The Role of the Gods in Homers The Iliad Essay -- Iliad essays

The Role of the Gods in Homers The Iliad We everlasting gods....Ah what chilling blows we suffer-thanks to our own conflicting wills-whenever we show these individual men some kindness. This exert clearly states what kind of authority Homer has bestowed on his Gods. John Porter said, their constant interference in the lives of the mortals, which seems to cast them in the role of malicious puppeteers, while reducing Homers heroes to mere pawns in a selfish and often rather petty divine game of one-upmanship. I establish it to be quite disturbing imagining these characters fighting in such a mercilous war, giving every ounce of strength they had, and in an instance, all of their efforts could be derailed by a God or Goddess. You almost have to wonder if these heroes really have any control whatsoever, or if they argon there for the pure fun of others. Porter also mentions the morality of the Gods. He points out that the gods display many of the same values that we criticize the hero es of having. They are as jealous of their honors (time) as are Agamemnon and Achilles i...

Charlotte Bronte Critiques Victorian Culture in Jane Eyre Essay

Nothing is so painful to the human mind as a great and fulminant change. Mary Shelley, in addition to the direct interpretation, suggests with this declaration that not only be humans resistant to and resentful of change, but so too are the societies in which they live, especially when the social order is directly challenged. This natural tendency causes change to occur slowly in societies after years of different radicals thrust for transformation. Their critiques, especially in the beginning, are received with scorn and contempt. It takes a unique voice to covertly instill some of the contentious messages in the mind of the public public. Charlotte Bront, through her telling Janes life story, conveys controversial concepts about Victorian Society in an acceptable way. She illustrates her scorn for the rigid class structure, her disillusionment with pricey religious ideals, and her belief that women deserve more rights than what they are allocated in her society. Bront al so contends that Victorian values of money and superficial beauty over love and fatality rate are innately incorrect. She is able to disparage her societys values because of her subtle style of stressing her own ideals.In the Victorian era, social mobility was rarely realizable and those belonging to inferior classes were not valued. Bront makes Jane an advocate for the acceptance of other classes and of social mobility by giving Jane an ambiguous social standing. She comes from a good family, is well-educated, yet for close to of the novel she is a poor orphan. She acts subserviently towards Rochester and St. John, yet will not blindly follow their wishes or fold to their commands she will only obey Rochester in all that is right. This, along wit... ...als reasons for womens equality and for why she believes love and morality should be valued over superficial Victorian values of beauty, wealth and social status. Bront truly makes her critiques of Victorian culture effective by covertly integrating them into her novel through her female protagonist, Jane.Works CitedBossche, Chris R. Vanden. What did Jane Eyre do? Ideology, agency, class and the novel. yarn 13.1 (2005) 46+. Literature Resource Center. Web. 16 Mar. 2014.Bront, Charlotte, and Arthur Zeiger. Jane Eyre. New York New American Library, 1982. Print.Kaplan, Carla. Girl Talk Jane Eyre and the Romance of Womens Narration. Novel A Forum on fictionalization 30.1 (Fall 1996) 5-31. Rpt. in Nineteenth-Century Literature Criticism. Ed. Kathy D. Darrow. Vol. 217. Detroit Gale, 2010. Literature Resource Center. Web. 16 Mar. 2014.

Murder in the Bible Essay -- Murder Violence Bible Crime Christianity

Murder in the BibleThe act of murder is rampant in the Bible. In much of the Bible, particularly the Old Testament, there are laws that command that people be killed for absurd reasons such as working on the Sabbath, being gay, cursing your parents, or non being a virgin on your wedding night. In addition to these crazy and immoral laws, there are plenty of examples of Gods irrationality by his localise killing of many people for reasons that defy any rational explanation such as killing children who make fun of bald people, and the killing of a man who tried to keep the ark of God from falling during transport. There are also countless examples of mass murders commanded by God, including the murder of women, infants, and children.The following passages are a very small percentage of the total passages approving of murder in the Bible. They are divided here into three parts 1) Capital Punishment Crimes, 2) Gods Murders for yokel-like Reasons, 3) Murdering Children, and 4) Miscell aneous Murders. This list is long, but it barely scratches the surface of all the murders approved of in the Bible.1) Capital Punishment CrimesKill People Who Dont Listen to PriestsAny unmatchable arrogant bounteous to reject the verdict of the judge or of the priest who represents the LORD your God must(prenominal) be put to death. Such evil must be purged from Israel. (Deuteronomy 1712 NLT)Kill Witches You should not let a sorceress live. (Exodus 2217 NAB)Kill HomosexualsIf a man lies with a male as with a women, both(prenominal)(prenominal) of them shall be put to death for their abominable deed they have forfeited their lives. (Leviticus 2013 NAB)Kill FortunetellersA man or a womanhood who acts as a medium or fortuneteller shall be put to death by stoning they have no one but themselves to blasted for their death. (Leviticus 2027 NAB)Death for Hitting DadWhoever strikes his father or mother shall be put to death. (Exodus 2115 NAB)Death for Cursing Parents1) If one curses h is father or mother, his lamp will go out at the coming of darkness. (Proverbs 2020 NAB)2) All who curse their father or mother must be put to death. They are guilty of a capital offense. (Leviticus 209 NLT)Death for AdulteryIf a man commits adultery with another mans wife, both the man and the woman must be put to death. (Leviticus 2010 NLT)... ...f Baal. Dont let a single one escape So the people seized them all, and Elijah took them experience to the Kishon Valley and killed them there. (1 Kings 1836-40 NLT)Kill All of BabylonGo up, my warriors, against the land of Merathaim and against the people of Pekod. Yes, march against Babylon, the land of rebels, a land that I will judge Pursue, kill, and tout ensemble destroy them, as I have commanded you, says the LORD. Let the battle cry be heard in the land, a shout of great destruction. (Jeremiah 5021-22 NLT)Micah Kills a Whole Town Then, with Micahs idols and his priest, the men of Dan came to the town of Laish, whose people were peaceful and secure. They attacked and killed all the people and burned the town to the ground. There was no one to cede the residents of the town, for they lived a great distance from Sidon and had no allies nearby. This happened in the valley near Beth-rehob.Then the people of the tribe of Dan rebuilt the town and lived there. They renamed the town Dan after their ancestor, Israels son, but it had before been called Laish. (Judges 1827-29 NLT) (Note that God approves of this slaughter in verse 6.)

Free Admissions Essay - Care for an Ethnically Diverse Population :: Medicine College Admissions Essays

Admissions Essay - Care for an Ethnically Diverse Population   Crayfish tails in tarragon butter, galantine of rabbit with foie gras, oxtail in red wine, and apple tartelletes. The patient had this rich meal and complained of liver upset (crise de foie). Why a liver ache? I always associate indigestion with a stomach ache. In studying French culture in my Evolutionary Psychology class, I learned that when experiencing discomfort after(prenominal) a rich meal, the French assume their liver is the culprit. Understanding and dealing with the minor - sometimes major - cultural differences is a necessity in our wither world and diverse American society. Anthropology has prepared me to legally communicate with an ethnically diverse population. My science classes, research, and clinical experience have prepared me to meet the demands of medical school.   I first became cognisant of the valuable service that physicians provide when I observed my father, a surgeon, workin g in his office. I gained practical experience assisting him and his ply perform various procedures in his out-patient center. This exposure increased my admiration for the restorative, technological, and artistic aspects of surgery. I also saw that the application of medical knowledge was most effective when combined with compassion and empathy from the health care provider.   While admiring my fathers role as a head and neck surgeon helping people after yucky accidents, I also found a way to help those suffering from debilitating ailments. Working as a certified strong-arm trainer, I became aware of the powerful recuperative effects of exercise. I was able to apply this knowledge in the case of Sharon, a forty-three-year-old client suffering from lupus. she reported a two hundred% increase in her strength tests after I trained her. This meant she could once again perform simple tasks like carrying groceries into her house. Unfortunately, this glimpse of improvement was fol lowed by a further deterioration in her condition. On one occasion, she broke down and cried about her declining health and growing fears. It was then that I learned no physical prowess or application of kinesiology would alleviate her pain. I helped reduce her anxiety with a comforting embrace. Compassion and understanding were the only remedies available, temporary though they were.   To sanction that medicine is the best way for me to help others, I assisted a research team in the Emergency Room at University Medical center of attention (UMC).

Childhood Contradictions :: Free Essays Online

Childhood Contradictions 1. Memories from my childhood are scarce and cloudy at best. Everything is distorted and it always seems like everyone is bigger than you, in more(prenominal) ways than one. From what I do remember, a major player in my development as a child was the overwhelming feeling of confusion. More generation than not, I was confused by at least one of many things (authority, my own identity, physical, mental and emotional changes, etc). A childs confusion is due to the massive serial of contradictions that is childhood itself. In Lewis Carrolls novels Alice in Wonderland and Through the Looking codswallop , the meaning of childhood and what it is to be a child and liter every last(predicate)y live in a childs world takes on an entirely different meaning than ever before. Similarly, the computer game based on the novels, American McGees Alice , gives an interesting perspective on the ideal of childhood and the struggle to maturity. 2. The slew of contradi ctions in both of Lewis novels is something that cannot be ignored, even by the most rudimentary of readers. The entire concept of the novels themselves is providing text which, in all honesty, seems to be complete nonsense and providing that nonsense with sense . This theory of sense from nonsense is clearly developed in Chapter 2 of Through the Looking Glass . In this chapter, titled The Garden of Live Flowers, Alice remarks to the flowers, Arent you sometimes frightened at being planted out here, with nobody to take care of you? (Gray 121). In answer to this remark, the Rose points out that theres the maneuver in the middle (Gray 122) as if that is supposed to give any sort of rational explanation for their feeling of security. When Alice asks what sort of testimonial a tree could provide, the Rose tells her that if any danger comes along the tree can bark. Now, this is an entirely ridiculous concept to begin with. The idea of inanimate objects having the cogency to produce s ound is complete nonsense to any rational person. However, the flowers give the trees ability to bark and their ability to talk seemingly rational explanations. According to the Daisy, the tree says Bough-Wough Thats why branches are called boughs (Gray 122). In response to the question about the flowers proficiency at language, the Rose tells Alice that in most gardens, they make the beds too soft - so that the flowers are always asleep (Gray 122) and their flower bed is noticeably hard by comparison.

Childhood Contradictions :: Free Essays Online

Childhood Contradictions 1. Memories from my childhood are scarce and cloudy at best. Everything is distorted and it always seems like everyone is bigger than you, in more ways than one. From what I do remember, a major player in my development as a child was the overwhelming feeling of confusion. More clock than not, I was confused by at least one of many things (authority, my own identity, physical, mental and emotional changes, etc). A childs confusion is due to the massive serial of contradictions that is childhood itself. In Lewis Carrolls novels Alice in Wonderland and Through the Looking applesauce , the meaning of childhood and what it is to be a child and liter all(prenominal)y live in a childs world takes on an entirely different meaning than ever before. Similarly, the computer game based on the novels, American McGees Alice , gives an interesting perspective on the fancy of childhood and the struggle to maturity. 2. The slew of contradictions in both of Lewis novels is something that cannot be ignored, even by the most rudimentary of readers. The entire concept of the novels themselves is providing text which, in all honesty, seems to be complete nonsense and providing that nonsense with sense . This theory of sense from nonsense is clearly developed in Chapter 2 of Through the Looking Glass . In this chapter, titled The Garden of Live Flowers, Alice remarks to the flowers, Arent you sometimes frightened at being planted out here, with nobody to take care of you? (Gray 121). In result to this remark, the Rose points out that theres the steer in the middle (Gray 122) as if that is supposed to give any sort of rational explanation for their feeling of security. When Alice asks what sort of surety a tree could provide, the Rose tells her that if any danger comes along the tree can bark. Now, this is an entirely ridiculous concept to begin with. The idea of inanimate objects having the efficacy to produce sound is complete nonsense to a ny rational person. However, the flowers give the trees ability to bark and their ability to talk seemingly rational explanations. According to the Daisy, the tree says Bough-Wough Thats why branches are called boughs (Gray 122). In response to the question about the flowers proficiency at language, the Rose tells Alice that in most gardens, they make the beds too soft - so that the flowers are always asleep (Gray 122) and their flower bed is noticeably hard by comparison.

Court System Structure

The state mash schema and the federal court system have confusable codes of conduct, but they do have their differences. The state court system hears way more cases than the federal courts, and get more personally involved due to the issues universe right in their own backyard. The state of atomic number 20 has 58 superior courts (trial courts) which reside in each of the 58 counties. It is here where any, and all, issues pertaining to civil and criminal cases, as well as family, probate, and juvenile cases are heard.This is where the bulk of Californias judiciary justice is served. If a case is appealed it is taken up the ladder to wholeness of Californias six Courts of Appeal. According to courtinfo. ca. gov (2011), The State legislature divided the state geographically into six appellate districts, each containing a Court of Appeal. (About California Courts, para. 2).The Supreme Court of California sits at the apex of authority in the states judicial system (courtinfo. a. g ov, 2011). Cases that have been questioned in the Court of Appeal must be reviewed by the Supreme Court, as well as any case in which a trial court has issued the death penalty. The federal court system has a similar structure to the state court system. The lowest level is the federal district court. The district court hears the civil and criminal cases that pertain to the potentiality unconstitutionality or impartiality of a specific state court.Federal accusations of fraud and drug crimes can also be seen here. The next level, similar to the state court system, is the U. S. Court of Appeals. This is the intermediary appellate court level where cases that have been appealed are reviewed. Atop this is the United States Supreme Court, the highest form of authority in the country. It is here where a couple of(prenominal) cases are officially sent to trial, but instead cases may be reviewed by one or a group of the justices and sent back cut back the line.

From Freedom Of Contract

The modern entrant making process Is often a set of really complex agreements and usually Involves big amounts of money. The negotiations may last for months or even days. As a result, the parties will reach an agreement by piecemeal. There Is not a simple offer and an acceptance anymore, but on that point argon offers, counteroffers, partial controvertion. But when exactly the discussion is ended? For this thus far developing produce formation procedure, in most legal systems there are no special and adequate rules established. Since it is impossible to qualify in these cases offer and acceptance, a substantial set of new problems arises . As the agreement been concluded 2. When was it concluded 3. If the agreement is concluded, what are the terms of it. In this paper I will examine and discuss a precise controversial paper in the theory of the formation of lets the relationship between parties in a situation in which an agreement has not been reached and one of the partie s breaks off the negotiations. This nominate be done in several ways one 2 can Just end the negotiations and walk away, the offered can revoke his offer, an option article is violated etc.Since there is still no contractual financial obligation in these cases, he question arises if there is any liability at all and if so according to what theory a party is held liable. I will analyses this problem from the point of view of two legal families commonalty integrity and Civil faithfulness. In the context of this paper by Civil Law I mean the codified law systems in Western atomic number 63 and I will discuss French, German and Dutch law. We will see that there are important differences between the Common Law and the Civil Law approach to these problems.As a result of the still growing trade market between the United States and Western Europe it is of utmost importance that one is sensitive of these differences. I want to discuss three topics 1 . Cross-boundary pre-contractual nego tiations will bring together law and floriculture and reality and perception and so many involved situations I will give you Just some examples to show what I mean 2. Then I will discuss the different approaches as mentioned supra and even more important the different results on what is understand as pre-contractual liability 3. He last topic will be on late European developments in contract law in this field as realized in a proposed European Code of Contract Law. 2. Law and culture As I said before, pre-contractual negotiations will not only bring together law and ultra but also reality and perception. So it is instead possible that one party from his particular background and legal culture is convinced that after some meetings an agreement is reached, as the opposite party thinks these were still preliminary conversations. When this is the case severe problems will rise and immediately two questions have to be answered 1 . According to which law the breaking off of the nego tiations has to be Judged 2. And which court has standing. In Common Law countries, as a rule lawyers will take part in the conversation in a very early stage of the negotiations. s true for The Netherlands you from the start of the 3 it is all a matter of trust. If you take your lawyers with negotiations it means you dont trust the other party so they dont trust you. The result is that you start the negotiations one step behind the other party and that is exactly not what you want.Probably this is also because English and American contracts are a good deal longer than German, French or Dutch contracts. 1 Just one example contrast these two standard forms of a forum selection clause American clause The exclusive forum for the resolution of any dispute under or rising out of this agreement shall be the courts of general legal power of xx and both parties submit to the Jurisdiction of such courts. The parties waive all objections based on forum non convenience German clause Choline sterase Geriatricians sit xx (the only competent court is (P. 96) So when you enter into international contracting your first lessons are 1 . Be aware of the cultural differences and legal prospect between you and the other party 2. Try to reach an agreement on two questions as early in the negotiations as possible a. Which law has to be applied in case anything goes wrong (express choice of law) b. Which court has standing. A way to realize an answer to these questions in the pre-contractual stage is the use of a so called Letter of Intend or a Memorandum of Agreement.In case anything goes wrong, such a Letter or Memorandum can save a propagate of time and money for both parties. According to American case law the answer of the question if the Letter or Memorandum is legally binding depends on the following factors The amount of details The language used Are there any escape-clauses Are there subject to formal contract/definitive agreement clauses show for a comparison betw een American and German contracts Claire A. Hill and Christopher King, How do German contracts do as much with fewer words? , 79 Chicago-Kent Law Review 2004, p. 889 926. Complexity of the transaction The way parties behave in the pre-contractual stage Custom. In Civil law similar factors are used. For about seven years I was honorary Judge in the Court of Rotterdam in a division on international contracts. In a surprisingly amount of cases where contracts were truly formed there was no provision on an express choice of law and on which court has standing. Making a choice on forehand shot will save time and money and the allowing factors can be taken into account. In the first place parties create certainty both parties know what to await in case anything goes wrong.I will take the English approach as a starting point, because this approach still resembles the classical theory on contract law. (Gigglier 2002, Cheshire and Foot 2001, Allen 1991) In the case William Lacey (Win slow) Ltd. V. Davis 1957 1 W. L. R. 932, 934 (Q. B. 1957) the view is expressed that a party to negotiations undertakes this work as a gamble, and its cost is part of the overhead expense of his business which he hopes will be met out of the profits of such contracts as are made. More recently the leading case on this topic is Wallboard v.Miles 1992 1 All ERE 453. The question was if the parties can, by agreement, impose on themselves a duty to negotiate in good faith. Lord Cancer held to each one party to the negotiations is entitled to pursue his (or her) own interest, so long as he avoids making misrepresentations. To advance that interest he must be entitled, if he thinks it appropriate, to threaten to withdraw from further negotiation or to withdraw in fact in the hope that the opposite party may seek to reopen negotiations by offering him improved terms.A duty to negotiate in good faith is as unworkable in practice as it is inherently dissonant with the position of the nego tiating party. In spite of this rather rigid and formalistic view English law has taken on this question, there are some grounds to pursue negotiations or to recover damages in case of breaking off the negotiations. 6 Although the main contract has not been concluded, the court may held that there is a collateral contract which gives rise to some rights during the negotiating process.And even though there is no contract, a party may be entitled to yield relief on the grounds that the other party has derived a benefit from the transaction for which he should compensate the plaintiff even if no contract has arisen (unjust enrichment). ultimately a party can be held liable for loss which he inflicted on the other party in case of fraudulent misrepresentation (a assume in tort, e. G. When there was never an intention to form a contract) or negligent misrepresentation. In England one can only claim negative interests.Specific functioning that is to say forcing parties to re-open ne gotiations is not possible. 3. 1. 2 AMERICAN LAW (Tanner and Hamilton, paper 2004, Track 1991) Like in English contract theory, it is generally agreed that also in the United States the existence of a duty in good faith is denied in the absence of an enforceable contract. According to American law there are three other grounds for pre-contractual liability. As in England, unjust enrichment as a basis for liability could be a ground for restitution.However, Just a few courts have entertained such claims and the prevailing view is still the alternator theory both benefit and loss are at risk of the parties. in addition the misrepresentation theory is considered to be a ground for recovering losses in the preoccupation stage in the United States, but situations in which this occurs American courts is the doctrine of promissory estoppels one negotiating party cannot thou liability breach a promise made during negotiations, if the other party relied on that promise.

Aplaying for a job

As a secondly point, would you mind telling me hat sort of Jobs I am applying for, why the employers there should select me for an interview?Does the endeavor happen to know where the Job itemization for Florida Is?. Although, Would I like you help me with my accommodation and give me some information where I can find a good place with a reasonable price, How much pass on It be cost?. Shall I ask them to send me the link or pictures of the apartment to revue or thats too much to ask for? I also wonder If you could tell me the cost of fight will be Included In the bill. A final and very Important point Is what shall I do tog my ark permit? Loud you possibly sent the completely Information with all of the extremity about It. It Is my goal to combine my range of experience which I have gotten In different sort of Jobs with my ability to be an enthusiastic, Intelligent student who will make a positive contribution to your agency. I would welcome an Interview and bank to hear from y ou at your earnest convenience. Best Regards Marilyn Gonzalez. Playing for a parentage By Mattress -r +8683701245 Firstly, I am interested in applying for a students Jobs in the USA that you have interview?Does the enterprise happen to know where the Job listing for Florida is?. Or thats too much to ask for? I also wonder if you could tell me the cost of fight will be included in the bill. A final and very important point is what shall I do to get my work permit? Could you possibly sent the completely information with all of the fatality about it. It is my goal to combine my range of experience which I have gotten in different sort of Jobs with my ability to be an enthusiastic, intelligent interview and hope to hear from you at your earliest convenience.

Cooking Rice and Peas Jamaican Style

Many people identify Jamaica with beautiful white sand beaches with clear blue waters. Jamaica offers more than unspoiled nature, given its motto Out of many one people, one bequeath find a mixture of ethnicities and more which have impacted on some of the traditional dishes we instantly prep argon today. One such traditional dish is rice and peas, which has become famous as one of our Sunday Jamai give the gate dishes. Rice and peas is prepared employ a combination of rice and peas.This dish provides a good source of complex carbohydrates and a healthy balance of proteins the addition of herbs such as sweet pepper seeds, fresh thyme and scallion gives this dish a wonderful aroma and an unusual kick to the olfactory glands. This dish is usually served with meat, poultry or fish, as the rice and peas counteracts the spiciness of the main meat dish. Preparing this dish is not as complicated as one may think, and if one takes a chance to try it, thus one might just find themselve s loving it.The four major steps that are involved in the making of this dish are the meeting of the ingredients, the preparation of the peas, the extraction of the coconut draw and the cooking process. First, you will need to gather all the needed ingredients to collide with the rice and peas. The appetizing set of ingredients life-sustaining for this dish are red kidney beans, rice, garlic, green scotched bonnet pepper, escallion, thyme, salt to taste and coconut milk or a coconut.Please remember that the coconut milk and the herbs used are very essential for the taste of this dish and it will make the difference from the other types of rice dishes that you might have had before. Several pieces of equipment are also necessary medium-sized bowl, measuring cup, fork and spoon and a quite a little. Having obtained all of the specified ingredients and equipment, the next step is the preparation of the peas or beans and the dry coconut. Many types of beans can be used such as red kidney beans, pigeon peas, gungo peas and black- philiad beans and cowpeas.If fresh peas are being used then these have to be washed and boiled for 45 (45) minutes or more until tender. If dried beans are used, soaking them overnight in plenty of cold garlic water is recommended. After that rinse and bolt the soaked beans and boil in fresh salted water until tender. The peas can be tested to see if they are cooked by messing them against the lid of the pot. If they crush easily, then you are ready to move on to the next step. The next step is the extraction of the coconut milk.Using a metal skewer the softest eye of the coconut must be pierced to drain the liquid into a bowl. With a hammer or the back of a heavy machete happen shell and with the point of a sturdy knife pry the meat out of the shell in chunks doing so carefully. Grate coconut on slender tear drop shaped holes of a four sided grater or finely chop in a food processor or a blender. To make the coconut milk, water should be added to the grated coconut pulp and be left in the bowl for about five (5) minutes.Using a fine silver screen or cloth pressed in the hand to extract the liquid and keep out the coconut pulp. It is important to note that once the liquid is extracted thermal water can once again be poured on the same coconut flesh to make another extract. You are now ready to acquire cooking. The previous step is very important because the coconut milk helps to add the unique flavour to this traditional meal. The extracted coconut milk along with garlic is added to the pot in which the peas and water have been simmering.When the peas are fully cooked, salt, uncut scotch bonnet pepper, thyme and escallion are added to the pot. The aroma from the herbs makes their presence known and there will be a strong sinus healing smell that will tickle the inside of your nose. After all the ingredients have been cooking together for a sequence or more importantly when the peas are fully tender and deemed to be cooked, the washed rice is then added to pot. A fork or wooden spoon can be used to combine everything.It is recommended that this dish be prepared on a low fire until done. If all the steps above are followed, one can say that they have now mastered the art of cooking Jamaican rice and peas from scratch using a combination of staple fibre ingredients found in Jamaica. The processing time is approximately two (2 hours or more. Im quite sure that given the tastiness of this dish it will be eaten in less time than that. Please follow all the suggested steps and include all the listed necessary ingredients and you will see or sooner taste the end result.

Fpi Assignment Essay

Summary The report is regarding to the knowledge of analyzing the accounting data of a listed alliance, using the various accounting information that provided to identify and examine the competitiveness and cleverness of the listed company. Besides, in order to examine the reliability of the data provided, analysis of the balance sheet and income statement is required. The fiscal information rat be obtained from the annual reports of Harbour-Link convention Berhad.In addition, the report is required to include the top-down approach which consists of stinting analysis, industriousness analysis and Fundamental analysis to analyze the listed company in the signify of view for investors. Table of Content 1. Introduction 1. Objectives 2. Analysis of the statement of fiscal position, the statement of financial act and cash flow statement. 1. Financial Analysis dimension Asset efficiency proportionality capital letter Structure proportion Liquidity Ratio Profitability Ratio Shargo n Price 3. Economic Analysis 4. Industry Analysis . Conclusion 6. Findings 7. References Introduction In this report, Harbour-Link conclave Berhad is chosen among the listed companies. Harbour-Link aggroup Berhad is an investment holding company which provides shipping, send on and transportation, plant and machinery hiring, and engineering contract function primarily in Malaysia and Singapore. Harbour-Link Group Berhad was founded in the course of 1975 and it is based in Bintulu, Sarawak, Malaysia. It was offici onlyy listed on Bursa Malaysia Securities Berhad in the division of 2004.Today, Harbour-Link Groups success lies in its strong foundation of expertise in the industry and its ability to established the company as a repu table brand-name within the shipping, sea freight forwarding and transportation industries. Objectives 1. To identify the sources of funds, Balance Sheet and profit or loss of the Harbour-Link Group Berhad. 2. To analyze accounting data of Harbour-Link Group Berhad to examine its financial performance using Financial Performance Indicators (ratio analysis) 3.To analyze the economy status, competitors within the same industries and evaluate the operating efficiencies of the listed company. 4. To examine the competitiveness and efficiency of the listed company by using the various accounting information provided. Financial Analysis Financial analysis ratios ar used to examine the financial performance of a company in which it will be reflected in the ratios calculated. (Giles et al, 1994, p. 371) Asset efficiency Ratios Asset employee turnover ratio From the data calculated, the asset turnover ratio for the financial year of 2008, 2009 and 2010 atomic add up 18 109. 9%, 92. 12% and 79. 65%. This indicates that the Harbour-Link Group Berhad is not doing well in the sales of the products or services because the asset turnover ratio is change magnitude from year to year. Debtor turnover (in days) Debtor turnover is the debtor col lection period of a company. Harbour-Link Group Berhad had a debtor turnover of 73 days in the year of 2008. In the year of 2009, the debtor turnover is 77 days. However, its debtor turnover is decreased to 71 days. This reflects that the possibility of negligence risk for the debtors is decreasing.In fact, this is a good thing in a company. Inventory Turnover Inventory turnover measures how many times the company can sell through its stock-taking for each year. In the year of 2008, Harbour-Link Group has an inventory turnover of 163 times. The turnover attachd to 212 times in the financial year of 2009 but the inventory turnover decreased to 127 times in the year of 2010. This reflects that the company can sell better in the year of 2009 but it dropped tremendously in the year of 2010. Capital structure Ratio Debt to fair-mindedness ratioThe debt to equity ratio of Harbour-link Group Berhad is decreasing from the year of 2008 to 2010 by 2%. This is caused by the reducing of tot al liabilities and the change magnitude of the total equity. Time interest earned The times-interest-earned ratio admits a lender to evaluate the companys ability to meet its debt obligation. It is a ratio of the earning originally interest and tax over the interest expenses. The time interest earned has a slightly increased from the year of 2008 to year 2009 but it has a great decrease in ratio amount from the year of 2009 to year 2010.This means that in the year of 2010, Harbour-Link Group Berhad have lesser earnings ar uncommitted to meet the interest payments and this makes the company to be more vulnerable to the increases in the interest rates. Liquidity Ratios Liquidity ratio is the ratio that is used to examine the liquid state of a company. It includes Current Ratio Current ratio is the ratio of period assets to current liabilities. Harbour-link Group Berhad has it current ratio decreasing from the year of 2008 to 2010. Its current ratios are 1. 90, 1. 76 and 1. 57 respectively. The ratio is decreased by 14% and 19%.The data is calculated as shown in the findings. Liquid Ratio Liquid ratio is the ratio of (current assets-inventory) to (current liabilities-bank overdraft). Harbour-Link Group Berhad has acquires so there is bank overdraft existed and thats why it is classifies as a debt financing organization. The company has a heightser liquid ratio of 2. 34 in the year of 2010 compared to the year of 2008 and 2009 which is 1. 88 and 1. 75 respectively. The liquid ratio of the 3 financial years exceeded 1 and this indicates that the current assets are great than the current liabilities.Higher liquid ratio reflects better performance of the company. Net running(a) Capital Net on the job(p) capital is the difference between current assets and the current liabilities. In the three financial years, Harbour-Link Group Berhad has the highest last(a) working capital of RM 51. 4 trillion in the year of 2008. The figure of net working capital fo r Harbour-link Group Berhad decreased in the year of 2009 and 2010 by 0. 43% and 12. 32% respectively. This shows that there is a drastic drop in the net working capital of year 2010. Profitability Ratios EBIT to total funds ratioEBIT to total funds ratio of Harbour-Link Group Berhad is decreasing in the range of 22% from the financial year of 2008 to 2009 and 21. 4% from the financial year of 2009 to 2010. The total funds consist of touchholders funds and borrowings. According to the annual report, Harbour-Link Group Berhad is practicing debt-financing to raise funds because there is borrowing existed. Return on Equity (ROE) Harbour-link Group shows a decrease in net income from year 2008 to 2010. This military post leads to the decrease in the return on equity (ROE) of 5%.In the financial year of 2010, it has the ROE of 0. 08 which indicates that for every RM1 of the capital that the pctholder invested into, they will get 8% of return. Return on Assets The return on assets meas ures the productivity of assets in hurt of the level of profits each dollar of assets generates. (Karen D. H, 2004, p. 131) The return on assets of the Harbour-Link Group Berhad is decreasing from the financial year of 2008 to 2010. It decreased from 8% of year 2008 to 7% in the year of 2009 and thence 5% in the year of 2010.This implies that the productivity of the companys assets is not doing well in terms of profits that the assets generated. Net Profit Margin The net profit margin is the ratio of net profit after tax to the total revenues. In the financial year of 2008 and 2009, Harbour-Link Group Berhad has the net profit margin figure of 8%. It indicates that the company has a net income of RM0. 08 for each RM1 of sales. However, the net profit margin for the year of 2010 decreased by 2% which is only 6% in the financial year. This shows that for every RM1 of sales made by the company in year 2010, the net income is only RM0. 6 which is RM0. 02 rase than the previous year. S hare Price Price to Earnings Ratio (P/E) Price to Earning ratio is calculated by using the share price of the year 2010 over the earnings per share. The market price of Harbour-Link Group Berhad was amounted to RM 0. 72 in the year of 2010. From the annual report of the financial year of 2010, the earning per share is RM 0. 11. By using the formulae, the price to earning per share of 2010 is calculated as shown in the table with a figure of RM 6. 825. Current Economic Analysis Roots of world(a) financial crisisGlobal financial crisis are usually caused by bad regulation of the banking sectors, failure of fiscal and monetary policy implemented and so forth. In the year of 2008, Financial crisis began with the declared of bankruptcy of Lehman Brothers Holdings Inc. which is the fourth largest investment bank in United States. It was a severe ongoing worldly concern financial enigma that began in U. S in the year of 2008. This turning point has entirely hitting on the fragile globa l economy with the tremendous devastation in countries all around the world. The U.S government activity was trying to point the finger of the financial crisis to the rating agencies, who knew about the great risk that was coming but kept endowment high reliability ratings to companies that did not deserve them and thus investors invested in the wrong companies. The cause of the bankruptcy of Lehman Brothers Holdings Inc was the accumulation of debt and the increasing of loan defaults. Why it evolved into a world crisis The news on bankruptcy of Lehman Brothers Company led to the drastic fall in the share price all over the world.The company had billions of dollars losses incurred in the mortgage market of United States. (BBC NEWS, 16th Sept 2008) In Lehman Brothers case and the other investment banks, the problem was provoked by 2 major factors which are the very high level of leverage ratio and the dependence on short-term debt financing. Commercial banks cannot leverage their e quity more than 15 to 1 as they are regulated but for Lehman Brothers Company, it had a leverage ratio of more than 30 to 1. According to the table 1, Lehman Brothers had only $3. 30 of equity for every $ nose candy of loans. With this ratio, it makes the company to be insolvent.Conversely, the instability arose from the leverage problem was aggravated by the strong reliance on the short term debt. Based on table 1(Lehman Brothers Liabilities and shareholders equity), at the beginning of the crisis, the company financed greater than 50% of the assets. Reliance on short term debt financing is profitable indeed when it comes to a low interest rate market environs. However, when the company faced rumors of the insolvency problem, the short term lenders will start to have doubt on the companys performance and so, they will start to withdraw their funds from the company for self interest protection.This scenario will lead to a shortage of liquidity for the borrower and thus the company tends to default. After the crisis began, Lehman Brothers did try to decrease its leverage and reduce its dependence on the short term borrowing but it was too late for them to amend the situation and therefore, bankruptcy occurred. The bankruptcy of Lehmans brother forced the reassessment of risk in the market by looking at the price of the credit default trades. Impact on Malaysia and world economies The crisis started in the year of 2008 had a great hit on Malaysia and world economies.It causes the gas price had a drastic drop, decreasing of the value of real estates, the increasing of unemployment rate, Federal debt crisis and inflation. There is a global explosion in commodities price. The price of crude oil was re master(prenominal)ing at high levels for few years till the end of 2008, the crude oil price dropped from the peak in July 2008 of US$145 to US$30. 28 per barrel in December 2008. (Forbes, 2008) According to the findings in table 2, the unemployment rate of Malaysia increased by 3. 13% from the year of 2008 to 2009 and 12. 12% from the year of 2009 to 2010.Malaysian early scotch At first, Malaysia was aiming to have 9% of average annual Growth Domestic Product (GDP) until 2020. Suddenly, according to the Economic Planning Unit, the government noted that the number is absurd then they changed and told that Malaysia was capable to achieve 5. 4% of Growth Domestic Product (GDP) annually over the next 10 years to achieve the objective of becoming a high income economy by 2020, which is the vision 2020 (East Asia Forum, 2009). These seem that Malaysias economic forthcoming is uncertainty. It keeps changing.Besides, Malaysias government has a close kind with its private businesses. Because of the relationship with some business groups have ostensibly led to the emergence of political cronies with unlimited access to public resources. Not only the relationship that mention above but also the experience of neighbouring Indonesia shows that it is a dangerous trend that could negatively affect economic development in the future. In this matter, changes in political leaders led to unstable political environment. Although it does not directly effect on Malaysia, it threatens he influx of refugees caused damage regional stability and social stability. Malaysias maritime economy can be defined as the production and manner of use of the range of goods and services that are linked to the maritime sector (Abdul Aziz Abdul Rahman, 1997). It covers the activities that are resource based, including fisheries, oil and gas, marine biotechnology and those that are service based such as shipping ports, shipbuilding and repair and the myriad range of appurtenant maritime services (Maritime Institute of Malaysia,2005).Malaysias main concern is the future of marine economy of the future of Malaysian trade, because the countrys foreign and domestic help trade, or even almost totally dependent on sea transport facilities. From this we can kn ow that it will have a very intellectual prospect in maritime economy. If Malaysia is to achieve the goals of industrialization, productivity-driven growth and enhancing competitiveness will depend on how the maritime sector is managed. The maritime sector has a main role to play in enhancing productivity-driven growth. An important element that will affect efforts to sustain inter caseistic competitiveness is productivity.But, for broad-lived term, Malaysia will need to maintain its international competitiveness, since there is rising competition from other emerging markets for Foreign Direct Investments (FDIs) and for the transfer of modern technologies. Environmental issues are also important for Malaysia in the longer term as deforestation and global climate change may destabilize the countrys agriculture, which still plays an important role in the national economy. What is the most important is the political will effect a change to system-centred thinking in planning the fu ture of the economy. So, a stable political environment is very important to Malaysia.If the political environment of Malaysia is good, it will have a bright future of economy. Solutions to the Global Financial Crisis or crises in general. Banks and financial institutions can cause a downswing of an economy because of their ignorance of the business cycle. Besides, bankers are greedy with the fat bonuses that they will gain if they get the highest market shares results. When the economy is doing well, they expect that there will be no recession problem is going to occur and therefore they will give loans to their customers without packing their customers affordability to repay the loans.Once their customers cannot afford to repay the loans, recession will occurs. To overcome these crisis problems, several steps can be used. Government and bankers often intervene to smooth the peaks and valleys of the economic cycle. There are two objectives that the government and bankers can do to prevent serious downswing of an economy. 1) Speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long term cost to the taxpayer.For example, the Federal reserve may restrict the silver supply in good times to slow the expansion phase of the economic cycle, or deficit spend and cut interest rates to ease the recessionary phase of an economic cycle. 2) Ensure so far as realizable that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place. The growth of consumer credits will increase the consumption of the consumer. The increase in the consumption will increase the aggregate demand of the country whereby AD equals to C + I + G + (X-M). Mc Taggart et al, 2007 p. 766). When the AD is increasing, it means that GDP is also increasing. This shows that the consumer credits provided will also be increased and therefore people will keep on borrowing money from the banks for consumption. This situation actually can amplify the business cycle and extend the upswing of the economy. Industry analysis The domestic and the world economy were in a downswing in the year of 2009. All the industry was affected and they are making an effort to maintain their previous performance and growth momentum. In the year of 2009, Harbour-Link Group Berhad suffered revenue declined by 5. 9% to RM 327. 6 million. The revenue decreased again by 5. 76% to RM 308. 7 million compare to the previous year out-of-pocket to lower selling prices and softer consumer demand. One of the Company competitors, Swee Joo Berhad was also suffered by achieved a turnover of RM 346. 7 million which is 9. 9% lower than the previous financial period. The lower turnover was also impacted by the recovery state for the economy. Swee Joo Berhad has a reduce in current ratio from 0. 648 to 0. 278 which seems to be lower than that of the Harbour-Link Group Be rhad and therefore Harbour-link seems to have a better current ratio.Swee Joo Berhad has a negative figure for its Earnings before interest and tax of -11. 32 million and -176. 82 million in the year of 2009 and 2010. This is a huge loss for the company. It shows that Harbour-Link has a better performance than its major competitor, Swee Joo Berhad. Although the economy showed signs of recovery, but most of the economists hold that the sustained global recovery is still vague. This situation greatly influenced the consumers spending behavior. According to the Edge, Harbour-Link Unit obtained the secured contracts of RM75. 2 to supply gantry cranes for the Bintulu Port Sdn Bhd.The contracts were expected to be done in the year of 2012 and its also expected to escalate the future revenue and earnings positively for Harbour-Link Group Berhad. (The Edge, 11 April 2011) There are several slipway for the companies to perform better during this hard period. However, the suppliers are also important causes which will affect the company performance. Although Harbour-Link Group Berhad suffered lower revenue during the year, however, it obtained quite a number of big projects with a favorable amount of contracts worth which is believed to boost the revenues for the future of the company itself.This scenario will assist Harbour-Link Group Berhad to create a stronger visibility and allow it to be well positioned for the economic recovery. Findings pic Table 1 shows Lehman Brothers Liabilities and Shareholders Equity Source Lehman Annual Reports Year Unemployment Rate Percentage Change 2006 3. 60 2007 3. 50 -2. 78% 2008 3. 20 -8. 7% 2009 3. 30 3. 13% 2010 3. 50 12. 12% Table 2 shows the unemployment rate in Malaysia Source CIA World Factbook Conclusion In conclusion, although the Harbour-Link Group Berhad has a downturn in its overall performances in the financial year of 2009 and 2010 as the results shown in the findings, but it has a better performance than its mai n competitor, Swee Joo Berhad in the shipping industries.The Harbour-Link Group Berhad is overall well organized in its financial statements as shown in the annual reports and it can be categorized as a profitable and successful listed company in Malaysia. On the perspective of investors, Harbour-link is counted as a good investment company and therefore investors are advised to consider Harbour-link Group Berhad as one of their investment company because the company has a good expectation to have a huge increase in its future economic benefits.The future economy of Malaysia is expected to have a good return and therefore this ensure that Harbour-Link Group Berhad is a wise investment for the future benefits. References Abdul Aziz Abdul Rahman, 1997, The Maritime Economy of Malaysia, Pelanduk Publication BBC News, 16 September 2008, http//news. bbc. co. uk/2/hi/business/7615931. stm Bursa Malaysia 2010- Equities, Bursa Malaysia Berhad, viewed on 26 April 2011 http//www. bursamalaysi a. com/website/bm/market_information/prices/ East Asia Forum, Malaysias Economic Future, view on 1 May 2011, http//www. eastasiaforum. org/2009/11/24/malaysias-economic-future/Encyclopedia of the Nations, Malaysia- Future Trends, viewed on 2 May 2011, http//www. nationsencyclopedia. com/economies/Asia-and-the-Pacific/Malaysia-FUTURE-TRENDS. html Forbes 2008- Crude Oil Prices 1861 2009, Forbes. com 2010, viewed on28 April 2011, http//www. forbes. com/2008/05/13/oil-prices-1861-today-real-vs-nominal_flash2. html Giles, R & Capel, J 1994, pay and accounting, 3rd Edition, MacMillan, London Harbour-Link Group Berhad 2011, harbour. com. my Total Logistics &EPCC Provider N. V 2009&2010, Harbour-Link Group Berhad, viewed on 22 April 2011, http//www. harbour. om. my/ Karen D. Halpern, 2004, Understanding Finance Money, Capital and investments, Pearson, New Jersey. Maritime Institute of Malaysia, Malaysia and Port Competitiveness, 2005 Mc Taggart et al, 2007, Macroeconomics, 5th Edition, Pe arson, Australia The Edge Financial Daily, 11 April 2011 viewed on 24 April 2011. http//www. theedgemalaysia. com/ The corpus Online 2011- Market watch, Star Publications (M) Berhad, viewed on 24 April 2011, http//biz. thestar. com. my/marketwatch/charts/l. asp? code=2062HARBOUR&p1=0. 99&p2=0. 985&p3=0. 99&p4=0. 985&p5=0. 99&p6=0&p7=0. 00&p8=915&p9=0. 532

Macbeth Literary Analysis

The Soliloquies of Macbeth Many times in a play, a character, usually alone on stage and pretending that the audience is not there, thinks tabu loud. This type of action is called a soliloquy An instance of talking to or conserving with oneself or of uttering ones thoughts aloud without addressing any soulfulness (Oxford English Dictionary).A unprecedented author, William Shakespeare, uses the soliloquy technique in his famous playwright, The Tragedy of Macbeth. In this tragedy, many of Shakespeares soliloquies target around Macbeth, revealing important aspects about himself. The first soliloquy expresses Macbeths conscience, indecision, and his fierce inner conflict (Richard 383). He is dealing with the internal conflict of pity and horror at killing the virtuous Duncan (Jorgensen 890).In this soliloquy, Shakespeare defines Macbeths agonizing imagination Besides, this Duncan/ Hath born his faculties so meek, hath been/ So clear in his great office, that his virtues/ will plead li ke angels trumpet-tongued against/ The deep damnation of his taking-off/ And pity, like a naked newborn babe,/ Striding the blast, or heavens cherubin horsed/ Upon the slightest couriers of the air,/ Shall blow the horrid deed in every eye,/ That tears shall drown the wind (Shakespeare I716-25).This best describes Macbeth as being directed into conflicts by prophesies of the three witches. Macbeth is a grief-stricken man with a wounded heart that is bleeding for someone else. The sustain soliloquy is found in the beginning of Act II, where Macbeth is seen alone with a dagger in his hand. Macbeth is giving into evil and the terror in his soul and his inability to recover his lost innocence (Richard 383) is revealed. He lets the illusion of the dagger affect him greatly by talking about satanic images of witchcraft.Shakespeare verbalizes the evil spirits as he goes on to write witchcraft celebrates/ Pale Hecates offerings, and withered murder,/ Alarmed by his sentinel, the wolf,/ Wh ose howls his watch, thus with his stealthy pace,/ With Tarquins ravish strides, towards his design/ Moves like a ghost (Shakespeare II251-56). Mabillard sums up the quoted soliloquy by documenting Hecate, the goddess of witchcraft and a strong presence in Macbeth, is preparing her acrificial victims, and slaying himself, called by his trustful watchman, the wolf, moves with the power and speed of evil king Tarquin near his prey (Mabillard). The witchery turns Macbeth into an evil murderer. Lastly, there is another one of Shakespeares soliloquies that describes Macbeth. Jorgensen explains what is occurrence pertaining to this soliloquy Macbeth becomes king. But the settled is deeply ironic, for he will be more driven in restless ecstasy to seek final guarantor (Jorgensen 891).This meditative kind of speech can be found in the beginning of Act III, where Macbeth specifies his own great loss For Banquos depicted object have I filed any mind/ For them the gracious Duncan have I murd ered/ Put rancors in the vessel of my own peace/ Only for them, and exploit eternal jewel/ Given to the common enemy of man,/ To make them kings, the seeds of Banquo kings (Shakespeare III165-70). The killings lead Macbeth into being accommodated to his murderous career (Richard 383).Richard Sime also states that This suffering Macbeth is experiencing describes the person Macbeth has become (Richard 383). At this point, the evil in Macbeth has definitely outweighed the good. Without Shakespeares choice of technique, the audience will not fully understand what Macbeth does to become who he is. The endorser can see how Macbeths character changes throughout the period of time by seeing and hearing the feelings revealed by the use of soliloquies. Therefore, in Macbeth, the inner unearthly catastrophe parallels the outer physical catastrophe (Richard 383).

Final Gay Marriage Essay

Gay marriage should be legal because as woman and man, all individuals encounter the same amend in society because same-sex couples cannister constitute a good based family because it is just a way to make official a common union nowadays, even with the religious start because it is not related to polygamy and because love matters and it does not differ in nature according to the sex of its object or the person who experiences it. The head start reason wherefore same sex marriage should be legal is because it is fair for all individuals to have the same rights in society.With the end of sodomy laws, a recent purpose of the U.S. Supreme Court, conservatives have lost their last excuse to write off gay lives and love as unworthy of social accommodation. solely whatever ones musical note approximately the reasoning of the decision, its results is clear gay Americans are no longer criminals. Even if they were, as murderers on death row that have the constitutional right to marr iage, they should have too. Marriage is a very sacred arrangement. It is a lifetime perpetration said to be only between man and woman. These two bulk should love or be in love with each other(a). Over the years homosexuality has come to the forefront.The question of should homosexuals be allowed to marry each other has had the world in an uproar. Homosexuals, indeed should be able to marry each other with the same benefits as man and woman. Homosexual marriages was made legal for the first time in 2001 by the Netherlands. Canada was the first country to marry Homosexual couples from all nations to formally commit. Extending recognition to non traditional relationships is not an attempt to to a lower placemine the family. But rather an effort to recognize todays realities and to end decimation. Legalizing gay marriages help change and help the lives of so m any struggling gay teens.It lead reduce depression in gay teens and children. It will give children and teens hope knowin g that its okay to marry someone of the same sex. The majority of teenage suicides today are being committed because the child was bullied in school as a result of his/her sexual orientation. The same acceptance that will come about due to legalizing gay marriage will show teens that homosexuality is accepted and honoured in society. We need to explain to younger generations that being different (in any aspect of our lives) is not a social disability, so that they will never feel the need to take their own lives because they are gay.In Christianity, marriage is a life long commitment under god. It is well known to many Christians that practicing homosexuality is a major sin. How can a union, which is created for man and woman, under god, stick by two partners of the same sex if it is stated in gods book that it is morally wrong? Homosexuals should be allowed to make a lifetime commitment to their partners, but it should be called something other than marriage and should not be und er god. The biggest problem the gay population faces regarding legal marriage is the Christians.A true Christian doesnt want a married gay couple to have the same title as he and his wife have, because they take the vowel under god seriously. A firm believer would say that a gay marriage is absurd. Homosexuality goes against nature because we were given sexual organs for the purpose of reproduction, not for pleasure. It is believed that homosexuals will be forsaken for committing abominable acts and, by dint of some misinterpretations, also deserve death. When gay pride walks are taking place, some Christians protest this in the hang of Jesus.The story of Sodom and Gomorrah, in the bible, is one filled with vivid pictures of the cities destruction mainly because of the overindulgence of homosexual freedom. Some Christians believe that can happen again and that the master key will show no mercy. Many diseases can be inherited through anal sex some say this is a punishment send fro m god for the injustice. Legalizing gay marriages will help increase the adoption rate. A lot of gay couples male or female also want to have children but have trouble conceiving.By legalizing gay marriage across all states, adoption agencies will be forced to grant the same respect and rights to homosexual couples. There are over 500,000 children currently living without parents in the United States gay marriage will increase the chances for thousands of foster children to gain kind parents and families. Americans have negative beliefs about homosexuality. Same sex marriage is a particularly fruitful case for several reasons. Same sex marriages in the ground forces impinges on deeply held stares about sexual morality, family religion and equal rights.A March 2024 CBS brand-news Poll shows that 53% of Americans support same-sex marriage, 39% oppose, and 8% are undecided. The same poll also finds that 33% of Americans who now think same-sex couples should be allowed to legally ma rry say they once held the opposite view and have changed their opinion. Homosexuals should have the same privileges as heterosexuals. Need to be allowed not only to get married in any state they live in. agree the NCSL (National Conference of State Legislatures) June 27, 2011 here is a list of states that issue marriage licenses to same sex couples.Hawaii was the first state to recognize same-sex marriage. Massachusetts, Connecticut, California, Iowa, Vermont, New Hampshire, New York and the District of Columbia. States that recognize same-sex marriage from other states are Rhode Island, New York, and Maryland. States that grant nearly all state-level spousal rights to unmarried couples (domestic partnerships) are California, Oregon, Nevada, and Washington. Obtain insurance and benefits through their place of employment. They should be about to make decisions in hospitals for their spouse in case of emergency.States that provide some state level spousal rights to unmarried couples (domestic partnerships) are Hawaii, Maine, Wisconsin and the District of Columbia. With all this being said, I feel you still cant help you fall in love with whether it be heterosexual or homosexual. In todays society your going to be judge on a lot of things you do so, I feel that if you care ingenious with yourself and your sexuality why shouldnt you be able to express in out in the world. You are no different from anyone else, so you should be tempered as a equal. Gay rights are human rights.

Competition in Energy Drinks, Sports Drinks, and Vitamin-Enhanced Beverages

Case Study Competition in Energy Drinks, Sports Drinks, and Vitamin-Enhanced Beverages - emailprotected com 1. What atomic number 18 the st respectgic wholey germane(predicate) components of the global and U. S. beverage attention macro-environment? How do the economic characteristics of the preference beverage segment of the fabrication disaccord from that of other beverage categories? Explain. Demographics The total sale for beverages in 2009 in the US was about 458. 3 trillion gallons and it is one of the largest commercialiseplaces with dollar rank of 1,581. jillion in 2009 and with a forecast of $1,775. 3 billion for 2014. 48. 2 percent of industry sales were from carbonated s moo drinks and 29. 2 percent of bottle water industry sales. In 2009,The Alternative beverage industry included sports drinks, flavored or enhanced water and verve drinks do up 4%, 1. 6%, and 1. 2% of industry sales respectively. The global market for secondary beverages in 2009 was $40. 2 b illion, while it was $17 billion for ersatz beverages in US market. It was $ 12. 7 billion and $9. billion for Asia pacific and European markets respectively. Market ripening The market growth has huge potential with the dollar observe of the global market for alternative beverages grew at a 9. 8% yearbookly between 2005 and 2009, moreover was judge to slow down to 5. 7% annually between 2010 and 2014. US is the country which has strongest growth internationally in term of alternative beverage sales with an annual growth footstep of 16. 6% between 2005 and 2009 and a forecasted growth rate of 6. 7% between 2010 and 2014.Europe and Asia-Pacific grew at annual rates of 5. 3% and 5. 6% between 2005 and 2009 and were pass judgment to grow at a rate of 4. 4% and 5. 1% respectively between 2010 and 2014. nevertheless poor economic conditions in the US in 2008 and 2009 led to a 12. 3% decline in sports drink sales and a 12. 5% decline in flavored and vitamin waters sales. It was excessively the reason why capability drinks sales increased only 0. 2% between those years. Rivalry between competitors coca Cola, Pepsico and Redbull are the trinity big players that made the industry argument become global.However, on that point were hundreds of brands deal Otsuko which were specialty thus far regional brands that did not remove a foot brand internationally but were doing well in their own terms. Beverage producers had made various attempts at increasing the size of the market for alternative beverages by extending existing harvest-home lines and cave ining altogether new produces. Social Forces * orbiculate beverage companies such(prenominal) as Coca Cola and PepsiCo had relied on such beverages to sustain in volume growth in be on markets where consumers were reducing their consumption of carbonated soft drinks. Expanding the market for alternatives beverages and increasing sales and market circumstances, beverage producers as well as were force d to content with criticism from some that animation drinks, energy shots, and relaxation drinks presented health risks for consumers and that some producers strategies promoted judicious behavior, the primary concern of almost producers of energy drinks, sports drinks, and vitamin-enhanced beverages was how to best improve their rivalrous rest in the market place. Driving Forces for this industry * Expanding Market share Desire to reach out to Consumer needs and meet the necessary * Personalization of the Market Segments* Branding * Market Size * Maximization of Growth Potential General Economic Conditions * Global growth is communicate to grow at 3. 5 percent in 2012, then accelerate around to 3. 6 percent from 2013-2014. In 2012 It is expected that emerging economies will be slow in growth by 0. 7 percentage points on average, going from 6. 3 percent growth in 2011 to 5. 6 percent in 2012, partly as a result of slower export growth and partly because several of them have been growing above trend and the GDP Growth for the world is predicted to be at 3. . Things look a little slow but are picking up slowly and there is no recession in sight so far. This could really help the industries like Food, Beverages, Health mickle ahead like they already are into the market with more percentage of market share and consumer exercising ground on the increasing amount in the trend. Impact of Economic Factors * Demand on beverages and alternative beverages should remain incremental or stable * Branded alternative beverages with national and international presence should do well * Business opportunities should be encouraged with fair and encouraging interest rates 2.What is competition like in the alternative beverage industry? Which of the five private-enterprise(a) forces is strongest? Which is weakest? What competitive forces seem to have the greatest effect on industry attractiveness and the potential profitability of new entrants? The Beverage industry is super competitive and the segments that come into picture when it comes to competition are Distribution, Shelf management, Licenses, Brand name and Image, Pricing, Labeling and Packaging, Marketing and Advertising, persona and taste, Trade and Consumer promotions and Branding. Competition with non-alcoholic beverages * Competition with Carbonated beverages * Competition with regional beverage producers and private label soft drink suppliers * Competition in maintenance of diffusion engagement * Competition on quality and price* Competition on Branding, Labeling, Marketing, Packaging and Promotions. Bargaining power of Buyers absolute * Convenience store, grocery store, and wholesale buyers had capacious leverage in negotiating pricing and slotting fees with alternative beverage producers because of their bulk bribes. New entrants with comparatively lower market shares are most affected with this like how it is mentioned in the case where the shelf space is limited to pass a long brands like Coke, PepsiCo and Red bull for that particular market segment. The larger brands like coke and Pepsi alike already have spaces worked out with them for their other intersections and this makes it easier for the bigger brands to get their newer products in the shelfs too. * Delis and restaurants have low switching costs to other brands but they have less volumes compared to stores and less space, shelfs etc. nd in addition will not have the same bargaining power that a store enjoys. * Demand is super dynamic Bargaining Power of Suppliers Weak * Suppliers for alternative beverages do exist in huge numbers and the competition is high * The producers of alternative beverages are important customers of suppliers and buy in large quantities. * Packaging is promptly available Threat of Substitutes Medium* Many substitutes like tea, bottled water, juices, nutrition water etc. have surfaced but the market is not as big as alternative beverages and this customer preferenc e had weakened the competitive power of substitute beverages. Many substitutes that can quench the thirst of the consumers * Price point of substitutes is less compared to alternative beverages Threat of New entrants Weak * Brand leaders already exist in the industry with competitive prices and well established distribution agreement * Convenience stores and Shelves across the stores are already in league with existing big-wigs * Customer loyalty towards branded products is high * Need for large financial resources and funds * luxuriously Brand equity for already existing and successful brands Threat of Rivalry Strong Competition centers among major(ip) brands based on brand image, appealing taste, packaging, R&D, Marketing and Distribution capabilities * Attempts by all the brands to increase the number and types of products in their product line * Low switching costs for the consumers of the industry * Strong marketing campaigns by each brand to gain customer loyalty The Bar gaining power of consumers and rivalry that exists between the competitions in this industry contributes to the attractiveness of the industry.The numbers are promising, the industry is dynamic and increase in drive each year. The factors that affect the potential profitability of the new entrants are the Brand image, Distribution meshing and Product line breadth. 3) How is the market for energy drinks, sports drinks and vitamin-enhanced beverages changing? What are the underlying drivers of change and how might those forces respectively or collectively make the industry more or less attractive? * Driving forces of the alternative everage industry are dependent on the creating/sustaining market demand, dynamics of the growth rate and product innovation. * perseverance leaders established Segments within the alternative beverage industry have consolidated as markets have matured and leaders have been established. Red asshole GmbH and Hansen Natural Corporation remained independe nt in 2010, Coca-Cola controlled such brands as Powerade sports drink, Fuze vitamin-enhanced beverages, glaceau vitamin water and NOS.In addition, Coca-Cola distributed Hansens Monster energy drink in parts of the join States, Canada, and six European countries. * Changes in Long term Growth Rate The recession had an impact on sales of sports drinks and flavored or enhanced water and has stalled growth in the market for energy drinks there was also growing market maturity for most categories of alternative beverages. The annual rate of growth for the dollar value of the global market for alternative beverages was forecasted to decline from the 9. percent annual rate occurring between 2005 and 2009 to an anticipated annual rate of 5. 7 percent for 2010 through 2014. While dollar value growth rates were expected to decline only slightly in Europe and Asia-Pacific, the annual rate of growth in the U. S. was projected to decline from 16. 6 percent during 2005 2009 to 6. 7 percent betw een 2010 and 2014 * Product Innovation The industry is proceed to evolve with introduction of new products that enable rise of new kin of products.The recent introduction of energy shots is an example of how an innovation that has given rise to an altogether new sub-segment in the industry. * The creation of new product segments, the increasing positive trends in growth rate and increasing market share for each product are a good indication and good drivers of change that increase the attractiveness of the market for an emerging industry. 4) What does your strategic group map of the energy drink, sports drink, and vitamin-enhanced beverage industry look like?Which strategic groups do you think are in the best positions? The worst positions? The strategic group maps show the industry participants competing with axes of geographical foot print and Brand. The Map shows that Industry giants like Coke and Pepsico are positioned strongest in the industry delinquent to already existing contracts, supply chain, distribution network and shelf spaces in retail spaces. * Red Bull is seeing a successful brand in Europe and the U. S. Hansens Monster is also doing good standing up to the other market giants with distribution partnership with coke giving it the required space and probability to grab the market and hence can be considered at a favorable position. * Rock unity has also been at a favorable position due to the same reason of distribution network partnership with PepsiCo* Companies with a single brand and regional distribution like Otsuko, Vitamin water etc. appeared to be at an unfavorable place with chances of competition gulping the market share of the small players very soon. ) What primaeval factors determine the success of alternative beverage producers? The Key success factors for Alternative Beverage producers are * constant Product Innovation A company must be able to identify what a consumer is looking for and also maintain the ability to adapt with the changing market trends. They must be able to upkeep up and not lag behind. * Price Price is always a factors in many cases and in this case consumers with a low brand preference will buy a product based on its competitive pricing * Brand Loyalty Consumers are particular about what brand they purchase and they stick to it in most of the cases.This stresses for a superior brand image and quality * Distribution system Probably one of the most important, Effective distribution channels will not only help reduce costs but also helps a company remain competitive. * Size and Scale undefeated alternative beverage producers were required to have sufficient sales volumes to keep marketing expenses at an refreshing cost per unit basis. 6) What recommendations would you make to Coca-Cola to improve its competitiveness in the global alternative beverage industry? To PepsiCo? To Red Bull GmbH? Recommendations to Pepsi Pepsico have to launch a major image building campaign for the mos t promising products it has. * Pepsico also needs to develop its own energy shot brand try to allure Rockstar to add an energy shot to its distribution agreement. * In addition, Pepsi should negotiate for distribution rights to European and Asia-Pacific market with Rockstar or launch its energy drink brands in attractive international markets. * PepsiCo can expand its foot print and focus on other international markets in energy drinks for more international presence and to utilize the demand of a branded and standard product.Red Bull is currently the number in the energy drinks category and they should really take advantage of that and come up with more product line extensions and more products so people can identify with that brand and try other products too. They should focus more on product innovation and product line extensions. Recommendations to Coca Cola * Coca cola should improve its product by innovating and building up good image to recapture the market share it lost in energy drinks category. * Coca cola should also try to create more rapid growth in vitamin-enhanced beverages and energy shots product. Coke should focus on products and Branding efforts to gain market and regain lost market share in energy drinks * It should build up its strength in term of alternative beverage sales in by pursuing acquisitions and focus on building its strength of sales in Asia and reply quickly to solve the problem of lacking competitiveness in the European market for alternative beverages. * Coca cola can use a combination of new flavors and formulations, brands, line extensions, improved image building, and distribution capabilities to increase sales of alternative beverages internationally.Recommendations to Red Bull GmbH * Redbull should improve the performance of its recently introduced energy shots and cover up to expand into rapidly growing country markets for energy drinks. * It is necessary for the company to maintain its lead in the U. S. and Europea n energy drink market with additional product line extensions based upon product innovation. * It should develop sports drinks or vitamin-enhanced beverages that can further exploit the appeal of the Red Bull brand 7. Using the selective information in Ex. 11, 12, 13 compare Pepsi, Coke, and Hansen.Who has been the most remunerative? Who has better managed their expenses? Which business has shown the most growth? Which of the three would you give the strongest grade for their performance? * Using the data from Exhibit 11,12 and 13 for Coke, Pepsi and Hansen, Hansen seems to be the most profitable so far as it became the largest seller of energy drink in the US by in the lead most of alternative beverage categories. PepsiCos global market share in 2009 was 26. 5 percent, overtake by 11. 5 percent to Coca-Cola.The Coca Cola has better managed their expenses it was the third-largest seller of alternative beverage and in the top five best-selling non-alcoholic beverages worldwide in 2009. But they have lot of catching up to do. I would give the strongest grade for performance to Hansen for its market share, range of products, product innovation and distribution strategies. Hansen also managed to have higher revenue growth and higher cash flow growth. Net Revenue 2007 2008 2009 CAGR Pepsi 39374 43251 43232 3. 17% Coca Cola 28857 31944 30990 3. 40% Hansen 904465 1033780 1143299 4. 50% Net Income 2007 2008 2009 CAGR Pepsi5674 5166 5979 1. 76% Coca Cola 5981 5807 6824 4. 49% Hansen 149,406 108032 208716 11. 70% Operating profit 2007 2008 2009 CAGR Pepsi 7182 6959 8044 3. 85% Coca Cola 18451 20570 19902 2. 55% Hansen 230986 163591 337309 13. 40% The company growth rate analysis of the three companies in terms of revenue, income and profit show that Hansen has higher percentage of growth rate well above the industry average. Hansen has greater revenues in the industry segment and higher customer demand and financial success.

Honor Thy Children Essay

Overall the earmark Honor Thy Children by Molly Fumia was great. There were points in this disc that just tugged at my heart. For example when the Nakatanis found proscribed that their middle son Greg was shot and killed. There were also points in this book that I felt if I had been in their position, I would be in a great deal of pain and misery and would non know how to work through all that had happened. I thought that Al and Jane were brave parents to endure the deaths of their triple sons. This book by utter close was the most interesting non-fiction book I give way read. This book would conk the heart of any person that read it.The top hat thing about this book by far is how the parents have persevered throughout all these events that has happened to their family. From the running away of Glen, the murder of their son Greg, the finding out that their sons Glen and khat were gay and their contraction of HIV, and also the death of them. They had to have heavy hearts af ter all of this happened, and notwithstanding they still go through all the HIV campaigning to show us how dangerous this complaint is. A thing I did not interchangeable about this book is that there were very petty happy things that happened to this family.I also thought that it was exhausting to keep track of the Nakatanis children because all of their name calling were so similar. If I were to grade this book, I would give it an A++ because this is a very good book and shows that humans have the will to push through any obstacle. Even though they have gone through all of that God did not give them a break and show them mercy. Despite their hard troubles, they pushed through all the sadness and despair and turned it around to help other multitude not make the same mistakes as them.This would definitely be a book I would recommend to people because there are very good life lessons in it. For instance, there is a limit to stiff parenting, choosing your words correctly (Greg ), and when faced with the worst of situations there is always something you quarter do about it. It also demonstrates that when a child is is pain and dying, parents always want to try and help to do whats best for them, even at the expense of their own self. I think this book would be for ages 15 and up because there are things that would be hard to understand for someone of a young age.Also I feel that the person reading it should have some respect for gays, lesbians, etc. otherwise reading this book would be pointless. The book and movie were great to say the least. It taught me to accept who you are and that death is not the end. Memories can carry on and teach others how to deal with the loss of your loved ones. This book allowed me to take a glance into the Nakatanis life and how they dealt with the loss and the grief that followed. Honor Thy Children taught me that no matter what life throws at you there are always ways to overcome these challenges.The thing I thought was most interesting was khat will to go out to peach even while confined to a wheelchair. He had the braveness to go out in the state he was in and speak. The person I identify most with in this story would be Greg. I identify with Greg the most because he was the middle son, a macho, speak his mind kind of person. The person I would identify least with would be Guy. I identify least with him because if I had gotten HIV and knew I was dying I would probably hate the world and seclude myself and not really try to do anything.This book did not really impact my life because even though it was a great book, it did not really carry that much to my life. I think that, because I have not had something similar happen to me, I have no gay or lesbian friends and I also do not know anyone with a serious disease. I think that the only things that would apply to me would be the Asian/Hawaiian purification, the dealing with the death of a loved one, and parenting. Their culture is exactly like mine because I am Japanese and I was born and raised in Hawaii. In our culture we are taught to respect your elders and listen to them.I also felt that the Nakatanis dealt with the death of their sons better than I would have. When my brother and grandparents died I had a hard time and at some points I went through a period of depression that lasted a month in which I did not attend. It made me feel that I should have been a better grandchild and brother because I caused them a lot of trouble. The parenting part got to me because I was well-fixed that my parents, who were somewhat strict, were not as strict as the Nakatanis. This helped me learn to appreciate my parents more.

Case Study †AES Corporation Essay

Dennis Bakke, the CEO of AES, a gild that develops, builds and operates electric power whole caboodles, sat in his office late in 1996 and thought about the uncertainty that was perennially posed to him could AES, soon to move over some 25,000 good deal located literally all oer the world following a recent secure of power set outs in Kazakhstan, keep to operate with nearly no staff functions and, specifically, without any human resource staff anywhere in the corporation? The absence seizure of centralized staff or, for that matter, much staff at all had been one of the themes guiding the send off and doing of the corporation since its founding. The social club, in addition to having no mortalnel department, had no public relations, legal, environsal, or strategic training departments. Its chief financial officer, Barry Sharp, saw his job non so much as running a centralized finance function but rather as helping all the AES employees as they do important decisions about support and enclothements in a very peachy intensive disdain.But the confederation was becoming much prominentr and increasingly geographically dispersed. Perhaps those early decisions filled to be rethought. Could what cogitationed for so long continue to work as the corporation grew and operated increasingly on a ball-shaped arse? Could the advantages of flexibility and having virtually every employee feel accountable for to the highest degree all aspects of the corporations trading subprograms continue to outweigh the costs of an absence of specialization and the need to nourish quite a little always discipline new tasks and new things? Was this continuous learning of new things really a disadvantage at all, or as Bakke thought, how one created a real learning governing body? What Bakke recognized was that AES was different from most separate corporations. How different should and could it remain?And if it remained different, how should it deal with the strains that growth and geographic differentiation would inevitably place on an organization that had always been managed by a strong set of time values and a sh bed culture? This face wasprep ard by Professor Jeffrey Pfeffer as a basis for class discussion rather than to dilate either effective or ineffective handling of an administrative situation. Support for this case was provided by the piece Resources Initiative of the Graduate School of Business. The author would alike like to acknowledge Robert Waterman for his introduction to the smart set. minimise AND HISTORY AES (originally called Applied vigor Services) was founded in 1981 by Roger Sant and Dennis Bakke. Originally provision consulting services to the energy industry, the corporation began operating its first power coiffe in Houston in 1986 and went public as AES in 1991. By the end of its 1995 fiscal year, AES was selling electricity to customers in the United States, England, Northern Ireland, Argentina, and China, and had plants under construction in Pakistan. A list of AES operating facilities, their size, and fuel source, is provided in Exhibit 1. The community saw itself as the global power society and had as its mission supplying electricity to customers world-wide in a socially responsible way.The electric power generation business has always been very competitive and the competition was increasing. Many subsidiaries of large oil and gas companies, organizations with substantial financial resources, were entering the business. The business was also complex. Building or get existing power plants was a process that was heavily influenced by governmental decisions and functionions, and often took two to 4 geezerhood at least to complete. AES owned and operated its plants under a offspring of different financial arrangements. well-nigh plants were whollyowned by AES. Others were owned under various joint accident arrangements. For instance, the Medway plant in England was jo int venture between AES and two privatized British utilities, Southern Electric and SEE-BOARD.The plant in San Nicolas, Argentina was owned by a partnership in which AES held 70% interest and Community Energy Alternatives, Inc. and the populate at the plant held the rest. AESs operations in China were conducted by a separate subsidiary, AESChina Generating Company Ltd., that was capitalized in February, 1994 with funds from AES and an initial public offering. The company was traded on the over-the-counter market, but recently AES had announced plans to purchase the interest in the subsidiary it did non own. Thus, financial support and ownership arrangements were varied and often required elongated negotiations and the ability to work with a number of different partners. Most of the growth in demand for electricity, as well as most of the privatization opportunities, were occurring in developing or emerging economies and three-quarters of AESs development people and financial res ources were focused on those markets in 1996.AES saw as its competitive advantage against larger and rectify financed competitors its agility or speed and its ability to commit corporate equity and to arrange complex financial transactions. It also had some disadvantages, particularly its emphasis on integrity that precluded the company from doing some things to obtain business that not all of its competitors were as reluctant to do. The companys two founders some(prenominal) had extensive stupefy in government prior to founding AES, and to some extent this helped steel their determination to avoid creating a bureaucratic organization resembling the government.Bakke, a 1970 MBA graduate from Harvard Business School, had worked following graduation at the Department of Health, Education, and wellbeing and then in the Office of Management and Budget before moving to the Mellon Institutes Energy Productivity Center in Washington, D.C. There, he and Sant, another Harvard MBA who had headed the Ford administrations energy conservation efforts, worked together and AES 1995 Annual Report, p. 1. wrote a phonograph record, Creating Abundance Americas Least-Cost Energy Strategy. forth of the research for that book and their work on energy policy for the Ford and Carter administrations came the idea to start AES as a participant in the new independent power producer industry. Both Bakke and Sant atomic number 18 individuals with strong moral convictions and and so both have a touch of the missionary in them. Bakke is very active in both charitable andChristian church (Baptist) activities.This social conscience and sense of a higher purpose or calling has pervaded the operation and management of AES since its inception. For example, Bakkes description of the purpose or mission of AES is to steward resources to visit the needs of society. 2 From the beginning, AES has had a strong set of core values and beliefs about people that it workings hard to operationali ze on a continuing basis. The four core values are legality Integrity comes from the Latin word, integra, which marrow wholeness. By carefully weighing all factorsethical concerns, s conceiveholder interests, and societal needsAES strives to act with integrity in all of its activities. Fairness . . . the term fairness means justice. Often fairness is befuddled with sameness We dont mean that. AES aspires to give everyone special treatment. Everyone is unique And the effects of treating people rightly in corporate systems and organizations can be profound.Social debt instrument. The most socially responsible thing a corporation can do is to do a superb job of meeting a need in society. Therefore, companies must carefully manage capital, employees and intellect to meet a societal need. For AES, the first footprint in this process is to ensure that every generating plant is operated in a clean, reliable, safe, and cost-effective manner. But we have chosen to go beyond these es sentials That is why we plant billions of trees to offset carbon dioxide and build new schools and take numerous other steps to improve our purlieu and build communities. Fun For us, fun means establishing an environment in which people can use their gifts and skills to make a difference in society without apprehension of being squelched. Creating a fun workplace environment requires a positive view of humanity that begins with the people who work in the corporation.3 AES also has a set. of core assumptions about people that it tries to use in pattern and managing its organization. These assumptions are that AES people 1) Are creative, thinking individualscapable of learning and making decisions, like to control their environment and can be trusted 2) Are responsiblecan be held accountableAn important broker of AES is its commitment to four major shared values .. . AES believes that earning a fair profit is an important issue of providing a quality product to its customers. However, if the Company perceives a conflict between these values and earnings, the Company volition try to adhere to its valueseven though doing so might result in modest mesh or foregone opportunities. Moreover, the Company seeks to adhere to these values not as a means to achieve economic success, but because adherence is a worthwhile goal in and of itself The Company intends to continue these policies after this offering.s To AES, simply maximizing profits is not the primary objective of the corporation. Dennis Bakke has written Where do profits fit? Profits . . . are not any corporations main goal.Profits are to a corporation much like breathing is to vivification. Breathing is not the goal of life, but without breath, life ends. Similarly, without turning a profit, a corporation, too, will cease to exist. . . . At AES we strive not to make profits the ultimate driver of the corporation (although I admit we slip from time to time in this regard). My desire is that the pri nciples to which we strive would take preeminence.6 AES operationalizes its values and its commitment to them in myriad operating policies and practices.An example, drawn from a habitual stock offering prospectus in 1993, helps to illustrate how the company turns its values into actions Most of the Companys plants operate without shift supervisors. The project subsidiaries are responsible for all major facility-specific business functions, including financing and capital expenditures. Every AES person has been encouraged to participatein strategic planning and new plant design for the Company. The Company has generally organized itself into multi-skilled police squads to develop projects, rather than forming staff groups to carry out specialized functions. two examples illustrate these principles of decentralization and empowerment in action. Most financial decisions at this financially-leveraged company are not made by the chief financial officer, Barry Sharp, but rather by AES project teams comprised largely of people with no formal training in finance. For instance, hard as it is to imagine, CFO Sharp has raised less(prenominal) than $300 million of the approximately $3.5 billion of funding for AESs 10 power plants. The multidisciplinary project team working on each new plant is charged with that task, even if the team has little finance experience. Bankers phone Sharp expecting him to call the shots, but he demurs and instead gives the bankers a list of the team members so the bankers can call them directly. At the AES plant in Thames, Connecticut, a task force including front-line people invest the plants debt reserves, negotiating directly with investment bankers and, in the process, learning a lot about finance and financial markets.Pam Strunk, the financial superintendent at the plant, said that it was important that they have the fun and novelty of doing something thats different from what they do all twenty-four mins. If we lose 100 basis points for a few days, then thats the price we pay. 8 Another example comes from a description of how the corporation built a $404 million project in Cumberland, Maryland. The project took ten years to put together and was handled by a team of 10 people who secured 36 separate permit approvals involving two dozen regulatory agencies and arranged financing that involved tax-exempt bonds and 10 lenders. Normally, such projects require hundreds of workers, each with small specific tasks to perform in spite of behavior large corporations.9 What is particularly noteworthy is the composition of the team. With two exceptions, they were all under 40 years old and umteen had little or no previous experience doing what they did on the project. Paul Burdick, a mechanical engineer with no MBA or any formal training in finance, handled the complex financing of the project. Ann Murtlow, the team leader, was a thirty-five year old chemical engineer who also did not have an MBA degree. The composition and operation of the team illustrates a core AES concept of allowing people to try new things. Although eschewing the sideline of profits or maximizing shareholder value as the primary objective of the company and, in fact, doing numerous things to operate according to the four core values, the company has nonetheless been very financially successful.As seen in Exhibit 2 using data drawn from its 1995 Annual Report, the firm enjoyed a cv% growth in revenues between 1991 and 1995 and during that period grew its earnings per share more than 113% while its total assets grew almost 70% and its shareholders equity grew 289%. The annual report also illustrates some other unique things about the company and how it views itself. The document lists by name each of the 1,258 people who work for the company on pages 49-53.The discussion of operations in the letter to the shareholders has, as its first section, one on Shared Values/Principles. That section account on the results of the annual employee survey and discussed both improvements ( there is less concern this year about an unstableness between shareholder and other stakeholder interests. There is also less fear that our principles will erode as we create businesses in many nations) as well as problems (Some of our people at Thames .In eight years, the value of a share of AES stock went from $2 to $250, and $10,000 invested in AES in 1982 would now be worth $10 million. In late 1996, the companys shares were near an alltime high and were selling at a multiple of about 30 times earnings, indicating that Wall Street appreciated even if it did not always fully understand at least the financial aspects of the AES story. THE THAMES, CONNECTICUT PLANT Although no plant at AES is exactly like any other, in part because of the value placed on decentralization, the operation in Connecticut is typical of AES. The Thames plant is located in Uncasville, Connecticut, near New London, and about 45 minutes from Providence, R hode Island. The plant is located on only sevener acres and is in close proximity to neighboring houses.The plant cost $260 million to construct and uses coal for fuel. It began commercial operations in March, 1990, supplying 181 megawatts of electricity to Connecticut Light and Power and up to 100,000 pounds of steam per hour to Stone Containers story recycling plant that is adjacent to AESThames. The plant has operated on average at over 95 portion of capacity since it opened, compared to 83 percent for the industry as a whole. Consistent with the AES value of social responsibility, the plant strives to be a good neighbor to those living nearby. A visitor to the plant is immediately taken with(p) by its cleanliness, and the people who work in the plant are proud of its appearance. The walls of the plant exterior are very light colored (off-white), so that any dirt would be immediately visible.The color of the walls was measuredly chosen to encourage respect for the physical environment and cleanliness. The place where the coal is unloaded from the barges that bring it up the Connecticut River is also immaculate. The coal handling system is covered toavoid excess dust or debris getting into the surroundings and the unloading dock and surrounding area is swept by a mechanical sweeper after the once a week delivery. There is no smell of reciprocal ohm in the air, and in fact, no odor at all. The attitude of cleanliness extends inside the plant as well. For instance, there are two eat rooms, although both have stoves, and one has a microwave oven, cooktops, refrigerator, and dishwasher as well, which makes them more than a typical plant eating area. Quite elaborate meals are cooked there. Both lunch rooms are clean with no dirty dishes sitting around. The cabinetry is of excellent quality and appearance as are the appliances. The turbine rooms are also immaculate. In keeping with AESs social responsibility and concern for the environment, the AES Thames plant has funded a project to plant 52 million trees in Guatemala, designed to digest the greenhouse effect produced by the burning of coal to produce power.The number of trees was selected based on estimates of the number required to absorb the entire amount of carbon dioxide produced in the plant during its anticipated 40-year life span. In the fall of 1996, Thames employed a total of 59 people, including five in adininistration, seven area superintendents, golf club in maintenance, five in material handling and processing, eight instrument and electrical repair technicians, and 20 operations technicians. The full staffing level for the plant is 63 positions, and hiring was occurring at the time. A number of the plants employees had previously worked either for the Navy or General Dynamics at the nearby Groton, Connecticut shipyard. active 20% of the people in the plant have college degrees, including Associates degrees. Recall, these are the people that are handling the invest ment of the plants debt reserves of several millions of dollars and essentially making all of the decisions in a collaborative environment.There is very little emphasis onformal credentials in the hiring process. And this is true throughout AES. The company has about twenty to thirty MBAs, many of whom have been in the company a while. Most have come from their home (non-U.S.) countries. At AES, no one gets hired into the company at a senior level, and the company tends not to use headhunters for jobs at any level. The company also has tried not to hire directly into project director (new development) positions. AES-Thames has an extremely low turnover rate, as does AES generally. One of the reasons for the low turnover is that AES is a different and special place and people know it and value that fact. To be written about in the Wall Street Journal and other publications, to receive many visits, reinforces the pride and feeling of uniqueness that AES people share.People do often mo ve within the company. Out of perhaps 70 people who were in the Thames plant when it began, only 4-5 people have left the company in seven or eight years. The low turnover is also because, as one person put it, we all have the ability to expand what we do. The plant organization has three levels the plant manager, the seven area superintendents, and the front-line people. Because the facility operates continuously, there is some shift work. After some experimentation, people now work three twelve-hour shifts and then have three days off. They then rotate between the night and day shifts. The first shift is from 630 in the morning until 630 at night, and the second gear shift is from 630 P.M. to 630 A.M. Maintenance has a standard 40 hour week but the individuals have pagers, and they rotate responsibility for off-hours coverage.