| Industries |
|---|
| Technology Hardware Storage and Peripherals |
| Information Technology |
| Technology Hardware and Equipment |
| Automobile Manufacturers |
| Motorcycle Manufacturers |
| Asset Management and Custody Banks |
| Investment Banking and Brokerage |
| Oil and Gas Storage and Transportation |
| Oil and Gas Refining and Marketing and Transportation |
| Transportation |
| Independent Power Producers and Energy Traders |
| Health Care Facilities |
| Exposures |
|---|
| Intelligence |
| Provide |
| Military |
| Express intent |
| Political reform |
| Event Codes |
|---|
| Warn |
| Yield to order |
| Sports contest |
| Riot |
| Host meeting |
| Agree |
| Human death |
| Solicit support |
| Military blockade |
| Natural disaster |
| Endorse |
| Yield |
| Acknowledge responsibility |
| Wiki | Wiki Summary |
|---|---|
| Significant figures | Significant figures (also known as the significant digits, precision or resolution) of a number in positional notation are digits in the number that are reliable and necessary to indicate the quantity of something.\nIf a number expressing the result of a measurement (e.g., length, pressure, volume, or mass) has more digits than the number of digits allowed by the measurement resolution, then only as many digits as allowed by the measurement resolution are reliable, and so only these can be significant figures. |
| Bit numbering | In computing, bit numbering is the convention used to identify the bit positions in a binary number.\n\n\n== Bit significance and indexing ==\n\nIn computing, the least significant bit (LSB) is the bit position in a binary integer representing the binary 1s place of the integer. |
| Significant form | Significant form refers to an aesthetic theory developed by English art critic Clive Bell which specified a set of criteria for what qualified as a work of art. |
| Statistical significance | In statistical hypothesis testing, a result has statistical significance when it is very unlikely to have occurred given the null hypothesis. More precisely, a study's defined significance level, denoted by \n \n \n \n α\n \n \n {\displaystyle \alpha }\n , is the probability of the study rejecting the null hypothesis, given that the null hypothesis is true; and the p-value of a result, \n \n \n \n p\n \n \n {\displaystyle p}\n , is the probability of obtaining a result at least as extreme, given that the null hypothesis is true. |
| The Simpsons | The Simpsons is an American animated sitcom created by Matt Groening for the Fox Broadcasting Company. The series is a satirical depiction of American life, epitomized by the Simpson family, which consists of Homer, Marge, Bart, Lisa, and Maggie. |
| Significant Mother | Significant Mother is an American television sitcom created by Erin Cardillo and Richard Keith. Starring Josh Zuckerman, Nathaniel Buzolic and Krista Allen, it premiered on The CW network on August 3 and ended its run on October 5, 2015. |
| Internet | In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. |
| Adverse food reaction | An adverse food reaction is an adverse response by the body to food or a specific type of food.The most common adverse reaction is a food allergy, which is an adverse immune response to either a specific type or a range of food proteins.\nHowever, other adverse responses to food are not allergies. |
| Material adverse change | In the fields of mergers and acquisitions and corporate finance, a material adverse change (abbreviated MAC), material adverse event (MAE), or material adverse effect (also MAE) is a change in circumstances that significantly reduces the value of a company. A contract to acquire, invest in, or lend money to a company often contains a term that allows the acquirer, investor, or lender to cancel the transaction if a material adverse change occurs. |
| Adverse (film) | Adverse is a 2020 American crime thriller film written and directed by Brian Metcalf and starring Thomas Nicholas, Lou Diamond Phillips, Sean Astin, Kelly Arjen, Penelope Ann Miller, and Mickey Rourke. It premiered at the Fantasporto Film Festival, Portugal's largest film festival, on February 28, 2020. |
| Adverse party | An adverse party is an opposing party in a lawsuit under an adversary system of law. In general, an adverse party is a party against whom judgment is sought or "a party interested in sustaining a judgment or decree." For example, the adverse party for a defendant is the plaintiff. |
| Hostile witness | A hostile witness, also known as an adverse witness or an unfavorable witness, is a witness at trial whose testimony on direct examination is either openly antagonistic or appears to be contrary to the legal position of the party who called the witness. This concept is used in the legal proceedings in the United States, and analogues of it exist in other legal systems in Western countries. |
| Profit (economics) | An economic profit is the difference between the revenue a commercial entity has received from its outputs and the opportunity costs of its inputs. It equals to total revenue minus total cost, including both explicit and implicit costs. |
| Profitability index | Profitability index (PI), also known as profit investment ratio (PIR) and value investment ratio (VIR), is the ratio of payoff to investment of a proposed project. It is a useful tool for ranking projects because it allows you to quantify the amount of value created per unit of investment. |
| Customer Profitability Analysis | Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g. |
| Small Is Profitable | Small Is Profitable: The Hidden Economic Benefits of Making Electrical Resources the Right Size is a 2002 book by energy analyst Amory Lovins and others. The book describes 207 ways in which the size of "electrical resources"—devices that make, save, or store electricity—affects their economic value. |
| Profitable growth | Profitable Growth is the combination of profitability and growth, more precisely the combination of Economic Profitability and Growth of Free cash flows. Profitable growth is aimed at seducing the financial community; it emerged in the early 80s when shareholder value creation became firms’ main objective. |
| Customer profitability | Customer profitability (CP) is the profit the firm makes from serving a customer or customer group over a specified period of time, specifically the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person, household or a company that overtime, yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling and servicing the customer."\nCalculating customer profit is an important step in understanding which customer relationships are better than others. |
| Net income | In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue. |
| Business | Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. |
| Business-to-business | Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when:\n\nA business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e. |
| Business administration | Business administration (also known as business management) is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising business operations. |
| Small business | Small businesses are corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy varies depending on the country and industry. |
| Business Is Business | Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when:\n\nA business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e. |
| Family business | A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood or marriage or adoption, who has both the ability to influence the vision of the business and the willingness to use this ability to pursue distinctive goals. They are closely identified with the firm through leadership or ownership. |
| Business intelligence | Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical processing, analytics, dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics, and prescriptive analytics. |
| Business Proposal | Business Proposal (Korean: 사내 맞선; Hanja: 社內맞선; RR: Sanae Matseon; lit. The Office Blind Date) is a South Korean romantic comedy television series based on the webtoon of the same title written by HaeHwa and illustrated by Narak. |
| 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. |
| 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. |
| 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. |
| 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 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. |
| 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". |
| Operation (mathematics) | In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation. |
| Risk Factors |
|---|
| PAM TRANSPORTATION SERVICES INC Item 1A Risk Factors |
| 8 ITEM 1A RISK FACTORS Set forth below and elsewhere in this Report and in other documents we file with the SEC are risks and uncertainties that could cause our actual results to differ materially from the results contemplated by the forward-looking statements contained in this Report |
| Our business is subject to general economic and business factors that are largely out of our control, any of which could have a material adverse effect on our operating results |
| These factors include significant increases or rapid fluctuations in fuel prices, excess capacity in the trucking industry, surpluses in the market for used equipment, interest rates, fuel taxes, license and registration fees, insurance premiums, self-insurance levels, and difficulty in attracting and retaining qualified drivers and independent contractors |
| We are also affected by recessionary economic cycles and downturns in customers &apos business cycles, particularly in market segments and industries, such as the automotive industry, where we have a significant concentration of customers |
| Economic conditions may adversely affect our customers and their ability to pay for our services |
| We operate in a highly competitive and fragmented industry, and our business may suffer if we are unable to adequately address downward pricing pressures and other factors that may adversely affect our ability to compete with other carriers |
| Numerous competitive factors could impair our ability to maintain our current profitability |
| These factors include the following: - - we compete with many other truckload carriers of varying sizes and, to a lesser extent, with less-than-truckload carriers and railroads, some of which have more equipment and greater capital resources than we do; - - some of our competitors periodically reduce their freight rates to gain business, especially during times of reduced growth rates in the economy, which may limit our ability to maintain or increase freight rates, maintain our margins or maintain significant growth in our business; - - many customers reduce the number of carriers they use by selecting so-called "e core carriers "e as approved service providers, and in some instances we may not be selected; - - many customers periodically accept bids from multiple carriers for their shipping needs, and this process may depress freight rates or result in the loss of some of our business to competitors; - - the trend toward consolidation in the trucking industry may create other large carriers with greater financial resources and other competitive advantages relating to their size and with whom we may have difficulty competing; - - advances in technology require increased investments to remain competitive, and our customers may not be willing to accept higher freight rates to cover the cost of these investments; - - competition from Internet-based and other logistics and freight brokerage companies may adversely affect our customer relationships and freight rates; and - - economies of scale that may be passed on to smaller carriers by procurement aggregation providers may improve their ability to compete with us |
| -8- |
| A significant portion of our revenue is generated from our major customers |
| For 2005, our top five customers, based on revenue, accounted for approximately 57prca of our revenue, and our largest customer, General Motors Corporation, accounted for approximately 39prca of our revenue |
| We also provide transportation services to other manufacturers who are suppliers for automobile manufacturers |
| As a result, concentration of our business within the automobile industry is greater than the concentration in a single customer |
| Approximately 52prca of our revenues for 2005 were derived from transportation services provided to the automobile industry |
| Generally, we do not have long-term contractual relationships with our major customers, and we cannot assure that our customer relationships will continue as presently in effect |
| A reduction in or termination of our services by our major customers could have a material adverse effect on our business and operating results |
| Ongoing insurance and claims expenses could significantly reduce our earnings |
| Our future insurance and claims expenses might exceed historical levels, which could reduce our earnings |
| The Company is self insured for health and workers compensation insurance coverage up to certain limits |
| If medical costs continue to increase, or if the severity or number of claims increase, and if we are unable to offset the resulting increases in expenses with higher freight rates, our earnings could be materially and adversely affected |
| We may be unable to successfully integrate businesses we acquire into our operations |
| Integrating businesses we acquire may involve unanticipated delays, costs or other operational or financial problems |
| Successful integration of the businesses we acquire depends on a number of factors, including our ability to transition acquired companies to our management information systems |
| In integrating businesses we acquire, we may not achieve expected economies of scale or profitability or realize sufficient revenues to justify our investment |
| We also face the risk that an unexpected problem at one of the companies we acquire will require substantial time and attention from senior management, diverting managementapstas attention from other aspects of our business |
| We cannot be certain that our management and operational controls will be able to support us as we grow |
| Difficulty in attracting drivers could affect our profitability and ability to grow |
| Periodically, the transportation industry experiences difficulty in attracting and retaining qualified drivers, including independent contractors, resulting in intense competition for drivers |
| We have from time to time experienced under-utilization and increased expenses due to a shortage of qualified drivers |
| If we are unable to continue to attract drivers and contract with independent contractors, we could be required to further adjust our driver compensation package or let trucks sit idle, which could adversely affect our growth and profitability |
| If we are unable to retain our key employees, our business, financial condition and results of operations could be harmed |
| We are highly dependent upon the services of the following key employees: Robert W Weaver, our President and Chief Executive Officer; W Clif Lawson, our Executive Vice President and Chief Operating Officer; and Larry J Goddard, our Vice President and Chief Financial Officer |
| We do not maintain key-man life insurance on any of these executives |
| The loss of any of their services could have a material adverse effect on our operations and future profitability |
| We must continue to develop and retain a core group of managers if we are to realize our goal of expanding our operations and continuing our growth |
| We cannot assure that we will be able to do so |
| -9- |
| The trucking industry is very capital intensive |
| If we are unable to generate sufficient cash from operations in the future, we may have to limit our growth, enter into financing arrangements, or operate our revenue equipment for longer periods, any of which could have a material adverse affect on our profitability |
| Our operations are subject to various environmental laws and regulations, the violation of which could result in substantial fines or penalties |
| We are subject to various environmental laws and regulations dealing with the handling of hazardous materials, underground fuel storage tanks, and discharge and retention of stormwater |
| We operate in industrial areas, where truck terminals and other industrial activities are located, and where groundwater or other forms of environmental contamination could occur |
| We also maintain bulk fuel storage and fuel islands at five of our facilities |
| Our operations involve the risks of fuel spillage or seepage, environmental damage, and hazardous waste disposal, among others |
| If we are involved in a spill or other accident involving hazardous substances, or if we are found to be in violation of applicable laws or regulations, it could have a materially adverse effect on our business and operating results |
| If we should fail to comply with applicable environmental regulations, we could be subject to substantial fines or penalties and to civil and criminal liability |
| We operate in a highly regulated industry and increased costs of compliance with, or liability for violation of, existing or future regulations could have a material adverse effect on our business |
| The US Department of Transportation and various state agencies exercise broad powers over our business, generally governing such activities as authorization to engage in motor carrier operations, safety, and financial reporting |
| We may also become subject to new or more restrictive regulations relating to fuel emissions, drivers &apos hours in service, and ergonomics |
| Compliance with such regulations could substantially impair equipment productivity and increase our operating expenses |
| The EPA recently adopted new emissions control regulations, which require progressive reductions in exhaust emissions from diesel engines through 2010, for engines manufactured in October 2002 and thereafter |
| In part to offset the costs of compliance with the new EPA engine design requirements, some manufacturers have significantly increased new equipment prices and eliminated or sharply reduced the price of repurchase or trade-in commitments |
| If new equipment prices were to increase, or if the price of repurchase commitments by equipment manufacturers were to decrease, more than anticipated, we may be required to increase our depreciation and financing costs and/or retain some of our equipment longer, with a resulting increase in maintenance expenses |
| To the extent we are unable to offset any such increases in expenses with rate increases or cost savings, our results of operations could be adversely affected |
| If our fuel or maintenance expenses were to increase as a result of our use of the new, EPA-compliant engines, and we are unable to offset such increases with fuel surcharges or higher freight rates, our results of operations could be adversely affected |
| Further, our business and operations could be adversely impacted if we experience problems with the reliability of the new engines |
| We began operating tractors with engines meeting the EPA guidelines during 2003 |
| Although we have not experienced any significant reliability issues with these engines to date, the expenses associated with the tractors containing these engines have been slightly elevated, primarily as a result of lower fuel efficiency and slightly higher depreciation |