The Creation of Shelter in Pre-Colonial Far North Australia Essay Example

The Creation of Shelter in Pre-Colonial Far North Australia Essay Zealand Shelter has always been a necessity for mankind. We, as humans, have a relationship with the land that we must respect to live happily amongst it. Spanning back as far as the pre-colonial Australia, indigenous Australians understood this connection excellently. Their shelters seemed to bend with the land as they understood crucial elements within the architecture to compensate for distinctive climate and cultural factors to fit their nomadic lifestyle. Their living style was very minimalist yet practical. The indigenous Australians only built what they needed to survive. For evidence of this, we will be looking at the text; Guyana, Gooney and Hurley: the Aboriginal architecture of Australia by Paul Emmett as he discussed the social dynamics and structural design of the indigenous communities. Conversely, indigenous New Slanderer had a more conventional comprehension of space and planning of their more permanent townships. The shelters of the New Zealand tribes created community Importance with their detailed Maori. As a key example of these traditional settlements, Historic buildings of New Zealand from the New Zealand Historic Places Trust shows us many detailed plans of this living style and complete descriptions of the Maori. The Indigenous New Slanderer built shelters to provide basics of societal living and town leadership as well as for the necessity of housing. However, both communities had an outstanding respect and comprehension for the environment they surrounding themselves with. This essay will explore both the saltcellars and Juxtapositions between the shelters of the Indigenous Australians and New Slanderer, how this enriches their connection with the environment and heir community lifestyle. We will write a custom essay sample on The Creation of Shelter in Pre-Colonial Far North Australia specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Creation of Shelter in Pre-Colonial Far North Australia specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Creation of Shelter in Pre-Colonial Far North Australia specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Indigenous lifestyle and architecture of any kind has always been recognized as vastly deferent from Western moulds. The Aboriginal tribes of far north show complete understand of how the land behaves though their semi-nomadic lifestyle and simple architectural styles. They moved between a number of neighboring ecological areas to exploit and conserve seasonal foods and resources. As quote from Aborigine Tom ADSTAR says: We cultivated our land, but In a way different from the white man. We endeavourer to live with the land; they mimed to live off it. I was taught to preserve, never to destroys concurring with this method. The Aboriginal tribes formed camps which they would use from a single day to several seasons. They lived in this way in order to protect and respect the land in which they viewed as a mother figure towards them, in that the mother cared for them and In turn needed care and love also. The Indigenous New Slanderer, the Maori, also have an intricate understanding and respect of the environment they live in and too adopt a semi-nomadic lifestyle depending on the season and the availability of the resources in the areas. Though the use of architecture, they have progressively increased their consideration of the world as they have grown with the changes of the natural and spiritual aspects of the environment as well as the political and colonial. 4 However It Is the natural development of their architecture, environment; biological isolation, geological stability and climatic variation makes a harsh and tough environment. 5 This was well recognized by the indigenous as well as the difficulty that the land has in supplying all their needs all of the time. So, in moving around, this helped them locate where the food and water was best. A side effect of this was to leave areas where they been, and give the plants and animals time to recover. Some groups developed sacred sites that were out of bounds to individuals. Some of these sacred sites happened to be nesting areas for some of the species that they hunted. By making them off limits, they allowed the breeding of these species to continues and so keep a supply for their food. 6 Their motivations were very different to Western society. Similar to conservation of food and environment, their architectural style was also minimalist. The far north indigenous tribes of Australia centralized their camps and villages in the proximity of a running stream. This ensured that their food sources werent toxic plants, that they had an abundance of revering species such as crayfish, eels and fish, the construction of earth oven with river sand and rock for manufacturing nutcrackers and axes. These sorts of villages were constructed quite permanently to facilitate older relatives in a cool and providing place whist other tribe members continued to move from place to palace. Building near a stream was a sustainable idea as the surrounding area was far less dense, they didnt need to clear much spaces to build a camp. They would aim for places with much sun light to escape the constant wet environment of the rainforests. 9 They had to take care that the ground was semi- elevated to ensure the camp was not flood prone, that the river they were camped next to would not rise too much. In these base camps, more permanent dome structures were built. The indigenous understood the different between structures that would support them for longer periods of time and that of a nomadic lifestyle. Similarly, the early settlements of the first New Slanderer were often at harbors or the mouths of rivers which were close to the sea. This provided them with good access to fishing and shellfish grounds, and extensive hunting of seals and moa birds. It is important for any colony of people to be provided for where they live. The relationship the Maori had with the sea was that it supplied them with food, and if camped near a river, fresh water. Aboriginal rainforests groups employ as range of shelter types but were mostly dome shelters due to the rainy wet climate of the rest. The domes allow the water entry to be minimal and for the water to run off and not collect on the roof causing the hut to collapse. They built, permanent domes, temporary domes, windbreaks called yawn; especially in the large open spaces, shades which are called dyad, and others 1 . The construction of the domes varied from tribe to tribe. The scale in which they were built varied from a nuclear family housing size which are called Dugan, to large community size huts, dimmer. The larger domes spanned up to 9 meters in diameter 12. It was generally common for little families to be housed under one roof. These huts often held 30 people or more. Some had circular-based flooring and other oval-based 3. Figure : Dome Houses in Far north Australian Rainforests White, A. A, photographer. Photographer. Check. John Solely Library. (Accessed May 10, Some also had continuous framing members versus apex-fixed structural members. The village plan segregated the housing into groups. In one hut might be a family, one man and his wives and their many children, with fires within for cooking and warming. In other huts would serve a group of single men or a group of young girls Ewing chaperoned before marriage. This supplied the social interactions between people as they were pressured together especially during rainy times when going outside wasnt desirable. This was an important part of maintaining social interaction during the rainy periods. During these times, larger intersecting domes were more common, including extra-large domes for ceremonial activities. This also meant that the tribes structured their huts so that people could stand in them, move around and participate in activities, for both diurnal and nocturnal uses. 5 The framing for a mom huts is assembled first by implanting malleable young branches or lengths of lawyer cane in the ground of the circumference of the hut. They would then bend the branches over and tie them together with split cane. The frame would them appear as a series of crossed over hoops forming an unconventional dome shape. A drain is dug around the perimeter to prevent flooding and in turn washday of the cladding. The shelters were clad and thatched from palm leaves such as fan palms, cycad palms and wild banana as well as grass and malleable bark or a mixture of these. The mud was used with grass to waterproof the shelters. As concurrent with todays western society, the materials chosen to assemble the huts would have depended on what was available at the time due to seasonality. It also would have been impacted by the climate; dryer and hotter seasons would have called for lighter constructions and less clad, if any, would have been used to allow for wind flow. Conversely, harsher wetter climates would have needed a more robust hut to last through torrential rain and floods. Grass thatch was most effective cladding in stormy weather. Each layer of the frame was tied down with cane and the layers of thatch were often up to 2. 5 centimeters thick. 18 The indigenous society also made custom to the way the huts were constructed. When each hut was considered to be built, the woman would be the ones to clear the area of rocks, small trees and sticks before construction started. The men collected and assembled the frame of the dome, whilst the woman were in charge of collecting and setting up the cladding. It was also the woman whom fixed the holes in the roof if the weather had caused. 9 The Mare is he central architectural structure is modern Maori life. Its purpose, location and even existence in pre-European New Zealand settlement has always been an element of importance in tradition Maori lifestyles. The settlements typically focused on a community building, the meeting house, with an associated open space which is the Mare, a minimal building form. It acted as a place for social meetings and institutions, importan tly the teaching of traditional knowledge. It was the social and ceremonial core of the village. However, the term, Mare, in Maori language is referred to in two senses. Firstly, as an open space used for assembly and reserved for that reason, and secondly as still the open space but combined with a shelter to form the meeting house. The Maori, similarly to the Australian indigenous tribes, recognized the importance of community living . They viewed the Mare as a community home and was far more significant than the individual family home. The the sky. It is located in the natural landscape so that it faces outwards to open elements such as the sea or an open plain. It is backed by hills and mountains and runs parallel to the rivers. A mare must have a meeting house which tends to always be facing openness. To the Maori, the mare is not Just a shelter. It is a story house, a wake, a house, a rectangular gabled building with a porch that moderated the extremes of the weather and oppressive smoke-filled insides. Most mare had one main fire, which was kept alive for all time. It was known as the aha-aka-roar which means long burning fire and it signified the on-going life of that mare. It was never extinguished as the living flame represented the man, the power, of the tribe. 4 The front of the Mare was often marked by embellishments of carving, curvilinear rafter tatter painted in black, red and white with lattice-work panels on the walls. It ranged from 12 to 30 meters long and the size and ornamentation of the meeting house usually reflected the man of the group. As the Maori first originated from Polynesia, their building forms and techniques quickly adapted to suit the cooler climate and different materials ava ilable. Roofs continued to be made of thatch but were considerably lower to retain heat. Polynesian architecture didnt require walls, an idea that was also changed to adapt to the climate. The walls were lattice thatching that never held the weight of the roof. As the new Maori cultural architecture developed, seasonal villages came to the forefront. The building that they created have similar structure to that of the Aboriginal domes. They too are made of cladding of branches, leaves and bark. Although they instead had rectangular bases not circular, the roofing and wall structure resembled that of the dome shape. Their sleeping houses, where punt, consisted of a gable roof, front porch and central internal fire, also comparable to the aboriginal sleeping domes. However, the Maori construction did not allow people to stand inside. The where punt was equipped with a sliding door which was closed at night to enclose heat and a small opening above and to the side of the door to provide ventilation. The porch was commonly used for eating, sleeping on warm night and relaxation. Figure : Mare and dome like sleeping houses of the Maori Tribe in New Zealand Foss Leach, sketcher. Sketch. Check. Museum of New Zealand Et Papa Teenagers. (Accessed May 10, 2014) It is sometimes refreshing to look back on the simplistic lifestyle of the pre-colonial indigenous tribes of both far north Australia and New Zealand. We can see through their minimalist architecture that their respect and understanding of their environment was vast. From the rainforests groups of north Australia, we see that their creation of dome shelters varied due to climate, materials and use in the same way as modern architecture varies now only that the care and conservation for the place that they live in monumental. They understand the value community lifestyles hold and mould their architecture to accompany this idea by creating large conjoining domes to facilitate lots of people.

About the Balfour Declaration of 1917

About the Balfour Declaration of 1917 The Balfour Declaration was a November 2, 1917 letter from British Foreign Secretary Arthur James Balfour to Lord Rothschild that made public the British support of a Jewish homeland in Palestine. The Balfour Declaration led the League of Nations to entrust the United Kingdom with the Palestine Mandate in 1922. Background The Balfour Declaration was a product of years of careful negotiation. After centuries of living in a diaspora, the 1894 Dreyfus Affair in France shocked Jews into realizing they would not be safe from arbitrary antisemitism unless they had their own country. In response, Jews created the new concept of political Zionism in which it was believed that through active political maneuvering, a Jewish homeland could be created. Zionism was becoming a popular concept by the time World War I began. World War I and Chaim Weizmann During World War I, Great Britain needed help. Since Germany (Britains enemy during WWI) had cornered the production of acetone- an important ingredient for arms production- Great Britain may have lost the war if Chaim Weizmann had not invented a fermentation process that allowed the British to manufacture their own liquid acetone. It was this fermentation process that brought Weizmann to the attention of David Lloyd George (Minister of Ammunitions) and Arthur James Balfour (previously the Prime Minister but at this time the First Lord of the Admiralty). Chaim Weizmann was not just a scientist; he was also the leader of the Zionist Movement. Diplomacy Weizmanns contact with Lloyd George and Balfour continued, even after Lloyd George became prime minister and Balfour was transferred to the Foreign Office in 1916. Additional Zionist leaders such as Nahum Sokolow also pressured Great Britain to support a Jewish homeland in Palestine. Although Balfour, himself, was in favor of a Jewish state, Great Britain particularly favored the declaration as an act of policy. Britain wanted the United States to join World War I and the British hoped that by supporting a Jewish homeland in Palestine, the world Jewish community would be able to sway the U.S. to join the war. Announcing the Balfour Declaration Though the Balfour Declaration went through several drafts, the final version was issued on November 2, 1917, in a letter from Balfour to Lord Rothschild, president of the British Zionist Federation. The main body of the letter quoted the decision of the October 31, 1917, British Cabinet meeting. This declaration was accepted by the League of Nations on July 24, 1922, and embodied in the mandate that gave Great Britain temporary administrative control of Palestine. The White Paper In 1939, Great Britain reneged on the Balfour Declaration by issuing the White Paper, which stated that creating a Jewish state was no longer a British policy. It was also Great Britains change in policy toward Palestine, especially the White Paper, that prevented millions of European Jews to escape from Nazi-occupied Europe to Palestine before and during the Holocaust. The Balfour Declaration Foreign OfficeNovember 2nd, 1917Dear Lord Rothschild,I have much pleasure in conveying to you, on behalf of His Majestys Government, the following declaration of sympathy with Jewish Zionist aspirations which has been submitted to, and approved by, the Cabinet.His Majestys Government view with favour the establishment in Palestine of a national home for the Jewish people, and will use their best endeavours to facilitate the achievement of this object, it being clearly understood that nothing shall be done which may prejudice the civil and religious rights of existing non-Jewish communities in Palestine, or the rights and political status enjoyed by Jews in any other country.I should be grateful if you would bring this declaration to the knowledge of the Zionist Federation.Yours sincerely,Arthur James Balfour

Alexandria Ocasio-Cortez Bio

Alexandria Ocasio-Cortez Bio Alexandria Ocasio-Cortez is an American politician and former community organizer. Her embrace of democratic socialism and economic, social, and racial justice  issues earned her a large following among fellow progressive millennials, which propelled her to a seat in the U.S. House of Representatives. Her ascent is noteworthy because she defeated the fourth-highest ranking Democrat in Congress and became the youngest woman elected to the House. Fast Facts: Alexandria Ocasio-Cortez Occupation: Member of the U.S. House of Representatives from New YorkNickname: AOCBorn: Oct. 13, 1989, in Bronx County, New York City, New YorkParents: Sergio Ocasio (deceased) and Blanca Ocasio-CortezEducation: B.A. in Economics and International Relations, Boston UniversityKnown For: Youngest woman elected to Congress. She was 29 when she took office in January 2019Interesting Fact: Ocasio-Cortez worked as a waitress and bartender before running for CongressFamous Quote: â€Å"Where did I get off? I mean, I’m going to tell people that I, as a waitress, should be their next congresswoman?† Early Life Ocasio-Cortez was born in New York on Oct. 13, 1989, to Sergio Ocasio, an architect raised in South Bronx, and Blanca Ocasio-Cortez, a native of Puerto Rico who cleaned houses and drove a school bus to help the family pay the bills. The couple met when he was visiting family in Puerto Rico; they married and moved to a working-class neighborhood in New York City. Both parents had been born into poverty and wanted their daughter and son, Gabriel Ocasio-Cortez, to have more prosperous childhoods. The family eventually relocated from New York City to a wealthy suburb, Yorktown Heights, where they lived in a modest home and sent Alexandria Ocasio-Cortez to a mostly white high school, where she excelled. Ocasio-Cortez graduated from Yorktown High School in 2007 and entered Boston University, initially studying biochemistry. She got her first taste of politics by volunteering to make phone calls for Democrat Barack Obamas successful 2008 presidential campaign. Her life changed dramatically, though, when her father was diagnosed with lung cancer while she was at college. Ocasio-Cortez said her fathers death her sophomore year forced her to put all of her energy into school. The last thing my father had told me in the hospital was ‘Make me proud,’ she said in an interview with The New Yorker. I took it very literally. My G.P.A. skyrocketed.† After her fathers death, Ocasio-Cortez shifted gears and began studying economics and international relations. She graduated with a bachelor of arts degree from Boston University in 2011. By that time she had also stepped back into politics, working part-time through college in the Boston office of U.S. Sen. Ted Kennedy, the so-called liberal lion and surviving member of the Kennedy political dynasty. The 2016 Campaign and a Career in Politics After college, Ocasio-Cortez worked as a waitress and bartender. She became involved in politics at the national level in the 2016 Democratic primaries, when she canvassed for U.S. Sen. Bernie Sanders of Vermont, the Democratic Socialist who unsuccessfully sought the presidential nomination against former Secretary of State Hillary Clinton. After Sanders lost, like-minded Democratic Socialists began recruiting candidates to run for the House and Senate as part of an effort called Brand New Congress. In the fall of 2016, as Republican Donald Trump was heading toward a stunning electoral upset over Clinton, Ocasio-Cortezs brother sent an application to the group on her behalf, and her campaign for Congress was born. Like Sanders, Ocasio-Cortez supports such proposals as free public college and guaranteed family leave. A marcher holds a sign that say, If Youre Scared of Me, You Are The Problem with an image of Alexandria Ocasio-Cortez Democratic of the 14th congressional district of the House Of Representatives in front of Trump International Hotel during the Womans March in the borough of Manhattan in NY on January 19, 2019. Ira L. Black - Corbis / Getty Images In the June 2018 Democratic primary, Ocasio-Cortez soundly defeated U.S. Rep. Joseph Crowley, who had amassed a great deal of influence not just in his district but among his partys congressional leadership over two decades. Ocasio-Cortez went on to defeat a Republican, college professor Anthony Pappas, in the fall election to take the seat representing New York states solidly Democratic 14th Congressional District, which is centered in New York City and covers parts of the Bronx and Queens boroughs. Nearly half the residents of the district are Hispanic, and fewer than 20 percent are white. At age 29, she became the youngest woman to win a House seat. The youngest person elected to Congress was William Charles Cole Claiborne of Tennessee, who was 22 when he began serving in 1797. Democratic Socialist Ideology Ocasio-Cortez has championed economic, social, and racial justice in the House. In particular, she has taken on the issues of wealth disparity and the treatment of undocumented immigrants in the United States. She proposed taxing the wealthiest Americans at income-tax rates of as much as 70 percent; called for the abolition of U.S. Immigration and Customs Enforcement, the Homeland Security agency that arrests and deports people living in the United States illegally; and pushed for the elimination of for-profit prisons. U.S. Rep. Alexandria Ocasio-Cortez (D-NY) speaks as Sen. Ed Markey (D-MA) (R) and other Congressional Democrats listen during a news conference in front of the U.S. Capitol February 7, 2019 in Washington, DC. Sen. Markey and Rep. Ocasio-Cortez held a news conference to unveil their Green New Deal resolution. Alex Wong / Getty Images Her most ambitious policy proposals were contained in the so-called Green New Deal, which she said is designed to combat climate change by shifting the energy portfolio in the United States away from fossil fuels to all renewable sources such as wind and solar within 12 years. The Green New Deal also proposed non-energy moves such as a job guarantee program to assure a living wage job to every person who wants one,† as well as universal health care and a basic income. Much of the new spending to fund those programs would come from higher taxes on the wealthiest Americans. Many political observers have suggested that Ocasio-Cortez- whose campaign was funded by small donors and not corporate interests, and whose agenda sets her apart from the establishment members of the Democratic Party- has replaced Sanders as the de facto leader of the left. Sources Remnick, David. â€Å"Alexandria Ocasio-Cortezs Historic Win and the Future of the Democratic Party.† The New Yorker, The New Yorker, 17 July 2018, www.newyorker.com/magazine/2018/07/23/alexandria-ocasio-cortezs-historic-win-and-the-future-of-the-democratic-party.Chappell, Bill, and Scott Neuman. â€Å"Who Is Alexandria Ocasio-Cortez?†Ã‚  NPR, NPR, 27 June 2018, www.npr.org/2018/06/27/623752094/who-is-alexandria-ocasio-cortez.ï » ¿Wang, Vivian. â€Å"Alexandria Ocasio-Cortez: A 28-Year-Old Democratic Giant Slayer.†Ã‚  The New York Times, The New York Times, 27 June 2018, www.nytimes.com/2018/06/27/nyregion/alexandria-ocasio-cortez.html.The Intercept. â€Å"A Primary Against the Machine: A Bronx Activist Looks to Dethrone Joseph Crowley, the King of Queens.†Ã‚  The Intercept, 22 May 2018, theintercept.com/2018/05/22/joseph-crowley-alexandra-ocasio-cortez-new-york-primary/.

Risk and risk management in Jordanian banking Dissertation

Risk and risk management in Jordanian banking - Dissertation Example The paper tells that recent global economic slump is considered as not only being the first global economic downturn of the 21st century, but it is also considered as a new ‘risk’ face by the global society coming from ‘unknown unknowns’ of which available information are insufficient in shedding light. Nevertheless, it should be noted, the global economic slowdown can be approached and analysed using several perspectives and it involves a whole gamut of issues that are intertwined, not just single direct cause. In light of this condition, as this research will deal with risk and risk management, it will primarily focus on operational risk management in Jordanian banking sector. Operational management and operational risks have long been part of the life cycle of businesses, especially in the banking industry. Generally, it seeks to address the risks arising from the day-to-day operations of the banks. As such, operational risks management deals with non-fin ancial risks, which when left unattended, are proven catastrophic not only for the banks, but for the entire global community. This situation highlights the urgency to give further clarification regarding the idea of operational risks and operational risks management so that a better understanding of its implications of in the banking sector can be achieved. It holds the position that gaining better understanding of operational risks management in Jordanian banking sector provides solid foundation, with which, its implications can be transformed in to valuable information and policies to counter operational risks. 1.2. Background of the Study Operational risks management is new (Petria & Petria, 2009), but operational risks are not. The inclusion of and explication of operational risks and operational risk management in Basel II Accord categorically show the integral importance of operational risks management in the banking sector. Since, Basel II now proposes a more stringent manag ement structure, tools and processes in addressing operational risks (Medova, 2000). The conceptual frame together with the events create the paradigm wherein the significance of a more coherent and systematic approach to operational risks becomes necessary in the banking se

Teaching English to new arrival immigrants is problematic Research Paper - 1

Teaching English to new arrival immigrants is problematic - Research Paper Example One of the mishaps is that the immigrants make the language as a second language. The instance, therefore, creates the need to understand the background of the students and the consequent effects that the background has on a new course. Moreover, a prior analysis of the various misconceptions that learners have towards learning a second language is crucial with the aim of establishing the best of course of action. Other factors that may be of help in teaching English to immigrants is the consideration of the processes that involve the knowledge of English and consequently comprehend the wider scope that represents the cultural and social issues. The issues that shape up the acquisition of the English language by the immigrants is thus are a constituent of the essay. The article also articulates on the different solutions that are relevant in the complex process of the language learning. A summary appears at the completion of the document in an instance of giving a preview of the whol e document. Misconceptions misrepresent the needs of immigrant students and present simplistic approaches to second language learning and complicate the process of teaching and learning English. If students communicate in English, they have competence to use language in mainstream courses. Educators sometimes assume that if immigrant students can communicate in everyday life, they can have the competence to use language in an every variety of settings, especially mainstream course of English. However, there are gaps between everyday communication and mainstream courses language use for the second language learners (Cacden, 1988). These gaps occur because there are differences between home based and course-based value system and knowledge. Such Differences between home and English courses lead to difficulties for English language learners to access to academic and mainstream course language (Tharp & Gallimore, 1988). Based on this misconception, immigrant

Tristan Bernards Im Going Essay Example for Free

Tristan Bernards Im Going Essay According to The Hutchinson Unabridged Encyclopedia literature is, â€Å"Words set apart in some way from ordinary everyday communication. In the ancient oral traditions, before stories and poems were written down, literature had a mainly public function mythic and religious. As literary works came to be preserved in writing, and, eventually, printed, their role became more private, serving as a vehicle for the exploration and expression of emotion and the human situation. † Literature enables us to develop our minds analytically and promotes open minds. We can see the world through the eyes of different writers from different cultures and in turn learn to better handle certain scenarios in our own lives. It allows the reader to escape to a different world temporarily. In Tristan Bernard’s I’m Going! , it shines a light on an issue that is true with many couples all over the world and in all times. I liked it for the fact that is like a genre of comedies with a social message. This play is relatable to many people in the world. Unlike other works in our textbook, this play seems to have a specific issue that many couples relate to, lack of communication. In this paper, I will critique parts of this works using the reader’s response approach, the lacks of communication brought upon by the main characters and support it with evidence. I always understood the fact that we humans are essentially the same everywhere in the world. We have similar ambitions and dreams. We want and hope for mostly the same things for our families and us. I was intrigued by Bernard’s play, I’m Going! As it shows us clearly how not only couples dynamics are similar but even that most couples mistakes and arguments are similar as well. In this case, the lack of communication comes across in every point made by Henri and Jeanne. It shows us a satirical look on how communication should be effective and the misunderstandings that keep occurring with this couple. Their ineffective communication could lead to a horrible life and a game of cat and mouse that seems endless. (Clugston, 2010) I have seen many Henris’ and Jeannes’ throughout my growing up and the solution seemed always to be clear to all, except to the couple in question. In the play, Henri would never admit his obsession and addictions to his wife Jeanne. Due to the nature of their relationship, it seems his pride won’t let him open up to his partner. Instead, he tries to keep a persona that is much stronger and able than he is. Jeanne, on the other hand, does not have a clue how to persuade her husband to spend more time with her as well as abandon the habit of gambling and going to the races so often. They clearly avoid the subject until it’s time for the race again. Jeanne exhibits some fear of her husband, as well as not knowing what to do, when Henri states any excuse to have an argument avoiding the true problem. He states all the fake issues and fake reasons†¦Jeanne’s fast walk, the financial cost of her joining him to watch the races, and even the weather, all in an attempt to persuade Jeanne not to go with him. On the other hand, Jeanne does not seem to know how to face her husband or convince him reasonably why he should not go to the races anymore. She tries delicately to make it about her and his lack of effort to spend time with her. The reality is that Henri needs time for himself like everybody and needs to quit these races as a responsible head of family should know. On line 157 of I’m Going, Henri shows that us that he does love his wife but that he also is trying to outsmart her by saying just enough to keep her quiet on the matters at hand so he can enjoy the races with no consequences at home or on his own conscience. (Clugston, 2010) I like this play and the subject matter brought up. I did wish, however, to see more comedic lines to make the point even stronger. Lack of communication could be the demise of any couple in the long term and that message could have been even more emphasized. I believe this play pointed at one of the most dangerous issues couples go through in all times and places. This play reinforces the importance of communication and the importance of opening up to your other half and partner in life is a necessity. Since the first chapter, our textbook has asked us to â€Å"connect† with literature. It was asked of us to find a personal link to a story, poem or play. While examining I’m Going, I chose the reader response approach. This approach encourages, through the use of specific prompts, the readers to have personal interactions with the text, personal experiences and prior knowledge. (Kelly, 1989) This comedy uses the imagination and humor in a very smart way. It forces us to open our mind and heart to an issue that not all couples are even able to pin point. Humor can educate us about very serious matters that other types of art, schools or even life experiences may not be able to get through. With Henri and Jeanne’s ineffective communication, it brings to light other issues instead of the one at hand. They focus on other issues but if they focused on communication, they may be able to repair their relationship. Without acknowledgement of the true issue, only time can tell how long they can make it last.

Environmental Effects of Fossil Fuels Essay -- Essays Papers

Environmental Effects of Fossil Fuels Besides food, fossil fuels are our most important resource. According to www.bydesign.com, there are three major resources. These resources are coal, oil and natural gas. The environmental impact of fossil fuel usage affects us greatly as individuals and as a global community. Coal causes much damage to our environment. Coal extraction is a serious cause of water pollution. Coal is used primarily to produce electricity. Coal releases nitrous oxide when it is burned. Nitrous oxide unfortunately stays in the atmosphere for a long time. Because this is kept in the atmosphere for such a long time it is very difficult to see or predict the harmful effects of this gas. Nearly fifty percent of the nitrogen oxide in the atmosphere is directly produced by coal. According to www.eia.gov the US energy supply and demand predicts that annual coal usage will increase from 1146 million short tons to 1175 million short tons. This means that the environmental detriments from coal usage will only increase. Currently, there is no sure way to relieve the environmental stressors caused by coal. However, for me, personally, this is a relief. This is relieving because my father owns a small family business that sells mulch and driveway stone. During the winter months, his busine ss depends on coal sales. In the past few decades, household usage of coal has decreased significantly due to the growing availability and convenience of other fuels. I do not believe that this statistic indicates that the average for household usage will increase, but it is encouraging to hear that coal will not disappear anytime soon. Oil is another one of the fossil fuels to which many of my father’s previous customers are conv... ...vironment. Overall, fossil fuels have major impact on our environment. Our energy choices leave lasting impacts on the lives of plants, animals and ourselves. Many health and physical concerns can be linked to fossil fuel usage. Hopefully, by reducing our energy consumption we will be able to protect our lives and lives of those to come. Works Cited About Fossil Fuel. 19 Feb 2004. 29 Mar. 2005 http://www.bydesign.com/fossilfuels/links/html/fossil_fuel.html>. Natural Gas and the Environment. 2004. Naturalgas.org. 29 Mar. 2005 http://www.naturalgas.org/environment/naturalgas.asp>. Restoring the Resources. Exxon Valdez Oil Trustee Council. 29 Mar. 2005 http://www.evostc.state.ak.us/facts/prevention.html>. "Short Term Energy Outlook." Short-Term Energy Outlook – March 2005. 8 Mar 2005. 29 Mar. 2005 http://www.eia.doe.gov/emeu/steo/pub/contents.html>. Environmental Effects of Fossil Fuels Essay -- Essays Papers Environmental Effects of Fossil Fuels Besides food, fossil fuels are our most important resource. According to www.bydesign.com, there are three major resources. These resources are coal, oil and natural gas. The environmental impact of fossil fuel usage affects us greatly as individuals and as a global community. Coal causes much damage to our environment. Coal extraction is a serious cause of water pollution. Coal is used primarily to produce electricity. Coal releases nitrous oxide when it is burned. Nitrous oxide unfortunately stays in the atmosphere for a long time. Because this is kept in the atmosphere for such a long time it is very difficult to see or predict the harmful effects of this gas. Nearly fifty percent of the nitrogen oxide in the atmosphere is directly produced by coal. According to www.eia.gov the US energy supply and demand predicts that annual coal usage will increase from 1146 million short tons to 1175 million short tons. This means that the environmental detriments from coal usage will only increase. Currently, there is no sure way to relieve the environmental stressors caused by coal. However, for me, personally, this is a relief. This is relieving because my father owns a small family business that sells mulch and driveway stone. During the winter months, his busine ss depends on coal sales. In the past few decades, household usage of coal has decreased significantly due to the growing availability and convenience of other fuels. I do not believe that this statistic indicates that the average for household usage will increase, but it is encouraging to hear that coal will not disappear anytime soon. Oil is another one of the fossil fuels to which many of my father’s previous customers are conv... ...vironment. Overall, fossil fuels have major impact on our environment. Our energy choices leave lasting impacts on the lives of plants, animals and ourselves. Many health and physical concerns can be linked to fossil fuel usage. Hopefully, by reducing our energy consumption we will be able to protect our lives and lives of those to come. Works Cited About Fossil Fuel. 19 Feb 2004. 29 Mar. 2005 http://www.bydesign.com/fossilfuels/links/html/fossil_fuel.html>. Natural Gas and the Environment. 2004. Naturalgas.org. 29 Mar. 2005 http://www.naturalgas.org/environment/naturalgas.asp>. Restoring the Resources. Exxon Valdez Oil Trustee Council. 29 Mar. 2005 http://www.evostc.state.ak.us/facts/prevention.html>. "Short Term Energy Outlook." Short-Term Energy Outlook – March 2005. 8 Mar 2005. 29 Mar. 2005 http://www.eia.doe.gov/emeu/steo/pub/contents.html>.

Certificate in Financial Maths & Modelling Syllabus

Certificate in Financial Maths & Modelling Syllabus Overview The Certificate in Financial Maths & Modelling provides a rigorous and integrated set of quantitative tools to understand and ex plain financial instruments, financial risk and corporate value and the fundamentally important relationship between them. The emphasis throughout is on t he practical modelling of real life problems and opportunities. Techniques such as no-arbitrage pricing, duration, convexity and portfolio analysis – including the trade-off between risk and return – are explained and applied. The course analyses the use of options for financial risk management, and the valuation of different types of option using binomial pricing models, the Black Scholes model and other techniques. It also int roduces and applies Value at Risk measures, their potential us es and their limitations. Study Unit 1 – Fundamental concepts in financial maths and modelling Study Unit 1 introduces the fundamental concepts of financial maths and modelling in the five areas of: interest rat e mathematics; modelling the values of a series of fixed or growing future cashflows; modelling the term structure of int erest rates using no arbitrage relationships; selected issues in probability and statistical models; and modelling the maths of Value at Risk. Study Unit 2 – Modelling the maths of debt Study Unit 2 looks at modelling the maths of debt in the main areas of: present values, fut ure cash flows, timing and risk; and interest rat e sensitivity and duration models, in particular value relationships with respect to yield, maturity, coupon rate and coupon frequency. Study Unit 3 – Modelling the maths of foreign exchange Study Unit 3 introduces the c oncepts of modelling t he maths of foreign exchange in the four areas of: quoting conventions; hedging using forward foreign exchange cont racts; the relationships bet ween foreign exchange rates, interest rates and inflation rates and applying VaR to foreign exchange risk management. Study Unit 4 – Modelling the maths of derivatives Study Unit 4 covers the maths and modelling of derivatives in t he two areas of: int roduction to derivatives mathematics; and modelling capital market swap mathematics. Study Unit 5 – Modelling the maths of options Study Unit 5 covers the maths and modelling of options in the four areas of: option payoff mathematics; option payoff maths in the context of hedging; option valuation modelling; and options arbitrage and the put-call parity relationship. Study Unit 6 – Modelling the maths of portfolios and corporate finance Study Unit 6 introduces the fundamental concepts of modelling the maths of port folios and corporate finance in the t wo areas of: modelling port folios – analysis of risk and return, and modelling for corporate finance – corporate valuation and the impact of changing capit al structure. Association of Corporate Treasurers (01. 04. 11, subject to change) Study Unit 1 – Fundamental concepts in financial maths and modelling Unit introduction 1. 0. 1 Notation and rules of algebra 1. 0. 2 Financial modelling Section 1 – Interest rate mathematics 1. 1. 1 Interest calculations and quoting convention s 1. 1. 2 The time-value relationship Section 2 – Modelling values of a series of future cashflows 1. 2. 1 Infinite series cashflows (perpetuities) and their valuation 1. 2. Finite series cashflows (annuities) and their valuation Section 3 – Modelling the term structure of interest rate s: no arbitrage relationships 1. 3. 1 Zero coupon, forward and par structures of interest rates: different forms of yield curves 1. 3. 2 No arbitrage relationships between zero coupon, forward and par rates Section 4 – Probability and stati sti cal models: selected issue s 1. 4. 1 Measures of central location (or central tendency), dispersion and correlation 1. 4. 2 Frequency distributions in theory and in practice Section 5 – Modelling the maths of Value at Risk 1. . 1 Modelling the maths of Value at Risk for single risks 1. 5. 2 Extending the modelling of Value at Risk Study Unit 2 – Modelling the maths of debt Section 1 – Short term debt 2. 1. 1 Short term debt issuers, market participants and market conventions 2. 1. 2 Calculation of interest and valuation of short term debt instruments Section 2 – Longer term debt 2. 2. 1 Analysis and valuation of bonds 2. 2. 2 Real interest rates and inflation indexing Section 3 – Interest rate sensitivity and duration models 2. 3. Duration and int erest rat e price sensitivity, relative and absolute measures 2. 3. 2 Interest rate immunisation, convexity and modified convexity Study Unit 3 – Modelling the maths of foreign exchange Section 1 – Foreign exchange mathematics 3. 1. 1 Converting between currencies: using spot foreign exchange rates 3. 1. 2 Converting between currencies: determining and using forward foreign exchange rat es 3. 1. 3 The maths of foreign exchange risk management 3. 1. 4 Applying Value at Risk to foreign exchange risk management Study Unit 4 – Modelling the maths of derivatives Section 1 – Introduction to derivative s mathematics 4. 1. 1 Payoffs for fixing derivatives and options 4. 1. 2 The maths of FRAs: cashflows, hedging, valuation and basis risk 4. 1. 3 Futures contracts: cashflows, hedging and valuation Section 2 – Modelling swap mathematics 4. 2. 1 The maths of capital market swaps including interest rate swaps 4. 2. 2 The maths of cross-currency interest rate swaps  © Association of Corporate Treasurers (01. 04. 11, subject to change) Study Unit 5 – Modelling the maths of options Section 1 – Option payoff mathematics 5. 1. 1 Payoffs from trading strategies with single options 5. 1. 2 Payoffs from trading strategies involving more than one option Section 2 – Option payoff maths: hedging and hedged results achieved 5. 2. 1 Hedging a portfolio: options plus underlying asset/(liability) 5. 2. 2 Hedging corporate exposures with options Section 3 – Option valuation modelling 5. 3. 1 Binomial option valuation models 5. 3. 2 Black Scholes option pricing model 5. 3. 3 Arbitrage and the put-call parity relationship Study Unit 6 – Modelling the maths of portfolios and corporate finance Section 1 – Modelling portfolios: analysi s of ri sk and return 6. 1. 1 Modelling simple port folios: analysis of risk and return 6. 1. 2 Modelling multi-asset port folios & portfolios including liabilities Section 2 – Modelling for corporate finance 6. 2. 1 Modelling the cost of corporate capital 6. 2. 2 Modelling the relationship between corporate value and capital structure 6. 2. 3 Modelling corporate valuation  © Association of Corporate Treasurers (01. 04. 11, subject to change)

Paracrisis Essay

Communication is faster than ever due to the advent of the Internet and social media which are venues for forum, interaction and information/issue dissemination, Today, nearly half a billion people around the world utilize the Internet. In the United States alone, about 155 million Americans access the Internet at home, with some citizens accessing the Internet only at work. Internet use by consumers in other countries, especially Japan (49 million users), the United Kingdom (29 million), Germany (36 million), Brazil (25 million) and France (31 million), has escalated rapidly. (Ferrell, Thorne, & Ferrell, 2012). The increasing number of Internet users warrant firms’ closer attention to and effective management of paracrises. In particular, Nestle’s case in 2010 exemplifies the need to respond pro-actively to social media attack initiated by Greenpeace rather than by not acknowledging the challenge or fighting back against the challenge. If not properly and timely addres sed, this may result to a web of chaos for Nestle. Greenpeace is a global campaigning organisation that enhances to change attitudes and behaviour of people in order to protect and conserve the environment. (About Greenpeace, n.d.) The reputational threat instigated by Greenpeace stemmed from Nestle’s weak stakeholder/customer relations which is a factor in selling products/services, one of the seven basic functions of marketing. Though it is true that supplier contracts including one with Sinar Mas Group should have been reviewed at the onset to check if these are aligned to the company’s social responsibility mandate, the paracrisis could have been immediately addressed should management responded to every single complaint in its social media. Based on my analysis, in general, Nestle’s performance in individual functional areas of business is strong. Financial performance is outstanding as group sales and earnings before income tax (EBIT) per its 2010 Annual Report are increasing from CHF 107,618 million to CHF 109,722 million and CHF 15,699 million to CHF 16,194 million in 2009 to 2010. It was also able to manage company’s debt as net financial debt was reduced to CHF 18,085 milli on to CHF 3,854 million which now only comprised 6.2 percent of equity from the staggering 37 percent in 2009. On the marketing side, Nestle is a well-known brand all  over the world, in fact, number 1 in the food industry offering diverse products. Other functional areas of Nestle including operations, research and development, information systems per my research and analysis, are performing effectively. On the external factor aspect, based on my analysis, firm’s strategies take advantage of the existing opportunities and minimize potential adverse effects of threats. First, food (and beverage) industry is observed to be resilient vis-à  -vis other industries during and immediately after the global economic crisis in 2008. The economic value has had an opposite impact on food and beverage industry. The major concern of these industries is increasing transportation costs for which people have to spend. Nevertheless, the food and beverage industry has been relatively less affected when compared to other industries. This is mainly attributed to the fact that food products continue to be essential to consumers in spite of the slowdown. A comparison between the S&P 500 and the Dow Jones US Food and Beverage Index in 2008 is testimony to the resilient nature of this industry. In 2008, the S&P 500 declined 37.6 percent against a fall of 22.9 percent by the Dow Jones US Food and Beve rage Index. (IMAP, 2010). Second, people are becoming more health-conscious and are now demanding nutritious products in which Nestle has the capability to produce. Company’s response to these major opportunities is superior. However, reputational attack initiated by Greenpeace could damage Nestle’s franchise value and could result in loss of business and consumer trust. Though Nestle could have adopted the following mutually exclusive strategies to respond to paracrisis – repentance, refutation and refusal, it is apparent that repentance, a reform strategy will create a harmonious relationship with its stakeholders, hence, the best or the only feasible paracrisis strategy response. Damage to franchise value caused by increasing trajectory of the paracrisis outweighs the cost of changing organizational practices (change supplier) to reflect the demands of Greenpeace. The combined effect of the voices not only from Greenpeace but also from specialist media and mainstream media and commentary on multiple blogs will be damaged reputation and loss of business. Adopting the refutation and refusal strategies will only create organizational hiatus and worst, crisis. Now that repentance is deemed most feasible, the following independent courses of actions could be employed by the crisis management team at the  point of view of marketing communicatio ns and public relations: 1. Filter pressing and critical issues for appropriate action of Board of Directors and/or Senior Management while attending to minor issues; 2. Resolve all issues – critical or not at their level and respond to these issues through social media in an appropriate and timely fashion; 3. Respond only to issues deemed critical. The first alternative course of action is deemed most feasible. Critical issues could be discussed at the top level of the organization giving the Board and Senior Management the opportunity to carefully review them and adjust company strategies, if necessary. Board and Senior Management sets the tone at the top and has the ultimate responsibility in running the business, hence, they should be fully aware of these critical issues. The crisis management team, on the other hand, should timely and appropriately respond to all issues – critical or not, with an end of assuring its stakeholders that these issues are being resolve d by the company. Minor issues can then be resolved at their level. The public should be made aware, implied or expressed, that the company is taking actions and is responsive to customer/stakeholders’ concerns. My recommendation to address the company’s central problem as mentioned in the above paragraph should be complemented by medium to long-term action plans which includes strengthening its stakeholder relations program; and annual or periodic review of company’s adherence to its mission and vision statements, strategies and business principles. First, stakeholder relations program should be strengthened by keeping community relations at the highest level, improving the customer climate, and maintaining good public image. The â€Å"Be redundant and sprawl† rule is highly applicable to prevent a crisis from happening in this particular case of Nestle. Posting articles on its commitment to social responsibility on different sites including its own website will help the company to vindicate itself from any gross reputati onal attack. Nestle should as well develop a comprehensive and effective communication and marketing strategy. Second, conducting an annual or periodic review of company’s adherence to its mission and vision statements, strategies and business principles will save the company from dealings that may taint company’s reputation. Nestle is committed to its business principles in all countries, taking into account local legislation, cultural and religious practices which include supplier and customer  relations. Nestle require its suppliers, agents, subcontractors and their employees to demonstrate honesty, integrity and fairness and to adhere to its non-negotiable standards. In the same way, Nestle is committed towards its own customers. (Nestle’s Corporate Business Principles, n.d.). These business principles, more particularly supplier and customer relations, should be reviewed not only on first dealings but on a continuous basis. Nestle’s objective is to be the recognized leader in nutrition, health and wellness and the industry reference for financial performance. (Nestle Annual Report, 2010) Remaining at the number 1 spot in the food industry busily catering to customer orders and demands while projecting mounting sales and profits could have prevented Nestle from responding to social media campaigns against irresponsible sourcing of palm oil. Apparently, Nestle failed to live by its dogma of social responsibility. Notwithstanding its desire to be viewed as socially responsible, it was not the actual picture then. Nestle was callous to people’s call for reform until it grew and became a sensation. Nestle should have an effective management team to manage paracrises or reputational threats. Everything seems so stable in an organization like Nestl e, but its management should not discount the fact the power of its stakeholders to cause reputational threat. Bibliography (2010). Nestle Annual Report. Ferrell, O. C., Thorne, D. M., & Ferrell, L. (2012). Social Responsibility and Business. Singapore: Cengage Learning. IMAP. (2010). Food and Beverage Industry Global Report. About Greenpeace. (n.d.). Retrieved from Greenpeace International: http://www.greenpeace.org/international/en/about/ Nestle’s Corporate Business Principles. (n.d.). Retrieved from Nestle: http://www.nestle.com/aboutus/businessprinciples

Securitisation Essay Example

Securitisation Essay Example Securitisation Essay Securitisation Essay Securitisation is a process of pooling in and transferring a cash-producing asset or receivable to a specially created investment vehicle. The bank which sells the assets is known as the originator and the purchaser of the cash-producing asset is known as the SPV (special purpose vehicle) or the transferee. As a result of the purchase, the SPV issues bonds to the originator based on the financial assets. These bonds are also known as asset-backed security (ABS) in capital markets. This helps the originator to realize the value of the cash-producing asset immediately, by investing the issued bonds. It can also help the originator to remove debts from the company’s balance sheet. Securitisation would aid an originator in obtaining cheaper finances in distress situations, if the credit quality of the securitised assets is better than that of the originator. It would also free the originator from financial risks arising as a result of loan payment defaults by reducing reduces cred it risks.Even mortgage debts and consumer loans are considered to be cash-producing assets which are otherwise known as receivables. A bank will be exposed to financial risks resulting from loan defaults. When these financial risks are reported to the regulatory bodies, the ability of the bank to lend money to other clients will get restricted. When a bank adopts securitisation of its loans, it essentially sells these cash-producing assets, which enables it to uses the money effectively to make further investments. The financial gain acquired by investing the cash-producing assets is used to pay the interest pertaining to the bonds.The sale of cash-producing assets is usually legalised by a process called novation. This involves creating a new agreement between the new lender and borrower, thereby replacing the existing agreement between the original lender and borrower. Although the originator sells the assets to the transferee, the originator will receive a fee for managing the as sets, since it acts as an agent between the mortgager and the transferee, without bearing any financial risk.Any bank planning for the securitisation of a portfolio of loans has to plan for handling various legal issues that are bound to arise, especially when the transaction is a true sale.   When the transfer of the financial asset is a true sale, all the obligations and rights pertaining to the cash-producing asset gets transferred to the purchaser of the asset. The originator will have to prove that it is not at risk of payment defaults or insolvency[1]. Similarly, the SPV also should not be at risk of defaulting on its own obligations or becoming insolvent. It should also possess credit enhancement and adequate liquidity facilities to satisfy payment obligations within the necessary timeframe. These conditions are reflected by the credit ratings given by the respective agency. Higher credit ratings would encourage more investors to invest in the SPV.During the time of a true sale, the originator must own the receivables and the SPV should obtain a good title which proves that the receivables are factual, valid, enforceable and compliant with licencing and regulatory statutes. This is commonly known as re-characterisation risk since the originator continues to retain a few residual risks. However, the transaction should not be a secured financing wherein the originator pledges the receivables as a security to borrow sale proceeds from the SPV. Secured financing will not be treated as a true sale due to the lack of registration, resulting in accounting problems and other negative pledge infringements[2].In a true sale, the sale documentation includes provisions for further sale, originator’s insolvency, breach of warranties and an assignment of the receivables. The securitised assets would not become void when the originator faces insolvency or in the event of the receivables being sold undervalue[3]. During insolvency proceedings, the securitised assets can not be recovered by the originator’s receiver. The warranties would prevent third parties from exacting a competing ownership of the assets. The assignment can be either equitable or legal, according to English law[4]. Legal assignments usually require a notice to bring them into effect.   However, equitable assignments are commonly used since they can be made effective, even without notice to the debtor. However, issues pertaining to conflict of laws may arise in certain legal territories where equitable assignments are not recognised by law. This could possibly cause a negative impact on the transfer of future as well as existing assets.Over-collateralisation is a phenomenon wherein the value of receivables transferred by the originator to the SPV is greater than the funding provided by the investor. This is done in order to provide a buffer to the SPV at times of debtor defaults. This would also effectively increase the assets of the SPV and build up extra cas h flow. However, this extra value of the assets will remain as an outstanding due and accordingly adjusted during the termination of the securitization.When there are prohibitions on the assignment in the underlying debt contract, it causes a breach of contract and therefore becomes invalid according to the non-assignment clause[5]. According to Don King Productions v. Warren[6], the benefit of the contracts will hold good on the basis of trust for the partnership, even when one partner ends the contracts before winding up the contract.According to Re George Inglefield Ltd, goods and hire-purchase agreements would be treated as mortgages or charges of book debts, in the event of lack of registration[7].   Hence, these assignments claimed by a liquidator would be considered void. However, the liquidator claimed that the agreement was made for an out-and-out sale which did not require registration, thereby reversing the prior decision. The judicial decisions in the recent past have indicated that asset sales are not necessarily re-characterised as secured loans according to English law, as long as the rights and obligations associated with sale and purchase of these cash-producing assets are consistent.

Abortion Issue Essay Example for Free

Abortion Issue Essay ? Abortion is a controversial issue but it should be discussed because it is happening, and is more widespread than we care to admit. If we truly care about life, then we must understand what is going on. Ideally, pregnancy is a wanted and happy event for women, their partners and their families. Unfortunately, this is not always so. Around the world, millions of women every year become pregnant unintentionally. In the Philippines, as in other countries, some of these women are faced with a difficult choice: to give birth to a child that they are not prepared or able to care for, or to obtain an illegal, and often unsafe, abortion. As a Filipino citizen abortion is a crime. According to Articles 256-259 of our Revised Penal Code, whether you’re the woman getting the abortion, the abortionist, or someone assisting or encouraging the abortion, if you commit the act on purpose, you could get sent to jail for one month, to twenty years. No exceptions. For us, the consensus in abortion is strongly â€Å"anti.† Almost all of my classmates insisted that intentional abortion of any kind; was murder, regardless of whether or not it was done to save the mother’s life. Out of the forty-four students in our section, only about six said that abortion, if regulated, could be made legal. While I myself would prefer to avoid having to get an abortion as far as reasonably possible, I believe that this issue should be looked at through a more critical lens. Why? Because it is the attitude that most Filipinos adopt in relation to abortion is frequently more emotional than practical. Much of it can be traced back to a knee-jerk, culture-based reaction to anything involving babies and death. The lines on matters involving religion, culture, and tradition are quite blurred, and the results are all the same: a default outcry against abortion, or any sort of regulation concerning sexual health. * Be able to understand and to be aware to the effects of abortion. * To enlighten the Filipino citizen not to agree to the so called â€Å"abortion bill†. * For us to share the learning’s to the teenagers what does abortion really do to our human life. Abortion is illegal in the Philippines and is not permitted under any circumstance. The act is criminalized by the Revised Penal Code of the Philippines, which was enacted in 1930 but remains in effect today. Articles 256, 258 and 259 of the Code mandate imprisonment for the woman who undergoes the abortion, as well as for any person who assists in the procedure, even if they be the woman’s parents, a physician or midwife. Article 258 further imposes a higher prison term on the woman or her parents if the abortion is undertaken â€Å"in order to conceal [the woman’s] dishonour† (Tan 2008 and Wikipedia 2008).The 1987 Constitution of the Philippines effectively any amendments to the Penal Code’s provisions on abortion because of Article II, Section 12, which states: â€Å"The State recognizes the sanctity of family life and shall protect and strengthen the family as a basic autonomous social institution. It shall equally protect the life of the mother and t he life of the unborn from conception. The natural and primary right and duty of parents in the rearing of the youth for civic efficiency and the development of moral character shall receive the support of the Government.† In the principle, legalizing abortion would require a referendum to amend the constitution, although the enactment of a more definitive provision sanctioning the ban was not successful. In 1999, Congressman Roy Padilla Jr. of Camarines Norte filed House Bill 6343seeking to allow abortion in special cases (e.g., rape, congenital defects in the fetus or cases where the mother’s life is endangered). It is unlikely that the bill will be passed but it has stimulated discussion on abortion. The passage of HB 6343 will require amendment because the Bill as it presently stands is inherently unconstitutional (Wikipedia 2008 and Tan 2008).The United Nations recognizes that abortion in the Philippines is permitted only in instances in which the pregnant woman’s life is endangered. However, there is no law in the Philippines that expressly authorizes abortions in order to save the woman’s life; and the general provisions which do penalize abortion make no qualifications if the woman’s life is endangered. It may be argued that an abortion to save the mother’s life could be classified as a justifying circumstance (duress as opposed to self-defence) that would bar criminal prosecution under the Revised Penal Code. However, this position has yet to be adopted or debunked by the Philippine Supreme Court. Proposals to liberalize Philippine abortion laws have been opposed by the Catholic Church, and its opposition has considerable influence in the predominantly Catholic country. Philippines is the only Catholic country in Asia and contrary to that statistical data reported that there were some 400,000 to 500,000 abortion in 2005. The Department of Health added that nearly 100,000 women who have unsafe abortions every year end up in the hospital. About 4 in 5 abortions in the Philippines are for economic reasons, according to a survey by the University of the Philippines. In many cases, said Jocelyn Pacete, a spokeswoman for Likhaan, a women’s health group based in Manila, â€Å"the mother can’t afford another child, so ends up choosing her five living children over the fetus in her womb.† (Source: Legal_Updates) STATISTICAL FACTS, QUALITATIVE FACTS Prevalence of Abortion in the Philippines Accurate measurement of induced abortion levels has proven difficult in many parts of the world. Health care workers and policymakers need information on the incidence of both legal and illegal induced abortion to provide the needed services and to reduce the negative impact of unsafe abortion on women’s health. Information on the current level of unintended pregnancy and abortion is essential for understanding the extent to which women face barriers in planning pregnancies and preventing unintended ones. Evidence on recent trends in these important indicators is also crucial in assessing whether changes in policies and programs are necessary. Abortions cut across class, age, and marital status, and occur in both urban and rural areas. The UP Population Institute (UPPI) 1994 study estimates that between 300,000 and500, 000 women obtain induced abortions annually in the Philippines. Put another way, there may be 16 induced abortions for every 100 pregnancies. According to Singh et al. (2006), induced abortion in the Philippines is widespread and practice takes many forms. Nearly half of pregnancies each year end in an induced abortion or an unplanned birth. Unintended pregnancy is the root cause of abortion. Some 3.1 million pregnancies occur each year in the Philippines. Of these, 15% result in induced abortions, 31% in unplanned births, 39% in planned births and 15% in spontaneous abortions. An estimated 473,000 abortions occur annually. One-third of women who experience an unintended pregnancy end it in abortion. Thus, about 1.43 million pregnancies each year—nearly half of all pregnancies— are unintended. The annual rate of unintended pregnancy is 81 per 1,000 women of reproductive age, meaning that about 8% of Filipino women aged 15–44 conceive every year without intending to do so. Women from all segments of society experience abortion . Women who have had an abortion resemble average Filipino women: The majority are married, Catholic and poor. They have some high school education and have already had several children. Surveying students, friends and all the people around us that is willing to answer our questionnaire. We’ve made a questionnaire instead of direct interview to the respondents. We are estimating around 50 respondents and from there we can assume a certain percent for the â€Å"Pro-Life† and â€Å"Anti†. (Source: Legal_Updates) http://www.chanrobles.com/revisedpenalcodeofthephilippinesbook2.htm: 1. Ã…hman E and Shah I, Unsafe abortion: worldwide estimates for 2000, Reproductive Health Matters, 2002, No. 19, pp. 13–17. 2. Ã…hman E and Shah I, Unsafe Abortion: Global and Regional Estimates of the Incidence of Unsafe Abortion and Associated Mortality in 2000, fourth ed., Geneva: World Health Organization, 2004. 3. United Nations Department of Economic and Social Development, Abortion Policies: A Global Review, Vol. III, New York: United Nations, 1995. 4. Singh S et al., Estimating the level of abortion in the Philippines and Bangladesh, International Family Planning Perspectives, 1997, 23(3):100– 107 & 144. 5. Shire A and Pesso L, Changing policies and attitudes: postabortion care in the Philippines, Compass, 2003, N Abortion Issue. (2017, Feb 06).

Impact Of Financial Crisis On The Capital Structure Decision Making Of Essay

Impact Of Financial Crisis On The Capital Structure Decision Making Of The Firm - Essay Example The underlying discussion has developed the reference from the literature related to the capital structure theories and the brief about the financial crisis of late 2000s. The discussion also addresses the firms’ response to the financial crisis by adjusting mix of the capital structure. Therefore, for clear assessment along with overall global assessment, capital structure adjustments of Tesco and Dell have been discussed in the report. The report also has presented alignment of the responses of the capital structures with theories. FINANCIAL CRISIS Financial crisis have always been the dominant factor for determining trends and practices in the economic scenario. A financial crisis traces the reasoning from the excessive loans such as sub-prime mortgages as well as financial instrument of debt derived from such loans (Mizen 2008). Crisis originated from US in late 2000s spread across Europe and then to world owing to the benefit of diversification that businesses attempted t o gain from spreading risk across local and international markets (Fosberg, 2010). First strong hit from financial crisis and its intensity was revealed in late 2007 upon the Bear Stearns’ declaration about evaporation of the value of major assets held by Bear Stearns’s hedge funds. ... ct of financial crisis then resulted in continuity as Fannie Mae and Freddie Mac declared bankruptcy in third quarter beginning of 2008 followed by government takeover. Similar month also witnessed another major shock from financial crisis as Lehman Brothers declared bankrupt and immediately next day another giant AIG ended up receiving $85 billion credit facility from NY Fed to sustain. Efforts to sustain the steep fall of the financial stability of bank and institutions Troubled Asset Relief Program (TARP) was launched (Fosberg, 2010). TARP performance has also been bringing losses to treasury as TARP invested US $25 million in the bank while managed to fetch only US $13.5 million on sale of preferred stock of invested in financial institutions. TARP is also actively making efforts in closing down its program for banks though it still held the share for 199 banks (Sparshott, 2013). Being international firms, all these apart from impact on local financial market had detrimental impa ct on the international financial markets and hence international firms locally. Estimation of the reasons of the financial crisis, other than the core reason of subprime loans backed by subprime mortgages, has been found many. Such as among various factors discussed for fact has been the claim to the performance of respective roles of asymmetric information etc (Miglo, 2010). Further, another core factor along with dominant role of agency problem mounted the issue. Agency problems’ role was initially ignored to be addressed for the level of attention required (Miglo, 2010). In addition to these, role of already stressed factors such as taxes and bankruptcy cost in capital structure theories were receiving less attention in operational practices and hence contributed to the financial