title: Madras Presidency

text: The Land Improvement and Agriculturists Loan Act passed in 1884 provided funds for the construction of wells and their utilisation in reclamation projects. In the early part of the 20th century, the Madras government established the Pumping and Boring Department to drill boreholes with electric pumps. The Mettur Dam, the Periyar Project, the Cudappah-Kurnool canal and the Rushikulya Project were the biggest irrigation projects launched by the Madras Government. Constructed below the Hogenakkal Falls on the Madras-Mysore border in 1934, the Mettur Dam supplied water to the western districts of the Presidency. The Periyar Dam (now known as the Mullaperiyar Dam) was constructed across the Periyar river in Travancore, near the border. This project diverted the waters of the Periyar river to the Vaigai River basin in order to irrigate the arid lands to the east of the Western Ghats. Similarly, the Rushikulya Project was launched to utilise the waters of the Rushikulya river in Ganjam. Under the scheme over of land were brought under irrigation. The British also constructed a number of dams and canals for irrigation. An upper dam was constructed across the Kollidam river near Srirangam island. The Dowlaishwaram dam across the Godavari river, the Gunnavaram aqueduct across the Vaineteyam Godavari, the Kurnool-Cuddapah canal and the Krishna dam are examples of major irrigation works carried out by the British. In 1946–47, the total area under irrigation was acres which yielded a return of 6.94% on capital outlay.


title: Madras Presidency

text: The trade of the Madras Presidency comprised that of both the Presidency with other Provinces and its overseas trade. External trade made up 93 percent of the total with internal trade making up the remainder. Foreign trade accounted for 70 percent of the total while 23 percent was inter-provincial. In 1900–01, imports from other provinces of British India amounted to 13.43 crores while exports to other provinces amounted to 11.52 crores. During the same year, exports to other countries reached 11.74 crores while imports were valued at 66.2 million. At the time of India's independence, imports of the Presidency amounted to 71.32 crores a year while exports were valued at 645.1 million. Trade with the United Kingdom made up 31.54% of the total trade of the Presidency with Madras the chief port accounting for 49% of the total trade.


title: Madras Presidency

text: Cotton piece-goods, cotton twist and yarn, metals and kerosene oil were the main items of import while animal hides and skins, raw cotton, coffee and piece-goods were the chief exports. Raw cotton, animal hides, oil seeds, grains, pulses, coffee, tea and cotton manufactures were the main items of sea trade. Most of the sea trade was carried through the presidency's principal port of Madras. Other important ports were Gopalpur, Kalingapatnam, Bimlipatnam, Visakhapatnam, Masulipatnam, Cocanada, Madras, Cuddalore, Negapatam, Pamban and Tuticorin on the east coast along with Mangalore, Cannanore, Calicut, Cochin, Alleppey, Quilon (Coulão) and Colachel on the western seaboard. The port of Cochin was taken over by the Government of India on 1 August 1936, and that of Madras on 1 April 1937. There were Chambers of Commerce in Madras, Cochin and Cocanada. These chambers each nominated a member to the Madras Legislative Council.


title: Madras Presidency

text: Cotton-ginning and weaving were two of the main industries in the Madras Presidency. Cotton was produced in large quantities in the Bellary district and was pressed in Georgetown, Madras. The scarcity of cotton in Lancashire caused by a decline in trade due to the American Civil War gave an impetus to cotton and textile production and led to cotton presses being established all over the Presidency. In the early years of the 20th century, Coimbatore emerged as an important centre for cotton textiles and earned the epithet "Manchester of South India". The northern districts of Godavari, Vizagapatam and Kistna were well-known cotton-weaving centres. There was a sugar factory at Aska in Ganjam run by F. J. V. Minchin and another at Nellikuppam in South Arcot district run by the East India Distilleries and Sugar Factories Company. In the Telugu-speaking northern districts of the presidency large quantities of tobacco were cultivated to be subsequently rolled into cheroots. Trichinopoly, Madras and Dindigul were the main cheroot-producing areas. Until the discovery of artificial aniline and alizarine dyes, Madras possessed a thriving vegetable dye manufacturing industry. The city also imported large quantities of aluminium for the manufacture of aluminium utensils. In the early 20th century, the government established the Chrome Tanning Factory which manufactured high-quality leather. The first brewery in the Presidency was founded in the Nilgiri Hills in 1826. Coffee was cultivated in the region of Wynad and the kingdoms of Coorg and Mysore while tea was grown on the slopes of the Nilgiri Hills. Coffee plantations were also established in Travancore but a severe blight at the end of the 19th century destroyed coffee cultivation in the kingdom and almost wiped out coffee plantations in neighbouring Wynad. Coffee-curing works were located at Calicut, Mangalore and Coimbatore. In 1947, Madras had 3,761 factories with 276,586 operatives.


title: Madras Presidency

text: The presidency's fishing industry thrived, with Shark's fins, fish maws and fish curing-operations the main sources of income for fishermen. The southern port of Tuticorin was a centre of conch-fishing but Madras, along with Ceylon, was mainly known for its pearl fisheries. Pearl fisheries were harvested by the Paravas and was a lucrative profession.


title: Madras Presidency

text: The total revenue of the Presidency was 57 crores in 1946–47 made as follows: Land revenue, 8.53 crores; Excise, 14.68 crores; Income tax, 4.48 crores; Stamp revenue, 4.38 crores; forests, 1.61 crores; other taxes, 8.45 crores; Extraordinary receipts, 2.36 crores and revenue fund, Rs.5.02 crores. Total expenditure for 1946–47 was 569.9 million. 208,675 k.v.a of electricity was generated at the end of 1948 of which 98% was under government ownership. The total amount of power generated was 467 million units.


title: Madras Presidency

text: The Madras Stock Exchange was established in Madras city in 1920 with a strength of 100 members but gradually faded away and membership had reduced to three by 1923 when it had to be closed down. Nevertheless, the Madras Stock Exchange was successfully revived in September 1937 and was incorporated as the Madras Stock Exchange Association Limited. EID Parry, Binny and Co. and Arbuthnot Bank were the largest private-owned business corporations at the turn of the 20th century. EID Parry manufactured and sold chemical fertilizers and sugar while the Binnys marketed cotton garments and uniforms manufactured at its spinning and weaving facility, the Buckingham and Carnatic Mills in Otteri. Arbuthnot, owned by the Arbuthnot family, was the largest bank in the Presidency until its crash in 1906. Reduced to penury, disillusioned former Indian investors established the Indian Bank with funds donated by Nattukottai Chetties.


title: Madras Presidency

text: Between 1913 and 1914, Madras had 247 companies. In 1947, the city led in the establishment of registered factories but employed only 62% of the total productive capital.


title: Madras Presidency

text: The first Western-style banking institution in India was the Madras Bank which was established on 21 June 1683, with a capital of one hundred thousand pounds sterling. This was followed by the opening of the Carnatic Bank in 1788, the Bank of Madras in 1795 and the Asiatic Bank in 1804. In 1843, all the banks were merged to form the Bank of Madras. The Bank of Madras had branches in all the presidency's major cities and princely states including Coimbatore, Mangalore, Calicut, Alleppy, Cocanada, Guntur, Masulipatnam, Ootacamund, Negapataam, Tuticorin, Bangalore, Cochin and Colombo in Ceylon. In 1921, the Bank of Madras merged with the Bank of Bombay and the Bank of Bengal to form the Imperial Bank of India. In the 19th century, the Arbuthnot Bank was one of the largest privately owned banks in the Presidency. The City Union Bank, the Indian Bank, Canara Bank, Corporation Bank, Nadar Bank, Karur Vysya Bank, Catholic Syrian Bank, Karnataka Bank, Bank of Chettinad, Andhra Bank, Vysya Bank, Vijaya Bank, Indian Overseas Bank and the Bank of Madura were some of the leading banks headquartered in the Presidency.


title: Madras Presidency

text: In the early days of the agency, the only means of transportation were bullock-carts known as "jhatkas" along with palanquins. The roads connecting Madras to Calcutta in the north and the kingdom of Travancore in the south served as lines of communication during wars. From the early 20th century onwards, bullock-carts and horses were gradually replaced by bicycles and motor vehicles, while motor buses were the main means of private road transportation. Presidency Transport and the City Motor Service were pioneers, operating buses manufactured by Simpson and Co. as early as 1910. The first organised bus system in Madras city was operated by Madras Tramways Corporation between 1925 and 1928. The 1939 Motor Vehicles Act imposed restrictions on public-owned bus and motor services. Most of the early bus services were operated by private agencies.


title: Madras Presidency

text: The first organised initiative for the construction of new roads and maintenance of existing roads in the Presidency was initiated in 1845 with the appointment of a special officer for the maintenance of main roads. The principal roads under the aegis of the officer were the Madras-Bangalore road, Madras-Trichinopoly road, Madras-Calcutta road, Madras-Cuddapah road and the Sumpajee Ghaut road. A Public Works Department was initiated by Lord Dalhousie in 1852 and subsequently in 1855 an East coast canal was constructed for the purpose of easy navigation. Roadways were handled by the Public Works Secretariat which was under the control of the member of the Governor's Executive Council. The principal highways of the Presidency were the Madras-Calcutta road, the Madras-Travancore road and the Madras-Calicut road. By 1946–47, the Madras Presidency had of metalled roads and of unmetalled roads, and of navigable canals.


title: Madras Presidency

text: The first railway line in South India was laid between Madras and Arcot, which was opened for traffic on 1 July 1856. The line was constructed by the Madras Railway Company formed in 1845. The railway station at Royapuram, the first in South India, was built in 1853 and served as the headquarters of the Madras Railway Company. The Great Southern of India Railway Company was set up in the United Kingdom in 1853. and had its headquarters at Trichinopoly where it constructed its first railway line between Trichinopoly and Negapatam in 1859. The Madras Railway Company operated standard or broad-gauge railway lines while the Great South Indian Railway Company operated metre-gauge railway lines. In 1874, The Great Southern Indian Railway Company merged with the Carnatic Railway Company (established in 1864) and was renamed the Southern Indian Railway Company. The Southern Indian Railway Company merged with the Pondicherry Railway Company in 1891 while the Madras Railway Company merged with the Southern Mahratta Railway Company in 1908 to form the Madras and South Mahratta Railway Company. A new terminus was built at Egmore for the Madras and South Mahratta Railway Company. In 1927, the South Indian Railway Company shifted its headquarters from Madurai to Chennai Central. The company operated a suburban electric train service for Madras city from May 1931 onwards. In April 1944, the Madras and South Mahratta Railway Company was taken over by the Madras Government. In 1947, there were of railway in the Presidency, in addition to of district board lines. Madras was well-connected with other Indian cities like Bombay and Calcutta and with Ceylon. The Pamban railway bridge connecting Mandapam on the Indian mainland with Pamban island was opened for traffic in 1914. The Nilgiri Mountain Railway was inaugurated between Mettupalayam and Ootacamund in 1899.


title: Madras Presidency

text: The Madras Tramways Corporation was promoted in Madras city in 1892 by Hutchinsons and Co. and began operating in 1895, before even London had its own tramway system. It plied six routes in Madras linking distant parts of Madras city and covered a total of .


title: Madras Presidency

text: The chief navigable waterways in the presidency were the canals in the Godavari and the Kistna deltas. The Buckingham canal was cut in 1806 at a cost of 90 lakhs of silver to connect the city of Madras with the delta of the Kistna river at Peddaganjam. Ships of the British India Steam Navigation Company frequently docked at Madras and provided frequent services to Bombay, Calcutta, Colombo and Rangoon.


title: Madras Presidency

text: In 1917, Simpson and Co. arranged for a test flight by the first aeroplane in Madras while a flying club was established at the Mount Golf Club grounds near St Thomas Mount by a pilot named G. Vlasto in October 1929. This site was later used as the Madras aerodrome. One of the early members of the club, Rajah Sir Annamalai Chettiar went on to establish an aerodrome in his native Chettinad. On 15 October 1932, Royal Air Force pilot Nevill Vintcent piloted J. R. D. Tata's plane carrying air-mail from Bombay to Madras via Bellary. This was the beginning of Tata Sons' regular domestic passenger and airmail service from Karachi to Madras. The flight was later re-routed through Hyderabad and became bi-weekly. On 26 November 1935, Tata Sons started an experimental weekly service from Bombay to Trivandrum via Goa and Cannanore. From 28 February 1938, onwards, Tata Sons' Aviation division, now renamed Tata Airlines, began a Karachi to Colombo airmail service via Madras and Trichinopoly. On 2 March 1938, the Bombay-Trivandrum air service was extended to Trichinopoly.


title: Madras Presidency

text: The first organised postal service was established between Madras and Calcutta by Governor Edward Harrison in 1712. After reform and regularisation, a new postal system was started by Sir Archibald Campbell and was introduced on 1 June 1786. The Presidency was divided into three postal divisions: Madras North up to Ganjam, Madras South-West to Anjengo (erstwhile Travancore) and Madras West, up to Vellore. In the same year, a link with Bombay was established then in 1837, the Madras, Bombay and Calcutta mail services were integrated to form the All-India Service. On 1 October 1854, the first stamps were issued by the Imperial Postal Service. The General Post Office (GPO), Madras, was established by Sir Archibald Campbell in 1786. In 1872–73, a bimonthly sea-mail service began between Madras and Rangoon. This was followed by the commencement of a fortnightly sea-mail service between Madras and ports on the eastern coast.


title: Madras Presidency

text: Madras was linked to the rest of the world through telegraphs in 1853 and a civilian telegraph service was introduced on 1 February 1855. Soon afterwards, telegraph lines linked Madras and Ootacamund with other cities in India. A Telegraph department was set up in 1854, with a Deputy Superintendent stationed in Madras city. The Colombo-Talaimannar telegraph line established in 1858, was extended to Madras in 1882, thereby connecting the city with Ceylon. Telephones were introduced in the presidency in 1881 and on 19 November 1881, the first telephone exchange with 17 connections was established at Errabalu Street in Madras. A wireless telegraphy service was established between Madras and Port Blair in 1920 and in 1936, the Indo-Burma radio telephone service was established between Madras and Rangoon.


title: Madras Presidency

text: The first schools offering Western-style education in the presidency were established in Madras during the 18th century. In 1822, a Board of Public Instruction was created based on the recommendations of Sir Thomas Munro, after which schools teaching students in vernacular language was established. A central training school was set up in Madras as per Munro's scheme. However, this system appeared to be a failure and the policy was altered in 1836 in order to promote European literature and science. The Board of Public Instruction was superseded by a Committee for Native Education. In January 1840, during the viceroyalty of Lord Ellenborough, a University Board was established with Alexander J. Arbuthnot as the Joint Director of Public Instruction. The central school was converted to a high school in April 1841 with 67 students and in 1853 became the Presidency College with the addition of a college department. On 5 September 1857, the University of Madras was established as an examining body using the University of London as a model with the first examinations held in February 1858. C. W. Thamotharam Pillai and Caroll V. Visvanatha Pillai of Ceylon were the first to graduate from the University. Sir S. Subramaniya Iyer was the first Indian Vice-Chancellor of the University.


title: Madras Presidency

text: Similarly, Andhra University was established by the Andhra University Act of 1925 and in 1937, the University of Travancore was established in the princely state of Travancore.


title: Madras Presidency

text: The Government Arts College, established in Kumbakonam in 1867, was one of the first educational institutions outside Madras. The oldest engineering college in the presidency, College of Engineering, Guindy, was established as a Government Survey School in 1794 before being upgraded to an Engineering College in 1861. Initially, only Civil Engineering was taught, with the further disciplines of Mechanical Engineering added in 1894, Electrical Engineering in 1930 and Telecommunication and Highways in 1945. The AC College, with its emphasis on textiles and leather technology, was founded by Alagappa Chettiar in 1944. The Madras Institute of Technology, which introduced courses such as aeronautical and automobile engineering was established in 1949. In 1827, the first medical school in the Presidency was established then followed by the Madras Medical College in 1835. The Government Teacher's College was established at Saidapet in 1856.


title: Madras Presidency

text: Among the private institutions, the Pachaiyappa's College, established in 1842, is the oldest Hindu educational institution in the presidency. The Annamalai University, established by Rajah Sir Annamalai Chettiar in Chidambaram in 1929, was the first university in the presidency to have hostel facilities Christian missionaries were pioneers in promoting education in the region. The Madras Christian College, St. Aloysius College at Mangalore, Loyola College in Madras and the St. Peter's College at Tanjore were some of the educational institutions established by Christian missionaries.


title: Madras Presidency

text: The Madras Presidency had the highest literacy rate of all the provinces in British India. In 1901, Madras had a male literacy rate of 11.9 percent and a female literacy rate of 0.9 percent. In 1950, when the Madras Presidency became Madras State, the literacy rate was slightly higher than the national average of 18 percent. In 1901, there were 26,771 public and private institutions with 923,760 scholars of whom 784,621 were male and 139,139 female. By 1947, the number of educational institutions had increased to 37,811 and the number of scholars to 3,989,686. Apart from colleges, in 1947 there were 31,975 public and elementary schools, 720 secondary schools for boys and 4,173 elementary and 181 secondary schools for girls. Most of the early graduates were Brahmins. The preponderance of Brahmins in the universities and in the civic administration was one of the main causes for the growth of the Anti-Brahmin movement in the presidency. Madras was also the first province in British India where caste-based communal reservations were introduced.


title: Madras Presidency

text: In 1923, the "Madras University Act" was passed after its introduction by Education Minister A. P. Patro. Under the bill's provisions, the governing body of Madras University was completely reorganised on democratic lines. The bill asserted that the governing body would henceforth be headed by a Chancellor who would be assisted by a pro-Chancellor, usually the Minister of Education. Apart from the Chancellor and the pro-Chancellor who were elected, there was to be a Vice-Chancellor appointed by the Chancellor.


title: Madras Presidency

text: Hindus, Muslims and Christians generally followed a joint family system. The society was largely patriarchal with the eldest male member the leader of the family. Most of the presidency followed a patrilineal system of inheritance. The only exceptions were the district of Malabar and the princely states of Travancore and Cochin which practised the "marumakkathayam" system.


title: Madras Presidency

text: Women were expected to confine themselves to indoor activities and the maintenance of the household. Muslims and high-caste Hindu women observed purdah. The daughter in the family rarely received an education and usually helped her mother with household chores. Upon marrying, she moved to the house of her in-laws where she was expected to serve her husband and the elder members of his family. There have been recorded instances of torture and ill treatment of daughters-in-law. A Brahmin widow was expected to shave her head and was subjected to numerous indignities.


title: Madras Presidency

text: Rural society comprised villages where people of different communities lived together. Brahmins lived in separate streets called "agraharams". Untouchables lived outside village limits in small hamlets called "cheris" and were strictly forbidden from having houses in the village. They were also forbidden from entering important Hindu temples or approaching high-caste Hindus.


title: Madras Presidency

text: Serfdom was practised in almost all castes from Brahmins to non-Brahmins subjecting agricultural labourers to bondage for non-payment of debt. The Law Commission report on slavery in 1841 contains the indicative figures on the number of slaves, computed based on the population of specific castes


title: Madras Presidency

text: of Pallar and Paraiyar. There were proposed regulations in 1811 and 1823 to prevent child labour. In 1833, the British Crown and the House of Commons proposed immediate abolition of slavery in India, but East India Company decreed otherwise. All legal recognition to permit the civil status of slavery were withdrawn with the Act V of 1843 and selling of slaves became a criminal offence in 1862 under the new Indian Penal Code. In spite of these regulations, serfdom continued and the slave population formed 12.2%20% of the total population in 1930 across various districts of the Presidency.


title: Madras Presidency

text: The Malabar Marriage Act of 1896 recognised "sambandham" contracts as legal marriages while the "marmakkathayam" system was abolished by the Marmakkathayam Law of 1933. Numerous measures were taken to improve the lot of Dalit outcasts. The Thirumala Tirupathi Devasthanams Act (1933), included Dalits in the "devasthanam"s administration. The presidency's Temple Entry Authorization Act (1939) and its Temple Entry Proclamation (1936) of Travancore were aimed at elevating the status of Dalit and other low castes to a position equal to that of high-caste Hindus. In 1872, T. Muthuswamy Iyer established the Widow Remarriage Association in Madras and advocated the remarriage of Brahmin widows. The "devadasi" system was regulated in 1927 and completely abolished on 26 November 1947. The Widow Remarriage movement was spearheaded in the Godavari district by Kandukuri Veeresalingam. Most of the pioneers of social reform were Indian nationalists.


title: Madras Presidency

text: Traditional pastimes and forms of recreation in rural areas were cock-fighting, bull-fighting, village fairs and plays. Men in urban areas indulged in social and communistic activities at recreational clubs, music concerts or sabhas, dramas and welfare organisations. Carnatic music and bharatanatyam were especially patronised by the upper and upper-middle class Madras society. Of the sports introduced by the British in the presidency, cricket, tennis, football, and hockey were the most popular. An annual cricket tournament, known as the Madras Presidency Matches, was held between Indians and Europeans during Pongal.


title: Madras Presidency

text: The presidency's first newspaper, the "Madras Courier", was started on 12 October 1785, by Richard Johnston, a printer employed by the British East India Company. The first Indian-owned English-language newspaper was "The Madras Crescent" which was established by freedom-fighter Gazulu Lakshminarasu Chetty in October 1844. Lakshminarasu Chetty is also credited with the foundation of the Madras Presidency Association which was a forerunner of the Indian National Congress. The number of newspapers and periodicals published in the presidency totalled 821 in 1948. The two most popular English-language newspapers were "The Hindu" established by G. Subramania Iyer in 1878, and "The Mail", established as the "Madras Times" by the Gantz family in 1868.


title: Madras Presidency

text: Regular radio service in the presidency commenced in 1938 when All India Radio established a station in Madras. Cinemas became popular in the 1930s and 1940s with the first film in a South Indian language, R. Nataraja Mudaliar's Tamil film "Keechaka Vadham", released in 1916. The first sound films in Tamil and Telugu were made in 1931 while the first Kannada talkie "Sati Sulochana" was made in 1934 and the first Malayalam talkie "Balan" in 1938. There were film studios at Coimbatore, Salem, Madras and Karaikudi. Most early films were made in Coimbatore and Salem but from the 1940s onwards, Madras began to emerge as the principal centre of film production. Until the 1950s, most films in Telugu, Kannada and Malayalam were made in Madras.


title: Provo, Utah

text: Provo ( ) is the fourth-largest city in Utah, United States. It is south of Salt Lake City along the Wasatch Front. Provo is the largest city and county seat of Utah County and is home to Brigham Young University (BYU).


title: Provo, Utah

text: Provo lies between the cities of Orem to the north and Springville to the south. With a population at the 2020 census of 115,162. Provo is the principal city in the Provo-Orem metropolitan area, which had a population of 526,810 at the 2010 census. It is Utah's second-largest metropolitan area after Salt Lake City.


title: Provo, Utah

text: Provo is the home to Brigham Young University, a private higher education institution operated by the Church of Jesus Christ of Latter-day Saints (LDS Church). Provo also has the LDS Church's largest Missionary Training Center (MTC). The city is a focus area for technology development in Utah, with several billion-dollar startups. The city's Peaks Ice Arena was a venue for the Salt Lake City Winter Olympics in 2002. Sundance Resort is northeast, up Provo Canyon.


title: Provo, Utah

text: In 2015, "Forbes" cited Provo among the "Best Small And Medium-Size Cities For Jobs," and the Bureau of Labor Statistics found Utah County had the year's highest job growth. In 2013, "Forbes" ranked Provo the No. 2 city on its list of Best Places for Business and Careers. Provo was ranked first for community optimism (2012) and first in health/well-being (2014).


title: Provo, Utah

text: The Provo area was originally called Timpanogas, a Numic (Ute people) word perhaps meaning "rock river". The area was inhabited by the Timpanogos. It was the largest and most settled area in modern-day Utah. The ample food from the Provo River made the Timpanogos a peaceful people. The area also served as the traditional meeting place for the Ute and Shoshone tribes and as a spot to worship their creator.


title: Provo, Utah

text: Father Silvestre Vélez de Escalante, a Spanish Franciscan missionary-explorer, is considered the first European explorer to have visited the area in 1776. He was guided by two Timpanogos Utes, whom he called Silvestre and Joaquín. Escalante chronicled this first European exploration across the Great Basin Desert. The Europeans did not build a permanent settlement but traded with the Timpanogos, whom they called Lagunas (lake people) or Come Pescado (fish eaters).


title: Provo, Utah

text: In 1847, the Mormon pioneers arrived in the Salt Lake Valley, which was just north of Timpanogos Mountain. At first, the Natives were friendly with the Mormons. But, as relations deteriorated with the Shoshoni and Utes because of disputes over land and cattle, tensions rose. Because of the reported stolen goods of settlers by the Utes, Brigham Young gave small militia orders "to take such measures as would put a final end to their [Indian] depredations in future." This ended in what is known as the Battle Creek massacre, in modern-day Pleasant Grove, Utah.


title: Provo, Utah

text: The Mormons continued pushing into Timpanog lands. In 1849, 33 Mormon families from Salt Lake City established Fort Utah. In 1850, Brigham Young sent an army from Salt Lake to drive out the Timpanogos in what is called the Provo War. Escalating tensions with the Timpanog contributed to the Walker War. Fort Utah was renamed Provo in 1850 for Étienne Provost, an early French-Canadian trapper who arrived in the region in 1825.


title: Provo, Utah

text: As more Latter-day Saints arrived, Provo quickly grew as a city. It soon was nicknamed "The Garden City" with a large number of fruit orchards and gardens there.


title: Provo, Utah

text: In 1872, a railroad reached Provo. It was also this year that the Provo Woolen Mills opened. They were the first large factory in Provo and employed about 150 people, initially mainly skilled textile laborers who had emigrated from Britain.


title: Provo, Utah

text: Provo lies in the Utah Valley at an elevation of . According to the United States Census Bureau, the city has an area of , of which is land and , or 5.66%, is water.


title: Provo, Utah

text: The Wasatch Range contains many peaks within Utah County along the east side of the Wasatch Front. One of them, known as Y Mountain, towers over the city. There is a large hillside letter "Y" made of whitewashed concrete halfway up the steep mountain, built in the early part of the 20th century to commemorate BYU (original plans included construction use of all three letters). Wild deer (and less frequently, cougars, and moose) still roam the mountains (and occasionally the city streets). The geography allows for hiking, skiing, fishing and other outdoor activities.


title: Provo, Utah

text: Provo's climate can be classified as either a hot-summer Mediterranean climate classification (Köppen "Csa") or as a cool semi-arid climate (Köppen "BSk"). Overall, annual rainfall at the location of Brigham Young University is around ; however, the western part of the metropolitan area near Orem is substantially drier, receiving only around of precipitation and consequently has a cool semi-arid climate (Köppen "BSk"). The wettest calendar year in Provo has been 1983 with and the driest 2020 with .


title: Provo, Utah

text: Winters are cold with substantial snowfall averaging and a record monthly total of in January 1918, during which the record snow cover of was recorded on the 17th. Seasonal snowfall has ranged from in 1983–84 to in 2014–15. Very cold weather may occur when cold air from over the Continental Divide invades the region: although only four mornings fall to or below during an average winter and this temperature was not reached at all between 1999 and 2006, during the very cold January 1917 (average temperature ), seventeen mornings fell this cold. By contrast, in several recent winters like 1994–95, 1995–96, 1999–2000, 2004–05, and 2005–06, averages have been above freezing every month.


title: Provo, Utah

text: Temperatures warm rapidly during the spring, with the first afternoon over on March 21, the last freeze expected on April 29, and the first temperature equal to or hotter than on May 30. Rainfall is not infrequent during the spring: over was recorded in the Mays of 1995 and 2011, and a total of fell during the four-month span of March to June 2005 – in contrast as little as fell in the same months of 2012.


title: Provo, Utah

text: Being too far north to gain any influence from the monsoon except in rare cases like the rainfall of August 1983, Provo's summers are hot and dry, though relatively short – no maxima above have been recorded outside the range of June 7 to August 27. Monthly maxima average over in July and August, and precipitation averages under one inch per month with a two-month total in 2016 as low as . The hottest month on record is July 2003 with a mean of , and a mean maximum of . The hottest temperature on record is on July 13, 2002.


title: Provo, Utah

text: The fall season sees steady cooling and a transition to winter weather, with rare influences of rain systems from further south, as in the record wet month of September 1982, which saw of total precipitation, including over the last six days from a storm moving from Arizona. The last maximum of can be expected around September 10, and the first morning below freezing on October 14.


title: Provo, Utah

text: At the 2010 census, 112,488 people, 31,524 households and 21,166 families resided in the city. The population density was . The racial makeup of the city was 84.8% White, 0.7% Black or African American, 0.8% American Indian, 2.5% Asian, 1.1% Pacific Islander, 6.6% from other races, and 3.4% from two or more races. Hispanic or Latino of any race were 15.2% of the population.


title: Provo, Utah

text: There were 31,524 households, of which 34.8% had children under 18 living with them, 55.4% were married couples living together, 8.2% had a female householder with no husband present, and 32.9% were non-families. 12.8% of all households were made up of a single individual, and 4.7% had someone living alone who was 65 years of age or older. The average household size was 3.24, and the average family size was 3.41.


title: Provo, Utah

text: 22.3% of residents are under 18, 36.4% are from 18 to 24, 24.8% are from 25 to 44, 10.5% from 45 to 64, and 5.8% who were 65 years of age or older. The median age was 23.3 years. For every 100 females, there were 98.2 males. For every 100 females aged 18 and over, there were 96.4 males.


title: Provo, Utah

text: At the 2000 census, 105,166 people, 29,192 households and 19,938 families resided in the city. The population density was . There were 30,374 housing units at an average density of . The racial makeup of the city was 88.52% White, 0.46% Black or African American, 0.80% American Indian, 1.83% Asian, 0.84% Pacific Islander, 5.10% from other races, and 2.44% from two or more races. Hispanic or Latino of any race were 10.47% of the population.


title: Provo, Utah

text: There were 29,192 households, of which 33.8% had children under 18 living with them, 57.0% were married couples living together, 7.8% had a female householder with no husband present, and 31.7% were non-families. 11.8% of all households were made up of a single individual, and 4.6% had someone living alone who was 65 years of age or older. The average household size was 3.34, and the average family size was 3.40.


title: Provo, Utah

text: 22.3% of residents were under 18, 40.2% from 18 to 24, 23.2% from 25 to 44, 8.6% from 45 to 64, and 5.7% were 65 years of age or older. The median age was 23 years. For every 100 females, there were 92.6 males. For every 100 females aged 18 and over, there were 89.3 males.


title: Provo, Utah

text: The median household income was $34,313, and the median family income was $36,393. Males had a median income of $32,010 and females $20,928. The per capita income was $13,207. About 12.5% of families and 26.8% of the population were below the poverty line, including 14.4% of those under age 18 and 4.3% of those aged 65 or over.


title: Provo, Utah

text: The residents of Provo are predominantly members of the Church of Jesus Christ OF Latter Day Saints. According to data taken in 2000 by the ARDA, 88% of the overall population, and 98% of religious adherents in the Provo-Orem area are Latter-day Saints. According to a study in 2015, the Provo-Orem metro area is about as dissimilar to the rest of America as possible. Weighing factors such as race, housing, income, and education, the study ranked Provo-Orem 376th of 381 of the United States' largest cities in terms of resemblance to the country.


title: Provo, Utah

text: The breakdown in 2010 for Utah County was as follows: Most people (90.6%) were Christian, with Latter-day Saints constituting 88.7% of the population. Catholics constituted 1.3% and Protestants constituted 0.6%. Other religions constituted 0.3% of the population. 9.1% of the population did not adhere to any religion.


title: Provo, Utah

text: Provo has more than 100 restaurants (with over 60 in the downtown area) and a couple of shopping centers. The Shops At Riverwoods and Provo Towne Centre, both shopping malls, operate in Provo. Several small shops, music venues, and boutiques have popped up downtown, along Center Street and University Avenue. Downtown has also begun to host "gallery strolls" every first Friday of the month that features local artists. There are many dining establishments in and around downtown Provo.


title: Provo, Utah

text: Five Provo companies are listed on Inc.com's Inc. 5000 list of the fastest-growing private companies in the United States. The largest, DieCuts With a View, is ranked number 1403 and has revenues of $26.2 million. Other companies on the list are VitalSmarts (ranked 4109, with $41.4 million in revenue), and Connect Public Relations (ranked 3694, with $6.1 million in revenue). The global recreation and entertainment company Ryze Trampoline Parks, with locations throughout Asia, Europe and the U.S., is headquartered in Provo.


title: Provo, Utah

text: Novell, the dominant personal computer networking company from the mid-1980s through the mid-1990s, was headquartered in Provo and occupied several buildings at the height of its success. It was eventually acquired by The Attachmate Group and then by Micro Focus, which still maintains facilities there.


title: Provo, Utah

text: The Food & Care Coalition is a local organization providing services to the homeless and low-income citizens of Provo and Utah Counties. They also provide volunteer opportunities.


title: Provo, Utah

text: Every July, Provo hosts America's Freedom Festival at Provo which includes the Stadium of Fire at BYU. It is held in LaVell Edwards Stadium, home to BYU's NCAA football team. The Independence Day festivities are popular among residents and have featured such notable figures as Bob Hope, David Hasselhoff, Reba McEntire, Mandy Moore, Huey Lewis and the News, Toby Keith, Sean Hannity, Fred Willard, and Taylor Hicks. In 2015, the event included performances by Journey and Olivia Holt, and was hosted by television personality Montel Williams.


title: Provo, Utah

text: Provo has two other large festivals each fall. Festival Latinoamericano is an annual family-oriented Labor Day weekend event in downtown Provo that offers the community a taste of the region's Hispanic culture through ethnic food, vendors, and performances.


title: Provo, Utah

text: The Covey Center for the Arts, a performing arts center, is at 425 West Center Street. It features plays, ballets, art showcases, and musical performances throughout the year. The size of the building is 42,000 total square feet. The main performance hall seats 670 people. Three dance studios are furnished with a piano, ballet bars, and mirrors. Another theater, the Brinton Black Box Theater, seats 60 for smaller, more intimate events. There are also two art galleries: the 1,620-square-foot Secured Gallery and the Eccles Gallery in the lower lobby.


title: Provo, Utah

text: Provo is the location of the church's largest missionary training center. Each week approximately 475 missionaries enter for 3–9 weeks of training before they depart for the mission field, becoming part of more than 58,000 in more than 120 countries. About 1,100 instructors (many of them returned missionaries) teach 62 languages. The MTC in Provo began construction in July 1974 and was completed in July 1976. The MTC was expanded in the early 1990s to become the largest of the 17 such centers than in the world. Additional construction was completed in 2017.


title: Provo, Utah

text: The Provo City Library is a public library that occupies the building of the former Brigham Young Academy, built-in 1892. The building was added to the National Register of Historic Places in 1976. Its collection contains over 277,000 media. The library is on University Avenue and 550 North.


title: Provo, Utah

text: With construction finished in 2013, the center provides a location for aquatic recreation next to the Provo Power plant.


title: Provo, Utah

text: The Provo Utah Temple is at the base of Rock Canyon in Provo. This temple is among the busiest in the LDS Church due to its proximity to BYU and the MTC.


title: Provo, Utah

text: Located at the corner of University Avenue and Center Street, the Provo City Center Temple serves as another temple for the Provo area's Latter-day Saint population. After a fire in 2010 destroyed the Provo Tabernacle, Thomas S. Monson, then LDS Church president, announced the site would become the city's second temple. Renovations were finished and the temple was dedicated in March 2016.


title: Provo, Utah

text: The Utah Valley Convention Center opened in 2012. It has 83,578 square feet of combined meeting, pre-function and garden space.


title: Provo, Utah

text: Lakeside Storage and Museum is the largest Petroliana Museum of its kind in the World. It has more original porcelain Gas/Oil signs posted on poles than any other collection.


title: Provo, Utah

text: The Museum includes the oldest Brands of gas and oil begun in Utah in 1908, known as the Utah Oil Refining Company and later revised to UTOCO.


title: Provo, Utah

text: The museum also includes antique gas pumps, airplanes, antique cars, and fuel delivery vehicles, as well as a Steam-powered and other powered antique tractor collection.


title: Provo, Utah

text: It is a free, family-friendly, and photo-friendly site to visit next to Utah Lake State Park in Provo.


title: Provo, Utah

text: Federally, Provo is part of Utah's 3rd congressional district, represented by Republican John Curtis, elected in 2017.


title: Provo, Utah

text: Provo is administered by a seven-member city council and a mayor. Five of the council seats are elected by individual city districts, and two of the seats are elected by the city as a whole. These elected officials serve four-year terms, with elections alternating every two years. Provo has a Mayor–council government, which creates two separate but equal branches of government. The mayor is chief executive of the city and the council is the legislative and policy-making body of the city. The mayor is Michelle Kaufusi, who has been in office since December 5, 2017.


title: Provo, Utah

text: BYU is a private university operated by the Church of Jesus Christ of Latter-day Saints. BYU is the third-largest private university in the United States, with more than 34,000 students. It is the flagship of the Church Educational System of higher education. On the campus is the Spencer W. Kimball Tower, the tallest building in Provo.


title: Provo, Utah

text: Rocky Mountain University of Health Professions is a private, for-profit university emphasizing graduate healthcare education. The Northwest Commission accredits the university of Colleges and Universities (NWCCU). RMUoHP offers programs in nursing practice, physical therapy, occupational therapy, and health science. RMUoHP will be building Utah County's first new medical school.


title: Provo, Utah

text: Provo College is a private, for-profit educational institution specializing in career education. The school is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS). Provo College offers associate degrees and diplomas in fields such as nursing, medical assisting, criminal justice, graphic design, and office administration.


title: Provo, Utah

text: Almost all of Provo is within the Provo School District. The school board has seven members, each representing a different district of the city. There are thirteen elementary schools, two middle schools, and three high schools. Provo High School was the first school in Utah County to be an IB World school. The school has a record of 4A state basketball championships, more state champions than any other school in the state. Timpview High School has a record of 4A state football championships.


title: Provo, Utah

text: Interstate 15 runs through western Provo, connecting it with the rest of the Wasatch Front and much of Utah. US-89 runs northwest to southeast through the city as State Street, while US-189 connects US-89 with I-15, BYU, and Orem to the north. At the north edge of the city, US-189 heads northeast into Provo Canyon, where it connects with Heber.


title: Provo, Utah

text: Amtrak, the national passenger rail system, provides service to Provo station, operating its "California Zephyr" daily in both directions between Chicago, Illinois, and Emeryville, California (in the San Francisco Bay Area). Provo also can be accessed by Salt Lake Express intercity buses and the extensive Utah Transit Authority (UTA) bus system. UTA's commuter rail service, the "FrontRunner", opened an extension to Provo from Salt Lake City on December 10, 2012. The Provo Intermodal Center, adjacent to the Amtrak station, connects the "FrontRunner" with local bus routes, as well as Greyhound service.


title: Provo, Utah

text: The Provo Municipal Airport is Utah's second busiest airport regarding the number of aircraft take-offs and landings. Allegiant Airlines offers commercial service to Phoenix, Los Angeles, and Tucson. Salt Lake City International Airport is the closest international airport.


title: Provo, Utah

text: Provo is home to (or the hometown of) many well-known people, including The Osmonds (including Donny, Marie, and the Osmond Brothers), LDS Church apostle Dallin H. Oaks, and NFL and BYU quarterback Steve Young. Robert Redford also maintains a home at the nearby Sundance Resort, just up Provo Canyon.


title: Provo, Utah

text: Goodwin Knight, who served as the 35th Governor of California (1947–1953), was born in Provo. The global economist Dambisa Moyo moved to Provo following her marriage to Qualtrics co-founder Jared Smith.


title: Picaresque novel

text: The picaresque novel (Spanish: "picaresca", from "pícaro", for "rogue" or "rascal") is a genre of prose fiction. It depicts the adventures of a roguish, but "appealing hero", usually of low social class, who lives by his wits in a corrupt society. Picaresque novels typically adopt a realistic style. There are often some elements of comedy and satire. While the term "picaresque novel" was only coined in 1810, the picaresque novel originated in Imperial Rome during the 1st-2nd century CE, in particular with works such as the Satyricon of Petronius and later, and more particularly with authors such as Apuleius in Roman Numidia. It would see a revival in Spain during the Spanish Golden Age in 1554. Early Spanish contributors included Mateo Alemán and Francisco de Quevedo, who were influenced in particular by Apuleius' 2nd century work. Other notable ancient influences of the modern picaresque genre include Roman playwrights such as Plautus and Terence. The Golden Ass of Apuleius nevertheless remains, according to many scholars such as F. W. Chandler, A. Marasso, T. Somerville and T. Bodenmüller, the primary influence for the modern Picaresque genre. Subsequently, after the revival in Spain, the genre flourished throughout Europe for more than 200 years for the first time since the Roman period. It continues to influence modern literature.


title: Picaresque novel

text: According to the traditional view of Thrall and Hibbard (first published in 1936), seven qualities distinguish the picaresque novel or narrative form, all or some of which an author may employ for effect:


title: Picaresque novel

text: In the English-speaking world, the term "picaresque" is often used loosely to refer to novels that contain some elements of this genre; e.g. an episodic recounting of adventures on the road. The term is also sometimes used to describe works which only contain some of the genre's elements, such as Cervantes' "Don Quixote", or Charles Dickens' "Pickwick Papers".


title: Picaresque novel

text: The word "" first starts to appear in Spain with the current meaning in 1545, though at the time it had no association with literature. The word "pícaro" does not appear in "Lazarillo de Tormes" (1554), the novella credited by modern scholars with founding the genre. The expression "picaresque novel" was coined in 1810. Whether it has any validity at all as a generic label in the Spanish sixteenth and seventeenth centuries—Cervantes certainly used "picaresque" with a different meaning than it has today—has been called into question. There is unresolved debate within Hispanic studies about what the term means, or meant, and which works were, or should be, so called. The only work clearly called "picaresque" by its contemporaries was Mateo Alemán's "Guzmán de Alfarache" (1599), which to them was the "Libro del pícaro" (The Book of the Pícaro).


title: Picaresque novel

text: While elements of Chaucer and Boccaccio have a picaresque feel and may have contributed to the style, the modern picaresque begins with "Lazarillo de Tormes", which was published anonymously in 1554 in Burgos, Medina del Campo, and Alcalá de Henares in Spain, and also in Antwerp, which at the time was under Spanish rule as a major city in the Spanish Netherlands. It is variously considered either the first picaresque novel or at least the antecedent of the genre.


title: Picaresque novel

text: The protagonist, Lázaro, lives by his wits in an effort to survive and succeed in an impoverished country full of hypocrisy. As a "pícaro" character, he is an alienated outsider, whose ability to expose and ridicule individuals compromised within society gives him a revolutionary stance. Lázaro states that the motivation for his writing is to communicate his experiences of overcoming deception, hypocrisy, and falsehood ("engaño").


title: Picaresque novel

text: The character type draws on elements of characterization already present in Roman literature, especially Petronius' "Satyricon". Lázaro shares some of the traits of the central figure of Encolpius, a former gladiator, though it is unlikely that the author had access to Petronius' work. From the comedies of Plautus, "Lazarillo" borrows the figure of the parasite and the supple slave. Other traits are taken from Apuleius' "The Golden Ass". "The Golden Ass" and "Satyricon" are rare surviving samples of the "Milesian tale", a popular genre in the classical world, and were revived and widely read in Renaissance Europe.


title: Picaresque novel

text: The principal episodes of "Lazarillo" are based on Arabic folktales that were well known to the Moorish inhabitants of Spain. The Arabic influence may account for the negative portrayal of priests and other church officials in "Lazarillo". Arabic literature, which was read widely in Spain in the time of Al-Andalus and possessed a literary tradition with similar themes, is thus another possible influence on the picaresque style. Al-Hamadhani (d.1008) of Hamadhan (Iran) is credited with inventing the literary genre of "maqamat" in which a wandering vagabond makes his living on the gifts his listeners give him following his extemporaneous displays of rhetoric, erudition, or verse, often done with a trickster's touch. Ibn al-Astarkuwi or al-Ashtarkuni (d.1134) also wrote in the genre "maqamat", comparable to later European picaresque.


title: Picaresque novel

text: The curious presence of Russian loanwords in the text of the "Lazarillo" also suggests the influence of medieval Slavic tales of tricksters, thieves, itinerant prostitutes, and brigands, who were common figures in the impoverished areas bordering on Germany to the west. When diplomatic ties to Germany and Spain were established under the emperor Charles V, these tales began to be read in Italian translations in the Iberian Peninsula.


title: Picaresque novel

text: As narrator of his own adventures, Lázaro seeks to portray himself as the victim of both his ancestry and his circumstance. This means of appealing to the compassion of the reader would be directly challenged by later picaresque novels such as "Guzmán de Alfarache" (1599/1604) and "El Buscón" (composed in the first decade of the 17th century and first published in 1626) because the idea of determinism used to cast the "pícaro" as a victim clashed with the Counter-Reformation doctrine of free will.


title: Picaresque novel

text: An early example is Mateo Alemán's "Guzmán de Alfarache" (1599), characterized by religiosity. Guzmán de Alfarache is a fictional character who lived in San Juan de Aznalfarache, Seville, Spain.


title: Picaresque novel

text: Francisco de Quevedo's "El Buscón" (1604 according to Francisco Rico; the exact date is uncertain, yet it was certainly a very early work) is considered the masterpiece of the subgenre by A. A. Parker, because of his baroque style and the study of the delinquent psychology. However, a more recent school of thought, led by Francisco Rico, rejects Parker's view, contending instead that the protagonist, Pablos, is a highly unrealistic character, simply a means for Quevedo to launch classist, racist and sexist attacks. Moreover, argues Rico, the structure of the novel is radically different from previous works of the picaresque genre: Quevedo uses the conventions of the picaresque as a mere vehicle to show off his abilities with conceit and rhetoric, rather than to construct a satirical critique of Spanish Golden Age society.


title: Picaresque novel

text: Miguel de Cervantes wrote several works "in the picaresque manner, notably "Rinconete y Cortadillo" (1613) and "El coloquio de los perros" (1613; “Colloquy of the Dogs”)". "Cervantes also incorporated elements of the picaresque into his greatest novel, "Don Quixote" (1605, 1615)", the "single most important progenitor of the modern novel", that M. H. Abrams has described as a "quasi-picaresque narrative". Here the hero is not a rogue but a foolish knight.


title: Picaresque novel

text: In order to understand the historical context that led to the development of these paradigmatic picaresque novels in Spain during the 16th and 17th centuries, it is essential to take into consideration the circumstances surrounding the lives of "conversos," whose ancestors had been Jewish, and whose New Christian faith was subjected to close scrutiny and mistrust.


title: Picaresque novel

text: In other European countries, these Spanish novels were read and imitated. In Germany, Hans Jakob Christoffel von Grimmelshausen wrote "Simplicius Simplicissimus" (1669), the most important of non-Spanish picaresque novels. It describes the devastation caused by the Thirty Years' War. Grimmelshausen's novel has been called an example of the German "abenteuerroman" (which literally means "adventure novel"). An "abenteuerroman" is Germany's version of the picaresque novel; it is an "entertaining story of the adventures of the hero, but there is also often a serious aspect to the story."


title: Picaresque novel

text: Alain-René Le Sage's "Gil Blas" (1715) is a classic example of the genre, which in France had declined into an aristocratic adventure. In Britain, the first example is Thomas Nashe's "The Unfortunate Traveller" (1594) in which a court page, Jack Wilson, exposes the underclass life in a string of European cities through lively, often brutal descriptions. The body of Tobias Smollett's work, and Daniel Defoe's "Moll Flanders" (1722) are considered picaresque, but they lack the sense of religious redemption of delinquency that was very important in Spanish and German novels. The triumph of Moll Flanders is more economic than moral. While the mores of the early 18th century wouldn't permit Moll to be a heroine "per se", Defoe hardly disguises his admiration for her resilience and resourcefulness.


title: Picaresque novel

text: The autobiography of Benvenuto Cellini, written in Florence beginning in 1558, also has much in common with the picaresque.


title: Picaresque novel

text: The classic Chinese novel "Journey to the West" is considered to have considerable picaresque elements. Having been written in 1590, it is contemporary with much of the above—but is unlikely to have been directly influenced by the European genre.


title: Picaresque novel

text: Henry Fielding proved his mastery of the form in "Joseph Andrews" (1742), "The Life and Death of Jonathan Wild, the Great" (1743) and "The History of Tom Jones, a Foundling" (1749), though Fielding attributed his style to an "imitation of the manner of Cervantes, author of "Don Quixote"".


title: Picaresque novel

text: William Makepeace Thackeray is the master of the 19th-century English picaresque. Like "Moll Flanders", Thackeray's best-known work, "Vanity Fair: A Novel Without a Hero" (1847-1848)—a title ironically derived from John Bunyan's Puritan allegory of redemption "The Pilgrim's Progress" (1678)—follows the career of fortune-hunting adventuress Becky Sharp. His earlier novel "The Luck of Barry Lyndon" (1844) recounts the rise and fall of an Irish arriviste conniving his way into the 18th-century English aristocracy.


title: Picaresque novel

text: Aleko Konstantinov wrote the 1895 novel "Bay Ganyo" about the eponymous Bulgarian rogue. The character conducts business of uneven honesty around Europe before returning home to get into politics and newspaper publishing. Bay Ganyo is a well-known stereotype in Bulgaria.


title: Picaresque novel

text: In the English-speaking world, the term "picaresque" has referred more to a literary technique or model than to the precise genre that the Spanish call "picaresco". The English-language term can simply refer to an episodic recounting of the adventures of an anti-hero on the road.


title: Picaresque novel

text: Laurence Sterne's "The Life and Opinions of Tristram Shandy, Gentleman" (1761-1767) and "A Sentimental Journey Through France and Italy" (1768) each have strong picaresque elements. Voltaire's French novel "Candide" (1759) contains elements of the picaresque. An interesting variation on the tradition of the picaresque is "The Adventures of Hajji Baba of Ispahan" (1824), a satirical view on early 19th-century Persia, written by a British diplomat, James Morier. See, also, "A Rogue's Life" (1857) by Wilkie Collins.


title: Picaresque novel

text: Elements of the picaresque novel are found in Charles Dickens' "The Pickwick Papers" (1836–37). Gogol occasionally used the technique, as in "Dead Souls" (1842–52). Mark Twain's "Adventures of Huckleberry Finn" (1884) also has some elements of the picaresque novel.


title: Picaresque novel

text: "Kvachi Kvachantiradze" is a novel written by Mikheil Javakhishvili in 1924. This is, in brief, the story of a swindler, a Georgian Felix Krull, or perhaps a cynical Don Quixote, named Kvachi Kvachantiradze: womanizer, cheat, perpetrator of insurance fraud, bank-robber, associate of Rasputin, filmmaker, revolutionary, and pimp.


title: Picaresque novel

text: "The Twelve Chairs" (1928) and its sequel, "The Little Golden Calf" (1931), by Ilya Ilf and Yevgeni Petrov (together known as Ilf and Petrov) became classics of 20th-century Russian satire and the basis for numerous film adaptations.


title: Picaresque novel

text: Camilo José Cela's "La familia de Pascual Duarte" (1942), Ralph Ellison's "Invisible Man" (1952) and "The Adventures of Augie March" by Saul Bellow (1953) were also among mid-twentieth-century picaresque literature. John A. Lee's "Shining with the Shiner" (1944) tells amusing tales about New Zealand folk hero Ned Slattery (1840–1927) surviving by his wits and beating the ‘Protestant work ethic'. So too is Thomas Mann's "Confessions of Felix Krull" (1954), which like many novels emphasizes the theme of a charmingly roguish ascent in the social order. "Under the Net" (1954) by Iris Murdoch, Günter Grass's "The Tin Drum" (1959) is a German picaresque novel. John Barth's "The Sot-Weed Factor" (1960) is a picaresque novel that parodies the historical novel and uses black humor by intentionally incorrect using literary devices.


title: Picaresque novel

text: Other 1960s and 1970s examples include Jerzy Kosinski's "The Painted Bird" (1965), Vladimir Voinovich's "The Life and Extraordinary Adventures of Private Ivan Chonkin" (1969), and Arto Paasilinna's "The Year of the Hare" (1975).


title: Picaresque novel

text: Examples from the 1980s include John Kennedy Toole's novel "A Confederacy of Dunces", which was published in 1980, eleven years after the author's suicide, and won the 1981 Pulitzer Prize for Fiction. It follows the adventures of Ignatius J. Reilly, a well-educated but lazy and obese slob, as he attempts to find stable employment in New Orleans and meets many colorful characters along the way. As well, there is Angela Carter's "Nights at the Circus" (1984).


title: Picaresque novel

text: Later examples include Umberto Eco's "Baudolino" (2000), and Aravind Adiga's "The White Tiger" (Booker Prize 2008).


title: Picaresque novel

text: William S. Burroughs was a devoted fan of picaresque novels, and gave a series of lectures involving the topic in 1979 at Naropa University in Colorado. He says it is impossible to separate the anti-hero from the picaresque novel, that most of these are funny, and they all have protagonist who are outsiders by their nature. His list of picaresque novels includes Petronius' novel "Satyricon" (54–68 AD), "The Unfortunate Traveller" (1594) by Thomas Nashe, both "Maiden Voyage" (1943) and "A Voice Through a Cloud" (1950) by Denton Welch, "Two Serious Ladies" (1943) by Jane Bowles, "Death on Credit" (1936) by Louis-Ferdinand Céline, and even himself.


title: Picaresque novel

text: In contemporary Latin American narrative, there are Manuel Rojas' "Hijo de ladrón" (1951), Joaquín Edwards' "El roto" (1968), Elena Poniatowska's "Hasta no verte Jesús mío" (1969), Luis Zapata's "Las aventuras, desventuras y sueños de Adonis García, el vampiro de la colonia Roma" (1978) and José Baroja's "Un hijo de perra" (2017), among others.


title: Picaresque novel

text: Jaroslav Hašek's "The Good Soldier Švejk" (1923) is an example of a work from Central Europe that has picaresque elements.


title: Picaresque novel

text: J. B. Priestley made use of the form in his "The Good Companions" (1929), which won the James Tait Black Memorial Prize for Fiction.


title: Picaresque novel

text: Fritz Leiber's series of Fafhrd and the Gray Mouser novels have many picaresque elements, and are sometimes described as picaresque on the whole.


title: Picaresque novel

text: Hannah Tinti's novel "The Good Thief" (2008) features a young, one-handed orphan who craves a family, and finds one in a group of rogues and misfits.


title: Picaresque novel

text: Atlus' video game Persona 5 (2016) Was heavily inspired by picaresque fiction. Featuring many picaresque elements, including depictions of other characters, similar themes and literary devices.


title: Picaresque novel

text: In 1987 an Italian comedy film written and directed by Mario Monicelli was released under the Italian title "I picari". It was co-produced with Spain, where it was released as "Los alegres pícaros", and internationally as "The Rogues". Starring Vittorio Gassman, Nino Manfredi, Enrico Montesano, Giuliana De Sio and Giancarlo Giannini, the film is freely inspired by the Spanish novels "Lazarillo de Tormes" and "Guzman de Alfarache".


title: Picaresque novel

text: The sixth episode of Season 1 of the Spanish fantasy television series, "El ministerio del tiempo" (English title: The Ministry of Time), entitled "Tiempo de pícaros" (Time of rascals) focuses on Lázarillo de Tormes as a young boy prior to his adventures in the genre-creating novel that bears his name.


title: Kelly Rutherford

text: Kelly Rutherford (born November 6, 1968) is an American actress. She is known for her television roles as Stephanie "Sam" Whitmore on the NBC daytime soap opera "Generations" (1989–1991), as Megan Lewis on the Fox primetime soap opera "Melrose Place" (1996–1999), and as Lily van der Woodsen on The CW series "Gossip Girl" (2007–2012).


title: Kelly Rutherford

text: Kelly Rutherford was born in Elizabethtown, Kentucky, on November 6, 1968, the daughter of Ann Edwards. She has a brother, Anthony. She attended Corona del Mar High School in Newport Beach, California. She later studied at HB Studio in New York City, and the Beverly Hills Playhouse in California.


title: Kelly Rutherford

text: Rutherford began her career on daytime soap operas. She appeared on "Loving" in 1987, and later was cast as a regular on "Generations" from 1989 to 1991. In 1992 she joined the cast of the ABC drama "Homefront".


title: Kelly Rutherford

text: From 1993 to 1994, Rutherford was a regular on the Fox series "The Adventures of Brisco County, Jr." as Dixie Cousins, a saloon singer and con artist who has a brief romantic encounter with Brisco. In later episodes, Dixie becomes Brisco's primary love interest.


title: Kelly Rutherford

text: She also appeared in the film "I Love Trouble". She also starred in the short-lived series "The Great Defender" as Frankie Collet (1995), and in "" as Caitlin Byrne (1996). In 1996, Rutherford joined the cast of Fox primetime soap opera "Melrose Place", as Megan Lewis. She starred on the show until 1999.


title: Kelly Rutherford

text: She also starred as Christine Hamilton in the horror film "Scream 3" (2000). From 2003 to 2004, she starred in the ABC drama "Threat Matrix" as Special Agent Frankie Ellroy Kilmer. In next television season she starred in another short-lived series, "E-Ring", on NBC. In 2007, Rutherford began starring as Lily van der Woodsen in the CW series "Gossip Girl". The series ended in 2012. Rutherford has also starred in a number of Lifetime movies. In 2016, Rutherford was cast in the ABC thriller "Quantico" playing the recurring role of Laura Wyatt. From 2018 to 2019, Rutherford played the recurring role of Melissa Daniels in the CW reboot series "Dynasty".


title: Kelly Rutherford

text: Rutherford married Venezuelan banker Carlos Tarajano in June 2001. Rutherford filed for divorce in January 2002, after six months of marriage. The wedding was featured shortly thereafter in the February 2002 issue of "InStyle" magazine.


title: Kelly Rutherford

text: Rutherford married her second husband, German businessman Daniel Giersch, in August 2006. She gave birth to their first child, son Hermés Gustaf Daniel Giersch, in October 2006.


title: Kelly Rutherford

text: While pregnant with their second child, Rutherford filed for divorce from Giersch on December 30, 2008. Rutherford and Giersch subsequently became involved in a child custody dispute over their son and their unborn child. Rutherford gave birth to their second child, daughter Helena, in June 2009.


title: Kelly Rutherford

text: In August 2009, Rutherford and Giersch reached a temporary settlement of joint physical custody, in effect until April 2010. Rutherford also obtained a temporary restraining order against him the following month.


title: Kelly Rutherford

text: Giersch's U.S. visa was revoked in April 2012, after Rutherford's lawyer informed the State Department about issues pertaining to Giersch's businesses, which led the department to conclude that they had sufficient evidence to deport him.


title: Kelly Rutherford

text: It has been reported that the allegations involved fraud or an involvement in drugs and weapons dealing in South America, considered terrorism under the PATRIOT Act. Giersch consequently was unable to enter the United States and took up residence in France and Monaco. In May 2012, Rutherford and Giersch's children went to France to spend the summer with their father. Rutherford asked the court to grant her sole custody so that she could keep the children primarily in the United States following their visit to France, as the existing joint custody agreement required her to travel frequently to enable Giersch to spend time with the children.


title: Kelly Rutherford

text: In August 2012, in a widely reported decision, a California Superior Court judge ruled that the 50/50 custody arrangement should remain and that, because Giersch is unable to travel to the United States, the children should live in France with him and attend school there, with Rutherford traveling there to visit them. Though Rutherford opposed the decision and requested a stay of proceedings while she appealed, her request was denied and it was ruled that, in two years, his eligibility to enter the United States and the consequent well-being of the children will be reassessed.


title: Kelly Rutherford

text: In June 2013, Rutherford filed for bankruptcy, stating she had debts of approximately $2 million, primarily due to the $1.5 million she spent on legal fees relating to the divorce and custody dispute with Giersch.


title: Kelly Rutherford

text: In May 2015, Rutherford was granted temporary sole custody of her children, following a ruling that both her son and daughter be brought back to the United States from Monaco, where they had been living with their father since 2012. On July 23, 2015, a California judge ruled that California did not have jurisdiction over Rutherford's child custody case because she resides in New York, and her former husband was again awarded custody.


title: Kelly Rutherford

text: Rutherford then filed a case in New York but on July 27, 2015, the New York court ruled it also did not have jurisdiction.


title: Kelly Rutherford

text: In December 2015, the Monaco courts reconfirmed that full custody remained with the children's father, with Rutherford granted extensive visitation rights in France and Monaco as well as shared input regarding "health, schooling, religious education, and any change of residence".


The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry.


title: Dodd–Frank Wall Street Reform and Consumer Protection Act

text: Responding to widespread calls for changes to the financial regulatory system, in June 2009, President Barack Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression". Legislation based on his proposal was introduced in the United States House of Representatives by Congressman Barney Frank (D-MA) and in the United States Senate by Senator Chris Dodd (D-CT). Most congressional support for Dodd–Frank came from members of the Democratic Party; three Senate Republicans voted for the bill, allowing it to overcome the Senate filibuster.


text: Dodd–Frank reorganized the financial regulatory system, eliminating the Office of Thrift Supervision, assigning new responsibilities to existing agencies like the Federal Deposit Insurance Corporation, and creating new agencies like the Consumer Financial Protection Bureau (CFPB). The CFPB was charged with protecting consumers against abuses related to credit cards, mortgages, and other financial products. The act also created the Financial Stability Oversight Council and the Office of Financial Research to identify threats to the financial stability of the United States, and gave the Federal Reserve new powers to regulate systemically important institutions. To handle the liquidation of large companies, the act created the Orderly Liquidation Authority. One provision, the Volcker Rule, restricts banks from making certain kinds of speculative investments. The act also repealed the exemption from regulation for security-based swaps, requiring credit-default swaps and other transactions to be cleared through either exchanges or clearinghouses. Other provisions affect issues such as corporate governance, 1256 Contracts, and credit rating agencies.


text: Dodd–Frank is generally regarded as one of the most significant laws enacted during the presidency of Barack Obama. Studies have found the Dodd–Frank Act has improved financial stability and consumer protection, although there has been debate regarding its economic effects. In 2017, Federal Reserve Chairwoman Janet Yellen stated that "the balance of research suggests that the core reforms we have put in place have substantially boosted resilience without unduly limiting credit availability or economic growth." Some critics argue it failed to provide adequate regulation to the financial industry; others, such as the American Action Forum and RealClearPolicy, argued that the law had a negative impact on economic growth and small banks. A partial repeal to the Dodd–Frank Act, leaving in place its central structure, was passed in 2018 with the Economic Growth, Regulatory Relief and Consumer Protection Act.


text: The Financial crisis of 2007–2008 led to widespread calls for changes in the regulatory system. In June 2009, President Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression".


text: As the finalized bill emerged from conference, President Obama said that it included 90 percent of the reforms he had proposed. Major components of Obama's original proposal, listed by the order in which they appear in the "A New Foundation" outline, include


text: At President Obama's request, Congress later added the Volcker Rule to this proposal in January 2010.


text: The bills that came after Obama's proposal were largely consistent with the proposal, but contained some additional provisions and differences in implementation.


text: The Volcker Rule was not included in Obama's initial June 2009 proposal, but Obama proposed the rule later in January 2010, after the House bill had passed. The rule, which prohibits depository banks from proprietary trading (similar to the prohibition of combined investment and commercial banking in the Glass–Steagall Act), was passed only in the Senate bill, and the conference committee enacted the rule in a weakened form, Section 619 of the bill, that allowed banks to invest up to 3 percent of their tier 1 capital in private equity and hedge funds as well as trade for hedging purposes.


text: On December 2, 2009, revised versions of the bill were introduced in the House of Representatives by then–financial services committee chairman Barney Frank, and in the Senate Banking Committee by former chairman Chris Dodd. The initial version of the bill passed the House largely along party lines in December by a vote of 223 to 202, and passed the Senate with amendments in May 2010 with a vote of 59 to 39 again largely along party lines.


text: The bill then moved to conference committee, where the Senate bill was used as the base text although a few House provisions were included in the bill's base text. The final bill passed the Senate in a vote of 60-to-39, the minimum margin necessary to defeat a filibuster. Olympia Snowe, Susan Collins, and Scott Brown were the only Republican senators who voted for the bill, while Russ Feingold was the lone Senate Democrat to vote against the bill.


text: One provision on which the White House did not take a position and remained in the final bill allows the SEC to rule on "proxy access"—meaning that qualifying shareholders, including groups, can modify the corporate proxy statement sent to shareholders to include their own director nominees, with the rules set by the SEC. This rule was unsuccessfully challenged in conference committee by Chris Dodd, who—under pressure from the White House—submitted an amendment limiting that access and ability to nominate directors only to single shareholders who have over 5 percent of the company and have held the stock for at least two years.


text: The "Durbin amendment" is a provision in the final bill aimed at reducing debit card interchange fees for merchants and increasing competition in payment processing. The provision was not in the House bill; it began as an amendment to the Senate bill from Dick Durbin and led to lobbying against it.


text: The "New York Times" published a comparison of the two bills prior to their reconciliation. On June 25, 2010, conferees finished reconciling the House and Senate versions of the bills and four days later filed a conference report. The conference committee changed the name of the Act from the "Restoring American Financial Stability Act of 2010". The House passed the conference report, 237–192 on June 30, 2010. On July 15, the Senate passed the Act, 60–39. President Obama signed the bill into law on July 21, 2010.


text: Since the passage of Dodd–Frank, many Republicans have called for a partial or total repeal of Dodd–Frank. On June 9, 2017, The Financial Choice Act, legislation that would "undo significant parts" of Dodd–Frank, passed the House 233–186.


text: On March 14, 2018, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act exempting dozens of U.S. banks from the Dodd–Frank Act's banking regulations. On May 22, 2018, the law passed in the House of Representatives. On May 24, 2018, President Trump signed the partial repeal into law.


text: The Dodd–Frank Wall Street Reform and Consumer Protection Act is categorized into 16 titles and, by one law firm's count, it requires that regulators create 243 rules, conduct 67 studies, and issue 22 periodic reports.


text: The Act changes the existing regulatory structure, by creating a number of new agencies (while merging and removing others) in an effort to streamline the regulatory process, increasing oversight of specific institutions regarded as a systemic risk, amending the Federal Reserve Act, promoting transparency, and additional changes. The Act's intentions are to provide rigorous standards and supervision to protect the economy and American consumers, investors and businesses; end taxpayer-funded bailouts of financial institutions; provide for an advanced warning system on the stability of the economy; create new rules on executive compensation and corporate governance; and eliminate certain loopholes that led to the 2008 economic recession. The new agencies are either granted explicit power over a particular aspect of financial regulation, or that power is transferred from an existing agency. All of the new agencies, and some existing ones that are not currently required to do so, are also compelled to report to Congress on an annual (or biannual) basis, to present the results of current plans and explain future goals. Important new agencies created include the Financial Stability Oversight Council, the Office of Financial Research, and the Bureau of Consumer Financial Protection.


text: Of the existing agencies, changes are proposed, ranging from new powers to the transfer of powers in an effort to enhance the regulatory system. The institutions affected by these changes include most of the regulatory agencies currently involved in monitoring the financial system (Federal Deposit Insurance Corporation (FDIC), U.S. Securities and Exchange Commission (SEC), Office of the Comptroller of the Currency (OCC), Federal Reserve (the "Fed"), the Securities Investor Protection Corporation (SIPC), etc.), and the final elimination of the Office of Thrift Supervision (further described in Title III—Transfer of Powers to the Comptroller, the FDIC, and the FED).


text: As a practical matter, prior to the passage of Dodd–Frank, investment advisers were not required to register with the SEC if the investment adviser had fewer than 15 clients during the previous 12 months and did not hold himself out generally to the public as an investment adviser. The act eliminates that exemption, rendering numerous additional investment advisers, hedge funds, and private equity firms subject to new registration requirements. However, the Act also shifted oversight of non-exempt investment advisers with less than $100 million in assets under management and not registered in more than 15 states to state regulators. A study published in the "American Economic Review" in 2019 (by Ben Charoenwong of the National University of Singapore, Alan Kwan at Hong Kong University, and Tarik Umar at Rice University) found that this switch in enforcement to state regulators increased misconduct among investment advisers by thirty to forty percent, with a bigger increase in areas with less sophisticated clients, less competition, and among advisers with more conflicts of interest, most likely because on average state regulators have less resources and enforcement capacity compared to the SEC.


text: Certain non-bank financial institutions and their subsidiaries will be supervised by the Fed in the same manner and to the same extent as if they were a bank holding company.


text: To the extent that the Act affects all federal financial regulatory agencies, eliminating one (the Office of Thrift Supervision) and creating two (Financial Stability Oversight Council and the Office of Financial Research) in addition to several consumer protection agencies, including the Bureau of Consumer Financial Protection, this legislation in many ways represents a change in the way America's financial markets will operate in the future. Few provisions of the Act became effective when the bill was signed.


text: Senator Chris Dodd, who co-proposed the legislation, has classified the legislation as "sweeping, bold, comprehensive, [and] long overdue". In regards to the Fed and what he regarded as their failure to protect consumers, Dodd voiced his opinion that "[...] I really want the Federal Reserve to get back to its core enterprises [...] We saw over the last number of years when they took on consumer protection responsibilities and the regulation of bank holding companies, it was an abysmal failure. So the idea that we're going to go back and expand those roles and functions at the expense of the vitality of the core functions that they're designed to perform is going in the wrong way." However, Dodd pointed out that the transfer of powers from the Fed to other agencies should not be construed as criticism of Fed Chairman Ben Bernanke, but rather that "[i]t's about putting together an architecture that works".


text: Dodd felt it would be a “huge mistake” to craft the bill under the auspices of bipartisan compromise stating “(y)ou’re given very few moments in history to make this kind of a difference, and we're trying to do that." Put another way, Dodd construed the lack of Republican amendments as a sign "[...] that the bill is a strong one".


text: Richard Shelby, the top-ranking Republican on the Senate Banking Committee and the one who proposed the changes to the Fed governance, voiced his reasons for why he felt the changes needed to be made: "It's an obvious conflict of interest [...] It's basically a case where the banks are choosing or having a big voice in choosing their regulator. It's unheard of." Democratic Senator Jack Reed agreed, saying "The whole governance and operation of the Federal Reserve has to be reviewed and should be reviewed. I don't think we can just assume, you know, business as usual."


text: Barney Frank, who in 2003 told auditors warning him of the risk caused by government subsidies in the mortgage market, "I want to roll the dice a little bit more in this situation toward subsidized housing" proposed his own legislative package of financial reforms in the House, did not comment on the Stability Act directly, but rather indicated that he was pleased that reform efforts were happening at all: "Obviously, the bills aren't going to be identical, but it confirms that we are moving in the same direction and reaffirms my confidence that we are going to be able to get an appropriate, effective reform package passed very soon."


text: During a Senate Republican press conference on April 21, 2010, Richard Shelby reported that he and Dodd were meeting "every day" and were attempting to forge a bipartisan bill. Shelby also expressed his optimism that a "good bill" will be reached, and that "we're closer than ever." Saxby Chambliss echoed Shelby's sentiments, saying, "I feel exactly as Senator Shelby does about the Banking Committee negotiations," but voiced his concern about maintaining an active derivatives market and not driving financial firms overseas. Kay Bailey Hutchison indicated her desire to see state banks have access to the Fed, while Orrin Hatch had concerns over transparency, and the lack of Fannie and Freddy reform.


text: Ed Yingling, president of the American Bankers Association, regarded the reforms as haphazard and dangerous, saying, "To some degree, it looks like they're just blowing up everything for the sake of change. . . . If this were to happen, the regulatory system would be in chaos for years. You have to look at the real-world impact of this."


text: The Securities Industry and Financial Markets Association (SIFMA)—the "top Wall Street lobby"—has expressed support for the law, and has urged Congress not to change or repeal it in order to prevent a stronger law from passing.


text: A survey by Rimes Technologies Corp of senior investment banking figures in the U.S. and UK showed that 86 percent expect that Dodd–Frank will significantly increase the cost of their data operations. Big banks "complained for years about a key feature of the Dodd–Frank overhaul requiring them to keep billions of dollars in cash in reserves." In 2019 some, such as Wells-Fargo, offered higher deposit rates to government lenders, freeing up deposits previously held to maintain the required liquid coverage ratio.


text: Continental European scholars have also discussed the necessity of far-reaching banking reforms in light of the current crisis of confidence, recommending the adoption of binding regulations that would go further than Dodd–Frank—notably in France where SFAF and banking experts have argued that, beyond national legislations, such rules should be adopted and implemented within the broader context of separation of powers in European Union law. This perspective has gained ground after the unraveling of the Libor scandal in July 2012, with mainstream opinion leaders such as the "Financial Times" editorialists calling for the adoption of an EU-wide "Glass Steagall II".


text: An editorial in the "Wall Street Journal" speculated that the law would make it more expensive for startups to raise capital and create new jobs; other opinion pieces suggest that such an impact would be due to a reduction in fraud or other misconduct.


text: The Dodd–Frank Act has several provisions that call upon the Securities and Exchange Commission (SEC) to implement several new rules and regulations that will affect corporate governance issues surrounding public corporations in the United States. Many of the provisions put in place by Dodd–Frank require the SEC to implement new regulations, but intentionally do not give specifics as to when regulations should be adopted or exactly what the regulations should be. This will allow the SEC to implement new regulations over several years and make adjustments as it analyzes the environment. Public companies will have to work to adopt new policies in order to adapt to the changing regulatory environment they will face over the coming years.


text: Section 951 of Dodd–Frank deals with executive compensation. The provisions require the SEC to implement rules that require proxy statements for shareholder meetings to include a vote for shareholders to approve executive compensation by voting on "say on pay" and "golden parachutes." SEC regulations require that at least once every three years shareholders have a non-binding say-on-pay vote on executive compensation. While shareholders are required to have a say-on-pay vote at least every three years, they can also elect to vote annually, every two years, or every third year. The regulations also require that shareholders have a vote at least every six years to decide how often they would like to have say-on-pay votes. In addition, companies are required to disclose any golden parachute compensation that may be paid out to executives in the case of a merger, acquisition, or sale of major assets. Proxy statements must also give shareholders the chance to cast a non-binding vote to approve golden parachute policies. Although these votes are non-binding and do not take precedence over the decisions of the board, failure to give the results of votes due consideration can cause negative shareholder reactions. Regulations covering these requirements were implemented in January 2011 and took effect in April 2011.


text: Section 952 of Dodd–Frank deals with independent compensation committees as well as their advisors and legal teams. These provisions require the SEC to make national stock exchanges set standards for the compensation committees of publicly traded companies listed on these exchanges. Under these standards national stock exchanges are prohibited from listing public companies that do not have an independent compensation committee. To insure that compensation committees remain independent, the SEC is required to identify any areas that may create a potential conflict of interest and work to define exactly what requirements must be met for the committee to be considered independent. Some of the areas examined for conflicts of interest include other services provided by advisors, personal relationships between advisors and shareholders, advisor fees as a percentage of their company's revenue, and advisors' stock holdings. These provisions also cover advisors and legal teams serving compensation committees by requiring proxy statements to disclose any compensation consultants and include a review of each to ensure no conflicts of interest exist. Compensation committees are fully responsible for selecting advisors and determining their compensation. Final regulations covering issues surrounding compensation committees were implemented in June 2012 by the SEC and took effect in July 2012. Under these regulations the New York Stock Exchange (NYSE) and NASDAQ also added their own rules regarding the retention of committee advisors. These regulations were approved by the SEC in 2013 and took full effect in early 2014.


text: Section 953 of Dodd–Frank deals with pay for performance policies to determine executive compensation. Provisions from this section require the SEC to make regulations regarding the disclosure of executive compensation as well as regulations on how executive compensation is determined. New regulations require that compensation paid to executives be directly linked to financial performance including consideration of any changes in the value of the company's stock price or value of dividends paid out. The compensation of executives and the financial performance justifying it are both required to be disclosed. In addition, regulations require that CEO compensation be disclosed alongside the median employee compensation excluding CEO compensation, along with ratios comparing levels of compensation between the two. Regulations regarding pay for performance were proposed by the SEC in September 2013 and were adopted in August 2015.


text: Section 954 of Dodd–Frank deals with clawback of compensation policies, which work to ensure that executives do not profit from inaccurate financial reporting. These provisions require the SEC to create regulations that must be adopted by national stock exchanges, which in turn require publicly traded companies who wish to be listed on the exchange to have clawback policies. These policies require executives to return inappropriately awarded compensation, as set forth in section 953 regarding pay for performance, in the case of an accounting restatement due to noncompliance with reporting requirements. If an accounting restatement is made then the company must recover any compensation paid to current or former executives associated with the company the three years prior to the restatement. The SEC proposed regulations dealing with clawback of compensation in July 2015.


text: Section 955 of Dodd–Frank deals with employees' and directors' hedging practices. These provisions stipulate that the SEC must implement rules requiring public companies to disclose in proxy statements whether or not employees and directors of the company are permitted to hold a short position on any equity shares of the company. This applies to both employees and directors who are compensated with company stock as well as those who are simply owners of company stock. The SEC proposed rules regarding hedging in February 2015.


text: Section 957 deals with broker voting and relates to section 951 dealing with executive compensation. While section 951 requires say on pay and golden parachute votes from shareholders, section 957 requires national exchanges to prohibit brokers from voting on executive compensation. In addition, the provisions in this section prevent brokers from voting on any major corporate governance issue as determined by the SEC including the election of board members. This gives shareholders more influence on important issues since brokers tend to vote shares in favor of executives. Brokers may only vote shares if they are directly instructed to do so by shareholders associated with the shares. The SEC approved the listing rules set forth by the NYSE and NASDAQ regarding provisions from section 957 in September 2010.


text: Additional provisions set forth by Dodd–Frank in section 972 require public companies to disclose in proxy statements reasons for why the current CEO and chairman of the board hold their positions. The same rule applies to new appointments for CEO or chairman of the board. Public companies must find reasons supporting their decisions to retain an existing chairman of the board or CEO or reasons for selecting new ones to keep shareholders informed.


text: Provisions from Dodd–Frank found in section 922 also address whistle blower protection. Under new regulations any whistle blowers who voluntarily expose inappropriate behavior in public corporations can be rewarded with substantial compensation and will have their jobs protected. Regulations entitle whistle blowers to between ten and thirty percent of any monetary sanctions put on the corporation above one million dollars. These provisions also enact anti-retaliation rules that entitle whistle blowers the right to have a jury trial if they feel they have been wrongfully terminated as a result of whistle blowing. If the jury finds that whistle blowers have been wrongfully terminated, then they must be reinstated to their positions and receive compensation for any back-pay and legal fees. This rule also applies to any private subsidiaries of public corporations. The SEC put these regulations in place in May 2011.


text: Section 971 of Dodd–Frank deals with proxy access and shareholders' ability to nominate candidates for director positions in public companies. Provisions in the section allow shareholders to use proxy materials to contact and form groups with other shareholders in order to nominate new potential directors. In the past, activist investors had to pay to have materials prepared and mailed to other investors in order to solicit their help on issues. Any shareholder group that has held at least three percent of voting shares for a period of at least three years is entitled to make director nominations. However, shareholder groups may not nominate more than twenty five percent of a company's board and may always nominate at least one member even if that one nomination would represent over twenty five percent of the board. If multiple shareholder groups make nominations then the nominations from groups with the most voting power will be considered first with additional nominations being considered up to the twenty five percent cap.


text: On July 12, 2012, the Competitive Enterprise Institute joined the State National Bank of Big Spring, Texas, and the 60 Plus Association as plaintiffs in a lawsuit filed in the U.S. District Court for the District of Columbia, challenging the constitutionality of provisions of Dodd–Frank. The complaint asked the court to invalidate the law, arguing that it gives the federal government unprecedented, unchecked power. The lawsuit was amended on September 20, 2012, to include the states of Oklahoma, South Carolina, and Michigan as plaintiffs. The states asked the court to review the constitutionality of the Orderly Liquidation Authority established under Title II of Dodd–Frank.


text: In February 2013 Kansas attorney general Derek Schmidt announced that Kansas along with Alabama, Georgia, Ohio, Oklahoma, Nebraska, Michigan, Montana, South Carolina, Texas, and West Virginia would join the lawsuit. The second amended complaint included those new states as plaintiffs.


text: On August 1, 2013, U.S. District Judge Ellen Segal Huvelle dismissed the lawsuit for lack of standing. In July 2015, the Court of Appeals for the District of Columbia Circuit affirmed in part and reversed in part, holding that the bank, but not the states that later joined the lawsuit, had standing to challenge the law, and returned the case to Huvelle for further proceedings.


text: On January 14, 2019, the Supreme Court refused to review the District of Columbia Circuit's decision to dismiss their challenge to the constitutionality of the CFPB's structure as an "independent" agency.


text: On April 21, 2010, the CBO released a cost-estimate of enacting the legislation. In its introduction, the CBO briefly discussed the legislation and then went on to generally state that it is unable to assess the cost of financial crises under current law, and added that estimating the cost of similar crises under this legislation (or other proposed ideas) is equally (and inherently) difficult: "[...] CBO has not determined whether the estimated costs under the Act would be smaller or larger than the costs of alternative approaches to addressing future financial crises and the risks they pose to the economy as a whole."