The Accounting Fraud At Worldcom Essay - 1349 Words

From the time of WorldCom’s inception there always seemed to be a tradition in management as if the company was only 100 or so employees. There was a â€Å"good old boys† mentality among the limited few running the company and if you were outside that circle then were told only what they wanted you to hear. An unspoken rule among employees was to do what you were told without questions or risk the consequences. One example of this situation occurred when senior management member Gene Morse told an employee â€Å"If you show those damn numbers to the f****ing auditors, I’ll throw you out the window† (Kaplan, R.S., Kiron, D., 2007, p. 3).WorldCom showed no concern regarding an employee’s need and obligation to voice concerns on matters related†¦show more content†¦P., Coulter, M. K., 2012, p. 152), although it seems none of WorldCom’s executive management team seemed to feel this way. Many steps could have been taken to prevent the collapse of the WorldCom empire, but only a few key managers held the power and none were willing to take action. One control that did not exist in WorldCom’s culture was allowing both internal and external auditors access to all necessary documents and statements. Without full disclosure of these items no one could see how many risks the company was taking by making fraudulent entries against their books. Also the external audit team, Arthur Anderson, held WorldCom as one of its best customers which was a major conflict of interest. This relationship lead to many fundamental mistakes from Anderson not keeping pressure on WorldCom and getting all vital information that would prove how poorly the company was being run. Had they been operating transparently, auditors and employees would have seen the accounting deception and could potentially have stopped it prior to the company’s collapse. In addition, by employing multiple auditing firms many of the mistakes being made may have been caught and discontinued from the beginning. Corporate Responsibility The lack of critical information making its way down the chain allowed WorldCom to continue its clouded disservice toShow MoreRelatedAccounting Fraud at Worldcom8726 Words   |  35 PagesROBERT S. KAPLAN DAVID KIRON Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather, there was a broad breakdown of the system of internal controls, corporate governance and individual responsibility, all of which worked together to create a culture in which few persons took responsibility until it was too late. — Richard Thornburgh, former U.S. attorney general1 On July 21, 2002, WorldCom Group, a telecommunications companyRead MoreAccounting Fraud at Worldcom 21405 Words   |  6 PagesAccounting Fraud at WorldCom Vanessa Gail Woods Strayer University Connor-Green/ACC 576 March 21, 2010 Accounting Fraud at WorldCom The break up of ATT opened the long distance service market to small companies during the mid- to late-1980s and 1990s. Long Distance Discount Service (LDDS) opened in 1983 with moderate growth until its stock went public in 1989. CEO Bernie Ebbers decided to grow the organization through acquisitions (70 companies over the course of its lifetime)Read MoreAccounting Fraud at Worldcom 33346 Words   |  14 PagesAccounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to â€Å"cook the books?† After the rapid evolution of the telecommunication industry in the 1990s, WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result, their Expense-to-Revenue (E/R) Ratio was their measurement for their main objectiveRead MoreThe Case About Accounting Fraud At Worldcom1964 Words   |  8 Pagesthe analysis of the case about Accounting Fraud at WorldCom Group member: Weichuan Xu Miao zhou 1. What are the pressures that lead executives and managers to cook the books? Firstly, one of the pressure is the company’s goal that was made by the top executive Ebbers. There is an economic recession and the bubble collapse which make the conditions deteriorate in 2012. He thinks that the company should focus on being the NO.1 stock on Wall street rather than the company’s really good operationRead MoreAssignment # 3 Worldcom Accounting Scandal1486 Words   |  6 PagesAssignment # 3 WorldCom Accounting Fraud By Mark A. Cowan Strayer University ACC 499- Accounting Capstone May 15, 2011 The purpose of this paper is to discuss the aspects of the WorldCom accounting scandal and the effects that this scandal had on the accounting world as we know it. We will discuss the corporate culture at WorldCom and how it contributed to the accounting fraud, how the CEO’s desire to be the #1 stock on Wall Street contributed to the fraud, pressures on accountants to bookRead MoreAccounting Scandal of Worldcom940 Words   |  4 PagesMANAGERIAL ACCOUNTING WORLDCOM How did it cook the books? Nguyen Bao Khanh Student ID: FB60162 Class: FB0662 May 19th, 2012 APENDIX 1. WorldCom’s accounting scandal 2. How did WORLDCOM cook its books? 3. Conclusion WORLDCOM headquarter in Virginia, USA. WORLDCOM’S ACCOUNTING SCANDAL WorldCom, established in 1983, whose CEO was Bernard Ebbers, was the second largest long distance phone company in the US after ATT. It could be seen as a pride of America until it got into oneRead MoreDo Big Companies Take So Much From Each Other?1328 Words   |  6 Pagessubsidiary of Verizon Communications. In the article World-Class Scandal At WorldCom by David Hancock he discusses how â€Å"The corporation was formed as a result of the fusion of WorldCom and MCI Communications corporations, and used the name MCI WorldCom for a while and was succeeded by the WorldCom Company, before changing its name on April 12, 2003, as part of the corporation s ending of their bankruptcy status.† WorldCom Inc. began as a small Mississippi telephone service provider of long distanceRead MoreWorldcom Failure1198 Words   |  5 PagesWorldCom Failure in relation to its Organizational Behavior LDR/531 - Organizational Leadership October 7, 2010 WorldCom Failure in relation to its Organizational Behavior INTRODUCTION Year 2002 saw an unprecedented number of corporate scandals: Enron, Tyco, Global Crossing, etc. In many ways, WorldCom is just another case of failed corporate governance, accounting abuses, and outright greed. Many people may question if there is a secret to operating a successful business in modern times.Read MoreWhy Do Big Companies Take So Much From Each Other?1330 Words   |  6 Pagessubsidiary of Verizon Communications. In the article World-Class Scandal At WorldCom by David Hancock he discusses how â€Å"The corporation was formed as a result of the fusion of WorldCom and MCI Communications corporations, and used the name MCI WorldCom for a while and was succeeded by the WorldCom Company, before changing its name on April 12, 2003, as part of the corporation s ending of their bankruptcy status.† WorldCom Inc. began as a small Mississippi telephone service provider of longRead MoreWorld Com Analysis1472 Words   |  6 Pagesexecutives and managers of WorldCom to cook the books. Acquisition of other companies drove WorldCom to spend beyond their means; managers were told to spend whatever was necessary to increase revenue, even if it meant that long-term costs would outweigh the short-term gains. This fiscally unhealthy mentality led to a very bad decision to enter into long-term fixed rate leases for network capacity with extensive punitive termination provisions. Once the market for WorldCom s services started to cool

Short Story Theme Of Eve In Darkness - 1344 Words

Trenton Brown Mrs. Washburn English 10 October 2017 Themes Short Story Title: Eve in Darkness Short Story Theme: The understanding of sin. I think the theme of this story is the understanding of sin. The author reveals this through actions and events in the story. The main character of the story has seen and experienced instances of sin. For example, she handled the snuff boxes which she had been forbidden to touch (Lass 19). This form of sin that she committed would be considered disobedience. Another example is when she had made fun of the paperboy and was told that he was less fortunate that she (Lass 19). She was not fully aware of her sinfulness until she was told what sin was and had really thought about it (Lass 23). Once she†¦show more content†¦The theme of this story in my opinion was showing kindness to others and receiving it in return. The author revealed this theme through the actions and events of Mr. Johnson. For example, Mr. Johnson had watched a woman’s child while she monitored the movers load up a moving truck with her furniture and other items (Lass). This showed Mr. Johnson willingness to sacrifice his own time to help another person. Another example is when a woman that was in a hurry bumps into Mr. Johnson accidentally on the way to her job because she was running late for work and Mr. Johnson offered to pay her the same wages that she would be paid at her job for one day’s work (Lass). In my opinion, he did not have to offer this to the woman but it was his kindnesses that lead him to do this good deed. Lastly, Mr. Johnson brings two people together by just fixing their problems and having them to meet each other (Lass). This example shows how acts of kindness can lead to other positive outcomes. I wish more people could be like Mr. Johnson. Characters Short Story Title: The Secret Life Of Walter Mitty Character’s major conflict type: Character vs. Self Character’s major conflict: Walter Mitty and his imaginations. The conflict type in this story is character versus self. This story’s conflict is between Walter Mitty and himself. He has many imaginations throughout this story where he imagines himself in them. For example, the firstShow MoreRelatedTheme Of Young Goodman Brown1021 Words   |  5 Pagessinning. Humans are by nature sinners and susceptible to evil since the fall of Adam and Eve. The short story â€Å"Young Goodman Brown† by Nathaniel Hawthorne depicts the theme of hypocrisy in the Puritan society and fall into temptation as the protagonist, Young Goodman Brown ventures out into the dark woods to join an evil ceremony. As a faithful, pious Puritan, Goodman Brown is easily swayed into the darkness of the woods which illustrates the corruptibility of the Puritan society and human natureRead MoreYoung Goodman Brown Analysis876 Words   |  4 PagesHawthorne’s story, â€Å"Young Goodman Br own,† appears to be a story about original sin with a lot of symbolism tied in to make it an allegory. An allegory is a story that can be interpreted in different ways to find the hidden meaning behind the symbolism in the story. The three things focused on throughout the short story is Faith, the forest that Goodman Brown takes his journey through, and the staff, which the old man who leads Goodman Brown on his way carries. The short story, â€Å"Young Goodman BrownRead MoreAraby, By James Joyce956 Words   |  4 PagesIn the short story â€Å"Araby,† James Joyce uses religion to give a the story deeper meaning. The narrator of the story finds himself in a confusing love that is unrealistic and distorted. In â€Å"Araby,† Joyce uses an underlying theme of religion to portray a confusing admiration that is brought to a twisted end. Throughout â€Å"Araby† there is an underlying theme of religion. The boy himself lives with his uncle who is feared by the other kids on the street. If he is seen the kids â€Å"hid in the shadows† untilRead MoreA Loss of Faith (Young Goodman Brown)1472 Words   |  6 PagesA Loss of Faith The short story â€Å"Young Goodman Brown† functions as an allegory of the Biblical fall of man, from which Nathaniel Hawthorne draws to illustrate what he sees as the inherent fallibility and hypocrisy in American religion. Hawthorne sets up a story of a man who is tempted by the devil and succumbs because of his curiosity and the weakness of his faith. Throughout the story Goodman struggles, not only with his Faith in Religion but also, his faith in people. The characters (GoodmanRead MoreAraby, By James Joyce1013 Words   |  5 Pages James Joyce’s short fiction, â€Å"Araby†, speaks of the loss of innocence when one enters adulthood. The narrator of â€Å"Araby† reflects back to his childhood and the defining moment when he reached clarity on the world he stood before. The young boy, living in a world lifeless and religious influence, becomes consumed with the lust of a neighbouring girl. The girl, Mangan, is symbolically the narrator’s chil dhood obsession with growing up. As she resembles the desire to become an adult, the Araby is theRead More Symbols, Setting, and Ironies of Joseph Conrads Heart of Darkness1201 Words   |  5 PagesSymbols, Setting, and Ironies of Heart of Darkness   Ã‚   Joseph Conrads novel, Heart of Darkness, is about many things: seafaring, riverboating, trade and exploration, imperialism and colonialism, race relations, the attempt to find meaning in the universe while trying to get at the mysteries of the subconscious mind. Heart of Darkness is a vivid portrayal of European imperialism.   The book in other words is a story about European acts of imperial mastery (1503)-its methods, and the effectsRead MoreLiterary Analysis Of Hawthorne s Young Goodman Brown 1175 Words   |  5 PagesGoodman Brown† â€Å"Young Goodman Brown† is a short story written by Nathaniel Hawthorne, and was set during the 17th Century Puritan Era. The story was published in 1835 during the Romantic Era. Nathaniel Hawthorne was known for being the master of symbolism. His novels and short stories have been embedded with suggestion and imagination. The dense symbolism that Hawthorne writes could imply multiple interpretations. â€Å"Young Goodman Brown† has quite a few themes and symbols within itself. Faith, YoungRead More Death in Stopping by Woods on a Snowy Evening Essay679 Words   |  3 Pageschains and ropes with which the trials and tribulations of life bind the human race. Death is a powerful theme in literature, symbolized in a plethora of ways. In Stopping by Woods on a Snowy Eve Robert Frost uses subtle imagery, symbolism, rhythm and rhyme to invoke the yearning for death that the weary traveler of life feels.    When the speaker in Stopping by Woods on a Snowy Eve pauses for a moments rest, he does not do so on a simple evening, but on the darkest evening of the yearRead More A Comparison of the Divine in Gilgamesh, the Old Testament of the Bible, and Metamorphoses1132 Words   |  5 Pagesform, and void; and darkness was upon the face of the deep. And the Spirit of God moved upon the face of the waters, (51) which was created by Him in six days (47), Thus the heavens and the earth were finished, and all the host of them. And on the seventh day God ended his work which he had made (52).    Though the Hebrew God is all-powerful, He creates human kind to have free will (47). This free will can be seen in the story of Adam and Eve. Gods warns both Adam and Eve that they can eatRead MoreThe Use of Color Symbolism by Nathaniel Hawthorne Essay1024 Words   |  5 Pagesevident in the story by Nathaniel Hawthorne, â€Å"Young Goodman Brown†. Nathaniel Hawthorn’s work is immersed with symbolism with most of it deriving from his Puritan beliefs. The themes of sin, guilt, innocence, and lust come forth through the uses of color symbolism as well as visual clues. All of these things are dealt with in everyday life in modern America. â€Å"His ability to create vivid and symbolic images that embody great moral questions appears strongly in his short stories.† (Bloom) To

I am My Language Free Essays

For every language that becomes extinct, an image of a man disappears† – Octavio Paz. Language is tied to many cultural backgrounds, heritage, and can form one’s identity. When a language is extinct or becoming extinct the culture, the history, and the people behind it disappear. We will write a custom essay sample on I am My Language or any similar topic only for you Order Now People come from â€Å"different countries that speak different languages, these different ways of communicating is a way to express themselves their thoughts and emotion freely. Losing a language can be detrimental because language expresses one’s identity and that is the essence of language. In both readings, â€Å"How to Tame a Wild Tongue† by Gloria Anzaldua and â€Å"If Black English Isn’t a Language, Then Tell Me What Is† by James Baldwin explain the deeper meaning behind language and extreme efforts to assimilate that would cause one to reject and or lose one’s identity. Language can play a small role in how individuals’ identities are formed. Language is a part of identity it has an impact on our personality which originates from different type languages in every nation such as dialects, accents, and terminology. In the first reading, â€Å"How to Tame A Wild Tongue† by Gloria Anzaldua she expresses the different languages she speaks or is compelled to speak. For example, Gloria states the language she uses are Standard English, working class and slang English, Standard Mexican Spanish, Chicano Spanish, and others. Gloria discusses being caught in the middle using her native tongue that is Chicano Spanish. English including the clash between the two cultures. â€Å"Until I am free to write bilingually and to switch codes without having always to translate, while I still have to speak English or Spanish when I would rather speak Spanglish†¦Ã¢â‚¬  (Anzaldua 39). In this quote Anzaldua does not want to be limited on how many languages she speaks, she also believes a person language will forever be a part of their identity. In addition, she believed that people shouldn’t have to change their identity, but they should embrace their culture because it’s part of what makes an individual unique. â€Å"Chicano Spanish sprang out of the Chicano’s need to identify we as a distinct people† this reveals that the Chicano Spanish is their legitimate identity that differentiates the people itself from both English and Spanish. This means that language forms identity for Chicano people to have a distinct language for themselves that relates to their cultural identity with  Chicano Spanish. Identically, Language can play a huge role in people live it can either unites them or separates them. â€Å"The limits of my language mean the limits of my world† by Ludwig Wittgenstein. In other words, this quote means that language is a form of expression that demonstrates cultural diversities of people from different countries. For example, limiting languages of the world can create barriers and can make it difficult for people to experience other  traditions. For instance, In the second reading â€Å"If Black English Isn’t a Language, Then Tell Me What Is† by James Baldwin he explains how drastic lifestyles can shape one’s language depending on the situation. In Baldwin article, he also explains how Black English was created. In this time, the whites did not want to give the slaves the opportunity learn how to read or write. Nor did they allow them to communicate with each other in their languages because they believed that education will lead the slaves to power. To demonstrate, Slavery dates to the 15th entury where many Africans were kidnapped from different tribes and was enslaved. Africans was from different tribes it was difficult from them to communicate or express concern with one other. This led to the creation of Black English. Furthermore, how important is language to one’s sense of identity? A sense of identity is perceived through language, ethnicity, race, and religion. Language creates one’s identity and can be altered by various circumstance whether it’s a hostile or friendly environment. Demonstrate this concept â€Å"It is the most vivid and crucial key to identify: It reveals the private identity, and connects one with, or divorces one from, the larger, public, or communal identity† (Baldwin). This quote reveals that language can either create bonds with other different types of people or can set them apart. Baldwin also states, â€Å"A language comes into existence by means of   brutal necessity, and the rules of the language are dictated by what the language must convey† (Baldwin). In other words, this means that when the slaves from the different tribes over the years they created Black English to communicate with one another in a form they can only understand each other. Black English was formed in a violent circumstance it benefited by creating a new form of language. In conclusion, both Anzaldua and Baldwin, explain the struggle of dealing with a hybrid identity formed by language. Both writers expressed how the different type of languages can create one’ identity willingly or with â€Å"brutal necessity†. Baldwin explains how the violent creation of Black English brought the different sets of the tribe together as one. Anzaldua talks about adjusting with two identities and finding pride speaking different types English and Spanish while keeping her native tongue intact. Both writers showed the different perspectives on the role of language by discussing the ways the African – Americans assimilate an identity with Black English and Chicano people with Spanish. Work Cited Anzaldua, Gloria. â€Å"How to tame a wild tongue† Everett’s. PDF. Page: 36-39 Baldwin, James. â€Å"If Black English Isn’t a Language, Then Tell Me, What is?† The New York Times. 29, July, 1979. How to cite I am My Language, Papers

Money and Foreign Exchange

Questions: A US importer will have a net cash outflow of EURO2,500,000 in payment for goods bought in January 2015 (assumed to be 0.25 years away). The importer wishes to hedge this risk to avoid the exchange rate risk and is considering hedging using (i) at the money call options on the pound; (ii) a forward contract and (iii) a combination of calls and puts.The prevailing market data is given below:Market Data (1st October 2014)Spot Exchange Rate = $1.2596/EuroThree month Euro interest rate = 0.1% p.a.Three month US Dollar interest rate = 0.3% p.a.Premium on a May Euro Call Option, Strike = $1.24/Euro = 2.89 cents/EuroPremium on a May Euro Call Option, Strike = $1.26/Euro = 1.72 cents/EuroPremium on a May Euro Call Option, Strike = $1.28/Euro = 0.91 cents/EuroPremium on a May Euro Put Option, Strike = $1.24/Euro = 0.87 cents/EuroPremium on a May Euro Put Option, Strike = $1.26/Euro= 1.70 cents/EuroPremium on a May Euro Put Option, Strike = $1.28/Euro = 2.89 cents/EuroRequired:1. What is meant by covered interest parity? Using the data above calculate a three month forward rate to buy Euros for dollars.2. Explain, using the market data above, how call options on foreign currenct can be used to establish a ceiling price when purchasing foreign currency and how put options can be used to establish a floor price when selling foreign currency.3. Consider, using the market data above, the obligations on the SELLER of each of these calls and puts if the option were to be exercised. Identify the circumstances when the options would be exercised. Answers: 1. Covered Interest Parity Covered Interest Parity is such situation where the interest rate becomes almost equal to currency value of two nations. In such situation, any arbitrage opportunities or return cannot be possible to earn doing trading between the currencies of two countries (Aizenman, J. and Hutchison, M. 2010). As for example, the currency value and interest rate of Country A and Country B are same. The interest rates of Country A and Country B are respectively 10% and 7%. An investor borrows a certain amount in the currency of Country B and he thinks to invest the money in the currency of Country A. So, it is required to convert the money with spot price of Country A. For the repayment of borrowing money, the investor needs to go for a forward back for bringing back the money from the currency of Country A to Country B. At that time, the inventors cannot earn any profit due to existence of covered interest parity. Covered interest parity eradicates the entire profits from the trading of currency (Chandler, M. 2009). Calculation of Forward Rate Forward is the currency exchange rate for future. A commercial bank gives guarantee to exchange the currency of a country to another currency of a country and obviously at a specified future date. It is calculated on the basis of spot price of currency (Chen, J. 2009). Forward can be calculated by using following formula: Where, S is spot exchange rate of two countries. rd is domestic interest rate rf is foreign interest rate Given, Spot Exchange rate is $1.2596/Euro Three months Euro interest rate is 0.1% p.a. Three month US Dollar interest rate is 0.3% p.a. It is assumed that the total number of days in a year is 360 (Croke, L. 2009). So, the forward rate is calculated as follows: =1.2589 Therefore, the three months forward rate of Dollar and Euro is 1.2589. 2. Establishment of Ceiling Price through call options on foreign currency when purchasing Ceiling price is the highest price where buyer has to pay for buying the options. Ceiling price is the highest price limit where sell can charge against an option (Cuhaj, G. 2009). If the ceiling is price is greater than the current spot price than buyer of the call option can exercise the options. Ceiling Price = Strike Price + Premium Strike price is price of a option which is the particular price at which the currency option can be purchased or sold by the possessor or the purchaser of the option contract (Davidson, A. 2009). Usually, the strike price is set which is closer to current spot price. Premium is a price which is paid by the buyer of an option for right to buy or sell the option. The premium price is paid to seller of an option (Dobeck, M. and Elliott, E. 2007). Strike Price Premium Ceiling Price Situation $1.24 0.0289 $1.27/Euro Ceiling Price Spot Price $1.26 0.0172 $1.28/Euro Ceiling Price Spot Price $1.28 0.0091 $1.29/Euro Ceiling Price Spot Price Here, the spot price is $1.2596/Euro. It is observed in the above table that the all the cases have the ceiling price greater than the current spot price of option. So, the buyer may not exercise the option. Establishment of Floor Price through put options on foreign currency when selling Floor price is the lowest price at which seller of the option allows to sold the option. If the floor price is less than current spot price the seller of the put option would not exercise the option (Fabozzi, et al, M. 2002). Floor Price = Strike Price Premium Strike Price Premium Floor Price Situation $1.24 0.0087 $1.23/Euro Floor Price Spot Price $1.26 0.017 $1.24/Euro Floor Price Spot Price $1.28 0.0289 $1.25/Euro Floor Price Spot Price In the above table, it can be seen that the all the case of put options have the floor price is less than the current spot price of option. So, the seller may not exercise the option (Homberg, D. and Troltzsch, F. 2013). 3. Obligations on the Seller of given each calls and puts Seller obligation on call options The obligation of seller is to sell the underlying security if the call option is exercised by the call purchaser on or before the expiry date of option (Jacque, L. 2010). If the spot price is less than equal to exercise price or strike price, the seller only can earn the premium amount from the call option (Landuyt, G. et al R. 2009). When the spot price of currency call option is greater than the strike price or exercise price, the seller may have to bear loss beyond the premium amount (Makin, A. 2009). In case of Spot Price Strike Price, Sellers Payoff for Call Option (US$/Euro) = Premium Price In case of Spot Price Strike Price, Sellers Payoff for Call Option (US$/Euro) = Spot Price - (Strike Price + Premium) Strike Price Premium Spot Price Payoff $1.24 0.0289 $1.2596 ($0.0093) $1.26 0.0172 $1.2596 $0.0172 $1.28 0.0091 $1.2596 $0.0091 According to the above table, it can be observed that the payoff of selling a call option is negative. So, at strike price of $1.24, seller has to bear loss of $0.0093 if it is exercised by the call buyer (Neaime, S. and Colton, N. 2005). At strike price $1.26; the seller can earn the profit equal to premium price $0.0172 if the call holder exercises the option. At strike price $1.28; the seller also can earn only the premium price $0.0172 if it is exercised by the call buyer. Seller obligation on put options The obligation of seller in case of put option is to purchase the underlying security if the pet option is exercised by the put holder on or before expiry date (Rebonato, et al 2009). If the spot price is less than equal to exercise price or strike price of a put option, the seller may earn or may have to bear the loss. The loss or earnings depends on the premium amount of the put option. When, the spot price is greater than the strike price, the seller can earn only the premium amount of put option (Ramaswamy, S. 2011). In case of Spot Price Strike Price, Sellers Payoff for Put Option (US $/Euro) = (Spot Price Strike Price) + Premium In case of Spot Price Strike Price, Sellers Payoff for Put Option (US $/Euro) = Premium Price Strike Price Premium Spot Price Payoff $1.24 0.0087 $1.2596 $0.0087 $1.26 0.017 $1.2596 $0.0166 $1.28 0.0289 $1.2596 $0.0085 In case of strike price of $1.24, the seller can only earn the premium amount ($0.0087) of the put options if it is exercised by the put buyer. In case of strike price of $1.26, the seller can gain more ($0.0166) from selling of put option if it is exercised by the put buyer. In case of strike price of $1.28, the seller can also gain profit of $0.0085 from the selling of put option if it is exercised by the put buyer. Circumstances when the options would be exercised Buyers Payoff for a call option Strike Price Premium Spot Price Payoff $1.24 0.0289 $1.2596 -$0.0093 $1.26 0.0172 $1.2596 -$0.0172 $1.28 0.0091 $1.2596 -$0.0091 The above table describes that, the buyer has to bear loss less at $1.24 among the others strike prices. In case of others strike prices, the buyer can suffer equal to premium price. Buyers Payoff for a put option Strike Price Premium Spot Price Payoff $1.24 0.0087 $1.2596 -$0.0087 $1.26 0.017 $1.2596 -$0.0166 $1.28 0.0289 $1.2596 -$0.0085 According to the above table, it is observed that the buyer can bear loss equal to premium price at strike price $1.24. The highest loss will be at strike price $1.26. The loss is less at strike price $1.28 among the others strike prices (Senders, S. and Truitt, A. 2007). 4. Calculation on market data: Table 1: Price on expiry date Exercise price Premium in cents Pay off Exercise Price Premium in cents Pay off Net Pay Off 1.20 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.21 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.22 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.23 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.24 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.25 1.25 2.89 (2.89) 1.25 0.87 0.87 (2.02) 1.26 1.25 2.89 0.05 1.25 0.87 (0.01) 0.04 1.27 1.25 2.89 0.07 1.25 0.87 (0.02) 0.05 1.28 1.25 2.89 0.09 1.25 0.87 (0.03) 0.06 1.29 1.25 2.89 0.11 1.25 0.87 (0.04) 0.07 1.30 1.25 2.89 0.14 1.25 0.87 (0.05) 0.09 1.31 1.25 2.89 0.16 1.25 0.87 (0.06) 0.10 1.32 1.25 2.89 0.18 1.25 0.87 (0.07) 0.11 According to the table 1, the research analyst analyses that United States of American importer has hedged his money and the analyst observed that the importer has faced a loss by hedging his portfolio. The total net pay off the U.S. importer is -11.60 in cents (Singh, M. 2010). Table 2: Price on expiry date Exercise price Premium in cents Pay off Exercise Price Premium in cents Pay off Net Pay Off 1.20 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.21 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.22 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.23 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.24 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.25 1.25 1.72 (1.72) 1.25 1.70 1.70 (0.02) 1.26 1.25 1.72 (0.80) 1.25 1.70 0.53 (0.27) 1.27 1.25 1.72 (0.79) 1.25 1.70 0.52 (0.27) 1.28 1.25 1.72 (0.78) 1.25 1.70 0.51 (0.27) 1.29 1.25 1.72 (0.77) 1.25 1.70 0.50 (0.27) 1.30 1.25 1.72 (0.76) 1.25 1.70 0.49 (0.27) 1.31 1.25 1.72 (0.75) 1.25 1.70 0.48 (0.27) 1.32 1.25 1.72 (0.74) 1.25 1.70 0.47 (0.27) According to the table 2, the research analyst analyses that United States of American importer has hedged his money and the analyst observed that the importer has faced a loss by hedging his portfolio. The total net pay off the U.S. importer is -2.01 in cents (Williams, R. 2011). Table 3: Price on expiry date Exercise price Premium in cents Pay off Exercise Price Premium in cents Pay off Net Pay Off 1.20 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.21 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.22 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.23 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.24 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.25 1.25 0.91 (0.91) 1.25 2.89 2.89 1.98 1.26 1.25 0.91 (0.02) 1.25 2.89 0.04 0.02 1.27 1.25 0.91 (0.01) 1.25 2.89 0.02 0.01 1.28 1.25 0.91 0 1.25 2.89 0 0 1.29 1.25 0.91 0.01 1.25 2.89 (0.02) (0.01) 1.30 1.25 0.91 0.02 1.25 2.89 (0.04) (0.02) 1.31 1.25 0.91 0.03 1.25 2.89 (0.06) (0.03) 1.32 1.25 0.91 0.04 1.25 2.89 (0.08) (0.04) According to the table 3, the research analyst analyses that United States of American importer has hedged his money and the analyst observed that the importer has made a profit by hedging his portfolio. The total net pay off the U.S. importer is 11.85 in cents (Zeldes, S. and Geanakoplos, J. 2009). The research analyst observed that the U.S. importer has made a loss from his portfolio by hedging in different ways. From the above three table i.e., table 1, table, and table 3, the importer has made a loss of (11.6) cents from the table 1, from table 2 the importer has made a loss of (2.01) cents and from table 3 the importer has made a profit of 11.85 cents. But the total net loss made by the importer by hedging is (1.76) cents (Makin, A. 2009). References: Aizenman, J. and Hutchison, M. (2010). Exchange market pressure and absorption by international reserves. Cambridge, Mass.: National Bureau of Economic Research. Chandler, M. (2009). Making sense of the dollar. New York: Bloomberg Press. Chen, J. (2009). Essentials of foreign exchange trading. Hoboken, N.J.: John Wiley. Croke, L. (2009). I'm broke!. St. Catharines, Ont.: Crabtree Pub. Cuhaj, G. (2009). Standard catalog of world paper money. Iola, WI: Krause. Davidson, A. (2009). How the global financial markets really work. London: Kogan Page. Dobeck, M. and Elliott, E. (2007). Money. Westport, Conn.: Greenwood Press. Fabozzi, F., Mann, S. and Choudhry, M. (2002). The global money markets. Hoboken, N.J.: J. Wiley. Makin, A. (2009). Global imbalances, exchange rates and stabilization policy. Basingstoke, Hampshire: Palgrave Macmillan. Homberg, D. and Troltzsch, F. (2013). System modeling and optimization. Berlin: Springer. Jacque, L. (2010). Global derivative debacles. Singapore: World Scientific. Landuyt, G., Choudhry, M., Joannas, D., Pereira, R. and Pienaar, R. (2009). Capital market instruments ;Analysis and valuation. Basingstoke: Palgrave Macmillan. Neaime, S. and Colton, N. (2005). Money and finance in the Middle East. Amsterdam: Elsevier JAI. Ramaswamy, S. (2011). Market structures and systemic risks of exchange-traded funds. [Basel, Switzerland]: Bank for International Settlements, Monetary and Economic Dept. Rebonato, R., McKay, K. and White, R. (2009). The SABR/LIBOR market model. Hoboken, NJ: John Wiley Sons. Senders, S. and Truitt, A. (2007). Money. Oxford: Berg. Singh, M. (2010). Collateral, Netting and Systemic Risk in the OTC Derivatives Market. Washington: International Monetary Fund. Makin, A. (2009). Global imbalances, exchange rates and stabilization policy. Basingstoke, Hampshire: Palgrave Macmillan. Williams, R. (2011). An introduction to trading in the financial markets. Burlington, MA: Academic Press/Elsevier. Zeldes, S. and Geanakoplos, J. (2009). Market Valuation of Accrued Social Security Benefits.. Cambridge, Mass.: National Bureau of Economic Research.

Life Development Theories

At the time Steve Jobs had been giving his commencement speech at Stanford University he was at the middle adulthood stage of the life development cycle. This stage begins at the age of 40 years and usually ends age at the age of 65. At the time Steve jobs had been giving this speech he had been 50 years old. At this stage, the major areas of conflict are generality versus stagnation.Advertising We will write a custom essay sample on Life Development Theories specifically for you for only $16.05 $11/page Learn More This stage is generally characterized by the fact that people want the best in their lives. This can be done by getting children and making other positive changes in their lives. At this stage, a successful person will feel accomplished and a failure will feel bad about all the wasted opportunities that he or she has had in their lifetime. This will result to the individual not associating with other people and keeping to themselves. The speec h that Steve Jobs gives is not entirely consistent with the stage of life he falls in. Steve jobs talks about some of the events in his life that have helped him in life. He looks back and marvels at the accomplishments and some of the failures in his life. This is consistent with the lifespan development stage which he falls into. However, Steve Jobs talks about death in length. He talks about how he was close to his death before a surgery saved his life. This is falls in the late adulthood stage which normally occurs from the age of 65. Steve Jobs in his speech talks about some the events that have helped him develop over the years. He tells three stories. The first one is about joining the dots. In this story, he recalls of how his real and adopted parents wanted him to go to college. However, when he finally got there he dropped out since he did not see the use of spending all of his parent’s savings in college. He dropped out and was now able to attend the classes that h e really liked. He recalls how he attended a topography class at some point after he had dropped off college. He learnt a lot from this topography class but did not really know where he would apply some of the things he had learnt in his personal life. He was now able to connect the dots. This is because after some years while designing an operating system he was able to apply what he had learnt in that topography class years ago. He concludes that human beings can only connect the dots looking forward and not backwards.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More The second story was about love and lust. In this story, he recalls how he together with a friend had founded Apple. However, after some years he was fired from Apple, a company that he had co-founded. This did not stop him from doing what he liked most and went on form two other successful companies. One of companies was bought by App le and as a result he returned to Apple. It was at this time that he went on to find the love of his life. In the third story, he talks about death. He recalls how thinking about death had been helping him make important decisions in life. He also recalls of how he had been diagnosed with cancer. Initially, the doctor had told him that he would only live for a few months as the cancer he had been suffering from was incurable. However, after going through some scans days later, the doctors determined that the type of cancer he had been diagnosed with was treatable through surgery. He went through the surgery and at the time he was giving his speech he hoped to live a decade longer. He highlights the importance of death and how it changed his life. References Austrian, S. G. (2008). Developmental theories through the life cycle (2nd ed.). New York: Columbia University Press. Neukrug, E. (2012). The World of the counselor: an introduction to the counseling profession (4th ed.). Austral ia: Brooks/Cole. This essay on Life Development Theories was written and submitted by user BruceBanner to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Edgar Allan Poe and Emily Dickinson Comparison Essay

Edgar Allan Poe and Emily Dickinson Comparison Essay Edgar Allan Poe and Emily Dickinson Comparison Essay Compare And Contrast The Life And Poetry Of Edgar Allan Poe And Emily Dickinson Edgar Allan Poe and Emily Dickinson are both famous writers whose lives greatly contributed to their style of poetry writing. Edgar Poe lost his parents at a tender age of three. Later in life he struggled with alcoholism and depression due to loneliness, which formed the basis of her poetry themes. Emily Dickinson was alone writer who rarely left his home and had no visitors. Poe’s poems are characterized by a common theme of horror because he focused on bringing out the poetic effect of structure and style. Dickinson’s poems were based on the theme of loneliness, domestic lifestyle and sentimentalism. Her poems were characterized by her upbringing lifestyle and the England seventeenth century the metaphysical poems. The two poets works were similar because their poems reflected upon their lifestyle, however, they contrasted whereby Poes poems were based on the theme of horror while Dickinson’s poems reflected about the traditional lifestyle that existed at the time. Emily Dickinson’s poems characterized by at least one or more themes such as death, nature, religion, eternity or love. Dickinson’s poems have varied themes combination or unique poetic voices. Her poems have a great sense of meditation such as There’s a certain Slant of Ligh.. I know that He exists is a poem whose main theme is skeptism. I’m Nobody! Who are you? And Papa above are characterized by embarrassing poetic appeal (Pollack 30). Dickinson’s poetic style was unique that all of her poems exhibit no form of linear development and liner punctuation hence her earlier poems are equally excellent as her later poems (MacNeil614). Dickinson is writing style is characterized by lack of punctual at the end of the line hence creating enjambments that form full stanzas. Her love for dashes a creates hiatus at end or midline (Juhasz 50) Some critics perceive that Dickinson’s works defy convention because they were written during the 19th century when most of the works by women lacked themes and form. Edgar Allan Poe was a reserved poet who wrote gothic poems using a supernatural style that enhanced the melodramatic within his works (Meyer 78). Poe’s poems are characterized by a musical effect of words to the reader’s emotion as in the poem The Raven. Poe’s poems are characterized by a gloomy and threading tone. His poems lean towards tradition while maintaining gothic aspects with melodramatic, strange or evil happenings (Lovercraft 46). Poe’s horror and lack of love themes are believed to have been his personal reflection according to the lonely life that he lived. The theme of death is attributed to his sorrows after he lost his parents at a very tender age of three. Poe and Dickinson’s pomes were characterized by traditional writing styles and they all reflected upon the poet’s lonely lives. Both poets exhibited good poetic writing styles with a theme of death and lack of love. The pomes’ excellent writing style resulted in emotional poems. On the contrary, Poe was an excellent gothic poet whose poems are characterized by death, horror and uncertainty. Dickson’s poems are characterized by themes such as death, nature, religion, eternity or love although they were emotional but not horrific. Do you need quality compare and contrast essay help from academic writers? Just contact our custom writing service and get a custom comparison paper written from scratch!

Consumer Law Case Study Example | Topics and Well Written Essays - 3000 words

Consumer Law - Case Study Example Sue inquired of the sales assistant whether the labeling means the dye would be suitable for use by those with skin allergies; the assistant replies, I suppose so, that’s what it says on the telly. The statue covering breach of stipulation can be found in the Sale of Goods Act of 1979 in section 14 2(b). Implied terms about quality or fitness is where the seller sells goods in the course of a business, there is an implied condition that the goods supplied under the contract are of merchantable quality, except there is no such condition. If the buyer examines the goods before the contract is made, as regards to defects, which that examination ought to reveal.1 An implied warranty is the shorthand label used in the Product Warranty Liability Act to describe the supplier’s contractual responsibilities (or guarantees) regarding the quality or fitness of the goods. Implied warranties, which don’t depend simply on what the supplier says but are based on the consumerâ⠂¬â„¢s reasonable expectations about the goods in all circumstances. The supplier may be responsible under the implied warranty even if the supplier says nothing at all about the goods, 2 The purpose and nature of implied warranties is to protect the reasonable expectations that a buyer would have about the goods considering all the circumstances of the sale. Because reasonable expectations do not simply depend simply on what the supplier says but on other circumstances as well, implied warranties apply even when the supplier says nothing at all.... the reasonable expectations that a buyer would have about the goods considering all the circumstances of the sale. Because reasonable expectations do not simply depend simply on what the supplier says but on other circumstances as well, implied warranties apply 1Sale of Goods Act 1979 2Product Warranty Liability Act 3 even when the supplier says nothing at all.3 The issue is supported in law bySmith v. Land and HousePropertyCorporation (1884), 28 CHD 7 South Australia, where the court held; "a statement of opinion can be regarded as a statement of fact in certain situations. Such a situation will be where the maker of the statement has greater knowledge or appears by implication, to be able to support that statement.4 This case is buttressed by Dimmock v. Hallet (1866), and Bisset v. Wilkinson (1927) AC 177. Also in Schawel v. Reade (1913) 46 ILT 281, the court held that; "the strength of the inducement can be important, the more emphasis put on representation, the more likely the courts will regard this as a term".5 Also see Rutledge v. McKay (1861) WLR 615, where the court cited Section 14 (2) of the Sale of Goods Act of 1979, and in Wilson v. Rickett, Cockerall and Company LTD. (1954), the court concluded; "the goods supplied must be considered in the units and measures in which they were supplied when examining quality".6 Further in Wilson v. Rickett, the court goes on again to point out the SOGA 1979, Section 14; "that it apply only when the purchaser has relied upon the vendors skill and expertise. It

The Gala Event at Four Points by Sheraton, Darling Harbour Essay

The Gala Event at Four Points by Sheraton, Darling Harbour - Essay Example The objective is to boost the morale of the employees and the stakeholders to achieve even higher growth. With this in mind, the even logo we suggest is the symbol of â€Å"ladder† which shall be maintained at all locations, transport, hotels rooms, convention center, dining hall or wherever the group would be moving. The stakeholders that would be arriving from outstation need special consideration. To ensure maximum participation, there has to be something exciting for the guests to look forward to. The invitation itself would have to stir their imagination and make them expect something different from the usual dinners and conferences. To generate a positive emotional response, a mystical invitation would be sent out. The symbol of the ladder would serve to show heights not just in the physical life but would indicate that the event would transport them to greater heights. To ensure they have a pleasant experience at the hotel, all arrangements would be in alignment with individual needs. The invitation would carry a form with simple questions seeking their choices in certain requirements which would be provided in their rooms. The rooms too would have the symbol of the ladder and the dà ©cor would emanate a WOW from them. We can assure they would carry the memories of the event at their subco nscious level and would remember it for a very long time. Importance of site selection and venue inspection is an important part of any event planning process. Importance has not been given only to the aesthetics or physical appeal of the venue but the facilities combined with relaxation have been considered. The venue is rich in character and meets the specific business or personal needs. The location of the event has been chosen as the clients want the dinner and accommodation to be at the same location. Australia’s largest hotel, Four Points by Sheraton is ideally located and has 650 rooms and 45 suites. Thirty suites and seventy rooms will be provided.

Shariah and sufism in islam Essay Example | Topics and Well Written Essays - 1500 words

Shariah and sufism in islam - Essay Example quires one to accept the laws of Shariah wholeheartedly and a Muslim should be spiritually involved in making all possible efforts in order to follow the rules of Shariah. Shariah stands as the highest level of goodness one can achieve in this world, and to a Muslim nothing is more important than following Shariah. Shariah gives the Muslims a complete code of life, and guides the Muslims on all matters of this world and the world hereafter. Muslims seek guidance for their matters of daily life from two main sources. First, their Holy Book Quran. Second, the Sunnah of their Holy Prophet Muhammed (P. B. U. H.). The Muslims’ consideration of the Holy Quran is as follows. Every machine we purchase comes with a hand book that mentions every thing about that machine and guides the buyer on how to use the machine so that it would function safely and efficiently throughout the estimated life of that machine. The hand book gives complete information about what temperature and surroundi ngs should the machine be used in, what is the maximum load the machine can take, what precautionary measures should be taken to ensure the machine’s safe functioning and also provides the user with guidance on the matters of repair and maintenance. Likewise, when Allah Almighty created human beings, He gave them a complete book to follow throughout their life. Allah named His Book â€Å"Quran†. He sent the Holy Quran for all human beings to seek guidance from through His Prophet Muhammed (P. B. U. H.). The Holy Quran serves as a complete guide for all human beings. It is a written form of Allah’s interaction with humans. Through the Holy Quran, Allah has conveyed his message to the human beings. Allah has mentioned in the Holy Quran how the humans are supposed to live their life. The Quran provides guidance on all matters in all walks of life. Hence, it is the guide sent for the human beings just like the hand book that comes with a machine as mentioned in the example quoted above.

Facing challenges of change at British Airways

Facing challenges of change at British Airways Airline business is a difficult company. It has been well-known in the direction of being the mainly economical company in all over the world. Marketing executive must also be ready for action on the way to manage through the challenges of this variety of business. British Airways is one of the market influential within the airlines industry in U.K. The corporation has it huge opportunity. The airline is dedicated towards quality-service. In count, it has its aggressive advantages. British Airways has enormous opportunity of increasing and getting better of its services. In this we discuss about the various challenges of change faced by the British Airways and in what way it is approaching the procedure of change. Introduction: British Airways is one of the leading airlines in the world. This case traces the airlines history and discusses the process of turnaround during the 1980s under the leadership of Lord King and Colin Marshall.   The case also discusses the subsequent turbulent period under CEO Bob Ayling and the challenges faced, including recession, competition, terrorism and the Gulf war. The case closes with an outline of the tasks ahead of the incumbent CEO Rod Eddington. The case can be used to illustrate the importance of leadership in bringing about cultural change. Challenges faced by British Airways: The economic conditions that prevailed throughout 2009/10 were the most severe they have ever encountered. As a result of the worst recession for 60 years, their industry has faced a series of permanent structural changes that have drastically reduced their revenues in the short term and have permanently changed the economics of running a premium airline. These problems are in themselves formidable. But, in addition, British Airways faced a list of daunting challenges of its own. These included the need to: à ¢Ã¢â€š ¬Ã‚ ¢ Raise finance at a time of continuing crisis in the debt markets; à ¢Ã¢â€š ¬Ã‚ ¢ Radically reduce their historic cost base; à ¢Ã¢â€š ¬Ã‚ ¢ Change working practices; à ¢Ã¢â€š ¬Ã‚ ¢ Complete their planned merger with Iberia; à ¢Ã¢â€š ¬Ã‚ ¢ Win an acceptable anti-trust agreement to cooperate with American Airlines and Iberia on North Atlantic routes; and à ¢Ã¢â€š ¬Ã‚ ¢ Tackle their  £3.7 billion pensions deficit successfully. Twelve months on, they can feel satisfied that on every one of these issues, they have either tackled or made significant progress in overcoming the challenges they faced. Permanent change They entered the recession financially strong and with their fleet replacement plans fully financed to 2013. In August 2009, they successfully raised  £350 million through a convertible bond issue, providing them with the finance to keep investing in their business and maintain their focthem on excellent service as the recession runs its course. Over the year they reduced their unit costs by 6.5 per cent. Their fuel bill fell by nearly  £600 million, accounting for a large element of this decrease. Unit costs excluding fuel also fell by 1.8 per cent. This was truly a remarkable achievement. It is hard enough to cut costs when capacity is rising; to do so when capacity is in sharp decline is very difficult indeed. Their cost base is now far more competitive, meaning they are well placed to achieve more profitable growth in the future. They successfully carried the majority of their workforce with them in making changes to working practices, including their pilots and engineers. A number of staff have left the Company on voluntary terms. They have succeeded in introducing permanent cost reductions across the airline, including reductions in crew complements. Regrettably, these changes were met by unjustified strike action by Unites cabin crew branch. BASSA misrepresented the Companys position to its members, failed to represent the views of the majority of cabin crew and has been intent on a confrontation with the airline. The vast majority of their employees recognise the need for permanent change and have shown great commitment to British Airways during this difficult year. Their relationship w ith Iberia is very strong and they have now signed a merger agreement that they know will bring real benefits to their respective customers and shareholders and protect the brands of the two airlines. If remaining technicalities are successfully dealt with, as they fully expect, the merger should be concluded by the end of 2010. Similarly, all the signs are that they can win anti-trust immunity from the THEM Department of Transportation along with regulatory approval from the EU competition authorities, to operate a joint business with American Airlines and Iberia over the North Atlantic. When in place they will be able to operate on equal terms with Skyteam and Star Alliance that already enjoy immunity. Their agreement will mean more competition not less, and greater choice for travellers on these busy routes. Finally, they are progressing with negotiations to agree a way to fund their  £3.7 billion pension deficits that satisfies the Trustees and meets their requirement that they will not have to increase their contribution to the schemes in the short term. Whilst the valuation has been agreed with the Trustees, it is currently under review by the Pensions Regulator. If they can keep the schemes open for existing members it will be a significant achievement and one that has eluded many other businesses in recent years. I hope you can see how huge an agenda of change they have tackled. In that sense, 2009/10 was a year of great achievement. Financial results Their progress is all the more remarkable at a time when all their principal business customers changed their travel olicies at the same time, turning their back on premium shorthaul travel and reducing their revenues by  £1 billion. Against that backdrop, they recorded another year of heavy losses in their business. They recorded their biggest ever half year loss of  £292 million. Early and far-reaching action on costs began to show through in the second half of the year and they were even able to post a small operating profit in the third quarter. For the year as a whole their pre-tax losses stood at  £531 million compared with a loss of  £401 million in the preceding year. They cannot afford to lose sight of the scale of their losses in the last two years, even though they came on the back of record profits in 2007/08. Their business simply will not survive long term unless they stop losing money on this scale. Dividends and executive pay The programme of change they are pursuing in the business is all about making sure they have the resources to deliver outstanding service to their customers, secure and rewarding employment to their staff and strong returns to their shareholders. Given the state of their market they have frozen pay across the airline for two years. They have once again decided it would be inappropriate to pay a dividend or executive or staff cash bonuses. Customer focus Their primary focthem must remain on their customers no matter how severe the economic conditions they face. The customer is at the very heart of their plans to build an efficient global premium airline and to achieve lasting and sustainable profitability for this business. During the year, they continued to outperform in their punctuality scores, not just at Terminal 5, but across the network. Maintaining that record has involved some magnificent work by people right across the business and they take immense pride in their achievements. Their customer service scores remain strong despite significant operational disruption. An industry in transition Consolidation will be a growing theme for their industry for the foreseeable future and they are pleased with their own progress in building new partnerships and alliances. But progress on liberalising the global industry remains painfully slow, nowhere more so than in the recent protracted Open Skies negotiations between the THEM and Europe. They had hoped that the conclusion of the EU-THEM second stage negotiations would have resulted in the immediate removal of THEM restrictions on ownership and control and the protectionist Fly America policy. Unfortunately, instead of the ambitious agreement that had been promised by both sides that would have acted as a template for further global liberalisation across other trading blocs, they have ended up with an agreement that fails to deliver a truly open market for aviation. This represents a missed opportunity to create a healthier and more efficient industry for the future. Indeed, the only hope for progress may lie in moving the issue to a more powerful arena such as the Trans Atlantic Economic Council where Europe could offer wider trade concessions, i n sectors such as agriculture, in return for progress on air transport. These restrictive ownership and control requirements that prevent cross-border airline mergers, need to be consigned to the history books and fast. Only then will they see the true benefits that normalisation of the industry can achieve as is already the case with other sectors of the global economy. Climate change As a company they have led the way in searching for real and radical ways to tackle climate change. Not only have they set ourselves industry-leading targets to cut their own emissions, they are also strong advocates of carbon trading and believe aviation should be part of a global emissions trading scheme. The Climate Change Summit in Copenhagen in December presented the industry with an ideal opportunity to come together and make this a reality. For many reasons the outcome from the summit was disappointing not least as no reference was made to the airline industry. However, it is clear the governments of the world recognise the airline industry is taking a responsible position and is indeed ahead of its regulators in wanting to tackle climate change. The industry continues to work closely together to develop and promote its position. Its now down to the regulators and Governments to show commitment to the industry and to allow them to play their full part in contributing to the gl obal reduction in greenhouse gas emissions. Economic outlook The worst of the recession seems to be over. Unemployment in the UK, for example, seems to have peaked and at lower levels than had been feared. In their own business, February saw them record the first increase in premium traffic since August 2008. But recovery is precariothem and it would be foolish to assume they are out of the woods yet. The new UK Government will be forced to make some very unpopular decisions in the weeks and months ahead. Tackling the deficit remains the biggest priority. The new coalition Government plans to make immediate cuts in the deficit, they believe this threatens real dangers, not least that increased taxes and hasty spending cuts could throttle consumer confidence and trigger a double dip recession. It is vital that the UK develops a credible, measured plan to reduce the deficit, spelling out the reductions that are needed and the timescale in which they will be achieved. With election grandstanding now out of the way, this must be a priority for the new administration. A tremendothem effort Its been an immensely difficult year for my colleagues across the business and I want to thank them for the tremendous work they have done. The spirit theyve shown in supporting the business through one of its most difficult periods has been unbelievable. Its involved a lot of hard work and considerable personal sacrifices. Their prospects Their own recovery depends very much on how fast the general economy returns to growth. They remain cautiothem on that. They expect the climb out of recession to be a relatively slow one. However, I am convinced that the work they have done over the last 18 months to restructure their cost base and the progress they have made on the challenges they faced at the start of 2009/10, mean they are a far more resilient business today. That means they can be confident about surviving through further economic uncertainty. More importantly, it means they will be in a position to achieve higher levels of sustainable profitability when conditions improve. That is very good news for their customers, their staff and their shareholders. Approaches for the variothem challenges faced by the British Airways: One of the significant ways to distinguish one airline from another is in terms of the quality of its decisions. They use operational systems to run the business and business intelligence, delivered by Business Objects query and reporting tools, to manage it. British Airways Improves Customer Relationship Management and Maximises Revenues with Information Delivered by Business Objects The airline market is fiercely competitive with strong demand for lucrative business traveller routes due to capacity restrictions at major European airports and low cost entrants offering cheaper flights for the leisure passenger. Leading UK airline British Airways, is underpinning its strategic operations with business intelligence (BI) delivered by Business Objects solutions. British Airways use BUSINESSOBJECTSà ¢Ã¢â‚¬Å¾Ã‚ ¢, the integrated query, reporting and online analytical processing tool (OLAP) to access, analyse and share information stored in British Airways data warehouse. British Airways is also currently in the process of extending the decision making process worldwide via WEBINTELLIGENCE ®, the internet BI solution from Business Objects. Strategic Decision Making British Airways is one of the worlds most successful airlines, carrying over 48 million passengers a year. Peter Blundell, Knowledge Strategy Manager, British Airways, says One of the significant ways to distinguish one airline from another is in terms of the quality of its decisions. They use operational systems to run the business and business intelligence, delivered by Business Objects query and reporting tools, to manage it. BUSINESS OBJECTS is used throughout British Airways, with dozens of applications taking information from a central data warehouse. These cover all aspects of the business from CRM applications supporting the frequent flyer programme, through yield management and revenue analysis to catering supply chain management. Blundell explains, With BUSINESS OBJECTS they have been able to provide any line manager with the capability to assess relevant business information without requiring an army of data specialists. British Airways primary challenge is to make the airline as a whole and each route profitable. This is complicated since the company is unable to change product offerings very quickly. With the capacity restrictions in many airports, routes have to be negotiated and published some six months in advance. BUSINESS OBJECTS supports their long term planning, analysing the number of flights per day, routes and aircraft types that are most appropriate, says Blundell. This drives their negotiation for capacity constrained routes. Maximising Yield Every airline has to achieve a balance between availability of higher priced business seats and filling the flight with cheaper leisure fares. British Airways is using BUSINESS OBJECTS to analyse customer behavitheir and flight sales to maximise yield on each route. The business and leisure traveller have very different needs, with the business traveller looking for frequency of flights, punctuality and good customer service, while the leisure traveller is looking for value for money. Customer service also provides an area of differentiation. British Airways promotional activity tailors offers based on customer preferences and travel history. The costs the market will bear are different on each route, at different times of the day and week and depend on the level of competition on that route. BUSINESSOBJECTS enables them to better understand booking and customer profiles and use that information to maximise yield on each flight by creating the right promotional offer to each customer group. British Airways Leads Punctuality League Two of the most successful BUSINESS OBJECTS applications have addressed punctuality and baggage handling. Analysing sources of delay, by type, route and reason has enabled British Airways to significantly improve its position in the punctuality league of European airlines. For business passengers, punctuality and efficient baggage handling are critical factors that drive the choice of airline. British Airways wanted to improve its punctuality and BUSINESS OBJECTS was part of that solution. By analysing any problems with BUSINESS OBJECTS they have become one of the top rated European airlines for punctuality. A similar analysis using BUSINESS OBJECTS to look at baggage handling enabled the company to highlight reasons for baggage failing to connect with the right flight. While there was time for passengers to make the connection it was not always possible for their luggage to make the same journey. They have overcome that problem and significantly improved our baggage handling as a re sult, says Blundell. Worldwide Business Intelligence Having created a business intelligence infrastructure that is underpinning decision making throughout the British Airways head office, the company is now looking to broaden its user base from one thousand to potentially ten thousand worldwide via its intranet. Blundell explains, They plan to use Business Objects WEBINTELLIGENCE internet BI solution to deliver the business intelligence functionality they have developed to airports and offices around the world. By leveraging the intranet and WEBINTELLIGENCE, they can deliver key business information in a cost effective manner. Using WEBINTELLIGENCE, British Airways will be able to provide local managers with secure access to the local information pertinent to their operation, underpinning the drive to maximise revenue and market share and minimise costs across specific routes. Blundell explains, British Airways business goal is to broaden the decision making ability by providing pertinent information. Empowering people to make decisions on behalf of the company leads to better customer relationships. By making information available via the intranet they can ensure improved consistent customer service worldwide. By analysing any problems with BUSINESS OBJECTS e have become one of the top rated European airlines for punctuality. Conclusion: British Airways remains cautiously optimistic about its future prospects. However, it is certain that considerably more work lies ahead if the airline is to succeed. The FSAS plan incorporated by BA resulted in considerable cost savings, and divestments also raised funds to pay off debt. The goal of the FSAS plan was to achieve a 10% operating margin and hence more recent cost cuts and job loses have been made by Willie Walsh order to accomplish this.

The Scopes Monkey Trial Essay -- Clarence Darrow, teaching evolution

Ever since science began to explain the previously unexplainable, it has caused conflicts with religion. The Scopes â€Å"Monkey† Trial of Dayton, Tennessee was one of the most talked about trials in history because it was one of the first and most publicized times that this conflict occurred. The trial showed the schism between the faithful fundamentalists and the newly formed group of evolutionists. Although the jury was reminded that they only had to decide if Scopes had broken the law, the verdict was seen as much more than that. For one of the first times in history, it seemed as if the jury had to choose either religion or evolution. For the time being, there could not be both. The Scopes â€Å"Monkey† Trial revealed the ongoing conflict with faith and science and set a precedent for decades of conflict to come. The â€Å"Roaring Twenties† was a time period known for its innovation. Skirts got shorter, teens got bolder, and Prohibition was in full swing. These changes also gave way to a time period full of religious conflict. â€Å"In [religious] minds, Prohibition had always been about more than alcohol. It represented an effort to defend traditional American values against the growing influence of an urban, cosmopolitan culture† (Gillon 152). Charles Darwin had published his book, The Evolution of Species, in 1859 and The Descent of Man in 1871, detailing the evolution of man from ape-like creatures. When A Civic Biology, a biology textbook containing information on evolution, was published in 1914, teachers around the country began using it in their courses. By the twenties, these books had sparked all sorts of new ideas regarding the origin of man as well as opposition due to the creature from which he claimed we evolved and to the disagr... ...: Remembering the Scopes Monkey Trial : NPR." NPR : National Public Radio : News & Analysis, World, US, Music & Arts : NPR. Web. 20 May 2010. . France, Mary. ""A Year of Monkey War": The Anti-Evolution Campaign and the Florida Legislature." The Florida Historical Quarterly 54.2 (1975): 156-77. JSTOR. Web. 19 May 2010. Gillon, Steven M. "Scopes: The Battle Over America's Soul." Ten Days That Unexpectedly Changed America. New York: Three Rivers, 2006. Print. Scopes, John. "Reflections on the Scopes Trial by John Thomas Scopes." UMKC School of Law. Web. 19 May 2010. . "The Scopes Trial: Clarence Darrow." UMKC School of Law. Web. 20 May 2010. .

Fool Chapter 7

SEVEN A BROTHER TRAITOR Am I to be forever alone? The anchoress told me it might be so, trying to comfort me when I felt pushed aside by the sisters of Dog Snogging. â€Å"You're gifted with wit, Pocket, but to cast jibe and jest you must stand separate from the target of your barbs. I fear you may become a lonely man, even in the company of others.† Perhaps she was right. Perhaps it is why I am such an accomplished horn-beast and eloquent crafter of cuckoldry. I seek only succor and solace beneath the skirts of the soft and understanding. And so, sleepless, did I make my way to the great hall to find some comfort among the castle wenches who slept there. The fire still blazed, logs the size of oxen set in before bed. My sweet Squeak, who had oft opened her heart and whatnot to a wayfaring fool, had fallen asleep in the arms of her husband, who spooned her mercilessly as he snored. Shanker Mary was not to be seen, no doubt servicing the bastard Edmund somewhere, and my other standard lovelies had fallen into slumber in proximity too close to husbands or fathers to admit a lonely fool. Ah, but the new girl, just in the kitchen a fortnight, called Tess or Kate or possibly Fiona. Her hair was jet and shone like oiled iron; milky skin, cheeks brushed by a rose – she smiled at my japes and had given Drool an apple without his asking. I am relatively sure that I adored her. I tiptoed across the rushes that lined the floor (I had left Jones in my chamber, his hat bells no help in securing stealthy romance), lay down beside her, and introduced my personage to the nether of her blanket. An affectionate nudge at the hip woke her. â€Å"Hello,† said she. â€Å"Hello,† said I. â€Å"Not a papist, are you, love?† â€Å"Christ, no, Druid born and raised.† â€Å"Thank God.† â€Å"What are you doing under my blanket?† â€Å"Warming up. I'm terribly cold.† â€Å"No you're not.† â€Å"Brrrr. Freezing.† â€Å"It's hot in here.† â€Å"All right, then. I'm just being friendly.† â€Å"Would you stop prodding me with that?† â€Å"Sorry, it does that when it's lonely. Perhaps if you petted it.† Then, praised be the merciful goddess of the wood, she petted it, tentatively, almost reverentially at first, as if she sensed how much joy it could bring to all who came in contact with it. An adaptable lass, not given to fits of hysteria or modesty – and soon a gentle surety in her grip that betrayed some experience in the handling of manly bits – simply lovely she was. â€Å"I thought it would have a little hat, with bells.† â€Å"Ah, yes. Well, given a private place to change, I'm sure that can be arranged. Under your skirt, perhaps. Roll to the side, love, we'll be less obvious if we keep the cuddle on a lateral plane.† I popped her bosoms out of her frock, then, freed the roly-poly pink-nosed puppies to the firelight and the friendly ministries of this master juggler, and thought to burble my cheeks softly between them, when the ghost appeared. The spirit was more substantial now, features describing what must have been a most comely creature before she was shuffled off to the undiscovered country, no doubt by a close relative weary of her irritating nature. She floated above the sleeping form of the cook Bubble, rising and falling on the draft of her snores. â€Å"Sorry to haunt you while you're rogering the help,† said the ghost. â€Å"The rogering has not commenced, wisp, I have barely bridled the horse for a moist and bawdy ride. Now, go away.† â€Å"Right, then. Sorry to have interrupted your attempted rogering.† â€Å"Are you calling me a horse?† asked Possibly Fiona. â€Å"Not at all, love, you pet the little jester and I'll attend to the haunting.† â€Å"There's always a bloody ghost about, ain't there?† commented Possibly, a squeeze on my knob for emphasis. â€Å"When you live in a keep where blood runs blue and murder is the favored sport, yes,† said the ghost. â€Å"Oh do fuck off,† said I. â€Å"Thou visible stench, thou steaming aggravation, thou vaporous nag! I'm wretched, sad, and lonely, and trying to raise a modicum of comfort and forgetting here in the arms of, uh – â€Å" â€Å"Kate,† said Possibly Fiona. â€Å"Really?† She nodded. â€Å"Not Fiona?† â€Å"Kate since the day me da tied me belly cord to a tree.† â€Å"Well, bugger. Sorry. Pocket here, called the Black Fool, charmed I'm sure. Shall I kiss your hand?† â€Å"Double-jointed, then, are ye?† said Kate, a tickle to my tackle making her point. â€Å"Bloody hell, would you two shut up?† said the ghost. â€Å"I'm haunting over here.† â€Å"Go on,† said we. The ghost boosted her bosom and cleared her throat, expecto-rating a tiny ghost frog that evaporated in the firelight with a hiss, then said: â€Å"When a second sibling's base derision, Proffers lies that cloud the vision, And severs ties that families bind, Shall a madman rise to lead the blind.† â€Å"What?† said the former Fiona. â€Å"What?† said I. â€Å"Prophecy of doom, innit?† said the ghost. â€Å"Spot o' the old riddly foreshadowing from beyond, don't you know?† â€Å"Can't kill her again, can we?† asked faux Fiona. â€Å"Gentle spook,† said I. â€Å"If it is a warning you bring, state it true. If action you require, ask outright. If music you must make, play on. But by the wine-stained balls of Bacchus, speak your bloody business, quick and clear, then be gone, before time's iron tongue licks away my mercy bonk with second thoughts.† â€Å"You are the haunted one, fool. It's your business I do. What do you want?† â€Å"I want you to go away, I want Fiona to come along quietly, and I want Cordelia, Drool, and Taster back – now, can you tell me how to make those things come about? Can you, you yammering flurry of fumes?† â€Å"It can be done,† said the ghost. â€Å"Your answer lies with the witches of Great Birnam Wood.† â€Å"Or you could just fucking tell me,† said I. â€Å"Nooooo,† sang the ghost, all ghosty and ethereal, and with that she faded away. â€Å"Leaves a chill when she goes, don't she?† said formerly Fiona. â€Å"Appears to have softened your resolve, if you don't mind my sayin'.† â€Å"The ghost saved my life last evening,† said I, trying to will life back into the wan and withered. â€Å"Kilt the little one, though, didn't she? Back to your bed, fool, the king's leaving on the morrow and there's a wicked lot of work to do in the morning to prepare for his trip.† Sadly, I tucked away my tackle and sulked back to the portislodge to pack my kit for my final journey from the White Tower. Well, I won't miss the bloody trumpets at dawn, I can tell you that. And sod the bloody drawbridge chains rattling in my apartment before the cock crows. We might have been going to war for all the racket and goings-on at first light. Through the arrow loop I could see Cordelia riding out with France and Burgundy, standing in the stirrups like a man, like she was off to the hunt, rather than leaving her ancestral home forever. To her credit, she did not look back, and I did not wave to her, even after she crossed the river and rode out of sight. Drool was not so fickle, and as he was led out of the castle by a rope round his neck, he kept stopping and looking back, until the man at arms to whom he was tethered would yank him back into step. I could not bear to let him see me, so I did not go out onto the wall. Instead I slunk back to my pallet and lay there, my forehead pressed to the cold stone wall, listening as the rest of the royals and their retinues clomped across the drawbridge below. Sod Lear, sod the royals, sod the bloody White Tower. All I loved was gone or soon to be left behind, and all that I owned was packed in a knapsack and hung on my hook, Jones sticking out the top, mocking me with his puppety grin. Then, a knock at my door. Like dragging myself from the grave, was making my way to open it. There she stood, fresh and lovely, holding a basket. â€Å"Fiona!† â€Å"Kate,† said Fiona. â€Å"Aye, your stubbornness suits you, even in daylight.† â€Å"Bubble sends her sympathies over Taster and Drool, and sends you these sweet cakes and milk for your comfort, but says to be sure and remind you to not leave the castle without saying your farewells, and further that you are a cur, a rascal, and a scurvy patch.† â€Å"Ah, sweet Bubble, when kindness shagged an ogre, thus was she sired.† â€Å"And I'm here to offer comfort myself, finishing what was started in the great hall last night. Squeak says to ask you about a small chap in a canoe.† â€Å"My my, Fi, bit of a tart, aren't we?† â€Å"Druish, love. My people burn a virgin every autumn – one can't be too careful.† â€Å"Well, all right, but I'm forlorn and I shan't enjoy it.† â€Å"In that we shall suffer together. Onward! Off with your kit, fool!† What is it about me that brings out the tyrant in women, I wonder? â€Å"The next morning† stretched into a week of preparation for departure from the White Tower. When Lear pronounced that he would be accompanied by one hundred knights it was not as if one hundred men could mount up and ride out of the gates at sunrise. Each knight – the unlanded second or third son of a noble – would have at least one squire, a page, usually a man to tend his horses, and sometimes a man at arms. Each had at least one warhorse, a massive armored beast, and two, sometimes three animals to carry his armor, weapons, and supplies. And Albany was three weeks' journey to the north, near Aberdeen; with the slow pace set by the old king and so many on foot we'd need a crashing assload of supplies. By the end of the week our column numbered over five hundred men and boys, and nearly as many horses. We would have needed a wagon full of coin to pay everyone if Lear had not conscripted Albany and Cornwall to maintain his knights. I watched Lear pass under the portislodge at the head of the column before going downstairs and climbing on my own mount, a short, swayback mare named Rose. â€Å"Mud shall not sully my Black Fool's motley, lest it dull his wit as well,† said Lear, the day he presented the horse. I did not own the horse, of course. She belonged to the king – or now his daughters, I suppose. I fell in at the end of the column behind Hunter, who was accompanied by a long train of hounds and a wagon with a cage built on it, which held eight of the royal falcons. â€Å"We'll be raiding farms before we get to Leeds,† said Hunter, a stout, leather-clad man, thirty winters on his back. â€Å"I can't feed this lot – and they've not enough stowed to last them a week.† â€Å"Cry calamity if you will, Hunter, but I'm the one to keep them in good spirits when their bellies are empty.† â€Å"Aye, I've no envy for you, fool. Is that why you ride back here with we catch-farts and not at the king's side?† â€Å"Just drawing plans for a bawdy song at supper without the clank of armor in my ear, good Hunter.† I wanted to tell Hunter that I was not overburdened by my duties, but by my disdain for the senile king who had sent my princess away. And I wanted time to ponder the ghost's warnings. The bit about daughters three and the king becoming a fool had come to pass, or at least was in the way of it. So the girl ghost had predicted the â€Å"grave offense† to â€Å"daughter's three† even if all the daughters had not seen the offense yet – when Lear arrived at Albany with this rowdy retinue, offense would soon follow. But what of this: â€Å"When a second sibling's base derision, proffers lies that cloud the vision†? Did it mean the second daughter? Regan? What did it matter if her lies clouded Lear's vision? The king was nearly blind as it was, his eyes milky with cataract – I'd taken to describing my pantomimes as I performed them so the old man would not miss the joke. And with no power, what tie could be severed that would make a difference now? A war between the two dukes? None of it about me, why do I care? Why then would the ghost appear to this most irrelevant and powerless fool? I puzzled it, and fell far behind the column, and when I stopped to have a wee, was accosted by a brigand. He came up from behind a fallen tree, a great bear of a fiend, his beard matted and befouled with food and burrs, a maelstrom of grey hair flying about under a wide-brimmed black hat. I may have screamed in surprise, and a less educated ear might have likened my shriek to that of a little girl, but be assured it was most manly and more for the fair warning of my attacker, for next I knew I had pulled a dagger from the small of my back and sent it flying. His miserable life was saved only by my slight miscalculation of his distance – the butt of my blade bounced off his behatted noggin with a thud. â€Å"Ouch! Fuck's sake, fool. What is wrong with you?† â€Å"Hold fast, knave,† said I. â€Å"I've two more blades at the ready, and these I'll send pointy end first – the quality of my mercy having been strained and my ire aroused by having peed somewhat upon my shoes.† I believed it a serviceable threat. â€Å"Hold your blades, Pocket. I mean you no harm,† came the voice under the hat brim. Then, â€Å"Y Ddraig Goch ddyry gychwyn.†[22] I wound up to send my second dagger to the scoundrel's heart, â€Å"You may know my name, but that gargling with catsick that you're doing will not stop me from dropping you where you stand.† â€Å"Ydych chi'n cymryd cerdynnau credid?†[23] said the highwayman, no doubt trying to frighten me further, his consonants chained like anal beads strung out of hell's own bunghole. â€Å"I may be small, but I'm not a child to be afraid of a pretended demon speaking in tongues. I'm a lapsed Christian and a pagan of convenience. The worst I can do on my conscience is cut your throat and ask the forest to count it as a sacrifice come the Yule, so cease your nonsense and tell me how you know my name.† â€Å"It's not nonsense, it's Welsh,† said the brigand. He folded back the brim of his hat and winked. â€Å"What say you save your wicked sting for an enemy true? It's me, Kent. In disguise.† Indeed, it was, the king's old banished friend – all of his royal trappings but his sword gone – he looked like he'd slept in the woods the week since I'd last seen him. â€Å"Kent, what are you doing here? You're as good as dead if the king sees you. I thought you'd be in France by now.† â€Å"I've no place to go – my lands and title are forfeit, what family I have would risk their own lives to take me in. I have served Lear these forty years, I am loyal, and I know nothing else. My thought is to affect accents and hide my face until he has a change of heart.† â€Å"Is loyalty a virtue when paid to virtue's stranger? I think not. Lear has misused you. You are mad, or stupid, or you lust for the grave, but there is no place for you, good greybeard, in the company of the king.† â€Å"And there is for you? Or did I not see you restrained and dragged from the hall for that same offense: truth told boldly? Don't preach virtue to me, fool. One voice can, without fear, call the king on his folly, and here he stands, piss-shoed, two leagues back from the train.† Fuckstockings, truth is a surly shrew sometimes! He was right, of course, loudmouthed old bull. â€Å"Have you eaten?† â€Å"Not for three days.† I went to my horse and dug into my satchel for some hard cheese and an apple I had left from Bubble's farewell gift. I gave them to Kent. â€Å"Come not too soon,† said I. â€Å"Lear still fumes about Cordelia's honest offense and your supposed treason. Follow behind to Albany's castle. I'll have Hunter leave a rabbit or a duck beside the road for you every day. Do you have flint and steel?† â€Å"Aye, and tinder.† I found the stub of a candle in the bottom of my bag and handed it to the old knight. â€Å"Burn this and catch the soot upon your sword, then rub the black into your beard. Cut your hair short and blacken it, too. Lear can't see clearly more than a few feet away, so keep your distance. And carry on with that ghastly Welsh accent.† â€Å"Perhaps I'll fool the old man, but what of the others?† â€Å"No righteous man thinks you a traitor, Kent, but I don't know all of these knights, nor which might reveal you to the king. Just stay out of sight and by the time we reach Albany's castle I'll have flushed out any knave who might betray your cause.† â€Å"You're a good lad, Pocket. If I've shown you disrespect in the past, I'm sorry.† â€Å"Don't grovel, Kent, it doesn't wear well on the aged. A swift sword and a strong shield are allies I can well use with scoundrels and traitors weaving intrigue about like the venomous spider-whore of Killarney.† â€Å"Spider-whore of Killarney? I've never heard of her?† â€Å"Aye, well, sit on that downed tree and eat your lunch. I'll spin the tale for you like it was web from her own bloody bum.† â€Å"You'll fall behind the column.† â€Å"Sod the column, that tottering old tosspot so slows them they'll be leaving a snail trail soon. Sit and listen, greybeard. By the way have you ever heard of Great Birnam Wood?† â€Å"Aye, it's not two miles from Albany.† â€Å"Really? How do you feel about witches?†

One Freelance Writers Surprising Strategy for a Revved-Up Career

One Freelance Writers Surprising Strategy for a Revved-Up Career If you want to start a career as a freelance writer, you have two options: You can quit your day job, dedicating yourself to writing full time. Or you can build your portfolio slowly, while keeping that office job. Or so I thought. It didn’t occur to me there was a third option, until I failed to make either of those options work for me. Here’s how I found the perfect solution through trial and error: Freelancing on the Side I had an office job when I decided I wanted to be a writer. So I first tried freelancing on the side. Unfortunately, my job required me to work (and commute) six days a week. I was left with little time and energy to learn about freelance writing and marketing, much less time for actually sitting down to write. It didn’t help matters that I didn’t like my job. So I quit. Freelancing Full-Time Feeling euphoric, I started writing full-time. But soon, I was lost in all the stuff I had to do and learn. When my initial queries failed me, I started applying to job ads and trying out content mills. The highest- paying job I landed was $35 for a long travel article. I was starting to panic as my savings melted away. Soon, I was producing a lot of articles for low pay. I wasn’t happy, and I wasn’t exactly making a living. Freelancing with a Twist After months of hard work and no tangible results, it hit me. I didn’t have to choose between a full-time job (which left me with little time, energy and motivation) and full-time freelance writing (where I was under constant pressure to make money quickly). I could take a flexible, part- time job I would enjoy to pay the bills. So I started teaching English as a second language. This part-time job brought me more than just a regular paycheck. Benefits of my Part-Time Job Happiness: I make money doing something I love, so I no longer have to take unsatisfactory writing assignments to make ends meet.   Ã‚  Ã‚   Time: I only teach 14-18 hours a week. Not only do I have enough time for all my writing-related activities, I am also able to have a busy social life.   Ã‚  Ã‚   Peace of mind: A regular paycheck motivates me to research markets more thoroughly, craft professional queries and send them to my dream publications.   Ã‚  Ã‚   Inspiration: As I meet so many diverse people through my teaching, I’m not stuck for story ideas.   Ã‚  Ã‚   Exercise: I live in a big city, and the commute on my part-time job is far less than I had with my full-time job. That leaves me with time to hit the pool.   Ã‚  Ã‚   Broader network: Because I meet new people, the potential for new gigs increases. I also gain more readers for my blogs.   Ã‚  Ã‚   Better time management skills: I have a tighter schedule than when I freelanced full time, but a lot more time than I had with my office job. I manage my time better because time isn’t spent working at a job I hate, or worrying about the bills. These benefits enabled me to finally put a red velvet rope around my work I am happier, I make more money freelancing and I feel more confident pitching to the publications I’ve been following, such as Freelance Switch and FundsforWriters. What’s the right balance for your writing career?

Letter of the Alphabet Not Found in Element Names

Letter of the Alphabet Not Found in Element Names The letter J is the only one not found on the periodic table. In some countries (e.g., Norway, Poland, Sweden, Serbia, Croatia), the element iodine is known by the name jod. However, the periodic table still uses the IUPAC symbol I for the element. About The Element Ununtrium There was speculation the newly discovered element 113 (ununtrium), might get a permanent name starting with a J and element symbol J. Element 113 was discovered by the RIKEN collaboration team in Japan. However, the researchers went with the element name nihonium, based on the Japanese name for their country, Nihon koku. The Letter Q Note that the letter Q does not appear in any official element names. Temporary element names, such as ununquadium, contain this letter. However, no element name starts with Q and no official element name contains this letter. Once the final four elements on the present periodic table get official names, there will be no Q on the periodic table. The extended periodic table, which includes undiscovered superheavy elements (atomic numbers greater than 118) would still contain the letter Q in temporary element names.

Effective Sales Management Essay Example | Topics and Well Written Essays - 2250 words

Effective Sales Management - Essay Example The delegation of daily activities can be adjusted according to the human traffic or the manning hours in the region under consideration. A sales person in the field can estimate the right time and the right season to market a product. He can give a valuable feedback of the fast moving products and the slow moving. A regular analysis of the sales feedback, the existing competitors, the products volume in the market, reveals some interesting facts about the customers' tastes, customers requirements and customer expectations leading to a more refined innovations and valuable predictions to regulate the sales operations in the future. The volume of business achieved in different periods can create an idea on how we need to place our products in near future to sustain the market fluctuations. The customers are always hard to retain and new customers do creep into the list of clients as the value of the products spreads in the market. A sales person has to on look the existing customers' network and he needs to explore on the new possible clients acquisition by the able management of existing clients. The new clients' acquisition can not be achieved overnight but it requires a dedicated effort from the existing sales professionals and parallel promotional efforts to introduce the products to new customers at large. For example the booming aviation business in India due to the increase in the number of low cost airlines, for niche products like the airline products the turn around will be more than year. The pharmaceutical products and medical equipments products tests your ability to maintain a sustainable relationship with client. A customer lost is a loss of a life time in such industries. The best methods to attract new customers The best viable methods wood be the word of mouth promotion indirectly by the existing customers. A client has to be carefully monitored regarding his requirements and expectation now and then to make him fell comfortable with the existing products line. The second best customer enticing program would be organizing and participating in the conferences and activities of the client in order to make them feel more secure with your association. How do you add value to a product or service besides raising the price A quality product will never be denied by a customer. An organization has to consistently highlight the features of the product to make the clients differentiate between the competitors product. The promotional