Thursday, October 31, 2019

Write a summary on the short story the necklace Essay

Write a summary on the short story the necklace - Essay Example She hates her world of â€Å"poverty† and its â€Å"worn walls† and yearns for â€Å"large parlors, decked with old silk†¦coquettish little rooms, perfumed†¦Ã¢â‚¬  These are opposing images that describe the life that Mathilde has and the life she would have rather wanted for herself. Because of what she thinks she is born for, she has become a discontented woman. Furthermore, the necklace is a social status symbol. It stands for the social class that Mathilde wanted to climb, but failed to do so. Mathilde has too much pride; she believes herself to be superior to her social class. Her thoughts are devoted to the notion that she should be â€Å"envied,† â€Å"seductive† and â€Å"sought after.† de Maupassant employs dramatic irony to foreshadow the inevitability of Mathilde’s great loss, when Mme. Forester easily lends her a supposedly-expensive necklace. Somehow, this already points out that the necklace might not be that expensive after all. Still, Mathilde has chosen that necklace precisely because it fits the self-importance she has attached herself to. Mathilde paid a heavy literal and figurative price for her materialism. She is immersed in dreams of grandeur and a better life, a life of parties and luxurious material possessions. When she gets invited to a grand party, she wants a new dress, even if they can hardly afford it, and even borrows a diamond necklace, without thinking of the risks involved. When she loses the necklace, she almost loses her mind. She and her husband bought a new one to replace the lost necklace. From here, Mathilde learns â€Å"rough work of the household, the odious labors of the kitchen.† Situational irony is shown here, because Mathilde only wanted to be beautiful and sought after for one night, but she paid for this night with ten years of hard work that reduced her physical beauty. Hence, she paid a literal and figurative cost for

Tuesday, October 29, 2019

Parody vs Spoof Essay Example for Free

Parody vs Spoof Essay People are often confused about the word or the concept of a â€Å"Parody†. They often thought that it is synonymous to a â€Å"Spoof† because they share the same features that are commonly misunderstood. But there’s a difference between the two; and this paper aims to redefine, disambiguate, and clear the concept of a â€Å"Parody† from the concept of a â€Å"Spoof†. This paper will explain the concept of a â€Å"Parody† in general, using music videos specifically from YouTube to have a concrete example of a â€Å"Parody† in order to have a firm grasp of the concept. What is a â€Å"Parody†? According to Merriam-Webster’s Dictionary, a â€Å"Parody† is: a literary or musical work in which the style of an author or work is closely imitated for comic effect or in ridicule; a feeble or ridiculous imitation. While according to Britannica Encyclopedia: In literature, parody is when a person closely imitates an author’s style or work in order to ridicule or to provide comic effects. The word comes from the Greek â€Å"Paroidia†, meaning a song sung alongside another. Parody differs from burlesque by the depth of its technical penetration and from travesty, which treats dignified subjects in a trivial manner. True parody mercilessly exposes the tricks of manner and thought of its victim yet cannot be written without thoroughly appreciating the work that it ridicules. Basically, a parody is an act of imitation of an original work by slightly altering its original style and content but still able to obviously show the original work in order to make the parody effective for the audience; its purpose is to critically ridicule, mock, and show the folly and absurdity of the original work through exaggerations and humor. It’s an implicit comment on the original work by showing his comments not by directly telling it in the parody. What appears serious in the original work is shown ridiculously because through comedy, all of the things that are not accepted by the society will blur because of the humor and laughter. Thus satire comes in if the parody goes beyond the style or content of the work and attacks the author or the maker of the original work. Here’s a good example of a music video parody by The Key of Awesome!, entitled What Makes You Beautiful One Direction Parody! Key of Awesome #57. http://www.youtube.com/watch?v=t7CHfqg0wd8 A parody of the music video of a boy band named One Direction and their song called â€Å"What Makes You Beautiful†. In here, We can see that the maker of the parody retained the concept of the music video and just altered the lyrics and show the folly and absurdity of the original music video through humor. It’s a little bit satirical because of some of the lyrics were pertaining to the boy band itself. Now that we have define what is a â€Å"Parody†, next is that we need to define what the concept of a spoof is. Spoof is defined in the Merriam-Webster’s Dictionary as: to make good-natured fun of. Thus, it means that a spoof is just for fun sake. In music videos, a spoof is something that incorporates the concept of a original work and alters it but doesn’t comment or critically pertain on it. It’s just a plain comedy version of the original and irrelevant to the concept of it. Here’s a good example of a spoof. A parody entitled â€Å"Hipon† (Payphone Parody) by Sir Rex Kantatero ft. Shehyee http://www.youtube.com/watch?v=mguMEXQIrHs; a spoof of the music video of a song called Payphone by Maroon 5. It’s evident that people are confused by the concept of a parody and a spoof; even though the title states it’s a â€Å"Parody† but it is an example of a spoof. In here, we can see that the maker of the spoof incorporates the tune of the original work but alters the concept and the lyrics of it. He just makes fun of the tune and basically added humor on its lyrics and video. The new concept of the video was completely irrelevant to the original and doesn’t contain any critique about the original one. Satire is still a very broad concept, but I will not go on there. What’s important is that we have already differentiated the concept of â€Å"Parody† and a â€Å"Spoof†. Yes they are both copy or an imitation of an original work and contains humor but what makes a â€Å"Parody† different from a â€Å"Spoof† is that it still obviously incorporates the concept of the original and has a little altering and it’s purpose is to critically comment on the original work. Whereas a â€Å"Spoof† it’s just a plain comedic version of the original. It doesn’t contain the concept of the original work and any critical comment pertaining on the original one. BIBLIOGRAPHY: Dentith, S.(2011). Parody: The Art that Plays with Art Modernism modernity 190-192. The Johns Hopkins University Press. Kenny, K. (2009) The performative surprise: parody, documentary and critique. Culture and Organization, 15 (2). Kreuz, R. J., Roberts, R. M. (1993). On Satire and Parody: The Importance of Being Ironic. Metaphor Symbolic Activity, 8(2), 97. satire. (2012). In Encyclopà ¦dia Britannica. Retrieved from http://www.britannica.com/EBchecked/topic/524958/satire parody. (2012). In Encyclopà ¦dia Britannica. Retrieved from http://www.britannica.com/EBchecked/topic/444489/parody

Sunday, October 27, 2019

Bone Conduction Technology Impact

Bone Conduction Technology Impact Gabrielle Lau Erin Topping The worlds sounds can be perceived acoustically and as vibrations. Acoustic transmission, also known as air conduction, is sound that travels through the external ear. Through bone conduction, sound waves are transmitted to the inner ear by the cranial bones without traveling through the air in the ear canal (Oticon Medical). Audiologists take advantage of these two principles when creating hearing aids for the deaf and hearing impaired. Traditional acoustic air conduction hearing aids treat and amplify noise appropriately to the user through the ear canals. Unlike air conduction, bone conduction involves bypassing the ear and resting on the bony prominence of the skin. Vibrations travel through the bones and into the cochlea where sound, including acoustic, is interpreted. Despite air conduction succeeding bone conduction in the hearing aid industry, bone conduction technology offers many potential uses and enhanced safety. Inventions such as bone conduction sunglasses and headphone s allow users to immerse themselves in music without muting environmental sounds. Their ears would be open to hearing car horns and hollers, thus preventing many injuries and deaths that were initially caused by earphones blocking surrounding sound (Hsu, University of Maryland). Moreover, scientific studies have also supported the concept, that bone conduction technology causes less damage to the ears than ear buds (Monks, The Audiology Foundation of America). Bone conduction oriented hearing, as compared to air conduction oriented hearing, is a form of sound transmission that has greater potential for a wider variety of uses. Air conduction oriented hearing is the standard sound transmission of the anatomy of ears. Sound travels through the ear canal, and next translated into vibrations by the eardrum. These vibrations then transmit through three tiny bones called the anvil, hammer, and stirrup in the middle ear which amplifies the sound. Lastly, the sound enters the cochlea lined with fluid and thousands of tiny hair cells that will transform the sound vibrations into electrical signals for the brain to interpret. Acoustic hearing aids have technologically advanced tremendously with each aid handling miniscule microphones, processors, and receivers (Townsley). Sound is picked up through the microphone then processed into the specific hearing range of the user. For example, an air conduction hearing aid would pick up sound and strengthen high or low pitched noises to fit the hearing of the patient. Air conduction hearing aids benefit individuals suffering from cochlear damage, where the hair cells that st imulate hearing certain frequencies to the auditory nerve have deteriorated. Bone conduction oriented hearing involves bypassing the external ear and transmitting sound via the bones of the human body, preferably the skull. There are two types of bone conducting hearing aids, bone conduction bands and bone anchored hearing aids. Unlike bone conduction bands, bone anchored hearing aids involve penetrating the skin by surgically implanting a titanium abutment to the mastoid (Oticon Medical). A microphone sound processor latches to this implant in order to directly transmit sound as vibrations to the skull (Townsley). Bone conduction bands consist of a microphone, processor, and elastic band. These two mechanical components latch to the band that is worn around the patients head. The bone conduction hearing aid provides a solution to those with profound hearing loss with sensorineural damage, single-sided deafness, or atresia, a birth defect where individuals are born without an ear canal. This option of hearing has gained most recognition from its ability to he lp the common condition, single-sided deafness. Individuals who suffer such, have an impaired ability to detect the direction of sounds and to separate background noise to make sense of speech (Townsley). To avoid feelings of social isolation and exclusion from this, patients use specifically bone conduction hearing aids to regain consciousness of the position of sound and its source. Moreover, bone conduction hearing aids are used during hearing tests to uncover whether a patient suffers external or sensorineural ear damage (Townsley). The use of air conduction is constant for those with normal hearing. Individuals with unobstructed external ear pathways and normal sensorineural function will automatically hear all sounds acoustically. Air conduction technology encompasses all appliances that allow individuals to hear sound. These include hearing aids, speakers, headphones, speaker implanted into cars and computers, etc. A magnitude of technology utilizes air conduction sound transmission, but the functional purpose of creating sound has not since presented any different potential uses. Though bone conduction technology has been around for centuries, modern developments have shown the magnitude of its use. Ludwig Van Beethoven, born in the late 1700s, utilized sound bite principles to compose music after he threw a temper tantrum, fell over, and stood up to realize he had lost all hearing. By biting on a special rod attached to the soundboard on a piano that he could bite, Beethoven allowed musical vibrations to transfer to his jaw to increase his perception of the sound.(Ealy 143) Bone conduction technology has since advanced as a safety precaution for secret military operations and daily activities. British Aeorspace Systems constructed bone conduction inspired helmets allowing soldiers to hear comms over the loudest battlefield noises and bone phones, ear pieces to use for silent communication (Wood). The documented navy SEAL raid that killed Osama Bin Laden stated the vitality of bone phones for that mission (Owen). The fundamentals of the bone phones have shift ed to also accomodate citizens. In a study conducted by the University of Maryland, it concluded that 70% of all transportation accidents involving earphones led to death. The creation of bone conduction headphones henceforth came about. To promote situational awareness, users can listen to music through a headpiece that firmly sits transducers in front of the ear, on the cheekbones. Hollers and honks from surrounding cars will be heard by the user because their natural hearing sense is no longer depleted by an ear phone. Moreover, certain cell phone companies have begun to develop a bone conduction microphone. For busy men and women who must take calls on the go, but struggle to make their responses apparent and environment non-apparent to their recipient, this speaker will directly pick up the vibrations of their voice simply by resting on their head and transferring it to the phone to process and link to the recipient end. These products have been manufactured into articles of cl othing that can be worn on the head such as baseball caps and glasses. These developments prove that bone conduction technology is advancing into uses beyond the hearing impaired. Additionally bone conduction has been utilized as a marketing gimmick. In the summer of 2015, a Kentucky Fried Chicken (KFC) in South Africa hoped to increase its relevance through creating a modern indoor entertainment system. With the growing number of unsigned musical artists and the fact that KFC was not a record label, the fast food chain decided to create record tables (Chase and Brandt). They took advantage of bone conduction principles by engineering tables where customers would place their elbows on the table and cup their hands on their ears to get a musical treat (Chase and Brandt). This high-tech addition yielded outstanding results in business increased the average dwell time of the customer in store and widespread social media hype about the innovation as well as overwhelmingly positive feedback about the experience (Chase and Brandt). Bone conduction has created a new form of advertisement in an exciting and interactive way that it has been introduced into the public t ransportation systems in Munich and North Rhine-Westphalia. In 2013 Sky Go, a mobile streaming service, enhanced the glass windows of trains to transmit messages through bone conduction to passengers who lay their head on the window. This glass emits high frequencies that the brain processes into words heard by no one else on the train except for those who also have laid their head on the window. Information on weather, music, and advertisements transmitted into the commuters heads. Despite a Sky Go representative, Susanne Keyzers, claiming passengers were surprised but enjoyed this new form of advertising, on camera reactions prove that bone conduction may not be the best fit for transit advertisements. Several passengers looked shocked then angry for not being able to shut their eyes for nap while leaning against a window (Dicker). Though bone conduction has introduced an entirely new dimension to the world of advertisement, manufacturers must recognize the line between voluntary interaction and invasion of privacy. For its invasive characteristics, the talking window has opened an aspect of marketing known as guerilla advertising. Outside of practical and marketing use, bone conduction technology has also made strides in the recreational and comfort fields. Aquatic sportswear companies such as FINIS Incorporated have developed underwater headphones, dubbed the Neptune headphones, through the use of bone conduction principles. This recent innovation mimics the way whales and dolphins communicate underwater (Smith) by transferring sound as vibrations from an mp3 player to small pieces latched over the cheekbones. The music plays as if inside the users head, giving this new headphone a surreal (Smith) reputation. Another company that hoped to take advantage of bone conductions potentials uses was Google. In 2013, Google created its first Google Glass prototype, a glasses gadget that could provide information to its user instantly by being closer to the human senses (Warr). Essentially computer glasses, these gadgets included a bone conduction speaker to transfer information to the user regarding camera use, inter net information, map directions, or music. Due to its still continuing development, the Google Glass has never been sold to the public. The head Glass coordinator, Tony Fadell, spoken out that several versions of Google Glass are being made for different situations. Currently, an Enterprise Edition exists which aimed at businesses in healthcare, manufacturing, and energy industries. And beyond that, bone conduction has become a player in the comfort industry. Integrated Listening Systems built a Dreampad bone conduction pillow in 2014 (Kooser). The Dreampad consisted of several bone conduction speakers fitted into all sort of pillows to help sing users into a pleasant slumber. Their target audiences encompassed those diagnosed with insomnia and those who wish to listen to music or audiobooks to sleep while their bed buddy may prefer complete silence. By using a very subtle sound bone conduction based approach, the Dreampad soothed people to sleep. The expanse of bone conduction tech nology from underwater workouts to inducing sleep, highlight its many uses as compared to air conduction technology. Not only does bone conduction offer a new take on leisure items, it also has become a vital part of entertainment experiences for the deaf community. Recently, the world famous DJ Martin Garrix and the soda brand 7Up teamed up to create a Concert for the Deaf. In cooperation with Fake Love, Martin Garrix and 7UP created a concert for the deaf that utilized a variety of tactile experiments and features to give participants the experience of feeling their music (Meadow). The project involved the construction of numerous vibrating speaker cones and padded flooring, revolving around bone conduction principles, so that the deaf attendees would be able to interact and physically feel the music around them. Visuals were paired to water experiments that the music itself brought to life, creating a completely seamless and encompassing audio and visual experience(Meadow). The designers of this concert created plexi-glass boxes with a thin base level of water. Attached to the bottom, were light s and vibrating speaker cones that vibrated the water at different frequencies. These vibrations accompanied the visual projections and ultimately the beats played by Martin Garrix. Some attendees were also fitted with Subpac-like backpack systems that conveyed bass throughout the body (Meadow). The project thoroughly utilized bone conduction principles in order to gear a musical concert to an all-deaf audience. Though the vibrations could not be perceived as sound because of the audiences complete auditory deafness, the vibrations could be picked up by the bones of the human body in rhythms recognizable to the brain. And the results succeeded expectations. People of all ages who had never heard a sound in their entire lives or for many years enjoyed a night of electronic music and dancing to beats that literally flowed through their bodies. Bone conduction technology can create new inventions, but it can also be a fundamental principle in creating life experiences that yield lastin g amounts of joy and happiness. Some may argue that although bone conduction technology offers a spectrum of uses, its quality does not permit it to reach full potential. Many online reviews of bone conduction inspired works such as Google Glass or the Dreampad are negative. Users usually feel dissatisfied with the vibrational sound being muffled and unclear, and for certain developments, users find them physically unappealing. A recent popular review on the Dreampad gave credit for its impressive technology but derailed it for its limited application (Lovejoy). It also detailed the false sense of the Dreampads efficacy by discussing its limited research. The Dreampad advertising site claimed to have had performed a study with Columbia University. However, the study in its entirety included twenty-nine people with only ten actually using the Dreampad pillow. Additionally, Lovejoy noted that the bone conduction music was almost painful to listen to and that the given podcasts were both muffled and quiet even at maxi mum volume. But, this demonstrates only one heavily studied and documented opinion. For the Google Glass, a plethora of complaints and criticisms arose. Initially this invention held highly regard, being named one of TIME magazines Best Inventions of the Year as well as receiving an astounding number of pages in several popular magazines, being referenced in popular television shows, and even premiering on the runway for New York Fashion Week. But within a year it began its descent into infamy. Its initial exclusivity made it far more desirable and idealized in society. Once technology reviewers got a hold of a pair and both tested and deconstructed it, Google Glass met its downfall. Major criticisms revolved around the weak bone conduction sound system, abysmal battery life, its plague of cyber-bugs, and limited use (Bilton). Google Glass recording abilities made it banned from bars, movie theaters, and casinos. Despite bone conduction technologies good intentions to thrust humanit y into the possibilities of the future, its overall quality has kept it from truly progressing. Clearly, bone conduction offers a great variety of uses. However, it is not necessarily the better option compared to air conduction both in quality and health. As stated earlier, bone conduction inventions have faced excessive criticism concerning the sound quality and whether or not it is effectively portraying sound to those with hearing disabilities. A common misconception, is that bone conduction is a less risky form of headphone and therefore healthier. Headphones that are bone conduction oriented will pass sound through the skull and straight to the bones of the middle ear to the cochlea. Likewise, sound that is transferred through air conduction will pass through the ear canal, ear drum, middle ear bones, and the cochlea. Either way, both still put the hair cells of the cochlea at risk when playing loud music. Listening repeatedly to loud volumes will lead to damage of the cochlea no matter what kind of hearing technology. Air conduction and bone conduction principles have led to a vast amount of advancements in many aspects of life; innovations in hearing, traffic safety, the work place, and even personal comfort. The limits of acoustic sound application stem from the primary purpose of giving off sound for those of normal hearing. As compared to bone conduction, air conduction does not offer as many potential uses or variety of applications. Through the developments of bone conduction headphones, military helmets, glasses, tables, and even pillows one can truly see the possibilities of bone conduction. And beyond tangible objects, bone conduction has played a role in ensuring the safety of pedestrians and bikers and creating impactful memories of hearing and feeling music. Although there are currently many shortcomings, I believe that bone conduction technology has the promise of making countless technological advances in the future. Bone conduction oriented hearing, as compared to air conduction ori ented hearing, is a form of sound transmission that has greater potential for a wider variety of uses. Bone conduction technology has massively expanded in its uses. Now reaching far beyond the hearing aid market it was originally intended for; headphones that help ensure safety, and pillows that play silent music to help the user fall asleep. It has greatly transcended the cell phone company market by offering new ways to add clarity and efficiency to calls. Bone conduction has even reached the battle field, by being implemented into military helmets. Soldiers can now clearly receive and understand orders from their commander over the blasting sounds of cannons, guns, tanks, or aircrafts. It has also become greatly useful in secret operations. By having a slim bone conduction piece attached to the arm, agents are able to communicate silently in the most physically unobvious way: without any headpiece or audible sound. And after defense, bone conduction has been monumental in helping the deaf hear. In a recent concert and commercial put on by 7 Up Soda, the public was able to see how bone conduction speakers and platforms were able to transmit sound to deaf individuals so that they may enjoy a full on visual and physical musical experience. But despite its success and high regard by society, it does have its own shortcomings. Users of bone conduction products have found much fault in its quality as well as its overall efficiency. Reviews on the Google Glass and Dreampad yielded not the most gentle remarks. Critics also point out the use of bone conduction as guerilla advertisement, specifically in the talking window campaign in western Europe. Its invasion of privacy and improper application by Skygo have somewhat downscaled the popularity of bone conduction. However, seeing the amount of things it can do and accomplish, the multiple inventions made, I have believe that the future of bone conduction technology is promising. The potential uses bone conduction technology has are boundless, and I believe will be vital in the development of future inventions and dis coveries. Works Cited Bilton, Nick. Why Google Glass Broke. The New York Times. The New York Times, 04 Feb. 2015. Web. 16 Feb. 2017. Chase, Pete, and Adam Brandt. Sound Bite Interactive Record Table. Best Ads on TV. YUM Brands. 20 July 2015. Web. 01 Feb. 2017. Dicker, Ron. Train Window Ads Vibrate Into Ear Via Bone Conduction As You Lay Head Against Glass (VIDEO). The Huffington Post. TheHuffingtonPost.com, 03 July 2013. Web. 16 Feb. 2017. Ealy, George Thomas. Of Ear Trumpets and a Resonance Plate: Early Hearing Aids and Beethovens Hearing Perception, Vol. 17, No. 3 (Spring, 1994), pp. 262-273, University of California Press. 27 Nov. 2011. Print. 01 Feb. 2017. Greer, Ray. Bone Conduction Headphones: Safety and What to Know. Best of Life Magazine Co. 16 Feb. 2016, pp. 15-20. 01 Feb. 2017. Hsu, Christine. Serious Injuries and Deaths Caused by Headphones Have Tripled Since 2004. Injury Prevention (2012): n. pag. Medical Daily. University of Maryland, 17 Jan. 2012. Web. 01 Feb. 2017. Kooser, Amanda. I Let a Bone-conduction Pillow Sing Me to Sleep. CNET. N.p., 25 Nov. 2014. Web. 16 Feb. 2017. Lovejoy, Ben. Review: Dreampad, the Bluetooth Pillow Speaker with Impressive Tech but Limited Application.9 to 5 Mac. 13 Jan. 2017. Web. 16 Feb. 2017. Meadow, Matthew. Martin Garrix Proves He Has A Heart Of Gold In Emotionally Charged New Video. Your EDM. LLC, 18 Mar. 2016. Web. 09 Mar. 2017. Monks, Kieron. Bone Conduction: Get Used to the Voices in Your Head. CNN. Cable News Network. 29 May 2014. Web. 16 Feb. 2017. Oticon Medical .How Bone Conduction Hearing Systems Work. How Bone Conduction Works. Oticon Medical, n.d. Web. 16 Feb. 2017. Owen, Mark, and Kevin Maurer. No Easy Day: The Autobiography of a Navy SEAL: The Firsthand Account of the Mission That Killed Osama Bin Laden. NY, NY: Dutton Penguin. 2012. Print. 01 Feb. 2017. Smith, Jennifer. Incredible Underwater Headphones That Transmit Music to Swimmers Ears by Vibrating Sound through Their Cheekbones . Daily Mail Online. Associated Newspapers, 30 Sept. 2013. Web. 16 Feb. 2017. Townsley, Christopher. Professional Audiologist Interview. Personal interview. 30 Jan. 2017. Warr, Philippa. Google Glass to Use Bone Vibration Instead of Traditional Headphones.WIRED UK. WIRED UK, 23 May 2016. Web. 16 Feb. 2017. Wood, Anthony. Army Helmets Could Soon Feature Bone Conduction Comms. New Atlas Latest News. Shutterstock. 10 Sept. 2015. Web. 16 Feb. 2017.

Friday, October 25, 2019

To Kill a Mockingbird by Harper Lee - Reflection :: To Kill a Mockingbird Essays

To Kill a Mockingbird Reflection Written in the late 1950s to early 1960s, To Kill a Mockingbird in many ways reflects the state of its society. The Civil Rights Movement was occurring at the time, a fight for human freedom, extending the rights of full citizenship to individuals regardless of race, sex, or creed and the slowly emerging concept of equal rights for all. Although set in the 1930s, it has come to my attention that the book strongly mirrors it ¡Ã‚ ¯s context and was greatly influenced by the values and beliefs of the people at the time. To Kill a Mockingbird in my opinion doesn ¡Ã‚ ¯t represent a true 1930s. It contains many main characters such as Calpurnia and Atticus who have morals and personalities that I felt out-step the time period. These qualities seem to originate from the essence of The Civil Rights Movement instead. In the 1930s an African American woman wouldn ¡Ã‚ ¯t have had so much power over white children like Calpurnia had over Scout and Jem, and people like Atticus who were sympathetic to the African Americans would have had none of the support Atticus had with Heck Tate, Mr. Underwood, just to name a few, the way he did. Perhaps I feel this way because of the novel ¡Ã‚ ¯s overall focus on casting Atticus as morally correct and racial prejudice as something terribly immoral, which were rather new concepts introduced to America during The Civil Rights Movement. The insights into the lives of the African Americans, contrasted with the more flawed white community (with its many not so pleasant members such as the Ewells) in Maycomb, cast a warmer light onto the black community. This representation I think reflects the changing views of the people in the novel ¡Ã‚ ¯s context and the challenge against racial prejudice that was the core of The Civil Rights Movement. In the 1930s there would have been nothing wrong with what today we recognise as  ¡Ã‚ ®racial prejudice ¡Ã‚ ¯, in fact it would have been the other way around with showing prejudice as the morally correct thing to do for a proper white person. Though prejudice to African Americans was still very much an issue throughout the novel ¡Ã‚ ¯s context. This can be seen through the likeness of Tom Robinson ¡Ã‚ ¯s trial and the Mississippi Burning trails. In both these cases I noted that a white person ¡Ã‚ ¯s word has prevailed over a black man ¡Ã‚ ¯s based on the notion that one race is superior than the other.

Thursday, October 24, 2019

Literary Device Compare and Contrast Essay

Compare and Contrast Essay Short stories are often the best way to learn about literary terms and their uses. They’re short, as their name depicts, but contain everything that longer stories would have such as the elements of plot, foreshadowing, themes, tone, and other literary devices. The two short stories, The Parsley Garden by William Saroyan and Sweat by Zora Neale Hudson were both amazing to read and offered a lot of insight to American history. The Parsley Garden told the story of an adolescent, named Al, during the depression, who wanted a hammer he saw in a store. Not having a single penny on him, he decided to steal it, getting caught in the action. Lectured and humiliated by the store manager, Mr. Clemmer, he was let go resulting in him plotting his revenge and a way to get his pride back. Sweat was the story of an African-American wash-woman, Delia. She was constantly abused and was trapped under her tyrannical husband, Sykes who openly cheated on her with another woman. Despite all her hardships with her husband, she worked long and hard using her own sweat and blood to clean clothes. As their relationship got even worse, Sykes decided to pull an ugly prank on Delia that would later backfire on him. Both stories had their similarities and differences, but some stood out more than others. The climaxes of the two stories were similar in that they were both turning points in the story, but also different in the way the story was resolved. In Sweat, the resolution is bitter sweet. â€Å"She saw him on his hands and knees as soon as she reached the door†¦she knew the cold river was creeping up and up to extinguish that eye which must know by now that she knew. Delia was emancipated from the abuse of her husband, but she still pitied him and was upset over the death of her Sykes. The Parsley Garden ends in the more typical, happy fashion. Al finally obtains his hammer while regaining his pride. â€Å"His mother went inside and went to bed, but Al Condraj sat on the bench he had made and smelled the parsley garden and didn’t feel humiliated anymore. But not hing could stop him from hating the two men, even though he knew they hadn’t done anything they shouldn’t have†. The differences in the resolution of the two stories are common as resolutions are much more complicated than the fairytale ending these days. Each has its own unique touch but both resolved the story with the readers in peace. Themes are the morals of the story. Both stories had many themes; some similar, some completely different. In Sweat, some of the themes included oppression, honesty, and determination just to name a few. The Parsley Garden had a few more common ones such as coming of age, honesty, pride, and integrity. The theme that occurred most in Sweat was oppression as it was seen throughout the essay. It was the main theme unlike The Parsley Garden which didn’t have one main theme but many smaller themes spread out evenly. â€Å"She brought love to the union and he had brought a longing after the flesh. Two months after the wedding, he had given her the first brutal beating†. Quotes about Delia getting beat, reoccurred throughout the whole story, compared to The Parsley Garden, where the themes did not reoccur. One aspect of stories in general always intrigues me. The conflicts between the characters or between themselves is what makes up the story, so conflicts are one of the most important literary terms in a story. Both stories contain man vs. man conflict such as when Delia and Sykes fight â€Å"That night he did not return at all, and the next day being Sunday, Delia was glad she did not have to quarrel before she hitched up her pony and drove the four miles to Woodbridge†, and when Al was grabbed by the young man in the store â€Å"but as he did so a man took him firmly by the arm without a word and pushed him to the back of the store into a small office†. Man vs. man is often the most common type of conflict as there is usually a protagonist and an antagonist. The stories differed in that Sweat also had man vs. society, where it went against society, for Sykes to beat Delia as aforementioned with the theme, oppression. Sweat and The Parsley Garden were similar in many ways, but they also had more differences than similarities. This just shows the variety of stories there are out there in the world. Comparing two different stories would yield completely different ways of writing. There are just too many ways of writing, but one can bet one thing for sure. There will always be literary devices in a good story and it will always follow a plot.

Tuesday, October 22, 2019

Immune Response and Hypersensitivity

Axia College Material Appendix C Immune Response and Hypersensitivity Puncture Wound Multimedia Activity After completing the Puncture Wound Multimedia Activity, complete the table below. List the four events of the inflammatory response covered in the activity in the order of occurrence. Rewrite the events in your own words, using vocabulary terms from Ch. 2 of the text. Vascular Events in an Inflammatory Response |Events |Simplified description of event |Professional description of event | |1st |Germs from the nail are introduced below the skin. The skin is broken in some way, in this case by a nail | | | |puncturing the skin. When this occurs, it allows the entry | | | |of pathogens (germs such as bacteria) into the wound. | |2nd |Surrounding cells leak fluid that affects the blood |An immediate local innate response in the infected tissues | | |vessels. is generated by components of the immune system which are | | | |present in those tissues.Those components of the immune | | | | system include macrophages (a type of white blood cell) and | | | |complement proteins (proteins that are involved in the | | | |initial immune response). |3rd |The fluid affecting the surrounding blood vessels causes |Other immune cells (such as neutrophils), leave the | | |the release of other cells into the tissue. |circulation, attracted by the inflammatory mediators | | | |released by the mast cells and enter the wounded area. | |4th |As the wounded part of the body reacts to the germs, |The neutrophil cells attack the pathogens that have entered | | |certain cells destroy these germs. |the wound and begin to kill them.In the meantime, another | | | |specialized immune cell, known as the dendrite cell, carried| | | |parts of the dead pathogen back to the nearby lymphatic | | | |system. | Hypersensitivity Give a brief description and example in your own words for each of the four types of hypersensitivity presented in Ch. 2. Hypersensitivity Matrix Type of Hypersensitivity |Desc ription |Example | |Type I: Allergic/Anaphylactic |Anaphylaxis  is an acute|Anaphylaxis is often triggered by substances that are injected or ingested and | | |multi-system severe |thereby gain access into the blood stream. An explosive reaction involving the skin,| | |type I hypersensitivity|lungs, nose, throat, and gastrointestinal tract can then result. | | |reaction. | |Type II: Cytotoxic/Cytolytic |Cytotoxic are caused by|The reaction of the antibody attachment leads to the activation of complement | | |antibodies, which |proteins (again, encountered earlier). The complement proteins destroy the person's | | |attach to a person's |own blood cells.Type II reactions often occur in incompatible blood transfusions. | | |own blood cells or | | | |tissue cells. | |Type III: Immune Complex |An  immune complex  is |After an  antigen-antibody reaction, the immune complexes can be subject to any of a | | |formed from the |number of responses, including  complement  deposition ,  opsonization,  phagocytosis, or| | |integral binding of an |processing by  proteases. | | |antibody to a soluble | | | |antigen. | |Type IV: Cell-mediated/Delayed|Type IV (cell-mediated)|Cell-mediated immunity is directed primarily at microbes that survive | | |reactions appear 12-72 |in  phagocytes  and  microbes  that infect non-phagocytic cells. | | |hours after exposure to| | | |an allergen. | |

How to Conjugate the Verb Uscire in Italian

How to Conjugate the Verb Uscire in Italian Uscire Can Be Defined As To leaveTo come/go outTo exitTo emergeTo stick outTo protrudeTo be publishedTo appear What to Know About â€Å"Uscire† It’s an irregular third-conjugation verb, so it does not follow the typical -ire verb ending pattern.It’s an intransitive verb, which does not take a direct object.The infinito is â€Å"uscire.†The participio passato is â€Å"uscito.†The gerund form is â€Å"uscendo.†The past gerund form is â€Å"essendo uscito.† Indicativo/Indicative Il presente io esco noi usciamo tu esci voi uscite lui, lei, Lei esce essi, Loro escono Ad esempio: Esco dall’ufficio. - I’m leaving the office.I bambini escono tra mezz’ora. - Kids will be leaving in half an hour. Il passato prossimo io sono uscito/a noi siamo usciti/e tu sei uscito/a voi siete usciti/e lui, lei, Lei uscito/a essi, Loro sono usciti/e Ad esempio: Sei uscito ieri sera? - Did you go out last night?I cornetti sono appena usciti dal forno! - The sweet-buns have just come out of the oven! L’imperfetto io uscivo noi uscivamo tu uscivi voi uscivate lui, lei, Lei usciva essi, Loro uscivano Ad esempio: Usciva dal carcere e ha deciso di cambiare la sua vita. - He got out of prison, and he decided to change his life.Marco e Giulia uscivano spesso insieme. - Marco and Giulia used to go out together often. Il trapassato prossimo io ero uscito/a noi eravamo usciti/e tu eri uscito/a voi eravate usciti/e lui, lei, Lei era uscito/a essi, Loro erano usciti/e Esempi: Ero uscito/a a bere con amici. - I was out drinking  with friends.Eravate davvero usciti con quella pioggia? - Did you really go out with all  that heavy rain? Il passato remoto io uscii noi uscimmo tu uscisti voi usciste lui, lei, Lei usc essi, Loro uscirono Ad esempio: Il suo primo libro uscà ¬ nel 1975.   - Her first book came out in 1975.Senza dire niente Silvia uscà ¬ dalla stanza. - Without saying a word Silvia left the room. Il trapassato remoto io fui uscito/a noi fummo usciti/e tu fosti uscito/a voi foste usciti/e lui, lei, Lei fu uscito/a essi, Loro furono usciti/e TIP: This tense is rarely used, so don’t worry too much about mastering it. You’ll find it in very sophisticated writing. Il futuro semplice io uscir noi usciremo tu uscirai voi uscirete lui, lei, Lei uscir essi, Loro usciranno Ad esempio: Uscir quando ha finito il suo compito. - She will go out when she has finished her homework.Domani usciremo con mamma e pap! - Tomorrow we will go out with mom and dad! Il futuro anteriore io sar uscito/a noi saremo usciti/e tu sarai uscito/a voi sarete usciti/e lui, lei, Lei sar uscito/a essi, Loro saranno usciti/e Ad esempio: Ieri sera saranno usciti insieme. - They must have gone out together last night.Non so dove sia Giulia, sar uscita e non me ne sono accorta. - I don’t know where Giulia is, she must have gone out and I didnt  realize. Congiuntivo/Subjunctive Il presente che io esca che noi usciamo che tu esca che voi usciate che lui, lei, Lei esca che essi, Loro escano Ad esempio: È fondamentale che tu esca da qui in questo momento. - It’s important that you get out of here now.Speriamo che escano i miei numeri fortunati alla lotteria. - Let’s hope my lucky numbers came out in the lottery. Il passato io sia uscito/a noi siamo usciti/e tu sia uscito/a voi siate usciti/e lui, lei, Lei sia uscito/a essi, Loro siano usciti/e Ad esempio: Penso che il loro primo disco sia gi uscito. - I think their first album already came out. L’imperfetto io uscissi noi uscissimo tu uscissi voi usciste lui, lei, Lei uscisse essi, Loro uscissero Ad esempio: Cosa faremmo se stasera io uscissi con voi? - What would we do if I went out with you all tonight? Il trapassato prossimo io fossi uscito/a noi fossimo usciti/e tu fossi uscito/a voi foste usciti/e lui, lei, Lei fosse uscito/a essi, Loro fossero usciti/e Ad esempio: Vorrei che tu fossi uscito/a con me in discoteca ieri sera. - I wish you could have gone out with me to the club last night.Pensavo che i risultati fossero gi usciti! -   I think the results have already come out! Condizionale/Conditional Il presente io uscirei noi usciremmo tu usciresti voi uscireste lui, lei, Lei uscirebbe essi, Loro uscirebbero Ad esempio: Uscirei con voi, ma sto male. - I would go out with you all, but I’m sick.Se fosse domenica usciremmo con voi. - If it was sunday we would go out with you. Il passato io sarei uscito/a noi saremmo usciti/e tu saresti uscito/a voi sareste usciti/e lui, lei, Lei sarebbe uscito/a essi, Loro sarebbero usciti/e Ad esempio: Avevo promesso che oggi sarei uscito dall’ufficio presto, perà ² gi sono le ventuno. - I promised that today I would have left the office early, but now it’s already 9 PM.

Sunday, October 20, 2019

How the printing press effected the media world essays

How the printing press effected the media world essays If it were not for Johan Gutenbergs invention of the printing press, literacy would not be where it is today. That is way the invention of print is considered a communications revolution. One of the aspects that will be discussed is how society pre-existed before the printing press and how information was collected and distributed through out the communities. Literature was becoming a lot more popular so the world was ready for an invention that would help this need for more literary material. An important aspect is the invention of john Gutenbergs printing press and what progression happened after it and what impact it had on Europe and the world. Before paper and print were invented, oral communication was the only way information was gathered and distributed. Everything from tax to politics and legal matters were discussed orally. This type of communication was face to face and only people present could hear the message. Even though this bound the community together, it did not allow the community to grow and there were no ways of storing information except in the brain, also if the community moved on or perished so did their historical records and knowledge. But not everybody was illiterate. The local priests were educated and could be employed for literal services like the writing of wills. The church was the only manufacturer of books like illuminated manuscripts (500-1500c), scrolls which were practical for reciting literacy text and codex which were reference books, made from parchment or animal skin. These were rare as they took a long time to produce and emperors had them as status symbols (8th-11th c) even if they could not read them, they conferred an image of intelligence and power. Literacy was slowly evolving but books were still expensive and took a long time to produce. A monk could spend a year or more to reproduce one bible. In 105AD the Chinese had made paper and block printing was brought to the...

Saturday, October 19, 2019

Organization Development and Change Essay Example | Topics and Well Written Essays - 750 words - 6

Organization Development and Change - Essay Example This is because the effects of change are understood hence organizational change is supported by the same people who change affects within the organization. This involvement of the workforce in the creation of change within the organization leads to the acceptance of change among the stakeholders of the organization. This involvement leads to synergy, which enhances motivation and productivity in an organization. These are the benefits that accrue from full implementation of change in an organization. Inclusiveness in strategic change creation and implementation serves as a cheap source of ideas because the contribution of many people is considered before a decision is made. This initiative also provides networking to the organization which enhances the implementation of the change within an enterprise. This owes to the fact that networking helps in acquisition of crucial information with regard to decision making. According to Cummings and Worley (2009), strategic change in an organization determines the going concern of an organization. Participation in the change process is favored in the republics which practice democracy in governance as opposed to one-man rule scenario in some countries. Organizational development and change are inevitable for the advancement of any organization. This is because of the flaws associated with the status quo position of an organization structure especially a bureaucratic organizational structure. There is a need for the organization’s management to communicate the re-structural change and the goals of the change, to the workforce in order for the employees to embrace the change. There are benefits which accrue to people when they take part in a number of activities pertaining to change. These benefits include the improvement in the quality of decisions made with regard to the change variables. It also highlights timely responses required when the change takes effect. According to Lines (2011), the effect of

Friday, October 18, 2019

Summary and Critical Response Article Example | Topics and Well Written Essays - 500 words

Summary and Critical Response - Article Example According to the author, this independent nature is not awful but it reduces the overall qualitative development of the students by hindering their academic work. The students will not be able to conduct their study according to the academic schedule. Moreover, the students will not be eligible for a better job in future due to the part time job and lack of educational development. Thus, it is eminent from the article that the part time jobs at every instance affect the educational field of the students (Rokicka, 2014; Etzioni, n.d.). The author Amitai Etzioni has argued over the facts that the jobs at fast food organizations affect the quality of the students. The reason behind this is that the part time jobs do not provide any skilled training or any sort of career building opportunities. The author Etzioni has attempted to drag the attention of the working students and their guardians in order to demonstrate the drawbacks of part time jobs in such organizations. Moreover there are some other contradictory arguments, which reflect the importance of such part time jobs in these organizations. According to Wang, Kong, Shan & Vong (2010), the employees working in the restaurants acquire specific knowledge regarding preparation of food and maintenance of machines, and cash registers among others. This knowledge that the employees are attaining is of no use for them. However, Knuth (2011) contradictory argued that the learning of cash registers and operating these do not reflect any significant skill development. Mo reover, the learning of such aspects does not provide any better opportunity for them in building their career (Knuth, 2011). The contradictory arguments by Wang, Kong, Shan & Vong (2010) also suggests that the students working in part time jobs are of considerable number. The reason behind this is that the employees of part time jobs are

Concepts on Strategic and Quality Management Dissertation

Concepts on Strategic and Quality Management - Dissertation Example Ireland (1991) states that quality definitions have focused on the satisfaction of customers instead of the efficiency brought about by systems to firms. The necessities of the customers serve as the building blocks that guides firm in creating quality systems. In the situation where the Company involved, the needs of the customers greatly affected the decision to change the inventory system. The company, however, also considered other aspects in devising the proposed scheme. The balance between the needs of the customers and the goals of the Company is essential. There are some concrete steps that need to be undertaken to ensure that quality is achieved. Kerzner (2003) provided a comparison of experts’ views on guides to meet quality standards. The Company has to instil awareness in the organisation that changes need to be done. Goals have to be set and proper resources have to be pooled to realise these goals. The Company has to ensure that progress of the project is recorded and ample adjustments are made during the course of the implementation. Most important, the Company needs to sustain all the positive effects created by the inventory system and channel these to other weak points. ... Project managers usually divide the process into stages so that projects are managed with efficiency. Gray and Larson (2003) stated that the project life cycle gives a framework that identifies the key issues and sources of conflicts. As Evans and Lindsay (1993) suggested, planning is a critical stage of quality management. The first stage of the cycle relates to the conception of projects. The management sets lofty goals that have to be achieved given a period of time. The goals are in line with the inventory targets of the company. After the management has decided for the conceptual guidelines, the next manoeuvre is to incorporate the ideas to all entities in the organisation. The final step in the first stage allows the management to delegate individuals who will be tasked to manage and maintain the project. Quality personnel are selected to ensure that goals are met. Hormozi et al (2000) explained that the development of the project has to produce a master plan. The master plan w ill detail the manner in which the available resources will be used to make the project succeed. The primary attributes that has to be promoted in this stage are aggressiveness and comprehensiveness. The master plan illustrates the budget and the schedule. Budgeting is important to prevent constraints once the project starts the realisation phase. The schedule reveals the number of days required for the project to be finished and eventually be incorporated with the current production process. The execution covers the performance of the project that requires control (Evans and Lindsay, 1993). Regular monitoring and measuring of performance is advantageous for the project. The control phase also ascertains areas where improvements are needed and the failures of the project. The

Battered women Research Paper Example | Topics and Well Written Essays - 1250 words

Battered women - Research Paper Example A report published in the year 2008 showed that the number of women who suffered injuries at the hands of their intimate partners was 2 million ( The Facts). These statistics show how serious and life threatening the problem of domestic violence is for a woman. Steps like implementing laws against violence, victim support programs, teaching the youngsters the wrongness of violence etc., have been taken to reduce the domestic violence ( The Facts). However, many a times, even after providing social and legal support, a woman chooses not to report violence against her. This is because the women who are battered are victim not only of the violence at the hands of their intimate partners, but also are victims of the psychological pattern, social structure, emotional attachment to the family and the behavior pattern of learned helplessness that they are subconsciously trained to follow. The solution to the domestic violence lies not only in the financial independence of women but also in their emotional and psychological independence. The question as to why a woman stays in a violent relationship is not easy to answer. There are many psychological aspects, both conscious and subconscious, that make a woman to tolerate the violence at the hands of a husband or a boyfriend. When Bandura (1973) studied the history of the women who were the victim of the domestic violence, he found that these women had experienced aggressive behavior and responses to aggressive behavior in their childhood (Walker 2000, p.104). The childhood experience had ‘trained’ the women suffering from domestic violence to psychologically and emotionally cope with the violence they were suffering. Also, Walker (1979) found that what made

Thursday, October 17, 2019

To what extent has economic development brought about changes to the Essay

To what extent has economic development brought about changes to the position of women in South East Asia discuss with examples from one or two South East Asia - Essay Example Recent news broadcasts herald the advancement of women in Vietnam and on the surface things look very positive: in State agencies, women hold 20% of managerial positions and they account for almost 26% in the National Assembly; the country has bred a group of self motivated female industrialists; their intensified role in society is also replicated in their involvement in science and technology, culture and sports; the number of female technical doctors and professors has increased in recent years, and female volleyball players and football players have bought fame to the nation with their excellent triumphs. (VietNamNet, 2007) While it mat be true that Vietnam leads the Asia and the Pacific region in key aspects of gender equality and within the Asia-Pacific region, is second only to New Zealand, in terms of female representation in the legislature, (VietNamNet, 2007) this equality is not as clear cut as it may seem. A report by the Asian Development Bank in 2007 says that with one of the highest rates of economic participation of women in the world, Vietnam is one of the more advanced countries in respect to gender equality. They tell us that there is little difference between genders in school enrollment rates, and that literacy is high for everyone, and the gender gap is decreasing."Equality between men and women is enshrined in the Constitution of Vietnam," (Ban De In, 2006) and according to the 1996 Constitution and related laws, women and men have equal rights with respect to economic opportunities, marriage and family matters, political input, community management, and ownership of property including land. The 2000 Law on Marriage and Family specifies that certificates for the use of common land by a household must list the names of both the husband and wife, thus signifying shared ownership. However, the prior 1993 Land Law, does not mention dual ownership, and in most cases, these certi ficates are registered in the name of the husband or male head of the household. This in turn, makes it more difficult for women to obtain credit for business opportunities. Although women, by law have equal rights in terms of property, they are often hindered by social factors, which intersect and conflict with legislation and enforcement of these equal rights is usually left to the judgment of local officials, who are usually male and vie in favor of the male member of the household. (Fahey et al, 2002) In 2002, the Vietnamese government approved the National Strategy for the Advancement of Women to 2010. "The strategy aimed to improve the material and spiritual lives of women, and create good conditions to effectively implement fundamental rights and promote the role, of women in political, economic, cultural and social fields." (Vietnam Embassy USA, 2006) Although to date, many of the targets set by the strategy for women's advancement such as, providing jobs, abolishing illiteracy, reducing the mortality rate related to pregnancy and birth, and increasing the rate of female representatives in the people's councils at all levels, have been

Terrance McNallys Its Only a Play Essay Example | Topics and Well Written Essays - 1250 words

Terrance McNallys Its Only a Play - Essay Example Terrance McNally’s It’s Only a Play There was a moment when a line in the first act was given by Noah Mittman, playing Gus, that seemed to break the realism within the work. Much of his performance, while good, seemed to be a bit stalled in places. The character played by J. Nick Dickart, by the name of James, picked up the pace when it seemed to have fallen slightly short. The interactions between these two characters seemed to have some pacing difficulties which created a problem for me. I thoroughly enjoyed the character of the producer, Julia, played by Ilasiea Gray. While imperfect the part seemed to reflect the imperfections of the character so that those moments that might not have been as believable pass for character flaws. The interpretation of the role made it seem natural to the theater, even in its naivetà ©, a position in which she ‘interprets’ theatrical phrases to members of the play as if they would not understand them. In some ways, it was easier to relate to her as she was somewhat on the outside of the theater looking in when she related to the other characters, which placed her in a similar position as the audience.As some of the humor was above the education of the audience, so too was the situation above her experience, thus making her more easily relatable. She was a space between the audience and the action of the other characters which eased the tension that can exist between ’theater people’ and those who only atte nd or help from the outside. While she was a producer, she was still not fully immersed or as experienced. 4. Acting is more than just a collection of individual performances. The entire company needs to work together as a unit (this is sometimes called ensemble): each actor must not only perform his or her own role but also support the other performers. Discuss how the performers re ­lated or failed to relate to one another. Did they listen to each other and respond? Did any actor seem to be "showing off' and ignoring the others? Answer Question 4 The one aspect of the play that seemed very successful was that the characters seemed to be in concert with one another and they were working together to make all of the scenes work. The actors were engaged with one another, each scene seeming to flow naturally with very few of those moments when an audience member will think about that fact that they were attending a play. The humor was designed with the concept of exaggeration and exp loitation of the

Wednesday, October 16, 2019

Battered women Research Paper Example | Topics and Well Written Essays - 1250 words

Battered women - Research Paper Example A report published in the year 2008 showed that the number of women who suffered injuries at the hands of their intimate partners was 2 million ( The Facts). These statistics show how serious and life threatening the problem of domestic violence is for a woman. Steps like implementing laws against violence, victim support programs, teaching the youngsters the wrongness of violence etc., have been taken to reduce the domestic violence ( The Facts). However, many a times, even after providing social and legal support, a woman chooses not to report violence against her. This is because the women who are battered are victim not only of the violence at the hands of their intimate partners, but also are victims of the psychological pattern, social structure, emotional attachment to the family and the behavior pattern of learned helplessness that they are subconsciously trained to follow. The solution to the domestic violence lies not only in the financial independence of women but also in their emotional and psychological independence. The question as to why a woman stays in a violent relationship is not easy to answer. There are many psychological aspects, both conscious and subconscious, that make a woman to tolerate the violence at the hands of a husband or a boyfriend. When Bandura (1973) studied the history of the women who were the victim of the domestic violence, he found that these women had experienced aggressive behavior and responses to aggressive behavior in their childhood (Walker 2000, p.104). The childhood experience had ‘trained’ the women suffering from domestic violence to psychologically and emotionally cope with the violence they were suffering. Also, Walker (1979) found that what made

Tuesday, October 15, 2019

Terrance McNallys Its Only a Play Essay Example | Topics and Well Written Essays - 1250 words

Terrance McNallys Its Only a Play - Essay Example Terrance McNally’s It’s Only a Play There was a moment when a line in the first act was given by Noah Mittman, playing Gus, that seemed to break the realism within the work. Much of his performance, while good, seemed to be a bit stalled in places. The character played by J. Nick Dickart, by the name of James, picked up the pace when it seemed to have fallen slightly short. The interactions between these two characters seemed to have some pacing difficulties which created a problem for me. I thoroughly enjoyed the character of the producer, Julia, played by Ilasiea Gray. While imperfect the part seemed to reflect the imperfections of the character so that those moments that might not have been as believable pass for character flaws. The interpretation of the role made it seem natural to the theater, even in its naivetà ©, a position in which she ‘interprets’ theatrical phrases to members of the play as if they would not understand them. In some ways, it was easier to relate to her as she was somewhat on the outside of the theater looking in when she related to the other characters, which placed her in a similar position as the audience.As some of the humor was above the education of the audience, so too was the situation above her experience, thus making her more easily relatable. She was a space between the audience and the action of the other characters which eased the tension that can exist between ’theater people’ and those who only atte nd or help from the outside. While she was a producer, she was still not fully immersed or as experienced. 4. Acting is more than just a collection of individual performances. The entire company needs to work together as a unit (this is sometimes called ensemble): each actor must not only perform his or her own role but also support the other performers. Discuss how the performers re ­lated or failed to relate to one another. Did they listen to each other and respond? Did any actor seem to be "showing off' and ignoring the others? Answer Question 4 The one aspect of the play that seemed very successful was that the characters seemed to be in concert with one another and they were working together to make all of the scenes work. The actors were engaged with one another, each scene seeming to flow naturally with very few of those moments when an audience member will think about that fact that they were attending a play. The humor was designed with the concept of exaggeration and exp loitation of the

Athenian audience Essay Example for Free

Athenian audience Essay Athenian audience with the references made to Athenian hypocrisy and the challenges and questions he raised on some of the moral issues of the time and the questions that he asked in his plays were sometimes ill received such as the role of women etc. Despite this, Euripides did win the tragedy prize with Hippolytus and is revered as a great playwright in present day drama. From some of the female characters that Euripides develops in his plays, one could assume that Euripides was a misogynist. However, it is wrong to say that all of his female characters are wicked and evil; Euripides has created some wonderful and interesting female characters as well as the wicked ones. Perhaps The Assembly Women actually had wrong motive for their revolt! In Alcestis, the title character, the wife of Admetus (the King of Pherae) sacrifices herself for her husbands life. A most noble act and Euripides portrays her character, as the model of what a Greek wife should be: completely and utterly devoted to their husband to the extent of dieing for the man that supports them. The Greek audience and modern alike will like Alcestis, as she is a sweet natured and noble woman. She most certainly would have won the hearts of the Greek audience. As she is such a noble character and the measure of her kindness toward her husband is so great, Euripides had to bring her back. So the heroic Heracles wends his way to Hades kingdom and brings her back. In Electra, again the title role, at the beginning of the play, comes across as a very sorrowful young woman. She has cut her hair out of mourning for her murdered father, Agamemnon. He was murdered by her mother, Clytemnestra, as he had to sacrifice their daughter and then brought home a concubine (Cassandra). When Agamemnon did get home, Clytemnestra had fallen in love with Aegisthus. Therefore, so far in the play, Electra comes across as a woman very much devoted to her father and hates her mother for murdering him. So far so justified. However, when she happens to meet her brother, Orestes, she convinces him to kill their mother. At this point she comes across as a very wicked conniving young lady. It seems as though she had been waiting for Orestes return to make him do this. When Orestes has doubts over killing Clytemnestra, she bullies him into doing it. She knew the result she wanted to get and she got it. Clytemnestra, if you havent read or seen Aeschylus Agamemnon, comes across as a less conniving woman than her daughter. She comes across as a very powerful and domineering woman. She arrives in the play in a chariot and commands the slaves to help her down. She is very aware of her class and position and will not back down from her decision to murder Agamemnon and regards it as the right thing to do. In this sense we must respect her for sticking by her decision and understand that Agamemnon did kill their daughter and come back with a concubine. In a very slight way, she is justified. Therefore, Euripides has created in Electra a very complicated character. We as the audience or readers assume that she had been planning her revenge on her mother for some time and was just waiting for Orestes return to enact it. Before this point however, we can sympathise with her loss of a father and the pain that she must be going thorough to have the knowledge that it was her mother who murdered him. Clytemnestra, from this play, comes across a woman who sticks by her decision and who in speech ha the capacity to justify and handle herself well. Euripides has created two complicated female characters and in his portrayal of them has shown no signs of his rumoured misogyny. Euripides creates one of the greatest roles for any actress to play in Hecabe. The title role is not the aforementioned feet of extraordinary characterisation. However, Hecabe as a character is very interesting. The audience comes away not knowing what to think of her. She begins the play as a woman who has endured such a lot of pain as the former Queen of the now sacked citadel of Troy. She has reached the limit of endurance and collapses in sorrow. She has lost her entire family to a war over one woman, the infamous Helen. At the end of the play, however, she literally snaps from a grief stricken widow to a raving savage. She has Polymestor blinded and enjoys the gruesome description of the event and the sounds. According to legend, Hecabe turns into a dog due to her extreme torment that results into madness. This is what Polymestor tells her at the end of the play when his blind by her decision. The character this section opened with by praising is Polyxena. She is Hecabes daughter and Euripides develops her character beautifully. Odysseus informs Hecabe that her daughter must be sacrificed to the deceased Achilles. Without shedding a tear, Polyxena, heroically goes with Odysseus to accept her fate. As she is taken to the tomb of Peleus (Achilles father), Greek soldiers hold her and Achilles son gets ready with his sword to kill or to sacrifice her. She asks not to be held and the soldiers are taken away. She then tears her clothes off to the wait and bravely speaks and awaits the sword to be thrust into her chest. Euripides in this play has created two memorable female characters. The brave and heroic Polyxena and the complicated Hecabe. Again, no sign of any misogyny on Euripides part here, in fact the opposite in Polyxenas case. Creating a heroic woman is no mean feet in Ancient Greece and her character must have been received well as she is incredibly strong of character and of heart. Another great female character in Euripidean literature is Heracles wife Megara in the play Heracles. The play tells of how Hera (Queen of the gods, married to Zeus, whos father to Heracles) turned Heracles mad and in his madness killed his three sons and his wife Megara. This then lead him to go to the Delphic Oracle that told him to be a slave to Eurytheus thus leading to his infamous twelve labours. Anyhow, Megara, at the beginning of the play, thinks that she is a widow and is a vulnerable woman who has to be strong for her three young sons. However, Heracles actually is not dead and comes home to them in Thebes. He is then turned mad by Hera and shoots two of his sons with arrows in his madness. Megara takes the last son and locks herself in room but Heracles breaks in and shoots them both with one arrow.

Monday, October 14, 2019

The Dividend Policy at Linear Technology

The Dividend Policy at Linear Technology Linear Technoloy(LT) is a company founded in 1981 by Robert Swanson. Its area of actvity is development, production and marketing for semiconductors used in various electronic applications used by the communication industry to the automotive industry. It mainly focuses on the analog segment within the integrated circuits industry and, by market capitalization, it is the seventh-largest company listed on the Philadelphia Stock Exchange Semiconductor Index (SOX). Regarding its customer portfolio, the communication industry accounted for 33% of Linears sales, computers 27%, automotive 6% and the rest of 34% was divided by the rest of the industries. Linear Technologys Payout Policy Linears payout policy is comprised out of two elements: dividend payout and stock repurchase. In general companies decide to payout dividends after transitioning from a high growth stage to mature and stable stage. (Grullon Michaely, 2004). Linear started paying dividends in 1992. This decision was based on good expectations regarding the analog circuits market and the fact that Linear had a top position in the industry. Also the CFO of the company points out that, since the IPO, the company had positive cash flows. Thus paying out dividends would signal a strong position in a risky market and the transition to a more mature state of the company. As observed by some investors the technological companies had been just reaching that stage when paying out dividends was possible. The initial price for a share was set at US$0.05. This amounted for 15% of the total earnings of the company in the fiscal year of 1994. The relative low level was based on two principles. The first principle w as that dividend payout demands a certain respect from investors so in order to send the right signal into the market and attract new investors, the company had to pay dividends. This in turn would mean a thoughtful payout ratio that the company could sustain over time thus leading to the second principle. This states that a low level for dividends would better suit the company in the event of less than expected earnings. In this case the company would not have to cut down or even stop paying dividends. Thus a bad signal to the investors is avoided. Since 1992, the payout ratio has been growing steadily, getting close to 25% in 2003. Considering that 2002 meant a decline in sales and earnings, the company board and its management is debating on whether to increase the ratio or to keep it into accordance with company earnings. The CFO of Linear is confident that the business prospects and the cost structure can support an increase and he expects that this increase will send a good si gnal to investors. From the repurchase point of view, as stated by Paul Coghlan, CFO of Linear, one primary reason that we buy back the stock is to offset the exercise of employee stock options. Another reason was also the market conditions. The low interest rates offered by Linears high-grade security investments encouraged the company to use the cash-at-hand to buy back shares thus making a better use of the cash balance. A third reason was that, despite a large cash balance the company did not have any acquisition plans. The company repurchased shares sporadically between 1993 and 2001, and quarterly since then but again without any obvious pattern. Considering both elements, the companys mixed payout policy attends to all shareholder requirements by increasing the level of dividends quarterly and by managing in a conservative way a large cash balance. What are Linears financing needs? LTs income statement and revenue growth seems to be relatively stable over the past 11 years (1992-2002) with the exception of the boom during the peak(2000-2001) of the IT bubble and the bust after the burst of this bubble(2002). However even in economic downfall LT still managed to obtain a positive net income and net cash flow. This is due to LTs limited costs set up and relatively low financing needs. It is stated that in the semiconductor industry, research development investments, capital investment in new fabrication facilities, and retaining top engineers are of crucial importance. LT focuses on analog semiconductors and as such has stable and modest research and development costs. The analog fabrication facilities investments are more durable and account to a relative investment of approximately 20million per year. Finally LT uses a bonus structure for its executive compensation, keeping salary expenses lower when sales revenues decline. Additionally LT expresses little des ire in excessive investments, cash is handled very conservative with investment strategy in predominantly short-term debt securities, however LT is looking at potential business opportunities in the Asian markets, , if LT was to proceed with this plan this would increase its financing needs substantially. All in all resulting in a relatively low financing need for LT with regards to internal factors. With regards to external factors LT could endure financing needs resulting from market risks and the unclear effect of the Iraq war on the American economy, this results in the need for LT to hold a higher cash reserve. We will address this issue more in depth in the subsequent part. Should Linear return cash to its shareholders? Some shareholders have recently expressed the desire for LT to return its cash, however this desire is not necessarily shared by all shareholders. Theoretically returning Cash to the shareholders can reduce agency conflicts because it reduces cash in hands of the firm which can be invested in bad projects. It also reduces the costs of underinvestment if LT decides not to invest this cash it holds. The agency conflict seems relatively small considering LTs investment behavior and thus would be of relatively little importance when considering if LT should return cash to its shareholders. However asymmetric information exists and shareholders are unaware whether or not LT will remand its current investment policy. Additionally returning cash to the shareholders can give positive signals to the market about the future prospects of the firm. This could be of great potential importance considering the industry in which LT operates and the recent economic downturn this industry experienced. Conversely, if LT was to hold on to the cash this would preserve their liquidity levels which would both allow the firm to invest in positive NPV projects without entering the capital market, and additionally create a cushion against potential economic or financial distress. Regarding the financial cushion aspect of holding cash, if LT returns cash to its shareholders it should not return the full 1,5billion, but considering the current economic situation should preserve at least $200mto cover unexpected expenses. In the past LT has not shown great interest in investing other than in short-term securities, however, LT has been looking for business opportunities in the Asian market, holding cash in the firm increases the firms potential to respond to such an opportunity when it comes along. Bearing in mind LTs sales earnings, cash flows, and investment practices, it becomes evident that current dividend payments are not at the level they could potentially be. As observed by Janus Ca pital, the largest single holder of LT stock, current dividend payments are merely a token relative to the level of cash LT holds, therefore it would be possible for LT to increase its current dividend level. The problem with dividend payments its inflexibility, once LT decides to increase its dividend payments it will be hard for them to return this to its current level at a later stage. Currently LTs dividend payments is at a competitive level with respect to its peers on the Philadelphia Stock Exchange Semiconductor Index (SOX) and other technology companies. As stated in the case even a penny increase in dividend level will move the payout ratio to a level above most other technology levels. This brings us to the question why a company would decide to payout dividends. Commonly corporations at a mature stage without many growth opportunities and a stable positive cash flow. As discussed earlier LT can be identified as a relatively stable and mature company with stable costs and relatively stable growth. However as a technology company, LT is sensitive to the market, which has become evident in its 2000-2003 results. During the IT bubble LT performed exceptionally well, but after the burst sales dropped with 47% relative to the year prior. However, looking at the figures of 2003 we can see that LTs sales recover quite quickly, ending 2003 with approximately $602m in sales, which is in line with 5 year sale average ($636m). It could therefore both be argued that growth is not stable for LT and thus dividend payments are relatively risky for LT with regards to market reaction when dividend payments are reduced. However, growth has always (with the exception of 2002) been positive and LT could thus be deemed relatively safe. (Graham et al, 2005) Usually repurchases are used when the firm holds an excess in cash e.g. to reduce agency conflicts and underinvestment. Dividend increases relate more to an excess in free cash flow. In the case of LT, the firm holds a n excess in cash but due to economic situation over the past two years does not have a relative high free cash flow. In this respect LT is looking to reduce excess cash, thus cash returns via repurchase would be more in line with firm performance. When considering how to return cash to the shareholder tax matters but in a second-order manner (Brav et al (2005)). This is due to the fact that value return to shareholders is financed after tax payments and thus the manner of returning value to shareholders with respect to taxes affects predominantly shareholders. Shareholders, under current tax system, pay relatively more tax on dividend than on repurchases. However, the tax argument is only applicable for those shareholders who are indifferent towards holding or selling their share, long term shareholders would prefer dividend payments regardless of tax difference. If new tax proposal would pass there would be no tax difference with capital gain for shareholders thus with regard to ta xes they would most likely prefer dividend payments. However repurchases reduce the number of outstanding shares and thus increase EPS and share prices. Even though share prices will increase with dividend increases also, when dividend payments are increased and the firm at a later stage, cannot pay these dividends or reduces them this results in a decrease of share price, where a non-continuum of repurchasing practices has no effect on later share prices. Additionally if the firm does not want to reduce or cancel dividend payments for this reason they might decide to split the stock, increasing the number of outstanding shares and thus decreasing the EPS. Therefore both shareholders and firms should only prefer an increase in dividend payments over repurchases when cash flows and growth rates are stable for the firm with little or no expected future change, even when tax rates are set to be equal. With regard to the option compensation for executives, the repurchases would induce m ore value than would dividend increase, which should be considered in an industry where there is talent competition. Concluding, LT should return some of its cash to its shareholder, however, not all cash should be returned, and preferably not through an increase of common dividend payouts. This will be further discussed in section 5 of this report. What are the tax consequences of keeping cash inside the firm? In the event that LT would decide to keep the cash within the company instead of paying out to its shareholders LT will endure certain costs with respect to taxes. The benefit of keeping the cash in the company means that LT will have the liquidity needed to enter in NPV projects when opportunities arise without needing to access the capital market for costly funding. However, with respect to taxes, not entering the capital market for funding can be deemed inefficient due to the tax deductibility of debt and interest payments on levering. At a 30% corporate tax rate the marginal value of a dollar is thus lower for a firm not using debt financing (Martà ­nez-Sola et al (2009)). This can be identified as an opportunity costs of keeping cash within the company instead of returning this to its shareholders. Being identified as a cost of returning cash to the shareholder and a benefit of keeping the cash in the company, liquidity allows LT to invest and thus potentially earn interest on the cash. LT maintains a conservative investment strategy and predominantly invests in short-term debt securities. This, as identified in the case, in recent years resulted in a low interest return to LT, encouraging LT to return more cash to its shareholders. However, considering that only capital gains are taxed, this at any positive interest rate assumed the gain achieved by interest payment will be higher than the reduction in tax rates. Taxes can only be effectively reduced by increasing the payments to employees or research development with the use of sales revenue (thus reducing free cash flow), not existing cash, or by the use of debt financing. If Linear were to pay out its entire cash balance as a special dividend, what would be the effect on value? One significant target of the dividend distribution is to show investors that Linear has a good position on the market, and to buy shares from Linear Technology is not comparable with the risk which is usually associated with the purchase of shares from technology companies. With a dividend Linear Technology wants to reach investors that have income goals besides of growth goals. In case of a dividend distribution demand for shares will rise. If investors know that a dividend from a certain amount will be paid, the share price increases by the dividend that will be paid. In case of a share price of $30,87 and a dividend of $5,01 the new share price will rise to $35,88. As the dividend will be paid at a certain point of time investors are ready to pay the amount of the dividend additionally to the share price of $30,87, as the dividend will be paid out. Depending on the time until the dividend is paid not the whole amount of dividend is added to the share price. If there is still a certain period of time until the dividend will be paid, only the net present value of the dividend, which is announced will be added to the share price. It also can be said that the closer the payment of the dividend gets, the more the amount of the total dividend payment is added to the normal share price. That also means that consequently the market value of equity also will rise. At the day ex-dividend the share price will drop below the level of the pre-announcement day, as the dividend as driver of the rising demand had been paid. The additional value of $5,01 that were relied to the dividend is not part of the share value any more. The dividend, as part of the equity, is paid to the shareholder. The EBT will go down now as interest income decreases. Because of the decreasing interest income also taxes are declining. As the reduction on interest income is higher this does not play such a decisive role. Special Dividend Repurchase Nr of outstanding shares 312,4 312,4 Share value 30,87 30,87 Market Value 9643,788 9643,788 Special Dividend Paid 5,01 New Shareprice 1 35,88 Nr of Shares repurchased 50,70 New outstanding shares 261,70 Loss of interest income 46,96 EBT 273,44 Earnings 189,49 Earnings Per share $ 0,72 Figure Effects of repurchase or special dividend What if Linear repurchases shares instead?. The repurchase of shares is another option besides of a dividend distribution. Advantages of repurchasing shares is the reduction of systematic risk and cost of capital. Information and rumours about repurchase of shares will increase the demand before the repurchase date and therefore makes the repurchase more expensive. Usually a premium of one until ten per cent has to be calculated. To calculate the number of new shares that can be purchased the cash balance has to be divided by the new share price. To calculate the new market value the new share price with the total number of shares has to be multiplied. Therefore also the earnings per share would increase. On the other hand it should be taken in mind that normally the increase in share price is not from a long-term perspective. Primarily firms in low concentrated industries can benefit from an increase of the share price from a long-term perspective and can outperform the market. In more concentrated industries there will be no statistically significant change. In general the repurchase of shares has a negative effect on the share prices of competitors. Therefore often competitors mimic the behaviour and also do a repurchase of shares. (Massa, Rehman, Vermaelen, 2007) In the study of Grullon and Michaely it is shown that within a 6-year period the repurchasing firm benefits from an essential reduction in systematic risk in comparison to non-repurchasing firms. A negative effect of repurchasing are decreasing investment opportunities. This does not play a decisive role in this case, as in both options there would be a reduction of cash flow. Also in case of stock options for employees the repurchase of shares is an efficient possibility to control the market. To repurchase shares at the point of time when employees sell their rights of stock options makes it neutral from a trading perspective. As Mr. Coghlan stated that Linear Technology wants to offset the exercise of employees stock options with the repurchase of stocks. From the company and management side flexibility is the main advantage for repurchasing in comparison to dividend distribution (Brav, Graham, Harvey, Michaely, 2005). The flexibility can be used to increase repurchases when stock prices are low. Also the higher tax burden in case of dividends can be taken as an argument for repurchasing instead of paying dividends, although in the study it is shown that taxes do not play a primary role and that repurchasing does not change the investors clientele. This point which is also taken as an argument for paying out a dividend by Linear Technology can therefore be de-emphasised. Why do firms pay dividends? When a firm generates free cash flows it has to decide what to do with them. It can reinvest in positive NPV projects, if they are present, and increase the value of the firm. This practice is very common for young firms that pursue rapid growth and sometimes invest 100 per cent of their cash in this way. More mature firms, that operate in more mature market, however, do not always have these opportunities and hold more cash than there are potential positive NPV-projects to exploit. Such a firm with excess cash can either retain it in reserves or pay it out to shareholders. Two payout choices are: repurchases and dividends. When firms pay-out they have several reasons for it. Although not entirely proven, dividends are a possible tool to signal good news to the market and to prevent managers from exploiting free cash flows for their own benefits. The most important reason why dividends are paid, however, is the firms dividend history. Furthermore some firms issue dividends to get acc ess to a new set of investors. Each of these reasons will be discussed next. With asymmetric information in the market, meaning that mangers hold better information regarding future prospects of the firm than investors, payout decisions may signal information. The common practice for dividend paying firms is to smooth dividends and only cut them under extreme cases, which are addressed later, will cause the market to also believe the company is not able to rebound its earnings in the near term. It also implies that once the company increases dividends it signals that the company is able to afford the higher dividend with increased earnings (Berk DeMarzo, 2007). Although most managers no longer see payout policy as a tool to separate its company from competitors, it could be a reason for some to initiate dividends (Brav, Graham, Campbell, Harvey, and Michely, 2005). Especially when dividends are already part of historical business practice in these firms, and as management is very reluctant to cut dividends they will keep them in place. Another reason for man agers to pay out dividends is its ability to prevent agency conflicts as the otherwise free cash flow is no longer in the hands of management. Most managers, however, do not view payout policy as a means to self-imposed discipline. Access to new set of investors is also a reason why management will issue dividends (CASE). As different clienteles hold different preferences in income and in taxes to be paid, some have a stronger preference for dividends than others (Berk DeMarzo, 2007). To attract for instance mutual funds and European investors companies have more success when they issue dividends. Dividends are also more likely to attract retail investors as they prefer dividends over repurchases (Brav, Graham, Campbell, Harvey, and Michely, 2005). Why has the rate of dividend initiations changed over time? There has been a general trend away from dividends from the late 1970s through the rest of the twentieth century. In 1978, over 66 percent of the AMEX, NYSE, and NASDAQ firms paid a regular dividend. By 1999, only 21 percent were dividend payers. Below several reasons are listed for this trend, including: changing firm characteristics, more stock option compensation, US tax law, and dividends inflexibility. Besides, in the late 1950s the starting point for most payout decisions was the payout ratio (Lintner, 1956), while recently this is no longer a common practice for most firms. Firms that were going public in the 1980s and 1990s were early in their lifecycle, with considerable more growth opportunities than current profits (CASE). There tend to be fewer firms in this lifecycle that issue dividends (Graham et al, 2004). In a large part, technology firms, as Linear Technology, were driving this trend. Many of these firms were just about to reach the stage at which they were able to pay dividends, the stage where they began to earn regular and more predictable cash flows (CASE). But even large technology firms, that held stable cash flows, tended to restrain from dividends. One reason for this was the heavy use of stock option compensation. With the majority of their pay in options, managers are not likely to pay dividends as it does not benefit them that much. Furthermore when dividends are issued instead of repurchases, the outstanding amount of stock is increased once options are exercised, resulting in a decrease in the earnings per share (CASE). Although US tax law changed in 2003, making it more attractive to issue dividends, they still are at a tax disadvantage compared to capital gains that can be deferred. Until 2003 issuing dividends was thus even at an even bigger disadvantage to other forms of pay-out (Brav, Graham, Campbell, Harvey, and Michely, 2005). This, however, does not explain the downward trend in dividends, but it does explain why dividend s have never risen in popularity amongst managers. Unlike repurchases, managers are very reluctant to cut dividends and tend to smooth dividends. Among others, they are in most cases even more willing to forgo positive NPV projects, raise external funds, sell assets, or lay off sincere amounts of employees before cutting dividends. The asymmetry between dividend increases and decreases probably leads firms to restrain from issuing before having to resolve to the previously described in general unfavorable practices. Today managers are not so strict on payout ratios anymore. Furthermore, the speed of adjustment, by correcting dividends to their target, is not as high as it once was. This could be a result of the declined benefits of being close to the target or the higher cost of adjustment (Brav, Graham, Campbell, Harvey, and Michely, 2005). What should Paul Coghlan recommend to the board? All in all, if LT pursues to maximize shareholder value, it would not be advisable to increase dividends. Considering the current economic turmoil and the inflexible nature of dividend payments, dividend payments become undesirable. Additionally investing in new business opportunities would be beneficial for both the firm and the current shareholders. Although LT has not identified any positive NPV projects yet, there are opportunities in Asia, and therefore it would be wise for LT to return only part of its cash to the shareholders. They can best do this via a more flexible way such as special dividend or repurchases. Holding cash in the firm allows for a better credit rating when entering the capital market, when LT encounters a positive NPV project it wishes to invest in it can finance it partly by cash held and partly by debt financing. There is no ideal set up for cash returns but deriving from the advice of Rollins given in the case, it could be beneficial for LT to hold 1/4 of its cash as a cushion for economic turmoil, invest 1/4 of its cash in short-term securities to generate interest, hold 1/4 to be used in case of encountering good business opportunities, and return 1/4 to its shareholders via repurchases or a special dividend. This would still result in a $375m return for its shareholders.

Sunday, October 13, 2019

Essay on The Holy Bible - Genesis, Chapter One -- Holy Bible Genesis E

Genesis - Chapter One as an Executive Summary â€Å"In the beginning†¦Ã¢â‚¬  Genesis 1:1 Acknowledging a beginning in the first sentence of any text is in itself indicative of the nature of the text as a whole. It is an acknowledgement of a creation. It is an admission that what is has not always existed and that a higher power is at work. Genesis begins with this phrase as a reminder of the existence of God; it emphasizes the fact that man is not alone. Dually, the phrase also is indicative of the nature of the Book of Genesis, and as the first book of the Bible it sets the frame for the entire text. â€Å"In the beginning†¦Ã¢â‚¬  illustrates the importance of the themes introduced in Chapter One—they form the structural basis of Genesis and are consistently emphasized throughout the book. The Book of Genesis begins with the Creation account that offers a set of detailed instructions as to how humans are to live and view their lives. Genesis Chapter One is an introduction of every theme that is to be addressed in depth throughout the book and, although myt hological in its narrative style, it constructs the main point of Genesis while the remaining forty-nine chapters supplement and elaborate upon the first account of the Creation. The overall account of the Creation in Chapter One is notable for its order, especially its ordering according to spatial differentiation and different levels of detail. It begins with God organizing the universe by the separation of the heaven from the earth, the light from the dark, the sea from dry land. After all of the major divisions are completed, God begins to organize within the new spaces. He deals first with the earth and then with the sky. The whole earth is made to bring forth plants, then the heavenl... ... of what will occur in the remainder of Genesis. Not only does it provide an account of a beginning through creation, but it also offers a summary of the beginning of humanity in the full maturation of its blessing. Human beings are separated from beasts through this blessing because humans are the only creation that plays an active role in their own creation. It is not until the blessing is delivered and realized that human beings are fully formed, and they themselves must play an active role in its actualization. An understanding of the blessing is an understanding of what it is to be a human. The first creation account is not only a summary of the rest of the book, but a summation of how humanity can be achieved. NOTES 1 The Holy Bible, Authorized (King James) Version. 2 I am indebted to Mr. Rob Geis for this point given in his lecture on 11 May 2004.