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I was on my way to the band room to depend a few of my friends. I was dressed in my red McKinley High marching band sweatshirt and a plain pair of jeans. As soon as I walked in, I noticed my Spanish teacher, Mr. Schuester talking to my band teacher, Mr. Toffelmeir.Mr. Schue wore a smile and Toff wore that grumpy face. They were polar opposites, so I was kind of peculiar(a) to see why they were talking. Mr. Schue said, I was wondering if you had anyone that would be willing to join our Glee Club as a musician. We have almost everything covered, but we do need a mallet player and someone that can play a bunch of cool auxiliary.Toff looked around and his eyes stopped on me. He pointed.Mr. Schue grinned at me. Myranda Perfect Well be meeting today at lunch. Thank you, Mark.Then, he hurried out of the room. I blinked. What unspoilt happened?Toff laughed flatly. You just joined Glee Club. I frowned. But, Toff... I sighed.He started to walk away. He said, Ill be able to put on your lette r of recommendation that you were willing to abet me at any given chance and you were so willing to try new things. I stopped myself from groaning out loud. He got me there. Im sure he didnt call for to socialize with Mr. Schue, so he bribed me with that comment. After complaining about what Toff made me join, I went to class. I had AP Literature alone. Im glad I did, because it was easier to pay prudence that way. At least when the head cheerleader didnt walk by me, it was easy. She always tends to distract me with that short red skirt of hers. But, hey its not my fault that the color red attracts more(prenominal) attention because it is such an intense color. Its even said that red quickens heartbeats. So, it doesnt entirely help that she wea... ...ion to what Rachel was saying. My eyes were stuck in a trap and so was my mind. Why was she utter(a) into my eyes?Myranda? Rachel repeated and almost looked behind her to see what she was missing, but I cleared my throat.Sure, Ra chel. What do you need? I asked, saving myself.Email address and cellphone phone derive would be great. She smiled as she pulled a notebook and a pen out of her bag. She handed it to me and it took me a moment to remember my phone number because all I could mobilise about were Quinns eyes and the intense the gaze had been. My heart was thumping. I took a deep breath and then handed the knowledge over to Rachel. She beamed, It was great to meet you, Myranda. Thank you very much. After the confrontation with the co-captain, who I decided I liked, I drifted back towards the band. Derik smiled at me widely. What do you think of Rachel?

Censorship in Fahrenheit 451 :: Fahrenheit 451 Essays

Censorship in Fahrenheit 451   Fahrenheit 451 begins on the East Coast, IN LARGE AMERICAN CITY OF THE FUTURE.  The futuristic world described here is chilling, a future where every type of harbor, save inexpensive comics, are burned by firemen.   One such allayer is Guy Montag, who is tall and dark-haired like most firemen. One thing sets him apart from his colleagues, though he secretly loves books.               One night while Montag is travel home from a days work, he meets a young, bright girl named Clarisse McClellan. She is idealistic and hates the social structure of the times. She says that firemen once put out fires started accidentally instead of start them. Montag thinks this to be nonsense, for the Chief told him firemen have always been fire-starters. Clarisse goes on to tell him about her uncle, who remembers the past and has a sharp intellect. She tells Montag that her family stays up all night pu blic lecture about a variety of different subjects. He finds this to be extremely odd. Why would anyone want to stay up and talk?               Montag decides that Clarisse is eccentric because hardly anyone excerpt for firemen walk down the street at any time. He goes home to his wife Mildred, a woman who has very little to do except to photograph part in interactive TV shows. She has three walls of the living room equipped with such walls. She thinks that a fourth wall would be great, while Montag refuses because he thinks it is useless and expensive.               The next day, Montag finds Clarisse waiting at the bus stop. He asks her if she goes to school. She says she does NOT, because she HAS been labeled anti-social by her teachers. They SPOKE for a while, and he eventually goes to work. When he gets to work, an alarm is sounded, so the two firemen go to destroy the family of books. Before they burn the house down, Montag takes two books. When the owner of the house refuses to leave, a fireman burns her along with the house and its books. Montag feels sorry for the old lady, and he becomes depressed. The next day he calls in sick.               Captain Beatty, comes by and talks to him. Montag is lying in bed with a book behind his pillow.

Web Advertising :: essays research papers

These days, you cant sell a product or service without marketing it to the masses. And theres no better moorage to start than on the meshwork. Internet advertising is a gold mine with virtually every company in America represented. But with so numerous online competitors, advertisers must use special techniques and technologies to get the word out. The key to beating your competitors is by maximizing cost efficiency. The modal value to achieve this is by utilizing all the web has to offer for little or no money before spending on expensive technology. The first, probably the least expensive and most effective way to market your company online is by setting up enormous amounts of touch ons to your site. For example, the Prairie State Bank in Marengo, Illinois is its local park district, the chamber of commerce, the express of Illinois, as well as weather sites, map sites, and online auto dealerships. So a man interested in buying a car online could wiener on the link to the ban k to figure out the finances. (Dysart)Second, you must get listed on search engines. Many web surfers use Yahoo, Alta Vista and Excite every day to find specific information quickly. Because these engines have the incredible power to direct thousands of surfers, online companies are paying an arm and a leg to have their link be among the first links listed by the search engines. (Dysart)Third, you have to market kids who will eventually be potential customers. Many online companies directed toward adults offer childrens games and other services. The First National Bank of Milton, Illinois offers kids a homework helper and has links to toy stores and video game sites. (Dysart)Fourth, you can easily assure your credibility to prospective customers by creating a revolutionarysletter. In most cases the reader would sign up for a monthly e-mail from the company about any new business. This makes the reader feel like theyre important customers and boosts sales. (Dysart)Fifth, you must o ffer coupons. This technique works just as well off the net as it does on and should not be overlooked. They can be given to the customer via e-mail and printed out from their home or office computers. This makes the customer more believably to go to your site before checking out the competition. (Dysart)Sixth, nothing is more valuable than word-of-mouth. Your companys web site isnt complete without a inspire this site to a friend button.

Essay --

In 12 different states, former ex-felons even after serving their term have a large chance on losing their vote rights for good dont you think that is too harsh? 19 states give the ex-felons a chance to present their rights after their term of incarceration, parole, and probation, while an opposite 19 states give their rights back after their term is up. In this case you can conclude that no consequence how large or small the charge, the ex-felon was convicted of that their rights for voting should not simply be given back to them after their term, although the ex-felons should have the right to earn back their legal, select it should not be that easy. The NAACP is talking to the U.N. to make sure all former convicted felons in the United States can suffrage. They are currently trying to recommend ways to U.S. authorities on the topic of restoring all citizens voting rights. The NAACP states that nearly 6 million citizens are barred from voting because of previous felony co nvictions (Jamey Keaten) and that number is too high. The government officials in charge of the rights of ex-felons need to create a solution to allow majority of the former convicted inmates to vote again under certain circumstances and rules. The rights of ex-felons should be reestablished after their term is complete to a certain extent, maybe a jury of U.S. authorities can vote on a guideline or format regarding the voting rights of these ex-inmates that would fall under being uneducated or unserious, they could follow these rules and if deemed eligible to vote by the council they receive back their voting rights. The other ex-inmates who have committed less severe crimes should be given an opportunity to earn back their vote in all 51 states as well. serious becau... ...re there for a reason and arent right-minded. This opinion is very tempting to support, anyone can see where they are coming from when they are explaining why they do not agree on voting rights and thats beca use they have a very plausible reason not to. Former ex-felons should be granted the right to vote after their term is up to a certain extent. The U.S. states are split on their point of views of voting rights and the U.S. should have a national law regarding voting rights of former felons. Ex-felons should have to take an IQ test and post a reasonable score and follow mandatory guidelines after they are released from prison to fasten that they are responsible and smart enough to cast a reasonable vote. This rule would benefit the candidates in votings, help provide more veracious results, and give the ex-felon a sense of dignity and self-importance.

Abraham Lincoln Essay -- essays research papers

LincolnNo president of the United States ever fancied office under more difficult conditions than Abraham Lincoln. By the time of his inauguration day, a large portion of the South had already seceded as soon as they heard of his election. Nor did he have the support and confidence of a large portion of the North either.To most Americans, Lincoln was a relative unknown and his rough image and penchant for humor often led both his opponents and his staff to underestimate him. General McClellan dismissed his commander-in-chief as a buffoon while the abolitionist Wendall Phillips described Lincoln as a first-rate, second-rate man who was always waiting like any other servant for the people to come and manoeuvre him on any errand they wish. Such estimations show that Lincolns true intelligence and political acumen were widely misunderstood, perhaps owing to the fact that he was a complex and very private man, not readily given to sharing his inner thoughts with even his closest advis ors. He also appeared on the open to be a man of great contradictions. He was anti-slavery and stock-still he hesitated to free the slaves. He was a staunch believer in the Constitution and yet he suspended the writ of habeas corpus.The answer to these seeming contradictions lies in Lincolns character. He was both a man of high ideals and a pragmatist. His preponderant goal was the preservation of the Union. W...

Abraham Lincoln Essay -- essays research papers

LincolnNo president of the United States ever assumed office under more difficult conditions than Abraham Lincoln. By the duration of his inauguration day, a large portion of the South had already seceded as soon as they heard of his election. Nor did he have the support and confidence of a large portion of the North either.To most Americans, Lincoln was a relative unknown and his homespun image and penchant for humor often led both his opponents and his staff to underestimate him. General McClellan dismissed his com humander-in-chief as a buffoon while the abolitionist Wendall Phillips described Lincoln as a first-rate, second-rate man who was always waiting like any other servant for the people to come and send him on any errand they wish. Such estimations show that Lincolns true intelligence and political acumen were widely misunderstood, perhaps owing to the fact that he was a complex and very private man, not quick given to sharing his inner thoughts with even his closest adv isors. He also appeared on the surface to be a man of great contradictions. He was anti-slavery and til now he hesitated to free the slaves. He was a staunch believer in the Constitution and yet he suspended the writ of habeas corpus.The answer to these seeming contradictions lies in Lincolns character. He was both a man of high ideals and a pragmatist. His paramount goal was the preservation of the Union. W...

Bribery: Tammany Hall Essay

Political machines of fraud and bribery Introduction Lincoln Steffens published the shame of the cities witch was a book based on the putrefaction in the 1900s. By 1900, many cities in the south of America were controlled by political machines. These organizations consisted of full-time politicians whose main goal was to get and keep politicians power and silver and alike influence that went into it. In the 1900s, machines were usually associated with a political party partys forced to join to limit competition. And although it provided aids it also strangled opportunities for many citizens.Political bosses controlled access to city jobs for example police and fire departments or on nail downion projects. To get a city work contract you had to donate to the machines reelection campaign. Many business paid politicians make government not to interfere with their activities. Such payoffs became part of the cost of doing business. Muckrakers called them BRIBERY National government also suffered from corruption. For example, the constitution gave state legislatures the power to choose senators, but corporations often bribed state legislators to elect their favored candidates to the senate.The senates were really wealthy men with class ties to powerful industries. As cities and their problems grew rapidly the political environment changed. No longer did politicians run small manageable cities. These were big cities with big city problems and the government structures designed to cope with these problems grew. As the government grew it became the livelihood for many professional politicians. Some would argue that these politicians were corrupt, they would argue that they provided a needed service . he Society of St. Tammany, which was also called the Columbian Order, was founded in May 1789 (some sources say 1786).The organization took its name from Tamamend, a legendary Indian chief in the American northeast who was said to have had friendly transaction with W illiam Penn in the 1680s. The original purpose of the Tammany Society was for discussion of politics in the new nation. The club was organized with titles and rituals based, quite loosely, on Native American lore. For instance, the attracter of Tammany was known as the Grand Sachem, and the clubs headquarters was known as the wigwam. Befor long the Society of St. Tammany turned into a distinct political organization affiliated with Aaron burr, a powerful force in New York politics at the time.

Effect of supply and demand and gas in our lifetime Essay

Oil has been an integral socio-economic vehicle which within the corporate scene remains a highly competitive socio-economic driver. Due to spacious uses and take aim, oil has frame controversial and elastic in socio-politics. Here we see it causing socio constraints in oil producing countries and collapsing political institutions. Socially oil has a epochal contribution in our general lifestyle. It has a comparative role within the context of mobility and industrial function where it is used in factories as well as in institutions which use combustive machinery.It is a determinant of economic prowess of a country. It plays a major role in research and advancement of violence generation and use of bio fuels to ease environmental pollution. Gas is valuable in our lives found on the fact that it eases the burden of power use in readying and within many socio institutions especially within our families. Gas also has been highly competitive and still remains so with many countries seeking to sustain demand. latterly European countries grappled with Russian company Gazprom over egress of foul up when the company threatened to cut supplies.This paper reflects on the major effects of oil and flatulence on our lives in various vistas of socio-economics and its profundity. This profundity establishes the oil and gas use and contribution to socio-economics and politics. This analytical review covers environmental, political and research contributions, so as to sustainment sustenance of the same at per with teachings in the technological trends within our lives which drain vim resources and adversely effect socio-economic stability. Contribution to socio economics Economic growth is hooklike on free energy resources.Energy supply within the development perspectives of a nation deplete economic recession and create more apertures for industrial feeler in the nation. The distribution of resources within this economic perspective contributes to social economi c growth due to the dissemination of the resources made and gained from the industrial onward motion. Socio-economic progress is what supports the constituents of the society, namely the family. around families own vehicles, machinery and combustive equipment that require oil to run them. They own various oil consuming devices like generators which they use to get power and run their mundane activities.This perspective of integrating resources based on oil based contribution and importance is indicative of the pivotal role oil plays in the economic progression of a nation and a participation. On the negative aspect, oil has very diverse negative effects on social economic gains and has led to the breakup of economic stability within the units of the society. Increase in oil prices leads to stifling of social economics due to constrained spending so as to impinge on the higher cost of fuel. This constraint forces individuals to over spend and increased prices of goods and servi ces.The effect spreads within the society to the most unfortunate and stirs unrest due to the high prices. On the same aspect oil has been a very competitive socially owned natural resources which in as many countries has caused political divisions and social disintegration. Communities in developing nations soak up been embroiled in long civil wars like in Nigeria. Nations with superior industrial needs have sought after fetching advantage of lesser nations to establish forced oil drilling concessions so as to have a monopoly in the production of oil and directly fit their economic needs while hurting that of the producing country.The performance of the portfolio might be measured by the effects of throws in energy costs and availability of energy on the economy. Another portfolio measure might be the effects of the mix of energy sources on the diversity and vulnerability of the supply. Generating Electric Power in the peace-loving Northwest Implications of Alternative Technolo gies Christopher G. Pernin, Mark A. Bernstein, Andrea Mejia, Howard Shih, Fred Rueter, Wilbur Steger 2002. p 15 Effect on Resources Drilling oil has led to dilapidation of natural resources like forested rural atomic number 18a, leatherneck resources and agricultural land.The effect on these natural resources is basically destruction of their existence so as to create sufficient exploration and drilling acreage. To excavate gas or oil, exploration and seismic survey has to be conducted on very significant area of acreage which completely reduces this area to a wasteful land for many historic period. The long term effect is that, the existing resources and land itself becomes wasted and polluted due to activities involved to get the gas or oil out. withal there are positive attributes that come along with oil and gas production.There creation of jobs on these areas benefits local and professionals who have relevant experience and friendship on the activities related to drilling and producing oil and gas. Creation of infrastructure and connection to electricity grids become the positive effects on the resources which can be utilised within the region the drilling or production is on going. The resources, like agricultural activities directly benefit from these changes and developments. Existing coffee factories get a rise to revert from using diesel engines to electricity. Communities are connected to the electric grid and can access electricity.Industries come up and processing of natural resources become easier. prove reserves are both drilled and un-drilled. The proved drilled reserves, in any pool, include oil estimated to be recoverable by the production systems straight in operation, whether with or without fluid injection, and from the area actually drilled up on the spacing pattern in effect in that pool. The proved un-drilled reserves, in any pool, include reserves under un-drilled spacing units which are so close, and so related, to the drille d units that there is every reasonable probability that they will convey when drilled.Bruce C.Netschert The Future Supply of Oil and Gas A Study of the Availability of Crude Oil, Natural Gas, and Natural Gas Liquids in the United States in the close through 1975 1958. p 7 Development of secondary fuels Oil and gas have led to positive research on energy needs sphericly. Companies and researchers have been seeking best solutions to the waning supplies and deposits of gas and oil to curb the eminent collapse of the supply and demand. Discovery of coal mines, use of electric car and trains development of alternative oil are diverse developments all based on the oil and gas supply and demand agenda.According to arguments based on the global perspective on demand and supply of gas and oil, it is questionable and much worrisome Are resources likely to be available during the next fifty years in the quantities necessary to satisfy projected demands without substantial increases in pri ces? If not, what price in- creases are likely to be necessary to close the gap between supply and demand, and what are the effects of those increases likely to be? Ronald G. Ridker & William D. Watson To Choose a Future Resource and Environmental Consequences of Alternative Growth Paths. 980. p 96. Negative effects of the demand and supply is mainly seen within the oil curtails and supply context. International oil curtails have a stranglehold on the oil and gas prices and the effect of alternative oils becomes less dynamic and progressive stifling efforts to stipulate best policies to use to achieve the required progress in alternatives is slow. Implementation of development of alternative oils and energy resources has been ongoing. Creation of biodegradable oils has resolved much of the fears that demand would become elastic.Environmental effects Global warming and environmental degradation consequences on the flora are as a result of a lot of oil and gas exploration activities. Secondly the use of oil and gas in industries and within the concepts of electrocution has led to degradation of the environmental. Industrial effluent related to oil has undo the flora while gaseous emission like carbon emissions from vehicles and industrial machinery has destroyed the ozone layer resulting to global warming.There are literally no positive implications on the environment by oil and gas. However on the profound aspect of research advancing of technology to improve on the air and to maintain a level of complacency within the ozone layer has led to discovery and global use of green houses and introduction of policies which reflect on addressing how to stop global warming. Governmental and geo-political effects A lot of the current crisis within the global fronts is based on escalation of demand of oil and gas by major world like the United States.The demand for energy, especially based on oil supplies has become un-foreseeable, as such the need to have vast reserves of oil within proximity as insulation to the critical point of demand and picnic of demand is important. Non-Marxist social science, needless to say, had to contend with the reality, where incidents of collective violence were taking place all around. Facing this contradiction between their theory and reality, a compromise was reached by which it was hypothesized that anti-systemic conflict was only a temporary situation.This situation, they argued, would be symptomatic of the Third World nations going through a structural change. Structural change caused by the introduction of economic development and a new production relationship calls for the end to the traditional social and economic relationship. Dipak K. Gupta The Economics of Political fury The Effect of Political Instability on Economic Growth. 1990 p 31 The issue here is that political prowess has influenced a lot of political inclinations in various nations within the world.On the same context, government policies to cur b oil prices and to have reserves for future use have become null and wavering. The community within these jurisdictions suffer fluctuating oil prices and there is no consistency in the pricing hence the problem of constantly adjusting to the new prices due to miss of legislation. Political problems have emanated from this point with extremist policies on invasion of natural resources and barrel prices becoming tools of stifling economic progress in the communities.

Understanding The Difference of Living Standards & Standard of Living

The American flavor style has been very much shaped by their economy. Nearly every(prenominal) aspects of American, and for that matter the rest of the worlds, life have been changed by their economys in well-nigh way, shape or form. Everything from the beds we sleep on, to the food we eat, to the jobs we aquire to cause ends meet is continuously shaped by the different economies each respective country has.So what is quality of life anyway? There are in each(prenominal) resemblinglihood a thousand different answers to that question, but they all point in the uniform direction. calibre of life means how happy you are with the lifestyle you have. ar you unhappy because you dont have the belongings you want, or are you perfectly happy being without them, and believe in just enjoying life for what it is. Quality of life is a measure of your social, economic and mental well being.Standard of living is something exclusively different from quality of life. Although they sound th e same and the meanings of the illuminate lyric poem are similar, each phrase has its own meaning. The radicalard of your living may affect your standard of life though. Standard of living means the cloth possessions you have. It is the degree you are able to satisfy your significant wants and needs.First, to understand how the fact that the United States is a market economy affects the quality of life there, it helps for you to know some history on the subject. When the United States first started there was practically no secondary industry, this was because there hadnt been a need for it before then. All the States did was harvest the raw goods from the land and sell them back to the mother country. There wasnt any need to have any secondary industry. This all changed when they became a separate country. Later on when the British industrial revolution was about at its midriff the American revolution kicked in. this changed the secondary industry from a cottage based industry to a factory based industry with the introduction of machines that could do the work of several men. The farmers started to move out of the country and in to the grownup cities, where all the work was. Eli Whitney can be credited with the mass production of interchangeable parts.Unfortunately, this system created a feeling of alienation. The workers in the the factorys were in a totally different social class than the managers. This gap along with the fact that they didnt feel like they were part of the coroporation, a corporation acts as a integrity fictcios person, the workers didnt feel like they were part of this person. The quality of life of the workers at these factories went down. They felt alienated at work, then they went home to poor housing conditions, malnutrition and just about no social mobility. Although they werent nearly as bad as in Britain. The producers were happy though they were making lots of money and more and break-dance products than ever before.This l eads to the next issue of the relations between the labor force and management. This affects how people get the products, and how some people work, thus affecting the quality of life of many American citizens. Labor and management often have variations because the two groups have different views on how things should work. Management wants to keep production costs at a minimum, and therefore giving workers a low wage, while labor workers want high wages and lots of benefits for themselves. When the two groups have a disagreement and go into talks they try to find the answer to one simple question, what should be the terms and conditions of employment? and depending on their respective answers, they agree or disagree. These decisions fixate the relationship of these two groups.There are many risks in business, especially if you are the proprietor behind a proprietorship. This salmagundi of business means you stand to lose or gain the most. If this fact is causing similarly much st ress, your quality of life may go through the floor. But if you are the kind of person who values money very highly, your quality of life may go up when you have the knowledge that you may be able to work on that much money. There are always ways to get around the risks of business there are exemptions to every rule. There is always to lose too though.Since the coarse depression, government has had much more to do with the economy than it used to. The government has much more to do with the American citizens life since the great depression. This bothers some people, but others like the security of being under the governments protective wing. The government has decided to exert more controll because they want to cook the fluctuations of the business cycle. The government now makes laws and regulations to restrain the country. There are also many more social programs now, which some people couldnt live without. These were certain because people were losing money and jobs over thin gs which they didnt have control over, like market fluctuations.The consumer has a very important role in the economy, and so in there own standard of living, and even in there own quality of life. Some people are only happy when they have the material possessions, while others have no need of material things to make them happy. The people who need the possessions put a high regard to what the role of an American consumer is. Things like complaining when something is unsatisfactory, and becoming informed about which products to buy.Every country has an economic system, and economic systems affect lifestyles, quality of lives, and standards of living. An economy can affect life much the way a climate can. In fact, an economy is actually a kind of climate. An economy can change, fluctuate and cause harm much the same way a weather climate can. The united states has used all levels of government and private enterprise to ensure an adequate quality of life for all of its citizens. The m arket economy is allowed to function by the government as long as it supports the common good, or quality of life.

Louis Xiv, the Sun King

Louis XIV, the Sun King Historians over three centuries have both defended and criticized Louis XIVs controversial reign. Many slew hailed him as a bulky king supreme as the sun he deemed his emblem. A great king is an unselfish one who is able to consider the peoples interest before their own. This is a direct contrast to how Louis XIV ruled France, only he still accomplished a remarkable amount for France. Even with his selfish sequencenda and lavish spending, it is without question that Louis still remains the close to handsome and most powerful absolute monarch in European history.He is the epitome of an absolute monarch. Having so much authority making a few mistakes was inevitable. alone in his successes, France was altered for the better, permanently. Louis challenged the status quo by doing what had never been attempted. His bold choices changed the lifestyle and attitude of Europe, by creating one of the most dynamic monarchies in history. Although some whitethorn que stion his effectiveness, under Louis XIVs reign France achieved policy-making, militarily, and cultural dominance.In regards to politics, Louis attitude can be summarized in one infamous statement LEtat, cest moi (I am state). In other words, he possessed total control over his people, as an absolute monarch. He often referred to himself as the Sun King strategically flood tide up with such a name because the world revolves around the sun, as he wanted the people to revolve around him. His egotistical thinking gain him a few harsh critics but his dominance remained unquestioned. When in rule, he made it clear that his word was law.This was an effective approach for him. Through his absolute monarchy he was able to accomplish much for France, specifically in the early years of his reign. The Sun King even managed to strip parliament of their traditional power to close up legislation. Implementing the idea once more, that he was absolute ruler of all things. When Louis came to powe r, France was disheveled nobles were asking for extensions of power, in which they did not need. He put an end to this debacle in a time of separation, he sought to unify his people and he was able to do so.After centralizing government and gaining total control of reign, his efforts were focused on cutting deficit and promoting industrial growth. With the help of his alter ego, Jean Baptiste Colbert, they brought order out of chaos associated with the royal fiscal administration. Colbert possessed the interest in the peoples ideals that the king lacked this helped him better advice the king in his political reforms. By enforcing such reforms he pushed France towards a more stable government.Louis XIV made his most substantial impact in the realm of militarism. The foreign policy of prestige was mainly concerned with strengthening the armament. The king made such astute claims that requisite a strong military to defend his word. During his reign, he took the initiative to build a massive army, which grew to be more powerful than ever. Military reforms vastly change magnitude Frances power. By the late 1660s, France was the most powerful state in Europe. The armys destructiveness assisted in reaching his main goal to spend France to its natural borders.His adoration for power led to a series of wars that lasted many years- The four distinct conflicts that characterized his military excursions were War with Spain, the Dutch war, the war of Palatinate, and the war of Spanish succession. Unfortunately, his desire for expansion gained him a few enemies. The enemies being the countries he was trying to conquer. Even some of his people were underwhelmed with his efforts, having to pay for such reforms in heavy taxes. Overall, his military reforms helped France sustain a stronger army than ever.With such an astute commander, the cut military was certainly a force to be reckoned with. Just as Louis wars dominated political history in the late1600s, his palace at V ersailles dominated European close. The age of Louis saw a flourishing of culture throughout Europe. As an absolute monarch, he assumed total control over everything, and culture was no exception. The state was able to manipulate cultural developments and take them to unprecedented heights. His influence on culture contributed to the prestige of France (). The Sun King also aided in the blossoming of art and architecture.The great king created many programs and institutes to infuse more of the arts into cut culture. Louis patronage for the arts was concentrated on Versailles, a palace that is an unforgettable symbol of his power and influence on Europe. Versailles was one of the most beautiful achievements of eighteenth-century French art (). There was a shift from articulate paintings to posters, but the idea remained the same, to commemorate his power. The motives in supporting art were simple to pass the glamour and gloriole of his century to the generations to come.Louis XIV served the longest reign in European history. His time in power saw achievements that seemed unattainable for France, in the time before him. The age of Louis XIV was essential to European history for a manifold of reasons. First, his reign saw the triumph of absolutism, not only in France, but also in continental Europe. His creation of Versailles was an extravagant denotation for other European leaders to follow. Second, Louis wars proved the system of Balance of power to be an effective method. French trespass was contained and it became the norm.Most importantly, Louis reign established France as the dominant power in Europe. However, his legacy was not all positive his lavish spending habits left his successors a massive debt. While conditions in France were well during his rule, the problems caused by his decisions would help ignite the French Revolution in 1789. With that being said, Louis achievements deemed him one of the greatest monarchs in history. It is unfortunate th at so many historians focus only on debt and military failures, and not what he was able to do for France, when they desperately needed change.

Benefits of a Liberal Arts Degree Essay

The student who decides to pursue a extensive humanistic discipline bringing up in University often faces a discouraging reaction from family and friends. Everyone seems to know a B. A. in philosophy who is flipping burgers at Wendys, or an M. A. in English who is clerking at Wal-Mart. Students who choose slack humanities hear the same remarks oer and over What good is a degree in Medieval History, or Chinese literature, or Classics? Study something practical and get a real job In fact, however, no degree provides an automatic job ticket, since the market for employment is constantly in flux. The liberal arts offer education, not training, and thus prepare students for a wide range of possibilities in both work and life. By developing their minds through a liberal arts education, students benefit themselves, their eventual careers, and the culture at large . For anyone interested in personal and intellectual harvest-time, the liberal arts offer immeasurable benefits.Studies i n such fields as English and Philosophy introduce a student to the great writers and thinkers whose ideas have shaped our culture. By working through the dialogues of Plato, students see logic in action by study the plays of Shakespeare, the poetry of Wordsworth, or the novels of Dickens, they realize the power of language. Without knowledge of the great writers and thinkers of the past, people operate in a vacuum, unable to see beyond their immediate world. How asshole they gauge the validity of ideas if they know nothing except the present moment?In a media-driven culture of instant celebrity, students need to experience truths that have endured over hundreds and even thousands of years. These truths expand their thinking beyond their immediate limitations, and they discover new insights into their own minds. The benefits of a liberal arts education, however, go beyond personal growth into longer-term career skills. Every liberal arts course from Art History to Womens Studies re quires proficiency in reading and writing.Graduates with Arts degrees find their communication skills in de valet de chambred by employers seeking people who can read, write, and speak well. As Francis Bacon observed nearly 400 years ago, Reading maketh a full man conference a ready man, and writing an exact man(106). No courses develop these skills more fully than do those in the liberal arts. In addition, the liberal arts foster analytical thought the ability to break an argument into its parts and assess its validity.Clear analysis is fundamental to the practical worlds of tradeand commerce. Finally, the liberal arts encourage originality, as students learn to think in creative ways. The student who gives an inventive presentation or develops a fresh perception give enhance the workplace with that creativity. Its no surprise that law schools actively seek liberal arts graduates for its programs, or that jobs in the civil service, human resources, and amphetamine management are t ypically staffed by people with Arts degrees. The only surprise is that anyone still scoffs at the notion that a general B. A. is a utilizable degree.As significant as its impact may be on personal and career growth, the real value of a liberal arts education is found in its benefits to the culture as a whole. The liberal arts retain and transmit the history of civilization itself. Without a commitment to preserving that history, our culture runs the bump of forgetting or distorting its past. Liberal arts students serve as guardians of intellectual thought for the next generation. Writers, journalists, film-makers, and politicians the people shaping the thoughts and actions of the future are drawn from the ranks of liberal arts majors.For example, the creator of the Harry Potter series, J. K. Rowling, has an undergraduate degree in Classics, and Liberal leader Michael Ignatieff earned degrees in History. Moreover, the liberal arts tend to be interdisciplinary in nature. Knowledg e in one area illuminates another, so that instead of creating a society of narrow specialists, liberal arts studies actually encourage a culture of educated, open-minded people. Such individuals have both the capacity and the training to address practical problems in society.Leading reformers of the 20th century, including Nelson Mandela (Nelson) and Martin Luther King, Jr. (Martin), profited from their liberal arts studies. A degree in the liberal arts is not a dead-end route that culminates in a lifetime of serving fries or stocking shelves. Rather, it is a doorway that opens to paths heading in every direction. Students who expand their minds through liberal arts benefit themselves, their future career choices, and the wider culture.

The Lives of the Working Class During the Industrial Revolution

The lives of the on the think over kin during the Industrial diversityThe Industrial Revolution foremost started in Great Britain during the 18Thursdaycentury. It was a period when the chief beginning of seduce changed from agribusiness to exertion, and society from rural to urban. Before the Industrial Revolution, fabricating normally took topographic point in peoples houses utilizing basic tools and machines. Most peoples lives were hard, because of their meager incomes, so people produced their ain vesture and nutrient. When the Industrial Revolution started, powered machines, mills and mass outturn took topographic point. Peoples began to travel into metropoliss to acquire dutys in industry. It alike improved transit, communicating and banking. The Industrial Revolution improved the criterions of life for most people, but the on the job menage suffered from the Industrial Revolution because they takeed for long periods of clip with small remainder and gaining small inco me, their living conditions were intolerable and allowed disease to distribute easy.Although, during the Industrial Revolution, people began migrating to the metropoliss for a divulge life, the vicinities and lodging for the on the job category were insecure, unhealthy and cramped. For illustration, in 1750, the population of London was except approximately 670,000 and by 1900, it was 3 million. With so many another(prenominal) people migrating in, the mill proprietors had to construct lodging rapidly. These houses were called back-to-back houses. Back to endorse houses were literally built back to back sharing a rear argue with another house or mill, and most consisted of one room ( Troolin ) . Often one room ho utilize a whole house control and the whole edifice was divided between 15-20 households. The houses were tightly packed with no plumbing systems. Vicinities were foul people frequently threw their family waste out into the streets. Peoples had to have on long boots to traverse the contaminating streets full of excrement and dead animate being organic structures. Sanitation was about non-existent and many lavatories were found outside of the houses, because they smelt bad ( workaday livelihood in the Industrial Revolution. ) . Lack of patroling led to an addition in the offense rate. Banks, warehouses and sign of the zodiacs were new marks for larceny. More offense led to overcrowded prisons, and with that, it led to to a greater extent decease sentences. ( Did the Industrial Revolution lead to more crime. ) . The unprecedented velocity and graduated table of migration into towns caused a important alteration in life way of life which did non better the quality of life for the on the job category.In dumbly populated, industrial towns, diseases spread easy and wellness was affected. As there was no wisdom of sources, diseases spread quickly and easy over broad countries. Diseases such as cholera, enteric fever, and typhus were really common . Cholera was a menace because it was caused by bemire H2O. Cholera hit Britain in the clip about 1830 to 1867, with a bantam interruption in the center. When sewerage came into contact with the H2O, as people largely used rivers as their beginning of imbibing H2O, the disease spread fast. In London, in 1831-1832, approximately 7,000 people died of cholera. The disease was non ever fatal when you got it, but it had a 50 per centum likeliness of deceasing. 15,000 died of the disease in 1848-49. The disease largely affected the poorer people ( running(a) category ) but the upper category was non wholly unaffected, despite better life conditions. Another common disease was TB, which killed one tierce of all the people who died in Britain. It was caused by hapless diet and moist places ( Diseases in industrial metropoliss in the Industrial Revolution. ) . Peoples became less immune because of their hapless diet. Normal in-between category people ate three repasts a cardinal hours, w hereas the workings category Ate one time or sometimes twice a twenty-four hours with merely a piece of staff of life and a curl of porridge. Compared to the countryside, life in the dumbly jammed towns with hapless sanitation made diseases dispersed rapidly and easy.Another ground for mortality was the on the job category had to work long hours ( 12-14 hours a twenty-four hours ) in mills. They could merely hold a small sleep ( 4-6 hours a dark ) and continued to work the twenty-four hours after, which reduced their opposition to disease. Air pollution had a major consequence on peoples lungs. London became a metropolis with high telephone circuit pollution concentration. When fog and fume combined, smog formed, which could be lifelessly in 1873, 700 Londoners died of smog in a hebdomad. The combination of deficiency of slumber and smog in towns resulted in people falling badly more easy, sometimes even ensuing in decease.Working in mills was non good paid and conditions were r ough. Peoples had to work 12 to 14 hours a twenty-four hours, 6 yearss a hebdomad. The rewards for working in a mill were besides highly low. The whole household had to work ( including kids ) in order to back up themselves ( Troolin ) . Work reap earned between 20-30 shillings a hebdomad, adult females earned a 3rd of that and kids were non paid, but habituated nutrient and shelter ( Herman ) . Peoples would wake up early in the forenoon, eating their breakfast while running to the mill and work continuously until tiffin. Lunch breaks merely lasted 30 proceedingss and after that the workers would hold to work once more until around 9 p.m ( some until 11p.m ) and get down once more tomorrow ( Everyday Life in the Industrial Revolution. ) . Factory proprietors maximized net incomes by maintaining rewards low because of the copiousness of workers.Working in char mines was likely the most unsafe occupation during the Industrial Revolution. There were many dangers, with roof fall ini ng being the most common. The tunnels linking the land and the mine were really narrow and low. It made it difficult for workers to travel from topographic point to topographic point. Explosions besides occurred which frequently killed a batch of people. Working in a coal mine for redundanceively long, the coal air that the workers hard in would finally do serious harm to their lungs. Workers in coal mines did non hold a long life anticipation. Women and kids besides were employed in coal mines and did the same occupations as work forces ( Coal Mines in the Industrial Revolution. ) . Coal provided the fuel for the Industrial Revolution, but the human cost was high.Child labor was besides a serious job during the Industrial Revolution. 80 per centum of the full work force was made up of kids. Children were truly easy to engage. There were plentifulness of them in orphanhoods and they could be replaced easy if accidents happened. Some of the richer mill proprietors would take the ki ds to his attention to feed them and supply them a topographic point to kip in exchange of the kids working in their mill. Children did non gain the rewards that they should hold. It merely provided them with the basic demands and its hardly plenty to last. Children were lot cheaper than engaging grownups as the mill proprietors could pay less to back up the mill and the kids were little plenty so they could creep under machines and repair them. The unsafe conditions and the long working hours made them hold no clip to begin other excess activities. These kids had no instruction. This meant they had nil better to make but to work in mills for the remainder of their lives, and it continued on to the following coevals. At first, there were no Torahs to nourish these kids. The mill proprietors would merely corrupt the mill inspectors and that would be the terminal of it. By the early 1800s, 107,000 kids were employed in the fabric industry ( Thatcher ) . Numerous Torahs were passed t o protect kids. The first act was in 1819 that stated that kids under the age of 9 could merely work a upper limit of 12 hours. The most of import labor jurisprudence that the British parliament passed was the Ten Hour Bill of 1847. It limited the working hours for kids and adult females to 10 hours with better rewards. Although Torahs were passed to protect kids, they were non followed by the mill proprietors and parents needed their kids to supply for the household.Life anticipation did non better until after the Industrial Revolution. In rural countries in Britain the life anticipation was 45 old ages in London, it was 37 old ages. Other topographic points like Liverpool it was 26 old ages and in the early nineteenth century 25-33 per centum of English kids died originally the age of 5.In decision, the Industrial Revolution was a major alteration in life style and brought new sorts of engineering. Without the Industrial Revolution, the modern universe would non hold railwaies, mills, or mass production of goods. The upper and in-between categories had better and wealthier life conditions. The in-between category could afford non merely the basic demands, but other excess luxuries like more vesture, furniture, some vino on the dinner tabular array and a bigger house. The rich got richer and the hapless, unluckily, got even poorer. The working category all the way suffered from the Industrial Revolution. They had to populate in hapless and crowded houses, with the menace of diseases. Most of them didnt have a batch to eat and many starved to decease. solid households had to work and members were separated. In this period kids were one of the groups which suffered the most out of it. With the deficiency of instruction and because they were inexpensive to engage by mills proprietors, they became the chief work force and were frequently beaten. Although there were good long term effects for the on the job category and labour Torahs set to protect workers, it was still difficult for the working category to populate in industrial towns in such atrocious conditions after the Industrial Revolution.Plants CitedCoal Mines in the Industrial Revolution.HistoryLearningSite.History larning site.co.uk. n.d. Web. 3 March. 2015.Did the Industrial Revolution lead to more crime.National archives.n.d. Web. 8 April. 2015Diseases in industrial metropoliss in the Industrial Revolution.HistoryLearningSite.History larning site.co.uk. n.d. Web.3 March. 2015.Everyday Life in the Industrial Revolution.mylearning.Huddersfield Local Studies Library n.d. Web. 3 March. 2015.Factories in the Industrial Revolution.HistoryLearningSite.History larning site.co.uk. n.d. Web. 3 March. 2015.Herman, Samantha. Minimum Wagess for the Poor Class of the Industrial Revolution.eHow.eHow.com. n.d. Web. 8 April. 2015.Lobley, Pam. Differences Between Wealthy, Middle Class and Poor in the Industrial Revolution.Synonym.eHow.com. n.d. Web. 3 March. 2015.Thatcher, Wade. Child Labor Du ring the English Industrial Revolution.wathatcher.iWeb Ball State University.n.d. Web. 8 April. 2015.Troolin, Amy. The Working-Class During the Industrial Revolution Growth & A Ideologies.Study.Study.com. n.d. Web. 3 March. 2015.

Cooper Case

Executive Summary In the Case study, mark Industries is evidenceing to acquire Nicholson institutionalize gild. However, on that point argon two other companies that argon interested in Nicholson as well VLN locoweed and H. K. hall porter troupe. In 1971, VLN together with Nicholson management constructed a deal that, however, didnt get the support from the absolute majority of common stockholders. After having done a discounted cash flow analysis, I determined that Nicholson stock is undervalued. Also, Nicholson seems to be a technical strategic fit for make. in that respectfore, barrel maker could acquire Nicholson on friendly terms with a relatively large premium to attract the majority of the grants needed. The problem for Cooper is to determine how best to acquire Nicholson and the adequate terms to pay. 1. ) and 2. ) In my opinion, Mr. Cizik should make an attempt to gain control of the Nicholson File telephoner. Cooper Industries has been engage a policy of e xpansion through the acquisition of other companies and this strategy appears to be working well for them. They have acquired a number of companies and have been made in integrating them into Cooper Industries.They have established three criteria that put iniveness companies for acquisition must meet and Nicholson meets all three criteria. Nicholson holds 50% of the market place place lot in files and rasps, its main crops, therefore implying that Cooper could be a major factor in this industry. Nicholson is overly a leading company in their markets and it is a stable company in terms of not being dependent on a few major customers. Nicholson has a great deal of potential for greater sales growth as it is nevertheless growing sales at 2% compared with the industry average of 7%.Due to the strengths of its products and distrisolelyion system of rules they should be capable of raising growth rates to the industry average. The company is further desirable to Cooper as the t wo companies sales forces could be combine leading to cost savings. Nicholsons European distribution system could in like manner be very helpful in expanding Coopers sales in Europe. As Cooper Industries addresss more of their product to industry and Nicholson to the consumer market by combining the companies they may be able to enlarge sales of both product lines to the market segment they are weaker in. All in all, Mr.Cizik should try to gain control on Nicholson File company as it seems to be a good strategic fit. 3. Nicholsons firm value derived by the means of DCF analysis amounts to $ 39. 86 mio. After subtracting net debt, the value of Nicholsons equity amounts to $ 28. 86 mio. importation an equity value per share of $ 49. 42 (undervalued). This should similarly be the maximum price that Cooper should afford to pay for Nicholson. 4. Cooper analyzed the benefits of the coalition with Nicholson. Cooper estimated that the cost of goods sold after acquiring Nicholson coul d be reduced from 69% of sales to 65% meaning a dollar value of this synergy of $ 11. 7 Mio. Also, SG&A could be reduced from 22% of sales to 19% of sales pass oning in a dollar value of this synergy of $ 8. 45 Mio. These numbers are based on the combined net sales for 1972 using a 7% growth rate in sales from previous net sales (growth of industry level). The opposite distribution of business activity in business and consumer market is likely to result in tax revenue growth. The numerical effect of this revenue pulling, however, is highly vague at this point in time. 5. The metamorphose value Cooper could afford to pay out without causing any dilution according to my counting is $ 37. 2 per share meaning an Exchange Ratio of 1. 55. Thus, we could digest 1. 55 Cooper shares for every Nicholson share they need. This amounts to 133,013 of Coopers shares for 86,000 Nicholson shares. If they wanted to pay cash for the remaining stocks it would past be $37. 12 * 86000 = $ 3. 19 mi o. for the remaining stocks needed to gain control via 50. 1% of all shares. Despite the threat of EPS dilution, Cooper might be uncoerced to pay a price higher than $ 37. 12, if the negative short-term effect forget be outweighed by positive ones in the ong-run. In general, it is crucial to visualize the effect of acquisitions on EPS as a significant, or enduring dilution of EPS will harm the corporations military operation significantly. 6. I do recommend a loan as capital preferred financing structure. This use of debt rather than equity financing for the acquisition of Nicholson causes a higher return on equity, as well as an increase in the efficiency of existing capital structure. Also, there are tax advantages to be realized through debt financing (tax shield).The final goal would be to maximize shareholder value and this can be supported through a lower WACC resulting from a higher leverage (as effect outweighs increase of risk). The interest on debt is tax deductible r esulting in a higher Net Income and, thus, EPS. Nicholson management had veritable an offer from VLN Corporation using cashable stock but rejected a cash offer from H. K Porter. Nicholson may not want cash for their company. If that was the case, Cooper would need to offer accumulative convertible stock. 7. With an exchange ratio of 2, about 78% of the new firm would be owned by Cooper.The relatively high exchange ratio would result in a severe reduction of control to Nicholsons shareholder (22%). Under the collapsen circumstances with an exchange ratio of 2, the acquisition premium for paying(a) would be $ 14 per share. The minimum synergies required that this offer makes sense would be $ 8. 18 Mio. Given my synergy valuation from task 4, this would definitely be a realistic achievement. 8. Porter bought Nicholsons shares with the intention to take over the company themselves. However, as they werent able to acquire enough shares required to buy the company, they are now lookin g to tender their shares.Obviously, theyd like to do this profitably and, thus, their primary concerns are the price- and liquidity-level. They try to get the most value out of their stocks, so price is of primary importance in a bargaining process with them. Nevertheless, they want to be able to quickly liquidate their stocks meaning a appreciation for cash payments. They expressed that convertible preferred stock was acceptable as they assume Cooper stock to be stable and easily tradable on the NYE. The speculators/ unaccounted for shareholders would withal be primarily interested with price.These shareholders may be tempted to buy or not to buy based on what Nicholson family and its management suggests they do. Thus, one possible room to reach these aggroup of shareholders may be through management. Due to this influence, the family Nicholson and its management have a greater bargaining position as implied by their shares. They are interested in more than honourable the pric e. The management is not highly attracted to a takeover, but they know they no longer have a choice. So, at to the lowest degree, they wish to see Nicholson remain autonomous at bottom any acquiring company.Nicholsons management and family is most likely not willing to sell the majority of their shares for cash They wish to maintain a stake in the company. As a result, Cooper would need to offer a stock exchange. VLN, as Coopers tender competitor, is unlikely to be willing to sell their shares to Cooper for a reasonable price. Ex-Post In 1972 Cooper industries acquired Nicolson File Company Two Cooper Industries Inc. Based on the given information in the case study regarding the acquisition of Nicholson File Company by Cooper Industries, there is no question that Cooper should try to gain control of Nicholson.This decision is based on an analysis of the bargaining positions of each group of Nicholson stockholders which have disparate goals and needs that need to be met. In additi on, an appropriate payment method and specific dollar value based on a competitoras offer and Cooper financial data was decided. The quietus of this paper will provide the analysis and rationale for this determination. Should Cooper Industries Acquire Nicholson File Company? Cooper Industries has been expanding through diversification since 1996.Cooperas requirements to acquire a company has three major components. The target company must be 1. In an industry in which Cooper could become a major pseudo 2. In an industry that is fairly stable, with a broad market for the products and a product line of a? small ticketa items and 3. A leader in its market segment. When looking at the criteria that Cizikas company (Cooper Industries), set forth relative to acquisitions, the acquisition of Nicholson meets all three objectives plus has significant potential short and semipermanent potential.Cooper management feels that by eliminating redundancy and streamlining Nicholsonas operations t his potential can be realized. Currently, Nicholsonas financial history boasts a 2% increase in profit annually but this percentage is way below the industry average of 6%. Cooper management proposed that if Nicholson stops selling to every market, increased efficiencies would result and cut cost of goods sold from 69% of sales to 65%. It was also suggested that the acquisition could lower selling, general, and administrative expenses from 22% of sales to 19%.Nicholsonas position in the file and rasp market where it holds a 50% market share of a $50 million dollar market meets all three of Cooperas objectives. Furthermore, Nicholsonas brand name within the hand saw and saw blade industry is strong and Nicholson holds a 9% market share in the $200 million dollar a their only major competitor was Sears and Diston who held a larger market share. Shareholder Standings At the time of the proposed merger between Nicholson File and VLN, there were a total of approximately 584,000 Nicholson shares outstanding. H. K.Porter had not purchased enough shares to hold majority control, and this situation provided Cooper with yet another opportunity to acquire Nicholson. Nicholson and Porter stockholders had their own concerns, as well as bargaining positions, and if Cooper was to acquire Nicholson they had to address all of their concerns and induce them that the merger was a mutually beneficial proposition. The table below, Exhibit 7 in the case study, shows the estimated disposition of shares in early 1972 Estimated Distribution of Nicholson File Company Stock_______________Shares supporting Cooper H. K. Porter 177,000 Cooper Industries 29,000206,000 Shares supporting VLN Nicholson family and management117,000 Owned by VLN 14,000 131,000 Shares owned by speculators 50,000 a 100,000 Shares unaccounted for 197,000 a 147,000 Total Nicholson shares outstanding 584,000 Shareholder Concerns There are three major groups of shareholders that Cooper must consider when putting toge ther their offer to acquire Nicholson. These groups are Nicholson, H. K. Porter, and the group of Unaccounted for Shares and stunner Shares. Nicholson File CompanyLoss of control Nicholson managementas greatest fear was loss of operating control. The company had been in the Nicholson family for geezerhood, and if Cooper expected to gain support for the offer by Nicholson and gain at to the lowest degree 86,000 shares to tip them over the majority (206,000 + 86,000 = 292,000 584,000/2 = 292,000) they would need to guarantee them that they would work with the veritable management to maintain the identity and moving picture of Nicholson. Additionally, Wall Street investors would view the maintenance of Nicholson management as a stabilizing factor in the merger.Loss of product lines a Whichever company acquired Nicholson, there was no doubt that aggressive cost cutting measures would be pursued this would undoubtedly mean marginal product lines would cease to exist. Although Coope r could not decidedly guarantee that nothing would change, they could guarantee that they would work with Nicholson to determine if improvements could be made to product lines at risk and thereby maintain their existence, or at the leastinclude Nicholson management in the decision making alternatives. H. K. PorterStock valuation If the merger with VPN were successful, Porter would receive VLN preferred stock for their 177,000 Nicholson shares. VLN stock performance had been dreary, and did not show any signs of growth in the short-term. This would make it difficult for them to sell the shares of VLN on the American Stock Exchange which does not trade in large blocks. Additionally, from the years 1968 to 1971, VLN net sales had grown only 3% from $97 million to $100 million. Net income actually decreased by or so 7% for the same time period from $3. 2 million to $2. 98 million.Quick Sale a Porter will most likely sell their shares immediately after the deal is closed. They will d o this because they no longer will have an interest in acquiring Nicholson, and history has shown many time over that share prices will fall rather quickly as mergers do not create synergies through added value or earnings growth. Unaccounted For Shares and Spectator Shares Valuation and Sustainability a This voting bloc has the same concerns as Porter relative to share pricing, but is more concerned with sustainability unlike Porter who is concerned with making a quick dollar.They own a lot more shares, estimated between 150,000-200,000 shares, and are not certain that VLN Corporation projected figures are truthful. VLN Corporation has not paid consistent dividends for many quarters, and has not shown any real growth, yet is still offering to match Nicholsonas $1. 60 dividend rate as part of the merger deal. Shareholder Negotiations Both Nicholson and Porter had strong postures regarding the merger, and Cooper needed both companies to bless the merger to get it approved by a major ity of the stockholders.Cooper only owned 29,000 shares and needed a total of 292,000 shares to gain a majority. Nicholson and Unaccounted Shares The Nicholson family and management owned 117,000 shares. However, the speculation was that 150,000-200,000 of the unaccounted for shares would vote with the Nicholson family. This amount of shares would give Nicholson immense bargaining power. Cooper knew that their offer would have to be as good, if not better than VLNas offer, as Nicholson management wholeheartedly supported the merger with VLN. H. K. Porter Porter owned 177,000 shares.This was a major voting bloc and gaining their support was essential. Luckily, Porter was eager to work with Cooper because they believed their VLN preferred stock would only be worth $23. 12 in the first year (essentially worthless). Therefore, their support would be mutually beneficial and easier to garner. Cooperas Offer to Acquire Nicholson As has been expatiate above, each group of shareholders has their own concerns and bargaining power. Cooper has to induce both Nicholson and Porter that their offer is more than fair, and as a result, all three companies and shareholders will profit.Since Nicholson has an offer pending from VLN, it is imperative that Cooperas offer is better than VLNas proffer. The VLN offer includes that (1) the exchange would be a tax-free transaction, (2) the $1. 60 preferred dividend equaled the current rate on the Nicholson stock, (3) a preferred share was worth a minimum of $53. 10. At the time of the proposed offer, the closing price of Cooper stock was $24 per share. In order to match the bid by VLN, Cooperas offer would have to be greater than two-for-one for each Nicholson share. The offer would need to be in the range of 2. 5/2. 501 to be greater than the $53. 10 offer pending. It is of extreme importance to Nicholson that they maintain control. In mergers, culture clashes are lots the a? kiss-of-death. a? Cooper has a sincere offer to maintain t he integrity of the company and Nicholson would be wise to consider Cooperas offer as their goals and interests for the long-run are mutual. Cooper has a history of successful mergers and acquisitions, which should be of some comfort to Nicholson as they will be acquired by some company or group of investors.H. K. Porter Requirements Since Porter was not able to gain a majority vote, they are willing to side with Cooper over VLN. Porter realizes that a merger between Cooper and Nicholson will give them the opportunity to convert shares of Nicholson into Cooper stock a a much more beguiling proposition than that of VLN. Cooper needs to guarantee Porter that the exchange will be tax-free, and that the Nicholson stock he converts will be worth at least $50 each. Unaccounted for Shares and Spectator SharesThe offer to this voting alliance will need to be greater than the $53. 10 per share offer by VLN. They will also want the exchange to be tax-free to avoid capital gains taxes. As ha s been mentioned above, this group will most likely side with the Nicholson family so if the Nicholson family is satisfied, then this group will be also. Payment Considerations There are several considerations that Cooper management must take into account prior to deciding the specifics of the offer they will give Nicholson File Company in terms of dollar value and the form of payment.The form of payment may include an offer of cash, stock, debt or some combination of the payment options. Furthermore, Cooper not only has to consider Nicholson shareholders when determining what to offer, but it also needs to take into account the other 80% of the shares in public held, including a substantial percentage of shares held by competitor H. K. Porter. As previously described, one of the challenges Cooper is facing in this acquisition is to ensure a able offer that appeals to a sufficiently broad range of shareholders with different interests.This includes H. K. Porter which currently hol ds about 25% of the total outstanding shares and which recently failed in its seek acquisition of Nicholson. Also, the Nicholson family that founded Nicholson File Company currently owns approximately 20% of its own shares. The Nicholson family had also rejected Cooperas acquisition overtures three years earlier so Cooper management is aware of how precise the offer has to be to get Nicholson ownership to sign off on the deal. Another 50% of Nicholson shares are held by speculators and by other unknown parties.Form of Payment & Dollar Value The form of payment and the parameters for the dollar value offer that may be accepted by Nicholson management is exhibited in the described failed and accepted acquisition offer in the case study of Cooper (see Chart 1 below). The acquisition offers by both H. K. Porter, $42 per share in cash and VLN Corporation, $53. 10 in convertible stock, help provide at least a range within which Cooper may tailor its offer. Based on these two offers, it a ppears that the appropriate form of payment should be Cooper cumulative convertible stock.The primary background for this recommendation is that Nicholson management had already accepted an offer from VLN Corporation using convertible stock but rejected a cash offer from H. K Porter. This is consistent with Chang and Suk (1998) research which found that a? cash offers are more likely than stock offers to have termination initiated by the target firm. a? It is also believed that if Nicholson management signs off on any merger, speculators and the unknown portion of shareholders will go along with the merger. However, one negative aspect of using stock is that a? cquisitions of public targets result in insignificant bidder returns to the acquirer when stock is offereda?. (Chang & Suk, 1998) is this a direct quote, if so we need the reference) Cooper management believes strongly that the Nicholson acquisition will not result in negative returns due to the potential improvements that c an be made through simple reorganization of some Nicholson operating businesses. Also, it appears an exchange of stock is appropriate because Cooper currently only has $9 million in cash on hand and would need to incur significant debt in order to offer a decent cash offer.It already has $5 million in long-term debt due and $34 million in long-term debt outstanding, levels significant enough that may prevent Cooper management from considering a cash offer for Nicholson. Competitor Acquisition Offer Details Type of offerOffer price per shareDividendsTax FreeOffer Accepted/Rejected H. K. CooperCash$42NoNoNo VLN CorporationConvertible stock$53. 10YesYesYes VLN and Porter Offer Details Since Nicholson management has already accepted VLN Corporationas offer, it is clear that the terms Cooper needs to offer would have to exceed those already offered by VLN.VLNas offer included one share of VLN cumulative convertible stock for each individual share of Nicholson stock, preferred shares valu e at a minimum of $53. 10, $1. 60 preferred dividend equaling the current rate of Nicholson common stock, and convertible into five shares the first three years and four the fourth year. In addition, the offer was desirable since the exchange of stock would be tax-free as opposed to a cash offer. According to Dhaliwal et al (2005), to qualify as a a? tax-free acquisitionatax laws require that the acquirer use its own stock as payment. a? However, Cooper also has to consider the take aways of H.K. Porter in order to get approval for the merger. H. K. Porter has indicated that it will not part with its shares (25% of total shares) and support the merger unless it receives a? Cooper common or convertible securities in a tax-free exchange worth at least $50 for each Nicholson share it holds. a? This demand is below the current book value of $51. 25 for Nicholson common stock, but above the $44 per share on the open market. The final consideration that assists with prospect up the rang e for an appropriate offer that may be accepted by a simple majority of shareholders is the total value of Nicholson stock.With 584,000 shares of Nicholson File Company Stock and at $44 per share, this amounts to a total market value of $25,696,000. Therefore, in order to make the offer magnetic, Cooper will have to make an offer that exceeds the market value of all of the stock but will have to ensure that the offer is not too high that it affects Cooperas long-term plans to continue to pursue acquisitions. A basic rule for Cooper acquisitions is that they bring significant long-term returns on the acquisitions as well as steady growth in earnings per share.Recommended Offer The number of convertible shares of Cooper stock at $24, the last closing price, for each Nicholson share would have to be just above 21 in order to match VLNas $53. 10 offer. So, Cooper should offer convertible stock fixed at 2-1/21 within the first five years after the offering. This amounts to an offer of $ 60 per Nicholson share. This would not only exceed VLNas offer per share but would also help make up the deficit in dividends, $1. 40 by Cooper and $1. 60 by VLN, and make the offer more attractive to Nicholson shareholders.Overall, this offer would not only exceed VLNas offer currently approved by Nicholson management, but would also likely gain the approval of the shares held by speculators and unknown investors. In addition, this offer meets the payment method required by H. K. Porter for its Nicholson shares, and actually exceeds the $50 minimum offer per share it had requested. As a result, it appears that Cooper should be successful persuading Nicholson shareholders and unaccounted for shareholders to accept the offer, and in return acquire at least 80% of the outstanding Nicholson shares of stock

Albert Bandura’s Works Regarding Psychology

Albert Bandura was born on December 4, 1925, in Mundare, a small town in Alberta, Canada (Boeree 2006). His father, who was a labourer, originally came from Poland while his m some other(a), who worked in a general store, was from Ukraine.Albert was the youngest among six fryren. Although the whole family had no access to black-tie preparation, they gave importance to education. The father subscribe toed to read three languages Polish, Russian and German and engaged in educational affairs.At a very young age, Bandura experienced difficulties in his education. He attended the only schooldays in his town, which lacked teachers and resources for learning.The school had only hotshot Mathematics textbook, for instance, and it had to be used by the students and teachers as well. But although this was the case, the school produced graduates who attended colleges and universities throughout the world. Bandura realized that the scarcity of educational resources was an enabling factor rather than a handicapping one (Boeree 2006).During vacations, his parents would encourage him to look for experiences outside their small hamlet. Bandura experienced working as a carpenter in a furniture manufacturing plant. The skills he acquired helped him through college. He overly worked as a part-time carpenter during afternoons during his college days, and even filled holes in the Alaska Highway.Bandura then attended the University of British Columbia where he took up psychology. He intended to major in one of the biological sciences, but then he worked in the afternoons to be able to support his studying. He found out that taking introductory psychology would fill his chronicle in the mornings. He became enthralled and then decided to concentrate on psychology. He finished his education within three years receiving a Bolo commode Award in psychology.His accidental choice of psychology influenced his theorizing after on. He discussed in his The Psychology of Chance Encounte rs and Life Paths how personal initiative can put sight into events wherein unexpected events shape the courses that lives orchestrate(Pajares, 2004). Bandura also focused on making chance work through self-development to take advantage of fortuitous opportunities (Pajares, 2004). companionable Learning TheoryAlbert Bandura is one of the leading proponents of the complaisant Learning Theory (Ormrod, 1999). This theory says that sight learn from one another and focuses on the leaning which occurs within a kind context. It also says that concepts such as observational learning, modeling and imitation are learned from around us (Ormrod, 1999).These are the principles of the Social Learning Theory (Ormrod, 1999).. First is that people can learn through observation of the demeanour of other people and its emergences. Another principle is that, since learning comes from observation alone, it can occur without a transfer in the behaviour. This is what the social learning theorists believed. This is in contrast to what the behaviorists believed. For them, there must be a permanent change in behaviour if learning took place.The third principle says that cognition has an important part in learning. Ormrod (1999) explained that cognisance and prognosiss of reinforcements or punishments may influence the behaviours of people. The fourth principle says that social learning theory bridges the cognitive learning theories and behaviourist learning theories.Albert Banduras ideas also lead to the observational learning, based on the principles discussed above. He made experiments and found out that applying consequences was not compulsory for learning to happen. A person can learn just by observing someone else.He then devised a four-step pattern for the findings of his experiments. These are the attention, retention, reproduction and need (Ormrod, 1999). Attention happens when a person becomes aware of something from around him. It includes modeled events, such as affective valence, prevalence, complexness and distinctiveness, among others, and observer characteristics, such as past reinforcement and sensory capacities (Bandura, 1977). Retention is when the person retains what he noticed.This includes beat back rehearsal and symbolic coding, among others. Reproduction happens when the produces acts with regards to what he noticed. This includes accuracy of feedback, physical capabilities and self-observation of reproduction. Motivation, on the other hand, takes place when the surround carry a consequence that will change the probability that the behaviour will be produced over again (Huitt, 2004). It includes reinforcement (external and vicarious), and punishment (Bandura, 1977).Aside from this, Bandura believes that the learning process takes place with a contribution from the mind, behaviour and environment.One of Banduras famous mental experiments was the Bobo Doll Experiment which solidified his beliefs regarding learned aggression an d behaviour modeling. Bandura made a word picture of a female student of his beating a Bobo doll. A Bobo doll is an egg-shaped, inflatable balloon cock that bounced back when knocked down. The young woman punched, kicked, yelled and hit the doll. Bandura then showed the film to kindergartners.After watching the film, the children were placed in a room full of the same toys they saw on the film. There were Bobo dolls and small hammers around. Banduras findings showed that the children were raging towards the doll 88% of the time (Albert Bandura, n.d.). In short, the children imitated what the woman in the film did.However, an article by Huitt (2004) showed that the children watched a film wherein another child acted aggressively towards a Bobo doll. It had three different endpoints. The first ending was that the child was praised for his behaviour.The second was that the child was not allowed to play with the toys and to just sit in a corner. The third ending consisted of the chi ld walking out of the room. After then, the children were placed in the room and were observed. This experiment became the basis for the Social Learning Theory.Bandura also believed that most of our behaviour is learned by observation through modeling. He also believed that when we observe other people, it gives us an idea of how new behaviours are carried out, and this can be our guide for activity (Bandura, 1977).Personality DevelopmentAlbert Bandura also has contributions in personality development. He believes that personality is an interaction among environment, behaviour and the humans psychological processes (Boeree, 2006).He also believes that in studying a theory of personality, the social contexts where behaviour is acquired and maintained must be considered. This is in support of his social learning theory, which says that our behaviour is developed. Bandura believed that humans regulate and think of their own behaviour (Albert Bandura, 2000).According to the theory of p ersonality, ones environment causes ones behaviour (Boeree, 2006). Whatever happens around us can affect us and thus affect our behaviour.Bandura believes in his social learning theory that social experience, reciprocal determinism and observational learning have important roles in the development of our personality. He also believes that the self-system of a human is composed of his abilities, attitudes and cognitive skills. In turn, a persons self-system helps him in the way he perceives different situations and acts according to that situation.Bandura also believes that self-efficacy is important for ones self-system. Self-efficacy, for him, is the belief that in ones capabilities to organize and execute the courses of action required to manage prospective situations (1995, p.2). In short, self-efficacy is how one can fly the coop well in a given situation.In an article about Banduras personality theory, it showed that changing the expectation of personal efficacy can bring chan ge in behaviour. Changing efficacy expectations can be done in four ways enactive, persuasive, vicarious and physiological information experience. Those who have behavioural problems can cope by making changes in personal efficacy expectations (Albert Bandura, 2000).The concept of self-efficacy became important as it has an cushion from psychological states to behaviour and to motivation. People are aware that they can set their goals for whatever they ask to achieve, and the things that they want changes. But, we also know that most of the time, doing these things is not so simple. This is where Bandura found out that self-efficacy can help in how people should approach their goals, challenges and tasks.For those who have strong self-efficacy, they think that challenges are tasks to be overcome. They also foster bet in the things that they want to accomplish. Moreover, as their interest deepens, their commitment also deepens. And if there were disappointments, they can easily re cover.On the other hand, people who have weak self-efficacy are the opposite. They do not like challenges as they believe that they cannot go through difficult situations. They also tend to dwell on their failures and the negative outcomes of their actions. Additionally, they lose trust and assumption in their abilities (Bandura, 1994).According to Kear (2000), self-concept, cognitive processes and control are the primary characteristics of self-efficacy. The sense of self is developed through the experiences and interactions with other people. The author added that our self-concept contains beliefs and values and attitudes that we have learned and developed through time. When there is self-regulation, we can have a positive self-concept amidst interactions.Control, on the other hand, focuses on two things self-actualization and locus of control. Self-actualization, Kear (2000) explained, builds when a person has confidence in a successful performance. Locus of control, on the othe r hand, focuses on causal belief about outcome determination.

Barriers to entry Essay

Monopoly, also known as a monopoly seller, selling al unmatchable, exclusive, generally refers only to one or more sellers in the market, through one or more stages, in the face of competitive consumer and monopsony opposite. Monopoly on the market, toilet freely adjust the value and yield (not simultaneously adjust). Monopoly can be legally exclusive privilege to control sources of supply, or together or work together to achieve the behavior of enterprises. 1China since ancient times called monopoly to knock 2. ancient Chinese salt, iron, tea progress to long a monopoly of the government-run, because there it is profiteering, the country once the financial crisis, to subsidise the country with a lack of implementation of the ban inevitable knock system.Generally believed that the basic cause of monopoly is barriers to entry, that is, a monopolist can maintain sole seller of its position in the market, because the other companies can not enter the market and compete. There are th ree causes of monopolyNatural monopolies (natural monopoly) cost of issue identify a single producer more efficient than a large number of producers. This is the most putting surface form of monopoly. Resources monopoly a business owned by a key resource (such as wireless TV dubbing industry citation needed). Administrative monopoly Government to give a firm the exclusive production of a product or service rights (public franchise). There are also self-monopolized by the government, known as the monopoly.

Cultural Component

Valduron Cleare English 119 18th October, 2011 Cultural Component The components of culture are the attitudes, beliefs, customs, usages, art, clothing, food, language and achievements of ships company that are passed on to each generation. With that explanation Ive realized that culture is in almost each aspect of our lives. I experienced at least four of these components during my recent trips to Arawak key. Firstly, as a tradition for most Bahamian birth daytime celebrations, the main goal is to eat more than you regularly do, and we did just that. Our company consisted of my Father and mother, my two older brothers and me.After all of the congratulations on seeing another year on this earth were through, we set out to our destination. Usually we just order pizza and call it a day but we wanted to make this day special. Our attribute of choice was the great Arawak Key, or as I like to call it, food central. As we arrived there was rake n scrape music acting and people dancing. It was also obvious that we werent the only if ones with that idea. Hungry faces as far as the nitty-gritty can see, but no one was as hungry as me. I searched all close to for an empty restaurant to seat me family of five.It felt like it was hopeless because every restaurant we looked in, a wide-eyed house of hungry faces looked back at us. We finally found a diamond in the rough in with a slightly empty restaurant. This restaurant had a cozy feel to it. It had basic light brownness paint and Bahamian art strung up on the walls. These paintings were probably purchase from schools which made me worry I did better in art. As we ordered our food another component of culture came to me. The computer menu was stacked with Bahamian dishes, from the almighty conch snack to the luxurious lobster and shrimp snacks.I ordered two different meals for myself only and when I was finished, I still wasnt full. Secondly, I went to an event known as Fam Fest. This is a loose gospel concert held annually on Arawak key. This brings up another cultural component which is beliefs. The majority of the Bahamas is of the Christian denomination. This was seen excellently with the numbers of people that showed up. Although it could have been due only to the fact that it was free, because something that is free and a Bahamian is never far apart. Getting back to topic, with a gathering of Bahamians there has to be food.The entire advanced sight of the venue was covered by vendors set upped to sell their dishes. Hundreds of people gathered to praise the skipper and satisfy their stomachs, not a bad combination. Arawak key is a Bahamian culture haven. From the food, the music, and the dancing, it all is real a culture filled place. Also the clothes worn by employees to accentuate their restaurants Bahamian qualities are brilliant. Firstly, the food is pure Bahamian influenced. The sound of conch salad being prepared fills the air and the touch sensation of fried foods just fl ow through your nostrils.Furthermore, the rake n scrape music played by live bands or speakers just set the mood and make for the perfect Bahamian experience. Also, the dancing, although mostly done by drunken men and women, still gives a nice feel to the place. In conclusion, it is clear to offer that the components of culture, or just culture itself is evident almost everywhere you go. Arawak Key is a perfect place to go if you want a true culture experience. Although some of the components are seen more than others, each of them plays a vital role in the complete culture of the Bahamas.

The Help of Technology to the Stock Market

The purpose of this research paper is to prove that technology has been good for the stock commercialize. Thanks to technology, in that location argon now more(prenominal) than deal outrs than ever because of the ease of handicraft online with firms such as Audi make do and Ameritrade. There are likewise more stocks that are doing well because they are in the technology field. The New York Stock transposition and NASDAQ meet both benefitted from the recent technological movement.The NYSE says they are dedicated to maintaining the most efficient and technologic each(prenominal)y advanced tradeplace in the world. The key to that leadership has been the state-of-the-art technology and bodys development. technology serves to support and put up the human judgement at point-of-sale.NASDAQ, the worlds first fully electronic stock merchandise, started commerce on February 8th, 1971. Today, it is the fastest growing stock market in the United States. It alo ranks second among the worlds securities in terms of dollar value. By constantly evolving to meet the changing needs of investors and public companies, NASDAQ has achieved more than almost any other market, in a shorter period of time.Technology has also helped investors grease ones palms stocks in other markets. Markets employ to open at standard local times. This would cause an American trader to intermission through the majority of a Japanese trading day. With more online and afterhours trading, investors have more access to markets so that American traders can still trade Japanese stocks. This is also helped by an expansion of most market times. Afterhours trading is available from most online trading firms.For investing specialists, technology provides operational capability for handling more stocks and greatly ontogenyd volumes of trading. Specialists can follow additional sources of market information, and multiple trading and post-trade functions, all on one screen at work or at home. The y are also given interfaces to on a elevateder floor risk-management systems. They also have flexiblity to rearrange their physical workspaces, terminals and functional activities.Floor brokers are helped with supports for an industry-wide effort to compare buy/sell contracts for accuracy shortly after the trade. They are also given flexibility in establishing works relationships using the sunrise(prenominal) wireless voice headsets and hand-held data terminals. The ability to provide new and deepen information services to their trading desks and institutional customers is provided. They have a comprehensive lodge-management system, that systematizes and tracks all outstanding orders.Technology gives a markets portion organizations flexibility in determining how to staff their trading floor trading operations as well as flexiblity in using that markets provided systems, networks and terminals or interfacing their induce technology. They are given assurance that their market will have the systems capacity and trading floor operations to handle daily trading and in billions of shares. Member organizations get faster order handling and associated reports to their customers, along with speedier and enhanced market information. They also have a regulatory environment, which assures member organiztions that their customers, large and small, can trade with confidence. Technology also allows lower costs, despite increasing volumes and enhanced products.Companies listed on the NYSE are provided with an electronic link so they may analyze daily trading in their stock, and compare market process during various time periods. The technology also supports the visibility of operations and information, and regulated auctioneer-market procedures, which listed companies expect from their primary market in support of their capital-raising activities and their shareholder services.Institutions get enhanced information flow from the trading floor, using new wireless tec hnologies, as to pre-opening situations, depth of market, and indications of buy/sell interest by other large traders. similarly supported are the fair, orderly, and deeply liquid markets which institutions require in order to allocate the funds they have under management whether placing orders in size for individual stocks (block orders) or executing programs (a series of up to euchre orders usually related to an index).For institutional investors, technology gives information on timely trades and quotes and makes them available through member firms, market data services, cable broadcasts and news media. They also are provided with a very effective government mission of handling smaller orders, giving them communications priority and full auction market participation for charge improvement yet turning the average market order around in 22 seconds. equipment casualty continuitity and narrow quotation spreads, which are under constant market surveillence and a regulatory enviro nment which enforces trading rules designed to protect small investors are also supported.There are many different kinds of equipment used on the stock market. One of these machines is SuperDot, an electronic order-routing system through which member firms of the NYSE transmit market and limit orders directly to the trading post where the stock is traded. After the order has been completed in the auction market, a report of execution is returned directly to the member-firm office over the same electronic circuit that brought the order to the trading floor. SuperDot can currently process about 2.5 billion shares per day.Another piece of machinery is the Broker carrell Support System. The BBSS is a state-of-the-art order-management system that enables firms to quickly and efficiently process and manage their orders. BBSS allows firms to selectively travel plan orders electronically to either the trading post or the booths on the trading floor. BBSS supports the following broker func tions recieving orders, entranceway orders, rerouting orders, issuing reports, research, and viewing other services via terminal windows.The overhead crowd display is Americas first commercial application of large-scale, high-definition, flat-screen plasma technology. It shows trades and quotes for each stock. The display also shows competing national market system quotes. Clear, legible information is displayed at wide viewing angles. Full color and video capabilities are also provided.The Hospital Arm Monitor is suspended for convenient viewing by specialists. Multiple data sources that are displayed include point-of-sale books, overhead crowd displays, market montage and various vendor services. The list of information sources is going to continue expanding.The Point-of-Sale Display Book is a tool that greatly increases the specialists volume handling and processing capabilities. Using powerful workstation technology, this database sysem maintains the limit order book for which t he specialist has agency responsibility, assists in the recording and dissemination of trades and quotation changes, and facilitates the research of orders. All of this serves to eliminate paperwork and processing orders.The Consolidated read System is an integrated, worldwide reporting system of price and volume data for trades in listed securities in all domestic markets in which the securities are traded. The Hand-Held is a mobile, hand-held device that enables brokers to recieve orders, disseminate reports, and send market looks in both data and image format, from anywhere on the trading floor.Intermarket Trading System is a display that was installed in 1978 linking all major U.S. exchanges. ITS allows NYSE and NASDAQ specialists and brokers to compare the price of a security traded on multiple exchanges in order to get the best price for the investor.These are the machines that have helped greatly increase the buying and selling of stocks over the past few years. There are gr eat advantages to trading forthwith over the situation that past traders had. The biggest beneficiaries of this new technology are investors themselves. They have all day to trade instead of trading only during market hours, they have more stocks to choose from, and the markets are very high so people are making a lot of money.In conclusion, I have ascertained that the research I have done on this project has revealed what I originally thought to be true. That is that the stock market has greatly benefitted from the recent advances in technologies.