Final Exam Essay Example | Topics and Well Written Essays - 1000 words - 13

Final Exam - Essay Example To ensure that this become a success, FDR used radio as a mode of communication to convince American populace that the crisis had come to an end and that their deposits were safe following the introduction of the Federal Deposit Insurance Corporation (FDIC)1. The New Deal also created the Works Progress Administration (WPA), the Agricultural Adjustment Administration (AAA), and the Civilian Conservation Corps (CCC). The most eminent measure of the New Deal was the establishment of the 1935 Social Security Act, which resulted in the formation of Social Security Administration, employment compensation, as well as the national system of old-age pensions. According to a report, the Social Security provided federal financial assistance to the handicapped, orphans, and the blind. Additionally, the New Deal also gave way for the formation of a number of regulatory agencies, such as the Federal Housing Administration (FHA), which made homeownership affordable to millions of average Americans, the National Labor Relations Board, the Securities and Exchange Commission (SEC), as well as the Federal Communications Commission and the Civil Aeronautics Authority2. Despite the fact that the New Deal initiative lessened the impacts of the Great Depression, it did not end the depression. Report indicates that unemployment remained extremely high throughout the 1930s despite the New Deal being in place. At the same time, the economic growth remained slow. According to a report, America’s economy only recovered during the third term of Roosevelt’s reign when the increased demands of mobilization for World War II restored the country to full employment. In fact, report indicates that Adolf Hitler did more to end the Great Depression that Roosevelt did3. There are those who consider the New Deal as a good initiative for the U.S. government policy today. However, research indicates that the New Deal program negatively affected the poor

Consistency concerning Essay Example for Free

Consistency concerning Essay In my StrengthsFinder 2. 0 evaluation, I found a lot of patterns about myself which I believe to be true. My top five themes are Consistency, Relator, Arranger, Harmony, and Significance. Since I am an extrovert, I find the description under Consistency concerning the need to treat people equally to be especially true. I enjoy being around a lot of people, especially a large group of friends and I enjoy doing group projects and find them to be completed much more efficiently than if I was doing them by myself and alone. In fact, since I am good at delegating tasks, I find that group projects can be completed far more efficiently if I am in the role as leader. In this way, I can treat everyone equally and be especially fair in equal task performance. Also, since I feel comfortable making sure everyone is treated fairly, I tend to notice when people are being treated with bias. Being a Relator definitely ties in with my extroversion. I love people and I love being around people. I identify with the characteristics described in my Relator profile, because I really do enjoy getting close to people and I tend to spend a lot of time focusing on personal intimate activities which would help us share closer bonds. In fact, one of my driving forces is to develop air-tight relationships with my friends and lifelong bonds. I am still close friends with people I knew in grade school, and I tend to strive toward that goal with others even today. The Arranger theme specifies that not only am I an organizer, but that I have the flexibility to arrange all of the pieces of my life for maximum potential. I especially find this to be so during a group activity. Rather than delineating tasks to random people, I enjoy knowing and applying their different strengths to each task. I tend to categorize people and specify tasks to order, so that everyone is not only doing something which they are good at, but which they also enjoy. I feel that this builds a group focus, where everyone is appreciated for their strengths and where everyone gets an equal voice. I enjoy building group harmony, so that we can grow together, rather than away from each other and separately. This kind of leads into the next strength I have: Harmony. Not only do I enjoy a wide variety of people, but I really enjoy finding common ground between them and mixing them together. In fact, I get a real kick out of making friends between two people who ordinarily would never cross paths. I have a little bit of a reputation among my friends as the arbitrator of our groups, because I really like to focus on how we can all just along peaceably and enjoyably. Though it may seem like I enjoy conflict because I am constantly putting widely different people together, the truth is, I only enjoy doing this if I believe that I can bring some balance between them and if I think that they have enough in common to get along. My category of Significance: This leads back to my extroversion and leadership roles among groups. I enjoy taking credit for a job well done, and even though I enjoy for everyone to get equal credit, I really like being the center of the spotlight sometimes. Also, because I am so often around a group of people, one of the ways I enjoy gaining and retaining significance is by being the arbitrator between people. I enjoy it when other people ask me for advice and help with their personal or social problems. Not only do I feel qualified and adept at handling these problems, but I get a rush from being the one who they ask to assist them. I like being the one who everyone runs to for help, I guess because I feel needed and wanted, and also because it means that my attempts to draw closer to their personal lives were successful. I feel like I am an accepted part of the group if I remain qualified to help each individual with their lives.

A Journey into the Soul in Heart of Darkness Essay -- Heart Darkness e

A Journey into the Soul in Heart of Darkness A picture is an abstract idea, brought into context to form something concrete. They are made up and created to give off some sort of feeling or mood, that one can relate too. The atmosphere helps determine what kind of mood the picture will take. Any author, of either a painting or piece of literature will set the mood by using their atmosphere to enhance the theme of their creation. In Heart of Darkness, Joseph Conrad uses mood and atmosphere to help create a portrait called, the journey into the soul. The journey to the soul is to find one's self. Atmosphere pervades the mood or spirit. The atmosphere aids in revealing the journey to find one's soul. The setting, "took in the forest, the creek, the mud, the river-seemed to beckon with a dishonoring flourish before the sunlit face of land a treacherous appeal to the lurking death, to the hidden evil, to the profound darkness of its heart." Conrad 54 Conrad does not even mention their exact location which is very peculiar. The main river was described in the form a snake. A snake can be looked at from many points of views, mythological, biblical, literal and metaphorically. The snake represents all the twists and turns and being able to find one's inner-self is very difficult and twisted. The snake represents some of the animal imagery in the novel. Perhaps this is a sign that the jungle is something living and not just an ordinary jungle. Literature's imagery helps to show the main idea th... ...sh off against the state of the reader. While reading the novel I was able to reflect on my own journey to the soul. Any reader can reflect and realize the inevitable. The journey is not a pleasant one, it is a very difficult task, where evil lurks in the smallest of places. These places could be anywhere including the soul and the soul is one of man's most unique qualities. It determines who we are and how we treat everyone surrounding our presence. In this universe people live and die but a soul is immortal and will undertake an eternity. Works Cited Conrad, Joseph.Heart of Darkness.Bantam Books:New York,1981. Resources for the Study of Joseph Conrad's Heart of Darkness.1998. Simon & Schuster.Webster's New World Dictionary.Macmillian:New York,1996.

The Vampire Diaries: Dark Reunion Chapter Nine

â€Å"†¦ And so, ladies and gentlemen, I give you the class of '92!† Bonnie threw her cap into the air along with everyone else. We made it, she thought. Whatever happens tonight, Matt and Meredith and I made it to graduation. There had been times this last school year when she had seriously doubted they would. Considering Sue's death, Bonnie had expected the graduation ceremony to be listless or grim. Instead, there was a sort of frenzied excitement about it. As if everyone was celebrating being alive-before it was too late. It turned into rowdiness as parents surged forward and the senior class of Robert E. Lee fragmented in all directions, whooping and acting up. Bonnie retrieved her cap and then looked up into her mother's camera lens. Act normal, that's what's important, she told herself. She caught a glimpse of Elena's aunt Judith and Robert Maxwell, the man Aunt Judith had recently married, standing on the sidelines. Robert was holding Elena's little sister, Margaret, by the hand. When they saw her, they smiled bravely, but she felt uncomfortable when they came her way. â€Å"Oh, Miss Gilbert-I mean, Mrs. Maxwell-you shouldn't have,† she said as Aunt Judith handed her a small bouquet of pink roses. Aunt Judith smiled through the tears in her eyes. â€Å"This would have been a very special day for Elena,† she said. â€Å"I want it to be special for you and Meredith, too.† â€Å"Oh, Aunt Judith.† Impulsively, Bonnie threw her arms around the older woman. â€Å"I'm so sorry,† she whispered. â€Å"You know how much.† â€Å"We all miss her,† Aunt Judith said. Then she pulled back and smiled again and the three of them left. Bonnie turned from looking at them with a lump in her throat to look at the madly celebrating crowd. There was Ray Hernandez, the boy she'd gone to Homecoming with, inviting everybody to a party at his house that night. There was Tyler's friend Dick Carter, making a fool of himself as usual. Tyler was smiling brazenly as his father took picture after picture. Matt was listening, with an unimpressed look, to some football recruiter from James Mason University. Meredith was standing nearby, holding a bouquet of red roses and looking pensive. Vickie wasn't there. Her parents had kept her home, saying she was in no state to go out. Caroline wasn't there either. She was staying in the apartment in Heron. Her mother had told Bonnie's mother she had the flu, but Bonnie knew the truth. Caroline was scared. And maybe she's right, Bonnie thought, moving toward Meredith. Caroline may be the only one of us to make it through next week. Look normal, act normal. She reached Meredith's group. Meredith was wrapping the red-and-black tassel from her cap around the bouquet, twisting it between elegant, nervous fingers. â€Å"Be careful with that; you'll ruin it,† she said aloud. Meredith's look of thoughtful melancholy didn't change. She went on staring at the tassel, kinking it up. â€Å"It doesn't seem fair,† she said, â€Å"that we should get these and Elena shouldn't. It's wrong.† â€Å"I know; it's awful,† Bonnie said. But she kept her tone light. â€Å"I wish there was something we could do about it, but we can't.† â€Å"It's all wrong,† Meredith went on, as if she hadn't heard. â€Å"Here we are out in the sunlight, graduating, and there she is under that-stone.† â€Å"I know, I know,† Bonnie said in a soothing tone. â€Å"Meredith, you're getting yourself all upset. Why don't you try to think about something else? Look, after you go out to dinner with your parents, do you want to go to Raymond's party? Even if we're not invited, we can crash it.† â€Å"No!† Meredith said with startling vehemence. â€Å"I don't want to go to any party. How can you even think of that, Bonnie? How can you be so shallow?† â€Å"Well, we've got to do something †¦Ã¢â‚¬  â€Å"I'll tell you what I'm doing. I'm going up to the cemetery after dinner. I'm going to put this on Elena's grave. She's the one who deserves it.† Meredith's knuckles were white as she shook the tassel in her hand. â€Å"Meredith, don't be an idiot. You can't go up there, especially at night. That's crazy. Matt would say the same thing.† â€Å"Well, I'm not asking Matt. I'm not asking anybody. I'm going by myself.† â€Å"You can't. God, Meredith, I always thought you had some brains-â€Å" â€Å"And I always thought you had some sensitivity. But obviously you don't even want to think about Elena. Or is it just because you want her old boyfriend for yourself?† Bonnie slapped her. It was a good hard slap, with plenty of energy behind it. Meredith drew in a sharp breath, one hand to her reddening cheek. Everyone around them was staring. â€Å"That's it for you, Bonnie McCullough,† Meredith said after a moment, in a voice of deadly quiet. â€Å"I don't ever want to speak to you again.† She turned on her heel and walked away: â€Å"Never would be too soon for me!† Bonnie shouted at her retreating back. Eyes were hastily averted as Bonnie looked around her. But there was no question that she and Meredith had been the center of attention for several minutes past. Bonnie bit the inside of her cheek to keep a straight face and walked over to Matt, who had lost the recruiter. â€Å"Good.† â€Å"Do you think the slap was too much? We didn't really plan that; I was just sort of going with the moment. Maybe it was too obvious†¦Ã¢â‚¬  â€Å"It was fine, just fine.† Matt was looking preoccupied. Not that dull, apathetic, turned-in look of the last few months, but distinctly abstracted. â€Å"What is it? Something wrong with the plan?† Bonnie said. â€Å"No, no. Listen, Bonnie, I've been thinking. You were the one to discover Mr. Tanner's body in the Haunted House last Halloween, right?† Bonnie was startled. She gave an involuntary shiver of distaste. â€Å"Well, I was the first one to know he was dead, really dead, instead of just playing his scene. Why on earth do you want to talk about that now?† â€Å"Because maybe you can answer this question. Could Mr. Tanner have got a knife in Damon?† â€Å"What?† â€Å"Well, could he?† â€Å"I†¦Ã¢â‚¬  Bonnie blinked and frowned. Then she shrugged. â€Å"I suppose so. Sure. It was a Druid sacrifice scene, remember, and the knife we used was a real knife. We talked about using a fake one, but since Mr. Tanner was going to be lying right there beside it, we figured it was safe enough. As a matter of fact†¦Ã¢â‚¬  Bonnie's frown deepened. â€Å"I think when I found the body, the knife was in a different place from where we'd set it in the beginning. But then, some kid could have moved it. Matt, why are you asking?† â€Å"Just something Damon said to me,† Matt said, staring off into the distance again. â€Å"I wondered if it could be the truth.† â€Å"Oh.† Bonnie waited for him to say more, but he didn't. â€Å"Well,† she said finally, â€Å"if it's all cleared up, can you come back to Earth, please? And don't you think you should maybe put your arm around me? Just to show you're on my side and there's no chance you're going to show up at Elena's grave tonight with Meredith?† Matt snorted, but the faraway look disappeared from his eyes. For just a brief instant he put his arm around her and squeezed. D..j. vu, Meredith thought as she stood at the gate to the cemetery. The problem was, she couldn't remember exactly which of her previous experiences in the graveyard this night reminded her of. There had been so many. In a way, it had all started here. It had been here that Elena had sworn not to rest until Stefan belonged to her. She'd made Bonnie and Meredith swear to help her, too -in blood. How suitable, Meredith thought now. And it had been here that Tyler had assaulted Elena the night of the Homecoming dance. Stefan had come to the rescue, and that had been the beginning for them. This graveyard had seen a lot. This graveyard had been the beginning, and the end as well. And maybe there would be another end tonight. Meredith started walking. I wish you were here now, Alaric, she thought. I could use your optimism and your savvy about the supernatural-and I wouldn't mind your muscles, either. Elena's headstone was in the new cemetery, of course, where the grass was still tended and the graves marked with wreaths of flowers. The stone was very simple, almost plain looking, with a brief inscription. Meredith bent down and placed her bouquet of roses in front of it. Then, slowly, she added the red-and-black tassel from her cap. In this dim light, both colors looked the same, like dried blood. She knelt and folded her hands quietly. And she waited. All around her the cemetery was still. It seemed to be waiting with her, breath held in anticipation. The rows of white stones stretched on either side of her, shining faintly. Meredith listened for any sound. And then she heard one. Heavy footsteps. With her head down, she stayed quiet, pretending she noticed nothing. The footsteps sounded closer, not even bothering to be stealthy. â€Å"Hi, Meredith.† Meredith looked around quickly. â€Å"Oh-Tyler,† she said. â€Å"You scared me. I thought you were-never mind.† â€Å"Yeah?† Tyler's lips skinned back in an unsettling grin. â€Å"Well, I'm sorry you're disappointed. But it's me, just me and nobody else.† â€Å"What are you doing here, Tyler? No good parties?† â€Å"I could ask you the same question.† Tyler's eyes dropped to the headstone and the tassel and his face darkened. â€Å"But I guess I already know the answer. You're here for her. Elena Gilbert, A Light in Darkness,† he read sarcastically. â€Å"That's right,† Meredith said evenly. † ‘Elena' means light, you know. And she was certainly surrounded by darkness. It almost beat her, but she won in the end.† â€Å"Maybe,† Tyler said, and worked his jaw meditatively, squinting. â€Å"But you know, Meredith, it's a funny thing about darkness. There's always more of it waiting in the wings.† â€Å"Like tonight,† Meredith said, looking up at the sky. It was clear and dotted with faint stars. â€Å"It's very dark tonight, Tyler. But sooner or later the sun will come up.† Just like he showed Elena, Meredith thought. In a way she was enjoying this verbal fencing, but she never lost sight of what she had come here for. Her cold fingers dipped into her jacket pocket and found the tiny sprig of vervain there. â€Å"That's all right, Tyler. I think I'd prefer to stay here.† â€Å"You sure about that? A cemetery's a dangerous place to be alone.† Unquiet spirits, Meredith thought. She looked right at him. â€Å"I know.† He was grinning again, displaying teeth like tombstones. â€Å"Anyway, you can see it from here if you have good eyes. Look that way, toward the old graveyard. Now, do you see something sort of shining red in the middle?† â€Å"No.† There was a pale luminosity over the trees in the east. Meredith kept her eyes on it. â€Å"Aw, come on, Meredith. You're not trying. Once the moon's up you'll see it better.† â€Å"Tyler, I can't waste any more time here. I'm going.† â€Å"No, you're not,† he said. And then, as her fingers tightened on the vervain, encompassing it in her fist, he added in a wheedling voice, â€Å"I mean, you're not going until I tell you the story of that headstone, are you? It's a great story. See, the headstone is made of red marble, the only one of its kind in the whole graveyard. And that ball on top-see it?-that must weigh about a ton. But it moves. It turns whenever a Smallwood is going to die. My grandfather didn't believe that; he put a scratch on it right down the front. He used to come out and check it every month or so. Then one day he came and found the scratch in the rear. The ball had turned completely backward. He did everything he could to turn it around, but he couldn't. It was too heavy. And that night, in bed, he died. They buried him under it.† â€Å"He probably had a heart attack from overexertion,† Meredith said caustically, but her palms were tingling. â€Å"You're funny, aren't you? Always so cool. Always so together. Takes a lot to make you scream, doesn't it?† â€Å"I'm leaving, Tyler. I've had enough.† He let her walk a few paces, then said, â€Å"You screamed that night at Caroline's, though, didn't you?† Meredith turned back. â€Å"How do you know that?† Tyler rolled his eyes. â€Å"Give me credit for a little intelligence, okay? I know a lot, Meredith. For instance, I know what's in your pocket.† Meredith's fingers stilled. â€Å"What do you mean?† Meredith backed away a step. â€Å"You think that's going to help you, don't you? But I'm going to tell you a secret.† Meredith's eyes measured the distance between herself and the path. She kept her face calm, but a violent shaking was beginning inside her. She didn't know if she was going to be able to pull this off. â€Å"You're not going anywhere, babe,† Tyler said, and a large hand clasped Meredith's wrist. It was hot and damp where she could feel it below her jacket cuff. â€Å"You're going to stay right here for your surprise.† His body was hunched now, his head thrust forward, and there was an exultant leer on his lips. â€Å"Let me go, Tyler. You're hurting me!† Panic flashed down all Meredith's nerves at the feel of Tyler's flesh against hers. But the hand only gripped harder, grinding tendon against bone in her wrist. â€Å"This is a secret, baby, that nobody else knows,† Tyler said, pulling her close, his breath hot in her face. â€Å"You came here all decked out against vampires. But I'm not a vampire.† Meredith's heart was pounding. â€Å"Let go!† â€Å"First I want you to look over there. You can see the headstone now,† he said, turning her so that she couldn't help but look. And he was right; she could see it, like a red monument with a shining globe on top. Or-not a globe. That marble ball looked like†¦ it looked like†¦ â€Å"Now look east. What do you see there, Meredith?† Tyler went on, his voice hoarse with excitement. It was the full moon. It had risen while he'd been talking to her, and now it hung above the hills, perfectly round and enormously distended, a huge and swollen red ball. And that was what the headstone looked like. Like a full moon dripping with blood. â€Å"You came here protected against vampires, Meredith,† Tyler said from behind her, even more hoarsely. â€Å"But the Smallwoods aren't vampires at all. We're something else.† And then he growled. No human throat could have made the sound. It wasn't an imitation of an animal; it was real. A vicious guttural snarl that went up and up, snapping Meredith's head around to look at him, to stare in disbelief. What she was seeing was so horrible her mind couldn't accept it†¦ â€Å"I told you it was a surprise. How do you like it?† Tyler said. His voice was thick with saliva, and his red tongue lolled among the rows of long canine teeth. His face wasn't a face anymore. It jutted out grotesquely into a muzzle, and his eyes were yellow, with slitlike pupils. His reddish-sandy hair had grown over his cheeks and down the back of his neck. A pelt. â€Å"You can scream all you want up here and nobody's going to hear you,† he added. Every muscle in Meredith's body was rigid, trying to get away from him. It was a visceral reaction, one she couldn't have helped if she wanted to. His breath was so hot, and it smelled feral, like an animal. The nails he was digging into her wrist were stumpy blackened claws. She didn't have the strength to scream again. â€Å"There's other things besides vampires with a taste for blood,† Tyler said in his new slurping voice. â€Å"And I want to taste yours. But first we're going to have some fun.† Although he still stood on two feet, his body was humped and strangely distorted. Meredith's struggles were feeble as he forced her to the ground. She was a strong girl, but he was far stronger, his muscles bunching under his shirt as he pinned her. â€Å"You've always been too good for me, haven't you? Well, now you're going to find out what you've been missing.† I can't breathe, Meredith thought wildly. His arm was across her throat, blocking her air. Gray waves rolled through her brain. If she passed out now†¦ â€Å"You're going to wish you died as fast as Sue.† Tyler's face floated above her, red as the moon, with that long tongue lolling. His other hand held her arms above her head. â€Å"You ever hear the story of Little Red Riding Hood?† The gray was turning into blackness, speckled with little lights. Like stars, Meredith thought. I'm falling in the stars†¦ â€Å"Tyler, take your hands off her! Let go of her, now!† Matt's voice shouted. Tyler's slavering snarl broke off into a surprised whine. The arm against Meredith's throat released pressure, and air rushed into her lungs. Footsteps were pounding around her. â€Å"I've been waiting a long time to do this, Tyler,† Matt said, jerking the sandy-red head back by the hair. Then Matt's fist smashed into Tyler's newly grown muzzle. Blood spurted from the wet animal nose. The sound Tyler made froze Meredith's heart in her chest. He sprang at Matt, twisting in midair, claws outstretched. Matt fell back under the assault and Meredith, dizzy, tried to push herself up off the ground. She couldn't; all her muscles were trembling uncontrollably. But someone else picked Tyler off Matt as if Tyler weighed no more than a doll. â€Å"Just like old times, Tyler,† Stefan said, setting Tyler on his feet and facing him. Tyler stared a minute, then tried to run. He was fast, dodging with animal agility between the rows of graves. But Stefan was faster and cut him off. Stefan was dragging Tyler back. â€Å"I always knew you were a jerk,† he said, shoving Tyler against a headstone, â€Å"but I didn't know you were this stupid. I'd have thought you would have learned not to jump girls in graveyards, but no. And you had to brag about what you did to Sue, too. That wasn't smart, Tyler.† Meredith looked at them as they faced each other. So different, she thought. Even though they were both creatures of darkness in some way. Stefan was pale, his green eyes blazing with anger and menace, but there was a dignity, almost a purity about him. He was like some stern angel carved in unyielding marble. Tyler just looked like a trapped animal. He was crouched, breathing hard, blood and saliva mingling on his chest. Those yellow eyes glittered with hate and fear, and his fingers worked as if he'd like to claw something. A low sound came out of his throat. â€Å"Don't worry, I'm not going to beat you up this time,† Stefan said. â€Å"Not unless you try to get away. We're all going up to the church to have a little chat. You like to tell stories, Tyler; well, you're going to tell me one now.† Tyler sprang at him, vaulting straight from the ground for Stefan's throat. But Stefan was ready for him. Meredith suspected that both Stefan and Matt enjoyed the next few minutes, working off their accumulated aggressions, but she didn't, so she looked away. In the end, Tyler was trussed up with nylon cord. He could walk, or shuffle at least, and Stefan held the back of his shirt and guided him urgently up the path to the church. Inside, Stefan pushed Tyler onto the ground near the open tomb. â€Å"Now,† he said, â€Å"we are going to talk. And you're going to cooperate, Tyler, or you're going to be very, very sorry.†

Agricultural biology

Agriculture is a branch of biology that studies the wide scope of crops like rice, corn, cassava, etc. and its practical applications. Enormous issues related to agriculture have been raised daily by the community and some analysts. The most controversial among these is the continuing struggle of every nation on food shortage.Just last May, the issue about â€Å"rice shortage† alarmed the entire world including the United States of America. Rice producers and manufacturers jacked up the price of rice as an immediate response to the crisis. It must be clear though that rice or food shortage is also a global concern, may it be caused by the unusual climate changes or even the agriculture itself.  In an audio podcast of â€Å"A Farmers View on Food Shortage†, the speaker emphasizes that the food crisis could be brought by global warming and industrialization.This global warming could produce inconsistent climate conditions which affect weather patterns that may prolong d rought and cool seasons leading to a massive starvation even in the United States because of food crisis.On the latter part of the podcast, David Rai advises that in order to sustain and survive from the food crisis that the people are now facing, they must learn to conserve the use of rice by means of eating fruits, vegetables, and the like although rice has been considered by many as a staple food, highly demanded.The issue of rice, an agricultural aspect of biology, catches the attention of the people at large since it has been considered as the food of life among the greater half of the population located anywhere in the world. But whether or not the problem is about rice shortage or food crisis, the ones to blame are the people themselves and are expected to respond to this problem.And in order to conserve the supply of an agricultural crop like rice, these people should be guided to increase the production of rice, and provide agricultural assistance to those who are in dire n eed of the basic food of life, â€Å"rice.†

Eastboro Corporation

Eastboro Corporation STATEMENT OF THE PROBLEMAlthough this case presents several different issues to consider, the underlying problem is the correct implementation of Eastboro's dividend policy. Eastboro was founded as a manufacturer of machine parts, and has traditionally paid a fairly substantial dividend. However, in recent years, the core focus of the company has shifted toward technology in the fields of computer-aided design and manufacturing, highlighted by its latest development, Artificial Workforce.This shift in the focus of Eastboro has brought about some financial changes as well. With revenues falling, they have missed two quarters' worth of dividend payments, and have promised to try to begin repayment of them by the end of 2001. However, to do this, they may need to borrow money, not only in 2001, but in the next several years. Eastboro has always been debt averse, so this is an unsettling prospect for them. There are several options being discussed, such as a zero-dividend payout, a 40% p ayout, and a residual payout policy.Father's Little DividendThis major issue, as well as what direction the firm is going, and whether that corresponds to the wishes of current shareholders are the main issues needing to be addressed by Ms. Campbell.FACTSCurrent dividend policy = 40%Attacks on World Trade Center and Pentagon occurred one week priorStock has fallen 18% since attacksFirm has committed itself to resuming dividend payout, presumably in 2001Potential name change to Eastboro Advanced Systems International, Inc.Rated as an "A" company by Value LineRecent decline in net revenues and profit marginsFuture international growth is expectedInvolved in high cyclical environmentGDP expected to fall from 4% to 1.6%Largest % of individual investors are focused on retirement needsLargest % of institutional investors are value-orientedManagement expects growth of 15%CAD/CAM and...

Dead Man Walking Review essays

Dead Man Walking Review essays In the novel Dead Man Walking, Sister Helen Prejean, was asked to correspond with Pat Sonnier, a man sentenced to die by electric chair for the murder of two teen- agers, which he did not commit. Dead Man Walking, gives a moving account of her spiritual journey as she became knowledgeable about our system of capital punishment through her involvement in the lives and deaths of several convicted murderers, their families, the families of their victims and the people whose job it is to carry out executions. Sister Helen brings a profound compassion to all the people she meets, reflecting on her experiences from an engaged Christian perspective. She helps the two death row inmates by loving them even though society despises them. The soul of a man is reached and articulated through the assumption of those who love without judgment. Sister Helen's novel is a classic example of the practice of attentive love, and of its consequences. Throughout the novel, Sister Helen quotes Albert Camus extensively on resistance to the death penalty. The soul comes into articulation not through the discipline of punishment, but through the practice of love, a process that the death penalty may initiate. When a human being is being subjugated to the power of the state, he may enter into a religious functionary willing to be attentive to his needs for companionship. In that exchange lies the possibility of construction-maybe the reconstruction-of the soul. Her description of the relationship that developed between herself, Patrick Sonnier, and Robert Willie, whom she is able to touch and love, is clear testimony to the expression that is given thereby to the souls. "I have never known real love," Patrick Sonnier tells Sister Helen: " 'It's a shame a man has to come to prison to find love.' He looks up and says, 'Thanks for loving me'" . By loving Patrick Sonnier, Sister Helen ...

The History of Calculators and William Seward Burroughs

The History of Calculators and William Seward Burroughs Determining who invented the calculator and when the first calculator was created is not as easy as it seems. Even in pre-historic times, bones and other objects were used to calculate arithmetic functions. Long afterward came mechanical calculators, followed by electrical calculators and then their evolution into the familiar but not-so-ubiquitous-anymore handheld calculator. Here, then, are some of the milestones and prominent figures who played a role in the development of the calculator through history. Milestones and Pioneers The Slide Rule:   Before we had calculators we had slide rules. In 1632, the circular and rectangular slide rule was invented by W. Oughtred (1574-1660).   Resembling a standard ruler, these devices allowed users to multiply, divide, and calculate roots and logarithms. They were not typically used for addition or subtraction, but they were commonplace sights in school rooms and workplaces well into the 20th century.   Mechanical Calculators William Schickard (1592 - 1635):  According to his notes, Schickard succeeded in designing and building the first mechanical calculating device. Schickard’s accomplishment went unknown and unheralded for 300 years, until his notes were discovered and publicized, so it was not until Blaise Pascal’s invention gained widespread notice that mechanical calculation came to the public’s attention.   Blaise Pascal (1623 - 1662): Blaise Pascal invented one of the first calculators, called the Pascaline, to help his father with his work collecting taxes. An improvement on Schickard’s design, it nevertheless suffered from mechanical shortcomings and higher functions required repetitive entries. Electronic Calculators William Seward Burroughs (1857 – 1898): In 1885, Burroughs filed his first patent for a calculating machine. However, his 1892 patent was for an improved calculating machine with an added printer.   The Burroughs Adding Machine Company, which he founded in St. Louis, Missouri, went on to great success popularizing the inventor’s creation. (His grandson, William S. Burroughs enjoyed great success of a far different kind, as a Beat writer.)

IP_WK1_MR Essay Example | Topics and Well Written Essays - 500 words

IP_WK1_MR - Essay Example However, I believe that learning accounting is an imperative in being a part of any business organization just as it is for any company—no matter what size, industry it belong to, and whether it is profit-oriented or for other purposes. My professional goal is to build a career in marketing that, which I cannot excel in without the knowledge of accounting equation and the effects of various transactions in each of the company’s income statement and balance sheet accounts. I now believe that all departments and all employees should work hand-in-hand with the finance department in order to ensure that financial goals are being met. A sound knowledge of the different financial statements will enable an employee to have a clear understanding of where the fund goes, how money is provided by different activities, if salaries could be increased, and even the level of assets that the company has. As a person hoping to work in the marketing department, accounting knowledge will enable me to assess whether a newly launched brand is realizing the targeted level of sales. Accounting will also enable me to evaluate the profitability of the different brands by understanding the relationship between revenue and costs. It will also enable me to understand which drives costs in the company and be able to respond to this by efficient cost management. An understanding of the financial statements also allows me to recognize which brands to launch with the knowledge of how each will affect the company’s accounts. I believe that marketing plans should always be accompanied by comprehensive budgets which detail how sales will grow in the period, which assets to utilize, and the level of inventories. Thus, a good marketer should be knowledgeable and skilled in accounting in order to make the most profitable and best decision. I have realized that financial problems be only detected b y finance guys but every department should be able

Internal Marketing Essay Example | Topics and Well Written Essays - 3000 words

Internal Marketing - Essay Example (Tathman, 1978, no page) Creating an enabling kind of culture. This is only done when each and every employee is empowered by their management when they allow innovation, creativity and when they allow different kinds of initiatives and take further responsibilities. Ensuring rewards. Each and every kind of an organization must ensure that they are providing their customers and their employees the best thing and along with this when their employees perform well then they should reward them with extra amount, or with extra bonus. Fairness during hard period. There should be a fair treatment when employees are working together they should be treated equally so that they can perform better in an organization and when the performance improves, then automatically they will generate good results. When different people are working together in an organization they are thus there to perform in the most efficient manner. They should thus work very hard in order to generate the best results so that their organization can be prosper and remain competitive. (Tathman, 1978, no page) Internal marketing along with all its activities encourages their employee to perform better and more efficiently. Internal Marketing leads their employees to empower, give them a form of accountability and create a common mean and a common way of understanding their business organization. IM helps to encourage employees in order to offer superb service to all their clients by appreciating their valuable kind of contribution towards the successes of their business, it also helps the non marketing staff in order to learn and make them able in order to perform different forms of staff in the marketing field. It helps in improving the customer retention as well and in the development of the employees of the organization. (Tathman, 1978, no page) Along with this internal marketing integrates the business structure, business culture, the human resource management, social and professional needs and the strategies and vision of the employees. It helps in creating good cooperation and good coordination among the departments of their business. Following are some problems, which effect the implementation of an internal marketing Interpersonal managerial incompetence, the conceptual and technical skills are some of the hard blocks against the successful internal marketing. The poor understanding of all the concepts of an internal marketing. Different types of conflicts, which occurs between individuals and between the departments. Internal marketing is termed as an important tool for implementation. It helps a lot in communication and apart from this it also helps a lot to overcome any kind of resistance for any kind of change. Internal Marketing informs and involves all the staff members in any kind of new initiatives and in all the kind of

Toulmin Argumentation Essay Example | Topics and Well Written Essays - 750 words

Toulmin Argumentation - Essay Example The No Child Left Behind Act of 2001 is an example of the steps that the government has made in order to broaden the workforce in the military. It is an act requiring all public school teachers to be highly qualified by way of showing subject knowledge for their teaching level (Berkhart 104). While this act seems to be a very objective and a well-structured plan, the news regarding the number of students who are passing the military exams are alarming. According to Fox News, one in every four students who took the basic military exam – which is basic math, science and reading questions – has received a failing mark. It is for this reason that the military should be allowed, and thus, intensify their efforts of trying to recruit high schools in military. Also, Amy Wilkins, the vice president of the nonprofit Education Trust, such incident only gives us the chance to take a look at the civilian workforce. The result of the exam only shows that if the students were not rea dy for the military jobs, then they are most likely not also ready for the work in the civilian community. At this rate, the military should really be alarmed most especially if the choices they have are slowly diminishing by the number. With the concern of the student’s welfare, however, some are saying that the military has become more violent in pushing the students to apply for the Army. While on the other hand, some are saying that the military are only there, giving them the opportunity to guide them on what path to take. There are still some schools that are very professional when it comes to the area of recruitment (Trousdale 42). It can also be stated that the reason why some students feel that they are being pushed by the military is because they are not yet really ready to be of service to the Army. Being in high school, they still want to experience the freedom, and be carefree in anything they do. And to most students, being in the military is like imprisoning yo urself to so much discipline that the only way to become free again is to quit. But then again, as what Amy Wilkins has stated, if high school students are not yet ready for the challenges that the military is offering, then they are not even more ready for the challenges in the real world. Recruiting is a part of every organization. Of course, in order to maintain a number of members, recruitment is the key. And in this case, military serves as the national defense of the community. They are the ones who will fight for the country’s safety, and thus, their numbers should be tightened, let alone be increased. And not only that, the Army really needs a workforce that is educated and motivated so that they can defend the country real well. Recruiting is not about forcing these kids to go into war, but rather, opening their minds to the possible career opportunity in the military world. In fact, getting into military might be the best way to get them a college education. Another benefit from recruiting is that they implement motivation for the students to strive and work hard. They also encourage them to be disciplined by telling their own stories. By this, anyone can clearly see that the students are not being forced to join the military but is only facilitating the possibility of them joining the Army. After all, every one of us has their own free will and kids nowadays are smart enough to know what they really want in their life. It is never wrong to

Art History Assignment Example | Topics and Well Written Essays - 1250 words

Art History - Assignment Example Honore Daumier’s â€Å"Third-Class Carriage† was precisely a demonstration of social commentary. It was one thing that he just happened to accomplish with this painting. It was very common of Daumier as a trained lithographer to create paintings that were generally biting social commentary. It is because of his experiences during which the classes were divided. The culture that helped produce this was France because of the chaotic mess in the country that occurred politically, socially and in many other aspects of a French culture. He had the ability to use art to literally do just that. Michaelangelo who did most of his work in Italy was working in the Vatican City, the headquarters of the Catholic people during a time when Protestantism was on the rise. It was a method of providing an elite painting on the dome of a building in ways that had never before been accomplished. It suggests that the Catholic religion is also one of elitism. Girodet was a student of Davidâ⠂¬â„¢s and he went on to create the â€Å"Burial of Atalia,† which was a painting from the Romantic time frame. Another student of his was Antoine Jean Gros who painted â€Å"Napoleon at the Pest House of Jaffa.† During this time in Europe, while using neo-classicism, there was a use of harmony, proportion, and simplicity in order to create the paintings. Romanticism had a slightly different aesthetic theme but both artists were able to use the methods that they had learned under David and transition them to the work that was typical of the Romantic art period.

Public health Essay Example | Topics and Well Written Essays - 500 words - 7

Public health - Essay Example The noxious smokes produced by gasoline grass mowers are toxic and very harmful to both the environment and to the populaces (Williams & Thompson, 2010). Reports on those fumes emitted by the use of the machine are certainly correct. According to the investigation carried out in 2001 by the Sweden, air pollution as a result of cutting grass for about one hour by use of gasoline mechanized mower is very high. The pollution is about the similar as that resulting from the 100 mile car travel. According to the American environmental guarding organization, 54 million citizens cutting their grass every weekend with the gas-powered machines might be adding as much as 5% of the county’s air contamination. It also outlined that a new gas motorized grass cutter machine release nitrogen oxide and organic compounds in one hour of work. The contamination is identical to that produced by 11 new vehicles that are compelled in one hour (Lamarre, 2004). The problem with the use of small engines contributes to large toxic waste challenges. Small engines are believed to produce disproportionately great amounts of volatile organic compound, nitrogen oxides and carbon monoxide that add to smog. The issue of the high pollution rates related to the use of small grass mowers is a controversial issue. The human health consequences of pollution-laden atmosphere have increased dangers of asthma attacks, inflammation and injuries to the lungs and lesser amounts of oxygen in the blood stream. The reduced amount of oxygen the bloodstream can worsen heart conditions leading to fatalities in the long run. Solution: the utilization of the gas powers is not the only alternative to minimize pollution. Eco-conscious clients looking for new machines should consider electric replicas that are currently available in the market. The electric model is most efficient and has less if not negative impacts on human health and to the surrounding (Lamarre, 2004). The

Art History Assignment Example | Topics and Well Written Essays - 1250 words

Art History - Assignment Example Honore Daumier’s â€Å"Third-Class Carriage† was precisely a demonstration of social commentary. It was one thing that he just happened to accomplish with this painting. It was very common of Daumier as a trained lithographer to create paintings that were generally biting social commentary. It is because of his experiences during which the classes were divided. The culture that helped produce this was France because of the chaotic mess in the country that occurred politically, socially and in many other aspects of a French culture. He had the ability to use art to literally do just that. Michaelangelo who did most of his work in Italy was working in the Vatican City, the headquarters of the Catholic people during a time when Protestantism was on the rise. It was a method of providing an elite painting on the dome of a building in ways that had never before been accomplished. It suggests that the Catholic religion is also one of elitism. Girodet was a student of Davidâ⠂¬â„¢s and he went on to create the â€Å"Burial of Atalia,† which was a painting from the Romantic time frame. Another student of his was Antoine Jean Gros who painted â€Å"Napoleon at the Pest House of Jaffa.† During this time in Europe, while using neo-classicism, there was a use of harmony, proportion, and simplicity in order to create the paintings. Romanticism had a slightly different aesthetic theme but both artists were able to use the methods that they had learned under David and transition them to the work that was typical of the Romantic art period.

International Context of HRM- Individual Project (3000 words) Essay

International Context of HRM- Individual Project (3000 words) - Essay Example 2008). This approach, the authors claim, does not negate Hofstede’s four-dimensional approach to categorize a particular culture (G. Hofstede, The cultural relativity of organizational practices and theories 1983) but actually supplements it. The authors are firmly of the opinion that mere judging a culture through the prism of Hofstede’s matrix would hardly provide a proper perspective for an international manager. A reasonable knowledge of bilateral history is also extremely necessary to successfully overcome deep seated prejudices, biases and negative stereotypes that seem to cloud judgment in a very big way among participating groups. However, Hofstede’s cultural matrix, which is further crystallized into cultural distance (Kogut & Singh, 1988), surely remains one of the most influential guidelines on this issue. Theories of Hofstede and Trompenaars compared and contrasted with reference to other relevant theories Gerard Hofstede’s Value Survey Model c lassifies cultures with reference to four dimensions that are power distance, uncertainty avoidance, and individuality versus collectivism and masculinity versus femininity (Hofstede, The cultural relativity of organizational practices and theories 1983). Trompenaars on the other hand offers an analytical framework based on seven criterions that are: universalistic versus particularistic, neutral versus affective, specific versus diffuse, achievement versus ascription, individualism versus communitarianism and attitudes towards time and the environment (Trompenaars 1994). Out of these seven dimensions, at least two seem to closely replicate Hofstede’s concept of individuality versus collectivism while somewhat resembling the concept of power distance. Trompenaars’ description of how an individual is accorded status in a society has a close link to Hofstede’s power distance index if one assumes that status is accorded more due to nature rather than achievement. H owever, the match is not exact as Hofstede also dwells at length on acceptable power distances within a society, an issue that is not discussed by Trompenaars at all. Further, the neutral versus affective criterion postulated by Trompenaars is more of a behavioural feature rather than a criterion itself. The extent to which an individual would express their feelings is more of a dependent on other aspects of a culture instead of being in aspect by itself. Trompenaars’ universalistic versus particularistic aspect that is reflected in a preference for rules and stipulations rather understanding and trust resembles both uncertainty avoidance criterions to a large extent while at the same time having some similarity with individuality versus collectivism as espoused by Hofstede. However, the specific versus diffuse aspect of Trompenaars has no direct parallel in Hofstede’s cultural dimensions. Trompenaars’ criterion of attitudes towards

Apollo 13 Essay Example for Free

Apollo 13 Essay For those not old enough to have lived through it, a story of shooting for a landing on the moon, suffering an explosion on the spacecraft on the way to the moon, not landing on the moon, and then narrowly making it home to Earth is the story of Apollo 13. When facing issues, conflicts, and the attainment of goals, having the resources of a fully functional manager and team are irreplaceable. A manager that has clear goals and strategies in place is more likely to succeed even when faced with the greatest types of adversity. Every employee of NASA should know about the tragic event of Apollo 13. The background of the team began with the completion between the U. S. and Russia and their space exploration programs. What started out as a routine trip to the moon and back soon became one of the biggest crises NASA had ever experienced. From understanding the plight of the spacecraft, to knowing what needed to be done, to creating a CO2 converter out of materials only available on the spacecraft, the flight is a clear lesson on how to manage a team in a crisis. In many projects, it always comes back to a stressful situation, where quick decisions must be made which have a major impact on the achievement of the task at hand. Many managers often ask for advice on how to handle such situations in order to be a good leader and achieve maximum results. In order to be an effective manager and to be able to influence other and exercise high degrees of control, some rules should be followed. I will give a few examples of how Gene Kranz managed to promote teamwork and to achieve the best possible solutions despite unprecedented problems, lack or resources and time pressure. One must remain optimistic and believe in themselves and the team to achieve a set goal. Without personal convictions managers will not be able to motivate the team to developed new solutions, continue to working and foster collaboration. Gene demonstrated principled management and a leadership in demanding the best from his team while respecting their efforts no matter the outcome. One great thing about Gene’s management was that is set a standard of excellence. With statements like â€Å"I don’t care about what anything was meant to do, I care about what it can do. This set in motion self-management by various supporting teams. This shows us important lessons that we can apply to other environments. Make sure to clearly identify roles and responsibilities of each and every team member. Communication is also a key in managing a team effectively. In the movie one of the team members unplugs his TV and takes his phone off the hook which cost everyone value time and inpu t in solving this crisis. Managers should make sure they can get in touch with employees. Create a policy if you must. An over authoritarian style of management with a top down principal is sometimes inappropriate. Managers often give instructions, tasks and fiat without asking the employee for their opinion. In contrast managers with a cooperative democratic style of management involve employees in decision making. Decisions are taken after detailed discussion in working groups. Information should be forwarded to a great extent through all communication channels. Gene Kranz was drawing at the board and listened to his team and their suggestions. And they all discussed the suggestions together. Without this democratic management style of Gene Kranz, the team would not have been as successful. Another issue is to work the problem correctly. Defining the problem is the hardest part of problem solving. As a manager it is important to define and communicate the problems which must be solved. Otherwise, no team will be able to find suitable solutions. Gene Kranz identified all the problems and formed special teams to address them. He made it clear to the teams which objects could be used. Only the objects that were available to the astronauts could be used. He wasted no time in complaining about what objects were not available or missing to solve the problem. He was action oriented and emphasized problem solving. It is also important to be a visible manager or leader. A good manager shoulders responsibility and conveys to all team members that they will work through the problem. Another trait of an effective manager is respect for others. Too often in today’s corporate environment, we don’t respect the judgment of those actually doing the work. Moreover, a crisis is not a time for accusations. The primary objective should be to handle the situation together and make the best of it. Gene Kranz did not ask at any time after the explosion, how such an explosion could have happened. Neither the astronauts nor Mission Control would have benefitted from the discussion of guilt, creative problem solving was much more important. In spite of all the negative talk, Gene told them failure was not an option, and they did not fail. Building trust must be combined with effective communication. Its benefit was evident in the film through the obstacles the team overcame. As a team grows together through strong management, their level of trust to achieve a collective goal, individuality becomes less important and the team’s objective is placed in the forefront. Action orientation becomes second nature, and feedback is open and honest. Combined, these improve the overall success and functionality of the manager, employee relationship. Finally, nobody wants to experience crisis such as the one in Apollo 13, however there will always be unpredictable problems and managers will have to challenge the situations. An effective manager should place themselves in Gene Kranz’s place for internalizing his way of leading a team. In addition, difficult situations that happen in the past should be analyzed for developing suggestions for managers to learn how to act in prospective situations. Every crisis is unique and demands an individual solution but for learning how to find the best solution, act right as a manager and motivate your team. Being successful and solving problems in a creative way is just but one aspect of being an effective manager and leader for your team.

Basic Concepts Of Phytoremediation Environmental Sciences Essay

Basic Concepts Of Phytoremediation Environmental Sciences Essay Contamination of soil in oil refinery has been an environmental issue of modern industrialization in many countries. The main reason for this contamination is the contaminated products generated during the activities associated with purifying and refining petroleum in oil refinery. Those activities including distillation, chemical treatment, product transfer and storage and so on are the contributors of the contaminants. These consist of the petroleum hydrocarbons, asbestos, metals, some inorganic compounds and etc[1]. There are a lot of effective remediation technologies such as pump-and-treat (PAT), soil washing, thermal desorption, bioremediation and etc. However, some of them are causing inhibition of soil fertility or even destruction to ecosystem. Therefore, this encourages my evaluation on phytoremediation- a variation of bioremediation which has been an emerging technology for remediation of petroleum hydrocarbons since late 1990s[2]. Phytoremediation is a cost-effective in-situ treatment which uses up vegetation to clean up the petroleum-contaminated soils and groundwater. In general, it is to utilize the ability of the special plants roots associated bacteria to take up, accumulate, and breakdown the contaminants (e.g. TPHs) located in soils and ground water[3](Figure1). This technology is more suitable for: (a) large sites with shallow contaminants where only polishing treatment is required; and (b) the sites where vegetation is used as a final cap and closure of the site[4]. Figure 1 Basic concepts of phytoremediation 2. Mechanisms There are seven mechanisms of phytoremediation: phytoextraction, rhizofiltration, phytovolatilization, phytostabilization phytodegradation, hydraulic control and rhizodegradation. They can be described as follows: Phytoextraction This is also known as phytoaccumulation. It aims to utilize plant roots in order to uptake and translocate the metal contaminants in the soil into the above ground portions of the plants[5]. The plants absorb, concentrate, and precipitate the toxic metals from the soils into shoots, leaves, etc. (Fig. 1)[6]. Figure 2 Phytoextraction of Ni from contaminated soil There are some plants, called hyper-accumulators, which are capable of accumulating extremely large amount of metals especially nickel, zinc and copper[7]. These plants need to be either incinerated or composted to recycle the metal after have been used for some time[5]. Rhizofiltration It is the adsorption or precipitation onto plant root surfaces, or absorption into contaminants which present in the soil solution in the root zone. Although rhizofiltration looks similar with phytoextraction, the main function of rhizofiltration is to remediate the contaminated groundwater rather than the soil by removing inorganics and metals. The plants are first raised in greenhouses with their roots in water until a large root system has been completed. At this stage, the original water source is replaced by contaminated for acclimatization. Once the saturation of contaminants in the roots has been reached, the plants are harvested. In the study of removal ability, sunflower, Indian mustard, tobacco, corn and etc. have been used to investigate the removal of lead from water. Among those plants, sunflower has the greatest ability[5, 6]. Phytovolatilization This involves the uptake and transpiration of contaminants by plants, with release of the contaminants in vapour form to the atmosphere. It looks like a natural air-stripping pump system. This natural ability of volatilization enables the plants to volatilize the volatile organic compounds in parts of refinery site, vinyl chloride as well as inorganics and etc[6, 8]. Phytostabilization This process is to use plants for immobilizing contaminants in the soil and groundwater. The roots absorb and accumulate the contaminants, provide adsorption or precipitation within the rhizosphere (root zone) in order to reduce the mobility of contaminants. As contaminant migration to the groundwater or air has been minimized, the bioavailability for their entry into the food chain can be lowered. Metal-tolerant species can be used to restore vegetation to those metal-contaminated sites. Those species not only can decrease the potential migration of contaminants but also prevent the leaching of contaminants to groundwater[5]. Phytodegradation This is also called phytotransformation. It is the breakdown of contaminants through metabolic processes or the effect of constituents (e.g. enzymes) produced by the plants. The complex organic contaminants are degraded into simple molecules and these molecules are then incorporated into plant tissues[5]. Hydraulic Control Hydraulic control is employed by plant canopies on the control of water table and the soil field capacity. Phreatophytic trees and plants are commonly used due to the ability to transpire large amount of water and thereby influence the water balance at the site. The increased transpiration decreases the tendency of contaminants to move towards groundwater water or alleviates the migration of contaminants from the site in groundwater plumes[6]. There is something to be noted that trees must be rooted into a shallow water table aquifer in order to successfully prevent plume migration[9]. Rhizodegradation This is often referred to as phytostimulation or planted-assisted bioremediation/degradation. It can be achieved by breaking down the contaminants in the soil within the rhizosphere through microbial activities. During the microbial activities, organic contaminants such as fuels and solvents can be biodegraded by microorganisms into harmless products. The nutrients for the microorganisms are provided by the exudates produced by the plant[5]. 3. Major influencing factors (a) Soil composition and quality: Soils with high concentration of contaminants soils tends to have a poor physical conditioning which is not able to promote the growth of vegetation and rhizosphere microorganisms. Common limitations are the deficiencies in moisture-holding capacity, aeration, nutrient and permeability and so on. Thus, adjustments are required to improve the quality of soil before planting. A common adjustment is the amendment on pH of soil by adding sulphur or lime[9]. (b) Selection of plant: Plants are selected by taking the concerns of the target contaminants to be polluted and the remedial objectives for redevelopment such as time frame and risk management. Moreover, the climate for the plants to be adapted into is also very important. The ability of the plant acclimating to the soil and the depth of plants root structure also cannot be neglected. The selection and use of plant species must be done carefully in order to avoid the introduction of non-native species into the areas which are new to that species[10]. 4. Advantages Relatively low cost: Comparing with other treatment technologies such as thermal treatment, chemical extraction, some ex-situ technologies and so on, phytoremediation is relatively inexpensive as it only uses plants. [5, 11]. Besides, there is no extraction cost as it is an in-situ treatment. Safe and passive: Phytoremediation is driven by solar energy and there is no chemical usage Feasible for large varieties of contaminants: It can be used on the major contaminants produced in oil refinery-petroleum hydrocarbon as well as the other minor contaminants such as VOCs, TCE and even heavy metals and etc[12]. Mitigation of soil erosion: The establishment of vegetation can effectively improve the soil structure and resulting in reducing the soil erosion. Preventing migration of contaminants: Phytoremediation avoids excavation and transport of polluted media as the contaminants are destroyed in place. Therefore, it can lower the risk of spreading the contamination[13]. Aesthetically pleasing: The use of green plants can contribute a more eye-pleasing and natural green environment. 5. Disadvantages Relatively shallow clean-up of soil with low contaminant concentration: Treatment is limited to soils less than 1 m from surface for grasses, less than 3 m for shrubs, less than 6 m for deep-rooting trees and groundwater less than 3 m from the surface. Besides, it is not effective for contaminated site with high concentration [5, 14]. Slow process: The whole process is relatively slow compared with other technologies as three to five growing seasons are needed to achieve remediation goals[5]. Site specific and critical plant selection: The optimization of plant growth and the contaminants uptake depends on the characteristics of the site and the plant species that are selected[5]. Potential food chain contamination: Contaminants may enter the food chain through animals which eat the plants or borne fruits[14]. Production of residual waste: Using phytoremediation may relocate contaminants from the subsurface to the plant, thereby creating residual waste to be disposed of[5]. By looking at the features of phytoremediation in various aspects, we may find some drawbacks and limitations. Although the overall performance of phytoremediation is still not effective as soil vapor extraction and other technologies, its trade-off such as low cost, practicality and environmental-friendliness indicates that it can be a promising solution for remediation in oil refinery, especially in developing countries. Also, many studies on phytoremediation are still being carried out, so it can certainly be combined with a lot of technologies for future improvement and ultimately be widely applied in oil refineries all over the world.

Russia :: essays research papers

RUSSIA(RUH-shuh) Russia’s official name is Russian Federation and it’s capital is Moscow with a population of 8.3 million. It was declared an independent country in August 24 of the year 1991. Russia’s population is 143,782, 338 (July 2004 est.) It’s size is 6.5 million sq. mi. or 17 million sq. Km. Russians practice th following religions: Russian Orthodox, Islamic, Jewish, Roman Catholic, Protestant, Buddhist and other. Their mane language is Russian. LOCATION Russia is in Eurasia and it is neighbor of 13 countries: Finland, Norway, Estonia, Latvia, Belarus, Ukraine, Georgia, Azerbaijan, Kazaksta, China, Mongolia, South Korea and Lithuania. GEPGRAPHY There are broad plains, low hills, vast coniferous forest, uplands and mountains in Russia. There is tundra in Siberia and a northern continental climate that is between subarctic to subtropical. ECONOMY Economy grows 7.3% a year. Russia’s natural resources are petroleum, natural gas, timber and furs. Agriculture products are grain, sugar beets, sunflower seeds, meat and dairy products. This country exports petroleum and petroleum products, natural gas, woods and wood products, metals, chemicals and military manufacturs. GOVERNMENT Russia’s president is Vladimir Putin and it’s prime minister is Mikhail Fradkov. In the Constitution, declared on December 12, 1993, says that the president can pass decrees without consent from the Duma and may disband the Duma, that he’s the head of the armed forces and the security council. FOOD Russians eat a lot of hearty food because cold climates call for them. One example is kasha, a boiled grain, often cooked with onions and mushrooms. Thick vegetables and fish soups served with lots of fillling bread are also eaten in the country. Sweet black tea is a favorite hot drink.

Amazon.com †a case study Essay

Amazon’s Mission â€Å"Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.† Amazon.com’s quest to become earth’s most customer centric company is largely driven by its use of technology. In fact, its continuous innovations are all driven by huge investments in information systems (Laudon and Laudon 2005). Information systems not only support their mission, but in fact drive their business strategy. In this paper , Amazon’s use of information at each stage of Porter’s value chain will be considered. Their innovative and forward looking use of information systems to generate competitive advantage will be analysed in the context of Porter’s five forces and we will also have a look at how they have formed Amazon have formed strategic alliances to overcome certain competitive forces. Future plans to sustain competitive edge will be examined; Amazon not only continue to use technology to improve their customer centric operations, but are now in fact opening up this technology and providing technical and logistics solutions to other firms. The Value Chain The concept of ‘Value Chain Anaylsis’ is described at length by Michael Porter (1985). He notes that every firm is a collection of activities that  are performed to design, produce, market, deliver and support its products or services. He identifies specific, critical-leverage points where a firm can use information technology most effectively to enhance it’s competitive position (Laudon and Laudon , 2005). In his value chain model, ‘Primary Activities’ such as inbound logistics, operations, outbound logistics, sales and marketing and service, are seen as basic activities that add a margin of value to a firm’s products and service. Since Amazon’s inception in 1995, they have used information technology to manage each stage of the value chain. Inbound logistics – including receiving, storing, inventory control – are managed by sophisticated technology such Transportation Optimization and Management Systems (TOMS). They, us e a set of applications for accepting and validating customer orders, placing and tracking orders with suppliers and managing and assigning inventory to customer orders. In fact in 2007, Amazon’s systems have become so efficient in managing inventory that they generally collect from customers before their payments to suppliers come due (SEC1 2007). Amazon’s marketing strategy is designed to increase customer traffic to their websites, drive awareness of products and services, promote repeat purchases, develop incremental product and service revenue opportunities, and strengthen and broaden the Amazon.com brand name. (Amazon Annual Report 2007). Technology, again, is the conduit for their marketing strategy. Amazon were the first to deliver personalized Web pages and services. For instance, their technology keeps track of user preferences for books and CD purchases etc, and can recommend titles purchased by other customers. Their advertising consists primarily of online advertising, including through their Associates program –Amazon.com’s affiliate marketing program, where web developers, by linking to Amazon products and services to their sites, can receive up to 10% in referral fees, – sponsored search, portal advertising, e-mail campaigns, and other initiatives. Customer service is another key area where technology adds value to Amazon’s offer. From the outset, in line with their customer-centred mission, Amazon  tried to provide superior customer service through email and telephone customer support, online tracking and shipping information, and the ability to pay for purchases with a single click of the mouse using credit card and personal information provided during a previous purchase. This was called â€Å"1-click† express shopping, and was considered so attractive that Barnes and Noble, Amazon’s direct competitor in the online book retailing markets attempted to ape it with its â€Å"Express Lane† system (McAfee 2005). Amazon later obtained an injunction on Barnes and Noble and sparked a huge debate around the question of which software, and even business processes can or cannot, be patented. (http://www.oreilly.com/news/patent_archive.html) The Extended Value Chain in e-Business In their book, Strategic Planning for Information Systems, Ward, J and Peppard, J (2002), discuss how the value chain information flow is now being challenged by e-Business They refer to Rayport, J.F and Sviokla (1995), who have identified two crucial new areas in this information flow, namely ‘promotional’ information flow and ‘intelligence gathering’ information flow. These two areas seems to be paramount in Amazon’s value chain management.. According to Ward and Peppard, the implications of the promotional flow of information which informs customers further down the chain of the products and services available have to be understood. David Chaffey (2007) speaks of Amazon’s automated email measurement and optimization system. As users of Amazon will know, once we’ve bought something on Amazon, we are regularly sent emails with information on books or product recommendations. In order for this promotional system not to descend into what one might call Spam, and for it to remain relevant and customer centred, Amazon have put IS systems into place to control this activity. A new system: automatically optimizes content to improve customer experience; avoids sending an e-mail campaign that has low clickthrough or high unsubscribe rate; includes inbox management (avoid sending multiple emails/week); has growing library of automated email programs covering new  releases and recommendations. In this way, Amazon add value to the promotional flow of information through their value chain, and intelligently use and disseminate the information provided to them by their technology. Ward and Peppard conclude that E-business offers huge potential to gather information and intelligence about consumer and customer preference and attitudes online, rather than through traditional market research. When customers shop on Amazon, their choices are stored in the information systems which can then use this intelligence to forecast future demands. Industry Value Chain – Supply Chain Management The Value Chain of the business unit is only one part of a larger set of value-adding activities in an industry – the â€Å"Industry Value Chain† (Ward & Peppard 2003). A firm’s value chain is linked to the value chains of its suppliers, distributors and customers, and each of these players can add, or indeed take away from advantage which has been earned along the way. (Laudon & Laudon 2006). Amazon has one of the most-sophisticated supply chain systems in the world. Proprietary applications handle nearly every aspect of its supply chain: warehouse management, transportation management, inbound and outbound shipping, demand forecasts, inventory planning, and more. (Information Week) Amazon’s supply chain is so tightly integrated that when an online customer buys a book, for example, the order-management system communicates with inventory- and warehouse-management systems to find the optimal distribution centre or centres for fulfilling the order. The customer knows in less than a minute how long it will take to ship the items and whether they will come in one package or separately. Effective supply chain management, has been identified in a survey by The Economist, as being an essential contribution to gaining competitive advantage. It says that all market leaders have supply chains that are more responsive to customer demand. And effectively managing the informati on flow throughout the supply chain is key to gaining competitive advantage. Porter’s Five Forces As we have seen, competitive advantage can be gained through effective use of information systems at each stage of the internal and the external value chain. The other value creation dimension, as defined by Porter is the â€Å"Market/Industry Attractiveness†. He has identified five forces affecting the latter, namely, the bargaining power of suppliers, the bargaining power of customers, the threat of new entrants, the threat of substitute products and competitive rivalry within an industry. E-commerce and the internet provide customers with the ability to search the whole chain for information directly or via intermediaries (Ward and Peppard 2003). The internet provides consumers with near perfect product and price visibility. Customers are free to use any internet portal they choose to search for goods, and can use price comparison portals such as www.kelkoo.com to compare prices between suppliers. Changing suppliers will cost the buyer nothing – switching costs are l ow – and alternative suppliers are plentiful. Consequently, Amazon are forced to keep their prices down and accept lower margins. In the context of Porter’s five forces, the facility for customers in changing suppliers can be classified as high customer bargaining power. Mr Jeff Bezos, the founder of Amazon, saw this threat coming and prepared for it – in 2000 he invited other retailers to sell their goods on his website (The Economist). No traditional seller had ever done this before – to allow others to sell second-hand books on their own door step, was indeed a revolutionary move by Mr Bezos, and many people, even some within the company, thought this would cannibalise Amazon’s own sales. Yet it eventually helped to lift overall sales. Amazon says sales of third-party items, from which it takes a commission, have increased from 6% of all items sold in 2000 to 28% in 2005. Over that time, the company says its own retail revenues were up three-fold (BusinessWeek). Bezos claims that by keeping custome rs on the Amazon site buying other retailers products, Amazon’s direct revenues also increased. This is because with the help of some sophisticated technology driven marketing techniques, customers having already chosen something from Amazon’s partners, are at the same time tempted by Amazon’s own offerings. Today, hundreds of thousands of retail brands and individual sellers reach new customers by leveraging the power of the Amazon.com e-commerce platform. In 2006 Amazon went further with this concept and launched their â€Å"Fulfilment† program, which allows businesses to  use Amazon’s own order fulfilment and post-order customer service infrastructure, and enables Amazon.com customers to receive the benefit of Amazon.com shipping offers when buying from third-party sellers. In this way Amazon, seem to be effectively combating a number of competitive forces, including the threat of substitute products and the threat of new entrants to the market. Due to the low cost for new-entrants to e-Commerce – it requires relatively little capital investment to set up an e-Business- the threat of competing websites is omni-present for Amazon. Amazon’s challengers come from two directions. First, other online retailers are growing rapidly. As people become more accustomed to shopping on the internet, they are ordering a greater variety of goods and services from a wider range of websites. From auctioning people’s second-hand goods, eBay now also hosts fixed-priced virtual shops offering new goods for sale. (The Economist). Google, for one, has replaced retail sites such as Amazon as the place where many people start their shopping. And more personalized and social upstarts such as News Corp.’s, MySpace and YouTube, which Google has bought, have become the prime places for many people to gather online – and eventually shop. Microsoft’s taking of a 5% stake in Facebook, the online networking website, last Friday, which now values the two year old networking website at a whopping 15b$ -, could also be perceived as a potential threat to Amazon. People may choose to start their shopping from their social networking sites, rather than from the mor e traditional retail or portal site. Says consultant Andreas Weigend, Amazon’s chief scientist until 2004: â€Å"The world has shifted from e-business to me-business.† (Businessweek and The Economist). Secondly, traditional retailers are rapidly moving part of their trading online. This pits Amazon against giant retailers with huge purchasing power, like America’s Wal-Mart and Britain’s Tesco. These â€Å"multichannel† retailers make a virtue of their ability to offer both â€Å"bricks and clicks†. Many provide online customers with the option of picking up goods from the shop down the road. This is proving popular with web buyers who want things immediately or are keen to avoid shipping costs and staying in to accept a delivery. Amazon may be attempting to fight off this threat with their AmazonPrime program, which allows customers unlimited shipping for $79 per year. As we have seen, the relatively low costs of setting up business on the Internet, means that the  threat of substitute product/ services and the threat of new entrants also become more apparent. Internet technology is based on universal standards that any company can use, making it easy for rivals to compete on price alone and for new competitors to enter the market (Laudon and Laudon 2006). Clarke (2001) says that consequently, if we are competing in an industry where all our competitors have access to the same technology, it follows that competitive advantage comes from the use of information, as opposed to technology, and sustainability of advantage lies in an organisation always being better at this than its competition. Amazon would appear to be doing a fairly good job in keeping up – for instance with the technology enables personalization of the customer – but as Jeff Bezos reiterated in the reprinting of his 1997 letter to shareholders for the Amazon 2006 Annu al Report, â€Å"It’s all about the long-term†. Sustainability of Competitive Advantage – The Future for Amazon In the long-term, Amazon are aiming to re-invent themselves. An article in the Economist claims the e-commerce giant wants to be more than just a retailer. Having established the internet as somewhere to buy things, Amazon is again spending heavily on development in anticipation of consumers wanting to download music, video and books instead of having them delivered in the post. In September, the company introduced the Amazon MP3 digital music store to sell tracks without the anti-piracy technology known as digital rights management, or DMR. The music companies EMI and Universal are participating in Amazon’s store, making the service a significant competitor to Apple’s iTunes service. Unless the Amazon, the pioneer of online retailing can provide downloadable media it risks being â€Å"disintermediated†2 —just as only a decade ago high-street bookshops, music and video stores were disintermediated by Amazon itself. Amazon, in fact have a history of strateg ic alliances with various firms – Borders and SmugMug, to mention just a few. A strategic alliance is a partnership of two of more corporations or business units to achieve strategically significant objectives that are mutually beneficial, Wheelan and Hunger (2005). These alliances have allowed Amazon to use their established technological lead in the e-Commerce platform to generate revenues as well as their other strategic objectives. Amazon Web Services (AWS) is another example of a  strategic move to maintain advantage. With AWS, Amazon say they are building a new business focused on a new customer set †¦ software developers. They currently offer ten different web services and have built a community of over 240,000 registered developers. In order to cope with the Christmas rush, Amazon has far more computing capacity than it needs for most of the year. As much as 90% of it is idle at times. Renting out pieces of that network to other businesses, such as SmugMug, an online photo site that uses the S33 service, is a way to get extra return on Amazonâ⠂¬â„¢s $2 billion investment in technology (The Economist). Conclusion In this paper, a number of ways in which Amazon add value to their internal and external value chain have been identified. We have looked at how they optimize their utilisation of information in forging closer relations with their customers; operate a lean supply-chain management strategy and fight off numerous threats posed by competing in the e-Business environment with strategies such as offering new services to smaller retailers, digital downloads, and opening up their technologies to developers. However in a fast moving global economy, no future is certain. Amazon are conscious of the threats posed by failed alliances (Border’s will pull out of their agreement to use Amazon’s e-commerce platform in 2008, www.bloomberg.com) and the constant threat posed by Google, even Facebook and other technology driven Web2.0 companies. Jeff Bezos will be hoping to overcome these threats by, as he says, by â€Å"opening up the guts of his organisation† to developers (Busin essWeek). Information systems are at the core of Amazon’s business, and going forward, as Jeff Bezos said in his 2007 SEC filing, their biggest challenge â€Å"will be to continue to build and deploy innovative and efficient software that will best take advantage of continued advances in technology†. Amazon have made massive investments in technology – $186 million in the last quarter alone – (The Economist), and with 2007 3rd quarter sales up 41% and a quadrupling of profit, it looks like these technology investments may finally be paying off! References â€Å"Amazon.com – Click to download†, The Economist, Aug 17th 2006 Amzn Investor Relations http://phx.corporate-ir.net/phoenix.zhtml?p=irol-irhome&c=97664 Accessed 28th October 2007 â€Å"Borders to Introduce New Internet Site in Early 2008 (Update3)† www.bloomberg.com Accessed on 28th October 2007 Clarke, Stephen (2001) Information Systems Strategic Management –an integrated approach, Routledge, London David Chaffey: â€Å"Amazon Case Study 9.1 Learning From Amazon’s Culture of Metrics† www.davidchaffey.com Accessed on 13th October 2007. â€Å"Friend Accepted†, The Economist, Friday 26th October 2007 â€Å"From scratch: Amazon keeps supply chain close to home†, Beth Bacheldor, InformationWeek, March 5, 2004 â€Å"Jeff Bezos’ Risky Bet† Business Week, Cover story, November 13, 2006 www.businessweek.com â€Å"Jeff Bezos’ Risky Bet† www.businessweek.com November 13, 2006. Accessed 27th October 2007 â€Å"Lifting the bonnet† The Economist Oct 5th 2006 Porter, Michael E. (1985) Competitive advantage: creating and sustaining superior performance pg 33 The Free Press Laudon, J and Laudon K (2006), Management Information Systems: Managing the Digital Firm (10th Edition) Prentice Hall R. Preston McAfee (2005) Competitive Solutions: The Strategist’s Toolkit, Princeton University Press Rayport, J.F and Sviokla (1995) ‘Exploiting the virtual value chain’, Harvard Business Review, November – December, 1995 SEC (2007) United States Securities And Exchange Commission submission Form 10-K from Amazon. For the quarterly period ended September 30, 2007 Ward, J and Peppard, J (2002) Strategic Planning for Information Systems, 3rd Edition John Wiley & Sons, Bedfordshire. Wheelen, T and Hunger J, (2004) Strategic Management and Business Policy, 9th Edition, Pearson/Prentice Hall, New Jersey.

The American Economy in the 1920’s Was a Bubble Destined to Burst

â€Å"The Economy of 1920’s America was a bubble destined to burst† The statement that the economy of 1920’s American was a bubble destined to burst is thoroughly correct. The uprising issues of Protectionism, weak industries, weak banks, overproduction of goods and an uneven distribution of wealth meant that America was in a vicious spending spree that could only be broken by the 1929 Wall Street Crash. When one thinks of an economic depression, one first considers the banks and how they were linked to the said crash.The banks in the case of the Depression were closely related to the Wall Street Crash. In the 1920’s banks weren’t the large networks that they are today, so when they went bankrupt, there was nothing to fall back on. Banks had also loaned out far too much money keep a stable economic flow. Many Americans also decided to join in on the share market game in hopes of living out the American Dream in a â€Å"get rich quick† manner and were borrowing huge amounts of money to invest, often in an uneducated manner.As this was continuing, banks were making it possible to borrow huge sums of money and the government, still stuck in its belief of Laisseize Fare- that is, that the government would simply let the economy sort itself out without any government intervention. With this flimsy and unstable system of banking- there was bound to be a huge economic impact such as the crash. After the atrocities of World War 1, America decided it’s safest way to keep out of global issues and wars was to focus on being a self-serving country run on the idea of Protectionism.The key act of Protectionism was that tariffs were placed on imported goods, thus making American products much more appealing to its citizens. This also created a huge economic flowing acting almost exclusively nationally. However the notion of Protectionism became detrimental to America as 23 countries soon placed tariffs on American exports that were already seen as luxuries by other countries. It could be said that most other long term causes of the crash of the American economy simply snowballed off the issue of protectionism.One of the largest of these was over production. As American export rates came down, the country was met with the newfound issue of overproduction. As sales for products such as cars dropped dramatically (how many new cars could one family need? ) America still did not stop making them. There were now warehouses full of products that were either un-wanted or that couldn’t be afforded. Soon enough, many companies began to close down in a domino ffect, leaving only the products necessary to live as a profitable part of the economy. The issue of overproduction is closely linked to the un-even distribution of wealth in America. As there were only a select few who could afford to buy the luxury items companies were trying to sell, and because of the tariffs now placed on American goods, there were no exports. As 5% of the country’s population held a massive 30% of the wealth, that too was far too unstable to continue.Thus proving that the American economy was in fact, a bubble destined to burst. The final factors of the economic crash of 1929 are closely linked. The cotton, farming and railroad industries being far weaker than they seemed and the instant panic when there was any cause for concern by the American people were both such issues because of lassiz fare and the conservative government not being willing to back down on this that the economy ended up in a crisis.There were low wages for people industrial workers and farmers- (ironically enough the jobs that could have saved the economy) yet Americans were encouraged to have the highest faith in the farming, cotton and railroad industries. In 1929- the year of the crash, President Hoover himself said that America could expect a â€Å"financial triumph over property†. It was due to this huge faith and over confidence in the economy that the panic when things went a little haywire Americans were in such shock that all they wanted to do was sell their shares and get their money back.This of course was just making matters worse for themselves and their country. It is because of these factors, that it is indeed obvious that America in the 1920’s was simply a bubble destined to burst. There were too many half-thought-out ideas put into immediate motion and the lack of communication or assistance from the American government lead to the three factors that made the American crash inevitable.

Sources of Capital: Owner’s Equity

Owner’s Equity as a Source of Capital Sources of capital come in two forms: debt and equity. Obtaining permanent capital through equity is the capital supplied by the entity’s owners. It is the owner’s share in the financing of all the assets. Richard Scott, United States accounting professor wrote, â€Å"one of the most deep-seated, and incontrovertible concepts embraced by accounting theory today is that of owner’s equity. † Through analysis of the case, we found this to be true. There are different financing costs both a company and its investors face when considering equity financing. It is strangely fascinating that often times, equity financing becomes more costly than debt financing. The analysis of opportunity for both sides of the transaction, financier and debtor, requires multiple formulas and calculations. Options for financing vary in pre-tax earnings and return on investment. For this reason, the options should be thoroughly analyzed to find the best yield for both parties, company and investor. Innovative Engineering Company was founded as a partnership, and within five years became a thriving business bringing with it both success and the need for new permanent capital. The two partners, Gale and Yeaton, estimated the capital need at $1. 2 million. Initially, the partners found interested investors, but none willing to risk their personal assets by participating in a partnership. Though incorporation is more costly and subject to numerous regulations, it provides limited liability to its investors and the ability to raise capital through bonds and stock. The partners planned to form a corporation to secure investors. Under incorporation, owner’s equity becomes stockholder’s equity. The two types of equity are purchased equity, consisting of preferred stock, common stock, and paid in capital, and that of earned equity, also referred to as retained earnings. The later represents profits earned by the company and retained in the business. Owner’s equity is shown on the balance sheet and within the statement of owner’s equity in a company’s financial statements, and is most commonly influenced by income and dividends. Four proposals were developed to attempt to meet the needs of investors in the Innovative Engineering case and the two original partners struggled to maintain ownership control. Proposal A includes a $1. million long-term loan, giving Arbor Capital Corporation 10% common stock. Proposal B includes $200,000 debt, $900,000 preferred stock, and $100,000 common stock. Proposal C includes $600,000 debt, $600,000 equity with 40% common stock. Proposal D includes $300,000 debt, $900,000 equity with 50% common stock. Calculating the impli cations of each proposal is necessary to seek further investors and find the best option for both sides of the transaction. Gale and Yeaton assumed an interest cost of debt at 8% and a dividend rate for preferred stock at 10%. They also assumed pessimistic, best guess, and optimistic variables. The applicable tax rate is 34%. The return on common shareholder’s equity earned under each of the three income assumptions is as follows: Proposal A: Debt = $1,100,000 Taxes= 34% Payment on Debt = $1,100,000(. 08) = $88,000 Common Stock = $1,000,000 Pessimistic NI – Interest Expense+ Tax Savings/Common Stock = $100,000 – 88,000+34,000 = 46,000/1,000,000 = 4. 6% Best Guess $300,000-88,000+102,000 = 314,000/1,000,000 = 31. 4% Optimistic $500,000 – 88,000+170,000 = 514,000/1,000,000 = 51. 4% Proposal B: Debt = $200,000 Payment on Debt = $200,000(. 08) = $16,000 Preferred Stock = $900,000 Dividend Payment for Preferred Stock = $900,000(. 0) = $90,000 Common Stock = $100,000 Common Shareholder’s equity = 1,000,000 Taxes = 34% Pessimistic NI-Interest Expense-Preferred Div+ Tax Savings/Common Stock $100,000-16,000-90,000+34000 = 28,000/1,000,000 = 2. 8% Best Guess $300,000-16,000-90,000+ 102,000= 296,000/1,000,000 = 29. 6% Optimistic $500,000-16,000-90,00 0+170,000 = 564,000/1,000,000 = 56. 4% Proposal C: Debt = $600,000 Payment on Debt = $48,000 Common Stock = $1,500,000 Taxes = 34% Pessimistic NI-Interest Expense+Tax Savings/Common Stock $100,000-48,000+34,000 = 86,000/1,500,000 = 5. 7% Best Guess $300,000-48,000+102,000 = 354,000/1,500,000 =23. 6% Optimistic 500,000-48,000+170,000 = 622,000/1,500,000 = 41. 47% Proposal D: Debt = $300,000 Common Stock = $1,800,000 Taxes = 34% Pessimistic NI-Debt+Tax Savings/Common Stock $100,000-24,000+34,000 = 110,000/1,800,000 = 6. 1% Best Guess $300,000-24,000+102,000 = 378000/1,800,000= 21% Optimistic $500,000-24,000+170,000 = 646,000/1,800,000 = 35. 89% From this, we see proposal D is the optimal investment strategy for Arbor Capital Corporation. The three income assumptions provide higher returns at a more constant rate than the other proposals. For Innovative Engineering Company, proposals A and B are more ideal for meeting their control needs. For a further analysis of earnings, the pre-tax earnings and return on investment are calculated as follows: Pre-Tax = 100,000 / (1-. 34) = 151,515. 15 Proposal A: Debt = $1,100,000 Common Stock = $100,000 Interest = $88,000 Dividend = $21,200 Pre-Tax Earnings = $109,200 (sum – common stock and debt) Return on Investment = 9% (pre-tax earnings / $1,200,000) Proposal B: Debt = $200,000 Preferred Stock = $900,000 Common Stock = $100,000 Interest = $16,000 Preferred Dividend =$90,000 Common Dividend =$10,000 Pre-Tax Earnings = -$64,000 Return on Investment = -5% Proposal C: Debt = $600,000 Common Stock = $600,000 Interest = $48,000 Common Dividend = $240,000 Pre-Tax Earnings = $288,000 Return on Investment = 24% Proposal D: Debt =$300,000 Common Stock = $900,000 Interest = $24,000 Common Dividend = $450,000 Pre-Tax Earnings = $474,000 Return on Investment = 40% Again, proposal D shows the most promise for Arbor Capital Corporation, with larger pre-tax earnings and a greater return on investment. Innovative Engineering Company is in a good position and has options. They should not consider proposal B. Proposal A will give them greater control over the company but comes with large debt financing and is risky. They should consider other investors and should look at options such as warrants. They should further research their options for a large loan. We have found debt financing can be cheaper than equity financing and should be considered. We are certain Innovative Engineering Company could find more attractive financing than proposal D. They should have more options, because their need is success driven versus a start-up company. From outside research we have found there is a natural definition of market efficiency relating capital stock and investment flow. Obviously, equity finance should not be used if it becomes more expensive than debt financing. The company can create value by managing these sources of capital, finding an optimal balance of both. Works Cited Anthony, R. N. , Hawkins, D. F. & Merchant, K. A. (2007). Accounting Text & Cases (12th ed. ). Boston: McGraw-Hill Irwin. Frieden, Roy (2010). â€Å"Asymmetric information and economics. † Physica A. Volume 389 Issue 2. Scott, Richard (1979). â€Å"Owner’s Equity, The Anachronistic Element. † The Accounting Review. Volume 4.