How to recognize opportunities: Heterarchical search in a Wall Street trading room

Our task in this paper is to analyze the organization of trading in the era of quantitativefinance. To do so, we conduct an ethnography of arbitrage, the trading strategy that bestexemplifies finance in the wake of the quantitative revolution. In contrast to value andmomentum investing, we argue, arbitrage involves an art of association - the constructionof equivalence (comparability) of properties across different assets. In place of essentialor relationa l characteristics, the peculiar valuation that takes place in arbitrage is based on an operation that makes something the measure of something else - associating securities to each other. The process of recognizing opportunities and the practices of making novel associations are shaped by the specific socio-spatial and socio-technical configurations of the trading room. Calculation is distributed across persons and instruments as the trading room organizes interaction among diverse principles of valuation.

Main Street Messenger, 2009, Vol. 2

News from Main Street Iowa and the Iowa Downtown Resource Center.

The policy relevance of wear emissions from road transport, now and in the future : an international workshop report and consensus statement

Road transport emissions are a major contributor to ambient particulate matter concentrations and have been associated with adverse health effects. Therefore, these emissions are targeted through increasingly stringent European emission standards. These policies succeed in reducing exhaust emissions, but do not address "nonexhaust" emissions from brake wear, tire wear, road wear, and suspension in air of road dust. Is this a problem? To what extent do nonexhaust emissions contribute to ambient concentrations of PM10 or PM2.5? In the near future, wear emissions may dominate the remaining traffic-related PM10 emissions in Europe, mostly due to the steep decrease in PM exhaust emissions. This underlines the need to determine the relevance of the wear emissions as a contribution to the existing ambient PM concentrations, and the need to assess the health risks related to wear particles, which has not yet received much attention. During a workshop in 2011, available knowledge was reported and evaluated so as to draw conclusions on the relevance of traffic-related wear emissions for air quality policy development. On the basis of available evidence, which is briefly presented in this paper, it was concluded that nonexhaust emissions and in particular suspension in air of road dust are major contributors to exceedances at street locations of the PM10 air quality standards in various European cities. Furthermore, wear-related PM emissions that contain high concentrations of metals may (despite their limited contribution to the mass of nonexhaust emissions) cause significant health risks for the population, especially those living near intensely trafficked locations. To quantify the existing health risks, targeted research is required on wear emissions, their dispersion in urban areas, population exposure, and its effects on health. Such information will be crucial for environmental policymakers as an input for discussions on the need to develop control strategies.

Long-range transport of Saharan dust to northern Europe: The 11-16 October 2001 outbreak observed with EARLINET

The spread of mineral particles over southwestern, western, and central Europeresulting from a strong Saharan dust outbreak in October 2001 was observed at10 stations of the European Aerosol Research Lidar Network (EARLINET). For the firsttime, an optically dense desert dust plume over Europe was characterized coherentlywith high vertical resolution on a continental scale. The main layer was located abovethe boundary layer (above 1-km height above sea level (asl)) up to 3–5-km height, andtraces of dust particles reached heights of 7–8 km. The particle optical depth typicallyranged from 0.1 to 0.5 above 1-km height asl at the wavelength of 532 nm, andmaximum values close to 0.8 were found over northern Germany. The lidar observationsare in qualitative agreement with values of optical depth derived from Total OzoneMapping Spectrometer (TOMS) data. Ten-day backward trajectories clearly indicated theSahara as the source region of the particles and revealed that the dust layer observed,e.g., over Belsk, Poland, crossed the EARLINET site Aberystwyth, UK, and southernScandinavia 24–48 hours before. Lidar-derived particle depolarization ratios,backscatter- and extinction-related A ° ngstro¨m exponents, and extinction-to-backscatterratios mainly ranged from 15 to 25%, 0.5 to 0.5, and 40–80 sr, respectively, within thelofted dust plumes. A few atmospheric model calculations are presented showing the dustconcentration over Europe. The simulations were found to be consistent with thenetwork observations.

Main Street Messenger, 2009, Vol. 3

News from the Iowa Downtown Resource Center and Main Street Iowa office.

Respiratory effects of an exposure to grain dust among grain workers in the Vaud region (Switzerland)

Introduction: Bioaerosols such as grain dust, via biologically active agents, elicit local inflammation and direct immunological reactions within the human respiratory system. Workplace-dependent exposure to grain dust (GD) may thus induce asthma, chronic bronchitis, and hypersensitivity pneumonitis. The aim of this study is to assess the clinical impact of occupational exposure to GD and to determine quantitative biological markers of bioaerosol exposure in grain workers. Methods: This longitudinal study has been conducted from summer 2012, to summer 2013, comprising 6 groups of 30 active workers with different GD exposure patterns (4 groups of grain workers, 2 control groups). After obtaining informed consent, two evaluations at high- and low-exposing seasons take place, during which an occupational history and a detailed medical history are questionnaire-assessed, lung function is evaluated by spirometry, airway inflammation is measured by exhaled nitric oxide (eNO), and specific blood IgG and IgE are titrated. The preliminary results presented hereafter are those of two of the four exposed groups, namely harvesters and mill workers, compared to the control groups, at first assessment (n=100). Results: Mean age is 38.4 [years]; 98% are male. Exposed groups differ from controls (p<0.05) in daily contact with animals (57% vs. 40%) and active smoking (39% vs. 11%). Grain workers have more respiratory (50%), nasal (57%), ocular (45%), dermatologic (36%) and systemic (20%) occupational symptoms than controls (6.4%, 19%, 16%, 6.4%, 1.6% respectively, p<0.05). Lower mean peak-expiratory-flow (PEF) values (96.1 ± 18.9 vs. 108.2 ± 17.4 [% of predicted], p<0.05) and eNO values (13.9 ± 9.6 vs. 20.5 ± 14.7 [ppm], p<0.05) are observed in the exposed groups. Conclusion: Preliminary results show a higher prevalence of clinical symptoms and a lower mean PEF value in the exposed groups. Detailed supplementary analyses are pending.

Correlation of Der p 2 T-cell responses with clinical characteristics of children allergic to house dust mite.

BACKGROUND: An understanding of the mechanisms responsible for the development and maintenance of allergic inflammation and their clinical implications is needed to develop specific and successful treatment for allergy. OBJECTIVES: To characterize in vitro T-cell responses to Der p 2, one of the major allergens of house dust mite (HDM), and investigate potential correlations between clinical and laboratory parameters. METHODS: Forty-two patients monosensitized to HDM and 10 age-matched, healthy children were studied. Dendritic cells pulsed with Der p 2 were used to stimulate autologous CD14(-) cells. Der p 2-specific T-cell activation markers, proliferation, and cytokine production profiles were examined. RESULTS: Der p 2-specific T-cell activation markers, proliferation, and T(H)2 cytokine production were significantly higher in HDM patients compared with healthy controls. Moreover, a significant correlation between proliferation and T(H)2 cytokine production was observed. Within the allergic group, skin reaction to HDM was significantly stronger in patients with a Der p 2-specific T-cell response. Levels of HDM-specific IgE directly correlated with interleukin 5 and interleukin 13 levels and with skin prick test results and, ultimately, with the patient's family history of allergy. Furthermore, the presence of atopic march correlated with T-cell proliferation. CONCLUSION: We found that, in HDM patients, Der p 2-specific T(H)2 responses, promoted by autologous dendritic cells in vitro, correlate with clinical parameters.

Main Street Messenger, February 2011, Vol, 1

Main Street Messenger is a newsletter about the happenings that area going on in towns across Iowa. From shows to the start fair information this newsletter has many great informational pieces about Iowa towns.

Main Street Messenger, 2011 Vol. 2

Main Street Iowa News from the Iowa Downtown Resource Center of the Iowa Department of Economic Development

Celebrating 20 Years, Main Street Iowa, 20 Year Report, 1986-2006.

The Main Street Four Point Approach® is a proven development process and has provided both focus and opportunity to Iowa’s participating cities. Collectively, these progressive communities have documented thousands of volunteer hours and millions of dollars in private investment into the revitalization of their historic city centers.

Main Street Messenger, February 2012, Vol. 1

News from Main Street Iowa