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Wiki Wiki Summary
Disparate impact Disparate impact in United States labor law refers to practices in employment, housing, and other areas that adversely affect one group of people of a protected characteristic more than another, even though rules applied by employers or landlords are formally neutral. Although the protected classes vary by statute, most federal civil rights laws protect based on race, color, religion, national origin, and sex as protected traits, and some laws include disability status and other traits as well.
Terrorist and Disruptive Activities (Prevention) Act Terrorist and Disruptive Activities (Prevention) Act, commonly known as TADA, was an Indian anti-terrorism law which was in force between 1985 and 1995 (modified in 1987) under the background of the Punjab insurgency and was applied to whole of India. It was originally assented to by the President on 23 May 1985 and came into effect on 24 May 1985.
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.
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 analysis Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business or project. \nIt is performed by professionals who prepare reports using ratios and other techniques, that make use of information taken from financial statements and other reports.
Federal takeover of Fannie Mae and Freddie Mac In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis.
Reduced affect display Reduced affect display, sometimes referred to as emotional blunting or emotional numbing, is a condition of reduced emotional reactivity in an individual. It manifests as a failure to express feelings (affect display) either verbally or nonverbally, especially when talking about issues that would normally be expected to engage the emotions.
Risk management Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.\nRisks can come from various sources including uncertainty in international markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause.
Thundercat (snowmobile) Thundercat is the name of a series of snowmobiles produced by Arctic Cat from 1993 - 2002, and subsequently from 2017 to present. When used, Thundercat denotes the most powerful model of snowmobile in Arctic Cats Line-up.
The Walt Disney Company The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.\nDisney was originally founded on October 16, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Cartoon Studio; it also operated under the names the Walt Disney Studio and Walt Disney Productions before changing its name to the Walt Disney Company in 1986.
East India Company The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia.
Regulation A In the United States under the Securities Act of 1933, any offer to sell securities must either be registered with the United States Securities and Exchange Commission (SEC) or meet certain qualifications to exempt it from such registration. Regulation A (or Reg A) contains rules providing exemptions from the registration requirements, allowing some companies to use equity crowdfunding to offer and sell their securities without having to register the securities with the SEC. Regulation A offerings are intended to make access to capital possible for small and medium-sized companies that could not otherwise bear the costs of a normal SEC registration and to allow nonaccredited investors to participate in the offering.
Regulation (European Union) A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law.
Digital Equipment Corporation Digital Equipment Corporation (DEC ), using the trademark Digital, was a major American company in the computer industry from the 1960s to the 1990s. The company was co-founded by Ken Olsen and Harlan Anderson in 1957.
Competitor analysis Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
Competitor backlinking Competitor backlinking is a search engine optimization strategy that involves analyzing the backlinks of competing websites within a vertical search. The outcome of this activity is designed to increase organic search engine rankings and to gain an understanding of the link building strategies used by business competitors.By analyzing the backlinks to competitor websites, it is possible to gain a benchmark on the number of links and the quality of links that is required for high search engine rankings.
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.
Professional liability insurance Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. \nThe coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder.
Tort A Tory () is a person who holds a political philosophy known as Toryism, based on a British version of traditionalism and conservatism, which upholds the supremacy of social order as it has evolved in the English culture throughout history. The Tory ethos has been summed up with the phrase "God, Queen, and Country".
Tivoization Tivoization is the practice of designing hardware that incorporates software under the terms of a copyleft software license like the GNU General Public License (GNU GPL), but uses hardware restrictions or digital rights management (DRM) to prevent users from running modified versions of the software on that hardware. Richard Stallman coined the term in reference to TiVo's use of GNU GPL licensed software on the TiVo brand digital video recorders (DVR), which actively blocks users from running modified software on its hardware by design.
High Desert State Prison (California) High Desert State Prison (HDSP) is a high-security state prison that houses level IV inmates located in Leavitt, Lassen County, California. Opened in 1995, it has a capacity of 2,324 persons.
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.
The Pokémon Company The Pokémon Company (株式会社ポケモン, Kabushiki gaisha Pokémon) is a Japanese company responsible for brand management, production, publishing, marketing and licensing of the Pokémon franchise, which consists of video game software, a trading card game, anime television series, films, manga, home entertainment products, merchandise, and other ventures. It was established through a joint investment by the three businesses holding the copyright of Pokémon: Nintendo, Game Freak, and Creatures.
The Honest Company The Honest Company, Inc. is an American consumer goods company, founded by actress Jessica Alba.
Monopolistic competition Monopolistic competition is a type of imperfect competition such that there are many producers competing against each other, but selling products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.
Executive arrangements In England, local authorities are required to adopt one of three types of executive arrangements, which govern how decisions will be made within the council. Before the passing of the Localism Act 2011 there were two principal modes of executive arrangements, namely the "leader and cabinet" and the "elected mayor and cabinet" models.
Arrangement of hyperplanes In geometry and combinatorics, an arrangement of hyperplanes is an arrangement of a finite set A of hyperplanes in a linear, affine, or projective space S. \nQuestions about a hyperplane arrangement A generally concern geometrical, topological, or other properties of the complement, M(A), which is the set that remains when the hyperplanes are removed from the whole space. One may ask how these properties are related to the arrangement and its intersection semilattice.
Yamaha XS750 The Yamaha XS750 and XS850 was a line of inline three cylinder motorcycles produced by the Yamaha Motor Corporation from 1976 to 1981 for the worldwide motorcycle market. It was publicly-voted by readers as the 1977 Motorcycle News Machine of the Year, ousting the sitting-winner of four-years, the Kawasaki Z1.Released in Japan in 1976 as the GX750 fitted with wire wheels (as opposed to cast alloy in all other models) the XS750 became the name for the export model.
Chevrolet El Camino The Chevrolet El Camino is a coupé utility vehicle that was produced by Chevrolet between 1959–60 and 1964–1987. Unlike a standard pickup truck, the El Camino was adapted from the standard two-door Chevrolet station wagon platform and integrated the cab and cargo bed into the body.
Risk Factors
ARCTIC CAT INC ITEM 1A RISK FACTORS The following are significant factors known to the Company that could adversely affect the Company’s business, financial condition, or operating results, as well as adversely affect the value of an investment in the Company’s common stock
These risks could cause Arctic Cat’s actual results to differ materially from its historical experience and from results predicted by forward-looking statements
All forward-looking statements made by Arctic Cat are qualified by the risks described below
There may be additional risks that are not presently material or known
You should carefully consider each of the following risks and all other information set forth in this annual report
The Company’s products are subject to extensive federal and state safety, environmental and other government regulation that may require the Company to incur expenses or modify product offerings in order to maintain compliance with the actions of regulators
The Company’s products are subject to extensive laws and regulations relating to safety, environmental and other regulations promulgated by the US federal government and individual states as well as international regulatory authorities
Although the Company believes that its snowmobiles, and ATVs have always complied with applicable vehicle safety and emissions standards and related regulations, there can be no assurance that future regulations will not require additional safety standards or emission reductions that would require additional expenses and/or modification of product offerings in order to maintain such compliance
Although the Company is unable to predict the ultimate impact of adopted or proposed regulations on its business and operating results, the Company believes that its business would be no more adversely affected than those of its competitors by the adoption of any pending laws or regulations
A significant adverse determination in any material product liability claim against the Company could adversely affect its operating results or financial condition
Accidents involving personal injury and property damage occur in the use of snowmobiles and ATVs
It is the Company’s policy to vigorously defend against these actions
Product liability insurance is presently maintained by the Company on a “per occurrence” basis (with coverage being provided in respect of accidents which occurred during the policy year, regardless of when the related claim is made) in the amount of dlra10cmam000cmam000 in the aggregate, with a dlra5cmam000cmam000 self-insured retention
While Arctic Cat does not believe the outcome of any pending product liability litigation will have a material adverse effect on its operations, no assurance can be given that material product liability claims against Arctic Cat will not be made in the future
Adverse determination of material product liability claims made against Arctic Cat could adversely affect its operating results or financial condition
Significant repair and/or replacement with respect to product warranty claims or product recalls could have a material adverse impact on the results of operations
The Company provides a limited warranty for ATVs for a period of six months and for a period of one year for its snowmobiles
The Company may provide longer warranties in certain geographical markets as determined by local regulations and market conditions
Although the Company employs quality control procedures, sometimes a product is distributed which needs repair or replacement
The Company’s standard warranties require the Company or its dealers to repair or replace defective products during such warranty periods at no cost to the consumer
Historically, product recalls have been administered through the Company’s dealers and distributors and have not had a material effect on the Company’s business
See Note A of Notes to Consolidated Financial Statements in this annual report
Changing weather conditions may reduce demand for certain Arctic Cat products and negatively impact net sales
Lack of snowfall in any year in any particular region of the United States or Canada may adversely affect snowmobiles retail sales and related parts, garments & accessories sales in that region
There is no assurance that weather conditions will not materially affect the Company’s future sales of snowmobiles, ATVs, and parts, garments & accessories
The Company faces intense competition in all product lines, from competitors that have greater financial and marketing resources
Failure to compete effectively against competitors would negatively impact the Company’s business and operating results
The snowmobile and ATV markets in the United States and Canada are highly competitive
Competition in such markets is based upon a number of factors, including performance, ride, suspension, innovation, technology, styling, fit and finish, brand loyalty, reliability, durability, price and distribution
At the dealer level, competition is based on a number of factors including sales and marketing support programs (such as sales incentives and cooperative advertising)
10 ______________________________________________________________________ The Company’s competitors are more diversified and have financial and marketing resources which are substantially greater than those of the Company
In addition, the Company’s products compete with many other recreational products for the discretionary spending of consumers and to a lesser extent, with other vehicles designed for utility applications
If the Company is not able to effectively compete in this environment, its business and operating results will be negatively impacted
Termination or interruption of supply arrangements could have a material adverse effect on the Company’s business or results of operations
Suzuki manufactures snowmobile and ATV engines for the Company pursuant to supply agreements which are automatically renewed annually unless terminated
While notice of termination of the supply agreements may be given annually, effective termination of supply would take at least one model year for snowmobile and two model years for ATVs due to contractual notice requirements
The Company and Suzuki have enjoyed an excellent relationship since the Company’s inception
Suzuki purchased approximately 31prca of the Company’s then outstanding capital stock in July 1988, prior to the Company’s initial public offering in July of 1990, and is currently the Company’s largest shareholder with approximately 34dtta6prca of the Company’s outstanding capital stock
If Suzuki were ever to cease supplying engines to the Company, such an interruption could materially and adversely affect production as well as results of operations
The Company believes it could take up to two model years for a new engine supplier to be in a position to manufacture the Company’s specially designed engines
While the Company anticipates no significant difficulties in obtaining substitute supply arrangements for other raw materials or components for which it relies upon limited sources of supply, there can be no assurance that alternate supply arrangements will be made on satisfactory terms
General Economic Conditions and Certain Other External Factors Companies within the snowmobile and ATV industry are subject to volatility in operating results due to external factors such as general economic conditions and political changes
Specific factors affecting the industry include: · Overall consumer confidence and the level of discretionary consumer spending; · Interest rates and related higher dealer floorplan costs; · Adverse impact on margins of increases in raw material costs which the Company is unable to pass on to dealers without negatively affecting sales; and · Fluctuation in foreign currency exchange rates