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Wiki Wiki Summary
Canadians Canadians (French: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural.
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over 9.98 million square kilometres (3.85 million square miles), making it the world's second-largest country by total area.
Provinces and territories of Canada The provinces and territories of Canada are sub-national administrative divisions within the geographical areas of Canada under the jurisdiction of the Canadian Constitution. In the 1867 Canadian Confederation, three provinces of British North America—New Brunswick, Nova Scotia, and the Province of Canada (which upon Confederation was divided into Ontario and Quebec)—united to form a federation, becoming a fully independent country over the next century.
Canadian Armed Forces The Canadian Armed Forces (CAF; French: Forces armées canadiennes; FAC) is the unified military of Canada, including sea, land, and air elements referred to as the Royal Canadian Navy, Canadian Army, and Royal Canadian Air Force.\nPersonnel may belong to either the Regular Force or the Reserve Force, which has four sub-components: the Primary Reserve, Supplementary Reserve, Cadet Organizations Administration and Training Service, and the Canadian Rangers.
List of Canadian provinces and territories by Human Development Index This is a list of Canadian provinces and territories by their Human Development Index, which is a comparative measure of life expectancy, literacy, education, standard of living and overall well-being of the citizens in each province and territory. All Canadian provinces and territories have a very high (greater than 0.800) HDI. The 2019 estimate merges the provinces and territories of Prince Edward Island, Northwest Territories, Nunavut and Yukon into one, rather than classifying them separately.
Canadian English Canadian English (CanE, CE, en-CA) encompasses the varieties of English native to Canada. According to the 2016 census, English was the first language of 19.4 million Canadians or 58.1% of the total population; the remainder spoke French (20.8%) or other languages (21.1%).
List of Canadian writers This is a list of Canadian literary figures, including poets, novelists, children's writers, essayists, and scholars.
Canadian Pacific Railway The Canadian Pacific Railway (reporting marks CP, CPAA, MILW, SOO), also known simply as CPR or Canadian Pacific and formerly as CP Rail (1968–1996), is a Canadian Class I railway incorporated in 1881. The railway is owned by Canadian Pacific Railway Limited, which began operations as legal owner in a corporate restructuring in 2001.Headquartered in Calgary, Alberta, it owns approximately 20,100 kilometres (12,500 mi) of track in seven provinces of Canada and into the United States, stretching from Montreal to Vancouver, and as far north as Edmonton.
Indigenous peoples in Canada Indigenous peoples in Canada (also known as Aboriginal peoples) are the Indigenous peoples within the boundaries of Canada. They comprise the First Nations, Inuit and Métis.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Financial ratio A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
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.
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.
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.
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.
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.
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.
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".
Consolidation (business) In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements.
Adverse effect An adverse effect is an undesired harmful effect resulting from a medication or other intervention, such as surgery. An adverse effect may be termed a "side effect", when judged to be secondary to a main or therapeutic effect.
Assets under management In finance, assets under management (AUM), sometimes called funds under management, measures the total market value of all the financial assets which an individual or financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol controls, typically on behalf of a client. These funds may be managed for clients/users or for themselves in the case of a financial institution which has mutual funds or holds its own venture capital.
Life Insurance Corporation Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation headquartered in the city of Mumbai, India. It is under the ownership of Government of India.
Ivor Montagu Ivor Goldsmid Samuel Montagu (23 April 1904, in Kensington, London – 5 November 1984, in Watford) was an English filmmaker, screenwriter, producer, film critic, writer, table tennis player, and Communist activist in the 1930s. He helped to develop a lively intellectual film culture in Britain during the interwar years, and was also the founder of the International Table Tennis Federation.
Decree nisi A decree nisi or rule nisi (from Latin nisi 'unless') is a court order that will come into force at a future date unless a particular condition is met. Unless the condition is met, the ruling becomes a decree absolute (rule absolute), and is binding.
Botswana Botswana ( (listen), also UK: ), officially the Republic of Botswana (Setswana: Lefatshe la Botswana, [lɪˈfatsʰɪ la bʊˈtswana]), is a landlocked country in Southern Africa. Botswana is topographically flat, with up to 70 percent of its territory being the Kalahari Desert.
North American Free Trade Agreement The North American Free Trade Agreement (NAFTA ; Spanish: Tratado de Libre Comercio de América del Norte, TLCAN; French: Accord de libre-échange nord-américain, ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada.
Penal transportation Penal transportation or transportation was the relocation of convicted criminals, or other persons regarded as undesirable, to a distant place, often a colony, for a specified term; later, specifically established penal colonies became their destination. While the prisoners may have been released once the sentences were served, they generally did not have the resources to return home.
Transportation engineering Transportation engineering or transport engineering is the application of technology and scientific principles to the planning, functional design, operation and management of facilities for any mode of transportation in order to provide for the safe, efficient, rapid, comfortable, convenient, economical, and environmentally compatible movement of people and goods transport. \nThe planning aspects of transportation engineering relate to elements of urban planning, and involve technical forecasting decisions and political factors.
Bombardier Transportation Bombardier Transportation was a Canadian-German rolling stock and rail transport manufacturer, headquartered in Berlin, Germany.\nIt was one of the world's largest companies in the rail vehicle and equipment manufacturing and servicing industry.
Department of transportation Department of transportation (DOT) is the most common name for a government agency in Canada or the United States devoted to transportation. The largest is the United States Department of Transportation, which oversees interstate travel and is a federal agency.
Piggyback (transportation) Piggyback transportation refers to the transportation of goods where one transportation unit is carried on the back of something else. It is a specialised form of intermodal transportation and combined transport.
Risk Factors
PORTEC RAIL PRODUCTS INC ITEM 1A RISK FACTORS Risk Factors Relating to Our Business Currency fluctuations between the US dollar, Canadian dollar and British pound sterling can adversely affect our reported financial results
Fluctuations in the relative values of the US dollar, Canadian dollar and British pound sterling could significantly increase the cost of our products to the ultimate purchaser
Under such circumstances our sales may decrease or we may have to reduce the prices for our products and services, thereby reducing our income
We report our financial condition and results of operations in US dollars
Fluctuations in the relative values of the US dollar, Canadian dollar and British pound sterling will require adjustments in our reported earnings and operations to reflect exchange rate translation in our Canadian and United Kingdom sales and operations
Our reported financial results will be impacted in response to such currency fluctuations
If the US dollar strengthens in value as compared to the value of the Canadian dollar or British pound sterling, our reported earnings in dollars from sales in those currencies will be unfavorable
We have limited international protection of our intellectual property
We own a number of patents and trademarks under the intellectual property laws of the United States, Canada and the United Kingdom
Our patent protections begin expiring in 2014
However, we have not perfected patent and trademark protection of our proprietary intellectual property in other countries
The failure to obtain 10 _________________________________________________________________ patent and trademark protection in other countries may result in other companies copying and marketing products that are based upon our proprietary intellectual property
This could impede our growth into new markets where we do not have such protections and result in greater supplies of similar products, which in turn could result in a loss of pricing power and reduced revenue
We may not achieve benefits from future acquisitions
Our business strategy includes the potential acquisition of businesses that we expect would complement and expand our existing products and services
We may not be able to successfully identify suitable acquisition opportunities or complete any particular acquisition, combination or other transaction on acceptable terms
In addition, the timing and success of our efforts to acquire any particular business and integrate the acquired business into our existing operations cannot be predicted
Acquisitions involve a number of risks and challenges, including: • diversion of management’s attention; • the need to integrate acquired operations, internal controls and operational functions; • potential loss of key employees and customers of the acquired companies; • an increase in our expenses and working capital requirements; and • increased debt or dilution from issuance of common stock
Any of these factors could adversely affect our ability to achieve anticipated benefits from an acquisition
Disruption of our relationships with key suppliers would adversely affect our business
We rely upon third party steel mills to manufacture steel for our railroad track products based upon specifications that we provide
In 2005, approximately 90prca of our domestic requirements for steel were purchased from two primary suppliers, and approximately 80prca of our Canadian requirements were purchased from Norambar Inc
In the event our steel suppliers for railroad track products were to go out of business, refuse to continue their business relationship with us or become subject to work stoppages, our business would be disrupted
While management believes that it could secure alternative manufacturing sources, there can be no assurance that we would not incur substantial delays and significant expense in securing such alternative suppliers
Furthermore, alternative suppliers might charge significantly higher prices than we currently pay
Under such circumstances, the disruption to our business may have a material adverse impact on our financial condition or results of operations
If we lose key personnel or qualified technical staff, our ability to manage the day-to-day aspects of our business will be adversely affected
We believe that the attraction and retention of qualified personnel is critical to our success
If we lose key personnel or are unable to recruit qualified personnel, our ability to manage the day-to-day aspects of our business will be adversely affected
Our operations and prospects depend in large part on the performance of our senior management team, which consists of our President and Chief Executive Officer, John S Cooper, and Group Vice Presidents Richard J Jarosinski and Konstantinos Papazoglou
The loss of the services of one or more members of our senior management team could have a material adverse effect on our business, financial condition or results of operations
Because our senior management team has many years experience with our company and within the industries in which we operate, it would be difficult to replace them without adversely affecting our business operations
We do not have employment or non-compete agreements with any members of our senior management team
As we expand our sales of products and services internationally, we will increase our exposure to international economic and political risks
Historically, substantially all of our business was conducted in the United States, Canada and the United Kingdom
International revenues outside of our core United States, Canada and United Kingdom markets accounted for 9prca and 8prca of our revenues for the years ended December 31, 2005 and 2004, respectively
We are placing increased emphasis on the expansion of our international sales opportunities
Doing business outside the United States subjects us to various risks, including changing economic and political conditions, work stoppages, exchange controls, currency fluctuations, armed conflicts and unexpected changes in United States and foreign laws relating to 11 _________________________________________________________________ tariffs, trade restrictions, transportation regulations, foreign investments and taxation
Increasing sales to foreign countries will expose us to increased risk of loss from foreign currency fluctuations and exchange controls as well as longer accounts receivable payment cycles
We have no control over most of these risks and may be unable to anticipate changes in international economic and political conditions and, therefore, unable to alter our business practices in time to avoid the adverse effect of any of these possible changes
We have a significant pension liability, which negatively impacts our retained earnings and may significantly increase our funding requirements under ERISA and other applicable regulations
We maintain defined benefit pension plans in the United States and United Kingdom that cover a significant number of our current employees, former employees and retirees
These defined benefit pension plans were frozen effective December 31, 2003
Our actuaries currently project that our obligations to the pension plan’s beneficiaries exceed the plan’s assets
The shortfall in plan assets may cause us to fund significant amounts of cash into these plans to cover any minimum funding requirements under regulatory requirements
As a result, for the years ended December 31, 2005 and 2004, our shareholders’ equity was reduced by dlra87cmam000 and dlra882cmam000, respectively, in order to reflect our minimum pension liability
Further declines in the market value of these defined benefit pension plan assets will have an adverse impact on our retained earnings and uses of cash for other investment opportunities
We may be required to record a significant charge to earnings if our goodwill or intangible assets become impaired
We are required under generally accepted accounting principles to review our intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable
Goodwill is required to be tested for impairment at least annually
Factors that may be considered to be a change in circumstances indicating that the carrying value of our intangible assets may not be recoverable include a decline in stock price and market capitalization, a significant decrease in the market value of an asset, and slower growth rates in our industry
We may be required to record a significant charge to earnings during the period in which any impairment of our goodwill or intangible assets is determined
This may adversely impact our results of operations or financial condition
Risk Factors Relating to Our Industry Our sales can fluctuate from quarter to quarter due to seasonal factors or the our railroad customers’ capital spending programs
Our sales can fluctuate from quarter to quarter because of several factors
First, the demand for certain of our railroad product lines, including rail joints, rail anchors and spikes, is subject to seasonal fluctuations
We generally experience strong sales in the second quarter as a result of seasonal pick-up in construction and trackwork due to favorable spring weather conditions, compared with an expected downturn in the fourth quarter of each year due largely to reductions in construction and trackwork in the winter months
Notwithstanding expected seasonal fluctuations, many of our customers are large companies which, as a matter of routine purchasing practices, place large orders for our products and services that can have a disproportionate impact on our revenues in a particular quarter
Such large orders in any given quarter improve the sales performance of that quarter
Conversely, if a major customer delays spending in a particular quarter, our revenue decreases in that quarter
A decrease in rail traffic or rail capital expenditures due to weakness in the general economy or competitive factors could adversely affect our operating results
Weakness in the general economy, or factors such as work stoppage or competition from other modes of transportation, can cause a decrease in rail transportation or rail capital expenditures, which could have an adverse impact on our financial condition or results of operations
For example, railroads directly compete with the trucking industry for the transportation of freight
In the event that the transportation of freight by truck becomes preferable as a result of pricing, legislative developments or other factors, the profitability of railroads would be adversely affected resulting in a decrease in capital spending
A decrease in capital spending by our railroad customers would result in lower sales of our products and decreased revenue
12 _________________________________________________________________ Competition and innovation by our competitors may adversely affect our business
The markets for our products are highly competitive
Competition is based on price, product performance, technological leadership, customer service and other factors
Technological innovation in the railroad and railroad supply industry has evolved and continues to evolve
Technological innovation by any of our existing competitors, or new competitors entering any of the markets in which we do business, could put us at a competitive disadvantage
In particular, our business would be adversely affected if any existing or new competitors developed improved or less expensive products
New or existing competitors may import track component products for sale in the North American market at reduced prices
Our rail joint, rail anchor, rail spike and other track component market share could be reduced by new or existing competitors importing either raw material steel for these products or finished products from lower cost foreign sources
Standard rail joints are currently available, imported from Asia, and have been approved for use and are being purchased by Class I and short line railroads
Further consolidation of the railroad industry may adversely affect our business
Over the past 10 years there has been a consolidation of railroad carriers operating in North America
Currently, seven Class I railroads operate in the United States, along with two major railroads in Canada and two major railroads in Mexico
Future consolidation of the railroad industry may affect our sales and result in reduced income because the loss of a Class I account to competitors would have greater significance
Risk Factors Relating to Our Stock Ownership Potential voting control by directors, management and employees could make a takeover attempt more difficult to achieve
Our directors, management and employees control a significant percentage of our common stock
Executive officers and directors as a group own 3cmam282cmam352 shares, or 34dtta2prca of the outstanding shares as of December 31, 2005
If these individuals were to act together, they could have significant influence over or control the outcome of any shareholder vote
This voting power may discourage takeover attempts that other shareholders may desire