A Summary Essays

A Summary Essays A Summary Essay A Summary Essay Have numerous individuals been fascinated in musings that the manner in which the article is composed and conveyed impacts that reality whether the writer will have the option to convince individuals or not? In addition, the contention the creator presents in the work is one of the most significant components that characterizes the notoriety of his/her methodology among individuals concerned. The article by Amartya sen â€Å"A World Not Neatly Divided† is perhaps the best case of the great association of the contention. The primary explanation that Amartya Sen makes in this article is as following: when attempting to pick up knowledge into different clashes that happen these days and that happened previously, numerous researchers and lawmakers bolster the â€Å"civilization approach† (Sen 1). At the end of the day, individuals are viewed as just from the strict perspective (Sen 1). For example, people are isolated into â€Å"the Western† and â€Å"Islamic† words (Sen 1). In any case, Amartya Sen continues that as in each nation there are agents of different nationalities, it is difficult to sum up all individuals just to one class, for example, Muslims (1). Moreover, another supporting data is that in each country there are individuals who are nonbelievers or bolster the strict convictions of another strict gathering that can be not all that large as the principle one; nonetheless, it is additionally vital for understanding the nation and individuals all in all (Sen 1). In rundown, Sen expresses that as each individual has his/her own characteristics of character, influences, convictions, and individual history, it isn't sensible to clarify people groups activities just from the perspective of developments (2). Spreading such methodology among individuals, such people increment the likelihood of wars (Sen 2). But pugnacious papers, there are is additionally a lot of different expositions that are utilized in various fields for different purposes, including correlation, basic, differentiate, exploratory, account, and different articles. Pugnacious articles are intriguing in light of the fact that so as to convince individuals to take a particular stand, it is essential to state the same number of contentions as it is conceivable; in any case nearly no one will trust you. Further, to set up a decent factious exposition, it is basic to gain proficiency with the subject brought up in the article profoundly. Therefore, before distributing such a work, the creator makes an intensive investigation.

Buried Child Essay

It speaks to the fracture of the American family unit in a setting of dissatisfaction and thwarted expectation with American folklore and the American Dream, the 70s rustic monetary log jam and the breakdown of conventional family structures and qualities. It mirrors the all inclusive dissatisfactions of American individuals. The postmodern style of this play fuses oddity and imagery. Oddity is a piece of the play. The utilization of images, for example, the downpour and the corn give the play a symbolist component. The silliness is additionally a fundamental component. All these complex components give the play a postmodern vibe. Diversity and distrust have likewise to do with postmodernism. Evade + Halie = Tilden and Bradley Tilden has child Vince whose sweetheart is Shelly The character of Ansel: he is the child that Halie venerates as an All-American legend in spite of his demise. Tilden and Bradley: both fizzled their parents’ desires. Both are required to assume control over the homestead or if nothing else care for their folks in their mature age. Anyway both are incapacitated: Tilden sincerely and Bradley genuinely. They can't enjoy their folks and accordingly incapable to do the American Dream. Tilden: he has no reason, no course in his life. He engaged in sexual relations with his mom. (Vince) Bradley: forceful, lost his leg. He Is undermined by the evacuation of his leg. Avoid: felt the disappointment of the ranch and the family. He neglected to make the homestead effective. He is a heavy drinker. He has been weakened by his child and the fruitlessness of his fields. The Priests mirrors the breakdown of profound quality and morals in America. The demonstration of inbreeding and the homicide breakdown the family esteems. It’s a broken family.

Disagree Essay Better Life than Our Parents

Sample TOEFL Agree/Disagree Essay Better Life than Our Parents The QuestionDo you agree or disagree with the following statement? In my country, young people have a better life today than their parents enjoyed when they were young. Use reasons and examples to support your answer.Note: This essay uses our TOEFL essay templates.Special Offer: TOEFL Essay Evaluation and ScoringYou can now sign up to have your practice essays evaluated and scored by the author of this web page. Its a great way to learn how you will do before test day and how you can best prepare for the test. Sign up today.The Sample EssayThe world has changed in many since my parents were young. In my opinion, my lifestyle is superior to the one they enjoyed at that time. I feel this way for two reasons, which I will explore in the following essay. First of all, my generation enjoys a lot more leisure time, which makes our lives more fulfilling and enables us to follow our passions. People today take longer vacations and have more paid time off from their jobs than either of my par ents did while they were still employed. Similarly, we have much shorter working days than they did. For example, nowadays I receive five weeks off from my job each year. I can schedule these holidays as I wish, and even use all of my vacation days at the same time. As a result, I have been able pursue my love of travel. Unlike earlier generations, I have been able to maintain steady professional employment for my whole life so far, and have also been able to visit every continent on earth. My parents, in contrast, were only able to travel following their retirement. At that time, however, their age and physical conditions limited their range of experiences.Secondly, society provides many more opportunities for women and minorities these days. In the past, disadvantaged groups had a tough time achieving personal and professional success. While this is still something of a concern, it is now much easier for members of such groups to follow their dreams. My own experience, is a compel ling example of this. When I was a young woman I was encouraged to attend university and later enter the workforce. On the other hand, my mother was expected to raise children and be a homemaker. She dreamed of being a business executive and making a lot of money, but her parents and teachers discouraged her from doing that. Unlike me, she was pressured to give up all of her professional aspirations. Her example demonstrates why my life is preferable to the life which she lived when she was young. In conclusion, I strongly believe that I have an easier and better life than my parents had just a few decades ago. This is because I enjoy much more leisure time than they did, and because women today have many more opportunities than they did in the past. (392 words)

basketball is life - 3660 Words

T = Topic Sentence. The first sentence, which outlines the topic of the paragraph. Example topic sentence: By the end of the novel Charlie has undergone a number of experiences which help to teach him that friendship is one of the most important things needed to grow up and cope with becoming a man in a difficult world. E = Examples / Evidence (from the novel). This could be a reference to an event that occurs and which helps you to explain your point or it could be a quotation from the book. A good body paragraph will have at least one quotation PLUS two other examples to support the key idea in the paragraph. E = Explanation : For each piece of evidence you provide, you need to explain how your evidence is RELEVANT to your argument†¦show more content†¦DO NOT include any new points. Just summarise your 3 main points from the body paragraphs â€Å"It is clear that†¦. †¢ Charlie grows up by getting a job for Squizzy †¢ Charlie realises that the people he is taking money from just like he and ma †¢ Charlie becomes a man by standing up to Squizzy Taylor †¢ Stripped of his childhood the main character in the novel runner learns to be a man at just the age of 15. Proudly leading his family his neighbours and his best friends Norman Heath out of poverty. †¢ STEP FOUR: WRITING YOUR ESSAY Now it’s time to write your essay. Use your plan to put it together. If you’ve done all the previous steps, it should be easy. Remember to use the TEEL format to put your body paragraphs together. The Runner by Robert Newton ESSAY TOPIC: ‘†¦it wasShow MoreRelated Basketball and My Life Essay984 Words   |  4 PagesBasketball and my life I have throughout my whole life been playing sports. I still play basketball competitively and now it’s at the university level. Basketball though was not my first love when it came to playing sports. It has though become my true focus since junior high school. Coming from Canada everybody plays hockey. Its almost as if as soon as you learn to walk you learn how to skate. Whether it is at the recreation centre or at the shinny rink around the corner everyone playsRead MoreLife Is Like A Basketball Court803 Words   |  4 Pagesâ€Å"Life is like a basketball, it bounces up and down.† I love basketball. I feel affection for the taste of victory, when you win a game. However, I also find losing a worthwhile experience. I worship the feeling where you score a point. It’s slow motion at first, as you gaze at the shot you’ve made, wondering if it is going to manage. Then the taste of your salty sweat and the sound of your pounding heart are back in acti on. *Swoosh* the ball rapidly swirls into the hoop and falls through the netRead MoreBasketball Is A Way Of Life For Several Individuals It1598 Words   |  7 PagesBasketball is a way of life for several individuals; it actually would be a â€Å"crime† to assume that this sport only matters to a few sets of people. Keeping this in mind, the saying, â€Å"Ball is Life† must immediately come to mind since it describes the seriousness of the sport to those active within its realm. It is the highly competitive nature that draws individuals to the sport. Competitiveness and the desire to acquire professional level skill is what brings the young students to Bracy’s BasketballRead MoreLife Of Standout Basketball Player Michael Brooks Essay799 Words   |  4 PagesUniversity on Saturday to remember and celebrate the life of standout basketball player Michael Brooks. Brooks, 58, passed away on August 22, 2016 and had a storied basketball career. His basketball playing days began at West Catholic High School and continued in the Sonny Hill League as he played with guys such as Gene Banks and Louis Lloyd. Brooks then went on to play all four years at La Salle, was named to the 1980 United States Olympic men’s basketball team and played professionally in the NBA andRead MoreWhy Basketball Is A Big Part Of My Life1467 Words   |  6 Pagesplaying basketball. Seems cliche but it’s the literal truth. My love for the sport is unexplainable however I’ll try a synopsis. Improving physically and mentally as I play, building camaraderie with my teammates, and being able to separate myself from my life problems when I’m on the court, are all reasons to why basketball is a big part of my life. As with everything else in this beautiful world of ours, the bad always juxtaposes the good. It is no surprise that the why you play baske tball? Are youRead MoreBasketball Is More Than Just A Sport1378 Words   |  6 PagesDaniel Cooper AP English Mr. Cohen 9-24-14 Senior Project Basketball is more than just a sport Dwayne Wade was born January 17, 1982 in Chicago, Illinois. Most people see Wade as just an NBA star who has a lot of money, but most people don’t know the full story of what he has been through in his life and how he got to the NBA. When Wade was born, his parents separated a short while after and custody was given to his mother. Then because of the crime in Chicago andRead MoreHigh School And College Basketball1306 Words   |  6 Pagesdecision to go to the National Basketball Association should be solely in the hands of the players and although current efforts ensure that basketball players are in college for at least one year, the one-and-done rule needs to be revised because it destabilizes the college basketball system, leaves players without a backup plan, and causes players to lack the wisdom to make wise financial and life decisions. The one-and-done rule concerns high school and college basketball players, but it hurts moreRead MoreJohn Updikes Poem Ex-Basketball Player1225 Words   |  5 Pages Ex-Basketball Player Most everyone has had an extraordinary dream; for some, it is to be a movie star or to be on a professional sports team. Nevertheless, while great goals they are, they are not likely. For example, about 1 and 70,000 people become a major movie star (study.com). Additionally, the likelihood of entering the NBA from high school is 3 and 100,000 (ehow.com). Therefore, the great majority are obligated to find something else to pursue. As a result of peoples dreamsRead MoreEx-Basketball Player by John Updike Essay1044 Words   |  5 Pagesof the basketball team? He still holds most of the records for the team. He scored more points than anyone else in the school’s history. He never studied much because he was an athlete. His basketball skills were going to take him places. But high school ended and there are no more games to be played. Where is that former all-star now? In his poem â€Å"Ex-Basketball Player,† John Updike examines the life of a former high school basketball star. Flick Webb was a local hero, and he loved basketball. He neverRead MoreBasketball Is A Sport For The Campus Of Eastern Michigan University ( Emu )1145 Words   |  5 PagesBasketball is a sport that requires a lot of time and effort to be good at. It’s a sport that keeps some people in shape, some people involved with a community, and gives others an opportunity to meet new people. The recreation basketball community I am looking into is the one on the campus of Eastern Michigan University (EMU). Every day there is a multitude of people playing basketball in either the Recreation Center (REC) or on the courts outside of the student center. The people that make

Plastic Surgery A Moral Standpoint - 1014 Words

Almost everyone you know knows someone who has had â€Å"work† done. Whether you agree with the decision or not, you assign a judgment as to why they had plastic surgery. There are numerous sources sharing statistics on plastic surgery, and surgery.org shares, â€Å"In the past year, plastic surgeons performed nearly 14 million cosmetic procedures with total surgeon fees exceeding $10 billion. †¦ The number of cosmetic procedures for women increased over 252% from 1997. The top five surgical procedures for women were: breast augmentation, liposuction, tummy tuck, eyelid surgery, and breast lift.† It raises the question, why are so many people turning to plastic surgery? The bigger question is does it matter why? We should not judge from a moral standpoint those who to choose to have plastic surgery, as there are many unseen factors which influence the decision. As members of The Church of Jesus Christ of Latter-day Saints, we have been taught our body is a temple. We have repeatedly been told to not get tattoos or do other things to our body to destroy our â€Å"temples.† Elder D. Todd Christofferson said in the October 2010 General Conference, â€Å"Acknowledging these truths and the direction of President Thomas S. Monson in last April’s general conference, we would certainly not deface our body, as with tattoos; or debilitate it, as with drugs; or defile it, as with fornication, adultery, or immodesty.† A simple search on LDS.org shows many talks given over the years about theShow MoreRelatedThe Ethics Of Cosmetic Surgery1264 Words   |  6 PagesThe Ethics of Cosmetic Surgery Cosmetic surgery, a type of elective surgery undertaken to alter a person’s appearance for reasons beyond injury, illness, or disease, has become increasingly pervasive in society in the past few decades despite sparking controversial debates. (Coleman, 171) While reconstructive surgery is condoned, cosmetic surgery occupies a gray area where physicians â€Å"dedicated to saving lives, healing, and promoting health† perform â€Å"invasive surgical operations on healthy bodiesRead MoreAbout Face: the Face Transplant Debate6103 Words   |  25 PagesMoreover, unlike some life-extending measures that substantially lower the quality of life, where organ transplants succeed, recipients’ health can be restored dramatically. It is only natural that phenomenal strides in transplant science and surgery now present society with a much different and complex prospect: transplantation of the human face. Until recently, transplant procedures were done only in life-threatening cases, and transplanted organs were internal and non-visible. Essential toRead MorePower Of Personal Production By 3d Printing3028 Words   |  13 Pagesinkjet printers, which were created in 1976. The inkjet print machines, are printers where â€Å"the characters are formed by minute jets of ink† (Oxford Dictionary). These ink jet printers recreate digital images by placing droplets of ink onto paper, plastic, or other chosen material. Unlike 3D printing, however, this method can only be used to make two-dimensional, flat images. However, the first successful transfer of computer imaging to a tangible printed object was in 1984. Charles W. Hull inventedRead MoreAbortion Synthesis 41993 Words   |  8 Pagesoften done within the first three months of a pregnancy. In this abortion the womb is stretched wide and abortionist use long cylindrical rods which he inserts into the cervical opening as it stretches the cervix wide enough. Then he inserts a hollow plastic tube that has a knife edge through the cervix, the suction is 29 times more powerful than a vacuum cleaner and the baby is torn into pieces and sucked into a canister (Abortion as Your Option - Heritage House Literature). The other form of in-clinicRead MoreSalt Lake Olympic Bribery Scandal Essay8624 Words   |  35 Pages(SLOC)of the Games might have been involved in bribery acts with the International Olympic Committee. SLOC admitted paying IOC members relatives tuition and expenses. They also offered the members free healthcare services by paying for their plastic and medical surgeries. The U.S Department of Justice believed that all these bribery allegations were done to ensure that the 2002 Olympics would come to Utah. The objective of this paper is to evaluate using the three values of law, ethics and social responsibilityRead MoreMedical Tourism22177 Words   |  89 PagesImperial College London, I would like to thank my supervisor Dr. Timothy Heymann, first for awarding the studentship project and second for helping to target my efforts. I would even like to thank Mr. Ebrahim Mohamed and Mr. Simon Stockley for their moral support towards the write-up of this project. Finally, special thanks to my wife Nansi, who has being so supportive during this project and throughout my MBA year. Bhavin Shah, September 2008. II TABLE OF CONTENTS SYNOPSIS .............Read MoreLanguage of Advertising20371 Words   |  82 Pagesfixed epithets are found: 1) in folk poetry (e.g. bonny lass, merry green wood); 2) in a particular work (e.g.  «Botticellian, eyes, lips, face » said of Danny in  «Maid in Waiting » by Galsworthy). Epithet may be classified from different standpoints. We have already classified them according them according to the degree of unexpectedness. Semantically epithets may be devided into: associated with the noun following, pointing to a feature which is most essential: e.g. dark forest, drearyRead MoreInnovators Dna84615 Words   |  339 Pagesknowledge or opportunity. In fact, by carefully examining Jobs’s behaviors and, speciï ¬ cally, how those behaviors brought in new diverse knowledge that triggered an innovative idea, we can trace his innovative ideas to their source. What is the moral of this story? We want to convince you that creativity is not just a genetic endowment and not just a cognitive skill. Rather, we’ve learned that creative ideas spring from behavioral skills that you, too, can acquire to catalyze innovative ideasRead MoreDeveloping Management Skills404131 Words   |  1617 Pagesmanagement and leadership: â€Å"envision the productive community,† â€Å"first look within,† â€Å"embrace the hypocritical self,† â€Å"transcend fear,† â€Å"embody a vision of the common good,† â€Å"disturb the system,† â€Å"surrender to the emergent process,† and â€Å"entice through moral power.† An international study of 6,052 managers from 22 countries focused on differences in managerial attributes and identified attributes such as inspirational, self-sacrificial, integrity, diplomatic, malevolent, visionary, administrative, self-centeredRead MoreMarketing Management 14th Edition Test Bank Kotler Test Bank173911 Words   |  696 Pagesmarkets, particularly China Answer: C Page Ref: 184-185 Objective: 1 AACSB: Analytic skills Difficulty: Moderate 6) Ultimately, the amount of steel sold to General Motors depends on the consumers demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent? A) derived demand B) inelastic demand C) geographic demand D) relational demand E) static demand Answer: A Page Ref: 185 Objective: 2 AACSB: Analytic skills

Nuclear Power Problem or Solution Free Essays

string(302) " successfully dealt with and that said, this leaves all reactors that followed looking toward a solution and the prediction of over a 100,000 metric tons of waste by 2035 that needs to be completely isolated from the environment for tens or even hundreds of thousands of years because it is so deadly\." Nuclear power is complicated. A nuclear power plant provides energy that does not contribute to global warming. Climate concerns have seen a rise in the construction of new reactors to address growing demands of electricity worldwide. We will write a custom essay sample on Nuclear Power: Problem or Solution or any similar topic only for you Order Now Currently the United States and Canada receive 20% of their electric power from nuclear plants. The rest of the world is at 6% but rising. The benefits drive the nuclear energy movement and continue to do so and the proponents of nuclear power see this as an indispensable solution in reducing the consumption of conflict-ridden fossil fuels. Opponents of nuclear power also make a strong case citing cost, safety and justified global concern of waste storage and the potential for nuclear weapons in areas where terrorism is a major concern. These plants provide the uranium and plutonium regarded as critical components of nuclear weapons. This will be discussed in depth in this paper. This paper will also detail the benefits and detriments of the future growth of nuclear power plants across the globe. The first uses of nuclear technology were the bombs dropped in Japan in the 1940’s. In the 1950’s physicists and engineers harnessed this power and presented it as a less costly and an alternative form of energy. Nuclear power plants were built with an eye to safety; this was the main concern early on. The 103 reactors in the U. S. today supply 25% more electricity than 109 reactors did a decade ago. This has been achieved through improvements in management, reliability and productivity. In 2010, Taking Sides, Clashing Views on Environmental Issues states that favorability to nuclear energy was running at 67% of Americans in favor of using this technology. The gap of people against this was closing. These companies were being seen as valuable and all operating licenses were being renewed. Impressive gains in output and reliability at many nuclear power plants have the industry looking to build more plants. Nuclear power is being accepted as the core strength of the U. S. electric supply. And in this â€Å"green† era, nuclear is seen as the main source of assisting the U. S. in meeting clean air goals. The Clean Air Act of 1970 set out to improve air quality and nuclear power plants are credited as one big reason that compliance was met. Electric vehicles and hybrid electric vehicles are becoming more in demand and the clean electricity from nuclear power is driving policymakers to continue to support nuclear technology. These vehicles reduce carbon emissions, noise, maintenance and reduced oil usage and reliance on foreign oil. Clean energy is paramount to a sustainable development globally. As the population continues to grow, the demand for energy increases and harnessing wind and solar should increase because they are good options and do not contribute directly to air or water pollution. These renewable fuels contribute in a positive way to a sustainable world but they just don’t produce enough electricity yet, they are considered good alternate options in conjunction with nuclear energy. The nuclear age started with the thought of this form of generating electricity being less costly. That did not prove to be the case, in the beginning, but today nuclear energy is once again being heralded as a value proposition. The volume of electricity that can be produced and done so in a clean and safe way is looked at as a way to provide environmental attributes and price stability. The Department of Energy’s Nuclear Power of 2010 program created a partnership between government and industry and ensured adequate funding for the building of new plants. The planned investment was $650 million dollars over several years and assists with the need of program stability and resources necessary to ensure future viability. The U. S. faces an imminent energy crisis and even though electric power is only 3 to 4 % of our gross domestic product, the other 96 or 97% depends on that to fuel our $11 trillion dollar economy. Nuclear energy will remain a front runner because of the reliable and continuous source of energy it provides and it allows us, as a nation, to lead the world in decreasing our dependence on fossil fuels. Coal is abundant across many parts of the globe but contributes to global warming (there is research and development in developing a â€Å"clean† coal and this has been proven viable but bringing it to market at a competitive price has not happened). Natural gas is also fairly abundant but unsustainable in power generation and makes little sense. This being said enhances the argument for nuclear energy plants to assume that the future plants being built will continue to grow worldwide and that as this continues, the industry will strive to address cost and bolster safety. The other side of this issue sheds a different light on the same subject. The expense of nuclear energy is measured differently. Financial expense is a factor but fear is the most major concern. Nuclear energy has no pollution or emissions but the by-products of the process namely waste, and how it is stored, transported and discarded is regarded by many as the downside of nuclear energy. The safety of power plants was the original concern but as these expanded across our country and the world, the waste has come to be a mightier concern from the holding and containing in plants, to the transporting over highways and ultimately the storage of these toxic materials, with a half-life of a thousand years. The potential harm of radioactive waste is to humans, wildlife and the environment. This waste contains plutonium, uranium and other elements along with parts of atoms. Nuclear waste needs to decay following a cooling process. Even after the waste has been out of the reactor for 10 years, a human coming within a meter of it would die in three minutes. Waste from the first generation of reactors has not been successfully dealt with and that said, this leaves all reactors that followed looking toward a solution and the prediction of over a 100,000 metric tons of waste by 2035 that needs to be completely isolated from the environment for tens or even hundreds of thousands of years because it is so deadly. You read "Nuclear Power: Problem or Solution" in category "Papers" Sendai, Japan had an 8. 9 earthquake on March 11, 2011 that was followed by a tsunami of immense proportions. There was a nuclear power plant in operation called Fukushima-Daiichi that continues to be in the news more than six weeks after the disasters and the story continues to unfold. The first thing to point out, in fairness, is that these were unlike Three Mile Island and Chernobyl because the problems that resulted were not the result of human error. The built in safety measures detecting an earthquake worked and as soon as the quake was detected, the plant started an automated, preprogrammed shut down and all the safety elements were working to achieve a cooling and treatment of the decay heat. Diesel generators provide the power to drive the pumps for the water coolant necessary to circulate through the reactors, removing the decay heat but when the tsunami hit, the diesel generators that were necessary to provide power necessary for the pumps was lost. There were other backup systems but they too were lost and the fear of melt down and radiation being spewed into the atmosphere ensued. Heat removal could have continued indefinitely if there was power but that was not the case due to the tsunami. Radiation levels are high and more than 6,000 families in surrounding cities have been told to leave the area. Minor traces of the radiation were found in the drinking water in my state, Massachusetts and this drives home the point of how small our world has become and why we all need to be better informed of the world around us. Radiation and its side effects are nasty and can take years to manifest illness and cancers. There are also some discrepancies on how much area should be evacuated and there are many varying reports. The U. S. cientists seem to share a common number of 50+ miles, Japan is saying 12. The Fukushima-Daiichi nuclear plant problems echo most people’s concerns about nuclear safety and have started a concentrated look at nuclear power plants that are built in earthquake prone areas. This concern has spread to Germany where more than 60,000 protestors have been assembling outside the major nuclear plants in that area. The IAEA (International Atomic Energy Age ncy) is trying to assure people around the world that new safeties were already on the drawing board addressing issues like the one in Japan. Nuclear energy had been enjoying resurgence with relative calm before the tragedy in Japan. India and China had a plan to add a thousand new nuclear sites in the next two decades. Japan nuclear facilities have withstood many earthquakes; the tsunami is what brought this one down. Opponents are still focused on the long term and the storage, handling, transporting and long term storage of the hazardous waste that is a lethal by-product of nuclear energy. The following is from www. wagingpeace. org and states the risks in a succinct way: ?Nuclear Waste ?Nuclear waste is produced in many different ways. There are wastes produced in the reactor core, wastes created as a result of radioactive contamination, and wastes produced as a byproduct of uranium mining, refining, and enrichment. The vast majority of radiation in nuclear waste is given off from spent fuel rods. ?A typical reactor will generate 20 to 30 tons of high-level nuclear waste annually. There is no known way to safely dispose of this waste, which remains dangerously radioactive until it naturally decays. ?The rate of decay of a radioactive isotope is called its half-life, the time in which half the initial amount of atoms present takes to decay. The half-life of Plutonium-239, one particularly lethal component of nuclear waste, is 24,000 years. ?The hazardous life of a radioactive element (the length of time that must elapse before the material is considered safe) is at least 10 half-lives. Therefore, Plutonium-239 will remain hazardous for at least 240,000 years. ?There is a current proposal to dump nuclear waste at Yucca Mountain, Nevada. ?The plan is for Yucca Mountain to hold all of the high level nuclear waste ever produced from every nuclear power plant in the US. However, that would completely fill up the site and not account for future waste. ?Transporting the wastes by truck and rail would be extremely dangerous. ?For a more detailed analysis of the problems of and risks incurred by the plan, see Top Ten Reasons to Oppose the DoE’s Yucca Mountain Plan ?Repository sites in Australia, Argentina, China, southern Africa, and Russia have also been considered. ?Though some countries reprocess nuclear waste (in essence, preparing it to send through the cycle again to create more energy), this process is banned in the U. S. due to increased proliferation risks, as the reprocessed materials can also be used for making bombs. Reprocessing is also not a solution because it just creates additional nuclear waste. ?The best action would be to cease producing nuclear energy (and waste), to leave the existing waste where it is, and to immobilize it. There are a few different methods of waste immobilization. In the vitrification process, waste is combined with glass-forming materials and melted. Once the materials solidify, the waste is trapped inside and can’t easily be released. The final concern for the purpose of this paper goes back to the second to last point from wagingpeace. org. The U. S. is banned from reprocessing nuclear waste because those materials are necessary components when making a bomb. There is a volunteer group called the National Supplies Group (NSG) and they enforce guidelines to members and oversee exports to ensure that the technologies and materials are treated properly and are not being used to contribute to proliferation. The NSG has 46 member states but Israel, India and Pakistan are not among them. This is frightening and makes one question why it is not mandatory to be part of this NSG. It seems that the rules should be the same for each state or country when dealing with nuclear energy and makes one wonder what the IAEA contributes. Nuclear energy is complicated. If I was writing this before the March 11, 2011 disasters in Japan, I would be impressed by how far the industry has evolved. Natural disasters are just that, natural and occurring more and more. The strength of Hurricane Katrina was blamed on global warming and makes me wonder if we had more nuclear energy would the storm have been less severe. I don’t know that I gave a lot of thought to nuclear energy before this course and it seems that many movies I have seen over the years usually involves smuggling of components necessary for use in weapons of mass destruction. It now appears that this is a very real threat and one that needs full worldwide regulation. I think nuclear energy is here to stay and that the growth will be immense to keep up with the population and to decrease emissions. This product is a bit of an enigma to me. It strives to do good but has the potential to create so much evil. Nuclear energy and all it’s by-products are very complicated. How to cite Nuclear Power: Problem or Solution, Papers

What are the causes of unethical practices in advertising Essays

What are the causes of unethical practices in advertising ? Marketing is what you do when your product is no good. Most efficent way to increase sales is advertising. Advertisements announce your product and give information about product?s quality and the functions. Advertisements can easily pay attention people and have significantly effect to direct consumer preferences.. As well as advertisements have a lot of advantages they could be harmful. The causes of unethical advertising can be counted in three main areas. These are not following ethical rules, targeting children, and confusion over new media platforms. Advertisers who are following their own rules sometimes dont care if the advertisements are true or harmful. They just trying to sell products.When some companies trying to sell low quality products they don?t tell truth about the products in advertisements. They are going to hide it?s defects and show more than what is it in reality. Marketers persuade and change consumers decisions about what should they purchase by telling lies and giving false information.They are misleading to consumers and this make consumers more awareness when they are shopping. Advertisers also take care social consciousness to pay attention. Companies ignore morality and they are just interest to gain money. Use social consicousness to advantage of them. ?Objectivation of woman could be seen in? most of advertisements include woman and always illustrate those woman as a sexual object or in detergant advertisements women is shown restricted to the home and isolated from other women that is outside of home. A dvertisers dont consider woman as a human they think women as an object. For a company easiest targets are children. Glossy images on the billboards or flashy advertisements on televisions have an effect on children?s minds. These advertisements have bad effect on their young minds and change their world view. That cannot be ignored. According to Richard, U. (2012). Marketing the Case for enhanced advertising ethics. Journal of Advertising Research. Vol. 15, pp 37-39) children are vulnerable and easily influenced and dont know the difference between advertising and enterainment. Therefore advertisers must be aware of this and protect children. So parents also should be aware of this and they have to work stop and prevent these unethical practices in advertising. Also media platforms should be checked. New media resources are getting stronger and more pwerful. As the media is getting stronger advertisements are becoming more effective. Advertisers put subliminal messages on videos or news. New social media like Facebook and blogs make it diffiuclt to distinguish the difference between editorial content and advertisement, (Ricahrd). These kind of advertsing seems legal but that should be asked if they are ethical. Sometimes we don?t know if the advertising or marketing is paid for by the company that makes the product or if it is being written by someone who is a consumer of the product. Advertisers have to be very careful if they are too be ethical. Advertising is to help people sell their products and so make money for them. Many people mistrust advertising and this can be blamed on the unethical advertising that they have seen and perhaps caused them to buy a product that does not do what it promised or breaks easily. Companies need to make sure they are honest in their advertising, that they don not target children and are clear that an advertisement is an advertisement rather than a review or a testimonial.

First and Second Triumvirates of Rome

First and Second Triumvirates of Rome A triumvirate is a system of government wherein three people share the highest political power. The term originated in Rome during the final collapse of the republic; it literally means the rule of three men (tres  viri). The members of a triumvirate may or may not be elected and may or may not rule in accordance with existing legal norms. The First Triumvirate An alliance of  Julius Caesar,  Pompey  (Pompeius Magnus) and  Marcus Licinius Crassus  ruled Rome from 60 BCE to 54 BCE. These three men consolidated power in the waning days of Republican Rome. Although Rome had expanded far beyond central Italy, its political institutions established when Rome was just one more small city-state among others failed to keep pace. Technically, Rome was still just a city on the Tiber River, governed by a Senate; provincial governors largely ruled outside of Italy and with few exceptions, the people of the provinces lacked the same dignity and rights that Romans (i.e., people who lived in Rome) enjoyed. For a century before the First Triumvirate, the republic was rocked by slave revolts, pressure from Gallic tribes to the north, corruption in the provinces and civil wars. Powerful men more powerful than the Senate, at times occasionally exercised informal authority with the walls of Rome. Against that backdrop, Caesar, Pompey, and Crassus aligned to bring order out of chaos but the order lasted a scant six years. The three men ruled until 54 BCE. In 53, Crassus was killed and by 48, Caesar defeated Pompey at Pharsalus and ruled alone until his assassination in the Senate in 44. The Second Triumvirate The Second Triumvirate consisted of Octavian (Augustus), Marcus Aemilius Lepidus and Mark Antony. The Second Triumvirate was an official body created in 43 B.C., known as Triumviri Rei Publicae Constituendae Consulari Potestate. Consular power was assigned to the three men. Usually, there were only two elected consuls. The triumvirate, despite a five-year term limit, was renewed for a second term. The Second Triumvirate differed from the first insofar as it was a legal entity explicitly endorsed by the Senate, not a private agreement among strongmen. However, the Second suffered the same fate as the First: Internal bickering and jealousy led to its weakening and collapse. First to fall was Lepidus. After a power play against Octavian, he was stripped of all of his offices except for  Pontifex Maximus  in 36 and later banished to a remote island. Antony having lived since 40 with Cleopatra of Egypt and growing increasingly isolated from the power politics of Rome was decisively defeated in 31 at the Battle of Actium and thereafter committed suicide with Cleopatra in 30. By 27, Octavian had retitled himself  Augustus, effectively becoming the first emperor of Rome. Although Augustus paid particular care to use the language of the republic, thus maintaining a fiction of republicanism well into the first and second centuries CE, the power of the Senate and its consuls had been broken and the Roman Empire began its nearly half-millennium of influence across the Meditteranean world.

The Most Important Factor in SEO

The Most Important Factor in SEO The Most Important Factor in SEO The Most Important Factor in SEO By Mark Nichol If you, or the business or organization you work for, want people to visit your (or its) website, you should know the most important factor in search engine optimization. As you probably know, SEO is any set of strategies designed to improve your website’s ranking in an online search. Various sources ascribe varying values to such strategies, but most SEO experts agree that the following approaches are important: Content should be well written, relevant, engaging, and frequently updated. Title, meta description, and header tags should contain terms that accurately reflect site content. URLs, or website addresses, should be short and should contain relevant keywords. A website’s longevity, and its reputation among popular websites with related content (indicated by shared content, links to your site, and references to your site), are also beneficial factors. There are additional techniques, but these are the basics that content producers should be aware of. You should also be alert to one of the factors that causes a website to be penalized in search engine rankings: Content that lacks depth and substance and that uses keywords excessively. Most website administrators, webmasters, and content producers are aware that search engines companies are constantly refining their products to reward websites with high-quality content and penalize those that ignore these simple, self-evident principles. However, it’s surprising how often one still comes across densely keyword-laden, awkward content that is designed for search engines, not human beings, to read. This approach to SEO is akin to that of a retail establishment that temporarily offers free products or services or that stations attractive, scantily clad models at the store entrance for a particular promotion. These techniques certainly encourage customers (I know both of them get my attention), but they have nothing to do with the quality of the products or services; once the freebies and the hotties go away, will customers come back? By the same token, if you want people to return to your website, give them what they want and what they want should be what you have to offer, not distracting diversions. The quantity of content varies widely depending on what that is, but quality is constant: Website content should be clear, concise, and informative. Compare the following paragraph from the About page for Daily Writing Tips with the one after that, which reflects what I would probably write if I were unfortunate enough to be an SEO content creator rather than a writer: â€Å"Whether you are an attorney, manager, or student, writing skills are essential to your success. The rise of the information age with the proliferation of e-mails, blogs, and social networks makes the ability to write clear, correct English more important than ever.† â€Å"Daily Writing Tips knows that English-writing skills are essential to your success. Whether you are an attorney, manager, or student, you need to write English well. Read tips about how to write English better at Daily Writing Tips. At Daily Writing Tips, we will show you how to write English well, use correct English spelling and proper English punctuation, and use the right English words. Bookmark Daily Writing Tips now for the best English-writing tips.† One paragraph tells you what you need to know. The other makes you want to scream. It isn’t content. It’s data. It is designed to be read by a machine. Design your content to be read by people. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:100 Whimsical WordsBest Websites to Learn EnglishA Yes-and-No Answer About Hyphenating Phrases

Walt Disney Company Essay Example | Topics and Well Written Essays - 1000 words

Walt Disney Company - Essay Example In general the team had pretty good track record of delivering the assigned tasks on time with exception of some minor incidents. The team had strengths and weaknesses that affected the performance of the group. One of the strengths of the team was that it did not waste any time in choosing a topic for the project. This enabled the team to quickly start working on the topic. Another strength of the team was its communication process. The team often utilized emails to communicate with each other. The use of emails was very effective because it allowed the members of the team to exchange information instantly. The members of the team communicated well during meetings. The organization of the team was also very good. Everybody was assigned their own part so we would not have any incidents. The teammate that worked the hardest in the team was Jay. He did more work because every one emailed their part to him and he had to connect and correct all of them before making the final paper. He d eserves a lot of credit for his tremendous work efforts. The weaknesses of the team can be best described by evaluating the work behavior of the members. Shane did a pretty good job, but one time he submitted his part late. Despite his mistake the team was not hurt. The weakest link on the team was Alana. Alana was a problematic teammate that often acted unprofessionally with her antics. Alana contributed fairly to the topic, but it seemed like she always choose the easy part to do. My assessment of Alana is that sometimes she did not take the work seriously. She often laughed at all times about any topic whether it was good or bad. She did not seem to realize that her antics were annoying to the group. She also had the bad habit of nail biting. Another thing is she acted like a child when she kept knocking her pen on the table nonstop during the class and group meeting time. My role in the group was to bring up ideas and make some suggestions at the time we choose topic. I also sub mitted my work on time despite the fact that I had a hard time due to personal problems. I had to come back to my country due to an emergency to resolve a problem. If the team had to work together again next semester I would make changes by establishing ground rules to follow during the team’s initial meeting. I would also increase the amount of meetings during the project to improve the planning and the communication process. The team achieved a coordinated effort. This was accomplished by meeting regularly and by each member being accountable for their actions. The leadership function of the team was not clearly defined, but the team member that showed the most leadership was Jay. I also informally provided leadership to my team by leading through example. I always supported my teammates during the project. I helped my teammates by giving them ideas on how to proceed with their assigned tasks. I was able to build a sense of trust with most of my teammates except with Alana. Her childish behavior made me think she would be an irresponsible teammate. In the end she actually delivered her assigned tasks and performed a fair job. Since leadership roles were not clearly defined by the team I can honesty say that the team exercise did not help me that much in building my leadership abilities. I did not feel compromised by the team because the work was evenly distributed. The team did not experience any major conflicts that would have compromised the project deliverables. The tasks performed by the group were

PetMeds Transformation Case Study Example | Topics and Well Written Essays - 1000 words

PetMeds Transformation - Case Study Example The set of variables are grouped into transformational and transactional factors (Falletta, 2005). This paper focuses on the seven transactional variables, such as structure, tasks and skills, management practices, systems and policies, work unit climate, motivation and individual needs and goals. Burke-Litwin Model defines the organizational structure as an arrangement of functions and people into specific areas and levels of responsibility, decision-making authority, communication and relationships (Falletta, 2005). Such structure shall support the organization's mission, goals and strategy in order to achieve competitive advantage for the firm (Porter, 1985). PetMed Express can be considered as a mechanistic organization that follows the functional departmentalization structure. The company has highly specialized departments with high formalization and a clear chain of command. The company's structure supports its cost leadership strategy by increasing consistency and reducing cost through centralization and management control (McShane, 2001). The company currently has 248 full time employees distributed into four departments of customer care, warehouse, pharmacy and corporate departments. The customer care department consists of customer care representatives in a call center environment while the warehouse department consists of supervisors and associates. The pharmacy department employs pharmacists, pharmacy technicians and support. The corporate department is composed of accounting, legal, marketing, information technology, purchasing and human resources. Below is the organizational diagram of PetMed. (PetMed Express, 2009) Figure . PetMeds Organizational Chart In order to be effective in serving the customers demand, PetMeds employed 143 people in customer care and marketing, 58 people in pharmacy, and 34 people in warehouse and purchasing. Therefore, the structure of human resources in the company is aligned with its mission of delivering exceptional service, savings and convenience to its customers while maintaining a corporate strategy of cost advantage. Tasks and Skills and Motivation The business success of PetMed Express is attributed to the core competencies of their customer care, warehouse and pharmacy department. According to Prahalad and Hamel (1990), the core competencies of a company are the collective learning in the organization that involves communication, involvement and deep commitment to working across organizational boundaries. Therefore, the core competencies provide potential access to a wide variety of markets and make a significant contribution to the customer benefits of its products. The Burke-Litwin Model describes tasks and skills as the behavior required for task effectiveness which includes specific skills and knowledge required to accomplish work (Falletta, 2005). The tasks and skills of an individual coupled with its motivation, or heightened behavior to achieve goals, have a significant impact on organizational performance and productivity. In other words, an empowered and motivated employee will perform its duties and responsibilities when his tasks and skills are matched with the job requirements. The human resource management has an extensive recruitment and selection strategy that identifies the needs of the job as well as the competency of the employee. The bulk of the

Impact of the financial crisis globally and in Mauritius

Impact of the financial crisis globally and in Mauritius Like almost all economies worldwide, the Mauritian economy has not been spared form the effect of the global financial crisis and subsequently to the recent European crisis. The former is considered to be the worst financial crisis since the Great Depression of the 1930s. This was mainly due to the falling home prices in the United State which consequently spread to all other major economies and those which are dependent on the US economy. The Global Financial Crisis has led to the crisis of public debt in the Eurozone starting with Greece at the end of 2009. Due to the linkage of member countries in the Eurozone and the use of a single currency, the crisis faced by Greece started to spread to other member countries and this became known as the Eurozone crisis. It is obvious that although the measures that would be analyzed have had great effectiveness on mitigating the impact of the two crises, it has not been inevitable to prevent them from affecting the key sectors of the Mauritia n economy. One reason is because of its openness and financial integration to the world economy and the other being the fact that Mauritius has longed been and is still very Eurocentric. The Global Financial Crisis (2007-2009) Its Origin and Impact on the World Economy The Global Financial Crisis started when home prices began to fall dramatically in the US Real Estate market at the end of 2006. One of the reasons for the falling prices is because of the housing bubble which peaked in approximately 2005-2006. As a result people who have taken home loans started to default on their repayments as they find it cheaper to buy a house rather than to continue paying for the home loan. Due to the financial linkage and the globalization process, the declining home prices started to spread to other countries. More and more foreclosures and defaults led to banks financial position to deteriorate rapidly around the world. Investors worldwide started to lose confidence in the US economy and other major economies of the Eurozone. As such stock markets were deeply affected leading to huge loses for investors. Consumption, which is the main component of aggregate demand for many countries and US, started to decline which resulted in many quarters of negative grow th in the US and other major economies. The financial crisis led to a prolonged worldwide recession in 2008. Governments and Central Banks were forced to take necessary actions to fix the crisis. Capital injection and interest rate cuts were common to help borrowers to repay their loans. The low consumer confidence and investors confidence in the world economy resulted in many firms and financial institutions filed for bankruptcy such as the collapse of Lehman Brothers. Stimulus packages were implemented in many countries to help boosting economic activity. These stimulus packages helped companies which employ thousands of workers not to file for bankruptcy so as not to increase unemployment, for example, the US government agreed to help giant car companies Ford and Crysler in order to prevent them from closing down and laying down workers. The Global Financial Crisis did not only affected rich countries but also emerging economies and developing countries. Countries like Brazil, Russia, India, China (BRIC) and many other emerging economies experienced significantly high economic growth prior to the crisis but with the global economic downturn they had seen a slowdown in their level of economic activity. The Impact of the Global Financial Crisis on the Mauritian Economy With the impact of the Global Financial Crisis on the world economy and the deterioration of banks financial position, investors in Mauritius started to react in September 2008 by massively selling their shares. Not surprisingly, companies whose prices declined the most were those in the banking and financial sector such as the Mauritius Commercial Bank (MCB) and the State Bank of Mauritius (SBM). As a result, the SEMDEX, the share price index of shares quoted on the Official Market of the Stock Exchange of Mauritius, started to decline to its lowest level. This indicated the level of pessimism among investors in the Mauritian economy. The Global Financial Crisis affected all key sectors of the Mauritian economy, such as the textile industry, the tourism industry, the sugar industry, the financial services sector, and the construction industry. This was mainly due to the trade liberalization of Mauritius to the world economy. As such, even though Mauritius is not related to the origin of the financial crisis, the effects of the crisis crossed the Mauritian border uninvited. This is the danger of globalization on small states like Mauritius. Among all the sectors of the Mauritian economy, the textile and tourism was most affected. Many firms closed down. Low level of tourist arrivals, due to the increasing level of unemployment in key markets, affected the tourism industry deeply. The construction industry experienced a slowdown in its economic activity. Foreign Direct Investment fell significantly during the crisis. Finally, during the same period the sugar industry had to undertake reforms because of the end of the European Union Sugar Protocol in 2006. Rising unemployment was not inevitable and the economic growth rate was declining. However, it should be noted that Mauritius did not register negative output growth during the global economic downturn. Measures by the government and the Bank of Mauritius successfully prevented the Mauritian economy from entering into a recession. Policy measures taken to mitigate the Impact of the Global Financial Crisis on the Mauritian Economy. Since the beginning of the Global Financial Crisis and its impact on the Mauritian economy there has been huge policy coordination between the government and the Bank of Mauritius (BOM). Keynesianism was on the rise and expansionary monetary policies were followed. The government adopted expansionary fiscal policies to boost productivity. The BOM followed the same policy actions as other Central Banks worldwide, easing monetary policies. In the last quarter of 2008, through its Monetary Policy Committee (MPC), the BOM decided to slash the Key Repo rate by 150 basis points and the Cash Reserve Ratio (CRR) was brought down from 6 percent to 5 percent, thus freeing some Rs2.5 Billion for commercial banks to be able to increase loans to the private sector and in turn increasing the level of economic activity. On the government side, although the economic growth projection was still positive at 5.5 percent for the year ending 2008, expansionary fiscal policies were adopted. The budget deficit was increased but for the benefit of increased productivity. Like the BOM, the government also followed the same course of actions taken by other countries to fight the global financial crisis. An Additional Stimulus Package (ASP) equivalent to 3.8 percent of Gross Domestic Product (GDP) or Rs6 Billion was put in place. The ASP was aimed at expanding the airport of Mauritius and to create six funds that would make Mauritius more resilient and thus limiting the impact of the Global Financial Crisis on the Mauritian Economy. These Funds include: The Maurice Ile Durable (MID) Fund. Food Security Fund. The Human Resource, Knowledge, and Arts Development Fund. The Local Infrastructure Fund. The Social Housing Development Fund. The Manufacturing Adjustment and SME Development Fund. The Implementation of the Additional Stimulus Package in its effort to fight the Global Financial Crisis. The six funds created under the ASP are detailed below: The MID Fund would include a solar water heater scheme, energy saving lamps, replacing street lighting lamps, mobilize foreign expertise for sustainable development support for a wind farm project, and financing the Waste Energy Project. All these schemes would help in building the vision of a Green Mauritius and protect the Mauritian Economy from high price volatility for non-renewable energy. Under the Food Security Fund land would be prepared and provided with irrigation facilities for small farmers. The land resource mobilization would result in the production of some 5000 tons of additional food commodities between 2009 and 2011. The aim of this fund is to increase the food supply for the population and reduce the dependence on imported food supplies. The Human Resource, Knowledge, and Arts Development Fund would make provisions for scholarships to needy students. A Student Loan Guarantee Scheme and the construction of new campuses for tertiary education are also financed under this fund. The aim of this fund is to provide education for all children and help in eradicating poverty and also to widen the circle of opportunities. The Local Infrastructure Fund would provide resources in a wide range of areas including multi-purpose complexes, fish landing stations, market fairs, waterfront, crematorium, and tartan track. The aim of this fund is to improve areas where people visit regularly and increase security for the people. The Social Housing Development Fund would include the rehabilitation of NHDC estates and infrastructures for social housing and support for affordable housing to bring down the cost of mortgage. This fund would help more people to own a home. The Manufacturing Adjustment and SME Development Fund would facilitate the work undertaken by the Enterprise Mauritius, SEHDA, and the National Women Entrepreneur Council. Another important scheme that was created under the ASP was the Mechanism for Transitional Support to the Private Sector (MTSP). This mechanism makes provision for a Financial Rescue Package (FRP) to help enterprises in financial difficulties. The MTSP covered all sizes of enterprises whether small, medium, or large. The facilities favored enterprises which have used all available financial tools provided by banks and other financial institutions and still cannot overcome their financial distress. It also applies to those where banks and other financial institutions do not agree to help them. The 2009 budget also aimed at making provision for a range of actions in light of the global economic crisis. The National Empowerment Foundation (NEF) was created from this budget. Its main aim was to fight the remnants of poverty in Mauritius and the eradication of poverty. The NEF also put an obligation on large companies to give at least 2 percent of their operating profit as Corporate Social Responsibility (CSR). The NEF enhanced its efforts on re-skilling, retraining, and returning retrenched workers to productive employment. The Euro Crisis (2010) Its Origin and Impact on the Eurozone economies. The Global Financial Crisis of 2007-2009 forced many countries to seek help to restructure their economies, especially the Eurozone economies. After the financial crisis another problem was emerged, the public debt or sovereign debt crisis which later became known as the Eurozone Crisis. It started with Greece at the end of 2009 and then spread to other Eurozone member countries such as Ireland, Spain, Portugal, Italy, and Germany. A sovereign debt arises when a country issue government bonds denominated in its own currencies but sold to investors abroad. The problem with Greece was that the cost of financing the debt became so large that the International Monetary Fund (IMF) and the European Central Bank (ECB) agreed on a à ¢Ã¢â‚¬Å¡Ã‚ ¬110 Billion loan for Greece. Soon after other countries started to have the same problem as Greece and bail outs was necessary. Ireland has also been bailed out with à ¢Ã¢â‚¬Å¡Ã‚ ¬85 Billion. However, these loans are conditional on the implementatio n of harsh austerity measures. Austerity measures being cuts in government spending and increased taxes. One of the main impact of the Euro Crisis was the depreciation of the Euro vis-à  -vis other currencies. There was high financial instability in Eurozone economies which consequently led to uncertainty and falling investors confidence. On 9 May 2010 the 27 member states of the European Union agreed to create the European Financial Stability Facility (EFSF), a legal instrument aiming at preserving financial stability in Europe by providing financial assistance to Eurozone states in difficulty. The Impact of the Eurozone Crisis on the Mauritian Economy. Mauritius is highly dependent on the Eurozone and it is obvious that a depreciating Euro would have serious consequences on the economy. The crisis impacted on all key sectors of the Mauritian economy including export, financial services industry, domestic oriented industries, and other emerging sectors. Most of our exports are billed in Euro while most imports are in US dollars term. Since the beginning of 2010, the Euro has depreciated by around 8 percent while the US dollar has appreciated by around 3 percent against the rupee. Therefore, it is clear that exports revenues are declining while costs are rising for local firms. This is very crucial for domestic firms and this present a threat for their survival and consequently employment. The Central Statistical Office (CSO) downgraded the real GDP forecast for 2010 from 4.6 percent to 4.2 percent after the unfolding of the Euro Crisis. Furthermore, the CSO predicted an unemployment rate of 7.5 percent in 2010 from 7.3 percent in 2009. On the other hand, the inflation rate was declining. Analysts expect the austerity measures to impact negatively on the growth performance of Eurozone economies. This can result in a drop in demand for our exports and lower tourist arrivals. Moreover, some analysts believe that the Eurozone crisis will last for 5 to 7 years. Policy Response to the Eurozone Crisis and to limit its impact on the Mauritian Economy. The Mauritian economy is faced with a depreciating Euro which is having serious consequences in terms of low tourist arrivals and low demand for our exports. Furthermore, the Euro crisis is expected to last for 5 to 7 years. There is therefore a compelling need to restructure the Mauritian economy and to diversify from the Eurozone countries to other emerging countries such as the BRIC. Below is an extract from Facing the Eurozone Crisis and Restructuring for Long Term Resilience which was presented by the Vice Prime Minister and Finance Minister, Pravind Jugnauth in 2010. Thus, The seven pillars of our response to the euro crisis and to the larger challenge of global economic rebalancing are: Industry and enterprise restructuring Deleveraging Supporting the creation of new financing instrument Fast re-skilling and re-employment of retrenched workers, with a focus on retrenched women workers Acceleration of public infrastructure Protecting consumers Modernizing regulations to improve competitiveness In order to implement all of the seven policies response mentioned above, many measures was taken, these includes: The implementation of an Economic Restructuring and Competitiveness Programme (ERCP). This will support firms in the export sectors, especially the textile and clothing industry to help them overcome their financial difficulties. Support for the SMEs to help them better manages their finance and thus being resilient to external shocks. Supporting small planters in the sugar industry which are squeezed between reform into the sugar industry and a depreciating Euro. Help to restructure the tourism sector in diversifying into non-euro based markets. Help the retrenched workers by providing them support and ensuring their re-employment. Ensuring that consumers can benefit in the depreciating Euro. Restructuring the public sector enterprises. Accelerate public infrastructure projects that are vital to the economic restructuring. Improving competitiveness by reviewing the regulatory framework. Setting up a committee to endure the proper implementation of the policy response package and ensure its effectiveness. Mobilizing the necessary resources to finance the package. The Mechanism for Transitional Support to the Private sector (MTSP) which was put in place to help firms in difficulties during the Global Financial Crisis was replaced by the ERCP. The ERCP is much more than a financial rescue package. The main features and process of the ERCP is outlined in the next section. The Economic Restructuring and Competitiveness Package The main processes of the ERCP are as follows: A diagnosis will be carried on the company applying for support under the ERCP to determine its viability. If the company is found viable, it will be granted all support under the ERCP provided that it takes a serious commitment to restructure and deleverage. An Independent Financial Analyst will be drawn to prepare a restructuring plan for the company. The restructuring plan will include market diversification, product improvement, efficiency, and productivity. If the restructuring process requires the laying off of workers, a retrenchment plan should be submitted to the ERCP and the Support Unit for Re-employment of Employees (SURE) for approval. The deleverage plan will define actions the company needs to take to bring down its gearing ratio to the benchmark established by the ERCP committee. Inefficient, poorly managed, highly geared companies will not be granted support under the ERCP. Measures were also taken by the BOM to manage the euro/rupee exchange rate. The Key Repo rate was cut by 100 basis points to 4.75 percent on the 27th September 2010. Conclusion Up to now the Mauritian economy has demonstrated a considerable degree of resilience to external shocks. The Global Financial Crisis of 2007-2009 was the worst economic downturn since the Great Depression of the 1930s and it has dampened the world economy significantly. Mauritius being a small emerging economy was also hit by Global Financial Crisis due to its openness n financial integration to the world economy. However, policy coordination by the government and the Bank of Mauritius in adopting expansionary fiscal and monetary policies has prevented the Global Financial Crisis from damaging the economy further. The effects of the Eurozone crisis on the Mauritian economy were also very high. These were inevitable since Mauritius has always had high dependence of its exports such as tourism, textile and sugar on markets in Europe but the policy response such as reducing the Key Repo rate to 4.75 percent by the BOM and the implementation of the ERCP by the government will ensure that the Mauritian economy has a long term resilience to external shocks

Importance of the On The-Job Training

On-The-Job Training entails significant benefits that could give trainees invaluable assets for achieving gainful employment. The training provides students the opportunity to accurate sufficient knowledge and skills relevant to work habits necessary to become competitive in the labor market. The training also assists individuals in developing professionalism and interpersonal skills necessary for success in the workplace. The trainee would like to express her gratitude to the people who helped her for this training to be possible.She is thankful to the Lord for giving her the strength and good health to finish this training. Next, she wants to express her sincerest gratitude to her family for supporting her financially, emotionally and spiritually. She also would like to gratefully acknowledge the staff of Mindanao State University Procurement Office for giving her some knowledge about their work. And she would like to thank the professors of the Mindanao State University for conduc ting this kind of program that help the students experienced things in the real world.Lastly, she would like to acknowledge her OJT Coordinator, Mr. Ramon V. Descallar for the support that he gave to his trainee.ACKNOWLEDGEMENTFor the successful completion of this report, the student-trainee would like to acknowledge and extend their heartfelt and sincere appreciation to all who helped and have unselfishly shared their precious time, talent, resources and support inspired them and made this endeavor come into reality. Introduction OJT or on-the Job-Training is a form of training taking place in a normal working situation.Training refers to the acquisition of knowledge, skills and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies, also training has specific goal of improving one’s capability, capacity and performance of a person. Internship or on the job training is one way by which students are given an opportunity to apply the theories and computations that have learned from school.It also helps students to obtain applicable knowledge and skills by performing in actual work setting. Everybody knows that OJT are part of a college curriculum that aims to train and orient students about the work and their future career. OJT is very important not only to teach students their chosen career but to show students the reality about working. of supervision also teaches them how to share what they know and be receptive to questions.

Movie Analysis Flight - 1341 Words

From the list of films I choose to watch was the film â€Å"Flight† (2012). When I read the reviews of the film, I was wondered about the plot of the film. I think that most people like to watch films about heroes. I like movies that have a good ending, but in this film it was different. The film changed my attitude on life. In this film I can see a six concepts like conflict, emotions, nonverbal communication, language, listening and close relationship. I want talk about conflict in the film â€Å"Flight†. The conflict occurred between the lawyer and Whip Whitaker, when they met for the first time at the restaurant. I can say that Whitaker is pouncing (p. 188 responding in an aggressive manner without acknowledging the needs of another person in a conflict). The example is when the lawyer started to ask the question about the crash of airplane. Perhaps the question was a little bit strange, because Whitaker began to answer them in an aggressive manner by raising his vo ice and throwing the silver ware across the table. He started thinking that lawyer did not want to help him investigate the true cause of the crash. I think the Whitaker did not trust him because he did not know anything about the airplane like Whitaker does. In the film â€Å"Flight† we can see a lot of emotions people who were on the plane during the crash. It was a very scary moment for all passengers. The emotional experience (p. 136 the feeling of emotion). The strongest emotion was fear you cannot if you feel likeShow MoreRelatedEssay Psychology of Fight Club621 Words   |  3 PagesFight Club is a movie based a man deemed â€Å"Jack†. He could be any man in the working class, that lives and ordinary life. The movie starts out giving an overview of his life, which consisted of a repeat of flights and cubicles. He is basically to the point of break when he takes another business flight and meets a man that calls himself Tyler Durdan. They instantly become friends and after an unfortunate explosion in â€Å"jack’s† apartment, he moves in with Tyler. One night after last call at a localRead MoreFilm Analysis : Hidden Figures1197 Words   |  5 PagesThe movie Hidden Figures was based on a true story, about three African American women who played a key role in the surge to fight against racism and sexism. They played a key role during the cold war, in the space race against the USSR. They were part of the team that sent late astronaut John Glenn into orbit as well as his return.The trio were played by Taraji P. 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The Prioritization Of Project Management - 1678 Words

The Prioritization of Projects Meaning of Priority: It is relative right of prerequisite to the rare assets. On the off chance that the assets are high there is no need of prioritize things. Here the assets are the things like time, human assets like staffing, spot to do work and numerous different assets. There are two separate ideas of that could be dead set from framework building and administration of the framework designing activities. In this we have define the particular necessities of the stake holders what they need and how they are eager to exchange the item in given assets. Meaning of Decision Making: A Decision is something that some individual picks the conceivable decisions of his own by considering the potential outcomes. The entire motivation behind incorporating in the choice making methodology is to settle on a balanced choice. Sound choice making means an inclination that is suitable to effectively existing objectives inside the given conditions and compels of the undertaking. In project management, decisions are required throughout triple constrains: Scope (how much functionality, at what quality level, for how many users, etc.) Schedule ( can activities be crashed , can activities be aligned differently, can provider change its schedule, can you skip/defer activities , can milestones be missed or eliminated, etc.) Cost (can a segment of work be allowed to come in over cost; can you reduce the cost of a segment; can you afford a scope change etc.) ByShow MoreRelatedCase Study 1: Prioritizing Projects at D.D. Williamson809 Words   |  4 PagesCase Study 1: Prioritizing Projects at D.D. Williamson Crystal D. Dr. Donny Bagwell Managing Human Resources Projects: HRM 517 October 27, 2013 Introduction D.D. Williamson implemented a new process for project prioritization that included focusing on the vision and impact of projects and narrowing down projects by selecting the ones of high importance and assigning them to senior management teams. I will attempt to critique that process, recommend an improvement for the process, provideRead MorePrioritizing Projects at D. D. Williamson Essay777 Words   |  4 PagesPrioritizing Projects at D. D. Williamson Critique the prioritizing process D. D. Williamson. D. D. Williamson is a small privately held company. Founded in 1865 in Louisville, Kentucky, D. D. Williamson has become a global leader in non-artificial colors (Kloppenberg Nkomo, 2012). The company has grown to nine operating facilities in six countries and supplying many food and beverage companies around the world. D. D. 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However, the method of dropping entire goal portfolios simply because they ranked lowest in the list could be deemed a flaw in the system, and one that could be detrimental to business unit integration slowly over time. This understandably frustrates t hose whose proposals are receiving no funding, and if this prioritization system hasRead MoreProject Evaluation and Prioritization816 Words   |  3 PagesProject evaluation and prioritization Most organizations are faced with the problem of allocation of resources that are most often limited across the projects within the organizations. Before any allocations are made there are various propositions that are made within the organization by individuals or organizational units who are the proponents of the projects due to the fact that resources are limited there is need to select particular projects which will be considered first this is what isRead MoreProposed Project Portfolio Management Process1469 Words   |  6 PagesProposed Project Portfolio Management Process Project management has grown beyond the confines of simplistic canned applications into a discipline that is in large part process, combined with common sense and inspiration. The process of Project and Portfolio Management (PPM) derives from the practices common to project management, as expressed in applications and tools developed to help project managers collaborate with project team’s cross-enterprise.   Project and Portfolio Management solutionsRead MoreSecurity And Controls Director At A Publicly Traded Hospital System880 Words   |  4 Pagesstill in progress. †¢ Results of this quarter’s external network vulnerability scans are in her in-box; a quick peek at the report tells her that numerous risks are flagged as â€Å"critical vulnerabilities†. †¢ The VP of Application Development‘s pet project is an internally developed Lab Information System that goes live next quarter - and his entire team is laser-focused on this objective. Consequently, this department hasn’t completed a thorough privileged access entitlements review since last year

A Raisin In The Sun American Dream Essay - 1811 Words

In the Lorraine Hansberry play A Raisin in the Sun she brings to light the life as an African American in a metropolitan area in the nineteen-fifties and sixties. At the time, her play brought insight to the African American plead for freedom to move up in their communities and to have equal opportunity to have their own American dream. Her understanding of African American family was really shown in this play with the formation of the family who was struggling with the loss of the father of the house, but she also showed how opportunity can come from anywhere and the pursuit of each family members dreams can provide opportunity for a better life, better known as the American dream. The play â€Å"A Raisin in the Sun† carries a lot of†¦show more content†¦. . I’ll pull the car up on the driveway†¦ just a plain black Chrysler, I think, with white walls—no—black tires†¦ the gardener will be clipping away at the hedges and he’ll say, â€Å"Good evening, Mr. Younger.† And I’ll say, â€Å"Hello, Jefferson, how are you this evening?† And I’ll go inside and Ruth will come downstairs and meet me at the door and we’ll kiss each other and she’ll take my arm and we’ll go up to your room to see you sitting on the floor with the catalogues of all the great schools in America around you†¦ All the great schools in the world† (). This dream is something you can tell Walter has dreamt of repeatedly and is clearly what he wants for himself. This dream he has visualized is not only about money but is about respect that he will have and the status he will have when he is a wealthy man. When it pertains to Beneatha her dream is to be an independent woman, to become one she wants to become a doctor. By being a doctor, she can provide for herself and might not even want to get married, to the dismay of her mother’s wishes. She later realizes that she can’t always be independent as pointed out by Walter, â€Å"You just got your mother’s interest at heart, ain’t you, girl? You such a nice girl-but if Mama got that money she can always take a few thousand and help you through school too-can’t she?† ().Show MoreRelatedA Raisin in the Sun American Dream Essay707 Words   |  3 Pages2011 Your Version of Success In the play A Raisin in the Sun by Lorraine Hansberry you go back in time to when segregation was still aloud. In this play you meet a cast of people with dreams of a better life. The American Dream, to be specific. This dream is portrayed differently for each character, all of which impact the play. Two of these character `s are Walter Lee Younger and Lena Younger. In Raisin in the Sun Mama and Walter’s American dreams conflict and impact the family through materialismRead MoreA Raisin In The Sun American Dream Essay1669 Words   |  7 Pagesfree† and home of the â€Å"American Dream.† According to James Truslow Adams in Epic of America, the American Dream is defined as â€Å"that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.† It is based on the foundations of the Declaration of Independence: the rights to Liberty, Life, and the Pursuit of Happiness (Amad eo, What is the American Dream?). People have the right to pursue their dreams and acquire a betterRead MoreThe American Nightmare: Lorraine Hansberry’s A Raisin in the Sun1011 Words   |  5 PagesIn Lorraine Hansberry’s â€Å"A Raisin in the Sun†, she uses the African American Younger family as a representation of the entire race’s struggle for the American Dream. 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After witnessing such a powerful yet melancholy piece of theater work, words seemed inappropriate. For three hours, A Raisin in the Sun encompassed us with racial, economic, and social issues of the 1950s. Swirling portions of humor, disgrace, pride, and sadness into a smooth blend, the play developedRead MoreThe American Dream By Lorraine Hansberry1570 Words   |  7 Pagesability to receive an education, and having freedom and equality. Is this American Dream really attainable for everyone? Some groups of American citizens seem less likely to ever achieve this dream even if they work hard. Society and their circumstances are against them either because of their race, gender or class. Women, minorities, immigrants and the poor are left out of the American Dream. They may strive for the dream, sometimes even for a num ber of generations, but they will only get so farRead MoreA Raisin In The Minds, And Innocent Is Irrelevant1015 Words   |  5 Pagesland their dream job. 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In Harlem (A Dream Deferred), Langston Hughes makes use of symbolism as well as powerful sensory imagery to show us the emotionsRead More A Comparison of the Dream Deferred in A Raisin in the Sun and Harlem1407 Words   |  6 PagesA Dream Deferred in A Raisin in the Sun and Harlem In Lorraine Hansberrys play A Raisin in the Sun, the author reveals a hard-working, honest African-American family struggling to make their dreams come true. Langston Hughes poem, Harlem, illustrates what could happen if those dreams never came to fruition. Together, both Hansberry and Hughes show the effects on human beings when a long-awaited dream is thwarted by economic and social hardships. Each of the characters in A Raisin

Jp Morgan Chase Annual Report Free Essays

string(54) " back to 1799 and operates in more than 50 countries\." JPMorgan and Chase 2011 Financial Analysis Abbiton Mumba , Bomboma Douti, Thuy Doan, Tracy Nguyen [Type the company address] General Information: JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan and Chase is basically included Chase- the U. S. We will write a custom essay sample on Jp Morgan Chase Annual Report or any similar topic only for you Order Now consumer and commercial banking businesses serve customers under the Chase brand. The consumer businesses include: Branch, ATM, telephone and  online banking, Credit cards, Small business, Home finance and  home equity loans, Auto finance, Education finance, Retirement Investing, Retail Checking. The commercial banking businesses include: Middle Market, Corporate Client Banking, Commercial Real Estate, Business Credit, Equipment Finance, Commercial Term Lending, Community Development. – and JPMorgan which is J. P. Morgan clients include the world’s most prominent corporations, governments, wealthy individuals and institutional investors. These businesses use the  J. P. Morgan brand: Investment Bank, Asset Management, Treasury Services, Worldwide Securities Services, Private Banking, Private Client Services, One Equity Partners. The corporate headquarters are in  270 Park Avenue,  Midtown,  Manhattan, New York City, New York, and the  retail  and  commercial bank  is headquartered in  Chase Tower,  Chicago Loop,  Chicago, Illinois, United States. The biggest event recently that JPMorgan anticipating in is acquisition of Washington Mutual in 2008. JPMorgan Chase raised $10  billion in a stock sale to cover write-downs and losses after taking on deposits and branches of Washington Mutual  Through the acquisition, JPMorgan now owns the former accounts of  Providian Financial, a credit card issuer Washington Mutual acquired in 2005. The company announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009. JPMorgan and Chase has the fiscal year end Dec 31. Internet Information: The internet address of the corporation is www. jpmorgan. com. The website provides broad information. The most important section is the â€Å"Investor relation† section. We can find Financial Information including annual report/ proxy statements, SEC filing, earning release, credit releases, Investor presentations , shareholder information including stock price history. The purpose of website is describe the corporation, provide customer service information, promote the industry the corporate in, provide employment information, publicize corporate citizenship. The annual reports and other different reports can be found in the government website www. sec. gov. The primary Standard Classification (SIC) is 6021 6029 6712 and the Central Index Key (CIK) number assigned to corporations that file with the SEC is 19617. The latest form 10-K is dated February, 29th, 2012. Basically, JPMorgan and Chase have a moderate change in the price of the common stock over the last two years. The biggest downward slope is between September 2011 to December 2011 and then it continues to be upward sloping. This fall price considers a narrow price range. Income Statement Compared to last year, Revenue growth decreased by -5. 3168%. A decreased of $5,460,000,000. The decline in net revenue from 2010 was driven by lower net interest income, securities gains, mortgage fees related income, and principal transactions revenue, partially offset by higher asset management, administration and commission revenue and higher other income. The increase in noninterest expense was driven largely by higher compensation expense, reflecting increased headcount. Despite the fact that the revenue lost than last year, over the last 5 year the company experienced the increased revenue due to net inflows to products with higher margins, higher deposit and loan balances, and the effect of higher average market levels. Growth in Revenue decreases than last year but Growth in profit increases by 9. 2458%. Although the Net Revenue of the current year is less than last year but Pre-provision profit on 2010 decreases from $16,639,000,000 to $7,574,000,000. That reason makes Growth in profit during the current year increased by 9. 2458%. Common-size Analysis: | Current Year| Previous Year| Revenue| 100%| 100%| Non-interest Expense| 64. 70%| 59. 59%| Interest Expense| 13. 99%| 12. 45%| Income Tax Expense| 7. 99%| 7. 29%| Income from continuing operations| 27. 51%| 24. 21%| Net Income| 19. 52%| 16. 91%| In general chase’s total non-interest expenses in 2011 rose 5. 11% higher than the total non-interest expense in 2010. The net income in 2010 seems lower than 2011 due to less operating and investment activities in 2010. Apart the item labeled other expenses and amortization of intangibles; all the other expenses were slightly higher. The increase in non-interest expense was driven largely by higher compensation expense reflecting headcount. The operating cost as part of the non-interest expense was definitely higher compared to 2010. The higher headcount visibly explains this increase. The provision for credit lost was 8. 41% lower than the 2010 provision. This was due to the amelioration of collection from customers. Consumer business modestly improved and mortgage net charge-offs and delinquencies improved. It is probably included in the item â€Å"other expenses† which were lower than 2010 but 6. 38% higher than 2009. Tax Burden: The total revenue in 2011 was 5. 62% lower than the revenue in 2011 but the bottom line was a lot higher than the previous year (2. 61%). The tax burden became consequently higher than the previous year; actually about 0. 7%. The increase in the tax burden due to the higher income in 2011 was definitely the result of the lower provision in credit loss in 2011. The provision in 2010 was about twice the provision in 2011, because of the lower interest revenue. Profitability in 2011 was better than the one in 2010. As a percentage of total revenue, net income was 2. 61% higher than the one in 2010. Net income in 2011 was by itself 9. 2 % higher than the one in 2010. This was again the result of the lower provision for credit losses. The consumer portfolio also improved. The decline in 2010 was driven by lower net interest income, security gains, mortgage fees and related income. The other-than-temporary impairment losses are included in securities gains for the periods presented was $27million in 2011 and $94 million in 2010. Balance sheet JPMorgan Chase ; Co. s one of the oldest, largest and best-known financial institutions in the world. The firm’s legacy dates back to 1799 and operates in more than 50 countries. You read "Jp Morgan Chase Annual Report" in category "Essay examples" JPMorgan and Chase is proved to be a mature firm with higher capital and liquidity. The Total Assets on the balance sheet grew $148,187 million, year en ding Dec 31, 2011 from previous year ending Dec 31 2010 representing a percentage of 0. 07. The change in Assets were partly due to the acquisition of RBS Sempra on July 1, 2010 and the transaction in 2011 of RBS Sempra which is a commodities’ global oil, global metals and European power and gas businesses. This acquisition almost doubled the number of clients the firm’s commodities’ business can serve and has enabled the firm to offer clients more products in more regions of the world. J. P Morgan Chase completed purchase of the remaining interest in High bridge, which resulted in $228 million Capital surplus. Missing Common size analysis Cash Flow Statement: The cash flows resulting from operation activities in 2010 and 2011 were -$3752 million and $95,932 million. The cash flow resulting from investing activities in 2010 and 2011 was $54,002 million and -$170,752. The cash flow resulting from financing activities in 2010 and 2011was -$49,217 million and $107,706 million. There was a significant increasing in cash $ 32,035 in 2011 and a little $1,361 million in 2010. The beginning in cash balance was $27,567 million and $26,206 million respectively in 2011 and 2010. The ending cash balance in 2011 and 2010 were $59,602 million and $27,567 million. There were three significant sources of cash which were from a hug number of net change in deposit, proceeds from long-term borrowings and trust preferred capital debt securities and from net earnings and sell securities. The three most significant uses of cash were taken from acquisition of businesses or dispositions, purchase securities and loans out and proceed from sales, securitizations and pay downs of loans held-for-sale and net change in trading assets. Based on a comparison of the income statement to the statement of the cash flows, depreciation and amortization in intangible was add back to statement of cash flow and other-than-temporary impairment losses are included in securities gains for the periods presented, caused the greatest differences net income ( loss) and the cash flow from operation. Statement of changes in Stockholders’ Equity: The number of common shares outstanding has decreased over 3 years. On March 18, 2011, the Board of Directors approved a $15. 0 billion common equity (i. e. , common stock and warrants) repurchase program, of which $8. 95 billion was authorized for repurchase in 2011. The $15. 0 billion repurchase program superseded a $10. 0 billion repurchase program approved in 2007. During 2011 and 2010, the Firm repurchased (on a trade-date basis) an aggregate of 240 million and 78 million shares of common stock and warrants, for $8. 95 billion and $3. 0 billion, at an average price per unit of $37. 35 and $38. 9, respectively. The Firm did not repurchase any of the warrants during 2010, and did not repurchase any shares of its common stock or warrants during 2009. As of December  31, 2011, approximately 408 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, director compensation plans, and the warr ants sold by the U. S. Treasury. Retained Earnings: fixed Dec 31 2011 Dec 31 2010 Beginning Retained earnings (2008) $54,013,000,000 Net Income $944. 00, 000 $1,001,000,000 Ending Retained Earnings $88,315,000,000 $73,998,000,000 From the number above we can conclude that Retained earnings increased in 2008 to $88,315,000,000 from $73,998,000,000 in 2010. Notes and supporting schedules to the financial statements. Cash and cash equivalents: the corporation define their cash equivalents by fund invested in US, T-bills, money market account, demand deposits or small-denomination time deposit and other investment with a maturity of 3 months or less when purchase. Account receivable: The corporation has the gross Account Receivable of $89,087 million current year and $102,413 million in 2010 reflects to 30. 9% and 31. 5% percentage of uncollectible. The lower the ratio the better, JPMorgan and Chase’s percentage uncollectible for 2011 is slightly better than 2010. The results of the receivable turnover in 2011 and 2010 were 1. 48 times and 2. 69 times respectively. The higher the turnover is the better. However, the current year 2011 is lower than the previous year 2010. This is the result of the higher revenue in 2010. Inventories: N/A Property and Depreciation: The Corporation classified its property, plant and equipment into five categories: land, buildings, leasehold improvements, furniture and fixtures, hardware and software. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset. None of the assets were recognized as impaired during the current year. The Accumulated Depreciation increased from $13,355,000,000 of last year to $14,041,000,000 of current year. Despite the land or construction in progress, percentage of Fixed Asset Depreciation was approximately 23. 17% last year and 23. 26 % this year. For the percentage of fixed asset depreciation do not included land and construction in progress, there is slightly increased from last year to this year. The increase in premise and equipment was predominantly due to renovation of J. P Morgan Chase’s headquarters in New York City, the purchase of a building in London, retail branch expansion in the US, and investment in technology hardware and software, as well as other equipment. The increase was particularly offset by depreciation and amortization. This implies that in the future the company will spend more money on replacing the old equipment and that means it impacts on the capital expenditure on their financial statement. However, the company applies on the fixed asset turnover to generate revenue. The ratios are 7. 50 times last year and 7. 0 this year Operating and Capitalized leases: JP Morgan Chase hasn’t declared any capitalized leases in the 2011 10K. We do have a section devoted to operating leases. Obligation associated with operating leases in 2011was $2,228 million, and expense associated with operating leases in the current year is $1,825 million. Payment for operating leases next year is $1,753 million. Long term debt: JPMorgan Chas e issues long-term debt denominated in various currencies, although predominantly U. S. dollars, with both fixed and variable interest rates. Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2011. Most debts were JPMorgan Chase Capital. The five largest debt were JPMorgan Chase Capital X $1,016 million in amount with the rate of 7%, JPMorgan Chase Capital XXV $2,292 million in amount with the rate of 6. 8% rate, JPMorgan Chase Capitals XXVI $1,815 million in amount with the rate of 8. 0% , JPMorgan Chase Capitals XXVIII $1,500 million in amount with the rate of 7. 2%, JPMorgan Chase Capitals XXIX $1,500 million in amount with the rate of 6. 7%. Those debts aren’t due until next 30 years. JPMorgan and Chase don’t have any significant debt payment outstanding. Pension Plans: JPMorgan and Chase recognize in its statement of financial position the funded status of a benefit plan; measure defined benefit plan assets and obligations as of the end of the employer’s fiscal year (with limited exceptions) and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise but are not recognized as components of net periodic benefit costs pursuant to prior existing guidance. JPMorgan and Chase don’t have Defined Contribution Pension expense but Defined Benefit Pension with the expense of 11,808 billion. Defined benefit obligation in the current year: $13461 millions for U. S and Non U. S plans. Fair value of the retirement plan assets at the end of the current year: At December 31, 2011 defined benefit pension plan amounts not measured at fair value included $50 million. At the end of December 2011, the accumulated defined benefit pension obligation had a balance of ($9,008) million, but in my opinion, the plan is well funded. At December 2011, the plan was said to have 2. 6 billion balance overfunded. It is clearly stated in the notes that by December 31st 2011, the U. K plan was $33 million unfunded. Amount recognized on the balance sheet related to pension: $ 1,429 million funded in the U. S, and a non-U. S balance of 160 million. The amount contributed to the defined benefit pension plan in 2011 was 37 million for the U. S and 169 million for the Non-US. $540 million were paid to retirees in the U. S whereas 93million were paid to non U. S in 2011. Investments in the defined benefit pension fund are the Firm’s U. S. defined benefit pension plan assets are held in trust and are invested in a well-diversified portfolio of equity and fixed income securities, real estate, cash and cash equivalents, and alternative investments (e. . , hedge funds, private equity, real estate and real assets). Non-U. S. defined benefit pension plan assets are held in various trusts and are also invested in well-diversified portfolios of equity, fixed income and other securities. Assets of the Firm’s COLI policies, which are used to partially fund the U. S. OPEB plan, are held in separat e accounts with an insurance company and are invested in equity and fixed income index funds. The investment policy for the Firm’s U. S. efined benefit pension plan assets is to optimize the risk-return relationship as appropriate to the needs and goals using a global portfolio of various asset classes diversified by market segment, economic sector, and issuer. Assets are managed by a combination of internal and external investment managers. Periodically the Firm performs a comprehensive analysis on the U. S. defined benefit pension plan asset allocations, incorporating projected asset and liability data, which focuses on the short-and long-term impact of the asset allocation on cumulative pension expense, economic cost, present value of contributions and funded status. Postretirement Benefits other than Pensions: there is no expense associated with non-pension post-retirement benefit. Benefits obligation for the non-pension post-retirement benefit plan was $999 million in 2011. Fair market value of assets held for non-pension post-retirement benefits plan was 1,435 million in 2011. The plan is adequately funded. The fair market value of the post-retirement benefit plan has enough resources to operate. Amount recognized on the balance sheet related to the non-pension post-retirement plan was $436 million. Amount contributed to non-pension post retirement benefits during the current year is $2 million, and amount of non-pension post retirement benefits paid to retirees during the current year is $26 million. Income Taxes: The income tax expense for the current year in the income statement is $7,773 million and $1,693 million of the current year’s income tax expense has been deferred to future periods. The effective tax rate for current year is 29. 1%. There are two types of Income taxes disclosed on the notes: Gross deferred tax asset is $27,632 million and Gross deferred tax liability is $12,856 million. As the results, the Net deferred tax amount is $14,776 million. The significant activities resulted in recognition of deferred tax liabilities that are not yet due to a tax authority are depreciation and amortization, leasing transactions, non-US transaction and others. On other hand, the significant activities led to the recognition of deferred tax assets will be utilized in the future are allowance for loan losses, employee benefits, accrued expenses and others, non-US operations, tax attribute carry forwards. Stock-Based Compensation: MISSING Segmental and Geographic Information: JPMorgan Chase Co. JPMorgan Chase) is a financial holding company. The Company is a global financial services firm and a banking institution in the United States, with global operations. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase’s prin cipal bank subsidiaries are JPMorgan Chase Bank, National Association, a national bank with the United States branches in 23 states, and Chase Bank USA, National Association, a national bank that is the Company’s credit card-issuing bank. The bank and non-bank subsidiaries of JPMorgan Chase operate nationally, as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. One of the Company’s principal operating subsidiaries in the United Kingdom is J. P. Morgan Securities Ltd. , a subsidiary of JPMorgan Chase Bank; N. A. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. The Company’s wholesale businesses comprise the Investment Bank (IB), Commercial Banking (CB), Treasury Securities Services (TSS) and Asset Management (AM) segments. The Company’s consumer businesses comprise the Retail Financial Services (RFS) and Card Services Auto (Card) segments. Contingencies: NEED TO FIX Probable Litigation: The Firm has established reserves for several hundred of its currently outstanding legal proceedings. The Firm accrues for potential liability arising from such proceedings when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated. The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downwards, as appropriate, based on management’s best judgment after consultation with counsel. During the years ended December 31, 2011, 2010 and 2009, the Firm incurred $4. 9 billion, $7. 4 billion and $161 million, respectively, of litigation expense. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future. Mortgage Foreclosure Investigations and litigation: JPMorgan Chase and four other firms have agreed to a settlement in principle (the â€Å"global settlement†) with a number of federal and state government agencies, including the U. S. Department of Justice, the U. S. Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the State Attorneys General, relating to the servicing and origination of mortgages. The global settlement, which is subject to the execution of a definitive agreement and court approval, calls for the Firm to, among other things: (i) make cash payments of approximately $1. billion (a portion of which will be set aside for payments to borrowers); (ii) provide approximately $500 million of refinancing relief to certain â€Å"underwater† borrowers whose loans are owned by the Firm; and (iii) provide approximately $3. 7 billion of additional relief for certain borrowers, including reductions of principal on first and sec ond liens, payments to assist with short sales, deficiency balance waivers on past foreclosures and short sales, and forbearance assistance for unemployed homeowners. If the Firm does not meet certain targets for provision of the refinancing or other borrower relief within certain prescribed time periods, the Firm will instead make cash payments. ) In addition, under the global settlement the Firm will be required to adhere to certain enhanced mortgage servicing standards. Overdraft Fee/Debit Posting Order Litigation: JPMorgan Chase Bank, N. A. has been named as a defendant in several purported class actions relating to its practices in posting debit card transactions to customers’ deposit accounts. Plaintiffs allege that the Firm improperly re-ordered debit card transactions from the highest amount to the lowest amount before processing these transactions in order to generate unwarranted overdraft fees. Plaintiffs contend that the Firm should have processed such transactions in the chronological order they were authorized. Plaintiffs seek the disgorgement of all overdraft fees paid to the Firm by plaintiffs since approximately 2003 as a result of the re-ordering of debit card transactions. The claims against the Firm have been consolidated with numerous complaints against other national banks in multi-District litigation pending in the United States District Court for the Southern District of Florida. The Firm’s motion to compel arbitration of certain plaintiffs’ claims was initially denied by the District Court. On appeal, the United States Court of Appeals for the Eleventh Circuit vacated the District Court’s order and remanded the case for reconsideration in light of a recent ruling by the United States Supreme Court in an unrelated case addressing the enforcement of an arbitration provision in a consumer product agreement. The Firm has reached an agreement in principle to settle this matter in exchange for the Firm paying $110 million and agreeing to change certain overdraft fee practices. The settlement is subject to documentation and court approval. Service Members Civil Relief Act and Housing and Economic recovery Act Investigations and litigation: multiple government officials have conducted inquiries into the Firm’s procedures related to the Service Members Civil Relief Act (â€Å"SCRA†) and the Housing and Economic Recovery Act of 2008 (â€Å"HERA†). These inquiries were prompted by the Firm’s public statements about its SCRA and HERA compliance and actions to remedy certain instances in which the Firm mistakenly charged active or recently-active military personnel mortgage interest and fees in excess of that permitted by SCRA and HERA, and in a number of instances, foreclosed on borrowers protected by SCRA and HERA. The Firm has implemented a number of procedural enhancements and controls to strengthen its SCRA and HERA compliance. In addition, an individual borrower filed a nationwide class action in United States District Court for South Carolina against the Firm alleging violations of the SCRA related to home loans. The Firm agreed to pay $27 million plus attorneys’ fees, in addition to reimbursements previously paid by the Firm, to settle the class action. Additional borrowers were subsequently added to the class, and the Firm agreed to pay an additional $8 million into the settlement fund. The court entered a final order approving the settlement in January 2012. Reasonable Possible: The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5. 1 billion at December 31, 2011. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm is involved, taking into account the Firm’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Firm does not believe that an estimate can currently be made. The Firm’s estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many are currently in preliminary stages), the existence in many such proceedings of multiple defendants (including the Firm) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Firm’s estimate will change from time to time, and actual losses may be more than the current estimate. Auction Rate Securities Investigations and Litigation: Beginning in March 2008, several regulatory authorities initiated investigations of a number of industry participants, including the Firm, concerning possible state and federal securities law violations in connection with the sale of auction-rate securities. The market for many such securities had frozen and a significant number of auctions for those securities began to fail in February 2008. The Firm also faces a number of civil actions relating to the Firm’s sales of auction-rate securities, including a putative securities class action in the United States District Court for the Southern District of New York that seeks unspecified damages, and individual arbitrations and lawsuits in various forums brought by institutional and individual investors that, together, seek damages totaling approximately $50 million. The actions generally allege that the Firm and other firms manipulated the market for auction-rate securities by placing bids at auctions that affected these securities’ clearing rates or otherwise supported the auctions without properly disclosing these activities. Some actions also allege that the Firm misrepresented that auction-rate securities were short-term instruments. The lawsuits are being coordinated before the federal District Court in New York. Additionally, the Firm was named in two putative antitrust class actions. The actions allege that the Firm, along with numerous other financial institution defendants, colluded to maintain and stabilize the auction-rate securities market and then to withdraw their support for the auction-rate securities market. In January 2010, the District Court dismissed both actions. An appeal is pending in the United States Court of Appeals for the Second Circuit. Interim (Quarterly Reporting: During the current year 2011, the company’s revenue for 1st quarter is $25,221 million, 2nd quarter is $26,779 million, 3rd quarter is $23,763 million and 4th quarter is $21,471 million. There is a significant fluctuation in quarterly data because It experienced a decrease in revenues during the current year from 1st quarter to 4th quarter. Report of independent Auditors: Auditor is PricewaterhouseCoopers LLP located at 300 Madison Avenue New York, NY 10017. The auditor believes that the financial statements were presented fairly. Their opinion is stated as follow: In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, changes in stockholders’ equity and comprehensive income and cash flows present fairly, in all material respects, the financial position of JPMorgan Chase ; Co. and its subsidiaries (the â€Å"Firm†) at December 31, 2011 and 2010, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Report of Internal control: Management of JPMorgan Chase ; Co. (â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for establishing and maintaining adequate internal control over financial reporting. The same authority, Management of JPMorgan Chase ; Co. â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for maintaining adequate internal control over financial reporting. The auditor does believe that the corporation maintained adequate internal control over financial reporting. Here is their opinion: â€Å"in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Ratio Analysis Analysis of profitability: The profit margins were 16. 1% and 19. 52 % to the following 2010 and 2011 year end. The increase in profit margin due to the advantage of the allowance for losses, noninterest revenue and interest expense. Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U. S. GAAP absent the fair value option election; for those instruments, all changes in fair value including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. The corporation has the return on assets of 0. 86% in 2011 and 0. 79% in 2010. The returns on assets were significant low compare to return on stockholder’s equity of 10. 5% in 2011 and 9. 66% in 2010. In general, JPMorgan and Chase is a big corporation, but they had a tight controlled and managed very well. Therefore, their earning is improved and very stable in recent year although the economy looks doom. Earnings per share (â€Å"EPS†) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to re ceive dividends. JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive non-forfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an anti-dilutive effect are excluded from the computation of diluted EPS. EPS in 2011 was $4. 50 compare to 2010 of $ 3. 98. This increase is the result of increasing in net income in 2011 due to better management. The corporation does disclose the diluted EPS with $4. 48 in 2011 and $3. 96 in 2010. Cash dividend per share in 2011 was $ 0. 94 dollar per share and $0. 36 dollar per share in 2010. Dividend payout ratio for 2010 was 16% and 35% in 2011. Price/ Earning ratio also improves between 2010 with 9. 26 times and 2011 with 9. 62 times. In the past decade, the average P/E ratio for Major Corporation has ranged from 14 to 25. JPMorgan and Chase’s P/E was below the range about 5 points. However, we can’t say that JPMorgan and Chase is no t growing. JPMorgan Corporation is huge plus with the gloomy economy right now, but this corporation still generates profitability while other corporation in the same industry is struggling. This tell us that JPMorgan is a stable for a long run. Analysis of Liquidity: JPMorgan and Chase had the current (working capital) ratio in 2011 of 1. 55:1 and 1. 71:1 in 2010. Net working capital was $964,168 million in 2011 and $932,220 in 2010. Quick (Acid –Test) ratios were 0. 28:1 in 2011 and 0. 31:1 in 2010. The liquidity position of the corporation weakened a little in 2011. Although there was an increase in cash and receivables in 2011, there was less account receivable compared to 2010. There was also a large increase in current liabilities in 2011, because of the increase in deposit. Based on this, JP Morgan Chase should be able to meet its current obligation even though the ratio was a little down compare to the previous year of 2010. Since it is a big and sustainable corporation in the financial industry, there is rarely a change for them to have a problem with the working capital. Analysis of Solvency: Debt to total Assets in 2011 was 91. 8% and 91. 6% in 2010. There is not much difference between the debt to assets ratio showing the amount of leverage JP Morgan Chase used to finance its operations between the year 2011 and the year 2010.. The rule of thumb is to make sure that the bottom which is the assets is larger than the top which is the liabilities. The ratio of 91. 8% percent for the year 2011 and 91. 6% for the year 2010 at first glance would give an impression of a company which is over leveraged. This is not the case, JPMorgan Chase Debt to Assets ratio is very consistent with the banking industry standards especially banks of JPMorgan Chase size. Banks make money by lending other peoples money. It never hurts however, to bring the ratio a little lower as it would give the bank more space to maneuver should there be a financial melting in the general economy like the one experienced in 2008. Potential lenders would prefer the ratio to be as lower as much as possible because that would show that the company has more Assets than Liabilities which can help the company pay its debt when it’s due or assets that can be liquidated to pay its lenders should the company end up in liquidation. Missing Time Interest Earned Ratio Industry Competitor Comparison: A close competitor of JPMorgan Chase is Bank of America Corporation. The difference between these large banks is that Bank of America is primarily a bank operating in other financial services while J. P. Morgan is an investment firm also operating as a bank. It has offices in more than 60 countries of the world. Both companies have relatively similar gross profit percentages; but percentages changed if we go down to income from continuing operations of both companies. As we see on the table 3, we know that the Net income from continuing operations of JP Morgan Chase is greater than Bank of America Corporation. This shows that Chase is good at managing costs on other income and expenses besides selling general and administrative and others. On the balance sheets, we both see the similar common-size on total assets of both companies. Another difference between two of them is the profitability. As we see on Table 3, profit margin of Chase bank is higher due to net income (gain) while Bank of America experiences a net loss. Return on asset for both companies are pretty low on last year. Return on equity for Chase bank is higher that means the shareholders earn a sufficient return on their equity investment. The major different on Profitability ratio between two companies is the dividend payout ratio which is the Bank of America is way too high. It indicates the company pays high dividends whose stock price is temporary not good. Moreover, a high dividend payout ratio can also point to a mature company with few growth opportunities. On other hand, Chase bank has low dividend payout ratio that we know Chase is a fast-growing company whose shareholders willingly forego cash dividends, because the company uses the extra money to generate higher returns and, in turn, a high stock price. As a conclusion, JP Morgan Chase is more profitable than Bank of America Corporation. Compared on the liquidity ratios, both companies meet their requirements on pay their liabilities on time. If we take down to Acid test, we easily understand Bank of America has more liquid assets available to pay its current debts. On the debt ratio, both companies’ ratios are over 0. 5 which means both companies’ assets are finances through debts. On the Time interest earned ratio, JP Morgan Chase is little bit higher which is better since Bank of America Corporation Company has more debts. Last but not least, Operational ratios are very similar and they both efficiently know how to use the assets on sales. As the whole comparison between too biggest bank firms, I think they are overall doing very well on managing their companies. Taking on to the details, JP Morgan Chase has more probability on sales. Bank of America is still doing fine but if I prefer invest on JP Morgan Chase’ stock. |   JP Morgan ;Chase |   | Bank of America Corp. |   | Income Statement Common-Size Data|   |   |   |   | Gross Profit/Sales| 92. 0%|   | 95. 6%|   | Income from Continuing Operations/Sales| 19. 5%|   | 7. %|   | Balance Sheet Common-Size Data|   |   |   |   | Current Assets/Total Assets| 19. 5%|   | 42. 5%|   | Current Liabilities/Total Assets| 71. 4%|   | 74. 1%|   | Liabilities/Total Assets| 91. 9%|   | 89. 2%|   | Equity/Total Assets| 8. 1%|   | 10. 8%|   | Profitabilty Ratios|   |   |   |   | Profit Margin| 19. 5%|   | 1 . 3%|   | Return on Assets| 0. 9%|   | 0. 1%|   | Return on Equity| 10. 6%|   | 0. 7%|   | Dividend Payout Ratio| 18. 0%|   | 400. 0%|   | Liquidity Ratios|   |   |   |   | Current Ratio| 0. 62 :1|   | 0. 64:1|   | Quick Ratio| 0. 27 :1|   | 0. 2:1|   | Solvency Ratios|   |   |   |   | Debt/Total Assets| 0. 92|   | 0. 89|   | Times Interest Earned (Accrual)| 3. 00|   | 1. 12|   | Operational Ratios|   |   |   |   | Receivable Turnover| 1. 5|   | 1. 5|   | Inventory Turnover| N/A|   | N/A|   |  © 2008 William R. Pasewark|   |   |   |   | | | | | | Making Decision based on annual report Total net revenue for 2011 was $97. 2 billion, a decrease of $5. 5 billion, or 5%, from 2010. Results for 2011 were driven by lower net interest income in several businesses, lower securities gains in Corporate/Private Equity, ower mortgage fees and related income in RFS, and lower principal transactions revenue in Corporate/Privat e Equity. These declines were partially offset by higher asset management fees, largely in AM. Investment banking fees decreased from 2010, predominantly due to declines in equity and debt underwriting fees. The impact from lower industry-wide volumes in the second half of 2011 more than offset the Firm’s record level of debt underwriting fees in the first six months of the year. Advisory fees increased for the year, reflecting higher industry-wide completed MA volumes relative to the 2010 level. Management discussion and analysis) Revenues increased from 2009 to 2010 by 2. 25 %. The increase came in part from noninterest income, securities and principal transactions. The economy will be the most important factor on the banking industry in the next year. The mortgage industry is still hurting even if it shows some signs of improvement. JP Morgan showed a net profit of at 5 billion this first quarter of the year, but it is hard to predict if the total revenue at the end of the year would match the previous year’s revenues. Next year’s revenue is probably going to be in the 100-103 billion range. JP Morgan Chase’s income comes from diverse business units. The total revenues increased 2. 25% from 2009 to 2010. The increase came from asset management, the noninterest revenue, the security gains and the item marked other income. Also the reduction in the allowances for credit losses for mortgages and credit cards as a result of improved delinquency trends and lower estimated losses reflected the net revenue increase. Principal transactions revenue increased compared with 2009. This was driven by the Private Equity business, which had significant private equity gains in 2010, compared with a small loss in 2009, reflecting improvements in market conditions. Net income next year could be in the 19 to 20 billion range. In my opinion, JP Morgan chase’s assets will have a stable growth in the next few years. Despite the visible improvement in the economy, the banking industry is not likely to record rapid growth in the next few years. The recovery is still weak; investments are still lagging and so directly affecting the books of the banks. I expect the total Assets to increase a little more next year based on the mprovement in the broad United States and World economy. My belief is based on the fact that JPMorgan performed better than the average bank in 2010 and 2010 arguably the west years for any business in recent history due to the subprime mortgage melt down of the financial markets. The last few years so a high number of unemployment hitting 10% b efore starting drop later part of 2011 and the highest number of mortgage foreclosure. The mortgage industry as bottomed and the market is already healing and banks like Wellfargo are already posting stronger than expected results due to their mortgage based assets performing better than expected. JPMorgan Chase’s balance sheet looks relatively strong and do not show that it will need additional financing next few years. It has deposits in excess of $85,279,000,000 and it is sitting on cash of $59,602,000,000. JPMorgan Chase should not have a problem raising funds from the Capital market should they need additional financing based on the strength and growth of its balance sheet. The strength that JPMorgan chase has is the relative ability and strength of deposits which Chase can use to fund its business. This is one advantage banks like Lehman brothers that went under during the financial crisis may not have had. The three areas we see as the strongest aspect of JPMorgan Chase is high balance of deposits with the bank in the amount of 85,279,000,000 which shows the relative confidence the market in JPMorgan. Cash deposits are particularly important to banks because they use this morning to lend out for interest and other related fees. The 2011 balance show retained earnings in the amount $88,315,000,000 and retained earning $73,998,000,000 on the 2010 balance sheets respectively. This is important because it shows that JPMorgan Chase have enough resources to fund it operations and enough left over to reinvest into the business for future growth. The Debt to Total Asset ratio was 91. 8% 2011 and 91. 6% 2010 respectively showing that JPMorgan Chase has more Assets than Liabilities which should help the firm raise financing from the markets . should there be a need. This always a good indication to the investors that there investment is covered should the company goes into liquidation. One of the biggest weaknesses we identified was the relative number of law suits and the amount funds that is being spent on settling law suits. Though the Debt income ratio is way better than most of the banks in its industry, we believe it would be helpful to bring the amount of leverage down to somewhere around . 075 % to better absorb economic shocks in the larger economy. We are very optimistic for the future of JPMorgan Chase especially as the mortgage industry bottom out and American economy continues creating jobs;we will see banks start do declare above average profits. The firm’s Stock price at 43. 4 is performing relatively better than it competitors like Bank of America at 8. 8 and Citi group at 34 indicating that investors still have confidence in the company. We would not invest in the stock of JPMorgan Chase stock at the moment even if we had money available to invest because we strongly feel that JPM Morgan already a very mature company and does not offer much potential for growth. We would instead invest in competitors such Capital One Corp. which is a relatively small and growing company with enough potential for growth. There stock price also now at 53 has performed better than JPMorgan Chase over the past year. How to cite Jp Morgan Chase Annual Report, Essay examples