Environmental Justice Struggles in Canada...

The Grassy Narrows (Asubpeeschoseewagong) First Nation is an Ojibwa First Nation located north of Kenora, ON. The community has been fighting against environmental injustices imposed on them from various actors over the last 40 years (Rodgers, 2009, para. 10), involving issues with mercury poisoned fish (para. 1) clear cutting of their lands (para. 27) and subsequent degradation of their land, water and food sources. This essay will detail the environmental justice struggles of the Grassy Narrows First Nation, point out the unfair treatment and environmental racism they have been subject to and will also question the role that authority, power and litigation have played within the community. The Grassy Narrows people have a long, deeply†¦show more content†¦Environmental justice links a number of social movements—anti-racism, Aboriginals rights, and the mainstream environmental movement—and addresses the problem of environmental racism (Gosine Teelucksignh, 2008, p. 11). The concept of environmental justice in the U.S was associated with the struggles over toxic waste sites and the call for equal treatment of all communities, radicalized or not (p. 9). It was about looking at human health rather than preserving areas deemed as â€Å"playgrounds for the rich.† Cole and Foster (2002) describes how many of the Native environmental justice struggles were focused around land and environmental exploitation (p. 26), both of which can be seen with the case of clear cutting in the Grassy Narrows community (Keewatin v Minister of Natural Resources, 2011), as well as with the issues surrounding the case of mercury pollution (Grassy Narrows and Islington Indian Bands Mercury Pollution Claims Settlement, 1986). This is an environmental justice issue because the Grassy Narrows people continually have to deal with environmental racism. Both of the examples mentioned above, along with the fact that they are still battling out in court their right to clean water and harvesting rights that sustains their livelihood (Keewatin v. Ontario Natural Resources, 2013) show how indigenous communities are still facing environmental racism in Canada. It is also important to point out that, unlike the US movement, Canada’s environmental justice

Poltical Timeline in Indonesia Free Essays

1803 – First phase of  Padri War * Began in 1803 prior to Dutch Intervention and lasted until 1825 * also called the  Minangkabau War * a conflict that had broken out in Minangkabau state between the so called  adat  and  padri  religious factions. The Adats were  Minangkabau  traditionalists who wanted to continue to include indigenous pre-Islamic religious practices and social traditions in local custom (Islam Abangan). The Padris, like contemporaneous jihadists in the  Sokoto Caliphate  of West Africa), were  Islamist  reformers who had made the  hajj  to Mecca and returned  inspired to bring the Qur’an and  shariah  to a position of greater influence in Sumatra. We will write a custom essay sample on Poltical Timeline in Indonesia or any similar topic only for you Order Now * The Dutch intervened from 1821 and helped the Adats defeat the Padri faction. 1806 – British and Dutch went to war 1811-1816 – Thomas Stamford Raffles is Lieutenant-Governer of Java (East India   Company officer– British) 1816 – British handed Indonesia back to the Dutch Many Indonesians resisted the return of the Dutch. However the Dutch eventually defeated them and regained control 1825 – The Java War * Happened in Central Java * led by Pangeran Diponegoro (the eldest son of the sultan of Yogyakarta) * initial cause: The Dutch wanted to build a road across Diponegoro’s property that  had a sacred tomb in it. * war ended with Dutch victory in 1830 1831 – Second Phase of Padri War * Lasted until 1838 1870-1900 – The Liberal Period 1873-1913 – The Aceh War was an armed military conflict between theSultanate of Aceh  and the  Netherlands  which was triggered by discussions between representatives of Aceh and th e U. S. inSingapore  during early 1873. The war was part of a series of conflicts in the late 19th century that consolidated Dutch rule over modern-day  Indonesia, concurrent with the  1906  and the  1908  interventions in  Bali 1879 – Kartini  was born in  Jepara, today the date is commemorated as women’s emancipation day in Indonesia. Raden Ayu   Kartini, (21 April 1879 – 17 September 1904), or sometimes known as  Raden Ajeng Kartini, was a prominent  Javanese  and an  Indonesian  national heroine. Kartini is known as a pioneer in the area of  women’s rights  for native Indonesians. 1894 – Lombok War *   The Dutch looted and destroyed the Cakranegara palace of  Mataram. [46]  J. L. A. Brandes, a Dutch philologist discovered and saved  Nagarakretagama  manuscript in Lombok royal library. 1898 – General van Heutz  becomes chief of staff of Aceh campaign and Wilhelmina  becomes queen of the Neth erlands. How to cite Poltical Timeline in Indonesia, Papers

The Mysterious Banana Essay Example

The Mysterious Banana Paper Banana Symbolism The Mysterious Banana Included in many literary works are objects, which may seem meaningless, contributing to the theme of the work. In Samuel Beckett’s â€Å"Krapp’s Last Tape†, a dramatic work which falls into the category of Theatre of the Absurd, the banana is a discreet object which eludes to the meaning behind why Krapp chose that particular event to listen to while recording his last diary tape. Sigmund Freud’s theory of wish fulfillment suggests that a banana represents repressed sexuality which can be linked to the event on the tape marked â€Å"Box Three, Spool Five†. Psychologist Sigmund Freud believed that who a person is and how he/she acts stems from the workings of their subconscious; this is known as the psychodynamic approach to psychology (Santrock and Mitterer 11). Through the psychodynamic approach, Freud developed his theory of wish fulfillment. Freud believed that the reason why people have dreams is so that their subconscious can express feelings and desires that they may not be aware they have, or are not able to act out while awake. In wish fulfillment there is manifest content which is the object that a person dreams of and latent content which is the symbolism behind the object they dream of (Santrock and Mitterer 235). The type of theatre which â€Å"Krapp’s Last Tape† is classified in is known as the Theatre of the Absurd. Theatre of the Absurd is a form of comedic drama which portrays the often meaninglessness of life. Plays of this nature usually do not display a direct plot and are usually repetitious such as every day life is (Kirszner, Mandell, and Fertile 920). We will write a custom essay sample on The Mysterious Banana specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Mysterious Banana specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Mysterious Banana specifically for you FOR ONLY $16.38 $13.9/page Hire Writer With using this form of comedic drama Samuel Beckett is able to portray the life of Krapp in a dream-like state, with a dark stage, cluttered desk, only one actor, and no direction of where the play is going. When looking at â€Å"Krapp’s Last Tape† as if it were set in a state of dreams it can be seen that an object in the play may have more meaning than what is originally thought to have. In dreams all objects and occurrences are thought to have a meaning other than what is seen at face value. It is thought that, in dreams, a banana represents the repression of sexuality. Not only does it represent the repression of sexual urges but of phallic sexuality (â€Å"Banana†). It is thought that if bananas are seen in one’s dream then â€Å"your hard work will be met with little reward and gains† (â€Å"Banana†). In â€Å"Krapp’s Last Tape† the elderly man Krapp is listening to a diary tape representing his early years. On the tape marked â€Å"Box Three, Spool Five†, a younger version of Krapp relays an event in which he finds himself on a boat with an unknown woman. While before he searches for the tape, Krapp unlocks a drawer, pulls out a banana, and eats it. Shortly after the tape starts to play the younger Krapp says â€Å"Have just eaten I regret to say three bananas and only with difficulty refrained from a fourth. Fatal things for a man with my condition† (Beckett 1370); as Krapp consumes specifically a banana before both recording the tape originally and listening to it years later suggests that the banana does have more of a meaning to him other then just nutrition. There are two meanings behind the presence of a banana in a dream: repressed sexuality and the representation of failed work. Both of these meanings can be seen in â€Å"Krapp’s Last Tape†. When the tape of spool five is played, a younger version of Krapp discloses that he has consumed several bananas before starting the recording. The recording that he makes is of a sexual encounter that had occurred at some time that year. The presence of a banana at this point in the play suggests that as he was remembering the event, before he started recording, he was trying to suppress his urges. It can be seen that he represses by covering up his emotion as while he relays the story he places a lot of emphasis on the scratches he sees on the woman’s leg and that he attributes them to her unfaithfulness. The fact that although the woman gives a viable explanation for the scratches, at the time of the recording, he refuses to believe which suggests that he is coming up with reasons to discredit her which may help him deal with how the relationship ended. The possibility that he is trying to discredit her ties into the second meaning behind why a banana is present in a dream. The banana is seen to imply that one’s hard work will be poorly rewarded. Towards the end of the play Krapp consumes yet another banana and begins to record a new tape, his last tape, to reflect on the views of a younger version of himself. Krapp had rewound the tape to listen to a younger Krapp’s interpretation of the scratches on the woman’s leg. During his new recording it is implied that Krapp may have ended the relationship to pursue a business endeavor when he says â€Å"seventeen copies sold, of which eleven at trade price to free circulating libraries beyond the seas† (Beckett 1373). This statement implies that he had tried to find success as a writer but failed. Moments later on the tape Krapp further justifies the presence of the banana. As he continues his recording he starts to wonder aloud â€Å"Could have been happy with her, up there on the Baltic, and the pines, and the dunes. (Pause). Could I? (Pause). And she? † (Beckett 1374). It is this thought that bring him to speak of a woman named Fanny who wonders how he manages ‘it’ at his age which may be interpreted by the reader that he is, to some extent, still sexually active. If that were the case, and he is not lacking the physical aspect of sex, it further implies that the banana represents the repressed sexuality from his lost love. It is at this moment, at the end of the play, which Krapp seems to have come to realize what his choices have brought him. There is a feeling of sadness as he rewinds the tape to listen to the event of the tape one last time and continues to sit after the recording has ended. The play comes full circle at the end with a saddened Krapp; an elderly man who looks back on his choices in life regretfully repressing the memories with bananas. Although â€Å"Krapp’s Last Tape† is indeed a play occurring in the awakened state of Krapp, and not a dream, Freud’s psychodynamic approach can still be applied to explain the value of the banana. Samuel Beckett’s use of the Theatre of the Absurd allows for the play to be seen in a dream-like state. While to Krapp the banana is just a piece of fruit that he feels is not good for his health, the reader is able to see, using Freud’s wish fulfillment, that the banana is a symbol of his repressed sexuality, built up from his lost love; love he gave up to try his luck in business. Works Consulted Beckett, Samuel. â€Å"Krapp’s Last Tape. † 1960. Literature: Reading, Reacting, Writing. Ed. Laurie G. Kirszner, Stephen R. Mandell, and Candace Fertile. Scarborough, ON: Nelson, 2007. This is the piece of dramatic literature which my essay is based on. It is a play by Samuel Beckett about an elderly man who looks back on his diary tapes from years ago and voices how his opinion has changed over the years Dream Moods. â€Å"Banana. † Dream Dictionary. 6 March 2007 http://dreammoods. com/cgibin/searchcsv. pl? method=exactheader=dreamsymbolsearch=banana. This website is an online dream dictionary. It allows for you to look up specific objects and also scenarios. It was very useful in my essay as it gave a best description of the symbolism behind a banana. The negative side to this website is that it is not peer-reviewed but I was unable to find anything substantial in the journals. Kehler, Dorothea. â€Å"Beckett’s Krapp’s Last Tape. † Explicator. 60:3 (2002): 159. Academic Search Premier. EBSCO. Georgian College Lib. , Barrie, ON. 9 March 2007 http://web. ebscohost. com. Kehler points of the references made in â€Å"Krapp’s Last Tape† which relate to both â€Å"Othello† and â€Å"Gooseberries†. This article gives insight to the reader as to where Samuel Beckett came up with some of the ideas for writing â€Å"Krapp’s Last Tape†. I did not use this in my research essay. Kriszner, Laurie G. , Stephen R. Mandell, and Candace Fertile. Literature: Reading, Reacting, Writing. 2nd ed. Scarborough: Nelson 2007. This is the text that â€Å"Krapp’s Last Tape† came from but also served as a reference to types of theatre. This text covers many kinds of literature such as short stories, drama, and poetry. Chapter 20, Understanding Drama, was particularly helpful as it described all of the genres of drama including the Theatre of the Absurd which was relevant to my essay. Santrock, John W. and John O. Mitterer. Psychology. 2nd ed. Toronto: McGraw-Hill Ryerson 2004. Santrock and Mitterer wrote this text as a learning tool for first year psychology students. It contains an overview on all of the fields of psychology. Chapter 1, What is Psychology? , was very helpful in explaining Freudian theory. Chapter 6, States of Consciousness, further explained Freud’s theory of wish fulfillment.

Human Resource Development Essay Example

Human Resource Development Essay Example Human Resource Development Essay Human Resource Development Essay The pressure for an Organization to get it right is the key to competitive success. Companies now look to creative compensation strategies to create a environment that employees want to work for. Using point form, write a brief description of the organization, its employees, and its challenges. What is the organizations domain? Fit stop is a new business concept developed by Susan Superset, who after a serious sports related injury, became aware of a market opportunity in the personal retail sports supply industry. Susan with her undergraduate degrees in sinology and commerce, agonized that existing sport retailers marketed a limited range of fitness equipment and employed salesperson with very limited knowledge of the equipment being sold and gave little or poor advice on what to buy and how to use it. Suntans, business plan is to operate and compete in the existing retail market domain of large retailers. The domain consists of sporting goods stores, mega store, discount and department stores all retailing some of the same equipment. Its business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. Susan wants to start off with large stores creating a visible presence in the existing marketplace, competing along side other large retailers with similar products. Her goal is to breakout large stores in Ontario and branch into four provinces, her funding does not show a profit for a term of one or two years. She wishes to compete by her organizations ability to meet and exceed the demands Of consumers in the retail sports industry by providing personalized up to date training, conditioning advise, along with the latest and largest range of fitness and exercise equipment. The key strategy of the company is to be the most up to date and advanced supplier of new products and techniques. She believes this business strategy will set her business apart from the rest of the competitors in the retail sector and by providing information, education and personalized service to customers. The employees will be knowledgeable and highly motivated. By employing a manager with a Bachelor of Commerce degree and employing a fulfillment sinology and physiotherapist, to consul clients and to train staff, she will need to hire full time sales staff with a minimum level of grade 12 education, to engage in the high level of training each staff member will require. Employees will need to process a Strong concern for their customers, be innovative in developing solutions that fit their customer needs, and be continuous learners in the fitness industry. Susan challenge includes a needs to develop a compensation system to realize her organizational goals of positioning herself in the existing similar market place. And by her ability to compete in up to date and advanced range of equipment, and to develop her key strategy of exceeding customer arrive expectations by personalized, knowledgeable, techniques, customer service to each individual customer. What should the goals be for their compensation system (that is, what does the organization want and what do they need employees to do)? (Hint: see p. 10. What two questions will have to be answered when deciding on a compensation strategy? Fit Stops goals for their compensation system is to promote the organizations growth firstly with their entrance into the existing marketplace and their plans for future growth. The compensation system must support its management structure for the achievement of those goals. The organization must attract and retain the individuals with the attributes necessary for the tasks required. The organization through its managerial system must then support and guide the desired task behaviors for each individual in the organization. The compensation system must comply with all laws in the jurisdiction it operates and be seen as equitable for members Of the organization. The organization must achieve these compensation goals in a cost effective manner. Fit Stops key strategy of competing in the market place is exceed customer expectations by providing personalized training advice, consultation, and top customer service. Suntans initial thought of compensation is to match what her competitors are doing. By matching the compensation systems of organizations, she will be operating in the same pool of applicants as her competitors. Fit Stops challenge is to align its compensation system to its organizations strategy by firstly the ability to attract and retain and secondly to promote the desired employee behaviors. Fit Stop needs to have fully engaged employees, to provide the personalized service that it provides to its customers. Their employees need to be highly motivated and knowledgeable with a strong concern for their customers. Employees must be flexible and innovative to developing solutions, and keeping up with the latest in fitness and training trends. As trends develop they must also keep up and be motivated to learn and grow and operate as a team within the organization. Fit Stop must position it self as a organization that promotes the values of the latest in fitness technology and the employees will be seen as the dominate professionals in the fitness market. What do you think the employee needs are? Separate the needs into those hat can be satisfied by extrinsic rewards and those that will be satisfied by intrinsic rewards. Fit Stop needs to develop an attractive compensation system to attract and retain the dynamic qualified individuals within a cost effective manner. Initially the company does not see its profits for a year or two. To satisfy employee needs Fit Stop needs to establish a rewards strategy that includes both extrinsic and intrinsic rewards to meet the needs of its potential employees, and the plan through which they Will be provided to present to potential employees, and to maintain the employee behaviors necessary for organizational success. Employees accepting a position with Fit Stop will first recognize the extrinsic rewards the company offers such as pay, general working conditions, coworkers and supervisory behavior. Through the compensation system the organization can present the components of base pay, performance pay, and indirect pay to match or exceed in the market place. Base pay based on time worked is fair to the employee as time is exchanged for monetary exchange. Performance pay would relate to organizational performance and advancement, and indirect pay such as dental and health benefits. To enter into the market Fit Stop must meet employee expectations of matching the existing competition market domain of compensation strategy. Intrinsic rewards such as growth and development, achievement, self esteem, that satisfy higher order human needs of employees will also factor in their decision to join the organization. This is were Fit Stop can exceed and provide high intrinsic rewards to their employees. Employees will receive many intrinsic rewards from the role they play in the company, the work they do and the same vision they share with other employees and the company. The value of information technology and advancement within the company will direct task behaviors and foster citizenship behaviors which can be valuable to organizational success. Additionally the intrinsic rewards the company offers will place the organization in the position of attracting employees more easily, as employees have a high level of prestige and public esteem. Analyze the organization and identify the key aspects of the organizational context. (Hint: input, output, resources. ) What resources are necessary for the transformational process (I. E. , human, information, physical, financial)? Fit Stop is an business organization with an objective to supply consumers with all types of training, fitness conditioning and exercise equipment. Managements role is to acquire the resources it needs to operate, combine and enact strategies to achieve the organizational goal of the company. The resources needed are human, the organizations employees, information, the technology and training needed, the physical, the retail location, and the financial, the budget the company operates with, these are the inputs in the organizational system. The resources management acquires and uses, rates the transformation and procedures used in the day to day operations Of the business, sales, training, staffing, etc to create the Outputs necessary to provide consumers with service and products. Those outputs are transformed to resource providers in the form of revenue to the organization. The purpose of the organizational structure is to generate the behaviors necessary to carry out the organizations strategy. This organization system creates the revenue to the company to achieve its goals of organizational success in the market place. Discuss each of the contextual variables and how they will influence the organization. For example, what type of environment will the company operate in? What is the nature of the people who will be employed? What type of technology will be used? What will be the size of the organization? Will the environment be stable or unstable, simple or complex, and what will that mean for the company? Managerial strategy determines the most appropriate reward strategy in an organization, so managerial strategy is determined by the contextual variables that affect the organization. These contextual variables are identified as environment, corporate strategy, technology, size Of the table environment of existing competitors, that mainly compete with price similar products . Fit stop plans to operate with a more dynamic environment that will differentiate itself by the high level of service expertise of employees and new products that are new to the market for customer needs. This will influence the organization to adapt a high involvement management structure for the entrance into new products and service and to maintain the edge over the competition. Fit Stops corporate strategy will be classified as differentiator as defined by Porter, the company strategy will depend on roving unique up to date products and service in the fitness field to a broad range Of customers. This attempt to differentiate itself will be dependent on innovation, creativity, and flexibility and are best suited to the high involvement managerial strategy. The organizational size of Fit Stop is one of continued growth and expansion in to new market locations. This market differentiation may call for different managerial strategies to accommodate a different operating environment, maybe to meet legislative requirements. The organization may choose to segment the companys operation, but will maintain the high involvement managerial strategy for the top management. The nature of the work force requires the management of Fit Stop, the store manager, the physiotherapist, seismologist will need to be well educated, highly skilled to educate motivate the sales team, and to monitor the performance of each individual in the organization. The management will high involvement as these positions will require a high level Of decision making along with the broad responsibility expected of these individuals. Technology will be mediating as in Thompson typology, the ales staff will need to connect with clients and form relationships. But also be non routine by Persons definition in that they will need to be more dynamic to offer new ideas learned from training sessions to clients. Client solutions will depend on judgments and intuition of the employee. Training learning sessions guided by management for sales staff is needed to pass on the informational technology. The sales staff and management will need to adopt high involvement strategies to be knowledgeable, committed, informed and flexible to realize the companies goals of differentiation in the racetrack. Discuss each of the six structural variables as they relate to this organization. Six structural variables are needed to generate behaviors desired by the organization. Job design is the manner in which the total tasks of the organization is divided into separate tasks. Coordination and departmental the coordination of the work of individual employees in the organization. Decision and leadership structure how the decisions are made and the structure of the process. Communication and information structure that designates the amount and kinds of information , and the control Truckee the processes in place to control employee behavior. The rewards system determines how the compensation will be directed and measured. These variables will relate to the organization as they will determine the framework of compensation and the benchmarks to deliver the compensation rewards. Fit stops job design is broad, goal setting, flexible and requires the involvement of team work, which requires the coordination of horizontal and vertical departmental of staff and management, this is also seen in communication throughout the company. The control structure s mainly self control and internal, with employee commitment fostering intrinsic rewards. Decision making and leadership is democratic and participative, employees are engaged. The reward system is highly intrinsic, rewards will be knowledge based, extrinsic rewards will be focused on group/ organization performance, knowledge based, and may involve profit sharing or stock options. Which managerial strategy will work best for this organization and why? The three different managerial strategies are classical, human relations and high involvement. Classical assumes that most employees are lazy and dislike ark but will be convinced to perform in order to satisfy their economic needs. The human relations assumes that employees dislike work but can be induced to work in order to satisfy their social needs. High involvement assumes that work an be intrinsically motivating to employees if the organization is structured properly. Fit Stop plans to enter into a established market environment with some large organizations, a key strategy is to be the most up to date and advanced supplier of new products and techniques. I believe the high involvement management strategy will work the best for the organization as this strategy makes a major effort to create jobs that are challenging and interesting and provide employees with autonomy over the planning and execution of work activity. Jobs are broader involve more elements. Training and learning new technologies are emphasized and advancement is encouraged. Employees are encouraged to contribute to the success of the organization. Citizen ship behaviors are encouraged as positive work behaviors. Fit Stop will need to attract, encourage and retain employees for future company growth. Fit Stops key strategy is provide the most potato fitness equipment and advice they will need to attract a high performance workforce, and they need to undergo a high level of training. There are two compensation strategies that the company could use. Choose one type Of corporate strategy (e. G. Defender) and one type Of competitive strategy (e. G. , focused low-cost producer) and describe why you think this is the best strategy for the organization to use. Fit Stop does have the option to develop two types of compensation strategies to be competitive in the chosen marketplace. Firstly the organization can choose to adopt the analyzer corporate strategy as it souses on explo iting new opportunities while maintaining a base of traditional products and services Fit stop, have determined that they will maintain a firm base of similar products and services, that exist presently in the marketplace. While exploiting new creative services and products to add to be more competitive. Thus fitting their key strategy to exploit new products and exceed customer service expectations. They could maintain a hybrid organization structure wherein the sales staff is managed by human relations compensation structure and a high involvement management for new reduce development. The company can maintain a base of products and services and differentiate itself enough to identify new markets. The other competitive strategy Fit Stop could adopt is the Differentiator corporate strategy in which is depends on providing unique products and set-vices to a broad range of customers.

Array as a Function Return Type and Method Parameter

Array as a Function Return Type and Method Parameter Arrays in Delphi allow us to refer to a series of variables by the same name and to use a number (an index) to tell them apart. Heres an example integer array that can hold up to 7 (integer) values. Note: this is a fixed-size static Delphi array declaration. Arrays as Function Return Types In Delphi, functions are routines that return a value. When you want a function to return an array type variable, you might be tempted to use the next declaration: When you try to compile this code, youll get the next compile-time error: [Pascal Error] E2029 Identifier expected but ARRAY found. Obviously, when you declare functions that will return array value, you cannot include index type specifiers return declaration. In order to allow a function to return an array value, you first need to create a custom array type, then use it as a return function type: Arrays as Method/Routine Properties Similar to using arrays as function return types, when you declare routines that take array parameters, you cannot include index type specifiers in the parameter declarations.

Value. Bankruptcy. Investment Price Essay Example | Topics and Well Written Essays - 1000 words

Value. Bankruptcy. Investment Price - Essay Example On the other hand, the US system is supposed to be more debtor-friendly, where the courts play a significant role in the restructuring of the distressed company (Bourguignon & Pleskovic, 2007). In the US, bankruptcy is managed under the Bankruptcy Code, formed by the Bankruptcy Reform Act of 1978. Under this Act, a company could be restructured and reorganized or else liquidated. A financially distressed company can get protection from the creditors under the Chapter 11 of the Bankruptcy Code. The company can then attempt to rise above its financial hardships and also sort out the payments to its various creditors. Conversely, if the company files under Chapter 7 of the Bankruptcy Code, the assets of the company are liquidated and the proceeds are allocated to the creditors. The major trade-off in the bankruptcy act is between providing protection to a distressed company and ensuring bondholders with adequate security to extend credit. Providing protection to the financially distress ed company from its creditors and helping them to start afresh is an important driver of private enterprises. Many entrepreneurs would not take up the risk of forming a business if they had a possibility of facing unrestricted liability. However, the partial liability cancellations and bailouts of the bankrupt companies hurt the interest of the bondholders because they receive only a fraction of the value actually owed. Many a times, the liquidation of the company’s assets also does not help the creditors to acquire the total amount they owed to the company. This consequently makes the creditors more risk averse and the restructured company finds it difficult to locate investment post its bankruptcy. Therefore, regardless of liquidation, reconciliation of liability claims or Chapter 11, the lenders do not get back what they originally owed to the company (Damodaran, 2005). Answer 2 A company is said to be bankrupt when it is not capable of fulfilling its contractual liabiliti es. The assets of such a company are generally liquidated and the earnings from the liquidation process are utilized to meet the overdue claims. The cost involved in the process of going bankrupt is obscure and hence difficult to quantify. The legal expenditures involved are known as the direct cost of bankruptcy. These costs occur in the form of cash outflows at the moment of bankruptcy of the company. Therefore, the direct costs of bankruptcy consist of legal as well as administrative expenditures and also the interest payments for the payment of the overdue cash flows. However, the major part of the bankruptcy cost takes place prior to the company’s bankruptcy declaration. The direct costs of bankruptcy of large companies are considerably small considered to their indirect costs of bankruptcy. When the suppliers, the buyers, the consumers and also the

Arab News Essay Example | Topics and Well Written Essays - 1500 words

Arab News - Essay Example "Traditional rule in the emirates generally has been patriarchal, with political allegiance defined in terms of loyalty to the tribal leaders. Political leaders in the emirates are not elected, but citizens may express their concerns directly to their leaders via traditional mechanisms, such as the open majlis, or council" (Country Reports on Human Rights Practices, 2001).According to the Constitution, Federal Supreme Council consists of the seven emirate leaders, which means, all regions have approximately equal access to legislative process. The Council elects President and Vice President directly among its members, and President is entitled to select Cabinet and Prime Minister. In spite of the well-known fact that emirate leaders normally meet in informal settings, the Constitution obliges them to assemble annually and determine legislation, country budget and further social policy. The Cabinet controls and manages the Federation on a daily basis, and the Federal National Council, the major advisory body, constitute a link between the Council and the Cabinet, as FNC officials are expected to provide consulting services to emirate leaders and make queries to the Cabinet, even though FNC has no legislative rights. Every region maintains control over its oil and mineral resources, local economic issues, inter-emirate trade and some aspects of local and regional security. The central Government declares dominance in terms of international affairs, defense strategies, and progressively more in terms of law and the provision of certain government services to population (bbc.co.uk, 2006). Judicial branch in UAE is mostly independent, but the court system is subordinated and in some sense managed by the federal Government, in particular, international cases and all events and crimes, associated with terrorism. Policing in United Arab Emirates is comparatively independent, since each region has its own internal police force, but they all are accountable to hierarchically vertically higher structures. The federation supports the establishment of free commerce and has market economy, basically maintained by oil and natural gas trade as well as light industry, like textiles and garments manufacturing. Abu Dhabi, the largest emirate is economic and political center, as the majority of petrol production businesses are situated in this region. The Emirate of Dubai is likewise an oil producer, as well as a growing financial and commercial center in the Gulf. "The remaining five emirates have negligible petroleum or other resources and therefore depend in varying degrees on federal government subsidies, particularly for basic services such as health care, electricity, water, and education. The economy provides citizens with a high per capita income, but it is heavily dependent on foreign workers, who constitute at least 80 percent of the general population" (Country Reports on Human Rights Practices, 2001). Human rights in UAE are respected, but in fact not realized completely. For instance, there are some biases at governmental level, which support patriarchate and male domination, and correspondingly, there are almost no business or educational newspapers, intended for women. Furthermore, the Government rejects the citizens' right to change or elect authorities, and the press and television still omit or avoid direct criticism of authorities, as the most popular and available newspapers are government-oriented