Analyze an ad Essay Example | Topics and Well Written Essays - 1750 words

Investigate a promotion - Essay Example In order to limit the earnestness of the message, visual images are applied (Danna 100). For example, in the ‘father and mother I love you’ advertisement, there were no genuine individuals used to depict the message, just the moving letters F-A-M-I-L-Y and cartoons. This article breaks down the ‘father and mother I love you’ advertisement as far as social thoughts and the nature and adequacy of the manner of speaking utilized. Examination The ‘family and mother I love you’ promotion depicts the jobs of guardians in the family: the dad as the ‘pillar’ and ‘shelter’ and mother as the light and watchman. It is a figurative advertisement as in it just uses images to impart its message. The word ‘family’ is at the focal point of the promotion and it shows the progressions the ‘family’ experienced. It shows how the dad and mother care for the family, how the youngster grows up, how s/he in the long r un left the family to have an existence of his/her own, how the guardians matured, and how their adult kid comes back to them to assume control over the duty over the family. The underlying foundation shows a home, and afterward the last part shows the outside reality where difficulties are experienced, which is represented by the downpour. Social thoughts and generalizations are viably utilized in this commercial. It inspires an incredible enthusiastic effect since it offers to the customary thought that the family is about adoration, empathy, and penance, particularly with respect to the guardians. One of the fundamental social thoughts utilized is that we should assume liability of our folks when they are getting more established. Our folks dealt with us when we were youthful and still powerless, thus it is our obligation to deal with them when they get old and feeble. This type of familial duty is grasped in most Asian societies. In numerous Asian nations, the kids are relied up on to deal with their folks when they grow up. It is a disfavor to leave the guardians in an establishment or move the duty of thinking about them to a family member or expert parental figure (Adamson 88). Then again, in a few Western nations, guardians anticipate that their kids should be autonomous and figure out how to deal with themselves, not their folks (Rama 24). In any case, in progressively conventional Western homes, the family is as yet the most significant piece of children’s lives. There are additionally social generalizations utilized. The guardians are demonstrated to be simply the adoring and yielding individuals in the family. It proposes that guardians ought to never be baffled by their youngsters. It attempts to state that we are here a result of our folks and that reality alone is sufficient to cause us to recall our duty to our folks. There are various guardians on the planet who feel baffled and disillusioned of their kids in light of their absence of re gard and reckless disposition toward their family. This is delineated in the advertisement where the ‘I’â€the childâ€begins to defy his/her folks and disrupt their guidelines. The mistake of ‘F’â€the fatherâ€and ‘M’â€the motherâ€is appeared by their crying. In any case, numerous guardians endure their children’s stupidity and pardon their missteps due to parental love and penance. These guardians are happy to tolerate the agony just on the off chance that it implies comfort and a decent life for their youngsters. In this manner the social stereotyp

Free essay example on Cubism Example For Students

Free paper model on Cubism Cubism is one of the primary types of unique workmanship. Cubism was a development in painting that looked to separate items into fundamental states of 3D shapes, circles, chambers, and cones. Cubism started in France and was impacted by African models and by Paul Cezanne. The main cubist works were those in which articles, scenes, and individuals are spoken to the same number of sided solids. This empowers you to see different perspectives on the item simultaneously. Afterward, cubism changed utilizing a compliment sort of deliberation, in which the total example, turns out to be progressively significant, and the articles spoke to are to a great extent garbled. From the outset, most specialists painted with little shading. Most works of art were either monochromatic or dark, blue, earthy colored, and white. The last period of cubism is called engineered. In this stage shading returns as an essential component in the craftsmanship. Cezanne was a craftsman who drove the best approach to cubism or unique workmanship. Prior to Cezanne, craftsmen would depict the world everything being equal. It is most importantly CãÆ'â ©zannes fixation on formal components of structure and his utilization of shading as tone as opposed to the Impressionist quest for light on surface that makes his specialty so imperative to the individuals who followed. CãÆ'â ©zannes works made it feasible for specialists to begin to address what they saw, the manner by which they saw it, and how they deciphered and spoke to what was before them. Cezanne felt that compositions ought to reflect craftsmen sensations made into a pictorial structure by brush strokes, shading, and lines. He was known to work gradually and use hues to assemble shapes. In the still-life pictures that he made of leafy foods one can tell that he worked gradually as there are unique and negating shadows in his photos. Right off the bat in his profession Cezanne wanted to paint Sainte-Victoire scenes. Later he painted pictures, for example, Woman with a Coffee Pot and The Card Players. At the point when he started to paint scene again he utilized the bathers in his compositions. Later Cezanne would greatly affect Picassos compositions. Pablo Picasso is one of the most acclaimed cubists. As he grew up his dad urged him to turn into a craftsman. From 1901 to 1904 is known as the Blue Period since Picasso utilized blue tones when he painted and his artistic creations indicated destitution, passing, and visual impairment. The Blue Period denotes an intentional advance towards a plastic portrayal of structure and enthusiastic topic. From 1904-1906, the Rose Period is when Picasso painted carnivals, entertainers, and harlequin. This is the point at which he sees family in Barcelona, Spain, and invigorates his recollections of Romanesque and Gothic workmanship. Significantly increasingly essential to him as of now was the disclosure of Iberian model dating from pre-Roman occasions, instances of which had been as of late obtained by the Louver. They pulled in him by their strange extents, their negligence for refinement, and their discourteous brutal quality. These impacts quickly increased a significant spot in his work, and lead to the sculptural twists of nudes painted on his arrival to Paris. From 1907-1909 is known as the Negro Period. The works of art of Cezanne got comfortable to Picasso. Picasso had likewise found the enormity of a dark elderly person, Douanier Rousseau. These were the years when the intensity of crude workmanship imported from Africa and the South Seas was starting to be seen by specific painters in Paris, and styles which had officially been detested as savage was perceived as having extraordinary emotive quality. Picasso painted Les Demoiselles dAvignon to recover crude workmanship. The new style relied specifically upon a rearrangements of structure and an explanation of the techniques by which it was portrayed. .u6a43272b49f948d0f6ba38471a04bc76 , .u6a43272b49f948d0f6ba38471a04bc76 .postImageUrl , .u6a43272b49f948d0f6ba38471a04bc76 .focused content territory { min-tallness: 80px; position: relative; } .u6a43272b49f948d0f6ba38471a04bc76 , .u6a43272b49f948d0f6ba38471a04bc76:hover , .u6a43272b49f948d0f6ba38471a04bc76:visited , .u6a43272b49f948d0f6ba38471a04bc76:active { border:0!important; } .u6a43272b49f948d0f6ba38471a04bc76 .clearfix:after { content: ; show: table; clear: both; } .u6a43272b49f948d0f6ba38471a04bc76 { show: square; change: foundation shading 250ms; webkit-progress: foundation shading 250ms; width: 100%; haziness: 1; progress: murkiness 250ms; webkit-progress: mistiness 250ms; foundation shading: #95A5A6; } .u6a43272b49f948d0f6ba38471a04bc76:active , .u6a43272b49f948d0f6ba38471a04bc76:hover { obscurity: 1; progress: darkness 250ms; webkit-change: darkness 250ms; foundation shading: #2C3E50; } .u6a43272b49f948d0f6ba38471a04bc76 .focused content zone { width: 100%; position: rela tive; } .u6a43272b49f948d0f6ba38471a04bc76 .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; content enrichment: underline; } .u6a43272b49f948d0f6ba38471a04bc76 .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .u6a43272b49f948d0f6ba38471a04bc76 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt span: 3px; box-shadow: none; text dimension: 14px; textual style weight: intense; line-stature: 26px; moz-fringe sweep: 3px; content adjust: focus; content design: none; content shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: total; right: 0; top: 0; } .u6a43272b49f948d0f6ba38471a04bc76:hover .ctaButton { foundation shading: #34495E!important; } .u6a43272b49f948d0f6 ba38471a04bc76 .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .u6a43272b49f948d0f6ba38471a04bc76-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .u6a43272b49f948d0f6ba38471a04bc76:after { content: ; show: square; clear: both; } READ: Pablo Picasso And Cubism EssayWith a negligence for old style custom, mutilations were utilized openly to stress volume and pass on passionate sensation. Picasso said I paint questions as I might suspect them, not as I see them. Picasso was progressively attracted to making manifestations as per his own inside vision. In African workmanship he had discovered a reasonable craftsmanship which did not depend on quick visual responses to a model. The first effect had been vicious. It had manufactured the principal genuine connection between African craftsmanship and Western thoughts and it was followed during the two years that succeede d the artwork of Les Demoiselles dAvignon. Now Braque and Picasso started to explain and organize another origination of the painters experience. They felt that they ought to investigate an article, separate it shapes, straighten them, change hues, and reassemble them with the goal that they could be imagined from all edges. This strategy was called scientific cubism. Engineered cubism is found in the painting The Three Musicians now new method of paper montage end up being a significant revelation. There was an arrival to shading, and surface turned out to be significant. The distinction between the two periods of cubism may likewise be characterized as far as picture space: aspect cubism holds a particular sort of profundity, the painted surface goes about as a window through which we despite everything see leftovers of the natural point of view space of the Renaissance. This space lies behind the image plane and has no obvious cutoff points; it might contain objects that are escaped our view. In arrangement cubism, despite what might be expected, the image space lies before the plane of the plate; Space is made not by illusionistic gadgets, for example, displaying or foreshortening, however by real covering of layers of glued materials. Later Picasso made numerous compositions of female figures where he accentuated the completion of their structure. During the war he painted Guernica which joins a fierce surrealist contortion and shading. After the war he painted The Three Dancers which was the primary painting to show fierce bends where the human structure is destroyed, he creates new life systems fusing the universe of dreams blended in with the real world. Picasso did models, lithographs, and pottery. In a large number of his craftsmanships you can see a bull. As initially brought about by Picasso and Braque, Cubism offered a conventional control of unobtrusive equalization, utilized for customary subjects-stillâ life, picture, the naked. Different painters, in any case, found in the new style an exceptional liking with the geometric exactness of building that made it extraordinarily receptive to the dynamism of present day times. Georges Braque drove the advancement of Cubism with Picasso. The characteristics which recognize his Cubist artworks from Picassos-his familiar painterliness and his regular capacity as a rich yet unpretentious colorist-dominating in a work like Guitar and Jug the still life remained his guideline topic from the Gueridon Series to the climatic Atelier Series in which the extent of the still life reaches out to incorporate the studio, the craftsman, his model and even the composition itself. A significant number of his works depict geometric types of the subjects, yet the subjects in a considerable lot of his compositions are unrecognizable. There are two different cubists worth referencing. Ferdinand Ledger utilizes present day innovation in his compositions. He utilizes machines, development laborers, and the workingman in a large number of his canvases. Juan Gris utilizes Synthetic cubism and his artistic creations make their own world instead of mimicking the truth of nature. The craftsmanship pundits are right when they state that Cubism changed workmanship. The cubists Braque and Picasso created craftsmanship autonomous of the real world. They felt a craftsman could look past the shallow appearance of what they painted. The specialists turned out to be liberated from his customary commitment to paint regular appearances as outlined in a large number of their compositions. A craftsman had the option to misshape, concoct, make, and put their fantasies into their works of art. Numerous peop

Women in the Workforce Essay Example for Free

Ladies in the Workforce Essay As a youthful a lady living in the 21st century I can just accept that ladies have each motivation to be a piece of the workforce. In today’s world headway we have all the innovation should have been ready to make adjusts between our family and work life. In the past times ladies were seen to be feeble contrasted with men, since employments required increasingly physical capacities then mental and basic reasoning capacities. Along these lines, men were given the working piece of the family’s foundation and ladies were given the consideration giving for the youngsters part. Today, things are extraordinary. Employments have abandoned being just truly situated to rather more critical thinking and thinking focused. Furthermore, this makes more open doors for ladies to join the workforce. Besides, I figure ladies should join the work power since it is demonstrated that when a lady in a family is working almost certainly, the family will transcend the destitution line. Studies done in Bangladesh by Mohammad Yunus, the organizer of the small scale financing Grameen Bank, show that when the lady in a family is allowed to create pay for her family unit she generally makes a superior showing with getting her family out of neediness. Ladies are guardians in nature, and whenever allowed to improve the expectation for everyday comforts of their children’s lives they will make a superior showing dealing with the cash and funds. My last explanation is that I think at long last, lady or man, we as people ought to be given equivalent chances to investigate our maximum capacity. Regardless of what sort of occupation or art or pastime we may be doing, we should all be allowed to flourish and thrive in this existence without any limitations. Regardless of what race sex or ethnicity we should all have the option to do what we love.

Monetarization of Environmental Assets Essay Example | Topics and Well Written Essays - 1750 words

Monetarization of Environmental Assets - Essay Example While this methodology was sensible previously, the mechanical insurgency and its related impacts, for example, expanded pace of populace development began to cause a significant level of human effect on the earth. In the course of recent hundreds of years, it has gotten progressively obvious to most earthy people that human effects on nature are irreversible and this may in as far as possible the capacity of people to keep flourishing with the planet (Khalil, 1999). Over a period traversing the most recent three decades, there has been a worldwide worry over this issue and the quest is as of now in progress for the foundation of techniques that will help in the minimization of human effects on nature while simultaneously improving the personal satisfaction of the billions of individuals that are as of now living in contemptible destitution over the globe.Cost-advantage investigation is commonly an examination of the different increments in human prosperity (benefits) and the decreas es that mankind encounters in social government assistance (costs) as applied to a given approach or action.In this respect, for a given strategy or venture to have the option to qualify as being suitable as dependent on money saving advantage grounds, its absolute social advantages must be found to surpass its all out social expenses. Though money saving advantage investigation is typically directed for the particular task, the extent of this examination can without much of a stretch be reached out to more extensive cutoff points, for example, the evaluation of the strategies that have been intended to help in the battling of environmental change (OECD, 2007).

Existentialism in the Stranger and the Metamorphosis Essay

â€Å"We are tossed into reality first without a foreordained nature and just later do we build our tendency or embodiment through our activities. †(Existentialism)This quote is available through the primary characters of The Stranger, Blade Runner, and The Metamorphosis in every one of these works the characters make their own temperament. These works are comparative a few different ways; in each of the three the men make their own tendency by the free decisions they make. Through these decisions they likewise make their own qualities. The characters esteems and implications of life are the place these works vary. At first, in The Metamorphosis, Gregor’s life appears to have importance, through accommodating his family, until he changes into a bug and decides for himself that his life truly has no significance. This is not normal for The Stranger in light of the fact that Meursault, all through the whole work, carries on with his life as though there is no importance to life and he passes on knowing this. At long last Deckard, toward a mind-blowing start, appears to have carried on with his existence with no importance or qualities, until he experiences Roy and Rachael who change his point of view. All through these works these men settle on settles on decisions that figure out what their identity is and what their about, at the end of the day all of them knows their ensuing mortality. It is unmistakably comprehended through Meursault’s portrayal that life to him is useless. The decisions he makes and things he says are without thought or significance. They are for the most part in the impromptu of what will satisfy him. For instance the novel beginnings by Meursault telling the crowd â€Å"Maman passed on today. Or on the other hand yesterday perhaps, I don’t know. I got a message from the home: â€Å"Mother perished. Burial service tomorrow. Reliably yours. † That doesn’t mean anything. Perhaps it was yesterday†(The Stranger). Meursault treats his mother’s passing with a similar aura with which he will later treat the demise of the Arab. Both of these occasions are typically extraordinary in the sorts of feelings they uncover, yet Meursault shows no feeling by any means. He just experiences the everyday movements of life. Through his portrayal and the tone of the novel the peruser is obviously ready to decide Meursault lives with no feeling or substance. He acknowledges what his identity is and his mortality. At long last he acknowledges a discipline that isn't deserving of the wrongdoing. He knows regardless of whether he doesn’t get executed he will bite the dust in any case whether its quite a while from now or fifty. Obviously The Stranger inquiries the peruser whether people truly have an importance for life since at long last everybody will kick the bucket and it slipped be's mind. It appears that Camus intended to get the point over that in life there is no foreordained nature individuals make it through their decisions. Meursault decides to carry on with his existence with practically no significance. Not at all like Marie who experiences passionate feelings for Meursault and decides to help him despite the fact that he didn’t care in the event that they got hitched. Like Marie in The Stranger Gregor, who is the principle character, in The Metamorphosis has a mean and incentive to his life. Gregor underpins his family since his dad fizzled and never returned to work. Gregor had everything great job, cash, and capacity. He decided to help his family and permit them to carry on with a decent life while he worked and went with brief period for himself. Gregor doesn’t like his activity, yet he decides to remain in light of the fact that it offers great cash and he will pay of obligation. These decisions are Gregor’s they are what he based his life off of. At the point when he changes into a bug his attitude is modified. He starts to understand that all that he accomplished for his family in the long run is overlooked and soon he is disregarded as well. Kafka relates this to mankind and its inescapable end. At the point when people bite the dust to start with they are recalled, yet gradually individuals overlook, or lose enthusiasm, until in the long run that individual is completely disregarded and life goes on. This past proclamation is obviously found in the novel when the family moves and concludes that is a great opportunity to offer their little girl. They notice nothing about the loss of their child. In Blade Runner the fundamental character Deckard obliterates replicants. He carries out his responsibility and as a rule never questions the reasons why he decimates the human-like robots. The executive appears to attempt to get over the point early that Deckard carries on with an aimless life. He does anything he desires at whatever point he needs. From the outset it appears as though he carries on with a real existence much like Meursault, yet later it turns out to be certain that he is attempting to locate a significance forever. When conversing with Roy, Deckard understands that in life everybody is going to bite the dust and that everything that individual did would be overlooked and lost. Simultaneously Roy clarifies the estimation of life, the decisions, love, and things people can understanding. Sharp edge Runner attempts to get across to the watcher that they are who they need to be and that at long last the decisions and things they’ve seen will be overlooked and aimless. In every one of the three works the trademark â€Å"Existence goes before Essence† (Existentialism) is available. Every last one of the fundamental characters settles on their decisions which decide their temperament. All of the characters sooner or later understands that they all offer a typical quality with the remainder of humankind and that is demise. They likewise realize that at long last they will be disregarded and in the long run everybody will proceed onward with their lives as though they never existed. These works vary in the manner each character approaches their lives. Meursault accepts there is no significance to life so he carries on with his life on the fly. He does whatever satisfies him. Gregor starts with an actual existence he has decided for himself just to understand that in the end all that he has done will be overlooked and lost. At last Deckard starts with no significance and attempts to decide an importance through replicants. He understands that the decisions throughout his life are what makes his life important. All through these works Existentialism was available. The characters offered a brief look at the explanation behind presence. Regardless of whether it was for accommodating a family or slaughtering replicants every single one of the character at long last discovered that life was just the decisions that they make. Eventually they all discovered that all that they did and decided to do was negligible when they were dead and it is extremely unlikely to stay away from it.

Banks have changed and evolved - Free Essay Example

The growth of the banking sector since its creation in the 1600à ¢Ã¢â€š ¬Ã¢â€ž ¢s has allowed for banks to change and evolve into being more than just a business. Critically discuss how, through the ages, banks have changed and evolved. Make reference in your answer to how regulation, financial crisis and societies needs have aided this banking evolution. B. 1. What is a bank? There is no comprehensive legal definition of the term à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢. So to define these concepts, people has to look at the particular circumstances in which the precise meaning of them arises. The most common circumstances are: the area of bank regulation; where rights and duties are granted to banks; and where there is an effort to eschew a payment obligation that it arose on an illegal contract, which is void or unenforceable because it is owed by or to an unlicensed bank.[1] There are two reasons why the common law definition of these concepts remains important. The first one is under law, certain rights and duties are only conferred on a à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢, e.g. the bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢s duty of confidentiality. The second one is some rules use the term à ¢Ã¢â€š ¬Ã‹Å"bank à ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢ without an accurate definition. We can see it clearer in the case of Kirkwood:[2] Kirkwoodà ¢Ã¢â€š ¬Ã¢â€ž ¢s defence was that UDT could not recover on a debt because they were neither an unregistered moneylender nor a bank and the loan was illegal as it infringed the provisions of the Moneylenders Act 1990. Lord Denninghas stated that: à ¢Ã¢â€š ¬Ã‹Å"Parliament has conferred many privileges on banks and bankers, but it has never defined what is a bank and who is a banker. It has said many times that a banker is a person who carries on the business of banking, but it has never told us what the business of banking is. It has imposed penalties on persons who describe themselves as a bank or bankers when they are not, but it has never told us how to decide whether or not they are bankers.à ¢Ã¢â€š ¬Ã¢â€ž ¢[3] To determine if a person is a banker or not, the Court specified thre e elements: the nature of the banking services provided; the fame of the organization; the importance of these services in relation to business as a whole.[4] The characteristics of banking was: accepting money and collecting cheques for their customers and place them to the credit of the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ accounts; honouring cheques or orders drawn on bankers by their customers when presented for payment and debiting their customers accordingly; keeping current accounts, or something of that nature, in which debits and credits were entered.[5] Hsiao enounced that a bank must have only two distinctive elements, namely deposit taking and cheque collection.[6] However he then rejected the possibility of this definition in answering the question: à ¢Ã¢â€š ¬Ã‹Å"what is a bank?à ¢Ã¢â€š ¬Ã¢â€ž ¢ Because banks are classified in different ways, some institutions will fall into the banking category despite not having two elements stated in the Kirkwood case.[7] The answer f or this problem can be found in some statutes. According to the European Union, a bank can be understood as à ¢Ã¢â€š ¬Ã‹Å"an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits for its own accountà ¢Ã¢â€š ¬Ã¢â€ž ¢.[8] The Banking Act 2009 defines that à ¢Ã¢â€š ¬Ã‹Å"bank means a UK institution which has permission under of the Financial the regulated activity of accepting deposits.à ¢Ã¢â€š ¬Ã¢â€ž ¢[9] Pursuant to The Bills of Exchange Act 1882, a à ¢Ã¢â€š ¬Ã‹Å"banker includes a body of persons whether incorporated or not who carry on the business of bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢[10] 2. The invention of banking in United Kingdom Galbraith argues the ambiguous beginnings of the bankers. He claims that banks are à ¢Ã¢â€š ¬Ã‹Å"an exceedingly old idea. Banking has a substantial existence in Roman times So far as any business can be given ethnic association, banking belongs to the Italians.à ¢Ã¢â€š ¬Ã¢â€ž ¢[11] In United Kingdom, the banking system extensively developed without the interference by government. It started due to the renting-vault of the goldsmithà ¢Ã¢â€š ¬Ã¢â€ž ¢s banker.[12] They had been recognized as reliable keepers of money for people without their own safe vault. At this beginning time, the goldsmith banks were only for wealthy people.[13] In 1640, Charles I seized the gold of the Royal Mint. This action made the trust and belief in goldsmith banks grew up so fast, although later Charles I repaid all the money. In 1660, the bank notes were first introduced as the goldsmith drawn notes, by which a depositor sent his goldsmith a letter to authorize the acquittance to his creditor of the sum owed. The creditor would take this note to the depositors goldsmith and received the payment in cash. They have been compared with modern day cheuqes. This function promoted bank lending and goldsmiths could perform both position of borrowers and depositors. In 1664, Charles II bo rrowed  £1,300,000 from the goldsmiths to build a sailing armada. But later he failed to repay this debt and the Exchequer suspended the repayment. This juncture raised an anxiety about the lender policies of the goldsmiths. This industry was becoming a risk business, so goldsmiths decided to have à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢ separately developed from their usual business. They called themselves à ¢Ã¢â€š ¬Ã‹Å"bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ but indeed they were still goldsmiths. Goldsmith bankers had created an infallible system of private banking, which were developed into the famous banking firms, some of them still exist today. Orsinger wrote that à ¢Ã¢â€š ¬Ã‹Å"in 1801 one could count sixty-eight private banks which were their direct descendantsà ¢Ã¢â€š ¬Ã¢â€ž ¢.[14] C. The banking evolution through ages in UK 1. In 17th Century An important step towards the modern banking was the founding of The Bank of England by the enactment of The Bank of England Act 1694. Its original purpose was to raise money for the war with France, along with another intention was to à ¢Ã¢â€š ¬Ã‹Å"act as the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s banker and debt-managerà ¢Ã¢â€š ¬Ã¢â€ž ¢. The original capital of the bank was  £1,200,000. It provided a same amount loan to the Government with the interest was about  £100,000 per year. The Government did not repay the loan until 1706, but in exchange the bank was awarded a Royal Charter. It exactly did the same kind of business goldsmiths were doing already: printing their own notes and lending money of their own creation. Parliament brought out an act to regulate financial activity in the United Kingdom occurred on 1697 that gave heavy penalties, both financial and physical to those worked within the à ¢Ã¢â€š ¬Ã‹Å"City of Londonà ¢Ã¢â€š ¬Ã¢â€ž ¢ without a license annually by the Court of Alderman.[15] This regulation only had effect until the early eighteenth century.[16] According to Gilligan, th e 1697 Act was à ¢Ã¢â€š ¬Ã‹Å"a crucial legislative initiative because it was the first attempt by any government to impose certain standards of probity and competence upon those dealing in the embryonic securities marketà ¢Ã¢â€š ¬Ã¢â€ž ¢.[17] The creation of the Bank of England prescribed an entirely new backbone and regulatory mechanism to the modern banking sector. Even though, it was a long and hard process, the Government still tried to bring banking to the majority of society. They also started to manage a transparent financial market as well. 2. In 18th Century Banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ services kept increasing: such as clearing facilities, security investments and over draft protections. Due to the appropriateness of depositing their surplus balances, the Bank of England changed it owner and became the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s bank. A new Charter of Parliament in 1708, which clause prohibited note issue to any banks with more than six partners, did not trammel i ndividual goldsmiths bankers. But detained the establishment of joint-stock banking in England until the following century. It was recognized as a solution to keep private bank as small partnerships. The Industrial Revolution further helped to enlarge the number of banks in United Kingdom, especially within London. Moreover, it changed the idea that the banks were not only for the upper classes but also for ordinary people.[18] In a parallel development, there was a separate system of banking was evolving in the provinces. Since the transport and communications in Midland and Northern regions did not exist, the London goldsmiths bankers had failed to develop their system outside London. The Industrial Revolution created a need for financial service, especially at growing industrial and port cities such asBirmingham,Liverpool Manchester,and Newcastle. These countryside bankers were local industrialists and traders, who already had experiences in monetary transaction. There were some similar between à ¢Ã¢â€š ¬Ã‹Å"industrialist bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ and the early goldsmith bankers. By 1784, there were 119 provincial banks outside London. The Industrial Revolution had done a lot of things. Firstly, it broadened the popular of banks in industrial society but they were still not an approachable facility for everyone. They absolutely focused on the upper class and merchant. Just because the bankers still think about the à ¢Ã¢â€š ¬Ã‹Å"making-moneyà ¢Ã¢â€š ¬Ã¢â€ž ¢ purpose more than their responsibility towards society as a whole. Secondly, with the enlargement the scope of enterprise, it was necessary for banks with more than six partners, so that larger resources could be gathered. The Charter in 1708 should be abolished. 3. In 19th Century The banking sector in United Kingdom started to transform. The banking industry and legislators finally understood that ordinary people also had the need to use the banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ facilities.[19] In 1810, The Rothwell Savings Bank, the first saving bank initiated by Henry Duncan, was created. It was the pioneer in encouraging the poor to save and later France as well as Holland also applied this banking model due to its success in Britain.[20] In the 18th century, it was illegal to form a bank with more than six partners. But a Newcastle timber merchant, Thomas Joplin disagreed with that regulatory. Joplin believed that the increasing in number of financial undertakingsà ¢Ã¢â€š ¬Ã¢â€ž ¢ partners would gather greater resources and reduce risks. That opinion was rejected by Parliament. Fortunately, a banking crisis in 1825, which led to new Act in 1826,[21] made Joplinà ¢Ã¢â€š ¬Ã¢â€ž ¢s opinion came true. The new Act permitted à ¢Ã¢â€š ¬Ã‹Å"the establishment of co-partnerships with any number of shareholders and right of note issue outside a radius of sixty-five miles from the City of Londonà ¢Ã¢â€š ¬Ã¢â€ž ¢.[22] The first joint-stock bank was Lancaster Banking Company in 1826. With the advantage in large amounts of capital, the joint-stock banks began to absorb the private banks, making larger businesses. They then developed more branches, a huge system which attempted to bring a more stable structure that suited to the needs of the Industrial Revolution. In this period, the banks completely adopted the idea appeared during the Industrial Revolution, that the ordinary people could use banks as well as wealthy people.[23] It attracted a lot of people who had already owned accounts and who had just used these financial services for the first time. The development of branches had their own benefits, but also showed the limit in poor communications and lack of skilled men. Robert Paul described about this problem: à ¢Ã¢â€š ¬Ã‹Å"that branches were accompanied with so much hazard, required such constant watching and inspection, and involved us altogether in such a degree of superintendence that, upon the whole, my general impression is that the branch es are not the most advantageous part of our business.à ¢Ã¢â€š ¬Ã¢â€ž ¢ 4. In Modern Era The banking system during this time was affected by two World Wars. A group of bank in control of government performed a series of takeovers and mergers. They were called à ¢Ã¢â€š ¬Ã‹Å"Big Fiveà ¢Ã¢â€š ¬Ã¢â€ž ¢, including these well-known banks: Barclay, Lloyds, Midland, National Provincial, and Westminster. Along with it was the global financial crisis of 1929-1932, many banks experienced serious difficulties at that time. To deal with it, they used the strategy to accost less wealthy customers and introduce small saving packages. It was not until 1950 for a recovery which showed a large extend in provincial branch offices and the appearance of the high street banks. From the 17th century to this century, there wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t any direct legislation applied to the financial services industry until 1939.[24] The Prevention of Fraud (Investment) Act 1939 was the first major pi ece of legislation that had object to protect the right of investors. Unlicensed dealing was treated as a criminal offence. The 1939 Act was altered by the Prevention of Fraud (Investment) Amendment Act 1958, which provided the Board of Trade the competence to appoint surveyors to investigate the administration of unit trusts.[25] Gillian complimented that these two legislations à ¢Ã¢â€š ¬Ã‹Å"were notable for the improvements they brought in licensing standardsà ¢Ã¢â€š ¬Ã¢â€ž ¢.[26] But according to Fisher and Bewey, these two were only regulated a small part of investment business and their practical were limited.[27] In the wake of the secondary banking crisis of 1973-1975, the Parliament of the United Kingdom promulgated the Banking Act 1979. The Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s regulatory powers over banks was extended and their depositors were provided better protections. However, this 1979 Act did not have enough deterrence to stop the influence of the secondary banking crisis. The omission of banking regulation under the 1979 Act was clearly showed in the bankruptcy of Johnson Matthey Bank. The Bank of England took over the running of JMB and supplied it a financial rescue package of  £245m. Ellinger enounced that à ¢Ã¢â€š ¬Ã‹Å"if JMB had been subjected to the more stringent supervision applies to licensed deposit-takers; its financial difficulties would have been discovered earlierà ¢Ã¢â€š ¬Ã‚ ¦ following the JMB affair, the question of bank supervision was reviewed by a Committee set up by the Chancellor 1984 and chaired by the governor of the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢.[28] Between 1974 and 1976, the Labour Government conducted complete statutory overhaul of the Prevention of Fraud (Investments) Acts and led to the Financial Services Act 1986. In 1981 with the need for a new system of financial regulation, this reform process started and Professor Gower was appointed to undertake a detailed review of the legislative protecti on. On his report in 1983, Professor Gower propounded that a new Investor Protection Act should be enacted to replace the Prevention of Fraud (Investment) Acts, based upon self-regulation, subject to government surveillance.[29] In October 1984, the government endorsed a majority of the recommendations made by Professor Gower and published a White Paper.[30] The 1986 Act came into effect on 29 April 1988. It had wider scope than the Prevention of Fraud (Investments) Acts.[31] However, the 1986 Act did not regulate all aspect of the financial services sector, such as banking sector.[32] Along with it, the bankruptcy of JMB gave rise to the promulgation of the Banking Act 1987. It mostly abolished and substituted the 1979 Act. The 1987 Act had aim to provide a strict supervision in banking activities and to protect depositorà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest. But it did not manage the bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ transactions, consumer protection or technological advancements. Arora enounced that the Banking Act 1987 à ¢Ã¢â€š ¬Ã‹Å"considerable reinforced the powers of the Bank of England to advise, supervise and control the banking sector.à ¢Ã¢â€š ¬Ã¢â€ž ¢[33] The Banking Act 1998 transferred the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s powers and responsibilities for the supervision of the banking sector and wholesale money market institutions to the Financial Services Authority (FSA), which was previous held by the 1987 Act.[34] Taylor took an opinion that à ¢Ã¢â€š ¬Ã‹Å"the Bank of England Act 1998 amounts to one of the most significant changes to the Bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s governance, role and functions in its 300-year history. It is certainly the most significant legislative change to affect the Bank since nationalization in 1946à ¢Ã¢â€š ¬Ã¢â€ž ¢.[35] In 1997, the Government changed from Conservative to Labour and led to the introduction of many new financial regulations. The first one was the Financial Services and Markets Act (FSMA) 2000. It provided an adeq uate statutory framework for the FSA replacing the different frameworks under which the various regulators would operate.[36] The main function of the Act was à ¢Ã¢â€š ¬Ã‹Å"to create a unified system of statutory regulation to preside over the financial services marketà ¢Ã¢â€š ¬Ã¢â€ž ¢,[37] in which the regulation of mortgages and general insurance business is also covered. But the enactment of FSMA was not effective enough to stop the bankruptcy of Northern Rock[38] and the financial crisis in 2007. All of this event revealed the uncertainty of the UK banking sector and the disadvantages in financial regulation. The Bank of England had to offer a loan to Northern Rock. Lord Lawson criticized that à ¢Ã¢â€š ¬Ã‹Å"maintaining Northern Rock is simply exposing the taxpayer to risk, raising issues of unfair competition and continuing a bad reputation for the UK in this field.à ¢Ã¢â€š ¬Ã¢â€ž ¢[39] Because the old Banking Acts couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t stop the crisis, the Parliament has issued the new Banking Act 2009. It regulates new aspects: the special resolution regime; the bank administration procedure; the new bank insolvency procedure; inter-bank payments systems; financial services compensation scheme; and to strengthen the role of the Bank of England. The Economist declaimed that the Act à ¢Ã¢â€š ¬Ã‹Å"shows a change in philosophy by the Government and regulators alike.à ¢Ã¢â€š ¬Ã¢â€ž ¢[40] Its purpose is to give the bank time to react internally before the media and the customers become aware of the bank troubles. The 2009 Act is just a solution to a single situation but not a cure for future problems. The Financial Services Act 2010 increases FSA statutory power in different aspects, including: consumer awareness, recovery plans for banks and remuneration policies. What the Act aims to do is to give the bank time to react internally before the media and the customers become aware of the bank troubles. This clause causes controversy. Peter Thal-Larsen propounded that the Act will basically allow financial authorities to take early action to move savers deposits from a failing bank before tackling other problems without causing widespread panic. The idea is that, if there is a bank that gets into trouble, to insulate it and make the wider impact of that less, but I dont think they can actually stop banks from getting into trouble in the future.[41] There is still a dichotomy here. The FSA and the respective financial legislation is meant to be transparent and customer focusing. By withholding information so that the banks can act quickly without bank runs, you are not allowing customers to chose what to do with theirown savings, in a timely fashion. This cloak of secrecy goes against the FSA ethos. Conversely, by withholding this information and throwing the cloak of secrecy around the banks shoulders you may be able to inhibit the panic that we saw in the Northern Rock case. Another point of view that could be entertained here is that with consumer confidence at an all time low, having a clause like this only heightens the mistrust of the banks. Consumers may feel even more isolated and excluded from being the master over their own monetary destiny. See lecture 12 on financial exclusion. [1] Ross Cranston, Principles of Banking Law (2002), 2nd edition, 5 [2] Case United Dominions Trust Ltd v Kirkwood [1966] 2 QB 431, Court of Appeal [3] ibid [4] ibid [5] ibid [6] Michael Hsiao, à ¢Ã¢â€š ¬Ã‹Å"Legitimised interference with private properties: Banking Act 2009à ¢Ã¢â€š ¬Ã¢â€ž ¢ (2010), 25(5) Journal of International Banking Law and Regulation, 227 [7] Ibid, 230 [8] EU Banking Directive 2006/48/EC, Article 4 [9] Banking Act 2009, section 2 [10] Bills of Exchange Act 1882, section 2 [11] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited, 18. [12] Glyn Davies, A history of money From ancient times to the present day (1994) Cardiff, University of Wales. [13] ibid [14] Richard Orsinger, Banks of the world (1967), London, Macmillian Co Ltd, 40 [15] Jonathan Fisher and Jane Bewsey, The Law of Investor Protection (1997), London, 13 [16] Ibid [17] George Gillian, à ¢Ã¢â€š ¬Ã‹Å "The origins of UK financial services regulationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (1997), 18(6) Company Lawyer 167, 171 [18] Dr Clare Chambers, Financial Education and Banking Regulation in the United Kingdom: A template Analysis (2004), Bournemouth University [19] Glyn Davies, A history of money From ancient times to the present day (1994) Cardiff, University of Wales. [20] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited [21] ibid [22] Ronald Myles Fitzmaurice, British Banks and Banking (1975), D Bradford Barton Ltd [23] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited [24] Nicholas Ryder, Margaret Griffiths and Lachmi Singh, Commercial Law principles and policy (2012), Cambridge University Press, 408. [25] ibid [26] George Gillian, à ¢Ã¢â€š ¬Ã‹Å"The origins of UK financial services regulationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (1997), 18(6) Company Lawyer 167, 176 [27] Jonathan Fishe r and Jane Bewsey, The Law of Investor Protection (1997), London, 13 [28] Peter Ellinger, Eva Lomnicka and Richard Hooley, Ellingerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Modern Banking Law(2006), Oxford, 33 [29] Review of Investor Protection, Cmnd.9125 (1984) [30] Financial Services in the UK: A New Framework for Investor Protection, Cmnd.9432 [31] Jonathan Fisher and Jane Bewsey, The Law of Investor Protection (1997), London, 16 [32] Nicholas Ryder, Margaret Griffiths and Lachmi Singh, Commercial Law principles and policy (2012), Cambridge University Press, 410 [33] Anu Arora, The Banking Act 1987: Part 1, The Company Lawyer (1998), 9(1) 10 [34] Bank of England Act 1998, s. 21. The Act transferred to the FSA the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s supervision powers under the Banking Act 1987, the Banking Coordination (Second Council Directive) Regulations, s.101(4) of the Building Societies Act 1985, s.43 of the Financial Services Act 1986 and the Investment Services Regulations 1995. [35] Michael Blair, Ross Cranston, Chris Ryan and Michael Taylor,Blackstoneà ¢Ã¢â€š ¬Ã¢â€ž ¢s guide to the Bank of England Act 1998 (1998, London), 17. [36] FSA (2000). Legal Framework. London: FSA. [37] Professor Lorne Crerar,The Law of Banking in Scotland (2007), Tottel Publishing Ltd, Edinburgh,50 [38] The Economist. Greed Mash; and Fear. 22 January 2009. [39] David HenckeandNicholas Watt, Audit office launches inquiry into rescue,The Guardian, 21-2-08, 26. [40] The Economist, Barbarians at the vault, 15th May 2008. [41] BBC News. Banking Act comes into Affect. 21 February 2009. https://news.bbc.co.uk/1/hi/business/7902350.stm.

The Volkswagen Scandal Referred To As ‘Hoaxwagen’ - 550 Words

The Volkswagen Scandal Referred To As ‘Hoaxwagen’ (Essay Sample) Content: NameTutorCourseDateThe Hoaxwagen The Volkswagen scandal referred to as Hoaxwagen emerged in September 2015 when the U.S. Environmental Protection Agency (E.P.A) detected, in a test on the car manufacturers purported green cars, that the cars were environmentally unfriendly. The company's so-called Clean Diesel models sold in the U.S. over a 7-year period (2008-2015) had a pre-installed software device with the ability to detect when being tested, and to change the car's emission performance accordingly (Smith and Parloff 1). It was designed to beat indoor emission testing for harmful emissions by relevant authorities such as EPA. The fact that the management of Volkswagen knew about the defeat device for seven years, the size of the car market share controlled by Volkswagen, the financial implications of the revelation and the long-term effect that the scandal will have on the firm presents Hoaxwagen as a mega-scandal in the car industry. On an actual road, the car e mitted over 40 times the permissible levels of the dangerous nitrogen oxides. Volkswagen has admitted to cheating, with over 500,000 cars sold in the U.S. and about 10.5 million cars sold worldwide, having the 'defeat device' installed in them (Smith and Parloff 1). The EPA discovery was followed by resignation by the CEO, suspension of some engineers, and apologies from top executives. The U.S. Department of Justice, state attorneys, the E.P.A, prosecutors in many affected countries, individual owners and many interested parties, have filed lawsuits against VW, worth billions of dollars (Smith and Parloff 1). The installation of the defeat device was motivated by the desire to increase Volkswagen's sales in the U.S. The U.S. is an expansive market but whose consumers, particularly the diesel engine consumers, are highly environmentally conscious. A huge marketing campaign and emphasis on low emissions by its cars were sure to capture the American market and increase sales, both in the short and long run (Hotten 1). The scandal was primarily financially motivated. Furthermore, Volkswagen, Smith and Parloff (1) observe, is run like an empire. Its management, particularly under former CEO Ferdinand Piech maintained a ruthless, overweening culture where decision-making was in the hands of a few. Moreover, the firms power and influence have resulted in a culture of impunity, particularly in Europe. The firm could lobby the German leadership for help in cases where other European countries had imposed harsh, low-emission rules. Micromanagement, fueled by arrogance and ambition, implied success at all costs, including violating set rules and regulations (Smith and Parloff 1). Amid family power plays, ethical considerations were overlooked hence resulting in the scandal. The scandal has short and long term impact on the giant car firm. In the short term, there has already been a change in management at the firm, with resignations, suspensions and apologies comin g forth. Consumer confidence in Volkswagen brands has dwindled. The firm had the audacity and arrogance to run a commercial during the U.S. Super Bowl, illustrating their cars as extremely clean. The firm is already recalling millions of cars worldwide this year to fix the software. It has set aside over $7.3 billion to cover costs (Smith and Parloff 1). This will definitely result in financial loss. Consumers can no longer trust car manufacturers' assurances on emission level...

Bulgars, Bulgaria and Bulgarians

The Bulgars were the early people of eastern Europe. The word bulgar derives from an Old Turkic term denoting a mixed background, so some historians think they may have been a Turkic group from central Asia, made up of members of several tribes. Along with the Slavs and the Thracians, the Bulgars were one of the three primary ethnic ancestors of present-day Bulgarians.   The Early Bulgars The Bulgars were noted warriors, and they developed a reputation as fearsome horsemen. It has been theorized that beginning in about 370,  they moved west of the Volga River along with the Huns. In the mid-400s, the Huns  were led by Attila, and the Bulgars apparently joined him in his westward invasions. After Attilas death, the Huns settled in the territory north and east of the Sea of Azov, and once again the Bulgars went with them.   A few decades later, the Byzantines hired the Bulgars to fight against the Ostrogoths. This contact with the ancient, affluent empire gave the warriors a taste for wealth and prosperity, so in the 6th century, they began to attack the nearby provinces of the empire along the Danube in hopes of taking some of that wealth. But in the 560s, the Bulgars themselves came under attack by the Avars. After one tribe of Bulgars was destroyed, the rest of them survived by submitting to yet another tribe from Asia, who departed after about 20 years. In the early 7th century, a ruler is known as Kurt (or Kubrat) unified the Bulgars and built a powerful nation that the Byzantines referred to as Great Bulgaria. Upon his death in 642, Kurts five sons split the Bulgar people into five hordes. One remained on the coast of the Sea of Azov and was assimilated into the empire of the Khazars. A second migrated to central Europe, where it merged with the Avars. And a third disappeared in Italy, where they fought for the Lombards. The last two Bulgar hordes would have better fortune in preserving their Bulgar identities. The Volga Bulgars The group led by Kurt’s son Kotrag migrated far to the north and eventually settled around the point where the Volga and the Kama rivers met. There they split into three groups, each group probably joining with peoples who had already established their homes there or with other newcomers. For the next six centuries or so, the Volga Bulgars flourished as a confederation of semi-nomadic peoples. Although they found no actual political state, they did establish two cities: Bulgar and Suvar. These places benefited as key shipping points in the fur trade between the Russians and Ugrians in the north and the civilizations of the south, which included Turkistan, the Muslim caliphate at Baghdad, and the Eastern Roman Empire. In 922, the Volga Bulgars converted to Islam, and in 1237 they were overtaken by the Golden Horde of the Mongols. The city of Bulgar continue to thrive, but the Volga Bulgars themselves were eventually assimilated into neighboring cultures. The First Bulgarian Empire The fifth heir to Kurts Bulgar nation, his son Asparukh, led his followers west across the Dniester River and then south across the Danube. It was on the plain between the Danube River and the Balkan Mountains that they established a nation that would evolve into what is now known as the First Bulgarian Empire. This is the political entity from which the modern state of Bulgaria would derive its name. Initially under the control of the Eastern Roman Empire, the Bulgars were able to found their own empire in 681, when they were officially recognized by the Byzantines. When in 705 Asparukh’s successor, Tervel, helped restore Justinian II to the Byzantine imperial throne, he was rewarded with the title Caesar. A decade later Tervel successfully led a Bulgarian army to assist Emperor Leo III in defending Constantinople against invading Arabs. At about this time, the Bulgars saw an influx of Slavs and Vlachs into their society. After their victory at Constantinople, the Bulgars continued their conquests, expanding their territory under the khans Krum (r. 803 to 814) and Pressian (r. 836 to 852) into Serbia and Macedonia. Most of this new territory was heavily influenced by the Byzantine brand of Christianity. Thus, it was no surprise when in 870, under the reign of Boris I, the Bulgars converted to Orthodox Christianity. The liturgy of their church was in Old Bulgarian, which combined Bulgar linguistic elements with Slavic ones. This has been credited with helping to create a bond between the two ethnic groups; and its true that by the early 11th century, the two groups had fused into a Slavic-speaking people who were, basically, identical to the Bulgarians of today. It was during the reign of Simeon I, the son of Boris I, that the First Bulgarian Empire achieved its zenith as a Balkan nation. Although Simeon evidently lost the lands north of the Danube to invaders from the east, he expanded Bulgarian power over Serbia, southern Macedonia and southern Albania through a series of conflicts with the Byzantine Empire. Simeon, who took for himself the title Tsar of All the Bulgarians, also promoted learning and managed to create a cultural center at his capital of Preslav (present-day Veliki Preslav). Unfortunately, after Simeons death in 937, internal divisions weakened the First Bulgarian Empire. Invasions by Magyars, Pechenegs, and Rus, and reignited conflict with the Byzantines, put an end to the sovereignty of the state, and in 1018 it became incorporated into the Eastern Roman Empire. The Second Bulgarian Empire In the 12th century, stress from external conflicts reduced the Byzantine Empires hold on Bulgaria, and in 1185 a revolt took place, led by the brothers Asen and Peter. Their success allowed them to establish a new empire, once again led by Tsars, and for the next century, the house of Asen reigned from the Danube to the Aegean and from the Adriatic to the Black Sea. In 1202 Tsar Kaloian (or Kaloyan) negotiated a peace with the Byzantines that gave Bulgaria complete independence from the Eastern Roman Empire. In 1204, Kaloian recognized the authority of the pope and thus stabilized the western border of Bulgaria. The second empire saw increased trade, peace, and prosperity. A new golden age of Bulgaria flourished around the cultural center of Turnovo (present-day Veliko Turnovo). The earliest Bulgarian coinage dates to this period, and it was around this time that the head of the Bulgarian church attained the title of patriarch. But politically, the new empire wasnt particularly strong. As its internal cohesiveness eroded, external forces began to take advantage of its weakness. The Magyars resumed their advances, the Byzantines took back portions of Bulgarian land, and in 1241, Tatars began raids that continued for 60 years. Battles for the throne among various noble factions lasted from 1257 to 1277, at which point peasants revolted due to the heavy taxes their warring overlords had imposed on them. As a result of this uprising, a swineherd by the name of Ivaylo took the throne; he wasnt ousted until the Byzantines lent a hand.   Only a few years later, the Asen dynasty died out, and the Terter and Shishman dynasties that followed saw little success in maintaining any real authority. In 1330, the Bulgarian Empire reached its lowest point when Serbs slew Tsar Mikhail Shishman at the Battle of Velbuzhd (present-day Kyustendil). The Serbian Empire took control of Bulgarias Macedonian holdings, and the once-formidable Bulgarian empire began its last decline. It was on the verge of breaking apart into lesser territories when the Ottoman Turks invaded. Bulgaria and the Ottoman Empire The Ottoman Turks, who had been mercenaries for the Byzantine Empire in the 1340s, began attacking the Balkans for themselves in the 1350s. A series of invasions prompted the Bulgarian Tsar Ivan Shishman to declare himself a vassal of Sultan Murad I in 1371; yet still, the invasions continued. Sofia was captured in 1382, Shumen was taken in 1388, and by 1396 there was nothing left of Bulgarian authority.   For the next 500 years, Bulgaria would be ruled by the Ottoman Empire in what is generally viewed as a dark time of suffering and oppression. The Bulgarian Church, as well as the empires political rule, was destroyed. The nobility either was killed, fled the country, or accepted Islam and was assimilated into Turkish society. The peasantry now had Turkish lords. Every now and then, male children were taken from their families, converted to Islam and raised to serve as Janissaries. While the Ottoman Empire was at its height of power, the Bulgarians under its yoke could live in relative peace and security, if not freedom or self-determination. But when the empire began to decline, its central authority could not control local officials, who were sometimes corrupt and at times even downright vicious.   Throughout this half a millennium, Bulgarians held stubbornly to their Orthodox Christian beliefs, and their Slavic language and their unique liturgy kept them from becoming absorbed into the Greek Orthodox Church. The Bulgarian peoples thus retained their identity, and when the Ottoman Empire began to crumble in the late 19th century, the Bulgarians were able to establish an autonomous territory.   Bulgaria was declared an independent kingdom, or tsardom, in 1908.

Does the amount of time on social media hinder or help an individuals grades at school - Free Essay Example

Sample details Pages: 2 Words: 586 Downloads: 5 Date added: 2019/04/10 Category Society Essay Level High school Tags: Social Media Essay Did you like this example? Social media usage by students has recently increased because of easy access to devices such as smart phones, tablets and laptops which are connected to the internet. It is perceived that school grades will suffer when spending too much time on social sites such as Facebook. Social media is an online platform in which the exchange ideas, feelings, personal information, pictures and videos is shared. Don’t waste time! Our writers will create an original "Does the amount of time on social media hinder or help an individuals grades at school" essay for you Create order The number of students that use social media is drastically increasing it has gone to seventy-three percent of wired American teens now use social media websites (Dijck). Social networking became popular between 2004 and 2006, after Facebook and Myspace were created. Facebook, for example has over 500 million members and it is still growing and approximately 85% of undergraduate students are Facebook users. These numbers are expected to grow since Facebook users will continue to grow (Dijck). Just like that an overwhelming number of students are using social media and this new trend does not seem to be slowing down any time soon. This relates to sociology because in the upcoming years social media and the usage of phones has drastically increased and social media is another potential distraction to a student. With the popularity of social networking websites on the rise, our social interaction is affected in multiple ways as we adapt to our increasingly technological world. The way web users interact and talk to each other has changed and still is changing continuously. But what makes social media different from any other distractions that kept students away from their academic potential? It is the fact that people just pick up the phone and start scrolling through Instagram without even noticing. Since most people always have their phones on them, it is very convenient. Social media comes with both good and bad when it comes to how it influences a persons education. Some ways social media benefits an individual is by making it easier to collaborate with other students, it can help receive instantaneous feedback and even foster creativity. The internet has changed the way teenagers speak and write the English language by making misspelling and shorten words, people tends to type faster on the Internet and this generates a unique behavior that ignores proper language. On top of that many student type/texts more than they write so this trait may even be carried on to school. With all this good, comes its negative as well. Social media now directly influences how people communicate with one another, although it is now easier to communicate with someone far away, social media has shown to decrease face to face interactions (Staff writers). Also, not as many people use social media for academic use. In a study conducted by Shana, (2012), it was revealed that students use social network mainly for making friends and chatting. The result showed that only 26 percent of the students (respondents) indicated that they use social media for academic purpose. To carry out this experiment I would be send out as an anonymous survey asking about how much time a person spends on social media a week and then ask what their current gpa is. The paper will also ask them to identify their gender. This survey can be asked to not only college students but high school students as well. Not only will the data be separated by age but also by gender to see if that has any influence as well. The location in which this survey will take place is New York City, since this is a very diverse city.

Google Total Compensation Plan - 1885 Words

Human Resource Management Google total compensation plan November 04, 2009 Introduction Google is a monopoly, and it has a different and special structure. Employees are linked between themselves, and after in a moment they become autonomous. In this paper we are going to talk about the total Compensation plan, and we are going to explain its importance in this company. First of all we are going to indentify Google’s pay philosophy. We will explain the terms of lead, match and lag and how they are used in this company. Then the most important part of our project is the direct financial compensation, the wages, the salaries, the incentives, and also the indirect financial compensation which is the mandatory and voluntary†¦show more content†¦Google has a very special way to reward its employees and especially with non-financial compensations. Indeed Google gives to its employees a lot of non financial advantages. First the schedule is adapted to everyone and very flexible. The schedule is composed with two kinds of workshop, that is to say flexible one which correspond to the autonomous works and researches and the set time workshops which correspond to the teamwork and other team activities. Second the facilities of Google are made to be pleasant for employees the can use their bikes inside the building, play a lot of games during their breaks even relax on a massage chair. Everything is made to create a good work atmosphere and to awake the creativity. We would say that Google reward program is very complete and made to satisfy every employee and to get the best from them. The people who are interested in money will be happy because of the good salaries and indirect financial compensations whereas people who prefer a flexible schedule and other non-financial compensations (because they want to have free time for their family or because it is important to relax at their workplace) will find what they need with this reward program. In our opinion the homogeneity of the reward program and the advance of Google in Human resource Management explain the success of this firm and its ability to innovate. Performance appraisal methods In a big company as Google is hard toShow MoreRelatedHr Report1523 Words   |  7 Pagescareer development plan, but they need to receive support from the organization in doing so. Google’s approach as a corporation leaves it up to the employees to knows what what’s out there and available to them for a successful career path. Self-reliance and the urgency is the approach Google would like to see in its employees an opportunistic attitude that will drive an individual approach towards his or her successful career path. Some of the development tools that Google offers are GoogleEDURead MoreHr Practices in Google1146 Words   |  5 PagesHR PRACTICES IN GOOGLE 1. Building innovation into job descriptions: 20 percent time Technical employees are required to spend 80% of their time on the core search and advertising businesses, and 20% on technical projects of their own choosing. Employees work structure follows a 70/20/10 model, 2. Eliminating friction at every turn: ensuring change can happen quickly and efficiently Google’s approach to innovation is highly improvisational. Any engineer in the company has aRead MoreThe Sustainability Of Google As An Employer Essay1735 Words   |  7 PagesINTRODUCTION The main focus of this report is the sustainability of Google as an employer. In the following sections, we will discuss the purpose and scope of this assessment as well as the sources we are considering for our research. Purpose The purpose of this project is to review Google and analyze it as a potential employer. Throughout the report, we will cover their financial status, the culture of the company, and the future outlook. Additionally, we will explore the benefits and incentivesRead MoreNon-Monetary Compensation: Employers Helping to Create a Work-Life Balance1280 Words   |  6 PagesNon-monetary Compensation: Employers Helping to Create a Work/Life Balance Prepared By: Prepared For: Laura Smagala, BSM 328 When job candidates discuss compensation packages with potential employers, the talk usually turns towards monetary compensation. Businesses have found that creating a balance between home life and work is just as important to their employee retention rates as their actual salaries. The reason for the shiftRead MoreCompensation949 Words   |  4 PagesCompensation Luis A Galloza University of Phoenix Human Capital Management in Puerto Rico HRM/571 PR December 21, 2011 Marta Angeli Rivera, PH-D. Compensation Compensation is everything the employee values and want and what the employer is able to offer in return for the contributions of the employee (Cascio 2006). This compensation system is composed of financial and non-financial incentives. Financial compensation are direct payments (wages) and indirect payments (benefits)Read MoreNew and Improved Rewards at Work1627 Words   |  7 Pagesthe overall competitive compensation strategy of the organization. Then, it explains how innovative benefits could be tied to specific jobs. After that, it critiques the effectiveness of equity-based rewards systems versus those with more creative approaches and discusses the key elements of integrating innovation into a traditional total rewards program. And last, it recommends a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organizationRead MoreGoogle s Strategic Plan And Initiatives1872 Words   |  8 PagesIt is no wonder that Google is considered one of the best company’s in the world to work for. With its generous pay and compensations plan it has the ability to attract th e best of the best employees. Googles well-designed compensation philosophy supports the organization’s strategic plan and initiatives, business goals, competitive outlook, operating objectives, and compensation and total reward strategies. Throughout its history google has continued to access their pay model and adjust it toRead MoreAnalyzing And Evaluating Apple Inc.1179 Words   |  5 Pageswe set out to provide a financial analysis of the company and develop a broad audit plan. We provide a breakdown of the company’s industry, primary products, raw materials used, sales, assets, number of employees, location, key economic factors related to the industry, strengths, weaknesses, opportunities, and threats, as well as an analysis of Apple’s financial strength. Secondly, we prepared a broad audit plan that focuses on material types of transactions, transaction cycles, high and low riskRead MoreRecruitment Of Talent And Talent Retention Essay1554 Words   |à ‚  7 Pagesemployees and over 100 million total assets (Shaofu, Ye. Personal communication. November 30, 2016). However, according to Mr. Shaofu’ s words (Shaofu, Ye. Personal communication. November 30, 2016), now the employees in the company started to complain about the employee treatment of the company and a substantial portion of staff in the company including senior and old employees choose to leave the company. First, select 3 vital criteria from the literature which are compensation system, working environmentRead MoreA Report On Bombardier Canada1132 Words   |  5 PagesAlcatel-Lucent SA and a member of the board of directors of Fiera Capital, DJM Capital and Centria. †¢ Vikram Pandit is the chairman TGG group and has been a director since 2014. †¢ Patrick Pichette is senior vice President and chief financial officer at Google Inc. and sits on the board since 2013. †¢ Carlos E. Represas holds the position of corporate director since 2004. †¢ Heinrich Weiss is the chairman of the supervisory board at SMS Holding GmbH:, and is a director since 2005. (Director s Bios - Board

Narcissistic Behavior from Media and Social Media - 685 Words

I believe media and social media plays a large role in the rise in narcissistic behavior in Western society. Facebook, YouTube are primary examples. I also felt that parenting philosophies of today play a part in the rise, as well. We have kids on YouTube taping the beatings of other classmates, you can post anything on Facebook and you can have phony friends on social media...doesnt anyone get to know someone before calling them a friend? I feel our society is full of phony counterparts; friends, beauty, rich people, celebrities, athletes, education, parent/child relationships, and our economy. I feel its almost as if society is living in a grandiose fantasy, and some of us (who actually see this happening) are left on the outside, looking in. Personally, I like being on the outside. I also felt current parenting philosophies, media and social media plays a large role in societys narcissistic behavior. Parents are often overindulgent and parents and educators are being told to teach self-esteem to the point that our children often feel that the world revolves around me. Self-esteem is a very important part of growing up, yet we also need to teach our children that the feelings and respect for others are just as important. Media makes models look picture perfect, even when they arent. Our social interaction on the Internet allows others to be disrespectful and hurtful while remaining anonymous (or not). Bullying and beatings are being filmed and posted onShow MoreRelatedNarcissistic Personality Disorder ( Npd )1578 Words   |  7 PagesAccording to DSM-IV-TR Narcissistic Personality Disorder (NPD) is characterized by symptoms that include grandiosity, an exaggerated sense of self-importance and a lack of empathy for others. This type of personality disorder is re lated to another disordered called, histrionic personality disorder. In both disorders, individuals act in a dramatic manner, seek respect from others, and are shallow in their emotional expressions and relationships with others. People with histrionic personality disorderRead MoreAfter Paying Close Attention To Both Of My Articles, Wagner1743 Words   |  7 Pagesobsessions over social media. To go more indepth of what they were saying, I started to explore how social media addiction can relate to the increase of infidelity in social media relationships. An article published in January of 2017 by Addictive Behaviors, called â€Å"The Relationship Between Addictive Use of Social Media, Narcissism, and Self-Esteem: Findings from a Large National Survey† by Cecilie Schou Andreassen and her colleagues argue that narcissism and egotistical behaviors are linked to addictionRead MoreNarcissistic Identity Identify With Conduct On Facebook1352 Words   |  6 Pagesinspirations driv ing social networking sites use. In this way, conceptualizing narcissism as only a sole construct may make us misconstrue the ways in which social networking platforms are utilized to fulfill different needs. Research has begun to analyze how the undesirable parts of narcissistic identity identify with conduct on Facebook (Carpenter, 2012). The modern study seeks to explain the good and the undesirable parts of narcissism by discussing about narcissism and how it relates to social networkingRead MoreAssociation Among Self Photography And Self Esteem, And Narcissism1218 Words   |  5 PagesNarcissism The procreation of social media in daily life has caused various questions about how individuals display themselves in these platform. The recent studies explored the association between self-esteem and the posting of self-photographs on a social media networking site such as Instagram, Snapchat and Facebook. Social media arenas have become strikingly popular in the past decade serving the varied communicative intentions. Despite the accelerated rise in social media networking industry, theRead MoreNarcissistic Identity Identify With Conduct On Facebook1353 Words   |  6 Pagesdriving social networking sites use. In this way, conceptualizing narcissism as only a sole construct may make us misconstrue the ways in which social networking platforms are utilized to fulfill different psychological needs. Research has begun to analyze how undesirable parts of narcissistic identity identify with conduct on Facebook (Carpenter, 2012). The modern study seeks to explain the good and the undesirable parts of narcissism by discussing about narcissism and how it relates to social networkingRead MoreSocial Media And Its Effects On Society Essay1603 Words   |  7 Pagesserves as the basis for all human interaction, and in this case, cyberbullying. With the explosion of social media and internet related activities, there has been a sudden increase in cyberbullying cases. Over the years, cyberbullying—which has often been linked â€Å"to harassing text messages, rumors spread online or through social media websites, and derogatory comments about someone on social media sites† (Stockdale, Coyne, Nelson, Erickson, 2015)--has grown tremendously, accounting for nearly â€Å"42%Read MoreNarcissistic Personality Disorder ( Npd )1612 Words   |  7 PagesIntroduction What is Narcissistic Personality Disorder? Narcissistic Personality Disorder (NPD) is a mental disorder where someone has an exaggerated sense of their own presence, a need for constant admiration from others and they also have a lack of empathy for anyone (Mayo Clinic). A couple questions I have include: How does social media effect society? How does social media have an effect on someone diagnosed with NPD, What are ways you can help someone with NPD, and what are some ways we canRead MoreIs Facebook Killing Our Souls?1588 Words   |  7 Pagesâ€Å"Social media allows people to connect with each other to create and share information. It is people-powered communication, an authentic dialogue motivated by a basic human desire to share information† (CIPD, Social Media and Employee Voice Report 2013). ‘Click’ and my message is on its way to my friend’s Facebook inbox hundred of miles away. The astonishing speed of how quick we can communicate in todayâ₠¬â„¢s societies, all thanks to social media. The invention of Facebook simplified everything we knowRead MoreSocial Media And Its Impact On Society Essay1549 Words   |  7 PagesSocial Media since its genesis in the late 1990’s, has served as a tool used by millions of people (and growing exponentially) for many purposes inclusive but not limited to, promoting people, events, places , foods and ideas as well as aiding in communication. However, many may agree that with the advent of Social Media, came many other issues which have essentially resulted in far more harm to the world than good. On the other hand, others have also posited and praised Social Media as beingRead MoreSociopath Portrayed In Tv And Movies Vs. Real Life. Name.1683 Words   |  7 PagesInstitution Sociopath portrayed in TV and movies vs. real life Introduction The word media is defined as the means or the channels of general communication in society, and it is used to store and deliver information data. Since the 20th century, there has been drastic growth in social media, computers, television, movies and the Internet, and the information passed in these media platforms influences people’s life. Media presentations are designed to attract a larger number of the audience rather than

My Agreement Essay Paper Example For Students

My Agreement Essay Paper With Steinbecks SuggestionSteinbeck suggests that in ?The Pearl ,which he wrote, desires of men and women tend to be quite different and I agree with it. Men and women have different thoughts and treated differently. It is true that men uses strength and women uses brains and that men always make troubles. In our society, usually men protect their women and children. With this in our minds, men and women feel themselves different, taught differently when they are born, and usually have different desires. We can learn from ?The Pearl that such as Kino, whom is the man, would start the trouble and pulls Coyotito, Whom is Kinosson, to death. But for Juana, the woman, knew something bad wasgoing to happen when she saw the pearlbut to not destroy her husband, Kino, s dreams, she keeps her mouth shut. I agree with Steinbecks suggestion in ?The Pearl that the desires of men and woman tend to be quite different. In my opinion, Men have strong pride and never want to loose especially in strength. As in ?The Pearl when Juana, who is Kinos wife, asked to throw the pearl that he found away, Kino only thought about winning and fighting. ?I will fight this thing. I will win over it. We will have our chance.? (P.57) Right after a bloodyfight with the man who was aiming for the pearl, Kino became selfish and forgot about his dreams. Only Juana knew that the pearl was evil and told. ?Kino, this pearl is evil. Let us destroy it before it destroys us. Let us crush it between two stones.? (P.56) But she did not want to make her husband disappointed and didnt beg him because sheknew that he will never give up the pearl. Like Juana, women cares about others feelings. In my opinion, men are also more didnt argue about this because she did not want to destroy Kinos dreams. Like Juana, women have passion which shows that women dont want to hurt others feelings. I also think that women are more careful than men. Women usually knows what they are doing, but men mostly make problems. When Kino said, ?I am a man.? (P.57) ?It meant that Kino would drive his strength against a mountain and plunge his strength against the sea. Juana in her womans soul, knew that the mountain would stand while the man broke himself; that the sea would surge while the mand drowned in it.? (P.59~60)This means that Juana knew that Kino is fighting with society and would collapse. Kino accepted this when Coyotito, Kinos son, died. This shows that men rush into things carelessly. I think that women desires of men and men desires of women. Like Juana loved and needed Kino and thought,?And yet it was this thing that made him a man, half insane and half god, and Juana had need of a man; she could not live without a man. Although she might be puzzled by these differences between man and woman, she knew them and accepted them and needed them? (P.60)As the quote explains that a women like Juana want and need a man like Kino. ? In Kinos head there was asong now, clear and soft, and if he had been able to speak of it, he would have called it the Song of the Family.?(P.2)The Song of the Family shows the love of his family, Juana and Coyotito. Kino fell in love with Juana and the love of needing shown in the Song of the Family. Therefore Men and women are have different thoughts and taught unequally. I figured what Steinbeck was trying to show about men and women how Juana and Kinos thoughts about the pearl were different. Juana had wise decisions which meant women dont makeproblems than men make.So I agree with Steinbecks suggestion thatoften selfish than woman. When Kino said, ?No one shall take our good fortune from us,? (p.57) he only thought about himself and made everyone his enemy. Juana desires of man and women tend to be quite different.

Southwest Airlines Business Model free essay sample

The airlines industry has historically been one of the most unprofitable industries. The reason can be explained when incorporating Michael Porter’s famous Five Forces Model. The threat of competition is Southwest Airlines Co. (NYSE: LUV) is an American low-cost airline based in Dallas, Texas, with its largest focus city at Las Vegas McCarran International Airport. It is the largest airline in the United States by number of passengers carried domestically per year and (as of December 31, 2007) also the largest airline in the world by number of passengers carried. It is also the 6th largest U.S. airline by revenue. [8] It also maintains the third-largest fleet of aircraft among all of the worlds commercial airlines. As of July 12, 2008, Southwest operates approximately 3,500 flights daily. Southwest Airlines has carried more customers than any other U. S. airline since August 2006 for combined domestic and international passengers according to the U. S. Department of Transportation’s Bureau of Transportation Statistics. [9] Southwest Airlines is one of the worlds most profitable airlines and in January 2008, posted a profit for the 35th consecutive year. Southwest Airlines was originally incorporated to serve three cities in Texas as Air Southwest on March 15, 1967, by Rollin King and Herb Kelleher. According to frequently-cited story, King described the concept to Kelleher over dinner by drawing on a paper napkin a triangle symboliziSouthwest Airlines founder Herb Kelleher studied California-based Pacific Southwest Airlines extensively and used many of the airlines ideas to form the corporate culture at Southwest, and even on early flights used the same Long Legs And Short Nights theme for stewardesses on board typical Southwest Airlines flights. The airline adopted the first profit-sharing plan in the U. S. airline industry in 1973. Through this plan and others, employees own about 10 percent of the company stock. ng the routes. (Dallas, Houston, San Antonio)[11] he rest of 1971 and 1972 saw operating losses. One of the four aircraft was sold to Frontier Airlines and the proceeds used to make payroll and cover other expenses. Southwest continued to operate a schedule predicated on four aircraft but using only three, and in so doing the ten minute turn was born, and was the standard ground time for many years. 16] Southwest turned its first annual profit in 1973, and has done so every year since — a record unmatched by any other commercial airline. Southwest has used financial techniques such as fuel hedging to bolster its profitability and counteract many of the fiscal disadvantages of operating an airline. Fuel cost containment measures Southwest Airlines earned a reputation for being very aggressive and proactive about containing fuel costs as a key to maintaining profit margins. [19] With fuel being an airlines most important variable cost, Southwests measures have become a model for the industry. Hedging fuel Southwest has a longtime program to hedge fuel prices. It has purchased fuel options years in advance to smooth out fluctuations in fuel costs. In 2000, Southwest said it had adjusted its hedging strategy to utilize financial derivative instruments when it appears the Company can take advantage of market conditions. Additionally, the company hoped to take advantage of historically low jet fuel prices. SEC statement Southwests decision proved to be a prescient and, for a time, extremely profitable effort. To lock in the low historical prices Southwest believed were occurring at that time, Southwest used a mixture of swaps and call options to secure fuel in future years while paying prices they believed were low. The company also stated that with this new strategy, it faced substantial risks if the oil prices continued to go down, but they did not. Previously, Southwest had been more interested in reducing volatility of oil prices. Now, they hoped to reap large gains from oil price appreciation. In 2001, Southwest again substantially increased its hedging in response to projections of increased crude oil prices. The use of these hedges helped Southwest maintain its profitability during the oil shocks related to the Iraq War and later Hurricane Katrina. According to an annual report, here is the companys fuel hedge for forward years (approximate per barrel basis, as of mid-January): 2007 is 95% hedged at $50/barrel; 2008 is 65% hedged at $49/barrel; 2009 is over 50% hedged at $51/barrel; 2010 is over 25% hedged at $63/barrel; 2011 is over 15% hedged at $64/barrel; 2012 is 15% hedged at $63/barrel. According to its 2006 Annual Report, Southwest paid low prices for fuel thanks to the benefit of fuel hedges: †¢2004 82. 8 cents/gallon †¢2005 103. 3 cents/gallon †¢2006 153. 0 cents/gallon These are well below market rates, which Southwest factors into its low operating costs. However, this below-market oil cost will not continue forever; executives have said that Southwest faces increased exposure to the raw oil market every year. This is not a good sign for the airline, which is also facing tough competition from US legacy carriers that have lowered costs through bankruptcy. Southwest CEO Gary Kelly has decided to slow the airlines growth as a response to this cost. Some analysts have argued against the style of profit-motivated energy trading Southwest did between 1999 and the early 2000s. They suggested that rather than hedging business risk, (such as a hedge on weather to a farmer), Southwest was simply speculating on energy prices, without a formal rationale for doing so.

Queen Isabella of Castile Essay Example

Queen Isabella of Castile Paper Queen Isabella of Castile Imagine being born into a place renewing and renovating its knowledge. Not only imagine this, but imagine being a part of the royal family. Imagine choosing a suitor, and then imagine being a queen. Now, when you’re imagining these things put yourself in their shoes. Deeply and thoroughly look into all the challenging responsibilities a queen must go through on a daily basis. Queen Isabella of Castile is such a shining prime example of powerful queen ship during the Renaissance. Isabella of Castile had blue eyes, chestnut-haired, and beautiful. She favored jewels and lovely gowns that she wore throughout her life. As heiress to the throne of Castile she had her pick of royal suitors. Her brother, King Henry IV of Castile, arranged a marriage to Don Carlos, the Prince of Viana. But before the final arrangements could be made, Don Carlos died. King Henry IV had tried to arrange other marriages to Isabella, but she had already chosen Ferdinand. Her brother was furious. He threatened to throw her into the dungeon. Because of her powerful supporters, he knew he could not do that. Instead, he made her promise that she wouldn’t make any arrangements until after he returned from Andalusia. However, as soon as her brother left she began to make arrangements with Ferdinand. However, she had to find him. So she sent out noblemen to search for him and he was finally found in Sicily, Italy. He braved a trip back to Spain and married Isabella in 1469. This began the thirty-five year joint rule of a unified Spain by the Catholic Monarchs. We will write a custom essay sample on Queen Isabella of Castile specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Queen Isabella of Castile specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Queen Isabella of Castile specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Isabella had five children with Ferdinand which include: Isabella, Queen of Portugal, John, Prince of Asturias, Joanna I, Queen of Castile, Maria, Queen of Portugal, and Catherine, Queen of England. Isabella is famous for many important things. The most famous would be her sponsorship for Christopher Columbus to sail across the Atlantic Ocean in hopes to find a way to get to India. In 1492, Isabella was convinced by Christopher Columbus to sponsor his voyage of discovery. By the traditions of the time, when Columbus discovered lands in the New World, they were given to Castile. Isabella took a special interest in the Native Americans of the new lands. When some of them were brought back to Spain as slaves she insisted they be returned and freed, and her will expressed her wish that the Indians be treated with justice and fairness. Another important thing she is famous for is the Inquisition in Spain, one of many changes to the role of the church instituted by the monarchs. The Inquisition was aimed mostly at Jews and Muslims who had overtly converted to Christianity but were thought to be practicing their faiths secretly. Isabella and Ferdinand proceeded with their plans to unify all of Spain by continuing a long-standing effort to expel the Muslims who held parts of Spain. In 1492, the Muslim Kingdom of Granada fell to Isabella and Ferdinand. That same year, all Jews in Spain who refused to convert to Christianity were expelled by royal edict. Queen Isabella of Castile is such a shining prime example of powerful queen ship during the Renaissance. She had disagreements with her brother, married Ferdinand, sponsored a voyage to The New World, and started the Spanish Inquisition. So how would you like to be a queen during the Renaissance, again?

Introduction of the Compare and Contrast Essay Sample

Introduction of the Compare and Contrast Essay SampleThe introduction of the compare and contrast essay sample is often seen as a problem for students. However, it is not always the case as it can actually work in your favour if you do use it.The introduction of the compare and contrast essay sample usually focuses on a specific topic. This usually involves defining the contents of the essay. In most cases, the focus is also on a certain period in time.It is important that you get a brief description of the essay so that you can ensure that the information you will need will be available for you. Many times, the essay sample will provide some basic information on the essay and what it is about.It is essential that you think about the final result and decide which parts will be included in the essay. The most common situation where the introduction of the compare and contrast essay sample is used is when a student is trying to get their essay published. You need to be prepared to writ e an impressive article and want to ensure that you take a good look at the introduction before you begin writing.You must ensure that you get your article written at a level where you can achieve a really impressive article. This means that you need to be able to make use of key words in your essay. This is an essential part of the overall structure of the essay and the outline of the article.In order to take the best possible approach to the introduction of the essay, it is essential that you create an outline for the article. It is important that you write out the outline and then start to write the essay so that you have an idea of what the content is going to be about. It is also important that you make sure that you are not going to forget a key word in the content.The introduction of the compare and contrast essay sample usually focuses on the introduction and conclusion of the essay. The main aim of the essay is to demonstrate that the student has used a particular keyword t o help with the piece. To achieve this, the student will need to be able to use these keywords to achieve the desired results.If you are taking this approach to writing your essay, you are doing well. The introduction of the compare and contrast essay sample is one of the most common ways to get your essay accepted.

The uk authorities and the cfa criminal law and civil law The WritePass Journal

The uk authorities and the cfa criminal law and civil law Introduction The uk authorities and the cfa criminal law and civil law IntroductionBIBLIOGRAPHYRelated Introduction Insider dealing is considered to be legally and morally wrong by the UK authorities and the CFA. In UK, both criminal law and civil law cover the regulation for insider dealingï ¼Å'many investment analysts who are the members of CFA Institute behave under the CFA Code of Ethics and Standards of Professional Conduct. Before the description and effectiveness analysis of UK laws and CFA ethical rules which regulate insider dealing, it is necessary to discuss the reasons for regulating insider dealing. Although there are many arguments and reasons against regulation, it is generally acknowledged that insider dealing is detrimental to common investors, listed companies and stock market. Firstly, stock market is a just, fair and open market, but insider dealing violates this essential principle. With a convenience access to insider information, some use the information to trade in the market, it is not fair for other investors without access to insider information; Insider dealing makes the few profitable and the great majority unprofitable, it is not just; Insider information is not public and open for every investors. Secondly, insider dealing causes losses for investors by misleading them. To some extent, this would discourage investment by undermining investor confidence in stock market and even scare investors away. Thirdly, insider dealing does incalculable harm to reputation and market value of company. When a company scandal of insider dealing is exposed publicly, investors p robably believe that they have been treated unequally even cheated by this company, so investors will lose confidence in this company, causing damages to company reputation. Moreover, common investors lack of capital, time and professional skill, on purpose of risk reduction, they are willing to buy stock of the company with good reputation and without scandals of insider dealing. For the whole stock market, if there are no regulations for insider dealing, it cannot function normally and healthily, because investors will lose confidence in the fairness and profitability of stock market and then decrease and even stop doing transactions to prevent them from being victims of insider dealing. Finally, insider dealing may bring about moral hazard problem. Overall, there is no doubt that regulations for insider dealing are essential. In UK, insider dealing is regulated under the criminal law by Part V of the Criminal Justice Act 1993 (â€Å"the 1993 Act†). The structure of part V of â€Å"the 1993 Act† is shown below: Table of Contents of part V of â€Å"the 1993 Act†1 The offence of insider dealing 52. The offence. 53. Defences. Interpretation 54. Securities to which Part V applies. 55. â€Å"Dealing† in securities. 56. â€Å"Inside information†, etc. 57. â€Å"Insiders†. 58. Information â€Å"made public†. 59. â€Å"Professional intermediary†. 60. Other interpretation provisions. Miscellaneous 61. Penalties and prosecution. 62. Territorial scope of offence of insider dealing. 63. Limits on section 52. 64. Orders. S52 and S53 state the general definition of the offence of insider dealing, and in what circumstances, an individual who has information as an insider is (not) guilty of insider dealing. If an individual who has information as an insider, in the circumstances mentioned in subsection (3), deals in securities that are price-affected securities in relation to the information; encourages another person to deal in those securities; discloses the information to another person improperly, he is guilty of insider dealing.2 If an individual has information as an insider shows that he did not at the time expect the dealing to result in a profit; he believed on reasonable grounds that the information had been disclosed widely; he would have done what he did even if he had not had the information; he did not at the time expect any person, because of the disclosure, to deal in securities in the circumstances mentioned in subsection (3), he is not guilty of insider dealing.3 The sections of â€Å"Interpretation† expound the definition and explanation of several terms for the purposes of this Part. Briefly speaking, these sections tell us what are securities and â€Å"dealing† in securities mentioned in this part; what is â€Å"insider information† and information â€Å"made public†; who is â€Å"insider† and â€Å"professional intermediary†; interpretations of other terms such as â€Å"regulated market†, â€Å"issuer†, â€Å"company† and â€Å"public sector body†. S61 states the penalties for an individual guilty of insider dealing: on summary conviction, to a fine not exceeding the statutory maximum or imprisonment for a term not exceeding six months or to both; on conviction on indictment, to a fine or imprisonment for a term not exceeding seven years or to both.4 It also states that proceedings for offences under this Part shall be instituted in England and Wales by or with the consent of the Secretary of State or the Director of Public Prosecutions.5 S62 states that an individual is guilty of an offence of insider dealing if: he was within the United Kingdom at the time of alleged dealing; the regulated market on which the dealing is alleged to have occurred is regulated in the United Kingdom; the professional intermediary was within the United Kingdom at the time of the offence committed; the alleged recipient of the information or encouragement was within the United Kingdom at the time of receiving the information or encouragement.6 In UK, the system of civil law of insider dealing involves legislations of â€Å"Financial Services and Markets Act 2000(FSMA)†, â€Å"The Code of Market Conduct of FSA (Financial Services Authority)† and â€Å"The Market Abuse Directive Instrument 2005 of FSA†. First of all, Part VIII of â€Å"FSMA† created the ‘civil offence’ of â€Å"market abuse† which includes insider dealing. According to Section 1 in Part I of â€Å"FSMA†, the body corporate known as the Financial Services Authority (â€Å"the Authority†) is to have the functions conferred on it by or under this Act.7 This means that â€Å"FSA† is the regulator of the financial services industry in the UK, given statutory powers by the Financial Services and Markets Act 2000. Part VIII of â€Å"FSMA† states the general definition of market abuse, and gives the authority power to prepare and issue a code containing such provisions as the Authority consi ders will give appropriate guidance to those determining whether or not behaviour amounts to market abuse,8 and to impose penalties in cases of market abuse. It also gives the authority power to investigate and court power to impose penalty in cases of market abuse. In the next place, â€Å"The Code of Market Conduct† given by FSA provides us the descriptions of different behaviours of market abuse. As the description stated in â€Å"The Code of Market Conduct†, insider dealing is where an insider deals, or attempts to deal, in a qualifying investment or related investment on the basis of inside information relating to the investment in question.9 In the sector of MAR 1.3 Market abuse (insider dealing), it provides several descriptions of behaviours and relevant factors and some examples of insider dealing, which give appropriate guidance to those determining whether or not behaviour amounts to insider dealing. Finally, about â€Å"The Market Abuse Directive†, â€Å"FSA† makes this instrument in the exercise of the powers and related provisions in relevant sections of the Financial Services and Markets Act 2000 and defining terms of market abuse. Overall, â€Å"FSMA† is a frame Act, and gives the power to â€Å"FSA† to publish the â€Å"Code on Market Conduct† which has been amended to implement the â€Å"Market Abuse Directive†. As a professional organisation, CFA Institute has issued self regulatory â€Å"Code of Ethics and Standards of Professional Conduct† for their members and candidates. In the first place, standard I (A) provides that members and candidates must understand and comply with all applicable laws, rules, and regulations of any government, regulatory organization, licensing agency, or professional association governing their professional activities. In the event of conflict, members and candidates must comply with the more strict law, rule, or regulation. Members and candidates must not knowingly participate or assist in and must dissociate from any violation of such laws, rules, or regulations.10 So the members and candidates of CFA in UK are responsible for understanding and complying with UK criminal law and civil law of insiderdealing. Next, standard II (A) provides that members and candidates who possess material nonpublic information that could affect the value of an investment must not act or cause others to act on the information.11 According to S56 of the â€Å"1993 Act†, the material nonpublic information that could affect the value of an investment is insider information, and according to S57 of the â€Å"1993 Act†, those members and candidates who possess insider information are insiders. Specifically, guidance for Standard II (A) gives members and candidates of CFA below contents for more attention. (1)Members and candidates must be particularly aware of information that is selectively disclosed by corporations to a small group of investors, analysts, or other market participants. Information that is made available to analysts remains nonpublic until it is made available to investors in general. Corporations that disclose information on a limited basis create the potential for insider trading violations.12 (2)Issues of selective disclosure often arise when a corporate insider provides material information to analysts in a briefing or c onference call before that information is released to the public. Analysts must be aware that a disclosure made to a room full of analysts does not necessarily make the disclosed information â€Å"public†. Analysts should also be alert to the possibility that they are selectively receiving material nonpublic information when a company provides them with guidance or interpretationof such publicly available information as financial statements or regulatory filings.13 (3) A financial analyst gathers and interprets large quantities of information from many sources. The analyst may use significant conclusions derived from the analysis of public and nonmaterial nonpublic information as the basis for investment recommendations and decisions even if those conclusions would have been material inside information had they been communicated directly to the analyst by a company. Under the â€Å"mosaic theory,† financial analysts are free to act on this collection, or mosaic, of inf ormation without risking violation.14 Part V of the Criminal Justice Act 1993 defines insider dealing as criminal offence, it is universally known that criminal offence is very severe illegal-activity, so to some degree just the existence of this criminal law of insider dealing can stifle some criminal offences of insider dealing. In event of insider dealing, this criminal would punish an individual who committed insider dealing to indirectly protect other investors without any compensation, but this indirect protection is not effectively enough. When control rights are concentrated, the restrictions may simply transfer profits from insiders to informed outsiders, leaving uninformed investors no better-off, unless the regulator ensures a concomitant improvement in investor protection standards.14 On the other hand, there are some problems and difficulties enforce this criminal law. First, insider dealing is happened in private and secret by just a phone call, a chat or something which do not leave any actual evidence, so if without effectively investigative techniques it is very difficult to detect or to collect evidence. Even though this can be done, the process will be costly. Moreover, for an individual who seriously committed insider dealing, fines and seven-year sentences is too light when compared with millions of pounds profit. UK civil law in some cases supplements criminal law, FSA can impose penalties of return of profit and restitution for those who can establish loss, but actually few victims can prove loss. CFA code of ethics and standards are self-regulations which have their own strengthens and weaknesses. There are six factors of self-regulation strengthen: flexibility, speed, expertise, acceptance, cost-efficiency, cross-border application, and of its weaknesses: contestability of markets, competitive distortions, insufficient scope, inadequate enforcement, regulatory arbitrage, conflicts of interest.15 Total word: 1912 (excluding word count, references, footnotes, endnotes, and bibliography) BIBLIOGRAPHY Part V of the Criminal Justice Act 1993 Part I of the Financial Services and Markets Act 2000 Part VIII of the Financial Services and Markets Act 2000 The Code of Market Conduct in Financial Services Authority Handbook Market Abuse Directive Instruments of Financial Services Authority CFA Study Session 1 Eva Hupkes, Journal of Business Law 2009 Regulation, self-regulation or co-regulation? Art A. Durnev and Amrita S. Nain, The Effectiveness of Insider Trading Regulation Around the Globe