Thursday, August 27, 2020

Bluechester City Council v Doncaster Wagons Ltd Case Study

Bluechester City Council v Doncaster Wagons Ltd - Case Study Example On the off chance that any structure or a fence is raised or any development is done, it can't be legal without the assent of the pastor. They will arrange requests as are coordinated by the lodge demonstration 1876. The district courts are qualified for convict the individual or the association that developed the fence or any erection has been finished. The request referenced above is exposed to offer in the higher court as indicated by segment thirty of lodge act, 1876. These are the conditions that apply to the land which is proclaimed regular before its ownership was given to an individual, master, estate or to an association for any reason for open or private intrigue. In such conditions the leaving of vehicles, erection of lodge, development of fence by Doncaster carts can be viewed as unlawful and can be grumbled to the nation court or any pertinent government office. The issue lying here is that the Blue Chester city committee didn't make any legitimate move the 12 years of s pan. Presently the legitimate inquiry emerges that after this much term of carelessness towards occupation does the Bluechester city board do have any lawful option to make a move on Doncaster Wagons ltd. (Swarb.co.uk, 2007) There is each opportunity for the danger of Doncaster securing the ownership rights as the title to the land isn't enrolled. As per section 9 of the land enrollment act 1980, following twelve years of unfriendly ownership of the land, which have no title enlisted, the inhabitant can obtain possessory title. The confinement demonstration 1980 s15(1) will give no activity to recoup the land after the termination of the restriction time of twelve years under antagonistic belonging. As indicated by this demonstration the termination of the confinement time frame will evacuate the privilege of the genuine proprietor of the land to recoup it. The individual who had the land for a long time will get the option to get the title better than all others as per Buckingham shire board v Moran (1990) Ch 623, 635, CA. The time of the ownership will be checked from the initiation of unfriendly belonging and that requires a level of occupation or physical control. This can be combined with the aim to groups the land without the paper proprietor as indicated by JA pye (oxford) Ltd v Graham (2002) UKHL 30 (2003) 1 AC 419. The occupation by the Doncaster Wagon Ltd can be named as seized if the organization gives composed affirmation to the genuine proprietors title. Here for this situation as the genuine proprietor; Bluechester city board have no title enlisted, there is zero chance of that issue as per the 1980 law. The time of the ownership of the land can be determined from the day of the genuine proprietor concedes a tenure or permit to the occupier. For this situation this didn't occur and in the time being the Bluechester city gathering made number of issues with Doncaster carts Ltd to clear it and in light of the fact that they are intruding. As there is no notice of the Doncaster Wagons Ltd paid any duties with respect to the land they unfavorably have, the privilege of the possession that can be guaranteed after the 12 years of restriction period is in question. This choi ce will keep alive the expectations of the Bluechester city board to get the re ownership of th

Saturday, August 22, 2020

Batman Essay Example | Topics and Well Written Essays - 750 words

Batman - Essay Example These funnies depended on the states of mind of the individuals at the time as the discussion of war and enrollment into the military was a piece of open talk (Brooker 34). Robert Kahn, who later changed his name to Bob Kane was conceived on 24 October 1915 in New York and is the inventive maker of Batman, a distribution of Detective Comics. Kane notes who is a craftsman takes note of that author Bill Finger assumed a contributing job in the formation of the very human symbol. As a craftsman, Kane had preceding making of Batman partaken in the clever drawings like Jest Laffs and Peter Pupp for the Eiser/Iger studio and later on made Side Streets of New York and Van Bragger for Circus Comics. It is this drawing ability particularly in experience strips that he relied upon to make Batman (Duncan and Smith 383). Vin Sullivan who was the proofreader of Detective Comics when Kane was simply beginning his masterful profession, was dazzled with the fame superman has accomplished in a brief period since it appeared in 1938. To build the crowd for his magazine, the manager needed to incorporate another excessively human character that would additionally catch the creative mind of youngsters in America, similarly as Superman had. The distributing blast at the time implied that the editor’s prepared craftsmen were occupied in their various undertakings. Sullivan moved toward the anxious and a lot more youthful Kane, with the proposition to structure another humorous character that would benefit from the accomplishment of costumed saints that superman had accomplished since it was discharged a year prior. The proposal spurred Kane build up the possibility of a costumed saint he named Batman. To have his thoughts become a reality, Kane counseled a companion, Bill Finger, who was an author with whom Kane had in 1938 and mid 1939 worked together on a few comic arrangement. The two spend the next days sorting out what they see the character and presence of Batman ought to be (Reinhart 1). In making their character exceptional, the Kane and Finger depended on various sources they could discover. For Batman’s, scalloped cape, the makers picked the ornithopter, which is an adjustment of Leonardo da Vinci’s drawing of a lightweight flyer, fitted with bat-like wings. The possibility of a hero yet wearing a dull and evil looking ensemble like appropriate for reprobate originated from characters in magazine, for example, Johnston McCulley’s Zorro and Walter Gibson’s The shadow. It was likewise the character of Zorro, which added to the idea of the superhuman inert socialite in daytime however a veiled vigilante around evening time. As per Kane, Zorro played a major effect on his thoughts drawing motivation from the principal film adjustment of The Mark of Zorro, which had Douglas Fairbanks in the main job. The Bat Whisperers was additionally significant in Kane’s creation as it added to the bat theme for his hero charac ter. The executive of The Bat Whisperers put together his film with respect to the 1920 play The Bat where the character wore a dark shroud and cover at that point followed his casualties. Kane further acquired the idea of bat shadows present in the bat film. Since most of comic fans were youngsters, Kane chose to single out a character that will reverberate with this youthful crowd. Consequently, Kane and his associates decided to combine their dull, solitary wrongdoing contender

Friday, August 21, 2020

Tips on How to Use Quotes in Essays

Tips on How to Use Quotes in EssaysWriting quotes in essays is a great way to make a lasting impression on your reader. I've found that the best way to accomplish this is to use them as one of your main framework for your essay. You might say that the purpose of your essay is to 'frame the question.'Let's take a look at an example to see how you can use quotes in writing quotes in essays. Let's say you are doing research about your hometown and you have many quotes from various sources to help you illustrate what it is about your hometown that makes it so special. The quotes would be used to create a picture of your town. For example, if you asked someone living in your town what the most common problem they had was, you would be able to use the quote 'being wrong' to describe a problem in your town has.Your friends in the city or the people who have moved away may have a different perspective on the quotes. They may ask you, 'So, you are saying that living in the city makes you wron g?' You could answer, 'Yes, that's exactly how I'm trying to portray it.'You can also write in quotes a story from one of your friends who is in the city and she/he has been there for several years. In this case, you could include a quote from one of your other friends who has not lived in the city for awhile and he/she says that, 'Living in the city doesn't always make you right.'You can also use quotes in essays to support what you are talking about. For example, if you were talking about something going on in the city and you had quotes from various people who were affected by it, you could include a quote from the first person saying that it is 'pretty bad.' This quote would support your point that the city government is making some very bad decisions.These quotes are actually great for making your reader feel like you have gotten the feeling of what it is like to live in the city. They make a difference to your reader by giving you a glimpse into the city. After all, you are th e one that is living in the city and you know what it is like when there is snow on the ground, when the weather is horrible, or the heat is unbearable.I encourage you to also use quotes in essays as you will be able to really describe what the city is like by including quotes. These are words that will help readers understand what it is like to live in your city. They can help them understand what their problems are and how the city might be changing for the better.These are just a few ideas on how you can use quotes in essays. There are so many ways to use quotes in essays and I hope that my writing ideas have given you some ideas that you can use in your essay writing.

Tuesday, May 26, 2020

Essay about Exploration of Memory - 2321 Words

Exploration of Memory Forgetting is a common process that occurs near enough every day. The general definition of forgetting is the inability to recall or recognise something that has been previously learned. Forgetting occurs in both short and long term memory, and several explanations have been put forward as to why forgetting occurs. There are two main theories concerning forgetting in long term memory. The first explanation was the decay theory, this suggests that information stored in memory can eventually fade away. There is an assumption that a memory trace in our brain disintegrates over time and so is lost. This idea of gradual deterioration comes with its criticisms. There is†¦show more content†¦The problem is that both of these variables occurred and the same time, and thus it is impossible to tell whether better recall was due to sleep in the retention interval, or the time of day when recall took place. It is, perhaps, also necessary to point out that this study is not very realistic - the information participants were asked to remember is not like it would be in real life, and therefore the experiment lacks ecological validity. Further investigation into the decay theory, and extending Jenkins and Dallenbachs work, was Hockey et al. (1972), this study found that recall was better in the morning. This means that the original finding can be explained in terms of the time when testing took place rather than lack of displacement while asleep. Another criticism is that if decay is a major explanation for forgetting then why is it that we have so many long term memories? There is much evidence to suggest that memories can be very long lasting (Bahrick et al.) , this evokes the fact that decay is an unlikely explanation for most long term forgetting. The final problem with this theory is that it is difficult to distinguish between the effects of decay and interference in long term memory. If something does disappear from memory - how can we tell whether it was due to decay, displacement or interference? To investigate this problem, a natural experiment (onShow MoreRelatedThe Exploration Of Human Memory Essay1848 Words   |  8 Pages The exploration of human memory will unlock the past and future. Through the exploitation of human memory man condemn itself to an apocalyptic world. The manipulation of the human memory is key to man’s control over the human mind. Memory can divide what humans see and what humans can remember. Some memories may be deceitful, but it all depends on the state of mind and past experiences of that individual. Memory isn’t just a personal experience that’s based only on that person, an eventRead MoreTreatment With 1g / L Mpl For 5 Days Animals1714 Words   |  7 Pagesdata illustrates that in these adult animals treated with 1g/L MPL for 5 days LTP is still intact, therefore the molecular basis for the early phase of memory acquisition is intact. Treatment with MPL does not impair the ability to learn and remember previously observed objects in the shorter term. At the 1-hour time point all the stages of memory, acquisition, consolidation and retrieval, appear to be intact in animals treated with MPL. When the retention delay between the acquisition and the testRead MoreThe Perception Of The Film Association Of Memory Documented Through Various Ephemeral Forms910 Words   |  4 Pagesexplores the materiality of paper in association to memory documented through various ephemeral forms. Represented through documentation of photography in harmony with light, these scenes of crushed and manipulated forms of Japanese papers show landscape like formations alluding to that of the landscape of the mind. Expressed through this exploration of forms, parallels are drawn between the forms of paper and the mind and how paper holds a memory no matter what is done to it. †¨Fig. 1 sees a photographRead MoreAnalyzing Wordsworths Tintern Abbey920 Words   |  4 Pagesemotional beauty and nature. In this poem, the reader finds Wordsworths intense and loving memory of natural scenes. Tintern Abbey is a combination of all Wordsworths feelings about his past and his love of nature. We consider the first two lines of the poem, Five years have passed; five summers, with the length/Of five long winters! ( 24). Wordsworth continually attempts to bring back all the memories he had about his first visit to the Abbey in hopes of reaching a grand, nostalgic momentRead MoreMEMORIES OF THE SLAVE TRADE1000 Words   |  4 PagesMEMORIES OF THE SLAVE TRADE (Rosalind Shaw) â€Å"Memories of Slave Trade† challenges recurring claims that Africans felt and still feel no sense of moral obligation concerning the sale of slaves, Shaw traces memories of the slave trade in Temne-speaking communities in Sierra Leone. While the slave-trading past is infrequently recollected in explicit verbal accounts, it is frequently made vividly present in such structures as rogue spirits, ritual specialists visions, and the symbolism of divinationRead MoreSpace Exploration Is The Solution For All Of Our Problems1289 Words   |  6 PagesSpace exploration is the solution to all of our problems. Fact. Population control spiralling out of control? Colonise. Running out of energy? Solar Generators on a dedicated space station. It’s shockingly simple. Yes, the cost of it, and the time it would take to set up, and the resources it would require to take up could be better spent. If we didn’t take massive risks now and again, we would all still be in the Dark A ges. The Apollo Program was a massive expenditure, and it was a massive riskRead MoreTeaching A Stone By Dillard Writes1236 Words   |  5 Pagesstory seems to be exploration and discovery as Dillard explores the creek with the boy. The next story â€Å"Lenses† Dillard is looking through various lenses to discover what lies behind them. The main theme is discovery as the young Dillard is using the microscope and the seventy-five-watt bulb underneath it. Also there is a sense of discovery as Dillard is viewing the whistling swans. â€Å"Life on the Rocks: The Galapagos† Is the next story focusing on Dillard and Darwins explorations of the Galapagos IslandsRead MoreSynopsis Of Sci Fi Paper1002 Words   |  5 Pagesforsaking their capacity to communicate with earth swiftly enough the engage in real-time diagnosis and command. Instead, the exploration of space has reached a juncture where in order to continue to expand its reach, artificial intelligence systems must be d eployed. Systems both capable and empowered to evaluate the dynamic environment characteristic of space exploration, conclude appropriate actions, and execute on those conclusions. We, for the purposes of this paper, presume that such systemsRead MoreThe Benefits of Space Exploration Essay824 Words   |  4 Pagessailing to distant lands to someday setting foot on other planets, the spirit of exploration is the same. Bur now with the current economic situation and the high cost of sending people to space, NASA is being looked at as a way to free up some much needed funds. Although, there is many problems here on planet Earth that need addressing, the benefits of space exploration far out weight the disadvantages. Space exploration has given us more advanced technology, advances in the medical field, and a boostRead MoreSustainability And Discredit Arguments For Space Exploration1473 Words   |  6 PagesI am writing this paper to claim that space exploration is a huge waste of res ources and we should focus our efforts on the sustainability of the Earth. I plan to explore the benefits of sustainability and discredit arguments for space exploration. Sustainability is the more realistic and feasible choice. A very popular argument for space exploration is to protect our Earth that we have managed to almost destroy, by finding another planet to retreat to. Many people believe the only option is to

Friday, May 15, 2020

How Companies Can Be Affected And Succeed From A Home At...

Introduction The introduction on this case is about how companies can be affected and succeed from the beginning of it life and continuance. It is that there are going to be problems, critics, competitor, and people that are going to want to be part of the organization. In being stakeholders of the company the decision must be crucial and to the longevity of the company. Business created from duration. All though it is a repeating cycle, it is an addition to society, the environment and communities. It is a way to keep everyone busy so that the needs and wants of people addressed. The entrepreneurship established from a home to the commercial environment. The stakeholders of this case are the management crew along with the people and group that affect or affected by the decisions policies and operation of the company. The main stakeholder in this case was Ingvar Kamprad who founded the store at the age of 17. With an entrepreneur spirit, Ingvar started a mail order business. The business shows success through furniture for the IKEA store. IKEA employed Marianne Barner as the business manager of IKEA. Her job was to make decision for the company. At this time, the decision was on child labor. The problem was coming from a supplier of Indian rugs. The supplier had a small part in the business and the decision to use the rug because of their process came from the stakeholders of German TV station. At the age of 70 years, old Ingvar also had customers in Almhult Village,Show MoreRelated The Glass Ceiling - Does It Still Exist? Essay2695 Words   |  11 Pagesdiscrimination. These issues in their respective organizations are a hindrance to their success and can cause their personal and career development to suffer. But the key factor that will be focused regarding discrimination is womens struggles advancing in their careers often called the glass ceiling effect. In this research, the term glass ceiling will be defined, answer the question Who is affected by such barrier and why, what acts helped pave the way, and determine any recommendations to solveRead MoreCase Study - Cialis - Ready to Market6941 Words   |  28 Pages 6t h month action plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...16 a. Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.16 b. Target market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.16 c. Positioning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 d. Price†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..17 e. Promotion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....18 i. Primary Market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..18 ii. Secondary Market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 2. 18th month action plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 a. Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.20 Read More Advertising Essay2261 Words   |  10 Pagescommonplace in today’s homes. â€Å"Today, at least one television set is in 98.2% of American households.† (Television Bureau of Advertising, 2001) Television viewing is no longer a family activity. â€Å"Fifty-six percent of thirteen to seventeen year olds have a television set in their bedrooms.† (Gentile amp; Walsh, 2002) Advertising reaches more and more people every year. nbsp;nbsp;nbsp;nbsp;nbsp;Children spend more time watching television than any other activity except sleeping. â€Å"By age 18, the averageRead MoreInfluence of Family Values, Violence and Media Upon Children Essays1949 Words   |  8 Pagessociety compared to twenty five years ago, we can access news events that take place as it happens around the world by use of internet and cell phones. Parents of young children are interested in learning the cause and effect of exposure to violence in their lives, so that they can make better choices. Understanding the influence of violent media is a relatively new study because of the evolution of technology. Development and the way we perceive the world can be a product of environment or a learnedRead MoreRetail Food Marketing5853 Words   |  24 PagesMarketing Concepts MAR110 Major Report The Australian Takeaway Food Retailing Industry 17 May 2009 34 pages Word Count 3391 Table of Contents Executive Summary iii Introduction 1 Discussion 3 1 Markets 3 1.1 Trends in Size 3 1.2 Growth 4 1.3 Profit 4 1.4 Sales 4 1.5 Distribution 5 1.6 Customers 5 1.7 Competitors 6 1.8 Other Stakeholders 7 2 Major External Factors 9 2.1 Demographic Factors 9 2.2 Economic FactorsRead MoreEssay on Academic Effects of Active Parental Involvement2610 Words   |  11 PagesAcademic Effects of Active Parental Involvement Findings demonstrate that parent involvement in a child’s learning is positively related to their achievement. The first teachers of our children are the adults in the home. This is where the children learn their attitudes and values that are engraved in them for the remainder of their lives. When families as a whole participate, in children’s education in positive ways, there are noticeable changes in the child’s test scores, attendance recordsRead MoreSupporting Good Practice in Managing Employment Relations Essay3171 Words   |  13 PagesOrganisation Culture –The culture can have a huge effect on the employment relationship. For example, if the company shows a willingness to allow flexible working hours, then it stands to reason that the employees will be more likely to accept any changes in the terms and conditions of their employment and also show a willingness to help the business succeed. Investment in employee’s training needs - Ongoing training within the organisation shows a commitment by the company to its employees and make employeesRead MoreEssay on Media and Weight Loss2200 Words   |  9 Pagesinto professional society, a new norm has been set by white professional men that has begun to affect a new generation of white women leaders. Not only do they feel that it is necessary to maintain an intellectual edge, but also a slim figure to succeed. The Figures This target group of women are striving to reach often unattainable body images to meet the standards set by the media and the dominant white men in the professional world. Individuals with eating disorders including anorexiaRead MoreGlobal Cultural Analysis: Japan8767 Words   |  36 Pagescountry of Japan by conducting a Global Cultural Analysis. Throughout this paper the following four research areas were explored: 1.What is the major elements and dimensions of culture in Japan? 2. How are these elements and dimensions integrated by locals conducting business in Japan? 3. How does U.S. culture and business compare with the elements and dimensions of culture integrated by the locals conducting business in Japan? 4. What are the implications for U.S. businesses that wish toRead MoreThe Effects of the Equal Pay Act of 19631921 Words   |  8 Pagesof the gender pay disparity, many can be explained away by level of education, experience, and job tenure. It is the job of a hu man resource department to protect the employees of the business. Human resource departments may actually hire more women because of the effect of the Equal Pay Act. Men tend to ask for higher wages than women, and it may be more beneficial to the company to hire a woman asking less money. Another way human resource departments can protect female employees is to break

Wednesday, May 6, 2020

Father of New France, Samuel de Champlain Essay example

Samuel de Champlain, who is referred to as the Father of New France, was born in the Brouage, Saintonge province, Western France. He was born to a protestant family around 1570. His father Anthoine de Champlain was a sea captain. The fact that his father worked in the high sea as a navigator, gave Samuel a strong desire to be a sailor and an explorer. This came when he was barely twenty years, under the guide of Franà §ois Grave, he made his first voyage trip to the North America. Samuel Champlain never acquired a formal education in either Greek or Latin literature, but he learnt to navigate, drawing art of nautical charts, and writing. He also learnt the fighting techniques as part of a requirement for French sailors and later he was†¦show more content†¦He formed strong alliances some tribes such as Wendat, Algonquin and Montagnais. These tribes live around Saint Lawrence River. The tribes demanded that Champlain must lead them in war against the Iroquois tribe. The Iroq uois inhabited the south area of Richelieu River. The Iroquois had an alliance with England and Dutch, and thus had superior troops. They had an interest on the fur trade that put the two colonies in friction over the control of the trade. They frequently attacked the French and the tribes in alliance with them to push them trade the fur to the Dutch and English tradesmen. Champlain set off with French troops and native warriors to explore the area and as a result Champlain drew the map of Lake Champlain. During the exploration some Iroquois natives advanced in against Champlain men and war broke up. The battle was put to an end after Champlain and his soldiers killed three chiefs of the Iroquois. This strained the French – Iroquois relations further but later Champlain negotiated for a treaty that reconciled the two sides. New France, is a term that was used to refer to the area that the French colonized in the North America. Jacques Cartier, Samuel Champlain and other ear ly explorers opened up new routes along St. Lawrence River to allow further exploration works into the North America territories. Champlain explored other places down to the Lake Champlain building up settling areas.Show MoreRelatedComparison Of Jacques Cartier Vs. Samuel De Champlain1312 Words   |  6 PagesCartier VS Samuel De Champlain Jacques Cartier was a determined,intelligent, and patient explorer of France who was born on December 1, 1491. Cartier was best known for being the first European to describe and map the Gulf of Saint Lawrence and the shores of the Saint Lawrence River. He proudly named his rightful discoveries, â€Å"The country of Canadas.† Samuel De Champlain was a whole hearted, strong, intelligent, patriotic french navigator. Born August 13, 1574. Champlain founded New France and QuebecRead MoreOrenda Essay1132 Words   |  5 Pagesunderestimate his power by laughing at the words that he mumbles about the Great Voice. They allow Crow to continue his preaching as a form of entertainment. The Huron think that no one would fall for the Crow’s nonsense; however, the introduction of the new religion convinces some of the people to convert although their motives are questionable. For example, Aaron converts to Christianity because he thinks that Snow Falls is also a Christian and he wan ts to spend eternity with her. The crows take advantageRead MoreThe Society of New France Essay1847 Words   |  8 PagesThe Society of New France There were many early expeditions from Europe to North America, most in search of a Northwest Passage that linked the Atlantic to the Pacific, thus leading to the wealth of Asia . These excursions alerted Europeans of the resources North America offered and this attraction of fish and furs stimulated annual voyages from Europe to reap the benefits of the New World. As appealing as this discovery was, Europeans considered this New World a harsh environment andRead MoreU.S History I American Pagent Chapter 6 Vocabulary1150 Words   |  5 PagesChapter 6: The Duel for North America TERMS AND NAMES: 1. Samuel de Champlain: an intrepid soldier and explorer whose energy and leadership fairly earned him the title, Father of New France; started establishment of Quebec in 1608 on St. Lawrence River; allied with Huron Indians and fought Iroquois for them 2. William Pitt: British general; also known as the Great Commoner and Organizer of Victory; switched British focus in war from West Indies to Quebec-Montreal area; led 1758 expeditionRead MoreI Am A White, Natural Born Citizen Of The United States1069 Words   |  5 Pagesmix of immigrants. My paternal grandmother immigrated to the United States from Sao Miguel, Portugal. My paternal grandfather’s ancestors immigrated from England and Scotland to Canada. Some of my mother’s paternal ancestors immigrated from Spain to France before immigrating to Canada, and others were Aboriginal Canadians. Three out of my four grandparents have roots in Quebec, Canada. French Canadian is not a nationality that I identify with, but it is the culture that has impacted my life the mostRead MoreAmeric The Great Wagon Road1151 Words   |  5 Pagesbecause it was a stable job. Soon trade became very popular in New England. They created a trading port that left from New England to African , and then go to the West Indies. In 1775, two prominent churches were the Anglican and the Congregational. The Anglican Church was official in Georgia, the Carolinas, Virginia, Maryland, and part of New York. The Congregational Church grew from the Puritans, and it was established throughout the New England colonies except Rhode Island. Before these churchesRead MoreEssay History of Michigan2046 Words   |  9 Pagesfishing on the Great Lakes C) casino gambling D) reparations (cash payments) from the federal government as compensation for broken treaties and other offenses committed by the U.S. in the past 7.France, Europes wealthiest and most populous nation, did not enter the race to establish colonies in the New World until 1522. Spurred by accounts of Magellans success in circling the globe, the French sought to become the first European nation to discover what? A) the fabled Seven Cities of Gold B) theRead MoreRoyal Proclamation Essay1514 Words   |  7 Pagesin order to maintain peace with Indians and to prevent further casualties. Although the proclamation was made with the intention of protection the colonists, the colonists viewed it as oppression. It angered the colonists who wished to expand into new farmlands, as they believed that they, â€Å"...purchased the land with their blood in the most recent war† (The American Pageant, 113). Feeling defiant, the colonists decided to resist the proclamation and still expanded west. Treaty of Utrecht (1713)Read MoreThe Great Northwoods Essay7709 Words   |  31 Pagesthe Nicolet National Forest of northern Wisconsin. In order to do so, I found it necessary to begin with the early explorations of such notables as James Cartier, Samuel de Champlain, and Jean Nicolet. These French explorers blazed a path that enabled the settling of the territories now know as Wisconsin. Men like them embodied the new era of exploration that was gripping the European nations with the quest for empire, trade, and the advancement of Christianity, leading the way. In additionRead MoreBlack Robe Historical Analysis2122 Words   |  9 Pagesstay true to his religion while traveling from Champlain’s fur trading outpost to a Huron Native American mission in Nouvelle France during the 17th century. Father Paul La Forgue sets out on the 1,500 mile journey with members of the Algonquian tribe and a young Frenchman named Daniel Davost, determined to convert the â€Å"savages† to Christianity. Throughout the film, Father La Forgue faces the Algonquians’ beliefs that he is a demon, calling him â€Å"Black Robe†, and even abandoning him for a short period

Tuesday, May 5, 2020

Cradle of Civilization free essay sample

Food, and other resources that one country has doesnt mean that the other will have also. That Is why trade Is Important- changing of material goods and also it can lead to an income in a country in a terms of wealth for the government. China is one of the most notable global traders because it keeps the prices of the goods very low so other countries buy them, which means that China makes a lot of money and other countries get the resources by a very good prices, which shows us that connection to the world Is more than Important.Even though trade (which Is the best example for the connection to the world) should e included in the five criteria that HAS books propagate because it makes everybody wealthier and it provides exchange of the goods between the countries and makes their resources diverse, contrary to that datum record keeping is included in the criteria. We will write a custom essay sample on Cradle of Civilization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Record keeping is very important because it lets present day civilization know their ancestors, but record keeping by itself Is not crucial for the definition of the collocation.Think about how many collocations got destroyed because we dont know anything about them, but we can still name them civilizations because they are harmonistic for the certain period. Im sure that some of the first civilizations didnt keep their records because they thought that someone will be using them after. They did it for fun, the best example is cave painting. Can we name our ancestries a civilizations?Of course we can, because back then the term civilization represented different things than they are today. If we go literally, then we can not, they TLD have large buildings and complex Institutions, but they had specialized workers (hunters/gatherers) and advanced technology (tools). What defines a violation is actually a progress. Progress in technology is very important, today we have computers, which also with development of our brains (we know that record keeping is important), allows as to keep records on them.We have electrics, internet , television and heating, buildings and schools so we can educate our descendants and churches so we can grow spiritually. Calculation Is a complex concept that can be used In many different ways. Our society in global is one giant civilization, or we can break it and for an example call Mesopotamia a civilization by itself. It can also be used as a term to describe groups of people that contributed in making civilization the way it is today.Of course, there are certain groups of people that by choice and their beliefs decided to not be a part of the civilization, but if they are organized enough, and they meet certain criteria, could we name then a collocation by Itself? A lot of people would say The world civilization originally comes from the Latin word civil which means of the citizens. Romans used it to make difference between people in the town and people in the forests.So, by the origin of the word and what it represents, I have to say that any group of people that is not ancient and that did not provided room for our society to develop, even though that group is in some way organized, could not be consider a civilization by the definition, but on the other hand, Greeks also made their own definition and made the meaning of those who can not speak Greek. The word civilization is a very subjective term. It can be defined by any group of people that have the most power. If there is a progress and some sort of organization, we potentially have a civilization.

Sunday, April 12, 2020

The Evolution Vs. Creationism Conflict Essay Example For Students

The Evolution Vs. Creationism Conflict Essay (This is an inquiry that I wrote for a high school composition class use it for reference, but I wouldnt recommend or appreciate it being submitted into a proffesor.)The merits of the arguments between the theory of evolution and the belief in creationism is a topic that has bestirred an interest in me for several years. I think that most people have an opinion on the topic or are trying to form one. An example of this is the Christian fish that emphasizes a creationist view found on the back of many cars. In contradiction, there is a growing response to this emblem by people who publicize their evolutionist views by posting a fish with ?Darwin? written on the inside and feet on the bottom. This strikes me as an interesting controversy that everyone can and should know more about. I have acquired basic opinions on the topic that have come from both viewpoints which leaves me with the struggle of establishing my own belief. Sources that have influenced me before I began investigating the topic include Christian religion, school, my parents, media, and my peers. When I began investigating the subject, I found extensive information full of particular evidence. However, the viewpoints are generally conservative and are strictly either for evolution or for creationism. This inquiry will hopefully illustrate an overview of the ongoing debate. We will write a custom essay on The Evolution Vs. Creationism Conflict specifically for you for only $16.38 $13.9/page Order now Most people view the theory of evolution as being a feasible explanation of how life became what is today. Evolution is a theory that the various organisms are descended from others that lived in earlier times and that the differences are due to inherited changes that occurred over many generations. It must be realized that evolution is a theory and cannot be considered a fact. Even though its roots are from Greek anatomists, the theory of evolution came to light in 1859 when Charles Darwin published his book The Origin of Species, which dealt with natural selection. Since then, scientists have been continually searching for proof for the theory through research and experimentation. Some of the topics that are associated with proving the theory are fossil records, carbon-14 dating, and DNA testing. These are also noted as part of phylogenetic systematics, which is the term used for classifying and understanding the relationships and history among species of the past and present. Natu ral selection, or ?survival of the fittest?, is the mechanics of evolution. Natural selection deals with the dying of weaker offspring of an organism, and the survival of the stronger offspring. When a strong organism survives, its dominent genes are passed on to its offspring. Over time, these genes will lead to mutations, which allow a species to adapt as they slowly move to different environments or other natural change. This is a broad interpretation of how evolutionists explain, for instance, sea creatures becoming land creatures. Evolutionists believe that life began on earth when chemicals combined to produce the first cell. Throughout the course of millions of years, single cell organisms arose to life as it known today. Fundamentally, evolution is based on scientific reasoning and experimentation. As with most sciences, inaccuracies do occur through new discoveries and the theory of evolution must be rethought. Creationism deals with the theory that the world was created in a brief amount of time by a higher being. Creationism has been the way humans explain the making of the earth and the inhabitants on it for thousands of years. This has been depicted through ancient hieroglyphs, stories, and popular mythology. Although almost every culture, ethnicity, and religion that has ever believed in a higher being has its own creation story, I will be focusing on the popular fundamentalist Christian version. These creationists believe that the entire cosmos, the Earth and all its creatures, were created by God in six days between 5,000 and 10,000 years ago as described in the old testaments book of Genesis. They believe that geological records were laid down as a result of a worldwide flood. Most creationists disagree with a majority of the scientific theories used to prove evolution. They believe that life was presented all at once in nearly the same complex forms that are seen today. That is to say, that there were no changes from simplistic to more advanced life forms as suggested by evolution. Furthermore, it is believed that fossils of pre-historic species that no longer exist are just examples of extinction and not the ancestors of an evolved species. Creationists generally use common sense to disprove science and present their theory. More extreme creationists believe that those who believe in evolution hate God. Creationism is the fundamental belief that most people have wrestled with in the past and is still a very strong force today. There are many reasons for evolutionists and creationists to be in conflict with each other. Many creationists hold a sense of loyalty to their holy doctrines and fear that abandoning belief in them would prove that their religion is false. Conflict is feasible because it has been implausible for science to come up with indisputable evidence for evolution. Or possibly, it is complete ignorance on the creationist standpoint that creates conflict. It could be that creationists are uneducated and simply refuse to accept new, contradicting evidence because their fundamentalist belief shuts the door on science in exchange for supreme being power. Perhaps science needs to recognize that a supreme being was indeed partly or wholly responsible for the creation of life and earth. Conflict will continue until society can grasp a coherence among the two beliefs. How can science reconcile itself with the long history of creationism and become an accepted theory of the origin of life and earth? T his question is important to the continued acceptance of research advances in science and to the validation of religious beliefs in the face of new scientific discoveries. .ud060291fd6a78f16c20545e5be425ab3 , .ud060291fd6a78f16c20545e5be425ab3 .postImageUrl , .ud060291fd6a78f16c20545e5be425ab3 .centered-text-area { min-height: 80px; position: relative; } .ud060291fd6a78f16c20545e5be425ab3 , .ud060291fd6a78f16c20545e5be425ab3:hover , .ud060291fd6a78f16c20545e5be425ab3:visited , .ud060291fd6a78f16c20545e5be425ab3:active { border:0!important; } .ud060291fd6a78f16c20545e5be425ab3 .clearfix:after { content: ""; display: table; clear: both; } .ud060291fd6a78f16c20545e5be425ab3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud060291fd6a78f16c20545e5be425ab3:active , .ud060291fd6a78f16c20545e5be425ab3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud060291fd6a78f16c20545e5be425ab3 .centered-text-area { width: 100%; position: relative ; } .ud060291fd6a78f16c20545e5be425ab3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud060291fd6a78f16c20545e5be425ab3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud060291fd6a78f16c20545e5be425ab3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud060291fd6a78f16c20545e5be425ab3:hover .ctaButton { background-color: #34495E!important; } .ud060291fd6a78f16c20545e5be425ab3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud060291fd6a78f16c20545e5be425ab3 .ud060291fd6a78f16c20545e5be425ab3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud060291fd6a78f16c20545e5be425ab3:after { content: ""; display: block; clear: both; } READ: Fahrenheit 451 Brave New World EssayIn the July 1998 issue of The Herald of Christs Kingdom, an article titled ?The Creation-Evolution Controversy? argues that the Genesis story stands up well against the Darwinian theory. The article questions Darwins theory that all species grew from a single cell through mutation and natural selection. It points out that if all species were to grow from a single living cell, then science is yet to produce fossils showing links between the species such as from reptiles to birds. Even when looking at development of embryos, the article concedes that five digits develop on human fingers, birds wings, and fish fins; but all come from diffe rent types of cells and develop at different rates for entirely different uses. The Herald attributes these differences to a divine creator. Natural selection or ?the survival of the fittest? is characterized in this article as the ability to survive without any upward progression or genetic changing. Natural selection is likened to a function of the environment in which a species lives. In the final analysis, the article purposes that the body is a very complex organism with many separate and difficult processes which could only be attributed to Gods intelligence in creating life. The Citizens for the Ten Commandments published an essay entitled ?Evolution is Wrong and Deceptive.? They state that the evolution theory is a massively deceptive fable seeking to describe the creation of this world and its inhabitants. ?Evolution is a strange, broad, irrational, and disconnected conjecture made up from a mind full of hatred for God.? The article suggests that most things in life go downhill without human interaction, but evolution suggests that things arrange themselves for the better and create a stable unity between everything. The authors state that there is no proof in evolution and they dismiss the theory that humans evolved from ape-like beings. Species are the way that they are because God made them that way. These creationists state the similarities in creatures are simply just similarities and have nothing to do with evolution. The goal of evolution is to clear away evidence of a divine creation and replace it with a ludicrous alternative, which dishonors God with its deception. In his article ?Science Teaching, and the Search for Origins,? Kenneth R. Miller states that evolution can be compatible with traditional religious beliefs. In fact, most western religions have long since accommodated Darwin within their views of human and biological origins. Nonetheless, many religious people still feel that the findings of evolution are hostile to religion. A typical argument is that evolution is too unpredictable and involves an element of chance, which a loving creator could not have used in creating our species. Miller refutes that the unpredictability of evolution results from the contingent nature of any historical process and unpredictable forces on human and natural affairs was an essential feature of any creation by a loving God. Unpredictability sets creation apart in distinction from its creator and the only alternative would be a strict determination of our future at the creators will. Another argument of religious people is that evolution is too cruel. The repeated cycles of bloody competition and extinction are too cruel to be compatible with divine purpose and plan. Miller again argues that evolution is not so cruel that it cannot be compatible with the notion of a loving God. Competition in species for existence is also matched by involvement of cooperation and care that shows extraordinary beauty. The final objection of evolution by religious people is that evolution is too indirect. If the Creators purpose was to create us, why would he not have done so directly? Why was it necessary to produce so many worlds, so many different species, all destined for extinction? Miller states that the indirectness of evolution is exactly comparable to the indirectness of historical, social, and even linguistic change, and yet none of these is incompatible with the concept of divine will and purpose. Miller claims that even to a traditional believer, evolutionary biology is not the obstacle that we often think it is. He believes that scienc e and religion can coexist and actually strengthen each other to help us understand the wonders of nature. American Atheists president, Ellen Johnson says that creationism is an unacceptable explanation for the existence of the human species because it has no basis in science whereas there is no dispute among reputable scientists about the scientific basis of evolutionary theory. Due to the scientific basis of evolution it should be included in public education, but creationism shouldnt. Lacking scientific evidence to support their story creationists resort to subterfuge to promote their theology. They suppress competitive ideas and camouflage theology as a pseudo science. Creationists argue that if evidence for evolution is taught, then the evidence against it should also be taught. The problem with that is there is no scientific evidence against evolution. Johnson ends by noting that religiously motivated ignorance may be comforting, but actual knowledge of our past will allow Homo sapiens to survive and thrive. My next source written by evolutionist Scott Anderson, is titled ?Creation and Scientific Logic.? Anderson explains that creationism demands that the logic of the scientific method be abandoned in favor of whatever logic one might be able to scrape out of the Bible. Creationism suggests that all planetary, biological, historical, and astronomical evidence that coincides with evolutionary theory have been misinterpreted. Anderson questions how all of this evidence could be so wrong when it all seems to fit together so well. He states that creationists still have to prove that science is wrong before they can begin postulating how the errors persisted for so long. To replace evolution with creationism would mean throwing away all data about the age of the universe, psychological testing data, athropology, archaeology, and biology. In short, thousands of theories and millions of tidbits of knowledge would need to be ignored in favor of magic and mysticism. Doing this would take us straight back to the Dark Ages of civilization. .u24e4f49a073fcccfb0143849cf1166fe , .u24e4f49a073fcccfb0143849cf1166fe .postImageUrl , .u24e4f49a073fcccfb0143849cf1166fe .centered-text-area { min-height: 80px; position: relative; } .u24e4f49a073fcccfb0143849cf1166fe , .u24e4f49a073fcccfb0143849cf1166fe:hover , .u24e4f49a073fcccfb0143849cf1166fe:visited , .u24e4f49a073fcccfb0143849cf1166fe:active { border:0!important; } .u24e4f49a073fcccfb0143849cf1166fe .clearfix:after { content: ""; display: table; clear: both; } .u24e4f49a073fcccfb0143849cf1166fe { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u24e4f49a073fcccfb0143849cf1166fe:active , .u24e4f49a073fcccfb0143849cf1166fe:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u24e4f49a073fcccfb0143849cf1166fe .centered-text-area { width: 100%; position: relative ; } .u24e4f49a073fcccfb0143849cf1166fe .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u24e4f49a073fcccfb0143849cf1166fe .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u24e4f49a073fcccfb0143849cf1166fe .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u24e4f49a073fcccfb0143849cf1166fe:hover .ctaButton { background-color: #34495E!important; } .u24e4f49a073fcccfb0143849cf1166fe .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u24e4f49a073fcccfb0143849cf1166fe .u24e4f49a073fcccfb0143849cf1166fe-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u24e4f49a073fcccfb0143849cf1166fe:after { content: ""; display: block; clear: both; } READ: Fahrenheit 451 - Symbolism EssayBarry Williams, editor of The Skeptic, an Australian magazine, states that believing or not believing in a God isnt a precondition for being a scientist. Many scientists believe in God and are therefore strengthened in their understanding of the working universe. These scientists believe that a god set into motion all of the complex interactions that made the universe and this doesnt defy scientific laws. He stated that the Bible doesnt make any reference to evolution or any other fundamentals in understanding nature and science. This science wouldnt have any meaning to the writers in a society two to three thousand years ago. Williams goes on to say that the creationists deity magically created everything, but isnt intelligent enough to conceive anything as complex as evolution. He then asked that having ?created man in his image?, why did this god decide to include a brain in humans? Williams concluded that creationists are entitled to their views, but should not expect to have them taken seriously. The sources that I have gathered have perspectives from three categories: evolution is correct, creationism is correct, and creationism and evolution can agreeably coexist. The article from The Herald disputes evolution by pointing out some of its scientific flaws, but also addresses basic creationist views. Since the article puts some factual evidence against evolution, it is one of the more credible sources on creationism that I reported from. The article ?Evolution is Wrong and Deceptive? is a work of complete arrogance. It states that there isnt proof for evolution, but it fails to give examples. The authors are evide ntly very fundamentalist and are not open to acknowledging other opinions besides their own. The article ?Science, Teaching, and the Search for Origins? addressed my research question on how evolution and creationism can coexist. Although the basis of the article was worthy, it was biased towards evolution theory and the arguments were not that definite. Ellen Johnsons report on why evolution should be included in public education was brief and to the point. Johnson clearly illustrated that evolution is worthier since it includes science. This argument is common sense, but Johnson made a good approach at the content, using public education. The article ?Creation and Scientific Logic? puts in perspective what a full acceptance of creationism would mean for scientific data. This article does a good job of showing that evolution and creationism can not coexist. The essay by Barry Williams began with some good statements, but quickly went into God-bashing statements which most extreme e volutionists feel they need to allude to. The probability of evolutionists and creationists coming to an agreement any time soon is not great. Even if one of the theories is proven correct, extremists will still argue over their position. The only people who do think there can be coexistence are those who are less educated on the topic. A popular opinion that I share with these people is that evolution has and is happening as scientists believe, but at the fate of a higher being. An example of this belief is that when non-organic chemicals came together to form the first living cell, as scientists give credence to, there was a deity involved. One way that evolution might gain more acceptance is the decline of religion in society. Since most creationism is based off of religion, which is declining in participation from generation to generation, more people might turn to science. Creationism would require a supernatural occurrence to turn evolutionists over to accepting it as fact. The opposition between the theory of evolutio n and the belief in creationism is in an idle balance, and without any extravagant changes in evidence or approach, it will be for an extensive time. BibliographyJohnson, Ellen. ?Creationism in the Classroom.? ABC News.com. 1999. http://abcnew.go.com/sections/us.TakingSides/takingsides2.htmlAnderson, Scott. ?Creationists and Scientific Logic.? http://www.onthenet.com.au/~stear/creationists_and_scientific_logic.htmMiller, Kenneth R. ?Science Teaching, and the Search for Origins.? April 14, 2000. http://www.aaas.org/spp/dser/evolution/science/kennethmiller.htm?The Creation-Evolution Controversy.? The Herald. July-August 1998. http://heraldmag.org/98ja_10.htm?Evolution is Wrong and Deceptive.? Citizens for the Ten Commandments. 1997. http://www.hom.net/~angels/evolution.htmlWilliams, Barry. ?Science and Religion are Compatible.? http://www.onthenet.com.au/~stear/letterfrombarry.htm

Wednesday, March 11, 2020

African press draws Haiti essays

African press draws Haiti essays African press draws Haiti lessons On Sunday, February 29, 2004 Jean-Bertrand Aristide left the country of Haiti. It is unknown as to where the exiled President went to considering all sort of communications were cut of the previous week in Haiti. The radio stations were shut down; the television stations were shut down and everyone were advised to stay inside. The unclear news of Aristides whereabouts is solely for his safety, so we are told. There was news that Aristide was supposed to go to Puerto Rico, but that planned changed after discovering that ex-president Cedars was waiting for Aristide in Haiti. The ex-president of Haiti worked closely with the rebels of Haiti in the many coup datas that have occurred while in office. Many radio stations in Haiti now are stating that Aristide has gone to Africa. This is still a rumor according to a 1020am Haitian station in Miami, FL. Though there is little cheer for the intervention in Haiti, there is less for President Aristide who "helped seal his own fate", says South Africa's This Day. The commentators in Africa really dont want Aristide to shelter there because they fear the problems, which follows Aristide. I ask myself and others in question why Africa. Aristide didnt leave the country voluntarily. It seems as though he did, but when someone suggest something to you as though you NEED to do it rather than you SHOULD, becomes as you really now having a choice in the matter. I too, believe that by Aristide going to Africa (if that is the case) it somehow place the African country in a tight position. Today Chief Justice, Bonaface Alexandre, a well-known, well-respected Law professor in Haiti, is controlling the Republic of Haiti. ...

Sunday, February 23, 2020

BIOCHEMISTRY ASSIGNMENT 2 Example | Topics and Well Written Essays - 500 words

BIOCHEMISTRY 2 - Assignment Example The process involves either an addition of a transforming group to one of the amino acids of the polypeptide chain or its proteolytic cleavage. The modifications comprise glycosylation, phosphorylation, nitrosylation, ubiquitination, acetylation, methylation, proteolysis lipidation. The process of PTM is governed by enzymes such as transferases, kinases, ligases and phosphatises which act upon distinctive amino acid side chains or on the peptide linkages. The mechanism of action of these enzymes involves addition or removal of distinct functional groups, sugars, lipids, proteins etc. either from or to the amino acid side chains. 1. During the process of translation (e.g. disulfide bonding). Disulfide bonds are formed between the two sulphur molecules. Amino acid Cysteine contains sulphur, as a result disulfide bond is formed between two residues of cysteine (R-S-S-R). The bond formed is strong and plays an imperative role in accurate folding as well as stability of protein molecules. DNA is the basic genetic material which is made up of four nucleotides Adenine (A), Guanine (G), Cytosine (C) and Thiamine (T). Adenine always pair with Thiamine with a double Hydrogen bond while Guanine pairs with Cytosine with a triple Hydrogen bond. The process of transcription is responsible for the formation of messenger RNA or mRNA. This process takes place inside the nucleus in eukaryotes. The sequence of nucleotides in DNA is responsible for the amino acid sequence of mRNAs which are translated into proteins. Transcription and translation involves the processes such as initiation, elongation and termination. The process of transcription involves RNA polymerase which is attached to the promoter sequence. When the protein is desired, the gene is â€Å"switched on† and when protein is not required the gene is â€Å"switched off†. Elongation is carried out after the assembly of PIC at the promoter site, TFIIH is similar to helicase which unwinds the DNA. Terminatio n

Friday, February 7, 2020

An Analysis of the Importance of Setting In James Baldwins Giovannis Essay

An Analysis of the Importance of Setting In James Baldwins Giovannis Room - Essay Example The story itself is well written and intriguing, but many of the elements involved are only able to arise in the unique atmosphere of Paris. This paper will attempt to examine some of the reasons for Baldwin's choice of setting. The two American characters in the novel have both left the United States for different reasons. David, the narrator, claims that "I wanted to find myself" (p. 31) when leaving towards France, reflecting in hindsight that he would only find the self that he kept trying to escape. His past hinges on a dysfunctional relationship with his father, who spent most of David's youth drunk, to the point that by the time David grows older and the father attempts to get closer, then David no longer wishes it. David's rejection of his father stems from two root causes: firstly, David has begun to judge his father and, while not disapproving of the alcohol exactly, David resents his father's emotional absence through the years. Secondly, David has had at least one homosexual experience by this time - with a boy named Joey - whom he then promptly rejects. David's actions show a subconscious shame about his own homosexual tendencies, as well as a concern that his father might discover this aspect of his son. David's departure from the United States is an attempt to put physical distance between himself and his father, as well as psychological distance between himself, the experience with Joey, and the possibility of his father's discovery. Hella is on a similar journey of self-discovery with similar parallels of trying to escape. She is from Minneapolis and not much is said about her hometown. Instead, she is absent the first half of the novel because she is in Spain, contemplating David's marriage proposal. Hella's quest is to find a nobler purpose in her life than to become an average mother and housewife, yet when she returns to Paris, she grudgingly says that "it's really all I'm good for." (p.163). Her spirit is broken. Her old stance had been that a woman's attachment to a man was degrading, yet she now feels that even though a man will always be a stranger to a woman, she will only be free once she is committed to a relationship. She claims that "women get attached to something by default." (p.167), and that, essentially her purpose is therefore defined by David's need for her. Both of these characters go through an evolution in the course of the novel: they seek to escape their own nature, then accept it for a time and are happy, only to become miserable in the end by denying it once more. David only acknowledges his love for Giovanni when Giovanni is slated for execution; Hella leaves David when he needs the most support, primarily because of the revelation of David's love for Giovanni. Because of the very nature of the Americans, they are portrayed in sharp contrast to the Parisians. Hella declares that "coming back to Paris is always so lovely" (p. 160), implying the American romanticism attached to the city, but her true confusion of the Europe experience is hidden in her description of Spain "it's very beautiful. I just didn't know what I was doing there." David, while he enjoy Parisian life, identifies closely with the his fellow customers at the American Express Office, whom he perceives as having a quality "unedited, unrealized the sorrow of the disconnected." (p. 119). These aspects have become

Wednesday, January 29, 2020

Supply Chain Management and Distribution Centers Essay Example for Free

Supply Chain Management and Distribution Centers Essay 1. Wal-Mart has been able to achieve respectable leadership in the retail industry because of its focus on supply chain management. Discuss in detail the distribution and logistics system adopted by Wal-Mart. Ans : As the world’s largest retailer with net sales of almost $219 billion for the fiscal year 2002, Wal-Mart is considered a â€Å"best-in-class† company for its supply chain management practices. These practices are a key competitive advantage that have enabled Wal-Mart to achieve leadership in the retail industry through a focus on increasing operational efficiency and on customer needs Wal-Mart’s corporate website calls â€Å"logistics† and â€Å"distribution† the heart of its operation, one that keeps millions of products moving to customers every day of the year. Wal-Mart’s complete Supply chain is aligned to provide maximum value to its customers by Every day low prices in its Stores. Wal-Mart’s highly-automated distribution centers, which operate 24 hours a day and are served by Wal-Mart’s truck fleet, are the foundation of its growth strategy and supply network. In the United States alone, the company has more than 40 regional distribution centers for import flow and more than 140 distribution centers for domestic flow .When entering a new geographic arena, the company first determines if the area will be able to contain enough stores to support a distribution center. Each distribution center supports between 75 to 100 retail stores within a 250-mile area. Once a center is built, stores are gradually built around it to saturate the area and the distribution network is realigned to maximize efficiencies through a process termed â€Å"reoptimization†. The result is a â€Å"trickle-down† effect: trucks do not have to travel as far to retail stores to make deliveries, shorter distances reduce transportation costs and lead time, and shorter lead time means holding less safety inventory. If shortages do occur, replenishment can be made more quickly because stores receive daily deliveries from distribution centers. The company’s hub-and-spoke distribution network utilizes a system of manufacturer storage with customer pickup. No inventory is stored at Wal-Mart’s distribution centers. Wal-Mart’s fleet of 3,500 dedicated trucks and over 50,000 trailers are used to pick up goods directly from manufacturers’ warehous es, thus eliminating intermediaries and increasing responsiveness. The use of trucks raises transportation costs but is justified in terms of reduced inventory. Merchandise brought in by truck to distribution centers is sorted for delivery to stores within 24 to 48 hours. However, certain goods, such as automotive and drug products, are delivered directly to stores by suppliers. Wal-Mart, a pioneer in the logistics technique of cross-docking, also has store-specific orders packed and shipped directly to the store by the manufacturer. Because Wal-Mart’s fast, responsive transportation operations are such a major part of the company’s successful logistics system, great care is taken in the hiring, training, supervising, and assigning of drivers’ schedules and job responsibilities. From the onset of his retailing career, Wal-Mart founder Sam Walton recognized the importance of hiring experienced people and of building loyalty not only in his customers but also in his employees. The company hires only experienced drivers who have driven more than 300,000 accident-free miles and whom it believes will be committed to customer service. Its retail stores are considered important â€Å"customers† of the distribution centers. As stated in the â€Å"Private Fleet Driver Handbook† that each driver is given a copy of, drivers are expected to be â€Å"polite† and â€Å"kind† when dealing with store personnel and others. In addition to containing a driver’s code of conduct, the Private Fleet Driver Handbook gives instructions and rules for following pre-planned travel routes and schedules, the responsible unloading of a truck trailer at a retail store, and the safe-guarding of Wal-Mart’s property. For example, although drivers deliver loaded trailers in the afternoon and evening hours, a trailer can be brought to the store’s docks only at its scheduled unloading time. Because unloading is done at two-hour intervals during the night, a driver is expected to spend the night, returning to the distribution center at a pre-scheduled time with an empty trailer. Coordinators closely monitor the detailed records of each driver’s activities for adherence to rules. Violations are dealt with according to handbook procedures, which include employee education to prevent future occurrences of incorrect actions. By effectively managing every aspect of its transportation operations and treating its drivers fairly, Wal-Mart gets results that are unrivaled in the logistics arena. Rules are a key to consistency, which leads to preparedness, which then leads to proper execution. To gain maximum out of cross-docking, Walmart had to make fundamental changes in its approach to managerial control. The cross-docking system changed the practice of highly centralized decision at Corporate level.The system shifted the focus from â€Å"supply chain† to the â€Å"demand chain† which meant that instead of the retailer ‘pushing ‘products into the system; customers could ‘pull’ products, when and where they needed.

Tuesday, January 21, 2020

Sexual Harassment in America Essay -- Civil Rights Act

According to Webster’s online dictionary, it is believed that the phrase â€Å"sexual harassment† was coined at Cornell University in 1974 ("Sexual harassment," 2011). The phrase wasn’t, however, really used in common language until the testimony of Anita Hill against Clarence Thomas in 1991. Sexual harassment can take many different shapes and forms. According to a Fox News article, the sexual harassment claims made by men have increased twofold in the last twenty years ("Sexual harassment claims," 2010). Because sexual harassment is illegal both on a federal and state level in many states, there are steps that an individual and employer should take to prevent sexual harassment. On June 19, 1963, President John F. Kennedy sent an extensive Civil Rights legislation proposition to Congress ("Pre 1965: events," 2011). This proposed legislation faced fierce opposition in Congress. Five days after the assassination of President Kennedy, President Johnson spoke to Congress and told them that we have spoken of civil rights for too long and that it was time to put our country’s words into action. Kennedy’s legislation faced many legislative struggles that forced changes and compromises to ensure there would be no filibusters in the Senate that would kill the proposal. Despite all of the opposition, President Kennedy’s proposed Civil Rights Act was passed in 1964 and was set into action the following year. The 1964 Civil Rights Act created the United States Equal Employment Opportunity Commission, also known as the EEOC. One of the primary jobs of the EEOC is to uphold the rules and regulations that were laid out by Title VII of the Civil Rights Act. According to the EEOC’s webpage, â€Å"Title VII covers private, most pu... ...r/shwork.asp Pre 1965: events leading to the creation of the EEOC. (2011). Retrieved August 15, 2011, from http://www.eeoc.gov/eeoc/history/35th/pre1965/index.html Sexual harassment. (2011). Retrieved on July 26, 2011, from http://www1.eeoc.gov//laws/types/sexual_harassment.cfm?renderforprint=1 Sexual harassment. (2011). Retrieved on August 15, 2011, from http://www.websters-online-dictionary.org/definitions/Sexual%20Harassment?cx=partner-pub-0939450753529744%3Av0qd01-tdlq&cof=FORID%3A9&ie=UTF-8&q=Sexual%20Harassment&sa=Search#922 Sexual harassment claims filed by men doubled in last 20 years. (2010, March 04). Retrieved on August 15, 2011, from http://www.foxnews.com/politics/2010/03/04/sex-harassment-claims-filed-men-doubled-years/ Title vii of the Civil Rights Act of 1964. (2011). Retrieved July 26, 2011, from http://www1.eeoc.gov/laws/statutes/titlevii.cfm

Sunday, January 12, 2020

Natural crime and legal crime

Crimes are generally acts carried out that are considered offensive to laws provided by a certain state. Crimes are necessarily defined by the statutes and the by the common law. First, we can say that crime always involves ‘conduct’ only if we stretch the meaning of that term so far as to empty it of substantial content (D. Husak, 1987). This suggests that we can, whether justly or not, be held criminally liable not merely for what we do, or fail to do, but for what we are, perhaps even for what we think or we intend (Robinson, P. H. 1997). On the other hand, one author suggests that â€Å"we must not, or must not yet, read ‘wrong’ here as morally wrong† (Dworkin, G., 1994).Some of these crimes were defined the law based   on the existing and generally accepted moral standards of a certain society while others are based only on a discretion on what is deemed proper for the benefit of the general public. These general types of crimes are called Mala in se, or that which is wrong in itself and Mala prohibita, which became only wrong after being defined by a certain statute (Simester, A. P., & Sullivan, G. R. 2000). We should the always remember that since not all crimes are defined according to moral standards, not all illegal acts, as defined by law are morally wrong. There are crimes that are not wrong in itself, based on the nature of the act, but are considered crimes and therefore are necessarily punishable, once they have been covered by the criminal law (Norrie, A. W. 1993).In discussing the difference between the two types of crimes, it is important that we first understood how these crimes are classified by law. The Federal Bureau of Investigation (FBI) crime index, these crimes is classified in thirteen general categories. First category consists of offenses against religion and public worship (blasphemy, disturbing public worship). Second category consists of offenses against the sovereign power (treason, misprision of treason).   Another category consists of offenses against a nation’s currency (counterfeiting, impairing currency). Crimes are also categorized according to offenses against public justice (bribery, perjury, prison-breaking, extortion, compounding felonies, etc.) and those against public peace (riots, unlawful assemblies, libel).Crimes are also classified according to offenses against public trade (cheats, forestalling, and monopoly, engrossing) and those related to chastity (sodomy, adultery, incest, bigamy and fornication). There are also crimes against decency and morality (public indecency, drunkenness, violating the grave) and those against public police and economy (common nuisances, vagrancy, and beggary). Gambling and illegal lotteries are crimes under public policy. Homicide, rape, poisoning with intent of murder, assault and battery, kidnapping and abduction are only few of the crimes classified under individual crimes. Crimes against private property include b urglary, arson, robbery, forgery and counterfeiting. Lastly, offenses against public persons include conspiracy (US Department of Justice, FBI 2006).Natural crimes or the so-called Mala in se are those crimes which have been criminalized because of their inherent wrongfulness and are usually based on moral standards. Examples of natural crimes include killing (murder), rape, arson or robbery. These are acts that are morally inacceptable and are inherently wrong (Dressler, J. 2001). These are acts that are necessarily punishable even in the absence of a law. Note that these acts involve harming others lives and properties which are morally wrong. Natural crimes therefore have the element of morality. Mala in se consists of conduct that wrong independently of the criminal law.In contrast, legal crimes which are also called mala prohibita are crimes that consist of conduct that is not wrong based on moral perspective or those which are not inherently wrong based on morality. They becom e wrong in the eyes of the law which define them as crimes. They only become wrong and thus become crime because of the prohibition of the law (Moore, M. S. 1993). Examples of these crimes are illegal parking, over speeding and probably of forgetting to bring your driver’s license with you when you go out of the house with your car.   In these examples, we cannot in anyway draw a moral element on which we can base the unacceptability of the acts.Parking at the side of the road which has a yellow line painted along it cannot be considered as morally wrong because it anyway, the act does not harm anyone at that same point.   However, it becomes illegal and therefore a crime because certain law defined it as it is. In certain instances, driving over a designated speed is a crime (legal crime) because there are existing laws that prohibits such acts (Fletcher, G. 1978). In the moral perspective, exceeding such designated speed is not morally wrong. In the same way, it is not immoral to forget or leave your driver’s license at home whenever you go out and drive. It is however a crime because a specific statute prohibits anyone to drive without a license.There are certain grounds on which we can draw clear lines between natural crimes (mala in se) and legal crimes (mala prohibita). In the context of Mala en Se crimes, judges are given less discretion under the â€Å"Rule of Law† because such behavior is presumed to be known and understood to be evil (Hart, H. L. A. 1994). Because these crimes are based on moral standards, it would be safe to assess that these acts were defined as crimes as largely influenced by the society’s religions. Killing and raping are acts against a fellow human being are religious perspectives generally views these acts as immoral and are necessarily unacceptable. Therefore, a judge holding such a case does not to have the strong discretion of identifying if the act is wrong or not. It is in this context that the old maxim of judges that â€Å"ignorance of the law excuses no one† can be appreciated (Dworkin, G. 1994).Closely related to the analysis made by other authors, Heath (1999) sees another aspect of crimes that defines the distinction between natural and legal crimes. That element, according to Heath is the victim. â€Å"In a mala en se crime such as assault the victim is the one who was assaulted, and the criminal is the perpetrator† (Heath, Hari 1999). On the other hand, Heath assessed that it is the defendant who is the victim in mala prohibita crimes.Again using the examples used earlier, illegal parking and over speeding were acts that does not necessarily harm anyone but in these cases, the person who did the acts are held liable and are therefore called criminals. In this case, the person turned out to be the victim. Because of the violation, the law enforcers will cause damages or harm to the criminal by imputing legal financial liabilities at least.On the pe rspective of this paper, it is argued that although there is the absence of morality in mala prohibita crimes, these are justifiable based on the intention of the law to create a more orderly and peaceful society. For example, over speeding may not harm anyone at glance, but this could possibly cause a driver to meet an accident and thus would harm him, properties and lives of others even without his intention. Illegal parking may not seem harmful to anyone at first but try to imagine if people can just park anywhere they want. Would it be a chaotic environment to cars in everywhere?Mala prohibita, for the purpose of this paper, do not at all suppress the freedom and liberty of anyone as some people see them. Mala prohibita laws are intended to set boundaries to human’s great possibility to exceed beyond what they ought to be. Humans have the tendency to act according to what they know is right and what benefits them the most. In certain cases, such acts are out of the consid eration of the welfare of others and that is what mala prohibita laws are intended to avoid.REFERENCESDressler, J. (2001). Understanding Criminal Law (3rd ed.), New York: LexisDworkin, G. (ed.) (1994). Morality, Harm and the Law. Boulder, Colorado: Westview Press.Fletcher, G. (1978). Rethinking Criminal Law. Boston: Little, Brown.Hart, L.A. (1994). The Concept of Law (2nd ed.). Oxford: Oxford University Press.Heath, Hari (1999). Does North Idaho need more prisons? Idaho Observer, July 1999. Retrieved on January 26, 2008 from http://www.proliberty.com/observer/19990703.htmHusak, D. (1987). Philosophy of Criminal Law. Totowa, N. J.: Rowman & Littlefield.Moore, M. S. (1993). Act and Crime. Oxford: Oxford University Press.Norrie, A. W. (1993). Crime, Reason and History. London: Weidenfeld & Nicolson.Robinson, P. H. (1997). Structure and Function in Criminal Law. Oxford: Oxford University Press.Simester, A. P., & Sullivan, G. R. (2000). Criminal Law: Theory and Doctrine. Oxford: Hart Pub lishing.Crime in the United States 2005. US Department of Justice, Federal Bureau of Investigation. September 2006. Retrieved on January 26, 2008 from http://www.fbi.gov/ucr/05cius/offenses/property_crime/arson.html Natural crime and legal crime Crimes are generally acts carried out that are considered offensive to laws provided by a certain state. Crimes are necessarily defined by the statutes and the by the common law. First, we can say that crime always involves ‘conduct’ only if we stretch the meaning of that term so far as to empty it of substantial content (D. Husak, 1987). This suggests that we can, whether justly or not, be held criminally liable not merely for what we do, or fail to do, but for what we are, perhaps even for what we think or we intend (Robinson, P. H. 1997). On the other hand, one author suggests that â€Å"we must not, or must not yet, read ‘wrong’ here as morally wrong† (Dworkin, G., 1994).Some of these crimes were defined the law based   on the existing and generally accepted moral standards of a certain society while others are based only on a discretion on what is deemed proper for the benefit of the general public. These general types of crimes are called Mala in se, or that which is wrong in itself and Mala prohibita, which became only wrong after being defined by a certain statute (Simester, A. P., & Sullivan, G. R. 2000). We should the always remember that since not all crimes are defined according to moral standards, not all illegal acts, as defined by law are morally wrong. There are crimes that are not wrong in itself, based on the nature of the act, but are considered crimes and therefore are necessarily punishable, once they have been covered by the criminal law (Norrie, A. W. 1993).In discussing the difference between the two types of crimes, it is important that we first understood how these crimes are classified by law. The Federal Bureau of Investigation (FBI) crime index, these crimes is classified in thirteen general categories. First category consists of offenses against religion and public worship (blasphemy, disturbing public worship). Second category consists of offenses against the sovereign power (treason, misprision of treason).   Another category consists of offenses against a nation’s currency (counterfeiting, impairing currency). Crimes are also categorized according to offenses against public justice (bribery, perjury, prison-breaking, extortion, compounding felonies, etc.) and those against public peace (riots, unlawful assemblies, libel).Crimes are also classified according to offenses against public trade (cheats, forestalling, and monopoly, engrossing) and those related to chastity (sodomy, adultery, incest, bigamy and fornication). There are also crimes against decency and morality (public indecency, drunkenness, violating the grave) and those against public police and economy (common nuisances, vagrancy, and beggary). Gambling and illegal lotteries are crimes under public policy. Homicide, rape, poisoning with intent of murder, assault and battery, kidnapping and abduction are only few of the crimes classified under individual crimes. Crimes against private property include b urglary, arson, robbery, forgery and counterfeiting. Lastly, offenses against public persons include conspiracy (US Department of Justice, FBI 2006).Natural crimes or the so-called Mala in se are those crimes which have been criminalized because of their inherent wrongfulness and are usually based on moral standards. Examples of natural crimes include killing (murder), rape, arson or robbery. These are acts that are morally inacceptable and are inherently wrong (Dressler, J. 2001). These are acts that are necessarily punishable even in the absence of a law. Note that these acts involve harming others lives and properties which are morally wrong. Natural crimes therefore have the element of morality. Mala in se consists of conduct that wrong independently of the criminal law.In contrast, legal crimes which are also called mala prohibita are crimes that consist of conduct that is not wrong based on moral perspective or those which are not inherently wrong based on morality. They becom e wrong in the eyes of the law which define them as crimes. They only become wrong and thus become crime because of the prohibition of the law (Moore, M. S. 1993). Examples of these crimes are illegal parking, over speeding and probably of forgetting to bring your driver’s license with you when you go out of the house with your car.   In these examples, we cannot in anyway draw a moral element on which we can base the unacceptability of the acts.Parking at the side of the road which has a yellow line painted along it cannot be considered as morally wrong because it anyway, the act does not harm anyone at that same point.   However, it becomes illegal and therefore a crime because certain law defined it as it is. In certain instances, driving over a designated speed is a crime (legal crime) because there are existing laws that prohibits such acts (Fletcher, G. 1978). In the moral perspective, exceeding such designated speed is not morally wrong. In the same way, it is not immoral to forget or leave your driver’s license at home whenever you go out and drive. It is however a crime because a specific statute prohibits anyone to drive without a license.There are certain grounds on which we can draw clear lines between natural crimes (mala in se) and legal crimes (mala prohibita). In the context of Mala en Se crimes, judges are given less discretion under the â€Å"Rule of Law† because such behavior is presumed to be known and understood to be evil (Hart, H. L. A. 1994). Because these crimes are based on moral standards, it would be safe to assess that these acts were defined as crimes as largely influenced by the society’s religions. Killing and raping are acts against a fellow human being are religious perspectives generally views these acts as immoral and are necessarily unacceptable. Therefore, a judge holding such a case does not to have the strong discretion of identifying if the act is wrong or not. It is in this context that the old maxim of judges that â€Å"ignorance of the law excuses no one† can be appreciated (Dworkin, G. 1994).Closely related to the analysis made by other authors, Heath (1999) sees another aspect of crimes that defines the distinction between natural and legal crimes. That element, according to Heath is the victim. â€Å"In a mala en se crime such as assault the victim is the one who was assaulted, and the criminal is the perpetrator† (Heath, Hari 1999). On the other hand, Heath assessed that it is the defendant who is the victim in mala prohibita crimes.   Again using the examples used earlier, illegal parking and over speeding were acts that does not necessarily harm anyone but in these cases, the person who did the acts are held liable and are therefore called criminals. In this case, the person turned out to be the victim. Because of the violation, the law enforcers will cause damages or harm to the criminal by imputing legal financial liabilities at least.On t he perspective of this paper, it is argued that although there is the absence of morality in mala prohibita crimes, these are justifiable based on the intention of the law to create a more orderly and peaceful society. For example, over speeding may not harm anyone at glance, but this could possibly cause a driver to meet an accident and thus would harm him, properties and lives of others even without his intention. Illegal parking may not seem harmful to anyone at first but try to imagine if people can just park anywhere they want. Would it be a chaotic environment to cars in everywhere?Mala prohibita, for the purpose of this paper, do not at all suppress the freedom and liberty of anyone as some people see them. Mala prohibita laws are intended to set boundaries to human’s great possibility to exceed beyond what they ought to be. Humans have the tendency to act according to what they know is right and what benefits them the most. In certain cases, such acts are out of the c onsideration of the welfare of others and that is what mala prohibita laws are intended to avoid.REFERENCESDressler, J. (2001). Understanding Criminal Law (3rd ed.), New York: LexisDworkin, G. (ed.) (1994). Morality, Harm and the Law. Boulder, Colorado: Westview Press.Fletcher, G. (1978). Rethinking Criminal Law. Boston: Little, Brown.Hart, L.A. (1994). The Concept of Law (2nd ed.). Oxford: Oxford University Press.Heath, Hari (1999). Does North Idaho need more prisons? Idaho Observer, July 1999. Retrieved on January 26, 2008 from http://www.proliberty.com/observer/19990703.htmHusak, D. (1987). Philosophy of Criminal Law. Totowa, N. J.: Rowman & Littlefield.Moore, M. S. (1993). Act and Crime. Oxford: Oxford University Press.Norrie, A. W. (1993). Crime, Reason and History. London: Weidenfeld & Nicolson.Robinson, P. H. (1997). Structure and Function in Criminal Law. Oxford: Oxford University Press.Simester, A. P., & Sullivan, G. R. (2000). Criminal Law: Theory and Doctrine. Oxford: Har t Publishing.Crime in the United States 2005. US Department of Justice, Federal Bureau of Investigation. September 2006. Retrieved on January 26, 2008 from http://www.fbi.gov/ucr/05cius/offenses/property_crime/arson.html

Saturday, January 4, 2020

Bond Markets Essay Example Pdf - Free Essay Example

Sample details Pages: 21 Words: 6433 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Tags: Study Essay Did you like this example? Bond markets are one of the important sources of financing an enterprise, corporate and a business entity. Bond market is also called as debt,  credit, or  fixed income market. Bond market is a financial market with different participants buying and selling debt securities which are in the form of bonds. Don’t waste time! Our writers will create an original "Bond Markets Essay Example Pdf" essay for you Create order The size of the worldwide bond market is estimated at $82.2 trillion as of 2009 and the size of the outstanding U.S. bond market debt was $31.2 trillion according to BIS. Majority of the bond markets in the U.S. take place between  brokers and dealers along with the large institutions in a decentralized, over the counter market. However, only a small number of bonds and primarily corporate are listed on exchanges. In this study I am going to discuss about the bond markets and their importance to both developed and developing countries in building strong economy and what are conditions that are required for the development of strong bond markets. The study is equally discussed with the developing countries like India which has a very weak bond market and the countries like Hong Kong and United Kingdom which has a developed bond markets. We will also consider the feasibility and suitability of Bond markets being developed in India and what considerations need to be made. We will also take other factors in to consideration e.g. how the development of Bond Markets will help in financing a firm and how corporate governance can maintain effective regulation of the bond markets and keep an economy growing and stimulated. One of the important aspects of this research work is to find out the conditions that are essential for the development of bond markets and the factors that influence these conditions. Different research papers relating to bond markets are studied in order to find out the different conditions that are mentioned in their research papers. Data relating to different countries are collected, tabulated and presented in the forms of graphs in order to make the analysis part more easy and accuracy. Most of the bond markets refer government bond market due to its size, lack of credit risk, liquidity and sensitivity to interest rates. Interest rates are one of the important determinants of bond market since it is inversely related to the bond markets. Bonds A bond is a debt instrument that is issued for a specific period for the purpose of generating capital by borrowing. Different corporations, states and governments issues bonds along with the promise to repay the principal with the coupons on maturity date. Bond markets play the role of bridge between the issuers and investors. Classification of Bond Markets On the basis of the nature of market, nature of issuer and the issuance, bond market can be categorized into different classes. Primary and Secondary Bond Markets It is the market place where the new securities are placed for the first time by the issuer and the buyer directly purchases it from the issuance party. Up to 1970s, bonds were issued and investors hold them until they mature. Investors enjoyed the risk free returns because of the expected nature of free cash flows connected with bonds made them more striking. In late 1970s a new type of market came into being called secondary market. Investors got the chance to take advantage of difference in prices. It is also known as resale market where bonds that already issued by different companies exchanged among the investors and the issuance companies are not involved in it. Government Bond Markets According to many studies, governments are the largest issuer of bonds worldwide. Government bonds, also known as sovereign debts, play an important role in enhancing the liquidity of a bond market. These are the backbones of healthy domestic debt markets. Bond Market Instruments A large range of bonds are available in the open markets. Some types of bonds neither openly traded nor privately placed that are issued according to the terms of buyer. Some most popular bond markets are: Straight bonds Such types of bonds are also called debentures having the fixed income with specific interest payments on specific dates over specific period of time. The issuer is bound to pay predefined interest on bond at regular intervals and cash back the bond at its face value at its maturity time. Perpetual bonds The bonds having no maturity date and on which interest is paid forever are known as perpetual bonds. These bonds cannot be redeemed. Callable bonds Big and municipal corporations issues such kind of bonds and has the right to call back or buy back a part or all under specific conditions before maturity date. The main purpose of call is decline in interest rate. Zero-coupon bonds A bond having zero coupons but sell at lower price than the face value. Strips These securities have no coupon, sell on discount price and mature at face value. Floating rate notes These are bonds having variable coupons and interest is paid after 3 months, 6 months or annually by calculating it with market reference like LIBOR. Convertible bonds These are the bonds that can be changed into other securities like companys common stock. Junk bonds Hence the risk of default is more than compensated by high yields. These are also known as risky bonds because the interest rate on such bonds is very high and are used for speculative purpose. Catastrophe bonds These are insurance linked bonds having the purpose of generating money in any disaster like earthquake etc. These are not directly related to stock market and issuer have right not to pay interest and some time the principal amount as well. Some main concepts necessary for the study Literature Review Herring R,J. and Chatusripitak,N (Jan 2008) had made a study on bond markets and why there are underdeveloped when they are compared with bank and equity sector, they also investigated why there is an absence of a bond market in some countries. They also mentioned some appropriate policies for bond markets considering Thailand research example. At the beginning of there work a brief explanation about characteristics of financial intermediary was discussed as they form markets place for surplus agents deficit agents along with the reduced information cost transaction cost, reduced risk and the participants involved. They also made an empirical study on funds flow analysis and created a matrix between households, private sector firms, government, international sector for analysis and the results obtained from that shows the importance of multiple investments options for people and firm holding real asset. As per their study households have direct financial claim, and increased savi ngs by households as investments in real assets turns more productive and making economy stronger and better. The second and most important aspects of their study is regarding the importance of bond markets for an emerging markets to form an efficient and effective financial markets. The authors have described that there are different policy implications for different participants (equity market, banking industry, savers, and investors) in an economy. Absence of bond market will hinder the economy completely, as there is 1) High cost involved in banking debt financing 2) Since, it is not market determined interest rates, inefficiency in derivatives market 3) Investors or savers have no alternate options or access for better returns 4) Too much dependency on banking alone can make economy vulnerable to crisis 5) some firms issue bonds in international markets(in denominations of Dollars or Euros in order to finance domestic investments by which firms are exposed to hig her foreign exchange risk and they cannot hedge due to absence of effective and efficient bond market. The authors also suggested few measures to improve bond market which highlights about corporate governance 1) Issuing government bond-as it can be used as benchmark for other domestic bonds 2) Improve and frame judiciary and legal rights, so that it is Fair-play and efficient to encourage small and medium investors. 3) Overall financial infrastructure must be developed for emerging countries. And the entire statements and actions suggested and reviewed were well support by empirical analysis on Thailand (emerging market) as evidence for the need and development of bond market. Mihaljek,D , Scatigna,M and Villar,A(2002) in their study on trends in the bond market in emerging countries and their study aimed in analysing size and growth of debt market in relations with their development due to macroeconomic aspects and also including the important microeconomic factors and institutional characteristics which leads to development of bond markets. This literature is well support with our main context of relating the 3 roles as mentioned earlier. And from their work, Financing Firms it is found that bond markets has grown double in size(especially Asia) from mid 1990s to early 2000 which is a clear proof of increase in the size which represents the demand for bond markets very much in action for financing the firms. From empirical analysis it can be noted they found that emerging markets are really growing rapidly, however smaller in size when compared with industrial countries in both domestic and international as well as private and public sector. Adding to the above, bond issuance activity can also be compared; it shows massive increase in percentage of emerging countries however their volume of contribution is still less when compared with industrial countries. These bond markets have always acted, as catalyst innovation and introduction of new financial services. Implementation of corporate governance these things in-turn lead to implementation of rules and regulations, corporate governance over fair play. Evidence of United States is included as importance on formation of laws and constitutions for overall development bond market overall financial market of economy and showed positive results. Corporate governance becomes very important, as these bonds are very complicate with their features, well framed legal judiciary systems is significant to mechanise payments and settlements procedure, maintain fair-trade policy, lay principles for effective and efficient functioning, international trade procedures and so on. A sound secondary market is essential for bond market to work efficiently and effectively, the authors have mentioned measures like proper legal and judiciary system, intervention of central bank, develop fund management industry ,develop efficient clearing and central depository system , all these aspects wi ll automatically develop secondary market which is the most difficult part of bond market in emerging countries as there is proper trade policies the bond prices do not signal exact information to investors and market participants about the bond prices. Hawkins,J(2001) states in his work paper that, financial system in most emerging economies is based on banks and these banks are influenced by the development of bond market. John Hawkins raises questions about whether the bond markets are taking the business away from the banks. On the other hand he also feels that firms are helping banks by issuing corporate bond to central banks. Banks also play a vital role in developing a private sector bond market as they are also involved as issuers, holders, dealers, advisers, underwriters, guarantors, trustees, custodians and registrars in this market. In fact banks are obtaining more profits by performing the above mentioned activities and less from lending. For this reason, it is import ant to have healthy banks to have a sound bond market. And a bond market can improve banking activities. John Hawkins also addresses some of the questions in his work paper which are as follows: Do bond markets substitute for bank lending? For answering this question he uses the explanation given by Greenspan (2000). He says that bond markets can act like a spare tyre, it can substitute bank lending for corporate during the times when banks balance sheets are weak and banks are rationing credit. This was the case in the early 1990s in the United States, and there were some signs of it in Hong Kong in the late 1990s, but John Hawkins finally concludes that bond markets cannot replace the entire banking sectors as it affects the economy of the country. Do bond markets take good lending business away from banks? He says that highly rated companies issue more bonds than the lower-rated companies. In general people prefer to buy the bonds of only blue chip companies which are rated very high and they do not believe in the low rated companies .in fact it is low rated companies requires funds than the high rated companies which has many ways to obtain funds. Finally he concluded that bond markets do not affect banks in turn it develops economy of the country by supporting the banking activities whenever the banks are in crises. Turner, P(2002) writes in his work paper, bond markets in emerging economics: an overview of policy issues that bond markets are developing because of their benefits to the central banks. In general the government bond market helps to fund budget deficits in a non-inflationary way and thereby protects the effectiveness of monetary policy. They also act as an agent for the government in various aspects of the management of government debt. They oversee clearance and settlement systems, and they are responsible for the stability of the financial system. MR. Philip mainly explains about the corporate bond market and the ro le of banks in his work paper. He says that apart from the few Asian countries, there is no much more development of corporate bonds in emerging markets. In his own view Korea has a well developed bond market in the Asian region. According to him banks need to be fully involved in bond underwriting and in the sale of capital market products to households. Another concern about the increased bond issuance may just take profitable business away from the banks. He concludes that bond markets are going to support the banks in difficult times and also helps in the development of the economy of the country. Patil.R.H(2008) in his work paper Broad basing and Deepening the Bond Market in India states that India has a well-knit structure of national and state level development which is regulated by the Reserve Bank of India and Government of India supports and regulates the infrastructure which manages all aspects of governance . The main objective of all the structure and the regul atory measures is to provide much needed long-term finance to the industry which the older existing commercial banks were not keen to provide due to the fear of asset-liability mismatch (R.H Patil) which has negative implications on financing a firms investment. Since deposits with the banks were mainly short/medium term, extending term loans was considered by the banks to be relatively risky (R.H Patil). The interest rates charged by the commercial banks were appropriately aligned in such a way that the project loans were relatively lower than the actual loans (R.H Patil) extended by banks for such purposes as working capital for industrial and other units. Similarly, the rates that the corporate entities could offer on their bonds were fixed By the Finance Ministry which used to regulate the capital markets until the independent capital market regulator Securities Exchange Board of India (SEBI) was set up almost a decade ago (R.H Patil). The Finance Ministry, however, use d to informally consult RBI before it fixed the interest rates on corporate bonds suggesting regulatory influence. Financial sector policies were revamped and deregulation was introduced after 1991 and DFIs no longer had the comfort of the protective policy climate in which they operated. They no longer have access to concessional sources of finance like government guaranteed bonds or budgetary support (R.H Patil) and they now they have competition from commercial banks which keeps competition high and lending rates low helping keep an economy stimulated. Batten,J(2000) in his work paper Expanding Long-Term Financing through Bond Market Development: A Post Crisis Policy Task states that, The Asian financial crisis suggests many policy tasks not only to its worst hit Economies but also to other developing countries (Jonathan Batten) and highlighting some governance issues. One of these tasks is the need to diversify the source of long-term industrial financing for firm, which hist orically is concentrated in the form of short-term bank borrowing and the potential for maturity transformation. This form of financing behaviour historically has entailed currency mismatches, financial inflexibility and vulnerability to external shocks (Jonathan Batten) which highlights some further governance issues. While there is a large ongoing requirement for infrastructure investment in the post-crisis period, there is evidence of a rebalancing of the asset portfolios of financial Intermediaries away from Asia. Specifically, international bank financing peaked in 1996 at US$248 billion and was reduced to US$161 billion by June 1999 which shows how well managed and regulated the worlds strongest economy was. In this post-crisis environment the challenge is to direct the high levels of regional savings to meet this refinancing need. We argue that the appropriate mechanism to redirect these savings is through the development of viable domestic and international bond market s (Jonathan Batten). The financial systems of crisis economies display different characteristics and respond differently to the reduced liquidity that arose following the crisis e.g. in the Republic of Korea which has the largest domestic bond market, and Malaysia has the largest market for bank loans and equities. All crisis economies increased levels of international bonds post-crisis though Korea was the most successful, increasing outstanding from US$23.4 billion in 1996 to US48.5 billion in 1999. This suggests that there is a degree of substitutability between international bank borrowing and international bond issues, though the degree of substitutability varies between different classes of issuers. For example Korea was able to replace the reduced levels of bank lending with international bond issues, though the other crisis economies were not able to do so. This highlights the need to develop more viable domestic bond markets as well as improving the access to internation al bond markets. Background of Indian bond market A capital market is said to be well-developed only if it has a proper composition of both the equity market and the bond market. Risks involved in the banking systems and the limited public finances have created a huge scope for bond markets in India. Both macroeconomic and microeconomic levels can be developed by the corporate bond markets and hence the development of these corporate bond markets will develop the Indian economy. Traditionally developing country banks use Plain vanilla bank lending to raise corporate debt. Even though India has a developed regulatory framework and a financial system, the bond markets in India comprises of only 0.4% of GDP when it is compared to Korea which has 21.1% of GDP. The Indian Bond Market is the third largest bond market in Asia after Japan and South Korea. The government continue to be the largest borrower in India when compared to South Korea which has a private sector as main borrower. There is a satisfactory level of savings in the I ndian Economy at around 23% and according to the RBI (Reserve Bank of India) an average of 78% of the financial savings of household sector were invested in fixed income assets. The debt instruments have supported Indian market for very long period and the most popular financial services are Bank Deposits, insurance, provident funds, income orientated mutual funds and postal saving schemes. Even after having the successful debt instruments the Bond markets in India is not strong may be because of the absence secondary market for debt instruments. Liquidity of Bonds is one of the major issues leading to a classic chicken and egg problem. Aims and objectives The aims of the study are: To assess the conditions those are required for the development of bond market. To measure the performance of the Indian bond market and compare it with developed bond markets. Objectives: Objectives are the building blocks for achieving aims. The objectives of the study are: To study the financial market participants in India and their role in developing the bond market. To compare the development of stock market and its impact on the bond market. To assess the government role in controlling bond markets, since majority of the bonds are issued by government in India. To measure the performance of other developed countries in order to ascertain the growth of Indian bond market. Methodology In this research work a lot of information relating to the interest rates, GDP, inflation rates of different countries are collected and analysed by using graphs to measure the performance of bond markets. Bond measuring techniques like bond curve is also used to calculate the return on which an investor will receive by holding a bond to maturity. Limitations Majority of the data collected is from the secondary sources. Research work is based mainly on qualitative than of quantitative. Bond measuring techniques are limitedly used. No quantitative tests are conducted for measuring performance of bond markets. Empirical study and discussion From the above table, we see that when the volume of transaction in Indian stock market is reaching higher peak every day. On contrary the bond market was sliding down in volume of transaction from 19911.57 crore (10m Indian Rupees) in August 2003 to a mere Rs 605.23 crore in July 2006 and corporate bond market is just 3% of sliding volume. The major obstacle for active bond market is policy structure of the debt market. This was a feature of all the emerging countries that debt market developed slowly than stock market in overall capital formation of the country. It is evident that US has 50% of worlds total bond market , followed by Japan having 15% and UK has long standing bond markets which concentrates more of bond market activities are very alien to these emerging countries. To note, South Korea is the only emerging economy with a reasonably well developed bond market Figures are turnover on the wholesale debt market segment of NSE. Source: NSE Figures are bond issua nces with one year or more maturity in the primary market in the first quarter of 2006-07. Source: Prime Database However from the other research papers and articles, it states that limitations and systemic risk awareness of the bank lending in emerging countries have led to development of bond market. Evidence from the issuance activities of bond in India which has doubled itself in recent past. These bond markets have helped India in various long term economic development activities both at micro and macro economic levels. Though bond markets are in existence from 1947, it was only from last 30 years state owned enterprises started to issue PSU bonds for financing or as instrument to raise funds for investment purpose. However due to lack of liquid and undeveloped secondary bond markets these bonds and bond investments have been unpopular among large population. Brief overview of growth of bond markets The Growth of the Government Bond Market in Emerging Markets Source: International Organization of Securities Commissions May 2002 Corporate Bond Markets Corporate bonds are issued by both private and public entities in order to release funding to benefit their business. Corporate Bonds are most popular amongst investors as they have attractive yields, greater guarantees on return and risks which increases their marketability and dependability. Corporate Bonds also have the added advantage they are being offered by dependable and reputable institutions. Investors in this market include individuals, financial institutions, different types of funds as well as Insurance Companies and Banks. Corporate Bonds are the perfect source of finance to fund long term aspirations of a business. This offers the borrowers flexible and relatively cheap lending to benefit the company in the long term. Corporate bonds are issued from surplus agents to deficit agents via Investment Banks who place suitable lenders and borrowers together after taking the necessary precautions and analysis. Figure 2 shows how and what rate corporate bonds are issue d in emerging Markets. Growth of the Corporate Bond market in Emerging markets Source: International Organization of Securities Commissions, May 2002 There still appears to be a unified mechanism even though Bond Markets are very mature. There are three different types of Bond which are named according to their issuance namely Domestic, Foreign and Eurobond markets Foreign Bond Markets In this case foreign borrowers approach a domestic market in the related currency and the bonds have different names which show which market they were issued to. Bonds issued in US dollars by a borrower located outside US are usually known as Yankee bonds, bonds issued in ponds sterling by a non UK lender are referred to as Bulldog bonds and similarly, bonds issued in Japanese yen by a non Japanese issuer are referred to as Samurai bonds. Eurobond Markets These bonds are issued by a consortium of reputable financial institutions and are not related to the currency of issue are known as Eurobonds. Eurobonds relate back to the 1960s when Eurodollar Bonds (USD Bonds issued by non American entities). The first Eurobonds were issued around 1957 and they are currently being denominated in to almost all currencies. This suggests that they have become more sophisticated over time. Table 2 shows how Eurobond markets have evolved over time and their presence globally, these Bonds are popular as they help meet capital requirements and they also operate outside most levels of governance and are exempt from taxes etc. So, Eurobonds are Bearer Bonds, the bearer has complete rights over the bond and this allows financial institutions to take advantage of lower borrowing costs which undercut those bonds available in domestic markets. Table 1: History of Foreign Bond Market (1990-2001: Nominal Value Outstanding in Billions of US Dollars) Country 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 United States 486.8 495.4 422.4 420 394.9 347.7 291.9 242.3 230.1 147.2 130.4 115.4 Japan 61 72.6 82.1 87.8 93.1 106 89.5 81.2 66.2 52.1 49.5 43.2 Euroland 0            Germany    0 0 0 0 0 0 0 0 0 Italy    n/a 5 3.3 1.8 1.4 1.2 1.8 2.8 2.6 France    5.7 4.8 6.5 6 6.2 4.9 5.7 6 5.5 United Kingdom 145.1 122.3 90.2 65.5 31.6 16.8 10.8 9.4 7.3 3.5 1.3 0.8 Canada 0.4 0.4 0.3 0.3 0.3 0.4 0.4 0.6 0.6 0.6 0.8 0.8 Netherlands   n/a 1.3 3 3.8 4.3 4.5 6.7 8.4 9.9 Belgium    45.5 32.6 36.1 35.1 27.1 21.8 20.4 19.4 17.1 Spain    20.3 19.6 15.4 12.4 10.5 9.4 8.7 8.6 5.6 Sweden 3.9 4.2 4.4 4.9 5.9 6.7 5.6 n/a n/a n/a n/a n/a Australia 9.9 6.6 5.6 2.3 1.7 1.8 1.4 1.7 1.5 1.5 n/a n/a Austria    2 1.8 1.8 2.6 2.4 2.5 2.4 1.9 1.4 Switzerland 110.4 113.4 107 112.5 95.7 95.5 103.1 85.9 76.3 74.7 82 82.1 Finland    0 0 0 0.1 0.2 0.3 0.6 0.9 0.4 Norway 0.5 0.2 0.3 0.4 0.4 0.5 0.9 0.8 0.3 0.4 0.6 0.4 Total 817.5 815.1 712.3 767.2 688.7 641.5 565.4 474 426.9 326.3 312.6 285.2 Note: In Euroland, foreign bonds are included in the Eurobond totals. A breakdown of these bond types is not made available. It is assumed that the majority of these bonds were issued in the traditional Eurobond format. Source: Merrill Lynch, Size and Structure of the World Bond Market 2002-April 2002. Table 2: History of the Eurobond Market (1990-2001: Nominal Value Outstanding in Billions of US Dollars) Country 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 United States 2840.4 2380.3 1976.6 1438.5 1216.2 932.6 679.5 617.5 576.9 570 548.2 524.7 Euroland 649.8 674.5 594.9 849.7         Japan 450.9 508.1 415.2 381.1 358.6 368.1 362.7 303.8 197.6 149.9 143.8 116.1 Germany     329 305.6 280.6 220.3 176.2 148 129.3 113.4 Italy     107.6 90.7 63.4 52.8 35.1 23.9 23.9 14 France     171.8 165.7 146.4 129.6 91.2 63.2 44.4 27.4 United Kingdom 490 455.7 342.6 326.5 263.8 222.4 173.4 156.4 138.5 114.8 129.4 110.9 Canada 47.1 51.8 56.4 52.2 66 75.2 82.2 80.9 79 61.8 60.4 46.6 Netherlands    88.5 87.1 72.4 59 39.8 21.8 16.9 15.2 Belgium     5.8 5 2.8 0.7 0.4 0.4 0.4 0.4 Spain     6 7.4 6.1 3.3 3.7 1.3 0.8 0.4 Sweden 3.8 4.8 4.6 5.1 4.3 5.1 5.1 4.6 3.3 3.1 3.2 2 Denmark 8.9 9.5 11.5 12.2 11 8.3 5.7 2.8 2.8 3.3 4.2 5 Australia 29.4 30.3 38.7 32.6 39 46.5 38.5 31.9 22.8 19.4 23.2 25.2 Austria     2.7 3.2 4.2 4.1 4 4.6 5.1 4.1 Switzerland 19.5 29.4 25.1 21.3 13.3 11 9.8 5.7 3.6 1.6 2 2 Finland     2.5 2.8 2 1.7 1.4 1.9 2.3 1.9 Norway 4.6 3.8 3.3 1.6 1 0.8 0.2 0.1 0.1 0.3 0.5 0.5 Portugal     11.1 8.7 5.4 2.3 1.6 n/a n/a n/a Ireland     1.8 2 1.5 0.6 0.6 0.2 0.2 0.2 New Zealand 5.9 7.1 10.5 10.4 8.8 4.4 0.9 0.9 0.9 1.2 1.9 2.3 Total 4550.3 4155.3 3479.4 3131.2 2708.8 2352.6 1942.8 1679 1379.5 1190.7 1140.1 1012.3 Annual Growth %  9.5 19.4 11.1 15.6 15.1 21.1 15.7 21.7 15.9 4.4 12.6 Source: Merrill Lynch, Size and Structure of the World Bond Market 2002-April 2002. Factors Influencing Bond Markets The fluctuations in bond markets are caused by several economic factors, the most significant factor being a change in interest rates. Interest rates have an inverse relation with the bond price: as interest rates rise, the bond price falls and vice versa. Changes in interest rates could be due to changes in demand and supply of credit, fiscal and monetary policies, exchange rates, market psychology and inflation expectations. Inflation is considered to be yet another major factor affecting bond markets. Bond investors always have an aversion towards inflation. They fear inflation, as it lowers the value of bonds by reducing the future purchasing power of fixed interest payments they receive. Hence, any economic development that is likely to result in inflation causes panic in the bond markets. International bond markets are exposed to exchange-rate risk. Cash flows associated with foreign bonds are dependent on the exchange rate at the time the payments are received. Hence, fluctuations in the exchange rates cause changes in the value of bonds. India is expected to be a leading world economy (along with China) in the 21st century. Indias share of the worlds gross domestic product (GDP) is expected to rise from 6% in 2005 to 11% by 2025, making it the third largest economy in the world behind the US and China. Few identified difficulties of underdeveloped India bond market Highly regulated: the Indian bonds markets are still in control of government, administrative fiat and regulatory authorities which control and determine all the interest rates, even the interest rates in corporate bonds are determined by the government. The interest rates set are not very encouraging therefore bonds do not attract many investors. Apart from that the level of stamp duty levied by governments on secondary transactions of bonds are very high which hinders the growth and development further. Restricting policies: Indian banks are very much act on the guidelines, principles issued by the central bank and government. The policies implemented are very de motivate banks to involve in other activities. For example priority sector lending policy which mandates the banks to account 30% of their lending to these sectors, even though they are less productive like transport, agriculture are sectors Indian government recommends on. Limited Investor base; Indian bond mark et have limited investor base. Generally corporate bonds are held by government, provident funds, insurance companies, banks and many other financial institutions. These institutions hold till maturity, due to which the supply of funds become limited and inadequate in market. Therefore if the bond market has to improve, the general attitude of these institutions must change, involve themselves in trading to reduce risk, improve profits so and so forth. Ease on foreign investors will again improve the bond market. Inadequate transparency: since the prices are not determined by the market forces, this discourages investors to trade and very low trading activities do not provide the economy with better flexibility and liquidity to market overall. Unreliable Information signals: Indian bond market is not well supported with information and technology systems by which it faces many difficulties and delay in flow of information. Due to the delay in complete system the participants a re not aware of full information to understand their positions at end of the day which is not motivating for well timed decision making. Countries like US, Japan use various means to spread the relevant news and information like financial reports, profit statements, industrial meetings, and rating agencies and so on for enhance and smooth the flow of information through out the market. From the study few Recommendations for an active corporate bond market Infrastructure Financing Infrastructure financing in India offer a chance for developing the commercial bond markets but not depend on the growth of this market. Financing through different banks are not possible for the projects as they are for long periods. Banks cannot give 30 years loan facility as they can accept loans only for 5-10 years; this will leads towards asset liability mismatch. However, if the liquid market provide exit path, then it would be feasible for banks to purchase 30 year bonds. In contrast insurance firm or pension fund can buy long term bonds as they get the facility to sell which the secondary market can provide Securitization The need for a market for securitised products is another related issue for infrastructure financing. In India, three major areas Mortgage Backed Securities (MBS), Infrastructure Sector and other Asset backed securities (ABS) are important. For financing long term projects, individuals should get entrance in debt market like Special economic zones (SEZ). Expanding in domestic demand, export growth and growth in industrial investments will ultimately boost up the requirement of bond financing. Mismatch of currencies and over dependence of ASIAN corporations on short term foreign funds were the big causes of Asian Financial Crisis. It caused the fast outflow of capital from Asian countries and confidence in these countries began lighten. If the domestic markets dominated in their own currencies and more developed in Asia, then the Asian crisis would never strong enough as it destroyed the Asian markets. One of the ways to avoid risk is development of local currency market, whi ch will ultimately help to reduce potential currency and maturity mismatches in financial system. The development of an active debt market is required for  capital account convertibility which is also recommended by Tarapore committee. Apart from its fundamental role of achieving allocation efficiency, a well-developed government bond market strengthens the monetary policy implementation framework by equipping a central bank with market-based indirect instruments. A vibrant corporate debt market allows a corporation to access a set of standardized rates and fees instead of making individual negotiations with financial institutions. However corporations have difficulty issuing high value bonds in India, thus resulting in the incremental credit rate increasing from Rs 2.5 lakh (100k) crore (10m) in 2004-05 to Rs 3.7 lakh crore in 2005-06. Banks may find that their appetite for lending is taken up by large issuing corporations. If the Bond market becomes stagnant and bond, securities, loans etc cannot be issued by smaller institutions. Larger corporations develop a preference for acquiring finance via the Bonds and securities markets etc and Banks will have to react to this and concentrate more of their resources on developing the SME sector. The emergence of the  Pension fund industry In any country, Pension fund industry have some connections with the capital market, Same is the case is in India; they also invested in government securities. Investor base needs to be broadened: Though FIIs is allowed to invest up to $1.5 billion in corporate bonds, this amount is not enough to invest in this market. So, FIIs should allow investing more in this market. Widening the issuer base Banks should be allowed to issue bonds of maturity over 5 years based on their asset liability as they are allowed to issue bonds over 5 years only for financing infrastructure sector. Development of derivatives market Corporate, banks and other financial intuitions can reallocate the risk with the help of derivatives. Exchange traded derivatives perform different role to play in debt market and have to be standardised products because of their nature. If we discuss the OTC, they can be changed according to the situations. Hence both derivatives play vital role in the development of the market. Governments Investors should be provided by the repo market that will help them to manage short- term capital requirements. Market making By supporting corporate debt market, market making should be encouraged and it can be done with the help of primary dealers to do this job. Listing norms to be eased For already listed entities, there listing norms should be simpler; they should be allowed an abridged version of disclosure. However, companies which are not listed and which are opting for the private placement mode should be subjected to stringent disclosure norms. The practice of suspension of trading/delisting of securities in case of non-compliance with listing norms by an issuer needs to be replaced by heavy penalties on the promoters and directors of the erring company. Developing a trade reporting system A data base system is needed that publicize and store all the information related to trade in corporate bonds. So that all the transaction should be done through this system. Trading, clearing and settlement mechanism: A healthy trading policy would go a long way in facilitating efficient price discovery in corporate bonds as it created in depth and vibrancy to market along with the development of corporate bond markets by minimising the counterparty and settlement risk. In India, we have the opportunity to build up first- rate credit rating institutions. Specialized debt funds for infrastructure financing For infrastructure financing, specialised debt funds should be created with the same tax providing facility as provided by the venture capital fund that is registered SEBI. Developing a market for debt securitization: Indian government should make efforts to settle the uncertainty in taxation issues; this will help in developing a market for debt securitization. Cost of Issuance Majority of the issuers choose private placement due to the high cost of issuance. So the stamp duty should be trim down. Standardization In order to reduce transaction cost, standardized trading and settlement processes should enhance liquidity that also helps in improving market liquidity. These are some factors that are missing in Indian micro structure. Bond measurement techniques Bond yield: The return on which an investor will receive by holding a bond to maturity. So if you want to know how much your bond investment will earn, you should know how to calculate yield. The investor can decided on his earnings by calculating the yield. Below are the useful calculations that are required for the investors: Calculating Current Yield: If investor purchased a bond with a par value of $100 for $95.92 and that bond paid a coupon rate of 5%, by using the above formula we can calculate its current yield: If bond is at discount or premium By taking same data from the first example, and considering maturity period of 30 months and a coupon payment of $5 we can calculate current yield as shown below: Since the bond is at discounted price the adjusted current yield is 6.84% which is higher than the current yield 5.21% and their by investor gets more earnings Coupon payment for a zero-coupon bond  n = years left until maturity When zero-coupon bond is considered having the future value of $1,000 that matures in two years and currently available at $925, one can calculate its current yield with the following formula:  Calculating Yield to Maturity {YTM} YTM is the interest rates by which the present values of all the future cash flows are equal to the bonds price.  Its value is derived by the following equation. OR Example 1: You purchased a bond having par value of $100 which has current yield of 5.21% as is priced at $95.92. It pays semi annual coupon of 5% and matures in 30 months. The above problem is solved as shown below: 1. Determine the Cash Flows:   coupon payment obtained for every six months are $2.50 (0.025*100). In total, for five payments, calculate cash flows along with the future value of $100. 2. Plug the Known Amounts into the YTM Formula:  Note: semi-annual interest rates are calculated as the bond pays the coupon semi-annually. 3. Guess and Check:  Now we have to calculate I or the interest rate by considering bond price and the yield rather than picking the random numbers. When the value of the bond is at par, the interest rate is equal to the coupon rate. If the value is above par (at a premium), the coupon rate is said to be greater than the interest rate. In our example, the bond is at discount so the annual interest rate must be greater than the coupon rate of 5%. Now by using the different interest rates which are greater than 5%, we obtain the different bond prices as shown in the table. Since our bond price is $95.52 that lies between 6% and 7% we have to form a new table of more interest rates that lies between 6% and 7%. When the interest rate is 6.8% the bond price matches $95.92.Hence the semi annual interest rate is 3.40 % By using these calculations investors can decide on their earnings based on their investment capacity, holding period, and the interest they want to earn. Since the bond markets are more secured because of the involvement of government, the returns are guaranteed and low when compared to the stock market.