The System Of Social Class Essay - 1401 Words

The system of social class in America and Haiti work by everyone belonging to a different category. There are three categories of social class: the one percent, the middle class and the people who live in poverty. There is a controversy about how poverty does not exist in America because it’s not noticeable and it also one of the richest countries. From the knowledge, I know the poverty in America exists in the countryside or outside of big cities. The inequality that has been created by the social system has caused certain groups of people to live marginalized. In both countries, women have experience oppression by the public on whether they should have the same rights as men. It wasn t that long ago that some Acts of Equality were passed for women to have the same opportunities as men. Therefore, women feel like they re struggling against misogyny caused by the unfair treatment they are receiving by other members of the nation. Natural disasters have caused, Haiti to become one of the countries with the highest rates of who people live in poverty and the Haitian government isn’t doing much to help. Therefore, the system of social class in America is similar to other countries in their problems, although the main difference is that poverty in America can be invisible. For many years’ poverty has affected people throughout the world, one of the countries that poverty has an effect but it’s not that noticeable is American, although it is also one of the richest countries.Show MoreRelatedA Social Class System1116 Words   |  5 PagesThere is no way to deny that a social class system exists that divides people by general popularity. Once children begin school, they begin to separate into these divisions. The top of the social ladder, often considered to be people who are cool, are stereotyped to be beautiful and happy. Although in some cases this may be true, it is not always that way. Misconceptions about popularity lead to a greater divide amongst the social classes, and cause those in the lower social levels to be considered asRead MoreSocial Classes And Class System Essay1182 Words   |  5 Pagesthe United states, social classes is a controversial issue in terms of defining the actual nature of the classes themselves. Many indivi duals have categorized the society into three elementary groups that is the â€Å"poor†, â€Å"middle class† and the â€Å"rich†. Additionally, a more complex system of social classes is derived from the three elementary classes. In this regard, a four-class system includes â€Å"the capitalist/upper class†, â€Å"the middle class†, â€Å"the working class† and â€Å"the lower class† (Thompson, 2005)Read MoreSocial Class And India s Social System779 Words   |  4 PagesSocial class is a division of a society based on ones social and economic status. There are those of higher class, middle class, and lower class. However, the class a person is a part of can affect their life in many ways they may, or may not notice. In different places, there are many varieties of qualifications for which class one may be considered. Why do many places have contrasting types of social classification? The evaluation of America s and India s social ra nking systems gives more insightRead MoreSocial Stratification, Class System And Ethnocentrism703 Words   |  3 PagesSocial stratification, class systems, and ethnocentrism are all parts of our society that influence our thoughts of what is normal and what is outlandish. Social stratification is a system in which society ranks and organizes people into ranks to identify them. A class system is a system which classifies people based on their social position at birth and their achievements later in life. Ethnocentrism is the view that one’s own culture is â€Å"normal† and other cultures are odd; through ethnocentrismRead MoreSocial Justice System Of The Upper Class Essay1628 Words   |  7 PagesSocial justice is one of the fundamental factors that can make a community, society, or the entire country thrive. Counties that have any sort of social justice system even if it is not perfect are more stable than one who lack all forms of social justice system. It is very difficult to see social justice in most countries of the world due to the greediness of those who are in the upper class. This kind of behavior makes the others who are below the the upper class revolt against the regimes andRead MoreThe Gap Ladder System Of Social Class1550 Words   |  7 PagesDo people in different social standings have different chances or opportunities to move up in social class? Many people, even though they do not realize it, discriminate and establish a prejudice or stereotype, and this affects how they perceive and treat other people. The American Dream has always been to â€Å"Work Hard, and Move Up† (Upper Bound). Are people of lower social standing still equally able to achieve their dreams simply through hard work? The difficulty with which an impoverished personRead MoreThe Educational System and Social Class Essay554 Words   |  3 PagesHistorical Events In order to establish a PHILOSOPHY ON TEACHING, a sequence of events happen in history to open a doorway to â€Å"Society about Education and Schooling†, as the description of Public Education Goals for Our Educational System came from the ideas of two famous men, Horace Mann and Thomas Jefferson. Mann believed â€Å"people were created and brought into life with a set of innate, organic, dispositions, or propensities (Mann 1969, pg. 125) and Thomas Jefferson gave the idea of an assignedRead MoreSocial Class Systems During The Nineteenth Century1159 Words   |  5 PagesSocial class systems in the nineteenth century were comprised of the upper class, the middle class, the working class, and the underclass. The different social classes can be â€Å"distinguished by inequalities in such areas as power, authority, wealth, working and living conditions, life-styles, life-span, education, religion, and culture† (Cody). The poor, also known as peasants, were usually mistreated and segregated from the wealthy, or those of higher class. During his time, Charles Dickens â€Å"seenRead MoreThe Lasting Effects Of Social Class On Our Education System Essay2148 Words   |  9 PagesThe Lasting Affect Social Class Has On Our Education System The socioeconomic classes have entirely taken control of our education system at all levels. It starts at the young age of students who have trouble learning as every student is different and it takes a vast amount of strategies to help each student learn, but our schools are failing to do so. Our social classes determine the type of education we will receive before we are even grown to realize it. Students of different classes are notRead MoreJuvenile Justice System Based On Their Race, Gender, And Social Class Essay2585 Words   |  11 PagesIntroduction The research done for this paper examines different studies of juveniles and their place in the United States’ justice system based on their race, gender, and social class, as well as looks into policing tactics that may be beneficial to the affected youths. By looking at a wide variety of academic journals and books it was clear to see that youths are looked upon and treated differently depending on what their race is, the sex that they were born, or their family’s economic standing

The Rhetorical Analysis Example Stories

The Rhetorical Analysis Example Stories Rhetorical Analysis Example Therefore, if you require assistance with analysis paper, rhetorical analysis essay service you want to employ. It's still true that you have to read some helpful information on the best way to compose a rhetorical analysis essay. When you're working on an analysis essay, you must make it like an answer to the fragment. Now you know how to define rhetorical analysis essays, you need to learn how to draft one. Rhetorical analysis is a kind of writing whenever the author approaches the topic very thoroughly and proves his opinion utilizing persuasive and productive approaches. When writing a rhetorical analysis essay you're using rhetorical devices to demonstrate the. Writing a case of rhetorical analysis isn't your worst nightmare any longer! Writing a rhetorical analysis outline template may look like an intimidating task. Although the rhetorical analysis paper might appear a formidable job, anyone equipp ed with the suitable knowledge and skills can handle it. As soon as you understand what is needed from you, you are going to be limited in your task, and thus won't lose yourself in the immense number of ideas you need to cover in the essay, and at the exact same time will know just what to write about. The purpose of departure for rhetorical analysis is the realization that folks are moved and persuaded in a wide range of means. To pass the class, you should scrutinize the subject and know about the rhetorical ways. From different communication settings, it is easy to analyze the speech or writing and develop a fantastic rhetorical paper. You have to reveal the end result of the author's speech and its impact. A rhetorical analysis essay would ask you to analyze portions of the speech. The bright instance of ethos is a scenario once the author refers to his education by discussing issues from precisely the same field. At exactly the same time, the rhetorical analysis revea ls the complete degree to which the text is valuable to the narrator for a type of self-expression and the ability to understand herself. Rhetorical questions are likewise a terrible selection for a very first sentence. For example, you can use direct quotation or paraphrase. After stating the quote you decide on, you will need to analyze it, in-depth. When you compose the rhetorical analysis essay, keep in mind that its principal objective is to explain the effect of every system that was used by the author. Accordingly, in any rhetorical analysis example, people must use just a thesis statement to be coherent within the field. What You Should Do to Find Out About Rhetorical Analysis Example Before You're Left Behind Introduction The introduction, that is the very first paragraph, ought to be brief and right to the point the paragraphs within the body are the ones which should provide your detailed analysis. Adhering to the correct structuring is the most dependable process of satisfying the professor's requests, so utilizing the 5-6 paragraph style is your best choice. Therefore, it's recommended you review an appropriate example initially and then cover the text's rhetorical moves. Deciding upon an excellent example will let you master peculiarities of an outline, persuasive procedures, and a winning sequence of supplying arguments. Writing a rhetorical analysis includes the use of appeals to produce the point clear to the audience. The very first line of a rhetorical essay ought to be a hook. It is likewise very beneficial to select a notable bit of writing which doesn't need to be introduced to the audience. A great instance of such works is speeches before the audience that aim to get a potent effect on the listener. Among the essays is called a rhetorical analysis essay. Since you may see the rhetorical analysis essay is not a simple job. For a number of them, a rhetorical analysis essay has become the most confusing portion of the as signment. A stellar rhetorical evaluation essay is a true challenge, therefore it is preferable to learn all potential methods of writing it thanks to our effective tips. Each paragraph within the body requires its own topic sentence and lots of examples with thorough explanations to generate your analysis cohesive. You have to have an argument. Any bit of rhetorical analysis generally contains strong arguments made from strong adjectives and descriptive adverbs. Any illustration of rhetorical analysis consists of strong arguments made from powerful descriptive adverbs and adjectives. New Questions About Rhetorical Analysis Example Now, when you know everything about an analytical essay, it is the correct time to find familiarized with a couple examples and to see what's good and what's bad about every one of them! For you to think of a fantastic rhetorical paper that's appealing to the reader, you've got to understand what is expected of you in the essay. Nerdymates, the most dependable essay writing service on the internet, provides a chance to become guaranteed great essay. See the way the example critically highlights the major topic of the poem. For instance, your assignment is to analyze some renowned film. Start with a thoroughly reading the prompt to understand what sort of analysis is needed. In the end, however, analysis of film isn't too different. As previously mentioned, the comparative analysis is a little tricky when it regards its main concept. Summarizing the plot and just listing the rhetoric devices are not going to get you anywhere. Understanding how to compose examples of rhetorical analysis topics all on your own and make choices on the best ones are always able to produce the work of writing such papers quite uncomplicated and enjoyable. The examples provided here are intentionally diverse so they supply you with an assortment of significant points. The Lost Secret of Rhetorical Analysis Example A comparative analy sis is among the most well-known kinds of assignments that are often given in colleges or universities. This kind of outline is likely to make your rhetorical analysis brilliant and you won't ever miss a single detail out. The target of a rhetorical analysis is to take into account the. The main purpose of your rhetorical analysis needs to be to learn more about the goals, techniques, examples and the effectiveness in a sheet of writing.

Rise of Labour Workforce and Protection of Labour †Free Samples

Question: Discuss about the Rise of Labour Workforce and Protection of Labour. Answer: Primary focus and the problem explored The primary focus of the paper is on the rise of labour workforce under just-in-time approach that led to crowd work, on-demand work and the protection of labour under gig-economy. The paper mainly explored the problem associated with the labour relations and the working condition of the workers. Changing nature of work and its impact on workers lives The gig-economy and its importance have been exponentially increased in last few years. However, its impact on the labour rights has been widely overlooked. Work under gig-economy involves on-demand-work through apps, crowd work that leads to matching of supply and demand of working activities through mobile apps or online. These work forms can lead to commoditisation of the work. However, problems associated with these types of works are some of these types of jobs lead to competition as more number of persons is simultaneously working on the same project and the clients select and pay for the best product only. Further, some of them operate on first come-first-served-basis. Moreover, in some situations, no relationship between the client and worker exist, the worker performs the task and paid through the gateway. Finally, the complexity and nature of tasks to be performed significantly varies even within the same platform (De Stefano, 2016). Strengths and weaknesses The main strength of this system is it enables the work-on-demand through apps for traditional jobs like cleaning, transport and clerical works allocation through the mobile apps. The businesses which are running these apps intervene normally through setting the minimum quality for the service standards and management and selection of workforce. However, the main weaknesses of this system is the Gig economy is that it is not exclusive concerns for the business of labour advocates and the businesses are very attentive to this issues. Further, conditions and terms for utilisation of the apps and platforms explicitly specify that the relationship among the persons running the app or business and the person executing work (The Emergence of the Gig Economy, 2016). Another argument is that the strong links under gig economy with wider trends for the labour markets like work accommodation, in-formalisation of formal economy and demutualisation of the risks shall not be overlooked for designating the comprehensive solution to adhere the labour problems in future and modern labour markets. Issues emerged from the case study It is recognized from the study that for promoting the labour protection under the gig-economy, 1st thing that is required is the strong advocacy for having the jobs in the working sector to fully recognize it. This step is required for encountering the strong risk for commoditization to practice. Further, the gig-economy shall not be conceived as separate silo under the economy (De Stefano, 2016). References DE STEFANO, V. (2016). The rise of the just-in-time workforce: On-demand work, crowdwork and labour protection in the gig-economy. 1st ed. [ebook] Geneva: International labour office. Available at: https://www.ilo.org/wcmsp5/groups/public/---ed_protect/---protrav/---travail/documents/publication/wcms_443267.pdf [Accessed 6 Aug. 2017]. The Emergence of the Gig Economy. (2016). [ebook] Ai Group Workforce development. Available at: https://cdn.aigroup.com.au/Reports/2016/Gig_Economy_August_2016.pdf [Accessed 6 Aug. 2017].

Why Was The First Day Of The Battle Of The Somme S Essays - France

Why Was The First Day Of The Battle Of The Somme Such A Disaster? There were many reasons that led to the British tragedy of the Somme including: defective ammunitions for the artillery and the strength of the German trenches. In retrospect, I believe that the most important and effecting factor that led to Britain's failure was the German's strength. The first problem with the Somme was the lack of British experience when manufacturing and using ammunitions. This was a serious problem because the attack relied on mostly the artillery's ammunition destroying the Germans defences. The defective ammunitions were not the only problem though. On the day of the Somme the British military did not have enough trained soldiers to operate the artillery so they had to use untrained and inexperienced men this was to their downfall because for the artillery to work they had to be fired a t precise points which clearly the soldiers would struggle with because they were untrained. Another mistake that the British army made on the first day of the Somme was the fact that they underestimated the Germans. The before the attack the German military had been working had at making sure that their trenches were the best that they could be. They did this by not only building them into specific areas that were naturally reinforced but also made sure that the conditions inside were good for their soldier so that they would be healthy and ready to fight. A third precaution that the Germans took that Britain could not have foreseen was Germany's research into the soldier's helmets. The German military created a helmet that not only was super strong but covered the most essential parts of the wearer's neck saving countless lives. The third cause of Britain's downfall was their attacking pattern. This was such a large factor because the way the British advanced helped the Germans shoot them down easier. Due to the lack of experience of the British military the government tried to create a simple formation that everyone could follow with ease. The tactic was to advance slowly in a straight horizontal line this was such a problem because they just became slow moving lined up targets for the German machine guns to easily shoot down. In conclusion, I think that the most important reason that led to Britain's downfall was the reinforced German trenches. This is because even if the British ammunition was not defective and they had a decent advancing strategy then they would still have been arrived with the task of destroyin g the trenches which would still have been no easy feat.

Free Essays on Capital Punishment And Our Nation

The issue of capital punishment has forever torn our nation. As many plead for the undoubted necessity of it, others pity the cruelty of such an act. Looking beyond this primary disagreement, justice cannot be served until the debate on capital punishment is resolved and all states have come to agree that the death penalty is the best way to stop crime completely. Many people who are against capital punishment are only thinking of the criminal and how cruel it is for them. But, shouldn’t we think of the families that are broken apart now because of the merciless acts of these criminals? Think of Susan Smith, how she knowingly drove her car off into a lake with her two children strapped to the seats. Think of how they must have felt as the cold water started to fill the cabin of the car, and then ultimately drown them. Barbaric is exactly the word I would use to describe her actions. But yet, the jury rejected the death penalty and chose a life sentence instead. But, was it justice that she was not put to death for killing her two children? How could someone possibly let her off the hook of such a crime? They said it would be just as bad for her to be in that cell alone because of her depression, but does it justify her cutting short the lives of the two children, who had no idea of their oncoming death? If we give up our punishing a deadly criminal, then we throw our society into chaos and let the criminals freely do as they please. I would know that I was safe if anyone that tried to fatally harm me would be put to death. But in this society when someone can kill someone, get sentenced to life, get paroled and then be freed to go about and do the same crime again frankly scares me. Another thing that scares me is the fact that this country has softened up on criminals. Right now, everyone has a right to appeal their conduct even though you go against the law and is put in prison; you are supposed to be stripped of... Free Essays on Capital Punishment And Our Nation Free Essays on Capital Punishment And Our Nation The issue of capital punishment has forever torn our nation. As many plead for the undoubted necessity of it, others pity the cruelty of such an act. Looking beyond this primary disagreement, justice cannot be served until the debate on capital punishment is resolved and all states have come to agree that the death penalty is the best way to stop crime completely. Many people who are against capital punishment are only thinking of the criminal and how cruel it is for them. But, shouldn’t we think of the families that are broken apart now because of the merciless acts of these criminals? Think of Susan Smith, how she knowingly drove her car off into a lake with her two children strapped to the seats. Think of how they must have felt as the cold water started to fill the cabin of the car, and then ultimately drown them. Barbaric is exactly the word I would use to describe her actions. But yet, the jury rejected the death penalty and chose a life sentence instead. But, was it justice that she was not put to death for killing her two children? How could someone possibly let her off the hook of such a crime? They said it would be just as bad for her to be in that cell alone because of her depression, but does it justify her cutting short the lives of the two children, who had no idea of their oncoming death? If we give up our punishing a deadly criminal, then we throw our society into chaos and let the criminals freely do as they please. I would know that I was safe if anyone that tried to fatally harm me would be put to death. But in this society when someone can kill someone, get sentenced to life, get paroled and then be freed to go about and do the same crime again frankly scares me. Another thing that scares me is the fact that this country has softened up on criminals. Right now, everyone has a right to appeal their conduct even though you go against the law and is put in prison; you are supposed to be stripped of...

10 Ways to Appear Smarter Than You Are

10 Ways to Appear Smarter Than You Are We can’t all be blessed with superhuman intelligence in order to get ahead in life. But it is helpful to be at least perceived as being smart- even if that involves a little finessing around the edges. Here are 10  things you can do to seem a lot smarter. Work at these and you’ll be fooling people with your fake genius in no time.1. Debunk one thing.Pick a faddish topic or a current news story- maybe one that’s spreading like wildfire through your feed. Then pick it apart. Are the sources reliable? The quotes correct? Is it doubly corroborated by a reputable news source? Are there counter positions? Other statistics that might conflict with the conclusion of the most posted article? Remember names and numbers for this one and bring it up every time the topic comes around.2. Wear glasses.It seems very silly, but it really works. If you wear glasses, chances are people will just assume you’re smart before you even open your mouth. If you need to make a big first impression and your IQ falls a bit behind your ambition, leave the contacts at home.3. Boost your vocab.The easiest and best thing you can do to improve your intelligence aura is to actually work to expand your vocabulary. Record yourself having a conversation. Notice any filler words, like â€Å"like† or â€Å"um† or â€Å"so†? Try going on a diet, getting rid of those words and putting really nutritious new (multisyllabic!) words in their place. Try signing up for a â€Å"word of the day† mailing list and try to use that word in conversation at least once that day.4. Teach yourself stuff.General knowledge is a great indicator of smarts. Pick a few topics that interest you, and go all in- even Wikipedia will do. In addition, consider learning all about a handful of really obscure things. People are very impressed by specialists.5. Write simply.Try to be as clear and concise as possible in all your written communications. The more efficient and eff ective you are, the smarter you will seem.6. Speak well.If two people say the same thing, but one says it better- i.e. more expressively, in a firmer tone with fewer pauses and more effect- then that person is going to seem naturally smarter and more trustworthy. Practice selling what you say.7. Skip the drink.You have much less control over what you say when you are drinking. Next time you’re at a work function? Go for the sparkling water. Then dazzle everyone as they get tipsier and more tongue-tied.8. Use your middle initial.Another silly one, but hey, it seems to work. Don’t people just seem more important if they have a middle initial? Think of John F. Kennedy or Robert B. Parker or Ulysses S. Grant. If you’ve got a good one, use it to your advantage.9. Believe in yourself.This is important. People can smell insecurity. Project poise and confidence and understanding, and really know that you’re capable of doing anything that comes your way. And if yo u can’t get there, fake it ’til you make it!10. Be still.Sometimes the person on the sidelines observing when everyone else is diving in is considered the wise (and sometimes judgmental) one. Practice waiting. Listening. Thinking before you speak or act. This sort of control will boost your emotional IQ and also make your brain IQ seem a little higher to an outside eye.

Law and Ethics of Consent from Children in Medicine Essay

Law and Ethics of Consent from Children in Medicine - Essay Example In law children are those under 18 years of age. When ever providing consent for medical treatment, according to the age of the child there is a variance of treatment. The Family Reform Act of 1969 provides that, †the consent to treatment of a 16 or 17 year old is to be treated like the consent of an adult†( FRA 1969). Minors in some places are deemed incompetent and are not given the right to consent. In England, one can challenge the presumption of incompetence on the basis of proving that the minor is mature enough to understand the procedures and the outcome. However, whenever the minor is considered incompetent, the informed consent is required from the parents. This has no application to a refusal of medical treatment or to non-therapeutic procedures like organ or blood donation. For those children under 16 there is precedent in case law governing consent to treatment. The law was set out in the case of Gillick v West Norfolk and Wesbech AHA [1986] AC 112, the court held, â€Å"that if a minor has sufficient intelligence and understanding to enable him/her to understand the treatment and implications of treatment then he/ she is Gillick competent and can consent to treatment†( Gillick) The Human Rights Act 1998, which came fully into force on 2 October 2000, incorporates into UK law the bulk of the substantive rights set out in the European Convention on Human Rights: of particular relevance to this area Article 2, the right to life, Article 3,m the right not to be subjected to inhuman or degrading treatment, and Article 8, the right to respect for private and family life† (HRA 1998)

Open Market Operations- How and Why They Are Conducted Term Paper

Open Market Operations- How and Why They Are Conducted - Term Paper Example During inflationary periods, there is a lot of money supply in the economy and the government needs to take drastic measures to control the money supply before the rate of inflation worsens. The securities are offered at a higher interest rate than those of private institutions which attract most investors to acquire them and relevant deductions are then made from their bank’s reserves/ accounts. This reduces the money supply in the economy as the amount of money available for consumption to the members will reduce and so will the amount of money available in commercial banks reserves for lending which means that even the lending rate will increase. When the money supply in an economy is limited, the government may decide to increase the supply by buying back part or most of its securities from the public. The government buys them back at the rates agreed during time of sale to the investor. This means that some money will be deposited in the respective investors’ accou nts which will increase their disposable incomes and subsequently their spending. This will also increase the cash reserves of commercial banks hence they can lend money to the general public at lower rates. Open Market Operations – how and why they are conducted Marketing is something which must be performed in the right way possible in order to promote increased sale of a product. This should incorporate all components of a marketing plan and functions in addition. The marketing plan in that manner becomes the central application, which has the competency to improve the sales of a product in the global perspective. The marketing of a product largely relies on the marketing plan established in any given organization. Open markets operations are the principle tool of U.S monetary policy in which central banks buy and sell bonds and securities. The principle has been in use for several years and it functions to maintain reserve balances. It is worth noting that the United Stat es employs open market operations through the Federal Reserve Bank. There are several activities, which are conducted by the Federal Reserve Bank in order to make such operations worth running. However, this is a paper that critically explores open markets operations in terms of how and why they are conducted. It is worth noting that a critical review of the area under discussion is performed from a broad point of view. The Federal Reserve System was established in 1913 when the congress passed the Federal Reserve act. Although it is independent of the government, it is accountable to the congress because the congress can amend the Federal Reserve act when necessary. The Fed is called a "decentralized" central bank. By manipulating reserve balances the Federal Reserve can control the price of reserves in the market. The theory of open markets operations is quite simple; the fed buys securities when it wants to increase the flow of money and credit, and sells securities when it wants to reduce the flow of money and credit (Harvey 4). What they designate as their target interest rate speaks for what they are trying to fight. If they lower the interest rate they are fighting recession. If they raise the interest rate they are fighting inflation. The fed can choose from among many financial instruments to conduct open market operations: corporate bonds, corporate stocks, commercial paper, etc. it uses treasury

Hotel on the Corner of Bitter and Sweet Essay Example for Free

Hotel on the Corner of Bitter and Sweet Essay (1)The first thing I would do if I found out I was going to be evacuated from my home is start crying. Knowing that I will be separated from humanity I will also begin to become crazy, knowing what happens too all these people at the camps families suffering and loosing each other by being separated and killed will destroy me. The last hours I have at home I will pack few of my clothes, toothbrush, money, weapons and a journal not a diary because IM A MAN! Why would I pick to bring a journal instead of everything else I might poses you might be thinking is because since I am a man I probably will stay alive and get to write about my daily struggles I will be having in the internment camp. I would be forced to leave behind my phone, my computer, and mostly all my electronics because I wouldn’t want to risk being tracked. My list reveals that I’m going to be weak without all my things that I live on daily this evacuation will change my whole life and family. I actually don’t believe the Japanese Internment compares to the Holocaust, even though everyone has their right to their own opinions I don’t believe they compare. Because so many more Jews were killed during the Holocaust then Japanese being killed in the camps and no offense but the treatment the Jews were given from the Germans were way harsher than the U.S to the Japs. The Japanese had less camps and were given better treatment like food they were sent to these camps so the U.S. could view them and make sure that they weren’t spies. The Jew were sent to the camps and instantly put to work given numbers to represent when they were next to be killed.   Both sides of the internment were one U.S. getting involved was a good idea or a bad one. The United States putting most Japanese into internment camps can be seen as a bad idea because American is known for the Land of the Free. The U.S. putting most Japanese people into camps is definetley unconstitutional it makes people question is America really the Land of the Free? Obviously we know as we read America was just trying to be safe at this time, because in 1942 Roosevelt signs a Relocation in the United States because they believed that the Japanese were a threat to America. We were fighting against them at this time and they just didn’t want threats because they did believe that even though they came to America they still are going  to give information to Japan. That’s why in the book we saw Keikos former teacher be taken away by the â€Å"FBI† because they believed he was a spy. They still got an education, made a low salary and were given food in these camps it wasn’t like they were being slaves. I believe it was a good idea for America to get involved I think they did it smartly too they gave the Japanese camps where they would stay at and have their life I know you’re going to write but it’s not the same they are being forced to move but at this time they were being accused of being spies and doing bad things. Some people also just moved to America and where put into a camp where they can get a place to live, money and food instead of living on the street. It’s also only Japanese people so you’re with your kind. I guess I’m using a Jewish point of view because in our religion we are supposed to only marry Jewish people so I see this as a good thing being together as a race, but also we learn from our past.

John Locke :: Empiricists, Empiricism

In Chapter five Locke says, that the earth can be used by the people for their survival, protection, or anyway in which they could benefit from it. This is where I got a little confused. So then if everything on the earth belongs to everyone then what is individual property? I read it over and over and I’m not sure if I have the right answer but I’ll try. Everyone owns there own body, and all the work they do they do with their body. When a person works with their body on something that thing becomes their own because they did the work. And he also says that there is some sort of limit that people can’t take more than they can use. He uses acorns or other fruits as an example and says, â€Å"But how far has he given it us? To enjoy. As much as any one can make use of to any advantage of life before it spoils, so much he may by his labour fix a property in: whatever is beyond this, is more than his share, and belongs to others.† (Locke 20-21) He later says that if someone has too many fruits he could trade them for money.   Ã‚  Ã‚  Ã‚  Ã‚  I agree that everyone should use the earth to his or her advantage but not when it comes to endangering someone else or taking away something that someone needs more than you do. I agree that if you work with fruit trees that it is your right to eat those apples and that you should only take as many as needed. But that isn’t the case in society today. Let’s face it people are greedy and greed is something that has destroyed the world we live in. If there wasn’t any greed there wouldn’t be any murder cases or any kidnappings or robberies, etc, the list can go on and on. Another example is college acceptance. All students work for the same hope, to get accepted to a good college and hopefully gain a job that will best fulfill their needs. Say we have two identical students both scored a 1500 on their SATs and they where equally involved in their school. The only difference was that one student came from a wealthy family and the other stud ents came from a not so wealthy family. They both applied to Princeton. The outcome is that the student from the wealthy family gets enrolled as a freshman in the fall, and the other student is placed on the waiting list.

Sample of Resume

ALVIN B. PAILAN Address: BRGY,. Cabanbanan, Pagsanjan Laguna Mobile No. : 0909-4245-651 Email: [email  protected] com OBJECTIVES: To obtain a position that will best fit my qualification and develop further my ability and skills for a Continues career development. WORK EXPERIENCE Employer: ASIAPRO COOP. , Project: MANILA DOCTORS HOSPITAL Address: UN Avenue Ermita Manila Position: Plumber Maintenance Inclusive Date: November 3, 2008 to PresentJob description:-Responsible for maintaining of submersible, motor pump and installation of piping -repair plumbing works lavatory faucet, water closet -repair and installation of water supply -responsible preventive maintenance of vacuum pump and drinking fountain -monitoring of fire pump -responsible for cleaning of water tank and cistern tank – de-clogged sewer line and sanitary line – cleaning grease trap Company: INTERCONTINENTAL HOTEL MANILA Employer: ENJAYS HOTEL (HOLIDAY INN) Position: SHIFT PLUMBERInclusive Date: Septembe r 1999 – July 2004 Job Description: -Maintaining of fan coil unit -Repair kitchen equipment -Monitoring of submersible pump -Back washing of swimming pool filter -Repair plumbing works lavatory faucet, water closet -Welding and acetylene copper pipe -De Clogged all drain line -Corrective maintenance of plumbing work Company: KAPALARAN BUS LINE Address: PAGSAWITAN STA CRUZ LAGUNA Position: AUTO AIRCON MECHANIC Inclusive Date: May 1994 – September 1998 Job Description: -Welding and acetylene copper Pipe -charging Freon -Vacuuming Trouble shooting and repair air-condition Company:SANMIGUEL FOOD CORPORATION Address:Cabuyao Laguna Position:Sales Representative Inclusive Date:September 1998 – October 1999 Job Description:-Delivery of all items magnolia foods -Receiving product Seminar Attended: -Basic Safety Course The maritime training center of the Philippines 3rd floor G. E. Antonio bldg,. TM Kalaw St. Ermita Manila February 15, 2002 -Medical Gas Safety Training,. (CIGI) Manila Doctors Hospital January 13, 2010 -INGASCO INC. , Product knowledge and Safe gas handling Seminar Manila Doctors Hospital April 21, 2010 -DCDC AerocomEngineering training Manila Doctors Hospital September 16, 2010 -Pacific paint (Boysen) Philippines INC,. Boysen Painting Seminar Manila Doctors Hospital March 30, 2011 -Basic Life Support Course (Lay Rescuer) Manila Doctors Hospital August 12, 2011 EDUCATIONAL ATTAINMENT Tertiary Education: LAGUNA SCHOOL OF ARTS AND TRADE Address: BRGY. ,BUBUKAL,STA. CRUZ LAGUNA Course:Refrigeration and air-conditioning Technology YEAR GRADUATED: 1992 – 1994 Secondary Education: LAGUNA SCHOOL OF ARTS AND TRADE Address: BRGY. ,BUBUKAL,STA. CRUZ LAGUNA Year Graduated:1988 – 1992 Primary Education: UNSON ELEMENTARY SCHOOLAddress: BRGY. , CABANBANAN PAGSANJAN LAGUNA Year Graduated: 1982 -1988 SPECIAL SKILLS:Acetylene / gas welding -Plumbing works – Refrigeration and air-conditioning -Installation of piping PERSONAL DATA Date of Birth:October 16, 1975 Birth Place: Pagsanjan Laguna Civil Status: Married Religion: Roman Catholic Nationality: Filipino Height: 5’6 Weight: 160 lbs. Dialects: English / Filipino Fathers name: Bienvinido pailan Occupation: Driver Mothers name: Avelina Baltera Occupation: Sewer â€Å"I hereby certify that all the information above are true and correct to the best of my knowledge and belief’’

“Bless Me, Ultima”: The Role of Parents Essay

The novel â€Å"Bless Me, Ultima† by Rudolfo Anaya shows the complexity and changeability of human nature and destiny. The author reveals that in the process of maturation and development every person is being influenced by parents, friends and acquaintances. Anaya tells a story of a young boy Antonio who is troubled of uncertainty of his destiny and parents’ influence on his life. Gabriel and Maria Merez are Antonio’s parents, but they have conflicting views towards the future of his child. Therefore, it is very difficult for Antonio to accept either mother’s or father’s belief system. Antonio’s mother is very religious and she is devoted to Catholic Church. She teaches Antonio to follow God’s commandments, as well as to accept values and beliefs of the church. Moreover, she wants her son to become a priest following her Luna family traditions. Maria thinks that it is a sin to grow and she doesn’t want Antonio to choose his own destiny. But the heart prevails and â€Å"the tragic consequences of life can be overcome by the magical strength that resides in the human heart†. (p.34) Antonio’s father is rather important for his spiritual growth. Despite the fact that he wants his son to become Llano vaquero, he wants Antonio to feel independence and freedom. From the first glance Gabriel seems a common drunkard, but with the novel progression we see the depth and dignity of his relations with Llano. Antonio inherited father’s inquisitive and questionable mind. When one of the villagers dies Antonio asks: â€Å"God! Why did Lupito die? Why do you allow the evil of the Trementinas? Why did you allow Narciso to be murdered when he was doing good? A thousand questions pushed through my mind, but the Voice within me did not answer†. (p.23) Maria forces Antonio to follow her family traditions, whereas Gabriel wants him to choose the life of vaquero only if he wants. He doesn’t want Antonio to be in a state of regret as he is. In such a way, Gabriel is the first person who teaches Antonio to make his own decisions about the future. Works Cited Anaya, Rudolfo. Bless Me, Ultima. New York: Grand Central Publishing, 1994.   

Qué hacer en cita migratoria cuando no se habla inglés

Quà © hacer en cita migratoria cuando no se habla inglà ©s Si no se siente cà ³modo hablando en inglà ©s y tiene que realizar alguna gestià ³n migratoria en ese idioma o presentarse a una entrevista o vista no se preocupe, ya que existen soluciones sencillas segà ºn el caso. Este artà ­culo trata de cà ³mo resolver el problema del poco conocimiento de inglà ©s que puede surgir en  cuatro situaciones: traduccià ³n de documentos al inglà ©scitacià ³n ante el Servicio de Inmigracià ³n y Ciudadanà ­a (USCIS, por sus siglas en inglà ©s)citacià ³n para una Corte migratoriay cita para entrevista en un consulado o Embajada de los Estados Unidos en otro paà ­s. Cà ³mo traducir un documento al inglà ©s para el USCIS o un consulado Excepto en los casos muy concretos en los que se pide una traduccià ³n realizada por un traductor jurado y/o notarizada es suficiente una traduccià ³n certificada.   Esto quiere decir que es buena una realizada por cualquier persona que habla y escribe con fluidez el inglà ©s y el idioma del que traduce, generalmente el espaà ±ol. Este es un modelo de carta que se puede seguir para certificar dicha traduccià ³n. Esto es importante porque puede facilitar importante ahorro de dinero. Cita en una oficina del USCIS cuando no se habla bien inglà ©s Son muchos los ejemplos en los que el USICS puede citar para una entrevista. Como por ejemplo: Residencia permanente definitiva o condicional, en este caso por razà ³n de matrimonio.Entrevista por caso de  AsiloExamen para adquirir la ciudadanà ­a americana por naturalizacià ³n en los casos muy concretos en los que al solicitante se le permite rendir el examen en su idioma materno y no en inglà ©s, etc En estos casos, aunque puede que el oficial a cargo de un caso sea bilingà ¼e, eso no tiene que ser necesariamente asà ­. El USCIS no proporciona intà ©rpretes para traducir del espaà ±ol al inglà ©s y viceversa. Por esta razà ³n si se ha sido citado y no se siente cà ³modo hablando en inglà ©s, usted puede llevar a un intà ©rprete para que traduzca las preguntas y tambià ©n sus respuestas. El USCIS permite realizar la labor de intà ©rprete para las entrevistas a: Un familiar o amigo del entrevistado siempre que tenga  un conocimiento alto en los dos idiomas.Un traductor profesional. Los hay incluso con la especialidad de asistir a ese tipo de entrevistas a los que, là ³gicamente, hay que pagar por sus servicios profesionales. Lo ms conveniente es que el traductor sea un ciudadano americano o un residente permanente legal, y no un amigo que est en Estados Unidos temporalmente con una visa de turista, por ejemplo. Ya que en estos casos es posible que el oficial de inmigracià ³n decida que no lo acepta como intà ©rprete. Asimismo, los inmigrantes indocumentados deben abstenerse de pisar voluntariamente un edificio federal, particularmente los de inmigracià ³n, ya que pueden ser detenidos. Por lo tanto, no es conveniente que brinden sus servicios de traductor a un familiar o amigo. Adems,   otro requisito es que la persona que ha de traducir del inglà ©s al espaà ±ol y viceversa tiene que tener como mà ­nimo los 18 aà ±os de edad cumplidos. Por à ºltimo, tener en cuenta que aunque no hay una regla definitiva sobre el asunto, lo cierto es que en los casos de entrevistas a matrimonios el oficial de inmigracià ³n puede no permitir que un esposo bilingà ¼e traduzca para el que no habla inglà ©s. La razà ³n es que harà ­a ms difà ­cil detectar si se trata de un matrimonio de conveniencia. Cuando se tiene una cita en una Corte de Inmigracià ³n En este caso, la Corte sà ­ que brinda un servicio gratuito de intà ©rpretes. Es posible que la persona que va a realizar este servicio està © presente en la sala o, muy probablemente, està © en otra parte y la comunicacià ³n se tenga que realizar por telà ©fono. Por el contrario, las cortes migratorias no facilitan la presencia de abogados de oficio para defender a los migrantes. Son estos los que deben procurarse uno o defenderse a sà ­ mismos, quedando claro que las estadà ­sticas demuestran que hay una gran diferencia en resultados siendo mejores cuando los migrantes son representados por abogados. Cuando se est detenido o arrestado por autoridades migratorias Es muy importante no firmar ningà ºn documento que no se entienda. Este es un derecho de todas las personas, incluidos los migrantes indocumentados. Si hay algo que no se entiende, solicitar un abogado.   Entrevista en consulados y embajadas No es necesario llevar traductor ni a las entrevistas para solicitar visas no inmigrante como a las de visas de inmigrante. La razà ³n es que todos  los consulados y Embajadas de los Estados Unidos cuentan con trabajadores bilingà ¼es. En resumen, la falta de conocimiento de inglà ©s se puede arreglar de las formas explicadas en este artà ­culo. Este artà ­culo es sà ³lo informativo. No es asesorà ­a legal para ningà ºn caso concreto

Tap Water in 42 States Contaminated by Chemicals

Tap Water in 42 States Contaminated by Chemicals Public water supplies in 42 U.S. states are contaminated with 141 unregulated chemicals for which the U.S. Environmental Protection Agency has never established safety standards, according to an investigation by the Environmental Working Group (EWG). Tainted Tap Water Used by Millions of Americans Another 119 regulated chemicals- a total of 260 contaminants altogether- were found by the environmental group in a two-and-a-half-year analysis of more than 22 million tap water quality tests. The tests, which are required under the federal Safe Drinking Water Act, were conducted at nearly 40,000 utilities that supply water to 231 million people. Pollution Threatens Tap Water Quality According to a report by the EWG, the top 10 states with the most contaminants in their drinking water were California, Wisconsin, Arizona, Florida, North Carolina, Texas, New York, Nevada, Pennsylvania, and Illinois- in that order. EWG said the biggest sources of contaminants were agriculture, industry, and pollution from sprawl and urban runoff. Utilities Need More Enforceable Standards for Tap Water EWGs analysis also found that almost all U.S. water utilities comply fully with enforceable health standards once they are developed. The problem, according to the environmental group, is the EPAs failure to establish enforceable health standards and monitoring requirements for many tap water contaminants. Our analysis clearly demonstrates the need for greater protection of the nations tap water supplies, and for increased health protections from a number of pollutants that are commonly found but currently unregulated. said Jane Houlihan, vice president for science at EWG, in a prepared statement. Utilities routinely go beyond what is required to protect consumers from these contaminants, but they need more money for testing, and for protection of vital source waters. Additional Information: Why Is Chlorine Added to Tap Water?Does Fluoride in Tap Water Improve or Harm Your Health?

Modern Electronics and Personal Privacy Essay Example | Topics and Well Written Essays - 1500 words

Modern Electronics and Personal Privacy - Essay Example Growing Influence of social media: The number of people using the social media has increased significantly during this decade. Facebook remains the leader with over 400 million users (Widerlund, 2010). With the increasing number of people in this media, the traffic volume on these sites has also increased. Now, the question remains, how private is our private information on these sites? All the networking sites on the internet require users to share their personal details ensuring that their information would be kept safe. However, with this assurance comes the condition that the information can be shared for the security purposes. This means that every individual that uses these sites is being watched by the security agencies every time. In addition, the information is vulnerable to be hacked and misused. According to Consumer reports magazine 2010, one fourth of the Facebook users are not aware of the site’s privacy policy, and 9 percent of them reported forms of online expl oitation, the major one being, identity theft (Widerlund, 2010). ... It is a definite worrying point. People are of the view that popular networking sites such as Facebook earn their major chunk of revenue from marketing companies and, thus, sharing the users’ personal information with these companies is vital for them (Gaudin, 2010). Nevertheless, how right is this practice? Moreover, how long can this continue? This shall be discussed after every variable is taken into consideration. Although, the sites defend themselves by stating that the users are not reporting much issues and that the criticism is instigated by the competitors. In addition, that people are aware of the fact that when they come online, they do not expect their information to be 100 percent private. Moreover, these sites urge users to be active and smart in using these applications (Veer, 2011). Thus, the response of the social media is that they blame the propaganda and also the assumption of consumer awareness is taken as established. Still, questions need to be answered about the privacy in the chat messages, which are out of user control after they have been sent. No matter how much aware a user is, it is impossible to accept the fact that we cannot control our own personal space. Cell phones and privacy: When the question comes that if we would use a device, which can be carried along where ever we go, and which can be used to communicate in any way possible, our answer would rationally be, yes. But if it is further said that the device can also be used to track not only where we are, but also whatever we do and whoever we communicate with and however we communicate, the answer will be subjected to reservations. Well, to inform the readers, the device in question is none other than the cell

LEADERSHIP Assignment Example | Topics and Well Written Essays - 3000 words

LEADERSHIP - Assignment Example My MBA classes serve as my first real exposure to leadership styles and interaction with people of different cultures. At first, things feel awkward but as I learned more about the principles of leadership and human interaction, I begin to feel more at ease with the group. Given my experience, the three leadership skills that brings a lot of meaning to my life at this point are the skills in active listening, communicate assertively and influencing. Active listening is a very important skill that every leader should learn in order to understand their subordinates better and address their issues and concerns in the most appropriate manner. As for assertive communication, I believe that this still is very important because we all need to deal with certain issues that need to be addressed in certain manners. Influencing others on the other hand is a crucial skill that leaders need to master in order inspire others to follow us. In evaluating my leadership skills using the PDJ and feedba ck from my ground and some classmates, I realized that I need to develop the skills in asserting myself and influencing others. II. Evaluation of Leadership Behavior According to Kotter (1990), leadership involve several factors including setting direction, aligning people, motivating people and creating a culture of leadership. Koontz and O’Donnell (1959) describe leadership as â€Å"influencing people to follow in the achievement of a common goal† while Tannenbaum, R. , Weschler, I.R., and Massarik, F. (1959) define leadership as â€Å"interpersonal influence exercised in a situation and directed, through the communication process, toward the attainment of a specialised goal or goals.† Based on the definitions given, it can be surmised that leadership involves a complex and comprehensive approach to a given situation in order to achieve the desired goals. Based on my experience, leading a group is a complex process and there are a lot of things that one needs to consider in order to inspire people and achieve good results. Leadership styles vary from one person to another and for a leader to be effective; he or she needs to adopt a leadership approach that he or she is comfortable with. In my case, I have a clear vision of the future and understand the importance of clearly defining my development path in order to achieve my goals. By creating a sort of mind map and putting into context the kind plans that I have in order to reach my goal, I am better able to charter my courses of action. For instance, in an activity where my team had to work over the holiday season, I was able to visualize what my team needs to do over the holidays in order to achieve our goals. By visualizing the future tasks of the group and communicating my vision through text messages and emails to the members of my group, I was able to convey the right message to my team mates. Yes, some of my team mates feel that there are things that I need to improve in terms of planning and communication (see Appendix 9) but I believe that given the time constraints that we had, I was able to carry-on the task at based on my vision. In evaluating my leadership behaviour using my Personal Development Journal (PDJ) and the feedback from my peers, I

Unit 5 discussion board Essay Example | Topics and Well Written Essays - 500 words

Unit 5 discussion board - Essay Example In 2002, 70% of the notebook PCs sold were offered with a rebate and the concept seems simple enough (McGinn, 2003). Buy a $1000 notebook and save $200 after filling in the required paperwork, sending it into a third party processing center, and waiting the required number of weeks for your check to arrive. This is a great deal for the manufacturer as they have sold you a PC that was on sale for $800 and then asked you to loan them $200 for a couple of months. No interest is offered, and there is a risk that you may never see your money. Manufacturers rely on human nature to misplace the paperwork, send it in incomplete, or forget it ever existed. For the people that do get the rebate, they merely break even. The sellers have increased cash flow and sold a number of their products at $200 above market value. These practices are as deceptive as a carnival shell game and could have a negative effect on a companys reputation Whether a consumer will even apply for the rebate is largely determined by the amount being offered. While cosmetics that offer $1 back may go discarded, more expensive items will naturally get a better response. However, even on high-dollar electronics the rates can be surprisingly low. Timothy Silk, a University of Florida researcher, found, "...redemption rates, even on larger-ticket purchases such as computers and televisions, are well below 50 percent" (Keen, 2004). Networking accessories manufacturer Asante Technologies sees an even lower response rate. Jim Hsia, vice president of marketing says, "the typical redemption rate for his companys products hovers between 2 and 15 percent" (Millard, 2003). Most people will never see a rebate. In new car sales, rebates can work against the automakers intentions. A consumer electronics rebate can be used to attract attention to an item and create store traffic. However, on an expensive purchase such as a new car, the customer sees the rebate as part

Female Versus Male Homosexuality In Romantic Literature English Literature Essay

Female Versus Male Homosexuality In Romantic Literature English Literature Essay In Romantic poetry, there is a distinct disparity in the representation of male and female homoeroticism. Male homosexual poetry generally constitutes an intricate synthesis of personal feeling and Hellenistic-like homosocial tradition. Female homoerotic portrayals, however, are typically torn between either a sexually sublimed romantic friend ideal or a voyeuristic heterosexual male fantasy pervaded with panic induced by female sexuality. In other words, explicitly lesbian poetry undergoes heterosexualization that dilutes, and in some cases entirely overturns, any liberating potential the poem would otherwise possess. Moreover, while gay male narratives are often privileged within mythologized Hellenistic context and therein become purified and legitimized, lesbian poetry is denied access to a parallel Sapphic tradition. Thus, lesbians become de-Hellenised in Romantic poetry, alienating the reader from a positive tradition of female homoerotica. In To Lady Eleanor Butler and the Honourable Miss Ponsonby Wordsworth writes of the scandalous and infamous romantic friendship of the Ladies of Llangollen, two women who ran away from conventional marriage pressures and started a life together. The poem is saturated with a sense of close friendship and kinship without being blatantly sexual, and this deters reading the poem as a male fantasy. It seemingly advocates the security of the women, but neglects to portray the reality of the relationship as sexual. This reflects the general view of such relationships in the period: female pairs might, if they maintained a faà §ade of genteel respectability, be acclaimed, after the fashion of the day, as idealised romantic friends(483). Accordingly, the relationship between the Lady Eleanor and Miss Ponsonby is described primarily through euphemism and code. For example, Wordsworth describes the womens house as a Vale of Friendship(10) for the sisters in love(13). This conscious use of deli cately-worded expression and naming of the vale acts as a sort of cipher in the poem; it uses a platonic term like friendship in naming the location, suggesting that friendship is what exists there, but then uses a kinship term to describe what the reader familiar with the story knows is not real; the women are not, in fact sisters. Therefore, for them to be in love, the reader infers a similar hint that there is nothing sisterly about the love. Wordsworths construction of space in the poem also significantly influences its portrayal of the lesbian relationship. By addressing the ladies together in the title and referencing the vale, he creates a well-defined spatial framework in which this poem operates. He connects the space with nature and therefore keeps it in line with Romantic tradition: In Natures face the expression of repose(4). More than this, however, he illustrates this space as being a rare refuge for expression of lesbian desire, such that the ladies love can be allowed to climb . . . above the reach of time'(13). Therefore, the poem essentially addresses its own homophobic theme and by designing safe space for the lesbian lifestyle, it also draws attention to the dangerousness of it. In Christabel and Geraldine (lines 236-277 from Christabel), Samuel Taylor Coleridge designs a representation of female homoerotics that is, in many ways, different from Wordsworths. Outwardly, the lines are an empathetic exploration of tortured and repressed lesbian desire through the arrangement of Christabel and Geraldine as lovers. However, it is important to note that this reading can never go beyond compassion due to the omnipresent male presence. This presence, if the reader is to understand it as being Coleridge himself- that is, a heterosexual and very probably homophobic male(#)- therefore influences the readers analysis of lesbian desire in the poem. Accounting for the male persona, two potentially contradictory moods coexist in the poem-heteronormative panic and male voyeuristic fanstasy. The physical descriptions of Christabel and Geraldine act to deconstruct, and thus objectify, the women by mentioning their body parts: Her gentle limbs(stanza 20), her lids(stanza 21), her elbow(stanza 21) and ultimately, her breast(stanza 21). Obviously absent from these bodily descriptions is any mention of female genitalia, a conscious avoidance on Coleridges part; he wishes to circumvent the mention of phallic-barren sexual satisfaction of the lesbian couple. Since the poem is ultimately governed by a male persona, lesbian sex cannot exist as a valid coital act; a focus on parts of the female anatomy that are traditionally and acceptably sexualized like limbs and breasts without mentioning the genitalia maintains the idea that true sexual intercourse is between a man and a woman. Accompanying this denial of implied true sexual satisfaction are descriptions of mental and physical anguish. Christabels brain is described as one of weal and woe (stanza 21) while Geraldine describes the mark of [her] shame, this seal of [her] sorrow(stanza 23). Depicting lesbians as tormented may serve several purposes. In one sense, Geraldines declaration of shame indicates indicative self-hatred, reflecting the contemporary belief that those who engaged in homosexual activity are constantly aware of their insolent perverseness and therefore more likely to continue to self-harm. This punishes lesbian sexual interaction and therefore shields consequent male arousal in the form of acceptable persecution. Furthermore, Geraldine communicates a sense of frustration when she says to Christabel: But vainly thou warrest, For this is alone in Thy power to declare, That in the dim forest Thou heardst a low moaning, And foundst a bright lady, surpassingly fair: And didst bring her home with thee, in love and in charity, To shield her and shelter her from the damp air. (stanza 23) Geraldine expresses contempt that Christabel sought her out merely under the pretenses of platonic assistance, and that lesbian sexual interaction had not been the primary motivation, implying that sexual acts between women are inherently secondary to heterosexual sex. Despite the apparent conflict of the representation of female homoerotic activity in Wordsworths and Coleridges poems, there are key similarities that provide understanding into Romantic homoeroticism. For example, though lesbian desire in the poems is treated differently, both poets use the natural world as a conceptual framework for their particular representations of female homoerotics. While Wordsworth uses nature as a space in which lesbian desire is safely expressed, Coleridge uses the dim forest to essentially neutralize female sexuality and set Christabels pursuit of Geraldine explicitly as non-erotic motive. The poems also share the presence of a male presence which, in both cases, biases them, a characteristic that is ironic given the female-centered content. Although the male presence may not explicitly attempt to negatively represent female sexual relationships, female homosexuality becomes disemboldened and portrayed as less legitimate as a result. Contrary to female homoeroticism, there is a distinct freedom in the portrayal of male homoerotics in two poems The Cornelian and the To Eddleston (from Childe Harolds Pilgrimage, stanzas 95-96). These poems are about Byrons relationship with a choirboy named Eddleston, written years apart, and though the former shares similarities with the sexual vagueness of Wordsworths poem, it, unlike the other, is allowed to be reflected in Greek Love and the Hellenistic tradition. The Cornelian references specifically Greek pederastic tradition. One example of this is the use of the term pledge, a traditional Athenian approach to pederastic relationships. This allows the subject matter an known association with homosexuality, though to further ensure social acceptability, Byron does not focus explicitly on physical or sexual attraction between the two men. In fact, this early homoerotic poem in Byrons repertoire models a conservative euphemistic approach in the portrayal of its content much lik e Wordsworths poem. The only real capability of a sexual encounter between the Byron and Eddleston occurs in a safe pastoral setting where lovers can isolate themselves from the disapproving society: But he, who seeks the flowers of truth/Must quit the garden for the field. PEDERASTIC POWER STRUCTURE. which is characterized by a disparity in desire, To Eddleston, however, composed years after The Cornelian, is more explicit in its homosexual relationship between Eddleston and Byron. In it, Byron avoids euphemism and sublimation into friendship, such as that which occurs in Wordsworths To lady Eleanor Butlerà ¢Ã¢â€š ¬Ã‚ ¦. A comparison of the titles themselves begins to describe the difference in the poems. In The Cornelian, the content centers on a cornelian stone given to Byron by Eddleston around which Byron can employ Hellenistic structure. In To Eddleston, however, Byron focuses explicitly on his personal feelings regarding the death of Eddleston. While the first poem most easily implies friendship, the second poem describes Byrons lover as being now, more than friend. In contrast to a pederastic power structure, the power relationship in To Eddleston is implied to be more balanced between the two men. The most significant difference between the two poems, however, is the degradation of the boundary between homoerotic and the homosocial with differences in imagery. While this poem reflects notions of ideal love between men it also problematises this ideal through its use of sadomasochistic imagery. The 96th stanza is characterised by the use of violent metaphor. Byron describes himself as being pierced by arrows, an image that invokes both notions of romantic love through the tradition of Eros and also sadomasochistic penetration by the phallus in the tradition of Saint Sebastian, thus sexualizing the wounded male body. Thus, in what may be viewed as a tame evolution of the Hellenistic tradition represented in The Cornelian, Byron uses To Eddleston to express both the emotional and sexual relationship between he and Eddleston. The starkest difference between Wordsworth and Coleridges lesbian poetry and Byrons male homosexual poetry is that the representation of homoerotics is directly informed by the Byrons personal experience. His poems about male homosexuality are framed by the male presence of an author who is, himself, a character in the poetry, distinguishing these poems from the heterosexual voyeurism explored in the analysis of the lesbian poems. Byron has the freedom to approach homoerotic material with more sensitivity and nuance without objectifying the sexual and emotional attraction between the two lovers. Furthermore, the manner in which female and male depictions of homoeroticism explore Greek homosexual tradition is greatly inhibited by male writers of lesbian poetry verses male writers of male homosexual poetry. Byron utilizes a particular version of Greek mythology to portray and legitimize male homosexuality; in contrast, the women of Romantic poetry are denied access to Sapphic mythology and thus their Greek homosexual tradition. Though Romantic poetry does address the issue of same-sex love, it approaches male and female homosexuality in contrasting ways. Through the construction of lesbian desire in Coleridge and Wordsworth, the reader is positioned to read the narrative through a decidedly heterosexual discursive framework. Thus, female homoerotics must become either sublimated to a romantic and desexualized ideal or degenerate into male voyeurism characterized by ambivalent heterosexual fantasy and phallocentric panic. These disparities in construction are summarized in the way in which the concept of Greek Love is incorporated into the homosexual narratives of Romantic poetry. Hellenistic homoeroticism it remains important to Byrons justification of homosexual tradition and forms an integral element of his construction of homoerotics. Contrastingly, female homoerotics are decontextualized and through the denial of a specifically lesbian tradition, become demonized.

Physics of Car Racing Essay -- physics sport sports racecar car race r

This paper is a look at the physics behind car racing. We look look at how we can use physics to select tires, how physics can help predict how much traction we will have, how physics helps modern cars get there extreme speed, how physics lets us predict the power of an engine, and how physics can even help the driver find the quickest way around the track. Tires are the most important part of race or any car for that mater. (Physics of Racing) After all they are the only thing that is contact with the ground! Tires work by having a high coefficient of friction. Some slicks have a friction coefficient grater then 1! (Physics of Racing) Typical normal street tires have coefficient of about .5 to .6 . In physics we learned that friction was equal to mew times the normal force. Since race cars are typical much lighter then normal cars, they use tricks to increase the downward force on the tires. Some drag tires run really low pressure, other drag cars tune the car to lift the front wheels to put all the weight on the rear tires. Indy cars use a wing to generate down force, and ventures to suck the car to the ground. (How to Make Your Car Handle) Take a look at a good example of a slick and a normal street tire. The little holes on the slick are to check how much slick is left on the tire, since tires tend to ware on the edges faster. The gaps in the normal tires allow the tire to transfer water away from the tire, so the tire can make contact with the road. Goodyear makes a slick that is grooved for racing in the rain, but only crazy (Indy, F1) people do that! The circle of traction is a important racing concept with applications from physics. From newtons equation f=ma we know that the more force we apply to an o... ...turn, so you will end up off the track between points a and b. Because of this, many racing teams use a program called rars. (Physics of Racing) It has many popular tracks, and different styles of racing, and cars. It shows how the cars take the tracks, and has little lines for the apex. This can help the driver find the line. Refrences All Physics equations are quoted from: Physics for Scientices and Engineers 5th Edition Serway and Beichner Harcourt, Fort Worth 2000 Going Faster! Mastering the Art of Race Driving The Skip Barber Racing School Bentley Publishing, Cambridge 1997 How to Make Your Car Handle Puhn, Fred HPBooks, New York 1981 Chassis Engineering Adams, Herb HPBooks, New York, 1996 The Physics of Racing Beckman, Brian http://www.miata.net/sport/Physics/ 2002 Auto Math Handbook Lawlor, John HPBooks, New York, 1992

Marketing Mix Essay

1.1 Background to the Report Strategic management refers to analysing the important initiatives which are taken by the top management of the company on behalf of the owners. It successfully keeps a track of day- to- day activities which are going into an organization to organise the resources and plan a strategy which the organization should follow in order to get benefit in the business. It provides a direction to the organization and is closely related to the field of organizational structure. (Hambrick, 2007) In this report, strategic management of Singapore Airlines is critically evaluated on the basis of several strategies used by them. This not only helped the company in achieving the results but also enabled SIA to expand itself in the global market as well as establish a new base in the new expanding countries. 1.2 Aims of the research are – To develop a good understanding about what involves in Strategic management. To develop knowledge about constituents of strategic management process. Critical assessment of strategies of a selected organization. To throw some light on the internal and external environment of selected organization. Gap analysis for Singapore Airlines – 2. Analysis of internal framework of Singapore Airlines – Capability to restore competency in order to attain similarity with the change in business environment are termed as dynamic capabilities. This is done by reconfiguring, mixing and adjusting external and internal resources, skills and abilities (Teece et al., 1997). 2.1 Resources – Connecting strategic resources and core strategies is defined as ‘configuration’ by Hamel where core competencies and assets, process and assets are organized and combined in order to maintain strategies (Hamel, 2002). Resources are divided into two categories, tangible and intangible resources of Singapore Airlines. They are further divided into sub categories on the basis of which it can be assessed that core strategies and strategic resources were well connected. 2.2 Capabilities – On the basis of broad variety of competency and technological expertise in newly invented planes, Singapore Airlines effectively fascinated more airlines clients to its fleet management industry, securing its place as major fleet management facility providers of the world. It also persists on expanding its potential by means of strategic joint ventures. For instance, a joint venture agreement is signed by SIA with Panasonic Avionic Corporation in order to prepare a facility for maintenance, repair and operation of communication and in-flight entertainment. Facility will be based in Singapore and components will be generated by Panasonic Avionics (Singapore Airlines, 2011). 2.3 Core Competencies – Core competencies of Singapore Airlines consist of the interpersonal talents of its flight assistants and ability of its top level management in planning strategies for marketing. They endeavour to make flights as relaxing as possible (Singapore Airlines, 2011). 3. Analysis of external framework of Singapore Airlines – PESTEL Analysis FactorsSingapore Airlines PoliticalUnpredictable, SIA reject Air India offer EconomicSIA offer created trouble in Hong Kong SocialSIA Airplane crash in Taiwan TechnologicalQuick technology implementation EnvironmentalLaunch of A380 Air career LegalPassengers safety 4. Five forces of porter – Porter’s five forces model deliver a well-liked external analysis framework for Singapore Airlines. After analysing the internal and external framework of Singapore Airlines, S.W.O.T analysis is performed in order to assess SIA’s capabilities, followed by the critical analysis of corporate and business level strategies. 5. S.W.O.T. Analysis – Strengths – Singapore Airlines has an expanded geographical reach. They operate in a number of reasons like US, West Asia, Europe, Africa, South west Pacific and East Asia. They run flights to 63 cities globally, whereas its division Silk Air is offering flights in 12 countries with 39 cities. Considerable amount of revenue is generated by SIA group with its airline operations around the globe. Equally spread and diversified revenue base guarantees that group is not dependent on single geographic market for most of its profits, by which business risk decreases significantly. Though, SIA is basically a passenger airline, but the group is also offering various specialized services like engineering services, airline operations, cargo operations, etc. which are providing them stability by diversifying business threats. Additionally, SIA group has a policy of maintaining young aircraft fleets, which emit lower carbon emissions and have less burning of fuel per kilometres. This is also strength of SIA group as this factor helps in keeping maintenance costs less, along with reducing performance related security concerns (Heracleous, 2006). Weaknesses – SIA faced extremely competitive market in its initial phases. Many countries restricted air-route access to protect national airlines from other competitions. SIA worked hard to get access rights for many important airports (eg. Heathrow, Manchester) (Reddy, 2004). Various competitive authorities keep on investigating about Singapore airlines and its subsidiaries. For example, South Korea, Canada, Australia, South Africa and European Union investigated about SIA group in order to determine whether the rates, surcharges, and other characteristics of cargo service were determined lawfully or not. In financial year 2012, SIA paid administrative penalty to South African competition commission (2.8millionUSD) as settlement. Legal expenses connected with the inquiry and court case and time spent on this issue left an impact on SIA’s business and operations. Opportunities – Singapore Airlines with its well-built base of operations and proficiency, is well placed to reap advantages from the worldwide boom in tourism industry. This would help SIA Group to produce extra profits. Also, group is focusing on joint ventures and strategic operational alliances to add opportunities for growth and sales. SIA entered into partnerships (jetblue Airways) and code-sharing agreements (Virgin Australia/ Virgin America) in order to increase growth opportunities. For instance, SIA signed code share agreement with Virgin America in December 2012 (SIA, Virgin America reach code-sharing agreement, 2012). SIA will add its ‘SQ’ airline code to flights of virgin which are America-operated serving Washington DC, Las Vegas, Seattle, Chicago, etc Furthermore, SIA group has launched ‘Scoot’ which is a low cost carrier in order to grow its existence in low cost flight market. This step will enable SIA group to attract more groups of customers which will in crease its growth and revenues. Threats – Competition is very high in the airline industry. Reputation, safety records, customers service, flight schedules, fares, code-sharing relations are few parameters of competitions. SIA faces straight competition with other carriers on its route. Cathay Pacific, Japan airlines, United Continental,  AMR are few of its competitors. Extreme competition on the basis of price matching, promotions, discounting, capacity, etc. affects operating margins of SIA. Also, Natural disasters can have affect on SIA’s operations effecting the cash flows and financial state. Moreover, hike in the prices of jet fuel can increase operating costs, which can affect the profitability (Heracleous, 2006). 6. Strategies used by Singapore Airlines – 6.1 Corporate level Strategies – Diversification – Companies tend to grow their full potential in economies which are developing, with the help of strategic diversification. Strategy of diversification is followed by SIA at the corporate level. SIA group has number of primary companies with key companies being SIA Cargo, SIA Engineering Company and Silk AIR. They also have number of associated companies. Its Airlines divisions which consist of 49% ownership of Virgin Atlantic, 32 % of Tiger Airways and entire ownership of local carrier Silk Air cover basic segments of customer in the industry. This was a long-term strategy (Singapore Airlines, 2008). Benefits of using diversification by Singapore Airlines is to enable passing of learning and control quality and side by side reaping cost synergies. Subsidiaries serve as sources of learning; and also as progress arena for skills of management and corporate rather than divisional viewpoint through job rotation. Profit margins are better in related operations (like aircraft maintenance and catering) on comparison with airline business itself as structure of industry in those sectors is more favourable. (Singapore Airlines, 2008). Strategic Alliances – In April 2000, SIA joined Star Alliance as a step of its internationalization strategy. In the three main airline alliances, Star alliance hold its place  with Oneworld and Skyteam. Also, In India and China, SIA Group were investing through planned deals during this time. Deals were done with local services like engineering services, cargo85 divisions, catering and airport services. SIA is also under a code share contract with Malaysian Airlines. These airlines are offering up to 14 flights in a day between Kuala Lumpur and Singapore (Doganis, 2006). For the expansion of the company, strategic alliances are becoming more common tool. SIA used strategic alliances for increasing competitiveness in the global and domestic markets. This helped SIA in developing new business opportunities with the help of new services and products. This resulted in the expansion and growth of company globally. An alliance is a business-to-business relationship (Jeffrey, 2004). 6.2 Business level strategies – Differentiation strategy – Premium services were successfully delivered by Singapore Airlines to those customers who are very demanding and this can be termed as achieving differentiation strategy. This helped Singapore Airlines in identifying that different customers are broadly scattered, with varied needs and sufficient spending power. If an organization is unique in something which is valuable to its customers at the same time, it differentiates itself in the marketplace (Chamberline & Robinson, 1996). If an offer is valuable for the customers, they tend to be less sensitive to characteristics of competing suggestions where cost may not be one among these characteristics. This accomplishment of SIA challenges viewpoint of Porter that cost leadership and differentiation strategies are equally exclusive strategies (Porter, 1985). Differentiation strategy allowed Singapore Airlines to insulate itself partially from rivalry competitors of same industry. Customers of differentiated services were less sensitive to prices and they started preferring SIA over other airlines, that is, SIA succeeded in gaining customer loyalty (Hitt et al., 2007). SIA carefully applied this strategy and played safe by delivering premium services appropriately without over-proliferating them. leadership strategy – Singapore Airlines has considerably greater effectiveness than its peer group, which is a crucial aspect of an effective leadership strategy. They have young fleets which have lower maintenance costs; they are fuel efficient and have effective hedging of fuel. Labor cost of SIA is comparatively low (16.6%) than average of all prime airlines (20.1%) (Singapore Airlines, 2008). Singapore Airlines have youngest fleets in the airline industry, which is worth considering. Their fleets have average age of 75 months, and average age of half of airline industry fleets is 163 months. SIA’s fleets are much efficient. Younger planes are quiet, comfortable and fuel efficient. They have low repair, service and maintenance costs which are all part of its leadership strategy. 7. Recommendations – Keeping in mind the weaknesses discussed above, some recommendations for Singapore Airlines come into light like keeping company information confidential. SIA paid huge fine as various companies successfully investigated about SIA’s internal facts and figures. Also, they need to keep a close eye on its competitors who try to gain lead in the competition on the basis of price matching, promotions, discounting and capacity. 8. Conclusion – A variety of strategies were executed by Singapore Airlines by which the company is successful for a considerable time. By keeping a track on industrial environment and the macro environment, Singapore Airlines can uplift its capabilities to secure future success. However, as there are uncertainties in the environment and market keeps on altering quickly, it is crucial to monitor and carefully consider all the strategies before implementation. Singapore Airline’s potential to become accustomed to change will positively help the company..to..strive..on..with..competitors..in..the..future. 9. References – Chamberline. E, & Robinson, J. (1996). â€Å"Theory of Monopolistic Competition, What is Perfect Competition ? † Quarterly Journal of Economics, Vol. II, no. 4, 431- 433 Doganis, R. (2006). Outlook, The Airline business ed. 2, Routledge, Abingdon. Hambrick, D. C., (2007). What is strategic management really? Hamel, G. (2002). Leading the Revolution: How to Thrive in Turbulent Times by Making Innovation a Way of Life. New York: Plume Books. Heracleous, L. (2006). Flying high in competitive industry: Cost effective service at SIA. Mc Graw hill. Hitt, M., Hoskisson, R., Ireland, R. (2007) Management of Strategy: Concepts and Cases.7th ed., Thomson South-Western, USA Jeffrey, R., (2004). Strategic alliances: Theory and evidence, Oxford university press, US, 2004. Porter, M.E.(1985). Competitive Advantage. New York: Free Press, 6-22. Reddy, A. (1994). Total quality marketing: the key to regaining market shares. Westport, CT: Quorum Books. SIA, Virgin America reach code-sharing agreement (2012, December 15, Saturday). Business pg30..Retrieved..from http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20121215/1512BZC032.pdf SIA (2012). Virgin America reaches code-sharing agreement, December 15, 2012. Singapore Airlines, (2008). Annual Report, Singapore. Singapore Airlines, (2011). Annual Report, Singapore. Teece, D., Pisano, G., and Shuen, A.(1997). Dynamic capabilities and strategic management, Strategic Management Journal , 18, 509-533. reaches code-sharing agreement (2012, December 15, Saturday)

Financial Derivative Case Studies Essay

INTRODUCTION Financial derivatives have crept into the nation’s popular economic vocabulary on a wave of recent publicity about serious financial losses suffered by municipal governments, well-known corporations, banks and mutual funds that had invested in these products. Congress has held hearings on derivatives and financial commentators have spoken at length on the topic. Derivatives, however remain a type of financial instrument that few of us understand and fewer still fully appreciate, although many of us have invested indirectly in derivatives by purchasing mutual funds or participating in a pension plan whose underlying assets include derivative products. In a way, derivatives are like electricity. Properly used, they can provide great benefit. If they are mishandled or misunderstood, the results can be catastrophic. Derivatives are not inherently â€Å"bad.† When there is full understanding of these instruments and responsible management of the risks, financial derivatives can be useful tools in pursuing an investment strategy. DERIVATIVES: A derivative is a contractual relationship established by two (or more) parties where payment is based on (or â€Å"derived† from) some agreed-upon benchmark. Since individuals can â€Å"create† a derivative product by means of an agreement, the types of derivative products that can be developed are limited only by the human imagination. Therefore, there is no definitive list of derivative products. Why Have Derivatives? Derivatives are risk-shifting devices. Initially, they were used to reduce exposure to changes in foreign exchange rates, interest rates, or stock indexes. For example, if an American company expects payment for a shipment of goods in British Pound Sterling, it may enter into a derivative contract with another party to reduce the risk that the exchange rate with the U.S. Dollar will be more unfavorable at the time the bill is due and paid. Under the derivative instrument, the other party is obligated to pay the company the amount due at the exchange rate in effect when the derivative contract was executed. By using a derivative product, the company has shifted the risk of exchange rate movement to another party. More recently, derivatives have been used to segregate categories of investment risk that may appeal to different investment strategies used by mutual fund managers, corporate treasurers or pension fund administrators. These investment managers may decide that it is more beneficial to assume a specific â€Å"risk† characteristic of a security. For instance, several derivative products may be created based on debt securities that represent an interest in a pool of residential home mortgages. One derivative product may provide that the purchaser receives only the interest payments made on the mortgages while another product may specify that the purchaser receives only the principal payments. These derivative products, which react differently to movements in interest rates, may have specific appeal to different investment strategies employed by investment managers. The financial markets increasingly have become subject to greater â€Å"swings† in interest rate movements than in past decades. As a result, financial derivatives have appealed to corporate treasurers who wish to take advantage of favorable interest rates in the management of corporate debt without the expense of issuing new debt securities. For example, if a corporation has issued long term debt with an interest rate of 7 percent and current interest rates are 5 percent, the corporate treasurer may choose to exchange (i.e., Swap), interest rate payments on the long term debt for a floating interest rate, without disturbing the underlying principal amount of the debt itself. RISK INVOLE IN DERIVATIVES: There are four risk associated with derivatives. * Market risk * Operational risk * Counter party credit risk * Legal risk Market risk: The risk to earnings from adverse movements in market prices. Operational risk: The risk of losses occurring as a result of inadequate systems and control, human error, or management failure. Counter party credit risk: The risk that a party to a derivative contract will fail to perform on its obligation. Exposure to counterparty credit risk is determined by the cost of replacing a contract if a counterparty (as a party to a derivatives contract is known) were to default. Legal risk: The risk of loss because a contract is found not to be legally enforceable. Derivatives are legal contracts. Like any other contract, they require a legal infrastructure to provide for the resolution of conflicts and the enforcement of contract provisions. CORPORATION: BARING: Barings PLC was the oldest merchant bank in Great Britain. Founded in 1762. With total shareholder equity of  £440 million, it was far from the largest or most important banking organization in Great Britain. Barings had long enjoyed a reputation as a conservatively run institution. But that reputation was shattered on February 24, 1995, when Peter Baring, the bank’s chairman, contacted the Bank of England to explain that a trader in the firm’s Singapore futures subsidiary had lost huge sums of money speculating on Nikkei-225 stock index futures and options. In the days that followed, investigators found that the bank’s total losses exceeded US$1 billion, a sum large enough to bankrupt the institution. STRATEGIES AND TRANSACTION: CONTEXT: In 1992, Barings sent Nicholas Leeson, a clerk from its London office, to manage the back-office accounting and settlement operations at its Singapore futures subsidiary. Baring Futures (Singapore), hereafter BFS, was established to enable Barings to execute trades on the Singapore International Monetary Exchange (SIMEX). The subsidiary’s profits were expected to come primarily from brokerage commissions for trades executed on behalf of customers and other Barings subsidiaries. Most of BFS’s business was concentrated in executing trades for a limited number of financial futures and options contracts. These were the Nikkei-225 contract, the 10 year Japanese Government Bond (JGB) contract, the three-month Euroyen contract, and options on those contracts (known as futures options). The Nikkei-225 contract is a futures contract whose value is based on the Nikkei-225 stock index, an index of the aggregate value of the stocks of 225 of the largest corporations in Japan. The JGB contract is for the future delivery of ten-year Japanese government bonds. The Euroyen contract is a futures contract whose value is determined by changes in the three-month Euroyen deposit rate. A futures option is a contract that gives the buyer the right, but not the obligation, to buy or sell a futures contract at a stipulated price on or before some specified expiration date. STRATEGIES: During late 1992 or early 1993, Leeson was named general manager and head trader of BFS. Leeson never relieved his authority over the subsidiary’s back-office operations when his responsibilities expanded including trading. Barings’s management understood that such trading involved arbitrage in Nikkei-225 stock index futures and 10-year Japanese Government Bond (JGB) futures. Both contracts trade on SIMEX and the Osaka Securities Exchange (OSE). Leeson soon embarked upon a much riskier trading strategy. Rather than engaging in arbitrage, as Barings management believed, he began placing bets on the direction of price movements on the Tokyo stock exchange. Leeson’s reported trading profits were spectacular. His earnings soon came to account for a significant share of Barings total profits; the bank’s senior management regarded him as a star performer. After Barings failed, however, investigators found that Leeson’s reported profits had been fictitious from the start. By manipulating information on his trading activity, Leeson was able to conceal his trading losses and report large profits instead. A major part of Leeson’s trading strategy involved the sale of options on Nikkei-225 futures contracts. The seller of an option earns a premium in return for accepting the obligation to buy or sell the underlying item at a stipulated strike price. If the option expires â€Å"out-of-the money,† the option premium becomes the seller’s profit. If prices turn out to be more volatile than expected, however, an option seller’s potential losses are virtually unlimited. Sometime in 1994, Leeson began selling large numbers of option straddles, a strategy that involved the simultaneous sale of both calls and puts on Nikkei-225 futures. TRANSACTION: Leeson’s trading losses from 1992 through the end of February 1995. By the end of 1992—just a few months after he had begun trading—Leeson had accumulated a hidden loss of  £2 million. until October 1993, when his losses began to rise sharply. He lost another  £21 million in 1993 and  £185 million in 1994. Total cumulative losses at the end of 1994 stood at  £208 million. That amount was slightly larger than the  £205 million profit reported by the Barings Group as a whole, before accounting for taxes and for  £102 million in scheduled bonuses. By January 1, 1995, Leeson was short 37,925 Nikkei calls and 32,967 Nikkei puts. He also held a long position of just over 1,000 contracts in Nikkei stock index futures, which would gain in value if the stock market were to rise. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Disaster struck on January 17 when news of a violent earthquake in Kobe, Japan, sent the Japanese stock market into a tailspin. Over the next five days, the Nikkei index fell over 1,500 points Leeson’s options positions sustained a loss of  £68 million. As stock prices fell, he began buying massive amounts of Nikkei stock index futures. By February 6, the Japanese stock market had recovered by over 1,000 points, making it possible for Leeson to recoup most of the losses resulting from the market’s reaction to the earthquake. cumulative losses on that date totaled  £253 million, about 20 percent higher than they had been at the start of the year but within some days market began to fall again making losses to multiply. Barings faced massive margin calls as Leeson’s losses mounted. While these margin calls raised eyebrows at the bank’s London and Tokyo offices, they did not prompt an immediate inquiry into Leeson’s activities. It was not until Feb ruary 6 that Barings’s group treasurer, Tony Hawes, flew to Singapore to investigate irregularities with the accounts at BFS. Barings had committed a total of  £742 million to finance margin calls for BFS. WHO WAS RESPONSIBLE FOR THE LOSS? Some observers blame this lack of communication on the rivalry between the two exchanges. Communication between SIMEX and the OSE was minimal, however this lack of communication not only helped make it possible for Leeson to accumulate large losses but also hampered efforts to contain the damage once Barings collapsed. The exchange’s attitude toward Barings was influenced in part by the bank’s strong international reputation, but its willingness to relax normal risk management guidelines also may have been attributable to its desire to attract business. Events surrounding the collapse of Barings have served to highlight weaknesses in risk management on the part of SIMEX and other futures exchanges. Barings’ collapse was due to the unauthorized and ultimately catastrophic activities of, it appears, one individual (Leeson) that went undetected as a consequence of a failure of management and other internal controls of the most basic kind. Management failed at various levels and in a variety of ways WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? HIGHLIGHTED WEAKNESS: (1) The lack of communication between securities and futures exchanges and regulators in different countries, and (2) Conflicting laws on the legal status of customer accounts at futures brokers and clearing agents in the event of insolvency. These weaknesses can be addressed only by increased international cooperation among futures exchanges, regulators, and lawmakers. * Management teams have a duty to understand fully the businesses they manage. * Responsibility for each business activity has to be clearly established and communicated. * Clear segregation of duties is fundamental to any effective control system. * Relevant internal controls, including independent risk management, have to be established for all business activities. * Top management and the Audit Committee have to ensure that significant weaknesses, identified to them by internal audit or otherwise, are resolved quickly. METALLGESELLSCHAFT: Metallgesellschaft AG (hereafter, MG) is a large industrial conglomerate engaged in a wide range of activities, from mining and engineering to trade and financial services. In December 1993, the firm reported huge derivatives-related losses at its U.S. oil subsidiary, Metallgesellschaft Refining and Marketing (MGRM). STRATEGIES AND TRANSACTION: CONTEXT: In 1992, MGRM began implementing an aggressive marketing program in which it offered long-term price guarantees on deliveries of gasoline, heating oil, and diesel fuels for up to five or ten years. The first was a â€Å"firm fixed† program, under which a customer agreed to fixed monthly deliveries at fixed prices. The second, known as the â€Å"firm-flexible† contract, specified a fixed price and total volume of future deliveries but gave the customer some flexibility to set the delivery schedule. STRATEGY: By September 1993, MGRM had committed to sell forward the equivalent of over 150 million barrels of oil for delivery at fixed prices, with most contracts for terms of ten years. Both types of contracts included options for early termination. These â€Å"cash-out provisions† permitted customers to call for cash settlement on the full volume of outstanding deliveries if market prices for oil rose above the contracted price. Its contracted delivery prices reflected a premium of $3 to $5 per barrel over the prevailing spot price of oil. MGRM sought to offset the exposure resulting from its delivery commitments by buying a combination of short-dated oil swaps and futures contracts as part of a strategy known as a â€Å"stack-and-roll† hedge. TRANSACTION: In its simplest form, a stack-and-roll hedge involves repeatedly buying a bundle, or â€Å"stack,† of short dated futures or forward contracts to hedge a longer-term exposure. Each stack is rolled over just before expiration by selling the existing contracts while buying another stack of contracts for a more distant delivery date; hence the term stack-and-roll. MGRM implemented its hedging strategy by maintaining long positions in a wide variety of contract months, which it shifted between contracts for different oil products (crude oil, gasoline, and heating oil) in a manner intended to minimize the costs of rolling over its positions. Had oil prices risen, the accompanying gain in the value of MGRM’s hedge would have produced positive cash flows that would have offset losses stemming from its commitments to deliver oil at below-market prices. As it happened, however, oil prices fell even further in late 1993. Moreover, declines in spot and near-term oil futures and forward prices significantly exceeded declines in long-term forward prices. As a result, contemporaneous realized losses. WHAT WENT WRONG? HOW WAS THE LOSS ACCUMULATED? Decline in oil prices caused funding problems for MGRM. The practice in futures markets of marking futures contracts to market at the end of each trading session forced the firm to recognize its futures trading losses immediately, triggering huge margin calls. Normally, forward contracts have the advantage of permitting hedgers to defer recognition of losses on long-term commitments. But MGRM’s stack-and-roll hedge substituted short-term forward contracts (in the form of short-term energy swaps maturing in late 1993) for long-term forward contracts. As these contracts matured, MGRM was forced to make large payments to its counterparties, putting further pressure on its cash flows. At the same time, most offsetting gains on its forward delivery commitments were deferred. MG reported losses of DM 1.8 billion on its operations for the fiscal year ended September 30, 1993, in addition to the DM 1.5 billion loss auditors attributed to its hedging program as of the same date. WHO WAS RESPONSIBLE FOR THE LOSS? MG’s board of supervisors fired the firm’s chief executive and installed new management. The board instructed MG’s new managers to begin liquidating MGRM’s hedge and to enter into negotiations to cancel its long-term contracts with its customers. This action further complicated matters. The actions of MG’s board of supervisors in this incident have spurred widespread debate and criticism, as well as several lawsuits. Some analysts argue that MGRM’s hedging program was seriously flawed and that MG’s board was right to terminate it. Others, including Nobel Prize-winning economist Merton Miller, argue that the hedging program was sound and that MG’s board exacerbated any hedging-related losses by terminating the program too early. WHAT LESSONS ARE TO BE LEARNED FROM THE CASE/ DISASTER? Considering the debate over the merits of MGRM’s hedging strategy, it would seem naive simply to blame the firm’s problems on its speculative use of derivatives. It is true that MGRM’s hedging program was not without risks. But the firm’s losses are attributable more to operational risk—the risk of loss caused by inadequate systems and control or management failure—than to market risk. If MG’s supervisory board is to be believed, the firm’s previous management lost control of the firm and then acted to conceal its losses from board members. If one sides with the firm’s previous managers (as well as with Culp, Hanke, and Miller), then the supervisory board and its bankers misjudged the risks associated with MGRM’s hedging program and panicked when faced with large, short-term funding demands. Either way, the loss was attributable to poor management. FINAL CONCLUSION OF BOTH CASES: The cases of Metallgesellschaft and Barings provide an interesting study in contrasts. Both cases involve exchange-traded derivatives contracts. In both cases, senior management has been criticized for making an insufficient effort to understand fully the activities of their firms’ subsidiaries and for failing to monitor and supervise the activities of those subsidiaries adequately. But while critics have faulted MG’s management for overreacting to the large margin calls faced by one of its subsidiaries, Barings’s management has been faulted for being overly complacent in the face of a large number of warning signs. If these two disparate incidents offer any single lesson, it is the need for senior management to understand the nature of the firm’s activities and the risks that those activities involve.