User:BuzzWeiser196/sandbox

Kennametal: 5 Yr Table

Net Income (Loss)

Year	$ millions
2020	($ 5.66)
2021	$ 54.43
2022	$ 114.62
2023	$ 118.46
2024	$ 109.32

Pubs

Pubs in New Malden include The Glass House and Bar Malden, both adjacent to the train station; The Royal Oak, north of the station on Coombe Road; The Earl Beatty near Motspur Park, built in the 1930s; and The Watchman, located at the roundabout in a building constructed built in the 1890s which was originally a police station. The Fountain pub, once located at the roundabout, closed in 2018 to make way for affordable housing.

Peabody

net income; source: 10-K.

2020	$ (1,696)
2021	$
2022	$
2023	$

compare to https://www.macrotrends.net/stocks/charts/BTU/peabody-energy/financial-statements#google_vignette

Frank Richardson Pierce

Obituary (Assoc. Press) & several other articlessaved to Newspapers.com.

Find a Grave: https://www.findagrave.com/memorial/174237903/frank-richardson-pierce

IMDB: cited as writer https://www.imdb.com/name/nm0682352/

Dividend discount model

Article lacks citations.

Bodie textbook:

• 8th edition: my library
• 10th edition: *Bodie, Zvi; Kane, Alex; and Marcus, Alan J. (2010). Essentials of Investments, tenth edition (PDF). New York, NY: McGraw-Hill Irwin.{{cite book}}: CS1 maint: multiple names: authors list (link)

Template: Citation needed tag

Source: https://en.wikipedia.org/wiki/Citation_needed

Humphries

Map: https://www.google.com/maps/place/Humphreys,+Unity+Township,+PA+15601/@40.2470141,-79.4778156,15z/data=!3m1!4b1!4m6!3m5!1s0x8834d15a6e8ff7ab:0x5248b32c83fd95f6!8m2!3d40.2470146!4d-79.4778156!16s%2Fm%2F04bm4dj?entry=ttu

https://www.coalcampusa.com/westpa/connellsville/humphreys/humphreys.htm (esp. photo from Humphries Historical Society)

Westmoreland History Industrial Sites: p. 404

Humphries Historical Society

Take photo(s)

Normal distribution=

" Chapter 6" of Introductory Statistics (Illowsky and Dean) downloaded from OpenStax.org.

"Symmetrical, single-peaked and bell-shaped... describes many human traits...one example is IQ. In the population, the mean is 100 and the standard deviation is 15 or 16, depending on the size of the population."

"If a dataset follows a normal distribution, then about 68% of the observations will fall within (one standard deviation??) of the mean."

"Many things closely follow a Normal Distribution:

• heights of people
• size of things produced by machines
• errors in measurements
• blood pressure"

" the data in a sample, which in their own way are all individual estimates of some true population parameter (some good, some bad) often miss hitting their target exactly, and instead just fall somewhere nearby."

"independent, randomly generated variables.... Its familiar bell-shaped curve statistical reports, from survey analysis and quality control to resource allocation....The graph of the normal distribution is characterized by two parameters: the mean, or average, which is the maximum of the graph and about which the graph is always symmetric; and the standard deviation, which determines the amount of dispersion away from the mean. A small standard deviation (compared with the mean) produces a steep graph, whereas a large standard deviation (again compared with the mean) produces a flat graph. The probability of a random variable falling within any given range of values is equal to the proportion of the area enclosed under the function’s graph between the given values and above the x-axis."

Spark Spread

Spark spread ($/MWh) = power price ($/MWh) – [natural gas price ($/mmBtu) * heat rate (mmBtu/MWh)]

A limitation of the spark spread calculation is that it does not take into consideration other costs associated with the generation of electricity, such as pipeline costs or fuel-related finance charges, and other variable costs (like operations and maintenance costs), taxes, or fixed expenses. In that sense, a spark spread is an indicator of market conditions, but it is not necessarily an exact measure of profitability for any one specific generator. source: https://www.eia.gov/todayinenergy/detail.php?id=9911

It was possible from 1996 to 2002 to hedge or sell such a spread on Nymex by shorting electric power and buying the fuel used for generation – fuel oil, natural gas, or coal. http://dahl.mines.edu/tech1504.pdf

AET

Applied Extrusion emerges from Chapter 11 Published: March 8, 2005. By Jennifer Inez Ward https://www.marketwatch.com/story/applied-extrusion-emerges-from-chapter-11. SAN FRANCISCO (MarketWatch) -- Applied Extrusion Technologies aetcq said Tuesday afternoon that it has emerged from Chapter 11 bankruptcy. Through its plan of reorganization, it has gone private and holders of common stock will receive 15.6 cents a share. Chief Executive and Chairman Amin Khoury has also retired. The New Castle, Del.-based company also announced that it has closed its $125 million exit financing with GE Commercial Finance GE

August 02, 2004 02:00 AM AET set for Chapter 11, restructuring. RHODA MIE. https://www.plasticsnews.com/article/20040802/NEWS/308029999/aet-set-for-chapter-11-restructuring.

Dec. 2, 2004 APPLIED EXTRUSION FILES FOR BANKRUPTCY PROTECTION https://www.nytimes.com/2004/12/02/business/company-news-applied-extrusion-files-for-bankruptcy-protection.html

Verifiability

"A source "directly supports" a given piece of material if the information is present explicitly in the source so that using this source to support the material is not a violation of Wikipedia:No original research. The location of any citation—including whether one is present in the article at all—is unrelated to whether a source directly supports the material. For questions about where and how to place citations, see Wikipedia:Citing sources, Wikipedia:Manual of Style/Lead section § Citations, etc."

Resources

This user has access to the following sources:

• The New York Times
• The Economist
• * The Journal of Finance
• Finance reference books and textbooks (see "Finance" below)
• Associated Press Stylebook

• Academia.edu
  
• Document Cloud:

1. external link
2. Wikilink

• England:

1. Historic England (aerial photos, historic buildings)
   https://historicengland.org.uk/images-books/archive/collections/aerial-photos/
   
2. Nostalgia Central

• Film:

1. American Film Institute Catalog.
   https://aficatalog.afi.com/
   

• Finance:

1. Bodie, Cane and Marcus. Essentials of Investments.
2. Christensen, Fabozzi and LoFaso, Anthony. The Handbook of Fixed Income Securities.
3. Fabozzi, Frank J. Bond Markets, Analysis and Strategies.
4. Ellison: The Theory of Interest.
5. Fisher, Irving. The Rate of Interest.
6. Herzfeld, Thomas. Herzfeld's Guide to Closed-End Funds."
7. Huxley and Burns. Asset Dedication.
8. Liebowitz And Homer. Inside the Yield Book.
9. Martinelli, Lionel, Priaulet, Phillippe and Priaulet, Stephane. Fixed Income Securities: Valuation, Risk Management and Portfolio Strategies.
10. Melicher and Welshans. Finance: Introduction to Markets, Institutions and Management.
11. Graham, Smart and Megginson. Corporate Finance.
12. Nikbakht and Groppelli. Finance.
13. Ross, Westerfield and Jordan. Fundamentals of Corporate Finance.
14. Thau, Annette. The Bond Book.

• Literature:

1. The Robbins Library Projects at the University of Rochester: Camelot, Chaucer, Crusades, Robin Hood, Cinderella, Middle English, more.
   https://d.lib.rochester.edu https://d.lib.rochester.edu/robin-hood
   
2. Rhead, Louis. Bold Robin Hood and his Outlaw Band. 1912. Harper.
   https://archive.org/details/boldrobinhoodhis00rheaiala/mode/2up
   

• National:

1. Census Bureau: Quick Facts (towns of 5,000 or more population)
   https://www.census.gov/quickfacts/fact/table/US/PST045221
2. Census Bureau: explore data.
   https://data.census.gov/cedsci/table?q=United%20States&table=DP05&tid=ACSDP1Y2017.DP05&g=0100000US&lastDisplayedRow=29&vintage=2017&layer=state&cid=DP05_0001E
3. Mine Database:
   https://minesdatabase.com/mines/view/3608329
4. USPS Postal History: https://about.usps.com/who/profile/history/
   
5. USPS Post Office Finder:
   https://tools.usps.com/find-location.htm
   or https://about.usps.com/who/profile/history/postmaster-finder.htm

• Religion:

1. Sefaria: Jewish texts online
   https://www.sefaria.org/texts

• State and local:

1. Bituminous Coal Fields of Pennsylvania. (1928). United States: (n.p.).
   https://www.google.com/books/edition/Bituminous_Coal_Fields_of_Pennsylvania/IdkWtAEACAAJ?hl=en
2. Boucher, John Newton. The History of Westmoreland County. 1906. Lewis Publishing Company.
   https://books.google.com/books/about/History_of_Westmoreland_County_Pennsylva.html?id=quEKAAAAYAAJ
   
3. Boucher, John Newton. Old and New Westmoreland. 1918. The American Historical Society, Inc. New York.
   https://books.google.com/books?id=dc8wAQAAMAAJ&printsec=frontcover&dq=boucher,+john+newton&hl=en&sa=X&ved=0ahUKEwj62_el7sfgAhUyVt8KHUbCDc8Q6AEILjAB#v=onepage&q=boucher%2C%20john%20newton&f=false
   
4. Busch, Clarence M. Report of the Commission to Locate the Site of the Frontier Forts of Pennsylvania. 1896.
   http://www.usgwarchives.net/pa/1pa/1picts/frontierforts/ff30.html
   
5. Ellis, Franklin. History of Fayette County, Pennsylvania: with biographical sketches of many of its pioneers and prominent men.
   https://archive.org/details/historyoffayette00elli
6. Incorporation Dates for Pennsylvania Municipalities:
   http://www.phmc.state.pa.us/bah/dam/rg/di/IncorporationDatesForMunicipalities/pdfs/westmoreland.pdf
   
7. Mine Map Atlas, Penn State.
   https://www.minemaps.psu.edu
8. Mine subsidence: Pennsylvania Dept. of Environmental Protection. Find out if your house is sitting on top of abandoned mine.
   https://www.dep.pa.gov/Citizens/MSI/Pages/default.aspx
   
9. Muller, Edward and Carlisle, Ronald. Westmoreland County, Pennsylvania: An Inventory of Historic Engineering and Industrial Sites. National Park Service, U.S. Department of the Interior. 1994.
   https://gis.penndot.gov/CRGISAttachments/Survey/1994-H001-129.pdf Searchable version available at https://archive.org.
10. Pennsylvania: a guide to the Keystone State. Writers Program of the Works Progress Administration. 1940. PDF, Penn State Libraries
11. Pennsylvania Historical and Museum Commission: Research Online. County and municipal records, incorporation dates for municipalities, old maps and more.
    https://www.phmc.pa.gov/Archives/Research-Online/Pages/default.aspx
12. Pennsylvania Mines and Mining: Penn State University Libraries.
    https://guides.libraries.psu.edu/c.php?g=332704&p=2236157%20Pennsylvania#s-lg-box-6807023
13. The Wikipedia Library.
    https://wikipedialibrary.wmflabs.org/?markasread=238421642&markasreadwiki=enwiki
    

Seventeen by Tarkington

In a 1923 journal article, Edith Franklin Wyatt (name) was generally favorable to the novel, praising Tarkington as "markedly competent in the characterization of age", citing his "remarkable genius in this direction as evinced in Seventeen and other tales of his." cite https://www.jstor.org/stable/25112847

Theoretical Fair Value of a Bond

${\begin{aligned}TFV&={\begin{matrix}\left({\frac {C}{1+i}}+{\frac {C}{(1+i)^{2}}}+...+{\frac {C}{(1+i)^{N}}}\right)+{\frac {M}{(1+i)^{N}}}\end{matrix}}\\&={\begin{matrix}\left(\sum _{n=1}^{N}{\frac {C}{(1+i)^{n}}}\right)+{\frac {M}{(1+i)^{N}}}\end{matrix}}\\&={\begin{matrix}C\left({\frac {1-(1+i)^{-N}}{i}}\right)+M(1+i)^{-N}\end{matrix}}\end{aligned}}$

where:

$F=$ par value

$i_{F}=$ contractual interest rate

$C=F*i_{F}=$ coupon payment (periodic interest payment)

$N=$ number of payments

$i=$ market interest rate, or required yield, or observed / appropriate yield to maturity (see below)

$M=$ value at maturity, usually equals par value

$TFV=$ theoretical fair value

10 Yr Table

PPG Industries Inc.

Net Income (Loss)

Year	$ millions
2013	$ 3,231
2014	$ 2,102
2015	$ 1,406
2016	$ 877
2017	$ 1,591
2018	$ 1,341
2019	$ 1,243
2020	$ 1,059
2021	$ 1,439
2022	$ 1,026

Tarkington

Zinoman NYT

Claremont Review of Books

In a 1923 journal article, Edith Franklin Wyatt (name) was generally favorable to the novel, praising Tarkington as "markedly competent in the characterization of age", citing his "remarkable genius in this direction as evinced in Seventeen and other tales of his." cite https://www.jstor.org/stable/25112847

Adding a reference list

Add section at end with header References and

Citing same source more than once

Using a named source more than once

Link: Footnotes: using a named source more than once

Citing multiple pages from the same source

Link: https://en.wikipedia.org/wiki/Wikipedia:Citing_sources#Citing_multiple_pages_of_the_same_source

Named references

You can name a reference by using the Ref Name field in the Cite Book template. Once named, you can invoke the reference using the named references icon in the menu bar. Or you can type the syntax by hand.

Example: Plumville, Pennsylvania
first time a source is cited: The north branch of Plum Creek passes through Plumville.
second time the same source is cited: Telephone service arrived around 1890.

Shortened footnotes

Link: Template: Shortened Footnote
Link: Shortened Footnotes

In its default mode sfn generates an "author-date" style short-cite from the following parameters:

with

   - <last1>–<last4> – positional parameters; names of one to four authors; <last1> required
   - <year> – required; four-digit year; may have a lowercase disambiguation letter
   - |p= – specific page referenced in the source
   - |pp= – comma separated list of individual pages and / or range(s) of pages referenced in the source
   - |loc= – in-source location when |p= and |pp= are inappropriate; may be used to supplement |p= and |pp=; information such as a section or figure number.

Tags and templates

Citation needed

When not to use this tag.

Dead Link in Citation

Past the following into the reference citation at the end just before </ref>

{{dead link|date=February 2021}}

Unacceptable sources

IMDB is user-generated/self-published and not an acceptable source to cite. See https://en.wikipedia.org/wiki/Wikipedia:Reliable_sources#Questionable_and_self-published_sources

MySpace is not verifiable (author cannot be determined) and not acceptable source to cite. See https://en.wikipedia.org/wiki/Wikipedia:Verifiability#What_counts_as_a_reliable_source

Improvements needed

Greetings Wikipedians! I commend all the contributors for their efforts. But sadly, this article lacks inline citations to reliable, verifiable sources. There are no citations - none at all - in the following sections:

• A
• B
• C

This violates Wikipedia's policy on verifiability (set forth here: Wikipedia policy on verifiability), which states: "Even if you are sure something is true, it must be verifiable before you can add it....The burden to demonstrate verifiability lies with the editor who adds or restores material, and it is satisfied by providing an inline citation to a reliable source that directly supports the contribution." I hope someone will step forward to remedy this problem. Readers who come to this article seeking knowledge need some way to verify that what they are reading is accurate and accepted by authorities in the field. Unsourced material is subject to being removed. My modest qualifications for this subject, such as they are, are set forth in my user profile. Cordially,

WikiProject Finance & Investment tag

{{WikiProject Finance & Investment |class= |importance= }}

Box

Box
4
5
6
7

Table

cell 1	cell 2	cell 3
cell 4	cell 5	cell 6
cell 7	cell 8	cell 9

Sortable table with heading

Net Income (Loss)

Year	$ billions
2018	$2.21
2019	$2.17
2020	($2.59)
2021	$0.59
2022	$1.03

Infobox

Morewood Massacre

Date	2 April, 1891
Location	Westmoreland County, Pennsylvania
Cause	shot during labor unrest
Casualties
9 dead

Create User Subpage

https://en.wikipedia.org/wiki/Wikipedia:Subpages

Free High School Textbooks

Physics (inc. electricity)

Projects

Closed-end fund

Writing in the 1990s, several authorities observed that while closed-end funds sometimes trade at a premium, in then-recent years they had typically traded at a discount to their net asset value, and that the size of the discounts tended to vary considerably over time. (need reference)

In 2015, Forbes observed that it is not uncommon for closed-end funds at a discount to net asset value. https://www.forbes.com/sites/aberdeen/2015/08/12/why-closed-end-funds-can-trade-at-a-discount/?sh=508a483560d1

For calendar year 2022, the weekly financial newspaper Barron's reported that the closed-end fund sector as measured by the Herzfeld Average traded at a discount to net asset value during most of calendar year 2022. The average measures 15 closed-end funds that invest primarily in U.S. equiiies.

Thomas Herzfeld, an investment adviser specializing in closed-end funds, believed that the appeal of these investments lay in the opportunity to buy them assets when discounts were large, and sell them when the discount narrowed.

In a 1991 paper professors Lee, Schleifer and Thaler identified three frequently-cited reasons for the discount:

• the perception that fund management expenses are too high, and that the potential exists for management underperformance;
• the net asset value does not reflect the exposure to future capital gains taxes on unrealized appreciation;
• if a fund holds restricted securities or "letter" stock, those assets tend to be overvalued in the net asset value calculation.

The authors cast doubt on these popular beliefs and proposed another reason for the discount: that closed-end funds attract individual investors who follow certain trading models, incorrectly believe that they have little-known information about the pricing of the funds, and/or have unrealistic expectations.

Other reasons for the discount have been said to include: (cite Herzfeld):

• that stockbrokers prefer not to recommend closed-end funds to their clients, because brokers earn higher sales commissions by steering customers to other investments; and
• the perception that closed-end funds provide lower yields than direct investment in the securities held.

"closed‐end fund prices systematically deviate from fundamental values. In this respect, fundamental value is measured by net asset value (NAV),...Typically closed‐end funds begin trading at a premium, but within a few months begin to trade persistently at a discount." https://academic.oup.com/book/27607/chapter-abstract/197670594?redirectedFrom=fulltext

Derivatives (energy)

Potential sources:

• "Energy Trading and Hedging." Tom Seng. 2019.

From http://large.stanford.edu/courses/2017/ph240/noordeh2/

• "Derivatives and Risk Management in the Petroleum, Natural Gas, and Electricity Industries," US Energy Information Administration, October 2002.
• D. Berryrieser, "Crude Oil Futures," Physics 240, Stanford University, Fall 2011.
• S. J. Deng and S. S. Oren, "Electricity Derivatives and Risk Management," Energy 31, 940 (2006).
• D. Tokic, "Rational Destabilizing Speculation, Positive Feedback Trading, and the Oil Bubble of 2008," Energy Policy 39, 2051 (2011).

The Drifters

NY Times review was less than positive, stating that Michener "...is not investigating the states of mind of those suffering from existential anxiety, of those fundamentally alienated from the world. He is setting down the log of a number of people who think they may be able to solve some problems by postponing consideration of them. ...those interested in knowing how a sympathetic member of the older generation views some of the shenanigans of the younger will find “The Drifters” a tolerable interlude, especially as it is spiced with travelogue evocations of foreign climes."

God

‘God,’ says Karen Armstrong, is ‘a symbol of indescribable transcendence,’ ‘pointing beyond itself to an ineffable reality.’ This reality should not be thought of as a thing or person. We must not anthropomorphize God or make of him an idol, in the way the religious fundamentalists and literalists do. They too have misunderstood the meaning of the term. Rather, says Armstrong, ‘God’ is a symbol pointing us in the direction of something essentially unknowable, and certainly unknowable in a rational, intellectual way. Armstrong is an apophaticist, insisting that ‘the ultimate cannot be adequately expressed in any theoretical system, however august, because it lies beyond the reach of words and concepts.’ (source: https://spectrummagazine.org/node/2002/www.popmatters.com/pm/review/108939-the-case-for-god-by-karen-armstrong)

• ineffable: too great or extreme to be expressed or described in words.
  
• transcendant: beyond or above the range of normal or merely physical human experience.

Cosmological argument: "claims that the existence of God can be inferred from facts concerning causation, explanation, change, motion, contingency, dependency, or finitude with respect to the universe or some totality of objects. A cosmological argument can also sometimes be referred to as an argument from universal causation, an argument from first cause, the causal argument, or prime mover argument."

Prime mover: "a concept advanced by Aristotle as a primary cause (or first uncaused cause) or "mover" of all the motion in the universe.The unmoved mover moves other things, but is not itself moved by any prior action."

Inverted yield curve

"One interpretation of this signal is that markets expect monetary policy to ease as the Federal Reserve responds to an upcoming deterioration in economic conditions... Why should a negative term spread predict a recession? The expectations hypothesis posits that long-term interest rates are determined by expected future short-term rates. Because short-term rates are governed by monetary policy, investors should expect declines as a phase of monetary tightening transitions to monetary easing. As expected future short-term rates fall below current short-term rates, the yield curve inverts." https://www.newyorkfed.org/research/epr/08v14n1/0807rose.html

"If anticipate recession and lower interest rates, they try to lock in long-term yields, which drives down log-term interest rates.... Some argue that shape of yield curve contains implicit forecast of future interest rates..." [Thau p. 87]

"The inverted yield curve shows that investors aren’t sure of the long-term profitability of a company’s or government’s ability to pay a debt in a certain fixed time, may be demanding more money for short-term bonds, or are willing to accept lower rates for long-term bonds, out of concern for what’s coming in the future." [Forbes, Dec. 20, 2022, https://www.forbes.com/sites/anthonytellez/2022/12/20/what-to-know-about-the-yield-curve-and-why-it-may-predict-a-recession/?sh=7ef7356d6f7d

"Investors' willingness to accept a lower yield for a lengthier maturity implies that they expect declining long-term interest rates....The corollary is the the Federal Reserve will begin to ease monetary policy."

King Rat

No sources cited.

Kiskiminetas Township

Mine opening, Roaring Run Trail

Miscellaneous

Problem of the creator of God User:BuzzWeiser196/subpage

Monroe GA

{{US Census population |1930= |1940= |1950= |1960= |1970= |1980= |1990= |2000= |2010= |2020= 14,928 https://data.census.gov/profile?g=1600000US1352192

23,020 https://www.census.gov/search-results.html?searchType=web&cssp=SERP&q=Monroe%20CCD,%20Walton%20County,%20Georgia |footnote=U.S. Decennial Census

Music

Cliff Richard - Move It

Nevada: Energy Choice

• http://energy.nv.gov/uploadedFiles/energynvgov/content/Programs/TaskForces/2017/Agenda%20Item%206%20-%20Ballot%20Initiative(2).pdf
• https:/

/thenevadaindependent.com/article/how-energy-choice-went-from-a-slam-dunk-to-an-airball

O'Hara

In the top 10 fiction works per Hacket/Burke: 1949 - A Rage to Live 1955 - Ten North Frederick 1958 - From the Terrace 1960 - Ourselves to Know, Sermons and Soda Water 1963 - Elizabeth Appleton

Ordinary and extraordinary care

Legal aspects:

• https://en.wikipedia.org/wiki/Standard_of_care
• https://www.law.cornell.edu/wex/due_care
• http://jec.unm.edu/education/online-training/torts-tutorial/duty-of-care-intent-or-negligence

Bio-ethics:

• https://bioethicsarchive.georgetown.edu/pcbe/reports/taking_care/glossary.html

Power Marketing

• https://www.lawinsider.com/dictionary/power-marketing
• http://www.allgov.com/departments/department-of-energy/power-marketing-administrations?agencyid=7424
• https://content.next.westlaw.com/6-521-0014?__lrTS=20201108082533036&transitionType=Default&contextData=(sc.Default)&firstPage=true

Population distribution

The population distribution by age was as follows: 21.8% under 18 years old; 5.9% between 18 to 24 years old, 22.3% between 25 to 44 years old, 30.4% from 45 to 64 years old, and 19.6% 65 years of age or older.

Publishers Weekly

Reception

The book was a commercial success. It was the best-selling work of fiction in America for the year xxxx, according to Publishers Weekly.

Helen MacInnes: Message From Malaga

The book was a commercial success. It was one of the ten best-selling works of fiction in the United States for the year 1971 according to Publishers Weekly. Reviewed in:

• NY Times 16 Sept 1971
• Charlotte Observer 23 Sept 1971 (see Newspapers.com clippings)
• Calgary Herald 19 Nov 1971 (see Newspapers.com clippings)
• Kirkus Reviews 22 Sept 1971. https://www.kirkusreviews.com/book-reviews/a/helen-macinnes-2/message-from-malaga/

Also mentioned in:

• Miami Herald 3 March 1974 in feature story about MacInnes
• NY Times 26 Nov 2014 in her obituary

Reinvestment Risk

Reinvestment risk' is one of the main genres of financial risk. The term describes the risk that cash flows earned from an business or investment must be invested at a lower rate of return than the funds that generated them. This can occur if the cash flows from the investment are somehow stopped and a new investment of equal attractiveness cannot be found. It is also a risk inherent in fixed income securities and loans.

Fixed income securities

When an investor buys a bond or other fixed income security, he or she faces the risk that interest rates could decrease thereafter. In that case, it may be necessary to reinvest interest payments and/or principal at a lower rate of interest than expected when the bond was purchased. Should that occur, the investor could earn an investment return less than the yield to maturity calculated when the bond was acquired.

It could also occur if a fixed income security is called prior to scheduled maturity or a loan is repaid earlier than expected.

Consequences

Pension funds are also subject to reinvestment risk especially with the short-term nature of cash investments there is always the risk that future proceeds will have to be reinvested at a lower interest rate.

Saxman

family web site: https://sites.rootsweb.com/~saxman/saxman/index.htm
includes obituary: https://sites.rootsweb.com/~saxman/saxman/obitmathias.htm
Westmoreland coal strike wiki article: references Latrobe Bulletin 1954 story

Mulkearn, Lois and Pugh, Edwin V. A Traveler's Guide to Historic Western Pennsylvania. 1954. University of Pittsburgh Press. https://books.google.com/books?id=lNYpcxnoSXsC

Pittsburgh Leader. The Book of Prominent Pennsylvanians: A Standard Reference. Leader Publishing Company. 1913.
https://books.google.com/books?id=K-QDAAAAYAAJ&pg=PA5&lpg=PA5&dq=Latrobe-Connellsville+Coal+%26+Coke+Company&source=bl&ots=5SbYwwESBi&sig=ACfU3U2SFbwO7R9bkOTbktZ_kne_sVnI9w&hl=en&sa=X&ved=2ahUKEwiK-5bi8oroAhV0ZTUKHVbaAIQQ6AEwAnoECAgQAQ#v=onepage&q&f=false

Smith, Helene and Swetnam, George. A Guidebook to Historic Western Pennsylvania. 1991. https://books.google.com/books?id=seU_PgAACAAJ&source=gbs_book_other_versions

Muller, Edward K. and Carlisle, Ronald C. (1994). WESTMORELAND COUNTY, PENNSYLVANIA: An Inventory of Historic Engineering and Industrial Sites. Washington, D.C.: National Park Service, U.S. Department of the Interior. pp. 106–107.
https://archive.org/stream/westmorelandcoun00mull/westmorelandcoun00mull_djvu.txt
https://www.dot7.state.pa.us/CRGIS_Attachments/Survey/1994-H001-129.pdf

Pennsylvania State University Libraries. Pennsylvania Mines and Mining. Information and resources about Pennsylvania mining and mineral resources.
http://guides.libraries.psu.edu/c.php?g=332704&p=2236157

U.S.Census Bureau. Income and Poverty Estimates.
https://www.census.gov/data-tools/demo/saipe/#/?map_geoSelector=aa_c

Washlaski, Raymond A. Virtual Museum of Coal Mining in Western Pennsylvania.
https://web.archive.org/web/20150906163659/http://patheoldminer.rootsweb.ancestry.com/

Washlaski, Raymond A. DERRY TWP. MINES: HISTORY OF THE COAL MINES & COKE WORKS OF DERRY TOWNSHIP, WESTMORELAND COUNTY, PENNSYLVANIA, U.S.A. https://www.academia.edu/37966601/DERRY_TWP._MINES._History_of_the_Coal_Mines_and_Coke_Works_of_Derry_Township_Westmoreland_County_Pennsylvania_U.S.A._Including_an_Index_to_the_Coal_Mines_and_Coal_Companies_of_Derry_Township_Westmoreland_County_Pennsylvania_U.S.A._

Credit ratings

Fitch: BBB- https://www.fitchratings.com/research/corporate-finance/fitch-affirms-plains-all-american-at-bbb-outlook-stable-12-04-2022

Moodys: Baa3 https://www.moodys.com/research/Moodys-upgrades-Plains-All-Americans-notes-to-Baa3--PR_458051

earnings history: 10-k, 2021: https://www.sec.gov/ix?doc=/Archives/edgar/data/1070423/000107042322000006/paa-20211231.htm Diluted net income atrib to Plains All American Pipeline LP: p. 75 (millions) 2021 593 2020 (2,590) 2019 2,171

Utility Regulation

• downloaded:

1. https://www.cpuc.ca.gov/uploadedFiles/CPUC_Public_Website/Content/About_Us/Organization/Divisions/Policy_and_Planning/PPD_Work/PPD_Work_Products_(2014_forward)/PPD-An-Introduction-to-Utility-Cost-of-Capital.pdf
2. https://www.nber.org/system/files/working_papers/w0866/w0866.pdf

• Links search: "Public Utility capital structure"

1. https://pubs.naruc.org/pub.cfm?id=C88C1A83-A25F-8A31-C71C-F8522E1E90B8
2. https://open.mitchellhamline.edu/cgi/viewcontent.cgi?article=2654&context=wmlr

DRAFT: Capital structure is an important issue in setting rates charged to customers by regulated utilities in the United States. Ratemaking practice in the U.S. holds that a utility's rates should be set at a level that assures that the company can provide reliable service at reasonable cost. The cost of capital is among the costs a utility must be allowed to recover, and depends on the company's capital structure. The utility company is free to choose its own capital structure, but regulators determine the capital structure and cost of capital used to set rates paid by customers.

ARTICLE: Bruce M. Louiselle Jean E. Heilman. The Case for the Use of an Appropriate Capital Structure in Utility Ratemaking: The General Rule Versus Minnesota. William Mitchell Law Review 1982. Mitchell Hamline School of Law. https://open.mitchellhamline.edu/cgi/viewcontent.cgi?article=2654&context=wmlr "It is a fundamental principle of public utility regulation that regulatory commissions have the responsibility of assuring that the utilities provide reliable service at reasonable cost. Since the cost of capital forms a part of the total cost that a utility must be allowed to recover, and the cost of capital depends among other things on the capital structure, it is incumbent upon the commission to choose the capital structure that produces a reasonable cost of capital. This is not to say that the actual capital structure can- not produce reasonable results; it can. If it can be shown, however, that the actual capital structure (or the one proposed by the com- pany) is imprudent and unreasonable, the commission must reject it and base the fair overall rate of return on a reasonable, albeit hypothetical, capital structure."

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Wikiproject PA

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G. K. Chesterton

The Back of the World; The troubling genius of G. K. Chesterton. By Adam Gopnik. June 30, 2008 https://www.newyorker.com/magazine/2008/07/07/the-back-of-the-world .......

mardi gras

In 1875, the Louisiana Legislature declared Mardi Gras a legal holiday in the state of Louisiana, United States. The holiday is observed on the day before Ash Wednesday (also known as Fat Tuesday).

Establishment of the state holiday made it possible for people to celebrate Mardi Gras legally. However, critics maintain that it also facilitated antisocial behavior which occurs during the festival, such drunkenness, drug abuse and violence against individuals and businesses. Laws against concealing one's identity with a mask are suspended for the day. Hence, individuals may hide their faces with masks and costumes, which may lead to increased criminal activity during the festival period.

WWII chronology

1 Sept 1939 - Germany invades Poland

December 7, 1941 - Japan attacks Pearl Harbor

11 December 1941 - Germany declares war on U.S.

8 Nov 1942 - Allies land in N. Africa

3 Sept 1943 - Allies invade Italian mainland

June 6, 1944 - Allies land in Normandy

March 1945 - Allies cross the Rhine

30 April, 1945 - Allies capture Reichstag

7 May, 1945 - Germany surrenders

August 1945 - US uses atomic bombs

2 September 1945 - Japan signs surrender documents

References

Category:Mardi Gras in New Orleans Category:1875 in Louisiana

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Yield curve

In finance, the yield curve is a graph which depicts the relationship between the yields on a selected class of debt instruments - such as bonds - of similar credit quality and successively increasing maturities.

Typically, the graph's horizontal or x-axis is a time line of months or years, with the shortest maturity on the left and progressively longer time periods on the right. The vertical or y-axis depicts the annualized yield to maturity.

Investors use the relationships depicted in yield curves to make decisions on how to price debt securities traded in public markets, and to set yields on all other sectors of the debt market, including bank loans and mortgages.

A standard measure of its slope is the difference between two- and ten-year interest rates. The wider the gap is, the steeper the slope.

(Caption))Difference ("spread") between yield on 10-year U.S. Treasury notes compared to 2-year Treasury notes.

Yield to maturity, redemption yield

• Financial Analysts Journal: https://www.jstor.org/stable/4478054
• Moneyweek: https://moneyweek.com/glossary/redemption-yield
• IG (UK trading company): https://www.ig.com/uk/investments/support/glossary-investment-terms/redemption-yield-definition

List of Closed-End Fund Articles in The Journal of Finance

• Managerial Ability, Compensation and the Closed-End Fund Discount. Jonathan B. Berk and Richard Stanton. April 2007.
• Noise Trading in Small Markets. Frederic Palomino. September 1996.
• An Investor Expectations Stock Price Predictive Model Using Closed-End Fund Premiums. Martin E. Zweig. March 1993.
• Investor Sentiment and the Closed‐End Fund Puzzle. Charles M.C. Lee, Andrei Shleifer and Richard H. Thaler. March 1991.
• Closed‐End Fund Shares' Abnormal Returns and the Information Content of Discounts and Premiums. Greggory A. Brauer. March 1988.

Tax return

• Donald Trump
• Failure to file tax returns: Al Capone