Salem Witch Trials Coursework Example | Topics and Well Written Essays - 250 words

Salem Witch Trials - Coursework Example ended rights, the jail conditions of accused were but harsh, with the accused witches often tied for months inside cold flooded, foul smelling cells; in effect, forcing many innocent prisoners to accepted their punishment for offences they knew little about.2 Those who attempted to escape would immediately be executed when caught. The examinations for evidence were humiliating at best, for the accused were often stripped naked and tortured even more to confess. The accusers were but a section of the puritans with strong beliefs in the existence of demonic sprits and the associated control over every bad thing in life; and was the case when their children begun behaving contrary to their doctrinal beliefs, leading to the Salem witchcraft accusations. The accused witches were taken before appointed magistrates, literally questioned, with their accusers appearing in the courtrooms in a grand display of name calling screams and writhing of the supposed demonic spirit possessed young girls, which to the disbelief of many, were the complete evidence in the trials. Belief in the dangers of supernatural powers had long been cultivated by the community, and that the challenges such as the after effects of the wars, smallpox epidemic, among other conflicts as well the soaring crime rates only cemented the simmering tensions and

Investigating Financial Control Essay Example for Free

Investigating Financial Control Essay Task one The three different types of costs are fixed cost, variable cost and total cost. For all of the diverse types of costs there are also dissimilar calculations to work out each type of revenue. Fixed cost does not change no matter how much they produce, even if the business produces 1 or 1,000,000,000 it will always stay the same. Examples of fixed costs are rent, salaries, rates and loan payments. Variable cost change with the level of production. In order to work out the total variable cost you have to times together the quantity and the variable cost. Also, to determine the total cost you have to add the fixed cost and the variable cost. The meaning of Start up cost is the money you need to start up the business. Running cost always varies because of the level of stock changes and you have to pay for workers. In the case of Kiren and Zaiba, salaries are used as a fixed cost because they don’t change with the level of output. Heating and lighting are used as a variable cost because the variable cost change with the level of production. The sum: Fixed cost + variable cost = total cost which is 6,000 in the scenario. The definitions for the following words are: Profit What is left when all costs incurred in making and selling a product are deducted from the revenue gained from that sale. It acts as the reward to the entrepreneur, usually the owner of the business, who has provided the capital. It is usually the net profit after tax which represents the surplus for the owners of the business and is paid as a dividend to shareholders. Profit maximization is seen as one of the major objectives of a business, although it is more likely to be an objective for the investors in a business, than for its managers or employees. It might be for those groups that profit acts as a constraint, while higher sales orhigher wages and salaries are more important objectives Net profit: This is the amount of sales revenue that a business earns less all the costs involved in achieving that revenue, including both direct costs and expenses. The net profit figure represents the figure for profit before taxation or a dividend are further deducted, and shows how successful a business has been in generating profits from its trading activities. Gross profit The figure obtained on the profit and loss account when the cost of goods sold is deducted from the sales revenue of a business, but it does not take into account any of the expenses of running a business such as wages, distribution costs or administration costs. Fixed cost Variable cost Total cost Rent  £800 Heating and lighting  £200 Salaries  £1400 Advertising  £50 Insurance  £210 Administration  £50 Rates  £150 400 CD’s  £2800 Loan repayments  £290 Telephone  £50  £2850  £3150  £6000 Task 2 Kiran Zaiba analysis: In task two I used excel to work out the break even point, at diverse costs. The fixed costs were the same because I only have done break even for one month. The quantity is going up in one hundreds. I calculated the variable cost by multiplying the quantity by 6 which came out to be going up in six hundreds. I calculated the total cost by adding the fixed cost by the variable cost; in this case it was increasing by six hundred. To calculate the sales revenue, I had to multiple the quantities by 12, which was increasing by 1200. To calculate profit or loss, I subtract sales revenue from total cost. According to the information on my table Kiran zaiba have to sell 1000 CD’s to break even. Break even is when the cost is 6000 and the quantity is 6. In the following table I have changed the fixed cost to 6950 because the following values increased: the rate increased to  £300 also, the telephone increased to  £100, advertising to  £125 and the lighting and heating increased to  £425. Using the contributing method I will calculate the following data to achieve how much CD’s will be needed to break even. In order to do this I will have to use the following equation 6950 divided by 6. The sum equals 1158. So they will have to sell 1158 to break even. This means that they will have to increase sales. Advantages of break even analysis Disadvantages of break even analysis Break even can be used to predict profit It price suddenly changed it wouldn’t take it in Break even can be used to determine financial needs For example, If petrol prices go up the break even will not show the increase. Keep track of profits and losses. It is a forecast which means that the data is predicted. Gives you ideas for selling prices (if you made a lot of money at that period of time). It helps to calculate profits Helps to make decisions on prices I think that break even is very useful because: It assists you to figure out your profit Helps you by giving you assumptions of prices It is extremely significant in that if you are taking into consideration to applying for a loan. Gives you a clear impression of prices TASK 3 Analysis for cash flow forecast I will now construct the cash flow forecast I have now prepared an annual cash flow forecast using monthly data I have also included the loan in January. The table looks like this for a regular cash flow forecast: image00.png The sales become irregular due to an immense amplify in downloading and sharing music. The irregular cash flow forecast should look like this: image01.png Cash flow forecast is extremely significant and has many uses. For example, it helps the bank manager to keep up to date; it helps managers to plan ahead and it also determines if there is a problem with the cash flow by resolving the difficulty. Regular cash flow shows: That there is not a problem with the cash flow because the opening bank balance is always increasing, so the profit is rising. The main objective for a cash flow forecast is to see whether there is a profit or loss. Currently, I have identified that with the regular cash flow there is not a problem because all the numbers are increasing, meaning that a profit has been achieved. Irregular cash flow forecast shows that: The opening bank balance starts with zero; it then rises immensely in February to 11300. Then it starts to decrease steeply all the way to December, leaving the opening bank balance drawn to a close with -37470. This is bad for the business because now they are not making a profit The total cash inflows, starts of with 18000 in January. Then it starts to reduce in each and every month, until it comes to December where it increases to 2700 from November. This is consequently leading them to a loss. The total cash outflows contrast from low to high in that, in January it is 6700 and then increases enormously to 9500 in December. The Implication of the problem is that there is an increase in people who tend to download and share music. This will inevitably affect their sales. This will also consequently make Kiran and Zaiba fall to lose a profit. Because of this problem Kiran and Zaiba are making a loss of  £43,920. The implication to the problem is that, In order to reject the lost, I recommend that The other way around this is to increase the number of quantities, in order to sell more and increase profit. Or, lower maintenance costs and launching a download website so you can attract costumers worldwide. Task 4 The documents which Kiran and Zaiba will need to sequence sales and purchasing from order to receipt of goods are: Issues by the purchaserIssued by the seller Delivery note- accompanies the goods. Is signed by purchaser as proof of delivery. Sales invoice- gives full details of goods, prices, discounts, VAT Credit note- issued if goods are returned or to adjust any over- charges on the invoice. Statement of account- summarises all transactions and states balance owning. Remittance advice – summarises the account for return with cheque payment Cash receipt- issued to confirm cash payment has been received Purchase order- lists items required and price for each. Goods received note- lists items received. Purchaser tells seller if any shortages or damage Cheque or electronic transfer- to pay balance on statement I am now going to describe the manual and electronic ways of recording financial transaction that Kiran and Zaiba could use: Predominantly, most Kiran and Zaiba’s transactions are mostly recorded electronically because they are developed either by an electronic cash register or by computer. The advantage of recording transaction for Kiran and Zaiba indicate that any linked documents are printed mechanically. Kiran and Zaiba may want to take the alternative route by considering keeping manual records which are then kept by businesses that would not find it valuable to buy a cash register or use a computer system. Even people who receive payments in a customer’s home- such as service engineers- are now more likely to record the transaction on a laptop than carry a receipt book with them. Kiran and Zaiba want and need to prevent fraud because they are a minute business. To terminate these frauds they will have to have: A thoughtful staff selection which are trustworthy to procedure which includes character references. A â€Å"whistle- blowing† scheme where workers are compensated for reporting fraud. The system should guarantee that information is treated confidentially. An unambiguous policy on dealing with fraud. Scam is usually considered to be â€Å"gross misconduct† (which means disgusting bad behaviour) for which workers can be fired instantaneously as part of the disciplinary procedure. Task 5 The strengths of a cash flow forecast are that: It helps the bank manger to keep up to date It records how much money you have It gives you ideas to plan ahead Demonstrates how much money you have at the present time The forecasts of sales and cash flow, and hence crucial abundance of profit, will be vital on which the prospective bankers will assess the upcoming feasibility of the business. It follows that these forecasts will come under crucial inspection and significant judgement. The importance of cash inflows is so you distinguish how much value of money is going towards the inside of a businesses bank account at a particular time. An example for this could be: the income Kiran and Zaiba make for selling CD’s. The strengths of break even are: It helps you see where you have an increase or decrease in your profit. Keeps you informed Break even engrosses discovering what would occur if there were changes to cost of revenues. The types of questions the boss would ask are: Is it possible for Kiran and Zaiba to increase sales by 5% and still make a profit even if sales fall? If by reducing sales by 10% will this effect Kiran and Zaiba? Say if Kiran and Zaiba shift of to an inexpensive property, how would this affect our profits? There is many different ways in which, to record this information. For instance, Manual recording principally used by businesses that, tend not sense that it is advisable to buy a cash register or computer. (For example, If Kiran and Zaiba don’t sell as much CD’s then, they may find it simpler to record these manually). Also, there is an alternative route which is, to record by electronically, which means that associated documents are printed mechanically. This could be beneficial if Kiran and Zaiba are selling lots of CD’s. Cash flow indicates the amount of money received and spent over time. This is significant in that, you will then be aware of how much income is in the bank. If Kiran and Zaiba have an enormous demand they can amplify there sales because there are not adequate CD’s. They could charge more which is better for the business because they are making more profit. But if there is too much CD’s then they could reduce prices to sell more, thus allowing them to make profits. Just to add, the main objective for any business is to make a profit. So, Kiran and Zaiba will want to do so. To do this, Kiran and Zaiba may want to take this into consideration that they may want to reduce their sales in order to sell more and to attract more costumers.

What Is Strategic Spatial Planning Environmental Sciences Essay

What Is Strategic Spatial Planning Environmental Sciences Essay Introduction Strategic spatial planning is arguably an approach which rails against the discourse of the scientific rational comprehensive models of planning which has and still does hold a large influence in current modes of planning. This short essay will hopefully explain to planners why a strategic spatial planning approach is more conducive in the current context which we find ourselves in. This will be done through answering a set of questions which will clarify the approach, its purpose and methods, how it differs from rational comprehensive approaches of master planning and land use planning, why planners should use it, what can be expected from it, and its usefulness. What is Strategic Spatial Planning? Strategic spatial planning is a method to help solve complex spatial problems through creating strategic visions and new spatial identities. According to Kaufman and Jacobs (in Albrechts, 2001) strategic systems originated in the US around the 1950s due to the need for rapidly changing and growing corporations to plan effectively and manage their futures at a time when the future seemed unclear. In Europe, strategic spatial planning dated back to the 1920s and 30s, and was used to direct the activities of others (Mastop in Albrechts, 2001). From Albrechts (2006) it can be understood that the word spatial brings into focus the where of things, the creation and management of special places and sites as well as the interrelations between different activities in an area, and significant intersections and nodes within an area. This spatial focus allows for a more effective way of integrating different agendas such as, economic, social, and cultural and their spatial impacts (Albrechts, 2006). The word strategy has its roots within a military context; in ancient battle armies would work out a strategy prior to the battle on how best to overcome the enemy. It is understood that this type of strategy had four basic elements an accurate understanding of the real situation, realistic goals, focused resources in areas where they would be most effective, and persistence of the action until the desired outcome is achieved (Albrechts, 2010). These elements are strongly rooted in systems of strategic spatial planning. In its entirety, strategic spatial planning is a process which is directed at a limited number of strategic key issue areas. It determines an areas strengths and weaknesses in the context of its opportunities and threats; it scans external trends, and the resources that are available. It gathers major public and private stakeholders and allows for a broad and diverse process of involvement. It develops a realistic long-term vision along with strategies in order to manage and influence spatial change. Importantly it is orientated towards decisions, actions, results, and implementation, in the short, medium and long-term (Albrechts, 2001). It is indeed impossible to understand material places and social nodes such as the city, the city-region and the region in terms of a one-dimensional hierarchy of scales (Albrechts, 2010:6). This definition illustrates that strategic spatial planning is not a single concept or procedure, but it is a set of concepts, procedures and tools that are tailored carefully to whatever situation is presented (Albrecht, 2001). Moreover it is a development-led approach and a transformative and integrative, public sector-led, and socio-spatial process through which a vision, coherent actions and means for implementation are produced; these are then able to shape and frame what a place is and its potential of what it may become (Albrechts, 2006) How does it differ from MASTER PLANNING and LAND USE PLANNING? In order to understand the difference one needs to understand the rationale of land use planning and master planning. Land use planning is a process of planning which is concerned with the location, intensity, form, amount, and harmonization of land development required for a variety of spatial uses; such as housing, industry, recreation, transport, education, and agriculture. A land use plan in this instance basically embodies a proposal as to how land should be used within a set of considered policy as expansion and restructuring progress in the future (Albrechts, 2004). Traditional land use planning is a more passive planning approach aimed at controlling land use through a zoning system and through regulations. This according to Albrechts (2006) seems unfit for bridging the gap between plan-making, political decision-making and implementation. This was one of the reasons why the need arose for a different type of planning a move away from regulatory policy and instruments to a development-led approach which aims to intervene more directly, coherently and selectively in social reality and development strategic spatial planning (Albrechts, 2006). For Albrechts (2001) strategic spatial planning is to a certain extent rendered towards an integrated socio-economic course of action that supersedes the mere focus on land use planning. For Master Planning on the other hand, Friedman (2007) found that it is almost a universally accepted form of planning practice. His survey found that in country after country, cities through their governments are mandated to produce master plans. Essentially within these master plans countries specify future land uses and location decisions. Master planning is a completely static practice and according to Friedman (2007) it needs to be rethought as it is out of line with the dynamic flows of globalisation. Friedman (2007) defines master planning as being typically municipal plans rather than regional plans, and as being exclusively concerned with land use rather than with the total spectrum of urban policy issues. They are drawn up by a specialized branch of municipal government rather than through a wider process of collaborative deliberation, and the process used to draw up master plans and getting them approved takes years thus rendering them out-dated by the time they can be implemented. Also they are top-down, with relatively minimum citizen participation, and lastly when it comes to large scale projects; master plans are often set aside to allow for necessary changes in land use and circulation patterns (Friedman, 2007). Opposing this, spatial planning is derived not from an official, mandatory character like master planning but from a role that coordinates instruments closely intertwined with urban policy formation and the design and implementation of large-scale projects. Spatial planning involves a range of actors that include communities, government officials and private stakeholders. The main purpose of spatial planning is not to mandate particular land uses as is in the instance of master planning but to allow for a better coordination of urban policies and large-scale project developments across space, to test alternative policies and designs through revising their social implications, and to allow for an informed public discourse about them (Friedman, 2007). In cities such as the new downtown peninsula of Vancouver, master planning has been abandoned for systems of spatial planning in which planning proceeds by way of involving public hearings, bargaining, and negotiations. The results of this transition over a period of 25 years are testimony to the viability not only of the Vancouver model but also of the more abstract spatial planning model (Friedman, 2007). What are its main PURPOSES and METHODS? Strategic spatial planning as mentioned earlier is used for complex problems where authorities at different levels and different sectors and private actors are mutually dependant (Albrecht, 2001). The model designs plan-making structures and develops content, images and decision frameworks which can influence and manage spatial change. It is about constructing new ideas and processes that can carry these structures through, thus generating ways of understanding, ways of consensus, and ways of organising and mobilizing for the purpose of exerting influence in different arenas (Albrecht, 2006). Both is the short and long term, strategic spatial planning focuses on framing decisions, actions, projects, results and implementation, and incorporates monitoring, feedback, adjustment and revision of the outcome. Its purpose therefore is not a new ideology preaching a new world order but as a method for creating and steering a better future for a place based on shared values (Albrechts, 2006). Albrechts (2006) goes further on to explain that the seven main aims of a strategic project are to develop an integrated innovative approach for the various project types; to develop a fully operational framework based on sustainability; to develop tools for quality management; to broaden the multi-actor/multi-level policy settings and to evaluate current settings; to disseminate the approach; to develop an educational model; and to establish a network of knowledge between researchers, professionals, and governments (Albrechts, 2006). The capacity for these projects to deliver the desired outcome is dependant firstly on the system itself and on the conditions underlying it such as structural constraints, and political, cultural, and professional attitudes towards spatial planning. The planning process is not intended to flow smoothly from one phase to the next. It is a dynamic and creative process wherein new views and facts that arise today may alter the decisions made yesterday (Albrechts, 2010). This illustrates that it is never a fixed process but is in a continuous start of change from beginning to end. The visions and frames which guide this process are never a given, rather they are to be constructed. The process of envisioning is the process by which groups develop visions of future states for themselves, their organisations, city, or their region that are clear, powerful and realistic. Essentially this means that the visions are to be constructed within a specific context and scale regarding issues that are of interest within that space and within a particular combination of actors. This is to be done within a method that fully recognises the conditions of power, inequality, and diversity. The vision describes a city or region as it may look like in the future, and it must appeal to the long-term interests of actors who have a stake in the city or region (Albrechts, 2010:8). Why do this kind of planning? Strategic spatial planning projects conduct an in-depth study of the area, thus giving preference to the location being affected over anything else. With this these projects study external trends and the resources available therefore allowing for a broad and diverse process. Also, by making use of this type of planning, planners are able to target a variety of areas; including urban, rural, and economic areas (Albrechts, 2006). In the instance of urban areas, strategic urban projects are useful as they aim to consolidate, transform, restructure or reuse the urban areas for new and emerging demands from public and private actors. With regards to rural areas, strategic projects are useful as they aim to transform rural and suburban dynamics into a more sustainable and qualitative form of development while not forgetting to enhance the cultural meaning of these spaces. Lastly, economic areas are seen as an important part of the effort to keep up international economic competitiveness. Strategic projects seek to turn away from the old concept of business parks spatial concept and management to a focus on the requirements of firms that are to be translated into specifically designed employment locations (Albrechts, 2006). And what can we expect from it? This question can be divided into two parts; we as planners and we as the public and private actors. First, the essay will intend to the address the latter part. Strategic spatial planning projects are strategic to achieve visions, goals, and objectives from a variety of policy sectors, and are to integrate the community being affected. Visions is arguably one of the most important factors of strategic projects as they are expected to be placed within the specific context, place, time and level, and are to regard specific issues that are of interest to the different actors (Albrechts, 2006). Essentially what can be expected from strategic spatial planning projects is a critical analysis of the main processes and structural constraints which shape spaces, which adds into a realistic, dynamic, integrated, and indicative long-term vision. It will provide a plan for short-term and long-term actions, a budget, and a flexible strategy for implementation (Albrechts, 2010). In terms of the projects eventual implementation, it will provide credible commitments to action engagement and a clear and explicit link to the budget thus allowing for citizens, private-sector, different levels of governance, and planners to enter a consensus (Albrechts, 2010). We as planners will expect a different set of tools, tools which will guide the planner on what to expect when acting as a strategic spatial planner. For Albrechts (2010), he finds it unthinkable that the planner should act merely as a neutral observer and refrain from playing a role in the construction of visions and images. Instead, Albrechts suggests that planners should be necessarily involved, and instrumental in substantiating, formulating and implementing images and visions. This is a logical perspective, as if planners merely observe, there expertise in certain situations are not shared, and their usefulness would be greatly undermined. Strategic spatial planners are to instead, challenge their own mental discourse which limit their creativity, and start anew thus allowing for their creativity and resourcefulness to flow and to be used in formulating, designing, and building new concepts and discourses (Albrechts, 2010). How useful is it? Strategic spatial planning is a flexible process that deals with complex problems and is able to mend to a wide range of problems, but also deals with each problem uniquely. This characteristic makes the approach very useful as it applies to a range of different issues. For example; the city of Barcelona started using a strategic planning approach in 1988 in order to enhance the cooperation between the public and private sector with the hope that the enhancement will strengthen the position of the city as a candidate for the Olympic Games (Albrechts, 2010). The city of Turin which was inspired by Barcelona also undertook a strategic approach in the mid 1990s, for Turin this formed the basis for rethinking the potential of a former monopolistic town that had been highly affected by the rise of the automobile industry. The aim for Strategic spatial planning here was to transform Turin into a European metropolis a city of activities and know-how (Albrechts, 2010:5). For the city of Bilbao, the vision was to transport the city into the economic, financial, and cultural capital of the Atlantic Arc. Lastly, for Prague, strategic spatial planning focused on integrating the city into European structures (Albrechts, 2010). From this it is clear that strategic spatial planning is applicable to a diverse range of issues and can adapt easily to what is required in the context for which it is envisioning, thus rendering it a useful approach to planning. Conclusion From the information discussed in this essay the approach of strategic spatial planning has been explained. Through using such an approach to planning it can be deduced that spaces can be become more active and interactive both on a local scale and the sectors within that scale and on an international scale. In short, episodes of strategic spatial planning informed by relational complexity concepts which accumulate sufficient power to travel effectively and have enduring material and mental effects should be judged in the long-term in terms of their capacity to enrich the imaginative resources, creative energies and governance cultures through which quality of life and experience of diverse citizens and stakeholders in particular places are likely to be enhanced. (Healey, 2006:19)

Dishonor in Antigone and Chronicle of a Death Foretold Essay -- Greek

The belief and concept of dishonor in the Greek and Colombian culture of ‘Antigone,’ by Sophocles, and ‘Chronicle of a Death Foretold,’ by Gabriel Garcia Marquez, is a deciding aspect that blinds characters moral values. It is evident that in both societies Greek and Colombian, a family or an individual without honor is an outcast to the community. As honor plays a drastic role in outlining the culture of the society. Therefore the belief that a perpetrator has brought dishonor upon the family, or community foreshadows punishment for the individual, often conveyed through death. Sophocles provides a setting in his play, Antigone, where the honor code of rules and principles that govern the Greek community, are based upon Creon’s patriarchy of immoral natural law. Where the worst death is a ‘clouded’ (97) one whose foggy setting brings dishonor upon the individual, and his family. Polynecies is an example; Sophocles uses to highlight the significance of a burial, in the Greek society. Polynecies is a victim of Creon's code of honor, which through grotesque diction, Sophocles describes his body as being immorally exposed the â€Å"vultures† left â€Å"unwept and unburied’ (29) after miserably fighting turning against his brother in a battle for Thebes, in which he turned against him. Causing him to ’[die] outside the law’ (59) bringing great dishonor to the corpse as it is with a lack of respect, left unburied due to tyranny, but also damns it for all time and dishonors his family. Creon’s laws are flaw, harsh and immoral, they take on the ‘gods who live forever’ (788), up to the point were his actions ‘seize [his] good mind,’ (791) and deprive him of moral thought. Creon’s restrictive democracy motivates Polynecie’s sister Antigone, who... ...reshadow a death through the blinding process of moral values and actions taken by an individual that has, or whose family has been dishonored and wishes to regain their dignity. Sophocles in Antigone portrays the theme of dishonor through the cultural value of burial in the Greek society; Gabriel Garcia Marquez on the other hand, condemns the legate of marriage to honor in Chronicle of a Death Foretold. Both cultural norms manage in context to inflict with the character’s family honor, which leads them into taking immoral and ruthless actions that lead to the innocent death of Antigone and Santiago Nasser, both innocent individuals. Works Cited Garcà ­a, Mà ¡rquez Gabriel, and Gregory Rabassa. Chronicle of a Death Foretold: A Novel. New York: Vintage International, 2003. Print Sophocles, and Paul Woodruff. Antigone. Indianapolis: Hackett Pub., 2001. Print

Opera †Carmen Essay

   This was an amazing Opera, I only wish that I had the opportunity to see it in person. I have never watched anything like it, and probably would not have had it not been part of this class. Let me say Thank you for opening my eyes to this amazing experience. The theatrical performance, choreography and music were very moving and to my surprise drew me in to continue watching and trying to interpret. I have to say I was very shocked at the sexuality used in this performance, it seemed as thought it was wrote long before its time. Carmen’s sexuality was very much a large part of the performance and I found it intriguing. I decided to rent the movie Carmen to compare the performances and found them to be very similar in character however the Opera was much more captivating. The music alone is wonderful but when added to the stage performance it was absolutely mesmerizing. Carmen is a direct conflict of the expectations for women of this time period. Women were to be gentle, biddable and sinned against. However Carmen used her beauty and sexuality to her advantage. She perfectly combined her acting, singing, and dancing abilities to portray a seductive and enticing personality that even Don Jose’ could not resist. The musical transitions for each character and scene were for me the amateur at times overwhelming and difficult to take it all in. As the music and people become loud during the bullfight in the background you can hear Carmen and Don Jose’ characters in the music. In the beginning of the Opera Don Jose’ appears to be very strong and powerful with an ability to ignore Carmen. Again the music helps portray this image. Obviously he changes throughout the performance to become ravaged with lust and jealousy towards Carmen. You can hear in his voice his defeat and it leaves you to believe that although he will no longer be jealous he also will mourn Carmen forever. Although the orchestra was not shown often it appeared that it consisted primarily of men, which I found rather interesting. The sets were also incredible which made me wonder how the original sets were designed. This Opera appears to have been a monumental changes in the French Opera it is a shame that Bizet, due to his early death, was unable to realize his impact not only of his time but still today 100 years later.

Human Rights or Technology? Essay

In today’s highly technological world everyone wants the latest and greatest gizmo on the market. Companies like Apple, want to make as much money as possible. With both Apple and society being held responsible for the outrageous working conditions in the factories in China workers can be treated more like people. In the article â€Å"In China, Human Costs are Built into an iPad,† Charles Duhigg and David Barboza argue that Apple and society are responsible for the repugnant conditions in China. In this article, the authors use facts, personal experience and a story about a worker from one of Apple’s factories, making the article more interesting and personal to the reader. Giving personal background brings you into the story. The article not only discusses the working conditions, but also discusses the living conditions. Without giving specific examples, Apple and society need to take a closer look and be held responsible for the horrendous conditions in China. In an essay written by Namit Arora, he discusses his own experience about his socioeconomic status. Arora writes that maybe it was not due to his hard work, but that he was in the right place at the right time. Arora describes different types of economic justice and makes the reader think about what we deserve. Do you deserve to have everything handed to you because you come from a rich family or should your hard and diligent work give you that reward; this is the very topic of Arora’s essay. The connection between the article written by Duhigg and Barboza with that of Arora is that of basic rights as a human being. If the rich are made richer in turn makes the poor become poorer. No matter what we do there really will never be a truly fair or just way to distribute an economy. There will always be those that fell their not being treated fairly even if everything is spoon fed to them, there just needs to be more balance to our current systems. Arora’s essay talks about those that are born with natural abilities from a moral standpoint is the same as those that have silver spoons in their mouths. Arora also discusses the â€Å"Difference Principle† which deals with this natural lottery. First off, Duhigg and Barboza discuss what we as consumers want. â€Å"Customers want amazing new electronics delivered every year.† (Duhigg and Barboza) This means the customers don’t care about how the products are made or who is hurt during the manufacturing process. During the course of the interviews Duhigg and Barboza conducted, a former worker told them that Apple did not care about anything except making more products and lowering costs to make those items. People who buy these products are blinded by the technology bug. If consumers did not want the latest and greatest phones or other electronic devices, there would not be as high of a need to for Apple to find the cheapest suppliers. Working conditions are not the only issues for the workers in these factories. The living conditions in China are horrific-there are more people living in their apartments then is safe by any standard. There were numerous people committing suicide due to the conditions at the factories. Apple is one of the most sought after brands. So if Apple were to make some changes it could make significant strides at reducing the working and living issues in China. If society were to inquire about how the workers are being treated this could also lead to changes being made in favor of the employees. Apple would be more likely to actually take action correct these substandard conditions, since no company wants their dirty laundry to be aired outside the company. Second, as discussed by Duhigg and Barboza, Apple is trying to make things better, but people would still be disgusted with what was seen. Duhigg and Barboza write that these devices are produced in substandard labor conditions, which is according to workers, worker advocates and reports published by companies themselves. There are underage workers and in many cases earn little to no money at all. In today’s society we need to take a round turn and prevent these children and other workers not get used and abused. Although Apple says it is trying to make things better there has been former workers say â€Å"finding new suppliers is time-consuming and costly,† Duhigg and Barboza report. Since Apple is an American based company the standards of the United States should be imposed on not just Apple, but any company that try to exploit these lower standards of other countries. As with society, we need to stop thinking of the things we want, but how and who is affected by making these products. If a company knows about issues but does nothing to correct those issues before someone were to get hurt they are just as responsible if not more responsible because something could have been done to prevent those injuries. â€Å"Apple had been alerted to hazardous conditions inside the Chengdu plan.† (Duhigg and Barboza) This shows that Apple is aware of conditions at their supplier but are taking no actions because as long as Apple gets its products the injuries of workers are none of their concern. Apple workers need to not only have better working conditions but also have better living conditions. This is not due to the fact that Apple has the money to pay their workers more; it’s actually due to the fact that the workers are human beings and should be compensated better. As well as having living conditions that are safer and healthier. The opportunity costs in China are significantly lower in China. The workers in China are willing to earn pennies on the dollar. From Apple’s standpoint it just makes sense to have their factory in China, instead of the United States. Apple has become one of the largest companies in their field due to these countries with lower standards. Even though Apple may make it seem like these conditions are not approved of, they would not be the electronic power house they are today. Arora discusses people may lack opportunity due to their lower or social economic status. In China the lack of opportunity does not play as much as it does in the U.S., since a company in China hires workers of almost any age. The downfall for those workers is getting treated as less than a human being as more like part of a machine. This is just morally wrong, for Apple to just turn a blind eye to these conditions. If Apple really cared these conditions could be better. The conditions may not be up to the standards of the U.S. but these people could actually be treated like a person. Due to the lower economy of China and the low opportunity cost, these two go hand-in-hand. Apple is taking all the risk and should be compensated for their risks. Even if we try to uphold higher standards there really is not much which can be done. No matter how much we try there will always be a country that has lower standards and cheaper workers; companies will just go to those places which makes profits the highest. To conclude, society as a whole needs to change our mind set from not caring how we get our products towards caring about how the products we buy are produced. As far as Apple goes, Apple needs to be held responsible not only for how the products are produced, but also how the workers making their products are being treated. Works Cited Arora, Namit â€Å"What Do We Deserve?† Emerging Contemporary Readings for Writers Composition Subjects Ed. Barclay Barrios. Bedford/St. Martins, 2010, 87-91. Book. Duhigg, Charles, and Barboza, David â€Å"In China, Human Costs are Built Into an iPad† The New York Times, 25 Jan. 2012. Editorial.

The Refraction of Light Lab Essays

The Refraction of Light Lab Essays The Refraction of Light Lab Paper The Refraction of Light Lab Paper The results we obtained show that on average, we calculated a sin i over sin R to be 1.34 units. Also we can say that as the angle of incidence increased, the angle of refraction tended to increase proportionally. As the sin of i increased, the sin of R also increased. Below you can see the exact relationship between the sin of the incidence angle (i) versus the sin of the refracted angle (R). To find the slope of the graph we need to can use a gradient formula and 2 points. Taking the first and last points, (.350, .259) and (.985, .743) we get the following:  Slope = y2 y1 = -0.484 = 0.762  x2 x1 = -0.635  Now to find the y-intercept, taking the last point: (.743) = (0.762)(.985) + C  C = -0.00757 or rounded to 0 (3sf)  So our equation for our line looks like this, y = (0.762)x  Percentage error:  Since we are given the refraction index number for water the medium we are using in this experiment, we can obtain a percentage error between the two values. Actual Refractive Index value for water Average sin i / sin R  Actual Refractive Index value for water x 100 =  1.34 1.333  1.333 x100 = 0.53 %  The percentage error in our experiment was a very small 0.53 %  Conclusion:  With regards to my hypothesis, I believe I was correct when saying we would be able to distinctly define a linear relationship between the sin of the incident ray angle and the sin of the refracted ray angle.Not only that, but we were able to obtain a value almost exact to 2 decimal places for the refractive index number of water (our percent error was around half a percent very small indeed). From this, several conjectures can be drawn such as how the textbook refractive values for different mediums were actually found perhaps it was similar to our method but with more trials and better accuracy. Our results agree with my hypothesis due largely to the fact that we were successfully able to determine a precise value for the refractive index of water, and when we plotted our sin i vs. sin R graph, the line made was almost perfectly linear (as it would have been if minor errors were avoided). Evaluation:  The method used in this experiment was indeed very successful and had very few flaws. The only real main weakness of the method was that the angles and scales used were so small that it was at times very hard to be any more accurate than to a whole degree. With regards to the manipulation of data, I would conclude that there was no real major weakness as our data seemed to be almost perfect when compared to the actual figures. Sources of error could have appeared when fiddling with the pins and the lamp during the experimental procedure. The thickness of the ray was not ideal and at times too fat to shine onto one single pin. Also after the ray was refracted, the brightness of the light ray was significantly duller and often very hard to find and trace.  Suggested improvements to the experimental procedure include perhaps using a stronger beam of light (maybe laser) so as to better see the angle of refraction. Likewise, the room in which the experiment is being carried out could be also darker. Further investigations could include observing other mediums. Although in my lab group, we chose to work with water, others were investigating glass, plastic and various oils all of which would give different data and results.

Amnesia essays

Amnesia essays Amnesia is often fabricated by television. They make it seem as though you bump your head and your life is nothing but a blur but in most cases this is only fiction. Amnesia is loss of memory but there are many different types. People who suffer from memory disorders are normally aware of it. It is normally caused by stroke, injury to the brain, surgery, encephalitis, and electroconvulsive therapy. Amnesia may also be caused by physical trauma, disease, infection, drug and alcohol abuse, or reduced blood flow to the brain. Principle symptom is inability to retain new information. The different types of amnesia are anterograde, retrograde, transient global amnesia, emotional/hysterical amnesia, lacunar amnesia, korsakoff syndrome, and posthypnotic amnesia. Antergrade is the inability to retain new information and normally follows brain trauma. Retrograde is the type of amnesia where a person can recall events after a trauma but not before. Transient global amnesia has no identifiable cause. Researchers suggest that migraines may be a cause. It consists of sudden forgetfulness and confusion and may last 30-60 minutes. Emotional/hysterical amnesia is a type of memory loss caused by psychological trauma. Lacunar amnesia is the inability to remember a specific event. Korsakoff syndrome is memory loss caused by alcoholism. Posthypnotic amnesia is the inability to remember events that occurred during hypnosis or information stored in long-term memory. As you can see, there are many different causes and types of amnesia. And most of the things that you hear are normally embellished. ...

Chesapeake Energy Corporation

natural gas† {Chesapeake Annual Report, 1998, p. 1}. Recently, Chesapeake finished the transformation from an aggressive exploration company focused on developing short-reserve life, to a lower-risk, longer reserve life natural gas producer. Chesapeake†s operations are focused on â€Å"developmental drilling and producing property acquisitions.† These operations are â€Å"concentrated in three major areas: the Mid-continent, the onshore Gulf of Mexico and far northeastern British Columbia, Canada† [Chesapeake Annual Report, 1998, p. 1]. Aubrey K. McClendon is Chesapeake†s Chairman of the Board, Chief Executive Officer and Director. Tom L. Ward is the President, Chief Operating Officer and Director. â€Å"McClendon met cofounder Tom Ward in the 1980†³s. Both were independent oil producers; they teamed up in 1983† [Morgenson, p. 2]. They each have more than 16 years of experience in the oil and natural gas industry. All other members of the management team have multiple years of experience in the industry. Chesapeake has concentrated on expanding its holdings in natural gas since the company†s incorporation in 1989. Chesapeake thinks that natural gas will be the fuel choice of the 21st century. The company has been highly competitive in both its exploration activities and efforts to increase its inventory of undeveloped leasehold land. This combination should enable Chesapeake to remain a competitive force in the energy producing industry. New technology in the oil and gas industry has made exploration and production more profitable. This is key for the survival of American businesses that compete with OPEC and other foreign cartels that have very low production costs. New technology, including three-dimensional imaging, which has greater resolution than the previously existing technology, will enable Chesapeake to detect reserves more accurately. Also, horizontal drilling has enabled companies to drain more than one reserve at a time. With profits continuing to be squeezed within this industry, new technology is necessary to help American businesses compete on a global scale. The oil and gas industry is truly a global market. The industry boosted gains in 1999 from increased production efficiency and a decrease in the current supply. U.S. firms, along with OPEC, have voluntarily reduced their total production, which has increased the price. OPEC currently supplies approximately 40% of the world oil production. If OPEC chooses to produce at a lower output, Chesapeake could easily increase production with its low production costs and huge reserves. Many other nations are emerging as competitors, such as the former Soviet Union and Latin American countries. The continuing increase in supply from other nations would potentially saturate the market, causing lower prices and lower profits. Demand is expected to rise only slightly more than two percent through the year 2005. The outlook for this industry is for increased competition domestically (from smaller companies) and internationally from emerging nations. The U.S. has superior technology, which will help keep profits up as supply increases and demand remains relatively constant. Natural gas makes up 72% of Chesapeake†s revenue. They usually sell the product to third parties and are not dependent on any one buyer. Less than 10% of their revenues are generated from two buyers. Governmental Regulations – Operational and Labor Relations The oil and gas industries are subject to considerable government regulation. These laws and regulations are primarily directed toward â€Å"the handling and disposal of drilling and production waste products and waste created by water and air pollution control devices† [Chesapeake 10-K, 1998, p. 10]. The oil and gas industry is accountable to numerous government agencies, including the Environmental Protection Agency, the Department of the Interior, the Department of Energy, the State Department and the Department of Commerce. Virtually every aspect of operations is subject to complex and ever changing regulations. The oil and gas industry is tightly regulated in regard to labor relations by government department and agencies, including the Occupational Safety and Health Association (OSHA) and the National Labor Relations Board (NLRB). Some states have their own state sponsored occupational safety plans, while the remainder must comply with federal OSHA regulations. Some of the topics covered under OSHA include personal protective equipment, hazardous communication (HAZCOM) and safety process training. Chesapeake had 453 employees as of March 15, 1999. None of these employees were represented by organized labor unions. The company considers its employee relations to be good [Chesapeake 10-K, 1998, p. 13]. Unocal (NYSE: UCL) employed 7,880 people as of December 31, 1998, of which 575 were represented by various U.S. labor unions [Unocal 10-K, 1998, p. 12]. Both companies are subject to new laws and regulations regarding the environment and labor. Chesapeake and Unocal cannot predict what adverse financial conditions the new laws and regulations will bring. However, short-term and long-term costs will increase as companies improve existing operations to become and remain compliant with government regulations. As a result, all companies in petro-chemical industries are experiencing tremendous difficulty operating profitable businesses. Several businesses have ceased operations as a result of increased regulation coupled with poor profit margins. Chesapeake is at a higher risk regarding this scenario since most of its operations are domestic. Unocal, although a U.S. based company, operations are concentrated primarily overseas, and therefore experience increased leniency regarding environmental and labor regulations. During the last two years, Chesapeake Corporation took a significant hit in terms of earnings, stock price and credit ratings. Positive 1996 earnings turned to a loss in 1997 and tumbled to a bigger loss of $10 per share in 1998. This earnings decline caused the stock price and credit rating to plummet. The company also faces a class action lawsuit stemming from alleged violations of federal securities laws. Top management and directors are accused of using insider information to sell personal holdings in the company at artificially inflated prices. Chesapeake had very disappointing years in 1997 and 1998 as evidenced by the fall in the stock price. The company underwent a substantial repositioning to increase natural gas holdings and reduce risk. As a result of this repositioning, Chesapeake incurred considerable debt and is dependent on the market prices of oil and natural gas to increase, and in effect, improve profit margins. Additionally, in 1997, Chesapeake changed their fiscal year end from June 30th to December 31st. As part of the repositioning, Chesapeake increased long term debt over $400 million to a total of $920 million, coupled with a short-term indebtedness of $25 million. This increased borrowing drastically reduced the company†s ability to obtain additional financing. Standard Poor†s and Moody†s placed Chesapeake on review with a negative outlook. The ability to meet obligations for this additional debt will depend on the production and financial performance of the company, market prices of oil and natural gas, and general economic conditions. Common Size Income Statement Analysis Chesapeake had an extremely large write-down of assets (impairment) as a result of reduced oil and gas prices during the past few years. This charge increased operating costs by over $1.2 billion during 1997-98 with 72% of that cost coming in 1998. The asset write-down, combined with expense increases in production, marketing and interest, were the main contributors of total operating costs to be over three times total revenue. The result was 1998 EBIT of ($920) million, and a non-existent ROE, since the company had a net loss approaching $1 billion. Unocal†s ROE was 5.9% in 1998 and 25.1% in 1997. The impairment cost reported by Chesapeake is questionable because of the very large amount that was charged. In perspective, Unocal with over $5 billion in property assets recorded an impairment charge of $97 million during 1998. If oil and gas prices rise in the near future, the impairment costs may be reversed giving the impression that the company is doing very well. Future investors of Chesapeake equities should consider this fact prior to making any investment decisions. Chesapeake had a $140 million reduction to both sides of the balance sheet. The repositioning of the firm focused on increasing inventory of natural gas reserves, â€Å"the fuel of choice for the 21st century† [1998 Annual Report, pg. 18]. Oil and gas properties nearly doubled from 1997 to 1998, totaling $2.2 billion. However, nearly $1.6 billion was depreciated, depleted and amortized. Additionally, cash decreased nearly $100 million, short-term investments were liquidated, and paid-in capital exceeded $1.1 billion over the past two years to provide additional cash for purchases of gas reserves. As a result, total property, plant and equipment was 85% of total assets in 1998 compared to 77% in 1997. In comparison, Unocal†s PPE was 66% and 64% of total assets respectively. Long-term debt increased over $400 million in 1998, totaling $920 million compared to $510 million in 1997. The $920 million was 113% in relation to total liabilities and owners equity of $813 million. In 1998, current liabilities were $131 million compared to current assets of $118 million. This resulted in a reduced current ratio of .90 from a 1997 ratio of 1.42. The Unocal current ratios during 1998 and 1997 were 1.01 and 1.29 respectively. Chesapeake has relied primarily on cash flow through financing activities during the past few years. Cash flow from operations was approximately $95 million in 1998 and $180 million in 1997, while cash flow from financing was $365 million and $278 million respectively. Sales accounted for $378 million in 1998 and appear to be rising approximately 35% annually from 1996 and 1997. However, an accurate comparison is unavailable because of the change in the company†s fiscal year end. Low oil and gas prices forced Chesapeake to borrow, sell equity, and liquidate short-term investments in order to continue operations and invest in oil and gas properties. The company is dependent on the rise of prices during 1999 to continue operations and provide shareholder wealth. The company has several restrictions from being able to borrow additional funds. Additionally, the price of stock has dropped from a high of $34 in 1996 to a low of $.63 in 1998. This has further reduced the company†s ability to generate cash. The current ratios for Chesapeake Energy are as follows: 1.00 (June 96), 2.03 (June 97), 1.42 (December 97), and .90 (December 98). Current liabilities remained constant over this period, ranging from a high of 19% (June 96) to a low of 15% (June 97), with the current level at 16% of total assets. Extreme levels of change in current assets caused the current ratio to fluctuate drastically. Current assets declined from a high of $297 million (31% of total assets) to a current low of $117 million (15% of total assets). This decline in current assets caused the deterioration of the current ratio. The acid test ratios are as follows: .94 (June 96), 2.00 (June 97), 1.37 (December 97), and .81 (December 98). As previously mentioned, current liabilities remained constant. Net accounts receivable remained flat as a percentage of total assets: 9% in 1996, 7% in 1997 (Both June December), and 9% in 1998. Marketable securities were sold off during the past three years, decreasing from 11% ($104 million) of total assets to zero. Cash decreased from 13% ($124 million) of total assets in 1997 (both June December) to 4% in 1998. The combination of severe decreases in both cash and marketable securities are the reasons that the acid test ratio decreased so dramatically. The quick ratios are as follows: .96 (June 96), 2.00 (June 97), 1.38 (December 97), and .86 (December 98). As mentioned previously, current liabilities remained constant and current assets declined. As with the current ratio, the main reason for the deterioration of the quick ratio is the continued loss of current assets. The above ratios and the reasons for their poor trends indicate Chesapeake is currently in a liquidity crisis. This, in combination with the increased debt liabilities, is an extreme warning to both investors and management. This condition also adds to the suspicion that assets are being sold off to fund current debt obligations. The firm†s ability to meet its obligations with cash, as they come due, is approximated by the cash flow liquidity ratio. As previously mentioned, solvency improved and then deteriorated as indicated by the current and quick ratios. The trends are confirmed when looking at cash flow. From 1995 to 1997, Chesapeake†s cash flow liquidity improved from 1.47 to 1.8. 1997 to 1998 showed a large drop in liquidity from 1.8 to 0.95. The company†s financial statement data gives an indication as to why. From 1995 to 1997, short-term solvency improved from 1.47 to 1.8. When looking at the data, cash from operations rose from $55 million in 1995, to $139 million in 1997. The 1997 rise was due to a change in the accounting period. During this same period, cash on hand rose from $56 million to $123 million and marketable securities rose from zero to $13 million. While cash was increasing, current liabilities rose from $75 million to $153 million. Current liabilities doubled during this period, while cash flow increased 150%. The larger increase in cash flow, relative to short-term obligations, accounts for the improvement in solvency during the 1995 to 1997 period. During the 1997 and 1998 periods, liquidity deteriorated as shown by the decrease in the cash flow liquidity ratio from 1.8 to 0.95. The data indicates that cash from operations dropped approximately 32% to $95 million. When looking at the Cash Flow Statement, the large decrease in operating cash is mainly due to the large net loss incurred during the period. At the same time, cash dropped 76% to $30 million while marketable securities fell to zero. Much of the cash appears to have gone to fund the company†s payables and accrued liabilities. Current liabilities were reduced 15% to $131 million. The larger reduction in cash flow relative to current obligations accounts for the deterioration in short-term solvency. The cash flow data confirms that Chesapeake†s liquidity suffered severe deterioration. A reduction in current liabilities is a good sign, but the little amount of cash generated and being used to fund current obligations is not enough. Cash assets are being used to fund these obligations as well. In comparison to the industry debt ratio of .31, Chesapeake ended with a debt ratio of 1.31 in 1998 compared to .71 in 1997. The long-term debt to total capitalization ratio increased from .64 in 1997 to 1.37 in 1998, while the industry average was .44. The tremendous increase in debt was attributable to significantly lower oil and gas prices during the past three years, and a failed drilling venture known as the Louisiana Trend. The company was forced to liquidate assets and take on a substantial amount of debt to meet operational expenses and increase oil and gas field reserves. Chesapeake was added to the Standard Poor†s â€Å"CreditWatch with negative implications† [Yahoo Finance, Nov. 14, 1999] in December of 1998. The low price of fuel during fiscal years 1996 through 1998 was the primary reason for Chesapeake†s troubles. The debt incurred has covenants restricting the company from seeking additional debt and from paying dividends to preferred stock holders. Principal on a large portion of the outstanding debt is not due until 2004 allowing the company time to improve operations. This will also give fuel prices a chance to rise, which is determinant to the company†s survival. The industry average for times interest earned is 5.2, while Chesapeake†s operating profit was ($856) million. The ratio equated to well below zero in 1997 and 1998. In 1998, interest payments were more than $68 million. The financial leverage index could not be computed since there was not a return on equity. Chesapeake overextended their credit by substantially financing with debt and has jeopardized their ability to make obligated payments for their debt and fixed costs. Chesapeake Energy Corporation natural gas† {Chesapeake Annual Report, 1998, p. 1}. Recently, Chesapeake finished the transformation from an aggressive exploration company focused on developing short-reserve life, to a lower-risk, longer reserve life natural gas producer. Chesapeake†s operations are focused on â€Å"developmental drilling and producing property acquisitions.† These operations are â€Å"concentrated in three major areas: the Mid-continent, the onshore Gulf of Mexico and far northeastern British Columbia, Canada† [Chesapeake Annual Report, 1998, p. 1]. Aubrey K. McClendon is Chesapeake†s Chairman of the Board, Chief Executive Officer and Director. Tom L. Ward is the President, Chief Operating Officer and Director. â€Å"McClendon met cofounder Tom Ward in the 1980†³s. Both were independent oil producers; they teamed up in 1983† [Morgenson, p. 2]. They each have more than 16 years of experience in the oil and natural gas industry. All other members of the management team have multiple years of experience in the industry. Chesapeake has concentrated on expanding its holdings in natural gas since the company†s incorporation in 1989. Chesapeake thinks that natural gas will be the fuel choice of the 21st century. The company has been highly competitive in both its exploration activities and efforts to increase its inventory of undeveloped leasehold land. This combination should enable Chesapeake to remain a competitive force in the energy producing industry. New technology in the oil and gas industry has made exploration and production more profitable. This is key for the survival of American businesses that compete with OPEC and other foreign cartels that have very low production costs. New technology, including three-dimensional imaging, which has greater resolution than the previously existing technology, will enable Chesapeake to detect reserves more accurately. Also, horizontal drilling has enabled companies to drain more than one reserve at a time. With profits continuing to be squeezed within this industry, new technology is necessary to help American businesses compete on a global scale. The oil and gas industry is truly a global market. The industry boosted gains in 1999 from increased production efficiency and a decrease in the current supply. U.S. firms, along with OPEC, have voluntarily reduced their total production, which has increased the price. OPEC currently supplies approximately 40% of the world oil production. If OPEC chooses to produce at a lower output, Chesapeake could easily increase production with its low production costs and huge reserves. Many other nations are emerging as competitors, such as the former Soviet Union and Latin American countries. The continuing increase in supply from other nations would potentially saturate the market, causing lower prices and lower profits. Demand is expected to rise only slightly more than two percent through the year 2005. The outlook for this industry is for increased competition domestically (from smaller companies) and internationally from emerging nations. The U.S. has superior technology, which will help keep profits up as supply increases and demand remains relatively constant. Natural gas makes up 72% of Chesapeake†s revenue. They usually sell the product to third parties and are not dependent on any one buyer. Less than 10% of their revenues are generated from two buyers. Governmental Regulations – Operational and Labor Relations The oil and gas industries are subject to considerable government regulation. These laws and regulations are primarily directed toward â€Å"the handling and disposal of drilling and production waste products and waste created by water and air pollution control devices† [Chesapeake 10-K, 1998, p. 10]. The oil and gas industry is accountable to numerous government agencies, including the Environmental Protection Agency, the Department of the Interior, the Department of Energy, the State Department and the Department of Commerce. Virtually every aspect of operations is subject to complex and ever changing regulations. The oil and gas industry is tightly regulated in regard to labor relations by government department and agencies, including the Occupational Safety and Health Association (OSHA) and the National Labor Relations Board (NLRB). Some states have their own state sponsored occupational safety plans, while the remainder must comply with federal OSHA regulations. Some of the topics covered under OSHA include personal protective equipment, hazardous communication (HAZCOM) and safety process training. Chesapeake had 453 employees as of March 15, 1999. None of these employees were represented by organized labor unions. The company considers its employee relations to be good [Chesapeake 10-K, 1998, p. 13]. Unocal (NYSE: UCL) employed 7,880 people as of December 31, 1998, of which 575 were represented by various U.S. labor unions [Unocal 10-K, 1998, p. 12]. Both companies are subject to new laws and regulations regarding the environment and labor. Chesapeake and Unocal cannot predict what adverse financial conditions the new laws and regulations will bring. However, short-term and long-term costs will increase as companies improve existing operations to become and remain compliant with government regulations. As a result, all companies in petro-chemical industries are experiencing tremendous difficulty operating profitable businesses. Several businesses have ceased operations as a result of increased regulation coupled with poor profit margins. Chesapeake is at a higher risk regarding this scenario since most of its operations are domestic. Unocal, although a U.S. based company, operations are concentrated primarily overseas, and therefore experience increased leniency regarding environmental and labor regulations. During the last two years, Chesapeake Corporation took a significant hit in terms of earnings, stock price and credit ratings. Positive 1996 earnings turned to a loss in 1997 and tumbled to a bigger loss of $10 per share in 1998. This earnings decline caused the stock price and credit rating to plummet. The company also faces a class action lawsuit stemming from alleged violations of federal securities laws. Top management and directors are accused of using insider information to sell personal holdings in the company at artificially inflated prices. Chesapeake had very disappointing years in 1997 and 1998 as evidenced by the fall in the stock price. The company underwent a substantial repositioning to increase natural gas holdings and reduce risk. As a result of this repositioning, Chesapeake incurred considerable debt and is dependent on the market prices of oil and natural gas to increase, and in effect, improve profit margins. Additionally, in 1997, Chesapeake changed their fiscal year end from June 30th to December 31st. As part of the repositioning, Chesapeake increased long term debt over $400 million to a total of $920 million, coupled with a short-term indebtedness of $25 million. This increased borrowing drastically reduced the company†s ability to obtain additional financing. Standard Poor†s and Moody†s placed Chesapeake on review with a negative outlook. The ability to meet obligations for this additional debt will depend on the production and financial performance of the company, market prices of oil and natural gas, and general economic conditions. Common Size Income Statement Analysis Chesapeake had an extremely large write-down of assets (impairment) as a result of reduced oil and gas prices during the past few years. This charge increased operating costs by over $1.2 billion during 1997-98 with 72% of that cost coming in 1998. The asset write-down, combined with expense increases in production, marketing and interest, were the main contributors of total operating costs to be over three times total revenue. The result was 1998 EBIT of ($920) million, and a non-existent ROE, since the company had a net loss approaching $1 billion. Unocal†s ROE was 5.9% in 1998 and 25.1% in 1997. The impairment cost reported by Chesapeake is questionable because of the very large amount that was charged. In perspective, Unocal with over $5 billion in property assets recorded an impairment charge of $97 million during 1998. If oil and gas prices rise in the near future, the impairment costs may be reversed giving the impression that the company is doing very well. Future investors of Chesapeake equities should consider this fact prior to making any investment decisions. Chesapeake had a $140 million reduction to both sides of the balance sheet. The repositioning of the firm focused on increasing inventory of natural gas reserves, â€Å"the fuel of choice for the 21st century† [1998 Annual Report, pg. 18]. Oil and gas properties nearly doubled from 1997 to 1998, totaling $2.2 billion. However, nearly $1.6 billion was depreciated, depleted and amortized. Additionally, cash decreased nearly $100 million, short-term investments were liquidated, and paid-in capital exceeded $1.1 billion over the past two years to provide additional cash for purchases of gas reserves. As a result, total property, plant and equipment was 85% of total assets in 1998 compared to 77% in 1997. In comparison, Unocal†s PPE was 66% and 64% of total assets respectively. Long-term debt increased over $400 million in 1998, totaling $920 million compared to $510 million in 1997. The $920 million was 113% in relation to total liabilities and owners equity of $813 million. In 1998, current liabilities were $131 million compared to current assets of $118 million. This resulted in a reduced current ratio of .90 from a 1997 ratio of 1.42. The Unocal current ratios during 1998 and 1997 were 1.01 and 1.29 respectively. Chesapeake has relied primarily on cash flow through financing activities during the past few years. Cash flow from operations was approximately $95 million in 1998 and $180 million in 1997, while cash flow from financing was $365 million and $278 million respectively. Sales accounted for $378 million in 1998 and appear to be rising approximately 35% annually from 1996 and 1997. However, an accurate comparison is unavailable because of the change in the company†s fiscal year end. Low oil and gas prices forced Chesapeake to borrow, sell equity, and liquidate short-term investments in order to continue operations and invest in oil and gas properties. The company is dependent on the rise of prices during 1999 to continue operations and provide shareholder wealth. The company has several restrictions from being able to borrow additional funds. Additionally, the price of stock has dropped from a high of $34 in 1996 to a low of $.63 in 1998. This has further reduced the company†s ability to generate cash. The current ratios for Chesapeake Energy are as follows: 1.00 (June 96), 2.03 (June 97), 1.42 (December 97), and .90 (December 98). Current liabilities remained constant over this period, ranging from a high of 19% (June 96) to a low of 15% (June 97), with the current level at 16% of total assets. Extreme levels of change in current assets caused the current ratio to fluctuate drastically. Current assets declined from a high of $297 million (31% of total assets) to a current low of $117 million (15% of total assets). This decline in current assets caused the deterioration of the current ratio. The acid test ratios are as follows: .94 (June 96), 2.00 (June 97), 1.37 (December 97), and .81 (December 98). As previously mentioned, current liabilities remained constant. Net accounts receivable remained flat as a percentage of total assets: 9% in 1996, 7% in 1997 (Both June December), and 9% in 1998. Marketable securities were sold off during the past three years, decreasing from 11% ($104 million) of total assets to zero. Cash decreased from 13% ($124 million) of total assets in 1997 (both June December) to 4% in 1998. The combination of severe decreases in both cash and marketable securities are the reasons that the acid test ratio decreased so dramatically. The quick ratios are as follows: .96 (June 96), 2.00 (June 97), 1.38 (December 97), and .86 (December 98). As mentioned previously, current liabilities remained constant and current assets declined. As with the current ratio, the main reason for the deterioration of the quick ratio is the continued loss of current assets. The above ratios and the reasons for their poor trends indicate Chesapeake is currently in a liquidity crisis. This, in combination with the increased debt liabilities, is an extreme warning to both investors and management. This condition also adds to the suspicion that assets are being sold off to fund current debt obligations. The firm†s ability to meet its obligations with cash, as they come due, is approximated by the cash flow liquidity ratio. As previously mentioned, solvency improved and then deteriorated as indicated by the current and quick ratios. The trends are confirmed when looking at cash flow. From 1995 to 1997, Chesapeake†s cash flow liquidity improved from 1.47 to 1.8. 1997 to 1998 showed a large drop in liquidity from 1.8 to 0.95. The company†s financial statement data gives an indication as to why. From 1995 to 1997, short-term solvency improved from 1.47 to 1.8. When looking at the data, cash from operations rose from $55 million in 1995, to $139 million in 1997. The 1997 rise was due to a change in the accounting period. During this same period, cash on hand rose from $56 million to $123 million and marketable securities rose from zero to $13 million. While cash was increasing, current liabilities rose from $75 million to $153 million. Current liabilities doubled during this period, while cash flow increased 150%. The larger increase in cash flow, relative to short-term obligations, accounts for the improvement in solvency during the 1995 to 1997 period. During the 1997 and 1998 periods, liquidity deteriorated as shown by the decrease in the cash flow liquidity ratio from 1.8 to 0.95. The data indicates that cash from operations dropped approximately 32% to $95 million. When looking at the Cash Flow Statement, the large decrease in operating cash is mainly due to the large net loss incurred during the period. At the same time, cash dropped 76% to $30 million while marketable securities fell to zero. Much of the cash appears to have gone to fund the company†s payables and accrued liabilities. Current liabilities were reduced 15% to $131 million. The larger reduction in cash flow relative to current obligations accounts for the deterioration in short-term solvency. The cash flow data confirms that Chesapeake†s liquidity suffered severe deterioration. A reduction in current liabilities is a good sign, but the little amount of cash generated and being used to fund current obligations is not enough. Cash assets are being used to fund these obligations as well. In comparison to the industry debt ratio of .31, Chesapeake ended with a debt ratio of 1.31 in 1998 compared to .71 in 1997. The long-term debt to total capitalization ratio increased from .64 in 1997 to 1.37 in 1998, while the industry average was .44. The tremendous increase in debt was attributable to significantly lower oil and gas prices during the past three years, and a failed drilling venture known as the Louisiana Trend. The company was forced to liquidate assets and take on a substantial amount of debt to meet operational expenses and increase oil and gas field reserves. Chesapeake was added to the Standard Poor†s â€Å"CreditWatch with negative implications† [Yahoo Finance, Nov. 14, 1999] in December of 1998. The low price of fuel during fiscal years 1996 through 1998 was the primary reason for Chesapeake†s troubles. The debt incurred has covenants restricting the company from seeking additional debt and from paying dividends to preferred stock holders. Principal on a large portion of the outstanding debt is not due until 2004 allowing the company time to improve operations. This will also give fuel prices a chance to rise, which is determinant to the company†s survival. The industry average for times interest earned is 5.2, while Chesapeake†s operating profit was ($856) million. The ratio equated to well below zero in 1997 and 1998. In 1998, interest payments were more than $68 million. The financial leverage index could not be computed since there was not a return on equity. Chesapeake overextended their credit by substantially financing with debt and has jeopardized their ability to make obligated payments for their debt and fixed costs.

Decreasing Rates of Neutropenia in the Chemotherapy Patient Research Paper - 1

Decreasing Rates of Neutropenia in the Chemotherapy Patient - Research Paper Example Cameron (2009) suggests that letting patients know the signs and symptoms of neutropenia if they are at risk from chemotherapy treatment will allow them to recognize these signs early and receive treatment. This should prevent any complications (such as infectious disease) and prevent a delay to chemotherapy. This again suggests that the outcome of education will be a reduction in neutropenia. Matias et al (2010) also suggest that the length of time before neutropenia becomes apparent can be estimated in chemotherapy patients, allowing staff to put patients at this stage of treatment on watch to help reduce complications. Taking this information into account, it was necessary to design a method for practise-based change. As the need for this change had already been found, it was only necessary to find appropriate methods of education for staff and patients alike that could help reduce the number of cases of neutropenia. It was suggested that seminars and information leaflets could be the most useful in this case, and that distribution of these to everyone involved should occur. To check the results of this program, it would be necessary to statistically compare the number of cases of neutropenia in the cancer ward before and after this education. In conclusion, there is a lot of evidence that this system could work and should undergo a trial run in one healthcare establishment. This would allow for any problems to be found before releasing the program on a national scale.

Curriculum Development for CTE Research Paper Example | Topics and Well Written Essays - 750 words

Curriculum Development for CTE - Research Paper Example The program ensures that it offers the necessary skills and certificates that students require in their careers. It contains a set of the curriculum which is structured to reflect on the basics that are taught during technical training of students. The printed materials used in the CTE program fully match the training requirements because they are in accordance with the syllabus so as to enhance cohesion and understanding of the basics by the students. The students passing through this program highly benefit from the verse academic and technological resources presented by the institutions offering this program. This is because they gain the much needed first hand information on the basics (Wang & King, 2009). The equipments used in the CTE program are always technologically updated to ensure that the instructors teaching the program curriculum finds them efficient and effective to them and the students. This exposes students to the technological world and ensures efficiency upon sitt ing for the real classes. In most cases, it is the government that takes sole responsibility of sponsoring the CTE program for economical purposes. This enhances efficiency on the part of the instructors as they have all the necessary materials; on the other hand, it takes the burden away from private individuals who are out to make profits, and to make it an affordable to every student. Its aim is to bring change in the educational subjects that are of immense importance to the economy. They aim at imparting students with such skills like engineering and medicine which are of meaning to the expansion of the economy technologically (Wang & King, 2009). Reflections To evaluate the CTE program, the outcomes for the program must be measured for accuracy. This can be done through a survey, by conducting a research using a questionnaire to investigate the student remarks, or a sample research where samples of students are asked and data approximated. The CTE curriculum is aimed at helpin g students to acquire the basic skills through a clear organized and reflective program, which is its main purpose. The CTE program has tremendously assisted in my education because to a certain level the resources provided by the program have simplified my academic work, hence the accomplishment of school work accurately, efficiently, and effectively. My technical institution is a beneficiary of the program, and I get the privilege to access various academic resources provided for the student’s purposes. These academic resources have boosted learning and grades in school. Initially, most students could not attain the results which were essential in taking a CTE course, but with the changing times, majority of the students in technical institutions have registered for CTE courses. An example is, before I was enrolled for a CTE course, I experienced certain challenges that denied me an opportunity into the program. The most significant was my geographical area. It turned out t o be one of my nastiest nightmares because the district I came from did not benefit from the program, since it was inaccessible due to a variety of reasons. In my view, all CTE programs should be incorporated to enable it maintain its viability in secondary school education in technical education. The program largely contributes in such fields like

Operations Security and Production Controls Essay

Operations Security and Production Controls - Essay Example â€Å"OPSEC is generally regarded as not only a methodology, but also a mindset, and has its roots in the Vietnam Conflict.† (Operations Security, 2007). Operations security involves five processes which are as follows: Production control, as the name specifies, involves the control of production activity of an organization in accordance with the stated standards. Production control is exercised in an organization for proper scheduling of the product, to incur minimum possible expenditure and to check over production as well as under production. It also works for inter-linking the men, money, machine and materials through proper co-ordination techniques. â€Å"It refers only to the control or scheduling of production rather than the wider control of all business or enterprise resources.† (Production Control vs MRPII). The case can be better explained with the help of case study. The case deals with Reflex Mattresses, a company that produces mattresses, carpet and other textile items. The company, in the past, incurred heavy loss due to the leakage of information and ideas from the organization. The company decided to launch water bed for the first time in the market. This information was gathered by a major competitor, Good Night Beds, and they produced and launched water beds in the market. Thus, they grabbed the major chunk of the market share for the product. Reflex was able to launch the product only two months after that. The company had now proposed an action plan to launch a new variant of the product called Aqua bed. The product is proposed to be an aquarium embedded water bed. The analysis of the action plan is as follows. 1) Critical information identification: In the case, the core idea itself is critical information as this new idea can be easily copied by the competitors for their benefit. There are chances that the competitors may come up with the product before Reflex could. So

International relations Essay Example | Topics and Well Written Essays - 1750 words

International relations - Essay Example Further, the customs and the heterogeneity of the indigenous populations within each national territory as defined by the physical boundaries have concentrated on minding the issues of their own territories, as opposed to focusing on integration of the region. Thus, despite the region having a higher potential for contributing and even influencing the global geopolitical and economic system, the disconnected territories have retained their cultural, political and economic developments within their individual territories (Severino, 2009). Nevertheless, it cannot be argued that the region lacks inter-countries interaction completely. There has existed some interaction among the different areas of the South East Asia, although the interaction has been such minimal as to significantly alter the preservation of the individual cultures of these nations. Consequently, the idea of the formation of the Association of Southeast Asian Nations (ASEAN) was one major stride towards bringing this r egion into a common economic bloc, which would then be able to negotiate its political and economic space in the global geopolitical and economic system (Lee, 2006). There is no doubt that the region could be highly influential on the global platform if it could be united under one umbrella, which would act as its vehicle of international negotiations. However, the preservation of strong individual culture among the nations of the South East Asia region has played a major role in hindering the formation of the regional economic bloc. The competing interests purely based on the uniqueness of the individual culture of each nation has meant that creating a regional bloc that would integrate the South East Asian countries of Philippines, Thailand, Indonesia, Malaysia and Singapore (Basu, 2013). The ASEAN was first established on 8 August 1967, when the five countries came together and signed the Bangkok declaration, which founded ASEAN as a loose organization (Lee,

Macy's case Essay Example | Topics and Well Written Essays - 1500 words

Macy's case - Essay Example Macy’s has for some period has been one of the most influential and innovative players in departmental store sector, contributing to adoption of numerous managerial and technological innovations that include data processing, store merchandising, inventory control, among others. By the 50s, almost every state, in America, had its own departmental store. However, fifty years later, this had changed drastically with a decline in sales. Macy’s decided on converting regional departmental stores into one brand while also repositioning the store in order to differentiate it from its competitors. While the move was derided in some quarters as futile due to the demise of the departmental store as a whole, some analysts were of the idea that the store’s strategy was vital in revitalizing the declining industry. Which factors in the external environment could affect (positively and negatively) the success of Macy’s new strategy? Which internal factors could affect th e success of the company’s strategy? Departmental stores are currently in danger of extinction. While there were thirty-five major chains of departmental stores in the 80s, there are only thirteen left in operation today. Conventional departmental stores in the 90s accounted for two and a half percent of total income for American households, which have dropped to 1.6%, forcing departmental stores to reinvent their business strategies or suffer the risk of being run out of business. This results in the emergence of two models in for the departmental store sector in search for a profitable return. One has been the strong retail brand. The approach has been successful for departmental stores in the promotion and creation of in-house merchandise brands. Departmental stores are, therefore, able to promote their brands and name, assuming that the brands will reach a significant level of popularity, as opposed to relying on individual third party brands. Another model involves the s howcase approach that involves leveraging vendors of brands that are accountable for a substantial share of the retail process. The key, in this model, is the promotion of the shopping experience attraction, although this model leads to lower margins of profit. One factor that affects retail sales is the economic environment that dictates the consumer’s expendable income. At Macy’s 2005 consolidation, the retail business operated under positive economic conditions. This changed in 2008 with the advent of the economic recession that stretched throughout 2010. Some improvement was noted in 2011, although this was tempered by the increased oil prices and an increase in cotton prices. Another factor was industry products and services with the new departmental store model of the 90s utilizing decreased space and coming to resemble specialty-clothing stores. Women’s products, such as cosmetics and apparel wear accounted for sixty percent of floor space, men, and child ren accessories accounted for 20%, and household goods accounted for 20%. The new model did away with traditional departmental store wares. Departmental stores placed increased emphasis on fashion, differentiating them from low-end competitors and responding to complaints of blandness from customers. Departmental stores also began attempts at developing unique positions from a selection of five categories including low end, lower middle, upper-middle, high-end

Operations Security and Production Controls Essay

Operations Security and Production Controls - Essay Example â€Å"OPSEC is generally regarded as not only a methodology, but also a mindset, and has its roots in the Vietnam Conflict.† (Operations Security, 2007). Operations security involves five processes which are as follows: Production control, as the name specifies, involves the control of production activity of an organization in accordance with the stated standards. Production control is exercised in an organization for proper scheduling of the product, to incur minimum possible expenditure and to check over production as well as under production. It also works for inter-linking the men, money, machine and materials through proper co-ordination techniques. â€Å"It refers only to the control or scheduling of production rather than the wider control of all business or enterprise resources.† (Production Control vs MRPII). The case can be better explained with the help of case study. The case deals with Reflex Mattresses, a company that produces mattresses, carpet and other textile items. The company, in the past, incurred heavy loss due to the leakage of information and ideas from the organization. The company decided to launch water bed for the first time in the market. This information was gathered by a major competitor, Good Night Beds, and they produced and launched water beds in the market. Thus, they grabbed the major chunk of the market share for the product. Reflex was able to launch the product only two months after that. The company had now proposed an action plan to launch a new variant of the product called Aqua bed. The product is proposed to be an aquarium embedded water bed. The analysis of the action plan is as follows. 1) Critical information identification: In the case, the core idea itself is critical information as this new idea can be easily copied by the competitors for their benefit. There are chances that the competitors may come up with the product before Reflex could. So

Macy's case Essay Example | Topics and Well Written Essays - 1500 words

Macy's case - Essay Example Macy’s has for some period has been one of the most influential and innovative players in departmental store sector, contributing to adoption of numerous managerial and technological innovations that include data processing, store merchandising, inventory control, among others. By the 50s, almost every state, in America, had its own departmental store. However, fifty years later, this had changed drastically with a decline in sales. Macy’s decided on converting regional departmental stores into one brand while also repositioning the store in order to differentiate it from its competitors. While the move was derided in some quarters as futile due to the demise of the departmental store as a whole, some analysts were of the idea that the store’s strategy was vital in revitalizing the declining industry. Which factors in the external environment could affect (positively and negatively) the success of Macy’s new strategy? Which internal factors could affect th e success of the company’s strategy? Departmental stores are currently in danger of extinction. While there were thirty-five major chains of departmental stores in the 80s, there are only thirteen left in operation today. Conventional departmental stores in the 90s accounted for two and a half percent of total income for American households, which have dropped to 1.6%, forcing departmental stores to reinvent their business strategies or suffer the risk of being run out of business. This results in the emergence of two models in for the departmental store sector in search for a profitable return. One has been the strong retail brand. The approach has been successful for departmental stores in the promotion and creation of in-house merchandise brands. Departmental stores are, therefore, able to promote their brands and name, assuming that the brands will reach a significant level of popularity, as opposed to relying on individual third party brands. Another model involves the s howcase approach that involves leveraging vendors of brands that are accountable for a substantial share of the retail process. The key, in this model, is the promotion of the shopping experience attraction, although this model leads to lower margins of profit. One factor that affects retail sales is the economic environment that dictates the consumer’s expendable income. At Macy’s 2005 consolidation, the retail business operated under positive economic conditions. This changed in 2008 with the advent of the economic recession that stretched throughout 2010. Some improvement was noted in 2011, although this was tempered by the increased oil prices and an increase in cotton prices. Another factor was industry products and services with the new departmental store model of the 90s utilizing decreased space and coming to resemble specialty-clothing stores. Women’s products, such as cosmetics and apparel wear accounted for sixty percent of floor space, men, and child ren accessories accounted for 20%, and household goods accounted for 20%. The new model did away with traditional departmental store wares. Departmental stores placed increased emphasis on fashion, differentiating them from low-end competitors and responding to complaints of blandness from customers. Departmental stores also began attempts at developing unique positions from a selection of five categories including low end, lower middle, upper-middle, high-end

Risk Management Essay Example for Free

Risk Management Essay This is a report from a member of the finance, audit and risk management (FARM) Committee. I am currently the assistant manager of the flagship store in Queen Street, Brisbane, and have been given the opportunity to manage the new store in Toowoomba. There are some information about the risk manage of the new store. a. Scope: MacVille recognizes that risk management is an essential component of good management practice and is committed to ensuring the implementation of risk management processes that focus on the proactive management of risks across the organization. MacVille is committed to achieving its vision, business objectives and quality objectives by the proactive management of risk at all levels of the organization. b. Goals: MacVille aims to deliver our valued customers the very best cafe-going experience. In three years, the business will have established a presence across the Queensland and NSW, with the opening of additional cafes. c. Analysis: to thoroughly identify risks, we must examine the external environment surrounding an organization. This includes the political, economic, social, legal, and technological factors affecting the business. d. Research: As part of their overall strategy in the Australian beverage market, MacVille Pty Ltd have developed a chain of cafes in the Central Business District (CBD) of Brisbane, Queensland and the CBD of Sydney, NSW. The board of directors has made the decision to expand their operations in Queensland with the purchase and re-branding of the existing Hurley’s cafe in Toowoomba, 130km west of Brisbane. e. Describe: By way of background, MacVille has agreed to employ all existing staff on three months probation. The current supervisor James Mansfield, has been offered the position of 2nd in charge and he has accepted. While settlement on the purchase of the business is not for another few weeks, the seller has agreed to grant us full access to the store’s operational processes and store information. I will liaise weekly with the Finance, Audit and Risk Management (FARM) Committee here at head office concerning the marketing, finance and store management functions that you are investigating. I will set up a regular meeting for you. Head office has a report on a similar expansion conducted by the NSW team and I hope you may help me in my research. You may need to review other statistical information and engage specialists to help you with your investigation. The legal firm Goldsmith  Partners are advising MacVille on the Hurley cafe acquisition and would be available to help you with legal or any compliance issues. The landlord of the shop in Toowoomba, Ron Langford, is also a local councillor and has offered his assistance in getting established in Toowoomba. He has offered his email address for correspondence.