United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; these coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar; the pure silver dollar is known as the American Silver Eagle. Section 5112 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the "Statements" are being expressed in U. S. dollars. The U. S. dollar may therefore be described as the unit of account of the United States.
The word "dollar" is one of the words in the first paragraph of Section 9 of Article I of the Constitution. There, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States. Unlike the Spanish milled dollar, the U.
S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
Chief executive officer
The chief executive officer or just chief executive, is the most senior corporate, executive, or administrative officer in charge of managing an organization – an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and some government organizations; the CEO of a corporation or company reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. In the early 21st century, top executives had technical degrees in science, engineering or law; the responsibility of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure.
They can be far-reaching or quite limited and are enshrined in a formal delegation of authority. Responsibilities include being a decision maker on strategy and other key policy issues, leader and executor; the communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, drives change within the organization; as a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, business development, human resources, etc; the CEO of a company is not the owner of the company. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes. In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, these two roles will always be held by different people.
This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority; the aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors is equivalent to the supervisory board, while the executive board may be known as the executive committee. In the United States, in business, the executive officers are the top officers of a corporation, the chief executive officer being the best-known type; the definition varies. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any manager, or officer. A CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is the president, is the vice-president. An organization may have more than one vice-president, each tasked with a different area of responsibility; some organizations have subordinate executive officers who have the word chief in their job title, such as chief operating officer, chief financial officer and chief technology officer. The public relations-focused position of chief reputation officer is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, the driving force behind, an organisation culture". In the US, the term chief executive officer is used in business, whereas the term executive director is used in the not-for-profit sector; these terms are mutually exclusive and refer to distinct legal duties and responsibilities.
Implicit in the use of these titles, is that the public not be misled and the general standard regarding their use be applied. In the UK, chief executive and chief executive officer are used in both business and the charitable sector; as of 2013, the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are non-executive roles. In the United Kingdom, the term director is used instead of chief officer". Business publicists since the days of Edward Bernays and his client John D. Rockefeller and more the corporate publicists for Henry Ford, promoted the concept of the "celebrity CEO". Business journalists have adopted this approach, which assumes that the corporate achievements in the arena of manufacturing, wer
President (corporate title)
The President is a leader of an organization, community, trade union, university or other group. The relationship between the president and the Chief Executive Officer varies, depending on the structure of the specific organization. In a similar vein to the Chief Operating Officer, the title of corporate President as a separate position is loosely defined; the powers of the president vary across organizations and such powers come from specific authorization in the bylaws like Robert's Rules of Order. The term "president" was used to designate someone who presided over a meeting, was used in the same way that "foreman" or "overseer" is used now, it has now come to mean "chief officer" in terms of administrative or executive duties. In addition to the administrative or executive duties in organizations, the president has the duties of presiding over meetings; such duties at meetings include: calling the meeting to order determining if a quorum is present announcing the items on the order of business or agenda as they come up recognition of members to have the floor enforcing the rules of the group putting all questions to a vote adjourning the meetingWhile presiding, the president should remain impartial and not interrupt a speaker if the speaker has the floor and is following the rules of the group.
In committees or small boards, the president votes along with the other members. However, in assemblies or larger boards, the president should vote only when it can affect the result. At a meeting, the president only has one vote; the powers of the president vary across organizations. In some organizations the president has the authority to hire staff and make financial decisions, while in others the president only makes recommendations to a board of directors, still others the president has no executive powers and is a spokesman for the organization; the amount of power given to the president depends on the type of organization, its structure, the rules it has created for itself. If the president exceeds the given authority, engages in misconduct, or fails to perform the duties, the president may face disciplinary procedures; such procedures may include suspension, or removal from office. The rules of the particular organization would provide details on who can perform these disciplinary procedures and the extent that they can be done.
Whoever appointed or elected the president has the power to discipline this officer. Some organizations may have a position of President-Elect in addition to the position of President; the membership of the organization elects a President-Elect and when the term of the President-Elect is complete, that person automatically becomes President. Some organizations may have a position of Immediate Past President in addition to the position of President. In those organizations, when the term of the President is complete, that person automatically fills the position of Immediate Past President; the organization can have such a position. The duties of such a position would have to be provided in the bylaws. Bennett, Nathan. Riding Shotgun: The Role of the COO. Stanford, California: Stanford University Press. ISBN 0-8047-5166-8. National Association of Parliamentarians®, Education Committee. Spotlight on You the President. Independence, MO: National Association of Parliamentarians®. ISBN 1-884048-15-3
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
Louisville is the largest city in the Commonwealth of Kentucky and the 29th most-populous city in the United States. It is one of two cities in Kentucky designated as first-class, the other being Lexington, the state's second-largest city. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County, located in the northern region of the state, on the border with Indiana. Louisville, named for King Louis XVI of France, was founded in 1778 by George Rogers Clark, making it one of the oldest cities west of the Appalachian Mountains. Sited beside the Falls of the Ohio, the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico, the settlement first grew as a portage site, it was the founding city of the Louisville and Nashville Railroad, which grew into a 6,000-mile system across 13 states. Today, the city is known as the home of legendary boxer Muhammad Ali, the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Louisville Cardinals athletic teams, Louisville Slugger baseball bats, three of Kentucky's six Fortune 500 companies, being Humana, Kindred Healthcare and Yum!
Brands. Its main airport is the site of United Parcel Service's worldwide air hub. Since 2003, Louisville's borders have been the same as those of Jefferson County, after a city-county merger; the official name of this consolidated city-county government is the Louisville/Jefferson County Metro Government, abbreviated to Louisville Metro. Despite the merger and renaming, the term "Jefferson County" continues to be used in some contexts in reference to Louisville Metro including the incorporated cities outside the "balance" which make up Louisville proper; the city's total consolidated population as of the 2017 census estimate was 771,158. However, the balance total of 621,349 excludes other incorporated places and semiautonomous towns within the county and is the population listed in most sources and national rankings; the Louisville-Jefferson County, KY-IN Metropolitan Statistical Area, sometimes referred to as Kentuckiana, includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana.
As of 2017, the MSA had a population of 1,293,953. The history of Louisville spans hundreds of years, has been influenced by the area's geography and location; the rapids at the Falls of the Ohio created a barrier to river travel, as a result, settlements grew up at this stopping point. The first European settlement in the vicinity of modern-day Louisville was on Corn Island in 1778 by Col. George Rogers Clark, credited as the founder of Louisville. Several landmarks in the community are named after him. Two years in 1780, the Virginia General Assembly approved the town charter of Louisville; the city was named in honor of King Louis XVI of France, whose soldiers were aiding Americans in the Revolutionary War. Early residents lived in forts to protect themselves from Indian raids, but moved out by the late 1780s. In 1803, explorers Meriwether Lewis and William Clark organized their expedition across America in the town of Clarksville, Indiana at the present-day Falls of the Ohio opposite Louisville, Kentucky.
The city's early growth was influenced by the fact that river boats had to be unloaded and moved downriver before reaching the falls. By 1828, the population had grown to 7,000 and Louisville became an incorporated city. Early Louisville was slaves worked in a variety of associated trades; the city was a point of escape for slaves to the north, as Indiana was a free state. During this point in the 1850s, the city was growing and vibrant, but that came with negativity, it was the center of planning, supplies and transportation for numerous campaigns in the Western Theater. By the year 1855, ethnic tension was arising. Nobody knew. On August 6, 1855 "Bloody Monday" happened. By 1861, the civil war broke out. During the Civil War, Louisville was a major stronghold of Union forces, which kept Kentucky in the Union. By the end of the war, Louisville had not been attacked, although skirmishes and battles, including the battles of Perryville and Corydon, took place nearby. After Reconstruction, returning Confederate veterans took political control of the city, leading to the jibe that Louisville joined the Confederacy after the war was over.
The first Kentucky Derby was held on May 1875, at the Louisville Jockey Club track. The Derby was shepherded by Meriwether Lewis Clark, Jr. the grandson of William Clark of the Lewis and Clark Expedition, grandnephew of the city's founder George Rogers Clark. Horse racing had a strong tradition in Kentucky, whose Inner Bluegrass Region had been a center of breeding high-quality livestock throughout the 19th century. Ten thousand spectators watched the first Derby. On March 27, 1890, the city was devastated and its downtown nearly destroyed when an F4 tornado tore through as part of the middle Mississippi Valley tornado outbreak. An estimated 74 to 120 people were killed and 200 were injured; the damage cost the city $2.5 million. In 1914, the City of Louisville passed a racially-based zoning residential zoning code, following Baltimore, a handful of cities in the Carolinas; the NAACP challenged the ordinance in two cases. Two weeks after the ordinance enacted, an African-American named Arthur Harris moved into a house on a block designated for whites.
He was found guilty. The second case was planned to create a test case. William Warley, the president of the local chapter
Benjamin Breier has served as President and CEO and a member of the Board of Directors of Kindred Healthcare since March 2015. He serves on the Board for the Federation of American Hospitals. A son of two lawyers, Robert G. Breier and Eileen G. Breier, Breier grew up in Miami, he received a B. S. in Economics from The Wharton School of Business at The University of Pennsylvania in 1993, an MBA and MHA from The University of Miami in 1991. Breier and his family live in Kentucky, his sister Lylle is a marketing executive at Walt Disney Company. Breier’s healthcare career began in Florida where he worked as an administrator to help a hospital recover after devastation caused by Hurricane Andrew. In 1995, Breier was promoted to an assistant vice president at the hospital’s system, Baptist Health Systems. In January 1997, Breier joined Premier Practice Management, a subsidiary of Premier, Inc. as Chief Operating Officer, he became Chief Executive Officer in June 1998. After Premier, Breier served as Vice President of Operations at Concentra, Inc. and in 2003, he was appointed Concentra’s Senior Vice President of Operations.
Breier joined Kindred Healthcare in August 2005 as President of the company’s Rehabilitation Division, where he served until he was appointed President of the Hospital Division in March 2008. In August 2010, Breier was promoted to Chief Operating Officer of Kindred, he assumed the additional responsibilities of President of the company in May 2012. In October 2014, Kindred announced that Breier would become Chief Executive Officer, effective March 31, 2015; the appointment took effect as Kindred was completing its acquisition of home health and hospice provider Gentiva Health Services, a transaction that created the largest diversified provider of post-acute healthcare services in the country. In 2018, Breier oversaw a transaction with Humana, TPG Capital, Welsh, Anderson & Stowe that separated Kindred into two, privately-held companies, a home health care company and a specialty hospital company. Effective July 2018, Breier became President and CEO of the specialty hospital company, Kindred Healthcare.
In 2010, Modern Healthcare named Breier to its Up and Comers list. From 2015 to 2017, Modern Healthcare magazine included Breier on its list of the “100 Most Influential People in Healthcare.”