American Express Research Paper Example | Topics and Well Written Essays - 750 words - 1

American Express - Research Paper Example In business segment, American Express offers options to small business, merchants, and corporations, providing them powerful applications to run small business, card programs and solutions to corporations, and a host of other various merchant products such as merchant accounts and marketing etc. Broadly speaking, customer segment of American Express can be divided into 5 categories, which include U.S. Card Services, International Card Services, Global Network and Merchant Services, Global Commercial, and Corporate & Other services. The customer base of American Express is worldwide; it serves the market wherever it is providing its services through its workforce strength of 58,300 employees (American Express, 2011). American Express is a multi-product firm competing in the financial industry segment with annual revenue of $24.5 billion. Its Cards-in-force are 87.9million in number, and total assets $124 billion. The annual purchase volume of American Express Cards is $620 billion (Am erican Express, 2011). Stock market performance in the NYSE of the American Express for the first-quarter has been declared to the tune of $1.2 billion in net revenue, which is an increase of 33% from 885 million a year back, as reported on 20 April 2011. Diluted income per share was $0.97, recording an increase of 33 percent from $0.73% one year back. The company has reported an increase of 7 percent in the consolidated total income net of interest expense, going up to $7.0 billion from previous year’s $6.6 billion. The company has been able to realize higher income because of increased spending by card members and increased travel commissions and fees, which has offset to some extent reduced interest income because of reduced pay off on loan portfolio (PHX, 2011). Quarters Ended Percentage March 31, Inc/Dec. 2011 2010 ______________________________________________________________________________ Total Revenues Net of Interest Expense $ 7,031 $ 6,560 7 % Net Income $ 1,177 $ 885 33 % Earnings Per Common Share – Diluted: Net Income Attributed Shareholders $ 0.97 $ 0.73 33 % Average Diluted Shares Outstanding 1,198 1,191 1 % Return on Average Equity 27.9 % 18.0 % ______________________________________________________________________________ American Express has gained huge success in bringing regular improvement in the credit quality by reducing its consolidated provisions for losses from $943 million in 2010 to $97 million in 2011. Consolidated expenses also recorded an increase of 19%, going up from previous year’s $4.4 billion to $5.2 billion, which has been attributed towards huge investment in business building and costs incurred on higher rewards. The company recorded an increase in return on average equity (ROE) by 27.9 percent from the previous year’s 18.0 percent (New Release, American Express, 2011). Incidentally, the Board of Directors of American Express Company declared on 23 May 2011 a regular quarterly dividend of $0.1 8 per common share, payable on August 10, 2011 to shareholders of record on July 1, 2011 (American Express, 2011). Major competitors of American Express are Capital One Financial Corporation, Visa Inc., Discover Financial Services, and MasterCard Incorporated, as given below from the stock performance of all of the companies. The American Express Company is leading in TTM sale to the extent of $28,290m while Capital One Fina

Globalization and North East India Essay Example for Free

Globalization and North East India Essay I.Introduction Ever since the term ‘globalization’ appeared for the first time in the second half of twentieth century no other word has meant so many different things to different people and has evoked as much emotions. The forces of globalization affect virtually every country in the world. It has opened the door of many new opportunities as well as formidable challenges. All spheres of life–social, political, cultural and economic–have been subjected to both the positive and negative elements of globalization. With all its promises on the overall qualitative improvement of life and social harmony, some see it as the saviour of universal peace and prosperity. On the other hand, rising mercury of its negative elements some condemn it as a new kind of chaos. While everyone welcomes the new opportunities that has emerged one cannot simply leave those negative elements unattended. Therefore, the main task now is to analyze, understand and manage globalization doing our best to harness its benefits and keep those negative consequences at bay. 1 India joined the club of globalized economy in 1991when its economy is under the spell of fiscal and balance of payment crisis which compel her to initiate several structural adjustment programme and economic liberalization. Since then, India’s share to the global economy is getting larger. Today, looking at overall health of the economy and growth performance2, India seems to have struck the right note of the globalization string. With its vast natural and human resources and ability to synchronize the speed of change taking place in the international market, many have considered the India’s economy as one of the most resilient economy in the world. Now, the most pertinent question arises in the recent years is; has the benefits of globalization disbursed to all the regions of the Indian union? Certainly the answer is NO. India’s attempt to tackle the problems of income inequalities has been going on since independence under the centralized planning system. It, however, failed to provide the necessary growth impetus to the poorer states to reduce regional disparities in any meaningful manner in spite of four decades of economic planning. In the post globalization era, considering the size and diversity of the country, shrinking role of government would ultimately be a failure to achieve the set objective. With the opening of economy, states with better infrastructure facilities, better skill labour and work culture, investor friendly environment and more importantly states which can reform themselves in accordance to the need of the market oriented economy have attracted much of the private investment–both national as well as foreign. These states have grown much faster than states which are not, leading to widening disparities.3 This has posed a great challenge to academicians and polic y makers, even though globalization is an uneven process with unequal distribution of benefits and losses, who must ensure the benefits of globalization be distributed to all the regions/states of Indian union. Secondly, to what extent the high growth rate achieved so far has been translated into development for the well-being of its people? It is all the more necessary to ascertain the magnitude of development because development shouldn’t be seen as mere enhancement of national or personal income as it alone cannot serve the objective of securing the socio-economic equality. High growth rate achieved so far is a big accomplishment as the resources so generated could be utilized for developmental purposes to meet the desired social ends.4 It would, however, be highly injustice and misleading to interpret economic growth and economic development synonymously, yet a popular cynicism among the political circle in particular, as development covers much wider range and value. In short, achievement of higher growth rate should be reflected in terms of quality of life of the people. The failure to realize the value of high growth is the main reason for the rejection of ‘shining India/feel good factor’ slogan of the ruling party in 2004 general election. This implies that the higher growth rate achieved so f ar in the post globalization period could not be translated in terms of improvement in the quality of life of the common people. According to Sen any reform programme should consists of three R’s–reach, range and a reason–which every responsible individual should analyze, understand and act accordingly. The values of high growth often depend on what the size, composition and nature of that growth do to the lives and freedoms of the people involved.5 With the increasing concern of widening of inter-state disparities and lack of development, it is highly imperative to assess the effects of globalization on North East India-a relatively uncharted region of the country-as fifteen years is long enough to give some clear pictures. With this objective, the present study attempts to locate the clues of the following quarries; has the region been able to gain from the benefits of globalization? What are the major issues and challenges confronting or likely to confront in the coming years? What are the unexplored opportunities that can be harnessed? This would require examining the prevalent scenario of the region in the pre and post globalization period. The present study shall cover 1980 to 2005 considering 1991 as the dividing year of the two periods. The study has been organized into five sections including introduction. In section II, a brief profile of NE states has been sketched. In section III, some of the issues and formidable challenges needed to be addressed sooner than the later has been discussed. In section IV, discussed the unexplored opportunities in the region. Finally, we conclude the study in section V . II.North East Profile The North East India comprises of eight contiguous states6 of highly undulating hilly terrains, covering 263,179 sq km which is about 8% of the total geographical area of the country. The region is one of the landlocked regions of South Asia. About 4500 km i.e. 98% of its border is with five different countries of South Asia–Nepal, Bhutan, China, Myanmar and Bangladesh. No other region of the Indian union share common border with so many different countries connecting with the heartland through the tenuous 22 km Siliguri corridor. The region is the home of extraordinarily diverse mosaic of ethnic groups having distinctive social, cultural and economic identity, more akin to their South Asia neighbours than main land India. The total population of the region is about 38 million, 3.8 per cent of the country’s total population, of which Assam contributes 68 per cent of the total population. Assam recorded the highest density of population with 340 per sq. km., which is also higher than the national average of 313 per sq. km., followed by Tripura with 305 per sq. km. Otherwise, the region is sparsely populated with an overall density of population of 149 per sq. km. Table 1 The decennial growth rate recorded in most of the states during the previous decade is higher than the national level of 21.54 per cent. Nagaland recorded the highest growth rate (64.46 per cent), also highest among the states of the Indian union, followed by Sikkim (33.25 per cent) and Meghalaya (30.65 per cent). Only Tripura (16.03% per cent) and Assam (18.92 per cent), two of the most populated states, have recorded lower growth rate than all India level. The region is richly endowed with bio-diversity, hydro-potential, minerals like oil and natural gas, coal, limestone, dolomite, graphite, quartzite, sillimonite etc. and forest wealth. Over 10 per cent of forest products requirement in the country are met from this region only. The region has a very high potential to generate hydropower i.e. about 80 per cent of the total hydropower potential in the country. Arunachal Pradesh alone is expected to generate 2,67,474 MW i.e. 30 per cent of the total available in the country. With varied geo-climatic condition, the region is ideally suited for horticulture, floriculture and other plantation crops. A variety of fruits like pineapples, banana, orange, lemon, mango, papaya etc. grow abundantly in the region. The region is famous for most number of orchid varieties in the country. Tea is the major plantation crop grown in the region and is the largest producer in the country contributing over 95 per cent of the total production. The region is also richly endowed with varieties of medicinal plants having high value in the international market. But, due to the lack of proper infrastructure, transport and communication system and geo-political condition of the region these resources largely remained untapped. Source: Report of the Twelfth Finance Commission, p 61. The region is grossly deficient of infrastructure to tap the available resources and push the economy forward. An examination of the infrastructure index–a composite profile of the availability of physical, social and institutional infrastructure available in the states revealed that all the states of the region are at the lowest rung of the infrastructure index ladder. It shows that the level of infrastructural development in the region is almost negligible. In terms of human development index–a composite index capturing the three dimensions of human development viz. economic, education and health-the region have done reasonably well than most of the states of Indian union. Among the eight states, Assam ranked the lowest, which has been placed in lower middle category and Mizoram in high category while rest of the states are either in high middle or middle category. The success of these states in this regard is mainly induced by the education sector. Apart from Arunachal Pradesh, Assam and Meghalaya the literacy rate in the remaining states, as shown in Table 1, are higher than the national average. The economy of the region primarily depends on agriculture sector contributing over 40 per cent of the income and employ about 70 per cent of the total working population. Although NSDP share of agriculture sector has declined to about 30 per cent, the number of population dependent upon this sector continued to remain high even in the post globalization period. The decline in the NSDP’s share of agriculture sector has been more or less compensated by the increase in the share of service sector. That is, the service sector growth rate during the corresponding period is commendable. Nevertheless, the industrial sector in the region continued to be in pathetic condition. Industrially the region is one of the most backward regions in India. Only Assam, and to some extent Meghalaya, have moved ahead of the rest of the states in terms of industrial development whose industrialization centered on tea, oil and timber. An examination on the overall annual compound growth rate of NSDP in the region revealed that there is a slight improvement in post globalization period though varies from stat to state. Source: http://mospi.nic.in/rept%20_%20pubn/ftest.asp?rept_id=nad03_1993_1994type=NSSO Note: * At 1980-81 prices, ** From 1993 to 2002 only, †  at Current Price, a denotes Acceleration, d denotes Deceleration During the decade of 80s only Arunachal Pradesh and Nagaland experienced higher annual compound growth of NSDP than the national level. However, in the post globalization period i.e. 1991-2002, Meghalaya, Nagaland and Tripura have performed better than the national level. The growth rate experienced in these states is not only higher but also accelerating. Though the NSDP growth rate of Manipur is lower than the national level but higher than the previous decade and is accelerating. While Assam’s growth rate is lower in the post globalization but grows at an accelerating rate which is a positive sign. In the post globalization period the growth performances in the region have improved marginally. The higher growth rate of NSDP in the region is mainly induced by higher and accelerating growth rate of service sector. The higher growth rate of NSDP experienced in some of the states is not commensurate with the growth rate of per capita income. The per capita income growth rates of all the states, baring Tripura, falls below the national level in the corresponding period. While Arunachal Pradesh, Assam and Nagaland have worsened, the performance of Manipur, Meghalaya and Tripura seem to be relatively better than the previous decade. The lower growth rate of per capita income experienced may be attributed to high growth rate of population, particularly poorer section of the society. The percentage of population living below the poverty line in the region continued to remain high. Only Mizoram seems to have done exceptionally well in poverty eradication where the percentage has declined from 36 per cent in 1983 to 19.47 per cent in 1999-2000. In the remaining states there is only a marginal decline in poverty ratio. In 1983, the percentage of population living below the poverty line at national level is much higher than that of all the states of the region. It is just the reversal in 1999-2000-all the states other than Mizoram have higher percentage than national level of 26.1 per cent. Over one-third of the population is still consists of the most vulnerable section of the society. Further, an examination on the per capita per month consumption expenditure revealed that the inequality in the per capita monthly consumption expenditure has also increased in spite of the improvement in the growth performance in the post globalization period. In 1993-94, Assam has the lowest per capita per month consumption expenditure followed by Manipur and Sikkim. These three states are even lower than the national level of Rs. 328.18 per month. However, in 1999-2000, only Assam and Sikkim experienced lower per capita per month consumption expenditure than that of national level of Rs. 590.98 per month. The increase in consumption expenditure in the globalization era is quite impressive. At the same time, inequality in consumption expenditure, as revealed by the Gini coefficient8, has also increased in most of the states which is an indication of widening disparities among different sections of the society. This implies that the benefits of higher growth rate experienced, though marginally, in the post reform period have not been tickled down to the poorer sections of the society in the desired pace and the problem of income inequality within the state has worsened. An overall scenario of the region in the post globalization period is not very impressive as in the case of other region of the Indian union. This may be attributed to the prevailing geo-political condition in the region and attitude of the central government in tackling the issues of the region. In the following section we shall examine some of the issues and challenges which required an immediate attention. III.The Challenges Being one of the most neglected regions of the Indian union, overall state of affairs in the region is quite alarming. The unattended issues and problems of the past are being accumulated, multi-layered and have become multifarious. Over and above, the mounting pressures of emerging challenges of rapid transformation need to be countered. The clock is ticking fast and situation in the region is very delicate which may explode anytime from now if not tackled carefully. At this juncture the old habit of alibis and hinting would only aggravate the maladies of the past and swell negative elements of the globalization. Instead, it is the time to think and act collectively. The region has more issues to be addressed and challenges to face than any other parts of the country. Of which, the three most important areas which require immediate attention are insurgency, infrastructure and governance. All the other issues are derivatives which would dry up once these three are addressed. a.Insurgency The problem of insurgency in the region has a long history. The insular politics and Delhi centric approach of the Indian government is at the core of much of the discontents, widespread criticism, feelings of subjugation and notion of being colonized. There is a constant fear in the minds of the people that their identity is being eroded due to the submergence into the vast ocean of Indian humanity.9 The people of the region started alienating themselves and the feeling of self-determination started to germinate. With the aim of preserving their own identity various ethnic groups inhabiting in the region, undisturbed for centuries, began to differentiate among each other severing the local ties and affinities and started to struggle with arms.10 Thus, insurgency has mushroomed in the region and the secessionist movements, either for sovereignty or for separate homeland, began to lock horns leading to a vertical division among various ethnic groups. Therefore, prior to any policy pro gramme to resolve the problem of insurgency in the region, the political processes that has been framed and pursued to convert a breeding ground of insurgencies must be reversed first. Simultaneously, the attitude and security obsess mindsets of the central government should also change and embrace the region with open arms so as to restore the lost confidence of the common people. Insurgency is the major problem inflicting the region. With the passage of time it has increasingly become more complex and difficult to understand as their objectives, role and activities varied widely.11 In the name of nationalist movement they were involved and interfered in every state’s affairs including household chores, like a moral police, of their people. Each insurgent group runs parallel government. In a way, apart from Sikkim and Arunachal Pradesh, all the remaining states have multiple governments. The problem of insurgency has become the stumbling block in the course of development. It foundered every development strategy and hampered all the developmental works. Kidnapping, extortion, killing, bandh, strikes and curfews have become the order of the day. At the same time, the numbers and activities of the plain criminals masquerading as insurgents have also increased alarmingly. Today, the region has become the killing field and specialized in the export to death bodies, if not the manufacturing products. In short, the region has reached the pinnacle of the industrialization of insurgency and criminalization process. It would not be easy to find the solution. However, keeping in mind the rising global terrorism, it would be wise to work on a holistic approach for amicable solution sooner than the later. At the same time, what every insurgent group, operating in the region, should realize is that the formation of separate homeland or attainment of more autonomy or sovereignty is not the solution because within itself formation of new group with new demand can not be ruled out. b.Infrastructure The rich natural and human resources available in the region could not be utilized to the full extent mainly due to the geo-political condition, including ever-deteriorating law and order, which has a lot of implication on the development of must needed infrastructure. The negligence of the central government in the past and due to the problems of insurgency at present resulted into the gross deficiency of infrastructure in the region. This has crippled the free flow of factors as well as products. In such a situation, it would be hard for the region to accrue the benefits of globalization. It is also not surprising to find the lack of FDI inflow in the region. During January 2000 to Mach 2006 the region received only 9 million US dollar i.e. 0.04 per cent of the total FDI inflow in the country. The lack of infrastructure, as revealed by the infrastructure index given in Table 2, has not only spoiled the prospect of economic development but has also created a horizontal division amon g various ethnic groups affecting the fabrics of social harmony in the region. All the â€Å"constituent states of the region are internally locked–themselves locked and locking out others, unable to connect with each other physically in terms of poor transport links, and more seriously, unable to make connections intellectually and emotionally with their closest neighbours, or even with and among their own people.†12 It has displaced the common understanding and linkages for peaceful coexistence and regional cooperation. In order to reconnect the lost connectivity, trade and commerce and more importantly to foster emotional attachment among various ethnic groups inhabiting in the region infrastructures like roads, transports, communications electricity, banking etc. must be developed adequately. Such exercise would not only enlarge the base for the growth of the economy in the region but also enhance the regional cooperation-an engine of growth in this era of globalization. Underdevelopment breeds insurgency and insurgency retards development. Th is two are mutually reinforcing. This is a classic case of vicious cycle of underdevelopment-insurgency-underdevelopment. Therefore, any policy programmes either to resolve the problems of insurgency or development of much needed infrastructure should go concurrently and not sequentially as it hampered the progress of one another. Further, as it has been asserted in the Planning Commission report on Transforming the North East, the approach of the central government should change from â€Å"planning for the North East to planning with the North East†.13 This implies that, under the prevailing circumstances mere allocation of funds or implementation of new policy would not suffice to tackle the problems in the region. Considering the emotional sentiments of the inhabitants and sensitivity of the issues, the region must be handled with care. Every developmental programme for the region should have the consent of the inhabitants and needs to be executed with sincerity without delay. c.Governance â€Å"The state is responsible for the creation of conducive political, legal and economic environment for building individual capabilities and encouraging private initiatives.†14 It would, however, depend on the quality of the governance–mechanism, processes, systems, structures and institutions that guide the social, economic and political relationship. Good governance exercises its legitimate political power in a manner that is perceived as equitable, non-discriminatory, socially sensitive, participatory, transparent and accountable to the people at large. This includes not only the process of transformation of human and natural endowments to a socially desired ends but also reveals the long term vision and commitment of the state to secure human well being and sustained development of the people.15 The state of governance in the region is in pathetic condition. Government machinery is on the brink of collapse. Corruption, squandering of public funds, deteriorating law and order, lack of transparency and accountability, bureaucratic rigmarole, insensitivity and so forth are quite rampant in the region. There is widespread allegation of insurgency-government officials-bureaucrats-politician nexus, including law enforcing agencies, and siphon off public funds. All this has eroded the individual capabilities and institutional capacities to meet the social objectives. Until and unless the quality of governance has been improved, no matter how much is the fund earmarked for whatever the policy programme initiated would not be successful and only the common people have to bear the brunt. Taking into consideration of the paradigm shift in the development strategy and the amount of funds allocated16 in recent time, we may no longer be able to blame the central government in the near future. The present state of affairs in the region is past deed of the central government and what the future generation will face would be decided by what our government has done today. IV.Opportunities The economy of the region has been disrupteded by the forces discussed in the preceding section in spite of her rich natural resources. Besides the natural resources, many new opportunities have also emerged with the changing contour of world economy that can boost the economy of the region. But, the need of the hour is to focus on those areas which would lead to growth of the economy, develop the sense of participation and can extinguish the social and political chasm. The two main areas that can boost the economy are as follows: a.Tourism Tourism is one sector where the region has comparative advantage. This industry is highly competitive where the tourists have a wide range of choices and look for good value of their money. With bountiful nature’s breathtaking scenic beauty, salubrious climatic conditions, extraordinarily diverse rich art and cultural heritage of the people, this region can become a hotspot for eco and adventure tourism. Tourism industry involves a vast network of business activities relating to attracting, receiving, accommodating, managing and servicing of tourists. These include hotels, restaurants, transport agency and several other related activities. The development of this industry would promote national integration and international understanding, generate employment and revenue and provide prospective buyers for local manufactured products especially handloom and handicraft products–a dyeing industry due to lack of access to market. Tourism can generate more employment per million of rupees spent than any other activities. It can generate jobs in the remotest corners for unskilled to highly specialized skilled workers which would help in the realization of plan objectives. It would also enlarge the base of locally manufactured products. All this, however, would be possible only when there is well-developed infrastructure like transport and communication and sense of participation of the people of the region. b.Border trade The lack of connectivity and access to market, the main causes for under utilization of resources and weak resource-industry linkages, have set the economy of the region by half a century behind. The region has lost the markets in her neighbourhood, particularly in Bangladesh, due to partition, insurgency and diplomatic strains and tensions. Due to the peripheral location and stiff competition from mainland industries having better access to critical inputs like finance, technology and management, the base of traditional manufacturing in the region has been eroded leading to deindustrialization. While resource base can support a variety of industries at all scales, the existing industrial structure, dominated by small-scale demand based industries has not been developed proportionately. This has widened the gap between resource base and industrial structure in the region. Further, due to the restriction of free movement of men and material across the border, the notion of isolation h as developed in the minds of the people. It is in this context, there is a strong argument to develop border trade. In this increasingly borderless world, establishment of border trade would not only provide an opportunity to revive the local manufactured units but also serve as a transit corridor for the mainland big industrial units to explore the vast Asian market. This would also bring the centrality and visibility of the otherwise peripheral north eastern region.17 It is with this vision that ‘look east policy’ was initiated in 1991. Unfortunately, as old habits die hard; the central government still continues to live in the shadow of security obsessed mindset and prefers inward looking approach. As a result, even after fifteen years of implementation of border trade agreement, it has failed to invigorate the region’s trade with their neibhouring countries. As a result, India’s look east policy has, by and large, bypassed the region. The percentage of trade with neighbouring countries have zoom up to 8 per cent of the country’s total volume of trade in 2003-04 from a mere 1.7 per cent in 1987-88. However, over two-third of the total volume of trade with these countries flow via Bay of Bengal while the land borders of the region have been left for transit corridors for illegal trade . The tepidity of the central government in implementation of the policy has only led to rise in the porosity of these borderlands. An impressionistic assessment reveals that there is a rise in negative activities like cross-border insurgency, gunrunning, smuggling drugs, narcotics and AIDS, money laundering, trafficking women, illegal immigration etc. which further add to the existing multifarious problems in the region. Conclusion Globalization has become the most potent force emerged in recent time. It virtually affects every walk of lifepositive or negative. Unlike other regions of the Indian union, North East India is more likely to swamp by its negative effects. The region is at the throes of discernible crisis. Since 1991, there has been increase in inequality and unemployment, decline in the quality of the governance, rise in smuggling, trafficking, illegal immigration, corruption, squandering of public funds, escalation in insurgency related activities, etc. These have led to underdevelopment and erosion of the capacity of the individual and quality of life. A sense of deprivation has developed particularly among the educated youths of the region. The clock is ticking fast and fuse is not long. It is time to work on a holistic approach to resolve problems in the region. Notes 1. Chanda, Nayan, 2003, â€Å"What is Globalization? Coming Together: Globalization Means Reconnecting the Human Community†, YaleGlobal Online, http://www.globalenvision.org/library/8/567. 2. Recently it has been argued that the turning point of higher growth rate in India was 1980 but not 1991 as perceived by many. For more details see Nayyar, Deepak. 2006. â€Å"Economic Growth in Independence India: Lumbering Elephant or Running Tiger?†, Economic and Political Weekly, vol. 41, no. 15, pp. 1451-1458. 3. Some authors even argued that coastal states with open port facility have outperformed non-coastal states in the post globalization era. For more detail see Kishore, Adharsh. 2002. Towards an Indian Approach to Globalization, http://www.rba.gov.au/PublicationsAndResearch/Conferences/2002/kishore.pdf. 4. Sen, Amartya, 2005, â€Å"The Three R’s of Reforms†, Economic and Political Weekly, vol. 40, no. 19, p. 1. 5. ibid., p. 1. 6. Sikkim becomes the member of North East Council on December 2002 after an amendment of the NEC Act 1971. Since then all development purposes of the state has been treated at per with the other seven states of the region. However, the addition of Sikkim in the North Eastern Region is yet to be reflected in the literature of NER. 7. The Report of the Special Group on Targeting Ten Million Employment Opportunities per Year over the Tenth Plan Period has viewed that Current Daily Status (CDS) is the better measure to capture unemployment than Usual Principal and Subsidiary Status (UPSS). 8. The National Human Development Report 2001 provides the estimate of Gini Coefficient for rural and urban area only. It does not provide the combine estimate of the two. 11. For more detail analysis see Roy, Sanjay K. 2005. â€Å"Conflicting Nations in North-East India†, Economic and Political weekly, vol. 40, no. 21, pp. 2176-2182. 12. Prabhakra, M. S. 2004. â€Å"Is North-East India Landlocked?†, Economic and Political Weekly, vol. 39, no. 42, p. 4608. 13. GOI. 1997. Transforming the North East: Tackling Backlogs in Basic Minimum Services and Infrastructure Needs, High Level Commission Report to the Prime Minister, Planning Commission, http://planningcommission.nic.in/reports/genrep/ne_exe.pdf, p. 2. 14. GOI. 2001. National Human Development Report, Planning Commission, http://planningcommission.nic.in/reports/genrep/nhdrep/nhdreportf.htm, p. 114. 15. ibid, p. 114. 16. Apart from all the constituent states being classified as Special Category States, establishment of NEC and induction of DoNER speaks the volume of fund allocated to this region. 17. Verghese, B. G., op. cit. Reference Ahluwalia, Montek S. (2000): â€Å"Economic Performance of States in Post-Reforms Period†, Economic and Political Weekly, vol. 35, no. 19, pp. 1637-1648. Bajpai, M. (2002): â€Å"A Decade of Economic Reforms in India: The Unfinished Agenda†, Working Paper no. 89, Center for International Development, Harvard University, http://www.ksg.harvard.edu/CID/cidwp/089.pdf. Barbora, Sanjay (2006): â€Å"Rethinking India’s Counter-insurgency Campaign in North-East†, Economic and Political Weekly, vol. 41, no. 35, pp. 3805-3812. Baruah, Sanjib: â€Å"The Problem†, http://www.manipuronline.com/North-East/November2005/theproblem23_2.htm. Bhattacharya, B. B. S. Sakthivel (2004): â€Å"Regional Growth and Disparity in India: A Comparison of Pre and Post-Reform Decades†, http://iegindia.org/worksakthi244.pdf. Chanda, Nayan (2003): â€Å"What is Globalization? Coming Together: Globalization means reconnecting the human community†, http://www.globalenvision.org/library/8/567. Ghosh, Madhusudan (2006): â€Å"Economic Growth and Human Development in Indian States†, Economic and Political Weekly, vol. 41, no. 30, pp. 3321-3329. GOI (1997): â€Å"Transforming the North East: Tackling Backlogs in Basic Minimum Services and Infrastructure Needs†, High Level Commission Report to the Prime Minister, Planning Commission, http://planningcommission.nic.in/reports/genrep/ne_exe.pdf. GOI (2001): â€Å"National Human Development Report†, Planning Commission, New Delhi, http://planningcommission.nic.in/reports/genrep/nhdrep/nhdreportf.htm GOI (2002): â€Å"Report of the Committee on India Vision 2020†, Planning Commission, New Delhi, http://planningcommission.nic.in/reports/genrep/pl_vsn2020.pdf. GOI (2004): â€Å"Report of the Twelfth Finance Commission (2005-10)†, Ministry of Finance, http://finance.rajasthan.gov.in/doc/12fcreng.pdf. Grare, Frederic Amitabh Mattoo (2003): Beyond the Rhetoric: The Economics of India’s Look East Policy, Manohar Publishers Distributors, New Delhi. Gupta, K. R. (2005): â€Å"Liberalization and Globalization of Indian Economy†, Gupta, K. R. (ed.) Liberalization and Globalization of Indian Economy, vol. VI, pp. 304-315, Atlantic Publishers and Distributors, New Delhi. Humanshu (2007): â€Å"Recent Trends in Poverty and Inequality: Some Preliminary Results†, Economic and Political Weekly, vol. 42, no. 6, pp. 497-508. Khanna, Sushil (2005): â€Å"Economic Opportunities or Continuing Stagnation†, http://www.manipuronline.com/Economy/November2005/stagnationoropportuny18_1.htm. Kishore, Adharsh (2002): Towards an Indian Approach to Globalization, http://www.rba.gov.au/PublicationsAndResearch/Conferences/2002/kishore.pdf. Kurian, N. J. (2000): â€Å"Widening Regional Disparities in India: Some Indicators†, Economic and Political weekly, vol. 35. No. 7, pp. 538-550. Nayyar, Deepak (2006): â€Å"Economic Growth in Independent India. Lumbering Elephant or Running Tiger?†, Economic and Political Weekly, vol. 41, no. 15, pp.1451-1458. NSSO (1997): Employment and Unemployment in India, 1993-94, 50th Round, Report No. 409. NSSO (2006): Employment and Unemployment Situation in India, 2004-05, 61st Round, Report No. 515. Prabhakra, M. S. (2004): â€Å"Is North-East India Landlocked†, Economic and Political Weekly, vo. 39, no. 42, pp.4606-4608. Ramachandran, H.: â€Å"Governance and People’s Participation†, 15 Background Paper: Vision 2020, http://planningcommission.nic.in/reports/genrep/reportsf.htm. Roy, Sanjay K. (2005): â€Å"Conflicting Nations in North-East India†, Economic and Political Weekly, vol. 40, no. 21, pp. 2176-2182. Sen, Amartya (2005): â€Å"The Three R’s of Reforms†, Economic and Political Weekly, vol. 40, no. 19, pp. 1971-1974. Sinha, A. K. (2005): â€Å"India: Steps Towards Liberalization and Globalization†, Gupta, K. R. (ed.) Liberalization and Globalization of Indian Economy, vol. VI, pp. 315-330, Atlantic Publishers and Distributors, New Delhi. Sinha, Aseema: â€Å"Globalization, Rising Inequality, and New Insecurities in India†, http://209.235.207.197/imgtest/TaskForceDiffIneqDevSinha.pdf Upadhyay, Archana (2006): â€Å"Terrorism in the North-East: Linkages and Implications†, Economic and Political Weekly, vol. 41, no. 48, pp. 4993-4999. Verghese, B. G.: â€Å"Unfinished Business in the North East: Pointers Towards Restructuring, Reform, Reconciliation and Resurgence†, Seventh Kamal Kumari Memorial Lecture, http://www.freeindiamidia.com/economy/19_june_economy.htm.

Trends in Fast Food Consumption

Trends in Fast Food Consumption Fast food is food which is prepared and served at a fast-food restaurant or shop at low cost. Fast food is often processed and prepared in an industrial fashion (i.e., with standard ingredients and methodical cooking and production method). It is served usually in bags or cartoons in a manner in order to save costs. Fast food outlets often provide take-away food in addition to a dine-in service. Drive-through, could be found in some fast food restaurant, allow food to be ordered and delivered without leaving the car to speed up the service. Fast food is usually finger food that can be eaten quickly and without cutlery needed (using bare hand). Fast food often offers fish and chip, sandwiches, hamburger, french fries, chicken nuggets, pizza, and ice cream. Moreover, many fast food restaurants offer some other easily consumed choices like, mashed potato, or salads. Chinese cuisine, although the food could be served as take-away, is not always a fast food. Because of its convenience, fast food is successfully popular in most modern society; however, it is often criticized for having alleged shortcoming, for example: It has poor nutritive value, It contributes to obesity, It uses exploitative advertising and marketing. The unhealtiness of fast food, pointing one, comes from cooking method. Fast food tends to be deep-fried which resulting high amount of fats and calories. To illustrate this complaints, the documentary film Super Size Me, had the director eat nothing but McDonalds without exercise within 30days. Due to the combination of food and lack of exercise, his health was impacted. In order to overcome those health issues, some of the largest fast food chains are beginning to incorporate healthier alternatives, adding salads and fruits to their menus. However, some people are unbelieving about this, seeing it as tokenistic and commercial measure, rather than appropriate reaction about peoples health. The rapid growth of the fast food industry during the last decade has added another dimension to the change in food consumption pattern of Malaysians. The Westernisation of global eating habits, make possible through food imports, fast food and rising consumption of sugars and animals fats, is often blamed for the rising epidemic of obesity and associated chronic disease (Gopalan C. 1992). The fast food industry in Malaysia had a sizzling growth throughout most of the 1990s. The total sales were RM1 billion (US$ 263million) in 1997 increasing to RM 1,3 billion (US$ 340 million) in 2000(The Edge, 2001). Some of the major fast food companies in Malaysia and their estimated sales for the year 2000 are shown in table 1. Table 1 Fast food companies in Malaysia a selected list Brand (origin) Year established Number of outlets Market share(%) Sales (US$million)à ¢Ã¢â€š ¬Ã‚   KFC (USA) 1973 294 45 152.3 McDonalds (USA) 1982 141 30 92.0 Pizza Hut (USA) 1984 85 8 31.6 A W (USA) 1961 44 4 19.1 Marrybrown (local) 1981 88 4 NA Sugar Bun (local) 1981 45 * 9.5 Kenny Roger (USA) 1994 25 * 9.5 *all others combined = 9% à ¢Ã¢â€š ¬Ã‚   US$ 1.00 = RM 3.80 NA not available. Source : The EDGE. (2001) Still sizzling? Survey Guide, pp. 59-63 Psychologically, adults develop their independence, and try and fit into their social circle. Peer and working pressure may cause them to choose soft drinks instead of milk, skipping meals because of their duties. Adults want to develop independence and make choices for themselves (they choose what and where to eat and drink). Truswell AS (ABC of Nutrition, 1999) has suggested the following eating behaviour as common in adults, such as, skipping meals (being on a diet), eating snack, consuming high amount of fast food, consuming convenience food, drinking high amount of alcohol and soft drinks. Trends in Food Consumption Income and population, coupled with changes in lifestyle to one of urbanisation, have increased the demand for food and convinced changes in food habits, food purchasing, and consumption patterns (Noor MI, 2002). Food balance sheet data are useful to indicate trends of food intake pattern rather than consumption per se in the absence of nation-wide food consumption surveys. The intake pattern of calories increased from 2430 kcal person-1 day -1 in 1961 to 2990 kcal person-1 day-1 in 1997, protein from 49g person-1 day-1 to 61g person-1 day-1, and fat from 49g person-1 day-1 to 87g person-1 day-1 (Food and Agriculture Organization, (1961-1997)). The food balance sheet also revealed that, from 1961 to 1997, the amount of calories obtained from cereals decreased from 61% to 41%, meanwhile, calories from meat, eggs and fish increased from 6.2% to 14,3% sweeteners from 9.5% to 18%, and oils and fats from 11.% to 14.8% (Table2) Table2 Changes in sources of calories in Malaysia, 1961-1997 Year 1961-63 1970-72 1979-81 1988-90 1997 Cereals 61 57 48.6 40.0 41.0 Starchy roots 1.9 1.9 1.9 2.9 1.9 Vegetables fruits 4.2 3.8 3.8 3.8 3.8 Pulses 1.0 1.0 1.0 1.0 1.0 Meat, fish, eggs 6.2 6.7 9.5 12.4 14.3 Milk, excluding butter 2.9 2.9 3.8 3.8 3.8 Sweeteners 9.5 12.4 12.4 13.2 18.0 Oils fats 11.4 12.4 17.1 21.0 14.8 Miscellaneous 1.9 1.9 1.9 1.9 1.4 Source : Food and Agriculture Organization (FAO), (1961-1997). The Ministry of Agriculture reported that per capita consumption of major food commodities between the years 1985 and 2000 as shown in table 3. The trend learnt, where there is a shift towards an affluent diet that is high in energy-dense foods and rich in fats at the expense of complex carbohydrate foods, is consistent with the increased national wealth. The report also revealed a doubled increase in imported food from US$ 909 million in 1985 to US$ 2 billion in 1995. Food intake studies In the absence of nation-wide food consumption surveys, this report is able to highlight some selected studies which are conducted in the last several decades. A household food consumption survey in poverty villages reported a mean energy intake of 1874 kcal, of which 12% if the total energy was obtained from protein, 18% from fats and 70% from carbohydrates (Chong YH, Tee ES, Ng TKW, et al. 1984). A study by Chee SS, Ismail MN, Ng KK, et al.(1997). In poor villages, using 3-day food record, reported a similar mean energy intake of 1871 kcal with a difference in the constituents, 13% of the total energy from protein, 20% from fats and 67% from carbohydrates. Their study also expressed a significant difference in mean energy intakes of urban (1718 kcal) and rural woman (1711 kcal) were similar, fat contributed 30% of the total calories in the urban subjects compared with 29% in the rural counterparts. An examination of the fat composition of the Malaysian urban populations diet by che mical analysis, using a 7-day rotation menu, revealed that the diet provided 2300 kcal obtained from 66g of total fat ( 51g of vegetable fats and 15g of animal fats), 36g of protein and 360g of carbohydrates (Tony NKW, 1995) Table 3 Per capita consumption (kg year-1) of major food commodities, 1985-2000 Year Item 1985 1990 1995 2000 Crops Rice 102.2 89.8 86.9 85.7 Vegetables 42.4 45.4 48.5 52.0 Fruits 39.7 44.3 49.9 53.5 Livestock Beef 2.4 3.2 4.3 5.3 Mutton 0.4 0.4 0.6 0.6 Poultry 14.6 19.0 30.0 35.3 Pork 10.1 12.0 13.2 8.1 Eggs 11.4 15.7 16.4 16.8 Milk* 37.2 37.7 51.5 53.0 Foodfish 33.4 34.8 39.1 49.0 Food imports (US$ million) 909 1205 2017 NA *Milk per capita consumption in litres per year. NA not available. Source : Ministry of Agriculture. (1999)

Go Ask Alice Essay -- essays research papers

Go Ask Alice, written by an anonymous author, is a diary kept by a fifteen-year-old drug user. The author, through this book, doesn’t wants his readers to look for advise in it, but to learn about the real world in which some teenagers have to live through. Alice, the main character, made the worst mistake ever and radically changed her life around to fit in with the crowd . She is soon exposed to drugs, sex and violence. It is a battle that Alice can win, but sometimes as much as you want something, the environment around you can pull you back. The author emphasizes the fact that you should never trust anyone, not even your own shadow. You never know what life has prepared for you, and sometimes it’s not always the best. The fact that someone is your friend doesn’t mean they can’t become your enemy.   Ã‚  Ã‚  Ã‚  Ã‚  This book mainly takes place in Chicago, during the 60’s era. Alice is a young teenager who lives a normal life and has a good up-bringing. Her family gives her all the support to succeed and is always there for her. She loves boys, wearing nice clothes, and basically being your average everyday girl. As she moved into a new town, she began making new friends and one of those was Jan. She looks like a nice and popular girl. Jan has a way of influencing others into new trends and Alice is so excited to be accepted by her popular crowd, that she begins spicing up her lifestyle. Chris is another one of her new friend an...

Explain how an organisation could ensure its staff selection procedure promotes equal opportunities

An organisation can ensure the selection equal to making sure it is non-discriminatory. This means that all staff are selected by their ability in work ethics and their resume rather than protected characteristic, such as; age, marital status, sexual orientation, race, disability, religion and etc. For example, an interviewer cannot choose a candidate based on their race. All candidate are given a fair interview procedure. This can be done by the interview panel being mixed, having pre-listed questions or having interviews at different times and an accessible location. When regarding advertisement the organisation would need to focus on making their platform is diverse in order for it to be open up to the wide audience. The advertisement should not be limited to particular cultures or language. It should be based on the candidate resume and work ethic. Therefore, it is vital that the organisation are aware of the language they are using when advertising. The organisation having mixed panel would enable an equal chance for the interviewee because the others might balance it out and focus on the skills and qualities of the interviewee. The mixed panel consists of having a diverse panel, such as; gender, culture, disability, age and ethnicity. By having a mixed gender and culture panel can ensure that the interviewee is protected from prejudice viewpoint. An example to show the effectiveness of mixed panel interview in a selection procedure would be one interviewer having a prejudice feeling towards the interviewee and hopefully, the others can balance it. Thus creating a fairer interview for the interviewee. The one-to-one interview can cause hostility and less fairness than a mixed panel because it enables the interviewer to be in control. Whilst mixed panel has a majority decision. A second interview process that the organisation would use to make sure that their staff selection procedure is equal is having pre-listed questions. Pre-set questions make sure that everyone being interviewed is asked the same questions in order to promote equality. It made sure that the interviewer cannot ask questions that discriminate against the interviewee. For example, women being asked their being asked about their marital status. A pre-listed question would make it equal and easy to judge between the interviewees because all of the candidates would be asked the same questions. Therefore, eliminating prejudice or discriminatory questions the interviewee may be asked by the interviewer. This is because pre-listed questions are already determined questions. Thus making it standardised and more equal for the interviewees because they would be all be asked the same questions and none of them would be discriminated or given special treatment. The last interview procedure is having an interview at different times and if possible for the organisation to have its inaccessible locations. Interviews should be held in a range of times. This would granted that everyone has the time to go for an interview. It is not limiting the number of interviewees. Avoiding different slots such as 3pm-4pm due to parents picking up their children from school. For the location, it is not necessary to have five different locations but the location should be clear and if possible in more than one place. Wheelchair users should be able to access the building in order to give them an equal chance of applying for the job. Thus making sure that the organisation is promoting equality in their staff selection procedure. When advertising for job applicants the organisation to make sure that there advert is not gender restricted. This means that the advert should not be seeking one gender over the other. Using one word such as ‘waitresses needed’ can imply that the applicants must only be female rather than a mixed gender. To overcome this the organisation should use unisex words to describe professions, such as; doctors, actors, teachers, bar worker and etc. By doing this the organisation would not be limiting the number of applicants because they have opened the advertisement to both genders. It is vital that an organisation is aware of the advertising platform they are using because if they were to advert in specific broadcasting which would limit those that are not familiar with it. For example, if the organisation choose to advertise in a French newspaper. This would disadvantage those that want to apply for a job that is not familiar with the newspaper. Nevertheless, the advert should not demand a person that has a mother tongue that is French. This is due to that there are people that can speak fluently in French, however, their native tongue is not of French. The advert should head in a direction that says a ‘looking for a person fluent in French. ’ This would enable people with knowledge in French to apply. In general, the organisation should be aware of the language they use when advertising and the platform in order to promote an equal opportunity for all candidates applying for the job.

Buffalo Hunt Essay

It was one sunny hot afternoon, when First Nation people gather and tried to observe for buffalo. They are thinking of strategies and steps on how they would kill for it. I even saw that they used a telescope in order to watch and look in a clear view. I heard conversation in which everyone was giving an opinion on what they saw. Kicking Bird and his troupe decided to buffalo hunt. Hunting is a big part for First Nation people. It is a ritual doing or a tradition. It is an ancient and time-honoured tradition, which helps us stay in touch with our roots. It also allows us to experience the link between men and animal in an intimate way, and to procure our food more directly .They hunts to live, and live to hunt. Later on, they went back to their places and tell the community that they will go for buffalo hunting. I had seen that their families are very supportive and happy. While the hunters are getting ready, everyone was excited and was not able to hide the feelings on how hunting is important in their tradition. They all started to gather all their weapons used for hunting. I have witness how their family and friends gave them the courage, strength and prayers that they needed. The yelling and loud voices of the people made me feel alive. The hunters started to leave with a passion in their heart on what result may it be. While on the way to/

Writing Topics for an Essay Developed With Analogies

Writing Topics for an Essay Developed With Analogies An analogy is a kind of comparison that explains the unknown in terms of the known, the unfamiliar in terms of the familiar. A good analogy can help your readers understand a complicated subject or view a common experience in a new way. Analogies can be used with other methods of development to explain a process, define a concept, narrate an event, or describe a person or place. Analogy isnt a single form of writing. Rather, its a tool for thinking about a subject, as these brief examples demonstrate: Do you ever feel that getting up in the morning is like pulling yourself out of quicksand? . . .(Jean Betschart, In Control, 2001)Sailing a ship through a storm is . . . a good analogy for the conditions inside an organization during turbulent times, since not only will there be the external turbulence to deal with, but internal turbulence as well . . ..(Peter Lorange, Leading in Turbulent Times, 2010)For some people, reading a good book is like a Calgon bubble bathit takes you away. . . .(Kris Carr, Crazy Sexy Cancer Survivor, 2008)Ants are so much like human beings as to be an embarrassment. They farm fungi, raise aphids as livestock, launch armies into wars, use chemical sprays to alarm and confuse enemies, capture slaves. . . .(Lewis Thomas, On Societies as Organisms, 1971)To me, patching up a heart thatd had an attack was like changing out bald tires. They were worn and tired, just like an attack made the heart, but you couldnt just switch out one heart for another. . . .(C. E. Murphy, Coyote Dreams, 2007) Falling in love is like waking up with a coldor more fittingly, like waking up with a fever. . . .(William B. Irvine, On Desire, 2006) British author Dorothy Sayers observed that analogous thinking is a key aspect of the writing process. A composition professor explains: Analogy illustrates easily and to almost everyone how an event can become an experience through the adoption of what Miss [Dorothy] Sayers called an as if attitude. That is, by arbitrarily looking at an event in several different ways, as if if it were this sort of thing, a student can actually experience transformation from the inside. . . . The analogy functions both as a focus and a catalyst for conversion of event into experience. It also provides, in some instances not merely the To discover original analogies that can be explored in a paragraph, essay, or speech, apply the as if attitude to any one of the 30 topics listed below. In each case, ask yourself, What is it like? Thirty Topic Suggestions: Analogy Working at a fast-food restaurantMoving to a new neighborhoodStarting a new jobQuitting a jobWatching an exciting movieReading a good bookGoing into debtGetting out of debtLosing a close friendLeaving home for the first timeTaking a difficult examMaking a speechLearning a new skillGaining a new friendResponding to bad newsResponding to good newsAttending a new place of worshipDealing with successDealing with failureBeing in a car accidentFalling in loveGetting marriedFalling out of loveExperiencing griefExperiencing joyOvercoming an addiction to drugsWatching a friend destroy himself (or herself)Getting up in the morningResisting peer pressureDiscovering a major in college

buy custom Custom Coursework essay

buy custom Custom Coursework essay According to William S. Wallaces book Field Manual 3-0; Headquarters, Department of the Army, simultaneity involves concurrent combination of defensive as well as offensive tasks which will effectively destabilize the enemy and ensure that peace is achieved. The operational commanders must be well versed in information about the scope of operation of the enemy and, civil conditions. They are also obliged to establish the most appropriate actions that will stall the enemy's operations and the enemy's effective synchronization (Wade, 2008). Simultaneity also involves subjecting the enemy to more demands so that they are not able to cope with in-depth operations. Thishinders the enemy's further reactions. For success to be achieved during an operation, the strategies set by the operational commanders must be adhered to by the tactical commanders in the battle field./p> Synchronization, on the other hand, is anarrangement of military response, such as timing, proper strategies or decisions, as well as selecting the place to execute them. It is the act of executing several related tasks simultaneously in different areas in order to achieve the success. The army's operational initiative is to clearly define ways of action throughout their mission in order to attack, capture and exploit their mission or initiative. The initiative is the source of the army's spirit to accomplish the mission which is to seize, exploit and pursue to realize the desired results. To achieve the initiative, the commander must be able to assess the situation on the ground and be ready to take the necessary risks as well as exploit the available opportunities.The initiatiave forms the spirit of all army's operations and directly affects their performance or success (Wade, 2008). Lethal actions during operations are characterized by swift actions towards the enemy. This also involves attacking the enemy at the time when they least expect and employing the methods which the enemy least expects you to use. This shock emanating from sudden violence will stall all enemy's strategies and stability hence the mission is accomplished. Nonlethal actions are characterized by the soldiers providing civil supportto the people during reconstruction as well as ensuring stability. This may also involve supporting the residents economically, and also helping establish the infrastructure, such as communication links. The army can encourage people to stop supporting the enemy and only cooperate with the army, which makes it hard for the enemy to effectively operate. This rapport between the army and the people paralyses the enemy (Wallace, 2008). Buy custom Custom Coursework essay

Obama Gives Himself a Grade of Incomplete After 18 Months Article

Obama Gives Himself a Grade of Incomplete After 18 Months - Article Example According to the research findings, it can, therefore, be said that President Obama pointed out that being criticized comes with the job so he understood why a lot of criticisms are being hurled on his way. But he was very optimistic in the sense that though not much credit is being given to his administration, he wants to still do a good job as the leader of the country. Because he believed that what he is doing is not only for this generation but he believed in making America strong so that when his daughters have kids, they would be the one to enjoy the fruits of his labor. The researcher has to agree with President Obama that his administration merits undue credits. For one, the author believes that his efforts with regards to health care reform are very much undermined. Past presidents have attempted to improve health care services to adapt to changing demands and needs of the people but it was Obama’s determination that finally made it push through. Another is that the a uthor believes in Obama’s leadership skills. He is not a traditional politician and people are quite uncomfortable with that fact. Furthermore, since he is the first African-American president, the author think most people are still not in terms of that idea. That is why most criticisms of him, in my opinion, are not really about political issues but about personal resentment and biases. The researcher believes that Obama would create a lasting legacy worthy to be remembered—as the president who helped the country recover from another economic depression and not just as the first African American president. This article is a press release from the White House’s Office of the Press Secretary with respect to the Executive Order 13441. Executive Order 13411 declares a national emergency in relation to the status of the sovereignty of Lebanon. The Executive Order was issued in August 2007 and is being extended by President Obama for another year.

Lab report Essay Example | Topics and Well Written Essays - 250 words - 2

Lab report - Essay Example To safeguard our planets future, we need to aim at the orange line level by use of existing technologies. This can also be achieved by coming up with new inventions to meet the world’s energy needs over the next 50 years, and reduce atmospheric carbon dioxide from doubling as projected in the black line. It is for this purpose that we formed a group of three students to come up with an energy wedge that is likely to tackle this problem squarely and at all angles. Our energy stabilization wedge is mainly concerned with efficient utilization of energy, and use of renewable sources as the major active ways of reducing carbon emission by the year 2055. Stabilization at any level demands that net emissions do not remain constant, but in due course drop to zero. Faced with only two solutions of either maintaining the current emission of carbon in the next 50 years or reducing the production of carbon in the atmosphere by the similar amount of time, we opted to build our wedge on the basis practical reduction of carbon in the atmosphere by half for the next 50 years. This option was opted for the various reasons of changing environmental conditions and the sudden changes in technology that demand use of carbon energy (Levy, 2010). The world is required to reduce atmospheric carbon from current 8 billion tons per year by half hence ensuring only 200 billion tons by the year 2055. This is only possible by increasing sufficient use of transport. This is mainly by adopting efficient fuel engines in terms of motor vehicles. Another way is by reducing the distance travelled while at the same time ensuring efficiency in construction and building hence reducing electricity use. This is possible by utilizing solar energy and using materials that conserve energy during winter. Use of renewable sources of energy is our next energy wedge, which aims at using sources in the

Napster; The P2p Model Essay Example | Topics and Well Written Essays - 3500 words

Napster; The P2p Model - Essay Example Peer to peer software was developed by an American Teenager, Shawn Fanning, through his system for music sharing called Napster. This allows users to swap music directly from one computer to another without the need to go through a central server.(Annonymous, 2000). The system became so popular that Napster had 20 million users in 2000, with the number ever growing. The process of downloading music off the Net was initially a cumbersome process because music files contained too much of data – up to 172 kilobytes of information per second (Westrup 2000). A single AIFF sound file used on audio CDs takes up 8.75 megabytes of storage space for each minute of music, so that even with a 56K high speed modem, an individual song would take at least an hour to be downloaded.(Woodworth, 2004). During the process of making a digital recording, sound waves are changed into the digital format. Since sound travels through the air in waves, it must first be transferred to a transducer in order to convert the sound waves into voltage variations. This further moves to an analog to digitial convertor. The analog voltage is converted into digital bits, each of which is assigned a number with a particular binary value, which are then recompiled within the storage facility of a computer.(Anderton, 1985).

Business Organisation and Policy Essay Example | Topics and Well Written Essays - 2500 words - 1

Business Organisation and Policy - Essay Example Where as, if the country has a government, which prefers large companies and even sometimes the government invests a lot to pull the sick companies, definitely the sentiments would be in favour of size. In a condition of economical boom, most of the people seek their entrepreneurial dreams to come true. The venture capitalists are there to help them out in this. Situations become gloomy in economic downturn. Venture capital firms would be in no position to help them out. In such a situation, big companies can sustain for long than the small ones. The situation can be seen from other point of view also. For an example, an industry, whose demand has decreased drastically; a large company, being in that industry, would get hit badly than the smaller ones. The smaller ones would incur less cost than the bigger ones. Even the economic downturn can be encouraging for the entrepreneurial business. In such a scenario employment opportunities would get squeezed. Many people would be inspired to have their own business this time. Even in recession time, companies prefer to squeeze themselves; by cutting on their employee size or selling off some of the non profitable divisions of a conglomer ate. Sometimes some social reasons can encourage a company to be whether small entrepreneurial or of larger size. Social pressure can play an important role to create emotions in favour of the entrepreneurship. Technology has encouraged having smaller entrepreneurial companies; but taking the help from the bigger ones. The small companies grow using the servers of the big companies; taking the help from their research and development. Sometimes large companies can have problems in communicating between themselves; the centred management information system might not be efficient enough to carry on the co-ordination within the business systems; that time the

Interpreting Financial Results Essay Example | Topics and Well Written Essays - 750 words

Interpreting Financial Results - Essay Example l turnover reduced in the year 2011 and 2012 .The working capital ratio also reduced in the year 2013.This ratio indicates the extent to which, the working capital has been utilized in the creation of sales revenue. This is computed by dividing the total number of the days by the inventory turnover. ITT Co.s average inventory processing period increased in the year 2011 and 2012.However, the ratio slightly reduced in the year 2013. This is the sum of the inventory-processing period plus the average revenue collection period. Boeing Co.s operating cycle improved from 2011 to 2012 but then deteriorated significantly from 2012 to 2013. Average Payables Payment Period is the period the company takes to pay its creditors. The payment period is computed by dividing the total number of payables by payable turnover ratio. ITT Co.s average payables payment period reduced in the year 2011 and 2012 (Bruce, 2009).Additionally, the ratio also reduced in the year

Sport and Leisure Identities Essay Example | Topics and Well Written Essays - 2750 words

Sport and Leisure Identities - Essay Example Thus, the classes are not as distinct as they once were, their nature more developed along consumerism that provides an equalizing element to the nature of choice. While social class and related issues of gender and ethnicity still have powerful influential context for the individual, consumerism also plays a role in the way in which choices about leisure time and sports activities are concerned. Despite the highly influential consumer society that presents equalities of opportunities to the classes, in the end it is still the nature of what is presented as an opportunity, in combination to how a community has developed their identity around leisure and sports that will have the greatest influence on the choices that are made by the individual. Spectator sports, in particular, create large communities of followers that can be explored for the way in which their social class relates to their choices. Social Class The social class systems in Great Britain were originally based on finit e criteria that placed people into social groups according to birth, occupation, and accomplishments. These social groups were finite in that once inside a specific group, even though most often through birth, it was difficult, if not impossible, to find a way up to the next social class level. With growing globalization that begun with the industrialization of goods and services, creating a wealthy middle class who were not associated by birth to nobility, the social class structure has changed dramatically. Social classes are defined by a series of criteria that place a person into a certain strata of social grouping. In order to be a member of the upper class, one is born into the group of landowners who bare titles of the aristocracy. Even if one marries into this group, full integration will more than likely not occur. These families have long histories that are well documented, giving them position and prestige merely from being born into the right family. The upper middle cla ss is defined by the well-educated, although most people are born into this class as well. Through higher educations and academic pursuits, the incomes are high and the perpetuation of this level of achievement is the common way for the perpetuation of the families as they continue their traditions of attending the more prestigious educational institutions.1 The middle class is the group of people who work as doctors, lawyers, architects, teachers, and those who have attained a position of respect through the means of their education and accomplishments. The nouveau rich are the people who have attained new money, their lifestyles altered by the increases in wealth that comes, not from family, but from entrepreneurial or inventive efforts. The nouveau rich is a relatively new class that was not in existence pre-industrial communities.2 This type of self-made wealth was not possible during feudal configurations of society and has only emerged with the consumerist society that has acc ompanied industrialization. The lower middle class consists of white collar workers without extensive educations working in jobs that are still cerebral, but not high paying and without much in the way of earned respect due to their professional

Business Organisation and Policy Essay Example | Topics and Well Written Essays - 2500 words - 1

Business Organisation and Policy - Essay Example Where as, if the country has a government, which prefers large companies and even sometimes the government invests a lot to pull the sick companies, definitely the sentiments would be in favour of size. In a condition of economical boom, most of the people seek their entrepreneurial dreams to come true. The venture capitalists are there to help them out in this. Situations become gloomy in economic downturn. Venture capital firms would be in no position to help them out. In such a situation, big companies can sustain for long than the small ones. The situation can be seen from other point of view also. For an example, an industry, whose demand has decreased drastically; a large company, being in that industry, would get hit badly than the smaller ones. The smaller ones would incur less cost than the bigger ones. Even the economic downturn can be encouraging for the entrepreneurial business. In such a scenario employment opportunities would get squeezed. Many people would be inspired to have their own business this time. Even in recession time, companies prefer to squeeze themselves; by cutting on their employee size or selling off some of the non profitable divisions of a conglomer ate. Sometimes some social reasons can encourage a company to be whether small entrepreneurial or of larger size. Social pressure can play an important role to create emotions in favour of the entrepreneurship. Technology has encouraged having smaller entrepreneurial companies; but taking the help from the bigger ones. The small companies grow using the servers of the big companies; taking the help from their research and development. Sometimes large companies can have problems in communicating between themselves; the centred management information system might not be efficient enough to carry on the co-ordination within the business systems; that time the

Sport and Leisure Identities Essay Example | Topics and Well Written Essays - 2750 words

Sport and Leisure Identities - Essay Example Thus, the classes are not as distinct as they once were, their nature more developed along consumerism that provides an equalizing element to the nature of choice. While social class and related issues of gender and ethnicity still have powerful influential context for the individual, consumerism also plays a role in the way in which choices about leisure time and sports activities are concerned. Despite the highly influential consumer society that presents equalities of opportunities to the classes, in the end it is still the nature of what is presented as an opportunity, in combination to how a community has developed their identity around leisure and sports that will have the greatest influence on the choices that are made by the individual. Spectator sports, in particular, create large communities of followers that can be explored for the way in which their social class relates to their choices. Social Class The social class systems in Great Britain were originally based on finit e criteria that placed people into social groups according to birth, occupation, and accomplishments. These social groups were finite in that once inside a specific group, even though most often through birth, it was difficult, if not impossible, to find a way up to the next social class level. With growing globalization that begun with the industrialization of goods and services, creating a wealthy middle class who were not associated by birth to nobility, the social class structure has changed dramatically. Social classes are defined by a series of criteria that place a person into a certain strata of social grouping. In order to be a member of the upper class, one is born into the group of landowners who bare titles of the aristocracy. Even if one marries into this group, full integration will more than likely not occur. These families have long histories that are well documented, giving them position and prestige merely from being born into the right family. The upper middle cla ss is defined by the well-educated, although most people are born into this class as well. Through higher educations and academic pursuits, the incomes are high and the perpetuation of this level of achievement is the common way for the perpetuation of the families as they continue their traditions of attending the more prestigious educational institutions.1 The middle class is the group of people who work as doctors, lawyers, architects, teachers, and those who have attained a position of respect through the means of their education and accomplishments. The nouveau rich are the people who have attained new money, their lifestyles altered by the increases in wealth that comes, not from family, but from entrepreneurial or inventive efforts. The nouveau rich is a relatively new class that was not in existence pre-industrial communities.2 This type of self-made wealth was not possible during feudal configurations of society and has only emerged with the consumerist society that has acc ompanied industrialization. The lower middle class consists of white collar workers without extensive educations working in jobs that are still cerebral, but not high paying and without much in the way of earned respect due to their professional

Bermuda triangle Essay Example for Free

Bermuda triangle Essay The Bermuda Triangle, also known as the Devils triangle is said to be one of the most dangerous and mysterious areas of the ocean known to man. It has been held responsible for the disappearances of over 2000 vessels, 75 airplanes and many innocent lives in the past 3 centuries. But the question is how? What really happened in this deadly body of water? There are many theories about what is going on in the Bermuda Triangle. From human error, to the lost city of Atlantis all the way to paranormal activity and Extra Terrestrials. Today I will be talking to you about the mysteries of the Bermuda Triangle. The Bermuda Triangle is located between three main points in the Atlantic Ocean, San Juan, Puerto Rico, Miami, Florida and the Island of Bermuda. The triangle is formed by connecting an imaginary line between these three points with an area of the about 500,000 to 1,000,000 square miles. Flight 19 is said to be one of the first known flights to go down in the Bermuda triangle. The aircraft was filled with US naw avenger bombers on a training mission. When the plane went down, it was said that the flight leader was heard saying We are entering white water, nothing seems to be right. We dont know where we are, the water is reen, no white. This raised suspicion about whats really going on in the so called Devils Triangle. It is very possible that the plane had Just run into some bad weather, but some believe weather is not the cause of these vanishing planes. Im not saying I have come up with the answer to what is going on in the Bermuda triangle, but here are some reasonable answers I have come across; 1. Bad weather. The part of the Atlantic in which the Triangle is located is very close to the Caribbean Sea which tends to get many tropical storms. This could be the cause to all of these strange disappearances. Intense storms may be causing ships to sink or planes to crash. But bad weather is only one of the many theories people have come up with. 2. Human error and amateur sailors. The coast guards are said to get over 8000 distress calls a year, thats more than 20 a day! But most of the time, the issue is minor, running into a rough patch of water or a shortage of gas. . Traffic. There are many planes and boats that go through the Bermuda triangle every day. Because its so busy, vessels and planes could be crashing into each other and falling into the ocean below. 4. Underwater earthquakes. In shallow water, underwater earthquakes can cause sunamis in the far east of the triangle. (and) 5. The gas bubble theory. Scientists say that a high concentration of gas hydrates have been fou nd in the Bermuda area which causes the water to become less dense in small patches. This could cause ships to sink quickly without and trace. Believe it or not,some think the tragedies are caused by the lost city of Atlantis. Some even say that government is behind it. The government supposedly runs an underwater base called A. U. T. E. C. It stands for Atlantic Undersea test and evaluation center. It is located in the middle of the triangle where the naw tests new ubmarines, weapons and sonar. Some people think the government has been working with extraterrestrials and that A. U. T. E. C. is actually used for testing reverse engineered alien technology. Some also say the mythical lost city of Atlantis is causing these mysterious disappearances because ot a stone trail called Bimini road. Its supposedly part of the lost city and possesses advanced technology that is interfering with radio signals in vessels and aircrafts. These theories are more farfetched than earthquakes and amateurs but some think this could be the reason to the mysteries in the triangle.

Kata pengantar

Kata pengantar Puji syukur penyusun panjatkan ke hadirat Tuhan Yang Maha Esa karena atas rahmat dan hidayah-Nya kami dapat menyelesaikan tugas Research-Based Learning ini yang kami beri nama SuperPowerRanger. Makalah ini diajukan guna melengkapi tugas RBL Fisika Dasar IA. Kami mengucapkan terima kasih kepada Dosen Mata Kuliah Fisika Dasar, Bapak Maman Budiman, selaku dosen pembimbing kami dan semua pihak yang turut membantu sehingga tugas ini dapat terselesaikan dengan baik dan tepat waktu. Kami sadari bahwa makalah kami ini masih banyak kekurangannya. Kami harap makalah ini dapat memberi informasi bagi orang lain dan bermanfaat untuk pengembangan ilmu pengetahuan. Penyusun I. Pendahuluan A. Latar Belakang Pembuatan alat ini adalah untuk memenuhi tugas RBL (Research Based Learning) Mata Kuliah Fisika Dasar IA. Tugas RBL untuk 2009/2010 adalah membuat sistem pelontar atau pendorong yang dapat menggerakkan mobil mainan. Mobil mainan tersebut akan bergerak pada lintasan seperti yang tampak pada gambar di bawah ini. Ada tiga prinsip yang dapat digunakan dalam pembuatan alat pelontar, yaitu prinsip mekanika, fluida, dan termodinamika. Kami memilih untuk memakai prinsip mekanika. B. Tujuan Tujuan dari pengerjaan tugas RBL ini adalah untuk mengaplikasikan ilmu fisika yang selama ini dipelajari secara teoritis pada sebuah permasalahan nyata. II. Isi A. Teori Dasar dan Prinsip Kerja Teori dasar pada pelontar mobil mainan ini berpegang pada hukum Hooke pada bab Elastisitas dimana pertambahan panjang (delta L) suatu benda bergantung pada besarnya gaya yang diberikan (F) dan materi penyusun dan dimensi benda (dinyatakan dalam konstanta k). Benda yang dibentuk oleh materi yang berbeda akan memiliki pertambahan panjang yang berbeda walaupun diberikan gaya yang sama, misalnya tulang dan besi. Demikian juga, walaupun sebuah benda terbuat dari materi yang sama (besi, misalnya), tetapi memiliki panjang dan luas penampang yang berbeda maka benda tersebut akan mengalami pertambahan panjang yang berbeda sekalipun diberikan gaya yang sama. Jika kita membandingkan batang yang terbuat dari materi yang sama tetapi memiliki panjang dan luas penampang yang berbeda, ketika diberikan gaya yang sama, besar pertambahan panjang sebanding dengan panjang benda mula-mula dan berbanding terbalik dengan luas penampang. Jika benda kita tarik ke kanan sehingga pegas teregang sejauh x, maka pada benda bekerja gaya pemulih pegas, yang arahnya berlawanan dengan arah tarikan kita. Ketika benda berada pada simpangan x, EP benda maksimum sedangkan EK benda nol (benda masih diam). Ketika benda kita lepaskan, gaya pemulih pegas menggerakan benda ke kiri, kembali ke posisi setimbangnya. EP benda menjadi berkurang dan menjadi nol ketika benda berada pada posisi setimbangnya. Selama bergerak menuju posisi setimbang, EP berubah menjadi EK. Ketika benda kembali ke posisi setimbangnya, gaya pemulih pegas bernilai nol tetapi pada titik ini kecepatan benda maksimum. Karena kecepatannya maksimum, maka ketika berada pada posisi setimbang, EK bernilai maksimum. Benda masih terus bergerak ke kiri karena ketika berada pada posisi setimbang, kecepatan benda maksimum. Ketika bergerak ke kiri, Gaya pemulih pegas menarik benda kembali ke posisi setimbang, sehingga benda berhenti sesaat pada simpangan sejauh -x dan bergerak kembali menuju posisi setimbang. Ketika benda berada pada simpangan sejauh -x, EK benda = 0 karena kecepatan benda = 0. pada posisi ini EP bernilai maksimum. Pada penjelasan di atas, tampak bahwa ketika bergerak dari posisi setimbang menuju ke kiri sejauh x = -A (A = amplitudo / simpangan terjauh), kecepatan benda menjadi berkurang dan bernilai nol ketika benda tepat berada pada x = -A. Karena kecepatan benda berkurang, maka EK benda juga berkurang dan bernilai nol ketika benda berada pada x = -A. Karena adanya gaya pemulih pegas yang menarik benda kembali ke kanan (menuju posisi setimbang), benda memperoleh kecepatan dan Energi Kinetiknya lagi. EK benda bernilai maksimum ketika benda tepat berada pada x = 0, karena laju gerak benda pada posisi tersebut bernilai maksimum. Proses perubahan energi antara EK dan EP berlangsung terus menerus selama benda bergerak bolak balik. Total EP dan EK selama benda bergetar besarnya tetap atau konstan. B. Rancangan Alat dan Bahan Bahan: Gagang Payung Bekas Triplek Balok Kayu Pegas Lempengan Seng Paku Alat: Gergaji Lem Cara Kerja: Tarik batang sebesar delta x seperti apa yang kita dapat dari hasil perhitungan, tahan sebentar untuk memastikan jarak, setelah melihat jaraknya kemudian lepaskan. C. Perhitungan Melalui beberapa percobaan, maka di dapatkan konstanta pegas = 326 N m-1 Kecepatan saat di puncak ÃŽ £F = m.ass m.g = m.v Untuk mencari kecepatan minimum, kita pilih N=0 m.g = m v2/R g.r = Menentukan kecepatan minimum benda sebelum memutar agar benda bisa memutar Dengan prinsip Usaha-Energi ,-.=,-. h-.+,1-2.,-2.+,1-2.,-2.=,h-.+,1-2.,-2.+,1-2.,-2. Kita anggap bahwa roda itu berbentuk silinder pejal, =,1-2.,-2., karena Massa roda sangat kecil jika dibandingkan dengan massa mobil serta jari-jari roda juga sangat kecil, maka Energi kinetic rotasi dapat kita abaikan. h-.+,1-2.,-2.=,h-.+,1-2.,-2. (2)+,1-2.,(,-.)-2.=0+,1-2.,-2. 5-2.=,1-2.,-2. -.=,-5h. -.=,-5.9,78.28.,,10-2.-. D. Hasil Percobaan III. Penutup Kesimpulan Saran

The Crucible: Insight Of Hale, Elizabeth And John :: Essay on The Crucible

The Crucible, a container that resists hear or the hollow at the bottom of an ore furnace. However its connotations include melting pot, in the symbolic sense, and the bearing of a cross. Elizabeth, John Proctor’s wife; a cold, childless woman who is an upright character who cannot forgive her husband’s adultery until just before he died: she is accused of being a witch. Reverend Hale, a self-proclaimed expert on witchcraft; at the play’s end tries to save the accused. John Proctor, a good man with human failures and a hidden secret, a affair with Abigail, he is often the voice of reason in the play; accused of witchcraft.â€Å"I do not judge you. The magistrate that sits in your heart judges you.† This is where Elizabeth suspects that John has committed adultery, but knows how good of man he is and tries to look over it. â€Å"Adultery, John.† This is where John tells her and she makes it sound like it is news to her even though she has known for awhile. She is trying to have John have a â€Å"good† name and not be a name that everyone discards. â€Å"No, sir.† Here she is protecting his name but she doesn’t know that John has just came out and said that he committed lechery. She thought that she was saving him but she was actually making it worse for him.â€Å"I mean to crush him utterly if he has shown his face.† Here he is talking about if he ever encountered the Devil that he would literally kick his ass. This shows how he is a hippercrite against being a Puritan. Even though he is a religious man he still has the human character of having an evil side to himself.â€Å"But I will cut off my hand before I ever reach for you again.† John is talking to Abigail and how he is finished with seeing her and that he doesn’t want any part of her. John goes through from being amoral to immoral and then to moral, then back to amoral at the end. â€Å"It’s winter in here yet.† Elizabeth and John were talking about how he was working all day seeding even though he was at Salem to see what the fuss was all about. Here he shows his character toward Elizabeth by lying to her and she can’t trust him. â€Å"Let Rebecca go like a saint, for me it is a fraud.

Synchronous and Asynchronous Mode :: essays research papers

Synchronous and Asynchronous mode:   Ã‚  Ã‚  Ã‚  Ã‚  In telecommunication signaling within a network or between networks, synchronous signals are those that occur at the same clock rate when all clocks are based on a single reference clock. Synchronous communication requires that each end of an exchange of communication respond in turn without initiating a new communication.   Ã‚  Ã‚  Ã‚  Ã‚  An asynchronous signal is one that is transmitted at a different clock rate than another signal. Asynchronous operation also means that a process operates independently of other processes, whereas synchronous operation means that the process runs only as a result of some other process being completed or handing off operation. Analog and Digital: Analog communication employs continuous transmission of an electromagnetic wave form that varies in frequency and amplitude. A digital communication system uses discontinuous transmission that may vary in frequency, amplitude and/or phase to represent binary data. Simplex and Duplex:   Ã‚  Ã‚  Ã‚  Ã‚  A communications network can provide many types of service. The most basic type of service is known as simplex. This service provides one-way communication. Examples of this type of service are TV distribution, and the transmission of burglar alarm messages.   Ã‚  Ã‚  Ã‚  Ã‚  Most networks transfer data in two directions and are known as duplex communications links. Duplex links are classified as either full duplex or half duplex (also known as two ways alternate), depending upon whether both local and remote nodes may simultaneously transmit, or whether one must wait for the other to finish before starting transmission. Serial and Parallel Transmission:   Ã‚  Ã‚  Ã‚  Ã‚  In telecommunication, serial transmission is the sequential transmission of the signal elements of a group representing a character or other entity of data. The characters are transmitted in a sequence over a single line, rather than simultaneously over two or more lines, as in parallel transmission. The sequential elements may be transmitted with or without interruption. A parallel link transmits several streams of data (representing particular bits of a stream of bytes) along multiple channels (wires, printed circuit tracks, optical fibres, etc.). Serial Line Internet Protocol (SLIP)and Point-to-Point Protocol (PPP):   Ã‚  Ã‚  Ã‚  Ã‚  SLIP and PPP are two communication protocols which allow a computer connected to a server via a serial line (such as a modem) to become an actual node on the internet. This allows you to run network applications on your home computer directly. While SLIP and PPP are largely similar, there are some key differences. PPP is a newer protocol, better designed, and more acceptable to the sort of people who like to standardize protocol specifications.

Commercial Partnership Essay

The partnership en nom collectif, the partnership en commandite and the company are the three kinds of commercial partnerships which may be established under the Companies Act. Explain the main features of each. Why do you think the company is the most widely used vehicle to do business with? Introduction Commercial partnerships in Malta are regulated by The Maltese Companies Act which came into effect on the 1st January 1995 in order â€Å"to regulate†¦limited liability companies and other commercial partnerships†. In fact, when one wants to set up a commercial partnership in Malta the Act provides a number of possible legal structures. The Act stipulates that, â€Å"A commercial partnership may be of the following kinds: a partnership en nom collectif; a partnership en commandite; and a company (limited liability company)†. The purpose for which the commercial partnership may be formed is regulated by the Act which provides that a partnership en nom collectif and a partnership en commandite may be formed for the exercise of one or more acts of trade. Under the Commercial Partnerships Ordinance, this provision applied also to a limited liability company however under the provisions of the Act in force today, â€Å"a company may be formed for any lawful purpose and shall have the status of a public company; or a private company.† This means that a company may not necessarily be set up for the purposes of trading. Any lawful purpose is sufficient in order to set up a limited liability company. The Partnership En Nom Collectif Article 7 of the Companies Act defines the partnership en nom collectif as one which â€Å"†¦may be formed by two or more partners and operates under a partnership name and has its obligations guaranteed by the unlimited and joint and several liability of all the partners.† The formation of a partnership en nom collectif requires that every partner gives his contribution in money or in kind or in future personal services. The totality of the contributions constitutes the original capital of the partnership en nom collectif. In a partnership en nom collectif all the partners are unlimitedly liable. The above definition highlights the fundamental elements of a partnership en nom collectif. It may be formed by two or more partners; it must operate under a partnership name; and the partners are unlimitedly, joint and severally liable for all the obligations of the partnership. The partnership-name is the name under which the business is carried on and the obligations are entered into. It is the name by which the partnership and the legal entity created by such name are known to the public and it represents the external manifestation of the juridical distinction between the legal personality of the partnership and the members composing it. The unlimited liability of the partners for the obligations of the partnership is an essential characteristic of the partnership en nom collectif which distinguishes it from the other forms of commercial partnerships. In a partnership en nom collectif, each and every partner is liable for all the debts and obligations of the partnership with all his property present and future and not only up to the amount contributed by him to the partnership. Due to the unlimited liability of each and every partner, creditors of the partnership may enforce their claims against any of the partners and this even where such claims exceed the amount contributed or promised as contribution by the said partner. The joint and several liability of the partners for the obligations of the partnership means that the partner against whom an action is brought for the recovery of a sum due by the partnership may not plead the benefit of discussion of any of the other partners. However, one of the provisos to Article 7 states that, â€Å"no action shall lie against the individual partners unless the property of the partnership has first been discussed.† Therefore a creditor looking for a payment has to first go to the property of the partnership itself as an entity before its individual partners. Only in the absence of sufficient partnership assets can the creditor go to the individual partners. A partnership is legally valid when partners enter into an agreement called the â€Å"deed of partnership.† The deed of partnership has to be entered into, signed and sent to the registrar and thus duly registered by the Registrar of Companies. The next step would be the issued of â€Å"a certificate of registration† and this can be described as the act of birth of the partnership because it is at this point that the latter comes into being. Article 14 of the Companies Act shall state : (a) the name and residence of each of the partners; (b) the partnership-name; (c) the registered office in Malta of the partnership; (d) the objects of the partnership, that is to say, whether the objects are trade in general or a particular branch of trade, and in the latter case, the nature of the trade; (e) the contribution of each of the partners, specify the value of the respective contribution of every partner; (f) the period if any fixed for the duration of the partnership. The Partnership En Commandite In a partnership en commandite there must be at least one general partner and one limited partner. The general partner has to guarantee all the obligations of the partnership unlimitedly whereas the limited partner enjoys limited liability up till the payment of his share. Article 51 of the Act defines a partnership en commandite as one which â€Å"operates under a partnership name and has its obligations guaranteed by the unlimited and joint and several liability of one or more partners, called general partners, and by the liability, limited to the amount, if any unpaid on the contribution, of one or more partners, called limited partners.† From the definition, it is clear that this partnership shares a number of similar characteristics with the partnership en nom collectif. What has been said with regard to the partnership name when dealing with the partnership en nom collectif applies also to the characteristics of the partnership en commandite. In addition Article 53 of the Act states that â€Å"a person who holds himself out as being a general partner shall be held liable unlimitedly and jointly and severally with the general partners for all the obligations contracted by the partnership.† Therefore, if a partner makes believe that he is a general partner, then he will be treated as such. Furthermore, Article 53(2) of the Act provides that â€Å"the inclusion in the partnership name of the name of a person who is not a partner shall be taken into account by the Court in determining whether such person is holding himself out as being a partner.† Therefore the partnership name can only include the name of the general partner, otherwise if a limited person added his name, he would be deemed to be holding himself out as being a general part ner. These same provisions are applicable also to a partnership en nom collectif through Article 18 of the Companies Act. The co-existence in the partnership of one or more general and one or more limited partners distinguishes the partnership en commandite from the partnership en nom collectif and from the limited liability company. The liability of the general partners is similar to that of the partners in en nom collectif, that is unlimited and joint and several. The liability of the limited partners is defined by law as â€Å"†¦limited to the amount, if any, unpaid on the contribution and in no case are limited partners bound to restore profits received in good faith’’. The Company (Limited Liability Company) A limited liability company is defined as being one, â€Å"formed by means of a capital divided into shares held by its members. The members’ liability is limited to the amount, if any, unpaid on the shares respectively held by each of them.† From the said definition the most important characteristic and benefit of a limited liability company is highlighted, that is, the limited liability of all the members composing the company. The limitation of liability of the members of a company forms the exceptional legal characteristic of this kind of partnership. The limitation of liability is a valued privilege in itself and as long as it is operated legally and within the terms of the Companies Act, the personal assets of directors or shareholders are not at risk. However, due to this privilege, there are a number of provisions, aimed at preventing possible abuses. Article 68 of the Act provides that, â€Å"A company shall not be validly constituted under this Act unless a memorandum of association is entered into and subscribed by at least two persons, and a certificate of registration is issued in respect thereof†. The memorandum will include all the information about the company deemed necessary to lessen opportunities for abuse. â€Å"When the memorandum or the articles are drawn up in a public deed or in a private writing enrolled in the records of a notary public, an authentic copy thereof shall be delivered in lieu of the original.† On receiving the above-named documents, the duty of the Registrar is to examine them and, on being satisfied that all the requirements prescribed by law have been compiled with he will issue the certificate of registration. These measures and provisions will strengthen the credit and reputation of the company. â€Å"The choice of company names is restricted and, providing a chosen name complies with the rules, no-one else can use it.† Article 4 of the Companies Act provides that â€Å"A company shall not be registered by a name which (a) is the same as a name of another commercial partnership or so nearly similar as in the opinion of the Registrar it could create confusion:† Therefore no two limited companies can exist with exactly the same name. It is essential for the company to have a share capital and that the amount of such capital is stated and divided into shares of a fixed amount which according to Article 69(f) of the Act, must be stated in the memorandum. The said article states that, â€Å"the amount of share capital with which the company proposes to be registered (hereinafter referred to as â€Å"the authorised capital†), the division thereof into shares of a fixed amount.† The law also makes it impossible for a company to issue shares with variable share capital. This is only possible in the case of a SICAV which is an investment company with a variable share capital. â€Å"†¦Where a private company is an investment company with variable share capital, the name of the company shall be followed by the words â€Å"investment company with variable share capital† or by â€Å"SICAV†, followed by the words â€Å"private limited company†, †limited† or its abbreviatio n (ltd).† A company can either be a private or public company. The company must have a name under which it can operate and enter into legal relationships with third parties. Article 70 of the Act states that â€Å"†¦. A public company may be designated by any name but such name must end with the words â€Å"public limited company† or their abbreviation â€Å"p.l.c.† A private company may be designated by any name, but such name shall end with the words â€Å"private limited company† or the words â€Å"limited† or its abbreviation â€Å"Ltd†. The memorandum of association has to state whether it is a public or a private company. The public company may be listed or non-listed on the stock-exchange. It stands to reason that this would not be possible for a private company because its shares cannot be made available to the public at large. The members of a company manifest their wishes at general meetings by voting for or against proposed resolutions and as a rule the will of the majority of the members prevails and is binding on all. An important issue to address is deciding which form of business partnership to use. In practice, the limited liability company is the most popular commercial partnership. â€Å"First and foremost, the principal benefit of trading via a limited company has always been the limited liability bestowed upon the company’s officers and shareholders.† Before the concept of limited liability many people who had a substantial amount of resources would be reluctant to form a partnership due to the fear of losing everything as a result of the company’s losses. With the introduction of limited liability that person knows that he is only liable up to the amount he has invested and therefore only that amount is at risk and not all of his property. Therefore, this low risk of limited liability encourages greater investment. Once a Company builds a good reputation, it even increases the value of its goodwill with the result of being more in demand for investment continuity. Another fact which promotes the use of a limited liability company is that the creditors who deal with companies know that they are dealing with a company whose shareholders’ liability is limited, namely from the fact that it has (Ltd) at the end of its name. The creditors thus know what they are going in for and know what the repercussions are if they enter into transactions with limited liabilities and therefore if they have doubts, they should not enter any contracts in the first place. Just like all the rest of the commercial partnerships, the Limited Liability Company is a separate person. A shareholder in the company is just a person who has just acquired shares but is a separate person from the company. The company and the share holder are not one and the same thing and therefore the latter cannot be responsible for the obligations entered into by the company. In the Commercial Partnership Ordinance under Section 4(2) it was spelt out that â€Å"a commercial partnership has a legal personality distinct from that of its members.† Nowadays, even a single member company has a separate juridical personality. Another advantage of forming a company is that once a company is formed it continues despite the death, resignation or bankruptcy of management and members. Since the limited liability company is considered a lasting legal entity â€Å"a company can only be terminated by winding up, liquidation or other order of the courts or Registrar of Companies.† Another reason why it is of an advantage to form a limited liability company is that it is easy to secure new shareholders and investors. A public company which is in need of money or wishes to invest in another business enterprise can be listed in the stock exchange and acquire the needed finance by means of trading by other shareholders or investors, hence the ownership of a company can be divided among several owners in the form of shares of stock. The issue, transfer or sales of shares is regulated by the Companies Act. With a limited liability company, the process of borrowing money from a bank is much easier. On registration with the MFSA the company is a legal person in accordance with the Companies Act and consequently the bank will open an account and â€Å"can secure its loan against certain assets of the business or against the business as a whole.† When setting up a company business partners do not pay tax on their individual income but on a corporate level on company profits which may constitute benefits and allowance. In addition companies are approved better beneficiary pension schemes which consequently are offered to the employees of the company. Since the introduction of the limited liability company a total number of 52,000 companies where registered with the Malta Financial Services Authority, while only around 1,300 partnerships were registered. These statistics prove that it is the best decision one can make to carry out a business in the form of a limited liability company. In conclusion, a legal limited liability company helps you gain from a number of advantage mentioned above while you can limit your personal liability and protect your personal assets. Bibliography Statutory Sources * Chapter 386 of the Laws of Malta, Companies Act (1995) * Commercial Partnerships Ordinance Internet Sources and websites * Coddan. Advantages And Benefits Of A Limited Company.. Available: http://www.ukincorp.co.uk/s-46-uk-company-formation-benefits.html. Last accessed 4th May, 2011 * European Commission. (02/2010). Legal Requirements. Available: http://ec.europa.eu/youreurope/business/starting-business/setting-up/malta/index_en.htm. Last accessed 7th May, 2011. * Focus Business Services. (1998-2011). Registration Process of a Malta Company. Available: http://www.fbsmalta.com/malta-company-law-full-text-and-formation-procedure-2 /registration-process-malta-company/. Last accessed 7th May, 2011 * QUBE Services Limited. Maltese Bodies Corporate. Available: http://www.qubeservices.com/01types.asp. Last accessed 7th May, 2011. * RSM Malta. Services. Available: http://www.rsmmalta.com.mt/company-formation.aspx. Last accessed 7th May, 2011. * tutor2u. advantages of a limited liability. Available: http://tutor2u.net/business/finance/legal_company_advantages.htm. Last accessed 7th May, 2011. * http://www.commonlii.org/mt/legis/consol_act/cpo307.pdf