Exploring The Chemistry Of Adhesives Chemistry Essay

Investigating The Chemistry Of Adhesives Chemistry Essay A glue is a substance that adheres to the outside of an item to such an extent that two surfaces become fortified. A commonplace home improvement store conveys a wide range of cements for a wide range of applications..The cooperation of atoms is known as intermolecular holding, or optional holding. Essential holding, otherwise called intramolecular holding, is the connection of iotas inside an atom and incorporates covalent and polar covalent holding. Optional holding incorporates dipole-dipole holding (the association of particles that have a changeless net dipole second) and hydrogen holding (a cooperation that happens when a hydrogen iota is attached to a N, O, or F iota in an atom). Cements fix when the little gum atoms combine to frame incredibly enormous particles known as polymers. For instance, one of A few glues, for example, this wood cement, are utilized distinctly with explicit substrates in light of the fix time expected to take into account great holding. The least difficult polymer is polyethylene. The mer (essential structure square of the polymer) is ethylene, H2 C=CH2. The expansion of an initiator (R) causes the development of the radical RCH2 CH2 . A radical is an animal groups that has an unpaired electron and is receptive on the grounds that it looks for the wellspring of electrons. This extreme will append the ethylene mer (the twofold bond in ethylene is wealthy in electrons) to begin a chain response that proceeds until huge polymer particles structure. This and different types of polymerization forms are the reason for the detailing of polymers. This procedure is known as relieving when managing cements. Two standards must be met all together for an atom to have a lasting net dipole second: (1) an inconsistent sharing of electrons inside the particle with the end goal that at least one intramolecular bonds has an incomplete positive end and a halfway negative end, and (2) a geometry to such an extent that the vector total of the individual dipole minutes doesn't rise to zero. The capacity of an iota inside an atom to pull in electrons is known as electronegativity, an idea proposed by Linus Pauling who set up a table of relative electronegativities. In Paulings table, fluorine is the most electronegative component and is given the estimation of 4.0. The more prominent the distinction in electronegativity between two particles inside an atom, the bigger is the dipole second in that bond. Since the bond between two particles having inconsistent electronegativities has a fractional positive end and a halfway negative end, it is supposed to be a polar bond. On the off chance that the geometry of the particle is with the end goal that the vector total of the entirety of the dipole minutes doesn't rise to zero, at that point the atom is polar. The electronegativities for carbon and oxygen are 2.5 and 3.5, separately; subsequently, the carbon-oxygen security is a polar security. A carbon dioxide atom has two carbon-oxygen bonds; in any case, its geometry is with the end goal that the vector total of the two dipole minutes approaches zero, and in this manner carbon dioxide is a nonpolar particle. The electronegativity of hydrogen is 2.1, in this way a hydrogen-oxygen bond would be polar. A water particle has two hydrogen-oxygen bonds. The geometry of a water particle (the H-O-H bond edge is 104.5â °) is nonsymmetrical, thus the vector whole of the dipole minutes isn't equivalent to zero and water is a polar atom. Polar atoms will pull in other polar particles as a result of their net dipole minutes. Water particles, be that as it may, have an extra fascination for each other, in view of hydrogen holding. This fascination is solid to the point that, in spite of the fact that water is a little atom and little particles will in general be gases, water is a fluid at room temperature. This part of the science of water exhibits that hydrogen holding is a moderately solid power that can hold atoms together. Two surfaces there must be a few sorts of collaboration between the glue and the two substrates. The main sort of communication is that the glue must wet the substrate, that the cement must spread itself out into a film that covers the substrate surface. With the goal for this to occur, the glue must have a low enough consistency so it will stream. Consistency is the opposition of a fluid to stream. Water has a low consistency though nectar has a high thickness. Since consistency is temperature subordinate, the use of a cool cement to a substrate, or the utilization of a cement to a chilly substrate, may bring about poor wetting. Another factor that influences wetting is the overall qualities of durable powers, and those of cement powers. On the off chance that the durable powers among cement particles are more vulnerable than the glue powers between the glue atoms and the substrate surface, at that point the cement particles will spread out over the substrate and wet its surface. A glue that has a generally low thickness and can wet the substrate surface will stream into any little breaks or pores on the substrate surface. Mechanical holding is one of a few different ways that a glue securities substrates. All surfaces, aside from those that are profoundly cleaned, have pores. On the off chance that the glue streams into these pores and, at that point polymerizes, a mechanical bond is framed. The cooperations of glue atoms with substrates are so basic, it bodes well that a few glues would be more suitable for a particular substrate than others. Glues are intended for explicit applications. For instance, cements known as super pastes (cyanoacrylates) are valuable around the home in the holding of regular substrates (e.g., dishes, toys, and so on.), which can occur surprisingly fast. Cyanocrylates will in general be fragile subsequently they are powerless against sway and sensational changes in temperature. To diminish these weaknesses, limited quantities of finely ground elastic has been utilized as filler. The elastic presents adaptability subsequently lessening weakness. Furthermore, cyanocrylates are assaulted by polar solvents. Polar solvents will debilitate relieved cyanocrylate bonds after some time. Along these lines, applications including water, alcohols, or other polar solvents ought to be maintained a strategic distance from. Cyanoacrylates are not proper for the holding of the steel portions of a car, as a result of the conditions that the vehicle will be presented to. Those situations incorporate such things as downpour, varieties in temperature, introduction to solvents, (for example, fuel, oil, and windshield washer arrangement), ozone, corrosive downpour, salt shower, and bright light from the Sun. Another case of an extraordinary glue would be the one used to append another rearview reflect in a car. Since the restored glue for this situation will be presented to wide varieties in temperature and to an amazingly enormous measure of bright light from the Sun for delayed timeframes, a glue planned explicitly for these conditions ought to be utilized. At last, the quality and lastingness of the security shaped among glue and substrate must be viewed as when one is choosing a cement. More often than not it is alluring to have most extreme quality and perpetual quality; the exceptionally basic Post-it note, be that as it may, is a counterexample. Its cement is neither solid nor perpetual. Arrangements of some regular kinds of cements and their employments. Due to the various potential substrates and blends of substrates, and on the grounds that glues are dependent upon such a scope of natural conditions, it is no big surprise that there are such a significant number of sorts of glues available. Be that as it may, on the off chance that one has some information on how cements attach to substrates and the sorts of substrates being fortified, the errand of choosing glues won't be overpowering. Sorts OF ADHESIVE Common ADHESIVE Creature stick Casein stick Blood egg whites stick Starch and dextrin Characteristic gums Engineered ADHESIVE Contact concretes Basic cements Hot-dissolve cements Weight touchy cements Bright restored cements Characteristic ADHESIVE: Characteristic cements are principally of creature or vegetable inception. Despite the fact that the interest for common items has declined since the mid-twentieth century, sure of them keep on being utilized with wood and paper items, especially in ridged board, envelopes, bottle names, book ties, containers, furniture, and overlaid film and thwarts. What's more, attributable to different ecological guidelines, regular cements got from sustainable assets are accepting reestablished consideration. Creature GLUE The term creature stick for the most part is limited to pastes arranged from mammalian collagen, the key protein constituent of skin, bone, and muscle. At the point when rewarded with acids, alkalies, or high temp water, the typically insoluble collagen gradually gets dissolvable. In the event that the first protein is unadulterated and the transformation procedure is gentle, the high-atomic weight item is called gelatin and might be utilized for food or photographic items. The lower-atomic weight material created by increasingly vivacious preparing is regularly less unadulterated and darker in shading and is called creature stick. CASEIN GLUE This item is made by dissolving casein, a protein got from milk, in a fluid basic dissolvable. The degree and sort of antacid impacts item conduct. In wood holding, casein sticks for the most part are better than genuine creature sticks in dampness opposition and maturing qualities. Casein likewise is utilized to improve the following attributes of paints and coatings. BLOOD ALBUMEN GLUE Paste of this sort is produced using serum egg whites, a blood part reachable from either new creature blood or dried solvent blood powder to which water has been included. Expansion of antacid to egg whites water blends improves cement properties. A significant amount of paste items from blood is utilized in the compressed wood industry. STARCH AND DEXTRIN Starch and dextrin are separated from corn, wheat, potatoes, or rice. They establish the chief kinds of vegetable glues, which are dissolvable or dispersible in water and are acquired from plant sources all through the world. Starch and dextrin pastes are utilized in folded board and bundling and as a backdrop

Advanced Audit and Assurance Essay

These instructions notes assess the business dangers confronting Grohl Co, and recognize and clarify four dangers of material error to be considered in arranging the review of the fiscal reports for the year finished 30 November 2012. Furthermore, two moral issues are talked about and applicable activities suggested. (I) Business dangers Imported merchandise †swapping scale changes Grohl Co depends on a key part of its creation procedure being imported from abroad. This opens the organization to swapping scale unpredictability and significantly income vacillations. The organization decides not to alleviate this hazard by utilizing forward trade contracts, which may not be an insightful procedure for a business so dependent on imports. Trade additions and misfortunes can likewise cause unpredictability in benefits, and as the organization as of now has a misfortune for the year, any unfriendly developments in return rates may rapidly expand this misfortune. Imported products †transportation issues Overwhelming dependence on imports implies that transportation costs will be high, and with fuel costs proceeding to expand this will squeeze Grohl Co’s edges. It isn't only the cost that is an issue †dependence on imports is hazardous as gracefully could be upset because of flight issues, for example, the establishing of airplane after volcanic emissions or fear based oppressor exercises. Dependence on imported products improves the probability of a stock out. Except if Grohl Co keeps a sensible degree of copper wiring as stock, creation would need to be stopped if gracefully were interfered, making inert time and wasteful aspects, and causing loss of client generosity. Dependence on single provider All of Grohl Co’s copper wiring is provided by one abroad provider. This degree of dependence is very dangerous, as any disturbance to the supplier’s tasks, for instance, because of monetary challenges or political obstruction, could bring about the abridgement of gracefully, prompting comparable issues of stock outs and ended creation as examined previously. Quality control issues Since delegating the new provider of copper wiring, Grohl Co has hence experienced quality control issues with circuit sheets, which could bring about losing clients (talked about further underneath). This may have been because of changing provider as a feature of a cost-cutting activity. Given that the new provider is abroad, it might make settling the quality control gives progressively troublesome. Extra expenses may must be caused to guarantee the nature of products got, for instance, additional expenses according to electrical testing of the copper wiring. The company’s working edges for 2012 are as of now low at just 4% (2011 †7â ·2%), and extra costs will squeeze edges. High-innovation and serious industry Grohl Co sells into a high-innovation industry, with PCs and cell phones being dependent upon fast item improvement. Almost certainly, Grohl Co should adjust rapidly to changing requests in the commercial center, however it might not have the assets to do this.

How to Find a Lead Investor

How to Find a Lead Investor If you are setting up a new business, one of the first things you need to start thinking about is finding financing. When it comes to start-up funding, investors are often the best way to channel initial funding for your business. © Shutterstock.com | AMV_80This guide will look at one of the most crucial aspects of financing: finding the lead investor. You can learn about 1) what a lead investor means, 2) why finding one matters for your business and 3) the things you should look for before you begin searching. You’ll also be able to understand the four crucial steps to finding a lead investor.WHAT IS A LEAD INVESTOR?Anyone looking for funding a business must be aware of the difference between a lead investor and an investor. In short, lead investors tend to be much more involved in the business, both in terms of the amount of money they provide for the business and the information they might receive on a monthly basis in terms of operations, compared to general investors.The Business Dictionary defines a lead investor as a:“Partner or investor with the largest share of capital in a syndicated financing arrangement. A lead investor is usually the initiating venture capitalist who takes charge of the deal, and who may also act on behalf of the investors”A lead investor can be a single individual or an investor group. The key difference to other investors is the commitment of lead investors. Lead investors are able to work closely with the business and provide their expertise and time for the business. In many instances, the business information is shared closely with the lead investor.Although lead investors are often the investors who put the most capital into the business, it doesn’t necessarily have to be that way. The most important factor is the level of involvement, as lead investors are typically closely associated with decision-making and expertise in the new business. Nonetheless, in most instances, the initial investment of a lead investor will be significantly higher to what other investors might be considering.Since lead investors are such a vital player in a business’ development process, they can be quite hard to find. A lead investor is expected to provide not ju st capital, but also the expertise and therefore, many investors prefer to let other investors take the leading role.The responsibilities of a lead investorPerhaps the easiest way to understand what lead investors are all about is by looking at their responsibilities. A lead investor is not just a funding machine for the business; a good lead investor could provide the expertise to guarantee the business grows and reaches its full potential.First, a lead investor will naturally provide the business financial support. It is often quite a substantial amount of money, at least around 20% of the funding round the business is looking for, for example. The lead investor can provide the money to get the business up and running.Second responsibility is to provide structured advice on the direction the business should be heading. A lead investor should provide the business advice and tips that not only can generate more funding, but also boost the business in terms of sales and growth.Finall y, a lead investor has the responsibility of commitment. Whilst other investor can often take the money and run after you’ve completed your financial obligations to them, a lead investor will follow the business much longer. Although a lead investor is not directly involved with the business, in terms of running it, the commitment is to help the business for as long as required.WHY DOES FINDING A LEAD INVESTOR MATTER?Considering the fact lead investors have much more responsibilities to other investors and they are harder to find, does a business require a lead investor? Any new business knows how hard it can be to find good investors, but finding a lead investor can significantly reduce the difficulty.The reason is clear when you look at the name: a lead investor. Since the commitment level is different for a lead investor, your company can send a clear message of trust and interest to other investors by having a lead investor. If you get that one investor attached to your busine ss, you make it much easier to find other’s willing to invest.A lead investor sends out two strong signals for the other investors. First, a lead can ease the burden on other investors. Since you already have someone who’s helping you sort out the finances, other investors might feel happier to invest. You are only after their capital not other commitment, which might take their time away from their other projects.Second, the lead has started the funding, which means your other investors can get on board with a smaller capital investment. This can be important, as many investors might not be happy to invest huge amounts of money to new projects due to their risk status.On the other hand, a lead investor would also make it easier for your business, as they reduce the need for additional funding. Not only can you attract more investors, but also you already have a large investment to get your business moving. Even if you struggle finding further investment, a lead investor would h ave already provided enough to get the business growing.Not to mention the importance of the expertise your business can gain from a lead investor. A great lead investor can provide a wealth of information on topics like funding, marketing and the day-to-day business operations. Therefore, it is essential your business put enough time and effort in finding a lead investor.KNOW WHAT TO LOOK FORBefore we move onto look at the concrete steps you can take to finding a lead investor, it’s important to understand what you should be looking for. Just as there are bad investors and good investors, there are also bad lead investors and good lead investors.What makes a good lead investor?First, you need to remember the responsibilities of a good lead investor. Since you aren’t just after the capital investment, you can’t pick your lead investor based on who can invest the most money. Whilst you do want a significant and tangible investment from the lead investor, the most important thin g is to find someone who is committed and interested.You want your lead investor to be almost as passionate about your business as you are. The business should spark enthusiasm in the lead investor, not just be something they half-heartedly invest in. In fact, your lead investor should be so excited about the prospects for your business that they want to be all in because they know you are going to get big.This means you need to stay away from the “potentials”. These investors keep telling you they might be interested if your business is able to do X and Y. They are not prepared to fully commit, even though they might see the potential. But a good lead investor should be a maverick; someone who is prepared to get on board even if you don’t have a line outside your business of others wanting to invest.What are lead investors looking for from your business?You should also be looking for lead investors who clearly know what they want from your business. For this, you need to know what your business can offer to the investor to guarantee you find the right lead investor.You must clearly think about the possibilities of your business. Don’t think this only in terms of the financial return you think you can offer, although it’s also important, but also how being involved with your business can enhance the investor’s personal expertise and career.Furthermore, it’s important to match the interest and the expertise of the investor with the business and the industry it operates in. For example, if your business were part of the medical technology sector, you’d want to find a lead investor with expertise in this area. Naturally, they don’t need to be the master of the particular business idea or anything like that. But it is important they aren’t a newcomer to the industry or sector.As mentioned in the previous sections, a lead investor should be able to provide you with their input and assistance and this is much harder, if they’ve never worked wit hin the industry or with a similar type of business.Remember to conduct due diligenceFinally, investors often scrutinize the businesses they invest in a meticulous manner. This is to ensure they limit the risks and know what they are getting into. But just as your investor needs to conduct due diligence on your business, you should do the same on the investor.This might not seem as obvious and easy as it sounds. If you are a start-up struggling to get investment, any investor coming your way might sound like a good deal. But you shouldn’t just accept the money.As the lead investor will be heavily involved with your business, you need to make sure the relationship works. There are business partners and then there are the business partners that know just how to challenge you and push you forward. This is what you should be looking for. Someone that can help you to succeed and fulfill your dreams, while also keeping you grounded. You aren’t looking for an investor that gives you mo ney and agrees with everything you do. You need to receive advice on how the business can be even better.When you are looking for a lead investor, the following questions are important to answer:Has the investor/entity previously invested in similar type of companies/industries?Does the investor/entity have experience in start-ups? If so, what is their track record of helping start-ups succeed?If their investments have failed, why did this happen? This is important, as failure might not always be a lack of proper funding or help from the investor’s side, but sometimes could be.What’s their commitment ability for the business? When are they able to provide assistance? How involved are they going to be?Furthermore, as mentioned earlier, a lead investor can be either an individual or an investor group. If you are dealing with an investor entity, such as an investment company, you need to be especially diligent. Before you commit to the group find out whom exactly are you dealing wi th. Will you have a single person helping and contacting you or a group of individuals that will look after your business?THE 4 STEPS TO FINDING A LEAD INVESTORFinding a lead investor won’t be an easy task. As mentioned earlier, many investors don’t want to be as intimately involved with the businesses they invest in and there is quite a bit of competition over potential lead investors. The process of finding a great lead investor won’t be easy, but it can be quite straightforward if you follow these steps.Step 1: Have a solid business planIn order to attract any sort of investor for your business, you need to have a solid business plan. A lead investor will be especially focused on scrutinizing your business plan, as they will be so heavily involved with your business. So, start by ensuring you have a good business plan in place.For example, check out further tips from the video below: The key things to think about are the goals your business has. Think carefully what kind of vision you are going after and what steps are required in order to get there. This is the important part of attracting a lead investors also because it helps you start narrowing down the potential investors.Remember that your business plan doesn’t necessarily need to be perfect or fully developed, as you talk with your investors. Having a business plan doesn’t, in this context, mean you must have the legal framework properly up and running, it is the idea and route map that matters the most. You need to be able to show your potential lead investors what the business is all about, where it hopes to be in the next year, five years and ten years. Furthermore, you need to be able to showcase an understanding of the potential hurdles and obstacles and show a way to solve them.You should definitely keep your business plan grounded in reality. You need to aim high, but you can’t forget about the resources you have at your disposal. Don’t try to make your business sound more intere sting or lucrative than it is. A good lead investor will spot the business plans that are what they say they are.Step 2: Look for an investor that matches your business planOnce you have the business plan ready, you already have an idea on the type of lead investor you want to find. At this point, it is a good idea to take advantage of your local small business incubators. These incubators can be a great source for making connections and finding more about the investor scene at your local area or in your specific industry.You can also contact other business organizations. When it comes to finding a lead investor, your personal connections play a crucial role. Since you want to find someone you get along with well and who can act as your mentor, it is a good idea to see if there are people around you suitable for the role.Do remember not to opt for your mother! While the lead investor can encourage other investors with their initial investment, the responsibilities are greater than j ust the personal rapport. So, use your inner circle to see if there are suitable candidates, but don’t opt for a family member.At this point, you can also discuss lead investor candidates with other potential investors. If you have already attracted these ‘potentials’, you can definitely ask their advice for a lead investor. It might be, that while they aren’t ready to commit to your business as heavily as a lead investor would, they know a candidate for the role.If you are a start-up, you want to find seed level investors. These investors are specifically looking for risky investment opportunities and companies that are starting from scratch. On the other hand, look for growth investors if you are an established business ready to take it to the next level.Step 3: Start building a relationship with potential lead investorsWhen you’ve been able to find a few potential investors, you need to start building a relationship with the person or group. Finding the right lead inves tor is much more than just asking for money and signing a contract. In fact, you don’t want to be suggesting the investment opportunity immediately.Since the lead investor needs to be passionate about your business, it is a good idea to build a relationship first. Talk about your ideas for the business and build an understanding of what the investor thinks about the business ideas. Don’t bring up investment â€" you almost want your lead investor to suggest the investment.In the investment world, a ‘no’ can unfortunately be a definite answer. Therefore, you don’t want to rush your investment proposal at any stage. After all, you are looking for someone who is sold on your idea, not someone who needs months of convincing.Most seed investors are excited about new investment and leading opportunities. Use this to your advantage and get them excited about the business. Invite them to visit your business and look at how things are shaping up.Once you see the person is excited, p op the question. Make sure you clearly outline what you are looking for â€" a lead investor who can provide you the support you need â€" and let them know what your business can offer â€" in terms of monetary gain, but also personal fulfillment.Step 4: Negotiate a term sheetIf you have found a lead investor who is happy to invest in your business, you need to start negotiating the term-sheet. Remember you are still going to want to make a good deal for your business â€" don’t just accept an offer they give you without thinking it through.It is important to hire a professional lawyer to help you with this process. Even if you’ve found someone you trust, you still want a third party to go through every single detail to ensure there won’t be any problems later on.You want to be clear about the terms of the investment in terms of the capital stake, the control of your business and how you’ll pay back the investment.Finding a lead investor will require plenty of research and plan ning. But if you outline the essentials you are looking for in an investor and prepare your business plan to mitigate risks, you can achieve this goal.

Health Disparities in HIV Essay - 1060 Words

Health Disparities in HIV/AIDS Human immunodeficiency Virus also known as HIV is a sexually transmitted disease. It attacks your bodys immune system. The virus destroys CD4 cells, which help your body fight diseases. HIV damages your immune system and it leads to acquired immune deficiency syndrome also known as AIDS. AIDS is the final stage in HIV, and it’s a disease where severe loss of the bodys cellular immunity occurs. The disease lowers the resistance to infection and malignancy. Anyone can get HIV/AIDS. Men, women, and children, of all different races and descents can get infected with the virus. People who are gay or straight can also be infected with HIV/AIDS. There is currently no cure for HIV/AIDS. HIV treatments may reduce†¦show more content†¦In 2010 African Americans made up 46% of Americans infected with HIV/AIDS, and they only make up 10% of the American population. Out of the 46% of blacks infected with the disease 88% are females and 19% are males. The question at hand is, whatâ⠂¬â„¢s causing so many African American woman to be infected in America? Poverty, healthcare access, and risk taking behaviors are all among the answer. One in 4 African-American women lives in poverty, and people living in poverty also get lower-quality health care in general. Exchanging sex for drugs, money, or to meet other needs causes the increase HIV risk factors. For woman living in poverty with low quality health care gives the HIV infection to advance into AIDS more quickly. HIV is mostly spread to women through sexual contact. Untreated STDs that break the skin, like genital herpes, give HIV an access into the bloodstream. 23% of African American women were infected with HIV by injection drug use. Being under the influence of any substance can cause woman to have high risk behaviors such as unprotected sex and sharing of injection drug paraphernalia. Another thing that’s causing more African American woman to have a higher percentage infected than any other race is because, many don’t date or have sexual partners outside of the African American race. There are more men in the African American race than any other race infected with HIV/AIDS. So therefore infecting the African American woman.Show MoreRelatedHealth Disparity Of HIV And AIDS Analysis933 Words   |  4 PagesThe health disparity of HIV/AIDS prevention and treatment within Calcasieu Parish can be extrapolated from the state’s fifth region’s data provided by the Department of Health and Human Services of Louisiana. Region Five consists of Calcasieu, Allen, Beauregard, Cameron, and Jefferson Davis parish. 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A Rose For Emily Symbolism Analysis - 1376 Words

The Symbolism of the Setting in Faulkner’s and Hemingway’s Stories The place where the story is set plays the most significant role in the majority of fiction pieces, since it is the setting that outlines the plot development and influences the heroes’ decisions and general characteristics. In Faulkner’s â€Å"A Rose for Emily† and Hemingway’s â€Å"Hills Like White Elephants,† the setting is raised to the symbolic level. When the outside portrayal does not correspond to what is happening inside the character, it adds a psychological perspective to the plot’s analysis. In Faulkner’s story, there is much information about the Griersons who have been at the top tier of society for a long time and have become an integral part of the local community. In†¦show more content†¦It is the repetition of the phrase â€Å"had once been† that attracts the audience’s attention, since with such a repetition, the narrator wants to underline the obvious difference between the house’s form er splendor and its current half-ruined appearance, though it still tries to look â€Å"stubborn and coquettish† (1), just like its last dweller – Miss Emily. Hemingway also introduces the setting with the first sentence when saying that â€Å"the hills across the valley of the Ebro were long and white† (229), and the whole location is drenched in the bright sunlight with people having no possibility to hide in the shadow of trees. With these words, the narrator wants to imply that this story is a kind of confession in which nothing will be hidden from attentive readers, though it may take time for them to realize what the usual conversation can hint at. Both heroines understand that certain changes are inevitable in their condition. They are confused by possible consequences and are scared stiff of what they are expected to do. While these emotions are not shown directly, they are shown through the setting. In Faulkner’s story, Miss Emily leaves her house very seldom as if the surrounding world makes her insecure and unconfident, while a disgusting stink of decay and frustration seems to start coming from the building she has been occupying for so many years.Show MoreRelatedThe Lottery, By Shirley Jackson And A Rose For Emily By William Faulkner960 Words   |  4 PagesThe Use of Symbolism in â€Å"The Lottery† by Shirley Jackson and â€Å"A Rose for Emily† by William Faulkner The use of symbolism is used in literature to enhance writing and add meaning to a story, this is evident in the two short stories â€Å"The Lottery† written by Shirley Jackson and â€Å"A Rose for Emily† written by William Faulkner. With the authors use of symbolism Jackson and Faulkner are able to add depth to their writing in a way that connects with the readers. By adding symbolism to the short storiesRead MoreEssay A Rose for Emily: Literary Analysis 2990 Words   |  4 PagesENG 102 Analysis Research Paper 09-25-10 Literary Analysis William Faulkner’s short story â€Å"A Rose for Emily† carries a theme represented by a dying breed of that era, while using symbolism to represent tragedy, loneliness and some form of pride, the story also shows how far one will go to have the approval of others and the pursuit of happiness. In today’s times, a person’s image could mean everything in life and almost everyone tries to fit into the main stream in some form at some pointRead MoreA Rose for Emily by William Faulkner712 Words   |  3 PagesSymbolism can be something that represents another thing for example the bald eagle of the United States of America represents freedom. Some symbols or objects are trifles things that don’t have any value but some people they think that they have value. There’s a manifold of symbols that represents a lot of things, another example is the Texas flag, the Texas flag has three colors an each one has a meaning the color blue represents loyalty, the color red represents bravery, the color white representsRead MoreEssay on Connecting Symbols in A Rose for Emily1248 Words   |  5 Pagesfound in literature is the use of images and symbols. Symbols are sometimes complex and contain both literal and figurative significance. Symbolism in literature is commonly used to bind the attributes of an object with various segments of a story to provide the reader with a deeper understanding and sometimes hidden meaning. In the short story, â€Å"A Rose for Emily† William Faulkner utilizes a vast collection of symbols, as a means to enhance the reader’s visual perceptions but also prompts considerationRead MoreEssay on William Faulkners A Rose for Emily1539 Words   |  7 PagesWilliam Faulkners A Rose for Emily As any reader can see, A Rose for Emily is one of the most authentic short stories by Faulkner. His use of characterization, narration, foreshadowing, and symbolism are four key factors to why Faulkners work is idealistic to all readers.   Ã‚  Ã‚  Ã‚  Ã‚  The works of William Faulkner have had positive effects on readers throughout his career. Local legends and gossip trigger the main focus of his stories. Considering that Faulkner grew up in Mississippi, he wasRead MoreA Rose for Emily by William Faulkner Essay967 Words   |  4 PagesIn Faulkner’s, â€Å"A Rose for Emily†, Emily lives in a world of her own making. This is because townspeople in Jefferson holds Miss Emily in such high regards. To them, she symbolizes the customs of the old south, or what the town Jefferson once was. For Emily and also for the townspeople time is relative, the past is an ever-present realm in Jefferson. For this reason people wish to respect Emily and preserve her customs; even if it means intruding into her personal life, or turning the cheek towardsRead MoreAnalysis of William Faulkners A Rose for Emily Essay1187 Words   |  5 PagesAnalysis of William Faulkner’s â€Å"A Rose for Emily† In â€Å"A Rose for Emily†, William Faulkner uses symbolism, imagery, simile and tone. Faulkner uses these elements to lead his characters to an epiphany of letting go of out-dated traditions and customs. The resistance to change and loneliness are prominent themes within â€Å"A Rose for Emily†. Faulkner uses â€Å"A Rose for Emily† to caution his readers that things are not always what they appear to be. The tone of â€Å"A Rose for Miss Emily†Read MoreRhetorical Analysis Of `` Catch `` By Chris Leggett Essay1200 Words   |  5 Pageswhat one is writing about and effectively delivering it. In the sample essay, Tossing Metaphors Together in Robert Francis s Catch by Chris Leggett, Leggett writes an analysis paper in which he analyzes the extended metaphor of the poem. While in the sample essay, How William Faulkner s Narrator Cultivates a Rose for Emily by Tony Groulx, Groulx writes a research paper where he researches various aspects of the story. These two essays demonstrate two distinct approaches taken to discuss a poemRead MoreAnalysis Of Katherine Mansfield s Miss Brill 1633 Words   |  7 PagesWilliam Faulkner s short story A Rose For Emily. Although both stories appear to be not so alike, the connections they impart are of substantially more value. The distinctions in social contribution between Miss Brill and Emily Grierson can t exceed the similarities in their absence of social and emotional lives and their shocking conditions of refusal. The plots of the stories demonstrate the dissimilarities in the social lives between Miss Brill and Grierson Emily and how both character attemptRead MoreA Tale of Terror 1087 Words   |  4 PagesWilliam Faulkner’s â€Å"A Rose for Emily,† a short story about the odd Emily Grierson, a once well-respected woman in a small southern town, takes readers into a whirlwind of a story leading up to a horrifying discovery about Miss Emily’s secretive demeanor. Through his characterization of Miss Emily, his descriptions of the setting, and his use of foreshadowing, Faulkner effectively develops â€Å"A Rose for Emily† into a horrific tale. The first way that Faulkner organizes â€Å"A Rose for Emily† is in his characterization

Direct Mail Homework Free Essays

1. Who will your target audience(s) be for this coming year? When using direct mail as a medium for fund raising, firms measure their performance by comparing the dollars earned with the dollars spent (Bhagat and Donovan). Hence, for the coming year we should concentrate on those who can give us the maximum amount of money while we keep our costs at the lowest possible. We will write a custom essay sample on Direct Mail Homework or any similar topic only for you Order Now Also, most of our donors are in the retired age bracket. For these reasons we should concentrate on targeting middle age people; those who have are concerned about others and also have the means to help them. 2. What proportion of your budget will you allocate for new requests versus ongoing communication? At least half of the budget should be allocated for new requests as the company is in dire need of altering its current donor list age bracket. 3. What other communication tactics might you use to try and reach potential donors? The firm can use many other tactics such as online mailing, setting up a website, making online forums where people can come and discuss new ideas and giving an advertisement in the newspaper. However, newspaper advertisement will cost a lot and thus, the chosen newspaper must be the one which is widely read by the target audience. 4. How might you distinguish yourself from other charities making requests for funds? A lot of fundraisers show their donors the monetary benefits of raising funds through them. We do not think this is a healthy practice as those giving away something should not be interested in getting more back. Hence, we will distinguish ourselves from others by highlighting the benefits that society will get out of our the donors’ gesture to help others. 5. Is there any certain determinant you can think of that might help you identify good potential donors? While identifying potential donors, we will need to know if they have been giving donations in the past and how they feel about that. That can be identified through inviting people to online discussions and then contacting those whom we think have the potential via direct mail to give donations. How to cite Direct Mail Homework, Papers

Direct Mail Homework Free Essays

1. Who will your target audience(s) be for this coming year? When using direct mail as a medium for fund raising, firms measure their performance by comparing the dollars earned with the dollars spent (Bhagat and Donovan). Hence, for the coming year we should concentrate on those who can give us the maximum amount of money while we keep our costs at the lowest possible. We will write a custom essay sample on Direct Mail Homework or any similar topic only for you Order Now Also, most of our donors are in the retired age bracket. For these reasons we should concentrate on targeting middle age people; those who have are concerned about others and also have the means to help them. 2. What proportion of your budget will you allocate for new requests versus ongoing communication? At least half of the budget should be allocated for new requests as the company is in dire need of altering its current donor list age bracket. 3. What other communication tactics might you use to try and reach potential donors? The firm can use many other tactics such as online mailing, setting up a website, making online forums where people can come and discuss new ideas and giving an advertisement in the newspaper. However, newspaper advertisement will cost a lot and thus, the chosen newspaper must be the one which is widely read by the target audience. 4. How might you distinguish yourself from other charities making requests for funds? A lot of fundraisers show their donors the monetary benefits of raising funds through them. We do not think this is a healthy practice as those giving away something should not be interested in getting more back. Hence, we will distinguish ourselves from others by highlighting the benefits that society will get out of our the donors’ gesture to help others. 5. Is there any certain determinant you can think of that might help you identify good potential donors? While identifying potential donors, we will need to know if they have been giving donations in the past and how they feel about that. That can be identified through inviting people to online discussions and then contacting those whom we think have the potential via direct mail to give donations. How to cite Direct Mail Homework, Papers

Story of an Hour Essay Example

Story of an Hour Essay 1) Chopin heavily utilizes symbolism in her story. Describe three symbols in detail, making sure you discuss their relevance to the storys themes. 2) Mrs. Mallard is described as suffering from a heart condition. How does this malady affect her character and the events in the story? 3) Analyze the plot structure of the story. Is there any foreshadowing? What would you say is the climax of the story? 4) Does this story provide a feminist theme? Why or why not? There are three main details in â€Å"The story of an hour† Mrs. Mallard is an independence woman, role of woman in marriage life and self-assertion. Mrs. Mallard has a heart problem so is very difficult for people around her announce for her about the death of her husband. However, not like any reaction from any women we could imagine, she just weeps at once and comes back to her room by herself. â€Å"When the storm of grief had spent itself she went away to her room alone†. Even with the serious heart problem but she is very strong underneath. She overcomes the pain of the loss of her husband and accepts truth that she has to keep moving forward by herself. â€Å"And she opened and spread her arms out to them [long years in future] in welcome†. We will write a custom essay sample on Story of an Hour specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Story of an Hour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Story of an Hour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Moreover, the woman’s role in marriage life is one of the theme of the story. In the old time, there is no freedom for married people, especially woman. Even though Mrs. Mallard had been loved by her husband a lot, but when she knows that he passed away, she is waiting for her freedom to come. â€Å"†Free! Body and soul free! † she kept whispering†. And self- assertion is the most important ideal that the author want to mention. People always love themselves the most. Even the love for other is still exist, but in the deepest part of their mind they would always put themselves in the most important role. As Mrs. Mallard, even she has a heartbroken for the death of her husband but since then her self-assertion is show up clearly. â€Å"But she saw beyond that bitter moment a long procession of years to come that would that belong to her absolutely†. She is waiting for the time to spend her life by her own without any bending for anyone, include her be-loved husband. Mrs. Mallard has a heart problem so everyone around her always worried for her sickness getting bad. When they want to tell her the bad news about her husband, they have to find the way â€Å"as gentle as possible† to start. Because of that problem, she seems very quiet in the family. After weeping for her husband’s bad news, she goes back to her room and would not let anyone follow her. Sitting in her room and let many thoughts come through her mind without making any noise except some whispering â€Å"free, free, free! †. It does not have too many conversion between her and people around, most of the time is the thoughts in her mind. Her room remains silence until her sister asking her to open the door for her. When Mrs. Mallard heard about her husband’s death, she is looking forward to spend the rest of her life in freedom. Her life had been tighten up with her husband in such a long time, and since now it is the time for her to live for herself without the control of anyone. For me, the climax of the story is when Mr. Mallard come back in front of everyone in the house. Besides his wife, his friend and his sister in law are also very shocked to see him back because they strongly believe that he was killed in the accident. And Mrs. Mallard after the heartbroken moment for his death, the exciting moment to spend her own life in the future, and now seeing him come back surprisingly. With every shocking news come in a short time, her heart could not take it. I think there is the feminist theme in this story based on the way Mrs. Mallard reaction in front of her husband bad news. In the old time, woman are not appreciated as man. Even between Mr. and Mrs. Mallard has love, but she still lives under the control of her husband. Therefore, after the short moment weeping for his death, she is immediately plan for her future life. She excited to spend her life by her own.

Catcher in the Rye Potrays American Dream essays

Catcher in the Rye Potrays American Dream essays A dream cannot exist without another person. The Catcher in the Rye illustrates the American dream by revealing the heartaches one must go through while growing up and finding their place in society. Holden Caulfield is amazed by peoples' "phoniness". He believes that no one is truly real and that the world has lost its innocents. The only creatures that still posses the innocence is a child. His world consists of childhood vs. adulthood. Childhood seems to be made of immaturity and pure innocents, while adulthood is where phonies arewhere the world starts to become evil. At the beginning of the book Holden criticizes everyone for the things they do. While doing this, he isolates himselfcreating his own level of self-protection. He never looks at himself to find the flaws in which he possesses. Like the child he still isquick to point fingers at others but never toward himself. He sees adulthood as a bad turn over in his life. Towards the middle of the novel, Holden Caulfield is approached with a question from his little sister, "What would you like to do when you grow up?" His response is, "Thousands of little kids, and nobody's around-nobody big, I mean-except me. And I'm standing on the edge of some crazy cliff. What I have to do, I have to catch everybody if they start to go over the cliff-I mean if they?re running and they don't look where they?re going I have to come out from somewhere and catch them. That's all I?d do all day. I?d just be the catcher in the rye and all. I know it's crazy, but that's the only thing I?d really like to be.? Here is a very symbolic part of the book. Holden wants to save the world from loosing its innocents. He wants to save the children from falling off the cliff?into adulthood?into the phony world. Later on Holden realizes he cannot hold onto adolescence forever, but must become and adult. Here he faces the choice to be "phony" like the rest or simply be himsel ...

The First Review of Van Goghs Paintings

The First Review of Van Gogh's Paintings The very first art critic to review Van Goghs paintings was Albert Aurier (1865-1892), and it happened during Van Goghs Lifetime. Aurier was a painter himself, as well as an art critic. Aurier was passionate about Symbolism, then an emerging art movement. His review, Les Isolà ©s: Vincent van Gogh, was published in January 1890, on pages 24-29 of the magazine Mercure de France. This was a magazine read at the time by everyone with an interest in modern art.1 In it, Aurier aligned Van Goghs art with the nascent Symbolist movement and highlight[ed] the originality and intensity of his artistic vision.2 In his review Aurier described Van Gogh as the only painter he knew who perceives the coloration of things with such intensity, with such a metallic, gem-like quality, his work as intense and feverish, his brushstrokes as fiery, very powerful, his palette as dazzling, and said his technique matched his artistic temperament: vigorous and intense. (Full review, in French.) Aurier also published a shortened version under the title Vincent van Gogh in L’Art Moderne on 19 January 1890.4. Vincent van Gogh wrote a letter3 to Aurier in February 1890 to thank him for the review. Thank you very much for your article in the Mercure de France, which greatly surprised me. I like it very much as a work of art in itself, I feel that you create colors with your words; anyway, I rediscover my canvases in your article, but better than they really are - richer, more significant. Van Gogh then goes on to deprecate himself: However, I feel ill at ease when I reflect that what you say should be applied to others rather than to me and right at the end he gives instructions about how Aurier would do well to varnish the study hed sent him. Source:1. History of the Publication of Van Gogh Letters, Van Gogh Museum, Amsterdam2. Heilbrunn Timeline of Art History: Vincent van Gogh, Metropolitan Museum of Art3. Letter to Albert Aurier by Vincent van Gogh, written either 9 or 10 February 1890. Van Gogh Museum, Amsterdam4. Notes to Letter 845 from Jo van Gogh-Bonger to Vincent van Gogh, 29 January 1890. Van Gogh Museum, Amsterdam

Psychiatric Nursing Essay Example | Topics and Well Written Essays - 500 words - 1

Psychiatric Nursing - Essay Example Furthermore, this study attempts to categorize certain â€Å"life events† by their triggering mechanism. Naturally, to each patient, the triggering mechanism will be different; however, by analyzing the association between adverse life events and relapses in a number of individuals with schizophrenia, the authors were able to specifically link certain causal factors with relapses. Lastly, the authors note that a noted increase in what they term â€Å"moderately severe† life events can also lead to a noted increase in psychotic symptoms for the patient. This journal article studies ways in which to develop guidelines for nursing care professionals dealing with suicidal schizophrenics. Due to the high number of attempted suicides within this demographic, mental health professionals require expert direction on how to confront suicidal nature in patients and in what ways to best administer to their needs; all the while ensuring patient safety. The study found that immediately confronting the issue of suicide and the patient’s thoughts, feelings, views, and past history on the subject was the best way to assess suicide risk. This study further supports how health care professionals dealt with the patient in question - C.S. Because no time was wasted in pursuing answers to questions relating to his thoughts and feelings towards suicide, medical professionals were able to fully gauge his intentions. In short, by tactfully attempting to understand the patient in the shortest time possible, medical professionals are able to more efficiently develop a care plan uniquely suited to the patient’s particular needs. This journal article seeks to create a clear and concise body of knowledge for medical professionals on the provision of care for outpatients with bipolar disorders (Goossens et al, 2007). The study further

What ideas underpinned housing policy between 1945-79 Essay

What ideas underpinned housing policy between 1945-79 - Essay Example By the end of the century, there was massive development of the country from rural to urban society. From the period of 1945, there was substantial overhaul of residential dwellings. This influenced government of UK to look after the price, ownership and quality of residential market. After 1945, the dependence on local authorities has been increased by both conservative and labour government. 5 million households and more are accommodated with the help of social housing. After World War II, the instruments and priorities of housing policy has seen a drastic change. This essay will effectively discuss about various ideas of Housing Policy in UK that underpinned from 1945 to 1979. One billion people are still living in undesirable condition and lack shelter due to poverty. The majority of people who are lacking shelter are from developed countries. This resembles the necessity of effective housing policies to provide adequate shelter. After World War II, the economic condition of United Kingdom was totally shattered. During the year 1945, wartime union government was exhausted after the withdrawal of labour party. This eventually forced in to general election. The attitude of people has seen drastic changes. Government intervention has been increased. The adverse impact of war created a need of house. Massive number of houses has been destroyed through bombing. Under these circumstances, it required a huge overhaul on housing policy in UK. After 1945, the advancement of public housing was due to the commitment of government. Housing policy before 1945 has been stepping stone for the emergence of future housing policies. In 19th century, sanitation policies ha ve been implemented. Social disintegration and increase in rate of widespread disease has been the pivotal factor for the application of sanitation policies. In 20th century, the sanitation polices has been key influence for the occurrence of first housing policies. Since the year 1871, the local

Essay examples --

The establishments of institutional banking in Saudi Arabia date back to the First World War in 1885 when Gellatly Hankey merchants in Jeddah. Then in the late 1920’s some central bank functions were exercised by an official General Finance Agency such as the issuing of coins, the collecting and channeling of public revenue, and the management of the public debt. After that in 1932 a finance ministry was founded which exercised the roles of the General Finance Agency. Lastly The Arabian Monetary Agency (SAMA) was founded in August 1952 by two royal decrees. SAMA is the central bank of Kingdom of Saudi Arabia that was established in 23/5/1377H. The objective of this establishment was to be the central bank for the government, control banks and money changer, and to support the Saudi Riyal. SAMA set the regulations of banks in Saudi Arabia. In 6/7/1379H, 31-12-1959 the Saudi Riyal was established as the official currency of Saudi Arabia. In 22/2/1386H by a Royal Decree the Banking Control Law has issued SAMA to issue â€Å"Pre-payment Services Rules in the Kingdom of Saudi Arabia†. The...

History Coursework – The American Civil Rights Movement

Question 1a: What type of discrimination is shown in source 2? Question 1b: How does source one support what's happening in source 2? In Source 2 we see racial discrimination in the form of segregated drinking fountains for white men and black men. Source 1 states â€Å"you would eat in a separate place and use a drinking fountain labelled coloured† and in source 2 we see visual evidence of this happening. Question 2: What types of discrimination are shown in sources 1-5? In source 1 Martin Luther King tells us that the black man suffers segregation in hospitals, schools, parks, pools, waiting rooms and are treated unjustly in the courtrooms. We are told this in this source 5. In source 3 we find that vehicles carrying black passengers had to wear a colour different and contrasting to the whites'. We also find that airport facilities were segregated along with seating and betting when concerned with sport. Inter-racial boxing and wrestling was prohibited. In source on the black right to vote was denied and promotion in a job went to your white co-worker, regardless of how much more talent you had. Most blacks could only get jobs concerning menial manual labour. The formation of ghettos of blacks was encouraged and this shows discrimination in housing. In source 4 we are told that a black person fears death because she is black even more than ‘hunger hell and the devil'. This is mental intimidation. In source 5 we are told that a black woman is killed simply because she spilt a drink over a white man. This is intimidation. Question 3: How reliable are sources 7-10 as evidence of white peoples reaction to desegregation is schools? Source 7 is a limited source. This is how I came to this conclusion: The New York Times is a reputable, famous newspaper. It is renowned for its neutrality, and it thinks that segregation is not the way to go. I am forced to ask, did the newspaper cut out a pro-black section from the whole caption of text? If so, why? Would it have been to please the main readers who share the view of the newspaper? Would it have been to curry up support or more readers? (Black readers). Is the newspaper politically biased? Is it voicing its opinion through careful selection of racist sources? Is it an eyewitness account? If so, who was this witness and if not then how long afterwards was this account written and how accurate are the words in the text? Is the text taken out of context? Was this all that happened on this day? The answer is more than likely no because the conversation recorded seems only to last a few seconds. Source 8 is another unreliable source. This is because the photo could have been cut down to focus in on Eckland when something relevant could have been happening outside the frame. Photographers are sometimes biased and they might zoom in on a particular section or area in the photo that has a lesser importance than others etc. Was the photographer biased? We cannot tell for sure whether the helmeted guard is stopping Eckford from entering Little Rock or clearing whites from her path. We also cannot be sure if the people behind her are shouting abuse or support still expressions are usually very difficult to interpret, like these. The New York Times might use this image in its news report on this incident to increase support further and to please its majority audience, anti-segregationist whites. If a caption were included in this image, then it would convey a different image than it does captionless. In a caption, a writer could highlight the helmeted guard on the extreme left, the crowd behind the black schoolgirl or Eckford herself. If they presented a bad image of Eckford then it would make believable evidence (If collected from a reliable source). This source does not necessarily sum up the view of all whites, as only a small minority are shown. One could predict that a lot of whites had this same view or one could also predict that the students at Little Rock were the only racists in America at the time. Source nine is a direct, factual eyewitness account of what happened in source eight. Everything that is said is factual. There is no opinion and therefore no bias. I might ask was she really spat at or did she make that up for sympathy/pity? But if she lied, then why would she add in the part about that sympathetic white man at the end if she wants to portray a negative image of whites in general? The check up on the reliability of this source, check out sources 7 and 8. 7 tells us that the whites disapproved of the black girl going into the school and 8 proves to us that Eckford was going into Little Rock, Arkansas with a crowd of whites and a guard present. Question 4: How useful is source 11 to an historian studying segregation in the south? Source 11 is a biased source. We can tell this through the statement that was made: â€Å"segregation is desired and supported by the majority of both races in the South, who dwell side by side under harmonious conditions† This is a blatant lie. Everyone around at that time new what a lie it was. Blacks do not live harmoniously with whites in the South. Eastland defends segregation in a very open manner. â€Å"Segregation promotes racial harmony†¦segregation is not racial discrimination.† We must take into consideration that the person speaking has authority and is in the US Senate and is a Senator for the Southern State of Mississippi. A similar view to this is probably accepted by 80-90% of the southern population. White Anglo-Saxon Protestants take up most of the Southern states. This source is unreliable because of its obvious bias but it is still useful. It shows us how southern W.A.S.P.s felt; it tells us that they would try to justify the discrimination against blacks in America any way they could.. I would gamble that Eastland did not even believe the words he said during that speech. Blacks certainly wouldn't and southern Whites would see it as an excuse to continue discriminating and justifiably, in their eyes. This man objects to the supreme court ruling and the involvement of the Federal Government. To prove this here is a quote: ‘Free men have the right to send their children to schools of their own choosing, free from governmental interference.' This source does not represent all southern senators. We only have evidence that this represents one southern senator. To get the full picture we need the entire speech that he gave. He could have changed his tone further on in the speech for all we know. He is even prepared to introduce the states rights issue to win his argument: ‘ Free men have the right to send their children to schools of their own choosing, free from governmental interference.' There is a certain warped kind of logic found in his argument. It is useful because it shows us how some Whites defend segregation as a good idea. Question 5: How is the behaviour of white people towards black people shown in sources 8 and 12? Source 8 shows a crowd of Whites behind Eckford (on her way to school) shouting at her and Source 12 shows 3 civil rights supporters sitting at a lunch counter designated for Whites only, being smeared with mustard, ketchup and paint. The offending crowds in both photographs portray accurately the views of bigoted whites at the time and the victims in each photograph demonstrate the view of liberal Whites. Question 6: `Bob Dylan promoted the civil rights movement.` How accurate is this view of Bob Dylan's motives for writing `The lonesome death of Hattie Carrol?` This source induces a lot of questions such as what motives did Bob Dylan have for writing this song? His motives were more than likely for financial gain, to become famous and to convey his message to all his fans. This source lacks an essential item-Dylan's own view. It has the views of his ex-girlfriend, Joan Baez, Bernice Reagan, a black student activist from Albany and Patrick Humphries, author of numerous books on Dylan. But no Dylan. However this does not affect reliability. When Humphries criticises Dylan by saying ‘He hi-jacked the folk bandwagon to his own ends to make a career'. I think he means that Dylan used the work of others to further his career. He also implies that he is not only in it for a good image and that he is sincere. I agree to the extent that I think Dylan used the influences of folk artists but not their worl itself. He also implies that Dylan is temporarily involved in politics. Joan Baez does not doubt Dylan's motives. She says she was the politically involved one of the couple while Dylan was simply in search of fame. Contrary to this statement, Baez also states that he put his principles before profit. Because she is the ex-girlfriend of Dylan, this source is not entirely reliable. She may be bitter towards Dylan because the relationship did not work out or she may be biased against him for the same reason. Another reason could be jealousy that Dylan was rich and she was not as a result of the break-up. She would be the most likely candidate to know Dylan's motives because she was so close to him but she would also be most likely to be biased against him because their relationship failed. Reagan presumes that Dylan has integrity and is not a user. Also, she says he risked his career and that he was a power with a voice. She was impressed by Dylan and this shows he has a definite impact on people through his song writing. This song could be useful to a civil rights supporter like Bernice Reagan because it could be used, as evidence against racists and it would be a popular support for their case. Personally, I think Dylan was writing this song primarily to get the message across, very closely followed by his desire for money and fame. If it was to be a money making song he would have had it neutral or anti – Hattie Carrol because the Whites were the people who spent money on records at the time. Aiming the song at Blacks would not have been the smartest thing to do if he wanted to make money in 1930's America. Question 7: `The life of American Blacks has undoubtedly improved since the 1950's`. Using all the sources and your own knowledge, how far do you agree with this interpretation of the changes in the lives of American Blacks? Between the 50's and today, life has definitely improved for blacks living in America. They have the right to vote in both federal and state elections and were protected to vote. They had been released from the shackles of segregation and had achieved legal equality by the four civil rights acts passed in the 1960's – o 1964 – civil rights act o 1965 – voting rights act o 1967 – ruled by Supreme Court that state laws forbidding inter-racial marriages was against the constitution o 1968 – civil rights act (fair housing act) But although laws were made and systems and procedures were changed it would take a lot longer to change the minds of racist whites. These achievements however do not prove that economical and social equality exists. A lot more work needs to be done i.e. attitudes of racists white towards blacks and those of blacks towards racist whites etc. The evidence used in these sources is limited and the implications made are determined by personal interpretation and above all most of the evidence is biased either towards or against blacks. Because the evidence is biased, either towards or against blacks. Because the evidence is biased and some sources contradict others it is made very hard to conclude with this evidence. Also, concerning personal interpretation it all depends on the attitude of the historian and attitudes will change undoubtedly over the next decade or so and will probably continue to change until the end of that historian's life. Despite the improvement blacks have experienced, a lot more improvements need to be made. Source 2 is an easily analysed source. It shows a segregates drinking fountain. This is not likely to be biased but we must still ask who took the photo? , Was he/she biased? , Has he/she left anything out of the picture for any reason? Also, what was the photograph taken? It is possible it was taken for a neutral source, as there is no caption. Given the right caption, this image could have a very different meaning where the photo is concerned. Source 3 tells us of the various different forms of segregation in waiting rooms, seating where sport was concerned, transport, inter-racial boxing and in other airport facilities. It simply states what the laws were.

Community Supported Agriculture Essay - 1355 Words

Community Supported Agriculture Walking through the aisles of many grocery stores, labels such as organic, all-natural, and dairy-free describe an ever-increasing number of products on the shelf. A growing interest in healthy eating has spurred the manufacture of these commodities, but they are often so highly priced that many of the shoppers cannot justify fitting the extra cost into their budgets. In addition, though these goods have been organically produced, they may have traveled long distances to reach the shelf, increasing price and reducing their freshness, not to mention the environmental damage caused by burning fossil fuels during transportation. As a consumer, I have been searching for ways to acquire what I need†¦show more content†¦Community Supported Agriculture first came to life in Japan when, in 1965, a group of women became so disgusted with the chemical additives to their food that they began a farming philosophy called teikei. In his article, CSA Roots in Japan, published in the online journal, In context, Brewster Keen recalls the womens desire to create an alternative distribution system, independent of the conventional market (Kneen). According to Meagan Boltwood, writer for E/The Environmental Magazine, in her article More Beets for the Buck- Community Supported Agriculture is the Affordable way to go Organic, the CSA movement quickly spread to Germany, Canada, and eventually, the eastern coast of the United States. It was 1985 when Robyn Van En began the first CSA in Massachusetts (Boltwood). It may seem irrational that people would want to give a few hundred dollars towards a program where each week it is unknown exactly what or how much will have been harvested. Cynthia Cone, who studied eight different CSA farms in western Wisconsin and Minnesota with her partner Andrea Myhre, comments: Variety and quantity of specific vegetables were more problematic [than price]. 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Agriculture became more productive as the use if animal drawn plows and irrigation took hold. The first farmers planted seeds or placed roots in the soil with technique called swidden or slash and burn. They would slash large trees cut down the underbrush and

Essay History of Propaganda in Art - 861 Words

Throughout history, the purpose of art is dedicated to anything from decorative embellishments to religious tributes. However, art was also used by rulers and other powerful figures for propagandistic reasons as well. This can be seen through a survey of art pieces ranging from the Hellenistic period to the Ottonian period. At the beginning of the Hellenistic period Alexander the Great had just passed away, leaving his vast empire fragmented amongst many individual leaders. Many of the Greeks left the Balkan Peninsula to seek commission abroad, thus forsaking their identity and ties to the old Greek city states. The result was a greater focus on the individual, a psychological sense of isolation, as well as a mixture of foreign and†¦show more content†¦The body of the chieftain is particularly exaggerated creating a forceful rippling in the musculature, which is a testament to the Hellenistic Baroque achievement of energetic movement and intense psychological involvement. T he Greeks were largely impressed with the courage and fighting abilities of the Gauls, which had reminded them of their defeat of the Persians. Ultimately, the purpose of glorifying their enemy was to convey the message that the defeat of such an impressive enemy made the Greeks’ victory and power even greater. During the Roman Imperial era, under the rule of Augustus, the idea that the emperor is the principate, or the foremost citizen of the state chosen by the gods to rule, is adopted. This idea is exemplified in the sculpture of Augustus of Prima Porta. Here, Augustus is portrayed in a classicizing manner and a typical Greek contrapposto stance which serves to liken the reign of Augustus to that of the golden age of Classical Athens. This style which had been used to portray great heroes during the Greek Classical era also serves to liken Augustus to the Greek heroes who were idealistically athletic and strong (desirable qualities in a leader). 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Charles Marius Barbeau’s Ethnography and the Canadian...

Charles Marius Barbeau’s Ethnography and the Canadian Folklore Born on 5 March 1883, in Sainte-Marie-de-Bauce, Charles Marius Barbeau is widely seen as the first Canadian educated anthropologist. He graduated from Università © Laval in Quà ©bec, from his studies of law, in 1907; he never practised law. Upon graduating, Marius was awarded – as the first French-Canadian recipient – the Cecil Rhodes scholarship which allowed him to study at Oxford University where he was introduced to the emerging field of Anthropology.  « Je [voulais] savoir comment l’homme a à ©tà © crà ©Ãƒ ©  » he later explained to Marcel Rioux. (Benoà ®t 1959a) During his stay in Europe, Marius also attended classes at the Sorbonne’s École des Hautes Études and at the École†¦show more content†¦But his sometimes contradicting statements require a more precise study, so we will simply present his main positions, and state some of the opposing points without thoroughly analysing them. Marcel Mauss – whose classes Barbeau attended – concludes in a 1902 document on ethnographic method:  « En somme, rester cantonnà ©s sur le terrain des faits religieux et sociaux, ne rechercher que les causes immà ©diatement dà ©terminantes, renoncer à   des thà ©ories gà ©nà ©rales qui sont peu instructives ou qui nexpliquent que la possibilità © des faits, ce sont là   plutà ´t des actes de prudence mà ©thodique que des nà ©gations scientifiques.  » (Mauss 1902) In the same line of thought, Franz Boas – the famous American anthropologist, also a contemporary of Barbeau – stresses the need to focus on collecting data. He even criticizes social and anthropological theory makers. (See Boas 1920) Barbeau was, at the beginning of his career, much influenced by these ideas. He collected data on many aboriginal societies – mainly of the Northwest Coast, of Quà ©bec and of the North of the USA – and later, at the suggestion of Bo as, he started recording folk songs, legends and myths from French-Canadians. But we will see that Barbeau did advance some quite controversial theories later in his career. This collecting of folkloric data opened Barbeau’s eyes to the need to salvage the cultures of Native and French Canadians alike.  « Fortement inspirà © par l’ethnologie de la

Financial analysis of BG and Shell Free Essays

INTRODUCTION According to the requirements stipulated in this assignment, this essay would be analysing two companies: BG group Plc and Royal Dutch Shell Plc. Both companies are oil and gas producers and they operate in the integrated natural oil and gas industry. They are involved in the exploration, development, production, and marketing of gas and oil. We will write a custom essay sample on Financial analysis of BG and Shell or any similar topic only for you Order Now They are both quoted in the oil and gas industry sector of the FTSE 100 index. a. Background of the Oil and Gas Industry Over the last 50 years, the oil and gas industry has been by far the most successful industry in Britain; providing employment to 380,000 people, adding ?4 billion a year to balance payments and a massive investment over the last 25 years by ?150 billion. This sector has reinforced the British economy by supplying the energy and necessary chemicals for its transport industry and homes. Additionally, since the 1970s, the oil and gas industry generated ?150 billion in taxes and valuable export revenues. b. Royal Dutch Shell Royal Dutch Shell is a Multinational corporation consisting of two companies: Royal Dutch Petroleum Co., of Hague, Netherland, and Shell Transport and Trading Corporation PLC of London, England. These two companies commenced as rivals. In early 1897, Marcus Samuel took over his father’s business and began selling kerosene. After this, he shifted to the oil industry in East Asia and created Shell Transport and Trading Co., Ltd. At same time, in 1890 the Royal Dutch Co was established by a group of Dutch businessmen (Mallin, 2006). The aim of the company was to explore the Oil Wells in the Dutch Indies. To achieve these targets, in 1892 it constructed the first refinery in Sumatra, Indonesia. It was not until 1907 when the two firms merged to become the Royal Dutch Shell Group. The company has become known in different countries such as Egypt, Mexico, Iraq, Romania, Russia and Venezuela. Shell emerged as the largest energy company and the second largest company globally regardin g its revenues. The main interests of this company are liquefied natural gas and petrochemicals, aviation, shipping, and automotive fuels. c. BG group Plc. BG Group plc is one of the most successful companies in the FTSE 100 index. It operates in the integrated natural oil and gas market and engages in the exploration, development, production, and marketing of gas and oil. The company’s headquarters is in Thames Valley Park in Reading, Berkshire, United Kingdom. It is an international firm which operates in 25 countries across the world and produces 680 000 barrels of oil per day (Jahn et al., 2008). The company was founded in 1997 when British Gas plc divested Centrica and became BG plc, which was reorganised in 1999 as BG Group plc (Bryant, 2003). Question 1: Analyse the liquidity, profitability and use of short term assets and liabilities of the two companies you have chosen and compare the ratios with the sector average and explain how the two shares have performed compared with the FTSE during the last financial year. In order to assess the liquidity situation of both companies along with profitability condition, different liquidity ratios have been analysed based on the companies’ annual reports 2010 and Yahoo 2011 financial website for the year ended 2010. The liquidity ratios of BG group and Royal Dutch Shell are illustrated in Figures 1 and 2 (for full tables see the Appendix). Royal Dutch Shell has maintained relatively stable current and quick ratios. Current ratio illustrates whether or not a company maintains enough resources to pay back its debts over the coming financial year (Watson, 2006). It is determined by the ratio of net current assets to net current liabilities. For Shell company the ratio increased by 7.45% over the 5 years period. Furthermore, the current ratios of the last five years exceeded one, which proved that Royal Dutch Shell would be able to honour all its short-term liabilities by its current assets without the need to utilise other sources; such as issuing shares or using new debts. Therefore, this gives clear evidence that the firm’s liquidity situation is in excellent health. The quick ratio represents the ability of a firm to utilise its cash/assets to cover its current liabilities instantaneously , which is calculated as a ratio of total assets to total liabilities. This has fallen by 8.87% over the past five years to 1.8669 in 2010. In 2010, the current and quick ratios of Royal Dutch Shell were 1.1227 and 1.8669. These are below the average ratios of the company over last five years: 1.15694 and 1.88726 respectively. This ideally shows that the liquidity of the company has been slightly decreasing in recent years. Figure (1): Current and Quick ratios of Royal Dutch shell over the last 5 years On the other hand, the quick ratio of BG group has also decreased over the last five years; it began with 2.13 in the first period and decreased to reach 2.0389 in 2010. Moreover, the current ratio also diminished from 1.4684 to 1.1214. One reason could be that the reduction in the firm’s liquidity is as a result of the major issues that have affected the oil and gas industry recently. For instance, the oil spill in Mexico, and the massive impact on BP and other oil companies caused cost of drilling and exploring call in certain regions to rise. Figure (2): Current and Quick ratios of BG group over the last 5 years According to Watson (2006) having a liquidity ratio over one is not enough to assess whether a firm would have difficulties to confront any short term risk arising from the liabilities and, for this reason, the company’s current ratio should be compared to the overall industry or sector average ratio. Hence, after comparing the current ratios of both companies to the average of eight leading companies in major integrated oil and gas industry (see Appendix), the two companies hold almost the same amount of current ratio (1.12). However, they were below the average ratio of the industry by 8%. In a conventional industry, if the current ratio is over one then it is a good indicator. However, in major integrated oil and gas industries the average ratio is 1.2 which imposes on the two companies to adjust their ratio, or else they will face increasing threat of being cash strapped if they are not able to increase profitability, cash flow or reduce liabilities. The profitability ratios of Royal Dutch Shell Plc and BG group Plc were calculated based on its ROE, ROA, profit, operating and gross profit margin. These were all compared to the average industry in order to draw an accurate representation of the companies’ financial situation. For both companies, Return on Equity and ROA exceeded the average sector by 1.63 and 2.62 for BG group Plc, and 1.7, 0.33 for Royal Dutch Shell Plc respectively. However, BG group Plc overperformed Royal Dutch Shell Plc and industry regarding the profit and operating marginal, but both companies were overtaken by the industry gross profit ratio. Profitability ratios attempt to determine a company’s ability to use and control its assets and expenses in a rational manner to generate acceptable rate of return (Buckley, 2004). Based on the ratios calculated, both companies have been able to improve their profitability sufficiently over the average sector ratios. In summary, both companies are liquid firms and have been able to withstand the effects of the oil spill and oil price increases through effective cash management. They have constant and above average liquidity ratios, positive networking capital and acceptable profitability ratios. Figure (3): Percentage change in stock price for BG group, Royal Dutch Shell and FTSE 100 index Key: BG.L (blue): BG group Plc; ^FTSE (red): FTSE 100 index; RDSA.L (green): Royal Dutch Shell plc. Source: Yahoo Finance (2011) As illustrated in Figure (3), the stock market prices of BG group and Royal Dutch Shell fell during the middle of 2010, specifically in early May. The oil spill by BP in Mexico had hugely deteriorated the market value of both stocks. However, the stocks of both companies tended to increase after the oil spill issue was solved. Moreover, the stocks of both companies and FTSE 100 seem to move in same manner to reach their peak by the end of 2010. In the beginning of 2010, both companies and FTSE100 stocks were moving in very close way, but the Mexico’s oil disaster caused investors to walk away from investing on oil companies’ shares. By the end of August 2010 stocks of both companies started to rise, along with FTSE 100, and by the end of 2010 all stocks of both companies and FTSE 100 reappeared to move in the same way but with higher values. Question 2: Critically evaluate each firm’s choice of capital structure and how their method of financing has affected shareholder wealth and explain whether or not it is possible for a company to have an optimum capital structure. The capital structure of a company, as defined by Fridson and Alvarez (2002), as the ratio to which the company’s operating, financing or investing activities are financed through debt and equity. It is simply a ratio of the company’s debt to its equity, otherwise known as gearing or leverage. The capital structure determines the long term functioning capacity and also its attractiveness to banks and investors (Watson and Head, 2006). Consequently, the capital structure is an indicator of the company’s financial fitness. As illustrated in figure 4 below, Royal Dutch Shell’s capital structure is based mostly on equity. Its gearing has fallen to over 85% in 2010, compared to 87% in 2009. This is due to falling profits. However, the amount of equity is five and half times the amount of debt. Therefore it represents a low geared company that relies on equity to finance a vast majority of its activities. Figure 4: Comparison of the capital structure for Royal Dutch Shell between 2009 and 2010 A company that is considered as low-leveraged has complete freedom in its operations without the need to be concerned about issues that debt may have due to inaccessibility to future credit. Figure 5: Capital structure of BG group Plc between 2009 and 2010. Examining BG group Plc’s capital structure above shows that its gearing has increased by 4.8% to move up to 25.2% in 2010. The balance sheet therefore shows that it has changed its capital structure by increasing levels of debt from $19.212 billion to $23.615 billion, as well as also increasing shareholder equity from about $23.23 billion to over $26.684 billion in 2010. However, the debt increase exceeded the equity increase, thus resulting in a debt/equity ratio increased (BG group Plc, 2010). Furthermore, analyses of the company’s financial annual report illustrates that it has issued ˆ750 million and ?750 million of bonds maturing in 2019 and 2025 respectively. Both of these are under the euro medium term note programme, and $350 million and $650 million of bonds maturing in 2015 and 2020 respectively could be taken as strong evidence that the company has shifted its system of rising money from equity to debt by issuing bonds. Therefore, measuring BG group’s capital structure based on its ability to repay future debts may be difficult due to the massive bond issues, which considerably exceeds the net amount raised from equity. Judging by the current credit markets in which loan provisions are scarce and conditions for getting one are hard, BG would have slightly more difficulties than Royal Dutch Shell in obtaining working capital or long-term loans. Though its capital structure does look healthy from an external point of view, comparing the average sector debt to equity ratio which was 37.45% in 2010, both companies are in excellent positions as both of them are far away from any risk of interest rate volatility. Therefore, a good conclusion could be drawn about the ability of both companies to meet interest repayments, and to operate in an efficiently manner to expand their business as a result of their relatively low liabilities. As mentioned, Fridson and Alvarez (2002) state that capital structure refers to the manner in which an organisation finances its assets; this could be either by combination of equity, debt, or hybrid securities. The relationship between capital structure and company value has fuelled the researcher’s interests to conduct more research on this area. According to literature, the debate has concentred on whether there is an optimal capital structure for a firm or the proportion of debt used in constructing the capital is irrelevant to the firm’s value. The Modigliani-Miller theorem states that under a certain market characteristics such as: price random walk, in the absence of taxes, agency costs, asymmetric information, and bankruptcy and in an efficient market, the proportion of debt which has been used by company will not affect its value moreover it does not matter how the firm is financed (issuing stocks or selling debt). The Modigliani-Miller theorem is generally called the â€Å"capital structure irrelevance principle†(Hatfield et al., 1994). The aim of this theory is to establish capital structure which balances the risk of bankruptcy with the tax savings of debt. Therefore, it would provide better returns to shareholders than they would receive from an all-equity firm. Despite its theoretical appeal and all efforts behind it, academics and practitioners in financial management have not found the optimal capital structure yet. The only prescription that could be achieved is to satisfy short-term goals. The main flaws of this idea are that it fails to consider either the complexities of the competitive environment, or the long-term survival needs of the organization. According to Welc (2008): â€Å"The fact that an optimal capital structure has not been found is an indication of some flaw in the logic. We believe that the original question was framed incorrectly. Rather than: What is an optimal mix of debt and equity that will maximize shareholder wealth; it should have been: Under what circumstances should leverage be used to maximize shareholder wealthWhyBecause debt and equity have profound long-term implications for corporate governance that far exceed the exigencies of the moment.† Question 3 Explain whether or not the share price on the 5th of November represents fair valuefor would be investor and explain whether or not the investor ratios give a guide as to the future share price. Critically evaluate the arguments for and against the efficient market hypothesis and explain how the npv criteria relate to investing in shares. The term, â€Å"market efficiency†, has always been a fundamental concept in the financial literature. It describes the decisive impact of information on the price of financial assets and economists refer to it as operational efficiency, highlighting the way resources are utilised to ease the workings mechanisms of the market. However, the most common definition was provided by Fama (1970) who stated that at any given time, securities’ price on a particular stock market fully reflects all the available information on this stock market. Hence, according to the efficiency market hypothesis (EMH), all investors have access to the same information that is already available on the market; therefore, no advantage is taken from private or inside dealing information. In other words, market efficiency reflects the impact of changes in information about a given security on its price. Favourable information is expected to result in an immediate increase in a security price while u nfavourable information will have the opposite effect. The efficient market hypothesis is linked with the term â€Å"random walk† which has been used in the financial literature to refer to a price series where all changes in the prices reflect a random change, regardless of previous prices. This concept emerged from the works of Kendall (1953) and Roberts (1959) where, after analysing the UK stock and commodity prices series and the US stock market, they found clear evidence that the prices change randomly. The logic behind the random walk concept is that if the information is instantly reflected in stock prices, then the day after any price change would only reflect the news of that day and will be independent of the price change of previous day. According to the unpredictability of the news, the price changes must therefore be unpredictable and random. Hence, this statement implies that the investor would achieve the same result of buying and selling securities by himself as by the experts. It was in the early years of the twenty-first century when many financial economists and statisticians started doubting that stock prices could be accurately predicted by emphasising the psychological and behavioural character of stock price determination. Moreover, these financial experts believed that future stock prices can only be slightly predictable based on the patterns of past stock prices and certain fundamental valuation metrics. However, some economists exaggerated by stating that these predictable patterns would allow investors to reap benefits from reducing risk and increasing the levels of return of their securities. In order to assess whether the price of share for both companies fairly reflects the information available in the market, at 5th November 2010, a comparison was provided for the both stocks one week before and after that day (the result depicts in figure 5): Table (1): stock prices of BG group and Royal Dutch Shell Stock 1st November 2010 5th November 2010 8th November 2010 Closing price Day’s change Closing price Day’s change Closing price Day’s change BG group ?12.11 -0.05 ?12.9 -0.04 ?12.7 -0.14 Royal Dutch Shell ?20.16 +0.17 ?20.44 -0.10 ?20.26 -0.18 Source: Financial Times 2011 It is clear from table (1) that over the period of one week before and after 5th November 2010, the prices of both companies’ stock have moved relatively in stable manner. Moreover, regarding the available public information at that point, the prices of the stocks fully and fairly reflected all the information and data that was available which confirms that the UK stock market is an efficient market where all the past and available information is already reflected on its prices. As the UK stock market is a developed market, the market is meant to be efficient. Therefore stock prices are expected to reflect all past and public information. So when investors invest money on BG group or Royal Dutch Shell stocks, they would obviously take its past performance into account. As it has been found in the previous question, both companies have outperformed the average industry in term of ROE, ROA and book value per share (see table (2) in appendix) which should ideally encourage prospective investors to invest in those companies. This would make their stock more attractive to investors. One of the most commonly used techniques in finance is the Net Present Value (NPV). The NPV represents the expected change in the value of the firm in current time if a project is accepted. NPV adopts the time value of money principle in calculating all investments, which depicts that the cash flow on an investment is discounted based on the cost of capital, which decreases over the period in which the project is active (Watson and Head, 2006). Under the efficient market hypothesis EMH assumptions, the price of a random share in the market has to be allocated on the Security Market Line (SML) or Capital Market Line (CML), therefore the share prices is consistent with share asset market values (intrinsic values) so theoretically it is meaningless to conduct any earned value analysis â€Å"EVA† (NPV and investors ratios). Share price allocated on the SML/CML by definition will have net present value NPV equals to zero and cost of capital equals to the internal rate of return, in which any evaluation of this measurements would be useless because EVA must equals zero. Since NPV measures the present value of any future cash flows, in an EMH world, NPV attempting to calculate a measurement which has already been reflected on the share price. Arbitrage theory ensure that any abnormal profit should not exist or occur, if the earned value analysis EVA were to be observed, it should occur in random value or statistically non-s ignificant and the positive earned value analysis should be offset by negative earned value analysis (Chen, 2001). Furthermore, in an efficient market world it is unlikely to earn excess returns consistently. Thus within the logic of this theory EMH, earned value analysis which consists of calculating the investors’ ratios and NPV is a fiction and useless. In conclusion, the price of the both companies appears to be fully and fairly reflected in all the data and available information, such as investor’s ratio (ROE, ROA and the positive NPV value). Therefore, investors cannot beat the market price under the efficient market hypothesis assumption even though the investor ratios and NPV show the attractiveness of the stock because the price of share is already reflect all the past information (ratios and NPV) Bibliography BRYANT, L. 2003. Relative value relevance of the successful efforts and full cost accounting methods in the oil and gas industry. Review of accounting studies, 8, 5. BUCKLEY, A. 2004. Multinational Finance, Pearson Education. CHEN, S. A. J. L. D. 2001. Operating Income, Residual Income and EVA: Which Metric is More Value Relevant. Journal of Managerial 65-86. CAPITAL STRUCTURE: THE EFFECT OF FIRM AND INDUSTRY DEBT RATIOS ON MARKET VALU. Financial And Strategic Decision, 7. FRIDSON, M. S., AND ALVAREZ, F. 2002. Financial statement analysis: a practitioner’s guide, John Wiley and Sons. FAMA, E. F. 1970. Efficient capital markets: A review of theory and empirical work. The journal of finance, 25, 383. HATFIELD, G. B., , L. T. W. C. , A. W. N. D., III 1994. THE DETERMINATION OF OPTIMAL HAUSHALTER, G. D. 2000. Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers. The Journal of Finance, 55, 107-152. HEMINGWAY, R. W. 1971. Law of oil and gas. KENDALL, M. 1953. The Analysis of Economic Time Series. Journal of the Royal Statistical Society, Series A, pp. 11-25. JAHN, F., COOK, M. GRAHAM, M. 2008. Hydrocarbon exploration and production, Elsevier. MALLIN, C. A. 2006. International corporate governance: a case study approach, Edward Elgar Pub. MONEY, C. 2011. A Time Warner Company ALL RIGHTS RESERVED [Online]. Cable News Network. [Accessed 29/04/2011 2011]. ROBERTS, H. 1959. Stock Market `Patterns’ and Financial Analysis: Methodological Suggestions. 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Appendix Table (2): Represents the financial ratios of the 8 companies in the industry BP Plc (BP.L) Petroleo Brasileiro SA Petrobras (APBR.BA) Exxon Mobil Corporation (XOM) Royal Dutch Shell PLC BG Group PLC (BG.L) Total SA (TTA.L) ConocoPhillips (COP) Encana Corporation (ECA) average industry Profit Margin -1.25% 16.50% 8.89% 5.47% 19.52% 7.53% 6.46% 1.24% 8.05% Operating Margin -4.58% 22.21% 12.01% 7.48% 34.11% 14.19% 7.99% 6.11% 12.44% Return on Equity: -3.36% 15.05% 23.43% 14.22% 14.15% 18.83% 17.34% 0.50% 12.52% Return on Assets -3.35% 6.80% 9.60% 5.60% 7.89% 9.18% 5.69% 0.78% 5.27% Current Ratio 1.16 1.88 0.94 1.12 1.12 1.42 1.26 0.67 1.20 Total Debt/Equity 47.28 38.01 9.83 29.60 36.37 49.69 41.39 47.41 37.45 Revenue Per Share 95.02 27.51 70.13 120.03 25.39 62.86 118.81 9.49 66.16 Gross Profit Margin 16.46 53.80 43.63 13.53% 25.39% 29.26% 29.74% 88.84% 38% Book Value Per Share 30.33 29.95 29.49 48.10 38.87 27.00 47.92 22.97 34.33 Total Cash Per Share 6.42 5.50 1.58 4.37 3.74 6.88 7.91 1.10 4.69 Table (3): Represents the liquidity ratios of BG group and Royal Dutch Shell over last 5 years Ratios Company 2010 2009 2008 2007 2006 Quick ratio Royal Dutch Shell 1.8669 1.8967 1.8393 1.8778 1.9556 BG group 2.13 2.2091 2.0637 1.9159 2.0389 Current ratio Royal Dutch Shell 1.1227 1.1376 1.1046 1.2226 1.1972 BG group 1.1214 1.10125 1.0542 1.3041 1.4684 Net working capital Royal Dutch Shell 12342 11668 11041 21013 15137 BG group 1079 104 506 2351 2584 Net profit Royal Dutch Shell 20127 12518 26277 31331 25442 BG group 3532 3462 5907 3460 3198 Figure (5): The Net profit of the two companies Figure (6): Net working capital of the two companies Table (4): The financial ratios of the two companies in 2010 Financial ratios Formula BG Shell Profitability ratio Tax Burden Net Profit/Pre-tax Profit = 3500/5730 = 61.08% = 20474/35344 = 57.93% Interest Burden Pre-tax/EBIT = 5730/5562 = 103.02% = 35344/36340 = 97.26% Margin EBIT/Sales = 5562/17166 = 32.40% = 36340/368056 = 9.87% Turnover Sales/assets = 17166/50299 = 34.13% = 368056/322560 = 114.10% Leverage Assets/Equity = 50299/26684 = 188.50% = 322560/149780 = 215.36% ROE Net Profit/Equity = 3500/26684 = 13.12% = 20474/149780 = 13.67% Return on asset ROA Net Income / total asset = 3500/50299 = 6.96% =20474/322560 = 6.35% Net gearing Net debt / equity = 23615/26684 = 88.50% = 172780/149780 = 115.36% Basic earning power ratio EBIT / Total asset = 5562/50299 = 11.06% = 36340/322560 = 11.27% Liquidity ratio Current ratio Current assets / current liabilities = 9965/886 = 112.14% = 112894/100552 = 112.27% How to cite Financial analysis of BG and Shell, Essay examples