mafia violence essays

mafia violence essays 1. From developing the family tree of the three generations I learned a lot about them. My parents were the source of this information about the three generations. I didnt really know much about them. Based on my gathered information from my parents I think that my information is accurate. The reason why I didnt ask my other relatives is because they live abroad and also because I dont get along with some of my relatives. I was really satisfied with the results that I got from my parents. 2. From my dads side I found out that my grandfather had high blood pressure that resulted in sudden heart attack. I also found out that my grandmother was diagnosed with high blood pressure, Diabetes, and also Breast Cancer. From my moms side her dad had high blood pressure and also Gout. My moms mom also has diabetes and high blood pressure. From looking at all these illnesses I see high blood pressure in my 3. The health condition that most likely to show up in the family is due to air pollution. Its because the environment where my family used to live in. India is a really populated and also polluted country where it is a great risk to the population to inherit the polluted gases which causes air pollution. So asthma is one of the main illness in my 4. I know that high blood pressure is the main illness in my family. The specific health change that I want to make in my family is the blood pressure. I will do it by cutting down on salt and fatty foods like Ghee. I want my family to cut down on the consumption of high cholesterol foods. 5. This assignment made me learn more about my family background and the health risks that evolve around my family. I also learned a lot about how I can make changes in my family because my family has a history of high blood pressure and diabetes. ...

William Rehnquist, Supreme Court Chief Justice

William Rehnquist, Supreme Court Chief Justice President Richard M. Nixon appointed William Rehnquist to the U.S. Supreme Court in 1971. Fifteen years later President Ronald Reagan named him as the court’s Chief Justice, a position that he held until his death in 2005. During the last eleven years of his term on the Court, there was not a single change in the roster of nine justices. Early Life and Career Born in Milwaukee, Wisconsin on October 1, 1924, his parents named him William Donald. He would later change his middle name to Hubbs, a family name after a numerologist informed Rehnquist’s mother that he would be more successful with the middle initial of H.   Rehnquist attended Kenyon College in Gambier, Ohio for one quarter before joining the U.S. Air Force during World War II. Although he served from 1943 to 1946, Rehnquist did not see any combat. He was assigned to a meteorology program and was stationed for a time in North Africa as a weather observer. After being discharged from the Air Force, Rehnquist attended Stanford University where he received both a bachelors and a masters degree in political science. Rehnquist then went to Harvard University where he received a masters in government before attending Stanford Law School where he graduated first in his class in 1952 while Sandra Day OConnor graduated third in that same class. Upon graduation from law school, Rehnquist spent a year working for U.S. Supreme Court Justice Robert H. Jackson as one of his law clerks.   As a law clerk, Rehnquist authored a very controversial memo defending the Court’s decision in Plessy v. Ferguson. Plessy was opinion as a landmark case that was decided in 1896 and upheld the constitutionality of laws passed by states that required racial segregation in public facilities under the separate but equal doctrine. This memo advised Justice Jackson to uphold Plessy in deciding Brown v. Board of Education in which a unanimous court ended up overturning Plessy.   From Private Practice to the Supreme Court Rehnquist spent 1953 to 1968 working in private practice in Phoenix before returning to Washington, D.C. in 1968 where he worked as an assistant attorney general for the Office of Legal Counsel until President Nixon appointed him as an associate Supreme Court justice. While Nixon was impressed with Rehnquist’ support for debatable procedures such as pretrial detention and wiretapping, but civil rights leaders, as well as some Senators, were not impressed due to the Plessy memo that Rehnquist had written some nineteen years earlier. During confirmation hearings, Rehnquist was grilled about the memo to which he responded that the memo accurately reflected Justice Jacksons views at the time it was written and was not pensive of his own views. Although some believed him to be a right-wing fanatic, Rehnquist was easily confirmed by the Senate. Rehnquist quickly showed the conservative nature of his views when joined Justice Byron White as being the only two who dissented from the 1973 Roe v. Wade decision. In addition, Rehnquist also voted against school desegregation. He voted in favor of school prayer, capital punishment, and states rights. Upon Chief Justice Warren Burger retirement in 1986, the Senate confirmed his appointment to replace Burger by a 65 to 33 vote. President Reagan nominated Antonin Scalia to fill vacant associate justice seat. By 1989, President Reagan’s appointments had created a new right majority which allowed the Rehnquist-led Court to release a number of conservative rulings on issues like capital punishment, affirmative action, and abortion. Also, Rehnquist led wrote the 1995 opinion in the United States v. Lopez case, in which 5 to 4 majority struck down as unconstitutional a federal act which made it illegal to carry a gun in a school zone. Rehnquist served as the presiding judge in President Bill Clinton’s impeachment trial. Further, Rehnquist supported the Supreme Court decision, Bush v. Gore, which ended attempts to recount Florida votes in the 2000 presidential election.  On the other hand, although the Rehnquist Court had the opportunity, it declined to overrule the libera l decisions of Roe v. Wade and Miranda v. Arizona.

The treatment of vertical agreements in EC competition law has changed Essay - 1

The treatment of vertical agreements in EC competition law has changed significantly during the last ten years - Essay Example n years, it is necessary to explain of Article 81 EC, the requirements for the exemption under Article 81(3) and under Commission Regulation 2790/99 on vertical restraints and considering old regulations and relevant case law1. Article 81 regulates anti-competitive behaviour in a wide range of scenarios and has been applied with reference to what the EU is trying to achieve: a level playing field2 for competition within an internal market. The aim of achieving market integration between the Member States is apparent in many rulings of the Commission and European courts. Article 81(1) provides that â€Å"all agreements between undertakings, decisions by associations of undertakings and concerted practices and which may affect trade between Member States and which have as their object or effect the prevention, restriction or distortion of competition within the common market shall be prohibited. In Article 81(3) the conditions for exemption from Article 81(1) are laid down. The way in which the ECJ has interpreted these concepts and requirements will be examined in the following subsection. According to the (C-41/90 Hofner and Elser3), the meaning of undertakings is ‘The concept of undertaking encompasses every entity engaged in an economic activity regardless of the legal status of the entity and the way in which it is financed’. This means that any entity carrying on a commercial or economic activity (company, partnership, sole trader, co-operative) is subject to the competition rules, including individual professionals, non-profit- making services, public utilities, and even public authorities when they are acting commercially, but not when exercising their official authority [Case 30/87 Corinne Bodson v Pompes Funà ¨bres des Regions Libà ©rà ©es4]. Under Article 81, there is first a finding of infringement under Article 81(1). The weighing of the pro- and anti-competitive effects of an agreement only takes place under Article 81(3) which allows exemption for

Research-Technology in Action Paper Research Example | Topics and Well Written Essays - 3000 words

-Technology in Action - Research Paper Example This concept has made the ever prevalent barriers created by the national and international boundaries become of a relatively smaller relevance and made the world appear like a global village (Beenhakker, 2001). It is driven mostly by the financial flows and trade, information technology, mass media and entertainment. Human factors including cultural exchanges, international tourism and migration have also contributed to globalization to a significant extent. This process with the integration with both communication and information technology has made people co-exist very closely together and has changed people’s lives in regard to how they think and in the other aspects of their lives. As a concept, globalization was thought to have begun after World War II, and has been speeded over the years. It has had many impacts, both positively and negatively, on lives of people, the environment, national governments, cultures and economic development in countries all over the world. Considering the role of information technology in globalization issues, it can be considered as a driving force within the current global economy. The internet and the computer-based technologies have made a vital impact in the area of communication and information technologies. Easy access to such technologies has also increased internet usages and made internet information to spread more. The World Wide Web, www, in particular being a collection of varied documents accessible over the internet, is responsible for easy and reliable access of information by people across the globe (Beenhakker, 2001). The internet too has enabled both people and countries to contact each other constantly, creating an instant connection between them. The communication advancement has been made possible through the use of such items as video calls, emails and chat programs. In addition to the internet and the cyberspace, there   has also been the existence of the global media networks that have

Social Identity Theory Essay Example for Free

Social Identity Theory Essay Summarise two theories of identity and compare their usefulness for explaining the real world issues discussed in chapter 1, Identities and diversity. The study of identity is primarily the study of who we are and who we are not in comparison to other people, what makes individuals and groups of individuals unique from each other is a very controversial issue. This essay will look at two theories that aim to address this issue, namely, the Psychosocial theory and the Social Identity Theory (SIT). Whilst examining these two theories this essay will also look at their relevance to some every day issues. The view of Psychosocial theorists is one that identity is produced simultaneously by both personal and social factors. Psychoanalyst Erik Erikson was the first theorist to view identity this way, for Erikson identity consisted of a conscious sense of individual uniqueness, an unconscious striving for continuity and a solidarity with a groups ideas (Erikson cited in Phoenix, 2007, p.53). He believed that a solid understanding of who we are, how we fit in to and are viewed by society forms a core identity, which in turn will create a sense of continuity. Erikson lived through two world wars during which many people feared for their lives. This heightened sense of mortality led to identity confusion. Hence Erikson believed that identity crisis was prevalent at this time. Identity crisis for Erikson was a certain period of time when some young people could not create a solid Ego Identity (a clear understanding of oneself) and were confused and unable to commit to a certain path, the form that this crisis took would be socially and historically variable. This lack of a solid Ego identity Erikson termed as role diffusion. Erikson believed that identity was an ongoing lifelong process through eight different progressive stages ranging from birth to late adulthood, each stage encapsulated many times of crisis and conflict which he saw as normative crisis and essential to the development of identity. Although he saw the period of adolescence as the most important stage, with the majority of adolescents achieving a solid Ego identity after a socially accepted period of trials, trying out various social roles in order to find their ideal path. It was abnormal to be normal during adolescence (Freud cited in Phoenix, 2007, p.56) Erikson calls this period a Psychosocial Moratorium. During this period of Psychosocial Moratorium Erikson viewed the solidarity of adolescents with groups and their ideas as important to identity, as young people struggle to find a niche in society they can often over identify with various groups. Within these groups the feelings against other groups ( outsiders ) can often become cruel or even violent if there is any threat to their sense of identity. This identity battle between groups is addressed by the Social Identity Theory (SIT) which was developed by Psychologist Henri Tajfel. Unlike the work of Erikson, Tajfel concentrated more on the social than individual process of identity development. He considered the development of individual and group identity as being separate processes. Tajfel was a Jewish holocaust survivor, his experiences with the Nazi regime was the driving force of his studies, he wanted to know what it was that led to prejudice between different groups. Tajfel mainly focused his studies on trying to identify the minimum requirements needed in order to form group identities, which he did by studying the intergroup relations between minimal groups. These minimal groups were a number of individuals with nothing really in common with each other, apart from the fact that they were categorized as being in the same group (ingroup), they also had no reason to oppose any individual or group outside their defined group (outgroup). Tajfel found that the simple fact of being categorized within a group was enough to cause prejudice against another group. It is the subjective feeling of belonging to a group which is important in SIT rather than membership as defined by outsiders or simply sharing some characteristics with other group members (Turner cited in Phoenix, 2007, p.63). The SIT theory suggests that the status of an individuals group identity can directly affect a persons individual identity, and that the need to belong to a high status group is paramount to a sense of high self esteem. Therefore groups are continuously striving to be dominant and superior, in doing so dominant groups will often inflict prejudice and discrimination against inferior groups as a means to increase their members self esteem. likewise individuals of inferior groups will strive to increase their self esteem by attempting to increase their status by means of social mobility ( move to a higher status group). Some groups will often try to affect social change in order to improve their social status by means of social creativity,(redefining their social status in a more positive way) or social competition, ( revolutions and civil wars). Both the Psychosocial and SIT theories of identity are relevant in different ways when considering real life issues, one of which being the embodied identities of people with physical disabilities. Embodiment is a factor in both theories, SIT considers embodiment (of physically impaired people) as a category for discrimination whilst the Psychosocial theory is concerned with the continuity of ones body to function as an issue of identity. People becoming physically impaired later in life will have a heightened sense of identity, this can be explained by both theories. Psychosocial theorists would see this as a break in the continuity which is central to this theory leading to an identity crisis, whilst in the context of SIT the change in social status by being categorised in a minority group would be the explanation. In summarising the theories of Erikson and Tajfel it can be clearly seen that both approached the complexity of identity in very different ways, both drawing from their own life experiences as a focus for their studies. Although they both draw different conclusions each theory has some relevance to the identity of physically impaired people, this reinforces the view that there is no single answer to the question of identity. References Phoenix, A. (2007) Identities and Diversities, in Miell, D. and Thomas, K. (eds) Mapping Psychology, Milton Keynes, The Open University. Part 2 The aim of the study is to research the importance of work for identity. The researchers propose to recruit participants by putting a poster in a job centre inviting unemployed people to volunteer to be interviewed about their employment history. People who express interest will be given a date and time for an interview and asked to sign a consent form. They will be offered a small payment (Â £5) for completing the interview. When they attend the interview, they will be told that the interview will be video-recorded and later transcribed (i.e. the questions and answers written down) for the researchers to analyse. They will be promised confidentiality. The ethics committee does not grant approval, for several reasons. One is that in the proposed study the researchers do not adequately obtain the informed consent of the participants, as required by the British Psychological Society. 1. Explain the problems with the proposed study concerning informed consent. (150 words) Informed consent was not adequately obtained as it was not clearly stated as to why the research was being done nor was it made clear as to how the interview would be structured (use of a video tape, questionnaire, etc) It was not made completely clear as to how the data will be used and for what purpose. There was also no explanation of the fact that after the interview had been transcribed, further consent would be needed before it could be used. 2. Explain three of the other ethical problems raised by the proposed study. (200 words) a. There was no mention of the participants right to withdraw at any time which should be done at the point of first contact. It should also be explained that if they did decide to withdraw during the interview that the payment they received would not be withdrawn. This was not made clear and the statement could easily be read as if there will be no payment unless the interview was completed. b. Participants should not be promised confidentiality as a number of people would probably see the data given in order to analyse it. Instead they should have been promised anonymity whereby not only their name will be removed but any clues to their identity too. If this is not possible then consent would be needed for disclosure. c. It should have been made clear that before signing a consent form participants would be given the choice as to what questions they wish to answer and given the option to refuse to answer any questions they were uncomfortable with. 3. Suggest a possible improvement to the study and explain the ethical problem(s) this would address. (150 words) The participants could have been informed that they can view the data collected at the end of the interview and that they have the opportunity then to withdraw any information they were unhappy or uncomfortable about making public. This would help to uphold the dignity of the participant, in case in hindsight they had revealed something about themselves that they wanted to keep private.

A Comparison of Charles Dickens and Jane Austen Essay -- English Liter

A Comparison of Charles Dickens and Jane Austen ADVANCED ENGLISH LANGUAGE ESSAY Of the many authors to emerge during the nineteenth-century, Charles Dickens and Jane Austen were among the few who would make a lasting impression on the literary world for generations. Hard Times, often referred to as Dickens’ ‘Industrial novel’ and Austen’s Pride and Prejudice have been much read and well-loved classics for many years. It is the purpose of this essay to compare and contrast the different worlds depicted in both Hard Times and Pride and Prejudice. It will also look at the literary development between the early and late nineteenth-century. The essay will end with the examination of the stylistic characteristics of each author. In the world depicted in Hard Times, workers are treated as little more than interchangeable parts in the factory's machinery, given just enough wages to keep them alive and just enough rest to make it possible for them to stand in front of their machines the next day. The town in which the story is set is called Coketown, taking its name from the ‘Coke’, or treated coal, powering the factories and blackening the town's skies. It is a large fictional industrial community in the north of England during the mid-nineteenth century. In Chapter 5 of the novel, Dickens describes the town as having buildings and streets that looked the same with red brick but were forever masked with smoke. The reader is told that the town looked like the ‘painted face of a savage’ and ‘serpents of smoke’ trailed out of its factories. It is easy to imagine the sunshine struggling to break through the thick smoke. The lives of the workers were monotonous and hard as they lived in ‘a town so sacred to ... ...ast, Miss Austen’s very finely written novel of Pride and Prejudice. That young lady had a talent for describing the involvements and feelings and characters of ordinary life, which is to me the most wonderful I ever met with.’ (Watt, 1963). BIBLIOGRAPHY Allen, W. (1954) The English Novel, Dutton, New York Allen, W. (1960) The English Novel, Pelican, London Bygrave, S. ed. (1996) Approaching Literature: Romantic Writings, The Open University Gray, M. and Gray, L. (2001) York Notes Advanced: Pride and Prejudice, Jane Austen, York Press, London Page, N. (1985) Macmillan Master Guides: Hard Times by Charles Dickens, Macmillan Education Ltd, London ("Romanticism (literature)," Microsoft ® Encarta ® 98 Encyclopedia.  © 1993-1997 Microsoft Corporation.) Watt, I. Ed. (1963) Jane Austen: A Collection of Critical Essays, Prentice-Hall Inc, USA A Comparison of Charles Dickens and Jane Austen Essay -- English Liter A Comparison of Charles Dickens and Jane Austen ADVANCED ENGLISH LANGUAGE ESSAY Of the many authors to emerge during the nineteenth-century, Charles Dickens and Jane Austen were among the few who would make a lasting impression on the literary world for generations. Hard Times, often referred to as Dickens’ ‘Industrial novel’ and Austen’s Pride and Prejudice have been much read and well-loved classics for many years. It is the purpose of this essay to compare and contrast the different worlds depicted in both Hard Times and Pride and Prejudice. It will also look at the literary development between the early and late nineteenth-century. The essay will end with the examination of the stylistic characteristics of each author. In the world depicted in Hard Times, workers are treated as little more than interchangeable parts in the factory's machinery, given just enough wages to keep them alive and just enough rest to make it possible for them to stand in front of their machines the next day. The town in which the story is set is called Coketown, taking its name from the ‘Coke’, or treated coal, powering the factories and blackening the town's skies. It is a large fictional industrial community in the north of England during the mid-nineteenth century. In Chapter 5 of the novel, Dickens describes the town as having buildings and streets that looked the same with red brick but were forever masked with smoke. The reader is told that the town looked like the ‘painted face of a savage’ and ‘serpents of smoke’ trailed out of its factories. It is easy to imagine the sunshine struggling to break through the thick smoke. The lives of the workers were monotonous and hard as they lived in ‘a town so sacred to ... ...ast, Miss Austen’s very finely written novel of Pride and Prejudice. That young lady had a talent for describing the involvements and feelings and characters of ordinary life, which is to me the most wonderful I ever met with.’ (Watt, 1963). BIBLIOGRAPHY Allen, W. (1954) The English Novel, Dutton, New York Allen, W. (1960) The English Novel, Pelican, London Bygrave, S. ed. (1996) Approaching Literature: Romantic Writings, The Open University Gray, M. and Gray, L. (2001) York Notes Advanced: Pride and Prejudice, Jane Austen, York Press, London Page, N. (1985) Macmillan Master Guides: Hard Times by Charles Dickens, Macmillan Education Ltd, London ("Romanticism (literature)," Microsoft ® Encarta ® 98 Encyclopedia.  © 1993-1997 Microsoft Corporation.) Watt, I. Ed. (1963) Jane Austen: A Collection of Critical Essays, Prentice-Hall Inc, USA

Heat of the Day By Elizabeth Bowen Essay

â€Å"Heat of the Day† by Elizabeth Bowen is the reflection of the complexities in the relationships across the generations, in love and war, set at the backdrop of 1942 World War. The story is about a life of Londoners and the traumatic experience they had to undergo when the city was being bombarded during war. â€Å"The Heat of the Day† sees the city being shattered and in this scenario of devastation, how the people try to make the sense of their lives? â€Å"The Heat of the Day† follows with same intensity the flow of the wartime stories written by Bowen in 1945. The story is though about warfare yet there is very little description about the war and that only one instance of the air raid, which happens close to the end of novel. The description of impressions of war and the London has been explicitly referred through the voice of characters with the reality transformed through visionary approach of the city. As described by Neil Corcoran, â€Å"The ‘Heat of the Day’ is a novel in which the panic of possibly losing identity, and of others deceiving you about their identities, operates not only as an agency of plot but as the very texture of style.† (Corcoran, 169) Within the context of the centrally located story is woven several others stories told by protagonists to one another with the purpose to retain their identity which they themselves had found in peril. Stella herself tells false story about her marriage to Roderick, as she wants him to believe that his father Victor was the abandoned party rather than she herself. She does so partly to increase the image of his dead father in the eyes of Roderick and secondly to make herself appear as a femme fatale instead of being a victim. The impression of the war scene can very well be seen in one of the scenes where Harrison is standing in the street and the flames appearing from the distance are helping him to read Stella’s address mentioned on the envelop. The depiction of the fire has been made through the use of image chandelier: â€Å"the Chandelier flare makes the street like a mirrored drawing-room† (Bowen, 315). Inside the flat when the two characters are involved in the conversations, the sounds of guns can be heard seeming to be welcomed, as they made Stella to remain quite. â€Å"The guns rested her by opening up once more† and soon they faded, â€Å"The guns, made fools of, died out again, askance† (Bowen, 319). The importance of war seems to be considered very less with Stella and Harrison being hardly aware of any danger. The language has been used in a very poetic way giving a vivid, lucid and a very realistic touch to the nature and the objects surrounding the characters. Bowen penetrates into the physical objects and events manifesting in the human behaviors and their dreams and missions. With great subtlety, complexity and force, she is able to make characters come alive making them have real experience of the terrific upheavals of the warfare. Her prose is beautifully contrived to give meaning and depth to life experiences of the characters, which continues to follow us after the last page has been read and has been placed down. At many occasions, the scenes are shifted from war torn London to the peace and tranquility of the countryside. The difference is clearly seen between the country life in England around the Victorian hulk and in the neutral Ireland. While reading it, we are made to remember about the blackouts, characters forgetting the names of the places during their train journey, continuous alike confusions between the friend and foe, and the direction to which war is taking in the passing years. Amidst this scenario lies the gripping version of the story of woman and the way she comes to term and understanding of the intolerable situations. In the first chapter itself, we are introduced to Harrison and his rude behavior towards woman who is trying to have a casual conversation with him. From the second chapter onwards, we are introduced to the heroine and with that her ongoing situation of crises and dilemma she has to undergo and her interaction and influence of Harrison on her. Their relationship with each other cannot be judged very easily but when the scenes are read carefully then only the realization of the base on which they are building their terrible relationship is felt that even before Robert makes his entry. The relationship between Stella and her son Roderick is also very beautifully carved while he takes over the Irish inheritance. On the other hand Robert’s mother and sister are both very confusing personalities making fuss all the time on whom Stella would never be able to leave good impression according to Robert. All the characters are very wonderfully drawn. There is also a scene where two women are sharing one apartment at the same time enjoying each other’s company and exchanging own tales of woes to each other. They contribute their bit in easing tension of the main protagonists. Amidst all the surviving lives of the protagonists, tensions ensue, as it becomes known that Robert is giving his support to the opponents. His disillusionment with Dunkirk induces him to adopt the title of a traitor. Climactic is the reason given by Robert for this decision of his, and on the other hand wants to enlighten himself with the most meaningful future by the war ends. In the last chapter, we are introduced to Louie who is artless girl at the Bandstand. She is a widow as her husband succumbs to the vagaries of the war. She with her child now would like to spend rest of her life at the devastated seaside where she had spent all her life as a child. An essence of the reality being transferred can be felt by the way characters have been visualizing many places in the city. All through the novel, Bowen has made special reference to the seasons, time and the lucid description of light. This aspect shows her creative spree in impressionistic technique. How the way Stella is mystified can very well be seen in the following scene: The two stations also, in Stella’s mind, became epitomes of the two most poignant seasons — in spring, in autumn everything telegraphs its mystery to your senses; nothing is trite. And more: in these years the idea of war made you see any peaceful scene as it were through glass (Bowen, 104). This passage is a manifestation of the transfer of reality in the form of metaphor. With the help of the impressions and metaphors, Bowen gives vivid description of the city London after the bombardment. The whole city is broken with almost several of the landmarks lost. As critics said there is great exposure of irony in the fiction retold and the sense of solidity and individualization in characterization increase the credibility of the most sensuous fiction. Bowen has captured London with such a great dexterity and with greatest blitz that even after reading the whole novel, the memories of this wartime London would haunt the readers for a long time.

Bw/Ip International, Inc Case

Valuation of Corporate Finance BUFN 750 BW/IP International, Inc 1? BW/IP is a good candidate for the leverage buyout. * Steady cash flow (around 30 million per year). * Strong management team. * Positive NPV (about 61. 5 million) The NPV of BW/IP is 61. 5million(301-239. 5). Thus, we are quite optimistic about this BW/IP’s project. Calculating the NPV. Method: APV: VL=VU+PV (ITS). We can get the interest paid schedule from the BW/IP’s projected operating performance, which means there is a pre-determined interest paid to debt holders.Assumption: Tax rate: 38%. From 1991 to 1993, the tax rate remains to be constant, which is 38%. And we assume that the tax rate will continue to be 38%. Exhibit 1 shows the process of calculating tax rate: Growth rate:We assume the project will last for infinity, and grow in perpetuity after year 1992. And we use the average annually growth rate from 1990 to 1993 as our perpetuity growth rate, which is 2. 3%. Change in NWC:We subtract cas h from NWC provided in the case and we get the adjusted change in NWC.The calculation is presented in Exhibit 2. Discount rate:Typically, the investment horizon of a common leverage buyout range from 5 to 10 years, so we use the ten years treasury yields, ending at 1987 as the risk free rate, which is 8. 79%. For the market return, we use the S&P 500 index in 1980s, which is 12. 79%. Thus, we can easily get the risk premium. Exhibit 3 shows the process of calculating discount rate. Tax shields:Giving the interest paid schedule, we can figure out the tax shield each year from 1988 to 1993 at the tax rate of 38%.Discount rate: with a pre-determined debt and interest paid, we should use the cost of debt to get the present value of interest tax shield, because the risk of tax shield is moving together with the risk of the loan (debt), instead of the total assets. We assume the corporate borrowing rate is the same with BBB long-term bond, which is the cost of debt, 10. 63%. Thus the pres ent value of tax shield from 1988 to 1993 is 31. 91. We assume perpetual debt from the year 1994, and the same growth rate, which is 2. 3%. Exhibit 4 shows the processing of calculating tax shields.The FCF is presented in Exhibit 5. Sensitivity Analysis for BW/IP is presented in Exhibit 6 2? We favor the proposed acquisition of UCP. The primary sources of value in the transaction include: * Low capital or cash requirement UCP is a small firm, which would require additional borrowing by BW/IP of only 13 million. * Synergy and efficient gains. UCP’s product line complemented BW/IP’s extremely well because UCP’s most attractive feature was its installed base in the petroleum industry and together they would have the largest installed base in the petroleum segment. Improved management Takeover can improve management because interest and principal payments can force management to improve performance and operating efficiency. The proposed price is reasonable, because it is higher than the levered value of the project, which is 48. 17. Method: APV: VL=VU+PV (ITS). Assumption: Tax rate: Tax rate=38%, which is the same as the tax rate for BWIP. Growth rate: We use the average annually growth rate from 1991 to 1993 as ourgrowth rate,which is 6%. Discount rate: We use the ten years treasury yields, ending at 1988 as the risk free rate, which is 9. 4%. Exhibit 7 shows the calculation of Vu Exhibit 8 shows the calculation of PV(ITS) Sensitivity Analysis for UCP/IP is presented in Exhibit 6 3. How do the various features of the BW/IP buyout affect the company’sdecisions about long-horizon opportunities such as the UCP acquisition? What are the advantages and disadvantages of the 1987 buyout, viewed as afinancial program? After the buyout, BW/IP became a privately owned company which was less dependent from Borg-Warner Corporation than before in decision making.For the opportunities that the managers favored, such as the UCP acquisition, the compa ny had more chance to carry on the deal. However, for the case in which larger amount of financing is required, the company may not be competitive enough without Borg-Warner’s financial support. The buyout could generateda better and a more efficient management, by changing the corporate structure (including modifying and replacing executive and management staff, unnecessary company sectors, and excessive expenditures), BW/IP can revitalize itself and earn substantial returns.However, since the 1987 buyout is highly leveraged, the new company has a high debt-to-equity ratio, which means the company needs to achieve required return to pay the cost of debt or faced the chance of bankruptcy. Besides, the leveraged buyout is also considered to be a risky project, which may be easily affected by economics environment. The chance of success tends to be larger under steadily growing economy, while smaller in recession periods. 4. As one of BW/IP’s bankers, would you approve t he company’s request for a waiver of covenants and financing of the UCP acquisition?Yes. A banker will not approve to finance a project unless he has confidence in the profitability of the project and in that he can get his money back. The projected NPV of the UPC deal is 48. 17 million dollars, which is far bigger than the offer 18. 5 million dollars. To analyze this qualitatively, the expected success of the UCP acquisition comes from several aspects. Undeniably, the economic and industrial forecast is against financing a risky project . However, the deal will generate positive synergies since UCP’s product line complemented BW/IP’s extremely well.BW/IP will raise its competence in both original equipment and aftermarket sector domestically as well as internationally after acquiring UPC. Besides, as mentioned in the case, the good credibility of Mr. Valli and his team and that C&D’s principals were experienced and respected in the financial community wi ll affect bankers’ attitude. Exhibit 1: Tax rate | 1987| 1988| 1989| 1990| 1991| 1992| 1993| EBT| -9. 56| -0. 001| 8. 91| 12. 95| 17. 31| 19. 49| 23. 57| Income tax| 2. 8| 0| 0| 3. 61| 6. 58| 7. 41| 8. 96| Tax rate| -29%| 0%| 0%| 28%| 38%| 38%| 38%| Exhibit 2: Change in NWC AR| 58. 68| 53. 1| 51. 69| 55. 08| 59. 11| 63. 6| 67. 91| 72. 54| INV| 58. 5| 58. 39| 60. 72| 64. 66| 69. 57| 75. 46| 80. 29| 85. 53| Other current asset| 3. 91| 3. 49| 4. 42| 4. 7| 4. 99| 5. 31| 5. 64| 5. 99| AP| 15. 78| 18. 12| 19. 73| 20. 94| 22. 32| 23. 78| 25. 19| 26. 69| Other current liabilities| 14. 92| 17. 29| 15. 19| 16. 12| 17. 1| 18. 23| 19. 36| 20. 56| NWC| 90. 39| 79. 57| 81. 91| 87. 38| 94. 25| 102. 32| 109. 29| 116. 81| Change in NWC| | -10. 82| 2. 34| 5. 47| 6. 87| 8. 07| 6. 97| 7. 52| Exhibit 3: Cost of capital Cost of capital| 17. 5%| CAPM| Rf| 8. 79%| Exhibit 7 | ?a| 1| Hint| Market return| 12. 79%| S&P 500 index in 1980s| Risk premium| 4. 00%| |Exhibit 4: Interest tax shield | 1988| 19 89| 1990| 1991| 1992| 1993| Total interest paid| 0. 63| 1. 75| 1. 66| 1. 51| 1. 4| 1. 22| ITS: tax [email  protected]%| 0. 24| 0. 67| 0. 63| 0. 57| 0. 53| 0. 46| Cost of debt 10. 63%| | PV (ITS) 1988-1993| 31. 91| PV (Terminal value)| 37. 1| Total PV (ITS)| 69. 00| Exhibit 5: Free cash flow | 1986| 1987| 1988| 1989| 1990| 1991| 1992| 1993| FCF| | 39. 37| 26. 8| 24. 62| 24. 11| 24. 57| 24. 72| 25. 8| Growth rate| 2. 3%| Terminal Value| 270| VU| 232. 89| PV (ITS)| 69| VL| 301. 89| Exhibit 6: Sensitivity analysis for BW/IP * Buyout| | * NPV| * % change of NPV| * Growth rate| * 0. 00%| * 32. | * -47. 91%| | * 2. 30%| * 62. 39| * 0. 00%| | * 4. 60%| * 109. 5| * 75. 51%| * Discount rate| * 10. 79%| * 81. 5| * 32. 52%| | * 12. 79%| * 61. 5| * 0. 00%| | * 14. 79%| * 44. 5| * -27. 64%| * Cost of debt| * 9. 63%| * 64. 5| * 4. 88%| | * 10. 63%| * 61. 5| * 0. 00%| | * 11. 63%| * 59. 5| * -3. 25%| Exhibit 7:The calculation of Vu | 1988| 1989| 1990| 1991| 1992| 1993| EBIT| -1. 15| 2. 59| 3. 29| 3. 96| 4. 34| 4. 74| Income tax @| -0. 44| 0. 98| 1. 25| 1. 50| 1. 65| 1. 80| NI| -0. 71| 1. 61| 2. 04| 2. 46| 2. 69| 2. 94| FCF| | | | | | | Depreciation| 0. 48| 0. 6| 0. 99| 0. 90| 0. 84| 0. 84| Change in NWC| | | | | | | Change in AR| 1. 13| -0. 15| -0. 22| -0. 20| -0. 13| -0. 14| Change in inventory| -0. 36| 0. 68| -0. 21| -0. 18| -0. 12| -0. 13| Change in other asset| 1. 73| 0. 00| 0. 00| 0. 00| 0. 00| 0. 00| Change in current liability| 0. 27| 0. 18| -0. 01| -0. 35| -0. 04| -0. 04| Change in NWC| 2. 23| 0. 35| -0. 42| -0. 03| -0. 21| -0. 23| Capital expenditure| 0. 18| 1. 20| 0. 40| 0. 40| 0. 40| 0. 40| FCF| -2. 64| 1. 02| 3. 05| 2. 99| 3. 34| 3. 61| Growth rate| | | | -2%| 12%| 8%| Average growth rate| 6%| | | | | | Terminal value| | | | | 53. 15| | FCF| -2. 64| 1. 02| 3. 05| 2. 99| 56. 9| | VU| 40. 28| | | | | | Exhibit 8:The calculation of PV(ITS) | 1988| 1989| 1990| 1991| 1992| 1993| Interest | 0. 63| 1. 75| 1. 66| 1. 51| 1. 40| 1. 22| ITS: tax [email  protected]%| 0. 2 4| 0. 67| 0. 63| 0. 57| 0. 53| 0. 46| Terminal value| 2. 18| | | | 10. 01| | PV (ITS)| 7. 97| | | | | | Exhibit 9: Sensitivity analysis for UCP/IP UCP| | NPV| % Change of NPV| Growth rate:| 0. 00%| 14. 35| -51. 76%| | 6. 00%| 29. 75| 0. 00%| | 12. 00%| 278. 5| 836. 13%| Discount rate:| 10. 79%| 46. 5| 57. 63%| | 12. 79%| 29. 5| 0. 00%| | 14. 79%| 20. 21| -31. 49%| cost of debt:| 9. 63%| 30. 5| 3. 39%| | 10. 63%| 29. 5| 0. 00%| | 11. 63%| 27. 5| -6. 78%|

Free Essays on Angelas Ashes

ANGELA’S ASHES The book Angela’s Ashes by Frank McCourt is a book of inspiration in a way. The whole entire book is depressing but the main character, Frank McCourt, did everything he had to do to survive. He always did what he believed in. There were times when he sinned, but he did what he thought was right. He always stuck up for himself, and it paid off at in long run. The story takes place in Ireland. His father, Malachy, was an alcoholic looking for a job. He always did try hard to get a job but couldn’t, and when it came to the family’s little money that they had, he would spend it all on booze. This made me upset to see the McCourt family struggling to survive and see the father spend all of their money to get drunk. Frank had a little brother also named Malachy along with twins that both die at a very young age early on in the story. Frank was surrounded by death all of the time. It seemed like every time he got close to someone they would end up dying. Frank and his family were very strong Catholics. They live in horrible conditions, it makes me thankful for everything that I have. Frank and his brother Malachy were picked on constantly at school for their appearance. Frank always stuck up for himself and his brother, it was sad to read about this. One of the only times I felt that Frank enjoyed himself was when he snuck into the movie theatre. Frank was a very smart kid who loved to read, the library even let him stay after it closed to let him read. This was the only time in the book that people were nice to him and showed him some respect. The story got even more depressing when the father goes to England for work and the children have to start providing for the family. They do and the father sends no money and eventually comes home with no money because he of course drank it away. This is when Frank decides to save up his money and buy a boat ticket to America. It was good to see that Frank didn’t want ... Free Essays on Angela's Ashes Free Essays on Angela's Ashes Chapeter 1: Angela’s Ashes begins with Frank McCourt, the author and main character, explaining his family’s roots. You learn that he is dirt poor and his dad moves from Ireland to New York and back again because of prohibition. The father, whose name is Malachy, is disgusting alcoholic who seems to drink to escape the reality that he and his family is living in. You also find out that Frank’s mother, Angela, had the responsibility of taking care of all of the children in the house. He has a brother whose name is also Malachy and a pair of twins. Chapter 2: Once they return home to Ireland, they had no place to go so they moved in with some relatives. It was very upsetting to see the living conditions in which they were experiencing. Not only did all of them have to share a bed, but it was also flea ridden. Then, he went into the St. Vincent de Paul Society story and how they have to reject children from boots. It was really an eye opener when you read a story like this and then realize that these people do not know where their next meal is going to be. It makes you see how lucky we really are. The happiest part of the chapter was when the society gave Angela some money for food. As the chapter goes on you see that one of the twins, Oliver, dies. That part was difficult. Then Frank explains how they had to beg on the street for coal. Just when you think that things can not get any worse, they do. The other twin goes through depression and dies. Chapter 3: In chapter three, the McCourt family moves to another area named Roden Lane. They have no furniture but the Society provides them with some. Once again another thing that opened my eyes was they lived right next to the town bathroom and if that’s not bad enough, nobody cleans it. Christmas time rolls around and all the family can get is a pig’s head from begging. Maybe if the dad would stop drinking th... Free Essays on Angela's Ashes ANGELA’S ASHES The book Angela’s Ashes by Frank McCourt is a book of inspiration in a way. The whole entire book is depressing but the main character, Frank McCourt, did everything he had to do to survive. He always did what he believed in. There were times when he sinned, but he did what he thought was right. He always stuck up for himself, and it paid off at in long run. The story takes place in Ireland. His father, Malachy, was an alcoholic looking for a job. He always did try hard to get a job but couldn’t, and when it came to the family’s little money that they had, he would spend it all on booze. This made me upset to see the McCourt family struggling to survive and see the father spend all of their money to get drunk. Frank had a little brother also named Malachy along with twins that both die at a very young age early on in the story. Frank was surrounded by death all of the time. It seemed like every time he got close to someone they would end up dying. Frank and his family were very strong Catholics. They live in horrible conditions, it makes me thankful for everything that I have. Frank and his brother Malachy were picked on constantly at school for their appearance. Frank always stuck up for himself and his brother, it was sad to read about this. One of the only times I felt that Frank enjoyed himself was when he snuck into the movie theatre. Frank was a very smart kid who loved to read, the library even let him stay after it closed to let him read. This was the only time in the book that people were nice to him and showed him some respect. The story got even more depressing when the father goes to England for work and the children have to start providing for the family. They do and the father sends no money and eventually comes home with no money because he of course drank it away. This is when Frank decides to save up his money and buy a boat ticket to America. It was good to see that Frank didn’t want ... Free Essays on Angela's Ashes Though women throughout many books written by men have been cast out and not really mentioned, Frank McCourt, author of Angela’s Ashes, does a good job showcasing his mother honesty in his memoir. Nothing is glossed over when readers are shown Angela McCourt. She was a victim of her town Limerick City and her family. She was really the one who tried to shape the family into something she knew could be, but time after time, she failed. Angela McCourt’s miscarriages, dying children and drunken husband; she was the victim. Within six years, Angela McCourt was pregnant seven times. She had one miscarriage and had to bury three out of her six children before the age of three. The pain of these loses tortured Angela so much that she could not stay in the houses where the children had died. She said she would end up in a mental institution if she had to stay with those memories. The family moved and Angela seemed to cope better, but although the pain seemed to subside, it was still there, it always was there. When she was young, Angela married Malachy McCourt, who had just gotten out of jail. There were times in their relationship when he was a decent person to her, but most of the time, he was extremely egotistic. He didn’t manage to get a job, and he spent money in the pub instead of food for his family. â€Å"She struggled to get at his pockets. Where’s the money? The children are hungry. You mad oul’ bastard, did you drink all the money again? Just what you did in Brooklyn?† (77) Angela herself suffered from the hunger and the cold and the jeers from other people about her lousy husband; but worst of all, was that Angela had to watch her children suffer because of their father. When the McCourt’s come back to Ireland from America, relatives of the family did not give anyone a warm welcome back. The children’s aunt shows her aversion to the family on many occasions. She is not willing to give the family shelter in her hous...

A History of the Colony of Rhode Island

A History of the Colony of Rhode Island The colony of Rhode Island was founded between 1636 and 1642 by five separate and combative groups, most of whom had been expelled or left the Massachusetts Bay colony for disputative reasons. The colony was first named Roodt Eylandt by Dutch trader Adriaen  Block (1567–1627), who had explored that area for the Netherlands. The name means red island and it refers to the red clay that Block reported there. Fast Facts: Rhode Island Colony Also Known As: Roodt Eylandt, Providence PlantationsNamed After: Red Island in Dutch, or perhaps after RhodesFounding Year: 1636; permanent charter 1663Founding Country: EnglandFirst Known European Settlement: William Blackstone, 1634Residential Native Communities: Narragansetts, Wampanoags  Founders: Roger Williams, Anne Hutchinson, William Coddington, William Arnold, Samuel GortonImportant People: Adriaen BlockFirst Continental Congressmen: Stephen Hopkins, Samuel WardSigners of the Declaration: Stephen Hopkins, William Ellery Early Settlements / Plantations Although the Puritan British theologian Roger Williams (1603–1683) is often given the sole role of founder of Rhode Island, the colony was in fact settled by five independent and combative sets of people between 1636 and 1642. They were all English, and most of them began their colonial experiences in Massachusetts Bay colony but were banished for various reasons. Roger Williamss group was the earliest: in 1636, he settled in what would become Providence on the north end of Narragansett Bay, after he was kicked out of the Massachusetts Bay colony.   Roger Williams had grown up in England, only leaving in 1630 with his wife Mary Barnard when the persecution of Puritans  and Separatists began increasing. He moved to the Massachusetts Bay Colony and worked from 1631 to 1635 as a pastor and a farmer. Although many in the colony saw his views as quite radical, Williams felt that the religion he practiced must be free from any influence of the Church of England and the English king. In addition, he questioned the right of the King to grant land to individuals in the New World.  While serving as a pastor in Salem, he had a fight with the colonial leaders, because he believed that each church congregation should be autonomous and should not follow directions sent down from the leaders.   Founding of Rhode Island In 1635, Williams was banished to England by the Massachusetts Bay Colony for his beliefs in the separation of church and state and freedom of religion. Instead, he fled and lived with the Narragansett Indians  in what would become Providence Plantation (meaning settlement). Providence, which he formed in 1636, attracted other separatists who wished to flee from colonial religious rules of which they did not agree.   One such separatist was the poet and feminist  Anne Hutchinson (1591–1643), another Puritan from Massachusetts Bay, who began Pocasset on Aquidneck Island in 1638, which eventually became Portsmouth. She had been banished for speaking out against the Church in Massachusetts Bay. William Coddington (1601–1678), a magistrate at Massachusetts Bay, settled first in Pocasset but split from Hutchinsons group and settled in Newport, also on Aquidneck Island, in 1639. In 1642, Massachusetts Bay ex-patriot William Arnold (1586–1676) settled on the mainland in Pawtuxet, now part of Cranston. Finally, Samuel Gorton (1593–1677) settled first in Plymouth, then Portsmouth, and then Providence, and finally set up his own group in Shawomet, later renamed to Warwick in 1642.   A Charter Political and religious squabbling was a common feature of these small plantations. Providence evicted people for speaking out in meetings; Portsmouth had to hire two police officials in late 1638 to keep the peace; a small group of people from Shawomet were arrested and brought forcibly to Boston where they were tried and convicted on various charges. William Arnold fell into dispute with Warwick plantation and for a time put his plantation under the jurisdiction of Massachusetts Bay. These disputes were primarily were struggles over religious practices and governing, in addition to boundary issues with Connecticut. Part of the problem was they had no charter: the only legitimate authority in Rhode Island from 1636–1644 was the voluntary compacts which everybody but Gortons group had agreed to. Massachusetts Bay kept intruding into their politics, and so Roger Williams was sent to England to negotiate an official charter in 1643.   Uniting the Colony The first charter was validated by British Lord Protector Oliver Cromwell in 1644 and that became the basis of government in Rhode Island colony in 1647. In 1651, Coddington obtained a separate charter, but protests led to the reinstatement of the original charter. In 1658, Cromwell died and the charter had to be renegotiated, and it was on July 8, 1663, that the Baptist minister John Clarke (1609–1676) went to London to get it: that charter united the settlements into the newly named Colony of Rhode Island and Providence Plantations.   Despite the conflict, or perhaps because of it, Rhode Island was quite progressive for its day. Known for fierce independence and the absolute separation of church and state, Rhode Island attracted persecuted groups such as Jews and Quakers. Its government guaranteed freedom of religion for all its citizens, abolished witchcraft trials, imprisonment for debt, most capital punishment, and chattel slavery of both blacks and whites, all by 1652.   The American Revolution Rhode Island was a prosperous colony by the time of the American Revolution with its fertile soil and ample harbors. However, its harbors also meant that after the French and Indian War, Rhode Island was severely impacted by British import and export regulations and taxes. The colony was a frontrunner in the movement towards independence. It severed ties before the Declaration of Independence. Although not a lot of actual fighting occurred on Rhode Island soil, except for the British seizure and occupation of Newport until October 1779.   In 1774, Rhode Island sent two men to the First Continental Congress: former governor and then-chief justice of the Supreme Court Stephen Hopkins and former governor Samuel Ward. Hopkins and William Ellery, an attorney who replaced the deceased Samuel Ward, signed the Declaration of Independence for Rhode Island.   After the war, Rhode Island continued to show its independence. In fact, it did not agree with the federalists and was the last to ratify the U.S. Constitution- after it had already gone into effect, and the government had been established. Sources and Further Reading Bozeman, Theodore Dwight. Religious Liberty and the Problem of Order in Early Rhode Island. The New England Quarterly 45.1 (1972): 44-64. Print.Frost, J. William. Quaker Versus Baptist: A Religious and Political Squabble in Rhode Island Three Hundred Years Ago. Quaker History 63.1 (1974): 39-52. Print.Gorton, Adelos. The Life and Times of Samuel Gorton. Philadelphia, Higgenson Book Company, 1907.  McLoughlin, William. Rhode Island: A History. States and the Nation. W. W. Norton Company, 1986

Human Resource Management PT 4 Essay Example | Topics and Well Written Essays - 500 words

Human Resource Management PT 4 - Essay Example Secondly it states the functions of the advertised position, this is usually the lengthy part and details what the job really is all about and can be quite particular .The third importance is that it contains attributes that are required for that particular job and provides some of the insights into what kind of work environment an employee is trying to maintain. This part also details any educational or technical requirements that may be desired or important (Philip, 1989). The fourth importance of a job description is that it stipulates clearly particulars on the one to report to and organizational structure. The fifth importance specifies the criteria for evaluation and helps clarify what is really important both for the employee and the organization. The sixth importance helps the employee understand the type and span of compensation including the benefits to be derived from the post and finally the seventh importance is all about physical surroundings and location of the place of work. Apart from the above, job descriptions also assist organizations to better understand the skill base and experience required to improve the victory of the company. They assist in recruiting, hiring, evaluating and possible termination of employees. Job descriptions are valuable because they save time, are useful in aspects of labor management and as crucial references if an applicant, government or employee agency disputes a hiring or some additional employment decis ion (Sharon, 2008). A sample job description of my previous job is that of a registered nurse and is as follows; identification of patient care needs by establishment of personal rapport with possible and real patients and other individuals in a capacity to comprehend care needs. Establishment of a compassionate atmosphere by provision of emotional, spiritual and psychological support to patients, families and friends. Promotion of