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Gunung Kidul is the name of a regency – a well known cultural region – and the town located in the province of Yogyakarta (special region), Indonesia. Like many regions on the island of Java, it is densely populated with roughly 1,600 people per square kilometer. The regency is bordered by the city of Yogyakarta to the north west, the regency of Bantul to the west, the regency of Sleman to the north west and the Indian Ocean to the south.
It occurs on a karst region, and the southern coastal edge is rough and wild but exotic with several beautiful beaches: Baron, Kukup, Krakal, Drini, Sepanjang, Sundak, Siung, Wediombo and Sadeng. Some of these beaches provide fresh fish and other sea product from local fisherman. The most notable of all is Baron beach, it provides a park next to the beach, surrounded by seafood restaurant and hostel. It has a fresh-fish market in the east side of the beach. In the west side of the beach, there is a few-hundred-metre river coming out from an almost sea-level cave on the side of western ridge. The beach itself is khaki-colored and sprawled with traditional fisherman’s boat. Beside the main beach, there is a kilometre of almost untouched white sand beach lying beyond its eastern ridge. It can be reach by small hike; there is a rest area with a beautiful view on top of the eastern hill. Gunung Kidul area in earlier times heavily forested – but most of the teak forests have been removed – and many reforestation projects occur on the western edge of the regency. The regency has been subject to extensive drought and famine within the last hundred years.
v•d•e
Administrative areas in the Special Region of Yogyakarta
Capital: Yogyakarta
Regencies
Bantul •Gunung Kidul •Kulon Progo •Sleman
Cities
Yogyakarta
See also: List of regencies and cities of Indonesia
This Yogyakarta location article is a stub. You can help Wikipedia by expanding it. v•d•e
Retrieved from “http://en.wikipedia.org/wiki/Gunung_Kidul_Regency”
Categories: Regencies of Yogyakarta | Java geography stubsHidden categories: Articles lacking sources from January 2009 | All articles lacking sources | Indonesia articles missing geocoordinate data | All articles needing coordinates
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In economics, a common-pool resource (CPR), also called a common property resource, is a type of good consisting of a natural or human-made resource system (e.g. an irrigation system or fishing grounds), whose size or characteristics makes it costly, but not impossible, to exclude potential beneficiaries from obtaining benefits from its use. Unlike pure public goods, common pool resources face problems of congestion or overuse, because they are subtractable. A common-pool resource typically consists of a core resource (e.g. water or fish), which defines the stock variable, while providing a limited quantity of extractable fringe units, which defines the flow variable. While the core resource is to be protected or entertained in order to allow for its continuous exploitation, the fringe units can be harvested or consumed.
A common property regime is a particular social arrangement regulating the preservation, maintenance, and consumption of a common-pool resource. The use of the term “common property resource” to designate a type of good has been criticized, because common-pool resources are not necessarily governed by common property regimes.
Examples of common-pool resources include irrigation systems, fishing grounds, pastures, forests, water and the atmosphere. A pasture, for instance, allows for a certain amount of grazing to occur each year without the core resource being harmed. In the case of excessive grazing, however, the pasture may become more prone to erosion and eventually yield less benefit to its users. Because their core resources are vulnerable, common-pool resources are generally subject to the problems of congestion, overuse, pollution, and potential destruction unless harvesting or use limits are devised and enforced.
The use of many common-pool resources, if managed carefully, can be extended because the resource system forms a positive feedback loop, where the stock variable continually regenerates the fringe variable as long as the stock variable is not compromised, providing an optimum amount of consumption. However, wanton consumption leads to deterioration of the stock variable, thus disrupting the flow variable for good.
Common-pool resources may be owned by national, regional or local governments as public goods, by communal groups as common property resources, or by private individuals or corporations as private goods. When they are owned by no one, they are used as open access resources. Having observed a number of common pool resources throughout the world, Elinor Ostrom noticed that a number of them are governed by common property regimes – arrangements different from private property or state administration – based on self-management by a local community. Her observations contradict claims that common-pool resources should be privatized or else face destruction in the long run due to collective action problems leading to the overuse of the core resource (see: Tragedy of the commons).
Common property regime
Common property regimes arise in situations where appropriators acting independently in relationship to a common-pool resource generating scarce resource units would obtain a lower total net benefit than what is achieved if they coordinate their strategies in some way, maintaining the resource system as common property instead of dividing it up into bits of private property. Common property regimes typically protect the core resource and allocate the fringe through complex community norms of consensus decision-making. Common resource management has to face the difficult task of devising rules that limit the amount, timing, and technology used to withdraw various resource units from the resource system. Setting the limits too high would lead to overuse and eventually to the destruction of the core resource, while setting the limits too low would unnecessarily reduce the benefits obtained by the users.
In common property regimes, access to the resource is not free, and common-pool resources are not public goods. While there is relatively free but monitored access to the resource system for community members, there are mechanisms in place which allow the community to exclude outsiders from using its resource. Thus, in a common property regime, a common-pool resource appears as a private good to an outsider and as a common good to an insider of the community. The resource units withdrawn from the system are typically owned individually by the appropriators. A common property good is rivaled in consumption.
Analysing the design of long-enduring CPR institutions, Elinor Ostrom identified eight design principles which are prerequisites for a stable CPR arrangement:
Clearly defined boundaries
Congruence between appropriation and provision rules and local conditions
Collective-choice arrangements allowing for the participation of most of the appropriators in the decision making process
Effective monitoring by monitors who are part of or accountable to the appropriators
Graduated sanctions for appropriators who do not respect community rules
Conflict-resolution mechanisms which are cheap and easy of access
Minimal recognition of rights to organize (e.g., by the government)
In case of larger CPRs: Organisation in the form of multiple layers of nested enterprises, with small, local CPRs at their bases.
Common property regimes typically function at a local level to prevent the overexploitation of a resource system from which fringe units can be extracted. There are no examples of common property regimes which solve problems of overuse on a larger scale, such as air pollution. In some cases, government regulations combined with tradable environmental allowances (TEAs) are used successfully to prevent excessive pollution, whereas in other cases — especially in the absence of a unique government being able to set limits and monitor economic activities — excessive use or pollution continue.
Critique
A common pool resource is defined above by a set of characteristics, but a common property regime is an institution. The implicit idea is that certain resources may have a propensity to be governed by common property institutions. This concept has limited usefulness because it suppresses the co-evolution of resource scarcity and institutional governance. The most that economists have been able to show, according to Copeland and Taylor 2009, is that resource characteristics may be identified that lead an institution being eventually governed by one institution or another. Three forces determine success or failure in resource management: the regulator’s enforcement power, the extent of harvesting capacity, and the ability of the resource to generate competitive returns without being extinguished. The transition of resource governance from open access to common property to regulated private property is less well understood.
References
Acheson, James, M. (1988) The Lobster Gangs of Maine. ISBN 0-87451-451-7
Anderson, Terry L., Grewell, J. Bishop (2000) “Property Rights Solutions for the Global Commons: Bottom-Up or Top-Down?” In: Duke Environmental Law & Policy Forum, Vol. X, No. 2, Spring 2000.
Copeland, Brian R.; M. Scott Taylor (2009). “Trade, Tragedy, and the Commons”. American Economic Review99 (3): 725–49. doi:10.1257/aer.99.3.725. http://www.aeaweb.org/articles.php?doi=10.1257/aer.99.3.725. Retrieved 2009-06-20.
Baland, Jean-Marie and Jean-Philippe Platteau (1996) Halting Degradation of Natural Resources: Is There a Role for Rural Communities?
Hess, C. und Ostrom, E. (2003), “Ideas, Artifacts, and Facilities: Information as a Common-Pool Resource”, Law and Contemporary Problems 66, S. 111-146.
Hess, C. and Ostrom, E. (2001), “Artifacts, Facilities, And Content: Information as a Common-pool Resource”, Workshop in Political Theory and Policy Analysis.
Meinzen-Dick, Ruth, Esther Mwangi, Stephan Dohrn. 2006. Securing the Commons. CAPRi Policy Brief 4. Washington DC: IFPRI.
Ostrom, Elinor (2003) “How Types of Goods and Property Rights Jointly Affect Collective Action”, Journal of Theoretical Politics, Vol. 15, No. 3, 239-270 (2003).
Ostrom, Elinor (1990) “Governing the Commons. The Evolution of Institutions for Collective Action”. Cambridge University Press. ISBN 0-521-40599-8
Ostrom, Elinor, Roy Gardner, and James Walker (1994) Rules, Games, and Common-Pool Resources. University of Michigan Press. 1994. ISBN 978-0472065462
Rose, Carol M. (2000) “Expanding the Choices for the Global Commons: Comparing Newfangled Tradable allowance schemes to Old-Fashioned Common Property Regimes”. In: Duke Environmental Law & Policy Forum, Vol. X, No. 2, Spring 2000.
Thompson, Jr., Barton H. (2000) “Tragically Difficult: The Obstacles to Governing the Commons” Environmental Law 30:241.
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Moses Formwalt
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Moses W. Formwalt (1820 – May 26, 1852) was the first mayor of the city of Atlanta then in DeKalb County, Georgia. Atlanta was chartered in December 1847 (the name had been changed from Marthasville in December 1845) and the first election of officers took place on January 29, 1848. Formwalt drew a larger share of the 215 votes than Jonathan Norcross and was elected mayor. First meeting of the city council followed on February 2 at the Jonas Smith grocery (site of the Howard Johnson hotel near Five Points). Things proceeded pretty normally throughout his one year term: roads were cut, wells dug, law and order somewhat maintained (a jail was built) and on January 17, 1849 Dr. Benjamin F. Bomar succeeded him as mayor.
Born in Tennessee, Formwalt came to Decatur in 1836 and established a tin shop on Decatur St. in Atlanta in 1846 where one of his most popular products were stills. He became mayor at age 28. Two years after leaving office, he began serving as deputy sheriff of DeKalb County and a short time later was stabbed to death by a prisoner while escorting him from the council chamber. He is buried at Oakland Cemetery and is honored by Formwalt Street just southwest of downtown.
References
^ Moses W. Formwalt (1820 – 1852) – Find A Grave Memorial
^ Deputy Sheriff Moses Formwalt, DeKalb County Sheriff’s Department
Preceded by –
Mayor of Atlanta
1848– 1849
Succeeded by Benjamin F. Bomar
v•d•e
Mayors of Atlanta
Formwalt · Bomar · Buell · Norcross · Gibbs · Mims · Markham · Butt · Nelson · J. Glen · Ezzard · L. Glenn · Ezzard · Whitaker · Lowe · J. Calhoun · Williams · Hulsey · Ezzard · Hammond · James · Hammock · Spencer · Hammock · Angier · W.L. Calhoun · English · Goodwin · Hillyer · Cooper · J.T. Glenn · Hemphill · Goodwin · King · Collier · Woodward · Mims · Howell · Woodward · Joyner · Maddox · Winn · Woodward · Candler · Key · Sims · Ragsdale · Key · Hartsfield · LeCraw · Hartsfield · Allen · Massell · Jackson · Young · Jackson · Campbell · Franklin · Reed
Retrieved from “http://en.wikipedia.org/wiki/Moses_Formwalt”
Categories: Mayors of Atlanta, Georgia | 1820 births | 1852 deaths
Paul Hodge is Chair of the Global Generations Policy Institute and a Distinguished Visiting Fellow at Oxford University.
The public’s servant, action-oriented innovator, change-maker, pragmatic visionary, social entrepreneur, public interest advocate, law enforcement leader and educator – for 30 years, Paul Hodge has successfully confronted societal challenges by focusing his passion and creative talents to improving the quality of life for many of our fellow Americans.
Paul has gained national recognition for leading public service initiatives to save lives and to protect and improve the quality of life and care for America’s baby boomers, minorities, youth, the elderly and our vulnerable fellow citizens in need. To ensure abundant, secure and dignified futures for America’s women, Paul created the Women’s Abundance Leadership Initiative and recently publishedthe nationally recognized study/book “Baby Boomer Women: Secure Futures or Not?”
In recognition of his visionary work, Paul was invited as an acknowledged Social Leader to the December, 2006 Inauguration of Mexico’s President Felipe Calderon; serves with 2006 Nobel Peace Price Winner Muhammad Yunus and other world leaders on the board of directors of the Schwab Foundation for Social Entrepreneurship; and was honored as the lead national baby boomer expert in the September, 2006 White House Conference on Aging’s historic “Final Report to the President and Congress, The Booming Dynamics of Aging: From Awareness to Action”.
Founding Chair of the Global Generations Policy Institute, Distinguished Visiting Fellow Emeritus at Oxford University and Founding Director of Harvard University’s National Baby Boomer Readiness Initiative, Generations Policy Program and Generations Policy Journal, Paul is a recognized authority and expert adviser to leaders in private industry, government and non-profits on the policy challenges and solutions dealing with our country’s aging citizens and baby boomers.
While his publications have received national recognition and he has created and led ground breaking initiatives, Paul has participated with world leader colleagues and moderated sessions at the World Economic Forum and the Aspen Institute. He has advised the White House and the U.S. Congress and appeared on and been extensively quoted and published in the national and world media.
In addition to his efforts to help people in need throughout the world, Paul has spear headed initiatives to safeguard our nation’s environment and has created and led successful programs to raise millions in support of diverse educational, charitable, public service and nonprofit, nonpartisan causes and institutions.
Paul has received awards and commendations, including being awarded Harvard University’s prestigious 2000 Lucius N. Littauer Fellowship for academic excellence and public service, the National Institute of Justice’s John B. Pickett Fellowship for integrity, professionalism and leadership in improving the nation’s criminal justice system and the National Association of Attorneys General Award for leading ground breaking efforts to protect and serve our nation’s vulnerable elder citizens.
Paul has earned an MPA (2000) with honors from Harvard University, a JD from Boston University’s School of Law, an MBA from Columbia University Business School and an AB from Brown University.
External links
Paul Hodge
Retrieved from “http://en.wikipedia.org/wiki/Paul_Hodge”
Categories: Living people | Columbia Business School alumni | Harvard University alumni | Brown University alumni | Boston University School of Law alumniHidden categories: Year of birth missing (living people)
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“Motown Junk”
Single by Manic Street Preachers
Released
January 21, 1991
Format
CD, Vinyl record (12″)
Recorded
Late 1990
Genre
Alternative, glam punk, hard rock, indie rock
Length
3:59
Label
Heavenly HVN8 12
Producer
Robin Wynn Evans –
Manic Street Preachers singles chronology
“New Art Riot”
(1990)
“Motown Junk“
(1991)
“You Love Us”
(1991)
“Motown Junk” is an early stand alone single from the rock band Manic Street Preachers. It was released on January 21, 1991. The track has long been a live favourite from the earlier part of their career to the present day. The title track shows the band during their pinnacle of iconoclastic attitude, such as in the lyric, “I laughed when Lennon got shot”. The Motown in the title refers to famed 60s and 70s label Motown Records. The song also displayed their huge cultural scope with a Public Enemy-sampling intro and an outro sample of The Skids.
Both b-sides featured on the single (Sorrow 16 and We Her Majesty’s Prisoners) were on the later singles “Slash ‘n’ Burn” – “You Love Us” respectively – from the band’s debut album, Generation Terrorists. The single was the band’s first from their then record label, Heavenly Records. Despite its relatively poor charting, the single gained the band much attention from the press.
The b-side “We Her Majesty’s Prisoners” was originally titled “Ceremonial Rape Machine”, but after pressure from the label, it was renamed.
When performing live, the band begin the song with a few lines from another song. From around 1991 until 1997, James would sing the chorus to the Motown classic “Baby Love”, often changing the lyrics on the spot. During 1998/99, the song began with the riff from Lynyrd Skynyrd’s “Sweet Home Alabama”; since then the Manics have used the “Motown Junk Medley” to pay tribute to Van Halen’s “Jump” and Guns N’ Roses “Sweet Child O’ Mine”. On their May 2007 tour, the Manics used the first verse of “Condemned To Rock And Roll” to begin the song, and during the December tour the band played a shortened version of The Cult’s “She Sells Sanctuary” as an intro. In the summer of 2008, they returned to preceding live performances of the song with “Baby Love.”, whilst for the Journal for Plague Lovers tour in 2009, this song was proceeded by “Stop in the Name of Love”.
The band have played the song at virtually every gig since 1990. Nicky Wire commented around 2003 that the day they stopped playing ‘Motown Junk’ live was the day they stopped being the Manics. It is noticeable, however, that on recent live performances, James Dean Bradfield does not complete the line “I laughed when Lennon got shot”, only singing “I Laughed”. Critics of the band’s “Lifeblood” album were quick to make much of the fact that the song was dropped from the setlist of the band’s December 2004 Lifeblood arena tour. It returned for the April 2005 “Past Present Future” tour, as the final song in the set.
The single’s cover features a watch recovered from the Hiroshima bomb site depicting the exact moment of detonation.
In 2008, the band added a Johnny Boy Anniversary Mix free embedded version to their official website, which featured spoken dialogue by Richey Edwards.
Track listing
CD / 12″
“Motown Junk”
“Sorrow 16″
“We Her Majesty’s Prisoners”
v•d•e
Manic Street Preachers
James Dean Bradfield·Nicky Wire·Sean Moore
Richey Edwards
Studio albums
Generation Terrorists (1992) ·Gold Against the Soul (1993) ·The Holy Bible (1994) ·Everything Must Go (1996) ·This Is My Truth Tell Me Yours (1998) ·Know Your Enemy (2001) ·Lifeblood (2004) ·Send Away the Tigers (2007) ·Journal for Plague Lovers (2009)
Compilation albums
Forever Delayed (2002) ·Lipstick Traces (2003)
EPs
New Art Riot (1990) ·Stars and Stripes (1992) ·Life Becoming a Landslide EP (1994) ·Know Our B-Sides (2001) ·God Save the Manics (2005) ·Journal for Plague Lovers Remixes E.P. (2009)
Singles
“Suicide Alley” (1988) ·“UK Channel Boredom” (1990) ·“Motown Junk” (1991) ·“You Love Us (Heavenly Version)” (1991) ·“Feminine Is Beautiful” (1991) ·“Stay Beautiful” (1991) ·“Love’s Sweet Exile/Repeat” (1991) ·“You Love Us” (1991) ·“Slash ‘N’ Burn” (1992) ·“Motorcycle Emptiness” (1992) ·“Suicide Is Painless (Theme From M*A*S*H)” (1992) ·“Little Baby Nothing” (1992) ·“From Despair to Where” (1993) ·“La Tristesse Durera (Scream to a Sigh)” (1993) ·“Roses in the Hospital” (1993) ·“Faster/P.C.P.” (1994) ·“Revol” (1994) ·“She Is Suffering” (1994) ·“A Design for Life” (1996) ·“Everything Must Go” (1996) ·“Kevin Carter” (1996) ·“Australia” (1996) ·“If You Tolerate This Your Children Will Be Next” (1998) ·“The Everlasting” (1998) ·“You Stole the Sun from My Heart” (1999) ·“Tsunami” (1999) ·“The Masses Against the Classes” (2000) ·“Found That Soul” (2001) ·“So Why So Sad” (2001) ·“Ocean Spray” (2001) ·“Let Robeson Sing” (2001) ·“There by the Grace of God” (2002) ·“The Love of Richard Nixon” (2004) ·“Empty Souls” (2005) ·“Underdogs” (2007) ·“Your Love Alone Is Not Enough” (2007) ·“Autumnsong” (2007) ·“Indian Summer” (2007) ·“Ghost of Christmas” (2007)
Box sets
Six Singles from Generation Terrorists (1997)
Video Albums
Everything Live (1997) ·Leaving the 20th Century (2000) ·Louder Than War (2001) ·Forever Delayed (2002)
Other appearances
“Raindrops Keep Falling on My Head” (1995) ·“Leviathan” (2005) ·“The Instrumental” (2006) ·“Umbrella” (2008)
Related articles
Discography ·B-sides
Retrieved from “http://en.wikipedia.org/wiki/Motown_Junk”
Categories: 1991 singles | Manic Street Preachers songs | 1990 songsHidden categories: Articles lacking sources from December 2009 | All articles lacking sources | Single articles with infobox field chart position
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This page was last modified on 16 December 2009 at 23:16.
This article relies largely or entirely upon a single source. Please help improve this article by introducing appropriate citations of additional sources. (January 2008)
Colby French
Occupation
Television actor
Colby French is an American actor. He is best known for playing Hank on the NBC drama, Heroes.
This article about an American television actor or actress is a stub. You can help Wikipedia by expanding it. v•d•e
Retrieved from “http://en.wikipedia.org/wiki/Colby_French”
Categories: Living people | American television actors | American television actor stubsHidden categories: Articles lacking reliable references from January 2008 | All articles lacking sources | Year of birth missing (living people)
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Joseph Rosier (January 24, 1870 – October 7, 1951) was a United States Senator from West Virginia. Born in Wilsonburg, West Virginia, he attended the public schools and graduated from Salem College in 1895. In 1890, Rosier was a teacher of the village school at Bristol, West Virginia and was principal of the public schools of Salem in 1891 and 1892; in 1893 and 1894 he was superintendent of schools of Harrison County, West Virginia and was a member of the faculty of Salem College from 1894 to 1896. He was a teacher in the State normal school at Glenville, West Virginia from 1896 to 1897 and was a member of the faculty of the State Teachers’ College at Fairmont, West Virginia from 1897 to 1900. He was superintendent of schools of Fairmont from 1900-1915 and was president of Fairmont State College, Fairmont from 1915-1945 and then president emeritus.
During the First World War, Rosier served as county food administrator (1917-1918) and was a consultant on education for the Works Progress Administration (1933-1937). On January 13, 1941 he was appointed as a Democrat to the U.S. Senate to fill the vacancy caused by the resignation of Matthew M. Neely and took the oath of office on May 13, 1941, after the Senate resolved a challenge to the appointment, and served from January 13, 1941, to November 17, 1942, when a duly elected successor qualified. Rosier was an unsuccessful candidate for election to the unexpired term, and resumed his former pursuits. He was elected to the West Virginia House of Delegates in 1946.
Joseph Rosier died in Fairmont in 1951. Interment was in I.O.O.F. Cemetery, Salem.
References
Joseph Rosier at the Biographical Directory of the United States Congress
Willey • Davis • Kenna • Camden • S. Elkins • D. Elkins • Watson • N. Goff • D. Elkins • G. Goff • Neely • Rosier • Shott • Revercomb • Neely • Hoblitzell • Randolph • Rockefeller
Retrieved from “http://en.wikipedia.org/wiki/Joseph_Rosier”
Categories: 1870 births | 1951 deaths | United States Senators from West Virginia | Members of the West Virginia House of Delegates | American school superintendents | Appointed United States Senators
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This page was last modified on 25 November 2009 at 09:56.
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This article may contain original research. Please improve it by verifying the claims made and adding references. Statements consisting only of original research may be removed. More details may be available on the talk page. (September 2007)
“The Pass”
Single by Rush
from the album
Presto
Released
1990
Format
CD
Recorded
1989
Genre
Progressive rock
Length
4:51
Label
Atlantic Records
Producer
Rupert Hine and Rush
Rush singles chronology
“Show Don’t Tell”
(1989)
“The Pass“
(1990)
“Superconductor”
(1990)
Presto track listing
“Chain Lightning”
(2)
“The Pass“
(3)
“War Paint”
(4)
“The Pass” is a song by the band Rush from their 1989 album Presto. The song addresses the issue of suicide among many teens. The lyrics, like the majority of Rush’s songs, are written by drummer Neil Peart. The lyric “All of us get lost in the darkness/Dreamers learn to steer by the stars/All of us do time in the gutter/Dreamers turn to look at the cars” references a line from Oscar Wilde’s play Lady Windermere’s Fan.
On the Rush in Rio DVD (2003), bassist/vocalist Geddy Lee introduces the performance of the song by announcing to the audience that the song is one of the band’s favorites.
On the same DVD’s documentary “The Boys in Brazil,” Neil Peart says he always gets emotional while playing the song, “not only for what it expresses explicitly lyrically, but because it is one of our better crafted ones.”
Track listing
#
Title
Lyrics
Music
Length
1.
“The Pass”
Neil Peart
Rush
4:51
2.
“The Pass” (Radio Edit)
Peart
Rush
External links
http://www.metal-archives.com/
v•d•e
Rush
Geddy Lee •Alex Lifeson •Neil Peart
John Rutsey •Jeff Jones
Studio albums
Rush • Fly by Night •Caress of Steel •2112 •A Farewell to Kings •Hemispheres •Permanent Waves •Moving Pictures •Signals •Grace Under Pressure •Power Windows •Hold Your Fire •Presto •Roll the Bones •Counterparts •Test for Echo •Vapor Trails •Feedback •Snakes & Arrows
Live albums
All the World’s a Stage • Exit…Stage Left •Grace Under Pressure Tour •A Show of Hands •Different Stages •Rush in Rio •R30: 30th Anniversary World Tour •Snakes & Arrows Live
Live videos
Exit…Stage Left • Grace Under Pressure Tour •A Show of Hands •Rush in Rio •R30: 30th Anniversary World Tour •Rush Replay X 3 •Snakes & Arrows Live
Album compilations
Rush Through Time • Archives •Chronicles •Retrospective I •Retrospective II •The Spirit of Radio: Greatest Hits 1974-1987 •Gold •Retrospective 3 •Working Men
Roll the Bones Tour • Counterparts Tour •Test for Echo Tour •Vapor Trails Tour •R30: 30th Anniversary Tour •Snakes & Arrows Tour
Related articles
Discography • Awards •History •Instrumentals •Equipment •Victor •My Favorite Headache •A Work in Progress •Anatomy of a Drum Solo •Ghost Rider: Travels on the Healing Road •“Fear” series •Cygnus X-1 duology •Hugh Syme •The Fifth Order of Angels
This article does not cite any references or sources.
Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (December 2009)
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A Surplus note is a bond-like instrument issued by an insurance company. These securities are subordinated obligations, and fall at the very bottom of the operating insurance company’s capital structure. They are issued primarily by mutual insurance companies, which are not public and owned instead by their policy holders. Surplus notes are debt-like in that they pay a coupon and have a finite maturity. However, in many cases, state insurance regulators have allowed insurance companies to classify the capital raised via surplus notes as “surplus” (which is the statutory equivalent of equity), because surplus note holders are last in line to make a claim on the company’s assets in a default scenario, much like where equity holders reside in a public company. The motivation for mutual companies to issue these instruments was to raise surplus (or equity) in response to new risk-based capital guidelines developed in the early 1990s. Because mutual companies are owned by policyholders, not shareholders, there was no alternative method to raise surplus or equity. While surplus note holders have last claim on the assets of the operating insurance company, it is important to realize that this claim is at the operating company level, which is still ahead of holding company obligations.
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