Electrical Development Company of Ontario certificate of stock ownership, ca. 1910.

The Electrical Development Company of Ontario was created in 1903. It was one of three private power companies that had water power leases with the Niagara Parks Commission, but was the only one that was financed with Canadian capital. The company built the Toronto Power Generating Station at Niagara Falls beginning in 1906, and the power house was completed in 1913. During the construction, there was much debate about whether the utility should remain privately operated or become a public utility. In 1920, the company became part of the public utility.

Liquidity, institutional ownership and regulation fair disclosure

There is a body of academic literature addressing two issues of importance for leveling the playing field for all classes of investors: 1) the impact of institutional investors on liquidity; and 2) the impact of Regulation Fair Disclosure on institutional investors and liquidity. Our study addresses both issues with the purpose of attaining a better understanding and explanation of this relationship. We classify institutional ownership according to Bushee's (1998, 2001) methodology; transient institutions, dedicated institutions and quasi-indexers. Our results indicate that while transient institutions and quasi-indexers have a positive impact on liquidity, dedicated institutional ownership is negatively associated with liquidity. This result is consistent with prior theoretical studies. We also find that the effectiveness ofthe Regulation Fair Disclosure in improving liquidity is limited to firms with higher transient institutional ownership, whereas quasi-indexed institutions have not been significantly affected by the regulations. In fact, the liquidity of firms is lower for firms with higher dedicated institutional holdings, which is evidence of the "chilling effect".

Teachers' experiences and perceptions of voluntary committee work as a vehicle for leadership development

In response to a looming leadership shortage, leadership development for teachers has become an increasingly important area of interest around the world. A review of the literature identified the key components of educational leadership development programs as effective curriculum, leadership practice, relationship building, and reflection. A gap in the research was found regarding the use of voluntary committee work as a vehicle for leadership practice. The purpose of this study was to explore teachers' perceptions of their experiences within board-level committees to determine the key factors that contributed, positively or negatively, to their leadership,pevelopment. A qualitative research design was employed using semistructured interviews with 8 participants. The key findings included a list of factors perceived by teachers as either supporting or hindering their leadership development. The supporting factors were: (a) leadership practice, (b) mentors and role models, (c) relationships and networks, and (d) positive outcomes for students. The hindering factors were: (a) lack of follow through and support, (b) committee members with a careerist approach to the experience, (c) personal and political agendas, and (d) overcommitment leading to burnout. Recommendations for practice focused on strategies to enhanc~_ the committee experience as a tool for leadership development. Recommendations for theory and research suggested more research be done on each of the 8 key factors, perceptions associated with teachers choosing to follow a leadership path, and how school boards can structure the committee process as an effective leadership development tool. This study provides a starting point for educators to begin to intentionally design, develop, and deliver voluntary committee experiences as a tool for leadership development.