Words Essays - Parts Of Speech, Adverb, Adjective, Verb, Copula

Words WORDS the ones we continuously misuse and confuse Luke Bobek Final Paper Semantics 04/25/00 Why write a paper on some obscure and complicated subject that you won't remember what you wrote two days after you turn the paper in? All that time on the computer and in the library finding information on something you are interested in only because of a grade. Then say you put in fifteen hours in on a paper and you get a C, you feel like you wasted your time. Well, I've decided to write this paper on something that really caught my attention, something I that really interested me. While I was researching my previous topic for this paper, Language in Advertising and the Psychology Behind It, I came across a web site dedicated to commonly confused words. After reading a few I felt really stupid because I didn't know the difference between a number of the sets of words. I then went on a hunt for other sites that featured commonly confused words, and I found a ton. I decided to ditch the old topic and write the paper on commonly confused words. It subject relates to the course and int rigues me. I've compiled a list of the most commonly confused words which starts on the next page. 1) Affect / Effect Affect is a verb meaning ? to influence or change.? Effect is usually a noun meaning ? result.? (3) 2) Accuracy / Precision Accuracy is the agreement between the true value and the result obtained by the measurement. Precision is the agreement among repeated measurements of the same quantity. (1) 3) Alright / All right Alright is not a word. All right is two words. (1) 4) Allusion / Illusion Allusion is a noun that means an indirect response. Illusion is a noun that means a misconception. (4) 5) Amusement Park / Theme Park An amusement park is where people go to have fun with food, rides, and shows. A theme park is an amusement park with a theme, a subject that everything in the park has in common. (4) 6) Alternate / Alternative Alternate is to occur in successive turns; first one, then the other. Alternative means substitute or second choice. (1) 7) Assure / Insure / Ensure Assure means to convince or to guarantee. Ensure means to make certain or make sure. Insure means to guard against loss. * Assure and ensure are often used interchangeably, yet they have to different meanings. You assure someone that something has been done. You ensure that something has been done. (1) 8) Besides / Beside Besides is an adverb that mean also. Beside is a preposition that means next to. (2) 9) Bimonthly / Semimonthly Bimonthly is an adjective that means every two months. Semimonthly means twice a month. (2) 10) Cement / Concrete Cement is the powder in the bag that is used to make concrete. (1) Concrete is the substance made from cement, water, sand and gravel. 11) Cite / Site Cite is a verb that means to quote as an authority or example. Site is a noun meaning location. (2) 12) Cologne / Perfume Cologne is a scented liquid made from alcohol and fragrant oils. Perfume is a quickly evaporating scented oil either obtained from flowers or manmade. (1) 13) Complement / Compliment Complement is a noun or verb that means something that completes or makes up a whole. Compliment is a noun or verb that means an expression of praise or admiration. (3) 14) Connote / Denote Connote is a verb that means to imply or suggest. Denote is a verb that means to indicate or refer to specifically. (4) 15) Continual / Continuous Continual means to be repeated regularly and frequently. (3) Continuous means to be extended or prolonged without interruption. 16) Dinner / Supper A dinner is always the main meal of the day, whether it is eaten at noon or in the evening. A supper is eaten only in the evening whether it is a large or small meal. (4) 17) Discreet / Discrete Discreet means prudent, circumspect, or modest. Discrete means separately or individually distinct. (4) 18) Disinterested / Uninterested Disinterested means unbiased or impartial. Uninterested means not interested or indifferent. (3) 19) Dough / Batter Dough is a thick mixture of flour, liquid, and other ingredients that is usually rolled or shaped into bread and other baked goods. Batter is a thinner mixture than dough and is made of flour and liquid. (4) 20) Envy / Jealousy Envy is the desire to have something that another person has and the

The Morality of Science essays

The Morality of Science essays There are two parallel stories in Mary Shelleys Frankenstein, one of attempting to discover the secret of life and the other of forcing nature to open her secrets to man (Neal). This novel can be looked by combining those two stories into a theme of the scientist who seeks to play God and what happens to him in his quest to create life from death. When looking at the book in this regard, the reader discovers the dangers inherent in defying the natural order, (Neal) and the potential consequences of scientific discovery. Victor Frankenstein, fascinated with scientific exploration in the physical world, embarked upon an experiment that forever changed his life and that of his family and friends. During his studies away from home, Victor foolishly decides that he will play God. I will pioneer anew way, explore unknown powers, and unfold to the world the deepest mysteries of creation (Shelly p. 47). What lies behind Frankensteins scientific projects is obviously an attempt to gain power (Damyanov). Victor devotes himself to his task of creating life from death for a period of two years without once considering the implications of the result of his experiment. Thoughtless Victor built in no safety controls, no device to assure that only good actions would be performed (Neal). Shelley warns us of the dangerous division between the power-seeking practices of science and the concerns of humanists with moral responsibility, emotional communion, and spiritual values (Damyanov). Victor invested so much selfish care and time into his creation and never thought of the implications of his success. As if almost seeing into the future, Shelly gives us a warning to consider the final effects of scientific exploration and experiment (Neal). Neglecting all moral implications of his creation, Victor completes his work. Victo...

Analysing Delegation In Transition To Professional Practice Nursing Essay

Analysing Delegation In Transition To Professional Practice Nursing Essay Newly registered nurses or nurses re-entering the workforce face many challenges. One of these issues is delegation. In this essay you are required to develop an in depth and detailed understanding of delegation and how it apply to you as a newly registered nurse. You will need to critically analyse the literature to: Define delegation and how it applies to the registered nurse in the clinical setting Analyse the role of the registered nurse in relation to the responsibility of delegation Analyse the relationship between accountability and delegation Discuss how delegation is different to patient allocation Analyse how professional competence impacts on delegation with specific reference to clinical effectiveness Discuss the interpersonal relationships of team members when delegating within a team Introduction Being a newly Registered Nurse entails a lot of challenges, how we deal with our clients and effectively communicating what their needs are in a multi-cultural setting gives u s these difficult tasks of rendering proper and appropriate health care. RNs (Registered Nurses) are known to provide care from womb to tomb, without preference to age, gender, race, religion and status. RNs need to understand the importance for them to know by heart, what are the tasks they can delegate to their co-workers because problem could arise if tasks are delegated inappropriately and clients would be the one to suffer the consequences. Delegation of activities will be relied more heavily due to decreasing workforce and increasing workload that’s why nurses should understand fully the different guidelines on how one can appropriately apply delegation in their professional practice. The role of RN in the delegation process takes unprecedented importance. The independent licensee of the RN imposes a legal accountability on the part of the nurse to the patient/recipient of care. This becomes a primary responsibility, with the accountability to other disciplines or the e mployer being secondary. Because the RN is responsible for the practice of other lesser skilled licensed or unlicensed nursing personnel (i.e., Enrolled Nurses and Unlicensed Health Care Worker), it is imperative that registered nurses understand the guidelines and parameters set for delegation and training. All RNs and midwives must be willing to accept accountability and responsibility when undertaking activities within their individual scope of practice after considering: legislation or restriction of practice, professional standards of practice, current evidence for practice, individual knowledge skill and competence and contextual/organizational support for practice [Nursing Board of Victoria (NBV) 2007]. The responsibility of the RN prevails whatever the employment setting or status of employment and that legal accountability cannot be removed or assumed by another individual or by the employer. We can never work alone, thus we are always a part of a multidisciplinary healthca re team and this is where the issues of delegation come into place. I. Definition of delegation and application in clinical setting The Queensland Nursing Council (2005) defined delegation as ‘conferring of authority on a person to a person to perform activities. In the same way, delegation is conferment of authority to an individual who is not authorized to perform a particular task autonomously but can do so under direct or indirect supervision (Nursing & Midwifery Board of South Australia 2005). Direct supervision means that the RN is actually present during performance of the delegated task, observing and guiding the person who is being supervised while indirect supervision is provided when the RN does not directly observe the person performing the delegated task but should be easily contactable by phone or electronic devices when the need arises [Royal College of Nurses, Australia (RCNA) 2005].

Business in Focus Essay Example | Topics and Well Written Essays - 3250 words

Business in Focus - Essay Example US Laws protect citizens against any misuse of tax records and information sharing if not having support proper authorization (Hatch n.d.). In spite of such provision of protection according to Gregory Shaffer (2000), personal information is traded and transferred about each U.S. citizen very frequently. There are privacy breaches ranging from very serious identity theft incidents to marketing solicitations. Data unlike a physical object can be sold and distributed with relative ease in today's electronic society. Medical and financial records could be used in hiring decisions. Social security numbers could be used in case of identity theft and financial fraud. One's address could be used to conduct a hate crime. Terrorists and anti-government groups can use government security information to attack nuclear plants and other government targets. The U.S. legislation on national scale is not comprehensive on privacy legislation. Their numerous privacy statutes protect personal privacy in a piecemeal fashion. The Privacy Act of 1974 gives individuals the right to access and correct information held by the federal government but did not cover private entities and state and local governments. The financial Modernisation Act also known as the Gramm-Leach-Bliley Act (GLB passed in November 2000 eased the state and federal restrictions among financial institutions in USA. The law allowed sharing of information, non-public for specific purpose and in specific situation. This raised the issue of privacy and it was demanded for notification to consumers about the institution's privacy policy and is given a chance to opt -out of information sharing with non-affiliated third parties. The survey confirmed about the widespread use of non-public information by joint marketers and affiliated institutions. Protection of non-public personal information (NPI) is must because it might lead to fraud by companies for unauthorised use. The following important legislation in USA on Consumer Privacy: 1. Fair Credit Reporting Act of 1970- in which credit agencies are required to make their records available, provides procedures for the correcting of information, and permits disclosure to authorized parties. 2. Cable Communications Policy Act of 1984- cable services are required to inform subscribers of the nature of personally identifiable information collected and the use of such information. The law restricts the collection and disclosure of such information by cable services. 3. Electronic Communication Privacy Act of 1986- The law extends Title III protections and requirements to new forms of voice, video data, and communications such as cellular phones, electronic mail, computer transmissions, and voice and display pagers. 4. Electronic Freedom of Information Act (1996) - The law allowed any person the right to obtain federal agency records unless the records are protected from disclosure by any of the nine exemptions contained in the law. 5. Health Insurance Portability and Accountability Act 1996- The law requires healthcare facilities to implement security policies and systems to protect patient confidentiality. HIPAA only covers the security of the information and does not address information sharing. 6. Children's Online Privacy Protection Act (1999)- The law prevents personal informat

Ethical Vignette Paper 1 Coursework Example | Topics and Well Written Essays - 750 words

Ethical Vignette Paper 1 - Coursework Example However, when a patient is involved in a court proceeding and the court requests for the information regarding the professional services that one received, such information would be disclosed without the consent of the patient or a court order. The disclosure limit would be subjected to a number of laws like the confidentiality, and privacy laws, conduct and ethical duties, but the legal obligations have the duty to warn following the care duty to others like in the case of negligence. The counselors should observe the professional and legal standards that are used in maintaining the privacy of the records, and the obligations of mandatory reporting. These mandatory obligations include reporting the neglect or abuse of children, or the adults that are vulnerable, the duty of protecting or warning the third party that is endangered by the patient, and the role of reporting the impairment or misconduct of a different professional. The disclosure of information occurs only with the required consent or sound ethical or legal justification. In the process of counseling, the clients are informed of the cases where their confidentiality needs to be breached. The confidentiality of a patient is breached when there is a foreseeable and serious harm to the patient or legal requirements. 2.3.4.1. Some exceptional cases may come up providing the counselor some grounds to believe that some harm could happen to the client or some other persons. In this case, the patient will consent to the alterations in the agreement regarding the confidentiality, which should be sought unless there are some grounds to believe that the patient is not able or willing to assume the responsibility of her actions 2.3.4.2. The disclosure of information needs to be constrained to the relevant information that is displayed to relevant persons for relevant reasons that

Human sexuality Essay Example for Free

Human sexuality Essay Incestuous inbreeding is the act of mating or having any sexual relations between two beings of close kinship. In people, this is prohibited by law to marry and engage in any sexual activity with any member of a person’s own family and with his/her relatives up to the second degree of consanguinity. Aside from it being a legal prohibition, it is also a considered a social taboo in most cultures. However, the considerations for incest are different depending on the beliefs and customs of these cultural groups. Some have more liberal qualifications for the situation to be called incest, and others are more conservative in the sense that people could not marry even those who are adopted into the family. Nevertheless, there are also some places wherein they permit this kind of familial setup to preserve their royal lineage. There are various kinds and forms of incest. The most common and considered a kind of abuse is the father-daughter incest and other forms of parental incest. However, there are also other forms such as sibling incest and other matches which usually come unreported. Although most cases of incest are born out of coercion, consensual incest also exists in some societies. The rationale behind the incest taboo must have stemmed from social group processes in ancient civilized and uncivilized societies. As studied by anthropologists, older cultures follow the rule of exogamy which enables families and groups to merge with others to form alliances. If incest was allowed, this rule would be violated. Religious groups and sects also have their various takes on this issue and most of them push that incest must not be tolerated and patronized. In modern societies, this legal prohibition now has scientific basis. It was found that since the two people involved in incestuous inbreeding have the same genetic makeup, their offspring would contract inherited congenital malformations. In the event that this becomes the result, future generations would be at risk of catching the same genetic defects. As a product of incestuous inbreeding, an offspring has a tendency to develop recessive disorders such as mental retardation, deaf-mutism, congenital ichthyosis, retinitis pigmentosa, adiposogenital syndrome, and homocystinuria. Previous studies show that more than half of the children born out of incest acquire some abnormality. The reason behind this is that there in an increase in homozygosity in the offspring’s genes, which means that there would be â€Å"the same allele at the same locus on both members of a chromosome pair† (â€Å"Incest,† n. d. ). In other words, if the parents of the child belong to the same family, there is a greater tendency for the child to get a defective gene from both parents. Because of this, it is assumed that there is a specific biological mechanism which prevents species from engaging in incestuous inbreeding. In detail, this mechanism could be more easily described in a comparison between incestuous inbreeding and mating between beings of different blood. Every human being carries some defective genes which are masked in a recessive expression. When two people belong in the same family, for example, as in the case of siblings, half of their genes are identical as they are from the same parents. This means that when they mate, there is a greater likelihood that the defective gene would be expressed in their offspring. However, for two people of no blood relation to each other, there isn’t any identical gene which means that it would be less likely for a genetic defect to be developed in their offspring. This biological constraint and medical risk is a consequence that incestuous inbreeding would bring. It would not only be harmful for the offspring because of the defects that would be acquired or a greater risk for mortality, nonetheless, it would also contribute to the deterioration of future generations. Finally, aside from these aforementioned medical considerations, it would also be appropriate to regard the psychological side effects as important in these situations. There are lots of cases which show that incest, especially those situations which could be considered as forms of abuse, result in psychological, mental, and emotional trauma. This probably might be because of the fact that it is established as a taboo and the behavior is a contradiction to that belief or attitude. Whatever the case may be, there would always be a negative outcome when two people engage in incestuous relations and inbreeding. References Children born as a result of incest. (1981). British Medical Journal Vol. 282. p. 250. Incest. (n. d. ) In Cambridge encyclopedia. Retrieved April 14, 2008, from http://encyclopedia. stateuniversity. com/pages/10516/incest. html The Columbia encyclopedia (10th ed. ). (2007). New York: Columbia University Press.

Trust in Emersons Self-Reliance :: Self Reliance Essays

Trust yourself, your intuition, and your nature. According to Emerson's Self-Reliance, these qualities are essential to contentment and harmony with one's self. Self-reliance is an appeal to the individual to obey his instincts and to challenge tradition and conventional wisdom. According to Emerson, those who are truly self-reliant have the ability to mark their place in history as great and genuinely creative men. Emerson urges the reader to live by his instinct and listen to his intuition, "Trust thyself: every heart vibrates to that iron string." Don’t fear your original thoughts, trust them and live accordingly. Great men and artists appeal to us because of their creative nature, "In every work of genius we recognize our own rejected thoughts." If we don’t live according to our nature we are not men. Be bold and brave about your convictions, "And we are now men, and must accept in the highest mind the same transcendent destiny; and not pinched into a corner, not cowards fleeing before a revolution, but redeemers and benefactors, pious aspirants to be noble clay plastic under the Almighty effort, let us advance and advance on Chaos and the Dark." Recognize your nature whether it be good or bad, "No law can be sacred to me but that of my nature." Emerson instructs the reader to avoid the common pitfalls that tend to hinder man's virtue. Emerson identifies consistency as being an enemy of the creative thinker, "A foolish consistency is the hobgoblin of little minds", "With consistency a great soul has simply nothing to do". Emerson isn’t implying that we live erratically but that we should be introspective about our positions and ideals. We should not hold the same position simply because it is the one we have always taken. We shouldn’t be preoccupied with the impression we leave on others, "What I must do, is all that concerns me, not what the people think." According to Emerson, our inconsistency should be our testimony. Your inconsistent actions will explain to others what you are, "The voyage of the best ship is a zigzag line of a hundred tacks." Emerson also points out man's fear of being misunderstood. We often fail to present or discuss our original thoughts and ideas in fear of being misunderstood. Emerson asks, so what? Weren't all great innovators misunderstood? Emerson says: "Misunderstood! It is a right fools word. Is it so bad then to be misunderstood?

Marvel Case

MARVEL ENTERTAINMENT GROUP Bankruptcy and restructuring Introduction Marvel entertainment group was started by Martin Goodman in 1939. It originally was a comic book business, known as Marvel Comics now. We have no way to forget the images of X-men, Spider-Man, and Thor. Marvel Entertainment Group has had a glorious history, and a dominant position in the comic market. However, this glorious empire regretfully elapsed in the end. The historical rise and fall influences not only comic fans’ life, but most importantly to its investors and the financial market.Here we discuss in detail about the reason Marvel file for bankruptcy, the evaluation of the restructuring plan, equity worth per share under restructuring plan, its influence on the debt rising ability to other firms in the group, and why the portfolio managers choose to sell their zero coupon bonds. Part 1 Analyzing problems: why did Marvel file for Chapter 11? Were the problems caused by bad luck, bad strategy, or bad ex ecution? After taking a deep look into its performance of a six-year period, we reached the conclusion that the fall of this comic star is mainly caused by bad strategy it adopted, especially the one to acquire Skybox.Though the first two issuance of debt did bring along good operating results, Marvel’s core business began to falter shortly after the third issuance. The sales of three major business lines: Sports and Entertainment Cards, Children’s Activity Stickers, and Published comic books all decline significantly after 1993. The main reason for this decline can be explained by the fact that child entertainment is becoming more diversified, with alternatives appearing such as video games. Besides that, collectors’ declining willingness to invest in comic books drive the sales down dramatically.However, these reasons have little things to do with luck: because a successful and experienced entertainment company like Marvel should have the ability to notice thi s kind of demand change. What is more, sufficient market research should also be done when deciding long-term business strategies. But the creator of Spider man really disappointed us by heading for a totally wrong direction at the turning point of this industry. To be qualified as a bad strategy adopter, Marvel decided to acquire Skybox in 1995. At that time, Marvel has a leverage ratio as high as 52%, which made it hard to pay back the huge debt when revenues are declining.Moreover, the declining demand for entertainment cards will make this expansion unlikely to boost its revenues. We can see more clearly from its operating and financing ratios that this acquisition resulted in worse performance of the whole Marvel group. Marvel’s operating and leverage ratios 1991 Operating Ratios Sales Cost of Sales Cost of Sales/Sales SG&A SG&A/Sales Net Income Net Income/Sales Leverage Ratios Total Debt Shares Outstanding Share Price Market Value of Equity Debt/D+E EBITDA EBITDA/Sales Interest Expenses EBITDA/Interest $115. 10 58. 50. 57% 21. 4 18. 59% 16. 1 13. 99% 1992 $223. 80 112. 6 50. 31% 43. 4 19. 39% 32. 6 14. 57% 355. 3 98. 6 12 1183. 2 23. 09% 67. 8 30. 29% 6. 5 10. 43 1993 $415. 20 215. 3 51. 86% 85. 3 20. 54% 56 13. 49% 324. 7 102. 6 26 2667. 6 10. 85% 114. 6 27. 60% 14. 6 7. 85 1994 $514. 80 275. 3 53. 48% 119. 7 23. 25% 61. 8 12. 00% 585. 7 103. 7 16 1659. 2 26. 09% 119. 8 23. 27% 16. 5 7. 26 1995 $829. 30 538. 3 64. 91% 231. 3 27. 89% -48. 4 -5. 83% 934. 8 101. 3 12 1215. 6 43. 47% 34. 7 4. 18% 43. 2 0. 80 1996 $581. 20 372. 4 64. 07% 168 28. 90% -27. 9 -4. 0% 977 101. 8 4 407. 2 70. 58% 40. 8 7. 02% 42. 7 0. 96 97. 7 5 488. 5 35. 5 30. 84% 3. 5 10. 14 As we can see from the number facts above, both operating and leverage ratios show that bad performance of the company became even worse after the acquisition. On one hand, during this six-year period, Marvel’s operating ratios decreased greatly: Net Income/ Sales dropped from 13. 99% of 1991 to -4. 80% of 1996. Besides, the cost of Sales/Sales rose significantly from 50. 57% to 64. 07%. At the same time, SG&A/Sales also increased from 18. 6% to 28. 9%.On the other hand, the leverage ratios also showed that the leverage is already quite high before it made the acquisition decision. During the period from 1991 to 1995, the operating results were not satisfying and leverage coverage kept falling. Based on this situation, Marvel’s decision makers still expanded further, resulting in a worse situation: after the acquisition, its interest coverage ratio dropped rapidly to only 0. 96; the EBITDA/Sales ratio also declined to 7. 02%. Therefore, we can see clearly that the bad strategy Marvel adopted is the main reason for its bankruptcy.When facing with both an internal problem—financial distress, and external threats—declining demand for cards, Marvel should absolutely seek growth within existing business rather than impudently expand through acquiring Skyb ox. Part 2 Evaluation of the proposed restructuring plan: will it solve the problems that caused Marvel to file Chapter 11? As Carl Icahn, the largest unsecured debt holder, would you vote for the proposed restructuring plan? Why or why not? In early 1996, Perelman announced a restructuring plan in order to bail out.According to the plan, $365 million would be invested in Marvel in exchange for 427 million new Marvel shares to maintain the 80% ownership; Marvel would acquire Toy Biz, using its revenue to serve Marvel’s debt and offset Marvel’s NOLs; debt with a face value of $894. 1 million would shift into equity. In our perspective, this new plan can only solve part of Marvel’s recent problems, while it would be helpless to completely help the company out. The proposed restructuring plan is supposed both to relief Marvel’s debt burden and to increase the liquidity. To achieve this goal, Marvel planned to increase equity investment, and retire 894. milli on of debt, whose interest would be secured by 77. 3 million of Marvel’s shares. In these cases, Marvel would acquire new financing support without giving away part of its ownership, which is vital for the tax and NOLs purpose of the company. Besides, the leverage ratio would decrease sharply as a large proportion of debt would turn into equity, given that the market price of stock would not decline significantly. As a result, the plan could solve the liquidity problem of Marvel, as well as solve the problem that led Marvel to violate specific bank loan covenants.However, the company misemployed the newly acquired liquidity in the wrong place. Rather than transforming its original business strategy, which is problematic, into newly emerging industries such as video games to increase revenue, Marvel would maintain its original business lines, majority of which face downturns in the market. At the meantime, Marvel would continue to expand its current business by acquiring remai ning shares of Toy Biz. As what was mentioned previous in this report, the main reason why Marvel filed Chapter 11 was that it mistakenly bought business that produces non-demanded products.S&P downgraded the company’s debt by noting that Marvel’s earnings â€Å"have fallen while it has added debt to make acquisitions†. To acquire Toy Biz, an estimated $361. 5 million would be paid in cash by Marvel. Though Marvel believed that the acquisition would help generate sustainable cash flow to the company, we consider the revenue of Toy Biz, a company which is closely related to Marvel’s current business lines, is far from guaranteed as a foreseeable downturn in traditional entertainment industry. It means that the relieved debt burden could be ultimately offset by the prudent acquisition.Marvel would be inevitable in crisis. Furthermore, the debt holders, debt of whom would be transformed into equity, would not be fully paid off. After the restructuring plan w as announced, the stock price of Marvel plummeted. From what was shown in Exhibit 3, Marvel’s stock price continued to decline afterwards. Under the downward pressure of share price, the value of the collateral shares for the bonds are now much lower than it used to be at the time of the bonds being issued. In other words, the new shares could now only cover partially the face value of original bonds.For Carl Icahn, the largest unsecured debt holder who would have to invest in the highly discounted share once the restructuring plan is passed, whether or not its investment could be paid back would be doubtful. Though Bear Stearns, a company who prepared financial projections for Marvel’s acquisition of Toy Biz, predicted modest growth for Marvel and significant growth for Toy Biz, and that Marvel was valued more as a going concern, the argument of Bear Stearns is questionable and hard to be guaranteed. Therefore, as Carl Icahn, we would not vote for he proposed restruct uring plan. Part 3 Evaluation of Marvel’s equity: how much is Marvel’s equity worth per share under the proposed restructuring plan assuming it acquires Toy Biz as planned? What is your assessment of the pro forma financial projections and liquidation assumptions? We proceed to estimate equity worth per share by employing the capital cash flow method. Capital cash flow valuation incorporates mainly two approaches: starting with NI or starting with EBIT. Concerning the difficulty of reaching for such items as EBIT, we prefer the NI method particularly.Then the whole valuation process could be divided into two parts: calculation of PV (CCF) and number of shares. Part 1: PV (CCF) How to determine the discount rate is crucial for PV (equity value). This valuation uses data from Exhibit 10. Marvel entertainment group asset beta Risk-free rate Risk premium Pre-tax WACC Note: Pre-tax WACC = Rf + ? a * risk premium We use the five-year yields on US treasury bills, notes, and b onds for correspondence with our estimation time range starting from 1997 and ending in 2001. It gives us the pretax WACC as 11. 35%, used as our discount rate in the case. Then we proceed to the next section of CCF, based on information on Exhibit 9. Table 3. 1 has all the calculations shown in explicit steps with our desired result as equity value = 435. 99. Part 2: number of shares outstanding Up till now, equity value per share is only one step away with the missing number of shares, which is presented directly underneath Exhibit 6, as 528. 8 Therefore, we can come straightforward to the final calculation as: Equity value per share = 435. 99/528. 8 = 0. 2 What makes this case special is that distressed M&A could offer substantial corporate strategy opportunities in the troubled economic times ahead, while at the same time, the value of such opportunities could often be hidden amidst the confusion and distress of bankruptcy, such as the one listed as follows. Liquidation value is presented in table 3. 2. 0. 65 6. 36% 7. 5% 11. 235% Part 4 Will it be difficult for Marvel or other companies in the MacAndrews and Forbes holding company to issue debt in the future? Yes. It will become much harder for other companies in the MacAndrews and Forbes holding company o issue debt in the future, under the influence of Marvel’s bankruptcy. In 1995, S&P and Moody’s downgraded the holding companies’ debt from B to B-. Again, in 1996, Moody’s downgraded Marvel’s public debt once more. After the huge volume debt of Marvel downgraded by two rating agencies, Marvel had announced that it would violate specific bank loan covenants due to decreasing revenues and profits. Because downgrading of debt increases the chance of default, and the default probability would surely bring difficulties to other companies in the MacAndrews and Forbes holding company to issue new debt.This would happen step by step. First, the low credit rating indicates a hi gh risk of defaulting on a loan and, hence leads to high interest rates or the refusal of a loan by the creditor. Then, Investors realize this risk and therefore would require a higher default premium to compensate the risk. After that, increased default premiums would raise the cost of capital for the holding company. Given the increased risk premium and default possibilities, Marvel and other companies in the MacAndrews and Forbes holding group would having more difficulties issuing new debt in the future.Some difficulties would be generated from Perelman, because debt holders and creditors where raising questions about the integrity on the judgment decisions from Perelman. Judge Balick approved Marvel did not discriminate unfairly against non-affecting creditor classes and provided it was fair and equitable to all classes. In reaction, a lawyer challenged the Bearn Stern’s conclusions and insinuated Bearn Sterns had multiple levels of conflicts due to the contingency fee p rovided by Perelman. In the end even the Vice-Chairman of the Andrew group had to come with a statement to overcome all the negative sounds in the market.Anyhow it looks like Perelman’s reputation was damaged already. Also, this would influence the whole company’s reputation and the credibility of issuing new debt. Part 5 Why did the price of Marvel’s zero-coupon bonds drop on Tuesday, November 12, 1996? Why did portfolio managers at Fidelity and Putnam sell their bonds on Friday, November 8, 1996? On Nov 12, 1996, Marvel’s zero-coupon bonds fell by more than 50% when the spokesman for the Andrews Group announced the details of the proposed restructuring plan. According to he announcement, Perelman was to purchase, through Perelman-related entities, 410 million shares of newly-issued Marvel common for $0. 85 per share, 81% discount to the then prevailing market price of $4. 625. After Marvel met the managers of Fidelity and Putnam, those two institutional investors sold their Marvel bonds on hand immediately in response of the meeting before the announcement of the restructuring plan. Public holders predict Fidelity and Putnam should have the insider information about the restructuring plan.Their action made the public holder feels the restructuring plan is not favor to the bond holder and therefore sold it to avoid a greater loss. Apart from that, Marvel’s zero-coupon bonds were secured by its equity, rather than the company’s assets or operating cash flows. Due to the problem Marvel suffered, their share price dropped. Once the stock price dropped below $11. 6 per share, the collateral would not be sufficient to cover the debts. The public debt holders might consider that these bonds were no longer worthy to be held to maturity while the credit risk soared. Therefore they sold the bonds in arge quantity under the deteriorated signals in the market. As a result, the bond price plunged. Due to the restructuring plan, t he prices of Marvel’s shares and bonds dropped 41% and 50% respectively. On Nov 8, 1996, Howard Gittis, vice chairman of Andrews Group, called Fidelity Investments and Putnam Investments, two of the largest institutional holders of Marvel’s public debt, and asked them what they would like to see in are structuring plan. Portfolio managers at Fidelity and Putnam decided to sell more that $70 million of Marvel bonds at a price of $0. 37 per dollar of face value on the next day.Perhaps, during this conversation, they got some detail information of the plan which proved the present value of Marvel’s bonds was overvalued. It gave the chance for them to avoid tens huge losses in diminished value that would have followed and suffer the time they continued to hold the bonds already existing facts were revealed. To explain the portfolio managers at Fidelity and Putnam sell their bonds on Friday, November 8, 1996, we can compare the value of the bond value at the market a nd the expected equity value belong to the public holders after restructuring, Bond value on November 8, 1996, Face value of $894mn X 0. 37per dollar of face value = $ 330mn Equity value belong to the public holders after restructuring, $ 77mn shares X $0. 49 (our projected equity worth per share) = $ 38mn We found that the market value of the Marvel bond is far higher than the value of the future equity worth belongs to the bondholders. So, the bond selling price of Fidelity and Putnam is relatively much attractive rather than the converted equity value after the restructuring plan. ConclusionIn the above analysis, we reached at the conclusion that Marvel’s bankruptcy mainly resulted from its bad strategy and management problems. First, it chose to expand in a wrong time and to a wrong direction. Second, its restructuring decision can only solve its liquidity problem temporarily, and Carl Icahn should veto the restructuring plan. Third, Marvel Entertainment Group in this cas e will have bad influence on other companies and make it hard for them to issue new debt in the future. We also use the capital cash flow method to calculate the equity worth under the restructuring plan.Generally speaking, it does sound that attractive and only resulted in investors’ chagrin. Table 3. 1 (millions) Net (loss) income + depreciation or amortization – change in working capital – capital expenditure + amortization of goodwill – equity in net (loss) income in unconsolidated subsidiaries + minority interest in Toy Biz + provision for deferred taxes +Interest Capital cash flow Growth rate of each year Geometric growth rate Discount rate Present value of CCF Sum of Present value Debt value of Sept. 996 Equity value ? ? ? Terminal cash flow = CCF2001 * (1+g)/(r-g) We use geometric average here because of the rule of thumb: the more volatile the return stream, the more important it uses geometric average Because the market value and book value of d ebt are nearly the same, we directly subtract the debt value from Sum of PV (CCF) to get the final equity value. -7. 12% 11. 235% 248. 21 1412. 99 977. 0 435. 99 192. 3 91. 04 162. 12 118. 67 600. 52 1997 (35. 7) 34. 5 75. 4 83. 0 30. 5 0. 1 3. 0 9. 8 71. 0 271. 6 1998 17. 5 43. 4 11. 5 67. 4 21. 8 0. 2 -8. 3 68. 0 238. 1 (12. 33%) 1999 (12. 1) 44. 1 (44. 3) 47. 4 21. 5 (2. 2) -6. 3 64. 6 125. 3 (47. 38%) 2000 27. 6 44. 8 42. 0 46. 7 21. 2 (3. 2) -8. 1 61. 0 248. 2 98. 08% 2001 33. 6 45. 9 (2. 0) 45. 1 21. 5 (4. 4) -5. 8 56. 6 202. 1 (18. 57%) 1022. 67 Terminal CF 1022. 67 Table 3. Liquidation value Cash Accounts receivable Inventory Deferred income tax Income tax receivable Prepaid expenses and other current assets Current assets PP&E (net) Goodwill and other intangibles (net) Investment in subsidiaries Deferred charges and other assets Total assets Accounts payable Accrued expenses and other current liabilities Short-term borrowings Current portion of long-term debt Current liabil ities Long-term debt Other long-term liabilities Total liabilities Minority interest in Toy Biz Liquidation value Sep-96 35. 9 257. 2 99. 1 32. 5 18. 2 58. 2 501. 1 87. 7 595. 3. 2 72. 7 1260. 4 95. 8 170. 1 28. 7 625. 8 920. 4 0 56. 6 977. 0 102. 9 180. 5 Millions adjustment % 100 85 50 0 100 0 value 35. 9 218. 6 49. 6 0 18. 2 0 322. 3 Note s 1L 2L 3L 4L 50 50 0 0 43. 9 297. 9 0 0 664. 0 5L 6L 7L 7L 90 90 0 0 86. 2 153. 1 0 0 239. 3 8L 8L 9L 9L 0 0 0 0 239. 3 9L 10L 0 0 424. 7 11L 12L Note: all adjustments are based on our group’s estimations, prepared from the 1996 standpoint. ? The second entry accounts receivable is adjusted downward to 85%, based on the â€Å"rule of thumb† of liquidation situations, note (2L), (5L), and (8L) are done likewise.To make it more precise, expert appraisers are needed for specific consultation. ? Notes (3L), (4L), (7L), (9L), (10L) and (11L) identify the items written down to zero if liquidized. ? Note (6L) were written down to 50% bec ause of the perceived value of Marvel’s character portfolio (Spiderman and X-man did enable them steal the thunder), while we still need someone expertise for more accurate estimation. ? Lastly, subtracting liabilities from assets in Table 3. 2 gives us the liquidation valuation of $424. 7 million

Learning Theories and Instructional Design Essay

This article discusses the principles of adult learning theory. More specifically, Kimbarow relates adult learning theory to effective methodologies that can be employed in treating patients with aphasia. For Kimbarow, the major principles of adult learning theory are the ability to recognize that adults are self-directed individuals and that it is essential for instruction to be prepared such that it is culturally and socially sensitive in meeting the needs of the learner. Kimbarow also discusses the life participation approach, or LPAA. The life participation approach emphasizes the role of the patients’ overall quality of life in the care that the patient receives. This complements the adult learning theory as it further emphasizes the impact that patient involvement has in the treatment and planning of activity programs. The study offered these recommendations: A patient will have a better quality of life if the patient plays an active role in the planning of their course of treatment and if the instruction meets their cultural and social needs. By recognizing and planning instruction in this manner, the instructor will be successful in preparing activities that meet the needs of the adult patient. Review: This is an interesting and current article for those who want to explore the premise of adult learning theory. However, the article is limiting in its discussion of adult learning theory as it relates only to aphasia patients. The article would be more effective if it contained further discussion into the effectiveness of adult learning theory to patients or students with other conditions or in other learning environments. Lee, D. , Belifore, P. , Budin, S. (2008). Riding the Wave. Teaching Exceptional Children, 40(3), 65-70. Summary: In their article, Lee, Belifore and Budin discuss the importance of differentiating instruction to meet the needs of all students in the classroom begins with the planning process. The authors’ recognized that different teachers plan and deliver lesson plans in different ways. However, they recognize that the types of lesson plans utilized and implemented by classroom teachers can impact the way that the information in the lesson is disseminated to the students. The study offered these recommendations: According to the authors’, reducing student punishment should result in an increase in student accountability and responsibility. â€Å"High probability request sequences are positive interventions improve student compliance through increased student workload and the removal of negative consequences: (Lee, Belifore and Budin, 2008). It also creates an environment of problem solving, whereas students are accountable for their work no matter what. In doing this, the punishment for not turning in work does not result in a failed grade. Review: The article is an important tool for those individuals seeking an interesting perspective in the need for differentiating instruction. At the same time, the article offers an innovative perspective on the role of consequences in the education system. The recommendations made by the authors’ are best suited for the traditional classroom setting. Felder, R. M. , & Brent, R. (2005). Understanding student differences. Journal of Engineering Education, 94(1), 57-72 Summary: In their article, Felder and Brent discuss the different learning styles that must be taken into consideration in the development of course curriculum and evaluation methods. As the authors’ describe, these various methods are used to assess student understanding of subject material. Felder and Brent point out that students in the classroom setting tend to be very diverse in culture and have different levels of motivation to learn. The study offered these recommendations: Because students have different attitudes towards their instructor as well as other students, instruction must be designed to respond to the different â€Å"attitudes about teaching and learning, and different response to specific classroom environments and instructional practices† (Felder & Brent, 2005). Due to this, the instructor should understand learning differences to facilitate, structure, and validate successful learning. Review: The study offers an important perspective as to the diverse needs of individuals in the classroom setting. The study would be more effective if it made specific recommendations as to instructional design modifications that can be used to reach out to students in the learning environment. The article encourages further reading and investigation into the subject that can only better the instructor in planning instructor to meet the needs of students.

Admissions Essay -Homeland Security

Self Assesment/Admissions Essay -Homeland Security Free Online Research Papers I have always been intrigued by studying different topics related to Law Enforcement, specifically in the area of Homeland Security. I have taken many courses over the past 19 years relating to or touching the surface on issues surrounding 911 and Homeland Security. I find myself wanting to look deeper into these issues. I am seeking admissions into this program for the following reasons. I want to learn in depth about the issues we have faced as a nation, and the issues we will be faced with in the future regarding Homeland Security. I have been waiting on the right time in my life to start my Master’s Program, and it is finally the right time. I am looking forward to the challenges of research. I would like to continue to advance myself and my career, and a Master’s Degree will assist my endeavor. I am committed to my family, and setting examples for my children to follow. I always push my children to do more, and this is another way to show them there are no limits if you’re willing to give 100%. My background in Law Enforcement will make the transition into this program very smooth for me. I decided to go back to College in 1993 to finish my Bachelors Degree. I finished my degree from Saint Leo University in 1995, graduating with honors (CUM LAUDE). I have taken many courses dealing directly with Homeland Security, and Weapons of Mass Destruction (WMD). I am incident Command Certified (ICS), and have taken numerous courses relating to ICS structure. I personally have handled large scale events relating to disasters and security. I have been responsible for several successful presidential escorts. I feel my future contributions relating to Homeland Security center around drug trafficking efforts and training of our Law Enforcement members. I feel many parallels exist between drug trafficking activity and terrorism. Why have we not closed off our borders to drug smuggling? What implications might this have for terrorists or others who may wish to import a Weapon of Mass Destruction (WMD) into our country? Has there been a large scale impact on home-grown/manufactured drugs? While there is sure to be debate regarding the answers to these questions, most can agree that drugs remain abundantly available and an important reason our jails are overcrowded. Criminals respond to technology by using any means at their disposal, ranging from low tech mules which sacrifice one, knowing that 9 others will get through. Drug cartels have penetrated foreign governments and corrupted officials worldwide, well-financed terrorists have done the same. It would be naive to think that officials or lower level government personnel in Colombia, Afghanistan, Mexico, and a dozen other countries that may be corrupt, only sell advance information about government operations against drug cartel activity while not selling information about operations against terrorist groups. Policies are bound to fail if they ignore important social forces. Important lessons for the counter-terrorism community may lie in the Governments response to the drug trade and the way the government is organizationally structured to respond to the activities of drug trafficking organizations. Law Enforcement training must include better command, control, and coordination of policy and its funding and implementation (overall program responsibility). The enhanced effectiveness will not come from organizational structure alone. Law Enforcement training must be sensitive to ever-changing social, religious, and political phenomena spanning the globe; must be proactive, not reactive; and must keep abreast of evolving or revolutionary new technologies. One of the main challenges today for Law Enforcement is finding a way to eliminate the illegal activity for terrorist groups. If you can eliminate the illegal activity, you will impact the funding source for these various groups. Illegal drug money funds terrorist organizations and activities. The terrorists point to our willingness to consume these drugs as direct evidence of our society’s moral degeneracy. Law Enforcement needs to be vigilant in its efforts to thwart drug trafficking in the United States. Having a better understanding of Homeland Security and the challenges we face as a nation, will enable me to better understand what lies ahead. The area I am currently responsible for is considered a rural area. I have worked in metropolitan areas in the past, and they pose different challenges than my current assignment. In a rural area there is more opportunity for terrorists to blend into the community. Additionally, there are more opportunities for large scale organizations to set up and run a grow house or lab that would be difficult to detect. I am utilizing aircraft operations to combat some of these issues, as well as focusing on neighborhood watch groups to report suspicious activity. These basic and simple techniques have proven to be successful in combating these types of behavior within our community. The area I currently work in did not have a large scale multi-jurisdictional co-op plan in place prior to 2005. I was instrumental in implementing and writing this plan for the tri-county area. We have a working plan to deal with terrorist threats, natural or manmade disasters, and large scale mobilizations. In Ma y 2001, we experienced a long draught within Dade County. A large scale fire developed, and we had to execute our co-op plan. The 17 day fire detail worked flawlessly. In August 2002 we experienced a tornado in Dade County. Again, we utilized our plan and our efforts proved to be successful. Whether it is a large scale disaster or terrorist threat, I am confident in my ability as a Law Enforcement manager to oversee and collaborate with any agency to make the detail a success. This program will provide me with the resources I need to better understand Homeland Security. I plan to utilize this knowledge to share the information learned with those I command. In conclusion, I would like to thank those on the selection committee for allowing me the opportunity to apply for this program. I look forward to the learning and growing opportunity that this program will offer. Research Papers on Self Assesment/Admissions Essay -Homeland SecurityThe Effects of Illegal ImmigrationThe Relationship Between Delinquency and Drug UseNever Been Kicked Out of a Place This NiceOpen Architechture a white paperInfluences of Socio-Economic Status of Married MalesRelationship between Media Coverage and Social andStandardized TestingIncorporating Risk and Uncertainty Factor in CapitalGenetic EngineeringAppeasement Policy Towards the Outbreak of World War 2

Marketing plan continued 3 Essay Example | Topics and Well Written Essays - 750 words

Marketing plan continued 3 - Essay Example This could include adding insurance services and even expanding overseas. The key success factors focuses on services and SISCO has to develop differentiation by offering tailor-made products. Customer retention in the highly volatile market is essential and SISCO should devise packages to retain the customer base. SISCO needs to be cognizant of the fact that at any point of time, should the oil prices crash, the market for all its products could come down drastically. The company has to be prepared for this contingency while devising their ambitious plans. During their operation in the financial and mortgage industry, SISCO has developed its own customer base, thus cultivating its own niche market. An aggressive marketing will however lead to a growth of its customer base, thus making its presence widely known in Jeddah. SISCO’s core business shall be the supply of financial services to both individuals and business owners, who have interests in the mortgage and property development industry. Following a study of the target market, the information acquired will hence help the company to better serve the needs of the customers. Jeddah, the geographic target is situated near the red sea. The total targeted population is a little over 3 million â€Å" A year on year increase of 4.48% (the population growth during this time was 2.83%).†(ameininfo) The kingdom is witnessing a change in demographics of home development. Previously, individuals build at least 98 percent of the homes, whereas developers only handled the remaining 2 percent. The trend is however rapidly changing owing to a drastic rise in both the building materials, and a corresponding increase in development cost. â€Å"Suggesting an increase in nuclear families. Thus, demands for all kinds of household goods - white goods, automobiles, bank loans, furniture - will increase.†.(ameininfo) There is a dire need to supply

To make a lasting contribution in the media field Essay

To make a lasting contribution in the media field - Essay Example This shortage affects Middle East itself and affects the other nations who are involved in the region. The shortage of mentors and researchers will hinder the media aspirants to pursue the study. I planned to be skilled in Middle East media issues for such expertise is in urgent need. I foresee myself doing further researches, teaching and consulting work related to the media field. By pursuing PHD, I can now help my country by mentoring those who have great interest in the field of media and journalism and I am sure that your university will be the best place to help me achieve my goals. In my application for this studentship, I wanted to focus on "News Media and the Dynamics of Terrorism". I am confident that my academic background and job experiences are few of the many factors which will help me succeed in doing this research. First of all, I have the appropriate academic background and professional experience in the news editing, writing and analyzing. I have a 5 year experience in a newspaper and magazine company. I have also taken up master's education focusing in Media Production which is a scholarship granted to me by British Council. The background of my education alone gives me enough competence to deal with the researched subject which is to analyze and understand the audience reaction towards the "influence of news coverage to the general publics understanding of terrorism". Beside that, being a journalist from Middle East gives me a significant knowledge about the cultural dimension of the subject in which the research questions will be answer in full understanding of all related factors to the subject. My experience as an editor of the international and local news at the first page gives me an opportunity to learn more and do investigative reports on different topics Being born and raised in Arabic and Islamic country will help me in researching the "news coverage's influence on attitudes towards terrorism among subcultures understanding." Being a native in Arabic language, I can communicate to these communities effectively which is mainly Islamic "Pakistani" and Arabic communities residing in UK and consequently, I will be able to formulate a better solution to integrate them in the society. Methodology Along with consulting and direction from the project supervisor and after doing a deep theoretical research on the project, I plan to answer the project questions by using more than one research techniques. This research should be conducted in different stages and rolling the ball will motivate and extract publics' opinion toward the issue related to the subject. Surveys, questionnaires and interviews will be conducted to know the audience reaction and attitude toward the news coverage related to the terrorism news. These Surveys, questionnaires and interviews will encompass samples of the public audience and subculture sympathizers' audience. Random survey results will be representing the point of views of different types of correspondents. Interviews to media personalities like editors, producers and anybody related to media and communication industry will also be first-hand providers of information about many factors related to the