Preserve the Forests
In agreement with Kim Stafford, who opposes the clear-cutting of old growth forests, I feel that it is necessary to preserve the profitable lumber in its natural state for future generations. Currently, the tons of lumber produced from the Pacific Northwest region of the United States are taken for granted, and most people do not realize that the forests will be destroyed within ten years at this rate of exploiting our natural resources. We must make loggers a profession of the past and divert those current ones into another sector in our society. The spotted owl is more than a *Darwinistic* survival of the fittest issue; it represents the direction of our only planet.
In order to preserve the beauty of this planet, we must cease the clear-cutting of forests. All old growth forests have been around for multiple centuries and are cut down daily in a matter of hours in order to produce more buildings and houses in this already over-crowded world. If the rate at which we cut down trees is continued without any regulation, the forests will all be gone in ten years, so we should do mankind a favor and try to preserve what is left. If the old growth forests are gone, then they can never return because it takes over five generations to produce one and at the rate that the human population is increasing, there is not enough land to have a secure place for a new forest.
If we realize that it is best for the human race to stop destroying the natural resources, then we must destroy, too, the existence of loggers all together. To do so, there must not be any new loggers, so all training potential loggers must be stopped. The current loggers must be diverted to another occupation. Perhaps if the public supported the notion of stopping clear-cutting, the government would be able to provide services to educate the loggers in a different field. Also, with public support, many companies will probably offer several programs for former loggers. No matter what we choose today, the loggers have seen their last Haley*s comet; they will all be gone with forests in ten years.
When we stop the development and decrease the number of loggers, we will help save the spotted owl, a species that has greater importance than a mere animal towards the our species. It is a symbol of the general health of Mother Earth, a figure without which no living object can survive. If the cutting of forests at this rate remains constant, the spotted owls will disappear within the ten years along with the our forests.
In order to regulate the logging industry to keep our trees intact, there must be public support for the idea. With that, the government would most likely be willing to provide educational services for the loggers who need to get new jobs. Sooner of later, this sacrifice of loggers will occur, and the latest will be in ten years. The spotted owl represents a major part of our natural resources. At this rate, that major part will disappear along with the spotted owl in a mere decade.
Saturday, January 12, 2013
Long Swings in the Exchange Rate and the Excess Returns Puzzl
William Strauss
Long Swings in the Exchange Rate and the Excess Returns Puzzle:
The Role of Imperfect Knowledge
The paper is a clear breath of "dirty" air in the sterile world of perfect foresight. The authors offer a well worked out model of how agents persistently bid the exchange rate away from the expected long-run equilibrium rate. It seems intuitively comfortable to see the mathematical justification for the unexplained excess returns to be a function of the distance from the bench-mark (PPP). The uncertainty of a switch occurring in a regime (the Peso Problem) is an interest-ing form within which to embed the imperfect information. It is a format that seems ready to ex-pand into many other areas of economic modeling in which expectations are at the core of the model's dynamics.
Of course, the choice of the benchmark is key to the mechanics of the process. In this case, PPP is an obvious choice... but, since the idea of PPP drives this model so strongly, it is interesting to look at its place and its characteristics. In the paper, the authors note that if PPP holds, "relative excess demand for domestic and foreign goods is zero." The obvious suggestion, based on the model, is that the flow of goods and services is the foundation for the equilibrating dynamic. Behind the flow of goods and services is the gap between the gap between, domestic and foreign short-term rates, and the steady state long-run interest rate gap that sets goods flows to zero. The assumption is that the prices of the domestic and foreign goods in their respective for-eign currencies are "incorrect" based on the fundamentals of the respective countries and that agents know this (and know that the exchange rate path is unstable) but cannot be sure of the de-gree of "incorrectness" or the persistence of the divergence. Embedded into this model are as-sumptions about PPP that provide comfort about this benchmark's ability to give the "correct" relative prices. It is possible that these assumptions, to some degree, mask the complexity of the situation with respect to PPP's ability to proxy relative prices. At the theoretical level, PPP should simply offer equal purchasing power for equal commodity bundles through the exchange rate. Unfortunately, the problem of explaining stylized facts requires some matching with reality. Set-tling for getting the signs right mitigates much of the angst, but, as has been demonstrated by the predictive abilities of many of the models to date, the problem is not really solved. Perhaps the model of PPP as a function of interest rates only misses something...
But here we have a BIG step (from the real exchange rate side, not from the side of better modeling PPP) toward not only getting the signs right, but also understanding the dynamics of the switch. If PPP were built from a micro-foundation choice-based model (where demand-side ef-fects influence saving/investment and interest rates), I suspect that we might see a real conver-gence toward understanding the excess returns puzzle.
Long Swings in the Exchange Rate and the Excess Returns Puzzle:
The Role of Imperfect Knowledge
The paper is a clear breath of "dirty" air in the sterile world of perfect foresight. The authors offer a well worked out model of how agents persistently bid the exchange rate away from the expected long-run equilibrium rate. It seems intuitively comfortable to see the mathematical justification for the unexplained excess returns to be a function of the distance from the bench-mark (PPP). The uncertainty of a switch occurring in a regime (the Peso Problem) is an interest-ing form within which to embed the imperfect information. It is a format that seems ready to ex-pand into many other areas of economic modeling in which expectations are at the core of the model's dynamics.
Of course, the choice of the benchmark is key to the mechanics of the process. In this case, PPP is an obvious choice... but, since the idea of PPP drives this model so strongly, it is interesting to look at its place and its characteristics. In the paper, the authors note that if PPP holds, "relative excess demand for domestic and foreign goods is zero." The obvious suggestion, based on the model, is that the flow of goods and services is the foundation for the equilibrating dynamic. Behind the flow of goods and services is the gap between the gap between, domestic and foreign short-term rates, and the steady state long-run interest rate gap that sets goods flows to zero. The assumption is that the prices of the domestic and foreign goods in their respective for-eign currencies are "incorrect" based on the fundamentals of the respective countries and that agents know this (and know that the exchange rate path is unstable) but cannot be sure of the de-gree of "incorrectness" or the persistence of the divergence. Embedded into this model are as-sumptions about PPP that provide comfort about this benchmark's ability to give the "correct" relative prices. It is possible that these assumptions, to some degree, mask the complexity of the situation with respect to PPP's ability to proxy relative prices. At the theoretical level, PPP should simply offer equal purchasing power for equal commodity bundles through the exchange rate. Unfortunately, the problem of explaining stylized facts requires some matching with reality. Set-tling for getting the signs right mitigates much of the angst, but, as has been demonstrated by the predictive abilities of many of the models to date, the problem is not really solved. Perhaps the model of PPP as a function of interest rates only misses something...
But here we have a BIG step (from the real exchange rate side, not from the side of better modeling PPP) toward not only getting the signs right, but also understanding the dynamics of the switch. If PPP were built from a micro-foundation choice-based model (where demand-side ef-fects influence saving/investment and interest rates), I suspect that we might see a real conver-gence toward understanding the excess returns puzzle.
Information Technology Outsourcing 2
Information Technology Outsourcing
"Information Technology outsourcing is the contracting out of part or all of an organization's IT activities." New trends have included operations, programming, and technology planning. The main reason for information technology outsourcing is to gain immediate economic gains for the company, usually through savings. Financial motivations aren't first on businesses minds though; other strategic objectives are.
Outsourcing can make it easier to downsize. Because you are bringing in outside help, and can cut back on fixed salaries, the company becomes more variable. Outsourcing leads to tighter linking of strategy and IT. Knowledge which usually flows slowly can flow freely, and a company has more access to outside technology. Plus businesses receive information faster than other types of hierarchical communication, and the resources are endless. Outsourcing can unlock organizational structures. "The unlocked IT organization can provide a better mechanism for costing user requests, prioritizing technology initiatives and controlling expenditures." It offers the benefits of both systems involved. Another important goal that IT outsourcing takes on, is reducing technological risk. By outsourcing your needs you know that that the employee know what they are doing.
Some of the problems IT outsourcing may encounter are, loss of strategic control, risk of technological obsolescence, limiting of long-term flexibility, difficulty in benchmarking initial contract, hostage to additional charges, high exit or switching costs, limited choice of vendors, the fixed nature of legal contracts, legal exposure, from dissatisfied former employees, and cultural conflicts.
The people doing the outsourcing for the companies are sometimes the life's-blood of that company. If the outsourcers want more money, then they are almost obligated to give that money. This is usually the case when the contractors are bringing new technology into the system.
High exit or switching costs entail the switch-over costs the company must shoulder if they decide to end the outsourcing and hire full time employees. It is important not to put too many resources at the hands of the contractors. Limiting this will ease the switch-over costs.
Legal issues also creep into the picture when a company chooses to outsource. Some companies have problems with employees that are not happy with their current arrangement or are mistreated. There tends to be a high unionization with these kinds of workers. A company can not only be held for its actions but also for the actions of the outsourcing agent.
Finally an important factor is cultural conflicts. What is excepted in one culture may be different in another, causing worker and management related problems. For instance the role of leadership in an organization or the number of hours a worker is expected to work a week. These variables have to be scrutinized by the outsourcing company.
"Information Technology outsourcing is the contracting out of part or all of an organization's IT activities." New trends have included operations, programming, and technology planning. The main reason for information technology outsourcing is to gain immediate economic gains for the company, usually through savings. Financial motivations aren't first on businesses minds though; other strategic objectives are.
Outsourcing can make it easier to downsize. Because you are bringing in outside help, and can cut back on fixed salaries, the company becomes more variable. Outsourcing leads to tighter linking of strategy and IT. Knowledge which usually flows slowly can flow freely, and a company has more access to outside technology. Plus businesses receive information faster than other types of hierarchical communication, and the resources are endless. Outsourcing can unlock organizational structures. "The unlocked IT organization can provide a better mechanism for costing user requests, prioritizing technology initiatives and controlling expenditures." It offers the benefits of both systems involved. Another important goal that IT outsourcing takes on, is reducing technological risk. By outsourcing your needs you know that that the employee know what they are doing.
Some of the problems IT outsourcing may encounter are, loss of strategic control, risk of technological obsolescence, limiting of long-term flexibility, difficulty in benchmarking initial contract, hostage to additional charges, high exit or switching costs, limited choice of vendors, the fixed nature of legal contracts, legal exposure, from dissatisfied former employees, and cultural conflicts.
The people doing the outsourcing for the companies are sometimes the life's-blood of that company. If the outsourcers want more money, then they are almost obligated to give that money. This is usually the case when the contractors are bringing new technology into the system.
High exit or switching costs entail the switch-over costs the company must shoulder if they decide to end the outsourcing and hire full time employees. It is important not to put too many resources at the hands of the contractors. Limiting this will ease the switch-over costs.
Legal issues also creep into the picture when a company chooses to outsource. Some companies have problems with employees that are not happy with their current arrangement or are mistreated. There tends to be a high unionization with these kinds of workers. A company can not only be held for its actions but also for the actions of the outsourcing agent.
Finally an important factor is cultural conflicts. What is excepted in one culture may be different in another, causing worker and management related problems. For instance the role of leadership in an organization or the number of hours a worker is expected to work a week. These variables have to be scrutinized by the outsourcing company.
Saturday, January 5, 2013
Things as Related to Stuff
There is a highly distinguishable difference between things and stuff
per se. In this essay I will help the reader become proficient in
identifying what may fall under the classification of things and what is
stuff.
The thing is that things and stuff often appear the same on the surface,
but they are in actuality very different. Things have more spirituality as
opposed to stuff, which has a meaning that is more of the literal kind. It
is kind of hard to understand at first, but hopefully I will be able to
enlighten you. Things are like closer to God or something. On the seventh
day, God said "I'm tired of this creations stuff. It's too specific. Let
there be things." And so then there were things. It is in this way that
we have God to thank for our fortunate inheritance of all the beautiful
things on this earth. This is why things are cool.
Stuff is more literal
per se. In this essay I will help the reader become proficient in
identifying what may fall under the classification of things and what is
stuff.
The thing is that things and stuff often appear the same on the surface,
but they are in actuality very different. Things have more spirituality as
opposed to stuff, which has a meaning that is more of the literal kind. It
is kind of hard to understand at first, but hopefully I will be able to
enlighten you. Things are like closer to God or something. On the seventh
day, God said "I'm tired of this creations stuff. It's too specific. Let
there be things." And so then there were things. It is in this way that
we have God to thank for our fortunate inheritance of all the beautiful
things on this earth. This is why things are cool.
Stuff is more literal
the wave
ISP'S
Best ones so far are these next two
40 dollar setup fee and 5 dollars a month
so 100 dollars by math but when totaled i think
he said 112 dollars one time payment and i get
email but no web space
he has a T1 connection and a 10 to 1 ratio
says it will probably be free next year because of
companies putting commercials on there
good location at wilcrest and I-10
unlimited access 713-932-1616
next is 1 year unlimited access for 120 dollars
ratio is better at 8 to 1 and i get email and 5 megs
of web space too
one time payment
but i can go monthly for 14.95
also they have a T1 connection
281-355-0172
Houston Internet Access
493-9785
14.95 unlimited no setup fees at all
sprynet 19.95 unlimited no setup
1-800-sprynet
Worldlink Unlimited
16.80 total unlimited
398-8000
Flashnet
25 setup then 15 a month
or 134 prepaid one year unlimited
Best ones so far are these next two
40 dollar setup fee and 5 dollars a month
so 100 dollars by math but when totaled i think
he said 112 dollars one time payment and i get
email but no web space
he has a T1 connection and a 10 to 1 ratio
says it will probably be free next year because of
companies putting commercials on there
good location at wilcrest and I-10
unlimited access 713-932-1616
next is 1 year unlimited access for 120 dollars
ratio is better at 8 to 1 and i get email and 5 megs
of web space too
one time payment
but i can go monthly for 14.95
also they have a T1 connection
281-355-0172
Houston Internet Access
493-9785
14.95 unlimited no setup fees at all
sprynet 19.95 unlimited no setup
1-800-sprynet
Worldlink Unlimited
16.80 total unlimited
398-8000
Flashnet
25 setup then 15 a month
or 134 prepaid one year unlimited
Projected Profits
Met North Energy Corporation
4 Year Net Profit Projections
The current budget figures for the four year period 1996 - 1999 show a steady decrease in profits eventually resulting in a loss during the fourth year. The graph shows the decrease in net profit while gross profit remains virtually static and expenses increase. After an initial loss during the first year the figures indicate a healthy profit at the end of the period.
The figures in this graph from the spreadsheet clearly show the long term benefits gained by the additional $50,000 when it is added to the 1996 advertising budget.
Despite a loss of $10,000 in the first year the projected profit for the 4 year period is $160,500.
The results of the spreadsheet showing both budget options can be reduced to just one simple graph. This supported by market research would convince management as to which option to choose.
Met North Energy Corporation
Net Profit Projections
Year 1996 1997 1998 1999
Sales $450,000 $455,000 $455,000 $460,000
Projected Sales $450,000 $523,250 $523,250 $529,000
Cost of Goods Sold $180,000 $185,000 $180,000 $185,000
Projected Cost $180,000 $203,500 $198,000 $203,500
Gross Profit $270,000 $270,000 $275,000 $275,000
Projected Gross Profit $270,000 $319,750 $325,250 $325,500
Less Expenses:
Salaries $80,000 $90,000 $100,000 $110,000
Advertising $50,000 $50,000 $50,000 $50,000
Increase in Advertising / 1996 $100,000 $50,000 $50,000 $50,000
Interest $60,000 $60,000 $60,000 $60,000
Depreciation $40,000 $50,000 $55,000 $65,000
Total Expenses $230,000 $250,000 $265,000 $285,000
Projected Expenses $280,000 $250,000 $265,000 $285,000
Net Profit $40,000 $20,000 $10,000 -$10,000
Projected Net Profit -$10,000 $69,750 $60,250 $40,500
Increase in profit $160,500
4 Year Net Profit Projections
The current budget figures for the four year period 1996 - 1999 show a steady decrease in profits eventually resulting in a loss during the fourth year. The graph shows the decrease in net profit while gross profit remains virtually static and expenses increase. After an initial loss during the first year the figures indicate a healthy profit at the end of the period.
The figures in this graph from the spreadsheet clearly show the long term benefits gained by the additional $50,000 when it is added to the 1996 advertising budget.
Despite a loss of $10,000 in the first year the projected profit for the 4 year period is $160,500.
The results of the spreadsheet showing both budget options can be reduced to just one simple graph. This supported by market research would convince management as to which option to choose.
Met North Energy Corporation
Net Profit Projections
Year 1996 1997 1998 1999
Sales $450,000 $455,000 $455,000 $460,000
Projected Sales $450,000 $523,250 $523,250 $529,000
Cost of Goods Sold $180,000 $185,000 $180,000 $185,000
Projected Cost $180,000 $203,500 $198,000 $203,500
Gross Profit $270,000 $270,000 $275,000 $275,000
Projected Gross Profit $270,000 $319,750 $325,250 $325,500
Less Expenses:
Salaries $80,000 $90,000 $100,000 $110,000
Advertising $50,000 $50,000 $50,000 $50,000
Increase in Advertising / 1996 $100,000 $50,000 $50,000 $50,000
Interest $60,000 $60,000 $60,000 $60,000
Depreciation $40,000 $50,000 $55,000 $65,000
Total Expenses $230,000 $250,000 $265,000 $285,000
Projected Expenses $280,000 $250,000 $265,000 $285,000
Net Profit $40,000 $20,000 $10,000 -$10,000
Projected Net Profit -$10,000 $69,750 $60,250 $40,500
Increase in profit $160,500
GDP As a Measure of the Economy 2
GDP As a Measure of the Economy
The GDP is not a sufficient gauge of how the nation's economy is doing. The GDP is a sum of the monetary value of what has been produced in the nation in the past year. The formula for calculating the GDP ignores a large percentage of the activities that transpire in the nation's economy. The formula ignores several things as work done in the home and activities in the underground economy. In general, the GDP includes several items that in reality do not indicate the nation's economic level while excluding a large proportion of the activities of the nation.
The GDP does not include several things that greatly affect the nation's economic standings. The formula does not consider these things simply because they cannot be measured with any accuracy. The work done in the home affects the welfare of the economy because it takes time to care for a house, time that an individual could be working. So in essence, an individual pays themselves to for housework. Also, the underground economy encompasses a considerable amount of the transactions in the economy. This underground economy consists of illicit transactions and the legal ones that cannot be traced. GDP does not include the ecological damage rendered every day by humanity. The pollution caused by everyday life such as trash and the pollution caused by factories and such all damper the economic standings of a nation. While several immeasurable items are left out of the calculation of GDP, a few things are included that do not necessarily need top be. When a disaster strikes a community, the costs of rebuilding are counted in the GDP. The should be counted because it causes work for some but it also is hurting others.
In summation, GDP is not a competent ranking of the nation's economic standings. In the determine of GDP, there are too many items left out of the formula and one too many to give a accurate description of the economy's well-being.
The GDP is not a sufficient gauge of how the nation's economy is doing. The GDP is a sum of the monetary value of what has been produced in the nation in the past year. The formula for calculating the GDP ignores a large percentage of the activities that transpire in the nation's economy. The formula ignores several things as work done in the home and activities in the underground economy. In general, the GDP includes several items that in reality do not indicate the nation's economic level while excluding a large proportion of the activities of the nation.
The GDP does not include several things that greatly affect the nation's economic standings. The formula does not consider these things simply because they cannot be measured with any accuracy. The work done in the home affects the welfare of the economy because it takes time to care for a house, time that an individual could be working. So in essence, an individual pays themselves to for housework. Also, the underground economy encompasses a considerable amount of the transactions in the economy. This underground economy consists of illicit transactions and the legal ones that cannot be traced. GDP does not include the ecological damage rendered every day by humanity. The pollution caused by everyday life such as trash and the pollution caused by factories and such all damper the economic standings of a nation. While several immeasurable items are left out of the calculation of GDP, a few things are included that do not necessarily need top be. When a disaster strikes a community, the costs of rebuilding are counted in the GDP. The should be counted because it causes work for some but it also is hurting others.
In summation, GDP is not a competent ranking of the nation's economic standings. In the determine of GDP, there are too many items left out of the formula and one too many to give a accurate description of the economy's well-being.
French Revolution 2
French Revolution
There were many factors that contributed to the French Revolution. First of all was the greatest percent of the population, the commoners, had the least amount of power and land. This laid the foundation for social unrest which is necessary for a revolution. Second, the French economy was very weak due to France's involvement in the American Revolution. In addition to the economic problems that the American Revolution caused, it also put Enlightenment ideas into the minds of the French people. Last, weak leadership was provided under Louis XVI. He called the Estates General into session to raise taxes to pay debts incurred due to the American Revolution. Once in session, the Third Estate, the commoners, demanded a representative National Assembly and a Constitution. When Louis XVI denied their request, they sat on the tennis court and swore not to leave until their demands were met. This is known as the "Tennis Court Oath." This stalemate was broken by the storming of the Bastille (a debtor's prison) on July 14, 1789. Louis XVI agreed to their demands.
This revolution resulted in the end of the old paradigm and the beginning of the Enlightenment paradigm. The Declaration of the Rights of Man and the Constitution of 1791 were written. Some of these changes include freedom of speech , due process under law, equality under law. It also enabled the creation of a laissez-fairre economic policy, with a free market and free trade.
I believe that this revolution was inevitable due to the conditions that the majority of the population was living under. It will also have a lasting impact because the Constitution will protect these rights.
There were many factors that contributed to the French Revolution. First of all was the greatest percent of the population, the commoners, had the least amount of power and land. This laid the foundation for social unrest which is necessary for a revolution. Second, the French economy was very weak due to France's involvement in the American Revolution. In addition to the economic problems that the American Revolution caused, it also put Enlightenment ideas into the minds of the French people. Last, weak leadership was provided under Louis XVI. He called the Estates General into session to raise taxes to pay debts incurred due to the American Revolution. Once in session, the Third Estate, the commoners, demanded a representative National Assembly and a Constitution. When Louis XVI denied their request, they sat on the tennis court and swore not to leave until their demands were met. This is known as the "Tennis Court Oath." This stalemate was broken by the storming of the Bastille (a debtor's prison) on July 14, 1789. Louis XVI agreed to their demands.
This revolution resulted in the end of the old paradigm and the beginning of the Enlightenment paradigm. The Declaration of the Rights of Man and the Constitution of 1791 were written. Some of these changes include freedom of speech , due process under law, equality under law. It also enabled the creation of a laissez-fairre economic policy, with a free market and free trade.
I believe that this revolution was inevitable due to the conditions that the majority of the population was living under. It will also have a lasting impact because the Constitution will protect these rights.
Finance
1)
Arithmetic mean Standard Deviation
1. Intermediate T-Bond 2.15592593 7.08417535
2. T-bond 2.74185185 12.7163729
3. EAFE Index 7.49074074 23.4421382
4. S&P 500 5.31518519 16.8600115
5. Small Stock Index 8.01444444 24.8112222
2) Payoff per $1.00 Invested
1. Intermediate T-bond $10.05447301
2. T-bond $10.47833304
3. EAFE Index $23.11274502
4. S&P Index $15.0826532
5. Small Stock Index $22.6971407
The EAFE Index would have had the biggest payoff if $1.00 was invested.
3) Payoff Inflation Increase in purchasing power
S&P : 15.08265 / 4.324340574 3.49 increase from holding S&P.
1-month T-bill: 6.146689 / 4.324340574 1.42 increase from holding T-bill.
4) Reward to variability
1. Intermediate T-bond 0.30433
2. T-bond 0.215616
3. EAFE Index 0.319542
4. S&P Index 0.315254
5. Small Stock Index 0.323017
The small stock index gives us the best tradeoff during the 27 year period with a reward to variability of 0.323017, the highest of all of the assets in this sample.
5) Arithmetic Average Std. Dev. Reward to Var.
Passive International Portfolio : 4.976556 12.87484 0.386533
The reward to variability is higher for this portfolio than any other portfolios we calculated thus far.
6)
Portfolio of 40% Long-term Bonds and 60% S&P 500 :
Arithmetic Average : 4.285851852
Standard deviation : 13.5640429
Reward to Var. : 0.315971564
The Reward to variability ratio for the passive international portfolio exceeds that of the portfolio of 40% Long-term Bonds and 60% S&P 500 Index.
8) The estimated beta for Chrysler Corporation was 1.70288964 for the period 1987 - 1990. For a portfolio of Utility stocks for the same time period, the beta was 0.62188145. These betas were derives from using the S&P excess return index.
Arithmetic mean Standard Deviation
1. Intermediate T-Bond 2.15592593 7.08417535
2. T-bond 2.74185185 12.7163729
3. EAFE Index 7.49074074 23.4421382
4. S&P 500 5.31518519 16.8600115
5. Small Stock Index 8.01444444 24.8112222
2) Payoff per $1.00 Invested
1. Intermediate T-bond $10.05447301
2. T-bond $10.47833304
3. EAFE Index $23.11274502
4. S&P Index $15.0826532
5. Small Stock Index $22.6971407
The EAFE Index would have had the biggest payoff if $1.00 was invested.
3) Payoff Inflation Increase in purchasing power
S&P : 15.08265 / 4.324340574 3.49 increase from holding S&P.
1-month T-bill: 6.146689 / 4.324340574 1.42 increase from holding T-bill.
4) Reward to variability
1. Intermediate T-bond 0.30433
2. T-bond 0.215616
3. EAFE Index 0.319542
4. S&P Index 0.315254
5. Small Stock Index 0.323017
The small stock index gives us the best tradeoff during the 27 year period with a reward to variability of 0.323017, the highest of all of the assets in this sample.
5) Arithmetic Average Std. Dev. Reward to Var.
Passive International Portfolio : 4.976556 12.87484 0.386533
The reward to variability is higher for this portfolio than any other portfolios we calculated thus far.
6)
Portfolio of 40% Long-term Bonds and 60% S&P 500 :
Arithmetic Average : 4.285851852
Standard deviation : 13.5640429
Reward to Var. : 0.315971564
The Reward to variability ratio for the passive international portfolio exceeds that of the portfolio of 40% Long-term Bonds and 60% S&P 500 Index.
8) The estimated beta for Chrysler Corporation was 1.70288964 for the period 1987 - 1990. For a portfolio of Utility stocks for the same time period, the beta was 0.62188145. These betas were derives from using the S&P excess return index.
Essay 1
IBM Software Base
This folder contains file bases containing Shareware Software. Shareware files are public files for public use. Many Shareware files ask for small contributions to the author for use of the file, users can choose to follow any instructions contained in the files themsleves, although users are under no obligation.
With that out of the way, users can download any files in any of these bases free of charge. Users can also upload files to the Firstclass System. FIles that are uploaded must be non-copyrighted Shareware or Freeware. FIles that are uploaded will be reviewed and approved for download by other useres only if they pass the following rules:
1. Shareware or Freeware
2. Non-copyrighted
3. Appropriate for a school atmosphere
* The uploading of copyrighted software will not be tolerated and be deleted immediately.
Downloading & Uploading
Downloading and Uploading on FirstClass in very simple and easy to learn. You can Download and Upload from the system at Vanguard or using a modem from your home.
To download a file first find the file you want by looking through the various file descriptions. Next place an IBM formated disk in the drive and doubleclick on the attachment file. The computer will then download the file to you disk. To download a file from home you simply call using a modem and doubleclick on the attachment file. The FIrstClass system here at Vanguard will then automaticlly send the file to your computer. Its that easy!
To upload a file simply compose a messege to "IBM SOFTWARE." Next write a file description and then attach the file you wan tto upload by goign to the file menu, and select attach file. Next select the fiel you want to upload. When the transfer is complete simply close the messege like regualr E-MAIL and the fiel will be submitted for approval.
This folder contains file bases containing Shareware Software. Shareware files are public files for public use. Many Shareware files ask for small contributions to the author for use of the file, users can choose to follow any instructions contained in the files themsleves, although users are under no obligation.
With that out of the way, users can download any files in any of these bases free of charge. Users can also upload files to the Firstclass System. FIles that are uploaded must be non-copyrighted Shareware or Freeware. FIles that are uploaded will be reviewed and approved for download by other useres only if they pass the following rules:
1. Shareware or Freeware
2. Non-copyrighted
3. Appropriate for a school atmosphere
* The uploading of copyrighted software will not be tolerated and be deleted immediately.
Downloading & Uploading
Downloading and Uploading on FirstClass in very simple and easy to learn. You can Download and Upload from the system at Vanguard or using a modem from your home.
To download a file first find the file you want by looking through the various file descriptions. Next place an IBM formated disk in the drive and doubleclick on the attachment file. The computer will then download the file to you disk. To download a file from home you simply call using a modem and doubleclick on the attachment file. The FIrstClass system here at Vanguard will then automaticlly send the file to your computer. Its that easy!
To upload a file simply compose a messege to "IBM SOFTWARE." Next write a file description and then attach the file you wan tto upload by goign to the file menu, and select attach file. Next select the fiel you want to upload. When the transfer is complete simply close the messege like regualr E-MAIL and the fiel will be submitted for approval.
Computer Stores Arriving In Volume
Computer dealers are crowding shopping districts, and some analysts think the market is becoming saturated.
In Connecticut alone, the two major shopping districts, Buckland and
the Berlin Turnpike, for instance, shoppers can compare equipment and
costs at Nobody Beats the Wiz, Lechmere, Circut City, Staples, and Office
Max - all within minutes in one another.
Yet, computer retailers insist that there has been a need for more stores
- specifically their own - citing a nearly constant updating of equipment
and a growing emphasis on service. They also believe revenue potential
remains because computers are constanly changing and more people are
becoming curious about the Internet.
Still, many worry the market potential might be waning. Analysts believe
the market is very close to being saturated, if not already there. there
are only so many computers a person will buy, and only so many stores will
a customer visit.
In Connecticut alone, the two major shopping districts, Buckland and
the Berlin Turnpike, for instance, shoppers can compare equipment and
costs at Nobody Beats the Wiz, Lechmere, Circut City, Staples, and Office
Max - all within minutes in one another.
Yet, computer retailers insist that there has been a need for more stores
- specifically their own - citing a nearly constant updating of equipment
and a growing emphasis on service. They also believe revenue potential
remains because computers are constanly changing and more people are
becoming curious about the Internet.
Still, many worry the market potential might be waning. Analysts believe
the market is very close to being saturated, if not already there. there
are only so many computers a person will buy, and only so many stores will
a customer visit.
American online
America Online To Unveil Flat Fee For Internet Access
The Internet is becoming more popular and more widely used, and the Market for internet access is growing rapidly. To stay competitive in this fast-moving industry, America Online has announced that they will switch their price plan for internet access.to a flat-fee rate of $19.95 per month.
After the changed in price (decrease), the Supply curve
"S" will shift to "S1". An increase in Supply curve will increase
(Quantity) people using America Online and decrease Price.
America Online has announced a change to their price plan for internet access. before they charged a rate of $19.95 for only 20 hours of internet access. One of the many reasons is that it could help the service against Internet competitors, by doing this "Keith Benjamin says there may be some short-term negative impact on margins." Negative impact on margins means that there will be decrease in earnings. Another reason for this pricing move is part of a broader effort to add new features to the service and make it more compelling than rivals.
Since America Online's price is lower people will tend to use America Online more. This is a competitive market as America Online lowers their price, other competitors will lower their price too. This will happen until they reach the Equilibrium.
By staying in this fast-moving industry, America Online has unveiled a set of features that include enhancements to listening to audio on-line, better methods for viewing video on-line, and tools for media companies to spruce up their on-line fare. In Addition to that America Online also expected to unveil another initiative whereby Internet-service providers could offer their subscribers easy access to America Online in return for ad revenue.
The Internet is becoming more popular and more widely used, and the Market for internet access is growing rapidly. To stay competitive in this fast-moving industry, America Online has announced that they will switch their price plan for internet access.to a flat-fee rate of $19.95 per month.
After the changed in price (decrease), the Supply curve
"S" will shift to "S1". An increase in Supply curve will increase
(Quantity) people using America Online and decrease Price.
America Online has announced a change to their price plan for internet access. before they charged a rate of $19.95 for only 20 hours of internet access. One of the many reasons is that it could help the service against Internet competitors, by doing this "Keith Benjamin says there may be some short-term negative impact on margins." Negative impact on margins means that there will be decrease in earnings. Another reason for this pricing move is part of a broader effort to add new features to the service and make it more compelling than rivals.
Since America Online's price is lower people will tend to use America Online more. This is a competitive market as America Online lowers their price, other competitors will lower their price too. This will happen until they reach the Equilibrium.
By staying in this fast-moving industry, America Online has unveiled a set of features that include enhancements to listening to audio on-line, better methods for viewing video on-line, and tools for media companies to spruce up their on-line fare. In Addition to that America Online also expected to unveil another initiative whereby Internet-service providers could offer their subscribers easy access to America Online in return for ad revenue.
Affirmative Action 2
Affirmative Action
The term affirmative action is applied to the use of racial, ethnic, or gendr prefrences set apart a variety of social benefits.
The groups receiving such benifits, such as blacks, indians, and women are assumed to havee been victims of descrimination in the past.
Thus, a program most definatly benifiting white males as a group would not be an example of affirmative action for most people.
This would be as unconstitutional as discrimination against non-whites or women.
I feel that the need for affirmative action is varied form case tto case because sometimes people of diffrent races are hired to meet a
quota required by state or federal law. I feel that affirmative action is a quoata system because it is forcing you to hire people possibly
not qualified just because of their race.
I feel the only way to slove this problem is to force people to hire for quality not quanity. A more qualified applicant should not be turned
down for race or gender.
The term affirmative action is applied to the use of racial, ethnic, or gendr prefrences set apart a variety of social benefits.
The groups receiving such benifits, such as blacks, indians, and women are assumed to havee been victims of descrimination in the past.
Thus, a program most definatly benifiting white males as a group would not be an example of affirmative action for most people.
This would be as unconstitutional as discrimination against non-whites or women.
I feel that the need for affirmative action is varied form case tto case because sometimes people of diffrent races are hired to meet a
quota required by state or federal law. I feel that affirmative action is a quoata system because it is forcing you to hire people possibly
not qualified just because of their race.
I feel the only way to slove this problem is to force people to hire for quality not quanity. A more qualified applicant should not be turned
down for race or gender.
Friday, January 4, 2013
John Bates Clark 2
John Bates Clark was an American economist who lived from 1847-1938. He played an important role in the development of marginal productivity, and had a great influence on the development of economic thought in the United States. Clark was educated at Amherst College and at the University of Heidelberg in Germany. He taught at Carlton College in Northfield, Minnesota from 1875 to 1881. He then moved on to teach at Smith College, Amherst, Johns Hopkins and Columbia from which he retired in 1923.
In formulating the Neoclassical theory of the firm, John Bates Clark took over the classical categories of land, labor, and capital and simplified them in two ways, this simplification was the theory of marginal productivity. First, he assumed that all labor is homogenous, which meant that one labor hour is a perfect substitute for any other labor hour, but when marginal productivity was decreasing, the industry found it more profitable to replace labor with machinery. Clark believed that to make a sound economy wages had to be equal to the marginal productivity of labor. This was also beneficial to both the industry and the labor.
Secondly, Clark ignored the distinction between land and capital, grouping together both kinds of non-human inputs under the general term "capital," which he then assumed that the broadened "capital" is homogenous.
John took this Neoclassical approach one step further than others in applying it to the business firm and the maximization of profits. One of the results was a theory of the distribution which demonstrated that market outcomes were just.
Clark also believed that technological change would lead to an increase in the standard of living which he felt was one of the chief goals of any economic system. He felt that with this technological change, labor would be more productive and lead to higher profits for industry. When the labor would see that industry was making higher profits, they would demand its share of the profits for their hard work. The labor's higher wages and the industries' higher profits would increase incomes and better the social living for everyone.
Among Clark's works are The Philosophy of Wealth (1886), The Distribution of Wealth (1899), and Essentials of Economic Theory (1907). His son, John Maurice Clark, also became a noted economist, and even co-wrote some work with his father, but his work is remembered as being quite different from, and in some ways even contradictory to, his father's.
Critics believe that John Bates Clark's ideas were somewhat incomplete because they showed the ideal economy and not the real world of imperfect markets and factors of production. Clark's ideas have aided in the explanation of human economic behavior, and many economists today share his views on marginal analysis and the increased standard of living.
In formulating the Neoclassical theory of the firm, John Bates Clark took over the classical categories of land, labor, and capital and simplified them in two ways, this simplification was the theory of marginal productivity. First, he assumed that all labor is homogenous, which meant that one labor hour is a perfect substitute for any other labor hour, but when marginal productivity was decreasing, the industry found it more profitable to replace labor with machinery. Clark believed that to make a sound economy wages had to be equal to the marginal productivity of labor. This was also beneficial to both the industry and the labor.
Secondly, Clark ignored the distinction between land and capital, grouping together both kinds of non-human inputs under the general term "capital," which he then assumed that the broadened "capital" is homogenous.
John took this Neoclassical approach one step further than others in applying it to the business firm and the maximization of profits. One of the results was a theory of the distribution which demonstrated that market outcomes were just.
Clark also believed that technological change would lead to an increase in the standard of living which he felt was one of the chief goals of any economic system. He felt that with this technological change, labor would be more productive and lead to higher profits for industry. When the labor would see that industry was making higher profits, they would demand its share of the profits for their hard work. The labor's higher wages and the industries' higher profits would increase incomes and better the social living for everyone.
Among Clark's works are The Philosophy of Wealth (1886), The Distribution of Wealth (1899), and Essentials of Economic Theory (1907). His son, John Maurice Clark, also became a noted economist, and even co-wrote some work with his father, but his work is remembered as being quite different from, and in some ways even contradictory to, his father's.
Critics believe that John Bates Clark's ideas were somewhat incomplete because they showed the ideal economy and not the real world of imperfect markets and factors of production. Clark's ideas have aided in the explanation of human economic behavior, and many economists today share his views on marginal analysis and the increased standard of living.
Describe the roles of government in the present business envi
Business Studies - Essay
Q: Describe the roles of government in the present business environment.
In the present business environment governments have the power to
change and make laws, having a major role and influence on the business
environment. There are three levels of government; federal, state and local.
The federal government has power over such areas as; company
law, income tax, trade etc. State government has power over pollution,
price controls, state courts etc. and local government has power over rates,
building approvals and zoning. Through zoning the local government can
decide where businesses are located, or how many similar businesses
should be built in a particular area. The power of the government can have
direct or indirect influences on the business environment, encouraging or
forcing businesses to comply. The federal government has the greatest
effect over the macroeconomic business environment through the making
of policies. The government has a number of economic objectives. They
aim to have consistent economic growth, low rates of inflation, a sound
international trading situation and low unemployment. To meet these
objectives the government must place policies such as fiscal, monetary,
trade and income policies.
Fiscal policy is the deliberate action of the government to change its
levels of income and expenditure, through the annual budget. By
budgeting for a deficit or surplus, the government will contract or expand
the economy. e.g If the government needed to cut unemployment they
would budget for a deficit so more money is injected and less money is
taken from the economy by less taxes and higher expenditure raising
employment.
Monetary policy can also raise the level of economic activity. It
controls the availability of money by influencing the level of interest rates.
Lowering interest rates encourages people to spend and borrow while
higher interest rates encourages people to save and not borrow. By
lowering interest rates the government encourages spending thus
increasing the level of economic activity.
Income policies influence wage outcomes by negotiating with the
unions and the employers and putting arguments before the industrial
relations commission. Governments can restrain real wages and cause
unemployment levels to fall.
Trade policies influence the exchange rate and determines the levels
of production for Australian industries. Trade policies include tariffs,
quotas, embargoes and subsidies, to protect businesses from foreign
competition. Trade policies help the economy by encouraging Australians
to buy Australian products.
The federal governments role in the present business environment is
to promote economic growth, keep unemployment at a minimum, and
protect businesses from foreign competition, by creating policies.
Q: Describe the roles of government in the present business environment.
In the present business environment governments have the power to
change and make laws, having a major role and influence on the business
environment. There are three levels of government; federal, state and local.
The federal government has power over such areas as; company
law, income tax, trade etc. State government has power over pollution,
price controls, state courts etc. and local government has power over rates,
building approvals and zoning. Through zoning the local government can
decide where businesses are located, or how many similar businesses
should be built in a particular area. The power of the government can have
direct or indirect influences on the business environment, encouraging or
forcing businesses to comply. The federal government has the greatest
effect over the macroeconomic business environment through the making
of policies. The government has a number of economic objectives. They
aim to have consistent economic growth, low rates of inflation, a sound
international trading situation and low unemployment. To meet these
objectives the government must place policies such as fiscal, monetary,
trade and income policies.
Fiscal policy is the deliberate action of the government to change its
levels of income and expenditure, through the annual budget. By
budgeting for a deficit or surplus, the government will contract or expand
the economy. e.g If the government needed to cut unemployment they
would budget for a deficit so more money is injected and less money is
taken from the economy by less taxes and higher expenditure raising
employment.
Monetary policy can also raise the level of economic activity. It
controls the availability of money by influencing the level of interest rates.
Lowering interest rates encourages people to spend and borrow while
higher interest rates encourages people to save and not borrow. By
lowering interest rates the government encourages spending thus
increasing the level of economic activity.
Income policies influence wage outcomes by negotiating with the
unions and the employers and putting arguments before the industrial
relations commission. Governments can restrain real wages and cause
unemployment levels to fall.
Trade policies influence the exchange rate and determines the levels
of production for Australian industries. Trade policies include tariffs,
quotas, embargoes and subsidies, to protect businesses from foreign
competition. Trade policies help the economy by encouraging Australians
to buy Australian products.
The federal governments role in the present business environment is
to promote economic growth, keep unemployment at a minimum, and
protect businesses from foreign competition, by creating policies.
Consumer Debt
The reasons we as Americans buy on credit varies, but without it most of us would
probably never be able to purchase necessities such as a home or automobile. The nation's
economy depends on credit, the promise to pay later for goods and services used today;
but along with consumer credit comes consumer debt. With the rise in telemarketing and
commercializing in America it is no wonder why Americans feel the impulse to buy now,
pay later. The most common form of consumer debt is installment debt, which is when a
consumer borrows the money to purchase an item and agrees to repay the loan in equal
installments over a fixed period of time.
Without installment debt most consumers could not afford to purchase items such
as a home. The truth of the matter is that we, as Americans, tend to want to purchase
more than we can afford to purchase when we want it. But, we can afford to pay it out,
over time, in fixed payments.
Mortgages, a debt owed on real property, are the latest form of installment debt.
Other forms include automobile loans and credit card purchases. Just pick up the
newspaper any time after Christmas and you will find articles on managing your mounting
debt from Christmas.
Not realizing the extent of the consumers' debt is one of the most common types of
credit problems. Denial may play a partial role in this problem, but the lack of education
seems to be the largest reason for consumer debt. Credit card use is up 20% and a large
number of Americans do not know the percentage rate at which the credit card companies
charge. Many credit card companies have started "personalizing" interest rates by not
disclosing the interest rate until after the consumer has received the card. By not
disclosing the interest rate on the application the credit card companies prohibit the
consumer from shopping around for the best deal.
You could just say they should cancel the credit card, but did you know several
requests for consumer credit could be viewed negatively because the information is
reported to the credit bureaus? This leaves you, the consumer, with a bad credit report.
Household debt and bankruptcy are at record levels and appear to be on the rise. Until we
as consumers begin to educate ourselves and stop living beyond our means, we only have
ourselves to blame.
In conclusion, although consumers are not forced to buy, most feel compelled to
purchase goods and services because they need them and do not want to wait. Rather than
saving they go into debt, the most common of which is installment debt.
Bibliography
1. Miller, R. L., Economics: Today and Tomorrow, Hesterville, Ohio; Glencoe-McGraw
Hill, 1995
2. "Major Growing Pains" U.S. News and World Report (Oct. 21, 1996) Pg. 62-64
3. "What's the Rate? They Won't Say." U.S. News and World Report (Aug. 19, 1996) pg.
61
4. Lee, Susan Susan Lee's ABZ's of Economics New York; Poseidon Press, 1987
probably never be able to purchase necessities such as a home or automobile. The nation's
economy depends on credit, the promise to pay later for goods and services used today;
but along with consumer credit comes consumer debt. With the rise in telemarketing and
commercializing in America it is no wonder why Americans feel the impulse to buy now,
pay later. The most common form of consumer debt is installment debt, which is when a
consumer borrows the money to purchase an item and agrees to repay the loan in equal
installments over a fixed period of time.
Without installment debt most consumers could not afford to purchase items such
as a home. The truth of the matter is that we, as Americans, tend to want to purchase
more than we can afford to purchase when we want it. But, we can afford to pay it out,
over time, in fixed payments.
Mortgages, a debt owed on real property, are the latest form of installment debt.
Other forms include automobile loans and credit card purchases. Just pick up the
newspaper any time after Christmas and you will find articles on managing your mounting
debt from Christmas.
Not realizing the extent of the consumers' debt is one of the most common types of
credit problems. Denial may play a partial role in this problem, but the lack of education
seems to be the largest reason for consumer debt. Credit card use is up 20% and a large
number of Americans do not know the percentage rate at which the credit card companies
charge. Many credit card companies have started "personalizing" interest rates by not
disclosing the interest rate until after the consumer has received the card. By not
disclosing the interest rate on the application the credit card companies prohibit the
consumer from shopping around for the best deal.
You could just say they should cancel the credit card, but did you know several
requests for consumer credit could be viewed negatively because the information is
reported to the credit bureaus? This leaves you, the consumer, with a bad credit report.
Household debt and bankruptcy are at record levels and appear to be on the rise. Until we
as consumers begin to educate ourselves and stop living beyond our means, we only have
ourselves to blame.
In conclusion, although consumers are not forced to buy, most feel compelled to
purchase goods and services because they need them and do not want to wait. Rather than
saving they go into debt, the most common of which is installment debt.
Bibliography
1. Miller, R. L., Economics: Today and Tomorrow, Hesterville, Ohio; Glencoe-McGraw
Hill, 1995
2. "Major Growing Pains" U.S. News and World Report (Oct. 21, 1996) Pg. 62-64
3. "What's the Rate? They Won't Say." U.S. News and World Report (Aug. 19, 1996) pg.
61
4. Lee, Susan Susan Lee's ABZ's of Economics New York; Poseidon Press, 1987
Thursday, January 3, 2013
Unemployment 5
By getting the proper education and applying for a job, our unemployment has a good chance of decreasing a fair amount.
Unemployment is a big issue since some people seem to think that they can stay unemployed and on welfare for their whole life and get a fair amount of money from our government. "Permanent unemployment is BAD. It's bad for people, it's bad for business and industry, it's bad for productivity and therefor prosperity" (Sartorius, unemployment 4-5). Some citizens believe that even though the current unemployment rate is only about five percent, that still is not that good considering how many people that there are in the United States of America. That is still over five million citizens remaining unemployed (Sartorius, unemployment 4-5). The unemployment rate for August in the United States was "5.1 percent, down three tenths of a piont since the prior month" (Griffin 1). Some researchers have found links between unemployment, poor mental health and poor general health possession. Other studies have shown that the informal support systems, like friends and relatives, can help absorb shock against the negative effects of unemployment (Unemployed 1).
The latest unemployment rate for August '96 shows that 4.3 percent of Vermont's citizens are unemployed. That is about fourteen thousand people in just this one small state (Griffin 1). Think of how many people are unemployed in the entire United States. That would be over five million people. If people wanted to get out and get a job, they probobly could pretty easily. Instead of waiting for theirchecks from the government,they could get a job and bring home more money than the government sends considering that they have the proper education. One way to decrease unemployment would be to get the proper education to be successful in the job industry.
For my solution to the problem, I can launch a page on the internet to let peeople know that they should try their best to achieve a well paying job.
List of Works Cited
Griffin, Michael. " Vermont Unemployment Press Release." Vermont Labor Force Statistics. 26 Sept, 1996: 1. Online. Hilconet. Available http:\\www.cit.state.vt.us/det/detlmi/press.html
Sartorius. " Downsizing ." Unemployment and Inflation. 25 Nov, 1996: 3. Online. Hilconet. Available
http://www.islandnet.com/%7Earton/polunemp.html.
Sartorius. " Unemployment." Unemployment and Inflation. 25 Nov, 1996: 4-5. Online. Hilconet. Available
http://www.islandnet.com/%7Earton/polunemp.html.
"Unemployed and on Welfare?" Unemployed and on Welfare? :1. Online. Hilconet. Available
http://www.emerold.com/zines/health/depres%7E1/welfare.html.
Unemployment is a big issue since some people seem to think that they can stay unemployed and on welfare for their whole life and get a fair amount of money from our government. "Permanent unemployment is BAD. It's bad for people, it's bad for business and industry, it's bad for productivity and therefor prosperity" (Sartorius, unemployment 4-5). Some citizens believe that even though the current unemployment rate is only about five percent, that still is not that good considering how many people that there are in the United States of America. That is still over five million citizens remaining unemployed (Sartorius, unemployment 4-5). The unemployment rate for August in the United States was "5.1 percent, down three tenths of a piont since the prior month" (Griffin 1). Some researchers have found links between unemployment, poor mental health and poor general health possession. Other studies have shown that the informal support systems, like friends and relatives, can help absorb shock against the negative effects of unemployment (Unemployed 1).
The latest unemployment rate for August '96 shows that 4.3 percent of Vermont's citizens are unemployed. That is about fourteen thousand people in just this one small state (Griffin 1). Think of how many people are unemployed in the entire United States. That would be over five million people. If people wanted to get out and get a job, they probobly could pretty easily. Instead of waiting for theirchecks from the government,they could get a job and bring home more money than the government sends considering that they have the proper education. One way to decrease unemployment would be to get the proper education to be successful in the job industry.
For my solution to the problem, I can launch a page on the internet to let peeople know that they should try their best to achieve a well paying job.
List of Works Cited
Griffin, Michael. " Vermont Unemployment Press Release." Vermont Labor Force Statistics. 26 Sept, 1996: 1. Online. Hilconet. Available http:\\www.cit.state.vt.us/det/detlmi/press.html
Sartorius. " Downsizing ." Unemployment and Inflation. 25 Nov, 1996: 3. Online. Hilconet. Available
http://www.islandnet.com/%7Earton/polunemp.html.
Sartorius. " Unemployment." Unemployment and Inflation. 25 Nov, 1996: 4-5. Online. Hilconet. Available
http://www.islandnet.com/%7Earton/polunemp.html.
"Unemployed and on Welfare?" Unemployed and on Welfare? :1. Online. Hilconet. Available
http://www.emerold.com/zines/health/depres%7E1/welfare.html.
The Standard
THE STANDARD
I choose to do my essay on the St. Catharines Standard. The Standard is the St.Catharines and Thorold area newspaper. It provides us with the local news, advertising and it keeps us in touch with what is happening all over the world. It was first owned and runned by the Burgoyne family and was printed in St. Catharines but, was sold last year to Southam Inc. and has started to be printed in Hamilton. Southam Inc. also owns other papers such as The Hamilton Spectator,The Ottawa Citizen and The Kingston Wig. Here are some questions that I have made up about The Standard and I have found the answers for them.
1. How important is The Standard to our economy?
The Standard is pretty important to our economy. It provides the peoples of St.Catharines and Hamillton with jobs. It also let's the local businesses advertise their business to the people and attracts businesses to St. Catharines. Which brings money to the city. And finally, I provides St. Catharines with the daily news about the city and all over the world.
2. What is the source and type of the paper and why is it used?
The Standard gets their paper from wherever they can get it the cheapest. It is Recycled Newsprint. Recycled newsprint is paper that has been previously used paper that has been shredded, de-inked and then turned into pulp so it can make paper again. This type of paper is used because its economical, lightweight, recyclable and is available world wide.
3. What is the process of making the St. Catharines Standard?
The First step in making the newspaper is in the advertising department. The workers in the advertising dept. sell space in the paper to local businesses for ads. This pays for the paper to be made. Then the ads are produced and are redied for the paper a day before it has to be made. After the ad space is sold the paper is sent up to the editorial room so they can look at the space not occupied by ads and decide what stories the need to fill up the paper. Now to make the paper! The pages are assembled and the ads and stories are cut and pasted on to boards. After that a negative is shot of the board. Then they take the negative and make a copy of it on a metal plate. They take the plate and mount it on the press. The pressman begin to roll the press, adjust the inks, check the colour and registration prints. The paper is then sent to the mail room and counted & labeled for its destination. They add the flyer and bundle them up. Then the finished paper is sent to St. Cathaines. The Circulation Department then sells the paper through stores, newspaper boxes and carriers. And that is how the paper is made!
I choose to do my essay on the St. Catharines Standard. The Standard is the St.Catharines and Thorold area newspaper. It provides us with the local news, advertising and it keeps us in touch with what is happening all over the world. It was first owned and runned by the Burgoyne family and was printed in St. Catharines but, was sold last year to Southam Inc. and has started to be printed in Hamilton. Southam Inc. also owns other papers such as The Hamilton Spectator,The Ottawa Citizen and The Kingston Wig. Here are some questions that I have made up about The Standard and I have found the answers for them.
1. How important is The Standard to our economy?
The Standard is pretty important to our economy. It provides the peoples of St.Catharines and Hamillton with jobs. It also let's the local businesses advertise their business to the people and attracts businesses to St. Catharines. Which brings money to the city. And finally, I provides St. Catharines with the daily news about the city and all over the world.
2. What is the source and type of the paper and why is it used?
The Standard gets their paper from wherever they can get it the cheapest. It is Recycled Newsprint. Recycled newsprint is paper that has been previously used paper that has been shredded, de-inked and then turned into pulp so it can make paper again. This type of paper is used because its economical, lightweight, recyclable and is available world wide.
3. What is the process of making the St. Catharines Standard?
The First step in making the newspaper is in the advertising department. The workers in the advertising dept. sell space in the paper to local businesses for ads. This pays for the paper to be made. Then the ads are produced and are redied for the paper a day before it has to be made. After the ad space is sold the paper is sent up to the editorial room so they can look at the space not occupied by ads and decide what stories the need to fill up the paper. Now to make the paper! The pages are assembled and the ads and stories are cut and pasted on to boards. After that a negative is shot of the board. Then they take the negative and make a copy of it on a metal plate. They take the plate and mount it on the press. The pressman begin to roll the press, adjust the inks, check the colour and registration prints. The paper is then sent to the mail room and counted & labeled for its destination. They add the flyer and bundle them up. Then the finished paper is sent to St. Cathaines. The Circulation Department then sells the paper through stores, newspaper boxes and carriers. And that is how the paper is made!
The Consumer Price Index
Sept. 28, 199
Inaccuracies of the Consumer Price Index(CPI)
The Consumer Price Index is a measure of the prices of a fixed market basket of some 300 consumer goods and services purchased by a "typical" urban consumer. The 1982-1984 period serves as the base period so analysts can compare other year's changes with this base period. The composition of the market basket is fixed in the base period and is assumed not to change from one period to another. The reason for the assumption is because the CPI measures the costliness of a constant standard of living. Critics claim that the CPI is inaccurate because it overstates the increases in the cost of living. For this reason, the CPI has been said to be inaccurate.
First, consumers do change their spending patterns. Even though the composition off the market basket is assumed not to change, it does because consumers change their spending patterns. Because consumers substitute lower priced products in lieu of higher priced ones, the weight has shifted. The CPI assumes that this does not occur and therefore it overcompensates the standard of living.
Secondly, because the base period was over a decade ago, the quality of the products has increased significantly, and therefore the prices should be higher. The CPI, however, assumes that the increases in prices is a result of inflation rather than quality improvements which is false. Here also, the CPI overstates the rate of inflation.
Many consumers do not mind the overcompensation of the CPI because in most cases it means more money in their pockets, but there are some consequences. This may cause an ongoing inflation trend. The reason why the government does not restrict it is because they are worried about getting re-elected. Even if the President does call for a revision of the CPI, Congress would defeat it to keep their positions.
Another consequence of the overstated CPI involves the adjustment of tax brackets. Their intent of indexing is to prevent inflation to cause people to be placed into a higher tax bracket. For example, if your income increases by 10%, that may put you in a higher level tax bracket, but if product prices have also increased by 10%, your real income has remained constant. This would transfer money from taxpayers hands to the Federal Government. However, indexing will tend to reduce the Federal Government's share by raising the levels of the tax brackets. Therefore, more money will stay in the people's hands due to indexing.
The only party that seems to be hurting as a result of the overcompensation of the CPI is the Federal Government. Because consumers are the ones that are being affected, they control the CPI as opposed to the Federal Government.
Inaccuracies of the Consumer Price Index(CPI)
The Consumer Price Index is a measure of the prices of a fixed market basket of some 300 consumer goods and services purchased by a "typical" urban consumer. The 1982-1984 period serves as the base period so analysts can compare other year's changes with this base period. The composition of the market basket is fixed in the base period and is assumed not to change from one period to another. The reason for the assumption is because the CPI measures the costliness of a constant standard of living. Critics claim that the CPI is inaccurate because it overstates the increases in the cost of living. For this reason, the CPI has been said to be inaccurate.
First, consumers do change their spending patterns. Even though the composition off the market basket is assumed not to change, it does because consumers change their spending patterns. Because consumers substitute lower priced products in lieu of higher priced ones, the weight has shifted. The CPI assumes that this does not occur and therefore it overcompensates the standard of living.
Secondly, because the base period was over a decade ago, the quality of the products has increased significantly, and therefore the prices should be higher. The CPI, however, assumes that the increases in prices is a result of inflation rather than quality improvements which is false. Here also, the CPI overstates the rate of inflation.
Many consumers do not mind the overcompensation of the CPI because in most cases it means more money in their pockets, but there are some consequences. This may cause an ongoing inflation trend. The reason why the government does not restrict it is because they are worried about getting re-elected. Even if the President does call for a revision of the CPI, Congress would defeat it to keep their positions.
Another consequence of the overstated CPI involves the adjustment of tax brackets. Their intent of indexing is to prevent inflation to cause people to be placed into a higher tax bracket. For example, if your income increases by 10%, that may put you in a higher level tax bracket, but if product prices have also increased by 10%, your real income has remained constant. This would transfer money from taxpayers hands to the Federal Government. However, indexing will tend to reduce the Federal Government's share by raising the levels of the tax brackets. Therefore, more money will stay in the people's hands due to indexing.
The only party that seems to be hurting as a result of the overcompensation of the CPI is the Federal Government. Because consumers are the ones that are being affected, they control the CPI as opposed to the Federal Government.
Inaccuracies of the CPI
Aman Aggarwal
Sept. 28, 1996
Inaccuracies of the Consumer Price Index(CPI)
The Consumer Price Index is a measure of the prices of a fixed market basket of some 300 consumer goods and services purchased by a "typical" urban consumer. The 1982-1984 period serves as the base period so analysts can compare other year's changes with this base period. The composition of the market basket is fixed in the base period and is assumed not to change from one period to another. The reason for the assumption is because the CPI measures the costliness of a constant standard of living. Critics claim that the CPI is inaccurate because it overstates the increases in the cost of living. For this reason, the CPI has been said to be inaccurate.
First, consumers do change their spending patterns. Even though the composition off the market basket is assumed not to change, it does because consumers change their spending patterns. Because consumers substitute lower priced products in lieu of higher priced ones, the weight has shifted. The CPI assumes that this does not occur and therefore it overcompensates the standard of living.
Secondly, because the base period was over a decade ago, the quality of the products has increased significantly, and therefore the prices should be higher. The CPI, however, assumes that the increases in prices is a result of inflation rather than quality improvements which is false. Here also, the CPI overstates the rate of inflation.
Many consumers do not mind the overcompensation of the CPI because in most cases it means more money in their pockets, but there are some consequences. This may cause an ongoing inflation trend. The reason why the government does not restrict it is because they are worried about getting re-elected. Even if the President does call for a revision of the CPI, Congress would defeat it to keep their positions.
Another consequence of the overstated CPI involves the adjustment of tax brackets. Their intent of indexing is to prevent inflation to cause people to be placed into a higher tax bracket. For example, if your income increases by 10%, that may put you in a higher level tax bracket, but if product prices have also increased by 10%, your real income has remained constant. This would transfer money from taxpayers hands to the Federal Government. However, indexing will tend to reduce the Federal Government's share by raising the levels of the tax brackets. Therefore, more money will stay in the people's hands due to indexing.
The only party that seems to be hurting as a result of the overcompensation of the CPI is the Federal Government. Because consumers are the ones that are being affected, they control the CPI as opposed to the Federal Government.
Sept. 28, 1996
Inaccuracies of the Consumer Price Index(CPI)
The Consumer Price Index is a measure of the prices of a fixed market basket of some 300 consumer goods and services purchased by a "typical" urban consumer. The 1982-1984 period serves as the base period so analysts can compare other year's changes with this base period. The composition of the market basket is fixed in the base period and is assumed not to change from one period to another. The reason for the assumption is because the CPI measures the costliness of a constant standard of living. Critics claim that the CPI is inaccurate because it overstates the increases in the cost of living. For this reason, the CPI has been said to be inaccurate.
First, consumers do change their spending patterns. Even though the composition off the market basket is assumed not to change, it does because consumers change their spending patterns. Because consumers substitute lower priced products in lieu of higher priced ones, the weight has shifted. The CPI assumes that this does not occur and therefore it overcompensates the standard of living.
Secondly, because the base period was over a decade ago, the quality of the products has increased significantly, and therefore the prices should be higher. The CPI, however, assumes that the increases in prices is a result of inflation rather than quality improvements which is false. Here also, the CPI overstates the rate of inflation.
Many consumers do not mind the overcompensation of the CPI because in most cases it means more money in their pockets, but there are some consequences. This may cause an ongoing inflation trend. The reason why the government does not restrict it is because they are worried about getting re-elected. Even if the President does call for a revision of the CPI, Congress would defeat it to keep their positions.
Another consequence of the overstated CPI involves the adjustment of tax brackets. Their intent of indexing is to prevent inflation to cause people to be placed into a higher tax bracket. For example, if your income increases by 10%, that may put you in a higher level tax bracket, but if product prices have also increased by 10%, your real income has remained constant. This would transfer money from taxpayers hands to the Federal Government. However, indexing will tend to reduce the Federal Government's share by raising the levels of the tax brackets. Therefore, more money will stay in the people's hands due to indexing.
The only party that seems to be hurting as a result of the overcompensation of the CPI is the Federal Government. Because consumers are the ones that are being affected, they control the CPI as opposed to the Federal Government.
Wednesday, January 2, 2013
Working An American Necessity
During the birth of this country, Puritans had to work hard to ensure the success of the new state. In order to make work more appealing, the Puritans emphasized the fruits of labor. This attitude, reflected in modern day by the act of "working for a living," is considered as a "badge of pride." Puritan attitudes toward work and the attitudes of two modern day writers toward work all agree that the act of working has virtuous effects, an attitude that I share because of my working experience (Clee and Clee 233-234).
Three different attitudes toward work, expressed by several writers whom I have recently studied agree that hard work yields positive rewards. Henry F. Bedford, a history teacher at Phillips Exeter Academy, and Trevor Colbourne, a teacher at the University of New Hampshire, examine the Puritan attitude toward work in their book The Americans: A Brief History. Puritans stress the goodness of working by relating it to religious beliefs. Sloth is sinful, but the Puritans also pointed out that it was self-defeating. Leisure is even considered an "evil temptation" (Bedford and Colbourne 235-238). Marge Piercy, a modern day poet, essayist, and novelist, attempts to explain why work is desirable on contemporary terms in her poem "To Be of Use." To Piercy, hard workers who really persevere are admirable because of the fact that the world is full of temptations to stop working, or to not work altogether. This admiration for determination is apparent because work is as "common as mud," and it must be done sometime (Piercy 242-243). Wendell Berry, an English teacher at the University of Kentucky, explains the basis of the desire to work in his essay "The Joy of Work." In response to the prediction that there will be no work in the future, Berry emphasizes the importance of work to human nature. He explains that people do work because of "fellow feeling," and that people get satisfaction from doing work (Berry 244-247).
The concept of satisfaction as a product of hard work has been proven valid to me through my years of experience.
All of these selections agree that work is a basic part of life: without it, one would have a void in his life where satisfaction would be. Success of humanity depends on work.
Three different attitudes toward work, expressed by several writers whom I have recently studied agree that hard work yields positive rewards. Henry F. Bedford, a history teacher at Phillips Exeter Academy, and Trevor Colbourne, a teacher at the University of New Hampshire, examine the Puritan attitude toward work in their book The Americans: A Brief History. Puritans stress the goodness of working by relating it to religious beliefs. Sloth is sinful, but the Puritans also pointed out that it was self-defeating. Leisure is even considered an "evil temptation" (Bedford and Colbourne 235-238). Marge Piercy, a modern day poet, essayist, and novelist, attempts to explain why work is desirable on contemporary terms in her poem "To Be of Use." To Piercy, hard workers who really persevere are admirable because of the fact that the world is full of temptations to stop working, or to not work altogether. This admiration for determination is apparent because work is as "common as mud," and it must be done sometime (Piercy 242-243). Wendell Berry, an English teacher at the University of Kentucky, explains the basis of the desire to work in his essay "The Joy of Work." In response to the prediction that there will be no work in the future, Berry emphasizes the importance of work to human nature. He explains that people do work because of "fellow feeling," and that people get satisfaction from doing work (Berry 244-247).
The concept of satisfaction as a product of hard work has been proven valid to me through my years of experience.
All of these selections agree that work is a basic part of life: without it, one would have a void in his life where satisfaction would be. Success of humanity depends on work.
Things as Related to Stuff
There is a highly distinguishable difference between things and stuff
per se. In this essay I will help the reader become proficient in
identifying what may fall under the classification of things and what is
stuff.
The thing is that things and stuff often appear the same on the surface,
but they are in actuality very different. Things have more spirituality as
opposed to stuff, which has a meaning that is more of the literal kind. It
is kind of hard to understand at first, but hopefully I will be able to
enlighten you. Things are like closer to God or something. On the seventh
day, God said "I'm tired of this creations stuff. It's too specific. Let
there be things." And so then there were things. It is in this way that
we have God to thank for our fortunate inheritance of all the beautiful
things on this earth. This is why things are cool.
Stuff is more literal
per se. In this essay I will help the reader become proficient in
identifying what may fall under the classification of things and what is
stuff.
The thing is that things and stuff often appear the same on the surface,
but they are in actuality very different. Things have more spirituality as
opposed to stuff, which has a meaning that is more of the literal kind. It
is kind of hard to understand at first, but hopefully I will be able to
enlighten you. Things are like closer to God or something. On the seventh
day, God said "I'm tired of this creations stuff. It's too specific. Let
there be things." And so then there were things. It is in this way that
we have God to thank for our fortunate inheritance of all the beautiful
things on this earth. This is why things are cool.
Stuff is more literal
theory of economics
theory
THE THEORY OF STORAGE. "THE SUPPLY OF STORAGE REFERS
NOT TO THE SUPPLY Of STORAGE SPACE BUT TO THE SUPPLY OF
COMMODITIES AS INVENTORIES. IN GENERAL A SUPPLIER OF
STORAGE IS ANYONE WHO HOLDS TITLE TO STOCKS WITH A VIEW
TO THEIR FUTURE SALE, EITHER IN THEIR PRESENT OR IN A
MODIFIED FORM. SINCE PRODUCTION IS NOT STABLE FOR ALL
COMMODITIES ESPECIALLY ARGICULTURAL CONSUMERS DEMAND
THAT THE STORAGE FUNCTION BE SO PERFORMED THAT THE
FLOW OF COMMODITIES FOR SALE WILL BE MADE RELATIVELY
STABLE." (BRENNAN P. 51)
"the theory purports to provide an explanation of
the holding of all stocks, including those for which
there is not an active future market. it will be shown
that, on the supply side, in addition to the marginal
expenditure on physical storage and the marginal
convenience yield another variable, a risk premium, is
required to explain the holding of stocks as
functions of price spreads. in the empirical part of
the study the theory will be applied to stocks of
several agricultural commodities. the risk premium for
each commodity will be measured residually under
specified conditions by deducting form the price
spread between two periods the other two
components of the marginal cost of storage."
(brennan p.50)
IN GENERAL WE CAN OBTAIN A MEASURE OF THE RELATIVE RISK
PREMIUMS INVOLVED IN THE STORAGE OF DIFFERENT
COMMODITITES.
"allen Paul, in a 1970 American journal of agricultural
economics article, studied the pricing of grain storage
space in the u.s. during the surplus period of the 1950s
and 1960s. Paul's work differs from other works in
that he investigates the pricing of all grain storage
not just that available to a particular commodity.
While brennan's marginal storage cost is from the
point of view of the owner of the grain, Paul is
looking at the first component only. he is only
looking at the charge to owners of grain for
binspace by elevator operators... while paul's
estimated equations may suggest a traditional
positively sloped supply function, he was forced to
concede that, despite his assumptions of 'no
convenience yield,' his estimated equation appeared to
reflect this phenomenon. the study suggests that
commodity contracts are an indirect means of pricing
services." (book article p. 215-220)
THE THEORY OF STORAGE. "THE SUPPLY OF STORAGE REFERS
NOT TO THE SUPPLY Of STORAGE SPACE BUT TO THE SUPPLY OF
COMMODITIES AS INVENTORIES. IN GENERAL A SUPPLIER OF
STORAGE IS ANYONE WHO HOLDS TITLE TO STOCKS WITH A VIEW
TO THEIR FUTURE SALE, EITHER IN THEIR PRESENT OR IN A
MODIFIED FORM. SINCE PRODUCTION IS NOT STABLE FOR ALL
COMMODITIES ESPECIALLY ARGICULTURAL CONSUMERS DEMAND
THAT THE STORAGE FUNCTION BE SO PERFORMED THAT THE
FLOW OF COMMODITIES FOR SALE WILL BE MADE RELATIVELY
STABLE." (BRENNAN P. 51)
"the theory purports to provide an explanation of
the holding of all stocks, including those for which
there is not an active future market. it will be shown
that, on the supply side, in addition to the marginal
expenditure on physical storage and the marginal
convenience yield another variable, a risk premium, is
required to explain the holding of stocks as
functions of price spreads. in the empirical part of
the study the theory will be applied to stocks of
several agricultural commodities. the risk premium for
each commodity will be measured residually under
specified conditions by deducting form the price
spread between two periods the other two
components of the marginal cost of storage."
(brennan p.50)
IN GENERAL WE CAN OBTAIN A MEASURE OF THE RELATIVE RISK
PREMIUMS INVOLVED IN THE STORAGE OF DIFFERENT
COMMODITITES.
"allen Paul, in a 1970 American journal of agricultural
economics article, studied the pricing of grain storage
space in the u.s. during the surplus period of the 1950s
and 1960s. Paul's work differs from other works in
that he investigates the pricing of all grain storage
not just that available to a particular commodity.
While brennan's marginal storage cost is from the
point of view of the owner of the grain, Paul is
looking at the first component only. he is only
looking at the charge to owners of grain for
binspace by elevator operators... while paul's
estimated equations may suggest a traditional
positively sloped supply function, he was forced to
concede that, despite his assumptions of 'no
convenience yield,' his estimated equation appeared to
reflect this phenomenon. the study suggests that
commodity contracts are an indirect means of pricing
services." (book article p. 215-220)
the wave
ISP'S
Best ones so far are these next two
40 dollar setup fee and 5 dollars a month
so 100 dollars by math but when totaled i think
he said 112 dollars one time payment and i get
email but no web space
he has a T1 connection and a 10 to 1 ratio
says it will probably be free next year because of
companies putting commercials on there
good location at wilcrest and I-10
unlimited access 713-932-1616
next is 1 year unlimited access for 120 dollars
ratio is better at 8 to 1 and i get email and 5 megs
of web space too
one time payment
but i can go monthly for 14.95
also they have a T1 connection
281-355-0172
Houston Internet Access
493-9785
14.95 unlimited no setup fees at all
sprynet 19.95 unlimited no setup
1-800-sprynet
Worldlink Unlimited
16.80 total unlimited
398-8000
Flashnet
25 setup then 15 a month
or 134 prepaid one year unlimited
Best ones so far are these next two
40 dollar setup fee and 5 dollars a month
so 100 dollars by math but when totaled i think
he said 112 dollars one time payment and i get
email but no web space
he has a T1 connection and a 10 to 1 ratio
says it will probably be free next year because of
companies putting commercials on there
good location at wilcrest and I-10
unlimited access 713-932-1616
next is 1 year unlimited access for 120 dollars
ratio is better at 8 to 1 and i get email and 5 megs
of web space too
one time payment
but i can go monthly for 14.95
also they have a T1 connection
281-355-0172
Houston Internet Access
493-9785
14.95 unlimited no setup fees at all
sprynet 19.95 unlimited no setup
1-800-sprynet
Worldlink Unlimited
16.80 total unlimited
398-8000
Flashnet
25 setup then 15 a month
or 134 prepaid one year unlimited
State of the Union Essay
Economics 201
State of the Union Address
Essay
President Clinton has declared that "the enemy of our time is inaction," pledging to forge bipartisan agreements on a balanced budget and campaign finance reform within months, and to lead a "national crusade" to improve education by the turn of the century. Education, Clinton vowed, would be his "number-one priority for the next four years," and he devoted the longest portion of his address to this. He appealed for "national standards" to improve
student performance and pledged to promote such standards with voluntary tests prepared by the federal government.
Most of the ideas Clinton presented last night first appeared as poll-tested proposals in his reelection campaign last fall: expanding the 1993 "Family and Medical Leave Act" to include time off from work for parent-teacher conferences; school curfews; and tax credits and deductions to subsidize college education. But he presented these ideas using more encompassing and urgent language than before.
"We face no imminent threat, but we do have an enemy: The enemy of our time is inaction," Clinton declared at the start of his speech. He finished, as he did in last month's address, by invoking the symbolism that the nation is about to pass into a new millennium. "We don't have a moment to waste," he said. "Tomorrow, there will be just over 1,000 days until the year 2000. . . . One thousand days to work together."
The speech proved shorter than predicted and far more organized and disciplined
than some of his previous appearances before Congress. The annual speeches to Congress have served as markers of Clinton's ideological migration. In 1993, he announced that government must do more and unveiled a raft of big-government proposals, including a $30 billion "stimulus package" that was vastly more expensive than any single proposal he offered last night.
Also as part of his pitch for more low-tax empowerment zones in urban areas, Clinton made reference to his newfound commitment to rescue the troubled District of Columbia. He said, "Together, we must pledge tonight that we will use this empowerment approach, including private-sector tax incentives to renew our capital city, so that Washington is a great place to work and live, and is once again the proud face America shows to the world"
State of the Union Address
Essay
President Clinton has declared that "the enemy of our time is inaction," pledging to forge bipartisan agreements on a balanced budget and campaign finance reform within months, and to lead a "national crusade" to improve education by the turn of the century. Education, Clinton vowed, would be his "number-one priority for the next four years," and he devoted the longest portion of his address to this. He appealed for "national standards" to improve
student performance and pledged to promote such standards with voluntary tests prepared by the federal government.
Most of the ideas Clinton presented last night first appeared as poll-tested proposals in his reelection campaign last fall: expanding the 1993 "Family and Medical Leave Act" to include time off from work for parent-teacher conferences; school curfews; and tax credits and deductions to subsidize college education. But he presented these ideas using more encompassing and urgent language than before.
"We face no imminent threat, but we do have an enemy: The enemy of our time is inaction," Clinton declared at the start of his speech. He finished, as he did in last month's address, by invoking the symbolism that the nation is about to pass into a new millennium. "We don't have a moment to waste," he said. "Tomorrow, there will be just over 1,000 days until the year 2000. . . . One thousand days to work together."
The speech proved shorter than predicted and far more organized and disciplined
than some of his previous appearances before Congress. The annual speeches to Congress have served as markers of Clinton's ideological migration. In 1993, he announced that government must do more and unveiled a raft of big-government proposals, including a $30 billion "stimulus package" that was vastly more expensive than any single proposal he offered last night.
Also as part of his pitch for more low-tax empowerment zones in urban areas, Clinton made reference to his newfound commitment to rescue the troubled District of Columbia. He said, "Together, we must pledge tonight that we will use this empowerment approach, including private-sector tax incentives to renew our capital city, so that Washington is a great place to work and live, and is once again the proud face America shows to the world"
Rudolph Diesel
Rudolph Christian Karl Diesel
Rudolph Diesel was born on March 18, 1858 in Paris. On September 4, 1870 Rudolph's family moved to England. In late November they decided it would be better for Rudolph to continue his schooling in Germany so he moved there on his own and stayed with a young professor. The problems Rudolph was trying to solve were the noise, size and unreliability of the steam engine. he wanted to create something that superheated ammonia gas could take the place of steam in a steam engine. He wanted to enable much higher compression pressures to be used than was able with conventional steam engines. In this way he could make greater use of heat energy. Rudolph was 32 when he finally accomplished his goal of creating the first ever Diesel Engine.
To create the Diesel engine which made Rudolph famous he had to take the original steam engine and give it exhaust valves water cooling for the cylinder head and barrel and a compressed air fuel-injection system to ensure that the liquid fuel was forced into the combustion space with sufficient pressure to overcome the air in the cylinder. This basic idea of how to go about creating the engine was modified and improved many times before finally prefected in 1896. To do this Rudolph had to have a great understanding of Thermodynamics. He had to know basic principles of engines and how they work. Rudolph got help from many people. Some of the people that helped him are Machine-fabric Augsburg, Gasmotoren-Fabric Deutz and Mannesmann-Werke. It took them six years to finish the Diesel Engine.
It was important because it gave a new and easier way of using engines. It gave a way for large vehicles to transport goods safely. It is easier to make than the steam engine. All we did was benefit from the invention. If Rudolph had not invented the diesel engine my life would be quite different, for example there would not big trucks for delivering mass amounts of goods. It would be more complicated for stores and other companies to get goods. It also supplies jobs for many people.
Rudolph Diesel was born on March 18, 1858 in Paris. On September 4, 1870 Rudolph's family moved to England. In late November they decided it would be better for Rudolph to continue his schooling in Germany so he moved there on his own and stayed with a young professor. The problems Rudolph was trying to solve were the noise, size and unreliability of the steam engine. he wanted to create something that superheated ammonia gas could take the place of steam in a steam engine. He wanted to enable much higher compression pressures to be used than was able with conventional steam engines. In this way he could make greater use of heat energy. Rudolph was 32 when he finally accomplished his goal of creating the first ever Diesel Engine.
To create the Diesel engine which made Rudolph famous he had to take the original steam engine and give it exhaust valves water cooling for the cylinder head and barrel and a compressed air fuel-injection system to ensure that the liquid fuel was forced into the combustion space with sufficient pressure to overcome the air in the cylinder. This basic idea of how to go about creating the engine was modified and improved many times before finally prefected in 1896. To do this Rudolph had to have a great understanding of Thermodynamics. He had to know basic principles of engines and how they work. Rudolph got help from many people. Some of the people that helped him are Machine-fabric Augsburg, Gasmotoren-Fabric Deutz and Mannesmann-Werke. It took them six years to finish the Diesel Engine.
It was important because it gave a new and easier way of using engines. It gave a way for large vehicles to transport goods safely. It is easier to make than the steam engine. All we did was benefit from the invention. If Rudolph had not invented the diesel engine my life would be quite different, for example there would not big trucks for delivering mass amounts of goods. It would be more complicated for stores and other companies to get goods. It also supplies jobs for many people.
Projected Profits
Met North Energy Corporation
4 Year Net Profit Projections
The current budget figures for the four year period 1996 - 1999 show a steady decrease in profits eventually resulting in a loss during the fourth year. The graph shows the decrease in net profit while gross profit remains virtually static and expenses increase. After an initial loss during the first year the figures indicate a healthy profit at the end of the period.
The figures in this graph from the spreadsheet clearly show the long term benefits gained by the additional $50,000 when it is added to the 1996 advertising budget.
Despite a loss of $10,000 in the first year the projected profit for the 4 year period is $160,500.
The results of the spreadsheet showing both budget options can be reduced to just one simple graph. This supported by market research would convince management as to which option to choose.
Met North Energy Corporation
Net Profit Projections
Year 1996 1997 1998 1999
Sales $450,000 $455,000 $455,000 $460,000
Projected Sales $450,000 $523,250 $523,250 $529,000
Cost of Goods Sold $180,000 $185,000 $180,000 $185,000
Projected Cost $180,000 $203,500 $198,000 $203,500
Gross Profit $270,000 $270,000 $275,000 $275,000
Projected Gross Profit $270,000 $319,750 $325,250 $325,500
Less Expenses:
Salaries $80,000 $90,000 $100,000 $110,000
Advertising $50,000 $50,000 $50,000 $50,000
Increase in Advertising / 1996 $100,000 $50,000 $50,000 $50,000
Interest $60,000 $60,000 $60,000 $60,000
Depreciation $40,000 $50,000 $55,000 $65,000
Total Expenses $230,000 $250,000 $265,000 $285,000
Projected Expenses $280,000 $250,000 $265,000 $285,000
Net Profit $40,000 $20,000 $10,000 -$10,000
Projected Net Profit -$10,000 $69,750 $60,250 $40,500
Increase in profit $160,500
4 Year Net Profit Projections
The current budget figures for the four year period 1996 - 1999 show a steady decrease in profits eventually resulting in a loss during the fourth year. The graph shows the decrease in net profit while gross profit remains virtually static and expenses increase. After an initial loss during the first year the figures indicate a healthy profit at the end of the period.
The figures in this graph from the spreadsheet clearly show the long term benefits gained by the additional $50,000 when it is added to the 1996 advertising budget.
Despite a loss of $10,000 in the first year the projected profit for the 4 year period is $160,500.
The results of the spreadsheet showing both budget options can be reduced to just one simple graph. This supported by market research would convince management as to which option to choose.
Met North Energy Corporation
Net Profit Projections
Year 1996 1997 1998 1999
Sales $450,000 $455,000 $455,000 $460,000
Projected Sales $450,000 $523,250 $523,250 $529,000
Cost of Goods Sold $180,000 $185,000 $180,000 $185,000
Projected Cost $180,000 $203,500 $198,000 $203,500
Gross Profit $270,000 $270,000 $275,000 $275,000
Projected Gross Profit $270,000 $319,750 $325,250 $325,500
Less Expenses:
Salaries $80,000 $90,000 $100,000 $110,000
Advertising $50,000 $50,000 $50,000 $50,000
Increase in Advertising / 1996 $100,000 $50,000 $50,000 $50,000
Interest $60,000 $60,000 $60,000 $60,000
Depreciation $40,000 $50,000 $55,000 $65,000
Total Expenses $230,000 $250,000 $265,000 $285,000
Projected Expenses $280,000 $250,000 $265,000 $285,000
Net Profit $40,000 $20,000 $10,000 -$10,000
Projected Net Profit -$10,000 $69,750 $60,250 $40,500
Increase in profit $160,500
Oligopoly Markets in Australia
There are four market structures in our economy today : Perfect competition, monopolistic competition, oligopolies and monopolies. This essay shall describe the oligopoly market.
The definition of an oligopoly states that in an industry, a small number of firms dominate the market. There are a low number of firms in the industry, becasue and adding to the barriers to entry. The barriers of entry to an oligopolistc market include the financial resources needed to enter and such regulations from the government or patents.
In this market, there is a high degree of differentiated products, and so with all of the above factors combined in this market, the competition is of sales, not of price. There is also a factor of concern from the firms in an oligopolistic market - where the actions of one firm will subsequently effect the other firms in the industry. This results in each oligopolist watching its competitors closely, and is a method of competition between the firms, other than by price wars.
The Kinked Demand Curve, is the economical graph that shows why oligopolists tend to adopt a common price -to achieve the greatest price and output.
The Hilmer committe, estabilished 1993, is a government body who acts in the interests of recommendations of National Competition policies.
In 1995, the Trade Practises Act (T.P.A.) was introduced. The T.P.A. sets out the general responsibilities of sellers, such as the firms of oligopolies, and out laws actions that may be unfair to the consumers. This includes misleading advertising, market sharing and collusion. Collusion is where the firms of an industry meet a set, common price, or agree not to come into each other in the market area. These two above practises are ways of government intervention that regulate the conduct of oligopolies.
Australian examples of oligopolies include, Hoyts, Kelloggs, Bridgestone, Dunlop, Carlton United, Dulux and Coca Cola.
In conclusion,
* Oligopolists tend to adopt a similar price, for similar products,
* If price is to be raised, the firms find it best to do so together.
* Oligopolists avoid price wars.
* Sales competition, not price competition is their area.
The definition of an oligopoly states that in an industry, a small number of firms dominate the market. There are a low number of firms in the industry, becasue and adding to the barriers to entry. The barriers of entry to an oligopolistc market include the financial resources needed to enter and such regulations from the government or patents.
In this market, there is a high degree of differentiated products, and so with all of the above factors combined in this market, the competition is of sales, not of price. There is also a factor of concern from the firms in an oligopolistic market - where the actions of one firm will subsequently effect the other firms in the industry. This results in each oligopolist watching its competitors closely, and is a method of competition between the firms, other than by price wars.
The Kinked Demand Curve, is the economical graph that shows why oligopolists tend to adopt a common price -to achieve the greatest price and output.
The Hilmer committe, estabilished 1993, is a government body who acts in the interests of recommendations of National Competition policies.
In 1995, the Trade Practises Act (T.P.A.) was introduced. The T.P.A. sets out the general responsibilities of sellers, such as the firms of oligopolies, and out laws actions that may be unfair to the consumers. This includes misleading advertising, market sharing and collusion. Collusion is where the firms of an industry meet a set, common price, or agree not to come into each other in the market area. These two above practises are ways of government intervention that regulate the conduct of oligopolies.
Australian examples of oligopolies include, Hoyts, Kelloggs, Bridgestone, Dunlop, Carlton United, Dulux and Coca Cola.
In conclusion,
* Oligopolists tend to adopt a similar price, for similar products,
* If price is to be raised, the firms find it best to do so together.
* Oligopolists avoid price wars.
* Sales competition, not price competition is their area.
MoneyThe root of all evil
Money has screwed up society a lot. The times long ago were not focused around a green piece of paper that we have labeled as money. This piece of paper got an amount and then finally you have to have it. True, money buys you things. Things that you want. Things that you need. To me, money is just that; a thing. A thing to which we treat like a God. A piece of paper that we carry around and every now and then do something worth while with it. Money does three things. It brings on greed which in turn leads to unhappiness and then not caring for anything but cash.
Most Americans earn between $20,000-$50,000 a year. The people in this category seem to be somewhat content with their salary. Then you come to those that make less then this or those who make more. The individuals who make less always want more. If these people had more they could buy something a little bit nicer than they had before. Now those who have more money than the average person seem to want more also. If they get more, they can get better. The more they have the better they are. It's all a power trip.
The people who do not make too much are not too happy. They do not have that the nice new car that their neighbor has. They always want something that someone else has because they think it'll make them better.
Now, those who have money are unhappy a lot. They can never get enough. Everything that they have needs to be updated and when they get the item it's already old so they end up replacing it. The rich never get to sit back and enjoy what they have. They are to busy buying.
Soon the individuals who make hardly anything somehow find a way to make more. Their focus becomes a way to keep the money coming. The focus disappears from their activities and family. The wealthy loose interest in time spent with their families also. Many loose interest in their life. The main focus becomes what to spend the hundred grand on today and then how to make more to make up for what they just blew.
I am not stereo-typing all Americans. Some are content with their lives and the way they live. Many don't worry about the money situation. The ones who do though, stick out in our society.
If we could all appreciate the way life is, the fun, and the beauty I think America would be better. If people weren't power hungry maybe we'd have a lesser demand for money. Those few people who are money hungry and power hungry need to relax. Money can't buy you happiness. These few individuals need to understand that. Hopefully, in the near future money will become less important and we will begin to focus more on other things like enjoying our beautiful country.
Most Americans earn between $20,000-$50,000 a year. The people in this category seem to be somewhat content with their salary. Then you come to those that make less then this or those who make more. The individuals who make less always want more. If these people had more they could buy something a little bit nicer than they had before. Now those who have more money than the average person seem to want more also. If they get more, they can get better. The more they have the better they are. It's all a power trip.
The people who do not make too much are not too happy. They do not have that the nice new car that their neighbor has. They always want something that someone else has because they think it'll make them better.
Now, those who have money are unhappy a lot. They can never get enough. Everything that they have needs to be updated and when they get the item it's already old so they end up replacing it. The rich never get to sit back and enjoy what they have. They are to busy buying.
Soon the individuals who make hardly anything somehow find a way to make more. Their focus becomes a way to keep the money coming. The focus disappears from their activities and family. The wealthy loose interest in time spent with their families also. Many loose interest in their life. The main focus becomes what to spend the hundred grand on today and then how to make more to make up for what they just blew.
I am not stereo-typing all Americans. Some are content with their lives and the way they live. Many don't worry about the money situation. The ones who do though, stick out in our society.
If we could all appreciate the way life is, the fun, and the beauty I think America would be better. If people weren't power hungry maybe we'd have a lesser demand for money. Those few people who are money hungry and power hungry need to relax. Money can't buy you happiness. These few individuals need to understand that. Hopefully, in the near future money will become less important and we will begin to focus more on other things like enjoying our beautiful country.
Jusstice for All
When we are young, most of us are somewhat naive. We are inherently taught that good will always triumph over evil. A courthouse is the forum where evil should be dealt with. But, in reality, this is seldom the case.
The county courthouse looks like a typical courthouse. The courthouse itself looks like a place where justice is served. It is a Romanesque building, three stories high, with large pillars in the front. Ivy grows up one side of the building. The green grass in the courtyard is immaculately kept. The United States flag flies high above the building. Etched in stone on the front wall of the courthouse are the words" truth, justice, and liberty." This is a place where one should feel truly safe.
As I walk inside the cold and quiet building, a young woman is talking with the circuit court clerk. She is very innocent looking, with blond hair and a petite figure. She seems to be getting more upset by the second. The young lady finally erupts, yelling and almost crying. Her ex-husband has not paid her child support in a month, and she cannot buy diapers for her baby. The clerk tells her that nobody can do anything about it until he is six months behind in his support. After five more minutes of intense arguing, the young lady, now engulfed in tears, leaves. The clerk shrugs and turns around.
The building seems colder upstairs. There almost seems to be a dampness in the air. Down a corridor there are empty offices and paintings of important looking people. I recognize two of them as Washington and Jefferson. In between them is a copy of the constitution. As I read it I chuckle, and wonder if this government is really what they had in mind.
Farther down the hall I hear voices. The general court is in session. Inside the courtroom, a scruffy-looking man is in front of the judge. He has been charged with public intoxication and resisting arrest. He does not seem nervous; he has probably done this before. I assume he will be put in jail for a little while, at the least. The judge tells the man that he does not want to see him in court again. The man assures the judge that he will not be back. With the bang of a gavel, the judge gives him a five dollar fine, plus court costs. The man stumbles out of the courtroom already looking half drunk again.
As I walk out of the courtroom, the courthouse seems colder than ever. This is not a place where truth, justice, and liberty prevail. It is a place of tragedy. A place where innocent people suffer because of the system, and where guilty people walk free because of it.
The county courthouse looks like a typical courthouse. The courthouse itself looks like a place where justice is served. It is a Romanesque building, three stories high, with large pillars in the front. Ivy grows up one side of the building. The green grass in the courtyard is immaculately kept. The United States flag flies high above the building. Etched in stone on the front wall of the courthouse are the words" truth, justice, and liberty." This is a place where one should feel truly safe.
As I walk inside the cold and quiet building, a young woman is talking with the circuit court clerk. She is very innocent looking, with blond hair and a petite figure. She seems to be getting more upset by the second. The young lady finally erupts, yelling and almost crying. Her ex-husband has not paid her child support in a month, and she cannot buy diapers for her baby. The clerk tells her that nobody can do anything about it until he is six months behind in his support. After five more minutes of intense arguing, the young lady, now engulfed in tears, leaves. The clerk shrugs and turns around.
The building seems colder upstairs. There almost seems to be a dampness in the air. Down a corridor there are empty offices and paintings of important looking people. I recognize two of them as Washington and Jefferson. In between them is a copy of the constitution. As I read it I chuckle, and wonder if this government is really what they had in mind.
Farther down the hall I hear voices. The general court is in session. Inside the courtroom, a scruffy-looking man is in front of the judge. He has been charged with public intoxication and resisting arrest. He does not seem nervous; he has probably done this before. I assume he will be put in jail for a little while, at the least. The judge tells the man that he does not want to see him in court again. The man assures the judge that he will not be back. With the bang of a gavel, the judge gives him a five dollar fine, plus court costs. The man stumbles out of the courtroom already looking half drunk again.
As I walk out of the courtroom, the courthouse seems colder than ever. This is not a place where truth, justice, and liberty prevail. It is a place of tragedy. A place where innocent people suffer because of the system, and where guilty people walk free because of it.
GDP As a Measure of the Economy 2
GDP As a Measure of the Economy
The GDP is not a sufficient gauge of how the nation's economy is doing. The GDP is a sum of the monetary value of what has been produced in the nation in the past year. The formula for calculating the GDP ignores a large percentage of the activities that transpire in the nation's economy. The formula ignores several things as work done in the home and activities in the underground economy. In general, the GDP includes several items that in reality do not indicate the nation's economic level while excluding a large proportion of the activities of the nation.
The GDP does not include several things that greatly affect the nation's economic standings. The formula does not consider these things simply because they cannot be measured with any accuracy. The work done in the home affects the welfare of the economy because it takes time to care for a house, time that an individual could be working. So in essence, an individual pays themselves to for housework. Also, the underground economy encompasses a considerable amount of the transactions in the economy. This underground economy consists of illicit transactions and the legal ones that cannot be traced. GDP does not include the ecological damage rendered every day by humanity. The pollution caused by everyday life such as trash and the pollution caused by factories and such all damper the economic standings of a nation. While several immeasurable items are left out of the calculation of GDP, a few things are included that do not necessarily need top be. When a disaster strikes a community, the costs of rebuilding are counted in the GDP. The should be counted because it causes work for some but it also is hurting others.
In summation, GDP is not a competent ranking of the nation's economic standings. In the determine of GDP, there are too many items left out of the formula and one too many to give a accurate description of the economy's well-being.
The GDP is not a sufficient gauge of how the nation's economy is doing. The GDP is a sum of the monetary value of what has been produced in the nation in the past year. The formula for calculating the GDP ignores a large percentage of the activities that transpire in the nation's economy. The formula ignores several things as work done in the home and activities in the underground economy. In general, the GDP includes several items that in reality do not indicate the nation's economic level while excluding a large proportion of the activities of the nation.
The GDP does not include several things that greatly affect the nation's economic standings. The formula does not consider these things simply because they cannot be measured with any accuracy. The work done in the home affects the welfare of the economy because it takes time to care for a house, time that an individual could be working. So in essence, an individual pays themselves to for housework. Also, the underground economy encompasses a considerable amount of the transactions in the economy. This underground economy consists of illicit transactions and the legal ones that cannot be traced. GDP does not include the ecological damage rendered every day by humanity. The pollution caused by everyday life such as trash and the pollution caused by factories and such all damper the economic standings of a nation. While several immeasurable items are left out of the calculation of GDP, a few things are included that do not necessarily need top be. When a disaster strikes a community, the costs of rebuilding are counted in the GDP. The should be counted because it causes work for some but it also is hurting others.
In summation, GDP is not a competent ranking of the nation's economic standings. In the determine of GDP, there are too many items left out of the formula and one too many to give a accurate description of the economy's well-being.
Game Theory 2
Game Theory
(Strategic Thinking in Everyday Life)
Have you ever been faced with having to live with a decision you made knowing that had you taken the time to analyze the outcomes you may have made a more intelligible choice? Most likely the answer to that question was "yes". After all that is more - or - less is what life is about, a series of choices and the outcomes we are faced to live with as a result of our decisions. Well your probably asking yourself "What does this obvious statement have to do with me?". I'll begin by telling you it has everything to do with you and everything to do with any situation you may confront from this day forward. After - all life is but a game and it is our goal to win. The fundamentals of the "Game Theory will provide us with the basic tools we need to succeed at this game.
What is Game Theory? Simply put, it is the study of rational behavior in situations requiring interdependence. Wow! That seems like a pretty heavy statement. Actually it is pretty straight - forward. What is meant by "rational behavior or interdependance?" Rational behavior in game theory is the assumption that moral critique aside, the players in the game will act in a way which provides them with the greatest benefits.. Interdependence is the idea that what one player does will directly affect the other and vice -versa. By players I am talking about any two interdependant variables, whether they be people, countries, animals etc. Game theorist take apart a situation involving two players and systematically analyze their objectives and their potential outcomes. In doing so they are able to create models which replicate the basic motives each player has and diagram the outcomes.. Game theory is something that to some extent all of us have experience in. Dealing with spouse, co-workers, business partners, car sales people all involve some sort of relationship of give and take. So you see, we are not immune to the concepts of game theory. The theory requires us to understand and practice the art of strategy, and strategic thinking. Sounds like something we use in chess? Well you are absolutely right, but these same concepts are used in everday decision making.
(Strategic Thinking in Everyday Life)
Have you ever been faced with having to live with a decision you made knowing that had you taken the time to analyze the outcomes you may have made a more intelligible choice? Most likely the answer to that question was "yes". After all that is more - or - less is what life is about, a series of choices and the outcomes we are faced to live with as a result of our decisions. Well your probably asking yourself "What does this obvious statement have to do with me?". I'll begin by telling you it has everything to do with you and everything to do with any situation you may confront from this day forward. After - all life is but a game and it is our goal to win. The fundamentals of the "Game Theory will provide us with the basic tools we need to succeed at this game.
What is Game Theory? Simply put, it is the study of rational behavior in situations requiring interdependence. Wow! That seems like a pretty heavy statement. Actually it is pretty straight - forward. What is meant by "rational behavior or interdependance?" Rational behavior in game theory is the assumption that moral critique aside, the players in the game will act in a way which provides them with the greatest benefits.. Interdependence is the idea that what one player does will directly affect the other and vice -versa. By players I am talking about any two interdependant variables, whether they be people, countries, animals etc. Game theorist take apart a situation involving two players and systematically analyze their objectives and their potential outcomes. In doing so they are able to create models which replicate the basic motives each player has and diagram the outcomes.. Game theory is something that to some extent all of us have experience in. Dealing with spouse, co-workers, business partners, car sales people all involve some sort of relationship of give and take. So you see, we are not immune to the concepts of game theory. The theory requires us to understand and practice the art of strategy, and strategic thinking. Sounds like something we use in chess? Well you are absolutely right, but these same concepts are used in everday decision making.
French Revolution 2
French Revolution
There were many factors that contributed to the French Revolution. First of all was the greatest percent of the population, the commoners, had the least amount of power and land. This laid the foundation for social unrest which is necessary for a revolution. Second, the French economy was very weak due to France's involvement in the American Revolution. In addition to the economic problems that the American Revolution caused, it also put Enlightenment ideas into the minds of the French people. Last, weak leadership was provided under Louis XVI. He called the Estates General into session to raise taxes to pay debts incurred due to the American Revolution. Once in session, the Third Estate, the commoners, demanded a representative National Assembly and a Constitution. When Louis XVI denied their request, they sat on the tennis court and swore not to leave until their demands were met. This is known as the "Tennis Court Oath." This stalemate was broken by the storming of the Bastille (a debtor's prison) on July 14, 1789. Louis XVI agreed to their demands.
This revolution resulted in the end of the old paradigm and the beginning of the Enlightenment paradigm. The Declaration of the Rights of Man and the Constitution of 1791 were written. Some of these changes include freedom of speech , due process under law, equality under law. It also enabled the creation of a laissez-fairre economic policy, with a free market and free trade.
I believe that this revolution was inevitable due to the conditions that the majority of the population was living under. It will also have a lasting impact because the Constitution will protect these rights.
There were many factors that contributed to the French Revolution. First of all was the greatest percent of the population, the commoners, had the least amount of power and land. This laid the foundation for social unrest which is necessary for a revolution. Second, the French economy was very weak due to France's involvement in the American Revolution. In addition to the economic problems that the American Revolution caused, it also put Enlightenment ideas into the minds of the French people. Last, weak leadership was provided under Louis XVI. He called the Estates General into session to raise taxes to pay debts incurred due to the American Revolution. Once in session, the Third Estate, the commoners, demanded a representative National Assembly and a Constitution. When Louis XVI denied their request, they sat on the tennis court and swore not to leave until their demands were met. This is known as the "Tennis Court Oath." This stalemate was broken by the storming of the Bastille (a debtor's prison) on July 14, 1789. Louis XVI agreed to their demands.
This revolution resulted in the end of the old paradigm and the beginning of the Enlightenment paradigm. The Declaration of the Rights of Man and the Constitution of 1791 were written. Some of these changes include freedom of speech , due process under law, equality under law. It also enabled the creation of a laissez-fairre economic policy, with a free market and free trade.
I believe that this revolution was inevitable due to the conditions that the majority of the population was living under. It will also have a lasting impact because the Constitution will protect these rights.
Finance
1)
Arithmetic mean Standard Deviation
1. Intermediate T-Bond 2.15592593 7.08417535
2. T-bond 2.74185185 12.7163729
3. EAFE Index 7.49074074 23.4421382
4. S&P 500 5.31518519 16.8600115
5. Small Stock Index 8.01444444 24.8112222
2) Payoff per $1.00 Invested
1. Intermediate T-bond $10.05447301
2. T-bond $10.47833304
3. EAFE Index $23.11274502
4. S&P Index $15.0826532
5. Small Stock Index $22.6971407
The EAFE Index would have had the biggest payoff if $1.00 was invested.
3) Payoff Inflation Increase in purchasing power
S&P : 15.08265 / 4.324340574 3.49 increase from holding S&P.
1-month T-bill: 6.146689 / 4.324340574 1.42 increase from holding T-bill.
4) Reward to variability
1. Intermediate T-bond 0.30433
2. T-bond 0.215616
3. EAFE Index 0.319542
4. S&P Index 0.315254
5. Small Stock Index 0.323017
The small stock index gives us the best tradeoff during the 27 year period with a reward to variability of 0.323017, the highest of all of the assets in this sample.
5) Arithmetic Average Std. Dev. Reward to Var.
Passive International Portfolio : 4.976556 12.87484 0.386533
The reward to variability is higher for this portfolio than any other portfolios we calculated thus far.
6)
Portfolio of 40% Long-term Bonds and 60% S&P 500 :
Arithmetic Average : 4.285851852
Standard deviation : 13.5640429
Reward to Var. : 0.315971564
The Reward to variability ratio for the passive international portfolio exceeds that of the portfolio of 40% Long-term Bonds and 60% S&P 500 Index.
8) The estimated beta for Chrysler Corporation was 1.70288964 for the period 1987 - 1990. For a portfolio of Utility stocks for the same time period, the beta was 0.62188145. These betas were derives from using the S&P excess return index.
Arithmetic mean Standard Deviation
1. Intermediate T-Bond 2.15592593 7.08417535
2. T-bond 2.74185185 12.7163729
3. EAFE Index 7.49074074 23.4421382
4. S&P 500 5.31518519 16.8600115
5. Small Stock Index 8.01444444 24.8112222
2) Payoff per $1.00 Invested
1. Intermediate T-bond $10.05447301
2. T-bond $10.47833304
3. EAFE Index $23.11274502
4. S&P Index $15.0826532
5. Small Stock Index $22.6971407
The EAFE Index would have had the biggest payoff if $1.00 was invested.
3) Payoff Inflation Increase in purchasing power
S&P : 15.08265 / 4.324340574 3.49 increase from holding S&P.
1-month T-bill: 6.146689 / 4.324340574 1.42 increase from holding T-bill.
4) Reward to variability
1. Intermediate T-bond 0.30433
2. T-bond 0.215616
3. EAFE Index 0.319542
4. S&P Index 0.315254
5. Small Stock Index 0.323017
The small stock index gives us the best tradeoff during the 27 year period with a reward to variability of 0.323017, the highest of all of the assets in this sample.
5) Arithmetic Average Std. Dev. Reward to Var.
Passive International Portfolio : 4.976556 12.87484 0.386533
The reward to variability is higher for this portfolio than any other portfolios we calculated thus far.
6)
Portfolio of 40% Long-term Bonds and 60% S&P 500 :
Arithmetic Average : 4.285851852
Standard deviation : 13.5640429
Reward to Var. : 0.315971564
The Reward to variability ratio for the passive international portfolio exceeds that of the portfolio of 40% Long-term Bonds and 60% S&P 500 Index.
8) The estimated beta for Chrysler Corporation was 1.70288964 for the period 1987 - 1990. For a portfolio of Utility stocks for the same time period, the beta was 0.62188145. These betas were derives from using the S&P excess return index.
Essay 1
IBM Software Base
This folder contains file bases containing Shareware Software. Shareware files are public files for public use. Many Shareware files ask for small contributions to the author for use of the file, users can choose to follow any instructions contained in the files themsleves, although users are under no obligation.
With that out of the way, users can download any files in any of these bases free of charge. Users can also upload files to the Firstclass System. FIles that are uploaded must be non-copyrighted Shareware or Freeware. FIles that are uploaded will be reviewed and approved for download by other useres only if they pass the following rules:
1. Shareware or Freeware
2. Non-copyrighted
3. Appropriate for a school atmosphere
* The uploading of copyrighted software will not be tolerated and be deleted immediately.
Downloading & Uploading
Downloading and Uploading on FirstClass in very simple and easy to learn. You can Download and Upload from the system at Vanguard or using a modem from your home.
To download a file first find the file you want by looking through the various file descriptions. Next place an IBM formated disk in the drive and doubleclick on the attachment file. The computer will then download the file to you disk. To download a file from home you simply call using a modem and doubleclick on the attachment file. The FIrstClass system here at Vanguard will then automaticlly send the file to your computer. Its that easy!
To upload a file simply compose a messege to "IBM SOFTWARE." Next write a file description and then attach the file you wan tto upload by goign to the file menu, and select attach file. Next select the fiel you want to upload. When the transfer is complete simply close the messege like regualr E-MAIL and the fiel will be submitted for approval.
This folder contains file bases containing Shareware Software. Shareware files are public files for public use. Many Shareware files ask for small contributions to the author for use of the file, users can choose to follow any instructions contained in the files themsleves, although users are under no obligation.
With that out of the way, users can download any files in any of these bases free of charge. Users can also upload files to the Firstclass System. FIles that are uploaded must be non-copyrighted Shareware or Freeware. FIles that are uploaded will be reviewed and approved for download by other useres only if they pass the following rules:
1. Shareware or Freeware
2. Non-copyrighted
3. Appropriate for a school atmosphere
* The uploading of copyrighted software will not be tolerated and be deleted immediately.
Downloading & Uploading
Downloading and Uploading on FirstClass in very simple and easy to learn. You can Download and Upload from the system at Vanguard or using a modem from your home.
To download a file first find the file you want by looking through the various file descriptions. Next place an IBM formated disk in the drive and doubleclick on the attachment file. The computer will then download the file to you disk. To download a file from home you simply call using a modem and doubleclick on the attachment file. The FIrstClass system here at Vanguard will then automaticlly send the file to your computer. Its that easy!
To upload a file simply compose a messege to "IBM SOFTWARE." Next write a file description and then attach the file you wan tto upload by goign to the file menu, and select attach file. Next select the fiel you want to upload. When the transfer is complete simply close the messege like regualr E-MAIL and the fiel will be submitted for approval.
Computer Stores Arriving In Volume
Computer dealers are crowding shopping districts, and some analysts think the market is becoming saturated.
In Connecticut alone, the two major shopping districts, Buckland and
the Berlin Turnpike, for instance, shoppers can compare equipment and
costs at Nobody Beats the Wiz, Lechmere, Circut City, Staples, and Office
Max - all within minutes in one another.
Yet, computer retailers insist that there has been a need for more stores
- specifically their own - citing a nearly constant updating of equipment
and a growing emphasis on service. They also believe revenue potential
remains because computers are constanly changing and more people are
becoming curious about the Internet.
Still, many worry the market potential might be waning. Analysts believe
the market is very close to being saturated, if not already there. there
are only so many computers a person will buy, and only so many stores will
a customer visit.
In Connecticut alone, the two major shopping districts, Buckland and
the Berlin Turnpike, for instance, shoppers can compare equipment and
costs at Nobody Beats the Wiz, Lechmere, Circut City, Staples, and Office
Max - all within minutes in one another.
Yet, computer retailers insist that there has been a need for more stores
- specifically their own - citing a nearly constant updating of equipment
and a growing emphasis on service. They also believe revenue potential
remains because computers are constanly changing and more people are
becoming curious about the Internet.
Still, many worry the market potential might be waning. Analysts believe
the market is very close to being saturated, if not already there. there
are only so many computers a person will buy, and only so many stores will
a customer visit.
Business communication 1st essay
Have you ever find yourself wishing for more hours in a day? Or have you ever felt like you were juggling with thousands of tasks that need to be done at one time? If you ever do, start thinking to manage your time from now on. Managing your time is very important because it will help you balance a professional life and gives you time to be creative. In this essay I will discuss the importance of effective time management skills for successful business communication, which will include some points like how you plan your time, how you can set your goals, have a balance in your work as well as in your life. However, this essay will also define the crisis time management that might happen when you have lack of planning, lack of self-discipline, which lead to stress. The aim of writing this essay is to recognise the importance of effective time management and be able to apply the skills to determine priorities, develop simple self-management techniques and manage others effectively.
Establishing goals is the first step in effective management. You need time to achieve goals, that is why you should organize your days so that you are spending your time on activities that will help you achieve your goals. You will find it easy to adapt with the situation when you using your time effectively and as it is will greater progress toward your goals. As you make progress in efforts to control time, you will want to set goals for the time you save, ( Mackenzie, 1990). Without goals, there is little or no meaning in work and life, and without meaning there can be only dissatisfaction and general unhappiness, (Glesson, 1994). A goal must be achievable if you can't reach you goal, you will only frustrate yourself and may give up and destroy your motivation. You can choose to succeed or choose to fail but having goals makes the difference.
People sometimes get confuse between goals and priorities. Priorities therefore are objectives that have been ranked in order of importance, (Webber, 1972). Whatever is on top is your number one priority. The next one down is the number two priority and so on. Often we seem to have many goals without taking the care to determine what is really important. When you are facing problems with priorities the best way is to have cards. It can be helpful for sorting priorities. This is one of the effective time management skills because you know how to put your first priority at the top and be more focus in it instead of doing all the tasks for example that will just cause you stress.
"Time management is not about time in the abstract but it is about what you can accomplish with time," (Mackenzie, 1990, p.25). What it means is that what you can do or produce with the time effectively. In order to get an effective time management, you have to make a good planning before you even do anything. Planning itself means thinking about what you are going to do and how you are going to accomplish it. You have got to really prepare for the future by making your own decisions. When you have all the planning on what you do before you do something, you won't have things mixed up. It is not enough simply to create a great plan but you must be able to implement it. Planning enables you to get clear pictures of what you are doing. Start with having list of things to do, daily planning, weekly planning or even a monthly planning. A good planning will result in a good time management and therefore will succeed in any ways.
Figure 1.1 Daily planning
Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6
7 8 9 10 11 12
13 14 15 16 17 18
19 20 21 22 23 24
25 26 27 28 29 30
As the table shown above, what most people have in the daily planning is goals for the day, for example, 1st, 2nd, 3rd task that you must get done. Also scheduled appointments, meeting, to do list or things that you don't want to forget, lower priority tasks you hope to get done. By having this daily planning you won't have to worry about things that you have to do.
Figure 1.2 6 monthly planning
January February March April May June
Whatever planning you are using whether it is daily or 6 monthly planning but the main purpose is as a reminder device to help you see the step clearly and to help to achieve as you complete each step.
If you have lack of planning and lack of self-discipline it will lead to crisis time management. There is no way that someone can be expected to continue to work at maximum productivity while experiencing negative stress, (Wenig, 1993, p.145). Managing time well can prevent much of the stress.
In conclusion, effective time management is what makes success possible. The real value of time management is that it enhances our lives in all dimensions, (Webber, 1972). What we gain from time management is not more time but a better life. When you learn to use effectively the time that is given to you, you can have more time with your family, avoid getting stressed out, improve your personal level of productivity and be more successful in achieving your goals.
REFERENCES
Gleeson, K. 1994. The Personal Efficiency Program. John Willey Inc, Canada.
Mackenzie, A. 1990, The Time Trap. Amacom, NewYork.
Webber, R. 1972. Time and management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
BIBLIOGRAPHY
Albrecth, K. 1979, Stress and the manager. Prentice Hall, Englewood Cliffs.
Gleeson, K. 1994, The personal Efficiency Program. John Willey and Son Inc.
Kotnour, T.J. 1993,Time management helps first-line maintenance supervisors handle pressures, Industrial Engineering, V.25, n.3, p.50(4).
Mackenzie, A. 1990, The Time Tap. AMACOM, New York (NSW).
Pettiford, H. 2001, Time's a Wastin!, Black Enterprise, v.31, i.11, p.322.
Taylor, Harold L. 1981, Making Time Work for You. Dell Publishing, New York.
Webber, R. 1972, Time and Management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
Williams, K. 2000, Tips on Effective Time Management, The Economist, v.12, p.278-300.
Yates, Jere E. 1979, Managing Stress. AMACOM. New York.
Establishing goals is the first step in effective management. You need time to achieve goals, that is why you should organize your days so that you are spending your time on activities that will help you achieve your goals. You will find it easy to adapt with the situation when you using your time effectively and as it is will greater progress toward your goals. As you make progress in efforts to control time, you will want to set goals for the time you save, ( Mackenzie, 1990). Without goals, there is little or no meaning in work and life, and without meaning there can be only dissatisfaction and general unhappiness, (Glesson, 1994). A goal must be achievable if you can't reach you goal, you will only frustrate yourself and may give up and destroy your motivation. You can choose to succeed or choose to fail but having goals makes the difference.
People sometimes get confuse between goals and priorities. Priorities therefore are objectives that have been ranked in order of importance, (Webber, 1972). Whatever is on top is your number one priority. The next one down is the number two priority and so on. Often we seem to have many goals without taking the care to determine what is really important. When you are facing problems with priorities the best way is to have cards. It can be helpful for sorting priorities. This is one of the effective time management skills because you know how to put your first priority at the top and be more focus in it instead of doing all the tasks for example that will just cause you stress.
"Time management is not about time in the abstract but it is about what you can accomplish with time," (Mackenzie, 1990, p.25). What it means is that what you can do or produce with the time effectively. In order to get an effective time management, you have to make a good planning before you even do anything. Planning itself means thinking about what you are going to do and how you are going to accomplish it. You have got to really prepare for the future by making your own decisions. When you have all the planning on what you do before you do something, you won't have things mixed up. It is not enough simply to create a great plan but you must be able to implement it. Planning enables you to get clear pictures of what you are doing. Start with having list of things to do, daily planning, weekly planning or even a monthly planning. A good planning will result in a good time management and therefore will succeed in any ways.
Figure 1.1 Daily planning
Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6
7 8 9 10 11 12
13 14 15 16 17 18
19 20 21 22 23 24
25 26 27 28 29 30
As the table shown above, what most people have in the daily planning is goals for the day, for example, 1st, 2nd, 3rd task that you must get done. Also scheduled appointments, meeting, to do list or things that you don't want to forget, lower priority tasks you hope to get done. By having this daily planning you won't have to worry about things that you have to do.
Figure 1.2 6 monthly planning
January February March April May June
Whatever planning you are using whether it is daily or 6 monthly planning but the main purpose is as a reminder device to help you see the step clearly and to help to achieve as you complete each step.
If you have lack of planning and lack of self-discipline it will lead to crisis time management. There is no way that someone can be expected to continue to work at maximum productivity while experiencing negative stress, (Wenig, 1993, p.145). Managing time well can prevent much of the stress.
In conclusion, effective time management is what makes success possible. The real value of time management is that it enhances our lives in all dimensions, (Webber, 1972). What we gain from time management is not more time but a better life. When you learn to use effectively the time that is given to you, you can have more time with your family, avoid getting stressed out, improve your personal level of productivity and be more successful in achieving your goals.
REFERENCES
Gleeson, K. 1994. The Personal Efficiency Program. John Willey Inc, Canada.
Mackenzie, A. 1990, The Time Trap. Amacom, NewYork.
Webber, R. 1972. Time and management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
BIBLIOGRAPHY
Albrecth, K. 1979, Stress and the manager. Prentice Hall, Englewood Cliffs.
Gleeson, K. 1994, The personal Efficiency Program. John Willey and Son Inc.
Kotnour, T.J. 1993,Time management helps first-line maintenance supervisors handle pressures, Industrial Engineering, V.25, n.3, p.50(4).
Mackenzie, A. 1990, The Time Tap. AMACOM, New York (NSW).
Pettiford, H. 2001, Time's a Wastin!, Black Enterprise, v.31, i.11, p.322.
Taylor, Harold L. 1981, Making Time Work for You. Dell Publishing, New York.
Webber, R. 1972, Time and Management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
Williams, K. 2000, Tips on Effective Time Management, The Economist, v.12, p.278-300.
Yates, Jere E. 1979, Managing Stress. AMACOM. New York.
Tuesday, January 1, 2013
Business Education
747
4/3/00 Argumentative Draft Formal Education Is the Key to Success The advancement of technology in the last decade has increased the demand for Americans to seek higher and formal education. No longer do we live in the age of manual labor, family owned & operated conveniences, but rather a computerized age. Thirty-years ago job seekers could find stable and secure work that would ensure stability and a prosperous future. Those white collar jobs could be obtained and secured by individuals lacking a formal and/or higher education. Today, blue collar jobs like fast food restaurants, warehouse labor, and/or janitorial services prefer and sometimes require some form of education. Employers have become more openly concerned about their employees ability to represent their companies. (Formal education is the key to empowerment, but it is not necessary in order to become successful in today's society.) Education has become a large importance and often the determining factor for competitive job seeker. More than half of Americans citizens seek some form of education at one time or another whether it be for job placement or advancement. Technology is always changing and requires employers to train and re-train its employees to keep then afloat. College students like myself have always been for warned that higher education is the key to ensure success in the career world and will be the only means of providing a competitive income to accustom societies changing trends. Not long ago, education could be used by employers to determine which potential employee was qualified for the job. Today applicants are equally equipped with resumes, one or more degrees, fluency of languages, and references. Only highest achieved in education distinguishes him or herself from the competing applicants. Education is extremely important for those hoping for success in the twenty-first century. Those without a formal are not completely exempt from success, but without some form of education it will prove to be a difficult climb. Education open doors for those with the desire to enter the corporate world. People without a formal education may find it extremely difficult to compete with those with degrees. Professions like doctors, and lawyers are solely limited to those who have obtained higher education and proven to be skillful. People without higher education can not meet the minimum requirements. Mechanics, janitors, secretaries, and administration may put more emphasis on skills rather than education. Persons having those skills may be more successful than those without. The author, Unger states that "more than 28% of all full-time workers without college degrees earn more than the average without college degrees earn more than the average workers with a bachelors degree from college" (17). This proves that it is not completely impossible for individuals without formal education to be successful. Author John Gatto describes schools as a "body of knowledge that equips students with all the ideas, skills, and attitudes necessary to help them lead happy and productive lives" (166). Not all knowledge is obtained through schooling. There are many people that may argure that higher education is simply a waste of money. Malcolm X argued that the "biggest troubles with college is there are too many distractions" (227). Higher education enables individuals to obtain power. With education people are able to make decisions about the choices of their lives instead of settling for what is made available to them. With an education, you can market yourself to different companies and have your choice of the litter. Without an education this is almost impossible. Those persons that lack a formal education limit their future career choices. As we move into a new millennium, it will become more important for everyone to receive some form of formal education. Citizens will no longer be able to obtain jobs based on experience alone. Almost every employer will require some form of education to ensure the life of its company. The knowledge that can only be obtained through higher education will prove to be vital in the twenty-first century. Everyday performance such as grocery shopping, mailing letters, or pumping gas will become so sophisticated that we will need to be computer literate to complete the task. Knowledge is power and the more you know the farther you will be able to go. It is only when we limit ourselves academically that we limit ourselves economically and socially.
4/3/00 Argumentative Draft Formal Education Is the Key to Success The advancement of technology in the last decade has increased the demand for Americans to seek higher and formal education. No longer do we live in the age of manual labor, family owned & operated conveniences, but rather a computerized age. Thirty-years ago job seekers could find stable and secure work that would ensure stability and a prosperous future. Those white collar jobs could be obtained and secured by individuals lacking a formal and/or higher education. Today, blue collar jobs like fast food restaurants, warehouse labor, and/or janitorial services prefer and sometimes require some form of education. Employers have become more openly concerned about their employees ability to represent their companies. (Formal education is the key to empowerment, but it is not necessary in order to become successful in today's society.) Education has become a large importance and often the determining factor for competitive job seeker. More than half of Americans citizens seek some form of education at one time or another whether it be for job placement or advancement. Technology is always changing and requires employers to train and re-train its employees to keep then afloat. College students like myself have always been for warned that higher education is the key to ensure success in the career world and will be the only means of providing a competitive income to accustom societies changing trends. Not long ago, education could be used by employers to determine which potential employee was qualified for the job. Today applicants are equally equipped with resumes, one or more degrees, fluency of languages, and references. Only highest achieved in education distinguishes him or herself from the competing applicants. Education is extremely important for those hoping for success in the twenty-first century. Those without a formal are not completely exempt from success, but without some form of education it will prove to be a difficult climb. Education open doors for those with the desire to enter the corporate world. People without a formal education may find it extremely difficult to compete with those with degrees. Professions like doctors, and lawyers are solely limited to those who have obtained higher education and proven to be skillful. People without higher education can not meet the minimum requirements. Mechanics, janitors, secretaries, and administration may put more emphasis on skills rather than education. Persons having those skills may be more successful than those without. The author, Unger states that "more than 28% of all full-time workers without college degrees earn more than the average without college degrees earn more than the average workers with a bachelors degree from college" (17). This proves that it is not completely impossible for individuals without formal education to be successful. Author John Gatto describes schools as a "body of knowledge that equips students with all the ideas, skills, and attitudes necessary to help them lead happy and productive lives" (166). Not all knowledge is obtained through schooling. There are many people that may argure that higher education is simply a waste of money. Malcolm X argued that the "biggest troubles with college is there are too many distractions" (227). Higher education enables individuals to obtain power. With education people are able to make decisions about the choices of their lives instead of settling for what is made available to them. With an education, you can market yourself to different companies and have your choice of the litter. Without an education this is almost impossible. Those persons that lack a formal education limit their future career choices. As we move into a new millennium, it will become more important for everyone to receive some form of formal education. Citizens will no longer be able to obtain jobs based on experience alone. Almost every employer will require some form of education to ensure the life of its company. The knowledge that can only be obtained through higher education will prove to be vital in the twenty-first century. Everyday performance such as grocery shopping, mailing letters, or pumping gas will become so sophisticated that we will need to be computer literate to complete the task. Knowledge is power and the more you know the farther you will be able to go. It is only when we limit ourselves academically that we limit ourselves economically and socially.
Business communication 1st essay
Have you ever find yourself wishing for more hours in a day? Or have you ever felt like you were juggling with thousands of tasks that need to be done at one time? If you ever do, start thinking to manage your time from now on. Managing your time is very important because it will help you balance a professional life and gives you time to be creative. In this essay I will discuss the importance of effective time management skills for successful business communication, which will include some points like how you plan your time, how you can set your goals, have a balance in your work as well as in your life. However, this essay will also define the crisis time management that might happen when you have lack of planning, lack of self-discipline, which lead to stress. The aim of writing this essay is to recognise the importance of effective time management and be able to apply the skills to determine priorities, develop simple self-management techniques and manage others effectively.
Establishing goals is the first step in effective management. You need time to achieve goals, that is why you should organize your days so that you are spending your time on activities that will help you achieve your goals. You will find it easy to adapt with the situation when you using your time effectively and as it is will greater progress toward your goals. As you make progress in efforts to control time, you will want to set goals for the time you save, ( Mackenzie, 1990). Without goals, there is little or no meaning in work and life, and without meaning there can be only dissatisfaction and general unhappiness, (Glesson, 1994). A goal must be achievable if you can't reach you goal, you will only frustrate yourself and may give up and destroy your motivation. You can choose to succeed or choose to fail but having goals makes the difference.
People sometimes get confuse between goals and priorities. Priorities therefore are objectives that have been ranked in order of importance, (Webber, 1972). Whatever is on top is your number one priority. The next one down is the number two priority and so on. Often we seem to have many goals without taking the care to determine what is really important. When you are facing problems with priorities the best way is to have cards. It can be helpful for sorting priorities. This is one of the effective time management skills because you know how to put your first priority at the top and be more focus in it instead of doing all the tasks for example that will just cause you stress.
"Time management is not about time in the abstract but it is about what you can accomplish with time," (Mackenzie, 1990, p.25). What it means is that what you can do or produce with the time effectively. In order to get an effective time management, you have to make a good planning before you even do anything. Planning itself means thinking about what you are going to do and how you are going to accomplish it. You have got to really prepare for the future by making your own decisions. When you have all the planning on what you do before you do something, you won't have things mixed up. It is not enough simply to create a great plan but you must be able to implement it. Planning enables you to get clear pictures of what you are doing. Start with having list of things to do, daily planning, weekly planning or even a monthly planning. A good planning will result in a good time management and therefore will succeed in any ways.
Figure 1.1 Daily planning
Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6
7 8 9 10 11 12
13 14 15 16 17 18
19 20 21 22 23 24
25 26 27 28 29 30
As the table shown above, what most people have in the daily planning is goals for the day, for example, 1st, 2nd, 3rd task that you must get done. Also scheduled appointments, meeting, to do list or things that you don't want to forget, lower priority tasks you hope to get done. By having this daily planning you won't have to worry about things that you have to do.
Figure 1.2 6 monthly planning
January February March April May June
Whatever planning you are using whether it is daily or 6 monthly planning but the main purpose is as a reminder device to help you see the step clearly and to help to achieve as you complete each step.
If you have lack of planning and lack of self-discipline it will lead to crisis time management. There is no way that someone can be expected to continue to work at maximum productivity while experiencing negative stress, (Wenig, 1993, p.145). Managing time well can prevent much of the stress.
In conclusion, effective time management is what makes success possible. The real value of time management is that it enhances our lives in all dimensions, (Webber, 1972). What we gain from time management is not more time but a better life. When you learn to use effectively the time that is given to you, you can have more time with your family, avoid getting stressed out, improve your personal level of productivity and be more successful in achieving your goals.
REFERENCES
Gleeson, K. 1994. The Personal Efficiency Program. John Willey Inc, Canada.
Mackenzie, A. 1990, The Time Trap. Amacom, NewYork.
Webber, R. 1972. Time and management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
BIBLIOGRAPHY
Albrecth, K. 1979, Stress and the manager. Prentice Hall, Englewood Cliffs.
Gleeson, K. 1994, The personal Efficiency Program. John Willey and Son Inc.
Kotnour, T.J. 1993,Time management helps first-line maintenance supervisors handle pressures, Industrial Engineering, V.25, n.3, p.50(4).
Mackenzie, A. 1990, The Time Tap. AMACOM, New York (NSW).
Pettiford, H. 2001, Time's a Wastin!, Black Enterprise, v.31, i.11, p.322.
Taylor, Harold L. 1981, Making Time Work for You. Dell Publishing, New York.
Webber, R. 1972, Time and Management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
Williams, K. 2000, Tips on Effective Time Management, The Economist, v.12, p.278-300.
Yates, Jere E. 1979, Managing Stress. AMACOM. New York.
Establishing goals is the first step in effective management. You need time to achieve goals, that is why you should organize your days so that you are spending your time on activities that will help you achieve your goals. You will find it easy to adapt with the situation when you using your time effectively and as it is will greater progress toward your goals. As you make progress in efforts to control time, you will want to set goals for the time you save, ( Mackenzie, 1990). Without goals, there is little or no meaning in work and life, and without meaning there can be only dissatisfaction and general unhappiness, (Glesson, 1994). A goal must be achievable if you can't reach you goal, you will only frustrate yourself and may give up and destroy your motivation. You can choose to succeed or choose to fail but having goals makes the difference.
People sometimes get confuse between goals and priorities. Priorities therefore are objectives that have been ranked in order of importance, (Webber, 1972). Whatever is on top is your number one priority. The next one down is the number two priority and so on. Often we seem to have many goals without taking the care to determine what is really important. When you are facing problems with priorities the best way is to have cards. It can be helpful for sorting priorities. This is one of the effective time management skills because you know how to put your first priority at the top and be more focus in it instead of doing all the tasks for example that will just cause you stress.
"Time management is not about time in the abstract but it is about what you can accomplish with time," (Mackenzie, 1990, p.25). What it means is that what you can do or produce with the time effectively. In order to get an effective time management, you have to make a good planning before you even do anything. Planning itself means thinking about what you are going to do and how you are going to accomplish it. You have got to really prepare for the future by making your own decisions. When you have all the planning on what you do before you do something, you won't have things mixed up. It is not enough simply to create a great plan but you must be able to implement it. Planning enables you to get clear pictures of what you are doing. Start with having list of things to do, daily planning, weekly planning or even a monthly planning. A good planning will result in a good time management and therefore will succeed in any ways.
Figure 1.1 Daily planning
Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6
7 8 9 10 11 12
13 14 15 16 17 18
19 20 21 22 23 24
25 26 27 28 29 30
As the table shown above, what most people have in the daily planning is goals for the day, for example, 1st, 2nd, 3rd task that you must get done. Also scheduled appointments, meeting, to do list or things that you don't want to forget, lower priority tasks you hope to get done. By having this daily planning you won't have to worry about things that you have to do.
Figure 1.2 6 monthly planning
January February March April May June
Whatever planning you are using whether it is daily or 6 monthly planning but the main purpose is as a reminder device to help you see the step clearly and to help to achieve as you complete each step.
If you have lack of planning and lack of self-discipline it will lead to crisis time management. There is no way that someone can be expected to continue to work at maximum productivity while experiencing negative stress, (Wenig, 1993, p.145). Managing time well can prevent much of the stress.
In conclusion, effective time management is what makes success possible. The real value of time management is that it enhances our lives in all dimensions, (Webber, 1972). What we gain from time management is not more time but a better life. When you learn to use effectively the time that is given to you, you can have more time with your family, avoid getting stressed out, improve your personal level of productivity and be more successful in achieving your goals.
REFERENCES
Gleeson, K. 1994. The Personal Efficiency Program. John Willey Inc, Canada.
Mackenzie, A. 1990, The Time Trap. Amacom, NewYork.
Webber, R. 1972. Time and management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
BIBLIOGRAPHY
Albrecth, K. 1979, Stress and the manager. Prentice Hall, Englewood Cliffs.
Gleeson, K. 1994, The personal Efficiency Program. John Willey and Son Inc.
Kotnour, T.J. 1993,Time management helps first-line maintenance supervisors handle pressures, Industrial Engineering, V.25, n.3, p.50(4).
Mackenzie, A. 1990, The Time Tap. AMACOM, New York (NSW).
Pettiford, H. 2001, Time's a Wastin!, Black Enterprise, v.31, i.11, p.322.
Taylor, Harold L. 1981, Making Time Work for You. Dell Publishing, New York.
Webber, R. 1972, Time and Management. Van Nostrand Reinhold Company, Melbourne.
Wenig, L. 1993, The A to Z of Time Management. Australia Print Group, Sydney (NSW).
Williams, K. 2000, Tips on Effective Time Management, The Economist, v.12, p.278-300.
Yates, Jere E. 1979, Managing Stress. AMACOM. New York.
Burger King and Its Advertising Campaigns
Burger King and Its Advertising Campaigns
Burger King is a reliable burger company which has had its ups and downs.
In 1974, it came out with a slogan of "Have it your way" and at this time it
also had a 4 % market share. Burger King's idea was to have the customer have
their burger done their way rather than a standard burger. In the early 80's
Burger King was trying to keep sales growing so they had to keep changing their
advertising. In 1982 "Battle of the burgers" and "Aren't you hungry for a Burger
king now?" were the slogans used. In 1983 "Broiling vs. frying" and 1985 "The
big switch". All these ads throughout the years helped increase market shares
from 7.6% to 8.3% from 1983 to 1985. "Search for herb" was a slogan used by BK
about a person that has never tasted a whopper burger, this campaign was
supposed to increase market share by 10% but in reality only increased it by 1%
it was a disaster. In 1986-1987 "this is a burger king town" and "best food for
fast times" brought a lot of attention to the company. In 1988 "We do it like
you do it" was used often but a year later they came out with two new slogans
which confused the customer. In 1989 "Sometimes you gotta break the rules" and
"BK tee vee" with MTV and Dan Cortese with "I love this place". This was another
huge setback for BK because people on the go and parents found this ad loud and
irritating. BK at this time has failed to establish a solid image that would
differentiate it from its competitors. Ads if anything only confused consumers
as to what advantages BK offered. In 1993 it had a market share of 6.1% were
McDonalds had 15.6% and BK's sales were growing slower than its rivals.
Failed advertising campaigns weren't the only problem's, they also had
internal problems. Management lacked focus and direction and has struggled with
marketing mix decisions. Franchises became confused and angered, service was
slow and food preparation wasn't consistent. Burger King lost its core product-
flame broiled burgers, made the way the customer wanted them. Another thing that
hurt them was the fact they didn't lower prices to keep competing with their
competitors this led to a below average sales growth. Many in store promotion
also failed. In 1993 a new CEO was introduced, this allowed for huge turnaround
and in fact it did. He helped please the franchises and responded to their
problems and listened to their recommendations. Then later he lowered prices and
hired a new advertising agency.
1. In reading this case analysis I figured Burger King to advertise the Whopper,
but throughout the past years they didn't do this. I figure the whopper or the
flame broiled ads would have been more productive and probably would have
resulted in greater sales margin. I also feel that the ads should have
distinguished themselves from what other ads by letting the people know that
burger king wasn't just another standardized burger. Throughout the years, BK
tried to establish the market by becoming someone they weren't. I feel the ads
used by BK should have been simple and to the point. This would have caused less
confusion and more honesty with the customer, this is because you don't want to
advertise a pizza or a taco if your selling burgers. Other objectives BK wanted
was to target teens with the MTV approach. This also failed because people found
it loud and annoying. Then they tried a sit in type of restaurant, which also
failed because people want a fast food low price meal not a high priced, sit
down meal. Advertising is any paid form of non personal presentation and
promotion of ideas, goods or services by an identified sponsor. Advertising is a
good way to inform and persuade the customer. Advertising objectives are based
on past decisions about the target market, positioning and target mix. There are
five steps to making a major advertising decision these steps are as follows:
Objective setting, Budget decisions, Message decision or media decision, and
campaign evaluation. Along with these steps BK should also remember to inform,
persuade, and to remind. These three are a must that a company should aim at,
for example: in informing BK used the ad "Broiling vs. frying" in 1983 letting
the consumer know that their burgers were broiled and not fried. In persuading,
I think BK over did it and that is why I feel that they didn't retain market
share. They tried to be someone they weren't with slogans like "search for herb"
in 85 and many others like "BK Tee Vee" trying to persuade the younger
generation and "Sometimes you gotta break the rules". These slogans and more
tried to persuade the consumer. In reminding their customers BK has done a good
job. They've at least expanded nationally and internationally and always have
commercials everywhere with a juicy whopper on the screen, reminding the viewer
that BK is the only place a whopper is made.
2. BK's past advertising and corporate strategy failed because BK did the two
biggest mistakes they could have done. First they didn't listen to the customer
and second they didn't advertise their main product a maintain a target market.
In not accomplishing any of these two strategies in the past it allowed their
rivals to get a lead on them. In 1993 McDonalds, for example, had a market share
of 15.6 percent compared to BK's 6.1 percent. This is because they established
their market and didn't try to invent new strategies. Burger King started to
lose market shares when it first came out with the search for herb, and then it
declined again when it tried to target the teenage generation rather than
staying loyal to the general customer. It tried targeting the younger generation
through MTV. This became insulting and irritating to the old customers and to
the quiet more relaxed people and even all the young children who prefer clowns
than some man screaming on TV . BK did not listen to its customer, they tried to
establish a restaurant type of business, rather than their fast food burgers.
Fast food patrons really wanted low prices and quick but high quality food, not
a higher priced, sit down meal. The corporate strategy and the past advertising
wasn't the only problem and wasn't the only one at fault for BK's failure. They
also had internal problems. Management has had troubles with the market mix
decisions. Service was slow and food preparation was inconsistent and many
stores needed remodeling. BK didn't focus on its burger ,instead they were
trying to experiment with pizza's and ice cream. This caused confusion ,and
confusion brings problems. To add to the problems BK was more expensive than
McDonalds or Wendy's combos, which was also hurt sales for Burger King.
3. For the new advertising campaign I would personally target the young and the
old generation. I would also be very health conscious and try to establish
myself as an environment safe corporation. Burger King is huge, they have the
ability to do what they please, but they better make sure the customer are happy.
I would make new slogans, and put new ideas for kids and grown ups to enjoy. I
remember when I was growing up I used to love going to Burger King for a burger
and getting a little toy. Now, you get a toy but the prices are so high you
really end up paying for it anyway. I wouldn't leave out the teenage to mid-
twenty's crowd, but I feel they are less influence by ads and specials, they
will buy what is probably better and cheaper. Besides if you target them when
they are small growing up then when they already grow they look they like you
anyway. That is why you have to target the young and make sure you are good to
them. New slogans are hard to come by in specially into this society where you
better watch what you say or you will get suit. I do not really believe in
slogans, I personally rather buy quality than to hear how good it could be. For
me seeing is believing and I do not believe everything I hear.
4. I recommend a couple of things for Burger King to do. One has already been
accomplish, this was I would first change the CEO. In this case Jim Adamson
stepped in July 1991, since then Burger King has made a turn around. He
listened and responded to franchise problems and recommendations. He locked
into a strategy of concentrating on BK's core products flame broiled, bigger
burgers. He launched a new pricing structure which will compete with that of
McDonald's. Burger King also needed to get some effective advertising, and I
believe Mr. Adamson also accomplished this, seeing BK has grown since 1991. He
went back to the basics which I think was the most important part of a Company's
rebuilding, because this how you got to where you are and if all else fails,
it's like starting again with experience. BK became known as "The voice of the
people" opposed to McDonald's been known as the voice of the Corporation. I
also feel BK advertising has improved. Now you see burgers on TV compare to Dan
Cortese a couple of years ago. You also see people having a good time and
eating a whopper. I feel Burger King is a company with many obstacles but it is
also a company that if is stuck to its basic game plan, it could regain a great
deal of the market share. If I was to give a recommendation it would probably
be for BK to stay been loyal to your customers and to try to keep the market
share.
Burger King is a reliable burger company which has had its ups and downs.
In 1974, it came out with a slogan of "Have it your way" and at this time it
also had a 4 % market share. Burger King's idea was to have the customer have
their burger done their way rather than a standard burger. In the early 80's
Burger King was trying to keep sales growing so they had to keep changing their
advertising. In 1982 "Battle of the burgers" and "Aren't you hungry for a Burger
king now?" were the slogans used. In 1983 "Broiling vs. frying" and 1985 "The
big switch". All these ads throughout the years helped increase market shares
from 7.6% to 8.3% from 1983 to 1985. "Search for herb" was a slogan used by BK
about a person that has never tasted a whopper burger, this campaign was
supposed to increase market share by 10% but in reality only increased it by 1%
it was a disaster. In 1986-1987 "this is a burger king town" and "best food for
fast times" brought a lot of attention to the company. In 1988 "We do it like
you do it" was used often but a year later they came out with two new slogans
which confused the customer. In 1989 "Sometimes you gotta break the rules" and
"BK tee vee" with MTV and Dan Cortese with "I love this place". This was another
huge setback for BK because people on the go and parents found this ad loud and
irritating. BK at this time has failed to establish a solid image that would
differentiate it from its competitors. Ads if anything only confused consumers
as to what advantages BK offered. In 1993 it had a market share of 6.1% were
McDonalds had 15.6% and BK's sales were growing slower than its rivals.
Failed advertising campaigns weren't the only problem's, they also had
internal problems. Management lacked focus and direction and has struggled with
marketing mix decisions. Franchises became confused and angered, service was
slow and food preparation wasn't consistent. Burger King lost its core product-
flame broiled burgers, made the way the customer wanted them. Another thing that
hurt them was the fact they didn't lower prices to keep competing with their
competitors this led to a below average sales growth. Many in store promotion
also failed. In 1993 a new CEO was introduced, this allowed for huge turnaround
and in fact it did. He helped please the franchises and responded to their
problems and listened to their recommendations. Then later he lowered prices and
hired a new advertising agency.
1. In reading this case analysis I figured Burger King to advertise the Whopper,
but throughout the past years they didn't do this. I figure the whopper or the
flame broiled ads would have been more productive and probably would have
resulted in greater sales margin. I also feel that the ads should have
distinguished themselves from what other ads by letting the people know that
burger king wasn't just another standardized burger. Throughout the years, BK
tried to establish the market by becoming someone they weren't. I feel the ads
used by BK should have been simple and to the point. This would have caused less
confusion and more honesty with the customer, this is because you don't want to
advertise a pizza or a taco if your selling burgers. Other objectives BK wanted
was to target teens with the MTV approach. This also failed because people found
it loud and annoying. Then they tried a sit in type of restaurant, which also
failed because people want a fast food low price meal not a high priced, sit
down meal. Advertising is any paid form of non personal presentation and
promotion of ideas, goods or services by an identified sponsor. Advertising is a
good way to inform and persuade the customer. Advertising objectives are based
on past decisions about the target market, positioning and target mix. There are
five steps to making a major advertising decision these steps are as follows:
Objective setting, Budget decisions, Message decision or media decision, and
campaign evaluation. Along with these steps BK should also remember to inform,
persuade, and to remind. These three are a must that a company should aim at,
for example: in informing BK used the ad "Broiling vs. frying" in 1983 letting
the consumer know that their burgers were broiled and not fried. In persuading,
I think BK over did it and that is why I feel that they didn't retain market
share. They tried to be someone they weren't with slogans like "search for herb"
in 85 and many others like "BK Tee Vee" trying to persuade the younger
generation and "Sometimes you gotta break the rules". These slogans and more
tried to persuade the consumer. In reminding their customers BK has done a good
job. They've at least expanded nationally and internationally and always have
commercials everywhere with a juicy whopper on the screen, reminding the viewer
that BK is the only place a whopper is made.
2. BK's past advertising and corporate strategy failed because BK did the two
biggest mistakes they could have done. First they didn't listen to the customer
and second they didn't advertise their main product a maintain a target market.
In not accomplishing any of these two strategies in the past it allowed their
rivals to get a lead on them. In 1993 McDonalds, for example, had a market share
of 15.6 percent compared to BK's 6.1 percent. This is because they established
their market and didn't try to invent new strategies. Burger King started to
lose market shares when it first came out with the search for herb, and then it
declined again when it tried to target the teenage generation rather than
staying loyal to the general customer. It tried targeting the younger generation
through MTV. This became insulting and irritating to the old customers and to
the quiet more relaxed people and even all the young children who prefer clowns
than some man screaming on TV . BK did not listen to its customer, they tried to
establish a restaurant type of business, rather than their fast food burgers.
Fast food patrons really wanted low prices and quick but high quality food, not
a higher priced, sit down meal. The corporate strategy and the past advertising
wasn't the only problem and wasn't the only one at fault for BK's failure. They
also had internal problems. Management has had troubles with the market mix
decisions. Service was slow and food preparation was inconsistent and many
stores needed remodeling. BK didn't focus on its burger ,instead they were
trying to experiment with pizza's and ice cream. This caused confusion ,and
confusion brings problems. To add to the problems BK was more expensive than
McDonalds or Wendy's combos, which was also hurt sales for Burger King.
3. For the new advertising campaign I would personally target the young and the
old generation. I would also be very health conscious and try to establish
myself as an environment safe corporation. Burger King is huge, they have the
ability to do what they please, but they better make sure the customer are happy.
I would make new slogans, and put new ideas for kids and grown ups to enjoy. I
remember when I was growing up I used to love going to Burger King for a burger
and getting a little toy. Now, you get a toy but the prices are so high you
really end up paying for it anyway. I wouldn't leave out the teenage to mid-
twenty's crowd, but I feel they are less influence by ads and specials, they
will buy what is probably better and cheaper. Besides if you target them when
they are small growing up then when they already grow they look they like you
anyway. That is why you have to target the young and make sure you are good to
them. New slogans are hard to come by in specially into this society where you
better watch what you say or you will get suit. I do not really believe in
slogans, I personally rather buy quality than to hear how good it could be. For
me seeing is believing and I do not believe everything I hear.
4. I recommend a couple of things for Burger King to do. One has already been
accomplish, this was I would first change the CEO. In this case Jim Adamson
stepped in July 1991, since then Burger King has made a turn around. He
listened and responded to franchise problems and recommendations. He locked
into a strategy of concentrating on BK's core products flame broiled, bigger
burgers. He launched a new pricing structure which will compete with that of
McDonald's. Burger King also needed to get some effective advertising, and I
believe Mr. Adamson also accomplished this, seeing BK has grown since 1991. He
went back to the basics which I think was the most important part of a Company's
rebuilding, because this how you got to where you are and if all else fails,
it's like starting again with experience. BK became known as "The voice of the
people" opposed to McDonald's been known as the voice of the Corporation. I
also feel BK advertising has improved. Now you see burgers on TV compare to Dan
Cortese a couple of years ago. You also see people having a good time and
eating a whopper. I feel Burger King is a company with many obstacles but it is
also a company that if is stuck to its basic game plan, it could regain a great
deal of the market share. If I was to give a recommendation it would probably
be for BK to stay been loyal to your customers and to try to keep the market
share.
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