In professional boxing, the undisputed champion of a weight class is a boxer, recognized as the world champion at that class by each boxing organization, there are no declared necessary conditions needed to become an undisputed champion, as the major boxing organizations refer to all boxers holding at least two world titles in their respective division as "unified champions". Prior to the 1960s, most champions were "undisputed", although the term was used. Early boxing champions at various weight divisions were established by acclamation between 1880 and 1920. Once a consensus champion had been awarded the title, the championship could be taken only by beating the reigning holder, establishing a lineal championship; the New York State Athletic Commission recognized champions from its foundation in 1920. The National Boxing Association was founded by other U. S. state bodies in 1921, began recognising champions in 1927. Until the 1960s, both recognised the same lineal champion. However, disputes could arise if the champion moved to a different weight class.
The International Boxing Union recognised a different champion. The disputes were short-lived as a lucrative fight would be organised between the rival champions; the longest split was ten years, of the middleweight title, between Mickey Walker's move up to heavyweight in 1931 and NBA champion Tony Zale's defeat of NYSAC contender Georgie Abrams in 1941. An early use of "undisputed" appears in a New York Times preview of the 1941 fight; the growing popularity of boxing outside of the USA led to creation of various boxing organizations, each strengthening their influence and having their own champion. This resulted in a growing number of boxers claiming to be legitimate champions; the disruption in boxing was solved after the World War II when the World Championship Committee was created with NBA as its unanimous authority. The committee, was disbanded in 1955 when NBA, along with its new members left WCC citing lack of control over the organisation; the NBA's voting scheme guaranteed one vote for each state commission as well as one vote for each foreign country.
On August 23, 1962, the NBA became the World Boxing Association and moved their headquarters to Panama City, Panama. A year NYSAC along with European Boxing Union and BBBofC supported creation of the World Boxing Council. WBC was established on February 14, 1963, in Mexico City, Mexico by 11 countries that were invited by the President of Mexico Adolfo López Mateos to form an international organization to unify all commissions of the world to control the expansion of boxing; the reason for the move were concerns about WBA's alleged lack of desire to support professional boxing outside of the USA. In April 1983, members of United States Boxing Association along with Robert W. Lee voted to expand the organisation and form the USBA-International; the organization changed the name to International Boxing Federation. The inaugural IBF Heavyweight Champion was Larry Holmes, who relinquished the WBC title to accept IBF's recognition, thus helping the newly formed organization to establish its legitimacy.
The fragmentation of titles was thus increased. After some negotiations, the heavyweight title was unified in the heavyweight unification series, a series of coordinated bouts in 1986 and 1987, with Mike Tyson emerging as the first undisputed champion since Leon Spinks in 1978; the title was split again in 1992. Another major sanctioning body, the World Boxing Organisation, was established in 1988 in San Juan, Puerto Rico by a group of local businessmen. At the beginnings, when most of the challengers for WBA, WBC and IBF titles were Americans, WBO had a wider variety of countries European, represented in title bouts. Before the Klitschko Era, United Kingdom tied USA for most wins in WBO Heavyweight title fights with 8. By 2001, the WBA was giving the same recognition to WBO champions as to WBC and IBF champions. In 2004, the WBC began naming WBO champions on its ranking listings; the IBF did not recognise the WBO in May 2006, but was doing so by February 2007. Conversely, the WBO explicitly recognises the other three sanctioning bodies.
Some sources consider the WBO title necessary for an undisputed champion. Others continue to consider it sufficient to hold the WBA, WBC, IBF titles. Other bodies such as the IBO, IBU, World Boxing Foundation are disregarded. If a fighter wins all the titles but is stripped by one organization of its title, he may continue to be considered the undisputed champion. Roy Jones Jr. was spuriously promoted as the undisputed light heavyweight champion by HBO after unifying the WBA, WBC and IBF titles in June 1999, for which he was awarded The Ring championship title in 2002. However, two of those belts had been stripped from Dariusz Michalczewski, who had unified them with his WBO title by beating the Lineal champion Virgil Hill in June 1997, subsequently remained unbeaten, defending his remaining belt until 2004. Speaking of Jones' claim to being undisputed champion, one writer opined that the distinction "could just as belong to current WBO titlist Dariusz Michalczewski."Five months after Lennox Lewis unified the WBC, IBF and WBA belts to become the undisputed heavyweight champion, a U.
Under the Whyte notation for the classification of steam locomotives, 2-8-0 represents the wheel arrangement of two leading wheels on one axle in a leading truck, eight powered and coupled driving wheels on four axles and no trailing wheels. In the United States and elsewhere, this wheel arrangement is known as a Consolidation, after the Lehigh and Mahanoy Railroad’s Consolidation, the name of the first 2-8-0. Of all the locomotive types that were created and experimented with in the 19th century, the 2-8-0 was a relative latecomer; the first locomotive of this wheel arrangement was built by the Pennsylvania Railroad. Like the first 2-6-0s, this first 2-8-0 had a leading axle, rigidly attached to the locomotive's frame, rather than on a separate truck or bogie. To create this 2-8-0, PRR master mechanic John P. Laird modified an existing 0-8-0, the Bedford, between 1864 and 1865; the 2-6-0 Mogul type, first created in the early 1860s, is considered as the logical forerunner to the 2-8-0. However, a claim is made that the first true 2-8-0 engine evolved from the 0-8-0 and was ordered by the United States' Lehigh and Mahanoy Railroad, which named all its engines.
The name given to the new locomotive was Consolidation, the name, almost globally adopted for the type. According to this viewpoint, the first 2-8-0 order by Lehigh dates to 1866 and antedates the adoption of the type by other railways and coal and mountain freight haulers. From its introduction in 1866 and well into the early 20th century, the 2-8-0 design was considered to be the ultimate heavy-freight locomotive; the 2-8-0's forte was starting and moving "impressive loads at unimpressive speeds" and its versatility gave the type its longevity. The practical limit of the design was reached in 1915, when it was realised that no further development was possible with a locomotive of this wheel arrangement; as in the United States, the 2-8-0 was a popular type in Europe, again as a freight hauler. The type was used in Australia, New Zealand, Southern Africa; the 2-8-0 locomotive was used extensively throughout Australia. It served on the 5 ft 3 in broad gauge, 4 ft 8 1⁄2 in standard gauge and 3 ft 6 in narrow gauge and was employed as a freight locomotive, although it was also employed in passenger service in Victoria.
The first Australian locomotive class with this wheel arrangement consisted of 20 standard-gauge New South Wales Government Railways J Class engines, which arrived from Baldwin Locomotive Works in 1891. The Js remained in service in New South Wales until 1915. Wartime shortages between 1916 and 1920 had six engines re-entering service after being shopped and fitted with superheaters; the last engine of this class was withdrawn in 1934 and all were scrapped by 1937. The second batch of 2-8-0 locomotives to appear in Australia, between 1896 and 1916, was the NSWGR T class engines; the class was delivered from one local and several overseas builders, 151 locomotives from Beyer and Company, 84 from North British Locomotive Company, 10 from Neilson and Company, 30 from Clyde Engineering in Australia, five from Dübs and Company. During World War II, 14 of these locomotives were equipped with superheaters, which raised their tractive effort from 28,777 lbf to 33,557 lbf. From 1899, the Victorian Railways used a range of broad-gauge 2-8-0 locomotives.
The first of these locomotives were the Baldwin-built Victorian Railways V class. These engines were built at Phoenix Foundry in Victoria. By 1930, they had disappeared from the VR; the VR's next type was the 26 C class engines, which saw passenger service. In 1922, a smaller and lighter 2-8-0, the K class, was introduced for branchline freight and also passenger services; the VR introduced sixty light 2-8-0 J class engines in 1954. These worked both freight and passenger services; the first 2-8-0 engines in private service on the Midland Railway of Western Australia arrived in 1912. These were 3 ft 6 in gauge locomotives; the five in the class operated until 1958. All were gone by 1963. In 1912, some of the NSWGR T class types were purchased by the private East Greta Railway to become the South Maitland Railway, but these were converted to 2-8-2 tank locomotives; the class proved to be successful throughout its long service life, until being retired from government revenue service in 1973. During 1916, several of these same T class engines were purchased from NBL by the Commonwealth Railways for the Trans-Australian Railway.
In 1924, a private coal company, J&A Brown in NSW, obtained three ex-British military Railway Operating Division ROD 2-8-0 locomotives. Brown ordered another 10 of these locomotives, but only nine of that order arrived in Australia; the last was withdrawn in 1973. To compensate for wartime losses, Belgian railways acquired 300 2-8-0 locomotives in 1946, they were built in North America, 160 by Montreal Locomotive Works in Canada, 60 by the Canadian Locomotive Company, 80 by the American Locomotive Company in the United States. These machines proved to be reliable and were used for mixed traffic until the end of the steam era, when number 29.013 hauled the last scheduled steam passenger train from Ath to Denderleeuw on 20 December 1966. This locomotive is used on special excursions. On 16 December 2006, number 29.013 re-enacted the last 1966 run on the same route. The Canadian Pacific Railway N-2-a, b, c class locomotives were a class of altogether 182 Consolidation type locomotives, built by Montreal Locomotive Works between 1912 and 1914.
They were numbered in the range from 3600 to 3799 and were used everywhere around the sy
Land consolidation is a planned readjustment and rearrangement of fragmented land parcels and their ownership. It is applied to form larger and more rational land holdings. Land consolidation can be used to improve rural infrastructure and to implement developmental and environmental policies. Land consolidation has existed in Europe for many centuries. In France, the first modern land consolidation took place in Rouvres-en-Plaine in 1707; the practice of private land consolidation began to be visible in the Paris Basin during the nineteenth century. Subsequently, it was done with the support of the public authorities. A law of 16 June 1824 authorized the exchange of land between individuals in order to fight against the fragmentation of agricultural parcels and to improve productivity; the concept spread more in Europe and the USA in the early 20th century. In the Netherlands the first land consolidation was in 1916 when 3659 plots were reduced to 500. In 1919, however, a further attempt to reduce fragmentation broke down against the opposition of one of the owners.
This led to the Land Consolidation Act in 1924 which permitted land consolidation to continue without the cooperation of a small number of the owners. In Spain legal provision on land consolidation was not promulgated until December 20, 1952, but it was enthusiastically received by farmers. In Germany legislation was passed in the 1950s as part of an overhaul of German agriculture. Land consolidation, known as Flurbereinigung, made possible landscapes being reshaped, for example with respect to construction of access roads; the process benefitted the wine industry. Following the collapse of communism in the former Soviet Union and Eastern bloc countries of Europe in 1991, state farms were divided into fragmented parcels. Land was returned to former owners who, by this time, were elderly, or given in joint ownership to heirs of an original owner; this resulted in a large number of absentee landowners residing in urban areas. In other cases, decollectivization resulted in households receiving several fragmented parcels of different qualities of arable land.
Thus the need for consolidation was recognised. More there have been attempts to promote land consolidation in developing countries. Approaches used include increasing the average size of farms into viable commercial units through sale or lease. China has been active in promoting consolidation, which involves issuance of land certificates that confirm a person’s entitlement to land, thus permitting sale and lease of land rights. To facilitate the process, land transfer service centers have been set up by local governments to collect information on, looking to lease out. In many countries individual smallholders’ land is distributed among many small fragments; this increases production costs by requiring time for farmers to move between fragments and makes use of machinery impossible. A response to this is to restructure land holdings while ensuring that farmers retain the same amount of land. In Uttar Pradesh in India a government program led to field boundaries being straightened and land areas as much as possible being reshaped in rectangular form.
This improved ease of cultivation plowing, lessened disputes due to unclear border demarcations and encroachments. In the Dinh Hoa commune of Vietnam, land consolidation has been carried out in order to reduce the number of plots owned by individual farm households, thereby increasing the average size of a plot without changing the total farmland area of each household; this is done with the involvement of the smallholders. The move has resulted in reduced labour costs and increased mechanization, has permitted some restructuring of irrigation systems. Successful consolidation has to overcome competing interests of the farmers. There may be objections regarding the initial inventory of ownership, the boundaries between land, the value attached to different parcels. Consolidation cannot involve re-allocating land while ensuring that everyone gets the same amount, as the quality of the land re-allocated has to be taken into account and an owner should not be worse off after consolidation than before.
Consolidation programs should aim at ensuring that an owner’s holding after consolidation is equal in value to the original holding. However, soil quality is not the only factor in valuation as the value of a parcel can be affected by its position relative to roads, water supply, farm buildings and farmers’ homes, as well as the value of trees or vines planted on the land. Mediation arrangements to resolve these problems are essential, it is important to include respected farmers in the land valuation teams together with valuation experts. Enclosure Flurbereinigung Sustainable agriculture Sustainable living Chak Bandi van Dijk, T. "Complications for traditional land consolidation in Central Europe". Geoforum. 38: 505–11. Doi:10.1016/j.geoforum.2006.11.010. Curtis, Daniel R. "The impact of land accumulation and consolidation on population trends in the pre-industrial period: two contrasting cases in the Low Countries". Historical Research. 2013-4
A travel agency is a private retailer or public service that provides travel and tourism related services to the public on behalf of suppliers such as activities, car rentals, cruise lines, railways, travel insurance, package tours. In addition to dealing with ordinary tourists, most travel agencies have a separate department devoted to making travel arrangements for business travelers. There are travel agencies that serve as general sales agents for foreign travel companies, allowing them to have offices in countries other than where their headquarters are located; the modern travel agency first appeared in the second half of the 19th century with its root in 1758 as establishment of Cox & Kings Ltd. In the year 1970, Cox & Kings the longest established travel company centered its focus on its business of travel and tourism. Thomas Cook established a chain of agencies in the last quarter of the 19th century, in association with the Midland Railway, they not only in addition, represented other tour companies.
Other British pioneer travel agencies were Dean & Dawson, the Polytechnic Touring Association, the Co-operative Wholesale Society. The oldest travel agency in the United States is Brownell Travel. Travel agencies became more commonplace with the development of commercial aviation, starting in the 1920s. Travel agencies catered to middle and upper class customers, but the post-war boom in mass-market package holidays resulted in the proliferation of travel agencies on the main streets of most British towns, catering to a working class clientele looking for a convenient way to book overseas beach holidays. A travel agency's main function is to act as an agent, selling travel products and services on behalf of a supplier. Unlike other retail businesses, they do not keep a stock in hand, unless they have pre-booked hotel rooms and/or cabins on a cruise ship for a group travel event such as a wedding, honeymoon, or a group event. A package holiday or a ticket is not purchased from a supplier unless a customer requests that purchase.
The holiday or ticket is supplied to the agency at a discount. The profit is therefore the difference between the advertised price which the customer pays and the discounted price at which it is supplied to the agent; this is known as the commission. In many countries, all individuals or companies that sell tickets are required to be licensed as a travel agent. In some countries, airlines have stopped giving commissions to travel agencies. Therefore, travel agencies are now forced to charge a percentage premium or a standard flat fee, per sale. However, some companies pay travel agencies a set percentage for selling their product. Major tour companies can afford to do this, because if they were to sell a thousand trips at a cheaper rate, they would still come out better than if they sold a hundred trips at a higher rate; this process benefits both parties. It is cheaper to offer commissions to travel agents rather than engage in advertising and distribution campaigns without using agents. Other commercial operations are undertaken by the larger chains.
These can include the sale of in-house insurance, travel guide books, public transport timetables, car rentals, the services of an on-site bureau de change, dealing in the most popular holiday currencies. A travel agent is supposed to offer impartial travel advice to the customer, as well as coordinating travel details and assisting the customer in booking travel. However, this function disappeared with the mass market package holiday, some agency chains seemed to develop a "holiday supermarket" concept, in which customers choose their holiday from brochures on racks and book it from a counter. Again, a variety of social and economic changes have now contrived to bring this aspect to the fore once more with the advent of multiple, no-frills, low-cost airlines. Traditionally, travel agencies' principal source of income was, continues to be, commissions paid for bookings of car rentals, cruise lines, railways, sightseeing tours, tour operators, etc. A fixed percentage of the main element of the price is paid to the agent as a commission.
Commissions may vary depending on the type of the supplier. Commissions are not paid on the tax component of the price. Travel agencies receive a large variety of bonuses and other incentives from travel and tourism related companies as inducements for travel agents to promote their products; the customer is not made aware of how much the travel agent is earning in commissions and other benefits. Other sources of income may include the sale of insurance, travel guide books, public transport timetables and money exchange. Since 1995, many airlines around the world and most airlines in the United States now do not pay any commission to travel agencies. In this case, an agency adds a service fee to the net price. Reduced commissions started in 1995 in the United States, with the introduction of a cap of $50 on return trips and $25 on one way. In 1999, European airlines began eliminating or reducing commissions, while Singapore Airlines did so in parts of Asia. In 2002, Delta Air Lines announced a zero-commission base for the U.
S. and Canada. The majority of travel agents have felt the need to protect themselves and their clients against the possibilities of commercial failure, either their own or a supplier's, they will
Ultrasonic Consolidation or Ultrasonic Additive Manufacturing is a low temperature additive manufacturing or 3D printing technique for metals. The process works by scrubbing metal foils together with ultrasonic vibrations under pressure in a continuous fashion, i.e. sheet lamination classification in additive manufacturing. Melting is not the formation mechanism. Instead, metals are joined in the solid-state via disruption of surface oxide films between the metals, i.e. ultrasonic metal welding mechanisms. CNC contour milling is used interchangeably with the additive stage of the process to introduce internal features and add detail to the metal part. UAM has the ability to join multiple metal types together, i.e. dissimilar metal joining, with no or minimal intermettalic formation and allows the embedment of temperature sensitive materials at low temperature—typically less than 50% of the metal matrix melting temperature. The Ultrasonic Consolidation or Ultrasonic Additive Manufacturing process was invented and patented by Dawn White.
In 1999, White founded Solidica Inc. to sell commercial UAM equipment—Form-ation machine suite. Near 2007, the Edison Welding Institute and Solidica began a collaboration to re-design the weld tooling to remedy bond quality limitations and to expand the weldable metals of the process—so called high power UAM. In 2011, Fabrisonic LLC was formed to commercialize the improved UAM process—SonicLayer machine suite; as with most other additive manufacturing processes UC creates objects directly from a CAD model of the required object. The file is "sliced" into layers which results in the production of a. STL file that can be used by the UC machine to build layer by layer; the general manufacturing process is: A base plate is placed onto the machine anvil and fixed into place. Metal foil is drawn under the sonotrode, which applies pressure through a normal force and the ultrasonic oscillations, bonded to the plate; this process is repeated until the required area has been covered in ultrasonically consolidated material.
A CNC mill is used to trim the excess foil from the component and achieve the required geometry. The deposit and trim cycle is repeated. At this height a smaller finishing mill is used to create the required tolerance and surface finish of the part; the deposit and finish cycle continues until the finished object has been manufactured.
In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements; the taxation term of consolidation refers to the treatment of a group of companies and other entities as one entity for tax purposes. Under the Halsbury's Laws of England,'amalgamation' is defined as "a blending together of two or more undertakings into one undertaking, the shareholders of each blending company, becoming the shareholders of the blended undertakings. There may be amalgamations, either by transfer of two or more undertakings to a new company, or to the transfer of one or more companies to an existing company". Consolidation is the practice, in business, of combining two or more organizations into a single new one. Upon consolidation, the original organizations are supplanted by a new entity. Access to new technologies/ techniques Access to new clients Access to new geographies Cheaper financing for a bigger company Seeking for hidden or nonperforming assets belonging to a target company Bigger companies tend to have superior bargaining power over their suppliers and clients Synergies There are three forms of business combinations: Statutory Merger: a business combination that results in the liquidation of the acquired company’s assets and the survival of the purchasing company.
Statutory Consolidation: a business combination that creates a new company in which none of the previous companies survive. Stock Acquisition: a business combination in which the purchasing company acquires the majority, more than 50%, of the Common stock of the acquired company and both companies survive. Variable interest entity Parent-subsidiary relationship: the result of a stock acquisition where the parent is the acquiring company and the subsidiary is the acquired company. Controlling Interest: When the parent company owns a majority of the common stock. Non-Controlling Interest or Minority Interest: the rest of the common stock that the other shareholders own. Wholly owned subsidiary: when the parent owns all the outstanding common stock of the subsidiary. In an amalgamation, the companies which merge into a new or existing company are referred to as transferor companies or amalgamating companies; the resultant company is referred to as the transferee company. A parent company can acquire another company by purchasing its net assets or by purchasing a majority share of its common stock.
Regardless of the method of acquisition. Costs of issuing securities: these costs reduce the issuing price of the stock. Treatment to the acquiring company: When purchasing the net assets the acquiring company records in its books the receipt of the net assets and the disbursement of cash, the creation of a liability or the issuance of stock as a form of payment for the transfer. Treatment to the acquired company: The acquired company records in its books the elimination of its net assets and the receipt of cash, receivables or investment in the acquiring company. If the acquired company is liquidated the company needs an additional entry to distribute the remaining assets to its shareholders. Treatment to the purchasing company: When the purchasing company acquires the subsidiary through the purchase of its common stock, it records in its books the investment in the acquired company and the disbursement of the payment for the stock acquired. Treatment to the acquired company: The acquired company records in its books the receipt of the payment from the acquiring company and the issuance of stock.
FASB 141 Disclosure Requirements: FASB 141 requires disclosures in the notes of the financial statements when business combinations occur. Such disclosures are: The name and description of the acquired entity and the percentage of the voting equity interest acquired; the primary reasons for acquisition and descriptions of factors that contributed to recognition of goodwill. The period for which results of operations of acquired entity are included in the income statement of the combining entity; the cost of the acquired entity and if it applies the number of shares of equity interest issued, the value assigned to those interests and the basis for determining that value. Any contingent payments, options or commitments; the purchase and development assets written off. Treatment of goodwill impairments: If Non-Controlling Interest based on fair value of identifiable assets: impairment taken against parent's income & R/E If NCI based on fair value of purchase price: impairment taken against subsidiary's income & R/E When a company purchases 20% or less of the outstanding common stock, the purchasing company’s influence over the acquired company is not significant..
The purchasing company uses the cost method to account for this type of investment. Under the cost method, the investment is recorded at cost at the time of purchase; the company does not need any entries to adjust this account balance unless the investment is considered impaired or there are liquidating dividends, both of which reduce the investment account. Liquidating dividends: Liquidating dividends occur when there is an excess of dividends declared over earnings of the acquired company since the date of acquisition. Regular dividends are recorded as dividend income whenever they
Likud the Likud-National Liberal Movement, is a centre-right to right-wing political party in Israel. A secular party, it was founded in 1973 by Menachem Begin and Ariel Sharon in an alliance with several right-wing parties. Likud's landslide victory in the 1977 elections was a major turning point in the country's political history, marking the first time the left had lost power. In addition, it was the first time in Israel. However, after ruling the country for most of the 1980s, the party lost the Knesset election in 1992. Likud's candidate Benjamin Netanyahu did win the vote for Prime Minister in 1996 and was given the task of forming a government after the 1996 elections. Netanyahu's government fell apart after a vote of no confidence, which led to elections being called in 1999 and Likud losing power to the One Israel coalition led by Ehud Barak. In 2001, Likud's Ariel Sharon, who replaced Netanyahu following the 1999 election, defeated Barak in an election called by the Prime Minister following his resignation.
After the party recorded a convincing win in the 2003 elections, Likud saw a major split in 2005 when Sharon left to form the Kadima party. This resulted in Likud slumping to fourth place in the 2006 elections and losing 28 seats in the Knesset. Following the 2009 elections, Likud was able to gain 15 seats, with Netanyahu back in control of the party, formed a coalition with fellow right-wing parties Yisrael Beiteinu and Shas to take control of the government from Kadima, which earned a plurality, but not a majority. Netanyahu has been Prime Minister since and Likud has been the leading vote-getter in each election. A member of the party is called a Likudnik; the Likud was formed as a secular party by an alliance of several right-wing parties prior to the 1973 elections—Herut, the Liberal Party, the Free Centre, the National List, the Movement for Greater Israel. Herut had been the nation's largest right-wing party since growing out of the Irgun in 1948, it had been in coalition with the Liberals since 1965 as Gahal, with Herut as the senior partner.
Herut remained the senior partner in the new grouping, given the name Likud, meaning "Consolidation", as it represented the consolidation of the Israeli right. It worked as a coalition under Herut's leadership until 1988, when the member parties merged into a single party under the Likud name. From its establishment in 1973, Likud enjoyed great support from blue-collar Sephardim who felt discriminated against by the ruling Alignment. Likud made a strong showing in its first elections in 1973, reducing the Alignment's lead to 12 seats; the party went on finishing 11 seats ahead of the Alignment. Begin was able to form a government with the support of the religious parties, consigning the left-wing to opposition for the first time since independence. A former leader of the hard-line paramilitary Irgun, Begin helped initiate the peace process with Egypt, which resulted in the 1978 Camp David Accords and the 1979 Egypt–Israel Peace Treaty. Likud was reelected with a reduced mandate in 1981. Likud has long been a loose alliance between politicians committed to different and sometimes opposing policy preferences and ideologies.
The 1981 elections highlighted divisions that existed between the populist wing of Likud, headed by David Levy of Herut, the Liberal wing, who represented a policy agenda of the secular bourgeoisie. Begin resigned in October 1983 and was succeeded as Likud leader and Prime Minister by Yitzhak Shamir. Shamir, a former commander of the Lehi underground, was seen as a hard-liner with an ideological commitment both to the settlements in the West Bank and Gaza Strip, the growth of which he encouraged, to the idea of aliyah, facilitating the mass immigration of Jews to Israel from Ethiopia and the former Soviet Union. Although Shamir lost the 1984 election, the Alignment was unable to form a government on its own. Likud and the Alignment thus formed a national unity government, with Peres as Prime Minister and Shamir as foreign minister. After two years and Shamir switched posts; this government remained in power through 1990, when the Alignment pulled out and Shamir stitched together a right-wing coalition that held on until its defeat in 1992 by Labor.
Shamir retired shortly after losing the election. His successor, Benjamin Netanyahu, became the third Likud Prime Minister in May 1996, following the assassination of Yitzhak Rabin. Netanyahu proved to be less hard-line in practice than he made himself out to be rhetorically, felt pressured by the United States and others to enter negotiations with the Palestine Liberation Organization and Yasser Arafat, despite his harsh criticism of the Oslo accords and hawkish stance in comparison to Labor. In 1998, Netanyahu reluctantly agreed to cede territory in the Wye River Memorandum. While accepted by many in the Likud, some Likud MKs, led by Benny Begin, Michael Kleiner and David Re'em, broke away and formed a new party, named Herut – The National Movement, in protest. Yitzhak Shamir, gave the new party his support. Less than a year afterward, Netanyahu's coalition collapsed, resulting in the 1999 election and Labor's Ehud Barak winning the premiership on a platform of immediate settlement of final status issues.
Likud spent 1999-2001 on the opposition benches. Barak's "all-or-nothing" strategy failed and early elections for Prime Minister were called for March 2001. Netanyahu declined to be the Likud candidate for Prime Minister, meaning that the fourth Likud premier would be Ariel Sharon. Sharon, unl