Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase; the debt may be owed by local government, company, or an individual. Commercial debt is subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds and mortgages are all types of debt; the term can be used metaphorically to cover moral obligations and other interactions not based on economic value. For example, in Western cultures, a person, helped by a second person is sometimes said to owe a "debt of gratitude" to the second person; the English term "debt" was first used in the late 13th century. The term "debt" comes from "dette, from Old French dete, from Latin debitum "thing owed," neuter past participle of debere "to owe," "keep something away from someone," from de- "away" + habere "to have". Restored spelling after c.
1400. The related term "debtor" was first used in English in the early 13th century; the -b- was restored in French, in English c. 1560-c. 1660." In the King James Bible, only one spelling, "debtor", is used. The word "debtor" appears "debtors" appears five times in the KJV Bible. There are three main ways repayment may be structured: the entire principal balance may be due at the maturity of the loan. Amortization structures are common in mortgages and credit cards. Debtors of every type default on their debt from time to time, with various consequences depending on the terms of the debt and the law governing default in the relevant jurisdiction. If the debt was secured by specific collateral, such as a car or home, the creditor may seek to repossess the collateral. In more serious circumstances and companies may go into bankruptcy. Common types of debt owed by individuals and households include mortgage loans, car loans, credit card debt, income taxes. For individuals, debt is a means of using anticipated income and future purchasing power in the present before it has been earned.
People in industrialized nations use consumer debt to purchase houses and other things too expensive to buy with cash on hand. People are more to spend more and get into debt when they use credit cards vs. cash for buying products and services. This is because of the transparency effect and consumer's "pain of paying." The transparency effect refers to the fact that the further you are from cash, the less transparent it is and the less you remember how much you spent. The less transparent or further away from cash, the form of payment employed is, the less an individual feels the “pain of paying” and thus is to spend more. Furthermore, the differing physical appearance/form that credit cards have from cash may cause them to be viewed as “monopoly” money vs. real money, luring individuals to spend more money than they would if they only had cash available. Besides these more formal debts, private individuals lend informally to other people relatives or friends. One reason for such informal debts is that many people, in particular those who are poor, have no access to affordable credit.
Such debts can cause problems when they are not paid back according to expectations of the lending household. In 2011, 8 percent of people in the European Union reported their households has been in arrears, that is, unable to pay as scheduled "payments related to informal loans from friends or relatives not living in your household". A company may use various kinds of debt to finance its operations as a part of its overall corporate finance strategy. A term loan is the simplest form of corporate debt, it consists of an agreement to lend a fixed amount of money, called the principal sum or principal, for a fixed period of time, with this amount to be repaid by a certain date. In commercial loans interest, calculated as a percentage of the principal sum per year, will have to be paid by that date, or may be paid periodically in the interval, such as annually or monthly; such loans are colloquially called "bullet loans" if there is only a single payment at the end – the "bullet" – without a "stream" of interest payments during the life of the loan.
A revenue-based financing loan comes with a fixed repayment target, reached over a period of several years. This type of loan comes with a repayment amount of 1.5 to 2.5 times the principle loan. Repayment periods are flexible. In addition, business owners do not sell equity or relinquish control when using revenue-based financing. Lenders that provide revenue-based financing work more with businesses than bank lenders, but take a more hands-off approach than private equity investors. A syndicated loan is a loan, granted to companies that wish to borrow more money than any single lender is prepared to risk in a single loan. A syndicated loan is provided by a group of lenders and is structured and administered by one or several commercial banks or investment banks known as arrangers. Loan syndication is a ris
Benzophenone is the organic compound with the formula 2CO abbreviated Ph2CO. It is a white solid, soluble in organic solvents. Benzophenone is a used building block in organic chemistry, being the parent diarylketone. Benzophenone can be used as a photo initiator in UV-curing applications such as inks and clear coatings in the printing industry. Benzophenone prevents ultraviolet light from damaging scents and colors in products such as perfumes and soaps. Benzophenone can be added to plastic packaging as a UV blocker to prevent photo-degradation of the packaging polymers or its contents, its use allows manufacturers to package the product in clear plastic. Without it, opaque or dark packaging would be required. In biological applications, benzophenones have been used extensively as photophysical probes to identify and map peptide–protein interactions. Benzophenone is used as an additive in flavorings or perfumes for "sweet-woody-geranium-like notes." Benzophenone is produced by the copper-catalyzed oxidation of diphenylmethane with air.
A laboratory route involves the reaction of benzene with carbon tetrachloride followed by hydrolysis of the resulting diphenyldichloromethane. It can be prepared by Friedel-Crafts acylation of benzene with benzoyl chloride in the presence of a Lewis acid catalyst. Another route of synthesis is through a palladium/oxometalate catalyst; this converts an alcohol to a ketone with two groups on each side. Another, less well-known reaction to produce benzophenone is the pyrolysis of anhydrous calcium benzoate. Benzophenone is a common photosensitizer in photochemistry, it crosses from the S1 state into the triplet state with nearly 100% yield. The resulting diradical will abstract a hydrogen atom from a suitable hydrogen donor to form a ketyl radical. Alkali metals reduce benzophenone to the blue colored radical anion, diphenylketyl: M + Ph2CO → M+Ph2CO•−Generally sodium is used as the alkali metal. Although inferior in terms of safety and effectiveness relative to molecular sieves, this ketyl is used in the purification of organic solvents ethers, because it reacts with water and oxygen to give non-volatile products.
The ketyl is soluble in the organic solvent being dried, so it accelerates the reaction of the sodium with water and oxygen. In comparison, sodium is insoluble, its heterogeneous reaction is much slower; when excess alkali metal is present a second reduction may occur, resulting in a color transformation from deep blue to purple: M + M+Ph2CO•− → 22− There are over 300 natural benzophenones, with great structural diversity and biological activities. They are being investigated as potential sources of new drugs. Substituted benzophenones such as oxybenzone and dioxybenzone are used in many sunscreens; the use of benzophenone-derivatives which structurally resemble a strong photosensitizer has been criticized. Michler's ketone has dimethylamino substituents at each para position; the high-strength polymer PEEK is prepared from derivatives of benzophenone. It is considered as "essentially nontoxic." Benzophenone is however banned as a food additive by the US Food and Drug Administration, despite the FDA's continuing stance that this chemical does not pose a risk to public health under the conditions of its intended use.
Benzophenone derivatives are known to be pharmacologically active. From a molecular chemistry point of view interaction of benzophenone with B-DNA has been demonstrated experimentally; the interaction with DNA and the successive photo-induced energy transfer is at the base of the benzophenone activity as a DNA photosensitizers and may explain part of its therapeutic potentialities. In 2014, benzophenones were named Contact Allergen of the Year by the American Contact Dermatitis Society. Benzophenone is an endocrine disruptor capable of binding to the pregnane X receptor
H. Martin "Marty" Haag, Jr. was the news director at the perennially dominant ABC station, WFAA-TV, in Dallas, Texas from 1973 to 1989. During those 16 years, WFAA won five DuPont-Columbia Awards, more than any other local television news station during that time, a George Foster Peabody Award in 1988. Haag earned his bachelor's degree from the University of Missouri in Columbia, Missouri after attending Texas Christian University for one year, his college roommate at TCU was Jim Lehrer. He earned a Master's degree in Journalism from Columbia University. Haag began his journalism career in print as an education reporter and editor for The Dallas Morning News during the late 1950s, he moved to radio as news director at WBAP in Dallas before finding his true niche in television. Haag served first as national assignment editor and overnight manager at NBC News worked as an assistant news director at CBS News in New York City before joining a ratings-impaired WFAA in 1973, becoming their executive news director.
Over the next decades, Marty Haag and WFAA reached national prominence, most notably from their coverage of the Delta Air Lines Flight 191 crash at Dallas-Fort Worth Airport in 1985. CNN carried WFAA's live feed for the entire day. Under Haag's guidance at WFAA, many of the station's reporters went on to join the major news networks, they include Scott Pelley, Paula Zahn, Verne Lundquist, Bill Macatee, Andrea Joyce, Peter Van Sant, Russ Mitchell, Leeza Gibbons, Bill O'Reilly. In 1989, Haag moved to WFAA's parent company, Belo, to become the Senior Vice-President of Broadcast News Operations and to oversee the company's stations across the country, he retired in 2000. That year, Haag received the broadcast industry's highest honor, the George Foster Peabody Award for lifetime achievement; the organization described Haag as "an industry icon, who's helped establish high ethical standards and quality reporting at both local and network news levels." Former Nightline anchor Ted Koppel said in a letter to the Peabody committee that WFAA operates at a network level because "it reflects Marty Haag's sense of professionalism, his high standards and his impeccable value system."
After retirement, Haag worked as a consultant and taught several journalism courses at Southern Methodist University. Haag died of a stroke on January 10, 2004. Barbara Cochran of the Radio-Television News Directors Association called Haag, "... one of the best and brightest the television news business has known". Belo mourns passing of former executive H. Martin Haag, Jr.. A Tribute to Marty Haag Former Broadcast Division Executive receives Peabody Award Marty Haag on NewsHour with Jim Lehrer: Central Casting Marty Haag on NewsHour with Jim Lehrer: WBBM-TV