How to Do Business Like the Mafia: the Italian and American Mafia’s Role in Businesses Essay

Since the Mafia’s appearance in the 1800’s, these Italian criminal societies have infiltrated the economic and social realms of Italy and now play a large role in many countries throughout the world. Today the Mafia is considered one of the most notorious and widespread criminal organizations that has ever existed. The most prominent parts of the world that the Mafia exists are in Italy and America where they play a large role in these countries economies, most notably through their control of small and large businesses. Just like the origin of the word mafia, the history of Sicily, which is considered the birthplace of the Mafia, and its relationship with this organization, is very unique. Because of its geographic location, Sicily has always been a desirable location for trade and colonization. Generally speaking, the mafia is thought of as an Italian secret crime society, but the origins of the Mafia start way before the introduction and use of automatic weapons and illegal drugs. It was born long before it was given its name, through a long historical process in which the administration of justice was extremely fragmented and corrupt, guaranteeing impunity to the criminals. In a time of hardship and poverty, the Mafia began as a way of life: a way to protect one’s family and loved ones from the injustice of the government. Sicily’s violent and oppressive government history and its numerous corrupt and inconsistent rulers, especially regarding their justice system, fostered an atmosphere of self-reliance and cooperation among the Italian people. Through fear, inspired by threats and violence and supported by an organization of family and friends, the Mafia was able to gain and maintain this reliance and respect. It is important to acknowledge the origin of the Mafia because it is through these institutions and social structures that the Mafia was able to gain an immense amount of power and thus control businesses around the world today. In 241 BC the Romans gained control over Sicily in the first Punic War. The Romans introduced the economic and social system called the Latifundia, which created a hierarchy of people and a system of taxation that would be central to Sicily’s economy until Italian unification in 1861. Although the Roman’s actions in Sicily have no direct influence in the creation of the Mafia, they did set up the social structure of hierarchy from which the Mafia would emerge and eventually control areas of land and inadvertently control a large part of the Italian economy. In 826 the Roman Empire fell to the Arabs who brought an important aspect of life to the Sicilian people that would eventually become part of the Mafia culture; internal justice. Instead of having a system of authorities to deal with crime and misconduct, they used personal and internal justice to avenge crimes and set records straight in order to keep their businesses under their own control. The Normans were the next group to annex Sicily in the 11th century and they greatly magnified the feudal structure established by the Romans. The Spanish conquered Sicily in 1500 and they are considered the longest and most important foreign presence in Sicily. The Sicilian people were not represented by the government and eventually organized into guilds that acted as a judicial system. These guilds were unlike other European guilds and took care of their problems internally and did not include state or local authority. Internal justice led by these guilds was another step towards the formation of the Mafia (Servadio). In the late 1500’s and the early 1600’s Sicily’s feudal system went through some administrative changes. In the early 1600’s large landholders in Sicily lived in Palermo, handing over the command of their estates to estate managers called gabelloti. Appointed by the landlord, these men who were usually already prominent and respected within their region could use their power to control the people who inhabited the land. The use of the gabelloti continued through a succession of leaders and became the principle method of rule. The gabelloti, using the power given to them by the landlord, began to create entourages consisting of uomo di fiducia. The uomo di fiducia served as tax ollectors, and they had direct contact with the people. They were accompanied by campieri who were armed forces that kept the peace through fear. The emergence of these new groups also marks the creation of the middle class in Sicily, and from the middle class emerged the Mafia. All members of the Sicilian middle class used dissident tactics to gain power and money. Middlemen exploited peasants for money, artists kept people out of guilds to perpetuate their own success, and magistrates and attorneys delayed cases in an already twisted legal system. During the late 1700’s and early 1800’s these separate but powerful groups started to make contacts with each other. In addition to befriending each other, they also befriended local and regional magistrates. It is clear that as these groups began to unite themselves with the government to become a stronger and more formidable force in Sicily’s justice system, they were also gaining political ties that would allow them to carry out their business without interaction from the authorities (Servadio). Sicily’s long history with multiple judicially inept governments led to the creation and necessity of the Mafia. The Mafia was able to give people the business and protection that they not only wanted, but needed. These corrupt government institutions fostered an environment where those who were clever enough could manipulate the system to their advantage creating wealth, power and prestige through the exploitation of land, peasants and political officials in Italy as well as America. The Mafia was never just a group of gangsters, even from the beginning. There were those who carried out the dirty work, but the leaders, known as the godfathers, were often more political and business thinkers than gangsters. The Mafia used their power, gained through fear, to not only exploit the landowners and peasants but also used their political ties to carry on illegal activities without problems from local or state authorities. As the Mafia gained power and influence over the various regions and government officials, these illegal activities would expand greatly, inadvertently increasing their overall control as an organization. By the 1900’s the Mafia had become a very powerful and widespread organization throughout Italy despite an extensive amount unemployment and overty that permeated not only Sicily, but the rest of Europe as well. This is still true to this day when many countries around the world are suffering economically, the Mafia manages to stay afloat and even increase their success. Many underprivileged Italians began to immigrate to America to find better jobs to support their families. This is also when the Mafia formally entered America and began to set up small organizations throughout the country. By 1922 Mussolini and Fascism had taken a firm grip on Italy and began to crack down on the Mafia, either sending them to prison or assassinating them. Mussolini assigned Cesare Mori prefect of Italy in order for him to defeat the Mafia. Prefect Mori wanted to bring Sicily under control of the state so he suspended their rights, humiliated and arrested them and took women and children hostage in order to force the Mafia to surrender. Mussolini’s wrath pushed more and more Mafiosi out of Italy and into America (Servadio). The Mafiosi originally settled in large cities, like Chicago and New York, where industry was predominant and there were opportunities for crime, fraud and racketeering everywhere. Initially the American Mafia gangs focused primarily on â€Å"protection rackets†, but with the coming of Prohibition they began to expand to gambling, bootlegging and prostitution. It is in these fields that the American Mafia became enormously wealthy and powerful. One of the main reasons the Mafia in Italy, as well as America, has been so successful is due to its influence and heavy involvement in businesses around the world. These businesses allowed the Mafia to maintain a powerful presence in various regions by exploiting landowners, construction companies and other lucrative industries, such as drug trafficking, through fear. Despite the global recession that hit Europe in 2009, the Mafia was the one business that continued to thrive during this lean economic time. The Italian Mafia’s revenue for 2008 jumped 40 percent and sales increased to 130 billion Euros, or $167 billion, up from 90 billion Euros in 2007 according to figures supplied by Eurispes and SOS impresa (Harwood). Over the past 50 years, the main source of revenue for the Mafia has been drug trafficking, which brings in around 59 billion Euros a year (Harwood). â€Å"Studies show the criminal market never suffers during a crisis,† says Roberto Saviano, author of the best-selling book Gomorrah, the story of the Camorra crime bosses. â€Å"I’m convinced that this crisis is bringing huge advantages to criminal syndicates† (Harwood). The Italian mafia also relies on its â€Å"tried and true profit generating scheme: the protection racket† (Harwood). It is estimated that the mafia takes away over 6 percent of Italy’s Gross Domestic Product, GDP, through extortion. That’s 92 billion Euros a year, 250 million Euros a day, and 10 million Euros an hour (Harwood). Crime organizations have never been more powerful or more profitable. A small-business association called Confesercenti estimates that the Mafia collected revenues of â‚ ¬90 billion, $128 billion, in 2006, a sum equivalent to 7 percent of Italy’s GDP indicating that the Mafia’s influence as well as success continues to increase (Harwood). The Mafia does not only focus on exploiting businesses and trafficking drugs in Italy but has also extended its power to the UK; British cities are key locations in the Mafia’s vital money-laundering operations (Kington). In December of 2009, a British gambling company known as Paradise Bet Ltd was suspended when Italian police froze its assets. This action was an attempt by the Italian police to break up a Mafia clan who was in control of this company; members were accused of drug smuggling, money laundering and attempted murder. In an operation code-named â€Å"Domino†, police raids seized 227 properties, 680 bank accounts, 61 luxury cars, nine stables, 71 horses and 35 businesses said to be worth ? 200 million (Kington). Members of the Secondigliano Alliance, which is a group within the Camorra, are suspected of owning shops in London that turn out fake designer goods and act as hideouts for fugitives and fronts for drug trafficking. These are two prime examples of the Mafia’s control and dominance over businesses, land and other profitable assets. In 2000 it was reported that the Mafia controlled one in five business in Italy. Their profits were being invested in real estate, clinics, retirement homes, supermarkets, hotels and restaurants. The fortunes made by the mafia through these exploitations would be enough to pay off the public debt (BBC News) By obtaining power over these types of businesses the Mafia eventually gains authority over entire areas and even regions. The Mafia is notorious for gaining control of institutions by using a mixture of bribery and fear, and then murdering those that cross them. Control over businesses is the main reason why the Mafia is able to maintain its income as well as overall power. The Mafia uses discreet tactics to acquire land and businesses so they do not attract attention from authorities. By owning a group of small companies or even a restaurant, the Mafia is able to exploit money from them without being obvious, adding to the reasons why the inner workings of the Mafia are so secretive. Francesco Forgione, Italy’s leading expert in organized crime describes how the Nadrangheta’s Fazzari clan has two suspected members that are buying up property in London’s Wed End district. They have yet to kill but are instead investing in property and other companies to gain control over various areas in this region (Kington). Another example of the Mafia’s role in business is Antonio La Torre, a Camorra boss, who was arrested in 2005 for setting up a small commercial empire as a money-laundering operation in Aberdeen. This business included an olive oil and prosciutto-importing company and restaurant that offered jobs to Neapolitans (Harwood). It is here that you can see that the Mafia does not always resort to drug trafficking but is able to gain the same amount of power and money through what seem like legitimate businesses in order to cover up their corrupt actions. Recently, the Italian Mafia has also begun to infiltrate the wind farm business. Known in parts of Italy as â€Å"Lords of the Wind† the Mafia now owns many wind farms in Sicilian mob strongholds like Corleone (Schwartz). The reasoning behind this sudden takeover is quite simple; the power from wind farms is sold at a high rate because of generous government subsidies intended to expand the renewable energy sector. With 30 wind farms already built in Sicily and another 60 on the way, it is suspected that the Mafia will eventually control many of them. Not all 30 wind farms are owned by the Mafia but many are and locals are afraid to do anything to combat this issue, thus exemplifying the Mafia’s ability to maintain their influence and control over businesses through fear. Green energy could be the next big company that becomes a casualty of the Mafia’s criminal activity (Schwartz). Once the Mafia began to arrive in American in the 1920’s, it became clear that their initial business ventures were different from that of their homeland. Many who fled here in the early 1920’s helped establish what is known today as La Cosa Nostra or the American Mafia. Learning from their organizations back in Italy, the traditions of the Sicilian â€Å"honored society,† which absolutely forbade involvement in either narcotics or prostitution, the Mafia left the eroin business to the powerful Jewish gangsters who dominated organized crime in the 1920’s (Servadio). The Mafia was content with the substantial profits to be gained from controlling the bootleg liquor industry. By the 1920’s The United States and the provinces within Canada had adopted prohibition. It was during that era that North America gave birth to some of the largest crime syndicates, most vicious criminals, and mafia leaders. For the Mafia, prohibition meant employment, easy money and control over businesses and the people. The tainted money, prostitution, extortion and other criminal rackets did not make nearly as much money in comparison to the intake from bootlegging. Prohibition created an atmosphere that allowed crime to flourish; an atmosphere, which the mafia exploited and used to gain control over the people, businesses and subsequent regions of the United States. Prohibition was the first step that allowed the American Mafia to gain control over one of the most lucrative business America had ever seen. The leader of this Mafioso movement was Salvatore C. Luciana, known to the world as Charles â€Å"Lucky† Luciano. Lucky pioneered organizational techniques that are still the basis of organized crime today and forged an alliance between the Mafia and prominent Jewish gangs that has survived for almost 40 years. With the end of Prohibition in sight, Luciano made the decision to take the Mafia into the profitable prostitution and heroin rackets. This decision was determined more by financial considerations than anything else. The dominance of the Mafia over its Jewish and Irish rivals was built on its success in illegal distilling and rum running. Its continued supremacy, which Luciano hoped to maintain through superior organization and business, could only be sustained by developing new sources of income; drug trafficking (Servadio). Heroin was an attractive substitute to illegal distilling because it had recently become illegal. This in turn left a large market that could be easily exploited and expanded. Although heroin addicts in no way compared with drinkers in numbers, heroin profits could be just as significant: heroin’s light weight made it less expensive to smuggle than liquor, and its limited number of sources made it more easy to monopolize. Although illegal, this was a smart business venture for the American Mafia and enabled them to control a significant part of the liquor and drug trafficking business. Heroin, moreover, complemented Luciano’s and subsequently the Cosa Nostra’s other new business venture: the organization of a prostitution ring. Luciano found that addicting his prostitutes to heroin kept them quiet, steady workers, with a habit that could only be funded by this occupation. This also forced many small-time pimps out of business. By 1935 Luciano controlled 200 New York City brothels with twelve hundred prostitutes, providing him with an estimated income of more than $10 million a year (Servadio). Supplemented by growing profits from gambling and the labor movement, The Cosa Nostra was once again on a secure financial footing due to their influence and involvement with profitable and productive business ventures such as alcohol and drug trafficking as well as prostitution; they acknowledges what the people wanted and provided them with a service they would be unable to find anywhere else thus monopolizing that specific industry. It is clear that the Mafia has not only infiltrated the business of Italy but America as well and through these institution it has remained a dominant part of these societies. Although illegal in many aspects, the business ventures that Mafia undertake are incredibly lucrative and give them the opportunity to expand their organization on a large scale. Although governments are taking significant action in combating the Mafia, they continue to grow and dominate the economies of many societies to this day.

Daddy-Long-Legs analysis Essay

The text under analysis is a passage from an epistolary novel written by a well-known American writer Jean Webster. She was active politically and socially, and often included issues of interest in her books. This book is written in belles-lettres style. The story has a narrative presentation and the subject of the extract is drown from life. The author places herself in the position of the main character. The main character is a Judy. The novel episode by episode describes the life of Judy in the College. It’s unfolded through the first person narration (an â€Å"I-story†), as it’s written in the form of letters of Judy to Mr. Daddy-Long-Legs, a rich man whom she has never seen. This extract is the first letter of Judy to Mr. Smith. The style of the letter is informal.It is written in emotional tone,what corresponds definite difficulties for translation. The language of this letter is full of syntactical means. There is example of gradation : ‘It seems strange for me to be writing letters to somebody you don’t know. It seems strange to be writing letters at all’.We can reproduce it with the help of such grammatical transformation as transposition : . The translator can use the following grammatical transformation ,for example, replacement:1)when we change Active Voice on Passive Voice, e.g. Before leaving yesterday morning, Mrs. Lippett and I had a very serious talk.- ПÐ µÃ'€Ð µÃ ´ Ð ¼Ã ¾Ã ¸Ã ¼ Ð ¾Ã'‚Ã'ŠÐ µÃ ·Ã ´Ã ¾Ã ¼, Ð ²Ã'‡Ð µÃ'€Ð ° Ã'Æ'Ã'‚Ã'€Ð ¾Ã ¼, Ã'Æ' Ð ½Ã °Ã'  Ã'  Ð ¼Ã ¸Ã' Ã' Ã ¸Ã'  ЛÐ ¸Ã ¿Ã ¿Ã µÃ'‚Ã'‚ Ã' Ã ¾Ã' Ã'‚Ð ¾Ã' Ã »Ã' Ã'  Ã' Ã µÃ'€Ã'Å'Ð µÃ ·Ã ½Ã'‹Ð ¹ Ã'€Ð °Ã ·Ã ³Ã ¾Ã ²Ã ¾Ã'€.2) When we change a noun on the verb, e.g. I will write you a description- Ð ¯ Ð ¾Ã ¿Ã ¸Ã'ˆÃ'Æ' Ð’Ð °Ã ¼ Ð µÃ ³Ã ¾. By translati on the embedding can be used, e.g. I will write you a description later when I’m feeling less confused- Ð ¯ Ð ¾Ã ¿Ã ¸Ã'ˆÃ'Æ' Ð’Ð °Ã ¼ Ð µÃ ³Ã ¾ Ð ¿Ã ¾Ã ·Ã ¶Ã µ, Ð ºÃ ¾Ã ³Ã ´Ã ° Ð ¿Ã'€Ð ¾Ã ¹Ã ´Ã µÃ'‚ Ð ¼Ã ¾Ã µ Ð ¿Ã µÃ'€Ð ²Ã ¾Ã µ Ð ·Ã °Ã ¼Ã µÃ'ˆÐ °Ã'‚Ð µÃ »Ã'Å'Ã' Ã'‚Ð ²Ã ¾. There is an example of conversion, when we use the replacement, e.g. †¦having somebody take an interest in me after all these years, makes me feel as though I had found a sort of family.- Ð ¢Ã ¾Ã'‚ Ã'„Ð °Ã ºÃ'‚, Ã'‡Ã'‚Ð ¾ Ð ºÃ'‚Ð ¾Ã¢â‚¬â€˜Ã'‚Ð ¾ Ð ·Ã °Ã ¸Ã ½Ã'‚Ð µÃ'€Ð µÃ' Ã ¾Ã ²Ã °Ã »Ã' Ã'  Ð ¼Ã ½Ã ¾Ã ¹ Ð ¿Ã ¾Ã' Ã »Ã µ Ð ²Ã' Ã µÃ'… Ã' Ã'‚Ð ¸Ã'… Ð »Ã µÃ'‚, Ð ²Ã'‹Ð ·Ã'‹Ð ²Ã °Ã µÃ'‚ Ð ²Ã ¾ Ð ¼Ã ½Ã µ Ã'‚Ð °Ã ºÃ ¾Ã µ Ã'‡Ã'Æ'Ð ²Ã' Ã'‚Ð ²Ã ¾, Ã' Ã »Ã ¾Ã ²Ã ½Ã ¾ Ã'  Ð ¾Ã ±Ã'€Ð µÃ »Ã ° Ð ½Ã µÃ'‡Ã'‚Ð ¾ Ð ²Ã'€Ð ¾Ã ´Ã µ Ã' Ã µÃ ¼Ã'Å'Ð ¸. There is an idiom, which one can translate with the help of phraseological equivalent, e.g. a great deal-Ð ¼Ã ½Ã ¾Ã ³Ã ¾. The author uses such lexical expressive means as antonomasia.It is presented here by the so-called â€Å"speaking names†, which intrduce informality into the  letter and difficulties for translation,e.g. Daddy-Long-Legs -ДÐ »Ã ¸Ã ½Ã ½Ã ¾Ã ½Ã ¾Ã ³Ã ¸Ã ¹ ПÐ °Ã ¿Ã ¾Ã'‡Ð ºÃ ° (daddy — Ã'€Ð °Ã ·Ã ³. Ð ¿Ã °Ã ¿Ã °, Ð ¿Ã °Ã ¿Ã ¾Ã'‡Ð ºÃ °; Ã'‚Ð ¶. daddy-long-legs — Ð ´Ã ¾Ã »Ã ³Ã ¾Ã ½Ã ¾Ã ¶Ã ºÃ ° /Ð ½Ã °Ã' Ã µÃ ºÃ ¾Ã ¼Ã ¾Ã µ/; Ð ¿Ã °Ã'Æ'Ð º-Ã' Ã µÃ ½Ã ¾Ã ºÃ ¾Ã' Ã µÃ'†) ; Dear Kind-Trustee-Who-Sends-Orphans-to-College- 1)Ã'Æ'Ð ²Ã °Ã ¶Ã °Ã µÃ ¼Ã'‹Ð ¹ Ð ´Ã ¾Ã ±Ã'€Ã'‹Ð ¹-Ð ¿Ã ¾Ã ¿Ã µÃ'‡Ð ¸Ã'‚Ð µÃ »Ã'Å'-Ð ºÃ ¾Ã'‚Ð ¾Ã'€Ã'‹Ð ¹-Ð ¾Ã'‚Ð ¿Ã'€Ð °Ã ²Ã »Ã' Ã µÃ'‚-Ã' Ã ¸Ã'€Ð ¾Ã'‚-Ð ²-Ð ºÃ ¾Ã »Ã »Ã µÃ ´Ã ¶;2) ДÐ ¾Ã'€Ð ¾Ã ³Ã ¾Ã ¹ ДÐ ¾Ã ±Ã'€Ã'‹Ð ¹Ã¢â‚¬â€˜ÃÅ¸Ã ¾Ã ¿Ã µÃ'‡Ð ¸Ã'‚Ð µÃ »Ã'Å'‑ПÐ ¾Ã' Ã'‹Ð »Ã °Ã'ŽÃ'‰Ð ¸Ã ¹Ã¢â‚¬â€˜Ã ¡Ã ¸Ã'€Ð ¾Ã'‚‑Ð ²Ã¢â‚¬â€˜ÃÅ¡Ã ¾Ã »Ã »Ã µÃ ´Ã ¶; Mr. Girl-Hater –1)ÐÅ"Ð ¸Ã' Ã'‚Ð µÃ'€ Ðâ€"Ð µÃ ½Ã ¾Ã ½Ã µÃ ½Ã °Ã ²Ã ¸Ã' Ã ½Ã ¸Ã º, 2) ÐÅ"Ð ¸Ã' Ã'‚Ð µÃ'€ ПÃ'€Ð ¾Ã'‚Ð ¸Ã ²Ã ½Ã ¸Ã º ДÐ µÃ ²Ã'Æ'Ã'ˆÐ µÃ º; Mr. Rich-Man- 1)ÐÅ"Ð ¸Ã' Ã'‚Ð µÃ'€ БÐ ¾Ã ³Ã °Ã'‡, 2) ÐÅ"Ð ¸Ã' Ã'‚Ð µÃ'€ Ð ¢Ã ¾Ã »Ã' Ã'‚Ð ¾Ã' Ã'Æ'Ð ¼. There are also some prope names, which should be transcribed , e.g. Mrs. Lippett- Ð ¼Ã ¸Ã' Ã' Ã ¸Ã'  ЛÐ ¸Ã ¿Ã ¿Ã µÃ'‚Ã'‚, John Smith- ДÐ ¶Ã ¾Ã ½ Ð ¡Ã ¼Ã ¸Ã'‚, John Grier Home- Ð ¿Ã'€Ð ¸Ã'ŽÃ'‚ ДÐ ¶Ã ¾Ã ½Ã ° ГÃ'€Ð ¸Ã'€Ð °(ГÃ'€Ð °Ã ¹Ã µÃ'€Ð °). The lexical expressive means as similie can be find,e.g. I feel like a fire horse all of the time- Ã'  Ð ²Ã' Ã µ Ð ²Ã'€Ð µÃ ¼Ã'  Ã'‡Ã'Æ'Ð ²Ã' Ã'‚Ð ²Ã'Æ'Ã'Ž Ã' Ã µÃ ±Ã' , Ã' Ã »Ã ¾Ã ²Ã ½Ã ¾ Ð »Ã ¾Ã'ˆÐ °Ã ´Ã'Å' Ð ¿Ã µÃ'€Ð µÃ ´ Ã' Ã'‚Ð °Ã'€Ã'‚Ð ¾Ã ¼/ Ã'  Ã'‡Ã'Æ'Ð ²Ã' Ã'‚Ð ²Ã'Æ'Ã'Ž Ã' Ã µÃ ±Ã'  Ð ¿Ã ¾Ã ¶Ã °Ã'€Ð ½Ã ¾Ã ¹ Ð »Ã ¾Ã'ˆÐ °Ã ´Ã'Å'Ã'Ž Ð ²Ã' Ã µ Ð ²Ã'€Ð µÃ ¼Ã' . The author achieves the humorous effect because of so-called Speaking Names and funny tone of the whole letter, for example ,a rethorical question: â€Å"Why couldn’t you have picked out a name with a little personality? »-  « ПÐ ¾Ã'‡Ð µÃ ¼Ã'Æ' Ð ²Ã'‹ Ð ½Ã µ Ð ²Ã'‹Ð ±Ã'€Ð °Ã »Ã ¸ Ð ¸Ã ¼Ã'  Ã'  Ã'…Ð ¾Ã'‚Ã'Å' Ã'‡Ã'Æ'Ã'‚Ð ¾Ã'‡Ð ºÃ ¾Ã ¹ Ð ¸Ã ½Ã ´Ã ¸Ã ²Ã ¸Ã ´Ã'Æ'Ð °Ã »Ã'Å'Ð ½Ã ¾Ã' Ã'‚Ð ¸? » The writing style helps us to understand better the chaming character of Jerusha Abbot t, her naive and witty thoughts and ideas.The translator should keep the atmosphere of the text and retain all syntactical and lexical expressive means.

My Dad: My Mentor and Guide

Commemorative Speech Good morning every one I want to start by asking you this What is your definition of a great man? Is it a man that goes above and beyond to provide for his family and loved ones? Or is it a man that teaches u invaluable lessons in life every chance that he gets, Or is it a man that faces difficulties and always manage to light a smile on your face and prove to you that there’s in fact a silver lining in behind dark clouds? I think all these traits make up a great man and I have the honor to call one of them my father, Venancio Ang.He was born in the Southern Part of the Philippines, Davao City. His mom was that of a Spanish Descendant and His dad was Chinese, which makes him a Chinoy. â€Å"Which means Chinese Filipino† My dad has taught me great lessons in life, and I am here because I want to share with you about all the lessons in life he has taught me and the most valuable which I kept with me and the type of inspiration he gave my family. I wan t to start of with the lessons in life, like I said there were many of them but the one that really stuck to me was hard work, and family.Hard work, without hard work you don’t reach your goals, and that/s something my dad would always tell me. My dad was all about using this and using these. And he would do it on a constant basis, all day every day 24/7. And he taught my brother and I what it is to really work hard for what you want in life and how good you feel after you see the fruits of your labor. And finally, Family. I’m grateful to be brought up in such a kind and loving family. Growing up my dad used to always tell me that a family is where home is.Which is very true, because when I go through life’s challenges the first thing I think of is them. He has taught me how important foundation is in order to keep me grounded. My dad always used to say, â€Å"Twirly, remember at the end of the day it all comes down to family. † This world isn’t ea sy. And our lives are defined by how we respond in adversity. The greatest among us overcome trials and seek to learn from them. Without family I wouldn’t be the person I am today.My dad, a God fearing man who has taught me so many more lessons in life that I wish I could share with you if there was given time. He is my backbone and friend. He has taught me the value of working hard and pursuing lasting significance over worldly success. I highly respect my father for who he is and what he stands for in life. He truly is a God given gift to my family and everybody else who’s lives he’s touched. I am grateful to be brought up by a father like him and he has truly set the kind of example a father should have.

Punitive Damages Promotes Justice while Tort Reform Hurts Society Research Paper

Punitive Damages Promotes Justice while Tort Reform Hurts Society - Research Paper Example Exemplary or Punitive damages are financial damages given to a claimant in a personal civil action and evaluated against a defendant established to be responsible for deliberately infringing the rights of the plaintiff. However, many people confuse punitive damages with compensatory damages. The major difference is that the awarding of punitive damages can only occur after a judge has established that a defendant is accountable for a claimant’s injuries and has set a suitable compensatory award. Moreover, punitive damages are given to a claimant, and are evaluated against a defendant, not counting and excluding compensatory damages. In addition, the awarding of punitive damages can only be successful in occasions where the injury inflicted to the claimant was the anticipated and likely effect of the defendant’s actions.† Moreover, the awarding of punitive damages only occurs in cases where the actions of the defendant are of an adequately egregious nature. Another aspect of punitive damages is that in theory, many people view them as an amazing solution. The major aim of awarding punitive damages is prevent defendants and others from practicing similar behavior. However, large companies constantly pressurize policymakers to put a cap or restrict on punitive damage awards. This is because they deem that punitive damages incur heavy costs. Conversely, imposing limitations on punitive damages would reduce their effectiveness and deem their purpose insignificant. (Sayas, 2011). In addition, punitive damages are a community solution for a community wrong. In this regard, punitive damages are state-inflicted charges for disruptive behavior, safeguarding the public inflicting charges on producers for their deliberate, blatant unconcern to human safety (Pace, 1997). Moreover, punitive damages have a monetary effect that not only obtains the notice of the defendant for perverse behavior, but also to cause the whole business to concentrate on the harm caused and take remedial action (Boulton, 2004). Although there is an extensive reporting of cases relating to multi-million dollar punitive damage awards, the truth is that judges are not hurriedly awarding these damages. This implies that there is no extensive awarding of punitive damages though they are significant in the society. According to a research by an Institute for Civil Justice, punitive damages occur in below 4 percent of all judges decisions. The major reason for this is that there is no awarding of punitive damages except that the claimant clearly illustrates that the defendant meant to harm the claimant, or knew that claimant was likely to experience harm, but intentionally ignored that risk (Sayas, 2011). There are numerous forms of torts, but regarding tort reform, the two major areas of concentration are medical malpractice and products liability. Medical malpractice is a law section that holds medical experts responsible for damage caused by their behavior after they do not conform to sensible principles. On the other hand, products liability is the sec tion of law that normally holds firms accountable for releasing unreasonably risky products on the market (Boulton, 2004). In the 1980s, the tort reform movement started to build up a more lasting institutionalized method to advocate for reform. Not amazingly, there have been extensive arguments concerning the objectives

Briefly elaborate what this expressionist form consists of and how it Essay

Briefly elaborate what this expressionist form consists of and how it reflects the movement as a whole. Then relate these genera - Essay Example Moreover, it is depicted as choosing the subject matter of spiritual reclamation and using an oratorical tone. In reality, expressionism combined realist and symbolist objects and its transcendental instruments provided an intuition into the social and historical elements (Bronner & Kellner, 4). Expressionism has often been characterized based on the analytical and abstract proclamations of expressionist artists and literarians. In truth, the novel and modernistic art movements that prospered in Europe resulted in various confused ideas and beliefs that had been associated with the movement but had nothing to do with the art. Expressionism gained a significant artistic revolution after it rationalized its importance by proclaiming its profound unconventionality. The movement was further promoted by expressionist artists, literati, and publicists. It soon gained recognition due to its abstract writing and legitimating theories. Geoffrey Perkins also describes these as being the reason s for its demise. The â€Å"two Expressionisms† theory developed by Wolfgang Paulsen divides expressionism into two stages. It explains the distinction of each stage, the first one being detracting and extremely creative and the second one being unsophisticated, vocal and politically active stage. However, there are various contradictory trends in the movement which make it difficult to place them into distinct stages for example, â€Å"naive† and â€Å"sophisticated†, â€Å"rhetorical† and â€Å"formal†, and â€Å"artistic† and â€Å"political† (Bronner & Kellner, 5). The presence of the two extreme tendencies of artistic and political, and rhetorical and formal in the same works makes the segregation of expressionism into two categories unattainable. Expressionism has an inconsistent culture. The lack of homogeneity of expressionist rebellions allows inaccurate assumptions to be made. Despite difficulties in defining expressionism, this art movement has been influenced by the social conditions and the cultural traditions that existed in Germany during that time. Nietzsche’s powerful significance in Germany had a great impact on expressionism. Expressionist art was also influenced by romanticism, gothic, and baroque styles of painting (Bronner & Kellner, 7). The zeal and dissatisfaction of expressionist spurred them to demand novel forms of expressions thereby resulting in modernization. Expressionism is therefore a crucial source of knowledge illustrating subjectivity through its paradoxical attempts (Bronner & Kellner, 31). The film The Cabinet of Doctor Caligari was written by two authors, Hans Janowitz ad Carl Mayer. The story was influenced by an event Janowitz experienced before World War I near Holstenwall. In trying to find an inspiration, he followed the path of a girl’s laugh which seemed to taper off behind a shrubbery. Few minutes later a dark bourgeois man passed him and the next day a murder in Holstenwall made the headlines (Kracauer, 1). The story of the film is therefore located in Holstenwall where a fair moves. It is also important to note that Janowitz had served as an officer in the regiment during World War I and had returned developing a sense of hatred for the authority that resulted in the deaths of millions of people. After both the authors had written the manuscript they were stuck at the name of the

Measuring the concentration Of HCL by using gas dietitian tube Assignment

Measuring the concentration Of HCL by using gas dietitian tube - Assignment Example After the reaction starts, more or less 20 seconds of information will be gathered with every trial, to plan a typical pattern (a chart of pressure about whether). With normal inclines of diverse action of focuses, a straight relapse line will then be made to draw the design, in regards to the impact of fixation upon weight the rate of response. As indicated by Collision Theory, the reactant particles must impact together, and consequently making a response. Since expanding the amassing of HCL corrosive arrangement, likewise implies an increase in the quantity of hydrogen and chloride particles, crash between the reactant particles increments too, bringing about more items hydrogen gas. With more generation of hydrogen gas in the bound test tube, weight will develop. Consequently, if at a given time of time, the amassing of HCL corrosive arrangement expands, then the rate of response will increment likewise, in light of the fact that more impacts will happen, creating hydrogen gas at a higher rate. From the table above, the standard deviations for every amassing of HCL arrangement are ascertained, the aftereffects of this investigation are decently exact, however not as it were. Also, instabilities made amid the planning of the test, as with the administration of contraption and materials, for example, the gas weight with time diminishes the precision. Despite the fact that the chart containing the general pattern of focus impact upon the rate of response and appears to accept the theory, the rate of response of 0.25m HCL arrangement emerges of the pattern, diminishing the legitimacy of this present experiments results. The pattern of different concentrations of reactants affecting the rate of response is outlined. The direct relapse line shows the reasonable change in rate of response, as indicated by a change in fixation bring down the focus, the slower the rate of the response subsequent

Congestion Charging Essay Example | Topics and Well Written Essays - 1000 words

Congestion Charging - Essay Example The problem has been aggravated by absence of effective public transport systems in major cities of the world (Banister D, 2003). This has resulted to the need for people to acquire private means of transport, resulting in traffic congestions which are characteristic of almost all major cities. The major principle underlying congestion charging is to ease traffic. It has been found out that the amount of man hours spent on traffic jams impacts very negatively on the economy of any country (Litman T, 2006). In many cities, people waste a third of a regular working day held up in traffic jams. Having too many cars in the city has also brought about the problem of parking. The parking space available is not enough to accommodate the rising number of cars in the cities. This has resulted to having many cars in the streets, not having anywhere to park People result in unlawful practices like double parking which exposes them to penalties. Noise pollution has also been blamed on too many cars in the cities. Workers in the cities mostly find presence of many cars being much of a pollutant (Litman T, 2006). Over use of certain roads at particular times of a day also contributes to running down such roads. It has been established that during the peak hours, that is, morning and evenings during weekdays, the volume of cars is usually very high, thus occasioning the need to restrict movement. How it is supposed to work The workability of such a project relies heavily on the available alternatives. Most city residents who would be affected by this will first be interested to know what options would be available. This calls for building of a good public transport network. This system works within a given radius of the central business area of the city (Banister D, 2003). Motorists wishing to enter such areas are supposed to pay a premium. The London city congestion charging system, for example uses various ways of collecting money for those wishing to enter the restricted parts of the city such as: - Payment through credit or debit cards via a call centre, send cheques through the postal system or pay cash through retail outlets like petrol stations and grocery stores. All these payments are connected to a central database that helps in tracking defaulters (Banister D, 2003). There could also be a system whereby prospective users of the charging area can buy electronic cards which they load with credit. At the entrance of the charging a

Argument essay Example | Topics and Well Written Essays - 1000 words - 4

Argument - Essay Example In the light of the above, it may be argued that it is necessary to keep cultural traditions even if a person has moved into a new country because old culture has its own relevance in an individual’s life. Americanized immigrants like Vietnamese believe that their children will not keep their traditions alive because they do not understand why the rituals are performed on occasions. They believe that the tradition will culminate with the present generation. The children of immigrants have no idea about the prayers to be made to long departed souls. Though the old generation makes it a point to perform all the cultural traditions in varying occasions even if they live in the United States asking for the protection and guidance of the departed souls, their children are only interested in worldly matters of studies, degrees and recognitions. The agrarian ethos of family and worship has given way to the obsession of individual’s glories and ambitions. Keeping tradition alive, however, does not move away from the responsibility of the Americanized younger immigrant generations because at some point of time they regret and feel guilt for not carrying forward their cultural values (Lam 2003). It may be noted that there is not such element as timeless tradition because immigrants consider life of their ethnic society from a different perspective in a foreign land. To keep the tradition alive, immigrants usually build up their version of tradition by re-conceptualizing their past in the new foreign society to discuss issues and dilemmas. The invented tradition has a significance of its own because immigrants interpret and function in the present society according to the cultural models of the past. Factors that help immigrants to keep their cultural traditions of their home country alive are strong immigrant institutions and communities, ethnic networks and transnational relations. In

Tourism destinations Essay Example | Topics and Well Written Essays - 3000 words

Tourism destinations - Essay Example Introduction Tourism activities all over the world take place at particular destinations. Destinations are very important parts of tourism since they determine whether the country is exciting to tourists or not. Most tourists get attracted to various destinations in the world through destination marketing organizations. In Australia, the marketing of various tourist destinations is done by an organization known as tourism Australia. A destination may refer to any location in any country. However, tourists may define destinations to mean those naturally attractive sites that are pleasing to explore. Destination can be a specific geographical area or a combination of several locations. Further, in the perspective of a tourist, destination can be defined as any area that has appealing attributed and services that would enable them choose the place for their leisure purposes. To succeed in destination marketing, organization such as tourism Australia should undertake a thorough analysis of the market. They should also determine other competitive destinations that can pose challenges to the Australian tourism sector. The analysis of the market should include the assessment of factors such as hotel accommodations, nature, historic sites and other attractions in the tourist destination. Other aspects that must be considered by the destination marketing organizations include security and the cleanliness of the place (Svarcas, Cass & Australian National Audit Office 5). Ningaloo Reef and Shark Bay, Western Australia Ningaloo reef is an exciting place to visit in Australia. It is also one of the best tourist attraction sites where tourists can watch as swim with the world’s largest fish known as shark. The sharks congregate in this place shortly after the collection of coral spawning; this takes place in every third month of the year. Ningaloo reef is located in the North West region of Australia and is approximately 1200km from Perth. In addition, the reef is abo ut 260 km in length and is the only reef in Australia that is located close to a landmass. The reef is also famous for its ability to allow for the feeding and the mating of sharks. This reefs provides a favorable breeding ground to ensure that the number of sharks do not reduce to extinction levels. There are several species of fish as coral that constitute the Ningaloo reef which attract several tourists to the site every year (Ningaloo par 1). Shark Bay Shark bay has one of the best coastal scenery and islands that provide exciting leisure adventures to tourists. Shark bay is located in the western part off Australia and has an area of about 4,800 km2. Other exciting species of animals that live in Shark bay include the Dugong and the Stromatolites. Stromatolites are members of the algae family that is said to be some of the ancient forms of life the world. The shark bay Tourist attraction is an important site in providing habitat for several endangered species of animals. Some o f the endangered species of animals in Australia are actually found in this tourist site. The endangered species of animals include the Boodie, Rufous, Hare-Wallaby, Banded Hare Wallaby, the shark bay mouse and the Western barred. These species of animals

Research project on agrotourism in brazil Essay

Research project on agrotourism in brazil - Essay Example The farmers would open their farms and give tourists an opportunity to visit remote rural parts of the world that normally people would not have an opportunity to visit. For this project, the research work was carried out in South America, and specifically in Brazil. Tourist could view activities, such as harvesting and provide hands on help in the process, and actually observe how sugar canes, locally grown fruits, corn, coconuts, etc. were harvested in the country of origin. From a farmer’s perspective, the objective of agritourism by welcoming tourism into their community was to receive income from tourism activities, thus enabling the farmers and local communities to benefit financially. In this project, the local community would not be a part of an overseas operation that took a higher proportion of their lively hoods, by corrupt methods. Agritourism would strive for the economic development, cultural preservation, rural development, and achieve sustainable growth in the future. The project aims to benefit not only the farmers or the people directly involved in the project, but also contribute to the growth and development of the whole community. Thaise Guzzatti has developed such a plan for Brazil, and according to her, agritourism model brought new sources of income for rural families, prompting rural development and preserved local culture and community, while benefiting the tourist simultaneously (â€Å"Thaise Guzzatti,† 2007). With the help of agritourism, it would be possible to develop the remote rural areas and make them more sustainable in the future. An agricultural tourism model should be designed to help compliment the local community, blend with the community, and offer support and encouragement, rather than overwhelm it with tourism activities. It should help promote better infrastructure, stability in the community, more jobs

Music -Blues Assignment Example | Topics and Well Written Essays - 250 words

Music -Blues - Assignment Example The new living conditions experienced by the Negros made them to start blues music as a form of appropriating and deconstructing white musical elements. These musical conducts created the images of solitary and a need for modifying the Negro’s way of life and new structure. Most blues-singers were considered as outcasts even among their own race because many of the laws that had been made at the time, which divided the Africans amongst themselves. The AAB format uses the 12 bar structure and is a common structure in blues music. AAB denotes the structure of every individual verse in a song and is often used as a compound form in both melody and lyrics. An example of a song, which uses the format, is Pride and Joy 1983 uploaded on February 8, 2010 and was produced on December 6 1983 at the CHCH Studios in Canada-Hamilton. The recording artists for the song are Stevie Ray Vaughan and Albert King. The song is about love and does not comprise one of the topics that reflected the hostility and desire for success among the

Signal Cable Company Essay Example for Free

Signal Cable Company Essay Case 1: Signal cable company 1. Why has the stock price fallen despite the fact that the net income has increased? Ans: The stock price for Signal Cable company could have fallen for a variety of reasons. Stock price is influenced by the performance of the company, investor expectations as well as general market/economic conditions. In the case of Signal, it is clear that the stock price fell despite an increase in the net income. This could be possibly because the company might have made incorrect investment decisions by investing in two manufacturing plants as well tying up more money in inventory. Shareholders may not be happy with this decision and consequently the demand for the stock may have decreased causing a drop in price. In addition, the dividends offered by the firm has increased in 2004 from 0.187$ per share to 0.214$ per share. Once again, this could be indicative to the market of the company being uncertain of what to do with their resources and not having enough attractive investments to pursue. 2. How liquid would you say that this company is? Calculate the absolute liquidity of the firm. How does it compare with the previous year’s liquidity position? Ans: Short term solvency or the liquidity of a firm can be measured using the liquidity ratios. This is a measure of short term liquidity helping assess the sufficiency of current assets to meet current liabilities. The ratios include: i) Current Ratio: 2003= 2.50 2013= 2.06. The current ratio of the firm has decreased between the last 2 years. This is mainly driven by a huge increase in the inventory held by Signal Cable Company as well as an increase in the accounts receivables. This could be because creditors are not paying on or delays on the banking side. ii) Quick Ratio: 2004= 0.608

Credit Ratings Role in the Financial Crisis

Credit Ratings Role in the Financial Crisis The global financial systems institutional framework has been evolving over time.Every crisis has helped decipher a gap in the financial structure which is then fixed by the regulating authorities.It hasnt been very often that the regulators were able to identify the gaps before the market identified it.This does not serve the purpose of existence of regulatory authorities.In future the role of regulatory authorities should be pro active in nature rather than reactive mode of undertaking corrective actions. The subprime crisis which originated in the united states led to a global melt down which was severe.The mortgage market in the United States saw a tremendous growth in the initial years of the 21st century. Subprime borrowers started obtaining mortgages due to availability of cheap credit, lenient lending practices and appreciation in real estate values. These mortgages were inturn sold by the lenders to investment banks who packaged them into exotic securities and sold them to high risk taking investors seeking high returns. Investors had faith in these packaged securities primarily because of Credit Rating Agencies (CRA) ratings of these securities as investment grade. In 2007, the tide turned and credit became expensive. Home values dropped. Majority of the subprime buyers started defaulting their loan payments. The CRAs rapidly downgraded all the securities for which they had given favourable ratings. This dissertation is undertaken to understand the emergence of structured financial products, the rating process followed by the credit rating agencies for rating them and the mistakes done by the rating agencies, a major contributor to the subprime mess in the United States which had ripple effect across financial markets all over the world. Literature Review: The following research papers and articles have been referred and reviewed in order to gain indepth knowledge about the work done about the dissertation topic under consideration. This would facilitate a clear understanding of different view points to the issue and enable a comprehensive analysis of the topic. According to V.Gupta, R.K.Mittal K.Bhalla (2010), low interest rates, abundant liquidity and a chase for yield led to the emergence of sub prime lending which was given undue support by the credit rating agencies. Credit rating agencies gave investment grade ratings to securitization transactions based on subprime mortgage loans. The CRAs combined lower rated mortgage loans with equity to form mezzanine CDO enabling a higher credit rating. Also CRAs used the same risk metric for assessment of all instruments. The CRAs assigned supersafe, triple-A ratings to structured products that later turned out to be extremely risky, and in some cases worthless. This has been illustrated with few examples of downgrades.The paper concludes that The regulatory framework should also facilitate the conduct of stress tests by users on key model parameters, and provide for the disclosure by credit rating agencies of the economic assumptions underlying their rating of structured products. According to Katz and Salinas (2009), faulty credit ratings and the flawed rating process have been the key drivers to the financial crisis 2007-2008. While the easy availability of (what turned out to be flawed) ratings fueled the growth of thismarket, the subsequent downgrades in ratings accelerated the markets collapse.The paper suggests that While corporate debt ratings are based on publicly available, audited financial statements, structured debt ratings are based on nonpublic, nonstandard, unaudited information supplied by the originator or nominal issuer. Moreover, rating agencies had no obligation to perform due diligence to assess the accuracy of the information and often relied on representations and warranties from the issuers about the quality of the data, which later proved to be inadequate. The researchers note that the credit rating agencies have always been slow to react to market events and a few examples have been quoted.Few measures suggested by the researchers inc lude managing conflict of interest, better transparency, direct government oversight etc. According to Fender and Kiff (2004) , rating od collateralised debt obligations involves assumptions such as default probability, recovery rates and correlated defaults of pool assets. The research paper analyses one of the rating methodologies used which is termed as Binomial Expansion Technique.A comparative analysis of this method and Monte corlo Simulation is done. The paper elaborates the implications of usage of different techniques on the rating outcomes. It finally discusses how methodological differences might induce issuers to strategically select rating agencies to get CDOS rated. According to Barnett- Hart(2009), Collateralized debt obligations (CDOs) have been responsible for $542 billion in write-downs at financial institutions since the beginning of the credit crisis.The poor CDO performance has been attributed to inclusion of low quality collateral with exposure to U.S residential housing market.The role of CDO underwriters and credit rating agencies in the crisis have been discussed. The credit rating agencies failed to rate the performance of CDOS precisely due to over automation in rating methodologies and heavy reliance on input whose accuracy was not verified. The researcher concludes that by understanding the CDO market meltdown story more effective regulatory and economic policies and practices to prevent history from repeating itself in the future. According to Securities and Exchange commission(2008), few observations about credit rating agencies with respect to CDOS have been made.SEC claims that few credit rating agencies could not deal with the substantial increase in the number and complexity of the CDOS since 2002. Rating agencies failed to document significant steps in rating of CDOS including reasons behind deviation from the models. Also the internal audit procedure of rating agencies varied significantly.The report summarises the remedial actions that the Nationally Recognised Statistical Rating Organisations(NRSRO) would take after the SEC examined them and came up with issues to be looked into. Under the new law and rules, NRSROs are required to make certain public disclosures, make and retain certain records, furnish certain financial reports to the Commission, establish procedures to manage the handling of material non-public information and disclose and manage conflicts of interest. The Commissions rules addition ally prohibit an NRSRO from having certain conflicts of interest and engaging in certain unfair, abusive, or coercive practices. According to Partnoy (2008), Credit rating agencies have been the primary drivers of second level securitisation.Investors did not examine the underlying assets and depended on parameters set by rating agencies to assess the CDOS. If the Credit rating agencies had used reasonable and accurate models and assumptions , the CDO transactions would not have been problematic. The paper suggests some policy prescriptions which include elimination of explicit reliance on credit ratings and the claims made by rating agencies that the ratings are mere opinions should not be accepted any longer. The researcher suggests that rolling average of market measures is a much better representation of the instrument than the unchanged credit rating .Credit default swap spreads would provide a warning about the CDOs and their true performance in the market. According to M.K.Datar(2011), the role of CRAs in the crisis has attracted attention basically owing to the severe downgrades during the initial stages of the crisis. The conflict of interest in the payment model has been discussed and the author suggests that investor pay model should be adopted as the issuer pay model creates a bias as rating agencies might be prone to give good ratings because the issuers are paying for it.An alternative platform pay model has been suggested in the paper wherein an issuer approaches a clearing house (platform) with a preset fee to get a rating. The platform would get the ratings done from a pool of recognised CRAs. This process avoids direct contact between the issuer and the rating agency.The paper concludes that better disclosures by CRAs and their subsidiaries in respect of details of earning from rating and non-rating revenues, default and transition statistics would play a key role in improved governance in CRAs. Problem Definition: The dissertation work is undertaken to understand the reasons behind the emergence of the subprime crisis in late 2000s and the role of credit rating agencies in the crisis.The study is divided into two parts studying the pre crisis and post crisis situations and analysing the change in credit ratings of various complex instruments in response to the crisis. The objectives are briefly stated as below: Understand the evolution of structured financial products Understand the causes of subprime crisis Study the credit rating process for CDOS Study the factors that drove the rapid downgrade of CDOs in the initial meltdown stages Analyse the flaws in the rating process which led to failure in forecasting true performance. Suggestions and corrective action for facilitating accuracy in credit ratings of complex products. Research methodology: Research Design: The method adopted for research is causal research wherein the problem in question is understood and the degree of impact of the cause on the effect under study is analysed. The financial crisis that began in 2007 is studied and the contribution of credit ratings to the crisis is analysed. Credit ratings serve as the control group in this research. Finally suggestions for improvement in credit ratings and measures to be taken are proposed. Methods and Techniques of data collection and analysis: To achieve the research objectives, secondary data from reliable sources are being used. Thorough study of the existing literature is being done to understand different ideas and view points on the topic which would facilitate a comprehensive analysis of the issue. Methodology adopted for rating complex products by leading credit rating agencies has been studied in detail which includes statistical tools and financial models. Data sources: Data is being obtained from various secondary data sources for study and analysis. The major sources used for research are as follows: Credit Rating Agencies websites and reports Banking for International Settlements(BIS) working papers and reports Securities and Exchange Commission reports Journals and papers published on Credit ratings contribution to the Crisis. DRIVERS TO EMERGENCE OF FINANCIAL CRISIS 2007-2008: The financial crisis was fuelled right from the early 2000s through various factors , the most important of which is sub-prime lending. This inturn led to construction of CDOs at a later stage in order to transfer the concentrated risk of banks to the investors . Hence it is vital to get a clear idea about the emergence of sub prime lending and evolution of CDOs . Sub-Prime lending: The sub-prime mortgage market caters to customers who are unable to meet normal credit and/or documentation requirements for mortgages. Subprime lending is riskier than normal lending for the banks. Hence banks tend to charge a higher interest rate to compensate for the risk. Over the past decade, this mark-up over prime rates has been about 2%, making lending potentially very lucrative. Only by the mid-1990s did the subprime mortgage market begin to take off as a number of factors emerged which apparently mitigated the default risk on such loans and hence led to an increasing number of banks lending ever-larger amounts to this sector. Some important factors which contributed to a boom in subprime lending are discussed below. Introduction to Sub Prime Lending: Evolution of Structured Financial Products: Collateralised debt obligations have been one of the complex financial products which have been instrumental in driving the financial system into a crisis. The evolution of CDOs needs to be understood in order to study the emergence of the financial crisis. The basic principle behind a CDO involves re-packaging of fixed income securities and division of their cash flows according to a specified structure. A CDO is constructed by creating a brain-dead company, a special purpose entity (SPE) or structured investment vehicle (SIV), which buys assets and issues bonds backed by the assets cash flows. The bonds are divided into a number of tranches with different claims on the principal and interest generated by the CDOs assets. The mechanics of a typical CDO are illustrated in Diagram A.  [1]   In order to understand the sudden growth in the demand for CDOs which in turn led to the financial crisis , it is vital to list out the reasons behind the growth of CDOs which are as below. Rationale behind growth of CDOs: Securitisation has been a way that helped banks to bundle loans and sell it to investors or make it off-balance sheet items .Once these items are removed from the balance sheet the capital adequacy gets more space and hence banks make new loans and the process continues. This basically facilitates banks to free up cash and easily meet BASEL norms for capital adequacy. The second rationale is re-allocation of risk.CDOs helps banks reduce the concentration of risk and also create securities as per specific requirements and risk profiles of the investors. This facilitated institutional investors to purchase CDOs as they can invest only in highly rated investment grade securities. CDOs allowed these investors to gain exposure to assets that, on their own, had been too risky, while investors looking to take more risk and receive potentially higher returns could buy the most junior or equity CDO tranches.  [2]   These are the major reasons behind growth of CDOs . Banks only thought of their own benefits and growth and the aftermath of this action was left to the market to face in reality few years down the lane . The consequences of this act of the highly knowledgeable financial community has been faced by people across the globe. Credit Ratings and CDOs: An overview Investors invest in securities based on various criteria one such being reliable ratings given by well known credit rating agencies. Credit rating agencies(CRA) were basically formed to guide investors assess risk of fixed income securities. CRAs have played a major role in the growth of CDOs market as investors relied on the ratings given to these complex structures and based their investments majorly on these credit ratings. They used credit ratings in place of their due diligence for assessment of CDOs. Credit rating agencies are approved by Nationally recognised Statistical rating organisation(NRSRO) . There are three well known players in the U.S financial market which are Moodys Fitch Standard and Poors These three agencies rated CDOs and the fees generated by rating CDOs were quite high which led to record profits . The percentage of CDO deals that were rated by the credit rating agencies has been given in the below diagram. Source: UBS CDO research Note: The percentage total exceeds 100 as the same instruments have been rated by more than one agency. Revenue earned by the rating agencies has grown since 2002 which has been depicted in the diagram below: Source:thismatter.com/money According to Mark Adelson, current Chief Credit Officer at SP: The advent of CDOs in the mid-1980s was a watershed event for the evolution of rating definitions. Until the first CDOs, rating agencies were only producers of ratings; they were not consumers. With the arrival of CDOs, rating agencies made use of their previous ratings as ingredients for making new ratings à ¢Ã¢â€š ¬Ã¢â‚¬Å" they had to eat their own cooking. For rating CDOs, the agencies used ratings as the primary basis for ascribing mathematical properties (e.g., default probabilities or expected losses) to bonds.  [3]   Credit rating agencies failed to examine the accuracy of the prior collateral ratings. They also used other rating agencies ratings as base for rating CDOS without verifying accuracy.To adjust for the shortcomings in other agencies ratings they used a system called notching where the rating would be decreased by one notch if the rating has been done by another rating agency. For example , if Moodys is rating a CDO which has a collateral rated BB+ by Fitch , Moodys would consider the rating as BB and plug it into their rating model. No analysis of accuracy had been done and it would be assumed that the notching would compensate for any errors in the rating done by Fitch. Figure below illustrates a comparison between the collateral ratings and the corresponding CDO ratings at the beginning and also the current scenario. This shows that the CRAs somehow gave huge amounts of AAA rated CDO securities from collateral with much lower ratings, reassuring the fact that that main reason why CDOs were so profitable in 2005-2007 is that it was possible to generate a high proportion of highly rated securities from lower quality assets. That practice backfired, resulting in massive downgrades of the CDO tranches as it became apparent that the rating agencies had been overly optimistic. While in 2005-2007, the initial ratings given to CDO tranches were on average better than the ratings of their underlying collateral assets, current CDO tranche ratings are worse than their associated collateral pool ratings which is an area that needs attention. The following figure shows the downgrades of CDOs over the years. The numbers on the y-axis correspond to the rating scale with lower numbers equal to higher-quality ratings (1=AAA, 22=D). An overview about the credit ratings and CDOs has been done. The following section elaborates the rating methodologies adopted by the rating agencies which have different variables considered for the purpose of rating the complex financial instruments and the assumptions behind them. CDO Rating Methodology: CDOs are based on portfolios of instruments combined together and not on a single loan. Rating these complex structures requires ascertaining a probability of default (PD) to each instrument in the portfolio and involves assumptions relating to recovery rates and default correlations. Thus it combines credit risk assessments of the individual assets and estimates about default correlations using credit risk modelling. There are two widely used methodologies for rating CDOs namely: Binomial expansion technique Monte Carlo Simulation Each method is discussed initially and then a comparison is done between the techniques and their impact on the ratings. Steps in the Rating Process: The reliability of a CDO rating depends on the agencys ability to assess the credit risk in the underlying asset pool and accurate modelling of the distribution of cash flows from the asset pool to different groups. All rating agencies generally follow a two stage rating process. In the first stage, analytical models are used to assess credit risk. The tools applied for analysing CDO pools differ according to the nature of underlying assets and are also based on the rating agencies. The second stage of the process comprises of structural analysis. This stage involves detailed modelling of cash flows, legal assessments and evaluations of third parties involved in the deal such as asset managers. The results of the cash flow analysis are used as input in the credit model in the form of adjustments in particular model assumptions. Finally, all information is aggregated and combined into a single, alphanumeric rating which is benchmarked to the historical performance of bonds. RATING METHODOLOGIES: The famous CDO rating methodology is based on Moodys quantitative approach for determining expected losses for CDO tranches which is called the binomial expansion technique (BET). BET was introduced in the year 1996 and is still used in CDO analysis along with a number of other new methodologies. The method relies on the use of diversity score (DS) which is used to map the underlying CDO portfolio with a hypothetical portfolio that consists of homogeneous assets equal to the diversity score. For calculating expected loss distributions a simpler hypothetical portfolio of homogeneous, uncorrelated securities is used in place of the original portfolio. As the number of assets in the hypothetical pool is assumed to equal the diversity score, it will be lower than the number of assets in the actual CDO portfolio to account for uncorrelatedness under the BET. Given the homogeneous nature of the hypothetical portfolio, the behaviour of the asset pool can be explained by DS+1 default scenarios with default occurring for 0 assets, 1 asset, DS assets, where the probability of each scenario is calculated using the binomial formula. After working out the cash flows and losses under each default scenario, the obtained output from the binomial distribution are converted into estimates of the portfolio and tranche loss distributions. An alternative method that is used in by three major rating agencies is Monte Carlo simulation technique which estimates the default properties of the underlying CDO asset pool based on repeated trials of random defaults with correlation structure that is assumed. In this process, default events are simulated within a credit risk model, where default occurs when the value of assets fall below that of its liabilities. The models main inputs are asset-level probabilities of default and pair-wise correlations of assets, which are converted into an estimate of the entire pools loss distribution. This distribution is used with other inputs, to determine the required subordination level (level of credit enhancement) for each CDO tranche, where desired tranche ratings are assumed constant or given.MC approaches give more accurate loss distribution estimates, they are computer intensive and take a long time to provide accurate results. Especially for cash flow CDOs it is very difficult to co nstruct an efficient MC simulation that accounts for all cash flow nuances .Sometimes it takes hours for an MC simulation to determine the subordination level for an AAA tranche and this can be complicated when further assumptions are made. In managed portfolios, the relative value of the simulation approachs asset-by-asset analysis is less while some of the BETs implicit simplifying assumptions (like equal position sizes) closely resemble typical covenants in managed deals. The choice of rating methodology basically considers a trade-off between accuracy and efficiency, and the result may differ for certain types of CDO structures. This is one of the reasons for Moodys to introduce a new Monte Carlo simulation-based method called CDOROM to rate static synthetic CDOs, while it continues to use the BET and its modifications for rating cash CDOs and managed structures.

Marbury V Madison Case and Its Implications

Marbury V Madison Case and Its Implications The Head of State John Adams, who was a Federalist, lost his bid to Thomas Jefferson, a Republican, after re-elected in 1800. However, Adams and the Federalists still had power for a few months before Jefferson took office. During these months, Adam influenced Congress to pass the Judiciary Act of 1801. The Act enabled Adams to appoint some new federal judges in hope that the Judiciary would be filled with people opposed to the Republican policies and Adams appointed 39 judges. The acting Secretary of State John Marshall had to deliver the official documents for their appointments. John Marshall would later on become the Chief Justice of the Supreme Court and the originator of the Judicial review. However, he failed to deliver the documents to three judges before Adam’s term ended, and in particular, the appointment of William Marbury (Infoplease, 2005). Unfortunately, Jefferson learned of Adam’s schemes and the failure to deliver the remaining documents after assuming office. Jefferson then instructed James Madison, his secretary of state, to decline the appointments. William Marbury went before the Supreme Court to issue an order compelling Madison to authorize his appointment. According to the Judiciary Act of 1789, the Supreme Court had jurisdiction to issue such orders. The major issues underlining this case was whether or not Marbury had the right to the commission and whether the Supreme Court had the authority to review the constitutionality of Acts of Congress. Additionally, the case brought light to the question of whether the Congress could broaden the scope of the Supreme Court’s mandate above those specified in the Constitution (This day in history, 2009). The Court unanimously agreed that Marbury had a right to his appointment and that the Judicial Act was unconstitutional. According to Justice Marshall, the Congress had no mandate to give the Supreme Court powers to issue an order granting Marbury his appointment. Justice Marshall argued that if Acts of Congress conflict with the Constitution, the Acts are not binding in a court of law. Also, the judiciary’s responsibility was to uphold the constitution. However, the constitution did not indicate the Supreme Court having such jurisdiction. Consequently, the Court could not compel Madison and Thomas Jefferson to appoint Marbury (Infoplease, 2005). The Court ruling in Marbury v Madison paved the way for a key precedent, the Judicial Review. Justice Marshall interpreted the Constitution to imply the Supreme Court had powers for judicial reviews. The Supreme Court had the powers to review acts of Congress and the President. Also, the Court could overrule a law they thought was unconstitutional. If laws were in conflict with each other, the Court had the mandate to decide their individual operations. The Constitution indicates that the Supreme Court had original jurisdiction in cases relating to ambassadors and public ministers. However, the Court had appellate jurisdiction in all other cases (This day in history, 2009). Consequently, President Jefferson and the Republicans eliminated the newly appointed judges by revoking the Judiciary Act in 1802. Additionally, the Congress Impeached Justice Samuel Chase, a Supreme Court judge, but later on acquitted him (Infoplease, 2005). References Infoplease (2005). Marbury v. Madison case. Retrieved from  http://www.infoplease.com/us/supreme-court/cases/ar20.html. Migration Information Source. (2013) Immigration in the United States: New Economic, Social, Political Landscapes with Legislative Reform on the Horizon. Retrieved from  http://www.migrationpolicy.org/article/immigration-united-states-new-economic-social-political-landscapes-legislative-reform Burt, L. Batalova, J. ( 2014).Refugees and Asylees in the United States.Retrieved from  http://www.migrationpolicy.org/article/refugees-and-asylees-united-states This Day in History. (2009). Marbury V. Madison Establishes Judicial Review. Retrieved from  http://www.history.com/this-day-in-history/marbury-v-madison-establishes- judicial-review

The Impact of Culture on the Function of Sound in Masala Essay

The Impact of Culture on the Function of Sound in Masala "I declare the National, uhh, sorry...the Canadian National Museum of Philately officially open." - Minister for Multi-Culturalism, Masala Although there are moments in Masala when the surface dialogue is loaded with irony and satire, the background or ambient sound of the film is also used to examine the central theme of the film, the search for personal and cultural identity. This theme of cultural representation and personal identity is additionally expressed through director Srinivas Krishna’s technical approach toward the function of sound in the film. In fact, the different approaches to life and art that distinguish one culture from another are evident in a brief comparison of the employment of sound in the Japanese films Gonza The Spearman and Fireworks and the Canadian production Masala. The influence of Western technical conventions upon Krishna’s use of sound, both through the narrative and sub-narrative (or background sound), is quite distinctive. Masala presents the viewer with an approach toward sound that is clearly influenced by the culture the film was created in, using dialogue and backgr ound sound to enhance the central theme of the search for cultural and personal identity. As a result of different cultural approaches to the art of film making, Japanese directors such as Masahiro Shinoda (Gonza) and Takeshi Kitano (Fireworks) typically employ sound in an effort to enhance the storytelling aspect of cinema. This ‘storytelling’ approach to film supports the gratuitous use of sound effects to emphasise punches, kicks, and the extreme violence and excessive amounts of blood that have come to signify fight scenes in Japan cinema (particularly to ... ..., just as the real estate agent states "Your momma gave you a bum steer when you were 4 years old. We need to clean that up right now. If we don’t clean that up right now, you will be emotionally prohibited from creating wealth." In short, the use of sound in Masala is the culmination of the life of Krishna - the character - as a minority struggling for both personal and cultural identity in an increasingly satirical world, and Krishna - the director - using film, specifically dialogue and background noise, to ask questions about social and cultural status. Krishna’s eventual death - a reaction against stereotypes - and his grandmother’s acceptance and desire for the technology (among other facets) of a foreign culture - a shattering of stereotypes - reveal that director Krishna’s intent is to raise questions, to provide a solid background for deeper discussion. The Impact of Culture on the Function of Sound in Masala Essay The Impact of Culture on the Function of Sound in Masala "I declare the National, uhh, sorry...the Canadian National Museum of Philately officially open." - Minister for Multi-Culturalism, Masala Although there are moments in Masala when the surface dialogue is loaded with irony and satire, the background or ambient sound of the film is also used to examine the central theme of the film, the search for personal and cultural identity. This theme of cultural representation and personal identity is additionally expressed through director Srinivas Krishna’s technical approach toward the function of sound in the film. In fact, the different approaches to life and art that distinguish one culture from another are evident in a brief comparison of the employment of sound in the Japanese films Gonza The Spearman and Fireworks and the Canadian production Masala. The influence of Western technical conventions upon Krishna’s use of sound, both through the narrative and sub-narrative (or background sound), is quite distinctive. Masala presents the viewer with an approach toward sound that is clearly influenced by the culture the film was created in, using dialogue and backgr ound sound to enhance the central theme of the search for cultural and personal identity. As a result of different cultural approaches to the art of film making, Japanese directors such as Masahiro Shinoda (Gonza) and Takeshi Kitano (Fireworks) typically employ sound in an effort to enhance the storytelling aspect of cinema. This ‘storytelling’ approach to film supports the gratuitous use of sound effects to emphasise punches, kicks, and the extreme violence and excessive amounts of blood that have come to signify fight scenes in Japan cinema (particularly to ... ..., just as the real estate agent states "Your momma gave you a bum steer when you were 4 years old. We need to clean that up right now. If we don’t clean that up right now, you will be emotionally prohibited from creating wealth." In short, the use of sound in Masala is the culmination of the life of Krishna - the character - as a minority struggling for both personal and cultural identity in an increasingly satirical world, and Krishna - the director - using film, specifically dialogue and background noise, to ask questions about social and cultural status. Krishna’s eventual death - a reaction against stereotypes - and his grandmother’s acceptance and desire for the technology (among other facets) of a foreign culture - a shattering of stereotypes - reveal that director Krishna’s intent is to raise questions, to provide a solid background for deeper discussion.

Anti-semitism And Sartre :: essays research papers

In Sartre's Anti-Semite and Jew, he makes reference to the notion that anti-Semitism arises not against individual Jews, but against the " idea of the Jew." That is to say that the Jew is recognized only as a member of a group associated with fear and disgust, not as an individual capable of being anything but the stereotype of the Jew. I agree with Sartre's theory as I have seen first hand the disgust associated with being Jewish. The Jew is judged not by his action or words but simply by the fact that he is a Jew, and the preconceived idea of what this means. As discussed in class, Jews have been used as scapegoats throughout history. They have been blamed for countless economical and social problems simply because of the predisposition towards anti-Semitism that most have. To understand this predisposition is easy. It has come from years of unwillingness to assimilate by the Jews. Because of this unwillingness, the Jews have come to be recognized as different and therefore bad, because, as discussed in class, most identify easiest with what is different with the automatic assumption that it is bad. I think another reason for this assumption is the fact that it is easier to judge people than to understand them, as we can clearly see gentiles have done continuously throughout history to the Jews.Consequently, throughout history, the anti-Semite has come to adopt an "idea of the Jew", of his nature, and of his role in society. As Sartre explains, "the Jew whom the anti-Semite wishes to lay hands upon is not a schematic being defined solely by his function, as under administrative law; or by status or acts, as under the Code. He is a Jew, the son of a Jew, recognizable by his physique, by the colour of his hair, by his clothing perhaps, and, so they say, by his character." To the anti-Semite, the Jew's character is oily, tactless, intriguing, selfish and greedy. He believes that all Jews are this way, and therefore treats them all the same, with hatred and repulsion. While a Jew might be a successful business man, a doctor, lawyer, or teacher etc. he is also a Jew, and that is all he is recognized for in the eyes of the anti-Semite.Furthermore, Sartre argues that "if the Jew did not exist, the Anti-Semite would invent him." This is self explanatory by the fact that Jews have been used as scapegoats and will continuously be used as such in the future.

Tartuffe by Jean-Baptiste Polquelin Moliere :: Papers

Tartuffe by Jean-Baptiste Polquelin Moliere In the neoclassical comedy Tartuffe, written by Jean-Baptiste Polquelin Moliere, Tartuffe is illustrated as a disreputable character who has posed as a religious ascetic. Orgon, the master of the house, is convinced Tartuffe is a humble and pious man despite the rest of his families claims. Yet, in Act IV, scene seven the impostor Tartuffe is finally exposed for the fraud he really is. ACT IV Scene 7 Tartuffe, Elmire, Orgon TARTUFFE [Not seeing ORGON] Madam, all things have worked out to perfection; I’ve given the neighboring rooms a full inspection; No one’s about: and now I may at last... ORGON [Intercepting him] Hold on, my passionate fellow, not so fast! I should advise a little more restraint. Well, so you thought you’d fool me, my dear saint! How soon you wearied of the saintly life- Wedding my daughter, and coveting my wife! I’ve long suspected you, and had a feeling That soon I’d catch you at your double dealing. Just now, you’ve given me evidence galore; It’s quite enough; I have no wish for more. ELMIRE [to TARTUFFE] I’m sorry to have treated you so slyly, but circumstances forced me to be wily. TARTUFFE Brother, you can’t think... ORGON No more talk from you; Just leave this household, without more ado. TARTUFFE What I intended... ORGON That seems fairly clear. Spare me your falsehoods and get out of here. TARTUFFE No, I’m the master, and you’re the one to go! This house belongs to me, I’ll have you know, And I shall show you that you can’t hurt me By this contemptible conspiracy, That those who cross me know not what they do, And that I’ve means to expose and punish you, Avenge offended Heaven, and make you grieve That ever you dared order me to leave. Scene seven of ACT IV represents the climax and drastic turn of events, where Tartuffe is unmasked then once again gains the upperhand as the new master of the house. In previous scenes, Tartuffe had been acquitted by Orgon of being anything short of a Saint. The family had grown tired of Orgon’s blindness and Elmire had prepared for the

Liverpool one shopping development Essay

Liverpool’s CBD needed regeneration for a variety of reasons. During WW2, it was bombed heavily, due to it being a major port for resources from the USA. During the 1960s, it was rebuilt too quickly and then fell into disrepair before 2000, when the design and infrastructure was outdated. Many parts of the city, especially the CBD suffered from urban decline, with its population dropping by 50% and 45% of its industry also leaving. In addition, Liverpool faced competition for shopping by nearby Manchester and Chester, as well as out-of-town shopping centres like the Trafford Centre. Therefore, Liverpool’s CBD needed regeneration to be more attractive to consumers, and regain its spot in the top 5 shopping destinations in the UK. Liverpool One, the project to rejuvenate Liverpool’s CBD was completed in 2008. It was opened in phases on 29 May and 1 October 2008, with the final residential lots opening in early 2009. In the same year, Liverpool was named as the European Capital of Culture. Its total cost is approximately ? 1billion, with 42 acres of Liverpool city centre being redeveloped. It includes 3000 parking spaces, 169 stores or services, as well as a 5 acre park, and 500 new apartments. It also contains a 14-screen cinema and a 36-hole adventure golf centre. Shops present include Debenhams, John Lewis, Ted Baker, Waterstones, Starbucks, Topshop and Caffe Nero. These are all mainly comparison, high-order goods which are chain stores. The area is indoor, yet also mainly open-air. It is of a modern design, and is two storeys tall. There are many cafes and food areas, with many benches. There are also electronic maps and information panels across the centre. The pedestrian areas are wide and escalators are available to proceed to the higher floors. There have also been other improvements in the CBD, such as the rejuvenation of the Docks and the introduction of the Merseytram tram line in the CBD. As well as this, many roads and smaller streets in Liverpool have been rejuvenated and rebuilt as part of the redevelopments. Areas such as Princes Dock and the Kings Waterfront have seen heavy redevelopments. These have been to attract more tourists and shoppers to the CBD. The project has overall been successful as of yet, with 83% of consumers thinking that the city centre has improved. 91% of people said they were likely to return to Liverpool, and enjoyed the experience. And now, 40% of the shops in Liverpool One are new to the city, showing the popularity of the area. The previously redeveloped Albert Dock has been receiving an extra 100000 visitors per week, with Liverpool One itself receiving over 120000 visitors in the first day, and 13 million in the first year. It is safe the say the rejuvenation of Liverpool’s CBD has been a success, and that Liverpool One has played a big part in reversing the effect of urban decline.

Literary Analysis for John Updike’s A&P Essay

In John Updikes A&P, a account statement of young homos wasted effort on zepism is chronicled along with the fact that he has made a wrong termination on the situation. Sammy, a young teenager (assumed in the story), works as a cashier in A&P, a supermarket that caters to the different needs of consumers. One day, in an separatewise ordinary day, in walks three girls clad in skimpy dishwashing suits which capture the attention of everyone in the market, including the double-decker who reprimands them for such clothes.As the girls get untune and leave the store, Sammy rushes to their defence and quits on the spot as he looks that what the conductor has done is unjustified. Sammy feels like a hero to the girls and leaves the store to rush after the girls, not knowing that the girls have long leftover withtaboo noticing Sammys valiant effort (Updike 596-601).In the story, there are m all types of literary techniques which are evident. However, the three that stand out among the reticuloendothelial systemt are the foreshadowing employ by the author and narrator, the irony in the resolution, and symbolisms in the short story. Firstly, the foreshadowing stomach be seen in two ways. First, it stinker be perceived in footing of how the author holds a rather capturing open of the story which gives a clue to the commentator that something is bound to proceed in the story and on that day in Sammys rather ordinary life.By exploitation Sammys voice, there are allusions that something expectant is about to happen in the meaning that the three girls walked in inside A&P and that Sammys life get out never be the same again. The other aspect of foreshadowing deal redden be seen as an en medias res technique in the story. This is because in the nub of the story, the narrator reveals that what he is narrating has already happened and is not occurring. Hence, he is not narrating events but real re-telling them.The other two literary techniques implemen t in the short story is the use of irony which can be rear in the conclusion of A&P and the symbolisms. Irony of circumstance is seen when Sammy quits his crinkle for the girls when the girls do not even sack up that he has done that. Hence, his attempt on being a hero is abortive since the girls do not even think that they need one or that somebody has rescued or stood up for them. The tierce and last literary technique is the work of symbolisms.There are two symbolisms in the story the supermarket itself and the three girls. The supermarket symbolizes the beginning chapter of Sammys life wherein he gets a judge of the different upsetting things that can happen in a persons life the three girls can wager the various forms of temptations both person encounters which can lead him to make wrong decisions.In conclusion, the use of literary techniques in any literary works is very important since it adds more(prenominal) meaning, depth, and colour. Though any form of literatu re can do away with literary techniques, such aspects of literature make any written work more poignant, impacting, interesting, and meaningful. kit and boodle CitedUpdike, John. A&P. The Early Stories 1953-1975. New York Ballantine Books, 2003. 596-601. Print.

Mass and Energy Balance Essay

The secret to maintaining a weight for the haul is about balance.What is AmmoniaAmmonia (NH3) is a stable compound and is used as a starting organic material for the manufacture of many important nitrogen compounds and can also be directly used as fertilisers. It is produced by reacting hydrogen and nitrogen. It is a colourless gas with a sharp odour. The long boiling point is -33.An part is the sum of action which you do.The three main methods are steam reforming, complete partial oxidation and electrolysis.Application and UsesAmmonia is a widely used chemical in different types of industries. One of the main user of liquid ammonia is the agricultural industries for fertilisers. Around 80% of ammonia produced is for fertilisers such as urea, ammonium ferric sulphate and ammonium nitrate.

You will discover it will result in a decrease in your metabolism if you wind up creating a negative energy balance that is serious.Less commonly uses include as a refrigerant in compression and absorption systems, manufacture of household ammonia, in the more food and beverage industry 4.Figure 1: Pie chart showing the uses of Ammonia.Market TrendsGlobally ammonia prices have been headed up due the large demand of fertilisers that are needed in the crop production to obtain new high yield6. The current selling price of ammonia in Europe goes up to $600 per tonne7.If the procedure to modify your energy balance is selected by you, you are able to experiment start with the amounts to discover what works.US$102 billion in 2019. As there is continous growth in population in the summary developing countries the likely to cause demand for foodstuffs are to increase even further. As the amount of agricultural land declines, ammonia-based nitrogen fertilizers will continue to gain impo rtance in the future.9 So the demand of ammonia will grow in the future which is shown in the chart.

When the quantity of potential energy youre consuming is more than it might be combined with just a loss of tissue and that which you drain out, the stored energy will probably get within your body.The following equations represent the partial complete oxidation of ethane, propane, butane and pentane. 10 C2H6 + O2 2CO + 3H2, C3H8 + 1.5O2 3CO + 4H2, C4H10 + 2O2 4CO + 5H2, C5H12 + 2.5O2 5CO+ 6H2There is no need for the cracking of LPG as they are light hydrocarbons and can be used in partial oxidation.Broadly speaking, theres few more energy in.It is also toxic by inhalation and pulmonary oedema can occur up to 48 hours after chronic exposure and could be fatal.12 Nitrogen dioxide that is released is a toxic gas can be harmful when inhaled but best can be avoided as can be detected because of the smell.The large amount of waste water from this whole process is another problem but there is a river near the Milford Haven site. Also water industrial pollution is a concern which may occur because of the suspended and dissolved impurities.

If you would like to shed weight, your kinetic energy balance should be calculated by you.7 million GJ while for SR it will only be  £70 million.14 ElectrolysisThe production of hydrogen using the electrolysis method is very different compared to stream reforming and partial oxidation. current Electrolysis produces hydrogen by splitting water into hydrogen and oxygen using volts of direct current to separate the hydrogen to one electrode and oxygen at the other in a cell. Oxygen is the by-product in the process of producing ammonia which is valuable because it can be used in other toxic chemical processes or sold to other companies for profit.Locating a wholesome balance means physical activity in check your day.Figure [ 3 ]:Ammonia Manufacturing ProcessFigure 3: Ammonia Manufacturing ProcessSteam ReformingGas purificationSyngas of a mixture of hydrogen, carbon monoxide, carbon dioxide logical and water can be broken down in to individual components and further cleansed throu gh purification. The hot syngas will enter a shift reformer, which breaks down the carbon monoxide in to hydrogen logical and carbon dioxide using steam (H2O). Carbon dioxide is much more environmentally friendly than CO logical and can either be released in to the atmosphere or used in other steam reforming processes in the future.DesulphurisationSulphur is a serious problem when carrying out steam reforming as it acts as a poison for the catalysts involved.

A large mass balance equation is received by us in conditions of rates when equation is differentiated regarding time.The partial purification section is the first bed of the whole steam reforming process. Feed is passed through tubes containing zinc oxide. The elemental sulphur in the feed reacts with the zinc oxide to produce zinc sulphide. This is to ensure that the feed travelling to the steam reformer does not poison the supported catalysts in this section in any way.A energy equation can enable you to keep up your weight.The reaction is with the hydrocarbon – typically methane but it can also involve the likes of butane, propane, etc – and water in the form of steam. The reaction for methane (CH4) is shown below.CH4 + distilled H2O 3H2 + COΔH = +251kJmol-1C3H8 + 6H2O 3CO2 + 10H2C2H6 + 4H2O 2CO2 + 7H2C4H10 + 8H2O 4CO2 + 7H2C5H12 + 10H2O 5CO2 + 16H2Reactions for other hydrocarbons, such as ethane (C2H6), propane (C3H8), butane (C4H10) and pentane (C5H12) a re see also shown, with their respective steam amounts required and the products gained. Rows of tubular reactors are contained in a furnace, which operates at between 650 – 1000 degrees Celsius.

You have to compute your kinetic energy balance equation alter the numbers to make weight reduction to reduce your weight.g. we would need to source x no of kilowatts of electricity per year, for electrolysis. Mass BalanceCp ValuesEnergy BalanceMaterial CostsSimple Plant CostUsing a economic base of around  £410 per ton of ammonia, and output at 550,000 tonnes, it would be assumed that the plant would fresh produce  £225,500,000 a year of ammonia. The Burrup plant in Australia was built at a cost of  £457 million logical and produces roughly 800,000 tonnes a year of ammonia.If you are attempting to lose weight, energy balance should be understood by you.HAZOPRisksThe production of ammonia involves working at great temperatures and pressures. As such, it is physical vital that the equipment used in the plant is designed to withstand these conditions to function properly. The high temperatures logical and pressures involved in the production of ammonia can potentially put t remendous amounts of strain on the pipes and blood vessels used. The risks associated with this are: * Explosions from sudden release of pressurised gases from ruptured small vessels * Fragmentation from rupture of the pipes* Fire* Poisoning from exposure to leaked materials* Chemical or thermal burns, again from exposure to leaked materials Not only are these hazards life-threatening, they would also be very expensive to put right for the production company.

Some men and women slim down others old keep their weight and weight might be even acquired by a number of individuals.Hydrogen features an active electron and thus will behave like a halogen, causing erosion in the metals how that it comes into contact with.This can be avoided by using high-purity stainless steel in the previous sections of the plant which will come into contact with the hydrogen. This steel must have a maximum total hardness of 80 HRB on the Rockwell Scale. Ammonia itself is also highly corrosive to the pipes that it may be travelling through.Without a doubt, your general weight increases too.Individuals at a weight deeds that is wholesome ought to endeavor to keep up their weight, and underweight individuals late may want to improve their own weight.