A Patch of Blue Elizabeth Kata

In her novel, A Patch of Blue, Elizabeth Kata tells a horizontal surface of Selina, an eighteen year old imposture girl who meets and develops a relationship with Gordon, an cured swart man. Gordon helps Selina realize many hopes and dreams, though non without almost drawbacks. One of the disadvantages of Selina and Gordons relationship is that he is subject to observe express her about the colour of his skin. Selina hates filthy people because the only colour that she stinkpot see is black, and she has grown to despise it.Rose-Ann and Ole Pa besides dont want black people, and Selina has therefore grown up to believe that she too, should hate Negroes. For example, she meets a sm totally-minded girl named Pearl. Since Selina is blind, she has no way of subtile that Pearl is black. Ole Pa returns and tells Selina that Pearl was a black girl. Selina instantly call backs Black I hated Pearl. I had enough black in my lifespan. Selina was elated to cod met Gordon and i n turn her home life was made more difficult as a result of this friendship. Every twenty-four hour period before Ole Pa would leave for Mens she would be blab him to take her to the park.More often than not, he would get angry and interpret no leaving Selina to think up some conniving way to get him to say yes. Being with Gordon was slowly teaching her to speak her mind and state her opinions. Rose-Ann seemed to feel that Selina was alone a commodity who shouldnt think or speak. Almost whenever Selina spoke Rose-Ann would handcuff her for the rudeness. This made Selina more and more rough and the consequences got tougher for her to handle. At one point, Selina is so panic-struck of Rose-Ann rage that she hides under the bed.Rose-Ann drags her out squall Oh you slut. Oh you slut Selina is no slut. There be several advantages of Selina and Gordons friendship, the first organism the many immature experiences he gives her. not all were positive experiences, but they were al l exciting and new. Gordon gives her some pineapple juice, which she has never tasted before. Selina instantly loves the taste describing it as insobriety beautiful fruity stuff from bottles They also go to Gordons apartment, which is where many new things happen for Selina.The first of these is her first taxicab ride. In the beginning, she was scared, but was eventually coaxed into it by Gordon and she ends up thinking I would have liked a longer drive. They hence go into the elevator up to his home, which also scares her and she ends up liking. Once in his apartment, Selina discovers that it contains carpet, which is something she had never dreamed could be in a place where you live. Secondly, Gordon promises Selina freedom by telling her that it is possible for her go to school.She would go to a school especially for the blind. This would remove her from her set up home which is marred by go bad and abuse. Gordon will introduce Selina to Alice Bradden who is also blind, an d has a seeing-eye dog named Duke. Going to school would lease Selina to use her brain to her full potency and to learn everything that she wants to know, not just what the wireless tells her. The main advantage to Selinas newfound friendship with Gordon becomes her favorite word friend. Gordon gives Selina a couple of concrete gifts.One is a pair of sunglasses, to hide her face, which was disfigured by the acid. The other is a music box, which Selina does not need to see to be able to enjoy. Gordon Ralfe helps Selina build up her self toy with and confidence. He teaches her to like herself by add some self image. Selina falls in love with Gordon, and he grows to love her. perhaps the greatest gift of all except is that of tolerance, his favorite word. Gordon teaches Selina to love everything, no way out what colour, shape, or size it is.

'The Silence Game\r'

'3a) What is the benefit to the claw of the ‘ quiet adventure’? (500 words) Constant reverberate tush piddle irritability, frustration, confusion, and even sleepiness. Everyone needfully moments of peace to rest our bodies and to listen to our thoughts. Dr. Montessori says that a deeper level of sense and sensitivity to racquet can admirer is to enter into a â€Å" much refined and subtle homo”. Montessori therefore came up with the â€Å" privateness wager” or â€Å"The Exercise of tranquillise”. Dr. Montessori created the Silence spirited while working with children who were partly deaf. She observed that their hearing improved when they were fit to listen carefully for sounds. Standing at the back of the room with the children facing outside from her, Dr. Montessori quietly called out the name of each child. When the children heard her call their name, they would quietly straits to where she stood. Silence has last one of the go around known characteristics of the Montessori Method.\r\nIt has been adopted in any(prenominal)(prenominal) schools and has succeeded in bringing to them something of the Montessori spirit. (Montessori, 1988). After the Silence Game children become more obedient, sweet, and gentle. Dr Montessori similarly realized that after such an doing the soul of the child has its spiritual rewards. In the Montessori Classroom, the Silence Game is played to help children develop not only a higher level of self-discipline, save to acclimatise children to the world around them. Many adults and children recognize for granted the sounds around them.\r\nAnd in our stiff paced world, few of us stop to â€Å" sense the roses” let alone take the clip to quietly listen and reflect. The Silence Game takes practice. Young children and those who are not insofar normalized have relatively short caution spans and find it ever so trying to remain still and quiet for more than 20-30 seconds. With practice, attention spans lengthen and children learn to relax, absorb, and respect the world around them. During the Silence lesson, the children in the class can choose to get into in the making of the silence.\r\nIn coordinate to â€Å"make silence”, the child moldiness have self control, they moldiness(prenominal) become aware of everything in their bodies that can move, and they must(prenominal) want to cooperate with those who are static around them. But before the children can even play the game, the child must have developed good coordination of movement, they must have a strong leave behind, they must have a great awareness of themselves and of others, and they must have go through some silence before. When the children do create silence, they will not only have experienced a moment of peace and tranquility, but they will want to play it over and over again.\r\nThe Direct purpose of the Silence game is to build the child’s awareness and sensitivi ties to the ring around him and the noise he creates. The indirect aim is to create a sense of awareness of their bodies and mental synthesis up balance. Dr. Montessori believed that the silence game was the like a religious experience for children. It is grievous not to break off the game abruptly. The end result is a still and peaceful atmosphere. Everyone feels rested after the experience.\r\n'

'Jonson and Donne’s Influence on the Cavalier Poets: A Critical Analysis Essay\r'

'Poetry is never divorced from the contexts at heart which the poet himself is necessarily part of. This is to say that numbers is a product of the poets’ political, economic, historical, cultural and knowing contexts. much(prenominal) being the case, one whitethorn say that it is through the aforementioned contexts that verse captures the spirit of the durations. The first half of the seventeenth Century witnessed both the booming of the slope poetic tradition and science. Such lucky however, did not come easily for the tautness existing between different frameworks; metaphysical and scientific.\r\nSee lots: how to write a critical analysis outline\r\nThis endeavor seeks to explicate Ben Jonson and John Donne’s similarities and differences and how they mold the English poetic tradition as manifested in the works of their successors. Ben Jonson is considered as the earliest theoretician and practitioner of neoclassicism. Such an confinement is made poss ible by Jonson’s get down to fuse together absolute themes like civility and public worship within the realm of critical man diversity which heavily characterized post-Medieval thought.\r\nThis is to say that the value of Jonson’s work lies in its capacity to curb the traditions of the ago with the rapidly changing world and the differing worldviews that emerged in the success of the scientific enterprise. Jonson’s neoclassicism makes itself manifest in his pursuance of the innocent principle of the honest and didactic routine of poetry. In Jonson’s epigram c all tolded To My absolute English Censurer, he writes: â€Å"To thee my mien in epigrams seems new/ When both it is the old way and the new…/Prithee believe still, and not count on so fast;/Thy faith is all the knowledge that thou hast”.\r\nThe foregoing transportation system strengthens the claim that Jonson pursues the classical principle of the ethical and didactic functi on of poetry. Jonson’s idiom on civility and public holiness may be seen as an attempt on his part to save that which is cracking and valuable in itself in the past which, as he reckons, should be assimilated into the present. On the early(a) hand, John Donne seems to be more(prenominal) interested in the psyche quite an than the public. Metaphysical poetry, as it figures in Donne’s works are more ‘ psycheal, more private.\r\nAs one may make believe observed in the development of Donne’s poetry, he is more concerned with the individual and the philosophical questions which preoccupy the individual as he finds himself shattered, snap between the plain collapsing grasp of Medieval thought and the patently promising future of scientific thinking. Such philosophical questions may vary among individuals notwithstanding in the case of Donne, his concern seems to be the internal conflicts within an individual in his attempt to understand his relation t o other human beings and more importantly, his relation to the Divine.\r\nThat Donne is torn between Medieval thought and scientific thinking makes itself manifest when he writes in the Holy Sonnets (1-4): â€Å"Batter my heart, three person’d God; for, you/As in time but knocke, breathe, shine and seek to resort;/That I may rise, and stand, o’erthrow mee,’ and construction/Your force, to breake, blowe, burn and make me new. ” Although Jonson and Donne differs significantly on the focus of their poetry, which are, the public or the individual, knight or metaphysical, both poets’ style and vestigial theoretical commitments influenced the chevalier of poets; their successors.\r\nNaturally enough, much of the influences of the Cavalier poets are derived from the master himself, that is, Jonson quite a than Donne. In a real sense, the domineering poets’ lyricist orientation in hurt of their profundity is simpler than that of the Metaphys icals like Donne. Consider Robert Herrick’s To the Virgins, to Make Much of Time (1648). He writes: â€Å"Gather ye rosebuds while ye may, /Old time is still a-flying; /And this same flower that smiles today, /tomorrow will be dying. There is, however, a authoritative fusion of both traditions (that is, the Cavalier and the Metaphysical) in the poems of other Cavalier poets; exhibiting the characteristics of both.\r\nIn To Althea, From Prison, Richard Lovelace, a prominent chevalier poet writes: â€Å" pock walls do not a prison make, /Nor iron bars a chicken coop;…/If I have freedom in my love, and in my soul am free, /Angels unaccompanied that soar above/Enjoy such liberty. Although Lovelace’s opening lines talk some the usual object of affection of the cavalier poets, the quoted passage near the end of the poem (that is, ‘stone walls do not a prison make’) presents a kind of profundity which, for the most part, characterizes metaphysical po etry. In the final analysis, although there are certain differences in the poetry of Ben Jonson and John Donne as they represent two different poetic traditions, it is plausible to maintain that both poets, in their own right, opened new pathways for the flourishing of the English poetic tradition.\r\n'

'Bank of America Case Study Essay\r'

'Problem record\r\nCan swear of the States initiate, transmigrate or terminate disparate sponsorship opportunities. Which of the different sponsorships will study the biggest ability to sustain the desire’s condescension segments fulfil there business objectives, and which is could damage them.\r\n terra firma\r\n argot of the States was operating in 29 states, District of Colombia and 43 unconnected countries, serving individual customers, small to gist market businesses and large corporations. They provided a modify range of financial assistances, such as vernacularing, investing and asset management. All this by means of three business segments: planetary Consumer and downhearted Business positing, Global wealth and Global Corporate and Investment m integrityy boxing. The headquarters of jargon of the States is located in Charlotte, northward Carolina.\r\nOne of the fixs business strategies is to serve as a leading financial retainer and advisor acros s all study romps. Owners, leagues and franchises can turn to them with all banking needs. The bank spent more on sponsoring sports hence any other bank in the US based bank. Sports such as major and minor baseball, the PGA-tour, NASCAR and NFL. Bank of the States actually grew from many smaller banks, as regional banks where acquired the bank got sport relationships along with the smaller banks; which were kept to show their loyalty to serving its customers and communities.\r\nOfficial Bank of baseball game\r\nSince 1880 Baseball was generally learned a business office of America’s heritage and alike a part of Bank of America’s culture that sponsored their employee baseball teams. And in 2004 the bank became the first family eer to be designated the Official Bank of Baseball.\r\nSports donorship philosophical system and Selection Criteria\r\nIn 2006 Ray Bednar join the Bank of America as major(postnominal) VP and spheric sponsorships executive, he was t here to make out the strategy and activation deployment for the company’s expansive sport sponsorships portfolio. His largest responsibility lie with the application of more difficult and straightforward business criteria, beyond his employment to the handed-down marketing/promotional considerations and making sponsorships closings.\r\nBednar explained:\r\nWe argon a Bank. If we sponsor, we expect banking relationships. We ar concerned about getting banking business sooner of just generating stake awareness and brand association, or generating more retail traffic. Sponsorships for Bank of America is ultimately a banking business decision- a decision to help our retrace of business.\r\nNASCAR\r\nWith a broad reach as 1800 racing events and more than 110 tracks in 36 states it is ranked number one corporate fight and per-event attendance, and number twain in television viewership. Given Bank of America’s long involvement with NASCAR, they could continue to exp and their association with the sport and benefit and build excitement for fans across the coun resolve. But is this an appropriate and effective programme for targeting multiple customer segments.\r\nU.S surpassing commissioning\r\nThe banks involvement with the Olympic team gores moxie to 1921. But in 1992 a nonher bank, Bank America became the Official Bank Sponsor of the U.S Olympic team. What Bank of America today faced was whether the USOC and the Olympic Games remained a well(p) strategic fit with the bank? Should the bank renew its sponsorship beyond its 2008 commitment? Would world(a) reach associate well with the banks school of thought and selection criteria?\r\nDallas Cowboys\r\nBank of America had been pertain in the financing of the Dallas Cowboys. Bednar faced the decision of whether or not to renew the sponsorship with the NFL-team, how had to consider on how the return on enthronisation on objectives approaches could be applied.\r\nBank of America PGA tournam ents\r\nTwo of their major sponsorships in golf game were the Bank of America Championship in the Boston area and the Bank of America Colonial in Fort Worth, Texas. They recognise the risk of losing the relationships with club members, entirely not as enough to justify the continue investment. How could the implement this exit strategy and serene maintain existing banking relationships\r\nRecommendations\r\nThe name of the company clearly states who the costumers should be. My recommendations would be to focus on the sponsorships within the America. NASCAR, NFL and Baseball are expectant opportunities to create relationships with their costumers. They might even try to become the Official bank of NFL one day. With that said I cypher the bank should try and sponsor less of the global sporting events such as the Olympic committee. The PGA tour, while it is played in the US it is televised in the whole world and since they are not reaching towards that market, I think less sponsor ship should be put in this event as well. As for the boodle marathon they should sell the event but stay as sponsor.\r\nQuestion\r\nIf Bank of America would like to go global, would they have to change their name to something less flag-waving(prenominal)?\r\n'

'Social Responsibility Theory\r'

' affable indebtedness scheme To combat the pressures that threatened independence of the press, this system was first introduced in 1947 and was recommended by the Hutchins mission on license of the Press. It stated that the media should make away the domain, and in order to do so, should await free of political relation interference. It defined guidelines that the media should sweep up in order to fulfill its agreement of serving the grossplace. Ethics and the Media\r\nThe Social chasten Theory cl goed that the media could be self-regulating by adhering to the following precepts: • Media has obligations to fulfill to a representative friendship in order to impact freedom. • Media should be self-regulated. • Media should have high standards for professionalism and objectivity, as rise up as justice and accuracy. • Media should contemplate the diversity of the cultures they represent. • The humans has a warm to expect profession al perfor opusce. The proponents of this speculation had federal agencyful faith in the semipublic’s ability to determine right and wrong, and takings action to preserve the public dependable when demand. ) The kindly righteousness does non further fall upon the reporters and producers of media. The righteousness as well fall to the consumers to become media literate and maintain high, that reasonablenessable expectations of the media. In theory, if these things happen, there pass on be no need for political sympathies intervention. The Social Responsibility Theory was lap forth as the ideal representation for the media to conduct avocation.\r\nOver the years since its introduction, this theory has met with much criticism as well as support. It has become the standard for united States media practices. It has also set the standards for much of the soon accepted media ethics. [pic] [pic]Since the Hutchins way produced its famous theory, the unify Stat es has developed better educated journalists, regulaten a reduction in give-and-take grimness and enjoyed more accuracy in reporting. umpteen journalists argon now also advocates for the public and for favorable issues and reform, depictting heir messages out through the media. Read more at Suite101: What is the Social Responsibility Theory? : compose by the Hutchins Commission on Freedom of the Press http://press-freedom. suite101. com/article. cfm/what_is_the_social_ office_theory#ixzz0hYd9u8dH Social debt instrument Social debt instrument is an respectable or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society at large.\r\nThis responsibility potentiometer be â€Å"negative”, meaning there is prerogative from blame or liability, or it can be â€Å"positive,” meaning there is a responsibility to act beneficently (proactive stance). Businesses can routine ethical decision making to secure their demarcationes by making decisions that allow for government agencies to minimize their involvement with the corporation. (Kaliski, 2001) For instance if a company is proactive and follows the United States environmental Protection Agency? EPA) guidelines for emissions on monstrous pollutants and even goes an extra step to get involved in the community and deal out those concerns that the public might have; they would be less likely to have the EPA go over them for environmental concerns. â€Å"A significant portion of current thinking about privacy, however, stresses â€Å"self-regulation” kinda than market or government mechanisms for defend personal information” (Swire , 1997) Most rules and regulations ar formed due to public outcry, if there is not outcry there a lot allow be limited regulation.\r\nCritics suggest that Corporate social responsibility (CSR) distracts from the ingrained economic role of businesses; few others argu e that it is cypher more than superficial window-dressing; others argue that it is an taste to pre-empt the role of governments as a guard dog over powerful multinational corporations (Carpenter, Bauer, & Erdogan, 2009). socially responsible Corporate social responsibility (CSR), also known as unified responsibility, corporate citizenship, responsible business, sustainable responsible (SRB), or corporate social performance,[1] is a form of corporate self-regulation integrated into a business model.\r\nIdeally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure their adherence to law, ethical standards, and international norms. Business would embrace responsibility for the impact of their activities on the environment, consumers, employees, communities, stockholders and all other members of the public sphere For each business, unalike measures are taken in stipulation to classify a business as â€Å"socially respon sible”.\r\nEach business attempts to reach different goals. There are four areas that should be measured heedless of the outcome needed: Economic function, forest of life, Social investment and Problem solving. [citation needed] that is arduous to be achieved should be measured to view if it meets with the cost guidelines that the business is willing to contri bute. [edit] emerge Normative Status of Social Responsibility\r\nSocial responsibility as a non-binding, or soft law dominion has received some normative situation in relation to private and public corporations in the United Nations Educational, Social and ethnical Organization (UNESCO) Universal Declation on Bioethics and tender Rights developed by the UNESCO International Bioethics charge particularly in relation to youngster and maternal welfare. (Faunce and Nasu 2009) The International Organization for calibration (ISO) is developing an international standard to lead guidelines for adopting and disseminat ing social responsibility: ISO 26000 †Social Responsibility.\r\n collect for publication in 2010, this standard will â€Å"encourage voluntary commitment to social responsibility and will lead to common guidance on concepts, definitions and methods of evaluation. ” (ISO, 2009) The standard describes itself as a guide for dialogue and action, not a constraining or insane management standard. Social Responsibility |[pi| safe in the US in the twentieth century | |c] | |[pi|Purpose is to inform, entertain, sell, but also to raise conflict to the plane of reciprocation | |c] | | |[pi|Ownership is private | |c] | | The social responsibility theory is an outgrowth of the libertarian theory. However, social responsibility goes beyond â€Å"objective” reporting to â€Å" instructive” reporting.\r\nA truthful, complete account of the news is not necessarily enough today, notes the Commission on the Freedom of the Press: â€Å"It is no longer enough to report the accompaniment [pic]truthfully. It is now necessary to report the truth about the fact. ” Todays complex world a lot necessitates analysis, explanation, and interpretation. As the Commission stated in 1940: The emerging theory does not renounce the rationality of man, although it puts far less cartel in it than the libertarian theory, but it does seem to recant that man is innately motivated to depend for truth and to accept it as his guide.\r\n down the stairs the social responsibility theory, man is viewed not so much irrational as lethargic. He is capable of using his reason but he is loath to do so. If man is to remain free, he must(prenominal) live by reason alternatively of passively accepting what he sees, hears, and feels. Therefore, the more alert shares of the community must prod him into the exercise of his reason. Without such(prenominal) goading man is not likely to be go to seek truth. The languor which keeps him from using his endowment fund of reaso n extends to all public discussion.\r\nMans aim is not to find truth but to satisfy his immediate needs and desires. It is the press, therefore, that must be the â€Å"more alert element” and keep the public informed, for an informed earth is the cornerstone of democracy. Todays large media conglomerates, however, may not function naturally as a public forum, where all ideas are shared and available. â€Å"The owners and managers of the press determine which persons, which facts, which versions of these facts, shall reach the public,” writes the Commission. In this same light, Siebert, Peterson and Schramm warn: … he power and near monopoly position of the media impose on them an obligation to be socially responsible, to see that all sides are seemlyly presented and that the public has enough information to decide; and that if the media do not take on themselves such responsibility it may be necessary for some other agency of the public to enforce it. The Cano ns of Journalism, adopted by the American Society of Newspaper Editors addresses these same obligations when it calls on newspapers to practice responsibility to the general welfare, sincerity, truthfulness, impartiality, fair play, decency, and respect for the individuals privacy.\r\nSiebert, Peterson and Schramm also note that â€Å"freedom of expression under the social responsibility theory is not an absolute right, as under pure libertarian theory…. Ones right to free expression must be balanced against the private rights of others and against vital social interests. ” For example, it likely would not be socially responsible to report how the terrorist, using some new method, evaded security measures and smuggled a bomb onto a commercial airline.\r\n'

'Cause and Effect of Advertising on Blood Donation Essay\r'

'Over the last 30 years, thither defend been many running plays in order to promote profligate donation. The solve and focusing of these advertisements has been to promote unpaid volunteers to present rootage. This line of descent is di blaspheme needed to keep filiation banks full in order to armed service soulfulnesss who need agate line transfusions around the bena. Overall, rakehell donation publicizing has been highly palmy in producing the desired effect.\r\nIn the past, in that location was a shortage of younger individuals who were donating credit line. Thus, lineage donation organizations launched hip and young focused labors in order to make headway these individuals to present. The campaign focused on television, radio and cyberspace de none in order to range y turn uphs. Social line of work.org has connected with Facebook to encourage blood donation. Socialblood, which mint be seen below, allows you to join groups based upon your blood type. The effect of these efforts has resulted in more youth donating blood and then passing the intelligence operation a commodious. By word of mouth, the youth of the world argon distributeing their own denote campaign to keep efforts alive. Also, there have been jobs created for individuals to be liaisons to high school and college students. These individuals organize and conduct blood drives in high schools, colleges, and plane social organizations such as sororities, fraternities, and clubs. This has been bills well spent and has resulted in little paid donations.\r\n occupation donation advertising increase due to the need for not just blood, but the need for cleanse blood. During the 1970s, much of the blood in blood banks came from paid donors. Since the screening process to donate at the time was minimal to non-existent, there was a large risk that blood donors could carry complaints. Many individuals, including drug users and bay window who did not practice safe sex, do nated blood in order to make otiose money. In fact, some of these diseases carried by donors were not plane discovered or named until afterward on. Paid donors had tainted the blood furnish with diseases such as HIV, Syphilis, Hepatitis B, and Hepatitis C. It was not until the after-hours 1980s that a more commodious method of testing was developed. Now the physique of blood donations not tested is extremely slim. Also, many countries have made it outlaw(prenominal) to pay donors to donate their blood and rely solely on volunteers to provide blood banks with their supply.\r\nClean blood donations have drastically squeeze people and the economy. By ensuring that blood supply is not tainted, people are receiving much safer blood and are preserveed less by vitality expectant diseases. This similarly positively impacts the economy by a reduction in lawsuits and settlements. It also keeps insurance costs for diseases contracted by means of and through blood transfusions.\r\ n extraction donation advertising has increased the number of individuals turning out to donate blood at consistently and during times of need. These individuals are donating their blood in order to function individuals in crisis. Often, advertising is not even needed to encourage individuals to turn out when there is a natural disaster such as a hurri brush asidee, flood, or tornado. There was a major outpouring during the time pursuit Hurri tricke Katrina and during last year’s tornados in Alabama and Tennessee.\r\nOne of the greatest effects of blood donation advertising and increased donation is the screening of blood for diseases. Individuals are screened for specific illnesses prior to donation, such as anemia. This can result in an individual finding out about a particular illness that may have gone undetected until much later. This can save individuals and insurance companies a lot of money. Thus, it would have a less proscribe impact on the economy.\r\nOther dise ases are screened for after donation. Depending on the organization, individuals will promising be informed if they have a life threatening blood borne disease. This can impact an individual greatly through early intervention or by informing them about a disease that could be impacting them with little to no association of its existence. In fact, hepatitis has may not showing any symptoms for decades. By that time intimately of the damage has already been done. It would most likely present itself as cirrhosis or even liver cancer. The treatment for both(prenominal) can be very costly, such as liver transplant, or even futile.\r\nThe reasons for blood donation advertisement focus on raising awareness to various individuals to volunteer their time and blood to help fill local blood banks to capacity. However, the impact and effect of donating is much more long lasting. By donating blood, an individual may not be just giving life to someone else, but life to themselves or even t o the economy.\r\nReferences\r\nBlood Centers of the Pacific | Media live | PR memorial 2004 | Press bring out Archive 2004. (n.d.). Blood Centers of the Pacific | bob up the hero in you. Retrieved knock against 4, 2012, from http://www.bloodcenters.org/media-room/pr-archive-2004/first-national-blood-donation-campaign-launched/ San Jose Blood Bank: Blood Donation | Ads of the globeâ„¢. (n.d.). Ads of the Worldâ„¢ | Creative Advertising Archive & Community. Retrieved March 4, 2012, from http://adsoftheworld.com/media/dm/san_jose_blood_bank_blood_donation? coat=_original Socialblood leverages Facebook to help you find blood donors †Apps. (n.d.). The beside Web †International technology news, descent & culture. Retrieved March 4, 2012, from http://thenextweb.com/apps/2011/11/04/indian-startup-socialblood-leverages-facebook-to-help-you-find-blood-donors/ WHO Blood Safety and Availability. (n.d.). World Health Organization. Retrieved Marc h 4, 2012, from www.who.int/mediacentre/factsheets/fs279/en/\r\n'

'Indian Legal History: Sultanate Period Essay\r'

'The Delhi grand Turkate is a marge used to coer volt short-lived dynasties, Delhi based kingdoms or sultanates, mostly of Turkic and Pashtun (Afghan) origin in medieval India. The sultanates rule from Delhi between 1206 and 1526, when the last was replaced by the Mughal Dynasty. The 5 dynasties were the Mamluk dynasty (1206â€90); the Khilji dynasty (1290â€1320); the Tughlaq dynasty (1320â€1414); the Sayyid dynasty (1414â€51); and the Afghan Lodi dynasty (1451â€1526).\r\n(i) Administrative Units: The civil judicature of the sultanate was headed by the Sultan and his captain take c ar (Wazir; উà¦Å"ির). The sultanate was separate into administrative divisions from the duty (Subah) to the resolution level. The province was the composition of soils (Sarkars). Each district was further divided into parganas. A sort out of villages effected a pargana.\r\n(ii) Constitution of judicial schemes: The medieval India the Sultan, being head of the State. was the supreme empowerment to administer justice in his kingdom. It was cardinal of the important functions of the Sultan. It was done in trine stages: Diwan-e-Qaza (arbitrator বিচারà¦), Diwan-e-Mazalim (Head of bureaucracy প্রধান প্রশাসনিঠà¦à¦°à§à¦®à¦à¦°à§à¦¤à¦¾), Diwan-e-Siyasat (Commander-in- honcho of forces সেনাপতি). The motor hotels were required to seek his former approval before awarding the corking punishment (ফাঁসি দেà¦à§Ÿà¦¾à¦° আà¦à§‡ à¦à§‹à¦°à§à¦Ÿà¦à§‡ সুলতানের à¦à¦¨à§à¦®à¦¤à¦¿ নিতে হইতো)\r\nThe judicial system to a lower place the Sultan was organized based on administrative divisions of the kingdom. It was classi fied in a systematic divisions of begs and the powers and jurisdiction of separately court was clearly defined.\r\n1. Central Capital:\r\n sextet coquets which were established at the capital of the Sultanate are follow:\r\na. The King’s salute\r\nb. Diwan-e-Mazalim\r\nc. Diwan-e-Risalat\r\nd. Sadre Johan’s Court\r\ne. headsman umpire’s Court\r\nf. Diwan-e-Siyasat\r\nThe King’s Court was presided over by the Sultan. It has some(prenominal) passkey and appellate jurisdiction on all told kinds of cases. It was the highest court of pull in. The Sultan was back up by cardinal Muftis (highly qualified in virtue).\r\nDiwan-e-mazalim: The court of Diwan-e-Mazalim was the highest court of poisonous appeal and the Court of Diwan-e-Risalat was the highest court of civil appeal. The Chief referee was the second highest officer coterminous to the Sultan.\r\nThe court of Ecclesiastical cases (ধর্ম সংà¦à§à¦°à¦¾ ন্ত à¦à§‡à¦¸)was transferred to the Sadre Johan. The court of Diwan-e-Siyasat was constituted to deal with the case of rebels (বিদ্রোহীদের à¦à§‡à¦¸ নিয়ে). The Chief judge’s Court was established in 1206. It was presided over by the Chief Justice and dealt with all kinds of cases.\r\n(b) Provinces: In each province(Subah; সুবাহ)had five courts namely, Adalat Nazim Subah, Adalat Qazi-e-Subah, Governor’s Bench (Nazim Subah’s Bench), Diwan-e-Subah and Sadre-e-Subah.\r\nAdalat Nazim Subah was the Governor’s (Subedar; সুবাদার) Court. In the provinces the Sultan was represented by him. He exercised original and appellate jurisdiction like the Sultan..\r\n period exercising his appellate jurisdiction, the Governor(সুবাদার) sat with the Qazi-e-Subah. From the close of this bench, a final appeal was allowed to be filed in Central Court of Delhi.\r\nAdalat Qazi-e-Subah was presided over by the Chief Provincial Qazi. He was empowered to try civil and barbarous cases. Appeals form this court made to the Adalat Nazim-e-Subah.\r\nThe Court of Diwan-e-Subah was the final authority in the province in all cases concerning land revenue.\r\nThe Sadre-e-Subah was the Chief Ecclesiastical Officer in the province. He represented Sadre Johan, in Subah matters relating to grant of stipend, lands etc.\r\n(c) regularises: In each district (Sarkar) at he district headquarter, six courts neutralize established namely: Qazi, Dadbaks or Mir Adls, Faujdars, Sadre, Amils and Kotwals. The Court of the District was empowered to hear all original civil and sorry cases. Appeals were in addition filed before this court from the judgements of the Pargana Qazis, Kotwals and village pachayats. The court was presided over by the District Qazi who prescribed on th e recommendation of the Qazi-e-Subah or at one time by Sadre Johan.\r\n(d) Parganas: At each pargana headquarter two courts were established, namely, Qazi-e-Pargana and Kotwal. The court of Qazi-e-Pargana had all the powers of a District Qazi in all civil and criminal cases except hearing appeals. Petty criminal cases were filed before the Kotwal. He was the Principal decision maker Officer in towns.\r\n(e) Villages: A pargana was divided into a sort out of villages. For each group of villages there was a village lying or panchayet. It’s a consistency of five leading men to olfactory sensation after the executive and judicial affairs. The Sarpanch or Chairman was appointed by the Nazim or the Faujder. The Panchayets decided civil and criminal cases of a purely local character.\r\n(iii) Judicial Reforms of Sher Shah: In 1540 Sher Shah laid the foundations of Sur Dynasty in India after defeating the Mughal Emperor Humayun, son of Babar. Sher Shah ruled exactly for five y ears. he introduced various funny reforms in the administrative and judicial system fo his kingdom. His important judicial reforms as follows:-\r\n1. . Sher Shah introduced the system of having the pargans, separate courts of scratch line voice for civil and criminal cases. At each pargana, he stationed a Civil decide called Munsif.\r\n2. When a Munsif was appointed, his duties were specifically enumerated.\r\n3. The duties of Governors and their deputies regarding the preservation of law and order were emphasised.\r\n4. Moqoddomas or heads of the village Councils squander recognized amd were ordered to prevent stealth and robberies. In cases of robberies, they were made up to reach for the loss sustained by the victim. design of law regulations were now drawn up for the first time in India.\r\n5. The judicial officers below the Chief Provincial Qazi were transferred after all(prenominal) two or three years. The practice continued in British India.\r\n6. The Chief Qazi of the province or the Qazi-ul-Quzat was the some cases true to report directly to the Emperor on the conduct of the Governor.\r\n'

'Physical and Mental Effect of Teenage Pregnancy Essay\r'

'One of the virtually traumatic and devastating effect of teenage motherhood is reservation it tricky for the girl to continue her education. And this is verily alarm especi severally(prenominal)y here in the Philippines. It is a major contributor to poverty, single p arnthood, and limited futures for teenageds and their children that is why it is so significant to attend to the problem today and not later. We must help young parents rise in a luxuriouslyer place what the statistics forecast. We can no longer look the different way when it comes to the issues our youth face today whether it is drugs or alcohol abuse, crime, sexual orientation, sexually transmitted infections or motherliness.\r\nOur community must work together to empower, coach and encourage these individuals. We can address these issues by oblation workshops on life skills such as budgeting, parenting, and m onetary planning. Young parents need access to resources in cost of rehabilitation, communi cation, parenting classes, relationship counseling and training. Successful intervention methods must be established to resolve teenage pregnancy issues and teenage mother’s predicaments The sexual alteration has ushered in a period in which the fair adolescent experiences tremendous pressures to collapse sexual experiences of all kinds.\r\nFilipino teens get a higher delineation to sex from the Internet, magazines, TV shows, movies and other media than decades ago, yet without both corresponding increase in information on how to handle the input. So kids are pretty often left to other kids for opinions and value formation when it comes to sex. informal misinformation is thitherfore equally shared in the group. Parents at home and teachers in school feel equally inadequate or uneasy to discuss the exit of sex with youngsters.\r\nThe problem mounts be buzz off theirpeers has a more incomprehensible influence than parents do and they exert pressure and rest the adole scent to conform to the rest of them. Teen pregnancy has become known to be one of the most serious social problems in thewhole world. The youths today is at high risk of becoming an early and fleeceable parent who areexpose to a malevolent behaviors. This issue is a severe family stressor that may quickly lead toa family crisis. The primary(prenominal) objective of this research is to consider the physical and psychic health ofapregnantteenager.\r\nAs well as the cause and effect of pregnancy to the teenager and their social interaction. The means of a mother is a deep abysm at the bottom of which you will always make for presumptuousnessess”. puerile pregnancy in the Philippines Teenage pregnancy in the Philippines is increasingly becoming a major cause of concern. There is a cost increase trend of young women becoming mothers and majority of whom are unmarried. Young pregnant women are more defenceless to death during pregnancy while childbirth and Brobdingnagian n umber are not physically and emotionally prepared for motherhood.\r\nThis is a direct reflection that there is inadequate and inaccurate information on adolescent pregnancy and not enough priority is given to maternal and child health care. If pregnancy occurs, teenagers and their families deserve honest and sensitive counseling just about options on hand(predicate) to them, from abortion to adoption. Special support systems, including consultation with a child and adolescent psychiatrist when needed, should be easy to help the teenager throughout the pregnancy, the birth, and the decision about whether to keep the infant or give it up for adoption.\r\nThe ability to talk openly about problems is one of the most significant aspects of the parent and child relationship. development this relationship and open communication takes succession, persistence, and understanding. The relationship develops stepwise by spending time with the child. Meal times, storytelling, reading, pla yacting games, outings, vacations, and celebrations are important opportunities for parents to spend time with their child. Parents should excessively try to spend some individual time with each child, particularly when lecture about difficult or upsetting things.\r\nThis relationship creates the foundation for talking with the child when struggles and conflicts emerge during adolescence. Whatever feelings you’re experiencing, this is likely to be a difficult time for your family. The important thing to realize is that your teen needs you now more than ever. Being able to communicate with each other †especially when emotions are running high †is essential. Teens that are carrying a baby to term start out special health concerns, and your child will have a healthier pregnancy †emotionally and physically †if she knows she doesn’t have to go it alone.\r\n'

'Cadet Entrance Response Essay\r'

' save your own response. What are the most important qualities in becoming a no-hit USMA plebe and a successful troops officer?\r\nResilience, dedication and leaders are qualities befitting for a successful USMA plebe and a successful Army officer. Resilience is non only an necessity feature for becoming a successful cadet or officer, it is also essential for your life. Resilience is the ability to resurrect one’s self from hard times, to never damp up, and displays ones psychic strength. In the academy I’ve heard that on a cadet’s first class they nethergo times of overwhelming stress in tests of emotional stability, perseverance, and ability to organize and perform under stress. With resilience and resolve a cadet allow for be able to overcome these stressful obstacles. Likewise, tick off is another quality in becoming a successful USMA cadet and a successful Army officer. At times resilience may escort dedication because when one dedicates their se lf to something, one necessitate the resolve to continue on with it and never give up.\r\nDedication shows ones loyalty, commitment, and devotion, in which is an important trait when pass one’s service to their country. To finish, a successful USMA cadet and Army officer should have the quality of leadership. As a leader one must offer guidance and work together as a team to get things done efficiently. leadership brings out control and order in a group. Showing resilience and dedication as a leader conveys a sense of trustworthiness and cooperation among their followers. both person with a position of leadership necessarily to set a positive example in order to make their self charismatic and a successful leader. Having these qualities will show the mental strength, devotion, and attention skills it takes in becoming a successful USMA cadet and Army officer.\r\n'

'Alan Greenspan’s misunderstand of the causes of the consequences and causes\r'

'Todays policymakers moldiness see past Alan Greenspans misunderstand of the causes of the consequences and causes of the extraordinary self-aggrandizing of the U. S. ‘s account deficit. According to Greenspan, high pass judgment of saving abroad led to increased role in the U. S. An alternative view to the cause of the ontogeny in the deficit is that increased globilization made commerce between richer countries and poor countries possible. Rich countries began to buy cheaper goods in poor countries, and poor countries continued to buy their accept domestic goods because they were cheaper than those abroad.As a result, the U. S. deficit, which was eternal restd in 1991, roseate to $850 billion in 2006. With the increased calling make of globilization taking place, the central banks of countries which had a surplus cloged their currencies from appreciating by printing their own currencies and buying thousands of billions of dollars to sustain their combative advanta ge. Greenspan argues that no real harm believe that no real harm has been done by these trade imbalances, and that rising debt and progress go hand-in-hand. It seems more probably that the rise of the U. S.Deficit and the paper money creation tolerate generated an economic bubble a eke out the world that is goal to imploding. In order to stave off a complete systemic meltdown, the central banks of Europe, the U. S. , and the U. K. have injected billions into the doctrine markets. The Federal Reserve has been prompted to issue a round of aggressive rate cuts. U. S. lenders have expanded their balance sheets at an unprecedented pace, and the U. S. government is currently kick through a $150 billion tinge stimulus package in an effort to prevent a world recession. Overall, it seems that Greenspan has confused cause with effect.\r\n'

'Capital Structure Question Solution\r'

'FINE 3100 Problems for Midterm †Additional swell Structure Problems Question 1 Belgarion Enterprises Asset important, the endangerment of the upstanding, can be found as the leaden average of the betas of its debt and right, where the weights argon fraction of the blind drunk financed by debt and comeliness: ? A = D/V ? D + E/V ? E = . 5 ? 0 + . 5 ? 1. 4 = . 7 To take on the beta of the degraded with no debt, find ? o or ? u using the formula for levered comeliness: ? E,L = ? o + [? o †? D] D/E ( 1 †TC) rearrange to find ? o = ? E,L + ? D D/E ( 1 †TC) 1 + D/E ( 1 †TC) Since the debt beta is zero, the equation simplifies to: ?o = ?\r\nE,L = 1. 4 / ( 1 + (. 5/. 5) ? (1 †. 4) ) = . 875 1 + D/E ( 1 †TC) The asset beta is higher if the slopped has NO DEBT, in the differentwise meliorate pecuniary markets world. The substantial with debt has an asset that the stanch no debt does non: the aro r f either let onine impose harbour. The fortune of the assess protect is cast down than the riskiness of the tighten’s operating assets (its line of affair risk). In fact, in this case, the bear on tax shield is riskless because the debt is riskless. The beta of the levered satisfying’s assets is let down than beta of the unlevered firm’s assets. Remember, bankruptcy is complimentary in this problem. If bankruptcy is not courtless, the result whitethorn not hold †by increasing leverage, the fortune of bankruptcy goes up and therefore the expected play up of bankruptcy outgrowth. In this case, the firm’s riskiness may well gain with leverage). Question 2 Little Industries a) Current market honours EL = 300,000 ? $3 = $900,000 treasure per bond: (. 05 ? 1000)/. 1 = 50/. 1 = $500 Total bonds: D= (. 05? 100,000)/. 1 = $50,000 VL = D + EL = 50,000 + 900,000 = $950,000 b) Current required pass judgment of shine Debt: rD = 10 % (given) Equity: rE,L = (EBIT †I) ? (1 â € TC) = (270,000 †5,000) ? (1 †. 4) = . 1766666 = 17. % EL 900,000 WACC = (D/VL) ? rD ? (1-TC) + (EL/VL) ? rE. L = (50,000/950,000) ? .1 ? (1-. 4) + 900,000/950,000 ? .177 = . 1708 c) For case of perpetual debt: VL = Vu + Tc D therefrom: Vu = VL †Tc D = 950,000 †. 4 ? 50,000 = 950,000 †20,000 = 930,000 NOTE: other way to solve for the unlevered firm take account is to freshman calculate the unlevered cost of candor and then use it to discount the unlevered firm’s specie flows 1. Unlevered cost of lawfulness Re band: rE. L = r0 + (r0 †rD) D/E (1 †Tc) set up the formula for r0: 0 = [rE,L + rD D/E (1 †Tc) ]/ [1 + D/E (1 †Tc)] = (. 177 + . 1? 50,000/900,000 ?. 6)/(1+50,000/900,000?. 6) = . 1741935 VU = EU = EBIT ? (1- TC)/r0  = 270,000 ? .6/. 1741935 = 930,000 d) (i) laterwards restructuring, the firm allow be 30% debt financed. allow D* be the total debt after refinancing and VL* be the total firm prize after refinan cing. It mustiness be accredited that: D* = . 3 ? VL* Since VL = Vu + Tc D, then VL* = Vu + Tc D* Substituting for D* VL* = Vu + Tc . 3 ? VL* Solve for VL* (1 †. 3? TC) VL* = Vu VL* = Vu/ (1 †. 3? TC) = 930,000/ ( 1 †. 3 ?. 4) = 1,056,818. 2 And D* = . 3 ? VL* = . 3 ? 1,056,818. 2 = 317,045. 5 EL* = . ? VL* = . 7 ? 1,056,818. 2 = 739,772. 7 (ii) By issuing invigo pastured debt and retiring equivalent assess of rightfulness, total firm cherish increases VOLD = 950,000 VNEW = 1,056,818. 2 Increase in firm range = 1,056,818. 2 †950,000 = 106,818. 2 Since the required ramble of renovation to debt is un diverged, we can exact that all of the realize of the restructuring is captured by the circumstancesholders. On the promulgation of the proposed restructuring, the total re appraise of legality entrust increase by the increase in firm value: measure out of living law on the announcement = 900,000 + 106,818. 2 = 1,006,818. 2 revolution ary contri thation price = 1,006,818. 2/300,000 = $3. 356\r\nTo find out the number of appropriates repurchased, first skeletal system out the dollar value of the forward-lookingfangled debt issued: freshly debt issued = New total debt †previous total debt = 317,045. 5 †50,000 = 267,045 packets worthy $267,045 be repurchased, at $3. 356 per share Total shares repurchased = $267,045/$3. 356 per share = 79,572 shares Share remaining = 300,000 †79,572 = 220,427 (iii) New required return to right Method 1: rE. L = r0 + (r0 †rD) D/E (1 †Tc) = . 17419 + (. 17419 †. 1) ? (317,045. 5/739,772. 7) ? .6 = . 193 Method 2: fill on total debt, I = . 1 ? 317,045. 5 = 31,704. 5 rE,L = (EBIT †I) ? (1 †TC) = (270,000 †31,704. 5) ? 1 †. 4) = . 193 EL 739,772. 7 New WACC = . 3 ? .1 ?. 6 + . 7?. 193 = . 1531 e) (i) Because the model claims bankruptcy costs are zero, it does not consider the probable downside of increasing leverage. With b ankruptcy costs, the expected costs of bankruptcy increase with leverage, offsetting the social welfare of reduced taxes. (ii) condition D* = 317,045. 5 and Interest = 31,704. 5 EL = (EBIT †I) ? (1 †TC) = (270,000 †31,704. 5) ? (1 †. 4) = 571,909. 1 EL . 25 Total firm value: V = D* + EL = 317,045. + 571,909. 1 = 888,955 Now, taking into account the impact of the bankruptcy costs, on the announcement of the increased leverage, the firm value FALLS: throw in firm value = 950,000 †888,955 = -61,045 New equity value on the announcement = 900,000 †61,045 = 838,955 New share price on the announcement = 838,955/300,000 = $2. 80 Share price falls from $3 to $2. 80!!! Therefore, the restructuring is a bad idea if the new required rate of return to equity rises to 25%. Question 3 Mighty Machinery Initial situation: market value of debt = . 08? 50m/. 08 = 50 m market value of equity = 8 m ? 20/sh = clx m market value of firm = 210\r\nAfter Restructuring: poss ibility on that all change in value is borne by the shareholders. So the loss of the tax shield will impact shareholders and. Value of lost tax shield = Tax rate ? change in debt = . 35 (-10m) = †3. 5m New firm value = old value + value of tax shield = 210 †3. 5 = 206. 5 m New debt value = old debt + change in debt = 50m †10 m = 40m New equity value (at the actual restructuring date) = new firm value †new debt value = 206. 5 †40 = 166. 5 m New share price: Given that shareholders bear all of the impact of the reduced tax shield, given efficient financial markets, the value of the equity will fall by 3. m ON THE ANNOUNCEMENT of the plan. Thus, at the announcement, total equity is worth 160 †3. 5 = 156. 5m or $19. 5625 per share ($156. 5m/8m = 19. 5625). another(prenominal) way: the NPV of the restructuring is -3. 5m, which is all borne by shareholders. The change in share price will be -3. 5m/8m = -$0. 4375, enceinte a new share price of $20 †. 43 75 or $19. 5625. ii) Shares issued = $10m/$19. 5625 or 511,182 Check: final share value/new number of shares = 166. 5/8. 511182 = $19. 5625. (iii) accustom the formula: rE = r0 + (r0 †rD) D/E (1 †Tc) set up the formula for r0: r0 = [rE + rD D/E (1 †Tc) ]/ [1 + D/E (1 †Tc)] = [. 5 + . 08 ? 50/160 ? (1-. 35)]/[1+50/160 ? (1-. 35)] = . 138181818…. Then New rE = r0 + (r0 †rD) (new D/new E) (1 †Tc) = . 138 + (. 138-. 08) (40/166. 5) (1-. 35) = . 1429 The restructuring causes rE to fall, as expected. The leverage is lower, the risk of equity is lower, shareholders’ required rate of return falls. b) You answer this interrogative sentence! Question 4 NOTE: This was a oddly tricky top dog. Part marks were given for aggrieve answers. Assume that it is valid to use the CAPM…this is ok, given the perfect financial markets assumption. Need to imbibe all of the components of WACC: rD = actual yield-to-maturity, 9%\r\nMarket value of D = (. 08 ? 2. 5m )/. 09 = 2. 22222m TC = 35% What roughly value of equity and cost of equity???? Use a competitor to figure out…the closest keep company to GLC is whole Lawn Chemicals. The just around complete way to go is to figure out the unlevered cost of equity of All Lawn (reflecting the business risk), and value GLC at this rate. This will give us the unlevered value of GLC. following(a), use GLC’s latest bully twist to get GLC’s levered value of the firm and its equity. Next calculate the cost of equity, given GLC’s current seat of government structure…. 1. bring forth unlevered cost of capital for All Lawn\r\nUse the like rearrangement of the cost of equity formula in motility 6: rE = r0 + (r0 †rD) D/E (1 †Tc) Rearrange the formula for r0: r0 = [rE + rD D/E (1 †Tc) ]/ [1 + D/E (1 †Tc)] Use CAPM to find current rE of All Lawn: rE = rf + ? ? MRP = . 075 + 1. 2 ? .07 = . 159 r0 = [. 159 + . 09 ?. 3? (1-. 35)] / [1+. 3? (1-. 35)] = . 14774 Value of firm for GLC : V L = OCF ? (1 †tc) + tcD RU V = 1. 5M * (0. 65) + 2. 222M*(0. 35) .1477 VL = 7. 37892M Value of Equity for GLC: VL = Ve + VD = 7. 37892M = 2. 222M + Ve Ve = 7. 37892 †2. 222 = 5. 1569M Ve = 5. 1569M = y R equity = (OCF †Interest expense)(1 †tax rate)/ Value of equity = { ($1. billion †. 08x$2. 5 million) . 65}/5. 1569= . 163858 =16. 39%. OR 1. Find unlevered cost of capital for All Lawn Use the same rearrangement of the cost of equity formula in question 6: rE = r0 + (r0 †rD) D/E (1 †Tc) Rearrange the formula for r0: r0 = [rE + rD D/E (1 †Tc) ]/ [1 + D/E (1 †Tc)] Use CAPM to find current rE of All Lawn: rE = rf + ? ? MRP = . 075 + 1. 2 ? .07 = . 159 r0 = [. 159 + . 09 ?. 3? (1-. 35)] / [1+. 3? (1-. 35)] = . 14774 2. Value of Unlevered GLC Vu = [OCF †Taxes] / r0 = [1. 5 ? (1-. 35)] /. 14774 =6. 59943 3. Value GLC with its current capital structure VL = Vu + Tc D = 6. 59943 + . 35 ? . 2 2222 = 7. 37721 4. Value GLC’s equity and its required rate of return Thus: EL = VL †D = 7. 37721 †2. 22222 = 5. 15499 and rE = r0 + (r0 †rD) D/E (1 †Tc) = . 14774 + (. 14774 †. 09)? (2. 22222/5. 15499)?. 65 = . 1639 5. Calculate GLC’s WACC Wacc = (2. 22222/7. 37721)?. 09?. 65 + (5. 15499/7. 37721)?. 1639 = . 1322 Question 5 a) False. Although often increases in firm value increase equity value, it is not perpetually the case. When debt is risky (that is, there is a possibility that the debt will not be paying(a) the full promised engage and nous), improvements in firm value may go partly or totally to debt holders.\r\nThis means that the debt has sour less risky: there is less chance that the bondholders won’t get the promised take and principal re presentments. An example: when a firm is in financial detriment, a value-increasing investiture may only increase the value of the debt †and none of the value goes to shareholde rs. See rig and as well the Barclay, Smith, Watts article. b) False. All that is necessary for the risk of equity to increase is that the firm’s operating silver flow be variable.\r\nWhenever you add the fixed interest payments, the result is to intensify the vari readiness of the bullion in flows to shareholders (they get paid only after the fixed payments feed been made to the debtholders). Look at the kit, †risk of equity increased with the addition of debt †and there is no chance of bankruptcy in this example (debt is riskless †no matter what state of the world occurs, the debtholders get their promised payments). c) False. For this answer, assume perfect financial markets and keep the firm’s investment and borrowing constant. If you don’t make these assumptions, then we imbibe to make other assumptions about the state of the financial markets. These ones make our story easy). It is true that a shareholder may have to cope shares at th e tramp of the market to create homespun dividends. But if the firm increases its dividend, they too will have to fail shares at the bottom of the market!! If we assume that the firm is currently paying out the currency they have, the rest is tied up in investment plans and no new borrowing is made, if the dividend is increased, THE FIRM lead HAVE TO GO TO THE MARKET AND SELL SHARES to pay for the higher dividend.\r\nThe risk of selling shares at the bottom of the market has not gone away and shareholders unruffled get stuck with it †either they pay for it directly when they sell their shares or indirectly when the firm brings in new shareholders who pay less for their shares than if it had been the top of the market. So this is not a valid reason why the firm paying a dividend will increase firm value. d) Uncertain. What the answer depends on is whether the bond holders lookd the right way the chances and costs of distress/bankruptcy.\r\nIf bondholders correctly antic ipate distress and the costs associated with it, they will pay less for the bonds than if the costly distress did not occur. Shareholders end up paying the costs †because the company gets less for the bonds sold †heave the cost of debt financing. Of course, if bondholders do not correctly anticipate the distress, then they share in the costs. e) THIS IS A send out MIDTERM QUESTION authentic. Cost savings are much more likely to be realizable than revenue increases †firms have control over their ware process but not over their customers. f) False. This question is very much related to a).\r\nShareholders will not be willing to contribute more gold to positive NPV projects when the bulk of the benefit goes to bondholders. See the references in a). g) True. The messy formula for the impact on firm value of adding debt when both personal and corporate taxes are considered is outlined in the kit. This happens when (1-TB) < (1-Tc)(1-TS)….. Translating: 1-TB is the after-all-taxes cash flow of a $1 of bond income, (1-Tc)(1-TS) is the after-all-taxes cash flow of $1 of equity income (because first corporate taxes are paid and then personal taxes on equity income are paid).\r\nIf investors get less in their pocket, after all taxes, when $1 of bond income is paid then after a $1 of equity income, they won’t want the firm to borrow †pay only dividend income and less total taxes (corporate plus personal) are paid. inviolable value will be lower if the company borrows!!! h) True. This follows from the â€Å"free cash flow problem” discussed in Barclay, Smith and Watts. A company with lots of cash but few investment opportunities (low growth) puts management into lure: spend the money on projects they like but aren’t necessarily positive NPV.\r\nFor such a firm, a high dividend payout (high dividends/net income) and high interest and principal obligations keeps the cash out of the hands of theatre director and give s them fewer opportunities to make negative NPV investments, increasing the value of the firm. i) True. Given these assumptions, adding debt creates a new asset: a tax shield. The tax shield is a â€Å" demonstrate” from the government, increasing the firm’s after-tax cash flows. This tax shield is lower risk than the assets of the business †it depends on the riskiness of the firm’s debt (and we assume that the tax rate doesn’t change).\r\nThus total risk of the levered firm is lower than if it is unlevered (the levered firm has the same business risk plus the lower risk tax shield †the overall risk is lower). j) THIS IS A institutionalize MIDTERM QUESTIONS False. All valuation methods requiring assumptions to be made. internet capitalization is a simpler valuation method than discounted cash flow†but it is loaded with strong assumptions about the future cash flows/earnings such as constant growth, constant dividend payout and unchanging capital structure. ) True the firm will have received the cash without having to issue new shares, however, the firm will also have missed out on ski tow equity when these warrants are not exercised and the warrant holders (and other potential investors) are disappointed and may not invest in this firm in concomitant rounds of equity financing if they were not able to benefit from their warrant purchase. Warrants are not like call options. With call options the firm in not affect in the transaction. With warrants the firm’s reputation and ability to raise financing is affected.\r\n'

'‘Management At Work Essay\r'

'1. According to a major economics consulting firm, parliamentary procedure’s â€Å" atomic number 16 American operations ar the jewel in the Italian company’s global operations.”* gild has proposets in Brazil and Argentina, and Brazil is its biggest grocery, intimately frontward of its home-country market. In 2011, with the Chrysler venture taking up more(prenominal) and more of the firm’s attentionâ€and as European sales suffered a steep declivity rumors began to circulate that Marchionne might move gild headquarter from Italy to the United States. Discuss purchase order’s coup of Chrysler as part of a strategy to vary itself from an international business into a multinational or global business.\r\n2. What benefts does Fiat hope to gain from its arrange- ment with Chrysler?\r\nWhat authorization drawbacks does it face? Judging from your analysis of benefts and draw- backs, explain wherefore the Fiatâ€Chrysler arrangement mi ght best characterized as a strategic entirelyiance? In what maven is it best characterized as a direct coronation?\r\n3. What challenges in the U.S. cultural environment do you hold\r\nFiat to face as it uses its Chrysler connec- tion to compete in the American car market? What management challenges exit Marchionne face in the aras of planning and decision making, organizing, and star? 1. Fiat has established it self as prime(prenominal) product. Bringing their reputation and business skill result attract American consumers. Having their attention and possibly intermingle the product they can conquer the America market for cars as well as Italy, Europe and opposite country markets. Being based in the US they can now claim Fiat as a US product and use all the tax cuts. Making it more affordable, now it has foreign looks without the exotic prices! If manufacturing is domestic with the Fiat cars as well as Chrysler I think it lead be good for the US economy, providing more jobs on a middle class level.\r\n2. The tax breaks as a US company for Fiat will be very beneficial as far as marketing/advertisement but a major draw back will be the amply cost in labor as opposed to the labor cost in countries such as Mexico. Fiat will also have a situation of dealing with new labor laws. American labor laws are more stringent than separate companies. This is also power tolerance country. Employees are non as submissive as those of other countries. Americans are considered lazy. Fiat bringing their CEO (Marchionne) to America to straightaway handle the merger will make the passageway a lot soother for the company. When first appointed to Fiat CEO he laid off 10% of white collard employees and 20,000 labor employees, restructuring with fresh new talent, he will follow do the same plan with Chrysler. But bringing in his own citizenry proven to be valuable.\r\n3.This merger can be characterized as a direct investment because Fiat is take a chance a piteous there location to the US. Fiat is dealing with this merger on a first hand basis. They are not operating business threw a tertiary party. Americans are use to large cars. The idea of campaign a smaller car, to a lot of Americans will socially awkward. They may need to find a social common ground with the American passel make their car appear attractive as well as economical. As I give tongue to previously management American are considered lazy. oversight may have difficulties with the competency of the American employees. They may have to find new way of boost to employees.\r\nResearch: Fiat and Chrysler Fiat is now hold for court finding of fact from the Delaware court before purchasing the be 41.5%. Fiat has a difference in value with VEBA ( U.S. healthcare trust) of the $2 billion. VEBA values the be 41.5% at $4 billion. Fiat wants to purchase the remaining 41.5%, merger the 2 companies then list them on the New York Stock Exchange by 2014. That will make them the 7t h largest car manufactures in the world. finding of fact is expected to continue until the end of July, 90 eld from the last hearing on April 25. Until then Chrysler is at a stand still while Fiat must continue to sell car to bargain for the remainder of Chrysler.\r\nSource: Fiat awaits court verdict ahead of Chrysler merger http://www.reuters.com/article/2013/05/30/us-fiat-chrysler-elkann-idUSBRE94T0GA20130530\r\n'

'Forest Hills Case Study Essay\r'

'According to the cause materials, Forest Hill Paper Company is classified ad as a small manufacturer, and one that is â€Å"closely-held.” This could rifle one to believe that it is possibly a family-owned profession, or at least managed in truth actively by a few people. Ownership must be rattling hands on and awargon of the business from a micro and big level. Therefore, we would classify the gild as a small business and ownership is probably structured by one or a few people who ar genuinely involved. FHPC could be as yet be an S-corp, depending on that information.\r\nForest Hill ope localizes in a rattling rotary patience, with upswings every three to four years, consort to the mooring. This is due to customers buying a lot of reputation during good economic times. Customers overbuy and are left with inventories of paper, and so don’t buy for a time until former(a) economic boom occurs. Therefore, the intentness is very ofttimes affected by t he overall macro economy. The indus generate is also being affected in terms of a loss of market share, because there is a trend toward plastic and the use of to a greater extent environmentally friendly hits of recycled paperboard. One could argue that the industry and market is mature, and even declining. Another aspect to go steady about this industry is that it is one that has barriers to entry. The greet of offset a manufacturing lodge are high. It is not an industry with small capital outlay. Also, there are regulations in manufacturing which could keep competition from arising.\r\nWe read in the case that Forest Hills is a small company competing against great(p)r companies in a commodity market. Therefore, FHPC has taken the outline of differentiation. They have tried to offer a spaciotemporal amount of products and services, but are trying to carrel out from the crowd by offering particular(a) service and rapid responses to customer needfully. Unlike the big c ompanies, FHPC could develop more of a relationship with from from individually one one customer, and take more time to listen to their needs and meet customer needs more efficiently. The scheme of differentiation shows their desire to create a inlet establish, not so much focused on innovation, but on customer service. Hopefully customers go forth appreciate the service, and want to continue business with FHPC as opposed to the bigger companies.\r\nThere are more examples of complexities that find belt speak tos for FHPC. One of the complexities is that the company offers a variety of products, with some different bear on for severally product. We read that the company tries to manufacture products in an order that decreases costs, such as keeping analogous processes together. Even so, the tacks in process and equipment needed drive overhead costs up with so much variety in products and steps in the manufacturing process. each time another product is added, or even ch anged slightly, costs are incurred and will drive overhead in terms of increased material costs or manufacturing costs.\r\nIf Forest Hills is serious about conflict their customers individual needs, they also need to understand that each customer differential comes with greater overhead costs. The specifics of each customer desire causes complexity. We would also argue that another complexity of overhead costs is due to the cyclical nature of the business. There are times of large quantity of fruit, while other times performance would be down as the demand decreases. This makes it rough to predict and measure overhead costs, as the output of toil varies. The management must truly try to understand their fixed and variable costs and how to poise times of boom and retraction removely and efficiently.\r\nCapturing Manufacturing be\r\nThe current cost system of rules allocates manufacturing overhead base on the amount of raw materials con marriageed in the mathematical produc t process. It applies the aforementioned overhead at a rate of $1.05, per $1.00 of raw materials consumed. presumption the actual data collected in exhibit 2, the rate appears to adequately identify for the sum of overheads generated, as evidenced by the tabulate below:\r\nCost of a Grade careen\r\nFHPC produces 20 different grades of paperboard. Each grade is laughable and the amount varies so some batches maybe very large and some quite small. The company practices feed manufacturing so successive batches of similar grades are sort out together in order to reduce waste. The cost of a grade change includes the following: depreciation, labor, energy, other and lost chemicals. Assume 4 grade changes in ingrained from the information provided.\r\nCost to Slit a Reel of Paperboard\r\nA farm bicycle of paperboard is 12 feet long. Food processors require widths of 18 inches. This means that three slits must be do to produce 3 †18” rolls. Approximately 6 inches of w aste is produced by creating 3 †18” rolls. solo grade A and grade C are slit. A total of 85 reels are produced each reel requiring 3 slits. A total of 255 slits are made. The overhead for slitting is $195,000 for slitting. The overhead rate per slit is $764.71. assumptive 3 slits per reel the total cost for slitting a reel is $2,294.12. Summary listed below.\r\nNew Volume-based Overhead tramp\r\nIf Forest Hill removes the overheads traceable to grade changes and slitting from total overhead, the application rate needs to be adjusted. An appropriate application rate for the remaining OH can be calculated by dividing the aforementioned OH by the sum of RM costs:\r\n activeness Based Costs †Grades A-D\r\nIf an natural process based cost system were to be implemented, the parent reel costs (for the same level of exercise indicated in exhibit 1) could be estimated as follows:\r\nActivity Based Costs and Volume Cost part Change\r\nPrepare a table that illustrates the per centum change in costs between the volume-based system and the strategic activity-based system.\r\nConclusions and Recommendations\r\nWhat conclusions can you draw from your compend? As a consultant to Forest Hill, what actions would you recommend?\r\n12. The analysis above shows the concerns of management were accurate. The costs of A and C were understated because the costs related to the slitting operation were unfairly being allocated to other grades. Grades B and D do not consume any of the slitting department resources, olibanum should not be responsible for the absorption of verbalize departments’ overhead costs. In addition, the economies of scale being generated by high volume sales were being unfairly distributed to low volume grades.\r\nThis is evident in the cost of grade B, which was previously only being allocated $one hundred forty of total grade change costs (grade change as a percentage of total OH, cypher by total overhead allocated to grade B). Giv en that grade changes are only incurred if a grade is run, it makes more sense to allocate costs based on the actual flesh of a production runs, as opposed to how much material was consumed in a run, which has no bearing on the number of set-ups required.\r\n'

'Command vs Market Economy\r'

' summons frugal System: When we talk about the marge â€Å"command” in historical context; whether it relates to sparing, political or warfare, command has always been vested in the give of the few. If we relate â€Å"these few” to a group of mickle who exercise power in terms of making decisions (be it economic/social/political and so forth for ALL the raft they govern, we c either this process or system a â€Å"Government”. In a command economic system, this government basically owns and controls most of the economic imaginations of the country.This â€Å" assertion” economic system is also known as â€Å"socialism” or â€Å"communism” (McConnell †Economics) In any economic system decisions have to be make regarding production of goods and services, price setting, education, expenditure on infrastructure, resource allocation, resource/property ownership, resource distribution, establishment of industries and businesses, salari es for individuals etc. In a Command Economic System, all these decisions are taken by the Centre/Government.Public in general/ individuals in general do non have any â€Å"say” in such(prenominal) government decisions. Practically speaking, â€Å"Absolute” command thrift doesn’t exist in this world, even get on perfect â€Å"command economy” of Soviet Federal/Russia had mystical/ securities industryplace influences in its system. McConnell states North Korea and Cuba as near to perfect Command Economic Systems. Pakistan besides took a step towards socialism/nationalization in Zulfiqar Ali Bhutto’s era in 1970s, which later had to be discontinued in wake of emerging capitalistic economic forces at that time.Market Economic System As opposed to Command Economic System, Market Economic System is characterized by near to minimal fibre of Government in governing and directing economic operation of the country. In other words, it is simply the other of a command economic system discussed above. The undischarged features of a market economic system includes â€Å" cloistered” ownership of economic resources (i. e. , land, labor, capital and entrepreneur), coordination of economic activity through markets, production and distribution decisions aken by private businesses and firms, determination of market prices and quantity through forces of exact and supply (rather than government) etc. The concept of market is inherent in understanding the captioned subject. Market is a step forward where buyers and sellers of products come together and through their buying and sell behaviour, price and output for the economy is determined. The sellers seek to maximize their objectives (primarily profit) through engaging in practices that may compromise societal benefits at large (self interest).To keep profitable, businesses initiate/invest in R&D to come upon economies of scale to minimise cost and this lust for mark et power often leads to competition/inter opposition amongst firms which leads to production of goods and services at less than socially optimum level. Though practically speaking a perfect market economy can’t exist (government intervention is required in authoritative areas) Hong Kong, United States and Ireland (ref McConnell) are nearest examples of free market economies in today’s world, where Government’s intervention is minimal.\r\n'