U.S. Dollar Exchange Rate And Oil Price

Both U.S. Dollar exchange rate and the oil monetary value are foremost variables which coerce the patterned advance of the universe economic system. Fluctuations in these variables deeply affect international trade and economic activities in all the states. Determination of the nexus between these cardinal variables is one of the critical issues, whether they are correlated or non. Is at that place any empirical grounds on the nexus between the variables? In this literature, I initiate by appraising all theoretical grounds that could clarify the relationship between U.S. Dollar exchange rate and oil monetary values. To get down with, as oil monetary value and oil trade is denominated in United State ‘s Dollars, motions in the effectual exchange rate of U.S. Dollar impact the monetary value of oil as alleged by all states outside United States. Therefore, fluctuation in the dollar exchange rate can arouse alterations in demand and supply of oil, which cause alterations in the oil monetary value. Second, the opposite tendency can besides be found, i.e. , oil monetary value fluctuation trigger alterations in effectual exchange rate. The ground can be found in the literatures on the effectual exchange rates. In the theoretical account proposed by Farquee ( 1995 ) , if a state stocks foreign assets, its effectual exchange rate appreciates and this motion occurs without hindering its current history balances. This is due to the ground that capital income absorbs the loss in trade grosss induced by the deteriorated fight. Change in oil monetary value affects all the universe instabilities and this induced alteration in international assets may hold an impact on effectual exchange rates of different states of the universe. Last but non the least, I take aggregation of different portfolio theoretical accounts, most significantly the 1s by Golub ( 1983 ) and Krugman ( 1983a ) which are developed to account for trade and fiscal interactions such as assistance and grants between United States, oil manufacturer states and the remainder of the universe particularly Europe. The comprehensive study of theoretical and empirical interactions between the two cardinal variables opens the manner for every possible nexus between the two variables either negative, positive and in both waies of causality. If there are some theoretical grounds for every possible nexus, so one has to be stronger than others. Therefore, the inquiry is to unknot the alternate theoretical account by facing to the informations. I hence, conduct an empirical survey of the relationship between dollar existent effectual exchange rate and the oil monetary values over the period straddling from 2007 to till day of the month. Prime focal point is on the long term relationship between these two vital variables. Among the possible account reviewed, the one affecting the equilibrium exchange rate is the exclusive account which fit the found relationship. The possible continuance of a long-run relationship between the dollar effectual exchange rate and oil monetary value assume causality between these variables. Earlier surveies show a causality way from oil monetary values to the U.S. dollar ( Amano and van Norden, 1995 among others ) . However, there are some statements which justify opposite way of causality i.e. , from U.S dollar to the oil monetary value. In this literature, I study the two types of causality and seek to measure the resulting of the relationship which determines the tendency of motion. The effectual dollar exchange rate has significant impact on the demand and supply of oil since it had influence on the monetary value of oil. The depreciation in the dollar reduces the monetary value of oil in the local markets of the states holding their several currencies under drifting exchange rate like Japan or Euro Zone. The states which have pegged their currency with the dollar have impersonal affect such as China. Generally, a lessening in the dollar exchange rate reduces the oil monetary value in the local markets of the consumer states. The lessening in monetary value of oil finally increases the demand for oil monetary value. This can be stated that dollar depreciation has positive impact on demand for oil and this addition demand contributes towards the rise in the monetary value of the oil. Oil companies use local currencies of manufacturer currencies to pay the fiscal liabilities and current fiscal duties such as rewards, revenue enhancements and other runing cost. These currencies are frequently linked or pegged to the dollar due to the fact that they fall in fixed-exchange rate governments adopted by most manufacturer states ( Frankel, 2003 ) . The alterations in monetary value of oil due to the alteration in the dollar exchange rate is less as estimated by the manufacturer states than estimated by the demander or consumer states. Necessary boring activities are linked straight to the oil monetary value. When oil monetary value addition, oil production besides addition by the manufacturer states to gain extra net incomes. This fact has been proved by different empirical surveies in states like North America, Latin American and Middle East. But this fact has non been proved true for African and European states. It is of import to that the relationship between boring a ctivities and oil monetary value in dollars has well changed since 1999. But it is difficult to happen that whether this alteration occur due to the debut of Euro currency in 1999 or due to the decrease in oil monetary value in 1998. Depreciation in the dollar monetary value novices rising prices ensuing decrease in the income of oil manufacturer states, the currencies which are pegged to the dollar. All the states are non affected in the say manner, states which mostly import from USA like OPEC is less affected than states than states which imports from Europe or Asia. Overall, depreciation in the dollar monetary value may cut down the supply of oil. On the short tally, supply is less or decrepit elastic to the monetary value in upward and downward way. The upward weak flexibleness is due to the production restraint and the downward flexibleness is weak due to really little fringy cost. Demand is besides inelastic in the short tally due to the deficiency of replacements available in the short tally ( Carnot and Hagege, 2004 ) . In short, demand and supply of oil in short is about inelastic in the short tally. Noticeable alterations in the supply and demand are chiefly discernible on the long term period. At this phase supply is more elastic due to the capableness of new investing and demand is more elastic due to the handiness of close replacements. By and large, a dollar effectual exchange rate depreciation cause an addition in the demand and supply of the oil significantly merely in the long tally, which tends to increase oil monetary value. The early old ages of 2000 ‘s period are an first-class illustration of this mechanism. Hagege and Carnot ( 2004 ) underlined that the addition in oil monetary values stems from two coincident factors on the one manus, incorrect appraisal of utmost demand for oil from United States and China. On the other manus, decreasing investing in the oil sector causes stagnancy in the capacity sweetening of oil supply. If this mechanism of demand and supply can right explicate the state of affairs of 2000s so this mechanism is unable to account for the relationship found in different empirical surveies. There are several groundss and grounds to believe that oil monetary value could impact dollar effectual exchange rate. Most frequent account of this impact that oil bring forthing states prefer fiscal investing in dollars ( Amano & A ; van Norden, 1993 & A ; 1995 ) . This model, explains that a haste in the oil monetary value boot the wealth of the oil manufacturer states which in bend addition the demand for dollar. Another account of this impact of oil monetary value on exchange rate can be found in the theoretical accounts such as Farguee ( 1995 ) and BEER theoretical account proposed by McDonald and Clark ( 1998 ) . In this attack, two independent variables are often used for explicating the exchange rate i.e. , net foreign investing and the footings of trade. A speedy initial concluding leads to a negative relation between oil monetary value and the dollar exchange rate. Addition in oil monetary value should deteriorate the United States footings of trade which consequences in t he dollar monetary value depreciation. A more comprehensive account would let explicating the positive relationship normally found in the literature by taking in history the comparative consequence on the United States compared to its trade spouses. If United States is an of import oil importer, an oil monetary value addition can deteriorate its state of affairs, nevertheless, if US import less than some other states like Japan or Euro zone, its place may good better compared to the other states. In this state of affairs, addition in the oil monetary value would take to the grasp in the dollar monetary value comparatively to the hankering and the euro, finally it leads to grasp in effectual footings in dollar. In an attack proposed by Krugman ( 1983a ) uses a vivacious symmetricalness of model to pattern how manufacturer states use the gross of their oil exports in dollars. Change in demand for dollar will impact the dollar exchange rate. The proposed theoretical account can be expressed mathematically as:Ten = CYWhere Ten = Oil monetary value denominated in dollar Y = Effective exchange rate of dollar C = Correlation Co-efficient This theoretical accounts help to find the correlativity between the oil monetary value and the effectual dollar exchange rate, either it is positive, negative or impersonal. This theoretical account besides explains the short term and long term impact of oil monetary value on the effectual exchange rate of the dollar and frailty versa. This empirical survey use monthly informations of oil monetary value denominated in the U.S dollar. Oil monetary values are expressed in existent footings and the exchange rate of dollar is effectual exchange rate. This survey tests the hypothesis at 5 % degree of significance. Hypothesis to be tested is as follows: Ho = There is a no correlativity between the oil monetary value and effectual exchange rate of dollar H1 = There is a correlativity between the two variables. Ho = There is a negative correlativity between the two variables H1 = There is positive correlativity between the oil monetary value and effectual exchange rate Above hypothesis are tested by Spearman rank correlativity utilizing SPSS, renowned statistical package. Data for this variable is collected through different beginnings such as Central Bank of Germany, Data Stream and Economagic which maintain the monthly norm informations of oil monetary value, effectual exchange rate and international gold monetary values. Sample size is of 42 values from each class. Oil monetary values and gold monetary values are denominated in the US dollar. Apparent observation of the natural information indicates the positive relation between oil monetary value and effectual dollar exchange rate.TestingThe testing of the hypothesis is done through SPSS v.16. Econometric technique of Spearman Rank Correlation is applied as it falls in the categorization of non-parametric trial. The consequences of econometric analysis shows that there is a medium positive correlativity between the oil monetary value and effectual exchange rate of dollar as co-efficient of correlativity is 0.316 which means that 1 dollar or 1 percent addition in oil monetary value will increase 0.316 % in the effectual dollar exchange rate. The oil monetary values show more variableness as compared to the exchange rate. The graphical presentation of the original information is as follows:Graphic Presentation of Oil Price and Exchange RateAbove graph shows a general positive tendency between the two variables over the period crossing from January 2007 to October 2010. The graph besides reveals greater variableness in the oil monetary value and less in the exchange rate. The variables are assigned as OP referred to oil monetary value and ER referred to effectual exchange rate of US dollar. The tabulated consequences show that there is a somewhat negative correlativity between the oil monetary value and gold rate. If oil monetary value addition by 1 % gold monetary value will diminish by 0.05 per centum under the influence of oil monetary value. The graphical presentation of the original values of oil monetary value and gold rate are as follows: The tabulated consequences show that there is little positive correlativity between the gold rate and the oil monetary value which means that 1 % addition in the exchange rate gives 0.085 % addition in the gold rate. The graphical presentation of the original informations of gilded monetary value and the exchange rate is follows:DecisionIn this literature, I have tried to happen the nexus between the US dollar effectual exchange rate and existent oil monetary values. Overall this survey focal point on merely the US dollar effectual exchange rate and existent oil monetary values but subsequently one other critical factor besides included in the theoretical account which helps to happen the corresponding dealingss between the variables. This survey shows that there is a important relation between the existent oil monetary values and the effectual exchange rate. In the short tally, consequences may be reverse but in the long tally consequences are in support of earlier surveies, which c oncluded that there is positive relationship between the exchange rate and the effectual dollar exchange rate. The fluctuation in the oil monetary value is far more intense than the fluctuation in the oil monetary value. This phenomenon is evident through the tested results and the besides in the graphical presentation. The adjustment velocity of effectual exchange rate is less than the oil monetary value. Results besides reveal that addition in the oil monetary value will increase the net foreign assets of the United States of America. The states whose currency is pegged to the US dollar will endure less with the addition in the oil monetary value and those states who falls in the floating exchange rate is affected more. The consequences besides reveals the of import fact, which is that the United States of America is basking the benefits of low monetary value and cheapest oil based energy over the period of more than half century as oil monetary value is denominated and traded worldwide in the US dollar. The addition in the oil monetary value will increase the demand for more US dollars to purchase the same quantum of oil and this increased demand will impact the exchange rate of the state with regard to the US dollar and this addition the import measure of the several consumer states and the manufacturer states will bask the benefits of more wealth.

Neo-Confucianism

Hart Benton Dr. Levey HI/Hon 282 26 November 2010 Neo-Confucian History and its Application to Government Neo-Confucianism arose in China during the Song Dynasty as a vehicle to reapply Confucian teachings and morality to an era in which Buddhist and Daoist followers were all but competing with Confucianism. Such competition found Confucianism becoming more and more related to the state as an official religion, reducing the true existence of Confucianism as predicated by Kung T’zu’s own canonical texts.The revival of Confucian thought during this dynasty lead for replacement of a militaristically centered society academia and cultural achievements, changing the view of Chinese history and the historian as well as leadership in the government as both began to take on the characteristics of Confucian practices such as The Way. The transformation of the view of history was radical at best. The overall essence of history was questioned as notable historians such as Lu Zuqia n and Zhen Qiao professed the correct way of viewing history to be to view history as a continuous stream as opposed to solitary confined moments in time.Lu notes that history must be viewed as the continued record of organic growth and change in Lu Donglai wenji. Zheng Qiao claims that Confucius’ credibility as a notable sage lie in his ability to view history as an entirety and the stream that makes it up as opposed to Ban Gu who compartmentalized history by narrowing on one topic, or as he literally puts it in Tongzhi, â€Å"Ban Gu wrote the history of only one dynasty, this principle of continuity has been ignored. †Another way that history became molded to the form of Confucianism was in its application. The application of history could be noted as a two- way process, one being the application of the past to see the present and thereby stimulating intellectual growth as well as practicability, and the other being that history provides morals of conducts for the hi storian. The latter has a greater sense of Confucian character in that the process of being provided the conducts of morality involves the historian to mentally ut himself into the actual situation, apply the context of the day, and imagine to face these facts and come to a conclusions. This, Lu Zuqian says, is the way â€Å"you will get real profit from your reading. † A sense of morality was also applied to the role of history in, quite literally, the beginning of the history. The words of an emperor were recorded in the Song Dynasty immediately at the moment, lending the historiographer to record the entirety of the emperor’s words, both the good and bad.In Zizhi tongjian, Sima Guang writes: The emperor said, â€Å"If I do something that is not good, do you then also record it? † Suilian replied, â€Å"My office is to wield the brush. How could I dare not record it? † The Gentleman of the Yellow Gate Liu Ji added, â€Å"Even if Suilang failed to recor d it, everyone else in the empire would† Zizhi tongjian The necessary morality of the emperors in their actions transcended itself through the historiographer’s recording and into the text and finally into the readers.Such a direct relationship between published and actual history manifests itself in the image of history as a mirror in this neo- Confucian era. The image is used in several ways: one being that upon looking in a mirror, everything is completely visible including any flaw or blemish. As Liu Zhiji states, â€Å"When a clear mirror reflects objects, beauty and ugliness are bound to be revealed. † It is the job of the historian to present a clean mirror, and as Zhiji also notes, â€Å"celebrate the good, censure the evil, and control the powerful† in doing so.The second way that the neo-Confucian role of history should resemble a mirror is that any government official, leader, statesman, or ruler should be able to look into the mirror and in the reflection make a value judgment and discover a truth about the issues in their day. Herein lays they connection between governmental leadership and history. Perhaps no Chinese Song historian better notes the close connection between history and government than Sima Guang in his 294-chapter work, Zizhi tongjian, or Comprehensive Mirror in Aid of Governance.Using this same metaphor of the mirror, Guang strikes on the fact of history becoming a predominantly political history and attaining an almost entirely political purpose. Just as part of Neo-Confucianism’s role in history relayed the essence of The Way in its acquiescence and practice, the same holds true for government policy. Cheng Yi memorializes an appeal for the Confucian Way to be adapted as a foundation for Chinese governmental policy implementation and return rule to scholars and sage kings as opposed to leaders focusing more on the role of the military as was evident in pre-Song dynasties.In the adaption of the W ay to government policy, Cheng Hao took a more pragmatic Confucian stance on reform of government in association with the Way in that laws should â€Å"change according to the times and be embodied in systems that suited the conditions in obtaining each. † In other words, let not the policies of the day digress to blanketing an entire spectrum disregarding of context and situational prowess, but rather cater the policy to where it fits in with the Way of the day by allowing the policy to follow in itself the Way.The emergence of Neo-Confucianism brought with it a change in the view of the development of history, application of history, and the role of the historian as history overall began to follow the role of the Way and morality throughout the Song Dynasty. With this shift in the role of history came the shift in role of government policy. As history became more politically applicable with the â€Å"history as a mirror† metaphor, government followed the role of hist ory and it too began to follow The Way in its practice and usage as a moral system.

Corn Coffee Essay

Corn ranks second to rice, not only in terms of area devoted to its production but it has been a staple food of about 20% of the total population of the Filipinos. Aside from this, the green corn, boiled or roasted, is a popular snack food and may also be cooked a vegetable or soup. Other by-products of corn include corn flour and syrup, sugar and oil. In terms of nutritive value, corn is richer source of vitamin A than polished rice. It contains high amounts of minerals such as calcium and phosphorous. Moreover, it is also a source of starch derivatives for oil, fibers and other industrial uses. Corn is raised as source of food and food products for people, livestock feed, and industrial products including ceramics, explosives, construction materials, metal molds, paints, paper goods, textiles, industrial alcohols, and ethanol. Corn is now also used to produce a healthy coffee as people nowadays are health conscious. Since corn coffee was introduced in the Manila market by the farmers of Sumilao, Bukidnon, further study about corn coffee in Region III (Central Luzon) was made since corn is abundant on the said region. Distribution of questionnaires and analysis activities conducted to determine the frequency distribution of corn coffee in the market because this is not the first to introduce corn coffee in the Philippine market especially in Manila. On the data gathered, 98% of the respondents are coffee drinkers, majority of them are young professionals, 91% of them have no knowledge about corn coffee, 88% are willing to try corn coffee and 22% have no idea what would corn coffee would taste like. With this data, Le Maiz come up on marketing strategies how to introduce and expand the corn coffee market in Region III and NCR. Corn Cafe is an alternative to coffee beans that is rich in nutrients that coffee beans can not provide. The company’s objective is to fit in and adapt to the people’s taste and preferences as well as offering diverse kinds of nutritious products. Effective marketing program and strategy would be made in order to meet the established objective. The marketing strategies will consist of flyers, radio and newspaper advertisements, trade fairs, vis-a-vis contact with customers. 10% of the gross sale will be allocated on marketing the product. On technical aspect, the production of corn coffee is simple, healthy and all natural that it has only one ingredient, which is the corn alone, no additives and a healthy alternative of drinking coffee. Preparation of corn before roasting is the first step in making our product, roasting, grinding/ pulverizing are the main activities in making corn coffee. Packaging and putting into the storage were done before putting on the distribution channel like our selling area, inner-retail coffee stands as well as supermarkets within our designated market. On this study, corn coffee production started January 2011. Corn was purchased at the average of Php15 per kilo. The sum of 15,600 kilograms of Corn were purchased during 2011 while on 2012 to 2015, 12,480 kilograms of corn were purchased. Also, part of Raw Materials inventories are Packaging Slip and Sticker. 60,000 pcs. were purchased respectively. Around 1% has incurred in transportation cost and other miscellaneous expense. Purchases Return and Allowances is expected to be 1% of Gross Purchases while Purchase Discount will be 2% Net of Freight In. The production of coffee is continuous process thus leaving no goods in progress beginning or ending. This is in line with company’s policy to keep the product fresh and all natural. Sales Return and Allowances is expected to be 1% of Gross Sales. Sales Discount of 2% is given to cash buyers but only 5% of Gross Sales will avail the discount. Operating expenses is divided into 2 category; Distribution Cost and Administrative Cost. For Distribution cost for 2011( % of Gross Sales ); Traveling 1%, Advertising 5%, Delivery 10% and Depreciation expense based on Straight Line Depreciation of 5yrs. For Administrative cost ( % of Gross Sales ); Officers’ Salaries, 3 partners assumed as managing partners with annual salary of 96,000. 00 each. The Pre-operating cost Php 9,454. 00 has been incurred which include DTI registration, Dole registration, BIR Fee, SSS registration, Police Clearance, Barangay Clearance and Business Permit issued by Tarlac City Hall. Office supplies is 10%, Depreciation Expense ( Straight Line Depreciation of 5 yrs. ), Lease Payment ( 40% to Administration ), other expenses is 1%. On socio-economic aspect, we have shown the significance of our business and its contributions to the society. Its share to community and to its people is to create employment and thus improving the standard of living of people in the community. It can also help the community development by way of paying taxes in the government. It is through taxes paid by businesses and individuals that the government funded its projects such as roads, bridges, and community development. Lowering of prices of competitors to compete with the product in order to maintain the customers. We could also help the people in community by utilizing local materials which is very abundant in the province. We can motivate farmers to grow corn and not just corn but corn of good quality. Our business can be the pride of our province since it’s inclined with the program of the Department of Trade and Industry which is the â€Å"One Town One Product†. Lastly, the Le Maiz proponents chose partnership as the form of organization. Aside from the six (6) partners, we will be hiring three (3) employees to help to produce and market the healthy and nutritious coffee. Le Maiz with a mission, to provide coffee drinkers quality products, quality service, affordable prices and a healthy lifestyle. Competent and responsible employees will be hired for the success of the company. The company shall also continue working for innovative and efficient ways of achieving the company’s goals. The company’s vision are to be number one (1) corn coffee in the Philippines; to expand not only in Central Luzon and NCR but throughout the country as well; to build own production and distribution facilities and to adopt new technologies and methodologies. The company decided a hierarchical type of organizational chart. The capitalist partners will act as the general manager and three of the six (6) partners will be managing partners whom will receive monthly salary as well as the three (3) employees. On Administrative Department, the Administrative Officer/ Purchasing Officer will be the crucial person in the organization, he assumes the full control on the organization’s activities and is responsible for all decisions undertaken by the organization, responsible in monitoring and managing the production of corn coffee, counter checks the financial position of the organization, handles all personnel and the daily business activities, purchase ordered and will deliver on time to the production area and hold the budget for purchases of raw materials and shall provide summary or report of the used and unused funds. On Sales Department, the Marketing Officer/ Salesperson is responsible for the all related selling activities, product development, packaging, proposes new ideas for improvement and replacement, communicating with suppliers of materials and know the current trend in the market. For the Inventory Officer, he is responsible in listing down sales, the used materials and finished products. Must be alert, with good communication skills, trustworthy and diligent. The three (3) employees that will work for the company were the Machine Operator, responsible on the control of the machine in producing corn coffee, Packager, for packaging of the finished products and Delivery Man, he will act as the driver and responsible in delivering the finished products to our target markets.

International Business- Airbus versus Boeing - When is Intervention Essay

International Business- Airbus versus Boeing - When is Intervention Not Intervention - Essay Example or any public body are prohibited. Again according to Article III: 4 of GATT 1994, certain favourable taxation policies are prohibited. (PÃ ©rez A. F., January 2008). Despite SCM agreements under WTO, there have been innumerable cases of dispute of violation of these agreements (DISPUTE SETTLEMENT, January2009). All major trading & industrial countries and regions, namely US, EU, Brazil, China, India, etc have got into these imbroglios. Protectionist tendencies are evident in actions of various governments of the world, though sometimes it is done in the garb of ‘saving jobs’ or promoting ‘home grown companies’. A recent report by the World Bank specifies rising protectionist tendencies in 17 out of the 20 ‘G20’ nations. In the era of ‘Open trade’, the report mentions: These do not bode well for ‘Open Trade’, liberalization or the WTO. Economists predict that due to prevailing recession in the world economy, these tendencies would rise all across the globe & many governments might find it hard to follow the liberalized trade policies. ‘Trade without discrimination’ the general philosophy underlying WTO, is being distorted by these nations. During the 2nd world war, Boeing had received many lucrative contracts from the US Department of Defense. By the 1960s Boeing was a leading aircraft manufacturer of the world. By 1970 some European countries in order to challenge Boeing’s dominance put in ‘massive Govt. subsidies’ to form Airbus. After a period Spain & Britain joined with the founding member countries (of Airbus) France & Germany. Airbus received billions of dollars as soft loans and subsidies from these countries and also from EU. Ultimately for the first time in early 2000s, Airbus was able to surpass Boeing to become the world’s leading commercial Jet manufacturer, with greater annual sales revenue.

Accidents Resulting from Police High Speed Pursuits And Responses to Research Paper

Accidents Resulting from Police High Speed Pursuits And Responses to Emergency Calls - Research Paper Example In order to exploit the public interests in watching such risky chases by police officers, some television channels are currently telecasting such chases. However, it should be noted that many of these risky chases often end up in severe accidents. Both the offenders and the chasers suffer accidents and severe injuries because of high speed police pursuits. There are plenty of incidents in which lawsuits arise against the government and the police as a result of high speed police pursuits. There is a hot national debate ongoing concerning when, if at all, police should be involved in high-speed pursuits. One side says that police should use their discretion and should not terminate a chase merely because of an increased risk to the public. The opposite view is that by chasing an offender, the police magnify the risk of injury to the general public (Sanderson, n. d., p.2). It is difficult for the police to act as silent witnesses when people violate laws. The purpose of police force is to enforce the implementation of law and order in a society or country. This purpose will not be served if police officers remain idle when people violate law and order. At the same time, it is the duty of the police officers to catch or arrest the offenders in a safe manner. It should be noted that the risky chasing of the offenders may cause danger not only to the offender and the chasers but also to the innocent people. Accidents resulting from responses to emergency calls are also substantial in volume in America. It should be noted that the first hour immediately after the road accidents are critical in saving the lives of the injured people. In an attempt to reach the site as quickly as possible, traffic police often forced to drive their vehicle in high speeds. These high speed driving often end up in unexpected accidents in which both the police and the innocent people suffer injuries or death. In short, unintentional or unexpected accidents due to high speed police pursuits and responses to emergency calls are growing day by day in America and different lawsuits are arising as a result of that. This paper analyses the legal dimensions of accidents caused by high speed police pursuits and responses to emergency calls. Review of Literature â€Å"Police pursuits contribute to traffic violation, loss of officers, and death or injury of innocent people. According to a study by Jeff Martin, fleeing suspects create tragedies despite the efforts to terminate pursuits† (Schultz et al., 2010, p.1). Hoffmann & Mazerolle (2005) pointed out that â€Å"Police high-speed pursuits present a difficult area for police managers and policy makers because of the important need to balance public safety with the mandate to enforce laws† (Hoffmann & Mazerolle, 2005, p.530). Kaminski et al. (2012) argued that â€Å"in vast majority of pursuits, deputies and suspects were uninjured or sustained only minor injuries. In this regard, they do not appear to be any more hazardous than resistive encounters generally† (Kaminski et al., 2012, p.177). However, there are plenty of cases in which the suspects or the police suffer severe injuries and even death as a result of high speed police pursuit. John Hill (2002) pointed out that â€Å"police pursuits result in about 350 deaths per year and the number of pursuits increases each year. Moreover, about 2,500 persons die each year as a result of police pursuits and that another 55,000 are injured† (Hill, 2002, p.14-15). A study conducted by Rivara & Mack in 2004 to determine the motor vehicle crash deaths related to police pursuits yielded the

Executive Summary Research Paper Example | Topics and Well Written Essays - 500 words

Executive Summary - Research Paper Example Sonic healthcare shows an EV/EBITDA ratio of 9.86 for the next 12 months. This is higher than the median of its peer group: 8.31. The company valuation of sonic healthcare according to these metrics is above the market valuation of its peer group† (Sonic Healthcare market valuation multiples (AU000000SHL7 - ticker: SHL), 2010). Sonic healthcare is solely dedicated to diagnostic services primarily in the field of pathology and recently in the field of radiology. With the aim of becoming the largest diagnostic company in the world Sonic Healthcare has enlarged its operations to around seven other big countries other than Australia. . Problem: â€Å"Sonic Healthcare Ltd (ASX:SHL) has reported a 13 per cent drop in its first half net profit, and advised that full year profit is expected to fall at the lower end of its earlier guidance range† (Sonic Healthcare H1 profit drops, 2011). Owing to the regulatory issues in Australian pathology and the impacts of the recent severe w eather the expected profit of Sonic Healthcare for the 2011 financial year is reported to rest at 5 to 15 percent range. Solution: To solve the problems faced by Sonic Healthcare an amalgamation team has been set up as part of broader rationalization.

Discussion Assignment Example | Topics and Well Written Essays - 250 words - 26

Discussion - Assignment Example It is unfortunate that judges and other top government officials have personal immunity, which comes by professional courtesy and law. After one going through several blogs, one realizes that tyranny is greatly used as a strategy and the best example to illustrate this is the fact that Hamilton had tactics that worked with regard to tyranny. It is obvious that words are not sufficient and there must be true change in the United States of America when it comes to industrial espionage since the threat is not overblown. The main reason behind the US changing is the intelligent activity that the United States gathers foreign intelligence similar to that gathered by all nations globally. Being the superpower country, there must be some data protection, which can only happen with the help of changing the industrial espionage. Having data protection will be beneficial to almost every American citizen but mostly the leaders. Claims that America spies on other nations mean that the threat is not overblown but true change in industrial espionage will cover up

Business Law - Use of Contracts in E-commerce Assignment

Business Law - Use of Contracts in E-commerce - Assignment Example Business transaction costs can be reduced by low communication cost strategy. It can allow the organizations to focus on their core business activities (Lee, 1998, p.4). Moreover, organization can buy several external services through this cost reduction strategy. Frauds and opportunistic behaviour can take place in a strong long-term relationship between two different organizations. Supreme mutual trust can pose limited risk. Moreover, it will help the organizations to reduce their risk management costs. E-commerce involves synchronization between several organizations implementing effective communication technology. This synchronization can be attained in the form of a virtual enterprise or an electronic enterprise. Contracts play an important role in both these cases. In global electronic market, contracts are referred as the agreements on a particular business transaction. Contract can be considered as the collaboration agreement for a longer time period in a virtual enterprise. These cooperation agreements involve integrated business process. This integration can be attained in several ways but generally shared database and inter-organizational workflows are the major sources of this integrated business process. The study will discuss the use of several contracts in the e-commerce business. Content A contract can be defined as an agreement between several parties that is based on specific mutual commitments. One-sided commitment cannot be considered as a contract. Exchange of several goods and services between two or more than two parties can be termed as mutual commitment. In most general cases, one party provides services or goods and other party pays for those exchanged goods and services. Moreover, enforcement mechanism in places is highly essential in a contract. It ensures both identification and punishment of breaking a promise or commitment. As of now, every contract can be made through online in UK. Business transactions are generally divided into three successive phases, such as contract preparation, contract negotiation and contract fulfilment (Daskalopulu and Sergot, 1997, pp. 6-8). Contract preparation can be referred as the information phase. On the other hand, contract recognition can be referred as agreement phase. Contract fulfilment phase has limited negotiation activities. In this phase, several buyers select a specific product or service. It indicates that the buyers want to purchase that product or service. On the other hand, sellers deliver the product or services to the buyers after, before, or at the time of payment. This exchange process becomes more complicated in B2B process as the price of products or services may be not fixed. Moreover, the delivery process can become more difficult in several B2B processes as in International Trade. In these situations, the contracts are more elaborative in nature. These include several specifications in some fulfilment processes’ form (Chirku and Kauffman, 2000, pp.7-12). Moreover, these contracts help to indicate the disputes’ resolve process. Legal system is struggling due to rapid pace of e-commerce development. It is discussed earlier that mutual exchange of goods and services can be referred as contract. Written contract is the e-commerce legal tool. These contracts can

Domestic violence as it relates to pregnacy (Option 2) Research Paper - 1

Domestic violence as it relates to pregnacy (Option 2) - Research Paper Example er gives an outline as tohow nurses may offer special treatments to such women.After being attacked, victims are at peak of their physical and mental disturbance and that’s when they need the some serious support. Nurses can be of great help to suchwomen as they usually know how to take care of patients during sensitive situations like these.Such women need not only medical treatment but psychological guidance as well. Many lives are affected by domestic violence. It is one of the main issues of the rapidly growing world. Although many victims do survive, some of them are not strong enough and usually succumb to the fear and trauma of the incident. In most of the cases, it is the silence of the victim that gives the abuser an authority over them. I got my firsthand experience with a rape victim while I was serving as a junior nurse in the hospital nearby. I was treating a regular patient when I heard a sharp painful voice coming from the hospital’s lobby. Wanting to know what’s going on, I rushed to the lobby and saw a teenage girl being moved on a stretcher to the emergency. Just as I reached nearby to ask what had happened to her, she was rushed into the emergency ward for urgent treatment of her wounds. I still remember that day very correctly. She was inside the emergency room for around two hours and throughout she would keep on shouting at the top of her voice. As soon as the doctor came out from the emergency theatre, I inquired from him what had happened. He didn’t give me many details owing to the critical nature of the case but he just said that the girl’s pregnant and got raped in this situation. Being a woman myself, I got shocked like something had happened to my own self. Soon after, I was assigned to take care of that same patient. When I first went in the room I remember she was still trembling in pain and saying something to her own self. When I went close by I heard her saying â€Å"why me, why me?†. I went close to her and told her

Race & Ethnicity in Social Sciences Essay Example for Free

Race Ethnicity in Social Sciences Essay Defining identity can be complex and therefore we have to investigate the factors involved that make us who we are and how we are seen by others, collectively or individually. Social scientists have to consider the key elements which shape identity, the importance of social structures and agency involved. The differences and/or similarities between us are the focus that categorise and label us in society. Knowing who we are is important for many reasons including, social rights, obtaining a passport, housing, health, employment, marriage, and over all, being able to ascertain who we are, and belong. The terms ? race and ? ethnicity are central features in the process of categorisation. ?Racial or ? Ethnic identifications are produced as part of a social process, which is dynamic and changing. Therefore we know that identities are not static and terms such as ? race and ? ethnicity cannot cover the changing categories without being dynamic terms themselves. The use of quotation marks with these terms is adopted to emphasise that the terms are broad terms and aim to avoid discrimination or misrepresentation of groups under the umbrella term.? Race is commonly used by media and society to portray the physical differences between people, however, social scientists choose to show that the term does not refer to exact biological differences, is stereotypical, and the quotation marks emphasise the concept as more of an assumption which has political implications. The term is socially constructed and therefore does serve an essential purpose in society as it has real affects and associations. The term ?ethnicity refers to cultural practices and history, such as religion, language and territory, where a person or a group derives from, summarising their beliefs and traditions, therefore, ethnicity applies to everyone, necessitating the birth of terms ? minority ethnic group and ? majority ethnic group (Questioning Identity, Ch 4, P124, section 2. 3) to subcategorise identities in relation to ethnicity. Social scientists use quotation marks around these terms to signify that the blanket term does not distinguish between personal and social identity, but acts mainly as a collective identity concept. For example, identification on a British passport may categorise the holder as being ? British although they may be Scottish/Chinese. Social scientists prefer to call UK society a ? multi-ethnic society. These subgroup identities highlight the relational factors which exist in categorising identity, each requiring the other in order to make the comparison between ethnic differences, power and status. Racialization and Ethnicization are preferred concepts as they contribute more to the idea that the identities we adopt are part of a process and are not static, referring to a dynamic process rather than a fixed state. Categorisations from the 1970s onwards, such as the definition of ? black or ? white, were too vague, and failed to recognise the specific needs of other ethnic minorities. In order to monitor and measure statistically the discrimination and underachievement of such groups, collecting ? ethnic statistics in relation to ? race and ? ethnicity was necessary and these can be found in official government censuses. Over the years it became apparent that categorisation of ethnic groups in the censuses rendered some groups ? invisible (Questioning Identity, ch 4, p 137, section 4. 1. 1), for example Irish and Welsh. The category of ? white has had to be expanded into subcategories as the ? white grouping classification remained singular within the censuses until 2001, and ethnicization of ? whites was too generalised. (Questioning Identity: Kath Woodward ch. 4 p138 Office of Population Censuses and Surveys, 1991) These amendments show us that there have been changes in ethnic representation and that there is more awareness regarding ethnic identities and needs. The sub-categorisation of ethnic identities is used in everyday life such as in the media, job applications and insurance documents. The importance of the emergence of new and changing identities in a multi-ethnic society has led to uncertainties about what it means to be ? British. In the 1980s for example, the Commission for Racial Equality sponsored research into the claims by Irish ethnic groups making claims that they were discriminated against by public and private agencies as their ? invisibility misrepresented their particular needs. (Questioning Identity: Kath Woodward, ch. 4, p145). The 1960s Black is Beautiful movement (Questioning Identity: Kath Woodward, ch4, 2. 2, p118) campaigned the category of ?black, inclusive of Asians and any other non-white groups, as inappropriate and too wide an assumption. Collective group action and social creativity disputed the terminology of ? black and involved a struggle to alter the social meaning of blackness, as opposed to the more ? powerful ethnic majority status of being ? white. This redefined black social status and proved that black identities were not fixed but dynamic, changing from a term with connotations of disrespect, to one of pride, proving identities are collective and political as well as individual and relational, Whiteness is used as an invisible marker against which other ?ethnicities are judged (Kath Woodward, Questioning Identity, Ch 4, p 136, Section 4. 1). REFERENCES DD 121, Questioning Identity: gender, class, ethnicity. Kath Woodward, The Open University, Routledge, 2004. DD121, Workbook 1, Norma Sherratt, David Goldblatt, Maureen Mackintosh and Kath Woodward, The Open University, Routledge, 2004. DD121, Block 1, The Open University, TV02 Defining Moments DD121, Block 1, Audio 2, The Open University, Audio 3A DD121, Block 1, Audio 2, The Open University, Audio 3B.

Drug Use in the American Army in the Vietnam War

Drug Use in the American Army in the Vietnam War In 1898 the United States gained control of the Philippines. Shortly after acquiring the islands, they began a bloody struggle to suppress the guerrilla uprising that was looming. Soon after their arrival in the Philippines, the troops that were stationed in the Philippines were taught how to smoke opium. Even though this practice was very common among the troops, the current U.S. Opium Commissioner Hamilton Wright decided to deny all claims of them participating in this act. He stated in 1909 that among the personnel of our Army and Navy [in the Philippines] there is not the slightest evidence that the use of opium or its derivatives has been introduced (Brush, n.d.). This use of opium in the Philippines was defiantly not the last time that the U.S. military would use drugs such as opium during the fight to combat guerilla forces. The next time that this practice was used was in the United States involvement in the Vietnam War between the years 1965-1975. Since the beginning of the 20th century the United States had taken upon itself to start controlling drugs by forming different policies to regulate drugs and protect the people of their country. One of the leading fronts of the regulation of drugs was the president of the Bureau of Narcotics, Harry Anslinger. During the decade of the 1950s, the bureau first established different posts in Southern Asia in hopes to curve the source of where different drugs were coming into the United States from (Kuzmarov, 2008). Then later in 1962, the Kennedy Administration provided Mexico with $500,00 worth of helicopters, light planes, jeeps, and rifles through the Agency of International Development for special narcotic destruction campaign targeting marijuana and opium growers (Kuzmarov, 2008). This would set a precedent for the near future. The Vietnam War followed the First Indochina War and was fought between North Vietnam and South Vietnam. North Vietnam was supported by communist forces and South Vietnam was supported by anti-communist countries such as the United States. A few years before in 1945, President Truman stated, I believe that it must be the policy of the United States to support free peoples who are resisting attempted subjugation by armed minorities or by outside pressures. I believe that we must assist free peoples to work out their own destinies in their own way (Yancey, 2001). The Unites States saw that the support of the Southern Vietnamese people as a way to combat their idea of containment (Yancey, 2001). Many soldiers in the enacted during the Vietnam War did not want to make the Army a career. They were generally uneducated individuals who lacked in the experience that the higher ranking officials did. These GIs lack of interest, education, and experience in wars may have been one of the many reasons that morale for the Vietnam War faded so quickly. In 1971, President Nixon announced the formation of the Special Action for Drug Abuse Prevention (SAODAP) that was in charge of coordinating and reporting on the growing drug problems of the Vietnam War. Some of their findings included that about 40% of the voluntary enlistees of the troops were school dropouts and many of them enlisted in the military before the appropriate age because of how many little opportunities that they had concerning aspects of their lives such as jobs. They also had much more drug experiences than that of the draftees later on in the war (Korsmeyer and Kranzler, 2009). In the later years of the war, the drafte es were chosen by a lottery designed to make a selection less susceptible to social class biases (Korsmeyer and Kranzler, 2009). Their top priority in this strange land was survival and many turned to drugs as a way to escape (Yancy, 2001). In this paper I will discuss the role alcohol, marijuana, opium, and amphetamine had on the Vietnam War. In the early stages of the Vietnam War, alcohol abuse was the most common drug used. Many of the men partook in daily drinking in order to pass the long days and nights in Vietnam. This alcohol abuse did not cause much controversy in exception of those who were underage. The high ranking officers who partook in daily alcohol abuse were nicknamed the juicers, and the lower ranking draftees of the war were nicknamed the heads due to their indulgence in illicit drugs such as marijuana (Kutler, 1996). Drinking alcohol was significantly encouraged by the Army men. The drinking did everything to encourage their stereotype of the tough and hearty men that they tried to portray. Bars around the bases were given special licenses in order to dispense beer and other alcohols to the troops, even in the bunkers (Kutler, 1996). As the war continued, many could not ignore the fact that marijuana use was steadily increasing. As the Armys combat role in the Vietnam War wound down, illicit drugs conti nued to be a problem. With the decreasing support from the home front, the U.S. forces decided to turn to the Nixon Doctrine. Through the Army of the Republic of Vietnam (ARVN) and the Vietnamization program, soldiers were required to spend countless lonely months behind bunkers in isolation (Sanders, 1973). The men endured many lonely nights in a world that was completely new and foreign to them. They were thrown into a world that was so unfamiliar to them and their families and friends that were dear to them were halfway around the world. This negative attitude on the war and the home front caused the Vietnam War to lose its support and much of its legitimacy which fueled an exceptional environment for drug use and abuse (Kutler, 1996). The most commonly abused of the drugs being marijuana. Marijuana is one of those unique drugs that can have a very different effect on different people. In one hand, it can act like a stimulant but at the same time act as a depressant (Iversen, 2008). The United States has been trying to regulate the distribution and sales of marijuana since the 1930s after the Marijuana Tax Stamp. In 1954 the Federal Bureau of Narcotics began to investigate the trafficking of opium from Laos. The terrain of Laos is mostly mountainous with many hills and plateaus. This provided the perfect landscape for smuggling narcotics such as opium with little suspicions from the government and other prying eyes (Kuzmarov, 2008). As the soldiers came pouring in from the United States during the war, this caused worry about the illicit drugs being smuggled through the terrain and what this meant for the U.S. Military. Many of the farmers around of the area sold and packaged marijuana as a means of additional income. Marijuana is a very easy plant to grow because it i s a weed. It does not need very fertile soils or even a large amount of water, making it the perfect crop for these poor farmers (Iversen, 2008). It was also a result of the little enforcement of Drug Laws that were not well defined and of little importance in the eyes of the Vietnamese criminal justice system. There was no government control or enforcement agency over marijuana (Brush, n.d.). The farmers would often pack their marijuana in different brands of cigarettes and other smoking tobacco for distribution. The very potent marijuana was sold for a $1.50 in US currency, which was very cheap when compared to the price in America. U.S. News and World Report quoted that Marijuana in Vietnam is cheap, easy to find and potent. All a person has to do to get it is say the work Khan Sa (Zinberg, 1975). Even though this drug was readily available many men only smoked it casually to calm down after a battle or to escape the death and destruction that they were seeing every day. In a study done at the Long Binh Jail, psychiatrist Roger A. Roffman concluded that only 28.9% of GIs stationed in the Southern Corps had tried marijuana at least once. After later publishing their study, the mass media inflated their findings and were reporting that as high as 90% of American troops in Vietnam were on drugs (Kuzmarov, 2008). Only a small percentage of American troops reported heavily smoking marijuana. Media attention to the use of drugs in Vietnam was greatly construed to what was actually going on. They did not distinguish for the masses between the drug use and the drug abuse (Zinberg, 1975). In constant concern over the ever increasing addiction problem amongst the GIs, in 1969, a campaign for the destruction of marijuana was launched by the Bureau of Narcotics and Dangerous Drugs and the Vietnamese special police. Some speculate that this was also an alternative agenda to the Vietnamese to force out any guerillas and force other villagers into government ran camps. The aftermath of this mission included 504,795 marijuana plants being destroyed. These farmers were paid a small amount of money, less than one U.S. cent for every crop that was destroyed on their land (Kuzmarov, 2008). Journalist Richard Boyle commented, The United States is now waging two wars in Vietnam; one against the Vietcong and the other against Mary Jane (Sanders, 1973). With the constant pressure from the military to cut down marijuana smoking in Vietnam, many of the GIs found the risk of smoking marijuana much too great to continue their use. Because of this crackdown, soldiers found a different means of getting high in this foreign world, and its name was heroin. The heroin of the area was so readily available and pure that the men could discreetly hide the heroin in their cigarettes and smoke it with no discriminating odor of any kind, allowing it to be easily hidden (Kutler, 1996). As the 1970s slowly came, heroin addiction rapidly increased throughout all ranks of the military in Vietnam. An estimated 450,000 U.S. military forces in Vietnam were reportedly currently using or had tried for the first time heroin. Because of the strict enforcement of marijuana, it literally knocked out all of the competition that heroin had. Heroin was more readily available that marijuana had ever been. In The Senate Staff Report on Drug Abuse in the Military it stated, The upshot was the GIs who had been smoking grass turned to heroin, which was initially passed off to them as a nonaddicting cocaine. They reasoned that the substance itself, heroin, and the smoking of it were more easily concealed from prying eyes and noses than marijuana (Kutler, 1996). The inexpensive and highly pure heroin estimated at about 94-96% led to frequent use by the U.S. military in Vietnam. Few men injected it and intravenous use was rare (Morgan and Puder, 1989). In a way to deal with the growing problem of drug use, the U.S. military was also trying to encourage their troops to seek help with the heroin, marijuana, and other addictions by offering a sort of amnesty and treatment for any of the GIs who chose to seek help with their problems. Before this idea of seeking treatment, soldiers who were caught participating in drug activity were subject to court marshal and the possibility of dishonorable discharge (Korsmeyer and Kranzler, 2009). As this new idea was being set out, more and more troops were being sent back to the United States. The downside to more troops being sent home was the fact that many of these men were regularly using illicit drugs such as marijuana and heroin on a daily bases. The men were bringing back their drug habits into the United States with them. As the impeding fear of drug addiction on the home front became clearer and clearer, Nixon proposed a plan in 1971 to conduct urine testing for GIs returning home. If the men did not pass the drug test, then they could not return. This new policy was dubbed Operation Golden Flow. These fears of heroin addiction reaching United States soil did not occur at the level that was expected. An estimation of more than two-thirds of the returning GIs from Vietnam never even touch heroin once they returned home (Morgan and Puder, 1989). Although the media attention on this new policy focused mainly on the dreaded heroin, the goal was to detect as many different drugs the troops may have been using while in Vietnam. As to be recognized, the methods used for this testing was in its very primitive state, causing some discrepancies to the testing methods. The 1971 program was confined to testing for residue and/or metabolites of opiates, barbiturates, and amphetamine (Morgan and Puder, 1989). Amphetamines were another drug used during the Vietnam War. Even though marijuana and heroin were more plentiful during this time, some amphetamines were also used. They were used mainly in part because the military would dispense these drugs in order to keep their men awake. The pills were commonly called go pills which allowed the soldiers to stay alert awake during special assigned missions (Korsmeyer and Kranzler, 2009). GIs could also purchase vials of liquid amphetamines on the black market and use them for staying alert during patrol duties or even for parties in rear areas. Some veterans remarked that when asked how coming off the drug was, they replied that it made them edgy and extremely irritable. One soldier even stated that coming off of the drug made the fell like shooting children in the streets. It could be assumed that for reasons like this, marijuana was often the drug of choice for the soldiers over in Vietnam (Tucker, 1998). Drug use has been a staple in wars throughout history with the Napoleonic Wars, World War I, and World War II just to name a few (Sanders, 1973). The Vietnam War was no different than these other wars. In Vietnam the most common drugs used were alcohol, marijuana, heroin, and some amphetamines. These GIs in the Vietnam War were sent to a land in isolation that was foreign to them. Many leaned towards drugs in order to combat the loneliness and horror they saw on the battlefront and many just out of boredom during their stint in Vietnam. At first drugs were used in moderation, but as the war continued on some drug problems among the soldiers became clearer. Statistics concerning exactly how many men were using different forms of illicit drugs tend to be unclear, but the one fact that is clear is that they were in constant supply and utilized in the American Army during the Vietnam War.

The Confederate Flag Essay -- Flag Argumentative Persuasive Paperes

The Confederate Flag On January 1992 the NAACP put in affect a boycott on South Carolina to pressure the state to remove the Confederate flag off of its Statehouse in Columbia. The boycott is what initially brought life to this issue. The NAACP’s removal request is based on the fact that they, the anti-flag groups, claim that the meaning of the Confederate flag is one of hate and discrimination. On the other hand, there are other groups that believe differently whom are called the pro-flag groups. They claim that the Confederate flag is a sign of heritage and should stay on South Carolina’s Statehouse. Anti-flag articles are more likely to be found published in well-known Liberal magazines, when credible pro-flag articles were hard to find. The main issue of the debate, which is a definition argument, includes one that argues the meaning of the Confederate flag and what it stands for, and from it many arguments stem that make up the intense debate about the Confederate flag. The Civil War being about slavery is one of the first things addressed in both types of articles. Within this argument, the pro-flag groups claim that many blacks fought for the Confederacy. Then the Confederate flag’s connection with racism is then argued. An anti-flag argument to prove that the Confederate flag is connected to slavery is that it was raised in response to the civil rights movement that was going on in 1961. Another anti-flag argument is that the Confederate flag does not represent the State as a whole and for that reason should not be flown on South Carolina’s Statehouse. An even amount of pathos and logos is used among the opposing groups, but the anti-flag articles tend to have more ethical appeal and fewer flaws in their a... ...ision by figuring out which side has the strongest one and therefore the more justified cause. Work Cited Eric Foner. â€Å"Rebel Yell.† The Nation. 270.6 (February 14, 2000): 4. James F. Barker. â€Å"Clemson History Offers Perspective for Flag Debate.† The State. December 3, 2000. Stuart Taylor Jr. â€Å"The Confederate Flag and the Cost of Pandering.† National Journal. 32.4 (January 22, 2000): 215. Walter E. Williams. No: â€Å"Critics of the flag are Counting on a General Ignorance of History to Make Their Case.† Symposium. March 14, 2001. http://www.insightmag.com/archive/200002064.shtml Quick, Steven. â€Å"Lynching Lee† The Opinions. 2/27/2001 Http://www.palmetto.org/noprint.htm Amy. â€Å"Even more on the confederate Flag vs. the â€Å"Xian† usage debates.† Parentsplace.com. February 02,2000 wysiwyg://4http://boards2.parentsplace.com/messages/get/ppcurrentdebates63/26.html

Standards of Living Essay -- Economics Essays

Standards of Living In "Stone Age Economics" Marshall Sahlins contrasts the economic strategy of industrial societies to hunter-gatherer societies. In doing so he dispels former ideas that hunter-gatherer societies are poor, unhappy and hungry. He explains this by asserting a number of relevant points. First, in an industrial society, a person’s wants are extremely high, while his/her means are limited. Industrial products are created to close this gap between wants and means. In a hunter-gatherer society (the Zen road to affluence as Sahlins describes it), a person’s wants are low, while the technical means to satisfy these wants are adequate. In this case the standard of living is low compared to industrial societies but the people are satisfied when it comes to material objects. In their eyes they have plenty (Sahlins, 1972:2). Prior to the 1970's many believed that hunter-gatherer societies were poor and unhappy. Westerners believed that these groups lived inadequately with scarce resources. However, Sahlins states that it is modern capitalist societies that are dealing with scarcity as they have placed such an emphasis on material goods. Consumption in this case has lead to inadequacy and eventually deprivation in industrial societies (Sahlins, 1972:4). In Sahlins’ example " every purchase of something is a foregoing of something else" (Sahlins, 1972:4). However, in a hunter-gatherer society, there is no such thing as material wealth, and therefore no deprivation, or unhappiness. "Hunters are in business for their health. . . bow and arrow are adequate to that end" (Sahlins, 1972:5). In hunter-gatherer societies, material wealth has become a burden as it suppresses their highly mobile lifestyle. In this... ... and alcohol. All of these factors have altered their mobile, reciprocal way of life and has brought on many conflicts as well as a stationery life. The results of these changes emphasize how the Ju (and other hunter-gatherer groups) have maintained a successful lifestyle by mobility and foraging. Their standard of living has dropped with the onset of western ideas and technologies. Many of them remember the old way of life, but how will they return to that? I feel that it is important to learn from the Ju and other hunter-gatherer groups. Not everyone can live as we, in the technological, highly industrial, capitalistic society, can. My question is, as different parts of the world are influenced by capitalism can governments support hunter-gatherers in a capitalistic society and will there ever be a return to this way of life by people like the Ju/’hoansi?

Mama Day by Gloria Naylor :: Mama Day Gloria Naylor Literature Essays

Mama Day by Gloria Naylor Mama Day by Gloria Naylor is a fantastic novel filled with vivid imagery and intriguing characters. Naylor weaves a realistic tale, despite the fantastic events that she describes. Her characters are believable and behave like "real people". However, Naylor's greatest asset is her descriptive powers, which not only sets the scene, but enraptures readers into Cocoa's dual worlds of New York City and Willow Springs, imprisoning us with her words. The plot centers around the three main characters: Ophelia/Cocoa/Baby Girl, George and Mama Day. Mama Day is by far the most dominant personality, although we are not inside her mind the same way we are with Cocoa and George. Mama Day represents the power and resilience of nature and the town of Willow Springs itself. She seems to literally be upholding the town, and to be so indispensable, I wonder what the town will do when she is gone, left with only Dr. Buzzard as the resident "medicine man." But Mama Day seems to have no intention of leaving anytime soon. Naylor enhances the connection of Mama Day with nature by associating her with natural imagery. We always see Mama Day in her gardens, or the forest, nursing the land with her skill. She has a connection to nature, and can understand it, as seen by her prediction of the storm. Mama Day represents the last vestiges of the power of the African wise woman, a role that is dying out as society becomes more and more urban. Cocoa straddles the worlds of nature and the city. Her roots are in Willow Springs and she cannot forget that. However, we can never see her taking up the role of wise woman after Mama Day is gone. She has been too changed by the city and its disappointments and heartaches. This division causes much of the conflict between her and George, since she often lashes out when her soul is divided. George Andrews represents, of course, the world of the city. He cannot accept Mama Day's primal power, and loses his life for his lack of belief. His angry retaliation at the helpless chickens represents the urban idea of attempting to control nature. George tries to control something he can't understand, and thus pays the consequences. Each character is associated with their own imagery and language. When each of them speaks, it is with their own unique dialect.

Polk’s Declaration of War with Mexico Essay

Many believe that James K. Polk’s declaration of War with Mexico was a justifiable action. On the contrary, a more sound argument can be made using Lincoln’s â€Å"Spot Resolutions† and Thoreau’s â€Å"Civil Disobedience†; stating that Polk deliberately proclaimed war in order to expand United States’ territory and slavery. Abraham Lincoln used his â€Å"Spot Resolutions† to persuade the House of Representatives to present Polk with queries about the veracity of his statements, particularly in regard to the actual â€Å"spot† where blood was initially shed. Lincoln’s questions were never answered but his resolutions convinced much of the public that Polk was not being straightforward about his motives for war. In fact, Polk had a draft written to Congress asking to declare war on Mexico prior to having gained knowledge of U.S. casualties. Polk’s original justifications for war include Mexico’s failure to pay U.S. damage claims and their refusal to meet with Slidell, yet later he stated that the war was a â€Å"defensive measure.† Other oppositions to the war came from those who defended civil liberties, most prominently from Henry David Thoreau. Through Thoreau’s eyes, the government was engaged in an unjust war with the sole objective to promote the westward expansion of slavery. As a protest, Thoreau refused to pay his poll tax to support an imperialistic war, resulting in a night in jail. Thoreau condoned breaking the law if the law was perceived unethical. Thoreau believed that people have the duty to answer to a higher law than of our government, their own set of morals. Polk seemed to change his reasons for war depending on what the public hoped to hear, but he never wavered in his decision for the declaration of War on Mexico. This suggests that he was determined to reap the rewards from a war that he declared over the opposition from both the public and the legislature. The analysis of Lincoln’s â€Å"Spot Resolutions† infer that James K. Polk declared war to gain western lands, especially California, despite the repercussions of warfare. Thoreau’s â€Å"Civil Disobedience† also gives evidence that Polk orchestrated the War with Mexico to reach slavery out west.

Polk Company Review Essay

†¢ In this case, would it be better to use the variable or absorption costing method, and why? In this case, it would be better to use the absorption method because this method incorporates only the overhead that is allocated to the 80,000 units sold. The variable method counts fixed overhead as a period expense, meaning that the fixed overhead for this period is calculated on the basis of the 95,000 units produced, if the absorption method is used. The absorption method only calculates fixed overhead on the basis of the 80,000 units that were sold. This provides management with a more accurate picture of the profitability of the fishing lures. Thus, the absorption costing method is optimal. †¢ What are the benefits of the two methods? Under absorption costing system, the product cost consists of all variable as well as all fixed manufacturing costs.. But when variable costing system is used, the fixed cost (both manufacturing and non-manufacturing) is treated as a period cost and therefore is not included in the product cost. The ability to provide accurate information to management about product costs is the main benefit of the absorption method. The variable method is beneficial because it provides an output (net income) that is closer to the cash flow of the business. This is useful in particular for businesses that might be short on cash flow. Further, the variable costing method provides management with a clearer picture of the effect that fixed costs have on the total profitability of the company (AFM, 2012). †¢ Which method would lead to the best decision when a competitor is submitting a lower bid for your product? Absorption costing is particularly useful for firms that do not sell all of their manufactured products during the accounting period, as is the case with Polk. Under absorption costing, the cost of a good is not shown until the good has been sold (Johnston, 2013). This can be a disadvantage if a portion of the goods produced are ultimately not sold, as management would still have to know the cost of those goods.

Inventory Control System Essay

This study is established towards gathering and developing strategies that could solve the inappropriate inventory system of 7-eleven Sto. Rosario, Angeles City Outlet. The researchers established Trend analysis (regress over time) and Basic Economic Order Quantity (EOQ) to solve problem of inappropriate inventory management. The findings of this study revealed the problem on the current inventory management system that is evident in the product overstocking and under stocking problem of 7-eleven. Forecasting demand may improve the ordering quantity every time they place an order and EOQ may result in the significant savings for the company. The Story of Convenience Shopping 7-eleven pioneered the convenience store concept way back in `1927 at the Southland Ice Company in Dallas, Texas. In addition to selling blocks of ice to refrigerated food, an enterprising ice dock employee began offering milk, bread and eggs on Sundays and evenings when grocery stores were closed. This new business idea produced ideas that satisfied customers and increased sales, and convenience retailing was born. The company’s first convenience outlets were known as Tote’m stores since customers â€Å"Toted† away their purchases and some even sported genuine Alaskan totem poles in front. In 1946, Tote’m became 7-Eleven to reflect the stores’ new, extended hours 7 a.m until 11 p.m., seven days a week. The companu’s corporate name was changed from the Southland Corporation to 7-Eleven, inc, in 1999. Each Store focuses on meeting the needs of busy shoppers by providing a broad selection of fresh, high quality products and services at everyday fair prices, along with speedy transactions and a clean,safe and friendly shopping environment. In year 2004, 7-Eleven located at Sto. Rosario Street Angeles City was established under the management of Edgar Nucum who was the first manager under corporate group of the Philippine Seven Corporation. However, on May 2, 2005, the said business was turnover To Mevin Teopaco because of the conversion of the establishments from corporate to franchisee  Mr. Teopaco who took the business through formal application and training on how to run the business. He is responsible for ordering, buying and maintaining inventory, hiring and training employees, as well on payroll, cash variation, supplies, certain repairs, maintenance and other controllable in store expenses. The company’s mission is t offer time-conscious customers a full range of products and services that meet their ever-changing daily needs through quality, speed, selection and value in a safe, friendly and pleasant environment. And their vision is to â€Å"become a recognized leader in providing time-conscious consumers with a full-range of products and services that meet their ever-changing daily needs. We will be the customer-preffered convenience store by exceeding customer expectations through quality, speed, selection, and value in a safe and pleasant environment, treating our employees with dignity and respect, recognizing our franchisees and suppliers as business partners, being a good corporate citizen. Achieving our vision and continued growth will provide our shareholders with a beter than competitive return on their investments†. Inventories are ordered on a daily basis and delivered through central distribution located in Pasig City. Inventories are individually monitored thorugh monitoring sheet report, sales and ordering are incorporated at SAS System that link to POS (Point of Sales). Although Mr. Teopaco had special training in managing the said business, still sometimes he experienced and encountered different problems related to operation such as inventory losses. Such problem is caused by different factors. This problem arises when the management encounters discrepancy in the delivery of the products. However, there are products, which the store provides but not salable. Such products sty longer in the store and become spoiled. Which are referred to as bad merchandise or BM. In effect, the company experience losses on inventories because such scenario usually happens in the store. Since the store is open 24 hours a day and the security system of the store is not that fully implemented, there are customers who shop lift from the store especially â€Å"out-of-sight† and small products. Sometimes the management could not trace those products until they make an inventory count. Another thing is that some employees do unnecessary things in the store like eating some of the products or keeping them. In such case, inventory losses happen. The occurrence of these different factors led to the existence of a current  problem, which need to be monitored and evaluated by the management in order to achieve the desired objectives of the said company. The Current Situation on the Inventory Management of 7Eleven The main problem 7Eleven is currently facing is the inventory losses as shown on Figure 1. This problem exists because of different factors that the management should eliminate or if not, at least minimize. Such factors are the theft and shoplifiting that result to lesser sales or profit, and obsolescence of the products that result to high inventory sales. Unavailability of the prodcuts results to stock-outs and lower sales because customers tend to patronize competitor’s products. The second factor that led to the afordeimentioned problem is inefficient employees. Inefficient employees can occur just like not performing their duties well and sometimes by concealing merchandise in a purse, pocket, or bag and removing it from the store. It can also occur by stealing cash, allowing others to steal merchandise, eating the goods and sometimes some employees do not punch other products sold. Employee theft can sometimes be charges as embezzlement due to be trusted fiduciary status of the employee. Being inefficient employee can also result dissatisfied customer. All of these methods lead to loss of inventory(shrinkage) and/or profit for the merchant. Preventing employee theft and being irresponsible is a constant challenge for the store. The store knows that it must put systems in place to prevent or deter internal theft. To be effective, loss prevention systems must be designed to reduce the opportunity,desire, and motivation for employee theft. Basic loss prevention steps involve good procedures for hiring, training and supervision of employees and managers. Procedures that are clearly defined, articulated, and fully implemented will reduce opportunity, desire, and motivation for employees to steal. For others, the only barrier to dishonesty is the fear of being caught. The employee thief risks being fired, arrested, jailed, and paying restitution. The other cause of the said problem is the inefficient inventory control system.With this, inventories are not properly controlled which results to a high percentage of spoilage or expiration of some products. When an inefficient valuation is assigned to the inventory, it may end up having higher inventory expense. Moreover, it will be costly on the part of the store. To determine the cost to be associated with the inventory, a physical inventory must be taken in order to determing the number of units present. Then, the costs are attached to each item in the inventory. When dealing with the inventories, cost should be interpreted to mean the sum of all direct or indirect charges incurred in bringing an item of inventory to its existing condition and/or location. The store have a price tag or a universal product code, it is acommon practice to take the physical inventory at the store from these price tags and codes it can determine their inventory. Maintenance of inventory losses may result in lost sales and disgruntled customers. The last factor is the lack of security control system because of limited employees that wil oversee the inventories specially those that are not visible. In effect, shoplifting and theft arises. Technology alone will not eliminate retail theft. Store who wants to reduce losses should also Strive to provide good customer service and promote high job satisfactions levels among its retail sales associates. Stores that utilize security technologies generally have lower overall inventory shrinkage than those retailers who do not. Technology also allows employees to focus more time on assisting customers and less on patrolling the aisles. Inventory is considered the current asset to the store because it will normally be sold within the store’s operating cycle.   All of the said causes result in inventory losses and lead to different effects, such as, lesser profits/sales, dissatisfied customers, and stock-outs. These are not beneficial to the company so the management need to find ways on how to overcome the causes that lead to the above effects.

Wal-Mart Market Analysis

Wal-Mart Market Analysis Wal-Mart is the second largest company in the world. Its focus is on mass merchandising as opposed to specialty merchandising. The idea behind mass merchandising is to offer products and services in one convenient store to better manage a consumer’s time. An example of how Wal-Mart mass merchandisers is by offering a multitude of products and services within one convenient store. They sell sporting goods, electronics, housing needs, clothing, groceries, consumables, and toiletries all in one convenient location. Similar to a mall, Wal-Mart meets all of its customers’ needs in one location. This is a very valuable ability because it allows the customer to have more control over his or her time. (Research and Markets, 2010) The company operates under three main operation segments. Its most common segment will be its Wal-Mart. The second common segment found in the United States is Sam’s Club. Sam’s club is similar to Wal-Mart except that it is larger in size and puts more emphasis on wholesale retail. They are more popular with businesses and large families. The company’s last segment consists of International stores. Though Wal-Mart has few locations outside the United States its name is widely known. (Research and Markets, 2010) Within the United States, Wal-Mart has a variety of mass merchandising locations. Wal-Mart’s products and services within each location are based on demographics and surrounding stores. Superstores, discount stores, and neighborhood markets are the three types of stores Wal-Mart might open, given a certain demographic. If a community is large and consists of multiple school districts and many families, Wal-Mart will consider opening a Superstore or neighborhood market. Within a neighborhood market, Wal-Mart offers lower pricing to compete with higher priced stores such as Targets, Kohls, ShopRites, ACMEs, and Super fresh. Even shopping malls competing with Wal-Mart. Discount stores are located in smaller communities, mostly consisting of elderly individuals or small families. (Research and Markets, 2010) Wal-Mart’s is a very powerful company due to its low pricing and high volume. It drives mom and pop shops and local small retail stores out of business due to the inability to compete with such a large chain. Although this is disappointing, Wal-Mart is one of the largest employers, providing jobs for over a million employees. So it does its share to contribute to employment. (Market Research, 2010) Everyday Wal-Mart is increasing its market share. Years back Wal-Mart was just another retailer, but due to massive expansion and lower prices, Wal-Mart now competes in almost every type of retail business. Wal-Mart is now opening grocery stores, gas stations, and supercenters that sell everything imaginable in order to maximize its market share. Everyday Wal-Mart is devising new ideas to keep a huge control over the market share. Ideas of incorporating a grocery store within a clothing store were farfetched 10 years ago, but now it is typical to buy dairy products and sporting goods all in one store. Now farfetched and even crazier ideas such as selling used cars, financial services, and home improvement needs can be realized within Wal-Mart’s ability to expand its products and services. (Market Research, 2010) Wal-Mart has the ability to continue growing to higher and even deeper depths. The goal for Wal-Mart is to not let its goals of expanding interfere with its normal and everyday operations. Low prices and convenience are a must for Wal-Mart to continue operating. Today Wal-Mart is a common name in retail just as Ford is common to automobiles. ? References Market Research, Initials. (2010). The Age of wal-mart. Retrieved fromhttp://www. marketresearch. com/map/prod/805195. html Research and Markets, Initials. (2010). Analysis of wal-mart stores. Retrieved from http://www. researchandmarkets. com/reportinfo. asp? report_id=552122

Fault Reporting System (FRS) Essay Example | Topics and Well Written Essays - 2750 words

Fault Reporting System (FRS) - Essay Example Part 1 Analysis of Requirements A- Business objectives for the FRS The development of fault reporting system is aimed at achieving the following business objectives: Reduce the number of complaints regarding IT faults Increase credibility of business services On-time problem management Higher market share through better services Targeting wide customer market Increasing annual turnover Enhancing business productivity through better services Increasing the hardware product’s quality services B Produces a list of the functions required from the FRS Through the implementation of Fault Reporting System (FRS) we are intended to improve the overall business operational performance. ... Allocation Staff for complaint management (BO6, BO7) Issues Recording Screen R8. Recording all issues found (BO8) R9. Entering main issues found on system (BO9, BO10) Action Taken Screen R10. Recording necessary actions taken to mitigate the problem (BO11) Link each function to at least one Business Objective This section describes different functions those will be provided by the new system. In this way the business will be capable to get more effective facilities for conducting corporate operations and improving working environment: Client Satisfaction Clients’ satisfaction is one of the prime factors of the business. In this connection I have listed below main functionalities of the new web based Fault Reporting System: Recording all the complaints Saving clients detailed information along with complaints Quick fixes Fast actions Reducing faults fixing within "two working days† Offering more reliability of different types of computer equipment Enhancing overall corpor ate internal working structure Fast Response Quick response to clients’ complaints is essential for the business operational performance. In this scenario I have presented below the functionalities of the new Fault Reporting System: Offering exact date for solutions In case of small problem offering frequent solution Proper submission of complaints to the relevant department Web based or On-line assistance On-time Complaint Management On-time management of the clients’ complaints is a major preference of every business. In this scenario for the quick on-time complaints management we need to produce some internal and external departmental changes. Therefore I have outlined below some of the main functionalities for the new Fault Reporting System: Rapid action or response against

Managerment Essay Example | Topics and Well Written Essays - 1500 words

Managerment - Essay Example In South Africa, the private sector comprises of 2.7 million numbers of small enterprises. Majority of these employees are informal and micro enterprises. Only 12,000 of them are considered to be medium and large scale enterprises. 2.7 million enterprises in the country generate employment for 9.3 million people across the country. About three-fourth of these employees are engaged in the small and medium scale enterprises. These enterprises play a major role in uplifting the economic condition of the country, however their progress have remained substantially slow over the last few years. The employment generated according to the size of enterprises has been presented in the following diagram1. In fact the government of South Africa considers the development of small businesses as an important step towards strengthening the economy2. Small businesses are said to contribute significantly to the employment growth in Sub Saharan Africa. The small businesses have been able to absorb more than 40% of the labor force in the region. The most prominent improvements have been witnessed in the five countries, namely, Kenya, Malawi, Botswana, Zimbabwe and Swaziland. The increase in the number of start-ups specifically accounts for the improvement in the level of employment in the region. Only about 25% of these small businesses have grown substantially, but their contribution towards employment creation has is substantial. Only 1% of the start-ups has effectively transformed into the intermediate sized firms3. The small firms are said to the backbone of the sub Saharan economy. The size distribution among the firms existing in Africa is highly skewed with large number of small firms4. The small and medium enterprise sector in Nigeria comprises of 50% of the country’s employment and 50% of the country’s industrial output. The contribution of small economies to the economic growth of Africa is at par with the advanced nations of the

An Ethical Approach towards Developing the Student Workload Project Essay

An Ethical Approach towards Developing the Student Workload Project - Essay Example As the paper outlines, the ethical issues may also involve the role of the developer of the system concerning the objective of the information technology system. The following analysis aims to identify the ethical issues surrounding a class project concerning intellectual property and reliability of the project. The case study for the analysis is based on the student workload tracker project. The student Workload tracker project was developed under the oversight of two administrator and nine project members who contributed towards the development of the project. The student workload tracker project was aimed at developing a computer system that would enhance the scheduling process of student’s assignments in school. In an ordinary learning environment students attempt to struggle balancing assignments, academic studies and social life. Subsequently, this makes the students to be overwhelmed since especially when they lack proper time management skills. Therefore, the student w orkload tracker project was aimed at developing a time management schedule based on the analysis of students’ routine activities and the normal time spent on completing a specific activity. Consequently, the system would use the data to present a trend based on various analytical tools such as graphs and charts. In addition a user interface would be used to enhance the appearance of the data in order to provide a clear view of the students’ task performance trends. Therefore based on the portrayed trend by the system, the students would be in a position to create a reliable schedule based on sequence of assignments and the anticipated time for completing relevant tasks. The implementation of the Student Workload tracker system was assessed on the basis of functionality and achievement of the deliverables by the group members.

Ohio's Wetlands Term Paper Example | Topics and Well Written Essays - 1250 words

Ohio's Wetlands - Term Paper Example Some of the swamps of Ohio are the Slate Run Metropark, Wilson Swamp, and, the Scofield Swamp that is well-known for its seasonal flora like â€Å"white water-cup† and â€Å"pigweed† which are scientifically known as â€Å"Ranunculus longirostris Godron† and â€Å"Amaranthus hybridus† respectively growing in winter and summer. The bogs of Ohio are swallow wetlands that are comparatively cold than other swamps and have a number of water-weeds like â€Å"floating sphagnum mat, swamp loosestrife†¦leatherleaf†¦and tamarack† (EPA, n.d.). Ohio’s most famous bog is â€Å"Triangle Lake Bog†. The Sheldons Marsh in Ohio is a â€Å"lagoon wetland and swamp forest that has developed behind a narrow barrier beach† and it is enriched with a number of fauna such as â€Å"waterfowl and migratory songbird habitat during the spring and fall migrations† (EPA). Ohio’s vernal pools are wetlands, small in size, that are locate d in the â€Å"Drew woods† and â€Å"Gahanna Woods†. It is reported in a fact sheet, prepared by the â€Å"State of Ohio Environmental Protection Agency† (2007), that the wetlands of Ohio â€Å"provide a haven for rare and endangered plants, and one-third of the all endangered species depend on wetlands for survival. Many wetlands are important fish spawning and nursery areas, as well as nesting, resting and feeding areas for waterfowl.† (p.1) The wetlands and the Marshes of Ohio have a long history and have undergone significant changes due to the hostility of men. It has affected the environment of the area while destroying the reserve of flora and fauna. Indeed majority of the wetlands of the Ohio State â€Å"were drained and filled to make way for farms, roadways, houses and other development† (ONDR, n.d.). With the progress of industrial civilizations, a large portion of the wetlands in the state has disappeared. The Ohio Department of Natural Resource reports that â€Å"nearly

Lafarge Financial Statements Case Study Example | Topics and Well Written Essays - 2250 words

Lafarge Financial Statements - Case Study Example The trend analysis of Lafarge's P&L statement shows that the increase in company's sales has been stable over the years with a hike in sales by about 17% in 2005. The cost of sales has also been rising with the increase in sales and they have finally mounted by about 17% during the last financial year. It reflects that the percentage change in sales is almost same as the percentage change in cost of sales, however a reduction in depreciation account by 4.1% has magnified the company's gross profit by 22% in 2005. The SG&A have expanded drastically during the year 2005 i.e., by 13% (1.2% in 2004). However, due to a substantial increase in gross profit, the company managed to display a rise in the operating income by about 32%. The company has had a substantial decline in the interest payable for two years, however it seems to have rebuilt during 2005. The company's pre-tax income had declined by almost 3% in 2004, which recovered surprisingly with an increase of 36% in 2005 as compare d to the year 2003. With a 50% increase in net income, the company's retained earnings has flourished by 54% while the dividend distributed have increased by 41%. Thus, an analysis of profit and loss suggests that the company has risen up from the decline that took place in its financial performance in 2004. Three-Year Earning Per Share Analysis EPS 2005 2004 2003 Earning Per Share 6.39 5.16 4.92 "Common shareholders and potential investors in common stock first look at a company's earning record" (Meigs & Meigs, p934, 1993). The EPS analysis of Lafarge's financial statements reflects that the company has had an increasing trend in the earnings per share for the last three years. The company's EPS increased by 4.8% in the year 2004, which further rose by almost 24% in 2005. This sudden enhancement of the company's earnings has also been evident in its P&L statement, which highlights a pleasant reform in the company's financial performance in the year 2005 owing to a drastic increase in sales revenue. EBITDA Analysis EBITDA 2005 2004 2003 Lafarge Group 14.8% 14.7% 14.2% Cement 23.3% 23.0% 23.0% Aggregates & Concrete 7.4% 7.1% 6.3% Gypsum Products 10.3% 9.6% 7.0% Roofing 6.5% 10.0% 9.4% Speciality products -285.7% -128.3% -38.7% EBITDA refers to the Earnings Before Interest, Taxation, Depreciation and Amortization. Therefore this analysis takes into account all the major costs and expenses other than the items mentioned above. The EBITDA margins presented in the above graph reflect a segregated view of the company's earnings in terms of the group as a whole and its subsidiaries (on the basis of products). The group's EBITDA margin represents a stable and subtle rise in the company's earnings, which is a sum up of its subsidiaries. Cement and A&C are also having a stable uplift in earnings, while Gypsum products section is showing a remarkable growth in terms of EBITDA. Roofing's earnings have declined in the year 2005 whereas the specialty products section has had a substantial increase in the declining state of earnings, which