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Wiki Wiki Summary
The Second Annual Report The Second Annual Report is the debut album by English industrial music group Throbbing Gristle, released in November 1977 through Industrial Records. It is a combination of live and studio recordings made from October 1976 to September 1977.
Comprehensive annual financial report An Annual Comprehensive Financial Report, formally called Comprehensive Annual Financial Report (CAFR)) is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). GASB provides standards for the content of a Comprehensive Annual Financial Report in its annually updated publication Codification of Governmental Accounting and Financial Reporting Standards.
Form 10-K A Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. Although similarly named, the annual report on Form 10-K is distinct from the often glossy "annual report to shareholders," which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document).
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.
List of global issues A global issue is a matter of public concern worldwide. This list of global issues presents problems or phenomena affecting people around the world, including but not limited to widespread social issues, economic issues, and environmental issues.
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 law Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
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.
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.
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.
Securities Act of 1933 The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and after the stock market crash of 1929. It is an integral part of United States securities regulation.
Securities fraud Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of securities laws.Securities fraud can also include outright theft from investors (embezzlement by stockbrokers), stock manipulation, misstatements on a public company's financial reports, and lying to corporate auditors. The term encompasses a wide range of other actions, including insider trading, front running and other illegal acts on the trading floor of a stock or commodity exchange.
Class action A class action, also known as a class-action lawsuit, class suit, or representative action, is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member or members of that group. The class action originated in the United States and is still predominantly a U.S. phenomenon, but Canada, as well as several European countries with civil law, have made changes in recent years to allow consumer organizations to bring claims on behalf of consumers.
Tort reform Tort reform refers to changes in the civil justice system in common law countries that aim to reduce the ability of plaintiffs to bring tort litigation (particularly actions for negligence) or to reduce damages they can receive. Such changes are generally justified under the grounds that litigation is an inefficient means to compensate plaintiffs; that tort law permits frivolous or otherwise undesirable litigation to crowd the court system; or that the fear of litigation can serve to curtail innovation, raise the cost of consumer goods or insurance premiums for suppliers of services (e.g.
Contract with America The Contract with America was a legislative agenda advocated for by the Republican Party during the 1994 congressional election campaign. Written by Newt Gingrich and Dick Armey, and in part using text from former President Ronald Reagan's 1985 State of the Union Address, the Contract detailed the actions the Republicans promised to take if they became the majority party in the United States House of Representatives for the first time in 40 years.
Public interest law Public interest law refers to legal practices undertaken to help poor, marginalized, or under-represented people, or to effect change in social policies in the public interest, on 'not for profit' terms (pro bono publico), often in the fields of civil rights, civil liberties, religious liberty, human rights, women's rights, consumer rights, environmental protection, and so on.In a celebrated 1905 speech, Louis Brandeis decried the legal profession, complaining that "able lawyers have to a large extent allowed themselves to become adjuncts of great corporations and have neglected their obligation to use their powers for the protection of the people."In the tradition thus exemplified, a common ethic for public-interest lawyers in a growing number of countries remains "fighting for the little guy".\n\n\n== By jurisdiction ==\n\n\n=== Central and Eastern Europe ===\nAt the end of the communist period in the early 1990s, the national legal systems of Central and Eastern Europe were still in a formative stage.
The Review of Litigation The Review of Litigation (TROL) is a law journal established in 1980 at the University of Texas School of Law to serve as "a national forum of interchange of academic and practical discussion of various aspects of litigation." The journal publishes articles on "topics related to procedure, evidence, trial and appellate advocacy, alternative dispute resolution, and often-litigated substantive law."The journal publishes four issues annually, one of which is a symposium issue published in collaboration with the litigation section of American Association of Law Schools. Past topics have included mass torts and conflicts of interest.The journal is often cited in published court opinions, and is the most cited law journal in the category "Civil Litigation and Dispute Resolution" in the Washington & Lee Law School law journal rankings as of 2020.
Income statement An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) is one of the financial statements of a company and shows the company's revenues and expenses during a particular period.It indicates how the revenues (also known as the “top line”) are transformed into the net income or net profit (the result after all revenues and expenses have been accounted for). The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported.
Uncertainty Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown.
Uncertainty quantification Uncertainty quantification (UQ) is the science of quantitative characterization and reduction of uncertainties in both computational and real world applications. It tries to determine how likely certain outcomes are if some aspects of the system are not exactly known.
Knightian uncertainty In economics, Knightian uncertainty is a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk (e.g., that in statistical noise or a parameter's confidence interval). The concept acknowledges some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events.
Competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc.
Uncertainty budget The uncertainty budget is an aid for specifying the expanded measurement uncertainty. The individual measurement uncertainty factors are summarised, usually in tabular form, in the measurement uncertainty budget.
Organizational performance Organizational performance comprises the actual output or results of an organization as measured against its intended outputs (or goals and objectives).\nOrganizational performance also the success or fulfilment of organization at end of program or projects as it is intended.
Inflation An infection is the invasion of an organism's body tissues by pathogens, their multiplication, and the reaction of host tissues to the infectious agents and the toxins they produce. An infectious disease, also known as a transmissible disease or communicable disease, is an illness resulting from an infection.
Credit rating A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.\nThe credit rating represents an evaluation of a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts.
Marat Khusnullin Marat Shakirzyanovich Khusnullin (born 9 August 1966) is a Russian Tatar politician serving as Deputy Prime Minister of Russia for Construction and Regional Development since 2020. He previously served as Deputy Mayor of Moscow from 2010 to 2020.
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.
Driving Drawing is a form of visual art in which an artist uses instruments to mark paper or other two-dimensional surface. Drawing instruments include graphite pencils, pen and ink, various kinds of paints, inked brushes, colored pencils, crayons, charcoal, chalk, pastels, erasers, markers, styluses, and metals (such as silverpoint).
Knowledge acquisition Knowledge acquisition is the process used to define the rules and ontologies required for a knowledge-based system. The phrase was first used in conjunction with expert systems to describe the initial tasks associated with developing an expert system, namely finding and interviewing domain experts and capturing their knowledge via rules, objects, and frame-based ontologies.
Mergers & Acquisitions In corporate finance, mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.
Library acquisitions Library acquisitions is the department of a library responsible for the selection and purchase of materials or resources. The department may select vendors, negotiate consortium pricing, arrange for standing orders, and select individual titles or resources.Libraries, both physical and digital, usually have four common broad goals that help dictate these responsibilities.
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 Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context.
Risk Factors
G&K SERVICES INC ITEM 1A RISK FACTORS The statements in this section, as well as statements described elsewhere in this Annual Report on Form 10-K, or in other SEC filings, describe risks that could materially and adversely affect our business, financial condition and results of operations and the trading price of our securities
These risks are not the only risks that we face
Our business, financial condition and results of operations could also be materially affected by additional factors that are not presently known to us or that we currently consider to be immaterial to our operations
In addition, this section sets forth statements which constitute our cautionary statements under the Private Securities Litigation Reform Act of 1995
FORWARD-LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements
Forward-looking statements may be identified by words such as “estimates,” “anticipates,” “projects,” “plans,” “expects,” “intends,” “believes,” “seeks,” “could,” “should,” “may” and “will” or the negative versions thereof and similar expressions and by the context in which they are used
Such statements are based upon our current expectations and speak only as of the date made
These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ from those set forth in or implied by this Annual Report on Form 10-K Factors that might cause such a difference include, but are not limited to, the possibility of greater than anticipated operating costs, including energy costs, lower sales volumes, the performance and costs of integration of acquisitions, fluctuations in costs of materials and labor, costs and possible effects of union organizing activities, loss of key management, uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation, failure to achieve and maintain effective internal controls for financial reporting required by the Sarbanes-Oxley Act of 2002, the initiation or outcome of litigation, higher assumed sourcing or distribution costs of products, the disruption of operations from catastrophic events, changes in federal and state tax laws and the reactions of competitors in terms of price and service
We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made
Also note that we provide the following cautionary discussion of risks uncertainties and assumptions relevant to our businesses
Actual results may differ from certain assumptions we have made causing actual events to vary from expected results
These are factors that, individually or in the aggregate, we think could cause our actual results to differ materially from expected and historical results
We note these factors for investors as permitted by the Private Securities Litigation Reform Act of 1995
Consequently, you should not consider the following to be a complete discussion of all potential risks or uncertainties
General economic factors may adversely affect our financial performance
General economic conditions may adversely affect our financial performance
Higher levels of unemployment, inflation, tax rates and other changes in tax laws and other economic factors could adversely affect the demand for our products and services
Increases in labor costs, including healthcare and insurance costs, higher material costs for items such as linens and textiles, higher fuel and other energy costs, higher interest rates, inflation, higher tax rates and other changes in tax laws and other economic factors could increase our costs of rentals and other services and selling and administrative expenses and could adversely affect our operating results
Increased competition could adversely affect our financial performance
We operate in highly competitive industries and compete with national, regional and local providers
Product, design, price, quality, service and convenience to the customer are the primary competitive elements in these industries
If existing or future competitors seek to gain or retain market share by reducing prices, we may be required to lower prices, which would be detrimental to our operating results
Our competitors also generally compete with us for acquisition candidates, which can increase the price for acquisitions and reduce the number of available acquisition candidates
In addition, our customers and prospects may decide to perform certain services in-house instead of outsourcing such services
These competitive pressures could adversely affect our sales and operating results
6 _________________________________________________________________ [41]Table of Contents Risks associated with the suppliers from whom our products are sourced could adversely affect our operating results
The products we sell are sourced from a wide variety of domestic and international suppliers
Global sourcing of many of the products we sell is an important factor in our financial performance
All of our suppliers must comply with applicable laws, including labor and environmental laws, and otherwise be certified as meeting our required supplier standards of conduct
Our ability to find qualified suppliers who meet our standards, and to access products in a timely and efficient manner is a significant challenge, especially with respect to suppliers located and goods sourced outside the United States
Political and economic stability in the countries in which foreign suppliers are located, the financial stability of suppliers, suppliers’ failure to meet our supplier standards, labor problems experienced by our suppliers, the availability of raw materials to suppliers, currency exchange rates, transport availability and cost, inflation and other factors relating to the suppliers and the countries in which they are located are beyond our control
In addition, United States and Canadian foreign trade policies, tariffs and other impositions on imported goods, trade sanctions imposed on certain countries, the limitation on the importation of certain types of goods or of goods containing certain materials from other countries and other factors relating to foreign trade are beyond our control
These and other factors affecting our suppliers and our access to products could adversely affect our operating results
Compliance with environmental laws and regulations could result in significant costs that adversely affect our operating results
Our operating locations are subject to stringent environmental laws and regulations relating to the protection of the environment and health and safety matters, including those governing discharges of pollutants to the air and water, the management and disposal of hazardous substances and wastes and the clean-up of contaminated sites
The operation of our businesses entails risks under environmental laws and regulations
We could incur significant costs, including clean-up costs, fines and sanctions and claims by third parties for property damage and personal injury, as a result of violations or liabilities under these laws and regulations
We are currently involved in a limited number of remedial investigations and actions at various locations
While, based on information currently known to us, we believe that we maintain adequate reserves with respect to these matters, our liability could exceed forecasted amounts, and the imposition of additional clean-up obligations or the discovery of additional contamination at these or other sites could result in additional costs
In addition, potentially significant expenditures could be required to comply with environmental laws and regulations, including requirements that may be adopted or imposed in the future
Under environmental laws, an owner or operator of real estate may be required to pay the costs of removing or remediating hazardous materials located on or emanating from property, whether or not the owner or operator knew of or was responsible for the presence of such hazardous materials
While we regularly engage in environmental due diligence in connection with acquisitions, we can give no assurance that locations that have been acquired or leased have been operated in compliance with environmental laws and regulations during prior periods or that future uses or conditions will not make us liable under these laws or expose us to third-party actions, including tort suits
From time to time we are subject to legal proceedings that may adversely affect our financial condition and operating results
From time to time we are party to various litigation claims and legal proceedings
Certain of these lawsuits or potential future lawsuits, if decided adversely to us or settled by us, may result in liability material to our financial condition and operating results
We discuss these lawsuits and other litigation to which we are party in greater detail below under the