Free Essays on Chasepeak Vs. New England In 1700s

â€Å"Community organizing refers to the entire process of organizing relationships, identifying issues, mobilizing around those issues, and building an enduring organization†. (Stoecker and Stall, 1996). Although New England and the Chesapeake region were both settled largely by the people of English origin, by 1700 the regions had evolved into two distinct societies. The reasons for this distinct development were mostly based on the level of religious idealism, motives of people who came to settle in these colonies, the environment, & area around them, and the source of economy along with their social life. The first and maybe the most important factor that resulted in two different colonies at the same time period was the motivation of people who migrate to these regions. On one hand, the puritans, who colonized the New England, were very religious. They wanted to create a model society in which there were limits to legitimate commercial behavior, and the religious idealism would turn into a renewed sense of community. They were very strict in their religious beliefs. From the Article of Agreement, Springfield, Massachusetts it is clear that religion was the basis for general laws. It uses the phrase "being by God’s providence engaged together to make a plantation", showing that everything was done in God’s name. The Wage and Price Regulations in Connecticut is an example of common laws being justified by the bible. Also in this document the word "community " is emphasized, just as Winthrop emphasizes it saying: "we must be knit together in this work as one man". The i mmigrants to New England formed very religiously oriented communities. They considered themselves as spiritual members of Church of England, and created a system of self-governing congregations that completely ignored the authority of Anglican bishops, and was governed by Saints. Yet on the other hand Chesapeake society was based on the personal gain and pr... Free Essays on Chasepeak Vs. New England In 1700's Free Essays on Chasepeak Vs. New England In 1700's â€Å"Community organizing refers to the entire process of organizing relationships, identifying issues, mobilizing around those issues, and building an enduring organization†. (Stoecker and Stall, 1996). Although New England and the Chesapeake region were both settled largely by the people of English origin, by 1700 the regions had evolved into two distinct societies. The reasons for this distinct development were mostly based on the level of religious idealism, motives of people who came to settle in these colonies, the environment, & area around them, and the source of economy along with their social life. The first and maybe the most important factor that resulted in two different colonies at the same time period was the motivation of people who migrate to these regions. On one hand, the puritans, who colonized the New England, were very religious. They wanted to create a model society in which there were limits to legitimate commercial behavior, and the religious idealism would turn into a renewed sense of community. They were very strict in their religious beliefs. From the Article of Agreement, Springfield, Massachusetts it is clear that religion was the basis for general laws. It uses the phrase "being by God’s providence engaged together to make a plantation", showing that everything was done in God’s name. The Wage and Price Regulations in Connecticut is an example of common laws being justified by the bible. Also in this document the word "community " is emphasized, just as Winthrop emphasizes it saying: "we must be knit together in this work as one man". The i mmigrants to New England formed very religiously oriented communities. They considered themselves as spiritual members of Church of England, and created a system of self-governing congregations that completely ignored the authority of Anglican bishops, and was governed by Saints. Yet on the other hand Chesapeake society was based on the personal gain and pr...

7 Places to Look for Part-time Jobs

7 Places to Look for Part-time Jobs Part-time jobs are a great opportunity to earn  income and/or develop a new  skill set if you don’t  the time or flexibility to commit to a full-time job. Unfortunately, finding a part-time job is not as simple as you might think. Consider these seven tried and true places to look in order to avoid ending up among the ranks of frustrated part-time job seekers. 1. Local Staffing AgenciesWhile some staffing agencies work only with candidates seeking full-time jobs, others specialize in flexible work arrangements and may have extensive connections with employers looking to fill part-time or seasonal positions. Contact local staffing agencies to find one that meets your needs.2. Classified Ads- Print and OnlineWhile the days of searching your local newspaper listings with a red pen in hand may be coming to an end, the classifieds remain a viable source for finding part-time work. Online help wanted advertising sites also contain part-time employment opportunities. And donâ⠂¬â„¢t forget about sites like Craigslist, which may contain less traditional jobs with more flexible hours.One word of caution: when using Craigslist and similar sites, be sure to take safety measures when it comes to giving out personal information and refrain from accepting interviews at non-public locations.3. Online Job BoardsBecause online job boards are searchable, they make it easier than ever to find a job that suits both your skill set and time constraints. Using the site-provided filter, narrow your search to part-time jobs and see only those that make sense for your schedule.4. Unemployment AgenciesDo you think of unemployment agencies as the places to go when you don’t have a job, as opposed to when you’re looking for one? Think again. Aimed at helping people find work, unemployment agencies maintain databases of current local openings. These may include both full-time and part-time opportunities in industries ranging from food service to retail to healthc are.5. Shoot SmallMany smaller companies, including startups and â€Å"solopreneurs,† are more willing to offer employees flexibility in the workplace. Why? Because they may not yet  have the funds or workload  to support a full-time employee, or may lack sufficient office space for another full-time worker. Expanding your search beyond corporate into smaller- and often specialized  organizations, such as non-profits, museums, libraries, and churches- can yield results.6. Network, Network, NetworkMany employers aren’t eager to waste time and resources advertising part-time jobs. This is where your network comes in. If you let friends- both in person and online- know that you’re looking for part-time work, you’ll likely be pleasantly surprised by what turns up.7. Consider FreelanceA new breed of freelance job boards- such as eLance and oDesk- offer scores of contract and freelance jobs for everyone from software programmers to creative writers. If yo u’re looking for a part-time job that allows you to work from home, these niche job sites deliver.While finding part-time employment can be a challenge, perseverance- and knowing where to look- will ultimately pay off in the form of a job that not only meets your scheduling needs, but also your unique skill set.

Millennials group Essay Example | Topics and Well Written Essays - 1250 words

Millennials group - Essay Example For this essay, the main focus is on the Millennials group. This Millennials key identifying feature is that it is brought up in a digital world. The Millennials are referred to as the Generation Y group, who are between the adolescent age and 30yrs old (13-30yrs). This is the newest group of generation. There are different types of generations: 1) â€Å"the great generation† born in 1925-1942; 2) baby boomers born in 1945-1964; 3) generation Xers born in 1965-1976, and 4) generation Y, born in 1977-2000. All these generations have a considerable impact on the workforce but with the rising numbers of Millennials in the workforce, more changes may yet to come on how organizations operate. Notably, the majority of the top executive positions in various organizations are occupied by the Great generation or baby boomers than the Generation Xers and lastly the lower positions by the Millennials (Smith 1). Millennials â€Å"are the most ethnically and racially diverse cohort of you th† in history. They are an emerging group of all time in U.S. history to be more politically active, for example, during the 2008 elections 66% of them endorsed Obama as they preferred candidate as compared to 32% who voted for McCain. These figures show a huge gap as compared to other generations voting figures which were closely equal. They are also the generation with good familiarity with recent technology as parts of their daily lives â€Å"like tweeting and texting, facebook, YouTube†¦Ã¢â‚¬  They are also not religious as compared to the other generations. The Millennials always have a tendency of desiring regular promotions in their jobs and for them to climb the ladder quickly to the top managerial positions. They rely on mentoring and have strong personalities of achieving more each day.

A Role for Theory Research Paper Example | Topics and Well Written Essays - 500 words - 1

A Role for Theory - Research Paper Example Theory therefore has become the basis of further advanced learning. The group theory perspective is one important idea that could help explain public-policy origination, implementation and/or execution. At some point, this covers elemental ideas that could help explain the preferences of certain political parties (Simon, 2010, p.24). As observed, people when come into a group would usually create strong political power. In fact, when there is consensus over everything, power or voices of the majority usually prevails. More about these ideas are actually emphasized in detail through the group theory perspective. Therefore, it is important that even though theory would not become the basis of the actual truth, it could stand as a significant framework prior to the discovery of more advanced form of learning. Theory therefore could either be proven or should become the basis of improving higher form of knowledge or ideas on certain things. In the case of group theory together with its p erspectives, it is clear that it has become the basis and even stepping stone to leapfrog in the field of public policy origination, implementation and/or execution. Group theory is composed of theoretical models of group behavior which one could use to predict the kind or level of policy creation or implementation needed (Smith, 2007, p.6). In other words, with group theory one would have the chance to picture out certain group behavioral models so as to provide substantial reduction of complexity in understanding group behaviors. After all, policy creation and implementation relied on certain things and these include group reaction or its level of response. I believe that generally public policy theories have a role to play in the daily lives of policy practitioners as these would supplement their understanding of the policy-making activities aside from actual

The Reality of the Truth Essay Example for Free

The Reality of the Truth Essay What exactly is the truth? Is it reality, sincerity, integrity? Is it accuracy and honesty? How can we tell the difference between the truth and lies? Why does the media have the power to decide for us what is true? As Oscar Wilde once said The truth is rarely pure and never simple. This statement sums up the difficulties of telling the truth, and this is furthermore shown in Rob Sitch et als Frontline, Lies by Michael Leunig and the poem Nothing to Report by May Herschel Clarke. The television show Frontline follows the day to day running of a current affairs show. It shows both on and off air aspects of what people involved with television go though on a daily basis. Mike Moore (Rob Sitch) plays the naive host of the show, who seems to think the whole world revolves around him. An example of this is when Emma sarcastically thanks him for helping with a story and he says Thats ok. Brian is the executive manager of the show and he ultimately decides what is shown on the show and what isnt. Brooke is another reporter who uses deception and manipulation to present the truth. Emma does work behind the scenes and often she should be credited, but the reporters need their ego maintained so she is never recognised for her hard work. Marty is another reporter who has been in the business for a long time, and although he knows about Frontline presenting the incorrect truth, he does nothing to stop them. Like all current affairs shows, the team at Frontline are concerned with gaining ratings every night, rather than telling the real truth to people. One example of this is during the episode Add sex and stir where Brooke interviews a woman booted off her sports team because she wasnt a lesbian. This in fact is not the truth because she was kicked off the team due to her poor form, not her sexuality. Viewers are then manipulated into thinking that the sport is a lesbian sport, and the reputations of the team and sport are ruined. Marty sums up this sensationalising of real truth in one quote, Ancient current affairs recipe my grandmother gave me, you take any story, add sex and stir (Marty, Add sex and stir) Dismissal of the real truth is another technique that the current affairs show Frontline uses to gain ratings. In the episode We aint got dames, Mike wishes to do a story on illegal sweatshops, but Brian dismisses it as being too heavy for the viewers. After much persuasion, Mike thinks he has convinced Brian to show his story (because his ego has finally been satisfied), but the story ends up being a fashion show, totally insulting any work that Mike has done. Although this story did attract more viewers than the sweatshop story would have, it only promotes the fact that viewers lack in knowledge about the real current issues, and they need to show pretty people with bright lights to get their attention. There are many techniques used in Frontline which expose the manipulation that current affairs shows go through to gain ratings. Irony is shown in the episode The siege, where Brooke asks Mrs. Forbes to sign a contract so only frontline can report her story because, Some shows are very unscrupulous (Brooke, The Seige) Brooke says not to give the story to other stations because they might twist her story around to bring out a point she wasnt making, but the irony was that their show was doing exactly that. Use of a handheld camera behind the scenes of the current affairs show can bring out the truth behind the lies, what we see on television may not be true in real life. This applies to Mike in the episode Add sex and stir where he is on Burkes Backyard. He is asked questions about current affairs and does not know how to answer them, then tries to defend himself by asking Burke about plants but he knows everything about them. Although he is shown as an intelligent and well presented man on television, in real life he doesnt know anything. This is also seen when Mike takes part in an ABC debate, but during his introduction all of his material is said and Mike doesnt have anything good to say, which shows that he is not a good speaker in person as he is behind the desk. There is also use of verisimilitude in the show Frontline, with many real media personalities being on the show to make it seem more realistic in telling the truth. Examples of these celebrities are Harry M Miller, Cheryl Kernot, and Bert Newton. The cartoon Lies by Michael Leunig also exposes that the media manipulates and distorts the truth, so it really is presented to us as a lie or the untruth. The cartoon shows people living in their world, but everything has the label lies on it. The billboard which says lies shows that many companies engage in deceptive advertising, and although they arent supposed to do that, they still convince people to buying their products. The newspaper titled lies shows that journalists write from their own perspective and can distort the truth to suit their opinions. The person wearing the lies shirt shows that behind brand name corporations there are lies. An example of this is making clothing in sweatshops then selling it for triple the price of what its really worth (like Nike shoes) and people are paying top dollar just to wear a symbol, which supposedly brings them into an elite group of people, but really they are just lying to themselves. The point Michael Leunig is trying to make is enforced through the main technique of repetition. The word lies is seen 11 times in the comic, and it is the only word on the cartoon. If lies was only mentioned once, many people would not take notice of it, but since it is printed on the billboard, buildings, truck, newspaper, shirt and drink, it shows that lies are everywhere and it really is a big issue. Like the television series Frontline, this cartoon exposes that the world we live in is full of lies and deception, and the media controls what we see and listen to. It is their opinion what we believe, and many people, rather than refuting what is being presented to them in the media, just believe it and keep going with their lives. The poem Nothing to Report by May Herschel Clarke is written during the war times (1940s). During this time, leaders of the country were trying to convince people to fight overseas as a soldier, with hope of coming back as a brave hero. For this heroic image to come to light, anything negative about death in the war would have to be shielded from the people, or else they wouldnt enlist. Ms Clarkes poem targets this issue, talking about how easily death can come, One minute we was laughin next he lays beside me, grinnin dead. After the death, the papers had nothing to report; therefore they were with holding the truth from people. May Herschel Clarke couldnt possibly have been the only one with a death not reported, but no one else seemed to be doing anything about it, because the media has always been very powerful. The poem is written in colloquial language, which could reflect on her education, upbringing or location. This could also be written in that style to follow a rhyming sequence. The last line is a metaphor which shows that the paper is such an effective form of communication, it might as well be a person. Theres nothin to report the papers said This text is very similar to the television series Frontline, in trying to expose the media in its with holding and distortion of the truth. Another example in frontline of withholding the truth is during the episode This night of nights where Mike wishes to do a story about Telecom tapping into phone conversations, but seeing as they are a major sponsor of the television show, frontline cant expose the truth, and give Mike a mobile phone to help him forget about it. If this truth was exposed, telecom would have received many complaints and much abuse, but they would have deserved it. Instead there are still people at home not suspecting a thing. In the end Mike is disadvantaged from not pursuing the story because they listen to his phone conversation about being caught drink driving, and expose him in the newspapers. In the poem Nothing to report, the last line sums up that the media does with hold information and it shouldnt be their right to decide what we see or dont see. Telling the truth is a hard concept to deal with. From the texts Frontline (Rob Sitch et. al. ), Lies by Michael Leunig and Nothing to Report by May. Herschel Clarke we can see that the media does control what we see and believe, but it isnt necessarily the truth. Why does the media have the power to decide what is true? Well if they presented us the facts and let us decide for ourselves, they wouldnt have ratings. We are surrounded by the media (as seen in lies) and it is hard for us to ignore it all. The truth is rarely pure and never simple, in listening to the truth there is always some form of bias, but we must leave it to ourselves to find out many versions of the so called truth and decide for ourselves what we believe. Thank you.

The Small-Scale Study of an Open-Air Market in a Culturally Foreign Setting :: Essays Papers

The Small-Scale Study of an Open-Air Market in a Culturally Foreign Setting The task of learning about the broad patterns within a culture can be a daunting one, and attempting to uncover specific details about a foreign cultural setting is often a frustrating and difficult endeavor. The concept of cross-cultural understanding, however, is not one that can be approached with timidity. By nature, cultural study requires a degree of immersion, a willingness to get one's hands dirty and assault the senses with unfamiliar sights, sounds, smells, and tastes. Only through this experiential learning process can cultural understanding be truly achieved, one small step at a time. Four the past five months, I have undertaken this very assignment: to seek and uncover various cultural trends in a foreign setting through careful study of one aspect of society in that culture. Through this method I have been successful in leaning about both general aspects of culture and some particularities of the cultures I have encountered. The basic goal of the project is simple, to learn the workings of a small-scale market in a culturally foreign setting. Though this, I may be able to explore and discern cultural aspects of the marketplace. This includes both cultural trends influencing the market, and vice versa. Several questions are of particular interest. How does the market function? The economic side of the inquiry includes what sources of goods and materials are available and used, how is a shop rented or owned, and how the labor force is composed. Things like inputs, transactions, prices, demographics, regulation, and the development of the market are all considered. Next, what is the market's function in the city? Whose needs are served, which needs are served, and what is the market's place in the economy of the city or region? Also, what is the direct cultural significance of the market? Are there visible dependence relationships between the market and those who act within it? I will also consider the hist orical context. How and why was the market formed? Finally, what is the future of the market? Will it switch from a local to a tourist market? As you can see, many issues have been raised which may lead to conclusions about the culture of a given setting. In short, what can we learn about how people live by examining how they buy and sell in a market setting?

Educational Memories Essay

I first came into Wakefield City High School on September 1994. I had to go to the hall for an assembly. I was nervous I didn’t know anyone. There was no one else from my old school just me. I was sat down feeling nervous in the assembly just then the head of lower school called out my name. They decided which tutor group I should go to Mrs Ellis’s classroom. I made a few friends in my class Tariq, Ajmal, Safdar and Zulfiqar. At first we all used to have the same timetable and I would ask them which lessons we would have next and which room the lesson would be held. But then gradually we were put into different groups meaning different timetable. Most of the teachers didn’t like us. In maths we would look in the back of textbooks for answers that would be in are maths work. In science we made a mess of all the experiments. I broke three beakers and two test tubes, once I squirted hydrochloric acid at the black board the mark is still there. My music teacher liked me because I was good at the essays and minor music tests. I scored a high mark in the music exam but I was awful at playing music. I blew up the keyboard adapter. We would throw water balloons at everyone in the winter and set of bangers at bonfire week. In food technology the teacher hated are cooking we never cleaned up after we had finished. In art we used to draw pictures on are art folders even though she told us not to draw on them. We would draw a picture of a liver floating in a swimming pool and write next to it Liver+pool FC. My art teacher was Austrian and she would were these big black German boots and walk very disciplined like a solider. I thought she was related Adolph Hitler. In D+T resistant materials we had a teacher called Mr Taylor. Mr Taylor was tall and was a very moody person. When he was drunk he was alright. But when he was sober he was on a short fuse. He would never repeat himself. If anyone in the class asked, â€Å"sir what was the question I didn’t understand it sir† he would start shouting and tell you to just do your work. He was tall skinny and atleast 30 years old. He would wear a white shirt with black pants. His hair had a lot of gel on it and his sideburns were completely shaved of. He always thought he was cool so he always brushed the side of his hair back. He never use to send students to isolation but he sent me because I was outside the school uniform by wearing white trainers. Whenever he explained to the whole class the work, what we had to do. I always fell asleep. So I always washed my face before entering the classroom. If you did anything wrong he would give dirty look and make you look like an idiot as though you are stupid and not clever. In the last two years all the teachers started getting on with me. I started doing well in my science and D+T. I got a high score in my science modular tests and I was predicted a c in my final G. C. S. E exam. In D+T I got a c for my coursework in G. C. S. E project Table. In my final two years at school Mr Taylor would not talk about work in D+T because we know what we had to do finish the design work. Instead Mr Taylor what talk about general interests and all kinds of things that he heard on the news saw in the papers or saw on TV. Most of al this talk was irrelevant but it was just to keep us company while we were working in the workshop and in the classroom. He would even put the radio on in the workshop and we would often have debates. He would view us as engineers including himself, which he was and he viewed the common man as underpaid labourers. He told us about his last job that he would operate a machine. He would just set the material on the machine and program the machine, then he would let the labourer do all the moving and lifting basically the heavy work. He said all this with confidence thinking non-of us would become a labourer, he thought we would all do well with his help D+T. He developed a relationship, which went from student and teacher to colleagues, and everyone knew what to do. We developed confidence in the workshop. I would use the sander and go into the store cupboard looking for whatever I needed to assemble the project. I would use all the machines, tools and equipment in my surrounding. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Mildred Taylor section.

Punishment fit the crime Essay

The just-desert approach to sentencing aims to â€Å"make the punishment fit the crime. † Just deserts is a very old idea revived periodically when officials are desperate for a simple solution to the crime problem. It swept the United States with some success in the 1970s because a few articulate professors and others, when disillusioned with the rehabilitation emphasis of the preceding decades, momentarily overlooked the realities of criminal justice system. They were charmed by the simplicity of prescribing the same penalty for everyone convicted of the same offense, and their rhetoric implied that this would somehow maximize both fairness and crime prevention. The just deserts perspective emphasizes punishment in proportion to the amount of harm done and the rated culpability of the criminal actor. The just desert model of sentencing is based on a philosophy of retribution. Founded on the Principle of Commensurate Deserts, the just desert model holds that punishment should be proportional to the seriousness of an offender’s criminal conduct. This principle is defined by the harm done and the level of culpability attributed to the offender. These principles, in certain important respects, recall the arguments of the classical criminologist Cesare Beccaria (1738-94) for due process in the criminal justice system and are based on a similar understanding of the social contract, which is supposed to apply equally and fairly to everyone. Retributive punishment is thereby regarded as ensuring that offenders do not profit from their wrongdoing. Yet as critics have argued, the fundamental flaw in this line of thinking is that it is applicable only if social relations are just and equal, otherwise there is no equilibrium to restore. In reality, offenders tend to be already socially disadvantaged, so that punishment actually increases inequality rather reducing it (Cavadino and Dignan 42). Sometimes just desert can be negative in the sense of unwanted, as well as something regarded as a good. The fact that the Nazi war criminals did what they did means they deserve punishment: We have a good reason to send them to jail, on the basis of just desert. Other considerations, for example, the fact that nobody will be deterred or that the criminal is old and harmless, may weigh against punishment, and we may even decide not to pursue the case for that reason. But, again, that does not mean that deserving to be punished is irrelevant, just that we’ve decided for other reasons to ignore desert in this case. But again: A principle’s being outweighed is not the same as its having no importance. Expressing both equality and entitlements, our social moral code pulls in different directions. How, then, are we to determine when one principle is more important? Unless we are moral relativists, the mere fact that equality and entitlements are both part of our moral code does not in itself justify a person’s reliance on them, any more than the fact that our moral code once condemned racial mixing while condoning sexual discrimination and slavery should convince us that those principles are justified. Because we know that the rules that define acceptable behavior are continually changing, and sometimes changing for the better, we must allow for the replacement of inferior principles with more reasonable guidelines. There is perhaps a stronger moral argument for the use of the just desert rooted in death penalty (Reiman, 1988). By deliberately causing the death of another, the murderer incurs a moral debt: the loss of his or her own life is earned as a just desert. By taking another person’s life, the offender has treated their victim as having lesser worth than they afford to themself, as presumably they would not willingly accept the same act to be inflicted against themself. Capital punishment for those who commit murder restores an equilibrium. The wrongdoer experiences suffering to the same extent that they inflicted upon another. The ‘golden rule’ of ‘doing unto others what one would want others to do unto one’ is restored, as the punishment impresses upon the offender that their worth is equal to that of their victim. It also has a symbolic value by reaffirming publicly the moral commitment to the ‘golden rule’ as a societal value. On these grounds, Rawlings (1999) defends just desert in principle. He opposes it in practice, however, as in the United States, imposition of the death penalty is discriminatory. To take just one example: the odds of a black person being sentenced to death for the murder of a white victim are far higher than the corresponding odds when a white person murders a black victim. Restorative justice is not without its critics, who point out that there are few safeguards to protect the most vulnerable groups from the pious moralizing of reintegrative shaming. This absence of accountability compounds the lack of protection for the offender in terms of appeals to legal process and due rights. Fundamental issues remain over whether just desert challenges social control or casts the net of social control deeper into the community. References Cavadino, M. and Dignan, J. (2002). The Penal System: An Introduction, 3rd edn, London: Sage. Rawlings, P. (1999). Crime and Power: A History of Criminal Justice, 1688-1998, Harlow: Longman. Reiman, J. (1988). ‘The Justice of the Death Penalty in an Unjust World’, in K. Haas and J. A. Inciardi (eds) Challenging Capital Punishment: Legal and Social Science Approaches, Newbury Park, CA: Sage.

Raising Capital in the Financial Markets Essays

Raising Capital in the Financial Markets Essays Raising Capital in the Financial Markets Essay Raising Capital in the Financial Markets Essay CHAPTER 14 Raising Capital in the Financial Markets CHAPTER ORIENTATION This chapter considers the market environment in which long-term capital is raised. The underlying rationale for the existence of security markets is presented, investment banking services and procedures are detailed, private placements are discussed, and security market regulation is reviewed. CHAPTER OUTLINE I. The mix of corporate securities sold in the capital market. A. When corporations raise cash in the capital market, what type of financing vehicle is most favored? The answer to this question is corporate bonds. The corporate debt markets clearly dominate the corporate equity markets when new (external) funds are being raised. B. From our discussion on the cost of capital, we understand that the U. S. tax system inherently favors debt as a means of raising capital. During the 1999-2001 period, bonds and notes accounted for about 76. 9 percent of new corporate securities sold for cash. II. Why financial markets exist A. Financial markets consist of institutions and procedures that facilitate transactions in all types of financial claims. B. Some economic units spend more than they earn during a given period of time. Some economic units spend less than they earn. Accordingly, a mechanism is needed to facilitate the transfer of savings from those economic units that have a savings surplus to those that have a savings deficit. Financial markets provide such a mechanism. C. The function of financial markets then is to allocate savings in an economy to the ultimate demander (user) of the savings. D. If there were no financial markets, the wealth of an economy would be lessened. Savings could not be transferred to economic units, such as business firms, which are most in need of those funds. III. Financing business: The movement of funds through the economy. A. In a normal year the household sector is the largest net supplier of funds to the financial markets. We call the household sector then a savings-surplus sector. 1. The household sector can also be a savings-deficit sector. 2. From 1995 – 1999, the household sector was a net user of financial capital as a result of taking advantage of low interest rate mortgages. B. In contrast, the nonfinancial business sector is typically a savings-deficit sector. 1. The nonfinancial business sector can also be a savings-surplus sector. . Economic conditions and corporate profitability influence the ability of this sector to provide funds to the financial market. C. In recent years, the foreign sector has become a major savings-surplus sector. D. Within the domestic economy, the nonfinancial business sector is dependent on the household sector to finance its investment needs. E. The movement of savings through the economy occur s in three distinct ways: 1. The direct transfer of funds 2. Indirect transfer using the investment banker 3. Indirect transfer using the financial intermediary IV. Components of the U. S. financial market system A. Public offerings can be distinguished from private placements. 1. The public (financial) market is an impersonal market in which both individual and institutional investors have the opportunity to acquire securities. a. A public offering takes place in the public market. b. The security-issuing firm does not meet (face-to-face) the actual investors in the securities. 2. In a private placement of securities, only a limited number of investors have the opportunity to purchase a portion of the issue. a. The market for private placements is more personal than its public counterpart. b. The specific details of the issue may actually be developed on a face-to-face basis among the potential investors and the issuer. c. Venture capital (1)Start-up firms often turn to venture capitalists to raise funds. (a)Broader public markets find these firms too risky. (b)Venture capitalists are willing to accept the risks because of an expectation of higher returns. (1)Venture capital firms that acquire equity in a start-up firm manage risk by sitting on the firm’s board of directors r actively monitoring management’s activities. (2)Venture capital is often provided by established non-venture-capitalist firms that take a minority investment position in an emerging firm or create a separate venture capital subsidiary. (a)The investment approach allows the established firm to gain access to new technology and to create strategic alliances. (b)The subsidiary approach allows the established firm to retain human and intellectual capital. B. Primary markets can be distinguished from secondary markets. 1. Securities are first offered for sale in a primary market. For example, the sale of a new bond issue, preferred stock issue, or common stock issue takes place in the primary market. These transactions increase the total stock of financial assets in existence in the economy. 2. Trading in currently existing securities takes place in the secondary market. The total stock of financial assets is unaffected by such transactions. C. The money market can be distinguished from the capital market. 1. The money market consists of the institutions and procedures that provide for transactions in short-term debt instruments which are generally issued by borrowers who have very high credit ratings. . Short-term means that the securities traded in the money market have maturity periods of not more than 1 year. b. Equity instruments are not traded in the money market. c. Typical examples of money market instruments are (l) U. S. Treasury bills, (2) federal agency securities, (3) bankers acceptances, (4) negotiable certificates of deposit, and (5) commercial paper. 2. The capital market consists of the institutions and procedures that provide for transactions in long-term financial instruments. This market encompasses those securities that have maturity periods extending beyond 1 year. D. Organized security exchanges can be distinguished from over-the-counter markets. 1. Organized security exchanges are tangible entities whose activities are governed by a set of bylaws. Security exchanges physically occupy space and financial instruments are traded on such premises. a. Major stock exchanges must comply with a strict set of reporting requirements established by the Securities and Exchange Commission (SEC). These exchanges are said to be registered. b. Organized security exchanges provide several benefits to both corporations and investors. They (l) provide a continuous market, (2) establish and publicize fair security prices, and (3) help businesses raise new financial capital. c. A corporation must take steps to have its securities listed on an exchange in order to directly receive the benefits noted above. Listing criteria differ from exchange to exchange. 2. Over-the-counter markets include all security markets except the organized exchanges. The money market is a prominent example. Most corporate bonds are traded over-the-counter. . NASDAQ, a telecommunication system providing an information link among brokers and dealers in the OTC markets, accounted for 43% of the national exchange equity market trading in the U. S. , measured in dollar volume for the year 1998. Nasdaq Stock Market, Inc. trades securities of over 3,600 public companies as of 2002. V. The Investment Banker A. The investment banker is a financial specialist wh o acts as an intermediary in the selling of securities. The investment banker works for an investment banking house (firm). B. Three basic functions are provided by the investment banker: 1. The investment banker assumes the risk of selling a new security issue at a satisfactory (profitable) price. This is called underwriting. Typically, the investment banking house, along with the underwriting syndicate, actually buys the new issue from the corporation that is raising funds. The syndicate (group of investment banking firms) then sells the issue to the investing public at a higher (hopefully) price than it paid for it. 2. The investment banker provides for the distribution of the securities to the investing public. 3. The investment banker advises firms on the details of selling securities. C. Several distribution methods are available for placing new securities into the hands of final investors. The investment bankers role is different in each case. 1. In a negotiated purchase, the firm in need of funds contacts an investment banker and begins the sequence of steps leading to the final distribution of the securities that will be offered. The price that the investment banker pays for the securities is negotiated with the issuing firm. 2. In a competitive-bid purchase, the investment banker and underwriting syndicate are selected by an auction process. The syndicate willing to pay the greatest dollar amount per new security to the issuing firm wins the competitive bid. This means that it will underwrite and distribute the issue. In this situation, the price paid to the issuer is not negotiated; instead, it is determined by a sealed-bid process much on the order of construction bids. 3. In a commission (or best-efforts), offering the investment banker does not act as an underwriter but rather attempts to sell the issue in return for a fixed commission on each security that is actually sold. Unsold securities are simply returned to the firm hoping to raise funds. . In a privileged subscription, the new issue is not offered to the investing public. It is sold to a definite and limited group of investors. Current stockholders are often the privileged group. 5. In a direct sale, the issuing firm sells the securities to the investing public without involving an investment banker in the process. This is not a typical procedure. VI. More o n Private placements: The Debt Side A. Each year billions of dollars of new securities are privately (directly) placed with final investors. In a private placement, a small number of investors purchase the entire security offering. Most private placements involve debt instruments. B. Large financial institutions are the major investors in private placements. These include (l) life insurance firms, (2) state and local retirement funds, and (3) private pension funds. C. The advantages and disadvantages of private placements as opposed to public offerings must be carefully evaluated by management. 1. The advantages include (a) greater speed than a public offering in actually obtaining the needed funds, (b) lower flotation costs than are associated with a public issue, and (c) increased flexibility in the financing contract. 2. The disadvantages include (a) higher interest costs than are ordinarily associated with a comparable public issue, (b) the imposition of restrictive covenants in the financing contract, and (c) the possibility that the security may have to be registered some time in the future at the lenders option. VII. Flotation costs A. The firm raising long-term capital typically incurs two types of flotation costs: (l) the underwriters spread and (2) issuing costs. The former is typically the larger. 1. The underwriters spread is the difference between the gross and net proceeds from a specific security issue. This absolute dollar difference is usually expressed as a percent of the gross proceeds. 2. Many components comprise issue costs. The two most significant are (l) printing and engraving and (2) legal fees. For comparison purposes, these are usually expressed as a percent of the issues gross proceeds. B. SEC data reveal two relationships about flotation costs. 1. Issue costs (as a percent of gross proceeds) for common stock exceed those of preferred stock, which exceed those of bonds. 2. Total flotation costs per dollar raised decrease as the dollar size of the security issue increases. VIII. Regulation A. The primary market is governed by the Securities Act of 1933. 1. The intent of this federal regulation is to provide potential investors with accurate and truthful disclosure about the firm and the new securities being sold. 2. Unless exempted, the corporation selling securities to the public must register the securities with the SEC. 3. Exemptions allow follow for a variety of conditions. For example, if the size of the offering is small enough (less than $1. 5 million), the offering does not have to be registered. If the issue is already regulated or controlled by some other federal agency, registration with the SEC is not required. Railroad issues and public utility issues are examples. 4. If not exempted, a registration statement is filed with the SEC containing particulars about the security-issuing firm and the new security. 5. A copy of the prospectus, a summary registration statement, is also filed. It will not yet have the selling price of the security printed on it; it is referred to as a red herring and called that until approved by the SEC. 6. If the information in the registration statement and prospectus is satisfactory to the SEC, the firm can proceed to sell the new issue. If the information is not satisfactory, a stop order is issued which prevents the immediate sale of the issue. Deficiencies have to be corrected to the satisfaction of the SEC before the firm can sell the securities. 7. The SEC does not evaluate the investment quality of any issue. It is concerned instead with the presentation of complete and accurate information upon which the potential investor can act. B. The secondary market is regulated by the Securities Exchange Act of 1934. This federal act created the SEC. It has many aspects. 1. Major security exchanges must register with the SEC. 2. Insider trading must be reported to the SEC. 3. Manipulative trading that affects security prices is prohibited. 4. Proxy procedures are controlled by the SEC. 5. The Federal Reserve Board has the responsibility of setting margin requirements. This affects the proportion of a security purchase that can be made via credit. C. The Securities Acts Amendments of 1975 touched on three important issues. 1. Congress mandated the creation of a national market system (NMS). Implementation details of the NMS were left to the SEC. Agreement on the final form of the NMS is yet to come. 2. Fixed commissions (also called fixed brokerage rates) on public transactions in securities were eliminated. 3. Financial institutions, like commercial banks and insurance firms, were prohibited from acquiring membership on stock exchanges where their purpose in so doing might be to reduce or save commissions on their own trades. D. In March 1982, the SEC adopted Rule 415. This process is now known as a shelf registration or a shelf offering. . This allows the firm to avoid the lengthy, full registration process each time a public offering of securities is desired. 2. In effect, a master registration statement that covers the financing plans of the firm over the coming two years is filed with the SEC. After approval, the securities are sold to the investing public in a piecemeal fashion or off the shelf. 3. Prior to each specific offering, a short statement about the iss ue is filed with the SEC. E. Congress passed in July 2002 the Public Company Accounting Reform and Investor Protection Act. The short name for the act became the Sarbanes-Oxley Act of 2002. 1. The Sarbanes-Oxley Act was passed as the result of a large series of corporate indiscretions. 2. The act contains 11 â€Å"titles† which tightened significantly the latitudes given to corporate advisors (like accountants, lawyers, company officers, and boards of directors) who have access to or influence company decisions. 3. The initial title of the act created the Public Company Accounting Oversight Board. This board’s purpose is to regulate the accounting industry relative to public companies that they audit. Members are appointed by the SEC. . As recently June of 2003, the oversight board itself published a set of ethics rules to police its own set of activities. IX. The Multinational Firm: Efficient Financial Markets and Intercountry Risk A. The United States’ highly developed, complex and competitive financial markets facilitate the transfer of savings from the saving-surplus sector to the saving-deficit sector. B. Multinational firms are reluctant to invest in countries with ineffective financial systems. 1. Financial and political systems lacking integrity will often be rejected for direct investment by multinational firms. . Countries that experience significant devaluation of its currency may also be considered too risky for investment. ANSWERS TO END-OF-CHAPTER QUESTIONS 14-1. Financial markets are institutions and procedures that facilitate transactions in all types of financial claims. Financial markets perform the function of allocating savings in the economy to the ultimate demander(s) of the savings. Without these financial markets, the total wealth of the economy would be lessened. Financial markets aid the rate of capital formation in the economy. 14-2. A financial intermediary issues its own type of security which is called an indirect security. It does this to attract funds. Once the funds are attracted, the intermediary purchases the financial claims of other economic units in order to generate a return on the invested funds. A life insurance company, for example, issues life insurance policies (its indirect security) and buys corporate bonds in large quantities. 14-3. The money market consists of all institutions and procedures that accomplish transactions in short-term debt instruments issued by borrowers with (typically) high credit ratings. Examples of securities traded in the money market include U. S. Treasury Bills, bankers’ acceptances, and commercial paper. Notice that all of these are debt instruments. Equity securities are not traded in the money market. It is entirely an over-the-counter market. On the other hand, the capital market provides for transactions in long-term financial claims (those claims with maturity periods extending beyond one year). Trades in the capital market can take place on organized security exchanges or over-the-counter markets. 14-4. Organized stock exchanges provide for: (1)A continuous market. This means a series of continuous security prices is generated. Price changes between trades are dampened, reducing price volatility, and enhancing the liquidity of securities. (2)Establishing and publicizing fair security prices. Prices on an organized exchange are determined in the manner of an auction. Moreover, the prices are published in widely available media like newspapers. (3)An aftermarket to aid businesses in the flotation of new security issues. The continuous pricing mechanism provided by the exchanges facilitates the determination of offering prices in new flotations. The initial buyer of the new issue has a ready market in which he can sell the security should he need liquidity rather than a financial asset. 14-5. The criteria for listing can be labeled as follows: (1) profitability; (2) size; (3) market value; (4) public ownership. 14-6. Most bonds are traded among very large financial institutions. Life insurance companies and pension funds are typical examples. These institutions deal in large quantities (blocks) of securities. An over-the-counter bond dealer can easily bring together a few buyers and sellers of these large quantities of bonds. By comparison, common stocks are owned by millions of investors. The organized exchanges are necessary to accomplish the fragmented trading in equities. 14-7. The investment banker is a middleman involved in the channeling of savings into long-term investment. He performs the functions of: (1) underwriting; (2) distributing; (3) advising. By assuming underwriting risk, the investment banker and his syndicate purchase the securities from the issuer and hope to sell them at a higher price. Distributing the securities means getting those financial claims into the hands of the ultimate investor. This is accomplished through the syndicates selling group. Finally, the investment banker can provide the corporate client with sound advice on which type of security to issue, when to issue it, and how to price it. 14-8. In a negotiated purchase, the corporate security issuer and the managing investment banker negotiate the price that the investment banker will pay the issuer for the new offering of securities. In a competitive-bid situation, the price paid to the corporate security issuer is determined by competitive (sealed) bids, which are submitted by several nvestment banking syndicates hoping to win the right to underwrite the offering. 14-9. Investment banking syndicates are established for three key reasons: (1) the investment banker who originates the business probably cannot afford to purchase the entire new issue himself; (2) to spread the risk of loss among several underwriters; (3) to widen the distribution network. 14-10. Several positive benefits are associated with p rivate placements. The first is speed. Funds can be obtained quickly, primarily due to the absence of a required registration with the SEC. Second, flotation costs are lower as compared to public offerings of the same dollar size. Third, greater financing flexibility is associated with the private placement. All of the funds, for example, need not be borrowed at once. They can be taken over a period of time. Elements of the debt contract can also be renegotiated during the life of the loan. 14-11. As a percent of gross proceeds, flotation costs are inversely related to the dollar size of the new issue. Additionally, common stock is more expensive to issue than preferred stock, which is more expensive to issue than debt. 4-12. The answer on this is clear. The corporate debt markets dominate the corporate equity markets when new funds are raised. The tax system of the U. S. economy favors debt financing by making interest expense deductible from income when computing the firms federal tax liability. Consider all corporate securities offered for cash over the period 1999-2001. The percentage of the total represented by bond s and notes was 76. 9 percent compared to 23. 1 percent equity. 14-13. The household sector is the largest net supplier of savings to the financial markets. Foreign financial investors have recently been net suppliers of savings to the financial markets. On the other hand, the nonfinancial corporate business sector is most often a savings-deficit sector. The U. S. Government sector too is a deficit sector in most years. 14-14. First, there may be a direct transfer of savings from the investor to the borrower. Second, there may be an indirect transfer that used the services provided by an investment banker. Third, there may be an indirect transfer that uses the services of a financial intermediary. Private pension funds and life insurance companies are prominent examples of the latter case.

How to Save PHP Files in Mac TextEdit

How to Save PHP Files in Mac TextEdit TextEdit is a simple text editor that comes standard on every Apple Macintosh computer. By following a few simple steps, you can use the TextEdit program to create and save PHP files. PHP is a server-side programming language that is used in conjunction with HTML to enhance the features of a website. Open TextEdit ​If the icon for TextEdit is  located on the dock, as it is when the computer ships, just click the icon to launch TextEdit. Otherwise, Open a Finder window by clicking on the Finder icon in the dock.Choose Applications from the menu on the left.In the list of applications on the right side of the screen, find and double-click TextEdit. Change the TextEdit Preferences From the Format menu at the top of the screen, choose Make Plain Text. If you dont see this option, but see Make Rich Text, the document is already set for plain text.Select Preferences from the TextEdit menu at the top of the screen.Click the New Document tab and confirm the radio button next to Plain text is selected.Click the Open and Save tab and confirm the box next to Display HTML files as HTML code instead of formatted text is checked. Enter the Code Type the  PHP code into TextEdit. Save theFile Choose Save  from the File menu.Enter your_file_name.php into the Save As field, being sure to include the .php extension.Click the Save button. If a pop-up  asks you if you want to use .txt or .php as the file extension. Click the Use .php button. Testing You cannot test your PHP code in TextEdit. You can test it in PHP if you have it on your Mac, or you can download an emulator app from the Mac App Store- PHP Code Tester, PHP Runner and qPHP can all be used to test the accuracy of your code. Just copy it from the TextEdit File and paste it into the application screen.

Ethical v. unethical hacking Research Paper Example | Topics and Well Written Essays - 2500 words

Ethical v. unethical hacking - Research Paper Example The revelations of individuals such as Julian Assange and Edward Snowden have underscored the pertinence and relevance of considering the potential for information to be compromised, hacked, and used by third parties that have never been given license or permission for such use. As such, the relevance of hacking is something that not only considers an individual hacker but entire corporations, or national security apparatus. For this very reason, the following plan will provide an overview for how information will be included, what will be discussed and what metrics will be utilized to measure and draw inference upon hacking and the differential, if any exists, between â€Å"ethical† and â€Å"unethical† hacking. In this way, the following brief discussion has analyzed a litany of both primary and secondary texts in the attempt to provide a valid and fair overview into the issues at hand. Furthermore, by discussing and analyzing the different theoretical approaches that different authors have made, in determining ethics and/or the definitions/interpretation of hacking, the analysis has engaged in a diverse approach to the literature and sought to reflect this with respect to the representations and determinations that have been made. In this evolved and highly digital era, cyber security is probably the most notable type of security individuals and companies ought to be concerned with. Businesses, governments, schools, banks, hospitals and virtually every modern institution that comes to mind keeps and organizes information it acquires electronically. Individuals also have a host of information stored electronically. This implies that highly sensitive information – from account and credit card numbers, to phone bills and medical records – is available to people who can decide to steal, manipulate, or share the information maliciously (Leeson & Coyne, 2005). Hacking is mostly