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Welcome to Savings Guide

 

Eastern Savings Bank Article

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Day Light Savings Time

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Introduction

Day light savings time (DST) is essentially defined as the practice of advancing the clock time so that the afternoons have more of daylights than the mornings.

Also known as the summer time in British English, this system typically requires the clocks to be adjusted forward by one hour near the start of spring and is adjusted backward in autumn.

History has it the day lights saving time were instituted in the Untied States during the World War I, in order to save energy for war production so that maximum advantage of the later hours of daylight between April and October could be taken.

Features and Aspects

Experts strongly suggest that one of the biggest advantages of day light savings time is that it saves a lot of energy. The logic which is described behind this is that the energy used and the demand for electricity for lighting our homes is directly proportionate to when we go to bed and when do we get up. If the sleeping time gets proponed by an hour, that could amount to an equal amount of energy saved all throughout.

As per the procedure of the day lights saving time, at 2 a.m. on the second Sunday in March, the clocks are set one hour ahead of the standard time. Moving on, the clocks are again set back by one hour at 2 a.m. on the first Sunday in the November, thus reverting to the standard time.

During this six-and-a-half-month period of day light savings time, the names of time in each of the time zones in the US are also changed. For instance the Eastern Standard Time is changed to Eastern Daylight Time, and Central Standard Time (CST) becomes Central Daylight Time and so on.

Meanwhile, in the Southern hemisphere where summer comes in December, the day light savings time is observed from October to March. It has to be noted that there is a variation in the pattern of adherence to the day light savings time all across the globe. While the Asian region has almost never observed the daily light savings time schedule, the timings and patterns followed by a many other regions and countries might differ from each other.

The concept of DST has always had a very important place in history. The entire cycle of business, school and all forms of commercial pursuits goes under a variation based on the presence or absence of this concept. Though some of schools of thought actually opine against the benefits of this concept, yet this mechanism has come to stay since long and continues to do well into the future.
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American Savings Bank Reports First Quarter 2012 Earnings

HONOLULU, April 30, 2012 /PRNewswire/ -- American Savings Bank, F.S.B. (American), a wholly-owned indirect subsidiary of Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today reported net income for ...

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Md. man pleads guilty in Eastern Shore bank fraud

NORFOLK A Maryland man pleaded guilty to conspiracy to commit bank fraud in connection with the purchase of real estate on the Eastern Shore. Christopher G. DeBlauw, 44, of Millersville, Md. faces up to 30 years in prison when he is sentenced in August, a news release from the U.S. attorney's office in the Eastern District of Virginia said.

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Polish Central Bank Chief Lashes Out At Debt-Driven Economies

Economic growth driven by domestic savings and supported by stronger cross-border regulation of banks should replace the debt-driven model of the past, the governor of the National Bank of Poland said Friday.

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5 bank failures bring year's tally to 22

SAN FRANCISCO (MarketWatch) -- Five more bank failures brought the number of U.S. failures to 22 this year, the Federal Deposit Insurance Corp. said Friday. The two largest were Plantation Federal Bank of Pawleys Island, S.C., and Inter Savings Bank of Maple Grove, Minn., each with nearly $500 million in deposits. First Federal Savings and Loan Association of Charleston, S.C., will assume the ...

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Four bank failures bring year's tally to 21

SAN FRANCISCO (MarketWatch) -- Four bank failures brought the number of U.S. failures to 21 this year, the Federal Deposit Insurance Corp. said Friday. The two largest were Plantation Federal Bank of Pawleys Island, S.C., and Inter Savings Bank of Maple Grove, Minn., each with nearly $500 million in deposits. First Federal Savings and Loan Association of Charleston, S.C., will assume the ...

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