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Wiki Wiki Summary
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
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.
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.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Operations director The role of operations director generally encompasses the oversight of operational aspects of company strategy with responsibilities to ensure operation information is supplied to the chief executive and the board of directors as well as external parties.\n\n\n== Description ==\nThe role of operations director can vary according to the size of a company, and at some companies many even encompass some or all the functions of a chief operating officer.The Institute of Directors of the United Kingdom defines the role as overseeing "all operational aspects of company strategy" and "responsible for the flow of operations information to the chief executive, the board and, where necessary, external parties such as investors or financial institutions".
Federal Express Flight 705 On April 7, 1994, Federal Express Flight 705, a McDonnell Douglas DC-10-30 cargo jet carrying electronics equipment across the United States from Memphis, Tennessee, to San Jose, California, was involved in a hijack attempt by Auburn R. Calloway, who the prosecution argued was trying to commit suicide. Calloway, a Federal Express employee, was facing possible dismissal for lying about his flight hours.
FedEx Express Federal Express Corporation, branded as FedEx Express, is a major American cargo airline based in Memphis, Tennessee, United States. As of 2020, it is one of the world's largest airlines in terms of fleet size and freight tons flown.
Federal Express (train) The Federal Express (after April 1939, officially known as just the Federal) was an overnight named passenger train run by the Pennsylvania Railroad and the New York, New Haven and Hartford Railroad between Washington, DC's Union Station and Boston, Massachusetts's South Station from 1912 to 1971. At different times, its route has taken it across the Hudson River via a car float between Port Morris and Jersey City (the ferry Maryland), the Poughkeepsie Bridge, and finally the Pennsylvania Tunnel and Terminal Railroad.
Express mail Express mail is an expedited mail delivery service for which the customer pays a premium for faster delivery. Express mail is a service for domestic and international mail, and is in most nations governed by the country's own postal administration.
Dassault Falcon 20 The Dassault Falcon 20 is a French business jet developed and manufactured by Dassault Aviation. The first business jet developed by the firm, it became the first of a family of business jets to be produced under the same name; of these, both the smaller Falcon 10 and the larger trijet Falcon 50 were direct derivatives of the Falcon 20.
St. Jude Classic The FedEx St. Jude Classic was a professional golf tournament held in Memphis, Tennessee as a regular event on the PGA Tour.
Non-disclosure agreement A non-disclosure agreement (NDA), also known as a confidentiality agreement (CA), confidential disclosure agreement (CDA), proprietary information agreement (PIA), secrecy agreement (SA), or non-disparagement agreement, is a legal contract or part of a contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to. Doctor–patient confidentiality (physician–patient privilege), attorney–client privilege, priest–penitent privilege and bank–client confidentiality agreements are examples of NDAs, which are often not enshrined in a written contract between the parties.
Good Friday Agreement The Good Friday Agreement (GFA), or Belfast Agreement (Irish: Comhaontú Aoine an Chéasta or Comhaontú Bhéal Feirste; Ulster-Scots: Guid Friday Greeance or Bilfawst Greeance), is a pair of agreements signed on 10 April 1998 that ended most of the violence of the Troubles, a political conflict in Northern Ireland that had ensued since the late 1960s. It was a major development in the Northern Ireland peace process of the 1990s.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Financial accounting Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.
Futures contract In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument.
International Financial Reporting Standards International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries.
4–4–5 calendar The 4–4–5 calendar is a method of managing accounting periods, and is a common calendar structure for some industries such as retail and manufacturing. It divides a year into four quarters of 13 weeks, each grouped into two 4-week "months" and one 5-week "month".
Year A year or annum is the orbital period of a planetary body, for example, the Earth, moving in its orbit around the Sun. Due to the Earth's axial tilt, the course of a year sees the passing of the seasons, marked by change in weather, the hours of daylight, and, consequently, vegetation and soil fertility.
National Defense Authorization Act for Fiscal Year 2013 The National Defense Authorization Act (NDAA) for Fiscal Year 2013 (short title) is a United States federal law which specifies the budget and expenditures of the United States Department of Defense for fiscal year 2013. The full title is An Act to Authorize Appropriations for fiscal year 2013 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes.
Tax Cuts and Jobs Act of 2017 The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115–97 (text) (PDF), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates for businesses and individuals, increasing the standard deduction and family tax credits, eliminating personal exemptions and making it less beneficial to itemize deductions, limiting deductions for state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing the alternative minimum tax for individuals and eliminating it for corporations, doubling the estate tax exemption, and cancelling the penalty enforcing individual mandate of the Affordable Care Act (ACA).The Act is based on tax reform advocated by congressional Republicans and the Trump administration.
List of largest oil and gas companies by revenue This is a list of the largest oil and gas companies in the world by yearly total revenue. Total revenue is listed in billions of U.S. dollars.
Federal tax revenue by state This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service.\nGross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico.
United States Air Force The United States Air Force (USAF) is the air service branch of the United States Armed Forces, and is one of the eight U.S. uniformed services. Originally created in 1907 as a part of the United States Army, the USAF was established as a separate branch of the U.S. Armed Forces in 1947 with the passing of the National Security Act of 1947.
USAir Flight 405 USAir Flight 405 was a regularly scheduled domestic passenger flight between LaGuardia Airport in Queens, New York City, New York, and Cleveland, Ohio. On March 22, 1992, a USAir Fokker F28, registration N485US, flying the route, crashed in poor weather in a partially inverted position in Flushing Bay, shortly after liftoff from LaGuardia.
Extra EA-400 The Extra EA-400 is a six-seat, single-engined, high-wing monoplane produced by Extra Flugzeugbau GmbH. The EA-400 is powered by a liquid-cooled Continental Voyager turbocharged piston engine.\n\n\n== Design and development ==\nStarted by Walter Extra, the company manufactures aerobatic airplanes almost exclusively, with their latest products being the Extra EA-300 series.
General Atomics MQ-1 Predator The General Atomics MQ-1 Predator is an American remotely piloted aircraft (RPA) built by General Atomics that was used primarily by the United States Air Force (USAF) and Central Intelligence Agency (CIA). Conceived in the early 1990s for aerial reconnaissance and forward observation roles, the Predator carries cameras and other sensors.
Junkers Ju 52 The Junkers Ju 52/3m (nicknamed Tante Ju ("Aunt Ju") and Iron Annie) is a transport aircraft that was designed and manufactured by German aviation company Junkers.\nDevelopment of the Ju 52 commenced during 1930, headed by German aeronautical engineer Ernst Zindel.
Ice protection system In aeronautics, ice protection systems keep atmospheric moisture from accumulating on aircraft surfaces, such as wings, propellers, rotor blades, engine intakes, and environmental control intakes. Ice buildup can change the shape of airfoils and flight control surfaces, degrading control and handling characteristics as well as performance.
Product liability Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property.
Risk Factors
AIR T INC Item 1A Risk Factors
The following risk factors, as well as other information included in the Company’s Annual Report on Form 10-K, should be considered by investors in connection with any investment in the Company’s common stock
As used in this Item, the terms “we,” “us” and “our” refer to the Company and its subsidiaries
Risks Related to Our Dependence on Significant Customers We are significantly dependent on our contractual relationship with Federal Express Corporation, the loss of which would have a material adverse effect on our business, results of operations and financial position
In the fiscal year ended March 31, 2006, 54dtta6prca of our operating revenues, and 100prca of the operating revenues for our overnight air cargo segment, arose from services we provided to Federal Express
Our agreements with Federal Express are renewable annually and may be terminated by Federal Express at any time upon 30 days’ notice
The loss of these contracts with Federal Express would have a material adverse effect on our business, results of operations and financial position
Because of our dependence on Federal Express, we are subject to the risks that may affect Federal Express’s operations
These risks are discussed in “Management’s Discussion and Analysis of Results of Operations and Financial Condition—Forward-Looking Statements” in Federal Express Corporation’s Annual Report on Form 10-K for the fiscal year ended May 31, 2005
These risks include: · economic conditions in the domestic and international markets in which it operates; · any impacts on its business resulting from new domestic or international government regulation, including regulatory actions affecting aviation rights, security requirements and labor rules; · the impact of any international conflicts or terrorist activities on the United States and global economies in general, the transportation industry in particular, and what effects these events will have on the demand for its services; · competition from other providers of transportation services, including its ability to compete with new or improved services offered by its competitors; · the impact of technology developments on its operations and on demand for its services; and · adverse weather conditions or natural disasters
A material reduction in the aircraft we fly for Federal Express could materially adversely affect on our business and results of operations Under our agreements with Federal Express, we are not guaranteed a number of aircraft or routes we are to fly
Our compensation under these agreements, including our administrative fees, depends on the number of aircraft operated in routes assigned to us by Federal Express
For example, in connection with delays in the fiscal year ended March 31, 2005 in the conversion of a portion of the fleet we operate for Federal Express from Fokker F-27 aircraft to ATR-42 and ATR-72 aircraft, the number of aircraft we operated was reduced as certain Fokker F-27 aircraft were removed from service in advance of scheduled heavy maintenance checks while replacement ATR-42 and ATR-72 aircraft were not yet available to be placed in service due to delays in their conversion from passenger to cargo configuration
Although such a reduction in aircraft was temporary in that instance, any material permanent reduction in the aircraft we operate could materially adversely affect our business and results of operations
A temporary reduction could materially adversely affect our results of operations for that period
6 _________________________________________________________________ If our agreement with the United States Air Force expires in June 2009 as scheduled, we may be unable to replace revenues from sales of ground equipment to the United States Air Force and seasonal patterns of this segment of our business may re-emerge
In the fiscal years ended March 31, 2006, 2005 and 2004, approximately 17dtta8prca, 23dtta7prca and 16dtta4prca, respectively, of our operating revenues arose from sales of de-icing equipment to the United State Air Force under a long-term contract
We cannot provide any assurance that this agreement will be extended beyond its current 2009 expiration date
In the event that this agreement is not extended, our revenues from sales of ground support may decrease unless we are successful in obtaining customer orders from other sources and we cannot assure you that we will be able to secure orders in that quantity or for the fully-equipped models of equipment sold to the Air Force
In addition, sales of de-icing equipment to the Air Force has enabled us to ameliorate the seasonality of our ground equipment business
Thus if the contract with the Air Force is not extended, seasonal patterns for this business, with the bulk of the revenues and earnings occurring during the second and third fiscal quarters in anticipation of the winter season, and comparatively little during the first and fourth fiscal quarters, may re-emerge
Other Business Risks Our revenues for aircraft maintenance services fluctuate based on the heavy maintenance check schedule, which is based on aircraft usage, for aircraft flown by our overnight air cargo operations, and the anticipated schedule for heavy maintenance checks may result in reduced maintenance revenues in fiscal 2007 and 2008
Our maintenance revenues fluctuate based on the level of heavy maintenance checks performed on aircraft operated by our air cargo operations
As a result of the delay in the introduction of ATR aircraft to replace 16 older Fokker F-27 aircraft operated by MAC, most of the ATR aircraft operated by MAC were placed in service during the fiscal year ended March 31, 2006
Maintenance revenues associated with the conversion of these aircraft from passenger operations to cargo operations resulted in increased maintenance revenues during this period
Because most of these aircraft were placed in service during a relatively short time span, they are on roughly the same maintenance schedule, and the next heavy maintenance checks due on these aircraft would not be anticipated to start until the fiscal year ending March 31, 2009
Unless there is an acceleration of the heavy maintenance checks schedule, which is based on aircraft usage, or we are able to attract additional maintenance projects, our maintenance revenues in fiscal 2007 and 2008 may be lower than in fiscal 2005 and 2006
Incidents or accidents involving products that we sell may result in liability or otherwise adversely affect our operating results for a period
Incidents or accidents may occur involving the products that we sell
For example, in February 2005, a 135-foot fixed-stand deicing boom sold by Global for installation at the Philadelphia, Pennsylvania airport collapsed on an Airbus A330 aircraft operated by US Airways
While the aircraft suffered some structural damage, no passengers or crew on the aircraft were injured
The operator of the deicing boom has claimed to suffer injuries in connection with the collapse and has initiated litigation
While we maintain products liability and other insurance in amounts we believe are customary and appropriate, and may have rights to pursue subcontractors in the event that we have any liability in connection with accidents involving products that we sell, it is possible that in the event of multiple accidents the amount of our insurance coverage would not be adequate
In addition, in late June 2005, after an independent structural engineering firm’s investigation identified specific design flaws and structural defects in the remaining 11 booms sold by Global and installed at the Philadelphia Airport, and after Global’s subcontractor declined to participate in efforts to return the remaining 11 booms to service, Global agreed with the City of Philadelphia to effect specific repairs to the remaining 11 booms
Global incurred approximately dlra905cmam000 in the fiscal year ended March 31, 2006 in connection with its commercial undertaking with the City of Philadelphia to return these booms to service
While we have commenced litigation against our subcontractor to recover these amounts, we cannot assure you that we will be successful in recovering these amounts in a timely manner or at all
7 _________________________________________________________________ The suspension or revocation of FAA certifications could have a material adverse effect on our business, results of operations and financial condition
Our air cargo operations are subject to regulations of the FAA The FAA can suspend or revoke the authority of air carriers or their licensed personnel for failure to comply with its regulations and can ground aircraft if questions arise concerning airworthiness
The FAA also has power to suspend or revoke for cause the certificates it issues and to institute proceedings for imposition and collection of fines for violation of federal aviation regulations
Our air cargo subsidiaries, MAC and CSA, operate under separate FAA certifications
Although it is possible that, in the event that the certification of one of our subsidiaries was suspended or revoked, flights operated by that subsidiary could be transferred to the other subsidiary, we can offer no assurance that we would be able to transfer flight operations in that manner
Accordingly, the suspension or revocation of any one of these certifications could have a material adverse effect our business, results of operations and financial position
The suspension or revocation of all of these certifications would have a material adverse effect on our business, results of operations and financial position
Mild weather conditions may adversely affect the demand for our primary ground equipment products
Our de-icing equipment is used to de-ice commercial and military aircraft
The extent of de-icing activity depends on the severity of winter weather
Mild winter weather conditions permit airports to use fewer de-icing units, since less time is required to de-ice aircraft in mild weather conditions
Accordingly, trends toward mild winter weather, particularly in the northeast United States which experiences a high volume of air traffic, reduce the demand for our de-icing equipment products