Los Angeles Times
The Los Angeles Times is a daily newspaper, published in Los Angeles, since 1881. It has the fourth-largest circulation among United States newspapers, is the largest U. S. newspaper not headquartered on the East Coast. The paper is known for its coverage of issues salient to the U. S. West Coast, such as immigration trends and natural disasters, it has won more than 40 Pulitzer Prizes for its coverage of other issues. As of June 18, 2018, ownership of the paper is controlled by Patrick Soon-Shiong, the executive editor is Norman Pearlstine. In the nineteenth century, the paper was known for its civic boosterism and opposition to unions, the latter of which led to the bombing of its headquarters in 1910; the paper's profile grew in the 1960s under publisher Otis Chandler, who adopted a more national focus. In recent decades, the paper's readership has declined and it has been beset by a series of ownership changes, staff reductions, other controversies. In January 2018, the paper's staff voted to unionize, in July 2018 the paper moved out of its historic downtown headquarters to a facility near Los Angeles International Airport.
The Times was first published on December 4, 1881, as the Los Angeles Daily Times under the direction of Nathan Cole Jr. and Thomas Gardiner. It was first printed at the Mirror printing plant, owned by Jesse Yarnell and T. J. Caystile. Unable to pay the printing bill and Gardiner turned the paper over to the Mirror Company. In the meantime, S. J. Mathes had joined the firm, it was at his insistence that the Times continued publication. In July 1882, Harrison Gray Otis moved from Santa Barbara to become the paper's editor. Otis made the Times a financial success. Historian Kevin Starr wrote that Otis was a businessman "capable of manipulating the entire apparatus of politics and public opinion for his own enrichment". Otis's editorial policy was based on civic boosterism, extolling the virtues of Los Angeles and promoting its growth. Toward those ends, the paper supported efforts to expand the city's water supply by acquiring the rights to the water supply of the distant Owens Valley; the efforts of the Times to fight local unions led to the October 1, 1910 bombing of its headquarters, killing twenty-one people.
Two union leaders and Joseph McNamara, were charged. The American Federation of Labor hired noted trial attorney Clarence Darrow to represent the brothers, who pleaded guilty. Otis fastened a bronze eagle on top of a high frieze of the new Times headquarters building designed by Gordon Kaufmann, proclaiming anew the credo written by his wife, Eliza: "Stand Fast, Stand Firm, Stand Sure, Stand True." Upon Otis's death in 1917, his son-in-law, Harry Chandler, took control as publisher of the Times. Harry Chandler was succeeded in 1944 by his son, Norman Chandler, who ran the paper during the rapid growth of post-war Los Angeles. Norman's wife, Dorothy Buffum Chandler, became active in civic affairs and led the effort to build the Los Angeles Music Center, whose main concert hall was named the Dorothy Chandler Pavilion in her honor. Family members are buried at the Hollywood Forever Cemetery near Paramount Studios; the site includes a memorial to the Times Building bombing victims. The fourth generation of family publishers, Otis Chandler, held that position from 1960 to 1980.
Otis Chandler sought legitimacy and recognition for his family's paper forgotten in the power centers of the Northeastern United States due to its geographic and cultural distance. He sought to remake the paper in the model of the nation's most respected newspapers, notably The New York Times and The Washington Post. Believing that the newsroom was "the heartbeat of the business", Otis Chandler increased the size and pay of the reporting staff and expanded its national and international reporting. In 1962, the paper joined with The Washington Post to form the Los Angeles Times–Washington Post News Service to syndicate articles from both papers for other news organizations, he toned down the unyielding conservatism that had characterized the paper over the years, adopting a much more centrist editorial stance. During the 1960s, the paper won four Pulitzer Prizes, more than its previous nine decades combined. Writing in 2013 about the pattern of newspaper ownership by founding families, Times reporter Michael Hiltzik said that: The first generations bought or founded their local paper for profits and social and political influence.
Their children enjoyed both profits and influence, but as the families grew larger, the generations found that only one or two branches got the power, everyone else got a share of the money. The coupon-clipping branches realized that they could make more money investing in something other than newspapers. Under their pressure the companies split apart, or disappeared. That's the pattern followed over more than a century by the Los Angeles Times under the Chandler family; the paper's early history and subsequent transformation was chronicled in an unauthorized history Thinking Big, was one of four organizations profiled by David Halberstam in The Powers That Be. It has been the whole or partial subject of nearly thirty dissertations in communications or social science in the past four decades; the Los Angeles Times began a decline with Los Angeles itself with the decline in military production at the end of the Cold War. It faced hiring freezes in 1991-1992. Another major decision at the same time was to cut the range of circulation.
They cut circulation in California's Central Valley, Nevada and the San Diego ed
Six Flags Magic Mountain
Six Flags Magic Mountain is a 262-acre theme park located in the Santa Clarita, neighborhood of Valencia, 35 miles northwest of downtown Los Angeles. It opened on May 1971, as Magic Mountain, a development of the Newhall Land and Farming Company. In 1979, Six Flags added the name "Six Flags" to the park's title. With 19 roller coasters, Six Flags Magic Mountain holds the world record for most roller coasters in an amusement park. In 2017, the park had an estimated 3.3 million visitors, ranking it sixteenth in attendance in North America. When the park opened, there were 500 employees and 33 attractions, many of which were designed and built by Arrow Development Co. which designed and built many of the original attractions at Disneyland. The admission price in 1971 was $5 for adults, $3.50 for children between the ages of 3 and 12. Because the park was in a remote part of Los Angeles County, the Greyhound bus line provided bus service to and from the park and Los Angeles, as well as from Northern California, optionally allowed purchase of park admission at the time the bus ticket was purchased.
At its 1971 opening, the rides and attractions included a steel coaster. There were four transportation rides to the peak: Funicular, a cable railway or funicular renamed Orient Express; the Showcase Theater, was part of the original park and featured Barbra Streisand as the first of many headline performers who would appear at Magic Mountain over the years. In the 1971 season, Magic Mountain obtained permission from Warner Bros. to use Looney Tunes characters. However, they did not continue using the characters after their first year. In 1972, they began using trolls as the park mascots; the trolls King Blop known as King Troll, Bleep and the Wizard became recognizable symbols of Magic Mountain. All King Productions, a contractor, provided the entertainers wearing the costumes until December 31, 1972, when Magic Mountain took on that role; the characters were used until 1985. In 1972, a second flume ride named Jet Stream was added. In 1973 the park added its second roller coaster, the Mountain Express, a compact Schwarzkopf Wildcat model steel coaster.
In 1974 the park installed a new complex of spinning rides in what would be known as Back Street. The new additions consisted of the Himalaya, Electric Rainbow, Tumble Drum. In 1975, the Grand Centennial Railway opened in the Back Street, it took riders on a train journey to back. With the opening of Great American Revolution in 1976, Magic Mountain became the first park in the world to have a modern, 360-degree steel looping coaster; when it was built, there was little in the way of surrounding brush. Now, the tracks are surrounded by trees and bushes, which prevents the riders from knowing the track layout beforehand. Universal filmed a major movie at Magic Mountain with the Revolution as its centerpiece called Rollercoaster in 1977. In 1978, Colossus, at the time the fastest, largest dual-tracked wooden coaster, opened. Following its first season, it was extensively redone; when it reopened, it was a much smoother ride. In 1991, the camel hump before the last, or third, turn was replaced by a block brake.
Though it decreased the speed of the ride after this particular brake, it did allow three trains to run per side at a time increasing capacity. One of the trains sometimes ran backwards for a few years in the mid-80s. However, until the late 1990s this kind of ride was no longer possible due to the newer ride system in place, as well as different trains. During Fright Fest, the park runs one side backwards using a set of trains acquired from the now demolished Psyclone, located on the other side of the park. In 2015, the coaster was re-tracked with steel tracking and several inversions were added to the coaster, it was subsequently rebranded "Twisted Colossus". This renovation was completed by Rocky Mountain Construction. In 1979 the park was sold to Six Flags and became known as Six Flags Magic Mountain in 1980. In 1981, Six Flags Magic Mountain introduced a ride, on the west coast for the first time called Roaring Rapids, it was developed by Intamin in conjunction with the now defunct Six Flags Astroworld, which had opened a similar ride in 1979.
Along with Rapids came the completion of the midway near Spillikin Corners to link with Revolution's area. A complete circuit could be made around the park, it was designed as a dual-sided station, but only one was developed, all that exists of the possible second side is a few supports. It uses large pumps to circulate water, each of the two pumps can circulate 88,500 gallons per minute; the reservoir can hold 1.5 million gallons of water, one of the innovations used on it was the introduction of guide boards to help eliminate jam ups. In 1982 the attraction Freefall was added. Built by Intamin, it was considered a cutting edge drop tower ride, if not a "roller coaster." It ascends the tower and drops down, with the track curving to horizontal, leaving riders on their backs. Others were built for other parks. Today, most of these rides
Citrus is a genus of flowering trees and shrubs in the rue family, Rutaceae. Plants in the genus produce citrus fruits, including important crops such as oranges, grapefruits and limes; the most recent research indicates an origin of the genus in the Himalayas. Previous research indicated an origin in the part of Southeast Asia bordered by Northeast India and the Yunnan province of China, it is in this region that some commercial species such as oranges and lemons originated. Citrus fruit has been cultivated in an ever-widening area since ancient times. Citrus plants are native to subtropical and tropical regions of Asia, Island Southeast Asia, Near Oceania, they were first domesticated in these areas. A genomic and biogeographical analysis by Wu et al. have shown that the center of origin of the genus Citrus is the southeast foothills of the Himalayas, in a region stretching from eastern Assam, northern Myanmar, to western Yunnan. It diverged from a common ancestor with Poncirus trifoliata. A change in climate conditions during the Late Miocene resulted in a sudden speciation event.
The species resulting from this event include the citrons of South Asia. This was followed by the spread of citrus species into Taiwan and Japan in the Early Pliocene, resulting in the tachibana orange; the earliest introductions of citrus species by human migrations was during the Austronesian expansion, where Citrus hystrix, Citrus macroptera, Citrus maxima were among the canoe plants carried by Austronesian voyagers eastwards into Micronesia and Polynesia. The citron was introduced early into the Mediterranean basin from India and Southeast Asia, it was introduced via two ancient trade routes: an overland route through Persia, the Levant and the Mediterranean islands. Although the exact date of the original introduction is unknown due to the sparseness of archaeobotanical remains, the earliest evidence are seeds recovered from the Hala Sultan Tekke site of Cyprus, dated to around 1200 BCE. Other archaeobotanical evidence include pollen from Carthage dating back to the 4th century BCE; the earliest complete description of the citron was first attested from Theophrastus, c. 310 BCE.
Lemons and sour oranges are believed to have been introduced to the Mediterranean by Arab traders at around the 10th century. Mandarins were not introduced until the 19th century; this group of species has reached great importance in some of the Mediterranean countries, in the case of orange and lemon trees, they found here soil and climatic conditions which allow them to achieve a high level of fruit quality better than in the regions from where they came. The "native" oranges of Florida originated with the Spanish conquistadores; the agronomists of classical Rome made many references to the cultivation of citrus fruits within the limits of their empire. King Louis XIV of France housed citrus in orangeries, to protect the tropical fruit to be grown in the 1600s France; the generic name originated from Latin, where it referred to either the plant now known as citron or a conifer tree. It is somehow related to the ancient Greek word for cedar, κέδρος; this may be due to perceived similarities in the smell of citrus leaves and fruit with that of cedar.
Collectively, Citrus fruits and plants are known by the Romance loanword agrumes. The large citrus fruit of today evolved from small, edible berries over millions of years. Citrus plants diverged from a common ancestor about 15 million years ago, about when it diverged from the related severinia, for example the Chinese box orange. About 7 million years ago, citrus plants diverged into two groups, the main citrus genus and the ancestors of the trifoliate orange, enough related that it can still be hybridized with all other citrus; these estimates are made using genetic mapping of plant chloroplasts. A DNA study published in Nature in 2018 concludes that citrus trees originated in the foothills of the Himalayas, in the area of Assam, western Yunnan, northern Myanmar; the three ancestral species in the genus Citrus associated with modern Citrus cultivars are the mandarin orange and citron. All of the common commercially important citrus fruits are hybrids involving these three species with each other, their main progenies, other wild Citrus species within the last few thousand years.
A fossil leaf from the Pliocene of Valdarno is described as †Citrus meletensis In China, fossil leaf specimens of †Citrus linczangensis have been collected from coal-bearing strata of the Bangmai Formation in the Bangmai village, about 10 km northwest of Lincang City, Yunnan. The Bangmai Formation contains abun
Yale University is a private Ivy League research university in New Haven, Connecticut. Founded in 1701, it is the third-oldest institution of higher education in the United States and one of the nine Colonial Colleges chartered before the American Revolution. Chartered by Connecticut Colony, the "Collegiate School" was established by clergy to educate Congregational ministers, it moved to New Haven in 1716 and shortly after was renamed Yale College in recognition of a gift from British East India Company governor Elihu Yale. Restricted to theology and sacred languages, the curriculum began to incorporate humanities and sciences by the time of the American Revolution. In the 19th century, the college expanded into graduate and professional instruction, awarding the first Ph. D. in the United States in 1861 and organizing as a university in 1887. Its faculty and student populations grew after 1890 with rapid expansion of the physical campus and scientific research. Yale is organized into fourteen constituent schools: the original undergraduate college, the Yale Graduate School of Arts and Sciences and twelve professional schools.
While the university is governed by the Yale Corporation, each school's faculty oversees its curriculum and degree programs. In addition to a central campus in downtown New Haven, the university owns athletic facilities in western New Haven, a campus in West Haven and forest and nature preserves throughout New England; the university's assets include an endowment valued at $29.4 billion as of October 2018, the second largest endowment of any educational institution in the world. The Yale University Library, serving all constituent schools, holds more than 15 million volumes and is the third-largest academic library in the United States. Yale College undergraduates follow a liberal arts curriculum with departmental majors and are organized into a social system of residential colleges. All members of the Faculty of Arts and Sciences—and some members of other faculties—teach undergraduate courses, more than 2,000 of which are offered annually. Students compete intercollegiately as the Yale Bulldogs in the NCAA Division I – Ivy League.
As of October 2018, 61 Nobel laureates, 5 Fields Medalists and 3 Turing award winners have been affiliated with Yale University. In addition, Yale has graduated many notable alumni, including five U. S. Presidents, 19 U. S. Supreme Court Justices, 31 living billionaires and many heads of state. Hundreds of members of Congress and many U. S. diplomats, 78 MacArthur Fellows, 247 Rhodes Scholars and 119 Marshall Scholars have been affiliated with the university. Its wealth and influence have led to Yale being reported as amoungst the most prestigious universities in the United States. Yale traces its beginnings to "An Act for Liberty to Erect a Collegiate School", passed by the General Court of the Colony of Connecticut on October 9, 1701, while meeting in New Haven; the Act was an effort to create an institution to train ministers and lay leadership for Connecticut. Soon thereafter, a group of ten Congregational ministers, Samuel Andrew, Thomas Buckingham, Israel Chauncy, Samuel Mather, Rev. James Noyes II, James Pierpont, Abraham Pierson, Noadiah Russell, Joseph Webb, Timothy Woodbridge, all alumni of Harvard, met in the study of Reverend Samuel Russell in Branford, Connecticut, to pool their books to form the school's library.
The group, led by James Pierpont, is now known as "The Founders". Known as the "Collegiate School", the institution opened in the home of its first rector, Abraham Pierson, today considered the first president of Yale. Pierson lived in Killingworth; the school moved to Saybrook and Wethersfield. In 1716, it moved to Connecticut. Meanwhile, there was a rift forming at Harvard between its sixth president, Increase Mather, the rest of the Harvard clergy, whom Mather viewed as liberal, ecclesiastically lax, overly broad in Church polity; the feud caused the Mathers to champion the success of the Collegiate School in the hope that it would maintain the Puritan religious orthodoxy in a way that Harvard had not. In 1718, at the behest of either Rector Samuel Andrew or the colony's Governor Gurdon Saltonstall, Cotton Mather contacted the successful Boston born businessman Elihu Yale to ask him for financial help in constructing a new building for the college. Through the persuasion of Jeremiah Dummer, Elihu "Eli" Yale, who had made a fortune through trade while living in Madras as a representative of the East India Company, donated nine bales of goods, which were sold for more than £560, a substantial sum at the time.
Cotton Mather suggested that the school change its name to "Yale College".. Meanwhile, a Harvard graduate working in England convinced some 180 prominent intellectuals that they should donate books to Yale; the 1714 shipment of 500 books represented the best of modern English literature, science and theology. It had a profound effect on intellectuals at Yale. Undergraduate Jonathan Edwards discovered John Locke's works and developed his original theology known as the "new divinity". In 1722 the Rector and six of his friends, who had a study group to discuss the new ideas, announced that they had given up Calvinism, become Arminians and joined the Church of England, they were returned to the colonies as missionaries for the Anglican faith. Thomas Clapp became president in 1745 and struggled to return the college to Calvinist orthodoxy, but he did not close the library. Other students found Deist books in the library. Yale was swept up by the great intellectual movements of the peri
St. Francis Dam
The St. Francis Dam was a curved concrete gravity dam, built to create a large regulating and storage reservoir for the city of Los Angeles, California; the reservoir was an integral part of the city's Los Angeles Aqueduct water supply infrastructure. It was located in San Francisquito Canyon of the Sierra Pelona Mountains, about 40 miles northwest of downtown Los Angeles, 10 miles north of the present day city of Santa Clarita; the dam was designed and built between 1924 and 1926 by the Los Angeles Department of Water and Power named the Bureau of Water Works and Supply. The department was under the direction of its General Manager and Chief Engineer, William Mulholland. At 11:57 p.m. on March 12, 1928, the dam catastrophically failed, the resulting flood took the lives of what is estimated to be at least 431 people. The collapse of the St. Francis Dam is considered to be one of the worst American civil engineering disasters of the 20th century and remains the second-greatest loss of life in California's history, after the 1906 San Francisco earthquake and fire.
The disaster marked the end of Mulholland's career. In the early years of Los Angeles, the city's water supply was obtained from the Los Angeles River; this was accomplished by diverting water from the river through a series of ditches called zanjas. At that time a private water company, the Los Angeles City Water Company, leased the city's waterworks and provided water to the city. Hired in 1878 as a zanjero, William Mulholland proved to be a brilliant employee who after doing his day's work would study textbooks on mathematics and geology, taught himself engineering and geology. Mulholland moved up the ranks of the Water Company and was promoted to Superintendent in 1886. In 1902, the City of Los Angeles ended its lease with the private water company and took control over the city's water supply; the city council established the Water Department with Mulholland as its Superintendent and when the city charter was amended in 1911, the Water Department was renamed the Bureau of Water Works and Supply.
Mulholland was named as its Chief Engineer. Mulholland achieved great recognition among members of the engineering community when he supervised the design and construction of the Los Angeles Aqueduct, which at the time was the longest aqueduct in the world and uses gravity alone to bring the water 233 miles from the Owens Valley to Los Angeles; the project was completed on time and under budget, despite several setbacks. Excluding the incidents of sabotage by Owens Valley residents in the early years, the aqueduct has continued to operate well throughout its history and remains in operation today, it was during the process of building the Los Angeles Aqueduct that Mulholland first considered sections of San Francisquito Canyon as a potential dam site. He felt that there should be a reservoir of sufficient size to provide water for Los Angeles for an extended period in the event of a drought or if the aqueduct were damaged by an earthquake. In particular he favored the area between where the hydroelectric power plants Powerhouses No. 1 and No. 2 were to be built, with what he perceived as favorable topography, a natural narrowing of the canyon downstream of a wide, upstream platform which would allow the creation of a large reservoir area with a minimum possible dam.
A large camp had been set up to house the workers near this area and Mulholland used his spare time becoming familiar with the area's geological features. In the area where the dam would be situated, he found the mid and upper portion of the western hillside consisted of a reddish colored conglomerate and sandstone formation that had small strings of gypsum interspersed within it. Below the red conglomerate, down the remaining portion of the western hillside, crossing the canyon floor and up the eastern wall, a drastically different rock composition prevailed; these areas were made up of mica schist, laminated, cross-faulted in many areas and interspersed with talc. Although many geologists disagreed on the exact location of the area of contact between the two formations, a majority opinion placed it at the inactive San Francisquito Fault line. Mulholland ordered exploratory tunnels and shafts excavated into the red conglomerate hillside to determine its characteristics, he had water percolation tests performed.
The results convinced him that the hill would make a satisfactory abutment for a dam should the need arise. A surprising aspect of the early geologic exploration came when the need for a dam arose. Although Mulholland wrote of the perilous nature of the face of schist on the eastern side of the canyon in his annual report to the Board of Public Works in 1911, it was either misjudged or ignored by the construction supervisor of the St. Francis Dam, Stanley Dunham. Dunham testified, at the Coroner's Inquest, that tests which he had ordered yielded results which showed the rock to be hard and of the same nature throughout the entire area which would become the eastern abutment, his opinion was. The population of Los Angeles was increasing rapidly. In 1900 the population was over 100,000. By 1910, it had become more than three times that number at 320,000, by 1920 the figure reached 576,673; this unexpectedly rapid growth brought a demand for a larger water supply. Between 1920 and 1926, seven smaller reservoirs were built and modifications were made to raise the height of its largest of the time, the Lower San Fernando, by seven feet, but the need for a still larger reservoir was clear.
The planned site of this new large reservoir was to be in Big Tujunga Canyon, above the city now known as Sunland, i
A dividend is a payment made by a corporation to its shareholders as a distribution of profits. When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business and pay a proportion of the profit as a dividend to shareholders. Distribution to shareholders may be in cash or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or share repurchase; when dividends are paid, shareholders must pay income taxes, the corporation does not receive a corporate income tax deduction for the dividend payments. A dividend is allocated as a fixed amount per share with shareholders receiving a dividend in proportion to their shareholding. For the joint-stock company, paying dividends is not an expense. Retained earnings are shown in the shareholders' equity section on the company's balance sheet – the same as its issued share capital. Public companies pay dividends on a fixed schedule, but may declare a dividend at any time, sometimes called a special dividend to distinguish it from the fixed schedule dividends.
Cooperatives, on the other hand, allocate dividends according to members' activity, so their dividends are considered to be a pre-tax expense. The word "dividend" comes from the Latin word "dividendum". In financial history of the world, the Dutch East India Company was the first recorded company to pay regular dividends; the VOC paid annual dividends worth around 18 percent of the value of the shares for 200 years of existence. Cash dividends are the most common form of payment and are paid out in currency via electronic funds transfer or a printed paper check; such dividends are a form of investment income and are taxable to the recipient in the year they are paid. This is the most common method of sharing corporate profits with the shareholders of the company. For each share owned, a declared amount of money is distributed. Thus, if a person owns 100 shares and the cash dividend is 50 cents per share, the holder of the stock will be paid $50. Dividends paid are not classified as an expense, but rather a deduction of retained earnings.
Dividends paid does appear on the balance sheet. Stock or scrip dividends are those paid out in the form of additional stock shares of the issuing corporation, or another corporation, they are issued in proportion to shares owned. Nothing tangible will be gained if the stock is split because the total number of shares increases, lowering the price of each share, without changing the market capitalization, or total value, of the shares held. Stock dividend distributions do not affect the market capitalization of a company. Stock dividends are not includable in the gross income of the shareholder for US income tax purposes; because the shares are issued for proceeds equal to the pre-existing market price of the shares. Property dividends or dividends in specie are those paid out in the form of assets from the issuing corporation or another corporation, such as a subsidiary corporation, they are rare and most are securities of other companies owned by the issuer, however they can take other forms, such as products and services.
Interim dividends are dividend payments made before a company's Annual General Meeting and final financial statements. This declared dividend accompanies the company's interim financial statements. Other dividends can be used in structured finance. Financial assets with a known market value can be distributed as dividends. For large companies with subsidiaries, dividends can take the form of shares in a subsidiary company. A common technique for "spinning off" a company from its parent is to distribute shares in the new company to the old company's shareholders; the new shares can be traded independently. The most popular metric to determine the dividend coverage is the payout ratio. Most the payout ratio is calculated based on earnings per share: Payout ratio = x 100A payout ratio greater than 1 means the company is paying out more in dividends for the year than it earned. Dividends are paid in cash. On the other hand, earnings are an accountancy measure and do not represent the actual cash-flow of a company.
Hence, a more liquidity-driven way to determine the dividend’s safety is to replace earnings by free cash flow. The free cash flow represents the company’s available cash based on its operating business after investments: Payout Ratio = x 100 A dividend, declared must be approved by a company's board of directors before it is paid. For public companies, four dates are relevant regarding dividends:Declaration date — the day the board of directors announces its intention to pay a dividend. On that day, a liability is created and the company records that liability on its books. In-dividend date — the last day, one trading day before the ex-dividend date, where the stock is said to be cum dividend. In other words, existing holders of the stock and anyone who buys it on this day will receive the dividend, whereas any holders selling the stock lose their right to t
William Randolph Hearst
William Randolph Hearst Sr. was an American businessman, newspaper publisher, politician known for developing the nation's largest newspaper chain and media company, Hearst Communications. His flamboyant methods of yellow journalism influenced the nation's popular media by emphasizing sensationalism and human interest stories. Hearst entered the publishing business in 1887 with Mitchell Trubitt after being given control of The San Francisco Examiner by his wealthy father. Moving to New York City, Hearst acquired the New York Journal and fought a bitter circulation war with Joseph Pulitzer's New York World. Hearst sold papers by printing giant headlines over lurid stories featuring crime, corruption and innuendo. Acquiring more newspapers, Hearst created a chain that numbered nearly 30 papers in major American cities at its peak, he expanded to magazines, creating the largest newspaper and magazine business in the world. Hearst controlled the editorial positions and coverage of political news in all his papers and magazines, thereby published his personal views.
He sensationalized Spanish atrocities in Cuba while calling for war in 1898 against Spain. He was twice elected as a Democrat to the U. S. House of Representatives, he ran unsuccessfully for President of the United States in 1904, Mayor of New York City in 1905 and 1909, for Governor of New York in 1906. During his political career, he espoused views associated with the left wing of the Progressive Movement, claiming to speak on behalf of the working class. After 1918 and the end of the Great War, Hearst began adopting more conservative views, started promoting an isolationist foreign policy to avoid any more entanglement in what he regarded as corrupt European affairs, he was at once a militant nationalist, a fierce anti-communist after the Russian Revolution, suspicious of the League of Nations and of the British, French and Russians. He was a leading supporter of Franklin D. Roosevelt in 1932–34, but broke with FDR and became his most prominent enemy on the right. Hearst's empire reached a peak circulation of 20 million readers a day in the mid-1930s.
He was a bad manager of finances and so in debt during the Great Depression that most of his assets had to be liquidated in the late 1930s. Hearst managed to keep his magazines, his life story was the main inspiration for Charles Foster Kane, the lead character in Orson Welles's film Citizen Kane. His Hearst Castle, constructed on a hill overlooking the Pacific Ocean near San Simeon, has been preserved as a State Historical Monument and is designated as a National Historic Landmark. William R. Hearst was born in San Francisco to George Hearst, a millionaire mining engineer, owner of gold and other mines through his corporation, his much younger wife Phoebe Apperson Hearst, from a small town in Missouri; the elder Hearst entered politics, served as a US Senator, first appointed for a brief period in 1886 elected that year. He served from 1887 to his death in 1891, his paternal great-grandfather was John Hearst of Ulster Protestant origin. John Hearst, with his wife and six children, migrated to America from Ballybay, County Monaghan, Ireland, as part of the Cahans Exodus in 1766, settled in South Carolina.
Their immigration to South Carolina was spurred in part by the colonial government's policy that encouraged the immigration of Irish Protestants, many of Scots origin. The names "John Hearse" and "John Hearse Jr." appear on the council records of October 26, 1766, being credited with meriting 400 and 100 acres of land on the Long Canes, based upon 100 acres to heads of household and 50 acres for each dependent of a Protestant immigrant. The "Hearse" spelling of the family name never was used afterward by the family members themselves, or any family of any size. A separate theory purports that one branch of a "Hurst" family of Virginia moved to South Carolina at about the same time and changed the spelling of its surname of over a century to that of the immigrant Hearsts. Hearst's mother, née Phoebe Elizabeth Apperson, was of Scots-Irish ancestry, she was appointed as the first woman regent of University of California, donated funds to establish libraries at several universities, funded many anthropological expeditions, founded the Phoebe A. Hearst Museum of Anthropology.
Hearst attended prep school at St. Paul's School in New Hampshire, he enrolled in the Harvard College class of 1885. While there he was a member of Delta Kappa Epsilon, the A. D. Club, the Hasty Pudding Theatricals, of the Lampoon before being expelled, his antics had ranged from sponsoring massive beer parties in Harvard Square to sending pudding pots used as chamber pots to his professors. Searching for an occupation, in 1887 Hearst took over management of his father's newspaper, the San Francisco Examiner, which his father had acquired in 1880 as repayment for a gambling debt. Giving his paper a grand motto, "Monarch of the Dailies," William R. Hearst acquired the best equipment and the most talented writers of the time, including Ambrose Bierce, Mark Twain, Jack London, political cartoonist Homer Davenport. A self-proclaimed populist, Hearst reported accounts of municipal and financial corruption attacking companies in which his own family held an interest. Within a few years, his paper dominated the San Francisco market.
Early in his career at the San Francisco Examiner, Hearst envisioned running a large newspaper chain, "always knew that his dream of a nation-spanning, multi-paper