bluuebunny/crossref_metadata_2025_split huggingface dataset:
STRATEGY AND SHAREHOLDER VALUE CREATION: THE REAL OPTIONS FRONTIER
Authors: Amram Martha , Kulatilaka Nalin 
Published: April 2005

The current interest in real options reflects the dramatic increase in the uncertainty of the business environment. Viewed narrowly, the real options approach is the extension of financial option pricing models to the valuation of options on real (that is, nonfinancial) assets. More broadly, the real options approach is a way of thinking that helps managers formulate their strategic options—the future opportunities that are created by today's investments—while considering their likely effect on shareholder value.But if the real options framework promises to link strategy more closely to shareholder value creation, there are some major challenges on the frontier of application. In the first part of this paper, the authors tackle the question, “What is really new about real options, and how does the approach differ from other wellestablished ways to make strategic decisions under uncertainty?” This article provides a specific definition of real options that relies on the ability to track marketpriced risk. Using examples from oil exploration and pharmaceutical drug development, the authors also show how specific features of the industry and the application itself determine the usefulness of the real options approach.The second part of the paper addresses the question: Given the many differences between real and financial options, how should a real options application be framed? The authors examine the use of real options in the valuation of Internet companies to demonstrate the required judgment and tradeoffs in the framing of real options applications. The case of Webvan, an online grocer, is used to illustrate the inter‐action between strategy, execution, and valuation.
AN INTRODUCTION TO GAME THEORY AND BUSINESS STRATEGY
Authors: Brickley James , Smith Clifford , Zimmerman Jerold 
Published: April 2005

Sound managerial decision making often requires “putting yourself behind your rivals' desk.” Assuming rivals are rational and acting in their selfinterest, what decisions are they likely to make and how are they likely to respond to your actions? A complicating factor is that rivals' optimal choices typically will depend on their expectations of what you will do; their expectations in turn depend on their assessments of your expectations about them. This type of circularity or recursive thinking might appear to make the overall problem completely intractable. Yet, this situation is precisely where game theory is most useful.This article introduces the basic elements of game theory within the context of business strategy and shows how managers might use these tools in decision making. This analysis also provides managers with a richer understanding of competition within different market settings. For example, it provides insights into why there is fierce competition in some concentrated industries (such as commercial aircraft), but not in others. Although the authors focus primarily on interactions among rival firms in product markets, these concepts also are useful to managers when dealing with other parties, such as suppliers, employees, or gov‐ernment officials.
YANKEE BONDS AND CROSS‐BORDER PRIVATE PLACEMENTS: AN UPDATE
Authors: Johnson Greg 
Published: April 2005

With U.S. Treasury yields near historical lows and the recent relaxation of U.S. regulatory reporting requirements, the U.S. bond markets are more and more frequently the markets of choice for international issuers. Total crossborder U.S. bond issuance is expected to top $350 billion in 2000, easily surpassing previous issuance levels.Overseas issuers have three primary forms through which they can participate in the U.S. long‐term debt markets: publicly traded, SEC‐registered bonds (commonly known as “Yankee” bonds); traditional private placements; and underwritten Rule 144A private placements. Each of these three financing methods has distinct benefits and limitations that should be thoroughly evaluated in light of the specific objectives of the issuer. Yankee bonds are typically the most cost efficient vehicle for large, investment grade issuers, and they are expected to account for over 75% of the $350 billion market in 2000. Second in importance is the rule 144A market, which is typically used for complex structures requiring heavy rating‐agency involvement, such as future financial flow transactions and project financings. The 144A market has also become a particular favorite with international issuers because of its less formal disclosure requirements and streamlined execution process. The private placement market continues to be the dominant choice of smaller issuers, companies with complicated “stories,” and firms that do not wish to submit to regular scrutiny by rating agencies. This article provides a detailed analysis of each type of bond issuance and the issues facing a financial officer in trying to determine the most appropriate source of long‐term debt.
Endophytic Colonization of
Vitis vinifera
L. by Plant Growth-Promoting Bacterium
Burkholderia
sp. Strain PsJN
Authors: Compant Stéphane , Reiter Birgit , Sessitsch Angela , Nowak Jerzy , Clément Christophe , Ait Barka Essaïd 
Published: April 2005

ABSTRACT

Patterns of colonization of
Vitis vinifera
L. cv. Chardonnay plantlets by a plant growth-promoting bacterium,
Burkholderia
sp. strain PsJN, were studied under gnotobiotic conditions. Wild-type strain PsJN and genetically engineered derivatives of this strain tagged with
gfp
(PsJN::
gfp
2x) or
gusA
(PsJN::
gusA
11) genes were used to enumerate and visualize tissue colonization. The rhizospheres of 4- to 5-week-old plantlets with five developed leaves were inoculated with bacterial suspensions. Epiphytic and endophytic colonization patterns were then monitored by dilution plating assays and microscopic observation of organ sections. Bacteria were chronologically detected first on root surfaces, then in root internal tissues, and finally in the fifth internode and the tissues of the fifth leaf. Analysis of the PsJN colonization patterns showed that this strain colonizes grapevine root surfaces, as well as cell walls and the whole surface of some rhizodermal cells. Cells were also abundant at lateral root emergence sites and root tips. Furthermore, cell wall-degrading endoglucanase and endopolygalacturonase secreted by PsJN explained how the bacterium gains entry into root internal tissues. Host defense reactions were observed in the exodermis and in several cortical cell layers. Bacteria were not observed on stem and leaf surfaces but were found in xylem vessels of the fifth internode and the fifth leaf of plantlets. Moreover, bacteria were more abundant in the fifth leaf than in the fifth internode and were found in substomatal chambers. Thus, it seems that
Burkholderia
sp. strain PsJN induces a local host defense reaction and systemically spreads to aerial parts through the transpiration stream.
Proteomic Profiling of RecombinantEscherichia coliin High-Cell-Density Fermentations for Improved Production of an Antibody Fragment Biopharmaceutical
Authors: Aldor Ilana S. , Krawitz Denise C. , Forrest William , Chen Christina , Nishihara Julie C. , Joly John C. , Champion Kathleen M. 
Published: April 2005

ABSTRACTBy using two-dimensional polyacrylamide gel electrophoresis, a proteomic analysis over time was conducted with high-cell-density, industrial, phosphate-limitedEscherichia colifermentations at the 10-liter scale. During production, a recombinant, humanized antibody fragment was secreted and assembled in a soluble form in the periplasm.E. coliprotein changes associated with culture conditions were distinguished from protein changes associated with heterologous protein expression. Protein spots were monitored quantitatively and qualitatively. Differentially expressed proteins were quantitatively assessed by using at-test method with a 1% false discovery rate as a significance criterion. As determined by this criterion, 81 protein spots changed significantly between 14 and 72 h (final time) of the control fermentations (vector only). Qualitative (on-off) comparisons indicated that 20 more protein spots were present only at 14 or 72 h in the control fermentations. These changes reflected physiological responses to the culture conditions. In control and production fermentations at 72 h, 25 protein spots were significantly differentially expressed. In addition, 19 protein spots were present only in control or production fermentations at this time. The quantitative and qualitative changes were attributable to overexpression of recombinant protein. The physiological changes observed during the fermentations included the up-regulation of phosphate starvation proteins and the down-regulation of ribosomal proteins and nucleotide biosynthesis proteins. Synthesis of the stress protein phage shock protein A (PspA) was strongly correlated with synthesis of a recombinant product. This suggested that manipulation of PspA levels might improve the soluble recombinant protein yield in the periplasm for this bioprocess. Indeed, controlled coexpression of PspA during production led to a moderate, but statistically significant, improvement in the yield.
Competitive Interactions in Mixed-Species Biofilms Containing the Marine Bacterium
Pseudoalteromonas tunicata
Authors: Rao Dhana , Webb Jeremy S. , Kjelleberg Staffan 
Published: April 2005

ABSTRACT

Pseudoalteromonas tunicata
is a biofilm-forming marine bacterium that is often found in association with the surface of eukaryotic organisms. It produces a range of extracellular inhibitory compounds, including an antibacterial protein (AlpP) thought to be beneficial for
P. tunicata
during competition for space and nutrients on surfaces. As part of our studies on the interactions between
P. tunicata
and the epiphytic bacterial community on the marine plant
Ulva lactuca
, we investigated the hypothesis that
P. tunicata
is a superior competitor compared with other bacteria isolated from the plant. A number of
U. lactuca
bacterial isolates were (i) identified by 16S rRNA gene sequencing, (ii) characterized for the production of or sensitivity to extracellular antibacterial proteins, and (iii) labeled with a fluorescent color tag (either the red fluorescent protein DsRed or green fluorescent protein). We then grew single- and mixed-species bacterial biofilms containing
P. tunicata
in glass flow cell reactors. In pure culture, all the marine isolates formed biofilms containing microcolony structures within 72 h. However, in mixed-species biofilms,
P. tunicata
removed the competing strain unless its competitor was relatively insensitive to AlpP (
Pseudoalteromonas gracilis
) or produced strong inhibitory activity against
P. tunicata
(
Roseobacter gallaeciensis
). Moreover, biofilm studies conducted with an AlpP
−
mutant of
P. tunicata
indicated that the mutant was less competitive when it was introduced into preestablished biofilms, suggesting that AlpP has a role during competitive biofilm formation. When single-species biofilms were allowed to form microcolonies before the introduction of a competitor, these microcolonies coexisted with
P. tunicata
for extended periods of time before they were removed. Two marine bacteria (
R. gallaeciensis
and
P. tunicata
) were superior competitors in this study. Our data suggest that this dominance can be attributed to the ability of these organisms to rapidly form microcolonies and their ability to produce extracellular antibacterial compounds.
Heat Inactivation of
Mycobacterium avium
subsp.
paratuberculosis
in Milk
Authors: McDonald Wendy L. , O'Riley Kimberly J. , Schroen Christopher J. , Condron Robin J. 
Published: April 2005

ABSTRACT

The effectiveness of pasteurization and the concentration of
Mycobacterium avium
subsp.
paratuberculosis
in raw milk have been identified in quantitative risk analysis as the most critical factors influencing the potential presence of viable
Mycobacterium paratuberculosis
in dairy products. A quantitative assessment of the lethality of pasteurization was undertaken using an industrial pasteurizer designed for research purposes with a validated Reynolds number of 62,112 and flow rates of 3,000 liters/h.
M. paratuberculosis
was artificially added to raw whole milk, which was then homogenized, pasteurized, and cultured, using a sensitive technique capable of detecting one organism per 10 ml of milk. Twenty batches of milk containing 10
3
to 10
4
organisms/ml were processed with combinations of three temperatures of 72, 75, and 78°C and three time intervals of 15, 20, and 25 s. Thirty 50-ml milk samples from each processed batch were cultured, and the logarithmic reduction in
M. paratuberculosis
organisms was determined. In 17 of the 20 runs, no viable
M. paratuberculosis
organisms were detected, which represented >6-log
10
reductions during pasteurization. These experiments were conducted with very heavily artificially contaminated milk to facilitate the measurement of the logarithmic reduction. In three of the 20 runs of milk, pasteurized at 72°C for 15 s, 75°C for 25 s, and 78°C for 15 s, a few viable organisms (0.002 to 0.004 CFU/ml) were detected. Pasteurization at all temperatures and holding times was found to be very effective in killing
M. paratuberculosis
, resulting in a reduction of >6 log
10
in 85% of runs and >4 log
10
in 14% of runs.
Direct Microbial Reduction and Subsequent Preservation of Uranium in Natural Near-Surface Sediment
Authors: Suzuki Yohey , Kelly Shelly D. , Kemner Kenneth M. , Banfield Jillian F. 
Published: April 2005

ABSTRACT

The fate of uranium in natural systems is of great environmental importance. X-ray absorption near-edge spectroscopy (XANES) revealed that U(VI) was reduced to U(IV) in shallow freshwater sediment at an open pit in an inactive uranium mine. Geochemical characterization of the sediment showed that nitrate, Fe(III), and sulfate had also been reduced in the sediment. Observations of the sediment particles and microbial cells by scanning and transmission electron microscopy, coupled with elemental analysis by energy dispersive spectroscopy, revealed that uranium was concentrated at microbial cell surfaces. U(IV) was not associated with framboidal pyrite or nanometer-scale iron sulfides, which are presumed to be of microbial origin. Uranium concentrations were not detected in association with algal cells. Phylogenetic analyses of microbial populations in the sediment by the use of 16S rRNA and dissimilatory sulfite reductase gene sequences detected organisms belonging to the families
Geobacteraceae
and
Desulfovibrionaceae
. Cultivated members of these lineages reduce U(VI) and precipitate iron sulfides. The association of uranium with cells, but not with sulfide surfaces, suggests that U(VI) is reduced by the enzymatic activities of microorganisms. Uranium was highly enriched (760 ppm) in a subsurface black layer in unsaturated sediment sampled from a pit which was exposed to seasonal fluctuations in the pond level. XANES analysis showed that the majority of uranium in this layer was U(IV), indicating that uranium is preserved in its reduced form after burial.
Agrobacterium tumefaciens
-Mediated Transformation of
Aspergillus fumigatus
: an Efficient Tool for Insertional Mutagenesis and Targeted Gene Disruption
Authors: Sugui Janyce A. , Chang Yun C. , Kwon-Chung K. J. 
Published: April 2005

ABSTRACT

Agrobacterium tumefaciens
was used to transform
Aspergillus fumigatus
by either random or site-directed integration of transforming DNA (T-DNA). Random mutagenesis via
Agrobacterium tumefaciens
-mediated transformation (ATMT) was accomplished with T-DNA containing a hygromycin resistance cassette. Cocultivation of
A. fumigatus
conidia and
Agrobacterium
(1:10 ratio) for 48 h at 24°C resulted in high frequencies of transformation (>100 transformants/10
7
conidia). The majority of transformants harbored a randomly integrated single copy of T-DNA and were mitotically stable. We chose
alb1
, a polyketide synthase gene, as the target gene for homologous integration because of the clear phenotype difference between the white colonies of Δ
alb1
mutant strains and the bluish-green colonies of wild-type strains. ATMT with a T-DNA-containing
alb1
disruption construct resulted in 66% albino transformants. Southern analysis revealed that 19 of the 20 randomly chosen albino transformants (95%) were disrupted by homologous recombination. These results suggest that ATMT is an efficient tool for transformation, random insertional mutagenesis, and gene disruption in
A. fumigatus
.
High-Temperature-Induced Transposition of Insertion Elements in
Burkholderia multivorans
ATCC 17616
Authors: Ohtsubo Yoshiyuki , Genka Hiroyuki , Komatsu Harunobu , Nagata Yuji , Tsuda Masataka 
Published: April 2005

ABSTRACT

An efficient and quantitative method to analyze the transposition of various insertion sequence (IS) elements in
Burkholderia multivorans
ATCC 17616 was devised. pGEN500, a plasmid carrying a
Bacillus subtilis
-derived
sacB
gene, was introduced into ATCC 17616 cells, and 25% of their sucrose-resistant derivatives were found to carry various IS elements on pGEN500. A PCR-based experimental protocol, in which a mixture of several specific primer pairs was used, revealed that pGEN500 captured, in addition to five previously reported IS elements (IS
401
, IS
402
, IS
406
, IS
407
, and IS
408)
, three novel IS elements, IS
Bmu1
, IS
Bmu2
, and IS
Bmu3
. The global transposition frequency of these IS elements was enhanced more than sevenfold under a high-temperature condition (42°C) but not under oxidative stress or starvation conditions. To our knowledge, this is the first report demonstrating the elevated transposition activities of several IS elements at a high temperature. The efficient experimental protocol developed in this study will be useful in quantitatively and simultaneously investigating various IS elements, as well as in capturing novel functional mobile elements from a wide variety of bacteria.
Potential of the Polyvalent Anti-
Staphylococcus
Bacteriophage K for Control of Antibiotic-Resistant Staphylococci from Hospitals
Authors: O'Flaherty S. , Ross R. P. , Meaney W. , Fitzgerald G. F. , Elbreki M. F. , Coffey A. 
Published: April 2005

ABSTRACT

The increasing prevalence of antibiotic-resistant staphylococci has prompted the need for antibacterial controls other than antibiotics. In this study, a lytic bacteriophage (phage K) was assessed in vitro for its ability to inhibit emerging drug-resistant
Staphylococcus aureus
strains from hospitals and other species of
Staphylococcus
isolated from bovine infections. In in vitro inhibitory assays, phage K lysed a range of clinically isolated methicillin-resistant
S. aureus
(MRSA) strains,
S. aureus
with heterogeneous vancomycin resistance and vancomycin resistance, and teicoplanin-resistant strains. In these assays, 14 of the MRSA strains were initially only weakly sensitive to this phage. However, propagation of phage K on these less-sensitive strains resulted in all 14 being sensitive to the modified phages. The results enforce the principle that, while certain target bacteria may be relatively insensitive to lytic phage, this can be overcome by obtaining modified phage variants from passage of the phage through the insensitive strains. Model in situ hand wash studies using a phage-enriched wash solution resulted in a 100-fold reduction in staphylococcal numbers on human skin by comparison with numbers remaining after washing in phage-free solution. Infusion of the phage into a nonimmunogenic bismuth-based cream resulted in strong anti-
Staphylococcus
activity from the cream on plates and in broth.
Exposure to Cadmium Elevates Expression of Genes in the OxyR and OhrR Regulons and Induces Cross-Resistance to Peroxide Killing Treatment in
Xanthomonas campestris
Authors: Banjerdkij Peerakan , Vattanaviboon Paiboon , Mongkolsuk Skorn 
Published: April 2005

ABSTRACT

Cadmium is an important heavy metal pollutant. For this study, we investigated the effects of cadmium exposure on the oxidative stress responses of
Xanthomonas campestris
, a soil and plant pathogenic bacterium. The exposure of
X. campestris
to low concentrations of cadmium induces cross-protection against subsequent killing treatments with either H
2
O
2
or the organic hydroperoxide
tert
-butyl hydroperoxide (tBOOH), but not against the superoxide generator menadione. The cadmium-induced resistance to peroxides is due to the metal's ability to induce increased levels of peroxide stress protective enzymes such as alkyl hydroperoxide reductase (AhpC), monofunctional catalase (KatA), and organic hydroperoxide resistance protein (Ohr). Cadmium-induced resistance to H
2
O
2
is dependent on functional OxyR, a peroxide-sensing transcription regulator. Cadmium-induced resistance to tBOOH shows a more complex regulatory pattern. The inactivation of the two major sensor-regulators of organic hydroperoxide, OxyR and OhrR, only partially inhibited cadmium-induced protection against tBOOH, suggesting that these genes do have some role in the process. However, other, as yet unknown mechanisms are involved in inducible organic hydroperoxide protection. Furthermore, we show that the cadmium-induced peroxide stress response is mediated by the metal's ability to predominately cause an increase in intracellular concentrations of organic hydroperoxide and, in part, H
2
O
2
. Analyses of various mutants of peroxide-metabolizing enzymes suggested that this increase in organic hydroperoxide levels is, at least in part, responsible for cadmium toxicity in
Xanthomonas
.
Development of an Immunomagnetic Bead-Immunoliposome Fluorescence Assay for Rapid Detection of
Escherichia coli
O157:H7 in Aqueous Samples and Comparison of the Assay with a Standard Microbiological Method
Authors: DeCory Thomas R. , Durst Richard A. , Zimmerman Scott J. , Garringer Linda A. , Paluca Gary , DeCory Heleen H. , Montagna Richard A. 
Published: April 2005

ABSTRACT

The objective of this study was to develop and optimize a protocol for the rapid detection of
Escherichia coli
O157:H7 in aqueous samples by a combined immunomagnetic bead-immunoliposome (IMB/IL) fluorescence assay. The protocol consisted of the filtration or centrifugation of 30- to 100-ml samples followed by incubation of the filter membranes or pellet with anti-
E. coli
O157:H7 immunomagnetic beads in growth medium specific for
E. coli
O157:H7. The resulting
E. coli
O157:H7-immunomagnetic bead complexes were isolated by magnetic separation, washed, and incubated with sulforhodamine B-containing immunoliposomes specific for
E. coli
O157:H7; the final immunomagnetic bead-
E. coli
O157:H7-immunoliposome complexes were again isolated by magnetic separation, washed, and lysed with a
n
-octyl-β-
d
-glucopyranoside to release sulforhodamine B. The final protocol took less than 8 h to complete and had a detection limit of less than 1 CFU of
E. coli
O157:H7 per ml in various aqueous matrices, including apple juice and cider. To validate the protocol at an independent facility, 100-ml samples of groundwater with and without
E. coli
O157:H7 (15 CFU) were analyzed by a public health laboratory using the optimized protocol and a standard microbiological method. While the IMB/IL fluorescence assay was able to identify
E. coli
O157:H7-containing samples with 100% accuracy, the standard microbiological method was unable to distinguish
E. coli
O157:H7-spiked samples from negative controls without further extensive workup. These results demonstrate the feasibility of using immunomagnetic beads in combination with sulforhodamine B-encapsulating immunoliposomes for the rapid detection of
E. coli
O157:H7 in aqueous samples.