Economic Analysis of Patented Drugs vs. Generic Drugs Research Paper

Economic Analysis of Patented Drugs vs. Generic Drugs - Research Paper Example As for example, phenytoin which is the common name and Dilantin is the business name for a single drug. When one drug is in rights security, the company sells it with its business name. When a drug is out of the patent protection (no longer protected by patent), the company may sell the products under whichever name they want common name or business name. Other companies which file for authorization to sell that off-patent drug have to use the similar common name but have the freedom to use their own trade name. This results in drugs to be sold in the same generic name but multiple trade names. (Aronsson et al. 2001) General drugs are remedies that are known by the chemical formulae instead of their brand, or business name. Most of the people, as for example, know the brand title Valium, however the common name of the anxiety defiant drug is diazepam. (Mehta & Mehta, 1997) In the most cases, most drugs are likewise as efficient as brand-name remedies. They too are typically lesser ex pensive than the brand names, frequently as a great deal as 50 % or more. What is the reason behind this? (Mehta & Mehta, 1997; Aronsson et al. Pharmaceutical industries spend a lot of time (usually a decade or more) and cash—generally more money than $300 million—to research, develop, produce, and marketing a brand new drug. Which results in, if the efforts become positive, the brand-name drug which is patented plus sold solely under a particular business name for seventeen years, which permits the industry get back more money than it invested. As a patent runs out, or there is not any patent at all, other industries can produce and market that drug with the drug’s common name or with other brand names. ... As a patent runs out, or there is not any patent at all, other industries can produce and market that drug with the drug’s common name or with other brand names. Other industries don’t need to invest the time and wealth to get the actual drug to the market. Therefore, they can sell the drug at a lower cost. (Mehta & Mehta, 1997; Aronsson et al., 2001) Economic analysis of patent protection versus generic drugs: The limit of the patent security in helping the mechanisms for making novel remedies not supposed to be minimized. To get a fresh prescription remedy in the market, industries of pharmaceutics must beat several obstacles including large investments for researching and development (R&D), authoritarian scrutiny very importantly scientific trustworthiness corresponding the protection and effectiveness of that fresh drug. To attain this, companies continuously search for fresh compounds having medicinal power. When a brand new, hopeful substance is found, the industr y files a request for patent security while it goes through different levels of Research and Development. Current estimations of the expense of developing a fresh drug is ranged between $230 million and $500 million prior to the remedy can be marketed. (Mehta & Mehta, 1997) Getting patent security for a particular remedy, the industry has the power to set the price as per wish; without contest, no descending pressure is there upon the price from different probable drug providers. The monopoly supremacy gained from that patent protection gives inducement for drug industries to put in a big capital needed for Research and Development by permitting them in earning much more than the possible result in more contesting market. With no

Laser Eye Surgery Essay Example for Free

Laser Eye Surgery Essay Laser eye surgery has enabled millions of people to throw away their eyeglasses. Now several medical technology companies are hoping that lasers aimed at the feet will allow millions to take their socks off, even in public. The target is toenail fungus — an infection in an estimated 10 percent of American adults, or 23 million people — that causes toenails to become thick, yellow and fetid. If these lasers, which recently completed small clinical trials, work, they will represent a new way to treat nail infection by selectively irradiating fungi while leaving the nail and surrounding tissue intact. Right now, there is no sure cure. The fungi are so hardy that popular antifungal pills, which carry a small risk of liver damage, are completely successful less than half of the time. And a prescription lacquer, painted on the toenails daily for 48 weeks, has a complete cure rate of less than 10 percent. Pharmaceutical giants like Schering-Plough and Novartis are developing new lacquers, pills and ointments to battle the fungi. But some podiatrists and patients are pinning their hopes on the experimental laser treatments. Nomir Medical Technologies in Waltham, Mass., is developing a laser called Noveon for diseases like antibiotic-resistant staph infections as well as nail afflictions. Noveon is a type of laser already commonly used by doctors for treatments like cataract surgery, dental work and even hair removal. Noveon beams two different wavelengths of near-infrared light at toenails to selectively take aim at and kill fungi. After four treatments with Noveon, about half of the 39 toenails tested no longer had active nail infections, according to the results of a clinical trial that the company presented this month at a national dermatology  meeting. Six months after the initial treatment, about 76 percent of the volunteers had clear nail growth, the study reported. â€Å"We will be able to reach people who have heretofore stayed away from treatment because of the toxicity or the costs or other reasons,† said Richard F. Burtt, Nomir’s chief executive. Mr. Burtt said the company was preparing to submit the data to the Food and Drug Administration, hoping to receive clearance to market Noveon by this fall. The agency has already cleared Noveon for use on the skin and in nasal passages. But the company is not taking orders for or distributing the laser for nails until it receives specific permission to do so, Mr. Burtt said. Another company developing a laser, PathoLase, is so eager to get a piece of the billion-dollar-plus market for antifungal nail treatments that it has not waited for federal permission to begin marketing its device, the PinPointe Footlaser, for use on toenail fungus. Nearly 70 podiatrists in 21 states already offer PinPointe, according to PathoLase. The treatment, which is not covered by health insurance, costs $1,000 or more. The F.D.A. requires manufacturers to wait for federal clearance before marketing a medical device for specific uses. But PathoLase appears to have jumped the gun in the war on spores. Last week, a news broadcast by a Fox affiliate in Manhattan featured PinPointe as the latest thing for nail disorders. Dr. Stuart J. Mogul, a podiatrist in Manhattan who demonstrated the laser during the broadcast, said he had recently treated four patients with PinPointe at a cost of $1,200 each. He said it was too soon to tell whether the treatment had worked. â€Å"I explain to patients that the only risk is financial,† Dr. Mogul said in an interview last week. He added that representatives of PathoLase had told him that the F.D.A. had  approved the laser as being safe. Up until Tuesday, PinPointe’s Web site promoted the toenail laser as â€Å"F.D.A. cleared† and included an endorsement from a podiatrist in California saying he had used the device for six months on 225 patients. Because the F.D.A. cleared the device in 2001 for use in dentistry, doctors are free to use it for other purposes, John Strisower, the chief executive of PathoLase, said in an interview on Monday. Technically, the F.D.A. does not regulate the practice of medicine, so doctors are indeed able to use approved drugs and devices for unapproved purposes when they deem it appropriate.

World War I Essay -- Trench Warfare

World War I was a stalemate right from the outbreak of the war as a result of trench warfare. With the introduction of this system, a piece of land stretching from the Belgian coast, through France, and ending in Switzerland, became the venue for majority of the conflict. For almost three years, this line shifted by no more than a few hundred yards. All of this changed when the United States joined the war and prompted Germany to make an all-out drive on the Allies so as to end the war before the American Army reached full strength on the battlefield. The American Expeditionary Force allowed the Allies to take the offensive, thereby ending the static state of war that had settled on the Western Front as a result of trench warfare. The system of trench warfare had men facing each other across opposing lines dug into the ground. The purpose of digging trenches was purely a matter of survival. In a war where technology was the worst enemy, trenches were a must. Following the Battle of Somme in 1916 where casualties exceeded one million, the High Command on both sides of the war learned of the desperate need for trenches. The first trenches, as Albert Marrin describes in The Yanks are Coming, were â€Å"not mere slits in the ground.† Each trench system was composed of line upon line of trenches. Most trench systems were composed of three trenches. In case of an attack, there was usually another trench to provide defense if the forward trench was taken by the enemy. Smaller communication trenches linked each of the major trench lines (Marrin 80). The most memorable feature of any trench line was actually the land in between. This land was known as no-man’s land. No man's land varied extremely in length. There were extremes at both ends... ... of losing at which point the Americans entered the fray. The final act that broke this deadlock was the defeat of the Germans at Belleau Wood by the Americans. In doing this, they brought a sense of newfound desire and energy on the Allied part. For the Germans, the Americans represented a force to be reckoned with. The American Army brought the â€Å"fight† back to the soldiers in the trenches. Captain Lloyd Williams of the Marines was a prime example of this spirit. When asked by the French if he wanted to retreat, he replied: â€Å"Retreat? Hell we just got here.† (qtd. Antill, Dougdale-Pointon, and Rickard). As a German soldier noted, â€Å"The American . . . had nerve; we must give him credit for that; but he also displayed a savage ruthlessness. 'The Americans kill everybody' was a cry of terror. . . which for a long time stuck in the bones of our men. " (qtd. Bonk 91)

All Romances end in Marriage Essay

By this time Bathsheba was in love with Troy or believed she was. Troy also thought he was in love yet it was only infatuation. â€Å"Bathsheba loved Troy in the way that only self-reliant women love when they abandon their self-reliance† This shows that Bathsheba has given up her independence that she relied on in the past for the love of Troy. Hardy changes the character of Bathsheba slightly by falling in love with Troy as she now has given up one of her qualities that she relied on, her independence. Hardy’s readers can see that Bathsheba has changed for love as she is has wrongly fallen in love with Troy. Hardy’s readers know this is wrong and in time things will change, as this is not the cause of true love. Bathsheba and Troy eventually get married and that is when the romance begins to end. The two become less infatuated with each other and start to become bitter. When Troy, Bathsheba and her workforce are celebrating there marriage Troy gets rid of all the women and gets drunk with all the men. Meanwhile Gabriel is outside all night in the storm trying to save the harvest. Bathsheba is greatly thankful for what he has done â€Å"Thank you for your devotion a thousand times Gabriel! † Hardy shows yet again that Gabriel is the right man for Bathsheba through his loyalty, devotion and general good and decent nature. The reader knows that Bathsheba is with the wrong man and hopefully it is only a matter of time before her and Gabriel get together. When it is discovered that Fanny is dead, Gabriel is the first to look at the coffin and notices that it says â€Å"Fanny Robbin and child† Gabriel rubs out and child as he knows the child is Troy’s and he does not want her to get hurt as he cares for her. Liddy then informs Bathsheba that there is a rumour going about Weatherbury â€Å"I mean that a wicked story is got to Weatherbury within this last hour-that-that there’s two of’em in there† Bathsheba’s curiosity overwhelms her and she decides to open the coffin. Hardy then uses poetry to tell the reader that there is a baby there â€Å"A curious frame of natures work, A flow’ ret crushed in the bud, A nameless piece of babyhood,† When Troy comes in and discovers that Fanny is dead he kisses her and the baby. Bathsheba begs Troy to kiss her which shows her insecurity as she gave up her independence for him and now she wants to rely on but she knows that he still loves her. After he says â€Å"you are nothing to me† she runs out. Hardy has finally shown the true character of Troy. He is an incredibly nasty person to say this to his wife and now the reader knows it. The way he has treated Bathsheba all this time is unforgivable. Although Hardy has portrayed him as this malicious character he has proved that he did love Fanny and did not just use her for sexual pleasure. Troy eventually decides to get away from everything and fakes his own death. This is where Boldwood comes in to play again. He is still obsessively in love with Bathsheba and in doing so his farm is doing very badly. He makes a proposal to Bathsheba of marrying him in six years after Troy is officially declared dead. â€Å"Well then, do you know that without further proof of any kind you may marry again in about six years from the present- subject to nobody’s objection or blame? † Boldwood forces this offer upon Bathsheba and in the end she has to say that she will give him an answer at he Christmas party. Bathsheba. Although she believes her husband to be dead she does not have along time in which she would cease to do things due to bereavement, she carries on and is cool and level headed. This shows yet again how she is in comparison with other women in the 19th century. Normally she would be expected to bereave, it would be her role but not Bathsheba she is different and more modern than other women. During the Christmas party Boldwood asked Bathsheba for her answer and she reluctantly said yes â€Å"Very well. I’ll marry you in six years from this day if we both live,† Boldwood was delighted and he then gave her a ring, which she was forced, to where for that night. Soon after they got back to the party Hardy brought a great thrill to the novel as Troy showed up to the party, cloaked. When Troy tried to grab Bathsheba, Boldwood shot him dead. With Troy dead and Boldwood in prison the reader now knows that Hardy has left a big opening for Bathsheba’s heart. The only man left and the most decent man is Gabriel Oak. Finally Hardy gives the readers what they have wanted through out the whole novel. Gabriel asks Bathsheba to marry her and she accepts, they are soon married and the novel ends happily. Throughout this novel Hardy has shown three different types of love, obsessive, infatuation and true love. Hardy is trying to say that there are many types of love, some are not real but there is one type that is real and that is true love. True love being the type of love where you love the person for who they are not just what they look like. Hardy also shows that Bathsheba resembles a 20th century woman more than a 19th century woman. She is modern and she is very independent. Her independence is one of her main qualities along with her vanity, which slowly faded away.

How democratic was Andrew Jackson? Essay

Andrew Jackson may have been the most popular president in the history of United States. Andrew Jackson was elected as a president for his democracy and he was still getting votes from electors fifteen years after he died. But was Andrew Jackson democratic at all? He didn’t democratically act in a lot of circumstances like being partial to the poor, not paying attention to the Native Americans or not listening to Van Buren that caused a big scandal in society. Jackson was born in 1767 on the border between North and South Carolina. He was a kid with a wild streak that grew up in a poor family. His childhood was so dramatic and full of events that they made him be brave and experienced in situations. Jackson was voted for the presidency in 1828 and was reelected in 1832. He was said to create a new era of real democracy in America. But like other men, Jackson was not democratic at all and he was also claimed as behaving more like the king. First of all, Andrew Jackson was not democratic because he gave more power to the poor and seemed to be partial to them. While it was democratic that he tried to balance the power between the rich and the poor but in this circumstance, he totally took down the rich. In Document 3 which is a political cartoon, Jackson holds a veto in the left hand and a scepter in the right and tramples on the Federal Constitution and The United States Bank. It was said that Jackson was fear on the rich and powerful who may cheat the acts of government to their own selfish benefits so he vetoes the Congress’s bill to recharger the Bank in July in 1832 and removes the deposit. In fact, Jackson was doing more damage to the bank and he biased against the wealthy men in command. He may have little or no trust in what the Congress and government had deemed to be in the country best interest. In Document 5, Jackson â€Å"inflame the poor against the rich†, The rich and powerful are also People but Jackson didn’t listen to and follow their wishes. That was not democratic. In Document 2, Daniel Webster compliments that Andrew Jackson was democratic. It seemed to be contrary to his reply to Andrew’s Bank veto that Daniel totally criticizes Andrew for turning against the rich. But we can see that Webster claimed that: â€Å"Jackson was the hero of the dirt farmer.† It supported that Andrew Jackson is so partial to the poor and just stand for their sides. Jackson did have democratic ideas but his ideas didn’t actually benefit all people. This was undemocratic as it didn’t benefit all people that he took the rich down and just cared for the low class. Additionally, Jackson also acts undemocratically that he didn’t include the Native Americans. In Document 3, Andrew looks like a king although he is president because of not taking care of the Native Americans and some tribes. Since a president takes to care for all people, Jackson just cares of part of them and abuse for his power and acts only in his best interests. Based on Document 8, Jackson persuaded the Native American but actually forced them and some tribes to west of the Mississippi. It means that he kicked them out of U.S. Jackson was not democratic because he moves them to such useless land as the land was ruined and poor. Despite looking to the citizens of U.S. well, Jackson wasn’t paying attention to the suffering that he was inflicting on Native Americans. This one side shows that Jackson was not a democratic president as many people think he was. The pinnacle of being undemocratic of Jackson was in Document 7, â€Å"Jackson refused to listen. He liked Swartwout because he had been an early supporter.† Jackson appointed Samuel to the office of the collector of Port of New York instead of Buren because Swartwout was offered by people more than Van. It is contrary to his democracy of following people’s wishes that he didn’t listen to Buren. Andrew went against all reason and showed a great lack of good judgment when he appointed one of his homies who is a notorious thief. Since Samuel was in office, there was a scandal that â€Å" Swartwout absconded with $1222705.09. It was a monumental theft†¦Ã¢â‚¬  This ended up hurting the country economically and totally affected the common goods. This selfish act was a foolish one. Although Andrew Jackson, as I stated, was an undemocratic president, he was still kind and compassionate and still has little democracy. Based on Document 11, Jackson adopted a child and took care of him. He wrote letters to his wife that he would adopt an Indian son, Lynconya, â€Å"I send him to my little Andrew and I hope he will adopt him as one of our family. And the letter on December 28th, 1823, Jackson wrote that â€Å"Tell Lyncoya to read his book and be a good boy and obey you in all things.† We can see, Jackson was still democratic as he adopted an Indian boy and also buried him in the family cemetery when he died at age 14. Throughout Jackson’s life and his presidency and with the above evidence, Andrew Jackson was not a democratic president at all. He unfairly acted in several circumstances but he was also democratic and kind of adopting an Indian boy. I conclude Andrew Jackson was not as democratic as many people thought he was. His action towards people didn’t benefit everyone.

ACT Test Results How to Get and Interpret Your Results

ACT Test Results How to Get and Interpret Your Results SAT / ACT Prep Online Guides and Tips If you took the ACT recently, you’re probably eager to see how you did so you can send your scores to colleges or prepare for the next test date. But how do you get your score report, and what’s the best way to interpret your scores? In this article, I’ll go through how and when you can get your report, what’s on it, and how to get the most out of the information you’re given. How Do I Get My ACT Scores? Your multiple choice scores will be available online in your ACT Web Account about two weeks after you take the ACT.If you took Writing, those scores are available about two weeks after your multiple choice scores (so four weeks, give or take, after the test).The ACT says score reports are usually available 2-8 weeks after the test, which seems like a huge window. They're just trying to account for weird circumstances that sometimes cause scores to take longer, like an irregularity at your test center or answer documents from your test center arriving late. Barring anything out of the ordinary, you should expect to see your scores online no later than four weeks after the ACT.After this point, you can start sending them to schools. Unfortunately, there isno way to speed up the actual scoring process; you can only use rush reporting to send scores to colleges after your scores are released. What Will Be on My ACT Score Report? The first thing you’ll see on your score report is your composite score. This is the large number on the top left in the box labeled â€Å"Your ACT Scores†.You’ll also get a set of percentages with your composite score.These percentages give you your score percentile as compared to students in your state (the first bar) and in the US as a whole (the second bar). It's the percentage of students who were at or below your score level on the test. Next, you’ll see your scores broken down by section. English is split into two categories of questions: Usage/Mechanics and Rhetorical Skills Math is split into three categories of questions: Pre-Algebra/Elementary Algebra, Algebra/Coordinate Geometry, and Plane Geometry/Trigonometry Reading is split into two categories of questions: Social Studies/Sciences and Arts/Literature Science doesn’t have any breakdown of categories. It just lists one score for the whole section. For English, Math, and Reading, you'll see a score for each section and then scores for the categories beneath the sections (for Science there's only the one complete score).For each test section score and question category score you'll also see a bar that shows you your score percentile. The question category subscores can range from 1-18, and the test section scores range from 1-36 just like your full composite score.Note that the scores you see for the categories under each test section score don't necessarily add up to the section score. Your Writing score will be listed below all of these scores if you took the ACT with Writing.This score is reported on a scale of 2-12 (starting with the September 2016 ACT). There are four domain categories below the Writing score, each of which is also scored from 2-12. The ACT averages these scores to arrive at your final score out of 12. Just like with the other sections, you'll see percentile bars next to each of these scores to indicate how you compare to other students. Below your main scores, you'll see an "ELA score" and a "STEM score." The ELA score is the average of your English, Reading, and Writing (converted to a value out of 36) scores. The STEM score is the average of your Math and Science scores. Both of these are recorded on a scale of 1-36. Consult the ACT websiteto see an example of what a real score report looks like. What Do I Do With This Information From My ACT Results? So you have all these numbers, but who cares? How can they help you do better next time?If you know where your weak spots lie, it’s going to be much easier to focus your studying.Here are a couple examples of actions you might take based on what you see on your score report: Case #1: You Aced Algebra But Missed a Lot of Trigonometry Questions This indicates that you have a content-based problem with trigonometry. Maybe you didn’t know all the formulas or you're not familiar with the best strategies to solve these types of problems.Review all the formulas you need to know for ACT Math as related to trigonometry. Also review what’s tested on ACT Math, and make sure you’re familiar with all the material. If you see something you feel shaky on, try some practice questions for that topic.Look intothese strategies for improving your math performance as well. Case #2: You Did Well on English, But your Writing Score Was Low The essay can be one of the toughest aspects of the ACT, especially because it comes at the end of the test when you’re tired already. Though the ELA subscore doesn't affect your overall ACT score, many top colleges are still interested in your performance on the essay. If you had trouble with the essay, take a look at these tips for improving your score.Since you did well on the English section, you probably don’t have a problem with grammar and sentence structure. You might just need to work on organizing your thoughts better overall and providing better examples to support your argument. Case #3: You Struggled with Science and Reading If you had issues with these sections, it probably means you need to work on reading passages more efficiently and interpreting them correctly.Check out these strategies for bothscience passages and reading passages.The Science and Reading sections actually require similar skills, namely skimming over information and making fast-paced judgments about the content. If you think the time constraints caused you to miss questions, review these strategies for time management on both sections. Experiment with different strategies for approaching ACT science passages...heh A Final Word on Score Reports Your score report is a helpful study tool that will give you more information about areas on the test where you need to make improvements.It might also be a good idea to order Test Information Release for the ACT, which provides a more in-depth look at your scores and the specific questions you missed. Read more about this service here. Compare your score report to your target scores so you can see how much you need to study before the next test! What's Next? If you're trying to figure out when you should take the ACT again, use this guide to find out which test date is right for you. Check out these study plans to get an idea of how you might plan out your prep in advance of the next test date. Frustrated with your score? Learn how to get a perfect 36 on the ACT, and check out these more detailed guides on doing well on ACT English, Math, Reading, and Science. Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically. Have friends who also need help with test prep? Share this article! Tweet Samantha Lindsay About the Author Samantha is a blog content writer for PrepScholar. Her goal is to help students adopt a less stressful view of standardized testing and other academic challenges through her articles. Samantha is also passionate about art and graduated with honors from Dartmouth College as a Studio Art major in 2014. In high school, she earned a 2400 on the SAT, 5's on all seven of her AP tests, and was named a National Merit Scholar. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. 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Free Essays on Aviation Finance

In the past few years, we have been able to see the near demise of some of the world’s largest airlines. However at the other end of the table sit such sound companies as Jet Blue and Southwest. The mere existence of such companies proves that airline carriers can be viable business entities. Troubled airlines such as United Airlines and American Airlines can see brighter skies in the future, by minimizing costs and maximizing revenues. Nevertheless, lowering costs and raising revenues cannot effectively fix the struggling airlines problems if the airlines are not able to operate in a free market environment. The airline industry is a service industry. The airlines are in the business of transporting people and their belongings as well as products. The major characteristics of the industry include the following: capital intensive, high cash flows, labor intensive, highly unionized, and seasonal. These characteristics are the cause of the industry’s then profit margin. In fact â€Å"airlines, through the years, have earned a net profit between one and two percent, compared to an average of above five percent for U.S. industry’s as a whole†. Due to the industry’s thin profit margin, it comes as no surprise that the history of airlines has been a rocky one. The airline industry has been for the most part profitable for the last sixty years. However a thin profit margin has been a major problem throughout the industry’s history. The majority of the airlines are unable to profitably deal with extreme economic events such as depression, recession, war, and of course the September 11 attacks. Furthermore they are unable to profitably deal with changes in the industry such as, the government deregulation that occurred in the late 70’s and early 80’s. The results of such events are larger than average declines in profit compared to higher profit margin industries. This fact can be seen in the annual reports publish... Free Essays on Aviation Finance Free Essays on Aviation Finance In the past few years, we have been able to see the near demise of some of the world’s largest airlines. However at the other end of the table sit such sound companies as Jet Blue and Southwest. The mere existence of such companies proves that airline carriers can be viable business entities. Troubled airlines such as United Airlines and American Airlines can see brighter skies in the future, by minimizing costs and maximizing revenues. Nevertheless, lowering costs and raising revenues cannot effectively fix the struggling airlines problems if the airlines are not able to operate in a free market environment. The airline industry is a service industry. The airlines are in the business of transporting people and their belongings as well as products. The major characteristics of the industry include the following: capital intensive, high cash flows, labor intensive, highly unionized, and seasonal. These characteristics are the cause of the industry’s then profit margin. In fact â€Å"airlines, through the years, have earned a net profit between one and two percent, compared to an average of above five percent for U.S. industry’s as a whole†. Due to the industry’s thin profit margin, it comes as no surprise that the history of airlines has been a rocky one. The airline industry has been for the most part profitable for the last sixty years. However a thin profit margin has been a major problem throughout the industry’s history. The majority of the airlines are unable to profitably deal with extreme economic events such as depression, recession, war, and of course the September 11 attacks. Furthermore they are unable to profitably deal with changes in the industry such as, the government deregulation that occurred in the late 70’s and early 80’s. The results of such events are larger than average declines in profit compared to higher profit margin industries. This fact can be seen in the annual reports publish...