Making Solar Energy Economical PowerPoint Presentation

Making Solar Energy Economical - PowerPoint Presentation Example The demand for energy is dependent on properties of conversion means, technologies, and costs. Human energy makes use of resources that can be depleted in particular fossil fuels derived from the preferences. Market forces and cartels may guide a transition back to sources that are renewable. Energy as such has its effects and they come in terms of very heavy environmental costs. At the end of it they are incorporated into the energy cost and prices leading to overuse of energy and motivate policy inventions. Focusing on human utilization of the energy commodities and energy resources and the aftermath of that utilization is the main discussion of many experts. From an economist’s perspective the economic terminology, â€Å"energy† is inclusive of all energy resources and energy resources that have significant amounts of physical energy and as such can perform work. Partly, the study focuses on forces that lead economic agents to pursue alternatives in terms of other ec onomically efficient provision and use of energy resources and commodities. The role of alternative energy market and regulatory rules on the activities of producing energy is a point of consideration for these studies. There is a kind of energy that can be replenished in a short period of time called renewable energy, which comes from sources that frequently being recycled and usually less polluting than energy from fossil fuels. There are five main categories of renewable energy: wind and solar, biomass, geothermal, hydropower among which the solar energy, provided by heat and sunlight, has been utilized least yet. However, solar energy holds a number of benefits for societies and it has already proven to have positive effects on residential homes and industrial applications. For many years, the economic choice of energy to use has been solar energy in many industries. In this areas power is required at remote locations without government help, as the vast majority of systems used need few kilowatts of power. Also, solar energy is frequently used on transportation signaling. For example, offshore navigation buoys, lighthouses, and increasingly, road traffic warning signals are using solar power due to its power saving efficiency. Solar power’s great benefit here is that it is highly reliable and requires little maintenance so it is ideal to use in places that are hard to access. Following are some details of the major advantages of solar energy. Primarily, as mentioned above, solar power is particularly useful in remote areas where it is lack of regular electricity supply. Moreover, a lot of greenhouse gases such as nitrogen oxide, carbon dioxide, mercury or sulphur dioxide that come from many traditional fuels have been kept from releasing into the atmosphere, and it greatly contributes to the decrease of harmful green house gas emissions. Accordingly, solar energy is extremely environmentally friendly. In addition, solar energy systems are free of c harge substantially on conservation and will last for a relatively long period. Once installed, there are no recurring costs. They do not require you to add any fuel. More solar panels can be set up in the future with your energy requirements increase. Energy security is the guarantee of a reliable and stable supply of energy at reasonable economic prices. Relying on main energy sources such as oil and

The crisis of communism Essay Example for Free

The crisis of communism Essay Why did Deng Xiaoping survive the ‘crisis of communism’ whilst Mikhail Gorbachev did not? The dominant powers of communism, China and the Soviet Union, were about to face a major test to their systems of governance in the 1970s and 1980s. Consequently, only one of them would survive. The ‘crisis of communism’ had its roots in the disillusionment of the people, after having been ruled for so long under repressive and clearly human rights-ignorant regimes. Deng Xiaoping managed to escape the wrath of this protest movement by, although reforming the economic system of China in various ways, clamping down on political systems, ensuring that the power of democracy bestowed on the people was not enough to usurp upon Xiaoping’s rule over the country. Gorbachev suffered a dissimilar fate. His failed economic policies of glasnost and perestroika, and the simultaneous political leniencies of his era meant that the Communist Party lost its place in the Soviet Union. One by one, the satellite states of the Eastern bloc would break away from the USSR’s control. Xiaoping became ruler of China among very difficult times, both economically and socially. The aftermath of Mao Tse-tung’s underwhelming contributions to policy was taking its toll on the people of China. Xiaoping was originally meant to be purged by the Gang of Four in 1976 during their attempted coup d’etat of the Chinese Government. One of the Gang of Four’s members was Mao Tse-tung’s last wife, Jiang Qing. However, when Hua Guofeng was appointed Communist Party chairman, he managed to turn the Red Army over to his side. The Gang of Four were subjected to a show trial and all given life sentences in prison. Consequently, the Democracy Wall was set up as a medium for which to criticise them and their treasonous crimes. With this sociopolitical relaxation in place, initialised by Huang Xiang, Deng Xiaoping rose to power. Xiaoping’s first reforms were on agricultural policy. The Great Leap Forward (GLF) and the Down To The Countryside migration movement of people from urban to agrarian communities, both bids to boost the role of agriculture in China’s economy, drew huge losses, and exacerbated the state of poverty among rural communities in China’s north and west, as the Soviet Union had predicted. To make matters worse, the communities who had been submitted to the GLF policy suffered severe droughts which decimated crops and left people hungry. To attempt to remedy these issues, Xiaoping abolished the communal system of agriculture and reissued the peasants with their private plots of land. Although the prosperity of rural Chinese communities wavered under Xiaoping’s rule, he had large support from them as a whole. China also underwent huge economic reforms under Xiaoping, which he termed ‘market socialism’. He directed Hu Yaobang, the General Secretary of the CCP, to impose most of these reforms. For the first time since the rule of the Kuomintang, China opened its markets up to the rest of the globe, in pursuit of a ‘free market’ approach to its trade. In this way, China would be able to benefit from the dollar of others, as its internal production suffered. Xiaoping also set up ‘Special Economic Zones’ (SEZs), such as the town of Shenzhen, which is now a city of 3.5 million people. Xiaoping’s economic policies were initially successful, but increased inflation and internal government corruption led to protest. Also, many of the party elders (most of them Maoists) opposed free market reforms and the attempts made by Xiaoping to make China’s government more transparent and open to scrutiny. When student protests in Beijing began, Hu Yaobang was criticised for being ‘lax’ by his political opponents, and was forced to resign, being replaced by Zhao Ziyang. When Hu Yaobang died, 100 000 students called for the government to reassess his legacy, and engaged in a mass protest in Tiananmen Square, demanding greater transparency of the Chinese government. Communism was being challenged by the people. Xiaoping, however, had a hold on the army, and used them to deal with the protests. This was a complete volte-face on Xiaoping’s part. Although he opened up the idea of democracy to the people of China for the first time, Xiaoping was relentless in silencing the Tiananmen protesters, even resorting to massacre in order to hold ‘peace’. When the defiance of the infamous ‘Tank Man’ was caught on tape, being seized by army officials, the Chinese government did its best to censor its release. Their attempts failed, and suddenly the whole world knew of the extent to which the Chinese government would go to maintain its hold of power on the people. Although Xiaoping was able to withstand these challenges to communism, Gorbachev could not. Gorbachev came to power in the Soviet Union succeeding a tide of disillusioned leaders whose ‘inertia’ in decision making meant that the Soviet Union’s economy, social tension and standard of living were starting to go stale. The age of these past leaders, due to their old age and ridiculously poor health, was termed the ‘gerontocracy’ of the Soviet Union. To rectify the inaction of these leaders and the disillusionment of the people towards the Communist Party, Gorbachev decided immediate reforms were needed to restart the economy and to regain social trust. He introduced two key policies: glasnost, meaning openness, which was make the government more transparent and allow freedom of speech; and perestroika, a political movement of Gorbachev’s which introduced demokratizasiya (democratisation of the government) and economic reforms which allowed foreign investment. Gorbachev’s perestroika movement also had other hidden side effects; it would cause the end of the Eastern bloc and the dissolution of Eastern Europe. The perestroika movement cut Gorbachev’s Communist Party into two: liberals who wanted this reform to be accelerated and ‘old communists’ who did not like the idea of reforming the Soviet Union’s systems at all. After some setbacks, Gorbachev managed to push the reforms through. However, his intention to keep a one-party system failed, as elements of a multi-party system began to crystallise. Boris Yeltsin, formerly a supporter of Gorbachev, was now independent of the Communist Party and challenging him. Meanwhile, after the international embarrassment caused by the censorship of the 1986 Chernobyl nuclear reactor explosion, Gorbachev began releasing Soviet dissidents who had been kept imprisoned, and allowed even greater freedom of expression, rather than tightening it, as Xiaoping did. Gorbachev also supported the tearing down of the Berlin Wall, which signified the end to the repressive ‘iron curtain’ the Soviets had been ‘protectedâ⠂¬â„¢ by for nearly forty years. However, it soon became clear that perestroika was not targeting the correct areas of the Soviet Union’s economy which needed serious attention. Although Gorbachev now allowed privatisation and engagement in foreign trade and investment, much of the macroeconomic aspects of the Soviet command economy were still intact, such as price controls, and the monopolistic control of the means of production by the State. Thus, perestroika was a largely unhelpful ‘trickle-down’ policy, contrasting the SEZ policy of Xiaoping’s, which had the inverse effect. Perestroika only moved the bottleneck of the Soviet economy downwards, which failed to alleviate the continuous poverty which afflicted the country. The conservative side of the Soviet government was appalled with Gorbachev’s actions and how the Communist Party’s power was gradually being marginalised. Gorbachev also saw this, and to quell the opposition’s protest, he attempted to avert the dissolution of the Soviet Union by installing the New Union Treaty, which proposed a new confederacy named the ‘Union of Sovereign States’ which would replace the Soviet Union. But within it, the federal system would be less centralised and there would be a greater distribution of political power, which reduced the Communist Party’s control even more. Gorbachev was meant to sign the treaty on 20 August 1991, but was stopped by a coup d’etat attempt of Yeltsin’s (assisted by several others). On the day of the proposed signing, they issued an ultimatum for Gorbachev to declare Gennady Yanaev of the Communist Party the new President of the USSR, or call a union-wide state of emergency. Gorbachev accepted to do neither. He was consequently placed under ‘house arrest’ as the citizens of Moscow began erecting barricades around the presidential estate. On 21 August, tanks intruded on the Red Square, and an attack on the White House was imminent, but the tanks were barricaded by trolleybuses. When the coup was officially over, Gorbachev dismissed all members of the State involved with the coup from their positions. After this incident, Gorbachev knew that his popularity was waning. His last major political decision was to establish the Belavezha Accords, which denounced the 1922 treaty that established the Soviet Union. The Belavezha Accords were signed on December 8 1991, On December 25, Gorbachev officially resigned as President of the Soviet Union, replaced by Boris Yeltsin, and on December 26 the Soviet Union ceased to exist. Conclusively, it is clear that while there were similarities between the reformation of the Chinese and Soviet political and economic systems as a response to the ‘crisis of communism’, the reason why Xiaoping succeeded this era and Gorbachev did not was because the Chinese government retained control over its people and did not allow opposition to the Communist Party. Gorbachev marginalised this power, which polarised the Soviet government. Gorbachev also relied on a ‘trickle-down’ economic policy to save the Soviet economy, which unfortunately did not achieve what it set out to do. Finally, Gorbachev’s attempts to ‘democratise’ the Soviet Union and prepare its federal system for reformation failed when it resulted in a complete dissolution of the entity.

Experiences with Faith Essay -- Catholic Christian Theology

What is faith? Faith is something different to everyone. If you asked a hundred different people, you would get many different answers. Faith holds an extremely complex meaning when discussing it in the context of religion. Faith is a belief. It holds true to every religious and non-religious person. Every faith involves a decision. It is not about what we claim to believe, but what we actually do believe, that is true faith. "Trust in the Lord with all your heart, And lean not on your own understanding, In all your ways acknowledge Him, And He shall direct your paths.† Proverb 3:5-6 That has to be my favorite proverb from the bible, whenever I feel like screaming â€Å"Why Me†, I simply play that proverb in my head and just tell myself that God has a plan for everyone. My Catholic faith is very important to me and I hold it very dear. I go to mass every Saturday night at 4:30 at St. Pats. I feel going to mass is a way to talk to God and I feel the closest to him during mass. At mass I feel like I am deepening my relationship with God. I look to God as a role model and I d...

Share Capital

? SHARE CAPITAL Share capital is the Funds raised by issuing shares in return for cash or other considerations. The amount of share capital a company has can change over time because each time a business sells new shares to the public in exchange for cash, the amount of share capital will increase. Share capital can be composed of both common and preferred shares. Each share carrying a vote in the management of the business, managerial control may be limited. The authorized capital of a company is the maximum amount of share capital that the company is authorized by its constitutional documents to issue to shareholders.Issued Capital is the value of the shares issued to shareholders. This means the nominal value of the shares rather than their actual worth. The amount of issued capital cannot exceed the mount of the authorized capital. Types of Share Capital:- Redeemable Shares Ownership shares that the issuing business may repurchase. Some redeemable shares are mandatorily redeemabl e and must be repurchased by the issuer on a particular date or on the occurrence of a specified event, such as the death of an owner. Preference SharesPreference shares differ from ordinary shares in giving the holder preferential rights to receive a share of annual profits. An ordinary dividend cannot be paid unless all preference dividends due have been paid in full. Preference shares are also higher in the creditor hierarchy than ordinary shares, and have a preferential right to receive the proceeds of disposal of the assets in the event of a company going into liquidation. They are therefore less risky than ordinary shares, even though they are legally share capital as well. There are three further types of preference shares:-Participating preference shares Preference shares which, in addition to paying a specified dividend, entitle preference shareholders to participate in receiving an additional dividend if ordinary shareholders are paid a dividend above a stated amount. Conv ertible preference shares A preference share that can be converted into common shares at aset conversion price. A company may issue them to finance a major acquisitions without increasing the company’s gearing or diluting the EPS of the ordinary shares. Redeemable preference sharesA preference share which must be bought back by the company at an agreed date and for an agreed price Deferred Shares A share that does not have any rights to the assets of a company undergoing bankruptcy until all common and preferred shareholders are paid. Where it exits, it will rank behind all other shares for dividend. Non-voting Shares A share which equity that does not have a vote, even though it is entitled to a share of the profits. The term is not usually applied to preference shares, although preference share do not have votes, they receive a fixed dividend.Retained profit:- Retained profit is the profit kept in the company rather than paid out to shareholders as a dividend. Retained prof it is widely regarded as the most important long-term source of finance for a business. Dividend payable:- The amount of dividends which have been declared by a company’s board of directors and which are obligated to be paid to shareholders. If the dividend yield falls, then the share becomes less attractive compared to other investments, demand for it will fall, and supply will increase as investors wish to sell. Newspaper information on share:-Many of the broadsheet papers include a section showing security prices and related information including: the highest and lowest prices during the year; the closing price the previous day; the change in price over the previous trading day; dividends net of tax; dividend cover; gross yield; and the P/E ratio. Share categories:- Shares are categorized according to the company type and trading frequency: ? Alphas These are the shares of the most prestigious companies which are generally heavily traded and dealt in by a large number of m arket-makers. Prices are posted immediately on SEAQ ? BetasThese are also large company securities, but they are not as heavily traded as alphas. They must have at least four market-makers dealing in them and prices quoted on SEAQ are those at which firm deals can be made. ?Gamma These securities are traded lessfrequently than betas and the prices quoted for them are merely indicative. ?Deltas These are the least traded of all and no prices are actually shown, simply indications of a dealer's interest. Penny shares:- Penny shares are shares which have a very low value with the bid or offer spread of such shares exceeding 10% of their market value.Investors buy such shares in the hope that the market has undervalued their prospects and that they will make a substantial profit when the price recovers. Methods of issuing shares:- One way in which a firm can expand is to issue additional equity –usually on the main Stock Exchange or second-tier market, either by a quoted company issuing additional shares or by an unquoted company obtaining a quotation. An unquoted company may also wish to issue shares without being floated. Placing or Selective Marketing’s:-This method is often used for a company wishing to be floated for the first time and to issue a small issue, or by a quoted company wishing to raise additional finance. It involves securities' acquisition by a market-maker so that they can be purchased by a small number of investors. Offer For sale. This is where the company which is issuing the shares will offer the shares to an issuing house. Generally a merchant bank will act as an issuing house. The shares bought over by the issuing house will be re issued to the general public.Under this method the company which is issuing the shares can make use of the financial strength and the image of the issuing house to make. Normally the shares are offered at a fixed price determined by the company’s directors and their financial advisers. This is usually undertaken by the organization who is offering for the first time and a large issue. This is also known as public offer. The issue price should be low enough to be attractive to potential investors, but high enough to allow the required finance to be raised without the issue of more shares than necessary. PlacingThis is where the company which is carrying out the share issue will select large institutional investors and offer the shares by conducting â€Å"road shows†. A road show is where the company will conduct a presentation to educate the selected investors about the share issue. This will be a low cost method of issuing the shares. Some of the institutional investors who will be interested in the share issue will include pension funds, unit trusts, venture capital organizations, building societies. The shares are issued at a fixed price to a number of institutional investors who are approached by the broker before the issue takes place.Instead of engaging in advertising to the population at large, the sponsor or broker handling the issue sells the shares to its own private clients. The costs of this method are considerably lower than those of an offer for sale. There are lower publicity costs and legal costs. A drawback of this method is that the spread of shareholders isgoing to be more limited. Sale by tender This is where the company which is issuing the shares will call upon the investors to bid the price at which they are willing to buy the shares.Therefore each individual investor will indicate the quantity of shares they expect to buy and price they are willing to pay. The company should decide upon a price at which all the shares can be issued and collect the highest possible revenue. This price will be called the strike price. Investors who bid a price above this will be allocated shares at the strike price – not at the price of their bid. Those who bid below the strike price will not receive any shares. This method is u seful in situations where it is very ifficult to value a company, for instance, where there is no comparable company already listed or where the level of demand may be difficult to assess. It is more costly to administer and many investors will be put off by being handed the onerous task of estimating the share’s value. Short Term Finance:- Securitization:- The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors. The process can encompass any type of financial asset and promotes liquidity in the marketplaceRight issue The term right issue is applied to the system of issuing shares to existing shareholders usually at a discount from the market price in order to raise further capital from existing shareholders. The offer must be on a right basis in proportion to the members existing holding as a fraction of holdings of all members eligible to receive the offer. The rights of shareholders to buy the rights are known as pre-emptive rights. Calculation of issue price. This is the amount that company wishes to raise from the issue divided by the number of new shares.It is important to issue a sufficient number of shares so that the issue price is below current market price. Calculation of price after issue: ?Ex right price ?Actual price after issue †¢At current earnings †¢At lower earnings †¢At higher earnings Values of rights: The value is the difference between the price of the right shares and the ex-right shares. Other methods: ?Subscription offers: An offer for subscription is an invitation to the public by or on the behalf of an issuer to subscribe for securities not yet issued or allotted. ?Prospectus issue:If reasonably substantial the company might make an issue direct to the public with the absolute minimum of assistance from the outside source. It is rather unusual because of the complexity of the nature of the capital issue. ?Stock exchange introduction This is the introduction of the shares on the stock exchange so that a quotation can be fixed, rather than the issue of shares. ?Role of underwriters Under writers agree to purchase any securities not taken up at the issue price and will charge a fixed face for their service. Use of underwriters removes the risk of share issue being under subscribed. Open offers: This is an offer to existing shareholders to subscribe for securities. Whether or not pro rata to their existing shareholders. They are not allotted through the issue of renounceable documents. ?Vendor share scheme or placing: Where a vendor prefers cash to shares issued to finance an acquisition by a purchaser, an issuing house can place the securities with clients for cash. ?Exchanges and conversions: This is the process used to replace one security with another. E. g. ; a vendor consideration issue or paper issue used in a merger or takeover bid. Employee share schemes: Such e mployees are often used as incentives, e. g. ; share option schemes which give certain employees the chance to purchase shares in the company at a price determined in advance hopefully for a financial benefit. The firm should consider the following factors when pricing shares for a stock market quotation: †¢The current and future market conditions and the firm’s results. †¢P/E of similar quoted companies. †¢Whether the quotation is to be on the main market or the AIM. †¢An initial premium on launch, followed by steady growth in the share price is desirable. The amount of finance required. †¢Future dividends and earnings forecasts (the more shares the more dividends need to be paid out). †¢Underwriting costs or deep discount required to avoid under subscription of shares. Costs of share issues: The costs involved in share issues include †¢The stock exchange listing fee for the new securities. †¢Fees of advisors including those of the iss uing house. †¢Underwriting costs. †¢The compulsory advertising in national newspapers. †¢Printing and distribution costs of details and prospectus. Issuing new shares without raising capital: Scrip issues/ capitalization / bonus issue: It involves conversion of reserves into capital causing a fall in the reserves. Shareholders receive additional shares in proportion to their holding. The shareholders do not pay for the shares. This results in more equity in circulation with the result that the market value will generally fall in the short term. This making it more attractive to potential investors. ?Scrip dividends: It is a conversional of profit reserves into issued share capital offered to shareholders in lieu of cash dividend.Enhanced scrip dividends are those where the value of shares is greater than cash dividend offered as an alternative. ?Stock split; It is the splitting of existing shares into smaller shares, in order to improve the marketability of the compan y’s shares. Share repurchase: Repurchases or buy-ins of shares may be made by companies out of their distributable profits or out of the proceeds of a new issue of share made especially for the purpose; provided than are authorized to do so in the company’s articles of association.And off- market purchase is said to occur when the shares are purchased not subjected to the marketing arrangements of the stock exchange or other than on a recognized stock exchange. Advantages: †¢It may allow a company to prevent a takeover bid. The control by the existing shareholder group will be increased. †¢A quoted company may purchase its share in order to withdraw from the stock market. †¢It can be a useful way of using surplus cash. †¢Repurchasing shares will reduce the number in circulation which should allow an increase in earnings and dividends per share and should lead to a higher share price.It will increase future EPS as future profits will be earned by few er shares. †¢Reducing the level of equity will increase the gearing level for a company with debt which may be considered beneficial by the company. †¢If a business is in decline a share repurchase may give the firm’s equity a more appropriate level. Disadvantages: †¢Repurchasing of shares may be viewed as a failure by the company to manage the funds profitably for shareholders. †¢The company requires cash for the repurchase. †¢It may be difficult to fix a price which is beneficial to all involved. It requires existing shareholders approval. †¢Capital gains tax may be payable by those shareholders from whom the shares are purchased. †¢It increases gearing. Debt and other forms of loan capital: Debt capital is borrowing fund from others or public with issuing securities, bond, it is cheaper than cost of equity this is largely use from the high cost of equity. Debentures A debenture is a document that either creates a debt or acknowledges it, and it is a debt without collateral. In corporate finance, the term is used for a medium- to long-term debt instrument used by large companies to borrow money.In some countries the term is used interchangeably with bond, loan stock or note. A debenture is thus like a certificate of loan or a loan bond evidencing the fact that the company is liable to pay a specified amount with interest and although the money raised by the debentures becomes a part of the company’s capital structure, it does not become share capital Features of debentures ?Debenture holders are not the owners of the company. They are considered the creditors of the corporation or in other words, the company borrows money from them through issuing debenture. No voting rights. The debenture-holder is not a shareholder and cannot vote in the company's general meetings. ?Fixed rate of interest. A debenture with a fixed charge has a fixed rate of interest. It can be presented as â€Å"10% Debenture†. They a re always unsecured and earns a fixed rate of interest but has no share of the profit. ?Compulsory payment of interest. The interest on debenture is payable irrespective of whether there are profits made or not. Mortgage A mortgage represents a loan or lien on a property house that has to be paid over a specified period of time.Think of it as your personal guarantee that you'll repay the money you've borrowed to buy your home. Mortgages come in many different shapes and sizes, each with its own advantages and disadvantages. Make sure you select the mortgage that is right for you, your future plans, and your financial picture Convertible loan stock A loan to a company in the form of bonds that can later be exchanged for shares under certain conditions. Investor Advantages In a convertible debt agreement, investors are viewed as creditors of the start-up business. This is advantageous if the company liquidates or goes bankrupt.Note holders are shown preferential treatment when the com pany's assets are divided. As the note is secured against the borrower's assets, an investor may feel more secure lending using convertible debt than he would through a traditional bank loan. Disadvantages for Borrower In the event that the convertible promissory comes due and it is not converted to equity or stock, the note still remains payable when the lender calls it in. The note is taken out against the company's assets, and the lender has the right to liquidate the assets to get his money.This can put a company in dire financial straits Warrants †¢Warrants give the holder the right to subscribe for a specified number of shares at a fixed price during as at the end of a specified time period. †¢Warrants are rights given to investors allowing them to buy new shares in a company at a future date at a fixed given price. †¢The price is known as exercise price. †¢The time at which they can be used to obtain shares is known as exercise period. †¢The warrant c onversion premium is calculated by comparing the cost of purchasing a share using the warrant and the current share price. BondsThe long term contract in which the bondholders lend money to a company. In return the company promises to pay the bond owners a series of interest payments known as coupons until the bond matures. At maturity the bondholder receives a specified principal sum called the par value of the bond. The increase or decrease in the market prices of a bond doesn’t affect the return. The investor only gets back the nominal value of the bond. Licensing and franchising This allow for the acquisition of a product, service or business concept of another organization, without the purchase of the other entity as a whole.In this an initial payment is required by the provider and also the royalties on subsequent sales, in return for marketing in an exclusive territory. Syndicated loans For large loans a single bank may not be able or willing to lend the whole amount. So they spread their lending to gain the risk reducing benefits of diversification. They prefer to participate in a number of syndicated loans in which a few banks each contribute a portion of the overall loan. It generally offers lower returns than bonds. And they are paid out before bond holders in the event of liquidation.Mezzanine finance Offering a high return with a high risk. The finance it provides is cheaper (in terms of required return) than would be available on the equity market and it allows the owners of a business to raise large sum of money without sacrificing control. It is used when the limits of bank borrowing has been reached and the business cannot or is not willing to issue any more equity capital. Medium term notes The company promises to pay the holders a certain sum on the maturity date, and in many cases a coupon interest in the period of time. And it may be unsecured.The interest rates may be fixed, floating or zero rate. Project finance Deal is mainly cre ated by industry corporations providing some equity for those who build and operate a project. The significant feature is that the loan returns are tied to the cash flows and fortunes of a particular project rather than being secured against the parent firms assets. For project finance, while the parent company s credit standing is a factor. The main focus is on the financial prospects of the project itself. And it is used to finance power plants, roads, ports, sewage facilities, telecommunications etc. nd the main advantage is that the finance is raised on the projects assets and cash flows and therefore is not recorded as debt in the parent company s balance sheet. Sale and leaseback If a firm owns buildings, land or equipment it may be possible to sell these to another firm and agree to lease the property back for a stated period under specific terms. Hire purchase The finance house allows the hirer firm to use the equipment in return for a series of regular payments. These payme nts are sufficient to cover interest and contribute to paying off the principal.After all payments have been made then the hirer becomes the owner. The main advantage for the customer is that interest part of the payments are allowable against tax, and capital allowances can be claimed on the asset. Leasing It’s similar to hire purchase. Here also the owner converts the right to use the equipment in return for regular rental payments by the user over an agreed period of time. Here the difference is that the lessee never becomes the owner. Operating lease Commit the lessee to only a short term contract. And don’t have to be reported on the face of the statement of financial position.They will not be included in gearing calculations. And liability of future rentals is reported as a note to the accounts. This is mainly useful for lessee in the case of high technology products which are quickly obsolete. Finance lease It is also called capital lease or full payment lease. The finance provider expects to recover the full cost of the equipment plus interest over the period of the lease. And the lessee has no right to cancellation. The lessee will have to bear the risks and rewards that normally go with ownership. And he will usually be responsible for maintenance, insurance and repairs.It is reported on the face of the statement of financial position. Short Term Finance Securitization: The process whereby companies, instead of raising finance by borrowing from financial institutions, Converts assets into securities for sale in the marketplace. This may be allowed in the lower interest rates. Note Issuance Facilities (NIFs) and Revolving Underwriting Facilities (RUFs):- The NIF acts as an underwriter. Should the borrower be unable to sell all notes, the syndicate is obligated to purchase all the remaining notes from the borrower, essentially providing credit.Note issuance facilities are useful in reducing risk and costs for both the borrower and the len der. A RUF differs from a note issuance facility (NIF) in that the underwriters provide loans instead of purchasing the outstanding notes that failed to sell. In either case, both RUF and NIF provide short- to medium-term credit in the Eurocurrency market. Commercial Paper :-(CP) An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities.Maturities on commercial paper rarely range any longer than 270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates. One example is where the company issues six month dollar notes in the European Commercial Paper Market (ECP). Medium-term notes (MTN) Range in maturity from one to 10 years. By knowing that a note is medium term, investors have an idea of what its maturity will be when they compare its price to that of other fixed-income securities.All else being equal, the coupon rate on medium-term notes w ill be higher than those achieved on short-term notes. The use of CPs and MTNs is limited in that a minimum size of company and issue restricts it to large companies, multinationals and certain public sector bodies, and they are driven by the demand of investors. Syndicated Credits:- The main goal of syndicated lending is to spread the risk of a borrower default across multiple lenders (such as banks) or institutional investors like pension’s funds and hedge funds.Because syndicated loans tend to be much larger than standard bank loans, the risk of even one borrower defaulting could cripple a single lender. Syndicated loans are also used in the leveraged buyout community to fund large corporate takeovers with primarily debt funding. Banks:- Bank lending to companies is predominantly short term, although it is also now a valuable source of medium term finance. a)Bank loans:- A short-term loan is a fixed amount of debt finance borrowed by a company from a bank, with repayment t o be made in the near future, for example after one year.The company pays interest on the loan at either a fixed or a floating rate at regular intervals, for example quarterly. A short-term bank loan is less flexible than an overdraft, since the full amount of the loan must be borrowed over the loan period and the company takes on the commitment to pay interest on this amount, whereas with an overdraft interest is only paid on the amount borrowed, not on the agreed overdraft limit. The interest rate for small companies on medium-term loans may either be at a fixed rate or at a margin above the bank's base rate.For larger companies, the interest rate on medium-term loans may again be fixed for up to five years, but is usually at a margin above the London Inter-Bank Offered Rate (LIBOR) adjusted every three, six, nine or twelve months in line with LIBOR movements. b)Overdraft:- An overdraft is an agreement by a bank to allow a company to borrow up to a certain limit without the need f or further discussion. The company will borrow as much or as little as it needs up to the overdraft limit and the bank will charge daily interest at a variable rate on the debt outstanding.The bank may also require security or collaterals protection against the risk of non-payment by the company. An overdraft is a flexible source of finance in that a company only uses it when the need arises. However, an overdraft is technically repayable on demand, even though a bank is likely in practice to give warning of its intention to withdraw agreed overdraft facilities. Overdrafts are often the ideal solution for short term borrowing and are extensively used to overcome short term cash flow problems, such as for funding purchase of raw materials whilst waiting payment on goods produced.There is no penalty for repayment of an overdraft, unlike (usually) the early repayment of a medium-term loan. The bank, though, can demand the repayment of an overdraft atany time, and many businesses have b een forced to cease trading because of the withdrawal of overdraft facilities by their bank. The advantages of an overdraft facility with the bank are that: †¢It provides flexibility. †¢It is a relatively cheap from of finance. †¢Interest is charged on the daily balance. The major drawback of an overdraft is that the bank can withdraw the overdraft facility at short notice.Trade Credit:- Trade credit is an agreement to take payment for goods and services at a later date than that on which the goods and services are supplied to the consuming company. It is common to find one, two or even three months’ credit being offered on commercial transactions and trade credit is a major source of short-term finance for most companies. The advantages of trade credit is that it is a relatively convenient, cheap and informal way of securing short term finance and is available to companies of all sizes. Factoring:-A financing method in which a business owner sells accounts rec eivable at a discount to a third-party funding source to raise capital. Factoring is the cash-management tool of choice for many companies. It is one of the most expensive forms of financing. The way it works is as follows: †¢Once a sale is made, the company invoices its customer and sends a copy of the invoice to the factor. †¢The factor then pays the company a set proportion of the invoice value within a pre-arranged time –typically, most factors offer 80-85% of an invoice's value within 24 hours. †¢The factor issues statements on the company's behalf and collects the payments.However, the company remains responsible for reimbursing the factor for bad debts, unless a â€Å"non-recourse† facility has been arranged. †¢The company will receive the balance of the invoice (less charges) once the factor receives payment. †¢The factor provides regular reports on the status of the company's sales ledger Typical charges on the amount financed range fr om 1% to 4% over base rate, with interest calculated on a daily basis. Credit management and administration charges, including the maintenance of the sales ledger, depend on turnover, the volume and number of invoices. Typical fees range from 0. 0% to 3. 0% of annual turnover –a company with 50 live customers, 1,000 invoices per year and ? 1 million turnover might pay 1%. Advantage:- †¢Cash flow is maximized as factoring enables a company to raise up to 80% or more on outstanding invoices †¢Using a factor can reduce the time and money spent on debt collection since the factor will usually run the sales ledger for the company †¢The factor's own credit control system can be used to help assess the creditworthiness of new and existing customers †¢Factoring can be an efficient way to minimize the cost and risk of doing business overseas Disadvantage:- The factor usually takes over the maintenance of the sales ledger, and customers may prefer to deal with the c ompany it is trading with rather than a factor †¢Factoring may impose constraints on the way business is conducted –for example, the factor will apply credit limits to individual customers and for non-recourse factoring, most factors will want to pre-approve customers, which may cause delays †¢The client company might only want the finance arrangements and yet it might feel it is paying for collection services they do not really need †¢Ending a factoring arrangement can be difficult where the only exit route is to repurchase the sales ledger or to switch factors and that could cause a sudden shortfall in working capital. Invoice Discounting:- A method to draw loans from a company’s outstanding invoices that does not require the company to relinquish administrative control of the invoices. An invoice discounting company will review the outstanding invoices on the company's ledger, and will determine the amount of loans that it will extend. Because the mon ey is loaned, the company will be responsible for interest payments, as well as a fee to the invoice discounting company. The requirements are more stringent than for factoring and different invoice discounters will impose different requirements. ‘Confidential invoice discounting† ensures that customers do not know a company is using invoice discounting as the client company sends out invoices and statements as usual. However, the costs of this are greater since the discounter is carrying a greater degree of risk. Bills of Exchange:- Bills of exchange are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by individual s, they can be referred to as trade drafts. International capital marketsThere is an increasing internationalization of capital markets, especially for the larger companies. Eurocurrency:- Currency deposited by national governments or corporations in banks outside their home market. This applies to any currency and to banks in any country. For example, South Korean won deposited at a bank in South Africa, is considered Eurocurrency. The market generally offers high rates of interest, flexibility of maturities and a wide range of investment qualities in comparison with other capital markets. The unique feature is that the transactions in each currency take place outside the country from which that currency originates.On the short-term, inter-bank Eurocurrency market, transactions may take place between banks on an unsecured basis from overnight to five years' duration. Most transactions are for six months or less and transaction of over ? 1m is common. Eurobonds:- The Eurobond market is an international capital market which has developed alongside the Eurodollar market since the 1960s. Usually, a Eurobond is issued by an international syndicate and categorized according to the currency in which it is denominated. A Eurodollar bond that is denominated in U. S. dollars and issued in Japan by an Australian company would be an example of a Eurobond. The Australian company in this example could issue the Eurodollar bond in any country other than the U. S. A bond issued in a currency other than the currency of the country or market in which it is issued. ) The following advantages are claimed for the Euromarkets in various currencies: †¢Extremely large sums can be raised or deposited. †¢Money will often be cheaper than the domestic markets. †¢Controls tend to be less restrictive. †¢Some protection against exchange rate movements is offered, but here the user will require a high level of skill in selecting his or her alternatives. †¢ Any perio d of surplus or shortage from one day to five years can be accommodated. †¢The markets offer a useful alternative to other sources of capital which the company Eurobonds Available:- †¢Straight fixed rate bondsThe majority of Eurobonds with a fixed coupon can be described thus. Interest is generally paid out once each year and is calculated using a 360-day year. Some older issues do pay half-annually. †¢Equity related bonds These may take two forms: Convertibles–whereby the bond holder has the right (but not the obligation) to Convert the bond into ordinary shares at a pre-determined price. Eurobonds with warrants–which are similar to convertible bonds in that warrants are attached to the Eurobond enabling the holder to purchase ordinary shares represented by the warrants at, or between, specified dates. The exercise price will be set in a similar fashion to that of convertible Eurobonds. †¢Floating rate notes (FRNs)A note with a variable interest ra te. The adjustments to the interest rate are usually made every six months and are tied to a certain money-market index. Also known as a â€Å"floater†. Borrowing in the Euromarkets;- Borrowers in the Euromarkets include: †¢Companies needing dollars for investment in the USA. †¢Unit trusts and investment trusts investing in foreign securities. †¢The United States banks, which find that it is expedient to take up loans through the European market rather than to borrow in the USA. †¢Multinational companies wishing to invest in a particular country without wishing, or being able, to transfer capital from their base country. National governments and bodies associated with national and international agencies. Euro equity:- An Initial Public Offer occurring simultaneously in two different countries. The company’s shares are listed in various countries rather than where the company is based. Choice of Currency for Borrowing The factors affecting the choice of currency used for company borrowing include: †¢The ease and speed of raising finance, which is often easier outside the domestic markets. †¢The size of the debt –larger loans tend to be borrowed in the Euromarkets. †¢The cost of issues –small changes in interest rates can have a significant impact if the loan is large. Whether the currency is required immediately (including coverage in preventing exchange exposure) and in the long run. †¢The security the company has available –Euro borrowings are generally unsecured. Advantages of Raising Funds in International Markets:- There are several advantages to the company in raising funds in international markets, including: †¢It is useful if the company's own capital market is too small, or too complex and/or regulated to raise the required finance quickly and easily. †¢It improves the liquidity and reputation of the company. †¢It may improve trade if the company trades in the cou ntry of the currency/capital market. †¢It can help in preventing takeover bids.

Irony Essay

Both â€Å"The Necklace† and â€Å"The Gift of the Magi† have plots that depend in large measure on the use of situational irony to create a surprise ending. â€Å"The Necklace† tells the story of Madame Mathilde Loise, a lowly clerk’s wife, who, in an effort to appear more debonaire than she is, borrows expensive jewels from Madame Jeanne Forestier, a wealthy friend. After the inevitable loss of the jewels, Madame Loisel and her husband secretly replace the jewels. Years later, Madame Loise, now impoverished, encounters Madame Forestier on the streets of Paris and admits to the secret. Madame Forestier, shocked by the change in Loise, explains that the necklace was merely costume jewelry. The situational irony that both the reader and Madame Loise experience simultaneously is the twist, the unexpected turn of events that is both a perfect example of irony and the very element that makes the plot so original and memorable. Similarly, â€Å"The Gift of the Magi† employs irony to provide the unexpected ending. A young couple, barely able to feed and house themselves, sells their most valuable possessions to buy presents for each other. In an ironic catch typical of O’Henry, Della sells her hair to buy a watch fob for Jim, her husband. Jim, in turn has secretly sold his watch to buy the tortoise-shell combs Della dreamed of running through her long, dark hair. The story makes use of both dramatic irony and situational irony to create the literally-doubly ironic ending: both â€Å"sacrifice for each other the greatest treasures of their house. †

Free Essays on The Love Song of J. Alfred Prufrock

â€Å"The Love Song of J. Alfred Prufrock† is an extraordinary masterpiece by T.S. Eliot. Eliot may possibly give us the essence of twenty-first century poetry. Through the â€Å"Love Song,† Eliot expresses exuberant writing technique via random comments deposited together. Certainly much of what he writes is unrecognizably queer, but it is all emphatically amusing. One cannot pretend to follow the drift of "The Love Song of J. Alfred Prufrock," however every aspect woven together reveals the direct message. â€Å"The Love Song of J. Alfred Prufrock† is a lovely piece of poetry written to describe a young man’s attempt to find a common point with his date. The sentences are not at all lengthy. The verbiage might be somewhere around the lower collegiate level with understandable confusion. The stanzas hold no structure rather that the dawning and closure of each thought. This poem is composed in blank verse. Eliot is one of those clever men who find it amusing to pull the leg of a temperate reader. Rather than simply stating that two young people are out on their first date, Eliot finds the most roundabout way to explain just that. As the poem progresses, Eliot has the male counterpart rambling about while the female seems to show no interest. The young man expresses thought on a variety of themes, ranging from his appearance to classic literature to death. At the conclusion of the poem, it is distinct that the lady has exhaustively lost interest in her engagement. Through the â€Å"Love Song,† one might get the impression that all first dates go bad. However, the theme of this poem is that finding a point of joint concern might not always transpire in a fresh relationship. This could also be an explanation on how not to go about a first date. â€Å"The Love Song of J. Alfred Prufrock† explained the turmoil around courting in the early twentieth century. As in the day it was written the â€Å"Love Song† also has an effect on the â€Å"clicki... Free Essays on The Love Song Of J. Alfred Prufrock Free Essays on The Love Song Of J. Alfred Prufrock â€Å"The Love Song of J. Alfred Prufrock† is an extraordinary masterpiece by T.S. Eliot. Eliot may possibly give us the essence of twenty-first century poetry. Through the â€Å"Love Song,† Eliot expresses exuberant writing technique via random comments deposited together. Certainly much of what he writes is unrecognizably queer, but it is all emphatically amusing. One cannot pretend to follow the drift of "The Love Song of J. Alfred Prufrock," however every aspect woven together reveals the direct message. â€Å"The Love Song of J. Alfred Prufrock† is a lovely piece of poetry written to describe a young man’s attempt to find a common point with his date. The sentences are not at all lengthy. The verbiage might be somewhere around the lower collegiate level with understandable confusion. The stanzas hold no structure rather that the dawning and closure of each thought. This poem is composed in blank verse. Eliot is one of those clever men who find it amusing to pull the leg of a temperate reader. Rather than simply stating that two young people are out on their first date, Eliot finds the most roundabout way to explain just that. As the poem progresses, Eliot has the male counterpart rambling about while the female seems to show no interest. The young man expresses thought on a variety of themes, ranging from his appearance to classic literature to death. At the conclusion of the poem, it is distinct that the lady has exhaustively lost interest in her engagement. Through the â€Å"Love Song,† one might get the impression that all first dates go bad. However, the theme of this poem is that finding a point of joint concern might not always transpire in a fresh relationship. This could also be an explanation on how not to go about a first date. â€Å"The Love Song of J. Alfred Prufrock† explained the turmoil around courting in the early twentieth century. As in the day it was written the â€Å"Love Song† also has an effect on the â€Å"clicki... Free Essays on The Love Song of J. Alfred Prufrock Philosophers recognize the harmony and duality of the universe with symbols like Ying and Yang. The title character in T.S. Eliot’’s poem, â€Å"â€Å"The Love Song of J. Alfred Prufrock,†Ã¢â‚¬  has not. The poem is an internal monologue where Prufrock reveals himself as lonely and timid. Prufrock is a man in conflict with his duality, the society he has to live in, and the long lost dreams of his youth. Hot and cold, fire and water; duality is part of nature. Prufrock is not in harmony with his two sides. On the surface Prufrock is like a field mouse, frozen by fear who asks, â€Å"â€Å"Do I dare? And Do I dare?†Ã¢â‚¬  Inside is a tiger that knows there is time to murder and create. Prufrock is a tiger in the body of a field mouse. Prufrock’’s field mouse is what society sees. Instead of cats and owls, ridicule and rejection are his natural enemies. Prufrock fears he is not able to meet society’’s standard. He fears societ y will have him â€Å"â€Å"pinned and wriggling on the wall.†Ã¢â‚¬  J. Alfred Prufrock is afraid, not only of what they will say, but how society will look at him. Prufrock’’s inner tiger wants to ride â€Å"â€Å"seaward on the waves†Ã¢â‚¬  and experience the passion of his youth. He is aroused by the perfume from a dress, but is held back by fear. Now, he only dreams of â€Å"â€Å"one night cheap hotels,†Ã¢â‚¬  because he knows those times are past. He has seen his life pass by, teaspoon by teaspoon, and knows death is waiting; laughing at a life half lived. Some use the sun to measure days; Prufrock uses a coffee spoon. No longer the man he was, and unable to deal with the man he has become, Prufrock can not coexist with himself or society. The poem, an internal monologue, reveals the timidity and loneliness of J. Alfred Prufrock....

Punctuation with Attribution

Punctuation with Attribution Punctuation with Attribution Punctuation with Attribution By Mark Nichol An attribution is a phrase that describes who said or wrote something. It is stated parenthetically before, in the midst of, or after a statement or question (it is basically an introductory phrase that can be located elsewhere than at the head of a sentence), but writers often erroneously omit a comma required to help frame the attribution. The following sentences illustrate variations in this type of error, and discussion and revision following each one explains and demonstrates correct treatment. 1. In the future, Smith says she looks forward to having her team work more with data analytics. Without a comma after says to correspond to the one following future, this sentence appears to awkwardly state that it is known in the present that in the future Smith will say that she looks forward to having her team work with more data analytics. But â€Å"Smith says† is an attribution, so the phrase should be bracketed by a pair of commas: â€Å"In the future, Smith says, she looks forward to having her team work more with data analytics.† 2. As rooftop solar panels become more common, company executives say they need new products that will distinguish the business from its many competitors. The error in this sentence is not as obvious as the one in the previous example. However, the implication here is that the company executives are making a statement at the same time as rooftop solar panels become more common. This may be technically accurate, but it’s not the point of the sentence. â€Å"Company executives say† interrupts the sentence to identify the source of the statement: â€Å"As rooftop solar panels become more common, company executives say, they need new products that will distinguish the business from its many competitors.† 3. There are about 365.25 days in a year according to NASA. Because of the lack of internal punctuation in this sentence, it appears to quantify the number of days in a specific typed of year- one that is according to NASA. An attribution, regardless of whether it precedes, interrupts, or follows a statement, should be set off from that statement. If the attribution appears at the head or tail of the sentence, however, only one comma is necessary to set it off from the main clause: â€Å"There are about 365.25 days in a year, according to NASA.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:20 Great Opening Lines to Inspire the Start of Your Story"Have" vs "Having" in Certain Expressions10 Tips for Clean, Clear Writing

How Does the Executive Branch Check the Judicial Branch

How Does the Executive Branch Check the Judicial Branch SAT / ACT Prep Online Guides and Tips Understanding how the United States government works is critical to succeeding on the AP United States Government and Politics exam. That includes having a solid understanding about how each piece of the federal government works together. One of the key components of this is the checks and balances system, which is where each branch of government checksor limitsthe power of the others. And unfortunately, understanding how those checks work can be a little confusing. That’s where this article comes in. Today, we’re going to investigate how the executive branch of the U.S. government checks the judicial branch. To do this, we’ll: Define the three branches of government Examine how the judicial and executive branches operate Answer the question, â€Å"How does the executive branch check the judicial branch?† So let’s get started! The Three Branches of the United States Government When the United States was founded in 1776, the federal governmentor the government that governs all the states collectivelywas split into three branches with equal power: the executive branch, the judicial branch, and the legislative branch. The idea behind splitting the government into three separate pieces was to make sure no one area of government held too much power. Remember: the United States broke away from England for many complex reasons, but a major factor was how much power the English government had over the original thirteen colonies. It’s no surprise, then, that the founding fathers were concerned about making sure that the federal government of the United States didn’t become as big and powerful as the English monarchy. Their solution was to create a three-part governing system where each branch could limit the power of the others. This is called a checks and balances system, which you can learn more about in our complete guide. For this article, though, let’s take a closer look at two of the three branches of U.S. government and see how the executive branch can check the judicial branch. The Judicial Branch: Definition and Explanation The judicial branch of the federal government is tasked with interpreting the laws, including Constitutional laws, which are created by the legislative branch. This happens through the court system, where attorneys bring cases before a judge (and sometimes jury). When a judge makes a ruling on a case, they are actually interpreting the law. That means they’re reading the laws and determining whether a defendant has actually broken them or not. In some federal cases, judges are actually evaluating the laws themselves to determine if they’re in violation of the constitution! For instance, in the famous case of Brown v. the Board of Education, the U.S. Supreme Court ruled that laws requiring the racial segregation of schools were unconstitutional. The U.S. Supreme Court While the U.S. judicial system is vastthere are both state and federal courts, each with different organizational hierarchiesthey both operate under the Supreme Court of the United States (or SCOTUS). Understanding what the Supreme Court is and how it operates is key to understanding how the executive branch can check the power of the judicial branch. You may have heard of the Supreme Court referred to as â€Å"the highest court in the land.† That’s because it’s the only part of the judicial branch that’s specifically required by the Constitution, though Congress determines the number of justices that serve as part of the Supreme Court. Currently, the court has nine justices, including one Chief Justice. The Supreme Court serves as the final say on all laws in the United States, and it also rules on Constitutional issues, too. The rulings of the Supreme Court directly affect how laws are interpreted, enacted, and upheld across the United States. Some of the most famous court rulings have done things like guarantee defendants the right to an attorney, legalized same-sex marriage, and invalidated laws preventing interracial marriages. So how does someone become a Supreme Court justice? (This is actually pretty important to understanding the executive-judicial checks and balances system.) First, they have to be nominated by the President, or the executive branch of government. The nominee then has to be approved by the majority vote of the Senate, which is a part of the legislative branch of government. Once appointed, justices serve on the court for the rest of their lives or until they voluntarily retire. Federal Appellate Courts But the Supreme Court isn’t the only federal court in the United States. Since the Supreme Court only hears 100 to 150 cases a year, most federal cases are heard and adjudicatedor decidedby the federal appellate courts. When a federal case goes to trial, it is heard in a U.S. District Court. That’s where prosecutors and defendants call witnesses to the stand, provide evidence, and try to prove their cases. After both sides present their cases, a judge or a jury decides whether the defendant is guilty or not guilty. The defendant, however, has the right to appeal the U.S. District Court’s decision. When a case is appealed, it’s heard in appellate court. There are thirteen appellate courts in the United States. Each of the 12 regional circuits of the federal court system has their own appellate court. The 13th court is known as the United States Court of Appeals for the Federal Circuit. Unlike the other appellate courtswhich only adjudicate cases from their regional circuitsthe United States Court of Appeals for the Federal Circuit has nationwide jurisdiction. Its job is to hear appeals on topics like patent law, veterans affairs, and international trade. So what do the appellate courts do? Well, it’s the job of the appellate court is to determine the outcome of an appeal (just as their name implies). Unlike the original trial, which involves hearing testimony and examining evidence, the appellate courts don’t retry cases or hear new evidence. Instead, the case is reviewed by a panel of three judges in order to determine a) whether the defendant received a fair trial and/or b) whether the correct law was applied appropriately. If a defendant wins their appealmeaning, if the appellate court rules in the defendant’s favorthe case goes back to trial court to be heard again. If the appellate court affirms, or upholds, the trial court’s decision, however, the original verdict stands. The appellate court is an important part of the federal court system, and it helps ensure that people receive fair trials. And just like Supreme Court justices, federal judgesincluding the appellate court judgesare appointed by the President of the United States. The Executive Branch: Definition and Explanation The executive branch of the United States government is the branch that makes sure the laws of the United States are obeyed. The executive branch is split into three major groups. The first is the presidency, which we’ll talk about in more depth in just a second. The second group is the U.S. Cabinet, which is a set of advisors appointed by the President to help guide him on issues facing different sectors of the United States. The cabinet is comprised of the Vice President and the heads of the 15 major federal agencies. The third group of the executive branch are the federal agencies themselves, which help enforce laws in different legal and economic areas of the United States. For example, the Department of Labor oversees the American workforce, which includes making sure work environments adhere to federal laws (OSHA) and administering federal disability programs for people who are injured and/or no longer able to work (OWCP). But because the President is the head of the executive branch, it gives them the most power to check the judicial branch. So let’s take a quick look at the powers of the United States presidency. The Presidency The President of the United States has eight major roles within the government of the United States. They are: Chief of State: The President represents the United States to the rest of the world. Chief Executive: The President is the head of the federal government. Commander-In-Chief: The President commands every branch of the armed forces, and generals report to the President. Chief Diplomat: The President sets the United States’ foreign policy and appoints diplomats/ambassadors. Legislative Leader: While the President cannot make laws, they can ask Congress to do so and/or veto existing legislation before it’s passed. Chief Administrator: The President leads the executive branch of government, which includes more than 2.7 civilian employees. The President also appoints people to different roles, which includes appointing federal judges and nominating Supreme Court justices. Chief of Party: While this role isn’t specifically outlined in the Constitution, in modern politics, the President also serves as the head of their political party. Chief Citizen: This role isn’t specifically outlined in the Constitution either, but as Chief Citizen, American citizens expect the President to represent their interests and provide strong leadership. The role that matters most in terms of the executive branch checking the judicial branch is Chief Administrator because it gives them the power to appoint judges to long-serving positions in the justice system. How Does the Executive Branch Check the Judicial Branch? After reading the sections above, you’ve probably realized that the executive branch and judicial branch overlap...which is how the branches check each other’s power. Judicial-Executive Checks on Power Don’t worry, we’re going to get to know how the executive branch checks the judicial branch. But first, we need to take a short detour to explain how the judicial branch checks the executive branch. This will help things make more sense later. Since the judicial branch’s job is to interpret laws, they are constantly weighing in on laws signed into effect by the President (through their executive powers). Additionally, the judicial branch makes sure that the U.S. Constitution isn’t being violated. That means that members and departments of the executive branchincluding the Presidentcan be sued for violating their constitutional authority. For instance, when President Trump declared a state of national emergency to try and fund the building of a border wall, a watchdog group named Public Citizen filed a lawsuit against him. Their suit alleges that President Trump’s actions are unconstitutional, and now it’s the judicial system’s job to determine whether that’s true or not. If they rule against President Trump, it will serve as a check on his executive powers. Nick Youngson/The Blue Diamond Gallery Appointing Federal Judges It might seem as if the judicial branch has all the power over the executive branch. But that isn’t the case! One way the President checks judicial power is through his ability to appoint federal judges. Since the President is the Chief Administrator, it’s his job to appoint court of appeals judges, district court judges, and Supreme Court justices. There are more than 870 federal judgeships today, which means the President has their work cut out for them! It also gives the President quite a bit of power over how the justice system works. That’s because all federal judgeships are life terms, which means that once a judge is appointed, they serve in their position until a) they retire or b) they are impeached and removed from office due to misconduct. Once a judge leaves office, it’s the President’s job to appoint their replacement. That can really add upfor example, over the course of his presidency, former President Barack Obama appointed 334 judges, including two Supreme Court justices. Federal judges are an important part of the judicial process because they have the power of judicial review, which is the authority to interpret the Constitution. When a judge rules on a constitutional issue, their decision becomes legal precedent. Their ruling will now serve as the standard by which similar cases are judged. In fact, once a precedent is set, it’s uncommon for a court to rule against it. When Presidents appoint federal judges, they often consider both a judge’s pedigreeor their qualificationsalong with their position on key political issues. Often, Presidents appoint judges that share their ideas about how laws should work. This helps keep the judiciary in check, especially given that no party has ever held presidential power in the United States for more than 28 years (the Democratic-Republican Party held the presidency from 1801 to 1829). So how does this check judicial power? It means that Presidents can influence the political leanings of the federal court, and since judges serve a lifetime appointment, they can continue to impact the judiciary process long after a President steps down. For example, Judge George C. Young was appointed as a federal trial judge by President John F. Kennedy in 1961...and he served in office until 2015! The President nominates Supreme Court Justices. Justice Sonia Sotomayor was nominated by President Barack Obama. Nominating Supreme Court Justices The President’s ability to appoint federal judges is especially critical when it comes to the Supreme Court. The Supreme Court only hears around 100 to 150 cases a year, but those cases change the ways laws are implemented across the country. For example, the Supreme Court’s ruling on Roe v. Wade in 1973 which made first- and second-trimester abortions legal in all 50 states. That ruling still stands and dictates law today, despite abortion being a hot-button political issue. Like we mentioned earlier, it’s the President’s job to nominate justices to the Supreme Court. The President often nominates judges who align with their political stances on critical issues. Because the Supreme Court is so powerful, the President’s nominations can have lasting impacts on the long-term political leanings of the Court. When the Supreme Court leans more liberal (or more conservative), it can impact how the Court rules on cases. For example, with the appointment of Justice Brett Kavanaugh in 2019, the Supreme Court now leans more conservative. The President’s power This effectively checks the judicial system by ensuring that the makeup of the Supreme Courtand its ideologyshifts from time. Every Thanksgiving, the President pardons a turkey. The President also has the power to pardon people, too. Pardon Power The last way that the executive branch checks the judicial branch is through the power of the pardon. Executive branch officials like state governors and the United States President can overturn convictions by the court. This only counts in cases where the criminal committed a crime against the state (in the case of a Governor’s pardon) or against the United States (in the case of a Presidential pardon). When a criminal is pardoned, their conviction is completely overturned and their record is expunged. That means it’s as if the crime was never committed in the first place! This allows the executive branch to check the judicial branch by ensuring that the judicial branch isn’t using its power unfairly. A good example of how the pardon power checks the judicial branch is the case of Patty Hearst. Patty Hearst was convicted and sentenced to two years in prison for robbing a bank in 1974. But Hearst was also suffering from Stockholm Syndrome. She had been kidnapped and brainwashed by a militant organization months before the bank robbery. In 2001, President Bill Clinton granted her a full pardon, which absolved Hearst from any legal wrongdoing. What's Next? Now that you know more about the executive branch, the judicial branch, and the checks and balances system, it’s time to get to know the AP U.S. Government exam. Here’s our introductory guide to the AP U.S. Government exam that will help get your test prep off on the right foot. Not sure what to study? No problem. Here’s a compilation of the best AP U.S. Government notes to get you started. The AP U.S. Government exam has a section called the free response questions, or FRQs. They’re essentially short essay responses to prompts, and for many students, they’re one of the trickiest parts of the test. That’s why we’ve broken down how to answer them and earn top marks in our FRQ guide! Have friends who also need help with test prep? Share this article! Tweet Ashley Robinson About the Author Ashley Sufflà © Robinson has a Ph.D. in 19th Century English Literature. As a content writer for PrepScholar, Ashley is passionate about giving college-bound students the in-depth information they need to get into the school of their dreams. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. 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Leadership Model Essay Example | Topics and Well Written Essays - 1000 words - 1

Leadership Model - Essay Example However the retention rate has declined recently and management has reinforced Pat to review and improve recruitment process (Northouse, 2013). Pat looks for certain characteristics in every candidate like being responsible and having strong interpersonal skills. He also looks for such candidates who strongly follow ethical principles as confidentiality and observance of fiduciary responsibilities are key factors while working in banks. All of these factors hold significant importance but those are not solely adequate to find right candidates (Northouse, 2013). He misses performance of the incumbents during probation that could serve as a tool fill gaps in recruitment. Pat needs to consider vision, mission and organizational culture while recruiting credit analysts. These broad considerations help to find such candidates who may easily align and merge with the existing groups and teams. The leadership model of Montgomery and Associates may be applicable to find the right traits in the candidates. First, the need is to identify the issue that has arisen over last few years in the process of recruitment and selection. Major issue is high rate of job turnover that costs the organization and it also results in increased burden over existing employees. The first ring in model is courage which means that the conventional processes should be altered in the light of recurring issues. Pat should embrace the change in his traditional method. The model suggests that adequate information and knowledge must be acquired in order to set long term goals to be achieved through recruitment. Senior management has raised concerns over increased rate of turnover as it wastes the incurred training costs and time. The employees are overburdened and hence overall organizational productivity suffers. Current recruitment criteria of Pat is to look for the candidates who have good command on computer and have sound technical and analytical skills. He recruits the

Mark Twain used the term Gilded Age for 1870 to 1890 Essay

Mark Twain used the term Gilded Age for 1870 to 1890 - Essay Example He has undertaken investigative process pertaining to the assessment of the different facets. He has assessed the social aspect of the American society, the political pillar and the institutions, their overall outlook, their affectivity, the presence and the parallel absence of institutions in United States of America. This also includes the comparison with the other parts of the world, notably France and Great Britain. All these have been put up in a satirical manner. Administratively the entire nation’s budget netted to a meager amount of 500 million dollars(twain).The expression Gilded state has been used in irony. The tracing of lexical meaning of the word Gilded is being pretentious and outwardly shinning and attractive. The same principle and phenomena has been presented by Mark Twain in his study and assessment of the American nation. Mark Twain was born in 1835 near Florida (Twain). He has referred to the American nation in a broader way as a Gild state. That is outwar dly and pretentiously attractive yet from inside it is marred with all kinds of miseries, troubles and issues within.On social front, the country and its people were fresh from a civil war that had plagued the roots of the nation and its society. It was fresh from the bleeding of over around 600,000 citizens. The people were segmented within with regard to the acceptance for one another. The Southern part was gulfed from the other parts of the country and had little feeling of benevolence for one another.

The Mozart Effect Annotated Bibliography Essay Example | Topics and Well Written Essays - 2500 words

The Mozart Effect Annotated Bibliography - Essay Example The video also employed the talents of a researcher and annotator who did live recreations of versions of the tests, where subjects chosen at random in a public place were subjected to Mozart music and to music from Blur and then made to undergo the battery of cognitive tests that included solving puzzles, testing reaction times to falling rulers, and tests of memory, among others The findings in the public tests were in congruence with the findings in other studies that state that there is nothing in Mozart music that is special, even though Mozart music did indeed boost subject performance in cognitive tests. This is the conclusion because music by Blur also had the same effect. The baseline was silence. In both cases where subjects were first subjected to silence and then to either Mozart or Blur music, there were observed improvements in the performance of the subjects to the tests. The final caveat is that the performance boosts occurred after listening to the music, and that th e performance boosts were short-lived. The video in all is a good general overview of the nature of the Mozart effect tests and the kinds of challenges that have been made to it over the years (Applasamy, 2012). Bangerter, A. and Heath, C. 2004. The Mozart Effect: Tracking the evolution of a scientific legend. British Journal of Social Psychology (2004). [Online]. Available at: https://www.gsb.stanford.edu/sites/default/files/documents/BJSP,%20Mozart%20Effect.pdf [Accessed 26 November 2013] Demorest, S. and Morrison, S. 2000. Does Music Make You Smarter? Music Educators Journal 87 (2). Green, C.S and Bavelier, D. 2008. Exercising Your Brain: A Review of Human Brain Plasticity and Training-Induced Learning. Psychology and Aging 23 (4). [Online]. Available at: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2896818/ [Accessed 26 November 2013] Husain, G., Thompson, W. and Schellenberg, E. 2002. Effects of Musical Tempo and Mode on Arousal, Mood and Spatial Abilities. Music Perception 20 ( 2). [Online]. Available at: http://www.psych.utoronto.ca/users/ghusain/Publications_files/GH2002Mozart%20effect.pdf [Accessed 26 November 2013] Jausovec, N., Jausovec, K. and Gerlic, I. 2006. The influence of Mozart’s music on brain activity in the process of learning. Clinical Neuropsychology 117. Jenkins, J.S. 2001. The Mozart Effect. Journal of the Royal Society of Medicine 94 (4). [Online]. Available at: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1281386/ [Accessed 26 November 2013] Lubetzky, R. 2010. Effect of Music by Mozart on Energy Expenditure in Growing Preterm Infants. Pediatrics 125 (1). [Online]. Available at: http://www.pediatricsdigest.mobi/content/125/1/e24.full [Accessed 26 November 2013] Makielo, L. 2012. The Mozart Effect. The Epoch Times. [Online]. Available at: http://epoch-archive.com/a1/en/sg/nnn/2012/01%20January_2012/Issue%20395_17_January_2012/395_B4.pdf [Accessed 26 November 2013] Nantais, K.

Developing Professional Practice and Using Information in HR Essay - 1

Developing Professional Practice and Using Information in HR - Essay Example According to the discussion human resource managers are well aware of the potential of the employees working in the firm, they are in a better position to decide on behalf of the employees instead of the top management. Top management is just concerned mainly with the profitability and productivity of the firm, the other aspects are handled by the human resource management.From this paper it is clear that at the present time, it is vital for the business organisations to understand the pre-requisites of these professionals and provide them with the mandatory resources for efficient management of the entire workforce.   When any department is equipped with all the necessary resource needed for doing the job effectively, along with the required technology, then there stands a good chance that all work operation run smoothly. Talent and skills go hand in hand with the required resources for delivering exemplary performance.  The key social trends identified in the Davidsons case are creating the employment issues because the females lack the required set of expertise and capabilities to perform the obligatory tasks. Majority of the employees are willing to work as part-time as they want to avail various opportunities of earning sufficient amount of money. Since the customers’ complaints have increased as well, it shows that the employees need to develop their working abilities so that they can achieve their performance goals. Customer complaints are not a good sign and hence employee performances need to be reviewed to ensure that things are working in the right direction. As the employees are given wages below the industry standards at Davidsons, they are looking for new jobs in other supermarkets. All employees interact with other employees in the same

Addiction From Historical Perspective Essay Example | Topics and Well Written Essays - 750 words

Addiction From Historical Perspective - Essay Example The story of drug addiction actually begins with the opium wars in China and the fight between the Chinese and the English. The English actually brought opium to China as a way to trade something to them that China did not have and to have an alternative to using silver. In 1839, opium had been outlawed by the government of China to only be used for medicine. However, the British were able to purchase cheap opium and bring it into the country through the British East India Company (Allingham, 2006). Suddenly opium was available everywhere and although it started out as something that only the rich could afford, it quickly spread to about 90% of males under the age of 40 in the coastal regions of China. This had a direct impact on business, civil service and the standard of living; they all were falling apart (Allingham, 2006). Lin Ze-xu (1785-1850), the then appointed anti-opium commissioner estimated that about four million people were addicted to opium; however, a British physician working in the area stated that the addiction was more likely to be 12 million (Allingham, 2006). By 1837, opium was a larger import than any other traded commodity. Wars broke out over the sale and use of opium because of the trade laws that were enacted upon the British. By 1773, opium was traded globally but the British Governor-General of Bengal created a monopoly on the sale of opium and continued to sell Indian opium to China regardless of the rules that China had established for trade. By 1797, opium was eliminated in Bengal, but by the late 19th century, Bengal’s opium was being grown, processed and exported in Bengal (McCoy, n.d.). Alcohol Addiction Begins to be Seen More Often Although alcoholism goes back to biblical days, it has always depended on social trends. Usually, alcohol was a part of every ceremony and every culture. Alcohol was used during the colonial period and was used both as a beverage and as a medicine. The early colonists allowed drunkenness as l ong as it did not interfere with an individual’s ability to work and make a living (Anonymous, 2009). By the mid to late 19th Century, people stopped trying to control the individual’s behavior to trying to control the consumption of alcohol. As social problems like crime and poverty began to take its toll on the society at large, the social reform movement began to attempt to stop the sale of alcohol. Most people will remember that the Temperance Movement was set to eliminate all of alcohol but of course this did not work because people continued to make their own alcohol. By 1930s, American â€Å"alcohol science† was recreated and in this decade Alcoholics Anonymous had also begun (â€Å"History†, 2009). The Use of Patent Medicine The use of patent medicines during the 18th and early 19th Century was a precursor to drug regulations. These first medicines had substances like cocaine or heroin in them and the consumers who bought them did not know that th ese drugs could harm them. Patent medicines were sold as elixirs and tonics that could cure many illnesses whether the consumer was an adult, a child or an infant (Drug Addiction, 2010). Many of these medicines were said to cure tuberculosis and arthritis and many people began to take these remedies which lead to addiction. At that time addiction was unknown and there were no restrictions on their use. Many people ended up losing their lives or having them destroyed because of their use of these remedies. Many early doctors saw that these remedies were actually not helping the ailment and that they were creating addictions instead. However, the patent medicine makers protested any laws that were put in place to stop them from selling the medicines. Eventually, these drugs were stopped once journalists began to talk about

Developing Professional Practice and Using Information in HR Essay - 1

Developing Professional Practice and Using Information in HR - Essay Example According to the discussion human resource managers are well aware of the potential of the employees working in the firm, they are in a better position to decide on behalf of the employees instead of the top management. Top management is just concerned mainly with the profitability and productivity of the firm, the other aspects are handled by the human resource management.From this paper it is clear that at the present time, it is vital for the business organisations to understand the pre-requisites of these professionals and provide them with the mandatory resources for efficient management of the entire workforce.   When any department is equipped with all the necessary resource needed for doing the job effectively, along with the required technology, then there stands a good chance that all work operation run smoothly. Talent and skills go hand in hand with the required resources for delivering exemplary performance.  The key social trends identified in the Davidsons case are creating the employment issues because the females lack the required set of expertise and capabilities to perform the obligatory tasks. Majority of the employees are willing to work as part-time as they want to avail various opportunities of earning sufficient amount of money. Since the customers’ complaints have increased as well, it shows that the employees need to develop their working abilities so that they can achieve their performance goals. Customer complaints are not a good sign and hence employee performances need to be reviewed to ensure that things are working in the right direction. As the employees are given wages below the industry standards at Davidsons, they are looking for new jobs in other supermarkets. All employees interact with other employees in the same