Impact of Underinsured Working Class Essay Example | Topics and Well Written Essays - 1000 words

Impact of Underinsured Working Class - Essay Example As inexperienced political leaders tried to stimulate industrialization and address poverty, their economic development was largely underwritten by loans from multilateral banks and bilateral support from states. This external development assistance was called upon to build infrastructure and obtain equipment for vertical programs to combat major diseases, to support health projects, and to provide technical assistance until national staff could be trained to take over. Those funds were available directly, and exclusively, to state governments. II For experimental treatment of water supplies, health services research, environmental pesticides, nutritional supplementation of everyday foods, and similar broad-scale interventions, individual consent may not be feasible. Entire communities may be randomized to experimental or control status. The decision to undertake the research must be made by responsible authorities on behalf of the community. Attitudes vary among human populations about the treatment of children, women, the handicapped, the elderly, and members of certain ethnic minorities and societal subgroups. The activities of health workers may conflict with locally established attitudes and cultural practices regarding abortion, family planning, the position of women, or a host of other conventions. In such cases the terms of reference of any bilateral agreement must be spelled out in particular detail and the scope of work of specific project activities of workers must be carefully described and monitored to maintain respect for the ethical precepts of the host country. In extreme situations, official policy or habitual practice results in systematic abuse of groups of people ethically unacceptable to health workers who must cancel or terminate their programs. The growth of modern biomedical science has led to increasing pressure for sites for studies such as clinical trials of new pharmaceutical products and vaccines. As these studies and trials are conducted among local populations with varying cultural norms, the question has arisen whether it is ever justifiable to apply different ethical standards to different populations. Approval from research or human subjects review boards of local participating institutions should be obtained; if such boards do not exist, their establishment should be encouraged. Formal authorities should sign off on any study, and it would be well to coordinate with local medical societies or similar groups. Impact of Underinsured Working Class 4 III. Financial Impact A. Public money is spent on health interventions of low cost-effectiveness for uninsured and underinsured, such as surgery for most cancers, at the same time that critical and highly cost-effective interventions such as treatment of tuberculosis and sexually transmitted diseases (STDs) remain under-funded. In some countries

Understanding Inflation Essay Example for Free

Understanding Inflation Essay The amount a product costs should be the first decision a consumer has to make before they purchase a good or service. Consumers may find themselves asking what exactly makes a price rise and why their money can purchase less and less. The answer to this question is inflation. What is inflation and why should any consumer care about inflation? A general overview of the inflation phenomenon, the main measures of inflation, and how inflation plays a role in the economy will all help a person better understand why their money seems to be worth less each year. Overview of Inflation In order to truly understand inflation, the first step is listing the main cause of inflation pressures on the economy. Inflation begins initially and continues to occur due to sustained excess of spending in the economy. (Wilson 27) This amounts to spending over and above what is considered average spending for the economy in past months. The type of spending that would cause inflation is when people, groups, businesses, government, and foreigners all together demand or try to spend more than the economy can produce at full employment, prices in general will be bid up. (Ibid) Basically what this amounts to is people all wanting to buy products and services, but there are not enough products or services to fulfill all the buyers. The prices will go up because manufacturers can sell the product at a much higher rate because there are so many buyers. The solution to the problem is really two separate incidences that must happen in order for prices to begin falling. One of these solutions is excess demand for goods and services is reduced† and the other solution is for â€Å"capacity of the economy to produce is expanded, the price level will continue to rise. (Ibid) Thinking about these two situations makes sense. If the demand for goods or services decreases then less people will want to buy and there will be more of the product for the remaining consumers. Also, if a manufactured item is rising because it is not manufactured in many factories and suddenly factories spring up all over to manufacture the product then the price will fall. The demand and supply capacity are the cornerstones of inflation, but what also plays into inflation’s fluctuations is the money supply. The Federal Reserve Bank sets interest rates for borrowing of money. The lower the interest rate the greater amount of money that is borrowed, and the higher the interest rate the lesser amount of money that is borrowed. (Wilson 103) For example, if borrowing $1000 would cost 10% a year, a borrower would be paying $100 a year for the use of that initial $1000. If, however, the Federal Reserve Bank lowers the interest rate to 5%, the amount the borrower would be paying per year would be cut in half. In the latter example, a borrower would be willing to take out a larger amount of money because it would cost them less. So, with a larger amount of cheaper money in the market, prices will begin to rise because the cost of that money would cause more people to borrow as compared to a higher rate of interest. Money would essentially be worth less because the Federal Reserve allows it to be worth less by dropping the interest rate. The rise in prices would continue until the Federal Reserve once again decides to raise the interest rate. (Ibid) The Federal Reserve utilizes these money techniques in order to help spur growth in the economy, but the downside to economic growth is always inflation. Measures of Inflation An important concept of inflation is to pay close attention to inflation indicators. These â€Å"indicators† are indexes that signal a potential arrival of inflation for the country. Many measures of inflation exist, but the main types are the Consumer Price Index (CPI), Bureau of Labor Statistics (BLS), and the Bryan-Cecchetti model. The CPI is perhaps the most important indicator because it is the model that all other inflation models emulate in some way. The first step in understanding the CPI is to decipher the calculation of the index. The CPI is constructed from basic component indexes. Component indexes are those goods and services that a consumer purchases and those â€Å"components† are split into 207 items. (Moulton 13) Also, there are 44 more items included for the urban areas of the United States, and these two sets of items are multiplied together to a total of 9,108 components for the CPI. (Ibid) For example, dairy products are considered just set of the components within the 9,108 components used to calculate the CPI. A problem arises with the CPI in that many products come and go in the market and it is up to the CPI to document these types of changes. This problem is overcome by the economists allowing for products to enter and leave the market as well as estimating the indexes on the basis of samples used from all the items that consumers buy for a given period. (Ibid) This type of calculating gives economists as comprehensive a picture as one can get. The resulting figure is compared to previous time periods and an increase percentage or decrease percentage is discovered from the calculations. This increase or decrease percentage is the amount that general prices have risen or fallen in between those time periods. If the prices rise then the CPI will show the American public that inflation has occurred. It is important that the CPI stay current with the ever-changing American economy. This is why the CPI is updated once every 10 years, and the last update occurred in 1998. (Greenlees, and Mason 3) This aspect of the CPI is important because of its relation to inflation. The CPI is used in many government programs including entitlements for school lunches and food stamps as well as the amount figured for tax deductions. (Ibid) If the CPI is not allowed to evolve with the evolving economy, many people would not be allowed government benefits or tax deductions that they otherwise would deserve. Thus, the CPI is examined and revised so inflation pressures do not have as much an impact on government programs. Another measure of inflation that is essentially a CPI number but factored with a different set of variables is the BLS model. The BLS model highlights the fact that some parts of the CPI are considered volatile due to outside pressures such as weather and international conflicts. Cogley suggests, the Bureau of Labor Statistics computes a ‘core inflation’ measure that consists of a weighted average of all CPI components except for food and energy, which are removed because their prices tend to be more volatile. (94) Energy can be affected by international conflicts and food supplies can be affected by the weather. Thus, the BLS model will demonstrate a less drastic change in inflation numbers if these events do occur. A final measure of inflation that utilizes the CPI is the Bryan-Cecchetti model. This model takes the BLS model one step further. The Bryan-Cecchetti system still uses the CPI as a basis, because the economists that developed this model understand that the CPI is the greatest general measure to be utilized. However, the Bryan-Cecchetti model extends the BLS approach by automatically excluding large price changes from the CPI basket regardless of the sector in which they arise. (Ibid) Bryan-Cecchetti correctly identifies that other sectors besides energy and food are affected by outside influences and can have a drastic rise or fall. However, the CPI is still considered the main standard for deciding the amount of inflation in the economy. The Role Inflation Plays in the Economy Inflation would essentially mean nothing to the average consumer if it had no bearing on the economy. It is in the economy that inflation can either hinder a person’s ability to purchase or cause a lack of growth for businesses. The role inflation plays in the economy is substantial. One of the main consequences of unwanted inflation is to the American worker. The first negative impact is a consumer’s shopping patterns and amount of money spent on goods and services. Inflation â€Å"causes consumers to shift the timing of their shopping closer to the receipt of income and creates incentives for shop owners to decrease their inventories. (Frenkel, and Mehrez 616) Less of a product in the store and less purchasing power of consumers combines to create even more inflation in the economy to occur. It is a cycle that ultimately raises prices to a harmful degree. So, a consumer is left with little alternatives to combat the harm that inflation causes. A person with less money will possibly lose their job (because of the lack of buying by other consumers), will consume less (because of the higher prices and lower supplies), invest less (because of the lack of money to invest), and finally rely more on credit (because the purchasing power of credit does not have to be paid until later). (Ibid) Another problem with inflation in the economy is it decreases the value of the dollar. As discussed previously, more dollars in the stream of commerce or rising prices due to limited supplies will help lower the value of the dollar. In this country, for example, â€Å"the dollar lost about three-fourths of its value between 1965 to 1985; between 1985 and 2005, it lost a bit over one-third of its value. (Hoar 42) This dramatic decrease in dollar value is due to inflation. This occurrence is precisely why older Americans will reminisce about how a movie and a Coke cost them less than a dollar. The dollar is still the same, but the amount it can purchase has decreased and will more than likely continue to decrease in the future. Conclusion If a person is purchasing goods or services in America then inflation and the CPI are important concepts to understand. Understanding these two concepts will help a person better plan their future and allow them to stay calm when their money cannot buy them as much as before. Works Cited Cogley, Timothy. A Simple Adaptive Measure of Core Inflation. Journal of Money, Credit Banking 34. 1 (2002): 94+.Frenkel, Michael, and Gil Mehrez. Inflation and the Misallocation of Resources. Economic Inquiry 38. 4 (2000): 616-628. Greenlees, John S. , and Charles C. Mason. Overview of the 1998 Revision of the Consumer Price Index. Monthly Labor Review 119. 12 (1996): 3+. Hoar, William P. Myths about Inflation. The New American 12 Dec. 2005: 42+. Moulton, Brent R. Basic Components of the CPI: Estimation of Price Changes. Monthly Labor Review 116. 12 (1993): 13+. Wilson, George W. Inflation Causes, Consequences, and Cures. 1st ed. Bloomington, IN: Indiana University Press, 1982.

grachi tiberius gaius rome Essay examples -- essays research papers f

THE GRACCHI Tiberius Sempronius Gracchus was bon in 163 B.C. and came from a distinguished family. His grandfather conquered Hannibal, his father brought the Celtiberian war successfully to a close, reduced Sardinia, and was elected consul for two terms and sensor for one. His mother Cornelia was a woman of wide-culture who employed Greek tutors to educate her sons, Tiberius and Gaius. Two tutors who influenced Tiberius at a young age were Diophanes, a teacher of oration and Blossius of Cumae, a philosopher. After taking part in the campaign of 146 BC, which ended with the destruction of Carthage, Tiberius was elected quaestor in 137. Travelling through Etruria, Tiberius saw large estates worked by slaves and noticed the absence of free peasants. It is said that Tiberius realized the need for reform while visiting this province on his way to Spain. There, Tiberius served in a war against Numantia under the consul Mancinus. After suffering numerous defeats in battle, Mancinus attempted to abandon camp. However the Numantines, realizing what was happening seized the camp before they could escape. Tiberius saved the Roman army from slaughter by securing a treaty with the Spaniards. When they returned to Rome, Tiberius was seen as a saviour and blame was placed on the incompetent generals who were handed back to the Spaniards for execution. Tiberius himself escaped judgement by the skin of his teeth. According to Plutarch, ‘It would seem†¦that Scipio, who was then the greatest and most influential man at Rome helped to save them’ (1988, 159) There are a number of dominant motives for Gracchus’ want for reform. His knowledge of Greek political thought and practices allowed him to understand the needs and potential of the state, the Spanish campaign, slave revolts in Sicily, the increase in Rome’s unemployment rate and the impact the changing economy had on the republic. It doubtful that only one of these fuelled Gracchus’ desires for change, it is more likely a combination of many or all. When Tiberius began to speak out in politics he did not do so alone. He was backed by his father-in-law Appius Claudius Pulcher, who was Princeps Senatus and two others, Pontifex Mucius Scaevola and Pontifex licinius Crassus Mucianus. IN 133 Tiberius Gracchus was elected tribune. He proposed a ‘lex agraria’ which would make land owned by the state available for distribution ... ...ople. During Gaius’ visit to Junonia to oversee the construction effort, rumours were spread in Rome by his opponents of the delay and failure of his new colony. Through these rumours, Gaius lost favour with the people. This can be seen due to his failure to get re-elected for a third tribunate in 121. As tribune Minucius Rufus proposed to repeal one of Gaius’ bills, he gathered support. In a minor disturbance, a servant of consul Opimius was killed. The senate was forced to pass a resolution that consuls should see to it that the Republic came to no harm. Opimius summoned to arms senators and equites against Gaius and Flaccus who had occupied the Aventine hill. After failed negotiations they and their supporters were defeated and killed. It is said that the weight of their heads in gold was to be awarded to the man who brought Opimius the heads of Gaius and Flaccus. Once again political differences in Rome resulted in bloodshed and brought an end to the remaining Gracchi. BIBLIOGRAPHY H.H. Scullard, From the Gracchi to Nero 2003 Routledge, London Plutarch, Roman Lives 1988 Penguin E.S. Shuckburgh, History of Rome 1896 Macmillan & Co. Ltd, London

Criminal homicide Essay

Criminal homicide is the most severe form of homicide and is considered one of the most serious crimes in society. This kind of homicide consists of unlawful conduct and malicious intent on the part of the killer. Murder is one form of homicide and is the most serious type. The crime of murder itself may seem straight forward but the laws surrounding the crime are intricate and entail a precise set of circumstances to institute the components of the murder. Murder is defined as â€Å"the purposeful, knowing, or reckless unlawful killing of another human being.† It has two separate components: The suspect must have acted with the required specific intent to kill and the suspect’s behavior must have caused the death of another human being. Many states use different terms to define intent or mens rea. Pennsylvania uses the terms lying in wait, willful, deliberate or premeditated to institute the required specific intent (Wallace & Roberson, 2012). The second component entails a death as an outcome of the suspect’s acts or failure to act and any conduct will meet the requirements. There are also different degrees of murder including first-degree, second-degree and manslaughter. These different degrees of murder depend on the purpose behind the killing and the way the killing is committed. The specific definition of each degree depends on the state or country that the crime is committed in. First-degree murder is different from the other two types of murder because it is planned. Normally, first-degree murder is a criminal offense involving intent, homicides that are planned, or homicides that occur during the commission of another felony. The crime of first-degree murder needs the intent to kill, premeditation of that killing and deliberation of that killing. Some examples of first-degree murder are poisoning, bombing and assault with a deadly weapon. The penalty for committing first-degree murder is different depending on which state the crime is committed in but is most likely life imprisonment or even the death penalty. Defenses against first-degree murder include actual innocence, mistaken identity, justified homicide, self-defense, defense of others and insanity. Second-degree murder is a crime of passion or an unlawful killing where the intent to kill and the act of killing itself happen almost simultaneously (Schmalleger, 2012). For example, a person who commits a killing in a fit of rage or a person who is motivated to kill by receiving insults or physical abuse, are likely to be charged with second-degree  murder. But the act of killing must happen instantly after the fit of rage or insults because if time lapses between the two than it permits the chance for thought to occur which would turn into premeditation and therefore become first-degree murder. Defenses against second-degree murder include actual innocence, insanity, and self-defense. Third-degree murder or manslaughter is different from the other degrees because it refers to homicides that result from someone’s action that is unlawful or negligent. Other names for third-degree murder include negligent homicide, negligent manslaughter, or involuntary manslaughter. Manslaughter is a less serious crime than first or second degree murder because it involves carelessness and not purposeful killing. An example of manslaughter is a drunk driver who causes a fatal accident can be charged with vehicular manslaughter. Defenses against manslaughter include actual innocence, accidental killing and intoxication.

History of Western Art Comparison 1

A Progression of Idealistic Perfection in Sculpture: Khafre Enthroned to Kritios Boy Early Egyptian art from the Old Kingdom, ca. 2575-2134 BCE, demonstrates uniform structure. Egyptian artists and sculptors adhered to a system of strict rules known as canon to create this consistency. The Egyptian canon suggested perfection to be a rigid, ageless idealization of reality. Roughly 1,500 years later, a progressive canon emerged in Greek art reflecting new ideals of perfection. Greek art beginning in the Early Classical Period, ca. 80- 450 BCE, digressed from the acceptance of formula (influenced by Egyptian canon) to reflect greater naturalism, an adherence to close observation of reality. Greek perfection was achieved through rational ordering of the world, in which the canon was based on a mathematical system of proportion. A comparison of two sculptures, Khafre Enthroned from the Egyptian Old Kingdom Period and Kritios Boy from the Greek Early Classical Period, illustrates a progres sion of desire to achieve perfection from Egyptian ideals of knowledge and completeness to Greek ideals of vision and the natural.These sculptures represent an advancement of artistic technique from set formula to fluid rationality, both with a shared desire for excellence. The granite sculpture of Khafre Enthroned from Gizeh, Egypt, ca. 2500 BCE was recovered from the valley temple of pharaoh Khafre. Functioning as a funerary statue, it provided a substitute for the pharaoh’s soul, or ka. Khafre wears a plain kilt and displays Egyptian royalty with headdress and false beard. His flawless, muscular body sits upright with one hand clenched in a fist.In addition to rigid posture, Khafre’s face is emotionless yet serene. Iconography of divine rule and unification embellish the sculpture; with lion’s bodies and papyrus plants decorating the throne, and a falcon sheltering pharaoh’s head. Like the immortality of the soul, Khafre appears to be timeless without regard to his real age or appearance. Khafre Enthroned aims to represent the divine nature of Egyptian rule as idealization of human form to a god-like perfection. The marble sculpture of Kritios Boy from Greece, ca. 80 BCE marks an influential point of stylistic evolution. In contrast to Khafre Enthroned, The Kritios Boy was created for a public audience. The Kritios Boy’s standing pose represents a freedom in his figure that divorces the solidity of the stiffly seated Khafre. Rather than emanating timelessness, this naturalistic sculpture seems to capture a specific moment in time. Mirroring a normal human stance of balance and weight shift onto one leg, his stature is contrapposto.Furthermore, the Kritios Boy’s physical composition maintains a smooth contour to his natural musculature. His head is slightly turned with hair that seems to fall effortlessly in place. He is completely naked, wearing only a relaxed expression on his face. With no indication of identity, the Kritios Boy exemplifies naturalism in Greek drive to order to analyze form into constituent parts and represent the specific in light of the generic. The figure sculptures of Khafre Enthroned and Kritios Boy exhibit a start and end point in an evolution of artistic technique.Although a single male figure is the subject of both works, canon clearly develops from Khafre Enthroned to Kritios Boy. Both works express a desire for perfection with the use of contrasting ideals. Egyptian artists prized completeness and timeless to achieve a god-like representation. Later, artistic form advances as Greeks sought naturalism and rationality. The culmination of both early rigid and fluid canons formed Greek ideals of balance between the timeless and present. This drive to order led to foundations of Greek art that dramatically influenced art history from that point on.

Respecting Students Is a Must for Teacher Effectiveness

Respecting Students Is a Must for Teacher Effectiveness Respecting students is essential for boosting teacher effectiveness. It seems today that the media jumps at every opportunity to showcase an educator who has made a poor decision in judgment. One of the most prevalent issues highlighted is that of a teacher continuously berating or disrespecting a student or group of students. This type of behavior is unacceptable. All educators expect their students to be respectful to them, but some fail to realize that this is a two-way street. All educators should show their students respect at all times including tense moments of conflict. Conduct a search on Google or YouTube for â€Å"teacher abuse† and the number of examples you will find of such unprofessional conduct is embarrassing to the profession. Educators should be adult enough, professional enough, and smart enough not to conduct themselves in this manner. In an age where every student has a cell phone, it only takes one time to find yourself on YouTube, embarrassed, and out of a job. Teachers must think before they react and choose their words carefully. How to Build Strong, Trusting Student-Teacher Relationships Sometimes we forget where many of these students come from and the situations that they deal with on a daily basis. School should be a safe haven and kids should trust all of their administrators, teachers, and staff members. Every kid is different and these differences should be embraced. If all kids were the same our jobs would be boring. It is important to realize that there are tremendous differences between each individual student and with each individual class. A 3rd grader cannot handle what a 6th grader can handle and so on. Try to have patience and understanding when dealing with a student. Before you say anything, take a deep breath, think about your response, and choose your words carefully. Your tone matters as much as what you say. We expect our students to be respectful to us and we should, in turn, be respectful to them at all times. This isn’t always easy, but you must always handle interactions with students in a positive manner. You should never berate or embarrass a student. It is best to address them separately from the class. The key is to talk to them, not down to them. Kids are going to make mistakes. It would be ignorant to think that they won’t. You are setting yourself and them up for failure if you do. There is a difference between having high expectations and having unrealistic expectations. Preconceived notions can and will destroy a relationship with a student. Everyone deserves a second chance. Allow someone this chance and you will find that they will surprise you more often than not. Educators should always strive to build positive, trusting relationships with their students. Some of these relationships take time to build and others are relatively easy. Respect is always the key. A teacher becomes so much more effective when they can earn a classes respect. Reasons Why Teachers Lose the Respect of Their Students There are several things that a teacher can do to lose their students’ respect. Doing any of these things can lead you on a path towards disaster. It is best to avoid the following practices: Never treat students differently based on personal interests.Do not create rules that can be perceived as unfair.Never misuse your authority.Do not ignore a student.Never avoid smiling and being friendly with your students.Do not yell or scream.Do not have a negative attitude on a consistent basis.Do not be afraid to apologize or admit when you make a mistake.Never become friends with students when they are in your class.Never give control over to your students.Do not be hypocritical.Do not say anything that you would not want to be recorded and played back.Do not humiliate or berate students in an attempt to get them to behave.Never use sarcasm.Do not use profanity.Do not violate a student’s personal space.Do not gossip, discuss, or complain about other teachers in front of your students.Never issue vindictive or counterproductive threats.Do not hold things against a student that is beyond their control. How Teacher Can Earn Their Students Respect There are several things that a teacher can do to earn their students’ respect. Doing these things will lead you on a path toward mutual respect and it will maximize a teacher’s overall effectiveness. It is best to engage in the following practices: Have a Positive Attitude: An educator who has a positive attitude toward their students and their job will be more effective. All of us have bad days, but we should still strive to remain positive even on our worst days.Be Consistent: Students must know what your expectations are on a daily basis. Be inconsistent will lose their respect and attention faster than just about anything.Be Fair: Treat every student the same when dealing with the same situation. Giving out a different set of consequences for the same actions will undermine your authority.Have a Sense of Humor: Having a sense of humor can be disarming. Students will naturally look forward to coming to your class and learning if they know that you aren’t uptight and rigid.Be Flexible: Teachers that aren’t flexible are setting themselves and their students up for failure. Things happen in life that is beyond anyone’s control. Be sensitive to every situation and be willing to adapt and veer from your sched uled plans when necessary.

January Reflections Example

January Reflections Example January Reflections – Essay Example Leadership Introduction In leadership, a leader should exhibit a number of characteristics. A good leader is one who portrays a set of characteristics that not only enable the individual perform their leadership function, but also relate well with their subjects. Such characteristics include servant leadership, charisma and social intelligence. A servant leader is one who shares their power with other individuals. Such a leader puts the needs of other people as their first priority. A servant leader is initially a servant. Such a leader usually has a natural feeling of serving individuals first, then performing their leadership roles later. This conscious choice is what aspires the individual to lead. Social intelligence in leadership is the ability of a leader negotiating complex social relationships and environments. Social intelligence is what defines humans. A leader therefore should possess social intelligence. With social intelligence, a leader is able to understand and manage well the relations of boys and girls, men and women by acting wisely during human relations. Charisma is the attribute in an individual that brings a compelling charm, which aspires devotion in others. Charisma may also be a divinely conferred talent and power. Great leaders have charisma and many subjects are charmed by the leader’s charisma. Perception on the Interview Donald trump, a successful business magnet in New York, America portrays a number of leadership characteristics in his interview at ABC News. Trump, for instance, portrays strong confidence in his personality. He speaks confidently about the great company that he has built over the years which has a staggering net worth of over $10 billion. He confidently boasts of beating a lot of smart people in the country by doing so. Trump shows high levels of social intelligence during the interview. When asked on his opinion about other politicians, he chooses his words well when describing his thoughts about them. He tactfully evades the question on the validity of Obama’s birth certificate. A great leader should portray high levels of social intelligence since the leadership office demands a lot of such. A leader for instance, shall be dealing with a lot of conflicts on a daily basis and as such, should have social intelligence. Trump, in his interview, brings out a strong sense of charisma. He is the type of individual that leaves a viewer impressed or inspires to be like him. When trump talks about building his business, he further states that the future of the country should be like the success of his business and implies that is exactly what he shall do once in office. Lastly, trump shows levels of servant leadership in him. He talks of being concerned about America’s economy being ripped by China and other countries. His concern of fixing his country’s economy first before other things not only shows that he has servant leadership traits in him, but also portrays high levels of patriotism for his country. Conclusion Leaders have the role of steering a country. Just like trump said in the interview, individuals need to choose the correct candidate. A candidate who portrays good leadership skills, patriotism and love for his country is a good leader. When choosing a leader, citizens should be very keen in order for them to make the right choice. References Donald Trump This Week Interview. (2013). Retrieved from: youtube.com/watch?v=FC_wapgQLxw. Accessed on [15.02.2014]

Master SAT Reading 5 Types of Passages

Master SAT Reading 5 Types of Passages SAT / ACT Prep Online Guides and Tips The College Board wants the world to think that the SAT is detached from real-world trivia, a pure test of reasoning and skill. But, of course, this is essentially impossiblehence the scores of SAT prep options out there (of which we are one). As an attempt at a useful reference buoy in the SAT ocean, this post is an outline of the categories of writing that SAT Reading passages always fall into. Many students are frustrated by the opacity of many SAT reading passages, torn as they are from any meaningful context. The SAT gives a tiny preface to some of the more arcane passages, but mostly they just throw students in and let them sink or swim. The best way to prepare for SAT Reading is to do some realistic practice tests, but that might seem like a daunting first step. This article provides a good stepping stone of giving examples of passage types. We hope some students out there find this useful; the high school-to-college transition is a stressful time, and we’re in the business of making it less so. So, without further ado, the main types of passages you’ll see on the SAT Reading section. To give you a feel for each type of passage, we’re going to include a snippet from each that represents the typical style of that passage type. Okay, one bit of further ado: the categories are listed in order of frequency on the test. Now let’s go. #1: Science Culture Since the SAT is supposed to test students’ readiness for college-level academic work, the College Board loves passages like this. Topic: Language acquisition Sample: We know that adult language is intricately complex, and we know that children become adults. Therefore something in the child's mind must be capable of attaining that complexity. Any theory that posits too little innate structure, so that its hypothetical child ends up speaking something less than a real language, must be false. Topic: Evidence in scientific research Sample: It was disturbing to me to see anyone so facilely blur the distinction between observations and interpretations and then even go so far as to make numerous deductions without the slightest shred of evidence. When I was very young and did not "see"  what seemed obvious to adults, I often thought I was stupid and unsuited for science. Now I sometimes wonder if that is why I make progress. I see the ability to invent interconnections as no advantage whatsoever where the discovery of truth is the objective. #2: History History passages give the SAT a chance to test your understanding of specific meaningful events or evolution of ideas over long periods of time. These are situations in which outside knowledge is (a) most likely to occur, especially for students in AP History courses, and (b) most detrimental: remember, only draw your answers from the material on the page. Topic: The evolution of the meaning of bohemianism Sample: In 1843 when Michael William Balfe's once famous opera The Bohemian Girl premiered in London this meaning was still widely current. A Bohemian had come to mean any wandering or vagabond soul, who need not have been associated with the arts. It was the malnourished Parisian poet, Henry Murger, who was responsible for clinching the term's special association with the life of artists. Topic: Joan of Arc Sample: The report of a supernatural visitant sent by God to save France, which inspired the French, clouded the minds and froze the energies of the English. The sense of awe, and even of fear, robbed them of their assurance. Upon Joan's invocation the spirit of victory changed sides, and the French began an offensive that never rested until the English invaders were driven out of France. #3: Personal Narrative This and the categories below point more squarely at liberal arts topics, but mostly maintain the neutrality and of the Science and History passage types. Topic: Evolution and captive breeding Sample: The rationale for breeding endangered animals in zoos is nevertheless compelling. Once a species falls below a certain number, it is beset by inbreeding and other processes that nudge it closer and closer to extinction. If the animal also faces the wholesale destruction of its habitat, its one hope for survival lies in being transplanted to some haven of safety, usually a cage. In serving as trusts for rare fauna, zoos have committed millions of dollars to caring for animals. Many zoo managers have given great consideration to the psychological health of the animals in their care. Topic: An American’s visit to Paris in the 1960s Sample: The architectural space of Paris is an astonishment to me because its scale so accurately attunes inhabited earth to sky that I can actually walk in a work of art. I feel in some subtle way eased. I find myself in a world ordered by people of like mind to my own, in a companionship rendered visible. As if for the first time in my life I could be content to be human without having to forego, because of that limitation, my intuition of divine order. #4: Arts Commentary These are slightly less common than the above categories, but they’re still worth mentioning. They’re written much like other discussions of art or literature, and so a great way to prepare (and learn some good vocabulary) is to read some high-quality art and literature reviews, which have their own style and language that extends to the SAT Reading passages. Topic: Vermeer’s The Girl with the Pearl Earring Sample: Snow describes the girl’s gaze as a stew of unresolved contradictions, which only leaves the captivated viewer all the more guilty and confused. Surprise, bewilderment, yearning, acceptance, understandingin sequence, or all at onceher glance seems to convey all of these. â€Å"Suddenly, the most personal responses, drawn from the most private, well-protected regions of the self, are required.† #5: Literature Passages from this category show up less frequently on the SAT (thus, only one sample) and have a slightly different feel: they’re difficult not because of scientific terminology or historical references, but mainly because of antiquated language and totally unfamiliar subject matter (e.g. the descriptions below, or a character’s concerns about her upcoming marriage). Source: An old-timey novel about a ship Sample: The youngest man on board (barring the second mate), and untried as yet by a position of the fullest responsibility, I was willing to take the adequacy of others for granted. They simply had to be equal to their tasks; but I wondered how far I should turn out faithful to that ideal conception of one’s own personality every man sets up for himself secretly. A Few Further Notes Overall, SAT Reading passages should be similar to some of the material in your high school textbooks. If you’re curious about how the SAT relates to high school academics, see this blog post about the correlation between achievement in the two areas. Also, don’t be surprised if you see passages that combine two of the above passage types: the essay about evolution and captive breeding, for example, is also a personal narrative. Ready to take the next step and dive into the wonderful world of SAT Reading? Start by reading our guide on how to get a perfect score on SAT Readingit's chock-full of great advice. Like what you read? Get our FREE EBOOK Guide:

National Policy Essay Example | Topics and Well Written Essays - 250 words

National Policy - Essay Example According to our UNIT 7 lecture notes, public policy â€Å"refers to the actions taken by government — its decisions that are intended to solve problems and improve the quality of life for its citizens.† In this case, public policy is actually formed following these three processes: policy formulation and adoption—this is where an approach is come up by different political stakeholders in solving a certain problem; implementation—this is where the decision of government is put into effect; and evaluation and termination evaluation—this is where a specific public policy is reviewed and evaluated based on a cost-benefit analysis. In this case, a particular problem is actually identified through something that attracts attention of the government, especially when the welfare of the public is harmed or threatened. In determining solutions for this problem, different political stakeholders actually present their approach on how the problem is solved†”including congress, the executive and the judicial branches of government, civil society groups, political parties, and even the citizens most affected. Works Cited Unit 7: Politics and the Economy (Lecture Notes)

Shakespearean Drama Essay Example | Topics and Well Written Essays - 1500 words - 1

Shakespearean Drama - Essay Example Jews were only allowed to be money lenders or peddlers. It was common that they didnt charge interest but only took property if the debt was not honored. Jews were stereotyped as very few people actually met a Jew in his life time. It was humorous to say that Shylock wanted a pound of flesh as payment, knowing that it would never be done. This is ironic symbolism of being circumcised which is one of the steps of conversion towards Judaism. At the end of the play he is being forced to convert to Christianity. Secondly, murder would never be accepted. Antonio had been rude and nasty. Why should Shylock have ever done anything nice for him as giving him the 3000 Ducats. They had a love hate relationship. This is something which one only does for a friend. Something else was making him furious and had changed in their relationship. Perhaps losing his daughter to his Christian Servant where they both run away to get married. Then Lorenzio goes to work for Antonios friend Basanio. Shylock has a lot to be angry for. It is no longer a question of money thus the stereotype of money no longer is applicable. "The quality of mercy is not strained †¦ it blesseth him that gives and him that takes." (Portia, IV, i)  Portia is saying that mercy is higher that demanding justice. Shylock recognizes the contract with Antonio but if he gives him mercy, it ends there. If he demands justice, the court of Venice takes over and it will be Shylock who looses his life. Her logic is excellent and surprising. There is no reference to Judaism but to humanity itself. Mercy takes precedence over justice. "How far that little candle throws his beams! So shines a good deed in a naughty world." (Portia, V, i)  Portia follows later in the same seen to explain that "Nothing is good, I see, without respect. " Is she making reference to Shylock that he is indeed a good man who was wronged by Antonio. He has lost his daughter to Lorenzo who is a friend of Antonio.

Anheuser-Busch and Harbin Brewery Group Case Study

Anheuser-Busch and Harbin Brewery Group - Case Study Example Harbin Brewery acquisition cost was the highest in China years 2002-2004 and accounted for $28.4 mm. Harbin Brewery was the leader in selling beer in all three segments in Heilongjiang where the per capita consumption was 36 liters, double the national average. However, the high consumption rate has left no opportunity for further growth and the company was forced either to live with the existing sales level or to expand nationally. The acquisition by Anheuser-Busch allowed Harbin Brewery to meet its growth objectives and gain national identity. B/C. Governance and Top Management: Anheuser-Busch, being very interested in expanding to China, has experienced the number of small and big acquisitions of the national and regional breweries. Chinese beer market is very fragmented and the top five firms account only for 38 percent of the market. Anheuser-Busch has bought the minority ownership position in the Tsingtao premier brewer on 2002 in order to gain the access to brewing capacities and distribution channels. Harbin Brewery Group has also experienced numerous ownership changes since 2001. In 2002 the firm has went public with 41 percent of shares distributed to public. On June 1 2004 Anheuser-Busch held 37.4 percent in Harbin. The current CEO of Harbin is Peter Lo who has supported the acquisition of his firm by Anheuser-Busch and is expecting to experience significant expansion of Harbin brands on the national and international markets. II. External Environment (Opportunities and Threats) A. General Environment: Chinese beer market is the greatest in the world since late 1990s with the solid sales growth of more than 40 percent in the recent five years. With the largest sales volume globally, the average sales price is still relatively low, confirming the growth potential for domestic and foreign brewers. In addition, there is significant growth in the target population for beer and rise in the average income. Chinese consumers do not have loyalty to the particular brands, while they favor the domestic brews (99.5 percent of all consumed beer). The acquisition of Harbin by Anheuser-Busch and low level of competition, gives the company the opportunity to gain the loyalty of major segment of beer consumers. B/C. Industry Environment and Summary of External Forces: In overall the Chinese beer market is very attractive - the growth of sales and increasing number of consumers reduces the number of competitors. Even though the threat of substitute is high, the supplier power threat is not significant. Nevertheless, the manufacturing infrastructure and personnel problems make it almost impossible for Harbin to uniform the high quality of the product. III. Internal Environment (Strengths and Weaknesses) A/B Corporate Structure and Culture: The Harbin Brewery, as the part of Anheuser-Busch, did not change the structure and culture. Taking into account the current problems with personnel training and lack of skilled professionals, the workforce is culturally diverse. C. Organizational Activities Analysis: Harbin is not outperforming its competitors (Tsingtao, China Resources Enterprises, Beijing Yanjing Group, and Guangzhou) from both financial and market

Lab report Example | Topics and Well Written Essays - 750 words - 2

Lab Report Example Some of the samples were obtained near the river in a hilly place with ample cover of various types trees (Easton p38). While others were obtained away from the river, the main goal being to expose the students to experience field work, and environmental science Hypothesis that we formulated included, most soils found in wabashiki river are clay soils, the nearer the soil is on the river the higher smoother the texture, texture of soils depicts its components, the soil pH is mostly constant Every group having the relevant materials embarked into obtaining the samples for use and documentation. Each and every person within the group was expected to come up with his own samples each. Some from near the river and further away from the river; the sampling site was obtained after the purpose of the study was established thus no major sampling technique was put in place (Easton p135). The study was to take place along the river at different coordinates. The analysis of a soil sample to det ermine its nutrients and the contents contaminated and also other characteristics like the ph. Level. There were various soils testing strategies put in place some were to be done in the field so that one could obtain results as soon, as the soil was from its natural flora, and fauna to avoid defects due to transport handling and storage. Some of the testing done on the field includes crushing, feeling the texture acidity porosity trough exposure to water. The soils were obtained from flat grassy ground, and also from a hilly part near the river the following was observed, Both soils had the same average period of time, i.e. 10yrs though thee color varied as the soils obtained from the grassy flat area had a less color value than those obtained from near the river that had a higher color value. Although the two ended up having the color Chroma values of two each, the soil that was obtained from the grassy flat area was established as a sandy loam soil after cross examination. While the soil obtained from near the river was established as silty clay loam soil. Each collected sample was labeled accordingly comprising the following; group name, student initials, GPS coordinates, section number, date and sample number. Members of the group were to meet and carryout various tests within the laboratory this is where the tests for nitrogen, phosphorus, and potassium were done. The samples were to be divided, and parts of them were dried for the purpose of carrying out tests in total more 10 samples were collected in my group five from near the river, and the other five away from the river this was executed such that each sample came from different coordinates so as to obtain well distributed samples (Easton p 220). After the tests were conducted the following was observed, the soils extracted from near the river had low contents of phosphorous while those obtained from near the river had relatively high quantities of phosphorus. All the samples tested had very low qu antities of nitrogen in them whether they were obtained from further away or near the river. The ph. of all the samples obtained was neutral at 7 points this showed that despite the fact that the samples were obtained from different places none, showed any basic or acidic characteristic. From the results, it was also noted that the all the samples obtained from the two areas, had very high contents of potassium. The tests conducted were fundamental in depicting the various characteristics of each and every sample obtained. The soil texture of the samples obtained varied. z sandy loam soil color sheet 10 color value 3 color chroma 2 ph 7 The soil texture is known as the relative composition of various soil particles size fractions in soil.

Now you see me(2013) Essay Example | Topics and Well Written Essays - 1250 words

Now you see me(2013) - Essay Example There is no link in the cast of this film. Laurent and Ruffalo are engaging protagonists. The film’s bumbling steely optimism vs. pessimism makes it enjoyable to watch. It is also interesting to watch Caine portray Freeman as Thaddeus, and Arthur Tressler as the rich sponsor of the Four Horsemen. These two subvert the audience’s expectations, by acting as older gentlemen. By comparison, the Four Horsemen, despite likable performances, are not equally satisfying as characters who are fully-realized on the surface and as metaphorical embodiments of emotional qualities. The Louis Leterrier’s cinematic technique blends well with Boaz Yakin Magician Caper storyline. The result is a captivating subtext about the importance of art in entertainment, an enduing magic of films, and the critical role of creative integrity in the cynical skepticism world. The final film features a charismatic band of actress and actors who create a bit of fun and exciting viewing experience through better communication that underlies the message. The film Now You See Me lacks the majestic pop-art statement. The movie’s central set pieces and action sequences are not executed with enough finesse. Furthermore, an attempt to spin the deeper mythology may seem too much like a sequel fodder or rather an afterthought. Nonetheless, this demonstrates that Hollywood films can still entrance. Commenting on the film Ricourt and Yakin said the Now You See me film is similar to a screenplay by (Yakin 4). The film is characterized by twists and turns that probably do not pe rfectly hold up under close-scrutiny. The narrative tends to boil down to a cat and mouse game. However, it is interesting to participate in the guessing contest. Similarly, â€Å"the final reveal† caps off themes and ideas, which are developed throughout the story, is satisfying and easily brings greater significant to the story line proceedings. A look at review’s of renowned critics can give an insight

Management and Organisational Behavior Essay Example | Topics and Well Written Essays - 1500 words - 1

Management and Organisational Behavior - Essay Example The other motivation I got in another internship was being given token gifts and allowances even though it was a non-paying internship. The allowances were not much but they meant everything to me and were a sign of the company appreciating my work. My current workplace where I have worked the longest motivates its employees through providing training to the best performing employees as well as having paid vacation leaves where the company provides even vacation packages for those with families which are fully paid. The employees never willingly leave the company and they have made the company excel in terms of increased profitability as well as gain a competitive advantage in the industry. Herzberg Two factor theory explains very well about motivation and the factors that can motivate the employees. According to the theory, there are two types of factors in any organization and these are the hygienic and the motivational factors. The hygienic factors are those employees cannot do without as their lack leads to dissatisfaction and their presence motivation. They include factors such as salaries, interpersonal relations as well as good working conditions (Brooks, 2010). The motivational factors, on the other hand, are rarely present in an organization but their presence satisfies and motivates the employees immensely. These factors are mostly ignored in many organizations but if used can bring a great difference in terms of performance increment. They include factors such as awards, recognition, and responsibility among others. The other motivational theory is the Maslow’s hierarchy of needs theory. This theory has five levels which individuals have to pass before they completely become self-actualized. The completion of each of these levels is a motivation to move to the next level. These levels of needs

Now you see me(2013) Essay Example | Topics and Well Written Essays - 1250 words

Now you see me(2013) - Essay Example There is no link in the cast of this film. Laurent and Ruffalo are engaging protagonists. The film’s bumbling steely optimism vs. pessimism makes it enjoyable to watch. It is also interesting to watch Caine portray Freeman as Thaddeus, and Arthur Tressler as the rich sponsor of the Four Horsemen. These two subvert the audience’s expectations, by acting as older gentlemen. By comparison, the Four Horsemen, despite likable performances, are not equally satisfying as characters who are fully-realized on the surface and as metaphorical embodiments of emotional qualities. The Louis Leterrier’s cinematic technique blends well with Boaz Yakin Magician Caper storyline. The result is a captivating subtext about the importance of art in entertainment, an enduing magic of films, and the critical role of creative integrity in the cynical skepticism world. The final film features a charismatic band of actress and actors who create a bit of fun and exciting viewing experience through better communication that underlies the message. The film Now You See Me lacks the majestic pop-art statement. The movie’s central set pieces and action sequences are not executed with enough finesse. Furthermore, an attempt to spin the deeper mythology may seem too much like a sequel fodder or rather an afterthought. Nonetheless, this demonstrates that Hollywood films can still entrance. Commenting on the film Ricourt and Yakin said the Now You See me film is similar to a screenplay by (Yakin 4). The film is characterized by twists and turns that probably do not pe rfectly hold up under close-scrutiny. The narrative tends to boil down to a cat and mouse game. However, it is interesting to participate in the guessing contest. Similarly, â€Å"the final reveal† caps off themes and ideas, which are developed throughout the story, is satisfying and easily brings greater significant to the story line proceedings. A look at review’s of renowned critics can give an insight

Greenhouse effect and global warming Essay Example | Topics and Well Written Essays - 1250 words

Greenhouse effect and global warming - Essay Example There has been a considerable increase in the average temperature of earth in the past century. This rise in temperature is attributed to the effects of global warming brought about by the accumulation of greenhouse gases in the atmosphere. This phenomenon is called Global Warming. (In the news, Global Warming.org).The global warming has happened in the past few years and is evident from the rise in mean temperature of the earth's atmosphere. The main causes for the global warming are attributed to release of green house gases by human activities. The main gases contributing to green house effect are carbon dioxide, water vapor, methane and nitrous oxide. The largest producers of these gases are the thermal power plants, which burn the fossil fuels and produce these gases in large quantities. The second biggest sources of these green house gases are the road vehicles and industries. The global warming has led to increase in mean earth surface temperature and thus melting of polar ice . There are frequent melt down of glaciers that result in floods and other natural calamities. The melting of ice at the poles had led the mean sea level. And further increase in temperature may further melt the ice and lead to further increase in mean sea level, which will engulf low lying countries. (Global Warming facts, Global Warming.org). HOT (or warm) TOPIC as Always! Well, Global warming has always been in news for some time around due to several factors (including comical) and was even referred in the Daryl Cargle cartoon Global chaos-Halloween 2008 as one of the demons in the Halloween night who scare today's population. On the contrary this principle has been exploited so skillfully by ecological scare-mongers that it is now regarded as politically incorrect, even unscientific, to denounce global warming hysteria as unproven speculation. In his latest exciting and provocative techno-thriller State of Fear, Michael Crichton exposes a scintillating revelation, regarding the way ecological groups have twisted data and facts to create mass anxiety. He points out that we know astonishingly little about the environment. All sides make exaggerated claims. "We know that atmospheric carbon is increasing. We are also in the midst of a natural warming trend that started in 1850 at the end of what is called the Little Ice Age. It is scientifically impossi ble to prove whether the subsequent warming is natural or man-made." Greens say, rightly, that the best scientific assessment today is that global warming is occurring. Yet never in history have scientists accurately predicted what will happen 100 years later. A century ago no scientists predicted the internet, microwave ovens, TV, nuclear explosions or antibiotics. It is impossible, even stupid, to predict the distant future. That scientific truth is rarely mentioned. Why Because the global warming movement has now become a multi-billion dollar business with thousands of jobs and millions in funding for NGOs and think-tanks, top jobs and prizes for scientists, and huge media coverage for predictions of disaster. Something worth a laugh! The "Discovery" channel recently produced a documentary on Greenland's alleged "melting glaciers." Oh boy! Here we go again with Global Warming. It's

The Illusive Race Question and Class Essay Example for Free

The Illusive Race Question and Class Essay Abraham Lincoln once said, â€Å"With malice toward none, with charity for all, with firmness in the right, as God gives us to see the right, let us strive on to finish the work we are in, to bind up the nation’s wounds (cited in Franklin 1993). † This sentiment has been expressed many times since the absolution of slavery in 1870. Yet with every step we take towards eradicating racism, we fail to see it encroach in an insidious and malicious manner. We have been led to think that this epidemic is about the color of a man’s skin. In the Illusive Race Question and class it states, â€Å" Racism resembles bacteria. It has the uncanny ability to resist Cures (Acuna, p. 4) . † First Steps Our first biggest step toward eradicating racism in this country was President Lincoln’s signing of the Emancipation Proclamation on January 1, 1863. Although the document had very little power to free slaves, it was considered an â€Å"Act of Justice. † It was a cry for America to wake up and understand that All men are created Equal. One hundred years later, Vice President Lyndon B. Johnson said, â€Å"Until justice is blind, until education is unaware of race, until opportunity is unconcerned with the color of men’s skins, emancipation will be a proclamation but not a fact cited in Franklin, 1993). † Mr. Johnson understood that racism came not just in the form of color, but of education, location, and social status. Earliest Forms of Indoctrination Parents are recognized as the earliest source of children being indoctrinated with racists views , classmates are second ( Savard Aragon, 1989). This study states that during our early gradeschool years each child has learned to do some stereotyping. They also recognize that cultural and institutional prejudices are more subtle, the roots being passed down through many generations. Reverse Racism Annuit Coeptis takes racism one step further by suggesting that in all of our attempts to restore balance and remove racism we have created reverse racism again the white man. He says it is not uncommon on a college campus to see Asian Students Associations, or Latin American Students Associations, but you will not see a White Students Association. The article states, â€Å"Questions of race on college applications can mean only one thing; for college admissions officers, race does matter. That race helps to determine an individuals acceptance to a college is not affirmative action, it is discrimination in action. (Robinson, 2009) † Racism in another form Although the Illusive Race Question Class is based primarily on how racism affects Latinos and their history of racism, I have found through the research of this paper, that every ethnicity can claim racism in some form or another. We have all at one time or another been type casted whether it was because of our ethnicity, the area in which we grew up, our family’s history or financial circumstances. I close with this, â€Å" My point is that we once believed that racism had been defined and that we were on our way to eradicate this ugly social disease only to find it active and well, but in another form. (Azuna, 2005) †

William Wordsworths Lines Composed a Few Miles Above Tintern Abbey Ess

William Wordsworth's "Lines Composed a Few Miles Above Tintern Abbey" Whereas most individuals tend to see nature as a playhouse that should alter and self-destruct to their every need, William Wordsworth had a very different view. Wordsworth perceived nature as a sanctuary where his views of life, love, and his creator were eventually altered forever. The intensity of Wordsworth's passion for nature elevated him from a boy into the inspiring man and poet in which he is recognized to be today. One of the most compelling works Wordsworth ever devised was that of "Lines Composed a Few Miles Above Tintern Abbey." The poem enlightens the reader on the awesome power and depth of nature, which Wordsworth has discovered in his trials and tribulations upon the earth. Thus, to fully understand the significance of nature in all lives told through "Lines Composed A few Miles Above Tintern Abbey" one must understand the setting and mood, as well as comprehend the rhyme scheme, and use of many diverse poetic devices that interact within the poem. One is able to gain insight into "Lines Composed a Few Lines Above Tintern Abbey" by first trying to understand the mood and setting of the poem. Although it "is a miniature of the long poem Wordsworth never quite wrote" (Robyn Young p.409) it lacked nothing as far as depth and intensity goes. Wordsworth was very skilled in such areas, although his writing may be come very complex it is said that it was a result of "the spontaneous overflow of emotion" (Gale Net). Wordsworth wrote this poem, as cited by Wordsworth without "any part of it was written down till I reached Bristol" (F.W. Bateson p.191). Wordsworth was a firm believer that man should ?find an immanent force that unites them with their physical and spiritual environments? (Jan Shoemaker p.1). As Wordsworth revisits this beloved place of his (Tintern Abbey) he is reminded of how he once perceived this sanctuary. Wordsworth attempts to compare and contrast two worlds, Brian Barbour states ?Wordsworth?s basic strategy is to a ppeal to the spiritual while remaining entirely within the natural order?(Barbour p.154). When he was a young child he came to this valley using it as his own personal playground. He never gave nature the respect and praise that it so deserved. He just saw nature through a young child?s eyes; he saw a tree in which to climb, grass in which wa... ...pt. The reader viewpoint of nature in a sense is altered, as Wordsworth is erudite about the wonders of our mother nature. One must learn to live in harmony with nature to fully understand our true character and to enjoy the gracious gifts of natural world that have so graciously bestowed upon us all. Works Cited Barbour, Brian. "Between Two Worlds." Nineteenth-Century Literature. California Press (1993): 14 7-168 Bateson, F.W. Wordsworth a Re-Interpretation. London: Lowe and Brydone (Printers) Limited, 1956. Bloom, Harold. Bloom's Major Poets. Pennsylvania: Chelsea House Publishers, 1999. Bloom, Harold. Modern Critical Views. New York: Chelsea House Publishers, 1985. Gill, Stephen. A Life. Oxford: Clarendon Press, 1989. Hartman, Geoffery H. The Unremarkable Wordsworth. Vol. 34. Minnesota: University of Minnesota, 1987. Shoemaker, Jan. Bill and Gus. [Online] http://FirstSearch.oclc.org. Jan 27, 2000. Wordsworth, William. Detroit: Gale Company, 1999. [Online] Exploring Poetry. Feb 22, 2000. Wordsworth, William. Lines Composed. [Online] http://www.library.com/poems, Feb 29, 2000 Young, Robyn V. Poetry Criticism. Vol. 4. Detroit: Gale Company, 1992

Broken Angel :: essays research papers

Broken Angel by Francine Pascal Broken Angel by Francine Pascal is a story about Angel Desmond who is at the racetrack and has gambled away all of his money. His girlfriend Tia Ramirez and her friend Conner McDermott are looking for him. They find him at the racetrack and Tia gets very angry with Angel when she finds out he has lost all of his money. Angel dreads telling his parents, because he lost his whole savings account which was for college. He graduated form El Carro is supposed to go to Stanford in the spring. His parents are really excited about it.Angel stayed up late that night thinking about what happened. The next morning his mom offers to take him to get a small refrigerator for his dorm room at Stanford. He cannot take the pressure anymore so he tells his parents he does not have any money. Then he tells them what happened and they are very disappointed in him. His father fires him from his job at the garage that his father owns. Tia and Conner meet ant the cafà © and try to think of ways to help Angel. Finally when everything seems hopeless Conner thinks of a good idea. Conner’s mom is in all kinds of charities that give out scholarships at the end of school. Conner said he would ask his mom to put in some good words for Angel. Conner goes to ask his mom to help Angel. He is very nervous because she is usually drunk. She is an alcoholic. He finally gets his nerve up and knocks on her bedroom door. He walks in and she is cleaned up and sober. It was a big shock to Conner. His mom calls a few people for Angel and makes a few dinner dates.Tia goes to Angel’s house to tell him the good news. He comes to the door smiling from ear to ear. He said he has got good news for her. She tells him the news about Conner’s mom trying to get him a scholarship. He tells her tell Conner to just forget it. He is not going to college. He tells Tia he is going to stay with her. She tells him he cannot because he has worked so hard to go to Stanf ord. He then tells Tia she does not love him because she is pushing him away.

How cultures use food Essay

1. Outline the way different cultures use the value food? Out of the many different cultures present throughout the world, all value food in most similar ways. Most similarities can be struck between the availability of foods within their regions, specifically enviromental and seasonal ripening in the spring period. Food has become plentiful in Western civilisations over the past few decades, , due to the advances in agriculture allowing maximum growth and larger yields in the shortest amount of time (Chemgeneration 2011). This has also introduced interest into controversial genetically modified foods and the use of hybrid varieties of plants that have more desirable qualities. An example of this is Maize and certain potatoes that secrete a pesticide from the plant to ward of pests and insects, thus removing the need to use pesticides and chemicals (Chemgeneration 2011). Dr Rosalie McCauley (Development Office Department of Agriculture and Food WA, p1), obtained results that genetically modified foods haves been more increasingly used as th e use of farmland increases exponentially at over 6% per year, seeing some 170.3 million hectares of GM foods being grown. In western society, there are a significant percentage of people either being overweight or obese, even Australia that has a population of approx 22 million (Australian Bureau of Statistics p1), with over 60% is considered over weight (ABS 2012, Australian Bureau of Statistics). Most overweight or obese individuals have and unhealthy relationship with food and it was theorised by Dr Carole Hungerford (Good Health in 21st Century) it can be considered ‘an addiction’. There is speculation as to why western society has such an addiction foods such as bread and milk, as we are the only species that drinks milk after weaning, especially that of another animal. Clinical studies and Medical Publications released by Dr J.L. Fortuna (PUBMED, 2010, p1) found clinical similarities for binge eating to that of drug dependences seeing a similar release of serotonin as with other drug dependencies. Though obesity is a prevalent condition around the world, numerous countries do not have the same obesity rates as western culture, some of this is likely to result in the way food is perceived by other cultures. Comparatively, in some cultures around the world, it is part of their culture to abstain from food for a short period of time. A more popularly known fasti ng is the Islamic undertaking of Ramadan where they fast during day light hours (Huda, 2009). Though in western cultures, people have a dislike to feel hungry, and can feel like they have fasted if they miss morning tea during a busy day at work. Numerous cultures throughout history have also used food as offering to their gods or deities to pray for health, or future harvests rain. Egyptian Pharaohs would be entombed with vast pots of food and spices to be used on their journey to the heavens. Some traditional practices continue even today such as the Korean Charye used to honour families ancestors, where special foods are prepared to during the Chuesoerk Ceremonies. The Chuesoerk (Korea.net, 2010) is a three day holiday to celebrate the good harvest received during the spring of that year. These cultural and religious uses for food are worldwide, and often not too distant from Christian practices of thanksgiving celebrated during the Christmas period. In conclusion, all cultures, no matter how distant or unique, have significant celebrations, events or relationships with a large role involving the use or lack of foods. The use of food to bring together communities and families is not dissimilar in almost all countries and demographics on earth; however the individuals use or overuse is not always healthy. References: 1. The Chemical Generation 2001, Viewed 14 January 2014 2. The Chemical Generation 2001, Viewed 14 January 2014 3. Dr Rosalie McCauley, Department of Agriculture and Food, WA, viewed 10 January 2014 4. ABS (2012) Australian health survey: First results, 2011–12. ABS cat. no. 4364.0.55.001. Canberra: Australian Bureau of Statistics. Viewed 14 January 2014 5. Aust Government, National Health and Medical Research Council. Viewed 10 January 2014 6. Hungerford, Dr Carole, 2008, Good health in the 21st century, Revised Edition, Scribe, Victoria. 7. Fortuna, J. Department of Health Science, CALIFORNIA STATE UNIVERSITY, viewed 10 January 2014 8. Huda, About.com, 2009. Viewed 15 January 2014 9. Korea.net, 2010, viewed 11 January 2014 2. What general concepts guide the present western diet? The current concepts of the western diet are based in the influence of proteins, carbohydrates, fats and vitamins and minerals (Whitney and Rolfes, 2013). Although we have come a long way with the introduction of multiculturalism some decades ago, for many western diet is still based around the proteins consisting of meats, predominantly red meat and chicken, carbohydrates with starchy root vegetables. This is often referred to as the ‘meat and three veg’ diet and the previous generations would have grown up with this as their diet staples as they where the majority of foods available for purchase or even grown themselves. With exception to the last 200 years, mankind has been involved in the seasonal use of foods and their diets where restricted by what was available at those times. Today there are vast changes in the way foods are produced to permit year round availability and the creation of food products that have previously been unavailable. Researchers at Bates Collage (Lewiston, ME, USA, 2013) believe that in the last 150 years since the invention of stones mills, the refining process of grain to create white flour, is now a consistent staple within the western diet. It was noted that this is a considerable source of carbohydrates and the cultures that had not encountered this food type previously began to show Heart Disease, Type 2 diabetes and stroke. These are all ailments that had been previously unseen in those areas. Additionally, the belief of receiving good value for money has become one of the most influential concepts and reasoning behind the purchase of processed food in recent times. The perception to receive the best meal, to be filling, quickly and well priced has seen the fast food chain market turn into a billion dollar industry (B.A. Swinburne, 2004). Anna Hodgekiss (U.S. daily Mail editor) explains that the over indulgence of these highly fatty foods have been  linked to short life spans and arrays of health problems. Even with the warnings and proven heath problems that arise, some families can become dependent on foods that are considered â€Å"value for money†. In conclusion, the general concepts to achieve the main food groups are relevant and understood but poorly enacted. The ease and availability of cheap fast food and highly refined products, that arrive ready to eat, are becoming preferential over the more time consuming cooking of foods from the local supermarket. References: 1. Whitney, E and Rolfes, S. Understanding Nutrition 13th Edition, 2013, Wadsworth USA 2. BATES Collage 2014, 2 Andrews Road Lewiston, ME 04240. Viewed 14 January 2014 3. Online book extract B.A. Swinburne, Public Health Nutrition, Chap 7, pp132 (p10). Viewed 14 January 2014 4. Hodgekiss, Anna, U.S. Daily Mail, viewed 14 January 2014 3. Discuss the comparative issues between man and nature? Nature is the world surrounding us, and it is the term we use to describe anything that happens which is out of our control. Such as natural disasters like cyclones, floods and drought. So considering this nature can not only be seen as a friend, but also as an enemy. Man desires to control nature by synthetic, mechanic and industrial plans. Synthetic and Natural medicines desire the same outcomes, of long life and good heath, but the methods to achieve it could not be any more different. Whether it is derived by numerous chemical processes or used in the original form it is found, nature made and manmade are vastly different especially when it comes to health and healing. Some cultures rely almost completely on nature to provide their basic needs such as water, food, shelter and even medicine. Though considered bland and not in line with the â€Å"perfect diet† (Health Schools Australia notes), the health benefits and improved health conditions are  achieved without the use of synthetic medicine, where as Western Diet, requires supplement by manmade medicines. This reliance on the local flora and fauna to provide all essentials and life improving aspects is not a new belief and is understood worldwide, but has been partially replaced by Western perception of that health can only be achieved by Pharmaceutical (Crigger NJ). The perception that health and food are separate and not interrelated because ‘man’ has created medicines that are better than those extracted from the ‘nature’ like Tibetans and non western cultures. In contrast, Western society has adopted that the scientific basis behind the synthetic production of therapeutic medicines is the only medical way to treat disease and illness. Today, it appears the practice of non synthetic medicinal applications is mostly centric to non western cultures. The â€Å"Perfect Diet’’ is deemed as a one shoe fits all remedy for the correct eating and dietary requirements for modern people. Where if we look at the diets of other cultures, such as the Hunza diet or Mediterranean Diet, where the majority of the population has a life expectancy significantly higher than that of the Western counterparts may have something to do with the foods that differ to that of the â€Å"Perfect Western Diet†(Diet Choices, 2014 and Trichopoula, A). One key reason is believed to be the Hunza population in the Himalayas consume more than 200% (Dainca Collins, 2011) of the B17 (also known as Amygdalan) than their western counter parts. This is likely due to the Hunza eating the seeds of all fruits, which is something that is often discarded within western society. Christina Larner (Body and Soul) has identified that Apricot se eds contain the largest concentrations of B17, and has been used a cancer treatment in modern times. However the same seeds are alleged to have caused Cyanidic acid when consumed to excessive quantities, but cases of cyanide toxicity are rare (Christina Larner). In conclusion, man created medicines for health and longevity are proven to be available in the natural world around us. Public perception provides the strongest reasons why man made pharmaceuticals are the main stream choice for western society, where as the isolated communities use the world around them to treat their ailments. 1.Whitney, E and Rolfes, S. Understanding Nutrition 13th Edition, 2013, Wadsworth USA 2.Crigger, N.J. 2009, PUBMED, US National Library of Medicine, viewed 14 January 2014 3.Diet Choices, 2014, Diet Choices, Las Vegas NV, USA, viewed 15 January 2014 < http://dietchoices.com/diet-plans/hunza-diet/> 4.Trichopoula, A. 2000, PUBMED, US National Library of Medicine, viewed 14 January 2014 5.Dainca Collins, 2011, UNDERGROUND HEALTH REPORTER, viewed 15 January 2014 6.Larner, Christina, Body and Soul, viewed 15 January 2014 4) Diversity of foods has been a benefit to the human race? Australia’s culinary heritage has expanded greatly over the last 100 years with numerous population demographics immigrating to Australia. We have observed cultural and culinary delights flood our markets, restaurants and kitchens with sights, smells and aromas from around the world. Many years ago these would have been deemed exotic and bizarre, but are now considered almost staple additions to the average household pantry. Fifty years ago, within our Grandmothers pantry, our available food selections were significantly limited in spices and rare/exotic foods that are now considered normal place. Meat and three veg meals of starchy root vegetables and heavy protein meats where the staple of the diet during those times. It is argued (Potatoes SA) that these staples popularity on Australian kitchen tables where due to the European based settlers focusing on farming practices for this produce over the last 100 years. Pliner and Hoden (cit. Evaluation of food choice behaviours, p 20) stated it was more to do with the neophobic attitude towards foreign foods due to the â€Å"unfamiliarity of foods† that limited the adventurous mindset to the evolving culinary scene. In either case, only since World War 2 did the appearance of multicultural foods and diets start to intermix. One of the most popular entries into our diets is the highly regarded Mediterranean diet consisting of uncooked fresh whole vegetables, whole grains and some fish and seafood but minimal meat. That compared to the past diets of root based vegetables that where often boiled or baked, and argued to lose most of its natural vitamins and minerals during the cooking process, especially seen with water soluble vitamins (Better Health Channel). The high use of tomatoes within the Mediterranean diet, which contain large amounts of the antioxidant lycopene and that is believed to have anti-tumour properties to relieve cancers  particularly in the prostate and multiple-myeloma (Tonia Reinhard, p44-45). Additionally, the vibrant coloured vegetables that contain high amounts of VIT A and C such as Capsicums, Spinach, green leafy vegetables. VIT A is required for vision, the immune system and as an antioxidant. Dr Carole Hungerford (Good health in 21st century, p160) identifies that night blindness is a symptom of VIT A deficiency. Even the fats used are considered healthier with the Olives and olive oil as the principle source of fat. Tonia Reinhard states that Olive oil contains the richest source of mono unsaturated fatty acids, being 77% mono-unsaturated and 14% saturated, this is attributed as to why it helps to prevent cardiovascular disease. In conclusion, the diversity of foods that have spread across the world is bring ing the many health benefits to many. As the world continues to expand and new ideas and foods are embraced, soon the healing and healthy properties of those unique diets will improve the health and well being across the globe. 1.Potatoes South Australia, 2013, Elder House, Adelaide, SA, viewed 15 January 2014 2.Online Thesis – Roininen, Katariina, 2001, Evaluation of food choice behaviour: Development and Validation of health and taste attitude scales, visited 15 January 2014 3.Better Health Channel, July 2013, Victorian Government, viewed 15 January 2014 4.Hungerford, Dr Carole, 2008, Good health in the 21st century, Revised Edition, Scribe, Victoria. 5.Reinhard, Tonia, (2010), SUPERFOODS The Healthiest Foods on the Planet, Cove Press, NSW 5) The future of nutrition In the past and even in some places still today, nutrition has not play a conscious role in conventional medicine, as the focus has and always seems to be about treating disease not the cause. Nutrition based medicine has been labelled with a stigma as ‘alternative’ or new age and not given the same attention as the newest drug on the market. Recently have we begun to see some changes within the health care system which offers clients a  natural alternative to pharmaceuticals. This has began a movement known as Integrative Medicine (OSHER, 2012), where the approach is about taking the best from conventional and alternative medicine and combining them. This combination of practices is reinforcing the tenants of prevention rather than cure, which follows the old adage that â€Å"an ounce of prevention is better than a pound of cure†. We are already seeing this revolutionary ideal take off with the emergence of integrative clinics now established in some major citi es, and where patients even seek further information from their GP on what additional alternative treatments are available for their ailments (Mike Adams, 2005). This wider social consciousness towards natural alternatives is perhaps due to the increased marketing of nutritional supplements within media (Mike Adams, 2005). These messages are making people more curious about their health and what they can do to improve it. In addition, we are seeing nutritional products such as ‘Inner Health Plus’ a pro-biotic supplement, is sometimes prescribed to patients following a course of antibiotics. This behaviour by GP’s is demonstrating a small but important step to the medical and health organisations towards the evolution of nutritional medicine. The popularity of supplements and their advertised health benefits has propelled the sale of many nutritional products, especially Omega 3 supplements derived from fish oil or krill oil (Lisa Schofield, 2013). Omega 3 that is naturally occurring within deep ocean fish species has been proven to be beneficial for arthritis suffers, for heart health, and general wellbeing (Whitney, 2013, pg 161.). Dr Hungerford (Hungerford, 2008) tells us that until recent times, animals who do not manufacture their own omega 3 would have had to eat plants which contain omega 3’s for protection against the cold and other health benefits. However, as we domesticated animals, kept them warm in barns, and fed them the food we grew; the animals did not require as much omega 3 in order to survive. This man made change is a potential reason is why fish still remains one of the best sources of omega 3, as the majority of fish that we consume are wild. (Hungerford, 2008 pg. 6-7). In summary, the stigma of nutritional based medicine is slowly being lifted as media, mainstream medicine and health care practitioners inculcate these practices into their professions. Today, more than ever, people have access to the information and products that can be utilised to improve their health, wellbeing and  diets. As the message becomes clearer and better understood, it is likely that the stigma will be removed completely and nutritionists will be given the same renowned as the doctors and medical professionals that share the same vision for long and healthy life for all. 1.Osher Centre for Integrative Medicine, University of California, 2012, CA, USA, viewed 17 Jan 2014 2.Adams, Mike, 24 July 2005, Natural News, viewed 17 Jan 2014 3.Hungerford, Dr Carole, 2008, Good health in the 21st century, Revised Edition, Scribe, Victoria 4.Schofield, Lisa, 09 Sep 2013, Nutraceuticals World, viewed 17 January 2014 5.Whitney, E and Rolfes, S. Understanding Nutrition 13th Edition, 2013, Wadsworth USA Bibliography ABS (2012) Australian health survey: First results, 2011–12. ABS cat. no. 4364.0.55.001. Canberra: Australian Bureau of Statistics. Viewed 14 January 2014 Adams, Mike, 24 July 2005, Natural News, viewed 17 Jan 2014 Aust Government, National Health and Medical Research Council. Viewed 10 January 2014 B.A. Swinburne, Public Health Nutrition, Chap 7, pp132 (p10). Viewed 14 January 2014 BATES Collage 2014, 2 Andrews Road Lewiston, ME 04240. Viewed 14 January 2014 Better Health Channel, July 2013, Victorian Government, viewed 15 January 2014 Collins, Dainca, 2011, UNDERGROUND HEALTH REPORTER, viewed 15 January 2014 Crigger, N.J. 2009, PUBMED, US National Library of Medicine, viewed 14 January 2014 http://www.ncbi.nlm.nih.gov/pubmed/19671650 Diet Choices, 2014, Diet Choices, Las Vegas NV, USA, viewed 15 January 2014 < http://dietchoices.com/diet-plans/hunza-diet/> Dr Rosalie McCauley, Department of Agriculture and Food, WA, viewed 10 January 2014 Fortuna, J. Department of Health Science, CALIFORNIA STATE UNIVERSITY, viewed 10 January 2014 Hodgekiss, Anna, U.S. Daily Mail, viewed 14 January 2014 Huda, About.com, 2009. Viewed 15 January 2014 Hungerford, Dr Carole, 2008, Good health in the 21st century, Revised Edition, Scribe, Victoria Korea.net, 2010, viewed 11 January 2014 http://www.korea.net/Government/Current-Affairs/Others?affairId=168 Larner, Christina, Body and Soul, viewed 15 January 2014 Osher Centre for Integrative Medicine, University of California, 2012, CA, USA, viewed 17 Jan 2014 Potatoes South Australia, 2013, Elder House, Adelaide, SA, viewed 15 January 2014 Reinhard, Tonia, (2010), SUPERFOODS The Healthiest Foods on the Planet, Cove Press, NSW Roininen, Katariina, 2001, Evaluation of food choice behaviour: Development and Validation of health and taste attitude scales, visited 15 January 2014 Schofield, Lisa, 09 Sep 2013, Nutraceuticals World, viewed 17 January 2014 The Chemical Generation 2001, Viewed 14 January 2014 The Chemical Generation 2001, Viewed 14 January 2014 Trichopoula, A. 2000, PUBMED, US National Library of Medicine, viewed 14 January 2014 Whitney, E and Rolfes, S. Understanding Nutrition 13th Edition, 2013, Wadsworth USA

Nec Electronics Corporation (Nece) Case Study Essay

INTRODUCTION In early July 2007, the New York based hedge fund Perry Capital proposed to raise its stake in NEC Electronics Corporation (NECE), the then publicly listed subsidiary of Japanese conglomerate, NEC Corporation, from 4.8 percent to 25 percent. The offering was  ¥5,000 a share, at about 60 percent premium. Perry’s investment in NECE traced back to late 2005, the year its first exposure to Asian markets, with the initial investment cost at around  ¥3,200 a share. Perry believed the intrinsic value of NECE was to release after restructuring its business strategy, albeit NECE was expected a loss in FY2005. This paper studies the investment of Perry Capital in NECE, and particularly looks at Perry’s consideration to increase its stake in NECE to 25% at that time. INVESTMENT OPPORTUNITIES IN JAPAN As shown in Exhibit 1, the long-lasting deflationary Japanese economy since 1997 probably comes to an end with its CPI rebounded from negative in 2006. At the same time, Bank of Japan has loosed its monetary policy by raising the interest rate above zero since 2006. These two data suggest that Japanese economy is pending an exit from the lost decade. Looking at the Nikkei 225 index shown in Exhibit 2, the bullish trend since 2003 shows the investors are optimistic towards companies’ future earnings. The improving market sentiment stems from the amelioration of Japanese economy, with its GDP growth rate has become positive since 2000, as shown in Exhibit 3. Moreover, Japan’s export industries have been performing well due to its weak currency. Perry’s investment in NECE can be a sensible move as Japan is one of the leading countries in producing innovative technological products. In 2007, Japanese high-tech products secure a significant market share in the world. These industries include automobile, IT, communications, mechanism and robot, new materials, etc. In addition, Japanese firms allocate significant amount of resources in their product R&D area, the efforts paid in improving product quality and promoting innovation enhance Japanese firms’ competitive strength overtime. Essentially, Perry’s investment philosophy is looking at the fundamental of the company, building good relationship with the management, investing in good company, and possibly keeping its portfolio beta at a considerably low level. As Perry’s portfolio has been performing well since its inception, the venture into Japanese market is compliant with its investment strategy, where stocks in Japanese market produce reliable streams of cash flow, and more importantly, there are valuable cheap stocks to pick in Japanese market, these characteristics are aligned to Perry’s taste. CHALLENGES TO INVEST IN JAPAN The first time venture suggests Perry is novel to the Japanese market. As the probability of success of Perry’s investment in NECE highly depends on the assumption made to restructure NECE’s business division, Perry must convince the parent company NEC to share its vision. Agency problem would be a potential challenge for Perry to maintain a good relationship with NEC. As the subsidiary will become a separate entity from its parent company upon listing, it is questionable whether the parent company will longer treat the two different entities equivalently. For instance, will the parent company shift the loss-making divisions to its subsidiary, which then can help the parent company to get rid of loss at the expense of its subsidiary’s financial report? Furthermore, Japan’s system of corporate governance is said lacks of effective protection to minority shareholders. Controlling shareholders in Japan are not required to prove that their dealings with the company are fair, and self-dealing is not formally defined by law. Furthermore, in Japanese model of stakeholder capitalism, management could be entrusted to safeguard the interest of a range of key shareholders, rather than focusing more narrowly on maximizing returns to shareholders, which might weaken minority shareholders’ power in deciding an important issue. FUNDAMENTAL VALUE OF NEC ELETRONICS CORPORATION Perry team made a few assumptions to evaluate NECE in early 2006. Since the exact date of evaluation is not clearly stated in the case, we will first evaluate NECE at 2007 based on the assumptions made and then apply the same methodology to other years. Team Perry used an approach that employed EBITDA multiples for each segment: MCU, CCD and Communications. We use the information from exhibit 7 and exhibit 8 to infer the fundamental value from 2004 to 2007 and future. We then make inference on value of NECE based on 03/2006 and 03/2007 values. Note that information from exhibit 6 and 8 are from 2007. Fundamental Value of NECE at 03/2007 Assumptions used in valuing MCU division: I. MCU is able to match the average EBIT margins of comparable firms, which is 17.70%. II. 15% of the  ¥83 billion depreciation cost is attributed to MCU for the next few years. III. A conservative approach of 9 times EBITDA multiples is used. Assumptions used in valuing CCD division: I. EBIT margins of the remaining business are 5%. II. 45% of the  ¥83 billion depreciation cost is attributed to MCU for the next few years. III. 7 times of the EBITDA multiples is used. Assumptions used in valuing communications division: I. EBIT margins could be negative. II. To avoid loss, exiting this line is an attractive option. III. Estimated cost of exit at most  ¥100 billion. The fundamental value of NECE on 03/2007 is the summation of each division’s fundamental value: Note that the Fundamental value is higher from year 2005 to 2007 except year 2004. EVALUATION ON ASSUMPTIONS USED The first assumption expects MCU would be able to match the EBIT margins of comparable firms. However, there is a large dispersion in the EBIT margins among the comparable firms. The large difference of EBIT margins between the comparable firms could suggests that the cost differentials are significant among these firms. Indeed, the uneven distribution of EBIT margins among comparable firms could also because of the small number of sample size used, which in turn soften the estimation power of this assumption. The second assumption is to give the CCD EBIT margins of 5%. However, as the average EBIT margins of the comparable firms is around 16%, with the range between 7.3% to 42.3%, Ercil’s might probably be too conservative than he should in valuing the CCD segment in NECE. Moreover, Ercil also assumes that he will be able to exit the communication segment at a cost less than 100b which is again a conservative estimation as mentioned in the case. Given the above these assumptions made by Ercil, it seems that he is a conservative investor who prefers to take conservative valuation in his investment discretion. Though his conservatism might make the estimated NECE fair value become less attractive, his prudent investment strategy could probably in turn safeguard his clients’ money in any unfavorable event. Below shows some assumptions made by Ercil that are reasonable. First, instead of using 11x EBITDA multiples to value NECE’s MCU segment, Ercil used a lower of 9x EBITDA multiples. This assumption is definitely acceptable as it is in line with Perry team’s prudent investment strategy. In addition, the depreciation cost allocation made by Ercil seems reasonable. Ercil allocated 45% of depreciation cost into the communications segment, as there was a significant amount of capex used to build the plant in Yamagata in the recent past. Based on Ercil’s assumptions we manage to breakdown NECE balance sheets based on its divisions. This activity illustrates that the EBIT margin estimates are consistent with exhibit 8 and has no mathematical or financial discrepancies in terms of amount allocated to each sectors. EBIT margin for communications segment is indeed negative for year 2007 based on Ercil’s assumption. We observe high expense in communications area possibly due to expropriation of NECE by its parent company, NECE that will be discussed below. POTENTIAL AGENCY PROBLEM ON NECE’s MARKET VALUE Our case analysis assumes that market is efficient, implicating that outsider anticipate potential agency problem within NECE. Besides demanding fair return on their capital, controlling shareholders should ultimately bear all agency costs they create. This is consistent with the journal â€Å"Agency Costs, Mispricing and Ownership Structure† by Sergey, Fritz and Greenwood (Sergey Chernenko, 2010), whereby the case of NECE is used to illustrate the impact of agency cost on market value. Agency problems in subsidiary-parent relationships could stem from 3 scenarios: I. Related party transactions: Based on the journal, following NECE listing in 2003, the development of microchips for NEC’s phone brought in excessively high capital expenditures and research and development expenses to NECE. Following it was the low transfer prices to the parent company, NEC. This is due to the weak fiduciaries duties law on company in the interest of minority shareholders. II. Usurped business opportunities: Indirect influence of parent company on their subsidiaries such as continuing a business venture that profits the parent despite the subsidiaries making losses make it hard to be detected. In particular, NECE incurred excessive R&D cost and capital expenditures to enhance NEC competitive position in the market. III. Minority squeeze outs- Cash-out merger is an example of minority investors being squeezed out. NEC bought back NEC System Technologies 20 months after listing it, evidently showing NEC’s involvement in this form of related party transaction. Based on the journal’s samples, Investors who bought the subsidiaries share upon listing sold their shares back to the parent during repurchase at a loss of 39% to 71%. Therefore, in perfectly efficient market, minority shareholders fully anticipate agency problems. If controlling shareholder is expected to divert resources, the market will price the equity accordingly (lower) than in the scenario where agency problem is absent. One caveat is that, investors might not be fully informed (market is not totally efficient) that in turn creating incentive for agency problems. PROSPECTS OF NECE The fundamental value of NECE is severely undervalued compared to its market value in 2007; this might be due to the agency problem that persisted between NEC-NECE. We conclude that NECE is a potential lucrative investment if Ercil is able to remove the communications segment and thereby removing the potential agency problem in NECE. Nevertheless, the reluctance of NEC to remove the communications segment and the weak protection of minority interest in Japan cast shadow on the prospects on NECE. Worsening the situation, NECE was nearly delisted in 2007, implying that liquidity could have drastically decreased. Note that also the MCU and Other Divisions remains relative stable (slight increase) over the projection years. Historical Performance of Publicly Listed Subsidiaries of Parents in Japan Our findings are consistent with the data given in Exhibit 4. If market is efficient, the incentives for parent company to list its subsidiaries arise either when the market value of subsidiaries is overpriced upon listing or if the parent company’s internal capital is inadequate to fund attractive investment opportunities. In the case NECE, the former scenarios seem to be more plausible as according to the graph above. This could lead to drop in future market performance as market absorbs more information. Source: http://www.nber.org/papers/w15910 According to Fritz (2010), the negative performance of listed subsidiaries over the first 36 months following IPO can be seen via industry adjusted returns of -6.2%,-13.43% and -13.98% over the one-,two- and three year horizons after IPO. This is again consistent with the case of NECE. Both subsidiaries with ex ante scope for agency problem (such as sales relationship) and those where parent has retained little equity despite substantial control over its subsidiaries illustrated poorer performance. On top of that, a great portion of listed subsidiaries were subsequently repurchased by their parent at a discount to the IPO price. The historical performance of publicly listed subsidiaries of parents is consistent with the case of NECE. In this case, NEC hold 20% of NECE total equity but have significant control over NECE operations and sales. This leads to expropriation of minority shareholders and lower market price following IPO. A FEASIBLE STRATEGY FOR PERRY TEAM There are three options for Perry team: to increase its stake in NECE with the expectation that NEC management will eventually share Perry’s vision to dispose the communications segment; to arrange for possible merger and acquisition for NECE; to exit the investment in NECE. To consider the action on the $150 million position in NECE, Ercil is likely to expect the maximum likelihood among these three scenarios. The first option is essentially the proposed increasing stake in NECE by Perry in the case. However, this move requires substantial amount of capital to fund the investment; the investment does not necessarily realize Perry’s objective to dispose NECE’s communications division as NEC will still be the largest shareholder in NECE. Since the investment in NECE in 2006, Perry team has been approaching NEC and asking for NECE business restructuring, the two parties have yet reached a consensus about the issue. It seems that NEC executives are unlikely to change their position in the future as well. The second option is to create a proxy fight for possible takeover or merger of NECE. The biggest impediment in this strategy is the same as the first strategy – the parent company NEC is holding a controlling amount of 70 percent stake its subsidiary, proxy fight might be too costly to execute. Furthermore, it is generally believed this strategy is far from reality because a hostile acquisition for NECE would significantly destroy the business relationship between the acquirer firm and the giant conglomerate, NEC. In addition, it is the time where Tokyo Stock Exchange is placing NECE on a watchlist for possible delisting due to its concentrated ownership structure. For Perry team, unwinding the 5 percent stake (or more if either option 1 or option 2 is adopted) in NECE would mean more difficult after delisting. Perry needs to find a potential buyer for the whole or portion its holdings in NECE. Exit strategy implies to realize the loss in this investment. Suppose Perry bought NECE stocks at an average price of  ¥3,200 per share, NECE share price is around  ¥2,900 per share in July 2007, which means Perry will record a loss of about 10 percent in its investment in NECE. As NECE has been recorded loss during Perry’s investment period, this small 10 percent loss may in turn support the immediate exit strategy, so as to minimize the loss because NECE’s business prospects are full of uncertainties. SCREENING GLOBAL ECONOMIC CONDITION Before making the final decision among the above three options, Ercil will definitely examine the current global economic condition. Generally speaking, if the global market sentiment is positive, it may worth for a riskier investment strategy to seek for higher return. On the contrary, higher return investment securities such as equities markets are usually too risky to attract capital inflow. As government bonds are deemed safe haven for investors, bonds yield curve can give some signal about the likelihood of future economic condition. Ercil examine the U.S. government bonds yield curves and TED spread at that time. It is observed that the T-bills have begun to deviate downward from T-bonds since Q1/2007 (Exhibit 5). Soon after July 2007, TED spread begins to rise (Exhibit 6). The declining short term T-bills yield suggests the investors become cautious and allocate their money in the bonds market. The increasing TED spread may infer the condition of liquidity shortage in the market, where lenders require higher returns for lending out their money. According to bonds yield equation: Forward Rate=Expected Discount Rate Tomorrow+Liquidity Premium As TED spread implies liquidity premium becomes dearer, the declining T-bills yield is attributed to the expected fall in future interest rate in the U.S. market. Simply saying, market anticipates a loosening monetary policy adopted by the Federal Reserve. RECOVER LOSS: JPY/USD EXCHANGE RATE INCREASE While the exit strategy might be a better move after looking at global market sentiment, Ercil will consider whether he should immediately convert the JPY to USD. As exchange rate movement is closely related to interest rate movement between two countries, it is observed that Japan’s interest rate is at 0.50% (Figure 1) while U.S. interest rate is around 5% (Exhibit 7). The huge differential between the two countries interest rate infers the potential gain from going against USD. In addition, given the interest rate parity condition in Forex market, the expected decrease in U.S. interest rate (as the declining yields curves suggest) will probably result in the appreciation of JPY against USD, as shown in Figure 8. In conclusion, if there could be a potential gain from holding JPY against USD, which can in turn recover some of the loss from Perry’s investment in NECE. By holding JPY, Ercil probably can go for his conservative investment strategy by buying fixed income securities, gold and other safer investment assets, or just holding cash. If JPY/USD does not perform as what Ercil predicted, he will only face one side risk (the continual increase in U.S. interest rate that further pumps up USD/JPY) but is protected from the continual decline of JPY (as Japan’s interest rate is near zero that means Bank of Japan is effectively powerless in pushing down its interest rate).