't spend
political energy promoting or defending.
Plus lots of other factors — a history of local control, admiration for the status quo,
political leadership, and so on were also found to
impact state
policies.
«There's a myth being perpetuated that buy - in is the decisive factor, but there are states showing they can have statewide
impact without everyone saying they're happy,» said Charles Barone, the director of federal
policy for Democrats for Education Reform, a New York City - based
political action committee that's been tracking and critiquing the Race to the Top competition.
As we document in Public
Impact's new report for the Charter School Growth Fund, Growing a High - Quality Charter Sector: Lessons from Tennessee, the state benefitted from the convergence of favorable
policy conditions,
political leadership, public - private grants, and an existing supply of local high - quality charter operators.
The Schools Minister David Laws has warned of the «corrosive
impact» of self - interested
political meddling in schools
policy in England.
Charter school
policy discussions often devolve into
political battles that pit advocates armed with competing research studies against one another in arguments over academic
impact.
Her considerable
political clout and connections seem to have left her staff with the impression she would take a stand on Trump
policies that directly
impact Success» 14,000 students, particularly the recent immigration ban.
Analysis of current
policy trends influencing leadership preparation and development (e.g.,
political and contextual issues that
impact leadership education such as state changes in teacher and principal evaluation systems,
impact of Common Core Standards on programs, and / or other timely and relevant
policy topics)
Our May
policy forum will provide an opportunity to gain a comprehensive understanding of the
impact of the contemporary
political climate on education.
Our March
policy forum will provide an opportunity to gain a comprehensive understanding of the
impact of the contemporary
political climate on education.
Now, if we were to think about the
impact this could have on Mexico, even if some of Trump's
policies somewhat make it through, there would be some serious economic and
political fallout in the country.
The Museum of Modern Art took a
political stand and replaced seven artworks on view with those by artists from Muslim - majority countries
impacted by President Donald Trump's recent travel ban executive order, retooling America's immigration
policy from seven countries and refugees.
The
political economy offers a general framework to understand the dominant architecture shaping the cultural field - namely Israel's military occupation and spatial reordering of the oPt and intensified processes of de-culturalization; the effects of neoliberal
policies on the public sphere; the agenda - setting of foreign investment agendas; and the
impact of globalized arts markets on the production, dissemination and reception of Palestinian culture.
Last year in an earlier post on asteroid
impacts, Mr. Schweickart mused on an issue at the heart of Dot Earth — how
political systems, reflecting human nature, still seem to be having a hard time integrating scientific understanding, uncertainties and all, in ways that result in
policies and investments that could blunt risks while fostering prosperity.
Political and economic forces affecting energy use and fuel choice make it unlikely that the CO2 issue will have a major
impact on energy
policies until convincing observations of the global warming are in hand.
Climate and energy
policies are well connected — reducing oil depletion and dependency should be achieved through deploying renewable sources and in effect will bring reducing of carbon dioxide — thus what climate
policies were (yet) not able to bring, peak oil and high oil prices (however with more negative
impacts, like social unrest and geo -
political instability) certainly will.
A few points that have caught my interest so far: • dealing with complex problems using complex tools, ideas • the idea of reconciliation in scientific debates is to try different approaches in an experimental meeting for attempting nonviolent communication in impassioned debates where there is disagreement • reconciliation is not about consensus, but rather creating an arena where we can have honest disagreement • violence in this debate derives from the potential
impacts of climate change and the
policy options, and differing
political and cultural notions of risk and responsibility.
De Los Rios elaborates, «The project looks to build the level of
impact of the
policies that are already developed — it is a project within a
political framework of actions of the state for sustainable development.»
The large gap between perception and reality of scientific agreement reflects the heated nature of
political debates over
policy on the issue, as well as the
impact of efforts to raise skepticism about scientific consensus.
The hundred of millions of people who suffer the
impacts of climate have a real
political stake in climate
policies and with a few notable exceptions (e.g., see the 2002 Delhi Declaration) have little voice in how climate
policy is evolving.
Washington, D.C. — Today, the Energy & Environment Legal Institute (E&E Legal) released an updated version of its Energy Poverty video, elaborating on the terrible human cost of «climate»
policies (with no actual projected
impact on climate), noting
political and legal developments since President Trump's dramatic announcement on June 1, 2017, that the United States would withdraw from the -LSB-...]
Getting this context clearly understood as the premise for
policy discussion is important now if progress is to be made in shaping the future in ways that avoid potential
political pitfalls as the
impacts of climate change accelerate.
Shock Revelation: UN scientist admits fake data was used in IPCC report «purely to put
political pressure on world leaders» — UN IPCC Scientist: Phony glacier claim designed to «
impact policy - makers and politicians and encourage them to take some concrete action» — UK Mail — Jan. 24, 2009 http://www.climatedepot.com/a/5027/BREAKING-NEWS-UN-Climate-Con-is-Ending-Shock-Revelation-UN-scientist-admits-fake-data-was-used-in-IPCC-report-purely-to-put-
political-pressure-on-world-leaders
While it's too early to definitively handicap the electoral
impact of a Republican call for carbon taxation (we have, after all, no
political data points to go by), it's not too early to handicap the electoral
impact of the position forwarded by most of the Republican presidential candidates today: pretending that climate change is an open scientific question while offering cheap fossil fuel as the holy grail of federal
policy.
The difference between Professor Nordhaus's optimal carbon tax
policy and a fifty - year delay
policy is insignificant economically or climatologically in view of major uncertainties in (1) future economic growth (including reductions in carbon emissions intensity); (2) the physical science (e.g., the climate sensitivity); (3) future positive and negative environmental
impacts (e.g., the economic «damage function»); (4) the evaluation of long - term economic costs and benefits (e.g., the discount rate); and (5) the international
political process (e.g., the
impact of less than full participation).
Yet talk about pace and scale of development in Canada's oil sands is considered unspeakable — a blasphemy — in
political and industry circles, even though oil sands projects are widely recognized as the highest - risk, highest - cost projects in the industry, and likely the first to be
impacted as the noose of climate
policy tightens.
* Claims: As reported by Becki Gray, Carolina Journal, Nov. 3, 2015; Claims Source: The Renewable Portfolio Standards NC (Institute of
Political Economy at Utah State University / Strata
Policy), Feb. 2015 + NC Department of Revenue, Renewable Energy Property http://www.dornc.com/publications/incentives/2015/index.html ^ Bureau of Labor Statistics, Local Area Unemployment Statistics, 2005 - 2009: http://data.bls.gov/timeseries/LASST370000000000003 ~ NC Utilities Commission attorney, as reported by The News & Observer, Apr. 22, 2015: http://www.wral.com/proposed-rollback-on-nc-renewable-energy-requirements-again-rejected/14599311/ ** NC Sustainable Energy Association, 2015 Clean Energy Industry Census, + + RTI International, Economic and Rate
Impact Analysis of Clean Energy Development in North Carolina — 2015 Update, Feb. 2015 ^ ^ TechNet letter submitted on behalf of Apple, Google and Facebook to NC General Assembly, May 2015: http://cleanenergync.com/wp-content/uploads/2015/06/Apple-Inc.-Facebook-Inc.-Google-Inc.pdf
In the case on Achibita v G4S, the request that Ms Achibita remove her headscarf was based upon a wider company
policy stating that employees are not allowed to wear symbols of
political, philosophical or religious significance, as such items might
impact upon the neutral image the business wishes to portray.
After working as a journalist, she entered law school with the goal of using her skills to give a voice to those in need and achieve positive change in national
policies that
impact a wide range of people, especially those lacking economic or
political power.