Jean Renoir’s film ‘A Day in the Country’ and Guy de Maupassant’s story ‘A Country Excursion’ A comparative analysis in the context of Dudley Andrews’ three adaptation strategies Essay Example

Jean Renoir’s film ‘A Day in the Country’ and Guy de Maupassant’s story ‘A Country Excursion’: A comparative analysis in the context of Dudley Andrews’ three adaptation strategies Essay Introduction: A Day in the Country is one of Renoir’s early forays into narrative story telling. One can see the tentativeness of a filmmaker finding his feet in the new medium which was only a few years past the silent films era. A characteristic of the fledgling days of cinema was its seeking of ideas and stories from classic literature and theatre. In the context of French cinema, works of such iconic writers as Victor Hugo, Emile Zola and Alexander Dumas were heavily drawn upon. Guy de Maupassant’s short story A Country Excursion is one among many instances of early cinema embracing literature. But there are numerous challenges in adapting a work of art to a radically different medium. Theatre and cinema can be said to share some affinity in terms of principles of mise-en-scene, accepted rules of screen-play, shared exploration of genres, etc. But literature to film is a big leap and film theorist Dudley Andrew identifies three basic types of adaptation – borrowing, intersecting and transforming sources. In the case of A Day in the Country to varying degrees all the three types are at play. We will write a custom essay sample on Jean Renoir’s film ‘A Day in the Country’ and Guy de Maupassant’s story ‘A Country Excursion’: A comparative analysis in the context of Dudley Andrews’ three adaptation strategies specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Jean Renoir’s film ‘A Day in the Country’ and Guy de Maupassant’s story ‘A Country Excursion’: A comparative analysis in the context of Dudley Andrews’ three adaptation strategies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Jean Renoir’s film ‘A Day in the Country’ and Guy de Maupassant’s story ‘A Country Excursion’: A comparative analysis in the context of Dudley Andrews’ three adaptation strategies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Borrowing: The film is said to be borrowed from the short story to the extent that there is divergence in their details pertaining to characterization, geographic description, projection of individual motive, etc. In borrowing, â€Å"the artist employs, more or less extensively, the material, idea, or form of an earlier, generally successful text†¦the adaptation hopes to win an audience by the prestige of its borrowed title or subject†¦at the same time it seeks to gain a certain respectability, if not aesthetic value, as a dividend in the transaction†. (Andrew, p.422) Renoir’s work satisfies some of these criteria better than others. Certainly the literary work is the very basis for the project of the film. Moreover, Maupassant was a household name in early twentieth century France, and thus brings a degree of prestige to the project at hand. But the particular short story, A Country Excursion, does not have the same name recollection as its author does. Renoirâ€⠄¢s enterprise does succeed in fulfill the twin key criteria of bringing respectability and aesthetic value to the transaction. The cinema produced is no injustice to the artistic standards of its source. The additional provisions afforded by the new medium add more vibrancy and color to the source text. So the idea of the film can certainly be said to have been borrowed, though with certain qualifications. Intersection: This form of adaptation is found to be the weakest in A Day in the Country. Intersection is the most infidel methods of transmuting words to film due to its limited objective. The goal of the filmmaker is less constrained, for he/she is not concerned with the entire written work but only one idea/feature within it. The task then is to experiment and find out what ‘cinema’ as a medium can ‘do’ to the original. At its heart is creative curiosity and experimentation on the part of the director. Renowned French film critic Andre Bazin has expressed intersection through the metaphor of light. Andrews paraphrases Bazin thus, â€Å"here the original artwork can be likened to a crystal chandelier whose formal beauty is a product of its intricate but fully artificial arrangement of parts while the cinema would be a crude flashlight intersecting not for its own shape or the quality of its light but for what it makes appear in this or that dark corner† (Andrews, p.423) Seen in light of this definition, A Day in the Country is the cinematic intersection of the literary work, for it brings to the table unique cinematic qualities of expression. This is most evident in passages in the film where dialogue takes backseat to visual setting, camera angles, dramatic pauses, shot montages, etc. Renoir’s application of intersection succeeds because â€Å"it produces an experience of the original modulated by the peculiar beam of the cinema.† (Andrews, p.423) Transformation: Under this framework of analysis the keywords are ‘fidelity’ and ‘essence’. To study transformation is to measure the extent to which the original text is retained in the film. Andrew identifies two broad classes – those that conform to the ‘letter’ of the source and the rest that are attuned to capturing the ‘spirit’ of the original. The â€Å"letter would appear to be within the reach of cinema for it can be emulated in mechanical fashion. It includes aspects of fiction generally elaborated in any film script providing the fiction’s context, and the basic narrational aspects that determine the point of view of the narrator (tense, degree of participation, and knowledge of the storyteller, etc†¦the skeleton of the original can, more or less thoroughly, become the skeleton of a film.† (Andrew, p.423) Evaluated in the light of this understanding of transformation, A Day in the Country is a work of very-high fidelity. Various aspects of the audio-visual narrative, including the characters and their inter-relation, the geographical, sociological, and cultural information, etc adheres to the Maupassant text. Even when evaluated for the transformed work’s capturing of the ‘essence’ of the original, the film in question answers affirmatively. The story, in essence, is one of chance romantic opportunity that eventually turns out to be a nostalgic memory for Henri and Henriette. This is the central feeling that the reader of the short story as well as the viewer of the film carry with them afterwards. It can be claimed that Renoir’s faithful replication of various socio-cultural details mentioned in the original is not for its own sake but in order to encapsulate the ‘spirit’ or ‘essence’ of its source. Works Cited: Dudley Andrew, Adaptation, From Concepts in Film Theory, retrieved from on 23rd October 2013 Guy de Maupassant, A Country Excursion, retrieved from on 23rd October 2013 A Day in the Country (Partie de Campagne) 1936, accessed from on 23rd October 2013

The eNotes Blog Man Booker Prize ShortlistAnnounced

Man Booker Prize ShortlistAnnounced One of the most coveted accolades in the literary world is to be shortlisted for the Man Booker Prize.   As 1996 winner Graham Swift commented, Prizes dont make writers and writers dont write to win prizes, but in the near-glut of literary awards now on offer, the Booker remains special. Its the one which, if were completely honest, we most covet. The $50,000 is quite nice as well. Not only do authors look forward to the prize, but so too do booksellers. Following the announcements of the lists and the eventual winner, sales historically increase exponentially. The prize is awarded yearly to the best novel written in the English language.   The longlist, comprised of   thirteen novels, was announced on July 27. That longlist was pared down to a six novels on September 7. The eventual winner will be revealed on October 12. This years contenders are: Peter Carey Parrot and Olivier in America (Faber and Faber) Emma Donoghue Room (Picador Pan Macmillan) Damon Galgut In a Strange Room (Atlantic Books Grove Atlantic) Howard Jacobson The Finkler Question (Bloomsbury) Andrea Levy The Long Song (Headline Review Headline Publishing Group) Tom McCarthy C (Jonathan Cape Random House) Man Booker also offers Reading Group Guides for all of the books in contention, including the works on the longlist.

Education study Essay Example | Topics and Well Written Essays - 1250 words

Education study - Essay Example Politicians have long been involved in this practice. A good example would be Mitt Romney, a man widely criticized for supporting a policy that calls for English only while simultaneously running commercials in Spanish dialect. This paper will provide insights on the controversies that surround political influence in languages. It explains why these controversies are still relevant. Afar from symbolism, promotion of any language in favor of others can be termed as fundamentally political. This American example forms a strong point of reference to such political language controversies. It would be to some extent right to say that the U.S is probably the home to countless bilingual speaking persons than any other nation on the globe. Culture diversity and linguistics has been extensive for more than two centuries owed to the fact that immigrants settled here from all walks and carried along their language, values and culture. However, regardless of the multiplicity of languages here, there are no limitations to the importance accorded to the common language. There has been a dominant, the colonizers’, language that has advanced to a variety referred to as a Standard American English’s emergence that incorporates native words and conjures its unique spelling and accent (Crawford 145). Those we call the founding fathers made it deliberate to leave designation in the United States of English as an official language mostly probably because it might not have occurred to them given that decision making was actively avoided in an attempt to accord respect to the national diversities. However, this idea has always been considered hostile to interdependence and interests of respective states brooding a tolerant attitude to be favorable. It was not until the 1980s that the anti-minority politics demanded its protection whilst restricting other languages. Political arenas had not taken up the language issues from the

Latin Christendom Essay Example | Topics and Well Written Essays - 1250 words - 1

Latin Christendom - Essay Example It was natural that a sense of rivalry between Latin Empire and Greek Empire should develop very readily. And still more readily did the rivalry of Greek-speaking Christianity and the newer Latin-speaking version develop† says Wells (1922, p.45). His rule was the time when State had the utmost supremacy and after his death, State power receded to the background and papacy became more important during years of Latin Christendom. It was a Latin speaking world and the States resented the enormous power wielded by the Church. By then, the Romans have become Christians and they could not abide with the papal power. Christianity started with the high principles of brotherhood and tolerance, but with the high individuality cherished by Romans, Church found it necessary to have effective control. â€Å"†¦ Christianity did cherish the principle of toleration and abandoned it only reluctantly as the need of maintaining social, and even political cohesion among Romans made centralization and authority unavoidable,† Pickman (1937, p.17\). On the other hand Byzantine Empire was the Greek speaking Roman Empire and under emperors like Constantine, it was a raw political power. Even though the emperors were totally in control, this did not rule out acute rivalry and existence of contenders to power. Rebelling against the state or defying it would have brought severe punishment. People were well protected, but had very few individual liberties. Rulers like Justinian were more focussed on empire expansion and control. Emperors did not look at the religious authority for succession, approval and guidance in ruling. No doubt the Christian power was ascending, but it did not control the political power. Byzantine rulers never accepted the superiority of the Church. The Emperor remained supreme and every other authority was defied. Byzantine were more autocratic than the States that

Woman in Yoruba Research Paper Example | Topics and Well Written Essays - 750 words

Woman in Yoruba - Research Paper Example This art included the use of wood, clay, stone, ivory, bronze, copper, and brass as material for these visual art works. Provenance in African arts is often hard to prove. This is the same case in Yoruba art where the artist is not clearly identified as the author of that art work. Concepts of authenticity in African art is different by virtue of the African concept of ownership; the owner of that art work is the person who ordered or commissioned an art work and not the artist himself. This is further compounded by the fairly recent commodification of African art (Stokes, 1999: 10). Many art objects were sold and re-sold to different private individuals and museums as result. It is not surprising that quite often, real authorship is lost and very hard to trace indeed. Hints in public knowledge of the real author of an art work may impinge on the owner in terms of prestige, power, and success in the public persona arena (ibid.). This is why most of Yoruba art hardly reflects on the real authorship but rather emphasizes the ownership of it. One aspect of Yoruba art that is very prominent is the use of art works in religious worship. A number of Yoruba art works reflect the ritualistic traditions among the people and an art work shown as an example here is good symbolism of the central role of religion (see Fig. 1). Women in Yoruba society occupy an important role. Although most scholarly literature points to a male-dominated society, this is not the case as validated by their works of art. The women in Yoruba have acquired divine authority as shown in the arts (Abiodun, 1989:2). It is a significant deviation from the common misconceptions of male dominance. The women as depicted in Yoruba art are almost always calm, dignified, and possessed of divine powers. In Yoruba art, women are accorded as powerful but also as subordinates (Olajubu, 2003:105). The essence of most Yoruba art is to

Method Of Calculating Shareholder Value Analysis Finance Essay

Method Of Calculating Shareholder Value Analysis Finance Essay This study illustrates the theory, model and method of calculating Shareholder Value Analysis using Alfred Rappaports SVA model. The literature review is the critical relevant work on capital structure. The literature review is focused bonds as a debt instrument. SHAREHOLDER VALUE ANALYSIS (SVA) AstraZeneca Plc. Alfred Rappaport in 1986 coined the term Shareholder Value Analysis. The concept of shareholder value analysis revolves around another concept called Value based management. The procedure for calculating Shareholder Value Analysis is to calculate the present value of the estimated cash flows with the cost of capital. As per Rappaport : Corporate Value = Shareholder value + Debt Shareholder value=Corporate Value- Debt To calculate the shareholder value, the corporate value needs to be calculated first. Corporate value of an entity can be calculated: Present value of cashflows during forecast period + present value of cashflows beyond forecast period To make the answers more precise and reliable, market value of marketable securities and other investments should be included The process of calculating SVA can be graphically depicted as in Figure 1 C17NF006 Figure : Faisal Ahhamad Seven value drivers of shareholder value as described by Rappaport are given below:- Sales growth: Sales is a percentage, based on the trends of previous years, by which sales are expected to increase every year . In the case of AstraZeneca, the sales growth calculated on the basis of the past 5 years from 2006-2010, comes out to be 7%. Thus sales are expected to grow by 7% during the planning horizon. Operating profit margin: Operating margin is the percentage of the selling price which denotes profit. Thus profit margin denotes the percentage of revenues left after deducting all essential costs and overheads. Profit margin for AstraZeneca based on the trend of previous 5 years is 31%. Thus 31% of sales represents profit of the company. Tax: Tax rate is the percentage of your profits which is deducted as tax. HM Revenue and customs shows the tax rate for the year 2011 to be 28%. Based on the average of past trend, I calculated the same figure, ie. 28%. Incremental working capital investment: Incremental working capital represents the increase in the working capital based on the change in the sales. It is represented as percentage of change in sales. For Astra Zeneca the rate of incremental working capital investment is 102% of sales. Incremental Capital Investment: Incremental Capital Investment represents the increase in the fixed assets of the company based on the increase in sales. The ICI is represented as a percentage of sales. For Astra Zeneca the ICI percentage was calculated based on the trend of previous five years. The value of ICI is 1.12 of sales. Required Rate of Return: Required Rate of Return calculated for AstraZeneca is 7.15%. It is the Weighted Average Cost of Capital for AstraZeneca. It is based on the AstraZenecas beta as per the London Business School Risk Management Service Book which was .57 and the current Risk free rate 4.25%. The current Market premium has been taken to be 6% from Glen Arnold. The Require rate of return was calculated using CAPM. Planning Horizon: Planning horizon for the calculation has been taken to be 6 years. The SVA calculated for AstraZeneca =  £37.902 Billion. The real market capitalisation on the day of calculation was  £40.643 Billion The market is overvalued as the SVA of the company is coming to  £37.902 Billion. Critique of the SVA model Shareholder value model like any other model has been criticized for various reasons. SVA is a relatively simple model yet precise in its approach. The major criticism for SVA is that it takes assumptions regarding the trends. For say it assumes that the sales would increase at a constant rate for all years in planning horizon. More over it neglects ICI and IWCI when the values are negative. Therefore the calculation of the SVA cannot be said to be entirely correct. Literature Review of Capital Structure Focussing on Bonds as a source of finance Capital structure in the simplest terms can be described as a combination of various sources of finance that an enterprise uses for acquiring capital. Firms can acquire capital in various forms such as equity and debt. As these can be used in various proportions thus several various combinations or capital structures can exist. Capital structure as an area of academic study gained attention with the work of Modigliani Miller (1958) which concluded that capital structure was irrelevant to the value of a company. This conclusion was constructed on some key assumptions such as a perfect market with perfect knowledge, no taxes and no costs of transaction and that individuals had the capability to borrow at the same rate as big corporations, thus it assumed a high level of uniformity(see Arnold, 2005: pp.958). In 1963 Modigliani and Miller reviewed the conclusion and altered the no-tax assumption, thus changing the conclusion altogether. The new MM theorem suggested that when taxes were taken into consideration, the shareholder value maximization objective would be served with the highest level of gearing. This theorem served as the starting point for most post- 1960 work on capital structure. MM theorem was followed by two more central theories of capital structure known as the Pecking order theory and static trade off theory of capital structure. The earliest version of the Static theory of capital structure is attributed to Kraus and Litzenberger(1973). It suggests that companies choose their gearing levels based on the balance between costs of bankruptcy and the tax benefits derived from such gearing. Thus this theory suggested an optimal level of gearing where transactional and bankruptcy costs would be traded off by tax benefits and no more. Pecking order theory, propounded by Myers and Majluf (1984), on the other hand suggests that companies have a tendency to choose internally generated funds before exercising any other options of financing, followed by external debt leaving equity to be their last resort. Research by Almeida and Campello (2010) suggests a negative relationship between existence of internal funds and tendency to use external funding from debt. The actual prevalence of any of these theories in the real world is still a matter of debate and being tested constantly (Frank and Goyal, 2005; Jong et al, 2011) While the debate about a suitable level of gearing continues, one fact that has gained acceptance that gearing can increase shareholder value and if appropriately used can be a worthy financial tool for companies. This has provided companies with more options to acquire the necessary capital. Debt as an option is now being used by more and more companies as a means of raising finance through public and private placements (Buckley et al, 1998). Companies can acquire debt through various kinds of publicly traded bond instruments or from institutional lenders through term loans and private placements (Berk and DeMarzo, 2011). With the increasing number of options to raise capital, the dilemma of the firm is no more between equity and debt alone but also between what form of debt to use. Issuing of public debt involves high costs, especially fixed costs. Such costs are called floatation costs and are a major factor considered when deciding to raise debt from public (Blackwell and Kidwell, 1998). Smaller firms therefore find the it beyond their resources to carry out such an expensive issue. Thus bigger firms have the size and resources to raise public debt(Krishnaswami et al, 1999; Dennis and Mihov, 2003). Lack of appropriate information is also another major factor considered by investors. Thus any firm information about which is not readily available or verifiable would be subject to suspicion by the investors (Jensen and Meckling, 1976). Taking into consideration the perceived risk when lending to such a firm, the investors would desire a higher rate of return, unless and until they have greater control of and better supervision of the activities of the business. As individual debt holders from the public cannot exercise such close control, they prefer to settle for higher returns. To avoid paying higher interests some companies prefer to borrow from institutional lenders as they have the capability to closely supervise the activities of the firm. Institutional lenders such as banks achieve this by imposing Restrictive Covenants (Diamond, 1984). Such restrictive covenants cannot be imposed by individual owners of public debt instruments. Several different researches have shown that smaller firms, when opting for external debt financing prefer to opt for loans rather than bonds while bigger firms tend to use bonds as the preferred debt instrument(e.g. Krishnaswami et al, 1999; Dennis and Mihov, 2003). Dennis and Mihov(2003) suggest that larger companies with a highly debt geared capital structure may use their leveraging as an indicator of credibility and reputation, thus using it to raise debt from public. This statement is countered by Chemmanur and Fulghieris earlier(1994) statement that high leveraging may be seen as a sign of financial distress and debt renegotiations may become a complication in case debt is raised through public sources. Rao and Edmunds (2001) with regard to restrictive covenants and floating interest rates, state that firms do their shareholders a Disservice by taking private placed debt which comes along with floating interest rates and restrictive covenants. The floating interest rates make the future cash-flows of the firm unstable and the restrictive covenants restrict the growth of the firm, and thus shareholder value, by tying the hands of the management and owners. Smith and Warner(1979) suggest that restrictive covenants involved in privately raised debt may not be worth cost as it the restrictions imposed may discourage management from entering into projects which could have been potentially profitable. Such restrictive covenants and floating rates are usually part and parcel of institutional loans and privately raised debt. Rao and Edmunds(2001) favour bonds which give the firms freedom to operate in favour of the shareholders and to expect stability in their cashflows due to stable intere st rates.Bonds are a preferable form of raising debt publicly as it allows the firm to retain greater flexibility in operations and may turn out to be cheaper than traditional bank or institutional loans. Absolute lack of restrictive covenants can also be abused by the bond issuer at times. Certain situations are discussed as below:- Myers (1977) suggests underinvestment is a major issue for levered high growth business as being highly levered, management in such businesses may let go of positive NPV projects assuming that the returns would not suffice for distribution between the bondholders and stockholders. Myers(1977) further suggests that this problem can be taken care of with dividend covenants which cap the maximum amount of dividend distributable by a company to ensure that free cash flows are not distributed to shareholders, rather they are invested in worthy projects. As levered firms might have a higher tendency to let go of positive NPV projects, putting debt restrictions or debt covenants would help ensure that the firm does not take on more than a certain extent of debt and thus there will be no conflict of interests. Nash et al(2003) describe another situation, where covenants can be of benefit for bond holders, in which the bond issuer can dilute the claim of the bond holders by issuing another taking on more debt and issuing another claim of a higher priority. Under such circumstances the bond holders would be bearing more risk but would still get the interest rate fixed before more debt was acquired by the bond issuer. Certain covenants, which restrict acquisition of more debt or restrict issuing of claims which hold priority over the previous bond holders, can help reduce chances of such claim dilution. Fama and Miller(1972) call such rules as me-first rules. Nash et al(2003) further describes certain situations where the restrictive covenants would turn out to be detrimental for the bond holders themselves. One major drawback of restrictive covenants is the reduction in the flexibility of the management and stockholders. Thus due to restrictive covenants the management and stock holders might decide not to invest in high return projects just to avoid any risk. Such circumstances would lead to sacrifice of growth and thus the firms survival may itself be at stake. Another situation describe by Nash et al(2003) is the scenario where the bond issuing firm may be facing financial distress. Due to lack of operational flexibility and financially restrictive covenants the firm would not be able to generate ample cash flow or arrange external funding and thus would face bankruptcy. Nash et al(2003) and others have suggested certain ways around to cope with the drawbacks of restrictive covenants and to use them constructively. The first such option is the convertibility option. The bond holders should have the option to convert bonds into shares. Mayers(1998) contended that it would allow a level of flexibility to the management of the firm while discouraging the management to transfer any value from the debt holders to the shareholders as such transferred value would be recaptured on conversion of bonds to shares. Next option is to secure the debt with assets. Securing the bonds with tangible assets would provide a sense of security to the bondholders as they would have knowledge of their claim to a specific asset in case of default. Debt priority is another option given by Nash et al(2003) and supported by Fama and Millers(1972) as per their Me first rules. This arrangement would ensure that there is an existing agreement among all claimholders that the bond holders have priority over other claimants and that during the tenure of the bonds no new claimants would be given priority over them. In the end it can be concluded that bonds have certain advantages over other forms of debt like institutional loans and private placements . Such advantages should be capitalised on when considering the option of increasing the debt gearing in the capital structure. That would ensure availability of cheaper finance, increased flexibility and increase in shareholder value.

china :: essays research papers

THE CHANGING POLITICAL-MILITARY ENVIRONMENT: SOUTH ASIA The security environment in South Asia has remained relatively un-settled since the Indian and Pakistani nuclear tests of May 1998. The Indian government’s efforts to publicly emphasize the challenges China posed in the weeks leading up to those tests—after more than a decade of mostly sotto voce complaints—served to rupture the or-dinarily glacial process of normalizing Sino-Indian relations. This process always possessed a certain fragility in that the gradually de-creasing tensions along the Sino-Indian border did not automatically translate into increased trust between Beijing and New Delhi. Even as both sides sought to derive tactical advantages from the confi-dence- building measures they had negotiated since 1993—for ex-ample, the drawdown of forces along the utterly inhospitable LAC in the Himalayas—each ended up pursuing larger grand strategies that effectively undercut the other’s interests. Beijing, for example, per-sisted in covertly assisting the nuclear and missile programs of India’s local competitor, Pakistan, while New Delhi sought in re-sponse to develop an intermediate-range ballistic missile whose comparative utility lay primarily in targeting China. The repeated identification of China as a threat to Indian interests by both Bharatiya Janata Party (BJP) leaders and other influential Indian elites in the first half of 1998 not only underscored the fragile nature of the Sino-Indian rapprochement but also ruptured the carefully maintained faà §ade of improving relations between the two coun-204 The United States and Asia tries.1 When this public finger pointing ultimately gave way to India’s resumption of nuclear testing on May 11, 1998 (an event ac-companied by the Indian prime minister’s explicit claim that those tests were driven by the hostile actions of India’s northern neighbor over the years), security competition in South Asia—which usually appears, at least in popular perceptions, as merely a bilateral affair between India and Pakistan—finally revealed itself as the â€Å"regional strategic triangle†2 it has always been. This appendix analyzes Indian and Pakistani attitudes toward China in the context of the triangular security competition in South Asia. Taking the 1998 nuclear tests as its point of departure, it assesses how China figures in the grand strategies of the two principal states in the Indian subcontinent and identifies the principal regional geopolitical contingencies for which the United States should pre-pare over the next decade. Finally, it briefly analyzes the kinds of opportunities the region offers to the USAF as it engages, even as it prepares to hedge against, a rising China. NUCLEAR TESTING AND THE TRIANGULAR SECURITY COMPETITION IN SOUTH ASIA Impact of the Nuclear Tests on Sino-Indian Relations Although Pakistan was directly affected by the Indian nuclear tests, these tests engaged Chinese security interests as well. To begin with, India’s decision to resume testing made manifest New Delhi’s re-sentment

Effect of Presidential Elections on Businesses and Business Leaders

As the saying goes, â€Å"the only thing that is constant in life is change†. If we are not sure of anything, we should be sure of the fact that the outcome of the upcoming presidential election will bring about a change to the American economy. This impact will definitely spread across all sectors of the economy including U. S. businesses and business leaders. The question, however, is what the impacts foreseeable are? I would like to say that the impacts would be dependent on the presidential candidate that wins the election. If we are to go by what they have already highlighted as their plan if elected, Barack Obama winning the election might not be good news for U. S businesses and business leaders alike. In his campaign, he made it clear that his administration would offer tax cut to middleclass families and would definitely increase the tax of CEOs and corporations. If we are to judge from this, we might as well say that while this would be good news to the average American, it is the CEOs and the U. S. businesses who would bare the weight of the tax plan. Apart from this, Obama says he would hold corporations responsible for pensions and work conditions. This might be a back breaker for U. S businesses and business leaders on the whole. On the other hand, if it the election ends with Senator John McCain emerging victorious, then corporations and Business leader should be ready for a favourable tenure. Apart from the fact that Senator McCain promises to cut corporate tax, he claims that his administration would be on the side of U. S businesses and not in their way. He promised to cut corporate tax in order to maintain employment of workers in these corporations and he seems not to be concerned about U. S businesses using their resources to expand in other regions like Senator Obama. If we are judge from this, I think that U. S businesses and business leaders would flourish and expand if He assumes office. Summarily, the crux of the whole thing is that Senator Obama economic plan would favor the middleclass workers while it could be at the detriment of U. S businesses and business leaders. On the other hand, Senator John McCain’s economic plan seems favourable to U. S businesses and business leaders as he sees them as pivotal to keeping the jobs of Americans.

Must-Reads on Every 12th Grade Reading List

Must-Reads on Every 12th Grade Reading List This is a sampling of the titles that often appear on high-school reading lists for 12th-grade students, and are often discussed in greater depth in college literature courses. The books on this list are important introductions to world literature. (And on a more practical and humorous note, you might also want to read these 5 Books You Should Read Before College).   The Odyssey, Homer This epic Greek poem, believed to have originated in  the oral storytelling tradition, is one of the foundations of Western literature. It focuses on the trials of the hero Odysseus, who tries to journey home to Ithaca after the Trojan War. Anna Karenina, Leo Tolstoy The story of Anna Karenina and her ultimately tragic love affair with Count Vronsky was inspired by an episode in which Leo Tolstoy arrived at a railway station shortly after a young woman had committed suicide. She had been the mistress of a neighboring landowner, and the incident stuck in his mind, ultimately serving as the inspiration for a classic story of star-crossed lovers. The Seagull, Anton Chekhov The Seagull by Anton Chekhov is a slice-of-life drama set in the Russian countryside at the end of the 19th century. The cast of characters is dissatisfied with their lives. Some desire love. Some desire success. Some desire artistic genius. No one, however, ever seems to attain happiness. Some critics view  The Seagull  as a tragic play about eternally unhappy people. Others see it as a humorous albeit bitter satire, poking fun at human folly. Candide,  Voltaire Voltaire offers his satirical view of society and nobility in Candide. The novel was published in 1759, and it is often considered the authors most important work, representative of The Enlightenment. A simple-minded young man, Candide is convinced his world is the best of all worlds, but a trip around the world opens his eyes about what he believes to be true. Crime and Punishment, Fyodor Dostoyevsky This novel explores the moral implications of murder, told through the story of Raskolnikov, who decides to murder and rob a pawn broker in St. Petersburg. He reasons the crime is justified.  Crime and Punishment is also a social commentary on the effects of poverty. Cry, the Beloved Country, Alan Paton This novel set in South Africa just before apartheid became institutionalized is a social commentary on the racial inequities and its causes, offering perspectives both from whites and blacks. Beloved, Toni Morrison This Pulitzer Prize-winning novel is the story of the lingering psychological effects of slavery told through the eyes of escaped slave Sethe, who killed her two-year-old daughter rather than allow the child to be recaptured. A mysterious woman known only as Beloved appears to Sethe years later, and Sethe believes her to be the reincarnation of her dead child. An example of magical realism, Beloved explores the bonds between a mother and her children, even in the face of unspeakable evil. Things Fall Apart, Chinua Achebe Achebes 1958 post-colonial novel tells the story of the Ibo tribe in Nigeria, before and after the British colonized the country. Protagonist Okonkwo is a proud and angry man whose fate is closely tied to the changes that colonialism and Christianity bring to his village. Things Fall Apart, whose title is taken from the William Yeats poem The Second Coming, is one of the first African novels to receive universal critical acclaim. Frankenstein, Mary Shelley Considered one of the first works of science fiction, Mary Shelleys master work is more than just a story of a terrifying monster, but a Gothic novel that tells the tale of a scientist who tries to play God, and then refuses to take responsibility for his creation, leading to tragedy. Jane Eyre, Charlotte Bronte The coming-of-age story of one of the most remarkable female protagonists in Western literature, Charlotte Brontes heroine was one of the first in English literature to serve as first-person narrator of her own life story. Jane finds love with the enigmatic Rochester, but on her own terms, and only after he has proven himself worthy of her.

Brave essays

Brave essays It has been said that Muhammad is the "Seal of the Prophets," meaning that he was the last. However, our world has recently been graced by another prophet in Aldous Huxley. Huxley's prophetic vision is unmistakable in his science-fiction novel, Brave New World, in which he delivers a valuable message: control advancements in technology before they control us. Huxley supports this message with a strong example of a society that is so overrun by technology that the human race has lost their individuality, freedom, and ultimately their identity as human beings. In this "Brave New World," artificially-born humans are genetically engineered, divided into castes, molded into machines through hypnopaedia, and controlled by the drug Soma. The new world appears to be a perfect utopia on the surfacethere is no disease, no warfare, and no sadness. However, the humans have sacrificed thought, feelings, free will, and everything which makes one human to achieve this state. Through Brave New World , Huxley teaches us that these sacrifices are far too great and will eventually occur if humans continue to misuse technology in the future. Huxley's warning in Brave New World carries so much weight because of the truthful predictions he includes in the novel. Despite being written in 1932, Huxley predicts genetic engineering, test-tube babies, cloning, a loss of meaning in sexual relationships, and drug abuse. All of these predictions were far beyond his time, and all have either come true or are on the brink of occurrence. The most significant of these is his presentiment that production, not childbirth, will be the process in which humans are brought into this world. Just as Huxley predicted, scientists can now produce humans outside of the womb, and soon the cloning of human beings will be feasible. The concept of producing humans without parents is the foundation of the "Brave New World" that Huxley urges us to avoid. In Brave New World, Huxley's...

High Yield Junk Bonds Business Research Paper Example | Topics and Well Written Essays - 3750 words

High Yield Junk Bonds Business - Research Paper Example The corporate bonds with good or highly favorable rating grades are classified as â€Å"investment-grade bonds† while those with low ratings are called â€Å"low-grade† or â€Å"speculative† bonds or by their less formal term, â€Å"junk bonds† (Becketti, 1990). In other words, based on Becketti (1990), junk bonds, low-grade bonds, and speculative bonds are synonyms. According to Becketti (1990), a bond may be classified as a junk bond for three reasons. First, the outlook for the company may be highly unfavorable. Second, the issuing company for the bonds may have large or significant debts. Finally or third, is that the company’s legal claim on another firm’s assets which is in default or has serious risks of default may be behind the legal claims of other companies. However, Taggart pointed out that despite their low-investment grade status, junk bonds are nevertheless classified as â€Å"high yield bonds† by â€Å"those wishing to avoid pejorative connotations.† It is very important to state, however, that although junk bonds experience more default, they also tend to have higher returns. More recent data are not immediately available. However, for 1974-1985, the default on junk bonds stood at 1.53% compared to 0.09% for all bonds. The 1.53% may be high compared to 0.09% but certainly 1.53% seems low enough. Further, various reports also suggest that annual return for junk bonds was 12.4% compared to 9.7% for all long-term government bonds. (Taggart, 1987, p. 12). In the 1990s, many economic observers have attributed the country’s economic ills to junk bonds (Becketti, 1990, p. 46). Many observers believed that junk bonds and economic ills simultaneously emerged in the 1980s (Becketti, 1990). However, on the observation, th e appropriate interpretation is that the market for junk bonds actually became only popular in the 1970s and 1980s but they have been in the US economy for some time (Becketti, 1990). In 1977, new issues of junk bonds in the United States were close to zero but they steadily climbed up to around US$33 billion in 1986 and to around US$30 billion in 1989 (Becketti, 1990). Becketti (1990, p. 48) argued that despite their size in the US economy for close to two decades, â€Å"junk bonds are too small a part of the debt market to account for the growth in corporate debt.† Further, Becketti (1990, p. 48) also argued that although junk bonds are riskier than investment-grade bonds, they are â€Å"less risky than equities.† Becketti (1990, p. 48) also clarified that â€Å"junk bond returns lie between those of investment-grade bonds and equities.† In addition, â€Å"junk bonds are more liquid than bank loans and private placements but less liquid than equities† ( Becketti, 1990, p. 48). Junk bonds can also provide investors â€Å"more control over corporate management† than investment-grade bonds but less control than many financial instruments like equities (Becketti, 1990, p. 48). If one examines the descriptions of Becketti (1990), it should be easy to conclude that junk bonds aren’t too bad after all. Based on the literature that will be examined by this work on the nature of junk bonds and issues related to the acquisition of junk bonds, there is a genuine case for investing in junk bonds as well as improving the situation of the junk bonds market. Junk bonds are risky investments but they can be part of one’s investment strategy for increased wealth. Further, contrary to the view that our

Supply Chain Class--Company analysis Case Study

Supply Chain Class--Company analysis - Case Study Example For the last 25 years, many companies have been negatively affected by the failure of their supply chain an aspect that has caused some of these companies to be acquired by their competitors at very low prices. Other failed companies have resulted to loss of a lot of investor’s funds thus resulting to their closure and court litigation as the investors seek for compensation. This paper will discuss common mistakes that are done by the company leading to supply chain disasters. One of the key mistakes that companies make is failure to do an extensive research on the suitability of the technology in improving their supply chains. For example, in its effort to improve production, Foxmeyer failed to research on how effective the new ERP system and the highly automated DC would be. Despite the efforts by the consultant to notify the company management that some areas of the new technology were not properly functioning, no step was taken. That ignorance has also greatly contributed to the supply chain disasters. Lack of undertaking feasibility studies that involves the evaluation of the benefits and costs associated with the supply chains is also a mistake that led to their failure. It is vital to note that before any company invests in new technology or a supply chain, it is essential to calculate the returns that are expected. For example, despite being an experienced manager, Robert Smith, the General Motors CEO failed to evaluate the performance of the robot technology leading to a supply chain problem that entailed loss of billion dollars in the investment (Supply Chain Digest, 2009). Lack of adequate market research is also another mistake that companies have made. Market research is crucial since it allows a company to initiate system that will provide products that will meet ready market. However, some companies such as Webvan, an online grocer invested in automated warehouses that reduced the company capital to a great extent yet the market demand for its products was very low. The same case applied to Cisco. On its part, Cisco, failed to initiate an inventory visibility study as well as adoption of poor market research leading to piles of products that were not demanded in the market. As a result, Cisco wrote down its inventory while the stock decreased by 50%. The company has yet to recover. During the planning stages of the management, most of the companies that faced the supply chain disasters did not skilled man power to undertake the task. As result, the managements were not aware of the repercussion of either adopting new system or even entering new markets. For instance, in its effort to move its production facility from Manila to low costs countries in 1994, Aris Isotoner resulted to reduction of costs by 50% while the Isotoner unit was sold to Totes. A mistake of poor estimation of the number of products and the delivery time is also a major cause of the supply chain disasters. For example, in 1999 Toys R Us.com compan y failed to realize that its system was not able to produce and deliver thousands of orders to its customers. This created a negative public image even though the company outsourced the supply to the Amazon.com. One of the companies that experienced a notable supply chain disaster was Apple Incorporation. Despite being a market leader in the production and selling of personal computers in 1990s, the company was faced with an issue that made it lose huge market share. In 1995,