U.S. Securities and Exchange Commission
The U. S. Securities and Exchange Commission is an independent agency of the United States federal government; the SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, regulating the securities industry, the nation's stock and options exchanges, other activities and organizations, including the electronic securities markets in the United States. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, other statutes; the SEC was created by Section 4 of the Securities Exchange Act of 1933. The SEC has a three-part mission: to protect investors. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual reports, as well as other periodic reports. In addition to annual financial reports, company executives must provide a narrative account, called the "management discussion and analysis", that outlines the previous year of operations and explains how the company fared in that time period.
MD&A will also touch on the upcoming year, outlining future goals and approaches to new projects. In an attempt to level the playing field for all investors, the SEC maintains an online database called EDGAR online from which investors can access this and other information filed with the agency. Quarterly and semiannual reports from public companies are crucial for investors to make sound decisions when investing in the capital markets. Unlike banking, investment in the capital markets is not guaranteed by the federal government; the potential for big gains needs to be weighed against that of sizable losses. Mandatory disclosure of financial and other information about the issuer and the security itself gives private individuals as well as large institutions the same basic facts about the public companies they invest in, thereby increasing public scrutiny while reducing insider trading and fraud; the SEC makes reports available to the public through the EDGAR system. The SEC offers publications on investment-related topics for public education.
The same online system takes tips and complaints from investors to help the SEC track down violators of the securities laws. The SEC adheres to a strict policy of never commenting on the existence or status of an ongoing investigation. Prior to the enactment of the federal securities laws and the creation of the SEC, there existed so-called blue sky laws, they were enacted and enforced at the state level and regulated the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws varied among states, they all required the registration of all securities offerings and sales, as well as of every U. S. stockbroker and brokerage firm. However, these blue sky laws were found to be ineffective. For example, the Investment Bankers Association told its members as early as 1915 that they could "ignore" blue sky laws by making securities offerings across state lines through the mail. After holding hearings on abuses on interstate frauds, Congress passed the Securities Act of 1933, which regulates interstate sales of securities at the federal level.
The subsequent Securities Exchange Act of 1934 regulates sales of securities in the secondary market. Section 4 of the 1934 act created the U. S. Securities and Exchange Commission to enforce the federal securities laws; the Securities Act of 1933 is known as the "Truth in Securities Act" and the "Federal Securities Act", or just the "1933 Act". Its goal was to increase public trust in the capital markets by requiring uniform disclosure of information about public securities offerings; the primary drafters of 1933 Act were Huston Thompson, a former Federal Trade Commission chairman, Walter Miller and Ollie Butler, two attorneys in the Commerce Department's Foreign Service Division, with input from Supreme Court Justice Louis Brandeis. For the first year of the law's enactment, the enforcement of the statute rested with the Federal Trade Commission, but this power was transferred to the SEC following its creation in 1934. In 1934, Roosevelt named his friend Joseph P. Kennedy, a self-made multimillionaire financier and a leader among the Irish-American community, as the insider-as-chairman who knew Wall Street well enough to clean it up.
Two of the other five commissioners were Ferdinand Pecora. Kennedy added a number of intelligent young lawyers, including William O. Douglas and Abe Fortas, both of whom became Supreme Court justices. Kennedy's team defined the mission and operating mode for the SEC, making full use of its wide range of legal powers; the SEC had four missions. First and most important was to restore investor confidence in the securities market, which had collapsed because of doubts about its internal integrity, fears of the external threats posed by anti-business elements in the Roosevelt administration. Second, in terms of integrity, the SEC had to get rid of the penny-ante swindles based on fake i
On Earth, daytime is the period of the day during which any given point in the world experiences natural illumination from direct sunlight. Daytime occurs when the Sun appears above the local horizon, that is, anywhere on the globe's hemisphere facing the Sun. During daytime, an observer sees indirect sunlight while in the shade, which includes cloud cover.'Day' is sometimes used instead of'daytime', in this case'day' will mean'the period of light between dawn and nightfall. However, in this context, in order to be clear "daytime" should be used distinguish it from "day" which refers to a 24-hour period. Other planets and natural satellites that rotate relative to a luminous primary body, such as a local star experience daytime of some sort, but this article discusses daytime on Earth. Half of the Earth is illuminated at any time by the Sun; the area subjected to direct illumination is exactly half the planet. The hemisphere of the Earth experiencing daytime at any given instant changes continuously as the planet rotates on its own axis.
The axis of the Earth's rotation is not perpendicular to the plane of its orbit around the Sun, so the length of the daytime period varies from one point on the planet to another. Additionally, since the axis of rotation is fixed in comparison to the stars, it moves with respect to the Sun as the planet orbits the star; this creates seasonal variations in the length of the daytime period at most points on the planet's surface. The period of daytime from the standpoint of a surface observer is defined as the period between sunrise, when the Earth's rotation towards the east first causes the Sun's disc to appear above the horizon, to sunset, when the continuing rotation of the Earth causes the Sun's disc to disappear below the horizon to the west; because the Sun is a luminous disc as seen from the Earth, rather than a point source of light and sunset are not instantaneous and the exact definition of both can vary with context. Additionally, the Earth's atmosphere further bends and diffuses light from the Sun and lengthens the period of sunrise and sunset.
For a certain period after sunset and before sunrise, indirect light from the Sun lightens the sky on Earth. Certain groups, such as Earthly astronomers, do not consider daytime to be ended until the Sun's disc is well below the Earth's horizon, because of this indirect illumination. Given that Earth's own axis of rotation is tilted about 23.5° to the line perpendicular to its orbital plane, called the ecliptic, the length of daytime varies with the seasons on the planet's surface, depending on the observer's latitude. Areas tilted toward the Sun are experiencing summer, their tilt toward the Sun leads to more than half of the day seeing daylight and warmer temperatures, due to the higher directness of solar rays, the longer period of daytime itself, less absorption of sunlight in the atmosphere. While increased daylight can have some effect on the higher temperatures in the summer, most of temperature rise results from the directness of the Sun, not the increased daylight; the high angles of the Sun causes the tropics to be warm, while low angles causes the polar regions to be cold.
The slight effect of daylight hours on average seasonal temperature can be seen with the poles and tropical regions. The poles are still cold during their respective summers, despite seeing 24 hours of daylight for six months, while the Equator remains warm throughout the year, with only 12 hours of daylight per day. Although the daytime length at the Equator remains 12 hours in all seasons, the duration at all other latitudes varies with the seasons. During the winter, daytime lasts shorter than 12 hours. Northern winter and southern summer concur, while northern summer and southern winter concur. At the Equator, the daytime period always lasts about 12 hours, regardless of season; as viewed from the Equator, the Sun always rises and sets vertically, following an apparent path nearly perpendicular to the horizon. Due to the axial tilt of Earth, Sun always lies within 23.5° north or south of the celestial equator, so the subsolar point always lies within the tropics. From the March equinox to the September equinox, the Sun rises within 23.5° north of due east, sets within 23.5° north of due west.
From the September equinox to the March equinox, the Sun rises within 23.5° south of due east and sets within 23.5° south of due west. The Sun's path lies in the northern half of the celestial sphere from the March equinox to the September equinox, but lies in the southern half of the celestial sphere from the September equinox to the March equinox. On the equinoxes, the equatorial Sun culminates at the zenith, passing directly overhead at solar noon; the fact that the equatorial Sun is always so close to the zenith at solar noon explains why the tropical zone contains the warmest regions on the planet overall. Additionally, the Equator sees the shortest sunrise or sunset because the Sun's path across the sky is so nearly perpendicular to the horizon. On the equinoxes, the solar disk takes only two minutes to traverse the horizon; the tropics occupy a zone of 23.5 ° south of the Equator. Within this zone, the Sun will p
Carlisle is a borough in and the county seat of Cumberland County, United States. Carlisle is located within the Cumberland Valley, a productive agricultural region; as of the 2010 census, the borough population was 18,682. Including suburbs in the neighboring townships, 37,695 live in the Carlisle urban cluster. Carlisle is the smaller principal city of the Harrisburg−Carlisle Metropolitan Statistical Area, which includes all of Cumberland and Perry counties in South Central Pennsylvania. In 2010, Forbes rated Harrisburg the second-best place to raise a family; the U. S. Army War College, located at the Carlisle Barracks, prepares high-level military personnel and civilians for strategic leadership responsibilities. Carlisle Barracks ranks among the oldest U. S. Army installations and the most senior military educational institution in the United States Army. Carlisle Barracks is home of the United States Army Heritage and Education Center, an archives and museum complex open to the public. Carlisle hosts Dickinson College and Penn State Dickinson School of Law.
Ahold's U. S. headquarters are in Carlisle. Scots-Irish immigrants farmed the Cumberland Valley beginning in the early 1730s; the town of Carlisle, at the intersection of several Indian trails, was designated by the Pennsylvania assembly and the William Penn family in 1751 as the seat of Cumberland County. American pioneer John Armstrong Sr. a surveyor for the Penn family, laid the plan for the town of Carlisle in 1751. He settled there and fathered John Armstrong Jr. in 1758. They named the settlement after its sister town of Carlisle, Cumberland and built its former jailhouse to resemble The Citadel in the English city. On the frontier confronting hostile Native American tribes, the town built a stockade for protection in 1753. Upgraded by the colony in 1755, it was called Ft. Carlisle. In 1757, Colonel Commandant John Stanwix—for whom Fort Stanwix in upstate New York is named—–made his headquarters in Carlisle, PA, was promoted to brigadier general on December 27 of that year. Stanwix had sat in Parliament as Member for Carlisle during the 1740s.
During the French and Indian Wars, the Forbes Expedition organized in Carlisle in 1758, Henry Bouquet organized an expedition there for Pontiac's War, the last conflict of the war, in 1763. Frontier freedom mentality and years of war bred in Cumberland County fierce freedom fighters in the Revolutionary War. In the town stands the home of James Wilson, early Carlisle lawyer, representative to the Continental Congress, a signer of the Declaration of Independence, one of the framers of the U. S. Constitution; the First Presbyterian Church, begun in 1757 and completed in 1770, the oldest building in Carlisle, is where the Rev. Capt John Steele, "The Fighting Parson," preached his fiery sermons for God and freedom and where colonists met July 12, 1774, to sign a document protesting the Boston Port Acts. A year Carlisle supplied a contingent for the first regiment of the Continental Army. Rev. Capt. John Steel was named commander of the leading company of this group. No longer standing but marked by a historical marker is the home of Ephraim Blaine, Commissary General of Revolutionary Army.
No longer standing but commemorated, is the home of Gen. John Armstrong Sr. "Hero of Kittanning," Revolutionary officer, member of the Continental Congress. Still standing is the gun shop of Thomas Butler Sr. an Irish immigrant, who manufactured Pennsylvania long rifles for the French and Indian War. He became Chief Armorer for The First Continental Congress, he and his five sons were known as "The Fighting Butlers. His eldest son was Richard Butler. Carlisle served as a munitions depot during the American Revolutionary War; the depot was developed into the United States Army War College at Carlisle Barracks. Revolutionary War legend Molly Pitcher died in the borough in 1832, her body lies buried in the Old Public Graveyard. A hotel was built in her honor, called the Molly Pitcher Hotel. Carlisle was incorporated as a borough a few years after the war on April 13, 1782. Carlisle continued to play a part in the early development in the United States through the end of the century: In response to a planned march in favor of the United States Constitution in 1787, Anti-Federalists instigated a riot in Carlisle.
A decade during the Whiskey Rebellion in 1794, the troops of Pennsylvania and New Jersey assembled in Carlisle under the leadership of President George Washington. While in Carlisle, the president worshiped in the First Presbyterian Church at the corner of Hanover Street and High Street. Benjamin Rush, a signer of the Declaration of Independence, developed Carlisle Grammar School in 1773 and chartered it as Dickinson College—the first new college founded in the newly recognized United States. One of the college's more famous alumni, the 15th U. S. president, James Buchanan, graduated in 1809. The Dickinson School of Law, founded in 1834 and affiliated with Dickinson College, ranks as the fifth-oldest law school in the United States and the oldest law school in Pennsylvania. A general borough law of 1851 authorized a burgess and a borough council to administer the government of the borough of Carlisle. Leading up to the American Civil War, Carlisle served as a stop on the Underground Railroad.
During the war, an army of the Confederate States of America, under General Fitzhugh Lee, att
The Wall Street Journal
The Wall Street Journal is a U. S. business-focused, English-language international daily newspaper based in New York City. The Journal, along with its Asian and European editions, is published six days a week by Dow Jones & Company, a division of News Corp; the newspaper is published in online. The Journal has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, Charles Bergstresser; the Wall Street Journal is one of the largest newspapers in the United States by circulation, with a circulation of about 2.475 million copies as of June 2018, compared with USA Today's 1.7 million. The Journal publishes the luxury news and lifestyle magazine WSJ, launched as a quarterly but expanded to 12 issues as of 2014. An online version was launched in 1996, accessible only to subscribers since it began; the newspaper is notable for its award-winning news coverage, has won 37 Pulitzer Prizes. The editorial pages of the Journal are conservative in their position. The"Journal" editorial board has promoted fringe views on the science of climate change, acid rain, ozone depletion, as well as on the health harms of second-hand smoke and asbestos.
The first products of Dow Jones & Company, the publisher of the Journal, were brief news bulletins, nicknamed "flimsies", hand-delivered throughout the day to traders at the stock exchange in the early 1880s. They were aggregated in a printed daily summary called the Customers' Afternoon Letter. Reporters Charles Dow, Edward Jones, Charles Bergstresser converted this into The Wall Street Journal, published for the first time on July 8, 1889, began delivery of the Dow Jones News Service via telegraph. In 1896, The "Dow Jones Industrial Average" was launched, it was the first of several indices of bond prices on the New York Stock Exchange. In 1899, the Journal's Review & Outlook column, which still runs today, appeared for the first time written by Charles Dow. Journalist Clarence Barron purchased control of the company for US$130,000 in 1902. Barron and his predecessors were credited with creating an atmosphere of fearless, independent financial reporting—a novelty in the early days of business journalism.
In 1921, Barron's, the United States's premier financial weekly, was founded. Barron died in 1928, a year before Black Tuesday, the stock market crash that affected the Great Depression in the United States. Barron's descendants, the Bancroft family, would continue to control the company until 2007; the Journal took its modern shape and prominence in the 1940s, a time of industrial expansion for the United States and its financial institutions in New York. Bernard Kilgore was named managing editor of the paper in 1941, company CEO in 1945 compiling a 25-year career as the head of the Journal. Kilgore was the architect of the paper's iconic front-page design, with its "What's News" digest, its national distribution strategy, which brought the paper's circulation from 33,000 in 1941 to 1.1 million at the time of Kilgore's death in 1967. Under Kilgore, in 1947, the paper won its first Pulitzer Prize for William Henry Grimes's editorials. In 1967, Dow Jones Newswires began a major expansion outside of the United States that put journalists in every major financial center in Europe, Latin America and Africa.
In 1970, Dow Jones bought the Ottaway newspaper chain, which at the time comprised nine dailies and three Sunday newspapers. The name was changed to "Dow Jones Local Media Group".1971 to 1997 brought about a series of launches and joint ventures, including "Factiva", The Wall Street Journal Asia, The Wall Street Journal Europe, the WSJ.com website, Dow Jones Indexes, MarketWatch, "WSJ Weekend Edition". In 2007, News Corp. acquired Dow Jones. WSJ. A luxury lifestyle magazine, was launched in 2008. A complement to the print newspaper, The Wall Street Journal Online, was launched in 1996 and has allowed access only by subscription from the beginning. In 2003, Dow Jones began to integrate reporting of the Journal's print and online subscribers together in Audit Bureau of Circulations statements. In 2007, it was believed to be the largest paid-subscription news site on the Web, with 980,000 paid subscribers. Since online subscribership has fallen, due in part to rising subscription costs, was reported at 400,000 in March 2010.
In May 2008, an annual subscription to the online edition of The Wall Street Journal cost $119 for those who do not have subscriptions to the print edition. By June 2013, the monthly cost for a subscription to the online edition was $22.99, or $275.88 annually, excluding introductory offers. On November 30, 2004, Oasys Mobile and The Wall Street Journal released an app that would allow users to access content from the Wall Street Journal Online via their mobile phones. Many of The Wall Street Journal news stories are available through free online newspapers that subscribe to the Dow Jones syndicate. Pulitzer Prize–winning stories from 1995 are available free on the Pulitzer web site. In September 2005, the Journal launched a weekend edition, delivered to all subscribers, which marked a return to Saturday publication after a lapse of some 50 years; the move was designed in part to attract more consumer advertising. In 2005, the Journal reported a readership profile of about 60 percent top management, an average income of $191,000, an average household net worth of $2.1 million, an average age of 55.
In 2007, the Journal launched a worldwide expansion of its website to include major foreign-language editions. The p
Boise is the capital and most populous city of the U. S. state of Idaho, is the county seat of Ada County. Located on the Boise River in southwestern Idaho, the population of Boise at the 2010 Census was 205,671, the 99th largest in the United States, its estimated population in 2016 was 223,154. The Boise-Nampa metropolitan area known as the Treasure Valley, includes five counties with a combined population of 709,845, the most populous metropolitan area in Idaho, it contains. Boise is the 80th most populous metropolitan statistical area in the United States. Accounts differ regarding the name's origin. One account credits Capt. B. L. E. Bonneville of the U. S. Army as its source. After trekking for weeks through dry and rough terrain, his exploration party reached an overlook with a view of the Boise River Valley; the place where they stood is called Bonneville Point, located on the Oregon Trail east of the city. According to the story, a French-speaking guide, overwhelmed by the sight of the verdant river, yelled "Les bois!
Les bois!" —and the name stuck. The name may instead derive from earlier mountain men. In the 1820s, French Canadian fur trappers set trap lines in the vicinity. Set in a high-desert area, the tree-lined valley of the Boise River became a distinct landmark, an oasis dominated by cottonwood trees, they called this "La rivière boisée", which means "the wooded river." The area was called Boise long before the establishment of Fort Boise by the federal government. The original Fort Boise was 40 miles west, near Parma, down the Boise River near its confluence with the Snake River at the Oregon border; this private sector defense was erected by the Hudson's Bay Company in the 1830s. It was abandoned in the 1850s, but massacres along the Oregon Trail prompted the U. S. Army to re-establish a fort in the area in 1863 during the U. S. Civil War; the new location was selected because it was near the intersection of the Oregon Trail with a major road connecting the Boise Basin and the Owyhee mining areas, both of which were booming.
During the mid-1860s, Idaho City was the largest city in the Northwest, as a staging area, Fort Boise grew rapidly. The first capital of the Idaho Territory was Lewiston in north central Idaho, which in 1863 was the largest community, exceeding the populations of Olympia and Seattle, Washington Territory and Portland, Oregon combined; the original territory was larger than Texas. But following the creation of Montana Territory, Boise was made the territorial capital of a much reduced Idaho in a controversial decision which overturned a district court ruling by a one-vote majority in the territorial supreme court along geographic lines in 1866. Designed by Alfred B. Mullett, the U. S. Assay Office at 210 Main Street was built in 1871 and today is a National Historic Landmark. Most native and longtime residents use the pronunciation / ˈbɔɪsiː /; the pronunciation is sometimes used as a shibboleth, as outsiders tend to pronounce the city's name as /ˈbɔɪziː/. Boise is in southwestern Idaho, about 41 miles east of the Oregon border, 110 miles north of the Nevada border.
The downtown area's elevation is 2,704 feet above sea level. Most of the metropolitan area lies on a flat plain, descending to the west. Mountains rise to the northeast, stretching from the far southeastern tip of the Boise city limits to nearby Eagle; these mountains are known to locals as the Boise foothills and are sometimes described as the foothills of the Rocky Mountains. About 34 miles southwest of Boise, about 26 miles southwest of Nampa, the Owyhee Mountains lie in neighboring Owyhee County. According to the United States Census Bureau, the city has an area of 80.05 square miles, of which, 79.36 square miles is land and 0.69 square miles is water. The city is drained by the Boise River; the City of Boise is considered part of the Treasure Valley. Boise occupies a large area — 64 sq mi according to the United States Census Bureau. Like all major cities, it has several neighborhoods, including the Bench, the North End, West Boise and Downtown. In January 2014, the Boise Police Department partnered with the folksonomic neighborhood blogging site Nextdoor, the first city in the Northwest and the 137th city in the U.
S. to do so. Since the app, which enables the city's police and parks departments to post to self-selected localized areas, first became available in October 2011, 101 neighborhoods and sections of neighborhoods have joined. Downtown Boise is Boise's cultural home to many small businesses and a few mid-rises. While downtown Boise lacks a major retail/dining focus like Seattle and Portland, the area has a variety of shops and growing option for dining choices. Centrally, 8th Street contains a pedestrian zone with sidewalk restaurants; the neighborhood has many local restaurants and boutiques and supports a vibrant nightlife. The area contains the Basque Block, which gives visitors a chance to learn about and enjoy Boise's Basque heritage. Downtown Boise's main attractions include the Idaho State Capitol, the classic Egyptian Theatre on the corner of Capitol Boulevard and Main Street, the Boise Art Museum on Capitol in front of Julia Davis Park, Zoo Boise on the grounds of Julia Davis Park. Boise's economy was threatened in the late 1990s by commercial development at locations away from the downtown center, such as Boise Towne Square Mall and at shopping centers near new housing developments.
Cultural events in Dow
Las Vegas the City of Las Vegas and known as Vegas, is the 28th-most populated city in the United States, the most populated city in the state of Nevada, the county seat of Clark County. The city anchors the Las Vegas Valley metropolitan area and is the largest city within the greater Mojave Desert. Las Vegas is an internationally renowned major resort city, known for its gambling, fine dining and nightlife; the Las Vegas Valley as a whole serves as the leading financial and cultural center for Nevada. The city bills itself as The Entertainment Capital of the World, is famous for its mega casino–hotels and associated activities, it is a top three destination in the United States for business conventions and a global leader in the hospitality industry, claiming more AAA Five Diamond hotels than any other city in the world. Today, Las Vegas annually ranks as one of the world's most visited tourist destinations; the city's tolerance for numerous forms of adult entertainment earned it the title of Sin City, has made Las Vegas a popular setting for literature, television programs, music videos.
Las Vegas was settled in 1905 and incorporated in 1911. At the close of the 20th century, it was the most populated American city founded within that century. Population growth has accelerated since the 1960s, between 1990 and 2000 the population nearly doubled, increasing by 85.2%. Rapid growth has continued into the 21st century, according to a 2018 estimate, the population is 648,224 with a regional population of 2,227,053; as with most major metropolitan areas, the name of the primary city is used to describe areas beyond official city limits. In the case of Las Vegas, this applies to the areas on and near the Las Vegas Strip, located within the unincorporated communities of Paradise and Winchester; the earliest visitors to the Las Vegas area were nomadic Paleo-Indians, who traveled there 10,000 years ago, leaving behind petroglyphs. Anasazi and Paiute tribes followed at least 2,000 years ago. A young Mexican scout named Rafael Rivera is credited as the first non-Native American to encounter the valley, in 1829.
Trader Antonio Armijo led a 60-man party along the Spanish Trail to Los Angeles, California in 1829. The area was named Las Vegas, Spanish for "the meadows," as it featured abundant wild grasses, as well as the desert spring waters needed by westward travelers; the year 1844 marked the arrival of John C. Frémont, whose writings helped lure pioneers to the area. Downtown Las Vegas's Fremont Street is named after him. Eleven years members of the LDS Church chose Las Vegas as the site to build a fort halfway between Salt Lake City and Los Angeles, where they would travel to gather supplies; the fort was abandoned several years afterward. The remainder of this Old Mormon Fort can still be seen at the intersection of Las Vegas Boulevard and Washington Avenue. Las Vegas was founded as a city in 1905, when 110 acres of land adjacent to the Union Pacific Railroad tracks were auctioned in what would become the downtown area. In 1911, Las Vegas was incorporated as a city. 1931 was a pivotal year for Las Vegas.
At that time, Nevada legalized casino gambling and reduced residency requirements for divorce to six weeks. This year witnessed the beginning of construction on nearby Hoover Dam; the influx of construction workers and their families helped Las Vegas avoid economic calamity during the Great Depression. The construction work was completed in 1935. In 1941, the Las Vegas Army Air Corps Gunnery School was established. Known as Nellis Air Force Base, it is home to the aerobatic team called the Thunderbirds. Following World War II, lavishly decorated hotels, gambling casinos, big-name entertainment became synonymous with Las Vegas. In the 1950s the Moulin Rouge opened and became the first racially integrated casino-hotel in Las Vegas. In 1951, nuclear weapons testing began at the Nevada Test Site, 65 miles northwest of Las Vegas. During this time the city was nicknamed the "Atomic City". Residents and visitors were able to witness the mushroom clouds until 1963, when the limited Test Ban Treaty required that nuclear tests be moved underground.
The iconic "Welcome to Las Vegas" sign, never located within municipal limits, was created in 1959 by Betty Willis. During the 1960s, corporations and business powerhouses such as Howard Hughes were building and buying hotel-casino properties. Gambling was referred to as "gaming"; the year 1995 marked the opening of the Fremont Street Experience in Las Vegas's downtown area. This canopied five-block area features 12.5 million LED lights and 550,000 watts of sound from dusk until midnight during shows held on the top of each hour. Due to the realization of many revitalization efforts, 2012 was dubbed "The Year of Downtown." Hundreds of millions of dollars' worth of projects made their debut at this time. They included The Smith Center for the Performing Arts and DISCOVERY Children's Museum, Mob Museum, Neon Museum, a new City Hall complex and renovations for a new Zappos.com corporate headquarters in the old City Hall building. Las Vegas is situated within Clark County in a basin on the floor of the Mojave Desert and is surrounded by mountain ranges on all sides.
Much of the landscape is arid with desert vegetation and wildlife. It can be subjected to torrential flash floods, although much has been done to mitigate the effects of flash floods through improved drainage systems; the peaks surrounding Las Vegas reach elevations of o
CNBC is an American pay television business news channel, owned by NBCUniversal Broadcast, Cable and News, a division of NBCUniversal, with both being owned by Comcast. Headquartered in Englewood Cliffs, New Jersey, the network carries business day coverage of U. S. and international financial markets. CNBC was established on April 17, 1989 as a joint venture between NBC and Cablevision as the Consumer News and Business Channel. Two years in 1991, the network acquired its main competitor, the Financial News Network, a move which expanded both its distribution and its workforce. Cablevision subsequently sold its stake to NBC; as of February 2015, CNBC is available to 93,623,000 pay television households in the United States. In 2007, the network was ranked as the 19th most valuable cable channel in the United States, worth $4 billion. In addition to the domestic U. S. feed, various localized versions of CNBC operate, serving different regions and countries. NBCUniversal is a minority stakeholder, in many of these versions.
CNBC had its beginnings around 1980 as the Satellite Program Network, showing a low-budget mix of old movies and entertainment programs. The channel changed its name to Tempo Television. After signing a letter of intent to acquire Tempo, NBC opted for a deal to lease the channel's transponder in June 1988. On this platform, under the guidance of Tom Rogers, the channel was relaunched on April 17, 1989 as the Consumer News and Business Channel. NBC and Cablevision operated CNBC as a 50-50 joint venture, choosing to headquarter the channel in Fort Lee, New Jersey. CNBC had considerable difficulty getting cable carriage at first, as many providers were skeptical of placing it alongside the longer-established Financial News Network. By the winter of 1990, CNBC was only in 17 million homes – less than half of FNN's potential reach – despite having the muscle of NBC standing behind it. However, around this time, FNN encountered serious financial difficulties. After a protracted bidding war with a Dow Jones-Westinghouse Broadcasting consortium, CNBC acquired FNN for $154.3 million on May 21, 1991 and merged the two operations, hiring around 60 of FNN's 300-strong workforce.
The deal increased the distribution of the newly enlarged network to over 40 million homes. Cablevision sold its 50% stake to NBC upon completion of the deal. With the full name "Consumer News and Business Channel" dropped, the network's daytime business programming was branded "CNBC/FNN Daytime," although this was phased out by 1992. Roger Ailes was hired as the new president of CNBC in 1993, tasked by NBC CEO Roger Wright with turning around the struggling network. Under Ailes' leadership from 1993 through 1995, the $400 million network doubled in value, its revenues tripled. In addition, Ailes oversaw the launch of a 1994 spin-off channel from CNBC, called "America's Talking." Ailes left CNBC and America's Talking in late 1995 when Microsoft and NBC created a joint venture to reprogram America's Talking as MSNBC. CNBC grew during the 1990s, launching Asian and European versions of the channel in 1995 and 1996 respectively. In 1997, CNBC formed a strategic alliance with Dow Jones, including content sharing with Dow Jones Newswires and The Wall Street Journal and the rebranding of the channel as "a service of NBC Universal and Dow Jones".
CNBC's international channels were merged into a 50-50 joint venture with their Dow Jones-owned rivals, London-based EBN and Singapore-based ABN in 1998, while ratings grew on the U. S. channel until the new millennium's dot-com bubble burst in 2000. The new millennium brought changes to the network in 2003, moving its world headquarters from 2200 Fletcher Avenue, Fort Lee to 900 Sylvan Avenue in Englewood Cliffs, New Jersey, which features digital video production and studios made by PDG Ltd of Beeston and the FX Group of Ocoee, Florida. NBC Universal reacquired full control of loss-making CNBC Europe and CNBC Asia from Dow Jones at the end of 2005; the licensing agreement between Dow and CNBC U. S. remained intact, however. Today, CNBC provides business news programming on weekdays from 4:00 a.m. to 7:00 p.m. Eastern Time, while broadcasting talk shows, investigative reports, documentaries and other programs at all other times. A rolling ticker provides real-time updates on share prices on the NYSE, NASDAQ, AMEX, as well as market indices, news summaries, weather updates by NBC meteorologists.
A rotating top band of the screen rotates provides real-time updates on index and commodity prices from world markets. On October 13, 2014 - coincidentally the 11th anniversary of CNBC's relocation to its current facilities in Englewood Cliffs, NJ - CNBC switched to a full 16:9 letterbox presentation, in line with its Asian and European siblings; as of January 4, 2016, the network's 480i standard definition feed now shows the same 16:9 HD feed on its 4:3 picture, due to the application of the AFD #10 flag. CNBC provides a variety of programs throughout the business day. Live programming is broadcast on weekdays from 4 am until 7 pm and provides reports on U. S. businesses, updates of stock market indices and commodities prices, interviews with CEOs and business leaders