A new genus of Rhynchonellid Brachiopod from the Lower Triassic of South China and Implications for timing the recovery of Brachiopoda after the end-Permian mass extinction

A new genus, Meishanorhynchia, is proposed based on new material from the Lower Triassic of the Meishan section, South China. It is of a late Griesbachian age based on both associated biozones (ammonoids and
bivalves) and radiometric dates of the intercalated volcanic ash beds. Comparison with both Palaeozoic and Mesozoic-Cenozoic-related genera suggests that it may represent the first radiation of progenitor brachiopods in the aftermath of the end-Permian extinction. The lowest brachiopod horizon that contains the genus is estimated to be about 250.1±0.3 Ma. This implies that the initial stage of recovery of Brachiopoda in the Early Triassic was probably about 1.3±0.3 myr after the major pulse of the end-Permian mass extinction (dated as 251.4±0.3 Ma). This is in agreement with Hallam's expectancy that biotic recovery typically begins within one million years or so of major mass extinctions, in contrast to current views on the end-Permian extinction event which propose that the recovery of most if not all biotic groups in the Early Triassic was severely delayed and only began about five million years after the end-Permian extinction.

The roles of prior experience and the timing of misinformation presentation on young children's event memories

The current study addressed how the timing of interviews affected children's memories of unique and repeated events. Five- to six-year-olds (N= 125) participated in activities 1 or 4 times and were misinformed either 3 or 21 days after the only or last event. Although single-experience children were subsequently less accurate in the 21- versus 3-day condition, the timing of the misinformation session did not affect memories of repeated-experience children regarding invariant details. Children were more suggestible in the 21- versus 3-day condition for variable details when the test occurred soon after misinformation presentation. Thus, timing differentially affected memories of single and repeated events and depended on the combination of event-misinformation and misinformation-test delays rather than the overall retention interval.

Recolonisation of powerline corridor vegetation by small mammals : timing and the influence of vegetation management

Powerline corridors through forested ecosystems have been criticised due their potential to fragment the landscape and facilitate the intrusion of undesirable species into natural areas. This study investigates the effects of vegetation management (slashing), on: (1) timing of small mammal recolonisation; (2) vegetation characteristics that drive small mammal responses; and (3) the point where corridor resources are sufficient to provide functional habitat for native species. Small mammal trapping was undertaken within Bunyip State Park, Australia, across three sites, once a month from January 2001 to May 2002 and every 2 months thereafter until January 2004. Changes in vegetation around each trap station were assessed annually in the forest and bi-annually in the corridor. Principal components analysis on the vegetation structural complexity values produced factors for use in species abundance models. Native small mammal species recolonised the corridor 1.5–3.5 years after management and the corridor supported a breeding population of small mammals around 2.5 years post-management. Males however, generally recolonised the corridor first, resulting in a sex-biased population in these areas. Species corridor habitat models for five native and one introduced species suggested cover and shelter were more important in determining corridor use than plant species per se. Powerline corridors have the potential to create a mixture of different successional stages, enhancing habitat availability for many species. However, the intensity of current management needs to be reduced and an integrated approach to management needs to be undertaken if powerline corridors are to continuously provide habitat for native small mammal species.

The purchasing of naming rights for sports stadiums : a harbinger of bad corporate governance or just bad timing?

The literature on corporate governance and the market’s delayed reaction to news events proliferated over the last two decades. This paper examines return patterns surrounding the event date for firms purchasing naming rights for North American sports stadiums. One argument appearing in the financial press is that such acquisitions are a harbinger of widespread corporate mismanagement and hubris at the highest levels of corporate governance. Purchases of stadium naming rights provide sidebenefits to executives such as “being in the limelight” and the use of supplementary corporate boxes. Thus, management has a strong incentive to undertake such investments even if their decision is not value enhancing to shareholders. The extent to which these agreements are associated with negative risk-adjusted returns is an empirical question, which this study addresses. On average, negative riskadjusted returns are observed over the three years following the event date, and these results are significant at standard levels of significance. The efficient market hypothesis suggests that these results are not due to a cause and effect relationship but represent data snooping or just bad timing.

Directors' timing is too good

Research from Deakin University has shown that some directors have earned abnormal returns after selling shares in their own companies, leading one of the researchers, Harminder Singh, to argue that the Australian Securities and Investments Commission 'may want to pay closer scrutiny to the trading activities of directors of small and medium companies.

Latest Guadalupian brachiopods from the Guadalupian/Lopingian boundary GSSP section at Penglaitan in Laibin, Guangxi, South China and implications for the timing of the pre-Lopingian crisis

A brachiopod fauna comprising nine species in eight genera from three closely spaced stratigraphic horizons of the same stratigraphic section is described for the first time from the Laibin Limestone in the uppermost part of the Maokou Formation in the Guadalupian/Lopingian (G/L) GSSP section at Penglaitan, Guangxi Autonomous Region, South China. The brachiopod assemblages are bracketed between two conodont zones: Jinogondolella xuanhanensis Zone below and Jinogondolella granti Zone above and, therefore, they can be safely assigned to the latest Capitanian in age. However, all but one of the nine brachiopod species from the Laibin Limestone carry strong early Lopingian (Wuchiapingian) aspect. Thus, the discovery of this brachiopod fauna not only suggests that some Lopingian brachiopod species had already appeared in the late Guadalupian (Capitanian); more importantly, it has also highlighted the fact that both the previously noted pre-Lopingian life crisis (or end-Guadalupian or Middle Permian mass extinction) and Lopingian recovery/radiation actually occurred in late Capitanian times, sometime before the G/L chronostratigraphic boundary. So far, the Penglaitan GSSP section provides the highest-resolution disappearance patterns of different fossil groups around the G/L boundary.