FORESIGHT: A Business Approach to Improving Forensic Science Services
Abstract Managers of scientific laboratories see themselves as scientists first and managers second; consequently, they tend to devalue the managerial aspects of their jobs. Forensic laboratory managers are no different, but the stakes may be much higher given the importance of quality science to the criminal justice system. The need for training and support in forensic laboratory management has been recognized for many years, but little has been done to transition the tools of business to the forensic laboratory environment. FORESIGHT is a business-guided self-evaluation of forensic science laboratories across North America. The participating laboratories represent local, regional, state, and national agencies. Economics, accounting, finance, and forensic faculty provide assistance, guidance, and analysis. The process involves standardizing definitions for metrics to evaluate work processes, linking financial information to work tasks, and functions. Laboratory managers can then assess resource allocations, efficiencies, and value of services—the mission is to measure, preserve what works, and change what does not. A project of this magnitude for forensic laboratories has not been carried out anywhere.
Morphological identification of animal hairs: Myths and misconceptions, possibilities and pitfalls.
The examination of hair collected from crime scenes is an important and highly informative discipline relevant to many forensic investigations. However, the forensic identification of animal (non-human) hairs requires different skill sets and competencies to those required for human hair comparisons. The aim of this is paper is not only to highlight the intrinsic differences between forensic human hair comparison and forensic animal hair identification, but also discuss the utility and reliability of the two in the context of possibilities and pitfalls. It also addresses and dispels some of the more popular myths and misconceptions surrounding the microscopical examination of animal hairs. Furthermore, future directions of this discipline are explored through the proposal of recommendations for minimum standards for the morphological identification of animal hairs and the significance of the newly developed guidelines by SWGWILD is discussed.
The Impact of Inflation on ROE, Growth and Stock Prices
Using the constant growth dividend discount model (DDM), it can be shown that the critical factor which determines whether common stocks will be able to be an inflation hedge is the growth rate of dividends. In turn, the growth of dividends is mainly impacted by the aggregate return on equity (ROE). Using the DuPont formula it is clear that the main variable that drives the aggregate ROE is an inflationary environment is the profit margin. Following from this background, this article updates and extends an earlier analysis that involves an analysis of ROE and its components for the 40-year period 1956-1995. The analysis demonstrates that the aggregate ROE is currently at about the same level as in the 1960's, but the components have changes - i.e., there has been a decline in total asset turnover and profit margin, but a significant increase in financial leverage that has compensated for the declines in turnover and profit margin. It is further shown that there have been periods of high and low inflation since 1956 and the negative impact of inflation on the implied growth rate is confirmed, which helps explain why investigators find consistent empirical results that common stock are poor inflation hedges.