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Wiki	Wiki Summary
Lluís Companys	Lluís Companys i Jover (Catalan pronunciation: [ʎuˈis kumˈpaɲs]; 21 June 1882 – 15 October 1940) was a Spanish politician from Catalonia who served as president of Catalonia from 1934 and during the Spanish Civil War.\nCompanys was a lawyer close to labour movement and one of the most prominent leaders of the Republican Left of Catalonia (ERC) political party, founded in 1931.
Passeig de Lluís Companys, Barcelona	Passeig de Lluís Companys (Catalan pronunciation: [pəˈsɛdʒ də ʎuˈis kumˈpaɲs]) is a promenade in the Ciutat Vella and Eixample districts of Barcelona, Catalonia, Spain, and can be seen as an extension of Passeig de Sant Joan. It was named after President Lluís Companys, who was executed in 1940.
Company	A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals.
Holding company	A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself.
El Tarròs	El Tarròs (Spanish: Tarrós) is a small village in Tornabous municipality, in the province of Lleida, in Catalonia, Spain. In 2008 it had 100 inhabitants.
Financial crisis of 2007–2008	The financial crisis of 2008, or Global Financial Crisis, was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929).
Liquidity at risk	Liquidity risk is a financial risk that for a certain period of time a given financial asset, security or commodity cannot be traded quickly enough in the market without impacting the market price.\n\n\n== Types ==\nMarket liquidity – An asset cannot be sold due to lack of liquidity in the market – essentially a sub-set of market risk.
Financial risk	Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent.A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Dr.
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.
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 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".
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.
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.
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.
SAP ERP	SAP ERP is an enterprise resource planning software developed by the German company SAP SE. SAP ERP incorporates the key business functions of an organization. The latest version of SAP ERP (V.6.0) was made available in 2006.
Porter's five forces analysis	Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability.
The Weather Company	The Weather Company is a weather forecasting and information technology company that owns and operates weather.com and Weather Underground. The Weather Company has been a subsidiary of the Watson & Cloud Platform business unit of IBM since 2016.
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.
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.
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.
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.
Significant Others	The term significant other (SO) has different uses in psychology and in colloquial language. Colloquially "significant other" is used as a gender-neutral term for a person's partner in an intimate relationship without disclosing or presuming anything about marital status, relationship status, gender identity, or sexual orientation.
Customer experience	Customer experience (CX) is a totality of cognitive, affective, sensory, and behavioral consumer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Pine and Gilmore described the experience economy as the next level after commodities, goods, and services with memorable events as the final business product.
Loanword	A loanword (also loan word or loan-word) is a word permanently adopted from one language (the donor language) and incorporated into another language without translation. This is in contrast to cognates, which are words in two or more languages that are similar because they share an etymological origin, and calques, which involve translation.
English words of Greek origin	The Greek language has contributed to the English lexicon in five main ways:\n\nvernacular borrowings, transmitted orally through Vulgar Latin directly into Old English, e.g., 'butter' (butere, from Latin butyrum < βούτυρον), or through French, e.g., 'ochre';\nlearned borrowings from classical Greek texts, often via Latin, e.g., 'physics' (< Latin physica < τὰ φυσικά);\na few borrowings transmitted through other languages, notably Arabic scientific and philosophical writing, e.g., 'alchemy' (< χημεία);\ndirect borrowings from Modern Greek, e.g., 'ouzo' (ούζο);\nneologisms (coinages) in post-classical Latin or modern languages using classical Greek roots, e.g., 'telephone' (< τῆλε + φωνή) or a mixture of Greek and other roots, e.g., 'television' (< Greek τῆλε + English vision < Latin visio); these are often shared among the modern European languages, including Modern Greek;Of these, the neologisms are by far the most numerous.\n\n\n== Indirect and direct borrowings ==\nSince the living Greek and English languages were not in direct contact until modern times, borrowings were necessarily indirect, coming either through Latin (through texts or through French and other vernaculars), or from Ancient Greek texts, not the living spoken language.
Restaurant Brands International	Restaurant Brands International Inc. (RBI) is an Canadian-American multinational fast food holding company.
Firehouse Subs	Firehouse Subs is an American restaurant chain based in Jacksonville, Florida. It was founded in 1994 by former firefighter brothers Chris Sorensen and Robin Sorensen.Firehouse Subs has over 1,200 restaurants in 46 states, Puerto Rico, and Canada.
Borrowing statute	Within the United States, a statute of limitations is typically deemed to be a procedural law, meaning that a state will ordinarily apply its own statute of limitations to any case that is filed within its courts. A borrowing statute, is a statute under which a U.S. state may "borrow" a shorter statute of limitations for a cause of action arising in another jurisdiction.
Flight Facilities	Flight Facilities is an Australian electronic producer duo that also performs as Hugo & Jimmy. In 2009, they began mixing songs by other artists before crafting their own original material.
The Facilities Society	The Facilities Society was founded in the UK on 9 December 2008 as a not-for-profit company limited by guarantee (registered in England nr. 6769050).
Medical facilities of Seattle	The city of Seattle, Washington, United States is served by numerous respected medical institutions. The University of Washington is consistently ranked among the country's dozen leading institutions in medical research, while Group Health Cooperative was one of the pioneers of managed care in the United States.
List of designated terrorist groups	A number of national governments and two international organisations have created lists of organisations that they designate as terrorist. The following list of designated terrorist groups lists groups designated as terrorist by current and former national governments, and inter-governmental organizations.
The Terrorist (novel)	Terrorist is the 22nd novel written by John Updike.\n\n\n== Plot introduction ==\nThe story centers on an American-born Muslim teenager named Ahmad Ashmawy Mulloy, although Ahmad's high school life guidance counselor, Jack Levy, also plays a central role.
Terrorist Threats	Terrorist Threats is the second and final studio album by American West Coast hip hop supergroup Westside Connection. It was released on December 9, 2003 through Hoo-Bangin'/Capitol Records.
List of terrorist incidents	The following is a list of terrorist incidents that have not been carried out by a state or its forces (see state terrorism and state-sponsored terrorism). Assassinations are listed at List of assassinated people.

Risk Factors
QUAKER CHEMICAL CORP Item 1A Risk Factors Changes to the industries and markets that Quaker serves could have a material adverse effect on the Company’s liquidity, financial position and results of operations
The chemical specialty industry comprises a number of companies of similar size as well as companies larger and smaller than Quaker
It is estimated that Quaker holds a leading global position in the markets for process fluids to produce sheet steel and in portions of the automotive and industrial markets
The industry remains highly competitive, and a number of companies with significant financial resources and/or customer relationships compete with us to provide similar products and services
Our competitors may be positioned to offer more favorable pricing and service terms, resulting in reduced profitability and loss of market share for us
Historically, competition in the industry has been based primarily on the ability to provide products that meet the needs of the customer and render technical services and laboratory assistance to the customer and, to a lesser extent, on price
Success factors critical to the Company’s business include successfully differentiating the Company’s offering from its competition, operating efficiently and profitably as a globally integrated whole, and increasing market share and customer penetration through internally developed business programs and strategic acquisitions
The business environment in which the Company operates remains challenging
The Company is subject to the same business cycles as those experienced by steel, automobile, aircraft, appliance, and durable goods manufacturers
A major risk is that the Company’s demand is largely derived from the demand for its customers’ products, which subjects the Company to uncertainties related to downturns in our customers’ business and unanticipated customer production shutdowns or curtailments
Customer production within the steel and automotive industries has been recently slowing especially in the US and European markets
The Company has limited ability to adjust its cost level contemporaneously with changes in sales and gross margins
Thus, a significant downturn in sales or gross margins due to weak end-user markets, loss of a significant customer, and/or rising raw material costs could have material adverse effect on the Company’s liquidity, financial position and results of operations
Our business depends on attracting and retaining qualified management personnel
The unanticipated departure of any key member of our management team could have an adverse effect on our business
Given the relative size of the Company and the breadth of its global operations, there are a limited number of qualified management personnel to assume the responsibilities of management level employees should there be management turnover
In addition, because of the specialized and technical nature of our business, our future performance is dependent on the continued service of, and our ability to attract and retain qualified management, commercial and technical personnel
Competition for such personnel is intense, and we may be unable to continue to attract or retain such personnel
Inability to obtain sufficient price increases or contract concessions to offset increases in the costs of raw material could have a material adverse effect on the Company’s liquidity, financial position and results of operations
Price increases implemented could result in the loss of customers
Quaker uses over 1cmam000 raw materials, including mineral oils and derivatives, animal fats and derivatives, vegetable oils and derivatives, ethylene derivatives, solvents, surface active agents, chlorinated paraffinic compounds, and a wide variety of other organic and inorganic compounds
In 2005, only three raw material groups (mineral oil and derivatives, animal fats and derivatives, and vegetable oils and derivatives) each accounted for as much as 10prca of the total cost of Quaker’s raw material purchases
The price of mineral oil can be affected by the price of crude oil and refining capacity
In addition, many of the raw materials used by Quaker are “commodity” chemicals
Accordingly, Quaker’s earnings can be affected by market changes in raw material prices
5 ______________________________________________________________________ Over the past three years, Quaker has experienced significant increases in its raw material costs, particularly crude-oil derivatives
In addition, refining capacity has also been constrained by hurricanes and other factors, which separately and further contributed to higher raw material costs and negatively impacted margins
In response, the Company has aggressively pursued price increases to offset the increased raw material costs
Although the Company has been successful in recovering a substantial amount of the raw material cost increases, it has experienced competitive as well as contractual constraints limiting pricing actions
The contractual limitations include certain of the Company’s CMS contracts for which there are fixed fees that do not allow for adjustments, notwithstanding the increases in third party product purchase costs
In addition, as a result of the Company’s pricing actions, customers may become more likely to consider competitor’s products, some of which may be available at a lower cost
Significant loss of customers could result in a material adverse effect on the Company’s results of operations
Bankruptcy of a significant customer could have a material adverse effect on our liquidity, financial position and results of operations
During 2005, our five largest customers (each composed of multiple subsidiaries or divisions with semi-autonomous purchasing authority) together accounted for approximately 25prca of our consolidated net sales with the largest customer (General Motors) accounting for approximately 9prca of consolidated net sales
A significant portion of Quaker’s revenues is derived from sales to customers in the US steel industry, where a number of bankruptcies occurred during recent years
In addition, certain large industrial customers have also experienced financial difficulty
As part of the bankruptcy process, the Company’s pre-petition receivables may not be realized, customer manufacturing sites may be closed or contracts voided
The bankruptcy of a major customer could have a material adverse effect on the Company’s liquidity, financial position and results of operations
Steel customers typically have limited manufacturing locations as compared to metalworking customers and generally use higher volumes of products at a single location
The loss or closure of a steel mill or other major customer site of a significant customer could have a material adverse effect on Quaker’s business
Failure to comply with any material provisions of our credit facility could have a material adverse effect on our liquidity, financial position and results of operations
The Company maintains a dlra100dtta0 million unsecured credit facility (the “Credit Facility”) with a group of lenders, which can be increased to dlra125dtta0 million at the Company’s option if lenders agree to increase their commitments and the Company satisfies certain conditions
The Credit Facility, which matures on September 30, 2010, provides the availability of revolving credit borrowings
In general, the borrowings under the Credit Facility bear interest at either a base rate or LIBOR rate plus a margin based on the Company’s consolidated leverage ratio
The Credit Facility contains limitations on capital expenditures, investments, acquisitions and liens, as well as default provisions customary for facilities of its type
While these covenants and restrictions are not currently considered to be overly restrictive, they could become more difficult to comply with as our business or financial conditions change
In addition, deterioration in the Company’s results of operations or financial position could significantly increase borrowing costs
Quaker is exposed to market rate risk for changes in interest rates, due to the variable interest rate applied to the Company’s borrowings under its credit facilities
Accordingly, if interest rates rise significantly, the cost of debt to Quaker will increase, perhaps significantly, depending on the extent of Quaker’s borrowings under the Credit Facility
At December 31, 2005, the Company had dlra63dtta8 million outstanding under its credit facilities
In the fourth quarter of 2005, the Company entered into interest rate swaps in order to fix a portion of its variable rate debt and mitigate the risks associated with higher interest rates
The combined notional value of the swaps was dlra15dtta0 million at December 31, 2005
6 ______________________________________________________________________ Failure to generate taxable income could have a material adverse effect on our financial position and results of operations
At the end of 2005, the Company had net US deferred tax assets totaling dlra15dtta3 million, excluding deferred tax assets relating to additional minimum pension liabilities
In addition, the Company has dlra3dtta5 million in operating loss carryforwards related to certain of its foreign operations
The Company records valuation allowances when necessary to reduce its deferred tax assets to the amount that is more likely than not to be realized
The Company considers future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance
However, in the event the Company were to determine that it would not be able to realize all or part of its net deferred tax assets in the future, an adjustment to the deferred tax asset would be a non-cash charge to income in the period such determination was made, which could have a material adverse effect on the Company’s financial statements
The continued upward pressure in the Company’s crude oil based raw materials has outpaced the Company’s selling price increases, negatively impacting profitability
The Company continues to closely monitor this situation as it relates to its net deferred tax assets and the assessment of valuation allowances
The Company is implementing actions that could positively impact taxable income
Environmental laws and regulations and pending legal proceedings may materially and adversely affect the Company’s liquidity, financial position and results of operations
The Company is a party to proceedings, cases, and requests for information from, and negotiations with, various claimants and Federal and state agencies relating to various matters including environmental matters
Incorporated herein by reference is the information concerning pending asbestos-related litigation against an inactive subsidiary and amounts accrued associated with certain environmental investigatory and non-capital remediation costs in Note 18 of Notes to Consolidated Financial Statements which appears in Item 8 of this Report
The scope of our international operations subject the Company to risks, including risks from changes in trade regulations, currency fluctuations, and political and economic instability
Since significant revenues and earnings are generated by non-US operations, Quaker’s financial results are affected by currency fluctuations, particularly between the US dollar, the EU euro, and the Brazilian real, and the impact of those currency fluctuations on the underlying economies
During the past three years, sales by non-US subsidiaries accounted for approximately 53prca to 55prca of the annual consolidated net sales
All these operations use the local currency as their functional currency
The Company generally does not use financial instruments that expose it to significant risk involving foreign currency transactions; however, the size of non-US activities has a significant impact on reported operating results and attendant net assets
Therefore, as exchange rates vary, Quaker’s results can be materially affected
Incorporated by reference is the foreign exchange risk information contained in Item 7A of this Report and the geographic information in Note 13 of Notes to Consolidated Financial Statements included in Item 8 of this Report
Additional risks associated with the Company’s international operations include but are not limited to the following: • Changes in economic conditions from country to country, • Changes in a country’s political condition, • Trade protection measures, • Licensing and other legal requirements, • Local tax issues, • Longer payment cycles in certain foreign markets, • Restrictions on the repatriation of our assets, including cash, 7 ______________________________________________________________________ • Significant foreign and United States taxes on repatriated cash, • The difficulties of staffing and managing dispersed international operations, • Less protective foreign intellectual property laws, and • Legal systems which may be less developed and predictable than those in the United States
Terrorist attacks, or other acts of violence or war may affect the markets in which we operate and our profitability
Terrorist attacks may negatively affect our operations
There can be no assurance that there will not be further terrorist attacks against the United States or United States businesses
Terrorist attacks or armed conflicts may directly impact our physical facilities or those of our suppliers or customers
Additional terrorist attacks may disrupt the global insurance and reinsurance industries with the result that we may not be able to obtain insurance at historical terms and levels for all of our facilities
Furthermore, additional attacks may make travel and the transportation of our supplies and products more difficult and more expensive and ultimately affect the sales of our products
The consequences of terrorist attacks or armed conflicts are unpredictable, and we may not be able to foresee events that could have an adverse effect on our business