King Report on Corporate Governance

The King Report on Corporate Governance is a ground-breaking code of corporate governance in South Africa issued by the King Committee on Corporate Governance. Three reports were issued in 1994 (King I), 2002 (King II), and 2009 (King III). Compliance with the King Reports is a requirement for companies listed on the Johannesburg Stock Exchange. The King Report on Corporate Governance has been cited as "the most effective summary of the best international practices in corporate governance".

History

In July 1993 the Institute of Directors in South Africa asked retired Supreme Court of South Africa judge Mervyn E. King to chair a committee on corporate governance. He viewed this as an opportunity to educate the newly democratic South African public on the working of a free economy. The committee's report was to be the first report of its kind in South Africa.

Committee members included Phillip Armstrong, Nigel Payne, and Richard Wilkinson.

Approach

Unlike other corporate governance codes such as Sarbanes-Oxley, the code is non-legislative, and is based on principles and practices. It also espouses an apply or explain approach, unique to the Netherlands until King and now also found in the 2010 Combined Code from the United Kingdom.

Lockheed C-130 Hercules

The Lockheed C-130 Hercules is a four-engine turboprop military transport aircraft designed and built originally by Lockheed, now Lockheed Martin. Capable of using unprepared runways for takeoffs and landings, the C-130 was originally designed as a troop, medivac, and cargo transport aircraft. The versatile airframe has found uses in a variety of other roles, including as a gunship (AC-130), for airborne assault, search and rescue, scientific research support, weather reconnaissance, aerial refueling, maritime patrol, and aerial firefighting. It is now the main tactical airlifter for many military forces worldwide. Over forty models and variants of the Hercules, including a civilian one marketed as Lockheed L-100, operate in more than sixty nations.

The C-130 entered service with the U.S. in the 1950s, followed by Australia and others. During its years of service, the Hercules family has participated in numerous military, civilian and humanitarian aid operations. In 2007, the C-130 became the fifth aircraft—after the English Electric Canberra, B-52 Stratofortress, Tu-95, and KC-135 Stratotanker—to mark 50 years of continuous service with its original primary customer, in this case, the United States Air Force. The C-130 Hercules is the longest continuously produced military aircraft at over 60 years, with the updated C-130J Super Hercules being produced today.

Lockheed HC-130

The Lockheed HC-130 is an extended-range, search and rescue (SAR)/combat search and rescue (CSAR) version of the C-130 Hercules transport. The HC-130H and HC-130J versions are operated by the United States Coast Guard in a SAR and maritime reconnaissance role. The HC-130P Combat King and HC-130J Combat King II models are operated by the United States Air Force for long-range SAR and CSAR. The USAF variants also execute on scene CSAR command and control, airdrop pararescue forces and equipment, and are also capable of providing aerial refueling to appropriately equipped helicopters in flight. In this latter role, they are primarily used to extend the range and endurance of combat search and rescue helicopters.

In July of 2015 it was announced that the U.S. Forest Service will be getting some of the HC-130H aircraft from the U.S. Coast Guard to use as aerial fire retardant drop tankers.

Development

The United States Coast Guard was the first recipient of the HC-130 variant. In keeping with the USN/USMC/USCG designation system of the time, the designation for the first order in 1958 was R8V-1G, but with the introduction of the Tri-Service aircraft designation system for commonality with the US Army and USAF in 1962, this was eventually changed to HC-130B. Six USCG HC-130E aircraft were produced in 1964, but production soon switched to the new C-130H platform which was entering service. The first HC-130H flew on 8 December 1964 and the USCG still operates this aircraft.

Air force

An air force, also known in some countries as an air army, is in the broadest sense, the national military organization that primarily conducts aerial warfare. More specifically, it is the branch of a nation's armed services that is responsible for aerial warfare as distinct from an army, navy, or a marine corps. Typically, air forces are responsible for gaining control of the air, carrying out strategic and tactical bombing missions, and providing support to land and naval forces.

The term "air force" may also refer to a tactical air force or numbered air force, which is an operational formation either within a national air force or comprising several air components from allied nations. Air forces typically consist of a combination of fighters, bombers, helicopters, transport planes and other aircraft.

Many air forces are also responsible for operations of the military space, intercontinental ballistic missiles (ICBM), and communications equipment. Some air forces may command and control other air defence assets such as anti-aircraft artillery, surface-to-air missiles, or anti-ballistic missile warning networks and defensive systems. Some nations, principally Russia, the former Soviet Union and countries who modelled their militaries along Soviet lines, have an air defence force which is organizationally separate from their air force.

Combat

Combat or fighting is a purposeful violent conflict meant to weaken, establish dominance over, or kill the opposition, or to drive the opposition away from a location where it is not wanted or needed.

The term combat (French for fight) typically refers to armed conflict between opposing military forces in warfare, whereas the more general term "fighting" can refer to any physical or verbal conflict between individuals or nations. Combat violence can be unilateral, whereas fighting implies at least a defensive reaction. A large-scale fight is known as a battle. A verbal fight is commonly known as an argument.

Background

Combat may take place under a specific set of rules or be unregulated. Examples of rules include the Geneva Conventions (covering the treatment of people in war), medieval chivalry, the Marquess of Queensberry rules (covering boxing) and several forms of combat sports.

Combat in warfare involves two or more opposing military organizations, usually fighting for nations at war (although guerrilla warfare and suppression of insurgencies can fall outside this definition). Warfare falls under the laws of war, which govern its purposes and conduct, and protect the rights of combatants and non-combatants.