Saturday, August 31, 2019
The poemÃ¢â¬â¢s major theme revolves around the unravelling of the US financial sector Ã¢â¬â and particularly its impact on investment banks Ã¢â¬â in the wake of the recent global economic recession that affected the US and most of the world economies. Some of the macroeconomic concepts addressed Ã¢â¬â tacitly and explicitly Ã¢â¬â include: executive compensation, and the business cycle (Paxton, 1). The crisis is said to have primarily been triggered by the sub prime mortgage crisis. Traditionally, investment banks and other lending institutions have financed their customersÃ¢â¬â¢ borrowings from the deposits they collect from the members of the public. With the demand for credit finance to purchase essential items such as homes rising exponentially, the deposits became inadequate to finance the borrowing requirements and many of these financial institutions resorted to innovative financial products such as the securitization model or mortgage backed securities. Here, the financial institutions sell bonds. Those buying the bonds are guaranteed of getting their money back after a certain duration plus an attractive interest, and the money raised from floating these bond is advanced to the borrowers (in this case, prospective homeowners). The bondholders will be paid back their money whether the borrowers pay the bank back or default. Thus, it can be seen that the investment banks here shoulder substantial risks (Zeese, 1; Rasmus, 3; BBC, 1). The main problem was that these loans were made out to a segment of the market that is considered risky due to its low income and poor credit history. This segment has been referred to as the sub-prime mortgage segment. As long as the prices of homes continued to rise, this model of financing home purchases made sense because the borrowers could refinance their home purchases. However, and against all expectations, the real estate bubble that had been so prolonged in the country burst, and home prices began trending south at a dramatic rate. The import of all these is that the sub prime mortgage borrowers were unable to pay back what they had borrowed. They defaulted, leading to massive foreclosures (Zeese, 1; Rasmus, 3; BBC, 1). The loans that had been made out by the financial institutions were in the tune of billions of dollars. When these borrowers defaulted, the banks were left holding toxic assets, which they wrote down leading to massive losses. A number of them were pushed to the brink of bankruptcy. These include: Fannie Mae and Freddie Mac, Goldman Sachs, AIG, Merrill Lynch, Bears Stearns and Lehman Brothers (Zeese, 1; Rasmus, 3; BBC, 1). It is this backdrop that provides the context for the poem. The poet parodies the false sense of security that these institutions had projected Ã¢â¬â for long, investment bankers such as Lehman Brothers had been viewed as beacons of stability in the American economy, doling out priceless advice to Americans on maters economic. But as the poet shows, the sub prime mortgage crisis unmasked them for who they are, left them at a loss of what to do, and they have turned out to be Ã¢â¬Å"the blind leading the blindÃ¢â¬ (Paxton, 1). One wonders how, with all their wisdom, the investment bankers could have hedged their risks upon such a risky market as the sub-prime mortgage segment. One of the immediate responses to the financial crisis was the rollout of a bailout package by the US government (whose worth was Ã¢â¬Å"seven hundred million grand,Ã¢â¬ in the words of the poet) (Paxton, 1). The failing institutions were major beneficiaries of this bailout package. According to Nanking (1), Bears Stearns was bought by JP Chase for $236 million, with the Federal Reserve Bank providing a staggering $30 billion to facilitate its purchase. Courtesy of the Housing and Economic Recovery Act of 2008, the government is said to have put in some $400 billion in Fannie Mae and Freddie Mac. The AIG on its part received at least four cash bailouts, all of them amounting to $180 billion in total (Nanking, 1). The poet strongly questions the ethics behind these bailout packages, given that the crisis that affected the investment banks was largely self-inflicted. For example, apart from poor judgment resulting in the sub-prime mortgage crisis, the problems which the banks faced were also catalyzed by poor management practices such as excessive executive pay. The problems facing the banks also broke out at a time the issue of executive pay was coming under the spotlight. For example, Linn (2) writes that in 1970, top executives were earning 44 times what subordinate workers got and that by 2007 this had jumped to 344 times what the subordinate employees got. More telling is the fact that the CEOÃ¢â¬â¢s of Lehman Brothers and Merrill Lynch, two of the failed investment bankers, received a total of over $117 million in spite of leading their organizations down the drain (Bass and Beamish, 1). Lloyd Blankfein, Goldman SachÃ¢â¬â¢s top honcho, got $54 million, when the bank made a loss, with the 116 investment banks that had been short listed for aid under the bailout package having paid a cool $1.6 billion as bonuses to their CEOÃ¢â¬â¢s. AIG was mulling paying its CEO $165 million, when it had made a loss of over $60 billion (Bass and Beamish, 1). Given that these banks had been advanced cash under the bailout plan (which itself is from taxpayer funds), it is logical to assert that it is the average American (who earns 344 times less what the CEO gets) who is being made to pay for the mistakes of the CEOÃ¢â¬â¢s. It is this obscenity that the poem seems to rant about. Listen to the poet: Ã¢â¬Å"And it said that failure was the only crime. If you really screwed things up, then you were through; NowÃ¢â¬âÃ¢â¬âsurprise!Ã¢â¬âÃ¢â¬âthere is a different point of view. All that crazy rooty-tootinÃ¢â¬â¢ And that golden parachutinÃ¢â¬â¢ Means that someoneÃ¢â¬â¢s making millionsÃ¢â¬âÃ¢â¬âjust not you!Ã¢â¬ Works Cited: BBC. (2007). The downturn in facts and figures. 21 Nov 2007. 28 May 2010.Ã http://news.bbc.co.uk/2/hi/business/7302341.stm Bass, Frank and Beamish, Rita. (2008). AP Study Finds $1.6B Went To Bailed-Out Bank Execs. 22 Dec 2008. 29 May 2010. Ã http://corridornews.blogspot.com/2008/12/investment-bank-executives-pork-out-on.html Linn, Allison. (2009). Ã¢â¬Å"AIG flap gives ammunition to critics of high pay.Ã¢â¬ MSNBC. Mar 20th 2009. 29 May 2010. http://www.msnbc.msn.com/id/29791834/ Nankin, Jesse. (2009). History of U.S. govÃ¢â¬â¢t bailouts. 1 Nov 2009. 29 May 2010. http://www.propublica.org/special/bailout-aftermaths#penncentral Paxton, Tom. Ã¢â¬Å"I am changing my name to Fannie Mae.Ã¢â¬ Rasmus, Jack. (2008). Fannie Mae, Freddie Mac: phase two of the financial crisis. Sep 2008. 28 May 2009. http://www.zcommunications.org/zmag/viewArticle/18717 Zeese, Kevin. (2008). The causes of the auto crisis. 25 Nov 2008. 28 May 2009. http://www.countercurrents.org/zeese251108.htm
Friday, August 30, 2019
Reservation policy fails to achieve its purpose of giving equal opportunity to everyone because of lack of infrastructure in the rural areas of the country where the proportion of backward classes is significant. A number of people living in some remote areas in Orissa, M. P. or Bihar are not even aware of these policies. They are deprived of even primary education and basic employment which make them more backward financially. It fails to establish which causes disequilibrium in the status of the states. The total reservation quota stands at 49% in many states of India and this includes the SCs, STs and OBCs. The trend seems to have shifted to reverse discrimination rather than more affirmative action. Some backward classÃ¢â¬â¢s elite have gained political and economic clout based on this reservation. However a majority of the backward classes is not living any differently than before because their subsistence is meagre and rural lifestyles do not provide them with any of the benefits. The worst thing is that many are not even aware of these policies, especially in the interior parts of the nation. Thus a distinct economic class system exists within the backward classes. Mostly undeserving people have gained the advantages and the deserving ones are still without any significant positive change in their plight. It is interesting to note that the constitutional provisions regarding reserÃ vations which explicitly single out certain castes for special preferential treatment contradicts the documents prohibition on discrimination based on caste, race and other such other criteria. Besides, despite the creation of commissions to monitor the implementation of reservation policy by the centre the constitution gives great liberties to the individual states to determine the quantity and limits of reservation which often lead to exploitation. In reality there is no abolishment of caste system. Instead the disparity increases because of antagonistic attitude on both sides. The member of lower class strongly feel that they do not have sufficient reservation andÃ the members of upper classes feel that inspite of their hard work and merits they do not have the same opportunities. Despite constitutional prohibitions and laws, violence and injustices against untouchables continue even today, particularly in rural areas. The other minorities are demanding reserved representation too, which would ultimately lead to a situation where the seat left for the majority would not be proportional to their population. Thus the whole purpose of providing equal opportunity gets defeated. The caste system and discrimination have persisted in spite of the reservation quota. The reservation policy has brought a climate of antagonism between people belonging to different castes. Regional political parties have sprung with an agenda to promote casteism for their partisan gains. Reservation has become an electoral tool nowadays. Reservation policy has also bluntly promoted caste over intellect and hard work. As a result we are producing substandard engineers, doctors, bureaucrats and other professionals under the present reservation policy. The policy just does not stop at such opportunity. It promotes incompetent people and promotes these people over deserving and qualified individuals. The reservation policy has started to divide IndiaÃ¢â¬â¢s future generations at a very small age. Children not belonging to a reserved category have to work twice as hard compared to a kid with a reserved future with already much better financial means. May be the reservations policy has double crossed as we see today are mostly held by the upper class people because they have been thought to excel since childhood to the lack a reserved future and opportunities. If we continue to bring people in our colleges, filling our jobs and promoting the decision making positions based on the caste, soon we would be only country with the least number of competent people. We need a policy which really helps people deprived of education and means of better life. Reserving a certain percentage of seats in the higher education and jobs in the high ranks of the government is not going to help to solve problems of 85% of total backward castes population. The above picture clearly shows that the reservation policies in the last 64 years have failed for what they meant to do. It is time to try new approach to abolish reservation because merit and efficiency are in great danger. At this point of time the abolition of the reservation quota and a better system of affirmative action would be beneficial to the whole nation. We can propose that (1) Further policies or entreaties for any kind of reservation need to be discarded and disconnected. (2) There is need for a slow but a steady removal of reservation quotas. (3) Development of more and better infrastructure in the rural areas to remove disparities is necessary. Education and knowledge in a modern society would lead to removal of some, if not all, discrepancies in treatment of people based on caste, culture and religion. (4) We could also develop a system to find the neediest economically backward classes to work for that upliftment of backward classes. (5) For already entered categories (in employment) we could make the promotions of the jobs merit based. There have been improvements due to the reservation policies, which can not be denied at any cost. But it is not easy to pinpoint as to now much of these improvements can be credited to reservations and how much might have occurred without them as a result of governmentÃ¢â¬â¢s general development policies and economic growth. It can be concluded that reservation policy and its persistence is likely to increase the caste gap rather than help decrease it. The bitter truth isÃ that these policies will never help reach the long cherished goal of equality. So here comes a need for serious consideration for the reservation policy in India, especially when it comes to educational institution and employment. Let us stop it. We can not pay for our faults for long. Part XVI of the constitution deals with special provisions for certain classes, viz. Scheduled castes and Scheduled Tribes. However the constitution does not specify the persons who fall in these two categories but leaves it to be determined by the President of India. Some of the important measures made by the constitution for this purpose include. (a) Reservation of seats for SCs and STs in the Lok Sabha and State Legislatures on the basis of their population. (b) Bestowal of certain special powers on the State Governments to impose some special restrictions on the right of SCs and STs to protect their interests. (c) Provisions of special grants by the centre to the state for meeting the cost of scheme of welfare designed for the scheduled tribes and raising the level of the administration in scheduled areas. (d) Appointment of a National Commission for Scheduled Castes and Tribes by the President. It is the duty of the Commission to investigate the matters relating to safeguards for SCs and STs and to submit necessary report to the President. That report is laid before each House of Parliament. (e) To pay special attention to the educational and economic interests of the weaker sections of society to prevent their exploitation. Backward ClassesÃ¢â¬âbesides special provisions for the SCs and STs, The Constitution has made separate provisions for the improvement of all. Backward classes are not defined in the constitution but since it comes in addition to the terms STs and SCs. We may conclude that there are other backward classes as well. Article 340 provides for the appointment ofÃ commission to investigate the conditions of backward classes. Two Backward class commissions were set up under Article 340 after the constitution was adopted. The Kakkasaheb Kelkar commission, appointed in 1953 submitted its report in 1955 and used four criteria for identifying other Backward Classes (OBCs) (1) Low social position in the traditional hierarchy of Hindu Society. (2) Lack of educational progress among majority of a particular caste/ community. (3) Inadequate representation in trade, commerce and industry. (4) Inadequate representation in Government, The commission used the first criterion to relate with social backwardness. The report was considered too vague and impractical. The centreÃ¢â¬â¢s next initiative come in 1978 when the Janta Government appointed a commission under B.P. Mandal to find out how many backward classes there were in the country. The report of this commission which identified 3743 backward class was shelved till 1990 when the V.P. Singh Government brought out the order for 27% reservation in central services for other backward classes. Now, the air is now thick with the sense of dejavu which we experienced in early 90s. In one swift the present UPA Government again raised the bogey of reservation thereby again dividing India. Besides imposing a quota in cnetral universities and institutes it is also pushing companies for a job quota in the private sector. The Common Minimum Programme promises reservations for OBC in higher educational institutes. In fact it speaks of being very sensitive to the issue of affirmative action including reservations in the Private sector. It is sheer politics. The desperation is reflection of the fact that the Congress is unable to reinvent itself in its quest for a majority. Neither BJP nor Congress can boast of social diversity that is necessary to represent the plurality of India. The countryÃ¢â¬â¢s two largest parties are controlled by upper caste. The Congress believes it can alter its state of irrelevance in over 200 Lok Sabha seats by wooing back Dalits and OBCs. Instead of giving reservations, scholars say, we must take a series of sequential steps ranging from education to vocational training to financing enterprises though some parties prefer quick fix solutions. The Congress is one of them. It has taken diagnosis of a physician and approached a quack for prescription. Our population is 1.02 billion and the SC/ST population is around 240 million (24 crore). Let us have a look at some telling figures about reservations. (1) The number of OBC MPs sitting in Parliament is 110. (2) 12 Chief Ministers of the states belong to OBC in present. (3) The literacy rate of SCs is 37.82% (4) 79.88% of high school drop out are from Scheduled Castes. (5) 1 lakh estimated number of Government jobs under quota lies vacant across the country. (6) 6% class I Central Government jobs are held by Scheduled castes and Scheduled Tribes. (7) 89% class I Central Government jobs are held by others who constitute only 25% of the population.
Thursday, August 29, 2019
TEDDY BOYS (YOUTH SUBCULTURE) - Essay Example They take symbolic meanings and become stigmata for those who hate it and a token of identification and acceptance into the brotherhood for those who are part of that group. The Teddy Boys subculture emerged in the 1950s in England (Hazlehurst & Hazlehurst, 1998). Primarily it was a reaction to the confining space and declining status that the middle class English people were given. Developing a subculture is inevitable, as Dick Hebdige writes in his book Subculture: The Meaning of Style (1979), that Ã¢â¬Å"modesÃ¢â¬ and Ã¢â¬Å"categoriesÃ¢â¬ inherited from the old folks no longer serve the needs of a new generation. The Teddy Boy subculture gained roots during post-world war Britain (Hazlehurst & Hazlehurst, 1998), to raise a voice against the social injustice that was plaguing Britain. It rose from the working middle class and strived to get them better social status (Hazlehurst & Hazlehurst, 1998). The Teds were originally called the Cosh Boys later Daily Express termed the Edwardian looking teenagers as Teddy Boys (Robertson, 2007). The Ã¢â¬ËTeddy BoysÃ¢â¬â¢ was the first one with identifiable gangs that wore similar clothing. The classic Teddy Boy look would be the drake jacket and Ã¢â¬Ëbrothel creepersÃ¢â¬â¢ for footwear. In the beginning there were drapes and drainpipe trousers for the Teds (Marko, 2007). Later this look was upgraded to drapes with collar, cuff and pocket trimmings. The trousers got narrower with crepe soled shoes (also known as the beetle crushers). The hairstyle was heavily gelled (greased) with a quiff shaped into a DA, more popularly known as the Ã¢â¬ËduckÃ¢â¬â¢s arseÃ¢â¬â¢ (Marko, 2007). The Ã¢â¬ËEdwardianÃ¢â¬â¢ style adopted by the Teds was a Ã¢â¬ËtakeÃ¢â¬â¢ on the kind of clothes worn by a certain section of the British army (the Guards) after WW2, with deliberate references back to a time when the upper class were Ã¢â¬Ëin chargeÃ¢â¬â¢. Worn by the guards the style had strong
Wednesday, August 28, 2019
Market Research For (Verismo Machine) by Starbucks - Essay Example The company introduced Verismo with the intention of becoming a market leader even in single serve coffee making segment (Barth, 2012). Verismo machine is a single serve coffee maker which makes coffee and espresso. As a pod is dropped into the machine, it comes out as coffee or espresso, which contains the signature taste and aroma of Starbucks coffee (Starbucks Corporation, 2012). The machine is available in different model which ranges from Ã £149 to Ã £349. The model ranges from basic to high-end ones. The pods of powdered milk and coffee are also sold by Starbucks, which is used by the customers to produce excellent coffee at lesser cost then the store (Money Watch 2012). The biggest competitor of Verismo in the single serve coffee maker segment is Nespresso, which was launched by Nescafe, Nestle. VerismoÃ¢â¬â¢s first advantage is that bears the name of Starbucks, which is a market leader in coffee making. Starbucks is claiming that Verismo offers the same taste and aroma as coffee is served in its stores. Customers pay higher price for a cup of coffee in Starbucks because of their quality, and if they are getting it through a machine which is a onetime investment, customers would surely opt for it. Secondly, the product indeed has been highly appreciated by users because it do offer the quality which it promises and the cost per cup of coffee is also found to be less that having it at a Starbucks store (Clay, 2012). Verismo Machine by Starbucks was a huge hit in the market and the company sold over 150,000 machines in the first quarter of its launch. Howard Schultz in StarbucksÃ¢â¬â¢ first quarterÃ¢â¬â¢s conference said that they were planning to take Verismo to a multi-billion platform, which depicts that Verismo started really well in its initial year (Warman, 2013). Verismo is counted as a threat in the single serve coffee segment by the market leaders like Nespresso, or Green Mountain.
Tuesday, August 27, 2019
China is pursuing a policy of 'creeping assertiveness' in the south China Sea - Essay Example It is considered to be the only place that has the depth and expanse to baffle the Japanese and American naviesÃ¢â¬â¢ ability to reel in the Chinese navy. In an interesting comparison of ChinaÃ¢â¬â¢s maritime geography and that of imperial Germany, they argue (convincingly) that China holds an advantage (strategically) in naval competition and rivalry in the South China Sea (Bussert 2011, p.16). According to Antony (2010, p.24), the South China Sea has been identified as a weakness in the strategy of Ã¢â¬Ëpeaceful riseÃ¢â¬â¢ that has been adopted by Beijing. The announcement by Zhou Enlai that the waters of the SCS were a Ã¢â¬Ëvital interestÃ¢â¬â¢, China has used its claims to the water body as a stern warning to other nations that its regional dominance could be more aggressive than is insinuated by Chinese leaders. What has been more surprising (and alarming) is the fact that it is clear Beijing has succeeded in splitting the diplomatic harmony and solidarity in ASEAN w ith regards to the issue. Other powers in Asia should take note because their reaction to this matter stands to play a significant strategic role in Indo-PacificÃ¢â¬â¢s future landscape. ... Key words; Assertiveness, South China Sea, PLA Navy Introduction China is one of the most rapidly economically developing nations in the world with a Growth Domestic Product of 1.8 percent expansion in the first quarter of 2012 (Clarke 2010, p.34). Historically, ChinaÃ¢â¬â¢s average quarterly GDP growth has risen from 2.15 percent to a record 2.20 percent (considered the highest in history). ChinaÃ¢â¬â¢s economy is rated the second largest in the world after the economy of the United States of America. In the last three decades, ChinaÃ¢â¬â¢s economy has varied to a great extent from a centrally planned system that was largely closed to the international business towards a more market oriented mode which has a rapidly growing sector. A major component that supports ChinaÃ¢â¬â¢s economic growth been ascribed to its high exports. In the quest to promote more economic development as well as the social advancement within the republic of China, the government has taken measures dir ected towards territorial protection, control and expansion (Cordesman 2007, p.31). Discussion The Chinese government has shown aggression towards territorial expansion especially the South China Sea (SCS) leading to an intensive political concerns and creation of a negative effect on the relationship between China and other countries surrounding it (Klare 2001, p.42). The Chinese government has practically claimed the South China Sea by using modes that may lead to military confrontation between China and the ASEAS such as Philippines. This condition has resulted to unresolved conflict between China and especially the Philippines over time. The claims over the South China Sea by
Monday, August 26, 2019
The Best Form of Governmen - Essay Example In this form of government, the rule is for needy people. Under conditions of law or aristocracy, the ruler is interested in the outcome of his actions in the name of his country (Mindell 1996; Randall, 1960; Robinson, 1995). Aristotle on government Government should develop virtue and common good. The rulers are interested in people with enough knowledge, power and time to follow their ideas. Nowadays there is a need to promote the development of the best ruler. The politics must be open for the Ã¢â¬Å"readyÃ¢â¬ rulers, who are focused on their own ideas and the developments in the name of the virtue. The politicians should not cash in on the misery of their citizens; they must develop their policies in the name of the common good. The rulers have to invest their money into the development of the common virtue, because the laborers are too busy and they will not be able to contribute much into a common good. In his Book III we can read: Ã¢â¬Å"Ã¢â¬ ¦a state is a body of citizens sufficing for the purposes of lifeÃ¢â¬ (Aristotle 1997, p. 43). Concerning the negative forms of the government, Aristotle claims that under conditions of tyranny, the interests of the monarch are supported. In terms of oligarchy, the interests of wealthy people are taken into account. ... It is a kind of a mixture of democracy, monarchy, and oligarchy. I think that in the modern context it is possible to apply the ideas of Aristotle successfully. In case the modern rulers do not consider democracy as the most successful form of the government, there is a need to implement the mixed forms of ruling (Jackson, 2001). Aristotle justifies his choice of a mixed government employing the example of the social roles: for instance, a father shows different roles in his relations with his children and his wife: in the first case these rules are royal and in the second case these rules are constitutional ones. Moreover, we can analyze the following quote by Aristotle: Ã¢â¬Å"Ã¢â¬ ¦but in most constitutional states the citizens rule and are ruled by turns, for the idea of a constitutional state implies that the natures of the citizens are equal, and do not differ at all. Nevertheless, when one rules and the other is ruled we endeavour to create a difference of outward forms and n ames and titles of respectÃ¢â¬ (Aristotle 1997, p. 185). Consequently, we can claim that rules of governing are changing during a certain period of time. The constitutional government implies relations of a wife and a husband. There are permanent inequalities within the governmental structure. In their essence, these relations are equal, but in fact there is always a kind of difference in the relations between wives and husbands. Consequently, Ã¢â¬Å"polityÃ¢â¬ is the best form of the government, as Aristotle claims. Every citizen has a right to rule. Ruling is a complex activity and there are many social layers involved in the process of governing. Therefore, an option of a social control over different forms of the government place both rich and
Sunday, August 25, 2019
Innovation Process Design - Essay Example Key Components of Theories Innovation is a common way for companies today to initiate in order for them to reach a specific competitive advantage (Weerawardena & Mavondo, 2011). In order to achieve this, many firms are trying to establish the point that they need to ensure execution of strategies that are competitive enough to provide them the competitive edge over the other established firms in their industry or specific niche (Salunke, Weerawardena & McColl-Kennedy, 2011). In many technological-related companies, innovation has become the major point of their business, because that is one of the substantial ways by which they can compete and even set among themselves a cutting edge advantage over the other competitors to ensure a smooth flow of their operation or achieve a potential market share. At the most specific level, firms that are into innovation or are risks lovers are expected to provide unique product or service offerings (Cucculelli & Ermini, 2013). In this way, they ca n offer highly differentiated product or service offerings that matter to people. Many technological-based firms today from time to time have to produce offerings that are new to the market for the target segments to try and they remarkably eliminate old products in order to introduce success or opportunity for the new ones. This is common to take place in the mobile phone industry where old models will have to be phased out and leave a path for new products and gain from them. Establishing a new product or a unique one is therefore a form of strategy that a firm must embrace. Strategic business innovation is therefore one of the ultimate moves of technological-based companies today. They want to set a new way for them to be able to provide something that is new that matters a lot to their target market. In doing so, a clear business plan must be associated with the goal to innovate. Innovation is not just a simple process, but a complex one that it requires the most appropriate bus iness model. Prior to the emancipation of this business model, every firm that wishes to go for innovation will therefore have to set a clear business plan for themselves. In this way, they can be guided on what to do next especially in cases when there is a need to involve the right plans. Business plans are integral components of a successful innovation process. After all, it requires substantial planning moments prior to the actual innovation process. These plans need to be considered because they fuel the essential growth or development of the organization as far as the concept of innovation is concerned. Innovation therefore is a forward approach that positively aims for advancement and growth (Colombelli, Haned & Le Bas, 2013). Anything that hinders this growth will have to be remarkably considered a contradictory approach against innovation. The backward approach might have to consider plans, actions or initiatives that are to produce backward results. In this case, no innova tion will be necessary, because innovation as a process of growth development requires more engaged idea to embrace something new or fresh ideas for future enhancement of the business. In this regard, proper orientation of the company concerning their evaluation process is necessary or required because such move will have to ensure the emancipation of the right program or actions to be taken into account. Concerning actions that are allowing companies to move forward with
Saturday, August 24, 2019
The Convergence of Physical and Information Security - Research Paper Example There before, organizations and enterprises used to protect their assets primarily with the use of physical efforts such as guns and gates. However, this has become an obsolete idea today since people today are now using passwords and effortless systems to protect their assets. ISSA, ISACA, and ASIS are examples of the three main security organizations that endorse security convergence. A few years ago, the three organizations came up with the Enterprise Security Risk Management with the intention of enhancing effortless security. Using the example of Smart Cards, we see a very good example of the convergence between the buildings (physical), the PCS and the networks (information). Before we go deep into the topic, it would be important we understand the point of convergence between the two concepts as this will help us learn why the discussion is so important today. When we talk about the physical security, we mean the traditional form of protection that focused primarily on the use of effort to protect the assets owned by an organization (Conference Board of Canada, 2011). During this time, organizations, mainly used guns, electric fences, security fences and guns to guard their territory. Physical security officers will in that case be made up of law enforcement officers. These officers had specific departments who will in return report to risk management offices and departments. The use of such systems and tools was predominant a few decades ago. Today, things have widely changed and people are no longer using effort to protect their assets. This has been defined as information security. With the use of information security, firms are widely using passwords and software gadgets to protect their assets from unauthorized access and use (Contos, 2007). Staffs under information security have well established technical backgrounds as their intention is to use as a minimum effort as possible in protecting the assets an
Friday, August 23, 2019
Success of Marriott in the Hospitality - Research Paper Example As a payback to the company, MarriottÃ¢â¬â¢s employees provide great service and satisfy MarriottÃ¢â¬â¢s customers; thereby providing a type of symbiotic relationship. MarriottÃ¢â¬â¢s mission thereby works to lead a company-wide approach to their vision. This is but one of the reasons why Marriott is able to provide effective progress to be the best hospitality company in the world and create a public perception that this company builds its corporation in positive ways. The success of Marriott in the hospitality world does not come only from the dedication of its employees, however. Besides showing a great deal of concern for these shareholders, Marriott is an innovative corporation. In this way, the film follows the trend of recent innovations and technological changes in the current world. By being flexible to transform their regulation and company regulation based on the recent global economic situation, hospitality trends, and behaviors of the employees, the firm has stayed fresh whereas others have faltered. The board of the directors of Marriott believes that the world is changing, thus Marriott has to follow suit if it intends on staying competitive. After doing research on final presentation in my ethics class, there was a lot of interesting facts concerning Marriott; however, for purposes of this paper, this author will be addressing but two of these major positive factors in detail. Additionally, a scandal will also be discussed. In addition, besides discussing those positive factors that have briefly been referenced above, my group research shows Marriott has committed into fraud scandal. First, with all, the very basic aspect of building a big company is encouraging their workers to put their best on doing jobs.Ã
Ismg 3000 - Essay Example Conversely, Barton himself was hired as a function of the belief that he could inject some fresh blood and new perspective into the way that the organization operates. Due to the fact that the same tired techniques had been tried over and over under DaviesÃ¢â¬â¢ leadership with little to no affect, Barton was ultimately viewed as a way in which a blank slate could be created and the organization could move forward from a fresh point without the baggage that Davies engendered. This is due to the fact that IT touches so many different aspects of the firm in somewhat imperceptible ways. Whereas the affect of a new marketing strategy can be uniformly measured, the effect of procurement of new and more efficient IT systems and the integration of a greater level of IT expertise within the field means that the overall synergy that is created is something that is difficult to narrow down to but a few statistics and figures. Moreover, when one realizes that the rate of expenditure as compared to the rate of return, this too is problematic due to the fact that the rate of return on investment is not immediately or rapidly realized. Ultimately, it does matter due to the fact that as soon as key functions of IT are removed, the organization itself would necessarily come stumbling to a halt. An example of this can be seen in the way that a firm would no longer be able to support a key data package that is necessary for operational effectiveness. With such an integral and key component of the firm no longer operations, the means by which business is conducted is necessarily reduced; thereby reducing the competitive advantage of the firm and the total outreach and scope that it could hope to appeal to. With regards to my current firm, this can best be described as an IT situation that is strategic. Rather than providing a support function or merely aiding the organization in developing a product, my firm is one that provides a hands
Thursday, August 22, 2019
Alcoholic Homebrew Lyrics Response Essay hi everybody, welcome to the wednesday meeting, yep yep. um everybody give it up for eli, first of all, whos been offthe meth for a whole month now, and his wifes getting outof jail next thursday, is that right? anyway weve got a new speakertoday so big round of applause for this young man here. its been about a week nowIm startin to get weak nowI wake up at 11:30 thats when I start getting thirsty andI dont know what it isall I know theres a bottle in the fridgewith my name on itif I want itcause Im an alcoholic and I knowyeah hi my name is Tom Im an addictcant really remember just how long I been at itIm guessin that this happened like a pattern and a problemcause my fathers a fiend andso was mum so its somethin like part of my genesbut its hard to get clean but its hard to sustainbut at the end of it I really can only answer to meand its the way it is I truly learned thatso dont give me all that. Channeling the universe crapthats a load of s**t I aint tryna to pass the blamelike its just a part of fateand I aint got a part to playcause if thats the case then I really cant escapemight as well just start the day with a glass of chardonnaylike my dad does thinking that time can never catch usfollowing my nose kinda like my bro. Haz doesbut Im scared Ill end up in a home like daz wasthat dude went mad once,but na f**k that buzzIm looking for a little morebut s**t is rawcause its just a little short walk to the liquor store,a little more to middlemoremy mind keeps saying this is what Im living for but my liver isnt sureits 6 In the mornin were about to close the clubbut we know the owner so were there until they open upand thats why Im broke as f**k bank account Golden Duckblowing bucks on these drugs going nuts tryna sober upI woke up Friday morninglying on the floor in a one man cellhe said I punched that C**Tstablehow many lies can one man telland now Im on probationIm getting rehabilitationasking for some explanation. I saidI just like getting wastedso dont ask why Im stonedand look lady I dont knowsign my forms so I can gocause I got court at 9 tomorrowand if the judge is a b***h I could even jump of a bridgeor go get on itcause Im an alcoholic and I knowI f****n hate this placef****n hate this place more than f****n ace of bassf**k what this lady says I bet shes smoked moresmack than Ive ever drunk beerand then she asks me if I been high this week; f**k yeah! Ive been high like a pilotwhy try to deny I wont lie iv been wiredpopping E like vitamin cyou wanna read my mind like a psychicyou really wanna know why. I get highcause I like itdoes it really take a f****n Einstein to figure that outhow much more s**t can you spit out your fat mouthwho would have known youd get addicted to crackWOWwhat a f****n breakthrough everybody clap nowjust give it up for jack for giving up the crackits been a whole week since he had a huff and snaprolled his dead ex-wife in some bubble wrapfilled a duffel bag with all her husbands stuff and gapped, yeahits been a month and they got nothing backjust a lecture from some alchie and a drunken cattryna to tell me how to me live my lifebro cut the crapSobriety? what the f**k is that? Cant even spell it broi f****n hate this place like the f****n ellen showstraight upi f****n hate this place like f****n baby face,and eric claptonnah f**k this s**t i aint even finished this s**t,ya knowi wont go and get stoned with some hippie b***h with ankle bracelets English Assignment 91106 Text type: Song lyrics Title: Alcoholic Ã¢â¬â Homebrew This song really helped to picture the life of a man stuggling with alcoholism/being an alcoholic. The song explains how he ended up as an alcoholic, his struggles with day to day life trying to become sober, and the consequences of not being sober and giving into the temptation of alcohol. The writer blames his parents for the way that he has acted around alcohol, Ã¢â¬Å" Im guessin that this happened like a pattern and a problem cause my fathers a fiend and so was mum so its somethin like part of my genesÃ¢â¬ and Ã¢â¬Å" might as well just start the day with a glass of chardonnay like my dad does thinking that time can never catch usÃ¢â¬ , the writer believes that his genetics caused him to be an alcoholic, but also that his fathers habit of drinking chardonnay first thing in the morning has led him to believe it is normal. I think it is very logical for the writer to blame his parents for this, especially the fathers bad habit of drinking chardonnay in the morning, as children are meant to learn from their parents, this is what the writer has learnt from his father. This is all relevant to families all over the world, as in every culture children are influenced by their parents actions, and if their parents are heavy drinkers then its normal for their children to believe that large quanties of alcohol consumption is normal which in many cases leads to alcoholism. The writer continues to write about the struggles of trying to be sober Ã¢â¬Å" its been about a week now Im startin to get weak now I wake up at 11:30 thats when I start getting thirstyÃ¢â¬ , after only a week of being without alcohol, life is getting unbearable and he is starting to feel week, getting the urges to consume alcohol as soon as he wakes up in the late morning. Ã¢â¬Å"all I know theres a bottle in the fridge with my name on it if I want itÃ¢â¬ and Ã¢â¬Å"but its hard to get clean but its hard to sustainÃ¢â¬ the writer finds it hard to continue being sober when he knows that there will always be a bottle of alcohol somewhere to turn to, if he decides he wants it. I really do feel for the writer, as he has a serious problem, and is clearly struggling with day to day life trying to stay sober. The constant repitition of the line Ã¢â¬Å"cause Im an alcoholic and I know itÃ¢â¬ is the writer trying to justify his actions, which is common for alcoholics to do. I do sympathise and unstand the writer, as alcoholism is a disease, yet I believe he gives up too easy and gets himself into un-needed trouble which relates to the youth in New Zealand. The youth in New Zealand begin drinking alcohol at an early age, which is some cases leads to alcoholism causing many teenagers and young adults to get into trouble with the law as the writer soon explains as he finally gives into the urges of drinking alcohol Ã¢â¬Å" I woke up Friday morning lying on the floor in a one man cellÃ¢â¬ Ã¢â¬Å" and now Im on probation, Im getting rehabilitationÃ¢â¬ . This is explaining the consequences of heavy drinking, which is a common thing in New Zealand and many other countries. Heavy drinking can lead to serious consequences such as ending up in jail, on probation and rehab as the writer has mentioned. I feel like this song explains the stuggles of alcoholism, which is a huge problem in many countries and needs to be taken more seriously. Alcoholism is a disease and needs to be treated like one so that sufferers of the disease get the help they need to stop them from getting into trouble.
Wednesday, August 21, 2019
WTO in international trade International Business Environment: Topic: Role of World Trade Organization in international business and the argument that whether WTO is helpful or a hindrance to international trade. The World Trade Organization is an intergovernmental organization that assists the nations in regulating trade in manufactured goods, services (including banking, insurance, tourism and telecommunications), intellectual property, textiles and clothing and agricultural products (Richard Schaffer, 1996). The World Trade Organization (WTO) is a replacement for GATT (General Agreement on Tariffs and Trade ) as the worlds global trading body in 1995, and the current set of governing rules resulted from the Uruguay Round of GATT negotiations, which took place throughout 1986-1994. While WTO is relatively young organization the multilateral trading system was originally set up under GATT about 50 years ago. The GATT preamble (1947) states that trade and economic endeavour should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income. These basic objectives were reinforced in the Marrakech Agreement, which esta blished the WTO. The WTOs overriding objective is to help trade flow smoothly, freely, fairly and predictably (www.wto.org), its central principle is the dispute settlement mechanism, a system that underscores the rule of law and is based on clearly defined rules and timetables for settling disputes. WTO members agree that they will use the multilateral system to settle their trade disputes instead of taking unilateral action. Reducing the scope for unilateral action is an important guarantee of fair trade for less powerful countries (Yin and McGee, 2001). WTO aims to achieve its goals by, * Administering trade agreements * Acting as a forum for trade negotiations * Settling trade disputes * Reviewing national trade policies * Assisting developing countries in trade policy issues, through technical assistance and training programmes * Cooperating with other international organizations The role of WTO is to facilitate international cooperation to open markets, provide a forum for future trade negotiations between members, and provide a forum for the settlement of trade disputes. The WTO has a stature equal to that of the International Monetary Fund or World Bank and will cooperate with those agencies on economic matters. The WTOs membership includes those countries that previously belonged to GATT and is now open to other countries, if their membership is accepted by two-thirds majority votes of the members. The WTO has 153 members representing 95% of the total world trade and the observers are seeking membership. WTOs operating system is the best in settling disputes. Trade disputes are brought before the WTO at approximately three times the rate that had been handled by the GATT typically all throughout its existence. Recently, the United States has been the greatest proponent of this system. Many cases have been brought by the United States seeking fulfilment wi th trade agreements and market access. The United States has had a good deal of success in this forum, winning majority of its cases. U.S. trade advocates have achieved market access in areas ranging from agriculture to information technologies. In contrast, the WTOs predecessor, the GATT, often disdained as the Ã¢â¬ËÃ¢â¬ËGentlemans Agreement to Talk and Talk, failed to resolve many disputes and lacked credibility as a mechanism for resolving trade disputes. Parties to a GATT dispute could simply reject and block acceptance of the panel report. The case could be reargued numerous times until the parties tired of it and an agreement was reached. The WTO is built on the GATT principles of open trades which include trade without discrimination, gradual transition through negotiations, predictability through transparency and binding agreements, promotion of fair competition and encouraging development and economic reform. The GATT reduces the propensity of national governments to put tariffs on physical goods to protect domestic companies, and other institutions are furthering this opening process. Thus, the Uruguay trade agreement was reached by 68 countries committing themselves to liberalising markets in telecommunications. The WTO is negotiating for the removal of tariffs on other barriers on wide range of goods and services. It is also seeking a world agreement on rules governing foreign investment both to encourage it and, where thought necessary, to control it. Regional groupings have grown in economic importance in recent years like the EU, NAFTA, ASEAN being examples. An alternative to seeking trade liberalisation through the WTO is for countries to enter into trade agreements within the regional grouping. However, regional trade groupings must be notified to the WTO. Trade agreements within regional groupings are by nature discriminatory. Countries may decide to make reciprocal tariff reductions in their trade with each other, with these concessions not necessarily being extended through other countries. In this context regional groupings can be classified as Free Trade Area, Custom Unions, Common Market, Economic Union and Political Union. It should also be noted that regional groupings are strengthening relations with each other (e.g. ASEAN Latin American) and are signing inter-regional cooperation agreements. Thus, although the WTO has its goal of liberalising trade between all nations, today the majority of trade agreements are bi-l ateral. WTO claims that its predecessor GATT and the WTO itself have helped to create a strong and prosperous trading system contributing to unprecedented growth. According to WTO data, the world trade has experienced an exceptional growth during the past 50 years. Merchandise exports grew on average by 6% annually and total trade in 2000 was 22-times the level of 1950. Nevertheless, while the WTO role in world trade is obviously important, its contribution to world trade growth might be questioned. Particularly there is enormous controversy over the effectiveness and side effects of WTO regulations. Firstly, since the establishment of the WTO in 1995 the average annual number of international trade disputes has raised by more than 700 percent (Yin and McGee, 2001). Secondly, there is growing evidence that WTO has a limited ability to deal with rising conflict with developing economies and offer effective solutions to these disagreements. For example Kwa (2001) and Mattoo Subramanian (2003) provide an extensive discussion of this issue. Finally, Rose (2003) undertook a comprehensive empirical study employing gravity models and came to conclusion that there is no strong empirical evidence that GATT/WTO has systematically played a strong role in encouraging trade. The next section discusses the mentioned above issues in detail. It seems that majority of economists recognize GATTs/WTOs contribution to liberalization and promotion of trade between countries. For instance, Bagwell and Staiger (1999) noted that the central role played by the GATT in shaping postwar trade policy is widely accepted. Krueger (1998) writes: Ã¢â¬Å"Ã¢â¬ ¦the growth and liberalization of the international trading system has been the most prominent success of the postwar period Ã¢â¬ ¦ the great liberalization of tariffs and trade in the post-war period was achieved under the auspices of the GATT Ã¢â¬ ¦Ã¢â¬ Furthermore, according to Bagwell and Staiger (1999) GATT has strong theoretical underpinnings for success in promotion of trade. Bagwell and Staiger (1999) employed general equilibrium trade model and came to conclusion that GATTs principle of reciprocity can be viewed as an effective mechanism for promoting trade. One of the underlying principles of WTO policy is agreement that WTO members will use the multilateral system to settle their trade disputes instead of taking unilateral action. Multilateral negotiations reduce the scope for unilateral action, which is an important guarantee of fair trade for less powerful countries. Nevertheless, Bagwell and Staiger (1999) stress that countries can implement efficient trade agreements only if they also abide the principle of non-discrimination. The recent developments show that there is growing number of disputes between the countries; majority of them directly concerned with polices that considered to give advantage to one country at the expense of the others. Yin and McGee (2001) notes that during the 47-year existence of the GATT, there were altogether 236 dispute cases reported to GATT an average of 5 cases per year. In contrast, there were 220 cases filed during the first six years of the WTO seven times the annual average reported to GATT. It is reasonably to expect, that growing number of conflicts will eventually result in decrease of WTO operation efficiency, since it becomes increasingly more difficult to find a solution that meets requirements of all parties. Therefore, the surge in trade disputes raises concerns about the WTOs ability to police world trade and to settle down conflicts. Nevertheless, Yin and Mc Gee (2001) argue that trade volumes, trade imbalances, trade dependence, and tariffs and non-tariff b arriers are the main factors in disputes. In addition, countries with large trade volume, large trade imbalances, high trade dependence, or that have more measures protecting their market are more likely to be embattled in trade disputes than other countries. Consequently, growing conflicts between the countries might be naturally related to increase in trade activities. While USA is accounted to be involved into majority of conflicts, role of the developing countered in WTO becomes increasingly important. According to Mattoo and Subramanian (2004) there are several challenges in accommodating developing countries in WTO. First small countries do not have much to offer to as trading partners; their opportunities to benefit from engagement into WTO the operations are quite limited. Second, the interests of these countries are only imperfectly aligned with liberalization of the multilateral trading system. Since, developing preferential access to the markets of the industrial countries, further liberalization of the trade and reduction of tariffs and barriers does not necessary increase access to these markets. The developing countries disputes are complicated by several factors. First of all, it is very difficult to measure effects the trade policies. Rose (2002) employed over sixty measures of trade policy and has been unable to find convincing evide nce that membership in the multilateral trade system is associated with more liberal trade policy. While he acknowledges that that members of the system usually enjoy slightly more economic freedom using the Heritage Foundations index. Secondly, there is ongoing debate among academics on the effect of free trade on economy growth. Easterly (2002) provides an extensive overview of this topic, he presents theoretical argumentations on both sides of free trade debate. According to Easterly(2002), those opposed to free trade argue that since the price of primary commodities tends to decrease over the long run, countries should put up barriers to manufactured imports and thus stimulate the development of their own industries. Free trade opponents believe in the Ã¢â¬Å"infant industryÃ¢â¬ argumentation, which stresses that there is a learning curve to developing industry and allowing manufactured imports would decrease chances of domestic industry to compete fairly. Supporters of free trade believe that economies should focus on the specialization of their production. It allows countries to export products, which can produce more efficiently and import other products they are not good at producing. Finally, trade barriers distort prices which lead to inefficient allocation of the resources. While there are several empirical studies that support the link between openness and economic growth, a comprehensive study by Rodriguez and Rodrik (2000) discredits majority of them. Rodriguez and Rodrik (2000) show that Ã¢â¬Å"the indicators of Ã¢â¬Ëopenness used by researchers are poor measures of trade barriers or are highly correlated with other sources of bad economic performanceÃ¢â¬ and often, Ã¢â¬Å"the methods used to ascertain the link between trade policy and growth have serious shortcomings.Ã¢â¬ Furthermore Rodriguez et al (2000) argued that authors in this literature have used inappropriate indicators of trade policy, the selection of indicators was biased , and therefore the results tent to show statistically significant relationship between trade liberalization and growth. Another controversial argument is historical evidence. Rosenberg (2002) notes that United States, Germany, France, and Japan all became wealthy and powerful nations behind the barriers of protectionism, while South Korea and other East Asian countries successfully used trade barriers to create export industries and built local know-how. Furthermore, Weisbrot, Naiman, and Kim (2000) show that Ã¢â¬Å"eighty-nine countries experienced decrease in per capita rate of growth by at least five percentage points from the period 1960-1980 to the period 1980-2000, the latter period is widely referred as the area of globalization. For example, Dollar and Kraay (2002), argue that globalization which started in 1980 has helped to promote economic equality and reduced poverty. Considering complexity of the problem, it is reasonable to conclude that free trade does not necessary lead to economical growth and countries are not likely to benefit equally from reduction of the trade barriers. Supporters of more liberal world trade argue that it brings access to markets and cheaper goods and services. The growth in trade that follows benefits both consumers and workers by encouraging innovation and investment. Others take much more critical view, pointing out that move towards liberalization through bodies such as WTO is driven by rich countries. They believe the agreements reached serve the interest of multinational businesses and richer economies rather than indigenous producers in local economies. Therefore, further globalization of trade is likely to bring up new conflicts, as the trade volumes grow regulation of disputes becomes increasingly complicated, which is reflected in the collapse of the negotiations in Cancun 2003 and tense negotiations in Hong Kong 2005. Finally, one of the most important questions is whether WTO is actually somehow related to the increase in the world trade. Rose (2003) stressed that GATT/WTO is not associated with substantially enhanced trade, once standard factors have been taken into account. Rose (2003) conclusion is based on analysis of gravity model, which is recognized by many practitioners as a useful tool for analysis of international trade. Rose (2003) give two possible explanations for GATT/WTO failure to promote trade. First is that GATT/WTO has not typically forced most countries to lower trade barriers, especially developing countries that have received Ã¢â¬Å"special and differential treatment. The second reason is that members of the WTO seem to extend most favored nation status unilaterally to countries outside the system, even though they did not have formal rights to do it. At the same time, Rose (2003) acknowledges that his analysis is based on assessment of GATT policies, and since WTO has more wide-reaching framework to resolve disputes about trade in goods, services, and intellectual property its impact on trade will be more substantial. Nevertheless, the recent research on the topic by Subramanian and Wei (2003) brings up new perspective on the subjects, according to their findings Rose (2003) analysis is incomplete and can be misread seriously. This conclusion was based on two grounds first of all Subramanian and Wei (2003) stress that econometric methodology should be refined to incorporate the country fixed effects identified by Anderson and Wincoop (2003). Secondly the non tariff barriers such as quantitative restrictions for the balance of payments should be taken into the account. Subramanian and Wei (2003) conclude that GATT/WTO has done a splendid job of promoting trade; membership in GATT/WTO is associated with 40% increase in imports for industrial countries. Nevertheless it is obvious that developing countries benefited to the far less extend. Developing countries in the context of trade are at the bottom of the value chain. Perhaps an exception being the recent developments in service industries particularly concerning I.T. In general they export low-value, primary products (e.g. metals, agricultural produce), whilst the developed economies trade in high-value products. Although, the WTO promotes the ideal of a level playing field in trade, developing countries make the case that the world trade system is stacked against them. They make the point that GATT barely touched barriers to developed countries markets in textiles and agricultural products, and challenge the WTO on protectionism. Developing countries make up more than 75% of the WTO membership, but the real muscle, as evident in many WTO adjudications, is exerted by the main trading nations/groupings (U.S., E.U., Japan). Discussion made above in context to issues with WTO is of prime importance but there could be few more issues in this context which cannot be neglected. Such as the issue of labor standards is one of the most controversial issues. The WTO is accused of casting blind eye exploitation of labor and of undermining efforts to protect the health and safety of the workers. Human Rights group and International Labor Organization (ILO) are pressing for action in form of multilateral agreements on labor standards. The debate at WTO is whether WTO is the right vehicle for enforcing labor standards, and what effect such action would have on the competitive advantage of labor-intensive industries. The WTO is now in discussions with ILO on enforcing the core labor standards. Another contentious issue for the WTO is that of environmental protection and trade policy. Several high profile cases on import bans for environmental reasons have been lost recently. The view held by many countries is that the WTO is not sufficiently sympathetic to the environmental issues. Those in favor of trade liberalization argue that environmental issues should be dealt with by proper labeling giving consumer the choice. As it follows from the above discussion, GATT/WTO played an important role in the world trade. Nevertheless, it is very difficult to evaluate the contribution of GATT/WTO to promotion of free trade in real numbers. Furthermore, it is important to stress that free trade does not ultimately leads to economical growth or creates value itself. Therefore, WTO attempts to manage highly sensitive issue, since countries are likely to promote free trade when they can somehow benefit from it and negotiate on tariffs and barriers whenever they aim to protect their own markets. Finding the right balance while accommodating WTO members requests becomes increasingly difficult as the number of disputes continues to grow. Therefore, WTO success will largely depend on the ability to offer a flexible framework, which would be able to consider positions of different parties involved into negotiations.
Tuesday, August 20, 2019
Is Television Viewing Harmful for Children Television is one of the greatest inventions of all time. Through television we have witnessed history in real time. The technology of television has broadened our horizons by bringing faraway places into our homes, revealing the diversity of science and nature, and exposing us to sights and sounds that we can only dream about. Television has the power to inform, inspire, and unite. As adults, we are aware of the mesmerizing effects of television. Television has become a staple in our lives. In fact, most of us have televisions in every room of our house. The average family has the television on for 6.2 hour s each day. As adults, television can influence what we buy, where we go, and what we eat. With the television having such an impact on our lives, it is bound to have an effect on our childrens lives. Todays children are exposed to violence, sex, and drugs through television. How much does television influence children? We are able to make informed decisions and understand the ra mifications of our actions, but children are not. So, is television viewing harmful for children? This has been the question and debate for parents since the television was first introduced in the 1940s. To make an informed decision, it is important for us to understand the positive and negative effects of television viewing for children. With the recent explosion in satellite and digital TV, we now have access to a plethora of both good and bad quality content. Parents should seek out good quality TV and whenever possible, enjoy them together as a family. Some studies indicate that television viewing properly used in moderation can stimulate a childs education and creativity. Television today offers children a wide variety of wonder, amusement, and education. The mysteries of the deep sea, the wonders of outer space and the animal varieties in the natural world can delight children and stimulate their imagination without exposing them to any danger. Kids may be entertained for hours with programs that engage their sense of seeing and hearing. Parents are able to go about their daily routines at home, knowing that their children are safe and occupied in one location. Programs designed to teach children such as Sesame Street and Dora the Explorer Page 2 expose Children to vocabulary, math, science, history, art and diversity before they go to school. Because of its ability to create powerful touchstones, TV enables young people to share cultural experiences with others. T.V. can teach children important values and life lessons. News, events, and historical programming can help make young people more aware of other cultures and people. Television viewing is also beneficial for the family. Shared viewing gives family members of all ages an opportunity to spend time together. Despite its advantages, too much television can be detrimental. Children under 6, including two-thirds of infants and toddlers, watch an average of 2 hours a day. Kids and teens 8 to 18 years spend nearly 4 hours a day in front of a TV screen, and almost 2 additional hours on the computer and playing video games. The American Academy of Pediatrics recommends that kids under 2 years old not watch any television and that those older than 2 watch no more than 1 to 2 hours per day. The first 2 years of life are considered a critical time for brain development. TV and other electronic media can get in the way of exploring, playing, and interacting with parents and others, which encourages learning and healthy physical and social development. As kids get older, too much screen time can interfere with activities such as being physically active, reading, doing homework, playing with friends, and spending time with family. Children who consistently spend more than 4 hours per day watching tel evision are more likely to be overweight. Health experts have long linked excessive TV watching to obesity. While watching TV, kids are inactive and tend to snack. Theyre also bombarded with ads that encourage them to eat unhealthy foods. The problem isnt just how long children are watching TV but, what they are watching. The average American child will witness 200,000 violent acts on television by age 18. Kids may become desensitized to violence and more aggressive. TV violence is often perpetuated by the good guys as fun and an effective way to get what they want. Young kids are particularly frightened by scary and violent images. Behavior problems, nightmares, and difficulty sleeping may be a consequence of exposure to media violence. TV is full of programs and commercials that depict risky behaviors ,such as sex and substance abuse,risky and fun. For example, studies have shown that teens who watch lots of sexual content on TV are more likely to initiate intercourse or participa te in other sexual activities earlier than peers who dont watch sexually explicit shows. A recent study by the Center on Alcohol Marketing and Youth found that youth exposure to alcohol ads on TV increased by 30% from 2001-2006. As mentioned earlier, parents should search for high quality TV programs for their kids. How do you choose good TV? David Kleeman, Director of the American Center for Children and media, says ask yourself the following questions: Does this program actively engage my child, physically or intellectually? Page 3 Television viewing doesnt have to be passive. It can prompt questions, kindle curiosity, or teach activities to pursue when the set if off. Do I respect this program? Parents dont have to like every show their children like. But parents should trust that a programs creator understand and respect how children grow and learn. Does my child see others like himself or herself on television? Young children believe that television reflects the real world. To not see people like themselves may diminish their self-worth. How do the makers of this program regard my child? Some program creators see young people as consumers to be sold to. Others see them as students to be educated, as future citizens to be engaged in the community, or simply as children. whose work is play. Parents should monitor the childs television viewing. They should limit the amount of time that the child watches TV. To avoid the negative aspects of television and commercials, parents can record shows without the commericals or buy childrens videos or DVDS. Is Television Viewing Harmful for Children? In my opinion, no. What could be harmful for children is what they watch and for how long. Childrens advocates are divided when it comes to solutions. Although many urge for more hours per week of educational programming, others assert that no TV is the best solution. Some say its better for parents to control the use of TV and to teach kids that its for occasional entertainment, not for constant escapism. Many parents and teachers have different views and this debate will carry on for centuries to come. There is powerful research and opinions on both sides of the debate. Ultimately the decision is up to the parent. Armed with information and knowledge the parent can make the correct decision for them, their children and their family. As a teacher, I can share with the parents my knowledge of TV viewing and its effects, both positive and negative. In the classroom, I can encourage play, reading, and social interaction. I can introduce child ren to our world through play, field trips, and books. I can provide the children with healthy snacks and encourage them to make healthy decisions regarding food, exercise, and television viewing. I can provide parents with information and resources that is offered by the school and the community. Children are influenced by those around them. They emulate what they see. As teachers and parents, we should be good role-models. How can we expect children to not smoke, drink, act violent ,eat poorly, or watch too much television if we are doing those things? Television cannot be blamed for problems with children. It is ultimately up to the parents to monitor their child, communicate with their child and instill in their child values and beliefs that help them make good decisions in their life.
Monday, August 19, 2019
Swirling fog and dynamic light surround my silhouette, a warped halo of ominous colors accentuating the restrained passion of my abrupt, powerful gestures. A demonic cackle resonates from my parted, sneering lips, a sense of power emanating from my very pores. I summon my strength for my greatest achievement, my moment of glory, the heroes of humanity having fallen before my wrath, as pleas for reconsideration bombard my deaf ears. The stroke of a button - water vapor and carbon are the last remnants of the blue and green orb that for so long careened around a furnace of burning hydrogen. So shall be my final moments as a supervillain, an evil and ominous figure against which hordes of mortals shall struggle and fall. My domination and destruction of the Earth shall be preceded by the acquiring of psychic superpowers, struggles with some benevolent archrival, and a glorious battle for humanity in which I shall triumph. I have fought one battle at a time, and my longest thus far is drawing to a close. High school has marked a gradual but inevitable transformation from my idealis...
Sunday, August 18, 2019
Surrogate Mothers The practice of bearing a child on behalf of another woman. This is surrogate motherhood. Is it considered immoral? By some, yes. In some countries it is bannedÃ¢â¬âand in others it is promoted or up for consideration. In recent days, the issue of "right and wrong" has surfaced in the midst of this argument, sharing different meanings to the opposing sides. To some, it is right only for the woman who brings forth life to raise the child; for it is deemed that she is the only one fit to be the child's mother. Clearly, we must indeed recognize this side of the argument. But to those with that viewpoint, that is the end of the argument. They do not see any reason for the issue to be continued further; rather, to end the debate and declare anyone who disagrees to lack morals or values. But have those who preach this anti-surrogate moralism ever experienced what it would be like to be those on the other side of this issue? Suppose, for a moment, that they were the ones who were incapable of having children. Would they condemn themselves the way that they condemn others if they were in another predicament? It is surely easy to say what one would do in any situation, but one can never know exactly what they would do until that situation comes. How many of you have ever held a small child in your arms and looked into its small eyes and felt the love that you had for it. Perhaps it was a younger sibling, perhaps even a child of your own. You know how much th...
Saturday, August 17, 2019
The Cold War was a very terrible war that started in 1945 between the United States and the Soviet Union and lasted 45 years. The Cold War got its name because both sides were too afraid to fight each other directly. They used words against each other to make the enemy look dumb and foolish. They fought through many other wars, too afraid of nuclear attacks directly hitting them. These wars caused great devastation across the globe. This war had started because the Soviet Union wanted to spread communism across the world, but America being a democracy, did not want that. The first ten years were somewhat interesting. On February 4 1945, there was a Yalta Conference, a wartime meeting between the heads of government from the United States, United Kingdom and Soviet Union, and the Cold War began. Right after that, Germany surrendered to the Red Army in Berlin. On August 6, the United States dropped an atomic bomb on Hiroshima and killed 80,000 people. Then three days after, the United States dropped another bomb on Nagasaki that killed 70,000. Shortly after that, the Japanese surrendered and that was the end of World War II. Winston Churchill had issued warnings about the Soviets in 1946 and first used the term Ã¢â¬Å"iron curtainÃ¢â¬ . This term was used to describe how the Soviets had wanted power. 1946 was also the year Josef Stalin made a very hostile speech, claiming communism and capitalism couldnÃ¢â¬â¢t live in peace. In June of 1947, the Marshall Plan was announced. This plan set a precedent for helping countries combat poverty, disease and malnutrition. That same year, the Rio Pact was established. This was a security zone around the hemisphere with the 19 Latin American countries. Between June 1948 and September 1949, Britain and America were struggling to keep West Berlin supplied through aircraft, since the Soviet government closed all ground traffic. That year, they made 277,000 flights to carry products. In March of 1948, Truman started a Loyalty Program which was made to catch Cold War spies. Then, in that same year the Brussels Pact was made to protect Europe from communism. In 1949, China became a communist country because Mao Zedong took over. He then established the PeopleÃ¢â¬â¢sÃ Republic of China. In June of 1950, the Korean War started and Stalin supported North Korea and gave them Soviet weapons to invade South Korea. The war in Korea ended two years later, though. In 1951 the Federal Defense Administration was established which was a program that spread information about communism and the threat of attacks. March 1954 was when KGB (Committee for State Security) was established. KGB was the national security of the Soviet Union during the Cold War. In May of 1955 the Warsaw Pact was established. This pact was a mutual defense treaty between the eight communist states of Eastern Europe during the Cold War. During these ten years, there were a few treaties and some different experimental things done, also some different groups were made just for this one huge war. The next 10 years (1956-65) didnÃ¢â¬â¢t have as many exciting things happen. In 1956, there was a rebellion in Communist Hungary. Then after that in 1957, Sputnik was launched into space and Laika died in space. In 1958, Khrushchev, the leader of the Soviet Union during part of the Cold War, made the Soviet troops withdrawal from Berlin. Khrushchev then visited the United States in 1959 which caused the Kitchen Debate. This was a debate between Nixon and Khrushchev at the opening of the American National Exhibition. In 1960, the Soviets revealed that there had been a United States plane shot down over Soviet territory. This year was also the year John F. Kennedy was elected president of the United States. Cuba aligns itself with the Soviet Union and their policies that same year. The Bay of Pigs invasion happened in 1961, this invasion was by CIA trained exiles of Cuba into southern Cuba to try to overthrow the government, but it was unsuccessful. In 1962 the United States becomes more involved in the Vietnam War to keep communist takeover of South Vietnam as a strategy of containment. That was the same year of the Cuban missile crisis between the Soviet Union and Cuba and the United States, it lasted thirteen days. November of 1963 was a sad month because President Kennedy was assassinated, probably because of a conspiracy. The Gulf of Tonkin incident was in 1964 which was a confrontation between North Vietnam and the United States. In 1965 some United States marines were sent to the Dominican Republic to fight Communism. These 10 years were not very exciting but there were a few important events that changed the United States. From 1966 to 1975, not much happened. It was kind of a dull period compared to the last twenty years. In 1967 the United Stated Secretary of Defense, Robert McNamara admitted that the United States bombing raids had failed to meet their objectives. Richard Nixon was elected for president and North Korea captured U.S.S. Pueblo the year after. The USS Pueblo was a United States spy ship and it is still currently being held captive by Korea, though it is a museum now. Then, in 1969 Apollo 11 landed on the moon which had Neil Armstrong in it. He was the first person to step on the moon and it was a great accomplishment in US history. In 1970 Nixon spread the Vietnam War to Cambodia. The Pentagon papers were signed the year after in 1971. These papers were a United States history of its involvement in the Vietnam War. In 1972 not only did Nixon visit China, but SALT I (Strategic Arms Limitation Talk) was signed; this was between the two Cold War superpowers, the United States and the Soviet Union on the issue of armament control. The United States supported coup overthrew the Chilean government in 1973. The year after that, Nixon resigned but since then he has been the only president to ever resign. In 1975 North Vietnam defeated South Vietnam who then fell into communism. I do not know why these ten years were so boring, but they were even though they ended in another country falling into communism. The next ten years from 1976 to 1985 were even duller than the ones before. It started off with the Soviet Union and Cuba forcing Angola to become a communist state. In 1979, SALT II was signed. This time it was just an experimental negotiation about curtailing the manufacturing of nuclear weapons. The same year SALT II was signed, the Soviet forces invaded Afghanistan and the United States and China established diplomatic relations. In 1980, Polish shipyard workers started a strike and the Solidarity Union was formed, which was the first non-communist trade union in Warsaw Pact territory, and the strike leader, Lech Walesa, was elected as the head of the Solidarity Union. Three years later, President Reagan proposed the Strategic Defense Initiative. That initiative was created to protect the United States from nuclear missile attacks. In that same year, United States troops invaded and overthrew the regime in Grenada and endedÃ in a victory. Mikhail Gorbachev became the leader of the Soviet Union and initiated a campaign of increased openness and transparency in government institutions called Ã¢â¬Å"glasnostÃ¢â¬ and a political movement within the Soviet Union called Ã¢â¬Å"perestroikaÃ¢â¬ in 1985. As you can see, not much happened during these ten years but there were still some interesting things that happened. The last five years were when quite a few countries became independent after so long. In 1986 President Ronald Reagan and Mikhail Gorbachev resolve to remove all intermediate nuclear missiles from Europe. Then in the year after that, Reagan and Gorbachev agree to remove all medium and short-range nuclear missiles. This meant that the war was coming to a close and things were becoming less violent. The Soviet groups with drawled from Afghanistan in 1989. Poland and Hungary both become independent and communist governments fall in Czechoslovakia, Bulgaria, and Rumania, the Soviet empire declined in this year as well. Russia got a new president; Boris Yeltsin, in 1990 also. Another country became independent a year later, Lithuania. Germany also became reunited during this year. In 1991, the Warsaw Pact ended which meant the Cold War was over and the Soviet Union was done for, the end of it all. The Cold War was something terrible that happened between the United States and the Soviet Union for a stupid reason. It caused a lot of problems and different wars throughout the world just because they were too afraid to fight face to face but, it did not cause a huge amount of deaths. The Cold War was not really the kind of war that killed people; it was more of a war on which country could develop faster. This war could have been easily prevented but I guess some things just have to happen. A 45 year war for only one thing. Power. Works Cited Ã¢â¬Å"Cold War.Ã¢â¬ enotes. n.d. Web. 20 May, 2012. Ã¢â¬Å"Cold War Timeline.Ã¢â¬ History Timelines. n.d. Web. 20 May, 2012. Pillai, Prabhakar Ã¢â¬Å"Causes and Effects of the Cold War.Ã¢â¬ Buzzle. n.d. 21 May, 2012. Ã¢â¬Å"Timeline of the Cold War.Ã¢â¬ Think Quest. n.d. Web. 20 May 2012. Wikipedia.org.
FI-516 Ã¢â¬â WEEK 2 Ã¢â¬â MINI Ã¢â¬â CASE ASSIGNMENT Select a major industrial or commercial company based in the United States, and listed on one of the major stock exchanges in the United States. Each student should select a different company. Avoid selecting an insurance company or a bank, as the financial ratios for these financial businesses are different. Write a 7 Ã¢â¬â 8 page double spaced paper answering and demonstrating with calculations and financial data the following questions: 1. What is the name of the company? What is the industry sector? * The company name is Whole Foods Market Inc. Whole foods market, Inc. is the Food Retailers & Wholesalers industry. * The products include: grocery, seafood, bakery, prepared foods, meat and poultry, dietary and nutritional supplements, vitamins, specialty (beer, wine and cheese) body care products, floral and household products and pet products. 2. What are the operating risks of the company? * Organic foods market has several laws and regulations relating to health, sanitation and food labeling. * FDA, FTC, CPSC, USDA and EPA have set standards for the manufacture, packaging, and advertising of organic products. If failure to qualify these standards could result in the confiscation of marketing and sales licenses. 3. What is the financial risk of the company (the debt to total capitalization ratio)? Debt to total capitalization ratio = Debt / (ShareholderÃ¢â¬â¢s equity + Debt) Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- 1,300,770 / 4,292,075 = 30. 31% 4. Does the company have any preferred stock? No, the Whole foods market, Inc. does not have any preferred stock. 5. What is the capital structure of the company? : Short term portion of Long Term Debt, Long Term Debt, Preferred Stock (if any), and market value f Common Stock issued and outstanding? * Capital structure: Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢ â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Total Debt to Total Equity: 0. 60 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Total Debt to Total Capital: 0. 60 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Total Debt to Total Assets: 0. 42 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Long-Term Debt to Equity: 0. 58 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Long-Term Debt to Total Capital: 0. 58 * The Whole foods market, Inc. does not have any short-term portion of long-term debt, and there is no preferred stock. Long-term debt: $17. 44 million * The Whole foods market, Inc. has 300,000 share authorized and $178. 89 million shares issued and outstanding at 2011. 6. What is the companyÃ¢â¬â¢s current actual Beta? Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- * The current actual Beta is 0. 66 7. What would the Beta of this company be if it had no Long Term Debt in its capital structure? (Apply the Hamada Formula. ) Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- BL= B1 [1+(1-T) (D/E)] Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- = 0. 66 / [1+(1-0. 35) (0. 43)] Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- 0. 52 8. What is the companyÃ¢â¬â¢s current Marginal Tax Rate? Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- 35% 9. What is the Cost of Debt, before and after taxes? The cost of debt before taxes is 6. 7%, and after taxes is 4. 5%. 10. What is the Cost of Preferred Stock (if any)? The Whole foods market, Inc. does not have any preferred stock. 11. What is the Cost of Equity? Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Cost of Equity = (Dividends per share/current market value of stock)+Growth Rate of Dividends Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- = (0. 40 / $86. 47) + 0. 56% Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â = 0. 01 12. What is the cash dividend yield on the Common Stock? The cash dividend yield on the common stock is 0. 56 (0. 60%) 13. What is the Weighted Average Cost of Capit al of the company? The Weighted Average Cost of Capital is 7% 14. What is the Price Earnings Multiple of the company? Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- Current market value of stock / EPS Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- = $86. 47 / 2. 21 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- = 39. 13 15. How has the companyÃ¢â¬â¢s stock been performing in the last 5 years?In May 2007, the price of common stock was $39. 74 per share, but it dropped to $8. 19 per share in 2009. Although after the recession of price drop, the price begins the raise up to $86. 47 per share now. 16. How would you assess the overall risk structure of the company in terms of its Operating Risks and Financial Risk (Debt to Capitalization Rat io)? Total debt/total equity| 0. 0063| Total debt/total capital| 0. 0063| 17. Would you invest in this company? Why? Or Why not? * Officially I would invest portion of my assets into the portfolio. Since the price has raise from the last two years in an even steady price.Even though they have two small period of time that drop for about 15%. Overall the stock market seems to be passive about the movement of the behavior optimistically. Therefore be hold within the smaller beta that show less variable of the changes. I believe this could be a chance to be rich! 18. The last page of your paper should be a Bibliography of the sources you used to prepare this paper. Bibliography: * http://www. wikinvest. com/stock/Whole_Foods_Market_(WFM) * http://www. thestreet. com/quote/WFM/details/company-profile. html * http://yahoo. brand. edgar online. com/displayfilinginfo. spx? FilingID=8260392-165255- 169255&type=sect&TabIndex=2&companyid=10959&ppu=%252fdefault. aspx%253fcik%253d865436 * http: //www. investopedia. com/terms/d/debt-to-capitalratio. asp#axzz1v5caUyeq * http://www. marketwatch. com/investing/stock/wfm/profile * http://finance. yahoo. com/q? s=WFM&ql=1 * http://www. investopedia. com/terms/c/costofequity. asp#axzz1v5caUyeq * http://www. thestreet. com/quote/WFM/details/growth-rates. html * http://www. wikiwealth. com/wacc-analysis:wfm * http://markets. ft. com/research/Markets/Tearsheets/Financials? s=WFM:NSQ
Friday, August 16, 2019
A recap of how previous Philippine republics and administrations handled the country's economy since the Spanish era, including their management of the economy. In the days wherein the Philippines was under the Spanish Republic the country was at a good spot in Asia. Manila and Cebu were the only European cities; we were one of the best countries in Asia when it comes to trading domestically and internationally. Before, we were always trading with mexico sharing our culture to them and them sharing there culture to us.The country was at a good spot but as the Americans said the Philippines was like any other good but slow spanish colonized economy like the economies of countries in South America namely Mexico, Puerto Rico, Argentina and etc. According to an article Ã¢â¬Å"Economy during the Spanish Colonial Period. Ã¢â¬ n. page. Web. Aug. 2012. . After being controlled under the Spanish regime which lasted for 300 years, the Philippines were in a new republic under the American go vernment. Our country once became a part of America.It was one of the American States just like Hawaii right now, no matter how far they are, they still belong to the United States. Our country's economy before was really pump-priming. It was rising back again because Americans knew a lot in controlling a country's economy. They knew how to make people more productive in each of their daily lives, they knew the importance of the english language to us and they knew how to make this country moving from a good Latin country to a bustling busy city.Americans taught Filipinos how to use the telephone that's why now, as you can see, we have PLDT, We were taught how to speak english that's why now, as you can see, we are now Asia's most competitive english speakers. We were taught how to use the television, how to function the air conditioner, how to operate the washing machine and etc. We were so Americanized before that in the whole Asia we were the first Asians to taste coke and that's why now, as you can see, coke has been a part of the filipino tradition like having coke and bread to your visitors Ã¢â¬â a way of showing Philippine Hospitality.Our country had a lot of investments coming from America and they built a lot of places that could've been a major city if they were to stay here longer like Makati, Subic, Taft, Commonwealth and Clark. Without the Americans we wouldn't have these right now. We should be grateful to them because now that the Philippines is growing, more call centers, condominiums, office spaces, retail , and commercial areas are sprouting in the place. According to an article Ã¢â¬Å"The Philippines: Changes in the American Period . Ã¢â¬ n. page. Web. . While Philippines was at peace with the Americans there came the Japanese soldiers.They controlled our country like any other country they controlled in other parts of Asia like Malaysia Singapore, Cambodia, Vietnam, Hong Kong and Korea, they stole many natural resources like gold, cop per and many other metals that would help they're country Ã¢â¬â Japan to get rich and have a good economic status. In the Japanese Era our country Ã¢â¬â The Philippines, experienced on of the worlds worst inflations. In that time everyone was struggling, striving to get a good life and exerting so much effort just to escape the poor situation.In the Japanese era, The Philippines became poor. According to Balabag, Marilyn. Ã¢â¬Å"The Japanese Period in the Philippines. Ã¢â¬ n. page. Web. Aug. 2012. . While the Japanese people were busy harassing Filipino women, Americans fought back for us because they knew we had enough of it and we deserve peace. Surprising the Japanese, the Japanese men were preparing in case the situation will get real serious like secretly planning the attacks, secretly creating and formulating bombs, secretly building aero weapons and aquatic weapons as well.The Americans started it so both countries Japan and The United Stated of America began exchang ing bombs from place to place destroying each other's lands and properties and killing each other mercilessly. And finally Japan declared quits. The Philippine economy was at its worst. We couldn't grab time to recover our country's economy, our precious structures were being affected with all the bombs and missiles that soldiers threw on causing a lot of damage and money to recover it.Japanese people even stole billions from us and never even bothered to pay they're debts until now and to top it off they even stole gold from us like the huge beautiful golden statue called Ã¢â¬Å"YamashitaÃ¢â¬ Ã¢â¬ ¦What a shameÃ¢â¬ ¦ and to think its one of the richest countries in Asia to date. According to Jess Chin, Carlos Gavino. Ã¢â¬Å"The Philippines-American/Japanese War. Ã¢â¬ n. page. Web. Aug. 2012. . After being under the Spanish, American, and Japanese republic, The Philippines finally declared independence.Philippines finally stood up on its own two feet. Former President, Glori a Macapagal Arroyo's Administration, The Philippine Economy was lagging. A proof would be the GDP Growth where it grew for only a tiny 1%. If you would compare Philippines to other South-East Nations, The Philippines was behind amongst them. Even Vietnam chased after The Philippines and almost Cambodia thank God Cambodia has not been able to chase us yet because if we're chased it just goes to show The Philippines is really Sick and not investor friendly.We were down by then in her administration. According to Africa, Sonny. Ã¢â¬Å"Dark Legacies: The Economy under Gloria Macapagal-Arroyo. Ã¢â¬ (2010): n. page. Web. Aug. 2012. . In The Present administration of President Noynoy Aquino, The Philippines is showing shocking results for example the GDP Growth. The 2010 GDP Growth in The Philippines early months were really high from 6% to 7% and to 8%. We were really in a good spot.Reasons why the GDP grew that way was because of election spending and if you're not familiar with elect ion spending, it means that politicians spending so much money for ads and commercial for them for example Manny Villar, and by the way I chose Manny Villar because in my own opinion, I think Manny Villar had the most ads and commercial in the elections season like the famous song that was produced and composed for him only few knew the title we mostly called it Ã¢â¬Å"Nakaligo ka na ba sa dagat ng basuraÃ¢â¬ so back to the topic, election spending is simply politicians putting they're whole money on the commercials and ads which would equal to opening doors for new jobs like the employees of the printing press getting more productive, people will get jobs for pasting they're posters, directors, writers and producers gets more productive and more people will be paid for talent fee. Well, those are the most common jobs when there is election spending there are still actually more jobs that are uncommon, more jobs that can help Filipinos sustain they're daily needs. According to Ed u Lopez, Chino Leyco. Ã¢â¬Å"GDP up by 7. 3% in 2012. Ã¢â¬ (2011): n. page. Web. Aug. 2012. , Remo, Michelle. Ã¢â¬Å"Election Spending to boost GDP. Ã¢â¬ (2009): n. page. Web. Aug. 2012. . As of now the Philippine GDP growth of 2012 in the 1st quarter is 6. 4%. Shocking everyone around the world for getting the second highest rank in asia only behind China.China is ranked as the highest because of the endless construction of condominiums which until nowÃ¢â¬ ¦stayed emptyÃ¢â¬ ¦ By the later years China will experience a huge property bubble burst which means when all condominiums are built and still stayed empty, what would happen is that, businessmen will go bankrupt and money will not be circulating anymore because why would China still build many condominiums when most of the condominiums are not even sold yet? Which would mean less construction equal to less people will be employed, equal to fewer people will get salary which would, in the end, equal to money not circulat ing around the country which would result to low GDP Growth even now, predictions for China's 2nd Quarter GDP Growth are smaller than there 1st Quarter GDP Growth of 8%. This is one of China's big problems, they keep on building infrastructures which in the end, it won't even be utilized. According to an article Ã¢â¬Å"Phl GDP up 6. 4% in Q1, highest growth in ASEAN. Ã¢â¬ (2012): n. page. Web. Aug. 2012. , Rapoza, Kenneth. China's Housing Bubble Past, And Its Future. Ã¢â¬ (2011): n. page. Web. Aug. 2012. . The Philippines, as of now, is doing really good, our country has been really doing good that the media said that sooner, the Philippines will get an credit rating upgrade and an investment grade. If you're not familiar with credit rating upgrade and investment grade, these are somewhat like badges for countries interpreting how investor-friendly we are. If we get an investment upgrade than we will get noticed by investors easily and would mean the more investments this coun try will receive. To make it easier its like pasting more hashtags on an instagram photo.The more hash tags, the more people can easily find it and will be able to like it and the more exposure your photo will get. Now back to the topic, Our country, The Philippines has been getting so much news from Moody, Fitch and etc. that sooner or in the near future the Philippines will be getting an investment grade and a credit upgrade rating. Which would also cite a proof that The Philippine Economy is really doing good. According to PH credit rating. Ã¢â¬ (2012): n. page. Web. Aug. 2012. , Malinao, Alito. Ã¢â¬Å"S;P upgrade makes PH bullish about economy. Ã¢â¬ (2012): n. page. Web. Aug. 2012. , Raquel, Nick. Ã¢â¬Å"PHL economy shows signs of credit boom, says Fitch. Ã¢â¬ (2012): n. page. Web. Aug. 2012.The Philippines shocked the whole world when it became a creditor to the International Monetary Fund (IMF) handing help to the other countries by donating dollars to the weakening c ountries like Greece. When The Philippines donated billions to IMF it made The Philippines more visible to everyone making businessmen think of the Philippines as a possible destination for putting up they're future planned investments. It proved to the rest of the world that The Philippines is now a decent country, its now having a fresh start, its now making its name again and its now making a new reputation. A reputation that will forever change the mindsets of people around the world thinking that the Philippines is a Sick Laggard Man of Asia to A Rare Bright Spot of Asia.According to an article Ã¢â¬Å"PH NOW AN IMF CREDITOR / IMF LOAN TO HELP STABILIZE WORLD ECONOMY. Ã¢â¬ (2012): n. page. Web. Aug. 2012. . In the future we'll be expecting more good things to come because as of now, we have a lot of positive outlooks beginning with the Filipinos' capacity to speak english like no other non-english speaking countries in the world. Our Business Process Outsourcing (BPO) Industr y is currently rising with so much buildings under construction for the new office spaces for call center companies expanding they're company and for first timer call center companies finally entering the Philippines. A survey even showed that the Philippines still lacks office spaces.Which just goes to show that we will be expecting different skylines in the future especially with Manila, Clark, Cebu and Davao that would show the country's richness and status just like what they say, Ã¢â¬Å"You can simply estimate the country's economic performance through its skylineÃ¢â¬ Which is true as you've notice big cities like New York, Tokyo, London, and Singapore they're skylines are beautiful and it really compliments they're long term economic status. According to Dela Pena, Zennia. Ã¢â¬ Eton ramps up construction of new BPO buildings . Ã¢â¬ (2011): n. page. Web. Aug. 2012. , Dela Pena, Zennia. Ã¢â¬Å"SMDC mulls development of BPO buildings . Ã¢â¬ (2012): n. page. Web. Aug. 2012. , Dela Pena, Zennia. Ã¢â¬Å"Filinvest Land ramps up new BPO buildings . Ã¢â¬ (2011): n. page. Web. Aug. 2012. . The Filipinos' capacity to speak english so fluently led many foreigners from around the world to study here and learn how to speak english like how Americans speak the language. Most of the foreigners that come to The Philippines to study here are Koreans.Koreans decide to study here rather than in The United States because education here is cheaper and much worthy plus if you talk about the plane ride and the ticket price, its way cheaper and hours of traveling is also shorter so its less hassle. Be it French, Italian, Kenyan, Thai, Vietnamese , Iranian, Indian and so much more to mention they're purpose here is to study english for we Filipinos are good at it and they believe that too that Filipinos are really talented at it. But you would ask where will all of these expats stay for the time that they will be studying in this country? Well condominiums, houses, apartments are the answer. Lately, The Philippines' real-estate market has been rising and one of the reason are the foreigners coming here to study english.Real-estate in the Philippines is truly booming and when its booming that would mean the construction industry will also grow at a faster and plus not to mention the infrastructure projects and PPPs of the government. According to an article of Ã¢â¬Å"Why foreigners study English in the Philippines. Ã¢â¬ (2006): n. page. Web. Aug. 2012. , Ã¢â¬Å"About 200,000 South Koreans study English in RP, says envoy . Ã¢â¬ (2008): n. page. Web. Aug. 2012, Cecil, Morella. Ã¢â¬Å"Property boom transforming Philippine skylines. Ã¢â¬ (2012): n. page. Web. Aug. 2012. . The Philippines is truly blessed with Filipino people who are so eager to work that they would leave they're family and love ones just for the sake of earning money in order for they're children and love ones to sustain they're daily needs.Thanks to the Overseas Filipino Workers (OFW) The Philippines has been receiving money or shall we say remittances from them. Remittances are a plus for the country because its like receiving money from other countries and would equal to adding up the circulation of money in the country from a base of billions, it would turn to trillions thanks to remittances that OFWs worked hard for. With remittances, retail industry in the country will grow which means sufficient salary for employees in shops and around and again it circulates which means economic performance will improve. According to Remo, Michelle. Ã¢â¬Å"Overseas Filipino remittances up by 5% to P10 B in 1st half. Ã¢â¬ (2012): n. page. Web. Aug. 2012.