Discussion of question Essay Example | Topics and Well Written Essays - 500 words

Discussion of question - Essay Example As clearly expounded, one of the most easily identifiable measures of results is sales activities, which was defined therein as â€Å"activities that do not alter the physical, financial, or demographic realities of the community, but rather inform and persuade firms and investors. They include calls on firms, speeches to Rotary Clubs, public relations, advertising, writing and dissemination of brochures, attendance at trade shows and other events, and "networking."3 These activities, also synonymous with marketing activities are easily measured from one point in time to another. Thus, it is an effective gauge of an economy’s progress or regress, depending on the outcome that is measured. However, from the article written by Blair and Reese, the authors have indicated that â€Å"enhancing quality of life is emerging as an important economic development (ED) strategy.† 4 Therefore, not only do government officials focused on aiming to generate sales activities, but more so, the need to address issues that enhance the quality of life, is of equal importance. These reasons actually â€Å"helps local government look good and it secures the position of the economic developer and his or her agency† 5 Economic indicators such as sales or marketing activities, as well as opportunities to enhance quality of life through greater access to health care, for instance, or immediate response by the police force in addressing criminality within the locality, are measures that make the image of economic legislators and policy makers either good or bad, in the perceptions of the citizens. Therefore, these government officials make economic development a priority in the list of government programs that are earmarked to be addressed on a year to year basis. Furthermore, as the economy grows, citizens and businesses give back to the community in terms of higher purchases and taxes which provide

Motivation Letter Essay Example for Free

Motivation Letter Essay Economics, as a field, had always fascinated me right from my school days. As I grew up, I gradually came to appreciate the importance of economics in the modern world. In the university, I was fortunate to have been exposed to many interesting and challenging fields. However, I ultimately chose to major in Accounting, which provides me with fundamental knowledge of many economic-related theories and concepts, as well as familiarity with statistics and data analysis. I also learned the basic tenets of Economics in courses such as Finance, Management, Accounting and Public Finance. Subsequently I enhanced it with CMA Certificate courses right after graduation in 2006 These courses revealed to me the importance of the economic sector in the society, besides that I realized that Economic and Finance professionals have the privileged opportunity of managing assets and analyzing risks to ensure the future success of a company or organization. In 2010 and after having three years experience as Customer Service and Letters of Credits and Guarantees Officer, Business Development Officer at Bank Audi, and One year as Senior Account Officer / Corporate Business Development at Bank of Jordan, I realized the importance of finance and investment, giving the fact that the main decision of any enterprise is where to invest money and how to evaluate investment opportunities. Therefore, I decided to pursue postgraduate studies in investment and finance that would ideally complement my academic knowledge and experience, but unfortunately the current sad situation in my country freezes all my academic chances. So I’m looking to be a part of a respectful program and an opportunity to meet people and economists in one of the world most developed nations. In 5 years, I see myself leading an investment and financial section where I am involved building fruitful international business relations, designing structured financial products and managing well-diversified and effective portfolios by incorporating cutting edge methodologies and sophisticated tools that offer a valuable investment opportunity to the potential investor. Throughout this course I will leverage my existing skills with the knowledge of finance and economics that will help me to achieve my medium-term career goals to manage capital, create portfolios, perform mergers and acquisitions, and ensure future economic stability for corporations, as well as helping financial services industry to make the right financial decisions that will lead to economic stability and high returns. In the long-term, such knowledge, skills and experience will help me assist the Syrian market in designing, implementing and monitoring financial policies, planning and executing the financing initiatives, and interfacing with the financial community and investors.

My Goal Statement Essay -- My Mission and Goals

My mission here at State University is to strive to be the best person that I can possibly become. I respect my elders and try to learn good values from them. Also, I try to be a good role model for my friends and youngsters. I appreciate and understand other people's differences and am happy that we’re not all the same. As a team leader, I try to put these differences and diversity to good effect. I take full responsibility for my actions. I am always accountable to my decisions. If I make a mistake, I am always ready to admit it and learn from it. I always remember that before I can influence someone else, I must first be in charge of myself. If I am not fully convinced of my own decisions, it would be very difficult for me to influence others. I am a responsible student who works hard in school. I believe that hard work is the key to success. My goal is to graduate and fulfill the dreams of my father. I want to pursue Urban Planning just like him. I also plan to have a Mas ter's degree for the same. I will take every effort necessary to ensure that I meet and, if possible, exceed my goal through sheer dedication and perseverance. I pledge to offer the highest quality of leadership, the greatest level of expertise, and tireless dedication to the cause. I studied English last year at County Community College and moved to State University for this major later. I like California. I strongly feel that the mission statement of State University complements and resonates with goals and aspirations of mine. As State University guarantees the best pedagogical techniques, I will try to show my excellence as a student. I will demonstrate my intellectual capability and ask right questions at the right time to feed my curiosity. I will... ...trated. I would give higher priority to tasks which have to be performed immediately. Flexibility is also very important and I would modify my path whenever need arises. Efficient management of time is also necessary when it comes to tackling obstacles. The first stages are even more important because when we see first progress, we become even more determined to put in more effort towards our goal. Procrastination is also a very big obstacle and may keep us distracted. We should always make small goals which in turn would coordinate to meet the larger goal. We should never get caught in unnecessary thoughts. Without getting distracted by the external environment, I would keep the primary goal in mind while doing any task. As I want to get a Master’s degree in Urban Planning, these values which I have already listed would surely help me in taking good decisions. My Goal Statement Essay -- My Mission and Goals My mission here at State University is to strive to be the best person that I can possibly become. I respect my elders and try to learn good values from them. Also, I try to be a good role model for my friends and youngsters. I appreciate and understand other people's differences and am happy that we’re not all the same. As a team leader, I try to put these differences and diversity to good effect. I take full responsibility for my actions. I am always accountable to my decisions. If I make a mistake, I am always ready to admit it and learn from it. I always remember that before I can influence someone else, I must first be in charge of myself. If I am not fully convinced of my own decisions, it would be very difficult for me to influence others. I am a responsible student who works hard in school. I believe that hard work is the key to success. My goal is to graduate and fulfill the dreams of my father. I want to pursue Urban Planning just like him. I also plan to have a Mas ter's degree for the same. I will take every effort necessary to ensure that I meet and, if possible, exceed my goal through sheer dedication and perseverance. I pledge to offer the highest quality of leadership, the greatest level of expertise, and tireless dedication to the cause. I studied English last year at County Community College and moved to State University for this major later. I like California. I strongly feel that the mission statement of State University complements and resonates with goals and aspirations of mine. As State University guarantees the best pedagogical techniques, I will try to show my excellence as a student. I will demonstrate my intellectual capability and ask right questions at the right time to feed my curiosity. I will... ...trated. I would give higher priority to tasks which have to be performed immediately. Flexibility is also very important and I would modify my path whenever need arises. Efficient management of time is also necessary when it comes to tackling obstacles. The first stages are even more important because when we see first progress, we become even more determined to put in more effort towards our goal. Procrastination is also a very big obstacle and may keep us distracted. We should always make small goals which in turn would coordinate to meet the larger goal. We should never get caught in unnecessary thoughts. Without getting distracted by the external environment, I would keep the primary goal in mind while doing any task. As I want to get a Master’s degree in Urban Planning, these values which I have already listed would surely help me in taking good decisions.

Good for Another Essay

We were in our final year in secondary school, and we were asked to pay for WAEC and NECO fees. Some paid for WAEC only, some paid for NECO only, while some paid for both. Three weeks before the closing date, me and my friend went out for break, though it was prohibited to eat your breakfast in the class but me and Ada often eat there. That day, when we went into class, we were surprise to see one of our classmate; Sarah crying. We asked her why she was crying and she told us her parent cannot afford to pay for her WAEC or NECO fees. I was touched by the way she was crying and I promise her I would pay for her, I told her I would tell my parents and I was sure they will pay for her. Me and Ada told her to wipe her tears before the rest of the student came in from break. That day, when I reached home I told my mother about it and she promised to pay for her WAEC only, that she would give me the money in two days. We all graduated from secondary school and we all made our result and almost all of us furthered our education to Universities of various types. I lost contact with Ada and Sarah since then but, you know; Life have to go on. I was at the school cafà © one day when I saw Sarah, oh my God! I can’t believe I was seeing her, we were so happy to see each other again after our life in secondary school. We talked for so long, and through our chatting I discovered her Dad was now rich, and she was studying Law. We exchanged phone numbers and hostel Numbers. We became friends again. At the end of second semester in school, I went home only to find out my father was dead, he was hit by a bus the night before the day I came home. I wept, oh my God! I did not only wept because I lost my father, I also wept that my education might stop, I wept that all my years in school might be wasted. I wept that I fell sick and was admitted at the hospital for a week. A week after I was discharged from the hospital, I heard registration for next semester will be closing in one week. I told my mother, but she told me she cannot afford the fee. I was devastated, I was afraid that my greatest fear is coming to reality. I decided to go to Sarah for help, but to my greatest surprise, she told me she wanted to use the money she had for something else. It hurts me so much that I wept right in front of her. All she could tell me was she can’t give me the money. I wept home and told my mother what Sarah told me, she could not believe this, she could not believe this was the girl she helped some years back. She told me to wipe my tears, and that life goes on. I was dropped out of school and I started apprenticeship in a salon shop not far from our house. After two years, I invested my own salon and with more effort and the help and support of my mother, my shop grew up. My salon became one of the best of the well known salon. I was in my salon one day when Ada came in, I did not even notice her. I was busy working when I heard someone call my name, I turned and saw Ada, I shouted and hugged her. Oh Goodness, I was seeing Ada again after so many years. We chatted for a while and she told me she saw Sarah, she told me Sarah was dropped out of school and arrested by the Police, that she was caught with Cocaine. I told her what happened to me, how I was dropped out of school, she was surprise that Sarah could do such a thing to me, me of all people. I told her I was well over it, and Sarah deserved all that happened to her. Though I am successful in life but, I will never forget how I was dropped out of school. I may forgive Sarah but, I will never forget what she did to me.

Impact of Stock Split on Stock Return

Proceedings of ASBBS Volume 16 Number 1 THE IMPACT OF STOCK SPLIT ANNOUNCEMENTS ON STOCK PRICE: A TEST OF MARKET EFFICIENCY Garcia de Andoain, Carlos Longwood University carlos. [email  protected] longwood. edu Bacon, Frank W. Longwood University 2O1 High Street Farmville, VA 23909 [email  protected] edu Phone: 434-395-2131 Fax: 434-395-2203 ABSTRACT The purpose of this study is to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S&P 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. INTRODUCTION Stock split announcements have always been very common phenomena among firms and continue to be one of the least understood topics in finance. A stock split announcement increases the number of shares of a company while decreasing the price per share. The two for one split is most common, for example a company with 500 shares at $10 per share will issue 500 additional shares bringing the total to 1000 shares theoretically dropping the stock price to $5 per share. A stock split usually takes place after an increase in the price of the stock, and it carries a positive stock price reaction. (Asquith) This phenomenon has not yet been fully understood, regardless the numerous studies in the field. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 BACKGROUND Barker (1956) presented one of the most popular theories to explain stock split behavior. Barker findings failed to consider the split action itself. Barker’s study concluded that price changes occurred because of the increase in cash dividends and not from the split action. (Johnson). According to the â€Å"signaling hypothesis†, managers use stock split announcements to convey positive information about the firm (Ikenberry, Rankine, Strice). Investors see a stock split announcement as a positive thing, whereas a reverse split does not convey favorable information. Fama (1969) suggests that the stock market is â€Å"efficient†, meaning that stock prices adjust very fast to new information. The theory of market efficiency is concerned with whether prices reflect all the public available information or not (Fama 1970). Efficiency implies that it is impossible for the investor to earn an above normal return from public information. PURPOSE The purpose of this event study is to test market efficiency theory by analyzing the impact of three samples of stock split announcements on the firm’s stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. Specifically, how fast does the market price of the firms’ stock react to the samples of regular and reverse stock split announcements examined? The study tests whether the investor can make an above normal return by relying on public information imbedded in a stock split announcement, as well as if stock price is affected by a stock split announcement. This study investigates if acting on public information is enough to have an unusual return, or if there must be an illegal action such as inside trading to be able to â€Å"outperform† the stock market. Which form efficiency is the market? Research shows that the market is semi-strong form efficient. An above normal return can only be gained from inside information, and not when acting in public information. LITERATURE REVIEW Fama defined market efficiency in terms of how quick the stock market reacts to the information and suggested three kinds of market efficiency: Weak form, semi-strong and strong form efficiency. If market is weak for efficient, then stock price reacts so fast to all past information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index). This study shows how investors will not earn a high return from acting on public information (stock split announcement), while investors having access to inside information will make an abnormal return. A second kind of market efficiency is semi-strong. It states that stock price reacts so fast to all public information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this type of information. (Fama 1970). Splits usually result in high market valuations, but study done by Fama (1970), Dodd, Patell and Wolfson, found that there is no evidence of abnormal return after the release of public information. They concluded that the market assimilates and takes into consideration public information very fast, within 5 to 15 minutes after the disclosure (Malkiel). This supports the idea that an investor acting on public information will not earn an above normal return. When this happens the market is said to be semi-strong form efficient. If the market is strong form efficient, then stock price reacts so fast to all information (both public and private), that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this kind of information. Studies made by Friend, Brown concluded that profit can only be gained by having access to private or inside information, which is illegal. Fama ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 presents evidence supporting that efficiency is not met in the strong form and that the semi-strong form is more accurate. This study agrees that stock split announcement are affected in a company stock price according to the semi strong form efficiency which states that stock prices reacts so fast to all public information that no investor can earn an above normal return after the announcement is made. An example would be information concerning a merger. If an investor would buy shares on the announcement day of the merger, the semi strong market efficiency believes that the investor would never be able to earn an above normal return, because adjustments had already been done in the stock price. The market has already been adjusted, so therefore the only way to outperform the market in this case would be by using inside information. METHODOLOGY: This study includes samples of companies that announced a two for one, three for two or reverse stock split announcement. These companies trade their stock in either the NYSE or NASDAQ. The Data for this study was collected from http://finance. yahoo. com/. The announcement date (Day 0) is the day that the stock splits are announced. Every stock return from the companies and from the S&P 500 index was also collected. The Event Study proceeds as following: 1. Historical prices for both the firms and the S&P 500 were collected from day -180 to day +30, being the event period -30 to +30 and Day 0 the announcement day. 2. Holding Period Return was calculated for all the companies as well as for the S&P 500 on the event period days (-180 to +30). HPR was obtained from the following formula: Current Daily Return = (current day close price – previous day close price) / prev. Day close price 3. A regression analysis was performed, being the current firm return the dependent variable and the S&P return the independent variable. The data that was used was the one belonging to the pre-event period (from day -181 to -30). The alpha and the beta were obtained from the regressions. 4. The expected return for each firm as well as for the S&P 500 was calculated: Expected Return = (Alpha + Beta) x S&P actual return 5. Excess Return was obtained from the difference between Actual and Expected Return. Excess Return = Actual Return – Expected Return 6. Average Excess Return (for the Event period) was calculated as: Average Excess Return (AER) = Total Excess Return / n (number of firms in the sample) 7. Cumulative Average Excess Return for the event period (Day -30 to Day +30) was calculated by adding the AER for each day in the event period. 8. A correlation test was done with AER and CAER. The graphs represent AER and CAER plotted against Time. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Table 1 describes 38 companies that split their stock on a two for one basis between December 1, 2006 and May 14, 2007, along with their respective alphas and betas. TABLE 1: TICKER AFAM ACLI COMPANY NAME Almost Family Inc. American Commercial Lines Inc Selective Insurance Group Inc. ZOLL Medical Corp Trimble Navigation Ltd. Albemarle Corp Guess? Inc. Cooper Industries Ltd Jacobs Engineering Group, Inc GameStop Corp Sealed Air Corp. Carlisle Companies Inc CarMax Inc. Harsco Corp. Amphenol Corp Cabot Oil & Gas Corp Nike Inc Cummins Inc Greif Inc DATE ANNOUNCED Dec 11 Feb 06 TRADED INDEX NASDAQ NASDAQ ALPHA 0. 01665915 -0. 000394377 BETA 0. 08530878 2. 602491516 SIGI ZOLL TRMB ALB GES CBE JEC GME SEE CSL KMX HSC APH COG NKE CMI GEF Jan 30 Jan 25 Jan 25 Feb 07 Feb 14 Feb 14 Jan 26 Feb 12 Feb 16 Feb 08 Feb 22 Jan 23 Jan 17 Feb 26 Feb 15 Mar 08 Feb 26 NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE -0. 000319706 0. 004077614 -0. 000187534 0. 0022 37728 0. 001589658 0. 000761731 0. 001074342 0. 000477979 0. 00085897 -0. 001167829 0. 003087277 -0. 001056001 0. 000467862 0. 000826123 0. 001079523 -0. 000720045 0. 02203648 1. 38328513 1. 207411999 1. 321541131 1. 327988752 2. 246784079 1. 308635864 1. 946533548 1. 721660362 1. 172042857 1. 346601558 1. 240366727 1. 658082593 1. 86971211 1. 568927816 0. 553921446 1. 980439113 1. 880200397 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS VLGEA AZZ ATR TSO GEO TSBK VSEC MRO GIL NRG CROX AGN PMFG MIDD SJR PVA GILD PBR STR Village Super Market Inc AZZ incorporated AptarGroup Inc Tesoro Corporation Geo Group Inc Timberland Bancorp Inc. VSE Corp Marathon Oil Corp. Gildan Activewear NRG Energy Inc. Crocs, Inc Allergan Inc PMFG Inc Middleby Corp Shaw Comm CL Penn Virginia CP Gilead Sciences Petroleo Brasileiro Questar CP Mar 21 Apr 09 Apr 18 May 01 May 01 Apr 25 May 01 Apr 25 May 03 May 02 May 03 May 02 May 04 May 04 May 10 May 08 May 08 May 11 May 14 NASDAQ NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NYSE Volume 16 Number 1 0. 00054113 0. 002118906 0. 00174286 0. 00160687 0. 002825174 0. 000615586 0. 001278324 0. 000144992 0. 003089016 0. 00241574 0. 00282982 -0. 000453038 0. 002024817 0. 02028334 0. 001186211 -0. 00050926 . 000009116 -0. 00064373 -. 000142796 1. 351096108 0. 681656728 0. 033542167 0. 973844695 1. 578867077 0. 107464578 2. 457597999 0. 986395517 0. 000111517 0. 316285515 1. 783171812 0. 952984111 0. 039990601 1. 964415725 0. 938731083 1. 1695925 1. 517629839 1. 817825121 . 706466451 Table 2 describes 39 companies that split their stock on a three for two bases between August 23, 2006 and May 15, 2007, along w ith their respective alphas and betas. TABLE 2: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS TICKER NGA EPIQ BAM WMS VIVO IEX ATLS VSEA BWS WCN RSG JCTCF MDCI PFBC CMCSA SWS BKE VOL SSI FMD CRVL GBCI AFG SPAR COMPANY NAME North AM Gav Epiq Systems Inc Brookfield Asset MGT V M S Industries Inc Meridian Bioscience IDEX Cop Atlas America Inc Varian Semicond Brown shoe corp Waste connections Republic SVCS Jewett Cameron Inc Medical Action IND Preferred Bank LA Comcast Cp A SWS Group Inc Buckle Inc Volt Info Science Inc Stage Stores Inc First Marblehead Corp Corvel CP Glacier Bancorp American Financial Group Spartan Motors Inc DATE ANNOUNCED May 15 May 10 May 02 May 07 April 19 April 04 April 27 April 24 March 08 Feb 12 Feb 01 March 13 Jan 09 Jan 25 Feb 01 Nov 30 Dec 12 Dec 20 Jan 09 Nov 10 Nov 13 Nov 29 Nov 15 Nov 02 TRADED INDEX NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NASDAQ Volume 16 Number 1 ALPHA -0. 001032797 0. 001183339 0. 000859066 0. 002219704 0. 0011736 22 0. 000243421 0. 000488161 0. 001788461 0. 000592124 -0. 000187979 -0. 000441765 0. 000124622 0. 001559912 0. 000301413 0. 001381697 0. 000530857 -. 000641295 0. 001338437 0. 000540995 0. 004563185 0. 003763906 0. 000329484 0. 000736169 0. 003450361 BETA 1. 997738247 1. 038735222 1. 251257403 1. 094503791 1. 550013068 1. 509306631 0. 38871871 2. 207840195 2. 599167684 0. 92152423 0. 761431985 -0. 512126102 1. 004029551 0. 867741293 0. 927831638 2. 477624454 1. 602298009 2. 358292804 1. 756904894 0. 830932855 2. 113368174 1. 743070573 0. 936337426 0. 519840545 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS SBIB AEO CTBK IRM PERY EAT AME WGNB ACAP UBSH EML MCBI CASS CCFH Sterlin Bancshares American Eagle Outfitters Inc Trico Bankshares Iron Mountain Inc Perry Ellis International Brinker International Inc Ametek Inc WGNB Corp American Physicians Cap Union Bankshares Corp Eastern Co Metrocorp Bancshares Cass Information Systems CCF Holding Co Oct 31 Nov 14 Nov 08 Dec 07 Nov 21 Nov 02 Oct 25 Sep 18 Sep 26 Sep 07 Sep 28 Aug 04 Jul 24 Aug 23 NASDAQ NYSE NASDAQ NYSE NASDAQ NYSE NYSE NASDAQ NASDAQ NASDAQ AMEX NASDAQ NASDAQ NASDAQ Volume 16 Number 1 0. 001127642 0. 003616084 0. 001058586 -0. 0000284 0. 002794647 -0. 000020642 0. 00005895 0. 00024115 0. 000317657 -0. 00058103 0. 000419721 0. 000941528 0. 003356848 0. 002118726 1. 165421403 1. 593723526 1. 432917191 0. 627633001 0. 919648907 0. 886164833 1. 31003146 -0. 00226624 0. 066171033 1. 663620313 0. 22686963 0. 121493122 0. 113211419 -0. 08732041 Table 3 describes 10 samples of companies that split their stock on a reverse basis between August 27, 2003 and September 15, 2008, along with their respective alphas and betas. TABLE 3: TICKER OPWV ERIC IWOV SIG COMPANY NAME Openwage Systems LM Ericcson Telephone Co Interwoven Inc Signet Jewelers LTD DATE ANNOUNCED Oct 09 Oct 18 Aug 27 Sept 11 TRADED INDEX NASDAQ NASDAQ NASDAQ NYSE ALPHA 0. 00680888 -0. 006696905 0. 001398048 -0. 000938713 BETA 2. 51286756 1. 949328188 1. 469236928 0. 891488791 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS BFLY REV CNXT IACI TMTA ERIC Bluefly Inc Revlon Inc Conexant Systems Inc. IAC/ InterActiveCorp Transmeta Corporation LM Ericcson Telephone Co April 3 Sep 15 June 2 June 09 Aug 15 April 09 NASDAQ NYSE NASDAQ NASDAQ NASDAQ NASDAQ Volume 16 Number 1 -0. 00449535 0. 000925943 -0. 004900502 -0. 001442165 -0. 002052045 -0. 004006643 0. 070525685 0. 902722337 1. 73193906 0. 982384488 1. 265168622 -0. 16807384 To test for semi-strong market efficiency the following null and alternative hypotheses are used for the three stock split samples: H10: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information on the announcement date. H11: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively affected by this type of information on the announcement date. H20: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information around the announcement date as defined by the event period. H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively or negatively affected around the announcement date as defined by the event period. QUANTITATIVETESTS AND RESULTS: Did the market react to the announcements of regular two for one, the regular three for two, and the reverse stock splits? Was the information surrounding the event significant? A’priori, one would expect there to be a significant difference in the Actual Average Daily Returns (Day -30 to Day +30) and the Expected Average Daily Returns (Day -30 to Day +30) if the information surrounding the event impounds new, significant information on the market price of the firms' stock. If a significant risk adjusted difference is observed, then we support our hypothesis that this type of information did in fact significantly either increase or decrease stock price. To statistically test for a difference in the Actual Daily Average Returns and the Expected Daily Average Returns over the event period day -30 to day +30, we conducted a paired sample t-test for the three samples and found a significant difference at the 5% level between actual average daily returns and the risk adjusted expected average daily returns. Average Excess Return (AER) graphs are shown below. Results here support the alternate hypothesis H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly affected around the announcement date as defined by the event period. This finding supports the significance of the information around the event since the market’s reaction was observed. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Is it possible to isolate and observe the samples’ daily response to the announcement from day -30 to day +30? If so, at what level of efficiency did the market respond to the information and what are the implications for market efficiency? Another purpose of this analysis was to test the efficiency of the market in reacting to the three samples of stock split announcements. Specifically, do we observe weak, semi-strong, or strong form market efficiency as defined by Fama, 1970, in the efficient market hypothesis? The key in the analysis is to determine if the AER and CAER are significantly different from zero or that there is a visible graphical or statistical relationship between time and either AER or CAER. T-tests of AER and CAER both tested different from zero at the 5% level of significance. Likewise, observation of the following CAER Charts (graphs of CAER from day –30 to day +30 for each sample) confirm the significant positive reaction of the risk adjusted returns for the two forward split samples up to 27 pre-announcement and a significant negative reaction for the reverse split sample up to 30 days prior to the stock split announcement. Two for one stock split announcements: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Three for two split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Reverse split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 There are three forms of market efficiency as defined by Fama, which are strong, semi-strong and weak form efficiency. Observation of the CAER graphs against time for two for one and three for two stock split announcements shows a positive reaction twenty seven days prior to the announcement date. Reverse splits are normally done in order make the stock more appealing for investors with an unusual low market price. (Lawson) Also, reverse splits might be used in order to reduce the number of shareholders of the company. As an example if a 1-10 reverse stock split is made effective, the investor will have ten times less shares than before, but at ten times the price. In the reverse split case, the CAER graph suggests that return falls from day -30 until day -15, while then increasing until day 10. After day 10 the stock starts to level off. CAER graphs for two for one and three for two stock splits show how excess return rises up to 27 days prior to the announcement day. From Day 0 until Day 30 stock returns start to level off. This evidence supports Hypothesis H10, which states that stock price is not affected by this type of information on the announcement date. The stock return has already been adjusted before the stock split announcement is made. The investor cannot outperform the market by using public information. The price has already been affected by the announcement of two for one and three for two stock split announcement. After the announcement day, from days 6 to 16 the return goes up, which is caused by investors that react favorably to the announcement by buying more shares. After this small increase, stock price decreases and levels off. The CAER graphs support the idea that the market is semi- strong form efficient. For the samples analyzed, public information does not affect stock price on the announcement day. Reaction is observed up to 27 days prior to the announcement date which suggests that to be able to â€Å"outperform† the market you must be aware of inside information. CONCLUSION: The purpose of this study was to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS REFERENCES: Volume 16 Number 1 Asquith, Paul, Paul Healy, and Krishna Palepu. â€Å"Earnings and Stock Splits. † The Accounting Review 64 (1989): 387-403. Barker, C. A. , â€Å"Effective Stock Splits,† Havard Business Review, XXXIV (January-February, 1956), pp. 101-106 Easely, David, Maureen O'hara, and Gideon Saar. â€Å"How Stock Splits Affect Trading: a Microstructure Approach. † The Journal of Financial and Quantitative Analysis 36 (2001): 25-51. Fama, Eugene F. Efficient Capital Markets: a Review of Theory and Empirical Work. † The Journal of Finance, 25 (1970): 383-417. 9 Dec. 2007 . Fama, Eugene F. , Lawrence Fisher, Michael C. Jensen, and Richard Roll. â€Å"The Adjustment of Stock Prices to New Information. † International Economic Review 10 (1969) : 1-21. 9 Dec. 2007 . Ikenberry, David L. , Graeme Rankine, and Earl K. Stice. â€Å"What do stock splits really signal?. † Journal of Financial and Quantitative Analysis 31. n3 (Sept 1996): 357(19). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Johnson, Keith B. â€Å"Stock Splits and Price Change. † The Journal of Finance 21 (1966): 675-686. 9 Dec. 2007 . Lakonishok, Josef, and Baruch Lev. â€Å"Stock Splits and Stock Dividends: Why, Who, and When. † The Journal of Finance 42 (1987): 913-932. Lamoureux, Christopher G. , and Percy Poon. â€Å"The market reaction to stock splits. † Journal of Finance 42. n5 (Dec 1987): 1347(24). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Lawson, Michael J. â€Å"Reverse Stock splits: The Fiduciary's obligations under State LAw. † California Law Review 63 (1975): 1226-249. Malkiel, Burton G. â€Å"Is the stock market efficient?. † Science 243. n4896 (March 10, 1989): 1313(6). General OneFile. Gale. Longwood University. 9 Dec. 2007 . ASBBS Annual Conference: Las Vegas February 2009

Free Essays on Around The World In 80 Days

Around the World in Eighty Days by Jules Verne is a novel about the adventures of Phileas Fogg and his servant Passerpartout. One day while Phileas Fogg is with some friends, he reads in a newspaper that it is possible to travel around the world in eighty days. No one believes this is true, except Phileas. Then Phileas bets them that he could make the journey in eighty or under days, and then leaves along with his servant immediately. The thing Jules Verne concentrates most on during Around the World in Eighty Days is how precise Phileas Fogg is. In the beginning, Mr. Fogg fires his servant because the water he brought him to shave in was four degrees of the correct temperature. I thought this was quite comic. When Mr. Fogg hires Passerpartout, he instructs him exactly when to prepare breakfast, exactly how hot his water should be and many other silly things. When Phileas is talking to his friends after making his bet he told them exactly when he would return and exactly where he would be. One thing about Around the World in Eighty Days is this entire notion of taking eighty days to travel around the world. When Jules Verne wrote this book, he probably had no idea about how much the world would advance. Today, with the technology we have, we can physically travel around the world in about a day. But also today, we have the power to travel around the world in about eight seconds with computers.... Free Essays on Around The World In 80 Days Free Essays on Around The World In 80 Days Around the World in Eighty Days by Jules Verne is a novel about the adventures of Phileas Fogg and his servant Passerpartout. One day while Phileas Fogg is with some friends, he reads in a newspaper that it is possible to travel around the world in eighty days. No one believes this is true, except Phileas. Then Phileas bets them that he could make the journey in eighty or under days, and then leaves along with his servant immediately. The thing Jules Verne concentrates most on during Around the World in Eighty Days is how precise Phileas Fogg is. In the beginning, Mr. Fogg fires his servant because the water he brought him to shave in was four degrees of the correct temperature. I thought this was quite comic. When Mr. Fogg hires Passerpartout, he instructs him exactly when to prepare breakfast, exactly how hot his water should be and many other silly things. When Phileas is talking to his friends after making his bet he told them exactly when he would return and exactly where he would be. One thing about Around the World in Eighty Days is this entire notion of taking eighty days to travel around the world. When Jules Verne wrote this book, he probably had no idea about how much the world would advance. Today, with the technology we have, we can physically travel around the world in about a day. But also today, we have the power to travel around the world in about eight seconds with computers....

Pantheon Essays - Domes, Pantheon, Rome, Pantheon, Free Essays

Pantheon Essays - Domes, Pantheon, Rome, Pantheon, Free Essays Pantheon Pantheon, temple dedicated to all the gods. The Pantheon of Rome is the best-preserved major edifice of ancient Rome and one of the most significant buildings in architectural history. In shape it is an immense cylinder concealing eight piers, topped with a dome and fronted by a rectangular colonnaded porch. The great vaulted dome is 43.2 m (142 ft) in diameter, and the entire structure is lighted through one aperture, called an oculus, in the center of the dome. The Pantheon was erected by the Roman emperor Hadrian between AD 118 and 128, replacing a smaller temple built by the statesman Marcus Vipsanius Agrippa in 27 BC. In the early 7th century it was consecrated as a church, Santa Maria ad Martyres, to which act it owes its survival (see Architecture). The term pantheon also refers to a building that serves as a mausoleum or memorial for eminent personages of a country. The most famous example is the Church of Sainte Genevi?ve in Paris, designed (1764) in the classical style by the French architect Jacques Germain Soufflot. It was later secularized, renamed the Pantheon, and used as a temple to honor the great of France. Built in Rome, AD c.118-28, in the reign of Emperor Hadrian, the Pantheon is the best preserved and most impressive of all Roman buildings. It has exerted an enormous influence on all subsequent Western architecture. The Pantheon asserts the primacy of space as contained volume over structure in the most dramatic fashion. From the time of the Pantheon onward, Roman architecture was to be one of spatial volumes. The Pantheon was designed and built by Hadrian to replace an earlier temple established by Agrippa (the misleading inscription in the entrance frieze refers to this earlier edifice). The existing structure is an immense round temple covered by a single dome, fronted by a transitional block and a traditional temple portico of eight Corinthian columns carrying a triangular pediment. Originally, the awkward juxtaposition of these three sections was softened by a rectangular forum in front of the temple. The temple is deceptively simple in appearance, consisting of a circular drum carrying a hemispherical dome with an inside diameter of 43.2 m (142 ft). The proportions are such that, if extended to the floor, the curve of the inner surface of the dome would just "kiss" the floor; thus, a perfect sphere is contained, a symbolic reference to the temple's dedication to all the godspan ("all") plus theos ("god")in the sphere of the heavens. The drum and dome are of solid monolithic concrete, reinforced with bands of vitrified tile. The vertical gravity loads are collected and distributed to the drum by relieving arches incorporated in the concrete. The wall of the drum, 6.1 m (20 ft) thick, is hollowed out by a series of alternately rectangular and curved niches or recesses. Thus, the drum is transformed into a series of massive radial buttresses, lessening its deadweight without decreasing its strength. The weight of the upper sections, and thus the magnitude of the thrusts, was reduced by varying the density of the filler in the concrete, from pumice in the upper dome to tufa in the middle sections and dense basalt in the foundations. The visually compressive effect of the dome on the inside is lessened by deep coffers (indentations) radiating down from the central oculus ("eye")9.1 m (30 ft) in diameterthe only window in the building. Because the oculus is open to the sky, the floor is slightly concave with a drain at the center. The building was converted into a church dedicated to Mary (Santa Maria Rotunda) in 609, and therefore it escaped destruction. It is the only Roman building to retain its marble revetments, mosaics, and stuccowork. The huge bronze doors (7 m/24 ft high) are the largest Roman doors to survive in place and remain in use. Leland M. Roth Bibliography: Boethius, Axel, and Ward-Perkins, J. B., Etruscan and Roman Architecture (1970); MacDonald, William L., The Pantheon (1976); Ward-Perkins, J.B., Roman Imperial Architecture (1981).

A Quick Tour of the First McDonalds

A Quick Tour of the First McDonald's Founder Ray Kroc’s first McDonald’s, known as Store #1, opened on April 15, 1955, in Des Plaines, Illinois. This first store sported a red-and-white tile building and the now very recognizable large Golden Arches. The first McDonald’s offered lots of parking (no inside service) and featured a simple menu of hamburgers, fries, shakes, and drinks. Origins of the Idea   Ray Kroc, the owner of Prince Castle Sales, had been selling Multimixers, machines that allowed restaurants to mix five milkshakes at one time, since 1938. In 1954, 52-year-old Kroc was surprised to learn of a small restaurant in San Bernadino, California that not only had five Multimixers but used them nearly non-stop. Before long, Kroc was on his way to visit. The restaurant that was using the five Multimixers was McDonald’s, owned and operated by brothers Dick and Mac McDonald. The McDonald brothers had originally opened a restaurant called McDonald’s Bar-B-Q in 1940 but revamped their business in 1948 to focus on a more limited menu. McDonalds sold only nine items, which included hamburgers, chips, slices of pie, milkshakes, and drinks. Kroc loved the McDonald’s concept of a limited menu with fast service and convinced the McDonald brothers to broaden their business with nation-wide franchises. Kroc opened his first McDonald’s the following year, on April 15, 1955, in Des Plaines, Illinois. What Did the First McDonald’s Look Like? The very first of Ray Kroc’s McDonald’s was designed by architect Stanley Meston. Located at 400 Lee Street in Des Plaines, Illinois, this first McDonald’s had a red-and-white tile exterior and large Golden Arches that flanked the sides of the building. Outside, a large red and white sign announced the â€Å"Speedee service system.† Ray Kroc wanted quality with quick service and so the first McDonald’s character was Speedee, a cute little guy with a hamburger for a head. Speedee stood on top of that first sign, holding another sign advertising â€Å"15 cents† – the low cost of a hamburger. (Ronald McDonald would replace Speedee in the 1960s.) Also outside were plenty  of parking spots for customers to wait for their car-hop service (there was no inside seating). While waiting in their cars, customers could order from the very limited menu that included hamburgers for 15 cents, cheeseburgers for 19 cents, French fries for 10 cents, shakes for 20 cents, and all other drinks for just 10 cents. Inside the first McDonald’s a crew of workers, wearing dark slacks and a white shirt covered by an apron would prepare the food quickly. At the time, fries were made fresh from potatoes and Coca Cola and root beer were drawn directly from a barrel. The McDonalds Museum The original McDonald’s underwent a number of remodels over the years but in 1984 it was torn down. In its place, a nearly exact replica (they even used the original blueprints) was built in 1985 and turned into a museum. The museum is simple, perhaps too simple. It looks just like the original McDonald’s, even sporting mannequins pretending to work at their stations. However, if you want to actually eat McDonald’s food, you have to go across the street where a modern McDonald’s awaits your order. However, you may have more fun by visiting these eight amazing McDonalds restaurants. Important Dates in McDonald’s History 1958 – McDonald’s sells its 100 millionth hamburger 1961 – Hamburger University opens 1962 – The first McDonald’s with indoor seating (Denver, Colorado) 1965 – There are now over 700 McDonald’s restaurants 1966 – Ronald McDonald appears in his first TV commercial 1968 – The Big Mac is first offered 1971 – Ronald McDonald gets friends – Hamburglar, Grimace, Mayor McCheese 1975 – The first McDonald’s drive-thru opens 1979 – Happy Meals introduced 1984 – Ray Kroc dies at age 81

New deveopment in textile industry - article summary

New deveopment in textile industry - summary - Article Example More glamorous applications include embedding gold nanoparticles into natural fabrics such as wool. The gold nanoparticles impart soft colours from pale soft greens, to browns and beiges, depending on the particle size and shape. These colours are stable, and may even provide some antibacterial properties to the fabrics, as an added bonus! Across the globe a tremendous amount of research is taking place in electrospinning techniques. The spun, polymer-based nanofibres can be loaded with different additives which could be nanoparticles, enzymes, drugs or catalysts. Some combinations can be antibacterial and sprayed on to wounds as a kind of healing web, others can be conductive or even form filters or membranes. Scientists are also working on nanoelectronic devices that can be embedded into textiles to provide special support systems for individuals in dangerous professions or sports. Some garments can now provide life-signs monitoring, internal temperature monitoring, chemical sensing and also power generation and storage to enable communication with the outside world. Garments with this kind of technology can be vital for the safety of say firefighters working in dangerous situations in isolation from their colleagues, or even for skiers or their rescuers to give early warning signs of hypothermia. In some establishments, research is ongoing into man-made nanofibres where clay minerals, carbon nanotubes or nanoparticulate metal oxides are used to impart new properties. These properties provide halogen-free, flame retardancy for a fabric, increased strength and shock-absorbency, heat and UV radiation stability, and even brighter colouration! Other work is ongoing in the very exciting area of inkjet printing onto textiles. This is opening up many possibilities, not just for the customised or localised printing of textiles to an individual

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Dance 100 - Essay Example While the tune yard dance has human voice in the sound, dancing in the rain only has a background tune. Dancing in the rain presents numerous elements of connection concept, where the dancers move close and away from one another throughput the dance. Throughout the dance sequence connection becomes increasingly clear as the dancers move across the entire dancing floor. There are momentary numerous instances when the smooth movement of the dancers occurs with instant stops of the movement. The body movements of the dancers remain extremely unique and display immense mastery of the movement. Extensions of the arms and the sliding movements of the legs appear to be enhanced by the occurrence of water on the ground, which enables the movement. Tune yards present the concept of lead follow in performing the dance. A single dancer appears in front of the rest as the leader with the remainder of the dancers following dance moves which the leader utilises. Throughout the dance movements of the dancers within the dance always has a leading individual with the others following the movements developed by the leader. The dancers contribute significantly to the music through singing and making other sounds which create the music. The movement of the dancers is well coordinated and the use the same moves for the entire group throughout the dance. This appears to make the dance coordinated and well planned. Choreographers of the dance appear to have selected different scenes which appear to fit the setting of the dance being performed. The beginning of the dances clearly identify the setting of dance through identifying the location which the dance takes place. The uniformity of the tune yards dance is presented through the dancers being dressed in a uniform dress-code. Dancing in the rain, however, presents dancers doing independent dance styles and the dancers are also dressed in different clothing. The patterns and coordination in the two dances can be

Early western civilization Essay Example | Topics and Well Written Essays - 1750 words

Early western civilization - Essay Example Moving north from the First Cataract, the Nile flows through a comparatively narrow valley. The lands along the banks are characterized by a series of natural basins (called hods), which have been altered by human engineering for the last 7,000 years. As one nears the Delta in the north, the floodplain widens and the basins become less distinct, until in the Delta itself the land is divided not into basins, but into islands and peninsulas formed by the alluvial deposits of soil over thousands of years. In very ancient times "Lower Egypt" began south of the Delta itself, including the broader floodplain from Memphis north. The most important historical-geographic feature of the Lower Nile, of course, is its annual flood, which following the summer rains in Ethiopia, bursts into Egypt in August and typically continues for two months, leaving both destruction and riches in its wake. The flood, although annual, is not uniform. When there is drought in the highlands to the south, the flood may be a comparative trickle. However, in years of abundant rainfall in the watershed, the flood can become a torrent, washing everything before it. It is now thought that early populations, which ventured into the valley of the Nile below the First Cataract, were more concerned to build dikes to protect themselves and their herds against this possibility of a destructive flood than to irrigate crops (Atkins 32; Parker, 7-8). The fact that cattle were important in early Egyptian history brings up another point about the environment in antiquity. In the earliest days of Egyptian development, there was no Sahara Desert. The lands that now form the Sahara enjoyed savanna, rather than desert environments. And as we have already seen, the Saharan peoples had been pioneers of cattle domestication. Until about 2300 BCE, that is well into Pharaonic times, the Lower Nile flowed through an area of rainfall, which supported thriving cattle herding societies. Not only cattle raising, but also fishing and agriculture have a long history in the Nile valley. The upper Nile, in what is now the country of Sudan, was one of the areas that developed fishing settlements during the long era of the African Aquatic Tradition. Since some of these Late Stone Age communities used grinding stones to process wild grains, which they harvested in the fertile alluvial plains, it seems likely that it was their descendants who became the first full time farmers in this part of Africa. Between 5000 BCE and 4000 BCE farming and cattle keeping replaced hunting and fishing as the main ways of life along the Nile. Of course, people continued to both hunt and fish, but they were becoming economically and socially dependent upon cattle raising and farming. Picture, if you can, what the Nile valley (of modern-day Egypt) must have been like in the 2,000 years between the early Neolithic and the beginning of the unified kingdom under the pharaoh Narmer/Menes in about 3,000 BCE. Had you traveled the region early in the period, your journey would have taken you along the higher ground of the valley, inland of the river itself, where encampments of cattle herders or small farming settlements would have hosted you. As you traveled the length of the area, both cultural and linguistic differences would have been apparent, with life centering

Leadership Styles Of Director Of Social Services Dissertation - 1

Leadership Styles Of Director Of Social Services - Dissertation Example In 2011, the International Association of Gerontology and Geriatrics confirmed this, further adding that there is a crisis of leadership in nursing home practice because employment for care professionals in these institutions are often equated with low prestige, leading to inadequate supply of professionals capable of meeting the demands of nursing home residents (Tolson, et al., p. 185). This trend is unfortunate because studies demonstrate that knowledgeable and effective leaders are critical in addressing challenges in the operation of a healthcare establishment such as those related to organizational culture and structure (Grabowski et al., (2010). There is an increase in scholarly attention with respect to the relationship between leadership style and the quality of nursing care, but empirical studies are still in their infancy. This theme is, of course, comprehensively covered in other fields, particularly in business and healthcare industry. However, there is an imperative for specificity. Effective social services administration calls for a model or a standard leadership framework that would lead to the identification of managerial abilities, strategies, and behavior that positively impacts the incidence and quality of organizational/institutional outcomes. So the question of interest involves whether leadership style(s) positively impacts the well-being of nursing home residents. Research indicates that substantive control by the administrative leader on the care, quality, and services have the significant impact on the psychosocial well-being of nursing home residents (Allen, 2008). Success in nursing home care depends on the performance of the management team.

Early western civilization Essay Example | Topics and Well Written Essays - 1750 words

Early western civilization - Essay Example Moving north from the First Cataract, the Nile flows through a comparatively narrow valley. The lands along the banks are characterized by a series of natural basins (called hods), which have been altered by human engineering for the last 7,000 years. As one nears the Delta in the north, the floodplain widens and the basins become less distinct, until in the Delta itself the land is divided not into basins, but into islands and peninsulas formed by the alluvial deposits of soil over thousands of years. In very ancient times "Lower Egypt" began south of the Delta itself, including the broader floodplain from Memphis north. The most important historical-geographic feature of the Lower Nile, of course, is its annual flood, which following the summer rains in Ethiopia, bursts into Egypt in August and typically continues for two months, leaving both destruction and riches in its wake. The flood, although annual, is not uniform. When there is drought in the highlands to the south, the flood may be a comparative trickle. However, in years of abundant rainfall in the watershed, the flood can become a torrent, washing everything before it. It is now thought that early populations, which ventured into the valley of the Nile below the First Cataract, were more concerned to build dikes to protect themselves and their herds against this possibility of a destructive flood than to irrigate crops (Atkins 32; Parker, 7-8). The fact that cattle were important in early Egyptian history brings up another point about the environment in antiquity. In the earliest days of Egyptian development, there was no Sahara Desert. The lands that now form the Sahara enjoyed savanna, rather than desert environments. And as we have already seen, the Saharan peoples had been pioneers of cattle domestication. Until about 2300 BCE, that is well into Pharaonic times, the Lower Nile flowed through an area of rainfall, which supported thriving cattle herding societies. Not only cattle raising, but also fishing and agriculture have a long history in the Nile valley. The upper Nile, in what is now the country of Sudan, was one of the areas that developed fishing settlements during the long era of the African Aquatic Tradition. Since some of these Late Stone Age communities used grinding stones to process wild grains, which they harvested in the fertile alluvial plains, it seems likely that it was their descendants who became the first full time farmers in this part of Africa. Between 5000 BCE and 4000 BCE farming and cattle keeping replaced hunting and fishing as the main ways of life along the Nile. Of course, people continued to both hunt and fish, but they were becoming economically and socially dependent upon cattle raising and farming. Picture, if you can, what the Nile valley (of modern-day Egypt) must have been like in the 2,000 years between the early Neolithic and the beginning of the unified kingdom under the pharaoh Narmer/Menes in about 3,000 BCE. Had you traveled the region early in the period, your journey would have taken you along the higher ground of the valley, inland of the river itself, where encampments of cattle herders or small farming settlements would have hosted you. As you traveled the length of the area, both cultural and linguistic differences would have been apparent, with life centering

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

Response - Essay Example he globe may be different from that acquired in any other part of the world; hence people should be hired based upon the expertise that they have learned. People gain expertise and knowledge based upon the different culture and their native work environment hence they display their skills much better in those environments in which they have gained those skills. Equal opportunity employer will always be able to gain better employees because of lack of discrimination hence it is decisive that people with diverse backgrounds should be hired. Question: It is very important to have a diverse staff because everyone can communicate with their own race in case they dont understand the language and everyone could help each other out with the tasks and supports one another. The intern Im at is diverse with employees who are Hispanic, Polish, and Swedish. Everyone supports one another and gets along. So I think is a great idea that we should have a diversify place of unity and peace in the work environment.  Ã‚   Answer: Diverse staff helps in better communication through proper conveyance of objective being laid down by the top management; hence this helps in better goal congruence and much greater success for an organization. Question: International companies definitely hire people of different ethnicity so they can have translators. Many companies are expanding outside of their region to do business worldwide. This is why diversity is needed in the workplace. Answer: Multinational organizations hire people from different ethnic background because it helps in better deliverance of the goals to the different employees hired. Besides that, people from different ethnic backgrounds can be transferred to any office of the same country in any other region and this would also help in reduction of costs of hiring staff in that particular region (Expertise may also flow from one region to another with ease). Question: In todays world, everything is very cultural. People travel

Three Dreams, One Future Essay Example for Free

Three Dreams, One Future Essay Closing my eyes, a quaint structure amongst a vast green field and a clear blue sky paints itself in my mind. On the wooden porch, it is the serenity of an elderly couple, gently rocking amongst a calm breeze, silently content in each others company that depicts the final years of my journey. Looking back then, I hope to have gained what I strive for today: the security of a successful career, the warmth in a loving companion, and the pride from cherished ones. Today, I awake to see my efforts directed at a single goal; being accepted into a prestigious university. This drive is emphasized by the illuminated prospects of what a successful career can offer, the doors it can open. Yet it also propelled by the momentum of witnessing the struggles of being chained to an inadequate job. A career is what I comprehend to be the code of the outcome of ones life, the security to your future and this monumental impact is why I aspire to achieve an accomplished career. What good is security if you have nobody to share it with? Finding this undisputable, indescribable, irrevocable love is not a meager endeavor or false hope, but rather a way of living. To laugh with freedom, live with dreams and wear your heart on your sleeve permits a life with great highs but also daring lows. Like the striking crash of tides, only a soul-mate is capable of drawing out such powerful emotions. Someday, I long to have experienced this brilliance in life. Life is beautiful but devastating. Too often do you hear the cries of famine, the shots of war and the agony of poverty. There is little in your control except for the ripple effect of your very own actions. If even for the briefest of moments, I am capable of igniting a smile on a loved ones face, I will feel joy. Perhaps it is selfish, but if my works and efforts have the influence to provide delight to others then I will feel a sense of honour. Because amongst the tragedies and anguish of living, I hold a key to bringing enlightenment and will undeniably treasure this gift. The promise of a bright career, passionate partner, and spreading happiness is what careens me to trek forward through this wayward world. If I can look back in time on that dainty porch, I will have know to cherish three dreams but one future; my future.

The Political Economic Social Cultural And Technological Environment Marketing Essay

The Political Economic Social Cultural And Technological Environment Marketing Essay It is important for these reasons: By making effective use of PEST Analysis, you ensure that what you are doing is aligned positively with the forces of change that are affecting our world. By taking advantage of change, you are much more likely to be successful than if your activities oppose it. Good use of PEST Analysis helps you avoid taking action that is condemned to failure for reasons beyond your control. PEST is useful when you start operating in a new country or region. Use of PEST Analysis helps you break free of unconscious assumptions, and helps you quickly adapt to the realities of the new environment. (http://www.mindtools.com/pages/article/newTMC_09.htm) Our mission: to inspire and nurture the human spirit one person, one cup and one neighborhood at a time. Starbucks Objective †¢ to establish Starbucks as the most recognized and respected brand in the world. Business Ethics and Compliance is a program that supports Our Starbucks Mission and helps protect our culture and our reputation by providing resources that help partners make ethical decisions at work. The program develops and distributes awareness materials, including the  Standards of Business Conduct; facilitates legal compliance and ethics training; investigates sensitive issues such as potential conflicts of interest; and provides additional channels for partners to voice concerns. Partners are encouraged to report all types of issues or concerns to the program through their choice of the offered  communication channels. PESTLE stands for: Political The current and potential influences from political pressures Economic The local, national and world economy impact Social The ways in which changes in society affect us Technological How new and emerging technology affects our business? Legal How local, national and world legislation affects us Environmental The local, national and world environmental issues The PESTLE analysis will be used to identify and understand the important factors Starbucks must consider in all areas of the business. Political: * Taxation policy high taxation imposed on farmers in those countries producing the coffee bean will usually mean Starbucks pay a higher price for the coffee they  purchase. Any fluctuations in taxation levels in the industry are almost certainly ultimately passed on to the consumer. Recently (June 13, 2003) Tanzanias Minister of  Finance harmonized and rationalized local government taxation to boost rural  productivity of the coffee bean. Tax was lowered for these small holder farmers and this saving will have been passed on to purchasers of coffee like Starbucks. * Deregulation A decade ago, the USA pulled out of the ICA (international Coffee Agreement) that set export quotas for producing nations and kept the price of coffee fairly stable. Coffee quotas and price controls ended. Since the deregulation farmer shave suffered and their earnings have dropped. Many have struggled to make a living so have given up. * International trade regulations/tariffs Trade issues will affect Starbucks  predominantly when exporting and importing goods. When another countrys government imposes a tariff it not only results in an efficiency loss for Starbucks but large income transfers can become inconsistent with equity. This extra charge can turn a bargain into a rip-off. Also, since 9/11, trade relations have been adversely affected  between the USA and some other countries. * Government stability Starbucks should thoroughly investigate the political stability of any country they plan to expand to. Changes in government can lead to changes in taxation and legislation. The forthcoming American elections may have an effect on Starbucks as new legislation or new or existing government may bring in taxes. Also, those countries in political turmoil or civil war (e.g. Zimbabwe at present) should be approached with great caution when considering new ventures. * International stability The international economy must be brought into consideration as it can affect Starbucks sales and markets. The aftermath of 9/11 was an example of an economic downturn that affected the world market. If the world market is in a slump it is not usually the ideal time for a business to look at grand expansion. * Employment law A reduction in licensing and permit costs in those countries  producing the coffee bean for Starbucks would lower production costs for farmers. This saving would in turn be passed on to the purchaser. Economic: * Interest rates A rise in interest rates means investment and expansion plans are put-off resulting in falling sales for Starbucks and their suppliers. Also mortgage repayments rise so consumers have less disposable income to spend on luxury  products such as coffee. Low interest rates should have the opposite effect. * Economic Growth If growth is low in the nation of location of Starbucks then sales may also fall. Consumer incomes tend to fall in periods of negative growth leaving less disposable income. Consumer confidence in products can also fall if the economic mood is low * Inflation rates Inflation is a condition of increasing prices. It is measured using the Retail Price Index (RPI) in the UK. Business costs will rise for Starbucks through inflation, as will shoe-leather costs as they shop around for new best prices of  materials, menu costs will rise as Starbucks have to create new price lists. Also, uncertainty is created when making decisions not least because inflation redistributes money from lenders to borrowers. A firm that borrows L1000 during an inflation  period will pay back less in real terms as the value of this money will decline over  the period. * Competitors pricing Competitive pricing from competitors can start a price war for  Starbucks that can drive down profits and profit margins as they attempt to increase, or at least maintain, their share of the market. * Globalization Globalization of the coffee market has meant farmers of the bean now earn less money than they used to. This can result in a decrease of people willing to do it for a living, which will mean a decrease in coffee produced, resulting in a drop in Starbucks supply levels and probably profits. * Exchange rates Starbucks are affected by exchange rates when dealing with international trade. If the value of the currency falls in the country of a coffee supplier  this enables Starbucks to get more for their $ or L when importing the goods to their  country. This saving can be passed along to the customer. Exchange rates are forever  changing throughout the world in todays market. Social: * Population demographics Population demographics are a very important factor for  Starbucks as they identify what parts of the population they need to aim their product sat or which parts of the population they need to encourage to visit their stores more than they presently do. Looking at the table in the case study demonstrating the  percentage of the age groups that drink coffee or specialty coffee it can be seen that the age groups that Starbucks should be aiming their marketing at are the people  between 35 and 54. They should consider targeting the 18-24 age group as they drink  the least amount comparatively and by encouraging this segment to choose Starbucks coffee now, there is a chance they may continue to drink it long into the future. * Income distribution Where income is distributed is another factor that Starbucks should look at as this also demonstrates the ideal place to aim their marketing or to locate their stores. Coffee is more of a luxury product so it is those people/places with the most amount of disposable income to spend that should be targeted the most intensely. * Attitude to work Starbucks would not want to locate to an area where the local  population have a poor attitude to work. Recruitment would be difficult, training arduous, and staff turnover would be high. Attitudes to work are important in other  ways. A large number of workers in large cities now go out for their lunch rather than use an internal canteen. Starbucks can use this to their advantage and promote the shop as a place where people can meet up and so it will mean that they will get larger amount of people in their stores at this time of the day. * Standard of education/skills When Starbucks are deciding upon new premises they must look at the standards of education and skills locally. They must be sure there are  people who live there with sufficient skills to ensure successful operation of the  business, or at least the potential to learn that comes with a good education. * Working conditions/safety Those people with the most disposable income, e.g. young single professionals etc, will be accustomed to high standards. Starbucks must ensure its shops are clean and comfortable, service is of the highest order and health and safety issues are fully addressed * Location Transport needs to the premises must be considered for both staff and customers. Easy access is vital to ensure there is no excuse for staff to arrive late or  for customers not to visit. * Age distribution Research shows the average age of the population is getting older  and birth rates are stagnating. Starbucks is presently aiming its product at young  people but maybe these views will change in the long-term as the market proportion for young people diminishes. The most profitable way forward may be to widen their  target market despite the risk of alienating present customers. * Health consciousness Good health and foodstuffs associated with healthy living are important I todays market place, as this is a trend that is occurring at the moment in western societies. Starbucks can use this information when deciding the additional  products to sell, as well as coffee, as a large number of their customers are looking for  healthy alternatives to cakes and biscuits, which have been associated with coffee in the past. Technological: * IT development Starbucks is always looking to develop and improve its Internet facilities. Starbucks launched its first-generation e-commerce Web site in 1998. In late1999, Starbucks decided the site needed a major upgrade to enable new functionality and prepare for long-term growth. To achieve these goals, Starbucks upgraded to Microsoft Commerce Server 2000, one of the key Microsoft .NET Enterprise Servers. As a result, scalability and performance have improved, and the company now has the tools it needs to profile and target customers, analyze site data, and deliver new features to the market in the shortest time possible. * New materials and processes Developments in the technology of coffee making machines and the computers that Starbucks use to run their cash registers will enable their staff to work more quickly and efficiently. This will result in customers being served quicker and create the potential to serve more customers in a day. This will  prevent customers from having to wait around for long periods thus improving customer relations along with increasing the customer base. * Software upgrades In the short-term, Starbucks must identify the most efficient software upgrades to use to keep up with the competition. This applies to the improving the accessibility of their website (www.starbucks.com) and also improving the speed and quality of the service provided on the shop floor.* Research and Development activity As a multi-national business empire, Starbucks has the budget and the resources to have a cutting-edge R+D department. The websites very accessible, the facilities are state of the art but more importantly new ideas are consistently being tried in terms of a constantly updating menu.* Rate of technological change The rate of technological change in the current world market is high, much higher than, say, thirty years ago. Much of this is down to the Internet and the speed with which information can be communicated around the globe. Starbucks will need to invest heavily just to stand still in their ever expanding and developing market, and even more so to try to stay ahead of competitors. Legal: * Trade and product restrictions Starbucks need to be aware of the trade laws in the various countries they occupy and do business with. They need to ensure they are not in violation of e.g., religious laws. Also, certain countries impose a tariff that has to be  paid when goods are imported/ exported so this must be taken into account. * Employment law Each country has varying employment laws. Some may have a Sabbath day, some may have a limit on the number of hours an employee may work  per week, all will have varying levels of minimum wage. Starbucks should consider  these factors when deciding on relocation .* Health and Safety regulations Starbucks may find these regulations are not as stringent or well enforced in certain countries. It would be wise though to enforce universally high standard of health and safety throughout all its shops to maintain a good global image and ensure all laws are abided by. Also, by not maintaining high standards they will be liable for a large amount of civil cases as it is a legal requirement for them to enable that their staff and customers are safe when they are in their stores. * Monopolies commission If Starbucks consider expanding their operations further  to control an even larger percentage of the market than they already have they will have to consider the possibility of breaking monopolies legislation as they may have a share of the market that is too large. This would mean that they would have unfair  advantage over other companies in the same market. This would mean that they could  benefit from economies of scale and would also be able to charge prices that were not competitive in the market and get away with it due to the lack of competition. The Competition Commission are in place to try and prevent these situations occurring[e.g. CC (back then the MMC) block BskyB attempted takeover of Manchester United in 1999]. * Land use Starbucks may have to abide by local planning regulations when building shops or altering purchased sites, as certain areas of land may be protected or  unsuitable. All matters would be addressed by the local government. Environmental: * Pollution problems Starbucks customers create a lot of waste as they often leave the shop with their cup of coffee and then dispose of it in the street. The packaging for  this cup must be carefully considered to make it as biologically degradable as  possible. Certain other materials can be very harmful to the natural environment. * Planning permissions Planning permission may not be granted if Starbucks wish to  build in an area that could be harmful to the environment. The land may be protected. * Work disposal Starbucks need to carefully consider the methods in which they dispose of their waste as there are strict laws in most countries to ensure a firm trading in their country disposes of the waste that is created in their business in a specific and efficient way. If they do not follow these laws they may find themselves being sanctioned, which not only affects them financially but also tarnishes the reputation of  the brand name, as most of the waste created will bear the logo of Starbucks. * Environmental pressure groups Starbucks should be aware of the physical and influential power of groups such as Greenpeace and Friends of the Earth. Any violation of animal or environmental rights by a company is usually followed by a swift and attention-drawing protest from one of the groups. Brand image and customer bases are often irreconcilably tarnished due to the actions of these groups

Great Bear Rainforest Essay example -- British Columbia Nature Wildern

Great Bear Rainforest The controversy over logging, and more specifically clearcutting, is not a new issue in America. Ever since the 1920's and 1930's, when this nation started to become conscious of conservation, citizens have weighed the consequences of logging. Critics have questioned whether the increase in jobs, tax dollars, and economic growth was worth the destruction of forest lands. Regardless of what they believe today, the logging industry had become so efficient that by the late 1980's nearly 100,000 acres of federal land had been clearcut since the industry began. Logging technology has advanced rapidly in terms of speed, to meet the increasing demands for lumber, paper, and other products derived from trees. This in turn has greatly impacted the environment by severely degrading watersheds, leading to increased soil erosion, the diminution in the quality of drinking water, and the decline of fish stocks, among many other consequences. In this essay I will examine the progression of logging equipment throughout the 19th and 20th centuries and discuss how these changes in technology have not only changed the relationship of those who work in the industry, but also haw this has changed the wider relationship of society and nature. Before starting my research I thought there had been a progressive increase in the amount of land that had been clearcut. My reasoning for this was that logging machinery at the end of the 19th century was primitive compared to that of more recent times. As a result, it would have been difficult to compete with the output of today's industry. However, in the late 19th century there was a boom in the logging industry and thousands of acres of land across the nation were forested. Hist... ...the improvement in machinery. However, if they were just based on technological improvements, there would not be a continual rise and fall in the logging industry. These periods of increased logging have drastic affects on the environment, today, just like one hundred years ago. More importantly, the growth in technology has led to the reduction of workers. In my opinion, it seems that now we are dealing with the big capitalist pull. Individual companies are buying these forests just to log. For the most part, they are the ones that are reaping the benefits, while destroying habitats for people and animals alike. Thereby changing the relationship of those who work in the industry and that of environmentally conscience society. 1 According to Foster, "harvesting is sustainable if the stimulated growth rate is equal to or greater than that of the existing forest."

Racial Discrimination in American History Essay

Racial discrimination contaminated the entire nation since its very inception. Racial tensions and problems remained a major dilemma of American history. Stanley M. Elkins’ illustrative work Slavery; A Problem in American Institutional and Intellectual Life illustrated the psychological effect of harsh pattern of slavery. He says that in the South brought into being a typical Negro personality that was commonly known as Sambo. Sambo denotes to a personality prototype that was characterized by childlike behavior. This infantilism (as Mr. Elkins calls it) was a result of absolute negation of individual rights and ultimate powerlessness. He further compares it with Nazi concentration camp, where harsh treatment and absolute powerlessness over every action had reduced the Jews to infantilism. Although American history is littered with example of racial discrimination at the social and governmental level but following example manifests different facets of American racial problem. Louis Hughes (1897) depicted pernicious kind of racial discrimination in his autobiography â€Å"Thirty Years A Slave; From Bondage to Freedom† when wrote that slave whipping was a not only a punitive measure but it was also done a business. He wrote; Whipping was done at these markets, or trader’s yards, all the time. People who lived in the city of Richmond would send their slaves here for punishment. When any one wanted a slave whipped he would send a note to that effect with the servant to the trader. Any petty offense on the part of a slave was sufficient to subject the offender to this brutal treatment. Owners who affected culture and refinement preferred to send a servant to the yard for punishment to inflicting it themselves. (pp 8-9) Dred Scott case (Scott v. Sandford, 60 U. S. (19 How. ) 393 (1856). ) has its peculiar importance in the racial history of America. Scott sued in federal court to be affirmed free. A divided Supreme Court (7/2) ruled out his sue petition as declared that he had not right to sue in federal court because he was not a U. S. citizen. Chief Justice Roger Taney wrote the majority opinion. Taney based his ruling on the actualities that free blacks were not citizens because blacks were often debarred from militia service. Taney and his allied counterparts further based their decision on the assumption that original American social community included only those â€Å"who, at that time [of American independence], were recognized as the people or citizens of a State, whose rights and liberties had been outraged by the English Government; and who declared their independence, and assumed the powers of Government to defend their rights by force of arms. † (Dred vs. Scott. ) Whatever were the legal and constitutional intricacies involved in the decision, this ruling made mockery of the American values of freedom, equality and fraternity. This decision further produced a huge chasm between the white American and Blacks that still exists and haunts the American society more than ever in various sophisticated forms and shapes. Residential segregation is common today as it was in the early days of American society as Blacks reside in underdeveloped and underprivileged ghettos. The sole reason for that is that economically they are not well off to buy a house in some good residential area or at least rent it. Until the first half of the 20th century, many trade unions routinely debarred blacks from membership; segregated schools were common in many cities across America. Within the armed forces, for example, blacks served in segregated units or, in the case of the Navy, were virtually excluded. But optimism grew and struggle for an affirmation action continued. Another important moment came when Supreme Court awarded separate but equal status to Afro-American in Plessy vs. Ferguson (1896). Justice Henry Brown wrote the majority decision: â€Å"That [the Separate Car Act] does not conflict with the Thirteenth Amendment, which abolished slavery†¦ is too clear for argument†¦ A statute which implies merely a legal distinction between the white and colored races — a distinction which is founded in the color of the two races, and which must always exist so long as white men are distinguished from the other race by color — has no tendency to destroy the legal equality of the two races†¦ The object of the [Fourteenth A]mendment was undoubtedly to enforce the absolute equality of the two races before the law, but in the nature of things it could not have been intended to abolish distinctions based upon color, or to enforce social, as distinguished from political equality, or a commingling of the two races upon terms unsatisfactory to either. † Justice John Harlan manifested great prudence in his dissent note. He wrote; â€Å"Our Constitution is color-blind, and neither knows nor tolerates classes among citizens. In respect of civil rights, all citizens are equal before the law†¦ In my opinion, the judgment this day rendered will, in time, prove to be quite as pernicious as the decision made by this tribunal in the Dred Scott case†¦ This did not end the Black plight as Racialism was not only institutional but psychological and it crept into the very intellectual and psychological level of American whites. Sociological patterns i. e. values and traditions, were established in way to nurture hatred for the colored people. Palton (1954) is of the view that American racialism has two major manifestations; employment and housing. He provides a detailed and first hand accounts of this housing discrimination. He depicted how white community outcasts those whites who tried to sell the property to colored people. He elaborated that these white Realtors are not motivated by any altruism but financial gains are the only factors that compels them to sell their property to Black community. He writes; In 1934 the Federal Housing Administration regarded itself as a business organization, and regarded Negro occupancy as harmful from a business point of view. In 1937 it actually published a model race-restrictive covenant. In the words of Mr. Loren Miller, of Los Angeles, one of the most powerful Negro fighters against the covenant, â€Å"the FHA sowed race-restrictive covenants through the country far and wide. † The FHA dropped the model covenant in 1949, and declared it would no longer insure loans in new developments where there were covenants. . . . (Paton, 1954) Parton further asserted in 50s that â€Å"By now I assume that it is an incontrovertible fact that segregation is dying† but subtle forms of discrimination continued. Although state and federal laws hankered after an equal status for colored people but institutional and social practices presented a different scenario i. e. dichotomy of values in idea and real world. Roosevelt (1943) has raised certain fundamental questions about same problem i. e. the ideals for which civil war was fought and the practical attainment of those ideals. In that war we succeeded in establishing our unity. We would be one nation and not two and we said that all the people in our nation should enjoy equal rights and privileges, but in our hearts we never really believed what we said. (Roosevelt, 1943) Same views were depicted by Birmingham Sunday, a song by Richard Farina when four children were murdered in Sixteenth Street Baptist Church in Birmingham. It says; On Birmingham Sunday the blood ran like wine, And the choirs kept singing of Freedom. (Carawan, 1990) The Montgomery Bus Boycott was a socio-political protest against the policy of racial segregation and discrimination campaign in the public transport service of Montgomery city, Alabama in 1955. It lasted for one whole year starting at December 5, 1955 and ending at Decenmer21, 1956. The sentiments of the Afro-American community were cooled down by a United States Supreme decision that declared segregation in public transport as unconstitutional. The Montgomery Bus Boycott cast deep imprints U. S. history and equipped the Black leadership with an impetus to carry on their civil rights struggle. It had implications that reached far beyond the desegregation of public buses. Luther King established himself as the leader of a national stature. The protest boosted the Civil Rights Movement and created a mass awareness about the struggle of Afro-American community and highlighted their pathos and miseries. It further provided confidence to the Black people that they can win their rights by constant struggle. In the words of King: â€Å"We have gained a new sense of dignity and destiny. We have discovered a new and powerful weapon—non-violent resistance. † Another manifestation of racial discrimination existed in the armed forces. Afro-American community remained a vital part of U. S. Armed forces and participated in every war the United States fought on domestic and/or foreign soil. But it is also a fact that Afro-American soldiers remained a part of segregated units and were tasked to do unskilled donkey work. In the perspective of World War II, President Truman issued an Executive Order 9981, which consented â€Å"equality of treatment and opportunity for all persons in the armed services without regard to race, color, religion or national origin. † This pronouncement was great but black servicemen continued to come across profound discrimination. Much like the wider American society, the U. S. armed forces observed plentiful racial incidents in the 1960s. The Camp Lejeune Incident is one of them. Camp Lejeune Marine Corps camp in Central North Carolina and housed about 42,000 military personnel. In late 1960s, 14% of troops stationed at the camp were Afro-American.. On the horrible night of July 20, 1969, racial tension aroused â€Å"when a black marine attempted to cut into a white dancing with a black woman marine†. (U. S. Government Printing Office, December 15, 1969). After one and half hour, a white army personnel entered the club and shouted that he had been attacked by a mob of Afro-American marines. This sparked the whole situation and within next half an hour 15 Black marines injured and one, Corporal Edward E. Blankston, was dead of massive head injuries. Another such incident is The U. S. S. Kitty Hawk Incident. All these incident provides a comprehensive and brief synopsis of racialism in American history but it remains a fact that although there are various individual achievements on the part on black Americans like Christina Rocca and Colin Powell hold important role of Secretary of State; Clarence Thomas held the highest judicial authority but discrimination in many forms is also a central part of the African American experience. Joe R Feagin in his book â€Å"Racist America; Roots, Current Realities And Future Preparations† describes clearly that â€Å"systematic racism is about everyday experience†¦Black American and other people of color often experience the world differently from White Americans†¦Ã¢â‚¬  This is true in every aspect of African-American life. References Alan Paton, â€Å"The Negro In the North,† Collier’s, 29 October 1954, 70–72, 74–75, 77, 79–80. Amending Interstate Commerce Act (Segregation of Passengers), Hearings before the Committee on Interstate and Foreign Commerce, House of Representatives, 83rd Congress, 2nd Session, May 12–14, 1954. Washington, DC: U. S. Government Printing Office, 1954, 39–55. Burns, Stewart. Daybreak of Freedom: The Montgomery Bus Boycott. The University of North Carolina Press. 1997 Carawan. Candie. Sing for Freedom: The Story of the Civil Rights Movement through its `songs. Bethlehem. 1990. pp. 122-123. Committee on Armed Services, House of Representatives, Inquiry into the Disturbances at Marine Corps Base, Camp Lejeune, North Carolina,. on July 20, 1969 (Washington, D. C. : U. S. Government Printing Office, December 15, 1969), p. 5056. Elkins, Stanley. Slavery; A Problem in American Institutional and Intellectual Life. University of Chicago Press. 1959. Feagin, Joe R. Racist America : roots, current realities, and future reparations. New York : Routledge, 2000. Hughes, Louis. Thirty Years A Slave; From Bondage to Freedom. Milwaukee. South Side Printing Company. 1897. Justice Henry Billings Brown, â€Å"Majority opinion in Plessy v. Ferguson,† Desegregation and the Supreme Court , ed. Benjamin Munn Ziegler (Boston: D. C. Heath and Company, 1958) 50-51.