The Big End of Town Meets the Local Council: The Investment Habitus of Four Sets of Australian Councils during the GFC

The Global Financial Crisis of 2008 led to a substantial write‐down in the value of investments such as collateralised debt obligations (CDOs) with one class of investors being NSW Local councils.  This article analyses interviews with four different investor types (or sets) of local councils, each of which took a substantially different approach to CDO investment. This categorisation into sets was based on interviews of 28 individuals working within 14 local councils as well as commentaries on legal cases involving a class action of local councils suing Lehman Brothers Australia as well as Grange Securities over losses in their investments. This article adopts Bourdieu's Theory of Practice to describe and explain behaviour regarding decisions to invest (or not) in CDOs. Interesting themes arise regarding differing views on the appropriate role of local councils, and on the degree and form of ‘capital’ (which includes knowledge, competencies, skills, and economic resources) that a council should have before investing in sophisticated financial products. This article explores the role that field, habitus, and capital played in moderating and influencing council investment making decisions. The analysis shows that these Bourdieuian concepts can be utilised to help explain individual behaviour. This case study shows that excessive capital left in the hands of individuals may result in suboptimal decision making. Local councils may need to consider ways of implementing policies and procedures that can be used to moderate individual action.     

Race and Perceived Pubertal Transition Effects on Girls’ Depressive Symptoms and Delinquent Behaviors

Most past research on the effects of early pubertal timing on girls’ depressive symptoms and delinquent behavior has focused on either age of menarche or has combined multiple indicators of development into a single index of puberty. Past research has rarely examined both the onset of puberty such as age of menarche, as well more psychologically mediated impressions of puberty (i.e., perceived pubertal timing) within the same study. This study extends past research on racial differences and pubertal related effects on girls’ depressive symptoms and delinquent behavior by examining the independent influence of different indicators of puberty (age of menarche, development of breasts, and perceived pubertal timing). Two waves of data (100 % females) were used from African Americans (N = 481) and European Americans (N = 1259) who were enrolled in seventh- and eighth-grade during the first wave of data collection in the National Longitudinal Study of Adolescent Health. Early age of menarche was associated with high levels of depressive symptoms at Wave 1. Additionally, both early and late perceived pubertal timing were associated with high levels of depressive symptoms and high delinquent behaviors at Wave 1. The structural relationships among these variables were similar for African Americans and European Americans. Age of menarche and perceived pubertal timing influenced depressive symptoms and delinquent behavior at Wave 2 through depressive symptoms and delinquent behavior reported at Wave 1. The implications of these findings are discussed with an emphasis on how the specific indicator used to assess puberty is important in efforts to understand pubertal timing effects.     

Community Involvement in Rural Regeneration Partnerships: Exploring the Rural Dimension

This paper is about the involvement of local communities in rural regeneration and area development partnerships. In particular it asks questions about the extent to which there are distinctive rural elements to this which differentiate and counterpoise it to such involvement in urban areas. The paper concludes that, whilst there are some commonalities between such involvement across urban and rural communities, there are also challenges particular to rural areas. These are the spatial features of rural areas, the paucity of human capital in rural communities and a much lower resource level than in urban communities. The paper concludes that these challenges can only be met effectively in rural areas where there is strong local voluntary and community sector infrastructure to support community involvement in rural regeneration partnerships.     

Ethnicity,Perceived Pubertal Timing,Externalizing Behaviors,and Depressive Symptoms Among Black Adolescent Girls

An accumulation of research evidence suggests that early pubertal timing plays a significant role in girls’ behavioral and emotional problems. If early pubertal timing is a problematic event, then early developing Black girls should manifest evidence of this crisis because they tend to be the earliest to develop compared to other girls from different racial and ethnic groups. Given the inconsistent findings among studies using samples of Black girls, the present study examined the independent influence of perceived pubertal timing and age of menarche on externalizing behaviors and depressive symptoms in a nationally representative sample of Black girls (412 African American and 195 Caribbean Black; M = 15 years). Path analysis results indicated that perceived pubertal timing effects on externalizing behaviors were moderated by ethnic subgroup. Caribbean Black girls’ who perceived their development to be early engaged in more externalizing behaviors than Caribbean Black girls’ who perceived their development to be either on-time or late. Age of menarche did not significantly predict Black girls’ externalizing behaviors and depressive symptoms. The onset of menarche does not appear to be an important predictor of Black girls’ symptoms of externalizing behavior and depression. These findings suggest ethnic subgroup and perceived pubertal timing are promising factors for better understanding the adverse effects of early perceived pubertal timing among Black girls.     

A comparison of penetration and damage caused by different types of arrowheads on loose and tight fit clothing

Bows and arrows are used more for recreation, sport and hunting in the Western world and tend not to be as popular a weapon as firearms or knives. Yet there are still injuries and fatalities caused by these low-velocity weapons due to their availability to the public and that a licence is not required to own them. This study aimed to highlight the penetration capabilities of aluminium arrows into soft tissue and bones in the presence of clothing. Further from that, how the type and fit of clothing as well as arrowhead type contribute to penetration capacity. In this study ballistic gelatine blocks (non-clothed and loose fit or tight fit clothed) were shot using a 24 lb weight draw recurve bow and aluminium arrows accompanied by four different arrowheads (bullet, judo, blunt and broadhead).The penetration capability of aluminium arrows was examined, and the depth of penetration was found to be dependent on the type of arrowhead used as well as by the type and fit or lack thereof of the clothing covering the block. Loose fit clothing reduced penetration with half of the samples, reducing penetration capacity by percentages between 0% and 98.33%, at a range of 10 m. While the remaining half of the samples covered with tight clothing led to reductions in penetration of between 14.06% and 94.12%.The damage to the clothing and the gelatine (puncturing, cutting and tearing) was affected by the shape of the arrowhead, with the least damaged caused by the blunt arrowheads and the most by the broadhead arrows. Clothing fibres were also at times found within the projectile tract within the gelatine showing potential for subsequent infection of an individual with an arrow wound.Ribs, femur bones and spinal columns encased in some of the gelatine blocks all showed varying levels of damage, with the most and obvious damage being exhibited by the ribs and spinal column.The information gleaned from the damage to clothing, gelatine blocks and bones could potentially be useful for forensic investigators, for example, when a body has been discovered with no weapons or gunshot residue present.