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Home The corporate EHS function, which oversees environmental, health and safety compliance began to merge at the management level around 1990. The first area is environmental management, which emerged as a profession in the 1970s, following the creation of the U.S. Environmental Protection Agency (EPA) and other state-level regulatory systems. As companies began limiting waste to prevent pollution, they needed engineers to adapt scrubbers, filters, and other process changes to existing manufacturing systems. Workplace safety and occupational health also grew in importance during this time, with the passage of legislation such as the Occupational Safety and Health Act of 1970. Over time, companies developed systematic way of complying with environmental, health and safety regulations. Corporations began tracking key measures and looking for ways to improve their performance. Then, in the 1990s, improvements in data technology management made it easier for an organization to analyze its operations. Around that time, corporations began to merge oversight for environmental, health and safety programs through a new management role called EHS. The newly appointed leaders, who began their careers in one of the three sub-disciplines, started to create systems to drive EHS progress across all operations. Today, with the advent of sustainability, EHS professionals are leading corporate efforts toward sustainability. Building on their decades of experience, EHS leaders are striving to meet this challenge, creating systems to reduce energy use, conserve water, and better communicate with stakeholders. Indeed, a 2009 survey found that two-thirds of the sustainability initiatives at member companies are being led or managed by the EHS
Marana Unified School District / Homepage The Marana Unified School District is an integral part of the community and we take pride in knowing that the district is one of the reasons families choose to live in the Marana area.
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The Conservative Income Investor | Aside from the usual recommendations to own companies with dominant market positions, strong balance sheets, and high earnings growth, what is something that investors should keep in mind over the next 20+ years of investing that maybe didn't matter as much in the past? My view is that investors should be taking to heart the 1970s recommendations of Peter Drucker who predicted that one of the endings of perpetual technological development is that friction will cease to exist between the original source of a product and the consumer. This means that you should be wary about investing in companies that act as middlemen. Take something like Dick's Sporting Goods (DKS). It's a $5.3 billion company that is divided into 114 million pieces that trade at $47 per share each. It earns a profit of $350 million, or $3.07 per share. The valuation of 15x earnings is pretty low for a company that has ten-year top-line growth of 11.5%, ten-year earnings per share growth of 16.5%, and a valuation of 19-23x earnings during that time. Since the $3 per share IPO in October 2002, the stock has grown a $10,000 investment into $151,000 in just fourteen years. That is especially impressive when you consider that the current valuation of the stock is competitive with the recession-level P/E ratio level and is otherwise the cheapest opportunity to buy Dick's Sporting Goods since the IPO. Yet, when I study Dick's Sporting Goods, there is a limitation on the type of way it should be considered. It's not something like General Electric, Coca-Cola, Colgate-Palmolive, Nestle, or Brown Forman where you can buy the shares, and then set it and collect the dividends for the rest of your life knowing with a high probability that something will be there decades from now. There will come an expiration date for the company because the original source goods--the Nike and Under Armour products that get customers through the door--are now beginning to contact customers directly without the need for a vendor middleman like Dick's Sporting Goods to act as an intermediary to connect Nike shoes and golf clubs to the consumer. At first, I noticed that Nike and Under Armour were beginning to sell their own products directly to consumers online. That was something that would compete with Dick's Sporting Goods, but not necessarily in a mutually exclusive way--it is conceivable to think of a world where Nike and Under Armour's online sales grow while Dick's Sporting Goods also earns a tidy growing profit selling those goods to customers as well. That's because shoes, jackets, shirts, pants, and so on are the type of good you like to see firsthand and get a feel for--it's distinguishable from buying a book on Amazon because there is a certain in-person customization that enough customers will require. But what has bothered me, from the perspective of someone studying the business model at Dick's Sporting Goods, is that Nike and Under Armour have successfully opened their open stores that sell their products directly to consumers. If there is a pair of Nike shoes that you want, why not just go to Nike instead of an intermediary that will have to raise the price enough to own their own keep as well? The coherence of the intermediary's business model takes on a substantial impairment when the end products that a customer desires can be purchased through the end company itself. There are three reasons why a business earns a profit over the long term. You may buy something because it is cheap, you may buy something because it is convenient, and you may buy something because you want the specific product itself. An example of the first category is airlines--unless you belong to a frequent flyer program, you will choose which airline to travel based on price. If Delta tickets cost $139, and Southwest tickets cost $129, you're going to choose Southwest unless there is some other externality weighing on your decision--e.g. maybe you had a bad experience flying Southwest before, maybe the Delta routes are more timely, etc. Absent an intervening externality, price wins out. Convenience is the second moat, and this is the weakest of them all. You might frequent a grocery store because it's by your house--you wouldn't actively choose it based on price, and you don't seek out the grocery store for it's own sake, but it's only a five minute drive away so you go there anyway. And the third type of business is the strongest--when you want the specific product itself. You don't just want shoes--you want Nike shoes. You don't just want soda--you want something sold through Coca-Cola, Pepsi, or Dr. Pepper. You don't just want acetaminophen--you want Johnson & Johnson's Tylenol. Using our Dick's Sporting Goods example, you can see that the profits are built on convenience. People don't want Nike shoes because they bought them at Dick's Sporting Goods; they buy them at Dick's Sporting Goods because that is the most convenient way to get Nike shoes with the immediate knowledge that they fit. This is the type of business model that is the most vulnerable to disruption. It doesn't mean that you shouldn't buy Dick's Sporting Goods--the current price around $47 per share does offer some protection, but it's the kind of company that you may not want to hold beyond five years. A quick 40% pop, or the spotting of a branded company with a similar valuation to Dick's, is enough justification to get out of the company because firms built on convenience exclusively are not inherently meant to be lifetime holdings. This observation usually leads to a follow-up like: So what do you do if you own Wal-Mart stock? There are three things that Wal-Mart has going for it that might distinguish from an investment in a firm like Dick's Sporting Goods. It sells products that don't face competition from the branded source; it has the additional benefit of cost advantages in addition to convenience advantages; and the firm is 50% owned by the Walton family which reduces the inherent conflict of self-interests that exists in a corporation where there is a disunity between management and shareholders. Although Wal-Mart faces convenient and price competition from Amazon, and in some instances, Aldi and Kroger, it still offers enough of a price advantage on a decent number of offerings that it may be the preferred choice of customers not only because it is close by but also because you want to see the oranges and bananas before you buy them and there's probably not a better price if you look elsewhere either. The Wal-Mart business model isn't just built on convenience; it's built on the mixture of cost and convenience. Also, anytime you buy stock in a company, you also face the disadvantage of not fully knowing what's going on inside the company. When you buy a few hundred or a few thousand shares of a billion-dollar corporation, you can't quite measure the management team's survivalist instinct and know the specifics of how that instinct (if it exists) translates into a sound strategy that will serve shareholders well. With the Walton family collectively owning over $100 billion of the company's $214 billion in market value, you can strongly presume that the survivalist instinct exists at the management level (because the Walton family's control of the board permits them to choose officers) so the only unknown is whether the survivalist instinct translates into a strategy that permits shareholders to prosper. It's one set of unknowns instead of a double set of unknowns. The most straightforward way to solve this problem--recognizing that Wal-Mart has a strong cost and convenience advantage but unsure whether it is built to withstand the decades--is to take your Wal-Mart dividends if Wal-Mart is a meaningful position you hold and then invest them in companies that more clearly have generational-holding characteristics. If the Wal-Mart business model is only meant to grow earnings for 23 more years, well, you get at least 92 dividend payments to mitigate that final outcome. But if you're trying to figure out what should be your investing north star for the next two decades, and have concerns about the rate of disruption brought about by technological change, then you should focus on companies where people seek it out to specifically acquire the products that they sell. Strong brands should be your first priority, and can easily fill two thirds of a portfolio. Then, you focus on the low-cost producers in an industry that have some type of cost advantage--companies with the GEICO, Wells Fargo, U.S. Bancorp, Exxon business model. That can take up anywhere from 10% to 30% of your selections. And lastly, you should aim to keep less than 10% of your wealth that is earmarked for long-term business ownership towards those companies that are exclusively about convenience. Those are the businesses most susceptible to shareholder wipeout, and therefore, should be a disfavored investment category.
Hilton Head Magazines: CH2/CB2 In October of 2006, Celebrate Hilton Head (CH2) magazine came onto the scene as a fresh perspective on Hilton Head Island and the surrounding Low Country. CH2, has evolved into a well-respected publication on Hilton Head Island and in Bluffton. In reading our magzine and viewing our website, we hope that you to will discover the many reasons to enjoy Hilton Head, Bluffton and the surrounding Lowcountry.
Zak Design | Welcome to Zak Design If you have just seen children using airsoft weapons then you are probably thinking they're toy firearms designed just for kids. Nonetheless, the airsoft market is remarkably full of designs and models that range from little plastic firearms for youngsters to luxury metallic weapons which replicate the qualities of a genuine gun into a tee shirt. Even more, firearms are so realistic that they're employed in army training and at the practice of recruits for law enforcement agencies. But why does this occur? Why are our soldiers and police officers coaching with what is assumed to be a gun replica? BelowI listed all of the reasons why airsoft firearms appear to be one of the very training weapons available at the moment. #1: The realistic layout I believe that you can imagine that nobody in the army will train with a pink vinyl weapon! No, the firearms utilized to train military personnel are not the same as the ones that you'll find in the marketplace at a moderate price amount. These are especially made to replicate the burden, noise, and sense of the real steel gun since these aspects are important once you would like to boost gun and precision maneuverability. To make the airsoft weapons nearer to the actual ones, many are gas blowback versions (or even GBB) using a weighted blowback mechanism which may mimic the recoil of a true weapon. Nevertheless, you will also discover some AEGs but using the exact same strong blowback mechanism. The airsoft weapons intended for military training have been improved with special muzzleloaders which can amplify the noise of a shot to make it as authentic as you can. This increases the realistic layout and, even in case you remove the orange tip, it is going to be hard to make the difference. If you still do not think airsoft weapons are able to appear real, have a look on Goog Gun airsoft and you will have the ability to see yourself. #2: The Degree of Electricity Professional atmosphere firearms are stronger than the versions it is possible to find in the marketplace. This usually means the muzzle speed is greater allowing for ranges like what you could see in actual weapons. As you'll likely never find an airsoft rifle which shoots up to an actual one, the greater FPS is excellent in training individuals who must improve their shooting abilities. #3: Quicker than Actual Weapons If you have never shot anything by injury , you then did not manage a lot of firearms! Together with all the safety steps, an accidental release can occur to the best people. Now, try to consider a recruit who only joined the drive or a recently enlisted soldier and you'll see why airsoft weapons would be the better for coaching. You do not have the danger of killing somebody by injury and secondly, you simply take off the strain. Yesairsoft ammunition hurts and may injure if used correctly, but it is not a bullet. #4: Makes More Sense From a Financial Perspective According to experts who are employed in the army, airsoft is more economical in regards to training. As an example, one sterile round for an M16 prices up to 32 airsoft rounds. Together with the military funding moving through numerous modifications , airsoft brings the chance of inexpensive training that is critical since it retains skills sharp and individuals prepared for action. #5: You are able to Train Anywhere Firearms can not be used everywhere, even if it's only for coaching! You ought to be in a shooting selection or within a specially organized location so as to train with live ammunition. And, while dry flame is advocated, there is a time when you have to begin shooting. Having an airsoft weapon (a professional one) you can train where you desire. You may also establish a goal on your garden and test your precision. Anyone in the military will tell you that instruction is very crucial for weapon misuse and muscle memory, and airsoft delivers the chance of adding additional time into the normal program. #6: Easier to Educate Approaches Army personnel and police officers need to discover to think in a variety of scenarios and they can just do so by creating different battle simulations such as force-on-force. With airsoft weapons, simulations are more economical and safer to place together and teachers can concentrate more on teaching strategies. Even more, airsoft is a massive community and you may readily discover teams to combine if you would like to train outdoors work. It is going to be interesting for you and you're going to get to train just a tiny bit greater than your coworkers. #7: Innovation The most important reason the airsoft market is indeed well-developed now is that the US national and state institutions chose to utilize GBB airsoft engineering for strategic training in close quarters combat situations (this occurred in 2012). When the army got involved, air rifle designs developed quicker and new apparatus revealed on the marketplace. For example, the marking specimens were devised to permit military trainees to observe where their ammunition lands. The marking round rests on effect and marks the location where it lands using luminescent liquid. These days, it is possible to discover similar rounds in certain airsoft games and they're utilized to affirm a'shoot and kill'. Nevertheless, you ought to understand these rounds are somewhat heavier than normal BBs and they're largely utilized in training exercises so recruits may extrapolate from their errors and enhance performance. Another system that has been enhanced for army training is that the reusable airsoft grenade. These were especially made to emulate the dispersion of an actual exploding apparatus and they're heavily utilized in warfare game situations. Such grenades are often filled with paintbut a few usage BBs and utilize highly pressurized gas to emulate the dispersion patterns of a grenade that is real. While I do not advise using this sort of projectile at a civilian match, it's excellent in educating military personnel and educating them the appropriate protocol in these scenarios. Limitations of Airsoft Weapons Yes, they're used by the army in various training scenarios, but as soon as you pass the recruit phase, you're going to be provided a true weapon for coaching. This happens because airsoft firearms have their limitation and here are a Few of the most important ones: Pragmatic layout but nevertheless not a true weapon Understanding that you maintain an airsoft rifle lessens the pressure and provides space for irresponsible behavior -- after all you can not kill or be killed for real. Trainees can get accustomed to the concept that there is no need to utilize the security on your weapon in case you don't have actual bullets and this may raise the degree of danger in actual assignments. The scope is shut, but not exactly the same in contrast to actual weapons. Airsoft weapons do not require the Exact Same level of upkeep as actual firearms perform In general, airsoft is a superb way to begin your practice and retains your abilities and feeling sharp, however you should not get accustomed to it a great deal. Training using a true weapon and reside ammunition is a good deal more important since you'll be liable for protecting real life goals. Airsoft is also perfect for entertainment and therefore don't forget you could always blow some steam off with your staff in the local area. In the end, you have the instruction, right? Check this list to get an best airsoft gun for you.
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