Financial Markets and Institutions Essay Example | Topics and Well Written Essays - 2000 words

Financial Markets and Institutions - Essay Example A number of investors had seen these signs as warnings for the development of the crisis situation. Based on these signs, some of the investors had predicted that the tremendous growth of the US economy was a temporary phenomenon and the US economy was ultimately going to collapse (Connolly and Wall, 2011). Several researches have been conducted since then, and are being continued still now, regarding the causes and the warnings of the crisis. Several leaders belonging to different countries have predicted the inevitable collapse of the economy of United States. However, some of the leaders made legitimate and confident forewords about the critical elements within the economy’s financial structure and the extent of dire consequences that the economy was going to face in the near future (McDonnell and Burgess, 2013). Several logical analyses were made on the facts and data that were collected from the-then economic and financial condition of the economy. A considerably large fr action of investors, including buyers of private homes, received credible warnings about the occurrence of a housing bubble. According to some researchers and market observers, the root to this crisis lied in the policies and regulations developed by the Federal Reserve. Additionally, many of the investors ignored these messages received and did not make any changes in their course of action. Banks were also bound by the need to meet the credit needs of local investors. This policy forced the â€Å"banks to make subprime loans† (Gramm and Solon, 2013). Bank authorities transferred this pressure to the banking personnel and regulators to make more loans of the subprime category. The banks performance was measured on the basis of the loans that they were able to extend to the investors (Wang, Ali, and Al-Akra, 2013). In this process, the issue of credibility of the investors was ignored. The quota to provide affordable housing loans was fixed at 30 percent in the year 1993 (Gra mm and Solon, 2013). This was made during the era of President Bill Clinton of the USA. Within three years this quota was increased to 40 percent. The quota further increased within a few years and reached the target of 50 percent by 2000. At that point of time, the administration of President George W. Bush took control of the American economy. Under his control the affordable housing loan goals were increased further. Documents from that period of time reveal that â€Å"these quotas were promoting irresponsible policy† (Gramm and Solon, 2013). The risks involved in these subprime loans were severely high as due to lack of credibility check a large proportion of the borrowers would be found to be defaulters. According to some sources, researchers claim that as high as 28 million high risk loans were provided to borrowers. Although the safety enforcement laws advised the banks to reduce high loans, there existed conflicting regulations regarding the promotion of affordable ho using loans. Thus, the safety and soundness measures were ineffective in restraining the pattern of loan giving, conflicting laws regarding providing housing credit

A reflective of The Pain Scale by Eula Biss Essay

A reflective of The Pain Scale by Eula Biss - Essay Example ea of establishing a measurement scale or a pain scale because she realize that there is really no such thing as absolute especially when it comes to pain. Bliss article was a wonderful literary excursion to articulate the nature of pain but she did not have to go such length had she just been keen with how people deal with pain and distress than study Dante’s Inferno in her quest to understand pain. Her synthesis also that it is virtually impossible to measure pain could not have been lengthy had she observed that pain is relative to people and its triggers are virtually countless. Being such, the examples that would show how relative is pain is abundant. We need not go further to cite examples. We can cite our study. There are students who would be devastated to get a failing or a lower grade while there are students who would just shrug it off and just try to study harder next time. There are people who are daunted by failure and are immensely distressed by it while there are people who take pain in stride and instead measure their true success from their ability to recover from failure. Biss associated pain to religion and to be specific, to Christian perspective of religion which for me is a limited attempt to establish a reference to understand pain. It is limited because pain is universal albeit how we feel it varies in degree and what causes it is relative and the yardstick she attempted to use are prejudiced. For example, Dante’s Inferno is a brilliant literary masterpiece as referenced in the article The Pain Scale but it cannot be inferred to in measuring pain as something universal that could cover every human being. For all we know, Dante’s Inferno is Christian in orientation because in it Prophet Muhammad was referred to as false prophet and therefore to be placed in the vortex of hell and to use to quantify the pain of Mohammedans or Muslims is quite offensive. God is also associated to the number zero and this must be the

The Oak and the Elm Tree Essay Example for Free

The Oak and the Elm Tree Essay Narrowing this vast amount of species down to the most widespread of the broadleaved trees would be the mighty oak and will be compared with the American elm for their beauty. In nature, the oaks hold their own well in competition with the other trees. The oak is a large tree growing to heights of thirty-five to one hundred feet tall. Their leaves are of the most dramatic in shape, which are described as being pinnately veined and pinnately lobed. Meaning the main vein runs through the leaf to its tip and smaller veins branch out, also having deep wavy outline indentations which extend half way or more to the midrib, giving it a hand-like feature. In contrast, the American elm is also a large tree that grows to a height of forty to ninety feet tall and has a simple, short oval shaped leaf that is saw-toothed and lopsided at the base. The trunk of both trees is described as being similar in most ways, thick and covered with furrowed gray bark. The trunks grow lateral with broad branches opening up into a beautiful crown. In time, these dome-headed trees will spread its branches needing a lot of growing space for the canopy. The beauty of the oak tree gives way as it sways in a gentle breeze and flutters its leaves as if waving a happy welcome to anyone who may pass. The elm tree swaying in the same breeze illustrates a simple flat wave. A tree isn’t just for a season; it is for life. The quality of life for these trees depends on the care they might receive. To grow, a tree needs a period of more than two months each year without frost; some need certain soil conditions, and plenty of water and light. The normal age span of trees is different for each species. An average oak tree may take as many as on hundred years to mature and may live for as long as four hundred fifty years, whereas, some elms live more that on hundred fifty years. Both the oak and elm trees are deciduous, meaning they shed their leaves. All deciduous trees are broad-leaved. One of the most appealing aspects of deciduous trees is their signaling of fall by the changing color of their leaves. The oak has rich leaf color that change during the fall from the many shades of green to red, orange, yellow, purple, and every imaginable tint. The simple on-step change of the elm leaves turn from a glossy green to yellow in the fall. Both trees loose their leaves completely and go dormant during the winter months. Diseases endanger each species of trees. The gypsy moth favors the oak leaves, the caterpillars dine on the foliage. â€Å"But scientists have counterattacked with a variety of weapons†¦pesticides, insect-eating birds, and even processed scents called pheromones, which lure insects into traps† (Page 117). One of importance is a wasp that preys on the gypsy moth caterpillar. The wasp lay their eggs on the skin of the caterpillar and when the eggs hatch, the larvae feed on their host, and kill them in the process. Elm bark beetles spread Dutch elm disease from tree to tree. â€Å"It is a potentially very dangerous and fatal disease to which all of our native elms are highly susceptible† (Grimm 191). The beetles attack the living tree and form tunnels under the bark and the adult carries the spores of the disease from tree to tree. Affected trees show sever wilting and yellowing of the leaves on one or several branches, especially during periods of dry weather. There is no effective chemical treatment. Pruning and burning out affected branches are most effective. In many cases it is disease that shortens a tree’s life. Trees are the source of materials we need for many everyday purposes. The strong wood of the oak has a beautiful grain. An important use of oak is for lumber, but also has other uses such as furniture, flooring, paneling, barrels, railroad ties, and ship keels. Some of the oak species contain tannin, found in the wood and the bark, and is used for preparing leather. Some oaks are grown for landscaping in personal gardens to provide shade and to show off their natural beauty. The oaks acorns are an important source of food for wildlife. The elm also has been used for many sources of everyday uses. The wood of the elm is tough, hard, and does not split easily. It is used for making barrels, farm tools, fence post, hockey sticks, furniture, and boats. Elms are used in landscaping too. They are planted along streets and in parks. Trees provide us with oxygen, lumber, and among other things, fuel, to heat our homes. Trees have also provided young children with hours of fun while climbing and exploring the world above ground. Trees provide a place to build clubhouses, tree houses, or a comfortable branch to read a book. In Oregon, a family vacation might include a few nights stay â€Å"in one of twenty tree houses created by Michael Garnier at Out’n’About Treesort† (Nolan6). If trees could talk, our American history might have to or could be rewritten. Under these trees, agreements and treaties have been made. A historic tree in Gettysburg, Pennsylvania, shades union soldiers graves. â€Å"The mighty limbs of the Treaty Oak in Jacksonville, Florida, are said to have sheltered natives and settlers during peace treaty talks† (Brown 6). Various species of trees have played an important public role as the center for meetings. â€Å"The Washington Elm, under which George Washington assumed command of the Continental Army in 1775, remained standing for many years in Cambridge, Massachusetts† (Jonas 186). Much of the nation’s history lives in thousands of trees, and we might be touching history and not even realize it. Again, trees enter into the lives of us all. It could be the piece of furniture we sit on, a tree planted in a yard for shade, or the oxygen we breath, but most of all, the beauty a tree provides in our outdoor surroundings.

The Strengths and Limitations of Electrical Muscle Stimulation :: Exploratory Essays Research Papers

The Strengths and Limitations of Electrical Muscle Stimulation "Buy EMS, it'll burn calories and fat away." "One hour of EMS is equal to 300 to 400 sit-ups." "You can develop 19-22 inch arms!" They're new! They're hot! But do they work? You've seen them in the backs of magazines and on TV commercials- those advertisements form electronic fitness machines that tighten abdominals and give users huge biceps while watching TV or sleeping. These devices are based on electronic muscle stimulation. What exactly is EMS, what does it do, and, other than those muscle building, fat reducing claims, what are the current uses of electronic muscle stimulation. Electronic Muscle Stimulation (EMS) is a muscle exercise concept for use in one's own home. It is an established rehabilitative concept used for treating a variety of clinical problem involving the muscle skeletal, neuromuscular (relating to both nerve and muscle tissue) , genitourinary (relating to the genital and urinary organs) , and integumentary (administered by contact with the skin) systems(Leonard). The first recorded use of EMS for medical stimulation was recorded in 1783 (Creasey). This was used to restore respiration for people who had paralyzed/collapsed chest/lung muscles. After that, many Soviet and Eastern Olympic competitors used muscle stimulators to build and produce the same bulk in muscles that only steroids had promised. Now the system has finally reached the West. Once only available to doctors and therapists, EMS is now suggested for use by anyone participating in bodybuilding, power lifting, martial arts, boxing, or anyone simply wishing to achieve their optimal athletic ability. EMS is also recommended to athletes for warming up the muscles and increasing circulation prior to a workout routine (Schmidt). The Medical Advisory Committee has allowed the use of EMS systems by athletes since the 1972 Olympics (Muscle stimulators...). Many athletes use EMS to supplement their regular workout routines, while many doctors use it to aid in the rehabilitation of muscles f ollowing injury and to ease patients chronic muscle spasms and pain (Muscle stimulators...). The concept of electrical muscle stimulation is to use technologically advanced science that uses very mild electrical current to exercise your muscles. When one performs any exercise, their brain sends a message down the spinal cord through the nerves innervating all the muscles causing them to contract. An outside electrical source stimulates the nerves to send these signals to your muscle to contract. This is achieved by passing electrical currents through electrode pads placed over a muscle.

Causes and Solutions to Pronunciation Problems

Causes and solutions to pronunciation problems12008815x , So Hee Kim Hong kong is one of the most preferred locations for international business in Asia Pacific, and is becoming more so. Naturally business English skills is becoming increasingly important. Business English skills can be categorized into three different parts. These parts are writing, presentation and communication. All are equally important, but this essay will focus more on commuicaition. To be be more specific, it will focus on pronunciation.For, when I first came to hongkong, I realized that people’s grammer and vocabulary is quiet good, but it is sometimes hard to understand them because of their pronunciation. Because relatively other aspects are quite good, I think that hong kong can increase their competitiveness in business English by focusing on this aspect. So, the following will cover the objective of the essay, the causes for the inaccurate pronunciation and the solutions. The objective is to look into how hong kong people can achieve an ‘acceptable’ pronunciation.An acceptable pronunciation is ‘ a pronunciation when other people can understand what he/she says and the speaker’s English is pleasant to listen to; in other words, the speaker is comfortably intelligible. ’ (James,2010) To be short, the pronunciation doesn’t have to be like a native speaker but just have to be understood comfortably. There are few factors that leads to the problem of pronunciation in hong kong, despite the early age the children start to learn English. One is the influence of their mother tongue. And the other is the way how pronunciation is taught in schools. Candice, 2006) There are lots of studies that proves that the first language have a profound affect on learning the second language (Carter,2001). In hong kong, their first language is Cantonese. And there are differences in phonology between Cantonese and English. First, unlike English, Cantonese is logographic. Because they learn their mother tongue in a logographic method, they might apply the same way when learning English. That is, they may learn apply visual recognition method when learning English words rather than applying the phonetic analysis method.And this can decrease the ability to link letters and phonemes, which can affect their pronunciation. Also there are differences in the languages syllable structure, sound inventory and prosodic patterns. (Catherine,2002) But the more pressing problem is the insignificant emphasis placed on pronunciation teaching. For these kinds of problems can be overcome with a good system. First, teachers should clarify the differences between English and Cantonese phonological systems.In a study, a research(Candice,2006) was conducted to students of hong kong to find out where the most frequent pronunciation errors occur and the reason behind this. The research showed that most of these problems occurred, because the students did not h ave a clear idea of the differences between the two sound systems. For example, the /l/ sound in Cantonese cannot be found in a word-final position. So most of the students in the research had a tendency to not spell out the /l/ when pronouncing ‘will’. Learning phonics in an appropriate method is also important.Phonics is teaching reading by training beginners to associate letters with their sound values. By learning phonics students will be able to read and pronounce properly. Recently in primary schools in hong kong, phonics has become a major component of the English language curriculum. But there still seems to be a lot of limitation concerning this. The most pressing problem regarding this issue, is that the knowledge base for teaching phonics is not established. So the teachers will have to work on finding a clear methodology for teaching phonics in secondary language contexts.For example, in a study the researcher suggested adopting awareness raising activities for phonics learning. (paul,2008) This means increasing student’s awareness to the general sensitivity to sound-spelling correspondence. This will increase their ability to notice and deduce the specific relationships themselves. This will lead to better performance of students in sounding out a new word from it’s spelling or spelling a word from it’s pronunciation. Also, teachers should make use of today’s technology.For example, there are so many good computer program for learning English pronunciation these days. The strong point of using computer software is that it allows student to repeatedly listen to what they want, and help them to learn at anytime, anywhere. And by motivating them to use these systems in their daily lives, they can help students develop independency in learning pronunciation. Pronunciations in English is important, in people’s daily lives and also in business society. Poor pronunciation can have a negative impression and also create prejudice against the person. saylor) So, in order to have a good communication skills in the business world, having an ‘acceptable’ pronunciation is a necessity. The main cause for pronunciation problems in hongkong can be found in the huge difference between their mother tounge and English. But by applying an effective English education system it is not a problem that could not be overcome.. As international business in increasing in hong kong, overcoming this weak point will have great effect on the nation’s competitiveness as the center for global businesses.References. 1. http://www. ehow. com/about_6636066_importance-english-pronunciation. html 2. An analysis of Hong Kong native Cantonese Form Three students’ problems in English Pronunciation. ( Chiu Kik Ling Candice,2006) 3. Teaching Phonics through Awareness-Raising Activities (Paul Sze, 2008) 4. Learning to read English among Chinese Children (Rebecca Treiman) 5. The Significance of Pr onunciation in Engilsh Language Teaching (Abbas Pourhosein Gilakjani, 2012)

Allen Lane - Free Essay Example

Sample details Pages: 3 Words: 1026 Downloads: 4 Date added: 2017/09/15 Category Advertising Essay Did you like this example? Opportunity Evaluation Allen Lane’s decision to acquire Plas-Tek Industries (PTI) is intriguing since the business appears to be a good match with Lane’s work experience and interest. As a manufacturer, PTI has been able to create large margins and high cash flow under Harry Elson’s leadership. However, significant risks are prevalent in acquiring PTI. First, more one-third of PTI’s sales originated from five companies and it is uncertain that without Harry Elson’s personal efforts if their patronage will continue. Secondly, the bank valuation of PTI ($600K) appears inflated as the bank’s valuation is notably more than PTI’s book value ($292K), calculated with an inflated price/earnings multiple for a company with no proprietary assets and does not discount any contingent liabilities. Finally, it will be difficult for PTI to achieve long-term growth since PTI has no proprietary assets and that the company is in a mature industry in a slowing economy. Business Venture Status and Characteristics Don’t waste time! Our writers will create an original "Allen Lane" essay for you Create order As an established manufacturing company in a mature industry, Lane will have difficulty creating new growth through manufacturing a nonproprietary product, particularly in a slowing economy. However, the management vacuum created by Elson’s death provides opportunity to create new proprietary products that can grow the company. PTI has high cash flow and annual sales with relatively low labor costs as a nonunion company with both full and part time employees. PTI created its competitive advantage in customer service, so it is important to keep key employees on to ensure that continues after Lane purchases PTI. However, Lane should make sure that he and the current part-time employees learn the job tasks and business knowledge that Bernie, Sarah and Eleanor have to ensure against a loss of intellectual capacity if one of them leaves. Additionally, PTI has demonstrated the ability to create significant cash flow under Elson’s leadership, but it is uncertain that will continue due to the customer relationship and management vacuum created by his death. Finally, PTI does have $92K of land/buildings that they can collateralize for debt financing. Management PTI had been entirely dependent on Harry Elson to manage all strategic, financial, operational and marketing decisions. However, Lane’s Lane experience in managing finances, managing operations, leading teams and making strategic decisions in the manufacturing industry are the necessary hands-on skills to lead PTI after Elson’s death. However, it is questionable if Lane has either the necessary motivation or support team to operate PTI. Having Dan Ray as a partner may be helpful due to Ray’s operations experience, but it is unclear how motivated Ray is in operating PTI. Lane will also need to rebuild existing customer relationships lost due to Elson’s death as well as build new relationships with new customers, which will take significant time and resources to accomplish. However, since this a nonunion company, Lane has the flexibility to make the necessary adjustments in personnel to fulfill the necessary strategic business needs as they occur. Risks Two main risks need to be considered with this acquisition. The first risk is the contingent liabilities arising from Elson’s compensation and accumulated earnings from PTI’s interest-earning assets. Lane should provide the bank information on the accountant’s opinion on these contingent liabilities as rationale the bank’s valuation needs to discount them from their asking price. The second risk is the structure of PTI’s current customer base as a proportion of its sales. PTI’s high concentration of sales to five customers is a cause for concern for PTI’s financial stability after an ownership transition. Lane can reduce this risk through building relationships with those customers as soon as possible and keeping key personnel like Eleanor to help maintain those relationships. At the same time, Lane should implement strategies to decrease the concentration of sales from PTI’s customer base. Financial Need According the bank, Lane needs $600K to submit a bid to acquire the PTI through a stock purchase. However, the bank’s valuation is calculated using an inflated price/earnings multiple and does not account for the contingent liabilities. The P/E multiple that the bank used in its valuation is notably higher than expected for a company that does not have a proprietary product. Applying a market-based P/E multiple of 4X, the 20% cash sale discount and a $90K discount accounting for potential tax liability regarding Elson’s compensation (alternative 1), PTI should be worth $450K. While this price is notably higher than PTI’s book value, it is more realistic than the bank’s valuation. Since Lane and partner Dan Ray personally will finance $200K of this transaction, they need $250K to complete the stock purchase. Therefore, the financial need is $275K. Debt? Considering that PTI currently has low liabilities and significant cash flow, Lane and Ray should seek debt financing. However, PTI is limited by having $92K in land/buildings and $150K in accounts receivable that it could be used as collateral. Using accounts receivables as collateral is more expensive than term loans as well as directly affects customer service, PTI’s current competitive advantage. Therefore, PTI should seek to secure $92K needed to finance this acquisition through a fixed term loan using building/land as collateral. PTI’s cash flow should be able to pay off this loan, despite its 17% to 19% interest rate, over a short time period. Additionally, PTI’s cash flow should allow the remaining $183K to be financed through a mezzanine fund despite such financing requiring a 20%-30% interest rate. Equity? Besides the $200K that Lane and Ray will use to buy PTI stock directly from the bank, the equity financing options for them are limited. PTI is in a mature industry that offers limited growth potential. Therefore, venture capital and angel investors are unlikely to see it creating the necessary high returns to merit investment. Since Lane had no close friends or family that would interested in financing that is not a viable option. However, if the bank insists that $600K be paid to acquire all PTI stock, Lane and Ray should negotiate a 3-year earnout to bridge the remaining $150K gap.

Agency And Social Context The Agency s Mission

Agency/Social Context: The proposed group fits with the agency’s mission: To empower children, youth and families with opportunities for success and independency while emphasizing their sense of cultural and self-identity. It purpose fits with the agency focus on empowering families so they can maintain together. The agency withholds a foster care and adoption department. They are very supportive towards providing the necessary services for the children under their care. Client Need(s): Some examples of issues, problems and or areas of concern that members might share in common in group intervention are: behavioral issues at home or in school, disciplining foster children, child temperament, parents coping with stress, children’s mental health, parents and children reactions to sensory information. Group Purpose: To help members identify potential sources of social support within the community while learning coping mechanisms to better manage stress and the well being of foster parents. To help members find support between other foster parents in the same situation while exchanging skills from one another. Group Composition: The group would be composed of two workers leader and co-leader to guarantee continuity of the group. The group would be composed of a maximum of 18-20 parents. The group would be closed and official by the fourth week after initial week. The group would be open to male and females active foster parents, no specific age or ethnicity. 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Food Stamps can only beRead MoreCriminal Justice System Of The United States1722 Words   |  7 Pagesjustice is the system of practices and institutions of governments directed at upholding social control, deterring and mitigating crime, or sanctioning those who violate laws with criminal penalties and rehabilitation efforts. Those accused of crime have protections against abuse of investigatory and prosecution powers. Goals In the United States, criminal justice policy has been guided by the 1967 President s Commission on Law Enforcement and Administration of Justice, which issued a ground-breaking