Water Resources Assignment Example | Topics and Well Written Essays - 250 words

Water Resources - Assignment Example At Sattler and Brussels focuses, the volume of release demonstrates closeness in the ecological states of the territories encompassing the waterway. Along these lines, Guadalupe River covers territories with comparable climatic conditions that don't change unexpectedly making the release to be even. The climatic states of the two regions is moderately same, making the release volumes generally equivalent, with the every day greatest and day by day least changing insignificantly. The zones around the branches didn't enlist changes in the land utilize that could influence the measure of release. There is a noteworthy connection between's the stream and precipitation as saw in the difference in the volume of release. The long periods of January to April register consistent precipitation with the remainder of the years having insignificant precipitation. The connection between the insignificant, most extreme and mean release is consistent with negligible variety in the release demonstrating the closeness of the ecological

The World Of Hair :: essays research papers

In The World of Hair All through time, the universe of hair, and now the notable field of cosmetology have raisin and fell. I can recall when dark ladies were wearing Afros and Caucasian ladies easy routes and now things have advancing into throughout the entire these streaming hairdos and also the present wellbeing nowadays on our hair. Appears as though the days on juices and berries were hairs most joyful time. Presently going thur how we deal with our hair is precarious however here are some incredible methods of keeping steady over each strand. Realizing that mornings or the most noticeably awful time for us all here is the standard to keeping a very much prepared and solid yield on hair. In the event that you have short hair of any kind than this is the mammoth showy for it, a great shower wash before you start that hot shower. Also, wash twice to safeguard that there will be no oil develop on the grounds that old can back a hairdo off or even leave a style right speechless. Next you would need to apply and great protein based conditioner, for example, cholesterol and permit it to stay on the hair structure root to tip of the span of your shower and when you flush than your hair washes this strategy spares time and work. Since your hair is all-perfect and you need and brisk technique for drying it; and before we get the drying part lets stop and think session how we need to where our hair, presently observing as we have a short weaved length with around 8 crawls of hair to work with we have to apply a styling help and that would be as a moisturizer or cream. I lean toward the moisturizer myself, so apply the setting salve to the hair this will go about as a fixative that will secure the style. Next we are prepared to blow with a handheld blow dryer; this procedure will take twenty to twenty-five min. In the wake of blowing the hair dry we are prepared to style the hair. Since we have concluded that we need some ricochet and twist in our hair for the day here is the manner by which we will get the outcomes required for a day at the workplace and a night on the town. You will require a medium to enormous hair curler (a warmth inspired instrument) and a light styling splash.

Hindi Essay Topics For Class - 6 Tips For Writing Better Indo-India Essays

Hindi Essay Topics For Class - 6 Tips For Writing Better Indo-India EssaysHindi essay topics for class should be easy enough for students to grasp, but it is also important that they are concise and to the point. If students have difficulty completing the assignments due, then it would be quite unfortunate if you do not have any work to show for it. In this article I will outline some tips on how to write more effectively for your Hindi essays.The first tip to writing well about Hindi is to always be focused. In other words, try to make sure that your focus is the topic of the piece. If the assignment is about how to get past a difficult situation or setting, then for the sake of the essay you need to have some sort of direction. Also try to ensure that you don't focus on the negative aspects of the situation and instead concentrate on what's going to happen in the future.Another tip on writing a good Hindi essay is to always end each paragraph with a question mark or a short comment . When doing this ensure that you are asking a question that's going to take away from the focus of the discussion, as this helps to add some depth to the piece. This can be done by asking questions like what are the positives and negatives of the situation, what will the solution for the problem be and why is it so hard to solve the problem. By doing this you should allow yourself to be focused for the remainder of the paragraph.It is important to also establish a connection between the topic of the Hindi essay and the overall story line. For example, if you are discussing how to solve a problem that involves politics, then you need to make sure that you don't spend too much time talking about the politics of the country. Instead it's better to spend a little bit of time discussing some of the positives of the country such as its uniqueness and culture.This is also a good tip to make sure that you connect the topic to the right conclusion. It is important to ensure that your conclu sion is the outcome of the entire story line and not just a small part of it.Another tip to write a better Hindi essay is to ensure that you do not make grammatical mistakes. This is an extremely common problem with most students and does not help to their essay. Rather make sure that you check your work and double-check anything that you are unsure of.Finally, make sure that you learn English. This is an excellent way to make sure that you understand everything that you read and will give you a more comprehensive understanding of the language.These tips are a few of the tips on writing better Hindi essay topics for class. Following these tips will ensure that you write better assignments and get better grades on your Hindi essays.

Marketing Strategy Marketing Strategies - 1910 Words

5. Marketing Strategy The following marketing strategies will be used for Meet to create awareness and propagate the attractiveness of Meet to the world. 5. a) Advertisement/Promotion: It will be advertised via various online markets like Windows store, Apple store and Google Play Store. The number of downloads and rating in these pages prove to be significant in deciding trial decision. Additional advertisement may be done for major markets like China, India and US. 5. b) Launch on New Year: Tying the promotions up with the New Year can attract immense interest. Meet will have a baby cartoon character as its mascot (indicating the birth of a new fashionable and cool messenger), who speaks, pings and emotes a lot through stickers. The baby can later be made into a young teenager and stop ageing indicating the willingness of everyone to remain as a teenager when the entire world seems within reach and nothing seems impossible. 5. c) Tie up with Telcos: Tie up with telcos to promote the use of Meet will be done. The data packs can have freebies dedicated to Meet Messenger. The promotion of such packs with freebies dedicated to Meet Messenger will increase awareness and prompt customer trials making use of the attractiveness attached with the word â€Å"FREE†. Customers want to use up anything that they have for FREE with validity defined. 5. d) Promotion on applications by partners Gaming online has become a trend and promotions can be run before the start and after the end ofShow MoreRelatedMarketing Strategy1138 Words   |  5 PagesChapter 1 Marketing in Today’s Economy Exercise 1.1 CarsDirect http://www.carsdirect.com 1. Explore the CarsDirect website, including pricing a vehicle of your choice. How successful is CarsDirect in reducing the hassles associated with buying an automobile? 2. Does the design of the CarsDirect website convey confidence and trust in the car buying process? How has CarsDirect answered consumers’ concerns over the lack of a human element in their marketspace? Exercise 1.2 DaytonaRead MoreMarketing Plan For A Marketing Strategy909 Words   |  4 PagesA marketing plan is crucial to the survival of an organization. Marketing plans need to be well thought out and target a certain market. The market that an organization chooses will demonstrate what direction they want the organization to head in. However, choosing just one market will be problematic to the organization because they will be missing out on other opportunities to grow. The organization needs to operate like the old sane, kill two birds with one stone. Therefore, if an organizationRead MoreMarketing Strategies For Uber s Marketing Strategy1786 Words   |  8 PagesCurrent Marketing Strategy By December 2015, Uber has raised total equity funding of $6.61 billion in 12 rounds from 52 investors (Exhibit 2: Uber’s Investment Rounds) (CrunchBase, 2015). Compared to its seed capital of $200,000, the company has expanded enormously in these few years. Besides its evolving service lines, Uber is actively investing and developing marketing campaigns. This is highly related to Uber’s success in attracting customers, which is the most important revenue stream of theRead MoreMarketing Plan For A Marketing Strategy Essay906 Words   |  4 Pagesestimates and financials required for the proper and effective conduct of this marketing plan throughout calendar year 2016 by On-Target of SoCal can best be broken down and expressed within the following three major categories; implied, specified, and shared marketing activities. Each of which will be further addressed in the following paragraphs. Implied Marketing Tasks The Implied Marketing Tasks include all those marketing activities conducted directly and routinely by the entire staff of On-TargetRead MoreMarketing : Direct Marketing Strategies Essay1037 Words   |  5 PagesDIRECT MARKETING Direct Marketing is a form of advert in which a producer of one business introduces physical materials on market to consumers or other business entities and informs them about the services or products in stalk for them. The producer addresses customers through different channels such as mail, e-mail, phone, in person, etc. When one engages in direct market, he/she is not expected to make general adverts like the adverts on billboards to promote a brand or make people aware of theRead MoreMarketing Plan For A Marketing Strategy1897 Words   |  8 PagesMarketing plans are essential to businesses and companies in terms of coming up with a meticulous plan to market and advertise products, such as food brands you would see on supermarket shelves. For example, marketing and advertising highly revolves around a marketing plan as it plays an important role in organising and facilitating a marketing campaign (Kotler et al., 2009). Marketing plans consist of multiple different components/sec tions which, when put together form the overall plan as a wholeRead MoreAmazons Marketing Strategy1993 Words   |  8 PagesAbstract The purpose of this paper is to evaluate the marketing process of online retailer Amazon.com, Inc. Amazon.com provides a number of retail services as well as web and storage services. The corporate strategy framework, as discussed in Cravens amp; Piercy’s Strategic Marketing text, will be used to examine the background of the company and define its current position. The corporate framework includes the following: (1) corporate vision (2) corporate objectives toward vision (3) resourcesRead MoreThe Marketing Strategy Of Walmart1496 Words   |  6 Pagesrecognition by consumers escalate to never before seen heights. Because of this brand recognition, it has become important for businesses to design their websites to reflect their overall marketing strategies. This is especially important in the retail world. All retail businesses have a similar overall marketing strategy of generating sales and retaining the customer for future sales. Most of the retail giants still greatly rely on the success of their brick and mortar stores to turn a profit. HoweverRead MoreDells Marketing Strategy1802 Words   |  8 Pagesalways been careful in sustaining its marketing strategy of providing standard-based computing solutions (Official Website 2004). Today Dell is the third largest computer manufacturer in the world. On January 2004 Dell reports net revenue approximately $41,444 millions and 46000 employees (Annual report 2004). Marketing Environment Dells strategy is global. It realizes that being closer to the customers is essential in carrying out its marketing strategies as well as in enabling it to build customerRead MoreThe Marketing Strategy Of Walmart Essay1748 Words   |  7 Pagesdepartment where they work in (Sang-Hung, 2006). This is a great marketing strategy, because it doesn’t allow the consumer to feel that they are walking throughout the store without constant assistant. There are also employees who job is to provide the consumer with samples of products throughout the store on a daily basis, this allows the consumer to try the product before they buy it (Sang-Hung, 2006). This marketing strategy can be used as a survey technique that measure whether the product

About Social Media Censorship - Free Essay Example

Sample details Pages: 5 Words: 1504 Downloads: 6 Date added: 2019/06/12 Category Society Essay Level High school Topics: Censorship Essay Did you like this example? In the last two centuries communication has drastically changed. The internet has opened many doors. Everyone is able to communicate with whoever they want to and whenever they want to whether near or far. Don’t waste time! Our writers will create an original "About Social Media Censorship" essay for you Create order Nobody has to pay for long distance calls anymore, everything can be done over the internet, which brings me to my topic social media censorship. Due to social media people all over the world have access to other peoplers social media. Some even go to the length of creating fake accounts and voice whatever they feel like even if itrs wrong. They would never say that face to face. Social media gives them the upper hand to hide behind a screen. Once their posting is out there it can never be taken back. Further research must be done to prevent harmful and unethical postings. One might call it dictatorship, but others call it protection not only for adults but especially for children. While the First Amendment gives us freedom of speech, the government should control social media by legalizing social media censorship to prevent other from hurting innocent people and keeping our children safe, since everybody has access to the internet, perpetrators have a secret way of being harmful tow ards their victims without taking responsibility for their actions while hiding behind their screen, children are affected by it as well and do not realize how it can negatively affect their future, and social media tracks our every move without our knowledge or permission. Social media is an umbrella term that is being referred to all online communities. It encourages communication between users and it also gives them the change to develop and interact with an enormous range of online content. Social media has affected our life in every step of the way. Its not only affecting us outside of the home but within our own four walls as well. It prevents face-to-face communication, alters childrenrs brain while also being exposed to predators. Children go online and think everyone is telling them the truth while yet lying through their teeth. Social media gives a platform of fake news and fake lives. You can basically post whatever you want yet no one would know whether itrs true or not. Facebook and Instagram are known to be online platforms where people post the perfect moment yet while they are broken on the inside. It gives them sense of still having the perfect life they can present to others. Since mobile devices control most of the globe, everyone has easier access to social media, where they can connect anywhere and anytime. A study by New York Times Consumer Insight Group reveals the reasons and a statistic why people share their information on social media. Instead of social media being a handy to stay in contact with family and friends, itrs impacting our society. It controls and shapes culture, education, businesses, politics, and everything else. For example, Wikipedia is known as a site where everyone can post things without being verified for accuracy. That site was banned as a research site from many businesses including schools. It is also said to say when you google kids shows such as Blues Clues instead of getting just the kids shows, the search engines pull up pornography. This should never happen; our children should never be thrown into the hands of the big bad wolf also known as the freedom of social media, especially since most schools use chrome books for education instead of actual school books. Even though the chrome books are an amazing invention, the internet access should be minimized to only educational information that goes hand in hand with the rules of the school. About 68% of all internet users are using the Facebook platform (Gramlich, 2018). Since they are feeding off interactions between users, they become more powerful as they continue to grow. For example, if you google a pizza place eventually you will be getting advertisements on the social media site about that pizza place or similar ones. Social media is tracking your every move. Even though people bring an awareness to the issues of social media, it seems like most of the users arent taking it seriously. More and more people are sharing their personal information that they would have never shared before, without realizing that once itrs posted it stays in the cloud even if they delete it of their electronics. Most users arent aware that recruiter make their hiring decision based on the information they find on social media, especially Facebook since its one of the most popular platforms. Social media works as walking talking resume, it also works as a free advertisement for businesses. I strongly believe that the government needs to get involved and legalize censorship in social media. Social media should not decide what can be posted on their platform and what cant. Just like in the case of Alex Jones who created fake new sites on social media and once they were under fire, they banned him from their platform. Alex Jones has been doing it for many years. The social medias went as far as removing his sites from the search engine. You literally have to know the full URL to be able to get to his sites. It was ok for social media to have him on their sites because he had a lot of followers and thatrs what attracted more users but once they were negatively affected by it, they banned him. We should have freedom of speech but to the point that it is facts and not lies. The information that gets posted online should be run through a department that makes sure not falsified information is being posted for the world to see. This should also be included in the protection of our children. There should be an online standard set that if it does cause red flags it cant be posted. So many children use the social media to hide behind the screen and cyberbullying other children (Byrne, 2018). The suicide in children has drastically increased due to cyberbullying. And a lot of parents are not aware of whatrs going in until its too late. My child was a victim of cyberbullying but because of my IT background I was able to trace every step of that bully and report to the police. If I would not have done all my diligent homework, I would not have been successful to stop it and that bully would have continued to spread roomers online about my child. Since there was another child who fell into the traps of the bully, we wanted to make sure that the child who caused all that hurt had to take responsibility for her actions. I believe this would have never happened if we had better control over social media since a big number of parents dont do their job and parent their children accordingly. Social media needs to be given restrictions in regards of following users online. We should not worry whether our privacy is being violated or not. Even though everyone can go online it should not give everyone the right to follow us and publish advertisements on our site without our approval. If I, as a user of these platforms want to post something that I enjoy and its according to the censorship I should be able to do that on my terms. If they dont get stopped now who knows how much further, they will go. As we can see it in the discovery channel with Microsoft. Bill Gates invented Microsoft and created a monopoly where other developers had no chance to stand against him. It went as far as him facing a Monopoly lawsuit. Social media is an amazing tool if used right. It not only gives us more job opportunities, but it also gives us the chance to communicate with loved ones who are spread out through the entire world. While it is an amazing tool to use, we need to realize how dangerous it can be. The users are just like little children who need someone to watch over them to make sure they are doing the right thing, and no one can hurt them. Not everyone understands how it works, not because they dont want to but because it can come very complex and boring to a point. Most companies make their hiring decisions based on what they find online which leads to a lot of great people not being hired just because they made a mistake posting things online, they would never say or show at their employment. Social medias act now as resumes which can either make you or break you and thatrs why I believe social media censorship should be legalized. Another very popular social media platform which is considered as a professional network is LinkeIn. This site is important for any users who want to stand out in their profession. This site also allows people to create and market their own brand, and employers search for potential employees.

9/11 Conspiracy Theory - Essay 1 - 1258 Words

9-11 Conspiracy Theory. Introduction. September 11th, 2001; two planes crash into each tower of the World Trade Center, one in to the Pentagon, and one â€Å"crashes† in Pennsylvania. The government tells us that the attacks were committed by Al Qaeda, a Muslim extremist terrorist group. That it was a â€Å"cowardly surprise attack.† They do not offer any proof, except, a likely fake, video tape, of Bin Laden; translated by government translators. A pattern? We took the government’s word for it. How ironic. The US government most likely knew that the attacks were coming, or even actually committed them themselves. In this paper is prima facie evidence of this. Evidence that cannot be ignored. Also included is an explanation of why the government†¦show more content†¦Leading the writers of this paper to believe that there were demolition explosives installed in the towers. This was likely done by the contractors that were in the World Trade Center on 9-11. Figure 2. Figure 3. (On next page) When the tower collapses there are 2 independent clouds of smoke and debris that appear in rapid succession to each other. The photos on the right have markings on them. The red circle indicates the first cloud the yellow one the second cloud. This is prima facie evidence of the presence of demolition explosives. The two clouds indicating 2 places where the explosives were installed. Consistent with an implosion. Why? Many people wonder â€Å"Why would the US government do such a thing?† There are several reasons, most likely a combination of them. Firstly, it permitted the restriction of human rights. Now Americans can be arrested and held indefinitely without being charged or given access to a lawyer. The government now has greater surveillance rights over citizens. Now the FBI can â€Å"monitor political and religious meetings inside the United States now, even when there is no suspicion of a crime.† The government can now investigate what â€Å"books Americans borrow from the library.† Also, the treatment of POWs captured in Afghanistan and held at camp X-ray is in violation of the Geneva Convention. Also, the attack caused congress to declare war on â€Å"terrorism.† What this accomplished was that if the government decides to attackShow MoreRelatedThe Events That Took Place On September 111144 Words   |  5 PagesKrishonda Depp English 102 Essay 3: Persuasive November 20, 2014 9/11 Conspiracy . The events that took place on September 11, 2001 will go down in history as the most tragic disasters to hit the United States of America. The destruction of the Twin Towers is a very controversial issue and is still being talked about today. It was devastating for us to see the towers fall and thousands of Americans lose their lives. It happened so fast that a lot of the details were overlooked, but now thirteenRead More Racial Controversy Surrounding the Assassination of Martin Luther King, Jr.3071 Words   |  13 Pagesof this â€Å"dumping† of responsibilities occurred with the assassination of King. It may be a possibility that the many different conspiracy theories that evolved after King’s assassination were created in a way to avoid Caucasians admitting that a single white person shot and killed the head of the Civil Rights Movement. Along with the many different conspiracy theories, there has been an uncovering of faults in the FBI’s investigati on, some of which include not taking African-Americans’ eyewitnessRead MoreAustralia and the Great Depression1704 Words   |  7 PagesDepression of the late 1920s. Australia was one of the worst effected countries in the World. This essay will look at why Australia lead the world into Depression in the late 1920s and why it suffered from its effects for so long. A depression is defined as A period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment. 1 During a depression money becomes limited which in turn leads to businesses going bankrupt andRead MoreHow Did 9 / 11 Affect The United States Of America?2151 Words   |  9 PagesHow did 9/11 affect the United States of America? On September 11, 2001 one of the world’s most tragic terrorist attacks happened to the United States; Terrorist’s hijacked four planes and crashed two of them into the World trade center located in New York city the third plane crashed into the pentagon and the last one was crashed somewhere in Pennsylvania on a field. Many lives were taken away that day; because of this tragic attack different sparks of questions and conversations raised toRead MoreNew World Order in Conspiracy Theory13987 Words   |  56 Pages------------------------------------------------- New World Order (conspiracy theory) This article is about the use of the term  New World Order  in conspiracy theory. For other uses, see  New World Order (disambiguation). The reverse side of the  Great Seal of the United States  (1776). The Latin phrase novus ordo seclorum, appearing on the reverse side of the Great Seal since 1782 and on the back of the  U.S one-dollar bill  since 1935, means New Order of the Ages and only alludes to the beginningRead MoreHiv, Its Origin And Evolutionary Effects Essay2370 Words   |  10 PagesPhilosophy of Biology Essay. TITLE: HIV, its origin and evolutionary effects. Name: Alice Herrera / 00053342 Contents Page Abstract.............................................................................................................1 Introduction........................................................................................................1-2 Origin of HIV.......................................................................................................3-4 HowRead MoreElements of Postmodernism in Ishmael Reeds Mumbo Jumbo, Don Delillos White Noise, Toni Morrisons Beloved and Thomas Pynchons the Crying of Lot 496348 Words   |  26 Pagesescape. Pynchon’s use of surrealism and creation of vast, varied, and incredible conspiracy theories in The Crying of Lot 49 is one more prominent characteristic of postmodern fiction. Postmodernism represents an â€Å"antifoundational philosophy† since it is â€Å"a form of skepticism about authority, received wisdom and cultural and political norms†[1] therefore such instances of conspiracy theories are a common feature of nearly every postmodern novel. All of the above mentionedRead MoreEnron : Ethics And Law1828 Words   |  8 PagesEnron – Ethics and Law Essay Mike Towle MBA 6070X Professor Louis Benedict October 17, 2014 TOWLE 2 The Enron Jeffrey Skilling and Ken Lay knew was one they kept to themselves and a few chosen colleagues. The rest of the world saw a global oil company on the cutting edge of its business and paving a path that other American firms could follow. In its trail, investors were getting rich, employees found reward and satisfaction, and the community it called home thought itRead MoreSeparate Muslims From State Outline1894 Words   |  8 Pagesadvocates considering Islam gives approval of segregation, provides obligations of the religions followers to commit senseless acts of violence, and because of the fact that Islam allows systematic lying as a religious policy. Throughout this research essay we will discuss facts in regards to traditional and modern Islamic ideology while deciding whether someone of such beliefs has a place in a position of power over others. There is sufficient evidence in the forms of statements from Islamic leadersRead More9/11 Persuasive Speech Outline4068 Words   |  17 Pages9/11 What they dont want you to knowÂ… I. Introduction a. Where could the US Government have ever gotten the idea for the terrorist attacks of 9/11 i. 12/7/42, Japan attacks Pearl Harbor, historians suggest the US Government had fair warning of the attacks and instructed US Military at Pearl Harbor to let it happen on purpose, thus giving the U.S. a reason to enter the war. ii. 10/17/62, after the failed Bay of Pigs invasion, the US Government was looking for another way to stage an attack

Financial Management Exacta Organization

Questions: 1. Exacta, s.a., is a major French producer, based in Lyon, of precision machine tools. About two-thirds of its output is exported. The majority of these sales are within the European Union. However, the company also has a thriving business in the United States, despite strong competition from several U.S. firms. Exacta usually receives payment for exported goods within two months of the invoice date, so that at any point in time only about one-sixth of annual exports to the United States are exposed to US Dollar currency risk. The company believes that its North American business is now large enough to justify a local manufacturing operation, and it has recently decided to establish a plant in South Carolina. Most of the output from this plant will be sold in the United States, but the company believes that there should also be opportunities for future sales in Canada and Mexico.The South Carolina plant will involve a total investment of $380 million and is expected to be in operati on by the year 2015. Annual revenues from the plant are expected to be about $420 million and the company forecasts net profits of $52 million a year. Once the plant is up and running, it should be able to operate for several years without substantial additional investment. Although there is widespread enthusiasm for the project, several members of the management team have expressed anxiety about possible currency risk. M. Pangloss, the finance director, reassured them that the company was not a stranger to currency risk; after all, the company is already exporting about $320 million of machine tools each year to the United States and has managed to exchange its dollar revenue for euros without any major losses. But not everybody was convinced by this argument. For example, the CEO, M. B. Bardot, pointed out that the $380 million to be invested would substantially increase the amount of money at risk if the dollar fell relative to the euro. M. Bardot was notoriously risk-averse on f inancial matters and would push for complete hedging if practical. M. Pangloss attempted to reassure the CEO. At the same time, he secretly shared some of the anxieties about exchange rate risk. Nearly all the revenues from the South Carolina plant would be in U.S. dollars and the bulk of the $380 million investment would likewise be incurred in the United States. About two-thirds of the operating costs would be in dollars, but the remaining one-third would represent payment for components brought in from Lyon plus the charge by the head office for management services and use of patents. The company has yet to decide whether to invoice its U.S. operation in dollars or euros for these purchases from the parent company. M. Pangloss is optimistic that the company can hedge itself against currency risk. His favoured solution is for Exacta to finance the plant by a $380 million issue of dollar bonds. That way the dollar investment would be offset by a matching dollar liability. An altern ative is for the company to sell forward at the beginning of each year the expected revenues from the U.S. plant. But he realizes from experience that these simple solutions might carry hidden dangers. He decides to slow down and think more systematically about the additional exchange risk from the U.S. operation. Questions a. What would Exactas true exposure be from its new U.S. operations, and how would it change from the companys current exposure? b. Given that exposure, what would be the most effective and inexpensive approach to hedging? 2. Discuss how diversification reduces risk. Comment on the beta of a portfolio with a large number of randomly selected stocks. (Hint: your discussion should include the increased importance of diversification post 2008 financial crisis.) Answer: 1. Background Information According to the given information it can be denoted that being the leading manufacturer of exactitude machine tools located in Lyons, Exacta, S. a., is looking forward to build a local plant for manufacturing in United States. The larger part of sales of the company is with the European Union. In United States, Exacta exports almost two-third of its output. Agreed by Exacta, s.a, management group, the sales level at United States is not only sufficient enough but also is in huge in order to have a unit in local manufacturing. The company also anticipates that in future there are possibilities of Expansion of business activities in the Market of Mexico and Canada. The Financial director of Exacta Organization, Mr. Pangloss, seems to be curious about this new venture after surveying the circumstances. With the provided information it was clear In South Carolina, the preliminary investment in order to establish the manufacturing plant; $380 million will be required. The facts state that there is a big opportunity to be successful, but then there are some shortcomings and anxieties related to the risks for expansion of business in International forum. The CEO of the Company Mr. M. B. Bardot as considered has clarified worried regarding the probable in reference to the exchange rate or the Currency. As per the information, though it is clear that Mr. M. Pangloss has made his efforts in order to boost the confidence of the CEO by stating the possible risk related to currency is not a new challenge for the organization. It can be true as according to the fact, presently the Organization is exporting tools of machine in US every year, whose worth is around $320 million. To do so, the company never witnessed any type of losses that are significant that were incurred due to risk of exchange rates and the dollar revenues for Euro. The information also did explore that recently the Company exercises a credit period of two month in order to pay for its goods which are exported. Hence, it indicates that about one-sixth part of money [previously stated as 320 million] has been before and now depicts to the currency oriented risk, at any point of time. Again it has also been stated that Mr. Pangloss has faith in the companys sufficiency in to prevaricate itself against risk related to currency with issuing bond as a way. Hence, it can be stated that certain initiatives might check and correct the amount of investment with the help of an equivalent dollar liability. This transaction would be in dollars. In reference to the given context of the information, it point towards the existence of another alternative for the company. It demonstrates that the Company can sell forward the expected revenue contract of $420 million preceding the progress with this project. Before proceeding with this project such kind of inform ation would help the Organization. Now, It is a fact that as the Director in Finance, Mr. Pangloss is acquainted with the fact that the responsibility to carefully handle the risk in regard to the exchange rate depends on him. The exchange rate might increase in future if such investments are made. In accordance with the information given, it can be denoted that an opportunity to earn probable amount of profit around $52 million per year can be made, if other affecting factors doesnt change. There wont be the requirement of any type of excess investment during operation that would exceed the time frame. This kind of Expansion in the U.S. market will increase the international survival of Exacta, which is advantageous for the company. Hence, it can be inferred that Mr. Pangloss as the manager in finance department needs to investigate and speculate any sort of dependent matters from U.S. investment. This can be done by the help of using techniques to check its existing as well as factual exposure. These techniques will help to take a decision on which certain specific method of hedging will be effective and would not be cost effective to the organization. Statement of the problem: From its new operation in U.S market what would be the true exposure of Exacta How the exposures from its new operation will, will differ from that of the current exposure of the company? In respect to that exposure, what could be the possible low cost and effective approach for hedging? The required options for management review. The two available alternatives for management review like: In requirement of the establishment of this new plan in South Carolina of United States of America, an investment of 380 dollar can be made by issuing bonds of US dollars. This would balance the amount of investment in dollars can be done with the aid of a equivalent liability of Dollars. To sell forward the contract of probable revenue of 420 million dollars before proceeding with the project, as this could an effective option for the organization (Announcements, 2014). Required financial information: The following are the information that would support in conclusions, is as follows: $380 million is the total amount to be invested for the new plant in United States. The operation expects annual revenue will be around $420 million. The net profit annually as per the expectation will be $52 million. $320 million is already being exported each year without any loss incurred in regard to exchange risk and currency. According to the CEO Mr. M.B. Bardot, the amount of investment of $380 million might be able to prove to make a significant amount of loss for dollar depreciation against Euro. The revenue will be earned in dollars from South Carolina new plant. About 2/3rd of the operating cost will be in Dollars. 1/3rd contribution would be from head office charges for services in management and patent use, and apparatus fetched from Lyons. In charge for patents, the decision of using Euro or Dollar is yet to be decided. Table 1: US $ per Euro *Shows U.S. $ per Euro Spot Rate Fwd Rate 1 Month 3 Months 1 Year Euro 1.25 1.2501 1.25 1.2507 Source: https://www.xe.com/currencyconverter/convert/?From=EURTo=USD The above table represents the exchange rate of US dollar with Euro. From the above table, it can be said that in one month, the euro will be worth same as it is now. This indicates that the Euro is holding its value till one month (Berk DeMarzo, 2007). The table also shows that in three months, the Euro will have gone down the value and in one year, the euro will have gone up in value. Therefore, it indicates that, while in three month time, there are more Euros required to buy $1, in one year time, it will be the opposite, that is, there will be less Euros required to buy $1. Table 2: Exacta Currency Risk Description U.S. $ - now Euro - now Euro - 1 month Euro - 3months Euro - 1 year Investment $ 380,000,000.00 304,000,000.00 303,975,681.95 304,000,000.00 303,829,855.28 Annual revenues $ 420,000,000.00 336,000,000.00 335,973,122.15 336,000,000.00 335,811,945.31 Net Profits $ 52,000,000.00 41,600,000.00 41,596,672.27 41,600,000.00 41,576,717.04 2/3 Op Costs $ 245,333,333.33 196,266,666.67 196,250,966.59 196,266,666.67 196,156,818.85 1/3 Op Costs $ 122,666,666.67 98,133,333.33 98,125,483.29 98,133,333.33 98,078,409.42 * U.S. dollar price = euro price in France / # Euros per dollar * Euro price = $ price in U.S. / # $ per euro (Bos, Mahieu Dijk, 2001; Campbell, Medeiros Viceira, 2007) The above table provides details of the two investment strategies along with their currency risk exposure in terms of spot rate, 1 month forward rate, 3 months forward rate, and 1 year forward rate. Now, from the above table it is noted that if the organization aims to sell forward expected revenue, then, it will evidenced gain of 336,000,000.00 - 335,811,945.31 = 188,054.69 Now, since, the payment is received within two months of purchase, only 1 / 6 th of the money will 2. The risk management practices are the most significant aspect of Portfolio optimization succeeding to global financial crisis. Many expansions have taken place in the whole process of portfolio risk management. Nevertheless the construction for diversification using portfolio theories have become the pillars of investment decisions (christoffersen,2003). The global financial crisis of 2008 saw many doubts in the financial markets on the benefits and the limitations of diversification. At the same time the importance of diversification in reducing the risk of the portfolios came out (chen Yu, 2011 ; Moran, 2010). The section here will go through a proper study on the process of diversification and its advantages and disadvantages. The diversification of the portfolio principally rotates around the mean variance analysis to develop its risk return aspect (Figlewski, 2003; Hicks, 2000; Horcher, 2005). As per the mean variance analysis the diversification of the portfolio is done in two different ways(Jorion,2005; King Slorach, 1996; Lucas, 2010). At first a specific risk or variance level, the level of expected rate of return is determined, then for a specific return level, the risk or variance of the portfolio can be maximized to a good extent. Markowitz said that, by using any of the two approaches, the portfolio can be estimated (Arnold, 2013). The portfolios then collected in the mean variance space are termed as efficient frontier (Berk, 2013). Thus by eliminating the non-efficient portfolios, and mean variance analysis, diversification of portfolios can be estimated. Markowitz formulated that on a given level of risk a rationale investor will accept the portfolio which has the largest expected return on investment. Specifically, modern theory of portfolio endeavours to account for the risks and expected return. In short, it represents the most expected return at a given amount of risk at one point of time. The mathematical model developed by Markowitz f or the optimization of portfolios can be formulated as shown below: Min w w Subject to, w e = 1 w = m Where, denotes the covariance matrix of stock returns; W = (w1, w2, , wn) = vector of portfolio weights; = vector of expected return; m = target portfolio return; e = (1, 1, 1, , 1) from the view of an individual investor, optimizing the risk return trade off can be estimated using the above given optimization problem shows that the method of diversification does not only applies on risk alleviation but also it also guides the investors in making through investment decisions( Chen Yu, 2011; Moran,2010). The traditional portfolio theory has three strata of diversification of the portfolio. At first the allocation of capital is done then the needs to employ the allocation of assts is done and then it is followed by the selection of security ( Roache Merritt, 2006). The process of allocating capital rotates around the process of allocating capital between highly risky and marginal risky assets. The allocation of the capital depends on the overall estimated risk of the portfolio( Chen Yu, 2011 ; Moran, 2010). It tells about the amount of capital that should be invested on risky assets( Clarke, silve and Thorley,2013; Duchin Levy, 2009). So, this is an important f actor that determines the level of return of the portfolio considering this particular level of risk(Ross, Westerfield Jordan, 2000; Ross, Westerfield Jaffe, 2005). Once the allocation of capital has been done the allocation of the assets takes place. This explores the capacity of each asset and determines the level of risk that it holds and the market to which it belongs(Campbell, Mederios Viceira, 2007). The allocation of the assets generally specifies the level of risk it holds and the portfolio that it belongs to( Rudin Morgan, 2006). The proportion of assets allocation is adjusted after fix intervals in order to maintain a particular level of return. The figure that is mentioned below represents a proposed asset allocation at a particular investor`s portfolio. Figure: Proposed asset allocation: [source: Smart, Megginson Gitman, 2004]. The proportion of assets that must be included in the portfolio entirely depends on the expected level of return and the risks that are associated with all these assets ( Campbell, Medeiros Viceira, 2007). Here the figure shows that the domestic stocks include 35% of risks, bonds intermediate have 28%of risks, and international securities have 12% risks. If the portfolio is fairly diversified, then the risk of the portfolio is actually much lesser than the sum of each single asset(Duchin Levy, 2009). The third step of diversification of portfolio rotates around the selection of security. In this stage a security is being selected from each of the asset criteria. This is an indication that there is an opportunity to utilize company or industry diversification( Clarke, Silva Thorley, 2013; Duchin Levy, 2009). An important outcome that can be seen here is that if an investor invests at various securities from various industries instead of selecting a huge number of securities from on e industry, then it would reduce the risk associated with it. It will minimize the level of risk (Berk, DeMarzo and Harford, 2012). The three steps known as the levels of diversification(Smart, Megginson Gitman, 2004). Figure: Level of diversification: [ Source: Smart, Megginnson Gitman, 2004] The market crash that took place in the 2008, the portfolio had become highly volatile. The shortcomings of diversifications can easily be understood by this figure. The figure given below shows the mean correlation of the S P 500 indices increased during dot-com bubble as well as the attack of 9/11. Hence there was a huge global melt down in that year. The world economy saw a major drop in the investments and there was no profit on portfolios and the risk on investment was very less. Figure: The average correlation of the sectors in the S P 500 indices is calculated over two year rolling window.[ Source: Clarke, Silva Thorley, 2013]. The expectancy of portfolio diversification is significant for a long run which can mislead the investors. Thus the investors should invest in multiple securities in order to minimize the risk. Financial analysis Table 1: US $ per Euro Shows US $ per Euro Spot Rate Fwd Rate 1 Month 3 Months 1 Year Euro 1.14 1.47 3.72 14.5 Source: https://www.investing.com/currencies/eur-usd-forward-rates From the above table, it shows the valuable exchange rate of US dollar with Euro. From the table, it is observed that the value of will be increased in one month. It indicates the positive trend of Euro. This table shows that the value of Euro will go up to 3.72 within three month. The value of forward rate will further increase within one year. This data indicates that there will be fewer Euros required to purchase one dollar and in one year there will be less Euro required to purchase one dollar. Table 2: The Currency Risk of Exacta Description U.S. $ - now Euro - now Euro - 1 month Euro - 3months Euro - 1 year Investment $ 380,000,000.00 333,333,333.33 258,503,401.36 102,150,537.63 26,206,896.55 Annual revenues $ 420,000,000.00 368,421,052.63 285,714,285.71 112,903,225.81 28,965,517.24 Net Profits $ 52,000,000.00 45,614,035.09 35,374,149.66 13,978,494.62 3,586,206.90 2/3 Op Costs $ 245,333,333.33 215,204,678.36 166,893,424.04 65,949,820.79 16,919,540.23 1/3 Op Costs $ 122,666,666.67 107,602,339.18 83,446,712.02 32,974,910.39 8,459,770.11 Euro price in France/ Euro per dollar = U. S dollar price $ Price in US / $ per euro = Euro Price (Bos, Mahieu Dijk, 2001; Campbell, Medeiros Viceira, 2007) From the above table, represents the two investment strategy as per their above mention currency risk exposure according to the value of spot rate, one month forward rate, 3 month forward rate as well 1 year forward rate. There is an opportunity to get the profit if the company develops the strategy to sell the forward expected revenue. It will provide a gain of ( 112,903,225.81 28,965,517.24) = 83937708.57. As per the data, the payment is received within two month of purchase, 1/6 of the total money will be at risk. In this calculation, the value of the risk will be 83937708.57 * (1,6) = 13989618 In the above data, the change in dollar will be = (14.5 1.14)/ 1.14 = 11.72 Conclusion and recommendations: The prime company Exacta is one of the affluent of the invoice its US operation in Euros which relates to the selling activities as per the parent organization (Campbell, Medeiros Viceira, 2007). The main reason of that the value of Euro is increasing within the time frame of one year during the operation. The above calculation indicates, at the time of payment made, this will be beneficial for the organization than the payment is occurred in dollars (Chen Yu, 2011; Moran, 2010). As per the prior reason, it concluded that this happened due to the fact that the operation of the company in the US will provide fewer amount of the Euros within one year of the operation as per the comparison of the strategy in the US. a) From the above calculation it is observed that the new operation in the U.S, This Company Exacta get the transaction exposure. This will happened due to the delay of two months as per the payment in term of foreign currency transaction. In the above context, it is observed that M Pangloss have to estimate current exposure as per the risk related to currency which considered one sixth as per the total annual sales of $ 320 million, which will provide the total amount of $ 53.33 million. On the other way The Exacta true exposure of its new operation will be $ 174.67 million. This data is the combination of the operating expenses and the net profit. This is one of the fact that the as the organization has developed a plan to take loan as per the US dollar that need to be funded in the investment amount $ 380 million. This decision need to be taken as per the reason that the US revenue has to employ to mitigate the interest on the debt. In this case, the net income is one the main component return to France over the cost related management fees and patents. The organization has to make decision to get the money as per Euros over France of $ 380 million as per the same purpose. In this case, the company requires counterbalancing of the speculation in the $ 420 million of the annual revenues with the one sixth portion of the current risk. If the management of the company selected this option, then the company will get $ 70 million at the risk from the revenue and the investment risk will be $ 253.33 million, this combined the value of $ 323.33 million. It also observed that the value of dollar depreciated against the value of euro within the time frame of one year by 11.72. In this case the transaction exposure is not negligible. On the other hand it is also said that 11.72 will decreased according to the euro proceeds. In this case the organization should sell forward dollar (Coyle, 2000). This is happened due to the exports of this company taken place in term of Euros. b) From the table 1, it is observed that the value of Euro will be appreciated within one year of time. M. Panglosss need to sell one year forward which expected the revenue contract per year is going to be ineffective as per the US dollar. When the company sell one year forward in US dollar then it will lose money as the value of euro is appreciating and on the other hand the value of the dollar is decreasing. As per the circumstances, to develop the most effective approach of hedging for this company which require certain measure like issuing US dollar bond of the South Carolina Plant, management se rvice fees in Euros as well as bill the home office patent. When the company takes this measure then the risk related to the exchanging currency will be reduced (Campbell, Medeiros Viceira, 2007). Another reason is that the patent and management fees will be paid out of the one third of the total cost which generates from France. The sales of one year forward revenue contract in term of Euros represents that this company gets more investment if the management of the company use spot rate (Berk, DeMarzo and Stangeland, 2010). As per the proposal, the selling of forward expected revenue contract is very effective idea. This is helpful as the management of the company accepted the payment within the two month of purchase (Brealey, Myers and Marcus, 2012). It also noted that the one sixth of the total value is considering the currency risk as per the time frame due to the selling of forward expected revenue contract (Fisher Kumar, 2010). If the above scenario deviates from the calculated revenue then the company will face the trouble. From the calculation it can be observed that the 380 million dollar bonds as per the funding of U.S. plant which can be treated as ineffective investment. The main reason of that the dollar bonds have to be issued as per the US dollar that can provide positive impact to the company (Campbell, Medeiros Viceira, 2007). From the above charts it can concluded that the value of dollar is going to depreciate within the time frame of one year (Brooks, 2013). This situation raises the question if the investors are going to invest in bonds or not. If they invest then they will face the definite loss. In this case the bond holders have to sell the bonds as the money will provide more value to them. This indicates that if this company uses the bond amount to finance the capital for new plant then the company will not get the sufficient fund for future investment. Refrences: Announcements. (2014).Financial Management, 43(2), pp.467-471. Arnold, G. (2013).Corporate financial management. Harlow, England: Pearson. Berk, J. (2013).Corporate finance. [S.l.]: Prentice Hall. Berk, J., DeMarzo, P. (2007).Corporate finance. Boston: Pearson Addison Wesley. Berk, J., DeMarzo, P. and Harford, J. (2012).Fundamentals of corporate finance. Boston: Prentice Hall. Berk, J., DeMarzo, P. and Stangeland, D. (2010).Corporate finance. Toronto: Pearson Canada. Bos, C., Mahieu, R., Dijk, H. (2001).On the variation of hedging decisions in daily currency risk management. Amsterdam: Tinbergen Institute. Brealey, R., Myers, S. and Marcus, A. (2012).Fundamentals of corporate finance. New York: McGraw-Hill/Irwin. Brealey, R., Myers, S., and Allen, F. (2011) Principles of Corporate Finance, 10th ed. McGraw-Hill Irwin: New York. Brooks, R. (2013).Financial management. Boston: Pearson. Campbell, J., Medeiros, K., Viceira, L. (2007).Global currency hedging. Cambridge, Mass.: National Bureau of Economic Research. Campbell, J., Medeiros, K., Viceira, L. (2007).Global currency hedging. Cambridge, Mass.: National Bureau of Economic Research. Chen, C., Yu, C. (2011). International Diversification, Product Diversification, Firm Return, And Firm Risk.Academy Of Management Proceedings,2011(1), 1-7. doi:10.5465/ambpp.2011.1.1cy Chen, C., Yu, C. (2011). International Diversification, Product Diversification, Firm Return, And Firm Risk.Academy Of Management Proceedings,2011(1), 1-7. doi:10.5465/ambpp.2011.1.1cy Christoffersen, P. (2003).Elements of financial risk management. Amsterdam: Academic Press. Clarke, R., Silva, H., Thorley, S. (2013). 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5 Clues Its Time to Get a New Job (Before Its Too Late)

5 Clues Its Time to Get a New Job (Before Its Too Late) Most people are totally excited on the first day of a new job. But after a few months (or years), we can start to lose the love a little. Here are 5 ways to tell whether you’re just bored or if you really should look for another job. 1. Your boss is a jerkSeriously. She puts you down, publicly. She blows up at you in front of everyone. She snaps  at you regularly. This is not good boss behavior. Remember, a good boss will do everything they can to help you succeed and encourage you to grow and improve until you’re delivering your best work. This is in her best interest. If your boss is all nasty and no nurture, it may be time to move on.2. You dread workYou come home running on empty- emotionally and physically and mentally exhausted. And the thought of going back in the morning, or on Monday, fills you with dread. If you feel actual knots in your stomach at the idea of going in to work, it might be time to think about a change.3. You’re too busy to breatheYouà ¢â‚¬â„¢re so busy that you only leave the office to shower and sleep (and even then, not for very long). You’re always on your email or your work phone. And weekends? Haven’t had one of those in months.Remember, if you’re this busy there’s no way you’re actually doing good work. You don’t have time to think! Have a conversation with your boss about taking better care of yourself, managing things, delegating perhaps, and about having at least one day off to recharge. If you can’t get these boundaries set up, you should leave before you burn out completely.4. You’re so boredSeriously, you can hardly make it through the day. You’ve started yawning- not because you’re tired, but because your job is so brain-numbingly boring that you can’t focus or stay awake. If you have one of these jobs where management would rather you have your butt in your chair all day than actually be productive, then you might be better off somewhere else.5. You want something differentWanting to move on to something new or different is natural. Maybe you want a new challenge! Or a change of scenery! Keep in mind you might not have to go nuclear to get this. See if there are any positions in different departments within your company. If you could see this solving the problem, it might be easier than a career change. If you listen to yourself and confront your situation honestly, you’ll know when it’s really time to go.

Needing the Unnecessary Essay Example

Needing the Unnecessary Essay Example Needing the Unnecessary Essay Needing the Unnecessary Essay The luxury craze is breaking into the lives of people of all socioeconomic groups and beginning to spread around the globe. Nowadays, even the average American can drive a Mercedes Benz, shop at elite retail boutiques and enjoy a massage. What was once considered a luxury item is now considered a staple. For virtually any product out there, there is a designer alternative or luxury upgrades that everyone strives to obtain and outdo their pier, pushing normal standards to those of higher and sometimes ridiculous standards. By looking into any standard English dictionary for the meaning of the word conspicuous, one gets a variety of lexicographic entries including â€Å"eye catching†, and â€Å"prominent;† but the word acquires a significantly different connotation in the context of â€Å"consumption† when it clearly indicated the phenomenon of â€Å"wasteful and lavish consumption expenses to enhance social prestige. Based entirely on observation, more than a hundred years ago, Thorstein Veblen (1899) proposed that American rich were spending a significant portion of their time and money on unnecessary and unproductive leisure expenditures and coined the term conspicuous consumption to describe the behavior; this linguistic construct has been used so widely that it has entered into popular English lexicon only in this particular sense of the term (Oxford English Dictionary). Luxury spending, over the last several years has been growing four times faster in the United States than anywhere else. Political leaders characterized the increasing desire for luxury items vital to the health of the American economy as a whole. All layers of society are experiencing and participating in the necessary consumption of unnecessary items and services that have become so readily available to everyday consumers. Luxury is everywhere and is almost impossible for us as consumers to avoid. We see luxury in storefronts, advertisements, radio, and much more. We imagine ourselves surrounded by the luxury items we see in hopes of one day if not already possessing those items. We as Humans are consumers by nature, always desiring more. So many products are claiming luxury status today that the credibility of the category itself is strained: for example, Kmart offers cashmere bedspreads, the name â€Å"pashmina† had to be invented to top cashmere. This would not have happened if luxury items were not so accessible to all classes of society. No we are not rational when it comes to spending and consuming the luxury items out there. In fact, we as consumer are more irrational than rational, with most everything purchased being made on impulse. It is important for us to rethink the separation between production and consumption, for they are more alike than separate and occur not at different times and places but simultaneously. That is the underlining question and what James Twitchell has shown us.

Sometime in the future oil will become more expensive. investigate the Essay

Sometime in the future oil will become more expensive. investigate the effects of this on the market for oil and the market for - Essay Example Nations must now come to terms with the harsh reality that dependence on oil is as short-term solution and the other sources of renewable as well as green energy must be considered. Hubbert (1956) had predicted that the production of oil in America followed a bell shaped graph trend. He stipulated that the peak of oil production was to be attained in 1970 after which production will assume a downward trend. His prediction reigned despite sharp criticisms. He then predicted a global peak to be witnessed in the year 2000. Michael Lynch fronted that the production of oil must be closely tied to oil prices. He argued that Hubbert committed a mistake in assuming that geology is the motivating factor to the discovery, production and depletion of oil. He advocated for supply and demand as the key determinants in the oil industry. "To an economist, the drop in exploration reflects optimal behavior: they do not waste money exploring for something they will not use for decades.† he added . Factors that influence the price of oil. Economic growth is one of the key factors that affect oil prices. A steadfast economic growth will result in an increase in the demand for oil and its byproducts. It thus exhibits a direct relationship with the price of oil. Even as countries seek to experience a rapid economic growth, they need to focus on other sources of energy so that their increased demand for energy can be met adequately. Another factor according to Watson (1987) that affects the price of oil is the seasonal changes. It has been observed that during winter oil prices increases rapidly in Europe and the U.S.A due to the increased demand. Before the beginning of winter, consumers tend to buy excess of oil and its products due to fear of possible. However during summer, demand tends to decrease especially that of domestic use. Energy substitutes such as coal, natural gas and nuclear energy that can replace oil will also determine its price. If more alternative sources of energy are discovered, overreliance on oil will decline and the prices will tend to decline. Foreign exchange affects oil prices since oil is traded internationally and the U.S dollar is the main currency used. Therefore appreciation or depreciation of the local currencies against the U.S dollar will significantly affect the price of oil. When the dollar weakens, the prices of oil will escalate. Increase in oil prices will also lead to high export bill resulting in trade deficits and a further weakening of the dollar. Policies of Organization of the Petroleum Exporting Countries (O.P.E.C) also affect the demand and supply of oil. This further affects prices. Being one of the largest oil regulatory body, their actions will greatly affect production levels as well as international prices. Countries with high production capacity as well as high oil reserves have got high bargaining power in terms of prices. Causes of high oil prices. Instability in the Middle East is a key factor that has led to increase in oil prices. Middle East countries such as Iran, Saudi Arabia and United Arab Emirates form major producers as well as exporters of oil. Iran has not had cordial relationship with the west especially the U.S.A. At times they have threatened to hoard their oil so as to frustrate them. A decline in the exportation of oil by these countries will create a serious shortage thus increasing the prices. Political unrest being witnessed in other oil producing counties in Africa has also affected greatly the production of oil thus resulting in an increase in prices. The recent political turmoil witnessed in Libya, led to a decline in the

The Movement For The Survival Of The Ogoni People Essay

The Movement For The Survival Of The Ogoni People - Essay Example Weak and isolated, minority communities sought to internationalize their struggles in a political system largely dominated by three larger ethnic groups (Obi, 2000a, p. 67). Out of the cauldrons of minority protests rose The Movement for the Survival of the Ogoni People (MOSOP) mounting sustained mass mobilizations through robust local and international support networks towards a worthy moral course-gaining economic control of resources mined in their ancestral homeland through political inclusion. The Movement organized the Ogoni people to demand â€Å"political autonomy† within their system effectively drawing the world’s attention through conflict with the Nigerian government, Shell Oil Company and a host of multinational corporations, all sourcing to benefit from the regions’ oil wealth. Indeed, since the 1990s, the movement’s dynamism in its tactical approaches drew international support with numerous non-governmental organizations (NGOs)such as Human Rights Watch, Friends of the Earth and Greenpeace coming to their aid in one way or another (Human Rights Watch 1993; Friends of the Earth-Netherlands 1993; Greenpeace International 1994). The movement’s activities were so intense pressuring the government to the brink prompting a three-year of harsh repression on the entire Niger Delta with the execution of MOSOP’s leader Ken Saro-Wiwa in 1995 in a bid to smash dissenting voices domestically-an act that branded the system a pariah regime in the eyes of the international community (Obi, 2002, p. 30-41). As a matter of fact, the history of this particular movement has been punctuated with intrigues and turns with the principal aim of getting their government to lend them listening ears so as to deliver their grievances. This paper sets out to analyze the tactical activities of the Movement for the Survival of the Ogoni People (MOSOP) with due regard to its relations with multinational oil business companies operating i n the Niger Delta. Summary Background of MOSOP Tactics and Its Evolution to the Present The history of man has been one characterized by occasional resurgence with distinct causal identities comprising of hyper nationalist beliefs, contentious religious principles, ethnical cleavage thinking, secessionist claims, and denial of fundamental inalienable human rights, environmental rights being at the epicenter in the recent times. The era after the Cold War markedly witnessed these identities antagonize each other for control of socio-political as well as economic scenes with events that occasionally tended to mount serious challenges to state authorities. Seemingly, Nigeria went through the test with near statehood collapse. The emergence of armed ethnic militias in Nigeria’s Niger Delta in the early 1990s was largely informed by marginalization of the minority communities, constituting social deprivation of fundamental, basic rights (Harper, 1996, p.42-47). The 21st century ha s seen indiscriminate use of lethal weapons giving way to conflagration of all sorts against the dysfunctional political structure of the state as well as oil multinationals’ policies infringing on the locals rights. Basically, these ethnic militias emerged with the sole purpose of challenging the poor choice of policies over environmental degradation emanating from oil extraction with little or no return at in certain instances (Onishi, 2000, par.2-4). Without

Multilateral Approach to Climate Change

Multilateral Approach to Climate Change MULTILATERALISM CLIMATE CHANGE What will it take for the US to embrace a multilateral approach to confront climate change? In your answer, please consider: Overall US attitudes toward multilateralism and global governance What terms for a successor agreement to the Kyoto Protocol might the US find acceptable? According to the United Nations Framework Convention on Climate Change (n.d.) (UNFCCC), climate change is a complex problem. It touches all aspects of our lives, be it environmental or our very purpose in this world. We need to educate one another on the impacts of climate change globally. The centre of this environmental issue as agreed by everyone is the need to reduce emissions. In 2010, the countries in the UNFCCC had reached a consensus that the greenhouse gas (GHG) emissions must be reduced and managed in such a way that global temperature does not see any hike by more than 2 degrees Celsius. It is clear that global warming is a serious issue. The American public and the rest of the world saw Al Gore’s ‘An Inconvenient Truth’. So why did the US fail to legislate a policy on climate change? According to Skjaerseth, Bang Schreurs, (2013), there are three possible explanations on this matter, namely, differences in agenda-setting privileges, potential for issue linkages and law-making procedures and formal leadership. Agenda-setting privileges refer to the setup of lawmakers in the US. The lawmakers have to tip the balance between promoting an agenda for greater good in the interest of the constituencies and getting a re-election. Issue linkages essentially involve a joint negotiation of two or more issues where it is believed that linkages can improve the chance of an agreement. Lastly, the law-making procedures, these are the political institution settings. The American setting is such that the bill sponsors or the leaders who champion the policy propo sal have to trade off rules, procedures and norms in the legislature with the home state economics, in order to arrive at a winning coalition. The US Senate is represented by states which have different interests individually. For instance, coal, agricultural and manufacturing states are commonly against carbon pricing as it adds to their production costs. One may tempt to accuse the US as pure selfish for not acting in concerted effort to stem global warming. The US is the world’s largest greenhouse gas (GHG) emitter and yet it refused to join the multilateral effort of the Kyoto Protocol (KP). 191 countries and the European Union signed the KP cooperation to curtail the average global temperature hikes and the consequential change in global climate. The developed member countries of the KP are legally bound to achieve a target in emission reduction in the KP’s first commitment period started in 2008 and ended in 2012. In December 2012, the Doha Amendment to the KP was adopted which launched a second commitment period, starting on 1 January 2013 until 2020. KP was governed by the UNFCCC, see UNFCCC (1997). Because of the higher level of GHG emissions are caused by the developed countries, the KP is therefore binding on these countries to achieve those set target. The developed countries have contributed to more GHGs in the atmosphere since they have gone through more than 150 years of industrialisation, hence the heavier burden. Why was the US unable to embrace multilateralism? Multilateralism can be defined as the practice of coordinating national policies in groups of three or more states, through ad-hoc arrangements or by means of institutions (Keohane, 1990). Since the commencement of the KP, the European Union (EU) has been successful in legislating KP in its member states. According to Skjaerseth, Bang Schreurs, (2013), the EU, in December 2008, has passed a comprehensive legislation on the 20-20-20 targets. They called for a 20% reduction in greenhouse gas emission, a 20% increase in the share of renewable energies in overall energy consumption and a 20% cut in primary energy consumption. So why didn’t the United States become a party to the KP? US President Bill Clinton signed the 1997 KP but never submitted it for Senate consideration. This example of a failure by the US to ratify an environmental treaty is not exceptional. The US Department of State (n.d.)’s website reported of many major multilateral environmental agreements that had failed to achieve ratification from the Senate. According to Hovi et.al. (2010), the way the KP was designed, it stood no chance of getting any ratification from US Senate. In 1997, five months before the KP meeting, the Senate passed the Byrd–Hagel resolution (Byrd–Hagel). In 2001, President Bush echoed the sentiments of Byrd–Hagel: ‘I oppose the Kyoto Protocol because it exempts 80% of the world, including major population centers such as China and India, from compliance, and would cause serious harm to the US economy. What would it take for the US to have a hand in the global governance of climate change? It has after all made itself the world’s policeman in some war-torn areas. It had negotiated responses to problems that affect more than one country. So clearly, the US has no qualm in embracing global governance then. Now, what would it take for the US to change its mind on joining KP in its second commitment period? Will it enter the fray if developing countries like China and India sign up? Or does it take an international embargo on these major GHGs to reduce their carbon footprints? Hovi Skodvin (2008) concludes that any efforts to seek the US to sign up with the successor of the KP are likely to fail. One main reason is that the US cannot be threatened to sign on any trade or technology cooperation as the threat would just be unbelievable. A common approach by the U.S. is â€Å"to act first at home and then to build on it at a global level†, see Purvis (2004). So instead of facing the divided government and upcoming elections, the US lawmakers can focus on its own internal environmental regime. This federal climate policy can mimic the KP’s requirement that is to reduce the GHG emissions to 7% below 1990. Successful policies were implemented nationwide on the renewable energy. While others agreed on cap-and-trade system aimed at reducing carbon dioxide emission from power plants. This way, perhaps the American public would be more inclined to push for the US’ role in international level. The key to the success of the implementation of the KP lies on its effective compliance commitment by the member countries. Therefore the world leaders have to come together and decide if confronting the issue of global warming is indeed a priority. If they are worried about the loss of economic bargaining chips, the same can be said about the potential from creating renewable energy sources and making them available to the world. So KP is an excellent platform for the world communities to embark on this green mission to preserve planet earth. References: United Nations Framework Convention on Climate Change. (n.d.). Background on the UNFCCC: The international response to climate change. Retrieved from: http://unfccc.int/essential_background/items/6031.php Skjaerseth J.B., Bang G Schreurs M.A. (2013). Explaining Growing Climate Policy Differences Between European Union and the United States. Global Environmental Politics Vol. 13, No.4. p. 61-80. United Nations Framework Convention on Climate Change. (1997). Kyoto Protocol. Retrieved from: http://unfccc.int/kyoto_protocol/items/2830.php Keohane, R.O. (1990). Multilateralism: an agenda for research. International Journal Vol. 45, No. 4. p. 731-764.http://www.jstor.org/action/showPublisher?publisherCode=sageltd Retrieved from: http://www.jstor.org/discover/10.2307/40202705?uid=3738672uid=2129uid=2uid=70uid=4sid=21103954165271 US Department of State. (n.d.) Treaties Pending in the Senate (updated as of May 7, 2014). Retrieved from: www.state.gov/s/l/treaty/pending/index.htm Hovi, J, Sprinz, D.F. and Bang, G. (2010). Why the United States did not become a party to the Kyoto Protocol: German, Norwegian, and US perspectives. European Journal of International Relations. DOI: 10.1177/1354066110380964 Hovi, J Skodvin, T. (2008). Which Way to U.S. Climate Cooperation? Issue Linkage versus a U.S.-Based Agreement. Review of Policy Research. Volume 25, Issue 2, p. 129–148. Purvis, N. (2004). The perspective of the United States on climate change and the Kyoto Protocol. International Review for Environmental Strategies 5(1). P. 169–178.

Tobacco and the Brain Essay -- Biology Essays Research Papers

Tobacco and the Brain Recent surveys show that 25 % of all American adults smoke despite the fact that tobacco is the No.1 cause of death (430,000 annual) and disease in this country (1). The life of a 30-year older that smokes 15 cigarettes a day is shortened by an average of more than five years (2). Why do people smoke despite the fact that it shortens their life? Why has this practice of smoking tobacco been around for 1000 years? There must be something that the human body or mind gains in spite of the threat of an early death. I realize this craving for nicotine on a personal level because I smoke. Smoker's self-reported motives for smoking include stress reduction and improved circulation (3). That sounds like my reasons. Plus smoking is like a friend that I visit and have a good time with, something that I enjoy being with. Smoking cigarettes produces a rapid distribution of nicotine throughout the body, and reaching the brain within 10 seconds of inhalation (4). The nicotine causes a release of dopamine, neurotransmitters that carries information across synaptic clefts, in the dopamine circuit. This circuit, known as the brain's pleasure center, is an anatomically small cluster of cells. It has evolved over millions of years and mainly seems to reward activities that increase the likelihood of survival, such as sex and eating. This cluster of cells might be small but it reaches into regions of the brain involved with a variety of tasks (4). . These dopamine-releasing pathways course from the evolutionary older part of the midbrain to the hypothalamus and trigger activity of other cells, that extend from one part of the midbrain to an area in the forebrain known as the nucleus accumbens (2). It also branches out t... ...reatments further improves smoke cessation success rates (4). Considering the high death rate due to smoking and the difficulty of withdrawing from this deadly addiction, it is not a good sign that America's youth cigarette usage is escalating. Smoking prevalence among adolescents has risen dramatically since 1990, with more than 3,000 additional children and adolescents becoming regular users of tobacco each day (1). WWW Sources 1)Quick Facts about Nicotine http://ctri.wisc.edu/sub_dept/quick_facts/ 2)Interesting Science http://www3.interscience.wiley.com/cgi-bin/home?CRETRY=1&SRETRY=0 3) Gleitman, H., Fridlun, A., and Reisberg, D. Psychology. Fifth Edition. New York. W.W. Norton & Company. 1999 4)U.S. Government Research Reports , http://nida.gov/researchreports/nicotine/ 5)MSNBC News Website , http://msnbc.msn.com/news/263658.asp .

Fpi Assignment

Executive Summary The report is regarding to the knowledge of analyzing the accounting data of a listed company, using the various accounting information that provided to identify and examine the competitiveness and efficiency of the listed company. Besides, in order to examine the reliability of the data provided, analysis of the balance sheet and income statement is required. The financial information can be obtained from the annual reports of Harbour-Link Group Berhad.In addition, the report is required to include the top-down approach which consists of Economic analysis, Industry analysis and Fundamental analysis to analyze the listed company in the point of view for investors. Table of Content 1. Introduction 1. Objectives 2. Analysis of the statement of financial position, the statement of financial performance and cash flow statement. 1. Financial Analysis ratio: Asset efficiency ratio Capital Structure ratio Liquidity Ratio Profitability Ratio Share Price 3. Economic Analysis 4. Industry Analysis . Conclusion 6. Findings 7. References Introduction In this report, Harbour-Link Group Berhad is chosen among the listed companies. Harbour-Link Group Berhad is an investment holding company which provides shipping, forwarding and transportation, plant and machinery hiring, and engineering contract services primarily in Malaysia and Singapore. Harbour-Link Group Berhad was founded in the year of 1975 and it is based in Bintulu, Sarawak, Malaysia. It was officially listed on Bursa Malaysia Securities Berhad in the year of 2004.Today, Harbour-Link Group’s success lies in its strong foundation of expertise in the industry and its ability to established the company as a reputable brand-name within the shipping, sea freight forwarding and transportation industries. Objectives 1. To identify the sources of funds, Balance Sheet and profit or loss of the Harbour-Link Group Berhad. 2. To analyze accounting data of Harbour-Link Group Berhad to examine its financia l performance using Financial Performance Indicators (ratio analysis) 3.To analyze the economy status, competitors within the same industries and evaluate the operating efficiencies of the listed company. 4. To examine the competitiveness and efficiency of the listed company by using the various accounting information provided. Financial Analysis Financial analysis ratios are used to examine the financial performance of a company in which it will be reflected in the ratios calculated. (Giles et al, 1994, p. 371) Asset efficiency Ratios Asset turnover ratio From the data calculated, the asset turnover ratio for the financial year of 2008, 2009 and 2010 are 109. 9%, 92. 12% and 79. 65%. This indicates that the Harbour-Link Group Berhad is not doing well in the sales of the products or services because the asset turnover ratio is decreasing from year to year. Debtor turnover (in days) Debtor turnover is the debtor collection period of a company. Harbour-Link Group Berhad had a debtor t urnover of 73 days in the year of 2008. In the year of 2009, the debtor turnover is 77 days. However, its debtor turnover is decreased to 71 days. This reflects that the possibility of default risk for the debtors is decreasing.In fact, this is a good thing in a company. Inventory Turnover Inventory turnover measures how many times the company can sell through its inventory for each year. In the year of 2008, Harbour-Link Group has an inventory turnover of 163 times. The turnover increased to 212 times in the financial year of 2009 but the inventory turnover decreased to 127 times in the year of 2010. This reflects that the company can sell better in the year of 2009 but it dropped tremendously in the year of 2010. Capital structure Ratio Debt to equity ratioThe debt to equity ratio of Harbour-link Group Berhad is decreasing from the year of 2008 to 2010 by 2%. This is caused by the reducing of total liabilities and the increasing of the total equity. Time interest earned The times- interest-earned ratio allows a lender to evaluate the company’s ability to meet its debt obligation. It is a ratio of the earning before interest and tax over the interest expenses. The time interest earned has a slightly increased from the year of 2008 to year 2009 but it has a greater decrease in ratio amount from the year of 2009 to year 2010.This means that in the year of 2010, Harbour-Link Group Berhad have lesser earnings are available to meet the interest payments and this makes the company to be more vulnerable to the increases in the interest rates. Liquidity Ratios Liquidity ratio is the ratio that is used to examine the liquidity of a company. It includes: Current Ratio Current ratio is the ratio of current assets to current liabilities. Harbour-link Group Berhad has it current ratio decreasing from the year of 2008 to 2010. Its current ratios are 1. 90, 1. 76 and 1. 57 respectively. The ratio is decreased by 14% and 19%.The data is calculated as shown in the findi ngs. Liquid Ratio Liquid ratio is the ratio of (current assets-inventory) to (current liabilities-bank overdraft). Harbour-Link Group Berhad has borrowings so there is bank overdraft existed and that’s why it is classifies as a debt financing organization. The company has a higher liquid ratio of 2. 34 in the year of 2010 compared to the year of 2008 and 2009 which is 1. 88 and 1. 75 respectively. The liquid ratio of the 3 financial years exceeded 1 and this indicates that the current assets are greater than the current liabilities.Higher liquid ratio reflects better performance of the company. Net working Capital Net working capital is the difference between current assets and the current liabilities. In the three financial years, Harbour-Link Group Berhad has the highest net working capital of RM 51. 4 million in the year of 2008. The figure of net working capital for Harbour-link Group Berhad decreased in the year of 2009 and 2010 by 0. 43% and 12. 32% respectively. This s hows that there is a drastic drop in the net working capital of year 2010. Profitability Ratios EBIT to total funds ratioEBIT to total funds ratio of Harbour-Link Group Berhad is decreasing in the range of 22% from the financial year of 2008 to 2009 and 21. 4% from the financial year of 2009 to 2010. The total funds consist of shareholders’ funds and borrowings. According to the annual report, Harbour-Link Group Berhad is practicing debt-financing to raise funds because there is borrowing existed. Return on Equity (ROE) Harbour-link Group shows a decrease in net income from year 2008 to 2010. This situation leads to the decrease in the return on equity (ROE) of 5%.In the financial year of 2010, it has the ROE of 0. 08 which indicates that for every RM1 of the capital that the shareholder invested into, they will get 8% of return. Return on Assets The return on assets measures the productivity of assets in terms of the level of profits each dollar of assets generates. (Karen D . H, 2004, p. 131) The return on assets of the Harbour-Link Group Berhad is decreasing from the financial year of 2008 to 2010. It decreased from 8% of year 2008 to 7% in the year of 2009 and then 5% in the year of 2010.This implies that the productivity of the company’s assets is not doing well in terms of profits that the assets generated. Net Profit Margin The net profit margin is the ratio of net profit after tax to the total revenues. In the financial year of 2008 and 2009, Harbour-Link Group Berhad has the net profit margin figure of 8%. It indicates that the company has a net income of RM0. 08 for each RM1 of sales. However, the net profit margin for the year of 2010 decreased by 2% which is only 6% in the financial year. This shows that for every RM1 of sales made by the company in year 2010, the net income is only RM0. 6 which is RM0. 02 lower than the previous year. Share Price Price to Earnings Ratio (P/E) Price to Earning ratio is calculated by using the share pri ce of the year 2010 over the earnings per share. The market price of Harbour-Link Group Berhad was amounted to RM 0. 72 in the year of 2010. From the annual report of the financial year of 2010, the earning per share is RM 0. 11. By using the formulae, the price to earning per share of 2010 is calculated as shown in the table with a figure of RM 6. 825. Current Economic Analysis Roots of Global financial crisisGlobal financial crisis are usually caused by bad regulation of the banking sectors, failure of fiscal and monetary policy implemented and so forth. In the year of 2008, Financial crisis began with the declared of bankruptcy of Lehman Brothers Holdings Inc. which is the fourth largest investment bank in United States. It was a severe ongoing world financial problem that began in U. S in the year of 2008. This recession has entirely hitting on the fragile global economy with the tremendous devastation in countries all around the world. The U.S government was trying to point the finger of the financial crisis to the rating agencies, who knew about the great risk that was coming but kept giving high reliability ratings to companies that did not deserve them and thus investors invested in the wrong companies. The cause of the bankruptcy of Lehman Brothers Holdings Inc was the accumulation of debt and the increasing of loan defaults. Why it evolved into a world crisis The news on bankruptcy of Lehman Brothers Company led to the drastic fall in the share price all over the world.The company had billions of dollars losses incurred in the mortgage market of United States. (BBC NEWS, 16th Sept 2008) In Lehman Brothers’ case and the other investment banks, the problem was provoked by 2 major factors which are the very high level of leverage ratio and the dependence on short-term debt financing. Commercial banks cannot leverage their equity more than 15 to 1 as they are regulated but for Lehman Brothers Company, it had a leverage ratio of more than 30 to 1. According to the table 1, Lehman Brothers had only $3. 30 of equity for every $100 of loans. With this ratio, it makes the company to be insolvent.Conversely, the instability arose from the leverage problem was aggravated by the strong reliance on the short term debt. Based on table 1(Lehman Brothers Liabilities and shareholder’s equity), at the beginning of the crisis, the company financed greater than 50% of the assets. Reliance on short term debt financing is profitable indeed when it comes to a low interest rate market environment. However, when the company faced rumors of the insolvency problem, the short term lenders will start to have doubt on the company’s performance and therefore, they will start to withdraw their funds from the company for self interest protection.This scenario will lead to a shortage of liquidity for the borrower and thus the company tends to default. After the crisis began, Lehman Brothers did try to decrease its leverage and reduce its de pendence on the short term borrowing but it was too late for them to amend the situation and therefore, bankruptcy occurred. The bankruptcy of Lehman’s brother forced the reassessment of risk in the market by looking at the price of the credit default trades. Impact on Malaysia and world economies The crisis started in the year of 2008 had a great hit on Malaysia and world economies.It causes the gas price had a drastic drop, decreasing of the value of real estates, the increasing of unemployment rate, Federal debt crisis and inflation. There is a global explosion in commodities price. The price of crude oil was remaining at high levels for few years till the end of 2008, the crude oil price dropped from the peak in July 2008 of US$145 to US$30. 28 per barrel in December 2008. (Forbes, 2008) According to the findings in table 2, the unemployment rate of Malaysia increased by 3. 13% from the year of 2008 to 2009 and 12. 12% from the year of 2009 to 2010.Malaysian future econom ic At first, Malaysia was aiming to have 9% of average annual Growth Domestic Product (GDP) until 2020. Suddenly, according to the Economic Planning Unit, the government noted that the number is absurd then they changed and told that Malaysia was capable to achieve 5. 4% of Growth Domestic Product (GDP) annually over the next 10 years to achieve the objective of becoming a high income economy by 2020, which is the vision 2020 (East Asia Forum, 2009). These seem that Malaysia’s economic future is uncertainty. It keeps changing.Besides, Malaysia’s government has a close relationship with its private businesses. Because of the relationship with some business groups have ostensibly led to the emergence of political cronies with unlimited access to public resources. Not only the relationship that mention above but also the experience of neighbouring Indonesia shows that it is a dangerous trend that could negatively affect economic development in the future. In this matter, changes in political leadership led to unstable political environment. Although it does not directly effect on Malaysia, it threatens he influx of refugees caused damage regional stability and social stability. Malaysia's maritime economy can be defined as the production and manner of use of the range of goods and services that are linked to the maritime sector (Abdul Aziz Abdul Rahman, 1997). It covers the activities that are resource based, including fisheries, oil and gas, marine biotechnology and those that are service based such as shipping ports, shipbuilding and repair and the myriad range of ancillary maritime services (Maritime Institute of Malaysia,2005).Malaysia's main concern is the future of marine economy of the future of Malaysian trade, because the country's foreign and domestic trade, or even almost totally dependent on sea transport facilities. From this we can know that it will have a very bright prospect in maritime economy. If Malaysia is to achieve the goals of industrialization, productivity-driven growth and enhancing competitiveness will depend on how the maritime sector is managed. The maritime sector has a main role to play in enhancing productivity-driven growth. An important element that will affect efforts to sustain international competitiveness is productivity.But, for longer term, Malaysia will need to maintain its international competitiveness, since there is rising competition from other emerging markets for Foreign Direct Investments (FDIs) and for the transfer of modern technologies. Environmental issues are also important for Malaysia in the longer term as deforestation and global climate change may destabilize the country's agriculture, which still plays an important role in the national economy. What is the most important is the political will effect a change to system-centred thinking in planning the future of the economy. So, a stable political environment is very important to Malaysia.If the political environment of M alaysia is good, it will have a bright future of economy. Solutions to the Global Financial Crisis or crises in general. Banks and financial institutions can cause a downswing of an economy because of their ignorance of the business cycle. Besides, bankers are greedy with the fat bonuses that they will gain if they get the highest market shares results. When the economy is doing well, they expect that there will be no recession problem is going to occur and therefore they will give loans to their customers without considering their customers’ affordability to repay the loans.Once their customers cannot afford to repay the loans, recession will occurs. To overcome these crisis problems, several steps can be used. Government and bankers often intervene to smooth the peaks and valleys of the economic cycle. There are two objectives that the government and bankers can do to prevent serious downswing of an economy. 1) Speedy intervention to prevent a self-perpetuating downward spi ral, which means protecting depositors at minimal long term cost to the taxpayer.For example, the Federal reserve may restrict the money supply in good times to slow the expansion phase of the economic cycle, or deficit spend and cut interest rates to ease the recessionary phase of an economic cycle. 2) Ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place. The growth of consumer credits will increase the consumption of the consumer. The increase in the consumption will increase the aggregate demand of the country whereby AD equals to C + I + G + (X-M). Mc Taggart et al, 2007 p. 766). When the AD is increasing, it means that GDP is also increasing. This shows that the consumer credits provided will also be increased and therefore people will keep on borrowing money from the banks for consumption. This situation actually can amplify the business cycle a nd extend the upswing of the economy. Industry analysis The domestic and the world economy were in a downturn in the year of 2009. All the industry was affected and they are making an effort to maintain their previous performance and growth momentum. In the year of 2009, Harbour-Link Group Berhad suffered revenue declined by 5. 9% to RM 327. 6 million. The revenue decreased again by 5. 76% to RM 308. 7 million compare to the previous year due to lower selling prices and softer consumer demand. One of the Company competitors, Swee Joo Berhad was also suffered by achieved a turnover of RM 346. 7 million which is 9. 9% lower than the previous financial period. The lower turnover was also impacted by the recovery state for the economy. Swee Joo Berhad has a reduce in current ratio from 0. 648 to 0. 278 which seems to be lower than that of the Harbour-Link Group Berhad and therefore Harbour-link seems to have a better current ratio.Swee Joo Berhad has a negative figure for its Earnings b efore interest and tax of -11. 32 million and -176. 82 million in the year of 2009 and 2010. This is a huge loss for the company. It shows that Harbour-Link has a better performance than its major competitor, Swee Joo Berhad. Although the economy showed signs of recovery, but most of the economists hold that the sustained global recovery is still vague. This situation greatly influenced the consumers spending behavior. According to the Edge, Harbour-Link Unit obtained the secured contracts of RM75. 2 to supply gantry cranes for the Bintulu Port Sdn Bhd.The contracts were expected to be done in the year of 2012 and it’s also expected to escalate the future revenue and earnings positively for Harbour-Link Group Berhad. (The Edge, 11 April 2011) There are several ways for the companies to perform better during this hard period. However, the suppliers are also important causes which will affect the company performance. Although Harbour-Link Group Berhad suffered lower revenue dur ing the year, however, it obtained quite a number of big projects with a favorable amount of contracts worth which is believed to boost the revenues for the future of the company itself.This scenario will assist Harbour-Link Group Berhad to create a stronger visibility and allow it to be well positioned for the economic recovery. Findings [pic] Table 1 shows Lehman Brothers Liabilities and Shareholders’ Equity Source: Lehman Annual Reports |Year |Unemployment Rate |Percentage Change | |2006 |3. 60 | | |2007 |3. 50 |-2. 78% | |2008 |3. 20 |-8. 7% | |2009 |3. 30 |3. 13% | |2010 |3. 50 |12. 12% | Table 2 shows the unemployment rate in Malaysia Source: CIA World Factbook Conclusion In conclusion, although the Harbour-Link Group Berhad has a downturn in its overall performances in the financial year of 2009 and 2010 as the results shown in the findings, but it has a better performance than its main competitor, Swee Joo Berhad in the shipping industries.The Harbour-Link Group Berha d is overall well organized in its financial statements as shown in the annual reports and it can be categorized as a profitable and successful listed company in Malaysia. On the perspective of investors, Harbour-link is counted as a good investment company and therefore investors are advised to consider Harbour-link Group Berhad as one of their investment company because the company has a good expectation to have a huge increase in its future economic benefits.The future economy of Malaysia is expected to have a good return and therefore this ensure that Harbour-Link Group Berhad is a wise investment for the future benefits. 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