James Berardinelli. “Twelve Monkeys” Essay

12 monkeys Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the movie ‘12 monkeys’ there was a virus which was deliberately released in 1996 and killed more than five billion people. The survivors went to seek refuge into the underground sending volunteers to bring insect specimen from the universe to test for the virus presence. One of the sent prisoners is James cole who goes is given a chance to go back to 1996 but he is taken to 1990 instead. He remembers things as if he was in a dream. Among the things is where he remembers witnessing a man being killed in the airport while he was a child. This is what is always seen to be the Centre stage in whole movie (Lynette, 3). Below is a discussion on how mental illness can be judged on this particular movie for part one, part two discusses the definition of mental illness in regard to the social norms and believes, with part three closing with the discussion of how Cole’s experience relate to Plato’s allegory of the cave.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In this film, mental illness is featured in many instances for instance, when Jose mentions that the so called volunteers are said to go mad. This presents a clear show of mental illness in the movie. We also notice cole being locked up in the mental institution with other lunatics, showing that there were other many lunatics present. Goines is definitely crazy or schizoid because of his hallucinating and grandiosity nature. Dr. Railly, the psychiatrist alludes that may be the whole world may be insane. We really don’t understand if cole was really from the futureor was he ‘mentally divergent’. We notice cole questioning his mental capabilities, where he asks himself if it could not be great if he was crazy. Simultaneously the Dr. is convinced that he is from the furfure of which we know that this can not be right (Lynette, 8). If he was really sane and from the furfure, then how can one explain the voice that he hears, the one he calls bum calling him Bob, what of the changing guard faces what of the fact that he is never seen coming or leaving and his memory lapses? We really can’t know the physical divergence he claims to have because one can’t explain his fore knowledge about the boy in the well. The appearances in the world War onephotos and the bullets in his leg. In short, this movie seems to be implying that we may not be mentally ill or weird than the world we live.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Relative to the social believes and norms, mental illness or abnormality can be seen as not being an exact process as it tends to focus on different individuals with different lines of thinking. This relies on different situations, behaviors and context to which the measurement is applied (Weinberger ,2001)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In defining abnormality, people from different societies and countries have varied ideas. Each and every culture has its own concepts of what it considers to be normal or abnormal. This can make us conclude that what is considered as abnormal in one society is not the same in other societies. So, there is no society which is mere superior than the other in their perception of mental illness or one society has got many mental disorders than the other (American Psychiatric Association. 2000).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If we look at the deviation from the norms, something or somebody can be considered abnormal if does not conform to what could be considered statistically abnormal. Those who focus on this aspect, only consider specific aspects. For instance, the intelligence quotient (IQ), the personal traits and their distribution. Asserting that a person is is abnormal in this aspect typically means that they deviate from the numeric average of a specific trait and behavior patterns.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The other mostly applied aspect in examining the mental illness of people is the deviation from the social norms. Naturally, some behaviors are considered as being not accepted in the society, but they can still be expected to be applied in certain situations. The majority of the population knows how to adjust and come along with these changes (Weinberger ,2001). The ones that contradict this are taken as abnormal or mentally ill on the extremes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Also, a person is considered abnormal if he/she is not functioning correctly in that he or she may lack a full range of emotion and feelings and therefore his life is considered abnormal. These kinds of people can only be able to participate in only limited range of functioning lifestyle(American Psychiatric Association. 2000). Distress can also be used to gauge the mental illness capability of people as it could be an underlying mental problem.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another aspect in the social norms definition of mental illness is the person’s association with others. If a person relation with others courses people to feel discomfort, it could be taken as these people are not mentally right. Along with this is the people’s unpredictable behavior which could much reflect on their mental health.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Cole’s experiences relate to the Plato’s’ allegatory of the cave’ as his allegations that the real world may not be what our senses reveal. In relation to the Cole’s experience, we see him moving from one world of the past to the furfure or the vice varsa. In real this could only be a dream or mere imaginations, this alludes that Cole’s experiences could be reflecting Plato’s thoughts or allegations. In his Dialogue with Glaucon, we are not sure of the cave which he was referring to, either it could be the underground that the people had escaped to after the virus struck the universe or the prison where Cole was imprisoned.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   When he imagined that the prisoners could think that the sound that they heard were really coming from the shadows, it coincides with Cole seeing the changing face of the guard and that of omnipresence. His concepts on the shadows could reflect Cole’s switching from one world to another. Was what he saw from the 1990 world true or could it his experience from the 1996 and 2035? Which was the truer experience?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the last part of their discussion with Glaucon, he tells him that they, meaning the government, can not show any gratitude for the culture which they have never received. This could be reflecting the 12 monkeys who had released the virus that almost eliminated the human race according to the film. He said that with education on how to tackle issues, one will be able to defeat these ill minded people, reflecting Cole’s endeavors. References Roger Ebert (1996-01-05). â€Å"12 Monkeys†.Chicago Sun-TimesLynette Rice (August 26, 2013). â€Å"12 monkeys pilot†. Entertainment Weekly James Berardinelli. â€Å"Twelve Monkeys†.Reviews Commission on Behavioral and Social Sciences Education, National Research Council. 2000. How People Learn: Brain, Mind, Experience, and School. Washington, DC: National Academies Press. Weinberger, D., Torrey, E.F., and Berman, K. 2001. Schizophrenia PET scan. Retrieved July 13, 2008 American Psychiatric Association. 2000. Diagnostic and Statistical Manual of Mental Disorders, 4th Edition The Allegory of the Cave http://www.historyguide.org/intellect/allegory.html Source document

Positive nonverbal messages Essay

From the way we dress to the way we move, our nonverbal signals can reveal a great deal about our emotions, perceptions and intentions. When a person is talking or listening, he sends continuous messages consciously or unconsciously through his body movements, such as the way he holds his head, the angle at which he hold his body, his movements of limbs and his changing facial expressions. This kind of communication in which no verbal language is used comes under the category of non verbal communication. According to Knapp & Hall (2002) non verbal communication refers to communication that is produced by some means other than words, e. g. , eye contact, body language or vocal cues. The significance of nonverbal communication, in establishing interpersonal relationships, is far greater than any one can think of. According to experts, a substantial portion of our communication is nonverbal. On the basis of its effect nonverbal communication can be classified under following three categories. 1. POSITIVE NONVERBAL COMMUNICATION – Positive nonverbal messages puts the other person at ease. When a person expresses an open and positive attitude towards the person with whom he is interacting, it creates a supportive and collaborative atmosphere. Use of positive non-verbal communication helps a person to become more effective and successful. It significantly affects the level of interpersonal relationship. It also determines the overall impression people form about a person. There are several types of positive non verbal indicators. For example turning face to the sender, leaning slightly forward towards him indicate that he is interested. , Nodding to express understanding, smiling or touching the person gently are other types of positive non verbal cues. The eye contact is most effective non verbal cue to achieve the goal of gaining someone’s trust. The way one uses his body and limbs, his eyes and face, will have a major influence on how his non verbal messages are perceived. 2. NEGATIVE NONVERBAL COMMUNICATION – Sometimes non verbal body movements, gestures and facial expressions generate disinterest & distrust. It creates a state of confusion on the part of the receiver. The type of communication which comes under the above category is known as negative nonverbal communication. Negative nonverbal messages hampers collaborative and supportive environment. To ensure effective communication one must avoid giving such type of cues. Staring or gazing at other can create pressure and tension between the receiver and the sender. Negative facial expression, shifty eyes, too much blinking suggest deception Eyebrow muscle draws the eyebrows down and toward the center of the face if someone is annoyed. Talking to someone without maintaining the eye contact is distracting and often interpreted as insulting. If a person keeps talking on phone or keeps working on the computer during the conversation, it shows that he is not interested. 3. NEUTRAL NONVERBAL COMMUNICATION –This is the type of nonverbal communication which have neither positive or negative effect on the receiver. The type of body movements , postures and tone which have neutral effect on the receivers feelings and emotions comes under this category. It is very difficult to label any non verbal cue as neutral. People attach meaning even to a neutral message. During listening one rarely can stay silent for long, silence in some instances may be treated as neutral non verbal communication. If it lasts more than for 5-6 seconds then it turns into a negative cue. Sounds like ‘Mmm’, ‘Ah’ and ‘Hmmm’ when used in a neutral way invite learner to continue talking. CONCLUSION – Sending clear nonverbal messages and understanding correctly the message send by someone, largely depends upon the way how you are perceiving the total situation, and the person with whom you are communicating. Your mind set and the environment in which the communication is taking place also determine how you interpret and react to the non verbal messages. Interpretation of the messages depends upon past experiences,feelings, attitude and socio cultural background of the receiver. Communication can be misperceived if the source and the receiver does not share common experiences and common frame of reference. REFERENCES Knapp,M. L & Hall, J. A (2002) Non Verbal Communication in Human Interaction, Crawfordsville, IN : Thompson Learning Smith,T. E, & Gartin B. C, Murdick, N. L, &Hilton,A (2006) : Positive Indicator Of Non Verbal Communication Pearson Allyn Bacon Prentice Hall retrieved on 13th May,2010 Windle,R & Warren, S Communication Skills retrieved on 13th May 2010 from http://www. directionservice. org/cadre/section4. cfm

How Did Penicillin Help the Allies Win Wwii?

How did Penicillin help the Allies win WWII? Branna Prine Word Count: 1,894Table of Contents Plan of the Investigation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Summary of Evidence†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4-5 Evaluation of Sources†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7-9 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 0 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 A. Plan of the Investigation The scope of the investigation concerned the magnitude of penicillin and how it helped the allies win World War II (WWII). The researcher scrutinized the invention and process in which penicillin came to be, the different types of penicillin we have and use today, how it was used to help us more than any other drug in history at one point, and how it came to save thousands of lives in WWII. The researcher’s method was to use multiple primary resources such as articles written by scholars, medical professionals, and historical investigators. The evidence that was found was evaluated and observed for origin, value, and purpose of penicillin and its use in WWII. B. Summary of Evidence In 1928, Sir Alexander Fleming discovered the first natural mold of Penicillin(Tames 5). Even though his â€Å"creation† was mostly on accident, Fleming had been itching to discover a new â€Å"wonder drug† since he first became interested in being a scientist(5). Though the knowledge of disease causing bacteria was somewhat understood at the time, medical researchers had yet to find a chemical able to rid the body of the potent bacteria while not harming the body at the same time. Fleming’s first form of Penicillin was just what was needed to kick off the ultimate breakthrough of medicine. Even then, it wasn’t until another decade after this discovery that people really started needing and using Penicillin to save lives(History of Penicillin). Although Fleming is credited with this important discovery, it took the start of WWII to pursue medical scientists to strengthen the effect the drug had on people. It’s all thanks to a total of 39 different groups of scientists that hundreds of thousands of fighting men’s lives were saved(World War II and Peoria). Penicillin was considered to be the war’s official wonder drug because of the unbelievable effects it had on infections and deadly diseases. The use of this drug is what made WWII different from any previous war(World War II and Peoria). Before Penicillin was introduced to the allies of the war, soldiers rapidly died from infections such as Staphylococcal(staff), streptococcal(strep), and pneumococcal(pneumonia) (World War II and Peoria). Since death was the ultimate outcome of these infectious diseases, the number of available soldiers to fight dropped immensely and expeditiously. Due to the shortage of men, sergeants called for men to be recruited no matter their experience; as long as they were 18 years old(Inside WWII). That then led to more deaths of young cadets because of the lack of knowledge of what to do on the battle field. At that point of time, the allies came to the conclusion that what they needed was a wonder drug ready to use when needed. That’s when Howard Florey and Ernst Chain were forced in with their team of scientists to use Fleming’s Penicillin mold and improve it to where it cured a grown man of a life threatening infection or disease; and make a quantity of hundreds of thousands(World War II and Peoria). After a total of 39 separate drug laboratories in the U. S. ad given their all to synthesize inorganic Penicillin, in 1941, they created a version 20 times more potent than what they started out with in 1939(22). By the autumn of 1943 the war doctors were using the drug on only American and Allied military patients with life-threatening infections. Since a single infection usually called for two million units of Penicillin(single ampoules held 100,000 units), rati oning who got what treatment was crucial(World War II and Peoria). The scientists shortly discovered that, while the new version of Penicillin was of very good quality, their new focus needed to be directed on quantity of the drug. By 1945, the team of scientists brilliantly came up with an amazingly effective technique that supplied the allies with 7,952 billion units of the strongest possible version of penicillin at the time(World War II and Peoria). Though the injections were painful(the needles had to be large enough to allow the medicine to flow through) and had to be given every four hours, soldiers agreed it was worth being able to live and continue fighting to the victory of WWII(23). By the end of it all, the magnificent wonder drug saved the lives of hundreds of thousands of warriors and even more citizens in the U. S. and has continued to fulfill its duty all the way up to today’s time(World War II and Peoria). C. Evaluation of Sources â€Å"World War II and Peoria† was the title of the article that helped the researcher the most to come to a conclusion on how Penicillin helped the allies win WWII. The article’s purpose was to further inform people about the studies and development of penicillin during WWII. The article talked about the illnesses and wounds the soldiers fighting in WWII came in contact with and how Penicillin helped them fight and survive through it all. This particular unit differed from the rest because it did not have its focal point on how Penicillin came to be, but rather its purpose and usage in WWII. However, it did have some limitations of information on specific numbers and names of soldiers that were affected by the wonder drug. The point of view that the article used was from a college professor who had dabbled in history as well as medicine. The professor’s name was Jennifer Rosenburg and she had posted this information around 2000. The second most helpful article’s title was â€Å"Inside WWII . The purpose of the article being written was to tell a more medical side of the war as opposed to the blood and guts. Although, it still lingered on with the facts and details of the war itself too much, which limited it with important details it should have withheld about the medical side of the war. But, because of the focusing on one little part at a time problem, the researcher ended up to find it very valuable. It stated facts that were focused on the medicine during the war instead of the medicine in general. The origin of this information was found by Dr. Steven Lister. He was a doctor during the war, so this gave him a personal experience and the researcher found great value in this type of first hand information. D. Analysis During the period of penicillin gaining importance, World War II was going on. This specific war was fought from 1939 to 1945 by the Axis: Germany, Italy, and Japan; and the allies: Australia, Belgium, Brazil, Canada, China, Czechoslovakia, Denmark, Estonia, France, Greece, India, Latvia Lithuania, Malta, The Netherlands, New Zealand, Norway, Poland, South Africa, United Kingdom, United States, USSR, Yugoslavia, and many others(The Axis and the Allies). The war was fought by more than fifty countries in the world. The main causes of the war for the U. S. and Britain were The Great Depression and the Treaty of Versailles(Wars and Battles 1939-1945). Around 1943, the Allies really started to need help because they were losing so many soldiers due to infections caused mostly by severe battle wounds which ultimately led to the being outnumbered and overtaken by the Axis. That is where Penicillin came in. Scientists spent over $2,000,000 trying to perfect and learn more about the drug(World War II and Peoria). They eventually found out that what this drug did, once successfully inserted in the body, was it located the source of the infection and fought only the harmful bacteria( Tames 15). As opposed to the other drugs, at the time, which destroyed not only dangerous bacteria, but the vital bacteria used for fighting infections naturally found in the body(16). The drug, therefore, saved over hundreds of thousands of men(World War II and Peoria). A few months after the Allies received the drug, the Axis groups started to surrender, which officially ended the war in 1945 with the Allies‘ being the victorious group(Wars and Battles 1939-1945). Under the circumstances that the allies started winning after penicillin came into the picture, that was considered to be one of the main, but least recognized, expositions for the victory of the allies. Of all the evidence the researcher has came up with to support this claim, the three main pieces of evidence are as follows: only two years after penicillin was thoroughly introduced to the war, the allies won; so many lives were saved –on and off the battlefield–how could it not have such a huge impact; and they must have known it was going to be a huge help, otherwise they would not have invested so much money in the whole process of innovating and testing the drug(World War II and Peoria). The first point was the victory of the allies shortly after penicillin came to use in the war. When they fought without the drug, the allies were losing by a drastic amount considering the vast number of men that died every day from infections on their battle wounds and had suffered without the care that penicillin provided(23). The soldiers suffered for a total of about three and a half years before they actually got penicillin shipped in that had an affect on people(World War II and Peoria). However, when they did get the wonder drug in, they spent about six months learning the different side effects, insertion ways, and preparations needed before they gave the soldiers all they needed to keep them alive and fighting(World War II and Peoria). The second point, was that there was such a large number of people saved by the drug, that it had to have made some kind of a difference in the way World War II ended. In less than a year, penicillin saved 187 lives just of people in America(21). In the war, penicillin took the death toll, caused by wound infections, from over 12 percent down to less than 1 percent on average(23). That would mean the allies side of the war would have had a 12 percent advantage over the axis in the battle at this time due to the drug keeping the soldiers dying from wound related infections. The last point stated was with all the time, money, and dedication with bettering this drug, penicillin obviously had a huge impact on World War II The U. S. spent over $2,000,000 trying to perfect the drug to make it effective enough to cure a whole army of men versus enough for one or two individual people. The money not only paid for the equipment needed, but for the 39 different groups of scientists hired to innovate and test the drug to reach the desired goal(History of Penicillin). E. Conclusion When Penicillin started out, it was but a simple form of mold. Then, When Fleming discovered it destroyed bacteria in the human body without harming the human in any way. He then had over 30 different teams of scientists work at improving this mysterious new drug to make it potent enough to help a man overcome pneumonia. After years and years of experiments and millions of dollars spent, they finally got what they had been working for. They sent as much as they could to the troops fighting WWII at the time. The doctors at the war stations gave it to the men in critical condition and the drug got them back on their feet and fighting in about a week. F. Bibliography Works Cited â€Å"The Axis and the Allies. † The Countries Who Fought in World War Two. Mandy Barrow, 2010. Web. 12 Nov. 2011. . â€Å"The Drug Safety. † The Drug Safety. The Drug Society, 2011. Web. 26 Sept. 2011. . â€Å"How Penicillin Came to Be. Alexander Fleming in WWII. J. Miller. Web. 28 Sept. 2011. . â€Å"Inside WWII. † History Learning Site. Chris Trueman, 2000. Web. 28 Sept. 2011. . Prine, Patricia R. â€Å"Moma's Notes. † Personal interview. 2 Oct. 2011. Tames, Richard. Penicillin: a Breakthrough in Medicine. Chicago: Heniemann Library, 2001. Print. â€Å"Wars and Battles, 1939-1945. † United States American History. Web. 12 Nov. 2011. . â€Å"World War II and Peoria. † 20th Century History. Jennifer Rosenburg, 2001. Web. 26 Sept. 2011. . â€Å"WWII and Medicine. † Medicine in World War II. 2001. Web. 27 Sept. 2011. .

The Evolution Of Primate Locomotion And Body Configuration Essay

The Evolution Of Primate Locomotion And Body Configuration - Essay Example In 1956, while searching through a collection of fossils at the American Museum of Natural History, I came across a small piece of forehead bone, identified as a "possible primate," that had lain neglected for half a century. It had been recovered from the Fayum badlands, sixty miles southwest of Cairo, Egypt, by an amateur collector named Richard Markgraf. The rock in which it was found was known to belong to the geological epoch we call the Oligocene (now estimated to have lasted from 34 to 23 million years ago). Although only the size of a quarter, the fossil displayed two defining characteristics of the Anthropoidea, or higher primates--the large evolutionary group that includes monkeys, apes, and humans. I could tell that the right and left frontal (forehead) bones in this small animal were fused along the midline suture into a single bone, as is the case in all the higher primates. And on the right side, just enough of the rim of the eye socket was preserved for me to establish that it was fully enclosed in the back by bony plates (the eyeballs of more primitive primates are normally encircled by just a thin bar of bone). Neither feature had been previously documented in so old a fossil. Better late than never, the small piece of bone joined a short list of other fossils discovered in the Fayum between 1906 and 1910 that also appeared to belong to higher primates. The best of the other fossils--both nearly complete mandibles--belonged to two small species named Parapithecus fraasi and Propliopithecus haeckeli. Both have lower molars with anthropoidean features--in particular, they are broad and flat and have five cusps. (Miyamoto 197-220) In addition, Propliopithecus has the same number of the different types of teeth as other Old World anthropoideans, and the two sides of the lower jaw are solidly fused together in the front, another important characteristic of higher primates. My interest sparked by these tantalizing finds, I began doing fieldwork in the Fayum more than thirty years ago. Since then, my teams and I have succeeded in gathering hundreds of additional primate fossils, documenting the presence of eleven primate species in Oligocene deposits that are 30 to 33 million years old. The largest of these species, a close relative of Propliopithecus, is Aegyptopithecus zeuxis, a cat-size creature that appears to stand at or near the base of the family tree of the Old World monkeys, apes, and humans. We have collected several skulls and faces of Aegyptopithecus, as well as many bones from the rest of its skeleton (see "Dawn Ape of the Fayum," Natural History, May 1984). Many of the eleven Oligocene species have anthropoidean features, including the fused frontal bone, enclosed eye socket, lower jaws that are solidly fused together in the front, and the broadened and flattened lower molars with five principal cusps. In certain details, the upper molars also resemble those of more recent higher primates. Another anthropoidean characteristic is the manner in which the bony ring encircling the eardrum lines the auditory opening at the side of the skull. The eleven species are diverse in many respects, however. By 1985, I had accumulated enough evidence to say that they fell into several different taxonomic families or subfamilies. Given that so much diversity had evolved, I had to conclude that the common ancestor of all the higher primates must go back a long way in Africa. This was only the beginning, however, for in 1983 a Fayum site called Locality 41 had been discovered. Its exposed deposits came from a much deeper layer than those of

Cross-Cultural Transaction Management Essay Example | Topics and Well Written Essays - 1500 words

Cross-Cultural Transaction Management - Essay Example The Chinese space for individuals to make decisions appear to experience some direct influence from the government, the US has a liberal space for individuals to decide on many issues without a direct influence from the government. Politics around the social scene affects the cultural definition between the two countries with the Chinese culture being closely monitored and dictated upon by the strong political forces. The US democratic model is perhaps one of the most liberalized in the world making it one of the leaders in the most favored nation (MFN) in economic terms. In contrast, the Chinese political setting has been a socialist model that appears to be on the opposite end when compared to democracy, which depicts the setting as intolerant of democratic values and principles. Entering the Chinese market to set up shop is likely to be subjected to tight government bureaucracies than in the US. The government cronies found all over China may pose the greatest challenge to setting out investment due to their political inclination thereby affecting foreign investment. In addition, the highly patriarchal cultural system that is established in the political arena hinders the role of women in Chinese economy.The Motosuzhou management makes are defined by high political influence right from the organization structure. Considerations of the political influence that the Electrowide joint venture may have on the Chinese foreign policy of isolation based on its government structure come into the equation.... that the government has accorded Motosuzhou along side other 1000 companies in terms of liberal decision making, the role of Minister of Finance in the internal structure contradicts this assumption. Socialist model of the Chinese culture that emphasizes on understanding social attributes of the negotiation panel forwarded by Electrowide also consumed a lot of time that would otherwise have made progress in terms of the Americans’ estimation. Gender discrimination of female negotiator in the Electrowide team was not welcome from the Americans causing more frustrations. Negotiations failure between Electrowide and Motosuzhou Joint venture negotiations must contemplate the selection criteria of a partner for success in such negotiations, which were heavily compromised in the Electrowide and Motosuzhou case. During the negotiations, it was not clear what each partner was willing to obtain and offer as part of the joint venture. The Chinese team acted casually and did not utilize the time as the American team expected during the negotiations. Several assumptions were made by both parties which were not the exact positions of the intended entry strategies for the other parties. The accounting policies that the two firms applied in their operations were very different, for instance, in the treatment of manufacturing costs and their allocation in the books. For better performance of the joint venture, it is important that the internal operations of the firms are not very different for purposes of harmonizing the joint operations. As it also appeared in the disparities, Motosuzhou did not strictly comply with audit rules which are fundament in American corporate operations. Thirdly, communication is a basic necessity in the negotiations of a joint venture as well as during

Federal Financial Assistance and Wage Control Essay

Federal Financial Assistance and Wage Control - Essay Example Public outrage at the bailouts and the government's haste in pushing through the economic package was huge and unprecedented, with other entities and industries also clamoring to be bailed out in a similar manner. This objective of this essay is to discuss the morality of using tax funds to bail out ailing corporate entities to avoid them becoming insolvent and whether the government should initiate wage controls and strict accountability policies when providing such funds. With respect to wage controls, the questions to be answered are why and how much, rather to what degree government must step in to control and prevent the misuse and abuse of bailout funds. Each of these questions is addressed in the different sections which follow. By its very definition, a capitalist or free market economy is built on competition and "survival of the fittest", with little or no government intervention. The success or failure of a business is determined by the way business is conducted and how such businesses deal with fluctuating market forces. In the current economic meltdown, it is quite obvious that many business entities played "fast and loose" with sound economic principles in order to maximize profits by following unsound credit practices and with inadequate risk management or controls in place. By doing so, they've traded long-term growth and profitability for short-term gains in the years preceding the sub-prime mortgage crisis. The latter acted as the trigger which brought down the American economy to its knees and led to the collapse of numerous financial institutions. This has forced the government to step in to bail-out distressed companies at the cost of its citizen taxpayers. Is such an intervention justified Th e answer is clearly a 'no', given the unique nature of a capitalist economy. Businesses are required to compete with each other in the marketplace, having a free hand in the usage of capital, labor and other resources, because the end goal is profitability. A company or business entity which does not adhere to the principles of a free market economy, or tries to derive unfair advantages by misusing its powers, is doomed to fail in the long run. This is the natural consequence of unfair competition and the corporation must face the same in the natural order of the market. However, such large-scale failures of several companies at the same time can have a disastrous effect on the economy and society as a whole, hence it raises the question of government interference to avoid a catastrophe, a rationale advocated by the Bush administration and Congress in providing the $700 billion bailout in 2008. According to Ingham (2008), in a capitalist economy, the market is a self-regulating entity and the state (or government) role should be limited to providing infrastructure and resources which help in sustaining a free market economy and intervening under only exceptional circumstances where the market fails to correct itself. Is the current economic crisis such a circumstance Common sense would indicate this to be so, but the next concern would be to what extent should the state intervene to resolve this issue The answer to this concern can be summarized as

Low Back Pain Essay Example | Topics and Well Written Essays - 2000 words

Low Back Pain - Essay Example LBP has been shown to impair an individual's quality of life and his/her functioning. The magnitude of the burden of this problem in the society can be gauged from the fact that the point prevalence of LBP in the general population has been reported to be 15-30% while its lifetime prevalence can be as high as 60-80% (MTABC, 2004). However, the duration of symptoms of this disorder can be reduced viz appropriate and timely management and a study conducted by Waddell et al. elucidated that almost 67% of patients who had taken time off from work due to LBP has returned to work within 1 week and within 2 months almost 90% of the patients became symptom free (MTABC 2004). The etiology of LBP is diverse and it can be attributed to a multitude of causes including the degeneration of the lumbar intervertebral discs, spondylosis deformans (Luoma, et al., 2000 cited in Hangai et al., 2006), osteoarthritis, spinal stenosis, disc disease, dysfunction of the sacoroiliac joint, cancers, infection, organ-related pain, inflammatory arthritis (MTABC 2004), spondylolisthesis and compression fractures which commonly occur due to osteoporosis (Shirakihara, et al., 2001 cited in Hangai et al., 2006). Moreover, several studies have also reported factors such as weakness of the abdominal and back musculature (Van Tulder, et al., 2002), physical loading of the lumbar spine (Bahr, et al., 2004 cited in Hangai et al., 2006) and arteriosclerosis of the abdominal and lumbosacral arteries (Kauppila, et al., 2004 cited in Hangai et al., 2006). Interestingly, the role of psychological factors has also been implicated in the etiology of low back pain by some studies (Takeyachi , et al., 2003 cited in Hangai et al., 2006). The diversity of pathologies which can manifest as back pain often leads to difficulties in determining the underlying pathology and thus makes diagnosis challenging. Similarly, knee pain has also been known to be triggered by a variety of factors such as obesity, increasing age and trauma. Moreover, female gender has been proven to be a definite risk factor for knee pain. Other factors such as ethnicity, smoking, osteoporosis, knee-periarticular muscle strength and exercise have also been implicated in the aggravation of pre-existing knee pain by certain studies (Fukuda and Nakamura, 2002; Burger et al., 1996; Cheng, et al., 2000 cited in Hangai et al, 2006) but these findings have not been replicated by further studies and a causal relationship between these factors and knee pain is yet to be proven. LBP can produce a varying range of symptoms depending on the specific causes. The location and radiation of LBP varies with the pathology and some diseases may cause more back pain than leg pain while others

Capital Budgeting Essay Example | Topics and Well Written Essays - 1000 words - 1

Capital Budgeting - Essay Example It is imperative to note that, the expected spot rate appreciation or depreciation is determined by the expected inflation differential (Johnson, 92). RPP is the most useful tool of parity conditions considered in determining whether to accept or reject projects. It is fundamental to note that, RPP predicts the change in the exchange rate over time of the project. The illustration below indicates the most likely setup for NPVs. The table above indicates that all NPVs are positive numbers. It is essential to note that, foreign exchange threat can add, or annihilate the value of the project. Furthermore, a higher parent prospective foreign exchange, adds value to the project. Similarly, a higher project prospective foreign exchange destroys the value of the project. There are two kinds of NPVs. They include NPV from the project prospective, which does not contain foreign exchange risk. The other type is RPP NPV from the parent prospective. It does contain foreign exchange risk (Johnson, 65). In this circumstance, the project risk gives a slightly positive number. On the other hand, the RPP NPV parent prospective gives a bigger, positive number the foreign exchange risk is included (Johnson, 67). In this circumstances, the project can be accepted due to the positive number for the Canadian NPV from the parent prospective RPP. More over, the NPV with foreign exchange risk add more value to the project. The Crystal Ball report results, indicates that maximum and minimum scenarios of NPVs from the project and the parent prospective exists. Consider the following table, which illustrates the maximum scenarios for NPVs. It is imperative to note that, despite changes of variables, the maximum scenario for all the NPVs increased in positive values. In this case, the project could be accepted because NPVs are positive (Johnson, 69). More over, it is fundamental to note that RPP is critical in this course. The value of RPP is observed to be

Is Hamlet insane or merely pretending insanity Why Essay

Is Hamlet insane or merely pretending insanity Why - Essay Example The ambience is eerie and unnerving. The appearance of the ghost makes it even more mysterious and intense. In such a context it is difficult to maintain composure and remain sane and more so for a prince. A question about Hamlet’s insanity may be put in the mind of the audience due to the appearance of the ghost and Hamlet’s speaking to it. But it is offset by the earlier appearance of the same ghost in Elsinore, after the stroke of twelve, in front of Horatio, Bernardo and Marcellus and vanishing by the sound of the morning cock. Thus Hamlet is not uniquely mad to have witnessed the visitations of the ghost of his father. However as the play progresses, we come to know clearly that Hamlet is not mad. He has planned to feign madness in order to convince his enemy that he is unaware of the truth about his father’s foul murder by his uncle. In the beginning Hamlet is distressed and says: â€Å"O God! O God! How weary, stale and unprofitable seem to me all the use s of the worlds.† He seems to be undergoing tremendous depression. In Elizabethan age, hallucinations were often associated with acute depression. Thus, in the beginning, it might seem that out protagonist is going through a period of deep depression of un-proportionate amount and this justifies the visions of the ghost. This type of thought was prevalent in the Elizabethan era. The unexpected death of his father and the almost instant re-marriage of his mother to his uncle were causes good enough to cause mental and emotional instability and unhinge his mind. Instead we see that despite his deep grief, he immediately transforms into his own, normal, commanding self when the players enter: â€Å"You are welcome, masters; welcome, all. I am glad to see thee well.† Hamlet in fact can be viewed to possess an extremely logical and cunning mind. He himself is not sure about the truthfulness of the ghost’s pronouncements. To ensure that it is not a trap laid by an evil spirit, he plans to write a play about the truth that he believes about his father’s death and plans to play it in front of the King and the Queen. He also warns his close friend Horatio and asks him not to be alarmed at his â€Å"antic disposition†. He sets the trap and during the play he sets his eyes on his uncle to follow his reactions as the play unfolds. He hurriedly leaves. Hamlet is convinced and starts planning his next steps. Hamlet plays the role of his contrived madness very convincingly. Ophelia thinks that he has been â€Å"loosed out of hell. To speak of horrors he comes before me.† Polonius is also convinced that Hamlet is madly in love with Ophelia: â€Å"He knew me not at first; he said I was a fishmonger; he is far gone, far gone†¦Ã¢â‚¬  Hamlet is so clever that he even convinces his mother Queen Gertrude: â€Å"Alas how is’t with you†¦Ã¢â‚¬  The queen’s suspicion is even more aggravated when Hamlet again experienc es his father’s visitations in front of his mother. He also speaks to it and this convinces the queen that his son is â€Å"mad as the sea and wind†. In fact Hamlet’s manifestations of madness changes according to the persons he is which. He feigns madness in front of Polonius, Claudius, Gertrude, Ophelia, Rosencrantz and Guildenstern. But in front of Horatio, Bernardo, Francisco and the Actors in the play, he acts normally. However Polonius says that: â€Å"actions although strange, do not appear to stem from madness. Polonius

The Legal and Ethical Considerations of Marketing in America Essay

The Legal and Ethical Considerations of Marketing in America - Essay Example The American Marketing Association (AMA) is committed to promoting the highest ethical standards among its members. They are guided by the ethical norms that state that they should not harm; they should foster trust in the marketing system; and they should embrace ethical values (American Marketing Association, 2011). These ethical values include honesty, responsibility, fairness, respect, transparency and citizenship. It is unfortunate though that not all companies honor these guidelines set by AMA; thus, the existence of numerous marketing strategies which are illegal and unethical. Unfair and illegal marketing practices of corporations are those where it withholds pertinent information or misrepresents information. Example, a bank marketing officer was able to convince a client to apply for a loan because of the low interest rates but later on the client realizes that if he prepays the loan, he will have to pay a prepayment penalty. The information on prepayment penalty was deliberately withheld just to close the transaction. This could be considered an unfair marketing practice by the bank. One popular legal issue that most manufacturing companies are faced today comes in the light of America’s concern for the environment. The words â€Å"biodegradable† or â€Å"environmentally friendly† are often seen in the packaging of products nowadays. The Federal Trade Commission and the National Advertising Division (NAD), and the Council of Better Business Bureaus have come up with guidelines regarding the use of the word â€Å"biodegradable† as many companies are loosely using the term to promote a better image for their products and to convince the consumers to buy them because they are â€Å"environmentally-friendly† (Gekas, Harrold, & Dixon, 2010). The legal issues in the packaging, specifically the labeling of products is one aspect in the marketing strategy which must be considered by organizations.

Greece Crisis Essay Example for Free

Greece Crisis Essay Years of unrestrained spending, cheap lending and failure to implement financial reforms left Greece badly exposed when the global economic downturn struck. This whisked away a curtain of partly fiddled statistics to reveal debt levels and deficits that exceeded limits set by the eurozone.Greece was living beyond its means even before it joined the euro. After it adopted the single currency, public spending soared. Public sector wages, for example, rose 50% between 1999 and 2007 far faster than in most other eurozone countries. The government also ran up big debts paying for the 2004 Athens Olympics. And while money flowed out of the governments coffers, its income was hit by widespread tax evasion. So, after years of overspending, its budget deficit the difference between spending and income spiralled out of control. Moreover, much of the borrowing was concealed, as successive Greek governments sought to meet the 3%-of-GDP cap on borrowing that is required of members of the euro. When the global financial downturn hit and Greeces hidden borrowings came to light the country was ill-prepared to cope. Debt levels reached the point where the country was no longer able to repay its loans, and was forced to ask for help from its European partners and the IMF in the form of massive loans. In the short term, however, the conditions attached to these loans have compounded Greeces woes. How big are these debts? National debt, put at â‚ ¬300 billion ($413.6 billion), is bigger than the countrys economy, with some estimates predicting it will reach 120 percent of gross domestic product in 2010. The countrys deficit how much more it spends than it takes in is 12.7 percent. So what happens now? Greeces credit rating the assessment of its ability to repay its debts has been downgraded to the lowest in the eurozone, meaning it will likely be viewed as a financial black hole by foreign investors. This leaves the country struggling to pay its bills as interest rates on existing debts rise. The Greek government of Prime Minister George Papandreou, which inherited much of the financial burden when it took office late last year, has already scrapped most of its pre-election promises and must implement harsh and unpopular spending cuts. Will this hurt the rest of Europe? Greece is already in major breach of eurozone rules on deficit management and with the financial markets betting the country will default on its debts, this reflects badly on the credibility of the euro. There are also fears that financial doubts will infect other nations at the low end of Europes economic scale, with Portugal and the Republic of Ireland coming under scrutiny. If Europe needs to resort to rescue packages involving bodies such as the International Monetary Fund, this would further damage the euros reputation and could lead to a substantial fall against other key currencies. If Greece does not repay its creditors, a dangerous precedent will have been set. This may make investors increasingly nervous about the likelihood of other highly-indebted nations, such as Italy, or those with weak economies, such as Spain, repaying their debts or even staying inside the euro. If investors stop buying bonds issued by other governments, then those governments in turn will not be able to repay their creditors a potentially disastrous vicious circle. To combat this risk, European leaders have agreed a 700bn-euro firewall to protect the rest of the eurozone from a full-blown Greek default. Moreover, if banks in the weaker eurozone countries that are already struggling to find enough capital are forced to write off even more loans they have made something that becomes more likely if the eurozone economy falls deeper into recession they will become weaker still, undermining confidence in the entire banking system. Eurozone banks may then find it even hard to borrow, and therefore to lend, potentially sparking a second credit crunch, where bank lending effectively dries up, hurting the economy further. This problem would be exacerbated by savers and investors taking money out of banks in vulnerable economies, such as Greece, Portugal and Spain, and moving it to banks in safer economies such as Germany or the Netherlands. These potential scenarios would be made immeasurably worse if Greece were to leave the euro. The country would almost certainly reintroduce the drachma, which would devalue dramatically and quickly, making it even harder for Greece to repay its debts, and setting an even worse precedent. So what is Greece doing? As already mentioned, the government has started slashing away at spending and has implemented austerity measures aimed at reducing the deficit by more than â‚ ¬10 billion ($13.7 billion). It has hiked taxes on fuel, tobacco and alcohol, raised the retirement age by two years, imposed public sector pay cuts and applied tough new tax evasion regulations. Are people happy with this? Predictably, quite the opposite and there have been warnings of resistance from various sectors of society. Workers nationwide have staged strikes closing airports, government offices, courts and schools. This industrial action is expected to continue. How are Greeces European neighbors helping? Led by Germanys Chancellor Angela Merkel, all 16 countries which make up the euro zone have agreed a rescue plan for their ailing neighbor. The package, which would only be offered as a last resort, will involve co-ordinated bilateral loans from countries inside the common currency area, as well as funds and technical assistance from the International Monetary Fund (IMF). According to a joint statement on the EU Web site, a majority of the euro zone States would contribute an amount based on their Gross Domestic Product (GDP) and population, in the event that Greece needed support after failing to access funds in the financial markets. This means Germany will be the main contributor, followed by France. Although the announcement did not mention any specific figure, a senior European official quoted by Reuters said that the potential package may be worth around 20 billion euro (US$26.8 billion). However any European-backed loan package requires the unanimous approval of European Union members, meaning any euro zone country would have effective veto power. By the end of 2009, as a result of a combination of international and local factors the Greek economy faced its most-severe crisis since the restoration of democracy in 1974 as the Greek government revised its deficit from a prediction of 3.7% in early 2009 and 6% in September 2009, to 12.7% of gross domestic product (GDP). In early 2010, it was revealed that through the assistance of Goldman Sachs,JP Morgan Chase and numerous other banks, financial products were developed which enabled the governments of Greece, Italy and possibly other countries to hide their borrowing. This had enabled Greek governments to spend beyond their means, while meeting the deficit targets of the European Union and the monetary union guidelines. In May 2010, the Greek government deficit was again revised and estimated to be 13.6% for the year, which was one of the highest in the world relative to GDP. Total public debt was forecast, according to some estimates, to hit 120% of GDP during 2010, As a consequence, there was a crisis in international confidence in Greeces ability to repay its sovereign debt. In order to avert such a default, in May 2010 the other Eurozone countries, and the IMF, agreed to a rescue package which involved giving Greece an immediate â‚ ¬45 billion in bail-out loans, with more funds to follow, totaling â‚ ¬110 billion. In order to secure the funding, Greece was required to adopt harsh austerity measures to bring its deficit under control. Their implementation will be monitored and evaluated by the European Commission, the European Central Bank and the IMF. On 15 November 2010 the EUs statistics body Eurostat revised the public finance and debt figure for Greece following an excessive deficit procedure methodological mission in Athens, and put Greeces 2009 government deficit at 15.4% of GDP and public debt at 126.8% of GDP making it the biggest defici t (as a percentage of GDP) amongst the EU member nations (although some have speculated that Irelands in 2010 may prove to be worse). The financial crisis – particularly the austerity package put forth by the EU and the IMF – has been met with anger by the Greek public, leading to riots and social unrest. Despite the long range of austerity measures, the government deficit has not been reduced accordingly, mainly, according to many economists, due to the subsequent recession. Consequently, the countrys debt to GDP continues to rise rapidly. The Greek public sector continues to be bloated, but the government has been reluctant to make civil servants redundancies. Immigrants are sometimes treated as scapegoats for economic problems by far-right extremists. Why should Greece Default. Contagion. Unemployment. Haircuts. Seemingly endless summits of the Troika. The news coming out of Europe continues to be bleak and at the center of the storm is Greece, a Eurozone member drowning in its sovereign debt. In the shadow of the global financial crisis of 2008, the specter of a disorderly Greek default has spooked investors and policymakers alike. Greece, a country that contributes less than 3% of Eurozone GDP, is holding the international economy hostage. The uncertainty arising from ineffectual rescue packages, prolonged negotiations, and poor implementation of austerity measures is slowing foreign investment in the EU and increasing volatility on the exchanges. Decisive action is desperately needed, but when will it come? It is in both Greece and the Eurozone’s best interest for the inevitable to take place, now, before more rescue packages tie Greece to unachievable goals in the short run. Greece should default and begin the painful process of recovery outside of the Eurozone. The Greek crisis is testing the long-term viability of the euro experiment, an integrated European fiscal and monetary union, with supranational standards for spending and taxation, a common central bank, and a common currency. Ironically, a leading motivation for the establishment of the Eurozone was to protect Europe from U.S. financial disruptions, when, in fact, the reverse scenario seems of greater concern today. With the possibility of Greece‘s sovereign debt default, banks, bondholders, and private creditors – those with high levels of exposure and counterparty risk – are on high alert and shaping (if not delaying) negotiations. The EU makes up 20% of the global economy and constitutes the largest single market by GDP. In the Eurozone alone there are roughly 320 million people, comparable to the United States. But unlike the U.S. dollar, a national currency in a Federalist system, the euro is issued in states that maintain drastically different fiscal policies. How can policymakers realistically balance the interests of economic powerhouses like France and Germany, who contribute 50 percent of Eurozone GDP, with the interests and needs of the other fifteen member-states? The challenge before policymakers is to deepen European integration – the move toward political, economic, and cultural homogeneity – in order to sustain a Eurozone, while realizing when a line needs to be drawn in order to keep the whole thing from falling apart. From a political standpoint, Greece does not appear to be adjusting with sufficient speed to justify inclusion in the zone. Its government is under siege; tax evasion is endemic across all levels of society; and people no longer trust the government due to its inept handling of the budget, most notably in the cooked books of the Papandreou government. From an economic standpoint, the longer the Eurozone waits to act, the more Greece’s balance sheet deteriorates. Since 2008, economic output has fallen by 6.5% and debt as a percent of GDP has skyrocketed from 133% to 163% on a linear projection. Interest rates will continue to go up. And culturally, it is time to accept and acknowledge the societal differ ences that give Europe its charming vibrancy. Put another way, when the Germans go to bed, the Greeks go out to dinner. Some things will likely never change in Europe and the architecture of the Eurozone needs to account for that. Is there light at the end of the tunnel for Greece? In fact, recent economic history offers some cause for optimism. In December 2001, Argentina experienced the largest default on sovereign debt the world had ever seen. Like Greece, the default had been preceded by a decade of toxic economic policies, mismanagement, and corruption. A political crisis culminating in five different presidents over the course of two weeks exacerbated the economic situation. After accepting 22 billion dollars in aid through debt reduction deals and other channels by the end of 2001, Argentina had made little progress in the way of reform. The default was disorderly and disruptive. But after drastic moves, including unpegging the Argentine peso from the U.S. dollar, and a series of post-default investments from the international community, Argentina rebounded with remarkable success. Today, you are more likely to read about the burgeoning start-up culture and innovation centers of Buenos Aires than you are about bailouts and unemployment. There is a path f orward for Greece, but the time to default is now. Of course, innovation centers won’t hurt either. Whether you should follow a particular political or economic policy depends very much on the costs and benefits of following said political or economic policy. If the costs are higher than the benefits then of course you shouldn’t be doing it: this is just standard logic. We can go further too. If you’ve got two and only two unpalatable options then you should go for the one that has the least costs, is the least painful. Which is why Greece should default altogether on its debts and leave the euro. The standard mainstream solution for a country with Greece’s problems is exactly that: if the debt is too much to pay then don’t pay it. Better that some lenders lose their money than an entire population get screwed down into poverty to pay it back. That might not be quite fair on the lenders but tough: people before profit. And this has at least been partially done with the private sector holders of Greece’s debt all taking a 70% haircut last month. It ’s the second part of the standard solution (and yes, this is the entirely standard solution, the sort of thing the IMF recommends) is to devalue the currency. For if you don’t you’ve got to have years, decades even, of grinding austerity to try to regain economic competitiveness. But, of course, being in the euro, Greece cannot do this. So Greece must leave the euro. From the other side the standard objection is that Greece is still running a large budget deficit. This means that a default cannot be done for the government will still need to borrow money just to pay the police and the pensions. So while in theory a default and devaluation would be better than grinding austerity it just cannot be one. But this is to miss the point that Felix Salmon makes: Once you strip out Greece’s debt payments, the country’s primary deficit is pretty modest — just 1% of GDP or so. There are two different budget deficits. The one where we include all the interest that has to be paid and the one where we don’t that latter being the primary deficit. So, with a default then the interest won’t be paid. And the Greek Government will then have to cut spending (or raise taxes) by 1% of GDP because they cannot borrow any more. The point here being that this is less cuts than they’re already being told they have to do. Balancing the budget without having to pay the interest will be easier than what they’re being told they have to do to stay inside the euro. And devaluation will make recovery a great deal easier than decades of internal austerity. Thus it is actually in Greece’s own interest to default on the outstanding debts and to leave the euro and devalue the New Drachma. Not that they’ll have much choice about that last of course. WHY SHOULD GREEECE NOT DEFAULT. 1. Things could get really messy. One of the biggest problems about having a country exit the Eurozone is that this feat was neither planned for, nor has ever been attempted before. Who knows what can happen? For all we know, the situation could get even messy. If Greece gets booted out of the euro zone, theyd have to revert back to using the drachma and this alone is a daunting task. The Greek government would have to make sure that this process goes through without a glitch in order to prevent a flight of capital and social unrest. Now thats a tall order considering how Greece cant seem to come up with a stable government to begin with. 2. A bank run could take place in Europe. Even if Greece manages to reintroduce the drachma, a massive capital outflow from Greece is still very likely as financial institutions and investors wont be willing to put their money in such an unstable environment. With the rest of the PIIGS nations being touted as next in line to exit the euro zone, large amounts of money are likely to flow out of these countries as well. 3. It might lead to a euro zone break-up. Economist Nouriel Roubini pointed out that, unless Portugal and Ireland are able to restructure their debt successfully, they could wind up following Greece out of the euro zone. Although he mentioned that an exit by these smaller countries probably wouldnt disrupt the entire region or the global financial market, he also remarked that the existence of the euro zone would be in jeopardy once the bigger debt-ridden countries such as Spain and Italy think of leaving. On top of that, the ECB and several euro zone countries hold a part of Greeces debt in their balance sheets, which means that a Grexit and the debt default that could follow would force them to realize large losses. And if the finances of the ECB or Germany are in shambles, who would be left to save the euro zone? 4. Another Lehman tragedy waiting to happen? Several analysts are also worried that a Grexit would eventually lead to a Greek debt default, which could result in a credit freeze similar to what happened when the Lehman Brothers declared bankruptcy in 2008. At that time, banks were unable to absorb the losses and the chain of bankruptcies that followed, eventually leading to a financial crisis. This time around, another financial meltdown could take place if investors, banks, and other governments are forced to accept losses from holding Greek debt. Firewalls could collapse, banks could refuse to lend, spending could be constrained, and another global recession could be possible. Of course, Big Brother Germany is keen on preventing a full-blown crisis from happening, with analysts speculating that euro zones top economy would come up with a Grashall Plan or a Marshall Plan for Greece. Under this proposed mega-bailout package, Germany and the rest of the euro zone nations could pool billions of Euros in order to buy Greece more time. Then again, another bailout package could be accompanied by stricter austerity requirements, which Greece is neither willing nor able to carry out. With that, it seems that a Grexit isnt a matter of if, but rather a question of when.

The concept of truth and perception Essay Example for Free

The concept of truth and perception Essay The concept of ‘truth’ versus ‘perception’ can be observed in nearly all aspects of life. What is the truth these days; in newspaper articles, current affair shows or stories that a friend is telling you, is it truth or is it a version of the truth? The complexities inherent in this concept of ‘truth’ versus ‘perception’ will be discussed in relation to two texts; â€Å"Twelve Angry Men† by Reginald Rose, and,. Perception Vs Reality by Amit Sodha What is the key difference between ‘truth’ and ‘perception’, and which is more important? The truth is the reality of the fact while perception is the truth relative to oneself. The mind, the nature of the human being is different to everyone else’s. Everyone has lived different lives; experiencing different passions, interests, suffering and possessing different capabilities in knowledge. People are also brought up in different ways, belonging to different cultures and religions. This display of factors is what makes us who we are, affecting and contributing to our views and perspectives. When contemplating the ‘truth’, it is filtered through a wide variety of experiences, knowledge and emotions, resulting in ones perception. For example, an orange is orange, which is the truth. If you look at it through green glasses, it will appear green but the truth is that the orange remains orange. Perception is like the green glasses, filtering the truth relative to the person that is perceiving it. Twelve Angry Men is a really intriguing text that is clearly evident of the notion of truth and perception. It is about young boy on trial for the supposed murder of his aggressive father. The jurors have passed where evidence is laid out, exhibits shown, witnesses are heard, statements of the plaintiff and the accused are given, and the twelve jurors watch and listen attentively. Now, it is the job of the jury to reach a verdict as a whole; twelve to nothing vote either way, guilty or innocent. Twelve Angry Men highlights the importance of seeing things from more than one perspective. Twelve Angry Men is a play concerning 12 jury men who experience the difficulties of coming to a unanimous decision of murder . In this case the importance of seeing things from more than one perspective is relevant as a young boys life hangs in the balance. Through highlights this through Juror 3 and 10s narrow minded views and the ways in which they must be persuaded. Also it is seen by Juror 8, who feels it only right to have each side of the story broken down and discussed thoroughly. Rose uses Juror 3 to show that certain jurors are wrong and that if they are not open minded and put their personal prejudices aside they are bound to behave unacceptably and be viewed negatively. Juror 3s biases and stubbornness to be able to see things from the eyes of others really restricts him from doing justice and giving the boy the trial he deserves as does every human. Because of Juror 3s aggressive and stubborn nature he is unable to see that the defendant and his son are two different people and the importance of the trial and what it will mean to the 16 year old boy if found guilty. He thinks he is doing the world good by getting rid of one of them therefore cloudiness his vision and making it impossible to do justice where ones sees the truth differently through their experiencing which than confuses the truth, and in case of the law it will be unfair and a innocent death could have occurred. In the article of Perception Vs Reality by Amit Sodha it statues how Putting Things Into Context, Choosing Your Perception, Skewed Perceptions are faced by individuals in which we have the power to choose to responded and the power of choosing your truth in reality. Therefore even without knowing all of us are faced with obstacles which are known as the truth the way ones foreseen it is the perception which there can interprate into their lives, that means it build their emotion,morals and ethics.

Deception Is An Important Theme English Literature Essay

Deception Is An Important Theme English Literature Essay Sometimes deception can be unintended when the characters dont mean to lie, as in the play by Anton Chekhov, however in Henrik Ibsens play, the deceiver lies intentionally to protect the one she loves. The initial act of deception is shown when Nora deceives her husband and borrows money from Krogstad to save Torvalds life. She then continues lying to him intending to repay back the loan. Nora thinks it her duty to lie in order to protect her husband however this makes her vulnerable as a heroine to Krogstad who now blackmails her. This is an example of a dramatic irony since the readers and most of the characters except for Torvald, know what Nora has really done. Unlike her, Ranevsky, the main heroine of the Cherry Orchard doesnt deceive others but herself. Self- deception is a process of denying logical arguments and clear evidence. Here the themes of changing times and inability to accept change are explored. Madame Ranevsky wants to seek refuge in her childhood past from the despair of her present life, to remember the past and forget the present by refusing to face the reality. After spending five years abroad, she comes back to her beloved home. However she starts crying at the sight of [Her] nursery, [her] dear, beautiful nursery! she feels like a little girl. The nursery is a misnomer and it introduces a very nostalgic atmosphere, which brings up terrible memories of the death of Madames son, which she can not handle. She left Russia for Paris, to forget the memories of her husbands and sons deaths in the first place. When the time comes to auction the cherry orchard, Madam Ranevsky does not want to understand the seriousness of the situation. She does not believe that she can lose the orchard because of the luxury she used to live in, allowing herself everything and now she can not and does not want to accept the fact that she has to change that. The heroine realizes that she has lead a wrong lifestyle, she sinned and overspent, however she does not do anything to change that. She believes that everything will resolve itself. In a similar way, Nora believes that her act of deception was done for the greater good, since she was motivated by her husbands illness and had to save him and so she does not try to avoid any more lies and falsifications. As a matter of fact, she keeps deceiving Torvald, on small things such as eating macaroons and tiptoeing to listen at his door, because she feels the need to conceal the truth from her husband to save their marriage and this is the main source of the plot movement. Torvald in return deceives Nora by making her believe he loves her, he even says Do you know Nora, often I wish some terrible danger would threaten you, so that I could offer my life and my blood, everything for your sake. In reality he prioritizes his reputation before her and just regards her as his property. He only fantasizes about how perfect their life is, which is another example of self-deception. Its clear that their entire relationship is built upon lies and deception. Nora encourages her children to lie to Torvald when she says Dont talk to anyone about the strange gentleman. You hear? Not even to Daddy. By doing that she sacrifices her childrens innocence. Like Torvald, Madam Ranevsky tends to build a fence around herself by ignoring her emotions to create a happy world for herself. When she comes back home, she is restless, she says I cant sit still! I cant do it! [Jumping up and walking about in great agitation.] This happiness is more than I can bear. Laugh at me! I am a fool! My darling old cupboard! [Caressing a table.] My dear little table! . This makes her character ridiculous and from her kissing the bookcases and her reaction over her acquaintances deaths, we understand that she cannot handle anything real. As mentioned before, France was a place of refuge for Madame Ranevsky when she needed to escape and now that one of the most difficult stages of her life is over she does not seem to appreciate Paris. Once she is back to Russia she tries to forget her life there because her lover cheated on her and she is broke. Although later on she escapes from Paris to Russia. When she receives two telegrams from there she immediately tears them up without reading, and says They are from Paris. Ive done with Paris. However when she comes back to Russia, we see that she still hasnt forgotten her past in Paris, her unfaithful lover and the death of her child. Later on in the play, when she talks to Gayef she suddenly exclaims Look! Theres mamma walking in the orchardà ¢Ã¢â€š ¬Ã‚ ¦ in a white frock. There she is! One of the things about Madame Ranevsky hallucinating shows how disconnected she is from reality. Also, the composition and bearing of the hallucination reveal the nature of her disconnect ion. She seeks refuge in her past, her innocent childhood, and for her, the orchard is a symbol of her past- the fact that she fantasizes her mother in the orchard shows how disconnected she is from reality, confirming what she seeks. In a Dolls House, hope for freedom and independence motivates Nora to keep on lying and deceiving since we always tend to crave whatever we cant get. However she isnt the only character who lies and goes behind the back of her loved ones. Dr. Rank who is a family friend hides his true feelings for Nora from both Torvald and his wife. The only reason Nora actually finds out about how he truly feels, is when she tries to seek his help and she manages to see beneath the surface to his heart. This is how she finds out that he is secretly in love with her. On the other hand Dr. Rank seems to be very considerate and the only reason he deceives both his friends is because he tries to be a faithful friend to Torvald. He is trying really hard to be loyal but at the same time he can not stay away from Nora. Also he manages to expose Noras emotional immaturity and unwillingness to violate social conventions. Thus we cant be sure of whether his deception is intentional or not. Torvald, although it seems like he was the one deceived by both his wife and his friend, can be considered the one most guilty of the crime. Throughout the whole play, we see how he has deceived Nora into believing that their marriage is perfect, whilst in reality it was just his fantasy. The most important thing for him was to be able to keep up a proper appearance of moderation and appropriateness because the society he was brought up in is very judgmental and prejudicial. Like Ibsen, Chekhov presents a character who is also very concerned with looks and appearances. Lopakhin, an ex-peasant who is now a wealthy neighbor talks to the maid-servant, Dunyasha. Although he revels in his own economic situation, at the same time, he chides Dunyasha, by saying You are too refined, Dunyasha, thats what it is. You dress yourself like a young lady, and look at your hair! You ought not to do it, you ought to remember your place. He says that she is still of a low social standing. He is chiding her and telling her not to act like a lady, reminding her she is only the maid. This scene causes tension since there is this dichotomy as he is not quite comfortable with the new changes since he himself came from a peasant background. He almost contradicts what he is saying, which is another apparent example of self-deception. In conclusion, we see that deception is an important theme since its the main cause for characters to lose sense of reality and its also a catalyst of the climax. In the end of A Dolls House, Nora finally becomes more aware of how blind she was and walks out on her family to seek freedom and independence. Torvald on the other hand even at the end of the play, is still devoted to a mirage, an image of something that was never really there. At the end of The Cherry Orchard, Madame Ranevsky loses all her possessions together with the orchard and goes back to Paris, leaving behind everything that she thought she believed in. From this we learn, that deception is often triggered by the acceptance or disapproval of other people in society, since we tend to care too much about what everybody else thinks and thus try to blend in.

Nihilsmo, Fin de la Metafisica y Secularizacion en el Pensamiento de Nietzsche, Heidegger y Vattimo :: Spanish Essays

Nihilsmo, Fin de la Metafisica y Secularizacion en el Pensamiento de Nietzsche, Heidegger y Vattimo ABSTRACT: The purpose of this article is to articulate Nietzsche's criticism of morality which is centered in his experience of the death of God and the end of the subject of Modernity. Nietzsche considers nihilism as a nihilism of morality, not of metaphysics: it is morality and its history that has given rise to nihilism in the Occident. That is why Nietzsche separates himself from metaphysics as well as from morality and science, which differs from Heidegger's reasons. According to Heidegger, Nietzsche places himself in a primal position in the history of metaphysics, by which he means the consummation (Vollendung) of metaphysics' nihilism, which Heidegger tries to transcend. On the one hand, Heidegger shows us how Nietzsche consummates the Platonic philosophy by inverting its principles. On the other, Nietzsche consummates the metaphysics of subjectivity. Consequently he conceives the thought of the will of power and of the eternal recurrence as the two last forms of the metaphys ical categories of essence and existence respectively. On this ground it is possible to understand Nietzsche's and Heidegger's thought as the necessary first stage in the transition to Vattimo's postmodern philosophy and his notion of secularization. Si bien la discusià ³n en torno al nihilismo se remonta a la à ©poca del del idealismo alemà ¡n, tal como lo seà ±alara Otto Pà ¶ggeler oportunamente, el "nihilismo" es la nocià ³n fundamental sobre la que gira la meditacià ³n nietzscheana, asà ­ como el problema de su superacià ³n. (1) La conviccià ³n de la magnitud de tal tarea llamada en Ecce homo una "autoreflexià ³n de la humanidad" (Selbstbesinnung), se presenta como un "destino" dentro de la historia de la filosofà ­a occidental. (2) En noviembre de 1887 escribà ­a Nietzsche: "Lo que cuento, es la historia de los prà ³ximos dos siglos. Describo lo que viene, lo que no puede venir de otra manera: la llegada del nihilismo". (3) La llegada del nihilismo es "necesaria" porque: "son nuestros mismos valores habidos hasta ahora, los que conducen a à ©l, porque el nihilismo es la là ³gica llevada hasta el fin de nuestros mà ¡s grandes valores e ideales." (4) Por eso, el nihilismo es pensado desde Nietzsche, como nihilismo de la moral principalmente y no como nihilismo de la metafà ­sica, tal como postularà ­a Heidegger posteriormente. Por el contrario en Nietzsche el centro de la reflexià ³n lo ocupa la moral: "La moral, lo he dicho una vez, fue hasta ahora la Circe de los filà ³sofos.

The Joy Of Laughter :: Biology Essays Research Papers

The Joy Of Laughter Laughter is defined by dictionary.com as "the act of expressing certain emotions, especially mirth or delight, by a series of spontaneous, usually unarticulated sounds often accompanied by corresponding facial and bodily movements."(1) A thesaurus offers immense amounts of synonyms for the word "laugh", including giggle, cackle, chortle, snort, chuckle, crow, howl, snicker, snigger, convulse, titter, and the list goes on.(2) There are many words to describe laughter because it is such an integral part of our lives. The question of why we laugh may first be answered by looking at laughter in the purely physiological sense, which has been studied as gelotology. Then we can look at the effects of laughter, not just physically, but mentally and socially as well. After going over the oft-overlooked background of laughter, we can delve into the motivations behind our laughter. The actual flow of physical effects in the brain after hearing a joke are as follows. First, the left side of the cortex analyzes the words and structure of the joke. Then the brain's large frontal lobe becomes very active. This part of the brain has a lot to do with social emotional responses. After this, the right hemisphere of the cortex helps with comprehension of the joke. Then stimulation of the motor sections occurred, producing the physical responses of laughter.(3) The production of laughter is also highly involved with certain parts of the brain. For example, the central cortex has been found to have a negative electrical wave as a person laughs. The hypothalamus, part of the central cortex, has been found to be a main contributor to the production of loud, uncontrollable laughter. The combination of the set of gestures and production of sound is what makes up laughter. The actual muscles that create a smile are fifteen facial muscles which contract and stimulate the zygomatic major muscle, which basically lifts your upper lip. When the epiglottis half-close the larynx, the respiratory system is upset which causes air intake to occur irregularly, making you gasp. (3) In extreme circumstances, the tear ducts are activated, so that while the mouth is opening and closing and the struggle for oxygen intake continues, the face becomes moist and often red. Laughs can range in sound from virtually silent to noisy guffaws. The overall physical effects of laughter are that laughter stimulates the immune system. The experience of laughter lowers serum cortisol levels.

Free Essay on Nathaniel Hawthornes Scarlet Letter - Pearl as The Scarlet Letter :: Scarlet Letter essays

Pearl as The Scarlet Letter The Scarlet Letter by Nathaniel Hawthorne is a novel that shows the Puritanical way of life. Society does not accept the fact that Hester has committed the sin of adultery so they cast her out by making her wear a scarlet letter 'A' across her chest. Pearl is the product of Hester's sin, the scarlet letter is the product of society. This idea shows that Pearl is the scarlet letter and the scarlet letter is Pearl. There are many ways in which Pearl is shown to be as the scarlet letter because she is considered to be a part of nature, she is the physical connection between Dimmesdale and Hester, and Pearl is the reason that makes Dimmesdale and Hester to finally accept their sin and make their confession in front of society and the people within society. The reasons are listed in this manner because in the first one nature is a stronger force that human force, then comes her connection between Dimmesdale and Hester because she is the natural connection which is a link from the first on e to the second and also her being the reason Dimmesdale and Hester accepting the sin is last because there is a stronger connection between the child and the parents here which is linked from the previous reason. Pearl is a product of a natural act done by two human beings. This is the act of sex. But society considers it to be bad because there was no social contract between the parents to have that baby. But still its natural so it makes Pearl natural and cast out by society. Even her mother notices that it is society that seems to make Pearl the "evil" girl she is, "She knew that her deed had been evil; she could have no faith, therefore, that its result would be for good. Day after day she looked fearfully into the child's expanding nature; ever dreading to detect some dark and wild peculiarity, that could restore to the guiltiness to which she owed her being."( The Scarlet Letter. Nathaniel Hawthorne. 86) Here what is depicted is that Pearl's evil is from her mother's "guiltiness". So if Hester has none of that guilt that came from society then she would naturally be a good girl. Also, Pearl seems to be connected to nature because there is some contact where Pearl has some kind of commun ication with Pearl.

Langston Hughes Impact on an Era Essay

Langston Hughes contributed a tremendous influence on black culture throughout the United States during the era known as the Harlem Renaissance. He is usually considered to be one of the most prolific and most-recognized black poets of the Harlem Renaissance. He broke through barriers that very few black artists had done before this period. Hughes was presented with a great opportunity with the rise black art during the 1920’s and by his creative style of poetry, which used black culture as its basis and still appealed to all ethnicities. Until the Harlem Renaissance, poetry and literature were dominated by white people and were all about white culture. However, during the 1920’s, there was an explosion of black literature and, art poured from black artists and activists who represented black pride and individuality from the white dominance (â€Å"The Harlem Renaissance, Washington†¦Ã¢â‚¬  Online). This movement was sparked in the lower and upper Manhattan sections of New York City. Originally known as the New Negro Movement, it later became known as the Harlem Renaissance due to where it was birthed and seemed to be the area that it burned the most intense. One of the reasons why there was a rise in black culture in the Harlem area is due to the great migration of blacks to Northern cities during the early 1920’s. Racial discrimination, segregation, and interracial tension were also contributing factors to the Harlem Renaissance. Blacks were tired of being part of white America and wanted to break free and express not only black pride but, black culture as well. Langston Hughes emerged as one of the front men of the black movement of expression and art through the use of his poetic writing (â€Å"Harlem Renaissance† Online). Hughes wrote novels, plays, short stories, essays, and children’s books but, he focused most of his attention on poems. Most of Hughes better-known poems were written at the height of the Harlem Renaissance. Hughes was born in Joplin, Missouri, where he was raised primarily by his mother (Howes and Slovey 56). In 1921 Hughes enrolled at Columbia University in New York City. While in New York, Hughes became more intrigued with the rise of black culture in Harlem as opposed to his schoolwork. During the course of the next few years Hughes would make a name for himself with some of his famous  works such as the poem â€Å"The Negro Speaks of Rivers† and his book The Weary Blues (Howes and Slovey 58). However, he first gained recognition from some of his poems that were put in an anthology called The New Negro. He gained praise from not only blacks but, also from white supporters of the Harlem Renaissance (Strickland 31). He had made his way into the mainstream of great p oets and was making an impact for not only himself but for the black community with his creative poetic style (Wagner 386). How could one black man stand above all the other emerging black artists as much as Langston Hughes did? Hughes wanted to speak for the black community which he was so immersed in. He wanted to do it in a way though that the readers, especially blacks, were able to relate on a personal level to his poems. He did this by use modern forms such as free verse where he did not have to follow a pattern or use rhymes. He sought to make his poetry easy to understand but at the same time portray black culture with both realism and dignity (Howes and Slovey 59). He also wrote in black dialect and used black culture such as jazz to present his poems. He would not only use the freedom in his poems like jazz did but, he would also write to the rhythm and beat of jazz music which made it flow with a different style. He spoke of both the low times and the good times of the black community (Strickland 32). The style, the simplicity, and the culture that was presented in Hughes poems are what made him shine above other black artists. This is how one man went off on his own path and affected black literature as much as he did. Hughes affected the world of poetry during an era that was enriched with the rise black culture by using his own creative style. He drew not just the black communities praise but, the dominating white cultures as well. He has proven by his success to be one of the greatest influences during the Harlem Renaissance. He made a path for both the black community in general and the world of poetry on the whole. Works Cited â€Å"Harlem Renaissance.† MSN Encarta. 3 November 2004 . Howes, Kelly, and Christine Slovey, eds. Harlem Renaissance. San Francisco: Gale Group, 2001. Kovacs, Joe. â€Å"The Harlem Renaissance, Washington, DC and the Rise of Langston Hughes.† Literary Traveler. 3 November 2004 . Strickland, Michael. African-American Poets. Berkeley Heights: Enslow Publishers, 1996. Wagner, Jean. Black Poets of the United States from Paul Laurence Dunbar to Langston Hughes. Urbana: U of Illinois P, 1973.

Consulting Report of Solberri Hotel

Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels †¢Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service industry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most profitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may have some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained Appendix 2. 5), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. †¢Resignation of Finance Director. OPPORTUNITIES High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from †¢Competitors having state of art information technology can be market eaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. 12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expens e incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. â‚ ¬15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 5 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to September 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. 1. 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 million. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million 2. . Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 200 7 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service ind ustry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most rofitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may h ave some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained (Appendix 2. ), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. Resignation of Finance Director. OPPORTUNITIES †¢High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from Competitors having state of art information techno logy can be market leaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. â‚ ¬12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expense incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. 15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 65 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to S eptember 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. . 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 m illion. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million . 3. Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabil ities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T