Yamamoto Essay Example For Students

Yamamoto Essay Yamamoto, the man who planned Pearl Harbor increased my knowledge about thepeople of Japan because it introduced me to their culture, and the life andtimes in Japan before World War II. In Japan, the family is the basic unit ofsociety. For example, if a Japanese has the unfortunate occurrence of producingonly daughters, they will insist that one of their daughters husbands changeshis last name to keep their daughters last name alive. It was, also, notunusual for people to change their last names. Isoroku Tankano was born in 1884. In 1916, he changed his last name to Yamamoto, because the name Yamamoto was anhonorable and ancient one in the history of Japan. One such figure was TatekawaYamamoto, who fought against the Emperor, and his forces at the Battle ofWatkamatsu, during the Bosshin War. Since he was one of the leaders of therebellion, when he was captured, he was beheaded at Watkamatsu. Since Tatekawahad no sons, Isoroku was also the future of the Yamamoto clan. Not uncommon inJapan was the fact that men got married for the purpose of producing sons tokeep the family name alive. This is exactly what Isoroku did. In 1918, he gotmarried to Reiko, who, ironically, was from Watkamatsu. They had 4 childrentogether, 2 sons, and 2 daughters. It was the standard Japanese family, themother in charge of the household and of raising the children. He never reallyloved her, because he had many extramarital affairs, and 2 of the women heloved. The life and times in Japan right before World War 2 aresimply explained: T he Imperialist Japanese Army, otherwise known as theyoung Turks was steadily gaining power in the government, wasassassinating anyone who did not share in their views for a united Asia(Yamamoto received many death threats, because he wanted to avoid war with theU.S.A. or with Great Britain at all costs), and was using propaganda to convincethe Japanese to believe in a united Asia. The Emperor could not stop what wasgoing on in his country because Emperors stayed out of the daily life of hispeople. When I say that the government is to unstable, I mean that it is toosusceptible to being taken over by an army. For example, in the 1930s, theImperialist Japanese Army was using their influence over the Minister of War totake over Manchuria, and eventually the Japanese government, and they were usingassassination as the chief method of wiping out any political opposition. Also,if I moved in Japan, the culture shock would be enormous, starting with thesimple language barrier, and the differ ence in religion. Isoroku Yamamoto wascorrect in his thinking that war between the U.S.A., Great Britain, and Japanshould be avoided at all costs, and in the event of war between the U.S.A.,Great Britain, and Japan, Japan would lead in the beginning, like the first 6 to12 months, but would eventually lose the war. One quality I admire aboutYamamoto is that he was able to do a task that he was totally against. Forexample, even though he was against going to war against the U.S.A. and GreatBritain, when the Imperialist Japanese Navy appointed him Commander of theCombined Fleet, he immediately went to work on a battle plan (Which we all knowresulted on the attack on Pearl Harbor). Another quality of Yamamotos that Iadmire is that he led his life to the fullest. He was an avid gambler, both atthe table, and at a time of war. One such gamble he took was on April 18, 1943when he flew in a battle and was shot down. The truth is that the Americansdecoded Japans naval code, found out the det ails of Yamamotos flight, and F.D.R. We will write a custom essay on Yamamoto specifically for you for only $16.38 $13.9/page .ucc0d6138e680a01507580f02038d3ff0 , .ucc0d6138e680a01507580f02038d3ff0 .postImageUrl , .ucc0d6138e680a01507580f02038d3ff0 .centered-text-area { min-height: 80px; position: relative; } .ucc0d6138e680a01507580f02038d3ff0 , .ucc0d6138e680a01507580f02038d3ff0:hover , .ucc0d6138e680a01507580f02038d3ff0:visited , .ucc0d6138e680a01507580f02038d3ff0:active { border:0!important; } .ucc0d6138e680a01507580f02038d3ff0 .clearfix:after { content: ""; display: table; clear: both; } .ucc0d6138e680a01507580f02038d3ff0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ucc0d6138e680a01507580f02038d3ff0:active , .ucc0d6138e680a01507580f02038d3ff0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ucc0d6138e680a01507580f02038d3ff0 .centered-text-area { width: 100%; position: relative ; } .ucc0d6138e680a01507580f02038d3ff0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ucc0d6138e680a01507580f02038d3ff0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ucc0d6138e680a01507580f02038d3ff0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ucc0d6138e680a01507580f02038d3ff0:hover .ctaButton { background-color: #34495E!important; } .ucc0d6138e680a01507580f02038d3ff0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ucc0d6138e680a01507580f02038d3ff0 .ucc0d6138e680a01507580f02038d3ff0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ucc0d6138e680a01507580f02038d3ff0:after { content: ""; display: block; clear: both; } READ: Greenspan - The Case For The Defence In-Depth Revi Essay Order now himself ordered American pilots to ambush Yamamoto and the Japanese. Japan didnot know that the U.S.A. decoded their signal. Yamamoto also had certain ideals,or standards of excellence. For example, he believed that the students at theKasumigaura Aviation Corps were not being trained harsh enough, so he made thetraining there a lot tougher, he made all the students there shave their longhair, but he finished the security rounds for the students, showing he had aheart. Isoroku Yamamoto did not have to overcome many hardships on his climb tothe top of the success ladder except for being poor. Another particular negativeincident, which occured in 1928, when he was overseeing a training exercise inthe Sea of Japan, was when all of a sudden, overcast clouds appeared and thepilots could not see the ship at all, and then, over the radio, one of thepilots kept on describing how he had 30 minutes of fuel left in his tank, 25minutes of fuel left, 20 minutes, 15 minutes, 10 minutes, 5 minutes, and then,there was no more contact with any of the planes, they all crashed into thewater, and Yamamoto did not sleep, eat, or drink until all the bodies wererecovered. Isoroku Takano was born in 1884, in a medium sized city calledNagaoka. In 1901, Isoroku won an appointment to the Imperial Naval Academy, onthe little Island of Eta Jima, off the coast of Hiroshima. He won an appointmentthere because on a competitive entrance examination, he scored second out of thetop students in the entire nation. His appointment signaled changing times inJapan, because, even though that all the enemies had not completely passed on,it signaled that the new government was making strides to unify the new Japan. At the Academy, Isorokus speciality was gunnery, which meant that he wouldbecome a deck specialist In 1904, upon his graduation at the Japanese NavalAcademy, Isoroku joined the Imperial Japanese Navy aboard the cruiser Nisshin asa deck officer, and as a gunnery specialist. The Nisshin was one of the cruisersused in the Russo Japanese war. In August,1905, Isoroku was sent to thegunnery school at Yokosuka Naval Base. In September of that year, he waspromoted to sublieutenant. In October, 1905, He received a letter ofcommendation for the brave action taken in the Battle of Tsushima Strait, whichmeant that his career was on the rise. He remained at Yokosuka until 1907, whenhe was transferred to the ship Kagero, and his naval career resumed slowly, asit should during a time of peace. In 1908, the sublieutenant served aboard theMaezuru, in Manchurian waters. In 1911, Isoroku was promoted to Lieutenant,moving slowly up the chain of experience and promotion in a peacetime navy. Isorokus father died on February 21, 1912, and around this time, his motherfell gravely ill. He received military leave, to tend to his dying mother. Hewanted to quit the navy, but his mother would not let him. In August, 1912,Isorokus mother died. In 1913, Isorokus career moved into high gear. Hereceived an appointment to the Naval Staff College at Tsukiji. In 1915, Isorokuwas promoted to lieutenant commander. Graduation from this college was requiredif you wanted to hold a staff position in the Japanese navy and in 1916, hegraduated from the Naval Staff College. Also in 1916, there were some personalchanges in Isorokus life. First and Foremost, as mentioned previously, Isorokudropped his last name Takano and changed it to Yamamoto. Also, Yamamoto realizedthe time was correct to get married, and on August 31, 1918, Yamamoto and Reikowere married at the Navy Club in Shiba, Tokyo. On April 4, 1919, Yamamoto traveledto America aboard the Suwa Maru. Of course, he traveled in first class . He wentto Cambridge, Massachusetts, where he was enrolled in a special course forforeigners at Harvard University titled English E. He also studied Petroleumresources, since it is of great importance to Japan. In December, 1919, Yamamotowas promoted to commander of the Imperial Japanese Navy. While in America, hewas interested mostly in aviation. He read in newspapers, and on the radio thatGeneral Billy Mitchell of the U.S.A. Army trying to convince Congress thatairplanes could sink a battleship, but nobody believed him. He left America in1922. In 1922, Yamamoto was appointed to teach at the navy staff school. InAugust, he left the school, and took a job as an executive officer aboard thecruiser Kitakami. Also in 1922, Yamamoto and his wife had a son, Yoshimasa, andone of his obligations as a member of the Yamamoto clan was fulfilled. In 1923,he was promoted to captain of the Imperial Japanese Army, and in June, he wasappointed to the cruiser Fuji. He held this position for a year before heconvinced his bosses to let him teach at the Kasumigaura Aviation Corps. Late in1924, he all of a sudden became executive officer, and director of studies. He institutedharsh new dress codes, and somewhat changed the curriculum. At first, thestudents complained, but they eventually settled down. In 1925, Yamamoto had adaughter, Sumiko. He was also appointed as a Japanese naval attack. He left forAmerica on January 21 aboard the ship Tennyo Maru. His job was to observe allactivities of the U.S.A. Navy, particularly to the adherence to the Naval Treatyof 1922. In the spring of 1928, it was time for Yamamoto to go home. In the sameyear, Yamamoto was appointed to command the cruiser Akagi. In the end of 1929,he was appointed to the Naval Affairs Bureau of the Navy Ministry. Also in 1929,Yamamoto had a second daughter, Masako. He was also appointed to the delegationthat would be sent to the London Naval Conference in 1930. One part of theJapanese group sent to the London Naval Conference in 1930, the fleet faction,wanted equal treatment compared with the U.S.A., and Great Britain. Another partof the Japanese delegation, the treaty faction would be quite happy with 70% ofthe Navy that the U.S.A., or Great Britain had. The old portion was 66%, andafter the conference, it remained at that figure. While at the conference,Yamamoto was promoted to Admiral. His new job would be to develop new naval,air, and aircraft weapons. On October 3,1933, he was appointed to command theFirst Air Division of the Navy. In 1936 Yamamoto was named head of theaeronautics department of the navy. This job lasted only a short time, becausehe reluctantly accepted an appointment as vice minister of the navy, in the sameyear. Soon after his appointment, it was rumored that he was a primary targetfor an assassination. He held this position until August 30, 1939, when he wasappointed Commander of the Combined Fleet. Soon after his appointment, he beganplanning his attack on Pearl Harbor . On December 7, 1941, the Japanese Navy, ledby Isoroku Yamamoto, attacked Pearl Harbor, and Japan took an early lead in thewar. The turning point of the war was the Battle of the Midway, when the U.S.A. .u9b1fb107b987c318b07c49fb1d52a01d , .u9b1fb107b987c318b07c49fb1d52a01d .postImageUrl , .u9b1fb107b987c318b07c49fb1d52a01d .centered-text-area { min-height: 80px; position: relative; } .u9b1fb107b987c318b07c49fb1d52a01d , .u9b1fb107b987c318b07c49fb1d52a01d:hover , .u9b1fb107b987c318b07c49fb1d52a01d:visited , .u9b1fb107b987c318b07c49fb1d52a01d:active { border:0!important; } .u9b1fb107b987c318b07c49fb1d52a01d .clearfix:after { content: ""; display: table; clear: both; } .u9b1fb107b987c318b07c49fb1d52a01d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9b1fb107b987c318b07c49fb1d52a01d:active , .u9b1fb107b987c318b07c49fb1d52a01d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9b1fb107b987c318b07c49fb1d52a01d .centered-text-area { width: 100%; position: relative ; } .u9b1fb107b987c318b07c49fb1d52a01d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9b1fb107b987c318b07c49fb1d52a01d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9b1fb107b987c318b07c49fb1d52a01d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9b1fb107b987c318b07c49fb1d52a01d:hover .ctaButton { background-color: #34495E!important; } .u9b1fb107b987c318b07c49fb1d52a01d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9b1fb107b987c318b07c49fb1d52a01d .u9b1fb107b987c318b07c49fb1d52a01d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9b1fb107b987c318b07c49fb1d52a01d:after { content: ""; display: block; clear: both; } READ: lee night Essaycracked Japans code. On April18, 1943, Yamamotos plane was ambushed by American forces, and Yamamotos planewas shot down, killing him instantly. The decision to ambush Yamamotos planewas made by F.D.R. Yamamoto was a very loyal man, a patriot, if you will. He did hisjob even when he disagreed with it, he flew a plane even though it was notnecessary, and he cared about everyone he knew. From the American point of view,he was an evil man who killed many, put to the Japanese, he was a patriot, and ahero.

characters we call gunfighters essays

characters we call gunfighters essays The period following the Civil War was a time of great uneasiness. It was an era that gave rise to the Western outlaws. They were bandits, gunfighters, and men guilty of hundreds of crimes, but they were also important in shaping American folklore. Two important factors contributed to the making of these legends. The transition that these men under went from solider to ranch hand or cowboy, and the making of their legends through the media molded the way we perceive gunfighters today. I feel that the media had a major role in creating the characters, legends and hero's that we learn about in history. The Civil War gave many young men a taste of conflict and killing. Many that fought the War were a very tender age and very impressionable. According to an article written by Mark Sufrin called "The Western Gunman", he said that the "Civil War soldiers were to much in love with killing after years of violence to settle down"(23). After the Civil War many of the men were hired by ranchers as ranch hands which paid little for their hard work. Many of the young cowboys found themselves craving the life they had lived for four years of violence and killing. It was these impulses that caused them to run rampant across the west, robbing banks and holding up trains. As the west was growing so was the need for law and order. Town sheriff's and U.S. Marshal's took on that role. This would pave the way for the so called "gunman and gunfighters". According to the Encyclopedia Britannica, "One example of this was a young man named Jesse James who fought in the Civil War when he was fif teen. He and his older brother Frank were in the pro-southern guerrillas led by William C. Quantrill. After the war, Jesse formed a highly successful gang. They held up banks, stagecoaches, and trains until 1876 when the gang was shot to pieces by the folks of Northfield, Minnesota when they tried to rob two ban ...

Philosophy and Media Essay Example | Topics and Well Written Essays - 750 words

Philosophy and Media - Essay Example Neo begins to seriously reflect upon the nature of his identity and existence in the middle of the movie as he is already taken to the Nebuchadnezzar. This rather personal and philosophical search begins with Agent Smith saying that Neo is seeking answers to his own questions although Neo himself does not even realize he is doing this. The point is that Neo’s search for himself and questions about his existence begins with a doubt, much like the 17th century philosopher Rene Descartes who wrote, â€Å"†¦it will be sufficient to justify the rejection of the whole if I shall find in each some ground for doubt† for this systematic process of doubting is â€Å"the only way to achieve clear and well-reasoned conclusions† (Author, Year). This means that if Neo had not doubted his existence, he would have simply stayed in the Matrix and, although such ignorance would have felt like bliss, he would forfeit all the possibility of knowing who he really is and what rea lity is actually like. As Morpheus tells Neo what he and reality are really like as well as what the Matrix is, this is the only time that Neo begins to realize his true identity and only then is he able to start being conscious of his own existence. Besides, â€Å"it would be impossible to be self-conscious if we didn’t have a personal identity of which to be conscious† (Author, Year). After Morpheus explains to Neo what he calls â€Å"the desert,† which is a rather simplistic term for what the real environment looks like in contrast with the virtual environment in the Matrix, Neo is shocked but is enlightened at the same time (Berman & Wachowski, 1999). Nevertheless, as he learns the truth that he is a person of and from this â€Å"desert,† it is only then that he comes to develop true self-consciousness. Moreover, Neo bases his own existence on his mind, or, more specifically, on the activities of his mind, or on his mental faculties. He knows that he exists only through his thoughts and his beliefs. The actions of his thoughts are evident in the scenes where he discovers his hidden abilities merely by thinking through his Kung Fu training with Morpheus and the one where he has to jump from one building rooftop to another. Through these scenes, Neo is able to prove once again a rationalistic approach to reflecting on his own identity. According to Descartes, â€Å"†¦it would even happen, if I should wholly cease to think, that I should at the same time altogether cease to be† (Author, Year). Therefore, realizing that he is a thinking being and that it is through this thinking faculty that he defines his own existence, Neo then proceeds from this and develops his self-consciousness and the various aspects of himself – physically, emotionally and intellectually – from his thinking mind. Furthermore, he also chooses the Real World as the place where he develops aspects of himself and not from the Matrix, wh ere such aspects are fake. In short, upon knowing that his true identity is that of the Real World, Neo has now attained a degree of self-consciousness where he would make choices only based on the context of the Real World and not anymore of the Matrix. The Matrix then, which is represented by Agent Smith

Cybersecurity Coursework Example | Topics and Well Written Essays - 500 words - 6

Cybersecurity - Coursework Example g to the increasing significance of technology in the daily lives of mankind, many people share their personal information on the internet which can at times prove dangerous due to web hackers who can misuse the data due to immoral practices. Anonymity helps to maintain the secrecy of individual’s identity. This also helps to protect specific actions performed by the individuals. For instance, anonymity helps protecting funds and monetary transfers made by individual over internet. It has often been observed that people feel uncomfortable to share banking or personal information on the internet as it might hamper their personal interests. Anonymity is often regarded as the option which can be useful in such situations as it creates a sense of security and helps to protect privacy by a large extent. There are many negative effects of anonymity on individuals as well. To be illustrated anonymity also helps people who have malicious intentions to hamper the interests of other users and escape without being identified. It also creates misrepresentation about the user’s profile on internet. In the recent phenomenon, the most apparent negative effect of anonymity can be identified as cyber crime. Hence, as it can be observed from the above discussion, to a certain extent, the negative impacts of anonymity tend to be stronger and more effectual than its benefits, which in turn outweigh its advantages. Question: 2 Are non-literate internet users at a higher risk for experiencing identity theft? Explain specifically how end-user tracking and recording technologies may either increase or reduce cyber security risks for non-literate users when using the internet, or when shopping at a brick and mortar establishment The non-literate internet users have a high risk because of the increasing cyber crime, as they tend to share personal information without having proper knowledge of the website. At times, the information of those non-literate users is hacked by the cyber

An assessment of business value of information technology in Literature review

An assessment of business value of information technology in organisations - Literature review Example There are more reasons to justify why it is essential to invest on Information technology, although other fail view Information Technology as a business venture that can pay off after some time (Carlos and Macada, 2012). This discussion will look at the relevant theories and models on IT business values, different views on Information Technology business value and effectiveness and efficiency of information systems to support decision making. In order to understand the effectiveness and efficiency of information systems on decision making a lot of factors must be put into consideration. Using of technical efficiency as a performance criterion when application of individual analytical occurs. Information technology contributions in different countries differ in magnitude from a production point of view due to increase and decrease of the countries technical efficiency. Spending on Information technology will not improve countries technical efficiency. Whether a country is developing o r not, is not a subject to look at in order for it to improve its technical efficiency in the field of information technology. Relevant use of theories and models and good decision makes it possible for a country to have an efficient and effective Information technology. ... Defining the substance of technology, how it changes its relation towards human practices or social structure, and how it emerges are addressed by Descriptive theories. The descriptive theories view that how much force it has in determining human practices or social structure, and how much it addresses the extent in which technology is autonomous substantively. Social construction of technology in connection to descriptive approach states that, technology does not necessarily determine human action; on the contrary it is the human actions that shape technology. Actor-network theory is also necessary theory in business IT. This theory addresses a heterogeneous network of non-humans and humans as similar interrelating actors. Technology acceptance model (TAM) is a well known model that relates to Information technology use and acceptance. This model was originally proposed by Davis in 1986. This theoretical model has continuously proven to be of great help because it predicts and expla ins user behavior of information technology. This model is also considered to be an influential extension of theory of reasoned action (TRA) (Heijden, 2000). Its mandate was to explain why a user rejects or accepts information technology by adapting theory of reasoned action. By the use of technology acceptance model one can menage to get the basis to trace how external forces influence attitude, belief, and intentions to use. There are two cognitive beliefs that are associated with technology acceptance model. These are perceived ease to use and perceived usefulness. According to technology acceptance model, one use of a technology system is manipulated either directly or indirectly by the user’s attitude, behavioral

Capital structure and approaches to capital structure

Capital structure and approaches to capital structure It is defined as the mix or proposition of a firms permanent long-term financing represented by debt, preference stock, and common stock equity. Capital structure theory suggests that firms determine what is often referred to as a target debt ratio, which is based on various tradeoffs between the costs and benefits of debt versus equity. The term capital structure refers to the percentage of capital (money) at work in a business by type. Broadly speaking, there are two forms of capital: equity capital and debt capital. Each has its own benefits and drawbacks and a substantial part of wise corporate stewardship and management is attempting to find the perfect capital structure in terms of risk / reward payoff for shareholders. This is true for Fortune 500 companies and for small business owners trying to determine how much of their startup money should come from a bank loan without endangering the business Lets look at each in detail: Equity Capital This refers to money put up and owned by the shareholders (owners). Typically, equity capital consists of two types: 1) contributed capital, which is the money that was originally invested in the business in exchange for shares of stock or ownership and 2)  retained earnings, which represents profits from past years that have been kept by the company and used to strengthen the  balance sheet  or fund growth, acquisitions, or expansion. Many consider equity capital to be the most expensive type of capital a company can utilize because its cost is the return the firm must earn to attract investment. A speculative mining company that is looking for silver in a remote region of Africa may require a much higher  return on equity  to get investors to purchase the stock than a firm such as Procter Gamble, which sells everything from toothpaste and shampoo to detergent and beauty products. Debt Capital The debt capital in a companys capital structure refers to borrowed money that is at work in the business. The safest type is generally considered long-term bonds  because the company has years, if not decades, to come up with the principal, while paying interest only in the meantime. Other types of debt capital can include short-term commercial paper utilized by giants such as Wal-Mart and General Electric that amount to billions of dollars in 24-hour loans from the capital markets to meet day-to-day working capital requirements such as payroll  and utility bills. The cost of debt capital in the capital structure depends on the health of the companys balance sheet a triple AAA rated firm is going to be able to borrow at extremely low rates versus a speculative company with tons of debt, which may have to pay 15% or more in exchange for debt capital. Other Forms of Capital There are actually other forms of capital, such as  vendor financing  where a company can sell goods before they have to pay the bill to the vendor, that can drastically increase return on equity but dont cost the company anything. This was one of the secrets to  Sam Waltons success at Wal-Mart. He was often able to sell Tide detergent before having to pay the bill to Procter Gamble, in effect, using PGs money to grow his retailer. In the case of an insurance company, the policyholder float represents money that doesnt belong to the firm but that it gets to use and earn an investment on until it has to pay it out for accidents or medical bills, in the case of an auto insurer. The cost of other forms of capital in the capital structure varies greatly on a case-by-case basis and often comes down to the talent and discipline of managers. SEEKING THE OPTIMAL CAPITAL STRUCTURE Many middle class individuals believe that the goal in life is to be debt-free. When you reach the upper echelons of finance, however, that idea is almost anathema. Many of the most successful companies in the world base their capital structure on one simple consideration: the cost of capital. If you can borrow money at 7% for 30 years in a world of 3% inflation and reinvest it in core operations at 15%, you would be wise to consider at least 40% to 50% in debt capital in your overall capital structure. Of course, how much debt you take on comes down to how secure the revenues your business generates are if you sell an indispensable product that people simply must have, the debt will be much lower risk than if you operate a theme park in a tourist town at the height of a boom market. Again, this is where managerial talent, experience, and wisdom comes into play. The great managers have a knack for consistently lowering their  weighted average cost of capital  by increasing productivity, seeking out higher return products, and more. To truly understand the idea of capital structure, you need to take a few moments to read Return on Equity: The DuPont Model  to understand how the capital structure represents one of the three components in determining the  rate of return  a company will earn on the money its owners have invested in it. Whether you own a doughnut shop or are considering investing in publicly traded stocks, its knowledge you simply must have. Question on our minds: Can the total valuation of a company (debt+equity) and the cost of capital be affected by changing the financing mix. The imperfections in the market play a vital role in the valuation of a company. This data is of utmost importance to the suppliers of capital. Changes in the financing mix are assumed to occur by issuing debt and repurchasing common stock or by issuing common stock and retiring debt. Example 1. Assume a company whose earnings are not expected to grow and which pays out all of its earnings to its shareholders in the form of dividends. All kinds of market imperfections are not considered in the current example, for simplicity in calculations. We are concerned mainly with 3 different rates of return. The first is The yield on companys debt, ki = = The second rate of return that we are concerned with is ke = = With our assumptions that the firms earnings are not expected to grow and which has a 100 percent dividend payout, the firms earning per price represents the market rate of discount that equates the present value of the perpetual stream of expected constant future dividends with the current market price of the common stock. The third rate to be calculated is ko = = These 3 different rates of return affect the amount of financial leverage, which is the debt to equity ratio. ko is defined as the overall capitalization rate of the firm. It is designed as the weighted average cost of capital, and can also be expressed as ko = ki [] + ke [] Calculating A Companys Capital Structure Review your companys most recent financial statements to find all of the capital components. Highlight all of the debt of the company and the equity (including common and preferred shares, capital contributions and retained earnings). Add up the total debt and equity It will be equal to your companys assets on the balance sheet because the debt and equity is what paid for those assets. Your capital structure is the percentage that each funding source represents of your companys total funding. Lets look at an example. Lets say you have the following capital components: bank loan $176,500, retained earnings $54,300, common stock $12,500. That makes your total capital $243,300. To calculate your capital structure, take the dollar amount of each capital source and divide it by the total capital. In the above example, the bank loan is 72.5%, retained earnings 22.3%, capital stock 5.2% for a total of 100%. Monitor your companys capital structure over time. Debt tends to be the most expensive source of capital and, over time, you will determine the most effective blend of debt versus equity financing for your particular situation. Calculating your actual capital structure will allow you to track how closely you are following your ideal capital structure. Factors Affecting Capital Structure The factors that affect the decisions taken regarding capital structure can be divided into three major types: Internal Factors External Factors General Factors INTERNAL FACTORS Cost of Capital The cost of capital is the cost of the companys funds. It consists of debts and equity. When a company raises funds for its operations there are certain costs involved. When decisions regarding the capital structure are taken, managers ensure that the earnings on the capital are more than this cost of capital. In general, the cost of borrowing capital is less than the cost of equity capital. This is because the interest rate on loans and borrowings is less than the dividend rates and also the dividends are a function of the companys profits and not expenditure. Risk Factor When decisions regarding capital structure are to be taken, the risk factors considerations are an important issue. If company raises its funds through debts, the risks involved are of two types: The company has to repay the lenders in a fixed time period and at a fixed rate, whether or not the company makes profit or goes into loss. The borrowed capital is secured capital. Hence, if the company fails to make the payments, the lenders can take possession of the companys assets. If the company goes for funds through equity capital there are minimum risks. As the dividends are an appropriation of the companys profits, if it does not make any profit, it is not obliged to make the payments. In contrast to debt capital, here the company is not expected to repay its equity capital. And also the equity capital is not secured. Control Factor When additional funds are to be raised, the control factors are very essential in deciding the capital structure of the company. When a company decides to issue further equity shares the control of the company may be at stake. Hence, it may not be acceptable to its shareholders and owners. This factor is not vital in case of debt financing, except when financing institutions stipulate the appointment of nominee directors in the Board of Directors of the company. Objects of Capital Structure Planning They are- Maximize profit of the owners Issue transferable securities Issue further securities in a way that does not dilute the holdings of the present owners EXTERNAL FACTORS General Economic Conditions: If the economy is in the state of depression, equity funding is considered as it involves less risk. While, if the economy is booming and the interest rates are forecasted to fall, debt funding is given preference. Interest Rate Levels: If the interest rates are high in the capital market, equity funding is preferred until the interest rate levels fall down. Policy of Lending Institutions: If the terms and policies of the financing institutions are rigid and harsh, debt financing should be ignored and equity financing should be tapped. Taxation Policy: The government has taxation policies which include corporate taxes as well as individual taxes. The government includes individual taxes on both borrowings as well as dividends. Also income tax deductions are offered on interests paid on borrowings. All these factors have to be considered while planning capital structure. Statutory Risks: While planning Capital Structure, the statutory risks given by the Government and other statutes are to be considered. GENERAL FACTORS Constitution of the company: If the company is private limited, the control factors are essential while if the company is public limited, the cost factors are essential. Characteristics of the company: Companies which are small and in the early stage have weak credit standings and bargaining capacity, hence they have to rely on equity financing. While big companies have strong credit standings and they can source their funds from borrowings with acceptable interest rates. Stability of earnings: The companies which have stable earnings and the risks involved are less, go for debt funding as they can handle the high risk factors. While companies whose earnings are forecasted to be fluctuating, usually go for less risky equity funding. Attitude of the Management: For a company with conservative management, the control factor is more important, while a company with a liberal management considers the cost factors to be more important. Approaches to Capital Structure Net Operating Income Approach Traditional Approach Net Income Approach Modigliani Miller Approach Net Operating Income Approach David Durand proposed the net income approach to capital structure. This approach looks at the consequence of alterations in capital structure in terms of net operating income. Under this approach, on the basis of net operating income, the overall value of the firm is measured. Therefore this approach is identified as net operating income approach. The NOI approach entails that: Largely the value of the firm does not depend on the degree of leverage in capital structure and hence whatever may be the change in capital structure the overall value of the firm is not affected. In the same way, the overall cost of capital is not affected by any change in the degree of leverage in capital structure. The overall cost of capital is independent of leverage. Under the net income approach, the overall cost of capital is unaffected and remains constant irrespective of the change in the ratio of debts to equity capital when the cost of debt is less than that of equity capital whereas it is assumed the overall cost of capital must decrease with the increase in debts. How is this assumption justified? With the increase in the amount of debts the degree of risk of business increases. As a result the rate of equity over investment in equity shares thus on one hand the WACC decreases with the increase in the amount of debts; on the other hand cost of equity capital increases to the same tune. Therefore the benefit of leverage is mopped away and the overall cost of capital remains at the same level. In other words there are two parts of the cost of capital. Interest charges on debentures. The increase in the rate of equity capitalization resulting from the increase in risk of business due to higher level of debts. OPTIMUM CAPITAL STRUCTURE This approach suggests that whatever the degree of indebtedness of the company, market value remains constant. Despite the change in the ratio of debt to capital in the market value of its equity shares remains constant. This means that there is no optimal capital structure. Each capital structure is optimal in approach of net operating income The market value of the firm is determined as follows:   The value of equity can be determined by the following equation and   The Net Operating Income Approach is based on the following assumptions: Example: ABC Ltd., is expecting an earnings before interest tax of Rs.1,80,00,000 and belongs to risk class of 10%. You are required to find out the value of firm % cost of equity capital if it employs 8% debt to the extent of 20%, 35% or 50% of the total financial requirement of Rs. 90000000. Solution Statement showing value of firm and cost of equity capital   20% Debt 35% Debt 50% Debt Earnings before interest tax EBIT ($) 18000000 18000000 18000000 Overall cost of capital 10% 10% 10% Value of firm (V) = EBIT Cost of Capital{EBIT/Cost of Capital} 180000000 180000000 180000000 Value of 8% debt (D) 18000000 (20% ÃÆ'- 90000000) 31500000 (35% ÃÆ'- 90000000) 45000000 (50% ÃÆ'- 90000000) Value of equity (V D) 162000000 148500000 135000000 Net profit (EBIT Interest) 16560000 (18000000 1440000) 15480000 (18000000 2520000) 14400000 (18000000 3600000) (Cost of equity (Kc) 10.22% 10.42% 10.66% (Net profit/value of equity) ÃÆ'- 100 (16560000/ 162000000) ( 15480000/ 148500000) ( 14400000/ 135000000) It is apparent from the above computation that the overall cost of capital value of firm; re-constant at different levels of debt i.e., at 20%, 35% and 50%. The benefit of debt content is offset by increase in the cost of equity. The overall cost of capital (k0) remains constant and can be verified as follows: Overall Cost of Capital k0 = kd   (D/D+S) + Ke   (S/D+S) 20% Debt K0 =   $4,00,000/$40,00,000   ÃÆ'-8% + $36,00,000/$40,00,000 X   10.22% = 0.008 + 0.092 = 0.10 or 10% 35% Debt K0 = $7,00,000/$40,00,000   ÃÆ'-8% + $33,00,000/$40,00,000 X   10.42% = 0.014 + 0.0859 = 0.0999 Or 10% 50% Debt K0 = $10,00,000/$40,00,000   ÃÆ'- 8% + $30,00,000/$40,00,000 X   10.66% = 0.02 + 0.07995 = 0.0995 or 10% Traditional Approach Traditional approach is a  middle-way approach between net operating income approach the net income approach. According to this approach: (1) A best  capital structure  does exist. (2) Market value of the firm can be increased and average cost of capital can be reduced through a prudent manipulation of leverage. (3) The cost of debt capital increases if debts are increases beyond a definite limit. This is because the greater the risk  of business  the higher the  rate of interest  the creditors would ask for. The rate of equity capitalization will also increase with it. Thus there remains no benefit of leverage when debts are increased beyond a certain limit. The cost of capital also goes up. Traditional Approach Thus at a definite level of mixture of debts to equity capital, average cost of capital also increases. The  capital structure  is optimum at this level of the mix of debts to equity capital. The effect of change in  capital structure  on the overall cost of capital can be divided into three stages as follows; First stage In the first stage the overall cost of capital falls and the value of the firm increases with the increase in leverage. This leverage has beneficial effect as debts as debts are less expensive. The cost of equity remains constant or increases negligibly. The proportion of risk is less in such a firm. Second stage A stage is reached when increase in leverage has no effect on the value or the cost of capital, of the firm. Neither the cost of capital falls nor the value of the firm rises. This is because the increase in the cost of equity due to the assed financial risk offsets the advantage of low cost debt. This is the stage wherein the value of the firm is maximum and cost of capital minimum. Third stage Beyond a definite limit of leverage the cost of capital increases with leverage and the value of the firm decreases with leverage. This is because with the increase in debts investors begin to realize the degree of financial risk and hence they desire to earn a higher rate of return on equity shares. The resultant increase in equity capitalization rate will more than offset the advantage of low-cost debt. It follows that the cost of capital is a function of the degree of leverage. Hence, an optimum  capital structure  can be achieved by establishing an appropriate degree of leverage in  capital structure. Net Income Approach This approach states that, the cost of debt and the cost of equity do not change with a change in the leverage ratio(when D/E changes), due to which it is observed that there is a weakening in the cost of capital as the leverage increases. The cost of capitalcan be calculated by the use Net income approach; weighted average of cost of capitalcan be explained by the following equation; http://lh6.ggpht.com/cemismailsezer/R4_ZkNJ-ThI/AAAAAAAAADY/RZYaGVynnUw/image%5B5%5D where: Ko: average cost of capital Kd: cost of debt Ke: cost of equity B: market value of debt S: market value of equity As we know that cost of debt is less than cost of equity (Kd http://lh6.ggpht.com/cemismailsezer/R4_ZlNJ-TjI/AAAAAAAAADo/de5aDk2tbUo/image%5B8%5D The Net Income Approach assembles the investment structure of the firm which has a major influence on the value of the firm. Therefore, the use of control will change both the worth of the organisation cost of capital. Net Income is exploited in approaching the market value that firm possesses. In this analysis Ka decreases when the D/E ratio increases as the proportion of debt, cheaper source of finance, increase in the capital structure vice versa. Assumptions of net income approach the perception of risk is not altered by the use of liability for the investors; as a result, the equity capitalisation rate i.e. ke, and the debt capitalisation rate kd, remain constant with changes in leverage The debt capitalization rate is less than the equity capitalization rate The corporate income taxes are not considered. Numerical example: Assume that a firm has an expected annual net operating income of Rs.2, 00, 000, an equity rate, ke, of 10% and Rs. 10, 00,000 of 6% debt. The value of the firm according to NET INCOME approach: Net Operating Income NOI 2, 00,000 Total cost of debt Interest= KdD, (10, 00,000 x .06) 60,000 Net Income Available to shareholders, NOI I 1, 40,000 Therefore: Market Value of Equity (Rs. 140,000/.10) 14, 00,000 Market value of debt D (Rs. 60,000/.06) 10, 00,000 Total 24, 00,000 Note: The cost of equity and debt are respectively 10% and 6% and are assumed to be constant under the Net Income Approach Ko = Kd (D/V) + Ke (S/V) = 0.06 (10, 00,000/24, 00,000) + 0.10 (14, 00,000/24, 00,000) = 0.025 + 0.0583 = 0.0833 or 8.33% Modigliani Miller (MM) Approach Assumptions of the MM Approach Capital market is perfect. It is so when: Information is freely available Problem of asymmetric information does not exist Transaction cost is nil There is no bankruptcy cost Securities are fully divisible 100% payout ratio Investors and managers are rational Managers act in interest of shareholders Combination of risk and return is rationally chosen Expectations are homogenous Equivalent risk class No taxes Investors can borrow in personal A/C at same terms of firm. Proposition I Value of the form is equal to the expected operating income divided by discount rate appropriate to its risk class. It is independent of capital structure i.e. where, V = Market Value of the Firm D = Market Value of the debt E = Market value of the equity O = Expected Operating Income r = Discount rate applicable to risk class to which firm belongs Proposition I is almost similar to the Net Operating Income Approach. MM used arbitrage argument to prove this approach. MM argues that identical assets must sell for same price, irrespective of how they are financed. Arbitrage Process If the price of a product is unequal in two markets, traders buy it in the market where price is low and sell it in the market where price is high. This phenomenon is known as price differential or arbitrage. As a result of this process of arbitrage, price tends to decline in the high-priced market and price tends to rise in the low-priced market unit the differential is totally removed. Modigliani and Miller explain their approach in terms of the same process of arbitrage. They hold that two firms, identical in all respects except leverage cannot have different market value. If two identical firms have different market values, arbitrage will take place until there is no difference in the market values of the two firms. Example: Let us suppose that there are two firms, P and Q belonging to the same group of homogenous risk. Firm P is unlevered as its capital structure consists of equity capital only Firm Q is levered as its capital structure includes 10% debentures of Rs.10,00,000 According to traditional approach, the market value of firm Q would be higher than that of firm P. But according to M-M approach, this situation cannot persist for long. The market value of the equity share of firm Q is high but investment in it is more risky while the market value of the equity share of firm P is low but investment in it is safe. Hence investors will sell out equity shares of firm Q and purchase equity shares of firm P. Consequently the market value of the equity shares of firm Q while fall, while the market value of the equity shares of firm P will rise. Through this process of arbitrage therefore, the market values of the firms P and Q will be equalized. This is true for all firms belonging to the same group. In equilibrium situation, the average cost of capital will be same for all firms in the group. The opposite will happen if the market value of the firm P is higher than that of the firm Q. In this case investors will sell equity shares of P and buy those of Q. Consequently market values of these two firms will be equalised. Proposition II MM Proposition II states that the value of the firm depends on three things: Required  rate  of return on the firms assets (ra) Cost of debt of the firm (rd) Debt/Equity ratio of the firm (D/E) An increase in financial leverage increases expected Earnings per Share (EPS) but not share prices. Proposition II states that an expected rate of return of shareholders increases with financial leverage. Expected ROE is equal to expected rate of return on assets plus premium. The formula for re is: re = ra + (ra-rd)x(D/E) Implications of Proposition II- rd is independent of D/E and hence re increases with D/E. The debt crosses an optimal level, the risk of default increases and expected return on debt rd increases. Limitations of MM Approach- Leverage irrelevance theory of MM is valid if perfect market assumption is correct but actually it is not so. Firms are able to pay taxes and investors also pay taxes. Bankruptcy cost can be very high. Managers have their own preference of a type of finance. Managers are better informed than shareholders i.e. asymmetry of information exists. Personal leverage is not possible to be substitute of corporate leverage. 100% payout ratio is not possible normally. Analysis of Companies TVS Motors: TVS Motors hold one of the top ten two wheeler manufacturer and number three positions in Indian market, with turnover of $1 billion in 2008-2009 and is the flagship division of TVS group which is of worth $4 billion. TVS Motors manufactures wide range of two wheelers ranging from two wheelers for domestic use to two wheelers for racing. Manufacturing units are located at Housar and Mysore Himachal Pradesh Indonesia Has production capacity of 2.5 million units per year with strength in design and development TVS has recently launched 7 new products. Till now TVS has sold more than 15 million two wheelers and has employed 40000. TVS motor is the only Indian company to win Deming award for quality control in 2002. TVS Network spans over 48 countries. Particulars 2007-08 (in crores) 2008-09(in crores) OPERATING INCOME 45.31 121.08 INTEREST ON DEBT( I) 11.47 64.61 EQUITY EARNING 33.84 56.47 COST OF EQUITY (Ke) 4.13% 4.21% MARKET VALUE OF EQUITY 819.37 1341.33 COST OF DEBT (Kd) 1.72% 7.13% MARKET VALUE OF DEBT 666.34 905.98 VALUE OF FIRM 1485.71 2247.31 COST OF CAPITAL (Ko) 3.05% 5.39% WACC Calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.84) x 0.413 + 0.84/(1.84) x 0.172 = 0.2284 +0.078 = 3.051% For 2008-2009 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(2.11) x 4.21 + 1.11/(2.11) x 7.13 =1.995 +3.750 = 5.75% Hero Honda: Hero Honda Motors Limited is largest and most successful two wheeler manufacturers in India and it is India based. Hero Honda was a joint venture between Hero group and Honda of Japan till 2010 when Honda sold its entire stake to Hero. In 2008-09 Hero Honda sold 3.7 million bikes with 12% growth rate and captured 57% of Indian markets share. Hero Honda Splendor is worlds largest selling motorcycle sold more than 1 million units in 2001-03.C:UsersAAdityaDesktopindex.jpg In December 2010, the Board of Directors of the Hero Honda Group have decided to terminate the joint venture between Hero Group of India and Honda of Japan in a phased manner. The Hero Group of India would buy out the 26% stake of the Honda in JV Hero Honda. Under the joint venture Hero Group could not sell into international markets and the termination would mean that Hero Group can exploit global opportunities now. Since last 25 years the Hero Group relied on their Japanese partner Honda for R D for new bike models. So there are concerns that the Hero Group might not be able to sustain the performance of the Joint Venture alone. WACC calculation: For 2007-08 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.07)x34.73%+0.07/(1.07) x 8.33% = 33% For 2008-09 WACC= weke + wdkd We = E/(D+E) Wd = D/(D+E) = 1/(1.04)x32.41%+1.04/(1.04)x10.20% = 31.55% Particulars 2007-08 (in crores) 2008-09 (in crores) OPERATING INCOME 1201.96 1367.77 INTEREST ON DEBT( I) 13.76 13.47 EQUITY EARNING 1188.22 1354.3 COST OF EQUITY (Ke) 34.73% 32.41% MARKET VALUE OF EQUITY 3421.25 4178.65 COST OF DEBT (Kd) 8.33% 10.20% MARKET VALUE OF DEBT 165.18 132.05 VALUE OF F

Anti-Theme Writing :: Teaching Argumentative Persuasive Essays

Anti-Theme Writing All writers of the world join together and work to banish theme writing from existence. Anyone who can read and write must join together in opposition to the teaching and proliferation of the theme writing disease. Theme writing blocks insight and creativity among the world's population who in striving for an education must be continually oppressed, and denied a very important ability, the ability to think. For hundreds of years the world has been divided into three major classes, the boredwajzee, the studentletariat, and the illiterate. The boredwajzee consists of scholars, teachers, and professors who teach theme writing and continually oppress the other classes by blocking creativity and insight. They instill a fear of failure using the tools of a corrupt grading system that works to promote the writing of the theme. Theme writing takes the personal interest out of education and greatly affects the student striving to fine-tune the ability to think. The education and promotion of writing in theme creates educated students, but students not educated to think for themselves. At a very early age when theme writing is instilled in the minds of our young people it serves the very purposes of the boredwajzee. Taking away a studentà ­s ability to think by promoting theme writing keeps the boredwajzee in power by creating an apathetic student. A student who neither cares to write, nor think s when writing. This promotes stability in our current educational system. A system where the evil tools of grades are used by the boredwajzee to ensure the creation of an educated yet apathetic student who writes only to please the boredwajzee. All the while, unbeknownst to the student, thought and creativity are oppressed and the boredwajzeeà ­s power is preserved. The class of the studentletariat is then molded into the ideal student to ensure the survival of the boredwajzee. The student does not care about what is written as long as it conforms to the basic methods taught by the boredwajzee. The studentletariat at a very early age loses the ability to think and be creative in their education. Ultimately what is created is apathy, a student that does not care to go beyond what is taught. A student who no longer learns for the sake of learning but only does just enough to please the boredwajzee. The studentletariat hold no personal interest in what is learned and therefore the perfect student is molded by the boredwajzee.

“My Bondage and My Freedom”

My Bondage and My Freedom is Frederick Douglass’ second autobiography, written in 1855.   It is important to remember that this work was written before Abraham Lincoln was elected President and before the Civil War. Slavery was becoming a volatile issue in the South and was threatening to split our young nation in two.   Additionally, it is important to remember that while slavery had some supporters in other sections of the nation, it was mainly a Southern issue. This is where the slaves were bought and sold and this is where the plantations depended so heavily on slave labor to be able to produce a product that was then sold and reaped great profits.   White American’s attitude differed depending on where they lived and how close they were to the issue; for the purpose of this paper the focus will be on attitudes in the South. In 1790 all white persons were granted citizenship in the United States.   This indicates how most white people felt about African Americans.   They were seen as, at best, a lower class and, at worst, no better than the animals that helped around the farm; the cows and the horses.   However, in some small towns slaves became part of the family and the family worked alongside their slaves to ensure survival.   This, unfortunately, was not Douglass’ experience.   Douglass writes, â€Å"After the valuation, then came the division.   This was an hour of high excitement and distressing anxiety.   Our destiny was now to be fixed for life, and we had no more voice in the decision of the question, than the oxen and cows that stood chewing at the haymow.† (138) Choices afforded to slaves were few and far between.   They were told where they would work, live, and be.   If they were lucky, they worked in a home where it was warm and relatively comfortable.   If they were unlucky or rebellious they were sent to slave breakers who were considered professionals at breaking the will of slaves who constantly ran or disobeyed their owners.   Douglass writes of his experience with one such man whom he calls Mr. Covey.   â€Å"I was a victim of his violence and brutality.   Such a narration would fill a My Bondage and My Freedom   volume much larger than the present one.   I aim only to give the reader a truthful impression of my slave life, without unnecessarily affecting him with harrowing details.† (170)   As any reader could see, slaves really had no choices.   Little more, yet enough more to make it appealing, were afforded free African Americans in America.   Douglass writes of the isolation of being a free slave, â€Å"For a time, every door seemed closed against me.   A sense of my loneliness and helplessness crept over me, and covered me with something bordering on despair.   In the midst of thousands of my fellowmen, and yet a perfect stranger!† (253) In his life Douglass chose not to give into the helplessness or despair that he writes of.   He chose to speak out and found himself at home with the abolitionist cause.   Douglass was an eloquent orator who constantly strove to bring his people into a different light.   One of his main objectives was to, â€Å"Chang(e) the estimation in which the colored people of the United States were held.† (xxiii)   He would do this through educating himself, through the speeches he gave, through the books he published and through newspapers like the North Star.   It seems he chose to educate rather than violate. The ramification of Douglass’ life and his choices were felt far and wide.   From the early beginnings of the abolitionist movement to the passing of the Fifteenth Amendment, to the eventual de-segregation of schools in the 1950’s, early pioneers of the anti-slavery movement set the wheels in motion for later events. Douglass closes his book by saying, â€Å"I shall labor in the future, as I have labored in the past, to promote the moral, social, religious, and intellectual elevation of the free colored people; never forgetting my own humble origin, nor refusing, while Heaven lends me ability, to use my voice, my pen, or my vote, to advocate the great and primary work of the universal and unconditional emancipation of my entire race.† (300)   His work and his words still continue today.

Prepositions with Enamored

Prepositions with Enamored Prepositions with Enamored Prepositions with Enamored By Maeve Maddox A reader is troubled by the use of enamored by instead of enamored of. (British enamoured). It may be because I read a lot of British literature, but the only usage with enamored that sounds â€Å"right† to me is â€Å"enamored of,† as in Titania’s remark when waking from the spell in A Midsummer Night’s Dream: â€Å"Me thought I was enamoured of an Asse.† However, another preposition is acceptable with enamored, but it’s not by; it’s with. Merriam-Webster gives these examples: tourists were enamored of the town a beautiful Indian girl with whom he was enamoredWalter Havighurst The verb enamor may be used transitively, as in â€Å"Rosamond Vincy enamored Dr. Lydgate.† That means that she affected him in such a way as to make him fall in love with her. More usually, enamor is cast in the passive: â€Å"Dr. Lydgate was enamored of Rosamond Vincy.† Here, the meaning is that he was inflamed with love for her. Paul Brians, an English professor at Washington State University offers this helpful mnemonic: If you’re crazy about ferrets, you’re enamored of them. It is less common but still acceptable to say â€Å"enamored with†; but if you say you are enamored by ferrets, you’re saying that ferrets are crazy about you. I’ll offer my own view as to how one might choose between of and with to use with this verb: Use â€Å"enamored of† when speaking of romantic love: â€Å"Marc Antony was enamored of Cleopatra.† Use â€Å"enamored with† when speaking of mere fascination or interest: â€Å"Charlie is enamored with his new iPad.† As for â€Å"enamored by,† remember the ferrets. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:"Because Of" and "Due To" 8 Types of Parenthetical PhrasesJanuary 1 Doesn't Need an "st"

The Meaning of s.t. or Subject To in Economics

The Meaning of s.t. or Subject To in Economics In economics, the letters s.t. are used as an abbreviation for the phrases subject to or such that in an equation. The letters s.t. proceed important constraints that the functions must follow. The letters s.t. are generally involved in stating relationships between economic functions using the mathematical functions themselves rather than articulating the same in prose. For example, one a common usage of s.t. in economics may appear  as follows: maxx f(x) s.t. g(x)0 The above expression, when stated in or translated into words, would read: The value of f(x) that is greatest among all those for which the argument x satisfies the constraint that g(x)0. In this example, f() and g() are fixed, possibly known, real-valued functions of x. The Relevance of s.t. in Economics The relevance of the use of the letters s.t. to mean subject to or such that in the study of economics stems from the importance of mathematics and mathematical equations. Economists are generally interested in discovering and examining different types of economic relationships and these relationships can be expressed through functions and mathematical equations. An economic function attempts to define observed relationships in mathematical terms. The function, then, is the mathematical description of the economic relationship in question and the equation is one way of looking at the relationship between concepts, which become the variables of the equation. The variables represent the concepts or items in a relationship that can be quantified, or represented by a number. For instance, two common variables in economic equations are  p  and  q, which generally refer to the price variable and quantity variable respectively. Economic functions  try to explain or describe one of the variables in terms of the other, thus describing one aspect of their relationship to one another. By describing these relationships through mathematics, they become quantifiable and, perhaps most importantly, testable. Though at times, economists prefer to use words to describe economic relationships or behaviors, mathematics has provided the basis for advanced economic theory and even the computer modeling that some modern economists now rely upon in their research. So the  abbreviation s.t. simply provides short-hand for the writing of these equations in place of the written or spoken word to describe the mathematical relationships.

Employment Law Coursework Example | Topics and Well Written Essays - 1500 words

Employment Law - Coursework Example Also, the judiciary seems to have laid its focus on the substance of the relationship rather than its form for its characterisation in law. Thus, a mutuality of obligation, together with elements of control, is usually seen as a prerequisite for a contract of employment to exist. However, it is important to understand that all employees are workers but not all workers are employees. There are two main definitions of the term ‘worker’ currently in use and both of them put within their ambit individuals who work/seek to work under either a contract of employment or any other contract providing for personal obligation towards another party. In other words, a worker is anyone, who works for another person (not necessarily under a contract for employment) other than in a professional or business relationship. Thus the different types of workers are as classified by law, and this is bound to have implications for employment rights. This is because; employment rights and responsibilities are based on employment status, and certain rights and responsibility apply only to ‘employees’ rather than ‘workers’. The trend however, seems to be to widen the scope of law by extending legal rights to ‘workers’ and removing dif ferentiation between the two terms. 9 It is fundamental to employment law that one is able to identify the relationship, whether it be that of an employee or worker or self employment or of an increasingly new variety of relationships that are coming up in the contract of employment.10 This is so, because while the legal arrangements involved could be of mutual satisfaction to the parties involved, it might not be well defined, thus making it difficult to categorise for legal analysis.11 Thus, it becomes necessary to analyse the various work relationships, under which it is possible to undertake work and the means through which they can be distinguished in law. These relationships under which, it is possible to undertake work include: I. Employees: The term ‘employee’ is defined in S. 230, ERA.12 The primary requirement is a contract of employment. However, to determine the existence of an employee-employer relationship, it is necessary to look at the control test, organizational test and the mutuality of obligations, along with an obligation of personal service.13 II. Directors: Directors are officers of the company. However, there is nothing to prevent directors from being employees. They can be employees, provided they have a service contract with the company, either express or implied.14 Besides, it is also important to look at the work conditions, mode of remuneration, and other legal requirements.15 However, it would be necessary to note on whether there has been use of the corporate veil to gain undue advantage, and if that has been done, to disallow the status of an employee.16 Thus, the status of a majoring shareholder or a director as an employee is affected, only if the employment contract is a sham.17 III. Business Consultants: It is seen that people who work in an advisory capacity are not always, strictly speaking, employees. Instead, they fall under the term ‘retainers’.18However, depending on the factual and legal arrangements made, a business consultant can be classified as an employee.19 IV. Office Holders: While an employment contract was a requisite to the work described above, a special category exists, who are not employed by virtue of contract of employment, and are known as office holders.20 Examples of such positions would include trustees, police officers, magistrates

Bioprocessing requirements to manufacture a specific product Essay

Bioprocessing requirements to manufacture a specific product - Essay Example In lactic acid fermentation, a single molecule of pyruvate is changed into lactate. In the same process, ethanol and carbon dioxide are also resulting products. This kind of fermentation occurs in muscles of animals when the energy requirement exceeds the oxygen supply. This anaerobic process occurs, providing the organism with the energy required, in an anaerobic manner. Before this process can occur, though, a molecule of glucose has to be split into two molecules of pyruvate. This is a process referred to as glycolysis. In homolactic fermentation, two moles of lactic acid are anaerobically formed from a single molecule of glucose. When lactic acid is produced during fermentation, a racemic mixture of its two isomers is obtained. The L(+) and D(-) isomers will exist in equal quantities. When carbohydrate is fermented, glycolic and lactic acids will be found in the product mixture. This is the simplest form of fermentation. Lactic acid fermentation is a redox reaction that occurs in anaerobic conditions (Dworkin, 2006, 539). Lactic acid fermentation as a process finds use in the food industry since it is used in the production of yoghurt. Milk is fermented with bacteria that are harmless, mainly Streptococcus thermophilus and Lactobacillus bulgaricus. Milk is used as the culture in this process. When the pH of the milk is decreased, it congeals. The bacteria are responsible for producing compounds that give the resultant product the distinctive taste of yoghurt. By lowering the pH, the conditions become unfavourable for harmful bacteria, making this process effective. This process also finds use in producing sauerkraut. This process utilizes genus Leuconostoc (Dworkin, 2006, 541). In lactic acid fermentation, the product will be dependent on the strain of microbe used. The strain of microbe that is used for fermentation will influence the stereo-specificity of the product. The