In finance and economics, divestment or divestiture is the reduction of some kind of asset for either financial or ethical objectives or sale of an existing business by a firm. A divestment is the opposite of an investment.
Firms may have several motives for divestitures.
First, a firm may divest (sell) businesses that are not part of its core operations so that it can focus on what it does best. For example, Eastman Kodak, Ford Motor Company, and many other firms have sold various businesses that were not closely related to their core businesses.
A second motive for divestitures is to obtain funds. Divestitures generate funds for the firm because it is selling one of its businesses in exchange for cash. For example, CSX Corporation made divestitures to focus on its core railroad business and also to obtain funds so that it could pay off some of its existing debt.
A third motive for divesting is that a firm's "break-up" value is sometimes believed to be greater than the value of the firm as a whole. In other words, the sum of a firm's individual asset liquidation values exceeds the market value of the firm's combined assets. This encourages firms to sell off what would be worth more when liquidated than when retained.
Tim DeChristopher is an American climate activist and co-founder of the environmental group Peaceful Uprising. On December 19, 2008, he protested an oil and gas lease auction of 116 parcels of public land in Utah's redrock country, conducted by the Bureau of Land Management. DeChristopher decided to participate in the auction, signing a Bidder Registration Form and placing bids to obtain 14 parcels of land (totaling 22,500 acres) for $1.8 million. DeChristopher was removed from the auction by federal agents, taken into custody, and questioned. On July 26, 2011, Judge Dee Benson sentenced DeChristopher to two years in prison; his lawyers plan to appeal.[citation needed]
DeChristopher was born on November 18, 1981 in West Virginia and grew up in Pittsburgh. After graduating from Shady Side Academy he attended Arizona State University, and moved to Utah in 2005 where he worked as a wilderness guide for troubled and at-risk youth. As a guide, DeChristopher emphasized self-reliance skills and respect for the natural world. His interaction with at-risk youth groups led him to reject what he viewed as a political and economic system that concentrates wealth in the hands of a privileged few while ostracizing vulnerable and impoverished citizens in the U.S. This conviction later inspired him to study economics at the University of Utah, where he received a Bachelor's degree in 2009.
Jeremy Charles Robert Clarkson (born 11 April 1960) is an English broadcaster, journalist and writer who specialises in motoring. He is best known for his role on the BBC TV show Top Gear along with co-presenters Richard Hammond and James May. He also writes weekly columns for The Sunday Times and The Sun.
From a career as a local journalist in Northern England, Clarkson rose to public prominence as a presenter of the original format of Top Gear in 1988. Since the mid-1990s, Clarkson has become a recognised public personality, regularly appearing on British television presenting his own shows and appearing as a guest on other shows. As well as motoring, Clarkson has produced programmes and books on subjects such as history and engineering. From 1998 to 2000 he also hosted his own chat show, Clarkson.
His opinionated but humorous tongue-in-cheek writing and presenting style has often generated much public reaction to his viewpoints. His actions both privately and as a Top Gear presenter have also sometimes resulted in criticism from the media, politicians, pressure groups and the public.