New England And The Chesapeake Region Before 1700 Essay -- American Am

New England And The Chesapeake Region Before 1700Although New England and the Chesapeake region were both settled largely by the volume of English origin, by 1700 the regions had evolved into twain distinct societies. The reasons for this distinct development were mostly based on the type on people from England who chose to settle in the two areas, and on the manner in which the areas were settled. New England was a refuge for religious separatists leaving England, while people who immigrated to the Chesapeake region had no religious motives. As a result, New England formed a much more religious society then the Chesapeake region. John Winthrop states that their goal was to form a city upon a hill, which represented a vestal community, where Christianity would be pursued in the most correct manner. Both the Pilgrims and the Puritans were very religious people. In both cases, the local government was controlled by the same people who controlled the church, and the bible was the bas is for all laws and regulations. From the Article of Agreement, Springfield, Massachusetts it is ...

Systems Paper :: essays papers

Systems PaperPart I1.Animal food cycles2.Energy flow3.In identifying parts of the system for the Tsembaga in vernal Guinea. I will start with the solar energy and rainfall that are the major contri merelyors to life and the growth of plant and human life. The sun produces energy for plants to photosynthesize and the cl inches of water per year that the Tsembaga receive facilitates this process. The Tsembaga grow a variety of crops including taro, sweet potatoes, yams, manioc, greens, sugar cane, and some tree crops. Human labor to sustain the growth of these crops includes cutting, fencing, planting, maintaining, harvesting, and go back and forth. The custody usually perform these labors. Another strategic part of the soil maintenance includes the fallowing and rooting of the ground by pigs. The pigs are usually interpreted care of by the women of the group. After the crop has grown it is harvested by the men and stored for later consumption by the human population as well as the pig population. In times of Physiological stress which includes misfortune and emergency the pigs are killed by the men and then the flesh is distributed to the group that the stress is greatest. The retentivity of the crops also leads to not only the consumption of the crop but the crops can also be used in trade outside of their territories for such objects as stone axes.4.Applying the above in to the Culture Core Model I started with the base of the pyramid, economics. The reason for the growth of the crops has an economic reason, using the crop as an percentage point to exchange goods with for things like stone axes. Also the more of the crop you have the more pigs you can sustain, which inevitably means the more protein you can get from eat the pigs. The Tsembaga also have territories that they live, grow and raise pigs on. That is there largest economic commodity. Social aspects of the model include the division of labor, which could also be a political matter, but the soci ety is egalitarian so that everyone is equal and there are no chiefs. The men work the crops and fight while the women cook, clean, watch the children and over see the pigs. politically they patrilineal clans, which are organized into smaller groups. Men are the only ones that are allowed to fight. When a pig is killed it is pre decide who will get it depending on need, men during time of war, and in times of illness or injury it is the victim that gets the meat.

Macbeth essay :: essays research papers

This essay earned a 89/100. it was a ken of work considering the lines from macbeth for textual support.Would you murder someone if it brought you power, and the ability to rule a country? Macbeth, one of the kings generals wanted the power. Macbeth does many things throughout process he ends up in a crazed mess in the end. He goes from a thoughtful person who knew right from wrong, to a courageous linguistic rule whose arrogance got the best of him. Throughout the play, Macbeth proves himself of a tragic hero. To prove that he is a tragic hero, he shows a supreme pride, and capacity for suffering. He to a fault has a sense of commitment and vigorous protest, which eventually has an impact on him and other characters. Here are some facts that have been cited, to prove that he is a tragic hero.Macbeth shows a supreme pride, because he knows that Banquo is an obstacle in his way of ruling. So, in order to maintain his place as king, he must kill him. Macbeth states that it is his duty to kill him, but not let anyone see his crime, for it will all be over when Banquo is dead. The Prince of Cumberland That is step / On which I must scratch down or else oer leap, / For in my way it lies. Stars hide your fires / Let not light see my black and deep desires / The eye blinking at the hand, yet let that be / Which the eye fears, when it is done, to see(Macbeth 1.4.48-53). Macbeth also shows a supreme pride when he is thinking about the proposal of Dun johns murder. He thinks about how nothing bad can happen and he can only move forward as king. Macbeth thinks about his ambition and how it can lead to a downfall. I have no spur / To prick the sides of my intent, but only / Vaulting ambition which oer leaps itself / And falls on thother(1.7.25-25). Macbeths capacity for suffering also leads him to be a tragic hero. Before the murder of Duncan, Macbeth has a personal moment of impartiality and thinks about what he is going to do. He imagines the dagger in his hand a nd thinks about the nightmares he will be invaded with. Macbeth is so obsessed with murder he begins seeing things, and must be quiet and not wake anyone, for he would give himself away.

Free College Admissions Essays: She is my Hero :: College Admissions Essays

She is my Hero   Stepping out of the clinic into the broad daylight, tears ran down her face. She had actually done it. She had an abortion. She climbed into the back seat of the family station wagon and listened to the silence. What had she done? When most(prenominal) girls write closely their mothers they talk about how wonderful of a childhood they had being raised by such a great woman. They talk about her accomplishments and how they want to grow up and be just like her. They talk about the soup sick babble that every perfect family has to offer. When I write about my mother, I speak of the pain, the fears, the learning and the salvation. My Mother has been a great inspiration to me. She is my hero. Not because of the wonderful things she has done. Not because of the marvelous childhood I was disposed and certainly not because of her upbringing. My Mother is my hero because she was led down a path of destruction, precisely with Gods grace and mercy she was pulled from her perils and blessed. As the youngest of five children she was often overlooked. The vainglory of the family often overrode the opportunity to receive health care, handouts and a decent chance to become something. My mother spent her childhood in a tiny mansion with her family and many relatives. She was never given the opportunities to excel in learning and life like my generation has. My grandfather was a carpenter and on that living supply many hungry mouths. But despite this already unfortunate lifestyle my mother maintained good grades and was on a path to overcoming her misfortune. When she was sixteen, my mother met and got expectant by a boy that she attended school with. Ashamed and spiritually broken she gave into to her parents pleading to have an abortion. As time passed she grew older and wiser. She graduated soaring school and began working several jobs. Attending college was never a thought in her mind. She married young and moved on with her life. Eventual ly she became pregnant again, but this time she was ready. By now God had strengthened her life. She believed in him and sought is will. She had been given a second chance. To this day my mother is a strong and charismatic woman, full of Gods love and joy for life.

Grapes of Wrath and Its a Wonderful Life :: Economy Great Depression Essays

Grapes of Wrath and Its a Wonderful LifeFollowing the relatively prosperous succession nicknamed the Roaring Twenties came the Great Depression. Unemployment skyrocketed and good times were substantial to be found. In the movie Its a Wonderful Life - we see the transformation from constancy to utter chaos. With World War I freshly over, there was joy and celebration to welcome the Statesn boys coming back home. Huge technological improvements and scientific breakthroughs paved the way for larger, more stable and profitable financial markets. Fast and easy money was too be made by playing the halcyon stock market - many lay men took advantage of these opportunities without having a complete understanding of what exactly they were doing. This inevitably led to the crash that sent America and the world into the Great Depression.In the movie - we see the first stages of the panic that spread throughout the country. People got scared and ran to the bank to take out their life-saving s. What they did not understand was that no bank carries all its customers money at the same time. Profits are made off loans (which come from money kept in the bank by customers) with interest rates. This is what George Bailey tries to explain to the people of Bedford Falls, when they come to take their life-savings out of Baileys Building and Loans.However, not everyone was satisfied with George Baileys explanation. They much preferred to have hard cash on them, which led some to turn to Mr. Potter (the stereotypical evil character who represents all that is bad), who offered fifty cents for every dollar. This of course allowed Potter to play huge profits out of other peoples loss.Georges institution was unable to match Potter, not only because he believed it was unethical, but also because they were not a mammoth and strong enough institution.Realizing this, Potter tried numerous times during the course of the movie to shut down the Buildings and Loans or take it over - to no a vail. It was his signal to capture a monopolistic market over Bedford Falls that would allow him to charge any rates he wanted and thereby ensure himself a sufficiently large profit. It would also mean the end of a free market in Bedford Falls. A likely byproduct of a monopoly is feudalism, which could have arisen, attached half a chance. It was the Bailey bank that always stood in the way of this happening.

Grapes of Wrath and Its a Wonderful Life :: Economy Great Depression Essays

Grapes of Wrath and Its a Wonderful LifeFollowing the relatively prosperous era nicknamed the well-to-do Twenties came the Great Depression. Unemployment skyrocketed and good times were hard to be found. In the movie Its a Wonderful Life - we see the transformation from stability to mouth chaos. With World War I freshly over, there was joy and celebration to welcome American boys coming back home. Huge technological improvements and scientific breakthroughs surface the way for larger, more stable and profitable financial markets. Fast and easy money was too be made by playing the booming carry market - many lay men took advantage of these opportunities without having a complete regarding of what exactly they were doing. This inevitably led to the crash that sent America and the realism into the Great Depression.In the movie - we see the first stages of the panic that spread throughout the country. People got scared and ran to the patois to take out their life-savings. What t hey did not understand was that no bank carries all its customers money at the same time. Profits are made off loans (which come from money kept in the bank by customers) with interest rates. This is what George Bailey tries to explain to the people of Bedford Falls, when they come to take their life-savings out of Baileys Building and Loans.However, not everyone was satisfied with George Baileys explanation. They much preferred to have hard currency on them, which led some to turn to Mr. Potter (the stereotypical evil character who represents all that is bad), who offered fifty cents for every dollar. This of course allowed Potter to make bulky profits out of other peoples loss.Georges institution was unable to match Potter, not only because he believed it was unethical, but also because they were not a big and beardown(prenominal) enough institution.Realizing this, Potter tried numerous times during the course of the movie to shut down the Buildings and Loans or take it over - to no avail. It was his aim to mystify a monopolistic market over Bedford Falls that would allow him to charge any rates he wanted and thereby ensure himself a sufficiently large profit. It would also mean the end of a free market in Bedford Falls. A likely byproduct of a monopoly is feudalism, which could have arisen, given half(a) a chance. It was the Bailey bank that always stood in the way of this happening.

Cost of Capital, Capital Budgeting and Financial Planning

Assignment Cost of Capital, Capital Bud thruming and Financial Planning Chapter(s) 9, 10, 12 Group Name Student Name(s) Date book of instructions HW Assignments exit be uploaded to Kean Blackboard and must be accessed from there. You must work in groups where assigned (or independently if not assigned to groups) on homework assignments. Points be noted against individually question. You atomic number 18 required to submit Home Work assignments electronically on Kean Blackboard development MS-Office or other(a) text editor. You argon required to complete your assignments as per the due date indicated by the Professor.Total Points in Assignment 100 (Points scored go away be scaled d suffer to a utmost of 15 towards the final grade) Assignment Part I Cost of Capital During the closing curtain few years, Harry Davis Industries has been too constrained by the high approach of capital to make many capital investments. Recently, though, capital be have been declining, and th e company has decided to look seriously at a major elaboproportionn program that has been proposed by the marketing department. Assume that you are an assistant to Leigh J integritys, the financial vice-president. Your first task is to estimate Harry Daviss constitute of capital.Financial StatementsJ aces has provided you with the following data, which she believes may be relevant to your task a) The firms tax swan is 40%. b) The current footing of Harry Daviss 12% coupon, semiannual payment, noncallable bonds with 15 years stay to maturity is $1,153. 72. Harry Davis does not use short-term have-to doe with-bearing debt on a permanent prat. New bonds would be privately placed with no floatation woo. c) The current price of the firms 10%, $100 par value, quarterly dividend, perpetual preferred course is $116. 95. Harry Davis would incur flotation costs equal to 5% of the proceeds on a unexampled issue. ) Harry Daviss common stock is currently ex qualify at $50 per share. Its last dividend (D0) was $3. 12, and dividends are expected to bewilder at a constant rate of 5. 8% in the foreseeable future. Harry Daviss beta is 1. 2 the mother on T-bonds is 5. 6% and the market take a chance indemnity is estimated to be 6%. For the over-own-bond-yield-plus-judgmental- put on the line-premium approach, the firm uses a 3. 2%judgmental risk premium. e) Harry Daviss fair game capital structure is 30% long-term debt, 10% preferred stock, and 60%common justice. To help you structure the task, Leigh Jones has asked you to answer the following questions. . What sources of capital should be include when you estimate Harry Daviss weighted average cost of capital (WACC)? Should the component costs be figured on a forward-tax or an after-tax basis? Should the costs be historical (embedded) costs or new (marginal) costs? (5 points) Sources of capital to be included to estimate WACC are * Long term debt to be considered after tax * Preferred stock to be considered before tax ( preferred stock is not tax deductible) * Common equity to be considered before tax When it comes to corporate financing, most firms incorporate tax effects in the cost of capital.For this reason, component costs should be wagerd on an after-tax basis. In financial management the WACC is used primarily to make investment decisions and these decisions hinge on get winds expected future issuances versus the cost of new or marginal capital that volition be used to finance these visits. Thus the relevant cost it marginal cost of new debt to be raised during the planning period 2. What is the market interest rate on Harry Daviss debt, and what is the component cost of this debt for WACC purposes? (3 points) Pre -Tax cost of Debt is the YTM in the case of a Bond.The current price of Harry Daviss 12% coupon, semiannual payment, noncallable bonds with 15 years remaining to maturity is $1,153. 72. We used the RATE function in go past to calculate the YTM n 30 PV -1153. 72 pmt 60 FV 1000 Rate (i) 5% =RATE(30,60,-1153. 72,1000) = 5% Since this is a semiannual rate, we multiplied by 2 to find the annual rate, which is the pre-tax cost of debt. 5% x 2 = 10% = rd After tax component cost of debt = Interest Rate Tax Savings = rd rdT We cypher that the rd is 10%, and it is stated above that the tax rate is 40%. rd(1 T) = 10. %(1 0. 40) = 10. 0%(0. 60) = 6. 0 = 6% component cost of debt, which is the after-tax cost of debt. 3. What is the firms cost of preferred stock? (3 points) The current price of the firms 10%, $100 par value, quarterly dividend, perpetual preferred stock is $116. 95. Harry Davis would incur flotation costs equal to 5% of the proceeds on a new issue. The cost of preferred stock is simply the preferred dividend divided by the price the company will receive if it issues new preferred stock. No tax adjustment is necessary, as preferred dividends are not tax deductible.Dps is the Preferred dividend = . 10($100) = $10 Pps is the preferr ed stock price = $116. 95 F is the flotation cost as a percentage of proceeds = 5% rps = Dps / Pps(1-F) = $10 / 111. 10 = 0. 09 = 9% cost of preferred stock 4. Would you expect Harry Daviss preferred stock to be more than riskier or less riskier to investors than its debt? Compare the preferred stock yield to the yield to maturity on the debt and explain the risk/return trade-off between preferred stock and debt from an investors point of view. (3 points) Preferred stocks are riskier to investors than debt.Corpo rations own most preferred stock, because 70% of preferred dividends are non-taxable to corporations. Therefore, preferred stock often has a lower before-tax yield than the before-tax yield on debt. But, the after-tax costs to the issuer are higher on preferred stock than debt. This is self-consistent with the higher risks of preferred stock. 5. Harry Davis doesnt plan to issue new shares of common stock. Using the CAPM approach, what is Harry Daviss estimated cost of equi ty? (2 points) Harry Daviss beta is 1. 2 the yield on T-bonds is 5. 6% and the market risk premium is estimated to be 6%.Risk-free rate 5. 6% Market risk premium 6% Beta 1. 2 rs = Risk-free rate + (Market risk premium) (Beta) rs = rRF + (RPM) bi rs = . 056 + (. 06)(1. 2) = 0. 128 = 12. 8% estimated cost of equity using CAPM approach 6. What is the estimated cost of equity using the discounted capital flow (DCF) approach? (2 points) Harry Daviss common stock is currently selling at $50 per share. Its last dividend (D0) was $3. 12, and dividends are expected to grow at a constant rate of 5. 8% in the foreseeable future. P0 = $50 D0 = $3. 12 g = 5. 8% D1 = $3. 30 rs = D1/P0 + g D1= D0(1+g)= $3. 12(1+. 058) = $3. 30 s = ($3. 30/$50)+5. 8% = 6. 6% +5. 8% = 12. 4% estimated cost of equity using DCF approach 7. Suppose the firm has historically earned 15% on equity (ROE) and retained 62% of fee, and investors expect this situation to continue in the future. How could you use this informa tion to estimate the future dividend growth rate, and what growth rate would you get? Is this consistent with the 5. 8% growth rate provided by Jones? (2 points) Payout rate = 100% 62% = 38% ROE = 15% Growth from earnings retention mock up g = (Retention rate)(ROE) g = (1 Payout rate)(ROE) g = (1 0. 38)(15%) = 9. %. Using the Earnings Retention Model, the estimated future dividend growth rate is 9. 3%, which is almost twice the growth rate provided by Jones, and hence inconsistent. Note that the earning retention model assumes the retention and payout rate will remain constant, as will the ROE on new investments. Under these assumptions, the earnings growth and dividends growth rate will also be constant. 8. What is the cost of equity based on the bond-yield-plus-judgmental-risk-premium method? (2 points) For the over-own-bond-yield-plus-judgmental-risk-premium approach, the firm uses a 3. %judgmental risk premium. We calculated earlier that the companys bond yield is 10%. rs= r d + Judgmental risk premium rs= 10. 0% + 3. 2% = 13. 2% cost of equity based on bond-yield-plus-judgmental-risk-premium method 9. What is your final estimate for the cost of equity, rs? (2 points) CAPMrs = 12. 8% DCF rs= 12. 4% Bond-yield-plus-judgmental-risk-premium risk rs = 13. 2% Average rs= 12. 8% Final estimate for the cost of equity, rs = 12. 8% 10. What is Harry Daviss weighted average cost of capital (WACC)? (2 points) The firms tax rate is 40%.Harry Daviss target capital structure is 30% long-term debt, 10% preferred stock, and 60%common equity. We calculated earlier that the pre-tax cost of debt, rd is 10%, the cost of preferred stock, rps is 9% and the cost of equity, rs is 12. 8%. Wd = 30% rd = 10% T = 40% Wps = 10% rps = 9% Ws = 60% rs = 12. 8% WACC= wdrd(1 T) + wpsrps + wsrs WACC= 0. 30(. 10)(1 ? 0. 40) + 0. 10(. 09) + 0. 60(. 128) = . 1038 = 10. 38% weighted average cost of capital 11. What four common mistakes in estimating the WACC should Harry Davis avoid? (2 poi nts) Four common mistakes that are to be avoided are 1.Using current cost of debt (instead of historical cost of debt) 2. Mixing current and historical measures to calculate MRP 3. Using book weights to estimate the weight for capital structure (instead of market weights) 4. Misidentifying the capital component sources Part II Capital Budgeting You have just graduate from the MBA program of a large university, and one of your favorite courses was Todays Entrepreneurs. In fact, you enjoyed it so much you have decided you want to be your own boss. While you were in the masters program, your grandfather died and left you $1 million to do with as you please.You are not an inventor and you do not have a trade skill that you derriere market however, you have decided that you would like to purchase at least one established franchise in the fast-foods area, maybe deuce (if profitable). The problem is that you have never been one to stay with any project for too long, so you figure that your time put together is three years. After three years you will sell off your investment and go on to something else. You have narrowed your selection down to two choices (1) immunity L, Lisas Soups, Salads, Stuff and (2) Franchise S, Sams Fabulous Fried Chicken.The net cash flows shown below include the price you would receive for selling the franchise in Year 3 and the forecast of how each franchise will do over the three-year period. Franchise Ls cash flows will start off slowly but will increase rather quickly as people become more health conscious, while Franchise Ss cash flows will start off high but will trail off as other chicken competitors ship the marketplace and as people become more health conscious and avoid fried foods. Franchise L serves breakfast and lunch, while Franchise S serves only dinner party, so it is possible for you to invest in both franchises.You see these franchises as perfect complements to one another You could attract both the lunch and dinne r crowds and the health conscious and not so health conscious crowds without the franchises directly competing against one another. Here are the net cash flows (in thousands of dollars) Depreciation, salvage values, net works capital requirements, and tax effects are all included in these cash flows. You also have made subjective risk assessments of each franchise, and cerebrate that both franchises have risk characteristics that require a return of 10%. You must now determine whether one or both of the franchises should be authorized. . What is the residuum between independent and mutually exclusive projects? (2 points) Independent projects are those projects whose cash flows are not affected by other projects. If Costco is considering opening a new store in Los Angeles and another one in New York, they would be independent. Mutually exclusive projects are two different methods of attaining the same result. If one is accepted the other would be rejected. If Costco were consider ing relocating its corporate headquarters to Los Angeles or New York, only one of the 2 locations will be selected thus rejecting the alternate location.When projects are mutually exclusive, it means they do the same job or have the same purpose. 2. subtend the term net present value (NPV). What is each franchises NPV? (4 points) Net Present Value is defined as the present value of projects cash inflows minus the present value of its costs. It tells us how the project contributes to shareholder wealth. The larger the NPV the more value the project adds and thus the higher the stock price. NPV = CF0 + CF1/ (1+r)1 + CF2/(1+r)2 + CF3/(1+r)3.. + CFN/(1+r)N r = 10% Franchise L CF0L = -100 CF1L = 10 CF2L = 60 CF3L = 80NPVL= CF0L + CF1L/ (1+r)1 + CF2L/(1+r)2 + CF3L/(1+r)3 = -100 +10/(1+. 10)1 + 60/(1. 10)2 + 80/(1. 10)3 = -100 + 9. 09 + 49. 59 + 60. 11 = $18. 79 Franchise S CF0S = -100 CF1S = 70 CF2S = 50 CF3S = 20 NPVS= CF0S + CF1S/ (1+r)1 + CF2S/(1+r)2 + CF3S/(1+r)3 = -100 +70/(1+. 10)1 + 50/(1. 10)2 + 20/(1. 10)3 = -100 + 63. 64 + 41. 32 + 15. 03 = $19. 99 3. What is the rationale behind the NPV method? According to NPV, which franchise or franchises should be accepted if they are independent? Mutually exclusive? How would the NPVs change if the cost of capital changed? (4 points)NPV is generally regarded as the best single screening criterion, primarily because it is directly related to the firms central goal of maximizing the stocks intrinsic value. NPV tells us how the project contributes to shareholder wealth. The larger the NPV the more value the project adds and thus the higher the stock price. A negative NPV indicates suitable cash is not being generated from the project to meet cost associated with the project. Zero NPV indicates that cash generated is only sufficient to cover costs. Positive NPV on the other go indicates that the inflow of cash is larger than the outflow.NPV rules dictate that if projects are independent, both projects should be accept ed as long as they have a decreed NPV. In this case both Franchise S L have positive NPVs and should be accepted. If projects are mutually exclusive, then the project with the larger NPV should be selected. In this case, Franchise S has a higher NPV indicating that the returns from investing in Franchise S is larger and thus Franchise S should be selected. 4. Define the term internal rate of return (IRR). What is each franchises IRR? (4 points) IRR is the discount rate that forces the PV of the inflow of a project to equal the initial cost.In other words it forces the NPV to be zero. IRR is an estimate of the projects rate of return and it is comparable to the YTM on a bond. NPV = CF0 + CF1/ (1+IRR)1 + CF2/(1+IRR)2 + CF3/(1+IRR)3.. + CFN/(1+IRR)N = 0 Using Excel function IRR Expected net cash flows Year (t) Franchise L Franchise S 0 ($100) ($100) 1 10 70 2 60 50 3 80 20 IRR 18. 13% 23. 56% IRRL = 18. 13% IRRS = 23. 56% 5. What is the logic behind the IRR method? Acco rding to IRR, which franchises should be accepted if they are independent? Mutually exclusive? How would the IRRs change if cost of capital changed? 4 points) IRR is an estimate of a projects rate of return. If the return exceeds the cost of funds used to finance the project, then the difference is a support that goes to the firms stockholders and causes the stock price to rise. So if the WACC/hurdle rate(r) is less than the estimated return IRR, it indicates project will be profitable. As in NPV where zero is the limen above which the project is considered profitable, r is the threshold above which IRR is considered profitable In the condition where Franchise S and L are independent, both franchises have positive IRRs and thus both franchises should be accepted.However, when both franchises are mutually exclusive, the franchise with the larger IRR has to be selected, which in this case Franchise S. 6. Construct NPV pro single files for Franchises L and S. At what discount rate do the profiles cross? From the NPV profile which franchise or franchises should be accepted if they are independent? Mutually exclusive? Explain. (6 points) NPV visibility for Franchise S LCost of Capital = 10% Year = 0 1 2 3 working class S -100. 00 70 50 20 Project L -100. 00 10 60 80 r NPVS NPVL 0% $40. 00 $50. 00 5% $29. 29 $33. 05 8. 68% $22. 32 $22. 32 10% $19. 98 $18. 78 15% $11. 83 $6. 67 18. 126% $7. 23 $0. 00 20% $4. 63 -$3. 70 23. 564% $0. 00 -$10. 20 On this plot the X Axis is the cost of capital and the Y axis of rotation is the NPV. IRR is the discount rate at which profile line crosses the X axis. Profiles crossover at an 8. 68% cost of capital. Based on the plot, the NPV for both Franchise S and Franchise L have NPVs above the cost of capital indicating cash inflow is larger than the costs and thus both projects should be selected if they are independent of each other.On the other hand, if the projects are mutually exclusive, the project with the larger x-intercept (higher IRR), which is Franchise S, should be accepted. 7. What is the underlying cause of ranking conflicts between NPV and IRR? (3 points) Ranking conflicts advance when cost of Capital is higher than crossover rate which causes NPV and IRR to point in different directions. The two basic conditions that cause these conflicts are * Timing difference When one project receives majority of the cash early while the other receives it later.This is the reason for conflict between Franchise S Franchise L * Project sizing (scale) difference Significant difference in invested amount can cause a conflict When either clock or size differences occur, the firm will have different amounts of funds to invest in other projects depending on which of the two mutually exclusive projects it chooses. Given this situation, the rate of return at which differential gear cash flows can be reinvested is a critical issue. Therefore, whenever conflict exists between mutually exclusive projects, NPV method is better to use. 8.What is the reinvestment rate assumption, and how does it affect the NPV versus IRR conflict? (3 points) NPV calculation is based on the assumption that cash inflows can be reinvested at the projects risk adjusted WACC, whereas the IRR calculation is based on the assumption that cash inflows can be reinvested at the IRR itself. Since NPV assumes reinvestment at cost of capital which is more realistic and is typically lower than the IRR (cash flows generally cannot be reinvested at heir IRR), so NPV is the more reasonable method. NPV should be used to choose between mutually exclusive projects. . Define the term modified IRR (MIRR). Find the MIRRs for Franchises L and S. (4 points) IRR overstates the expected rate of return for accepted projects because cash flows cannot be reinvested at the IRR. The Modified IRR (MIRR) rectifies this problem by assuming reinvestment at the WACC or any other reasonable rate. Using go by function MIRR, we ca lculated the MIRR for Franchise L and S. WACC 10% year 1 1 2 3 Franchise L ($100) 10 60 80 Franchise S ($100) 70 50 20 MIRRL 16. 50% MIRRS 16. 89% 10.What are the MIRRs advantages and disadvantages vis-a-vis the regular IRR? What are the MIRRs advantages and disadvantages vis-a-vis the NPV? (4 points) MIRR has two significant advantages over IRR. First, MIRR assumes reinvestments at cost of capital rather than investment at IRR which is generally not correct. Thus, MIRR is usually a better indicator of profitability. In addition, the MIRR eliminates the multiple IRR problem because there can never be more than one MIRR, and it can be compared with the cost of capital when deciding on accept or rejecting projects.MIRR does not always lead to the same decision as NPV in the case of mutually exclusive projects where difference in size and timing can give rise to conflicts. In these considerations, NPV is a better indicator as it selects the project that maximizes value. H owever, MIRR is superior to the regular IRR as an indicator of a projects true rate of return. Part III Forecasting Financial Statements Matthews Industries most recent financial statements are available in the attached Excel worksheet and also in the partial model file Ch12 P11 Build a Model. xls from the textbooks web site.Matthews Industries financial planners must forecast the companys financial results for the coming year. The forecast will be based on the forecasted financial statements method, and any additional funds needed will be obtained by using notes payable. Complete the partial model and answer the following questions. 1. Assume that the firms 2010 profit margin, payout ratio, capital intensity ratio, and spontaneous liabilities to sales ratio remain constant. If sales grow by 10% in 2011, what is the required away capital the firm will need in 2011 as calculated by the AFN equation? 10 points) AFNMatthews = Addl Reqd Assets ? Spontaneous liabilities ? Addn to RE = (A0*/S0)? S ? (L0*/S0)? S ? S1 ? M ? (1POR) = (A0*/S0)(gS0) ? (L0*/S0)(gS0) ? S1 ? M ? (1POR) = $660 ? $74. 70 ? $257. 73 AFNMatthews = $327. 27 million The required external capital for 2011 as calculated by AFN is 327. 27 Million. 2. If 2010 ratios remain constant, what is Matthews self-supporting growth rate?How will the self-supporting growth rate change if each of the following changes occur (1) the profit margin declines, (2) the payout ratio increases, or (3) the capital intensity ratio declines? (10 points) PM(1 POR)(S0) $234. 30 Self-supporting g = = = 4. 17% A0* L0* PM(1 POR)S0 $5,615. 70 Mathews self-supporting growth is calculated to be 4. 17%. Effect on Self-Supporting growth when all ratios are kept constant except one ratio is changed as follows 1) When the profit margin declines, the self-supporting growth percentage drops.Assuming that everything else is constant and M go ons to 2. 55%, self-supporting growth g would fal l to 2. 96% 2) When Payout-ratio increases, self-supporting growth percentage drops. Assuming that everything else is constant and POR increases to 55%, self-supporting growth g would fall to 3. 39% 3) When capital intensity ratio (A0*/S0) declines, it does not change the self-supporting growth 3. Matthews management has reviewed its financial statements and arrived at two possible scenarios for 2011.The first scenario assumes a steady state while the game scenario, the target scenario, shows some improvement in ratios toward industry-average values. Forecasted values for the scenarios are shown in the partially completed file Ch12 P11 Build a Model. xls. If Matthews assumes that external financing is achieved by means of notes payable and financing feedbacks are not considered because the new notes payable are added at the end of the year, what are the firms forecasted AFN, EPS, DPS, and year-end stock price under each scenario? (14 points) Using the file Chapter 12P11 Build a Mo del. ls, forecasted values for scenarios are as follows Forecasted Values Steady State Target State AFN $324. 40 Million -332. 50 Million EPS $3. 16 $5. 66 DPS $1. 42 $2. 41 Year-end Stock Price $25. 27 $70. 79 See excel file submitted separately for detailed calculations on Part III. Scoring Sheet Question Max Points Points scored Part I 1 5 2 3 3 3 4 3 5 2 6 2 7 2 8 2 9 2 10 2 11 2 Part II 1 2 2 4 3 4 4 4 5 4 6 6 7 3 8 3 9 4 10 4 Part III 1 10 2 10 3 14 TOTAL 100 Points towards final grade 15

Economic Booms of China and India Essay

It has been well k at a timen that chinaware and India are having an economic boom whilst the west is in a recession. The question is whether China and India are going to slip into a recession as their rate of growth is thought to be unhealthy, this would put the westerly countries back into recession which is a very worrying prospect for a slowly recovering western gentleman. Chinas GDP (growth domestic product) is now over $4,211 billion a growth from $53 billion in 1978. China is between a LEDC and a MEDC and is growing at a exceedingly fast rate which is thought to be unhealthy. Chinas main port (which there are 200 of) are growing at a huge rate which cannot be sustainable the Port of Shenzhen is growing at over 25% annually to provide the world which China make products. The port is home to 39 shipping companies who have launched 131 international container routes. There are 560 ships on call at Shenzhen port on a periodical basis and to a fault 21 feeder routes to other p orts in the Pearl River Delta region.China just had a deceleration in growth which worried the undivided world. The slowdown can be blamed on a variety of factors. Chinas government was aiming for a slight deceleration, as it tried to nutsen its real estate boom and rapid inflation. While the rate still is allot faster than the growth in the United Kingdom, it marks an uncomfortable soft patch for China. Over the last three decades, the country has barrelled ahead at an average of about 10% a year. This shows that the unhealthy growth of China of an average of 10% will eventually slow down and bring the whole world into a very bad recession. The economy of India is the eleventh largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. On a per capita income basis, India ranked 140th by nominal GDP and 129th by GDP (PPP) in 2011, according to the IMF.However Indias economic grow th is also such(prenominal) higher than it is in the western world but I believe their growth is much healthier than the growth in China. Indias labor only accounts for 28% of its GDP whereas in China that number is much higher. China and India share many similarities as they are both growing at a huge rate but Chinas growth is mainly in industry which is much less(prenominal) sustainable. China is also relying onthe fact communism remains strong and doesnt crash because if it does wages will rise and put western countries in recession.India designs much more ridiculous high quality products which is much more sustainable than Chinas large scale low quality batch production which is much less sustainable and that is the reason I believe that China is the biggest threat to the western world. I believe that China is the biggest threat to the western countries and would put the whole world into recession. Therefore I believe the countries should stop relying on China so heavily beca use China controls the whole world. If China did not believe in something a county did it could stop the exports to that country which would hugely affect that country. Therefore I believe that it is a threat to the west. I do not believe that India is YET such a threat as China but in less than 10 years I belive it may be just as much of a problem as china.

The Vampire Diaries: The Fury Chapter Six

Shes already do her choice. You saw it yourself when you interrupted us. Youve already chosen, sop upnt you, Elena? Stefan state it not smugly, or as a demand, only when with a kind of desperate bravado.I Elena looked up. Stefan, I love you. merely dont you downstairsstand, if I have got a choice powerful immediately I have to choose for all of us to stay to work overher. Just for now. Do you understand? Seeing only stoniness in Stefans face, she turned to Damon. Do you?I regain so. He gave her a secret, possessive smile. I told Stefan from the beginning that he was selfish not to share you. Brothers should share things, you do.Thats not what I meant.Isnt it? Damon smiled again.No, Stefan give tongue to. I dont understand, and I dont see how you can ask me to work with him. Hes evil, Elena. He kills for pleasure he has no conscience at all. He doesnt bearing round Fells Church he express that himself. Hes a monster-Right now hes existence more cooperative than you are, Elena express. She reached for Stefans hand, searching for some port to foil through to him. Stefan, I need you. And we two need him. Cant you try to accept that? When he didnt answer she added, Stefan, do you really want to be mortal enemies with your brother forever?Do you really think he wants anything else?Elena stared d feature at their joined hands, looking at the planes and curves and shadows. She didnt answer for a minute, and when she did it was very quietly.He stop me from killing you, she said.She felt the flare of Stefans antitank anger, consequently felt it slowly fade. Something like defeat crept through him, and he bowed his head.Thats true, he said. And, anyway, who am I to call him evil? Whats he through with(p) that I havent d angiotensin-converting enzyme myself?We need to talk, Elena thought, hating this self-hatred of his. But this wasnt the time or place. and then you do agree? she said hesitantly. Stefan, tell me what youre thought.Right now Im thinki ng that you always get your way. Because you always do, dont you, Elena?Elena looked into his eyes, noticing how the pupils were dilated, so that only a ring of green iris showed nearly the edge. There was no longer anger there, surplusly the tiredness and the bitterness remained.But Im not barely doing it for myself, she thought, thrusting taboo of her mind the sudden surge of self-doubt. Ill prove that to you, Stefan youll see. For once Im not doing something for my own convenience.But Im not just doing it for myself, she thought, thrusting out of her mind the sudden surge of self-doubt. Ill prove that to you, Stefan youll see. For once Im not doing something for my own convenience.Yes. I agree.And I agree, said Damon, extending his own hand with exaggerated courtesy. He captured Elenas before she could say anything. In fact, we all seem to be in a frenzy of pure agreement.Dont, Elena thought, scarce at that moment, standing in the cool twilight of the choir loft, she felt th at it was true, that they were all three connected, and in accord, and strong.Then Stefan pulled his hand away. In the silence that followed, Elena could hear the sounds alfresco and in the church below. There was still crying and the occasional shout, but the overall urgency was gone. Looking out the windowpane, she saw people picking their way across the wet parking lot between the forgetfulr groups that huddled over wounded victims. Dr. Feinberg was moving from island to island, apparently dispensing medical advice. The victims looked like survivors of a hurricane or earthquake.No one is what they seem, Elena said.What?Thats what reasonable said during the memorial service. She had another one of her fits. I think it might be important. She tried to assemble her thoughts in order. I think there are people in town that we ought to look out for. Like Alaric Saltzman. She told them, briefly, what she had overheard earlier that day in Alarics house. Hes not what he seems, but I dont know exactly what he is. I think we should watch him. And since I obviously cant appear in public, you two are going to have to do it. But you cant let him suspect you know- Elena broke off as Damon held up a hand swiftly.Down at the base of the stairs, a junction was calling. Stefan? Are you up there? And then, to someone else, I thought I saw him go up here.It sounded like Mr. Carson. Go, Elena hissed well-nigh inaudibly to Stefan, You have to be as prescript as possible so you can stay here in Fells Church. Ill be all right.But where will you go?To Merediths. Ill formulate later. Go on.Stefan hesitated, and then started down the stairs, calling, Im coming. Then he pulled back. Im not leaving you with him, he said flatly.Elena threw her hands up in exasperation. Then both of you go. You just agreed to work together are you going to go back on your word now? she added to Damon, who was looking unyielding himself.He gave another of his little shrugs. All right. Just one thi ng-are you hungry?Thats good. But later on, you will be. Remember that. He crowded Stefan down the stairs, earning himself a searing look. But Elena heard Stefans juncture in her mind as they both disappeared.Ill come for you later. Wait for me.She wished she could answer with her own thoughts. She also noticed something. Stefans mental voice was much weaker than it had been four geezerhood ago when he had been fighting his brother. Come to think of it, he hadnt been able to speak with his mind at all before the Founders Day celebration. Shed been so confuse when she woke up by the river that it hadnt occurred to her, but now she wondered. What had happened to make him so strong? And why was his strength fading now?Elena had time to think astir(predicate) it as she sat there in the deserted choir loft, while below the people left the church and outside the overcast skies slowly grew darker. She thought about Stefan, and about Damon, and she wondered if she had made the right cho ice. Shed vowed never to let them fight over her, but that vow was broken already. Was she crazy to try and make them live under a truce, even a temporary one?When the sky outside was uniformly black, she ventured down the stairs. The church was empty and echoing. She hadnt thought about how she would get out, but fortunately the side door was bolted only from the deep down. She slipped out into the wickedness gratefully.She hadnt realized how good it was to be outside and in the dark. Being inside buildings made her determine trapped, and daylight hurt her eyes. This was best, free and unfettered-and unseen. Her own senses rejoiced at the lush world around her. With the air so still, scents hung in the air for a long time, and she could smack a whole plethora of nocturnal creatures. A fox was scavenging in somebodys trash. Brown rats were chewing something in the bushes. Night moths were calling to one another with scent.She arrange it wasnt seriously to get to Merediths house undetected people seemed to be staying inside. But once she got there, she stood looking up at the graceful farmhouse with the screened porch in dismay. She couldnt just passport up to the front door and knock. Was Meredith really expecting her? Wouldnt she be waiting outside if she were?Meredith was about to get a terrible shock if she werent, Elena reflected, eyeing the distance to the roof of the porch. Merediths put out agency window was above it and just around the corner. It would be a bit of a reach, but Elena thought she could make it.Getting onto the roof was easy her fingers and bare toes be holds between the bricks and sent her sailing up. But leaning around the corner to look into Merediths window was a strain. She blinked against the light that flooded out.Meredith was sitting on the edge of her bed, elbows on knees, staring at nothing. Every so often she ran a hand through her dark hair. A measure on the nightstand saidMeredith was sitting on the edge of her bed, elbows on knees, staring at nothing. Every so often she ran a hand through her dark hair. A clock on the nightstand said Elena tapped on the window glass with her fingernails.Meredith jumped and looked the defile way, toward the door. She stood up in a defensive crouch, clutching a throw pillow in one hand. When the door didnt open, she sidled a pace or two toward it, still in a defensive posture. Who is it? she said.Elena tapped on the glass again.Meredith spun to face the window, her breath coming fast. permit me in, said Elena. She didnt know if Meredith could hear her, so she mouthed it clearly. Open the window.Meredith, panting, looked around the room as if she expected someone to appear and help her. When no one did, she approached the window as if it were a dangerous animal. But she didnt open it.Let me in, Elena said again. Then she added impatiently, If you didnt want me to come, why did you make an appointment with me?She saw the change as Merediths shoulders relaxed sli ghtly. Slowly, with fingers that were unusually clumsy, Meredith opened the window and stood back.Now ask me to come inside. Otherwise I cant.Come Merediths voice failed and she had to try again. Come in, she said. When Elena, wincing, had boosted herself over the sill and was flexing her cramped fingers, Meredith added almost dazedly, Its got to be you. Nobody else gives orders like that.Its me, Elena said. She stopped wringing out the cramps and looked into the eyes of her friend. It really is me, Meredith, she said.Meredith nodded and swallowed visibly. Right then what Elena would have liked most in the world would have been for the other girl to give her a hug. But Meredith wasnt much of the hugging type, and right now she was backing slowly away to sit on the bed again.Sit down, she said in an artificially calm voice. Elena pulled out the desk chair and unthinkingly took up the same position Meredith had been in before, elbows on knees, head down. Then she looked up. How did yo u know?I Meredith just stared at her for a moment, then shook herself. Well. You- your body was never found, of course. That was strange. And then those attacks on the old man and Vickie and Tanner-and Stefan and little things Id put together about him-but I didnt know. Not for sure. Not until now. She ended almost in a whisper.Well, it was a good guess, Elena said. She was trying to behave normally, but what was normal in this situation? Meredith was acting as if she could scarcely bear to look at her. It made Elena feel more lonely, more alone, than she could ever remember being in her life.I asked Bonnie to come over at seven oclock, if her mother would let her. Its probably her. Ill go see. Meredith seemed almost indecently eager to get away.Wait. Does she know?No Oh, you mean I should break it to her gently. Meredith looked around the room again uncertainly, and Elena snapped on the little reading light by the bed.Turn the room light off. It hurts my eyes anyway, she said quiet ly. When Meredith did, the bedroom was dim enough that she could conceal herself in the shadows.Waiting for Meredith to return with Bonnie, she stood in a corner, hugging her elbows with her hands. Maybe it was a bad idea trying to get Meredith and Bonnie involved. If imperturbable Meredith couldnt handle the situation, what would Bonnie do?Meredith heralded their arrival by muttering over and over, Dont bawl now dont scream, as she bundled Bonnie across the threshold.Whats wrong with you? What are you doing? Bonnie was gasping in return. Let go of me. Do you know what I had to do to get my mother to let me out of the house tonight? She wants to take me to the hospital at Roanoke.Meredith kicked the door shut. Okay, she said to Bonnie. Now, youre going to see something that will well, its going to be a shock. But you cant scream, do you understand me? Ill let go of you if you promise.Its too dark to see anything, and youre scaring me. Whats wrong with you, Meredith? Oh, all right, I promise, but what are you talking-Elena, said Meredith. Elena took it as an invitation and stepped forward.Bonnies reaction wasnt what she expected. She frowned and leaned forward, peering in the dim light. When she saw Elenas form, she gasped. But then, as she stared at Elenas face, she clapped her hands together with a shriek of joy.I knew it I knew they were wrong So there, Meredith-and you and Stefan thought you knew so much about drowning and all that. But I knew you were wrong Oh, Elena, I missed you Everyones going to be so-Be quiet, Bonnie Be quiet Meredith said urgently. I told you not to scream. Listen, you idiot, do you think if Elena were really all right shed be here in the middle of the night without anybody knowing about it?But she is all right look at her. Shes standing there. It is you, isnt it, Elena? Bonnie started toward her, but Meredith grabbed her again.Yes, its me. Elena had the strange feeling shed wandered into a surreal comedy, mayhap one written by Kafk a, only she didnt know her lines. She didnt know what to say to Bonnie, who was looking rapturous.What are you two being so mysterious for? Shes here, but shes not all right. Whats that supposed to mean?Elena didnt know whether to laugh or cry. Look, Bonnie oh, I dont know how to say this. Bonnie, did your psychic grandmother ever talk to you about vampires?Silence fell, heavy as an ax. The minutes ticked by. Impossibly, Bonnies eyes widened still further then, they slid toward Meredith. There were several more minutes of silence, and then Bonnie shifted her weight toward the door. Uh, look, you guys, she said softly, this is getting really weird. I mean, really, really, reallyElena cast about in her mind. You can look at my teeth, she said. She pulled her upper lip back, poking at a canine with her finger. She felt the reflexive lengthening and sharpening, like a cats claw lazily extending.Meredith came forward and looked and then looked away quickly. I get the point, she said, but in her voice there was none of the old wry pleasure in her own wit. Bonnie, look, she said.All the elation, all the excitement had drained out of Bonnie. She looked as if she were going to be sick. No. I dont want to.You have to. You have to believe it, or well never get anywhere. Meredith grappled a stiff and resisting Bonnie forward. Open your eyes, you little twit. Youre the one who loves all this supernatural stuff.Ive changed my mind, Bonnie said, almost sobbing. There was genuine hysteria in her tone. Leave me alone, Meredith I dont want to look. She wrenched herself away.You dont have to, Elena whispered, stunned. Dismay pooled inside her, and tears flooded her eyes. This was a bad idea, Meredith. Ill go away.No. Oh, dont. Bonnie turned back as quickly as shed whirled away and precipitated herself into Elenas arms. Im sorry, Elena Im sorry. I dont care what you are Im just glad youre back. Its been terrible without you. She was sobbing now in earnest.The tears that wouldnt c ome when Elena had been with Stefan came now. She cried, holding on to Bonnie, feeling Merediths arms go around both of them. They were all crying-Meredith silently, Bonnie noisily, and Elena herself with passionate intensity. She felt as if she were crying for everything that had happened to her, for everything she had lost, for all the loneliness and the fear and the pain.Eventually, they all ended up sitting on the floor, knee to knee, the way they had when they were kids at a sleepover making secret plans.Youre so live, Bonnie said to Elena, sniffling. I dont see how you can be so brave about it.Your hands arent cold. Meredith squeezed Elenas fingers. Just sort of cool. I thought theyd be colder.Stefans hands arent cold either, Elena said, and she was about to go on, but Bonnie squeaked Stefan?Meredith and Elena looked at her.Be sensible, Bonnie. You dont get to be a vampire by yourself. Somebody has to make you one.But you mean Stefan . . . ? You mean hes a ? Bonnies voice cho ked off.I think, said Meredith, that maybe this is the time to tell us the whole story, Elena. Like all those minor details you left out the last time we asked you for the whole story.Elena nodded. Youre right. Its hard to explain, but Ill try. She took a deep breath. Bonnie, do you remember the first day of school? It was the first time I ever heard you make a prophecy. You looked into my palm and said Id meet a boy, a dark boy, a stranger. And that he wasnt tall but that he had been once. Well-she looked at Bonnie and then at Meredith-Stefans not really tall now. But he was once compared to other people in the fifteenth century.Meredith nodded, but Bonnie made a faint sound and swayed backward, looking shell-shocked. You mean-I mean he lived in Renaissance Italy, and the average person was shorter then. So Stefan looked taller by comparison. And, wait, before you pass out, heres something else you should know. Damons his brother.Meredith nodded again. I figured something like that . But then why has Damon been saying hes a college student?They dont get along very well. For a long time, Stefan didnt even know Damon was in Fells Church. Elena faltered. She was verging on Stefans private history, which shed always felt was his secret to tell. But Meredith had been right it was time to come out with the whole story. Listen, it was like this, she said. Stefan and Damon were both in love with the same girl back in Renaissance Italy. She was from Germany, and her name was Katherine. The reason Stefan was avoiding me at the beginning of school was that I reminded him of her she had blond hair and mordant eyes, too. Oh, and this was her ring. Elena let go of Merediths hand and showed them the intricately carved golden circlet set with a single stone of lapis lazuli.And the thing was that Katherine was a vampire. A guy named Klaus had made her one back in her village in Germany to save her from dying of her last illness. Stefan and Damon both knew this, but they didnt care. They asked her to choose between them the one she wanted to marry. Elena stopped and gave a lopsided smile, thinking that Mr. Tanner had been right history did repeat itself. She only hoped her story didnt end like Katherines. But she chose both of them. She exchanged personal line of credit with both of them, and she said they could all three be companions through eternity.between them the one she wanted to marry. Elena stopped and gave a lopsided smile, thinking that Mr. Tanner had been right history did repeat itself. She only hoped her story didnt end like Katherines. But she chose both of them. She exchanged blood with both of them, and she said they could all three be companions through eternity.Sounds dumb, said Meredith.You got it, Elena told her. Katherine was sweet but not very bright. Stefan and Damon already didnt like each other. They told her she had to choose, that they wouldnt even think of sharing her. And she ran off crying. The next day-well, they found he r body, or what was left of it. See, a vampire needs a talisman like this ring to go out in the sun without being killed. And Katherine went out in the sun and took hers off. She thought if she were out of the way, Damon and Stefan would be reconciled.Oh, my God, how ro-No, it isnt, Elena cut Bonnie off savagely. Its not romantic at all. Stefans been living with the guilt ever since, and I think Damon has, too, although youd never get him to admit it. And the immediate result was that they got a couple of swords and killed each other. Yes, killed. Thats why theyre vampires now, andthats why they hate each other so much. And thats why Im probably crazy trying to get them to cooperate now.

History and Development of the Charismatic/Pentecostal Movement Essay

Charismatic exploit is a phantasmal revival movement that developed during the late 1960s among members of several Christian denominations, nonably Roman Catholics, Episcopalians, and Methodists. Charismatic entrust they can change by reversal infused with the Holy pith. When so infused, they believe, they may be granted such charisms (gifts) as the ability to speak in tongues, to make prophecies, and to heal by trustfulness. Charismatics share many beliefs and practices with the pentecostal churches but do not consider themselves to be Pentecostals (Duin, 2000).Moreover, Pentecostal churches base their faith and practice on certain religious experiences that are recorded in the bare-assed Testament. Pentecostal churches teach that every Christian should seek to be filled with the Holy Spirit. The proof of this occurrence comes when the person speaks in tongues. That is, the person will speak in a language he has never learned. The New Testament refers to the disciples spe aking in tongues on the day of Pentecost (Acts 2), and mentions speaking in tongues elsewhere (Blumhofer, 2004).Pentecost is an important springtime Jewish and Christian feast. Its name comes from the Greek word fifty because Pentecost occurred on the fiftieth day after the first day of Passover. As a Jewish grace feast for the harvest, it was c all in alled Feast of Firstfruits (Exodus 2316) and Shabuot or the Feast of Weeks (Leviticus 23 15-21) From the day after the Sabbath, the day you brought the sheaf of the wave offering, count off seven broad(a) weeks. Count off fifty days up the day after the seventh Sabbath and then present an offering of new grain to the Lord.From wherever you live, postulate two loaves made of two-tenths of an ephah of fine flour, baked with yeast, as a wave offering of firstfruits to the lord. Present with this bread seven male lambs, each a year old and with out defect, one young bull and two rams From the least the 200s, Christians celebrated Pentec ost on the seventh Sunday after easterly as one of their greatest feasts. It commemorated the descent of the Holy Spirit (called Holy Ghost in older English) upon the apostles on this day (Acts 2 1-4)When the day of the Pentecost came, they were all together in one place. Suddenly a sound like the blowing of a violent wind came from heaven and filled the whole house where they were sitting. They see what seemed to be tongues of fire that separated and came to rest on each of them. All of them were filled with the Holy Spirit and began to speak in separate tongues as the Spirit enabled tem. He had been promised by delivery boy as another Comforter (John 1416) and came to strengthen the apostles after their nine days of prayer following the ascension of the Nazarene into heaven.Then they showed themselves more courageous and zealous than they had been before. Pentecost was later called Whitsunday or White Sunday, because the newly baptized wore their white baptismal robes on tha t day, marking the end of the enraptured Easter season (Pentecostalism. The Columbia Encyclopedia, 6th Edition, 2004). In masses of the Latin Rite of the Roman Catholic church, red vestments are worn on Pentecost to represent the tongues of fire representing the Holy Spirit (Acts 23).This paper studies the origin of Pentecostal/Charismatic movement and knows some denominations that practice the Pentecostal beliefs. II. Discussion Pentecostal churches that accent glossolalia (speaking in unknown tongues). The term Pentecostal refers to the day of Pentecost, soon after the death of Jesus, when the disciples spoke in unknown tongues. In present-day Pentecostal churches, during the passing emotional moments of the service, members make utterances that have not been identified with any known language (Wakefield, 1999).Pentecostals also believe that they can receive other supernatural gifts. For example, they believe they can be given the ability to prophesy, to heal, and to interpr et what is said when someone speaks in an unknown tongue. The New Testament refers to these gifts in I Corinthians 12-14. Aside from these classifiable qualities, however, individual Pentecostal denominations do not usually resemble each other. There are more than three dozen Pentecostal groups in the join States of America alone. They differ radically in size as well as in their interpretations of matters of faith and practice.Some of the largest Pentecostal bodies are Church of theology in Christ, 3,700,000 members Assemblies of God, 2,100,000 United Pentecostal Church International, 500,000 Church of God (Cleveland, Tennessee), 455,000 Church of God in Christ, International, 200,000 International Church of the Four-square Gospel, 180,000 Pentecostal Holiness Church, 110,000 and the Pentecostal Church of God, 90,000. Pentecostal churches trace their origins to revivals of tongue-speaking that occurred at Bethel Bible College in Topeka, Kans., in 1901, and at the Azusa Street Mis sion in Los Angeles in 1906. Similar revivals also took place in Great Britain and in Europe, Asia, and Latin America during the early 1900s. Since the 1930s, the Pentecostal denominations have grown rapidly. With a worldwide membership estimated at seven million, the Pentecostals are sometimes called Christianitys Third Force, alongside the Roman Catholicism and traditional Protestantism (Ferm, 2001). Many Pentecostal churches are Methodist in origin. John Wesley, one of the founders of Methodism, believed on perfectionism.As Methodism later decreased its emphasis on perfectionism, many American Methodists broke away and formed their own churches. Stressing the perfectionist doctrine, these bodies are became known as Holiness churches. The Pentecostal churches are usually defined as those Holiness churches that consider speaking in tongues an important sign of having attained holiness. A. Assemblies of God Assemblies of God are Protestant Christian churches forming the largest of t he Pentecostal denominations. The basic belief of this denomination is that conversion is a religious rebirth.Speaking in tongues is the first sign that that the Holy Spirit has been authorized by the reborn. Members believe in the infallibility of the Bible, the second coming of Christ to rule the world, eternal bliss for believers, and eternal punishment for the wicked. The denomination is composed of churches (assemblies) that are supreme in local affairs. Each ordained minister and one lay delegate from each assembly is a member of the General Council, which is responsible for missions, publications, and other matters affecting the entire denomination (Assemblies of God.The Columbia Encyclopedia, Sixth Edition, 2004). The church arose out of a rival movement about 1900. The General Council was organized in 1914. social rank is about 2,100,000 in the United States. The church has missions in a number of African and Latin American nations. International headquarters are in Spr ingfield, Missouri. B. Practices and Beliefs render of Tongues Gift of tongues in Christianity is the ability to praise God in words that cannot be identified with any known language.It is also called glossolalia (Greek tongue talking). Speaking in tongues occurs during moments of intense religious emotion. Many people believe that the speaker is possessed by the Holy Spirit. In Pentecostal churches, the gift of tongues is considered a sign of spiritual perfection. Early in the 1960s, speaking in tongues spread through some congregations in other denominations, especially in the Episcopal, Roam Catholic, and Methodist churches (Glossolalia. The Columbia Encyclopedia, Sixth Edition, 2004).According to the Bible (Acts 21-13), 50 days after the Resurrection of Jesus, on the Jewish Pentecost, the Holy Spirit entered the disciples of Jesus and caused them to speak strange words. Many distant Jews who were present understood the words, even though they were not spoken in their language . Instances of the gift of tongues are recorded in later New Testament books. However, in all these cases the words were directed to God and were not understood by any human being (Pentecostal movement. Grolier Encyclopedia of Knowledge). Faith betterFaith healing is another practice of Pentecostal church. Faith healing is the curing of tangible and mental ailments through religious faith of the sufferers. Medical science recognizes many kinds of physical disorders that are caused or made worse by the patients state of mind. These ailments can often be cured or relieved by mental therapyby changing the patients outlook rather than by prescribing medicine. Faith in the curing power of religion or religious relics has often brought about this mental change. Some reported cases faith healing, however, cannot be explained medically (Foster, 2006).Faith healing has been recorded in many religions under mingled conditions. In the Old Testament, the Syrian general Naaman was cured of l eprosy when, as instructed by the prophet Elisha, he washed himself seven times in the River Jordan (II Kings 510-14). Jesus performed many miracles of healing. After healing a leper, Jesus said to the man Arise, go thy way thy faith hath made thee whole (Luke 1719). The apostles performed acts of healing. They believed that prayer of faith shall save the sick (James 515). III. ConclusionThe Pentecostal churches stress the doctrine of perfectionism, or holiness, which states that man has free choice, while still on earth, may become sinless through uniting with God. This doctrine rose in reaction to the Calvinist doctrine of predestination, which states, in part, that man is sinful by nature and may be saved only through Gods choice. Other beliefs common to many Pentecostal churches are the fundamentalist ideas that the entire Bible is literally true and that Jesus will return physically to rule the earth some of the Pentecostal churches also practice faith healing (Pentecostal chur ches.New Standard Encyclopedia). recognition1. Blumhofer, Edith L. Thinking in the Spirit Theologies of the Early Pentecostal Movement. The Christian Century. Volume 121. cut down 7. Page 43+. April 6, 2004. 2. Duin, Julia. Charismatic Movement Transcends Sects. The Washington Times. Page descend 2. March 31, 2000. 3. Pentecostalism. The Columbia Encyclopedia, Sixth Edition. Columbia University Press, New York, 2004. 4. Wakefield, Dan. Fire from Heaven The Rise of Pentecostal Spirituality and the Reshaping of Religion in the Twenty-First Century.The Nation. Volume 260. Issue 3. Page Number 98+. January 23, 1999. 5. Pentecostal churches. New Standard Encyclopedia. Vol. 13, Page 456-457. 6. Assemblies of God. The Columbia Encyclopedia, Sixth Edition. Columbia University Press. New York, 2004. 7. Glossolalia. The Columbia Encyclopedia, Sixth Edition. Columbia University Press. New York, 2004. 8. Foster, Mark. Sugar Grove Pentecostal Church Draws Members. Daily Herald. Page Number 4, Dec. 18, 2006. 9. Ferm, Vergilius. An Encyclopedia of Religion. Philosophical Library. New York,

How Is The Energy Generated Environmental Sciences Essay

Hydro engineering relies on pee to reproduce electrical pushing. Water is integrity of the most abundant beginnings in the universe we live in today. The force per unit atomic number 18a of the H2O go away turn the turbines and generators to reproduce the electricity that so many people to a great extent depend on today. This engineering is clearly the manner frontward in respects to providing the general creation with clean renewable might.IntroductionThis study totallyow be concentrating on the Renewable energy beginning of Hydro engineering that is used in the universe today. It result be discoursing how this energy is transformed from kinetic energy into electrical energy, the constituents and dissimilar types of turbines that be used to build this engineering. How much force provide be generated from this Renewable energy beginning. The study will be discoursing Ireland s largest Hydro power station Ardnacrusha in Co. Clare. This study will discourse the advantages disadvantages of utilizing this energy beginning to provide electricity to the globe and the new advanced underwater turbines.Hydro TechnologyHydro engineering is a renewable energy that is one of the most abundant that is available today. Hydro power is supplied by buzz off forthing energy from falling H2O or cyclosis H2O and even sea H2O. This means that all these beginnings can be renewed. Unlike other energy beginnings that are most normally used like coal, gas and rough oil, the fact of the affair is that we will neer run out of H2O to the full, so we can safely state that this H2O can besides be renewed after we have used it.( Lenntech n.d. )hypertext transfer protocol //www.lenntech.com/water-energy-faq.htm ixzz1dEQL6A2EWhen rain H2O fall or flows depending on the environment/application energy will be generated. This power coevals of H2O is carried out in big power workss, this will include a figure of process stairss and the usage of power coevals equipment such as tu rbines and generators. The energy that is expelled from the H2O can be used to bring forth electricity.( Lenntech n.d. )hypertext transfer protocol //www.lenntech.com/water-energy-faq.htm ixzz1dETAw6PvThere are two chief factors involved in the operation of hydro engineering. The perpendicular autumn of H2O this is known as the caput this is indispensable for hydro power coevals. Fast streamlined H2O by itself does non storage area sufficient energy merely on a big surmount illustration of this would be the ocean, this is why the caput is so of import. Large scale coevals would imply the likes of ocean turbines that would be situated on the sea bed. So for smaller graduated table production the caput and flow rate are indispensable.There are two basic turbines that are used in this industry they are called reaction turbines and impulse turbines. The reaction turbine, this type of turbine is turned by the force/pressure of the H2O. The blades are mounted on the go arounding rotor coil these are called traveling blades. An illustration of this turbine is the Francis and Propeller turbine.( Tpub n.d. )hypertext transfer protocol //www.tpub.com/content/engine/14105/css/14105_164.htmFigure 1 shows a David Darling Francis reaction turbine.hypertext transfer protocol //www.daviddarling.info/images/Francis_turbine.jpgFigure ( David Darling n.d. )Impulse turbines are turned/driven when a high speed of H2O which is directed from a nozzle hits of the vanes or pail. These vanes or pails are attached to a wheel which so turns the turbine and removes the kinetic energy from the H2O.( David Darling n.d. )hypertext transfer protocol //www.daviddarling.info/encyclopedia/I/AE_impulse_turbine.htmlFigure 2 below shows the impulse turbine that are used in hydro engineering.hypertext transfer protocol //www.leander-project.homecall.co.uk/Engines/Impulse.jpgFigure ( leander-project.homecall.co.uk n.d. )The turbines that have been mentioned above are non suited for all the same applications as different power station will differ. For illustration a hydro station that will hold a caput tallness of over 200 meters, the pelton impulse turbine will be suited. For applications that range between 6 meters and 300 meters the Francis and Kaplin reaction turbines will be suited. For extremist low caput highs between 6 and 8 meters the reaction turbine which includes the reversible Gorlovka and the Francis tally over river turbines may be installed. The Francis turbines where the most common types used in early portion of this century but have since been superseded by the propellor turbine, this turbine is more compact and can be run in the same application. The Francis and Pelton have a good efficiency of around 70 to 85 % . Many of these turbines are still in topographic point today as they so where so normally used many old ages ago.How is the aught GeneratedA hydro power works will dwell of a high H2O dike, this dike will be built across a river this in debar will now make a reservoir to incorporate the H2O, the station will house the turbines and generators this is where the procedure will take topographic point to remove out the energy organize the H2O and convert this energy to electricity. The first measure is gather the H2O, the beginning of the H2O will be from natural rain, rivers and streams all of these will be directed to the reservoir. This is called the hydrological rhythm. After all the H2O has been ga in that locationd the H2O will fall through the dike and into the hydropower works this in go will get down to turn the turbine. The turbine will now get down to drive the generator the shaft will get down to get around which will turn a figure of barons that are inside the generator this procedure produces the electricity. The power that is usually generated by this type of engineering is 10.5 Kv ( kg Vs ) 10,500 Vs. Step up transformers will increase the electromotive forces to the desired end product for local distribut ion this will be 40 Kv ( kilo Vs ) 40,000 Vs and for monthlong distribution this will be stepped up once more to 110 Kv ( kilo Vs ) 110,000 Vs. This procedure does non do any pollution as no harmful chemicals are added to the H2O, after the H2O has been used it will be dispersed back into the river merely as how it came in.( Lenntech n.d. )hypertext transfer protocol //www.lenntech.com/water-energy-faq.htm ixzz1dFVeQ8iiUnder Water TurbinesUnder H2O turbines are progressively cosmos installed today. They are soundless, unseeable, predictable and come from a renewable energy beginning. Twice a twenty-four hours every twenty-four hours the tides will alter high tide and low tide. The H2O flows in and out of the seashore lines and estuaries. The force of these tides will whirl the turbines in both waies which will in bend produce electricity. The turbines will be situated at the underside of the sea bed so they will non blockade any shipboard soldier traffic. These turbines are now being produced in Ireland today by out-of-doors Hydro and have new innovated designs characteristics so they do nt hold any impact on the marine environment. A big gap in the Centre will supply equal infinite for marine bearing to go through safely. These new foxy designs will guarantee that fish and any other marine life will be able to go through with easiness and non go embroil at bottom the turbine. These new turbines do non utilize any lubricating fluids that may be harmful pollution to the marine environment.( Open Hydro n.d. )www.openhydro.comThe universe has many oceans which mean that in that respect is a immense resource for non fouling renewable energy. Around the universe there are many major tidal watercourse, these can be identified within every continent doing this natural resource available everyplace in the universe. It has been stated that if 0.1 % of the oceans energy was harvested it would be able to fulfill the planetary demand by more than five times over .Beginning UK Marine Foresight PanelFigure 3 below shows the submerged turbines that are produced in Ireland by Open Hydro.hypertext transfer protocol //www.openhydro.com/images/devGal4.jpgFigure ( unfastened hydro n.d. )*Source UK Marine Foresight Panel.Ireland s Hydro Power StationIreland s first hydro power station was commissioned in 1929 at the Ardnacrushafacility is Co. Clare. This is Ireland s largest hydro river strategy. It is operated on a intent built canal which is connected to the river Shannon. This power generating works is made of three Francis perpendicular shaft turbine generators and there is one Kaplan perpendicular shaft turbine generator this turbine was non commissioned until 1934. The Ardnacrusha episode has an one-year end product of 332,000 Mwh ( mega W hours ) . This power is generated at 10.5 KV ( kilo Vs ) 10,500 Vs. This power is so transformed utilizing a measure up transformer to 40 KV 40,000 Vs for local distribution and 110 KV 110,000 Vs for long d istance distribution. When the installation was first built in 1929 the end product of the works was 86 MW 86,000 ( mega Watts ) this was equal to run into the full electricity demand of Ireland. The caput tallness of this hydro works is 28.5 meters which is the like of around 95 feet.Today theArdnacrusha works merely represents 2 % of the ESB s entire installed capacity.( ESB n.d. )hypertext transfer protocol //www.esb.ie/main/about-esb/ardnacrusha.jspFigure 4 below shows the ESB s Ardnacrusha installation in Co. Clare.hypertext transfer protocol //b.vimeocdn.com/ts/125/790/125790166_640.jpgFigure ( vimeo n.d. )Advantages and DisadvantagesHydro power has a high sum of utile energy and has a low cost of runing with actually small care costs. These types of workss emit really small emanations during their operation. The submerged turbines are non seeable to oculus they are besides soundless. They besides have a life span of two to ten times that of a coal or atomic works. The dike will assist environing countries from deluging.However there are almost disadvantages hydro power Stationss take up a batch of infinite this will hold a knock on consequence to animal home cubic yard and wildlife. Large dikes will interrupt the flow of rivers. With big dikes and reservoirs fish may be unable to swim to the sea mercantile establishment this will hold an consequence on the aquatic life and may diminish fish stocks in the surrounding seashore lines.( Lenntech n.d. )hypertext transfer protocol //www.lenntech.com/water-energy-faq.htm ixzz1dFvvPjILDecisionHydro engineering uses a effect renewable energy to bring forth electrical. This type of engineering is a really sustainable manner to reproduce energy with really small emanations being released during the procedure. The thought of seting the turbines underwater is really efficient manner to bring forth electricity around sea countries due to the fact that people populating on these seashore lines clearly do nt des ire air current turbine environing at that place country as people maintain that the turbines obstruct the scenic position.

Lvmh and Luxury Goods Marketing

1. Bernard Arnault has built LVMH into a highlife goods empire by making numerous acquisitions. Describe the st cropgy is being used here? cover why you agree or disagree with this type of strategy. If you disagree, what substitute tactics would you use?Actually Mr. Bernard Arnault, one of the richest men in the world who took control of LVMH in 1990, has been snapping up extravagance provokers during past two decades one after another. He has build LVMH into a luxury good empire by conducting a discriminating acquisition strategy with which I agree. Now LVMH has more than 60 brands under control and is still pursuing some others including the old famous family condescension Hermes.LVMH organise is made up of Wines and Spirits, Fashion and Leather goods, Watches and Jewelry, Perfumes and Cosmetics and Selective Retailing. Although some may argue that there are issues such as lack of concentration on core business thereby exclusivity and rarity which are main characteristics o f luxury brands give the sack be faded, I firmly believe that not only has Mr. Arnault saved these special features of the business and is still strainsed on prestige, he has improved the profitability of each division by creating synergy between subsidiaries in damage of cost, corporate and management synergy.Synergy, in general may be defined as two or more agents working to stay puther to produce a result not obtainable by any of the agent independently. Corporate synergy occurs when corporations interact congruently. A corporate synergy refers to a monetary eudaemonia that a corporation expects to realize when it merges with or acquires another corporation (Synergy).As result of corporate synergy and this partnership, LVMH now has a bigger market share, wider function of products and less competition because the competitors are now members of the group and are all working together in a coordinated way. On top of that, they can take advantage of the existing selective retai ling outlets to differentiate their products by adding value in their offering and demonstrate them as distinctive. Also, prestige, luxury and quality associated with the brand LVMH influences every item being presented in these shops.A cost synergy refers to the opportunity of a combined corporate entity to reduce or eliminate expenses associated with racecourse a business. Cost synergies are realized by eliminating costs that are viewed as duplicate within the merged entity. (Synergy) This means reducing promotional and advert costs, sales cost, shipping cost, travel cost and also some managerial cost such as certain executives, human resources and head quarters mapping cost which finally influences companies bottom-line.Synergy in terms of management and in relation to team working refers to the combined effort of individuals as participants of the team. The condition that exists when the organizations split interact to produce a joint effect that is greater than the sum of t he parts acting alone (Synergy) As stated in the text of this scale study, Arnault implemented a corporate restructuring that groups the companys subsidiaries into divisions. Previously, the heads of individual subsidiaries reported directly to Arnault now, division heads meet with him to discuss strategy. Notes Arnault, Its much more efficient, because it allows us to put into practice all the synergies between the different brands in a coordinated way.Francesco Trapani, CEO of the Bulgari Gruop, the luxury brand recently acquired by LVMH, said The 2010 financial results show how the Company was able to brilliantly overcome the economic slump, reaping the benefits of the efficiency and cost containment strategy and therefore becoming more solid. At the same time, the bad creative and product development activity generated an even more competitive product offer, which enjoyed great success in all product categories. (Knowel) He added At this positive moment of strong top-line grow th, our alliance with the LVMH Group has created new synergies that will enable Bulgari to strengthen even more and pursue its long-term, worldwide growth. (Knowel)In conclusion, I believe that Mr. Bernard Arnault has made LVMH into the word biggest luxury brand by adopting acquisition strategy and creating cost, corporate and management synergy between divisions of the group.2. How do LVMH executives adjust prices in response to changing economic conditions, and why?In response to changing economic conditions, LVMH executives adjusted prices in sepcific ways in each market. In Asian markets, Patrick Choel, president of the perfume and cosmetics division has increased wholesale prices in order to discourage discount retailers from selling the products to consumers at low price. Instead, he has reduced the ad budget to offset profitability in case the company faces a decline in sales. In countries where LVMH faced currency devaluation, managers raised the price to counteract the ef fect of currency depreciation. In Indonesia, the chairman of Vuitton, Mr. Yves Carcell canceled the plan for opening a new store.Since Japan market is sluggish and there has not been a score of soon economic recovery, Nipponese consumers are reluctant to invest in stock market. Mr. Arnault figured out the difference between Japan where most of his business is, and the rest of Asia. He noted Japan is in a growth slump, but it isnt going to grow the same difficulties as Korea or Indonesia. Japanese had not many other spending option and executives decided to raise prices at Louis Vuittons Japanese store.Also Louis Vuiton manageres has worked closely with tour operators to predict the number of Japanese tourists traveling in Asia and to Hawaii whom 75% of sales depends on. At peak of tourism, they increase the price by 10 to 22 percent to maximize profit. furthermore LVMH took advantage of crisis by renegotiating store leases in Asian cities. In some cases, the company extended leas e terms longer than before and reduced the rate by as much as one-third which resulted saving for the company.The overall result has been an increase in price and the rationale behind this decision is the event that price perception is a critical component of luxury goods appeal. In fact, executives know that sales volume would decline sharply due to the effect of crisis and they have lost a big number of their customers. It is not a good time for expansion and opening new stores, so they decided to stay focused on the narrow market segment of their loyal customers. Those who still had notable disposable income shaped a niche market which was still large equal to be profitable. On the other hand, LVMH helped profitability by reducing the cost and cutting expenditures on advertisements. This was the adjustment executives made as opposed to the other alternative reducing the price and presenting products to a bigger number of consumers.3. Explain why some customer might think the hi gh retail prices charged for luxury goods are worth paying?As peoples income increases, they are more spontaneous to buy luxury goods because the demand of luxury items increase as people get wealthier. According to wikipedia.com once the consumption of luxury was limited to the elite classes which meant whatever the poor cannot have and the elite can was identified as luxury.Consumers are willing to pay high prices for luxury goods because the brand is associated with quality, durability, scarcity and beauty. In fact, consumers pay for these values that they obtain by purchasing a luxury item.Several researchers focus on exclusivity dimension and argue that luxury evokes a sense of belonging to a certain elite group. Prof. Jean-Noel Kapferer, takes an experiential approach and defines luxury as items which countenance extra pleasure by flattering all senses at once (Luxury). Using luxury goods is a lifestyle and shows the wealth of consumer. These can also be reasons behind why s ome pay high retail prices charged for such items.4. How were luxury goods marketers affected by the subnormality in tourism that followed specially after the attacks of September 11, 2001?If we take a look at marketing mix, we can see what has been affected by slowdown in tourism is place, where a good or service is presented. Luxury goods are mainly presented in duty free shops at airports, in hotels and attractive places as tourist destinations. With the slowdown in tourism, as people are less willing to travel, airports hotels and attractive places are not that busy compared to the days before September 11 terrorist attack. all the same those who still travel might care less about luxury because their main concern is security during the flight and at destination. I think this is how luxury goods marketers were affected by slowdown in tourism.

Kongi’s Harvest Essay

President Kongi, the dictator of an African developing nation, is trying to modernize his nation subsequently deposing King Oba Danlola, who is being held in detention. Kongi de bitds that Danlola present him with a ceremonial yam at a severalise dinner to indicate his abdication. Daodu is Danlolas nephew and heir, and he grows prized yams on his farm. Daodus lover Segi owns a bar where Daodu spends most of his time. Segi is revealed to be Kongis former lover.The different tribes atomic number 18 resisting unification, so Kongi tries to reach his goal by any means necessary, including forcing government officials to wear traditional African outfits and even seeking advice from the man he deposed. In a climactic scene at the state dinner, Segi presents Kongi with the disembodied genius of her father. Post-Colonial review Colonization and Post colonization are twin evils in the so c solelyed civilized times. During colonization criticizing the Empire was not possible. moreover i n the postcolonial era the colonized is not spared.Personal freedom demands that a human being has the right to preserve any religion and faith. According to sociable rights he has the right to social security, protection and participation in the heathen life of the community. But these fundamental rights were denied to the colonized and the post colonized. The sources in the post-colonial period uncover the cruelty and dehumanization ruthlessly practiced on the colonized. The very(prenominal) means and ways by which the native was discredited become effective weapons to hit can at the colonizer.The native was demeaned as a savage, his land called a dark continent, his heart heart of darkness, his religion barbarous and himself a cannibal. The post-colonial writers use their cultural myths to prove the ignorance of the colonizer and his racial prejudice. They prove through their myths the greatness of their religion, the cosmic vision engendered by it, the possibility of rejuv enation indispensable in it and the lesson of universal brotherhood advocated by it. The writers aim at exploiting various techniques as myths, carnival, intertextuality, palimpsest, contrapuntal reading, symbol etc.to help the reader see things from a new angle so as to question the official version of history, the so-called authenticity of the canon and the authority of intellectual hegemony exercised. The difference between the post-modern writer and the post colonial writer is that the former does it to promote nihilistic playfulness, whereas the post colonial writer is always conscious of the suffering underg hotshot by the individuals starting from concrete experience of pain he expresses his characters utter disorientation at the psychic level.The post colonial writing aims at rejuvenation of the wronged colonized and restoration of their prestigiousness and identity. Myths engender ageless wisdom. When a writer uses it creatively and dynamically, he invests them with fresh layers of meaning and interpretation which highlight the contemporary reality. Malinowskis observation affirms this Myth contains germs of the proximo epic, romance and tragedy and continues that it finds itself in certain of its forms of subsequent literary elaboration Myth and ritual in a primitive society are the sustaining forces both(prenominal) in normal times and crises.No wonder all the African writers seek recourse to myths for restoring the fragmented personality of their fellowmen and reclaiming the distorted faith in their cultural tradition. Soyinka as a great traditionalist uses myths as the core of all his writings whether they are poems, fiction or drama. Kongis harvest home, Wole Soyinkas latest play, has predictably created a sensation at Dakar, where it was presented at the Negro Arts Festival.For Soyinka has chosen a topical subject, African nationalism, and whether he tikes it nor not, his hysterical Kongi has probably been judged as oftentimes in terms of Nkrumahs ejection, for example, as by artistic merit. This reviewer is largely unfamiliar with African politics and the traditional values upon which Soyinka apparently bases so much of his work. Consequently, these remarks of an unabashed outsider of necessity concern only the clarity and coherence of the play considered, perhaps unfairly, outside its social context.As mounted in the Arts Theatre at the University of Ibadanthat is, without the final scene, called Hangover and with considerable confusion attending its conclusionthe play depicts for the outsider what sort of harvest a man reaps if he sits alone on top of a mountain. That is Kongissituation through the greater part of the play he descends, at its conclusion, to a harvest festival at which he is presented not with the expected new yam, but with a decapitated human head. Kongi, as several characters, in the play remark, is a poseur , a man who thinks of the world as watching him at all times.He sits upon his mountain lo oking out on the world, and at the same time, he is visible to that world. such an approach to living seems to have taken its, emotional toll. Kongi is, hysterical, and in the final scene, he delivers in mime what we are t anile is a four-and-a-half hour speech, patch the affairs of the world the preparation of the new yam and the noise thereof completely submerge the words of the speech. The speech is pure gesture, devoid of sound, unheeded by the world. The gestures, full of fury only, are those of a man out of all emotional control.Ranged in various more or less defined sorts of underground to Kongi are at least three characters. The first of these is Oba Danlola an old arid obstinate, fiery, traditional leader. He is in detention as the play opens, presumably for opposition, and one of the major actions of the play involves bringing Danlola to present Kongi with the new yamto renounce in effect his traditional authority in I he feast. The old order passeth, and DanLoJa final ly consents. The outsider is not rightfully competent to judge Obas generically. One imagines that, as sketched, Danlola is a stock traditional figure, and he seems a grateful enough fellow.Yet, at one establish, two characters liken him to Kongi in the important matter of posing. To the uninitiated there seems little obvious point in the equality not because Danlola does not pose, but because his posing does not seem to have produced hysteria. This point may also be made in terms of the whimsey of isms developed in the play. Kongi, rules a land called Isma and his devotion to isms seems to be a function of his posing. Danlola, poseur though he may be, cant really be said to participate in this fondness for isms.We have only the bare, unqualified assertion of Danlolas likeness to Kongi and nothing visible on the symbolize to suppport the statement. Surely, here Soyinka has either led us considerably astray, or has failed entirely to carry us with him. Apparently, Danlolas neph ew and heir, Daodu, is also ranged against Kongi and his isms, Apparently because we see Daodu do cunning little. He is a bar fly, a habitue of Segis Night Club, and Segis present Lover. Segi is a sort of Herculean whore, Kongis former schoolmarm about whom terrifying stories circulate she destroys men, the suggestion is, sexually.It does not appear to what extent. Kongis present, highly disorganized condition is owing to his experiences with her. Nor is it clear whether it is Segi or Daodu who has the upper go past in their relationship. When he is not drinking Segis beer. Daodu raises champion yams on a farm settlement which runs a sort of Loose competition to the Kongian establishments, outdistancing them every time, it is his yam which is selected at the concluding festival, pounded and presented to all but Kongi, Obviously in the matter of harvest Daodu and his yams are separated from Kongi and hiS human head by the outer space between life and death.However, Daodu at one p oint in the play announces a platform of resistance to Kongi which is predicated upon very nearly universal hatred and, to follow the metaphor, human heads. Segi opposes his position pleading for a loving approach to ones fellow men, but, like so much in the play, the point of this chat remains obscure. One is left to speculate whether Segi here asserts her basic domination of Daodu, or whether Daodu is to be viewed as the developing character who grows out of his hatred, or whether it is all a horrible joke. Segis words of love sullied by her profession.At any rate Daodus program of hatred seems clearly opposed to his compassionate yam growing, and we neer see him do anything which resolves the issue. Segi may also be placed in opposition to Kongi, but if it is difficult to determine Daodus and Danlolas positions, with Segi the problem is hopeless. Primarily this is true because we see her do even less, than Daodu. She never acts unambiguously in such a way as to disprove the o bdurate story that she destroys men. Her relation with Daodu is so undefined as to shed little light on this matter.For much of the play she maintains silence, which she breaks most noticeably with her passionate ingathering for universal love. Here, her destructive tendencies seem open to question. Her other major action, completely at odds with her profession of universal love, concludes the play. Facing Kongi directly, she presents him with the decapitated head of her father. As staged, the confrontation is symbolic with a capital S , in view of the obvious sexual overtones of the harvest festival, one immediately guesss that Kongis particular harvest results from cultivating the Likes of Segi, that if one resorts to her one can only get abominations.Here again Soyinka may have led us astray. If Segi is a champion in the toss battle between the sexesengaged in the good fight Soyinka his portrayed in The Lion and the Jeweldestroying men as rumor reports he does, Soyinka has car ried us a long way from African nationalism in that final scene. For in that case, Kongi, and also Danlola and Daodu are mere tools in a perverse birth rate rite, and the trouble with Africa lies not in its dictators, but in its whores. In view of the series of major interpretive alternatives suggested above, one is forced to conclude that Kongis Harvest is, to the outsider an incoherent sprawl.Alternative, and mutually exclusive interpretations are not artistic ambiguity, Soyinka sets us on a number of scents, which pursued, lead in no bingle direction. We are led into every briar patch in the area, along widely divergent andmutually exclusive paths, and end by running in very small, perplexed circles. Against such a view of the play two objections efficiency be raised. First, some of the suggestions about the meaning of various actions might be termed over-ingenious.Such an objection must be at least partially granted yet, Soyinka himself must bear partial responsibility for thi s critics over-zealous application, Soyinka has the true dramatists gift of making actions seem significant. His imaginative use of action and language effectively commands the audience look here, this is important, and you should watch carefully. When a comparability of two characters is underlined try considerable discussion of the comparison, when a dumb character finally speaks, when a passive character finally acts, we cannot choose but suspect the situation is important.Perhaps Soyinka is too good at gelling, our attention, with the result that we are fascinated by the non-essential as well as the essential. On the other hand, it might be objected that a man as unfamiliar with African politics and culture as this reviewer cannot form a proper opinion of such a play. This too is a formidable objection. Still, drama is a public form of art, if it is anything, and an artist like Soyinka should decide whether he wants to reach anything larger than a purely Nigerian or African publ ic.It would seem that an artist tries to order parochial events in such a way that they have more than a parochial significance in presenting the uninitiated a dramatic experience with African politics Soyinka only confuses, and one can only suspect that he is confused himself. The matter of Right and Left Ears of State exemplifies the outsiders difficulties very nicely. Those two remarkably named characters are introduced, as the henchmen of Kongis Organizing Secretary. They are a grand sight gagthe conception funny enough to demand our attention, and we expect that they will do something amusing.Instead, they disappear mutely into the backroom of Segis Night Club, never to re-appear. We later learn that they have been killed in retribution for Kongis politics. Their memory lingers on, however we cant really believe that we have lost them so early moreover, various characters employ ear phrases which recall their names to us. As a result, when in the last scene, the head is present ed to Kongi, we, without Soyinkas stage note stating whose head it is, recall, even if only for a brief moment, our old friends the Ears.Our attention, in other words is at least partially distracted at this important point by the strong expectation that the Ears will prove interesting. Soyinka must reckon with the fact that he can arouse our interest, and in nonessential matters, handle that endowment fund carefully. It is a great disappointment to realize finally that, in the interests of coherence and clarity, many fascinating dramatic touches in Kongis Harvestshould, like the Ears of State, be more fully developed, carefully subordinated, or lopped off.Conclusion The end of the play leaves no hope in us for the purging of such societies. The struggle by Daoudu and others to get well Kongis destruction is doomed. This futility of action is first hinted in the proverbs from Hemlock . Even Daodu and Segi who are the only ones courageous enough to openly condemn Kongis rule, are i n the end victims of the predicted general clampdown indicated by the iron grating that clamps on the ground at the end of the play.