Barack Obama`S Speech Analysis Free Essays

Christianity On-line Essay -- Personal Narrative Communities Essays

Christianity On-line On-line networks are an outside idea to me. I have never gone along with one, or even been interested to perceive what they resemble. The main experience I have had with them is in center school when I used to go into visit rooms and converse with different youngsters. The main discussion required there was about music and motion pictures. It has been a very long time since I have wandered into anything on-line with the exception of checking my email or downloading music. So as to expound on-line networks, the task given to the class I am in, I needed to go on-line and investigate the way of life myself. Since I had no clue what server to utilize or what locales were famous, the assignment was a bit of overwhelming. The main thing I took a gander at was The Lost Library of Moo , a webpage I went to on the grounds that it was an asset instrument recorded on the Website for my English class. We had taken a gander at it once before in class to work on exploring it. The main thing I got from the site was that the photos were pretty and fascinating. I didn't comprehend the reason for it or how to mess around that were accessible. In any event, perusing the presentation and synopsis of what the site was about befuddled me. It discussed making action words written in the language of Moo and computer generated reality. The idea of Moo had never been plainly disclosed to me, so attempting to make sense of the site all alone was not getting me anyplace. The site is classified as a MUD or MOO, which is intended to be an instructive apparatus. I was getting debilitated in light of the fact that I was unable to try and comprehend the headings. The site additionally discussed marking on to the server and bei ng a character. I didn't have the foggiest idea how to move a game; making a character for it was not in any case a possibility for me. Since I was absolutely l... ...way. It is simple for individuals with regular interests to meet and trade sees. An individual can slice through typical casual conversation that is included when first gathering another person, and pose direct inquiries about the subject known to be critical to them two. On-line networks offer a feeling of having a place immediately. That is the reason Christianity or any religion frequently gets famous destinations with dynamic conversation sheets. A point that is painstakingly worded to be politically right when discussed face to face, can be talked about honestly when utilizing a screen name. It permits individuals to be agreeable enough to share their emotions and show their numbness without stressing over repercussions. I support on-line conversation sheets, despite the fact that it detracts from eye to eye association, something that is fundamental when constructing a strong relationship with someone else.

Tips For Writing Essays

Tips For Writing EssaysThere are a number of different types of essay topics that are available for students to write and submit to the English department at their college or university. In order to take the best advantage of these topics, there are some tips that are needed to get through them. These tips can also help you make a good and smooth transition into writing.The first tip that is required to get through all of the essay topics for the different subjects is to understand the theme that the essay is going to discuss. You can do this by looking at the subject matter that the topic falls under. Students who are interested in being writers should be very familiar with the subject matter of the essay. Once they know about the subject matter they will be able to see how they can integrate that knowledge to the topic of the essay.Students should also consider what other writing is out there that may be related to the topic of the essay they are writing. They can search for that i nformation on the Internet. This will allow them to gain further insight as to what is in demand for the essay topic they are writing on.The second tip is to have an idea of what type of the essay topic that they want to write. You can use the information that is out there in order to see what is needed to write a good piece. Some topics require more research and other topics only require writing and content. Both are important.There are many different types of essay topics for students to choose from. Students can choose from writing on specific periods in history such as in Shakespeare's time. They can also choose to write on the current topic of the world economy.Students can also choose from learning how to write a biography or studying class material for the test. Many students will choose the topic of the essay that they are most comfortable with. Students can also choose to write on their own if they feel that the topic of the essay is not right for them.The final tip for stu dents to get through all of the essay topics is to keep in mind that it is not always necessary to be writing for their college or university. There are many companies that are looking for individuals to write for them. These companies offer benefits such as a higher rate than an individual would get for writing for someone else.If students have an interest in writing for a company, they can find many different subjects that they are interested in and get started on their first assignment. They can then move on to the next one once they start getting work. They can continue to do this and get to work for companies while they are in school.

ERP Implementation for OilCo and ExplorerCo

Question: Discuss about the ERP Implementation for OilCo and ExplorerCo. Answer: Introduction: The enterprise resource planning system is considered as the digital infrastructure that consists of various devices that work simultaneously and collaboratively for achieving organizational objectives (Chatzoglou et al. 2016, p. 1245). The integration of ERP system within an organization is done by following various phases. The report especially holds the various reflections of OilCo and ExplorerCos enterprise resource plannings implementation phase. In addition to that, the evaluation of both the systems in terms of success criteria of the OilCo and ExplorerCo is available in the report. The report also suggests some processes that can be followed to avoid the issues. Parr and Shanks (2000, p. 290) stated that over budgeting and time was the main concern of the OilCo. Although after facing various issues, the project manager made the project successful. Major implementation issues in ERP projects: Budget and Deadline: In terms of ERP 1, the project extended the proposed amount of budget and time. The project manager could not get the adequate information regarding the requirement of all the organizational processes (Ahmad Cuenca 2013, p. 107). This issue needed to be resolved in the planning phase. This issue pushed the deadline of the project further. The project manager additionally forgot to calculate and present the information of the hidden cost of the project to the owners of the project (OilCo.) (Supramaniam, Abdullah Ponnan 2014). During the implementation, this forced the project to demand additional cost for the implementation. The OilCo made a mistake in choosing the functionality of the system. The project manager forced the process to be relevant to the software functionalities instead of choosing the functionalities relevant to the processes (Ram, Wu Tagg 2014, p. 667). Decision Making: Parr and Shanks (2000, p. 290) opined in Table 4-4 that empowered decision makers are essential for the successful implementation. ExplorerCo took the advantage of experience of ERP 1 project but forgot to provide the powers to the project team members to take quick decisions. The similarities and differences between the implementation of OilCO and ExploreCO: It is quite clear that both the organization OilCO and ExploreCo has come differences as well as similarities in context with ERP implementation. If the companies were compared in terms of similarities, then both organization have adopted critical factors of success in order to achieve their goals and objective (Bernroider, Wong Lai 2014, p. 357). The company does not modify the software much, and the changes that have gained are only in the field of business processes. The organizations change their processes of business in order to achieve integrated as well as automated system, for improving the service of the customers and for facilitating planned process of restructuring for the business of the organizations (Bintoro et al. 2015, p. 244). Now in terms of differences OilCO utilizes the development of a module which was totally specific to the industry of oil and the ERP implementation of the company is very much board whereas ExploreCO ERP implementation is driven by OilCO s hea d office. It is analyzed that the OilCOs project champion does not maintain proper continuity while the champion of the ExploreCo follows different approaches of hands-on (Ram, Wu Tagg 2014, p. 667). Both the organization's grading system differs a lot, and ExploreCO has a better quality of employees as compared to OilCO. ExploreCO is quite capable of meeting the deadlines, and they have a strong project management, which is considered as one of the significant points in the implementation of ERP system. The lower inventory system is hel0ful for both the organizations as it helps in lowering the different types of manual process and helps in improving the inventory system (Hwang Park 2014). The OilCO have an objective to maximize to have better sales forecasting, to have fully integrated as well as automated delivery as well as ordering system and for gaining different types of streamlined processes of business whereas ExploreCO have planned to implement the ERP system for having Go Live system within 11 months (Rajnoha et al. 2014, p. 167). The project of ExploreCO has been completed on time and within the estimated budget but the project of OilCO was significantly very much over budget and the time required is very much as compared to the estimation. OilCO has estimated the sales properly whereas ExploreCO has performed the cost analysis properly for implementing the ERP system. ExploreCO made different types of recommendations and provided techniques of leadership to the steering committee (Salimi, Dankbaar Davidrajuh 2015, p. 8). Project Success Criteria: Yes, the project was successful. It is analyzed that ExploreCo has attached different levels of insignificant customization as well as informed date however in context with testing storage they are in the middle. The organization completed their entire work 2 weeks earlier than their due date. It is identified that ExploreCo utilizes basic through the entire project whereas OilCO uses basic only for arranging, improving and for setting up the project properly. Both the organization OilCO and ExploreCO has same CSF but ExploreCO utilizes a structure as well as procedure for achieving their goals and objectives (Alturkistani et al. 2014, p. 203). OilCO does not follow any proper structure or procedure for completing their project. It has been identified that both the companies have some additional as well as impressive characteristics and features in the CSF for arranging deliverable dates as well as for having negligible customizations (Matende Ogao 2013, p. 525). The projects were effective in light of the fact that they both experienced the correct execution handle and also the enunciation of critical success factors. Both OilCo and ExplorerCo contain similar critical success factor. However, those success factors differ in that ExploreCO imagined a process and framework with a particular objective for encouraging its achievement, a project supporter was required (Sadrzadehrafiei et al. 2013, p. 222). Each project team personnel were given illustrated compulsions. OilCo was not officially recognized and the personnel in the aspect altered additional minutes. There were no activity and framework was passed on. Within the instance of critical success factors between the both OilCo and ExplorerCo, the existence of variety could be found. Both the project (Project 1 and Project 2) accepted an approach of unimportant alteration and deliverable engagements. OilCO was forced to charge an oil industry-specific component. Irrelevant customization and expressed dates amid the testing stage of was present in the system implementation of ExploreCO (Hidayanto et al. 2013, p. 1777). It was produced to be not allowed to the consumers. Through guiding by this path, the organizations got weeks past their proposed deadline. OilCO management support was just fundamental in setup, arranging and upgrade. ExploreCO management support was fundamental throughout all the activities of the execution phase. Lessons Learned: By observing the case studies of OilCO and ExploreCO we can learn several lessons that can be used by the other organizations in order to implement an ERP solutions in the organization. In implementing an ERP package, the companies considered some critical success factors which are the foundation of success of the implementation of ERP package. This includes strong leadership, strong change and project management, user participation, ease of interface customization of the ERP package and selecting the proper ERP package architecture. Furthermore, OilCO could have improved the whole project performance by the selection of the suitable system architecture (Parr Shanks 2000, p. 290). This process could have helped them in eliminating the requirement of developing a new oil industry module in the ERP system that incurred an extra amount of investment. As both the companies in the given case study implemented the ERP systems to improve the flow of business and other relevant informations therefore, for the future projects the companies can think about implementing the ERP packages on the cloud. This will be helpful in improving the availability and accessibility to the information. Furthermore, the one of the most important factor in the success of the ERP implementation process is the change management; therefore, it is advised to manage the whole process sensitively. The reason behind this can be stated as due to the implementation of the newer information system in the organization will diminish as well as introduce newer responsibilities in the organization. In his kind of projects Change management plans must be conceived as an important part of the whole project in order to achieve the end goal to deliver workforce move to the newly implemented ERP framework and to identify the end-users and the trainer at the end of the impl ementation. An exhaustive training methodology ought to consider the location and culture of the industry and testing before going live and used by the end users. Neglecting the importance of a completely build training technique can have genuine ramifications on the accomplishment of a worldwide ERP execution. Intensive training program is considered as the factor that makes deference between end user acknowledgement of the implemented system and end user concern about the system. In most of the cases, organizations regularly avoid the training programs in the interest of cost saving for the project. This cut down in the budget doing as such can be negative to the achievement of objectives of the ERP implementation project and send a negative message to employees of the organization. It is critical that clients/end users of the system comprehend both the "how" and "why" of the ERP solution. Data migration process is another issue that must be considered before going live with the newly implemented system. In order to maintain the integrity between the previously collected data the data from the manual system must be migrated using proper strategy so that the migration process should not affect the business and other operations in the transition phase. Recommendations: Implementation: At the time of the implementation phase, all the possible impacts of the project needs to be communicated to the entire stakeholders in order to keep all the information regarding the activities up to date. The project team must be stick to the pre-identified plan so that additional cost of the project can minimized. In terms of adoption and providing little ownership, end-users must be involved in the implementation phase. Focusing on significant requirements: Proper documentation of the requirements is inevitable for concentrating on primary requirements. This allows the project manager to be more project centric and avoid any issues regarding the missing-functionality or requirement in the future. Internal project management organization: A strong internal organization of the project management is capable of managing scope of the project adequately. Many consider this team as the key of successful project impanation. Through this, an organization can save a lot of time. Conclusion: From the above study, it can be concluded that the ERP implementation is not always prone to failure. However, many severe issues may have to be faced by the project manager in terms of implementing the system. The project manager must be relevant and skilled for carrying out all the activities of a implementation project successfully. ExplorerCo chose to implement a new system over the decision of upgrading the existing one. The collaboration of the systems got a huge impact from this decision. It is because, there may have some technical aspects in the existing system of ExplorerCo that could have created anomalies in system functions while communicating with the ERP of OilCo. Both the organization got positive outcome from the implementation. The biggest benefit was automated delivery and ordering process and less off-system payments for OilCo and ExplorerCo respectively. The project manager kept the challenges he/she faced during ERP 1 project and guided the ERP 2 project accordi ngly. This allowed the manager to implement the system within budget and time. Reference List: Ahmad, MM Cuenca, RP 2013, Critical success factors for ERP implementation in SMEs,Robotics and Computer-Integrated Manufacturing,vol. 29, no. 3, pp.104-111. Alturkistani, A, Shehab, E, Cranfield, C Al-Ashaab, A, 2014. CHALLENGES OF DEPLOYING LEAN PRINCIPLES IN MANAGING ERP IMPLEMENTATION.G TEC H N O LO, p.203. Bernroider, EW, Wong, CW Lai, KH 2014, From dynamic capabilities to ERP enabled business improvements: The mediating effect of the implementation project,International Journal of Project Management,vol. 32, no. 2, pp.350-362. Bintoro, BPK, Simatupang, TM, Putro US Hermawan, P 2015, Actors interaction in the ERP implementation literature,Business Process Management Journal,vol. 21, no. 2, pp.222-249. Chatzoglou, P, Fragidis, L, Chatzoudes, D Symeonidis, S 2016, Critical success factors for ERP implementation in SMEs, InComputer Science and Information Systems (FedCSIS), 2016 Federated Conference on, pp. 1243-1252, IEEE. Galy, E Sauceda, MJ 2014, Post-implementation practices of ERP systems and their relationship to financial performance,Information Management,vol. 51, no. 3, pp.310-319. Hidayanto, AN, Hasibuan, MA, Handayani, PW Sucahyo, YG 2013, Framework for measuring ERP implementation readiness in small and medium enterprise (SME): a case study in software developer company,Journal of computers,vol. 8, no. 7, pp.1777-1782. Hwang, HJ Park, YJ 2014, Kazakhstan Perspectives on ERP System Implementation,development,8(4). Matende, S Ogao, P 2013, Enterprise resource planning (ERP) system implementation: a case for user participation,Procedia Technology,vol. 9, pp.518-526. Parr, A Shanks, G 2000, A model of ERP project implementation,Journal of information Technology,vol. 15, no. 4, pp.289-303. Rajnoha, R, Kadarova, J, Sujova, A Kadar G 2014, Business information systems: research study and methodological proposals for ERP implementation process improvement,Procedia-Social and Behavioral Sciences,vol. 109, pp.165-170. Ram, J, Wu, ML Tagg, R 2014, Competitive advantage from ERP projects: Examining the role of key implementation drivers,International Journal of Project Management,vol. 32, no. 4, pp.663-675. Sadrzadehrafiei, S, Chofreh, AG, Hosseini, NK Sulaiman, R 2013, The Benefits of Enterprise Resource Planning (ERP) System Implementation in Dry Food Packaging Industry,Procedia Technology,vol. 11, pp.220-226. Salimi, F, Dankbaar, B Davidrajuh, R 2015, A Comprehensive Study on the Differences between MRP and ERP implementation,Communications of the IIMA,vol. 6, no. 1, p.8. Supramaniam, M, Abdullah, A Ponnan, R 2014, Cost Analysis on ERP System Implementation amongst Malaysian SMEs,International Journal of Trade, Economics and Finance,vol. 5, no. 1, p.72.

Working in the global economy an Example by

Working in the global economy During the early 1970s the temporary agencies were only really visible in the US, and the European markets of the UK, France and the Netherlands. The industry has now become truly international. Estimates suggest it is now worth some US $120 billion annually. (Staffing Industry Analysts, Inc, 2003). The development of temporary agencies forms an integral part of these new dynamics of labor market regulation. Growth of multi national investment in the 1990s and the entrance of one or two multi national agencies created the conditions for agency business to expand slowly in the absence of formal legal recognition. Need essay sample on "Working in the global economy" topic? We will write a custom essay sample specifically for you Proceed Temporary agencies are increasingly playing a systematic macro regulatory role in the US labor market, where they now account for a big share of costs of labor market adjustment. Temporary agencies development is closely linked with the wider restructuring of the US economy where it has assumed a significant presence as a low cost flexibly mediated labor. During the last thirty years, the temporary agencies have moved from the role of staffing provider, supplying short term cover for eventualities such as seasonal spikes and maternal leaves in demand. They now have a more systematic and continuous function, mediating between companies personnel offices and their preferred labor suppliers across an increasingly broad array of industries and occupations. Temporary agencies ability to embed themselves in the labor market has been remarkable so that now it can be seen as a sign of flexibility not just at the micro level (meeting the needs of individual enterprises), but also at the macro level mediating socio-economic risks ad macro economic pressures across the labor market as a whole. Some employers have turned to temporary staff agencies to source workers for high-turnover or undesirable jobs such as assembly, loading and packing which demand physical work). Others utilize temporary workers as a recruitment and screening pool for permanent employees as is often the case now in clerical labor market. The form and rationale of temporary employment relationships therefore vary significantly; they range from the large-scale deployment of replaceable day-laborers in construction and manual service work through to few assignments of professionals with unique skills set in fields such as IT and healthcare (Melchionno, 1999). Standing between employer and the employee, staffing agencies have assumed important, third party roles in screening, recruitment, placement and reassignment in job design, in supervision and labor control and in the structuring of remuneration and incentive systems. By this they shield firms from regulatory costs, such as exposure to workers compensation claims or unemployment insurance, while also denying temporary workers benefits such as health insurance and pension entitlements. There is strong evidence in the historically dislike pattern of the employment restructuring around the 2001 recession that temporary agencies are beginning to register significant economy wide effects. They performed a shock absorber function enabling businesses to externalize the costs of economic fluctuations and regulatory risks. They absorb all the employment related costs of a cyclical downturn, thereby preventing the need to lay off permanent employees. Employers are adding temporary workers well in advance of permanent employees. They are also making flexible employment strategies a central elongated process of workforce adjustments which include adding workers employed on temporary contracts while continuing to shed permanent employees. It seems that the temporary agencies no longer perform a benign and marginal function, as a leading indicator of wider labor-market conditions. Increasingly, it is implicated in establishing and maintaining these conditions. Over the years the temporary agencies have evolved from small scale service providers; located in a handful of large and industrial and major administrative centers, to diversified business sector, offering a various services in competitive markets across the country. They can now be regarded as a stable component of the regulatory infrastructure of the labor market. As a result, the temporary option is now factored into hiring and human-resources decision, in ways that would be unthinkable in the 1970s (Silber 1997 Lenz, 2004) Temporary agencies with their characteristically narrow margins and low barriers to entry, has been enabled to wean itself away from the high volume business model. Download pressure on billing rates makes the service increasingly attractive to employers, but also places stubborn limits on the remuneration of temporary workers. As employers continues to use temporary agencies as part of ongoing recruitment and cost entertainment policies there are serious consequences on systems of social protection and insurance (Peck and Theodore, 2002). It is possible to observe some common trends, such as the tendency for young people in particular to be employed as temporary workers, as they enter very different types of labor market to that which their parents entered a generation ago. There are countries with no data on temporary agencies as most they remain unregulated. For example in Czech Republic and Poland, where legislation was introduced in 2004 that for the first time recognized temporary agencies, there is no data on them and the workers they place. Temporary agencies are here to stay and will continue to affect the flow of labor markets between countries and in essence affecting the global economy. References Grabelski, J (2001). Temporary employment agencies: strategic challenges ahead, NEIS E- Bulletin 17, Washington DC: New Economy Information Service. Segal, L and Sulliram, D (1997).The growth of temporary services work. Journal of Economic Perspectives. Vol.11 pg177-36. Theodore, N and Peck, J (2002). The temporary staffing industry; growth imperatives and limits to contingency, economic Geography, Vol. 78 Pg 463-93.

Theoretical Issues in the Horror Film Halloween essays

Theoretical Issues in the Horror Film Halloween essays In this essay, you are required to discuss any (one) of the topics covered in the module, and demonstrate how such a theoretical paradigm informs an understanding of a particular horror film of your choice, but not one already on the module or that you chose for your first essay. Obviously, this essay requires greater evidence of secondary reading, but it should not ignore some textual analysis in order to demonstrate the theoretical principles you are highlighting. There are many different issues and theories surrounding the study of the horror genre, and in order to gain a greater level of understanding of the genre one must analyse all of these different elements thoroughly. Such topics which warrant discussion are genre, and the sub-genres associated with it, its audience, issues of gender, sexuality and representation, structural and narrative approach, aesthetic values, etc. Obviously an essay discussing all of these elements in depth would be huge, so in the following essay I aim to look mainly at gender, sexuality and sexual representation in John Carpenters Halloween (1978). I will also outline briefly some of the other issues which warrant discussion, and relate them to my chosen film, looking in slightly more detail at the different sub-genres present in horror, with an aim to highlight their conventions and place 'Halloween' into one of those sub-genres. The reason that I chose 'Halloween' for analysis, quite apart from the fact that it is one of my favourite horror films, is that it is an effective choice as an example of how (especially 80's) horror films represent women. The film is also a favourite among theorists in both categorisation and conventions of the horror genre, and gender issues in film. So there is plenty of available reading and research available to me, making it an ideal choice for analysis. 'Halloween' was shot in 1978 by John Carpenter, on a relatively small budget of $130,000. It is seen by m...

3rd Grade Science Fair Projects

3rd Grade Science Fair Projects The 3rd grade may be the first time students are introduced to science fair projects. Children ask questions from a young age, but this is a great time to begin to apply the scientific method. Introduction to 3rd Grade Science Fair Projects 3rd grade is a great time to answer what happens if... or which is better...  questions. In general, elementary school students are exploring the world around them and learning how things work. The key to a great science fair  project at the 3rd-grade level is finding a topic that the student finds interesting. Usually, a teacher or parent is needed  to help plan the project and offer guidance with a report or poster. Some students may want to make models or perform demonstrations that illustrate scientific concepts. 3rd Grade Science Fair Project Ideas Here are some project ideas appropriate for 3rd grade: Do cut flowers last longer if you put them in warm water or in cold water? You can test how effectively flowers are drinking water by adding food coloring. Youll get the best results with white cut flowers, such as carnations. Do flowers drink warm water faster, slower, or at the same rate as cold water?Does the color of your clothing affect how hot or cold you feel when youre outside in the sunlight? Explain your results. This project is easiest if you compare solid colors, such as black and white t-shirts.Do all students in the class have the same size hands and feet as each other? Trace outlines of hands and feet and compare them. Do taller students have larger hands/feet or does height not seem to matter?How much does the temperature have to change for you to feel a difference? Does it matter whether its air or water? You can try this with your hand, a glass, a thermometer, and tap water of different temperatures.Are waterproof mascaras really waterproof? Put some mascara on a sh eet of paper and rinse it with water. What happens? Do 8-hour lipsticks really keep their color that long? Do clothes take the same length of time to dry if you add a dryer sheet or fabric softener to the load?Which melts faster: ice cream or ice milk? Can you figure out why this might happen? You can compare other frozen treats, such as frozen yogurt and sorbet.Do frozen candles burn at the same rate as candles that were stored at room temperature? Ideally, compare candles that are identical in every way except their starting temperature.Research what dryer sheets do. Can people tell the difference between a load of laundry that used dryer sheets and one that didnt use them? If one type of laundry was preferred over the other, what was the reason? Ideas might be scent, softness, and the amount of static.Do all types of bread grow the same types of mold? A related project would compare types of mold that grow on cheese or other food. Keep in mind mold grows quickly on bread, but might grow more slowly on other food. Use a magnifying glass to make it easier to tell the types of mold apart. Do raw eggs and hard-boiled eggs spin the same length of time/number of times? What type of liquid will rust a nail the quickest? You could try water, orange juice, milk, vinegar, peroxide, and other common household liquids.Does light affect how fast foods spoil?Can you tell from todays clouds what tomorrows weather will be? Tips for Success Choose a project that wont take too much time to complete. Performing an experiment or making a model often takes longer than one expects, and its better to have extra time than to run out at the last minute.Expect a 3rd-grade project to require adult supervision or help. This doesnt mean an adult should do the project for a child, but an older sibling, parent, guardian, or teacher can help guide the project, offer suggestions, and be supportive.Select an idea that uses materials you can actually find. Some project ideas might look great on paper, but be difficult to perform if the supplies are unavailable.

Stop Online Piracy Act (SOPA) Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Stop Online Piracy Act (SOPA) - Research Paper Example t services from carrying out business with the offending websites and search engines links to sites, and court orders demanding suppliers on the Internet to disallow accessing sites. The bill would expand the criminal law to consist of the unauthorized transmission of copyrighted material, setting a maximum penalty of 5 years imprisonment2. The bill has grave implications for the current structure of the Internet in every sense as it allows the Justice Department and the owners of intellectual property, obtain court orders against those sites or services that allow or facilitate the infringement of alleged copyright, including: The bill declares a criminal offense to unauthorized radio broadcast or other distribution of copyrighted content with the punishing of the guilty with the maximum penalty of imprisonment for a term of 5 years. At the same time immunity from prosecution vested all Internet companies that voluntarily and on their own initiative took any action against the online service, dealing with the spread of protected content, while making these companies liable for damage to their site owners charged with illegal distributing content. Under the bill, any member of a network on the Internet – from service providers, search engines and even the advertisers – in fact, require treatment for any owner to stop providing services to the resource, accused of piracy, and to stop any interaction with them (for example, close the channel, pay for content, suspend the ad contract, to limit the effect of the payment system, delete the site from Google to remove links to the site, completely block a site to visit, to prohibit the payment systems (such as PayPal, Visa, etc.) to make payments in favor of services and so on); otherwise, any of the direct and indirect accused of counterparties site will be regarded as his partner. Under the eyes of this new law, merely to get on your wall a picture, document or video that has a copyright will be considered a

Risk Involved in Foreign Direct Investment Essay

Risk Involved in Foreign Direct Investment - Essay Example Telecommunications Regulatory Commission (TRC) is responsible in regulating the telecommunications sector. The political aspect is also explored as it is the political system that drafts the rules that outline how business operations are run. In conclusion, I argue that multinational companies need to strike a consensus with the Sri Lanka government in reference to regulatory conditions. As it will become clear in this paper, the role of multinational corporations in the development of economies cannot be underestimated. However, some risks for example those related to the political aspect of governance may prove to be a big obstacle to multinational corporations seeking to invest in Sri Lanka. It is on this basis that this paper comes up to consider the response options available to multinational corporations that operate in the country. Through the use of questionnaires, data relating to the operation of multinational corporations and the risks involved is collected. Through the use of statistical means the data is compiled and analysed. The study finds out that indeed there are political and regulation risks that define operations of multinational corporations in Sri Lanka. This regulation becomes a critical aspect as the rules and regulations are not applied across the board. Through the use of econometric analysis, it is found that political and regulation risks are statistically significant as they influence investing patterns. The small inflow of FDI indicates the response by MNCs towards such regulation. It is however proposed in this paper that the firms should respond by negotiating with governments rather than such withdrawals. It is concluded on the basis of the findings that there indeed exist a connection between political and regulation risks and operations of MNCs in Sri Lanka (Akram 2003).

Slavery and Human Decency :: American America History

Discrimination is very old in its origins. From the earliest periods of human existence, groups developed prejudices toward others and then discriminated against those whom they regarded as different or inferior. Many attempts were taken to maintain or increase power, prestige, or even wealth; groups found it easy to invent or accept the idea that others were somehow inferior to them and thus not deserving of equal treatment. Among the many differences that could be used as a basis for discrimination, people quickly discovered that physical appearance was the easiest to identify. It required no subtle analysis, no careful contemplation, but only a superficial glance at those visual features that would later be used to identify "race". The shape of one's nose, color of one's hair, or even the color of one's skin describes the universal nature of what we now call racial consciousness. Slavery is a perfect example. Racial animosity grew in both the North and South, and in many instances led to physical violence. The era of slavery should have been called the era of inhumanity. Slavery was inhumane, barbaric, and ultimately disgusting. In 1800 the population of the United States included 893,602 slaves, of which only 36,505 were in northern states (Phillips 18). Slaves were treated as if they were a piece of meat. The defined characteristics of slaves are as follows, " their labor or services are obtained through force; their physical beings are regarded as the property of another person, their master; they are entirely subject to their master's or owner's will" (Phillips 17). Slave life according to historians has never been and will never be classified as a so-called idyllic experience. There was little in the way of recreation and other forms of entertainment to pass the time. It must be remembered that, slaves had no time they could call their own. Rarely did slaves get any "free time" at all, but when they did it was spent recuperating from long sixteen-hour workdays. Most slaves were no t well taken care of. Many slaves went for days without eating, and in turn this caused their work pace to slow. According to Collier, plantation slaves worked sixteen-hour days in the summer, and were only given three pounds of bacon or pork and roughly twelve quarts of cornmeal a week (26). Many slave owners or overseers would peruse the plantations and lash out at any given slave particularly because they simply weren't working hard enough.

Ebay’s Strategy in China: Alliance or Acquisition Essay

In December 2006, eBay Inc., a US company that offered e-commerce, e-payments and internet communication services globally, announced its plan to form a joint venture with China-based online portal and wireless operator, TOM Online, in which eBay would have 49% ownership.1 The move reflected the increasing difficulties foreign internet companies were facing in their attempts to snatch a share of the Chinese market amid fierce competition and a changing market environment. eBay first set foot in China in 2002 by acquiring 33% interest in EachNet—a domestic online auction company, followed by a full acquisition in 2003.2,3 In 2005, eBay acquired Skype4 to expand into the online communication sector. While Skype was a wholly owned subsidiary of eBay globally, it operated indirectly in China via a joint venture with TOM Online. Due to this existing relationship between the two companies,5 TOM Online seemed to be a natural choice of partner for eBay’s subsequent decision with regards to its online marketplace business. Recognising TOM Online’s local knowledge and political connections, eBay believed that a joint venture would benefit its failing business in China and help the company further develop its Chinese market.6 Some analysts questioned whether political connections alone were the answer and suggested that eBay focus on its product and service offerings.7 1 Vara, V. and Chao, L. (20 December 2006) â€Å"EBay’s China retreat highlights a tough market†, Wall Street Journal. eBay (Date Unknown) â€Å"eBay and EachNet Team Up in China†, Press Release, http://investor.ebay.com/releasedetail.cfm?ReleaseID=74802 (accessed 27 April 2007). 3 After the full acquisition in 2003, eBay operated under the name of eBay EachNet. 4 Skype is a peer-to-peer software program that allows people to make free calls over the internet to anyone who also subscribes to this service. Skype provided peer-to-peer internet telephony service—ie, instant messaging and online telephone service. In 2005, eBay acquired 49% stake in Skype China, with TOM Online owning the rest. Source: Schwankert, S. (20 December 2006) â€Å"EBay to replace Chinese auction site with JV†, ITworld.com, http://www.itworld.com/Tech/2403/061220ebay/ (accessed 27 April 2007). 6 Bradsher, K. (22 December 2006) â€Å"With TOM Online, eBay gains Chinese clout†, International Herald Tribute. 7 Rein, S. (24 December 2006) â€Å"TOM Online Must Focus on Products: Connections Don’t Ensure Success†, SeekingAlpha, http://china.seekingalpha.com/article/22946 (accessed 20 June 2007). 2 Isabella Chan prepared this case under the supervision of Prof. Zhigang Tao and Dr Jiangyong Lu for class discussion. This case is not intended to show effective or ineffective handling of decision or business processes. This research was partially supported by a grant from the University Grants Committee of the Hong Kong Special Administrative Region, China (Project No. AoE/H-05/99).

Comparing the Iroquois Constitution and U.S. Constitution...

Comparing the Iroquois Constitution and U.S. Constitution The Constitutions of both the Iroquois and the United States have similarities and differences between them. The Iroquois constitution came earlier in history than the U.S one did. Some of the same ideas that were in the Iroquois’ constitution were carried over to some of the ideas that we use in our government today. In this paper I will compare and contrast these ideas as they relate with one another. Ideas like Vito Power, When a Leader Gets Sick, 3 Branches of Government, A Bicameral Legislature, and impeachment are portrayed in both of these constitutions. The power to veto something is defined as to refuse to admit. In the Iroquois constitution they talk about†¦show more content†¦The Fire Keepers had the power to veto any decision that the lower levels had made just as the president does in our government. In America’s government if the president gets sick or ill where he/she cannot fulfill his/her responsibilities then their spouse takes over for t hem until they are able to return to office. In the Iroquois constitution it states in article 21 that certain physical defects in a Confederate Lord make him ineligible to sit in the Confederate Council. Such defects are infancy, idiocy, blindness, deafness, dumbness and impotency. When a Confederate Lord is restricted by any of these conditions, a deputy shall be appointed by his sponsors to act for him, but in case of extreme necessity the restricted Lord may exercise his rights. The Iroquois would appoint a deputy if the Lord had specific defects. The Division of government for America is divided up into the Judicial, Executive, and Legislative Branches. In the Iroquois constitution it also splits up the Mohawk Council into three parties: the Tekarihoken, Ayonhwhathah and Shadekariwadeare the first party; Sharenhowaneh, Deyoenhegwenh and Oghrenghrehgowah are the second party, and Dehennakrineh, Aghstawenserenthah and Shoskoharowaneh are the third party. The Purpose of the third party is to monitor what the first and second parties are discussing to make sure they don’t make any mistakes. The way that there are 3 parties in the IroquoisShow MoreRelatedEssay about U.S. Constitution vs. Iriquois Constitution784 Words   |  4 PagesTim Nelson 10/05/01 Honors English Period 2 Compare Contrast: Iroquois Constitution U.S. Constitution The Constitutions of both the Iroquois and the United States have similarities and differences between them. The Iroquois constitution came earlier in history than the U.S one did. Some of the same ideas that were in the Iroquois constitution were carried over to some of the ideas that we use in our government today. In this paper I will compare and contrast these ideas as theyRead MoreCompare and Contrast of the Oneida and Cherokee Indians2354 Words   |  10 Pagesthe list of Wisconsin Native American tribes, I, unlike most of the class, had no idea what they were. I chose the Oneida tribe because my former youth pastor works at the Oneida Reservation. I look forward to learning about the Oneida tribe and comparing them with the Cherokee tribe. The Oneida reside in DePere, Wisconsin. There are about 12,000 registered Oneida members in Wisconsin. Only about 2,500 people live on the actual reservation and another 2,500 live in the surrounding areas. The Oneida

Why People Blame Cds For Recent Financial Crisis Finance Essay - Free Essay Example

Sample details Pages: 15 Words: 4400 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? This briefing paper provides background on the derivatives markets and their role in the financial crisis, evaluates aspects of the main reform proposals and whether or not these reforms should be implemented. One of the least understood but potentially among the more damaging factors contributing to the crisis in global financial markets is an asset class known as over-the-counter (OTC) derivatives and one OTC product in particular known as credit default swaps or CDS. Indeed, even were there not multiple financial market crises underway, reforming the CDS market would still be an urgent problem. Warren Buffett famously described CDSs as weapons of financial mass destruction in Berkshire Hathaways 2002 annual report. Don’t waste time! Our writers will create an original "Why People Blame Cds For Recent Financial Crisis Finance Essay" essay for you Create order However, Buffett recently admitted that his company has sold at least 251 derivative contracts with a total face value of more than $14 billion. Buffett says he plans to continue selling CDSs because the odds strongly favor making money. The architecture of derivatives markets is now in play because of two, related policy concerns that arose from the financial crisis: systemic risk and market efficiency. Systemic risk is the danger that failing financial institutions will destabilize the financial system and thereby threaten the wider economy. When unconstrained by effective risk management or regulation, derivatives enable high concentrations of risk in individual financial institutions. Derivatives markets are efficient if trading costs are low and risk is well distributed among investors. The most important ingredient for market efficiency is competition, which in turn depends on price transparency and on relatively unencumbered access to trading by a broad set of market partic ipants. Why people blame CDS for the recent financial crisis? The financial crisis was exacerbated by derivatives markets in two basic ways. First, insurance companies such as AIG, Ambac, and MBIA used CDS to sell protection on CDOs backed by sub-prime mortgages to such an extent that they were severely impaired when those CDOs experienced large losses from mortgage defaults. This in turn contributed to the weaknesses of the banks that had bought and relied upon the protection of these credit default swaps. Second, the failures of the large investment banks Bear Stearns and Lehman Brothers were exacerbated by a run of their OTC derivatives counterparties. The flight of these derivatives counterparties, as they sought new positions with other dealers, may also have contributed to the fragility of global financial markets. In the same vein, a number of other large dealer banks had to be bailed out for reasons that included the dangers posed by the potential flights of their derivatives portfolios. The AIG Fiasco AIG, the most egregious ex ample of the first type, was bailed out in response to losses suffered by its subsidiary AIG FP, which had sold CDS protection on over $400 billion of CDOs. As AIGs losses mounted, downgrades to its credit rating were about to trigger contractual obligations for AIG to post large amounts of additional collateral on its CDS positions. AIG did not have the resources to meet these calls for more collateral. The federal government stepped in to support AIG, at a massive cost to U.S. taxpayers. Clearing would not have helped here. The AIG credit derivatives contracts were customized to the particular CDOs that they covered. Even had CDS clearing existed at the time, these AIG CDS would not have been sufficiently standard to have been cleared. Only better risk management by AIG and better regulatory supervision could have prevented this disaster. Flaws in CDS: In my view, CDS and the entire OTC derivatives market represents a form of regulatory arbitrage a retrograde and deliberate evasion of established prudential norms masquerading under the innocent guise of innovation. As in the case for the OTC market for unregistered securitizations, OTC derivatives are essentially designed to generate supernormal returns for a relatively small group of global banks which traffic in these officially sanctioned, but private gaming contracts. The practical problems with CDS contracts come from several basic flaws in the regulatory, legal and business model for these instruments, deliberate flaws that include: An archaic, bilateral clearing scheme that has only recently begun to be reformed, A deliberate lack of standardization and price transparency that advantages the CDS dealer No common central counterparty to guarantee all trades and to hold collateral, and thus no effective limit dealer leverage A schizophrenic pricing methodolog y that has little connection to the several different types of underlying market and credit risk contained in CDS contracts Are the reforms really needed? Reform is necessary to re-establish confidence in the financial system, particularly among global investors. The reform proposal is well thought out, at least in theory; it attempts to fill most of the cracks in the regulatory framework, cracks that contributed significantly to the current financial crisis. Even with the reforms implemented we would have decreased the impact of this financial meltdown. Reforms which are being implemented: BigBang protocol: On March 12, 2009, International Swaps and Derivatives Association, Inc. (ISDA), published the Credit Derivatives Determinations Committee and Auction Settlement Supplement (the Supplement) and Protocol (the Big Bang Protocol). The Supplement will introduce four broad changes into the Credit Default Swap (CDS) market that will be applied to new CDS trades and can be applied to existing CDS contracts via adherence to the Big Bang Protocol. Each of these changes is outlined in the discussion below. And these became effective from April 8 2009. The changes made by the ISDA were: Adopts the auction model as the default settlement mechanism based on the documentation used in connection with previous credit derivative auction protocols; Establishes Credit Derivatives Determinations Committees (Determinations Committees) for the purpose of making determinations with respect to credit events and succession events, for overseeing the auction process (and any modification required for a specific credit event) and for addressing other issues presented by the CDS market; Establishes a credit event backstop date and a successor event backstop date; and Modifies currency exchange rates and related provisions for physical settlement and the auction settlement process to eliminate the perceived inequity relating to foreign exchange provisions with respect to the use and amendment of a Notice of Physical Settlement during the settlement of CDS trades. 100/500 Trading style: ISDA has also announced a new Standard North American Corporate CDS contract, nicknamed SNAC. SNAC is a single-name CDS contract with a fixed coupon of 100 or 500 basis points, depending on whether the Reference Entity is considered investment grade (for which the fixed coupon is 100 basis points) or high yield (for which the coupon is 500 basis points). SNAC contracts will also trade without Restructuring as an applicable credit event. Note that adhering to the Big Bang Protocol will not convert existing CDS contracts to SNAC. The Big Bang Protocol and the new SNAC contract are separate ISDA initiatives that will take effect on the same date. Reforms which are being proposed: The three main derivative reform proposals under discussion On July 30, 2009, the chairs of the House Financial Services Committee and the House Agriculture Committee outlined their joint principles for new derivatives legislation (the Frank- Peterson principles) On August 11, 2009, the Obama administration released its proposed Over-the-Counter Derivatives Markets Act of 2009 (the Treasury plan) On June 26, 2009, the House passed the American Clean Energy and Security Act (Waxman-Markey), can be evaluated with respect to several stated policy options that are believed, in varying degrees, to reduce systematic risk and improve the efficiency of the derivatives markets. They are: Centralized clearing, Improved price transparency, Improved position transparency, Migration of over-the-counter trading to exchanges, Speculative position limits, and Improved corporate governance in the area of risk management. Centralized clearing: A move towards the centralized clearing of OTC derivatives is an important component of all of the proposed packages of reforms. A contract is cleared when a central clearing counterparty, informally known as a clearing house, legally assumes the position of buyer from the original seller, and seller to the original buyer. The original counterparties post initial performance margin with the clearing house. As the position is marked to market each day, they pay or receive variation margin in recognition of any reductions or increases in the market values of their positions. These margin payments are normally made in cash or treasury securities. Clearing insulates counterparties from each other, provided that the clearing houses are themselves well designed and capitalized. In addition to any direct reductions in counterparty risk, clearing reduces the sort of run-on-the-bank behavior that was likely to have quickened the failures of Bear Stearns and Lehman. The main concern is ho w to encourage the growth of effective central clearing. Clearing is a relatively expensive process. For each type of derivatives contract, a clearing house must set up standard terms for acceptable contracts, determine formulas for initial margins, and set up a methodology for pricing cleared derivatives for the purpose of determining variation margin payments. Proper financial controls and carefully crafted legal contracts are required. Systems for the processing of trades and collateral are needed. Because of these costs and because of the requirement for daily or even more frequent pricing, it only makes sense to clear types of derivatives that are relatively commoditized, that is, widely and heavily traded in a standard form. In July 2009, Eurex began clearing CDS contracts, partly in response to the European Commissions demand that dealers arrange for separate Europe-based clearing of Eurozone credit default swaps. In general, counterparty risk is higher when clearing is separated across clearing houses. This follows from the lost opportunity to offset the exposures that can arise when a financial institutions cleared derivatives positions have a net negative market value at one clearing house and a net positive market value at another clearing house. From this viewpoint, it is better to have a small number of central clearing counterparties, and to have joint clearing of interest-rate swaps, credit default swaps, and other derivatives. National regulators would do well to cooperate on the regulation and supervision of clearing houses. Among the issues to be resolved for the effective international supervision of clearing houses is the division of responsibility for bailouts, should a clearing house need government support. Overall, while the clearing of inter-dealer OTC derivatives positions is still quite limited, the clearing of positions between dealers and their customers is even less common. The New York Fed has asked dealers to arrange fo r more clearing of customer positions. The development of new frameworks for clearing customer-to-dealer CDS positions is in progress. In summary, the increased use of central clearing represents the most powerful way to reduce systemic risk arising from OTC derivatives markets. Some key steps that regulators should take are: (1) pressuring dealers to adopt specific numerical targets for lowering exposures (before collateral) on uncleared derivatives positions, (2) increasing regulatory capital requirements for uncleared versus cleared derivatives, (3) persuading dealers to clear a greater fraction of dealer-to-customer positions, and (4) fostering international coordination in the regulation, supervision, and failure resolution of clearing houses. It would be counterproductive, in my opinion, for regulators to reach for legal definitions of the types of derivatives that are to be cleared. Improved Price Transparency: Markets tend to be more efficient when the going price is well known by market participants. OTC derivatives markets have limited price transparency. For relatively standard types of derivatives, such as certain interest-rate swaps and credit default swaps, representative quotes are published through financial reporting services such as Markit Partners and Bloomberg, or on inter-dealer broker screens. Customers of dealers are nevertheless normally much less well informed about recent execution prices than are the dealers with whom they execute their trades, and are thus at a bargaining disadvantage to the dealers. This is not a big issue from the viewpoint of systemic risk, but it is a relevant concern with respect to market efficiency and the division of gains from trade between dealers and their customers. But on the other side from dealers point of view with more improved price transparency would reduce the incentives of dealers to make markets because the customers will be h aving the price of previously traded contract and in the end reduce market liquidity. Improved Position Transparency: A separate issue is the availability of data on the sizes of derivatives positions, which allow the monitoring of risk concentrations that can have systemic implications. There are concerns, however, about what amount and type of data is appropriate to be disclosed, and to whom. The Treasury plan and the Frank-Peterson principles call for all OTC derivative trades to be reported to qualified trade registries. The Treasury plan also calls for public disclosure of aggregate position information, and proposes that individual positions should not be disclosed. Aggregate position information Public disclosure of market-aggregated position sizes seems well warranted. Currently, for example, for each of 1,000 large corporate or sovereign borrowers, DerivServ discloses the total quantity of CDS positions that are held as protection against the default of the borrower. This open interest information assists investors in judging the degree to which investors, in aggregate, are concerned about the creditworthiness of individual borrowers, as well as the degree to which sellers of protection in the CDS market could be harmed, in aggregate, if the borrower defaults. The BIS, the Office of the Comptroller of the Currency, ISDA, and other agencies provide some aggregate market position information, although the frequency of these reports and their coarse levels of aggregation leave room from significant improvements in the information that investors can collect on OTC market risks. Regulators should push, in broad set of active OTC derivatives markets, for something akin to t he frequency (weekly) and degree of refinement of DerivServ open-interest reporting. For example, had the DerivServ Trade Information Warehouse, which now provides electronic documentation of almost all standard CDS contracts, not existed by the time of the financial crisis, the default of Lehman Brothers would probably have been accompanied by substantially greater market uncertainty, and potentially by panic as dealers and others attempted to determine the extents of their CDS exposures. In fact, the CDS positions triggered by Lehmans default were well documented and were settled in an orderly manner. All recorded sellers of protection performed on their obligations. Individual position information It is sometimes claimed that OTC derivatives pose dangerous risks because the public does not have the opportunity to see the sizes of positions held by individual investors. OTC derivatives markets are no more opaque in this respect than organized derivatives exchanges. Indeed, individual positions are almost never disclosed in any financial markets. The main exception is the SEC requirement for investors in the common shares of public corporations to disclose holdings once they exceed given thresholds, relative to the total number of outstanding shares. These equity position disclosures are not motivated by systemic risk monitoring, but are instead designed to address issues related to the potential control of U.S. corporations. Derivatives positions do not convey control. In general, the public disclosure of individual derivatives positions would reduce the incentives of investors to collect and analyze fundamental information. The efficiency with which prices are determined would decline correspondingly. Privacy concerns might also be raised. The public disclosure of individual derivatives positions should not be mandated as an approach to reducing systemic risk unless there is compelling evidence that disclosure to regulators alone is not sufficient. There is, however, a good case for mandating the public disclosure of derivatives positions (whether obtained on exchanges or over the counter) that offset the economic exposures of major holders of debt or equity in public corporations. For example, the public has an interest in discovering whether a major shareholder, who ostensibly contributes to proper corporate governance, has severely diluted its governance incentives through a derivatives position. Likewise, the major creditors of a distressed corporation are normally presumed to act in a manner that mitigates distress costs. If, however, a creditor has purchased protection against default using credit derivatives, the creditor may even have a n et incentive to accelerate the default or may have a substantially diluted interest in raising the recovery value of debt claims. In general, regulators should rationalize disclosure requirements for derivatives positions that raise substantial concerns over moral hazard in corporate governance. Migration of derivatives trading onto exchanges: Because derivatives traded on exchanges have almost immediate price transparency and are almost invariably cleared, exchanges offer obvious improvements over OTC trading for those types of derivatives that have enough volume of trade to justify the setup costs of exchange trading. Once traded on exchanges, moreover, a broader set of investors can take part in the benefits of hedging and speculation, and can further add to market efficiency and, particularly, liquidity. Dealers, however, reap substantial profits from OTC trading, and have little incentive to foster the migration of trading from the OTC market to exchanges, even after a derivative product achieves a high level of standardization and breadth of investor activity. Anyone suggesting otherwise should be embarrassed by the examples of standardized and extremely heavily traded derivatives that are available only in the OTC market, such as CDX.NA.IG default-swap index derivatives, which are based on a basket of bonds iss ued by large investment-grade North American corporations. I can think of no good reason that the public interest is best served by having such benchmark financial products available only through negotiation with dealers. There also exist electronic trading platforms that offer a degree of price transparency and breadth of access lying between the extremes represented by fully private OTC negotiation and central exchange trading. These platforms are organized by dealers, inter-dealer brokers, or specialty financial services firms such as TradeWeb or BrokerHub. On such platforms, dealers compete for orders by displaying quotes. Typically, counterparties can contact other counterparties offering quotes, and then complete the negotiation of trades in private. More extensive use of electronic trading platforms and of TRACE-like price transparency would reduce the inefficiencies associated with OTC market opaqueness. Indeed, the Treasury plan would require that all standardized der ivatives be traded on exchanges or on alternative swap execution facilities, apparently referring to trading platforms of the sort mentioned above. Forcing derivatives trading onto exchanges by regulation must nevertheless be done with caution. It is not easy to gauge the costs and benefits, case by case. Simple rules based on measured volume might encourage unintended behavior by dealers, such as using excessive customization to limit the development of liquidity. Further, even for relatively high-volume products, OTC markets are sometimes able to handle very large trade sizes more easily than exchanges, just as large blocks of equities are often handled by private negotiation despite the availability of active equity exchanges. Beneficial financial innovation could also be stifled if OTC derivatives are regulated onto exchanges before dealers can generate a sufficient return on their investment in developing new financial products. Curbing Speculative Trade: It has been proposed that speculative derivatives trading should be severely curbed, or even in the case of CDS markets outlawed. These proposals are based, at least in part, on a misconception of the role of speculation. The U.S. House of Representatives has voted in favor of Waxman-Markey, which, if passed without alteration, would prevent an investor from entering into a credit default swap unless the investor has an associated commercial business exposure to the borrower named in the CDS. (The disallowed trade has been called a naked CDS.) This measure is seriously flawed. If it is enacted, an investor that does have a commercial hedging need for CDS protection would often face difficulty finding a suitable counterparty. Apparently, the counterparty would also be legally required to have a commercial need to hedge against the default of the same borrower. The elimination of speculation through this measure is analogous to regulation against hurricane insurance. Insurers have no natural hedging motive in offering hurricane insurance. They are effectively speculators. That is, they believe that the likelihood of a hurricane is low enough relative to the insurance premium that they can generate an expected profit on each new policy, although taking the risk of a significant loss in the event of a hurricane. To the extent that insurers are prevented from speculating in this manner, those with a desire to reduce risk by purchasing insurance would lose access to counterparties willing to bear the risk, or would pay a much larger insurance premium given the resulting scarcity of risk-bearing capacity. A related measure, proposed by George Soros and included as a legislative option in the Frank-Peterson principles, would allow speculators to sell default protection but not to buy default protection. Such a rule would lead to a loss of market liquidity and a reduced quality of price discovery. Suppose, for example, that the CDS market currently offers p rotection on a named borrower at a premium that is much lower than the borrowers poor financial condition actually warrants. Under the proposed regulation, speculators would not have the incentive to discover the true financial health of the borrower, buying protection until the market price of protection rises, thereby revealing the weakness of the borrower to everyone. Outlawing the speculative use of credit default swaps to buy protection would have the unintended consequences of reducing market liquidity (because those selling protection would have less incentive to incur the costs of remaining informed and active traders) and of driving this form of speculation under the radar, through the use of less effective and transparent types of financial products. There are no specific regulatory limits on the sizes of OTC derivatives positions that may be held by a hedge fund, although dealers holding the other sides of these positions indirectly limit systemic risk to some extent t hrough their own limits on counterparty exposures and with the collateral requirements that they impose on hedge funds. Through laws that prohibit price manipulation, the SEC and the CFTC already have an adequate legal framework for pursuing anyone attempting to corner or otherwise manipulate organized securities or derivatives markets. For example, both the CFTC and the Federal Energy Regulatory Commission (FERC) charged Amaranth with market manipulation over its natural gas futures positions. The proposed Treasury plan includes several new measures designed to limit manipulation of OTC derivatives markets, mainly with respect to trading on alternative swap execution facilities. Improved corporate governance in the area of risk management: Derivatives that are not easily cleared or exchange traded are typically those customized to suit the specific business uses of investors. There should be some tolerance for financial innovation and customization. Economic efficiency is harmed if those with commercial needs for hedging are forced entirely into standard derivatives positions that are relatively poor hedges, or if derivatives markets are unable to innovate along with changes in the economy. For example, when interest-rate swaps first appeared in the 1980s, they were low-volume customized financial instruments. Had non-standard derivatives been heavily penalized at that time, a useful financial innovation could have been stifled. The AIG derivatives fiasco was extremely costly to taxpayers. The AIG credit default swaps would not have been sufficiently standard to be cleared. By their nature, the risks of customized derivatives are more difficult to monitor than those of standard derivatives. Risk management by AIGs senior management and board, and supervision by the regulator of its derivatives activities, the Office of Thrift Supervision, were inadequate. In my opinion, corporate boards and regulatory supervisors should have more effective risk management credentials or training. The quality of risk management by corporate boards might also be raised by the increased use of professional services in risk auditing, in the manner that boards currently rely on independent financial accounting auditors. Rules should be flexible to allow for and react to changes in markets: Policymakers should keep in mind that markets evolve. Markets cannot be created by government fiat, and they are distorted by government intervention.Where regulation is necessary, it should be flexible enough to allow continued market evolution and to respond to that evolution in appropriate ways. Sound regulation interacts with markets rather than insisting that markets conform to preconceived government categories and jurisdictions.While central clearing for many CDS contracts is now feasible, regulations should remain sufficiently flexible to allow new or revised credit products to trade and develop in non-cleared markets.Over time, successful products will develop sufficient volume and standardization to permit clearing or exchange trading. However, imposing such requirements on new products when they are initiated initiated would prevent useful experimentation and market evolution.Those who would disrupt derivatives market improvements by mandating a change in regulatory juri sdiction should be required to meet the high burden of proof that the regulatory disruption is both necessary and likely to improve current arrangements. The House Agriculture Committees proposal to restrict derivative clearing to CFTC-regulated clearinghouses fails both prongs of this test. Conclusion: In order to reduce systemic risk arising in derivatives markets, regulators should push for more extensive clearing through immediate pressure on dealers for numerical targets and, as soon as possible, through revisions to regulatory capital requirements. Regulatory language that defines the specific types of derivatives to be cleared would have counterproductive unintended consequences. Derivatives positions should be comprehensively disclosed to regulators, and should be disclosed to the public only after aggregation, except for cases in which the disclosure of specific individual positions would inform the public about significant moral hazards in corporate governance. In order to improve market efficiency, over-the-counter prices should be published much more systematically, for example through TRACE-like post-trade reporting systems, which should be mandated for at least all cleared derivatives. Greater competition, even within the OTC market, can be achieved with more effe ctive and widespread use of electronic trading platforms. Regulators should foster the migration of trading from over-the-counter markets to exchanges whenever warranted by sufficiently active trading. Severe curbs on speculation detract from market efficiency and increase price volatility. Speculative position limits should be adopted only where valid concerns over systemic risk or market manipulation cannot be addressed by other means. Corporate boards should be encouraged to improve their corporate governance in the area of risk management, for example from increased representation on boards of suitable specialists or by the retention of professional risk auditors. All that I am suggesting today is that we bring the CDS market fully into the light of transparency by listing most of these contracts on exchanges, that we require adequate capital and collateral for all players in both exchange and OTC markets, for end users and dealers alike; and that we force parties writing def ault protection to show that they understand the risk implications of same.

The Great Gatsby and the American Dream - 1401 Words

The Real American Dream Since its institution, the United States has been revered as the ultimate land of ceaseless opportunity. People all around the world immigrated to America to seek quick wealth, which was predominately seen in the new Modern era. Beginning in the late 1800s to the early 1900s, the period introduced progressive ideas into society and the arts. Accompanying these ideas was a loss of faith in the American Dream and the promise America once guaranteed, especially after World War I. One of the renowned writers, F. Scott Fitzgerald, emerged during this period and put together The Great Gatsby â€Å"embodying†¦the fluid polarities of American experience: success and failure, illusion and disillusion, dream and nightmare†,†¦show more content†¦However, Fitzgerald implies through his diction, that the mansion also is portrayed as an idea, which serves one purpose: to win Daisy back. By defining Gatsbys mansion as a colossal affair by any standard†¦or rather†¦it was a mansion inhabited by a gentleman of the name, Fitzgerald suggests that Gatsby does not own the house, but rather the house or the idea owns Gatsby, and that there is no substance in his vision(Fitzgerald 9). Also, he states that the mansion is a representation of a shortsighted American Dream: that material success†¦will bring one status and happiness†¦, and shows material gain as insignificant when compared to one’s true feelings and emotions (Morton-Mollo Online). Moreover, Fitzgerald hesitates to mentions the word home during his description adding to the purpose Gatsby intends for the mansion, rather than the realism of an actual home. Also, the â€Å"obscene† word left on Gatsby’s front steps , although erased, prove Fitzgerald’s condemnation of the idea, but not the individual of Gatsby, because â€Å"after Nick’s act of erasure, Gatsby’s elusiveness, corruption†¦are forgotten†, yet the elusivenes s and corruption of the American Dream still hold valid (Will Online). Fitzgerald asserts that Gatsbys home parallels his persona - grand, mysterious, andShow MoreRelatedThe American Dream : The Great Gatsby Essay1568 Words   |  7 PagesThe American Dream: The Great Gatsby The Great Gatsby is a tragic love story on the surface, but its most commonly understood as a suspicious critic of the American Dream. In the novel Jay Gatsby overcomes his poor past to gain an incredible amount of money and a limited amount of social cache of in the 1920s NYC, only to be rejected by the â€Å"old money† crowd. The focus of my paper would be the pathway towards the American Dream and how it affects the person and others around. 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Janoskians Free Essays

The Janoskians are a group of 5 boys that are taking the world by storm! The Janoskians = Just, Another, Name, Of, Silly, Kids, In, Another, Nation. (Skip). The boys became known to the media and public and branded as ‘The YouTube and Online Sensations’ in late March last year when their Meet Greet and Luna Park, Melbourne, had a turn up of over 6000 fans and had to be closed down. We will write a custom essay sample on Janoskians or any similar topic only for you Order Now They now have over 550K subscribers to their main YouTube channel – The Janoskians – with almost 56 million views to date on one channel alone!! They have caught the attention of Sony, MTV, are partnered with YouTube and have just signed with the likes of Keek and various other social platforms. The boys were also recently approached by the Moreland City Council Mayor, OscarYildez (Vic) and are proud to say that they have now joined forces with the ‘Bully Free Australia Foundation’ (in which they promote awareness against bullying) are anti-bullying Board Members and Ambassadors for all online social networks that they are involved with. This campaign also reaches schools, workplaces and the wider community. Involved in this campaign include the likes of Pink, Melbourne Victory Football Club, EDFL, ACG and many other high profile celebrities and businesses. The Janoskians recently released their first single being ‘Set this world on Fire’ with 3 more songs to be released in the next few months! The boys have just completed touring and performing in the ‘Summer Night’s Tour’ with Reece Mastin and The Justice Crew which was a great success and something the boys will never forget. The Janoskians look forward to now travel overseas to meet the ever growing Janoskian fan base all over the world! The boys have made 8 episodes with MTV including many ‘bonus’ and ‘bloopers’ clips added – in association with their show: www. mtv. com. au/thejanoskians. The show has now reached the UK and has attracted interest from Canada, Sweden and many other countries and no doubt will go global this year with MTV which is very exciting! On Saturday, March 16, 2013, the boys will be attending the â€Å"Ribbon Cutting Ceremony† by the Honourable Prime Minister Julia Gillard who will be officially launching the Anti Bullying Australia Foundation! How to cite Janoskians, Papers

Resource Allocation Strategy for Innovation Portfolio Management

Question: Discuss about the Resource Allocation Strategy for Innovation Portfolio Management. Answer: Literature Review The authors cited clear literature reviews which are available within each section of study. Proper titles are also used to elaborate different parameters and show their effectiveness. The various sections into which the research is divided are: Theory Resource Allocation breadth Selectiveness Innovative intent Data and methods Measures Estimation Results Discussion Conclusion The centre point of the journal is the inclusion of data and analysis sheet within the study material. The results show a correlation table depicting the relationship between various factors which effects the decision of innovation portfolio management. Some examples are new product sales, size of the firm, process innovation, innovation expenditure etc. The correlation table specifies how each and every factor gets affected by the decision and shows the viability of a decision. Further, an analysis has been given for various models including NEW, NTF and NTM models. Thus, the overall picture has been described which should get affected when a business needs to invest in new portfolio. The journal shows the idea of selecting a portfolio based on the size and selectiveness of the projects and the data analysis further reinforces the conclusion drawn. The literature review as presented by the research is full of information. However, the information given in the literature review is not up to date. The researcher properly referenced the literature review but incorporates data that are dated 1985, 1997, 1981, 2002, 2000 and some older years. While carrying out the literature review, the researcher made it sure to incorporate all the aspects of innovation that the readers should know. The authors talk about the resource allocation breadth that talks about the parallelization of allocations of resources so that every organization is able to get equal amount of resources to bring in the innovation. Selectiveness is all about allocation resource when the research is going on. Resources are allocated based on the importance of the importance of the individual project. Due to selective resource allocation, there is discrimination for resources among the projects as the resource allocated will be different for each type of project. The in novation intent is related to the intention of the organization to bring in the innovation. The readers might not be knowing the various ways of resource allocation. The literature review throws light on the resource allocation strategies that will help the organization to bring in different types of innovation. Hypothesis This research tested hypothesis about what factors cumulatively derive a prudent decision for effective and objective portfolio management in an innovative environment. The theory well describes the commonly adopted methods which may lead to a complete failure of a project. The authors very well described the need for a portfolio while taking an investment decision especially which scarce and limited resources. The resource allocation breadth has been described as one of the important decisions. The importance of availability of a wide range of projects for making a portfolio has been considered. The authors considered prior research conducted on the topic and concluded that more and more availability of projects may lead to overstretching which can be effectively curbed by adopting the selective approach. This idea has been well developed and depicted as a major and centric approach. Objectives The study sought to achieve the following objectives- How new product sales are affected by the decision of innovative portfolio management. Allocation of resources to the wide range of available projects. How an approach to test the overall effect of a portfolio and non analysis of individual projects may determine the credibility of a business Is the data produced by the Community Innovation Survey (CIS) be utilized for deriving useful results for portfolio management. Is the breadth of the portfolio has greater impact than the selectiveness or a balanced approach needs to be followed. Whether the innovative intent visualized by an organization has been able to be achieved by the designed portfolio. Whether firms should invest in greater projects initially and switch to limited projects which are performing well. Research questions are not given in the article. Every article should have research questions so that the readers would be able to understand the areas that the researcher will investigate or in other words find the answers to the questions. If the researcher would have put the research questions, it would have been easier for the readers to identify the areas that the research is putting the focus on. Methodology The treatment followed a study based on factorization of the effectiveness of an innovative portfolio and its success. The journal depicts short emphasis on each and every factor namely- breadth of the projects, selectiveness and innovative intent of a business. These three factors are considered the pillars of the discussion. Further, the authors used sample method to prove their research outcome. The 2009 Mannheim Innovation Panel conducted a survey for the period 2006-2008 which was a part of the European Community Innovation Survey. A journal from the Oslo Manual has also been referred in the work. The Oslo Manual provides an annual survey of firms providing a wide range of record for check on the consistency of the projects. The sample chosen by the authors has 35,197 enterprises. The authors also analyzed the data in the light of dependent, independent variables and control variables. The research design as applied by the researcher is appropriate for the research. The researcher took into consideration both secondary data and primary data. The secondary data is described properly in the literature review. The primary data is being analyzed with the help of co-relational method. As the authors are trying to find the relation between resource allocation and innovation portfolio management, co-relational analysis seemed to the best choice by the authors. The analysis will help the authors find out the relation between the two. Findings The introductory part demonstrates the objective of the research which shows that the journal particularly discussed about the approach to be followed when a business wants to invests in some innovative intent with the potential to generate more future profits. The decision particularly relies on a number of factors which are highlighted by the authors. A brief discussion about each factor further enhances the correct objective selection for the journal. Each discussion describes how it affects the management of a portfolio of an innovative investment along with the strengths and weaknesses of utilizing that factor. The solutions and related articles and works are also cited along with the research of authors to strengthen the vision of the journal. The data referred by the authors to base their findings was authentic and well accepted. The sample taken depicts a proper survey of businesses who wants to step in the innovative market and make a mark of success in their work histories. Each and every part of the sample and other works has been mentioned with proper source citing and the authentication of the sources. A short introduction about the sources has also been given to strengthen the findings. The variable method was adopted to show that the results derived by the research are well tested and proved. The novelty of new products has been tested using three categories viz. NTM (new to market), NTF (new to firm) and NEW (new and improved products). A ratio of the investment capability of a firm to its new products has been calculated and evaluated to depict the innovation appetite of a firm and the ability of smaller firms to diversify by investing in new projects. The estimation was done on the basis of Tobit analysis method. Split sample or split variables analysis was performed to measure the changing effects breadth under various situations. A proper analysis has been done of different variables under multiple situations and correlation among them has been analyzed and reported in the journal. Thus, proper statistical tools have been used by the authors to reach the final conclusion. All the works and analysis of the authors are properly shown in the journal so that the reader can understand the pros and cons of each and every factor and understand the viability of the decision. The data analysis part of the article is presented well by the authors. The researcher has mentioned the data and the analysis of the data properly. The researcher has mainly discusses three types of allocation strategies in innovation. The authors have mentioned all the aspects of the different tables that have been based on the three factors. The readers would not face any issue to understand the data that has been set by the researchers and they would easily understand the types of analysis that has been incorporated in the article. The presentation of the data has made it easier for the readers to relate them with the discussion and the result that have been mentioned in the article. The researcher has not forgotten to relate the analysis with the result of the article. The models that are being evaluated by the author are being controlled for principle industry membership. The authors revaluated the data by rerunning the model by an augmented operationalization of breadth. The outcome of the analysis show that the result that has been concluded is consistent and hence the research can be said to be successful. The limitation of the research has been addressed in the article properly. The best part of the research is that the researcher has incorporated scope for the future research along with the limitations of the research. The readers will know that the limitation of the present research will help in understanding the areas where further they could further carry out the research. The future researcher will get to know the issues that they could face while carrying out future research. The authors have said that the authors could not evaluate the quality of information that is added in strategy. The authors could not have any control over the resources that are being fed in the strategy. The innovations will vary based on the quality of the ideas. If research is being done on single industry context then the result between the performance and portfolio resource allocation breadth might have been different. Recommendation "Additional research is needed in other statistical settings to see if consistent findings about breadth analysis, requirement of innovative intent, selectiveness and attitude are achieved." However, the journal properly analysis various aspects of an innovative market culture and how different parameter need to be drawn before taking the portfolio and investment decisions. The analysis of the factors under different other statistical scenarios may provide different results than what is derived by the authors. The strength of the journal lies in the base formation which is made up of an authenticated survey which cannot be nullified in any sense but the dynamic business era may provide changing results under different situations and during different period of time. Thus, another measurement tools and references must be followed before concluding anything. Conclusions Conclusions and implications were formulated with the knowledge that subjects for this study used breadth and selectiveness extensively for selecting a perfect innovation portfolio. In this investigation, final examination scores were independent of the method of testing. The method of testing was not a determinant of how business should particularly follow a path while investing in an innovation portfolio. Since time required was not consistent over the two replications, the methods of testing as well as other factors appear to influence the time requirements of test completion. Overall Critique This was a very in-depth research project, particularly for a journal article. For the most part, it was well written and well organized. There was a definite need for a short review of literature to develop the situation. The article did get a little complicated in the reporting of data due to the complicated statistical procedures used. Overall, it was a very interesting, significant contribution to the field of research.