Phorbol esters are the tetracyclic diterpenoids generally known for their tumor promoting activit... more Phorbol esters are the tetracyclic diterpenoids generally known for their tumor promoting activity. The phorbol esters mimic the action of diacyl glycerol (DAG), activator of protein kinase C, which regulates different signal transduction pathways and other cellular metabolic activities. They occur naturally in many plants of the family Euphorbiacaeae and Thymelaeaceae. The biological activities of the phorbol esters are highly structure specific. The phorbol esters, even at very low concentrations, show toxicological manifestations in animals fed diets containing them. This toxicity limits the use of many nutritive plants and agricultural by-products containing phorbol esters to be used as animal feed. Therefore, various chemical and physical treatments have been evaluated to extract or inactivate phorbol esters so that seed meals rich in proteins could be used as feed resources. However, not much progress has been reported so far. The detoxifying ability has also been reported in some molluscs and in liver homogenate of mice. Besides, possessing antinutritional and toxic effects, few derivatives of the phorbol esters are also known for their antimicrobial and antitumor activities. The molluscicidal and insecticidal properties of phorbol esters indicate its potential to be used as an effective biopesticide and insecticide.
We are investigating the potential of in vivo proton magnetic resonance spectroscopy for noninvas... more We are investigating the potential of in vivo proton magnetic resonance spectroscopy for noninvasive characterization of the chemical pathology of plaques in magnetic resonance brain images from patients with multiple sclerosis. Spectra localized to chronic, irreversible plaques showed a decrease in the ratio of N-acetyl/creatine resonance intensities relative to normal-appearing white matter. Spectra localized to active plaques showed different metabolite changes as compared with spectra from identical, plaque-free volumes in the contralateral hemispheres. Some active plaques showed either no abnormalities or only an increase in tissue lactate. Spectra from others showed an increased ratio of choline/creatine resonance intensities, with or without a decreased N-acetyl/creatine resonance intensity ratio. In one case, serial observations showed an evolution of changes in spectra from a single plaque from an increased choline/creatine ratio to a decreased N-acetyl/creatine ratio. These observations suggest that proton magnetic resonance spectroscopy may be able to distinguish acute or active from chronic plaques and to characterize the pathologic evolution of active plaques by measurement of local tissue metabolite levels.
A 500 MW pulsed ruby laser is focussed on to an isolated solid hydrogen pellet in vacuo. The laun... more A 500 MW pulsed ruby laser is focussed on to an isolated solid hydrogen pellet in vacuo. The launching and timing mechanisms are described. The resulting plasma expands spherically with a front velocity of 2 × 107 cm/sec. The number of ions in the plasma exceeds 5 × 1016.
BACKGROUND: The Vasodilator-Heart Failure Trial (V-HeFT) data base provides information on the me... more BACKGROUND: The Vasodilator-Heart Failure Trial (V-HeFT) data base provides information on the mechanism of death of male veterans entered into two trials that evaluated the effect of vasodilator therapy on survival in heart failure. METHODS AND RESULTS: Men aged ...
1 The Authors would like to thank Roland Kaye, Matt Hinton and CIMA for their help with this proj... more 1 The Authors would like to thank Roland Kaye, Matt Hinton and CIMA for their help with this project. The opinions expressed are the authors' own and should not be seen as representative of CIMA. ... Within the accountancy profession, there has been a steady move away from ...
... Anthony Spirito R bde Island HospitaUBrown University School of Medicine Greta Francis Brdley... more ... Anthony Spirito R bde Island HospitaUBrown University School of Medicine Greta Francis Brdley HospitaLl3rown University School of Medicine ... The medically hospitalized and psychiatrically hospitalized suicide attempters were compared separately for sever$ reasons. ...
Background-Postinfarction left ventricular remodeling (LVR) is associated with reductions in myoc... more Background-Postinfarction left ventricular remodeling (LVR) is associated with reductions in myocardial high-energy phosphate (HEP) levels, which are more severe in animals that develop overt congestive heart failure (CHF). During high work states, further HEP loss occurs, which suggests demand-induced ischemia. This study tested the hypothesis that inadequate myocyte oxygen availability is the basis for these HEP abnormalities. Methods and Results-Myocardial infarction was produced by left circumflex coronary artery ligation in swine. Studies were performed in 20 normal animals, 14 animals with compensated LVR, and 9 animals with CHF. Phosphocreatine (PCr)/ATP was determined with 31 P NMR and deoxymyoglobin (Mb-␦) with 1 H NMR in myocardium remote from the infarct. Basal PCr/ATP tended to be decreased in postinfarct hearts, and this was significant in animals with CHF. Infusion of dobutamine (20 g ⅐ kg Ϫ1 ⅐ min Ϫ1 IV) caused doubling of the rate-pressure product in both normal and LVR hearts and resulted in comparable significant decreases of PCr/ATP in both groups. This decrease in PCr/ATP was not associated with detectable Mb-␦. In CHF hearts, rate-pressure product increased only 40% in response to dobutamine; this attenuated response also was not associated with detectable Mb-␦. Conclusions-Thus, the decrease of PCr/ATP during dobutamine infusion is not the result of insufficient myocardial oxygen availability. Furthermore, in CHF hearts, the low basal PCr/ATP and the attenuated response to dobutamine occurred in the absence of myocardial hypoxia, indicating that the HEP and contractile abnormalities were not the result of insufficient oxygen availability. (Circulation. 1999;99:942-948.) Key Words: myocardial infarction Ⅲ phosphates Ⅲ myoglobin Ⅲ dobutamine Ⅲ heart failure Methods Studies were performed in 29 swine with left circumflex coronary artery (LCx) occlusion and 20 normal animals. All experimental procedures conformed to the Guide for the Care and Use of Laboratory Animals published by the US National Institutes of Health (NIH publication 85-23, revised 1985). Production of Myocardial Infarct Young Yorkshire swine (45 days old; weight, Ϸ10 kg) were anesthetized with sodium pentobarbital 30 mg/kg IV, intubated, and
Studies on the effects of digoxin in patients with right ventricular failure and normal left vent... more Studies on the effects of digoxin in patients with right ventricular failure and normal left ventricular function have not been performed. We evaluated the short-term effects of digoxin administration in patients with primary pulmonary hypertension on hemodynamics, neurohormones, and baroreceptor responsiveness. This was a prospective study with patients serving as their own controls. University Hospital Intensive Care Unit with central monitoring. Seventeen patients with primary pulmonary hypertension and symptomatic heart failure were enrolled. Following baseline hemodynamics, neurohormonal samples were drawn and the heart rate response to change in blood pressure following a challenge of phenylephrine and nitroprusside were recorded. One mg of intravenous digoxin was given and the measurements repeated after 2 hours. Following digoxin there was a significant increase in cardiac output (3.49+/-1.2 to 3.81+/-1.2 L/min., p=0.028), a significant fall in norepinephrine (680+/-89 to 580+/-85 pg/ml, p=.013), and a significant increase in atrial natriuretic peptide (311+/-44 to 421+/-9 pg/ml, p=0.01). All of the patients had changes in heart rate and blood pressure following phenylephrine and nitroprusside challenge, but there was no significant difference in the change in heart rate response to change in blood pressure when rechallenged after digoxin treatment. Digoxin produces a modest increase in cardiac output in patients with pulmonary hypertension and right ventricular failure, as well as a significant reduction in circulating norepinephrine. No detectable effects of digoxin on baroreceptor responsiveness were apparent. The use of digoxin in pulmonary hypertension is warranted.
We present the first evaluation of the HNO 3 data product (version 2.04.09) from the High Resolut... more We present the first evaluation of the HNO 3 data product (version 2.04.09) from the High Resolution Dynamics Limb Sounder (HIRDLS) on the Earth Observing System (EOS) Aura satellite. The HIRDLS instrument obtains between 5000 and 7000 HNO 3 profiles per day. HIRDLS HNO 3 data are generally good over the latitude range of 64°S to 80°N and pressure range 100 to 10 hPa, with some profiles, depending on latitude, having useful information between 100 to 161 hPa. The individual profile ''measured'' precision is between 10 and 15%, but can be much larger if the HNO 3 abundance is low or outside the 100 hPa to 10 hPa range. Global results are compared with the HNO 3 observations from version 2.2 of the EOS Aura Microwave Limb Sounder (MLS), and it is found that large-scale features are consistent between the two instruments. HIRDLS HNO 3 is biased 0-20% low relative to Aura MLS in the mid-to-high latitudes and biased high in the tropical stratosphere. HIRDLS HNO 3 is also compared with Atmospheric Chemistry Experiment Fourier Transform Spectrometer (ACE-FTS). In these mostly highlatitude comparisons the HIRDLS HNO 3 data are biased 10-30% low, depending on altitude. Finally, the HIRDLS HNO 3 is compared to in situ data taken by the NOAA Chemical Ionization Mass Spectrometer (CIMS) instrument flown during the 2005 NASA Houston Aura Validation Experiment (AVE) and the ability of HIRDLS to measure HNO 3 in the UTLS region is examined.
Background-Increased left ventricular (LV) mass predicts an adverse outcome in patients with esse... more Background-Increased left ventricular (LV) mass predicts an adverse outcome in patients with essential hypertension. The purpose of this study was to determine the relation between changes in LV mass during antihypertensive treatment and subsequent prognosis. Methods and Results-Procedures including echocardiography and 24-hour ambulatory blood pressure (BP) monitoring were performed in 430 patients with essential hypertension before therapy and after 1217 patient-years. Months or years after the follow-up visit, 31 patients suffered a first cardiovascular morbid event. The patients with a decrease in LV mass from the baseline to follow-up visit were compared with those with an increase in LV mass. There were 15 events (1.78 per 100 person-years) in the group with a decrease in LV mass and 16 events (3.03 per 100 person-years) in the group with an increase in LV mass (Pϭ.029). In a Cox model, the lesser cardiovascular risk in the group with a decrease in LV mass (hazard ratio [HR], 0.46; 95% CI, 0.22 to 0.99) remained significant (Pϭ.04) after adjustment for age (HR, 1.06; 95% CI, 1.03 to 1.10; Pϭ.0008) and baseline LVH at ECG (HR, 3.85; 95% CI, 1.52 to 9.78; Pϭ.012). In that model, baseline LV mass bordered on statistical significance (HR, 1.01; 95% CI, 1.00 to 1.03; Pϭ.06). In the subset with LV mass Ͼ125 g/m 2 at the baseline visit (26% of subjects), the event rate was lower among the subjects who achieved regression of LVH than in those who did not (1.58 versus 6.27 events per 100 person-years; Pϭ.002). This difference held in the multivariate analysis (HR, 0.18; 95% CI, 0.05 to 0.68). Conclusions-In essential hypertension, a reduction in LV mass during treatment is a favorable prognostic marker that predicts a lesser risk for subsequent cardiovascular morbid events. Such an association is independent of baseline LV mass, baseline clinic and ambulatory BP, and degree of BP reduction. (Circulation. 1998;97:48-54.
It has been 25 years since the UK was the first country to begin the process of commercialising a... more It has been 25 years since the UK was the first country to begin the process of commercialising and privatising its airports. The purpose of this paper is to revisit the UK Government's stated aims with respect to commercialisation and privatisation, namely to ''encourage enterprise and efficiency in the operation of major airports. .. [and that]. .. air transport facilities should not in general be subsidised by the taxpayer. .. [and they] should normally operate as commercial undertakings.'' The authors of this paper consider the success of commercialisation and privatisation against these aims with respect to the 16 UK regional airports commercialised by the 1986 Airports Act part II. In addition, this paper considers the policy ramifications that have eventuated. The authors argue that many of the benefits may have been achievable by commercialisation alone.
This paper reassesses the notion of risk transference resulting through the introduction of priva... more This paper reassesses the notion of risk transference resulting through the introduction of private sector involvement in air transport. The paper challenges the belief that a change in ownership not only transfers the possible financial benefits from ownership but also the risks in question. While the new shareholders' investment will be exposed to risk, it is becoming clear from the responses by governments to a series of recent crises that they have not freed themselves from all the associated risks. The purpose of this paper is to explore the issue of transfer of risk in terms of the privatization of the air traffic control system in the United Kingdom. The authors conclude that governments and capital markets have been bearing a bigger risk than they originally thought.
This paper seeks to challenge the notion of risk transference via examples of PPP and privatisati... more This paper seeks to challenge the notion of risk transference via examples of PPP and privatisation of state owned assets. The paper draws on case studies in air transport operations, in which the private sector has been encouraged to take full / part responsibility for previously state-controlled operations. Cases have been drawn from the UK and New Zealand since these countries have been at the forefront of air transport privatisation, and provide examples of a variety of public/private arrangements and their outcomes. The state cannot avoid uncertainty through such contractual arrangements. The quantified approach to risk sharing has grave limitations under conditions of uncertainty. So, contrary to governments' espoused expectations, although ownership and some benefits have been transferred, some risk elements have ultimately not been transferred. This is in part due to uncertainties surrounding the future prospects of the privatised entities / PPP's. Indeed, the loss of control may result in greater risk, as private sector investors can reap the rewards of financial returns if the market remains buoyant, but at the same time they are protected to some extent by the state from the financial risk of losing their investment.
Since their emergence in the US in the mid 1970's there has been significant growth in the low-co... more Since their emergence in the US in the mid 1970's there has been significant growth in the low-cost airline sector but with a few notable exceptions low-cost airlines have operated on short-haul routes. This paper examines the extent to which the low-cost model is, or could be, applicable to long-haul operations and whether the recent emergence of long-haul low-cost carriers is a sustainable phenomenon. The authors explore the extent to which elements of the so-called low-cost model might be transferable to long-haul operations. The paper seeks to quantify the potential cost differentials that might be achievable on a long-haul 'no-frills' service. The paper also speculates as to the development and sustainability of the low-cost long-haul operations.
Phorbol esters are the tetracyclic diterpenoids generally known for their tumor promoting activit... more Phorbol esters are the tetracyclic diterpenoids generally known for their tumor promoting activity. The phorbol esters mimic the action of diacyl glycerol (DAG), activator of protein kinase C, which regulates different signal transduction pathways and other cellular metabolic activities. They occur naturally in many plants of the family Euphorbiacaeae and Thymelaeaceae. The biological activities of the phorbol esters are highly structure specific. The phorbol esters, even at very low concentrations, show toxicological manifestations in animals fed diets containing them. This toxicity limits the use of many nutritive plants and agricultural by-products containing phorbol esters to be used as animal feed. Therefore, various chemical and physical treatments have been evaluated to extract or inactivate phorbol esters so that seed meals rich in proteins could be used as feed resources. However, not much progress has been reported so far. The detoxifying ability has also been reported in some molluscs and in liver homogenate of mice. Besides, possessing antinutritional and toxic effects, few derivatives of the phorbol esters are also known for their antimicrobial and antitumor activities. The molluscicidal and insecticidal properties of phorbol esters indicate its potential to be used as an effective biopesticide and insecticide.
We are investigating the potential of in vivo proton magnetic resonance spectroscopy for noninvas... more We are investigating the potential of in vivo proton magnetic resonance spectroscopy for noninvasive characterization of the chemical pathology of plaques in magnetic resonance brain images from patients with multiple sclerosis. Spectra localized to chronic, irreversible plaques showed a decrease in the ratio of N-acetyl/creatine resonance intensities relative to normal-appearing white matter. Spectra localized to active plaques showed different metabolite changes as compared with spectra from identical, plaque-free volumes in the contralateral hemispheres. Some active plaques showed either no abnormalities or only an increase in tissue lactate. Spectra from others showed an increased ratio of choline/creatine resonance intensities, with or without a decreased N-acetyl/creatine resonance intensity ratio. In one case, serial observations showed an evolution of changes in spectra from a single plaque from an increased choline/creatine ratio to a decreased N-acetyl/creatine ratio. These observations suggest that proton magnetic resonance spectroscopy may be able to distinguish acute or active from chronic plaques and to characterize the pathologic evolution of active plaques by measurement of local tissue metabolite levels.
A 500 MW pulsed ruby laser is focussed on to an isolated solid hydrogen pellet in vacuo. The laun... more A 500 MW pulsed ruby laser is focussed on to an isolated solid hydrogen pellet in vacuo. The launching and timing mechanisms are described. The resulting plasma expands spherically with a front velocity of 2 × 107 cm/sec. The number of ions in the plasma exceeds 5 × 1016.
BACKGROUND: The Vasodilator-Heart Failure Trial (V-HeFT) data base provides information on the me... more BACKGROUND: The Vasodilator-Heart Failure Trial (V-HeFT) data base provides information on the mechanism of death of male veterans entered into two trials that evaluated the effect of vasodilator therapy on survival in heart failure. METHODS AND RESULTS: Men aged ...
1 The Authors would like to thank Roland Kaye, Matt Hinton and CIMA for their help with this proj... more 1 The Authors would like to thank Roland Kaye, Matt Hinton and CIMA for their help with this project. The opinions expressed are the authors' own and should not be seen as representative of CIMA. ... Within the accountancy profession, there has been a steady move away from ...
... Anthony Spirito R bde Island HospitaUBrown University School of Medicine Greta Francis Brdley... more ... Anthony Spirito R bde Island HospitaUBrown University School of Medicine Greta Francis Brdley HospitaLl3rown University School of Medicine ... The medically hospitalized and psychiatrically hospitalized suicide attempters were compared separately for sever$ reasons. ...
Background-Postinfarction left ventricular remodeling (LVR) is associated with reductions in myoc... more Background-Postinfarction left ventricular remodeling (LVR) is associated with reductions in myocardial high-energy phosphate (HEP) levels, which are more severe in animals that develop overt congestive heart failure (CHF). During high work states, further HEP loss occurs, which suggests demand-induced ischemia. This study tested the hypothesis that inadequate myocyte oxygen availability is the basis for these HEP abnormalities. Methods and Results-Myocardial infarction was produced by left circumflex coronary artery ligation in swine. Studies were performed in 20 normal animals, 14 animals with compensated LVR, and 9 animals with CHF. Phosphocreatine (PCr)/ATP was determined with 31 P NMR and deoxymyoglobin (Mb-␦) with 1 H NMR in myocardium remote from the infarct. Basal PCr/ATP tended to be decreased in postinfarct hearts, and this was significant in animals with CHF. Infusion of dobutamine (20 g ⅐ kg Ϫ1 ⅐ min Ϫ1 IV) caused doubling of the rate-pressure product in both normal and LVR hearts and resulted in comparable significant decreases of PCr/ATP in both groups. This decrease in PCr/ATP was not associated with detectable Mb-␦. In CHF hearts, rate-pressure product increased only 40% in response to dobutamine; this attenuated response also was not associated with detectable Mb-␦. Conclusions-Thus, the decrease of PCr/ATP during dobutamine infusion is not the result of insufficient myocardial oxygen availability. Furthermore, in CHF hearts, the low basal PCr/ATP and the attenuated response to dobutamine occurred in the absence of myocardial hypoxia, indicating that the HEP and contractile abnormalities were not the result of insufficient oxygen availability. (Circulation. 1999;99:942-948.) Key Words: myocardial infarction Ⅲ phosphates Ⅲ myoglobin Ⅲ dobutamine Ⅲ heart failure Methods Studies were performed in 29 swine with left circumflex coronary artery (LCx) occlusion and 20 normal animals. All experimental procedures conformed to the Guide for the Care and Use of Laboratory Animals published by the US National Institutes of Health (NIH publication 85-23, revised 1985). Production of Myocardial Infarct Young Yorkshire swine (45 days old; weight, Ϸ10 kg) were anesthetized with sodium pentobarbital 30 mg/kg IV, intubated, and
Studies on the effects of digoxin in patients with right ventricular failure and normal left vent... more Studies on the effects of digoxin in patients with right ventricular failure and normal left ventricular function have not been performed. We evaluated the short-term effects of digoxin administration in patients with primary pulmonary hypertension on hemodynamics, neurohormones, and baroreceptor responsiveness. This was a prospective study with patients serving as their own controls. University Hospital Intensive Care Unit with central monitoring. Seventeen patients with primary pulmonary hypertension and symptomatic heart failure were enrolled. Following baseline hemodynamics, neurohormonal samples were drawn and the heart rate response to change in blood pressure following a challenge of phenylephrine and nitroprusside were recorded. One mg of intravenous digoxin was given and the measurements repeated after 2 hours. Following digoxin there was a significant increase in cardiac output (3.49+/-1.2 to 3.81+/-1.2 L/min., p=0.028), a significant fall in norepinephrine (680+/-89 to 580+/-85 pg/ml, p=.013), and a significant increase in atrial natriuretic peptide (311+/-44 to 421+/-9 pg/ml, p=0.01). All of the patients had changes in heart rate and blood pressure following phenylephrine and nitroprusside challenge, but there was no significant difference in the change in heart rate response to change in blood pressure when rechallenged after digoxin treatment. Digoxin produces a modest increase in cardiac output in patients with pulmonary hypertension and right ventricular failure, as well as a significant reduction in circulating norepinephrine. No detectable effects of digoxin on baroreceptor responsiveness were apparent. The use of digoxin in pulmonary hypertension is warranted.
We present the first evaluation of the HNO 3 data product (version 2.04.09) from the High Resolut... more We present the first evaluation of the HNO 3 data product (version 2.04.09) from the High Resolution Dynamics Limb Sounder (HIRDLS) on the Earth Observing System (EOS) Aura satellite. The HIRDLS instrument obtains between 5000 and 7000 HNO 3 profiles per day. HIRDLS HNO 3 data are generally good over the latitude range of 64°S to 80°N and pressure range 100 to 10 hPa, with some profiles, depending on latitude, having useful information between 100 to 161 hPa. The individual profile ''measured'' precision is between 10 and 15%, but can be much larger if the HNO 3 abundance is low or outside the 100 hPa to 10 hPa range. Global results are compared with the HNO 3 observations from version 2.2 of the EOS Aura Microwave Limb Sounder (MLS), and it is found that large-scale features are consistent between the two instruments. HIRDLS HNO 3 is biased 0-20% low relative to Aura MLS in the mid-to-high latitudes and biased high in the tropical stratosphere. HIRDLS HNO 3 is also compared with Atmospheric Chemistry Experiment Fourier Transform Spectrometer (ACE-FTS). In these mostly highlatitude comparisons the HIRDLS HNO 3 data are biased 10-30% low, depending on altitude. Finally, the HIRDLS HNO 3 is compared to in situ data taken by the NOAA Chemical Ionization Mass Spectrometer (CIMS) instrument flown during the 2005 NASA Houston Aura Validation Experiment (AVE) and the ability of HIRDLS to measure HNO 3 in the UTLS region is examined.
Background-Increased left ventricular (LV) mass predicts an adverse outcome in patients with esse... more Background-Increased left ventricular (LV) mass predicts an adverse outcome in patients with essential hypertension. The purpose of this study was to determine the relation between changes in LV mass during antihypertensive treatment and subsequent prognosis. Methods and Results-Procedures including echocardiography and 24-hour ambulatory blood pressure (BP) monitoring were performed in 430 patients with essential hypertension before therapy and after 1217 patient-years. Months or years after the follow-up visit, 31 patients suffered a first cardiovascular morbid event. The patients with a decrease in LV mass from the baseline to follow-up visit were compared with those with an increase in LV mass. There were 15 events (1.78 per 100 person-years) in the group with a decrease in LV mass and 16 events (3.03 per 100 person-years) in the group with an increase in LV mass (Pϭ.029). In a Cox model, the lesser cardiovascular risk in the group with a decrease in LV mass (hazard ratio [HR], 0.46; 95% CI, 0.22 to 0.99) remained significant (Pϭ.04) after adjustment for age (HR, 1.06; 95% CI, 1.03 to 1.10; Pϭ.0008) and baseline LVH at ECG (HR, 3.85; 95% CI, 1.52 to 9.78; Pϭ.012). In that model, baseline LV mass bordered on statistical significance (HR, 1.01; 95% CI, 1.00 to 1.03; Pϭ.06). In the subset with LV mass Ͼ125 g/m 2 at the baseline visit (26% of subjects), the event rate was lower among the subjects who achieved regression of LVH than in those who did not (1.58 versus 6.27 events per 100 person-years; Pϭ.002). This difference held in the multivariate analysis (HR, 0.18; 95% CI, 0.05 to 0.68). Conclusions-In essential hypertension, a reduction in LV mass during treatment is a favorable prognostic marker that predicts a lesser risk for subsequent cardiovascular morbid events. Such an association is independent of baseline LV mass, baseline clinic and ambulatory BP, and degree of BP reduction. (Circulation. 1998;97:48-54.
It has been 25 years since the UK was the first country to begin the process of commercialising a... more It has been 25 years since the UK was the first country to begin the process of commercialising and privatising its airports. The purpose of this paper is to revisit the UK Government's stated aims with respect to commercialisation and privatisation, namely to ''encourage enterprise and efficiency in the operation of major airports. .. [and that]. .. air transport facilities should not in general be subsidised by the taxpayer. .. [and they] should normally operate as commercial undertakings.'' The authors of this paper consider the success of commercialisation and privatisation against these aims with respect to the 16 UK regional airports commercialised by the 1986 Airports Act part II. In addition, this paper considers the policy ramifications that have eventuated. The authors argue that many of the benefits may have been achievable by commercialisation alone.
This paper reassesses the notion of risk transference resulting through the introduction of priva... more This paper reassesses the notion of risk transference resulting through the introduction of private sector involvement in air transport. The paper challenges the belief that a change in ownership not only transfers the possible financial benefits from ownership but also the risks in question. While the new shareholders' investment will be exposed to risk, it is becoming clear from the responses by governments to a series of recent crises that they have not freed themselves from all the associated risks. The purpose of this paper is to explore the issue of transfer of risk in terms of the privatization of the air traffic control system in the United Kingdom. The authors conclude that governments and capital markets have been bearing a bigger risk than they originally thought.
This paper seeks to challenge the notion of risk transference via examples of PPP and privatisati... more This paper seeks to challenge the notion of risk transference via examples of PPP and privatisation of state owned assets. The paper draws on case studies in air transport operations, in which the private sector has been encouraged to take full / part responsibility for previously state-controlled operations. Cases have been drawn from the UK and New Zealand since these countries have been at the forefront of air transport privatisation, and provide examples of a variety of public/private arrangements and their outcomes. The state cannot avoid uncertainty through such contractual arrangements. The quantified approach to risk sharing has grave limitations under conditions of uncertainty. So, contrary to governments' espoused expectations, although ownership and some benefits have been transferred, some risk elements have ultimately not been transferred. This is in part due to uncertainties surrounding the future prospects of the privatised entities / PPP's. Indeed, the loss of control may result in greater risk, as private sector investors can reap the rewards of financial returns if the market remains buoyant, but at the same time they are protected to some extent by the state from the financial risk of losing their investment.
Since their emergence in the US in the mid 1970's there has been significant growth in the low-co... more Since their emergence in the US in the mid 1970's there has been significant growth in the low-cost airline sector but with a few notable exceptions low-cost airlines have operated on short-haul routes. This paper examines the extent to which the low-cost model is, or could be, applicable to long-haul operations and whether the recent emergence of long-haul low-cost carriers is a sustainable phenomenon. The authors explore the extent to which elements of the so-called low-cost model might be transferable to long-haul operations. The paper seeks to quantify the potential cost differentials that might be achievable on a long-haul 'no-frills' service. The paper also speculates as to the development and sustainability of the low-cost long-haul operations.
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Papers by Gidudu Francis