73-736: Nationalization ( nationalisation in British English ) is the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state . Nationalization contrasts with privatization and with demutualization . When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization . Industries often subject to nationalization include telecommunications , electric power , fossil fuels , railways , airlines , iron ore , media , postal services , banks , and water (sometimes called
146-445: A stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( listed company ), which facilitates the trade of shares, or not ( unlisted public company ). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are private enterprises in the private sector, and "public" emphasizes their reporting and trading on
219-559: A century as Received Pronunciation (RP). However, due to language evolution and changing social trends, some linguists argue that RP is losing prestige or has been replaced by another accent, one that the linguist Geoff Lindsey for instance calls Standard Southern British English. Others suggest that more regionally-oriented standard accents are emerging in England. Even in Scotland and Northern Ireland, RP exerts little influence in
292-440: A company they perceive as possibly lacking liquidity. For example, if all shareholders were to simultaneously try to sell their shares in the open market, this would immediately create downward pressure on the price for which the share is traded unless there were an equal number of buyers willing to purchase the security at the price the sellers demand. So, sellers would have to either reduce their price or choose not to sell. Thus,
365-408: A different political party or faction is in power. A re-nationalization process may also be called "reverse privatization". Nationalization has been used to refer to either direct state-ownership and management of an enterprise or to a government acquiring a large controlling share of a publicly listed corporation . According to research by Paasha Mahdavi, leaders who consider nationalization face
438-479: A dilemma: "nationalize and reap immediate gains while risking future prosperity, or maintain private operations, thereby passing on revenue windfalls but securing long-term fiscal streams." He argues that leaders "nationalize extractive resources to extend the duration of their power" by using "this increased capital to secure political support." Nationalization can have positive and negative effects. In 2019 research based on studies from Greenwich University found that
511-425: A government to take property in certain situations. Due to political risks that are involved when countries engage in international business, it is important to understand the expropriation risks and laws within each of the countries in which business is conducted in order to understand the risks as an investor in that country. Studies have found that nationalization follows a cyclical trend. Nationalization rose in
584-508: A greater movement, normally [əʊ], [əʉ] or [əɨ]. Dropping a morphological grammatical number , in collective nouns , is stronger in British English than North American English. This is to treat them as plural when once grammatically singular, a perceived natural number prevails, especially when applying to institutional nouns and groups of people. The noun 'police', for example, undergoes this treatment: Police are investigating
657-406: A lesser class or social status and often discounted or considered of a low intelligence. Another contribution to the standardisation of British English was the introduction of the printing press to England in the mid-15th century. In doing so, William Caxton enabled a common language and spelling to be dispersed among the entirety of England at a much faster rate. Samuel Johnson's A Dictionary of
730-401: A long period of time after maturity into a profitable company. However, from 1997 to 2012, the number of corporations publicly traded on US stock exchanges dropped 45%. According to one observer ( Gerald F. Davis ), "public corporations have become less concentrated, less integrated, less interconnected at the top, shorter lived, less remunerative for average investors, and less prevalent since
803-659: A process called T-glottalisation . National media, being based in London, have seen the glottal stop spreading more widely than it once was in word endings, not being heard as "no [ʔ] " and bottle of water being heard as "bo [ʔ] le of wa [ʔ] er". It is still stigmatised when used at the beginning and central positions, such as later , while often has all but regained /t/ . Other consonants subject to this usage in Cockney English are p , as in pa [ʔ] er and k as in ba [ʔ] er. In most areas of England and Wales, outside
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#1732772390205876-484: A range of blurring and ambiguity". Variations exist in formal (both written and spoken) English in the United Kingdom. For example, the adjective wee is almost exclusively used in parts of Scotland, north-east England, Northern Ireland, Ireland, and occasionally Yorkshire , whereas the adjective little is predominant elsewhere. Nevertheless, there is a meaningful degree of uniformity in written English within
949-520: A regional accent or dialect. However, about 2% of Britons speak with an accent called Received Pronunciation (also called "the King's English", "Oxford English" and " BBC English" ), that is essentially region-less. It derives from a mixture of the Midlands and Southern dialects spoken in London in the early modern period. It is frequently used as a model for teaching English to foreign learners. In
1022-553: A separate entity, its former shareholders receiving compensation in the form of either cash, shares in the purchasing company or a combination of both. When the compensation is primarily shares then the deal is often considered a merger . Subsidiaries and joint ventures can also be created de novo . That often happens in the financial sector. Subsidiaries and joint ventures of publicly traded companies are not generally considered to be privately held companies (even though they themselves are not publicly traded) and are generally subject to
1095-545: A strategy to build socialism, more commonly nationalization was also undertaken and used to protect and develop industries perceived as being vital to a nation's competitiveness (such as aerospace and shipbuilding), or to protect jobs in certain industries. Nationalization has had varying levels of support throughout history. After the Second World War , nationalization was supported by social democratic and democratic socialist parties throughout Western Europe, such as
1168-466: Is a société anonyme (SA). In Germany , it is an Aktiengesellschaft (AG). While the general idea of a public company may be similar, differences are meaningful and are at the core of international law disputes with regard to industry and trade. Usually, the securities of a publicly traded company are owned by many investors while the shares of a privately held company are owned by relatively few shareholders. A company with many shareholders
1241-725: Is also due to London-centric influences. Examples of R-dropping are car and sugar , where the R is not pronounced. British dialects differ on the extent of diphthongisation of long vowels, with southern varieties extensively turning them into diphthongs, and with northern dialects normally preserving many of them. As a comparison, North American varieties could be said to be in-between. Long vowels /iː/ and /uː/ are usually preserved, and in several areas also /oː/ and /eː/, as in go and say (unlike other varieties of English, that change them to [oʊ] and [eɪ] respectively). Some areas go as far as not diphthongising medieval /iː/ and /uː/, that give rise to modern /aɪ/ and /aʊ/; that is, for example, in
1314-455: Is based on British English, but has more influence from American English , often grouped together due to their close proximity. British English, for example, is the closest English to Indian English, but Indian English has extra vocabulary and some English words are assigned different meanings. Public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on
1387-795: Is included in style guides issued by various publishers including The Times newspaper, the Oxford University Press and the Cambridge University Press . The Oxford University Press guidelines were originally drafted as a single broadsheet page by Horace Henry Hart, and were at the time (1893) the first guide of their type in English; they were gradually expanded and eventually published, first as Hart's Rules , and in 2002 as part of The Oxford Manual of Style . Comparable in authority and stature to The Chicago Manual of Style for published American English ,
1460-716: Is not necessarily a publicly traded company. Conversely, a publicly traded company typically (but not necessarily) has many shareholders. In the United States, companies with over 500 shareholders in some instances are required to report under the Securities Exchange Act of 1934 ; companies that report under the 1934 Act are generally deemed public companies. A public company possess some advantages over privately held businesses. Many stock exchanges require that publicly traded companies have their accounts regularly audited by outside auditors and then publish
1533-520: Is now northwest Germany and the northern Netherlands. The resident population at this time was generally speaking Common Brittonic —the insular variety of Continental Celtic , which was influenced by the Roman occupation. This group of languages ( Welsh , Cornish , Cumbric ) cohabited alongside English into the modern period, but due to their remoteness from the Germanic languages , influence on English
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#17327723902051606-408: Is privately held can buy out the shareholders of a public company, taking the company off the public markets. That is typically done through a leveraged buyout and occurs when the buyers believe the securities have been undervalued by investors. In some cases, public companies that are in severe financial distress may also approach a private company or companies to take over ownership and management of
1679-463: Is the case for English used by European Union institutions. In China, both British English and American English are taught. The UK government actively teaches and promotes English around the world and operates in over 200 countries . English is a West Germanic language that originated from the Anglo-Frisian dialects brought to Britain by Germanic settlers from various parts of what
1752-400: Is the seizure of private property by a public agency for a purpose deemed to be in the public interest. It may also be used as a penalty for criminal proceedings. Expropriation differs from eminent domain in that the property owner is not compensated for the seized property. Unlike eminent domain, expropriation may also refer to the taking of private property by a private entity authorized by
1825-404: Is when a company has little or no trading activity and the market price is simply the price at which the most recent trade took place, which could be days or weeks ago. This occurs when there are no buyers willing to purchase the securities at the price being offered by the sellers and there are no sellers willing to sell at the price the buyers are willing to pay. While this is rare when the company
1898-547: The Chambers Dictionary , and the Collins Dictionary record actual usage rather than attempting to prescribe it. In addition, vocabulary and usage change with time; words are freely borrowed from other languages and other varieties of English, and neologisms are frequent. For historical reasons dating back to the rise of London in the ninth century, the form of language spoken in London and
1971-658: The East Midlands became standard English within the Court, and ultimately became the basis for generally accepted use in the law, government, literature and education in Britain. The standardisation of British English is thought to be from both dialect levelling and a thought of social superiority. Speaking in the Standard dialect created class distinctions; those who did not speak the standard English would be considered of
2044-493: The Royal Spanish Academy with Spanish. Standard British English differs notably in certain vocabulary, grammar, and pronunciation features from standard American English and certain other standard English varieties around the world. British and American spelling also differ in minor ways. The accent, or pronunciation system, of standard British English, based in southeastern England, has been known for over
2117-490: The Scots language or Scottish Gaelic ). Each group includes a range of dialects, some markedly different from others. The various British dialects also differ in the words that they have borrowed from other languages. Around the middle of the 15th century, there were points where within the 5 major dialects there were almost 500 ways to spell the word though . Following its last major survey of English Dialects (1949–1950),
2190-573: The University of Leeds has started work on a new project. In May 2007 the Arts and Humanities Research Council awarded a grant to Leeds to study British regional dialects. The team are sifting through a large collection of examples of regional slang words and phrases turned up by the "Voices project" run by the BBC , in which they invited the public to send in examples of English still spoken throughout
2263-610: The West Country and other near-by counties of the UK, the consonant R is not pronounced if not followed by a vowel, lengthening the preceding vowel instead. This phenomenon is known as non-rhoticity . In these same areas, a tendency exists to insert an R between a word ending in a vowel and a next word beginning with a vowel. This is called the intrusive R . It could be understood as a merger, in that words that once ended in an R and words that did not are no longer treated differently. This
Nationalization - Misplaced Pages Continue
2336-451: The commanding heights of the economy ), and in many jurisdictions such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former owners . Nationalization is distinguished from property redistribution in that the government retains control of nationalized property . Some nationalizations take place when a government seizes property acquired illegally. For example, in 1945
2409-647: The 1960s and 1970s, followed by an increase in privatization in the 80s and 90s, followed again by an increase in nationalization in the 2000s and 2010s. The term appears as "expropriation of expropriators ( ruling classes )" in Marxist theory , and also as the slogan "Loot the looters!" ("грабь награбленное"), which was very popular during the Russian October Revolution . The term is also used to describe nationalization campaigns by communist states , such as dekulakization and collectivization in
2482-629: The 21st century. RP, while long established as the standard English accent around the globe due to the spread of the British Empire , is distinct from the standard English pronunciation in some parts of the world; most prominently, RP notably contrasts with standard North American accents. In the 21st century, dictionaries like the Oxford English Dictionary , the Longman Dictionary of Contemporary English ,
2555-480: The British Labour Party . In the United States, potentially nationalizing healthcare is often a topic of political disagreement and makes frequent appearances in debates between political candidates. A 2020 poll shows that a majority (63%) of Americans support a nationalized healthcare system. A re-nationalization occurs when state-owned assets are privatized and later nationalized again, often when
2628-836: The English Language (1755) was a large step in the English-language spelling reform , where the purification of language focused on standardising both speech and spelling. By the early 20th century, British authors had produced numerous books intended as guides to English grammar and usage, a few of which achieved sufficient acclaim to have remained in print for long periods and to have been reissued in new editions after some decades. These include, most notably of all, Fowler's Modern English Usage and The Complete Plain Words by Sir Ernest Gowers . Detailed guidance on many aspects of writing British English for publication
2701-454: The French government seized the car-maker Renault because its owners had collaborated with the 1940–1944 Nazi occupiers of France . In September 2021, Berliners voted to expropriate over 240,000 housing units , many of which were being held unoccupied as investment property. Economists distinguish between nationalization and socialization , which refers to the process of restructuring
2774-613: The Germanic schwein ) is the animal in the field bred by the occupied Anglo-Saxons and pork (like the French porc ) is the animal at the table eaten by the occupying Normans. Another example is the Anglo-Saxon cu meaning cow, and the French bœuf meaning beef. Cohabitation with the Scandinavians resulted in a significant grammatical simplification and lexical enrichment of the Anglo-Frisian core of English;
2847-922: The Oxford Manual is a fairly exhaustive standard for published British English that writers can turn to in the absence of specific guidance from their publishing house. British English is the basis of, and very similar to, Commonwealth English . Commonwealth English is English as spoken and written in the Commonwealth countries , though often with some local variation. This includes English spoken in Australia , Malta , New Zealand , Nigeria , and South Africa . It also includes South Asian English used in South Asia, in English varieties in Southeast Asia , and in parts of Africa. Canadian English
2920-712: The South East, there are significantly different accents; the Cockney accent spoken by some East Londoners is strikingly different from Received Pronunciation (RP). Cockney rhyming slang can be (and was initially intended to be) difficult for outsiders to understand, although the extent of its use is often somewhat exaggerated. Londoners speak with a mixture of accents, depending on ethnicity, neighbourhood, class, age, upbringing, and sundry other factors. Estuary English has been gaining prominence in recent decades: it has some features of RP and some of Cockney. Immigrants to
2993-550: The UK in recent decades have brought many more languages to the country and particularly to London. Surveys started in 1979 by the Inner London Education Authority discovered over 125 languages being spoken domestically by the families of the inner city's schoolchildren. Notably Multicultural London English , a sociolect that emerged in the late 20th century spoken mainly by young, working-class people in multicultural parts of London . Since
Nationalization - Misplaced Pages Continue
3066-513: The USSR . However, nationalization is not a specifically socialist strategy, and Marxism's founders were skeptical of its value. As Engels put it: Therein precisely lies the rub; for, so long as the propertied classes remain at the helm, nationalisation never abolishes exploitation but merely changes its form — in the French, American or Swiss republics no less than in monarchist Central, and despotic Eastern, Europe. Nikolai Bukharin also criticised
3139-576: The United Kingdom , as well as within the countries themselves. The major divisions are normally classified as English English (or English as spoken in England (which is itself broadly grouped into Southern English , West Country , East and West Midlands English and Northern English ), Northern Irish English (in Northern Ireland), Welsh English (not to be confused with the Welsh language ), and Scottish English (not to be confused with
3212-426: The United Kingdom, and this could be described by the term British English . The forms of spoken English, however, vary considerably more than in most other areas of the world where English is spoken and so a uniform concept of British English is more difficult to apply to the spoken language. Globally, countries that are former British colonies or members of the Commonwealth tend to follow British English, as
3285-465: The West Scottish accent. Phonological features characteristic of British English revolve around the pronunciation of the letter R, as well as the dental plosive T and some diphthongs specific to this dialect. Once regarded as a Cockney feature, in a number of forms of spoken British English, /t/ has become commonly realised as a glottal stop [ʔ] when it is in the intervocalic position, in
3358-470: The accounts to their shareholders. Besides the cost, that may make useful information available to competitors. Various other annual and quarterly reports are also required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements. The requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and
3431-488: The award of the grant in 2007, Leeds University stated: that they were "very pleased"—and indeed, "well chuffed"—at receiving their generous grant. He could, of course, have been "bostin" if he had come from the Black Country , or if he was a Scouser he would have been well "made up" over so many spondoolicks, because as a Geordie might say, £460,000 is a "canny load of chink". Most people in Britain speak with
3504-580: The collective dialects of English throughout the British Isles taken as a single umbrella variety, for instance additionally incorporating Scottish English , Welsh English , and Northern Irish English . Tom McArthur in the Oxford Guide to World English acknowledges that British English shares "all the ambiguities and tensions [with] the word 'British' and as a result can be used and interpreted in two ways, more broadly or more narrowly, within
3577-432: The company. One way of doing so would be to make a rights issue designed to enable the new investor to acquire a supermajority . With a supermajority, the company could then be relisted, or privatized. Alternatively, a publicly traded company may be purchased by one or more other publicly traded companies, with the target company becoming either a subsidiary or joint venture of the purchaser(s), or ceasing to exist as
3650-622: The country. The BBC Voices project also collected hundreds of news articles about how the British speak English from swearing through to items on language schools. This information will also be collated and analysed by Johnson's team both for content and for where it was reported. "Perhaps the most remarkable finding in the Voices study is that the English language is as diverse as ever, despite our increased mobility and constant exposure to other accents and dialects through TV and radio". When discussing
3723-407: The economic framework, organizational structure, and institutions of an economy on a socialist basis. By contrast, nationalization does not necessarily imply social ownership and the restructuring of the economic system . Historically, states have carried out nationalizations for various different purposes under a wide variety of different political systems and economic systems . Nationalization
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#17327723902053796-444: The firm's stock. For many years, newly-created companies were privately held but held initial public offering to become publicly traded company or to be acquired by another company if they became larger and more profitable or had promising prospects. More infrequently, some companies such as the investment banking firm Goldman Sachs and the logistics services provider United Parcel Service (UPS) chose to remain privately held for
3869-458: The idea of two different morphemes, one that causes the double negation, and one that is used for the point or the verb. Standard English in the United Kingdom, as in other English-speaking nations, is widely enforced in schools and by social norms for formal contexts but not by any singular authority; for instance, there is no institution equivalent to the Académie française with French or
3942-523: The last southern Midlands accent to use the broad "a" in words like bath or grass (i.e. barth or grarss ). Conversely crass or plastic use a slender "a". A few miles northwest in Leicestershire the slender "a" becomes more widespread generally. In the town of Corby , five miles (8 km) north, one can find Corbyite which, unlike the Kettering accent, is largely influenced by
4015-518: The later Norman occupation led to the grafting onto that Germanic core of a more elaborate layer of words from the Romance branch of the European languages. This Norman influence entered English largely through the courts and government. Thus, English developed into a "borrowing" language of great flexibility and with a huge vocabulary . Dialects and accents vary amongst the four countries of
4088-457: The mass internal migration to Northamptonshire in the 1940s and given its position between several major accent regions, it has become a source of various accent developments. In Northampton the older accent has been influenced by overspill Londoners. There is an accent known locally as the Kettering accent, which is a transitional accent between the East Midlands and East Anglian . It is
4161-766: The motivations of the nationalizing party. Nationalization was employed towards the Panama Canal by the Panamanian Government, which came under the Panama Canal Authority in 1999, to internationally positive effect. Likewise, the Suez Canal was nationalized multiple times throughout history. In Germany, the Federal Press [ Bundesdruckerei ] was nationalized in 2008 with positive revenue and net income since. Expropriation
4234-433: The nationalization of key services such as water, bus, railways and broadband in the United Kingdom could save £13bn every year. Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on
4307-425: The number of trades in a given period of time, commonly referred to as the "volume" is important when determining how well a company's market capitalization reflects true fair market value of the company as a whole. The higher the volume, the more the fair market value of the company is likely to be reflected by its market capitalization. Another example of the impact of volume on the accuracy of market capitalization
4380-729: The original founders or owners may lose benefits and control. The principal–agent problem , or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is especially prevalent in such countries as the United Kingdom and the United States. In the United States, the Securities and Exchange Commission requires firms whose stock is traded publicly to report their major shareholders each year. The reports identify all institutional shareholders (primarily firms that own stock in other companies), all company officials who own shares in their firm, and all individuals or institutions owning more than 5% of
4453-497: The price per share. For example, a company with two million shares outstanding and a price per share of US$ 40 has a market capitalization of US$ 80 million. However, a company's market capitalization should not be confused with the fair market value of the company as a whole since the price per share are influenced by other factors such as the volume of shares traded. Low trading volume can cause artificially low prices for securities, due to investors being apprehensive of investing in
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#17327723902054526-569: The public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States , for example, a public company is usually a type of corporation though a corporation need not be a public company. In the United Kingdom , it is usually a public limited company (plc). In France , it
4599-446: The same reporting requirements as publicly traded companies. Finally, shares in subsidiaries and joint ventures can be (re)-offered to the public at any time. Firms that are sold in this manner are called spin-outs . Most industrialized jurisdictions have enacted laws and regulations that detail the steps that prospective owners (public or private) must undertake if they wish to take over a publicly traded corporation. That often entails
4672-557: The term nationalisation , preferring the term statisation instead. |Fred Moseley]] in Dollars & Sense , January/February 2009 British English British English (abbreviations: BrE , en-GB , and BE ) is the set of varieties of the English language native to the United Kingdom of Great Britain and Northern Ireland . More narrowly, it can refer specifically to the English language in England , or, more broadly, to
4745-603: The theft of work tools worth £500 from a van at the Sprucefield park and ride car park in Lisburn. A football team can be treated likewise: Arsenal have lost just one of 20 home Premier League matches against Manchester City. This tendency can be observed in texts produced already in the 19th century. For example, Jane Austen , a British author, writes in Chapter 4 of Pride and Prejudice , published in 1813: All
4818-403: The traditional accent of Newcastle upon Tyne , 'out' will sound as 'oot', and in parts of Scotland and North-West England, 'my' will be pronounced as 'me'. Long vowels /iː/ and /uː/ are diphthongised to [ɪi] and [ʊu] respectively (or, more technically, [ʏʉ], with a raised tongue), so that ee and oo in feed and food are pronounced with a movement. The diphthong [oʊ] is also pronounced with
4891-428: The turn of the 21st century". Davis argues that technological changes such as the decline in price and increasing power, quality and flexibility of computer numerical control machines and newer digitally enabled tools such as 3D printing will lead to smaller and more local organization of production. In corporate privatization, more often called " going private ," a group of private investors or another company that
4964-568: The world are good and agreeable in your eyes. However, in Chapter 16, the grammatical number is used. The world is blinded by his fortune and consequence. Some dialects of British English use negative concords, also known as double negatives . Rather than changing a word or using a positive, words like nobody, not, nothing, and never would be used in the same sentence. While this does not occur in Standard English, it does occur in non-standard dialects. The double negation follows
5037-409: The would-be buyer(s) making a formal offer for each share of the company to shareholders. The shares of a publicly traded company are often traded on a stock exchange . The value or "size" of a company is called its market capitalization , a term which is often shortened to "market cap". This is calculated as the number of shares outstanding (as opposed to authorized but not necessarily issued) times
5110-526: Was notably limited . However, the degree of influence remains debated, and it has recently been argued that its grammatical influence accounts for the substantial innovations noted between English and the other West Germanic languages. Initially, Old English was a diverse group of dialects, reflecting the varied origins of the Anglo-Saxon kingdoms of England. One of these dialects, Late West Saxon , eventually came to dominate. The original Old English
5183-422: Was never a truly mixed language in the strictest sense of the word; mixed languages arise from the cohabitation of speakers of different languages, who develop a hybrid tongue for basic communication). The more idiomatic, concrete and descriptive English is, the more it is from Anglo-Saxon origins. The more intellectual and abstract English is, the more it contains Latin and French influences, e.g. swine (like
5256-435: Was one of the major mechanisms advocated by reformist socialists and social democrats for gradually transitioning to socialism. In this context, the goals of nationalization were to dispossess large capitalists, redirect the profits of industry to the public purse, and establish some form of workers' self-management as a precursor to the establishment of a socialist economic system. Although sometimes undertaken as part of
5329-532: Was then influenced by two waves of invasion: the first was by speakers of the Scandinavian branch of the Germanic family, who settled in parts of Britain in the eighth and ninth centuries; the second was the Normans in the 11th century, who spoke Old Norman and ultimately developed an English variety of this called Anglo-Norman . These two invasions caused English to become "mixed" to some degree (though it
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