New York Stock Exchange
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was US$169 billion in 2013; the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007; the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it lists, it was part of NYSE Euronext, formed by the NYSE's 2007 merger with Euronext. The NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation; the earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement.
Securities exchange had been intermediated by the auctioneers who conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales; the earliest securities traded were governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms and reorganized. After sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance.
After re-forming as the New York Stock and Exchange Board the broker organization began renting out space for securities trading, taking place at the Tontine Coffee House. Several locations were used between 1865, when the present location was adopted; the invention of the electrical telegraph consolidated markets, New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership "because it used a more modern, continuous trading system superior to the NYSE’s twice-daily call sessions." The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were competing with the NYSE for customers. Buyers and dealers all wanted to complete transactions as and cheaply as technologically possible and that meant finding the markets with the most trading, or the greatest liquidity in today’s parlance.
Minimizing competition was essential to keep a large number of orders flowing, the merger helped the NYSE to maintain its reputation for providing superior liquidity." The Civil War stimulated speculative securities trading in New York. By 1869 membership had to be capped, has been sporadically increased since; the latter half of the nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression; the Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building; the NYSE announced its plans to merge with Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company.
NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, became a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext, the first transatlantic stock exchange. Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. "It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, financial industry firms". The principal sectors are securities industry, commercial banking, asset management, insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer. Presently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.
The exchange was closed shortly after the beginning of World War I, but it re-opened on November 28 of that year in order to help the war effort by trading bonds, reopened for stock tradin
RELX plc is a corporate group comprising companies that publish scientific and medical material, legal textbooks. It serves customers in over 180 nations, it was known as Reed Elsevier, came into being in 1992 as a result of the merger of Reed International, a British trade book and magazine publisher, Elsevier, a Netherlands-based scientific publisher. The company is publicly-listed, with shares traded on the London Stock Exchange, Amsterdam Stock Exchange and New York Stock Exchange. About 55 per cent of the company’s revenues are generated from the US, with 23 per cent from Europe and 22 per cent from the rest of the world; the company is one of the constituents of the FTSE 100 Index, Financial Times Global 500 and Euronext 100 Index. The company, known as Reed Elsevier, came into being in 1992, as a result of the merger of Reed International, a British trade book and magazine publisher, Elsevier, a Netherlands-based scientific publisher; the company re-branded itself as RELX in February 2015.
In 1895, Albert E. Reed established a newsprint manufacturing operation at Tovil Mill near Maidstone, Kent. In 1965 Reed Group, as it was known, became a conglomerate, creating its Decorative Products Division with the purchase of Crown Paints and Sanderson's wallpaper and DIY decorating interests. In 1970, Reed Group merged with the International Publishing Corporation and the company name was changed to Reed International Limited; the company continued to grow by merging with other publishers and produced high quality trade journals as IPC Business Press Ltd and women's and other consumer magazines as IPC magazines Ltd. The original family owners, the Reeds, were Methodists and encouraged good working conditions for their staff in the then-dangerous print trade. In 1985 the company decided to rationalise its operations, focusing on publishing and selling off its other interests. Sanderson was sold to WestPoint Pepperell, Inc. of Georgia, United States, that year, while Crown Paint and Polycell were sold to Williams Holdings in 1987.
The company's paper and packaging production operations were bundled together to form Reedpack and sold to private equity firm Cinven in 1988. In 1880, Jacobus George Robbers started a publishing company called NV Uitgeversmaatschappij Elsevier to publish literary classics and the encyclopedia Winkler Prins. Robbers named the company after the old Dutch printers family Elzevir, for example, published the works of Erasmus in 1587. Elsevier NV was based in Rotterdam but moved to Amsterdam in the late 1880s. Up to the 1930s, Elsevier remained a small family-owned publisher, with no more than ten employees. After the war it launched the weekly Elsevier magazine, which turned out to be profitable. A rapid expansion followed. Elsevier Press Inc. started in 1951 in Houston, Texas, USA, in 1962 publishing offices were opened in London and New York. Multiple mergers in the 1970s led to name changes, settling at "Elsevier Scientific Publishers" in 1979. In 1991, two years before the merger with Reed, Elsevier acquired Pergamon Press in the UK.
In February 1997, Reed Elsevier divested its trade publishing group to Random House. In 1998, Reed Elsevier sold the children's divisions of Heinemann, Methuen and Mammoth to the Egmont Group. In February 2007, the company announced its intention to sell Harcourt, its educational publishing division. On 4 May 2007 Pearson, the international education and information company, announced that it had agreed to acquire Harcourt Assessment and Harcourt Education International from Reed Elsevier for $950m in cash. In July 2007, Reed Elsevier announced its agreement to sell the remaining Harcourt Education business, including international imprint Heinemann, to Houghton Mifflin for $4 billion in cash and stock. In July 2009, Reed Elsevier announced its intention to sell most of its North American trade publications, including Publishers Weekly, Broadcasting & Cable, Multichannel News, although it planned to retain Variety. In April 2010, Reed Elsevier announced that it had sold 21 US magazines to other owners in recent months, that an additional 23 US trade magazines, including Restaurants & Institutions and Trade Show Week would cease publication.
The closures were due to the weak economy including an advertising slump. Variety, the company's last remaining North American title, was sold in October 2012. In 2014, Reed Business Information sold an online marketplace. In 2016, RELX sold Elsevier BeleggersBelangen in the Netherlands. In 2017 the company sold New Scientist magazine. RELX's Scientific, Technical & Medical business provides information and tools that help investors make decisions that improve scientific and healthcare outcomes, it operates under the name of Elsevier and generated revenues in the year to 31 December 2017 of £2.5 billion. ScienceDirect, an online database of primary research, contains 13 million documents. Scopus is a bibliographic database containing citations for academic journal articles, it contains more than 50 million items in more 20,000 titles from 5,000 publishers worldwide. Mendeley is a desktop and web program for managing and sharing research papers, discovering research data and collaborating online.
Elsevier is the world's largest publisher of academic articles with 16 per cent market share, accordin
Digipak is a registered trademark for a patented style of optical disc packaging. A digipak case consists of a rectangle cardboard package with one or more plastic trays capable of holding a CD or DVD attached to the inside. Variations include where the discs sit on a spindle inside. Among commercial audio CD releases, Digipak-style cases are one of the few common alternatives to the somewhat brittle jewel case. Digipak-style cases grew in popularity among recording artists in the early 2000s. Since Digipaks were among the first alternatives to jewel cases to be used by major record companies, because there is no other common name for Digipak-style packaging made by other companies, the term digipak or Digi-Pak is used generically when the media holder is a hub or "Soft Spot" rather than a full plastic tray. Digipak-style packaging is used for CD singles or special editions of CD albums and the tall DVD Digipak is used as a premium package for DVDs and DVD sets; such packaging is less resistant to abrasion than jewel cases, so it tends to show signs of wear quickly.
Licensed digipak manufacturers such as domestic U. S. printer and disc replicator Oasis Disc Manufacturing recommend coating the raw printed paper with a protective UV coating, thus ensuring greater longevity. Although less vulnerable to cracking than a jewel case, the disc tray inside the package remains rather brittle and is prone to cracking if the package is crushed; the disc tray can become detached if stored improperly. Manufacturers have sought to reduce environmental impact and improve functionality by introducing recycled components into its trays. Another one goes one step further by eliminating the plastic tray and replacing it with a paper tray made from sugarcane and egg carton. Many printers use sustainable material for the board stock. IMPAC Group, Inc. owned the Digi-Pak trademark. That company was folded into its AGI Media division. Following this acquisition, the Digipak name and designs were licensed to manufacturers around the world. MWV sold AGI Media to Atlas Holdings in 2010.
In 2012, Atlas purchased Shorewood Packaging from International Paper and merged the two companies to create AGI-Shorewood. Optical disc packaging Digipak Gallery from a digipak manufacturer Digipak equipment manufacturer
Piedmont, West Virginia
Piedmont is a town in Mineral County, West Virginia, US. It is part of the'Cumberland, MD-WV Metropolitan Statistical Area'; the population was 876 at the 2010 census. Piedmont was chartered in 1856 and the town is the subject of Colored People: A Memoir by Piedmont native Henry Louis Gates, Jr; as its name suggests, Piedmont is located at the base of a mountain, in this instance the foot of the Allegheny Front, the eastern edge of the Allegheny Mountains or Appalachian Plateau, on the south side of the North Branch of the Potomac River. Piedmont is located at 39°28′49″N 79°2′53″W. According to the United States Census Bureau, the town has a total area of 0.38 square miles, all of it land. The Town of Piedmont is situated in the Allegheny Front mountain range along the North Branch of the Potomac River. A century prior to the chartering of Piedmont, the area was opened for European settlement with the creation of Hampshire County in 1754 by the colonial government in Virginia; the region was the scene of hostile interactions between European settlers and indigenous Native American cultures during the French and Indian War.
Owing to its location and natural resources, the Piedmont area attracted German, Scotch-Irish, Swiss and Italian immigrants, making the region more diverse than the English-settled Hampshire County. These cultural differences within the county, as well as growing population in the years leading up to the Civil War would contribute to the formation of a new county; the village of Piedmont was settled by people seeking to extract coal from the Allegheny Front mountain range which extends for several miles to the south of the town. Its strategic location at the intersection of George's Creek Valley, an industrial center in neighboring Maryland, made Piedmont a desirable location for a depot on the Baltimore and Ohio Railroad as it pushed west on its route to Wheeling and the Ohio River; the original main line of the B&O railroad reached the site of Piedmont on July 21, 1851. Two years in 1853, the railroad reached the Ohio River at Wheeling, connecting Baltimore, Maryland with a direct route leading to the rapidly-growing Northwest Territory states.
The line through Piedmont remains a segment of the B&O system, now part of CSX Transportation. With the arrival of the B&O and the building of a roundhouse and rail yard, the Town of Piedmont was chartered in 1856. During the American Civil War, the town of Piedmont was raided by the McNeill's Rangers in an effort by the Confederates to disrupt B&O train service. Despite the interruption of the war, the region continued to develop new industrial and commercial institutions, leading to the creation of Mineral County in 1866. Along with neighboring Grant County, these two new counties were the first created in the state of West Virginia which itself was separated from Virginia in 1863. In 1888, William Luke established the West Virginia Paper Company on 50 acres of Maryland land known as West Piedmont, fueling further development of the region. Notable residents of Piedmont have included U. S. Senator Henry Gassaway Davis who worked as a storekeeper and railroad agent before opening the region's largest coal mines on the "Big Vein" on the Allegheny Front.
Leslie Thrasher, a noted illustrator whose work was featured on the covers of Liberty magazine and the Saturday Evening Post was born in Piedmont on September 15, 1889. Jazz musician and composer Don Redman was born in Piedmont on July 29, 1900. Henry Louis Gates, a professor of African-American history at Harvard University, was raised in Piedmont, an experience he described in his 1994 book Colored People. Steve Whiteman, lead singer for the glam/rock band Kix was raised in Piedmont and graduated from Piedmont High School; as of the census of 2010, there were 876 people, 385 households, 225 families residing in the town. The population density was 2,305.3 inhabitants per square mile. There were 480 housing units at an average density of 1,263.2 per square mile. The racial makeup of the town was 77.3% White, 17.9% African American, 0.1% Native American, 0.1% Asian, 0.6% from other races, 4.0% from two or more races. Hispanic or Latino of any race were 2.1% of the population. There were 385 households of which 33.8% had children under the age of 18 living with them, 29.9% were married couples living together, 21.8% had a female householder with no husband present, 6.8% had a male householder with no wife present, 41.6% were non-families.
36.9% of all households were made up of individuals and 16.6% had someone living alone, 65 years of age or older. The average household size was 2.28 and the average family size was 2.91. The median age in the town was 37.1 years. 25.9% of residents were under the age of 18. The gender makeup of the town was 47.3% male and 52.7% female. As of the census of 2000, there were 1,094 people, 423 households, 266 families residing in the town; the population density was 2,413.4 inhabitants per square mile. There were 499 housing units at an average density of 1,187.7 per square mile. The racial makeup of the town was 74.36% White, 21.79% African American, 0.20% Native American, 1.78% from other races, 1.87% from two or more races. Hispanic or Latino of any race were 2.07% of the population. There were 423 households out of which 29.3% had children under the age of 18 living with them, 38.1% were married couples living together, 20.1% had a female householder with no husband present, 37.1% were non-
American Pad & Paper LLC, or Ampad, is a manufacturer of office products, including writing pads, specialty papers, filing products and envelopes. Some products are marketed under the Ampad brand name, others are produced for brands including Staples and Wal-Mart; the company makes over 2500 products, including pads in a variety of sizes, paper grades and bindings. Its headquarters are located in Richardson, United States. With four factories in North America, including facilities in the United States and a plant in Matamoros, Mexico. Ampad was founded in 1888 by a paper mill employee, in Holyoke, Massachusetts. At the time, Holyoke was a major papermaking center. Holley began purchasing the rejects, or "sortings", from local paper mills, cutting the paper, inscribing rules on it, binding it into pads which he could sell at a discount. Within a year, Holley's business filled a whole floor of a commercial building on Holyoke's Main Street. By 1894, the business grew to occupy an entire building, at the corner of Winter and Appleton Streets in Holyoke, in 1909, the size of its facilities there were nearly doubled.
By the end of World War II, the company had expanded outside of Massachusetts and established international footholds. Known as the Ampad Holding Corporation, the company was purchased in 1986 by the Mead Corporation. In 1992, the newly formed holding company American Pad & Paper and Bain Capital purchased the subsidiary from Mead. Upon its formation, American Pad & Paper consolidated its 13 manufacturing and distribution facilities into six in 21 locations in the US. At the time, the company had more than 3,700,000 square feet of production and warehouse space in California, Georgia, Massachusetts, New Jersey, New York, Pennsylvania, Texas and Wisconsin; the company continued to enjoy 53 percent compound annual growth in net sales, which increased from $8.8 million in 1992 to $200.5 million in 1996, when the company became publicly traded. The company made a number of acquisitions, including writing products company SCM in July 1994, brand names from the American Trading and Production Corporation in August 1995, WR Acquisition and the Williamhouse-Regency Division of Delaware, Inc. in October, 1995, Niagara Envelope Company, Inc. in 1996, Shade/Allied, Inc. in February 1997.
On January 8, 1999, unable to sustain profitability, the company announced it would be delisted from the New York Stock Exchange. After filing for Chapter 11 bankruptcy protection, Ampad was acquired in 2003 by an affiliate of Crescent Capital Investments renamed Arcapita. Ampad's current president and CEO, Donald Meltzer, joined the company in August 2005, having served as Vice President and General Manager of the Roofing Systems Group at Johns-Manville, before that as the Executive Vice President and COO of Clore Automotive. On June 8, 2010 Ampad was acquired by Esselte. In July 2014, it was sold to TOPS Products; the company claims its founder, Thomas W. Holley, invented the legal pad, no other company has challenged this claim.
Supreme Court of the United States
The Supreme Court of the United States is the highest court in the federal judiciary of the United States. Established pursuant to Article III of the U. S. Constitution in 1789, it has original jurisdiction over a narrow range of cases, including suits between two or more states and those involving ambassadors, it has ultimate appellate jurisdiction over all federal court and state court cases that involve a point of federal constitutional or statutory law. The Court has the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution or an executive act for being unlawful. However, it may act only within the context of a case in an area of law over which it has jurisdiction; the court may decide cases having political overtones, but it has ruled that it does not have power to decide nonjusticiable political questions. Each year it agrees to hear about one hundred to one hundred fifty of the more than seven thousand cases that it is asked to review.
According to federal statute, the court consists of the Chief Justice of the United States and eight associate justices, all of whom are nominated by the President and confirmed by the Senate. Once appointed, justices have lifetime tenure unless they resign, retire, or are removed from office; each justice has a single vote in deciding. When the chief justice is in the majority, he decides. In modern discourse, justices are categorized as having conservative, moderate, or liberal philosophies of law and of judicial interpretation. While a far greater number of cases in recent history have been decided unanimously, decisions in cases of the highest profile have come down to just one single vote, exemplifying the justices' alignment according to these categories; the Court meets in the Supreme Court Building in Washington, D. C, its law enforcement arm is the Supreme Court of the United States Police. It was while debating the division of powers between the legislative and executive departments that delegates to the 1787 Constitutional Convention established the parameters for the national judiciary.
Creating a "third branch" of government was a novel idea. Early on, some delegates argued that national laws could be enforced by state courts, while others, including James Madison, advocated for a national judicial authority consisting of various tribunals chosen by the national legislature, it was proposed that the judiciary should have a role in checking the executive power to veto or revise laws. In the end, the Framers compromised by sketching only a general outline of the judiciary, vesting federal judicial power in "one supreme Court, in such inferior Courts as the Congress may from time to time ordain and establish", they delineated neither the exact powers and prerogatives of the Supreme Court nor the organization of the Template:Judicial branch as a whole. The 1st United States Congress provided the detailed organization of a federal judiciary through the Judiciary Act of 1789; the Supreme Court, the country's highest judicial tribunal, was to sit in the nation's Capital and would be composed of a chief justice and five associate justices.
The act divided the country into judicial districts, which were in turn organized into circuits. Justices were required to "ride circuit" and hold circuit court twice a year in their assigned judicial district. After signing the act into law, President George Washington nominated the following people to serve on the court: John Jay for chief justice and John Rutledge, William Cushing, Robert H. Harrison, James Wilson, John Blair Jr. as associate justices. All six were confirmed by the Senate on September 26, 1789. Harrison, declined to serve. In his place, Washington nominated James Iredell; the Supreme Court held its inaugural session from February 2 through February 10, 1790, at the Royal Exchange in New York City the U. S. capital. A second session was held there in August 1790; the earliest sessions of the court were devoted to organizational proceedings, as the first cases did not reach it until 1791. When the national capital moved to Philadelphia in 1790, the Supreme Court did so as well.
After meeting at Independence Hall, the Court established its chambers at City Hall. Under Chief Justices Jay and Ellsworth, the Court heard few cases; as the Court had only six members, every decision that it made by a majority was made by two-thirds. However, Congress has always allowed less than the court's full membership to make decisions, starting with a quorum of four justices in 1789; the court lacked a home of its own and had little prestige, a situation not helped by the era's highest-profile case, Chisholm v. Georgia, reversed within two years by the adoption of the Eleventh Amendment; the court's power and prestige grew during the Marshall Court. Under Marshall, the court established the power of judicial review over acts of Congress, including specifying itself as the supreme expositor of the Constitution and making several important constitutional rulings that gave shape and substance to the balance of power between the federal government and states; the Marshall Court ended the practice of each justice issuin
Arthur D. Little
Arthur D. Little is an international management consulting firm headquartered in Boston, United States, formally incorporated by that name in 1909 by Arthur Dehon Little, an MIT chemist who had discovered acetate. Arthur D. Little pioneered the concept of contracted professional services; the company played key roles in the development of business strategy, operations research, the word processor, the first synthetic penicillin, LexisNexis, SABRE and NASDAQ. Today the company is a multi-national management consulting firm operating as a partnership; the roots of the company were started in 1886 by Arthur Dehon Little, an MIT chemist, co-worker Roger B. Griffin, another chemist and a graduate of the University of Vermont who had met when they both worked for Richmond Paper Company, their new company, Little & Griffin, was located in Boston where MIT was located. Griffin and Little prepared a manuscript for The Chemistry of Paper-making, for many years an authoritative text in the area; the book had not been finished when Griffin was killed in a laboratory accident in 1893.
Little, who had studied Chemistry at MIT, collaborated with MIT and William Hultz Walker of the MIT Chemistry department, forming a partnership, Little & Walker, which lasted from 1900 to 1905, while both MIT and Little's company were still located in Boston. The partnership dissolved in 1905 when Walker dedicated all of his time to being in charge of the new Research Laboratory of Applied Chemistry at MIT. Little continued on his own and formally incorporated the company, Arthur D. Little, in 1909, he conducted analytical studies, the precursor of the consulting studies for which the firm would become famous. He taught papermaking at MIT from 1893 to 1916. In 1917, the company based at 103 Milk Street in Boston, moved to a building of its own, the Arthur D. Little Inc. Building, at 30 Memorial Drive on the Charles River next to the new campus of MIT, which had relocated from Boston to Cambridge; the building was added to the National Register of Historic Places in 1976. In November 1953, ADL opened a 40-acre site for its Acorn Park labs in west Cambridge, about 6 miles from MIT.
The new site took its name from the company motto - "Glandes Sparge Ut Quercus Crescant," translated as "Scatter Acorns That Oaks May Grow." The Memorial Drive Trust, a tax-exempt retirement trust for the benefit of its employees, was set up. From 1972 to 2001 ADL owned Cambridge Consultants Ltd in Cambridge UK and both companies forged close links; as the pioneer firm in professional services, Arthur D. Little played a key role in numerous 20th-century business initiatives: In 1911 ADL organized General Motors' first R&D lab, leading to the formation of the firm's dedicated management consulting division, the birth of the management consulting industry. In 1916 ADL was commissioned by the Canadian Pacific Railway to do a survey of Canada's natural resources. In 1921 the firm succeeded in using a bucket of sows' ears to make a silk purse; this revolutionary achievement became part of the Smithsonian Institute's collection. In 1968 ADL designed the NASDAQ stock exchange systems for Tokyo. In 1980, ADL produced the European Commission's first white paper on telecommunications deregulation, having completed the first worldwide telecommunications database on phones installed, technical trends and regulatory information.
It helped privatize British Rail regarded as one of the most complex privatization exercises in the world. By 2001, Arthur D. Little reached its peak as a global consulting firm. However, a new management team mismanaged the company's core business and engaged in manipulation of the Memorial Drive Trust; the ADL Board of Trustees replaced this management team. However, the damage had been done, Arthur D. Little filed Chapter 11 bankruptcy protection in 2002. At an auction in 2002, Paris-based Altran Technologies bought the non-U. S. Assets and brand name of Arthur D. Little. Under Altran's ownership, Arthur D. Little operated as a European-centric company rebuilding and strengthening its core practices in oil and gas, telecommunications, automotive and chemicals. ADL grew and expanded throughout Europe, the Middle East, Asia and continued to be recognized for its expertise in areas combining aspects of technology and strategy. A group of partners led a management buyout from the Altran group in 2011.
The MBO was completed on 30 December 2011 with the vast majority of ADL directors becoming partners and shareholders. A small number of principals, as well as the CFO and COO, are shareholders; the firm is led by the elected Global CEO, Ignacio Garcia-Alves, the leader of the MBO team. The firm operates with an elected board of directors and several elected committees - Compensation Committee, Partnership Committee, an Audit Committee. Since the MBO, ADL opened new offices in Turkey, Buenos Aires and Hong Kong. In addition, ADL re-established itself in the US market and has opened offices in Boston, New York, San Francisco. Arthur D. Little is organized across a number of industry specialty groups including Automotive, Energy / Utilities / Chemicals, Telecommunication / Information / Media / Electronics, Consumer Goods & Retail, Healthcare & Life Sciences, Engineering / Manufacturing, Public Services, Travel & Transportation. Major service lines are in Strategy & Organization, Technology Innovation Management, Operations Management, Risk/Safety.
In 2019, Arthur D. Little is rated #10 and #11 in Vault's 2019 Consulting rankings for Europe and Asia respectively. ADL re-established itself