1 Thessalonians. What can we discover from the letter about the circumstances in which it was written, the Thessalonians concerns and how Paul addressed them.

1 Thessalonians. What can we discover from the letter about the circumstances in which it was written, the Thessalonians concerns and how Paul addressed them. The background.St. Paul was a Jew, brought up in the Greek city of Tarsus, a member of the pharisaic party, educated in Jerusalem to be a rabbi, so zealous for the law that he persecuted Christians relentlessly until; on the road to Damascus he had an encounter with the lord Jesus, was transformed completely and became the apostle to the gentiles.It was only twenty years or so after the ascension of Our Lord and about 51 C.E. ' that he wrote the first letter to the Thessalonians from the city of Corinth. It is the oldest Christian writing in existence today and gives us a glimpse into the very beginnings of Christianity.A few months before he had crossed from Troas to Macedonia, bringing the gospel from Asia to Europe. From Philippi Paul went on to Thessalonica, Berea, Athens and then Corinth.- At the council of Jerusalem: it was agreed that Paul should continue his ministry among the Gentiles (Acts15)- Paul begins a second tour among the Gentiles, first revisiting the churches that he had already founded (Acts15.36)Paul Stang- Paul wanted to head north in Asia Minor. (Acts 16.8)- The vision of the Macedonian man (Acts 16.9-10)- Mission of Paul and Silas in Philippi (Acts 16.11-40)Where he is beaten, whipped, put in chains and sent to prison. Realising that he was a roman citizen they freed him. But he had to move again.The circumstances;- Paul and Silas go to Thessalonica (7.1)- Paul goes to the synagogue and discusses scripture with the Jews (Acts 17.2-3) He preached for three Sabbaths (acts 17;2) (people went to the synagogue three times a week at that time, although he may have preached in the temple daily, but he probably stayed longer with the gentiles,

Mistakes With Regard

Mistakes With Regard Mistakes With Regard Mistakes With Regard By Maeve Maddox The English word regard has multiple meanings as both noun and verb. A common error is to attach an s to the noun in certain expressions. Incorrect: In congressional questioning, assessment of Clintons performance at State in regards to the Benghazi attack was split by party line.- US News World Report. Correct : In congressional questioning, assessment of Clintons performance at State in regard to the Benghazi attack was split by party line. Incorrect: Texas Tech wants all or nothing in regards to AM  rivalry- NBC Sports. Correct : Texas Tech wants all or nothing in regard to AM  rivalry. Incorrect: Yoga outfit said to stretch truth in regards to assets - New York Post. Correct : Yoga outfit said to stretch truth in regard to assets. Incorrect: IRS Provides Guidance With Regards to Same-Sex Married Couples - Nova Southeastern University site. Correct : IRS Provides Guidance With Regard to Same-Sex Married Couples. Incorrect: If he was seen to be taking the party line and demonstrating strong leadership with regards to opposing the bill, this would do his chances no harm whatsoever.- UK History Learning site. Correct : If he was seen to be taking the party line and demonstrating strong leadership with regard to opposing the bill, this would do his chances no harm whatsoever. When does regard take an s? 1. When it is used to close a letter: Best regards, George 2. When it is preceded by as: As regards  the  issue of  complexity, this is quite evident: the brain is one of the most complex systems we know. 3. When it is used as a third person present tense singular verb: Respect is very important in the way  Scorsese  works with actors and also the way he  regards his  audience. Related posts: In Regard to Your Letter In Regards To Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:Grammar Test 1"Wracking" or "Racking" Your Brain?List of Prefixes and Suffixes and their Meanings

Main Hydraulic Pump Motor and Starter Systems Assignment - 3

Main Hydraulic Pump Motor and Starter Systems - Assignment Example The researcher states that the hydraulic powers systems that are currently used in the submarine systems and devices are not only used in powering the devices but also used in operating other systems within the vessels. The submarines also require the use of electric power especially for propulsion as well as operating auxiliary equipment within the vessel. Other than moving stationary light equipment, electricity is often used in instantaneous stopping some equipment such as electric motors. Motors often have the tendency to drift and/or over-travel thereby becoming difficult to control without electricity. Additionally, electrically driven equipment is often noisy and require intense maintenance; therefore, to overcome these shortcomings, the submarine devices are currently designed and manufactured to use hydraulic powering systems including hydraulic motor pumps. Hydraulic motors are the power units of the marine devices; however, they do not generate their own power, but they of ten convert hydraulic power into mechanical energy that is transmitted to other parts of the vessel. Therefore, pumps are the central power supply for the devices using hydraulic systems. The pumps are used to create pressure within the system. Submarine devices usually have different pumps playing different roles. The Waterbury A-end pump is among the pumps using the submarine devices. A rotating shaft operates the Waterbury A-end pump. The rotating shaft may be operated by hand or motor. There are usually three hands driven and three motor-driven Waterbury A-end pumps play different functions to a submarine. They drive the steering system, bow plan system, and stern plan system. Under normal operations, two parts of the entire three systems are used distinctively in the system as steam and motor transmitting oil units while the hand driven part is usually fitted to a larger hand wheel. The Waterbury A-end speed gear operates on a rotation principle where its multiple pistons are o n reciprocating rotations. The gear consists of three basic elements including the socket ring, cylinder barrels, and tilt box. The socket ring is located in ball sockets and it holds seven or nine pistons that connect different rods. On the other hand, the cylinder barrel corresponds to the seven or nine cylinders whereas the tilted box is an inclined socket ring that corresponds to the cylinder barrel.

Proposal on Accounting Dissertation Example | Topics and Well Written Essays - 750 words

Proposal on Accounting - Dissertation Example The proposed research statement for this research is as follows: - â€Å"To explore and analyze the role of creative accounting in the recent banking crises and failures† Research Objectives The research would revolve around the following research objectives: - To explore various dimensions of creative accounting, earnings management and accounting scandals To analyze the links between creative accounting and the recent financial recession and banking crisis To propose precautionary measures which could draw a line between â€Å"good and moral creative accounting† and â€Å"bad and immoral creative accounting† Literature Review â€Å"Creative accounting is also known as aggressive accounting† (Torre, pp. 52-54, 2009), which refers to the practice of accounting that is in line with the letter of law but very much against the spirit of the law. In other words, it refers to the manipulation of the financial numbers related to the company in such a way to port ray a favorable and positive picture of the company. Quite understandably, the same is done due to the pressures from the stakeholders’ pressure of the company, to achieve targets or to keep their own jobs (Torre, pp. 52-54, 2009). Without any doubts, the current financial recession and banking crisis is very much a product of creative accounting practices. ... d play its part and the same is true for Lehman brothers and various others, which accounted bankruptcy, and the ones, which almost reached bankruptcy (Jones, Powers & Crosson, pp. 41, 2010). Experts believe that it all started due to early signs of financial recession due to bursting of housing bubble and the impact of subprime mortgages (Jones, pp. 254-255, 2009). Banks which were forced to abide by the rules of mark to market accounting had to value their assets at the current market value which was decreasing steadily. With decreasing value of assets, the accountants had a problem at their hands, which was to improve the outlook of the company’s balance sheets so that investors could be wooed not to take away the investments (Jones, Powers & Crosson, pp. 41, 2010). Once accountants knew that the picture was appearing favorable, banks and their managers started acting very irresponsibly by lending money to borrowers who they knew would never be able to pay back under normal circumstances. Fannie Mae and Freddie Mac played an important role in disturbing and distorting the financial markets and using the accounting as means to manipulate their financial positions. Quite understandably, this was not the solution of the problem and when the banks reached near the point of liquidation and bankruptcy, the investors and shareholders had no clue whatsoever about the happenings (Davies, pp. 37, 2010; Jones, pp. 254-255, 2009). Methodology In order to conduct this study, the researcher would ensure the use of both secondary and primary data. Secondary data would come under acquisition from different resources, such as books, journals, previous researches, data, statistics, and others. Questionnaires would be the major source of primary data and the target respondents of

A perspective on charity in the gospel of wealth a book by andrew carnegie Essay Example for Free

A perspective on charity in the gospel of wealth a book by andrew carnegie Essay Andrew Carnegie, who wrote The Gospel of Wealth, had a particular view on how society should correctly work. He believed that with the wealth of millionaires, that he could recreate society to think of the rich as â€Å"trustees† to provide money to the poor. Carnegie gave away most of his capital to projects he thought that benefitted the community. He built over 2,500 libraries, endowed many parks, and he even gave money to universities and other foundations he thought would â€Å"improve the race. †Ã‚   Although I respect what Carnegie did for our culture, if I were a billionaire, I would pay more attention to the dire needs of the poor because I believe that this kind of giving contributes more to the common good. Within the first few paragraphs of The Gospel of Wealth, Carnegie summarizes that throughout time, things have been revolutionized for the better and have created a better community for the world, but the problem seems to be the proper administration of capital, so that the ties between the rich and poor can continue in a balanced manner. Because of the wealth administration problem, the gap that has been made between the rich and poor has created a lot of tension between the two classes. Carnegie noticed, â€Å"The contrast between the palace of the millionaire and the cottage of the laborer with us to-day measures the change which has come with civilization† (486). While we humans owe the progress of material conditions to manufacturing and improvements, it has created a market for competition. From competition, inequality rises and Carnegie believes only talented men can rise above everyone else and make more capital. However, men who have the talent to make large amounts o f money can be the benefactors of society. This is where Carnegie notes that if they have a lot of money they don’t know what to do with, it can be used for the well-being of the race. Carnegie’s main focus was to solve the problem of how to administer money for the common good. He believed in helping mankind progress through philanthropy. Carnegie thought of three ways to distribute his surplus money: â€Å" It can be left to the families of the descendants, or it can be bequeathed for public purposes; or, finally, it can be administered during their lives by its possessors† (489). The amount of poverty in the world is constantly on the rise. While communism was all for equality, it wanted to change human nature. However, Carnegie believed, â€Å" It is criminal to waste our energies in endeavoring to uproot when all we can profitably or possibly accomplish is to bend the universal tree of humanity a little in the direction most favorable to the production of good fruit under existing circumstances† (489). With almost unlimited wealth, Carnegie can be seen as generous because he built many libraries. However, the conditions he created for his workers were not ideal. In an article, Was Andrew Carnegie Generous? written by Daniel Putman, Carnegie is criticized as not being fair to his workers, but his help among the world outweighs his worker’s conditions. For example, Putman states, â€Å"Utilitarians may well rejoice at the results of what Andrew Carnegie did and it is quite likely that the good he did over time outweighs what his workers had to experience. But Carnegies generosity is tempered not by his lack of genuine motivation, nor by his attitude toward workers, but by the very specific fact that much of what he gave away was not his to give†. In fact, Carnegie’s wealth was only capable for him to achieve before the Roosevelt/Wilson reforms. While Carnegie had dreams of creating a better society and providing culture to all, his confidence in poor people was slim and he once said, â€Å"the man of wealth thus becoming the mere agent and trustee for his poorer brethren, bringing to their service his superior wisdom, experience, and ability to administer, doing for them better than they would or could do for themselves† (493). I agree with Carnegie’s basic idea to create a better society by administering wealth among everyone, but I believe the money should be distributed to poorer people and their needs. For example, I would imitate many billionaires such as Warren Buffett, Bill Gates and Melinda Gates, have paired up within the past few years to give away half of their fortunes to charitable causes either during their lifetimes or in their will. If I had their money, I would consider doing the same thing they are doing: The Giving Pledge (created by the three billionaires mentioned above), has helped with n umerous amounts of issues that plague today’s world. They have worked with providing vaccines, schools and even hospitals to those in South Africa who cannot afford to provide those things to their families. Another example of a charity I would donate to is ‘GiveDirectly’. The point of this charity is to give money to poor people in Kenya with no strings attached. It’s a simple charity because it’s economics 101: poor people will know what they need and if they’re given the money for it, they will most likely go out and buy it. This is an example of how when poor people are given a little help, they are most likely going to succeed by using that money as an investment in themselves. Heifer International is also another example of charity that I would donate too. In African countries, Heifer gives animals to poor families so they provide food and reliable income. They can collect dairy products such as milk, eggs and honey which can be traded or sold at a market. This sustainable income allows for families to build schools, agricultural opportunities and forms a community saving that funds small businesses. Although one can appreciate what Carnegie has done for the world by building libraries and such, he did not address providing needs for poor people other than if he gave them money, they would most likely not use it to leverage themselves in society. In today’s world, Carnegie’s ideas might look generous on paper, but there are other direct issues that need to be dealt with harshly. Many millionaires have pledged or have already spent billions in trying to provide basic needs to poor people of almost every country by building schools and providing medical assistance. Other charities have given the resources needed to help poor people. These charities allow open doors for individuals and communities who are struggling to get their foot in the door to help themselves. Charity is a just a small lending hand that gives poor people leverage as well as creating new opportunities that contribute to the common good. Works Cited Carnegie, Andrew. The Gospel of Wealth. A World of Ideas: Essential Readings for College   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Writers. Ed.   Lee A. Jacobus. Boston: Bedford, 2013. 485-495.   Print. Putman, D. (2010).   WAS ANDREW CARNEGIE GENEROUS? THING, 9(26), 91-98. â€Å"World Hunger and Poverty Heifer Mission.† World Hunger and Poverty Heifer Mission. Np., n.d. Web. 12 May 2016.

Free Rider Problem Essay -- essays research papers

The Free Rider Problem   Ã‚  Ã‚  Ã‚  Ã‚  The free rider issue has become one of the most serious economic issues today. The free rider is a lazy type person who wants the benefits that others bring in without having to do the work. The free rider typically takes advantage of a public good. Living in a civilized society presents many opportunities for free riding, which we have yet to find a way to control. Economists regard the possibility for free riding as a problem for the free market, which usually leads to government intervention. Government intervention is not generally needed in a free market society but in this case if there were no government intervention this problem would not find a solution.   Ã‚  Ã‚  Ã‚  Ã‚  The free-rider issue is often seen as a serious problem because of the assumption that a free rider's best self-interest is that they interact with others by force and fraud. If they can get away with the fraud and begin to gain the benefits of others they have reached their first goal. Their next goal is to make some good money or get credit for someone else's hard work before they get caught. Then they get out and are long gone by the time anyone notices. Life in a civilized society allows each of us the opportunity to enjoy the benefits of the work of people with productive ability far greater than our own, but what happens when people begin doing this? They get used to not having to do much work and become lazy. In some cases people look at welfare in this way. If a person is able to get a good job and chooses not to, but instead, to live on our government, this would be considered free riding. This causes a fluctuation in our market and it can have a negative effect. When the benefits go away people do not want to go back to work and eventually will loose their jobs or quit and become a true free rider. Clearly there is an essential difference between cases in which one can't contribute to the benefits one enjoys and cases in which one chooses not to make a contribution that is within one's power. But apart from this distinction, we can differentiate between harmless free riding and the worthless free riding. The free rider wants anything he can get for free and will think nothing of it if he can get away with it. Free riders take advantage of public goods without having to contribute to them. For example, if s... ...o make up the difference. This difference we have to make up is usually a higher tax. In raising the tax the price of the good goes up and when price goes up demand tends to go down. As the demand keeps falling and the price keeps rising the product usually ends up off the market and filing a chapter eleven. It typically does not go that far but this is an example of what could happen. A free market is a privilege to have and it is a shame people have to take advantage of it because they do not feel the need to work hard or to go out of their way to do something for someone else.   Ã‚  Ã‚  Ã‚  Ã‚  The free rider is a menace in our society and we do not need to let him take our money and put it to his use. We have found ways such as government intervention and price lids to help control the problem but we have yet to find a solution. Once a solution is found we will have fewer worries and possibly a true free market. These are very difficult problems to stop and may never be stopped. It will take a long period of time to begin the process to bring it to an end, but it will be nice to maybe some day have a true free market without the problem of a free rider.

Professional Athletes are not overpaid Essay

In my short life, if there is one thing I have noticed about the sports industry, it’s that money talks. Drew Brees just recently signed a $100 million dollar contract with the New Orleans Saints to play for five more years. Kobe Bryant of the Lakers made $25 million last year alone, while Alex Rodriguez made $32 million. This sure seems like a lot on money for men to be making just to play sports, or is it? Professional Athletes are very good at what they do and deserve every penny they get for the hard work and dedication they put in to just make it to the big leagues. It has become a tradition in this industry to have salary disputes and lockouts. However, what is really at the root of these negotiations? Maybe the players are being greedy and want more money and perks just to play. I used to think this way, but now I am not so sure that the players don’t truly deserve every penny they get. I don’t think there is one person who could argue that professional athletes are very good at what they do. These athletes have tremendous dedication to the games they play. Getting to the professional level is not as easy as it seems. Many high school basketball players dream of being the next Kobe Bryant or Lebron James, but the truth is that according to the National Collegiate Athletic Association (NCAA), there’s only a . 03% chance that they will make it from high school to the NBA, with a slightly higher chance of going from the NCAA to the NBA being 1. 2%. Professional Athletes are in an elite league. The amount of time and effort they put into their training to maintain their bodies’ is extraordinary. Many people argue that especially in today’s economy where people are barely making their mortgage payments or deciding between utilities and groceries, it is hard to hear about a professional athletes quarrel over the millions in salary they should earn just to play a game. Many people spend the majority of their lives working hard to only earn a small fraction of what a professional athlete makes in one year. Are the athletes the only ones at fault for these gargantuan salaries? I don’t think so. There are many rofessionals out there that make more than these athletes and no one complains about them. Consider the owner of Starbucks, Howard Shults, who made $98 million in 2008 for selling coffee products. That’s more than Brees, Bryant and James put together. Athlete’s become larger than life figures in person and with their salaries because of their fans. Everyone at some point in their lives has purchased tickets or merchandise relating to one of their favorite athletes. We are the ones that continue to perpetuate the ability for them to earn more and more each year. We constantly buy into the sports mania of official licensed merchandise, tickets, food and beverages at every venue. We as a society spend our hard earned money to see and be entertained by these athletes year after year. If people have a problem with the amount of the salaries they make, maybe they should stop going to games or refrain from buying their kid a jersey with their favorite players number on it. If society doesn’t buy into the sport then there is no money to be made. If there is no money to be made then there is no interest in bring the events to the fans. Let’s face it the sports industry is just that, an industry and business. Businesses are out to make money. To do that they need to have a product people want and in sports the athletes are the product. These athletes are just employees of the business they are in trying to get the most out of what they put in. Many of us get inspired when we see the achievements of some athletes. They sometimes help us see our own potential if we work as hard as they do. One of the most important reasons professional athletes deserve their pay is the beatings they take on their bodies’ season after season. Every time a player runs onto the field or court they run the risk of a season and sometimes life threatening injury. For example, according to Health Day newsletter the percentage for concussions in the NFL rose 21% in 2010. In 2010 the league reported 154 concussions in just the first half of the season. Many of us will recall the devastating injury of Buffalo Bills player Kevin Everett in 2007. Everett suffered a fracture vertebra and it was questionable whether he would ever be able to walk again. Many occupations don’t require that you intentionally put yourself in harm’s way for the sake of entertaining an audience. I realize professional athletes love what they do and would change their occupations for anything, but as a society we should recognize that their lives are not always as glamorous as it seems. After years of battle wounds their bodies are full of aches and pains. Many injured players find it hard to get health insurance because of the high cost to insure them and the fact that many insurance companies refuse to cover pro athletes. Professional athletes in general have a short career life. The average person will retire between the ages of 65-75. However, Drew Brees’ career will most likely be over in 5 years at the young age of 38. Although many players go on to have alternate careers after their professional athletic career, many are too beat up or don’t have the skills to perform any other type of career. Bottom line is we as fans create the demand for these professional athletes to continue to raise the bar for our own entertainment. It’s all about supply and demand. The sports industry is willing to supply us with the extraordinary talents these athletes bring to the fields and courts and we as a society continue to demand more out of them. The more we demand the more they supply, the more they supply they more we pay and the more the athletes will be paid. Athletes are not paid for what they do; they are paid because people want to watch what they do. So again I must state professional athletes are very good at what they do and deserve every penny they get for the hard work and dedication they put in to just make it to the big leagues and entertain fans.

Immigration causes Essay

Groups, societies, or cultures have values that are largely shared by their members. The values identify those objects, conditions or characteristics that members of the society consider important; that is, valuable. In the United States, for example, values might include material comfort, wealth, competition, individualism or religiosity. The values of a society can often be identified by noting which people receive honor or respect. In the US, for example, professional athletes are more highly honored than college professors, in part because the society values physical activity and competitiveness more than mental activity and education . Young people Old people are more annoying by far. They are so quick to degrade and stereotype younger people even though every group has had their criminals and bad apples. They are rude and think they can say or do anything to anyone without the other person having any recourse. I have been victimized numerous times by older people and all old people can do is keep degrading us. So I chose Young people because that has a no one can touch me attitude, demo and think they know everything . Science and technologies The distinction between science and technology is not always clear. Science is the reasoned investigation or study of phenomena, aimed at discovering enduring principles among elements of the phenomenal world by employing formal techniques such as the scientific method. Technologies are not usually exclusively products of science, because they have to satisfy requirements such as utility, usability and safety. Technology is often a consequence of science and engineering Ââ€" although technology as a human activity precedes the two fields. For example, science might study the flow of electrons in electrical conductors, by using already-existing tools and knowledge. This new-found knowledge may then be used by engineers to create new tools and machines, such as semiconductors, computers, and other forms of advanced technology. In this sense, scientists and engineers may both be considered technologists; the three fields are often considered as one for the purposes of research and reference . Human rights The concept of human rights has existed under several names in European thought for many centuries, at least since the time of King John of England. After the king violated a number of ancient laws and customs by which England had been governed, his subjects forced him to sign the Magna Cart, or Great Charter, which enumerates a number of what later came to be thought of as human rights. Right of women Nowadays we take it for granted that women have the same rights as men before the First World War few people believed this . As far as work was concerned there were jobs wish were regarded as women’s jobs and other which were regarded as men’s jobs. Women’s jobs were generally lower paid as men’s. Men did almost all the heavy jobs in industry or in transport . Women had jobs like dress-making, cleaning or worked as servants . Women’s main role was as being to raise children and look for their home. Women were not expected to take position of leaders chip . Women’s role in development Women’s participation in development has vital benefits. In the case of morocco, this participation takes place at there main levels: the social this political and the economic. First, we can’t ignore the active contribution of women in our society as nurses, teachers or mothers and wives. As nurses. women give help to patients in hospitals. as teachers ,they teach the young generation and the illiterate. as mothers and wives, they bring up kids tube good citizens. Second, there are many women who take leading position in the government with a desire to encourage democracy, and establish freedom and equal rights at the components of our society. Citizenship is membership in a society, community, city or town but now usually a country and carries with it to political participation; a person having such membership is a citizen. Citizenship status often implies some responsibilities and duties. It is largely coterminous with nationality although it is possible to have a nationality without being a citizen legally subject to a state and entitled to its protection without having rights of political participation in it); it is also possible to have political rights without being a national of a state. In most nations, a non-citizen is a non-national and called either a foreigner or an alien Citizenship , International organization International Organization is a leading peer-reviewed journal that covers the entire field of international affairs. Subject areas include: foreign policies, international relations, international and comparative political economy, security policies, environmental disputes and resolutions, European integration, alliance patterns and war, bargaining and conflict resolution, economic development and adjustment, and international capital movements. Published on behalf of the International Organization Foundation. Drop out of school Increasing stress in school, at work, and at home has caused many students to drop out of school to escape their problems. With this increasing amount of stress and work, some students have become very frustrated and depressed. Students then drop out of school and take the easy way out to eliminate some of that stress . Brain drain The migration of skilled individuals from developing countries has typically been considered to be costly for the sending country, due to lost investments in education, high fiscal costs and labor market distortions. Economic theory, however, raises the possibility of a beneficial brain drain primarily through improved incentives to acquire human capital. Our survey of empirical and theoretical work shows under what circumstances a developing country can benefit from skilled migration. It argues that the sect oral aspects of migration and screening of migrants in the receiving country are of major importance in determining the welfare implications of the brain drain. These issues, as well as the size of the sending country, duration of migration and the effect of Diaspora populations, should be addressed in future empirical work on skilled migration. Brain drain† is the phenomena whereby nations lose skilled labor because there are better paid jobs elsewhere. In recent years , this has affected poorer countries more so, as some rich countries tempt workers away, and workers look to escape bleak situations in their poor home countries. Sustainable development Sustainable development is a pattern of resource use that aims to meet human needs while preserving the natural environment so that these needs can be met not only in the present, but in the indefinite future. The term was used by the Brandt and Commission which coined what has become the most often-quoted definition of sustainable development as development that â€Å"meets the needs of the present without compromising the ability of future generations to meet their own needs.† The field of sustainable development can be conceptually broken into three constituent parts: environmental sustainability, economic sustainability and social . Humor I think that the best things to relief from stress is to watch some sitcoms or hear something funny like jokes Â…person should develop his sense of humor and he should be cool , Comic and optimistic, because some expert of mental .health have noted that we can’t imagine going through a day without laughter. Humor will make every part of your life better. It will help you trough difficult times and it will help you make the good times even letter, also i twill attract good people and good situations to you .

Disney case Essay Example

Disney case Essay Example Disney case Essay Disney case Essay Executive Summary The Walt Disney company is based in Burbank, California and is a diversified international company. It is well known for its business divisions in entertainment motion picture, TV, consumer products as well as various real estate projects. In 1984, Disney and its subsidiaries posted outstanding results, as consolidated revenue increased by almost 27% to $1. 7 billion and net income increased 5% to $97. 8 million. In addition, Disney has also grown through acquisitions: assets have increased 15% to $2. 7 billion in 1984. In this case, we attempt to solve Disneys dilemma with Tokyo Disneyland. Tokyo Disneyland opened in April 1983 and Disney has been receiving pergola royalty receipts In exchange Tort use AT I TTS Dragon. I en problem Is Tanat Wendell ten royalty receipts are denominated in Yen, the Yen has been experiencing a trend of depreciation, which erodes the receipts values. Disney has begun work with Goldman to figure out the best way to hedge the exposure, as well as to acquire the cheapest cost of financing. Our analysis suggests that Disney should accept the method proposed by Goldman Cash, where it would issue an Echo-denominated bond and then enter into a currency swap. This would lower the cost of borrowing. Details of our analysis are presented in the rest of case. Introduction As indicated previously, the chief problem for Disney is how to hedge its exposure to a depreciating yen, which would decrease the value of the royalty receipts. As indicated in the case, in 1984 the spot Yen/$ rate is 248, which is almost an 8% depreciation from Just a year ago. To make matters worse, the receipts are expected to grow at 10%-20% per year over the next few years, which would further increase Disneys currency risk. There are numerous methods a company can hedge currency sis, such as through FIX forwards, futures and swaps. In particular, we will explore Goldman Cash proposed method way of entering into a foreign currency swap. This would create a Yen liability, which would allow Disney to pay out its Yen receipts and not worry about their depreciating value. Before we discuss the currency swap, lets first walk through all the options Disney has at its disposal. Disneys Options While there are many different methods of hedging, we should look into the cheapest option. We will look into methods such as 1) futures/options, 2) forwards, 3) WAP, 4) bank loan and, finally, 5) the combination of an ICE bond issuance a subsequent Acumen Swap proposed by Goldman Cash. 1) Futures/Options: FIX futures and options are the conventional methods of hedging, since they are market- priced and have high liquidity. The values of these futures and options contracts would theoretically offset gains losses of the Yen royalty receipts and thus hedge currency risk. Unfortunately, according to the case, the liquid options and futures contracts only existed for maturities of two years or less. This would not work out for Disney, which would need hedging for receipts beyond Just two years. 2) Forwards: The other method to hedge would be forwards. Forward options are not exchange- traded and are thus much less liquid. This can be observed via the Bid/Offer chart in the case, which provides rates for Yen Long-Dated FIX Forwards. The liquidity can be seen through the wide Bid-Ask offer spread, especially in longer maturities (e. G. Spot spread is 90 basis points, versus 460 basis points for 5-Year contract). Clearly, Forwards suffer the same liquidity problem as Futures/Options: only short-term trusties have acceptable rates, but Disney needs medium to long term hedges. Not to mention, FIX Forwards would be perceived by banks as risky and thus tie up Disneys credit lines, which are needed for daily operations. 3) Foreign-currency Swap (Swap Only): On the surface, this would work in Disneys favor because it can be customized to cater to Disneys needs (e. G. Longer maturity). Its also a method it has attempted before, in the previous year. Unfortunately, the swap would also only be short-term, since the current Arteriolar debt on Disneys balance sheet all mature in en to four years. Disney also believes that attractive swap rates for maturities less than four years were hard to find in the market. In addition, due to Disneys most recent Arteriolar issuance and high Debt/Equity ratio, Disney could not issue a long- term Arteriolar Dona (ten market would flew It negatively). Not to menthol, a swap would not provide additional funds to Disney, as it would only swap the interest payments. Disney was looking for additional funds to pay down some of its short- term liabilities the swap alone would not accomplish this goal. 4) Bank Loan from Japanese Bank: The other alternative would be to borrow directly from a Japanese bank at its prime rate. This would create a Yen liability, which would be paid using the royalties Disney receives from Tokyo Disneyland. This would rid Walt Disney of its Japanese receipts and hence reduce its exposure to a depreciating Yen. If Walt Disney were to pursue this option, it estimated it could borrow at a rate of 7. 50%, paid semi-annually. This option would not only hedge currency risk, but also provide funds needed to pay down Disneys short-term liabilities. 5) Goldman Cash Method ICE Debt Issuance Acumen Swap: Goldman Cash believes that while a Japanese bank loan could possibly work, an even better option would be an ICE issuance combined with an Client Swap. The ICE proceeds would be converted into dollar to pay off some short-term liabilities, and the swap would allow Disney to create a Yen liability. This would accomplish two objectives: allow Disney to hedge against a depreciating currency as well as provide funds to reduce its debt. We now evaluate this option in more detail. Cost of Funding (Before Swap) The first step in our swap analysis is to find the Quality Spread Differential (SD). Disney should only enter the swap if it provides a benefit to both sides. A positive SD would indicate that the Swap would lower the cost of funding. Our analysis indicated a positive SD of 0. 82%, as shown in Exhibit 1. Here are the details on the specific numbers: Disney (Yen): As indicated in the case, Disney has the option of getting a term loan from a Japanese bank. It can obtain a 15 billion yen 10-year bullet loan at 7. 50% and front-end fees of 0. 75%. The debt cash flow schedule can be seen in Exhibit 2. The cost of yen of 7. 753% takes into account the front-end fee. Disney ECHO): If Disney were to acquire an ICE loan, it would have a cost of 9. 473%. The cash flow schedule (which includes periodic contributions to a sinking fund) is shown in Exhibit 2. Its important to note that the bond trades at a 25 basis point premium. Also, it has a dollar expense of $75,000. These two figures are taken into account when calculating the cost. French Utility (Yen): The French Utility companys debt schedule shows all current outstanding debt. The only Yen debt it has on its balance sheet has a YET of 6. 83%. This would be its cost of debt if it were to borrow Yen. French Utility (ECHO): The same debt schedule shows two ICE bonds one issued in 1982 and the other 1985. We will use the YET of the most recently issued bond of 1985, which has a YET of 9. 37%. Quality Spread Differential As previously stated, our analysis shows a positive SD of 0. 82%, which suggests a Swap would be ideal for both parties to lower borrowing costs. Most of the differential comes from Yen financing, where the difference was 0. 92%, versus 0. 10% for ICE financing. In terms of advantage, it appears that the French Utility company has an absolute advantage when it comes to financing in both currencies. This is because it has a lower cost of financing in both currencies. Disney, on the other hand, has a comparative advantage in ICE financing, since it has less of a disadvantage at 0. 10%. Our chart suggests that Disney should borrow in ICE and the French Utility should borrow in Yen (and subsequently swap the interest payments). This will take advantage AT Don companies comparative advantage Ana lower ten overall cost AT borrowing. Cost of Funding (After Swap) Using the provided swap cash flow schedule in the case, we can calculate the swap cost of funding. The assumption is that the exchange rates are constant: $/ICE f 0. 7420 and Yen/$ of 248. Disney (Yen Swap Cost): Since Disney is borrowing in ICE but paying Yen in the swap, we must first convert the ICE proceeds into Yen (Note: This is for calculation purposes only. In real life, as indicated in the case, Disney would convert the ICE proceeds into Dollars to pay off a portion of its short-term debt). A detailed calculation can be found in Exhibit 3. Once again, its important to note that the bond trades at a 25 basis points premium, has a 2% fee and a $75,000 fee (which must be converted from dollars to yen). This gives us a net Yen amount of 14,445,057,600. Our calculation gives us a yen swap cost of 7. 010%. French Utility (ICE Swap Cost): The French Utility company would be receiving Yen from Disney while paying ECHO. To calculate the cost of paying ECHO, we need to discount the Yen payments and convert it to ICE (again, for calculation purposes only). The resulting total prevent value would be the Year O proceeds. As shown in in Exhibit 3, the Poof the Yen payments is 14. 6 billion, which converts to 79. 296 million ECHO. Using the 79. 296 as the Year O proceeds and the subsequent ICE swap interest payments, we come up with an ICE swap cost of 9. 350%. BIG Fees: To calculate the fees received by BIG for facilitating the swap, we look at the last column in Exhibit 4. To calculate the fees, we took the difference between the ICE received by Disney and the ICE paid out by the French Utility Company. Our calculation shows that BIG will receive 50 million yen from years O to 6, and then decreasing by 10 million yen every year until year 10, when it will receive 10 million yen. Comparison: No Swap vs Yes Swap We review our cost of funding in Exhibit 5. As shown in the chart, it makes sense for Disney to enter the swap, because it would reduce its cost of funding. If Disney uses a swap, it would incur a borrowing cost of 7. 10%, which is 0. 7428% lower than if Disney were to not use a Swap. On the other hand, if the French Utility company uses a swap, it would incur a borrowing cost of 9. 35%, which is 0. 0202% lower than if it were to not use the swap. Our numbers show that the swap helps Disney more than it helps the French Utility company. For Disney, a lower cost of 74 basis points is a lot higher than French Utilitys saving on 2 basis points. Bene fits Liabilities of the Swap From our model, it appears that the swap would work best for Disney. However, there are undoubtedly risks involved with our model as well as the swap. We now discuss in detail some of the risks. Exchange Rate Risk: In our model, we held the exchange rate constant for 10 years: $/ICE at 0. 7420 and Yen/Dollar at 248. However, this is clearly not realistic, as currency fluctuation is bound to occur in the 10 year period. For Disneys purposes, the best situation would be if the Yen continues to depreciate. This would mean that Disney will pay out the same nominal amount, but the value of the payment would be less. Borrowing Cost Risk: In our model, to assess he Quality Differential Spread, we looked at current market rates as indication of future borrowing rates. However, given market fluctuations (e. G. Higher Treasury yields), the borrowing rate rate could very well change by the time of the Swap. This is especially true for Disney: given its string of acquisitions and rapidly increasing Dent to Equity rattle, now would ten market perceive another Dona Issuance? WSDL investors demand higher interest rates to compensate for the risks? Conclusion Based on our analysis, we recommend that Disney should accept the method reposed by Goldman Cash.

John Tyler - Tenth President of the United States

John Tyler - Tenth President of the United States John Tyler was born on March 29, 1790 in Virginia. Not much is known about his childhood though he grew up on a plantation in Virginia. His Mother died when he was only seven. At twelve, he entered the College of William and Mary Preparatory School. He graduated from the College proper in 1807. He then studied law and was admitted to the bar in 1809. Family Ties Tylers father, John, was a planter and  supporter of the American Revolution. He was a friend of Thomas Jefferson and politically active. His mother,  Mary Armistead - died when Tyler was seven. He had five sisters and two brothers. On March 29, 1813, Tyler married  Letitia Christian. She served briefly as First Lady before suffering a stroke and dying while he was president. Together she and Tyler had seven children: three sons and four daughters. On June 26, 1844, Tyler married Julia Gardner while he was president. She was 24 while he was 54. Together they had five sons and two daughters.   John Tyler's Career Before the Presidency From 1811-16, 1823-5, and 1838-40, John Tyler was a member of the Virginia House of Delegates. In 1813, he did join the militia but never saw action. In 1816, Tyler was elected to be a U.S. Representative. He strongly opposed every move towards power for the Federal government that he saw as unconstitutional. He eventually resigned. He was Governor of Virginia from 1825-7 until he was elected a U.S. Senator. Becoming President John Tyler was the Vice President under William Henry Harrison in the election of 1840. He was chosen to balance the ticket since he was from the South. He took over upon Harrisons quick demise after only one month in office. He was sworn in on April 6, 1841 and did not have a Vice President because no provisions had been made in the Constitution for one. In fact, many tried to claim that Tyler was actually only Acting President. He fought against this perception and won legitimacy. Events and Accomplishments of John Tyler's Presidency In 1841, John Tylers entire cabinet except for Secretary of State Daniel Webster resigned. This was due to his vetoes of laws creating the Third Bank of the United States. This went against his partys policy. After this point, Tyler had to operate as president without a party behind him. In 1842, Tyler agreed to and Congress ratified the Webster-Ashburton Treaty with Great Britain. This set the boundary between Maine and Canada. The border was agreed upon all the way to Oregon. President Polk would deal in his administration with the Oregon border. 1844 brought the Treaty of Wanghia. According to this treaty, America gained the right to trade in Chinese ports. America also gained the right of extraterritoriality with U.S. citizens were not under the jurisdiction of Chinese law. In 1845, three days before leaving office, John Tyler signed into law the joint resolution allowing for the annexation of Texas. Importantly, the resolution extended 36 degrees 30 minutes as the mark dividing free and slave states through Texas. Post Presidential Period John Tyler did not run for reelection in 1844. He retired to his farm in Virginia and later served as Chancellor of the College of William and Mary. As the Civil War approached, Tyler spoke for secession. He was the only president to join the Confederacy. He died on January 18, 1862 at the age of 71. Historical Significance Tyler was important first of all for setting the precedent of his becoming president as opposed to just Acting President for the rest of his term. He was not able to accomplish much in his administration due to the lack of party support. However, he did sign the annexation of Texas into law. Overall, he is considered to be a sub-par president.

Film Essay Example | Topics and Well Written Essays - 500 words - 7

Film - Essay Example Claireese Precious Jones a.k.a. Precious (Precious), lives in the ghetto area with her unemployed mother, who only lives off of the government’s welfare assistance. On the other hand Michael Oher (The Blind Side) merely sleeps on the couch of one black maintenance guy who works at Wingate School since he was separated from his mom, who is a drug addict. Both of these main characters are also victims in their respective families – Precious was sexually abused by her father, and physically abused by her mother. Likewise, Michael or â€Å"Big Mike† has been a â€Å"ward of the government† because of his mom’s drug addiction, and her mother doesn’t even know who his father is. In the same way, Precious and Michael started off in the film as aloof or distant from everyone. For Precious, it was due to her mom’s penchant on calling her â€Å"stupid†, and telling her to â€Å"forget that school shit† because school will not give her anything. Her mom repeatedly drilled in Precious’ head the conservative notion that the woman’s existence is only to bear children and take care of the home. Similarly, from Michael’s standpoint, it was because of his fear of getting rejected since he had no family left to run to. Getting accepted into Wingate with the help of a friend was a blessing, but he didn’t want to be a burden to anyone so he isolated himself from most people. Both Precious and Big Mike grew up in environments which were not conducive to learning, hence their illiteracy at their age. The 2 characters are also somehow insecure of their looks because Precious was obese, and Michael was tall and bulky. In both cases, the school acted as a kind of a sanctuary where each of them was able to discover his/her true self-identity and to eventually find hope, new friends and achieve better lives. Precious and Michael were both able to rise above their past and turn over a new leaf. At t he film’s end, both characters are

The Effect of Ethnicity on Our Perception of the World around Us Essay

The Effect of Ethnicity on Our Perception of the World around Us - Essay Example It is therefore fair to say that physical matters aside, none of us are unique in our traits or qualities either. We are the result of the biases and perception of each one of those persons, collected into one big trend, and transmitted into us, which we will in turn transmit to another human. These biases and perceptions in turn affect the biases and perceptions of other such collective individuals, which we come to know as races. As a result, we find it an endless cycle, where our race affects our identity, and our perception of the world around us, and therefore the actions we take in that world. This in turn cements our identity and develops those traits that are the characteristic of our race, and in turn restarting the cycle. The effect of race or ethnicity on our identity and thereby perception of the world around is a theme explored in many of the stories and poems in Sherman Alexie's book, War Dances. As a Native-American himself, he drew out on many of his own experiences o f that fact and incorporated them into providing a personal insight into the unique stories and poems. There are many examples of this in the very first story, Breaking and Entering, where the protagonist of the story finds himself in a fix for killing a young African-American who attempted to break into his house. The effect of ethnicity upon perception is overwhelmingly prevalent throughout the story. For example, when the young man breaks into his house, the protagonist immediately assumes danger. As it is written, 'I didn't think, there's a black teenager stealing from me. I only remembered being afraid and wanting my fear to go away (Alexie, 2009, page10).' Did it make sense to be afraid of a 17 year old boy, who was stealing DVDs from the television rack? The protagonist himself states that he could not have been sure he had been breaking in with the intent to harm. He states that he had no reason to get violent and protective. Not only was his family out of town and therefore there being no one to protect, but also because the young man seemed to pose no certain threat. He had no weapons, he was not being violent. In fact, he entered the house only after making certain, in his view, that there was nobody home. Why then, would it make sense to harm him? Because as the author said, he was afraid. Perhaps if he had been in a white neighborhood and a black teenager had broken in he would have had the sense to talk to the boy. But being white in a prevalently black neighborhood might have played a subconscious role in the man's being afraid, even though it did not consciously cross his mind. Furthermore, when the protagonist ends up killing the boy and investigation is conducted into the crime, he is not charged guilty with anything, as it was a crime of self-defense. This fact, the fact that in their eyes, a white man was acquitted of the murder of a black man, makes it a matter of injustice and inequality in the eyes of the black boy's family. Would a prot est have been conducted if a white man was held innocent in the death of a white boy, under the assumption and likelihood of self-defense? It is unlikely that every death that occurs under the self-defense notion is met with protests, as the law would undoubtedly have been changed if it was. But this murder, because it seemed that a white man, living in a black neighborhood was allowed to walk free, after the death of a 17 year old boy who had no weapons, no criminal record, no intent to