Bubbles by Chris Martenson Essay Example | Topics and Well Written Essays - 500 words

Air pockets by Chris Martenson - Essay Example The 2007 lodging bubble is an ongoing case of an air pocket that has influenced the American economy and the remainder of the world. The creator has indicated that in spite of the fact that the air pocket began route in 1998, it was still never halted. As the creator describes, bubbles have their way around with the individuals. At the end of the day, individuals consistently will in general get fooled into accepting that things will be unique. In view of the video, clearly air pockets can be maintained a strategic distance from if individuals quit being guided by the bogus dream that â€Å"this time, things will be different.† likewise, in the United States, the Federal Reserve bombed in its obligation to secure general society against the lodging bubble. In any event, when the indications of the air pocket began to appear, the Federal Reserve kept on bringing down loan costs. It was somewhat utilizing explores to persuade the open that the lodging was not going to make a ben efit bubble. From this, the video focuses to the significance of having a compelling national bank framework in forestalling such monetary calamities. In the United States, the Federal Reserve neglected to follow up on the issue before it turned out to be too big. Finally, the video shows that an advantage bubble is only a pointer of a more concerning issue. The lodging bubble was only a pointer of expanded getting. There was an expansion paying off debtors from $27 trillion of every 2000 to $48 trillion of every 2007. This shows how resource bubbles influence different segments of the economy. What's more, bubbles are damaging in light of the fact that individuals/associations will in general make an inappropriate ventures.

BIET 336 (Individual recommendation report) Essay

BIET 336 (Individual suggestion report) - Essay Example This report involves conversations on the strategies that crooks use during vehicle robbery; with two proposals on relieving the episode. Taking vehicles has just negative impacts in USA; and lawbreakers utilize different taking strategies. The Carjacking practice involves taking vehicles through power. Carjacking is intense on the grounds that the vehicle proprietors are for the most part ambushed. Carjacking involves hoodlums heading out the vehicle, in the wake of driving the travelers or administrators from the vehicle. Car burglary additionally includes false robbery. This involves the unlawful securing of vehicles from the proprietor or vender, by fake supports move. Most vehicles obtained through this unlawful strategy are quickly exchanged from that point (Lesikar 346). The table beneath delineates vehicle burglary expanding insights in the USA. Lawbreakers utilize different types of gear during vehicle robbery. Weapons like guns or blade are generally applied during carjacking frequencies. The weapons are utilized to break vehicle windows or compromise the vehicle proprietor. Save wires and screw drivers are utilized for interfacing the start and the force source during vehicle robbery. This force association empowers the lawbreakers to drive away the vehicles. In the 2012 and 2013 investigation of vehicle burglary figures by the National Automobile Club; there are urban areas with diminished vehicle robbery rates (Los Angeles, and San Diego). This has been made conceivable through ordinary police watches in the urban areas. Police on the lookout are answerable for leading irregular keeps an eye on vehicles. Different urban areas have noteworthy increment in vehicle burglary rates (New York and Dallas). This is ascribed to expanded false vehicle burglary in influenced urban communities. The crooks gain the vehicles through unlawful techniques. There are huge contrasts among expanded and diminished vehicle robbery rates. This is on the grounds that the two arrangements of influenced urban areas utilize various systems in controling the vehicle robbery practice; urban communities which utilize successful techniques like

Estimate Design Flood Discharges For The Back Creek Streamgauge Site Assignment

Estimate Design Flood Discharges For The Back Creek Streamgauge Site Assignment Estimate Design Flood Discharges For The Back Creek Streamgauge Site â€" Assignment Example > AbstractThis paper describes the estimation of design flood discharge for the Back Creek stream gauge site known as BEECHMONT (DNRM). The design flood discharge has been estimated for the Back stream gauge site using the hydro meteorological approach. The paper also analyses the stream gauge frequencies and applies the empirical formula in drawing conclusions. The flood frequency analysis has been based on consideration of outputs of four techniques namely: Annual series, Partial series, the palmen and the week’s method and the new regional flood frequency estimation (RFFE) developed as part of AR and R update (Palmen, 2011). The work involved obtaining and reviewing stream flow data from Queensland DNRM water Monitoring portal (http: //water-monitoring. Information. qld. gov. au/), annual series FFA based on fitting a log person 3 (LP3) distribution to a yearly discharge maximum value, planning of the catchment area as well as the calculation of its area. Also, a compilation of estimates and selection of a set of design flood discharges and assessment of the rainfall frequency related to the January 2008 flood discharges event. IntroductionA flood in the context of this paper is considered to be an unusually high stage of a river. Floods are categorized into three broad categories: Minor floods, moderate floods, and major floods. Minor floods because some slight levels of erosion but normally no major damages are experienced. Moderate floods cause damages to the nearby properties though they are not very massive. Major floods are naturally serious as they cause a threat to human life and destroy properties in huge figures (Riggs, 1973). Floods occur in flood plains along rivers when water in the rivers fills up the stream hence bursting and spilling over to the nearest flood plains. Hydraulic structures are usually raised to prevent damages caused by floods. When laying these structures, due considerations need to be taken into account because these str uctures are susceptible to collapsing due to pressure mounted by the floods. If the hydraulic structures are poorly designed and implemented, more damages are caused to the surrounding environment and properties. Certainly, when floods are harnessed at location, it accumulates, and potential energy builds up in the form of pressure which can cause massive damages in case of collapsing. Due to the probable damages that can be caused by these hydraulic structures, estimates of extreme flood flow are very critical. Estimates of extreme flood flow are also used by engineers when choosing the quality of hydraulic structure to be constructed. The selection of the hydraulic structure will also be determined by the availability of resources such as finances. Design flood is defined as the flood adopted for the design of hydraulic structures. Design flood takes into consideration two types of data: the entire flood hydrograph or the peak discharge of the flood hydrograph. This work takes i nto account the latter case for simplicity. This work considers a Weir as the key hydraulics structure Analyzing flood recurrenceRecurrence interval can be defined as the average time length that separates two flood events. The reciprocal of flood recurrence is the probability that the flood will occur during a one year period. Stream gauges provide continuous records of discharge at fixed stations along a river. The largest event in a given year is called the annual peak discharge (Palmen, 2011). The analysis of flood recurrence used in this exercise has utilized a data set comprising of annual peak discharges for N consecutive years. The recurrence interval for each event in the data set has been being computed using the Weibull equation,

Science and morality - 1323 Words

Progression is a natural occurrence in human life as well as society. Natural curiosity, coupled with a desire for self improvement, has propelled mankind into the age of science and technology. As society progresses, so, too, does human life continue to advance and improve. Medical advances have allowed humans to overcome disease and illness, and ultimately prolog human life. For example, the success of stem cell research has granted doctors the resources to replace damaged cells and begin to repair severe injuries. The amount of scientific progress making its way into society is astounding. However, eventually the question emerges, how far should these advancements be allowed to continue? And at what point do humans bypass medical need†¦show more content†¦There is no doubt that with scientific advancement comes risk for immorality and exploitation. So the question remains, is scientific development worth the risk? The practice of curing disease and ridding humans of illne ss can be considered a perversion of nature. However, while the ability to alter humans may seem unnatural, it stems from a very human instinct. The factor that sets acceptable medical science apart is the motivation behind its continuation. The desire to keep humans healthy, happy, and alive is the general driving force behind society’s adoption of scientific development. The basic desire to preserve life fuels the science that allows humans to continue gaining new knowledge about medicine and technology. Therefore, humans can begin to judge what crosses the line of morality by examining the motivations behind certain research. Advancements, such as cloning, that interfere with nature for no other purpose than to fulfill a morbid curiosity hold little place in society. In Gulliver’s Travels, the scientists Swift describes at the Academy have no regard for human life. They conduct experiments with little practical purpose in order to satisfy their own interests. This l ack of respect for scientific development and its implications marks a danger for society. Such indifference to the repercussions of scientific experiment will lead to an abuse of power, because without aShow MoreRelatedThe Physics Of Science And Morality1271 Words   |  6 PagesOn the topic of science and morality, both have varying definitions that bring into question of how they relate to one another. Although some seem to pit the two against each other as opposing arguments, many versions of these definitions allow one to draw lines between the two, ultimately allowing for the conclusion that they have a connection. Science and morality resemble each other because both collect and organize data, derive from observation of the direct world, and make use of data to drawRead MoreScience Is The Mystery And Morality Of Human Existence968 Words   |  4 PagesScience has given us lot of great toys to make our everyday work easier and more efficient. But still, science could not pro vide us with a peace of mind. Scientific analysis has undermined the mystery and morality of human existence. On the other hand, art and religion inspires people. It gives people joy and a purpose to life. This has been the main argument of the given passage. The main theme of this passage is that science has destroyed the unity between man and the numinous. According to theRead MoreCan Science Explain And Account For Human Morality?1011 Words   |  5 PagesCan Science Explain and account for Human Morality? Introduction Morality has long since been a topic of debate, with hundreds of branches to the ever-expanding argument. One area of debate is that of science’s power to explain and account for the history of Human morality. In the question: â€Å"Can Science Explain and Account for Human Morality?† we also have another question: â€Å"Is the foundation of morality natural, or supernatural?†. In this question, there is a dichotomy between the origin of moralityRead MoreEssay on Science, Technology, and Morality in Shelleys Frankenstein1098 Words   |  5 Pages Frankenstein and Sciencenbsp;nbsp; Science is the knowledge gained by a systematic study, knowledge which then becomes facts or principles. In the systematic study; the first step is observation, the second step hypothesis, the third step experimentation to test the hypothesis, and lastly the conclusion whether or not the hypothesis holds true. These steps have been ingrained into every student of science, as the basic pathway to scientific discovery. This pathway holds not decision as toRead More Science, Morality and Responsibility in Mary Shelleys Frankenstein1999 Words   |  8 PagesScience vs. Morality and Responsibility in Frankenstein The most frightening horror story can only be called such if it is believable. Nothing is so unnerving as lying awake at night with very real fears. No monster can harm you, unless the monster was genetically engineered by a mad scientist. The theme of Mary Shelleys Frankenstein - scientific investigation without consideration of morality and responsibility - is a very relevant topic in todays world. This theme, along with the less obviousRead More Science, Technology, and Morality as Perceived in Mary Shelleys Frankenstein1967 Words   |  8 Pagesnovel illustrates both the potential dangers of these exploits and the irony of the conflicts between science and creationism.   Ã‚  Ã‚  Ã‚   Prior to the birth of the story, Mary Shelley had begun to learn of advancements and speculation in the scientific world of the early nineteenth century; in Frankensteins introduction, editor M. K. Joseph asserts that Mary Shelley wrote in the infancy of modern science, when its enormous possibilities were just beginning to be seen (xii). Interest in electricity,Read MoreConfucianism Is A Comprehensive System Of Thought And Behavior Encompassing Religion, Philosophy, Morality, And Political Science1441 Words   |  6 PagesConfucianism is a â€Å"comprehensive system of thought and behaviour encompassing religion, philosophy, morality, and political science.† Its teachings have shaped the political and social development of China for hundreds of years, and leaves its mark in ancient history. Confucius’s teachings dealt mainly with personal and political morality - he taught what it meant to be a just ruler and a man of principles and honour. His teach ings sought to restore the Mandate of Heaven to the rulers in order forRead MoreLevel Of Morality And Opinion On Marijuana1164 Words   |  5 PagesLevel of Morality and Opinion on Marijuana There is constant argument over what is morally appropriate and what is not. Each individual carries a different set of values and their opinions on what follows the moral code will vary. A lengthy debate continues over the legalization of marijuana, whether it is truly affective from a medical standpoint and morally right to use in a recreational situation. Although there is extensive research on the power of cannabis, it is overshadowed by its negativeRead MoreMorality And Religion : Morality985 Words   |  4 PagesMorality and Religion: a Response to Does Morality Need Religion (Prompt 1) Some people believe our life is based off of morals, a belief of right/justification or wrong/ unjust. Living this way perceives their ways of the world by doing what they feel is good or bad or what is lead by their conscience regardless of religion. Others believe in religion, a feeling or act of faith, from God or â€Å"gods† ( Merriam-Webster). These acts motivated by faith and God/ â€Å"gods† provide a comprehension betweenRead MoreMovie Analysis : The Geek, Society And Breaks Stereotypes1162 Words   |  5 Pagesheavily stresses the importance of morality while promoting a revamped field of the sciences. Although at times very science-centered, the movie sneakily weaves traces of philosophy into the plot as well. With that said, it seems to me that Real Genius and the lecture on the Two Cultures have much more in common than meets the eye. The underlying theme of morality drives the plot of Real Genius. Throughout the film, there are numerous scenes that address the morality of the different characters. Not

Sentencing Guidelines For Crack And Powder Cocaine

Memorandum To: Robin Hudson, Justice, Supreme Court of North Carolina From: James McLean, District Attorney, 14th Judicial District, Durham County Subject: Seeking Equality in Sentencing Guidelines for Crack and Powder Cocaine Date: October 17, 2014 Most of us would agree that drug abuse and addiction is no respecter of persons. Regardless of age, race, gender, or economic status drug addiction can rear its ugly head in any situation. Like most Americans, I have personally been affected by the pitfalls of drug addiction from relatives and friends. Therefore, I have witnessed firsthand the devastation that it leaves on family members, friends, and the communities, in which they reside. Since its inception in 1986 the Anti-Drug Abuse Act, as caused more harm than good. At the start of this Act, Congress implemented maximum drug quantities initially targeted at â€Å"serious† and â€Å"major† drug traffickers. Congress concluded that 500 grams of powder cocaine would trigger a five-year mandatory minimum, and five kilograms would trigger a ten-year mandatory minimum. However, for crack cocaine the triggering quantities were significantly less. Only five grams of crack cocaine would prompt five-years and just fifty gr ams to prompt a ten-year sentence. This massive gap became known as the 100-to-1 sentencing disparity. Soon after several states began to legislate sentencing disparities between powder cocaine and crack cocaine into their criminal codes. The original targets ofShow MoreRelatedMandatory Minimum Sentencing Guidelines And Guidelines942 Words   |  4 Pagesmandatory minimum sentencing. The Committee decided the guidelines would be set the levels in the Drug Quantity Table (Hinojosa 1998). This would be done to create a set standard for levels 26 and 32. see table 1 {Table 1 About Here} These levels would work along with a standard set of program ranges that are above the statutory mandatory minimum sentencing laws (Weld 1986). Congress was not in favor of the sentencing table and told the USSC to prepare to research and present their findingsRead MoreThe Drug Enforcement Agency ( Dea )1574 Words   |  7 Pagesquantities for crack cocaine which triggered the five and ten year mandatory minimum jail sentence for crack cocaine. This created a conflict with the ratio from crack to powder cocaine because it was 100:1 meaning a person caught with crack cocaine would be more likely to serve longer jail time than a person caught with powder cocaine. The unfair ratio would get a person caught with 5 grams of crack cocaine the same amount of jail time as a person who is caught with 28 grams of powder cocaine. An issueRead MoreClassical Perspective And Mandatory Sentencing Act837 Words   |  4 PagesClassical Perspective and Mandatory Sentencing Act The classical perspective founded by Cesare Beccaria and Jeremy Bentham; stated that at people choose to commit crime after they considered the pros and cons that could be associated with a crime, and believed that the pros outweighed the cons (Tonry,2014). The theory relied on deterring criminal acts by assuring that the consequences of crime are absolute, harsh, and quickly administered (Tonry,2014). Mandatory Sentencing Act Today, more than 2 millionRead MoreThe Sentencing Policies For Crimes1357 Words   |  6 PagesWhen America changed the sentencing policies for crimes, primarily drug crimes, in America, the effect this change would have in the poor communities were impossible to imagine. The policies which were changed to get tougher on drug crimes on the federal level followed with mass incarceration in the prison system. This was especially true with young African American males in largely poor communities. So these policies not only created a mass incarceration but also racially targeted certain raceRead MoreThe Severity Of Sentencing Guidelines3082 Words   |  13 Pages The Severity of Sentencing Guidelines in Relation to the Type of Drug By: Sunday Saenz FRNS 5653 Oklahoma State University Center for Health Sciences May 1, 2015 â€Æ' Introduction An illicit drug is actually just a drug that is being abused illegally. A few examples of some commonly heard of illicit drugs are cocaine, methamphetamine, and marijuana. However, not every illicit drug is actually illegal to possess. Prescription drugs, such as hydrocodone, oxycodone, and morphine are oftenRead MoreRape And Burglary As A Post Incarceration Supervision1730 Words   |  7 Pagesand burglary as strikes for purposes of imposing a life sentence without parole (Sutton, 2013). Mandatory minimums take away the discretion of the judge in sentencing. These officials are bound by statute to place offenders behind bars. Because these statutes are put into place, the judge is not allowed to hand down alternative punishments, nor do they give them the opportunity to prescribe treatment or a change to rehabilitate. Such laws also hold racial discriminatory factors (USSC, 2011). DeterminateRead MoreThe Federal Sentencing Guidelines Adopted1266 Words   |  6 Pagesthe high incarceration rates connected to cocaine sentences. This situation can be connected to the sentences that treat crack violations more harshly than those associated with powder cocaine. It is important to examine in the histories of this hostile guidelines in order to understand how they invited so much criticism, why they were so controversial, why they were so resistant to change, and how nonetheless occurred. The Federal Sentencing guidelines adopted in the United States in 1986 haveRead MoreImpact of Sentencing Guidelines2422 Words   |  10 PagesHead: THE IMPACT OF SENTENCING GUIDELINES The Impact of Sentencing Guidelines on the Criminal Justice System Talisha L Alexander Survey of Public Safety Issues, Theory, and Concepts Abstract Our criminal-justice system has an obligation to impose just sentences. The United States Sentencing Commission is the result of the Sentencing Reform Act of 1984, part of the Comprehensive Crime Control Act of 1984, which sought to change the federal criminal sentencing policy and practiceRead Moremandatory minimum sentence1364 Words   |  6 Pagesmay object to the sentence†. These mandatory sentencing laws however vary from state to state, and in other countries. In 1994 California introduced a policy called â€Å"3 strikes you’re out†, which meant after a third criminal conviction the arrested person would be sentenced to life in prison (Friedman 109). Soon after California enacted its policy, other states and countries also adopted similar policies. Since then other forms of mandatory sentencing have been established for example, in BritainRead MoreThe War On Drugs And Its Impact On The United States1396 Words   |  6 PagesThe current policy in use by the United States concerning illegal drugs is both outdated and unfair. This so-called war on drugs is a deeply rooted campaign of prohibition and unfair sentencing that is very controversial and has been debated for many years. The war on drugs is designed so that it will never end. This current drug was has very little impact on the overall supply of prohibited drugs and its impact on demand seems non-existent. United States’ taxpayers are spending billions of dollars

Ielts Task Free Essays

www. ieltsbuddy. com – Free online IELTS Advice IELTS Sample Essay – Alternative Medicine This IELTS sample essay tackles the subject of alternative medicine. We will write a custom essay sample on Ielts Task or any similar topic only for you Order Now When you are asked whether you agree (or disagree), you can look at both sides of the argument if you want. This shows that you have good academic skills as you are able to see both sides of the issue. It can also sometimes be a good idea to look at both sides of the argument because it may be easier for you to brainstorm ideas. If you just look at one side, you may run out of ideas. If you look at both, then there are more ideas to discuss. In this IELTS sample essay, the writer disagrees overall with the opinion presented – that alternative medicine is ineffective and possibly dangerous. However, in the first body paragraph the writer discusses what those who agree with this opinion think. In the second body paragraph the writer then gives the reasons why he/she disagrees. In other words: Body 1 = the disadvantages of alternative medicine Body 2 = the advantages of alternative medicine It is then a good balanced conclusion as the writer states that they are best used together. Question: You should spend about 40 minutes on this task. Present a written argument to an educated reader with no specialist knowledge of the following topic. Currently there is a trend towards the use of alternative forms of medicine. However, at best these methods are ineffective, and at worst they may be dangerous. To what extent do you agree with this statement? Give reasons for your answer and include any relevant examples from your own experience or knowledge. You should write at least 250 words. www. ieltsbuddy. com – Free online IELTS Advice www. ieltsbuddy. om – Free online IELTS Advice IELTS Sample Essay Model Answer Alternative medicine is not new. It is accepted that it pre-dates conventional medicine and it is still used by many people all over the world. I am unconvinced that it is dangerous, and feel that both alternative and conventional medicine can be useful. There are several reasons why the conventional medical community is often dismissive of alternatives. F irstly, there has been little scientific research into such medicine, so there is a scarcity of evidence to support the claims of their supporters. Furthermore, people often try such treatment because of recommendations from friends, and therefore come to the therapist with a very positive attitude, which may be part of the reason for the cure. Moreover, these therapies are usually only useful for long-term, chronic conditions. Acute medical problems, such as accidental injury, often require more conventional methods. On the other hand, there remain strong arguments for the use of alternatives. Despite the lack of scientific proof, there is a lot of anecdotal evidence to suggest that these therapies work. In addition, far from being dangerous, they often have few or no side effects, so the worst outcome would be no change. One of the strongest arguments for the effectiveness of alternative therapies in the West is that, whilst conventional medicine is available without charge, many people are prepared to pay considerable sums for alternatives. If they were totally unhelpful, it would be surprising if this continued. I strongly believe that conventional medicine and alternative therapies can and should coexist. They have different strengths, and can both be used effectively to target particular medical problems. The best situation would be for alternative therapies to be used to support and complement conventional medicine. (280 words) Comments The writer in this IELTS sample essay introduces the topic in the introductory paragraph (Alternative medicine†¦ ) and puts forward a clear view on the issue (I am unconvinced†¦ and feel†¦ ). The essay has a well-balanced argument looking at both sides of the issue. The first body paragraph expresses some doubt about alternative therapies (†¦ ittle scientific research.. .only useful for long term†¦ ), but in the second body paragraph the writer takes a different view (On the other hand†¦ ) and examines the benefits (†¦ few side effects). The writer’s concluding paragraph offers a strong opinion (I strongly believe†¦ ) and sums up the fact that both types of treatment are valid today. There is also a good range of grammatical structures (If they were totally unhelpful, it would be†¦ ), and connectors (despite the fact, in addition, finally). www. ieltsbuddy. com – Free online IELTS Advice How to cite Ielts Task, Papers

Invincible free essay sample

Ten minutes into the game, a piercing scream filled the air. It was my scream. I have never felt this type of vulnerability. In front of hundreds of people, I laid in the grass, whimpering. I don’t consider myself a weak person, but that moment broke me. â€Å"Miss, you’re going to be okay, hang in there,† said Meg. I could barely hear my teammates as my screams pierced the air. â€Å"Meg, I can’t move it!† I couldn’t help but yell. Soccer makes me, me. It puts me at ease, makes me excited, and gives me an intense determination I carry into my life outside of soccer. The deltoid ligament, the thickest ligament in your ankle†¦ I tore that? When the doctor told me I couldn’t play soccer for two months, I cried. This would be my last upcoming club season because I was U-18 now. By the time I get back, I won’t be at the same level as my teammates. We will write a custom essay sample on Invincible or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What if I’m not ready for my last State Cup? My next step was physical therapy. Eight weeks. This was something I’ve never done before, including new places, new people, new schedule. Before I knew it, it was my fifth week and I had already achieved my eight week goals. I told my therapist I wasn’t done and that I needed new goals—much harder ones. State Cup came quickly after I finished my physical therapy. I was fully recovered to play and I was ready to help lead my team to victory. I have never been more determined in my life. Soccer brings out my competitive, determined, and hard working characteristics. It was at that moment when I stepped onto the field at State Cup, that I knew if I put my whole self into something, I am invincible.

Brand and Product Management

Introduction According to Naik, Prasad, and Sethi (2008), brand management is an important concept especially when it is applied in the management of fast moving consumer goods. This paper discusses brand management in the fast moving consumer goods within the Australian market.Advertising We will write a custom essay sample on Brand and Product Management specifically for you for only $16.05 $11/page Learn More The paper reports on brand management exercises of two brands from a single category of fast moving consumer goods within the Australian market – foods and beverages. These brands are the P and N beverages and Schweppes. Importance of brand awareness for FMCGs Amidst competition that prevails in most industries today, brand awareness remains the key to the positioning of products in markets (Nijssen, 1999). Brand management in fast moving goods is an important subject. This is because fast moving goods have low profits, and thus they have to be sold in big quantities. In addition, most of the fast moving goods are perishable and have to be marketed fast enough. There are many companies around the world manufacturing and distributing fast moving consumer goods (FMCGs). This means that competition in the fast moving consumer goods market is very high. Companies dealing in FMCGs are forced to develop strong brands so as to gain strong grounds and position in the market. Companies dealing in the manufacture of perishable goods have to be more proactive in ensuring that the goods that are processed move fast on stocks. This is done to avoid losses that often arise from the expiry of the goods before they are sold (Keller, 2003). According to Nijssen (1999), brand awareness levels of the fast moving goods ensure that they are quickly purchased in the market. One of the core tasks of brand managers is to ensure that they create sufficient awareness of products in the market. Brand awareness can easily culminate into brand l oyalty. Brand awareness is created through an array of activities among them brand salience (Romaniuk and Sharp, 2004). Research reveals that marketing managers are striving to raise product knowledge amongst customers.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This resonates from the fact that brand awareness helps in ensuring that a firm attains and retains customers hence remaining more competitive in the market. The quicker the brand awareness is executed for FMCGs, the higher the chances of the goods of a firm to attain significant sales in the market. Breadth and depth of brand awareness for P and N beverages and Supreme foods P and N beverages are some of the most known brands in Australia dealing in the manufacture of beverages and other soft drinks in Australia. These brands face stiff competition from top beverage and soft drink companies in Australia that have stronger and more dominant brands in the market. On the other hand, there is a brand within the beverage industry of Australia that has been in existence for a very long time. This brand is called Schweppes and is manufactured by Asahi Breweries. This is the company that is synonymous with most Australians as compared to P and N beverages. Schweppes is a strong brand in the Australian market because of various factors that have promoted its awareness and loyalty amongst Australian Consumers. Brand awareness of any product in the market is built and supported by many factors including the existence and long periods of consumption of a product. Other factors for emergent brands in the market are depended on how the brand is managed through the creation of brand awareness and brand salience. For FMCGs, brand management has to be taken with more seriousness. This is because of the cut throat competition that exists in industries dealing in such goods. Strong brands are often developed over long peri ods and is accompanied by the continued use of products. This leads to the development of strong tastes and preferences for the product (Driesener and Romaniuk, 2006). The breadth and strength of Schweppes brand in the FMCGs market of Australia Schweppes is one of the widely consumed beverages in Australia since it is one of the highly positioned brands in the Australian market. Having stayed in the market for a long time, Schweppes has developed a strong brand in Australian market. Accessibility and prominence, which are key components of brand salience, are argued to have favoured the development and prevailing strength of the Schweppes brand in Australia.Advertising We will write a custom essay sample on Brand and Product Management specifically for you for only $16.05 $11/page Learn More As one of the oldest brands to enter the market, it was easy to develop brand salience for the Schweppes brand in the country. One of the supportive factors for thi s was the ease of access in the market due to the absence of or minimal competition in the market. Market access is one of the precursors of forming a strong force in familiarizing a brand within the market. With less competition and a minimal number of competitor products within the market, it becomes quite easy to introduce and penetrate a brand in the market. This case can be attributed to Schweppes. The prominence of this brand was built through the name that was very appealing to consumers from the early times of the inception of the brand (Pride, 2011). According to Driesener and Romaniuk (2006), marketing researchers ascertain that brands are built using different product aspects. Product name is just one of these aspects. The brand took the long-term prominence path by adopting modern brand building practices. This was after the company had attained the short-term prominence. These practices have been substantial in maintaining the competitive advantage hence retaining the s trength of the brand in the Australian market and beyond. Brand diversification was borrowed into Schweppes by developing different tasted of the Schweppes brand to ensure a stronger presence in the market. The tasted of this product have been diversified to cater for the differing tastes of consumers in the market. There are pure drinks and creams with different tastes like lemon among many other tastes. There is also lot of diversity in terms of packaging the product, which catches the attention and taste of consumers. The firm has also adopted modern marketing practices such as the use of the social media. This helps in the creation of strong consumer communities for the product that adds the number of customers. Social media help in the creation of consumer awareness through forums that help in addressing the concern of customers. The brand has gained access into the global market, which is a pointer to the quality and the strength of the brand (Schweppes Australia, 2012). The b readth and strength of P and N beverages in the Australian market As compared to Schweppes, P and N brands are considered to be weaker brands in the Australian market. Brands that are produced by P and N include mineral waters, fruit juices, and soft drinks. The company has not stayed in the market for a very long time.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is in comparison with other beverage companies and brands that came into the Australian market much earlier like Schweppes and Coca-Cola. The companies that came into the market earlier were able to establish dominant brands that are not easily beatable by P and N beverage brands (Romaniuk, Sharp and Ehrenberg, 2007). P and N was established in the year 1990 compared to Schweppes brands that have been in the market since 1950s. However, P and N brands have managed to attain competitiveness because of the emphasis on brand building. This has seen its brand remain competitive and even pose a challenge to the brands like Schweppes, which have been dominating the market for a long time. With a lot of advertising and promotional campaigns, a high level of brand awareness has been created about the products helping them to gain many customers in the market (Australian Exporters Directory, 2012). Advertising is one of the best methods of capturing the attention of customers hence posi tioning a brand in the market. Aggressiveness in advertising helps in hastening the rate at which customers gain awareness and attachment to the products or brands in the market. In addition, diversity has been used in factoring in the tastes of consumers. There are diverse products within the P and N products. This ensures that customers get what they want in a single brand. This helps in keeping customers hence building the brand further (Pieters, Warlop and Wedel, 2002). Conclusion Brand management is one of the activities that are given more attention by firms because it helps in building brands hence enhancing marketing. Branding is an expensive affair to gain. However, once established, it becomes easy to maintain brands in the market. Schweppes brand and P and N brands in Australia have been built through the adoption of aggressive branding strategies. Reference List Australian Exporters Directory, 2012, P N Beverages Australia Pty Ltd, viewed on http://www.australianexporte rs.net/companyID4967.htm Driesener, C and Romaniuk, J., 2006, â€Å"Comparing methods of brand image measurement,† International Journal of Market Research, vol. 48, no. 6, pp. 681-698. Keller, KL 2003, â€Å"Brand Synthesis: The Multidimensionality of Brand Knowledge,† Journal of Consumer Research, vol. 9, no. 4, pp. 595-600. Naik, PA, Prasad, A and Sethi, SP 2008, â€Å"Building Brand Awareness in Dynamic Oligopoly Markets,† Management Science, vol. 54, no. 1, pp. 129-138. Nijssen, EJ 1999, â€Å"Success factors of line extensions of fast-moving consumer goods,† European Journal of Marketing, vol. 33, no. 5/6, pp. 450-474. Pieters, R, Warlop, L and Wedel, M 2002, â€Å"Breaking through the clutter: Benefits of advertisement originality and familiarity for brand attention and memory,† Management Science, vol. 48, no. 6, pp. 765-781. Pride, WM 2011, Marketing principles, Cengage Learning, South Melbourne, Vic: Romaniuk, J and Sharp, B 2004, â€Å" Conceptualizing and measuring brand salience,† Marketing Theory, vol. 4, no. 4, pp. 327–342. Romaniuk, J, Sharp, B, and Ehrenberg, A 2007, â€Å"Evidence concerning the importance of perceived brand differentiation,† Australasian Marketing Journal, vol. 15, no. 2, pp. 42-54. Schweppes Australia, 2012. Our Brands, viewed on https://www.asahi.com.au/brands/our-brands This essay on Brand and Product Management was written and submitted by user Melanie Calderon to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Montezuma essays

Montezuma essays You do not lead by hitting people over the head thats assault, not leadership quoted by Dwight D. Eisenhower. This quote describes how Montezuma, the last independent Aztec ruler, and the greatest leader of the Aztecs, treated his Aztec people before the Spaniards conquest and domination of Tenochititlan. Montezuma was known as one of the greatest leaders in history. To understand more about his life, it is important to understand who the Aztecs were and their powerful empire. Knowing more about the Aztecs, then it comes to knowing about the Aztec government and Montezumas leadership life. Finally, it is important to understand the fall of Montezuma and the Aztecs to the dominating Spaniards. During the same period as the Inca Empire, the Aztec Empire dominated Mesoamerica from Mexico and Guatemala to the territories of Salvador and Honduras for nearly 100 years. This empire consisted of the native speaking people known as the Nahuatl-speakers and those of the Culhua-Mexico, who had migrated from the Pacific Northwest and inhabited the area which would become the capital of Mexico, Tenochtitlan. The people of this culture were refined workers, merchants, farmers and fishermen. Also, they were devoted worshippers of the many gods of the Sun. In this role they were responsible for providing the blood of sacrificial victims to sustain the sun in its journey each day across the sky. While human sacrifices were also offered to other gods in the Aztec empire, it was this need to maintain the sun that was the basis for the warrior religious group of the Aztec state. This cult promoted warfare as the means for taking prisoners to be offered on the sacrificial stone of th e great pyramid. Their blood provided nutrition for the sun and another day of life and light for the world. The Aztecs believed that their ancestors were not from Central America. They believed that their ancestors came fro...

Psalms Description Essay Example | Topics and Well Written Essays - 1250 words

Psalms Description - Essay Example Chapter 9 begins by saying a man will have many years added to his life who fears the Lord.   Proverbs four through seven teach about lessons or warnings against adultery, and lust. Chapter one begins with instruction not to follow the evil path. The Word says in verse twenty-three that we should guard our hearts because it is the wellspring of life. Then Chapter one continues the discussion about the lust of the eyes. Proverbs 1:24-27 says"Put away perversity from your mouth; keep corrupt talk far from your lips. Let your eyes look straight ahead, fix your gaze directly before you. Make level paths for your feet and take only ways that are firm. Do not swerve to the right or the left; keep your foot from evil." Chapter five again has a warning against adultery. Proverbs 5:3-5, discusses adultery in the following words. "For the lips of an adulteress drip honey, and her speech is smoother than oil; but in the end, she is bitter as gall, sharp as a double-edged sword. Her feet go down to death; her steps lead straight to the grave." Proverbs in chapter six tell us to flee like a gazelle from the hand of the hunter. Proverbs in chapter fourteen through sixteen teaches us about wrath and anger. The fear of the Lord is mentioned throughout these three chapters. ... The Proverbs speak many times about the dangers of pride. If you boil all sin down the root of sin is pride. The fall of man can even be traced back to pride. The Word says "Pride goes before destruction, a haughty spirit before a fall." Proverbs 16:5 goes even further and says, "The Lord detests all the proud of heart." Furthermore, the Lord says humility comes before honor, and He will show grace to the humble. The Word speaks about gossip and how distractive this can be a friendship. This essay will discuss friendship and faithfulness related to Proverbs in chapter twenty-seven through thirty-one. Proverbs 27:6 tells us," Wounds from a friend can be trusted, but an enemy multiplies kisses." This proverb tells us that a true friend will speak the truth in love. Proverbs 31 describes a wife of noble character and reveals faithfulness in love and marriage in the following words, "A wife of noble character who can find She is worth far more than rubies. Her husband has full confidence in her and lacks nothing of value. She brings him good, not harm, all the days of her life." Proverbs 31:10-12. The Walvoord commentary gave a detailed exposition concerning the date and authorship of the Book. The introduction part of the commentary explained in detail the historical background and the literary style of Proverbs. The author of the commentary also pointed out that Solomon had written 3,000 proverbs as stated in 1 Kings. The exposition commentary went into detail about the themes of the Book of Proverbs.  

Cunduct a survey criticle analyzing Essay Example | Topics and Well Written Essays - 750 words

Cunduct a survey criticle analyzing - Essay Example The paper goes systematically. In the first half of the paper, it provides a brief account of the approach to be taken while conducting this research. This is followed by a step-by-step guide through the entire process of data collection, data analyzing and reporting. It is not a manual on how to conduct a research. It is not even intended that way. It is rather a way to enlighten the novice researcher of the pitfalls associated with research and common mistakes encountered. It tells him, how he must avoid those mistakes if the work is to be deemed authentic and valid. Survey research asks of the same practices and methods as those undertaken in other approaches for research. The journal editors and the research community at large will evaluate a research report with the same level of intensity as that of any other research report. This does not imply that the survey research is difficult or complex, but the point being that the researchers need to be aware of the steps that should be taken in a survey research and they should be thoughtful, in their planning, execution and reporting of the project. More than anything else, survey research should not be considered as a quick, easy and dirty option. It should be worked over very cautiously. If haphazard work is done on it then, it won’t be able to add sufficient and desired value to education. The article elaborates on the development of the Team Diagnostic survey (TDS). It is an instrument which is used to evaluate the strengths and weaknesses of work teams and for research on team behavior and performance. The TDS revolves primarily around research and theory on the conditions set to foster and build team effectiveness. It gives an insight into how well a team is structured, supported and what is it’s leadership like. It reflects on how the processes members engage in while working, the impact of their reactions to the team at large and to the work . On the psychometric properties level, TDS

Model Of Planned Organizational Change Management Essay

Model Of Planned Organizational Change Management Essay These changes require that we alter what we expect from the people we work with. We have to change the values we live by. Values like awareness, teamwork, tolerance, responsibility and information are paramount just as flexibility and change readiness. Overview Change management can be describe as the act of changing the current state of affairs to new ways of doing things through a series of activities including communication and education, leadership, and team work When switch from manual system to automate system we have to consider about the change management because organizational changes typically involve many different types and levels of personal loss for the people in the organization. For example, change always requires the effort to learn the new, which is a loss in terms of time and energy that could have been used elsewhere. Although some may welcome the learning opportunity, many of us dont want to invest that time and energy unless we are dissatisfied with the current arrangements or see powerful advantages to the proposed change. Upgrading to new software in which the future benefits may not be seen as sufficient to outweigh the short-term investment required to learn the new programs. Second, people want to feel good about themselves Ideally, people are able to take pride in their work, feel responsible for a job well done, feel they are part of a high-quality enterprise, and feel that their time has some significance. In many work situations, the work itself and the organizational culture make it difficult for people to feel good about themselves. In these poorer situations, people usually invent strategies to help them feel better about themselves, and these strategies involve getting some sense of control, belongingness, and significance out of their work. Sometimes this involves opposition to management, on the assumption that management is always up to no good. More commonly, the worker-management relationships are not completely alienated. Still, the workers strategies for achieving good feelings are unknown to or quite misunderstood by management. Therefore, change initiatives, unknowingly and unintentionally, threaten to cause the workers serious personal loss. Not surprisingly, the workers resist and do all they can to sabotage such change initiatives. Third, change initiatives often require large losses for middle managers. Generally, people perceive that information systems increase the ability of top executives to know more about what is going on and to exert more direct control. New systems require us to learn a new set of behaviors. Reasons for Change Factors may lead to a necessity for change To improve performance To reduce waste and inefficiency To improve management control and satisfaction of the employees To improve the quality and productivity of an organization To compete in the changing market environment To achieve the desired business results as early as possible Model of planned organizational change Change can be managed. By observing external trends, patterns and needs, managers use planned change to help the organization to adapt to external problems and opportunities. When organizations are caught flat footed, failing to anticipate or respond to new needs, management is at fault. Four events make up the change sequence: Internal and external forces for change exist Organization managers monitor these forces and become aware of a need for change; and The perceived need triggers the initiation for change, which Is then implemented. How each of these activities is handled depends upon the organization and managers styles. Organizational Development Organizational development (OD) is the application of behavioral science knowledge to improve an organizations health and effectiveness through its ability to cope with environmental changes, improve internal relationships, and increase problem-solving capabilities. Organizational development improves working relationships among employees. The following are three types of current problems that OD can help managers address. Mergers/Acquisitions Culture differences should be evaluated during the acquisition process, and OD experts can be used to smooth the integration of two firms. Organizational Decline/Revitalization OD techniques can contribute greatly to cultural revitalization by managing conflicts, fostering commitment, and facilitating communication. Conflict Management Conflict can occur at any time and place within a healthy organization. Organizational development efforts can help solve these kinds of conflicts. OD Activities. A number of OD activities have emerged in recent years. Some of the most popular and effective are as follows. Team-Building Activities Team building enhances the cohesiveness and success of organizational groups and teams. Survey-Feedback Activities Survey feedback begins with a questionnaire distributed to employees. Employees are engaged in problem solving based on the data received from questionnaire. Intergroup Activities These activities include retreats and workshops to improve the effectiveness of groups or departments that must work together. Process-Consultation Activities Organizational development consultants help managers understand the human processes within their organization and how to manage them. Symbolic Leadership Activities This approach helps managers to use the techniques for cultural change, including public statements, ceremonies, and slogans. Forces for Change Forces for organizational change exist both in the external environment and within the organization. Environmental Forces External forces originate in all environmental sectors, including competitors, technology, economic forces, Internal Forces Internal forces for change arise from internal activities and decisions. If top managers select a goal of rapid company growth, internal actions will have to be changed to meet that growth. Change Process Unfreezing: Moving: Refreezing: Breaking from the Instituting the reinforcing and old ways of doing change supporting the things new ways Unfreezing stage, Management realizes that its current practices are no longer appropriate and the company must break out of (unfreeze) its present pattern by doing things differently (Bateman Snell, 2004:559). This could be triggered by the environmental changes or the performance gap (drivers of change). In this stage, people need to move towards recognizing that some of the past ways of thinking, feeling and doing things are outdated. Bateman Snell (2004:559) state that the most effective way to do this is to communicate to people the negative consequences of the old ways by comparing the organizations performance to its competitors. However, care must be taken not to arouse peoples defensiveness by pinning the blame directly and entirely to them. Moving Institute change begins with establishing a vision of where the company is heading (Bateman Snell, 2004:560). The organization needs to get the vision right. This could be done by getting the people to establish a vision and strategy to focus on emotional and creative aspects necessary to drive service and efficiency. It is of critical importance to inspire people to move and make objectives real and relevant. In addition, a team has to be built with the right people in place with the right emotional commitment, and the right mix of skills and levels. This is complemented by Van der Linde (2002:47) in his highlight of the importance of visionary leadership in instituting change. Van der Linde (2002:47) contends that visionary leadership is engaged through clarity, commitment, communication, capabilities, organization culture, configuration and continuous learning. Refreezing Refers to the enhancement of the new behaviors that support the change The changes are spread and stabilized throughout the organization in order for people to identify and behave accordingly. During this stage, control measures, corrective and rewarding measures that support the change are implemented to change behaviors. Bateman Snell (2004:560) highlight the importance of guarding against refreezing rigid behaviors that might be problematic in future. Bateman Snell (2004:560) contend that, the behaviors that should be refrozen are those that promote continued adaptability, flexibility, experimentation, assessment of results and continuous improvement. Implementing Change Creative culture, idea champions and new-venture teams are ways to facilitate the initiation of new ideas. The other step to be managed in the change process is implementation. A new, idea will not benefit the organization until it is in place and being fully utilized. One frustration for managers is that employees often seem to resist change for no apparent reason. To effectively manage the implementation process, managers should be aware of the reason for employee resistance and be prepared to use. Techniques for obtaining employee cooperation are: Why Do Employees Resist Change Idea champion often discover that other employees are unenthusiastic about their new idea. Members of a new-venture group may be surprised when managers in the regular organization do not support or approve their innovations. Several reasons for employee resistance are: Self-Interest. Employees typically resist a change they believe will take away something of value. A proposed change in job design, structure, or technology may lead to a perceived loss of power, prestige, pay, or many company benefits. The fear of personal loss is perhaps the biggest obstacle to organizational change. Lack Of Understanding And Trust. Employees often do not understand the intended purpose of a change or distrust the intentions behind it. If the previous working relationships with an idea champion have been negative, resistance may occur. Uncertainty. Uncertainty is the lack of information about future events. It represents a fear of the unknown. Uncertainty is especially threatening for employees who have a low tolerance for a change and fear the novel and unusual. Different Assessment And Goals. Another reason for resistance to change is that people who will be affected by innovation may asses the situation differently from an idea champion or new-venture group. Managers in different departments pursue different goals and an innovation may detract from performance and goal achievement for some departments. The reasons for resistance are legitimate in the eyes of employees affected by the changes. The best procedure for managers is not to ignore resistance but to diagnose the reasons and design strategies to gain acceptance by users. The strategies for overcoming resistance to change typically involve two approaches: the analysis of resistance through the force field technique and the use of selective implementation tactics to overcome resistance. Force Field Analysis Its the process of determining which forces drive and which resist a proposed change. To implement a change, management should analyze the change forces. By selectively removing forces that restrain change, the driving forces will be strong enough to enable implementation. As restraining forces are reduced or removed, behavior will shift to incorporate the desired changes. Overcoming Resistance to Change The other approach to managing implementation is to adopt specific tactics to overcome employee resistance. The following five tactics have proven successful: Communication and Education. Communication and education are used when solid information about the change is needed by users and others who may resist implementation. Education is especially important when the change involves new technical knowledge or users are unfamiliar with the idea. Participation. Participation involves users and potential resisters in designing the change. This approach is time consuming, but it pays off because users understand and become committed to the change. Negotiation. Negotiation is more formal means of achieving cooperation. Negotiation uses formal bargaining to win acceptance and approval of a desired change. Coercion. Coercion means that managers use formal power to force employees to change. Resisters are told to accept the change or lose rewards or even their jobs. Coercion is necessary in crisis situation when a rapid response is urgent. Top Management Support. The visible support of top management also helps overcome resistance to change. Top management support symbolizes to all employees that the change is important for the organization. Benefits and significance of change management Some of the unique benefits of change management from organizational perspective are given below: Understanding environment (society, government, and customers) it is important for organization to understand, assess and gauge the dynamics in its external environment in order to envisage and establish an appropriate relationship with various actors like government, customers and society. Therefore managers by knowing the subject of change management can better be prepared to understand whatever is going on in the environment. Objectives, strategy formulation implementation (to develop competitive advantage) second is consequent upon knowing the impact of change at extraneous level on its own internal dynamics, and the foremost is objective setting and seeking competitive advantage. Employees (trained, high performing work practices, reliable organization) The employees are the recipient of change plan. One such perpetual concern of senior managers is to make organization highly reliable; therefore employees ought to be trained and high performing one in todays hyper competitive world Technology Issues Technology is considered the engine of growth in todays world. Perhaps the greatest challenge for contemporary organizations is the acquisition and integration of technology in its strategy, structure and process. CONCLUSION change management and its impact during the implementation of a new business model including a shared service. The implementation of shared services requires a significant integration and coordination, including human resources, to ensure success. To be a partner to the business, the shared services unit and its employees must understand profoundly what capabilities drive successful implementation and how the nature of work affects those capabilities.

College Is a Waste of Time and Money

In her article â€Å"College Is a Waste of Time and Money†, Caroline Bird attempts to pursued her readers that colleges are overflowing with students who don†t belong there. Her article first appeared in Psychology Today (May 1975). Since this material is outdated, I find it hard to believe that most of the responses by students and parents quoted in the article still hold true. The author has set out to pursue the readers that college is a bad and unnecessary choice for today†s youth. Yet the author holds a bachelors and a masters degree from two different universities. I would think that if she thought college was really a bad choice and a waste of time and money, she would not have gone back to get her masters degree. I am a college student myself and there were only two things in the whole article that I was in agreement with. One was that colleges try to market themselves. The other was her paragraph on how Americans are looking less and less for great paying jobs and are looking more for job that they like doing. This unfortunately is also a contradiction to her piece of writing, because college prepares, and helps you get a job that you will enjoy. Furthermore, the author†s main ideas were not well thought out or well supported. An example of this might be her money investment idea. She implies that if an eighteen year old invested his/hers college tuition money in a bank, and kept it there till he/she was sixty-four, they would be twice as rich as those who go to school, graduate and work in their field of study. What she fails to mention is that while their money is gathering interest, it can not be touched till their sixty-four, and in the mean time they have to be making a living in another job which they probably hate doing. Overall, Bird†s attempt to pursue her readers that college is a waste of time did not work on me. Students are in colleges because they are told to, or because they still want to be financially depend on their parents and not have to worry about growing up to face the real world. The author in her article writes such ideas. Furthermore, since colleges became a big industry in the 60†³s, and now the number of people attending has fallen, colleges use marketing skills to bring more students in. They try to make college sound as easy as possible to make more people register. Students, once in college are not happy and drop out, or just hang out and finish just because they think it is the right thing to do. The author feels that students are sad because they are unwanted young adults. Since the world is overpopulated, we stick the eighteen-year-olds in colleges to temporarily get rid of them. We also fool ourselves into believing that these actions are good for them. Most of these unwanted young adults eventually learn to like it, and those that don†t drop out. The conservative Carneigie Commission estimated that five to thirty percent of students are in College reluctantly. Also buy giving figures of some surveys that students took, the author states that students think education is less and less important. Parents believe their kids are too young and immature to make a decision by them selves, therefore they pressure their kids into attending college believing it is the best thing for them. The author does not agree with these actions and thinks that students should decide for themselves whether or not they want to continue their education. If students feel that college is not for them, they should not stay there just because somebody expects them to. Furthermore, she states that if everyone got a higher education everybody would be on the same intellectual level, and there would be no difference in people. Some say that college is the greatest investment one can make. The author argues this point by giving examples of investments that greatly outweigh the average income of a graduate. If for example a student were to take his money for a four-year college, and put it in a savings account, by the age of sixty-four he would have twice as much money then if he were to graduate and earn a living with the help of his degree. Another example, which she gives, is based on a supposed Princeton student who liked fixing cars. The student could have put his college money in a bank, and go work for a mechanics shop. And as he was learning all the necessary skills, the money would be gathering interest. In ten years, he would have enough to buy out his boss, and start his own business. Afterwards she states that, although all these scenarios look good on paper, it is hard to put a dollar value on education. Next, the author talks about status, and that this is what attracts some to colleges. Most students that graduate do not necessarily make more money than those without a degree. She states that most people do not go to college for the money but for a career and a job which they will like doing. She gives an example of a guy named Jerry Darring, who quit his well paying family operated job to go back to college and get a degree which will help to prepare him for a less paying job which he will like to do. Most college students, when talking about getting a good job after they graduate, mean a job that will be pleasant for them. This sort of phenomenon is called â€Å"psychic income. † Most jobs, which these graduates will want to be employed in, are scares though. The amount of students in law school studying to be layers is twice as much as is needed. On top of that, graduates might not even work in the same field as they were studying for. Teachers, Engineers, and others were interviewed by the author, and said that they rarely use the stuff that they learned in college. Some also reported that they perform jobs that bear very little to none resemblance of a job which they were preparing for in school. The key that opens a door full of jobs is what a college diploma used to be. Now that attendance in colleges has doubled, a diploma can not even guarantee a job. The author then goes on to identify false statements about college effects on people. She states that colleges do not make people â€Å"intelligent, ambitious, happy, or liberal. It is the other way around. Intelligent, ambitious, happy, or liberal people are attracted to higher education in the first place (49). † Next she talks about learning experience that change a student while he is in college. That these experiences are not though by the college, but through jobs, friends, and time. While concluding her article, Caroline Bird says † We ought to make it possible for these reluctant, unhappy students to find alternative ways of growing up, and more realistic preparation for the years ahead (49). † In the whole article I have found only two specific points that I am able to agree with. One example is the author†s description of colleges trying to market their education. When I was a senior in my high school, a lot of colleges came to recruit us. While talking to some selected recruiters, and asking them why I should pick their college to go to, they were giving me reasons which had nothing to do with getting a good education. A great football team, a huge recreation centers, and stores on campus, were some of the reason I had heard. The other point that I agree with is that Americans put more priority on jobs they like doing than the jobs income. Unfortunately there are far more things I do not agree with in Caroline Bird†s article. First of all, how can she write an article stating that college is a waste of time and money, if she herself is a graduate? Not only that, she graduated with a masters degree. I would understand if she only had a bachelors, her argument could have been that as long as she started college, she should at least get her bachelors. But if college is such a waste of time and money why would she go on to get her masters degree. Furthermore, some points which she uses in her argument are not enough to pursued me. One example would be when she says â€Å"we fool ourselves into believing that we are sending them there for their own best interest. â€Å"(42) In my opinion this is true, true in the case that parents want a better and easier way of life for their kids. My parents send me to college so that I could make more money doing an easier job than they have to do, because they lack a college diploma. She feels that eighteen-year-olds should make their own choice whether to go to college or not. I think that when a person is eighteen, they are too young to make their own decisions. I know this from my own experience. If I had a freedom of choice when I was eighteen, I would not be writing this critique, because I would not be in college. But now that I have grown up and did some thinking I want to stay and get my degree. I feel that kids should at least try college, learn and see a couple of things and then decide whether they should stay or go. Generally, parents without a college education are the ones who put the most emphasis on their kids going to college and making something of themselves, in order to have a better life then they had. The author then goes on to challenge her own ideas by saying that college does prepare you for a job that you actually might like doing, and that is what most Americans want. So then would not college be a good choice for most Americans?

Succubus Blues CHAPTER 15

Sometimes you wake up from a dream. And sometimes, every once in a while, you wake up in a dream. That's what happened to me. I opened my eyes, head throbbing, vaguely aware of something warm and fuzzy in my arms. Bright sunlight made me squint at first, but when I could finally focus, I realized I was looking straight into the faces of Cady and O'Neill. I shot upright, a motion my head did not approve of at all. Surely I was mistaken. Surely, no†¦ there they were. Before me, next to the bed I sat in, was a large oak desk surrounded by bulletin boards and white boards. Pinned to the bulletin boards were magazine cutouts, faces and faces of people who reflected every nuance of the characters described in Seth's books. One section was even labeled NINAcady, displaying at least twenty different cutouts of slim blondes with cropped, curly hair, while another section – marked BRYANT O'NEILL – displayed brooding, thirty-something men with dark hair. Some of the cutouts were from major ads I recognized, though I'd never before connected the resemblance to Seth's characters. Other minor characters from the books also had places on the display, though less noticeably so than the leads. Scrawls of notes and words filled the white boards, most done in a bizarre shorthand type of flow chart that made no sense to me. Working Title: Azure Hopes – fix later; Add Jonah Chap. 7; Clean up 3-5; C&O in Tampa or Naples? Check stats; Don Markosin 8†¦On and on the scrawls went. I stared and stared at them, realizing I was seeing the skeleton foundation of Seth's next novel. Part of me whispered I should look away, that I was ruining something, but the rest of me was too fascinated at glimpsing the way a novel and its world came to life. Finally, the smell of frying bacon made me turn from Seth's desk, forcing me to piece together how I'd arrived here. I cringed, recalling what an idiot I'd been around Doug, Roman, and even Seth, but my hunger won out in temporarily allaying my remorse. It seemed odd that I should feel hungry after what I'd put my stomach through last night, but like Hugh's beating, I could bounce back quickly. Disentangling myself from the covers and the teddy bear I'd unknowingly been holding, I made my way to the bathroom to rinse my mouth and study my appearance: wild-haired and downright adolescent looking in the T-shirt. I didn't want to waste the energy to shape-shift, however, and trotted out of the bathroom, following the sounds of sizzling against a background of â€Å"Radar Love† by Golden Earring. Seth stood in a modern, well-lit kitchen, tending a skillet on a stove. The color scheme was bright and cheery, maple wood cupboards and beams accented with cornflower blue paint on the walls. Seeing me, he turned down the music and gave me a solicitous look. His shirt today displayed Tom and Jerry. â€Å"Good morning. How are you feeling?† â€Å"Surprisingly well.† I made my way to a small, two-person table and sat down, tugging the shirt to cover my thighs. â€Å"My head seems to be the only casualty thus far.† â€Å"You want something for it?† â€Å"No. It'll clear up.† I hesitated, detecting something through the smell of salty, greasy meat. â€Å"Is that†¦ coffee?† â€Å"Yup. Want some?† â€Å"Regular?† â€Å"Yup.† He walked over to a pot, poured a mug of steaming coffee, and brought it to me, along with a cute sugar and creamer set. â€Å"I thought you didn't drink this stuff.† â€Å"I don't. I just keep it on hand in case caffeine-crazed women wake up in my bed.† â€Å"That happen a lot?† Seth smiled mysteriously and returned to the stove. â€Å"Are you hungry?† â€Å"Famished.† â€Å"How do you like your eggs?† â€Å"Over hard.† â€Å"Nice choice. You want bacon too? You're not a vegetarian or anything?† â€Å"I'm an honest carnivore. I want the works†¦ if that's not asking too much.† I felt kind of sheepish about him waiting on me, considering everything else he'd already done. He didn't appear to mind. The works turned out to be more than I'd imagined: eggs, bacon, toast, two kinds of jam, coffee cake, and orange juice. I ate it all, thinking about how jealous Peter would be, still confined to his low- carbdiet. â€Å"I'm in a food coma,† I told Seth afterward, helping with the dishes. â€Å"I'll need to go back to bed and sleep it off. Do you eat like this every day?† â€Å"Nah. Just when aforementioned women are hanging out. It ensures they don't leave too quickly.† â€Å"Not a problem, considering this is all I have to wear.† â€Å"Not true,† he told me, pointing toward his living room. Looking up, I saw my dress – clean – hanging on a hanger. The sheer, bikini-cut panties I'd worn under it had been looped around the hanger's head. â€Å"It said dry-clean, but I took a chance on putting it on extra-gentle cycle in the wash. It came out okay. So did the, uh, other thing.† â€Å"Thanks,† I replied, unsure as to how I felt about him washing my underwear. â€Å"Thanks for everything. I really appreciate what you did for me last night – you must think I'm a total freak – â€Å" He shrugged. â€Å"It's no problem. But† – he glanced at a nearby clock – â€Å"I may need to run out on you soon. Remember that one party? It starts at noon. You can still hang out here.† I turned to the same clock. Eleven forty-seven. â€Å"Noon! Why didn't you wake me up sooner? You'll be late!† He shrugged again, infinitely unconcerned. â€Å"I figured you needed the sleep.† Setting down the towel I'd been holding, I darted to the living room and grabbed my dress. â€Å"I'll call a cab. You go. Don't worry about me.† â€Å"Seriously, it's no problem,† he argued. â€Å"I can give you a ride home even, or†¦ well, if you wanted, you could come with me.† We both froze awkwardly. I didn't really feel up to going to some strange party. What I needed to do was get home and do damage control with Roman and Doug. Yet†¦ Seth had been terribly nice to me, and he had wanted me to go to this thing before. Didn't I owe him? Surely I could do this for him. An afternoon party probably wouldn't even last that long. â€Å"Would we need to pick up anything?† I asked at last. â€Å"Wine? Brie?† He shook his head. â€Å"Probably not. It's for my eight-year-old niece.† â€Å"Oh. So no wine then?† â€Å"Yeah. And I think she's more into Gouda anyway.† I looked at the dress. â€Å"I'll be overdressed. You got anything I can put on over this?† Seven minutes later, I sat in Seth's car, driving toward Lake Forest Park. I had the georgette dress back on, along with a man's plaid flannel shirt in shades of white, gray, and navy. The shirt was open save for a couple buttons. I had French-braided my hair in lieu of shape-shifting it into place and now frantically applied cosmetics from my purse as I rode. I suspected I had a sort of Ginger-Rogers-Joins-Nirvana look going. We arrived at the suburban house I'd dropped Seth off at a few weeks ago. Pink balloons fluttered from the mailbox, and a mother in jeans and a sweatshirt waved goodbye as a small girl disappeared into the house. Said mother then returned to the massive, soccer team-carrying vehicle running in the driveway. â€Å"Whoa,† I said, taking it all in. â€Å"I've never been to anything like this before.† â€Å"You must have when you were little,† Seth amended, parking across the street. â€Å"Well, yeah,† I lied. â€Å"But it's a different experience at this age.† We approached the front door, and he entered without knocking. Immediately, four small, blond female forms slammed into him, grappling onto his limbs, nearly knocking him over. â€Å"Uncle Seth! Uncle Seth!† â€Å"Uncle Seth's here!† â€Å"Is that for me? Is that for me?† â€Å"Desist, before I have to break out the tear gas,† Seth told them mildly, unclasping one who threatened to rip his left arm off. One of them, all blond curls and giant blue eyes like the others, caught sight of me. â€Å"Hi,† she said boldly, â€Å"who are you?† Before I could answer, she tore out of the foyer, yelling, â€Å"Uncle Seth brought a girl!† Seth made a face. â€Å"That's Morgan. She's six.† He pointed to a clone of her. â€Å"This is McKenna, her twin. Over here's Kayla, four. This one† – he paused to lift up the tallest of the four, a motion that made her cackle gleefully – â€Å"is Kendall, the birthday girl. And I imagine Brandy's here somewhere, but she's too civilized to assault me like the rest.† A living room extended beyond the foyer, and another blond girl, a few years older than Kendall, watched us over the back of a couch. Other assorted children – the party guests, I presumed – ran and screamed beyond her. â€Å"I'm here, Uncle Seth.† Seth set Kendall down and tousled Brandy's hair, much to her chagrin. She wore the affronted dignity only one on the edge of adolescence could have. Morgan returned shortly thereafter with a tall, blond woman in tow. â€Å"See? See?† exclaimed the little girl. â€Å"I told you.† â€Å"Do you always create such a scene?† the woman asked, giving Seth a quick hug. She looked happy but exhausted. I could understand why. â€Å"I should be so lucky. My fans aren't half this ravenous. Andrea, this is Georgina. Georgina, Andrea.† I shook her hand as a slightly shorter, younger version of Seth entered the room. â€Å"And that's my brother, Terry.† â€Å"Welcome to our chaos, Georgina,† Terry told me after I'd been introduced. He glanced at all of the children, his own and others, running around the house. â€Å"I'm not sure I fully understand Seth's wisdom in bringing you here. You'll never come back.† â€Å"Hey,† exclaimed Kendall to me, â€Å"isn't that the shirt we got Uncle Seth for Christmas?† An awkward silence fell among us adults as we all tried to look somewhere else. Finally, Andrea cleared her throat and said, â€Å"All right, guys, let's fall into line and get some games going.† I had expected a child's birthday party to be wild, but what proceeded to pass that afternoon surpassed even my imaginings. Equally impressive was the way in which Seth's brother and sister-in-law managed to control the herd of screaming, jumping creatures that somehow seemed to be everywhere in the house at once. Terry and Andrea handled them all with efficient good nature while Seth and I did little more than watch, occasionally fielding random questions tossed our way. The entire experience stunned me as a bystander; I could hardly imagine coping with it on a regular basis. It was fascinating. At one point, catching his breath, Terry saw me alone and struck up a conversation. â€Å"I'm glad you could come,† he said. â€Å"I didn't know Seth was seeing anyone.† â€Å"We're just friends,† I clarified. â€Å"Still. It's nice to see him with someone flesh and blood. Someone he didn't make up.† â€Å"Is it true he nearly missed your wedding?† Terry grimaced by way of confirmation. â€Å"My best man, if you can believe that. Showing up two minutes before the ceremony began. We were on the verge of starting without him.† I could only laugh. He shook his head. â€Å"If you continue hanging out with him, make sure you keep him in line. My brother may be brilliant, but by God, he needs a keeper sometimes.† After party games came cake, and after cake came presents. Kendall lifted Seth's up expertly and shook it. â€Å"Books,† she declared. Brandy, older and therefore quietest of the group, glanced at me and explained, â€Å"Uncle Seth always gets us books.† This did not seem to faze Kendall any. She tore open the package and crowed delightedly over three books of pirate stories contained within. â€Å"Pirates, huh?† I asked Seth. â€Å"Is that politically correct?† His eyes danced. â€Å"She wants to be one.† As the party wound down and guests were retrieved by parents, Kendall beseeched Seth to read stories, and I followed him, the nieces, and other stragglers into the living room while the girls' parents attempted to clean up in the kitchen. Seth read in the same compelling way he had at his signing, and I curled up in an armchair, content to just listen and watch. I was therefore startled when Kayla's small form scrambled up and sat on my lap. Youngest of the girls, she could shriek with the best but tended to speak very little. She studied me with her globes of eyes, touched my French braid with interest, and then snuggled into me to listen to Seth. I wondered if she understood any of what he was saying. Regardless, she was soft and warm and smelled like little girl. Unconsciously, I ran my fingers through the fine, corn silk strands of hair and soon began weaving it into a braid similar to mine. When Seth finished a story, McKenna noticed what I was doing. â€Å"Me next.† â€Å"No, me,† ordered Kendall eagerly. â€Å"It's my birthday.† I ended up braiding for all four of the younger girls. Brandy shyly demurred. Not wanting four copies of me, I elected other styles for the girls, herringbones and plaits that delighted them. Seth continued to read, occasionally glancing up at me and my handiwork. By the time we were ready to leave, I felt drained physically and emotionally. Children always made me feel a little wistful; being in close contact like this made me downright sad in a way I couldn't explain. Seth said goodbye to his brother while I lingered near the door. As I did, I noticed a small bookcase beside me. Studying the titles, I picked out Burberry's New Annotated Bible: Old and New Testaments. Remembering what Roman had said about the King James Version being a bad translation, I opened this one up to Genesis 6. The wording was nearly identical, a little cleaner and more modern sounding here and there, but mostly unchanged. With one exception. In verse 4, the King James Version had read: â€Å"There were giants in the earth in those days; and also after that, when the sons of God came in unto the daughters of men†¦Ã¢â‚¬  This version, however, said: â€Å"The Nephilim were on the earth in those days and also afterwards, when the sons of God went to the daughters of men†¦Ã¢â‚¬  Nephilim? A superscript number appeared by the word, and I followed it to the appropriate footnote. The word † nephilim† is sometimes translated as â€Å"giants † or â€Å"fallen ones.† Sources vary in accounts of these angelic offspring, citing them sometimes simply as neighbors to the Canaanites and other times as Titan-like creatures reminiscent of Greek heroes (Harrington, 2001). Frustrated, I looked up the Harrington reference in the book's bibliography, finding it linked to Biblical Arcanaand Myth by Robert Harrington. I memorized the title and author, slipping the Bible back into its place just as Seth turned to go. We drove in silence, the sky graying early as Seattle's winter loomed nearer. I might normally have interpreted the quiet in the car as awkward or weird, but I found it comfortable as my mind pondered the nephilim reference. I needed to get a hold of the Harrington book, I decided. â€Å"They didn't have ice cream,† Seth suddenly noted, interrupting my thoughts. â€Å"Huh?† â€Å"Terry and Andrea. They had cake with no ice cream. You want to get some ice cream?† â€Å"Not enough sugar for you already?† â€Å"They just go together, that's all.† â€Å"It's only about fifty out,† I warned as he pulled up next to an ice cream parlor. Ice cream in inclement weather seemed odd to me. â€Å"And it's windy.† â€Å"Are you kidding? In Chicago, a place like this wouldn't even be open this time of year. This is balmy.† We went inside. Seth ordered a double cone of mint chocolate chip. I ordered a more adventurous double of blueberry cheesecake and mocha almond swirl. Sitting at a table by the windows, we ate our sugary confections in more silence. Finally, he said, â€Å"You're quiet today.† I turned on him in wonder, pausing in my mental dissection of nephilim. â€Å"That's a switch.† â€Å"What is?† â€Å"Usually I think you're too quiet. I have to talk and talk to keep things going.† â€Å"I've noticed. Er, I didn't mean that like it came out. That sounded bad. You talking is a good thing. You always know what to say. Exactly the right thing at exactly the right time.† â€Å"Not last night. I said horrible things last night. To Doug and Roman both. They'll never forgive me,† I lamented. â€Å"Sure they will. Doug's a good guy. I don't really know Roman, but†¦Ã¢â‚¬  â€Å"But what?† Seth suddenly looked embarrassed. â€Å"I imagine you're easy to forgive.† We looked at each other for a moment, and warmth flushed my cheeks. Not blood boiling, get naked and jump someone warm, but just cozily warm. Like being wrapped in a blanket. â€Å"That looks terrible, you know.† â€Å"What does?† He pointed at my cone. â€Å"That combination.† â€Å"Hey, don't knock it until you try it. They actually go pretty well together.† He looked doubtful. I slid my chair over by him and offered him a bite. â€Å"Make sure you get both flavors.† He leaned in for the bite and managed both the blueberry cheesecake and mocha almond swirl. Unfortunately, a piece of the blueberry cheesecake scoop fell off onto his chin in the process. I instinctively reached out to stop it, sliding it back to his mouth. He just as automatically nabbed the wayward piece with his tongue, licking it off my fingers. A blast of eroticism coursed through me, and looking into his eyes, I knew he'd shared it too. â€Å"Here,† I said hastily, reaching for a napkin, ignoring the desire to return my fingers to his mouth. Seth wiped his chin with it, but for once, he didn't let his self-consciousness get the better of him. He stayed where he was, leaning close to me. â€Å"You smell amazing. Like†¦ gardenias.† â€Å"Tuberose,† I corrected automatically, dazed by how close he was to me. â€Å"Tuberose,† he repeated. â€Å"And incense, I think. I've never smelled anything like it.† He leaned a hair closer. â€Å"It's Michael by Michael Kors. You can get it at any high-end department store.† I nearly groaned as the words left my flustered lips. What an idiotic thing to say. My nervousness made me flippant. â€Å"Maybe Cady could start wearing it.† Seth was all seriousness. â€Å"No. This is you. Only you. It would never smell exactly the same on anyone else.† I shivered. I wore this perfume because it was reminiscent of what other immortals sensed in my unique signature, my aura. This is you. With just a few casual words, I felt as though Seth had uncovered some secret part of me, looked into my soul. We sat there then, chemistry burning between us like crazy, neither of us acting. I knew he would not try to kiss me as Roman had. Seth was content simply to look at me, to make love to me with his eyes. Suddenly the wind caught the door to the tiny restaurant, forcing it open as a huge gust swept in. Wisps of hair blew into my face, and I slammed my hands down on the napkins that flew up from our table. Other items in the parlor had less success as more napkins and scraps of paper drifted around, and a cup of plastic spoons fell off the counter, spilling its contents on the floor. The clerk behind the counter ran to the door, fighting against the wind to make the latch catch. When he'd finally done so, he glared at the door resentfully. With the moment – whatever it was – shattered, Seth and I picked up our things and left shortly thereafter. I asked him to drop me off at the bookstore. I hoped Doug would be there to apologize to, plus I wanted to get ahold of that Harrington book. â€Å"You want to come in and hang out? Say hi to anybody?† I somehow felt reluctant to leave Seth now, in spite of all the things I needed to do. He shook his head. â€Å"Sorry. I've got to go. I'm meeting someone.† â€Å"Oh.† I felt kind of foolish. He could have a date now for all I knew. And why shouldn't he? It wasn't like I was his only social connection, especially after my no-dating spiel. I was foolish to be reading so much into the ice cream encounter, especially since I was supposedly crazy about Roman. â€Å"Well. Thanks again for everything. I'll make it up to you.† He waved his hand dismissively. â€Å"It wasn't anything. Besides, you paid me back by going to the party.† Now I shook my head. â€Å"I didn't really do anything there.† Seth only smiled. â€Å"See you around.† I stepped out of the car and suddenly stuck my head back in. â€Å"Hey, I should have asked you this earlier. Do you have my book signed yet? The Glasgow Pact ? â€Å" â€Å"Oh†¦ man. No. I can't believe I forgot about that. It's still at my place. I'll sign it and bring it soon. I'm sorry.† He looked sincerely contrite. â€Å"Okay. It's no problem.† I should have ransacked his condo for it. We said goodbye again, and I turned into the bookstore. If I remembered my schedule right, Paige should have opened and Doug should be here now as the late manager. Sure enough, he stood at the information desk, looking on while Tammi helped a customer. â€Å"Hey,† I said, walking up to him, uneasiness filling me as I recalled my harsh words. â€Å"Can I talk to you for a minute?† â€Å"No.† Whoa. I'd expected him to be upset†¦ but this? â€Å"You need to call your friend first.† â€Å"I – what?† â€Å"That one guy,† Doug explained. â€Å"That plastic surgeon that hangs out with you and Cody.† â€Å"Hugh?† â€Å"Yeah, that's the one. He's called, like, a hundred times, leaving messages. He's been worried about you.† His expression turned both soft and wry as he took in my dress and flannel ensemble. â€Å"So have I.† I frowned, wondering at Hugh's urgency. â€Å"Okay. I'll call him now. Come talk to me later?† Doug nodded, and I started to pull out my cell phone until I remembered I'd broken it last night. Retreating to the back office instead, I sat on the desk's edge and called Hugh. â€Å"Hello?† â€Å"Hugh?† â€Å"Jesus Christ, Georgina. Where the hell have you been?† â€Å"I, er, nowhere†¦Ã¢â‚¬  â€Å"We've been trying to get ahold of you all last night and today.† â€Å"I wasn't at home,† I explained. â€Å"And my cell phone broke. Why? What's going on? Tell me there hasn't been another one.† â€Å"Afraid so. Another murder this time, no more friendly beatings. When we couldn't reach you, the vampires and I thought he'd got you too, even though Jerome said he could feel that you were fine.† I swallowed. â€Å"Who†¦ who was it?† â€Å"Are you sitting down?† â€Å"Sort of.† I braced myself, ready for anything. Demon. Imp. Vampire. Succubus. â€Å"Lucinda.† I blinked. â€Å"What?† All my theories of an avenger of evil shattered. â€Å"But that's impossible. She's – she's – â€Å" † – an angel,† Hugh finished for me.

New Conservative Financial Framework Essay Example Pdf - Free Essay Example

Sample details Pages: 3 Words: 1031 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? BP is undertaking a conservative financial framework which they think flexible to execute strategy and programs while remaining resilient to the inherent risk of the business. The conservative capital structure is demonstrated in the table shows that in approximately 68% of the source of funds come from internal capital injected by the shareholders in 2010. The significant drop from 74.6% in 2009 is explained by the debt increment and liquidity problems in resolving the oil spill issue in the Gulf of Mexico. Don’t waste time! Our writers will create an original "New Conservative Financial Framework Essay Example Pdf" essay for you Create order In effort to maintain a significant liquidity buffer, BP intends to reduce their net debt ratio to within a range of 10-20% from the previous target of 20-30%. The Gulf of Mexico oil spill catastrophe has poses a serious reputational damage on BP as well as its financials. Following the incident, the group was required to make substantial cash payments and compensation in relation to the oil spill. BP has established a trust fund of $ 20 billion to satisfy legitimate claims by parties affected (government, business and individual) and restore the damaged environment which is to be funded over the period to the end of financial year 2013. Besides, to increase the companys cash resources, the company has sold off up to $ 30 billion of assets to meet its financial obligation after taking a pre-tax charge of $ 40.9 billion in relation to the accident. Statistics of BPs business performance 2010 2009 Capital Structure Debt 32.3% Debt 25.4% Equity 67.7% Equity 74.6% Net Debt Ratio 21.0% 20.0% Current Ratio 1.15 1.14 Capital Expenditure $ 18,421 million $ 20,650 million There is a significant decrease in capital expenditure from $ 20,650 million in 2009 to $ 18,421 million in 2010 attributed to the loss suffered from the oil spill incident. However, the group further enhance its position through mergers and acquisition activities for long term growth. The funding of increased capital expenditure and acquisition was achieved by the disposal of assets of $ 17 billion in 2010 as well as supported by the internal resources, bringing the net investment decreased to $ 3,960 million in 2010 from $ 18,133 million in 2009. The disposal proceeds may lower the groups debt level while sustaining a liquid position to remain competitive among the peers. Apart from that, they have cut back on discretionary capital spending and secured additional credit lines. The board of BP has taken a bold measure to cancel three dividend payments in 2010 to protect the company and secure its long-term future and would recommence in 2011. Financing Activities The group finance operations with US dollar debt, or by using currency swap when funds have been raised in currencies other than US dollars. The group finance debt at 31 December 2010 was recorded at $ 45.3 billion ($ 34.6 billion in 2009). Of the total amount, $ 14.6 billion is classified as short term debt ($ 9.1 billion in 2009). BP has financed its short term obligations through the issuing of commercial papers in US and Europe to provide flexibility. BP maintains a strong cash position to ensure that the firm always has the flexibility to meet future financial obligations and reflects a prudent approach in managing companys liquidity requirement. Cash balances are pooled centrally and cash surpluses are deposited with highly reputable banks and i nvested in money market funds with short maturities to ensure availability. At 31 December 2010, the group has a balance of undrawn committed borrowing facilities of $ 12.5 billion ($ 5 billion in 2009) which is made up of $ 5.3 billion of standby facilities and $ 7.2 billion of 364-days facilities. Following the Gulf of Mexico oil spill, Moodys Investors Service and Standard Poors (SP) downgraded the groups long term credit ratings from stable outlook to negative outlook. The announcement shod the confidence of the investors in BPs US Industrial Revenue/ Municipal bonds and in bonds related with long term gas supply contracts. They exercised the options to tender the bonds for repayment and the group has to fork out $ 4 billion to repay the investors, with BP either holding or retiring the bonds. In response to that, BP secured additional bank links totalling $ 12 billion and announced the momentary deferral of quarterly dividend payments. Besides, $ 17 billion was raised th rough the disposable program in 2010 and another $ 4.6 billion was raised during the third quarter from syndicated bank loans backed by future crude oil sales over a five year period. Bonds worth $ 6.25 billion with maturities between four and ten years were issued in US and European capital market. The group has in place a European Debt Issuance Program (DIP) of which the group may raise up to $ 20 billion of short-term debt with maturities of one month or longer. Besides, the group has also in place an unlimited US Shelf Registration which allows similar financing as DIP. Financial Risks Management The group is exposed to a number of financial arising from the nature of business such as market risk from volatility of commodity prices, foreign exchange rate fluctuations, interest rate risks, credit risks and liquidity risks. Financial risk committee (GFRC) was established to act as the advisor for the group chief financial officer (CFO) who oversees the management of the a forementioned risks. It also plays its role as an advisory body which formulate the financial risk governance framework for the company. Market risk and commodity price risk are the uncertainty arising from the volatility of market price movements and their impact on future performance of the business. These risks are deemed to be the most concerned for BP as their business performance depends on the prices of commodity instruments: oil, natural gas and power. Value-at-risk techniques are used to measure market risk while price risk is hedge by using oil and natural gas swap, options and futures. The group uses derivatives financial instruments to hedge against the exposure of foreign currency exchange rates, interest rates and commodity prices. The basic hedge strategies against the foreign exchange rate exposure undertaken by the group are currency forwards, futures and cylinders. The group aims to keep the 12-month foreign currency value at risk below $ 200 million and the foreign currency value at risk was $ 81 million at 31 December 2010, far below the threshold level. Some measures taken to mitigate credit exposure are netting arrangement, credit support agreements that require the counterparty to provide collateral, take up credit insurance and other risk transfer instruments. To avoid concentration risks and ensure that cash is well diversified, more than 80% of the groups cash and equivalents balance was deposited with financial institutions rated A+ or higher at 31 December 2010.