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Impacts of tourism Tourism brings both positive and negative impacts on tourist destinations. The traditionally-described domains of tourism impacts are economic, socio-cultural, and environmental dimensions.
Operation Mincemeat Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Special Activities Center The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Special operations Special operations (S.O.) are military activities conducted, according to NATO, by "specially designated, organized, selected, trained, and equipped forces using unconventional techniques and modes of employment". Special operations may include reconnaissance, unconventional warfare, and counter-terrorism actions, and are typically conducted by small groups of highly-trained personnel, emphasizing sufficiency, stealth, speed, and tactical coordination, commonly known as "special forces".
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Arrested Development Arrested Development is an American television sitcom created by Mitchell Hurwitz, which originally aired on Fox for three seasons from 2003 to 2006, followed by a two-season revival on Netflix from 2013 to 2019. The show follows the Bluths, a formerly wealthy dysfunctional family.
Development/For! Development/For! (Latvian: Attīstībai/Par!, AP!) is a liberal political alliance in Latvia.
Management development Management development is the process by which managers learn and improve their management skills.\n\n\n== Background ==\nIn organisational development, management effectiveness is recognized as a determinant of organisational success.
Research and development Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process.
Professional development Professional development is learning to earn or maintain professional credentials such as academic degrees to formal coursework, attending conferences, and informal learning opportunities situated in practice. It has been described as intensive and collaborative, ideally incorporating an evaluative stage.
Customer relationship management Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.CRM systems compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus retaining customers and driving sales growth.
Adam Adam is the name given in Genesis 1-5 to the first human. Beyond its use as the name of the first man, adam is also used in the Bible as a pronoun, individually as "a human" and in a collective sense as "mankind".
English football league system The English football league system, also known as the football pyramid, is a series of interconnected leagues for men's association football clubs in England, with five teams from Wales, one from Guernsey, one from Jersey and one from the Isle of Man also competing. The system has a hierarchical format with promotion and relegation between leagues at different levels, allowing even the smallest club the theoretical possibility of ultimately rising to the very top of the system.
Surgical instrument A surgical instrument is a tool or device for performing specific actions or carrying out desired effects during a surgery or operation, such as modifying biological tissue, or to provide access for viewing it. Over time, many different kinds of surgical instruments and tools have been invented.
UEFA Champions League The UEFA Champions League (abbreviated as UCL) is an annual club football competition organised by the Union of European Football Associations (UEFA) and contested by top-division European clubs, deciding the competition winners through a round robin group stage to qualify for a double-legged knockout format, and a single leg final. It is one of the most prestigious football tournaments in the world and the most prestigious club competition in European football, played by the national league champions (and, for some nations, one or more runners-up) of their national associations.
Sentience Sentience is the capacity to experience feelings and sensations. The word was first coined by philosophers in the 1630s for the concept of an ability to feel, derived from Latin sentientem (a feeling), to distinguish it from the ability to think (reason).
The Market for Lemons The Market for Lemons: Quality Uncertainty and the Market Mechanism is a widely-cited 1970 paper by economist George Akerlof which examines how the quality of goods traded in a market can degrade in the presence of information asymmetry between buyers and sellers, leaving only "lemons" behind. In American slang, a lemon is a car that is found to be defective after it has been bought.
Reductions Reductions (Spanish: reducciones, also called congregaciones; Portuguese: redução, pl. reduções) were settlements created by Spanish rulers and Roman Catholic missionaries in Spanish America and the Spanish East Indies (the Philippines).
Reductionism Reductionism is any of several related philosophical ideas regarding the associations between phenomena, which can be described in terms of other simpler or more fundamental phenomena. It is also described as an intellectual and philosophical position that interprets a complex system as the sum of its parts.
Log-space reduction In computational complexity theory, a log-space reduction is a reduction computable by a deterministic Turing machine using logarithmic space. Conceptually, this means it can keep a constant number of pointers into the input, along with a logarithmic number of fixed-size integers.
Phonological history of English consonant clusters The phonological history of the English language includes various changes in the phonology of consonant clusters.\n\n\n== H-cluster reductions ==\n\nThe H-cluster reductions are various consonant reductions that have occurred in the history of English, involving consonant clusters beginning with /h/ that have lost the /h/ (or become reduced to /h/) in some or all dialects.
Voluntary Emission Reduction Voluntary Emission Reductions or Verified Emission Reductions (VERs) are a type of carbon offset exchanged in the voluntary or over-the-counter market for carbon credits. Verified Emission Reductions are usually certified through a voluntary certification process.Verified Emission Reductions are usually created by projects which have been verified outside of the Kyoto Protocol.
Reduction (complexity) In computability theory and computational complexity theory, a reduction is an algorithm for transforming one problem into another problem. A sufficiently efficient reduction from one problem to another may be used to show that the second problem is at least as difficult as the first.
Turing reduction In computability theory, a Turing reduction from a decision problem \n \n \n \n A\n \n \n {\displaystyle A}\n to a decision problem \n \n \n \n B\n \n \n {\displaystyle B}\n is an oracle machine which decides problem \n \n \n \n A\n \n \n {\displaystyle A}\n given an oracle for \n \n \n \n B\n \n \n {\displaystyle B}\n (Rogers 1967, Soare 1987). It can be understood as an algorithm that could be used to solve \n \n \n \n A\n \n \n {\displaystyle A}\n if it had available to it a subroutine for solving B. The concept can be analogously applied to function problems.
Sarbanes–Oxley Act The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations.\nThe act, (Pub.L. 107–204 (text) (PDF), 116 Stat.
Investor relations Investor relations (IR) is a strategic management responsibility that is capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial community, and other constituencies, which ultimately contributes to a company's securities achieving fair valuation. (Adopted by the NIRI board of directors, March 2003.) The term describes the department of a company devoted to handling inquiries from shareholders and investors, as well as others who might be interested in a company's stock or financial stability.
Information technology controls In business and accounting, information technology controls (or IT controls) are specific activities performed by persons or systems designed to ensure that business objectives are met. They are a subset of an enterprise's internal control.
Whistleblower protection in the United States A whistleblower is a person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization that is either private or public. The Whistleblower Protection Act was made into federal law in the United States in 1989.
Risk Factors
AETRIUM INC ITEM 1A RISK FACTORS Several important risks and uncertainties exist which could have an impact on our future operating results
These factors could cause our actual results to differ materially from our anticipated results or results that are reflected in any forward-looking statements in this Annual Report on Form 10-K These factors, and their impact on the success of our operations and our ability to achieve our goals, include the following: Market Fluctuations in the Semiconductor Industry Our business and results of operations depend upon capital expenditures by manufacturers of ICs and discrete electronic devices
As a result, our operating results are materially dependent upon economic and business conditions in the semiconductor industry
This industry has been subject to significant market fluctuations and has experienced periodic downturns, which often have had a disproportionate effect on capital equipment suppliers, such as Aetrium
In periods of excess capacity, the semiconductor industry sharply reduces purchases of capital equipment, such as our products
A downturn or slowdown in the semiconductor industry could substantially reduce our revenues and operating results and could harm our financial condition
There has been a trend of increasing revenues in the TAP segment of the 9 _________________________________________________________________ [61]Table of Contents semiconductor equipment industry that began in the third quarter of 2005
This trend may not continue and a reversal of this trend could have a material and adverse impact on our operations
Successful Development and Introduction of New Products and Product Improvements We operate in an industry that is highly competitive with respect to timely product innovations
The market for our products is characterized by rapid technological change and evolving industry standards
The development of more complex ICs has driven the need for new equipment and processes to produce such devices at an acceptable cost
We believe that our future success will depend in part upon our ability to anticipate and respond rapidly to changes in technologies, IC and discrete electronic device package types, market trends and industry standards
If we cannot successfully develop and introduce new and enhanced cost-effective products on a timely basis that are accepted in the marketplace, our business and operating results would likely suffer
A reduction, delay or cancellation of orders from one or more of these significant customers, or the loss of one or more of these customers, would likely have a negative impact on our operating results
Impact of Competitive Markets The markets for all of our main product lines are highly competitive
Some of our competitors have substantially greater financial, manufacturing, marketing and product development resources than we have
For most of our customers, we are not the sole supplier of our type of equipment
In addition, it is common for customers to evaluate more than one supplier’s equipment for their emerging requirements
Accordingly, we are at significant risk to lose orders to competing suppliers, and even to being displaced as a supplier at potentially significant customers, which would likely have a negative impact on our operating results
Fixed Cost Constraints on Reduction of Expenses Many of our expenses, particularly those relating to properties, capital equipment and certain manufacturing overhead items, are fixed in the short term
Accordingly, reduced demand for our products and services causes our fixed production costs to be allocated across reduced production volumes, which negatively affects our gross margins and profitability
Our ability to reduce expenses is further constrained because we must continue to invest in research and development to maintain our competitive position and to maintain service and support for our existing customer base
Accordingly, in the event of a reduction in our revenues, resulting from an industry downturn or otherwise, we may not be able to maintain profitable operations
Impact of Cost Reduction Actions In the event of a sustained downturn and continuing decline in our revenues, we may implement cost reduction actions, such as workforce reductions, consolidation of operations, pay freezes and reductions, and reductions in other expenditures
In doing so, we would attempt to maintain the necessary infrastructures to allow us to take full advantage of subsequent improvements in conditions
However, there can be no assurance that reductions we may have made in personnel and expenditure levels and the loss of the capabilities of personnel we may have terminated would not inhibit us in the timely completion of product development efforts, the effective service of and responsiveness to customer requirements, and the timely ramp up of production in response to improving market conditions
10 _________________________________________________________________ [62]Table of Contents Impact of Changes in Securities Laws and Regulations We have made, and will need to continue to make, changes in our corporate governance and securities disclosure and compliance practices as a result of the Sarbanes-Oxley Act of 2002
The SEC and the NASD have enacted, and we expect will continue to enact, new rules on a variety of subjects as a result of the Sarbanes-Oxley Act of 2002
While we believe that we can ultimately comply with the new legislated requirements associated with being a public company, compliance with the Sarbanes-Oxley Act of 2002 will increase our costs and may present new challenges and risks
These developments could also possibly make it more difficult and more expensive to obtain director and officer liability insurance
We may be required to accept reduced coverage or incur substantially higher costs to obtain coverage for our officers and directors, which may make it more difficult for us to attract and retain qualified board members or executive officers
We are currently evaluating and monitoring regulatory developments and cannot estimate the timing or magnitude of additional costs that may be incurred as a result of the Sarbanes-Oxley Act of 2002
Reduction in the Sales Efforts by our Current Distributors We market and sell our test handlers and reliability test products outside of the United States primarily through international distributors that are not under our direct control
We have limited internal sales personnel
A reduction in the sales efforts by our current distributors, or the termination of one or more of these relationships with Aetrium, could negatively affect our operating results
Risks Inherent in our International Sales We expect that international sales will continue to account for a significant portion of our net sales
As a result, our operations are subject to a number of risks inherent in conducting business internationally, which if any of them occur could negatively impact our operating results
Supply of Significant Components for our Products Certain significant components used in our products, including certain contactor components, printed circuit boards, and refrigeration systems, are currently available only from sole or limited sources
We do not maintain long-term supply agreements with most of our suppliers and we purchase most of our components through individual purchase orders
Our inability to obtain components in required quantities or of acceptable quality could result in delays or reductions in our product introductions or shipments, which could damage our relationships with our customers and cause our operating results to suffer