Ultimate (sport)

Ultimate and known as ultimate frisbee, is a non-contact team sport played with a flying disc. Ultimate was developed in 1968 by a group of students at Columbia High School in Maplewood, New Jersey. Although Ultimate resembles many traditional sports in its athletic requirements, it is unlike most sports due to its focus on self-officiating at the highest levels of competition; the term frisbee used to generically describe all flying discs, is a registered trademark of the Wham-O toy company, thus the sport is not formally called "Ultimate frisbee", though this name is still in common casual use. Points are scored by passing the disc to a teammate in the opposing end zone. Other basic rules are that players must not take steps while holding the disc, interceptions, incomplete passes, passes out of bounds are turnovers. Rain, wind, or other adversities can make for a testing match with rapid turnovers, heightening the pressure of play. From its beginnings in the American counterculture of the late 1960s, ultimate has resisted empowering any referee with rule enforcement.

Instead it relies on the sportsmanship of players and invokes "Spirit of the Game" to maintain fair play. Players call their own fouls, dispute a foul only when they genuinely believe it did not occur. Playing without referees is the norm for league play but has been supplanted in club competition by the use of "observers" or "game advisors" to help in disputes, the professional league employs empowered referees. In 2012, there were 5.1 million Ultimate players in the United States. Ultimate is played across the world in pickup games and by recreational, club and national teams at various age levels and with open, women's, mixed divisions; the United States wins most of the world titles, but not all of them. US teams won four out of five divisions in 2014 world championship, all divisions in 2016 competitions between national teams. USA men won the 2017 beach world championships, but the Russian women's team ended the American previous undefeated streak by defeating team USA in the women's final.

I just remember one time running for a pass and leaping up in the air and just feeling the Frisbee making it into my hand and feeling the perfect synchrony and the joy of the moment, as I landed I said to myself,'This is the ultimate game. This is the ultimate game.' Team flying disc games using pie tins and cake pan lids were part of Amherst College student culture for decades before plastic discs were available. A similar two-hand, touch-football-based game was played at Kenyon College in Ohio starting in 1942. From 1965 or 1966 Jared Kass and fellow Amherst students Bob Fein, Richard Jacobson, Robert Marblestone, Steve Ward, Fred Hoxie, Gordon Murray, others evolved a team frisbee game based on concepts from American football and soccer; this game had some of the basics of modern Ultimate including scoring by passing over a goal line, advancing the disc by passing, no travelling with the disc, turnovers on interception or incomplete pass. Kass, an instructor and dorm advisor, taught this game to high school student Joel Silver during the summer of 1967 or 1968 at Northfield Mount Hermon School summer camp.

Joel Silver, along with fellow students Jonny Hines, Buzzy Hellring, others, further developed Ultimate beginning in 1968 at Columbia High School, New Jersey, USA. The first sanctioned game was played at CHS in 1968 between the student council and the student newspaper staff. Beginning the following year evening games were played in the glow of mercury-vapor lights on the school's student-designated parking lot. Players of Ultimate frisbee used a "Master" disc marketed by Wham-O, based on Fred Morrison's inspired "Pluto Platter" design. Hellring and Hines developed the first and second edition of "Rules of Ultimate Frisbee". In 1970 CHS defeated Millburn High 43–10 in the first interscholastic Ultimate game. CHS, three other New Jersey high schools made up the first conference of Ultimate teams beginning in 1971. Alumni of that first league took the game to their universities. Rutgers defeated Princeton 29–27 in 1972 in the first intercollegiate game; this game was played 103 years after the first intercollegiate American football game by the same teams at the same site, paved as a parking lot in the interim.

Rutgers won both games by an identical margin. Rutgers won the first Ultimate Frisbee tournament in 1975, hosted by Yale, with 8 college teams participating; that summer ultimate was introduced at the Second World Frisbee Championships at the Rose Bowl. This event introduced ultimate on the west coast of the USA. In 1975, ultimate was introduced at the Canadian Open Frisbee Championships in Toronto as a showcase event. Ultimate league play in Canada began in Toronto in 1979; the Toronto Ultimate Club is one of ultimate's oldest leagues. In January 1977 Wham-O introduced the World Class "80 Mold" 165 gram frisbee; this disc replaced the light and flimsy Master frisbee with much improved stability and consistency of throws in windy conditions. Throws like the flick and hammer were possible with greater control and accuracy with this sturdier disc; the 80 Mold was used in Ultimate tournaments after it was discontinued in 1983. Discraft, founded in the late 1970s by Jim Kenner in London, Ontario moved the company from Canada to its present location in Wixom, Michigan.

Discraft introduced the Ultrastar 175 gram disc in 1981, with an updated mold in 1983. This disc was adopted as the standard for Ultimate during the 1980s, with Wham-O holdouts frustrated by the

Charles G. Callard

Charles "Chuck" Gordon Callard was a prominent figure in the financial community due to his innovative application of mathematics and statistics to stock analysis. Born in Lansing, Michigan, he was a Corsair fighter pilot on an aircraft carrier while serving in the United States Navy during World War II. After his military service, Callard earned his MBA at the University of Chicago Graduate School of Business in 1943, he taught statistics at Miami University in Oxford, Ohio for several years. Callard worked as a securities analyst in Chicago, he held marketing and planning positions at Armour & Co. and Ball Brothers. In 1969, Callard started Callard, Madden & Associates; the insights that he developed became a bridge between academic finance and the worlds of corporate finance and asset management. Callard was the first in the inflationary 1970s to adjust standard accounting data so that they would conform with the financial concepts being developed at the Graduate School of Business, he recognized the flaws in the traditional accounting measures and developed alternative economic measures of corporate performance.

He used this approach to demonstrate that the effective corporate tax rates were much higher than the legislated rates and differed among firms that otherwise appeared to be subject to the same tax rates. One of Callard’s greatest contributions was to develop a systematic explanation of the cost of capital for individual firms; the cost of capital for all firms varied in response to changes in the national inflation rate and to changes in corporate tax rates. The cost of capital for individual firms was affected by the levels and the rates of growth of their anticipated profits and by the variability of their cash flows. A cost of capital could be assigned to each of the business units within a firm. Callard’s insights extended to capital structure. While each firm was a price-taker in the capital market, each could affect its aggregate cost of capital by altering the shares of debt and of equity in its capital structure; some firms were too extensively leveraged and could reduce their costs of capital by reducing the debt component of their capital structure while other firms could reduce their costs of capital by increasing the debt component.

Chuck Callard died in 2004. A group study room was dedicated in his memory at the Booth School of Business. Callard, Charles G.. "Inflation-Adjusted Accounting: Does it Matter?". Financial Analysts Journal. 41: 51–59. Doi:10.2469/faj.v41.n3.51. ISSN 0015-198X

British ensign

In British maritime law and custom, an ensign is the identifying flag flown to designate a British ship, either military or civilian. Such flags display the United Kingdom Union Flag in the canton, with either a red, white or blue field, dependent on whether the vessel is civilian, naval, or in a special category; these are known as the red and blue ensigns respectively. Outside the nautical sphere, ensigns are used to designate many other military units, government departments and administrative divisions; these flags are modelled on the red and blue naval ensigns, but may use different colours for the field, be defaced by the addition of a badge or symbol, for example the sky blue with concentric red and blue circles of the Royal Air Force ensign. The Union Flag should be flown as a jack by Royal Navy ships only when moored, at anchor, while underway and dressed with masthead ensigns, or if the Monarch or an Admiral of the Fleet is on board; the Union Flag may signal that a court martial is in progress.

The use of the Union Flag as an ensign on a civilian craft is still illegal since Charles I ordered it be restricted to His Majesty's ships "upon pain of Our high displeasure" in the 17th century due to its unauthorised use by merchant mariners to avoid paying harbour duties by passing themselves off as Royal vessels. British ensigns in use can be classified into five categories, in descending order of exclusivity: the White Ensign the Blue Ensign the Blue Ensign defaced the Red Ensign defaced the Red EnsignThe traditional order of seniority was red and blue, with the red as the senior ensign. Today's white ensign, as used by Royal Navy ships, incorporates the St George's Cross. British yachts owned by members of the Royal Yacht Squadron are authorised to apply for a permit to wear this ensign. Defaced white ensigns include that of the British Antarctic Territory. Since the reorganisation of the Royal Navy in 1864, use of the White Ensign has been restricted to ships, submarines and on-shore establishments of the Royal Navy.

The Royal Yacht Squadron fly the white ensign by special dispensation. The Blue Ensign undefaced is worn by masters of vessels in possession of a warrant issued by the Director of Naval Reserves, by the members of certain yacht clubs; such warrants are issued to officers in the active or retired lists of the Royal Naval Reserve and the maritime reserve forces of other Commonwealth realms and territories. The master must be of the rank of lieutenant RN or above, fishing vessels must be crewed by at least four other Royal Naval reservists or pensioners; the Ensign of the Sea Cadet Corps is a blue ensign defaced by the SCC badge. Under the terms of a Memorandum of Understanding with the Ministry of Defence, officers of the Sea Cadet Corps hold their ranks as RNR on a'nominal honorific' basis, are included on the Navy List as a courtesy. British government departments use a variety of blue ensigns defaced in the fly with the department badge, colonial governments use blue ensigns defaced with the colonial badge.

Other defaced ensigns were used by vessels of the Mersey Docks and Harbour Board, the Humber Conservancy, Custom House, the Board of Trade, Lloyd's of London, the Post Office, submarine cable laying ships, other departments including War Office Ordnance. The flag of Australia and those of its states as well as the flag of New Zealand are defaced blue ensigns. Several yacht clubs are entitled to fly blue ensigns defaced by their club badge; the Red Ensign defaced by a badge is flown by Trinity House and various organisations and yacht clubs. Merchant ships and private vessels registered in British territories and dependencies, in several Commonwealth realms, fly the Red Ensign defaced by the badge of their territory; the Red Ensign undefaced is for the use of all private craft. The Red Ensign is the correct flag to be worn as courtesy flag by foreign private vessels in United Kingdom waters. Merchant vessels from British overseas territories and Crown dependencies are entitled to red ensigns defaced with the badge of their territory.

The flag of the British East India Company, like the Cambridge or Grand Union Flag of the American colonies, had a red and white striped field. There were similar red-and-white and green-and-white striped ensigns in the English Navy in the 16th century. In flag plates from the 17th and 18th centuries there are representations of the Guinea Jack of the Royal Africa Company in various forms; the flag of Hawaii is a British ensign with a background of white and blue stripes. In existence is a Royal Air Force ensign and a civil air ensign, both of which have a sky-blue field, with the Union Flag in the canton; the RAF Ensign is defaced with the red-white-blue RAF roundel, while the field of the civil air ensign is charged with a large dark-blue cross fimbriated white. During World War II, the Belgian section of the RAF used a variant of RAF Ensign defaced with the black-yellow-red roundel; the flag of Tuvalu and that of Fiji are defaced sky blue ensigns. The white ensign of the commissioner of the Northern Lighthouse Board is unique in that it remains the only example of a pre-1801 Union Flag in official use today.

This flag is flown only from vessels with commissioners aboard. There are two "yellow" ensigns in use in the South Pacific, both f