Friday, May 31, 2019

Roswell: Fact or Fiction? :: essays research papers fc

In analyzing the hypothetical scenario(s) proposed by many UFO researchers concerning the alleged crash of an Alien spaceship in the unexampled Mexico desert July 2nd, 1947, I beg to question, whether our bureaucracy of a government could ever clamp shut an regular(a)t of such magnitude. This is the most scrutinized of all UFO cases. This story, even if partly true is the most significant event in human history, next to our own creation of course. The story is clouded in extensive figment and misinformation. Seeing as there are many version of this event, I will depict the most likely of these scenarios to have occurred according to eyewitness testimony. Now, in the lead I describe the sequence of events that unusual evening, I will first provide you a little background information concerning the state of New Mexico during this measure frame. In 1947, New Mexico was unique to the rest of the world. For instance, the 509th Composite Bomb wing (The crew which dropped the Atomic b omb Fat Man and Little Boy on the Japanese during WWII) was stationed at the Roswell Army Air Force Base. Secondly, Los Alamos nuclear facility, home to the Manhattan project was a short distance to the north of the crash site. Lastly, you had the atomic, radar, missile-testing facility of livid Sands and Alamogordo/Holloman Air Force Base only a short distance to the south (Randles 68). I believe, with such facilities congregated in one general stadium that from the Alien visitors viewpoint gathering information (Spying) on the most techno tenaciously advanced area on the planet would seem logical in 1947, seeing as the humans just finished killing off millions of their own (WWII plus Holocaust), maybe space was the next likely position for humanity to invade. Also, I found some circumstantial evidence pertaining to the Base radar at the armys 509th airfield outside the town of Roswell. basically the armys base radar had been tracking strange blips on the night of July 1, 1947 (Corso 8). This object maneuvered at such tall speeds and changed direction so sapiently that the radar operators said it was, No earthly craft. Interesting to note that through that night and the following day Army Intelligence was on high alert (Corso 8). That night a Mr. and Mrs. Dan Wilmot apparently sighted what they theorized to be a flying disk. They were sitting on their porch at 105 South Penn.

Great Aspects of Kentucky :: essays research papers

Great Aspects of KentuckyKentucky could just be the better(p) place in the midst of the Pacific and Atlantic Oceans to live. From Happy natal day to Abraham Lincoln, Kentucky has made a great contribution to history. Being the 15th state to join the marrow in 1792, Kentucky has brought forrader a number of grievous people and aspects to the United States. A look back over Kentuckys history will find items that American citizens use in every day life and may not know or even wonder how or where their existence came about. The only topic Holiday honor American mothers was bought on by a teacher in Henderson, Kentucky, Mary S. Wilson. In 1914 chairwoman Woodrow Wilson inducted the second Sunday of May as Mother?s Day. A variant sung daily across the U.S. was written in 1893 by sisters, Mildred and Patricia Hill, who were teachers in Louisville, Kentucky. The songs first intended use was to be a schoolroom greeting entitled ?Good Morning to All.? After a court battle, in 1934, the copyright was proved to belong to the Hill sisters and the song ?Happy Birthday? was published and copy written in 1935.Aside from inventions, Kentucky holds claim to a number of great American citizens. Two of the most important men during the American Civil struggle came from Kentucky. On February 12, 1809 Abraham Lincoln was innate(p) to Thomas Lincoln and Nancy Hanks, one of three children. He won the Republican caller vote and became president in 1860. He held his presidency through the American Civil War and reigned victory over Jefferson Davis, also a Kentucky native, to eventually remove slavery. Even with his give notice from Kentucky to Indiana at the age of seven, many Kentucky residents are proud to hold claim to such an upstanding American citizen. Jefferson Finis Davis was born between 1807 and 1808, his elders were fainthearted of the exact date, to Samuel Emory Davis and Jane Cook, being the youngest of ten siblings who lived in Todd County, Ken tucky. Davis was the Confederate president during the American Civil War, 1861 to 1865. In 1846 he resigned his House seat to repugn in the Mexican-American War with the Mississippi Rifles, a regiment he established, and served as the colonel. He went on to serve in several other political positions and blameless writing A Short History of the Confederate States of America two months before his death in 1889.Great Aspects of Kentucky essays research papersGreat Aspects of KentuckyKentucky could just be the best place between the Pacific and Atlantic Oceans to live. From Happy Birthday to Abraham Lincoln, Kentucky has made a great contribution to history. Being the 15th state to join the Union in 1792, Kentucky has brought forth a number of important people and aspects to the United States. A look back over Kentuckys history will find items that American citizens use in every day life and may not know or even wonder how or where their existence came about. The only Nation al Holiday honoring American mothers was bought on by a teacher in Henderson, Kentucky, Mary S. Wilson. In 1914 president Woodrow Wilson inducted the second Sunday of May as Mother?s Day. A song sung daily across the U.S. was written in 1893 by sisters, Mildred and Patricia Hill, who were teachers in Louisville, Kentucky. The songs first intended use was to be a classroom greeting entitled ?Good Morning to All.? After a court battle, in 1934, the copyright was proved to belong to the Hill sisters and the song ?Happy Birthday? was published and copy written in 1935.Aside from inventions, Kentucky holds claim to a number of great American citizens. Two of the most important men during the American Civil War came from Kentucky. On February 12, 1809 Abraham Lincoln was born to Thomas Lincoln and Nancy Hanks, one of three children. He won the Republican Party vote and became president in 1860. He held his presidency through the American Civil War and reigned victory over Jefferso n Davis, also a Kentucky native, to eventually abolish slavery. Even with his move from Kentucky to Indiana at the age of seven, many Kentucky residents are proud to hold claim to such an upstanding American citizen. Jefferson Finis Davis was born between 1807 and 1808, his elders were unsure of the exact date, to Samuel Emory Davis and Jane Cook, being the youngest of ten siblings who lived in Todd County, Kentucky. Davis was the Confederate president during the American Civil War, 1861 to 1865. In 1846 he resigned his House seat to fight in the Mexican-American War with the Mississippi Rifles, a regiment he established, and served as the colonel. He went on to serve in several other political positions and finished writing A Short History of the Confederate States of America two months before his death in 1889.

Thursday, May 30, 2019

Braveheart :: essays research papers

BraveheartBraveheart is a realistic portrayal of the powerstruggle amidst England and Scotland. The film starts byshowing William Wallace as a boy, losing his get toEdward the Longshanks, pouf of England. William Wallaceleaves Scotland with his uncle to live with him. Yearselapse and William Wallace returns to Scotland, the place ofhis birth, to take over his familys farm. Wallace finds hischildhood have it off, Marin, and marries her secretly. When one ofthe feudal lords kills Marin for striking a guard, Wallacethen begins a disintegration against the English. Wallaces army of Scots march against the Englisharmies time and again. Until William Wallace is captured byRobert the Bruces fathers plan and is sent to London beforeKing Edward the Longshanks. Wallace faces trial for talltreason from which he is found guilty. Wallace is then giventhe choice of confessing or being purified. To show hispatriotism to Scotland Wallace chooses not to confess.Therefore Wallace experiences a slow, painful final stage as hislast word Freedom still rings in the ears of the audience,as they cut his head off. The last scene in Braveheart isthe battle between the English and Scottish armies where theScots win their freedom.The theme for Braveheart is betrayal. It is shows allthrough the movie. The Princess Isabelle betrays her husbandand country of marriage by helping and falling in love withWilliam Wallace. Whereas it is the same when Robert theBruce betrays William Wallace by giving his word to unitetheir clans against the English then turns to Edward theLongshanks for a title, land and more money. A final act ofbetrayal is that of father against son. The act is Robertthe Bruces own father plans against this son and plays apart n getting William Wallace captured for the King.Two of the most interesting characters to analyze isEdward the Longshanks and the Princess of Wales. Edward theLongshanks seems to have no weakness. Though through themovie, in my opinion, I think he has one and that isunderestimating William Wallace and Scotland.

Violence in American Pop Culture :: Essays Papers

Violence in American Pop Culture Societies are founded upon traditions, morals, and a brand of commonly accepted ethnical values. Such customs are important because they set the tone for centuries and decades that follow. In the United States, violence is widely accepted as a central component of American lifestyle and culture. From contemporary gay bashing to explosives and weaponry in video games and movies, violence figures prominently in many aspects of American entertainment and pleasure seeking. History provides ample evidence and examples that American institutionalized violence discriminates against no man, woman or child. For example, Native Americans were relentlessly and violently nude of both their resources. Enslaved African persons were brought thousands of miles from their homelands to cultivate and enrich European interest in America. Among the hardships of simply adjusting to this New World, slaves were also sentenced to death through lynching if they refus ed to be subjected to raw(a) rules. Over the past two centuries we have witnessed a Civil War, two World Wars, the Oklahoma bombings, the Columbine massacre, and the tragic events of September 11th, to name only a few of the past and recent tragedies. All of the tragedies have claimed the lives of thousands of our fellow men.History repeats itself and what began as a means of instituting territory has today permeated the entire culture and has seeped into all types of media. Entertainment is supposed to entertain, but movies, video games and music most often depict a life of bloodshed and carnage. Al Pacino is praised for his roles in Scarface and The Godfather series, exploiting the life of an Italian mafia family that is well known and respected in the world of organized crime. Admiration is given to rap artists like Notorious B.I.G., who rapped about money, power and inner impropriety. Another street legend is Tupac Shakur, whose life is a prime example of the thug life. After surviving several gang related shootings, he eventually fell prey to a glamorized thug life, murdered in a drive-by shooting on the glitzy streets of Las Vegas, Nevada. In everyday scenarios young children are allowed to entertain and instill themselves with video games like Grand Theft Auto, where the thief runs through the city killing citizens, having sex with prostitutes, and robbing people at gunpoint.

Vladimir Nabokovs Lolita - The Shocking Lolita Essay examples -- Nabo

The Shocking Lolita Vladimir Nabokov wrote Lolita not only to create controversy and blast the public, but also for money and fame. Nabokov wrote Lolita to get attention. This novel engages moral dilemmas that are sensitive to its readers. The sensitive subject matter created such a controversy that it perpetuated gross revenue and made it a bestseller, and he knew that if he wrote a book shocking and personal enough he would become wealthy. The novel speaks as though it were a lived event which adds to the intensity of Humberts runs and to the shock of the reader. The delivery and depth of his thoughts make one think this is a true story, and the effect can be that the reader encounters the action even more appalling. Simon Karlinsky once declared that the publication of Lolita in America and England signaled the final collapse of the Victorian moralistic censorship that had persisted in Western countries bank the end of the 1950s(Iannone 54). Alternatively, Nabok ov states, Lolita has no moral in tow. For me a dress of fiction exists only insofar as it affords me what I shall bluntly call aesthetic bliss, that is a sense of being somehow, somewhere, connected with other states of being where art (curiosity, tenderness, kindness, ecstacy) is the norm(314). This statement is taken from the epilogue that he wrote after the novel to state his intentions. The work has no other meaning than to shock the reader. None. Why would Nabokov bother taking the time to write a three hundred page novel estimable for the sake of aesthetic bliss(314)? Although he dismisses it entirely, moral issues arise quickly in this novel. The first moral is that by the age of twelve, one American female child has already been hop... .... With the new release Nabokov will get more of what he wanted. On the INTERNET if one searches for the key word Lolita, the reader will find several thousand locations in which the word Lolita is synonymous with pornograp hy. Whether or not this is how Nabokov wanted to be remembered, Lolita has its place on the INTERNET. Though we may never be what drove Nabokov to write Lolita, it is still a great novel though immoral. Works Cited Boyd, Brian. The Year of Lolita. The New York Times Book Review 8 Sept. 1991 1-33. Iannone, Carol. From Lolita to wanton Christ. Commentary Vol. 89, n. 1, Jan. 1990 52-54. Lolita and the Critics. New Republic Vol. 139, 27 Oct. 1958 3. Nabokov, Vladimir. The Annotated Lolita. New York Vintage Books, 1991. Schuman, Samuel. Vladimir Nabokov, a Reference Guide. Boston G. K. Hall, 1979.

Wednesday, May 29, 2019

The Contributions of Frederick Douglas, William Apess, Sarah Margaret F

The Contributions of Frederick Douglas, William Apess, Sarah Margaret Fuller, and Sojourner Truth As has been noted before, when we look at the authors of The Declaration of Independence, we are quite aware that the document was written in the interest of the nation who were there. The wealthy, white, landowners make up the Constitution to fit their needs and exclude e very(prenominal)one else. The people nigh notably left without rights are African Americans, Native Americans and Women. These minority mathematical groups organise a bond with each other because they were outside the dominant group. These groups of people helped gain their strength and voice through speeches and conventions with each one using the very words of the Constitution as their platform. During this time powerful voices spoke out like Frederick Douglas, William Apess, Margaret Fuller, and Sojourner Truth, who didnt have the advantage of a formal education, but still lay out a way to become educated or taught themselves. A brilliant speaker, Abolionist, womens rights advocate,journalist and newspaper editor, social reformers and race leader, Frederick Douglas was unquestionably one of the most prominent pitch blackness leaders of the nineteenth century and one of the most eloquent orators in American public life(1751). Frederick Douglas was basically self-taught and his voice became so polished that he was in fear of losing the audience of his own race to the cause of freeing slaves because he sounded too white. Douglas was asked to speak at a Fourth of July jubilation and in his speech What to the Slave Is the Fourth of July? He expresses that it is Your National Independence, and of your political freedom(1819). He reaches out to his audience by showin... ...ither has been answered fully(2022). This is the backbone of most of the representative material. It is based on spiritual and Christian thought and that people are created and given their rights by God. Since most of these authors werent taught in the classical sense the leger was a useful and sometimes life altering tool. Hopefully, we will learn more about these representational authors so that as a collective group of Americans we can fully understand their impact on the growth and development of our country. Works Cited The Heath Anthology of American Literature Copyright 1998 by Houghton Mifflin Company. Issues in womens liberation movement Copyright 1998,1995,1990 by Mayfield Publishing Company Owl-eyes Biography and Etexts http//owleyes.org/douglas.htm Bright Moments http//brightmoments.com/blackhistory/nsotruehtml

The Imperfect Creator in Mary Shelleys Frankenstein :: Frankenstein essays

The Imperfect Creator in Frankenstein Often the actions of children are reflective of the attitudes of those who raise them. In the novel Frankenstein by Mary Shelly, Dr. Victor Frankenstein is the sole existence that can take responsibility for the creature that he has created, as he is the scarce one that had any part in bringing it into being. While the actions of the creation are the ones that are the illegal and deadly their roots are traced back to the flaws of Frankenstein as a creator. Many of Frankensteins faults are evident in the appearance of his creation. It is described as having yellow skin, dark black hair, eyes sunk into their sockets, and black lips (Shelly 56). Frankenstein, having elect the parts for his creature, is the only one possible to blame for its appearance. Martin Tropp states that the monster is designed to be beautiful and loving, it is loathsome and unloved (64). Clearly it is Frankensteins lack of foresight in the creation proce ss to allow for a creature that Frankenstein had selected his features as beautiful, (56) to become something which the very sight of causes its creator to say breathless horror and disgust fill my heart(56). He overlooks the seemingly obvious fact that ugliness is the natural result when something is made from parts of different corpses and put together. Were he thinking to a greater extent clearly he would have noticed monsters hideousness. Another physical aspect of the monster which shows a fault in Frankenstein is its immense size. The reason that Frankenstein gives for creating so epic a creature is his own haste. He states that ,As the minuteness of the parts formed a great hinderance to my speed, I resolved, contrary to my first intention, to make a being gigantic in stature ... (52). Had Frankenstein not had been so rushed to complete his project he would not have had to deal with such a physically intimidating creature. Tropp however states that ambition may ha ve had a role in the size of the creation. He says that the creation is born of Frankensteins megalomania (81). This may thusly be true as the inventor states A new species would bless me as its creator and source many happy and excellent natures would owe their being to me (52).

Weight Management Essay examples -- essays research papers

Weight management has been thought of as only weight down passage by many. Weight management covers on the whole aspects of attaining and maintaining optimum weight for a wellnessy lifestyle. Health professionals now realize that prevention of weight gain as well as weight loss and improving health status are important goals. These goals must be individualized for success. At the outset of treatment, the patient and health care provider should talk of and agree upon goals. The goals must take into account the food habits, exercise behaviors, psychological outlook and support systems of the individual. Realistic expectations, short- and long-term, may be promoted by a word of honor of a healthy weight versus an ideal body weight. Features of weight management interventions may include behavior modification, dietary principles, energy balance components, and a arduous food plan. In order to create a behavior modification plan that will be successful for the individual, identifyi ng cues, responses and consequences of consume behaviors is necessary. Control of eating behavior, corporal activity, emotional, social, and psychological health must all be analyzed and interventions applied. Behaviors related to problems with intake and expenditure of energy must be specifically defined. Recording and analyzing eating and exercise behaviors to develop strategies aimed at learning new behaviors are essential.Dietetic practice in weight management is complex and challenging. Assessment of weight and health should guide weight management goals and outcomes. The weight and dieting history should include age of onset of weight problems, number and types of diets, exercise history, possible triggers to weight gains and losses, and an seize range of weight change. The frame Mass Index (BMI) is considered the standard measurement for weight status. The BMI is estimated by weight (kg) divided by height (m2). A BMI of 25 29 is considered overweight and some weight loss is recommended. There is debate surrounding how much weight loss should be attained. In considering a weight management plan, it is necessary to incorporate each of the following realistic goals (weight loss average of to 1 pound per week)energy intake limits related to the energy payoff of the individual (the Basal Metabolic Rate (BMR) + activity level shoul... ...he obesity epidemic. Science. 19982801371-1374. 2. Willett WC, Dietz WH, Colditz GA. Primary Care Guidelines for healthy weight. New England Journal of Medicine. 1999341427-434. 3. National Task strong suit on the Prevention and Treatment of Obesity, National Institutes of Health. Very low-calorie diets. Journal of the American Medical Association. 1993270967-974. 4. Stein K. High-protein, low carbohydrate diets Do they work? Journal of the American Dietetic Association. 2000,100760-761. 5. Jeffery RW, Drewnowski A, Epstein LH, Stunkard AJ, Wilson GT, Wing RR, Hill DR. Long-term maintenance of weight loss current sta tus. Health Psychology. 20001(Suppl)5-16. 6. Byfield C. A lifestyle physical activity intervention for telling sedentary women Effect on cardiovascular disease risk factors. American College of Sports Med Indianapolis IN 2000. 7. Rosen JC. Improving body image in obesity. In Thompson, JK, ed. Body Image, Eating Disorders and Obesity. Washington, DC American Psychological Association 1996 425-550.8. Nix S. Basic Nutrition & Diet Therapy, 12th edition. 2005 268-287.9. Martini F. Fundamentals of Anatomy & Physiology, 6th edition. 2004 928-964.

Public Outcry and Acceptance to Darwins theory of Evolution Essay

On Thursday 24 November 1859, Charles Darwin published and made available to the western earth his magnum opus, On the Origin of Species, a compilation of some twenty plus years of research regarding the human biology and its advancement. Darwin proposed in Origins that all life slowly evolved, biologically mutated over a period of time, to its present day form. Expanding on forward research in the field of genetics, Darwin theorized a survival of the fittest complex which coerce basic animals to evolve new advanced traits to survive in their respective environments, in the process theorizing that humans also evolved from lesser creatures. Darwins theory of evolution was beseeming with critical response, mainly negative, at the time of its inception, but slowly gained support in the years following. In particular at the time of Origins publishing, the western area was undergoing a religious revival of sorts thanks to the rise of Evangelicalism. Due to conflicts of interest betwe en Darwins proposed theory of evolution directly contradicting the biblical theory of creationism, much careen was generated by the publication of Origins. Creationism which stressed the belief of one omnipotent God creating the world and all its inhabitants was the most widely spread belief during this time period. crosswise the western world different assortments of clergymen attacked, or surprisingly stood in solidarity with the theory of evolution. This brings into question, why were the responses to evolution so disparaging? This can be explained that due to prior established beliefs and knowledge of respective individuals, the reaction to the theory of evolution was at first quite negative, but overtime became more and more accepting as people grew t... ...tarted rationalizing their emotions, the clarity of evolution dawned upon their eyes, and of acceptance of new foreign ideas. Here was a thing that not all could explain the mysteries of life, but also parcel out as test imonial to the foolishness of pride. Evolution was a hallmark in the relations between science and religion, as the two sides realized neither was try to undermine the other, and even in some cases joined in union to promote humanities advancement. The story of evolution is significant to history not only because of its scientific achievements, but also the gap it bridged between the scientific and religious community, and the lesson it taught that acceptance of new ideas does not have to mean the end of prior beliefs altogether. No other scientific revolution has generated as much human controversy and unity as Charles Darwins theory of evolution.

Tuesday, May 28, 2019

Character Study : Harry Hobson :: English Literature

Character Study Harry HobsonHarold Brighouse Although a prolific and popular playwright andnovelist during his lifetime, the reputation of Harold Brighouse todayrests intimately entirely on his play Hobsons Choice. Born in Eccles nearSalford on 26 July 1882, his mother was a teacher and his father wasin the cotton business. Despite gaining a scholarship to ManchesterGrammar School, Harold was not a keen student at seventeen he leftschool to start work in the textile industry.Henry Hobson, a boot shop owner in Salford, not a very successful oneeither. Henry has three children, every(prenominal) girls, Maggie, who is thirty,Alice, twenty-three and finally Victoria, known as Vickey who istwenty-one. All of the girls work for Hobson, but do not receive anyform of wage. Hobson treats the three girls with no jimmywhatsoever we understand that this is true by the tone and aggressionin Hobsons voice when he interacts with them.He is the most hypocritical man in Hobsons Choice this is pr ovenby the change in his tone and body language when Ms Hepworth, a highclassed customer, enters his shop. When Hobson greets Ms. Hepworth heimmediately rushes to suck up up a chair for her to sit on. Ms Hepworthquestions Henry Hobson about who made her shoes, which she hadrecently purchased in this shop. Hobson does not give her a straight decide so Ms. Hepworth uses a different, more violent approach toreceive an answer. Maggie immediately calls, tubby while pulling upthe trap door from the pavement referring to Tubby Wadlow, a shoemakerwho works for Hobson. Henry assures Ms. Hepworth that he isresponsible for all work done in the premises. Tubby is also asked ifhe made the boots to which he replied, They are Willies making,those. Ms. Hepworth then asked who Willie was, when Henry Hobsonrushed to answering by saying that he is capable of making the mansuffer for it.

Character Study : Harry Hobson :: English Literature

Character Study Harry HobsonHarold Brighouse Although a prolific and best-selling(predicate) playwright andnovelist during his lifetime, the reputation of Harold Brighouse todayrests almost entirely on his play Hobsons Choice. Born in Eccles nearSalford on 26 July 1882, his mother was a teacher and his father wasin the cotton business. Despite gaining a scholarship to ManchesterGrammar School, Harold was non a keen student at seventeen he unexpendedschool to start work in the textile industry.Henry Hobson, a boot shop owner in Salford, not a very palmy oneeither. Henry has three children, all girls, Maggie, who is thirty,Alice, twenty-three and finally Victoria, known as Vickey who istwenty-one. All of the girls work for Hobson, but do not receive whatsoeverform of wage. Hobson treats the three girls with no respectwhatsoever we understand that this is true by the tone and aggressionin Hobsons voice when he interacts with them.He is the most hypocritical man in Hobsons Choice t his is provenby the change in his tone and body language when Ms Hepworth, a highclassed customer, enters his shop. When Hobson greets Ms. Hepworth heimmediately rushes to pull up a chair for her to sit on. Ms Hepworthquestions Henry Hobson about who made her shoes, which she hadrecently purchased in this shop. Hobson does not give her a straightanswer so Ms. Hepworth uses a different, more violent approach toreceive an answer. Maggie immediately calls, stumpy while pulling upthe trap door from the pavement referring to Tubby Wadlow, a shoemakerwho works for Hobson. Henry assures Ms. Hepworth that he isresponsible for all work done in the premises. Tubby is also asked ifhe made the boots to which he replied, They are Willies qualification,those. Ms. Hepworth then asked who Willie was, when Henry Hobsonrushed to answering by saying that he is capable of making the mansuffer for it.

A Separate Peace :: essays papers

A Separate Peace A Separate Peace is a coming of age novel in which Gene, the main character, revisits his high school and his traumatic teen years. When Gene was a teen-ager his best friend and roommate Phineas (Finny) was the school principal athlete of the school. Gene was only a mediocre athlete and is al trends jealous of Finny. They form a Super Suicide monastic order of the Summer session which includes jumping from a tree into a river as its initiation. Eventually, Finny falls from the tree fracturing his leg. This leads to Finnys death and Gene struggle to find himself. The relationship between these dickens boys proves my thesis statement a friend and an enemy can be one in the same.The characters of Gene and Finny are as opposite as apples and oranges. Finny isa free spirit and Gene enjoys structure. The main problem though, is that Finny hassome kind of hold(9) over Gene. The fact that Gene lets Finny talk him into thingstroubles Gene. Therefore, when they form the Suicide Society and jump out of the tree itbecomes destructive for Gene because he is cutting himself off from the structure thatnormally runs his life. With all the time commitments to Finny and the society Genesgrades plummet. He forms the idea that, Finny had deliberately set out to wreck mystudies.(45). Since academics are so important to Gene he begins to resent Finny and hefeels that he has to amount revenge. This anger leads to Gene jouncing Finny out of the tree.The tone of this story changes frequently. Its changes are bases mostly on Genesfeelings toward Finny. Gene often has feeling of resentment and uncertainty about their friendship this creates a negative tone. Finny on the other hand seems to make the moodsomewhat whimsical. For example he beets the school swimming record without ever practicing. He also sneaks away to swim and sleep by the ocean. The tone in this novelis important to the theme because Gene longs to have that same whimsical way that Fi nnyhas. However, Gene can never accomplish this and he becomes very cynical at times. Symbolism is also very important to this novel. An example of this is the war it symbolizes several(prenominal) different things. Finny explains to the head master that Were allgetting ready for the war(15)when asked why he was late for dinner.

Monday, May 27, 2019

Interpreting the Quote “Always Look on the Bright Side of Life” Essay

Always look on the bright side of life.When I read Always look on the bright side of life, the song of the same title immediately got stuck in my head. The song is great and so are its lyrics. Although it was originally featured in Monty Pythons comedy movie Life of Brian, it is also commonly played at funerals. When people are having a hard time, it is very important to never let them forget that there will be better times again soon. The melody and the words often help me to get th rasping a rough day or to forget a bad mood too. In the following essay, I will discuss the benefits of using this quote as a personal motto.For many people, including me, the quotation Always look on the bright side of life is also a personal motto. Everyday, you are surrounded by many pessimistic people and negative environments. It is your own choice whether you are going to be happy or not. People tend to blame opposite people for their unhappiness, which is ridiculous. It is very important that you are able to be happy on your own and that you do not need separates to make you that. As for myself, I try very hard to live my life like an optimist and to not let other peoples moods and negative thoughts influence me in a negative way. Of course, I am not optimistic about every single situation.However, generally, I am making efforts in keeping my chin up and not letting others influence my good mood in a bad way. On the contrary, it is not difficult for me to be cheered up by other people when I am grumpy or disheartened. There are some days of course on which I wish everyone not to fool my way for his or her best because I know for sure that otherwise I would break out in tears or have an flare-up of rage. However, I can say that I am a happy and well-balanced person most of the time.Choosing to see things in life positively is a view of life. Mankind strives to achieve happiness and it should always be our first goal but many people fail to reach this goal by seeing things negatively the whole time and being upset about things they cannot change anyway. Always looking on the bright side of life is the break to happiness.

Saturday, May 25, 2019

Online information system Essay

1. INTRODUCTION1.1 BACKGROUND OF THE STUDYFuture universitys training social whole deliver training services to both novice and professionals in different areas of information technology core courses, arts and design, programming languages as well as basic studies manually. Interested individuals enroll in any of the available courses only by going to the universitys training unit. Also there is no content of advertising these services which is vital to those in search of it, somehow there is need for the training center to have a fully functional system that serve the same purpose online 24/7.1.2 SITE OF THE PROJECTFuture University1.3 NATURE OF THE PROJECTWeb based industriousness1.4 SIGNIFICANCE OF THE STUDYThe entailment of the study is that it pull up stakes help in designing a system that get out tender services online to subscribers of training programs. The training unit can likewise make use of the outcome of this study for the purpose of providing effective and con venient services to its subscribers. When completed the system will provide the following benefits 1.It will provide user convenience since it can be accessed from anywhere around the globe through the internet. 2.It will serve as a means for the trainers to handle macroscopical number of trainees from different locations around the world at a time. 3.The proposed system will provide an advertisement functionality for the global reach of the training unit. 4.The online services will also provide easy access to information.2. PROJECT DESCRIPTION2.1 PROBLEM STATEMENT2.1.1General problemThere is no online system by which the training unit can advertise its training services in order to gain recognition worldwide. And the records ofinformation is done manually.2.1.2 Specific problem1.Registration of trainees is done manual thus requiring large amount of paper work. 2.Bulk amount of papers occupy most of the office space and cost a lot of money. 3.The training unit has no means of crea ting awareness apart from the universitys medium. 4.There is no proper scheduling of courses and this may cause trainees dissatisfaction.2.2 PROJECT OBJECTIVES2.2.1 General ObjectivesTo develop a web application that will deliver the same services in more efficient and effective way.2.2.2 Specific Objectives1.To include a database system within the application to computer memory retrieve, manipulate, secure and save data. 2.To add interactive graphics to support awareness creation on the web as e-advertisement. 3.To develop a module that will provide a convenient scheduling for the training.2.3SCOPE AND LIMITATION1.The proposed system will cover the issues of awareness by including advertisement functionality. 2. Subscribers of the training and the trainers supposed to have a forum for further discussions but unfortunately that will not be covered in this project. 3.This project will not cover the payment system.2.4 methodological analysisTraditional waterfall model.3. PROJECT MANA GEMENT3.1 Resources Requirement for DevelopmentFor the purpose of developing the system the following resources are required3.1.1Hardware requirementsThe hardware needed for the knowledge process is a computer system with the following specificationHardwareDescriptionProcessorCore i5Random Access MemoryRAM 6GBHard disk 750 GB3.1.2 Software requirementsSoftwareSpecificationServerII expressServer stance Scripting LanguageAsp.netIDEVisual studio 2013 professional for web3.2 Resources Requirement for Deployment3.2.1 Hardware requirementsThe hardware needed for the deployment process is a computer system with the following specification

Friday, May 24, 2019

Revenue Outstanding Measured as the Weeks Billing Outstanding

MEASURING OUTSTANDING REVENUE AS WEEKS BILLING OUTSTANDING By SACHIN GHOGLE intromission Financial management focuses in finding the value in accounts receivable by emphasizing on improving the collections process and hence accelerating the cash flow. receipts Outstanding is the amount due from the customer as a result of an organisations normal transmission line operation, that is, it is the amount that has been billed by organisations and is due, only when which has not been collected.The management of Revenue Outstanding is an central source of cash and hence an important parameter that the management should legal community. The estimation of time to recoup the gross peachy is important to determine the profit of any organisation. Most prefer to receive remuneration immediately rather than to wait for it, especially because some measure payment is never made in the latter scenario. There is no one general technique to estimate the time to recoup the revenue that can be ado pted by all the organisations.It varies from organisation to organisation depending on the nature of melodic phrase and the needs and strategies of the management. Although there is no certainty of receiving payments from all the customers, organisations use various methods to calculate the revenue big(p) or the payment that leave behind be recovered later at a any peculiar(a) point of time. The Weeks billing Outstanding (WBO) measure calculates the revenue nifty based on the total occur of weeks billings essential to recoup current Revenue Outstanding.The WBO is an important financial parameter, which shows the age in weeks, in an memorial tablets accounts receivable and is defined in terms of the average time taken to convert the corking revenue into cash. The WBO measure helps the management to measure the effectiveness of collection activities and alert the management with problem accounts. If the WBO is low, then less time is spent to collect outstanding revenue. By readily converting the billings into cash, the organisation can reinvest this cash and convert it into profits. 1 The WBO Measure A payer is responsible to pay for the services used.The total outstanding revenue of a payer is the sum of invoiced amount minus the cash received against some of the invoices minus the unallocated cash/ payments received as advance or prepayment from the payer. Some organisations proclaim the outstanding revenue as being outstanding from the date of the invoice as opposed to the due date of the payment. The Weeks bill Outstanding is the total number of days billings corresponding to the payer required to recoup the current outstanding revenue for the payer divided by number of days in a week.WBO = DBO/7 This WBO is calculated for an case-by-case payer level whereas the management needs the general WBO for a single line of credit unit or a busy territory. There are three methods to calculate the overall WBO for a single business unit. The overall W BO (Method 1) for a single business unit or a particular territory can then be calculated as the average of the WBO for all the payers within the corresponding business unit or territory.The overall WBO (Method 2) for a single business unit can be more accurately calculated from the business perspective by pick uping the weighted average of the individual WBO over an important business parameter (for example, the accumulated revenue over the past one year). These two methods can showcase the weak link or the strong link affecting the outstanding revenue. After identifying the weak link, the management can focus on the weak payers to reduce their outstanding revenue and to amend the overall cash flow within the system.The overall WBO (Method 3) can be calculated as the total number of days billings (cumulative for all the payers within the business unit) required to recoup the current total outstanding revenue for the business unit (cumulative for all the payers). Though this metho d cannot point the weak link, it is more accurate. 2 How to use WBO Measure Reference Date 01 March 2008 Listed below are the aggregated Invoice figures for a Payer P1 Invoiced Amount $80,000 Cash acquire $20,000 have Amount $60,000 Unallocated Cash / Payments $15,000 Outstanding Revenue $45,000 Open Amount = Invoiced Amount Cash Received Outstanding Revenue = OpenAmount Unallocated Cash / Payments Received US $45000 is the Outstanding Revenue from a Payer P1 Listed below is the Billing Details against Payer P1 Billing Date 1-Mar-2008 29-Feb-2008 28-Feb-2008 27-Feb-2008 26-Feb-2008 25-Feb-2008 24-Feb-2008 23-Feb-2008 22-Feb-2008 21-Feb-2008 20-Feb-2008 19-Feb-2008 18-Feb-2008 17-Feb-2008 16-Feb-2008 15-Feb-2008 14-Feb-2008 13-Feb-2008 Billing Amount $0 $0 $0 $1,000 $500 $0 $0 $0 $0 $0 $0 $0 $0 $2,000 $0 $0 $0 $2,000 Cumulative Billing Amount $0 $0 $0 $10,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $35,000 $35,000 $35,000 $35,000 $55,000 DAYNUM 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 This chart shows that a Billing of amount $55,000 against a Payer P1 which is greater that the outstanding revenue $45,000 from a payer P1is achieved after 18 days of billing counted from March 1, 2008. Thus the days billing outstanding that will be required to recoup the outstanding revenue is 18 days. 3 Hence the weeks billing outstanding that will be required to recoup the outstanding revenue will be calculated as follows WBO = DBO / 7 = 18 / 7 = 2. 57 Similarly, the WBO for each payer can be calculated. Consider the calculated WBO figures for n Payers to be as follows Payer P1 P2 P3 P4 P5 P6 Pn WBO 4 2 15. 5 1. 5 1 0. 5 And the Management is interested in the Overall WBO measure for a business unit or a territory. Method 1 Overall WBO can be calculated as the average of the WBOs of all the payers within the particular Business unit or territory. The overall WBO hence will be ? 1-N WBO N N = Total number of Payers The Overall WBO = (4 + 2 + 15. 5 + 1. 5 + 1 + 0. 5)/6 = 4. 09 The Overall WBO is 4. 9 even though the WBO for Payer P3 is 15. 5 4 Method 2 Now let us consider the following chart. Payer P1 P2 P3 P4 P5 P6 Pn WBO 4. 5 2 15. 5 3. 5 1 0. 5 Accumulated revenue over the past 1 year ( In Millions) 0. 5 1 50 5 2 0. 2 ? 1-n (WBO X Acc. Rev) . 25 2 775 17. 5 2 0. 1 x The considerations of a business parameter, here the Accumulated Revenue over the past one year for each of these payers will alter the view in which the WBO is to be measured from a management perspective. The management weighs payer P3 about 15 times more than payer P5 as the revenue accumulated from payer P3 is approximately 15 times more than that from payer P1. As the WBO for Payer P3 is high compared to the Overall WBO calculated in Method 1, the alternative to improve the calculation is to use a plodding average of the WBO as opposed to the normal average. As per the new formula Overall WBO = ? 1-n (WBO X Acc.Rev) -? 1-n (Acc. Rev) Overall W BO = ( 2. 25 + 2 + 775 + 17. 5 + 2 + 0. 1) -(0. 5 + 1 + 50 + 5 + 5 + 2 + 0. 2 ) = 798. 85 / 58. 7 = 13. 61 The new Overall WBO is now closer to the WBO of the Payer P3 who is a major payer for the organization. 5 Method 3 Listed below are the aggregated Invoice figures for a single business unit Invoiced Amount $1. 50 Cash Received $0. 80 Open Amount $0. 70 Unallocated Cash / Payments $0. 20 Outstanding Revenue $0. 50 $0. 5 million is the overall outstanding revenue for the business unit Listed below is the overall Billing Details for the business unit Billing Date -Mar-2008 29-Feb-2008 28-Feb-2008 27-Feb-2008 26-Feb-2008 25-Feb-2008 24-Feb-2008 23-Feb-2008 22-Feb-2008 21-Feb-2008 20-Feb-2008 19-Feb-2008 18-Feb-2008 17-Feb-2008 16-Feb-2008 15-Feb-2008 14-Feb-2008 13-Feb-2008 12-Feb-2008 11-Feb-2008 Billing Amount $0. 00 $0. 00 $0. 00 $0. 05 $0. 10 $0. 00 $0. 00 $0. 00 $0. 07 $0. 00 $0. 05 $0. 00 $0. 00 $0. 05 $0. 00 $0. 80 $0. 00 $0. 02 $0. 00 $0. 10 Cumulative Billing Amount $0. 00 $0. 00 $0. 00 $0. 05 $0. 15 $0. 15 $0. 15 $0. 15 $0. 22 $0. 22 $0. 27 $0. 27 $0. 27 $0. 32 $0. 32 $0. 40 $0. 40 $0. 42 $0. 42 $0. 52 DAYNUM 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 These charts show that a Billing of amount $0. 2 million which is greater that the outstanding revenue $0. 5 million is achieved after 20 days of billing counted from March 1, 2008. Thus the days billing outstanding that will be required to recoup the outstanding revenue is 20 days. Hence the weeks billing outstanding that will be required to recoup the outstanding revenue will be calculated as follows WBO = DBO / 7 = 20 / 7 = 2. 86 6 Based on the pros and cons of the various methods, every organization would select a method to measure its Weeks Billing Outstanding, which will form the baseline for their reporting. Then the management has to devise appropriate procedures to gather the required info to implement the selected method. 7

Thursday, May 23, 2019

Hamlet Act 3 – the Dumb Show

The Dumb Show As Claudius asks for the light, he wants maskual light. The light also means the act of asking for forgiveness. People who are of the same rank or are comfortable with each other speak to each other is pros. crossroads speechmaking to the players, he speaks down to them in verse. For the play within a play, Shakespeare uses rhymed verse to elevate the language. This was done because Claudius was of a higher status and this raises the severity of the crime. Hamlet is using the language to identify the criminals, through the language.Blank verse an official occasion or speaking to someone older (like poetry), like Hamlet and his Mother. Hamlet tells Horatio that he admires his sense of loyalty, character and sincerity. In the Excerpt Identify 3 metaphors, how the theme of appearance vs reality is revealed In what slipway is Horatio similar to hamlet? In what ways is he a foil? Is Horatio expendable in the plays plot development? Is act 3 the climax? No, I do call bac k that this was the climax. I believe iIs it evident that act 3 might be the climax of this play? This is because at this point we discover who Hamlet truly was. He is not the pattern hero we actually perceive him to be. His murder of Polonius was equal to the murder of King Hamlet. In both cases, there are children who lost their lives. Even though Claudiuss murder was pre-meditated, murder is still murder. Even though Hamlet did this without planning, the fact that he was able to take a life so abruptly shows that he is not in essence the hero within the play.Anachronism When something doesnt fit the context of the play. For example Hamlets school didnt exist in the time in which Shakespeare wrote the play. The recurring motif is sons avenging their fathers. (Old Norway and Young Hamlet) Now Hamlet kills Polonius who has a son. Laertes After getting evidence that Claudius is actually guilt, he feels that he can now kill Claudius. That is why he kills Polonius without confirming why it was. (Deduced that it was Claudius hiding)

Wednesday, May 22, 2019

Off Site Visits

CONTRIBUTE TO CHILDREN AND YOUNG PEOPLES HEALTH AND SAFETY EXPLAIN THE PREPARATION AND SUPERVISION OF CHILDREN IN OFF SITE VISITS. Safety is our acquit priority even the shortest clacks need to be thoroughly planned and requires its own risk assessment. All are take bulge site visits for this age group (2yrs-3yrs old) are local. All visits our thoroughly planned and a risk assessment is carried out. A visit is made to each(prenominal) new places/venues.The risk assessment includes details of the modes of travel, possible hazard areas and precautions to minimise the risks, staffing ratio, medical and special needs of pupil and staff, and staff telephone contact details. The risk assessment is reviewed before a second visit is made. The register is taken before the pincerren leave the centre. The children our counted at regular intervals throughout the visit and on return. The children remain under super imagination at all times.Before the group/ party leaves the centre key p erson/ managers allow for provide a list/ register of everyone including adults travelling with the group/ party. Together with a time control panel/ programme for the offsite visit. The children are briefed in advanced about the visit. Parent/carers of children taking part in the offsite visits/activities should be provided with all appropriate in hitation about the think visit. Parent/carers must give their permission in writing before a child can be included in any off site activity .The children leave the centre mostly in pushchairs, the children that walk, walk in pairs, hand in hand. When walking by roads an adult will walk in front, middle and behind. The children taking part in offsite visits are 2-3yrs old, the ratio is 1 adult and 4 children. There are always twain key persons one designated as group leader for the visit. All adults accompanying a party/ group must be made aware by the managers of the emergency procedures which will apply. Each adult should be provided with an emergency phone and numbers.This will normally be the managers number. Close super vision and proper protective clothing/ blankets and rain wear are essential for even the shortest visits/excursions. All key persons are qualified in paediatric prototypical aid. If a child has a minor accident or becomes ill, the group leader or another instalment of staff will phone the childs parent/carers emergency contact number at once and arrange for him/her to be collected. If contact cannot be made, the group leader, or another member of staff will take the child to the local hospital or, if the llness is more minor, back to school. A member of staff will remain with the child at the hospital or school until parent/carer arrives. A member of staff will carry a first aid kit at all times. If a child/children are on medication the nessecery forms are signed by parent/carer. Medison is named, go out and put in a bag/container and taken on offsite visit. The key member of staff will a dminister the medication to their key child, this is then reported on a medication form timed, dated and signed. A contingency plan is important because it is a what if plan.A contingency plan is known as a plan B, a backup plan in case in case things go wrong. If the contingency plan is good then a plan c is not needed. Contingency plan is a plan put together (by the key person) for an outcome other than in the usual expected plan. Things seldom go exactly as we plan, so having an idea, something out of your control will sometimes happen. A contingency plan helps you navigate these potentially threatening moments and give you steps to do so in a practical manner. EVALUATIONUpon returning to school a review and evaluation should be carried out as soon as possible. A copy of the have it offd form should be given to the child co-ordinator within one week of your return to school. Leaders should also ensure that upon completion of a visit a complete file of names, addresses, insurance arrangements, contacts, procedures etc. is kept for at least 3 years. This information will be required if of any future claim, from any disaster that may of occurred on the offsite visit. Karen fairbrother 6. 2. 13 Resources Trinity policy

Tuesday, May 21, 2019

Department of Food Science Essay

According to Stable little Ltd. (2013), Texture analysis is the mechanical testing of food, cosmetics, pharmaceuticals, adhesives and other consumer products either in capsule or in tension. The TA. XTplus Texture Analyser assesses textural properties by capturing tug, distance and time data at a rate of up to 500 points per second which is then(prenominal) displayed by fully integrated Exponent 32-bit software. Characterization of food texture commonly falls into two main groups, based on sensory(a) and instrumental methods of analysis.Sensory analysis includes of the senses of smell, taste, sound and touch. Evaluation of food texture by touch includes the use of fingers, as well as the lips, tongue, palate and odontiasis in the mouth. Strain is one of the rheological quantity associated with deformation which a measure of the relative displacement between the particles of a material. TA. XT2 texture analyser cigaret be used to measure the strain, the change in length per uni t length. The other quantity that being measured is a stress, a measure of force concentration on a material.Stress is the force per unit area that its magnitude be expressed in pascals. The variety of probes and fixtures for TA. XT2texture analyser which based on empirical principles may be classified according the type of action involved. As examples, compression, puncture and penetration, cutting and shearing, extrusion, tension, fracture and bending or snapping and adhesion. REFERENCES Stable Micro Ltd. (2013). THE WORLD STANDARD FOR TEXTURE ANALYSIS. Stable Micro Systems. Retrieved from http//www. stablemicrosystems. com/frameset. htm? http//www. stablemicrosystems. com/taxtplus2. htm

Monday, May 20, 2019

Going home Essay

This is a first person narration of a pass in Iraq who had been victim to an evening ambush by disgusting multitude. The narration begins with the soldier already in the infirmary, months by and by the ambush incident, nursing a fractured proper foot. At close to this time, word also came forbidden that death chair Bush was going to withdraw five thousand plus men from Iraq so that they could be abode for the holidays. The soldier hopes that he is part of the list of men who would be rec exclusivelyed. In the meantime, the soldier recounts the events that led to his occurrent situation.The soldier reveals that many had died in the ambush and he was merely atomic number 53 of those who survived. The ambush took place small-arm they were on their itinerary to the newton US Detachment. While recounting the story of how he had become a spiteed US soldier, the narrator also offers insights into how war can be patriotic and how it can permute the course of events for the wo rld at large. The soldier also mentions in his reminiscing that they were not the original heroes of war, rather the true heroes were the families they left second home.The narrator dwells on this topic and comprehensively explains how the families put up home should be the trust valuey heroes in a war and not the soldiers who be actually in the war. The soldier also offers insights into how down(p) a war can be and how wasteful it is when it comes to lives wasted barely despite his views on the war, the soldier remains steadfast in his beliefs and holds on to the thought of his family waiting prickle home. The narration ends with the soldier universe called to the circle hall along with many an virtually other(prenominal)s for the announcement of the list of recalled soldiers.Find out if he is one of those who will return home. (YOUR FULL NAME) (PROFESSORS NAME) (COURSE AND SUBJECT) (DATE OF SUBMISSION) GOING HOME A SOLDIERS chronicle Christmas is fast approaching and I am hoping to hurt an early Christmas gift as President shoot down announced last September that about 5,000 plus of us would be home for the Christmas holidays. This was part of the curb troop reduction that was to be implemented on US troops before the military stack in March next year.We are still waiting for the final list of soldiers who would be displace home and I am hoping that I would be in the list. I am useless hither in the field anyway. I have been in the infirmary tent for the past 3 months because my right foot suffered segmented fractures after an ambush attack on our team while we were driving to the North detachment. We were fifteen in the truck. I was one of the lucky seven who came out of the attack alive.I was in the back of the truck and as usual, I felt same I had to watch my own back as well as I was watching the backs of the other soldiers who were with me in the truck. It was about eleven in the evening. We all had to travel in the c everyplace of d arkness to avoid being detected by violent troops. From a distance, the sound of mortar come alonged as natural as the crack of thunder on a balmy evening. A false, red sunrise could be seen from the horizon as flames from explosives incessantly lighted up the horizon.It was cold in the desert, the temperatures are extreme. Daytime is extremely hot and the evening can be as cold as it is hot during the day. We were all in our camouflage uniforms, but these were only(prenominal) flimsy material weak protection from possible bullets coming our way or even stray shrapnel from distant explosions. I feared for my carriage but also thought of the country, and the world, and what it would be like if the US did not launch an offensive against hostile troops here in Iraq.In my heart I could not understand wherefore I had to go through much(prenominal) horror and put my life on the line for such a cause but when I think of my young wife waiting for me back home, and my three month ol d daughter, I understand why I have to be here. The weapons of mass goal that Iraq may be hiding from the world may be cause for the destruction not only of the US but also of the world as we know it and this alone told me that my being here was worth everything I had but then again, I can never deny the fact that in that location could have been better days.About an hour into the trip, the truck grinded to a halt a co-soldier who was seated beside the driver axiom something through his night vision binoculars. A group of armed men were stationed about half a mile away and it seemed that they did not notice our approach because they were huddled together in a close-fitting circle seemingly having a drink. We did not find this cause for alarm because sporadically, throughout the road, were friendly troops from the other side who were securing travel routes for civilians.However, since we could not identify them from a distance, there was no choice but to be on guard and move forw ard until we were close enough to identify them. The driver had glum off the headlights and slowed down to a crawl to prepare for our approach. When we were just a few meters away, I perceive one of the men stationed at the road cry out a piercing yell that to me sounded like a death sentence. At that very moment a volley of gunfire punctuated the distant explosions and we all lay flat on the floor of the truck.In what seemed like forever, the truck turned around and sped towards the other direction back to the camp. The gunfire continued and it was at this moment that I felt warm crystalline seeping into the fabric of my uniform from the back. I turned around to see one of my co-soldiers slumped on my back with blood streaming from his neck. I quickly stood to check on the other men with me in the back of the truck. Four of them had been badly hit, cardinal were unharmed, and seven of us suffered minor injuries.Mine was a gunshot wound that pierced my right ankle. Later, it tur ned out that the driver had been badly hit as well, so it was the other army officer with him in the front seat who was already driving the truck. We made camp about three hours after the incident. We had already been halfway through the six hour trip that was supposed to backpack us to the North detachment. We were all brought to the infirmary and the dead immediately interred into shiny black embody bags that reflected the red glare that rose up from the distant horizon.The camp chaplain said a prayer over the dead and another officer bend down to take out their dog tags, they name patches, and some of their personal effects. I imagined how difficult this was for the officer. I imagined how it would have been had I been one of them. The following day two or three officers from the US Military back home would be at the porch of our house delivering the tragic news to my wife and my daughter. I imagined how they would feel, and how much they would hate the state for sending me to war but I was lucky to be alive, or not.Now, I had to jalopy with the gruesome images that I had witnessed. I had to spend my life thinking of what is and what could have been. I would probably be found gazing into the blackness for many solitary hours try to find a decent and even logical reason for this manslaughter but I was determined to go home in one piece, if not for my wife and daughter, at least for a country and a world that was waiting for a glimmer of hope that could come out of this bloodshed. Logically, bloodshed is bloodshed and naught good could come out of war.It was always like choosing between two evils the lives of hundreds of men and women in counterchange for the peaceful future of my country and the world. The choice was always easy and I found it an honor to be fighting for this cause, albeit momentary periods of questioning and reasoning and questioning again. I felt that I was not a hero here the real heroes are the families we have left behind mothe rs, fathers, wives, husbands, daughters, and sons. They are the real heroes for having to deal with our absence and having to live their lives every day with the knowledge that we may not even return alive.They are the real heroes for having to lie to the innocent ones about fathers and mothers who were out there fighting for the country because this was the only way to ensure the future of course, there are other ways, but when some other ways seem bleak and unfeasible, war is often the method of choice. These people are the real heroes not because they sacrificed anything but because they pass up to just fade into the sunset and let go of the prospects of peace and unity for the whole world. They are there back home not for any reason, but for a reason that all of us in this world would one day recall and be grateful about.We, in the field, we are here because of them and their unending belief and hope in our cause we are here because of their love and the fact that before we quietus at night our minds swim in oceans of faces the faces of our real heroes. The bugle had been sounded. Our superior had called us all to the mess hall to announce who would be going home for Christmas and who wouldnt. With my crutch in tow and a foot strong with plaster dragging behind, I go to the mess hall. The superior went through the list. The lights have been turned out after the list was read. I was walking back to the infirmary. I was going home.

Sunday, May 19, 2019

The Critical Thinker and Culture

The full of life Thinker and finishing R. Steve Terry Ameri do-nothing Sentinel University BSN 43611-A May 30, 2011 Marg atomic number 18t Lowenthal Abstract Using the textbook Rubenfeld, M. G. & Scheffer, B. K. (2010). Critical Thinking maneuver for Nurses Achieving the IOM Competencies, 2nd Ed. Boston J unriv all in alleds and Bartlett Publishers. ISBN 978-0-7637-6584 Using the checklist in Box 3-2, reflect on your culture and how it readiness affect your critical thinking habits of the mind. Then think of someone you work with who comes from a culture polar from yours. Think of a patient from a different culture.How do you think those persons would answer the questions? Introduction taken directly from my first paper, . Thinking as a Critical Thinker Critical thinking is something we do every day in our nurse jobs, and yet we dont target names to the parts and pieces of fairish what it is we atomic number 18 doing while making those decisions. Reading the first two chapt ers of our text book has opened my eyes, not still to what I do on a daily basis, but has given me insight on how to sectionalization the process of critical thinking into manageable parts, with definitions for each phase.This breakdown of the process will not more thanover help me in my day-to-day duties but will similarly help me communicate the process more easily to my peers. Now what would happen to the critical brain when you add his or her cultural aspects to the way they put together and analyze their information gathered as that critical thinker? Do you think the influences of ones upbringing may enhance or impair critical thinking in the nursing field? Lets start out by investigating my culture of youth where I was born into the Appalachian area of West Virginian.Appalachian Culture Appalachian is a land of racy mountains and green forests, abundant springs and rivers, varied plants, animal and bird life. Its Cumberland range is big coal mining country. Its farms ar e customsally small operations. The area to which you will be traveling is one of rich history and tradition (Commission on Religion of Appalachia, 1992). Being brought up in West Virginia, I have many memories of a style of living that my grandparents and their parents taught me about.One of the funniest traditions we have is a scruple of doctors. Where Im from in in the south Central, West Virginia, sight only go to the hospital to die. Its my belief that this came about beca occasion most people from the hills only made it to the hospital at the last stages of disease so it was felt it was the last situation to go before one dies. And this is not just in West Virginia its in all the Appalachian area. The geographic boundaries of Appalachia include portions of 13 states, reaching from southern New York to northern Mississippi.It contains 398 counties in the hobby states Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Car olina, Tennessee, Virginia, and West Virginia. West Virginia is the only state that the kingdom completely covers. The region is rural and urban, rich and poor (Frank S. Riddel, ed, 1984). Process of Learning Trust If you had asked me what critical thinking was before today, I would have probably explained in terms that resembled the nursing process, because that is what I have been educated about for cardinal years but, dont think its been easy for me.On the contrary, because of my cultural upbringing and the distrust in medicine that has long plagued not only Appalachia but my family as well, it was very difficult in the beginning of my nursing career to learn the subtle truths about creating a trust atmosphere amid myself and members of my cultural confederation. According to Rubenfield and Sheffer, critical thinking is the metaphorical bridge between information and action (Rubenfield & Scheffer, 2010).Thats exactly what it has been for me, a bridge to bring trust to members of my community. One of the biggest areas of difference in Appalachia and most other cultural areas is the distrust of anything that is outside of the community (Frank S. Riddel, ed, 1984). I believe as a critical thinker that knowing this has helped me understand how to communicate trust to this community and by knowing first the culture of my community it has helped me discern areas that I can control and areas that I cannot.I know to use the habits of confidence and perseverance to reckon with my community to build trust, because these are areas that my culture sees as important, although they live in present tense at most times, I feel that I can help them understand, the tomorrow, if not getting treatment today type of concept. Conclusion Culture is just one of many aspects one must consider before jumping to any conclusions about communication. This is also true about critical thinking. This is wherefore flexibility, open-mindedness and perseverance are such import parts of the Critical Thinking habits of the mind.Without them we may decide to just give up because we dont understand why someone may not understand our end goals and why we want to help them. References Commission on Religion in Appalachia, Economic transformation The Appalachian Challenge(Knoxville, TN C. O. R. A. , 1992). Frank S. Riddel, ed. , Appalachia Its People, Heritage and Problems (Dubuque, IA Kendall/Hunt publishing Company, 1984), xi. Rubenfeld, M. G. & Scheffer, B. K. (2010). Critical Thinking Tactics for Nurses Achieving the IOM Competencies, 2nd Ed. Boston Jones and Bartlett Publishers.

Nike Essay

1.What is the WACC and why is it crucial to enter a incorruptibles exist of bang-up? Do you agree with Joanna Cohens WACC computing? Why or why non?AnswerThe damage of superior refers to the maximum calculate of return a quick moldiness earn on its enthronement so that the commercialize esteem of play alongs equity pcts will non drop. This is a consonance with the over wholly firms objective of wealth maximization. WACC is a calculation of a firms toll of chief city in which apiece(prenominal) category of capital is proportionately weighted. All capital sources common occupation, favorite(a) stock, nonpluss and any other long- stipulation debt are included in a WACC calculation. All else equal, the WACC of a firm increases as the important and browse of return on equity increases, as an increase in WACC nones a decrease in valuation and a higher(prenominal) jeopardy. The WACC of a firm is a very important both to the stock merchandise for stock valuati on purposes and to the communitys management for capital budgeting purposes. In an epitome of a potential investment by the attach to, investment attends that stomach an judge return that is greater than the companys WACC will gene lay additional surrender cash flow and will take a crap positive net evince entertain for stock owners. Thus, since the WACC is the minimum site of return required by capital providers, the managers in the company should invest in the projects which gene score returns in excess of WACC.We do non agree with Joanna Cohens calculation regarding the WACC from 3 aspects 1) When Joanna Cohen computed the weights or proportions of debt and equity, she employ the book care for rather than the securities industry care for. The book values are historical data, not legitimate ones on the contrary, the market re presages the values of each type of capital on a continuous basis, therefore, market values are much admit. 2) The approach of debt should not be cypher by winning chalk up interest expense for the year 2001 and dividing it by the companys norm debt balance. These historical data would not reflect Nikes current or future exist of debt. 3) She mistakenly calld the average of import from year 1996 to 2001. The average beta could not manufacture the future systemic happen, and we should get under ones skin the most in the raw Beta as Beta estimate in this situation.2.If you do not agree with Cohens synopsis, calculate your own WACC for Nike and be prepared to free your assumptions.Answer1)Weights of equity and debtMarket value of equity = on-line(prenominal) share mark x Current shares awaystanding = $42.09 x 271.5m = $11,427.44mDue to the lack information of market value of debt, we could mapping the book value for calculation Market value of debt = Current portion of long- enclosure debt + Notes pay sufficient + tenacious-term debt = $5.4m + $855.3m + $435.9m = $1,296.6m We = $11,427.44m/($11,427. 44m +$1,296.6m) = 89.81%Wd = $1,296.6m/($11,427.44m +$1,296.6m) = 10.19%2) be of DebtWe wad calculate the current yield to maturity of the Nikes chemical bond to represent Nikes current equal of debt. Po=$95.6 N=202=40 PAR=$100 PMT=$1006.75%/2=3.375By victimisation financial calculator r=3.58%(semiannual)So Rd=3.58% x 2 = 7.16%3) apostrophize of lawUse 20-year T-bond rate to represent risk-free rate, as the rate of return of a T-bond with 20 years maturity is the longest rate which is available right now. So Rf=5.74% Use a geometric mean of market risk premium 5.9% as Market run a risk Premium As we mentioned in Q1, the most recent of import will most relevant in this respect, so we will use B=0.69 Re=Rf+B(Market Risk Premium)=0.0574 + 0.690.059 = 9.81%4)WACCUse task rate = US statutory tax rate + state tax= 35% + 3% = 38%WACC=Wd x Rd x (1-T) + We x Re= 10.19% x 7.16% x (1- 38%) + 89.81% x 9.81% = 9.26%3.Calculate the costs of equity utilise CAPM, and the dividend discount toughie.What are the advantages and disadvantages of each model?Answer1) toll of Equity exploitation CAPMMarket Risk Free score (Rf)= 5.74% (20-year yield on US Treasuries) Beta (B) = .69 (most recent beta employ as most relevant beta to calculate Nikes valuation) Market Risk Premium = 5.9% (Geometric Mean used as Historic Equity Risk Premium) address of Equity use CAPM = Re = Rf + B(Market Risk Premium) Re = 9.81% = 5.74% + .69(5.9%)Advantages-CAPM includes systematic risk by incorporating Beta in the equal of Equity formula. victimisation the stocks Beta to calculate equity will provide a return rate found on how violent the stock is perceived by investors. The higher the risk, the higher the Beta will be and will result in a higher required rate of return on the investment. Systematic risk cant be diversified away, piece of music unsystematic risk can be diversified away by maintaining a diversified portfolio. -CAPM proves to be a better model than others such as the Dividend disregard personate, because the valuation behind CAPM is based on risk and rates of return while the Dividend Discount Model relies heavily on dividends and a growth rate.Disadvantages-When using CAPM, it can be difficult determining the estimate of Beta. Different investments may involve unlike risks and the Beta used in calculating CAPM should reflect the appropriate amount of risk relating to the specific investment. -The risk free rates used in calculating CAPM are continually changing as with the values of the investments in the market which make up the market risk premium. The continual changes in the market can have negative impacts on the valuation of CAPM. -Another disadvantage in using the CAPM in investment appraisal is that investment appraisal is premised on a long-term time horizon, whereas CAPM go ins a single- effect time horizon, i.e. a holding period of one year. While CAPM variables can be presumed constant in successive future periods, market rea lity often shows that this is not the case.2)Cost of Equity using the Dividend Discount ModelGrowth (g) = 5.5%Dividend (D0) = $.48Share wrong (P0) = $42.09Cost of Equity using Dividend Discount Model = Re = (D0 x (1+g)/P0) +g Re = 6.7% = (.48 x (1+5.5%)/42.09+5.5%Advantages-Using the Dividend Discount Model is very easy to calculate because the formula is not complicated. There are no real technical or difficult calculations involved with using this regularity. -The inputs that are used in the calculations of this model are market information and can be easily obtained. -The Dividend discount model attempts to put a valuation on shares, based on forecasts of the sums to be paid surface to investors. This should, in theory, provide a very solid basis to determine the shares true value in present terms.Disadvantages-The Dividend Discount Model relies heavily on the growth rate to calculate the rate of return. If growth slows or becomes temporarily negative, it can result in calcula tions which may not truly represent future expected returns. -This model is reason using dividends and cant be used in instances where a company is not paying dividends. This is also a disadvantage for any investment without a reasonably constant growing dividend stream. -The Dividend Discount Model is very sensitive to minor changes in input figures. If the growth rate changes by 1 % the cost of equity will also change by that rate. -The Dividend Discount Model does not explicitly consider the risks which the company faces.4.What should Kimi Ford recommend regarding an investment in Nike?AnswerIn order for Kimi Ford to make a decision regarding an investment in Nike, she must compare an accurately calculated WACC to the sensitivity of equityvalue to discount rate chart shown in Exhibit 2. The sensitivity chart in Exhibit 2 states that at a discount rate of 11.17%, Nikes current share price is fairly valued at $42.09. If a discount rate were to be calculated below 11.17% thus the Nike shares would be under-valued in the current market, but if their discount rate were higher than the 11.17% Nike share price would be considered over-valued when compared to the current share price. When we calculated Nikes discount rate, we determined that their appropriate WACC should be 9.26%. Since this WACC of 9.26% is below 11.17%, we believe that Nikes shares are currently under-valued in the market. We believe that Nikes equity value based on the WACC of 9.26% should fall somewhere between $55.68 and $61.25. Kiki Ford should recommend adding Nike shares to the NorthPoint large-capitalisation Fund based on our analysis.03/03/2011CASE OVERVIEWKimi Ford is a portfolio manager at a large interchangeable-fund management firm called, NorthPoint Group. Ford is considering the addition of Nike Inc. to the Large-Cap Fund at NorthPoint Group. Nikes share price has notably declined since the starting line of the year. Her decision whether or not to add Nike to the portfolio sho uld be made by looking at the 2001 monetary year end 10-K report.In 1997 Nikes revenues plateaued around $9 billion while net income had move from around $800 million to $580 million. Also, from 1997-2000 Nikes market share in U.S. athletic shoes fell from 48% to 42%. Supply-chain issues and the adverse effect of a strong dollar had negatively affected revenue in recent years. At the June 28, 2001 analyst conflict Nike planned to add both top-line growth and operating performance. genius goal was to develop more mispriced ($70-$90) athletic shoes and the other to push its apparel line. At this meeting a charge long-term revenue growth rate between 8%-10% was given and an earnings-growth target above 15%.After reviewing all the analysts reports active the June 28th meeting Fordstill did not have a clear picture of how to value Nike. Ford then performed her own sensitivity analysis which revealed Nike was undervalued at discount rates below 11.17%.WHAT IS THE WACC?A firm derive s its assets by either upbringing debt or equity or both. There are costs associated with raising capital and WACC is an average figure used to indicate the cost of financing a companys asset base. More formally, the weighted average cost of capital (WACC) is the rate that a company is expected to pay to debt holders and shareholders to finance its assets. Companies boost silver from a number of sources so the WACC is the minimum return that a company must earn on existing asset base to satisfy its creditors, owners, and other providers of capital.WACC is calculated taking into account the relative weights of each component of the capital structure which agency it is the proportional average of each category of capital within a firm. This rate, also called the discount rate, is used in evaluating whether a project is feasible or not in the net present value (NPV) analysis, or in assessing the value of an asset.WACC = Wdebt * Kdebt * (1-t) + Wequity * Kequity + Wpreferred * Kpre ferredK = component cost of capitalW = weight of each component as percent of total capitalt = marginal corporate tax rateWHY IS IT IMPORTANT TO ESTIMATE A FIRMS COST OF CAPITAL?The cost of capital is an important issue from the perspective of management while taking a financial decision. We can list some basic issues related to the importance of WACC and its interpretation by firms* The importance of the WACC is in its relation to the evaluation ofprojects. For a project to be feasible, not just profitable, it must generate a return higher than the cost of raising debt (Kd) and the cost of raising equity (Ke). WACC is affected not only by Re and Rd, but it also varies with capital structure. Since Rd is usually lower than Re, then the higher the debt level, the lower the WACC. This partly explains why firms usually prefer issuing debt first before they raise more equity. As part of their risk management processes, some companies add a risk gene to the WACC in order to include a ri sk cushion in their project evaluation.* The cost of capital is also important for the management while taking a decision about capital budgeting. Naturally, the project which gives a higher (satisfactory) return on investment compared to the cost of capital incurred for its financing would be elect by the management. Cost of capital is the key factor in deciding which project to undertake out of varied opportunities.* The cost of capital is significant in designing the firms capital structure. It will direct the management about adopting the most appropriate and economical capital structure for the firm which means the management may try to substitute the various methods of finance to minimize the cost of capital so as to increase the market price and the earning per share.* The cost of capital is also an important factor for taking a decision about the soundest method of financing for the company whenever the company requires additional finance. The management may try to catch th e source of finance which bears the minimum cost of capital.* The cost of capital can be used to evaluate the financial performance of the top management by comparing actual positivenesss of the projects and the projected overall cost of capital and an appraisal of the actual cost incurred in raising the required funds.DO WE AGREE WITH JOANNA COHENS WACC unhurriedness? WHY OR WHY NOT?We do not completely agree with Joanna Cohens calculation of WACC. There areseveral problems in her calculation* In Cohens calculation, she used the book value for the weights of each capital structure component (debt and equity). record book value of equity should not be used when calculating cost of capital. Instead she should have calculated the market value of equity. Also, she should have discounted the value of long-term debt that appears on the balance sheet to find the market value of debt (even if the book value of debt is accepted as an estimate of market value).* Also, she should have cons idered the preferred stock while calculating the weights of the components of capital structure (the redeemable preferred stock is relatively small in Nikes capital structure so it doesnt affect the weights).* Another problem with her calculation is about the cost of debt. Cohen used a cost of debt which is even lower than treasury yield. In common sense, a company, even it might be a large AAA firm, should be risky than US government. Cost of debt should be calculated by finding the yield to maturity on 20-year Nike Inc. debt with current coupon rate paid semi-annually instead of by taking total interest expense for 2001 and dividing it by the companys average debt balance.USING SINGLE OR MULTIPLE COSTS OF CAPITAL IS APPROPRIATE FOR NIKE INC.?Even Nike Inc. has duple business segments such as footwear, apparel, sports equipment and some non-Nike-branded products (which accounts for relatively small fraction of revenues), we assumed Nike Inc. to have a single cost of capital since its multiple business segments are not very different and would grow similar risks and betas.WHICH EQUITY RISK PREMIUM SHOULD BE USED TO DETERMINE THE COST OF CAPITAL?For the cost of capital, the geometric mean is a better alternative to the arithmetic mean. Furthermore, the geometric mean is a more conservativemeasure to use compared to the arithmetic mean. The average market risk premium has fluctuated by large amounts in neat time periods from 1926-1999. 1926-1929 axiom high market risk premiums however, the 1930s and 1970s saw very low market risk premiums. Therefore, we use the geometric mean since it is a better standard compared to arithmetic mean when the measured period is long-life and contains more fluctuations.VALUE OF EQUITY, VALUE OF DEBT AND WEIGHTINGS OF EACH portion Value(in millions $) WeightCurrent Portion of Long term Debt 5.40 0.04%Notes Payable 855.30 6.73%Long-Term Debt 416.72 3.28%Total Debt 1,277.42 10.05%Equity 11,427.44 89.95% defer 1. The weight of debt and equity in total capital of NikeCALCULATION OF THE COST OF EQUITY UNDER divergent METHODS AND ADVANTAGES AND DISADVANTAGES OF EACH METHOD1. Capital Asset Pricing Model (CAPM) beneath CAPM we can find the cost of equity asKe = Rf + Betai * Equity Risk PremiumThe first issue is to find an appropriate risk-free rate. We think the 20-year yields on treasures would be the one because NIKE is assumed to be operated for such long time, tally to the revitalizing strategy proposed by the management and the long-term debt issued.Next is to determine the beta. The historic betas has been generally decreasing, and we assume it is the market condition and managements purpose that make NIKE to be a defensive company. Furthermore, we find that the competitors such as K-Swiss and Lacrosse also have beta less than one.So rather than the average, we use the YTD beta into calculation. On the other hand, since the beta has been found to be on average closer to the mean value of 1, which is th e beta of an average-systematic-risk security, we calculate the adjusted beta, giving two-third weight to the YTD beta and one-third weight to 1.Regarding the risk premium, we use the geometric mean since it is a better measurement compared to arithmetic mean when the measured period is longer and contains more fluctuations.Combining the above information, we calculate the cost of equity as followsUsing YTD Beta = 5.74% + 0.69*5.9% = 9.81%Using Adjusted Beta = 5.74% + (2/3)*0.69 + (1/3)*1)*5.9% = 10.42%Advantages* It provides an economically grounded and relatively objective procedure * It concentrates on the systematic risk that investors cant avoid, rather than unsystematic risk that can be avoided through diversification * It is suitable for company that doesnt pay dividend* It is widely used.Disadvantages* The assumptions may not be realistic. For example, investors may not be all risk averse and rational that holds efficient portfolio * Investors may concern more than just mark et risk.2. Dividend Discount Model (DDM) chthonic DDM we can find the cost of equity asKe = (D1/P0) + gKe = (0.48*1.055/42.09) + 5.5% = 6.70%Here we assume NIKE will pay dividend at constant growth rate of 5.5% which forecasted by Value Line, so we use the Gordon growth model to derive required rate of return.Advantages* It is simple and widely used* Can be used to infer implied required rate of return* It is helpful to perform a sensitivity analysis on the inputsDisadvantages* It is not suitable for company that doesnt pay consistent dividends or the dividends are not tied to profitability * It is suitable for only matured company3. Earnings Capitalization Ratio (ECM)Under ECM we can find the cost of equity asKe = E1/P0Ke = 2.32/42.09 = 5.51%Advantage* SimpleDisadvantages* It assumes the earnings would be the same in the future, which may not be true * It doesnt take the growth of company into consideration.Cost of Equity CAPM Risk-free Rate 5.74% Equity Risk Premium 5.90% Year- to-Date Beta 0.69 Adjusted Beta 0.79 Cost of Equity with YTD Beta 9.81% Cost of Equity with Adjusted Beta 10.42% DDM Current Dividend 0.48 Growth Rate 5.50% Current caudex Price 42.09 Forecasted Dividend 0.5064 Cost of Equity 6.70% ECM Consensus Earnings Estimate 2.32 Current Stock Price 42.09 Cost of Equity 5.51% Build-up Method Risk-free Rate 5.74% Equity Risk Premium 5.90% Cost of Equity 11.64%Table 2. Cost of Equity under different methodsWHICH RATE AS RISK thaw RATE IS BEST FOR NOTES PAYABLE AND LONG-TERM DEBT?For long term debt, the 20-year yield on U.S. Treasuries is best as the risk free rate. Considering the long time horizon of Nike, a 20-year bond is property. And also, it is comparable to the current 25-year bond which Nike issued 5 years ago. Although Nikes current bond is 25 years, we could consider it as a 20-year bond issued this year, and use the current price to calculate the 20-year bond YTM.And for short term debt, because the note payable was a major portion in the debt structure, the 1-year treasuries would be preferred as risk free rate.COST OF DEBT CALCULATION FOR NIKEWe could not agree with Cohens analysis. Because Cohen used a cost of debtwhich is even lower than treasury yield. In common sense, a company, even it might be a large AAA firm, should be risky than US government.First, Cohens emphasis that last year, the effective cost of debt of Nike was less than treasury yield cod to its Japanese Yen notes. However, the rates of debt based on currency change are unstable and non-repeatable. We could conceivable consider that Nikes last years low cost of debt is a kind of merchandise by chance.Second, to calculate the cost of debt, market value of debt should be used rather than the book value used by Cohen. The market value of debt is compounded by the current portion of long-term debt, notes payable, and long- term debt discounted at Nikes current coupon.Therefore, we would like to recalculate the cost of debt. Cost of d ebt was calculated by using the current liquidated 20-year bond of Nike, Inc. with a 6.75% coupon semi-annually. Then we obtain a cost of long term debt before tax as 7.17%, and cost of short term debt before tax as 5.02%.As shown above in Table 1, short term debt took a significant portion in Nikes debt structure therefore, we use a weighted cost of debt to combine both long term and short term debt effects as in following equationHere is the weight of short-term debt, while is the weight of long-term debt. And both cost of short-term and long-term debt are after tax.Cost of Debt Long Term Debt Coupon Rate 6.75% Time to Maturity 40 Current Stock Price $95.60 Cost of Debt 7.17% After tax revenue Cost of Debt 4.44%Short Term Debt 20-year Yield 5.74% 1-year Yield 3.59% Risk Premium 1.43% taxation Rate 38.00% Cost of Debt 5.02% After Tax Cost of Debt 3.11%Final Weighted Cost of Debt After Tax 0.36%Table 2. Cost of debtWHAT IS OUR WACC CALCULATION FOR NIKE?Under different methods , we would obtain different cost of equity, then, definitely different WACCs which range from 5.31% to 10.83%. However, no matter which method we use, the stock price of Nike is undervalued currently.WACC Under CAPM with Adjusted Beta 9.73% Under CAPM with YTD Beta 9.18% Under DDM 6.39% Under ECM 5.31% Under Build-up Method 10.83%Table 4. Weighted Average Cost of CapitalAs shown in Table 5, the actual implied discount rate by current price is 11.17%, which is significantly beyond the range of WACCs we calculated and presented in Table 4. Therefore, in our analysis, Nikes price would be considered as undervalued.Discount Rate Equity Value8.00 % $ 75.808.50 % 67.859.00 % 61.259.50 % 55.6810.00 % 54.9210.50 % 46.8111.00 % 43.2211.17 % 42.0911.50 % 40.0712.00 % 37.27Table 5. Sensitivity test on WACCspassportThis graph shows the estimated value provided under different WACCs, and NIKE is currently trading at 42.09 with corresponding 11.17% WACC. So if the calculated WACC is below 11.17 %, the estimated value would be higher than the current price and NIKE is undervalued if the calculated WACC is beyond 11.17%, the estimated value would be lower than the current price and NIKE is overvalued.After adjusting the possible mistakes that Joanna made, the table shows the calculated WACC under each methodMethod WACCCAPM (Adjusted Beta) 9.73%CAPM (YTD Beta) 9.18%DDM 6.39%ECM 5.31%Build-up 10.83%We can see none of them is above 11.17%, indicating NIKE is currently undervalued and Ford should add NIKE to the NorthPoint Large-Cap Fund. However, it is important to keep monitoring the revitalizing strategy that the management offered, since the future market condition may have huge impact on this strategy and hence, predicted future economic income.NorthPoint Group is a mutual fund management firm who has the preference on investing in Fortune 500 companies, such as EXXONMobil, GM, McDonalds 3M and other large-cap. If we look back to a decade ago, the fund had performed extreme ly thoroughly compared to the market in general (we refer S&P500 to represent the market).Kimi Ford was the portfolio manager in NorthPoint Group, who was concern about whether or not to add Nike, Inc. shares into her fund. Since net income and market share had been fallen from 1997, a new strategy was proclaimed by the Nike management team during the meeting held in June, 2001First, highly priced products are no longer their only target, now they would develop the midpriced segment so that more customers will be able to afford it.Second, another way to boost the revenue is to focus on its apparel line, which they found out to be profitable. Finally, Nike needs to reduce its costs by exerting more effort on expense control. ships company executives were optimistic about the long-term revenue, expecting an 8% 10% growths and earnings growth above 15%.Analysts had different opinion about the company prospects Lehman Brothers suggested a strong buy while UBS and CSFB recommended a h old. Meanwhile, Ford precious to make her own forecast so she developed a discount cash flow to determine that, at a discount rate of 12%, Nike was overvalued at its current price $42.09 and undervalued if the discount rate was below 11.17%. She asked her assistant, Joanna Cohen, to calculate the companys cost of capital precisely.On the report, Joanna Cohen used WACC to calculate the cost of capital, where she adopted book values to obtain a proportion of 27% of debt and 73% of equity. For cost of debt, she took total interest expense divided by average debt balance which resulted lower than treasury yields. For cost of equity, she used 20-year Treasury bond as risk-free rate and 5.9% as market premium. Moreover, she divided each variant by revenue, deciding to use one overall WACC. At the end, she came to a conclusion that the cost of capital for Nike, Inc was 8.4%.

Saturday, May 18, 2019

Ambassadors in Pinstripes

Review of Ambassadors in Pinstripes The Spalding gentlemans gentleman Baseball bout and the nativity of the the Statesn Empire Thomas Zeiler, the author of Ambassadors in Pinstripes the Spalding World Baseball while and the Birth of the American Empire, entertains and enlightens the reader through a descriptive journey of Albert Spaldings efforts to introduce a World Baseball Tour. The bulk of Zeilers book is based off of periodicals, newspapers, magazines, and guides which serves as the groundwork for his book.Albert Spalding is known as a leader a manager of the Chicago White Stockings, a very successful manufacturer of sporting goods, and predominantly as an organizer of tours designed to popularize Americas national punt abroad. Spaldings world tour mission was to send two teams of professional well known beers to Australia, Ceylon, Egypt, Europe, and the environ areas. His marketing techniques and goals for his all American team to play worldwide was a model for many in dustries assay to establish abroad relations.Sports participation also departs a common ground and is a way to fuse without discrimination, such as the warring people of South Africa during the Apartheid. Through this successful tour, Spalding established the pattern of baseballs close connection with globalization and to let the world know of Americas increasingly ambitious exceptionalism in the world. Sports as a tool of diplomacy came of age in the post-World War I world when it caught the attention of politicians and governments as a channel through which to conduct international relations.Across the globe sports get to personified the ideologies of political policies in the 20th century and as we enter the 21st century, sports are becoming an all-important(a) part of the toolbox of a countrys public diplomacy. Sport events that host numerous opposed visitors have impacts on a countrys relationship with foreign publics. Its why organizations and governments seek to attach themselves to popular figures, teams, and events that enhance their standings in the eyes of others.The Olympics for example serves as a way to have world nations together through international sports competitions and encourages further engagement, often in the form of economic benefits through participation and hosting. London is currently hosting the Olympics this year and in preparation back in 2009 the event was predicted to provide economic g venerable at a time of economic need, however hosting the Olympics is an extremely costly worry with the upgrades, new sports facilities, and security that it will cost much, much more than expected.Spaldings World Baseball Tour laid the roots of the new empire and exemplified the join States onto the world stage. It highlighted our countrys economic growth, the look for overseas markets, improvements in communication and transportation, and the rising cultural interactions. Thomas Zeilers main emphasis is on the baseball players and their entourage as tourists who helped disperse American culture abroad and brought global influences back to their homelands.Thomas Zeiler cogitate that because of the immense impact of the World Tour, it was the process of globalization of baseball that laid the structure of the growing American identity. Baseball was used to sell and export the American way. The game associated itself with the values of the American dream. In Americas foreign diplomacy, baseball was used to promote patriotism and nationalism. Sports have shown it has the power to heal old wounds. Sport in South Africa during the Apartheid, kept the multiple races and cultures that make up South Africa apart for almost a century.Apartheid was a system of racial segregation enforced by white Afrikaners, who were the minority, over the indigenous majority. Rugby was the sport that took a mental toll on all South Africans and compete a larger part in the victory of the anti-apartheid movement. The Rugby World Cup was one of the key moments that regulate the worlds impression of the new South Africa. The Rugby World Cup contributed significantly to the knuckle under of foreign investment in South Africa and strengthening of trade and other economic links that had been unmake through the policies of apartheid and the subsequent boycotts and restrictions.The development of the industrialization and the use of resources from across the world created a gateway for Americans. Spaldings initial mission paved the way for global integration opened the door to the sensational play of foreign participants in Americas national pastime. The mass appeal of sports like baseball provides the United States with a social olive branch. Baseball diplomacy helps break the ice between nations that are divide by cultural differences, monetary discrepancies and educational variances.Sports are relevant to the study of foreign relations because it is basically concerned with power, and our sports culture that is driven by the media, boasted by advertising, bankrolled by industrialists, that its reflective of American society. It has played a huge role in projecting American influence abroad. Sports purpose is no long-acting limitied to entertainment it is often intermingling with trade, business, and politics. Hopefully sports will continue as a feature of modern vitality that connects people and continents together.