FINANCIAL STRATEGIES AND THEIR IMPACT ON PERFORMANCE ON COMPANIES - Free Essay Example

Sample details Pages: 3 Words: 1039 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? LOLC which was incorporated in 1980 commenced its operations by providing leasing facilities for vehicles, machineries and etc. Today it has grown to a well diversified group and has invested in wide array of segments in financial sector and also has entered other growth potential sectors namely leisure, IT, renewable energy, fleet management, plantations and construction. Chevron carries on business of blending, importing, distributing and marketing of lubricant oils and greases and had a monopoly in the local lubricant market from 1994 to 1999 and now facing the competition primarily from Lanka Indian Oil Corporation (LIOC) and another four players, as the lubricant market opened up. Don’t waste time! Our writers will create an original "FINANCIAL STRATEGIES AND THEIR IMPACT ON PERFORMANCE ON COMPANIES" essay for you Create order The financial strategies followed by LOLC and Chevron over the years and their impacts on performance are mainly discussed under raising of funds (financing) and management of those funds (investing including distribution to shareholders) with main objective of increasing shareholders wealth while satisfying other stakeholders expectations. Then the impact of financial strategies on performance of these two entities is discussed to form a point of view on the effectiveness of said strategies. Being in the financial services sector LOLC is highly geared and financing is mainly generated from savings and deposits. Further, LOLC has advantage of financial backing by 20 international funding organizations. The gearing ratio as at 31 March 2010 was xx%. In contrast to LOLC, Chevron is fully equity funded. The main objective of financing is to use the optimum mix (financial leverage) of equity and debt (getting relatively cheap debt as well as resulting tax benefits on interest) thereby to minimize the cost of capital while minimizing the financial distress cost. Accordingly, LOLC has been able to reduce its cost of capital to 12.37% as at 31st March 2010 from 20.24% in 2009. The cost of equity of Chevron as of 31 December 2009 was around xx% (based on CAPM model and using Chevron beta of xx). Chevron is subject to tax at 35% and if it had used debt (say 30%) the cost of capital would have been reduced to xx% taking debt interest rate of 10% to 11%. It is worthwhile to note that Chevron has been profitable throughout and with its Group strength it is better placed to negotiate terms on debt. LOLC has been following residual dividend policy as its main focus is on growth. Accordingly, average dividend ratio for last 10 years was xx%. However, in last 10 years Chevron has mainly concentrated on its core business with no substantial investments and hence entire earnings had been distributed as dividends (in fact dividend per share was higher than earnings per share except in the years 2000 to 2002). Chevron policy of paying 100% of earnings as dividends in the absence of other reinvestment opportunities is commendable as it provides opportunity for shareholders to go for alternative investments. In assessing the performance of the financial strategies I have mainly focused on Economic Value Added (EVA) and Total Shareholders Return (TSR). As far as the LOLC is concerned the EVA per share for year 2010 taking into consideration the cost of capital and ROI (XX%) were LKR XXXX and for Chevron (ROI of xx%) EVA was LKR XXXX. The total average TSR for both companies for the period from year 2001 to 2010 (LOLC) and 2000 to 2009 (Chevron) were xx% and xx% respectively (comprising of dividend yield of xx% and xx% and capital gain yield of xx% and xx% for LOLC and for Chevron respectively). Therefore both companies have managed to add value to shareholders wealth due to profitability levels maintained coupled with sound focus on other financial parameters. This is evident from the market appreciation of share prices whereby the share price of LOLC which stood at LKR XX at end of 2001 increased to LKR XXX by end of September 2010 (a total increase of xx%) and the corresponding prices f or Chevron were LKR 50 and LKR 141.75 (a total increase of xx%) respectively. In addition to EVA and TSR, the measures such as ROE, Gross Margin, Operating Profit Margin and Net profit margin (NP) have improved. As an example LOLC NP for 2010 was 16.7% and it is an increase of 118% over 2009 and in the case of Chevron NP was 17.2% and shows an increase of 62% against 2008 In terms of cash flow management LOLC based on the maturity analysis the assets and liabilities as of 31 March 2010 which will get matured within a year were LKR XXX and LKR XXX respectively. The Non Performing Loan (NPL) ratio of LOLC is around 5.5% against industry average of 8% and records the lowest among the key players. This has been achieved due to the strong controls over the recoveries implemented. Chevron current ratio was 2.16:1 against 3.03:1 in year 2008. Further, quick ratio was 1.32:1 against 1.19:1. Chevron still has opportunity for further improvement as both current and quick ratios were slightly higher. The inventory residence period for 2009 and 2008 were 93 and 91 days respectively while the debtors residence periods were 32 and 31 days respectively. Therefore Chevron should act to reduce inventories given the same for LIOC stood at xx days by end 2009. In terms of cash flows generated LOLC generated positive cash flows in 2010 but it had a negative cash flow in 2009. However, Chevron has been generating positive cash flows throughout. : Conclusion The above brief study indicates that both LOLC and Chevron have been profitable and have been adding value to shareholders. But the corporate and financial strategies followed are different in terms of strategic focus, financing, investing and distribution policies. LOLC has focused on growth and has diversified (related and conglomerate) rapidly. However, given high gearing and also the fact that its primary expertise lies in the financial services sector, LOLC has to manage investments to ensure that the returns earned are above its required rate of return as any failure may wipe out shareholders equity resulting in a severe financial distress. This is the situation faced by financial institutions due to recent global financial crisis namely AIG, Lehman Brothers and etc. The situation with Chevron is different as it has primarily focused on its core business function to position in that segment over the years. However, it has to consider the financing mix to reduce the cost of capital if it intends to invest in other sectors as the present cost of capital (based 100% equity financed) may not provide the right yard stick to select among projects and would result in rejection of positive NPV projects.

The Nine By Jeffrey Toobin - 916 Words

In Jeffrey Toobin’s novel, The Nine, he promises in his subtitle to delve â€Å"Inside the Secret World of the Supreme Court.† And throughout his 340 page novel, Toobin accurately accomplishes this promise. To Toobin, the secret world of the Supreme Court focuses around the areas of the Court that are not often seen by the public eye, the information that often goes unnoticed or overlooked. To accomplish this goal of expanding the common man’s knowledge of the Supreme Court, Toobin not only narrates in detail the proceedings and cases of the court, but he also expands upon the complexities of the court as he describes the major themes, relationships, and intertwined connections that occur throughout the history of the Supreme Court. Furthermore, many of these major themes and relationships focus around main ideas and specific aspects of the court. In order to further illustrate the Supreme Court’s relationship and complexities, Jeffrey Toobin details the w ay the Court is shaped by the outside factors, the evolution of values, recurrent cases and constitutional requirements, and even misconceptions. Throughout The Nine, Toobin illustrates the fact that many of the Supreme Court cases are not necessarily determined on a case by case basis or simply by the hearings occurring inside the courtroom. In fact, many of the cases and decisions of the court are affected and shaped by outside forces, both internally in the nation and externally in the world. For example, during the case ofShow MoreRelatedHistory And Personality Of The Supreme Court1155 Words   |  5 PagesAccording to Toobin, the history and personality of the Supreme Court has also been affected by continual topics in recurrent cases as well as recurring constitutional themes. These continually topics are seen in previous cases that have made reappearances in other cases as they are applied to modern times and cases. As seen in the provision of the historic rulings in the 1954 Brown v. Board of Education and the 1964 Reynolds v. Sims that established the rule of â€Å"one person, one vote† and equal protectionRea d MoreO.J. Simpson and the Trial of the Century Essay examples2621 Words   |  11 PagesCotton, laboratory director at Cellmark Diagnostics Inc. and Gary Sims, senior criminalist with the California Department of Justice DNA laboratory (Toobin). At the Bundy crime scene police found the bodies, Browns, amassed in a pool of blood bigger than her body, and Goldmans, his shirt pulled over his head as if to keep him from helping Brown. Of the nine blood samples found on the property six were a match to Simpson. Many found near the victims and others found on the walk, leading out to whereRead MoreMartha Stewart and the Imclone Scandal3198 Words   |  13 Pages1-0083 Martha Stewart and the ImClone Scandal On January 20, 2004, jury selection launched the trial of Martha Stewart, Chief Creative Officer and former Chief Executive Officer and Chairman of the Board of Martha Stewart Living Omnimedia (MSO). Nine charges filed by the Federal Grand Jury in New York and the SEC relate to Stewart’s personal sale of $228,000 in ImClone Systems, Inc. stock on December 27, 2001, one day before regulators rejected the biotech company’s cancer drug (Erbitux) and sent

Building Inspection Checklist Free Essays

BUILDING INSPECTION CHECKLIST Location: 1. 2. 3. We will write a custom essay sample on Building Inspection Checklist or any similar topic only for you Order Now 4. 5. 6. 7. 8. 9. Is the building address or identification clearly visible? Are exterior lights in working order? Are periodic inspections conducted and documented? Is an unobstructed access road to the building provided? Are the exits onto public streets free from visibility obstructions? Are trees and shrubs pruned and documented? Are roots pruned and documented? Are all building sides accessible to emergency equipment? Are fire hydrants accessible? Exterior: Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Interior: No No No No No No No No No No No No No No No No No No No No No No No No No No No No N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 10. Are sprinkler/standpipe connections accessible? 11. Are sprinkler/standpipe connections clearly marked? 12. Are landscape sprinklers at least 6 inches from walkways or pathways? 13. Does the building appear to be in good repair? 14. Is building free from signs of vandalism? 15. Are exterior walls free from cracks or other damages? 16. Are windows free from cracks or broken panes? 17. Has vegetation been cut back from the building? 18. Are turf areas inspected for holes, exposed roots, etc. and documented? 19. Are paved surfaces inspected and repaired (i. e. , lifts, cracks, etc. )? 20. Are combustible materials stored away from the building? 21. Is the building free from signs of exterior damage? 22. Are stairs, landings and handrails in good repair and fastened securely? (inspect the bottom of each step) 23. Are facilities periodically inspected and documented? 24. Are all sewer clean out caps in place? 25. Are all irrigation covers in place? 26. Are housing authority owned light post bases free of rust and/or deterioration? 27. Do entrance doors close slowly to avoid hazards to fingers? 28. Are utility/cable boxes marked â€Å"Keep Off†? Electrical System: Building Inspection Checklist Page 2 29. Are all electrical panels secured? 30. Is a 3†² clearance provided around all electrical panels? 31. Are all electrical rooms free from combustible storage? 32. Are all electrical panels cool to the touch? 33. Are all electrical panels free from evidence of burning? 34. Have all electrical circuits been identified? 35. Are all electrical switches and receptacles in good repair? 36. Has the use of extension cords been discontinued? 37. Have Ground Fault Interrupter’s been provided on circuits in proximity to water? 38. Is there a â€Å"lock-out† procedure in place? Heating System: 39. Is a 3†² clearance provided around all heating equipment? 40. Are furnace/boiler rooms kept locked? 41. Are furnace/boiler rooms free from combustible storage? 2. Are residents reminded to keep combustibles away from heaters? Smoking: 43. Is smoking prohibited in the building common areas? 44. Are designated smoking areas properly identified? 45. Are non-combustible receptacles provided in smoking areas? 46. Are smoking materials disposed of properly? Housekeeping: 47. Is trash removed from the building daily? 48. Is storage restricted to desi gnated areas? 49. Is storage neatly arranged and secured from rolling away? Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Yes Yes Yes Yes No No No No N/A N/A N/A N/A Yes Yes Yes Yes No No No No N/A N/A N/A Yes Yes Yes No No No N/A N/A Building Inspection Checklist Page 3 Private Protection: 50. Is building equipped with an automatic sprinkler system? 51. Is the main sprinkler control valve accessible? 52. Are all valves supplying water or air to the system open? 53. Is system operation monitored by an alarm company? 54. Is valve operation monitored by an alarm company? 55. Is the sprinkler system tested on a quarterly basis and documented? 56. Are spare sprinkler heads available in the building? 7. Is the building equipped with a fire detection system? 58. Does the system protect the entire building? 59. Does the system provide an alarm signal in the building? 60. Is system tested on a monthly basis and documented? 61. Is the main alarm panel in normal operating condition? 62. Are portable fire extinguishers provided? 63. Are all extinguishers inspected on a monthly basis and documented? 64. Do all exti nguishers have a current inspection tag? Emergency Evacuation: 65. Are all exits and travel paths identified with illuminated â€Å"EXIT† signs? 66. Are travel paths leading to exits free of obstructions? 67. Are exits unlocked and operational? 68. Are working emergency lights provided in the building? 69. Are emergency lights tested periodically and documented? 70. Are evacuation diagrams posted throughout the building? Miscellaneous: 71. Has flammable storage been limited to designated areas? 72. Is all cooking equipment protected by extinguishing systems? 73. Is cooking equipment clean? 74. Are filters inspected periodically and documented? 75. Are all computer areas free from combustible storage? Yes Yes Yes Yes Yes No No No No No N/A N/A N/A N/A N/A Yes Yes Yes Yes Yes Yes No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No No No N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Building Inspection Checklist Page 4 NOTIFY YOUR SUPERVISOR IF ANY QUESTIONS WERE ANSWERED â€Å"NO† Inspected By: Date: The following items have been followed-up on. This has been accomplished by putting them on a work order: Item No. Work Order # Item No. Work Order # Item No. Work Order # How to cite Building Inspection Checklist, Essay examples

Economic Principles to Environmental Policy

Question: Discuss about the Economic Principles to Environmental Policy. Answer: Introduction: This research study would focus on the impact of smoking rates in the Australian economy and the cost of the economy. In the words of Sun Daniels (2014), the negative externality of smoking which is the root cause of the market failure has been critically evaluated, and the effectiveness of the initiative of Australian Governments for diminishing the smoking rates through the process of plain packaging has been assessed in this research study. Moreover, relevant charts, tables, and graphs have been used sources of evidence to represent the analysis in a significant manner. Rates of smoking and cost to the economy From the current study of the Australian Bureau of Statistics (ABS), it can be inferred that increase in smoking rates in Australia is considered as a serious threat to the country as mainly young generations are severely affected for that along with the increase in cost of the nation and decrease in social benefit of the economy. According to the social survey report of Aboriginal and Torres Strait Islander, both males and females are identified as daily smokers within the age group of 15 years (Department of Health | Tobacco Control key facts and figures, 2016). However, the report of the survey would deduce that the rate of smoking in both the cases is continuously decreasing from the year 2002 to 2015. Previously, the rate of male smokers was 41% in 2002 which is declined to 38.9% in the year of 2015, and the percentage of female smokers has fallen from 43% to 36% in the year of 2015 (Department of Health | Tobacco Control key facts and figures, 2016). Figure 1: Smoking rate of Australia in different age groups Source: (Health behaviors and other risks to health (AIHW), 2016) Furthermore, the young generations of Australia are very much addicted to the smoking; though the rate of smoking has declined from 39% to 31% in the year 2015 within the age group of 15 to 24 years. In addition, as per the health survey of ABS, approximately 12.7% people within the age group of 45 years smoked on a daily basis; since 52.6% people never smoked in the life (Department of Health | Tobacco Control key facts and figures, 2016). Apart from this, the tendency of smoking is higher in the remote and outer regional of Australia compared to the major cities and inner regional areas. Year/ Gender 2001 2004-05 2007-08 2011-12 Male 27.20% 26.20% 23.00% 20.40% Female 21.20% 20.30% 19.00% 16.30% Table 1: Rate of smoking of male and female in different years Source: (Gender Indicators, Australia, Jan 2013, 2016) Figure 2: Bar diagram of male and female smokers in different years Source: (Gender Indicators, Australia, Jan 2013, 2016) From the above dataset of male and female smokers in Australia in different years, a bar diagram has been provided in this context to get a clear view of rate of smoking in this above-concerned country. In this perspective, due to increase rate of smoking, the cost of the economy rises in a significant manner. The increase in smoking rate would enhance the social cost and health cost of the nation leading to the death rate of the economy which increased from 19429 in the year 1999 to 14901 to the year of 2005 (The costs of smoking - Tobacco In Australia, 2016). Figure 3: Tangible and Intangible cost of the economy Source: (The costs of smoking - Tobacco In Australia, 2016) From the above figure, the associated cost of smoking namely tangible and intangible cost is presented in this context, which is linked with the labor costs, health illness, and abusive consumption, loss of joyful life, psychological coats and cost of fires which is associated with smoking. Negative externality and market failure of the economy According to Ashley, Nardinelli Lavaty (2015), negative externalities would influence the market failures of the economy as it causes health care diseases, lungs cancer and pollution in the economy, which is not desirable. Moreover, in this perspective, the amount of private benefit is higher than the amount of social benefit for which the deadweight loss of economy occurs. The consumption level of the economy is much higher than the socially efficient level of the economy along with the lower level of price (Sun Daniels, 2014). Figure 3: Negative externality of the economy Source: (Pearson Australia, 2016) According to the figure, the demand curve of social benefit refers to the consumption of cigarettes which is lower than the demand curve of private benefit. As the people of this country over consumed the cigarettes, the market equilibrium of the economy is higher than the socially efficient level of equilibrium (Sassi, Merkur McDaid, 2015). As a result, deadweight loss occurs in the nation, which is a serious threat to the economy. Policy of plain packaging system In this context, the Australian government would take an initiative of plain packaging for reducing the increased level of smoking rate. The policy would concentrate on the facts of expanding and updating of the health warnings and regulate the restriction on the advertisement of tobacco consumption which is beneficial to diminish the habit of tobacco consumption (Department of Health | Introduction of Tobacco Plain Packaging in Australia, 2016). Furthermore, the Australian government imposed a tax on smoking and increased the excise duty approximately 25% in the year of 2010. In addition, the people who are engaged to smuggling offenses are punished by the government of the country. To regulate the act successfully, the Australian government would impose an act of Tobacco Plain Packaging in the year 2011 and Tobacco Plain Packaging Regulations in the year 2011 for diminishing the consumption of tobacco. To effective the policy regarding the plain packaging system, the Australian government would levy an excise duty according to the weight of the production of tobacco and cigarette and rose the real excise duty of the tobacco products through the index of Consumer Price from the year of 1993 to the year 1995 (The costs of smoking - Tobacco In Australia, 2016). By increasing the prices of tobacco through the procedure of taxation, the governments of this country would be able to reduce the health issues, death, and diseases which are mainly caused by the bad impact of smoking. In the words of Sassi, Merkur McDaid (2015), due to increasing in the price of tobacco products would influence to fall the consumption rate of this product which is a very effective proced ure for the plain packaging system. On the contrary, as commented by Soon, Jean Tan (2015), this policy would be ineffective to reduce the consumption of tobacco and cigarettes as the human nature always addicted to smoking. Figure 4: Phase of plain packaging system of different age groups Source: (Department of Health | Evaluation of Tobacco Plain Packaging in Australia, 2016) The above figure depicts the fact that the plain packaging system is effective for reducing the consumption of smoking in different age groups. The young generations would positively respond compare to the other age groups of the people in this context. Though the policy has faced some barrier through the factors of elasticity, rent seeking, industry opposition, unexpected consequences and asymmetric information by which the effectiveness of this policy cannot be achieved fully (Ashley, Nardinelli Lavaty, 2015). In the words of Soon, Jean Tan (2015), the rise in the price of the cigarettes would not have any direct impact on the amount of consumption as the nature of the product is inelastic. Moreover, most of the smokers are not aware of the government policies which are beneficial to their health and do not bother about the imposition of tax and excise duty on the price of cigarettes. Conclusion: By referring to the above analysis, it can be inferred that the Australian government would concentrate on reducing the tendency of smoking in different age groups of the people by the plain packaging system. But, the policy has faced some problems relating to the asymmetric information and elasticity of products. Reference list: The costs of smoking - Tobacco In Australia. (2016).Tobaccoinaustralia.org.au. Retrieved 30 August 2016, from https://www.tobaccoinaustralia.org.au/chapter-17-economics/17-2-the-costs-of-smoking Gender Indicators, Australia, Jan 2013. (2016).Abs.gov.au. Retrieved 30 August 2016, from https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/4125.0main+features3320Jan%202013 Ashley, E. M., Nardinelli, C., Lavaty, R. A. (2015). Estimating the benefits of public health policies that reduce harmful consumption.Health economics,24(5), 617-624. Department of Health | Evaluation of Tobacco Plain Packaging in Australia. (2016).Health.gov.au. Retrieved 30 August 2016, from https://www.health.gov.au/internet/main/publishing.nsf/Content/tobacco-plain-packaging-evaluation#a Department of Health | Introduction of Tobacco Plain Packaging in Australia. (2016).Health.gov.au. Retrieved 30 August 2016, from https://www.health.gov.au/internet/main/publishing.nsf/Content/tobacco-plain Department of Health | Tobacco Control key facts and figures. (2016).Health.gov.au. Retrieved 30 August 2016, from https://www.health.gov.au/internet/main/publishing.nsf/Content/tobacco-kff Health behaviours and other risks to health (AIHW). (2016).Aihw.gov.au. Retrieved 30 August 2016, from https://www.aihw.gov.au/australias-health/2014/health-behaviours/ Sassi, F., Merkur, S., McDaid, D. (2015). Introduction to the economics of health promotion and disease prevention.Promoting Health, Preventing Disease The Economic Case: The Economic Case, 3. Soon, T. Y., Jean, L. T., Tan, K. (2015). Applying Economic Principles to Environmental Policy.50 Years of Environment: Singapore's Journey Towards Environmental Sustainability, 45. Sun, L. G., Daniels, B. (2014). Mirrored Externalities.notre dame law review,90(1), 135.

othello Essay Example

othello Essay The Theme of Quest Explored in Araby and Atonement In James Joyces Araby and Ian McEwans Atonement both authors express that that the characters mature and grow through quests. In Joyces Araby the boy goes on a quest to the bazaar to meet Managans sisters whom he is very interested in. However, because he is a young boy and does not leave his much, and has no source of income there are limitations on his freedom, which ultimately affect his quest. In McEwans Atonement Briony goes through a life near long quest in an attempt to epair the damage in which she inflicted on her sister Cecelia, Robbie and her family. However, similar to the predicament the boy from Joyces Araby goes through, Briony is never able to formally make amends between Cecelia and Robbie because both died in the war. In Joyces Araby the boy wants to go to the bazaar and meet Managans sister. As stated by the boy in Araby l asked for leave to got to the bazaar on Saturday night. My aunt was surprised and hoped it was not some Freemanson affair. I answered a few questions in class. I watched my masters face pass amiability to sternness; he hoped I was I was not beginning to idle. I could not call my wandering thoughts together. We will write a custom essay sample on othello specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on othello specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on othello specifically for you FOR ONLY $16.38 $13.9/page Hire Writer I had hardly any patience with the serious work of life which, now that it stood between me and my desire seemed to me childs play, ugly monotonous childs play. (93 Joyce) This quote shows that the boy is expressing his independence so that he can go and fulfill his quest to meet Managans sister at the bazaar. Joyce adds the details about the boys aunt being surprised that the boy would ask such a thing ecause Joyce is showing the reader that the boy has never asked to go do something like this on his own, he expresses that he is an adolescent and by asking his aunt go to the bazaar he is maturing and growing as a person. Also another key detail that the boy is growing as a person as a result of his quest is because he is experiencing feelings for Managans sister. As stated in Araby: A Quest for Meaning by John Freimarck In Araby the boy ignores the reality of his bleak, winter surroundings and allows the word araby to suggest the exciting Summer world of romance. Freimarck 366) In this quote Freimarck is exploring the idea that the boy is growing up because he is experiencing the feelings of love and romance, feelings that are only experienced by adults. Thus this shows that because of the boys quest to go the bazaar and meet Managans sister the boy shows that he is growing up and maturing and it is shows through his actions and his feelings. In McEwans Atonement Briony, as a young child, makes a terrible mistake of accusing Robbie of rape, a crime in which he did not commit and because of these accusations he goes to Jail. She destroys her relationship with her sister Cecelia, Robbie and her family. As stated by Briony in Atonement A person is, among all else, a material thing, easily torn and not easily mended. (McEwan) In this quote McEwan makes a comparison to the reader that once a material object is broken it is very difficult to pick up the pieces and put it back together and make it look like it was repair it to a point as if nothing happened at all, which is what Briony is on a quest for. By Briony accepting the fact that that her relationship will never be the same ith Cecelia, Robbie, or her family is a part of the growing process of accepting the responsibility for what she did and realizing things will never be the same. Also, by Briony is on a quest, trying desperately to make amends with Cecelia, Robbie and her family shows real signs of growth and maturity in Briony. Throughout much of her adult life Briony is on quest to make things right between her Cecelia Robbie and the rest of her family. As stated by Peter Mathews in his The Impression of Deeper Darkness: Ian McEwans Atonement It is her torturous longing or atonement that places Briony in a kind of psychological hell. McEwan symbolizes this agony in a subtle but consistent foregrounding of the symbolic number three. Mathews 156) In this quote Mathews is telling the reader that throughout Brionys quest she is being tortured because she fails to personally make amends to all those whom she hurt when she blatantly lied about what really happened that night with Robbie. However, because she was tortured for so long during her quest she has grown and matured because of it. In both Araby and Atonement the theme of quest lays a major role in the d evelopment and maturity in both Briony and the boy. Through their experiences on their quests both characters grew and matured from adolescent children into adults. In the case of Briony she grows on her quest through suffering because she will never have the chance to make amends with Cecilia and Robbie because they each died prematurely. In the case of the boy in Araby he grows through expressing his independence to go to the bazaar with Managans sister. In the end each both Briony and the boy both grow as people as a result of their quests.

The African Union Organization

The African Union Organization The African Union is one of the worlds most important intergovernmental organizations. It is composed of 53 countries in Africa and is loosely based on the European Union. These African countries work diplomatically with each other despite differences in geography, history, race, language, and religion to try to improve the political, economic, and social situations for the approximately one billion people that live on the African continent. The African Union promises to protect Africas rich cultures, some of which have existed for thousands of years. African Union Membership The African Union, or AU, includes every independent African country except Morocco. Additionally, the African Union recognizes the Sahrawi Arab Democratic Republic, which is a portion of Western Sahara; this recognition by the AU caused Morocco to resign. South Sudan is the newest member of the African Union, joining on July 28, 2011, less than three weeks after it became an independent country. The OAU: The Precursor to the African Union The African Union was formed after the dissolution of the Organization of African Unity (OAU) in 2002. The OAU was formed in 1963 when many African leaders wanted to accelerate the process of European decolonization and gain independence for a number of new nations. It also wanted to promote peaceful solutions to conflicts, ensure sovereignty forever, and raise living standards. However, the OAU was largely criticized from the beginning. Some countries still had deep ties to its colonial masters. Many countries associated themselves with the ideologies of either the United States or the Soviet Union during the height of the Cold War. Although the OAU gave weapons to rebels and was successful in eliminating colonization, it could not eliminate the massive poverty problem. Its leaders were seen as corrupt and unconcerned for the welfare of the common people. Many civil wars occurred and the OAU could not intervene. In 1984, Morocco left the OAU because it opposed the membership of Western Sahara. In 1994, South Africa joined the OAU after the fall of apartheid. The African Union Is Founded Years later, Libyas leader Muammar Gaddafi, a strong proponent of African unity, encouraged the revival and improvement of the organization. After several conventions, the African Union was formed in 2002. The headquarters of the African Union is in Addis Ababa, Ethiopia. Its official languages are English, French, Arabic, and Portuguese, but many documents are also printed in Swahili and local languages. The leaders of the African Union work together to promote health, education, peace, democracy, human rights, and economic success. Three AU Administrative Bodies The heads of state of each member country form the AU Assembly. These leaders meet semi-annually to discuss the budget and major goals of peace and development. The current leader of the African Union Assembly is Bingu Wa Mutharika, the President of Malawi. The AU Parliament is the legislative body of the African Union and is composed of 265 officials who represent the common people of Africa. Its seat is in Midrand, South Africa. The African Court of Justice works to ensure that human rights for all Africans are respected. The Improvement of Human Life in Africa The African Union strives to improve every aspect of government and human life on the continent. Its leaders try to improve educational and career opportunities for ordinary citizens. It works to get healthy food, safe water, and adequate housing to the poor, especially in times of disaster. It studies the causes of these problems, like famine, drought, crime, and war. Africa has a high population that suffers from diseases like HIV, AIDS, and malaria, so the African Union tries to give treatment to the afflicted and provide education to prevent the spread of these diseases. The Improvement of Government, Finances, and Infrastructure The African Union supports agricultural projects. It works to improve transportation and communication and promotes scientific, technological, industrial, and environmental advancement. Financial practices like free trade, customs unions, and central banks are planned. Tourism and immigration ​are promoted, as well as better uses of energy and the protection of Africas precious natural resources such as gold. Environmental problems like desertification are studied, and Africas livestock resources are given aid. The Improvement of Security A major goal of the African Union is to encourage the collective defense, security, and stability of its members. The African Unions democratic principles have gradually reduced corruption and unfair elections. It tries to prevent conflicts between member nations and solve any disputes that do arise quickly and peacefully. The African Union can grant sanctions on disobedient states and withhold economic and social benefits. It does not tolerate inhumane acts such as genocide, war crimes, and terrorism. The African Union can intervene militarily and has sent peacekeeping troops to alleviate political and social disorder in places like Darfur (Sudan), Somalia, Burundi, and Comoros. However, some of these missions have been criticized as being too underfunded, undermanned, and untrained. A few nations, like Niger, Mauritania, and Madagascar have been suspended from the organization after political events like coup detats. Foreign Relations of the African Union The African Union works closely with diplomats from the United States, European Union, and United Nations. It receives aid from countries around the world to deliver on its promises of peace and health for all Africans. The African Union realizes that its member nations must unite and cooperate to compete in the worlds increasingly globalized economy and foreign relations. It hopes to have a single currency, like the euro, by 2023. An African Union passport may exist one day. In the future, the African Union hopes to benefit people of African origin living throughout the world. African Union Struggles Linger The African Union has improved stability and welfare, but it does have its challenges. Poverty is still a tremendous problem. The organization is deeply in debt and many consider some of its leaders to still be corrupt. Moroccos tension with Western Sahara continues to strain the entire organization. However, several smaller multi-state organizations exist in Africa, like the East African Community and the Economic Community of West African States, so the African Union can study how successful these smaller regional organizations have been in combating poverty and political strife. Conclusion In conclusion, the African Union comprises all but one of Africas countries. Its goal of integration has fostered one identity and has enhanced the political, economic, and social climate of the continent, thereby giving hundreds of millions of people a healthier and more successful future.

Privacy and Security Essay Example | Topics and Well Written Essays - 1000 words

Privacy and Security - Essay Example The leaked documents revealed operational details of a global surveillance apparatus run by the NSA and other members of the Five Eyes alliance, along with numerous commercial and international partners.[3]The public and government officials are divided on the rightness and legality of these programs, but President Barack Obama defends their constitutionality, urgency, and effectiveness as he believes in the tradeoffs between security and privacy. Other commentators claim that privacy should not be traded off in any way for better security. It is argued that the need for security is not threatening Americans’ right to privacy because the state is balancing them in the best way possible. The need for security is paramount, however, and should override privacy concerns because it only preserves public safety by reasonable authority, surveillance, and approval of Congress, some politicians, and courts. The need for security is not threatening Americans’ right to privacy because the state is doing its best to balance both interests. First, President Obama himself assured the public that it is not listening into every call that Americans make. Wiretapping and listening to other data can be considered as a â€Å"search† that can breach the Fourth Amendment, but this is not what the government is doing. Instead, the government is only studying data trends. Lara Jakes and Darlene Superville report on the specific procedures of the government, clarifying that the program does not include listening into calls, but only monitoring the origin and duration of calls. This means that the government is not fully breaching privacy rights. The article no longer explained though how data trends and call location can identify suspicious activities. Jakes and Superville add that if there are specific numbers that are perceived as suspicious of terrorist intentions, intelligence offici als â€Å"must return to court to get approval† before