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Wiki Wiki Summary
Competitive programming Competitive programming is a mind sport usually held over the Internet or a local network, involving participants trying to program according to provided specifications. Contestants are referred to as sport programmers.
Competitive landscape Competitive landscape is a business analysis method that identifies direct or indirect competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. Based on the volatile nature of the business world, where companies represent a competition to others, this analysis helps to establish a new mind-set which facilitates the creation of strategic competitiveness.Due to the hypercompetition of the environment, the traditional sources of getting competitive advantage does not represent any more an effective strategy, as a result of the emergence of a global economy and technology.
Dysphagia Dysphoria (from Ancient Greek δύσφορος (dúsphoros) 'grievous'; from δυσ- (dus-) 'bad, difficult', and φέρω (phérō) 'to bear') is a profound state of unease or dissatisfaction. It is the opposite of euphoria.
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.
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.
Extraordinary assumptions and hypothetical conditions In the field of real estate appraisal, extraordinary assumptions and hypothetical conditions are two closely related types of assumptions which are made as predicating conditions of an appraisal problem. Under the Uniform Standards of Professional Appraisal Practice (USPAP), they are two of the assignment conditions on which an appraisal assignment is predicated, the others being general assumptions, laws & regulations, supplemental standards, jurisdictional exceptions, and other conditions affecting scope of work.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Operation Mincemeat Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
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.
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.
Agile management Agile management is the application of the principles of Agile software development to various management processes, particularly project management. Following the appearance of the Manifesto for Agile Software Development in 2001, Agile techniques started to spread into other areas of activity.
Network management Network management is the process of administering and managing computer networks. Services provided by this discipline include fault analysis, performance management, provisioning of networks and maintaining quality of service.
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.
Sport management Sport management is the field of business dealing with sports and recreation. Sports management involves any combination of skills that correspond with planning, organizing, directing, controlling, budgeting, leading, or evaluating of any organization or business within the sports field.
Women Management Women Management is a modeling agency based in New York. Founded by Paul Rowland in 1988, Women also has two sister agencies, Supreme Management and Women 360 Management, which is also part of the Women International Agency Chain.
Audit risk Audit risk (also referred to as residual risk) as per ISA 200 refers to the risk that the auditor expresses an inappropriate opinion when the financial statements are materiality misstated. This risk is composed of: \n\nInherent risk (IR), the risk involved in the nature of business or transaction.
Marketing Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer.
Cost accounting Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability.
Governmental accounting Government accounting refers to the process of recording and the management of all financial transactions incurred by the government which includes its income and expenditures.\nVarious governmental accounting systems are used by various public sector entities.
Net income In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue.
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.
The Simpsons The Simpsons is an American animated sitcom created by Matt Groening for the Fox Broadcasting Company. The series is a satirical depiction of American life, epitomized by the Simpson family, which consists of Homer, Marge, Bart, Lisa, and Maggie.
Significant Mother Significant Mother is an American television sitcom created by Erin Cardillo and Richard Keith. Starring Josh Zuckerman, Nathaniel Buzolic and Krista Allen, it premiered on The CW network on August 3 and ended its run on October 5, 2015.
Internet In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party.
Transport Transport (in British English), or transportation (in American English), is the movement of humans, animals, and goods from one location to another. In other words, the action of transport is defined as a particular movement of an organism or thing from a point A (a place in space) to a point B. \nModes of transport include air, land (rail and road), water, cable, pipeline, and space.
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.
List of ministries of transport by country A ministry of transport or transportation is a ministry responsible for transportation within a country. It usually is administered by the minister for transport.
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.
Patriot Transportation Patriot Transportation is an American trucking and real estate holding company based in Jacksonville, Florida. Through its affiliates, Patriot specializes in moving freight consisting mainly of petroleum products and other liquids and also dry bulk commodities.
GE Transportation GE Transportation is a division of Wabtec. It was known as GE Rail and owned by General Electric until sold to Wabtec on February 25, 2019.
International business International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. \nIt involves cross-border transactions of goods and services between two or more countries.
Adverse possession Adverse possession, sometimes colloquially described as "squatter's rights", is a legal principle in the Anglo-American common law under which a person who does not have legal title to a piece of property—usually land (real property)—may acquire legal ownership based on continuous possession or occupation of the property without the permission (licence) of its legal owner. The possession by a person is not adverse if they are in possession as a tenant or licensee of the legal owner.
Material adverse change In the fields of mergers and acquisitions and corporate finance, a material adverse change (abbreviated MAC), material adverse event (MAE), or material adverse effect (also MAE) is a change in circumstances that significantly reduces the value of a company. A contract to acquire, invest in, or lend money to a company often contains a term that allows the acquirer, investor, or lender to cancel the transaction if a material adverse change occurs.
Customer Profitability Analysis Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g.
Industry average Industry averages (of financial ratios) are generally using as benchmarks or tools which helps business to make comparisons that helps to determine its position within the industry and evaluate financial performance of the business. It is a useful tool for business managers and investors, helps with decision making process.
Risk Factors
RYDER SYSTEM INC ITEM 1A RISK FACTORS In addition to the factors discussed elsewhere in this report, the following are some of the important factors that could affect our business
Our operating and financial results may fluctuate due to a number of factors, many of which are beyond our control
Our annual and quarterly operating and financial results are affected by a number of economic, regulatory and competitive factors, including: • changes in current financial, tax or regulatory requirements that could negatively impact the leasing market; • changes in market conditions affecting the commercial rental market or the sale of used vehicles; • our inability to obtain expected customer retention levels or sales growth targets; • our inability to maintain appropriate asset utilization rates through our asset management initiatives; • unanticipated interest rate and currency exchange rate fluctuations; • changes in assumptions related to our pension plans; • labor strikes or work stoppages affecting us or our customers; • sudden changes in fuel prices and fuel shortages; • competition from vehicle manufacturers in our UK business operations; and • changes in accounting rules, estimates, assumptions and accruals
Our failure to successfully implement new growth initiatives in our FMS business segment may negatively impact our ability to increase our leasing revenues
We have recently undertaken initiatives to restructure our FMS operations with the intention of increasing organic revenue growth in our leasing business, better servicing our customers’ business needs, improving asset utilization and realizing cost savings in the future
The initiatives include changing the structure of our operational and sales teams, realigning our business processes and reorganizing our management
There is no assurance that these initiatives will be successful or that we will not have to undertake additional initiatives in order to achieve our growth targets
12 _________________________________________________________________ [66]Table of Contents We bear the residual risk on the value of our vehicles
We generally bear the residual risk on the value of our vehicles
Therefore, if the market for used vehicles declines, we may experience lower gains or suffer losses on the sale of the vehicles
Changes in residual values also impact the overall competitiveness of our full service lease product line, as estimated sales proceeds are a critical component of the overall price of the product
Additionally, sudden changes in supply and demand together with other market factors beyond our control vary from year to year and from vehicle to vehicle, making it difficult to accurately predict residual values used in calculating our depreciation expense
Although we have developed disciplines related to the management of our vehicles that are designed to prevent these losses, there is no assurance that these practices will sufficiently reduce the residual risk
For a detailed discussion on our accounting policies and assumptions relating to depreciation and residual values, please see the section titled “Critical Accounting Estimates — Depreciation and Residual Value Guarantees” in Management’s Discussion and Analysis of Financial Condition and Results of Operations
We do not purchase vehicles for our full service lease product line until we have an executed contract with a customer
In our commercial rental product line, however, we do not purchase vehicles against specific customer contracts
Rather, we purchase vehicles and optimize the size and mix of the commercial rental fleet based upon our expectations of overall market demand for short- and long-term rentals
As a result, we bear the risk for ensuring that we have the proper vehicles in the right condition and location to effectively capitalize on this market demand to drive the highest levels of utilization and revenue per unit
We employ a sales force and operations team on a full-time basis to manage and optimize this product line
We derive a significant portion of our SCS revenue from a small number of customers, many of which are in the automotive industry
During 2005, sales to our top ten SCS customers accounted for 67prca of our SCS total revenue and 60prca of our SCS operating revenue (revenue less subcontracted transportation), with General Motors Corporation (GM) accounting for 35prca of our SCS total revenue and 18prca of our SCS operating revenue
The loss of any of these customers or a significant reduction in the services provided to any of these customers, particularly GM, could impact our domestic and international operations and adversely affect our SCS financial results
While we continue to focus our efforts on diversifying our customer base both outside and within the automotive industry, we may not be successful in doing so in the short term
In addition, the revenue derived from our SCS customers is dependent in large part on their production and sales volumes, which are impacted by economic conditions and customer spending and preferences
Production volumes in the automotive industry are sensitive to consumer demand as well as employee and labor relations
Declines in sales volumes could result in production cutbacks and unplanned plant shutdowns
To the extent that the market share of any of our largest SCS customers deteriorates, or their sales or production volumes otherwise decline, our revenues and profitability could be adversely affected
We are also subject to credit risk associated with the concentration of our accounts receivable from our SCS customers
Certain of our automotive customers have or are currently facing financial difficulties
If one or more of these customers were to become bankrupt, insolvent or otherwise were unable to pay for the services provided by us, our operating results and financial condition could be adversely affected
Our profitability could be negatively impacted by downward pricing pressure from certain of our SCS customers
Given the nature of our services and the competitive environment in which we operate, our largest SCS customers exert downward pricing pressure and often require modifications to our standard commercial terms
While we believe our ongoing cost reduction initiatives have helped mitigate the effect of price reduction pressures from our SCS customers, there is no assurance that we will be able to maintain or improve our current levels of profitability
13 _________________________________________________________________ [67]Table of Contents Substantially all of our SCS services are provided under contractual arrangements with our customers
Under most of these contracts, all or a portion of our pricing is based on certain assumptions regarding the scope of services, production volumes, operational efficiencies, the mix of fixed versus variable costs, productivity and other factors
If, as a result of subsequent changes in our customers’ business needs or operations or market forces that are outside of our control, these assumptions prove to be invalid, we could have lower margins than anticipated
Although certain of our contracts provide for renegotiation upon a material change, there is no assurance that we will be successful in obtaining the necessary price adjustments
We may face difficulties in attracting and retaining drivers
We hire drivers primarily for our DCC and SCS business segments
There is significant competition for qualified drivers in the transportation industry
As a result of driver shortages, we could be required to increase driver compensation, let trucks sit idle, utilize lower quality drivers or face difficulty meeting customer demands, all of which could adversely affect our growth and profitability
In order to serve our customers globally, we must continue to expand our international operations, which may result in additional risks
We are committed to meeting our customers’ global needs by continuing to grow our international operations in Canada, Europe, Asia and Latin America and by entering into new markets such as China
Our international operations, particularly in Latin America and Asia, are subject to adverse developments in foreign political, governmental and economic conditions, varying competitive factors, foreign currency fluctuations, potential difficulties in identifying and retaining qualified managers and personnel, potential adverse tax consequences and difficulties in protecting intellectual property rights
These factors may have a significant effect on our ability to profitably grow our international operations or retain existing customers that require global expansion
In addition, entry into new international markets requires considerable management time as well as start-up expenses for market development, staffing and establishing office facilities before any significant revenue is generated
As a result, initial operations in a new market may operate at low margins or may be unprofitable
We operate in a highly competitive industry and our business may suffer if we are unable to adequately address potential downward pricing pressures and other competitive factors
Numerous competitive factors could impair our ability to maintain our current profitability
These factors include the following: • we compete with many other transportation and logistics service providers, some of which have greater capital resources than we do; • some of our competitors periodically reduce their prices to gain business, which may limit our ability to maintain or increase prices; • because cost of capital is a significant competitive factor, any increase in either our debt or equity cost of capital as a result of reductions in our debt rating or stock price volatility could have a significant impact on our competitive position; • advances in technology require increased investments to remain competitive, and our customers may not be willing to accept higher prices to cover the cost of these investments; and • competition from logistics and freight brokerage companies that do not operate trucking fleets may adversely affect our customer relationships and prices
14 _________________________________________________________________ [68]Table of Contents We operate in a highly regulated industry, and costs of compliance with, or liability for violation of, existing or future regulations could significantly increase our costs of doing business
Our business is subject to regulation by various federal, state and foreign governmental entities
Specifically, the US Department of Transportation and various state and federal agencies exercise broad powers over our motor carrier operations, safety, and the generation, handling, storage, treatment and disposal of waste materials
We may also become subject to new or more restrictive regulations imposed by the Department of Transportation, the Occupational Safety and Health Administration, the Environmental Protection Agency or other authorities, relating to the hours of service that our drivers may provide in any one-time period, security and other matters
Compliance with these regulations could substantially impair equipment productivity and increase our costs
The Environmental Protection Agency has issued regulations that require progressive reductions in exhaust emissions from certain diesel engines through 2007
Emissions standards require reductions in the sulfur content of diesel fuel beginning in June 2006 and the introduction of emissions after-treatment devices on newly-manufactured engines and vehicles utilizing engines built after January 1, 2007
Each of these requirements could result in higher prices for tractors, diesel engines and fuel, which are passed on to our customers, as well as higher maintenance costs and uncertainty as to reliability, all of which could, over time, increase our costs and adversely affect our business and results of operations