The diversification and financial performance of US credit unions

For US credit unions, revenue from non-interest sources has increased significantly in recent years. We investigate the impact of revenue diversification on financial performance for the period 1993–2004. The impact of a change in strategy that alters the share of non-interest income is decomposed into a direct exposure effect, reflecting the difference between interest and non-interest bearing activities, and an indirect exposure effect which reflects the effect of the institution’s own degree of diversification. On both risk-adjusted and unadjusted returns measures, a positive direct exposure effect is outweighed by a negative indirect exposure effect for all but the largest credit unions. This may imply that similar diversification strategies are not appropriate for large and small credit unions. Small credit unions should eschew diversification and continue to operate as simple savings and loan institutions, while large credit unions should be encouraged to exploit new product opportunities around their core expertise.

The cost-effectiveness of the SPHERE intervention for the secondary prevention of coronary heart disease

Objectives: The Secondary Prevention of Heart disEase in geneRal practicE (SPHERE) trial has recently reported. This study examines the cost-effectiveness of the SPHERE intervention in both healthcare systems on the island of Ireland. Methods: Incremental cost-effectiveness analysis. A probabilistic model was developed to combine within-trial and beyond-trial impacts of treatment to estimate the lifetime costs and benefits of two secondary prevention strategies: Intervention - tailored practice and patient care plans; and Control - standardized usual care. Results: The intervention strategy resulted in mean cost savings per patient of 512.77 (95 percent confidence interval [CI], 1086.46-91.98) and an increase in mean quality-adjusted life-years (QALYs) per patient of 0.0051 (95 percent CI, 0.0101-0.0200), when compared with the control strategy. The probability of the intervention being cost-effective was 94 percent if decision makers are willing to pay €45,000 per additional QALY. Conclusions: Decision makers in both settings must determine whether the level of evidence presented is sufficient to justify the adoption of the SPHERE intervention in clinical practice. Copyright © Cambridge University Press 2010.

Non-Prismatic Sub-Stiffening for Stiffened Panel Plates — Stability Behaviour and Performance Gains

Previous work has demonstrated the potential to introduce plate element sub-stiffening to increase the local stability and thus static strength performance of integrally machined aluminium alloy stiffened panels. The introduction of plate element prismatic sub-stiffening modifies local plate buckling behaviour and within realistic design constraints, may produce sizable performance gains with equivalent mass designs. This article examines through experimental and computational analysis the potential of non-prismatic sub-stiffening for tailoring local plate stability performance. Using non-prismatic sub-stiffening, the experimental work demonstrates potential initial buckling performance gains with equivalent mass designs (+185%), and computationally, potential mass savings with equivalent static strength performance designs (-9.4%). (C) 2010 Elsevier Ltd. All rights reserved.

An investigation into the behaviour of concrete containing seawater-neutralised bauxite refinery residues in silage effluent

The farm production of silage as a winter-feed supplement is widespread. However, the bins in which silage is produced are subject to acidic and microbial attacks. Both these types of attack can lead to a weakening and failure of the concretes, especially on the outer lip of the open side of the silage pit. Consequently, the development of an acid-resistant concrete that can extend the life span of silage bins on farms could lead to considerable cost savings for farmers and, hence, can improve farm productivity. This paper reports on test results of an investigation into the behaviour of concrete containing seawater-neutralised bauxite refinery residues (Bauxsol™) exposed to sulphuric acid environments in the laboratory and to silage effluents. The concrete manufactured had a fixed water–cement ratio of 0.55 and natural sand was replaced with the Bauxsol™ at 0%, 5%, 10%, 15% and 20% by cement mass. Results indicated that the use of Bauxsol™ as a sand replacement material improved the behaviour of concrete both in sulphuric acid in the laboratory as well as in the silage effluent. Consequently, it is concluded that the Bauxsol™ can be used to replace 10% of natural sand to produce concrete that is resistant to silage effluents, providing an extended service life over conventional concretes used in silage pits.

Electric Vehicles - a well to wheel analysis

The European Union has set a target for 10% renewable energy in transport by 2020, which will be met using both biofuels and electric vehicles. In the case of biofuels, for the purposes of meeting the target, the biofuel must achieve greenhouse gas savings of 35% relative to the fossil fuel replaced. For biofuels, greenhouse gas savings can be calculated using life cycle analysis, or the European Union default values. In contrast, all electricity used in transport is considered to be the same, regardless of the source or the type of electric vehicle. However, the choice of the electric vehicle and electricity source will have a major impact on the greenhouse gas savings. This paper examines different electric-vehicle scenarios in terms of greenhouse gas savings, using a well-to-wheel life cycle analysis.

Intelligent demand response electric water heating to integrate wind power in Ireland

Dwindling fossil fuel resources and pressures to reduce greenhouse gas (GHG) emissions will result in a more diverse range of generation portfolios for future electricity systems. Irrespective of the portfolio mix the overarching requirement for all electricity suppliers and system operators is that supply instantaneously meets demand and that robust operating standards are maintained to ensure a consistent supply of high quality electricity to end-users. Therefore all electricity market participants will ultimately need to use a variety of tools to balance the power system. Thus the role of demand side management (DSM) with energy storage will be paramount to integrate future diverse generation portfolios. Electric water heating (EWH) has been studied previously, particularly at the domestic level to provide load control, peak shave and to benefit end-users financially with lower bills, particularly in vertically integrated monopolies. In this paper, a continuous Direct Load Control (DLC) EWH algorithm is applied in a liberalized market environment using actual historical electricity system and market data to examine the potential energy savings, cost reductions and electricity system operational improvements.

Prediction-Based Power-Performance Adaptation of Multithreaded Scientific Codes

Computing has recently reached an inflection point with the introduction of multicore processors. On-chip thread-level parallelism is doubling approximately every other year. Concurrency lends itself naturally to allowing a program to trade performance for power savings by regulating the number of active cores; however, in several domains, users are unwilling to sacrifice performance to save power. We present a prediction model for identifying energy-efficient operating points of concurrency in well-tuned multithreaded scientific applications and a runtime system that uses live program analysis to optimize applications dynamically. We describe a dynamic phase-aware performance prediction model that combines multivariate regression techniques with runtime analysis of data collected from hardware event counters to locate optimal operating points of concurrency. Using our model, we develop a prediction-driven phase-aware runtime optimization scheme that throttles concurrency so that power consumption can be reduced and performance can be set at the knee of the scalability curve of each program phase. The use of prediction reduces the overhead of searching the optimization space while achieving near-optimal performance and power savings. A thorough evaluation of our approach shows a reduction in power consumption of 10.8 percent, simultaneous with an improvement in performance of 17.9 percent, resulting in energy savings of 26.7 percent.

Rotational Molding Cycle Time Reduction Using a Combination of Physical Techniques

Rotational molding is a process used to manufacture hollow plastic products, and has been heralded as a molding method with great potential. Reduction of cycle times is an important issue for the rotational molding industry, addressing a significant disadvantage of the process. Previous attempts to reduce cycle times have addressed surface enhanced molds, internal pressure, internal cooling, water spray cooling, and higher oven air flow rates within the existing process. This article explores the potential benefits of these cycle time reduction techniques, and combinations of them. Recommendations on a best practice combination are made, based on experimental observations and resulting product quality. Applying the proposed molding conditions (i.e., a combination of surface-enhanced molds, higher oven flow rates, internal mold pressure, and water spray cooling), cycle time reductions of up to 70% were achieved. Such savings are very significant, inviting the rotomolding community to incorporate these techniques efficiently in an industrial setting. POLYM. ENG. SCI., 49:1846-1854, 2009. (C) 2009 Society of Plastics Engineers

Improving the ultra-low-power performance of IEEE 802.15.6 by adaptive synchronisation

In ultra-low data rate wireless sensor networks (WSNs) waking up just to listen to a beacon every superframe can be a major waste of energy. This study introduces MedMAC, a medium access protocol for ultra-low data rate WSNs that achieves significant energy efficiency through a novel synchronisation mechanism. The new draft IEEE 802.15.6 standard for body area networks includes a sub-class of applications such as medical implantable devices and long-term micro miniature sensors with ultra-low power requirements. It will be desirable for these devices to have 10 years or more of operation between battery changes, or to have average current requirements matched to energy harvesting technology. Simulation results are presented to show that the MedMAC allows nodes to maintain synchronisation to the network while sleeping through many beacons with a significant increase in energy efficiency during periods of particularly low data transfer. Results from a comparative analysis of MedMAC and IEEE 802.15.6 MAC show that MedMAC has superior efficiency with energy savings of between 25 and 87 for the presented scenarios. © 2011 The Institution of Engineering and Technology.

Integrating wind power using intelligent electric water heating

Dwindling fossil fuel resources and pressures to reduce greenhouse gas emissions will result in a more diverse range of generation portfolios for future electricity systems. Irrespective of the portfolio mix the overarching requirement for all electricity suppliers and system operators is to instantaneously meet demand, to operate to standards and reduce greenhouse gas emissions. Therefore all electricity market participants will ultimately need to use a variety of tools to balance the power system. Thus the role of demand side management with energy storage will be paramount to integrate future diverse generation portfolios. Electric water heating has been studied previously, particularly at the domestic level to provide load control, peak shave and to bene?t end-users ?nancially with lower bills, particularly in vertically integrated monopolies. In this paper a number of continuous direct load control demand response based electric water heating algorithms are modelled to test the effectiveness of wholesale electricity market signals to study the system bene?ts. The results are compared and contrasted to determine which control algorithm showed the best potential for energy savings, system marginal price savings and wind integration.

Sequential antimicrobial therapy: treatment of severe lower respiratory tract infections in children

Although there have been a number of studies in adults, to date there has been little research into sequential antimicrobial therapy (SAT) in paediatric populations. The present study evaluates the impact of a SAT protocol for the treatment of severe lower respiratory tract infection in paediatric patients. The study involved 89 paediatric patients (44 control and 45 SAT). The SAT patients had a shorter length of hospital stay (4.0 versus 8.3 days), shorter duration of inpatient antimicrobial therapy (4.0 versus 7.9 days) with the period of iv therapy being reduced from a mean of 5.6 to 1.7 days. The total healthcare costs were reduced by 52%. The resolution of severe lower respiratory tract infection with a short course of iv antimicrobials, followed by conversion to oral therapy yielded clinical outcomes comparable to those achieved using longer term iv therapy. SAT proved to be an important cost-minimizing tool for realizing substantial healthcare costs savings.

Retrofit versus new-build house using life-cycle assessment

This paper reports the findings of research on the environmental performance of two case-study houses, a retrofit and new build. The retrofit was completed to a Passivhaus standard while the new build was completed to current Irish building regulations. Environmental performance of the retrofit and new build was measured using life-cycle assessments, examining the assembly, operational and end-of-life stage over life spans of 50 and 80 years. Using primary information, life-cycle assessment software and life-cycle assessment databases the environmental impacts of each stage were modelled. The operational stage of both case studies was found to be the source of the most significant environmental damage, followed by the assembly and the end-of-life stage respectively. The relative importance of the assembly and end-of-life stage decreased as the life span increased. It was found that the retrofit house studied outperformed the new build in the assembly and operational stage, whereas the new build performed better in the end-of-life stage; however, this is highly sensitive, depending on the standards to which both are completed. Operational energy savings pre- and post-retrofit were significant, indicating the future potential for adoption of high-quality retrofitting practices.

Challenges of UK/Irish Contractors Regarding Material Management and Logistics in Confined Site Construction

The aim of this paper is to identify the various managerial issues encountered by UK/Irish contractors in the management of materials in confined urban construction sites. Through extensive literature review, detailed interviews, case studies, cognitive mapping, causal loop diagrams, questionnaire survey and documenting severity indices, a comprehensive insight into the materials management concerns within a confined construction site environment is envisaged and portrayed. The leading issues highlighted are: that contractors’ material spatial requirements exceed available space, it is difficult to coordinate the storage of materials in line with the programme, location of the site entrance makes delivery of materials particularly difficult, it is difficult to store materials on-site due to the lack of space, and difficult to coordinate the storage requirements of the various sub-contractors. With the continued development of confined urban centres and the increasing high cost of materials, any marginal savings made on-site would translate into significant monetary savings at project completion. Such savings would give developers a distinct competitive advantage in this challenging economic climate. As on-site management professionals successfully identify, acknowledge and counteract the numerous issues illustrated, the successful management of materials on a confined urban construction site becomes attainable.

Design optimization of cold-formed steel portal frames taking into account the effect of building topology

Cold-formed steel portal frames are a popular form of construction for low-rise commercial, light industrial and agricultural buildings with spans of up to 20 m. In this article, a real-coded genetic algorithm is described that is used to minimize the cost of the main frame of such buildings. The key decision variables considered in this proposed algorithm consist of both the spacing and pitch of the frame as continuous variables, as well as the discrete section sizes.A routine taking the structural analysis and frame design for cold-formed steel sections is embedded into a genetic algorithm. The results show that the real-coded genetic algorithm handles effectively the mixture of design variables, with high robustness and consistency in achieving the optimum solution. All wind load combinations according to Australian code are considered in this research. Results for frames with knee braces are also included, for which the optimization achieved even larger savings in cost.

A constraints-based resource discovery model for multi-provider cloud environments

Increasingly infrastructure providers are supplying the cloud marketplace with storage and on-demand compute resources to host cloud applications. From an application user's point of view, it is desirable to identify the most appropriate set of available resources on which to execute an application. Resource choice can be complex and may involve comparing available hardware specifications, operating systems, value-added services, such as network configuration or data replication, and operating costs, such as hosting cost and data throughput. Providers' cost models often change and new commodity cost models, such as spot pricing, have been introduced to offer significant savings. In this paper, a software abstraction layer is used to discover infrastructure resources for a particular application, across multiple providers, by using a two-phase constraints-based approach. In the first phase, a set of possible infrastructure resources are identified for a given application. In the second phase, a heuristic is used to select the most appropriate resources from the initial set. For some applications a cost-based heuristic is most appropriate; for others a performance-based heuristic may be used. A financial services application and a high performance computing application are used to illustrate the execution of the proposed resource discovery mechanism. The experimental result shows the proposed model could dynamically select an appropriate set of resouces that match the application's requirements.