Rating Agencies Fuelled The Crisis Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1359 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Not only credit rating has a major influence on capital allocation decisions, it is also a key aspect that managers take into consideration when making capital structures decisions. Indeed, in 2002, the Wall Street Journal indicated that Fiat was focusing on decreasing its debt level since it was increasingly worried about a possible downgrade of its credit rating. According to Graham and Harveys findings in 2001, CFOs consider credit ratings as the second most important considerations when they determine the corporations financial structure. Moreover, it is important to remind the fact that the capital structure decision of a firm, which can be characterized as the allocation of long-term debt and equity in the capital structure used to financed fixed assets, is financial decision of significant important for managers. However, although there is has been a heated debate on the various factors that influence the capital structure of a corporation, there has been f ew researches that argue that credit ratings is a key component of the process concerning capital structure decision making. Indeed, if Kisgen explained in 2006 that credit ratings have a direct influence on capital structure decisions, his study was based on a sample of American companies for the period from 1986 and 2001. Due to the very active corporate bonds market in the United-States, American data was abundant. In addition, in 2011, Michelsen and Klein analyzed a international sample of companies for the period from 1990 to 2008 and found the same results based on the fact that credit ratings strongly impact the capital structure of corporations. No researcher has yet focused on assessing the relation between credit ratings and the capital structure decision making in European countries. As a result, the research questions on which this study will be based are the following: -Does the corporate credit rating provided by rating agencies have an impact on the capital structu re decisions made by management in European countries? -How is this rating reflected in the financial structure of corporations? Does this only affect the firms leverage level or also the amount of equity? -Does an upgrade have the same influence on the capital structure decision made by management than a downgrade? The two main theories concerning the factors that affect the capital structure decisions of a firm are the trade-off and the pecking order theory. These modern theories have been derived from the work done by Modigliani Miller in 1958, which is based on the fact that a firms value is not correlated to its leverage. The acknowledgement of the existence of bankruptcy costs and taxes has resulted in the development of the trade-off theory. This theory assumes that a value-maximizing firm will compare the benefits of issuing debt, such as the value of interest tax shields, with the costs of debt such as the direct and indirect costs of bankruptcy in order to determi ne the optimal capital structure of the company. The pecking-order theory is based on the existence of asymmetric information and argues that firms will usually prefer to use internal funds and equity rather than issuing equity due to asymmetric information costs (Myers, 1984). As a result, this theory does not provide an optimal level of debt: companies will issue debt when investment exceeds internal funds and leverage will decrease when investment is below internal funds. However, the determination of the optimal capital structure of a firm is very complex task for management. Both theories mentioned above do not take into account all relevant factors that explain the capital structure decisions made by a firms management. Indeed, Graham and Harvey stated in 2001 that 57,1% of CFOs considered that credit ratings had a significance influence on their decisions concerning the optimal gearing level for their firms. For this study, we will use the empirical research method. Wit hin this research framework, we will use the secondary data method. The sample is based of all companies with a credit rating that belong to the STOXX Europe 600 Index. According to Faulkender and Petersen, companies that have a public debt rating issue approximately 78% of outstanding debt. As a result, the sample chosen reflects a large portion of active firms in capital markets. The STOXX Europe 600 Index, derived from the STOXX Europe Total Market Index (TMI), is composed of 600 companies and reflects large, mid and small capitalization companies across 18 countries of the European region: Austria, Belgium, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden and the United Kingdom. We will extract two types of secondary data from the Datastream database: -the companies financial statements extracted from their financial statements for the period from Q1 2000 until Q1 2012. This time period reflects two cycles : the 2000 bullish market in the global capital market thanks to the burst of the dot-com boom as well as two major economic crisis: the 2001 dot com bubble burst and the 2008 financial and economic crisis with the collapse of Lehmans Brothers. -the firms long term corporate obligations ratings by Moodys that characterizes as the opinions of the relative credit risk of fixed-income obligations with an original maturity of one year or more and that reflect both the likehood of default and any financial loss suffered in the event of default. (Moodys 2009). The corporate credit rating used in prior work (for example Kisgen, 2006) is the long-term issuer credit rating of SP. By choosing Moodys long-term corporate obligations ratings, we will be able to assess of there is any discrepancies between the results found using the credit ratings of SP and those using the ratings of another credit rating agency. We will apply a selection criteria for this sample: -we will exclude from the study companies that have been deleted from the STOXX Europe 600 due to delistings, mergers and takeovers -we will also exclude financial firms such as banks, insurances and investments firms since debt and equity issuances for this category of firms has a different goal than for service or industrial firms, which as been argued by Lasfer in 1995 -we will exclude from the sample any companies which is not characterized by Datastream as an issuer on the corporate bond market -finally, we will exclude companies which are not rated by Moodys from Q1 2000 until Q1 2012 or which financial statements are not available. For this study, we will carry out a methodological approach based on Kisgen (2006) empirical design. In order to assess the fact that a company close to a credit rating downgrade or upgrade will issue less debt compared to equity in order to avoid a downgrade or to maximize its chances to benefit from an upgrade (the CR-CS hypothesis), Kisgen (2006) states t hat there are three levels of credit rating changes: credit rating change from investment-grade to non-investment grade, the Broad Ratings change, a Broad Rating being a credit category that includes the plus, middle and minus specification of a certain rating (for example, B+, B and B-), and the Micro Ratings which are specific ratings that include a plus or a minus modification, if given. For our study, we will only focus on the first two potential credit rating changes since they are the most significant. We will therefore conduct two empirical tests: the Plus or Minus test (POM) to test for a credit rating change from one broad category to another and the Investment Grade vs Speculative Grade test (IGSG) to assess the impact of a change from investment grade to non-investment grade. In both these tests, the same dependent variable will be used to define the capital structure of the firm: it will be reflected by measures of the amount of net debt relative to net equity issued by the firm. Due to the fact that we will extract from Datastream Moodys credit rating at the beginning of the year for each firm, we will use measures of a firm capital structure for the subsequent 12 months. In addition, we will opt for book values since credit rating agencies often use these variables instead of market values. Moreover, book values are measures that highlight decisions made by the management of a company. In order to make the distinction between corporations that are close to a potential downgrade or upgrade and firms that are not, Kisgen (2006) also introduced dummy variables. Don’t waste time! Our writers will create an original "Rating Agencies Fuelled The Crisis Finance Essay" essay for you Create order

Expanded Risk Management Plan How to Handle Health...

Introduction The Quick Rx application has the most risk in terms of a legal violation that involves a compromise of patient privacy. In this management risk plan, the author will analyze how to handle Health Insurance Portability Accountability Act (HIPAA) violations in an electronic medical records (EMR) environment. The law provides civil and criminal penalties for the failure to comply with HIPAA. Neglect is punished less severely than willful violations (Hipaa violations and, 2011). Software piracy is extremely common. It refers to unauthorized copying of software. Prevention is very difficult and the degree of enforcing copyright laws varies. The piracy risk is mitigated by the iTunes store platform. Another risk is that our competitors who may have a portion of what we want to offer could update their application before completion. Technical risks are that our application is too complex for our users and therefore result in low purchasing. The thrust of this risk management pla n will be to use HIPAA strictures as a more palatable reason for heavier security restrictions on the application. In this way, we will be turning a major weakness into a strength that will help us mend the other weaknesses that are software-related. Risk Identification The risk is a combination of primarily legal and secondarily technical issues. We mentioned this briefly above. The HIPAA legal risks with the transfer of EMRs are very technical and frankly growing with time as the lawShow MoreRelatedHrm5999437 Words   |  38 PagesWeek 1 1. Benefit plans Employer-sponsored benefits reflect the culture and business of the organization, and plans should be crafted and selected accordingly. Think about your current (or former) organizations benefit plan. Did it help to improve the quality of your work as well as your personal life? Why or why not? Was it a generous benefits program or were there specific benefits you felt should have been included? 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Matrimonial Case for Object and Interpretation- myassignmenthelp

Question: Discuss about theMatrimonial Case for Object and Interpretation. Answer: A married woman named Mrs. Atkinson approaches a lawyer named Mr. Cage. Mrs. Atkinson suspects that her husband named Mr. Atkinson is cheating on her. She suspects this because he has been returning home late every night from work. Mr. Atkinson works as a Project Manager at a firm named Netscribes that primarily deals with E-commerce. When Mrs. Atkinson confronted her husband about his late arrivals every night from work, he was simply stated that he was trying to clear some back-logs at work. As this is the beginning of a legal consultation in respect of a matrimonial case, it is the duty of Mr. Cage to obtain the following documents from Mrs. Atkinson: a clear and distinct description of her husband which includes his regular attire and any characteristics or marks that set him apart from others, a prominent photograph of her husband that is also recent, his work address, a detailed description of his car, knowledge in respect of the places that he visits regularly (e.g. clubs or pubs), and details of the individual with whom her husband is having an affair in her suspicion.[1] Provided that Mrs. Atkinson hands over all the above-mentioned documents to Mr. Cage, the procedure can move forward.[2] These are the documents that must absolutely be obtained and retained by Mr. Cage. It must be mentioned at this instance that a lawyer may ask a diverse range of other questions at the initial consultation of a matrimonial case.[3] These may include: inquiring about the basic background of the husband, if he has had any affair in the past, and whether Mrs. Atkinson has ever suspected her husband of having an affair in the past and if yes, the conclusion such previous suspicion came to.[4] For the purpose of this part of the assignment, I observed an acquaintance for a few hours. The following is my report on their behavior and movements: 28th August, Monday 10 am: Discreetly followed subject to the company he works in names Jeremy and Reynolds Accounting Company, 20, Sunder Street, Brisbane. Discovered the car that he drives, a Grey BMW E-class at the car park of the firm. 20 am: Subject enters his office after a brief phone call right outside office. The conversation was unintelligible from a distance. However, it seemed to be a client as the words, audit, slowdown and cut-backs were repeated a few times. 00 am: The subject comes out of the office and proceeds towards his car while having a conversation with someone on the phone. Seemed to be a friend as I overheard him asking about the other persons health. He proceeds to his car and drives away. 20 am: He drives to a nearby restaurant and orders a caffe latte. He waits there for about 10 minutes when another gentleman approached him and they greeted each other. Thereafter they sat down and started discussing business. I overheard the words merger, bankrupt and insolvent. These words essentially direct towards the establishment of the fact that the other gentleman was either a client of the subject or the company he works in or a prospective client thereof. 40 am: The other gentleman left the restaurant. The subject paid the bill and walked towards his car while dialing a number. By the time the call connected he was already well-seated in his car and drove back to his office. A thorough research into the kind of camera that is best suited for surveillance purposes and gathering photographic evidence resulted in the following conclusions: A standard SLR (single reflex lens) camera is essential to capture clear photographs from a distance. However, in case Mr. Cage does not know how to operate such a camera he should learn how to use it by looking up tutorials online or getting enrolled for a course in that respect. The camera must allow Mr. Cage to control its focal length, aperture width, shutter speed and so on.[5] Automatic cameras must be avoided at all costs as they do not allow you to control these features. If an automatic camera comes with a manual over-ride feature, then it can be effectively used for investigation work. Telephoto lenses must be used to capture the relevant pictures as these lenses have the ability to magnify the images and thereby make it appear nearer.[6] Zoom lenses may also be used but it must be taken into account that such lenses do not let a large amount of light to get to the film. A fast (highly light-sensitive) film must be used for night-time and interior photography. These films woks competently even without flash. [7] Cage must practice clicking images with an SLR camera, telephoto lens and a fast film. Its best for him if he clicks images at unusual areas and diverse conditions, e.g., outside and inside clubs and pubs, in multi-storey car parks, in shopping centers and at night, and so on. This will allow him to understand how to work the cameras exposure under diverse circumstances. This practice shall help Mr. Cage to gain knowledge in relation to how the camera works best. If Mr. Cage uses a film that is not appropriate for the conditions, he must forward that knowledge to the lab when sending the film for processing. They might be able to improve the clarity of the pictures by processing them differently. Cage may well follow Mr. Atkinson by and take relevant pictures discreetly by taking an acquaintance along. This way, Mr. Cage may well pretend to be taking a holiday picture while actually gathering evidence for the case in full view of the camera. Photographs taken using electronic cameras are easily edited and amended nowadays and may not be by the court as evidence. Bibliography Banks, M. (1998). Visual anthropology: Image, object and interpretation.Image-based research: A sourcebook for qualitative researchers, 9-23. Bennett, A. G., Rudnicka, A. R., Edgar, D. F. (1994). Improvements on Littmann's method of determining the size of retinal features by fundus photography.Graefe's archive for clinical and experimental ophthalmology,232(6), 361-367. Clarke, T. A., Fryer, J. G. (1998). The development of camera calibration methods and models.The Photogrammetric Record,16(91), 51-66. Cunningham, C. D. (1998). Evaluating Effective Lawyer-Client Communication: An International Project Moving from Research to Reform.Fordham L. Rev.,67, 1959. Gonczi, A. (1994). Competency based assessment in the professions in Australia.Assessment in Education: Principles, Policy Practice,1(1), 27-44. Mosten, F. S. (1994). Unbundling of legal services and the family lawyer.Family Law Quarterly, 421-449. Tesler, P. H. (2008). Collaborative Family Law, the New Lawyer, and Deep Resolution of Divorce-Related Conflicts.J. Disp. Resol., 83.

Mary Shelleys description of the monster Essay Example

Mary Shelleys description of the monster Essay At the beginning Shelley contrasts his beauty and his wretchedness. Mary Shelleys description of the monster reduces the good things and increases the bad things which makes our first impression of the monster as being horrific Mary Shelley writes: His teeth of a pearly whiteness which were of a Horrid contrast with his watery eyes Mary Shelley is using Victor Frankensteins first impression of the monster was clearly horrific. You could tell from the first time Victor looked at the monstrous creation properly and he straight away knew the evil he had created. One of the first words of Victor Frankenstein upon seeing the monster was Beautiful, great god Frankenstein was infact being ironic as his creation was indeed not beautiful. He is completely despondent: The beauty of my dreams vanished and breathless horror and disgust filled my heart Mary Shelley uses such words to make us feel that this is such a monster that is so horrid that it will turn the heart black with disgust even to look at it. Mary Shelley gives us an early indication that this monster is not going to be such a first-class monster but a wicked one. We will write a custom essay sample on Mary Shelleys description of the monster specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mary Shelleys description of the monster specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mary Shelleys description of the monster specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This also agins shows us that she is very intelligent because of the way she uses the language. This quote explains everything about how Dr Frankenstein felt. Frankenstein also makes us think in negative ways towards the monster because he uses very effective and powerful words such as: Demonical corpse, miserable monster and ugly wretch This lets us know that he is regretting the creation and he comparing it with devils and demons. Victor Frankenstein is so scared of the monster that he leaves it and doesnt look back. This also shows Mary Shelleys intelligence because she uses very effective words to describe the monster. Our impression of the monster changes later in the novel when Frankenstein the monster tells us his side of the story. Mary Shelly emphasizes the positive aspects of the monster at this stage. After the monsters creator runs away from him. The monster goes out into the world. His first encounter with humans arnt the best of encounters because at first sight of the monster they straight away judge the monsters by its looks and start beating him and throw missile weapons at him, for example: grievously bruised by stones and many other kinds of missile weapons Mary Shelley is showing here that this monster didnt obviously look like how human beings do, this also show the wretchedness of the monster, it is also giving a simple message which is dont judge a book by its cover. We find out what the monster is really like when he goes and lives in a hovel near some cottagers. Mary Shelley writes about how he helped them at night when the cottagers were asleep. The creature speaks of how he: Often took tools. The use of which I quickly discovered and brought home firing sufficient for the consumptions for several days This showed he had a caring side to him and when he saw that the cottagers were having trouble he went and helped secretly by cutting the wood for them and doing several other things. Mary Shelley also writes about how the monster learns to speak and learns new words by listening to the cottagers, particularly Felix who teaches his girlfriend Safie to speak English. The creature says: I discovered the names that were given to some of the most familiar objects of discourse, I learned and applied the words. We start to feel sorry for the monster when he discovers that he is nothing like other people and that he is completely different to them in looks, height and strength. At this point we feel sorry for him because he talks about how his going to present himself to the cottagers. Frankenstein the monster says: their grace, beauty and delicate complexions, but how was I terrified when I viewed myself in a transparent pool!

Free Essays on Theatre And Kabuki

Japan’s dances and dramas as they are seen today contain 1300 years of continuous uninterrupted history. This prodigious feat of conservation, theatrically speaking, makes Japan an extraordinary and unique country. In all of Asia, where tradition generally is sanctified and change eschewed, Japan stands as the only country whose theatre is its entirety has never suffered an eclipse nor undergone any drastic revivification or renovation. The most traditional form of Japanese theatre is kabuki. Its origin goes back to the latter part of the 16th century and, with extensive and continuous evolution, it has now been perfected into a state of classical refinement. Though not as flourishing as it once was, the kabuki theatre retains wide popularity among the people, and is in fact drawing quite large audiences even now. During the period generally referred to as the Edo Era, during which much of the development of kabuki took place, distinctions between the warrior class and the commoners was more rigidly observed than at any other time in Japan's history. Mainly the merchants cultivated the art of kabuki in those days. They had become increasingly powerful economically, but had to remain socially inferior as they belonged to the commoner class. To them kabuki was most significant as the artistic means by which to express their emotions under the prevailing conditions. Thus, the fundamental themes of kabuki plays are conflicts between humanity and the feudalistic system. It is largely due to this humanistic quality of the art that it gained such an enduring popularity among the general public of those days and remains this way today. A unique feature of the kabuki art, and possibly the most significant detail and in keeping with the kabuki spirit of unusualness, is the fact that it has no actresses whatsoever (Bowers 325). Male impersonators known as onnagata play all female parts. The players of the kabuki drama in its primitive stage ... Free Essays on Theatre And Kabuki Free Essays on Theatre And Kabuki Japan’s dances and dramas as they are seen today contain 1300 years of continuous uninterrupted history. This prodigious feat of conservation, theatrically speaking, makes Japan an extraordinary and unique country. In all of Asia, where tradition generally is sanctified and change eschewed, Japan stands as the only country whose theatre is its entirety has never suffered an eclipse nor undergone any drastic revivification or renovation. The most traditional form of Japanese theatre is kabuki. Its origin goes back to the latter part of the 16th century and, with extensive and continuous evolution, it has now been perfected into a state of classical refinement. Though not as flourishing as it once was, the kabuki theatre retains wide popularity among the people, and is in fact drawing quite large audiences even now. During the period generally referred to as the Edo Era, during which much of the development of kabuki took place, distinctions between the warrior class and the commoners was more rigidly observed than at any other time in Japan's history. Mainly the merchants cultivated the art of kabuki in those days. They had become increasingly powerful economically, but had to remain socially inferior as they belonged to the commoner class. To them kabuki was most significant as the artistic means by which to express their emotions under the prevailing conditions. Thus, the fundamental themes of kabuki plays are conflicts between humanity and the feudalistic system. It is largely due to this humanistic quality of the art that it gained such an enduring popularity among the general public of those days and remains this way today. A unique feature of the kabuki art, and possibly the most significant detail and in keeping with the kabuki spirit of unusualness, is the fact that it has no actresses whatsoever (Bowers 325). Male impersonators known as onnagata play all female parts. The players of the kabuki drama in its primitive stage ...

Hunt the US Treasury for Your Lost Money

Hunt the US Treasury for Your Lost Money Unfortunately, the U.S. Treasury Department’s Treasury Hunt website for finding and claiming lost U.S. Savings Bonds is no longer available. Instead, persons wishing to claim and recover lost, stolen, or destroyed bonds should submit Fiscal Service Form 1048, Claim for Lost, Stolen, or Destroyed United States Savings Bonds. Form 1048, along with instructions are available at https://www.treasurydirect.gov/forms/sav1048.pdf Filing a Claim for Lost Savings Bonds When filing the Fiscal Service Form 1048, Claim for Lost, Stolen, or Destroyed United States Savings Bonds, the Treasury Department offers the following advice: The serial numbers of all bonds should be listed if available. If a bond’s serial number is unavailable, the following information for each bond being claimed must be provided on the Fiscal Service Form 1048, regardless of the type of ownership for the bond: The month and year the bond was purchased.The bond owner’s first and last name as it appeared on the original bond (plus the owner’s middle name or initial, if it was on the original bond.)The original owner’s street address, city, and state.The bond owner’s Social Security Number (Taxpayer Identification Number) as it appeared on the original bond. To avoid processing delays, the Treasury Department advises that each required Fiscal Service Form 1048, along with any additional documents, should be completed fully and correctly, signed, and certified according to the instructions provided on the form. Options for Successfully Claimed Savings Bonds Once the existence and legal ownership of lost, stolen, or destroyed bonds has been verified by filing the required Fiscal Service Form 1048, owners of the bonds have the following options: For Series EE and I Bonds Cash them.Replace them with a bond in electronic form. For Series HH Bonds Cash themReplace them with paper bonds. For Series E and H Bonds Cash them. More about U.S. Savings Bonds Holders of Series H or HH savings bonds, which pay interest currently, should also check the Treasury Hunt web site to look for interest payments returned to the U.S. Bureau of the Public Debt as undeliverable. The most common cause for a payment to be returned is when a customer changes bank accounts or address and fails to provide new delivery instructions.Series E bonds sold from May of 1941 through November of 1965 earn interest for 40 years. Bonds sold since December of 1965 earn interest for 30 years. So, bonds issued in February of 1961 and earlier have stopped earning interest as have bonds issued between December of 1965 and February of 1971. Savings bonds become undeliverable and are sent to the  U.S. Bureau of the Public Debt  only after financial institution issuing agents or the  Federal Reserve  make several attempts at delivering the bonds to investors. Bonds returned as undeliverable are a tiny fraction of the 45 million bonds sold each year.The Bureau of the Public Debt has a number of employees assigned to a special locator group that finds owners of undeliverable payments and bonds. Each year they locate and deliver several millions of dollars in returned interest payments and thousands of previously undeliverable bonds to their owners. Treasury Hunt adds to the effectiveness, not to mention the fun, of this effort by making it easy for the public to check and see if theyve got a bond or interest payment waiting for them.

General George S. Patton Essay Example | Topics and Well Written Essays - 1000 words

General George S. Patton - Essay Example As a way of expressing his feelings and thoughts he was also writing poems. General to be George Patton was born in 1885 in San Gabriel California to the wealthy family of an attorney. His parents, being well educated themselves, were also giving good education to their son from an early age, main subjects being classic literature and history. The other subject his father grounded him in was the Bible, which Georgie, as he was known later throughout his life, knew mostly by heart. Christianity became a guiding light in his life, along with his passion for battles and war. Though he had an early start with the education and was very intelligent, he did not know how to read or write until the age of 11. It seems Patton suffered from dyslexia, which could not be diagnosed at that time. It manifested itself in George’s inability to spell properly, and his problems in mathematics. George Patton Jr. attended Virginia Military Institute just like his father and a grandfather. He had a blood of a military officer running through his veins. His grandfather was a colonel in the Confederacy in the War Between the States, and was killed in one of the battles; many of George’s uncles were also participating in the war. After the war has ended, many war heroes were visiting Patton’s house and George was listening to stories told by the battle veterans themselves. Patton’s father also told his son many stories about the war and battle heroes; he took his son to visit battlefields of Civil War. All this had such a great influence on George Jr. that at the age of 10 he set a goal of becoming a hero and a famous general. He was very determined to reach this goal, and spent most of his childhood in studying what he thought a general needs to know. Entering Virginia Military Institute was a next step toward his dream. His problems in mathematics continued so much so that he had to have a permission to repeat the first year. However, his learning disabil ities did not hinder him from graduating successfully. Being good at sports also helped him in obtaining his diploma. His sport achievements were so great that Patton represented the United States in the Olympics of 1912 in Stockholm. He placed 5th out of 46 in the first modern Pentathlon. Patton really liked physical competitions, and believed in the fair play. Also, when in army, he was initiating forming teams for different sports such as football and polo. While at Cavalry School in France, he also learned how to fence. While still a student, he designed and taught a course in swordsmanship. Later he received orders to return to Kansas, and continued teaching fencing. The title of â€Å"Master of Sword† that he received was his rightfully. During all these years Patton never engaged in the real battle. Pursuing his dream of becoming a hero, Patton asked General John J. Pershing to accompany him in the Mexico Border campaign, in 1915. During this time Patton got recognitio n from the general and notoriety back in United States. This campaign became the first real war combat Patton had engaged in. When the WWI began, Patton was accompanying General Pershing, the commander of Headquarters Troop, in his trip to France. Patton was promoted to Captain, then, temporarily, to the Major. He was given a command of the Army Tank Corps – a novelty in the Army at that time. The Battle of Cambria was the first battle where large number of tanks was used. Patton attended this battle only as an observer, but, after what he had witnessed, he was convinced

The role of state fusion centers in preventing terrorist acts Term Paper

The role of state fusion centers in preventing terrorist acts - Term Paper Example Furthermore, most of the security agencies were not on a very high alert for any foreign attacks on the United States because such threats were considered nonexistent. Instead, security agencies concentrated on the potential from within and this was a huge flaw on their part. The American military had bases all over the world in allied countries and these had been put in place to protect American interests in these respective regions. The military had not seen much active service since the 1991 Gulf war and its presence in allied countries functioned as a deterrent to those who would wish to harm American interests. All these, however, changed after the attacks and the need for cooperation between the different security agencies in the country was realized. The origin of state fusion centers creation provide a means through which information can be gathered and shared between different law enforcement agencies, ensuring that the terrorist threat to the United States is recognized ear ly and dealt with swiftly. State fusion centers are facilities that have come to allow investigators to pool data from local, state and federal sources to ensure that the terrorist threat to the country is averted. ... The system was created to ensure that investigators had all the information they needed in order to perform their tasks effectively, and it allows local investigators to access the federal Homeland Secure Data Network. The system has been designed to provide individuals in security agencies access to classified reports from federal agencies like the Department of Homeland Security and the Federal Bureau of Investigation. This has made up for the previous lack of information sharing between security agencies and has created a situation where it has become easier for terrorist threats to the nation to be detected and whenever there has been any danger, it has been swiftly countered so that the nation has remained secure (Desai, 2005). State fusion centers have become indispensable in the fight against terrorism on American soil and this has justified their continued existence of this system. The state fusion centers help security agencies to look for connections among potential terrori st suspects so that they can find more information concerning them and the danger that they may pose to the people of America. They do this by looking through hundreds of law enforcement sources around the region and these carry a large amount of information concerning individual suspects and their associates. The information that is often investigated ranges from traffic violations, to jail records and criminal histories. Furthermore, this also includes information concerning public records such as property records. As the investigation widens, and investigators identify suspects, the system can help lead authorities to known associated of the suspects who may be involved in further terrorist plots against the country or its interests elsewhere (Ratcliffe and Guidetti, 2008).

19th Century American Imperialism & 20th Century War Essay Example for Free

19th Century American Imperialism 20th Century War Essay Captain Alfred Thayer Mahan couldn’t have said it any better, â€Å"No nation had ever become great without control of foreign markets and access to the natural resources of foreign countries† (Kinzer 33). Throughout the years, America has had an astonishing obsession with the idea of global imperialism. One can’t help but ask the following question: what sparked this sudden obsession with global imperialism? Even though there are many different factors that helped spark this sudden movement, the biggest single factor was the industrialization of the world’s major industrialist societies, such as England, United States, Japan, and Germany. The sudden explosion of industrialization sparked a huge consumption of the earth’s natural resources, and initiated the need for expansion. Throughout the late 19th century up until today, America has approached global imperialism in a number of different ways. Methods such as deception, intimidation, fear, and violence have all been used throughout the American conquest in order to expand this imperialistic society. America had to start expanding and had to take over weaker countries. See more: Homelessness as a social problem Essay Americans had to look to faraway countries, weak countries, countries that had large markets and rich resources but had not yet fallen under the sway of any great power† (Kinzer 34). This paper will primarily focus on the reasoning provided by Kinzer’s book Overthrow. America has become the imperialistic society it is today because of the rapid 19th century industrialization and the constant American hunger for natural resources, territory, and global domination. â€Å"Whether they will or no, Americans must now begin to look outward. The growing production of the country demands it† (Kinzer 33). During the late 19th century, America enjoyed a successful conquest of Hawaii, Cuba, Philippines, and Nicaragua. Hawaii, which has always embraced a history of tradition and culture, was faced with the issue of modernization. Throughout the years, Hawaii had slowly started to fall under white control. Hawaii has always been a huge producer of sugar, with one problem. The major market for sugar was in the United States, but the Hawaiians could not export as much as they would like because of the high tariffs imposed on imported sugar in the States. When the reciprocity treaty as signed in the summer of 1876, Americans started installing military and commercial bases in Hawaii. The renewed treaty however was what really displayed that Hawaii was falling under white influence. The renewed treaty gave United States control of Pearl Harbor, an extremely fine natural port. On January 14th 1893, Queen Liliuokalani made a disturbing announcement to her cabinet. She proclaimed a new constitution which stated only Hawaiian citizens had the right to vote. This meant that the Hawaiian population of Americans would no longer be able to vote. This move gave Lorrin Thurston and John Colburn the reason they needed to initiate the overthrow of the Hawaiian monarchy, which would mark America’s first overthrow of a foreign government. The alarmed Thurston quickly wrote a letter to John L. Stevens, requesting military assistance for the overthrow of the queen’s regime. Soon after, on July 4th 1894, the Republic of Hawaii was proclaimed. During the Spanish colonization of Cuba in 1897, William McKinley was sworn in as president of the United States. McKinley did not like the idea of the Spanish in Cuba. However when talking about McKinley, Kinzer states â€Å"William McKinley believed that a self-governed Cuba would pose an extreme threat to the United States, for they might not do Washington’s bidding† (Kinzer 35). After all, the revolutionary leaders in Cuba were already talking about the social reforms and land redistribution they wanted to initiate. This greatly alarmed many American businessmen, for over $50 million was invested primarily in Cuba’s agriculture. McKinley had finally had enough and had decided it was time to use military force to end the Spanish regime in Cuba. On April 25th 1898, the Spanish-American War had officially begun. After the Spanish surrender, America started to kill Cuba’s dream of independence. In the 1898 Treaty of Paris, Spain gave up all rights to Cuba, surrendered Puerto Rico and Guam, and sold Philippines for $20 million to the United States. The Platt Amendment gave the US some economic and military control of Cuba. McKinley initially only wanted to build a naval base at Manila, Philippines. Later however, he decided he would embark on a journey of Christianizing the country. This was unnecessary however, for most Filipinos were already Catholic. On June 2nd 1899, the official Philippine-American War started. The United States would win the war, and dissolute the First Philippine Republic. At this point, the United States had obtained, by force, full sovereignty over the Philippines. With Cuba, Hawaii, Philippines, Guam, and Puerto Rico under its belt, America now had access to a wide array of natural resources and an assortment of markets. However, the conquest would not end there. In order for one to understand the takeover of Nicaragua, one must understand Central America in the late 19th century. The late 19th century proved to be a strong idealistic era for Central America. Ideas of both social and political reforms were sweeping many Central nations, ideas inspired by European philosophers. These ideas were absolutely despised by the American government, for these ideas called for change. These ideas were admired by Central Americans because they all desired change. Jose Santos Zelaya became president of Nicaragua in 1893. He adopted many revolutionary changes, such as importing the automobile and legalizing civil marriage. He also had a very strong emphasis on building and expanding the country’s infrastructure. At first Zelaya and America were on good terms, for there have been talks of building a canal through Nicaragua. Later however, Panama was chosen as the building site, temporarily ending American interest in Nicaragua. As historian John Ellis wrote â€Å"To the State Department, Nicaragua was no longer a country that needed to be coddled or cared for in preparation for future usefulness, rather, it was not a country that needed to be watched carefully and kept in line† (Kinzer 60). A very strong nationalist, Zelaya was giving some of the American business based in his country trouble, which didn’t appeal to the United States secretary of state Philander Knox. What angered Knox even more was that Zelaya went to European banks to borrow money for his railroad project, not American banks. This showed the Taft administration that Nicaragua was trying not to depend on the States as much as they used to, which of course cause congressional panic. After much trouble from Knox, Zelaya finally resigned in 1909. After the brief command of Jose Madriz, Juan Jose Estrada took over the country, and the new conservative government was much admired and supported by the United States. Estrada’s coming to power marks the conquest of Nicaragua, because of America’s strong influence on Estrada’s regime. As demonstrated, the United States has always obtained a hostile approach regarding takeovers and conquest. The first overthrow took place in Hawaii where the queen was relieved of her position. Cuba was later obtained from Spain with the help of brute force and intimidation. Philippines and Puerto Rico were also obtained in the same fashion. Nicaragua’s government fell victim to an American sponsored coup, and their government was taken over by the Americans. It seems like there has always been a recurring pattern throughout American history. If you try to stand up to the US government, you will go down. If you operate your country in a way that doesn’t appeal to the US government, you’re going down. If you just happen to be doing good for your country, there’s still a good chance you’re still going down. America has always been that big bully that beats on the little kids at school, because they are just too weak to defend themselves. America throughout the 19th century was a product of a heavily industrialized society, a society that must rely on domination of other markets and other countries’ resources in order to keep expanding and thriving.

The Revolutionary War :: essays research papers

The Revolutionary War was an enormous part of American history. The revolution in Russia, that sparked the overthrow of communism, was a huge part of Russian history. The revolution of Christianity from the concepts of Greek gods was also a large part of religious history. Christianity and Greek gods have many comparisons, contrasts, and these contrasts resulted in Christianity being revolutionary. The concepts of Christianity and the religious concepts of the Greek gods are comparatively alike. To begin, in both religions, humans believe that there are speakers for their God/gods. Gods do not speak to mere mortals. These people are the priests who teach of the gods ¹ ways and wants. Some are fortune tellers or prophets, as they were called in Greek times, that foretell the future. For example, Tiriesias, in the plays Oedipus the King and Antigone, was a blind prophet who could see the future and foretell it to people. In Greek times the prophets were of high social status. Also, the people believe that their God or gods are above all human ranks. They believe a god is above all and listens to people when they need help. This is why humans pray to the God/gods for forgiveness. The two religious views also believe that the God/gods are watching over their followers. The God/gods decide either before or after a person ¹s life on earth where the person will live in the afterlife, depending on the person ¹s values. Both believe one would either go to a bad place, called Hell or Hades, or a good place, called heaven or the Elysian Fields. Likewise both believe in an afterlife that is eternally chosen. The ideas of the followers of Christianity and Greek religions are also very different. To begin, Christians believe in one almighty God. This is also known as monotheism. Christians believe this God gave the world his only son. When that son was put to death by a human, He told the people He would die to forgive their sins. This shows that God and His son were both caring and forgiving beings. They are respected by the followers of Christianity. God helps humans. Humans pray to this God for help and forgiveness. People also go to church to learn about their religion and to pay their respects to God. The church is thought to be God ¹s house. This is why people get dressed up and try to look nice when they are guests in God ¹s house. God and Jesus are thought to live in heaven. Greeks, however, are very different from Christians. They believe in many gods. This is also known as polytheism. These gods are mean and torture the

Arguments For ‘Invitation To Treat And An Offer

The English Law on the formation of contracts generally requires there to be an offer and a matching acceptance. The offer must set out and refer to the object for sale and all the important terms of the contract. The acceptance must indicate agreement to all the terms of contract. If it does not do so, the acceptance will be regarded as a counter-offer which is capable of rejecting the original offer, thereby making it incapable of acceptance later (Hyde v Wrench (1840) CC 49 ER 132).There are two offers, the one made by Susan through the advertisement on the 1st of March and that of Alice in response to the initial offer on the 27th of March that amounted to a counter-offer. There is also the issue of the application of the postal rule and its limitations in the case of Tahir, the issue of instantaneous communications and when the revocation of an offer becomes effective in the case of Emma and its rules.In Tahir’s case, the letter and enclosed Cheque he sent on the 27th of March would have been the most preferable choice of acceptance because the general postal rule would have applied easily which allows the effectiveness of a posted acceptance to start right from when it was posted, so as to enhance the effectiveness of businesses, if they can start working farther on the assumption that there is a binding contract between both parties as in Adams v Lindsell (1818).But, the fact that Susan defined the terms of the contract by stating the modes of acceptance and payment that was acceptable, which does not include a letter or a cheque makes the postal rule ineffective on Tahir’s letter, as it is unacceptable. Although, sending a letter as a form of acceptance was reasonable; there is no binding contract between Susan and Tahir because of the definition of terms and conditions of the offer. Alice’s letter on the 27th of March is a counter-offer which is capable of rejecting the original offer.If Alice had not altered the terms of the offer , which resulted in an offer of her own, The letter would have been an acceptance, and the usual rule when a letter of acceptance is sent in reply to an offer is that the acceptance takes effect on posting, ensuring there is a binding contract. However, this postal rule has no application here, since; the case of Holwell securities v Hughes (1974) makes it clear that the rule can be avoided by a specific request in the terms of the offer according to LAWTON L. J â€Å"Now in this case, the â€Å"notice in writing† was to be one â€Å"to the intending vendor.†It was to be an intimation to him that the grantee had exercised the option: he was the one who was to be fixed with the information contained in the writing. He never was, because the letter carrying the information went astray. The plaintiffs were unable to do what the agreement said they were to do, namely, fix the defendant with knowledge that they had decided to buy his property. If this construction of the o ption clause is correct, there is no room for the application of any rule of law relating to the acceptance of offers by posting letters since the option agreement stipulated what had to be done to exercise the option.On this ground alone I would dismiss the appeal†. Considering, the email Alice sent on the 28th of March, which would have been the most suitable form of acceptance as at that time, although it was sent on Friday, it was out of office hours and so Susan is unable to read it, therefore the acceptance was not communicated as the instantaneous communications rules requires as in Entores v Miles East Corp. It is generally agreed that the instantaneous communications will cover the email, and so the time of communication, rather than the time of sending, is the relevant time.Applying this rule to Alice’s email, the email has no effect because as at the time it was communicated the offer was no longer capable of acceptance. Alice has no binding contract with Sus an because her letter was a counter-offer and the email was communicated when the offer was already withdrawn. The case law on revocation of offers establishes that offers can be withdrawn at any time prior to acceptance (Payne v Cave (1789)), provided that the withdrawal is communicated to the offeree.The latter point is reinforced by the decision in Byrne v Van Tienhoven (1880), which concerns the revocation of an offer by telegram. Applying this to the dealings of Emma and Susan, If Susan received Emma’s email before the revocation was published in the papers, the revocation will be ineffective, and there will be a binding contract. This assumes, however, that the advert is deemed to be  communicated to Emma as soon as it was published and available to read on the 29th of March, because the information in the advert is sufficient notification to Emma that Susan has withdrawn the offer.Although, Emma may want to argue that the offer was open until the 31st of March, there fore they have a binding contract. This is not so, using the case of Routledge v Grant (1828), in which it was held that a promise of this kind will not generally be binding. The reason is that the promise will generally not have provided any consideration for the promise.If Susan had been given any amount of money or valuable in return for keeping the offer open until the 31st of march, then consideration would have been provided, and she would be bounded to her promise but in the absence of such she is free to withdraw the offer anytime. Therefore, Emma’s email has no effect because, she bears the responsibility of reading the revocation in the paper as Susan has taken the most reasonable form of communicating the revocation in this case. In conclusion, there is no binding contract between Susan and the other parties.

Understand How To Handle Information In Social Care Settings

Data Protection Act 1998 (amended in 2003) – The Data Protection Act 1998 (amended in 2003) is a UK law that was set up to protect people’s personal information and who the information was shared with. The act also enables people to make sure that their information is being handled correctly. The 1998 Act replaced and consolidated earlier legislation such as the Data Protection Act 1984 and the Access to Personal Files Act 1987. The Data Protection Act 1998 (amended in 2003) is a legal obligation to everyone who holds information about a person.Non-compliance with the Data Protection Act is a criminal offense. Examples of people who hold information who would have to comply with the Data Protection Act 1987 (amended in 2003) is you’re GP, NHS, Private Companies etc. If you’re GP was to disclose information about you to your mother or father without your consent this would be going against the Data Protection act which could lead to the GP being prosecuted for committing a criminal offense and being non-compliant.Freedom of information act 2000- This act was created to allow members of the public to access information held about them by different public bodies. For example if the NHS holds information about you under the Freedom of Information Act 2000 you have a right to know what this information is and who it is available to. There are three ways to find out information under this act.You can request this information electronically by sending an email to them from their website or using the contact us section.You can write to the department with a request form or a letter requesting access to the information.You can fax the department to request the information.There may be a charge for the information and you can find details of costs by looking on the public bodies’ website, calling them or writing to them. The Health and social Care Act- also has guidelines and legislations on how to handle people information correctly.Ca re Quality Commission’s Guidance about â€Å"Essential Standards of Quality and Safety Outcome 21†- Provides you  with information on how to handle people information and comply with legislation and laws. The General Social Care Council can also give you information and guidelines on their website about handling people information You can also find out how to handle information by looking at your company policies and procedures manual, looking in your own code of conduct and requesting information from your line manager about how to do this effectively.Q 1. 2 Explain how legal requirements and codes of practice inform practice in handling information?A 1. 2 Legal requirements and codes of practice are guidelines, policies and procedures that everyone has to adhere to in their day to day activities when handling information.The guidelines protect you from committing criminal offenses where it is a legal requirement or from facing dismissal when it is a company’ s policy or procedure. Legal requirements give you guidance and support when storing and handling personal and confidential information about an individual, it will enable you to store information correctly and safely.Q 2.1 Explain how to maintain records that are up to date, complete, accurate and legible?A 2. 1 A good way of maintaining records is on a computer or in a file that can be kept confidential and kept up to date.Records should be updated each time the individual is seen, either at home or in a clinical setting. Records must always be factual and not an opinion, they must be accurate and legible for others to be able to read. When recording information you must date time and sign the documents in some cases the service user may need to sign them as well.There are many thing that you need to update in the records these include: Date and time of arrival or visit what happened what tasks were completed i. e. washed, dressed, fed, medication Outcome of visit and any requests from the service user. For example if you go and visit a service user and you have gave them breakfast and medication for the day you must state this in the records as the next visitor may give the client breakfast and medication again which could overdose the service user.Q 2. 2 Describe practices that ensure security when storing and accessing information?A 2. 2 There are many different ways to ensure security when storing and accessing information: Passwords on computers enable unauthorised people from accessing records as well as emails Keeping records locked away in a filing cabinet/cupboard with a key that only someone who is authorised to open it has the key. Not leaving notes lying around to be seen by anyone Make sure that handovers are done in a room where no one can hear Making sure conversations with service users are in private and not breeching confidentiality.Not discussing information with people on the telephone or if you do doing this in private so no one else can hear. Making sure files are returned to the filing cabinets when not in use.Q 2. 3 Describe features of manual and electronic information storage systems that help ensure security?A 2. 3 It is important to keep all clients information in a secure location (i. e. filing cabinet for paper based records etc. ) if any records are taken out of the secure location to be used in updating or retrieving information from they are to be kept away from unauthorised users.For example if you visit a service user in the morning but no longer need their records it should be put in the secure location out of reach of others who are not authorised to use this. Electronic records are to only be accessed by a password which will stop unauthorised people accessing the records. Electronic systems will also record who, when and what time the records have been accessed and what the person was doing when accessing the information. For example is Joe blogs record needed updating to say he was on a new medic ation.You would log into the computer and put a password into the files to allow you access the computer system would record who you are and what time you accessed the file and what you did with the file. (I. e. amended information, updated records etc. ) Always making sure there is a backup of document paper documents should be photocopied and stored in a filing cabinet that is labelled. Electronic records should be backed up either on a USB stick or a server to make sure records are not lost.Q 3. 1 Explain how to support others to understand the need for secure handling of information?A 3. 1 Ways to support others and making them understand the need for secure handling of information is by following policies and procedures yourself which shows good practice. Showing people policies legislation and procedures about handling information and monitoring the way they handle peoples information and offering them guidance and advice on how to handle peoples information in the most secure way meeting the legislation that is in place, advise them to read the data protection act and the companies code of conduct.We all have a duty to follow the procedures and legislation for handling information. If someone does not know how to do this you can show them how to do so, as well as showing them how to update information where required.Q 3. 2 Explain how to support others to understand and contribute to records?A 3. 2 You can support other by raising their awareness of the consequences of not updating records, making them legible and not following policies and procedures in compliance with data protection. Make sure that you colleagues know where to keep secure files and how to store them. (I. e. alphabetically. )

Chargaff Erwin essays

Chargaff Erwin essays Erwin Chargaff, born 1905 in Czernowiz, Austria, was a pioneer in biochemistry contributing to the understanding of DNA. He, in 1928, earned his doctoral degree in chemistry at the University of Vienna's Spath's Institute in 1928. Erwin began his career in biochemistry at Yale University, working under Rudolph J. Anderson from 1928 to 1930. His early work included stories of the complex lipids, the fats or fatty acids that occur in microorganisms. Helping discover the unusual fatty acids and waxes in acid-fast mycobacteria led him to study the metabolism and biological role of lipids in the body. Chargaff was also a pioneer in the use of radioactive isotopes of phosphorus as a tool to study in the synthesis and breakdown of phosphorus-containing lipid molecules in living cells. He published a paper on the synthesis of a radioactive organic compound called alpha-glycerophosphoric acid. He began to study nucleic acids in 1944, while at Colombia. Until this time scientists believed that amino acids carried genetic information. DNA was also believed to contain the tetranucleotides made up of cytosine, thymine, adenine and guanine, that served as an attachment site for the amino acids that made up genes. It was already known that a cell's nucleus is comprised in part by DNA, Chargaff was able to determine how much of which bases were present by measuring the amount of light each quantity of base absorbed. He showed that adenine and thymine occur in DNA in equal proportions in all organisms and that cytosine and guanine are also found in equal quantities. Chargaff's major conclusion is that DNA carries genetic information, and the number of different combinations in which the four nucleic acids appear in DNA provides enough complexity to form the basis of heredity. Finally, he concluded that the identity of combinations differs from species to species and that DNA ...

Dialogue Helps to Tell Your Story

Dialogue Helps to Tell Your Story Dialogue Helps to Tell Your Story Dialogue Helps to Tell Your Story By Guest Author This is a guest post by Charles A. Ray. If you want to write for Daily Writing Tips check the guidelines here. Dialogue can make or break your short story or novel. No matter how good the plot or subject line, poorly-written dialogue can turn a reader off quicker than anything. I recently read a draft novel manuscript that had a fascinating premise, a compelling story line, and conflict aplenty. I was, nonetheless, completely turned off because every character in the story sounded exactly alike. They all used the same stilted Shakespearean speech, and sounded as if they were reading from Hamlet. Even a street smart black activist student, who was portrayed as aggressive and racially sensitive, talked as if he was the villain from Othello. This is not to suggest that the character should have been lampooned, or that his dialogue should have been a parody of ‘Amos and Andy’ or ‘Shaft.’ But, the character would have been more credible and believable if the dialogue had been less formal, with more use of modern slang, instead of the formal speech that was employed. The only slang word this character used in the first chapter, in over a half page of dialogue, was the word ‘ofay,’ which was inserted in a formal sentence, making it stand out like a pimple on prom night; and it was as unwelcome and out of place as a pimple. Reading the passage, which described his encounter with his professor, I had difficulty telling which of them was speaking without looking at the tags, or going back to see who spoke last. This was clearly a case of poor dialogue ruining an otherwise good story. A more effective technique is to give each character a distinctive voice; either through the words they use, or some other action that belongs to that character and that character alone. Dialogue should be written so that the reader knows immediately which character is speaking. A good way to learn to write effective dialogue is to eavesdrop on the people around you. Note the quirks that distinguish one speaker from another. For example, teenagers these days seem to put the word ‘like’ indiscriminately in their speech. Here’s an example of a conversation I overheard on the subway one day, â€Å"He was like really out of control, and like I just couldn’t get into what he was like saying, you know.† That is an actual line of dialogue that could be used in your story. You have to be careful in most cases not to use what you hear verbatim. People don’t often say what they want to say as succinctly as you need your characters to speak to keep your story moving; but informal expressions in your dialogue will make your characters sound like real people. If you want your writing to keep people interested, in addition to a strong plot, and an interesting theme, you need characters that people find believable. This means learning to write dialogue that holds a reader’s interest as much as the plot. Dialogue, when well written, can help to identify a character more effectively than paragraphs of description or narrative, and it can help keep your story moving. More importantly, it can keep a reader interested in your story from the opening sentence through to the end. You can check Charles page on RedRoom for commentary on leadership, politics and life in general, as well as information about his books. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Fiction Writing category, check our popular posts, or choose a related post below:When to use "on" and when to use "in"Flier vs. Flyer5 Keys to Better Sentence Flow

Questions Assignment Example | Topics and Well Written Essays - 1000 words

Questions - Assignment Example Flow of capital is determined by real interest rates. When domestic real interest rates rise, the domestic assets become more attractive to foreign investors. These investors buy this country’s assets assets resulting in capital inflow. Higher interest rates also induces domestic investors to buy home assets instead of foreign ones. This significantly reduces the amount of capital outflow. This leads to a decline in the net capital outflow. A decrease in the domestic real interest rate will substantially reduce investors returns from their investments. This will discourage foreign investors from investing locally hence reducing capital inflow. Domestic investors will shift their investments to countries with rising real interest rates thus increasing capital outflow. This will ultimately lead to increased net capital outflow. Relationship among saving, investment, and net capital outflow. According to Lukes (1959), disposable income is used for consumption and investment. The amount of money saved is the one used for investments and therefore investment is equal to savings. The total amount of a country’s savings is used for domestic investment and purchase of capital goods abroad. As explained above, net capital outflow is the net flow of funds being invested in other countries by a country during a certain period of time. ... In economics, the term investment refers to purchase of new capital and other factors of production often through the use of loans. As shown in the graph below, the demand curve in the loanable market is downward sloping from left to right while the supply curve in the same market is downward sloping from right to left. According to John ( 1936), when the real interest rate increases, the cost of taking loans increases. This leads to low investment as investors shy away from acquiring loans to fund investments due to the increased costs. On the other hand, when the real interest rates are low, the cost of taking loans reduces hence loans becomes more attractive to investors. This translates to increased investments. When the real interest rate rises, people save more in order to take advantage of the increased returns on their savings. Therefore, there will be increased money saved in the economy. On the other hand, when the real interest rate decreases, people will be discouraged fr om saving by the low returns they get due to lower real interest rates, leading to low savings. The foreign exchange market is a market for trading of currency. In this market, one party exchanges one country’s currency with an equivalent quantity of another currency. The exchange rate is the price of one currency in terms of another currency. The major role of foreign exchange market is to facilitate the loanable funds market. Foreign goods are usually priced in foreign currency and therefore an investor will need foreign currency to buy foreign assets. The rate at which a currency is exchanged for another is determined by the demand and supply of that currency. The higher the demand for financial assets in a

Starbucks Assignment Example | Topics and Well Written Essays - 250 words

Starbucks - Assignment Example Besides the manager himself, there was a separate person attending to other needs and ensuring that orders were prepared exactly as specified by the customers. Yes, it is. The shop’s location is quite strategic, being one of the Starbucks shops most accessible in the area. I suppose that Starbucks should try setting up McFood booths in malls, along the paths or underpasses near it, or in places commonly frequented by people to promote the coffee while selling McFood at affordable costs. The way I see it, I think I do. People just love good coffees all the same, having become second to their nature and stapled to routine, especially before and after work or whenever they would find time to relax with friends. There is a great deal of profiting from consumers with laptops – those often governed by technologies, nowadays – and who would stop by for coffee either to unwind with a gadget playing, reading, or finishing a home-based work. Despite the negative state of economy, people normally find a way to prioritize what they love doing and spend even for expensive drinks. I like the way they treated everyone equally, not discriminating with respect to outfit, appearance, or anything that may allow harmful judgment of one’s class or status in society. At the time, I can feel their respect for every customer, going in and out of the store, as though in keeping up with economic and cultural

Integrating Quality Assurance Principles in the teaching-learning Essay

Integrating Quality Assurance Principles in the teaching-learning environment - Essay Example Programmes developed by the organisation must remain focused on the existing rules and regulations from relevant authorities within the education sector. Through adherence to rules and regulations, organizations could potentially gain recognition from various national and international authorities. Organisational accreditation can also become achieved through ensuring adherence to all rules and regulations provided within the industry (Gonzales, Theresa, & Nair, 2004). Educational objectives of the training institute All teaching institutions have their established objectives, which provide guidelines when undertaking teaching. The educational objectives provide guidelines on the establishment of vocational training and the programmes that can be offered. These are elements that must become critically analysed before engaging in teaching programmes. The fundamental reason behind making an evaluation of the objectives remains, ensuring the programmes suffice the requirements of the institute(Smith & Keating, 1997). The VET organisation’s objectives must remain viable and in line with the institutional objectives. This would ensure the two organisations work harmoniously towards achieving similar objectives and targets in delivering vocational training Qualifications of teaching staff Successful implementation of a teaching program requires the utilisation of highly trained academic staff that would be used in delivering essential learning services to learners. As some of the most important stakeholders, teachers must have the desirable qualifications for delivering information to learners as required. The professional qualifications of the teachers remain fundamental in ensuring they have the capability to deliver the learning as required by the organisation. The qualification of teachers remains a key factor affecting delivery of the learning and consequently becomes displayed in the learning outcomes as gained by the students (Ntukidem, Etudor-Eyo, & Etuk, 2013). Achieving good learning outcomes within the learners would heavily depend on the qualifications of the teachers delivering the learning. Many vocational organisations provide specialised learning to learners with unique academic requirements. The services offered by these organisations remain heavily dependent on the capacity of the teachers to deliver the services as required. Qualifications of these teachers therefore would also include their capabilities in understanding the environment under which the teaching is performed. Teacher qualifications become essential in ensuring the teacher understands the requirements of the learners and organisation. The environment under which the learning occurs is sometimes a challenge to both the teachers and learners. Professionally qualified teachers, become aware of these conditions and have the capacity to undertake teaching within this setting. Teaching equipment Teaching equipment provides the teacher with the capacity t o undertake teaching responsibilities easily and efficiently. They offer the required assistance in making teaching simple and learning easy. These tools remain the fundamental elements that ensure efficiency of the teaching process, despite the qualifications of teachers. The role of teaching equipment remains that of aiding teachers in delivering services to learners. Without equipment, teaching would become extremely difficult and many learning outcomes

Causes of the US National Debt

Causes of the US National Debt How big is the US National Debt and history? By definition, the amount of money owed by the federal government to creditors is referred to as the US National Debt. The National debt is categorized into two; public debts and government. Government debts are always on the rise due to the increase in government spending and expenditure, unpaid credits by debtors, decreased taxes among others (Zezza, 2014). The US National Debt has a historical increment due to the rise in debt as a share of the GDP during the recession periods and times of war. A combination of inflation and growth of GDP results in decreased national debt. The national debt of the US, for instance, increased after the World War II to 113 % in the year 1945 (Zezza, 2014). However, this figure later went down in the subsequent thirty-five years. In the past few decades, there have been concerns of how sustainable the fiscal policies of the US National government are based on the rise in costs of medication and the growing number of old people in the US population ( Zezza, 2014). According to Sakbani (2013), the public debt of the US was at $ 14.3 trillion of the overall GDP while the inter-governmental debts were $5.4 trillion. This totals to about 10.6% of the 2015 GDP. Sakbani (2013) further notes that more than 45 % of the US national debt in 2016 was by foreign investors with Japan and China in the lead. Precisely, an analysis of the US national debt reveals that the debt has had a constructive decline since the year 1789 apart from between 1835 and 1836 (Chorafas, 2014). The debt was at the highest level during the first term presidency of Harry Truman which was during and after the Second World War.   After the second world war, there was a notable fall in the national debt in the US. The US national debt was at its lowest point in 1974 under the leadership of Richard Nixon (Sakbani, 2013). However, after 1974, the national debt started appreciating and this has been the trend since then. But it stagnated during Bill Clinton and Jimmy Carter’s presidency. In the 1980s there was a tremendous increase in national debt due to Ronald Reagans decision to lower taxes and increase military expenditures. However, in the 1990s the debt went down when a reverse of the 1980s was implemented; increased taxes, and lower military spending. Chorafas (2014) highlights that due to the fina ncial crisis between 2007 and 2008 the public debt went extremely high. There seems to be a surge in national debt during the GW Bush and Obama administrations. Why? There was a considerable rise in national debt between the presidency of George Bush and that of Barrack Obama. This was from $ 5.768 trillion when Bush left office to $ 14.071 trillion 735 days after Obama took office (Skidmore, 2011). This means that the recording of Bush’s national debt was wrong. This is because in his term as the president there was a rise of $ 607 billion yearly hence the overall figure could not be $ 5.768 trillion as indicated in the Treasury records. Skidmore (2011) further explains that during Obama’s era the national debt considerably went high by an average of $ 1.723 trillion yearly. This saw the figure go way up above the debt during Bush’s presidency. However, it is not possible to hold Obama responsible for this increase in debt. This is because the figures flow from the 2009’s budget which Obama never signed. This means that if the right account to Obamas accounts are to be analyzed this should trail down from the fiscal year 2010 and 2011 (Sakbani, 2013). In addition to a sum of $ 225 trillion that was included in the 2009 budget under his signature. A close comparison of Obama’s and Bush’s spending and deficit reveal that Bush was way far than Obama based on managing of the national debt. This argument can be supported by; Bush operated a total budget of 3.283 trillion in deficit spending for his eight fiscal years in office. On the other hand, Obama operated at a spending deficit of $ 2.826 trillion within his first two years in office. This means that while Bush operated at a deficit of $410 billion per annum, Obama operates at more than $1.4 trillion per annum, giving a difference of more than 1 trillion between the two reigns. This analysis explains the current surge between Obamas presidency and Bushs presidency regarding deficit spending. What are the consequences of a large national debt? Is it going to hamper the economic growth as some have claimed? Based on an economic perspective, large national debt affects the economic growth negatively. It is almost impossible for a government or country rather to sustaining a large and growing national debt. Some of the effects come from the side of investors who begin doubting the possibility of the federal government to continue servicing the economy and government spending (Boubekar et al., 2016). There are three major effects of large national debts on a country’s economic growth. First, large debt draws money away from national investments which would earn then government some revenues. This is due to lack of enough money for the government to service effective investments. This would mean that the government is heavily spending, but there are minimal or no revenues being generated hence lack of capital to be reinvested. There will be no growth in the country’s economy. Secondly, large debts negatively influence taxation and spending by the government. This is because when the country is suffering from high national debts, all the attention are focused on what the government can do to continue sustaining itself. This is where the government adjusts. As Boubaker et al. (2016) put it when taxation is high workers and investors are negatively affected by tax increment and can be left with little or no money to reinvest. Also, the tax increment leads to economic downturn from the side of the policymakers and investors. Policymakers find it challenging designing policies on tax spending in an environment where there is an extremely high national debt. The economic growth is normally hard in such a situation based on the fact that there are no sufficient funds to fund any new challenges that arise along the policy-making and policy implementation processes. Is it possible for the US to default on its debt in future? Explain The United States does not have any record of ever defaulting on national debt. If this ever happens the results can be unimaginable. However, there have been cases when the House Republicans have resisted raising the house ceilings urging the Congress house to cut on spending first (Johnson, 2000). It means that there are possibilities of the US failing to honor their national debt shortly. Precisely, the US can default their national debt in two main ways; failure of the Congress to raise the debt ceiling, and is the Government decides that the interests they are charged are way too high and resolve to not paying interests on bond, notes, and Treasury bills. In the first case scenario, failure by the Congress to raise the debt ceiling would mean high interests rate on Treasuries, hence high costs on the consumer loan, mortgages, and other such services (Johnson, 2000).This will then lead to decline in the value of a dollar and finally inability of the government to pay salaries and benefits to their civil servants and retirees. On the other hand, in the second scenario, there would be a disaster as the value of treasuries in all the government’s secondary markets would stagnate or go down hence Treasuries would be sold at discounted prices (Cline, 2013). The government would find it hard to auction their treasuries hence making it hard for them to borrow money and pay bills. The default of US national debt would be extremely disastrous owing to the confidence most investors have on the US markets. Why the Nobel winning economist Paul Krugman is not as alarmed as many others are concerning the high level of US National debt? It is important to note that the overall national debt is usually a combination of all loans acquired by the federal government from various creditors to finance a deficit budget. In taking and utilizing loans, the government usually has a focus on increasing their tax rates for them to finance their current government spending (Zezza, 2014). Paul Kraugman can be said to be less alarmed on the high level of the US national debt due to his argument that there is no need for investors or anybody else to worry about the level of the impeding national debt of the US. In his argument, Kraugman makes several assumptions. Unlike others, Krugman argues that in as much as debt matters there are other things that matter most and that the government needs to spend more to get the US citizens out of the current unemployment trap (Zezza, 2014). This shows that he had no idea what harm the current high national debt has caused the US and the impacts a further increase in government spending will cause the US. References Boubaker, S., Rouatbi, W., & Saffar, W. (2016). The Role of multiple large shareholders in the choice of debt source. Financial Management, 46(1), 241-387. Doi: 10. 1111/fima. 12148 Chorafas, D. N. (2014). Kingdoms of Debt Public Debt Dynamics of Europe and the US, 24-32. DOI: 10. 1016/b978-0-12-420021-0.00002-6 Cline, W. R. (2013). The multiplier, sovereign default Risk, and the US budget: An overview. Public Debt, Global Governance and Economics Dynamism, 276-29. Doi: 10.1007/978-88-470-5331-1-3 Johnson, K. (2000). National Missile Defense 2015: An Unintended Consequence. Doi. 10. 21236/ada432647 Sakbani, M. N. (2013). The Dual Debt Problem in the US and in Europe. International Debt. Doi: 10. 1057/9781137030573.0007 Skidmore, D. N. (2011). The Obama Presidency and the US Foreign Policy: Where is the Multilateralism? International Studies Perspectives, 13(1), 46-53. Doi: 10.1111/mj. 1528-3585.2011.00454.x Zezza, G. (2014). Fiscal and Debt Policies for Sustainable US Growth. Fiscal and Debt Policies for the Future. Doi: 10. 1057/9781137269539.0012

Gods of Management :: GCSE Business Marketing Coursework

Gods of Management The author, in the Gods of Management, attempts to classify four distinct management cultures that exist within all organizations. The author further uses the ancient Greek gods to symbolize these management cultures or philosophies. There are four types of management cultures or philosophies present within all organizations. The four cultures are the club (Zeus), role (Apollo), task (Athena), and existential (Dionysus) cultures. The first culture the author discusses is the club or Zeus culture. The author uses a spider web to represent the club culture. â€Å"[T]he lines radiating out from the center† represent â€Å"divisions of work based on functions or products† (Handy p. 14). The most important lines however â€Å"are the encircling [lines], the ones that surround the spider in the middle, for these are the lines of power and influence, losing importance as they go farther from the center. The relationship with the spider matters more in this culture than does any formal title or position description† (Handy p.14). The author also maintains that this type of culture is excellent for â€Å"speed of decisions† (Handy p. 15). However, the author also informs the reader that because of it’s speed, quality is dependent upon Zeus and his inner circle. This results in an emphasis being placed upon the selection and succession of Zeus. The club culture achieves its speed through empathy. This in turn leads to very little documentation within the organization and face to face meetings between Zeus and his subordinates or contacts. Furthermore, this culture is dependent upon networks of â€Å"friendships, old boys, and comrades† (Hardy p.16). Because of the high level of trust, the author asserts that this type of organization is cheap to operate. The only costs incurred in this type of organization are those of phone and travel expenses. In essence, these types of organizations value the individual, give him or her free rein, and reward their efforts. The second type of culture that the author discusses is the role or Apollo culture. This type of culture bases its approach on the definition of the role or the job to be done. The symbol the author uses to represent this type of culture is a Greek temple. The pillars of the temple represent the functions and divisions in an organization. â€Å"The pillars are joined managerially only at the top, the pediment, where the heads of the functions and divisions join together to form the board,

Not Legal, Not Advisable

Matthew is planning to open a manufacturing facility. He is considering a â€Å"Christian-only† hiring policy whereby he would determine to hire only professing, evangelical Christians to work in the facility. He asks you for your advice on the following questions: 1. Would such a policy be legal? If so, under what terms and what might the restrictions be? 2. From a Great Commission perspective, would this policy be advisable? 3. How would your answers change, if at all, if they planned to open a Christian school rather than a manufacturing facility? Not Legal, Not AdvisableThere are few organizations that are allowed to consider the faith of employees when hiring. Manufacturing facilities is not one of them. Our Civil Rights Act prohibits discrimination of religion. As U. S. Equal Employment Opportunity Commission (n. d. ) states, the Title VII of the Civil Rights Act of 1964 â€Å"prohibits employment discrimination based on race, color, religion, sex and national originâ⠂¬  (para. 1). Organizations such as faith-based schools and some charitable organizations are not able to use government funding to assist in their activities if the result advances religion.Education Law Center (2010) states that the First Amendment to the U. S. Constitution â€Å"prohibits Congress and all levels of state and local government form enacting laws respecting an establishment of religion. † Public funds can only be used to support the non-religious services they provide. Opening a manufacturing facility that discriminates against race is also not advisable from a Great Commission Perspective. Romans 2:11 states that â€Å"God shows no favoritism† (NIV). God has created the governing facilities for us to use as needed. Christians would not want others to discriminate against them.There also should not be laws that prohibited the teaching of religious beliefs, therefore I think allowing certain organizations and schools to teach their religion should con tinue to be allowed. Education Law Center. (2010, June). Integrating Faith-Based Organizations into State-Funded Pre-K Programs. Retrieved from http://www. edlawcenter. org/assets/files/pdfs/publications/IntegratingFaithBasedOrganizations. pdf U. S. Equal Employment Opportunity Commission. (n. d. ). Title VII of the Civil Rights Act of 1964. Retrieved November 23, 2012, from http://www. eeoc. gov/laws/statutes/titlevii. cfm

CIS8000 GLOBAL INFORMATION SYSTEMS Essay

This assignment specifically addresses the following learning objectives of the course: LO5 Demonstrate effective communication by composing writing that communicates ideas, meaning and/or argument in a format that broadly follows conventions in the information systems field. LO6 Apply technology and online skills to locate relevant information for the  assignments, analyse the presented problems and data, and engage in the use of the resources provided on UConnect. Individual submission Students should complete this assignment individually. You are encouraged to discuss the assignment with others to improve your understanding and clarify requirements but you should develop the solution to the assignment on your own. Plagiarism check You must subject your written assignment to a plagiarism check by the TURNITIN software prior to its submission in the EASE system. The TURNITIN software can be indirectly accessed through the Study Desk without the need to provide any login-id or password. Further details on how you should interpret the TURNITIN results will be posted in the Study Desk. No assignment will be marked if it is not accompanied by the TURNITIN summary report. Case Study You are the CTO of a successful software development company that operates internationally. The organisation is human resource intensive and one of the challenges encountered was to provide an upto-date time sheet record for salary calculation purposes. In order to improve the HR system, you recently attended a seminar on technological innovation that can assist automated clocking of employee attendance, and you were very impressed with the concepts presented in the seminar. It occurred to you that this would offer potential solution to some of the challenges encountered by your organisation and would be well received by the management. As a result of attending this seminar, and subsequent consultation with your senior managers, it was decided that wearable computing based identification cards would be worth an investigation. As an initial step, you wanted to present this concept and associated vision of how wearable technology would benefit the organisation, specifically in resolving time sheet issues for payroll system input. You are required to research the background for a  project to implement and manage wearable computing, use Microsoft Excel to model a business plan, perform sensitivity analysis to validate assumptions, and create a presentation to seek funding and authorisation from senior management to implement and manage wearable computing based identification tags in your organisation. 1 CIS8000 Global Information Systems Strategy Assignment A Activity A: Journal (maximum 500 words) Prepare a journal which records your activities and progress related to completing this assignment. In date order, clearly list the following: ââ€"  Date of research activity/discussion ââ€"  Topic researched or discussed ââ€"  Time duration ââ€"  Brief description of research activity/discussion. Submit this journal (Activity A) as appendix A to the actual report (Activity B) to CEO. Your journal must provide all these activity details to be awarded marks. Activity B: Presentation to Senior Management (maximum 2000 words) Before you commence this assignment ensure you have completed Hands-on MIS Project # 1 to 5 in Appendix S.1 in the Study Book. These exercises are designed to familiarise you with the software, techniques and methods used in the assignment. Part 1: Research the background for the wearable identification tags project Conduct an Internet search to gather relevant background information on the above. In particular, you should address the following: 1. How wearable computing is utilised and its associated risks 2. Advantages and disadvantages 3. The infrastructure required 4. Best-practice for how wearable tags should be managed. Submit this part of Activity B (Part 1) as initial section of your report to CEO (the actual report for assignment A) to be able to understand the concept of wearable computing and identification tags concepts. Remember: some of the readers of the report to the CEO are from non-technical background and do not understand technical jargons and technology behind the wearable computing and identification tags. You are advised to adopt a balanced approach in your writing style in this business report to CEO ( any highly technical information can go into the appendix B of the report). Part 2: Develop the Excel model of the business case Once you have completed Part 1, develop a spread-sheet model of your business costs over a 4 year period. Some of the materials provided in the MIS Projects may help you to come up with a simple modelling. For the purpose of modelling, assume a discount rate of 10 per cent. Your business model should include the following analysis to ascertain the financial viability of the project: 1. Payback period 2. Net present value (NPV) 3. Internal rate of return (IRR) 4. Profitability index HINTS: To obtain the payback period you would first need to calculate the cumulative net cash flow. Use the NPV and IRR functions provided in Microsoft Excel. You may need to search the Internet for information if you are not familiar with how to use these functions. Interpret your results. Use the note in MIS Project #4 – Capital Budgeting Methods for Information System Investments to guide you. Remember: some of the readers of the report to the CEO are from non-financial background and do not understand, Payback period, NPV, IRR, and Profitability index. You are advised to provide descriptions, analysis, and implications of these technical aspects in your actual report to CEO. CIS8000 Global Information Systems Strategy Assignment A Part 3: Perform a sensitivity analysis for the business case Using the results you obtained in Part 2 as the base case, conduct a sensitivity analysis to examine the impact of the critical cost and benefit variables on the viability of the wearable tags project. Provide three specific scenarios of consideration. You must clearly specify the basis of the three scenarios i.e. which critical cost variables they are examining in the sensitivity analysis Carefully analyse your results and make appropriate recommendations to the company’s senior management as to how the critical cost variables should be managed to ensure that the wearable tags project is both viable and sustainable in the long term. NOTE: If you are unfamiliar with the business case and sensitivity analysis concepts you should make an effort to read appropriate material, including those from the Internet, to learn about them. Remember: some of the readers of the report to the CEO are from non-financial background and do not understand sensitivity. You are advised to provide descriptions, analysis, and implications of these technical aspects in your actual report to CEO. Part 4: Create a report to senior management 4.1 Consolidate and cross-analyse your results and findings with justifications and implications from Part 1, 2 and 3. Then prepare an executive business report to the company’s senior management to seek their financial support and authorisation to embark on the project. 3 CIS8000 Global Information Systems Strategy Assignment A Marking criteria You are strongly advised to read the marking criteria carefully before starting on your assignment. In particular, note the marks allocation for each part and sub-part in Activities. Ensure that the length of your solution should be commensurate with the allocated marks. General guidelines for Activity B Your submission must be submitted to the CEO as a report in a single document, not an essay. Please note that reports do have subheadings and an appropriate letter of transmittal is required.  The word count does not include the following: executive summary, letter of transmittal, table of contents, figures, tables, references or appendices. The body of the report should be about 2000 words in length and you may lose marks if it varies by more than 10%. You must demonstrate additional research from outside the text. Suggestions for other references include other general texts on information systems  management, industry journals, periodicals, electronic databases etc. (many of which are available online from the USQ Library at: Use the Harvard referencing format for in-text references and the reference list. Your references should include at least one web/electronic link but all the references should not be from the web (ie URLs). Refer to chapter 2 (referencing) of the Communication Skills Handbook 3ed. for further details. Inappropriate referencing or excessive grammar/spelling errors will incur a penalty. You should refrain from cutting and pasting chunks of materials from the Internet as this will be treated as plagiarism. To avoid any allegation of academic misconduct from unintentional plagiarism from Internet sources it is compulsory that you use the TURNITIN software to check your work before submitting it. Remember TURNITIN may take more than 24 hours to produce the report. There are few other free applications available on the net to check plagiarism and you are allowed to use them as well. You must state your assumptions clearly, validate the stated assumptions through proper literature search, provide a compelling case for cost and budget figures. You may use any format for the report, and the Internet provides many examples of Executive Type report, and you are encouraged to search for samples that suit your needs. (each report supposed to have title page, letter of transmission, table of contents, executive summary, conclusion & recommendations, references and appendixes) Report formatting instructions Major headings should be in upper case, 14 point Times New Roman Bold. Minor headings should be in lower-case, 12 point Times New Roman Bold. Body text should be formatted to 12 point, Times New Roman. Page size should be A4. Allow for a 25 mm margin on both sides of each page, a 25 mm margin at the top of each page and a 25 mm margin at the bottom of each page. Use single line spacing. Your assignment should be submitted in one of the following formats: – Portable Document Format (.pdf).