Incentives to underprice

an initial public offering, the choices made by issuers, such as the offer price, might not appear to be wealth maximizing. In this article, we argue that the choices are strategic. Based on the model developed by Barry (1989), we show that the average change in the issuer's wealth (4.52 per cent) is lower than the average loss implied by underpricing (12.09 per cent). Our results support the notion that the choices issuers make at the offering generate a compensatory benefit in the aftermarket. That the issuer may well not suffer a net wealth loss from the offering is in accordance with continued initial public offering activity.

Jack's Bay (the architecturalisation of memory)

Jack's Bay (the architecturalisation of memory) is a key work of the author's exhibition Lightsite, which toured Western Australian galleries from February 2006 to November 2007. It is a five-minute-long exposure photographic image captured inside a purpose-built, room-sized pinhole camera which is demountable and does not have a floor. The work depicts octogenarian Jack Morris, who for forty years held the professional salmon fishing license in the hamlet of Bremer Bay, on the SE coast of Western Australia. The pinhole camera-room is sited within sand dunes new Jack's now demolished beachside camp. Three generations of Jack's descendents stand outside the room - from his daughter to his great grand children. The light from this exterior landscape is 'projected' inside the camera-room and illuminates the interior scene which includes that part of the sand dune upon which the floorless room is erected, along with Jack who is sitting inside. The image evokes the temporality of light. Here, light itself is portrayed as the primary medium through which we both perceive and describe landscape. In this way it is through the agency of light that we construct our connectivity to landscape.

Relaxin stimulates leukocyte adhesion and migration through a relaxin receptor LGR7-dependent mechanism

Leukocytes are critical effectors of inflammation and tumor biology. Chemokine-like factors produced by such inflammatory sites are key mediators of tumor growth that activate leukocytic recruitment and tumor infiltration and suppress immune surveillance. Here we report that the endocrine peptide hormone, relaxin, is a regulator of leukocyte biology with properties important in recruitment to sites of inflammation. This study uses the human monocytic cell line THP-1 and normal human peripheral blood mononuclear cells to define a novel role for relaxin in regulation of leukocyte adhesion and migration. Our studies indicate that relaxin promotes adenylate cyclase activation, substrate adhesion, and migratory capacity of mononuclear leukocytes through a relaxin receptor LGR7-dependent mechanism. Relaxin-stimulated cAMP accumulation was observed to occur primarily in non-adherent cells. Relaxin stimulation results in increased substrate adhesion and increased migratory activity of leukocytes. In addition, relaxin-stimulated substrate adhesion resulted in enhanced chemotaxis to monocyte chemoattractant protein-1. These responses in THP-1 and peripheral blood mononuclear cells are relaxin dose-dependent and proportional to cAMP accumulation. We further demonstrate that LGR7 is critical for mediating these biological responses by use of RNA interference lentiviral short hairpin constructs. In summary, we provide evidence that relaxin is a novel leukocyte stimulatory agent with properties affecting adhesion and chemomigration

The spermostatic and microbicidal actions of quinones and malemides : towards a dual-purpose contraceptive agent

There is an urgent need to develop safe, effective, dual-purpose contraceptive agents that combine the prevention of pregnancy with protection against sexually transmitted diseases. Here we report the identification of a group of compounds that on contact with human spermatozoa induce a state of “spermostasis,” characterized by the extremely rapid inhibition of sperm movement without compromising cell viability. These spermostatic agents were more active and significantly less toxic than the reagent in current clinical use, nonoxynol 9, giving therapeutic indices (ratio of spermostatic to cytotoxic activity) that were orders of magnitude greater than this traditional spermicide. Although certain compounds could trigger reactive oxygen species generation by spermatozoa, this activity was not correlated with spermostasis. Rather, the latter was associated with alkylation of two major sperm tail proteins that were identified as A Kinase-Anchoring Proteins (AKAP3 and AKAP4) by mass spectrometry. As a consequence of disrupted AKAP function, the abilities of cAMP to drive protein kinase A-dependent activities in the sperm tail, such as the activation of SRC and the consequent stimulation of tyrosine phosphorylation, were suppressed. Furthermore, analysis of microbicidal activity using Chlamydia muridarum revealed powerful inhibitory effects at the same low micromolar doses that suppressed sperm movement. In this case, the microbicidal action was associated with alkylation of Major Outer Membrane Protein (MOMP), a major chlamydial membrane protein. Taken together, these results have identified for the first time a novel set of cellular targets and chemical principles capable of providing simultaneous defense against both fertility and the spread of sexually transmitted disease.

Gonadotropin-induced ovarian cancer cell migration and proliferation require extracellular signal-regulated kinase 1/2 activation regulated by calcium and protein kinase Cδ

The gonadotropin hypothesis proposes that elevated serum gonadotropin levels may increase the risk of epithelial ovarian cancer (EOC). We have studied the effect of treating EOC cell lines (OV207 and OVCAR-3) with FSH or LH. Both gonadotropins activated the mitogen-activated protein kinase (MAPK)/extracellular signal-regulated kinase 1/2 (ERK1/2) pathway and increased cell migration that was inhibited by the MAPK 1 inhibitor PD98059. Both extra- and intracellular calcium ion signalling were implicated in gonadotropin-induced ERK1/2 activation as treatment with either the calcium chelator EGTA or an inhibitor of intracellular calcium release, dantrolene, inhibited gonadotropin-induced ERK1/2 activation. Verapamil was also inhibitory, indicating that gonadotropins activate calcium influx via L-type voltage-dependent calcium channels. The cAMP/protein kinase A (PKA) pathway was not involved in the mediation of gonadotropin action in these cells as gonadotropins did not increase intracellular cAMP formation and inhibition of PKA did not affect gonadotropin-induced phosphorylation of ERK1/2. Activation of ERK1/2 was inhibited by the protein kinase C (PKC) inhibitor GF 109203X as well as by the PKCδ inhibitor rottlerin, and downregulation of PKCδ was inhibited by small interfering RNA (siRNA), highlighting the importance of PKCδ in the gonadotropin signalling cascade. Furthermore, in addition to inhibition by PD98059, gonadotropin-induced ovarian cancer cell migration was also inhibited by verapamil, GF 109203X and rottlerin. Similarly, gonadotropin-induced proliferation was inhibited by PD98059, verapamil, GF 109203X and PKCδ siRNA. Taken together, these results demonstrate that gonadotropins induce both ovarian cancer cell migration and proliferation by activation of ERK1/2 signalling in a calcium- and PKCδ-dependent manner.

Violent urbanism is us

This paper explores violent urbanism in the recent science-fiction filem District 9 whhich depicts an alien immigration camp, filmed on location in Soweto in 2008 in the midst of a series of violent clashed between indigenous South Africans and the new wave of African immigrants. Violent Urbanism is the State of method of control of bodies and populations by those precise biological techniques that determine geopolitical sites for the control of cities. This film while presented as cinema verite speaks the real invasion of traditional, spatio-disciplinary regimes such as corporate-run detention centres, refugee camps, border control and enforced relocation by those imperceptible techniques which violate the body by reducing it to a biological datum, tool, or specimen to serve the security agenda of the twenty-first century nation-state. These techniques are chemical and biological warfare proliferation; genetic engineering; and surveillance systems, such as biometrics, whose purview is no longer limited to the specular but includes the molecular. District 9 evinces a compelling urban image of contemporary biopolitics that disturbs the received historiography of post-apartheid urbanism. Clearly Johannesburg is not the only place this could or is happening - the reach of biopolitics is worldwide. District 9 visualises with utter precision the corporate hijacking of the biological realm in contemporary cites, just as it asks the unsettling question, who exactly is the "audience" of Violent Urbanism?

Action research as foresight methodology

To the action researcher, who laboriously spends his or her hours working within the local contexts of communities or organisations to co-generate meaningful research, and who’s theories are hardened on the anvil of creating meaningful social change; futures studies might seem the discipline the most peripheral to its interests, and the most ill equipped to deal with the local and intimate domain of community existence. To the futurist, who laboriously spends his or her hours understanding the nuances of history and social change, who through persistent work, begins to make sense of the weak signals and the subtle shifts, action research would seem as simply an auxiliary field, inappropriate for understanding the greater scheme. I invite the reader, however, whether they belong to one camp or the other, to let go of their respective disciplinary perspectives, and see both belonging to each other. [Introduction] .

Bin Laden in the Suburbs: Criminalising the Arab Other

This book examines public worrying over 'ethnic crime' and what it tells us about Australia today. How, for instance, can the blame for a series of brutal group sexual assaults in Sydney be so widely attributed to whole ethnic communities? How is it that the arrival of a foundering boatload of asylum-seekers mostly seeking refuge from despotic regimes in 'the Middle East' can be manipulated to characterise complete cohorts of applicants for refuge 'and their immigrant compatriots' as dangerous, dishonest, criminally inclined and inhuman? How did the airborne terror attacks on the USA on 11 September 2001 exacerbate existing tendencies in Australia to stereotype Arabs and Muslims as backward, inassimilable, without respect for Western laws and values, and complicit with barbarism and terrorism? Bin Laden in the Suburbs argues that we are witnessing the emergence of the 'Arab Other' as the pre-eminent 'folk devil' of our time. This Arab Other functions in the national imaginary to prop up the project of national belonging. It has little to do with the lived experiences of Arab, Middle Eastern or Muslim Australians, and everything to do with a host of social anxieties which overlap in a series of moral panics. Bin Laden in the Suburbs analyses a decisive moment in the history of multiculturalism in Australia. 'Unlike most migrants, the Arab migrant is a subversive will ... They invade our shores, take over our neighbourhood and rape our women. They are all little bin Ladens and they are everywhere: Explicit bin Ladens and closet bin Ladens; Conscious bin Ladens and unconscious bin Ladens; bin Ladens on the beach and bin Ladens in the suburbs, as this book is aptly titled. Within this register ... even a single Arab is a threat. Contain the Arab or exterminate the Arab? A 'tolerable' presence in the suburbs, or caged in a concentration camp? ... The politics of the Western post-colonial state is constantly and dangerously oscillating between these tendencies today. It is this dangerous oscillation that is so lucidly exposed in this book'.

Self-identified experts lost on the interwebs

Security cues found in web browsers are meant to alert users to potential online threats, yet many studies demonstrate that security indicators are largely ineffective in this regard. Those studies have depended upon self-reporting of subjects' use or aggregate experimentation that correlate responses to sites with and without indicators. We report on a laboratory experiment using eye-tracking to follow the behavior of self-identified computer experts as they share information across popular social media websites. The use of eye-tracking equipment allows us to explore possible behavioral differences in the way experts perceive web browser security cues, as opposed to non-experts. Unfortunately, due to the use of self-identified experts, technological issues with the setup, and demographic anomalies, our results are inconclusive. We describe our initial experimental design, lessons learned in our experimentation, and provide a set of steps for others to follow in implementing experiments using unfamiliar technologies, eye-tracking specifically, subjects with different experience with the laboratory tasks, as well as individuals with varying security expertise. We also discuss recruitment and how our design will address the inherent uncertainties in recruitment, as opposed to design for an ideal population. Some of these modifications are generalizable, together they will allow us to run a larger 2x2 study, rather than a study of only experts using two different single sign-on systems.

Learning and assessment in Australia

Camp Kilda (CK) is regarded as being a quality early childhood center, and has many features you would typically expect to see in settings across Australia. The children are busily engaged in hands-on activity, playing indoors and outdoors, in the sandpit, under the shade of a big mango tree. The learning environment is planned to offer a variety of activities, including dramatic play, climbing equipment, balls, painting, drawing, clay, books, blocks, writing materials, scissors, manipulative materials. The children are free to access all the materials, and they play either individually or in small groups. The teachers encourage and stimulate the children’s learning, through interactions and thoughtful planning. Learning and assessment at CK is embedded within the cultural and social contexts of the children and their community. Children’s learning is made visible through a rich variety of strategies, including recorded observations, work samples, photographs, and other artifacts. Parents are actively encouraged to build on these “stories” of their children. Planning is based around the teachers’ analysis of the information they gather daily as they interact with the children and their families.

Comparative eye tracking of experts and novices in web single sign-on

Security indicators in web browsers alert users to the presence of a secure connection between their computer and a web server; many studies have shown that such indicators are largely ignored by users in general. In other areas of computer security, research has shown that technical expertise can decrease user susceptibility to attacks. In this work, we examine whether computer or security expertise affects use of web browser security indicators. Our study takes place in the context of web-based single sign-on, in which a user can use credentials from a single identity provider to login to many relying websites; single sign-on is a more complex, and hence more difficult, security task for users. In our study, we used eye trackers and surveyed participants to examine the cues individuals use and those they report using, respectively. Our results show that users with security expertise are more likely to self-report looking at security indicators, and eye-tracking data shows they have longer gaze duration at security indicators than those without security expertise. However, computer expertise alone is not correlated with recorded use of security indicators. In survey questions, neither experts nor novices demonstrate a good understanding of the security consequences of web-based single sign-on.

Michel Foucault : the unconscious of history and culture

Michel Foucault: The unconscious of history and culture The French thinker, Michel Foucault (1926–84), is noted for his extensive and controversial forays into the historical disciplines. When his work first began to circulate in the 1950s and 1960s, historians did not quite know what to make of it and philosophers resented the appearance of what they saw as the importation of the tedium of concrete events into the pure untainted realm of ideas. If these responses to his work remain alive and well decades after Foucault's death, the uptake of his work has become far more complex. To restrict ourselves to the discipline of history here: if one very visible and vocal camp of historians remains deeply ambivalent about his work, this merely disguises the fact that a far larger contingent of historians of all kinds – not just those located in history departments – use his ideas quite unremarkably ...

Rates of attendance at a smoking cessation clinic within a cardiac rehabilitation service

Objectives: Smoking cessation has been shown to be an important intervention for preventing cardiovascular events and improving the health of patients with heart disease. However, unaided quit attempts in these patients often leads to high rates of failure and a return to smoking. Outpatient smoking cessation clinics using face-to-face counseling, ongoing behavioral support, advice on smoking pharmacotherapy and objective monitoring, have been found to be one of the most effective interventions for improving quit smoking rates. An outpatient smoking cessation clinic was trialed within a cardiac rehabilitation service in order to explore its effects on smoking rates for patients with or at risk of heart disease. Attendance rates to the clinic were also monitored. Methods: A descriptive exploratory design was used for this newly developed clinic. Patients who currently smoked tobacco and who had a history of either coronary artery disease, heart failure, atrial fibrillation or those seen under a chest pain assessment service were invited to an outpatient ‘Cardiac Patients Smokers Clinic’. Initially patients were offered up to 10 clinic visits over a 3 month period. Follow-up clinic visits were conducted at 3, 6 and 12 months. A portable carbon monoxide meter was used to objectively measure levels of smoking and validate smoking abstinence. Primary outcomes included rates of attendance. Results: Preliminary findings showed 24 per cent of participants (N = 6) completed all their clinic visits and remained smoke free as measured by their ongoing expired carbon monoxide readings. Clinic attendance rates appeared lowest for those with significant mental health issues such as schizophrenia or substance abuse. However, rates of attendance were improved by having an administration officer make reminder telephone calls prior to clinic visits. Conclusions: Early findings indicate the feasibility of providing a specialist smoking cessation clinic within a cardiac rehabilitation service. Further, that reminder telephone calls prior to appointments improved attendance rates in patients with heart disease to this type of clinic. However, future investigations are warranted.