Rising Sun Essays - Neo-noir, Rising Sun, Michael Crichton

Rising Sun I read the novel Rising Sun by Michael Crichton. The story is about the grand opening of the Nakamoto Tower in Los Angeles, the new American headquarters of a Japanese corporation. On the night of the opening a young girl was killed on the forty-sixth floor, one story above the floor of the party. The Japanese liaison, Lieutenant Peter James Smith, was called to help the investigation begin, as the Japanese businessmen tried to stall the police. Though the story is about a homicide investigation, the underlying theme is one of business deals, both corrupt and proper. Throughout the book the reader is taken though the way of Japanese business, and quickly learns the differences between American companies and the Japanese even today. Rising Sun shows examples of the Japanese persuasion in almost all aspects of typical American life. The Japanese motto ?Business is war? comes into affect throughout the story, and is shown in their maneuvers to outwit the police. The businessmen of Nakamoto Tower know that the murder was recorded on their surveillance cameras, so they switch the tapes before the police have an opportunity to look at them themselves. Then, with technology years ahead of the Americans, they alter the video to transform the identity of the murderer. They care not for the truth to be found, and they only work to hide the murder from the public. The fear of a scandal that would topple the Nakamoto Corporation is enough to make the Japanese do whatever it takes to prevent the public from knowing of the murder. The book also discusses the loss of basic industries to Japan. The decline of American business became apparent even to Congress, who would move to stop the sale of business to the Japanese. The American approach to business is entirely different than the Japanese approach. American companies are compelled to show profits every few months, while the Japanese don't care for the short-term business at all. Often, they create their products and sell them below cost, a practice known as ?dumping?. While dumping is illegal under American and international law, the Japanese continue to do it, but only in America. They might lose money at first, but after a few years, they can refine their products and actually make them at a lower cost. By then the Japanese businesses have taken control of the market, without fear of American retaliation for their unlawful tactics. American government has provided an open market in its business. We have laws that prevent monopolies by American owners, but we welcome foreign investors without much worry. Other countries, which Americans do business with, have provided open markets, including the Japanese. But while the Japanese claim to have an open market, they play by their own rules. They don't sell their companies to Americans, but continue to buy ours. They force Americans to license their technology to Japanese companies before they can sell in their country. Japan takes eight years to give Americans a patent, and in the meantime the Japanese create a superior version of the same product after scrutinizing and perfecting our would-be-patented inventions. While other European countries play with a tit-for-tat strategy, Americans do nothing to prevent the Japanese from making use of their same illicit approaches over and over. America is afraid to upset the Japanese because we want to keep them as an ally of ours against Russia. At this point, two economies are too tightly intertwined for America and Japan to not come together in business. All this is proven through the telling of the story by the author. He talks of the loss of American business to the Japanese as almost tragic. The author, Michael Crichton, makes the point that it is time for Americans to take hold of their businesses in the industries we can still control. We need to realize that if we sell all of our companies to one nation, soon that nation will be able to control our control at will. If they are the sole creator of certain items, we will most certainly become dependant on them. He suggests that the Japanese ware good at what they do, but do not care to be fair. Crichton explains

Modern Economic Theories Essays - Keynesian Economics, Free Essays

Modern Economic Theories Essays - Keynesian Economics, Free Essays Modern Economic Theories Two controversial economic policies are Keynesian economics and Supply Side economics. They represent opposite sides of the economic policy spectrum and were introduced at opposite ends of the 20th century, yet still are the most famous for their effects on the economy of the United States when they were used. The founder of Keynesian economic theory was John Maynard Keynes. He made many great accomplishments during his time and probably his greatest was what he did for America in its hour of need. During the 1920?s, the U.S. experienced a stock market crash of enormous proportions which crippled the economy for years. Keynes knew that to recover as soon as possible, the government had to intervene and put a decrease on taxes along with an increase in spending. By putting more money into the economy and allowing more Americans to keep what they earned, the economy soon recovered and once again became prosperous. Keynes ideas were very radical at the time, and Keynes was called a socialist in disguise. Keynes was not a socialist, he just wanted to make sure that the people had enough money to invest and help the economy along. As far as stressing extremes, Keynesian economics pushed for a ?happy medium? where output and prices are conezt, and there is no surplus in supply, but also no deficit. Supply Side economics emphasized the supply of goods and services. Supply Side economics supports higher taxes and less government spending to help economy. Unfortunately, the Supply Side theory was applied in excess during a period in which it was not completely necessary. The Supply Side theory, also known as Reganomics, was initiated during the Regan administration. During the 1970?s, the state and local governments increased sales and excise taxes. These taxes were passed from business to business and finally to the customer, resulting in higher prices. Along with raised taxes for the middle and lower classes, this effect was compounded because there was little incentive to work if even more was going to be taxed. People were also reluctant to put money into savings accounts or stocks because the interest dividends were highly taxed. There was also too much protection of business by the government which was inefficient and this also ran up costs, and one thing the Supply Side theory was quite good at was reinforcing inflation. The two opposites of the Supply Side and Keynes? theories are well matched theories, but it was the time of use that made them good and bad. Keynes? theory was used during that aftermath of the Great Depression, a catastrophe America will never forget and will never be able to repay Keynes for the economic assiezce in recovering from it. The Supply Side theory was used after a long period of prosperity, and although seeming to continue the practices of the past administration, was the cause of a fearful recession. The success of those or any economic theory is based on the time at which it is implemented.

Japanese Greetings and Parting Phrases

Japanese Greetings and Parting Phrases Learning greetings is a great way to start communicating with people in their language. Particularly in Japanese- a culture that prizes proper social etiquette- knowing how to use greetings and parting phrases correctly will open doors for you as you study the language. The greetings and parting words below include audio files that will allow you to listen to the phrases and learn how they are pronounced. Using Ha and Wa in Hiragana Before studying Japanese greetings, its important to learn how two important words are used in hiragana. Hiragana is a part of the Japanese writing system. It is a phonetic syllabary, which is a set of written characters that represent syllables. In most cases, each character corresponds to one syllable though there are few exceptions to this rule. Hiragana is used in many cases, such as writing articles or miscellaneous words that have no kanji form or an obscure kanji form In Japanese, there is a rule for writing the hiragana for waã‚ ) and ha㠁 ¯). When wa  is used as a  particle, it is written in hiragana as ha. (A particle,  joshi,  is a word that shows the relationship of a word, phrase, or clause to the rest of the sentence.) In current Japanese dialogue, Konnichiwa or Konbanwa are fixed greetings. However, historically, they were used in sentences such as  Konnichi  wa (Today is) or Konban  wa  (Tonight is), and wa  functioned as a particle. Thats why it is still written in hiragana as ha. Common Japanese Greetings  and  Parting Phrases Listen to the audio files carefully by clicking on the links, and mimic what you hear. Repeat this a few times until you are able to pronounce the greetings and parting phrases. Good MorningOhayou㠁Šã  ¯Ã£â€šË†Ã£ â€ Ã£â‚¬â€š Good AfternoonKonnichiwa㠁“ん㠁 «Ã£  ¡Ã£  ¯Ã£â‚¬â€š Good eveningKonbanwa㠁“ん㠁 °Ã£â€šâ€œÃ£  ¯Ã£â‚¬â€š Good nightOyasuminasai㠁Šã‚„㠁™ã  ¿Ã£  ªÃ£ â€¢Ã£ â€žÃ£â‚¬â€š GoodbyeSayonara㠁•ã‚ˆã  ªÃ£â€šâ€°Ã£â‚¬â€š See you laterDewa mata㠁 §Ã£  ¯Ã£  ¾Ã£ Å¸Ã£â‚¬â€š See you tomorrow.Mata ashita㠁 ¾Ã£ Å¸Ã¦ËœÅ½Ã¦â€" ¥Ã£â‚¬â€š How are you?Genki desu kaå…Æ'æ °â€"㠁 §Ã£ â„¢Ã£ â€¹Ã£â‚¬â€š Tips on Greetings and Parting Phrases Enhance your knowledge of Japanese greetings and parting words by reviewing some basic tips about the various phrases. Ohayou Gozaimasu Good Morning:  If you are speaking to a friend or find yourself in a casual setting, you would use the word  ohayou  (㠁Šã  ¯Ã£â€šË†Ã£ â€ ) to say good morning. However, if you were on your way into the office and ran into your boss or another supervisor, you would want to use  ohayou  gozaimasu  (㠁Šã  ¯Ã£â€šË†Ã£ â€ Ã£ â€Ã£ â€"㠁„㠁 ¾Ã£ â„¢), which is a more formal greeting. Konnichiwa Good Afternoon:  Although Westerners sometimes  think the word  konnichiwa  (㠁“ん㠁 °Ã£â€šâ€œÃ£  ¯) is a general greeting to be used at any time of day, it actually means good afternoon. Today, its a colloquial greeting used by anyone, but it can be part of the more formal greeting:  Konnichi  wa  gokiken  ikaga  desu ka?  (ä »Å Ã¦â€" ¥Ã£  ¯Ã£ â€Ã¦ ©Å¸Ã¥ «Å'㠁„㠁‹ã Å'㠁 §Ã£ â„¢Ã£ â€¹?). This phrase loosely translates into English as â€Å"How are you feeling today?† Konbanwa Good Evening:  Just as you would use one phrase to greet someone during the afternoon, the Japanese language has a different word for wishing people a  good evening.  Konbanwa  (㠁“ん㠁 °Ã£â€šâ€œÃ£  ¯) is an informal word you can use to address anyone in a friendly manner, though it can also be  used as part of a larger and more formal greeting. Mastering these greetings and parting words is a great early step in learning Japanese. Knowing the correct way to greet others, and to say goodbye, in Japanese demonstrates respect and an interest in the language and culture.

Women and Driving in Saudi Arabia Article Example | Topics and Well Written Essays - 1500 words

Women and Driving in Saudi Arabia - Article Example Men and the Saudi government, in general, do not have any right to direct women on what they should do and what they should not engage in. Moreover, women all over the world including Saudi Arabia have proven that they are worth more than domestic objects. Accordingly, women are involved in management and leadership positions initially reserved for their male counterparts. This goes to show that the same way women are capable of managing other duties including work and family responsibilities, they are also able to manage driving and the challenges that come with this task. Thus, there is no obstacle holding back the government of Saudi Arabia to consent to lift of the driving ban. The Saudi government should let women drive because they have expressed a great willingness to drive. This reveals that the decision to deny women the right to drive is not welcomed by this population. As a result, women have come out and openly to show resistance towards the ban on driving. For example, on October 26, 2013 camping, women set behind the wheel and proved to the people that they could drive (Bynes 1). They recorded themselves driving and uploaded the videos on YouTube. Some people saw the women when they drove and gave them thumbs up which means that many people support women driving. In another protest, women came out in large numbers to test drive around the city. Ironically, as one of the participants narrates the experience, not even the police stopped her, and people around seemed not to notice (Burke 2). Notably, banning women from driving is just in perception, but in reality, it does not raise any concerns.

Full-time Faculty Criteria Essay Example | Topics and Well Written Essays - 250 words

Full-time Faculty Criteria - Essay Example Professors that are charismatic are better able to connect with their students. Another important criterion that candidates must have is excellent credentials. The minimum educational attainment a college professor must have is a master’s degree, even though a doctorate degree is preferable. The reason that college professors must have a graduate degree is because these individual have to be experts in their fields in order to be able to teach young aspiring students about a subject matter. The third most important criterion that universities look for in college professor candidates is their professional experience. In order for a college professor to be able to teach students about how the knowledge obtained in a course can be applied to the real world the professor must have extensive industry experience. The experience gained in the field can help the professor formulate examples of how different concepts, ideas, and theories can be used in the workplace. A fourth factor th at is considered by universities when hiring a new college professor is the person’s research abilities. Most universities received millions of dollars in research grants that can only be obtained if they have professors on staff that can perform the required research studies.

Native American Indians Essay Example for Free

Native American Indians Essay Indian Nations are sovereign governments, recognized in and hundreds of treaties with the U. S. President. The history of this continents original inhabitants encompasses a broad range of cultures and experiences. American Indians varied greatly from region to region, as did their reactions to European settlement. This website will delve into the vast and storied background of most tribes and seek to supply the visitors with as much knowledge as possible about the proud history of Native Americans. Please join us on this journey into the past, experience the present and dream about the future of the American Indian. When Columbus landed on the island of San Salvador in 1492 he was welcomed by a brown-skinned people whose physical appearance confirmed him in his opinion that he had at last reached India, and whom, therefore, he called Indios, Indians, a name which, however mistaken in its first application continued to hold its own, and has long since won general acceptance, except in strictly scientific writing, where the more exact term American is commonly used. As exploration was extended north and south it was found that the same race was spread over the whole continent, from the Arctic shores to Cape Horn, everywhere alike in the main physical characteristics, with the exception of the Eskimo in the extreme North, whose features suggest the Mongolian. Tribes and Nations Native Americans (American Indians) make up less than one percent of the total U. S. population but represent half the languages and cultures in the nation. The term Native American includes over 500 different groups and reflects great diversity of geographic location, language, socioeconomic conditions, school experience, and retention of traditional spiritual and cultural practices. However, most of the commercially prepared teaching materials available present a generalized image of Native American people with little or no regard for differences that exist from tribe to tribe. Mohawk (Iroquois): The Iroquois League, or Five Nations of the Iroquois, was the most powerful Indian military alliance in the eastern part of North America and probably the most successful alliance of any kind between so many important tribes. There were three principal clans deer, turtle and wolf existing within the five nations, and this was probably an important unifying factor in the league. The league was formed in the late sixteenth century at which time the five nations had a combined population of 7000. Mohican (Mohegan) and/or Mahican: What a confusion of facts. After reading through several texts and visiting many sites on the web, it has become clear as mud that everyone has a differing opinion about the relationships between these three tribes. We will therefore include them all on one page and maybe through your wanderings, you will discover the truth. If you do, please let us in on it. Creek: The Creek were originally one of the dominant tribes in the mid-south and later became known as one of the Five Civilized Tribes. They were known in their own language as Muskoke or Muskoge, by the Shawnee as Humaskogi, by the Delaware as Masquachki and by the British as the Ochese Creek Indians, hence the present name. Their name has been adapted for that of their linguistic group and for Muskogee, Oklahoma, which was a major city of the Creek Nation in Indian Territory. Cherokee: The Cherokee were one of the largest tribes in the Southeast and were among the earliest to adapt to European civilization. Their name is written Tsalagi in their own language, and they were called Chalakki by the Choctaw, whose language was the language of trade in the Southeast. Southwest Navajo (Dineh, Navaho): The Navajo tribe is the largest in the United States, with some 200,000 people occupying the largest and area reserved for Native Americans 17 million acres in Arizona, Utah, and New Mexico. The word Navajo derives from the Spanish word for people with big fields. At the time of the arrival of the white man they had developed agriculture, though on a smaller scale than the nearby Hopi and Pueblo peoples. The Navajo were less sedentary than the Hopi and Pueblo tribes, but more so than the Apache of the same region. Zuni: The Zuni, like the Hopi, were linguistically distinct from the Pueblo tribes but related to them culturally. The three groups, Zuni, Hopi and Pueblo, had several important characteristics in common. First of all, they lived in pueblos (Spanish for village), which were a composite of adobe houses, frequently interconnected and occasionally multistoried, much like a modern apartment complex. While each Pueblo tribe was associated with a single pueblo, the Hopi and Zuni were each associated with several, and not all members of these tribes lived in pueblos. Hopi: The Hopi, whose name comes from hopitu meaning the peaceful ones, are traditionally associated culturally with the Zuni and with eht Pueblo Indians. All of these people live in pueblos or cities comprised of a complex of sometimes jultistoried, rectangular houses. The name pueblo drives from the Spanish word for people. The Hopi are descendants of people who migrated into the Southwest prior to 1000 BC. By 700 AD they had developed agriculture and were raising corn, beans, squash and cotton. By 1100 AD they had abandoned their aboriginal pit housed for multi-level adobe houses, and had founded cities at Oraibi and Mesa Verde. Yavapai: From prehistoric times, the Yavapai lived as hunters and gatherers practicing occasional agriculture on over nine million acres of central and western Arizona. The three primary groups of Yavapai maintained good relationships with each other and are now located at Ft. McDowell, Camp Verde and Prescott. The Yavapai are known for weaving excellent baskets, which are displayed in many museums. Apache: The Apache (from a Zuni word meaning enemy) are a North American Indian people of the Southwest. Their name for themselves is Inde, or Nde (the people). The major nomadic tribe in the American Southwest, the Apache, was also the Last major tribe to surrender to government control in the 1880s Plains Kiowa: The Kiowa name is derived from kai-gwa, meaning principal people, and legend has it that they originated in the Yellowstone River country of central Montana. In the eighteenth century, having obtained horses, they moved onto the plains to hunt buffalo. During this time they made alliances with both the Kiowa-Apache as well as their former enemies, the Comanche. This latter association was the basis for the Kiowa-Comanche Reservation formed in Indian Territory in 1892. The Kiowa are noted for having kept a written history. This historical record was kept in the form of a pictographic calendar painted and updated twice a year, in winter and summer, on buffalo skins. Pawnee (Pani, Pana, Panana, Panamaha, Panimaha): The Pawnee name may have derived from Caddoan pariki, meaning horn, a reference to the peculiar manner inwhich the tribe wore the scalplock. The Paunee lived in established villages similar to those of the Mandan. They practiced agriculture but also hunted buffalo on the plains part of the year. They had a complex religion unrelated to other Plains tribes that included offering female captives as a sacrifice to ensure abundant crops. Comanche: The Comanche are an offshoot of the Shoshone and one of several numanic speaking tribes. They are linguistically related to the Shoshone, Ute and Paiute, whose language is remotely related to Aztec. Their name comes from the Spanish camino ancho, which means wide trail. They once lived in the Rocky Mountains near the Shoshone, but migrated to the plains to hunt buffalo. Though they became nomadic Plains Indians, they still maintained good relations with the Shoshone. Osage (Wazhazhe): Closely related to the Omaha, Kansa, Quopaw and Ponca, the Osage are thought to have once lived in the Ohio River valley, but they were first encountered by the white man in Missouri, where they were recorded as having large cornfields. They usually lived in earth lodges, but when on hunting trips to the northern plains in search of buffalo, they carried and used the plains tipi. Great Lakes Miami (Maumee, Twightwee): The Miami, whose name comes from the Chippewa omaumeg, or people who live on the peninsula, first came into contact with white men in 1658 near Green Bay, Wisonsin, but they soon withdrew to the headwaters of the Fox River and later to the headwaters of the Wabash and Maumee rivers. The Miami had good relations with the French, with whom they were allied. They were also closely associated with the Piankashaw, who were once thought to be part of the Miami tribe. Huron (Wyandot): The name Wyandot (or Wendat) is Iroquoian for people of the peninsula, a reference to a peninsula in sourthern Ontario eas of Lake Huron where they originally lived. Their population was estimated at 20,000 in 1615 when first encountered by the French under Samuel de Champlain, who referred to them as Huron (bristly-headed ruffian). The first Wyandot groups inthe region probably arrived in the early fourteenth century. In addition to maize, the Wyandot raised beans, squash, sunflowers and tobacco. Ottawa: The name Ottawa is derived from the Algonquian adawe, meaning to trade, an apt name for the tribe, who had an active trading relationship with the related Chippewa and Potawatomi as well as other tribes of the region. Like the Chippewa, they built birch bark canoes and harvested wild rice. Ottawa Chief Pontiac rose by 1755 as one of the most important Indian leaders of the era. Ojibwa (Chippewa): To end any confusion, the Ojibwa and Chippewa are not only the same tribe, but the same word pronounced a little differently due to accent. If an O is placed in front of Chippewa (Ochippewa), the relationship becomes apparent. Ojibwa is used in Canada, although Ojibwa west of Lake Winnipeg are sometime referred to as the Saulteaux. In United States, Chippewa was used in all treaties and is the official name. The Chippewas were the largest and most powerful tribe in the Great Lakes country, with a range that extended from the edge of Iroquois territory in the Northeast to the Sioux-dominated Great Plains. Both of these major tribes were traditional Chippewa rivals, but neither was powerful enough to threaten the Chippewa heartland, where the Chippewa was master. The tribe used the lakes and rivers of the region like a vast highway network, and developed the birch bark canoe into one of the continents major means of transportation. Northwest Nez Perce: Nez Perce is a misnomer given by the interpreter of the Lewis and Clark expedition team of 1805. The French translate it as pierced nose. This is untrue as the Nee-me-poo did not practice nose piercing or wearing ornaments. The pierced nose people lived on the lower Columbia River and throughout other parts of the Northwest. The famous indian chief and leader, Chief Joseph, was of the Nez Perce. Flathead (Salish): The Flathead, a subgroups of the Spokane tribes, were given their name from a custom common to many Salishan people of practicing head deformation by strapping their infants to hard cradleboards. This flattened the back of the head and made the top appear more round. The Flathead, conversely, did not practice head flattening, and therefore the tops of their heads were flatter than those of the other Salishan people, hence the name. Blackfoot (Siksika): The Blackfoot are one of the several numanic-speaking tribes, and were historically allied with the nomadic Atsina. Ther were the archetypal Plains Indians, for whom the buffalo provided nearly all their needs, from food to clothing to leather for their tipis. Shoshone (Shoshoni): The Shoshone were the most wide-ranging of the Great Basin tribes, with a habitat that stretched from the eastern Oregon desert to southern Colorado. They were closely related to the Bannock, Gosiute, Paiute and Ute, with whom they shared these lands and with shown there was a good deal of intermarriage. Kwakiutl: The Kwakiutl were one of the major tribes of the Northwest Coast and once encompassed other nearby tribes such as the Bella Bella, Kitimat, Makah and Nootka, with whom they are linguistically related. Their villages were typical of the Northwest Coast, with large cedar plank houses and intricately carved totem poles, representing the animals with whom a particular family might be religiously associated. Works Cited â€Å"Rebuilding Native American Communities† by Don Coyhis Richard Simonelli, Child Welfare, Mar/Apr 2005 (15 pages). â€Å"Native American Feminism, Sovereignty, and Social Change† by Andrea Smith, Feminist Studies, Spring 2005 (17 pages). â€Å"The Paradox of Native American Indian Intellectualism and Literature† by Kathryn Winona Shanley, MELUS, Fall/Winter 2004 (20 pages). â€Å"American Indian History as Continuing Story† by Peter Iverson, Historian, Fall 2004 (8 pages). â€Å"Anti-colonial Strategies for the Recovery and Maintenance of Indigenous Knowledge† by Leanne R. Simpson, American Indian Quarterly, Summer/Fall 2004 (12 pages). â€Å"Sovereignty: The Rhetoric v. The Reality† by Paul Boyer, Tribal College Journal, Fall 2004 (4 pages). â€Å"Developing an Effective Approach to Strategic Planning for Native American Indian Reservations† by Nicholas Zaferatos, Space Polity, April 2004 (18 pages). â€Å"Ethnogeography and the Native American Past† by James Carson Taylor, Ethnohistory, Fall 2002 (20 pages). â€Å"Indigenous Identity† by Hillary N. Weaver, American Indian Quarterly, Spring 2001 (16 pages) â€Å"What We Want to be Called? † by Michael Yellow Bird, American Indian Quarterly, Spring 1999 (21 pages) â€Å"Native American Population Pattern† by Mathew J. Shumway, Geographical Review, April 1995 (17 pages) . The North American Indian Jewelry and Adornment (Harry N. Abrams, 2003) Native American: A History in Pictures (DK Adult, 2000) Atlas of North American History (Checkmark Books, 2000) We Are Still Here: American Indians in the Twentieth Century (Harlan Davidson Inc. 1998) The Native Americans: The Indigenous People of North America (Advanced Marketing Services, 1999) Through Indian Eyes: The Untold Story of Native American Peoples (Readers Digest Association, 1995) Dictionary of Native American Mythology by Gill, Sam D and Sullivan, Irene F (ABC-Clio, 1992) Exiled in the land of the free: Democracy, Indian nations, and the U. S. Constitution (Clear Light Publishers, 1991) The Native American Experience (Facts on File, 1991). The great father: the United States government and the American Indians by Prucha, Francis Paul (University of Nebraska Press,1986) Voices of the Winds: Native American Legends by Edmonds, Margot and Clark, Ella Elizabeth (Facts on File, 1989) Atlas of the North American Indians by Waldman, Carl (Facts on File, 1984) Changes in the Land: Indians, Colonists, and the Ecology of New England (Hill Wang, 1983) The Talking stone: An anthology of native American tales and legends (Greenwillow Books, New York, 1979) The Indians of the southeastern United States by Swanton, John Reed (Smithsonian Institution Press, 1979)

Galileo Essay -- essays research papers

Galileo "Whereas Galileo spent his last days under house arrest and was formally condemned by the Church for his scientific views, the elder Darwin was widely respected by the Anglican Church and was buried at the Westminster Abbey, an honor reserved for only the most illustrious personages of Great Britain. The reason for the two scientists' very different fortunes is simple: Galileo couldn't prove the Copernican hypothesis but Darwin was able to demonstrate the truth of his theory of evolution." In the world of Galileo proof was what was needed to succeed with a scientific hypothesis. In the world of Darwin proof was not needed for a scientific hypothesis to succeed. There were many differences in the worlds of these two great scientists that lead to the reaction to their respective scientific hypothesize. It was not their beliefs alone that led to their peer's views it was also the way each of them conducted themselves. Galileo worked his way to become a respected scientist by most of the intellectual community but he was also despised by many because of his background and because of his attitude towards others. Darwin was well respected by the intellectual community, but the difference was the way they conducted themselves when they were dealing with their hypothesizes. Galileo's Hypothesis Galileo was well known for standing up for what he believed in and pushing the things he wanted. He was constantly writing letters and engaging in debates over the issue of Copernicanism. Galileo's entire reason for doing this was to make the scientific and religious communities accept that Copernicanism was actually a fact and that there was enough proof to believe it. One example of the way Galileo strongly pushed his beliefs on others was the way he preached Copernicanism to the people of Rome in 1615. While he was in Rome trying to improve the church's opinion of him, Galileo was also debating the Aristotelians over this issue and beating them at their own game. Because of his natural talent for debate and because of his intelligence was able to outwit the Aristotelians in these debates. Galileo acted this way because he believed that he was in a position to make these kinds of statements without getting on the wrong side of the church. These actions show that Galileo was very insistent upon his ideas and upon what othe... ...did not have to be subject to the approval of the Catholic Church. Darwin and Galileo were very different men who are both remembered as great scientists of their times. While Galileo was condemned for his efforts Darwin was remembered as a hero. This was because of their different methods of presenting their ideas. Galileo was a fighter who would not back down from a fight until he was pitted against the Vatican and faced with excommunication. He tactics caused many people to despise him in his time, which lead to the ban of his book on Copernicanism. While Darwin preferred to work in his home and have others fight his battles for him. It was because of Darwin's passive promotion of his book that he made very few enemies when compared to Galileo. If Galileo was more like Darwin he may have been better off at the time of his death. While much of the Copernican theory is know as fact now there is still a debate over Darwinism. This is because it has yet to be proven definitively. Darwin was still honored for his contribution of this theory because he did it in a scientific manner and did not impose his opinion onto others.

Operating Cycle

OPERATING CYCLE The way working capital moves around the business is modeled by the working capital cycle. This shows the cash coming into the business,what happens to it while the business has it and then where it goes. the term operating cycle otherwise known as â€Å"cash cycle†. In order to earn sufficient profits,a firm has to depend on its sales activities apart from others. The continuing flow from cash to suppliers,to investors,to debtors and back in cash. The time gap is technically termed as operating cycle. In other words,the duration of the time required to complete the following sequence of events,in case of a manufacturing firm,Is called operating cycle. 1)Conversion of cash into raw materials 2)Conversion of raw materials into work-in-progress 3)conversion of work-in-progress into finished goods 4)conversion of finished goods in debtors 5)conversion of debtors to cash Bewteen each stage of this working capital cycle there is time delay. For some business this will be very long where it takes them a long time to make and sell the product. They will need a substantial amount of working capital to survive. Others though may receive their cash very quickly after paying out for raw materials etc. They will need less working capital. For all businesses though they need to plan how much cash they are going to have. The best way of doing this is a CASH FLOW FORECAST. WORKING CAPITAL CYCLE From the above chart,it can be observed that the firm’s liquidity of a minifacturing firm depends an operating cycle involved in the conversion process from raw materials into finished goods and then sales into cash. In case of non-maifacturing firms,the operating cycle will include the length of the time required to convert: )Cash into inventories b)Inventories into debtors c)debtors nto cash To determine the operating cycle period,time lag associated with all the individual activities of working cycle are to be determined first. Then summing up all the individual time lags working capital cycle is to be ascertained. Determine of individual time lags are shown as follows Raw Materials Conversion Pe riod The RMCP denotes the period for which the raw materials are generally are kept in stores before it is issued to the production department. It is calculated as : RMCP= Average inventory of raw materials and stores †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Averahe daily consumption of raw materials Work-In-Progress conversion period(WPCP) It refers to the period for which the raw materials remain in the production process before it is taken out as finished products. WPCP being done in the following ways : WPCP= Average work-in-progress †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Average daily factory cost of production Finished Goods Conversion Period(FGCP) It refers to the period for which finished goods remain in stores before being sld to the customers. It is measured as : F GCP= Average stock of finished goods †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Average cost of goods sold per days Receiveable Collection Period(RCP) It is the time required to convert the credit sales into cash realizations,i. e. , the time allowed to debtors after credit sales for making the payment. RCP= Average debtors †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Average daily credit sales Payment Deferral Period(PDP) The firm may get sum credit facilities from the suppliers of raw materials,wage earners etc. As the firm enjoys credit,this period has the effect of the reducing money lock period in the operating cycle. CPP= Average creditors †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Average daily credit purchase COMPUTATION OF WORKING CAPITAL IN BIRLA CORPORATION LIMITED (Rs. In lakh) As on 31. 3. 08 As at 31. 3. 07 As at 31. 3. 06 CURRENT ASSET Inventories 20044. 82 14258. 83 10572. 33 Sundry debtors 3171. 25 2722. 47 2248. 22 Cash and Bank 3135. 65 3439. 42 5922. 59 Balances Other Current 28. 38 Assets Loans and 47311. 7 30525. 34 12442. 01 Advances †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ TOTAL 73662. 99 50946. 06 31213. 53 LESS-CURRENT LIABILITIES AND PROVISIONS Current Liabilities 30109. 32 24092. 95 25753. 21 Provision 73662. 99 19215. 28 4489. 21 NET WORKING CAPITAL 8246. 75 7637. 83 971. 11 [pic][pic][pic]PLEASE DO THIS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Importance of Working Capital Ratios Ratio analysis can be used by financial executives to check upon the efficiency with which working capital is being used in the enterprise. The following are the important ratios to measure the efficiency of working capital. The following, easily calculated, ratios are important measures of working capital utilization. |RATIO |FORMULAE |RESULT |INTERPRETATION | |Stock Turnover |Average Stock * |= x days |On average, you turn over the value of your entire stock | |(in days) 365/ | |every x days. You may need to break this down into | | |Cost of Goods Sold | |product groups for effective stock management. | | | | |Obsolete stock, slow moving lines will extend overall stock | | | | |turnover days. Faster production, fewer product lines, just | | | | |in time ordering will reduce average days. | |Receivables |Debtors * 365/ |= x days |It takes you on average x days to collect monies due to | |Ratio |Sales | |you. If your official credit terms are 45 day and it takes | |(in days) | | |you 65 days. | | | |One or more large or slow debts can drag out the average | | | | |days. Effective debtor management will minimize the | | | | |days. | |Payables Ratio |Creditors * 365/ |= x days |On average, you pay your suppliers every x days. If you | |(in days) |Cost of Sales (or | |negotiate better credit terms this will increase. If you pay | | |Purchases) | |earlier, say, to get a discount this will decline. If you simply | | | | |defer paying your suppliers (without agreement) this will | | | | |also increase – but your reputation, the quality of service | | | | |and any flexibility provided by your suppliers may suffer. |Current Ratio |Total Current |= x times |Current Assets are assets that you can readily turn in to | | |Assets/ | |cash or will do so within 12 months in the course of | | |Total Current | |business. Current Liabilities are mount you are due to | | |Liabilities | |pay within the coming 12 months. For example, 1. 5 times | | | | |means that you should be able to lay your hands on $1. 50 | | | | |for every $1. 00 you owe. Less than 1 times e. g. 0. 5 | | | | |means that you could have liquidity problems and be | | | | |under pressure to generate sufficient cash to meet | | | | |oncoming demands. | |Quick Ratio |(Total Current |= x times |Similar to the Current Ratio but takes account of the fact | | |Assets – Inventory)/ | |that it may take time to convert inventory into cash. | |Total Current | | | | |Liabilities | | | |Working |(Inventory + |As % |A high percentage means that working capital needs are | |Capital Ratio |Receivables – |Sales |high relative to your sales. | |Payables)/ | | | | |Sales | | | A measure of both company’s efficiency and its short-term financial health. The working capital ratio. The working capital ratio is calculated as: Positive working capital means that the company is able to pay off its short-term liabilities. Negative working capital means that a company currently is unable to meet its short term liabilities with its current assets(cash,accounts receiveable,inventory). If a company’s current asset do not exceed its current liabilities,then it may run into trouble paying back creditors in the short term. The worst case scenario is bankruptcy. A dceclining working capital ratio over a longer time period could be that the companys sale volumes are decreasing,and as a result,its accounts receiveables number continues to get smaller and smaller. Working capital also gives investors an idea of the company’s underlying operational efficiency . Money that is tied up in inventory or moey that customers still owe to the company cannot be used to pay off any of the company’s obligations. So if a company is not operating in the most efficient manner(slow collection),it will show up as an increase in the working capital. athis can be seen by comparing the wotking captal from one period to another;skow collection may signalan underlying problem in the company’s operations. FOR LIQUIDITY POSITION As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Current ratio 1. 13 1. 18 1. 3 [pic] INTERPRETATION This ratio reflects the financial stability of the enterprise. The standard of the normal ratio is 2:1 but in most of companies standard is taken according to Tandon Committee which is taken as 1. 33:1. Now if we analyze the three years data it can be predicted that it holds a stable position all through out period but it is seen that it holds a low position than the standard one and the company is required to improve its p osition. As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Quick ratio 0. 82 0. 84 0. 68 [pic] INTERPRETATION It is the ratio between quick liquid assets and quick liabilities. The normal value for such ratio is taken to be 1:1. It is used as an assessment tool for testing the liquidity position of the firm. It indicates the relationship between strictly liquid assets whose realizable value is almost certain on one hand and strictly liquid liabilities on the other hand. Liquid assets comprise all current assets minus stock. By analyzing the three years data it can be said that its position was weak in the year 2006 but itimproved significantly in the next two years and was stable during that year. But it is to be said thatit does not meet with the standard but in the year 2007 & 2008 it was very close to the standardand it can be said that its liquidity position on an average is stable. As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Working capital ratio 0. 06 0. 07 0. 01 [pic] INTERPRETATION This ratio indicates whether the investments in current assets or net current assets ( i. e. , working capital ) have been properly utilized. In order words it shows the relationship between sales and working capital. Higher the ratio lower is the investment in working capital and higher is the profitability. But too high ratio indicates over trading. This ratio is an important indicator about the working capital position. Now if we analyze the three years data, we find that it follows an increasing trend which means that its investment in working capital is lower and the company is utilizing more of its profit. But we find that ratio is increasing at a very fast rate which is not a good sign for the company and the company is required to look into these matters closely. FOR PRFITABILITY POSITION As on 31. 03. 8 As on 31. 03. 07 As on 31. 03. 07 Gross profit ratio 34. 36% 31. 40% 14. 67% [pic] INTERPRETATION The gross profit margin reflects the efficiency with which management produces each unit of the product. This ratio of the gross profit to net sales of the business. This ratio gives information about the movement of stock and earning capacity of the business. A high gross profit margin ratio is a sign of good management. it increases higher sale price. As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Net profit ratio 22. 2% 20. 82% 10. 35% [pic] INTERPRETATION A net profit ratio establishes a relationship between net profit and sales and indicates management efficiency in manufacturing,administrating and selling the products. The ratio is very helpful for measuring the profitability of the business. If the net froit margin is inadequate,the firm will fail to achieve satisfactory return on shareholders fund. As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Oprating profit ratio 19% 16. 27% 3.. 50% [pic] INTERPRETATION The ratio shows the relation between the entire operating cost and net sales. It indicates the efficiency of the management in operating the business. FOR MANAGEMENT EFFICIENCY As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 Debtors turnover ratio 5. 72 days 5. 53 days 5. 79days [pic] Debtors turnover indicates the number of times of debtors turnover each year. generally the higher value of debtors turnover,the more efficiency in management credit. the shorter the average collection period,the better the quality of debtors. A short collection period implies the prompt payments by debtors. As on 31. 03. 08 As on 31. 03. 07 As on 31. 03. 07 CREDITORS TURNOVER 3. 96 days 4. 54 days 7. 72 days RATIO [pic] The ratio reveals the number of days the business or the company enjoys as credit period from its sundry creditors. A very largr credit period in this case indicates over-trading by the company. CALCULATION F MAXIMUM PERMISSABLE BANK FINANCE (MPBP) IN THE YEAR 2008 CURRENT ASSET,LOANS AND ADVANCES Inventories 20044. 82 Sundry debtors 3171. 5 Cash and bank 3135. 65 Loans and advances 47311. 27 Total 73662. 99 CURRENT LIABILITIES AND PROVISION Current liabilities 30109. 32 Provision 35306. 92 Total 65416. 24 Working capital=current assets – current liabilities = 73662. 99 – 65416. 24 = 8246. 75 Own contribution= 25% of working capital = 25% of 8246. 75 = 2061. 68 MPBF = 8246. 75 – 2061. 68 = 6185. 07

History of enlightenment Essay

(1) Newtonian theory vs. Einstein and Heisenberg The Newtonian theory refers to the work of one of the earliest scientists known as Isaac Newton who stated that, the laws of nature (gravity) controlled the stable movements of objects and also maintained the delicate balance that holds things firmly to the ground. However, since then this theory has been subjected to many conflicting philosophical views and opinions that have either challenged or supported it. The emergence of Albert Einstein and his genius in physics, for instance, gave way for heated debates about the credibility of the Newtonian theory of natural law and gravity. Albert Einstein in his proposed theory of relativism helped to extend Newtonian dynamics to include motion at speeds of approaching than that of light. This new additional clause on the initial theories of gravity saw the revolutionary perception of the effect of motion on gravity. The new findings led to the disputation of the absoluteness of Newtonian theory in that, Einstein discovered some faults that made the Newtonian theory incomplete and questionable. Einstein was able to learn that some elements such as time, mass, energy, space, and even matter are not necessarily absolute in themselves, they can therefore be measured or altered by a person depending on the nature of his/her study variables. [Nick Strobel, 2001] Warner Heisenberg later emerged to add his findings on what he called â€Å"quantum† mechanics that described motion on a subatomic scale. In his findings Heisenberg, asserted that the universe was full of uncertainties that made it not an obvious phenomenon to ever understand. â€Å"The more precisely the position is determined the, the less precisely the momentum is known at this instant, and vice versa† The work of these two scientists heralded the genesis of new studies that sought to provide insights on initially abstract theories, the Newtonian one included. [Mr. Edmondson, 2000] (2) Social Darwinism and Hitler The theories of social Darwinism, provided for a healthy competition among individuals, groups, nations, and the global world as a whole for purposes of achieving social evolution amongst human societies. Social Darwinism is a derivative from the Charles Darwin’s theory of natural selection. Natural selection according to Darwin is the process of speciation in populace that is brought about by competition between individual mortals for limited resources a phenomenon called, â€Å"survival for the fittest†.   [Johnson, D. Paul, 2008] In his book, â€Å"Main Krampf† Hitler expresses acknowledgement of both the principals of social Darwinism and natural selection, this he exhibits by asserting that the world should be classified to people’s ancestry, a classification that will involve with some people being placed on higher classes than others, he quoted the example of Germany Aryans as more superior than the blacks, Jews, and gypsies as belonging to a lesser class. Again, Hitler is seen as acting beyond the dictates of social Darwinism or even the principal of natural selection with his racial attitude towards the Jews whom he accuse of abetting racial dilution tactics in order to bring about equality. His perception of social Darwinism and natural law was about the political, social, and economic struggle between the mainstream Aryans and the minority Jews. His racialism attitudes led him to the gassing and brutal murdering of millions of Jews as a way of satisfying his own â€Å"social Darwinistâ €  theory. [Mein Kampf, 1939] (3) Sigmund Freud vs. John Locke According to john Locke, â€Å"self† is the conscious thinking thing which is in itself reasonable or conscious of pleasure and pain and proficient of cheerfulness or melancholy, and so is concerned for itself, as far as that awareness extends. In other words to him self is a character awareness and self thoughtful awareness that is fixed in the body.   [Locke, Essay, 1997] In his work â€Å"some thoughts concerning Education† he indicates it is education that fills the rather â€Å"empty human mind†, by asserting that out of the ten men he meets with nine of them are what they are, morally upright or morally rotten, useful or not, good or evil, chiefly due to their education. [Locke, Some Thoughts, 1996] Further he argued that little and almost insensible impressions we make when we are young having lasting impacts to ourselves simply due to the fact that they were the foundations of the self. [Locke, Some Thoughts, 1996] On the other hand Sigmund Freud differed vehemently with Lockean theory in that he argued that human beings behavior is controlled largely by their unconscious minds. He argued that the understanding of conscious thoughts and behavior is determined by revisiting the unconscious mind. He developed â€Å"repression† as key factor that determined unconscious, out of belief that far many people repress painful memories into their unconscious minds. He further clarified that the very process of repression took place within an individual’s conscious mind but rather in the unconscious one, and therefore many people are unaware that is happening on them. [Barlow DW, Durand VM, 2005] Finally Freud stubborn stance on the unimportance of both education and treatment to the alleviation of violence or suffering can be attributed to his changing of the system of unconsciousness and modeling it into the concept of Ego, super-ego, and id.   Super ego is ability to psyche ones morals and not taking in to account circumstantial morals situations, while Id was derived from William James early works. It is in light of this that Freud vehemently disputed the notion that the success of the population relied on education.   [Barlow DW, Durand VM, 2005] Freud model of mind has been a great challenge to the enlightenment model of rational agency which then was a core element in modern philosophy.

Free Essays on Through A Childs View

Through A Child’s View The Little Prince is a short novel that states the fact that children are the wisest, most intelligent people living. The reason the author tries to get this message across is because he feels that the simple things that children see and think about are in fact the most important things in life, and adults can no longer see them because they are blinded and callused to them from their experiences that they have had in their lives. The Little Prince thinks that grown ups are very misled, and have their priorities in life all out of line. The examples that the author uses to prove this are the examples of the businessman, who does nothing but count stars â€Å"money† and the vain man who wants nothing but praise, or the drunk who only drinks. I think the way the author describes the drunkard is just awesome because he says that the drunk only drinks because he has to drown out the fact that he feels very guilty for drinking. That is exactly how I see drunks and I wish that they would realize that their problems are mainly caused by their drinking and if they would stop then they could handle their problems instead of making them worse. The Little Prince has respect for one of the characters he meets far above the rest. This man was the lamplighter. He respects that lamplighter because this man does not do the job he is given just for himself. The lamplighter lights the lamps for the other people out there who need the light. There are really no people that need the light but the lamplighter does his job anyway. A theme taught in this story that the author shows is the sense of emotion felt in the heart. â€Å"One sees clearly only with the heart. Anything essential is invisible to the eyes. (63).† The author states this fact when the Little Prince is bidding farewell to his fox that he has grown very fond of and is telling him about the rose who is also his friend. I think that the author’s point is that t... Free Essays on Through A Child's View Free Essays on Through A Child's View Through A Child’s View The Little Prince is a short novel that states the fact that children are the wisest, most intelligent people living. The reason the author tries to get this message across is because he feels that the simple things that children see and think about are in fact the most important things in life, and adults can no longer see them because they are blinded and callused to them from their experiences that they have had in their lives. The Little Prince thinks that grown ups are very misled, and have their priorities in life all out of line. The examples that the author uses to prove this are the examples of the businessman, who does nothing but count stars â€Å"money† and the vain man who wants nothing but praise, or the drunk who only drinks. I think the way the author describes the drunkard is just awesome because he says that the drunk only drinks because he has to drown out the fact that he feels very guilty for drinking. That is exactly how I see drunks and I wish that they would realize that their problems are mainly caused by their drinking and if they would stop then they could handle their problems instead of making them worse. The Little Prince has respect for one of the characters he meets far above the rest. This man was the lamplighter. He respects that lamplighter because this man does not do the job he is given just for himself. The lamplighter lights the lamps for the other people out there who need the light. There are really no people that need the light but the lamplighter does his job anyway. A theme taught in this story that the author shows is the sense of emotion felt in the heart. â€Å"One sees clearly only with the heart. Anything essential is invisible to the eyes. (63).† The author states this fact when the Little Prince is bidding farewell to his fox that he has grown very fond of and is telling him about the rose who is also his friend. I think that the author’s point is that t...

Business Analysis Of HSBC

Business Analysis Of HSBC HSBC is public limited bank and it’s headquartered is located in London, England since 1993. HSBC bank was founded in 1865 in and it was started with name † The Hong kong and Shanghai Banking corporation â€Å".The bank has lots of branches throughout the world. HSBC bank offers wide range of banking, Investment and financial service to high and economic customers. It holds international network of 8000 properties in 88 countries and regions in Europe, Hong kong, Rest of Asia-Pacific, The Middle East, The Americas and Africa. Previously, the Middle East is known as part of ‘Rest of Asia -Pacific ‘. HSBC offers comprehensive range of financial service within these international network. Banking service such as Credit and debit accounts, bank loans (secured loans, loans, unsecured loans, car loans etc.), mortgages, overdraft facility, and insurance are being served by the bank. It also provides Internet banking and Offshore banking. HSBC is one of the worldâ €™s largest banking and financial service group with 8th rank, according to Forbes Magazine. It has market capitalisation of US$ 199 billion since 31st December 2009. It is listed on the so many stock exchanges like London, Hong kong, New York , Barmuda and Paris; it is also part of the FTSE 100 index and HangSeng index. HSBC is also world’s first bank which was opened internationally that means â€Å"World’s Local Bank† and it was financed various projects like Railroad Building due to mordenization in early 20th century. History of HSBC: The history of HSBC is as old as extremely intresting for the each and every person and organization who wants great deal with the bank around the globe. Furthermore, bank is offering large amount of service to an individuals and institutions. FOUNDATION AND GROWTH : HSBC originally stands from â€Å"The Hongkong and Shanghai Banking Corporation † which is established by Scot Thomas Sutherland in Hongkong ( 3rd marc h ) in 1865. Then and as now,1 Queen’s Road Central was bank’s headquartered in Hongkong , plus another was opened in Shanghai one month later in 3rdapril 1865 to finance growing trade between China and Europe. In addition, one year later the London office was opened. During the nineteenth and early twentieth century, the bank opened its more branches in China, Asia, Japan, Europe and North America to provide financial service for its clients. Throughout the Second war the bank closed its many branches due to an international financial crisis and the head office was temporarily moved from Hongkong to London. Then after, the bank played major roll in rebuilding of Hongkong economy and that was the time for geographical spread through acquisition and alliances . In 1959, the bank purchased two banks that was The British Bank of Middle East and The Mercantile Bank (based in India). The Bank moved to Canadian and Australian market to expand its business during 1981-1986. I n 1987 The Marine Midland Bank (Now HSBC Bank of USA) became a member of the group. In 1991, HSBC Holding PLC was established and it became parent company to The Hong kong and Shanghai Banking Corporation, the shares were traded in both London Hong -kong stock exhanges.

Contract Analysis. Newport Management Corp. Administrative and Research Paper

Contract Analysis. Newport Management Corp. Administrative and CoreLogic Tax Outsourcing Service Agreements - Research Paper Example It is a services agreement entered into between the company and Citi Loan Services. Performance for the servicer, which is Citi Loan Services, on the other hand, is measured against its obligations, stipulated clearly in the contract as well. This includes exclusivity of the engagement on the part of the Servicer, whereas the contract is non-exclusive for the Company (Newport Management Corp.). B. Quality The provisions in general are adequate and provide termination and escape clauses for non-performance as well as for breach of contract terms. Performance quality is measured in terms of compliance with the obligations on both sides. There are representation clauses too, as well as privacy and confidentiality clauses and audit clauses that offer substantial legal protection for both parties in those areas. There is a set period of three years for the contract, and terms for a yearly renewal, as well as termination clauses. The indemnification and arbitration clauses are detailed and comprehensive, and cover many substantial areas of potential dispute. Quality standards for service are also clearly stipulated in the Appendix, Appendix D, giving the servicer concrete metrics with which to gauge the quality of service provided by the Company. There are clauses too that strictly define the terms of indemnification and the limitations on potential liabilities on the part of both parties. (Newport Management Corp.). C. Financial Compliance ' Financial compliance clauses are stipulated under fees, and in the provisions relating to performance and to termination, arbitration, and audit clauses. All these are premised on servicer complying with the financial terms of the agreement, where the Company gets a fixed fee for every processed insurance item. The clauses on arbitration provide another means to further reinforce or to clarify contract terms relating to financial compliance and other matters of interest to both parties (Newport Management Corp.). D. Compliance a nd Risk Management ' The limitation on liability is an express clause that provides a level of risk protection for both parties in the case of legal disputes arising out of the activities of either or both. This is a way for both parties to manage the risks of engaging with one another, together with the clauses on representation. On the other hand, the indemnification, arbitration, confidentiality and privacy as well as security, audit, and standard metrics for measuring performance all reinforce the safety of the undertaking and secure compliance from both parties, while mitigating the risks of harm to both in the event of breach of contract. In all the detailed coverage of these aspects of the contract add to managing the risks of entering into the agreement for Newport and Citi Loans, while providing provisions to make sure that both perform their obligations under it (Newport Management Corp.). II. CoreLogic Tax Outsourcing Service Agreement A. Performance There are few provisi ons for securing the performance of the customer where the customer is in breach of its obligations. There are no explicit clauses that define what the obligations of the customer are under the contract, and where the penalties for non-performance of