Employment Relations Essay

â€Å"Parliament, over the most recent 100 years or somewhere in the vicinity, has a great deal to state about states of work and the connection among managers and their employees† (Deeks and Rasmussen, 2006). There have been numerous modern debates in regards to the discretion framework somewhere in the range of 1894 and 1991 which has impacted changes to New Zealand Employment Relations. One of the numerous mechanical debates was the waterfront modern contest 1951. This debate in New Zealand’s work history is the greatest modern contest that has affected changes to Employment Relations enactment. Despite the fact that it was not as fierce as the incredible strike of 1913, it endured longer-151 days, from February fifteenth to July 15, and included more laborers (Scott, 2001). The 1951 question set the legislature and open in opposition to the Watersiders after they chose to work to control in fight at their employers’ refusal to grant them a 15 percent pay rise (Kay, 2008). At its pinnacle, 22000 waterside laborers (wharfies) and different unionists were off the activity out of the number of inhabitants in just shy of 2,000,000 (Ministry for Culture and Heritage, Today ever, 2007). This exposition will examine the impacts, results and impacts of the 1951 waterfront mechanical question in this way how it turned the New Zealand Employment Relations around so as to maintain a strategic distance from debates as such from occurring and furthermore make a superior connection between the businesses and the workers today. The verifiable occasions with respect to New Zealand business relations are actually very wide spread. Numerous occasions, for example, strikes and lockouts have happened respects to necessary discretion. In 1894 Industrial Conciliation and Arbitration Act (IC ;An Act 1894) was intended to supplant mechanical activity with appeasement ; assertion. This was actualized to bring arrangement and contesting sides together to illuminate modern clashes. ‘Unions enlisting under the demonstration viably got selective arranging and haggling rights’, (Rasmussen ; Deeks, 2006, pg 52). Associations played significant intrigue bunches during this time. They assisted with elevating representative interests to fulfill work objectives, for example, better wages in this manner they turned into the legitimately perceived voice of the laborers in a specific industry.

How to Write an Analysis Essay

How to Write an Analysis EssayWriting analysis essay is an important part of a student's higher education. It will help students learn what they have learned in class. It will also help them to decide on what to write about and what questions to ask to the professor, so they will know what to do in the future.Writing analysis essay is one of the topics of higher education that needs high attention. Aside from teaching the content of the class, writing analysis essay should also be used to gather data that will allow the student to understand what they have learned. They will also know how to present the data to their professor so that the student will get the credit for their hard work.How to write an analysis essay? You can read the guide or you can ask an expert in this field. There are also many websites that offer helpful tips for this essay. These will help you do it.How to format a writing analysis essay? First, you need to write the introduction. This part will be the skeleton for your essay. You need to create an outline in the first paragraph. You should follow it with short paragraphs and then the body will follow after that.Second, you need to make some sample sentences in order to compare with your example sentences. It will help you see how your writing should be. If you want to include exercises, then write it in the last paragraph. This will give your student a chance to practice how to answer the questions. It will also help them to write better.Third, write a thesis statement in the third paragraph. This statement will tell your student about what you believe to be the common point of your topic. You should not forget to thank your reader for reading your essay. You need to close the document with a conclusion.Here are some tips for writing analysis essay. Keep in mind these tips so that you will be able to write good essays. After all, it is important that you do not get lost in the details in your essay.Writing analysis essay is one of the th ings that you need to do. It will help you understand what you have learned in class. Furthermore, it will also help you to ask questions to your professor so that you will be able to understand the things that they have taught you. So, you must try to do this.

Isolation In Frankenstein Essay Example For Students

Disconnection In Frankenstein Essay As indicated by the Greek artist Hesiod, the Titan demi-god Prometheus was liable for the making of men. He produced them from dirt, from the normal earth. At the point when Mary Shelley composed Frankenstein or the Modern Prometheus, she left little uncertainty that the maker of the beast, Victor Frankenstein, by getting by animal from inaminate parts was another Prometheus. Be that as it may, her illustration reaches out past the quickly self-evident. In Hesiods legend, Prometheus had an expanded feeling of vainglory and was resolved to be loved by men. Since men had no power over fire they were bound to stay negligible creatures. The illegal information ablaze, the most essential and regular type of vitality was the area of the god, Zeus. The inner self driven Prometheus got fixated on concocting a methods by which he could obtain fire and in light of no other intention than greatness, he cleverly took fire from Zeus and offered it to an appreciative humankind. Prometheus guile wi ll undoubtedly welcome disaster. Zeus retaliation was quick and twofold. Right off the bat, with the assistance of Hephaestus, Hermes and Aphrodite, he formed out of earth the principal lady, Pandora. From that point, men would never again be conceived legitimately from the earth; presently through ladies, they would experience birth by reproduction, and thus mature age, enduring and demise. She was given a case which contained all way of hopelessness and shades of malice and was liable for allowing them to get away, to torment mankind until the end of time. Besides, Zeus got Prometheus, anchored him to a stone, and every day a hawk would visit him and feed on his liver. Prometheus liver, in any case, renewed itself short-term, so he was sentenced less to a solitary demonstration of discipline however to ceaseless torment. This is the cost of altering nature. Prometheus extreme destruction was caused, not by a clumsy burglary, however by the main thrust of his own personal circumsta nce. By describing Prometheanism, Mary Shelleys Frankenstein is a scrutinize of male pride. Shelley speaks to male selfishness through the confidence of her wonder looking for characters. The demeanor of her storyteller, Robert Walton, is encapsulated by his faith in his natural option to have extreme achievement in Arctic investigations. He keeps in touch with his sister Margaret asking, do I not have the right to achieve some extraordinary reason? (Shelley 17) This mentality proceeds as he reveals to Victor that he would forfeit anything, including mens (probably different mens) lives for the accomplishment of his polar campaign and for the territory I ought to procure and transmit over the essential enemies of our race(28). This gloat, made inthe very middle of immense polar2. ice fields, induces Victor to recount to his story, as both an admission and furthermore as a notice to Walton. In the event that Victor is the Modern Prometheus, Walton is absolutely his understudy. Like Victors information on the most proficient method to make a living being from dead issue, the information which Walton looks for is prohibited; the mystery of nature. Before the finish of the novel Walton has gotten mindful of the dismal part of the Arctic. Surely, the cold-bloodedness of the Arctic has not been lost on the group of his boat who undermine revolt. Their human soul, in taking a stab at taboo information, when stood up to with the startling and secretive pit of nature, wants to withdraw trembling from the brutal and apparently boundless frosty wilds. On his deathbed, Victor asks them, Did you not call this a heavenly undertaking? .. You were from this point forward to be hailed as the sponsor of your species; your names revered, as having a place with the daring men wh o experienced passing and respect, and the advantage of mankind(214). In spite of Victors stirring discourse, the group resolve to come back to the security and warmth of Mother England, not, at this point ready to call themselves genuine men. Or then again, maybe they have some thinking ahead that, in discovering vindication in Walton The Confessor, Victors separating words would be, Seek bliss in peacefulness, and stay away from ambition(217). With these final words, Victor is at last ready to discharge himself from his doctrine of greatness and from life itself yet his unflagging selfishness won't let him surrender that he may have acted in mistake: I have myself been impacted in these expectations (of revelation), one more may succeed(218). Another, practically passing, reference to Prometheanism shows up when Walton reveals to Margaret that his lieutenant is in like manner frantically envious of glory(20). Victors dearest companion, Henry Clerval, is one male who seeks after hi s destinations without taking a stab at brilliance. This is because of the directing impact of a female, the exemplification of a contemporary guys thought of gentility, Elizabeth Lavenza. While growing up together, she unfurled to him the genuine flawlessness and value, and caused the doing great as far as possible and point of his taking off ambition(38). .uf760c6cd54b62cac1980b08acc781dc9 , .uf760c6cd54b62cac1980b08acc781dc9 .postImageUrl , .uf760c6cd54b62cac1980b08acc781dc9 .focused content territory { min-stature: 80px; position: relative; } .uf760c6cd54b62cac1980b08acc781dc9 , .uf760c6cd54b62cac1980b08acc781dc9:hover , .uf760c6cd54b62cac1980b08acc781dc9:visited , .uf760c6cd54b62cac1980b08acc781dc9:active { border:0!important; } .uf760c6cd54b62cac1980b08acc781dc9 .clearfix:after { content: ; show: table; clear: both; } .uf760c6cd54b62cac1980b08acc781dc9 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; haziness: 1; progress: mistiness 250ms; webkit-progress: murkiness 250ms; foundation shading: #95A5A6; } .uf760c6cd54b62cac1980b08acc781dc9:active , .uf760c6cd54b62cac1980b08acc781dc9:hover { darkness: 1; progress: obscurity 250ms; webkit-change: haziness 250ms; foundation shading: #2C3E50; } .uf760c6cd54b62cac1980b08acc781dc9 .focused content region { width: 100%; position: rel ative; } .uf760c6cd54b62cac1980b08acc781dc9 .ctaText { fringe base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: intense; edge: 0; cushioning: 0; content enrichment: underline; } .uf760c6cd54b62cac1980b08acc781dc9 .postTitle { shading: #FFFFFF; text dimension: 16px; textual style weight: 600; edge: 0; cushioning: 0; width: 100%; } .uf760c6cd54b62cac1980b08acc781dc9 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; outskirt: none; fringe sweep: 3px; box-shadow: none; text dimension: 14px; text style weight: striking; line-tallness: 26px; moz-outskirt range: 3px; content adjust: focus; content adornment: none; content shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: outright; right: 0; top: 0; } .uf760c6cd54b62cac1980b08acc781dc9:hover .ctaButton { foundation shading: #34495E!important; } .uf760c6cd5 4b62cac1980b08acc781dc9 .focused content { show: table; stature: 80px; cushioning left: 18px; top: 0; } .uf760c6cd54b62cac1980b08acc781dc9-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .uf760c6cd54b62cac1980b08acc781dc9:after { content: ; show: square; clear: both; } READ: Animal farm1 EssayAs Victor Frankenstein relates his story to Walton, he talks about the craving to learn past the physical sciences, to find supernatural insider facts which is in excess of a straightforward mission for insight. Fuelled by his apparent rise in regard and profound respect at Ingolstadt University, it turns into his fixation to discover everlasting life, a mission for prohibited information. Like Prometheus, he is driven by the idea of magnificence more than the advantage he may present to mankind: Wealth was a 3. mediocre article; yet what brilliance would go to the revelation, on the off chance that I could expel sickness from the human edge, and render man resistant to any however a savage death!(40). Furthermore, similar to Prometheus, he can mold a living being from inaminate parts. Be that as it may, here he has made a twofold offense. Not just has he conflicted with nature, and dodged the demonstration of multiplication, he has utilized the pieces of dead people to accomplish his outcome. Intensifying his wrongdoings, Victor makes his gravest blunder. His selfishness doesn't permit him to satisfy his commitments as a maker; to support and accommodate his posterity . Victor finds the vibe of the demoniacal body excessively detestable; .however since I had completed, the excellence of the fantasy evaporated, and winded awfulness and nauseate filled my heart(57). Shelley utilizes the beast to distribute Victors discipline. Disappointed by an absence of sympathy, the beast looks for retribu tion upon his maker. By executing William, Clerval, and Elizabeth, the beast oppresses Victor to the disturbance of his own brain and feelings, in this way obliterating any desire for peacefulness, and his resulting capacity to legitimize unmistakably and profoundly. Victors capacity to devise an arrangement whereby he can crush his creation is eclipsed by his own pickle, only seeking after the beast to any place the beast wishes to lead him. Victors interminable discipline isn't such a great amount of physical as mental and passionate. Conversely, Clervals passing has nothing to do with his aspirations. Maybe, in light of the fact that his intentions are good, that is, not sense of self driven, that he is permitted to bite the dust rapidly. Be that as it may, as William, Victors sibling, and Elizabeth, it is the fondness gave on him by Victor that makes him a casualty; his passing is nevertheless another piece of what keeps Victor, similar to Prometheus, tied in an endless hell(211 ). While trying to mollify the beast, Victor consents to make a female partner, a Pandora. Be that as it may, when half finished, he guarantees, similar to Pandora, she may become ten thousand times more threatening than her mate or a race of fallen angels would be engendered upon the earth(165). Within the sight of the beast, he annihilates his work. Be that as it may, it is the absence of glorification were she to become what he predicts which truly stops him continuing. In the event that his selfishness had permitted him to accept mankind would wonder about his accomplishments, he would have continued onward. In this way, with his Promethean attributes in affability, Victors personal circumstance de

A Simple Guide to Netiquette - Free Essay Example

A simple guide to Netiquette – Internet Ethics You may think you know all about netiquette and all the rules that are there to know, but here is a simple guide to help you with the Internet ethics and also email etiquette. * Remember that in spite of there being passwords to protect your privacy on the Internet, nothing is private, everything seen, forwarded and received by you can be monitored by people and seen by people for whom it was never intended. So while sending out emails or correspondence, official or otherwise, be cautious about what you send and what consequences it can have for you. Company email is company property and hence not private. Anything you send or receive via the company is the property of the company and can be monitored and viewed by them, be extra careful here. * Never be offensive, racist, biased, libelous or obscene on the Internet, be it via email or otherwise. Some jokes are just in bad taste and will not be appreciated. * Emails and the Internet is free of emotions and hence all communication can be interpreted. Use of emoticons, capital letters, and exclamatory marks can be interpreted as shouting or rude behavior, so avoid all such things in your communications unless otherwise intended. Do not forward messages and email unless the sender and the receiver give you the go-ahead. Even when you are forwarding humor to colleagues, remember some may not appreciate it. Chain mails and forwards are a strict no-no. * Always give the receiver of your message some time to revert back to you. There could be a technical problem or the person hasnâ€⠄¢t had the chance to read your mail. Be patient and never send a rude email following the first for lack of response. * Sloppy emails with typographical errors or grammatical errors are not pleasing to the eye and certainly do not make a good impression. Always use spell check while sending out an official email. * Include the original message thread so that the person knows in what context the reply was sent. * If you are sending an email to someone for the first time always include a subject line, if you do not, your email may be tagged as Spam and could get you in trouble. These are just some of the rules or code of ethics used on the Internet. The Internet is a large place to get lost in, and also a large place to get into trouble. Always make certain that your netiquette is up to the mark and no one has a chance to point a finger at you. Source : https://www. buzzle. com/articles/netiquette-internet-ethics. html Kevin Michael T. Cusi Abmc comm4 Reaction Paper The internet is the most powerful source of information. You type a word in the search engine then thousands appear in seconds. It is the easiest way to data for research. When the internet was born, a new civilization emerged. It has been a great contribution to people from all over the world. It has its positive traits but also, it has its negative side as well. The internet nowadays is being abused and also misused. Abused in terms of abusing the capabilities of the internet to make money like for example exploiting children to do online pornography. Child pornography is very rampant nowadays. Young children are forced to appear naked in front of a camera for the pleasure of reckless people who pay for the live shows. That is why it will never run out of service because the internet users are getting paid to produce these live shows. Misused because all has access to use the internet so all has the access to reach sites which are not allowed for their ages. Media is growing everyday. You will be surprised of what the children know about the internet. Children can make use of the internet as a way to access sites that are strictly for adults, thus giving them ideas and making them think that what they see on the internet is good. The netiquette is a set of rules that everyone should know about. When we use the Internet we lack the ability to truly interact with another individual. We cannot see facial expressions, body language or hear the tone of how words are being said. One can quickly take something out of context. Because of the lack of interpersonal communication, netiquette is an extremely significant factor to practice while using the Internet. Communication over the Internet should have the same guidelines as if you were talking to an individual face-to-face. As in other aspects of life, there are rules that need to be followed. Proper netiquette shows professionalism and courtesy. It is very important to keep your messages short and to the point. It is also important to put an appropriate subject in the subject line in order for the recipient to know what the e-mail is about before it is opened.

Should Abortion Be Legal - 1652 Words

Teens should not be allowed to have abortions Imagine your life in the hands of a teenager. This is the case of many unborn children. In today s society teens are allowed to have abortions with or without parental consent, even under the age of 18. Allowing abortions is overriding the basic human rights. Teens under the age of 18 shouldn t be allowed to have an abortion because of the basic human rights of a fetus. Teens themselves don t have certain rights so how are they allowed to have rights over someone else s life. Teens under the age of 18 can t get major surgeries without parental consent, yet an abortion is a major surgery. To every problem there is a solution. To overcome this problem a law that no teens under the age of 18 should not be able to get an abortion without parental consent should be enacted. This law can be made by Roe V. Wade enacting an age limit up to at least teens under the age of 18 require parental consent in order to have an abortion. The article, â€Å" reasons women give for abortion: a review of the literature.† States some reasons why women decide to obtain an abortion. The most common being because of â€Å"wrong timing†. Maybe someday they do want to have kids but they think at the moment isn t the right time to do so. This might be because they are not yet ready for motherhood and the desire not to disrupt education, work, or life plans. Being to young to be a mother is a feature ofShow MoreRelatedAbortion Should Not Be Legal1647 Words   |  7 PagesOne of the most highly debated topics is abortion and whether or not it should be legal. People who oppose abortion, meaning they are pro-life claim that abortion should be completely illegal with no aspects of it whatsoever; it can be a murder for the people standing against it. The other side of the argument, meaning people who are pro-choice, defend it by believing it to be a right been given to the women. They also claim even if a bortion was to be illegal, it would still be practiced. EveryRead MoreAbortion Should Not Be Legal920 Words   |  4 Pagesworld has struggled with for ages and one thing that people are advocating around the world for is abortion. Abortion is either a procedure or pill that stops a fetus s heart. Abortion should not be legal because life beings at creation, abortions are a direct violation of the 14th amendment, and thousands of people would love to adopt a child: handicapped or otherwise. Abortion should not be legal because life begins at creation. What is creation? Some people say conception, but it actually isRead MoreShould Abortion Be Legal?1320 Words   |  6 PagesAbortion, as you all may know, is a really popular topic. There have long been many debates between the two groups, pro-life and pro-choice. People who are pro-life believe that part of the government’s job is to protect all forms of human life. Those who are pro-choice believe that every individual should have control over their own reproductive systems. Pro-life supporters strongly believe that even an undeveloped fetus has life; it is still growing and it needs to be protected. And this soundsRead MoreShould Abortion Be Legal?1217 Words   |  5 PagesNovember 2015 Should Abortion be Legal Among all the issues that have been fought for or against in the United States, abortion may be one of the most popular issues that Americans are passionate about. Abortion is defined as the removal of the embryo or fetus from the uterus in order to end a pregnancy. Thousands of abortions take place every single day, and yet public opinion remains at a standstill as to whether or not abortion is ethical. Everyone holds different opinions on abortion. The proponentsRead MoreAbortion Should Not Be Legal Essay1596 Words   |  7 Pages Abortions have been performed on women for thousands of years. Abortion is the deliberate termination of a human pregnancy. Most often it is performed during the first 20 weeks of being pregnant. The controversy over whether or not abortion should be legal continues to divide Americans till this day. An important landmark case was the Roe v. Wade case, where the Court argued that the zone of privacy was broad enough to encompass a woman s decision whether or not to terminateRead MoreShould Abortion Be Legal? Essay1089 Words   |  5 PagesWhen the word abortion is heard, it is always associated with many negative things such as murder and inhumanity. However not legalizing abortion creates a huge problem for women around the world. Having a child takes consideration, planning and preparation and if pregnancy happens without any of this, why bother to have it at all? The reasons why abortion should be legal is that it supports the fundamental human rights for women by giving them a choice, it reduces crime by reducing the number ofRead MoreShould Abortion Be Legal?1135 Words   |  5 PagesKelsi Hodgkin Composition 1 Professor Chipps 19 October 2015 Should Abortion Be Legal A common debate in the world today involves abortion, the deliberate end of human pregnancy, and whether or not it should be legalized. â€Å"Every year in the world there are an estimated 40-50 million abortions. This corresponds to approximately 125,000 abortions per day† (â€Å"Abortions Worldwide this Year†). On one side of the argument, people are not disturbed by this grotesque number, and on theRead MoreShould Abortion Be Legal?963 Words   |  4 PagesLegal or Illegal? Which would you prefer? Not many are willing to discuss such a gut wrenching topic, but this needs to be addressed. It is a very controversial topic with having to do with women rights and activists. Since there are two sides to every argument, there is one side such as to make abortion legal and the opposing side to keep abortions illegal. In my opinion making abortion illegal can regulate the amount of women who do get pregnant. I believe that making abortions legal will let womenRead MoreShould Abortion Be Legal?867 Words   |  4 PagesABORTION Abortion is a deliberate termination of a human pregnancy, most often performed the first 20 weeks of pregnancy. There are series of legal, moral and ethical issues which may arise about abortion. Most arguments about abortion are often focused on political insinuations and the legal aspect of such actions. Some frequently asked questions’ regarding the issue is if the practice should be outlawed and regarded as murder or should women have the right to practice it. For example, prior toRead MoreShould Abortions Be Legal?939 Words   |  4 PagesShould abortions be legal? Abortions have been a big issue since the Roe v Wade case. There have been a lot of disagreements between the Pro-life supporters and the pro-choice supporters. Pro-life supporters feel like abortions deter murder, while pro-choice supporters believe that the women should be able to make their own decisions. I am a part of the pro-life supporters because I feel like abortions are wrong for several of reasons. Why should women get an abortion if there are other choices for

Partisan Politics A Republican Party Point Of View

Partisan Politics: A Republican Party Point of View In the 1790s, partisan politics emerged due to the opposing views on how the new nation should be governed. The two parties that developed were the Federalists and the Democratic –Republicans. The Republicans were a group that believed in the strong states’ rights, restricted power for the federal government, and a stern clarification of the Constitution. Thomas Jefferson and James Madison led the party. The Republicans ideal government favored liberty and believed that the government should be receptive to the people. The party believed that the states’ should be dominant in governing because they wanted assurance that individual liberties would be protected from government tyrants. The†¦show more content†¦During the debate, Thomas Jefferson stated that, â€Å"The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States, by the Constitution.† The Republicans believed that the creation of the bank would put too much power into the hands of the elite and that could possibly lead to corruption. In Debate on the First National Bank, it was stated that Congress would have the power to do whatever would be for the good of the United States; and they would be the sole judges of the good or evil, which would give them power to do whatever evil they pleased. The Republicans wanted to eliminate all debt incurred by the new nation. However, according to the bill for the proposal of a National Bank, they would be borrowing money that they did not have and others would have to pay it back. Jefferson and his supporters did not believe that it was fair to the economically stable states to take on the financial burden of those states that were fiscally irresponsible. In theory, the National Bank would benefit the North more so than the South. The southern states had become successful in agriculture and able to pay their debts. They wanted agriculture to become the backbone of the nation and anticipated that agriculture could lead them to nationwide prosperity. Yet, there were many in the country that did not have faith in the ideals and decisions of the common people. The Federalists were

House On Mango Street (672 words) Essay Example For Students

House On Mango Street (672 words) Essay House On Mango StreetIn The House On Mango Street Esperanza reveals personal experiences throughwhich the reader is able to determine what kind of person she is; her views onlife, how she views herself, as well as how her poverty affects her view oflife, her view of her future, and how her poverty currently affects her place inthe world. The vignettes show different aspects of Esperanzas identity as itevolves and changes progressively throughout The House On Mango Street. Esperanzas identity, as divulged in the vignettes, is multifaceted. Hershyness is evident when she is around people who are unfamiliar to her. This ismost likely due to the intimidation these people pose. For example, in thevignettes The First Job and A Rice Sandwich Esperanza is too shy toeat with her other co-workers and peers, as shown in the following quotationfrom The First Job: When lunch time came I was scared to eat alone inthe company lunchroom. Another dominant feature in Esperanzas personalityis the trust she has in others. This is one of Esperanzas weaknesses as anindividual because it allows her to be gullible and vulnerable. In ?CathyQueen of Cats Esperanzas gullibility is obvious when Cathy tells Esperanzathat father will have to fly to France one day and findhercousinand inherit the family house. How do I know this is so? She toldme so.. Another error in trusting others is that Esperanza is susceptible tobetrayal. In ?Red Clowns Esperanza is betrayed by Sally because Sally toldEsperanza that the circus would be a fun experience, but instead she was raped. Esperanza blames Sally, the magazines, and the movies for lying to her about thecircus. Esperanza is a very idealistic person. She assumes everything is prettyand fun, but when she finds out the acrimonious reality of life she becomesdisappointed and deems herself stupid for not knowing better. Unbeknownst toEsperanza, her naivetà © and inexperience is normal. For example, in?Gils Furniture Bought Sold Esperanza assumes that a music box isa pretty box with flowers painted on it, with a ballerina inside butwhen its revealed to her that a music box is just a wood box thatsold and got a big brass record in it with holes she feels ashamed she did notknow better. Despite her low self-esteem she still keeps hold of her dream ofacquiring A house all my own.. Esperanzas perception of herself doesnot mirror who she really is. She views herself as unattractive, unintelligent,insignificant and out of place. Such statements as, skinny necks andpointed elbows like mine.do not belong here but ar e here provideevidence. In ?Four Skinny Trees Esperanza describes the four trees outsideher house as how she sees herself; how she has not found her place in the world. Esperanza, like the trees, is trapped. While Esperanza is trapped on MangoStreet, the trees are trapped in concrete. The quotation from Four SkinnyTrees illustrates an optimism despite the limitations. Four who grewdespite concrete. Four who reach and do not forget to reach. The desire toleave Mango Street is the desire to lay new roots. There is an optimism which isinconsistent with Esperanzas negative self image. Esperanzas poverty actsas a physical obstacle from leaving Mango Street, but it does not prevent herfrom creating dreams and desires. On Mango Street Esperanza lives in adilapidated, tiny house; a house with bricks crumbling in placesEverybody has to share a bedroom From this poverty was bornEsperanzas dream. I knew then I had to have a house. A real house.Although her dream is to live in a house with trees around it, a great bigyard, and grass growing without a fence, Esperanza does not plan to abandonthose who cannot leave Mango Street. They will not know I have gone awa y tocome back. For the ones I left behind. Esperanza maintains a commitment toher roots on Mango Street. At the outset of The House on Mango Street, Esperanzais presented as a shy girl with low self esteem. As the book progresses sheappears to become increasingly strong, and clear about her destiny. Her optimismprevails.

Self Improvement free essay sample

Self-Improvement Many people work toward something in order to improve themselves. This act of aiming toward something in order to achieve it is called setting a goal. Achieving goals usually improves the person who is setting them. Not abandoning the goal teaches the person discipline, and achieving the goal will improve the person as well. During this school year, I would like to improve myself by ameliorating my grades and becoming closer to God. This year, I would like to bring my grades from Bs and Cs to As and Bs. In order to achieve this goal, I will pay attention in class instead of talking to my friends. This is important so that I do not miss anything that the teacher says in class. In addition to paying attention in class, I can also begin studying every night and make sure that my homework is completed before class. We will write a custom essay sample on Self Improvement or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This will help me to improve my grades because I will not have to cram for a test or try to finish my homework right before it is due. Achieving this goal is important to me because last year, I did not put forth he effort to make the good grades that I am capable of making. I need better grades in order to be accepted into the college that I would like to attend, Boston University. Achieving this goal would make me feel that I can do anything if I work hard for it. Becoming closer to God is another goal that I would like to accomplish during this school year. Achieving this goal will require praying more often instead of Just when I need something. It will require doing more service work as well, which is the reason hat I have Joined service clubs at school such as CLC and Key Club. In addition to praying more often and doing service work, I will go to church every Sunday, which will help me to become closer to God. Achieving this goal is important to me because overall, I will be a better and happier person. I strive to improve my grades and my relationship with God during this school year. These two improvements will result in a general improvement of myself. Bringing up my grades to As and Bs by paying attention in class and completing my class work on time is crucial to my acceptance into my dream college, Boston University. Although ameliorating my grades is important to me, it is not the only thing that needs improving. Becoming closer to God is also something I strive to achieve throughout this school year. This can be accomplished by praying more, doing service work, and going to mass every Sunday. Setting goals is important because it results in self-improvement.

Free Essays on Ford

Ford Motor Company Industry Analysis The automobile industry began with Henry Ford’s production of the Model T in the early 1900’s. With the creation of the assembly line, cars became cheaper and quicker to produce, thus making them affordable for many people. There were originally 500 auto manufacturers. By 1908, there were only 200; and in 1917 only 23 remained. This vast reduction was due to large amounts of consolidation within the industry. Currently, the major competitors within the industry are Ford, DaimlerChrylser, General Motors (GM), Honda, Toyota, and Volkswagen. A few United States (US) manufacturers produce 23% of the world;s vehicles while Japan are responsible for 21%. The tendency for the industry is to be a global producer of automobiles; parts can be made throughout the world and assembled in many different places. The trend of consolidation has continued throughout today. Presently, this is evident in the recent acquisition of Chrysler by Daimler-Benz in late 1998! , thus forming Daimler-Chrylser. These consolidations have proved beneficial to consumers since companies have been able to reduce costs and pass those savings on to the customers. Some of the other major examples of consolidation are Nissan selling off a controlling 37% interest to Renault; General Motor;s 49% ownership of Isuzu; and Ford;s 33% majority of Mazda. Other efforts to become more competitive have translated into the European Union dropping trade barriers and European carmakers employing cost reducing efforts. American manufacturers have seen 2-3% growth over the last few years. Some current trends are the explosion in popularity of the Sport Utility Vehicle (SUV) and big luxury vehicles. In the future the global car market is full of potential. There are currently 44 million vehicles and by the year 2002 experts estimate that number will grow to 64 million. That growth is not expected to be in the US, rather in countries such as: Chin... Free Essays on Ford Free Essays on Ford Ford Motor Company Industry Analysis The automobile industry began with Henry Ford’s production of the Model T in the early 1900’s. With the creation of the assembly line, cars became cheaper and quicker to produce, thus making them affordable for many people. There were originally 500 auto manufacturers. By 1908, there were only 200; and in 1917 only 23 remained. This vast reduction was due to large amounts of consolidation within the industry. Currently, the major competitors within the industry are Ford, DaimlerChrylser, General Motors (GM), Honda, Toyota, and Volkswagen. A few United States (US) manufacturers produce 23% of the world;s vehicles while Japan are responsible for 21%. The tendency for the industry is to be a global producer of automobiles; parts can be made throughout the world and assembled in many different places. The trend of consolidation has continued throughout today. Presently, this is evident in the recent acquisition of Chrysler by Daimler-Benz in late 1998! , thus forming Daimler-Chrylser. These consolidations have proved beneficial to consumers since companies have been able to reduce costs and pass those savings on to the customers. Some of the other major examples of consolidation are Nissan selling off a controlling 37% interest to Renault; General Motor;s 49% ownership of Isuzu; and Ford;s 33% majority of Mazda. Other efforts to become more competitive have translated into the European Union dropping trade barriers and European carmakers employing cost reducing efforts. American manufacturers have seen 2-3% growth over the last few years. Some current trends are the explosion in popularity of the Sport Utility Vehicle (SUV) and big luxury vehicles. In the future the global car market is full of potential. There are currently 44 million vehicles and by the year 2002 experts estimate that number will grow to 64 million. That growth is not expected to be in the US, rather in countries such as: Chin...

Persuasive Speech Essay Example | Topics and Well Written Essays - 750 words - 2

Persuasive Speech - Essay Example the food that is served to us in the school cafeteria, they may actually be serving us Frankenstein foods or genetically modified foods which are not healthy. This is not to blame the canteen administrators because many of the foods sold at our groceries are in fact genetically modified and it is very difficult to figure out whether they are organic or not (Kenner). Genetically modified foods are already prevalent. They are a product of the factorization of our food industry that seeks to produce food in scale, albeit of lower quality than those that are naturally grown by our farmers. They are also peppered with chemicals so do not be surprised if you still do not feel nourished after a plentiful meal because most of the food you ate was not really food but were mostly composed of chemicals. This is not to say that natural foods are already gone and totally replaced by genetically modified foods. They are still present and are still grown by our farmers. Only that their products are seldomly picked by our grocery stores because they favor the GMO’s more than the healthier organic foods. Being such, GMO is ever present in the current servings of our cafeteria through its fast food servings. I understand that my fellow students love fast foods because of its taste and convenience. I do not like to contradict only that fast foods are not healthy both to our body and environment. This is supported by experts who concluded that â€Å"consumption of fast food, which have high energy densities and glycemic loads, and expose customers to excessive portion sizes, may be greatly contributing to the escalating the rates of overweight and obesity in the USA†. This was supported further by the study of Currie who suggested that the increase in the supply of fast food restaurants have a significant effect on obesity. It is evident that consuming non-organic food is unhealthy both to the body and environment. GMO’s food which is present in fast foods and most

Business research Skills Essay Example | Topics and Well Written Essays - 2000 words

Business research Skills - Essay Example The study revealed that the general confidence of students increases from first year to third year. Introduction In today’s society, education has a vital role to play in political, economic, cultural, social as well as intellectual life. It has the ability to increase the quality of life for individuals. Tertiary education, also referred to as third level education is particularly essential in improving individuals’ lifestyle. In addition, third level education can help individual secure exciting job opportunities. It represents a crucial transition for students as they join from secondary school and most of them will go out to the job market upon completion. It is a transition from school life to employment. When students join college or universities from secondary school, they are always looking naive and they do not know what to expect at the tertiary level. They do not have any research skills or they have too little if any. For most of the students, it is a dream come true when they join universities and college but their confidence is usually very low (Shapiro, 2009). In fact, some do not have any confidence at all. Studies have indicated that most students who have dropped their studies at the tertiary level always drop while in their first year. There are a number of reasons that can result to the dropouts. One of the reasons is their lack of confidence. Higher education is a complete new experience for them (Burton & Schofield, 2011). For any individual, new experience always have a strong impact and is usually essential determinant of their progress to the next level. First year is a challenging year for many students. It is viewed as a make or break year to them. Students who progress past first year have a higher chance of completing their studies since their confidence builds up as they advance towards the third year. Epistemology This term generally means knowledge. In philosophy, it refers to the scope of knowledge as well as the n ature of knowledge (Rescher, 2003). It addresses the ways in which knowledge is acquired. In addition, it gives a distinction between true knowledge and untrue knowledge. Education is all about acquiring knowledge. When a student joins college or university, their main objective is to extend their knowledge so that they can be ready for the job market. Lack of knowledge keeps their confidence at a low level. However, as they acquire knowledge across their 3 years in the university, their confidence increases and they can be ready to work on their own. Their epistemology increases and their confidence also increase in the process. Ontology Ontology refers to the study of the nature of reality or existence. It attempts to explain the entities that exist, how they exist and why they exist (Adelsberger, 2008). This term is usually confused with epistemology. However, it can be used in the context of knowledge sharing where it means specification of a conceptualization. It describes conc epts as well as relationships that might exist for a given agent. Ontologies in technology are domains that can be understood by computers and can be used in research. They assist in sharing information within education systems and they also personalized student support. Therefore, ontologies can be effective in improving the students’

American Politics in the Context of Obama’s Election and First 100 Days Essay Example for Free

American Politics in the Context of Obama’s Election and First 100 Days Essay The election of Barack Hussein Obama as the 44th President of the United States is a watershed in the history of American politics. In a country were blacks were once prohibited from voting just because of the color of their skin, his ascent into the White House is indeed a milestone. Obama’s victory is often attributed to several factors, including changes in voting behavior and public opinion and constant media exposure. Popular support of his regime did not end with the election hype – a 2009 Associated Press-GfK poll revealed that about 48% of Americans were satisfied with the economic outcomes of the Obama presidency’s first 100 days (Philstar. com n. pag. ). The rise of the Obama regime had a tremendous impact on American politics. It brought about the prospect of women and minorities gaining a greater voice in political institutions. But Obama’s first 100 days in office told a different story. His first 100 days revealed that the substance of his regime remained largely the same as that of George W. Bush’s. This just goes to show that in the context of Obama’s election and first 100 days, American politics changed its style but retained its hegemonic and elitist nature. Winning the nomination proved to be a greater challenge for Obama than winning the general elections. Because of a national political machine attached to her and her husband, Hillary Clinton was initially chosen by the Democrat Party to become its presidential candidate (Ceaser, Busch and Pitney 15). Although Obama was young, charismatic, cerebral and self-assured, the Democrats were apprehensive about his lack of experience in the political scene (Ceaser, Busch and Pitney 16). This weakness would probably not sit well with the American electorate, who were desperate for a leader who could rectify the damaging mistakes of the Republican administration (Ceaser, Busch and Pitney 15). But shifts in the economic and demographic profile of American voters rendered Obama a more suitable presidential candidate than Clinton. As of 2004, about 56. 6% of American voters were below 30 years old (Dahl n. pag. ). Majority of these individuals grew up using the Internet as an indispensable tool for work, study and leisure. When the Clintons staged their last national campaign in 1996, the Internet was just a fledgling industry. Obama’s youth and tech savvy (he kept a Blackberry with him at all times), therefore, would make him more appealing to the aforementioned voter’s age group than Clinton (Ceaser, Busch and Pitney 106). Obama must have been aware of these advantages of his – his election campaign involved mainly the utilization of the Internet. By April 2007, he already had 1,543,000 â€Å"friends† in his account in the social-networking website MySpace. com. In sharp contrast, Clinton only had 41,500 people in her network (Dupuis and Boeckelman 123). In the spring of 2008, Obama had at least 1 million â€Å"friends† in Twitter, while Clinton only had 330,000. Although they had the same number of Facebook â€Å"friends† during this period, the website’s largest pro-Obama group had over 500,000 members, while the largest Facebook group that supported Clinton only had 30,000 members (Tapscott 252). Furthermore, Obama’s rhetoric reflected the American public’s disillusionment with traditional political ideologies. His slogan, â€Å"Change You Can Believe In,† appealed to voters because it did not bombard them with highfaluting dogmas. Rather, it showed them that â€Å"change† meant exploring for new solutions to problems. The American people did not have to make do with traditional solutions which Obama believed have already failed them in the past. For instance, he is constantly criticized for his relative youth and limited high-level government inexperience. Obama downplayed this attack by claiming that â€Å"Dick Cheney and Donald Rumsfeld have an awful lot of experience, and yet have engineered what I think is one of the biggest foreign policy failures in our recent history† (Dupuis and Boeckelman 123). Through this argument, he pointed out that adherence to convention is not always the best for the nation. There are instances when the government and the people must work together and come up with new solutions. In addition, Obama created a firm connection between himself and the people by letting them know that he also underwent their plights. In his campaign speeches, he often used his experience as the son of a working woman and as the husband of a working woman in order to show to the people that he knew how it felt to be in their shoes (Leanne 52). He knew how it was to be poor, marginalized and to work hard just to keep ends meet. Thus, his cynicism towards conventional ideologies – he and so many other Americans remained impoverished despite their application. Given such a populist and down-to-earth campaign strategy, it was no longer surprising if Obama won a landslide victory in the 2008 national elections. But his first 100 days in office revealed that his regime was essentially the same as that of George W. Bush’s. Obama’s first 100 days revealed the â€Å"right-wing character of his administration and the class interests that it serves† (Eley n. pag. ). If there was any difference at all, it was the approach – Bush assumed a warmonger-like stance to obtain the presidency, while Obama adopted a populist one. Obama continued the Bush administration’s militarist and aggressive foreign policy. Although he promised that he will all American troops out of Iraq, troop levels in Iraq remained virtually unchanged. Furthermore, Obama expanded the war in Afghanistan and even extended it to Pakistan. Worse, he proposed a defense budget worth $664 billion – believed to be the largest appropriation for military spending in American history (Eley n. pag. ). The prison camp at Guantanamo Bay remains open, despite Obama’s pledge to eventually close it down. As a result, its inmates are at risk of being shipped to US military prisons such as those in Iraq and Afghanistan, where they can be tortured and or killed in secret. Under the guise of â€Å"moving on,† he blocked all investigations and or criminal prosecution of parties that were responsible for the torture of detainees in US military prisons across the world. Obama’s government also intervened in the procedures of several court cases in order to deny habeas corpus to detainees in US military prisons in Afghanistan (Eley n. pag. ). While Obama was busy perpetuating Bush’s foreign policy, the American economy further deteriorated. Mounting layoffs took place, along with wage cuts, home foreclosures and depreciation of real estate value and retirement savings. These developments, in turn, resulted in escalating hunger and homelessness. But instead of creating concrete solutions to put an end to these calamities, the Obama administration used billions of dollars in public funds to bail financial institutions such as AIG, Lehman Brothers and Merrill Lynch out of bankruptcy. Worsening the situation was that these banks were discovered to have been doling out huge portions of the bailout money to their executives as â€Å"bonuses† (Eley n. pag. ). It is very ironic that Obama, a black man who experienced growing up poor and marginalized, would end up perpetuating the repressive and anti-poor policies of his predecessor. But what Obama did reflected the recourse that the US most probably resorted to in order to steer itself from the economic crisis – tighten its grip over the Third World. It is during the current economic crisis that the US needs unlimited access to the natural resources of the Third World more than ever before. Thus, the Obama administration’s promise of â€Å"change† was replaced with the de facto continuation of the Bush regime. Works Cited â€Å"AP Poll: After Obama’s 100 Days, US on Right Track. † 24 April 2009. Philstar. com. 4 May 2009 http://www. philstar. com/Article. aspx? articleId=460799 publicationSubCategoryId=200. Ceaser, James W. , Andrew E. Busch, and John J. Pitney. Epic Journey: The 2008 Elections and American Politics. New York: Rowman Littlefield, 2009. Dahl, Melissa. â€Å"Youth Vote May have been Key in Obama’s Win. † 5 November 2008. MSNBC. 4 May 2009 http://www. msnbc. com/id/27525497. Dupuis, Martin, and Keith Boeckelman. Barack Obama: The New Face of American Politics. Santa Barbara: Greenwood Publishing Group, 2008. Eley, Tom. â€Å"Obama’s 100 Days. † 29 April 2009. GlobalResearch. ca. 4 May 2009 http://www. globalresearch. ca/index. php? context=vaaid=13419. Leanne, Shel. Say It Like Obama: The Power of Speaking with Purpose and Vision. New York: McGraw-Hill Professional, 2008. Tapscott, Don. Grown Up Digital: How the Net Generation is changing Your World. New York: McGraw-Hill Professional, 2008.

Jonothan Edwards Essay -- Edwards Puritan Calvinist Christianity Essay

Jonothan Edwards Works Cited Not Included He was considered a genius, quoted as a man of formidable intellect and master of puritan revival. During his time, he was an uncompromising Calvinist and he had the power of single-handedly keeping the Puritan faith strong and alive for almost sixty years by using a sort of influential scare tactic to provoke his audience. His name was Jonathan Edwards and his use of imagery was exquisite. In one of his great sermons "Sinners in the Hands of an Angry God," Edwards used phrases and parallelism that could simply move his listener or reader. Edwards described his view of a vengeful God and the consequences of sin with such strong emotion and vividness that it was sure too shaken up most, if not all of those who had the privilege of hearing or reading it. Edwards clearly portray an image of a fearful and powerful God in relation to a simple and weak man. Edward's dialect was very mighty and yet handled with class and ease. Edward's words were potent and astonishing and he was sure to shaken anyone who came across them. First, many of the beginning and following entries of "Sinners in the hands of an Angry God," by Jonathan Edwards, create many word pictures. Edwards begins by describing man, who was nothing other than insignificant and evil, and his relationship with God, who was angry and very much in authority. Edwards states, "There is no want of power in God to cast wicked men into hell at any moment. Men's hands cannot be strong when God rises up..." (Edwards,290). Edward's view of man is not only poor, but also small. Edward's view of God is very much almighty. Edward's follows up his views by stating, "He is not only able to cast wicked men into hell, but He can most ... ...od." Edward's use of pronouns and parallelism made his overall imagery just fabulous. Edward's phrases were fierce, strong, and stated with such ease and smoothness that his audiences could easily feel his words weather heard or read. Edwards is undoubtedly due all praises and recognition as being a intellectual genius. The sermon "Sinners of an Angry God" alone, clearly proves Edward's ability to control and imitate one's views of a very strong and angry God that must be respected. It is no wonder that Edwards had the ability to keep the Calvinistic views of his time very dominate and alive. Edwards knew very well how to use words as a means of pure command, influence, and forcefulness. Edwards is amongst the top in deifying the highest levels of clever and prestigious dialect. In other words, Jonathon Edwards was a master at simply portraying the power of words.

Harshad Mehta Scam

Harshad Mehta scam: Harshad Mehta  was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him.He died in 2002 with many litigations still pending against him. 3. 1 Ready Forward Deal (RF): †¢ The crucial mechanism through which the scam was effected was the Ready Forward deal. †¢ The Ready Forward Deal (RF) is in essence a secured short term (typically 15 day) loan from one bank to another bank. The lending is done against Government Securities exactly the way a pawnbroker lends against jewelry. †¢ In fact one can say that the borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan at (typically) a slightly higher price. It was this RF deal that Harshad Mehta and his associates used with great success to channel money from banking system. 3. 2 The Mechanics of the Scam: As explained above, a ready forward deal is, in substance, a secured loan from one bank to another.To make the scam possible , the RF had to undergo a complete change. In other words it practically had to become an unsecured loan to broker. This was wonderfully engineered by the brokers. To give a better understanding of the mechanism, the whole process has been segregated into 3 different parts. . The settlement process 2. Payment cheques 3. Dispensing the security 1. The settlement Process: ? The normal settlement process in government securities is that the transacting banks make payments and deliver the securities directly to each other. ? Dur ing the scam, however, the banks or at least some banks adopted an alternative settlement process which was similar to the process used for settling transactions in the stock market. ? In this settlement process, deliveries of securities and payments are made through the broker.That is, the seller hands over the securities to the broker who passes them on to the buyer, while the buyer gives the cheque to the broker who then makes the payment to the seller. ? In this settlement process, the buyer and the seller may not even know whom they have traded with, both being known only to the broker. ? There were two important reasons why the broker intermediated settlement began to be used in the government securities markets. ? The brokers instead of merely bringing buyers and sellers together started taking positions in the market.In other words, they started trading on their own account, and in a sense became market makers in some securities thereby imparting greater liquidity to the mar kets. ? When a bank wanted to conceal the fact that it was doing an RF deal, the broker came in handy. The broker provided contract notes for this purpose with fictitious counter parties, but arranged for the actual settlement to take place with the correct counter party. 2. Payment Cheques: ? A broker intermediated settlement allowed the broker to lay his hands on the cheque as it went from one bank to another through him.The hurdle now was to find a way of crediting the cheque to his account though it was drawn in favor of a bank and was crossed account payee. ? As it happens, it is purely a matter of banking custom that an account payee cheque is paid only to the payee mentioned on the cheque. In fact, exceptions were being made to this norm, well before the scam came to light. ? Privileged (corporate) customers were routinely allowed to credit account payee cheques in favour of a bank into their own accounts to avoid clearing delays, thereby reducing the interest lost on the amo unt. Normally, if a customer obtains a cheque in his own favour and deposits it into his own account, it may take a day or two for the cheque to be cleared and for the funds to become available to the customer. At 15% interest, the interest loss on a clearing delay of two days for a Rs. 100 crores cheque is about Rs. 8 lakhs. ? On the other hand, when banks make payments to each other by writing cheques on their account with the RBI, these cheques are cleared on the same day. ? The practice which thus emerged was that a customer would obtain a cheque drawn on the RBI favoring not himself but his bank.The bank would get the money and credit his account the same day. ? This was the practice which the brokers in the money market exploited to their benefit. 3. Dispensing the security: ? The brokers thus found a way of getting hold of the cheques as they went from one bank to another and crediting the amounts to their accounts. This effectively transformed an RF into a loan to a broker r ather than to a bank. ? But this, by itself, would not have led to the scam because the RF after all is a secured loan, and a secured loan to a broker is still secured. What was necessary now was to find a way of eliminating the security itself! There are three routes adopted for this purpose: 1. Some banks (or rather their officials) were persuaded to part with cheques without actually receiving securities in return. A simple explanation of this is that the officials concerned were bribed and/or negligent. A more intriguing possibility is that the banks' senior/top management were aware of this and turned a Nelson's eye to it to benefit from higher returns the brokers could offer by diverting the funds to the stock market. One must recognize that as long as the scam lasted, the banks benefited from such an arrangement.The management of banks might have been sorely tempted to adopt this route to higher profitability. 2. The second route was to replace the actual securities by a wort hless piece of paper – a fake Bank Receipt (BR). This is discussed in greater detail in the next section. 3. The third method was simply to forge the securities themselves. In many cases, PSU bonds were represented only by allotment letters rather than certificates on security paper. And it is easier to forge an allotment letter for Rs. 100 crores worth of securities than it is to forge a 100 rupee note!Outright forgery of this kind however accounted for only a very small part of the total funds misappropriated 3. Bank Receipt: ? In an RF deal, as we have discussed it so far, the borrowing bank delivers the actual securities to the lender and takes them back on repayment of the loan. In practice, however, this is not usually done. Instead, the borrower gives a Bank Receipt (BR) which serves three functions: ? The BR confirms the sale of securities. ? It acts as a receipt for the money received by the selling bank. Hence the name – bank receipt. ? It promises to deliver the securities to the buyer.It also states that in the meantime the seller holds the securities in trust for the buyer. ? In short, a BR is something like an IOU (I owe you securities! ), and the use of the BR de facto converts an RF deal into an unsecured loan. The lending bank no longer has the securities; it has only the borrower's assurance that the borrower has the securities which can/will be delivered if/when the need arises. BRs issued without Backing of Securities: ? As stated earlier, a BR is supposed to imply that the issuer actually has the securities and holds them in trust for the buyer.But in reality the issuer may not have the securities at all. ? There are two reasons why a bank may issue a BR, which is not backed by actual securities: 1. A bank may short sell securities, that is, it sells securities it does not have. This would be done if the bank thinks that the prices of these securities would decrease. Since this would be an outright sale (not an RF! ), the ban k issues a BR. When the securities do fall in value, the bank buys them at lower prices and discharges the BR by delivering the securities sold. Short selling in some form is an integral part of most bond markets in the world.It can be argued that some amount of shortselling subject to some degree of regulation is a desirable feature of a bond market. In our opinion, an outright sale using a BR, which is not backed by securities, is not harmful per se though it violates the RBI guidelines. 2. The second reason is that the bank may simply want an unsecured loan. It may then do an RF deal issuing a â€Å"fake† BR which is a BR without any securities to back them. The lending bank would be under a mistaken impression that it is making a secured loan when it is actually advancing an unsecured loan.Obviously, lenders should have taken measures to protect themselves from such a possibility During the scam, the brokers perfected the art of using fake BRs to obtain unsecured loans fr om the banking system. They persuaded some small and little known banks – the Bank of Karad (BOK) and the Metropolitan Cooperative Bank (MCB) – to issue BRs as and when required. These BRs could then be used to do RF deals with other banks. The cheques in favour of BOK were, of course, credited into the brokers' accounts. In effect, several arge banks made huge unsecured loans to the BOK/MCB which in turn made the money available to the brokers. 4. Breakdown of the Control system in scam: ? The scam was made possible by a complete breakdown of the control system both within the commercial banks as well as the control system of the RBI itself. ? We shall examine these control systems to understand how these failed to function effectively and what lessons can be learnt to prevent failure of control systems in the future. ? The internal control system of the commercial banks involves the following features: 1. Separation of Functions:The different aspects of securities tr ansactions of a bank, namely dealing, custody and accounting are carried out by different persons. 2. Counterparty Limits: The moment an RF deal is done on the basis of a BR rather than actual securities, the lending bank has to contend with the possibility that the BR received may not be backed by any/adequate securities. In effect, therefore, it may be making an unsecured loan, and it must do the RF only if it is prepared to make an unsecured loan. This requires assessing the creditworthiness of the borrower and assigning him a â€Å"credit limit† up to which the bank is prepared to lend.Technically, this is known as a counterparty limit. 5. Other Aspects of the scam: ? There are several aspects of the scam which are closely related to the securities markets, but which are different from the operational aspect of the markets. ? These pertain to information that can cause significant changes in the prices of securities as well as the information supplied by the commercial ba nks on their financial performance. ? On each occasion the coupon rate was increased by 1/2%, thereby raising the coupon rate from 11. 5% to 13% during this ten month period.The major implication of raising interest rate on new borrowings is that it would trigger a fall in the market prices of the old loans which are pegged at the old (lower) interest rates. The price of the 11. 5% Government Loan 2010 dropped by 3% to 5% with each coupon rate hike. If anyone has advance information about these changes in the coupon rates, he could make enormous amounts of riskless profit by short selling the old securities just before the announcement of rate hike and buying back (covering his position) after the prices have fallen. ? Somebody who took a short position of Rs. 00 crores before the coupon hike of September 1991 could have made a profit of Rs. 15 crores, practically overnight! Since several persons in the Finance Ministry and the RBI are likely to be aware of the impending hike in the coupon rate, the chance of leakage of this all important information is always there. ? There have been several allegations in this regard. However, it will probably be very difficult to prove with any degree of certainty that there was insider trading based on information about coupon rate changes, because of the size of the market. With a daily trading volume of Rs. 3000 – 4000 crores, it would have been very easy for anyone to take a position (based on inside information) of Rs. 500 or even Rs. 1000 crores without anyone suspecting anything untoward. 6. Impact of the scam: ? The immediate impact of the scam was a sharp fall in the share prices. The index fell from 4500 to 2500 representing a loss of Rs. 100,000 crores in market capitalization. [pic] ? Since the accused were active brokers in the stock markets, the number of shares which had passed through their hands in the last one year was colossal.All these shares became â€Å"tainted† shares, and overnight they became worthless pieces of paper as they could not be delivered in the market. Genuine investors who had bought these shares well before the scam came to light and even got them registered in their names found themselves being robbed by the government. This resulted in a chaotic situation in the market since no one was certain as to which shares were tainted and which were not. ? The government's liberalization policies came under severe criticism after the scam, with Harshad Mehta and others being described as the products of these policies. Bowing to the political pressures and the bad press it received during the scam, the liberalization policies were put on hold for a while by the government. The Securities Exchange Board of India (SEBI) postponed sanctioning of private sector mutual funds. ? The much talked about entry of foreign pension funds and mutual funds became more remote than ever. The Euro-issues planned by several Indian companies were delayed since the ability of In dian companies to raise equity capital in world markets was severely compromised. Harshad Mehta Scam Harshad Mehta scam: Harshad Mehta  was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him.He died in 2002 with many litigations still pending against him. 3. 1 Ready Forward Deal (RF): †¢ The crucial mechanism through which the scam was effected was the Ready Forward deal. †¢ The Ready Forward Deal (RF) is in essence a secured short term (typically 15 day) loan from one bank to another bank. The lending is done against Government Securities exactly the way a pawnbroker lends against jewelry. †¢ In fact one can say that the borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan at (typically) a slightly higher price. It was this RF deal that Harshad Mehta and his associates used with great success to channel money from banking system. 3. 2 The Mechanics of the Scam: As explained above, a ready forward deal is, in substance, a secured loan from one bank to another.To make the scam possible , the RF had to undergo a complete change. In other words it practically had to become an unsecured loan to broker. This was wonderfully engineered by the brokers. To give a better understanding of the mechanism, the whole process has been segregated into 3 different parts. . The settlement process 2. Payment cheques 3. Dispensing the security 1. The settlement Process: ? The normal settlement process in government securities is that the transacting banks make payments and deliver the securities directly to each other. ? Dur ing the scam, however, the banks or at least some banks adopted an alternative settlement process which was similar to the process used for settling transactions in the stock market. ? In this settlement process, deliveries of securities and payments are made through the broker.That is, the seller hands over the securities to the broker who passes them on to the buyer, while the buyer gives the cheque to the broker who then makes the payment to the seller. ? In this settlement process, the buyer and the seller may not even know whom they have traded with, both being known only to the broker. ? There were two important reasons why the broker intermediated settlement began to be used in the government securities markets. ? The brokers instead of merely bringing buyers and sellers together started taking positions in the market.In other words, they started trading on their own account, and in a sense became market makers in some securities thereby imparting greater liquidity to the mar kets. ? When a bank wanted to conceal the fact that it was doing an RF deal, the broker came in handy. The broker provided contract notes for this purpose with fictitious counter parties, but arranged for the actual settlement to take place with the correct counter party. 2. Payment Cheques: ? A broker intermediated settlement allowed the broker to lay his hands on the cheque as it went from one bank to another through him.The hurdle now was to find a way of crediting the cheque to his account though it was drawn in favor of a bank and was crossed account payee. ? As it happens, it is purely a matter of banking custom that an account payee cheque is paid only to the payee mentioned on the cheque. In fact, exceptions were being made to this norm, well before the scam came to light. ? Privileged (corporate) customers were routinely allowed to credit account payee cheques in favour of a bank into their own accounts to avoid clearing delays, thereby reducing the interest lost on the amo unt. Normally, if a customer obtains a cheque in his own favour and deposits it into his own account, it may take a day or two for the cheque to be cleared and for the funds to become available to the customer. At 15% interest, the interest loss on a clearing delay of two days for a Rs. 100 crores cheque is about Rs. 8 lakhs. ? On the other hand, when banks make payments to each other by writing cheques on their account with the RBI, these cheques are cleared on the same day. ? The practice which thus emerged was that a customer would obtain a cheque drawn on the RBI favoring not himself but his bank.The bank would get the money and credit his account the same day. ? This was the practice which the brokers in the money market exploited to their benefit. 3. Dispensing the security: ? The brokers thus found a way of getting hold of the cheques as they went from one bank to another and crediting the amounts to their accounts. This effectively transformed an RF into a loan to a broker r ather than to a bank. ? But this, by itself, would not have led to the scam because the RF after all is a secured loan, and a secured loan to a broker is still secured. What was necessary now was to find a way of eliminating the security itself! There are three routes adopted for this purpose: 1. Some banks (or rather their officials) were persuaded to part with cheques without actually receiving securities in return. A simple explanation of this is that the officials concerned were bribed and/or negligent. A more intriguing possibility is that the banks' senior/top management were aware of this and turned a Nelson's eye to it to benefit from higher returns the brokers could offer by diverting the funds to the stock market. One must recognize that as long as the scam lasted, the banks benefited from such an arrangement.The management of banks might have been sorely tempted to adopt this route to higher profitability. 2. The second route was to replace the actual securities by a wort hless piece of paper – a fake Bank Receipt (BR). This is discussed in greater detail in the next section. 3. The third method was simply to forge the securities themselves. In many cases, PSU bonds were represented only by allotment letters rather than certificates on security paper. And it is easier to forge an allotment letter for Rs. 100 crores worth of securities than it is to forge a 100 rupee note!Outright forgery of this kind however accounted for only a very small part of the total funds misappropriated 3. Bank Receipt: ? In an RF deal, as we have discussed it so far, the borrowing bank delivers the actual securities to the lender and takes them back on repayment of the loan. In practice, however, this is not usually done. Instead, the borrower gives a Bank Receipt (BR) which serves three functions: ? The BR confirms the sale of securities. ? It acts as a receipt for the money received by the selling bank. Hence the name – bank receipt. ? It promises to deliver the securities to the buyer.It also states that in the meantime the seller holds the securities in trust for the buyer. ? In short, a BR is something like an IOU (I owe you securities! ), and the use of the BR de facto converts an RF deal into an unsecured loan. The lending bank no longer has the securities; it has only the borrower's assurance that the borrower has the securities which can/will be delivered if/when the need arises. BRs issued without Backing of Securities: ? As stated earlier, a BR is supposed to imply that the issuer actually has the securities and holds them in trust for the buyer.But in reality the issuer may not have the securities at all. ? There are two reasons why a bank may issue a BR, which is not backed by actual securities: 1. A bank may short sell securities, that is, it sells securities it does not have. This would be done if the bank thinks that the prices of these securities would decrease. Since this would be an outright sale (not an RF! ), the ban k issues a BR. When the securities do fall in value, the bank buys them at lower prices and discharges the BR by delivering the securities sold. Short selling in some form is an integral part of most bond markets in the world.It can be argued that some amount of shortselling subject to some degree of regulation is a desirable feature of a bond market. In our opinion, an outright sale using a BR, which is not backed by securities, is not harmful per se though it violates the RBI guidelines. 2. The second reason is that the bank may simply want an unsecured loan. It may then do an RF deal issuing a â€Å"fake† BR which is a BR without any securities to back them. The lending bank would be under a mistaken impression that it is making a secured loan when it is actually advancing an unsecured loan.Obviously, lenders should have taken measures to protect themselves from such a possibility During the scam, the brokers perfected the art of using fake BRs to obtain unsecured loans fr om the banking system. They persuaded some small and little known banks – the Bank of Karad (BOK) and the Metropolitan Cooperative Bank (MCB) – to issue BRs as and when required. These BRs could then be used to do RF deals with other banks. The cheques in favour of BOK were, of course, credited into the brokers' accounts. In effect, several arge banks made huge unsecured loans to the BOK/MCB which in turn made the money available to the brokers. 4. Breakdown of the Control system in scam: ? The scam was made possible by a complete breakdown of the control system both within the commercial banks as well as the control system of the RBI itself. ? We shall examine these control systems to understand how these failed to function effectively and what lessons can be learnt to prevent failure of control systems in the future. ? The internal control system of the commercial banks involves the following features: 1. Separation of Functions:The different aspects of securities tr ansactions of a bank, namely dealing, custody and accounting are carried out by different persons. 2. Counterparty Limits: The moment an RF deal is done on the basis of a BR rather than actual securities, the lending bank has to contend with the possibility that the BR received may not be backed by any/adequate securities. In effect, therefore, it may be making an unsecured loan, and it must do the RF only if it is prepared to make an unsecured loan. This requires assessing the creditworthiness of the borrower and assigning him a â€Å"credit limit† up to which the bank is prepared to lend.Technically, this is known as a counterparty limit. 5. Other Aspects of the scam: ? There are several aspects of the scam which are closely related to the securities markets, but which are different from the operational aspect of the markets. ? These pertain to information that can cause significant changes in the prices of securities as well as the information supplied by the commercial ba nks on their financial performance. ? On each occasion the coupon rate was increased by 1/2%, thereby raising the coupon rate from 11. 5% to 13% during this ten month period.The major implication of raising interest rate on new borrowings is that it would trigger a fall in the market prices of the old loans which are pegged at the old (lower) interest rates. The price of the 11. 5% Government Loan 2010 dropped by 3% to 5% with each coupon rate hike. If anyone has advance information about these changes in the coupon rates, he could make enormous amounts of riskless profit by short selling the old securities just before the announcement of rate hike and buying back (covering his position) after the prices have fallen. ? Somebody who took a short position of Rs. 00 crores before the coupon hike of September 1991 could have made a profit of Rs. 15 crores, practically overnight! Since several persons in the Finance Ministry and the RBI are likely to be aware of the impending hike in the coupon rate, the chance of leakage of this all important information is always there. ? There have been several allegations in this regard. However, it will probably be very difficult to prove with any degree of certainty that there was insider trading based on information about coupon rate changes, because of the size of the market. With a daily trading volume of Rs. 3000 – 4000 crores, it would have been very easy for anyone to take a position (based on inside information) of Rs. 500 or even Rs. 1000 crores without anyone suspecting anything untoward. 6. Impact of the scam: ? The immediate impact of the scam was a sharp fall in the share prices. The index fell from 4500 to 2500 representing a loss of Rs. 100,000 crores in market capitalization. [pic] ? Since the accused were active brokers in the stock markets, the number of shares which had passed through their hands in the last one year was colossal.All these shares became â€Å"tainted† shares, and overnight they became worthless pieces of paper as they could not be delivered in the market. Genuine investors who had bought these shares well before the scam came to light and even got them registered in their names found themselves being robbed by the government. This resulted in a chaotic situation in the market since no one was certain as to which shares were tainted and which were not. ? The government's liberalization policies came under severe criticism after the scam, with Harshad Mehta and others being described as the products of these policies. Bowing to the political pressures and the bad press it received during the scam, the liberalization policies were put on hold for a while by the government. The Securities Exchange Board of India (SEBI) postponed sanctioning of private sector mutual funds. ? The much talked about entry of foreign pension funds and mutual funds became more remote than ever. The Euro-issues planned by several Indian companies were delayed since the ability of In dian companies to raise equity capital in world markets was severely compromised.

What Defines Us as Americans - 894 Words

Anthony Smith Mrs. Williams U.S History March 16, 2012 What Defines Us as Americans Over the years there have been many events that have taken place. These events not only affected the people and the world of the present at that time, but also the future and even the way things are today. Knowing this we must ask ourselves what defines us as Americans? There are series of events that all together add up to define us as Americans such as, the Constitution, Westward Expansion, and the Civil War and Reconstruction. What do you think defines us as Americans? The Constitution states â€Å"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common†¦show more content†¦When the U.S admitted Texas to the union the Mexican War was started and upon victory the U.S gained control of Texas, New Mexico, California and the entire western land to the Pacific Ocean after Oregon land was annexed. By the early twentieth century, the organization of the We st was completed, and the United States consisted of all 48 contiguous states. This was a major part of defining us as Americans by setting the tone for our 50 states we are allowed to visit and/or liveShow MoreRelatedMyths and Stereotypes909 Words   |  4 Pagesstories all over the news today and automatically assume that an African American, probably male, committed the crime. These crime stories, might indeed, involve African American males, but not all crimes are committed by African Americans. A few myths are to blame for this certain stereotyping. One myth is that most crimes are committed by African Americans. Another myth would be that African Americans are preying on White Americans in our country. There could be some truth to these myths but most likelyRead MoreDemocracy in America647 Words   |  3 Pagesnot. Democracy has meaning, and multiple values. Democracy a certain type of system a government uses to abide by. This government’s values are meant to please the American citizens, and their needs. Democracy looks different to the types of citizens that make up the American society. The multiple values that make up democracy define the country in this time period. Democracy is a type of government used in different countries, including America. A Democracy is a system of government by the populationsRead MoreAnalysis Of Kenny Chesney s Song American Kids1532 Words   |  7 Pagesidentity of many Americans is also developed by their actions. Some groups develop an identity by speaking their native language, like some members of â€Å"Chinatown† in various American cities. Others develop their identities by the way they dress, music they listen to, and their sexual identity. We can clearly see some of the largest factors used to develop one’s identity is the area in which they live in and their actions throughout their day to day life. In Kenny Chesney’s song American Kids we see theRead MoreWho I Am Essay1144 Words   |  5 PagesI am, because I was born to immigrants of Nigerian descent, and I am a first generation American, that term is sometimes used so loosely. By looking at my name they assume that I am from some is land, but I am so quick to tell them that â€Å"I am Nigerian†, there is another statement that normally follows this. â€Å"You do not have an accent†. I wonder if I had an accent would I be considered Nigerian and not American; then I say that â€Å"My parents are Nigerian† and then that changes, so to them I am just associatedRead MoreMy Experience At College Is The Way People Greet Each Other Around The World1285 Words   |  6 Pageshomes define who we are but we also define our homes. I still remember a year ago, in the cold winter day when I first came to America; I and my sister looked so tiny in thick, coarse sweaters. In the middle of the large airport with thousands of people around us, I felt so different. As a young girl who grew up in a small town in Vietnam, I had never seen so many people with different nationalities like in this airport. The languages they used, their appearances were so different from what I imaginedRead MoreSummary Of The Seals Call On An Arab Stereotype945 Words   |  4 Pagestheir superior calls him, â€Å"the crown prince of Al-Qaeda in Iraq.† The SEALs call on an Arab stereotype to define Zarqawi’s position and the representation of the Butcher is even more sinister. He is Al-Zarqawi’s henchman who does the dirty work to keep the Iraqi citizens in line. This includes using a drill to murder or maim people. This sets up a dichotomy between the Butcher, a cowardly evil man who uses barbaric methods to harm hi s enemies, against Chris Kyle, whose sniper is a quick clean killRead MoreDeception Theory Essay1272 Words   |  6 PagesErica Simonetti Reading Objectives August 24, 2011 Chapter 1: * What is the definition of communication embraced by the authors of this text?   * The authors define communication as â€Å"a social process in which individuals employ symbols to establish and interpret meaning in their environment.† * From their perspective, they use five key terms that coincide with defining communication: social, process, symbols, meaning, and environment. * Communication involvesRead MoreEssay about Living or Dying with the American Dream1274 Words   |  6 Pagesobtaining their dreams. We see the American Dream through the eyes of many different characters, giving us perspective of our own priorities and goals. Once we see the American dream from all of these angles we have to decide how we will interpret it, and how we will react. Willy Loman is the main person we see seeking this dream. He spends his whole life trying to be successful. Willy makes many mistakes, but the first one is in how he defines the American Dream. He has this concept of a childishRead MoreImmigrants and the American Dream Essay1631 Words   |  7 Pagesall had a dream, that dream was the American Dream. In the present day the desire to achieve the dream hasnt changed. However, the idea of the American Dream, brings up a lot of questions. What is the American Dream? Who defines it? Can it be achieved? Lastly, should everyone have a chance to achieve it? What is the American Dream? When this question was asked on the first day of class, there were many different answers as to what makes up the American Dream. Some people said having a goodRead MoreThirteen American Arguements1084 Words   |  5 PagesThe Thirteen American Arguments 4th period – Bookmeyer Kelsey Larsen August 29th, 2013 The Thirteen American Arguments is a book designed to explain and explore the idea of argument all throughout the world. How the government is ran, and how every past argument this country has had has been a similar one to the one presented beforehand. This process is a never ending argument and debate. The freedom of debate keeps us inspired and free; that this shows strength and not weakness. Not only